Elliott Welcomes Leadership Changes at NiSource (NI), Supports Business Review

Elliott Investment Management L.P. ("Elliott") today released the following statement regarding the management and board changes announced at NiSource (NYSE: NI):

As one of NiSource's largest investors, Elliott welcomes the company's decision to refresh its management and board following our recent dialogue. These changes are steps in the right direction, and we hope that incoming CEO Lloyd Yates is committed to taking the necessary strategic and operational steps to deliver improved value for shareholders and safe, reliable service for customers.

We invested in NiSource in part because it comprises a highly attractive portfolio of fully regulated utility franchises, and we agree with Mr. Yates' commitment to conduct a review of the business, including strategic initiatives. This news is all the more welcome considering the high level of strategic interest in gas and electric utilities at robust valuations, indicating a clear opportunity for NiSource.

We look forward to engaging with Mr. Yates and continuing our dialogue with the company.

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