Slide 1: Annual Meeting of Shareholders May 1, 2024
Exhibit 99.1 Annual Meeting of Shareholders May 1, 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements Safe harbor provision This presentation contains “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities COMPANY INFORMATION Litigation Reform Act of 1995. These forward-looking statements include statements regarding Unitil Corpo
Slide 3: About Unitil
About Unitil Pure play New England utility creating long-term sustainable value Local distributor of electricity and natural gas in attractive service areas along the New Hampshire and Maine Seacoast • Growing customer base supported by strong regional economic growth • Significant price advantage o
Slide 4: Consistency of Execution
Consistency of Execution Strong operational and financial results; continued execution of key strategies Record Financial Results ü Achieved Record Results • 2023 Net Income of $45.2 million or $2.82 per share – $0.23 per share increase compared to 2022; 8.9% year-over-year EPS growth • GAAP ROE of
Slide 5: Exceptional Customer Service
Exceptional Customer Service Customer satisfaction remains well above regional and national peers Northeast Utilities st 1 Customer Satisfaction Ranking OUT OF 8 87% CUSTOMER Eastern Utilities SATISFACTION rd 2023 RESULTS 3 Customer Satisfaction Ranking OUT OF 23 Exceeded National, Eastern & Northea
Slide 6: Operational Excellence
Operational Excellence Consecutive years of outstanding electric reliability and gas emergency response Top Quartile Electric Reliability 40% improvement in average service reliability over 10 years Best-in-Class Gas Emergency Response Responded to >91% of emergency Electric Reliability Gas Emergenc
Slide 7: Engaged Employees
Engaged Employees Unitil has established itself as a highly desirable “workplace of choice” ü High Levels of Pride and Engagement ü “Unitil University” Development Programs ü Outstanding Benefits ü Flexible Workplace ü Diversity, Equity & Inclusion ü Robust Succession Planning PAGE 7
Slide 8: Corporate Sustainability and Responsibility
Corporate Sustainability and Responsibility Advancing the clean energy transition and ensuring the long-term sustainability of our company Energy and the Environment We are committed to environmental stewardship and minimizing our impact on the environment while supporting the transition to a clean
Slide 9: Significant Investment Opportunities
Significant Investment Opportunities The energy transition offers robust long-term investment opportunities (1) (2) Actual and Forecast Capital Investment Consolidated Rate Base $1,200 Five-year capital investment of approximately $910 million 7.3% CAGR ~47% higher than prior five years $1,000 $200
Slide 10: Balance Sheet Strength and Capitalization
Balance Sheet Strength and Capitalization (3) Maintaining a strong balance remains a top objective Long-Term Financing Sources Responsible Financing Plan Equity, 13% • Capital investments funded principally by Cash Flow From Operations • Limited refinancing risk and no variable rate long-term debt C
Slide 11: Sustainable Dividend Growth
Sustainable Dividend Growth A sustainable growing dividend is a key element of Unitil’s investor proposition Historical Dividend and Payout Ratio $1.75 100% Long-term dividend growth should approximate long-term earnings growth 88% 77% $1.65 74% 80% 73% 70% 70% 65% 65% 64% 60% 57% Payout Ratio 60% $
Slide 12: Recapping Financial Performance Over the Past Decade
Recapping Financial Performance Over the Past Decade Historical earnings growth at mid-point of long-term guidance Performance Over Last 10 Years Historical Earnings per Share $3.00 2.1x Net Income 7.7% Net Income Compared to 2013 Annual Growth $2.50 $2.00 1.8x EPS 6.0% Earnings Per Share Compared t
Slide 13: Unitil's Value Proposition
Unitil’s Value Proposition Attractive risk-adjusted long-term total shareholder return (1) 8%-10% Expected Annual Total Shareholder Return 5%-7% 6.5%-8.5% $910 million 55%-65% 15%-19% Cost Net Zero Expected Annual Expected Annual Utility Planned Electric and Gas TargetedAnnual Long-term FFO/ Control
