Slide 1: NiSource Investor Presentation May 14, 2015
Exhibit 99.1 NiSource Industry Leading Natural Gas and Electric Utility Company Investor Presentation May 14, 2015
Slide 2: Forward-Looking Statements
Forward Examples and other or businesses; NiSource’s Factors” Group NiSource subject Today’s will estimate more plans, likely things, (“CPG”) toof presentation the section Looking expressly the of and be the assets; increased impact the forward-looking differences satisfaction businesses investment
Slide 3: NiSource and Columbia Pipeline Group Separation Update
NiSource and Columbia Pipeline Group Separation Update Bob Skaggs, President & CEO, NiSource Investor Update May 14, 2015
Slide 4: Creating Two Independent, Premier Energy Companies
Creating Two Businesses Companies Assets Positioned Independent, and Customers to Realize PremierGrowth Execution Energy Opportunities CompaniesPathway ExperiencedCreating Teams toand Long-Term Successful, Proven Track Value Expected Records for Shareholders to Unlock Excellence Full 4 at Potential
Slide 5: Expected Separation Timeline
SeparationRecord Expected Timeline—Creating Date for “Separation Two Independent, Dividend” of Premier Columbia Companies PipelineMLP Group IPOJune Complete 19, 2015 Credit (NYSE:NI Agencyand Review NYSE:CPGX) CompleteNiSource—100% Recapitalization On Regulated Schedule Natural SEC Form Gas & 10Elec
Slide 6: Confidence in Outlook for Both Companies
Creating Two Confidence in Independent, Outlook for Both Premier Companies Energy Companies 6 Combined Dividends Reflect ~8% Increase Current Annual Dividend $1.04 Expected Initial Annual Dividend—$0.62 Expected Initial Annual Dividend—$0.50
Slide 7: NiSource Investor Update
NiSource* EVP & Chief Industry Regulatory Leading Officer Natural Investor Gas and Update Electric MayUtility 14, 2015 Company * Represents Joe Hamrock, NiSource President after separation & CEO Donald Brown, EVP & Chief Financial Officer Jim Stanley, EVP & Chief Operating Officer Carl Levander,
Slide 8: NiSource Strategic Framework and Value Proposition
NiSource Infrastructure Customers 6% EPS* Strategic and andInvestment Dividend Communities Framework Growth Opportunities Build, –Projected Creating Maintain • Scale *Value Net and Across Operating Aspiration Operate 7 States aEarnings Premier Safe, • Transparent Reliable Regulated from Continuing a
Slide 9: Premier Utility Businesses, 7-State Footprint
Premier Utility Customers Delivering on NIPSCO Commitments Businesses NIPSCO Operating toColumbia Customers, on Gas a Large Employees, Columbia Scale, Gas Diverse Communities Electric Footprint Gas & Investors9 ofHeadquarters: Kentucky of Merrillville, Maryland Columbia IN NYSE: GasNIColumbia 7-Stat
Slide 10: NiSource Board of Directors and Leadership
NiSource E. Stanley separation Jesanis—Director Violet Leadership* 10 Sistovaris Since NiSource EVP 2008 Corporate Board Carolyn ofEVP Y. Directors Woo—Director & EVPRichard & CFOSince L.Affairs Thompson 1998& Joe HR(Independent Hamrock—Director Chief Legal Chairman)—Director Officer EVP Effective &
Slide 11: Key Investment Considerations
NiSource and Reliability Dividend KeyGrowth Investment Needs Enhance of 4-6% Considerations Annually CustomerCompelling Service Focusedand Business Pure-Play Experience Strategy Utility Comply Transparent Investment with Environmental Earnings Proposition Drivers *Requirements Netand Operating Attra
Slide 12: NiSource at Separation: 2016 Guidance
NiSource at (Increase GAAP)12 Key Separation Investment Consistent Considerations with 4-6% Transparent, Growth) Targeted Sustainable Dividend GrowthPayout DrivesRatio Premium of 60-70% EquityCompelling Value 2016Pure-Play Guidance Utility EPS* $1.00—$1.10 Investment Proposition CapEx ~$1.4B * NetEx
Slide 13: Business Profile: Constructive Regulatory Environments
Business Profile: Constructive Modernization Stakeholder Relationships Regulatory Investment Pure-Play Environments *• Utility Enhanced Rate Base withCustomer as Gas 7-State of Environment 12/31/201413 Footprint ProgramsDistribution Gas Service, Distribution Programs Operations Utilities and •Growth
