EX-99.1 2 d925997dex991.htm EX-99.1

Exhibit 99.1

NiSource Industry Leading Natural Gas and Electric Utility Company Investor Presentation May 14, 2015

Forward Looking Statements This presentation contains forward-looking statements within the meaning of federal securities laws. These forward-looking statements are subject to various risks and uncertainties. Examples of forward-looking statements in this presentation include statements and expectations regarding future dividends, operating earnings growth, earnings per share growth, capital investments, financing needs and plans, and investment opportunities. Factors that could cause actual results to differ materially from the projections, forecasts, guidance, estimates and expectations discussed in this presentation include, among other things, the timing to consummate the transactions as described herein; the risk that a condition to consummation is not satisfied; disruption to operations as a result of the proposed transactions; the inability of one or more of the businesses to operate independently following the completion of the proposed transactions; weather; fluctuations in supply and demand for energy commodities; growth opportunities for NiSource’s businesses; increased competition in deregulated energy markets; the success of regulatory and commercial initiatives; dealings with third parties over whom NiSource has no control; actual operating experience of NiSource’s assets; the regulatory process; regulatory and legislative changes; changes in general economic, capital and commodity market conditions; and counter-party credit risk, and the matters set forth in the “Risk Factors” section of the Columbia Pipeline Partners LP (“CPPL”) 2014 Form 10K and the matters set forth in the “Risk Factors” section in NiSource’s 2014 Form 10-K, and the risk factors in the Columbia Pipeline Group (“CPG”) Form 10, many of which are beyond the control of NiSource. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. NiSource expressly disclaims any duty to update any of the forward-looking statements contained in this presentation. With regard to the potential distribution of CPG shares – it should be noted that distribution is subject to the satisfaction of a number of conditions, including the final approval of NiSource’s Board of Directors. There is no assurance that such distribution will in fact occur. Regulation G Disclosure Statement Today’s presentation includes guidance with respect to net operating earnings from continuing operations, which is a non-GAAP financial measure as defined by the SEC’s Regulation G. It should be noted that there will likely be differences between such net operating earnings and GAAP earnings due to various factors, including, but not limited to, weather, restructuring costs and accounting changes. NiSource is not able to estimate the impact of such factors on GAAP earnings and, as such, is not providing earnings guidance on a GAAP basis. 2

NiSource and Columbia Pipeline Group Separation Update Bob Skaggs, President & CEO, NiSource Investor Update May 14, 2015

Creating Two Independent, Premier Energy CompaniesPathway to Successful, Expected to Unlock Full Potential for Long-Term Growth Strategy Both Companies Pure-Play Focused on Distinct Growth Opportunities, Businesses Assets and Customers Execution Experienced Teams and Proven Track Records Excellence at Both Companies Investor Investors Attracted to Distinct Investment Alignment Profiles Independent Companies Positioned to Realize Growth Opportunities Creating Long-Term Value for Shareholders 4

Separation Timeline—Creating Two Independent, Premier Companies MLP IPO Complete Credit Agency Review Complete Recapitalization On Schedule SEC Form 10 On Track Separation on Track for July 1, 2015 Expected Record Date for “Separation Dividend” of Columbia Pipeline Group June 19, 2015 (NYSE:NI and NYSE:CPGX) NiSource—100% Regulated Natural Gas & Electric Utility Company 5

Creating Two Independent, Premier Energy Companies Combined Dividends Reflect ~8% Increase Current Annual Dividend $1.04 Expected Initial Annual Dividend—$0.62 Expected Initial Annual Dividend—$0.50 Confidence in Outlook for Both Companies 6

NiSource* Industry Leading Natural Gas and Electric Utility Company Joe Hamrock, President & CEO Donald Brown, EVP & Chief Financial Officer Jim Stanley, EVP & Chief Operating Officer Carl Levander, EVP & Chief Regulatory Officer Investor Update May 14, 2015 * Represents NiSource after separation

