Hello Consolidated Mutual Water Company Stockholders, welcome to the 2025 Annual Report:

We sincerely appreciate your continued trust and support as our valued customers.

The year 2025 was a banner year for our company, and 2026 will mark a significant milestone—our 100th anniversary. We are extremely proud of the accomplishments achieved during our first century of service and the strong foundation that has been built to support the future.

Throughout 2025, we continued our aggressive pipeline replacement program, further strengthening the resilience and redundancy of our distribution system. These ongoing improvements are part of our commitment to providing clean, reliable water at an economical cost for our customers.

We also increased the capacity of the Welton Reservoir to help ensure the long-term sustainability of our water supply, enabling us to meet the needs of our community both now and in the years ahead.

Looking forward, the outlook for 2026 presents challenges due to the limited snowpack this year. Even so, we remain focused on proactive planning and responsible system management to continue delivering dependable service.

We are pleased to share our 2025 Annual Report with you. This report highlights many of the major accomplishments achieved during 2025 and reflects our continued dedication to service, infrastructure investment, and operational excellence.

If you have any questions or concerns, please do not hesitate to contact us by email at [email protected] or by phone at (303) 238-0451.

Dear Stockholders of the Consolidated Mutual Water Company,

On behalf of our professional staff, it is my pleasure to present the 2025 Annual Report of the Consolidated Mutual Water Company (CMWC).

It is an honor to serve as the new President of CMWC. This coming year will be especially meaningful, as 2026 marks the company's 100th anniversary. Reaching this milestone is a significant achievement—one that reflects a century of dedication, service, and commitment. Every member of our staff takes great pride in being part of an organization with such a longstanding legacy, a distinction few companies can claim today.

Our staff remains fully committed to bringing the CMWC's mission to life each day. We strive to deliver exceptional customer service while providing clean, safe, reliable, and affordable water to our stockholders.

In addition, our professional team is focused on achieving the CMWC's vision by exploring opportunities to enhance water storage, address the challenges of drought, and meet the growing demands within our service area. Thoughtful planning and proactive investment remain central to ensuring the long-term sustainability of our water system.

I encourage you to visit our website regularly, as we will continue to share additional information related to drought conditions and effective water conservation practices.

I look forward to serving as your President for many years to come and working together to build upon CMWC's strong foundation for the next century.