# EDGAR Filing Document

**Accession Number:** 0001434728
**File Stem:** 0001628280-26-028741
**Filing Date:** 2026-4
**Character Count:** 163149
**Document Hash:** ef3046dd3cbdc59a566a02a0ec019e38
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-26-028741.hdr.sgml**: 20260430

**ACCESSION NUMBER**: 0001628280-26-028741

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 126

**CONFORMED PERIOD OF REPORT**: 20260428

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260430

**DATE AS OF CHANGE**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Global Water Resources, Inc.
- **CENTRAL INDEX KEY:** 0001434728
- **STANDARD INDUSTRIAL CLASSIFICATION:** WATER SUPPLY [4941]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 900632193
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37756
- **FILM NUMBER:** 26922783

**BUSINESS ADDRESS:**
- **STREET 1:** 21410 N. 19TH AVENUE
- **STREET 2:** SUITE 220
- **CITY:** PHOENIX
- **STATE:** AZ
- **ZIP:** 85027
- **BUSINESS PHONE:** 480-999-3461

**MAIL ADDRESS:**
- **STREET 1:** 21410 N. 19TH AVENUE
- **STREET 2:** SUITE 220
- **CITY:** PHOENIX
- **STATE:** AZ
- **ZIP:** 85027

?xml version='1.0' encoding='ASCII'? gwrs-20260428

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): April 28, 2026**

**GLOBAL WATER RESOURCES, INC.**

**(Exact name of registrant as specified in its charter)**

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| | | | |
|:---|:---|:---|:---|
| **Delaware** | **Delaware** | **001-37756** | **90-0632193** |
| **(State or other jurisdiction of<br>incorporation or organization)** | **(State or other jurisdiction of<br>incorporation or organization)** | **(Commission<br>File Number)** | **(IRS Employer<br>Identification No.)** |
| **21410 N. 19th Avenue #220** | **21410 N. 19th Avenue #220** | | |
| **Phoenix,** | **Arizona** |  | **85027** |
| **(Address of principal executive offices)** | **(Address of principal executive offices)** |  | **(Zip Code)** |

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 **Registrant's telephone number, including area code: (480) 360-7775**

**Not Applicable**

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act.

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol** | **Name of each exchange on which registered** |
| Common Stock, par value $0.01 per share | GWRS | The NASDAQ Stock Market, LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 1.01&nbsp;&nbsp;&nbsp;&nbsp;Entry into a Material Definitive Agreement.**

As previously reported, on March 5, 2025, two of the regulated subsidiaries of Global Water Resources, Inc. (the "Company"), Global Water – Santa Cruz Water Company, Inc. ("GW-Santa Cruz") and Global Water – Palo Verde Utilities Company, Inc. ("GW-Palo Verde"), each filed a rate case application and related schedules with the Arizona Corporation Commission (the "ACC") for, among other things, increased water and wastewater rates, respectively. Additionally, on April 14, 2026, GW-Santa Cruz, GW-Palo Verde, Residential Utility Consumer Office ("RUCO"), and the ACC Utilities Division (the "Staff") filed a Notice of Settlement and Request to Modify Procedural Schedule relating to the settlement of the rate cases.

On April 28, 2026, GW-Santa Cruz, GW-Palo Verde, RUCO, and the Staff entered into a settlement agreement (the "Settlement Agreement") detailing the terms upon which the parties have agreed to bifurcate and settle the rate cases. Pursuant to the Settlement Agreement, the parties have agreed to, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in GW-Santa Cruz's annual revenue requirement of approximately $2.3 million with a capital structure of 55% common equity/45% debt and a return on equity of 9.6%;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a requested effective date of the new rates for GW-Santa Cruz of November 1, 2026; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the withdrawal of the GW-Palo Verde rate case, with the agreement that GW-Palo Verde will refile its rate application in 2027 using a 2026 test year without seeking formula rates.

Additionally, GW-Palo Verde has agreed to seek an amendment to Decision No. 79424 (July 18, 2024) issued by the ACC to increase the amount of the temporary bill credit for customers related to the Company's premature revenue collection. The Settlement Agreement provides that the increase to the temporary bill credit is anticipated to coincide with new rates described above for GW-Santa Cruz going into effect and is expected to reduce revenue by approximately $0.4 million annually. The parties have also agreed that the final resolution relating to this bill credit will be addressed in GW-Palo Verde's 2027 rate case.

The Settlement Agreement remains subject to the approval of the ACC, and there can be no assurance that the ACC will approve the Settlement Agreement in the form filed or modify provisions.

The foregoing summary of the terms of the Settlement Agreement is qualified in its entirety by reference to the full text of the agreement, which is attached as Exhibit 10.1 to this Current Report on Form 8-K (this "Form 8-K") and incorporated herein by reference.

**Item 8.01&nbsp;&nbsp;&nbsp;&nbsp;Other Events.**

On April 28, 2026, the Company issued a press release announcing the Settlement Agreement, which is attached as Exhibit 99.1 to this Form 8-K and incorporated herein by reference.

*Cautionary Note Regarding Forward-Looking Statements*

This Form 8-K contains forward-looking statements within the meaning of federal securities laws and which reflect the Company's expectations regarding future events. The forward-looking statements involve a number of assumptions, risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning the Company's plans, expectations and estimates relating to the terms of the Settlement Agreement. These statements may be identified by the use of words such as "could," "would," "may," "might," "will," "expect," "likely," "believe," "continue," "anticipate," "estimate," "intend," "plan," "project" and other similar expressions to identify some forward-looking statements, but not all forward-looking statements include these words. All forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, such as those described in the Company's filings with the Securities and Exchange Commission (the "SEC"), including the Company's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings with the SEC. Accordingly, investors are cautioned not to place undue reliance on any forward-looking statements, which reflect management's views as of the date of this Form 8-K. The Company undertakes no obligation to publicly update any forward-looking statement, except as required by law, whether as a result of new information, future developments or otherwise.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) Exhibits**

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| | |
|:---|:---|
| Exhibit No. | Description |
| 10.1 | <u>[Settlement Agreement, dated April 28, 2026, by and among Global Water – Santa Cruz Water Company, Inc., Global Water – Palo Verde Utilities Company, Inc., Residential Utility Consumer Office, and Arizona Corporation Commission Utilities Division](a20260428_gw-scxgwxpvnof.htm)</u> |
| 99.1 | <u>[Press Release, dated April 28, 2026](gwrsscpvsettlementagreemen.htm)</u> |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
| | GLOBAL WATER RESOURCES, INC. |
| Date: April 30, 2026 | /s/ Michael J. Liebman |
| | Michael J. Liebman |
| | Chief Financial Officer |

---

## Exhibit 10.1

![](a20260428_gw-scxgwxpvnof001.jpg)

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 1 Robert J. Metli (018509) Regulatory Counsel Global Water Resources, Inc. 21410 N. 19th Avenue, Suite 205 Phoenix, AZ 85027 520.677.0366 Robert.Metli@gwresources.com legal@gwresources.com BEFORE THE ARIZONA CORPORATION COMMISSION COMMISSIONERS NICK MYERS, Chair RACHEL WALDEN, Vice Chair LEA MÁRQUEZ PETERSON KEVIN THOMPSON RENE LOPEZ IN THE MATTER OF THE APPLICATION OF GLOBAL WATER – SANTA CRUZ WATER COMPANY, INC., AN ARIZONA CORPORATION, FOR THE ESTABLISHMENT OF JUST AND REASONABLE RATES AND CHARGES FOR UTILITY SERVICE DESIGNED TO REALIZE A REASONABLE RATE OF RETURN ON THE FAIR VALUE OF ITS PROPERTY AND FOR CERTAIN RELATED APPROVALS. IN THE MATTER OF THE APPLICATION OF GLOBAL WATER – PALO VERDE UTILITIES COMPANY, INC., AN ARIZONA CORPORATION, FOR THE ESTABLISHMENT OF JUST AND REASONABLE RATES AND CHARGES FOR UTILITY SERVICE DESIGNED TO REALIZE A REASONABLE RATE OF RETURN ON THE FAIR VALUE OF ITS PROPERTY AND FOR CERTAIN RELATED APPROVALS. DOCKET NO. W-20446A-25-0022 DOCKET NO. SW-20445A-25-0023 NOTICE OF FILING PROPOSED SETTLEMENT AGREEMENT Global Water – Santa Cruz Water Company, Inc. ("GW-Santa Cruz"), and Global Water – Palo Verde Utilities Company, Inc. ("GW-Palo Verde"), the Residential Utility Consumer Office ("RUCO") and Utilities Division Staff ("Staff") (collectively, "the Parties"), as signatories to the Proposed Settlement Agreement ("Agreement") hereby file the Agreement in the above- referenced matter, a copy of which is attached.

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 2 RESPECTFULLY SUBMITTED this 28th day of April, 2026. GLOBAL WATER – SANTA CRUZ WATER COMPANY, INC. and GLOBAL WATER – PALO VERDE UTILITIES COMPANY, INC. By: Robert J. Metli Global Water Resources, Inc. 21410 N. 19th Avenue Phoenix, AZ 85027 By: /s/ Paloma Scheiferstein Paloma Scheiferstein SNELL & WILMER, LLP One East Washington Street, Suite 2700 Phoenix, Arizona 85004 ARIZONA CORPORATION COMMISSION UTILITIES DIVISION By: /s/Bridget Humphrey Bridget Humphrey Arizona Corporation Commission 1300 W. Washington St Phoenix, AZ 85007 RESIDENTIAL UTILITY CONSUMER OFFICE By: /s/ Sarah Barrios Cool /s/ Dan Pozefsky Sarah Barrios Cool Dan Pozefsky Residential Utility Consumer Office One East Washington Street, Suite 2700 Phoenix, Arizona 85004 E-filed this 28th day of April 2026, with: Docket Control ARIZONA CORPORATION COMMISSION 1200 West Washington Street Phoenix, Arizona 85007 /s/ Robert J. Metli

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 3 Copies emailed this same date to: Co-Directors, Utilities Division Arizona Corporation Commission 1200 West Washington Phoenix, Arizona 85007 Utildivservicebyemail@azcc.gov Consented to Service by Email Chief Counsel and Director, Legal Division Arizona Corporation Commission 1200 West Washington Phoenix, Arizona 85007 LegalDiv@azcc.gov Consented to Service by Email Hearing Division Arizona Corporation Commission 1200 West Washington Phoenix, Arizona 85007 HearingDivisionServicebyEmail@azcc.gov Consented to Service by Email Daniel W. Pozefsky, Chief Counsel Sarah Barrios Cool RUCO 1110 W. Washington, Suite 220 Phoenix, Arizona 85007 dpozefsky@azruco.gov sbarrioscool@azruco.gov Consented to Service by Email By: /s/ Kelsey Piro

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![](a20260428_gw-scxgwxpvnof004.jpg)

-i- GLOBAL WATER – SANTA CRUZ WATER COMPANY, INC., and GLOBAL WATER – PALO VERDE UTILITIES COMPANY, INC. SETTLEMENT AGREEMENT DOCKET NOS. W-20446A-25-0022 and SW-20445A-25-0023 APRIL 28, 2026

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**TABLE OF CONTENTS** -ii- I. RECITALS ........................................................................................................1 II. REVENUE REQUIREMENT ..........................................................................3 III. TEST YEAR EXPENSE ...................................................................................4 IV. RATE BASE ......................................................................................................4 V. AFUDC ...............................................................................................................4 VI. DEPRECIATION RATES ...............................................................................4 VII. RATE DESIGN AND BILL IMPACTS ..........................................................4 VIII. SUSTAINABLE WATER SURCHARGE MECHANISM ...........................5 IX. TARIFF APPROVALS AND ADDITIONAL ADJUSTOR MECHANISMS .................................................................................................5 X. RATE CASE EXPENSE SURCHARGE ........................................................6 XI. COMPLIANCE MATTERS ............................................................................7 XII. FILING REQUIREMENTS .............................................................................7 XIII. COMMISSION EVALUATION OF PROPOSED SETTLEMENT ...........8 XIV. MISCELLANEOUS PROVISIONS ................................................................8 EXHIBITS Exhibit 1 Revenue Requirement and Representative Bill Impact Schedules Exhibit 2 AFUDC Illustrative Calculation Exhibit 3 Depreciation Rates for GW-Santa Cruz Exhibit 4 Rate Tariff Exhibit 5 Sustainable Water Surcharge Plan of Administration

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1 SETTLEMENT AGREEMENT DOCKET NOS. W-20446A-25-0022; SW- 20445A-25-0023 The purpose of this Settlement Agreement ("Agreement") is to resolve all issues related to the general rate case applications filed in Docket Nos. W-20446A-25-0022 and SW-20445A-25-0023. This Agreement is entered into by the following entities: Global Water-Santa Cruz Water Company, Inc. ("GW-Santa Cruz") Global Water-Palo Verde Utilities Company, Inc. ("GW-Palo Verde") Residential Utility Consumer Office ("RUCO") and Arizona Corporation Commission Utilities Division ("Staff") These entities shall be referred to collectively as "Signatories;" a single entity shall be referred to individually as a "Signatory." I. RECITALS I.1 On March 5, 2025, GW-Santa Cruz filed a general rate case application in Docket No. W-20446A-25-0022 ("GW-Santa Cruz Docket"). On that same date, GW-Palo Verde filed a general rate application in Docket No. SW-20445A-25-0023 ("GW-Palo Verde Docket"). Staff found both applications sufficient on April 4, 2025. On April 7, 2025, GW-Santa Cruz and GW-Palo Verde (collectively, "the Companies") each filed a Motion to Consolidate in their respective dockets. That same date, RUCO filed a Motion to Intervene in both dockets. On April 22, 2025, Administrative Law Judge Christopher A. Nichols ("ALJ Nichols") granted the Motions to Consolidate the GW-Santa Cruz Docket with the GW-Palo Verde Docket and granted RUCO's Motion to Intervene. Hearing was scheduled to begin December 15, 2025. I.2 Staff and RUCO filed their Direct Testimony on or about October 1, 2025, and rate design testimony on October 14, 2025. On October 16, 2025, the Companies filed a Notice of Settlement Meeting in preparation of conducting settlement discussions on October 23, 2025. Although the settlement discussions took place on October 23, 2025, no settlement was reached at that time. On November 6, 2025, the Companies filed Rebuttal Testimony. On December 1, 2025, Staff and RUCO filed Surrebuttal

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2 Testimony. On December 11, 2025, the Companies filed Rejoinder Testimony. I.3 On December 12, 2025, Staff and the Companies filed a Joint Motion for Amendment of the Procedural Schedule and Continuance of Hearing ("Motion to Continue"). On December 15, 2025, prior to public comment, ALJ Nichols granted the Motion to Continue. On January 14, 2026, ALJ Nichols issued a Procedural Order rescheduling the hearing to commence on August 3, 2026, the filing of supplemental surrebuttal testimony by Staff and RUCO on April 15, 2026, and the filing of supplemental rejoinder testimony by the Companies on May 15, 2026. I.4 On March 25, 2026, the Companies filed a Notice of Settlement Meeting. Settlement discussions took place on April 1, 2026. The settlement discussions were open, transparent, and inclusive of all Parties to this Docket who desired to participate. The Signatories filed a Notice of Settlement and Request to Modify Procedural Schedule regarding this matter on April 14, 2026. I.5 The terms of this Agreement are just, reasonable, fair, and in the public interest in that they, among other things, establish just and reasonable rates in compliance with the Arizona Constitution for the Companies customers; promote the convenience, comfort and safety, and the preservation of health, of the employees and patrons of the Companies; resolve the issues arising from Docket Nos. W-20446A-25-0022 and SW-20445A-25-0023; and avoid unnecessary litigation expense and delay. I.6 The Signatories agree to the bifurcation of the two Dockets whereby the signatories agree to the Terms and Conditions below for GW-Santa Cruz. In addition, the Signatories agree to the withdrawal of the Rate Application of GW-Palo Verde, with the agreement that GW-Palo Verde will refile its rate application in 2027 using a 2026 Test Year. ("2027 GW-Palo Verde Rate Case") I.7 In consideration of the bifurcation and withdrawal of the GW-Palo Verde Docket, GW-Palo Verde agrees to seek an amendment to Decision No. 79424 (July 18, 2024), which set a temporary bill credit related to premature revenue collection of $1.73 per month for the average residential wastewater 3/4-inch customer to $2.85 per month. The increase to the temporary bill credit will coincide with new rates going into effect in the GW-Santa Cruz Docket. Final resolution of the bill credit and

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3 premature revenue collection will be addressed in the 2027 GW-Palo Verde Rate Case. I.8 The Signatories agree to ask the Commission, with respect to the terms each agreed upon herein: (1) to find that the terms and conditions of this Agreement are just and reasonable and in the public interest, along with any and all other necessary findings, and (2) to approve the Agreement such that it and the rates contained herein may become effective on or about November 1, 2026. I.9 These recitals and the Exhibits to this Agreement are part of this Agreement and incorporated herein by reference as if fully set forth. I.10 The Signatories are aware there is or may be other Commission litigation relating to the Companies, separate and apart from the current GW-Santa Cruz Docket and GW-Palo Verde Docket (25-0022/25-0023). Nothing in this Agreement is meant to take any position regarding that litigation. This Agreement shall not be construed as resolving or attempting to resolve any contested issue other than those presented herein. TERMS AND CONDITIONS II. REVENUE REQUIREMENT II.1 Signatories agree that GW-Santa Cruz's revenue requirement is $24,480,144, which is an increase of $2,254,822 over test-year revenues. Schedules setting forth the calculation of the revenue requirement, including agreed upon adjustments, are attached as Exhibit 1, Settlement Schedule A-1 to the Agreement. II.2 The proposed revenue requirement has been determined through a series of adjustments to GW-Santa Cruz's initial proposed revenue requirement. These adjustments are reflected in the Settlement schedules. II.3 The revenue requirement reflects the following elements (Exhibit 1, Settlement Schedule D-1): II.3.1 A capital structure of 55% common equity and 45% debt. II.3.2 A Return on Equity of 9.6%. II.3.3 A 4.92% cost of long-term debt. II.3.4 A weighted average cost of capital of 7.49%.

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4 II.3.5 No Fair Value Increment is included in this Agreement. II.4 The provisions set forth herein regarding the quantification of a capital structure, return on equity, cost of long-term debt, cost of capital, and the revenue requirement are made for purposes of settlement only and should not be construed as admissions against interest or waivers of litigation positions related to other or future cases. III. TEST YEAR EXPENSE III.1 Signatories agree that GW-Santa Cruz's settlement adjusted test year expenses were $19,118,869. Test year expense is shown on Exhibit 1, Settlement Schedule C-1. The Signatories determined the proposed expenses in this rate case by agreeing to the adjustments identified in Exhibit 1 in order to resolve issues in dispute. IV. RATE BASE IV.1 The Signatories agree that GW-Santa Cruz' rate base is $63,613,187 as set forth in Exhibit 1, Settlement Schedule B-1. The Signatories determined the proposed FVRB in this rate case by agreeing to certain adjustments reflected in Exhibit 1, in order to resolve issues in dispute. Included in the changes to rate base identified in the schedules, is the following: IV.1.1 Plant Held For Future Use (Terrazo WDC) – Signatories agree that GW-Santa Cruz may seek recovery of, and on, the PHFFU in the amount of $3,383,385 in the next rate case. V. AFUDC V.1 The Signatories agree, on a going forward basis, GW-Santa Cruz shall not compound interest when calculating AFUDC. Exhibit 2 is an illustrative example of the methodology GW-Santa Cruz will use to calculate AFUDC on a going-forward basis. VI. DEPRECIATION RATES VI.1 The depreciation rates for GW-Santa Cruz are set forth in Exhibit 3. VII. RATE DESIGN AND BILL IMPACTS VII.1 The rate tariff based on the revenue requirement is set forth in Exhibit 4 to the Agreement.

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5 VII.2 The current bill for the median customer with a 3/4-inch meter using approximately 5,500 gallons of water is $35.73, with this settlement resulting in an increase of $2.68, for a proposed bill of $38.41, or an overall increase of 7.50%. Representative bill impacts for the other meter sizes resulting from the new rates are set forth in Exhibit 1, Settlement Schedule H-4, pages 1-22. VIII. SUSTAINABLE WATER SURCHARGE MECHANISM VIII.1 GW-Santa Cruz' proposed Sustainable Water Surcharge ("SWS") mechanism shall incorporate RUCO's proposed modifications adopted consistent with the Plan of Administration ("SWS POA") and provided as Attachment Piro Rebuttal-2. The proposed SWS POA is set forth in Exhibit 6. IX. TARIFF APPROVALS AND ADDITIONAL ADJUSTOR MECHANISMS IX.1 Terms and Conditions Tariff GW-Santa Cruz will continue to utilize the existing Terms and Conditions Tariff approved in Decision No. 79383. IX.2 Curtailment Tariff GW-Santa Cruz will continue to utilize the existing Curtailment Tariff approved in Decision No. 79383. IX.3 Customer Assistance Tariff GW-Santa Cruz will continue to utilize the existing Customer Assistance Tariff approved in Decision No. 79383 but break out GW-Santa Cruz separately as a stand-alone charge for utility tracking and funding purposes. IX.4 Cross-Connection/Backflow Prevention Tariff GW-Santa Cruz will continue to utilize the existing Cross- Connection/Backflow Prevention Tariff approved in Decision No. 79383. IX.5 Hydrant Meter Deposit Charge Tariff GW-Santa Cruz will continue to utilize the existing Hydrant Meter Deposit Charge Tariff approved in Decision No. 79383.

