Alliant Energy (LNT) investor relations material

Strategic vision and growth outlook

• Focus on serving customers and building stronger communities, with over 95% of earnings from regulated operations and a balanced energy mix including renewables and natural gas.

• Projected ~60% increase in demand by 2031, driven by data center and industrial growth, with 3.4 GW of contracted demand.

• Long-term EPS growth target of 5-7%+, with guidance at the high end for 2027-2029 and ongoing EPS growth of ~6.5% CAGR since 2017.

• $13.4B capital expenditure plan for 2026-2029, supporting ~12% investment CAGR and robust rate base growth.

• Regulatory frameworks in Iowa and Wisconsin support disciplined, customer-driven growth and stable rates.

Load growth and customer initiatives

• Signed new Electric Service Agreements (ESAs) for major data center projects, including QTS and Google in Iowa, with full ramp by 2030.

• Individual Customer Rates (ICR) ensure large energy users pay for grid investments, protecting existing customers from subsidizing growth.

• Data center expansion brings job creation, tax base growth, and strengthens the grid, with regulatory oversight ensuring transparency.

• Iowa and Wisconsin attract business with clean energy, skilled workforce, tax incentives, and adaptable planning.

Capital investment and resource planning

• $13.4B capex from 2026-2029 allocated to energy storage, renewables, natural gas, and distribution upgrades.

• Plans include ~1,600 MW new generation, 1,000 MW energy storage, 1,300 MW new renewables, and 2 BCF LNG facility in Wisconsin.

• Safe harboring of tax credits for all renewables and storage projects in plan.

• American Transmission Company (ATC) ownership provides additional regulated returns and future investment opportunities.