California Water Service Group (CWT) Proxy Filing summary

Executive summary

• Achieved strong 2024 financial results: $1,037M in revenue, $190M net income, $3.25 EPS, and $471M capital investment, with a 7.7% dividend increase.

• Record capital investment and ongoing emergency preparedness; not directly impacted by 2025 LA wildfires.

• Total Shareholder Return (TSR) for 2024 was -10.6%, outperforming the water utilities peer group mean but underperforming the broader proxy peer group.

• Received multiple awards for responsibility, trustworthiness, workplace excellence, and environmental stewardship in 2024.

Voting matters and shareholder proposals

• Board recommends voting for the election of 11 directors, advisory vote on executive compensation, and ratification of independent accountants.

Board of directors and corporate governance

• 10 of 11 director nominees are independent; 4 are gender diverse, 2 are ethnically diverse.

• Board features a mix of senior leadership, public company, sustainability, and health expertise.

• Lead Independent Director role established with defined responsibilities and significant utility experience.

• Annual committee and board assessments, clawback policy, stock ownership guidelines, and prohibition on hedging/pledging.

• No dual-class stock, annual director elections, majority voting, and 10% threshold for special meetings.