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6 IX.6 Meter Downsizing Tariff GW-Santa Cruz will continue to utilize the existing Meter Downsizing Tariff approved in Decision No. 79383. IX.7 Tax Expense Adjustor Mechanism GW-Santa Cruz will continue to utilize the existing Tax Expense Adjustor Mechanism ("TEAM") approved in Decision No. 78644. IX.8 Best Management Practices Tariff GW-Santa Cruz will continue to utilize the existing Best Management Practices Tariffs approved in Decision No. 78644. IX.9 Off-site Hook-up Fee Tariff GW-Santa Cruz will continue to utilize the existing Off-site Hook-fee tariff approved by operation of law in Docket No. W-20446A-19-0178. IX.10 Point of Use Treatment Device Tariff GW-Santa Cruz will continue to utilize the existing Point of Use Treatment Device tariff approved by operation of law in Docket Nos. W-02450A-23-0237. et al. X. RATE CASE EXPENSE SURCHARGE X.1 The Signatories agree to a rate case expense surcharge for GW-Santa Cruz, to recover an amount not to exceed $250,000, recoverable through a monthly surcharge assessed over three years with a maximum monthly rate case expense surcharge of $0.35 per customer. The surcharge shall terminate automatically if the expenses are recovered in full before the three-year period expires. X.2 The Signatories agree that GW-Palo Verde shall defer and record all actual rate case expenses incurred in the GW-Palo Verde Docket (SW- 20445A- 25-0023) as a deferred debit in NARUC Account No. 186.1, Deferred Rate Case Expense. GW-Palo Verde agrees that it shall not seek a return on the deferred debit. Such amounts may be presented for recovery as expenses in its next general rate case filing, anticipated in 2027, and, all parties agree that no expenses are pre-approved, and if approved in the next general rate case, amortized over a period determined by the Commission.

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7 XI. COMPLIANCE MATTERS XI.1 The Signatories agree that the compliance item in Decision No. 67830/771211 (May 5, 2004) (filing annual reports on the compliance status of Santa Cruz Water Company, LLC, with Arizona Department of Environmental Quality, Arizona Department of Water Resources, and Arizona Corporation Commission) be removed. XI.2 The Signatories agree that the compliance item in Decision No. 74364 (February 26, 2014) (CEO Affidavit that GW-entities are compliant with the terms of the Settlement Agreement in that case) be removed. XII. FILING REQUIREMENTS XII.1 The Signatories agree to the withdrawal of the Rate Application of GW-Palo Verde, with the agreement that GW-Palo Verde will refile a 2027 GW-Palo Verde Rate Case. If requested by GW-Palo Verde, the Signatories agree to make a good faith effort to request a condensed schedule (faster than the typical Class A time clock) for the 2027 Rate Case. XII.2 GW-Palo Verde's motion to withdraw the Rate Application shall include a request that the Settlement Agreement is binding upon GW-Palo Verde before the withdrawal is granted, but it may be done in the same Commission order. XII.3 In consideration for the Settlement Agreement, GW-Palo Verde agrees that it will not seek formula rates in the 2027 GW-Palo Verde Rate Case. XII.4 GW-Santa Cruz agrees not to file another Rate Application until after January 1, 2028. XII.5 For the 2027 GW-Palo Verde Rate Case, GW-Palo Verde agrees that it will meet with Staff, no later than 60 days prior to the filing, to identify data requests to be completed by its filing or shortly thereafter. XII.6 The Signatories agree that GW-Santa Cruz shall, in its next rate case, conduct a cost of service analysis consistent with R14-2-103(B) which provides analysis of the total revenue requirement allocated across customer classes (residential, commercial and industrial). 1 Decision No. 77121 (March 13, 2019) modified the quarterly requirement set in Decision No. 67830 to an annual requirement.

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&nbsp;&nbsp;&nbsp;&nbsp;8 XIII. COMMISSION EVALUATION OF PROPOSED SETTLEMENT XIII.1 The application in the GW-Santa Cruz docket, all currently filed testimony, tariffs and exhibits, and this Agreement and its exhibits shall be admitted into the Commission's record as evidence. XIII.2 The Signatories recognize that Staff does not have the power to bind the Commission. For purposes of proposing a settlement agreement, Staff acts in the same manner as any party to a Commission proceeding. XIII.3 This Agreement shall serve as a procedural device by which the Signatories will submit their proposed settlement of GW-Santa Cruz's pending rate case, Docket No. W-20446A-25-0022, and the foregoing agreements relating to GW-Palo Verde's currently pending rate case, Docket No. SW-20445A-25-0023, to the Commission. XIII.4 The Signatories recognize that the Commission will independently consider and evaluate the terms of this Agreement. If the Commission issues an order adopting all material terms of this Agreement, such action shall constitute Commission approval of the Agreement. Thereafter, the Signatories shall abide by the terms as approved by the Commission. For purposes of this Settlement Agreement, whether a term is material shall be left to the discretion of each Signatory. XIII.5 If the Commission fails to issue an order adopting all material terms of this Agreement, any or all of the Signatories may withdraw from this Agreement and seek a hearing, and such Signatory or Signatories may pursue without prejudice their respective remedies at law. For purposes of this Agreement, whether a term is material shall be left to the discretion of the Signatory choosing to withdraw from the Agreement. If a Signatory withdraws from the Agreement pursuant to this paragraph and files an application for rehearing, the other Signatories, except for Staff, shall support the application for rehearing by filing a document with the Commission that supports approval of the Agreement in its entirety. Staff shall not be obligated to file any document or take any position regarding the withdrawing Signatory's application for rehearing. XIV. MISCELLANEOUS PROVISIONS XIV.1 The Signatories agree that all filed documents and Exhibits in the GW-Santa Cruz docket will be admitted into evidence without cross examination by any Signatory.

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&nbsp;&nbsp;&nbsp;&nbsp;9 XIV.2 To achieve consensus for settlement, the Signatories are accepting positions that, in any other circumstances, they may be unwilling to accept. They are doing so because this Agreement and its terms, as to the terms to which each Signatory agrees, when taken as a whole are consistent with their long-term interests and with the broad public interest. The acceptance by any Signatory of a specific element of this Agreement shall not be considered as precedent for acceptance of that element in any other context. XIV.3 No Signatory is bound by any position asserted in negotiations, except as expressly stated in this Agreement. No Signatory shall offer evidence of conduct or statements made in the course of negotiating this Agreement before this Commission, any other regulatory agency, or any court. XIV.4 Neither this Agreement nor any of the positions taken in this Agreement by any of the Signatories may be referred to, cited, and/or relied upon as precedent in any proceeding before the Commission, any other regulatory agency, or any court for any purpose except to secure approval of this Agreement and enforce its terms. XIV.5 To the extent any provision of this Agreement is inconsistent with any existing Commission order, rule, or regulation, this Agreement shall control. XIV.6 Each of the terms of this Agreement is in consideration of all other terms of this Agreement. Accordingly, the terms are not severable. XIV.7 The Signatories shall make reasonable and good faith efforts necessary to obtain a Commission order approving this Agreement. The Signatories shall support and defend this Agreement before the Commission. Subject to Paragraphs XIII.4 and XIV.6 above, if the Commission adopts an order approving all material terms of the Agreement, the Signatories will support and defend the Commission's order before any court or regulatory agency in which it may be at issue. XIV.8 This Agreement may be executed in any number of counterparts and by each Signatory on separate counterparts, each of which when so executed and delivered shall be deemed an original and all of which taken together shall constitute one and the same instrument. This Agreement may also be executed electronically or by facsimile.

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11 ARIZONA CORPORATION COMMISSION UTILITIES DIVISION STAFF By Title Co-Director Date 4/28/2026 GLOBAL WATER-SANTA CRUZ WATER COMPANY, INC. and GLOBAL WATER-PALO VERDE UTILITIES COMPANY, INC. By: Christopher Krygier Title Vice-President Date RESIDENTIAL UTILITY CONSUMER OFFICE By: Cynthia Zwick Title Executive Director Date

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&nbsp;&nbsp;&nbsp;&nbsp;12 LIST OF EXHIBITS Exhibit 1 Revenue Requirement and Representative Bill Impact Schedules Exhibit 2 AFUDC Illustrative Calculation Exhibit 3 Depreciation Rates for GW-Santa Cruz Exhibit 4 Rate Tariff Exhibit 5 Sustainable Water Surcharge Plan of Administration

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EXHIBIT 1 Revenue Requirement and Representative Bill Impact Schedules

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule A-1 Test Year Ended December 31, 2024 Computation of Increase in Gross Revenue Requirement Line No. DESCRIPTION ORIGINAL COST AS FILED Settlement 1 Fair Value Rate Base 69,005,005$63,613,187$2 3 Adjusted Operating Income (Loss) 2,272,893$3,106,453$4 5 Current Rate of Return (Line 3 /Line 1) 3.29% 4.88% 6 7 Required Operating Income (Line 9 \* Line 1) 5,398,952$4,767,172$8 9 Required Rate of Return 7.82% 7.49% 10 11 Operating Income Deficiency (Line 7 - Line 3) 3,126,059$1,660,720$12 13 Gross Revenue Conversion Factor 1.3577 1.3577 14 15 Increase in Gross Revenue Requirements 4,244,369$2,254,822$16 17 % Increase in Gross Revenue Requirement 424436909.00% 10.15% 18 19 Adjusted Test Year Revenue 22,225,322$20 21 Customer Classification Present Rates\* Proposed Rates Dollar Increase Percent Increase 22 23 Residential 15,796,106 17,537,014 1,740,907$11.02% 24 Commercial 1,478,239 1,581,711 103,472 7.00% 25 Irrigation 2,222,921 2,423,605 200,683 9.03% 26 Raw Water 375,378$407,554 32,175 8.57% 27 Construction Hydrant 1,046,186 1,139,131 92,945 8.88% 28 29 Subtotal Water Revenues 20,918,832$23,089,015$2,170,183$10.37% 30 31 Revenue Annualization 723,318 804,495 81,177$11.22% 32 33 34 Subtotal Revenue Annualization 723,318$804,495$81,177$11.22% 35 36 Total Water Revenues 21,642,150$23,893,510$2,251,360$10.40% 37 38 Miscellaneous Revenues 583,172$583,172$-$0.00% 39 Reconciliation Amount - 3,463 3,463 0.00% 40 Rounding 1$41 Total Operating Revenues 22,225,322$24,480,144$2,254,822$10.15% 42 43 Total Adjusted Revenues (Settlement Schedule C-1) 22,225,322$24,480,144$2,254,822$10.15% 44 45 Supporting Schedules: 46 B-1 47 C-1 48 C-3 49 D-1 50 H-1 51 52 53 54

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule B-1 Test Year Ended December 31, 2024 Summary of Fair Value Rate Base Line No. Settlement Original Cost Settlement Fair Value Rate Base 1 Plant in Service 209,089,015$209,089,015$2 Less: Accumulated Depreciation 54,962,140 54,962,140 3 4 Net Plant in Service 154,126,876$154,126,876$5 6 LESS: 7 Net CIAC 15,368,879$15,368,879$8 Advances in Aid of Construction (AIAC) 72,649,869 72,649,869 9 Deferred Income Tax Credits 1,522,117 1,522,117 10 Customer Deposits 782,166 782,166 11 12 13 ADD: 14 Unamortized Finance Charges 15 Working Capital (294,496)$(294,496)$16 Regulatory Assets - - 17 Deferred Tax Assets - - 18 Utility Plant Acquisition Adjustment 103,838 103,838 19 20 Original Cost Rate Base 63,613,187$63,613,187$21 22 23 Supporting Schedules Recap Schedules 24 B-2 page 1 A-1 25 26 27

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule B-2 Test Year Ended December 31, 2024 Page 1 Original Cost Rate Base with Proforma Adjustments Line No. ADJUSTED AS FILED Settlement ADJUSTMENTS Settlement ADJUSTED 1 Gross Plant in Service 222,891,792$(13,802,777)$209,089,015$2 3 Less: 4 Accumulated Depreciation 62,437,755 (7,475,615) 54,962,140 5 Net Plant in Service 160,454,037$(6,327,162)$154,126,876$6 7 Less: 8 Advances in Aid of Construction 72,649,869$-$72,649,869$9 Contributions in Aid of Construction 10 Gross 17,775,871$58,343$17,834,214$11 Accumulated Amortization (2,491,567) 26,232$(2,465,335) 12 Net Contributions in Aid of Construction 15,284,304$84,574$15,368,879$13 14 Deferred Income Tax Liabilities 2,798,145$(1,276,028)$1,522,117$15 Customer Deposits 782,166 - 782,166 16 - 17 18 Add: 19 Working Capital (38,387)$(256,110)$(294,496)$20 Regulatory Assets - - - 21 Deferred Tax Assets - - - 22 Utility Plant Acquisition Adjustment 103,838 - 103,838 23 24 Total Rate Base: 69,005,005$(5,391,818)$63,613,187$25 26 Supporting Schedules Recap Schedules 27 B-2 page 2 B-1 28 29 30

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule B-2 Test Year Ended December 31, 2024 Page 2 Detail Plant in Service 1 2 3 4 5 6 7 8 9 10 11 Reclass to Wastewater Plant Held for Future Use Intentionally Left Blank Intentionally Left Blank PTY Plant AFUDC Capitalized Bonuses CWC A/D NIKOLA Reclass & CIAC ADIT Adj No. 1 Adj No. 2 Adj No. 3 Adj No. 4 Adj No. 5 Adj No. 6 Adj No. 7 Adj No. 8 Adj No. 9 Adj No. 10 Adj No. 11 Line No. Adjusted Test Year End B.2 page 3 B.2 page 4 B.2 page 5 B.2 page 6 B.2 page 7 B.2 page 8 B.2 page 9 B.2 page 10 B.2 page 11 B.2 page 12 B.2 page 13 Settlement Adjusted 1 Utility Plant in Service 2 301 Organization 72,896$-$-$-$-$-$-$-$- 72,896$3 302 Franchises 300,241 - -$-$-$-$-$-$- 300,241$4 303 Land and Land Rights 264,416 - -$-$-$-$-$(515)$- 263,901$5 304 Structures and Improvements 23,853,384 (941,833) (3,105,226)$-$-$308,272$(36,687)$(25,280)$465,430 20,518,059$6 305 Collecting & Improving Reservoirs - - -$-$-$-$-$-$- -$7 306 Lake, River, Canal Intakes 1,855 - -$-$-$-$-$-$- 1,855$8 307 Wells and Springs 18,186,592 (1,941) -$-$-$(2,721,896)$(8,341)$(13,909)$5,086,605 20,527,110$9 308 Infiltration Galleries - - -$-$-$-$-$-$- -$10 309 Supply Mains 3,022,906 - -$-$-$(15,651)$(2)$(512)$- 3,006,741$11 310 Power Generation Equipment 1,894,694 (29,681) -$-$-$(750,000)$-$-$121,697 1,236,710$12 311 Pumping Equipment 12,886,351 (6,736) -$-$-$(2,222,228)$(768)$-$50,255 10,706,874$13 320 Water Treatment Equipment 1,066,898 - -$-$-$264,815$-$-$974,234 2,305,948$14 320.1 Water Treatment Plants 677,005 - (5,348)$-$-$-$-$(1,839)$- 669,818$15 320.2 Solution Chemical Feeders 627,387 - -$-$-$(150,000)$-$-$- 477,387$16 320.3 Point-of-Use Treatment Devices - - -$-$-$-$-$-$- -$17 330 Distribution Reservoirs and Standpipes - - -$-$-$-$-$-$3,485 3,485$18 330.1 Storage Tanks 3,969,810 - (301,582)$-$-$(5,425)$-$(442)$- 3,662,362$19 330.2 Pressure Tanks 767,542 - -$-$-$-$-$-$- 767,542$20 331 Transmission and Distribution Mains 106,318,201 - (232,406)$-$-$(4,335,660)$(7,626)$(20,854)$(6,701,706) 95,019,948$21 333 Services 15,099,307 - -$-$-$995,317$-$(66)$- 16,094,558$22 334 Meters and Meter Installations 16,080,307 - -$-$-$(269,613)$-$(2,658)$- 15,808,036$23 335 Hydrants 8,190,001 - -$-$-$(80,243)$-$-$- 8,109,758$24 336 Backflow Prevention Devices 68,587 - -$-$-$-$-$-$- 68,587$25 339 Other Plant and Misc. Equipment 666,563 - -$-$-$61,839$-$-$- 728,402$26 340 Office Furniture and Equipment 742,335 (22,377) -$-$-$-$-$-$- 719,959$27 340.1 Computer & Software 1,585,037 (26,285) -$-$-$-$(394)$-$- 1,558,359$28 341 Transportation Equipment 1,335,152 - -$-$-$(276,196)$-$-$- 1,058,956$29 341.1 Transportation Equipment - Leased Vehicles 357,510 - -$-$-$-$-$-$- 357,510$30 342 Stores Equipment 26,554 - -$-$-$-$-$-$- 26,554$31 343 Tools, Shop and Garage Equipment 167,096 - -$-$-$-$-$-$- 167,096$32 344 Laboratory Equipment 192,786 - -$-$-$(30,000)$-$-$- 162,786$33 345 Power Operated Equipment 446,295 - -$-$-$230,341$-$-$- 676,637$34 346 Communication Equipment 522,875 - -$-$-$(30,000)$(388)$(11)$- 492,476$35 347 Miscellaneous Equipment 257,181 (1,553) -$-$-$(14,000)$-$-$- 241,629$36 348 Other Tangible Plant 3,244,025 - -$-$-$32,809$-$-$- 3,276,834$37 Gross Utility Plant in Service 222,891,792$(1,030,406)$(3,644,562)$-$-$(9,007,517)$(54,205)$(66,088)$-$-$0$-$209,089,015$38 Less: Accumulated Depreciation 62,437,755$(7,475,615)$54,962,140$39 Net Utility Plant in Service 160,454,037$(1,030,406)$(3,644,562)$-$-$(9,007,517)$(54,205)$(66,088)$-$7,475,615$0$-$154,126,876$40 41 DEDUCTIONS 42 Contributions in Aid of Construction (CIAC) 17,775,871$(93,675)$(278,783)$430,801$17,834,214$43 Less: Accumulated Amortization (2,491,567) 8,625$17,607$(2,465,335)$44 Net CIAC 15,284,304$(85,050)$(261,176)$-$-$-$-$-$-$-$430,801$-$15,368,879$45 Advances in Aid of Construction (AIAC) 72,649,869$72,649,869$46 Customer Security Deposits 782,166 782,166$47 Accumulated Deferred Income Tax 2,798,145$(1,276,028)$1,522,117$48 49 Total Deductions 91,514,484$(85,050)$(261,176)$-$-$-$-$-$-$-$430,801$(1,276,028)$90,323,030$50 51 ADDITIONS: 52 Unamortized Finance Charges -$-$53 Deferred Tax Assets -$-$54 Allowance for Working Capital (38,387)$(256,110)$(294,496)$55 Acquisition Adjustment 103,838 103,838$56 -$-$57 Total Additions 65,451$-$-$-$-$-$-$-$(256,110)$-$-$-$(190,658)$58 59 ORIGINAL COST RATE BASE 69,005,005$(945,356)$(3,383,385)$-$-$(9,007,517)$(54,205)$(66,088)$(256,110)$7,475,615$(430,801)$1,276,028$63,613,187$60 61 62 63 64

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule B-2 Test Year Ended December 31, 2024 Page 3 Rate Base Adjustment No. 1 - Reclass to Wastewater Line No. NARUC Description Settlement Adjustment 1 301 Organization -$2 302 Franchises - 3 303 Land and Land Rights - 4 304 Structures and Improvements (941,833) 5 305 Collecting & Improving Reservoirs - 6 306 Lake, River, Canal Intakes - 7 307 Wells and Springs (1,941) 8 308 Infiltration Galleries - 9 309 Supply Mains - 10 310 Power Generation Equipment (29,681) 11 311 Pumping Equipment (6,736) 12 320 Water Treatment Equipment - 13 320.1 Water Treatment Plants - 14 320.2 Solution Chemical Feeders - 15 320.3 Point-of-Use Treatment Devices - 16 330 Distribution Reservoirs and Standpipes - 17 330.1 Storage Tanks - 18 330.2 Pressure Tanks - 19 331 Transmission and Distribution Mains - 20 333 Services - 21 334 Meters and Meter Installations - 22 335 Hydrants - 23 336 Backflow Prevention Devices - 24 339 Other Plant and Misc. Equipment - 25 340 Office Furniture and Equipment (22,377) 26 340.1 Computer & Software (26,285) 27 341 Transportation Equipment - 28 341.1 Transportation Equipment - Leased Vehicles - 29 342 Stores Equipment - 30 343 Tools, Shop and Garage Equipment - 31 344 Laboratory Equipment - 32 345 Power Operated Equipment - 33 346 Communication Equipment - 34 347 Miscellaneous Equipment (1,553) 35 348 Other Tangible Plant - 36 Total (1,030,406)$37 38 39 Adjustment 3 (B-2 page2) 40 CIAC (93,675)$41 Amortization of CIAC 8,625$42 Total (85,050) 43 44 Supporting Schedules Recap Schedules 45 Work papers B-2 page 2 46