NiSource Strategic Framework – Creating Value Aspiration Premier Regulated Utility Company Value Proposition Best-in-Class Risk-Adjusted Total Return Proposition • ~$30B of 100% Regulated Utility Infrastructure Investment Opportunities • Scale Across 7 States • Transparent Earnings Drivers • Constructive Regulatory Relationships and Mechanisms Strategic Approach Balanced Priorities Enhance Value to Our Customers and Communities Build, Maintain and Operate a Safe, Reliable and Efficient System Aligned, Engaged Employees, Business Partners and Operations Financial Discipline for Our Investors Highly Visible 4-6% EPS* and Dividend Growth Projected * Net Operating Earnings from Continuing Operations (Non-GAAP) 8

Premier Utility Businesses Operating on a Large Scale, Diverse Footprint Headquarters: Merrillville, IN NYSE: NI 7-State Footprint Electric Operations Gas Distribution ~3.5M Gas LDC Customers ~500K Electric Customers NIPSCO NIPSCO Columbia Gas Columbia Gas Electric Gas of Kentucky of Maryland Columbia Gas Columbia Gas Columbia Gas Columbia Gas of Massachusetts of Ohio of Pennsylvania of Virginia Delivering on Commitments to Customers, Employees, Communities & Investors9

NiSource Leadership* NiSource Board of Directors Richard L. Thompson (Independent Chairman)—Director Since 2004 Richard A. Abdoo—Director Since 2008 Aristides S. Candris—Director Since 2012 Michael E. Jesanis—Director Since 2008 Carolyn Y. Woo—Director Since 1998 Joe Hamrock—Director Effective 7-1-2015 Joe Hamrock President & CEO Donald Brown Rob Campbell Carrie Hightman Carl Levander Jim Stanley Violet Sistovaris EVP Corporate EVP & EVP & CFO Affairs & HR Chief Legal Officer EVP & CRO EVP & COO EVP NIPSCO Proven Board of Directors and Leadership Team * Represents NiSource after separation 10

NiSource Key Investment Considerations Focused Business Strategy Transparent Earnings Drivers and Attractive Risk-Adjusted Returns ~$30B of Expected Infrastructure Enhancements Over 20+ Years Meet Safety and Reliability Needs Enhance Customer Service and Experience Comply with Environmental Requirements Significant Scale with ~4.0M Customers Across 7 States Investment Grade Credit Ratings Expected EPS* and Dividend Growth of 4-6% Annually Compelling Pure-Play Utility Investment Proposition * Net Operating Earnings from Continuing Operations (Non-GAAP)11

NiSource Key Investment Considerations Transparent, Sustainable Growth Drives Premium Equity Value 2016 Guidance EPS* $1.00—$1.10 CapEx ~$1.4B Expected Initial Annual Dividend of $0.62 per Share (Increase at Separation Consistent with 4-6% Growth) Targeted Dividend Payout Ratio of 60-70% Compelling Pure-Play Utility Investment Proposition * Net Operating Earnings from Continuing Operations (Non-GAAP)12

Business Profile: Pure-Play Utility with 7-State Footprint Gas Distribution Utilities Fully Integrated Electric Utility • Total Rate Base* of • Total Rate Base* of ~$5B ~$3.0B • Constructive Regulatory Electric • Constructive Regulatory Environments Gas Environment Distribution Operations • Significant System • Significant System 65% 35% Environmental, Modernization Investment Programs Enhancement and Modernization Investment • Enhanced Customer Programs Service, Programs and Growth Initiatives • Enhanced Customer Service, Programs and Operating Earnings Growth Initiatives Collaborative, Constructive Stakeholder Relationships * Rate Base as of 12/31/201413

Revenue Profile: Stable, 100% Regulated Revenue Stream Net Revenue* Commercial 25% Non-Volume Residential Volumetric Sensitive 55% ~35% ~65% Industrial 20% Consistently Earning Allowed Returns on Investments * Based on 2014 Financial Results14

