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Eversource Energy 2021 Financial Review Eversource Massachusetts Solar Facility in Hinsdale, MA (2.75 MW)

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Eversource Energy 2021 Financial Review Eversource Massachusetts Solar Facility in Hinsdale, MA (2.75 MW) Eversource Energy 2021 Financial Review Eversource Massachusetts Solar Facility in Hinsdale, MA (2.75 MW) James J. Judge Executive Chairman of the Board Joseph R. Nolan President and Chief Executive Officer Philip J. Lembo Executive Vice President and Chief Financial Officer Werner J. Schweiger Executive Vice President and Chief Operating Officer ............................................. These materials provide updated operating and financial information for Eversource Energy consolidated and each of its operating subsidiaries and supplement the 2020 Eversource Energy annual report. Historical Financial Information Eversource Energy Consolidated (Millions of Dollars, Except Share Information) 2020** 2019 2018 2017 2016 Operating Revenues $8,904.4 $8,526.5 $8,448.2 $7,752.0 $7,639.1 Operating Income $1,988.7 $1,590.5 $1,699.9 $1,888.2 $1,841.3 Net Income Attributable to Common Shareholders: Electric Distribution $544.0 $513.3 $455.4 $497.4 $462.8 Electric Transmission (Non-GAAP)* 502.5 460.9 427.2 391.9 370.8 Natural Gas Distribution (Non-GAAP)* 135.6 96.2 93.2 74.6 77.7 Water Distribution 41.2 34.9 30.9 (1.2) N/A Eversource Parent and Other (Non-GAAP)* 14.0 8.2 26.3 25.3 31.0 Net Income Attributable to Common Shareholders (Non-GAAP)* 1,237.3 1,113.5 1,033.0 988.0 942.3 Acquisition-Related Costs (32.1) - - - - Impairment of Northern Pass Transmission - (204.4) - - - Net Income Attributable to Common Shareholders (GAAP) $1,205.2 $909.1 $1,033.0 $988.0 $942.3 Common Share Data: Diluted Earnings Per Share (GAAP) $3.55 $2.81 $3.25 $3.11 $2.96 Diluted Earnings Per Share (Non-GAAP)* $3.64 $3.45 $3.25 $3.11 $2.96 Book Value Per Share (end of year) $41.01 $38.29 $36.25 $34.98 $33.80 Weighted Average Shares Outstanding: Basic 338,836,147 321,416,086 317,370,369 317,411,097 317,650,180 Diluted 339,847,062 322,941,636 317,993,934 318,031,580 318,454,239 Dividends Declared Per Share $2.27 $2.14 $2.02 $1.90 $1.78 Market Price - High $99.42 $86.55 $70.53 $66.15 $60.44 Market Price - Low $60.69 $63.10 $52.76 $54.08 $50.01 Market Price - End of Year $86.51 $85.07 $65.04 $63.18 $55.23 Capitalization, end of period (includes current maturities) Long-Term Debt $16,179.1 $14,098.2 $13,086.1 $12,325.5 $9,603.2 Preferred Stock 155.6 155.6 155.6 155.6 155.6 Common Equity 14,063.6 12,630.0 11,486.8 11,086.2 10,711.7 Total Capitalization $30,398.3 $26,883.8 $24,728.5 $23,567.3 $20,470.5 Short-Term Debt $1,249.3 $889.1 $910.0 $1,088.1 $1,148.5 Rate Reduction Bonds $540.1 $583.3 $635.7 N/A N/A Moody's/S&P Global Ratings/Fitch Securities Ratings Eversource Senior Unsecured Debt Baa1/BBB+/BBB+ Baa1/BBB+/BBB+ Baa1/A/BBB+ Baa1/A/BBB+ Baa1/A-/BBB+ Commercial Paper P-2/A-2/F-2 P-2/A-2/F-2 P-2/A-1/F-2 P-2/A-1/F-2 P-2/A-1/F-2 Customers as of Year-End: Electric 3,241,292 3,223,951 3,202,992 3,187,126 3,167,817 Natural Gas 881,221 539,860 533,295 524,628 518,953 Water 215,977 228,523 227,632 227,098 N/A Cash Flows From Operations 2020 2019 2018 2017 Cash Flows Provided by Operating Activities $1,682.6 $2,009.6 $1,830.5 $1,996.2 * Non-GAAP financial measures in 2020 exclude acquisition costs related to the purchase of the natural gas assets of Columbia Gas of Massachusetts on October 9, 2020 and in 2019 exclude the Northern Pass Transmission project impairment charge. ** The 2020 results include the operations of Eversource Gas Company of Massachusetts (EGMA) beginning October 9, 2020. 