Table of 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, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Name of Registrant, State of Incorporation, Address of Principal Executive Offices, Telephone Number, Commission File Number, IRS Employer Identific ...

Financial Data and Key Metrics Changes - Alliant Energy reported 2020 GAAP earnings of $2.47 per share, an increase from $2.33 per share in 2019, reflecting a year-over-year growth of more than 7% when excluding non-GAAP adjustments and temperature impacts [24] - The company achieved a consolidated earnings per share of $2.47, finishing near the top of its original earnings guidance range [9][24] - Non-GAAP temperature normalized earnings grew more than 7% over 2019, marking the 10th consecutive year of achieving a 5% to 7% growth objective [9] Business Line Data and Key Metrics Changes - Temperature-normalized retail electric sales declined by 2% in 2020 compared to 2019, primarily due to the impacts of the COVID-19 pandemic and the derecho storm [26] - The sales recovery in the second half of 2020 was attributed to the strength and resiliency of the economies in the states served [26] Market Data and Key Metrics Changes - Wisconsin's unemployment rate is 1% lower than the U.S. average, with population growth observed as residents from neighboring states move to Wisconsin [27] - Iowa's economy is recovering faster, with the state having the second-lowest unemployment rate in the country and strengthening grain prices due to increased foreign demand [27] Company Strategy and Development Direction - Alliant Energy aims to achieve a 50% reduction in carbon emissions by 2030, having already reduced emissions by 42% compared to 2005 levels [12][99] - The company plans to add approximately 400 megawatts of new solar energy by 2023, following a successful 1 gigawatt wind energy expansion in Iowa [14][15] - The clean energy blueprint includes plans for at least 1,000 megawatts of new solar power in Wisconsin, with ongoing projects to support community solar initiatives [17][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering solid returns for shareholders, with an expected 5% to 7% annual EPS growth rate through at least 2024 [28] - The company anticipates a solid path to achieving its earnings guidance for 2021, driven by investments in its core utility business [28] - Management acknowledged the challenges faced in 2020 but highlighted the company's resilience and operational success [9][22] Other Important Information - Alliant Energy's strategy includes a focus on advancing a clean energy future and improving grid resiliency through investments in technology and infrastructure [20][21] - The company has joined the Low-Carbon Resource Initiative to develop technologies for a low-carbon future [13] Q&A Session Summary Question: Can you repeat that stat about Iowa's renewable generation? - Management confirmed that Iowa is expected to achieve 50% of its generation from renewables by 2030, with a split of approximately 70% owned and 30% purchased [47][48] Question: What is the outlook for O&M expenses in 2021? - Management targets sustainable O&M reductions of approximately 3% to 5% annually, with a mix of sustainable and temporary savings identified in 2020 [49][53] Question: What are the potential rate filing outcomes in Wisconsin? - Management indicated that they are well-positioned for a rate filing and are evaluating whether it will cover one, two, or three years, with a focus on stabilizing rates [54][56] Question: Can you discuss the Columbia announcement and securitization prospects? - Management noted that they are considering the flexibility in their CapEx plan and the potential for securitization as a tool for balancing investor outcomes and customer costs [61][64] Question: How much of the carbon emissions reduction was due to the pandemic? - Management stated that while the pandemic contributed to fluctuations, the overall trajectory towards their 2030 goal remains on track [99][101]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Name of Registrant, State of Incorporation, Address of Principal Executive Offices, Telephone Number, Commission File Number, IRS Employer Identification ...

Alliant Energy Corporation Supplemental Information February 19, 2021 Earnings Call Forward Looking Statements The information regarding forecasted earnings per share, forecasted generation additions, forecasted effective income tax rates, and regulatory plans contain forward-looking statements. Actual results could differ materially because the realization of those results is subject to many uncertainties, including: the state of the economy in the service territories of IPL and WPL; state and federal legi ...

