Execution Version

FIRST AMENDMENT TO
TERM LOAN CREDIT AGREEMENT

This First Amendment to Term Loan Credit Agreement (this “Amendment”), dated as
of April 23, 2020, is entered into by and among New Jersey Resources
Corporation, a New Jersey corporation (the “Borrower”), the Guarantors party
hereto (collectively with the Borrower, the “Loan Parties”), the Lenders party
hereto, and Wells Fargo Bank National Association, as Administrative Agent.

RECITALS

A. The Loan Parties, the several lenders from time to time party thereto (the
“Lenders”), and the Administrative Agent are party to the Credit Agreement,
dated as of October 9, 2019 (the “Credit Agreement”). Capitalized terms used but
not defined herein shall have the meanings assigned to such terms in the Credit
Agreement as amended by this Amendment.

B. The Loan Parties have requested that the Lenders amend the Credit Agreement
on the terms and conditions set forth herein.

STATEMENT OF AGREEMENT

NOW, THEREFORE, in consideration of the foregoing and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows:

ARTICLE I

AMENDMENTS TO CREDIT AGREEMENT

1.1 Section 1.1 of the Credit Agreement is hereby amended by amending and
restating the definition of “Debt Issuance” in its entirety as follows (the
modifications to such definition indicated textually as bold and
double-underlined text):

“Debt Issuance” shall mean the issuance of any Borrowed Debt by any Loan Party
or any of its Subsidiaries other than (i) Indebtedness incurred by New Jersey
Natural Gas, (ii) intercompany Indebtedness among the Borrower and/or its
Subsidiaries, (iii) credit extensions under the Existing Revolving Credit
Agreement and any refinancing thereof, (iv) issuances by the Borrower and any of
its Subsidiaries under short term commercial paper programs, (v) ordinary course
letter of credit facilities, overdraft protection and short term working capital
facilities, factoring, capital leases, financial leases, hedging and cash
management arrangements and purchase money and equipment financings, (vi) the
Loans, (vii) Indebtedness of Project Subsidiaries and any guaranties with
respect thereto, (viii) other Indebtedness to the extent the Net Cash Proceeds
thereof are utilized or are to be utilized to refinance any Borrowed Debt of the
Borrower or any of their Subsidiaries to the extent the issuance of incurrence
of such Indebtedness occurs within 18 months of the maturity of the applicable
Borrowed Debt being refinance and to pay any fees or other amounts in respect
thereof (including any prepayment or redemption premiums and accrued interest
thereon), (ix) seasonal lines of credit for the purchase of natural gas and (x)
other Indebtedness (other than Indebtedness pursuant to or resulting from any
Senior Note Issuance) in an aggregate principal amount up to $50,000,000. For
the avoidance of doubt, and notwithstanding anything to the contrary herein or
otherwise, (A) each Senior Note Issuance shall constitute a “Debt Issuance” and
(B) a 364-day senior unsecured line of credit converting to a term loan to be
entered into by the Borrower, the Guarantors, the lenders from time to time
party thereto and PNC Bank, National Association, as administrative agent, in an
aggregate principal amount not exceeding $250 million shall not constitute a
“Debt Issuance”.

--------------------------------------------------------------------------------

ARTICLE II

CONDITIONS OF EFFECTIVENESS

2.1 The amendment set forth in ARTICLE I shall become effective as of the date
when, and only when, the Administrative Agent shall have received an executed
counterpart of this Amendment from each Loan Party and Lenders constituting the
Required Lenders.