1. Historical Financial Information The Connecticut Light and Power Company, Connecticut’s largest electric utility, provides service in 149 cities and towns across the state to approximately 1.27 million customers. This figure includes 1.15 million residential customers, 112,400 commercial customers and 2,900 industrial customers. 7+203621 81,21 620(56 67$))25' 1257+ :22'672&. +$57 68)),(/' (1),(/' &$1$$1 &2/(%522. /$1' 125)2/. 6$/,6%85< *5$1%< CONNECTICUT3871$0 ($67 &$1$$1 *5$1%< :,1'625 (//,1*721 :,167(' /2&.6 ($67)25' %$5. ($67 +$067(' 320)5(7 :,1'625 $6+)25' 72//$1' :,//,1*721 :,1'625 6,06%85< .,//,1*/< %/220 &$1721 ),(/' 6287+ 9(5121 :,1'625 6+$521 &251:$// *26+(1 1(: 7255,1*721 +$57)25' %522./<1 &29(175< &+$3/,1 0$16),(/' +$03721 0$1&+(67(5 %2/721 $921 :(67 +$57 ($67 +$57)25' )25' +$57)25' /,1* %85/,1*721 $1'29(5 :,1'+$0 3/$,1),(/' +$5:,1721 6&27 7(5 /,7&+),(/' /$1' 6 :$55(1 &2/80%,$ &$17(5%85< )$50,1*721 :(7+(56 */$6721%85< .(17 ),(/' 1(: +(%521 %5,672/ 1(: ,1*721 635$*8( 3/$,1 7+20 %5,7$,1 52&.< *5,6:2/' 0255,6 9,//( 0$5/ /(%$121 1 $6721 +,// : %2528*+ 3/<0287+ 2 )5$1./,1 1 :$6+,1*721 17 %(5/,1 &520:(// /8 ,6%2 %(7+/(+(0 6287+,1*721 / 92 :$7(572:1 :2/&277 3257/$1' 1(: &2/&+(67(5 125:,&+ 0,/)25' ($67 %2=5$+ +$03721 35(6721 :22'%85< :$7(5%85< 0,''/(72:1 6+(50$1 52;%85< 0(5,'(1 &+(6+,5( 0,''/( %5,'*( 0,''/( ),(/' 6$/(0 1257+ :$7(5 %85< 6721,1*721 02179,//( 35263(&7 ($67 +$''$0 /('<$5' 1$8*$78&. +$''$0 1(: 6287+%85< '85+$0 )$,5),(/' :$//,1*)25' %522. ),(/' %($&21 :$7(5)25' 6721,1*721 /<0( )$//6 &+(67(5 2;)25' *52721 %(7+$1< 1257+ ($67 1257+ %5$1)25' .,//,1* +$9(1 '((3 /<0( '$1%85< 1(:72:1 :257+ 5,9(5 (66(; 6(<0285 +$0'(1 2/' /<0( :22' %(7+(/ $1 2/' 621 %5,'*( 6$<%522. ,$ 1 :(67 02152( '( ( *8,/)25' &/,1721 %522. 5% 1(:+$9(1 9 < $ + 0$',621 6+(/721 %5$1)25' 5('',1* $67 5,'*(),(/' 25$1*( :(67 ( +$9(1 ($6721 7580%8// 0,/)25' :(6721 675$7 )25' :,/721 %5,'*( 3257 )$,5),(/' 1(: :(673257 &$1$$1 125:$/. 67$0)25' '$5,(1 *5((1:,&+ THE CONNECTICUT LIGHT AND POWER COMPANY doing business as EVERSOURCE ENERGY 2. The Connecticut Light and Power Company (Millions of Dollars) 2020 2019 2018 2017 2016 Operating Revenues $3,547.5 $3,232.6 $3,096.2 $2,887.4 $2,806.0 Operating Income $740.4 $681.6 $635.8 $683.4 $672.4 Net Income $457.9 $410.9 $377.7 $376.7 $334.3 Capitalization, end of period (includes current maturities) Long-Term Debt $3,914.8 $3,518.1 $3,254.0 $3,059.1 $2,766.0 Preferred Stock 116.2 116.2 116.2 116.2 116.2 Common Equity 5,044.8 4,387.8 4,199.3 3,587.2 3,470.4 Total Capitalization $9,075.8 $8,022.1 $7,569.5 $6,762.5 $6,352.6 Short-Term Debt $0.0 $63.8 $0.0 $69.5 $80.1 Moody's/S&P Global Ratings/Fitch Securities Ratings Senior Secured Debt A1/A+/A+ A1/A+/A+ A1/AA-/A+ A2/AA-/A+ A2/A+/A+ Preferred Stock Baa2/BBB+/BBB+ Baa2/BBB+/BBB+ Baa2/A-/BBB+ Baa3/A-/BBB+ Baa3/BBB+/BBB+ Utility Plant As of December 31, 2020 As of December 31, 2019 Utility Accumulated Net Utility