| --- | --- | --- | --- | --- | |----------------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Powering What's Next EEI Finance Conference | | | | | | November 9-11, 2020 | | | | | 1 Safe harbor 2 This presentation contains statements that may be considered forward looking statements, such as management's expectations of financial objectives and projections, capital expenditures, earnings growth, plant retirements, rate base, an ...

Financial Performance - Q3 2020 Non-GAAP earnings per share from continuing operations were $0.94[3] - Q3 2020 GAAP earnings per share from continuing operations were $0.98[3] - From Q3 2019 to Q3 2020, higher revenue requirements due to increasing rate base contributed $0.07 to earnings per share[3,4] - Higher depreciation expense negatively impacted earnings per share by $0.04 from Q3 2019 to Q3 2020[3,4] - Equity dilution decreased earnings per share by $0.04 from Q3 2019 to Q3 2020[3,4] - Other factors, including lower sales due to the Derecho and COVID-19, reduced earnings per share by $0.09 from Q3 2019 to Q3 2020[3,4] Capital Investments and Rate Base - The company anticipates receiving approximately $210 million in tax equity funding in 2022 and $480 million in 2023, which will offset capital expenditures and reduce the rate base[6] - Gross Capital Expenditures are projected to be $1380 million in 2020, $1295 million in 2021, $1625 million in 2022, $1605 million in 2023 and $1370 million in 2024[7] - Net Capital Expenditures are projected to be $1380 million in 2020, $1295 million in 2021, $1415 million in 2022, $1125 million in 2023 and $1370 million in 2024[7] Transition to Cleaner Energy - The company is transitioning to a cleaner energy resource mix, with renewables expected to constitute 53% of the energy resource mix by 2030, compared to 34% in 2020 and 5% in 2005[2] - Coal is expected to decrease from 44% in 2005 to 7% in 2030[2] - Gas is expected to be 40% in 2005, 41% in 2020 and 37% in 2030[2] Tax Rates - The overall forecasted income tax rate for 2021 is (14%) for AEC, (20%) for IPL, and (12%) for WPL[8]

Alliant Energy Corp (NASDAQ:LNT) Q3 2020 Earnings Conference Call November 3, 2020 10:00 AM ET Company Participants Susan Gille - Manager, IR John Larsen - Chairman, CEO & President Robert Durian - EVP & CFO Conference Call Participants Julien Dumoulin-Smith - Bank of America Merrill Lynch Andrew Weisel - Scotiabank Operator Good morning, and welcome to the Alliant Energy's Conference Call for the Third Quarter 2020 Results. This call is being recorded for rebroadcast. [Operator Instructions]. I would now l ...

Table of 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 September 30, 2020 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Name of Registrant, State of Incorporation, Address of Principal Executive Offices, Telephone Number, Commission File Number, IRS Employer Identif ...

[Forward-looking Statements](index=4&type=section&id=Forward-looking%20Statements) This section outlines forward-looking statements subject to risks and uncertainties that could materially alter actual results - The report contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially. Key risk factors include the ability to obtain timely rate relief, regulatory actions, the impact of the COVID-19 pandemic, customer-owned generation, and environmental compliance[14](index=14&type=chunk)[15](index=15&type=chunk) - Specific risks highlighted include the ability to complete wind and solar projects within cost caps, qualify for tax credits, manage changes in commodity prices (natural gas, electricity, coal), and handle disruptions in supply and delivery[18](index=18&type=chunk) [Part I. Financial Information](index=6&type=section&id=Part%20I.