Eversource Energy : 2022 EEI Financial Conference

EVERSOURCE ENERGY

2022 EEI FINANCIAL CONFERENCE

November 13-15, 2022

EVERSOURCE ENERGY

Safe Harbor Statement

All per-share amounts in this presentation are reported on a diluted basis. The only common equity securities that are publicly traded are common shares of Eversource Energy. The earnings and EPS of each business do not represent a direct legal interest in the assets and liabilities of such business, but rather represent a direct interest in Eversource Energy's assets and liabilities as a whole. EPS by business is a financial measure not recognized under generally accepted accounting principles (non-GAAP) that is calculated by dividing the net income or loss attributable to common shareholders of each business by the weighted average diluted Eversource Energy common shares outstanding for the period. Earnings discussions also include non-GAAP financial measures referencing 2022 and 2021 earnings and EPS excluding certain transaction and transition costs, and our 2021 earnings and EPS excluding charges at CL&P related to an October 2021 settlement agreement that included credits to customers and funding of various customer assistance initiatives and a 2021 storm performance penalty imposed on CL&P by the PURA. Eversource Energy uses these non-GAAP financial measures to evaluate and provide details of earnings results by business and to more fully compare and explain 2022 and 2021 results without including these items. This information is among the primary indicators management uses as a basis for evaluating performance and planning and forecasting of future periods. Management believes the impacts of transaction and transition costs, the CL&P October 2021 settlement agreement, and the 2021 storm performance penalty imposed on CL&P by the PURA, are not indicative of Eversource Energy's ongoing costs and performance. Due to the nature and significance of the effect of these items on net income attributable to common shareholders and EPS, management believes that the non-GAAP presentation is a more meaningful representation of Eversource Energy's financial performance and provides additional and useful information to readers in analyzing historical and future performance of the business. These non-GAAP financial measures should not be considered as alternatives to Eversource Energy's reported net income attributable to common shareholders or EPS determined in accordance with GAAP as indicators of Eversource Energy's operating performance.

This document includes statements concerning Eversource Energy's expectations, beliefs, plans, objectives, goals, strategies, assumptions of future events, future financial performance or growth and other statements that are not historical facts. These statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, readers can identify these forward-looking statements through the use of words or phrases such as "estimate," "expect," "anticipate," "intend," "plan," "project," "believe," "forecast," "should," "could" and other similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results or outcomes to differ materially from those included in the forward-looking statements. Forward-looking statements are based on the current expectations, estimates, assumptions

or projections of management and are not guarantees of future performance. These expectations, estimates, assumptions or projections may vary materially from actual

results. Accordingly, any such statements are qualified in their entirety by reference to, and are accompanied by, the following important factors that may cause our actual results or outcomes to differ materially from those contained in our forward-looking statements, including, but not limited to: cyberattacks or breaches, including those resulting in the compromise of the confidentiality of our proprietary information and the personal information of our customers; disruptions in the capital markets or other events that make our access to necessary capital more difficult or costly; the negative impacts of the novel coronavirus (COVID-19) pandemic, including any new or emerging variants, on our customers, vendors, employees, regulators, and operations; changes in economic conditions, including impact on interest rates, tax policies, and customer demand and payment ability; ability or inability to commence and complete our major strategic development projects and opportunities; acts of war or terrorism, physical attacks or grid disturbances that may damage and disrupt our electric transmission and electric, natural gas, and water distribution systems; actions or inaction of local, state and federal regulatory, public policy and taxing bodies; substandard performance of third-party suppliers and service providers; fluctuations in weather patterns, including extreme weather due to climate change; changes in business conditions, which could include disruptive technology or development of alternative energy sources related to our current or future business model; contamination of, or disruption in, our water supplies; changes in levels or timing of capital expenditures; changes in laws, regulations or regulatory policy, including compliance with environmental laws and regulations; changes in accounting standards and financial reporting regulations; actions of rating agencies; and other presently unknown or unforeseen factors.

Other risk factors are detailed in Eversource Energy's reports filed with the Securities and Exchange Commission (SEC). They are updated as necessary and available on Eversource Energy's website at www.eversource.com and on the SEC's website at www.sec.gov. All such factors are difficult to predict and contain uncertainties that may materially affect Eversource Energy's actual results, many of which are beyond our control. You should not place undue reliance on the forward-looking statements, as each speaks only as of the date on which such statement is made, and, except as required by federal securities laws, Eversource Energy undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events.

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EVERSOURCE ENERGY

Eversource is the Largest New England Utility and 1 of the 15 Largest in the United States

Eversource
Electric Customers	3.26 million
Natural Gas Customers	886,000
Water Customers	236,000
Employees	9,500
Assets	$50 billion

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EVERSOURCE ENERGY

Eversource's Total Shareholder Return Has Outperformed the Industry Over the Medium and Longer Term

Total Shareholder Return	2021	3-Year	5-Year	10-Year
Eversource	8.2%	52.0%	90.8%	245.2%
EEI 39-Company Index	17.1%	45.6%	68.6%	183.0%
S&P 500	28.7%	100.4%	133.4%	362.6%
Ranking in EEI Index	31st	6th	7th	10th

Note: 3-year,5-year and 10-year results are for the periods ended December 31, 2021.

Annualized Dividend

$3.00

$2.50				$2.27	$2.41	$2.55
		$2.14		5% - 7%
	$2.02
$2.00					+$0.14
				+$0.14
$1.50
			+$0.13
$1.00
		+$0.12
$0.50
	+$0.12
$0.00
	2018	2019	2020	2021	2022
Payout	62%	62%*	62%*	62%*
Ratios:

*Reflects non-GAAP results, excludes nonrecurring charges	3

EVERSOURCE ENERGY

A Unique Investment Opportunity

• Projected long-term EPS growth: Upper half of 5%-7% from core business
• • Electric transmission growth platform, about 4% of rate base
  • Continued O&M discipline
  • Natural gas system upgrades that include replacement of aging infrastructure, significantly reducing methane emissions
  • Expanding our water footprint through acquisitions
• Projected dividend growth in line with earnings growth
• Growth driven from implementing progressive state policies on reducing energy use and emissions, and accelerating adoption of clean technology and resources, making our delivery systems more resilient to severe weather events and other impacts of climate change
• Very strong financial condition with superior credit ratings
• Top-tieroperating performance
• A strong, experienced management team with a proven track record

Transmission

Cost Control

Gas System Upgrades

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