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SJW Group Appoints Three Former CTWS Directors to its Board

November 6, 2019

SAN JOSE, Calif.--(BUSINESS WIRE)--Nov 6, 2019--

SJW Group (NYSE: SJW) has appointed Carol P. Wallace, Mary Ann Hanley and Heather Hunt to the company’s board of directors effective October 9, 2019. All three women served on the board of Connecticut Water Service, Inc. (CTWS), which recently merged with SJW Group.

“Carol, Mary Ann, and Heather are proven leaders with a wealth of experience,” stated Eric W. Thornburg, Chairman, President and CEO of SJW Group. “As well-respected leaders who each have more than a decade of service on the board of an investor-owned water utility, they will make important contributions to the SJW Board. They bring their expertise in the New England market and history with CTWS as we leverage the strengths of our newly combined companies to better serve our customers and their communities.”

Each board member brings deep expertise, background, skills and dedication to the water service industry. Carol is the retired president and CEO, of the Cooper-Atkins Corporation; Heather is an attorney and executive director of the New England States Committee on Electricity and previously served as director of state and local government affairs at United Technologies; Mary Ann, having worked in state government for over a decade as Legal Counsel to the Governor and Director of the Office for Workforce Competitiveness, is currently the Liaison for Advocacy and Community Relations at Trinity Health Of New England.

Katharine Armstrong, Chairman of the SJW Group Nominating and Governance Committee, said, “We are proud of these exceedingly qualified new directors. The SJW Group board appreciates the value in having gender parity among its independent directors. We look forward to leveraging the strength of their experience and talent in our mission to serve customers, communities and shareholders.”

SJW Group’s board consists of 11 directors.

About SJW Group

SJW Group is the third largest investor-owned pure play water and wastewater utility based on rate base in the United States, providing life-saving and high-quality water service to nearly 1.5 million people. SJW Group’s locally led and operated water utilities - San Jose Water Company in California; Connecticut Water Company, Avon Water Company and Heritage Village Water Company in Connecticut; Maine Water Company in Maine; and SJWTX, Inc. (dba Canyon Lake Water Service Company) in Texas - possess the financial strength, operational expertise and technological innovation to safeguard the environment, deliver outstanding service to customers and provide opportunities to employees. SJW Group remains focused on investing in its operations, remaining actively engaged in its local communities and delivering continued sustainable value to its shareholders. For more information about SJW Group, please visit www.sjwgroup.com.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Some of these forward-looking statements can be identified by the use of forward-looking words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” “projects,” “strategy,” or “anticipates,” or the negative of those words or other comparable terminology.

The accuracy of such statements is subject to a number of risks, uncertainties and assumptions including, but not limited to, the following factors: (1) the risk that the benefits expected from the merger of SJW Group and Connecticut Water Service, Inc. (the “Merger”) will not be realized; (2) the risk that the integration of Connecticut Water Service, Inc. will be more difficult, time-consuming or expensive than anticipated; (3) the effect of water, utility, environmental and other governmental policies and regulations, including actions concerning rates, authorized return on equity, authorized debt-to-equity ratios, capital expenditures and other decisions; (4) the outcome of the California Public Utilities Commission’s investigation into the Merger; (5) litigation, including litigation relating to the Merger; (6) changes in demand for water and other products and services; (7) unanticipated weather conditions and changes in seasonality; (8) climate change and the effects thereof; (9) catastrophic events such as fires, earthquakes, explosions, floods, ice storms, tornadoes, hurricanes, terrorist acts, physical attacks, cyber-attacks, or other similar occurrences that could adversely affect our facilities, operations, financial condition, results of operations and reputation; (10) unexpected costs, charges or expenses resulting from the Merger; (11) our ability to successfully evaluate investments in new business and growth initiatives; (12) the risk of work stoppages, strikes and other labor-related actions; (13) changes in general economic, political, business and financial market conditions; (14) the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, changes in interest rates, compliance with regulatory requirements, compliance with the terms and conditions of our outstanding indebtedness, and general market and economic conditions; and (15) legislative and economic developments.

Results for a quarter are not indicative of results for a full year due to seasonality and other factors. In addition, actual results are subject to other risks and uncertainties that relate more broadly to our overall business, including those more fully described in our filings with the SEC, including our most recent reports on Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements are not guarantees of performance, and speak only as of the date made, and we undertake no obligation to update or revise any forward-looking statements except as required by law.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191106006062/en/

CONTACT: Investors

Suzy Papazian, SJW Group

General Counsel and Corporate Secretary

408-279-7961,Suzy.Papazian@sjwater.comMedia — California and Texas

Liann Walborsky

Director of Corporate Communications

408-279-7247,Liann.Walborsky@sjwater.comMedia — New England

Daniel J. Meaney, APR

Director of Public Affairs and Corporate Communications, Connecticut Water Service

860-664-6016,Daniel.Meaney@ctwater.com

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: UTILITIES ENERGY

SOURCE: SJW Group

Copyright Business Wire 2019.

PUB: 11/06/2019 06:00 PM/DISC: 11/06/2019 06:01 PM

http://www.businesswire.com/news/home/20191106006062/en