ENTERED CfIECKED AUDITED SUMMARIZED CLOSED

1 -IANNUALREPORTOFANNUALREPORTStONEDENTERE DCfIECKEDAUDITEDSUMMARIZEDCLOSEDWestSwan zeyWaterCompany,Inc.(ExactLegalNameofRes pondent)(Ifnamewaschangedduringtheyear,s howpreviousnameanddateofchange)n/ ,WestSwanzey, (603)352-2022 StateofNewHampshirePublicUtilitiesCommis sionConcordWaterUtilities-ClassesCFORTHE YEARENDEDDECEMBER31,2015 Name:Title:Address:Telephone#:Anru& ,:.. (Account215>17F-4 StatementofProprietaryCapital(Account218 >F-SStatementofChangesinFinancialPositio nF-6 UtilityPlant( )andAccumulatedDepreciationandAmortizati on(Accounts108-110)F-7 UtilityPlantAcquisitionAdjustments(Accou nts114-115)20F-aUtilityPlantInService(Ac counts101-104)21F-laConstructionWorkinPr ogress(Account105)22F-ilAccumulatedDepre ciationofUtilityPlantinService(Account10 8)23F-12 AnnualDepreciationCharge24F-31 CapitalStock(Accounts201and204)25F-35 LongTermDebt(Account224)25F-38 AccruedandPrepaidTaxes(Accounts236and183 )26F-48 ContributionsinAidofConstruction(Account 271) (Account272) , (Account405)30F-47 OperatingRevenues(Account400)31F-48 OperationandMarntenanceExpenses(Account4 01)32F-49 AmortizationofUtilityPlantAcquisitionAdj ustment(Account406)andAmortizationExpens e Other(Account407) (Accounts408and409)))

2 37F-56 ReconciliationofReportedNetIncomewithTax ableIncomeforFederalIncomeTaxes36F-57 DonationsandGifts39F-58 DistributionofSalariesandWages40 AnnualReportofYearEndedDecember31,TABLEO F ,Reservoirs45S-8 ActiveServices, ,8 OldSuncookRoad,Concord,NewHampshire03301 -5185,onorbeforeMarch31ofeachyear,inacco rdancewiththerequirementsofNewHampshireR SA374 ,wheneverusedinthisreport,meanstheperson ,firm, (81/2X11) , No or None trulyandcompletelystatesthefact, ,thewords NotApplicable or nla (suchasdecreasesreportedinacolumnprovidi ngforbothincreasesanddecreases) ,thefiguresreportedmustbebaseduponthoses hownbytheAnnualReportofthepreviousyear, ,theapplicableyearofthereport, , , 1 A-2 IDENTITYOFRESPONDENTG ivetheexactnameunderwhichtheutilitydoesb usiness:WestSwanzeyWaterCompany, : ,WestSwanzey, ,jointstockassociation,afirmorpartnershi p,oranindividual:CorporationIfacorporati onorassociation,givedateofincorporation, Stateunderwhoselawsincorporated,andwheth erincorporatedunderspecialactorgeneralla w:August1, ,givenchapterandsessiondate:N/AGivedatew hencompanywasoriginallyorganizedanddateo fanyreorganization:August1,1986 Nameandaddressesofprincipalofficeofanyco rporations,trustsorassociationowning,con trollingoroperatingrespondent:N/ANameand addressesofprincipalofficeofanycorporati on,trustsorassociationowned,controlledor operatedbytherespondent:N/ADatewhenrespo ndentfirstbegantooperateasautility*:Nove mber28,1988 Iftherespondentisengagedinanybusinessnot relatedtoutilityoperation,giveparticular s:NoneIfthestatusoftherespondenthaschang edduringtheyearinrespecttoanyofthestatem entsmadeabove,giveparticulars:NochangesI ftheutilityisaforeigncorporationwhichope ratedinNewHampshirepriortoJune1,1911.

