IDACORP : 2023 ESG Outreach

IDACORP, Inc.

Environmental, Social, & Governance Update

November 2023

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, outlooks, assumptions, or future events or performance are forward-looking.Forward-looking statements are not guarantees of future performance, involve estimates, assumptions, risks, and uncertainties, and may differ materially from actual results, performance, or outcomes. Risks and uncertainties that may cause actual results or outcomes to differ materially from those contained in forward-looking statements are listed in IDACORP, Inc.'s and Idaho Power Company's most recently filed periodic reports on Form 10-K and Form 10-Q, including (but not limited to) the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections, and other reports the companies file with the U.S. Securities and Exchange Commission. Risks and uncertainties include the following, among others:

• Decisions by state and federal regulators affecting Idaho Power's ability to recover its costs and earn a return on its capital investment;
• Changes to or elimination of Idaho Power's regulatory cost recovery mechanisms;
• Ability to timely construct, and expenses and risks of capital expenditures for, utility infrastructure, including the impacts of inflation, price volatility, supply chain constraints, and supplier and contractor delays and failure to satisfy project quality and performance standards;
• Impacts of economic conditions, including an inflationary or recessionary environment and increasing interest rates, on items such as operations and capital investments and changes in customer demand;
• Power demand exceeding supply, and the rapid addition of new industrial and commercial customer load and the volatility of such new load demand, resulting in increased costs for purchasing energy and capacity in the market or acquiring or constructing additional generation and transmission resources, and battery storage facilities;
• Risks of operating an electric utility system, including compliance with regulatory obligations and potential liability for outages and personal injury or property damage;
• Ability to acquire fuel, power, and transmission capacity at reasonable prices and under reasonable terms;
• Impacts of current and future governmental regulation and ability to timely obtain, and the cost of obtaining and complying with, government permits and approvals, licenses, and rights-of-way for transmission and generation projects;
• Ability to obtain debt and equity financing when necessary and on reasonable terms; and
• Ability to continue to pay dividends and achieve target-payout ratios, and contractual and regulatory restrictions on those dividends.

New factors emerge from time to time, and it is not possible for the companies to predict all such factors, nor can they 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 information, future events, or otherwise, except as required by applicable law.

IDACORP at a Glance

IDACORP Financial Snapshot(1):

• Revenue: $1.64 billion
• Diluted earnings per share: $5.11
• Annualized Dividends per share: $3.32
• Return on Year-End Equity: 9.2%
• Net Utility Plant Assets:

Idaho Power-$5.2 billion

Idaho Power Company Quick Facts:

• Vertically integrated energy company encompassing generation, transmission, and distribution
• ~620k customers; 24k sq.ml. territory
• ~72% of Idaho residents, 72 cities in Idaho; 7 cities in Oregon

Retail Revenues by Customer Class

Irrigation

12%

Industrial

16%

Residential

47%

Commercial

25%

2022

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(1) As of and for the year ended 12/31/2022, except for dividends per share, which are annualized as of November 2023.

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2022 ESG Highlights

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Governance Practices

Experienced, Diverse, Independent Directors

	Committees of the Board of Directors
			Compensation	Corp. Gov.
Director	Independent	Audit	and Human	and	Executive
			Resources	Nominating
Odette C. Bolano	✓		✓
Richard J. Dahl ‡	✓			✓	✓
Annette G. Elg	✓	✓	✓
Lisa A. Grow					©
Ronald W. Jibson	✓		✓
Judith A. Johansen	✓		©	✓	✓
Dennis Johnson	✓			©	✓
Nate R. Jorgensen	✓	✓
Jeff C. Kinneeveauk	✓	✓
Susan D. Morris	✓	✓
Richard J. Navarro	✓	©			✓
Dr. Mark Peters	✓			✓

© - Committee Chairperson

• - Independent Chairman of the Board

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Corporate Governance Highlights

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Strategic Planning

The September board meeting each year is dedicated primarily to assessing the company's long-term strategy, industry developments and trends, and metrics used to measure and drive performance.

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Compensation Design and Metrics for NEOs

Emphasis on Pay for Performance

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