ARTICLE III

REPRESENTATIONS AND WARRANTIES

3.1 To induce the Administrative Agent and the Lenders to enter into this
Amendment, the Loan Parties, jointly and severally, represent and warrant to the
Administrative Agent and each of the Lenders on and as of the date hereof, that:
(i) it has taken all necessary action to authorize the execution, delivery and
performance of this Amendment, (ii) this Amendment has been duly executed and
delivered by such Loan Party and constitutes such Loan Party’s legal, valid and
binding obligations, enforceable in accordance with its terms, except to the
extent that enforceability of this Amendment may be limited by bankruptcy,
insolvency, reorganization, moratorium or other similar laws affecting the
enforceability of creditors’ rights generally or limiting the right of specific
performance, (iii) no consent, approval, exemption, order or authorization of,
or a registration or filing with, any Official Body or any other Person is
required by any Law or any agreement as a condition to the execution, delivery
and carrying out of this Amendment by any Loan Party, (iv) the representations
and warranties set forth in Article 6 of the Credit Agreement are true and
correct in all material respects (or if qualified by materiality or material
adverse effect or material adverse change, in all respects), (v) both before and
after giving effect to this Amendment, no event has occurred and is continuing
which constitutes an Event of Default or Potential Default and (vi) the
Obligations are not reduced by this Amendment and are not subject to any
offsets, defenses or counterclaims.

ARTICLE IV

ACKNOWLEDGEMENT AND CONFIRMATION

4.1 Each Loan Party hereby confirms and agrees that, after giving effect to this
Amendment, the Credit Agreement and the other Loan Documents to which it is a
party remain in full force and effect and enforceable against such party in
accordance with their respective terms, as modified hereby, and shall not be
discharged, diminished, limited or otherwise affected in any respect.

--------------------------------------------------------------------------------

ARTICLE V

MISCELLANEOUS

5.1 Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED AND
ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO
THE CONFLICTS OF LAW PROVISIONS THEREOF).

5.2 Loan Document. As used in the Credit Agreement, “hereinafter,” “hereto,”
“hereof,” and words of similar import shall, unless the context otherwise
requires, mean the Credit Agreement after amendment by this Amendment. Any
reference to the Credit Agreement or any of the other Loan Documents herein or
in any such documents shall refer to the Credit Agreement and the other Loan
Documents as amended hereby. This Amendment is limited to the matters expressly
set forth herein, and shall not constitute or be deemed to constitute an
amendment, modification or waiver of any provision of the Credit Agreement
except as expressly set forth herein. This Amendment shall constitute a Loan
Document under the terms of the Credit Agreement.

5.3 Expenses. The Loan Parties shall pay all reasonable and documented fees and
expenses of counsel to the Administrative Agent in connection with the
preparation, negotiation, execution and delivery of this Amendment.

5.4 Severability. To the extent any provision of this Amendment is prohibited by
or invalid under the applicable law of any jurisdiction, such provision shall be
ineffective only to the extent of such prohibition or invalidity and only in any
such jurisdiction, without prohibiting or invalidating such provision in any
other jurisdiction or the remaining provisions of this Amendment in any
jurisdiction.

5.5 Successors and Assigns. This Amendment shall be binding upon, inure to the
benefit of and be enforceable by the respective successors and permitted assigns
of the parties hereto.

5.6 Construction. The headings of the various sections and subsections of this
Amendment have been inserted for convenience only and shall not in any way
affect the meaning or construction of any of the provisions hereof.

--------------------------------------------------------------------------------

5.7 Counterparts; Integration. This Amendment may be executed and delivered via
facsimile or electronic format with the same force and effect as if an original
were executed and may be signed in any number of counterparts, each of which
shall be an original, with the same effect as if the signatures hereto were upon
the same instrument. The words “executed,” “signed,” “signature,” and words of
like import in shall be deemed to include electronic signatures or the keeping
of records in electronic form, each of which shall be of the same legal effect,
validity or enforceability as a manually executed signature or the use of a
paper-based recordkeeping system, as the case may be, to the extent and as
provided for in any Law, including the Federal Electronic Signatures in Global
and National Commerce Act, the New York State Electronic Signatures and Records
Act, or any other similar state laws based on the Uniform Electronic
Transactions Act. This Amendment constitutes the entire contract among the
parties hereto with respect to the subject matter hereof and supersedes any and
all prior agreements and understandings, oral or written, relating to the
subject matter hereof.

[remainder of page intentionally left blank]

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their duly authorized officers as of the date first above written.

