Middlesex Water (MSEX) 8-K Submission of Matters to a Vote of Security Holders

2011 Annual Meeting of
Shareholders

May 24, 2011

Certain matters discussed in this presentation are forward-
lookingstatements intended to qualify for the “safe harbor”
from liability established by the Private Securities Litigation
Reform Act of 1995.These forward-looking statements can
generally be identified as such because the context of the
statement will include words such as the Company “believes,”
“anticipates,” “expects” or words of similar import.Similarly,
statements that describe the Company’s future plans,
objectives, estimates or goals are also forward-looking
statements that are subject to the risks and uncertainties that
could cause actual results to differ materially from those
expressed or implied in the statements.

Forward Looking Statement

FINANCIAL
HIGHLIGHTS

Earnings Per Share

Revenue Growth

($ Millions)

13% growth in revenues

Record Performance(Millions except per share amounts)

Year Ended
December 31,

20102009

Operating Revenues$ 102.7$ 91.2

Operating Expenses$76.1$ 71.0

Net Income $14.3$10.0

Diluted Earnings per Share$0.96$ 0.72

Net income up 43.6%

Timely and Adequate Rate Increases

- Middlesex- $7.8 Million base rate increase

Effective March 17, 2010

- Tidewater - $0.4 Million DSIC rate increase

Customer Consumption

- Customer Growth - Delaware

- Economy

- Water Use Trends

Operating Costs

Factors Impacting 2010
Financial Performance

Performance
(Millions except per share amounts)

First Quarter Ended

March 31,

20112010

Operating Revenues$ 24.0$ 21.7

Operating Expenses$ 19.2$18.4

Net Income $2.6$1.6

Diluted Earnings per Share$0.17$0.11

Factors Impacting
2011 Financial
Performance

- Middlesex - 2010 Rate Increase

Operating Costs

- Labor and Benefits (Higher)

- Water Production (Lower)

- Uncollectible Accounts (Higher)

Utility Plant ($ Millions)

2011 Construction Program ($ Millions)

2011

Distribution System: $8.5

Technology:$2.3

MWC RENEW Program:$5.0

Plant Improvements: $5.2

Other Infrastructure Needs:$   1.9

Total:$22.9

2011 Construction Funding ($ Millions)

SRF Loans: $7.8

Short Term loans$2.0

Reinvestment Plan$1.4

CustomerAdvances$1.7

Net Cash Flows$10.0

TOTAL FUNDING$22.9

Dividends(Annual Rate)

20102009200820072006

$0.73$0.72$0.71$0.70$0.69

Ø Quarterly dividends paid since 1912

Ø Increased dividends for 38 consecutive years

Ø Current Dividend Yield: 4.1%

Dividend Achiever

Dividends Paid

COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN*

Among Middlesex Water Company, The Dow Jones Wilshire 5000 Index and a Peer Group

*$100 invested on 12/31/05 in stock or index-including reinvestment of dividends.

** Peer group includes American States Water Company, American Water Works, Inc., Aqua
America Inc., Artesian Resources Corp., California Water Service Company, Connecticut Water
Service, Inc., Pennichuck Corp., SJW Corp., York Water Company and Middlesex Water.

OPERATING
HIGHLIGHTS

Replaced 5,365 feet of 104-year old cast iron pipeline
under the Raritan River in Middlesex County, NJ

Water main replacement
project Voted “Project of
the Year” and set World
Record for Longest known
24-inch Fusable PVC Pipe
Installation using Horizontal
Directional Drilling

Special Focus:

ü Pioneering Design

ü Strategic Planning

ü Contingency Planning

ü Risk Management

ü Experienced Partners

Marsh Main Project

Project Lauded for its Technical Complexity and Teamwork

üAWWA OP FlowüTrenchless TechnologyüTrenchless International

üASCE Civil Engineering MagazineüUtility & Transportation Contractors Assn.

Perth Amboy 91-Year old
Reservoir Rehabilitation

40 Million Gallon Reservoir

Ground View

RENEW 2011

(Cast iron water main cleaning and lining project)

Aging Infrastructure:A NATIONAL ISSUE

RENEW…part of the solution!