A Well-Established Platform of Operations Execution Across 7-States State-by-State Jurisdictional Focus Support by Central Operations Platform • Leverages experienced leadership • Drives efficiencies across operations Delivering for Stakeholders through Platform Efficiency and Operational Focus15

Significant, Long-Term Infrastructure Investments ~$30B Expected Enhancements Provide Over 20+ Years of Visible Growth $30 Generation Investment (~$1.7B) Electric Transmission Investment (~$1.0B) $20 Billions Electric Environmental Investment (~$0.5B) in $ $10 Electric System Modernization (~$6.8B) Gas System Modernization (~$20B) $0 NiSource Investment Inventory Robust Long-Term Investment Opportunities at Each Company 16

Indiana Electric (NIPSCO) Business Profile Rate Design • Third largest electric utility in Indiana • 100% fuel costs pass-through (~500K customers) • ~ 55% net revenue requirement collected through fixed • Fully integrated electric utility charges, tracker, or demand ratchet • 3,300 MW of environmentally compliant generation Customer Mix (Net Revenue) • ~ $3.0B rate base Variable 10% Customer Focus Residential & Industrial Demand Commercial 30% • Fewest customer complaints in Indiana 20% 70% • Top quartile reliability performance • Continued rise in J.D. Power customer satisfaction survey • Steel related customers represent ~15% of net revenues • Industrial rates 75% demand charge weighted Regulatory Environment and Growth Strategy Constructive Legislation • 7-Year, ~ $1.1B T&D infrastructure modernization program with semi-annual tracker filings • Senate Bill 560 – Use of forward test year, timely rate cases, infrastructure investment tracking, rural expansion • Two electric transmission projects underway (~$500M capital investment) for natural gas; Rate case required within 7 years of • All plants fully scrubbed by end of 2015 (~$800M capital investment) original TDSIC filing • Potential for additional environmental, modernization, and transmission • Senate Bill 251 – Cost recovery of federally mandated opportunities to be identified over the next 20+ years requirements Anticipated Growth Investment Summary Typical TDSIC Timeline (Semi-Annual Filings) Total Investment Opportunities ~$10.0B Year 1 Year 2 Sept Filing Dec Annual Investment Range $175-$500M Investment Recovery Mar Filing Jun Program Length 20+ Years Investment Recovery Regulatory Treatment Modern n and Environmental Projec ked17

Indiana Electric (NIPSCO) – Transmission Projects Under the MISO comprehensive transmission expansion plan, NIPSCO is constructing two large Multi Value Projects (MVPs) to meet the reliability needs of the electric system and its customers: Project 1: Reynolds to Topeka • 100 Mile, 345 kV transmission line (Reynolds/Burr Oak/Hiple) • Approved by MISO Board of Directors on December 8, 2011 • FERC approved forward looking rates including CWIP and any potential abandonment costs • CapEx $293M • In Service late 2018 Project 2: Greentown to Reynolds • 66 Mile, 765 kV transmission line (Reynolds/Greentown) • 50/50 Partnership with Pioneer • Approved by MISO Board of Directors on December 8, 2011 • FERC approved forward looking rates including CWIP and any potential abandonment costs • CapEx $330M (NIPSCO = $165M) • In Service late 2018 18

Columbia Gas of Ohio Business Profile Rate Design • Largest LDC in Ohio (~1.4M customers) • Straight fixed variable rate design (fully fixed • ~ 20,000 miles of pipe residential distribution rate) • ~ 3,000 miles of bare steel & cast iron • Bad debt tracked with full recovery • ~ $1.7B rate base • Several other O&M trackers Economic Outlook / Customer Growth Customer Focus • Stable economic environment with modest • Nationally recognized energy customer growth efficiency programs • Energy is central to state economy • Positive trending customer satisfaction Constructive Legislation • House Bill 95 – Utility modernization capital programs Regulatory Environment and Growth Strategy • House Bill 319 – Infrastructure cost recovery for economic development projects • Fully tracked annual Infrastructure Replacement Program (IRP) • Senate Bill 378 – Underground protection and • Ability to defer costs associated with non-tracked investments • Public policy provides tools supporting investment for economic development enforcement and deferral of pipeline safety costs Anticipated Modernization Investment Summary Annual IRP Timeline Total Investment Opportunities ~$4.1B Year 1 Year 2 Annual Investment Range $177-$195M Investment Program Length 20-25 Years Recovery Regulatory Treatment Tracked (IRP) Feb May Filing Weighted Avg Regulatory Lag < 12 Months19

