NiSource Demonstrates Commitment to Furthering a More Sustainable and Inclusive Future through 2024 ESG Report

Report highlights progress towards reducing emissions, executing a new biodiversity strategy, helping ensure an inclusive workforce and community investment

MERRILLVILLE, Ind.--(BUSINESS WIRE)--NiSource Inc. (NYSE: NI), one of the nation’s largest fully-regulated utility companies, released its 2024 ESG Report – Creating Shared Value today. The report highlights progress on key initiatives designed to make a difference in the communities NiSource serves while maintaining value for customers and enabling thoughtful growth.

“Management’s Discussion and Analysis of Financial Condition and Results of Operations”

These initiatives include continuing to diversify our energy options by including low-carbon fuels and renewable energy sources, evolving our gas and electric systems operations, and structuring our offerings to help ensure NiSource services are affordable, accessible, and an excellent value to our customers.

“Serving as the backbone of a thriving economy, utilities can meet the challenges of transitioning to cleaner energy in a balanced way that serves the interests of our communities while protecting the environment,” said Lloyd Yates, NiSource President and Chief Executive Officer. “We are proud to be one of the leaders in the industry finding innovative approaches to a sustainable and resilient energy future.”

Key highlights from the report:

• Driving Towards a Net-Zero Future — Committed approximately $4 billion of cumulative generation transition investments and continued progress towards delivering net-zero greenhouse gas emissions by 2040.
• Investing in our Communities — Advanced economic inclusion initiatives and increased our diverse supplier spend to 19%, keeping us on track to achieve our goal of 25% diverse supplier spend by 2025.
• Ensuring a Diverse and Inclusive Workplace — Since 2023, NiSource has increased the number of diverse and female officers and increased spending with diverse supply partners to help establish a society where no one is left behind.
• Leading with Integrity — Refreshed 25% of the Board in the last two years, adding cybersecurity, financial, and industry experience.

“A sustainable and resilient energy future must include a holistic approach to meet the needs of both people and the environment,” said Melody Birmingham, NiSource Executive Vice President & Group President, Utilities. “The NiSource ESG framework helps ensure the strategic business decisions we make today meet the needs of generations to come.”

NiSource’s 2024 ESG report is available on our website at https://www.NiSource.com/2024ESGReport.

About NiSource

NiSource Inc. (NYSE: NI) is one of the largest fully-regulated utility companies in the United States, serving approximately 3.3 million natural gas customers and 500,000 electric customers across six states through its local Columbia Gas and NIPSCO brands. The mission of our approximately 7,400 employees is to deliver safe, reliable energy that drives value to our customers. NiSource is a member of the Dow Jones Sustainability - North America Index and is on Forbes lists of America’s Best Employers for Women and Diversity. Learn more about NiSource’s record of leadership in sustainability, investments in the communities it serves and how we live our vision to be an innovative and trusted energy partner at www.NiSource.com. NI-F

Forward-Looking Statements

This press release contains “forward-looking statements,” within the meaning of Section 27A of the Securities, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements in this press release include, but are not limited to, statements concerning our plans, strategies, objectives, expected performance, and any and all underlying assumptions and other statements that are other than statements of historical fact. 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 of those factors could cause actual results to differ materially from those projected. Expressions of future goals and expectations and similar expressions, including “may,” “will,” “should,” “could,” “would,” “aims,” “seeks,” “expects,” “plans,” “anticipates,” “intends,” “believes,” “estimates,” “predicts,” “potential,” “targets,” “forecast,” and “continue,” reflecting something other than historical fact are intended to identify forward-looking statements. All forward-looking statements are based on assumptions that management believes to be reasonable; however, there can be no assurance that actual results will not differ materially.

Factors that could cause actual results to differ materially from the projections, forecasts, estimates and expectations discussed in this press release include, among other things, our ability to execute our business plan or growth strategy, including utility infrastructure investments; potential incidents and other operating risks associated with our business; our ability to work successfully with our third-party investors; our ability to adapt to, and manage costs related to, advances in technology, including alternative energy sources and changes in laws and regulations; our increased dependency on technology; impacts related to our aging infrastructure; our ability to obtain sufficient insurance coverage and whether such coverage will protect us against significant losses; the success of our electric generation strategy; construction risks and supply risks; fluctuations in demand from residential and commercial customers; fluctuations in the price of energy commodities and related transportation costs or an inability to obtain an adequate, reliable and cost-effective fuel supply to meet customer demand; our ability to attract, retain or re-skill a qualified, diverse workforce and maintain good labor relations; our ability to manage new initiatives and organizational changes; the actions of activist stockholders; the performance and quality of third-party suppliers and service providers; potential cybersecurity attacks or security breaches; increased requirements and costs related to cybersecurity; any damage to our reputation; the impacts of natural disasters, potential terrorist attacks or other catastrophic events; the physical impacts of climate change and the transition to a lower carbon future; our ability to manage the financial and operational risks related to achieving our carbon emission reduction goals, including our Net Zero Goal (as defined in our Annual Report on Form 10-K for the year ended December 31, 2023); our debt obligations; any changes to our credit rating or the credit rating of certain of our subsidiaries; adverse economic and capital market conditions, including increases in inflation or interest rates, recession, or changes in investor sentiment; economic regulation and the impact of regulatory rate reviews; our ability to obtain expected financial or regulatory outcomes; economic conditions in certain industries; the reliability of customers and suppliers to fulfill their payment and contractual obligations; the ability of our subsidiaries to generate cash; pension funding obligations; potential impairments of goodwill; the outcome of legal and regulatory proceedings, investigations, incidents, claims and litigation; compliance with changes in, or new interpretations of applicable laws, regulations and tariffs; the cost of compliance with environmental laws and regulations and the costs of associated liabilities; changes in tax laws or the interpretation thereof; and other matters set forth in Item 1, “Business,” Item 1A, “Risk Factors” and Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, and our subsequent SEC filings, some of which risks are beyond our control.

All forward-looking statements are expressly qualified in their entirety by the foregoing cautionary statements. We undertake no obligation to, and expressly disclaim any such obligation to, update or revise any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events or changes to the future results over time or otherwise, except as required by law.

Reginald Fields
+1 (614) 537-7943
reginaldfields@nisource.com