Sale of a 19.9% Ownership Interest in NIPSCO

ENHANCED NISOURCE VALUE PROPOSITION DRIVING SUSTAINABLE GROWTH $30B Planned Long-Term Infrastructure Investments over the next 10 years Net Zero By 2040² Driving Toward 14% -16% Long-term FFO/ Debt Target 90% Reduction in GHG Emissions by 2030 100% Regulated Across Six Constructive Jurisdictions 6% -8% Expected Annual NOEPS¹ Growth Through 2027 8% -10% Expected Annual Utility Rate Base Growth Significant Investment Opportunities 60% -70% Targeted Annual Dividend Payout Ratio 9%-11% Expected Annual Flat O&M Total Shareholder Return Operational excellence drives affordability FINANCIAL FOUNDATION Efficient Recovery Mechanisms We exist to deliver safe, reliable energy that drives value to our customers NiSource | NYSE: NI| nisource.com | ♥M ~$16.6B Regulated Electric and Gas Rate Base 3 Strengthened Balance Sheet 1 Net Operating Earnings Per Diluted Share (Non-GAAP) Goal for Scope 1 and 2 emissions 2 3 Estimated total shareholder return at a constant P/E ratio 3

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