Slide 1: Supplemental Slides Fourth Quarter 2019 Earnings
Supplemental Slides Fourth Quarter 2019 Earnings February 26, 2020
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of federal securities laws. Investors and prospective investors should understand that many factors govern whether any forward-looking statement contained herein will be or can be realized. Any one
Slide 3: Key Takeaways
Key Takeaways • Safety Management System (SMS) implementation, system safety enhancements remain the top priority ▪ Independent Quality Review Board appointed; Chief Safety Officer named ▪ Integrated safety, compliance and risk functions across the gas segment ▪ Introduced a Corrective Action Progra
Slide 4: Year End 2019 Financial Highlights
Year End 2019 Financial Highlights Non-GAAP* 2019 2018 Change Net Operating Earnings Available to Common $494.7 $463.3 $31.4 Shareholders ($M) Net Operating Earnings Per Share $1.32 $1.30 $0.02 GAAP 2019 2018 Change Net Income (Loss) Available to Common $328.0 ($65.6) $393.6 Shareholders ($M) Basic
Slide 5: NiSource Debt and Credit Profile
NiSource Debt and Credit Profile • Debt level: ~$9.6B as of December 31, 2019 ▪ ~$7.7B of long-term debt ◦ Weighted average maturity ~17 years ◦ Weighted average interest rate of 4.4% • Solid liquidity position ▪ ~$1.4B in net available liquidity as of December 31, 2019* ▪ ~$2.2B of committed facili
Slide 6: Financing Plan Update
Financing Plan Update NiSource Current Financing Plan* 2019 2020 ($ in Millions) Actual Estimated Equity Common Equity Block None None Planned Issuance ATM (At-The-Market) $229 $200 - $300 ESPP/401K/Other $34 $35 - $60 Long-Term Debt Incremental Long-Term Debt $714 ~$500 Other Financing Non-Converti
Slide 7: Gas Distribution Operations
Gas Distribution Operations • Regulatory initiatives advancing in several states • Continuing to execute infrastructure modernization that enhances system safety, reliability and environmental performance Key Milestones: Highlight Key Components Status • Supports continued replacement of aging pipel
Slide 8: Electric Operations
Electric Operations • Continued execution of seven-year ~$1.2B electric system modernization program • Evaluating second RFP results for replacement capacity • IURC order received on base rate case that supports generation transition strategy Key Milestones: Highlight Key Components Status • Rosewat
Slide 9: Safety Management System (SMS)
Safety Management System (SMS) Integrating Safety, Risk Management and Investment Planning 9
Slide 10: Greater Lawrence Event Costs and Insurance Update - December 31, 2019
Greater Lawrence Event Costs and Insurance Update - December 31, 2019 Event Related Costs and Expenses • Pipeline Replacement and Restoration (Total Cost Through 12/31/2019 = $258M) – replacement of the gas distribution system with modern state-of-the-art plastic mains and service lines, and modern
Slide 11: Appendix: Fourth Quarter 2019 Earnings
Appendix: Fourth Quarter 2019 Earnings
Slide 12: Capital Expenditures
Capital Expenditures Investments Expected to Deliver Customer Value, Enhance System Safety and Reliability Estimated ~ $1.8B ~ $1.9B $1.8B - $1.9B Recovery Period 15% 12% 11% Within ~0-3 Months (Growth) Within ~0-18 Months 54% (Tracker) 62% 68% Periodic Rate Cases (Maintenance/Other) 31% 26% 21% 201
Slide 13: Liquidity and Debt Detail as of Fourth Quarter 2019 ($M)
Liquidity and Debt Detail as of Fourth Quarter 2019 ($M) Actual Current Liquidity Maturity 12/31/2019 Revolving Credit Facility $1,850 Feb. 20, 2024 Accounts Receivable Programs* 353 Less: Drawn on Credit Facility — Commercial Paper 570 Accounts Receivable Programs Utilized 353 L/C's Outstanding Und
Slide 14: Gas Distribution Operations Infrastructure Programs
Gas Distribution Operations Infrastructure Programs Estimated Base Case Year-End Total Modernization Recovery Annual Company Authorized 2019 Rate Identified Program Mechanism ROE Base Investments Modernization Investments Program Columbia Not Specified $3.2B ~$10.4B ~$10.4B $435M - $550M Tracked Gas
Slide 15: Electric Operations Investment Programs and Generation Transition
Electric Operations Investment Programs and Generation Transition Infrastructure Investment Programs Identified Estimated Annual Recovery Base Case Program Investments Investment Mechanism Authorized ROE Infrastructure ~$5.9B ~$190M - $240M Tracked 9.75% Modernization Generation Transition Project P
Slide 16: Regulatory Update
Regulatory Update 2019 Rate Case and Program/Project Activity Company/Filing Summary Timeline Completed BTA for Indiana Crossroads JV between Filed: 10/22/2019 NIPSCO Electric - Wind Project Filing NIPSCO and EDP Renewables (302 MW) Order Received: 2/19/2020 Requested Increase: $2.5M, net of tracker
Slide 17: Safety and Infrastructure Investment and Tracker Filing Details
Safety and Infrastructure Investment and Tracker Filing Details Incremental Investments Recovery Recovery Company Filing Mechanism Investment Investment Effective Date Period Amount ($M) Date FY 2018 $199.6 Feb 2019 May 2019 Columbia Gas of Infrastructure Replacement Ohio Program (IRP) FY 2019 TBD E