Slide 1: Investor Call
EXHIBIT 99.3 Investor Call February 5, 2016 EVERSSURCE ENERGY
Slide 2: Safe Harbor
Safe Harbor All per share amounts in 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 abilities allocated t
Slide 3: Agenda
INV Agenda OR CALL Tom May = Shareholder Value Chairman, President & CEO . Regional Leadership Lee Olivier EVP Enterprise Strategy & ® Northern Pass Business Development ™ Access Northeast ™ Clean Energy Connect i Jim Judge = 2015 Performance Executive Vice President & CFO = Regulatory Update = Fina
Slide 4: 2015 Was A Very Productive Year For Eversource
INV OR CALL 2015 Was A Very Productive Year For Eversource (* Record electric reliability d For Customers + Record natural gas heating growth \: Stable delivery rates ) f- >) + Progress on addressing critical infrastructure challenges For the Region X S (C . + Attractive returns and dividend growth
Slide 5: We've Delivered Top-Tier Shareholder Returns
INVE We’ve Delivered Top-Tier Shareholder Returns OR CALL ES outperformed the Philadelphia Utility Index over the 1, 3, 5 and 10 year periods Total Shareholder Return Philadelphia Utility Index 6.3% 33.5% 57.6% 89.1% S&P 500 1.4% 52.6% 80.8% 105.7% An Integral Part of our Total Return is the Dividen
Slide 6: Regional Leadership: Northern Pass, Clean Energy Connect, Access Northeast
=~ » Northem Pass EV E RS= U RC E Clean Energy Connect Cvrree Access Northeast $500 million/year in programs Natural Gas Conversions EVERSSURCE
Slide 7: Lee Olivier
Lee Olivier EVP Enterprise Energy Strategy & Business Development EVERSSURCE ENERGY
Slide 8: Transmission — Northern Pass Update
INVESTOR CALL Transmission — Northern Pass Update + 1,090 MW of clean energy + $1.6 billion HVDC line, terminal and AC facilities + Approximately 192 miles of new transmission using HVDC technology with AC/DC converters in Quebec and NH Leaps + DOE draft Environmental Impact Statement issued July 21
Slide 9: Northern Pass Timeline
Northern Pass Timeline July 21, 2015 October 19,2015 | ( December 2015 Late 2016/ First Half 2019 Dept. of Energy Northern Pass NHSEC Accepted Early 2017 Issued Draft Filed Application Application : : Environmental with New Hampshi ane Permits Received Impact SEC . si State Review % : Process Began
Slide 10: Transmission - Clean Energy Connect
INV Transmission - Clean Energy Connect OR CALL “L9 Bid includes transmission, wind and hydro generation Eversource investment is the Massachusetts portion of a 25-mile, 345 kV transmission line 600 MW capacity Co-developing with experienced renewable generation developers Construction expected 2018
Slide 11: Three-State Clean Energy RFP Timeline
Three-State Clean Energy RFP Timeline Action Item Date Proposals Submitted January 28, 2016 Selection of Bidders April 26, 2016 — July 26, 2016 EDCs Execute Contracts June 23, 2016 — September 22, 2016 Submit Contracts for Regulatory Approval July 26, 2016 — October 25, 2016 Regulatory Approval 2016
Slide 12: Access Northeast - Long-Term Solution to New England Natural Gas Supply
INVESTOR CALL Access Northeast - Designed to Provide a Long-Term Solution to Challenge of New England Natural Gas Supply w y * Pa Co-developed by Eversource Energy — 40%, ¢ Spectra Energy — 40%, National Grid -— 20% = Innovative, cost effective & environmentally Maritimes & Northeast responsible app
Slide 13: New England States Addressing Natural Gas Capacity Issues
5 of 6 New England States Addressing Natural Gas Capacity Issues Electric Distribution Co. (EDC) Purchase of Natural Gas Pipeline Capacity Public Act 15-107 enacted June 22, 2015. RFPs under development and allows for CT | procurement of up to 375 mmef/day of natural gas infrastructure. State energy
Slide 14: Jim Judge
Jim Judge Executive Vice President & CFO EVERSSURCE ENERGY
Slide 15: What I'll Cover...
