PR Newswire | Jan 28, 2022 09:12AM EST

01/28 08:11 CST

Elliott Welcomes Leadership Changes at NiSource, Supports Business Review WEST PALM BEACH, Fla., Jan. 28, 2022

WEST PALM BEACH, Fla., Jan. 28, 2022 /PRNewswire/ -- 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.

About ElliottElliott Investment Management L.P. manages approximately $51.5 billion of assets. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous management. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm.

Media Contact:Stephen Spruiell Elliott Investment Management L.P. (212) 478-2017 sspruiell@elliottmgmt.com

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SOURCE Elliott Investment Management L.P.