3 25, *Ifengagedinoperationsofutilitiesofmoret hanonetype, , ,theundersigned, ,underourdirection,fromtheoriginalbooks, papersandrecordsofsaidutility,thatwecare fullyexaminedthesame,anddeclarethesameto beacompleteandcorrectstatementofthebusin essandaffairsofsaidutility,inrespecttoea chandeverymatterandthingthereinsetfortht othebestofourknowledge,informationandbel ief, PresidentSubscribedandsworntobeforemethi s74kdayof3 LLIV, *NOTARYPUBLIO-IIAMrSI-tInE*H[MyCommissnE xpiresJanuary26, ,2015A4 LISTOFOFFICERS* *1 President&SecretarySarahBrownRedFoxRun,K eene, $2 TreasurerDuncanBrown200 ElmTreeDrive,Williamstown, ,Williamstown, $ ,Salisbury, ,Keene, $25 ListDirectors Feepermeeting$* , , :42 Indicatetotalnumberofshareholdersofrecor datcloseofyearaccordingtoclassesofstock: 4345 Indicatethetotalnumberofvotescastatthela testgeneralmeeting:46 Givedateandplaceofsuchmeeting:November29 ,2015attheHomesteadWoolenMillofficeinWes tSwenzey, ,theofficers,directorsandeachholderofone percentormoreofthevotingstock:(Section7, Chapter182,Lawsof1933) ,Keene, ,Williamstown, ,Salisbury, ,WestSwanzey, , ,2015A-6 LISTOFTOWNSSERVEDL istbyoperatingdivisionsthetownsserveddir ectly,indicatingthoseinwhichfranchiseisf orlimitedareabyanasterisk(*) :800841 WestSwanzey80084162173184195206217228239 241025112612271328142915 SubTotalsForward.]

4 8008430 Total80084A-7 PAYMENTSTOINDIVIDUALSL istnamesofallindividuals,partnerships,or corporationstowhompaymentstotaling$10,00 0ormoreforservicesrenderedweremadeoraccr uedduringtheyear, $10,000ormore, ,Keene, $19,000234567891011121314151617181920212 22324252627282930 Total$19,000-6-THISPAGELEFTBLANKINTENTIO NALLY-7-AnnualReportofWestSwanzeyWaterCo mpany, ,2015A-8 MANAGEMENTFEESANDEXPENSESL istallindividuals,associations, ,engineering,construction,purchasingoper ation, ( )thoseorganizetionswhichare Affiliates asdefinedinChaper182, (b)(C)(d)(e)(f)(g)(h)(I) $16,600$16,600234567891011 Totals$16,600$16,600$Hesvecopiesofallcon tractsoragreementsbeentiledwiththecommis sion? (Columnh)Linel%, $70013903 CustomerRecords3,80014905 MiscellaneousCustomerAccounts70015923 OutsideServices11,4001617181920212223242 52627282930 Total$16,600-8-AnnualReportofWestSwanzey WaterCompany, ,2015A-9 BUSINESSCONTRACTSWITHOFFICERS,DIRECTORSA NDAFFILIATESL istallcontracts,agreements,orotherbusine ssagreements*enteredintoduringthecalenda ryear(otherthancompensationrelatedtoposi tionwithRespondents)

5 BetweentheRespondentandofficeranddirecto rlistedonScheduleA-3, ,providethesameinformationwithrespecttop rofessionalservicesforeachfirmpartnershi p, , $16, ,Keene, ,400 Brown&Brown,WestChesterfield, *BusinessAgreements,forthisschedule, ,theofficerordirectoris,however, , ,2015A-IlBUSINESSTRANSACTIONSWITHRELATED PARTIESL isteachcontract,agreement,orotherbusines stransactionexceedingacumulativeamountof $500inanyoneyear,enteredintobetweentheRe spondentandabusinessorfinancialorganizat ion,firm,orpartnershipnamedonScheduleA-3 ,Oath,identifyingtheparties,amounts,date sandproduct, ,legalandaccountingservices;computerserv ices;engineering&constwctionservices;rep airingandservicingofequipment;materialan dsuppliesfurnished;leasingofstructures,l andandequipment;allrentaltransactions;sa le, (P) (S)oldAmount2 SeeSchedulesA-8&A-9345678910111213141516 17181920-10-AnnualReportofWestSwanzeyWat erCompany, ,2015A-IlBUSINESSTRANSACTIONSWITHRELATED PARTIESPARTII-SALE,PURCHASEANDTRANSFEROF ASSETSL istalltransactionsrelatingtothepurchase, :(1)purchase,saleortransferofequipment,( 2)purchase,saleortransferoflandandstruct ures,(3)purchase,saleortransferofsecurit ies,(4)noncashtransfersofassets,(5)nonca shdividendsotherthanstockdividends,(6) :(a)Enternameofrelatedpartyorcompany.

