NiSource announces unsuccessful remarketing of Series C Preferred Stock, plans up to $600M equity in 2024

NISOURCE INC.

Unsuccessful final remarketing of Series C Mandatory Convertible Preferred Stock (liquidation preference $1,000 per share) originally issued April 2021.
Will issue up to $600M of equity in 2024 via ATM program; no equity issuances in 2023.
Equity issuances of $200-300M annually expected from 2025-2028 to support base capital plan.
Reaffirms 2023 non-GAAP NOEPS upper half of $1.54-1.60 range; 2024 NOEPS expected $1.68-1.72.
Continues to expect 14-16% Funds From Operations/debt annually for 2023-2028 period.

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