Company: MSEX
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001174947-25-000561
Chunk: 35

Company: MIDDLESEX WATER CO
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 35
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 under the heading Investors – (Governance). Middlesex Water Company 25 2025 Proxy Statement Our Business and Strategy Operational expertise, business continuity planning and dedicated employees are critical to our ability to deliver uninterrupted utility service. Our Company’s strategy is designed to meet the expectations of customers and shareholders for the long term. Infrastructure investments we are making currently under our Water for Tomorrow ®infrastructure investment campaign are designed to benefit current and future generations of customers. Diverse talent we are recruiting today and nurturing through training and professional development become the leaders of tomorrow. We drive accountability across our enterprise through a set of core values that drive daily decision-making. These core values of Respect, Integrity, Growth, Honesty and Teamwork serve as the standards by which our people operate and help ensure an inclusive workplace. We expect our teams to be accountable for upholding these values each and every day as we work to fulfill our mission. The basic tenets of our strategy for profitability & growth include:

| » | Investment in our utility infrastructure to build system resiliency and meet compliance requirements |

| » | Timely and adequate recovery of infrastructure investments and other costs necessary to maintain and continually improve service quality |

| » | Selective acquisitions of investor and municipally-owned water and wastewater utilities |

| » | Execution of municipal and industrial water and wastewater systems contracts |

Our 2024 Company Performance We continue to strive to strengthen our reputation as a trusted service provider to our customers, and as a valued employer, while we work to further enhance value to our shareholders. The results below demonstrate some key accomplishments during the year:

| ✔ | Successfully transitioned to the new leadership team with significant depth and expertise in the industry comprised of Nadine Leslie 
 as President & Chief Executive Officer, Mohammed G. Zerhouni as SVP, Chief Financial Officer, and Treasurer, and Gregory Sorensen    
 as VP & Chief Operating Officer.                                                                                                     |

| ✔ | Achieved 52 consecutive years of dividend increases with a 4.62% raise in 2024. |

| ✔ | Increased our 2024 diluted earnings per share of $2.47 by 40% compared to $1.76 for 2023. |

| ✔ | Added approximately 2,100 new regulated customers through organic growth. |

| ✔ | Tidewater filed its first general rate case since 2013 to recover investments in water quality, service, and infrastructure. |

| ✔ | Invested $75 million in our utility infrastructure. |

| ✔ | Developed the