Gerard Sweeney

- The recent Tucson acquisition, closed in early July, is integrating smoothly and is projected to add **$1.5 million in annualized revenue** with a **5% rate increase scheduled for next year**.  **[1434728_2146346_1]** 
- Despite a slowdown in permits, organic connection growth remains robust at **just under 4% year-to-date**, and **2025 capital expenditures are planned to be higher than previous years**.  **[1434728_2146346_2]** 
- The company anticipates continued strong growth from significant regional investments, including Taiwan Semiconductor Manufacturing Company's additional **$100 billion commitment** and Mayo Clinic's **$1.9 billion campus expansion**, driving long-term demand.  **[1434728_2146346_4]** 
- Development in the Southwest service area is progressing well, with **800 active connections** as of Q2 2025 and a projected **4,500 customers at full build-out** across three communities.  **[1434728_2146346_5]** 
- New legislation in Arizona allows for the conversion of agricultural water rights to residential use, a key long-term catalyst given that farming consumes approximately **three times more water than homes**, thereby enhancing the company's assured water supply.  **[1434728_2146346_6]**

Global Water Resources (GWRS)