Slide 14: Revenue Profile: Stable, 100% Regulated
Revenue Profile: Investments * Based Stable, on 2014 100%Financial RegulatedResults14 Revenue Stream Net Revenue* Commercial 25% Non-Volume Residential Volumetric Sensitive 55% ~35% ~65% Industrial 20% Consistently Earning Allowed Returns on
Slide 15: A Well-Established Operating Platform
A Well-Established operations Delivering Platform for Stakeholders of Operations through Execution Platform Across Efficiency 7-States andState-by-State Operational Focus15 Jurisdictional Focus Support by Central Operations Platform • Leverages experienced leadership • Drives efficiencies across
Slide 16: Significant Long-Term Investment Opportunities
Significant, Billions Opportunities Electric Long-Term at Each Environmental Company Infrastructure Investment 16 Investments (~$0.5B) ~$30B in $ $10 Expected Electric Enhancements System Modernization Provide Over (~$6.8B) 20+ Years Gas of System Visible Modernization Growth $30 Generation (~$20B)
Slide 17: Indiana Electric (NIPSCO) Business Profile
and investment) Annual represent Indiana Industrial integrated with transmission semi-annual Filings) Electric ~15% Demand for electric natural Total •of (NIPSCO) Senate net tracker Commercial utility Investment revenues gas; Bill charges, filings Rate Business 251•case 30% Opportunities Industrial
Slide 18: Indiana Electric Transmission Projects
Indiana system electric forward Partnership $165M) Electric looking • Inwith Service and (NIPSCO) rates Pioneer itslate including customers: 2018 • Approved – Transmission 18CWIP Project byand MISO 1:any Projects Reynolds Board potential Under of to Directors abandonment Topeka the MISO • 100 on com
Slide 19: Columbia Gas of Ohio Business Profile
Columbia bare Nationally programs Bill pipeline 20-25378 steel Years safety –Regulatory & Gas Underground recognized Recovery cast of costs iron Ohio Anticipated Environment •energy Regulatory Business Bad protection debt customer Profile tracked Modernization Treatment and •Growth growth Rate Abili
Slide 20: Indiana Gas (NIPSCO) Business Profile
Indiana of growth survey Year, identified Investment bare ~ •steel potential $830M Gas Senate over Range (NIPSCO) • Regulatory next Infrastructure Bill through $80-$120M 20+ 560Business years –rural construct UseModernization requirements extension Investment ofProfile forward encourages Rate opport
Slide 21: Columbia Gas of Pennsylvania Business Profile
Columbia customer Focus according Constructive costs options Program through Economic for Length usage) to Gas main J.D. Legislation frequent of•15-20 extension Outlook Power Pennsylvania ~ 1,700 base Years 2014 Regulatory /miles Anticipated Customer rate Mar residential Business filings ofRecovery
Slide 22: Columbia Gas of Massachusetts Business Profile
Columbia of Economic opportunities (forward- various Timeline Weighted pipe •programs Full Total Avg –Gas Outlook Recovery cost program Regulatory of Investment Massachusetts to recovery / •Customer Customer of provides pipeline Lag Opportunities mechanisms None22 Growth full growth Business infrast
Slide 23: Columbia Gas of Virginia Business Profile
Columbia Business conservation industrial DIMP investment filings Infrastructure WeightedAct • MAIN Profile Avg portfolio Gas –on Allows tracker Tracker infrastructure Regulatory of Act Rate Virginia expansion –deferral •Provides Design Timeline ~ $530M Lagreplacement of••None for ~250K incremental
Slide 24: Columbia Gas of Kentucky Business Profile
Columbia steel Focus allows tracked Annual Tracked &Stable government •recovery Infrastructure Filing Weather Gaseconomic of Weighted of Kentucky normalization financing pipeline Tracker environment Avg Business replacements for Regulatory Timeline adjustment Regulatory with Profile Total Lag improv
Slide 25: Columbia Gas of Maryland Business Profile
