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• 2022 guidance narrowed, 2023 guidance initiated
• Regulatory agenda progress continues with electric rate case filed in Indiana, settlement reached in Ohio
• Investor Day event scheduled for noon ET today to provide details of the NiSource long-term plan extension
• Safety, reliability, customer affordability and sustainability remain top priorities

NiSource (NYSE: NI) today announced, on a GAAP basis, net income available to common shareholders for the three months ended September 30, 2022 of $52.0 million, or $0.12 diluted earnings per share, compared to net income available to common shareholders of $49.4 million, or $0.12 diluted earnings per share, for the same period of 2021. For the nine months ended September 30, 2022, on a GAAP basis NiSource's net income available to common shareholders was $518.2 million, or $1.18 diluted earnings per share, compared to net income available to common shareholders of $377.6 million, or $0.91 diluted earnings per share, for the same period of 2021.

NiSource also reported non-GAAP net operating earnings available to common shareholders of $44.6 million, or $0.10 diluted earnings per share, for the three months ended September30, 2022, compared to non-GAAP net operating earnings available to common shareholders of $47.1 million,or $0.11 diluted earnings per share, for the same period of 2021. For the nine months ended September30, 2022, NiSource's non-GAAP net operating earnings available to common shareholders was $427.2 million, or $0.97 diluted earnings per share compared to non-GAAP net operating earnings available to common shareholders of $404.5 million, or $0.98 diluted earnings per share, for the same period of 2021. Schedule 1 of this press release contains a complete reconciliation of GAAP measures to non-GAAP measures.

"This quarter confirms the strong regulatory execution of our team across the NiSource footprint," said NiSource President and CEO Lloyd Yates. "Our continued investments in renewable generation and infrastructure modernization provide predictable earnings growth and deliver safe, reliable energy that drives value for our customers. We look forward to presenting the details of our top-tier, long-term growth plan extension at our Investor Day event today in New York."

The Investor Day event will begin today at noon ET. A link to the webcast is available at nisource.com/InvestorDay2022.

Initiating 2023 and narrowing 2022 earnings guidance; long-term plan extension and details of new plan for 6-8% annual NOEPS growth from 2021 through 2027 contained in the Investor Day release and slides provided today

NiSource narrows its 2022 non-GAAP diluted net operating earnings per share (NOEPS) guidance to $1.44 to $1.46. The company also initiates 2023 guidance of $1.50 to $1.57 non-GAAP diluted NOEPS, consistent with its previous 5-7% annual growth commitment. NiSource reminds investors that it does not provide a GAAP equivalent of its earnings guidance due to the impact of unpredictable factors such as fluctuations in weather and other unusual and infrequent items included in GAAP results.

Northern Indiana Public Service Company (NIPSCO)filed an electric rate case on September 19, its first electric case since 2018. The case requests $291.8 million to support renewable generation and associated transmission projects, grid modernization and customer-centric improvements. New rates would take effect in September 2023, with incremental new charges applied in 2024.

Construction has begun on the Indiana Crossroads II Wind project, which is expected to enter service in 2023. Construction of the Indiana Crossroads Solar and Dunns Bridge Solar I projects continues to move toward in-service dates in the first half of 2023.

Columbia Gas of Ohio has filed a settlement in its rate case. The settlement includes an annual increase in rates of approximately $68.2 million and a return on equity (ROE) of 9.6%. The implementation of new rates is pending approval by the Public Utilities Commission of Ohio.

Columbia Gas of Pennsylvaniahas received a recommended decision supporting approval of a proposed settlement in its rate case. The settlement includes an annual increase in rates of $44.5 million supporting gas line replacement and upgrades for the long-term safety of customers and communities. It also includes a three-year residential energy efficiency pilot program, while balancing costs. The Pennsylvania Public Utility Commission is expected to issue its final decision late November or early December, with new rates in effect December 17.

Columbia Gas of Virginia implemented interim rates on September 28 as its rate case moves forward. The case requests an increase in annual revenues of approximately $40.6 million, net of the SAVE tracker, to continue safety and modernization investments. If the Virginia State Corporation Commission ultimately approves a rate change smaller than what is proposed, the difference will be refunded to customers with interest. A final order is expected in early 2023.

Columbia Gas of Maryland received a Proposed Order in CMD's 2022 Rate Case. It accepts without modification the filed settlement, calling for a $4.8 million revenue increase, with rates effective for service rendered on and after December 9, 2022. The Proposed Order will become a Final Order on November 17, unless the Commission takes steps to modify or reverse it.

Additional information for the quarter ended September30, 2022, is available on the Investors section of www.nisource.com, including segment and financial information and a presentation.