NISOURCE INC.

7. Short-Term Borrowings

We generate short-term borrowings from our revolving credit facility, commercial paper program, and accounts receivable transfer programs. Each of these borrowing sources is described further below.

Revolving Credit Facility. We maintain a revolving credit facility to fund ongoing working capital requirements, including the provision of liquidity support for our commercial paper program, the issuance of letters of credit and general corporate purposes. Our revolving credit facility has a facility limit of $2.50 billion and is comprised of a syndicate of banks. We hadno outstanding borrowings under this facility as of March 31, 2026 and December 31, 2025, respectively.

Commercial Paper Program. In March 2026, we increased our commercial paper program limit from $1.85 billion to $2.50 billion. We had $1,291.0 million and $736.0 million of commercial paper outstanding with weighted-average interest rates of 4.12% and 3.92% as of March 31, 2026 and December 31, 2025, respectively.

Accounts Receivable Transfer Programs. Columbia of Ohio, NIPSCO, and Columbia of Pennsylvania each maintain a receivables agreement whereby they transfer their customer accounts receivables to third-party financial institutions through consolidated special purpose entities. Thethree agreements expire between August 2026 and April 2027 and may be further extended if mutually agreed to by the parties thereto.

All receivables transferred to third parties are valued at face value, which approximates fair value due to their short-term nature. The amount of the undivided percentage ownership interest in the accounts receivables transferred is determined in part by required loss reserves under the agreements.

Transfers of accounts receivable are accounted for as secured borrowings resulting in the recognition of short-term borrowings on the Condensed Consolidated Balance Sheets (unaudited). As of March 31, 2026, the maximum amount of debt that could be borrowed related to our accounts receivable programs was $375.0 million.

We hadno short-term borrowings related to the securitization transactions as of March 31, 2026 and December 31, 2025, respectively.

For the three months ended March 31, 2026 and 2025, zero and $250.0 million, respectively, were recorded as cash flows from financing activities related to the change in short-term borrowings due to securitization transactions. Columbia of Ohio, NIPSCO and Columbia of Pennsylvania remain responsible for collecting on the receivables securitized, and the receivables cannot be transferred to another party.

Items listed above are presented net in the Condensed Statements of Consolidated Cash Flows (unaudited) as turnover is quick, the amounts are large, and their maturities are less than 90 days.