#1EVERSOURCE ENERGY Siebert Williams Shank Utilities Conference March 17, 2022#2EVERSOURCE ENERGY 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 and EPS of each business do not represent a direct legal interest in the assets and liabilities of such business, but rather represent a direct interest in Eversource Energy's assets and liabilities as a whole. EPS by business is a financial measure not recognized under generally accepted accounting principles (non-GAAP) that is calculated by dividing the net income or loss attributable to common shareholders of each business by the weighted average diluted Eversource Energy common shares outstanding for the period. Earnings discussions also include non-GAAP financial measures referencing 2021 earnings and EPS excluding charges at CL&P related to a settlement agreement that included credits to customers and funding of various customer assistance initiatives, and a storm performance penalty imposed on CL&P by PURA, and 2021 and 2020 earnings and EPS excluding certain acquisition and transition costs. Eversource Energy uses these non-GAAP financial measures to evaluate and provide details of earnings results by business and to more fully compare and explain 2021 and 2020 results without including these items. This information is among the primary indicators management uses as a basis for evaluating performance and planning and forecasting of future periods. Management believes the impacts of the CL&P settlement agreement, the storm performance penalty imposed on CL&P by PURA, and acquisition and transition costs are not indicative of Eversource Energy's ongoing costs and performance. Management views these charges as not directly related to the ongoing operations of the business and therefore not an indicator of baseline operating performance. Due to the nature and significance of the effect of these items on net income attributable to common shareholders and EPS, management believes that the non-GAAP presentation is a more meaningful representation of Eversource Energy's financial performance and provides additional and useful information to readers in analyzing historical and future performance of the business. These non-GAAP financial measures should not be considered as alternatives to Eversource Energy's consolidated net income attributable to common shareholders or EPS determined in accordance with GAAP as indicators of Eversource Energy's operating performance. This document includes statements concerning Eversource Energy's expectations, beliefs, plans, objectives, goals, strategies, assumptions of future events, future financial performance or growth and other statements that are not historical facts. These statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, readers can identify these forward-looking statements through the use of words or phrases such as “estimate,” “expect,” “anticipate,” "intend,” “plan,” “project,” “believe,” “forecast,” “should,” “could” and other similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results or outcomes to differ materially from those included in the forward-looking statements. Factors that may cause actual results to differ materially from those included in the forward-looking statements include, but are not limited to: cyberattacks or breaches, including those resulting in the compromise of the confidentiality of our proprietary information and the personal information of our customers; disruptions in the capital markets or other events that make our access to necessary capital more difficult or costly; the negative impacts of the novel coronavirus (COVID-19) pandemic, including any new or emerging variants, on our customers, vendors, employees, regulators, and operations; changes in economic conditions, including impact on interest rates, tax policies, and customer demand and payment ability; ability or inability to commence and complete our major strategic development projects and opportunities; acts of war or terrorism, physical attacks or grid disturbances that may damage and disrupt our electric transmission and electric, natural gas, and water distribution systems; actions or inaction of local, state and federal regulatory, public policy and taxing bodies; substandard performance of third- party suppliers and service providers; fluctuations in weather patterns, including extreme weather due to climate change; changes in business conditions, which could include disruptive technology or development of alternative energy sources related to our current or future business model; contamination of, or disruption in, our water supplies; changes in levels or timing of capital expenditures; changes in laws, regulations or regulatory policy, including compliance with environmental laws and regulations; changes in accounting standards and financial reporting regulations; actions of rating agencies; and