Eversource Energy (d/b/a) · NYSE:ES

Eversource Energy (d/b/a) — Eversource Energy — Q3 2021 Earnings Presentation

14 slides from Eversource Energy (d/b/a)'s earnings presentation, Nov 3, 2021

1. Slide 1: 2021 Third Quarter Results

   2021 Third Quarter Results November 3, 2021

2. Slide 2: Safe Harbor Statement

   Safe Harbor Statement All per-share amounts in this news release 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 liabil

3. Slide 3: Agenda

   Agenda Joe Nolan  Business Update President & CEO  Regulatory Developments  Offshore Wind Update Phil Lembo  Q3 2021 Financial Results Executive Vice President and CFO  CT Settlement  Natural Gas Prices  Grid Modernization and AMI Update 2

4. Slide 4: Eversource-Ørsted Projects Poised to Help New England and New York Meet Long-Term Goals

   Eversource-Ørsted Projects Poised to Help New England and New York Meet Long-Term Goals South Fork Wind Revolution Wind Sunrise Wind Size 130 MW 704 MW 924 MW Filed Oct 2018; FEIS issued Filed March 2020; review schedule was Construction Operation Plan Aug. 2021; Decision delayed, Filed September 20

5. Slide 5: Third Quarter and Nine Months 2021 EPS Results

   Third Quarter and Nine Months 2021 EPS Results 3Q 2021 3Q 2020 3Q Change 9M 2021 9M 2020 9M Change Electric Transmission $0.40 $0.36 $0.04 $1.20 $1.13 $0.07 Electric Distribution (Non-GAAP) 0.62 0.60 0.02 1.31 1.33 (0.02) Natural Gas Distribution (0.06) (0.04) (0.02) 0.37 0.22 0.15 Water Distributio

6. Slide 6: Well-Performing Core Businesses Drive EPS CAGR to Upper Half of 5 – 7% Through 2025

   Well-Performing Core Businesses Drive EPS CAGR to Upper Half of 5 – 7% Through 2025 Expected higher than 5%-7% as larger offshore wind projects enter service $3.81- $3.93 $2.81 $2.96 $3.11 $3.25 $3.45 $3.64 $2.28 $2.53 $2.65 2012A* 2013A* 2014A* 2015A* 2016A 2017A 2018A 2019A* 2020A* 2021E * 2022E 2

7. Slide 7: Key Elements of Approved CT Settlement

   Key Elements of Approved CT Settlement Customer Rate Benefits  Bill Credit $65M (split between December 2021 and January 2022)  Funding for Customer Assistance $10M  Eversource to withdraw appeal of the $28.4M storm performance penalty (to be credited to customers from September 2021 – August 202

8. Slide 8: Status Report - CT EV and AMI Filings

   Status Report - CT EV and AMI Filings EV  Compliance Filing submitted 10/15/21  Submitted program design documents including proposed budget and implementation plan  PURA review and approval  Draft Decision – 11/18/21  Final PURA Decision – 12/8/21  Program Launch – 1/1/22 AMI  Technology wil

9. Slide 9: Status Report - MA Grid Mod, AMI and EV Programs

   Status Report - MA Grid Mod, AMI and EV Programs Grid Mod  Advanced Distribution Management System/Communications  Monitoring & Control/Volt Var Optimization  Advanced Load Flow/Distributed Energy Management System  Four-year Plan - capital investment of nearly $200 million for 2022-2025 AMI  I

10. Slide 10: Gas LDCs Plan For and Secure Firm Capacity to Meet Customer Needs

    Gas LDCs Plan For and Secure Firm Capacity to Meet Customer Needs  LDCs have contracted for pipeline expansions to meet load growth  Algonquin Gas Transmission – “AIM” and “Atlantic Bridge”  Tennessee Gas Pipeline – “Connecticut Expansion”  Gas customers pay lower production area prices (related

11. Slide 11: Appendix

    EVERSSURCE ENERGY APPENDIX

12. Slide 12: Projected Capital Expenditures For Core Businesses

    Projected Capital Expenditures For Core Businesses $17 Billion 2021-2025 $4,000 $3,524 $3,541 $3,545 $3,500 $3,343 $217 $249 $211 $3,053 $3,064 $149 $143 $154 $194 $3,076 $3,000 $2,830 $162 $239 $239 $176 $185 $110 $127 $824 $171 $ In Millions $925 $974 $102 $937 $2,500 $453 $404 $545 $789 $2,000 $1

13. Slide 13: Key PURA Regulatory Dockets

    Key PURA Regulatory Dockets Docket Description Current Schedule Number 20-08-03/ Review of Tropical Storm Isaias 20-08- Settlement approved 10/27/21 03RE01 Interim decision issued 4/28/21; New rates subject to Annual review of multiple CL&P trackers (RAM) 21-01-03 true-up, 6/1/21; Phase II decision

14. Slide 14: U.S. Gas Production Slow to Recover

    U.S. Gas Production Slow to Recover  Pandemic drove all energy prices to 10-year lows last year  Energy production companies cut capital expenditures and weather events impacted supply which is still lagging the rapid economic recovery in 2021  US LNG exports at record levels this year with globa

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