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule B-2 Test Year Ended December 31, 2024 Page 4 Rate Base Adjustment No. 2 - Plant Held for Future Use Line No. NARUC Description Settlement Adjustment 1 2 301 Organization -$3 302 Franchises -$4 303 Land and Land Rights -$5 304 Structures and Improvements (3,105,226)$6 305 Collecting & Improving Reservoirs -$7 306 Lake, River, Canal Intakes -$8 307 Wells and Springs -$9 308 Infiltration Galleries -$10 309 Supply Mains -$11 310 Power Generation Equipment -$12 311 Pumping Equipment -$13 320 Water Treatment Equipment -$14 320.1 Water Treatment Plants (5,348)$15 320.2 Solution Chemical Feeders -$16 320.3 Point-of-Use Treatment Devices -$17 330 Distribution Reservoirs and Standpipes -$18 330.1 Storage Tanks (301,582)$19 330.2 Pressure Tanks -$20 331 Transmission and Distribution Mains (232,406)$21 333 Services -$22 334 Meters and Meter Installations -$23 335 Hydrants -$24 336 Backflow Prevention Devices -$25 339 Other Plant and Misc. Equipment -$26 340 Office Furniture and Equipment -$27 340.1 Computer & Software -$28 341 Transportation Equipment -$29 341.1 Transportation Equipment - Leased Vehicles -$30 342 Stores Equipment -$31 343 Tools, Shop and Garage Equipment -$32 344 Laboratory Equipment -$33 345 Power Operated Equipment -$34 346 Communication Equipment -$35 347 Miscellaneous Equipment -$36 348 Other Tangible Plant -$37 Total (3,644,562)$38 39 40 CIAC (278,783)$41 Amortization of CIAC 17,607$42 (261,176)$43 44 45 Supporting Schedules Recap Schedules 46 Work papers B-2, page 2 47 48 49 50

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule B-2 Test Year Ended December 31, 2024 Page 5 Rate Base Adjustment No. 3 - Intentionally Left Blank Line No. NARUC Description Settlement Adjustment 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule B-2 Test Year Ended December 31, 2024 Page 6 Rate Base Adjustment No. 4 - Intentionally Left Blank Line No. NARUC Description Settlement Adjustment 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule B-2 Test Year Ended December 31, 2024 Page 7 Rate Base Adjustment No. 5 - PTYP Line No. NARUC Description Settlement Adjustment 1 301 Organization -$2 302 Franchises - 3 303 Land and Land Rights - 4 304 Structures and Improvements 308,272 5 305 Collecting & Improving Reservoirs - 6 306 Lake, River, Canal Intakes - 7 307 Wells and Springs (2,721,896) 8 308 Infiltration Galleries - 9 309 Supply Mains (15,651) 10 310 Power Generation Equipment (750,000) 11 311 Pumping Equipment (2,222,228) 12 320 Water Treatment Equipment 264,815 13 320.1 Water Treatment Plants - 14 320.2 Solution Chemical Feeders (150,000) 15 320.3 Point-of-Use Treatment Devices - 16 330 Distribution Reservoirs and Standpipes - 17 330.1 Storage Tanks (5,425) 18 330.2 Pressure Tanks - 19 331 Transmission and Distribution Mains (4,335,660) 20 333 Services 995,317 21 334 Meters and Meter Installations (269,613) 22 335 Hydrants (80,243) 23 336 Backflow Prevention Devices - 24 339 Other Plant and Misc. Equipment 61,839 25 340 Office Furniture and Equipment - 26 340.1 Computer & Software - 27 341 Transportation Equipment (276,196) 28 341.1 Transportation Equipment - Leased Vehicles - 29 342 Stores Equipment - 30 343 Tools, Shop and Garage Equipment - 31 344 Laboratory Equipment (30,000) 32 345 Power Operated Equipment 230,341 33 346 Communication Equipment (30,000) 34 347 Miscellaneous Equipment (14,000) 35 348 Other Tangible Plant 32,809 36 Total (9,007,517)$37 38 39 40 41 42 Supporting Schedules Recap Schedules 43 C-3, Direct B-2 page 2 B-2 page 2 44 Work papers

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule B-2 Test Year Ended December 31, 2024 Page 8 Rate Base Adjustment No. 6 - AFUDC Line No. NARUC Description Settlement Adjustment 1 301 Organization -$2 302 Franchises -$3 303 Land and Land Rights -$4 304 Structures and Improvements (36,687)$5 305 Collecting & Improving Reservoirs -$6 306 Lake, River, Canal Intakes -$7 307 Wells and Springs (8,341)$8 308 Infiltration Galleries -$9 309 Supply Mains (2)$10 310 Power Generation Equipment -$11 311 Pumping Equipment (768)$12 320 Water Treatment Equipment -$13 320.1 Water Treatment Plants -$14 320.2 Solution Chemical Feeders -$15 320.3 Point-of-Use Treatment Devices -$16 330 Distribution Reservoirs and Standpipes -$17 330.1 Storage Tanks -$18 330.2 Pressure Tanks -$19 331 Transmission and Distribution Mains (7,626)$20 333 Services -$21 334 Meters and Meter Installations -$22 335 Hydrants -$23 336 Backflow Prevention Devices -$24 339 Other Plant and Misc. Equipment -$25 340 Office Furniture and Equipment -$26 340.1 Computer & Software (394)$27 341 Transportation Equipment -$28 341.1 Transportation Equipment - Leased Vehicles -$29 342 Stores Equipment -$30 343 Tools, Shop and Garage Equipment -$31 344 Laboratory Equipment -$32 345 Power Operated Equipment -$33 346 Communication Equipment (388)$34 347 Miscellaneous Equipment -$35 348 Other Tangible Plant -$36 Total (54,205)$37 38 39 40 Supporting Schedules Recap Schedules 41 Work papers B-2, page 2

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule B-2 Test Year Ended December 31, 2024 Page 9 Rate Base Adjustment No. 7 - Capitalized Bonuses Line No. NARUC Description Settlement Adjustment 1 301 Organization -$2 302 Franchises -$3 303 Land and Land Rights (515)$4 304 Structures and Improvements (25,280)$5 305 Collecting & Improving Reservoirs -$6 306 Lake, River, Canal Intakes -$7 307 Wells and Springs (13,909)$8 308 Infiltration Galleries -$9 309 Supply Mains (512)$10 310 Power Generation Equipment -$11 311 Pumping Equipment -$12 320 Water Treatment Equipment -$13 320.1 Water Treatment Plants (1,839)$14 320.2 Solution Chemical Feeders -$15 320.3 Point-of-Use Treatment Devices -$16 330 Distribution Reservoirs and Standpipes -$17 330.1 Storage Tanks (442)$18 330.2 Pressure Tanks -$19 331 Transmission and Distribution Mains (20,854)$20 333 Services (66)$21 334 Meters and Meter Installations (2,658)$22 335 Hydrants -$23 336 Backflow Prevention Devices -$24 339 Other Plant and Misc. Equipment -$25 340 Office Furniture and Equipment -$26 340.1 Computer & Software -$27 341 Transportation Equipment -$28 341.1 Transportation Equipment - Leased Vehicles -$29 342 Stores Equipment -$30 343 Tools, Shop and Garage Equipment -$31 344 Laboratory Equipment -$32 345 Power Operated Equipment -$33 346 Communication Equipment (11)$34 347 Miscellaneous Equipment -$35 348 Other Tangible Plant -$36 Total (66,088)$37 38 39 40 Supporting Schedules Recap Schedules 41 Work papers B-2, page 2

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule B-2 Test Year Ended December 31, 2024 Page 10 Rate Base Adjustment No. 8 - Allowance for Working Capital Line No. NARUC Description Company Test Year As Filed Staff Test Year Adjustments Staff Test Year as Adjusted Net Lag Days Lead/Lag Factor Dollar Days Company Dollar Days Staff 1 601 Salaries and Wages (Biweekly Payroll) 3,762,054$-$3,762,054$37.32 0.1023 384,678$384,678$2 601 Salaries and Wages (Incentive Pay) 464,128$(285,600)$178,528$-158.05 -0.4330 (200,979)$(77,307)$3 601 Salaries and Wages (Other) 835$-$835$-10.20 -0.0280 (23)$(23)$4 604 Employee Pensions and Benefits - (401k) 125,342$-$125,342$-20.05 -0.0549 (6,887)$(6,887)$5 604 Employee Pensions and Benefits - (Insurance Benefits) 750,219$(141,732)$608,487$133.50 0.3657 274,387$222,549$6 604 Employee Pensions and Benefits - (Other) 98,741$(42,848)$55,893$-10.20 -0.0280 (2,760)$(1,562)$7 610 Purchased Water 7,229$-$7,229$-10.20 -0.0280 (202)$(202)$8 615 Purchased Power 1,132,866$-$1,132,866$14.49 0.0397 44,973$44,973$9 616 Fuel for Power Production 5,198$-$5,198$14.49 0.0397 206$206$10 618 Chemicals 114,545$240,000$354,545$-10.20 -0.0280 (3,202)$(9,910)$11 620 Materials and Supplies 39,163$-$39,163$-10.20 -0.0280 (1,095)$(1,095)$12 620.1 Repairs and Maintenance 67,883$-$67,883$-10.20 -0.0280 (1,898)$(1,898)$13 620.1 Office Supplies and Expense 440,099$(8,622)$431,477$-10.20 -0.0280 (12,302)$(12,061)$14 631 Contractual Services -Engineering -$-$-$0.00 0.0000 -$-$15 632 Contractual Services - Accounting 366,951$-$366,951$-10.20 -0.0280 (10,257)$(10,257)$16 633 Contractual Services - Legal 168,549$-$168,549$-10.20 -0.0280 (4,711)$(4,711)$17 634 Contractual Services - Management Fees -$-$-$0.00 0.0000 -$-$18 635 Contractual Services - Water Testing 87,203$(14,218)$72,985$-10.20 -0.0280 (2,438)$(2,040)$19 636 Contractual Services - Other 1,039,571$(32,370)$1,007,201$-10.20 -0.0280 (29,059)$(28,154)$20 641 Rental of Building/Real Property 168,493$-$168,493$-10.20 -0.0280 (4,710)$(4,710)$21 642 Rental of Equipment 10$-$10$-10.20 -0.0280 (0)$(0)$22 650 Transportation Expenses 163,199$(1,397)$161,802$-10.20 -0.0280 (4,562)$(4,523)$23 657 Insurance - General Liability 395,989$(56,754)$339,235$133.50 0.3657 144,830$124,073$24 658 Insurance - Worker's Comp 43,530$-$43,530$133.50 0.3657 15,921$15,921$25 660 Advertising -$-$-$0.00 0.0000 -$-$26 665 Regulatory Commission Expense - Rate -$-$-$0.00 0.0000 -$-$27 667 Regulatory Commission Expense - Other 41,421$-$41,421$-10.20 -0.0280 (1,158)$(1,158)$28 668 Water Resources Conservation Expense 50,000$(50,000)$-$-10.20 -0.0280 (1,398)$-$29 670 Bad Debt Expense 31,241$-$31,241$-10.20 -0.0280 (873)$(873)$30 675 Miscellaneous Expense 1,453,586$(82,418)$1,371,168$-10.20 -0.0280 (40,631)$(38,328)$31 403 Depreciation Expense 6,797,834$(593,933)$6,203,901$0.00 0.0000 -$-$32 408 Taxes Other Than Income 97,114$-$97,114$-10.20 -0.0280 (2,715)$(2,715)$33 408.11 Property Taxes 1,319,558$(79,973)$1,239,585$-168.05 -0.4604 (607,554)$(570,732)$34 408.12 Payroll Taxes 383,534$-$383,534$32.32 0.0886 33,963$33,963$35 409 Income Taxes 246,668$316,306$562,974$7.95 0.0218 5,370$12,256$36 427.1 Customer Security Deposit Interest 89,676$-$89,676$-10.20 -0.0280 (2,507)$(2,507)$37 Interest -$1,405,851$1,405,851$-91.25 -0.2500 -$(351,463)$38 Application Difference (796)$-$39 Total 19,952,429$572,291$20,524,720$40 41 WORKING CASH REQUIREMENT COMPANY PROPOSED (38,387)$42 WORKING CASH REQUIREMENT STAFF RECOMMENDED (294,496)$43 WORKING CASH REQUIREMENT ADJUSTMENT (256,110)$44 45 Cash Working Capital Requirement (Co Schedule B-5) (38,387)$(256,110)$(294,496)$46 Required Bank Balances -$-$-$47 Material and Supplies Inventories -$-$-$48 Prepayments -$-$-$49 Allowance for Working Capital (38,387)$(256,110)$(294,496)$50 51 Supporting Schedules Recap Schedules 52 Work papers B-2, page 2

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule B-2 Test Year Ended December 31, 2024 Page 11 Rate Base Adjustment No. 9 - Accumulated Depreciation Line No. NARUC Description Company as Filed Adjustment Staff Adjusted 1 301 Organization -$-$-$2 302 Franchises -$-$-$3 303 Land and Land Rights -$-$-$4 304 Structures and Improvements 6,285,539$(2,715,540)$3,569,999$5 305 Collecting & Improving Reservoirs -$-$-$6 306 Lake, River, Canal Intakes 858$-$858$7 307 Wells and Springs 3,895,540$(7,113)$3,888,427$8 308 Infiltration Galleries -$-$-$9 309 Supply Mains 924,259$(15,927)$908,332$10 310 Power Generation Equipment 413,430$(74,634)$338,796$11 311 Pumping Equipment 8,244,174$(283,797)$7,960,377$12 320 Water Treatment Equipment 36,733$20,651$57,383$13 320.1 Water Treatment Plants 314,124$(747)$313,377$14 320.2 Solution Chemical Feeders 197,937$(21,837)$176,100$15 320.3 Point-of-Use Treatment Devices -$-$-$16 330 Distribution Reservoirs and Standpipes -$39$39$17 330.1 Storage Tanks 964,065$(19,960)$944,104$18 330.2 Pressure Tanks 714,690$1,187$715,876$19 331 Transmission and Distribution Mains 19,302,238$(3,379,361)$15,922,877$20 333 Services 3,884,391$14,202$3,898,593$21 334 Meters and Meter Installations 8,560,776$(119,240)$8,441,536$22 335 Hydrants 1,782,534$(11,516)$1,771,018$23 336 Backflow Prevention Devices 25,661$80$25,741$24 339 Other Plant and Misc. Equipment 332,095$(690)$331,405$25 340 Office Furniture and Equipment 504,149$(24,210)$479,939$26 340.1 Computer & Software 1,147,751$111,450$1,259,201$27 341 Transportation Equipment 972,858$(786,397)$186,462$28 341.1 Transportation Equipment - Leased Vehicles 95,180$(50,491)$44,689$29 342 Stores Equipment 2,841$(888)$1,953$30 343 Tools, Shop and Garage Equipment 87,760$(402)$87,359$31 344 Laboratory Equipment 139,236$(9,362)$129,874$32 345 Power Operated Equipment 143,669$5,759$149,428$33 346 Communication Equipment 376,286$(3,108)$373,178$34 347 Miscellaneous Equipment 181,603$(111,062)$70,540$35 348 Other Tangible Plant 2,907,377$7,301$2,914,678$36 Total 62,437,755$(7,475,615)$54,962,140$37 38 39 Supporting Schedules Recap Schedules 40 Work papers B-2, page 2 41

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule B-2 Test Year Ended December 31, 2024 Page 12 Rate Base Adjustment No. 10 - CIAC Line No. Settlement Adjustment 1 2 As filed: 3 NARUC # NARUC Description Asset Cost 4 331 Transmission and Distribution Mains (7,654,082)$5 6 Updated Asset Details: 7 NARUC # NARUC Description 8 304 Structures and Improvements 465,430$9 307 Wells and Springs 5,086,605$10 310 Power Generation Equipment 121,697$11 311 Pumping Equipment 50,255$12 320 Water Treatment Equipment 974,234$13 330 Distribution Reservoirs and Standpipes 3,485$14 331 Transmission and Distribution Mains 952,375$15 TOTAL 7,654,082$16 17 18 19 20 21 22 CIAC Increase (decrease) 430,801$23 24 Supporting Schedules Recap Schedules 25 Work papers B-2, page 2 26 27 28

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule B-2 Test Year Ended December 31, 2024 Page 13 Rate Base Adjustment No. 11 - ADIT Line No. NARUC Description Test Year as Filed Corrected Test Year Settlement Adjustment 1 2 3 281 Accumulated Deferred Income Tax Liability (Asset) 2,798,145$2,721,440$(76,705)$4 5 281 Accumulated Deferred Income Tax Liability (Asset) -$($1,199,323) (1,199,323)$6 7 8 Supporting Schedules Recap Schedules 9 Work papers B-2, page 2 10

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-1 Test Year Ended December 31, 2024 Adjusted Test Year Income Statement [A] [B] [C] [D] [E] Line No. Adjusted Test Year As Filed Settlement Adjustments Settlement Adjusted Proposed Rate Increase Adjusted with Rate Increase 1 Operating Revenue 2 461 Metered Water Revenue 21,642,150$-$21,642,150$2,254,822$23,896,972$3 460 Unmetered Water Revenue - - - - - 4 462 Fire Protection Revenue - - - - - 5 469 Guaranteed Revenues (Surcharges) - - - - - 6 471 Miscellaneous Service Revenues - - - - - 7 474 Other Water Revenue 583,172 - 583,172 - 583,172 8 Total Revenues 22,225,322$-$22,225,322$2,254,822$24,480,144$9 10 Operating Expenses 11 601 Salaries and Wages 4,227,017$(285,600)$3,941,417$-$3,941,417$12 604 Employee Pensions and Benefits 974,302 (184,580) 789,722 - 789,722 13 610 Purchased Water 7,229 - 7,229 - 7,229 14 615 Purchased Power 1,132,866 - 1,132,866 - 1,132,866 15 616 Fuel for Power Production 5,198 - 5,198 - 5,198 16 618 Chemicals 114,545 240,000 354,545 - 354,545 17 620 Materials and Supplies 39,163 - 39,163 - 39,163 18 620.1 Repairs and Maintenance 67,883 - 67,883 - 67,883 19 620.2 Office Supplies and Expense 440,099 (8,622) 431,477 - 431,477 20 630 Contractual Services - - - - - 21 631 Contractual Services - Engineering - - - - - 22 632 Contractual Services - Accounting 366,951 - 366,951 - 366,951 23 633 Contractual Services - Legal 168,549 - 168,549 - 168,549 24 634 Contractual Services - Management Fees - - - - - 25 635 Contractual Services - Water Testing 87,203 (14,218) 72,985 - 72,985 26 636 Contractual Services - Other 1,039,571 (32,370) 1,007,201 - 1,007,201 27 640 Rents - - - - - 28 641 Rental of Building/Real Property 168,493 - 168,493 - 168,493 29 642 Rental of Equipment 10 - 10 - 10 30 650 Transportation Expenses 163,199 (1,397) 161,802 - 161,802 31 656 Insurance - Vehicles - - - - - 32 657 Insurance - General Liability 395,989 (56,754) 339,235 - 339,235 33 658 Insurance - Worker's Comp 43,530 - 43,530 - 43,530 34 657.1 Insurance - Health and Life - - - - - 35 660 Advertising - - - - - 36 665 Regulatory Commission Expense - Rate - - - - - 37 667 Regulatory Commission Expense - Other 41,421 - 41,421 - 41,421 38 668 Water Resource Conservation Expense 50,000 (50,000) - - - 39 670 Bad Debt Expense 31,241 - 31,241 3,170 34,411 40 675 Miscellaneous Expense 1,453,586 (82,418) 1,371,168 - 1,371,168 41 403 Depreciation Expense 6,797,834 (593,933) 6,203,900 - 6,203,900 42 408 Taxes Other Than Income 97,114 - 97,114 - 97,114 43 408.11 Property Taxes 1,319,558 (79,973) 1,239,585 41,162 1,280,747 44 408.12 Payroll Taxes 383,534 - 383,534 - 383,534 45 409 Income Taxes 246,668 316,306 562,974 - 562,974 46 427.1 Customer Security Deposit Interest 89,676 - 89,676 - 89,676 47 Total Operating Expenses 19,952,429$(833,560)$19,118,869$44,331$19,163,200$48 49 Operating Income / (Loss) 2,272,893$833,560$3,106,453$2,210,491$5,316,943$50 51 Other Income / (Expense) 52 414 Gain/Loss on Dispositions (13,631)$-$(13,631)$-$(13,631)$53 419 Interest and Dividend Income 22,325 - 22,325 - 22,325 54 421 Non-Utility Income 27,662 - 27,662 - 27,662 55 426 Miscellaneous Non-Utility (Expense) (780) - (780) - (780) 56 427 Interest (Expense) (1,527,771) - (1,527,771) - (1,527,771) 57 Total Other Income / (Expense) (1,492,194)$-$(1,492,194)$-$(1,492,194)$58 59 Net Income / (Loss) 780,698$833,560$1,614,258$2,210,491$3,824,749$60 61 Supporting Schedules: Recap Schedules 62 Direct C-1 A-1 63 C-2