other presently unknown or unforeseen factors. Other risk factors are detailed in Eversource Energy's reports filed with the Securities and Exchange Commission (SEC). They are updated as necessary and available on Eversource Energy's website at www.eversource.com and on the SEC's website at www.sec.gov. All such factors are difficult to predict and contain uncertainties that: may materially affect Eversource Energy's actual results, many of which are beyond our control. You should not place undue reliance on the forward-looking statements, as each speaks only as of the date on which such statement is made, and, except as required by federal securities laws, Eversource Energy undertakes no obligation to update any forward- looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. 1#3EVERSOURCE ENERGY A Look Back at The Year Operations Provided safe, reliable electric, natural gas and water service through continuing pandemic and active storm year Completed our $3.5 billion core business construction program to enhance reliability, resilience, and customer service Regulatory Reached closure on challenging regulatory proceedings in Connecticut Significant progress in grid modernization, electric vehicle, and energy storage dockets Offshore Wind Continued advancement with our three offshore wind projects: - Onshore and in-water construction of Connecticut State Pier, New London - Final approval of, and groundbreaking for, first offshore wind project - South Fork Wind Other Clean Energy Initiatives Significant progress in pursuit of 2030 carbon neutrality target New, aggressive 3-year Energy Efficiency/Electrification Plan in Massachusetts. Solar build out with potential tie to storage and microgrid 2#4Eversource's Total Shareholder Return Has Outperformed the Industry Over the Medium and Longer Term EVERSOURCE ENERGY Total Shareholder Return 2021 3-Year 5-Year 10-Year Eversource 8.2% 52.0% 90.8% 245.2% EEI 39-Company Index 17.1% 45.6% 68.6% 183.0% S&P 500 28.7% 100.4% 133.4% 362.6% Ranking in EEI Index 31st 6th 7th 10th Note: 3-year, 5-year and 10-year results are for the periods ended December 31, 2021. 3#5Dividend Growth Continues to Outperform Peers Annualized Dividend $3.00 $2.55 $2.50 $2.41 $2.27 $2.14 $2.02 $2.00 $1.50 $1.00 +$0.12 $0.50 +$0.12 +$0.13 +$0.14 +$0.14 $0.00 2018 2019 2020 2021 2022 Payout Ratios: 62% 62%* 62%* 62%* *Reflects non-GAAP results, excludes nonrecurring charges EVERSOURCE ENERGY 5% - 7% 4#6Well Performing Core Businesses Drive EPS CAGR to Upper Half of 5-7% Through 2026 6% EPS 8-Year Growth Rate $4.00- $4.17 $2.28 $2.53 $2.65 $2.81 $2.96 $3.11 $3.25 $3.45 $3.64 $3.86 Upper Half of 5 - 7% Growth Off 2021 Base 2012A 2013A* 2014A* 2015A* 2016A 2017A 2018A 2019A* 2020A* 2021A* 2022E* 2023E 2024E 2025E 2026E * Reflects non-GAAP results, excludes nonrecurring charges EVERSOURCE ENERGY 5#7Projected Capital Expenditures For Core Businesses $ In Millions $4,500 $18.1 Billion 2022-2026 EVERSOURCE ENERGY $4,000 $3,897 $3,684 $3,541 $254 $3,562 $3,494 $3,504 $3,500 $154 $224 $239 $163 $208 $203 $214 $3,053 $3,064 $144 $176 $190 $206 $3,000 $921 $239 $239 $849 $110 $127 $799 $926 $895 $2,500 $938 $453 $545 $2,000 $1,450 $1,244 $1,221 $1,469 $1,500 $1,189 $1,391 $1,372 $1,338 $1,000 $500 $1,030 $1,115 $1,118 $964 $979 $861 $834 $808 $0 2019A 2020A 2021 A 2022E ■Transmission Electric Distribution Natural Gas Distribution 2023E 2024E Water IT and Facilities 2025E 2026E 6#8- Rate Base by Core Line of Business Current and Future Note: Excludes offshore wind investments $22.4 billion* 4% 16% 44% 36% 7.1% CAGR $33.8 billion* 4% 22% 2020 Year-End Rate Base Transmission Electric Distribution 41% 33% Projected 2026 Year- End Rate Base EVERSOURCE ENERGY Natural Gas Distribution Water *Rate base estimates shown exclude CWIP, which currently totals approximately $2 billion 7#9Key Elements Inside and Outside Our New $18.1B Core Business Capital Investment Forecast EVERSOURCE ENERGY Included in Forecast Execution of updated capital investment forecast Increased investment in Boston area substations Continuation of Grid Modernization and electric vehicle charging infrastructure in MA Not Included AMI in MA or CT Grid Modernization or significant electric vehicle charging infrastructure investments in CT or NH Significant onshore transmission expansion to offshore wind projects support 8#10EVERSOURCE ENERGY Status Report - Grid Modernization and Advanced Metering Infrastructure POWER ON C12.19 00000 300 2477 24 TYPE CON 3014:1.00 Massachusetts Grid Modernization Plan (In Cap-Ex Forecast) Five-Year Plan - capital investment of nearly $400 million for 2022-2026 Includes investments in EV infrastructure, as well as grid technologies to improve reliability and support Distributed Energy Resources integration Advanced Metering Infrastructure (Not in Cap-Ex Forecast) Implementation during 2022-2027 - capital investment