Alliant Energy (LNT) Investor presentation summary

Strategic growth and investment outlook

• Projected 12% CAGR in investment from 2025-2029, with $13.4B in capital expenditures planned for 2026-2029, supporting a 60% increase in projected demand by 2031 driven by data center and commercial load growth.

• Flexible resource planning and secured generation assets, including 3.4 GW of contracted demand and safe-harbored tax credits for renewables and storage, enable rapid response to customer needs.

• Rate base expected to grow from $15.3B in 2025 to $26.2B in 2029, with renewable generation and energy storage representing nearly twice the rate base of fossil generation.

• Individual customer rate constructs and regulatory frameworks ensure new large energy users, such as data centers, pay for grid investments, protecting existing customers from subsidization.

• Additional investment opportunities include transmission upgrades, gas laterals, and further economic development projects, with regulatory filings and approvals in progress.

Financial performance and guidance

• Ongoing EPS guidance for 2026 is $3.36–$3.46 per share, with a long-term EPS growth target of 5–7%+ and a 7%+ target for 2027–2029.

• Dividend payout ratio maintained at 60–70% of ongoing earnings, with a 2026 dividend target of $2.14 per share.

• Funding for capital investments balanced between cash from operations (34%), new debt (35%), equity (18%), and tax credit monetization (13%).

• Anticipated $300M in tax credits generated and transferred in 2026, with forecasted tax credits through 2029 supporting earnings and investment.

• Strong balance sheet and investment-grade credit ratings support ongoing and future capital needs.

Customer and community impact

• Retail electric rates remain below national averages, with stable Iowa base rates through 2029 and regulatory settlements in Wisconsin ensuring predictable returns.

• Data center growth structured to benefit communities through job creation, tax base expansion, and no cost impact to existing customers.

• Investments in reliability, resiliency, and technology enhance customer experience and support electrification and distributed generation.

• Community giving, volunteerism, and partnerships with educational institutions reinforce social responsibility.