Slide 1: Investor Call July 29, 2016
Investor Call July 29, 2016 EVERSSURCE ENERGY
Slide 2: Safe Harbor
Safe Harbor Alll 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 and EPS of each business do not represent a direct legal interest in the assets and abilities alloc
Slide 3: Agenda
Investor Call Agenda Phil Lembo = Mid-Year Results EVBIGEO® Teaser = Regulatory and Legislative Update = Financing and Rating Agency Update 4 atma& Lee Olivier EVP Enterprise Strategy & = Northern Pass Business Development = Access Northeast EVERSSURC!
Slide 4: Phil Lembo
Phil Lembo Executive Vice President, Chief Financial Officer and Treasurer EVERSSURCE ENERGY
Slide 5: Second Quarter and First Half 2016 Results
Second Quarter and First Half 2016 Results Q2 2016 Q2 2015 Change First Half 2016 First Half 2015 Change $0.29 $0.25 $0.04 $0.56 $0.46 $0.10 $0.32 $0.38 ($0.06) $0.66 $0.80 ($0.14) $0.03 $0.02 $0.01 $0.19 $0.19 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.64 $0.65 ($0.01) $1.41 $1.45 ($0.04) EVERSSU
Slide 6: Progress on Major Transmission Reliability Projects
Progress on Major Transmission Reliability Projects Greater Boston Reliability Solutions + 31 projects including seven new transmission lines, new substations and substation expansion projects Greater Hartford Central Connecticut (GHCC) + First 6 of 27 projects now in service + 2under construction,
Slide 7: Recent State Regulatory Developments
Investor Call Recent State Regulatory Developments Massachusetts Solar Filing New Hampshire Generation Divestiture = 62 MW proposal filed with DPU 5/30/16 = 35 MW for NSTAR Electric = 27 MW for WMECO, = Consistent with 2016 MA solar legislation « Estimated cost of $180 million - $200 million = Decis
Slide 8: Credit Ratings
S&P: BBB+ Fitch: BBB+ S&P: A- Moody's: A3 Fitch: A S&P: A- Moody's: A2 Fitch: At S&P: A- Moody's: A3 Fitch: A S&P: A- Moody's: Baa2 Moody's: Baa2 S&P:A- Moody's: Baat Fitch: BBB+ S&P: At Moody's: A2 Fitch: At S&P: A Moody's: A2 Fitch: At S&P: At Moody's: At Fitch: At S&P: A Moody's: A2 Fitch: A
Slide 9: Lee Olivier
Lee Olivier EVP Enterprise Energy Strategy & Business Development EVERSSURCE ENERGY
Slide 10: 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 DOE draft Environmental Impact Statement issued July 21, 2015. Revise
Slide 11: Northern Pass Timeline
July 21,2015 )(October 19, 2015 Northern Pass filed application with New Hampshire Site Evaluation Committee (NHSEC) Department of Energy (DOE) issued Draft Environmental Impact Statement (EIS) Northern Pass Timeline December 18, | 2015 NHSEC accepted application State review process began September
Slide 12: Access Northeast - Designed to Provide a Long-Term Solution to Challenge of New England Natural Gas Supply
Investor Call Access Northeast - Designed to Provide a Long-Term Solution to Challenge of New England Natural Gas Supply oc Maritimes & f . Northeast Pp Project Scope: * Joint development with Eversource (40%), by AGT and M&N systems directly iy" Spectra Energy (40%) and National Grid mt) connect to
Slide 13: ISO-NE's Tale of Two Seasons
Investor Call ISO-NE’s Tale of Two Seasons ine $28.78/MWh $2.80/MMBtu Chicago City Gate) $29.31/MWh 74/MMBtu @ !SONew England /MWr @ 180 New England $26.86/MWh sz (at A $1070/MMBtU ‘Source: ISO-NE, Jan 2016 State of the GridReport EVERSSURCE ENERGY
Slide 14: Winter 2014-2015 Fossil Fuel Mix
250,000 200,000 150,000 100,000 50,000 Winter 2014-2015 Fossil Fuel Mix (mwn) wOil WCoal W Natural Gas / LNG December 2014 January 2015, February 2015 EVERS: Source: ISO-NE, Gordan vanWelie presentation, November 2015 URCE ENERGY
Slide 15: Environmental Benefits - Meaningful Emission Reductions
Investor Call Environmental Benefits - Meaningful Emission Reductions Access Northeast can reduce regional emissions by displacing coal & oil-fired power generation with cleaner natural gas generation 3.4m tons of ermesions coud be = CO, emissions A avoided/year CO, by 25% — so, by 90% this is like
Slide 16: Fast & flexible resources will be needed to balance variable output from wind and solar
= Fast & flexible resources will be needed to balance variable output from wind and solar 4,000 MW 2,400 MW 900 MW Proposed NE PV Est. NE PV NE wind NE wind thru 2014 in 2024 “The transition to greater levels of renewables will require fast and flexible resources that can ramp their output up and do
Slide 17: New England States Addressing Natural Gas Capacity Issues
Investor Call 5 of 6 New England States Addressing Natural Gas Capacity Issues CT MA Electric Distribution Co. (EDC) Purchase of Natural Gas Pipeline Capacity Order of October 2, 2015 found the DPU had authority to approve EDC natural gas supply contracts. NSTAR Electric, WMECO, Massachusetts Electr