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NEWS FOR IMMEDIATE RELEASE May 5 , 2021 FOR ADDITIONAL INFORMATION Media Dave Rau Corporate Media Relations ( 614 ) 493-8657 drau@nisource.com ● ● MiSource® Investors Randy Hulen VP , Investor Relations and Treasurer ( 219 ) 647-5688 rghulen@nisource.com NiSource Reports First Quarter 2021 Results WWW.NISOURCE.COM Christopher Turnure Director , Investor Relations ( 614 ) 404-9426 cturnure@nisource.com Safety & asset modernization , renewable generation transition , customer affordability remain top priorities Equity unit issuance significantly de - risked financing strategy Renewable generation advances with investments now totaling - $ 2.0B Narrowed 2021 guidance ( diluted NOEPS ) to the upper half of the previous range and reaffirmed all other near- and long - term growth rates outlined at Investor Day MERRILLVILLE , Ind . - NiSource Inc. ( NYSE : NI ) today announced , on a GAAP basis , net income available to common shareholders for the three months ended March 31 , 2021 of $ 281.7 million , or $ 0.72 diluted earnings per share , compared to a net income available to common shareholders of $ 61.8 million , or $ 0.16 diluted earnings per share , for the same period of 2020 . NiSource also reported non - GAAP net operating earnings available to common shareholders of $ 304.8 million , or $ 0.77 diluted earnings per share , for the three months ended March 31 , 2021 , compared to non - GAAP net operating earnings available to common shareholders of $ 290.9 million , or $ 0.76 diluted earnings per share , for the same period of 2020. Schedule 1 of this press release contains a complete reconciliation of GAAP measures to non - GAAP measures . " With the successful completion of last month's convertible issuance , NiSource is well positioned to execute the next stage of our growth plan , driven by safety and asset modernization programs , as well as our electric generation transition strategy , " said NiSource President and CEO Joe Hamrock . " In Indiana , we kicked off our 2021 Integrated Resource Plan ( IRP ) process , which will inform our strategy beyond 2023 , and we initiated four new renewable energy projects in 2021. We continue to expect that our infrastructure and generation investments will drive compound annual growth of 7 to 9 % in diluted net operating earnings per share from 2021 through 2024 while reducing greenhouse gas emissions 90 % by 2030. " 2021 and Long - Term Financial Commitments Reaffirmed NiSource is narrowing its 2021 non - GAAP diluted net operating earnings guidance to $ 1.32 to $ 1.36 per share , which represents the upper half of the previous range . The company expects to make capital investments of $ 1.9 billion to $ 2.1 billion in 2021 . As outlined at its 2020 Investor Day , NiSource continues to expect to grow its diluted net operating earnings per share by 7 to 9 % on a compound annual growth rate basis from 2021 through 2024 , including near - term annual growth of 5 to 7 % through 2023 . 1