Slide 1: Supplemental Slides Year End 2021 Results
SUPPLEMENTAL SLIDES YEAR END 2021 RESULTS February 23, 2022 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 ◦ Long-planned leadership succession process implemented ▪ Lloyd Yates named President and CEO February 14 upon Joe Hamrock retirement ▪ Sondra Barbour and Cassandra Lee named to Board of Directors ◦ 2021 guidance range exceeded; 2022 guidance and long-term growth rates reaffirmed ▪ 20
Slide 4: Fourth Quarter & YTD Consolidated Financial Results
FOURTH QUARTER & YTD CONSOLIDATED FINANCIAL RESULTS GAAP FOURTH QUARTER YTD Change Change 2021 2020 2021 2020 Fav/(Unfav) Fav/(Unfav) Net Income (Loss) Available to Common Shareholders $152.2 $70.7 $81.5 $529.8 $(72.7) $602.5 ($ in Millions) Diluted Earnings (Loss) Per Share $0.36 $0.18 $0.18 $1.27
Slide 5: Fourth Quarter & YTD Segment Non-GAAP Results
FOURTH QUARTER & YTD SEGMENT NON-GAAP* RESULTS FOURTH QUARTER YTD GAS DISTRIBUTION OPERATIONS ($ Millions) Change Change 2021 2020 2021 2020 Fav/(Unfav) Fav/(Unfav) Operating Revenues $ 1,006.5 $ 833.9 $ 172.6 $ 3,206.4 $ 3,168.4 $ 38.0 Cost of Energy $ 365.7 $ 234.6 $ (131.1) $ 962.7 $ 794.2 $ (168
Slide 6: NiSource Debt and Credit Profile
NISOURCE DEBT AND CREDIT PROFILE • Debt level: ~$9.8B as of December 31, 2021 – ~$9.2B of long-term debt ▪ Weighted average maturity ~14 years ▪ Weighted average interest rate of 3.68% • Solid liquidity position – ~$1.6B in net available liquidity as of December 31, 2021* – ~$2.1B of committed facil
Slide 7: 2021A – 2024E Capital Forecast
2021A – 2024E CAPITAL FORECAST Investment opportunities expected to enhance system safety and reliability while driving shareholder value $3.4 - $3.7B Expected Investment Recovery Period Expected Renewable Generation $2.4 - $2.7B Investments of ~$2.0B Renewables (Rate Case Effective 2H/2023) $1.9 -
Slide 8: 2021 - 2024 Financing Plan
2021 - 2024 FINANCING PLAN* Financing strategy targets long-term Adj. FFO/total debt** of ~14%-15% ($ millions) 2021A 2022E 2023E 2024E Current Financing Plan • All financing is Planned Annual Safety & Modernization Investments included in our long- Equity term growth commitments ATM (At-the-Market)
Slide 9: Gas Distribution Operations
GAS DISTRIBUTION OPERATIONS • Final orders received in Pennsylvania, Kentucky, Maryland • Continuing to invest in infrastructure to enhance safety, reliability, customer affordability and sustainability HIGHLIGHT KEY COMPONENTS STATUS • Requested $221.4 million, net of the Capital Expenditure Progra
Slide 10: Electric Operations
ELECTRIC OPERATIONS • 2021 IRP Preferred Plan advances plans for retirement of all coal-fired generation by 2026-2028 while shifting towards lower-cost, clean and reliable forms of generation • Final order for the NIPSCO Electric TDSIC received December 2021 • Indiana Crossroads wind placed in servi
Slide 11: Safety and Infrastructure Programs
SAFETY AND INFRASTRUCTURE PROGRAMS MODERNIZATION ESTIMATED ANNUAL YEAR-END 2021 AUTHORIZED RECOVERY COMPANY PROGRAM MODERNIZATION RATE BASE PROGRAM ROE MECHANISM INVESTMENTS PROGRAM INVESTMENTS Columbia Gas of OH $3.9B 10.39% ~$10.6B $520M - $600M Tracked Rate Case (Forward Columbia Gas of PA $2.4B
Slide 12: Safety and Infrastructure Investment and Tracker Filing Details
SAFETY AND INFRASTRUCTURE INVESTMENT AND TRACKER FILING DETAILS INCREMENTAL INVESTMENTS RECOVERY COMPANY MECHANISM PERIOD AMOUNT ($M) EFFECTIVE DATE Infrastructure Replacement Program FY 2019 $234.4 May 2020 Columbia Gas of Ohio (IRP) FY 2020 May 2021 $212.6 FY 2019 $185.1 Sept 2020 Columbia Gas of
Slide 13: Robust Renewable Investments in Indiana
Robust Renewable INVESTMENTS in Indiana NIPSCO Target In Project Structure Investment ($M) Service Status Projects in Execution: Dunns Bridge I Solar JV: 265 Rosewater Wind JV ~$100 ’20 Complete Dunns Bridge II Solar + Storage JV: 435 + 75 Jordan Creek Wind PPA N/A ’20 Complete Indiana Crossroads II
Slide 14: Environmental, Social & Governance (ESG)
ENVIRONMENTAL, SOCIAL & GOVERNANCE (ESG) Environmental Social Governance ◦ Driving toward 90% reduction* ◦ Transformation focused on ◦ Leadership enhancements in scope 1 greenhouse gas customer safety, reliability and support commitment to emissions by 2030, inclusive affordability customer service
Slide 15: Appendix
APPENDIX YEAR END 2021 RESULTS NiSource | NYSE: NI | nisource.com |
Slide 16: Liquidity and Capitalization as of Year End 2021
LIQUIDITY AND CAPITALIZATION AS OF YEAR END 2021 ($M) CURRENT LIQUIDITY ACTUAL 12/31/21 MATURITY Revolving Credit Facility $1,850.0 Feb. 20, 2027 Accounts Receivable Programs* 251.2 Less: Drawn on Credit Facility — Commercial Paper 560.0 Accounts Receivable Programs Utilized — L/C's Outstanding Unde
Slide 17: Schedule 1 - Reconciliation of Consolidated Net Income to Net Operating Earnings
NiSource Inc. Schedule 1 - Reconciliation of Consolidated Net Income (Loss) Available to Common Shareholders to Net Operating Earnings Available to Common Shareholders (Non-GAAP) (unaudited) (1) Represents costs incurred for estimated third-party claims and related other expenses as a result of the
Slide 18: 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) See footnote descriptions contained with Schedule 1. NiSource | NYSE: NI | nisource.com | 18
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) See footnote descriptions contained with Schedule 1. NiSource | NYSE: NI | nisource.com | 19