Alliant Energy (LNT) Investor presentation summary

Business overview and growth strategy

• Over 95% of earnings are from regulated operations, serving 1 million electric and 430,000 gas customers with a $14.2B rate base in 2024.

• Among the largest regulated wind and solar owner-operators, with 44% of 2024 energy from renewables and 32% of rate base from owned renewables.

• Ten-year compound annual growth rate of 6% in earnings, targeting 5–7% long-term growth.

• Constructive regulatory environments and strong customer base in resilient industries support growth.

• Over 3 GW of renewable resources and robust economic development programs drive expansion.

Investment plans and capital allocation

• Four-year capital expenditure plan of $11.5B (2025–2028) supports an 11% investment CAGR, with projected rate base rising to $22.9B by 2028.

• Major investments in renewables, energy storage (~800 MW by 2027), and new wind (~1,200 MW, with 750 MW by 2028).

• Tax credit transferability preserved for $1.5B in credits through 2028, with all projects starting construction within two years of proposed legislation.

• Balanced funding approach: 35% cash from operations, 40% new debt, 13% tax credit monetization, and 12% equity.

• Debt financing plans include $725M at parent, $400M at IPL, and $300M at WPL, with upcoming maturities and new issuances planned.

Load growth and customer opportunities

• Projected >30% increase in demand by 2030, with 2.1 GW peak demand contracted and 9–10% electric sales CAGR in plan (2025–2030).

• Individual contract rates and risk-sharing mechanisms for large customers, especially data centers, ensure benefits for all customers.

• Economic development initiatives and flexible resource planning support scalable growth.