Financial Data and Key Metrics Changes - IDACORP's Q2 2023 earnings per diluted share were $1.35, up from $1.27 in Q2 2022, with year-to-date earnings at $2.46 compared to $2.18 in the first half of 2022 [7] - The company reaffirmed its full-year 2023 earnings guidance in the range of $4.95 to $5.15 per diluted share, assuming normal weather conditions [11][66] - Cash flows from operations returned to positive territory after regulatory lag effects from high power and fuel costs [65] Business Line Data and Key Metrics Changes - Customer growth was 2.1% year-over-year, contributing $4.1 million to operating income, with residential customer growth at 2.3% [33] - Industrial sales volumes and revenues increased, but industrial per customer usage declined by 5% due to lower economic activity in some sectors and maintenance at a large customer's facility [34] - Transmission wheeling-related revenues increased operating income by $1.7 million due to elevated energy prices [35] Market Data and Key Metrics Changes - Moody's GDP forecast for the service area predicts strong growth of 5.5% in 2023 and 3.9% in 2024, with employment increasing by 1.6% since Q2 2022 [17] - The company expects hydropower generation to be between 6 million to 7.5 million megawatt hours for the year, compared to 5.3 million last year [59] Company Strategy and Development Direction - The company is focused on growth, rate cases, and infrastructure, with a general rate case filed in Idaho requesting an 8.61% rate increase [18] - A five-year forecasted annual growth rate of 5.5% on retail sales and 3.7% on annual peak is anticipated, driven by large load customers [21] - Major infrastructure projects like the Boardman-to-Hemingway project are underway, with construction expected to begin soon [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued customer growth and a stable economic environment, despite some cyclical trends in certain industries [50] - The company is focused on converting coal to gas in its plants as part of its clean energy goals, with ongoing evaluations in the Integrated Resource Plan [53][54] - Management acknowledged inflationary pressures but noted lower O&M expenses due to efficient operations [41] Other Important Information - The company plans to file a general rate case in Oregon late this year or early next year [20] - The capital expenditure for 2023 is expected to be in the range of $650 million to $700 million, with potential increases for 2024 [112] Q&A Session Summary Question: Overview of customer growth and economic activity - Management noted steady growth across sectors, with residential permits starting to recover and no alarming trends observed [49] Question: Impact of proposed new GHG rules on plants - Management confirmed ongoing focus on converting coal plants to gas, with current developments not impacting this year's usage [53] Question: Drivers of increased CapEx for 2024 - Management indicated inflationary costs and an increase in the number of projects as key drivers for higher CapEx [56] Question: Status of the Boardman-to-Hemingway project - Management confirmed that negotiations for land rights are ongoing and construction is expected to begin in the fall [90] Question: Relationship with regulators regarding the rate case - Management expressed confidence in their relationship with regulators, emphasizing open communication and a strong case for the rate increase [104]

f Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION IDACORP, Inc.: Yes ☒ No ☐ Idaho Power Company: Yes ☒ No ☐ Indicate by check mark whether the registrants are large accelerated filers, accelerated filers, non-accelerated filers, smaller reporting companies, or emerging growth companies. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act: Washington, D.C. 20549 FORM 10-Q | ☒ | QUARTERLY ...