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-2 Test Year Ended December 31, 2024 Page 1 Adjusted Test Year Income Statement 1 2 3 4 5 6 7 Cont Serv - Testing Cont Serv- Other Salaries and Wages - Incentive Pay Pensions & Benefits Misc. Expenses Office Supplies Uranium Media Treatment ADJ No. 1 ADJ No. 2 ADJ No. 3 ADJ No. 4 ADJ No. 5 ADJ No. 6 ADJ No. 7 Line No. Adjusted Test Year As Filed C-2 page 2 C-2 page 3 C-2 page 4 C-2 page 5 C-2 page 6 C-2 page 7 C-2 page 8 1 Operating Revenue 2 461 Metered Water Revenue 21,642,150$3 460 Unmetered Water Revenue - 4 462 Fire Protection Revenue - 5 469 Guaranteed Revenues (Surcharges) - 6 471 Miscellaneous Service Revenues - 7 474 Other Water Revenue 583,172 8 Total Revenues 22,225,322$-$-$-$-$-$-$-$9 10 Operating Expenses 11 601 Salaries and Wages 4,227,017$(285,600)$12 604 Employee Pensions and Benefits 974,302 (184,580)$13 610 Purchased Water 7,229 14 615 Purchased Power 1,132,866 15 616 Fuel for Power Production 5,198 16 618 Chemicals 114,545 240,000$17 620 Materials and Supplies 39,163 18 620.1 Repairs and Maintenance 67,883 19 620.2 Office Supplies and Expense 440,099 (8,622)$20 630 Contractual Services - 21 631 Contractual Services - Engineering - 22 632 Contractual Services - Accounting 366,951 23 633 Contractual Services - Legal 168,549 24 634 Contractual Services - Management Fees - 25 635 Contractual Services - Water Testing 87,203 (14,218)$26 636 Contractual Services - Other 1,039,571 (32,370)$27 640 Rents - 28 641 Rental of Building/Real Property 168,493 29 642 Rental of Equipment 10 30 650 Transportation Expenses 163,199 31 656 Insurance - Vehicles - 32 657 Insurance - General Liability 395,989 33 658 Insurance - Worker's Comp 43,530 34 657.1 Insurance - Health and Life - 35 660 Advertising - 36 665 Regulatory Commission Expense - Rate - 37 667 Regulatory Commission Expense - Other 41,421 38 668 Water Resource Conservation Expense 50,000 39 670 Bad Debt Expense 31,241 40 675 Miscellaneous Expense 1,453,586 (70,737)$41 403 Depreciation Expense 6,797,834 42 408 Taxes Other Than Income 97,114 43 408.11 Property Taxes 1,319,558 44 408.12 Payroll Taxes 383,534 45 409 Income Taxes 246,668 46 427.1 Customer Security Deposit Interest 89,676 47 48 Total Operating Expenses 19,952,429$(14,218)$(32,370)$(285,600)$(184,580)$(70,737)$(8,622)$240,000$49 50 Operating Income / (Loss) 2,272,893$14,218$32,370$285,600$184,580$70,737$8,622$(240,000)$51 52 Other Income / (Expense) 53 414 Gain/Loss on Dispositions (13,631)$54 419 Interest and Dividend Income 22,325 55 421 Non-Utility Income 27,662 56 426 Miscellaneous Non-Utility (Expense) (780) 57 427 Interest (Expense) (1,527,771) 58 59 Total Other Income / (Expense) (1,492,194)$-$-$-$-$-$-$-$60 61 Net Income / (Loss) 780,698$14,218$32,370$285,600$184,580$70,737$8,622$(240,000)$62 63 Supporting Schedules: Recap Schedules 64 C-2 p2-12 C-1 65

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Global Water - Santa Cruz Water Company, Inc. Test Year Ended December 31, 2024 Adjusted Test Year Income Statement Line No. 1 Operating Revenue 2 461 Metered Water Revenue 3 460 Unmetered Water Revenue 4 462 Fire Protection Revenue 5 469 Guaranteed Revenues (Surcharges) 6 471 Miscellaneous Service Revenues 7 474 Other Water Revenue 8 Total Revenues 9 10 Operating Expenses 11 601 Salaries and Wages 12 604 Employee Pensions and Benefits 13 610 Purchased Water 14 615 Purchased Power 15 616 Fuel for Power Production 16 618 Chemicals 17 620 Materials and Supplies 18 620.1 Repairs and Maintenance 19 620.2 Office Supplies and Expense 20 630 Contractual Services 21 631 Contractual Services - Engineering 22 632 Contractual Services - Accounting 23 633 Contractual Services - Legal 24 634 Contractual Services - Management Fees 25 635 Contractual Services - Water Testing 26 636 Contractual Services - Other 27 640 Rents 28 641 Rental of Building/Real Property 29 642 Rental of Equipment 30 650 Transportation Expenses 31 656 Insurance - Vehicles 32 657 Insurance - General Liability 33 658 Insurance - Worker's Comp 34 657.1 Insurance - Health and Life 35 660 Advertising 36 665 Regulatory Commission Expense - Rate 37 667 Regulatory Commission Expense - Other 38 668 Water Resource Conservation Expense 39 670 Bad Debt Expense 40 675 Miscellaneous Expense 41 403 Depreciation Expense 42 408 Taxes Other Than Income 43 408.11 Property Taxes 44 408.12 Payroll Taxes 45 409 Income Taxes 46 427.1 Customer Security Deposit Interest 47 48 Total Operating Expenses 49 50 Operating Income / (Loss) 51 52 Other Income / (Expense) 53 414 Gain/Loss on Dispositions 54 419 Interest and Dividend Income 55 421 Non-Utility Income 56 426 Miscellaneous Non-Utility (Expense) 57 427 Interest (Expense) 58 59 Total Other Income / (Expense) 60 61 Net Income / (Loss) 62 63 Supporting Schedules: 64 C-2 p2-12 65 Settlement Schedule C-2 Page 1.2 8 9 10 11 12 13 14 15 Water Resource Conservation NAWC Fees DO Insurance European Roadshow Charitable Contributions Depreciation Property Tax Income Tax ADJ No. 8 ADJ No. 9 ADJ No. 10 ADJ No. 11 ADJ No. 12 ADJ No. 13 ADJ No. 14 ADJ No. 15 C-2 page 9 C-2 page 10 C-2 page 11 C-2 page 12 C-2 page 13 C-2 page 14 C-2 page 15 C-2 page 16 Settlement Adjusted 21,642,150$- - - - 583,171.51 -$-$-$-$-$-$-$-$22,225,322$3,941,417$789,722 7,229 1,132,866 5,198 354,545 39,163 67,883 431,477 - - 366,951 168,549 - 72,985 1,007,201 - 168,493 10 (1,397)$161,802 - (56,754)$339,235 43,530 - - - 41,421 (50,000)$- 31,241 (9,815)$(1,867)$1,371,168 (593,933)$6,203,900 97,114 (79,973)$1,239,585 383,534 316,306$562,974 89,676 (50,000)$(9,815)$(56,754)$(1,397)$(1,867)$(593,933)$(79,973)$316,306$19,118,869$50,000$9,815$56,754$1,397$1,867$593,933$79,973$(316,306)$3,106,453$(13,631)$22,325 27,662 (780) (1,527,771) -$-$-$-$-$-$-$-$(1,492,194)$50,000$9,815$56,754$1,397$1,867$593,933$79,973$(316,306)$1,614,258$

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-2 Test Year Ended December 31, 2024 Page 2 Income Statement Adjustment 1 Water Testing Fees Line No. NARUC Description Company Proposed Adjustment Settlement Adjusted 1 2 635 Contractual Services - Water Testing 87,203$(14,218)$72,985 3 Total 87,203$(14,218)$72,985$4 5 6 7 Total Adjustment (14,218)$8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-2 Test Year Ended December 31, 2024 Page 3 Income Statement Adjustment 2 Professional Services Fees Line No. NARUC Description Company Proposed Adjustment Settlement Adjusted 1 2 636 Contractual Services - Other 1,039,571$(32,370)$1,007,201 3 Total 1,039,571$(32,370)$1,007,201$4 5 6 7 Total Adjustment (32,370)$8 9 10 11 12 13 14 15 16 17 18

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-2 Test Year Ended December 31, 2024 Page 4 Income Statement Adjustment 3 Bonus/Incentive Pay Line No. NARUC Description Company Proposed Adjustment Settlement Adjusted 1 2 601 Salaries and Wages 4,227,017$(285,600)$3,941,417 3 Total 4,227,017$(285,600)$3,941,417$4 5 6 7 Total Adjustment (285,600)$8 9

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-2 Test Year Ended December 31, 2024 Page 5 Income Statement Adjustment 4 Employee Relations Line No. NARUC Description Company Proposed Adjustment Settlement Adjusted 1 2 604 Employee Pensions and Benefits 974,302$(184,580)$789,722 3 Total 974,302$(184,580)$789,722$4 5 6 7 Total Adjustment (184,580)$8 9

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-2 Test Year Ended December 31, 2024 Page 6 Income Statement Adjustment 5 Board of Directors Fees Line No. NARUC Description Company Proposed Adjustment Settlement Adjusted 1 2 675 Miscellaneous Expense 1,453,586$(70,737)$1,382,849 3 Total 1,453,586$(70,737)$1,382,849$4 5 6 7 Total Adjustment (70,737)$8 9

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-2 Test Year Ended December 31, 2024 Page 7 Income Statement Adjustment 6 Office Supplies Line No. NARUC Description Company Proposed Adjustment Settlement Adjusted 1 2 620.2 Office Supplies and Expense 440,099$(8,622)$431,477 3 Total 440,099$(8,622)$431,477$4 5 6 7 Total Adjustment (8,622)$8 9

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-2 Test Year Ended December 31, 2024 Page 8 Income Statement Adjustment 7 Uranium Media Treatment Line No. NARUC Description Company Proposed Adjustment Settlement Adjusted 1 2 618 Chemicals 114,545$240,000$354,545 3 Total 114,545$240,000$354,545$4 5 6 7 Total Adjustment 240,000$8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-2 Test Year Ended December 31, 2024 Page 9 Income Statement Adjustment 8 Water Conservation Expense Line No. NARUC Description Company Proposed Adjustment Settlement Adjusted 1 2 668 Water Resource Conservation Expense 50,000$(50,000)$- 3 Total 50,000$(50,000)$-$4 5 6 7 Total Adjustment (50,000)$8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-2 Test Year Ended December 31, 2024 Page 10 Income Statement Adjustment 9 NAWC Fees Line No. NARUC Description Amount in Adjusted Test Year Adjustment Settlement Adjusted 1 2 675 Miscellaneous Expense 3 4 NAWC Fees 19,629$(9,815)$9,815$5 6 7 8 Total Adjustment (9,815)$9 10 11 12 13 14 15 16

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-2 Test Year Ended December 31, 2024 Page 11 Income Statement Adjustment 10 D&O Insurance Line No. NARUC Description Amount in Adjusted Test Year Adjustment Settlement Adjusted 1 2 657 Insurance - General Liability 3 4 D&O Insurance 113,508$(56,754)$56,754$5 6 7 Total Adjustment (56,754)$8 9 10 11 12 13

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-2 Test Year Ended December 31, 2024 Page 12 Income Statement Adjustment 11 European Road Show Line No. NARUC Description Company Proposed Adjustment Settlement Adjusted 1 2 650 Transportation Expenses 163,199$(1,397)$161,802 3 Total 163,199$(1,397)$161,802$4 5 6 Total Adjustment (1,397)$7 8 9 10 11 12 13

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-2 Test Year Ended December 31, 2024 Page 13 Income Statement Adjustment 12 Charitable Contributions Line No. NARUC Description Amount in Adjusted Test Year Adjustment Settlement Adjusted 1 2 675 Miscellaneous Expense 3 4 Charitable Contributions 1,867$(1,867)$-$5 6 7 Total Adjustment (1,867)$8 9 10 11 12 13

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-2 Test Year Ended December 31, 2024 Page 14 Income Statement Adjustment 13 Annualized Depreciation and Amortization Line No. NARUC Description Settlement Adjusted PIS Fully or Non- Depr Plant Depreciable Plant Rate Depreciation 1 301 Organization 72,896$72,896$-$0.00% -$2 302 Franchises 300,241$300,241 - 0.00% - 3 303 Land and Land Rights 263,901$263,901 - 0.00% - 4 304 Structures and Improvements 20,518,059$- 20,518,059 3.33% 683,251 5 305 Collecting & Improving Reservoirs -$- - 2.50% - 6 306 Lake, River, Canal Intakes 1,855$- 1,855 2.50% 46 7 307 Wells and Springs 20,527,110$- 20,527,110 3.33% 683,553 8 308 Infiltration Galleries -$- - 6.67% - 9 309 Supply Mains 3,006,741$- 3,006,741 2.00% 60,135 10 310 Power Generation Equipment 1,236,710$- 1,236,710 5.00% 61,836 11 311 Pumping Equipment 10,706,874$6,933,178 3,773,696 12.50% 471,712 12 320 Water Treatment Equipment 2,305,948$- 2,305,948 3.33% 76,788 13 320.1 Water Treatment Plants 669,818$- 669,818 3.33% 22,305 14 320.2 Solution Chemical Feeders 477,387$46,087 431,300 20.00% 86,260 15 320.3 Point-of-Use Treatment Devices -$- - 10.00% - 16 330 Distribution Reservoirs and Standpipes 3,485$- 3,485 2.22% 77 17 330.1 Storage Tanks 3,662,362$- 3,662,362 2.22% 81,304 18 330.2 Pressure Tanks 767,542$47,464 720,079 5.00% 36,004 19 331 Transmission and Distribution Mains 95,019,948$- 95,019,948 2.00% 1,900,399 20 333 Services 16,094,558$- 16,094,558 3.33% 535,949 21 334 Meters and Meter Installations 15,808,036$79,031 15,729,005 8.33% 1,310,226 22 335 Hydrants 8,109,758$- 8,109,758 2.00% 162,195 23 336 Backflow Prevention Devices 68,587$11,549 57,039 6.67% 3,804 24 339 Other Plant and Misc. Equipment 728,402$145,236 583,166 6.67% 38,897 25 340 Office Furniture and Equipment 719,959$402,529 317,430 6.67% 21,173 26 340.1 Computer & Software 1,558,359$216,199 1,342,160 20.00% 268,432 27 341 Transportation Equipment 1,058,956$618,706 440,250 20.00% 88,050 28 341.1 Transportation Equipment - Leased Vehi 357,510$- 357,510 25.00% 89,377 29 342 Stores Equipment 26,554$- 26,554 4.00% 1,062 30 343 Tools, Shop and Garage Equipment 167,096$- 167,096 5.00% 8,355 31 344 Laboratory Equipment 162,786$21,651 141,136 10.00% 14,114 32 345 Power Operated Equipment 676,637$- 676,637 5.00% 33,832 33 346 Communication Equipment 492,476$319,749 172,726 10.00% 17,273 34 347 Miscellaneous Equipment 241,629$95,536 146,093 10.00% 14,609 35 348 Other Tangible Plant 3,276,834$2,764,042 512,792 10.00% 51,279 36 37 Total 209,089,015$12,337,995$196,751,020$6,822,298$38 39 Amortization of CIAC Gross CIAC Amort. Rate 40 Contributions in Aid of Construction (CIAC) 17,834,214$3.47% (618,397)$41 42 Total 6,203,900$43 Adjusted TY Depreciation and Amortization Expense 6,797,834$44 Increase(Decrease) in Depreciation and Amortization Expense (593,933)$45 46 Supporting Schedules: Recap Schedules 47 B-2, page 2 C-2 48 Work papers 49 50

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-2 Test Year Ended December 31, 2024 Page 15 Income Statement Adjustment 14 Property Taxes Line No. Rejoinder Adjusted Proposed 1 Adjusted Test Year Revenues 22,225,322$22,225,322$2 Weight Factor 2 2 3 Subtotal (Line 1 \* Line 2) 44,450,643$44,450,643$4 Proposed Revenue Requirement 22,225,322$24,480,144$5 Subtotal (Line 3 + Line 4) 66,675,965$68,930,787$6 Number of Years 3 3 7 Three Year Average (Line 5 / Line 6) 22,225,322$22,976,929$8 Department of Revenue Multiplier 2 2 9 Revenue Base Value (Line 7 \* Line 8) 44,450,643$45,953,858$10 Plus: 10% of CWIP - 1,221,690$1,221,690$11 Less: Net Book Value of Licensed Vehicles 403,003$403,003$12 Full Cash Value (Line 9 + Line 10 - Line 11) 45,269,330$46,772,545$13 Assessment Ratio 15.50% 15.50% 14 Assessment Value (Line 12 \* Line 13) 7,016,746$7,249,744$15 Composite Property Tax Rate 17.67% 17.67% 16 17 Property Tax (Line 14 \* Line 15) 1,239,585$18 Adjusted Test Year Property Tax Expense 1,319,558$19 20 Test Year Adjustment (Line 17-Line 18) (79,973)$21 Property Tax - Recommended Revenue (Line 14 \* Line 15) 1,280,747$22 Test Year Adjusted Property Tax Expense (Line 17) 1,239,585$23 Increase in Property Tax Expense Due to Increase in Revenue Requirement 41,162$24 25 Increase to Property Tax Expense 41,162$26 Increase in Revenue Requirement 2,254,822$27 Increase to Property Tax per Dollar Increase in Revenue (Line25/Line 26) 1.83% 28 29 Supporting Schedules: Recap Schedules 30 C-2 C-2 31 32

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-2 Test Year Ended December 31, 2024 Page 16 Income Statement Adjustment 15 Income Taxes Line No. NARUC Description Company Proposed Adjustment Staff Recommended 1 409 Income Taxes 246,668$316,306$562,974$2 Total 246,668$316,306$562,974$3 4 5 6 7 Supporting Schedules: Recap Schedules 8 C-2 C-2 9 C-3

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-3 Test Year Ended December 31, 2024 Page 1 Adjusted Test Year Income Statement Line No. Description Percentage of Incremental Gross Revenues 1 Combined Federal and State Effective Income Tax Rate 24.87% 2 Uncollectible Revenue Effective Rate 0.11% 3 Property Taxes Effective Rate 1.37% 4 Total Tax Percentage 26.35% 5 6 Operating Income % = 100% - Tax Percentage 73.65% 7 8 1 = Gross Revenue Conversion Factor 9 Operating Income % 1.358 10 11 12 13 Supporting Schedules: Recap Schedules 14 C-3 page 2 A-1 15 16 17

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-3 Test Year Ended December 31, 2024 Page 2 Adjusted Test Year Income Statement Line No. Description (A) (B) (C) 1 Calculation of Gross Revenue Conversion Factor: 2 Revenue 100.0% 3 Uncollectible Factor 0.1056% 4 Revenues 99.89% 5 Combined Federal and State Income Tax and Property Tax Rate 26.24% 6 Subtotal 73.65% 7 Revenue Conversion Factor 1.357738 8 9 Calculation of Uncollectible Factor: 10 Unity 100.0% 11 Combined Federal and State Tax Rate 24.9% 12 One Minus Combined Income Tax Rate 75.1% 13 Uncollectible Rate 0.141% 14 Uncollectible Factor 0.1056% 15 16 Calculation of Effective Tax Rate: 17 Operating Income Before Taxes (Arizona Taxable Income) 100.0% 18 Arizona State Income Tax Rate 4.9% 19 Federal Taxable Income 95.1% 20 Applicable Federal Income Tax Rate 21.0% 21 Effective Federal Income Tax Rate 20.0% 22 Combined Federal and State Income Tax Rate 24.87% 23 24 Calculation of Effective Property Tax Factor 25 Unity 100.0% 26 Combined Federal and State Income Tax Rate 24.9% 27 One Minus Combined Income Tax Rate 75.1% 28 Property Tax Factor 1.83% 29 Effective Property Tax Factor 1.37% 30 Combined Federal and State Income Tax and Property Tax Rate 26.24% 31 32 33 Required Operating Income 4,767,172$34 Rebuttal Adjusted Test Year Operating Income (Loss) 3,106,453$35 Required Increase in Operating Income 1,660,720$36 37 Income Taxes on Recommended Revenue 1,112,745$38 Income Taxes on Test Year Revenue 562,974 39 Required Increase in Revenue to Provide for Income Taxes 549,771$40 41 Recommended Revenue Requirement 24,480,144$42 Uncollectible Rate 0.1406% 43 Uncollectible Expense on Recommended Revenue 34,411$44 Adjusted Test Year Uncollectible Expense 31,241$45 Required Increase in Revenue to Provide for Uncollectible Exp. 3,170$46 47 Property Tax with Recommended Revenue 1,280,747$48 Property Tax on Test Year Revenue 1,239,585 49 Increase in Property Tax Due to Increase in Revenue 41,162$50 Rounding 2$51 Total Required Increase in Revenue 2,254,824$52 53 (A) (B) 54 Calculation of Income Tax: Rebuttal Adjusted Test Year Company Recommended 55 Revenue 22,225,322$24,480,144$56 Operating Expenses Excluding Income Taxes 18,555,895 18,600,227 57 Synchronized Interest 1,405,851 1,405,851 58 Arizona Taxable Income 2,263,575$4,474,066$59 Arizona State Effective Income Tax Rate 4.9% 4.9% 60 Arizona Income Tax 110,915$219,229$61 Federal Taxable Income 2,152,660$4,254,836$62 Federal Tax Rate 21.0% 21.0% 63 Federal Income Taxes 452,059$893,516$64 65 Combined Federal and State Income Tax 562,974$1,112,745$66 67 Applicable Federal Income Tax Rate 21.0% 68 69 Calculation of Interest Synchronization: Water 70 Rate Base 63,613,187$71 Weighted Average Cost of Debt 2.21% 72 Synchronized Interest 1,405,851$73 74 75 Supporting Schedules: Recap Schedules 76 A-1 C-3 77 B-1 78 C-1 79 D-1 80 GROSS REVENUE CONVERSION FACTOR

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule D-1 Test Year Ended December 31, 2024 Summary of Cost of Capital End of Test Year - Actual Line No. Description Dollar Amount Percent of Total Rate of Return Weighted Return 1 2 Short-Term Debt -$0.00% 0.00% 0.00% 3 Long-Term Debt - 0.00% 0.00% 0.00% 4 Common Equity 68,757,372 100.00% 4.52% 4.52% 5 6 Totals 68,757,372$100.00% 4.52% 7 8 9 10 Dollar Percent Rate of Weighted Dollar Percent Rate of Weighted 11 Amount of Total\* Return Cost Amount of Total Return Cost 12 13 Short-Term Debt -$0.00% 0.00% 0.00% -$0.00% 0.00% 0.00% 14 Long-Term Debt 30,940,817 45.00% 4.92% 2.21% 30,940,817 45.00% 4.92% 2.21% 15 Common Equity 37,816,554 55.00% 9.60% 5.28% 37,816,554 55.00% 9.60% 5.28% 16 17 Totals 68,757,372$100.00% 7.49% 68,757,372$100.00% 7.49% 18 19 \*Hypothetical Capital Structure, see testimony. 20 21 Supporting Schedules Recap Schedules 22 Direct D-2 A-1 23 COC testimony End of Test Year - Proposed End of Projected Year - Proposed Rates