%20Financial%20Information) This part presents the unaudited condensed consolidated financial statements and management's discussion and analysis for Alliant Energy, IPL, and WPL [Item 1. Condensed Consolidated Financial Statements (Unaudited)](index=6&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated financial statements for Alliant Energy Corporation, IPL, and WPL for the period ended June 30, 2020 [Alliant Energy Corporation Financial Statements](index=6&type=section&id=Alliant%20Energy%20Corporation%20Financial%20Statements) For the six months ended June 30, 2020, Alliant Energy reported net income attributable to common shareowners of **$304.4 million**, or **$1.23 per diluted share**, a significant increase from **$219.7 million**, or **$0.93 per diluted share**, in the same period of 2019 Alliant Energy - Condensed Consolidated Statement of Income (Six Months Ended June 30) | Metric | 2020 (in millions) | 2019 (in millions) | | :--- | :--- | :--- | | **Total Revenues** | $1,678.8 | $1,777.4 | | **Operating Income** | $356.4 | $326.6 | | **Net Income** | $309.5 | $224.8 | | **Net Income Attributable to Common Shareowners** | $304.4 | $219.7 | | **Diluted EPS** | $1.23 | $0.93 | Alliant Energy - Condensed Consolidated Balance Sheet | Metric | June 30, 2020 (in millions) | Dec 31, 2019 (in millions) | | :--- | :--- | :--- | | **Total Current Assets** | $1,044.3 | $875.5 | | **Property, Plant and Equipment, net** | $13,936.4 | $13,527.1 | | **Total Assets** | $17,269.7 | $16,700.7 | | **Total Current Liabilities** | $1,220.9 | $2,054.1 | | **Long-term Debt, net** | $6,572.4 | $5,533.0 | | **Total Equity** | $5,748.3 | $5,405.1 | | **Total Liabilities and Equity** | $17,269.7 | $16,700.7 | Alliant Energy - Condensed Consolidated Statement of Cash Flows (Six Months Ended June 30) | Metric | 2020 (in millions) | 2019 (in millions) | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | $319.7 | $276.9 | | **Net Cash used for Investing Activities** | ($392.3) | ($607.0) | | **Net Cash from Financing Activities** | $264.3 | $478.8 | | **Net Increase in Cash** | $191.7 | $148.7 | [Interstate Power and Light Company (IPL) Financial Statements](index=10&type=section&id=Interstate%20Power%20and%20Light%20Company%20(IPL)%20Financial%20Statements) For the six months ended June 30, 2020, IPL's net income available for common stock was **$142.4 million**, up from **$98.3 million** in the prior-year period, with total assets increasing to **$9.68 billion** IPL - Condensed Consolidated Statement of Income (Six Months Ended June 30) | Metric | 2020 (in millions) | 2019 (in millions) | | :--- | :--- | :--- | | **Total Revenues** | $950.8 | $996.3 | | **Operating Income** | $185.4 | $148.0 | | **Net Income** | $147.5 | $103.4 | | **Net Income Available for Common Stock** | $142.4 | $98.3 | IPL - Condensed Consolidated Balance Sheet | Metric | June 30, 2020 (in millions) | Dec 31, 2019 (in millions) | | :--- | :--- | :--- | | **Total Assets** | $9,679.6 | $9,277.5 | | **Long-term Debt, net** | $3,343.5 | $2,947.3 | | **Total Equity** | $3,671.1 | $3,471.8 | [Wisconsin Power and Light Company (WPL) Financial Statements](index=13&type=section&id=Wisconsin%20Power%20and%20Light%20Company%20(WPL)%20Financial%20Statements) For the six months ended June 30, 2020, WPL reported net income of **$147.2 million**, a substantial increase from **$107.7 million** in the same period of 2019, with total assets growing to **$6.65 billion** WPL - Condensed Consolidated Statement of Income (Six Months Ended June 30) | Metric | 2020 (in millions) | 2019 (in millions) | | :--- | :--- | :--- | | **Total Revenues** | $687.5 | $741.3 | | **Operating Income** | $165.5 | $165.1 | | **Net Income** | $147.2 | $107.7 | WPL - Condensed Consolidated Balance Sheet | Metric | June 30, 2020 (in millions) | Dec 31, 2019 (in millions) | | :--- | :--- | :--- | | **Total Assets** | $6,648.4 | $6,506.5 | | **Long-term Debt, net** | $2,129.4 | $1,782.7 | | **Total Equity** | $2,451.8 | $2,363.6 | [Combined Notes to Condensed Consolidated Financial Statements](index=16&type=section&id=Combined%20Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes provide detailed explanations of accounting policies and financial items, including COVID-19 impacts, new accounting standards, regulatory matters, debt, revenues, and commitments - The COVID-19 pandemic has led to higher electric residential sales and lower commercial and industrial sales, with the total future impact remaining unknown[48](index=48&type=chunk) - On January 1, 2020, the company adopted a new credit loss accounting standard, resulting in a pre-tax **$12 million** cumulative effect adjustment to decrease retained earnings