Unitil Corporation · NYSE:UTL
Unitil — Shareholder Meeting (April 2026)
19 slides from Unitil's shareholder meeting presentation, Apr 29, 2026
Slide 1: Annual Meeting of Shareholders
Annual Meeting of Shareholders April 29, 2026
Slide 2: Forward-Looking Statements and Use of Non-GAAP Measures
Forward-Looking Statements and Use of Non-GAAP Measures This presentation contains “forward-looking statements” including 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 th
Slide 3: About Unitil
About Unitil Pure play regulated utility creating long-term sustainable value Local distributor of electricity and natural gas in Maine, Massachusetts and New Hampshire with attractive service areas • • Fully regulated electric and gas operations 110,100 Growing customer base supported by strong reg
Slide 4: Turning Promises into Progress
Turning Promises into Progress Delivering strong financial results through superior operational performance ✓ Financial and Strategic Execution ✓ Operational and Customer Excellence ✓ Achieved record earnings of $50.2 ✓ Ranked #1 in the Northeast for million and adjusted EPS(1) of $3.16 customer tru
Slide 5: Elevating the Customer Experience
Elevating the Customer Experience Driving satisfaction and loyalty through superior service Top Quartile Electric Reliability Four consecutive years of top quartile electric service reliability Best-in-Class Gas Emergency Response Ranked among the top companies in the nation for gas emergency respon
Slide 6: Sustainable Value Creation
Sustainable Value Creation Securing our future through responsible action Kingston Solar Array Governance Board Qualifications and Expertise 2025 NH Energy Week "Project of the Year" Accounting CEO/C-Suite ESG/Sustainability Our solar facility in Kingston, New Hampshire is Finance Governance the lar
Slide 7: Accretive Expansion
Accretive Expansion Accelerating growth through strategic acquisitions Enabling Value Creation • Unitil now serves approximately 90% of natural gas customers in Maine • Attractive service areas in major population centers • Strong customer growth of 4% - 5% due to price advantage of natural gas and
Slide 8: Lowering Energy Costs
Lowering Energy Costs Natural gas is the smarter, cheaper alternative for home heating Residential Fuel Price per MMBtu $100 The Natural Gas Advantage $90 $80 • Natural gas is the lowest-cost heating fuel in Maine, Massachusetts $ per MMBtu $70 $60 and New Hampshire $50 $40 • Utility management of g
Slide 9: Our Competitive Advantage
Our Competitive Advantage Maine Converting homes to natural gas lowers energy costs and reduces emissions 2.2% 13.5% 8.3% 9.7% 16.0% 50.3% Highest percentage of homes heated with fuel oil in the nation New Hampshire 3.3% 11.9% 22.2% 5.2% 20.4% 37.0% Source: Washington Post, March 6, 2023 Second high
Slide 10: Aquarion Water Acquisition
Aquarion Water Acquisition Complementary utility operations add scale and diversification supporting long-term growth ✓ Opportunity to acquire high quality water systems at an attractive Expands valuation Utility Platform ✓ Complementary to existing utility operations and service company; opportunit
Slide 11: Accelerating Growth
Accelerating Growth Recent acquisitions are expected to be earnings accretive over the long-term Long-Term Guidance Accelerating Rate Base Growth(2) $2.5 EPS Growth 5.0% - 7.0% Rate Base Growth 6.5% - 8.5% $2.0 (1) Total Shareholder Return 8.0% - 10.0% $1.5 Billions Acquisitions will accelerate long
Slide 12: Strategic Infrastructure Investment
Strategic Infrastructure Investment Accelerating infrastructure modernization and expansion Actual and Forecast Capital Investment(1) Consolidated Rate Base(2)(3) $300 1,400 Five-year capital investment of approximately $1.2 billion 8.1% CAGR 1,200 $ in millions $ in millions ~20% increase over prev
Slide 13: Financial Strength & Sustainability
Financial Strength & Sustainability Maintaining a strong balance sheet is a strategic priority Prioritizing Balance Sheet Stability Long-Term Financing Sources • Cash Flow from Operations funds the majority of capital investment • Balanced mix of common equity and long-term debt offers Equity, 12% f
Slide 14: Delivering on Long-Term Earnings Guidance
Delivering on Long-Term Earnings Guidance Historical earnings growth at long-term guidance midpoint Historical Earnings per Share(1)(2) Performance Over Last 12 Years (2) $3.50 6.0% Annual Growth $3.00 Earnings Per Share $2.50 7.3% Annual Growth $2.00 Net Income $3.16 $1.50 $2.97 $2.82 $2.59 $2.31 $
Slide 15: Compelling Value Proposition
Compelling Value Proposition Driving sustainable growth through a disciplined, regulated strategy 5% - 7% 55% - 65% 8% - 10% Annual EPS Growth Dividend Payout Ratio Annual Total Return(1) Long Term Guidance Target Range Price Appreciation Plus Dividend $1.2 Billion 6.5% - 8.5% 16% - 18% 5-Year Utili
Slide 16: Thank You!
Unitil Corporation Thank You! 6 Liberty Lane West Hampton, NH 03842-1720 1-888-301-7700 www.unitil.com NYSE Ticker: UTL Investor Relations unitil.com/investors 800-999-6501 InvestorRelations@unitil.com
Slide 17: Appendix
Appendix 86,600 Natural Gas Customers SLIDE 17
Slide 18: GAAP Reconciliation of Adjusted Gross Margin
GAAP Reconciliation of Adjusted Gross Margin Twelve months ended December 31, 2025 Twelve Months Ended December 31, 2025 ($ millions) Electric Gas Other Total Total Operating Revenue $ 236.4 $ 299.6 $ - $ 536.0 Less: Cost of Sales (121.8) (100.5) - (222.3) Less: Depreciation and Amortization (31.9)
Slide 19: GAAP Reconciliation of Adjusted Earnings
GAAP Reconciliation of Adjusted Earnings Twelve months ended December 31, 2025 (Millions, except per share data) Twelve Months Ended December 31, 2025 Amount Per Share GAAP Net Income $ 50.2 $ 2.97 Transaction Costs 3.1 0.19 Adjusted Net Income $ 53.3 $ 3.16 Twelve Months Ended December 31, 2024 Amo