What I'll Cover... ™ Financial and operational results = Financial outlook ™ Regulatory developments ™ Delivering on commitments EVERSSURCE ENERG
Slide 16: 2015 Results
2015 Results FullYear Full Year Q42015 @Q42014 Change 2015 2014 Change $0.28 $0.35 ($0.07) $1.59 $1.45 $0.14 $0.25 $0.28 ($0.03) $0.96 $0.93 $0.03 $0.05 $0.09 ($0.04) $0.23 $0.23 - $0.02 $0.00 $0.02 $0.03 $0.04 = ($0.01) $0.60 $0.72 ($0.12) $2.81 $2.65 $0.16 ($0.03) ($0.03) a ($0.05) ($0.07) $0.02 $
Slide 17: Operating Performance Among the Best in Industry
INV Operating Performance Among the Best in Industry OR CALL Overall system reliability in 2015 was the “Best Ever” Reliability Performance Months Between Interruptions 15.4 epn 14.4 2011 2012 2013 2014 2015 1st quartile of industry peers | Restoration Performance Avg. Restoration Speed in Minutes
Slide 18: 2016 Guidance
INVESTOR CALL 2016 Guidance e $2.90- $3.05 Key Drivers Compared to 2015 + Transmission rate base growth + Natural gas customer and infrastructure growth + NSTAR Gas rate increase + Lower O&M + Depreciation and property taxes + Interest costs EVERSSURCE ENER
Slide 19: Long-Term EPS Guidance
20128 «-2013A.-—S«2014A=«2015A Ss 2016E_ «= 2017E._«=— 2018 = 2019E. Term Guidance: Positive Negative os sd rehialoae bane siechic arid > Increasing depreciation & een Se growth property taxes NPT completed 2019 > O&M reductions of 2%-3% » Rising interest costs - Access Northeast major peryear capit
Slide 20: Capital Investment Forecast
ions In Mil Forecast $3.9 Billion A i $1.5B Clean Energy Connect, other new initiatives Greater Boston Projects $425M Reraniy Popes EVERSSURCE ENERGY Ml of other
Slide 21: Projected Capital Expenditures
INVESTOR CALL Projected Capital Expenditures Projected Capital Expenditures* Estimated ES Access Northeast 2016-2019 Investments $2,800 $500 $2,400 400, $A — $2,000 $1,600 300 2 $1,200 eS S 200 | $800 $100 + $400 $0 $0 205A 2016E «2017 2018E «2019 2015-2017E 2018E 20196 [Transmission [{Distributiona
Slide 22: Higher Earnings from Transmission
Higher Earnings from Transmission Becominga Growing Share of Rate Base $18.3 billion* Note: Rate Base Excludes Access Northeast and Clean Energy Connect $14.7 billion $2.5 Billion Increase in Transmission Rate Base Estimated 2015 Year-End Rate Base Projected 2019 Rate Base Wl ElectricTransmission Ml
Slide 23: Initiatives to Support Growth Beyond 2019
Initiatives to Support Growth Beyond 2019 Investment Status Amount Time Period FF Initial pipeline AccessNortheast FERC pre fling started | $1 2pillion (ES share) 2018;LNG on November3 afterward Clean Energy Connect oo asa alls 5) 2018-2020 Regional initiatives to move additional clean power to In d
Slide 24: Customer Growth Has Picked Up for Natural Gas Business
INV Customer Growth Has Picked Up for Eversource’s Natural Gas Business R CALL Natural gas heating customer count rising by 2%-3% per year in forecast period (Conversions and new construction) 18,000 16,000 14,000 sR 8 8 8.38 Actual Customer Additions an alll 2009 2010 2011 2012 2013 2014 2015 «= 20
Slide 25: Pending Regulatory Dockets
INVESTOR CALL Pending Regulatory Dockets New Hampshire Generation Divestiture Federal Energy Regulatory Commission FERC ROE Complaints = Initial settlement filed in June 2015 «= Settlement with staff filed in January 2016 = Decision expected in March 2016 = PSNH to recover generation investment thro
Slide 26: Rate Case Activity
