NiSource Inc. Announces Redemption of All Depositary Shares Representing Interests in Its 6.50% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock and Series B-1 Preferred Stock

NiSource Inc. (NYSE: NI) (“NiSource”) announced today that it will redeem all outstanding shares of its 6.50% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, par value $0.01 per share, liquidation preference $25,000 per share (the “Series B Preferred Stock”) and Series B-1 Preferred Stock, par value $0.01 per share, liquidation preference $0.01 per share (the “Series B-1 Preferred Stock”), and the corresponding depositary shares representing interests in the outstanding shares of the Series B Preferred Stock and the Series B-1 Preferred Stock (the “Depositary Shares”), on March 15, 2024 (the “Redemption Date”).

All 20,000,000 Depositary Shares (NYSE: NI PR B) (CUSIP No. 65473P 881), each representing a 1/1,000^th ownership interest in one share of the Series B Preferred Stock and a 1/1,000^th ownership interest in one share of the Series B-1 Preferred Stock, will be redeemed on the Redemption Date, simultaneously with the redemption of the Series B Preferred Stock and the Series B-1 Preferred Stock, at a redemption price of $25.00001 per Depositary Share.

The previously declared dividends of $406.25 per share of the Series B Preferred Stock (equal to $0.40625 per Depositary Share) for the full regular quarterly dividend period from, and including, December 15, 2023 to, but excluding, March 15, 2024 will be paid separately on March 15, 2024 to holders of record on February 23, 2024 in the customary manner. Accordingly, the redemption price of $25.00001 per Depositary Share does not include any accumulated and unpaid dividends. On and after the Redemption Date, dividends on the redeemed Series B Preferred Stock and the corresponding Depositary Shares will cease to accumulate.

The Depositary Shares are held through The Depository Trust Company (DTC) and will be redeemed in accordance with the procedures of DTC. Payment to DTC for the Depositary Shares will be made by Computershare Inc. and Computershare Trust Company, N.A., collectively, as redemption agent, in accordance with the Deposit Agreement governing the Depositary Shares. The address for the redemption agent is as follows:

Computershare Trust Company, N.A.
Attn: Corporate Actions
150 Royall St.
Canton, MA 02021

About NiSource

References in this press release to “NiSource” refer to NiSource Inc. and “we,” “us” or “our” refer collectively to NiSource and its subsidiaries.

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 486,000 electric customers across six states through its local Columbia Gas and NIPSCO brands. Based in Merrillville, Indiana, NiSource's approximately 7,200 employees are focused on safely delivering reliable and affordable energy to our customers and communities we serve. NiSource is a member of the Dow Jones Sustainability Index - North America. NI-F