Eversource Energy Acquires Aquarion Water Company

New England’s largest energy company unites with region’s largest
private water company to serve nearly four million customers combined in
Connecticut, Massachusetts and New Hampshire

HARTFORD, Conn. & BOSTON–(BUSINESS WIRE)–In an acquisition that will combine New England’s largest energy company
with the region’s largest private water company, Eversource Energy
(NYSE: ES) today announced that it reached an agreement to acquire
Aquarion Water Company for an enterprise value of $1.675 billion,
comprised of $880 million in cash and $795 million of assumed Aquarion
debt.

“This transaction combines two companies that are leaders in providing
the critical infrastructure New England residents and businesses need to grow
and thrive,” said Jim Judge, chairman, president and chief executive
officer of Eversource. “Both companies’ dedicated employees work
relentlessly to put customers
first, and that commitment to reliability
and customer service will remain paramount.”

Aquarion is highly respected in the industry, with top customer
favorability ratings and an impressive team of more than 300 employees
operating the region’s best water system. Eversource’s committed 8,000
employees work tirelessly every day to provide sustainable energy
solutions and power the region’s economy, serving 3.7 million electric
and natural gas customers in Connecticut,
Massachusetts and New Hampshire. Aquarion serves nearly 230,000
customers in the same
states.

“Eversource has such strong local ties to New England, and a commitment
to operational excellence, customer service, and support for the
communities we serve,” said Chuck Firlotte, Aquarion president and chief
executive officer. “These are qualities we share and will serve us well
as we join with Eversource’s incredible team of employees.”

Since 2007, Aquarion has been owned by a partnership led by Macquarie
Infrastructure Partners. Aquarion’s superior operational performance
earned the company a number one ranking among Northeast water companies
in recent customer satisfaction surveys. Eversource is recognized as the
top U.S. utility for its energy efficiency programs, saving its
customers nearly $1 billion and resulting in a reduction of carbon
dioxide emissions by three-quarters-of-a-million tons annually.

Judge noted the transaction underscores Eversource’s commitment to be a
catalyst for helping New England meet its environmental and
sustainability goals. “Welcoming Aquarion to our team provides an
exciting opportunity to add a new, highly complementary business line
that delivers high quality water at affordable rates,” added Judge. “For
Aquarion, becoming a part of Eversource ensures local ownership that is
committed to providing the resources needed to make investments in the
business to drive long-term success.”

The acquisition requires approval from the Connecticut Public Utilities
Regulatory Authority, the Massachusetts Department of Public Utilities
and the New Hampshire Public Utilities Commission. It also requires U.S.
Justice Department review under the Hart-Scott-Rodino Act. The
transaction is expected to close by December 31, 2017.

Eversource intends to finance the transaction with a combination of cash
and a small amount of debt.

Evercore is acting as exclusive financial advisor and Ropes & Gray LLP
is acting as legal counsel to Eversource.

About Eversource:

Eversource (NYSE: ES) transmits and delivers electricity and natural
gas for approximately 3.7 million electric and natural gas customers in
Connecticut, Massachusetts and New Hampshire. Recognized as the top U.S.
utility for its energy efficiency programs by the sustainability
advocacy organization Ceres, Eversource harnesses the commitment
of its approximately 8,000 employees across three states to build a
single, united company around the mission of safely delivering reliable
energy and superior customer service. For more information, please visit
our website (www.eversource.com)
and follow us on Twitter (@EversourceCorp)
and Facebook (facebook.com/EversourceEnergy).

About Aquarion Water Company:

Aquarion Water Company is the public water supply company for more
than 625,000 people in 51 cities and towns throughout Connecticut, as
well as serving customers in Massachusetts and New Hampshire. It is the
largest investor-owned water utility in New England and among the seven
largest in the U.S. Based in Bridgeport, Conn. It has been in the public
water supply business since 1857. Across its operations, Aquarion
strives to act as a responsible steward of the environment and to assist
the communities it serves in promoting sustainable practices.

For more information on Aquarion Water Company and its subsidiaries,
please visit www.aquarionwater.com
or www.facebook.com/aquarionwater.

Forward Looking Statement: This news release 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. In some cases, 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, cyber
breaches, acts of war or terrorism, or grid disturbances; actions
or inaction of local, state and federal regulatory, public policy and
taxing bodies; changes in business conditions, which could include
disruptive technology related to Eversource’s current or future business
model; changes in economic conditions, including impact on interest
rates, tax policies, and customer demand and payment ability;
fluctuations in weather patterns; changes in laws, regulations or
regulatory policy; changes in levels or timing of capital expenditures;
disruptions in the capital markets or other events that make
Eversource’s access to necessary capital more difficult or costly;
developments in legal or public policy doctrines; technological
developments; 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’s reports filed with
the Securities and Exchange Commission (SEC) and updated as necessary,
and are available 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; 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 event.

Contacts

Eversource
Media Inquiries:
Caroline Pretyman,
617-424-2460
[email protected]
or
Investor
Inquiries:
Jeff Kotkin, 860-665-5154
[email protected]
or
Aquarion
Water Company
Media Inquiries:
Peter Fazekas, 203-336-7651
[email protected]