Slide 1: Eversource Energy Q2 2024 Earnings Report
EVERSOURCE ENERGY Q2 2024 EARNINGS REPORT EVERSOURCE ENERGY Q2 2024 EARNINGS REPORT AUGUST 1, 2024 CUSTOMER COMMUNITY EMPLOYEE FINANCIAL CLEAN ENERGY RELIABILITY
Slide 2: Safe Harbor Statement
EVERSOURCE ENERGY Q2 2024 EARNINGS REPORT 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 discussion includes financial measures that are
Slide 3: Agenda
EVERSOURCE ENERGY Q2 2024 EARNINGS REPORT Business Update Overview Electric Transmission and Distribution Investment Growth Delivering an Equitable and Affordable Clean Joe Nolan Energy Future Agenda Chairman, President & CEO Financial Update Q2 2024 Financial Results Regulatory Update F
Slide 4: Clean Energy Transition Provides Investment Growth
EVERSOURCE ENERGY Q2 2024 EARNINGS REPORT Clean Energy Transition Provides Investment Growth Cambridge Substation Project Utility-scale solar EV charging buildout Energy efficiency solutions Achieving carbon Offshore wind neutrality in our own Battery energy storage Networked geothermal interconnect
Slide 5: State GHG Reduction Goals Drive Electric Demand
EVERSOURCE ENERGY Q2 2024 EARNINGS REPORT State GHG Reduction Goals Drive Electric Demand Electrification plans result in New England electric demand more than doubling by 2050 New England winter peak demand is expected to more than triple by 2050 GHG Reduction Goals New England Carbon Emissions by
Slide 6: Electric Transmission Investment: Enabling Electrification and Access to Clean Energy Resources
EVERSOURCE ENERGY Q2 2024 EARNINGS REPORT Electric Transmission Investment: Enabling Electrification and Access to Clean Energy Resources 2024-2028 Major Drivers… …2029 and Beyond $2 Billion: Replacement of Continued Replacement of Aging Infrastructure Aging Infrastructure $1.5 Billion: Underg
Slide 7: Massachusetts Leading the Way for Enhancing Distribution Resiliency and Enabling Electrification
EVERSOURCE ENERGY Q2 2024 EARNINGS REPORT Massachusetts Leading the Way for Enhancing Distribution Resiliency and Enabling Electrification Actual and Forecast Capital Investment for Massachusetts Electric Transmission and Massachusetts Distribution System Distribution Clean Energy Investment ($1.6 B
Slide 8: AMI: Critical Step on the Journey to an Affordable Clean Energy Future
EVERSOURCE ENERGY Q2 2024 EARNINGS REPORT AMI: Critical Step on the Journey to an Affordable Clean Energy Future Day 1 Capabilities (Q3 2025) Future Capabilities (2025 +) • Near Real-Time Meter Data • Ability for Remote Disconnect & Phase 1 Future Phases • Automatic Data Collection Reconnect of Serv
Slide 9: Eversource 2023 Sustainability and Diversity, Equity and Inclusion Reports
EVERSOURCE ENERGY Q2 2024 EARNINGS REPORT Eversource 2023 Sustainability and Diversity, Equity and Inclusion Reports 2023 Sustainability Report 2023 Diversity, Equity & Inclusion Report Highlights our commitment to environmental, social and governance (ESG) priorities and Includes overview of ou
Slide 10: Second Quarter and First Half 2024 Financial Results
EVERSOURCE ENERGY Q2 2024 EARNINGS REPORT Second Quarter and First Half 2024 Financial Results 2Q 2024 2Q 2023 Change 1H 2024 1H 2023 Change Electric Transmission $0.54 $0.46 $0.08 $1.04 $0.90 $0.14 Electric Distribution 0.42 0.47 (0.05) 0.90 0.95 (0.05) Natural Gas Distribution 0.08 0.03 0.05 0.61
Slide 11: Regulatory Update
EVERSOURCE ENERGY Q1 2024 EARNINGS REPORT Regulatory Update Massachusetts 5-Year Electric Sector Modernization Plan – Final Decision expected August 2024 4 CIP Projects to Enable Distributed Generation – Approved by MA DPU on June 4, 2024 EGMA Rate Base Reset for Rates Effective November 1, 20
Slide 12: FFO/Debt Enhancement 2023 to 2025
EVERSOURCE ENERGY Q2 2024 EARNINGS REPORT FFO/Debt Enhancement 2023 to 2025 FFO/DEBT ENHANCEMENTS MAJOR DRIVERS 2023 Under Recoveries ($/Millions) + 3% to 4% 2023 Under Recovery of CT Annual Rate $400 Adjustment Mechanism ($2.6 Billion + Additional Enhancements) 2023 Other Under Recoveries $200 14%
Slide 13: 2024 Parent Debt and Equity Issuances and Maturities
EVERSOURCE ENERGY Q2 2024 EARNINGS REPORT 2024 Parent Debt and Equity Issuances and Maturities 2024 Equity Issuances 2024 Debt Issuances Company Size/Coupon Maturity Parent $350M @ 5.00% Jan 1, 2027 New Shares Parent $650M @ 5.50% Jan 1, 2034 An additional 4.2M shares were issued under the Parent
Slide 14: Proven Track Record of Earnings and Dividend Performance
EVERSOURCE ENERGY Q2 2024 EARNINGS REPORT Proven Track Record of Earnings and Dividend Performance $4.50 $4.34 -$4.67 $4.09 $3.86 $3.64 $3.45 $3.11 $3.25 $2.81 $2.96 $2.65 2014A* 2015A* 2016A 2017A 2018A 2019A* 2020A* 2021A* 2022A* 2023A* 2024E 2025E 2026E 2027E 2028E * Reflects non-GAAP results, ex
Slide 15: Appendix
EVERSOURCE ENERGY Q2 2024 EARNINGS REPORT APPENDIX 14
Slide 16: Projected Capital Expenditures for Core Businesses
EVERSOURCE ENERGY Q2 2024 EARNINGS REPORT Projected Capital Expenditures for Core Businesses $23.1 Billion 2024-2028 $5,000 $4,647 $4,687 $4,697 $4,593 $4,601 $4,485 $225 $223 $202 $4,500 $213 $234 $162 $169 $218 $234 $239 $204 $251 $4,000 $3,786 $3,541 $266 $1,044 $1,142 $1,089 $998 $1,087 $3,500 $