Alliant Energy Corporation Profile

Corporate Overview Alliant Energy Corporation (Alliant Energy) is an electric Alliant Energy is a member of the NASDAQ CRD Global and gas utility holding company headquartered in Madison, Sustainability Index – chosen for its leadership role in Wisconsin. Alliant Energy is a component of the S&P 500. sustainability reporting. The company is committed The company is dedicated to delivering on its Purpose to voluntarily sharing its sustainability strategy and – to serve customers and build stronger communities. governance, environmental footprint and emissions Business efforts are focused on building a cleaner energy reductions, social metrics and community investments. future, keeping costs affordable and creating a simple, personalized experience for customers across Wisconsin Highlights and Iowa. Expanding rate base provides catalyst for long-term Through its utility earnings growth – Modernization of the electric and gas subsidiaries Interstate distribution systems and investment in up to 1,400 MW of Power and Light Company solar for our Wisconsin and Iowa customers are expected (IPL) and Wisconsin Power to drive growth in revenues and earnings. and Light Company (WPL), Alliant Energy provides Strong balance sheet and cash flows reduce need regulated electric and natural for equity – Alliant Energy’s 2021 financing plan includes gas service to approximately issuance of up to $25 million of new common equity 975,000 electric and through the Shareowner Direct Plan. WPL plans to issue approximately 420,000 up to $300 million of long-term debt. natural gas customers in the Attractive Midwest. common dividend The company also owns 16% of American Transmission yield – Alliant Energy Company LLC (ATC), a transmission-only utility operating has a targeted in the Midwest, and a 50% cash equity interest in the 225 dividend payout megawatt (MW) Great Western Wind Project. In addition, of 60%-70% of Alliant Energy operates a number of non-regulated its consolidated businesses, including Travero™, which provides turnkey, earnings from customized supply chain solutions, and a non-regulated continuing generating unit, which is leased to WPL. operations. The The company believes it is well positioned to grow annual targeted earnings and cash flows with its focus on exceptional common stock service, responsible use of resources and emphasis dividend for 2021 is on providing service at a competitive price. Catalysts $1.61 per share. expected to drive growth in Alliant Energy’s rate base Favorable regulatory environment – The regulatory include modernization and expansion of the electric and environment for utility companies in both Iowa and gas distribution system and expansion of solar generation. Wisconsin is considered to be among the most favorable in the United States, according to Regulatory Research Associates. Regulated utilities and corporate services Minneapolis IPL generates electricity and distributes both electricity and natural gas to retail Milwaukee customers in Iowa. IPL has approximately Beloit 495,000 retail electric customers and Chicago Cedar Rapids 225,000 retail natural gas customers. IPL’s 2020 MISO summer capacity (3,195 MWs) was 41% natural gas or oil, 37% coal, 8% wind, 4% wind purchased power and 10% energy demand management. In 2020, IPL generated approximately $1.9 billion in operating revenues. WPL generates electricity and distributes both electricity and natural gas in Wisconsin. WPL has approximately 480,000 retail electric customers and 195,000 retail natural gas customers. WPL’s 2020 MISO summer capacity (3,240 MWs) was 52% natural gas or oil, 29% coal, 9% purchased power, 4% hydro and wind, and 5% energy demand management. In 2020, WPL generated approximately $1.4 billion in operating revenues. KATIE HARDEMAN

Purchased PowerPurchased PowerPurchased Power Nuclear NuclearPurchasedNuclear PowerPurchased PowerPurchased Power *All or some of the Electric Electric Electric Wind Wind Wind IndustrialIndustrialIndustrial renewable energy 7% 7% 7% attributes associated CommercialCommercialCommercial 12% 12%Purchased12% PowerPurchased PowerPurchased Power 85% 85% 85% 36% 36% 36% with generation from 20% 20% 20% * Other* Other * Other Coal 23%Coal 23%Coal 23%8% 8% 8% these sources may be ElectricElectricElectric ElectricElectricElectric used in future years to OperatingOperating Operating comply with renewable revenuesrevenuesrevenues sales sales sales powerpower power mix mix mix sourcessourcessources energy standards or other regulatory requirements. 24% 24% 24% * * * 11% 11% 11% 20% 20% 20% 16% 16% 16%34% 34% 34% RenewablesRenewablesRenewables ResidentialResidentialResidential Sales Sales Sales Natural Natural Natural Natural GasNatural GasNatural Gas for Resalefor Resale for Resale Other OtherGas OtherGas Gas 4% 4% 4% Five-year return Dividends per share Stock Data (As of February 19, 2021) Dividends per share $200 $2.0 Ticker NASDAQ: LNT

Recent Price $47.63 $1.5 $1.52 $1.61 Market Cap $12 billion $1.34 $1.42 $150 $1.0 $1.26 Avg. Daily Volume 1,196,544

52-Week Range $37.66 - $59.80 $0.5

$100 Dividend Yield 3.4% $0.0 2013 2014 2015 Institutional2016 Ownership2017 2018 75.7% 2017 2018 2019 2020 2021* Comparison of cumulative five-yearThis information, total return including dividendwhen yield, investing is current as of February 19, 2021, *Annual common stock dividend target. Payment of the 2021 dividends is subject to the actual dividend and is not an indication of future performance. * declarationAnnual by thecommon Board of Directors stock dividend target. Payment of the 2021 $100 on December 31, 2013. dividends is subject to the actual dividend declaration by the Board of Directors.

