FINANCIAL AND STRATEGIC UPDATE

Second Quarter 2021

August 3rd, 2021

Forward-Looking Statements and Use of Non-GAAP Measures

This presentation contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included in this presentation are forward-looking statements. These forward-looking statements include statements regarding Unitil Corporation's ("Unitil") financial condition, results of operations, capital expenditures, business strategy, regulatory strategy, market opportunities, and other plans and objectives. In some cases, forward-looking statements can be identified by words such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue", the negative of such terms, or other comparable terminology.

These forward-looking statements are neither promises nor guarantees, but involve risks and uncertainties that could cause the actual results to differ materially from those set forth in the forward-looking statements. Those risks and uncertainties include: the coronavirus (COVID-19) pandemic, which could adversely impact Unitil's business, financial conditions, results of operations and cash flows, including by disrupting Unitil's employees' and contractors' ability to provide ongoing services to Unitil, by reducing customer demand for electricity or natural gas, or by reducing the supply of electricity or natural gas; Unitil's regulatory and legislative environment (including laws and regulations relating to climate change, greenhouse gas emissions and other environmental matters); fluctuations in the supply of, demand for, and the prices of energy commodities and transmission capacity and Unitil's ability to recover energy commodity costs in its rates; customers' preferred energy sources; severe storms and Unitil's ability to recover storm costs in its rates; declines in the valuation of capital markets, which could require Unitil to make substantial cash contributions to cover its pension obligations, and Unitil's

ability to recover pension obligation costs in its rates; general economic conditions, which could adversely affect (i) Unitil's customers and, consequently, the demand for Unitil's distribution services, (ii) the availability of credit and liquidity resources and (iii) certain of Unitil's counterparty's obligations (including those of its insurers and lenders); Unitil's ability to obtain debt or equity financing on acceptable terms; increases in interest rates, which could increase Unitil's interest expense; restrictive covenants contained in the terms of Unitil's and its subsidiaries' indebtedness, which restrict certain aspects of Unitil's business operations; variations in weather, which could cause unanticipated changes in demand for Unitil's distribution services; long-term global climate change, which could cause unanticipated changes in customer demand or cause extreme weather events that could disrupt Unitil's electric and natural gas distribution services; cyber-attacks, acts of terrorism, acts of war, severe weather, a solar event, an electromagnetic event, a natural disaster, the age and condition of information technology assets, human error, or other factors could disrupt Unitil's operations and cause Unitil to incur

unanticipated losses and expense; outsourcing of services to third parties, which could expose Unitil to substandard quality of service delivery or substandard deliverables, which may result in missed deadlines or other timeliness issues, non-compliance (including with applicable legal requirements and industry standards) or reputational harm, which could negatively impact our results of operations; catastrophic events; numerous hazards and operating risks relating to Unitil's electric and natural gas distribution activities; Unitil's ability to retain its existing customers and attract new customers; increased competition; unforeseen or changing circumstances, which could adversely impact the reduction of company-wide greenhouse gas emissions; other presently known or unforeseen factors; and other risks detailed in Unitil's filings with the Securities and Exchange Commission, including those appearing under the caption "Risk Factors" in Unitil's Annual Report on Form 10-K for the year ended December 31, 2020.

Readers should not place undue reliance on any forward looking statements, which speak only as of the date they are made. Except as may be required by law, Unitil undertakes no obligation to update any forward-looking statements to reflect any change in Unitil's expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

This presentation contains Non-GAAP measures. The Company's management believes these measures are useful in evaluating its performance. Reconciliations of Non- GAAP financial measures to the most directly comparable GAAP financial measures can be found herein.

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About Unitil

Pure-play New England utility creating long-term sustainable value

We provide energy for life, safely and reliably delivering electricity and natural gas in New England

  • Attractive Service Territory with a Growing Customer Base
    • New customer additions in Electric and Natural Gas operations
    • Continued conversions from competing fuels
    • Service areas well positioned for continued economic growth
  • Robust Investment Opportunities in Electric and Natural Gas Distribution Assets
    • Electric Grid and Gas System Modernization
    • System Expansions
    • Investments in system resiliency
  • Strategic Regulatory Filings
    • Recently filed Multi-Year Rate applications for New Hampshire Electric and Natural Gas operations

107,077

85,574

Electric

Natural Gas

Customers

Customers

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Second Quarter Results and Strategic Rate Filings

Strong financial results and continued execution of strategic plan

Solid Quarterly and Year-to-Date Financial Results

  • Quarterly Net Income of $2.7 million or $0.18 per share
  • Year-to-DateNet Income of $21.6 million or $1.44 per share
    • $0.21 per share increase compared to 2020

Maintain Expected Long-Term EPS Growth Rate of 5% - 7%

  • 2021 EPS expected above higher end of long-term growth range relative to 2020
  • Capital Investment Plan remains on track
  • Maintain expected long-term Rate Base Growth of 6.5% - 8.5%

Net-Zero Emissions target by 2050

  • Target reflects our commitment to environmental stewardship, sustainability, and corporate responsibility
  • Committed to advancing our ESG Profile

Northern Utilities (NH) Rate Case filed on August 2, 2021

  • Requested base rate increase of $7.8 million
  • Temporary rates of $3.2 million requested for October 1st
  • Multi-yearRate Plan with Revenue Decoupling

Unitil Energy Systems Rate Case Filed on April 2, 2021

  • Requested base rate increase of $12.0 million
  • $4.5 million temporary rates became effective June 1st
  • Multi-yearRate Plan with Revenue Decoupling
  • Electric Vehicle Infrastructure Investments and Time of Use Rates

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Advancing ESG Profile and Commitment to Net-Zero Emissions

Aligning business strategies with ESG expectations of stakeholders

Sustainability Throughout the Enterprise

  • June 21, 2021 announcement to reduce Company-wide direct greenhouse gas emissions from 2019 levels by at least 50 percent by 2030; net-zero by 2050
  • Action underpins our ongoing mission and leadership in environmental stewardship
  • We will continue to work with customers, policymakers and industry leaders to reduce emissions from the energy supply delivered to customers

Accelerating Investments in Grid Modernization

  • Investing in enabling technologies to allow for a greener and more efficient power grid
  • Allow for the inflow of renewable energy generation and non-wire alternative and increase customer usage transparency

Clean Fuel Alternatives

  • Investigating Renewable Natural Gas supply alternatives

2020 Corporate

Sustainability &

Responsibility

Report

Issued in the fourth quarter of 2020

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UNITIL Corporation published this content on 03 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2021 11:22:10 UTC.