Idacorp (IDA) investor relations material

Company overview and business model

• Idaho-incorporated holding structure; Idaho Power conducts nearly all operations through electric generation, transmission, distribution, sales and purchases, under Idaho, Oregon and FERC regulation.

• Other subsidiaries include IDACORP Financial Services, which invests in affordable housing and real estate tax credits, and Ida-West Energy, which operates small hydropower projects.

Use of proceeds and capital allocation

• Proceeds arise only when shares are purchased directly from the issuer; proceeds from original-issue shares are for general corporate purposes, including subsidiary investment or loans, debt repayment and acquisitions.

• Any proceeds not used immediately may be temporarily invested in short-term instruments; proceeds from open-market purchases go to selling shareholders, not the issuer.

Risk factors and disclosures

• Future share issuances or sales could pressure the market price; stock volatility may prevent sales at or above purchase cost, and participants bear price risk while sale requests are processed.

• Utility risks include regulatory cost recovery, infrastructure permitting and execution, supply-chain constraints, volatile industrial load, inflation and interest rates, severe weather, wildfire, drought and hydrology.

• Idaho and Oregon laws, charter provisions and regulatory approvals may delay or prevent a favored change in control; Oregon’s 5% ownership approval rule is expected to apply until a specified asset sale is completed.

• Reinvested dividends may remain taxable despite no cash receipt; participants do not earn interest on pending funds, bear market risk, and plan shares are not SIPC- or FDIC-insured.