NorthWestern Corporation Announces Commencement of Public Offering of Common Stock

NorthWestern Corporation d/b/a NorthWestern Energy (Nasdaq: NWE) announced today that it plans to conduct a registered public offering, subject to market conditions and other factors, of up to $325,000,000 of shares of its common stock (the “Common Stock”). Of the $325,000,000 of shares of Common Stock being offered, NorthWestern expects to issue and sell directly approximately $75,000,000 of shares to the underwriters in the offering, and the Forward Seller (as defined below) expects to borrow and sell to such underwriters approximately $250,000,000 of shares in connection with the forward sale agreement described below. In conjunction with the offering, NorthWestern intends to grant to the underwriters an option to purchase up to $48,750,000 million of additional shares of Common Stock either directly from NorthWestern or from the Forward Seller described below, at NorthWestern’s election.