Avista Corporation · NYSE:AVA
Avista — Investor Presentation (May 2017)
21 slides from Avista's investor presentation, May 19, 2017
Slide 1: Avista Corporation
Exhibit 99.1 Ale AIVISTA NYSE: AVA www.avistacorp.com
Slide 2: Disclaimer
Disclaimer All forward-looking statements are Avista management's present expectations of future events and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. For more information on such f
Slide 3: Strong and stable utility core
Strong and stable utility core Avista Utilities " Regulated electric and natural gas operations " Serves customers in Washington, Idaho and Oregon " Contributes about 95% of earnings Alaska Electric Light & Power Company (AEL&P) « Regulated electric operations Long history of service, trust, " Serve
Slide 4: Steadily building long-term value
Steadily building long-term value Projecting long-term earnings and dividend growth of 4% to 5% = 5% to 6% rate base growth through utility capital investments a Upgrading infrastructure; grid modernization = Customer growth ~1% = Near-term earnings are challenged due to 2016 Washington rate order a
Slide 5: Avista Utilities
Avista Utilities Investments in utility infrastructure
Slide 6: Solid foundation and continued commitment to innovation
Solid foundation and continued commitment to innovation Providing safe and reliable service for 128 years = Diverse customer base a 30,000 square mile service territory Kemme Falls, Bapdroint + + ane seats ‘a MP Stioxon ih a Service area population 1.6 million Spokigr yAlene - 377,000 electric custo
Slide 7: A responsible mix of generation
A responsible mix of generation Founded on clean, renewable hydropower = Strategy is to control a portfolio of resources that responsibly meet our long-term energy needs = Long resources through 2021; evaluating preferred resource strategy and will file an electric Integrated Resource Plan in August
Slide 8: Investments to upgrade our systems
Investments to upgrade our systems 5% to 6% rate base growth Avista Utilities Capital Expenditures** ($ millions) $403 $405 $405 $405 mw Environmental $17 : $36 = Other* $46 =aGas $50 =Customer Growth = Enterprise Technology m= Generation eT&D 2016 2017 2018 2019 Projected ee * Other includes Facili
Slide 9: Investing in our utility
Investing in our utility Preserving and enhancing service reliability Advanced Metering Infrastructure (AMI) Electric Vehicle Pilot Program Aldyl A Natural Gas Pipe Replacement
Slide 10: Driving Effective Regulatory Outcomes
Driving Effective Regulatory Outcomes Recovery of costs and capital investments Washington Idaho Alaska = Dec. 28, 2016, received approval of all- party settlement agreement designed to increase annual electric base revenues by 2.6% or $6.3 million, plus continued recovery of $4.1 million of costs r
Slide 11: Alaska Electric Light & Power Company
11 Alaska Electric Light & Power Company (AEL&P) Growing the utility core
Slide 12: Diversifying our utility footprint
Diversifying our utility footprint Oldest regulated electric utility in Alaska, founded in 1893 " Serves 17,000 electric customers in the City and Borough of Juneau, meeting nearly all of its energy needs with hydropower = One of the lowest-cost electric utilities in the state " Approved capital str
Slide 13: Strategic Investments
Strategic Investments Developing platforms for future growth 13
Slide 14: Creating new growth platforms
Creating new growth platforms 14 = Expand natural gas services via LNG a Salix (subsidiary) — Generation — diesel substitution — Marine and rail fueling a Plum Energy — Small LNG project investments = Targeted investments a Energy Impact Partners — Private equity fund that invests in emerging techno
Slide 15: Financial Performance Metrics
Financial Performance Metrics 15
Slide 16: Prudent Balance Sheet and Liquidity
Prudent Balance Sheet and Liquidity $252.9 million of available liquidity at Avista Corp. as of March 31, 2017 = In second half of 2017, expect to issue up to $110.0 million of long-term debt and up to $70.0 million of common stock in order to fund planned capital expenditures and maintain an approp
Slide 17: Continued long-term earnings growth
Continued long-term earnings growth Total Earnings per Diluted Share Attributable to Avista Corporation Business Segments Q1 2017 } a12016 | Avista Utilities $0.90 $0.88 AEL&P $0.06 $0.05 Other © $(0.01) $215 $1.80-$2.00 $1.97 $1.85 i cc" 2013 2014 2015 2016 2017 Guidance * wContinuing Operations Ec
Slide 18: Confirming 2017 Earnings Guidance
18 Confirming 2017 Earnings Guidance 2017 Earnings Guidance Avista Utilities $1.71 - $1.85 AEL&P $0.10 - $0.14 Other $(0.01) — $0.01 Consolidated 0 — $2.00 Guidance Assumptions Our outlook for Avista Utilities assumes, among other variables, normal precipitation and temperatures and slightly higher
Slide 19: Attractive and growing dividend
Attractive and growing dividend Dividend growth expected to keep pace with long-term earnings growth $1.43* 2013 2014 2015 2016 2017* *Current quarterly dividend of $0.3575 annualized 19
Slide 20: An attractive investment
An attractive investment = Strong and responsible core utility 20 a Investing substantially to modernize infrastructure and upgrade systems a Steady returns and attractive dividend yield a One of the greenest utilities in the U.S.* a Committed to reducing current regulatory timing lag of 100-120 bps
Slide 21: Company Contact
Company Contact Jason Lang, Investor Relations Manager 509-495-2930 SO lal avistacorp.com www.avistacorp.com Photo: Huntington Park, Spokane, Wash. 21