INV Rate Case Activity R CALL Jurisdiction Company Commentary NSTAR Electric Base rates frozenthrough 12/31/15 WMECO Base rate cases filed in 2017 Massachusetts NSTAR Gas $15.8M base rate increase effective 1/1/16 CL&P Next case: 2" half of 2017, effective 12/1/17 Connecticut Yankee Gas Need to file
Slide 27: ES Has the Highest Credit Rating in Utility Industry
INVESTOR CALL ES Has the Highest Credit Rating in Utility Industry 2015 Rating Agency Actions > S&P raised ES, all subsidiary corporate credit ratings from “A-” to “A” > Fitch revised CL&P PSNH, WMECO outlooks from “Stable” to “Positive” > Moody's revised PSNH, WMECO outlooks from “Stable” to “Posit
Slide 28: Current $17.5 Billion Market Cap Nearly Double Pre-Merger
INVESTOR CALL Current $17.5 Billion Market Cap Nearly Double Pre- Merger — Creating $8 Billion in Shareholder Value | Stock Price Performance Since Merger Announced 88% S&P 500 +73.8% 12% ES +66.4% 56% 40% 2% UTY +27.6% 8% 8% 10/15/10 12/34/15 EVERSSURC!
Slide 29: Delivered on Commitments
INVESTOR CALL Delivered on Commitments Our Commitments: Results Delivered: 1. Exceed industry EPS & Dividend Three-year average EPS and dividend growth of ff growth 7.2% and 8.2%, respectively 2. Reduce spending — Target 3-4%/yr. Three year average O&M reduction over 5% Ji 3. Maintain strong financi
Slide 30: Appendix
INVESTOR CALL APPENDIX EVERSSURCE
Slide 31: Projected Distribution/Generation Capital Expenditures
INV OR CALL Projected Distribution/Generation Capital Expenditures $1,400 $1,196 $1,197 $1,200 $1,029 $1,000 $800 $ in Millions $600 $400 $200 $0 2014A 2015A 2016E 2017E 2018E 2019E ™ Natural Gas Distribution © Generation © Electric Distribution
Slide 32: Projected Transmission Capital Expenditures
INVESTOR CALL $ in Millions Projected Transmission Capital Expenditures* $1,400 $1,258 $1,149 $911 $807 2016E 2017E 2018E 2019E = WMECO = NPT 2014A 2015A =CL&P =NSTAR Electric = PSNH “Excludes Clean Energy Connect
Slide 33: Electric transmission accounts for more than 50% of EPS growth through 2019
oO Electric transmission accounts for more than 50% of EPS growth through 2019 »| 2015 - 2019 10.2% CAGR $9,000 $8,000 $7,000 $6,000 $4,917 $5,000 $ in Millions $4,000 $3,000 $2,000 -— — i $2,402 $2,407 $251 $2,600 $2,718 $2,703 $1,000 20144 2015E 2016E 2017E 2018E 2019E clar MNSTAR Electric = wMeco
Slide 34: Progress on Major Massachusetts Transmission Reliability Projects
INVESTOR CALL Progress on Major Massachusetts Transmission Reliability Projects * 12 projects in western Massachusetts * 7 projects are complete, remaining 5 have started the construction phase « Siting approval receivedin July 2015 + Projected completion: 2017 Greater Boston West Springfield GIS (W
Slide 35: Greater Hartford Central Connecticut Projects
Greater Hartford Central C: (GHCC) + 27 projects in five geographic subareas - Greater Hartford, Manchester, Southington, Middletown and Northwest Connecticut + 5 projects completed and in-service, 2 under construction, 6 in siting and 14 in pre-siting + Projected completion: 2018 + Total projected
Slide 36: New Hampshire Transmission Projects
NewHampshire cma New 12.6mi 115-kV line that is built overhead, underground and undersea (Little Bay) Siting application expected to be filed with the NH Siting Evaluation Committee (SEC) February 2016 Projected completion: 2018 projected investment: $74 million + Related to Greater Boston Solutions