September 2, 2021, New Jersey Resources Corporation (NJR), as borrower, and certain of NJR’s subsidiaries, as guarantors (the “Guarantors”), entered into a $500,000,000 Second Amended and Restated Credit Agreement, dated as of September 2, 2021 (the “NJR Second A&R Credit Agreement”) with the several lenders party thereto, PNC Bank, National Association, as Administrative Agent, JPMorgan Chase Bank, N.A., Wells Fargo Bank, National Association and Mizuho Bank Ltd., as Syndication Agents, and U.S. Bank National Association, Bank of America, N.A., TD Bank, N.A. and The Bank of Nova Scotia, as Documentation Agents. PNC Capital Markets LLC, JPMorgan Chase Bank, N.A., Wells Fargo Securities, LLC and Mizuho Bank Ltd., were the Joint Lead Arrangers of the NJR Second A&R Credit Agreement. The NJR Second A&R Credit Agreement refinances a $425,000,000 revolving credit facility that was scheduled to expire on December 5, 2023, but has now been terminated. The NJR Second A&R Credit Agreement is scheduled to terminate on September 2, 2026, subject to two mutual options for a one-year extension beyond that date. Borrowings under the NJR Second A&R Credit Agreement bear interest, at NJR’s option at (i) a rate per annum equal to the LIBOR Rate plus an applicable margin ranging between 0.875% and 1.75% or (ii) a rate per annum equal to the base rate plus an applicable margin ranging between 0.00% and 0.75%. In each case the applicable margin is determined based on the senior secured long-term credit rating of New Jersey Natural Gas Company, a wholly-owned subsidiary of NJR, from Fitch Inc. and Moody’s Investor Services Inc., or a successor nationally recognized statistical rating agency (“NJNG Credit Rating”). The Commitment Fee Rate for the NJR Second A&R Credit Agreement may range from 0.075% to 0.250%, depending upon the NJNG Credit Rating. As of the closing of the NJR Second A&R Credit Agreement, the Commitment Fee Rate was 0.075%, the applicable margin for loans described in (i) above was 1.125% and the applicable margin for loans described in (ii) above was 0.125%. The NJR Second A&R Credit Agreement permits the borrowing of revolving loans and swingline loans, and includes a $75,000,000 sublimit for the issuance of letters of credit. The NJR Second A&R Credit Agreement also includes an accordion feature, which would allow NJR, in the absence of a default or event of default, to request an increase from time to time, with the existing or new lenders, of the revolving credit commitments under the NJR Second A&R Credit Agreement of a minimum of $50,000,000 up to a maximum of $250,000,000.