Slide 1: Q1 2026 Earnings
A\e_ AIVISTA Q1 2026 Earnings May 5, 2026
Slide 2: Call Participants
Call Participants Heather Rosentrater Kevin Christie President and Chief Executive Officer Senior VP, Chief Financial Officer, Treasurer, and Regulatory Affairs Officer 2
Slide 3: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements, including statements regarding our current expectations for future financial performance and cash flows, capital expenditures, financing plans, our current plans or objectives for future operations and other factors th
Slide 4: Strong Q1 to Start 2026
Strong Q1 to Start 2026 Q1 2026 Q1 2025 GAAP net income (in millions) $92 $79 GAAP consolidated diluted earnings per share $1.11 $0.98 Non-GAAP utility earnings per share $1.10 $1.01 2026 2025 $1.11 $1.01 $0.88 $1.10 $0.98 $0.29 $0.37 $0.87 $0.17 $0.36 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Non-GAAP utility EPS GA
Slide 5: YTD 2026 Earnings Bridge
YTD 2026 Earnings Bridge $0.02 $0.01 $1.11 $0.04 $0.01 $1.10 $0.04 $(0.03) $0.04 $- $(0.01) $1.01 $0.98 $(0.02) $(0.03) 1Q25 1Q25 1Q25 non- Electric Natural gas Other Depreciation Interest Other Income tax Dilution AEL&P 1Q26 non- 1Q26 1Q26 GAAP other GAAP utility margin utility margin operating and
Slide 6: Investing in the Utility of the Future
Investing in the Utility of the Future $200 Other $150 8% $800 Enterprise $710 Technology $680 12% $635 Transmission $615 and Natural Distribution Gas 47% 13% Generation 20% 2026 2027 2028 2029 2030 Base Capital Potential Additional Spend Avista Utilities Expected Capital Spend 2025-2030 Allocation
Slide 7: Prudent Balance Sheet and Liquidity
Prudent Balance Sheet and Liquidity Consolidated capital structure Liquidity Common stock issued and expected March 31, 2026 March 31, 2026 ($ in millions) ($ in millions) Issued through 3/31/2026 $14 Available liquidity $156 Equity Debt $90M 45.7% 54.3% Letters of credit outstanding $9 Upcoming deb
Slide 8: Affirming 2026 Non-GAAP Utility Earnings Guidance
Affirming 2026 Non-GAAP Utility Earnings Guidance We are affirming our non-GAAP utility earnings guidance for 2026 of $2.52 to $2.72 per diluted share. Guidance Assumptions ▪ Normal weather ▪ A negative impact from the ERM of $(0.10) per diluted share, within the 90% customer / 10% company sharing b
Slide 9: Q&A
Q&A 9
Slide 10: Contact Information
Contact Information Analysts and Investors Stacey Walters Investor Relations Manager (509) 495-2046 stacey.walters@avistacorp.com Media Lena Funston External Communications Manager (509) 495-8090 lena.funston@avistacorp.com Webcast replay Archived on investor.avistacorp.com 10
Slide 11: Appendix
Appendix 11
Slide 12: Reconciliations of Non-GAAP Measures
Reconciliations of Non-GAAP Measures First Quarter Non-GAAP utility earnings and 2026 2025 utility earnings per diluted share exclude non-regulated GAAP net income as reported $ 92 $ 79 other business activity, Non-GAAP adjustments: primarily consisting of realized Non-regulated other business (inco
Slide 13: Risks, Uncertainties and Other Factors That Could Affect Future Results
Risks, Uncertainties and Other Factors That Could Affect Future Results Forward-looking statements are subject to a variety of risks, uncertainties and other factors, most of which are beyond our control and many of which could have significant impact on our operations, results of operations, financ
Slide 14: Risks, Uncertainties and Other Factors That Could Affect Future Results
Risks, Uncertainties and Other Factors That Could Affect Future Results Climate Change Risk increasing frequency and intensity of severe weather or natural disasters resulting from climate change that could disrupt energy generation, transmission and distribution, as well as the availability and cos
Slide 15: Risks, Uncertainties and Other Factors That Could Affect Future Results
Risks, Uncertainties and Other Factors That Could Affect Future Results Financial Risk our ability to obtain financing through the issuance of debt and/or equity securities and access to our funds held with financial institutions, which could be affected by various factors including our credit ratin