of approximately $575 million Technology will provide customer, operational and environmental benefits - Goal All customers on advanced metering infrastructure by end of 2027 Timeline Decisions from DPU expected in Q2 2022 Connecticut 89 324 437 8000003 Itron Advanced Metering Infrastructure (Not in Cap-Ex Forecast) Implementation during 2022-2026 - capital investment of approximately $475 million Technology will provide customer, operational and environmental benefits Current metering technology nearing end of life Goal All customers on advanced metering - infrastructure by end of 2025 Timeline PURA has not provided a schedule for this docket at this time 9#11Status of State and Federal Regulatory Reviews Electric Transmission (Federal Energy Regulatory Commission) 41% of 2021 earnings Pending FERC decision on New England transmission ROEs dating back to 2011 in 4 open cases - EVERSOURCE ENERGY Earnings currently reflect base ROE of 10.57% with a maximum ROE for any single project of 11.74% FERC is expected to decide on future qualifications for RTO and other Incentive Adders Electric Distribution (CT PURA, MA DPU, NHPUC) 42% of 2021 earnings ☐ CL&P: Settlement approved in October 2021 - - No base rate change can occur before at least January 1, 2024 Authorized capital structure (53% common equity) and ROE (9.25%) remain in place Certain reconciling mechanisms continue to operate such as revenue decoupling, electric system improvement, and energy efficiency NSTAR Electric: Filed rate case review on January 14, 2022, expect to have new rates effective January 2023 PSNH: Operating under rate settlement that took effect in January 2021 Natural Gas Distribution (CT PURA, MA DPU) 15% of 2021 earnings NSTAR Gas and Eversource Gas of MA operating under 10-year and 8-year rate plans, respectively Yankee Gas prior rate case occurred in 2018, so per statute we expect to file in late 2022 or 2023 Aquarion CT: (CT PURA) 3% of 2021 earnings Operating under rate plan approved in 2013; Settlement pending with potential reset of WICA rate 110#12Key Elements of NSTAR Electric Rate Review EVERSOURCE ENERGY Key Revenue Requirement Factors December 31, 2020 Filing Date: January 14, 2022 Test Year (12 Months Ended) Revenue Deficiency $89M Decision Date: December 1, 2022 Average Bill Impact (residential customer) 5.7% 2021 Rate Base Roll-In 1/1/23 $46M Rates Effective: January 1, 2023 2022 Rate Base Roll-In 1/1/24 $47M Return on Equity (Requested) Capital Structure 10.5% 53.8% Equity Address the Distribution Revenue Deficiency ($89M) - Relates to capital additions, enterprise IT and Storm Fund contribution Extension of Performance-Based Ratemaking (PBR) - 10-year plan, with enabling rate base roll-in(s) AMI Tariff Approval - Approval of specific tariff is next step to execute AMI capital investment plan of $575M 11#13Our First Joint Project South Fork Wind Now in Construction Fork Ground Breaking 022 South F Wind ew Yo EW South F Wind South Fork Wind | Powered by Ørsted & Eversource New York's first offshore wind farm Consisting of 12 wind turbines EVERSOURCE ENERGY Received final approval in January 2022 from the U.S. Department of Interior to start construction Land-based construction commenced on Long Island Installation of underground duct bank and work on the interconnection facility will occur first - Offshore substation, foundation and turbine installation will occur in 2023 Hundreds of jobs created in New York and the Northeast region Expansion of U.S. offshore wind supply chain 12#14EVERSOURCE ENERGY Revolution Wind and Sunrise Wind Now Well Into Siting Process Size Construction Operation Plan Filing with BOEM State Permit Current Commercial Ops Date Price as of first day of commercial operation South Fork Wind 130 MW Final siting approvals received January 2022 NY State Article VII Permit Approved March 18, 2021 Late 2023 ~ $0.160/KWH for 90 MW ~ $0.086/KWH for 40 MW (avg. annual escalator: 2%) Revolution Wind 704 MW Filed March 2020; review schedule was received on April 30, 2021 as part of Notice of Intent; Final approvals expected in July 2023 Filed December 2020, evidentiary hearings began on October 12, 2021 In 2025 $0.09843/KWH for RI (no escalator) $0.09843/KWH for CT for 200 MW (no escalator) $0.0995/KWH for CT for 104 MW (no escalator) Sunrise Wind 924 MW Filed September 2020; Review schedule received August 31, 2021 as part of Notice of Intent; Final approvals expected in November 2023 Filed December 2020, settlement discussions began in September 2021 Late 2025 $0.11037/KWH (no escalator) Term 20 years Status of Contracts 130 MW for NY Interconnection 20 years 25 years 400 MW for RI approved 304 MW for CT approved Contract signed with NYSERDA in October 2019 East Hampton, NY (LI) Davisville, RI Brookhaven, NY (LI) 13#15Onshoring of Domestic Supply Chain Accelerating Provider Equipment/Service Procured