NEW JERSEY RESOURCES: ANNOUNCEMENT OF MANAGEMENT PROMOTIONS AND KEY LEADERSHIP CHANGES – Form 8-K


NEW JERSEY RESOURCES ANNOUNCES EXECUTIVE PROMOTIONS

AND KEY CHANGES IN LEADERSHIP

Measures strengthen the foundations for advancing growth and sustainability initiatives

across the company

WALL, NJ, December 8, 2021 – New Jersey Resources (NYSE: NJR) today announced a series of executive and senior management promotions that enable the company to execute on its growth strategy, development goals sustainability and its investment priorities.

Unless otherwise specified, the changes will take effect on January 1, 2022 and will include:

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Patrick Migliaccio has been appointed Senior Vice President and Chief Operating Officer of New Jersey Natural Gas (NJNG).

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Roberto Bel has been promoted to Senior Vice President and Chief Financial Officer of NJR.

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Sean Annitto will succeed Vice President Timothy Shea, who is retiring from NJR Energy Services (NJRES) in February 2022, and will lead NJR’s unregulated wholesale natural gas marketing activities.

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Robert Pohlman has been promoted to vice president of strategy, communications, government relations and policy at NJR.

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Daniel Sergott has been promoted to treasurer of NJR.

“The elevation of these proven and capable leaders to leadership positions in our organization places New Jersey Resources in an even stronger position to execute our strategy, provide safe and reliable service to our customers, and advance our business goals. ‘clean energy and climate,’ said Steve Westhoven. , President and CEO of New Jersey Resources. “Our team will continue to advance NJR as a leader in sustainability and seize exciting new opportunities to invest and grow in the future of clean energy.”

You can find more information on these changes and biographical information below:

Senior Vice President and Chief Operating Officer Patrick Migliaccio will oversee NJNG, NJR’s largest subsidiary, advance the utility’s decarbonization efforts and lead its infrastructure investments and customer growth targets, while managing the operations of its more than 770 employees and 7,600 distribution and transportation miles.

Mr. Migliaccio joined NJR in 2009 as Controller of the company’s unregulated operations. He held various positions in the finance function before being promoted to Senior Vice President and Chief Financial Officer in 2016.

NEW JERSEY RESOURCES ANNOUNCES PROMOTIONS AND KEY LEADERSHIP CHANGES

Measures strengthen the foundation for advancing growth and sustainability initiatives across the company

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As CFO, he led the finance and accounting team during a period of significant growth at NJR, including over $ 1.5 billion in infrastructure investments at NJNG, an increase in spending in capital and revenue growth at NJR Clean Energy Ventures, as well as the acquisitions of Leaf River Energy Center and the Adelphia Gateway pipeline, which now form the largest pieces of NJR’s Storage and Transportation business segment.

Prior to joining NJR, Mr. Migliaccio worked for Public Service Enterprise Group and NRG Energy, as well as other energy companies in New Jersey.

Senior Vice President and Chief Financial Officer Roberto Bel will be responsible for managing NJR’s financial functions, including financial planning and analysis, accounting, tax, treasury, risk management and relationships with Investors.

Mr. Bel joined NJR in 2019 as Vice President-Treasurer and Investor Relations and has over 20 years of experience in finance. He led the treasury function at a time of high funding needs, driven by the highest levels of capital investment ever recorded by NJR. He also led NJR’s first public offering of shares in over 30 years and guided Investor Relations in developing and deploying a long-term strategic growth plan for NJR.

Prior to joining NJR, Mr. Bel was Deputy Treasurer of Thomson Reuters and CFO of Latin American Operations at Thomson Reuters. Previously, he was Vice President and Chief Financial Officer of General Motors Colmotores and General Motors Venezolana and held various positions of increasing responsibility in the Office of the Treasurer of General Motors in New York.

Vice President of Energy Services Sean Annitto will succeed Tim Shea as head of NJRES, the company’s unregulated wholesale natural gas business. Mr. Shea is retiring after 23 years with the company, effective February 2022.

Mr. Annitto joined NJRES in 1996 and has served as Vice President of Energy Services since 2019. He has over 20 years of experience in energy trading, commodity hedging, and business development. opportunities for strategic growth, and has been instrumental in the development, implementation and management of NJRES. long option strategy successful. With his proven expertise in the dynamic energy market in the United States, he continues to effectively guide the valuation, structure and optimization of the company’s portfolio.

Vice President of Strategy, Communications, Government Relations and Policy Robert Pohlman will drive business and growth opportunities across NJR, including emerging clean energy markets, while overseeing public policy, government relations and communications.

Mr. Pohlman joined NJR in 2011 and was Director of Business Development for NJR Clean Energy Ventures (CEV) before being appointed Chief of Staff to the President and CEO in 2019. He was promoted to CEO of the innovation and strategic initiatives in 2020.

NEW JERSEY RESOURCES ANNOUNCES PROMOTIONS AND KEY LEADERSHIP CHANGES

Measures strengthen the foundation for advancing growth and sustainability initiatives across the company

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A proven negotiator in the field of sustainable investing, Mr. Pohlman has helped CEV invest more than $ 1 billion in renewable infrastructure over the past 10 years. As Chief of Staff and Managing Director, he also played a central role in corporate strategy, external communications, policies and messaging to investors.

Prior to joining NJR, he worked as Vice President at Citadel, Assistant Vice President Credit Suisse Energy LLC and Barclays Capital, Inc.

Treasurer Daniel Sergott will be responsible for the treasury functions of NJR. Mr. Sergott joined NJR in 2006 and has held various leadership roles in financial planning and analysis and corporate development, including Director of Financial Planning and Analysis and Director of Development Finance. the company. As a senior executive in the finance and accounting team, Dan has been instrumental in NJR’s accomplishments in finance, equity, and mergers and acquisitions over the past five years.

Prior to joining NJR, Mr. Sergott worked as an independent financial consultant, as well as CFO and CFO at CDI Corporation and senior financial analyst at Salomon Smith Barney and Goldman Sachs.

“These leadership changes strengthen our organization. I would like to congratulate Pat, Roberto, Sean, Bobby and Dan for their promotions, and to thank Tim for his many years of contributions which have helped make NJR Energy Services one of the leading natural gas distributors in North America ” , Westhoven said.

About New Jersey Resources
New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, management of assets and home services. NJR is made up of five main activities:

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New Jersey Natural Gas, the primary subsidiary of NJR, operates and maintains over 7,600 miles of natural gas transportation and distribution infrastructure to serve over half a million customers in Monmouth, Ocean and parts of the counties of Morris, Middlesex and Burlington in New Jersey.

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NJR Clean Energy Ventures invests in, owns and operates solar projects with a total capacity of over 365 megawatts, providing residential and commercial customers with low carbon energy solutions.

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NJR Energy Services manages a diverse portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.

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Storage & Transportation serves customers, from local distributors and generators to power producers and wholesalers, through its ownership of Leaf River Energy Center and the Adelphia Gateway Pipeline project, as well as our 50% interest in the Steckman Ridge natural gas storage facility.

NEW JERSEY RESOURCES ANNOUNCES PROMOTIONS AND KEY LEADERSHIP CHANGES

Measures strengthen the foundation for advancing growth and sustainability initiatives across the company

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NJR Home Services provides service contracts as well as heating, central air conditioning, water heaters, back-up generators, solar products and other indoor and outdoor comfort products to homes in New Jersey.

NJR and its nearly 1,200 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve.® and initiatives such as the SAVEGREEN project® and the benefit of sunlight®.

Follow us on Twitter @NJNaturalGas.

“Like us” on facebook.com/NewJerseyNaturalGas.

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