Agenda

The current members of the Board Committees are as follows:

Audit, Finance and Risk Committee Communications Committee
James P. Dore, Chairman Jay N. Lustig, Chairman
C. George Bower James P. Dore
H. Scott Flegal Thomas J. Leonard
Thomas J. Leonard Deborah Novotny
Deborah Novotny Preston J. Stanley, Jr.

Compensation and Benefits Committee Nominating and Governance Committee

Stephen D. Genest, Chairman Elizabeth A. Dunn, Chairman
David P. Bernier Stephen D. Genest

C. George Bower Thomas J. Leonard

Corporate Governance Matters

Current Board of Directors. The Pennichuck Corporation Board of Directors is divided into
three classes, each class serving for three years following their election and until their successors
have been elected and qualified.

The number of Directors is currently fixed at eleven. Of the eleven directors, three have terms
ending in 2021 (Class C), four have terms ending in 2022 (Class A), and four have terms ending
in 2023 (Class B).

The current members of the Company’s Board of Directors are as follows:

January 11, 2011. The New Hampshire Public Utilities Commission approved the Merger
Agreement on November 23, 2011, concluding that “the transaction is in the public interest and
will not have an adverse effect on rates, terms, service, or operation of the utilities.”

VO PENNICHUCK’

PENNICHUCK CORPORATION
25 Walnut Street
Nashua, New Hampshire 03060

PROXY STATEMENT

2021 Annual Meeting of Sole Shareholder

To be Held on Saturday, May 8, 2021, at 9:00 a.m.
To Attend the Meeting: Dial 1-425-436-6322, then Enter Access Code 871028#

V2 PENNICHUCK*

PENNICHUCK CORPORATION
25 Walnut Street
Nashua, New Hampshire 03060

NOTICE OF ANNUAL MEETING OF SOLE SHAREHOLDER
To be Held on Saturday, May 8, 2021, at 9:00 a.m.

To Attend the Meeting: Dial 1-425-436-6322, then Enter Access Code 871028#

To the City of Nashua, New Hampshire, in its capacity as the Sole Shareholder of Pennichuck
Corporation:

Pennichuck Corporation — Quarterly Report (Quarter Ended September 30, 2020)

Subsequent Events

Pennichuck Water Works, Inc.

Pennichuck Corporation — Quarterly Report (Quarter Ended September 30, 2020)

Capital Expenditures

Capital Expenditures in the third quarter of 2020 were $5.2 million as compared to $6.9 million
in the third quarter of 2019. Capital Expenditures for the year-to-date were $5.8 million as
compared to $9.4 million in 2019,

Major expenditures in the nine months of 2020 included:

Pennichuck Corporation — Quarterly Report (Quarter Ended September 30, 2020)

Unaudited Cash Flow Statement

Cash Flow on a GAAP basis for the third quarter of 2020 as compared to the third quarter of
2019, and the year-to-date 2020 versus 2019, are as follows:

Pennichuck Corporation — Quarterly Report (Quarter Ended September 30, 2020)

Notes to Balance Sheet

Note 1 (Restricted Cash) — At September 30, 2020, the balance of $10.3 million represents an
increase of $8.3 million from the end of 2019, mainly due to (1) the cash generated from the
increased revenue levels year-over-year; and (2) the additional proceeds received from

Pennichuck Water’s September 2" bonding event as a one-time replenishment of the existing
MOERR Rate Stabilization Fund.

Pennichuck Corporation — Quarterly Report (Quarter Ended September 30, 2020)