Accumulated Net Plant Depreciation Utility Plant Plant Depreciation Utility Plant Distribution Plant $6,820.7 $1,504.5 $5,316.2 $6,485.5 $1,502.1 $4,983.4 Transmission Plant 5,512.0 970.9 4,541.1 5,043.0 883.6 4,159.4 Total Utility Plant $12,332.7 $2,475.4 $9,857.3 $11,528.5 $2,385.7 $9,142.8 Rate Base 2020 2019 2018 2017 Distribution Rate Base $4,700 $4,200 $3,900 $3,600 Transmission Rate Base $3,400 $3,300 $3,100 $2,700 Capital Expenditures 2020 2019 2018 2017 Distribution Capital Expenditures $491.1 $512.8 $487.6 $447.0 Transmission Capital Expenditures $402.9 $459.5 $465.5 $431.5 Cash Flows From Operations 2020 2019 2018 2017 Cash Flows Provided by Operating Activities $397.1 $726.4 $588.1 $806.3 3. Historical Financial Information NSTAR Electric Company provides service to approximately 1.45 million customers in 139 cities and towns in eastern and western Massachusetts, including Cape Cod. This figure includes 1.25 million residential customers, 196,900 commercial customers and 1,700 industrial customers. Salisbury bury Merrimac Ames West Newburyport Haverhill Newbury Newbury Lawrence Groveland Clarksburg Monroe Metheuen Leyden GeorgetownRowley Rowe North Boxford North Heath Northfield Warwick Royalston Andover Florida Colrain Ashby Dunstable Dracut Ipswich Adams Winchendon Townsend Pepperell Rockport Bernardston Ashburnham Williamstown Lowell Andover Charlemont TyngsboroughChelmsford Middleton Adams Gill Lunenburg Hamilton Erving New Shelburne Groton Tewksbury Topsfield Essex Ashford Savoy Templeton Wenham Buckland Greenfield Orange Athol Gardner North Gloucester Lanesborough Hawley Westford Phillipston Reading Danvers Cheshire Fitchburg Ayer Lynnfield Beverly Montague Wendell Shirley Billerica Peabody Manchester Westminster Leominster Littleton Wilmington by-the-Sea Hancock Ashfield ield Carlisle Windsor Plainfield Conway Harvard Reading Deerf Salem Saugus Lexington Marblehead Bedford Wakefield Hubbardston BoxboroughActon Burlington Dalton Petersham Lynn Cummington Woburn Stoneham M Lancaster Concord elrose Swampscott Pittsfield Goshen Leverett Princeton inchester Sterling W Whately Sunderland New Salem Bolton Medford n Reve Hinsdale Peru Worthington Stow Arlington Malde Shutesbury Nahant t r Barre t e Maynard Lincoln Belmont So vere m E Chelsea Clinton WALTHAM ervill Hatfield Rutland C Chesterfield Pelham Hudson Sudbury ambridg e Winthrop Middlefield Berlin Watertown Lenox Williamsburg e Richmond Washington West Massachusetts Bay Hardwick Holden Northborough eston Northampton Oakham Boylston MARLBOROUGH NE FRAMINGHAM Boylston W Hadley Amherst W New Wayland T est Paxton Southborough ON Belchertown Braintree Shrewsbury Brookline W Natick Lee South Hadley North Becket Chester West Brookfield Wellesley Hull Stockbridge Worcester Tyringham Ware Brookfield Needham Boston Westhampton Stockbridge Leicester estborough Ashland Cohasset East- Granby Spencer Sherborn Dedham Huntington Southampton W Hampton Montgomery Dover MiltonQuincy Alford Hopkinton Great Otis Grafton Westwood East y Medfield Barrington Warren Auburn ur Randolph Scituate Monterey Blandford Ludlow b Hingham ill Holliston Norwood Holyoke Palmer Brookfield M Upton Braintree Brookfield Millis Canton Milford k Norwell o Weymouth Russell Springfield Northbridge
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