NiSource Inc

Hello and welcome to NYSOR's first quarter 2026 earnings conference call. Please note that this call is being recorded. After the speaker's prepared remarks, there will be a question and answer session. If you'd like to ask a question during that time, please press star followed by one on your telephone keypad. Thank you. I would now like to turn the call over to Turgesh Chopra, Chief Head of Investor Relations. Please go ahead.

Thank you. Good morning and welcome to NYSource's first quarter 2026 investor call. Joining me today are President and Chief Executive Officer Lloyd Yates, Executive Vice President and Chief Financial Officer Sean Anderson, Executive Vice President of Technology, Customer, and Chief Commercial Officer Michael Loewers, and Executive Vice President and Group President of NYSource Utilities, Melody Birmingham. Today we'll review NYSource's financial performance for the first quarter and share updates on operations, strategy, and growth drivers. Then we'll open the call for your questions. Slides for today's call are available in the investor relations section of our website. Some statements made during this presentation will be forward looking. These statements are subject to risks, and uncertainties that could cause actual results to differ materially from those expressed in the statements. Information concerning such risks and uncertainties is included in the risk factors and NDA sections of our periodic SEC files. Additionally, some statements made on this call relate to non-GAAP financial measures. please refer to the supplemental slides, segment information, and full financial schedules for information on the most directly comparable gap measure and a reconciliation of these measures. With that, I'll turn the call over to Lloyd.

Thank you, Durgesh, and good morning, everyone. We appreciate you joining us today. I'll begin on slide three. At NYSORES, our mission is to deliver safe, reliable and competitive energy that drives value for our customers. Our discipline, capital deployment, operational excellence and constructive regulatory frameworks remain the foundation of our business strategy. The first quarter of 2026 reflects continued execution of this strategy, supported by a robust regulatory foundation, ongoing operational improvements and a commitment to our customers. nicehorse's value proposition is anchored in regulated utility operations across six highly constructive jurisdictions providing diversification in both asset mix and regulatory environment as we continue to modernize our electric and gas infrastructure we are delivering on our core objectives by advancing innovative solutions such as nipsco genco partnering with amazon and now and now alphabet to recognize higher and faster savings to customers. In addition to the announcements made a few weeks ago, I am pleased to share another expansion, an incremental 400 megawatts of capacity serving Amazon. Given the present inflationary climate, the value of these partnerships is tremendous, unlocking cost savings totaling approximately $1.4 billion for our existing customers over the next 15 years. Moving to slide four, collaborative regulatory and stakeholder relationships while operating with excellence paves the way for NYSource to execute on its financial commitments. NYSource continues to work alongside stakeholders through regulatory processes to ensure resources are available for critical investments to protect our system, serve our customers reliably, and grow local economies, all while balancing the impact these investments have on our customers. Working collaboratively with stakeholders, we're able to support enhanced rate-making practices in our jurisdictions and advance legislative priorities, such as Indiana House Bill 1002 and Ohio Senate Bill 103, to help ensure fair, balanced outcomes for our customers and our communities. A key tenet to our operating plan is to work efficiently and improve our systems and processes, leveraging AI and technological upgrades to improve both efficiency and reliability for our customers. Today, we reported first quarter 2026 consolidated adjusted EPS of $1.06, which accounts for 52% of our projected midpoint earnings guidance. We are reaffirming our 2026 consolidated adjusted EPS guidance of $2.02 to $2.07 per share, and we are increasing our consolidated adjusted EPS CAGR 100 basis points for 2023 to 2033 to 9% to 10% towards the high end of that range through 2030, driven by the robust portfolio of investment opportunities supporting data centers. Turning to slide five, At NYSORS, safety remains our top priority and the foundation of operational excellence and our first quarter results reflect the strength of that commitment. We delivered the safest first quarter on record for employee injuries dating back to 2016 through strong winter preparedness and disciplined field execution. We also continue to advance our proactive risk reduction programs across the system completing over 11,000 miles of leak survey in the quarter, helping identify and mitigate 113 large volume leaks well above plan. We exceeded our targets for both electric pole inspections and replacements for the quarter and maintained strong execution in our cross-border program, reinforcing the long-term resilience of our infrastructure. These results underscore the operational discipline of our teams and our continued commitment to delivering safe, reliable service across our footprint. The Apollo Continuous Improvement Team is focused on boosting operational efficiency via programs like Fleet Focus to reduce idling in right-side fleets, streamlining IT applications, and using AI to improve permitting, invoicing, and locate screening. AI and analytics are improving night sources operations via the work management intelligence platform. Enhanced spend visibility and supply chain enables faster procurement, while AI contract tools have increased productivity over 20%. These solutions are expanding to customer and back office functions for greater efficiency and service quality. We continue to engage proactively with stakeholders and regulators in all jurisdictions as shown on slide six. Our regulatory strategy is informed by thoughtful, careful consideration of customer affordability and cost pressures, ensuring we proceed in a manner that balances these concerns. As a strategic organization, we adapt to evolving sensitivities, ensuring we operate with both efficiency and effectiveness as we navigate new opportunities and challenges. We remain committed to engaging transparently throughout the regulatory process, providing timely updates to stakeholders on our investment plans and priorities only as they advance through proper channels. This approach ensures all parties are informed while respecting regulatory protocols and supporting safe, reliable service. Leveraging riders, as consistently practiced in Ohio and other states, enables us to address affordability issues for customers by minimizing the need for frequent rate cases and by better timing capital allocation and recovery. This method supports continued investment in our infrastructure, maintaining safety and reliability, while offering a balanced solution for system integrity and customer interest. We also support legislation such as Indiana House Bill 1002, that adopts measures like levelized billing to protect customers from bill fluctuations caused by weather-related usage spikes. In Pennsylvania, we have flexibility in our plan to address system modernization at a pacing method of recovery which reflects stakeholders' feedback while also ensuring service can be safely delivered. As we prioritize supporting our communities through capital investment, that ensure safe, reliable service and foster economic development, we are in active dialogue with stakeholders to highlight the value of our partnership and investments. In March, NIPSCO has issued a second federal order requiring the continued operation of our Shaper Coal Plan. Our plan incorporates flexibility to accommodate this directive, reflecting our commitment to full regulatory compliance while maintaining customer affordability, financial stability, and reliability. We're finding ways to drive direct savings to our customers by entering into strategic partnerships with data center customers. By leveraging the Genco regulatory model, our agreements with Alphabet and Amazon are expected to deliver annual savings up to $124 per year for residential customers, offering greater benefits that now accelerate a timeline than initially forecasted. Our commitment remains to transparently communicate with all stakeholders, providing timely updates on regulatory outcomes, project development, and anticipated benefits for both customers and communities. Our priority is delivering sustainable solutions that fulfill present and future demands while maintaining our promise of value and excellence in service. With that, I'll turn it over to Michael Lors to dive deeper into these new data center strategies.