AVISTA CORP

Avista Corporation (NYSE: AVA) operates as a primarily electric and natural gas utility serving customers across the Pacific Northwest and Alaska through its website at www.avistacorp.com. The company maintains two reportable business segments: Avista Utilities, an operating division providing regulated utility services in Washington, Idaho, Oregon, and Montana, and Alaska Electric Light and Power Company (AEL&P), a wholly-owned subsidiary delivering electric services in Juneau, Alaska.

Avista Utilities supplies retail electric service to approximately 429,000 customers and retail natural gas service to approximately 386,000 customers across a 34,000 square-mile service territory with a population of 1.5 million. The company generates electricity from a diverse resource mix comprising approximately 48 percent hydroelectric, 37 percent thermal, and 15 percent other renewables as of year-end 2025. Avista Utilities owns and operates hydroelectric facilities on the Clark Fork River and Spokane River, thermal generating resources including natural gas-fired and wood waste-fired plants, and maintains power purchase agreements for wind and solar generation. The company also engages in wholesale purchases and sales of electricity and natural gas as part of its resource optimization and load-serving operations.

The company employs 1,929 individuals at Avista Utilities as of December 31, 2025, with bargaining unit employees representing 36 percent of the overall workforce. Avista Corporation maintains total shareholders' equity of $2.7 billion, including investments in Avista Capital, which manages non-utility business ventures including venture fund investments and real estate investments, and AERC, the parent company of AEL&P.

Avista has established an aspirational goal to serve customers with 100 percent clean electricity by 2045. The company is subject to various state and federal regulatory requirements, including Washington's Clean Energy Transformation Act, which prohibits the use of coal-fired generation to serve retail customers in Washington after December 31, 2025. The company transferred its ownership interest in Colstrip, a coal-fired generating facility, to NorthWestern on January 1, 2026, as part of its transition toward cleaner energy resources.