• Year 15 of a 25-Year Program

• $4.0 million investment to replace
water mains, valves and fire hydrants

• 17,500 feet of 6-, 8 and 10--inch
main in the City of South Amboy, NJ

•Project funding by New Jersey
Environmental Infrastructure Trust

Southern Shores Treatment Plant
Rehabilitation

Water Quality…Our customers
depend on it!

Using Technology to
ImproveBusiness
Processes- ERP

Benefits

• Improved operating efficiencies

• Enhanced service to customers of all companies through
a sustainable platform

• Development of new skill sets and opportunities for
employees

General Ledger	Work and Asset Management
Accounts Payable	Mobile Workforce Management
Procurement	Time and Labor Management
Human Resources
Customer Care and Billing

COMPLETEDIN PROGRESS

SERVING OUR CUSTOMERS
AND OUR COMMUNITIES

Ownership/Operation
of Assets

Public/Private
Partnerships

Our Strength… One Enterprise Offering
Many Solutions

Customer Growth

Regulated vs. Non-Regulated
Customers

Operating Segments

CPCN Growth in Delaware

Investing in Facilities

Milton Plant Dedication

DE Governor Jack Markell congratulates company officials
upon touring Tidewater’s upgraded Wastewater Treatment
facility in the Town of Milton, DE.

Providing Sustainable
Wastewater Solutions

Wandendale

Informing the Public about the
Benefits of Wandendale

Public Education

Careers in the Water Industry

Prescription Drug
Take Back Day

2010 Water Quality
Report

Facility
Tours

Wise Water Use

Involved in our Local Communities

Big Wheels Day

Walk-a-thons

Mayor’s Healthy Challenge Cook-Off

Bowl For Hunger

Sponsorshipss

Meeting with local fire
professionals

Raising funds for local
food banks

Eco-Ventures Summer Day Camp

Partnering with Local Schools

Working with students
and serving as Principals for
the Day

Receiving a Proclamation from the
Mayor of Edison for National Drinking
Water Week 2011

Honoring Winners of the
Company’s 2011 Student Contest

Corporate Governance

Lead Director Role
Established in 2010

Jeffries Shein, 21- year
Director Named to Fill
that Role in 2010

Board Changes

Annette Catino

Presidentand CEO of QualCare
Alliance Networks, Inc.

John P. Mulkerin

Retired, Former President and
CEO, First Sentinel Bancorp, Inc.

Board Changes (New Directors)

Amy B. Mansue

Presidentand CEO of Children’s
Specialized Hospital

James Cosgrove, Jr. P.E.

Principal, Omni Environmental
LLC

Special Thanks to J. Richard Tompkins

Retiring after Three Decades of Service
to the Company and to the Industry

Chairman of the Board 1990-2010

President from 1981-2001

J. Richard Tompkins

FormerChairman and
President of Middlesex Water
Company

2011 Strategy for
Shareholder Value

ü Seek organic customer growth and utility infrastructure
growth

ü Pursue acquisitions at reasonable prices

ü Continue Regulated and Non-regulated business and
contracts

ü Consider complementary products and services

ü Prudentlyinvest in regulated utility infrastructure that
benefits our customers

ü Recover costs through timely rate case filings

ü Focus on geographic diversification

What the Analysts Are Saying…

“Overall, we view Middlesex as a well run utility, offering investorsmulti
-state exposure and associated growth opportunities outside its core
operating utility.”

(JanneyMontgomery Scott LLC, May 9, 2011)

“At 4.0%, Middlesex boasts the highest dividend yield within the water
utility group, which has an average yield of 3.3%.”

(Robert W. Baird & Co. Inc., May 9, 2011)

“The company remains focused on receiving timely recovery of capital
investments through rate relief, growing its customer base, managing
risk, controlling expenses and exploring growth opportunities.With first
quarter results satisfying these requirements, MSEX posted a solid
quarter and its business continues to hum.”

(Sturdivant & Co., May 11, 2011)

Why Middlesex Water?

v Stable with long-term growth
potential

v Growing reputation for delivering
sound, technical water and
wastewater solutions

v Experienced management team
and active industry leader

vHonest and ethical problem solver

vHistory of dividend growth

Thank you for your interest, confidence and support!

A Provider of Water,
Wastewater

and Related Products
and Services