ARTESIAN RESOURCES Business Summary

Artesian Resources Corporation (ARTNA) operates as a holding company primarily generating revenue through its Regulated Utility segment, which provides water and wastewater services across the Delmarva Peninsula, including Delaware, Maryland, and Pennsylvania. The company’s core revenue stream is derived from the sale of water to residential, commercial, industrial, and municipal customers, with its Delaware water operations accounting for approximately 90% of total billings. Beyond regulated utilities, Artesian maintains a Non-Utility segment that offers service line protection plans, contract water and wastewater operations, and specialized engineering services. In the competitive landscape of investor-owned water utilities, Artesian is a prominent regional player, positioned alongside larger peers such as American States Water (AWR), Middlesex Water (MSEX), and York Water (YORW). It distinguishes itself through its dominant market share in Delaware and a conservative, dividend-focused financial profile characterized by over 30 years of consecutive payout increases. Leadership is currently spearheaded by President and CEO Nicholle R. Taylor, who assumed the role in early 2025 after serving with the company since 1991, succeeding her aunt, long-time leader Dian C. Taylor, who remains Chair of the Board. The executive team is highly seasoned, featuring CFO David B. Spacht, Executive Vice President Joseph A. DiNunzio, and Senior Vice President of Operations John M. Thaeder, with an average management tenure exceeding 15 years. The company’s governance is supported by a board that includes notable members such as Salvatore J. “Chip” Rossi, a former Bank of America executive appointed in mid-2025 to enhance risk management and financial oversight. Significant institutional backing is provided by major investment firms including T. Rowe Price, Dimensional Fund Advisors, and BlackRock, which collectively hold a majority stake in the company’s Class A common stock.