Davis Polk advised the forward purchasers and the forward sellers in connection with the execution of forward sale agreements relating to an aggregate of 1,212,120 shares of New Jersey Resources Corporation’s common stock (NYSE: NJR) in connection with an SEC-registered offering of an approximately 6.5 million shares of such common stock. The approximately 6.5 million shares include 845,454 shares purchased by the underwriters pursuant to their option to purchase additional shares. In connection with the forward sale agreements, the forward sellers borrowed an aggregate of 1,212,120 shares of New Jersey Resources Corporation’s common stock (366,666 shares in connection with the base forward sale agreements and 845,454 shares in connection with the additional forward sale agreements executed in connection with the exercise by the underwriters of their option to purchase additional shares) from third parties and sold these shares to the underwriters.

New Jersey Resources Corporation is an energy services holding company that, through its subsidiaries, provides natural gas and clean energy services, including transportation, distribution, asset management and home services.

The Davis Polk equity derivatives team included partner Mark M. Mendez and associates Crystal Chi and Stockton Bullitt. Partner Lucy W. Farr provided tax advice. All members of the Davis Polk team are based in the New York office.

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