Slide 1: Supplemental Slides 2Q 2022 Results
SUPPLEMENTAL SLIDES 2Q 2022 RESULTS August 3, 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 ◦ 2022 guidance and long-term growth rates reaffirmed ▪ 2022 non-GAAP diluted NOEPS guidance range of $1.42 to $1.48 reaffirmed ▪ Reaffirmed 5-7% 2023 annual non-GAAP NOEPS growth and 7-9% CAGR** from 2021 results to 2024 ▪ Continue to expect 2022 capital expenditures of $2.4 to $2.7B
Slide 4: Second Quarter & YTD Consolidated Financial Results
SECOND QUARTER & YTD CONSOLIDATED FINANCIAL RESULTS GAAP SECOND QUARTER YTD Change Change 2022 2021 Fav/(Unfav) 2022 2021 Fav/(Unfav) Net Income (Loss) Available to Common Shareholders $53.2 $46.5 $6.7 $466.2 $328.2 $138.0 ($ in Millions) Diluted Earnings (Loss) Per Share $0.12 $0.11 $0.01 $1.06 $0.
Slide 5: Second Quarter & YTD Segment Non-GAAP Results
SECOND QUARTER & YTD SEGMENT NON-GAAP* RESULTS SECOND QUARTER YTD GAS DISTRIBUTION OPERATIONS ($ Millions) Change Change 2022 2021 2022 2021 Fav/(Unfav) Fav/(Unfav) Operating Revenues $ 743.4 $ 576.6 $ 166.8 $ 2,181.1 $ 1,723.9 $ 457.2 Cost of Energy $ 253.4 $ 129.0 $ (124.4) $ 842.5 $ 508.0 $ (334.
Slide 6: NiSource Debt and Credit Profile
NISOURCE DEBT AND CREDIT PROFILE ◦ Debt level: ~$10.1B as of June 30, 2022 ▪ ~$9.6B 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 June 30, 2022* ▪ ~$2.1B of committed facilities i
Slide 7: Capital Forecast (Before Solar Project Delays)
CAPITAL FORECAST (BEFORE SOLAR PROJECT DELAYS) Investment opportunities expected to enhance system safety and reliability while driving shareholder value $3.4 - $3.7B Planned Renewable Generation Investments of ~$2.0B $2.4 - $2.7B Expected delays in solar generation projects are likely to impact ann
Slide 8: Maintaining 2024 EPS Growth Commitment
MAINTAINING 2024 EPS GROWTH COMMITMENT Ensuring customer reliability, rate case flexibility and well-established infrastructure programs are key components Illustrative Capital Investment Plan Adjustments ($B) / 2024 EPS Impacts 1.0 Delayed Renewable Investments • ~$1.0B in-service by 2023 ($0.09 -
Slide 9: 2021 - 2024 Financing Plan
2021 - 2024 FINANCING PLAN* Financing strategy targets long-term Adj. FFO/total debt** of ~14%-15% ($ 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 10: Gas Distribution Operations
GAS DISTRIBUTION OPERATIONS ◦ Final order received approving NIPSCO gas rate case settlement ◦ Pennsylvania rate case parties are in settlement discussions ◦ Maryland rate case filed ◦ Continuing to invest in infrastructure to enhance safety, reliability, customer affordability and sustainability HI
Slide 11: Electric Operations
ELECTRIC OPERATIONS ◦ Renewable generation projects remain on target with previously revised in-service dates ◦ New request for proposal (RFP) for generation resources expected to launch in August HIGHLIGHT KEY COMPONENTS STATUS 2021 Integrated Resource • 2021 RFP solicitation concluded last fall Pl
Slide 12: 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 $2.4B
Slide 13: Safety and Infrastructure Investment and Tracker Filing Details
SAFETY AND INFRASTRUCTURE INVESTMENT AND TRACKER FILING DETAILS INCREMENTAL INVESTMENTS RECOVERY COMPANY MECHANISM PERIOD AMOUNT ($M) EFFECTIVE DATE Infrastructure Replacement Program FY 2020 $212.6 May 2021 Columbia Gas of Ohio (IRP) FY 2021 May 2022 $232.9 FY 2020 $177.2 Sept 2021 Columbia Gas of
Slide 14: Robust Renewable Investments in Indiana
Robust Renewable INVESTMENTS in Indiana NIPSCO Estimated JV Projects Investment Status In Service ($M) Rosewater Wind ~$100 ’20 Complete Indiana Crossroads Wind ~$300 ’21 Complete Dunns Bridge I Solar JV: 265 Dunns Bridge I Solar ~$240 ’23 Under Construction Dunns Bridge II Solar + Storage JV: 435 +
Slide 15: Environmental, Social & Governance (ESG)
ENVIRONMENTAL, SOCIAL & GOVERNANCE (ESG) Environmental Social Governance ◦ Driving toward 90% reduction* ◦ Transformation focused on ◦ Leadership enhancements in scope 1 greenhouse gas customer safety, reliability and support commitment to emissions by 2030, inclusive affordability customer service
Slide 16: Appendix
APPENDIX 2Q 2022 RESULTS NiSource | NYSE: NI | nisource.com |
Slide 17: Liquidity and Capitalization as of 2Q 2022
LIQUIDITY AND CAPITALIZATION AS OF 2Q 2022 ($M) CURRENT LIQUIDITY ACTUAL 6/30/22 MATURITY Revolving Credit Facility $1,850.0 Feb. 18, 2027 Accounts Receivable Programs* 285.0 Less: Drawn on Credit Facility — Commercial Paper 270.0 Accounts Receivable Programs Utilized 285.0 L/C's Outstanding Under C
Slide 18: Schedule 1 - Reconciliation of Consolidated Net Income
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 fuel costs deemed over-collected from customers through the FAC mechanism and ordered to be ref
Slide 19: Schedule 2 - Reconciliation by Segment of Operating Revenues
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
Slide 20: Schedule 2 - Reconciliation by Segment of Operating Revenues
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 | 20