Indiana Gas (NIPSCO) Business Profile Rate Design • Largest LDC in Indiana (~800K customers) • ~60% of residential distribution rate fixed • ~ 17,000 miles of pipe • Low income program fully tracked • ~ 35 miles of bare steel • Regulatory construct encourages gas system expansion into rural areas Economic Outlook / Customer Growth • ~ $800M fair value rate base • Stable economic environment Customer Focus • Customer growth potential through rural extension opportunities • Lowest-cost gas provider in Indiana • Fewest customer complaints in Indiana • Continued rise in J.D. Power customer Constructive Legislation satisfaction survey • Senate Bill 560 – Use of forward test year, timely rate cases, infrastructure investment tracking, rural Regulatory Environment and Growth Strategy expansion for natural gas; rate case required within 7 • 7-Year, ~ $830M Infrastructure Modernization Program with semi-annual years of original TDSIC filing • Senate Bill 251 – cost recovery of federally mandated tracker filings • Additional modernization opportunities identified over next 20+ years requirements Anticipated Growth Investment Summary Typical TDSIC Timeline (Semi-Annual Filings) Total Investment Opportunities ~$4.5B Year 1 Year 2 Sept Filing Dec Annual Investment Range $80-$120M Investment Recovery Mar Filing Jun Program Length 20-25 Years Investment Recovery Regulatory Treatment Tracked Weighted Avg Regulatory Lag < 12 Months20

Columbia Gas of Pennsylvania Business Profile Rate Design • ~420K customers in Pa. • ~ 75% revenue generated by residential customers • ~ 7,400 miles of pipe with 50% fixed distribution rate (assuming average customer usage) • ~ 1,700 miles of bare steel & cast iron (rate of replacement nearly double state avg.) • Weather normalization adjustment for residential • ~ $1.1B rate base customers stabilizes revenue Customer Focus Economic Outlook / Customer Growth • Ranked highest in customer satisfaction • Stable economic environment among midsize gas utilities in eastern U.S., • Tariff program allows for modest customer growth according to J.D. Power 2014 residential • New business tariff proposals pending customer satisfaction study • State leader in universal services, low income initiatives, choice and energy efficiency programs Constructive Legislation Regulatory Environment and Growth Strategy • Act 11 – Allows a gas utility to file a Distribution Service Improvement Charge (DSIC) and rate case • Recovery of infrastructure and other costs through frequent base rate filings with fully forecasted rate year utilizing a forward test year • Base rate cases supplemented by DSIC filings • Tariff supports system expansion by allowing customers payment options for main extension Anticipated Modernization Investment Summary Typical Rate Case Timeline Total Investment Opportunities ~$3.0B Year 1 Year 2 Annual Investment Range $143-$168M Investment Program Length 15-20 Years Mar Recovery Regulatory Treatment Rate Case / Tracker Filing Weighted Avg Regulatory Lag None21

