Slide 1: Q3 2024 Earnings
Q3 2024 Earnings November 6, 2024
Slide 2: Call Participants
Call Participants Dennis Vermillion Heather Rosentrater Kevin Christie Ryan Krasselt Chief Executive President and Chief Senior VP, Chief Financial VP, Controller, and Officer Operating Officer Officer, Treasurer, and Principal Accounting Regulatory Affairs Officer 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, w
Slide 4: Continued Improvement in Utility
Continued Improvement in Utility Earnings per Diluted Share by Q3 2024 Q3 2023 YTD 2024 YTD 2023 Business Segment Avista Utilities $0.25 $0.18 $1.42 $1.10 AEL&P $0.00 $0.00 $0.06 $0.07 Other $(0.02) $0.01 $(0.04) $(0.03) Consolidated $0.23 $0.19 $1.44 $1.14 • Quarterly results demonstrate continued
Slide 5: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Operating Resource Utility Margin Income Utility Margin Revenues Costs (Pre-Tax) Taxes (a) (Net of Tax) For the three months ended Sept. 30, 2024: Electric $ 316,692 $ 107,411 $ 209,281 $ 43,949 $ 165,332 Natural Gas 73,522 39,726 33,796 7,097 26,699 Less: Intraco
Slide 6: Consolidated Earnings Bridge
Consolidated Earnings Bridge * Including intracompany. The chart above includes electric and gas utility margin, which are considered non-GAAP financial measures. Refer to page 5 for a reconciliation of these non- GAAP measures. 6
Slide 7: Driving Effective Regulatory Outcomes
Driving Effective Regulatory Outcomes ▪ General rate cases (multiyear rate plans) for electric and gas filed January 2024 for new rates to be effective December 2024. Washington ▪ Proposed electric revenue increase of $42.9M (7.3%) in year 1, and $44.9M (10.9%) in year 2. ▪ Proposed base gas revenue
Slide 8: Investing in the Utility of the Future
Investing in the Utility of the Future Other Wildfire Resiliency 6% $600 Enterprise $575 Technology 14% Transmission $525 Natural and Substation Rebuilds Gas Distribution 48% 15% Generation 18% Hydro Plant Modernization 2025 2026 2027 Avista Utilities Expected Top 3 Capital Programs Allocation of Av
Slide 9: Prudent Balance Sheet and Liquidity
Prudent Balance Sheet and Liquidity Consolidated capital structure Liquidity Common stock issued and expected September 30, 2024 September 30, 2024 ($ in millions) ($ in millions) $70 Issued through 9/30/2024 $36 Equity Debt Available liquidity 45.2% 54.8% $255 Letters of credit Upcoming debt maturi
Slide 10: Earnings Guidance
Earnings Guidance Guidance Assumptions Original 2024 Revised 2024 ▪ Our guidance does not include the effect of unusual or non-recurring items until the effects are probable. Various factors could cause actual results to differ materially from our expectations, including our earnings Avista Utilitie
Slide 11: Questions
Questions 11
Slide 12: Contact Information
Contact Information Analysts and Investors Stacey Wenz Investor Relations Manager (509) 495-2046 stacey.wenz@avistacorp.com Media Lena Funston External Communications Manager (509) 495-8090 lena.funston@avistacorp.com Webcast replay Archived on investor.avistacorp.com 12
Slide 13: Appendix
Appendix 13
Slide 14: 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 15: Risks, Uncertainties and Other Factors That Could Affect Future Results
Risks, Uncertainties and Other Factors That Could Affect Future Results Technology Risk changes in technologies, possibly making some of the current technology we utilize obsolete or introducing new cyber security risks and other new risks inherent in the use, by either us or our counterparties, of