NorthWestern Corporation
d/b/a NorthWestern Energy
3010 W. 69th Street
Sioux Falls, SD 57108


Company reports GAAP diluted earnings per share of $2.99 for 2014;
$2.68 Non-GAAP Adjusted earnings per share at midpoint of $2.60-2.75 guidance range;
Narrows full year 2015 guidance to $3.10 - $3.30 per diluted share; and
Announces a 20% increase to the quarterly dividend, $0.48 per share payable March 31, 2015.

SIOUX FALLS, S.D. - February 12, 2015 - NorthWestern Corporation d/b/a NorthWestern Energy (NYSE: NWE) reported financial results for the year ended December 31, 2014. Net income for the period was $120.7 million, or $2.99 per diluted share, as compared with net income of $94.0 million, or $2.46 per diluted share, for the same period in 2013. This 22% increase in diluted earnings per share is primarily the result of gross margin improvements from energy supply acquisitions and income tax benefits realized during the year partially offset by increased operating costs and expense related to the hydro transaction.

"We are pleased to deliver strong earnings to our shareholders in a year that also saw a significant amount of hydro related transaction expense.  Since the start of the hydro transaction process in 2013, shareholders have funded nearly $50 million(1) of transaction related costs with the hope of seeing a successful transition of the hydro assets from PPL Montana to NorthWestern.  We are excited to report that 81 former PPL Montana employees are now integrated into the NorthWestern family and the electricity from these hydro facilities is flowing to power the homes, businesses and economy of our Montana customers,” said Bob Rowe, President and Chief Executive officer.  “While the Montana hydro transaction demanded a tremendous amount of effort and was certainly our headline story of 2014, NorthWestern employees also achieved our best-ever safety results and worked tirelessly to ensure we were providing safe, reliable and affordable energy solutions to all of our valued customers across our entire service territory.”

(1) See section "Hydro Transaction Shareholder Incurred Costs" for additional explanation.

The following information was filed by Northwestern Corp (NWE) on Thursday, February 12, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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