Slide 1: Supplemental Slides 2Q 2021 Results
SUPPLEMENTAL SLIDES 2Q 2021 RESULTS August 4, 2021 NiSource | NYSE: NI | nisource.com |
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation contains “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Investors and prospective i
Slide 3: Key Takeaways
KEY TAKEAWAYS • Second Quarter 2021 Non-GAAP Diluted NOEPS* of $0.13 ◦ Results reflect safety & modernization investments and lower COVID impact during the quarter as well as the profile of our business without Columbia Gas of Massachusetts • 2021 Guidance and long-term financial commitments reaffir
Slide 4: Second Quarter Consolidated Financial Results
SECOND QUARTER CONSOLIDATED FINANCIAL RESULTS GAAP SECOND QUARTER YTD Change Change 2021 2020 2021 2020 Fav/(Unfav) Fav/(Unfav) Net Income (Loss) Available to Common Shareholders $46.5 $(18.5) $65.0 $328.2 $43.3 $284.9 ($ in Millions) Diluted Earnings (Loss) Per Share $0.11 $(0.05) $0.16 $0.80 $0.11
Slide 5: Second Quarter Segment Non-GAAP Results
SECOND QUARTER SEGMENT NON-GAAP* RESULTS SECOND QUARTER YTD GAS DISTRIBUTION OPERATIONS ($ Millions) Change Change 2021 2020 2021 2020 Fav/(Unfav) Fav/(Unfav) Operating Revenues $ 576.6 $ 606.2 $ (29.6) $ 1,723.9 $ 1,862.0 $ (138.1) Cost of Energy 129.0 119.2 (9.8) 508.0 496.6 (11.4) Tracked Operati
Slide 6: NiSource Debt and Credit Profile
NISOURCE DEBT AND CREDIT PROFILE • Debt level: ~$9.2B as of June 30, 2021 – ~$9.1B of long-term debt ▪ Weighted average maturity ~15 years ▪ Weighted average interest rate of 3.68% • Solid liquidity position – ~$2.2B in net available liquidity as of June 30, 2021* – ~$2.1B of committed facilities in
Slide 7: 2021E–2024E Capital Forecast
2021E – 2024E CAPITAL FORECAST Investment opportunities expected to enhance system safety and reliability while driving shareholder value $3.4 - $3.7B Expected Investment Recovery Period $2.4 - $2.7B Renewables (Rate Case Targeted $1.9 - $2.1B $1.9 - $2.2B Expected Renewable 2H/2023) Generation Grow
Slide 8: 2021-2024 Financing Plan
2021 - 2024 FINANCING PLAN* Financing strategy targets long-term Adj. FFO/total debt** of ~14%-15% ($ millions) 2021E 2022E 2023E 2024E Current Financing Plan Planned Annual Safety & Modernization Investments • All financing is included in our long- Equity term growth ATM (At-the-Market) $200 - $300
Slide 9: Gas Distribution Operations
GAS DISTRIBUTION OPERATIONS ◦ New base rate cases filed in Ohio, Kentucky and Maryland; Pennsylvania case continues ◦ Continuing to execute infrastructure modernization designed to enhance system safety, reliability and environmental performance HIGHLIGHT KEY COMPONENTS STATUS ◦ Requesting $221.4 mi
Slide 10: Electric Operations
ELECTRIC OPERATIONS ◦ Regulatory progress continues on remaining 2018 IRP renewable projects ◦ RFP solicitation generated more than 180 total proposals for 78 individual projects within 2021 IRP process ◦ New ~$1.6B TDSIC electric system modernization program filed for 2021-2026 HIGHLIGHT KEY COMPON
Slide 11: Safety and Infrastructure Programs