related to guarantees for an affiliate of Whiting Petroleum[52](index=52&type=chunk) - In Q2 2020, IPL issued **$42 million** in credits to retail electric customers through its transmission cost rider, reducing 'Electric transmission service' expense[55](index=55&type=chunk) - In Q1 2020, Alliant Energy settled **$222 million** under forward sale agreements by delivering **4,275,127 shares** of common stock at a weighted average price of **$51.98 per share**[61](index=61&type=chunk) - Significant long-term debt activities in 2020 include WPL issuing **$350 million** of **3.65% debentures** due 2050 and retiring **$150 million** of **4.6% debentures**, and IPL issuing **$400 million** of **2.3% senior debentures** due 2030 and retiring **$200 million** of **3.65% senior debentures**[68](index=68&type=chunk)[69](index=69&type=chunk) - Due to Whiting Petroleum's deteriorating creditworthiness, Alliant Energy recognized a **$20 million** credit loss liability as of June 30, 2020, related to partnership obligation guarantees, with an incremental pre-tax charge of **$8 million** recorded in H1 2020[94](index=94&type=chunk)[95](index=95&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=40&type=section&id=Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations%20(MD%26A)) The MD&A details the company's financial performance and condition, focusing on COVID-19 impacts, regulatory matters, operational results, liquidity, and capital resources [2020 Highlights](index=40&type=section&id=2020%20Highlights) Key highlights for 2020 include the company's response to the COVID-19 pandemic, advancements in clean energy strategy, significant financing activities, and various rate matters - **COVID-19 Impacts:** - Implemented business continuity plans, including work-from-home protocols and rescheduling of EGU outages - Experienced higher residential sales (**+5%**) and lower commercial/industrial sales (**-9%**) in Q2 2020 vs Q2 2019 - Enhanced liquidity by settling equity forward agreements and refinancing debt - WPL received authorization to defer certain incremental costs, including bad debt expenses[113](index=113&type=chunk)[116](index=116&type=chunk)[118](index=118&type=chunk)[121](index=121&type=chunk) - **Customer Investments & Strategy:** - IPL's final retail electric rates became effective, allowing recovery for new wind generation - WPL filed to maintain current base rates through 2021, utilizing fuel savings and tax benefits to offset costs of new projects - WPL filed for approval of **675 MW** of new solar generation to replace the retiring Edgewater coal plant - Alliant Energy announced a goal to eliminate all coal-fired generation by 2040 and achieve net-zero CO2 emissions by 2050[124](index=124&type=chunk)[127](index=127&type=chunk) - **Financing Activities:** - Alliant Energy settled **$222 million** under equity forward sale agreements - WPL issued **$350 million** in debentures and retired **$150 million** - IPL issued **$400 million** in senior debentures and retired **$200 million**[126](index=126&type=chunk) [Results of Operations](index=42&type=section&id=Results%20of%20Operations) For Q2 2020, Alliant Energy's consolidated EPS increased to **$0.54** from **$0.40** in Q2 2019, driven by higher utility earnings, increased rate base, favorable temperatures, and a lower effective tax rate Alliant Energy EPS by Segment (Q2) | Segment | 2020 EPS | 2019 EPS | | :--- | :--- | :--- | | Utilities and Corporate Services | $0.48 | $0.38 | | ATC Holdings | $0.04 | $0.03 | | Non-utility and Parent | $0.02 | ($0.01) | | **Alliant Energy Consolidated** | **$0.54** | **$0.40** | Utility Electric Margin Variance Drivers (Q2 2020 vs Q2 2019) | Driver | Alliant Energy (in millions) | IPL (in millions) | WPL (in millions) | | :--- | :--- | :--- | :--- | | IPL retail electric rate increases | $17 | $17 | $0 | | Estimated temperature impacts | $12 | $5 | $7 | | Higher revenues at IPL (PTC related) | $5 | $5 | $0 | | Other (incl. COVID-19 sales impact) | ($6) | ($1) | ($5) | | **Total Change** | **$26** | **$27** | **($1)** | - The decrease in the effective income tax rate for Q2 2020 to **(6.5)%** from **10.3%** in Q2 2019 was primarily due to increased production