6 (b)Describethetypeofassetspurchased,sold ortransferred.(c) P andsalewith S .(d)Enterthenetbookcostforeachitemreport ed.(e)Enterthenetprofitorlossforeachitem (column(c)-column(d)).(f) , (a)(b)(C)(d)(e)(f)IN/A23456789101112 11 AnnualReportofWestSwanzeyWaterCompany, ,2015A-12 IMPORTANTCHANGESDURINGTHEYEARG iveconciseanswerstoeachofthefollowing, none , , ;reorganization,merger,orconsolidationwi thothercompanies:givenamesofcompaniesinv olved,particularsconcerningthetransactio ns, ,pumping,treatment, ,pumping,treatment,andtransmissionanddis tributionplant, (mainsandservice) (mainsandservice) ,leased,soldordismantled:Specifyingitems ,partiesanddates,andalsoreferencetoNHPUC docketnumberunderwhichauthoritywasgivent oacquire,lease, , , , , ,2016thePUGissuedorder#25, , ,director,securityholder,votingtrustee, AnnualReportofWestSwanzeyWaterCompany, ,2015 ClassCWaterUtilityF-iBALANCESHEETA ssetsandOtherDebitsCurrentPreviousIncrea seRefYearEndYearEndorLineAcctAccountTitl eSchBalanceBalanceDecrease#(a)(b)(c)(d)( e)UTILITYPLANTU tilityPlantLess:AccumulatedDepreciation& AmortizationNetPlantUtilityPlantAcquisit ionAdjustment-NetF-6F-6F-7 TotalNetUtilityPlantOTHERPROPERTYANDINVE STMENTSN onutilityPropertyLess.

7 AccumulatedDepreciation&AmortizationNetN onutilityPropertyUtilityInvestmentsDepre ciationFunds101->105108+110114-115121122 124127131132141-143151162+163174186190I2 345678910111213141516171819202122 TotalOtherPropertyandInvestmentsCURRENTA N])ACCRUEDASSETSCashSpecialDepositsAccou ntsReceivableNetPlantMaterialsandSupplie sPrepaymentsMiscellaneousCurrentandAccru edAssets$473,699$469,089$4,610212,504201 ,00611,498$261,195$268,083($6,888)$261,1 95$268,083($6,888)$0$0$0&4$ ,887($4,576)13,00112,057944696756213,366 3,2749224,39417,7056,689$44,768$40,998$3 ,770$6,320$6,814($494)$6,320$6,814($494) TotalCurrentandAccruedAssetsDEFERREDDEBI TSM iscellaneousDeferredDebitsAccumulatedDef erredIncomeTaxesTotalDeferredDebitsTOTAL ASSETSANDOTHERDEBITS$312,283$315,895($3, 612)-14-AnnualReportofWestSwanzeyWaterCo mpany, ,2015 ClassCWaterUtilityF-iBALANCESHEETE quityCapitalandLiabilitiesCurrentPreviou sIncreaseRefYearEndYearEndorLineAcctAcco untTitleSchBalanceBalance(Decrease)#(a)( c)(d)(e)EQUITYCAPITALC ommonStockIssuedPreferredStockIssuedOthe rPaidInCapitalRetainedEarningsProprietar yCapital(Proprietorships&Partnershipsonl y)20120421121721822423123223523623724125 2253255265271-272281->283123456789101112 13141516171819202122$30,471$30,471$0$10, 474$2,9707,504$40,945$33,441$7,504$150,2 44$163,634($13,390$150,244$163,634($13,3 90)$25,092$17,847$7,2451,3851031,282F-31 F-3IF-3F-4F-35F-36F-38F-46 TotalEquityCapitalLONGTERMDEBTO therLong-TermDebtTotalLongTermDebtCURREN TAN])

