Idacorp, Inc. · NYSE:IDA
Idacorp — Q3 2026 Earnings Presentation
17 slides from Idacorp's earnings presentation, Oct 29, 2026
Slide 1: Earnings Conference Call 3rd Quarter 2026
Earnings Conference Call 3rd Quarter 2026 October 29, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation (and oral statements relating to this presentation) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical facts, that express or involve discussi
Slide 3: Presenting Today
Presenting Today Lisa Grow Brian Buckham Amy Shaw John Wonderlich IDACORP President IDACORP Executive Vice President, IDACORP Vice President of IDACORP Investor & Chief Executive Officer Chief Financial Officer & Treasurer Finance, Compliance & Risk Relations Manager 3
Slide 4: IDACORP Earnings Performance
IDACORP Earnings Performance Three months Nine months ended September 30 ended September 30 2026 2025 2026 2025 Net income (thousands) $ 160,213 $ 124,437 $ 330,771 $ 279,865 Weighted average common shares outstanding – diluted 58,656 55,055 57,402 54,522 (thousands) Diluted earnings per share $ 2.7
Slide 5: Growing Load and Customer Growth
Growing Load and Customer Growth 2.2% Idaho Power Customer Growth (Year-over- year) 680,000 670,000 660,000 650,000 640,000 630,000 620,000 610,000 600,000 2022 2023 2024 2025 2026 Twelve Months Ended September 30, 2026 5
Slide 6: Large Customer Construction Sites
Large Customer Construction Sites 6
Slide 7: Preliminary IRP Forecast
Preliminary IRP Forecast 5-Year Forecasted Annual Growth Rate(1) 20-Year Forecasted Annual Growth Rate(1) Retail Sales Annual Peak Retail Sales Annual Peak (Billed MWh) (Peak Demand MW) (Billed MWh) (Peak Demand MW) Preliminary 2027 IRP 8.9% 5.4% 2.6% 2.0% (1) The Preliminary Load Growth rate is sub
Slide 8: Focused on Affordability
Focused on Affordability Average Rates (cents / kilowatt-hour) $0.19 Residential $0.17 $0.15 $0.13 $0.11 $0.09 2021 2022 2023 2024 2025 (1) Idaho Power National Average $0.16 Total Retail $0.14 $0.12 $0.10 $0.08 $0.06 2021 2022 2023 2024 2025 (1) Idaho Power National Average (1) Edison Electric Inst
Slide 9: Large Customer Contract Considerations
Large Customer Contract Considerations(1) Take-or-Pay & Termination & Credit & Security Demand Commitments Exit Protections $ $ • Take-or-pay obligations tied to • Credit requirements scaled to • Explicit termination payment demand-related costs project size and risk provisions • Contract Demand & M
Slide 10: Boardman-to-Hemingway
Boardman-to-Hemingway • Broke ground in June 2025 • ~1,200 of 1,300 structure pads completed • ~780 of 1,300 structures completed • ~100 miles of conductor installed • Project expected to be in-service in late 2027 10
Slide 11: Owned Generation and Storage Project Updates
Owned Generation and Storage Project Updates(1) 2026 2028 2029 2030 BESS Bennett Peregrine South Hills Projects Expansion 430 MW 222 MW 250 MW 167 MW DRAFT RENDERING DRAFT RENDERING DRAFT RENDERING (1)The 250 MW BESS projects were placed in-service in June 2026. In March 2026, Idaho Power received a
Slide 12: 2032 RFP Final Short List
2032 RFP Final Short List(1) Evaluation Year Nameplate and Technology Structure 2031 430 MW gas Self-Build 2031 149 MW solar PPA 2031 200 MW solar PPA 2031 250 MW Solar + 250 MW BESS PPA/BSA 2031 100 MW Market Purchase Market Purchase 2031 80 MW Market Purchase Market Purchase 2031 150 MW BESS BSA 2
Slide 13: Comparing Q3 2025 to Q3 2026
Comparing Q3 2025 to Q3 2026 IDACORP, Inc. Net Income (in millions and before tax unless otherwise noted) Net Income – For the Quarter Ended September 30, 2025 $ 124.4 Increase (decrease) in Idaho Power net income: Retail revenues per megawatt-hour, excluding large contract customers, net of power c
Slide 14: Liquidity and Equity Financing
Liquidity and Equity Financing Liquidity As of October 23, 2026 (millions) IDACORP(1) Idaho Power Net balance available(2) $ 100 $ 400 Net Proceeds IDACORP Equity Financing Remaining as of Available as of Settled To-Date (millions) October 23, 2026 October 23, 2026 ATM Offering Program – 2024 Series
Slide 15: Financing Plan Forecast
Financing Plan Forecast (1) (2) 2026 – 2030 $9,000 $8,000 $2,900 $(200) $7,000 $6,000 $5,000 $750 $ Millions $4,050 $1,300 $4,000 $3,000 $(1,200) $2,000 $1,000 $- $(7,350) Net Cash Dividends FSAs(3) To be Issued To be Issued To be Capital from Repaid(4) Expenditures(5) ------------------------------
Slide 16: 2026 Earnings Per Share Guidance and Estimated Key Operating and Financial Metrics
2026 Earnings Per Share Guidance and Estimated Key Operating and Financial Metrics Current(1) Prior(2) IDACORP Earnings Guidance (per diluted share) $ 6.40 – $ 6.50 $ 6.30 – $ 6.45 Idaho Power additional ADITC amortization (millions) Less than $ 10 Less than $ 15 Idaho Power O&M Expense (millions) $
Slide 17: Contact Information
Contact Information Investors & Analysts Media John R. Wonderlich Jordan Rodriguez Investor Relations Manager Corporate Communications (208) 388-5413 (208) 388-2460 JWonderlich@idahopower.com JRodriguez@idahopower.com