Slide 1: Forward-Looking Statements "Safe Harbor" Statement
Forward-Looking Statements "Safe Harbor" Statement This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements include statements regarding the
Slide 2: Performance: 15% Total Shareholder Return 2002-2003
Performance 15% Total Shareholder Return 2002-2003 Stock Price Appreciation $ 1.94 2003 Dividends +$ 1.10 $ 3.04 2002 Year-End Stock Price $ 20.00 2003 Total Shareholder Return 15% 2004 NiSource Inc. Annual Stockholder Meeting
Slide 3: Geographic area map
geographic area map
Slide 4: Balance: Operating Income from Regulated Businesses
Balance Operating Income Virtually 100% of Operating Income from Regulated Businesses Regulated Electric Operations 23% Regulated Gas Distribution 43% Regulated Gas Transmission & Storage 34% 2004 NiSource Inc. Annual Stockholder Meeting
Slide 5: Income from continuing operations: $1.64 per share
Income from continuing operations: $1.64 per share Investment grade credit ratings with a stable outlook Strong balance sheet Exited major non-core businesses Cost control
Slide 6: Total debt strength
total debt strength $8,585 $8,330 $6,988 $6,797 $6,285 12/31/00 12/31/01 12/31/02 12/31/03 3/31/04
Slide 7: Dividend payout target
* 2003 Based on EPS from continuing operations ** Target Future Payout at 55% Range
Slide 8: Income from continuing operations outlook
Income from continuing operations: 83 cents per share Normal weather Flat operating expenses Reduced interest expenses Lower pipeline interruptible revenues Improved capital structure
Slide 9: Performance: Highlights of recent accomplishments
Performance Highlights of recent accomplishments integration standardization 2004 NiSource inc. annual stockholder meeting
Slide 10: Growth: Hardy Storage, Millennium Pipeline, non-traditional revenues
Hardy Storage Project Millennium Pipeline Grow non-traditional revenues - Retail products and services Regulatory strategy focused on innovative win-win solutions
Slide 11: Corporate governance
Adopted new corporate governance guidelines Lead Director - Ian Rolland Directors' independence Ethics training for all employees Greater transparency - Web site www.nisource.com Sarbanes-Oxley compliance
Slide 12: Responsibility: community involvement and contributions
responsibility community involvement and contributions 2004 nisource inc. annual stockholder meeting
Slide 13: Net Income and EPS from continuing operations
Net Income ($ in millions) From Continuing Operations EPS Assumes Normal Weather
Slide 14: Focused on the strength of NiSource
focused the strength of nisource
Slide 15: NiSource
NiSource