Columbia Gas of Massachusetts Business Profile Rate Design • Largest gas-only LDC in Mass. • Revenue decoupling adjustment provides (~300K customers) residential distribution revenue recovery • ~ 5,000 miles of pipe • Full cost recovery mechanisms for O&M • ~ 1,000 miles of bare steel & associated with energy efficiency and low income cast iron programs, bad debt, and pension costs • ~ $600M rate base Customer Focus Economic Outlook / Customer Growth • Strong customer interest in • Stable economic environment conversion from oil to natural gas • Customer growth potential through conversion • Broad based energy efficiency opportunities program provides full range of customer programs Regulatory Environment and Growth Strategy Constructive Legislation • House Bill 4164 • Modernization/safety investments recovered through annual (forward- – Recovery of pipeline infrastructure investments looking) infrastructure tracker filings based on forward looking tracker • Tracker filings supplemented by periodic rate cases – Allows LDCs to implement various programs to • Customer growth opportunities through natural gas conversions facilitate customer conversion to natural gas Anticipated Modernization Investment Summary Annual Infrastructure Tracker Timeline Total Investment Opportunities ~$1.4B Year 1 Year 2 Annual Investment Range $44-$70M Investment

Program Length 15-20 Years Oct May Regulatory Treatment Tracked Filing Recovery

Weighted Avg Regulatory Lag None22

Columbia Gas of Virginia

Business Profile Rate Design • ~250K customers in Virginia • Revenue normalization adjustments provides full • ~ 5,000 miles of pipe residential distribution revenue recovery • ~ 200 miles of bare steel • Energy conservation tracker • ~ $530M rate base Economic Outlook / Customer Growth Customer Focus • Stable economic environment • Broad residential, commercial and • Customer growth opportunities through system industrial portfolio expansion • Industry leading third party damage • Initiatives in place to promote customer conversions rate and growth Regulatory Environment and Growth Strategy Constructive Legislation • DIMP Act – Allows deferral of incremental O&M costs related • Forward looking annual modernization/safety infrastructure investment to pipeline safety programs tracker filings • SAVE Act – Allows recovery of investment on infrastructure replacement • Tracker filings supplemented by rate case filings with forward test year • NEED Act – Allows deferral of infrastructure expansion costs • Annual infrastructure cost recovery filings • MAIN Act – Provides for recovery of infrastructure expansion • System expansion opportunities through NEED and MAIN legislation program costs Anticipated Modernization Investment Summary Annual Infrastructure Tracker Timeline Total Investment Opportunities ~$550M Year 1 Year 2 Annual Investment Range $20-$30M Investment Program Length N/A July Regulatory Treatment Tracked Filing Recovery Weighted Avg Regulatory Lag None 23

Columbia Gas of Kentucky Business Profile Rate Design ~135K customers in Ky. • ~ 65% of revenue generated by residential customers ~ 2,600 miles of pipe with a 60% fixed distribution rate ~ 430 miles of bare steel & • Weather normalization adjustment for residential and cast iron commercial customer stabilizes revenue ~ $235M rate base • Energy conservation tracker Economic Outlook / Customer Growth Customer Focus Stable economic environment with improving Top tier customer satisfaction customer growth rates levels Sustained industry leading employee safety performance Constructive Legislation House Bill 100 – allows government financing for Regulatory Environment and Growth Strategy energy efficiency improvements Annual modernization/safety infrastructure investment tracker filings • State law also provides for tracked recovery of pipeline replacements and permits use of forward test Tracker filings supplemented by rate case filings with forward test year year in rate cases Anticipated Modernization Investment Summary Annual Infrastructure Tracker Timeline Total Investment Opportunities ~$750m Year 1 Year 2 Annual Investment Range $12-$14M Investment Program Length 25-30 Years Oct Recovery Regulatory Treatment Tracked Filing Weighted Avg Regulatory Lag None24