Columbia steel safety recovery Modernization Regulatory &performance cast for Gas Treatment iron age of Investment •and Maryland Energy customer Surcharge Tracked efficiency Summary Business growth Weighted (IRIS) tracker Annual Regulatory Profile recovers Avg•Rate IRIS ~ Re$60M age Environment gula
Slide 26: Driving Predictable Earnings and Dividend Growth
NiSource of Expand Driving CapExPrograms Predictable Utility expected Company &to Long-Term Grow be electric Customer Summary Earnings utilities Base Highly company and ~$1.4B Visible Dividend platform Enhance ~$30B Growth* revenue-producing Electric / 20+Net Year 4-6% Operating Infrastructure Expec
Slide 27: Financial Profile
Financial Profile Donald Brown, EVP & Chief Financial Officer CONFIDENTIAL DRAFT | September 10, 2014
Slide 28: Utilities Capital Expenditures
NiSource 25% 46% Utilities 33% 22% Capital 41% 2009 Expenditures 2010 2011Annual 2012 Investments 2013 2014 2015E Driven2016E by ~$30B Maintenance / 20+ Year Growth/Tracker Opportunities Expected $1.3B $1.4B Annual $1.3B Capital $1.2BInvestments $1.1B $0.8BGrow $0.6B Rate 72%Base 75%by$0.5B 6-8% 78%
Slide 29: Utilities Operating Earnings
NiSource Utilities $1.00—$1.10 Operating Earnings $550Consistent •from Expected Continuing Earnings Initial Operations Annual GrowthDividend Historical (Non-GAAP) of Operating $0.62**per Historical $450 Income** Share NiSource Expected Following Gas 4-6% Separation Distribution $950 ($350 Millions)
Slide 30: Liquidity and Credit Profile
NiSource Liquidity Grade Credit •Debt $1.5B * Projected and/ 5-Year CreditasProfile* Committed of July Recapitalization 1, 201530 Credit FacilityReduces in PlaceNiSource at Separation Net Debt • Minimal NiSource Balance Long-Term at Separation Debt Profile Stable at Investment Separation Grade • Wei
Slide 31: Illustrative Sources and Uses of Cash
NiSource Primary (~$1,100M) Dividend Sources (~$200M) & UsesPrimary of CashUses (Illustrative) Primary Sources Annual Net Expected Funding Long-Term Requirement 4-6%($400M-$500M) EPS* Growth Inclusive DRIP (~$50M) of Funding Growth Needs CapEx * Net(~$1,000M) Operating Earnings Maintenance fromCapEx
Slide 32: Key Investment Considerations
NiSource ~4.0M $0.62 per Customers Key Investment Share Targeted Across Dividend 7Considerations States Investment PayoutCompelling Ratio Grade of 60-70% Credit Pure-Play Ratings Transparent, Utility Expected Investment Sustainable Earnings Proposition Growth and Dividend Drives Focused Premium Grow
Slide 33: Appendix
Appendix
Slide 34: NiSource Leadership Team
NiSource in serving Energy joined business MayNiSource 2012 and as*Leadership Vice These Deloitte after President in represent serving October Jim Team* Stanley and inannounced 2012 Joe aChief variety Executive Hamrock after Financial of future serving senior President Vice positions Officer inexecu
Slide 35: NiSource Leadership Team
NiSource the President regulatory Chicago of Leadership positions35 law Columbia firm Team ofGas Schiff of Carrie Virginia, Hardin, Hightman where NiSource’s Executive she led natural itsVice Energy, gasPresident distribution Telecommunications & Chief subsidiary Legal based Officer and Public in•Vi
Slide 36: NiSource Leadership Team
NiSource & President NiSource36Leadership in Chief executive Information Team* roles from Rob Officer June Campbell 2001 • Sistovaris Executive throughhas January Vice served President, 2004, in a variety before Corporate of returning executive Affairs to positions the &law Human firm at NiSource Re
Slide 37: NiSource Leadership Team
NiSource Policy Columbia GeneralatManager Columbia Leadership Gas in 2001 ofGas Columbia Team after of Virginia Brent serving GasArcher of •inArcher Ohio various President, and joined marketing ViceColumbia Columbia President and regulatory Gas Gas of Regulatory in of 1986 Virginia positions Steve A
Slide 38: NiSource Leadership Team
NiSource He Legal largest joining previously Officer law theLeadership company firms and worked Kathleen Corporate as Team for an Columbia attorney O’Leary Mark Secretary Kempic for President, Gas of Columbia in American President, a variety NIPSCO Gulf Water Columbia ofTransmission roles • Previous