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-1 Test Year Ended December 31, 2024 Page 1 of 3 Summary of Revenues by Classification [A] [B] [C] [D] Line No. Customer Classification Present Revenues Proposed Revenues $ Increase % Increase 1 Residential 15,796,106$17,413,206$1,617,100$10.24% 2 Commercial 1,478,239 1,612,152 133,913 9.06% 3 Irrigation 2,222,921 2,487,453 264,532 11.90% 4 Raw Water 375,378 407,554 32,175 8.57% 5 Construction Hydrant 1,046,186 1,171,604 125,418 11.99% 6 7 Total Water Revenues 20,918,832 23,091,970 2,173,138 10.39% 8 9 Annualized Revenues 723,318$803,610$80,292$11.10% 10 11 Total Metered Water Revenues with Annualization 21,642,150$23,895,580$2,253,430$10.41% 12 13 Other Water Revenues (Sch. C-1, L4) 583,172 583,172 - 0.00% 14 15 Variance of Design and Revenue Requirement - 1,392 1,392 16 17 Total Operating Revenues 22,225,321$24,480,144$2,254,822$10.15% 18 19 20 Revenue Reconciliation to General Ledger 21 22 Test Year Metered Water Revenue (Schedule C-2) 21,034,764$23 Accrued Revenue Adjustment (8,578) 24 TEAM revenues removed (107,354) 25 26 Meter Water Revenue Adjusted 20,918,832$27 28 Bill Count Revenue (Annualized) 20,918,832$29 30 Variance 0$31 Variance% 0.000% 32 33 34 Recap Schedules 35 A-1 36 C-2 37 H-1 38 Workpapers

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-1 Test Year Ended December 31, 2024 Page 2 of 3 Summary of Revenues by Classification [A] [B] [C] [D] [E] [F] Average Adjusted Line Number of With CRT Annualization Present Rates No. Class of Service Customers No CRT CRT [B+C] Adjustment [D+E] 1 5/8" Residential 1,632 924,011$(57,982)$866,029 36,677$902,706$2 3/4" Residential 26,194 15,756,024 (833,913) 14,922,111 565,159 15,487,270 3 1" residential 5 8,063 (97) 7,966 - 7,966 4 Residential Subtotal 27,831 16,688,098 (891,992) 15,796,106 601,836 16,397,942 5 6 5/8" Commercial 7 58,506 (69) 58,437 1,397 59,834 7 3/4" Commercial 9 8,371 (142) 8,229 1,283 9,512 8 1" Commercial 34 57,280 (698) 56,582 583 57,165 9 1.5" Commercial 50 193,862 (708) 193,154 2,769 195,924 10 2" Commercial 114 707,409 (971) 706,438 17,153 723,591 11 3" Commercial 12 227,826 (23) 227,803 (5,823) 221,980 12 4" Commercial 2 113,436 - 113,436 (51,558) 61,878 13 6" Commercial 2 114,167 (7) 114,160 - 114,160 14 Commercial Subtotal 230 1,480,857 (2,618) 1,478,239 (34,194) 1,444,045 15 16 5/8" Irrigation 8 10,291 (135) 10,156 (75) 10,081 17 3/4" Irrigation 47 44,701 (423) 44,278 3,623 47,902 18 1" Irrigation 60 158,403 (396) 158,007 6,104 164,110 19 1 1/2" Irrigation 47 384,382 (114) 384,269 6,970 391,239 20 2" Irrigation 112 1,451,106 (352) 1,450,753 46,083 1,496,836 21 3" Irrigation 2 107,635 (6) 107,629 134,273 241,902 22 4" Irrigation 2 67,830 (0) 67,829 2,935 70,764 23 Irrigation Subtotal 279 2,224,347 (1,425) 2,222,921 199,912 2,424,259 24 25 Raw Water - 375,378 0% 375,378 - 375,378 26 27 3/4" Hydrant 0 2,976 - 2,976 3,104 6,081 28 2" Construction Hydrant 74 1,024,647 (443) 1,024,204 (56,662) 967,542 29 3" Construction Hydrant 2 19,008 (3) 19,005 9,322 28,327 30 Subtotal Const.Hydrant 77 1,046,632 (446) 1,046,186 (44,236) 1,001,950 31 32 Total Residential 27,831 16,688,098 (891,992) 15,796,106 601,836 16,397,942 33 Total Commercial 230 1,480,857 (2,618) 1,478,239 (34,194) 1,444,045 34 Total Irrigation 279 2,224,347 (1,425) 2,222,921 199,912 2,422,834 35 Raw Water - 375,378 - 375,378 - 375,378 36 Total Const. Hydrant 77 1,046,632 (446) 1,046,186 (44,236) 1,001,950 37 Totals 28,417 21,815,313$(896,481)$20,918,832$723,318$21,642,150$38 Variance from Rate Design 39 Total Revenue Requirement Requested 21,642,150$ Present Revenue

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-1 Test Year Ended December 31, 2024 Page 3 of 3 Summary of Revenues by Classification [A] [G] [H] [I] [J] [K] [L] [M] Average Line Number of With CRT Annualization Total Annualized Increase No. Class of Service Customers No CRT CRT [G+H] Adjustment Revenue [K-F] % 1 5/8" Residential 30 1,021,946$(72,706)$949,239$39,472$988,711$86,004$9.53% 2 3/4" Residential 30 17,499,984 (1,044,605) 16,455,379 628,048 17,083,428 1,596,158 10.31% 3 1" residential 79 8,465 122 8,588 - 8,588 622 7.81% 4 Residential Subtotal 139 18,530,395 (1,117,189) 17,413,206 667,520 18,080,726 1,682,784 10.26% 5 6 5/8" Commercial 30 67,534 (87) 67,447 1,614 69,061 9,227 15.42% 7 3/4" Commercial 30 9,394 (180) 9,214 1,443 10,657 1,144 12.03% 8 1" Commercial 79 62,040 (879) 61,161 629 61,790 4,625 8.09% 9 1.5" Commercial 159 209,657 (892) 208,765 2,985 211,750 15,827 8.08% 10 2" Commercial 256 762,255 (1,223) 761,033 18,443 779,475 55,884 7.72% 11 3" Commercial 514 250,915 (30) 250,885 (6,411) 244,474 22,494 10.13% 12 4" Commercial 804 128,242 - 128,242 (58,287) 69,954 8,076 13.05% 13 6" Commercial 1,613 125,414 (9) 125,405 - 125,405 11,245 9.85% 14 Commercial Subtotal 3,486 1,615,452 (3,299) 1,612,152 (39,585) 1,572,567 128,522 8.90% 15 16 5/8" Irrigation 30 11,629 (170) 11,459 (85) 11,374 1,293 12.83% 17 3/4" Irrigation 30 50,166 (536) 49,630 4,075 53,705 5,803 12.12% 18 1" Irrigation 79 175,612 (503) 175,109 6,755 181,864 17,754 10.82% 19 1 1/2" Irrigation 159 430,991 (145) 430,846 7,816 438,662 47,423 12.12% 20 2" Irrigation 256 1,623,298 (448) 1,622,850 51,550 1,674,399 177,564 11.86% 21 3" Irrigation 514 122,217 (8) 122,209 152,478 274,687 32,785 13.55% 22 4" Irrigation 804 75,351 (1) 75,351 3,260 78,611 7,846 11.09% 23 Irrigation Subtotal 1,874 2,489,263 (1,810) 2,487,453 225,849 2,713,302 2,487,430 2.61% 24 25 Raw Water - 407,554 - 407,554 - 407,554 32,175 0.00% 26 27 3/4" Hydrant 30 3,433 - 3,433 3,584 7,017 936 15.40% 28 2" Construction Hydrant 256 1,148,784 (559) 1,148,226 (63,528) 1,084,698 117,156 12.11% 29 3" Construction Hydrant 514 19,949 (4) 19,945 9,770 29,715 1,388 4.90% 30 Subtotal Const. Hydrant 801 1,172,167 (563) 1,171,604 (50,174) 1,121,430 119,480 11.92% 31 32 Total Residential 139 16,296,017 (1,117,189) 17,413,206 667,520 18,080,726 1,682,784 10.26% 33 Total Commercial 3,486 1,608,853 (3,299) 1,612,152 (39,585) 1,572,567 128,522 8.90% 34 Total Irrigation 1,874 2,485,644 (1,810) 2,487,453 225,849 2,713,302 290,469 11.99% 35 Raw Water - 407,554 - 407,554 - 407,554 32,175 0.00% 36 Total Const. Hydrant 801 1,172,167 (563) 1,171,604 (50,174) 1,121,430 119,480 11.92% 37 Totals 6,300 21,970,235$(1,122,861)$23,091,970$803,610$23,895,580$2,253,430$10.41% 38 Variance from Rate Design - - 39 Total Revenue Requirement Requested 23,895,580$2,253,430$ Proposed Revenue

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-2 Test Year Ended December 31, 2024 Page 1 of 4 Bill Comparison at Average Consumption Line No. Class of Service Average No. of Customers Average Consumption (gallons) Bill at Present Rates Bill at Proposed Rates $ Change Over Present Bill % Change 1 5/8 " Residential 1,632 5,785 36.13$38.89$2.75$7.62% 2 3/4" Residential 26,194 6,599 47.66 52.96 5.30 11.13% 3 1" Residential 5 13,783 121.33 134.65 13.32 10.98% 4 Subtotal Residential 27,831 5 6 5/8" Commercial 7 110,786 698.60$806.89$108.29$15.50% 7 3/4" Commercial 9 9,632 58.33 65.58 7.24 12.42% 8 1" Commercial 34 14,185 126.84 136.76 9.92 7.82% 9 1.5" Commercial 50 29,943 295.67 318.71 23.04 7.79% 10 2" Commercial 114 44,784 490.09 526.94 36.85 7.52% 11 3" Commercial 12 161,936 1,519.00 1,672.54 153.54 10.11% 12 4" Commercial 2 670,524 5,155.80 5,828.74 672.94 13.05% 13 6" Commercial 2 482,615 4,727.63 5,192.75 465.12 9.84% 14 Subtotal Commercial 230 15 16 5/8" Irrigation 8 13,421 75.02$85.10$10.08$13.44% 17 3/4" Irrigation 47 9,796 58.91 66.26 7.35 12.48% 18 1" Irrigation 60 25,892 188.38 208.49 20.11 10.67% 19 1.5" Irrigation 47 85,260 659.66 739.68 80.02 12.13% 20 2" Irrigation 112 130,198 1,052.11 1,176.94 124.82 11.86% 21 3" Irrigation 2 542,050 4,020.15 4,565.21 545.06 13.56% 22 4" Irrigation 2 332,976 2,934.73 3,260.00 325.27 11.08% 23 Subtotal Irrigation 279 24 25 3/4" Hydrant 0 80,707 500.69$577.99$77.31$15.44% 26 2" Hydrant 74 141,614 1,127.23 1,263.81 136.58$12.12% 27 3" Hydrant 2 49,142 776.81 814.18 37.37$4.81% 28 Subtotal Hydrant 77 29 30 Total 28,417

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-2 Test Year Ended December 31, 2024 Page 2 of 4 Bill Comparison at Average Consumption with Rate Case Expense Surcharge Line No. Class of Service Average No. of Customers Average Consumption (gallons) Bill at Present Rates Bill at Proposed Rates RC Expense Surcharge Adjusted Bill at Proposed Rates $ Change Over Present Bill % Change 1 5/8 " Residential 1,632 5,785 36.13$38.89$0.29$39.18$3.04$8.42% 2 3/4" Residential 26,194 6,599 47.66 52.96 0.29 53.25 5.59 11.74% 3 1" Residential 5 13,783 121.33 134.65 0.29 134.94 13.61 11.22% 4 Subtotal Residential 27,831 5 6 5/8" Commercial 7 110,786 698.60$806.89$0.29$807.18$108.29$15.50% 7 3/4" Commercial 9 9,632 58.33 65.58 0.29 65.87 7.24 12.42% 8 1" Commercial 34 14,185 126.84 136.76 0.29 137.05 9.92 7.82% 9 1.5" Commercial 50 29,943 295.67 318.71 0.29 319.00 23.04 7.79% 10 2" Commercial 114 44,784 490.09 526.94 0.29 527.23 36.85 7.52% 11 3" Commercial 12 161,936 1,519.00 1,672.54 0.29 1,672.83 153.54 10.11% 12 4" Commercial 2 670,524 5,155.80 5,828.74 0.29 5,829.03 672.94 13.05% 13 6" Commercial 2 482,615 4,727.63 5,192.75 0.29 5,193.04 465.12 9.84% 14 Subtotal Commercial 230 15 16 5/8" Irrigation 8 13,421 75.02$85.10$0.29$85.39$10.08$13.44% 17 3/4" Irrigation 47 9,796 58.91 66.26 0.29 66.55 7.35 12.48% 18 1" Irrigation 60 25,892 188.38 208.49 0.29 208.78 20.11 10.67% 19 1.5" Irrigation 47 85,260 659.66 739.68 0.29 739.97 80.02 12.13% 20 2" Irrigation 112 130,198 1,052.11 1,176.94 0.29 1,177.23 124.82 11.86% 21 3" Irrigation 2 542,050 4,020.15 4,565.21 0.29 4,565.50 545.06 13.56% 22 4" Irrigation 2 332,976 2,934.73 3,260.00 0.29 3,260.29 325.27 11.08% 23 Subtotal Irrigation 279 24 25 3/4" Hydrant 0 80,707 500.69$577.99$0.29$578.28$77.31$15.44% 26 2" Hydrant 74 141,614 1,127.23 1,263.81 0.29 1,264.10 136.58$12.12% 27 3" Hydrant 2 49,142 776.81 814.18 0.29 814.47 37.37$4.81% 28 Subtotal Hydrant 77 29 30 Total 28,417

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-2 Test Year Ended December 31, 2024 Page 3 of 4 Comparison of Revenues at Median Consumption Line No. Class of Service Average No.of Customers Median Consumption Gallons Bill at Present Rates Bill at Proposed Rates $ Change Over Present Bill % Change 1 5/8 " Residential 1,632 4,500 34.52$36.96$2.44$7.06% 2 3/4" Residential 26,194 5,500 35.73 38.41 2.68 7.50% 3 1" Residential 5 9,000 104.49 110.59 6.10 5.84% 4 Subtotal Residential 27,831 5 6 5/8" Commercial 7 92,500 578.28$667.74$89.46$15.47% 7 3/4" Commercial 9 1,500 31.49 33.23 1.74 5.53% 8 1" Commercial 34 6,500 95.69 100.19 4.50 4.70% 9 1.5" Commercial 50 10,500 190.90 196.78 5.88 3.08% 10 2" Commercial 114 11,500 292.16 297.32 5.16 1.77% 11 3" Commercial 12 49,500 779.17 816.91 37.73 4.84% 12 4" Commercial 2 702,697 5,367.50 6,073.57 706.08 13.15% 13 6" Commercial 2 179,415 2,732.57 2,885.40 152.83 5.59% 14 Subtotal Commercial 230 15 16 5/8" Irrigation 8 - 30.36$31.76$1.40$4.61% 17 3/4" Irrigation 47 500 30.67 32.18 1.51 4.93% 18 1" Irrigation 60 7,500 99.21 104.35 5.14 5.18% 19 1.5" Irrigation 47 30,500 299.34 322.96 23.62 7.89% 20 2" Irrigation 112 30,500 396.10 418.24 22.14 5.59% 21 3" Irrigation 2 162,066 1,519.85 1,673.53 153.68 10.11% 22 4" Irrigation 2 19,500 878.00 881.05 3.04 0.35% 23 Subtotal Irrigation 279 24 25 3/4" Hydrant 0 26,500 144.00$165.48$21.48$14.91% 26 2" Hydrant 74 20,500 335.16 347.54 12.38 3.69% 27 3" Hydrant 2 29,000 644.28 660.90 16.62 2.58% 28 Subtotal Hydrant 77 29 30 Total 28,417

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-2 Test Year Ended December 31, 2024 Page 4 of 4 Comparison of Revenues at Median Consumption with Rate Case Expense Surcharge Line No. Class of Service Average No.of Customers Median Consumption Gallons Bill at Present Rates Final Bill at Proposed Rates RC Expense Surcharge Adjusted Bill at Proposed Rates $ Change Over Present Bill % Change 1 5/8 " Residential 1,632 4,500 34.52$36.96$0.29$37.25$2.73$7.90% 2 3/4" Residential 26,194 5,500 35.73 38.41 0.29 38.70 2.97 8.31% 3 1" Residential 5 9,000 104.49 110.59 0.29 110.88 6.39 6.12% 4 Subtotal Residential 27,831 5 6 5/8" Commercial 7 92,500 578.28$667.74$0.29$668.03$89.75$15.52% 7 3/4" Commercial 9 1,500 31.49 33.23 0.29 33.52 2.03 6.45% 8 1" Commercial 34 6,500 95.69 100.19 0.29 100.48 4.79 5.01% 9 1.5" Commercial 50 10,500 190.90 196.78 0.29 197.07 6.17 3.23% 10 2" Commercial 114 11,500 292.16 297.32 0.29 297.61 5.45 1.87% 11 3" Commercial 12 49,500 779.17 816.91 0.29 817.20 38.02 4.88% 12 4" Commercial 2 702,697 5,367.50 6,073.57 0.29 6,073.86 706.37 13.16% 13 6" Commercial 2 179,415 2,732.57 2,885.40 0.29 2,885.69 153.12 5.60% 14 Subtotal Commercial 230 15 16 5/8" Irrigation 8 - 30.36$31.76$0.29$32.05$1.69$5.57% 17 3/4" Irrigation 47 500 30.67 32.18 0.29 32.47 1.80 5.88% 18 1" Irrigation 60 7,500 99.21 104.35 0.29 104.64 5.43 5.47% 19 1.5" Irrigation 47 30,500 299.34 322.96 0.29 323.25 23.91 7.99% 20 2" Irrigation 112 30,500 396.10 418.24 0.29 418.53 22.43 5.66% 21 3" Irrigation 2 162,066 1,519.85 1,673.53 0.29 1,673.82 153.97 10.13% 22 4" Irrigation 2 19,500 878.00 881.05 0.29 881.34 3.33 0.38% 23 Subtotal Irrigation 279 24 25 3/4" Hydrant 0 26,500 144.00$165.48$0.29$165.77$21.77$15.11% 26 2" Hydrant 74 20,500 335.16 347.54 0.29 347.83 12.67 3.78% 27 3" Hydrant 2 29,000 644.28 660.90 0.29 661.19 16.91 2.62% 28 Subtotal Hydrant 77 29 30 Total 28,417

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-2 Test Year Ended December 31, 2024 Page 1 of 3 Changes in Representative Rate Schedules Monthly Minimum Charges: Line No. Meter Size (All Classes) Present Charge Proposed Rates $ Change over Present Charge % Change over Present Charge 1 2 5/8" X 3/4" Meter 30.36$31.76$1.40$4.61% 3 3/4" Meter 30.36 31.76 1.40 4.61% 4 1" Meter 78.74 79.40 0.66 0.84% 5 1.5" Meter 159.38 158.80 (0.58) -0.36% 6 2" Meter 256.14 254.08 (2.06) -0.80% 7 3" Meter 514.19 508.16 (6.03) -1.17% 8 4" Meter 804.48 794.00 (10.48) -1.30% 9 6" Meter 1,612.75 1,588.00 (24.75) -1.53% 10 8" Meter NA 2,540.80 NM NM Line No. Present Proposed Present Proposed Rates $ Change over Present charge % Change over Present charge 11 12 Tier One Breakover 1,000 Gallons 1,000 Gallons 1.55$2.11$0.56$36.13% 13 Tier Two Breakover 5,000 Gallons 5,000 Gallons 2.53 3.11 0.58 22.92% 14 Tier Three Breakover 10,000 Gallons 10,000 Gallons 3.52 4.16 0.64 18.18% 15 Tier Four Breakover 18,000 Gallons 18,000 Gallons 4.50 5.26 0.76 16.89% 16 Tier Five Breakover 25,000 Gallons 25,000 Gallons 5.50 6.41 0.91 16.55% 17 Tier Six Breakover Over 25,000 Over 25,000 6.58 7.61 1.03 15.65% Present Proposed Rates 18 Conservation Rebate Threshold ("CRT") in Gallons 6,000 6,000 19 Commodity rate rebate applied if consumption is be 60.00% 60.00% NM = Not Meaningful Basic Service Charge Potable Water - All Meter Sizes and Classes Rate Block Volumetric Charge

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Global Water - Santa Cruz Water Company, Inc. Schedule H-3 Test Year Ended December 31, 2024 Page 2 of 3 Changes in Representative Rate Schedules ` Line No. Rate Case Expense Surcharge 1 5/8" X 3/4" Meter 0.35$2 3/4" Meter 0.35 3 1" Meter 0.35 4 1.5" Meter 0.35 5 2" Meter 0.35 6 3" Meter 0.35 7 4" Meter 0.35 8 6" Meter 0.35 9 10 11 Miscellaneous Service Charges: Present Proposed Change % Change 12 Establishment of Service 35.00 35.00 - 0.00% 13 Re-establishment of Service (Within 12 Months) (a) (a) 14 Reconnection of Service (Delinquent) 35.00 35.00 - 0.00% 15 Meter Move at Customer Request (b) (b) 16 After Hours Service Charge (at Customer's Request) 50.00 50.00 - 0.00% 17 Deposit (c) (c) 18 Deposit Interest (c) (c) 19 Meter Re-Read (If Correct) 30.00 30.00 - 0.00% 20 Meter Test Fee (If Correct) 30.00 30.00 - 0.00% 21 NSF Check 30.00 30.00 - 0.00% 22 Late Payment Charge (Per Month) 1.5% & (d) 1.5% & (d) 23 Deferred Payment (Per Month) (e) (e) 24 Meter Installation Tampering At Cost At Cost (a) Number of Months off system times the monthly minimum per AAC R14-2-403(D). (b) Cost to include parts, labor, overhead and all applicable taxes per AAC R14-2-405(B)(5). (c) Per AAC R14-2-403(B). (d) Per month of unpaid balance. (e) 1.5% Per Commission Rule AAC R14-2-409(G)(6) In addition to the collection of its regular rates and charges, the Company shall collect from customers their proportionate share of any privilege, sales or use tax in accordance with A.A.C. R14-2-409(D)(5).