Columbia Gas of Maryland Business Profile Rate Design • ~33K customers in Md. • Revenue normalization adjustment provides full • ~ 750 miles of pipe residential distribution revenue recovery • ~ 95 miles of bare steel & cast iron • Energy efficiency tracker • ~ $60M rate base Customer Focus Economic Outlook / Customer Growth • Sustained industry leading employee • Stable economic environment with modest and system safety performance customer growth Regulatory Environment and Growth Strategy Constructive Legislation • Forward looking annual Infrastructure Replacement and Improvement • STRIDE — prospective cost recovery for age and Surcharge (IRIS) recovers age and condition investment condition investment • IRIS filings supplemented by periodic rate cases • Opportunity to update other costs between rate cases Anticipated Modernization Investment Summary Annual IRIS Timeline Year 1 Year 2 Total Investment Opportunities ~$200M Annual Investment Range $6-$14M Investment Program Length 15-20 Years Nov Filing Recovery Regulatory Treatment Tracked Weighted Avg Re gulatory Lag None 25

NiSource Utility Company Summary Highly Visible ~$30B / 20+ Year Infrastructure Investment Opportunity Complementary rate structures and tracker Industry-leading regulated natural gas and mechanisms; ~75% of CapEx expected to be electric utilities company platform revenue-producing Track record of collaborative execution and Disciplined capital management; solid, safe, reliable service investment-grade credit rating Expand Programs & Grow Customer Base ~$1.4B Enhance Electric 4-6% Expected Transmission System Expected Annual Modernize Gas & EPS* & Capital Electric Infrastructure Dividend Investment Growth Driving Predictable Long-Term Earnings and Dividend Growth* Net Operating Earnings from Continuing Operations (Non-GAAP)26

Financial Profile Donald Brown, EVP & Chief Financial Officer CONFIDENTIAL DRAFT | September 10, 2014

NiSource Utilities Capital Expenditures Annual Investments Driven by ~$30B / 20+ Year Opportunities $1.3B $1.4B $1.3B $1.2B $1.1B $0.8B $0.6B 72% 75% $0.5B 78% 74% 78% 67% 59% 54% 26% 22% 28% 25% 46% 33% 22% 41% 2009 2010 2011 2012 2013 2014 2015E 2016E Maintenance Growth/Tracker Expected Annual Capital Investments Grow Rate Base by 6-8% per Year28

NiSource Utilities Consistent Earnings Growth Historical Operating Income** Expected 4-6% $950 ($ Millions) Long-Term EPS* & Dividend Growth $850 $750 2016 Guidance $650 • Earnings Per Share (EPS*) $1.00—$1.10 $550 • Expected Initial Annual Dividend of $0.62 per $450 Share Following Separation $350 $250 2016E … 2009 2010 2011 2012 2013 2014 Solid Track Record of Operating Earnings Growth * Net Operating Earnings from Continuing Operations (Non-GAAP) ** Historical NiSource Gas Distribution and Electric Operations Reported Operating Income29

NiSource Debt and Credit Profile* Recapitalization Reduces NiSource Net Debt NiSource Long-Term Debt Profile at Separation • Weighted Average Maturity of ~14 years • Weighted Average Rate of ~5.8% Solid Liquidity • $1.5B / 5-Year Committed Credit Facility in Place at Separation • Minimal Balance at Separation Stable Investment Grade Credit Ratings Expected at All Three Agencies Committed to Stable Investment Grade Credit * Projected as of July 1, 201530

NiSource Primary Sources & Uses of Cash (Illustrative) Annual Net Funding Requirement ($400M-$500M) DRIP (~$50M) Growth CapEx (~$1,000M) Maintenance CapEx Funds From Operations (~$350M) (~$1,100M) Dividend (~$200M) Primary Uses Primary Sources Expected Long-Term 4-6% EPS* Growth Inclusive of Funding Needs * Net Operating Earnings from Continuing Operations (Non-GAAP)31

NiSource Key Investment Considerations Compelling Pure-Play Utility Investment Proposition Focused Business Strategy ~$30B of Expected Infrastructure Enhancements Over 20+ years Significant Scale with ~4.0M Customers Across 7 States Investment Grade Credit Ratings Expected Earnings and Dividend Growth of 4-6% Annually 2016 Guidance EPS* $1.00—$1.10 CapEx ~$1.4B Expected Initial Annual Dividend of $0.62 per Share Targeted Dividend Payout Ratio of 60-70% Transparent, Sustainable Growth Drives Premium Equity Value * Net Operating Earnings from Continuing Operations (Non-GAAP)32