tax credits from new wind generation and increased amortization of excess deferred taxes at WPL[139](index=139&type=chunk) [Liquidity and Capital Resources](index=49&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2020, Alliant Energy maintained a strong liquidity position with **$208 million** in cash and **$815 million** available under its credit facility, with operating cash flow increasing to **$319.7 million** - At June 30, 2020, total available liquidity included **$208 million** of cash, **$815 million** of available capacity under the revolving credit facility, and **$89 million** of available capacity at IPL under its receivables sales program[142](index=142&type=chunk) Cash Flow Summary (Six Months Ended June 30) | Activity (in millions) | 2020 | 2019 | | :--- | :--- | :--- | | **Operating Activities** | $319.7 | $276.9 | | **Investing Activities** | ($392.3) | ($607.0) | | **Financing Activities** | $264.3 | $478.8 | - The increase in operating cash flow was primarily due to higher collections from IPL's rate increases, while the decrease in investing cash flow was largely due to lower expenditures for IPL's wind generation expansion and WPL's West Riverside Energy Center[144](index=144&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=52&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states that there have been no material changes to the Quantitative and Qualitative Disclosures About Market Risk as reported in its 2019 Form 10-K - Disclosures regarding market risk have not changed materially from the 2019 Form 10-K[152](index=152&type=chunk) [Item 4. Controls and Procedures](index=52&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2020, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of June 30, 2020[153](index=153&type=chunk) - No changes occurred during the quarter that materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[154](index=154&type=chunk) [Part II. Other Information](index=53&type=section&id=Part%20II.%20Other%20Information) This part provides updates on risk factors, unregistered sales of equity securities, and a list of exhibits [Risk Factors](index=53&type=section&id=Item%201A.%20Risk%20Factors) This section updates the company's risk factors, adding a detailed discussion of the potential adverse effects of the COVID-19 pandemic on business functions, financial condition, and operations - A new risk factor was added detailing the potential adverse effects of the COVID-19 pandemic[157](index=157&type=chunk) - Potential impacts include reduced commercial and industrial sales, increased customer arrears, negative effects on pension plan asset values, and potential disruptions to supply chains and construction projects, which could jeopardize qualification for renewable energy tax credits[158](index=158&type=chunk)[159](index=159&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=53&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q2 2020, Alliant Energy repurchased **6,879 shares** of its common stock on the open market at an average price of **$49.80 per share**, held in a rabbi trust Common Stock Repurchases (Q2 2020) | Period | Total Shares Purchased | Average Price Paid Per Share | | :--- | :--- | :--- | | April 2020 | 3,690 | $53.06 | | May 2020 | 3,120 | $46.00 | | June 2020 | 69 | $47.79 | | **Total** | **6,879** | **$49.80** | - All repurchased shares were purchased on the open market and are held in a rabbi trust for the Alliant Energy Deferred Compensation Plan[161](index=161&type=chunk) [Exhibits](index=54&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including officers' certificates related to new debt issuances, the 2020 Omnibus Incentive Plan, and CEO/CFO certifications - Exhibits filed include documents creating WPL's **3.65% Debentures** and IPL's **2.3% Senior Debentures**, as well as details on the Alliant Energy 2020 Omnibus Incentive Plan[163](index=163&type=chunk)

Table of 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, 2020 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Name of Registrant, State of Incorporation, Address of Principal Executive Offices, Telephone Number, Commission File Number, IRS Employer Identification Number ALLIANT ENERGY CORPORAT ...