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-3 Test Year Ended December 31, 2024 Page 3 of 3 Changes in Representative Rate Schedules Service Line and Meter Installation Charges (Refundable Pursuant to AAC R14-2-405): Line No. Meter Size Service Line Charges Meter Charges Total Charges Service Line Charges Meter Charges Total Charges $ Change 1 5/8 x 3/4" 445.00 155.00 600.00 445.00 155.00 600.00 - 2 3/4" 445.00 255.00 700.00 445.00 255.00 700.00 - 3 1" 495.00 315.00 810.00 495.00 315.00 810.00 - 4 1 1/2" 550.00 525.00 1,075.00 550.00 525.00 1,075.00 - 5 2" Turbine 830.00 1,045.00 1,875.00 830.00 1,045.00 1,875.00 - 6 2" Compound 830.00 1,890.00 2,720.00 830.00 1,890.00 2,720.00 - 7 3" Turbine 1,045.00 1,670.00 2,715.00 1,045.00 1,670.00 2,715.00 - 8 3" Compound 1,165.00 2,545.00 3,710.00 1,165.00 2,545.00 3,710.00 - 9 4" Turbine 1,490.00 2,670.00 4,160.00 1,490.00 2,670.00 4,160.00 - 10 4" Compound 1,670.00 3,645.00 5,315.00 1,670.00 3,645.00 5,315.00 - 11 6" Turbine 2,210.00 5,025.00 7,235.00 2,210.00 5,025.00 7,235.00 - 12 6" Compound 2,330.00 6,920.00 9,250.00 2,330.00 6,920.00 9,250.00 - 13 8" (and larger) At Cost At Cost At Cost At Cost At Cost At Cost NM NM = Not Meaningful Present Proposed

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 1 Typical Bill Analysis Final Rates Rate Schedule: 5/8"X 3/4" Residential Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 30.36$31.76$1.40$4.61% 1,000 30.98 32.60 1.62 5.24% 2,000 31.99 33.85 1.86 5.80% 3,000 33.00 35.09 2.09 6.33% 4,000 34.02 36.34 2.32 6.82% 5,000 35.03 37.58 2.55 7.29% 6,000 45.55 50.47 4.92 10.80% 7,000 49.07 54.63 5.56 11.33% 8,000 52.59 58.79 6.20 11.79% 9,000 56.11 62.95 6.84 12.19% 10,000 59.63 67.11 7.48 12.54% 15,000 82.13 93.41 11.28 13.73% 20,000 106.63 122.01 15.38 14.42% 25,000 134.13 154.06 19.93 14.86% 50,000 298.63 344.31 45.68 15.30% 75,000 463.13 534.56 71.43 15.42% 100,000 627.63 724.81 97.18 15.48% 125,000 792.13 915.06 122.93 15.52% 150,000 956.63 1,105.31 148.68 15.54% 175,000 1,121.13 1,295.56 174.43 15.56% 200,000 1,285.63 1,485.81 200.18 15.57% Average Consumption 5,785 36.13$38.89$2.75$7.62% Median Consumption 4,500 34.52$36.96$2.44$7.06%

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![](a20260428_gw-scxgwxpvnof065.jpg)

Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 2 Typical Bill Analysis Final Rates Rate Schedule: 3/4" Residential Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 30.36$31.76$1.40$4.61% 1,000 30.98 32.60 1.62 5.24% 2,000 31.99 33.85 1.86 5.80% 3,000 33.00 35.09 2.09 6.33% 4,000 34.02 36.34 2.32 6.82% 5,000 35.03 37.58 2.55 7.29% 6,000 45.55 50.47 4.92 10.80% 7,000 49.07 54.63 5.56 11.33% 8,000 52.59 58.79 6.20 11.79% 9,000 56.11 62.95 6.84 12.19% 10,000 59.63 67.11 7.48 12.54% 15,000 82.13 93.41 11.28 13.73% 20,000 106.63 122.01 15.38 14.42% 25,000 134.13 154.06 19.93 14.86% 50,000 298.63 344.31 45.68 15.30% 75,000 463.13 534.56 71.43 15.42% 100,000 627.63 724.81 97.18 15.48% 125,000 792.13 915.06 122.93 15.52% 150,000 956.63 1,105.31 148.68 15.54% 175,000 1,121.13 1,295.56 174.43 15.56% 200,000 1,285.63 1,485.81 200.18 15.57% Average Consumption 6,599 47.66$52.96$5.30$11.13% Median Consumption 5,500 35.73$38.41$2.68$7.50%

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![](a20260428_gw-scxgwxpvnof066.jpg)

Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 3 Typical Bill Analysis Final Rates Rate Schedule: 1" Residential Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 78.74$79.40$0.66$0.84% 1,000 79.36 80.24 0.88 1.11% 2,000 80.37 81.49 1.12 1.39% 3,000 81.38 82.73 1.35 1.66% 4,000 82.40 83.98 1.58 1.92% 5,000 83.41 85.22 1.81 2.17% 6,000 93.93 98.11 4.18 4.45% 7,000 97.45 102.27 4.82 4.95% 8,000 100.97 106.43 5.46 5.41% 9,000 104.49 110.59 6.10 5.84% 10,000 108.01 114.75 6.74 6.24% 15,000 130.51 141.05 10.54 8.08% 20,000 155.01 169.65 14.64 9.44% 25,000 182.51 201.70 19.19 10.51% 50,000 347.01 391.95 44.94 12.95% 75,000 511.51 582.20 70.69 13.82% 100,000 676.01 772.45 96.44 14.27% 125,000 840.51 962.70 122.19 14.54% 150,000 1,005.01 1,152.95 147.94 14.72% 175,000 1,169.51 1,343.20 173.69 14.85% 200,000 1,334.01 1,533.45 199.44 14.95% Average Consumption 13,783 121.33$134.65$13.32$10.98% Median Consumption 9,000 104.49$110.59$6.10$5.84%

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![](a20260428_gw-scxgwxpvnof067.jpg)

Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 4 Typical Bill Analysis Final Rates Rate Schedule: 5/8"X 3/4" Commercial Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 30.36$31.76$1.40$4.61% 1,000 30.98 32.60 1.62 5.24% 2,000 31.99 33.85 1.86 5.80% 3,000 33.00 35.09 2.09 6.33% 4,000 34.02 36.34 2.32 6.82% 5,000 35.03 37.58 2.55 7.29% 6,000 45.55 50.47 4.92 10.80% 7,000 49.07 54.63 5.56 11.33% 8,000 52.59 58.79 6.20 11.79% 9,000 56.11 62.95 6.84 12.19% 10,000 59.63 67.11 7.48 12.54% 15,000 82.13 93.41 11.28 13.73% 20,000 106.63 122.01 15.38 14.42% 25,000 134.13 154.06 19.93 14.86% 50,000 298.63 344.31 45.68 15.30% 75,000 463.13 534.56 71.43 15.42% 100,000 627.63 724.81 97.18 15.48% 125,000 792.13 915.06 122.93 15.52% 150,000 956.63 1,105.31 148.68 15.54% 175,000 1,121.13 1,295.56 174.43 15.56% 200,000 1,285.63 1,485.81 200.18 15.57% Average Consumption 110,786 698.60$806.89$108.29$15.50% Median Consumption 92,500 578.28$667.74$89.46$15.47%

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![](a20260428_gw-scxgwxpvnof068.jpg)

Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 5 Typical Bill Analysis Final Rates Rate Schedule: 3/4" Commercial Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 30.36$31.76$1.40$4.61% 1,000 30.98 32.60 1.62 5.24% 2,000 31.99 33.85 1.86 5.80% 3,000 33.00 35.09 2.09 6.33% 4,000 34.02 36.34 2.32 6.82% 5,000 35.03 37.58 2.55 7.29% 6,000 45.55 50.47 4.92 10.80% 7,000 49.07 54.63 5.56 11.33% 8,000 52.59 58.79 6.20 11.79% 9,000 56.11 62.95 6.84 12.19% 10,000 59.63 67.11 7.48 12.54% 15,000 82.13 93.41 11.28 13.73% 20,000 106.63 122.01 15.38 14.42% 25,000 134.13 154.06 19.93 14.86% 50,000 298.63 344.31 45.68 15.30% 75,000 463.13 534.56 71.43 15.42% 100,000 627.63 724.81 97.18 15.48% 125,000 792.13 915.06 122.93 15.52% 150,000 956.63 1,105.31 148.68 15.54% 175,000 1,121.13 1,295.56 174.43 15.56% 200,000 1,285.63 1,485.81 200.18 15.57% Average Consumption 9,632 58.33$65.58$7.24$12.42% Median Consumption 1,500 31.49$33.23$1.74$5.53%

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![](a20260428_gw-scxgwxpvnof069.jpg)

Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 6 Typical Bill Analysis Final Rates Rate Schedule: 1" Commercial Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 78.74$79.40$0.66$0.84% 1,000 79.36 80.24 0.88 1.11% 2,000 80.37 81.49 1.12 1.39% 3,000 81.38 82.73 1.35 1.66% 4,000 82.40 83.98 1.58 1.92% 5,000 83.41 85.22 1.81 2.17% 6,000 93.93 98.11 4.18 4.45% 7,000 97.45 102.27 4.82 4.95% 8,000 100.97 106.43 5.46 5.41% 9,000 104.49 110.59 6.10 5.84% 10,000 108.01 114.75 6.74 6.24% 15,000 130.51 141.05 10.54 8.08% 20,000 155.01 169.65 14.64 9.44% 25,000 182.51 201.70 19.19 10.51% 50,000 347.01 391.95 44.94 12.95% 75,000 511.51 582.20 70.69 13.82% 100,000 676.01 772.45 96.44 14.27% 125,000 840.51 962.70 122.19 14.54% 150,000 1,005.01 1,152.95 147.94 14.72% 175,000 1,169.51 1,343.20 173.69 14.85% 200,000 1,334.01 1,533.45 199.44 14.95% Average Consumption 14,185 126.84$136.76$9.92$7.82% Median Consumption 6,500 95.69$100.19$4.50$4.70%

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![](a20260428_gw-scxgwxpvnof070.jpg)

Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 7 Typical Bill Analysis Final Rates Rate Schedule: 1 1/2" Commercial Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 159.38$158.80$(0.58)$-0.36% 1,000 160.00 159.64 (0.36) -0.22% 2,000 161.01 160.89 (0.12) -0.08% 3,000 162.02 162.13 0.11 0.07% 4,000 163.04 163.38 0.34 0.21% 5,000 164.05 164.62 0.57 0.35% 6,000 174.57 177.51 2.94 1.68% 7,000 178.09 181.67 3.58 2.01% 8,000 181.61 185.83 4.22 2.32% 9,000 185.13 189.99 4.86 2.63% 10,000 188.65 194.15 5.50 2.92% 15,000 211.15 220.45 9.30 4.40% 20,000 235.65 249.05 13.40 5.69% 25,000 263.15 281.10 17.95 6.82% 50,000 427.65 471.35 43.70 10.22% 75,000 592.15 661.60 69.45 11.73% 100,000 756.65 851.85 95.20 12.58% 125,000 921.15 1,042.10 120.95 13.13% 150,000 1,085.65 1,232.35 146.70 13.51% 175,000 1,250.15 1,422.60 172.45 13.79% 200,000 1,414.65 1,612.85 198.20 14.01% Average Consumption 29,943 295.67$318.71$23.04$7.79% Median Consumption 10,500 190.90$196.78$5.88$3.08%

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![](a20260428_gw-scxgwxpvnof071.jpg)

Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 8 Typical Bill Analysis Final Rates Rate Schedule: 2" Commercial Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 256.14$254.08$(2.06)$-0.80% 1,000 256.76 254.92 (1.84) -0.72% 2,000 257.77 256.17 (1.60) -0.62% 3,000 258.78 257.41 (1.37) -0.53% 4,000 259.80 258.66 (1.14) -0.44% 5,000 260.81 259.90 (0.91) -0.35% 6,000 271.33 272.79 1.46 0.54% 7,000 274.85 276.95 2.10 0.76% 8,000 278.37 281.11 2.74 0.98% 9,000 281.89 285.27 3.38 1.20% 10,000 285.41 289.43 4.02 1.41% 15,000 307.91 315.73 7.82 2.54% 20,000 332.41 344.33 11.92 3.59% 25,000 359.91 376.38 16.47 4.58% 50,000 524.41 566.63 42.22 8.05% 75,000 688.91 756.88 67.97 9.87% 100,000 853.41 947.13 93.72 10.98% 125,000 1,017.91 1,137.38 119.47 11.74% 150,000 1,182.41 1,327.63 145.22 12.28% 175,000 1,346.91 1,517.88 170.97 12.69% 200,000 1,511.41 1,708.13 196.72 13.02% Average Consumption 44,784 490.09$526.94$36.85$7.52% Median Consumption 11,500 292.16$297.32$5.16$1.77%

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![](a20260428_gw-scxgwxpvnof072.jpg)

Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 9 Typical Bill Analysis Final Rates Rate Schedule: 3" Commercial Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 514.19$508.16$(6.03)$-1.17% 1,000 514.81 509.00 (5.81) -1.13% 2,000 515.82 510.25 (5.57) -1.08% 3,000 516.83 511.49 (5.34) -1.03% 4,000 517.85 512.74 (5.11) -0.99% 5,000 518.86 513.98 (4.88) -0.94% 6,000 529.38 526.87 (2.51) -0.47% 7,000 532.90 531.03 (1.87) -0.35% 8,000 536.42 535.19 (1.23) -0.23% 9,000 539.94 539.35 (0.59) -0.11% 10,000 543.46 543.51 0.05 0.01% 15,000 565.96 569.81 3.85 0.68% 20,000 590.46 598.41 7.95 1.35% 25,000 617.96 630.46 12.50 2.02% 50,000 782.46 820.71 38.25 4.89% 75,000 946.96 1,010.96 64.00 6.76% 100,000 1,111.46 1,201.21 89.75 8.07% 125,000 1,275.96 1,391.46 115.50 9.05% 150,000 1,440.46 1,581.71 141.25 9.81% 175,000 1,604.96 1,771.96 167.00 10.41% 200,000 1,769.46 1,962.21 192.75 10.89% Average Consumption 161,936 1,519.00$1,672.54$153.54$10.11% Median Consumption 49,500 779.17$816.91$37.73$4.84%

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![](a20260428_gw-scxgwxpvnof073.jpg)

Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 10 Typical Bill Analysis Final Rates Rate Schedule: 4" Commercial Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 804.48$794.00$(10.48)$-1.30% 1,000 805.10 794.84 (10.26) -1.27% 2,000 806.11 796.09 (10.02) -1.24% 3,000 807.12 797.33 (9.79) -1.21% 4,000 808.14 798.58 (9.56) -1.18% 5,000 809.15 799.82 (9.33) -1.15% 6,000 819.67 812.71 (6.96) -0.85% 7,000 823.19 816.87 (6.32) -0.77% 8,000 826.71 821.03 (5.68) -0.69% 9,000 830.23 825.19 (5.04) -0.61% 10,000 833.75 829.35 (4.40) -0.53% 15,000 856.25 855.65 (0.60) -0.07% 20,000 880.75 884.25 3.50 0.40% 25,000 908.25 916.30 8.05 0.89% 50,000 1,072.75 1,106.55 33.80 3.15% 75,000 1,237.25 1,296.80 59.55 4.81% 100,000 1,401.75 1,487.05 85.30 6.09% 125,000 1,566.25 1,677.30 111.05 7.09% 150,000 1,730.75 1,867.55 136.80 7.90% 175,000 1,895.25 2,057.80 162.55 8.58% 200,000 2,059.75 2,248.05 188.30 9.14% Average Consumption 670,524 5,155.80$5,828.74$672.94$13.05% Median Consumption 702,697 5,367.50$6,073.57$706.08$13.15%

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![](a20260428_gw-scxgwxpvnof074.jpg)

Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 11 Typical Bill Analysis Final Rates Rate Schedule: 6" Commercial Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 1,612.75$1,588.00$(24.75)$-1.53% 1,000 1,613.37 1,588.84 (24.53) -1.52% 2,000 1,614.38 1,590.09 (24.29) -1.50% 3,000 1,615.39 1,591.33 (24.06) -1.49% 4,000 1,616.41 1,592.58 (23.83) -1.47% 5,000 1,617.42 1,593.82 (23.60) -1.46% 6,000 1,627.94 1,606.71 (21.23) -1.30% 7,000 1,631.46 1,610.87 (20.59) -1.26% 8,000 1,634.98 1,615.03 (19.95) -1.22% 9,000 1,638.50 1,619.19 (19.31) -1.18% 10,000 1,642.02 1,623.35 (18.67) -1.14% 15,000 1,664.52 1,649.65 (14.87) -0.89% 20,000 1,689.02 1,678.25 (10.77) -0.64% 25,000 1,716.52 1,710.30 (6.22) -0.36% 50,000 1,881.02 1,900.55 19.53 1.04% 75,000 2,045.52 2,090.80 45.28 2.21% 100,000 2,210.02 2,281.05 71.03 3.21% 125,000 2,374.52 2,471.30 96.78 4.08% 150,000 2,539.02 2,661.55 122.53 4.83% 175,000 2,703.52 2,851.80 148.28 5.48% 200,000 2,868.02 3,042.05 174.03 6.07% Average Consumption 482,615 4,727.63$5,192.75$465.12$9.84% Median Consumption 179,415 2,732.57$2,885.40$152.83$5.59%

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![](a20260428_gw-scxgwxpvnof075.jpg)

Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 12 Typical Bill Analysis Final Rates Rate Schedule: 5/8" Irrigation Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 30.36$31.76$1.40$4.61% 1,000 30.98 32.60 1.62 5.24% 2,000 31.99 33.85 1.86 5.80% 3,000 33.00 35.09 2.09 6.33% 4,000 34.02 36.34 2.32 6.82% 5,000 35.03 37.58 2.55 7.29% 6,000 45.55 50.47 4.92 10.80% 7,000 49.07 54.63 5.56 11.33% 8,000 52.59 58.79 6.20 11.79% 9,000 56.11 62.95 6.84 12.19% 10,000 59.63 67.11 7.48 12.54% 15,000 82.13 93.41 11.28 13.73% 20,000 106.63 122.01 15.38 14.42% 25,000 134.13 154.06 19.93 14.86% 50,000 298.63 344.31 45.68 15.30% 75,000 463.13 534.56 71.43 15.42% 100,000 627.63 724.81 97.18 15.48% 125,000 792.13 915.06 122.93 15.52% 150,000 956.63 1,105.31 148.68 15.54% 175,000 1,121.13 1,295.56 174.43 15.56% 200,000 1,285.63 1,485.81 200.18 15.57% Average Consumption 13,421 75.02$85.10$10.08$13.44% Median Consumption - 30.36$31.76$1.40$4.61%

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![](a20260428_gw-scxgwxpvnof076.jpg)

Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 13 Typical Bill Analysis Final Rates Rate Schedule: 3/4" Irrigation Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 30.36$31.76$1.40$4.61% 1,000 30.98 32.60 1.62 5.24% 2,000 31.99 33.85 1.86 5.80% 3,000 33.00 35.09 2.09 6.33% 4,000 34.02 36.34 2.32 6.82% 5,000 35.03 37.58 2.55 7.29% 6,000 45.55 50.47 4.92 10.80% 7,000 49.07 54.63 5.56 11.33% 8,000 52.59 58.79 6.20 11.79% 9,000 56.11 62.95 6.84 12.19% 10,000 59.63 67.11 7.48 12.54% 15,000 82.13 93.41 11.28 13.73% 20,000 106.63 122.01 15.38 14.42% 25,000 134.13 154.06 19.93 14.86% 50,000 298.63 344.31 45.68 15.30% 75,000 463.13 534.56 71.43 15.42% 100,000 627.63 724.81 97.18 15.48% 125,000 792.13 915.06 122.93 15.52% 150,000 956.63 1,105.31 148.68 15.54% 175,000 1,121.13 1,295.56 174.43 15.56% 200,000 1,285.63 1,485.81 200.18 15.57% Average Consumption 9,796 58.91$66.26$7.35$12.48% Median Consumption 500 30.67$32.18$1.51$4.93%

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![](a20260428_gw-scxgwxpvnof077.jpg)

Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 14 Typical Bill Analysis Final Rates Rate Schedule: 1" Irrigation Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 78.74$79.40$0.66$0.84% 1,000 79.36 80.24 0.88 1.11% 2,000 80.37 81.49 1.12 1.39% 3,000 81.38 82.73 1.35 1.66% 4,000 82.40 83.98 1.58 1.92% 5,000 83.41 85.22 1.81 2.17% 6,000 93.93 98.11 4.18 4.45% 7,000 97.45 102.27 4.82 4.95% 8,000 100.97 106.43 5.46 5.41% 9,000 104.49 110.59 6.10 5.84% 10,000 108.01 114.75 6.74 6.24% 15,000 130.51 141.05 10.54 8.08% 20,000 155.01 169.65 14.64 9.44% 25,000 182.51 201.70 19.19 10.51% 50,000 347.01 391.95 44.94 12.95% 75,000 511.51 582.20 70.69 13.82% 100,000 676.01 772.45 96.44 14.27% 125,000 840.51 962.70 122.19 14.54% 150,000 1,005.01 1,152.95 147.94 14.72% 175,000 1,169.51 1,343.20 173.69 14.85% 200,000 1,334.01 1,533.45 199.44 14.95% Average Consumption 25,892 188.38$208.49$20.11$10.67% Median Consumption 7,500 99.21$104.35$5.14$5.18%

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![](a20260428_gw-scxgwxpvnof078.jpg)

Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 15 Typical Bill Analysis Final Rates Rate Schedule: 1 1/2" Irrigation Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 159.38$158.80$(0.58)$-0.36% 1,000 160.00 159.64 (0.36) -0.22% 2,000 161.01 160.89 (0.12) -0.08% 3,000 162.02 162.13 0.11 0.07% 4,000 163.04 163.38 0.34 0.21% 5,000 164.05 164.62 0.57 0.35% 6,000 174.57 177.51 2.94 1.68% 7,000 178.09 181.67 3.58 2.01% 8,000 181.61 185.83 4.22 2.32% 9,000 185.13 189.99 4.86 2.63% 10,000 188.65 194.15 5.50 2.92% 15,000 211.15 220.45 9.30 4.40% 20,000 235.65 249.05 13.40 5.69% 25,000 263.15 281.10 17.95 6.82% 50,000 427.65 471.35 43.70 10.22% 75,000 592.15 661.60 69.45 11.73% 100,000 756.65 851.85 95.20 12.58% 125,000 921.15 1,042.10 120.95 13.13% 150,000 1,085.65 1,232.35 146.70 13.51% 175,000 1,250.15 1,422.60 172.45 13.79% 200,000 1,414.65 1,612.85 198.20 14.01% Average Consumption 85,260 659.66$739.68$80.02$12.13% Median Consumption 30,500 299.34$322.96$23.62$7.89%

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 16 Typical Bill Analysis Final Rates Rate Schedule: 2" Irrigation Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 256.14$254.08$(2.06)$-0.80% 1,000 256.76 254.92 (1.84) -0.72% 2,000 257.77 256.17 (1.60) -0.62% 3,000 258.78 257.41 (1.37) -0.53% 4,000 259.80 258.66 (1.14) -0.44% 5,000 260.81 259.90 (0.91) -0.35% 6,000 271.33 272.79 1.46 0.54% 7,000 274.85 276.95 2.10 0.76% 8,000 278.37 281.11 2.74 0.98% 9,000 281.89 285.27 3.38 1.20% 10,000 285.41 289.43 4.02 1.41% 15,000 307.91 315.73 7.82 2.54% 20,000 332.41 344.33 11.92 3.59% 25,000 359.91 376.38 16.47 4.58% 50,000 524.41 566.63 42.22 8.05% 75,000 688.91 756.88 67.97 9.87% 100,000 853.41 947.13 93.72 10.98% 125,000 1,017.91 1,137.38 119.47 11.74% 150,000 1,182.41 1,327.63 145.22 12.28% 175,000 1,346.91 1,517.88 170.97 12.69% 200,000 1,511.41 1,708.13 196.72 13.02% Average Consumption 130,198 1,052.11$1,176.94$124.82$11.86% Median Consumption 30,500 396.10$418.24$22.14$5.59%

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 17 Typical Bill Analysis Final Rates Rate Schedule: 3" Irrigation Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 514.19$508.16$(6.03)$-1.17% 1,000 514.81 509.00 (5.81) -1.13% 2,000 515.82 510.25 (5.57) -1.08% 3,000 516.83 511.49 (5.34) -1.03% 4,000 517.85 512.74 (5.11) -0.99% 5,000 518.86 513.98 (4.88) -0.94% 6,000 529.38 526.87 (2.51) -0.47% 7,000 532.90 531.03 (1.87) -0.35% 8,000 536.42 535.19 (1.23) -0.23% 9,000 539.94 539.35 (0.59) -0.11% 10,000 543.46 543.51 0.05 0.01% 15,000 565.96 569.81 3.85 0.68% 20,000 590.46 598.41 7.95 1.35% 25,000 617.96 630.46 12.50 2.02% 50,000 782.46 820.71 38.25 4.89% 75,000 946.96 1,010.96 64.00 6.76% 100,000 1,111.46 1,201.21 89.75 8.07% 125,000 1,275.96 1,391.46 115.50 9.05% 150,000 1,440.46 1,581.71 141.25 9.81% 175,000 1,604.96 1,771.96 167.00 10.41% 200,000 1,769.46 1,962.21 192.75 10.89% Average Consumption 542,050 4,020.15$4,565.21$545.06$13.56% Median Consumption 162,066 1,519.85$1,673.53$153.68$10.11%

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 18 Typical Bill Analysis Final Rates Rate Schedule: 4" Irrigation Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 804.48$794.00$(10.48)$-1.30% 1,000 805.10 794.84 (10.26) -1.27% 2,000 806.11 796.09 (10.02) -1.24% 3,000 807.12 797.33 (9.79) -1.21% 4,000 808.14 798.58 (9.56) -1.18% 5,000 809.15 799.82 (9.33) -1.15% 6,000 819.67 812.71 (6.96) -0.85% 7,000 823.19 816.87 (6.32) -0.77% 8,000 826.71 821.03 (5.68) -0.69% 9,000 830.23 825.19 (5.04) -0.61% 10,000 833.75 829.35 (4.40) -0.53% 15,000 856.25 855.65 (0.60) -0.07% 20,000 880.75 884.25 3.50 0.40% 25,000 908.25 916.30 8.05 0.89% 50,000 1,072.75 1,106.55 33.80 3.15% 75,000 1,237.25 1,296.80 59.55 4.81% 100,000 1,401.75 1,487.05 85.30 6.09% 125,000 1,566.25 1,677.30 111.05 7.09% 150,000 1,730.75 1,867.55 136.80 7.90% 175,000 1,895.25 2,057.80 162.55 8.58% 200,000 2,059.75 2,248.05 188.30 9.14% Average Consumption 332,976 2,934.73$3,260.00$325.27$11.08% Median Consumption 19,500 878.00$881.05$3.04$0.35%

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 19 Typical Bill Analysis Final Rates Rate Schedule: 4-Mar Hydrant Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 30.36$31.76$1.40$4.61% 1,000 30.98 32.60 1.62 5.24% 2,000 31.99 33.85 1.86 5.80% 3,000 33.00 35.09 2.09 6.33% 4,000 34.02 36.34 2.32 6.82% 5,000 35.03 37.58 2.55 7.29% 6,000 45.55 50.47 4.92 10.80% 7,000 49.07 54.63 5.56 11.33% 8,000 52.59 58.79 6.20 11.79% 9,000 56.11 62.95 6.84 12.19% 10,000 59.63 67.11 7.48 12.54% 15,000 82.13 93.41 11.28 13.73% 20,000 106.63 122.01 15.38 14.42% 25,000 134.13 154.06 19.93 14.86% 50,000 298.63 344.31 45.68 15.30% 75,000 463.13 534.56 71.43 15.42% 100,000 627.63 724.81 97.18 15.48% 125,000 792.13 915.06 122.93 15.52% 150,000 956.63 1,105.31 148.68 15.54% 175,000 1,121.13 1,295.56 174.43 15.56% 200,000 1,285.63 1,485.81 200.18 15.57% Average Consumption 80,707 500.69$577.99$77.31$15.44% Median Consumption 26,500 144.00$165.48$21.48$14.91%

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 20 Typical Bill Analysis Final Rates Rate Schedule: 2" Hydrant Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 256.14$254.08$(2.06)$-0.80% 1,000 256.76 254.92 (1.84) -0.72% 2,000 257.77 256.17 (1.60) -0.62% 3,000 258.78 257.41 (1.37) -0.53% 4,000 259.80 258.66 (1.14) -0.44% 5,000 260.81 259.90 (0.91) -0.35% 6,000 271.33 272.79 1.46 0.54% 7,000 274.85 276.95 2.10 0.76% 8,000 278.37 281.11 2.74 0.98% 9,000 281.89 285.27 3.38 1.20% 10,000 285.41 289.43 4.02 1.41% 15,000 307.91 315.73 7.82 2.54% 20,000 332.41 344.33 11.92 3.59% 25,000 359.91 376.38 16.47 4.58% 50,000 524.41 566.63 42.22 8.05% 75,000 688.91 756.88 67.97 9.87% 100,000 853.41 947.13 93.72 10.98% 125,000 1,017.91 1,137.38 119.47 11.74% 150,000 1,182.41 1,327.63 145.22 12.28% 175,000 1,346.91 1,517.88 170.97 12.69% 200,000 1,511.41 1,708.13 196.72 13.02% Average Consumption 141,614 1,127.23$1,263.81$136.58$12.12% Median Consumption 20,500 335.16$347.54$12.38$3.69%

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 21 Typical Bill Analysis Final Rates Rate Schedule: 3" Hydrant Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - 514.19$508.16$(6.03)$-1.17% 1,000 514.81 509.00 (5.81) -1.13% 2,000 515.82 510.25 (5.57) -1.08% 3,000 516.83 511.49 (5.34) -1.03% 4,000 517.85 512.74 (5.11) -0.99% 5,000 518.86 513.98 (4.88) -0.94% 6,000 529.38 526.87 (2.51) -0.47% 7,000 532.90 531.03 (1.87) -0.35% 8,000 536.42 535.19 (1.23) -0.23% 9,000 539.94 539.35 (0.59) -0.11% 10,000 543.46 543.51 0.05 0.01% 15,000 565.96 569.81 3.85 0.68% 20,000 590.46 598.41 7.95 1.35% 25,000 617.96 630.46 12.50 2.02% 50,000 782.46 820.71 38.25 4.89% 75,000 946.96 1,010.96 64.00 6.76% 100,000 1,111.46 1,201.21 89.75 8.07% 125,000 1,275.96 1,391.46 115.50 9.05% 150,000 1,440.46 1,581.71 141.25 9.81% 175,000 1,604.96 1,771.96 167.00 10.41% 200,000 1,769.46 1,962.21 192.75 10.89% Average Consumption 49,142 776.81$814.18$37.37$4.81% Median Consumption 29,000 644.28$660.90$16.62$2.58%

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule H-4 Test Year Ended December 31, 2024 Page 22 Typical Bill Analysis Final Rates Rate Schedule: Raw Water Present Proposed Monthly Bill Bill Dollar Percent Consumption Increase Increase - -$-$-$0.00% 1,000 1.75 1.90 0.15 8.57% 2,000 3.50 3.80 0.30 8.57% 3,000 5.25 5.70 0.45 8.57% 4,000 7.00 7.60 0.60 8.57% 5,000 8.75 9.50 0.75 8.57% 6,000 10.50 11.40 0.90 8.57% 7,000 12.25 13.30 1.05 8.57% 8,000 14.00 15.20 1.20 8.57% 9,000 15.75 17.10 1.35 8.57% 10,000 17.50 19.00 1.50 8.57% 15,000 26.25 28.50 2.25 8.57% 20,000 35.00 38.00 3.00 8.57% 25,000 43.75 47.50 3.75 8.57% 50,000 87.50 95.00 7.50 8.57% 75,000 131.25 142.50 11.25 8.57% 100,000 175.00 190.00 15.00 8.57% 125,000 218.75 237.50 18.75 8.57% 150,000 262.50 285.00 22.50 8.57% 175,000 306.25 332.50 26.25 8.57% 200,000 350.00 380.00 30.00 8.57% Average Consumption 4,988,416 8,729.73$9,477.99$748.26$8.57% Median Consumption 1,042,700 1,824.73$1,981.13$156.41$8.57%

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EXHIBIT 2 AFUDC – Illustrative Example

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Global Water - Santa Cruz Water Company, Inc. Test Year Ended December 31, 2024 Exhibit 2 - AFUDC [A] [B] [C] [D] [E] [F] Month Cap Labor Payables Accumulated Project Cost1 AFUDC Debt %2 AFUDC Equity % AFUDC Sep-25 5,000$25,000$30,000$0.18% 0.44% 187$ Oct-25 7,500$15,000$52,500$0.18% 0.44% 328$ Nov-25 7,500$20,000$80,000$0.18% 0.44% 500$ Dec-25 10,000$25,000$115,000$0.18% 0.44% 718$115,000$ Total AFUDC 1,733$ Total Capitalized Cost 116,733$1 Accumulated CWIP project balance equals prior month ending balance + current month additions 2 AFUDC Rate Calculation: AFUDC Debt Rate Annual Rate Monthly Rate Debt % 45.00% Cost of Debt 4.92% AFUDC Debt Rate 2.21% 0.18% AFUDC Equity Rate Annual Rate Monthly Rate Equity % 55.00% ROE 9.60% AFUDC Equity Rate 5.28% 0.44% Combined AFUDC Rate (WACC) 7.49% 0.62% [A]+[B] = [C] [C]\*([D]+[E]) = [F]

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EXHIBIT 3 Depreciation Rates

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Global Water - Santa Cruz Water Company, Inc. Settlement Schedule C-2 Test Year Ended December 31, 2024 Exhibit 3 - Depreciation Rates Line No. NARUC Description Rate 1 301 Organization 0.00% 2 302 Franchises 0.00% 3 303 Land and Land Rights 0.00% 4 304 Structures and Improvements 3.33% 5 305 Collecting & Improving Reservoirs 2.50% 6 306 Lake, River, Canal Intakes 2.50% 7 307 Wells and Springs 3.33% 8 308 Infiltration Galleries 6.67% 9 309 Supply Mains 2.00% 10 310 Power Generation Equipment 5.00% 11 311 Pumping Equipment 12.50% 12 320 Water Treatment Equipment 3.33% 13 320.1 Water Treatment Plants 3.33% 14 320.2 Solution Chemical Feeders 20.00% 15 320.3 Point-of-Use Treatment Devices 10.00% 16 330 Distribution Reservoirs and Standpipes 2.22% 17 330.1 Storage Tanks 2.22% 18 330.2 Pressure Tanks 5.00% 19 331 Transmission and Distribution Mains 2.00% 20 333 Services 3.33% 21 334 Meters and Meter Installations 8.33% 22 335 Hydrants 2.00% 23 336 Backflow Prevention Devices 6.67% 24 339 Other Plant and Misc. Equipment 6.67% 25 340 Office Furniture and Equipment 6.67% 26 340.1 Computer & Software 20.00% 27 341 Transportation Equipment 20.00% 28 341.1 Transportation Equipment - Leased Vehicles 25.00% 29 342 Stores Equipment 4.00% 30 343 Tools, Shop and Garage Equipment 5.00% 31 344 Laboratory Equipment 10.00% 32 345 Power Operated Equipment 5.00% 33 346 Communication Equipment 10.00% 34 347 Miscellaneous Equipment 10.00% 35 348 Other Tangible Plant 10.00%

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EXHIBIT 4 GW-Santa Cruz Rate Tariff

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Water – Santa Cruz Water Company, Inc. Effective Date: Decision No: Docket No: W-20446A-25-0022 GLOBAL WATER – SANTA CRUZ WATER COMPANY, INC. ("GW- Santa Cruz") DOCKET NO. W-20446A-25-0022 TARIFF RATE SCHEDULE MONTHLY SERVICE CHARGE NON-POTABLE WATER Meter Size Effective 11/1/2026 5/8 x 3/4 Inch Meter $31.76 3/4 Inch Meter 31.76 1 Inch Meter 79.40 1-1/2 Inch Meter 158.80 2 Inch Meter 254.08 3 Inch Meter 508.16 4 Inch Meter 794.00 6 Inch Meter 1,588.00 8 Inch Meter 2,540.80 Non-Potable Water, per 1,000 gallons $1.90

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COMMODITY CHARGE (PER 1,000 GALLONS) ALL METER SIZES AND CLASSES Potable Water Effective 11/01/2026 0 to 1,000 Gallons $2.11 1,001 to 5,000 Gallons 3.11 5,001 to 10,000 Gallons 4.16 10,001 to 18,000 Gallons 5.26 18,001 to 25,000 Gallons 6.41 Over 25,000 Gallons 7.61 CONSERVATION REBATE Threshold ("CRT") in Gallons 6,000 CRT (Discount %) 60.00% (applied if consumption is below the CRT) SERVICE CHARGES Establishment of Service 35.00 Re-establishment of Service (Within 12 Months) (a) Reconnection of Service (Delinquent) 35.00 Meter Move at Customer Request (b) After Hours Service Charge (at Customer's Request) 50.00 Deposit (c) Deposit Interest (c) Meter Re-Read (If Correct) 30.00 Meter Test Fee (If Correct) 30.00 NSF Check 30.00 Late Payment Charge (Per Month) 1.5% & (d) Deferred Payment (Per Month) (e)

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(a) Number of months off system times the monthly minimum per A.A.C. R14-2-403(D). (b) Cost to include parts, labor, overhead and all applicable taxes per A.A.C. R14-2-405(B)(5). (c) Per A.A.C. R14-2-403(B). (d) 1.50% per month of unpaid balance. (e) 1.50% per A.A.C. R14-2-409(G)(6) In addition to the collection of its regular rates and charges, the Company shall collect from customers their proportionate share of any privilege, sales or use tax in accordance with AAC R14- 2-409(D)(5). SERVICE LINE AND METER INSTALLATION CHARGES (Refundable Pursuant to AAC R14-2-405) Meter Size Service Line\* Meter Total 5/8 x 3/4 Inch Meter $445 $155 $600 3/4 Inch Meter $445 $255 $700 1 Inch Meter $495 $315 $810 1-1/2 Inch Meter $550 $525 $1,075 2 Inch Turbine Meter $830 $1,045 $1,875 2 Inch Compound Meter $830 $1,890 $2,720 3 Inch Turbine Meter $1,045 $1,670 $2,715 3 Inch Compound Meter $1,165 $2,545 $3,710 4 Inch Turbine Meter $1,490 $2,670 $4,160 4 Inch Compound Meter $1,670 $3,645 $5,315 6 Inch Turbine Meter $2,210 $5,025 $7,235 6 Inch Compound Meter $2,330 $6,920 $9,250 8 Inch and Larger Meters\*\* Actual Cost Actual Cost Actual Cost \*Amount will be adjusted to include the actual cost incurred when boring under or cutting a road, highway, or sidewalk is required. \*\*Actual cost includes all cost to provide the customer service under this tariff including labor, materials, overhead and related charges. Actual cost will also be adjusted to include cost incurred when boring under or cutting a road, highway, or sidewalk is required.