Appendix

NiSource Leadership Team* Joe Hamrock President & Chief Executive Officer • Previously, Hamrock was Executive Vice President & Group CEO for NiSource’s Gas Distribution segment • Hamrock joined NiSource in May 2012 after serving in a variety of senior executive positions with American Electric Power Donald Brown Executive Vice President & Chief Financial Officer • Brown joined NiSource in April 2015 after serving as Vice President and Chief Financial Officer at UGI Utilities, a division of UGI Corporation • Brown has also served in a variety of financial leadership and consulting roles at Constellation Energy, Progress Energy and Deloitte Jim Stanley Executive Vice President & Chief Operating Officer • Previously, Stanley was Executive Vice President & Group CEO for NiSource’s Indiana gas and electric utility, NIPSCO • Stanley joined NiSource in October 2012 after serving in a variety of senior executive positions in the utility industry, most recently as Senior Vice President and Chief Distribution Officer for Duke Energy’s U.S. electric business * These represent announced future positions at NiSource34

NiSource Leadership Team Carrie Hightman Executive Vice President & Chief Legal Officer • Prior to joining NiSource in 2007, Hightman served as President of AT&T Illinois • Previously, Hightman was a partner at the Chicago law firm of Schiff Hardin, where she led its Energy, Telecommunications and Public Utilities practice group Carl Levander Executive Vice President & Chief Regulatory Officer • Previously, Levander was President of Columbia Gas of Virginia, NiSource’s natural gas distribution subsidiary based in Virginia • Levander began his career with Columbia Gas as an attorney in 1986 and has served in a variety of rates and regulatory positions35

NiSource Leadership Team* Rob Campbell Executive Vice President, Corporate Affairs & Human Resources • Previously, Campbell was Senior Vice President of Human Resources • Campbell also was employed at NiSource in executive roles from June 2001 through January 2004, before returning to the law firm of Schiff Hardin LLP Violet Sistovaris Executive Vice President, NIPSCO • Previously, Sistovaris was Senior Vice President & Chief Information Officer • Sistovaris has served in a variety of executive positions at NiSource since joining the company in 1994 from Centier Bank * These represent announced future positions at NiSource36

NiSource Leadership Team Brent Archer President, Columbia Gas of Virginia • Previously, Archer served in a variety of leadership positions at the Columbia Gas companies, most recently as Director of Business Policy at Columbia Gas of Virginia • Archer joined Columbia Gas in 1986 Steve Bryant President, Columbia Gas of Massachusetts• Previously, Bryant served as Vice President of External Affairs Bryant joined Columbia Gas in 2001 after serving in various marketing and regulatory positions at New England gas utilities Dan Creekmur President, Columbia Gas of Ohio Previously, Creekmur served as Vice President and General Manager of Columbia Gas of Ohio and Vice President of Regulatory Affairs Creekmur joined Columbia Gas of Ohio in 2007 as an attorney37

NiSource Leadership Team Mark Kempic President, Columbia Gas of Pennsylvania/Maryland • Previously, Kempic was Director of Rates and Regulatory Policy • Kempic joined Columbia Gas in 1998 as an attorney. He previously worked for Columbia Gas in a variety of roles from 1979 through 1992 Herb Miller President, Columbia Gas of Kentucky • Miller joined Columbia Gas in 2006 after serving eight years as the Chief Legal Officer and Corporate Secretary of American Water Company for Kentucky, Tennessee and Georgia • Previously, Miller was a partner in the law firm, Stoll, Keenon & Ogden, one of Kentucky’s oldest and largest law firms Kathleen O’Leary President, NIPSCO • Previously, O’Leary was Senior Vice President of Communications and Compliance at NIPSCO • O’Leary has served in a variety of executive positions since joining the company as an attorney for Columbia Gulf Transmission in 197838