Alliant Energy (LNT) Investor presentation summary

Company overview and strategic positioning

• Serves 1 million electric and 430,000 gas customers with a $14.2B rate base and over 3,000 employees.

• Over 95% of earnings come from regulated operations, with a strong focus on renewables and reliability.

• Top 5 regulated wind and solar owner-operator, with 44% of 2024 energy from renewables.

• Ten-year EPS CAGR of 6%, targeting 5–7% long-term earnings growth.

• Constructive regulatory environments in Iowa and Wisconsin support growth and customer affordability.

Growth drivers and investment opportunities

• Data center expansion, especially with QTS and Google, drives significant load growth and new investment.

• Projected electric sales growth CAGR of 9–10% from 2025–2030, with demand expected to rise over 30% by 2030.

• Four-year capital plan of $11.5B (2025–2028) supports an 11% investment CAGR, focusing on renewables, storage, and grid upgrades.

• Flexible resource planning enables adaptation to evolving policies and customer needs.

• Ownership in American Transmission Company provides additional regulated returns and future investment opportunities.

Financial performance and funding

• Ongoing EPS and dividends have grown at a 6% CAGR over the past decade, maintaining a 60–70% payout ratio.

• 2025 EPS guidance midpoint is $3.20, with a dividend target of $2.03, reflecting 6% growth over 2024.

• Funding for $11.5B capex (2025–2028) sourced from operations (35%), new debt (40%), tax credit monetization (13%), and equity (12%).

• Maintains investment-grade credit ratings and targets 40–45% parent equity structure.

• Debt financing plans include new issuances and refinancing to support growth and maturities.