IDA

• First half 2026 net income was $170.6 million, or $3.00 per diluted share, compared with $155.4 million, or $2.87 per diluted share, in the prior-year period.
• IDACORP increased the lower end of its full-year 2026 earnings guidance to $6.30–$6.45 per diluted share, from $6.25–$6.45, assuming normal weather.
• Idaho Power expects to use less than $15 million of additional tax credits under the Idaho regulatory mechanism in 2026, down from a prior estimate of less than $30 million.
• Results were driven by customer growth, rate increases, and large contract customer revenues, partially offset by higher O&M and depreciation expenses.

2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• The advisory resolution to approve executive compensation passed with 42,248,291 votes for, 2,484,500 against, and 208,084 abstentions.
• Shareholders ratified Deloitte & Touche LLP as IDACORP's independent registered public accounting firm for the year ending December 31, 2026, with 47,409,942 votes for, 1,749,100 against, and 70,141 abstentions.
• Director vote totals ranged from 42,490,018 (Dennis L. Johnson) to 44,747,054 (Sharon L. Miller) in favor, with broker non-votes of 4,288,308 on each director election.
• The report was filed under Item 5.07 to disclose the results of the shareholder votes on the three proposals.

5.07 Submission of Matters to a Vote of Security Holders

• The company also entered seven master forward sale confirmations with forward purchasers, allowing for forward sale agreements to hedge share sales.
• IDACORP will not receive initial proceeds from forward sales; proceeds are expected upon physical settlement, with cash or net share settlement options available.
• Managers and forward sellers will receive commissions of up to 1.000% of the sales price or volume-weighted average sales price, respectively.
• Shares will be sold under IDACORP's existing shelf registration statement and a prospectus supplement dated May 15, 2026.

1.01 Entry into a Material Definitive Agreement · 9.01 Financial Statements and Exhibits

• First quarter 2026 net income attributable to IDACORP was $68.0 million, or $1.21 per diluted share, compared with $59.6 million, or $1.10 per diluted share, in the first quarter of 2025.
• IDACORP reaffirmed its full-year 2026 earnings guidance of $6.25 to $6.45 per diluted share, assuming normal weather and power supply expenses.
• Idaho Power expects to use less than $30 million of additional tax credits under the Idaho regulatory mechanism in 2026.
• The company expects 250 MW of batteries to come online in 2026 and continued progress on major transmission and generation projects.

2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• Full-year 2025 net income attributable to IDACORP was $323.5 million, or $5.90 per diluted share, up from $289.2 million, or $5.50 per diluted share, in 2024.
• IDACORP initiates 2026 earnings guidance of $6.25 to $6.45 per diluted share, assuming normal weather and power supply expenses.
• 2025 results benefited from customer growth (2.3% increase), rate changes, lower income tax expense, and tax credits, partially offset by higher depreciation and financing costs.
• Idaho Power's 2025 additional ADITC amortization was $40.3 million; 2026 estimate is less than $30 million.

2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• On December 30, 2025, the Idaho Public Utilities Commission approved the Settlement Stipulation in Idaho Power's general rate case (Case No. IPC-E-25-16).
• The order authorizes a 9.6% return on equity and a 7.410% authorized rate of return on an Idaho-jurisdictional rate base of approximately $4.9 billion.
• Base level net power supply expense is set at approximately $468.8 million, a decrease of $16.1 million from the currently approved level.
• The settlement modifies the ADITC and revenue sharing mechanism, including a $55 million annual cap on accelerated amortization of investment tax credits starting in 2026.

8.01 Other Events

• The presentation shows 2025-2029 capital expenditures forecast at ~$1,127M per year average, ~103% above the ~$554M actual average of the prior five years.
• IDACORP now expects 2026-2029 capital expenditures to be approximately 20% higher than the February 2025 estimates.
• The updated forecast reflects removal of a 300 MW wind project (agreement terminated in September 2025 due to permitting delays) and addition of a proposed 167 MW Bennett gas plant.
• IDACORP plans to publish an updated capital expenditure forecast in February 2026 for 2026-2030.

7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• IDACORP increased its full-year 2025 earnings guidance to $5.80-$5.90 per diluted share, from the previous range of $5.70-$5.85.
• Customer growth of approximately 15,000 (2.3%) and higher base rates effective January 1, 2025, drove the quarterly results, partially offset by higher financing costs and depreciation.
• A constructive settlement of the Idaho general rate case was reached and is pending approval by the Idaho Public Utilities Commission.
• Idaho Power expects to use $50-$60 million of additional tax credits under the Idaho regulatory mechanism in 2025, down from the prior estimate of $60-$77 million.

2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits