Slide 1: Earnings Conference Call
Earnings Conference Call 4 t h Q u a r t e r & F u l l - Ye a r 2 0 2 0 February 18, 2021
Slide 2: Forward-Looking Statements
Forward-Looking Statements In addition to the historical information contained in this presentation, this presentation contains (and oral communications made by IDACORP, Inc. and Idaho Power Company may contain) statements, including, without limitation, earnings guidance and estimated key operating
Slide 3: Leadership Presenting Today
Leadership Presenting Today Lisa Grow Steve Keen IDACORP President IDACORP Senior Vice President & Chief Executive Officer & Chief Financial Officer 3
Slide 4: Earnings Performance
Earnings Performance IDACORP, Inc. Net Income and Earnings Per Diluted Share (Thousands Except for Per Share Amounts) Three Months Year Ended December 31, 2020 Ended December 31, 2020 2020 2019 2020 2019 Net Income $ 37,507 $ 47,136 $ 237,417 $ 232,854 Average shares outstanding – diluted (000’s) 50
Slide 5: OSHA Recordable Rates
FOCUS • ASSESS • CHOOSE • SPEAK UP OSHA Recordable Rates 5 4.5 4 3.5 3 2.5 2 1.5 1 0.5 0 2000 2015 2016 2017 2018 2019 2020 National Average* EEI (1k-<2k Employees)* Idaho Power *2020 data not yet available as of the date of this presentation. 5
Slide 6: Highest Scores on Record
Idaho Power Received its Highest Scores on Record in Third Party Electric Residential and Business Customer Satisfaction Studies in 2020 Click here to see the press release for the residential customer satisfaction study 6 Click here to see the press release for the business customer satisfaction st
Slide 7: 13th Straight Year of Growth in EPS
13th Straight Year of Growth in EPS(1) $4.69 $4.61 $4.60 $4.49 7.4% CAGR $4.21 $4.20 since 2007 $3.85 $3.87 $3.94 $3.80 $3.64 $3.43 $3.46 $3.40 $3.00 $3.00 $2.68 $2.60 $2.17 $2.20 $1.86 $1.80 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 (1)Earnings per diluted share. 2008-20
Slide 8: Increasing Customer Growth Rate
Increasing Customer Growth Rate 590,000 Idaho Power Customer Growth 2.7% 580,000 570,000 2.1% Idaho 560,000 population growth over 2019* 550,000 Top State in Rate of Growth in U.S.* 540,000 • 4 Years in a Row • No.1 since 2015 530,000 • No. 3 since 2010 2016 2017 2018 2019 2020 Top 5 States in Perce
Slide 9: Continued Economic Growth
Continued Economic Growth Moody’s GDP Growth Projections Idaho Power’s Service Area: 2021: 6.1% 2022: 6.8% 9
Slide 10: IDACORP Strategy
IDACORP Strategy We love where we live and what we do. Every day, we rely on these core values to guide our success: Safety First Integrity Always Respect for All 10
Slide 11: 100% Clean Energy by 2045
100% Clean Energy by 2045 Hells Canyon, Idaho and Oregon Border Reliable Affordable Clean • Boardman coal-fired plant ceased operations in October 2020 • Idaho Power to end its participation in the North Valmy coal-fired plant no later than 2025 • 2019 amended IRP suggests IPC could exit the Jim Bri
Slide 12: Winter Weather Outlook
Winter Weather Outlook March Through May 2021 12 Source: NOAA, National Oceanic Atmospheric Administration, U.S. Dept. of Commerce, January 21, 2021
Slide 13: IDACORP, Inc. Net Income (millions)
2019 to 2020 IDACORP, Inc. Net Income (millions) Net Income – For the Year Ended December 31, 2019 $ 232.9 Increase (decrease) in Idaho Power net income: Customer growth, net of associated power supply costs and power cost adjustment mechanisms $ 14.0 Usage per retail customer, net of associated pow
Slide 14: Operating Cash Flows
Operating Cash Flows (millions) Year Ended December 31 IDACORP 2020 2019 Net Cash Provided by Operating Activities $ 388.1 $ 366.6 Liquidity As of December 31, 2020 (millions) IDACORP(1) Idaho Power Revolving Credit Facility – Expires December 2024 $ 100.0 $ 300.0 Commercial Paper Outstanding – – Id
Slide 15: 2021 Earnings Per Share Guidance & Estimated Key Financial & Operating Metrics
2021 Earnings Per Share Guidance & Estimated Key Financial & Operating Metrics (Millions Except for Per Share Amounts) 2021 Estimates(1) 2020 Actual IDACORP Earnings Per Diluted Share Guidance $ 4.60 – $ 4.80 $ 4.69 Idaho Power Additional Amortization of Accumulated None None Deferred Investment Tax
Slide 16: Capital Expenditures Forecast
Capital Expenditures Forecast(1) 2021 – 2025 ($ Millions) $500 $450 $400 $350 $300 $250 $200 $150 $100 $50 $0 2021 2022 2023 2024 2025 Distribution ($100-$120M) Hydro ($65-$110M) Transmission ($50-$75M) General Plant ($60-$95M) Thermal ($15-$40M) High Voltage Transmission ($5-$95) 16 (1) As of Febru
Slide 17: Contact Information
Contact Information Investors & Analysts Media Justin S. Forsberg Jordan Rodriguez Director of Investor Relations & Treasury Corporate Communications (208) 388-2728 (208) 388-2460 JForsberg@idacorpinc.com JRodriguez@idahopower.com Webcast and presentation on WWW.IDACORPINC.COM