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EXHIBIT 5 Sustainable Water Surcharge Plan of Administration (Redline Version)

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Global Water – Santa Cruz Water Company, Inc. Effective Date: Decision No: Docket No: W-20446A-25-0022 1 Sustainable Water Surcharge Plan of Administration APPLICABLE TO:  Global Water – Santa Cruz Water Company, Inc. ("GW-Santa Cruz" or the "Company")  Global Water – Belmont Water Company, Inc. ("GW-Belmont")  Global Water – Turner Ranches Irrigation, Inc. ("GW-Turner")  Global Water – Saguaro District Company, Inc. ("GW-Saguaro")  Global Water – Farmers Water Company, Inc. ("GW-Farmers") 1) INTRODUCTION. This document is the Plan of Administration ("POA") for the Sustainable Water Surcharge ("SWS") for GW-Santa Cruz. The SWS allows the Company to pass through to its customers the costs related to the purchase and exchange of sustainable water supplies as well as the recovery of capital and ongoing operations and maintenance of acquiring new water supplies and resources in- between rate cases.1 2) GENERAL DESCRIPTION OF SWS. A) The purpose of the SWS is to recover the costs of purchasing sustainable water supplies, utilizing those sustainable water supplies via exchange, wheeling, or storage and recovery. Recoverable costs include contracting, delivery, legal, and administrative costs paid to 1 This Plan of Administration shall not apply to any new water supply relating to the Barlett Dam. Any determination about whether expenses relating to the Bartlett Dam project shall be determined in a separate docket consistent with the AWC Decision No. 81022 at pages 97, 128-129.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Water – Santa Cruz Water Company, Inc. Effective Date: Decision No: Docket No: W-20446A-25-0022 2 Central Arizona Project ("CAP") and others as necessary to allow the Company to deliver the renewable water supplies to the Company's customers via exchange, wheeling, or storage and recovery and thereby reduce the Company's pumping of groundwater in its service areas creating a more resilient and sustainable water future for its customers. For the purposes of this POA, "wheeling" or to "wheel" means to transport water using third party infrastructure, such as a canal or pipeline. Recoverable costs will also include costs associated with maintaining a Member Service Agreement ("MSA") with the Central Arizona Water Conservation District ("CAWCD"), including annual membership dues and replenishment fees and the reduction of these fees when sustainable water is put to use. The SWS will include costs for groundwater withdrawal fees paid to the Arizona Department of Water Resources ("ADWR") since these costs may be reduced as the Company increases its use of sustainable water supplies and reduces its use of groundwater. Additionally, the SWS mechanism will recover the capital investments and on-going operations and maintenance costs of acquiring new water supplies or resources for longer-term projects when the opportunities arise.2 Given the need for additional water supplies and the unpredictable and capital intensive nature of the water supply market, this mechanism will also allow the Company the ability to fund critical water supply investments when opportunities arise. Once a water supply is acquired, the appropriate cost components can be characterized as Category 2 Please see "Category 3" costs for a detailed explanation of the capital and on-going O&M costs.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Water – Santa Cruz Water Company, Inc. Effective Date: Decision No: Docket No: W-20446A-25-0022 3 3 Costs outlined below. In addition to the regular filings outlined below, the Category 3 Cost Component will be integrated into a supply-specific surcharge to be set semi-annually. This will be in addition to the current Category 1 and Category 2 SWS cost components which are calculated biannually. The qualifying cost components will be aggregated as a SWS rate and will continue to be billed to the appropriate customers on a per thousand gallons basis for the Category 1 and 2 costs. The Category 3 costs will be by means of a monthly fixed rate and a commodity rate billed on a per thousand gallons basis. The recovery will be split evenly between the fixed and commodity rate components and are described in detail below. B) The SWS is applicable to all water sales by the Company, including residential, commercial, construction, and potable sales. C) The Company will make semi-annual SWS filings (the first being due January 31, 2023, then by January 31 and July 31 of each year thereafter) to adjust the SWS rate. Included with the January 31 and July 31 filing, the Company will include the Category 3 costs surcharge calculation. The Company's SWS rate will be billed per thousand gallons sold for all water customers. The SWS will appear on customers' bills as a separate line item labeled "Sustainable Water Surcharge". The rate for the costs will be adjusted semi-annually, March 1 and September 1 of each year to true up the previous six months ("True-Up Period") of activity and recover actual costs incurred in the most recent six months ("Recent Cost Recovery Period"). The chart below delineates examples of filings and timeframes. Within 30 days of each semiannual recovery filing, the Commission's Utilities Division shall docket

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Water – Santa Cruz Water Company, Inc. Effective Date: Decision No: Docket No: W-20446A-25-0022 4 a Staff Memorandum and Proposed Order for approval, modification, or rejection of the surcharge adjustment. The surcharge adjustment shall not take effect until approved by the Commission. 3) COMPONENTS OF SWS. The SWS is implemented via a semi-annual reconciliation3 which includes: 1) True-Up Period Under/Over Recovery, 2) Recent Cost Recovery Period Recovery, and 3) Determination of the Surcharge Rate, Per 1,000 Gallons of Usage. A) True-Up Period Under/Over Recovery4 This component accounts for the under- or over- recovery of the Company's prior period's sustainable water costs through the surcharge. The computation is: a) The Company's actual sustainable water costs for the previous six month True- Up Period ending either June 30, or December 31. b) Less actual annual SWS revenues collected by the Company through the end of the previous six-month True-Up Period year ending either June 30, or December 31. c) Equals the Over / Under Collection Balance. 3 Category 3 costs will be reconciled semi-annually. Filing Due Date Rate Effective Date Recent Cost Recovery Period True-Up Period 1/31/2023 3/1/2023 July 2022 – December 2022 January 2022–June 2022 7/31/2023 9/1/2023 January 2023 – June 2023 July 2022–December 2022

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Water – Santa Cruz Water Company, Inc. Effective Date: Decision No: Docket No: W-20446A-25-0022 5 B) Recent Cost Recovery Period Recovery This component accounts for the actual incurred expenses of the Company for the immediately prior six month period. The computation is: a) Actual sustainable water costs for the prior six months ending either June 30, or December 31. C) Determination of the Surcharge Rate, Per 1,000 Gallons This Component determines the current year for the Company SWS on a per 1,000 gallon basis. The computation is: a) Over / Under Collection Balance as described above. b) Plus, actual sustainable water costs for the prior six months. c) The sum of 1 and 2 above is divided by sales (1,000 gallons sold by the Company in the previous six-month period). d) Equals current SWS per 1,000 gallons sold. D) Allowable components of Sustainable Water Cost The following costs will be eligible for recovery under the SWS. Category 1 Costs: 1. Costs paid to the Central Arizona Water Conservation District pursuant to Subcontract No. 07-XX-20-W0475 dated March 26, 2007. 2. Costs paid to wheel the water for use, costs associated with exchanging the water to allow for use, and costs paid for the storage and recovery of the water. Groundwater withdrawal fees paid to the Arizona Department of Water Resources. If groundwater

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Water – Santa Cruz Water Company, Inc. Effective Date: Decision No: Docket No: W-20446A-25-0022 6 withdrawal fees were included in the Test Year expenses used in Decision Nos. listed in the 'Applicable To:' section, the amount of groundwater withdrawal fees included in the adjustor calculation will be the amount over or under the test year amount (i.e. the difference from the test year amount). Category 2 Costs: 1. Costs paid to acquire and use sustainable water supplies or stored sustainable water supplies other than CAP water available pursuant to Subcontract No. 07- XX-20-W0475 dated March 26, 2007. 2. Costs paid to wheel the water for use, costs associated with exchanging the water to allow for use, and costs paid for the storage and recovery of the water, except for CAP water available pursuant to Subcontract No. 07-XX-20-W0475 dated March 26, 2007. 3. Costs paid to the CAGRD for maintaining the MSA including annual membership dues and replenishment fees and reductions to those fees due to the use of sustainable water supplies. Category 3 Costs: 1. Costs paid for the acquisition of new water supplies and water resources at the time of payment. 2. Any on-going operations and maintenance ("O&M")costs associated with Category 3 costs. Rate Design for Category 3 Costs: 1. The rate will be billed to all customers by means of a monthly fixed rate and a commodity rate billed on a per thousand gallons basis. The recovery will be split

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Water – Santa Cruz Water Company, Inc. Effective Date: Decision No: Docket No: W-20446A-25-0022 7 evenly between the fixed and commodity rate components. 2. The fixed component of the Category 3 component shall be calculated by dividing 50% of the Revenue Requirement by the number of active equivalent 5/8 x ¾-inch meters at the end of the most recent 6-month period, and shall increase with meter size based on the following meter capacity multiples: Meter Size Multipliers 5/8-inch x 3/4-inch 1.0 times 3/4-inch 1.0 times 1-inch 2.5 times 1-1/2-inch 5.0 times 2-inch 8.0 times 3-inch 16.0 times 4-inch 25.0 times 6-inch 50.0 times 8-inch 80.0 times 3. The commodity rate will be calculated by dividing 50% of the SWS Revenue Requirement by the average gallons sold for the most recent 6-month period. 4. The Surcharge will continue be included on customers labeled "Sustainable Water Surcharge." E) SWS RELATED FILINGS. A) The Company shall file the required semi-annual SWS filing by January 31 and July 31 each year to be effective on March 1 and September 1 of the same year. B) The Company will provide the Commission with schedules showing: • Its sustainable water supply costs for the True-Up Period and its collections under the SWS that includes a calculation of any under or over recovery for the True-Up Period.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Water – Santa Cruz Water Company, Inc. Effective Date: Decision No: Docket No: W-20446A-25-0022 8 • Its projected sustainable water supply costs for the Recent Cost Recovery Period including a calculation of the current period SWS revenue target. • Calculation of the current semiannual SWS, per 1,000 gallons of water sold. • An updated sustainable water use projection for the current year and the following 4 years. C) A discussion of any significant events affecting the Company's acquisition and use of sustainable water supplies.

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EXHIBIT 5 Sustainable Water Surcharge Plan of Administration (Clean Version)

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Water – Santa Cruz Water Company, Inc. Effective Date: Decision No: Docket No: W-20446A-25-0022 1 Sustainable Water Surcharge Plan of Administration APPLICABLE TO: • Global Water – Santa Cruz Water Company, Inc. ("GW-Santa Cruz" or the "Company") • Global Water – Belmont Water Company, Inc. ("GW-Belmont") • Global Water – Turner Ranches Irrigation, Inc. ("GW-Turner") • Global Water – Saguaro District Company, Inc. ("GW-Saguaro") • Global Water – Farmers Water Company, Inc. ("GW-Farmers") 1) INTRODUCTION. This document is the Plan of Administration ("POA") for the Sustainable Water Surcharge ("SWS") for GW-Santa Cruz. The SWS allows the Company to pass through to its customers the costs related to the purchase and exchange of sustainable water supplies as well as the recovery of capital and ongoing operations and maintenance of acquiring new water supplies and resources in- between rate cases.1 2) GENERAL DESCRIPTION OF SWS. A) The purpose of the SWS is to recover the costs of purchasing sustainable water supplies, utilizing those sustainable water supplies via exchange, wheeling, or storage and recovery. Recoverable costs include contracting, delivery, legal, and administrative costs paid to 1 This Plan of Administration shall not apply to any new water supply relating to the Barlett Dam. Any determination about whether expenses relating to the Bartlett Dam project shall be determined in a separate docket consistent with the AWC Decision No. 81022 at pages 97, 128-129.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Water – Santa Cruz Water Company, Inc. Effective Date: Decision No: Docket No: W-20446A-25-0022 2 Central Arizona Project ("CAP") and others as necessary to allow the Company to deliver the renewable water supplies to the Company's customers via exchange, wheeling, or storage and recovery and thereby reduce the Company's pumping of groundwater in its service areas creating a more resilient and sustainable water future for its customers. For the purposes of this POA, "wheeling" or to "wheel" means to transport water using third party infrastructure, such as a canal or pipeline. Recoverable costs will also include costs associated with maintaining a Member Service Agreement ("MSA") with the Central Arizona Water Conservation District ("CAWCD"), including annual membership dues and replenishment fees and the reduction of these fees when sustainable water is put to use. The SWS will include costs for groundwater withdrawal fees paid to the Arizona Department of Water Resources ("ADWR") since these costs may be reduced as the Company increases its use of sustainable water supplies and reduces its use of groundwater. Additionally, the SWS mechanism will recover the capital investments and on-going operations and maintenance costs of acquiring new water supplies or resources for longer-term projects when the opportunities arise.2 Given the need for additional water supplies and the unpredictable and capital intensive nature of the water supply market, this mechanism will also allow the Company the ability to fund critical water supply investments when opportunities arise. Once a water supply is acquired, the appropriate cost components can be characterized as Category 2 Please see "Category 3" costs for a detailed explanation of the capital and on-going O&M costs.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Water – Santa Cruz Water Company, Inc. Effective Date: Decision No: Docket No: W-20446A-25-0022 3 3 Costs outlined below. In addition to the regular filings outlined below, the Category 3 Cost Component will be integrated into a supply-specific surcharge to be set semi-annually. This will be in addition to the current Category 1 and Category 2 SWS cost components which are calculated biannually. The qualifying cost components will be aggregated as a SWS rate and will continue to be billed to the appropriate customers on a per thousand gallons basis for the Category 1 and 2 costs. The Category 3 costs will be by means of a monthly fixed rate and a commodity rate billed on a per thousand gallons basis. The recovery will be split evenly between the fixed and commodity rate components and are described in detail below. B) The SWS is applicable to all water sales by the Company, including residential, commercial, construction, and potable sales. C) The Company will make semi-annual SWS filings (the first being due January 31, 2023, then by January 31 and July 31 of each year thereafter) to adjust the SWS rate. Included with the January 31 and July 31 filing, the Company will include the Category 3 costs surcharge calculation. The Company's SWS rate will be billed per thousand gallons sold for all water customers. The SWS will appear on customers' bills as a separate line item labeled "Sustainable Water Surcharge". The rate for the costs will be adjusted semi-annually, March 1 and September 1 of each year to true up the previous six months ("True-Up Period") of activity and recover actual costs incurred in the most recent six months ("Recent Cost Recovery Period"). The chart below delineates examples of filings and timeframes. Within 30 days of each semiannual recovery filing, the Commission's Utilities Division shall docket

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Water – Santa Cruz Water Company, Inc. Effective Date: Decision No: Docket No: W-20446A-25-0022 4 a Staff Memorandum and Proposed Order for approval, modification, or rejection of the surcharge adjustment. The surcharge adjustment shall not take effect until approved by the Commission. 3) COMPONENTS OF SWS. The SWS is implemented via a semi-annual reconciliation3 which includes: 1) True-Up Period Under/Over Recovery, 2) Recent Cost Recovery Period Recovery, and 3) Determination of the Surcharge Rate, Per 1,000 Gallons of Usage. A) True-Up Period Under/Over Recovery4 This component accounts for the under- or over- recovery of the Company's prior period's sustainable water costs through the surcharge. The computation is: a) The Company's actual sustainable water costs for the previous six month True- Up Period ending either June 30, or December 31. b) Less actual annual SWS revenues collected by the Company through the end of the previous six-month True-Up Period year ending either June 30, or December 31. c) Equals the Over / Under Collection Balance. 3 Category 3 costs will be reconciled semi-annually. Filing Due Date Rate Effective Date Recent Cost Recovery Period True-Up Period 1/31/2023 3/1/2023 July 2022 – December 2022 January 2022–June 2022 7/31/2023 9/1/2023 January 2023 – June 2023 July 2022–December 2022

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Water – Santa Cruz Water Company, Inc. Effective Date: Decision No: Docket No: W-20446A-25-0022 5 B) Recent Cost Recovery Period Recovery This component accounts for the actual incurred expenses of the Company for the immediately prior six month period. The computation is: a) Actual sustainable water costs for the prior six months ending either June 30, or December 31. C) Determination of the Surcharge Rate, Per 1,000 Gallons This Component determines the current year for the Company SWS on a per 1,000 gallon basis. The computation is: a) Over / Under Collection Balance as described above. b) Plus, actual sustainable water costs for the prior six months. c) The sum of 1 and 2 above is divided by sales (1,000 gallons sold by the Company in the previous six-month period). d) Equals current SWS per 1,000 gallons sold. D) Allowable components of Sustainable Water Cost The following costs will be eligible for recovery under the SWS. Category 1 Costs: 1. Costs paid to the Central Arizona Water Conservation District pursuant to Subcontract No. 07-XX-20-W0475 dated March 26, 2007. 2. Costs paid to wheel the water for use, costs associated with exchanging the water to allow for use, and costs paid for the storage and recovery of the water. Groundwater withdrawal fees paid to the Arizona Department of Water Resources. If groundwater

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Water – Santa Cruz Water Company, Inc. Effective Date: Decision No: Docket No: W-20446A-25-0022 6 withdrawal fees were included in the Test Year expenses used in Decision Nos. listed in the 'Applicable To:' section, the amount of groundwater withdrawal fees included in the adjustor calculation will be the amount over or under the test year amount (i.e. the difference from the test year amount). Category 2 Costs: 1. Costs paid to acquire and use sustainable water supplies or stored sustainable water supplies other than CAP water available pursuant to Subcontract No. 07- XX-20-W0475 dated March 26, 2007. 2. Costs paid to wheel the water for use, costs associated with exchanging the water to allow for use, and costs paid for the storage and recovery of the water, except for CAP water available pursuant to Subcontract No. 07-XX-20-W0475 dated March 26, 2007. 3. Costs paid to the CAGRD for maintaining the MSA including annual membership dues and replenishment fees and reductions to those fees due to the use of sustainable water supplies. Category 3 Costs: 1. Costs paid for the acquisition of new water supplies and water resources at the time of payment. 2. Any on-going operations and maintenance ("O&M")costs associated with Category 3 costs. Rate Design for Category 3 Costs: 1. The rate will be billed to all customers by means of a monthly fixed rate and a commodity rate billed on a per thousand gallons basis. The recovery will be split

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Water – Santa Cruz Water Company, Inc. Effective Date: Decision No: Docket No: W-20446A-25-0022 7 evenly between the fixed and commodity rate components. 2. The fixed component of the Category 3 component shall be calculated by dividing 50% of the Revenue Requirement by the number of active equivalent 5/8 x ¾-inch meters at the end of the most recent 6-month period, and shall increase with meter size based on the following meter capacity multiples: Meter Size Multipliers 5/8-inch x 3/4-inch 1.0 times 3/4-inch 1.0 times 1-inch 2.5 times 1-1/2-inch 5.0 times 2-inch 8.0 times 3-inch 16.0 times 4-inch 25.0 times 6-inch 50.0 times 8-inch 80.0 times 3. The commodity rate will be calculated by dividing 50% of the SWS Revenue Requirement by the average gallons sold for the most recent 6-month period. 4. The Surcharge will continue be included on customers labeled "Sustainable Water Surcharge." E) SWS RELATED FILINGS. A) The Company shall file the required semi-annual SWS filing by January 31 and July 31 each year to be effective on March 1 and September 1 of the same year. B) The Company will provide the Commission with schedules showing: • Its sustainable water supply costs for the True-Up Period and its collections under the SWS that includes a calculation of any under or over recovery for the True-Up Period.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Water – Santa Cruz Water Company, Inc. Effective Date: Decision No: Docket No: W-20446A-25-0022 8 • Its projected sustainable water supply costs for the Recent Cost Recovery Period including a calculation of the current period SWS revenue target. • Calculation of the current semiannual SWS, per 1,000 gallons of water sold. • An updated sustainable water use projection for the current year and the following 4 years. C) A discussion of any significant events affecting the Company's acquisition and use of sustainable water supplies.

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## Exhibit 99.1

![image_0a.jpg](image_0a.jpg)

<br>**Global Water Resources Files Settlement Agreement for GW**-**Santa Cruz and GW-Palo Verde Rate Cases**

*If Approved, Settlement Agreement Provides $2.3 Million in Additional Net Revenue for GW-Santa Cruz to Support Infrastructure Investment*

**PHOENIX, AZ – April 29, 2026** – Global Water Resources, Inc. (NASDAQ: GWRS), a pure-play water resource management company, has filed a settlement agreement with the Arizona Corporation Commission (ACC) related to the previously filed general rate cases for Global Water – Santa Cruz Water Company, Inc. (GW-Santa Cruz) and Global Water – Palo Verde Utilities Company, Inc. (GW-Palo Verde). This unanimous settlement agreement, negotiated with ACC Utilities Division Staff and the Residential Utility Consumer Office (RUCO), details the terms upon which the parties have agreed to bifurcate and settle the rate cases, including, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an increase in GW-Santa Cruz's annual revenue requirement of approximately $2.3 million with a rate base of $63.6 million, reflecting a capital structure of 55% common equity/45% debt and a return on equity of 9.6%;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a requested effective date of the new rates for GW-Santa Cruz of November 1, 2026;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an estimated bill increase for the median water user consuming 5,500 gallons per month of only $2.68;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the withdrawal of the GW-Palo Verde rate case, with the agreement that GW-Palo Verde will refile its rate application in 2027 using a 2026 test year; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• GW-Palo Verde's commitment to seek an increase to the amount of the temporary bill credit for its customers of approximately $0.4 million annually until resolution of the next GW-Palo Verde rate case. The increase to the temporary bill credit is anticipated to coincide with the new rates described above for GW-Santa Cruz going into effect.

"We appreciate the joint efforts of the ACC Utilities Division Staff and RUCO in reaching this unanimous settlement," commented Global Water Chief Operating Officer Chris Krygier.

Global Water President and CEO Ron Fleming added, "This settlement agreement marks an important step toward the inclusion of the legacy Southwest Plant in base rates. With most of the GW-Santa Cruz water assets included for rate recovery in this settlement agreement, we can turn our attention towards the goal of achieving a fair outcome in our anticipated rate application for GW-Palo Verde in 2027 for its wastewater assets. We will continue working with our community stakeholders to outline the need and benefit of these assets and why they are appropriate to include for rate recovery."

The procedural schedule for GW-Santa Cruz's rate case remains on track, with a hearing before an Administrative Law Judge scheduled for August 2026, followed by a Recommended Opinion and Order for the Commission's consideration at a future open meeting.

The company expects to begin planning efforts for the anticipated 2027 rate application for GW-Palo Verde and plans to provide future updates, as appropriate.

**About Global Water Resources**

Global Water Resources, Inc. is a leading water resource management company that owns and operates 39 systems which provide water, wastewater, and recycled water service. The company's service areas are located primarily in growth corridors

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around metropolitan Phoenix and Tucson. Global Water recycles over 1 billion gallons of water annually with 19.3 billion gallons recycled since 2004.

The company has been recognized for its highly effective implementation of Total Water Management (TWM). TWM is an integrated approach to managing the entire water cycle that involves owning and operating water, wastewater and recycled water utilities within the same geographic area in order to maximize the beneficial use of recycled water. It enables smart water management programs such as remote metering infrastructure and other advanced technologies, rate designs, and incentives that result in real conservation. TWM helps protect water supplies in water-scarce areas experiencing population growth.

Global Water has received numerous industry awards, including national recognition as a 'Utility of the Future Today' for its superior water reuse practices by a national consortium of water and conservation organizations led by the Water Environment Federation (WEF). The company also received Cityworks' Excellence in Departmental Practice Award for demonstrating leadership and creativity in applying public asset management strategies to daily operations and long-term planning.

To learn more, visit www.gwresources.com.

**Cautionary Note Regarding Forward-Looking Statements**

Certain statements in this press release contain forward-looking statements within the meaning of federal securities laws and which reflect the Company's expectations regarding future events. The forward-looking statements involve a number of assumptions, risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning the Company's plans, expectations and estimates relating to the terms of the Settlement Agreement. These statements may be identified by the use of words such as "could," "would," "may," "might," "will," "expect," "likely," "believe," "continue," "anticipate," "estimate," "intend," "plan," "project" and other similar expressions to identify some forward-looking statements, but not all forward-looking statements include these words. All forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, such as those described in the Company's filings with the Securities and Exchange Commission (the "SEC"), including the Company's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings with the SEC. Accordingly, investors are cautioned not to place undue reliance on any forward-looking statements, which reflect management's views as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, except as required by law, whether as a result of new information, future developments or otherwise.

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| **Company Contact:**<br>Michael J. Liebman <br>CFO and SVP<br>Tel (480) 999-5104 <br>mike.liebman@gwresources.com | **Investor Relations:**<br>Ron Both or Grant Stude<br>Encore Investor Relations<br>Tel (949) 432-7450<br>GWRS@encore-ir.com |

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