Financial Data and Key Metrics Changes - IDACORP's first quarter 2023 earnings per diluted share were $1.11, an increase from $0.91 in the same quarter last year [3] - The company affirms its full-year 2023 earnings guidance in the range of $4.95 to $5.15 per diluted share, assuming normal weather conditions and a return to more normal power supply expenses [3][21] - Customer growth of 2.2% added $2.7 million to operating income, with residential customer growth at 2.4% [12][33] Business Line Data and Key Metrics Changes - The increase in operating income was driven by a $5.1 million rise in transmission wheeling-related revenues due to energy price volatility [42] - A notable increase of $8.5 million in operating income was attributed to changes in net-per-megawatt-hour revenue, influenced by the Idaho order for the Jim Bridger plant [41] - O&M expenses remained flat quarter-over-quarter despite inflation-related pressures, aided by cost management efforts [15] Market Data and Key Metrics Changes - The economy within Idaho Power's service area is projected to grow at 4.7% in 2023 and 4.4% in 2024, outperforming national trends [6] - Employment in the service area has increased by 2% since the first quarter of 2022, indicating a robust local economy [6] Company Strategy and Development Direction - IDACORP plans to file a general rate case with the Idaho Commission on June 1, requesting rate changes effective January 1, 2024, while aiming to keep the request below 10% [35] - The company is focusing on significant infrastructure investments to support a growing customer base, with a forecasted annual growth rate of 5.5% on retail sales over the next five years [38][39] - The Boardman-to-Hemingway transmission line project is expected to break ground this year, which will be crucial for meeting increasing demand [36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the economic outlook for the service area, citing strong customer growth and ongoing inquiries from commercial entities [40][54] - The company anticipates continued inflationary pressures but remains focused on managing costs effectively [15][49] - Management highlighted the importance of upcoming rate cases to support future growth and infrastructure investments [91] Other Important Information - The company expects capital expenditures for 2023 to be in the range of $650 million to $700 million [22] - IDACORP has lifted its hydropower generation forecast for the year to between 6 million and 7.5 million megawatt-hours [22] Q&A Session Summary Question: What is the outlook for customer growth given recent economic factors? - Management indicated that the recent slowdown in customer growth appears to be more related to rising interest rates rather than a significant economic downturn [53] Question: Can you provide details on the BPA interest acquisition on B2H? - The total cost for the acquisition from BPA is around $41 million, with payments structured over time [55] Question: What is the expected timeline for the Boardman-to-Hemingway project? - The project is targeted for commercial operation in summer 2026, with a capital expenditure range of $1.1 billion to $1.3 billion [67] Question: How does the company plan to manage regulatory lag? - Management noted that while there is no specific regulatory lag number, they aim to execute well in the regulatory arena to recover costs timely [119]

f Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q | ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES | | | --- | --- | --- | | | EXCHANGE ACT OF 1934 | | | | For the quarterly period ended March 31, 2023 | | | | OR | | | ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES | | | | EXCHANGE ACT OF 1934 | | | | For the transition period from __________ to __________ | | | | Exact name of registrants as specified | I.R.S. Emplo ...

Investor Information Spring 2023 Investor Outreach New factors emerge from time to time, and it is not possible for the company to predict all such factors, nor can it assess the impact of any such factor on the business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. IDACORP and Idaho Power disclaim any obligation to update publicly any forward-looking information, whether in response to new informat ...

IDACORP, Inc. (NYSE:IDA) Q4 2022 Results Conference Call February 16, 2023 4:30 PM ET Company Participants Justin Forsberg - Director of Investor Relations and Treasury Lisa Grow - President and Chief Executive Officer Brian Buckham - Senior Vice President and Chief Financial Officer Adam Richins - Senior VP & COO Conference Call Participants Brian Russo - Sidoti Anthony Crowdell - Mizuho Chris Ellinghaus - Siebert Operator Good day, everyone. Welcome to the IDACORP's Fourth Quarter and Year-End 2022 Earnin ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Securities registered pursuant to Section 12(g) of the Securities Exchange Act of 1934: Idaho Power Company: Preferred Stock Indicate by check mark whether the registrants are well-known seasoned issuers, as defined in Rule 405 of the Securities Act. IDACORP, Inc. Yes ☒ No ☐ Idaho Power Company Yes ☐ No ☒ Indicate by check mark if the registrants are not required to file reports pursuant to Section 13 or Section 15(d) ...

Investor Information Edison Electric Institute Financial Conference November 13-15, 2022 Forward-Looking Statements This presentation (and oral statements relating to this presentation) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical facts, that express, are based on, or involve discussions of expectations, beliefs, plans, estimates, objectives, outlook, assumptions, or future events or perfor ...

Earnings Conference Call 3 rd Quarter 2022 November 3, 2022 IDACORP. Forward-Looking Statements In addition to the historical information contained in this presentation, this presentation contains (and oral communications made by IDACORP, Inc. and Idaho Power Company may contain) statements, including, without limitation, earnings guidance and estimated key operating and financial metrics, that relate to future events and expectations and, as such, constitute forwardlooking statements within the meaning of ...

IDACORP, Inc. (NYSE:IDA) Q3 2022 Earnings Conference Call November 3, 2022 4:30 PM ET Company Participants Justin Forsberg - Director, Investor Relations and Treasury Lisa Grow - President and Chief Executive Officer Brian Buckham - Senior Vice President and Chief Financial Officer Conference Call Participants Paul Zimbardo - Bank of America Operator Welcome to IDACORP’s Third Quarter 2022 Earnings Conference Call. Today’s call is being recorded, and our webcast is live. A replay will be available later tod ...