MIDDLESEX WATER CO

Middlesex Water Company (NASDAQ: MSEX) operates regulated water utility and wastewater systems primarily in New Jersey and Delaware, serving approximately 131,000 customers across its utility operations. The company also operates water and wastewater systems under contract for municipal and private clients in those states. The company's website is www.middlesexwater.com.

The Middlesex System, located in New Jersey, provides water services to approximately 61,000 retail customers primarily in eastern Middlesex County and generates approximately 67 percent of consolidated operating revenues. This system treats, stores and distributes water for residential, commercial, industrial and fire protection purposes, drawing supply from the Carl J. Olsen Surface Water Treatment Plant, company-owned wells, and purchased treated water from a non-affiliated utility.

The Tidewater System, operating in Delaware through subsidiary Tidewater Utilities and its wholly-owned subsidiary Southern Shores, serves approximately 65,000 retail customers across over 485 separate communities in New Castle, Kent and Sussex Counties. This segment contributes approximately 25 percent of consolidated operating revenues and derives water supply primarily from 166 wells, supplemented by annual purchases from the City of Dover.

The company operates additional water and wastewater systems through several subsidiaries. Pinelands Water and Pinelands Wastewater serve approximately 2,500 residential customers each in Burlington County, New Jersey, collectively generating approximately 2 percent of revenues. USA-PA operates Perth Amboy's water and wastewater systems under contract, contributing approximately 4 percent of revenues. USA operates utility systems for three New Jersey municipalities and manages a home maintenance service program partnership, generating approximately 2 percent of revenues. White Marsh maintains water and wastewater systems serving approximately 3,700 service connections under 28 separate contracts in Delaware, contributing approximately 0.5 percent of revenues.

As of December 31, 2025, the company employed 395 people. Consolidated operating revenues for 2025 totaled $194.7 million. The company's rates and service quality are regulated by the New Jersey Board of Public Utilities and the Delaware Public Service Commission, while environmental compliance is overseen by the U.S. Environmental Protection Agency and state environmental agencies.