8 ACCRUEDLIABILITIESA ccountsPayableNotesPayableCustomerDeposi tsAccruedTaxesAccruedInterestMiscellaneo usCurrent&AccruedLiabilitiesTotalCurrent andAccruedLiabilitiesOTHERLIABILITIESA dvancesforConstructionOtherDeferredCredi tsAccumulatedDeferredInvestmentTaxCredit MiscellaneousOperatingReservesCIAC-NetAc cumulatedDeferredIncomeTaxesTotalOtherLi abilities473661\324 TOTALEOUITYCAPITALANDLIABILITIES94,14410 0,194(6,050)$94,144$100,194($6,050)$ $ ( , ,2015 ClassCWaterUtilityF-2 STATEMENTOFINCOMEI ncreaseRefCurrentPreviousorLineAcctAccou ntTitleSchYearYear(Decrease)##(a)(b)(c)( d)(e)UTILITYOPERATINGINCOMEO peratingRevenueOperatingExpenses:Operati onandMaintenanceDepreciationAmortization ofCIACA mortizationofUtilityPlantAcquisitionAdjA mortization-OtherTaxesOtherThanIncomeInc omeTaxes( + + + )400401403405406407408419420421422426427 1234567891011121314151617181920 TotalOperatingExpensesNetOperatingIncome (Loss) $77,952$74,578$3,374$45,693$46,693($1,00 0)15,12015,376(256)(6,050)(5,057)(993)20 720708,2388,19543$63,207$65,414($2,207)$ 14,745$9,164$5,581(7,241)(7,764)523($7,2 41)($7,764)$523 OTHERINCOMEANDDEDUCTIONSI nterest&DividendIncomeAllowanceforFundsU sedDuringConstructionNon-UtilityIncomeGa in(Loss)FromDispositionNonutilityPropert yMiscellaneousNon-UtilityExpensesInteres tExpenseTaxesOtherThanIncome( + + + )TotalOtherIncomeandDeductionsNETINCOME( LOSS)$7,504$1,400$6,104-16-AnnualReporto fWestSwanzeyWaterCompany, ,2015 ClassCWaterUtilityF-3 STATEMENTOFRETAINEDEARNINGS(Account217) ,andgivedetails, #(a))

9 (b)(c)IBalancebeginningofyear$2,9702 Changesduringtheyear(specify):3 NetIncome(Loss)$7,50445678910 Balanceendofyear$-$10,474F-4 STATEMENTOFPROPRIETARYCAPITAL(Account218 )(forproprietorshipsandpartnershipsonly) #(a)(b)1 Balancebeginningofyear2 Changesduringtheyear(specify):345678910 Balanceendofyearso-17-AnnualReportofWest SwanzeyWaterCompany, , ,undertheclassificationof Other ,toallowfordisclosureofallsignificantcha ngesandtransactions, Other (b),andtheyearpriortothisreportincolumn( c). (a)(b)(c)InternalSources:NetIncomeAdjust mentstoRetainedEarningsCharges(Credits)t oIncomeNotRequiringFunds:DepreciationAmo rtizationDeferredIncomeTaxesandInvestmen tTaxCredits(Net)CapitalizedAllowanceforF undsUsedDuringConstructionOther(Net)Tota lFromInternalSourcesAdjustmentstoRetaine dEarningsNetFromInternalSourcesEXTERNALS OURCES:Long-termdebt(bonds,debentures,et c.;netproceeds&payments)CommonStock(netp roceedsandpayments)NetIncreaseInShortTer mDebt(includecommercialpaper)Other(Net)C IACT otalFromExternalSourcesOtherSources*NetD ecreaseinWorkingCapitalExcludingShortTer mDebtOtherTotalFinancialResourcesProvide dApplicationofFundsConstructionandPlantE xpenditures(includeland):GrossAdditionsW aterPlantNonutilityPlantOtherTotalGrossA dditionsLess:CaptializedAllowanceforFund sUsedDuringConstructionTotalConstruction andPlantExpendituresRetirementofDebtandS ecurities:Long-TermDebt(bonds,debentures ,etc.)

10 Netproceeds&payments)RedemptionofCapital StockNetDecreaseinShortTermDebt(includec ommercialpaper)Other(Net):OtherPaidinCap italTotalRetirementofDebtandSecuritiesOt herResourceswereusedfor*NetIncreaseinWor kingCapitalExcludingShortTermDebtOtherTo talFinancialResourcesUsed_____$17,253$20 ,850$17,253$20,850$25,000$0$25,000$17,25 3$45,850$8,439$31,296$8,439$31,296$8,439 $31,296$13,390$12,884$13,390$12,884*Such asnetincreaseordecreaseinworkingcapitale xcludingshort-termdebt,purchaseorsaleofo thernon-currentassets,investmentsinandad vancestoandfromassociatedcompaniesandsub sidiaries, $7,504015,120(5,843)473$1,400015,376(4,8 50) $ $7,88717,253(91R9$6,21745,850(44,180)$33 11$7,887-18&19-AnnualReportofWestSwanzev WaterCompany, (Accounts101->105)ANDACCUMULATEDDEPRECIA TIONANDAMORTIZATION(Accounts108+110) CurrentPreviousIncreaseRefYearEndYearEnd orLineAcctAccountSchBalanceBalance(Decre ase)##(a)(c)(d)(e)1 PLANTACCOUNTS2101 UtilityPlantinService-Acet(301->348)F-8$ 473,699$469,089$4,6103