| Explanation of Responses: |
| (1) | Represents 7,109 shares of the Issuer's common stock ("Common Stock") and 6,025 shares of Common Stock underlying restricted stock units which will vest and become issuable in accordance with their terms. |
| (2) | Represents 159 shares subject to deferred stock units ("DSUs") granted to the reporting person pursuant to dividend equivalent rights ("DERs") accrued on outstanding DSUs granted by Connecticut Water Service, Inc., a wholly owned subsidiary of the Issuer. DERs accrue when and as dividends are paid on the Common Stock underlying the awards and will vest and be settled in accordance with the same terms as the DSUs to which they relate. |
