Slide 1: 1st Quarter 2014
Froinys Conforarkesy Cz} I Ast Quarter 2014 May 1, 2014
Slide 2: Leadership Presenting Today
Leadership Presenting Today Darrel Anderson IDACORP President & Chief Executive Officer Steve Keen IDACORP Senior Vice President, Chief Financial Officer & Treasurer
Slide 3: Forward-Looking Statements
. GSSIDACORP. Forward-Looking Statements Inaddition to the historical information contained in this presentation, this presentation contains (and oral communications made by IDACORP, Inc. and Idaho Power Company may cantain} statements that relate to future events and expectations and, as such, cons
Slide 4: Earnings Performance
Earnings Performance Net Income and Earnings Per Share (thousands except for per share amounts) Three Months Ended March 31 2014 2013 Net Income S 27,404 S$ 35,194 Weighted average outstanding shares — diluted 50,175 50,064 Earnings per share § 0.55 S 0.70 (1) IDACORP’s 2013 results reflect the retr
Slide 5: Adoption of Accounting Standards Update 2014-01
Adoption of Accounting Standards Update 2014-01 For The Year 2013 Quarter Ended As As As Currently ally | Currently iginally | Currently | AsCurrently Reported red | Reported orted | Reported Reported Earnings Per Share of Commonstock 90:67 $0.70 $0.91 $093 $143 $1.46 $0.55 (Diluted) Increase in EPS
Slide 6: 1st Quarter 2013 to 1st Quarter 2014 Net Income
SIDACORP. 15 Quarter 2013 to 15t Quarter 2014 Shs, IDACORP, Inc. Net Income (millions) Net Income- March 31, 2013 #) | | gs as.2 | Change in Idaho Power net income: Decreased sales volumes and rates attributable to usage per customer, net of associated power supply costs and PCA mechanism impacts (1
Slide 7: Operating Cash Flows and Liquidity
Operating Cash Flows (millions) Three Months Ended March 31 IDACORP 2014 2013 $ 969 § 54.0 Net Cash Provided by Operating Activities Liquidity As of March 31, 2014 (millions) Idaho IDACORPH Power Revolving Credit Facility — Expires October 2018 $ 125.0 $ 300.0 Commercial Paper Outstanding (47.3) - I
Slide 8: ADITC Settlement 2012-2014
SIDACORP. ADITC Settlement 2012-2014 Sharing Percentage 100% 75% s0%-| Earnings Deadband 25% ——_ Return On Year-End Equity In Idaho Jurisdiction Ability to use additional ADITC’s of up to $45 million in 2014 —. AtMay 1, 2014, the company expects to use less than $5 million of additional ADITC’s in 2
Slide 9: Key Financial & Operating Metrics and 2014 Earnings Guidance
Key Financial & Operating Metrics and 2014 Earnings Guidance (millions except per share amounts) 2014 Estimates Current« Previous = Idaho Power Operations & Maintenance Expense No Change S$ 335-$ 345 Idaho Power Additional Amortization of ADITC No Change Less than $5 Idaho Power Capital Expenditures
Slide 10: Continued Economic Progress: Recognitions & Outlook
Continued Economic Progress Recognitions & Outlook March 17, 2014 Time named Boise April 8, 2014 Boise named “Best city to move to in 2014.” Simple Moving Labor 10 Regions on the rise. number 1 out of 9 cities for “Getting it right”. Boise MSA “Boise City remains among the nation’s best performers o
Slide 11: Continued Economic Progress: Customer Growth and Employment
ESIDACORP. Continued Economic Progress Idaho Power Customer Growth 12 Months Ended March 31 aL 7,276 5,854 4,087 2,651 2,467 2010 2011 2012 2013 2014 Idaho Power Service Area Employment 460,000 450,000 440,000 430,000 420,000 410,000 400,000 First Quarter Average 453,270 446,096 438,475, 427,298. 42
Slide 12: Summer Outlook
12 Summer Outlook June Through August 2014 Precipitation 33% to 40% Chance of Below Normal Precipitation I 40% to 50% Chance of Below Normal Precipitation BB 50% or Greater for Below Normal Precipitation (W) 33% to 40% Chance of Above Normal Precipitation 1D 40% Chance of Above Normal Precipitation
Slide 13: Questions?
Questions?
Slide 14: Contact Information
SIDACORP. Contact Information eee Investors & Analysts Media Lawrence F. Spencer Stephanie McCurdy Director of Investor Relations Corporate Communications (208) 388-2664 (208) 388-6973 LSpencer@idacorpinc.com SMcCurdy@idahopower.com Webcast and presentation on WWW.IDACORPINC.COM