Agenda

existing compensation and employee benefit plans. The Compensation and Benefits Committee
held 5 meetings in 2019.

Each Committee has adopted a written Charter which sets forth its purpose, membership,
duties and responsibilities. A copy of each Charter can be found on the Company’s website at
www.pennichuck.com, under the “Board of Directors ~- Meetings, Minutes and Corporate
Governance” caption.

The current members of the Board Committees are as follows:

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. There is a vacancy on the Board in Class B
due to the resignation of a Board member in November 2019. The Board of Directors is
nominating H. Scott Flegal for election as a Class B director to fill the vacancy in Class B.

Corporate Structure. As part of the acquisition, the corporate structure of Pennichuck
Corporation and its utility subsidiaries was retained. Under this structure, the City is the sole
shareholder of Pennichuck Corporation. Pennichuck Corporation continues to own five
corporate subsidiaries, including three regulated public utilities (Pennichuck Water Works, Inc.,
Pennichuck East Utility, Inc., and Pittsfield Aqueduct Company, Inc.), an unregulated service
company (Pennichuck Water Service Corporation), and a former real estate holding company

Va PENNICHUCK:

PENNICHUCK CORPORATION
25 Manchester Street
Merrimack, New Hampshire 03054

PROXY STATEMENT

2020 Annual Meeting of Sole Shareholder
To be Held on Saturday, May 2, 2020 at 9:00 a.m.

V2 PENNICHUCK®

PENNICHUCK CORPORATION
25 Manchester Street
Merrimack, New Hampshire 03054

NOTICE OF ANNUAL MEETING OF SOLE SHAREHOLDER
To be Held on Saturday, May 2, 2020 at 9:00 a.m.

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

PENNICHUCK”" 25 MANCHESTER STREET
PO BOX 1947
MERRIMACK, NH 03054-1947

(603) 882-5191
FAX {603} 913-2305
VIA HAND DELIVERY
WWW. PENNICHUCK, COM
March 4, 2020

Ms. Lori Wilshire, President
Board of Aldermen

City of Nashua

229 Main Street

Nashua, NH 03060

Dear President Wilshire:

Board of Aldermen

City of Nashua
229 Main Street Lori Wilshire
Nashua, NH 03061-2019 President, Board of Aldermen

(603) 589-3030

February 28, 2020

Susan K. Lovering, City Clerk
City of Nashua

229 Main Street

Nashua, NH 03061-2019

Dear Ms. Lovering:
Please be advised | am hereby calling a Special Meeting of the Board of Aldermen for Wednesday,

March 25, 2020, at 7:00 p.m. in the Auditorium at City Hall relative to a public hearing on Street Re-
Number Petition — Almont Street.

Thank you.

Board of Aldermen

City of Nashua
229 Main Street Lori Wilshire
Nashua, NH 03061-2019 President, Board of Aldermen

(603) 589-3030

March 5, 2020

Susan K. Lovering, City Clerk
City of Nashua

229 Main Street

Nashua, NH 03061-2019

Dear Ms. Lovering:

Please be advised | am hereby calling a Special Meeting of the Board of Aldermen for Wednesday,
March 25, 2020, at 7:00 p.m. in the Auditorium at City Hall relative to a public hearing on a Street
Discontinuance — A Portion of Palm Street.

Thank you.

Board of Aldermen

City of Nashua
229 Main Street Lori Wilshire
Nashua, NH 03061-2019 President, Board of Aldermen

(603) 589-3030

February 28, 2020

Susan K. Lovering, City Clerk
City of Nashua

229 Main Street

Nashua, NH 03061-2019

Dear Ms. Lovering:
Please be advised | am hereby calling a Special Meeting of the Board of Aldermen for Monday,

March 23, 2020, at 7:00 p.m. at Nashua High School North Lecture Hall, B166 relative to a public
hearing on R-20-017.

Thank you.
incerely, .