BORROWER:

NEW JERSEY RESOURCES CORPORATION   By:    /s/ Roberto F. Bel [Seal] Name:
Roberto F. Bel Title: Treasurer

SIGNATURE PAGE TO
FIRST AMENDMENT TO TERM LOAN CREDIT AGREEMENT

--------------------------------------------------------------------------------

GUARANTORS:

NJR ENERGY SERVICES COMPANY   By:    /s/ Roberto F. Bel Name: Roberto F. Bel 
Title: Treasurer   NJR HOME SERVICES COMPANY   By:   /s/ Patrick J. Migliaccio
Name:   Patrick J. Migliaccio  Title: Senior Vice President, Chief Financial
Officer and Treasurer   COMMERCIAL REALTY AND RESOURCES
CORP.   By:   /s/ Patrick J. Migliaccio Name:   Patrick J. Migliaccio  Title:
Senior Vice President, Chief Financial Officer and Treasurer   PHOENIX FUEL
MANAGEMENT COMPANY   By:   /s/ Patrick J. Migliaccio Name:   Patrick J.
Migliaccio  Title: Senior Vice President, Chief Financial Officer and Treasurer

SIGNATURE PAGE TO
FIRST AMENDMENT TO TERM LOAN CREDIT AGREEMENT

--------------------------------------------------------------------------------

NJR SERVICE CORPORATION      By: /s/ Roberto F. Bel Name: Roberto F. Bel Title:
Treasurer   NJR CLEAN ENERGY VENTURES
CORPORATION   By: /s/ Roberto F. Bel Name: Roberto F. Bel Title: Treasurer   NJR
MIDSTREAM HOLDINGS
CORPORATION   By: /s/ Roberto F. Bel Name: Roberto F. Bel Title: Treasurer   NJR
ENERGY INVESTMENTS
CORPORATION   By: /s/ Roberto F. Bel Name: Roberto F. Bel Title: Treasurer   NJR
PLUMBING SERVICES, INC.   By: /s/ Patrick J. Migliaccio Name: Patrick J.
Migliaccio Title: Senior Vice President, Chief Financial Officer and Treasure

SIGNATURE PAGE TO
FIRST AMENDMENT TO TERM LOAN CREDIT AGREEMENT

--------------------------------------------------------------------------------

NJR RETAIL HOLDINGS CORPORATION      By: /s/ Patrick J. Migliaccio Name: Patrick
J. Migliaccio Title: Senior Vice President, Chief Financial Officer and
Treasurer   NJR CLEAN ENERGY VENTURES II
CORPORATION   By: /s/ Roberto F. Bel Name: Roberto F. Bel Title: Treasurer   NJR
CLEAN ENERGY VENTURES III
CORPORATION   By: /s/ Roberto F. Bel Name: Roberto F. Bel Title: Treasurer

SIGNATURE PAGE TO
FIRST AMENDMENT TO TERM LOAN CREDIT AGREEMENT

--------------------------------------------------------------------------------

WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent and as a Lender
     By: /s/ Jesse Tannuzzo Name: Jesse Tannuzzo Title: Vice President

SIGNATURE PAGE TO
FIRST AMENDMENT TO TERM LOAN CREDIT AGREEMENT

--------------------------------------------------------------------------------

JPMorgan Chase Bank, N.A., as a Lender   By:    /s/ Tom K. Martin Name: Tom K.
Martin Title: Vice President

SIGNATURE PAGE TO
FIRST AMENDMENT TO TERM LOAN CREDIT AGREEMENT

--------------------------------------------------------------------------------

TRUIST BANK (formerly known as Branch Banking and Trust Company), as a Lender  
By:    /s/ Matthew J. Davis Name: Matthew J. Davis Title: Senior Vice President

SIGNATURE PAGE TO
FIRST AMENDMENT TO TERM LOAN CREDIT AGREEMENT

--------------------------------------------------------------------------------

TD Bank, N.A., as a Lender   By:    /s/ Shannon Batchman Name: Shannon Batchman
Title: Senior Vice President

SIGNATURE PAGE TO
FIRST AMENDMENT TO TERM LOAN CREDIT AGREEMENT

--------------------------------------------------------------------------------

The Bank of Nova Scotia, as a Lender   By:    /s/ David Dewar Name: David Dewar
Title: Director

SIGNATURE PAGE TO
FIRST AMENDMENT TO TERM LOAN CREDIT AGREEMENT

--------------------------------------------------------------------------------