SAFETY AND INFRASTRUCTURE PROGRAMS MODERNIZATION ESTIMATED ANNUAL YEAR-END 2020 AUTHORIZED RECOVERY COMPANY PROGRAM MODERNIZATION RATE BASE PROGRAM ROE MECHANISM INVESTMENTS PROGRAM INVESTMENTS Columbia Gas of OH $3.5B 10.39% ~$10.6B $540M - $560M Tracked Rate Case (Forward Columbia Gas of PA $2.1B
Slide 12: Safety and Infrastructure Investment and Tracker Filing Details
SAFETY AND INFRASTRUCTURE INVESTMENT AND TRACKER FILING DETAILS INCREMENTAL INVESTMENTS RECOVERY COMPANY MECHANISM PERIOD AMOUNT ($M) FILING DATE EFFECTIVE DATE Infrastructure Replacement FY 2019 $234.4 Feb 2020 May 2020 Columbia Gas of Ohio Program (IRP) FY 2020 Feb 2021 May 2021 $212.6 FY 2019 $18
Slide 13: Robust Renewable Investments in Indiana
ROBUST RENEWABLE INVESTMENTS IN INDIANA NIPSCO Project Structure Investment ($M) In Service Status Dunns Bridge I Solar JV: 265 Dunns Bridge II Solar + Storage JV: 435 + 75 Projects in Execution: Indiana Crossroads II Wind PPA: 200 Rosewater Wind JV ~$100 ’20 Complete Cavalry Solar + Storage JV: 200
Slide 14: Environmental, Social & Governance
ENVIRONMENTAL, SOCIAL & GOVERNANCE (ESG) Environmental Social Governance • $1.8B-$2.0B of planned • Transformation focused on • Leadership enhancements renewable investments customer safety and reliability support commitment to through 2023 customer service and safety • Economically benefiting • Exp
Slide 15: Appendix
APPENDIX 2Q 2021 RESULTS NiSource | NYSE: NI | nisource.com | 15
Slide 16: Liquidity and Capitalization as of 2Q 2021
LIQUIDITY AND CAPITALIZATION AS OF 2Q 2021 ($M) CURRENT LIQUIDITY ACTUAL 6/30/21 MATURITY Revolving Credit Facility $1,850 Feb. 20, 2024 Accounts Receivable Programs* 246 Less: Drawn on Credit Facility — Commercial Paper — Accounts Receivable Programs Utilized — L/C's Outstanding Under Credit Facili
Slide 17: 2021 Integrated Resource Planning Process Will Inform Generation Transition Timeline
2021 Integrated Resource Planning Process Will Inform Generation Transition Timeline IRP Process Key Milestones Timing ▪ Kicked off Public Stakeholder Advisory March meetings and engagement 2021 IRP Preferred Plan ▪ Issued “all-source” Request for May ▪ The IRP Preferred Plan is designed to Proposal
Slide 18: Schedule 1 - Reconciliation of Consolidated Net Income
NiSource Inc. Schedule 1 - Reconciliation of Consolidated Net Income Available to Common Shareholders to Net Operating Earnings Available to Common Shareholders (Non-GAAP) (unaudited) Three Months Ended Six Months Ended June June 30, 30, (in millions, except per share amounts) 2021 2020 2021 2020 GA
Slide 19: Schedule 2 - Reconciliation by Segment
NiSource Inc. Schedule 2 - Reconciliation by Segment of Operating Revenues, Expenses (Benefits), and Income (Loss) (GAAP) to Operating Revenues, Expenses (Benefits), and Income (Loss) (Non-GAAP) (unaudited) Gas Corporate & Three Months Ended June 30, 2021 (in millions) Distribution Electric Other To
Slide 20: Schedule 2 - Reconciliation by Segment
NiSource Inc. Schedule 2 - Reconciliation by Segment of Operating Revenues, Expenses (Benefits), and Income (Loss) (GAAP) to Operating Revenues, Expenses (Benefits), and Income (Loss) (Non-GAAP) (unaudited) Gas Corporate & Six Months Ended June 30, 2021 (in millions) Distribution Electric Other Tota