South Jersey Industries, Inc. Announces Increase in Total Consideration for 5.625% Junior Subordinated Notes due 2079 and Extension of the Expiration Time and Guaranteed Delivery Date for Cash Tender Offer

FOLSOM, NJ, Oct. 29, 2024 (GLOBE NEWSWIRE) --                                                                                                  Media Contact: Krystle Straus
609-561-9000 ext. 4131

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FOR IMMEDIATE RELEASE

South Jersey Industries, Inc. Announces Increase in Total Consideration for 5.625% Junior Subordinated Notes due 2079 and Extension of the Expiration Time and Guaranteed Delivery Date for Cash Tender Offer

FOLSOM, NJ, October 29, 2024 – SJI today announced it has increased the Total Consideration from $18.00 to $20.00 for each $25.00 principal amount of the Notes (as defined below) and extended the Expiration Time (as defined below) and Guaranteed Delivery Date (as defined below) for the previously announced cash tender offer (the “Tender Offer”) to purchase for cash any and all of its outstanding 5.625% Junior Subordinated Notes due 2079 (the “Notes”) from each registered holder of the Notes (each, a “Holder,” and collectively, the “Holders”) subject to the terms specified in the Offer to Purchase, dated October 17, 2024 (as it may be amended or supplemented from time to time, the “Offer to Purchase”) and its accompanying notice of guaranteed delivery (the “Notice of Guaranteed Delivery”). Capitalized terms used but not defined herein have meanings ascribed to them in the Offer to Purchase.

Under the new terms of the Tender Offer, (i) the Total Consideration for the Notes has been increased to $20.00 for each $25.00 principal amount of the Notes (the “Amended Total Consideration”), as set forth in the table below, (ii) the Expiration Time has been extended to 5:00 p.m., New York City time, on November 4, 2024 and (iii) the Guaranteed Delivery Date has been extended to 5:00 p.m., New York City time, on November 6, 2024. In addition, the Withdrawal Deadline, which was 5:00 p.m., New York City time, on October 30, 2024, will not be extended. The number of Notes that were validly tendered and not validly withdrawn in the Tender Offer as of 5:00 p.m., New York City time, on October 28, 2024 are set forth in the table below.