Slide 14: Strategic Update
STRATEGIC UPDATE Supporting the transition to a clean energy future
Slide 15: National Context – Carbon Intensity vs Affordability
National Context – Carbon Intensity vs Affordability Per capita energy-related carbon dioxide emissions and average electricity costs by state CO2 Emissions (total) Average Retail Electricity Price Legend MMT % of U.S. Total Cents/kWh % of U.S. Avg State Carbon Emissions Per Person (metric tons) Mas
Slide 16: Policy Environment
Policy Environment Unitil operates in New England states with progressive climate goals Climate Goals and Public Policy Considerations Average Residential Electricity Prices 2030 – 45% GHG reduction Statutory goals. Climate action plans developed by 2045 – Carbon neutral the Maine Climate Council; e
Slide 17: Natural Gas is Essential to Industry
Natural Gas is Essential to Industry Commercial and industrial users comprise the majority of natural gas volumes Maine and New Hampshire Volumes Maine and New Hampshire Meters Hydro Wind Commercial Residential Commercial Residential & Industrial 17% & Industrial 24% Commercial Commercial Residentia
Slide 18: Electric Grid Impacts Are Formidable
Electric Grid Impacts Are Formidable Gas pipelines deliver far more energy than electric infrastructure Energy delivered by natural gas Gas vs Electric Delivered Energy (NH & ME) in comparison to electricity 3,500,000 Annually 3,000,000 5X Northern Utilities (Gas) Nuclear Hydro Wind 2,500,000 Cold W
Slide 19: Resource Adequacy is a Major Concern
Resource Adequacy is a Major Concern Energy security risks and wholesale price volatility are most acute in the winter Infrastructure Constraints New England Wholesale Electricity Prices “During the last few years, inadequate infrastructure to transport natural gas has at times affected the ability
Slide 20: Electricity is Not Carbon-Free
Electricity is Not Carbon-Free New England’s electricity has about the same carbon intensity as fuel oil Carbon Emissions Per MMBTU ISO-NE Annual Average Generator Emission Rates 1200 180 160 1000 Hydro Wind Nuclear 140 31% reduction since 2001 Wind 800 Wood 120 Wood 100 600 Renewables Solar 80 400
Slide 21: Maintaining Affordability is Important
Maintaining Affordability is Important Heating with natural gas is more affordable than heating with electricity Annual Heating Cost Heating System Cost of Operation $40 $4,500 $4,000 Electric $35 Nuclear Hydro Power Wind $3,500 Transportation $30 $3,000 Petroleum Products Wood (1) Electric Heat Pum
Slide 22: Advanced Technologies Offer a Better Way
Advanced Technologies Offer a Better Way Hybrid heating systems and gas heat pumps can lower emissions, improve affordability and reduce electric system impacts Typical Hybrid Heating System Design 0 0 Electric Air Source Heat Pump Above 30 F High-Efficiency Gas Furnace Below 30 F Displaces up to 60
Slide 23: Unitil Corporation 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 24: Appendix
Appendix 86,600 Natural Gas Customers PAGE 24
Slide 25: Maine Natural Gas is Cleaner and More Affordable Than Other Fuels
Maine Natural Gas is Cleaner and More Affordable Than Other Fuels Heating oil and propane are more expensive and carbon intensive than natural gas 2.8% 8.1% 8.6% 10.6% Fuels Used for Home Heating 13.9% 56.1% Maine has the highest percentage of homes heated with fuel oil in the nation New Hampshire 2
Slide 26: New England Resource Adequacy
New England Resource Adequacy Insufficient pipeline capacity causes wholesale prices to skyrocket during periods of peak demand 2023 New England Generation Mix Winter Price Volatility Renewables 12.2% Wood Nuclear 22.9% Natural Gas 54.9% Refuse Hydro 9.5% Annual energy supply excluding net interchan
Slide 27: Well Positioned in Massachusetts
Well Positioned in Massachusetts Significant gas and electric overlap; residential electrification targets about one third of total gas volumes Massachusetts Customer Mix Massachusetts Gas Volumes Gas Only Commercial Hydro 7% & Industrial Wind Commercial Residential & Industrial Residential 35% Elec