U.S. Manufacturing/Assembly EVERSOURCE ENERGY Project Location American Offshore Services Crew transfer vessels Rhode Island All projects and WindServe Marine Dominion Energy Wind turbine installation vessel Texas Revolution Wind and Sunrise Wind Edison Chouest Service operation vessel Louisiana and Florida All projects Haugland Onshore civil and electrical work New York South Fork Wind Kiewit Offshore Services Offshore substation Texas South Fork Wind Nexans Subsea electrical cables South Carolina All projects Riggs Distler Foundation component fabrication New York Sunrise Wind Siemens Energy/ Aker Solutions High-voltage direct current system New York Port Projects State Pier at Port of New London, ProvPort, Port Jefferson, and Port of Coeymans Connecticut, New York, and Rhode Island Sunrise Wind State Pier and Port Jefferson - All projects Port of Coeymans - Sunrise Wind ProvPort South Fork Wind and - Revolution Wind 14#16Progress on Connecticut State Pier, New London EVERSOURCE ENERGY NEW JERSEY NEW YORK CONNECTICUT MASSACHUSETTS RHODE GLAND New London 60-65 miles to nearest turbines Eversource & Ørsted Area Work is underway to transform Connecticut State Pier (New London) into a heavy lift, deep water port 15#17EVERSOURCE ENERGY Industry Leading Carbon Neutrality Goal Helps the Region Meet Its Targets Eversource Targets Carbon Neutral By 2030 Reducing electric line loss ■ Lowering methane emissions from gas distribution system Fleet replacement ■ Facility lighting and HVAC upgrades ■ Replacement of SF6 in substation equipment Regional Targets 80+% GHG Reductions By 2050 Offshore wind development ■ Utility-owned solar Industry-leading energy efficiency programs Reducing high dependence on high- emitting oil through ZEV infrastructure buildout, heating conversions ■ Enabling third-party renewable buildout 16#18EVERSOURCE ENERGY Gas Operations Launches Pilot Geothermal Project Innovative way to provide clean and sustainable heating and cooling for customers via a geothermal network for residential and commercial customers Explore if geothermal network can be used instead of, or in combination with, traditional energy sources ■ Support communities' achievement of net zero emissions goals through rate-based projects subject to regulatory approval Project Timeline End of 2021 Mid-to-late 2022- Three years Eversource selected the pilot site Construction is scheduled to begin Timing of construction and installation activities will be site-specific. (Approximately one year). The pilot program duration 17#19Eversource's Progress Toward Carbon Neutrality MT CO2e 900,000 -17% 828,107 800,000 707,015 685,331 700,000 600,000 500,000 400,000 300,000 200,000 100,000 2018 2019 Line Loss Methane Facilities 2020 Fleet SF6 EVERSOURCE ENERGY Eversource emissions have greatly declined through divestiture of fossil fuel generation over the past several decades We have seen a 17% decline in Scope 1 and 2 emissions across our operations since 2018 Our 2020 carbon footprint was verified by a third party Aggressive efforts are being undertaken to reach carbon neutrality by 2030 18#20Most Effective Method of Reducing Emissions: Improve Energy Efficiency 11 EVERSOURCE ENERGY 29 48 3 16 29 26 45 * 5 LO 16 51 13 224 36 19 21 41 37 22 15 37 11 48 20 47 33 25 33 6 www * District of Columbia 29 27 3 23 37 8 18 24 33 40 48 44 42 29 45 2 States to watch 27 43 Ranks 1-10 7 Ranks 11-20 Ranks 21-30 4 Ranks 31-40 Ranks 41-51 Eversource MA, #1 Most Energy Efficient Utility in the United States According to ACEEE, in their second edition of the Utility Energy Efficiency Scorecard Retail Customer Count Up 3.2% Since 2015, While KWH Sales Down 8.1% Note: The lower the number...the more effective the Energy Efficiency Programs Source: American Council for an Energy-Efficient Economy 2020 Scorecard 19#21A Value Proposition That Delivers Results for Investors EVERSOURCE ENERGY Keys to Our Success: 1. Exceed industry EPS and dividend growth 2. Control O&M spending 3. Maintain strong financial condition 4. Deliver top-tier service quality and reliability 5. Manage a robust investment program focused on safety, reliability and customer service 6. Pursue clean energy solutions for the region 7. Address environmental, social and governance strengths Results Delivered: Nine-year average recurring EPS and dividend growth of 6% and 6.9%, respectively, through 2021. Growth driven by robust regulated Cap Ex program and effective cost control Nine-year average O&M reduction 0.5%/year through 2021 (~$80M) Top-tier credit rating Reliability metrics top decile vs. peers Capital expenditures of $18.1 billion for 2022 -2026 for core businesses ensure a safe and reliable delivery system for our 4.4 million customers Progress on offshore wind, energy efficiency, solar, storage, EV infrastructure Achieving top-tier industry ratings from key sustainability raters 20 20