business strategy, including a 50 percent reduction of greenhouse gas emissions from 2005 levels by 2025. • Shareholder Value: We delivered strong net operating earnings per share (NOEPS)* and dividend growth, and continued to provide double-digit total shareholder return. INVESTMENTS DRIVE 2017 PERFORMANCE, FUTURE GROWTH In 2017, NiSource invested a record $1.7 billion in capital programs. These investments are enhancing the safety, reliability and environmental performance of our systems, while also supporting improved customer service and employee training and development. In our natural gas business, we replaced 377 miles of priority pipe, which drove continued reductions in leaks and methane emissions. In our electric business, we replaced nearly 70 miles of underground cable and more than 1,300 poles, improving service reliability for our Indiana customers. We’re also nearing completion of two large electric transmission projects, which will further support service reliability and improve access to regional power supplies. Supporting these programs is a balanced regulatory strategy that considers the value delivered for customers and sustained, fair returns for our investors. This approach helped us deliver non-GAAP net operating earnings per share* of $1.21 in 2017, slightly above our guidance range for the year, and 11 percent higher than 2016. The 2 $30B IDENTIFIED LONG-TERM INVESTMENTS $1.21 2017 NET OPERATING EPS* $0.39 2017 GAAP EPS 19.3% TOTAL SHAREHOLDER RETURN $1.26-$1.32 2018 NET OPERATING EPS* 2018 CAPEX PROJECTED PROJECTED 5-7% THROUGH 2020 ANNUAL EPS* DIVIDEND GROWTH PROJECTED $1.7B-$1.8B $0.78 PER SHARE ANNUAL DIVIDEND FOR 2018 $0.70 PER SHARE ANNUAL DIVIDEND FOR 2017 377 MILES PRIORITY PIPE REPLACED IN 2017 * Net operating earnings per share (non-GAAP); for a reconciliation to GAAP, see Schedule 1 on page 22; see also Regulation G statement on inside back cover.