AVISTA CORP

Avista Corp., incorporated in Washington in 1889, is primarily an electric and natural gas utility. The company's corporate headquarters is in Spokane, Washington. As of December 31, 2025, Avista Corp. has two reportable business segments. The Avista Utilities segment is an operating division of Avista Corp. and comprises regulated utility operations in Washington, Idaho, Oregon, and Montana. Avista Utilities provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho. It also provides natural gas distribution service in parts of northeastern and southwestern Oregon. Avista Utilities has electric generating facilities in Washington, Idaho, Oregon, and Montana, and supplies electricity to a small number of customers in Montana. This segment also engages in wholesale purchases and sales of electricity and natural gas as part of energy resource management and its load-serving obligation. The AEL&P segment is a regulated utility providing electric services in Juneau, Alaska. AEL&P is a wholly-owned subsidiary and the primary operating subsidiary of AERC. Avista Corp. also has other businesses, including venture fund investments, real estate investments, and other investments made by Avista Capital, a direct, wholly-owned subsidiary of Avista Corp. These activities are conducted by various direct and indirect subsidiaries and do not represent a reportable business segment. Total Avista Corp. shareholders' equity was $2.7 billion as of December 31, 2025, which includes a $126 million investment in Avista Capital and a $129 million investment in AERC.