Alliant Energy S&P 500 Index EEI Utilities Corporation Regulatory proceedings:  In the first quarter of 2020, IPL received approval from the Iowa Utilities Board (IUB) regarding IPL’s proposed settlements for its retail electric and gas rate reviews covering the 2020 Test Period. Under the settlements, IPL’s annual retail electric and gas base rates increase $127 million and $12 million, respectively. The key drivers of the filings include recovery of capital projects, partially offset by benefits of Federal Tax Reform. Within this decision, IPL also received approval to recover revenue Renewable resources requirements relating to 1,000 MW Alliant Energy owns almost of new wind generation through a 1,800 MW of regulated wind renewable energy rider. nameplate capacity. The  In the fourth quarter of 2020, WPL company has plans to invest received approval from the Public in and own up to an additional Service Commission of Wisconsin 1,400 MW of solar nameplate regarding WPL’s proposed stabilization capacity by the end of 2023. plan for its retail electric and gas rate review covering the 2021 Test Period. Under the Stabilization plan, WPL’s retail electric and gas base rates Capital expenditure projections will not change from current levels through the end of 2021. Retail electric Alliant Energy expects its capital expenditures to be approximately revenue requirements resulting from $5.9 billion in 2021 thru 2024, $1.3 billion in 2021, $1.6 billion in 2022, increasing investments in base rates $1.6 billion in 2023 and $1.4 billion in 2024. The major components of the (including the Kossuth Wind Farm and projected capital expenditures consist of the following projects: the Western Wisconsin gas distribution  Investments in electric and gas distribution systems system) are offset by lower fuel-related  Investments in up to 1,400 MW of new solar generation in Wisconsin costs and the benefits of Federal Tax and Iowa Reform.

 In 2016 and 2018, the IUB approved ratemaking principles for up to 1,000 MW (500 MW for each filing) of new wind generation. These investments Analyst coverage Contact information qualify for 100% of the federal Argus Research Company Susan Gille production tax credits. The cost cap Bank of America Merrill Lynch Manager, Investor Relations for this wind generation is $1,830 Barclays Phone: (608) 458-3956 and $1,780 per kilowatt, respectively, BMO Capital Markets [email protected] including allowance for funds used Edward Jones during construction and transmission Any opinions, estimates or forecasts Guggenheim Securities LLC costs. The approved ratemaking regarding Alliant Energy’s performance made Mizuho Securities USA by these analysts are theirs alone and do not principles include return on common Scotia Howard Weil represent opinions, forecasts or predictions equity of 11% with the exception of Alliant Energy or its management. Alliant UBS Research of certain transmission facilities Energy does not by its reference to coverage Wells Fargo by these analysts imply its endorsement classified as intangible assets, which is Wolfe Research of or concurrence with such information, authorized to earn a return on equity of conclusions or recommendations. 9.5%. For more information, including the Annual Report and our Corporate Sustainability report please visit alliantenergy.com/investors. FORWARD-LOOKING STATEMENTS  issues related to the availability and operations of EGUs, including start-up risks, breakdown or failure of This document includes forward-looking statements. These forward-looking statements can be identified by words equipment, performance below expected or contracted such as “forecast,” “expect,” “guidance,” or other words of similar import. Similarly, statements that describe future levels of output or efficiency, operator error, employee financial performance or plans or strategies are forward-looking statements. Such forward looking statements are safety, transmission constraints, compliance with subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in, or mandatory reliability standards and risks related to implied by, such statements. Actual results could be materially affected by the following factors, among others: recovery of resulting incremental costs through rates;  impacts that excessive heat, excessive cold, storms or  the direct or indirect effects resulting from the  weather effects on results of utility operations; natural disasters may have on Alliant Energy’s, IPL’s COVID-19 pandemic on sales volumes, margins,  issues associated with environmental remediation and WPL’s operations and recovery of costs associated operations, employees,contractors, vendors, the and environmental compliance, including compliance with restoration activities or on the operations of Alliant ability to complete construction projects, supply with all environmental and emissions permits, the Energy’s investments; chains, customers’ inability to pay bills,suspension of CCR rule, future changes in environmental laws and  Alliant Energy’s ability to sustain its dividend payout disconnects, the market value of the assets that fund regulations, including federal, state or local regulations ratio goal; pension plans and the potential for additional funding for CO2 emissions reductions from new and existing requirements, the ability of counterparties to meet their  changes to costs of providing benefits and related fossil-fueled EGUs, and litigation associated with funding requirements of pension and OPEB plans due obligations, compliance with regulatory requirements, environmental requirements; the ability to implement regulatory plans, economic to the market value of the assets that fund the plans,  increased pressure from customers, investors and other conditions and access to capital markets; economic conditions, financial market performance, stakeholders to more rapidly reduce CO2 emissions; interest rates, timing and form of benefits payments, life  the impact of penalties or third-party claims related to,  the ability to defend against environmental claims expectancies and demographics; or in connection with, a failure to maintain the security brought by state and federal agencies, such as the of personally identifiable information, including  material changes in employee-related benefit and EPA, state natural resources agencies or third parties, associated costs to notify affected persons and to compensation costs; such as the Sierra Club, and the impact on operating mitigate their information security concerns;  risks associated with operation and ownership of non- expenses of defending and resolving such claims;  the direct or indirect effects resulting from terrorist utility holdings;  continued access to the capital markets on competitive incidents, including physical attacks and cyber attacks,  changes in technology that alter the channels through terms and rates, and the actions of credit rating or responses to such incidents; which customers buy or utilize Alliant Energy’s, IPL’s or agencies;  the impact of customer- and third party-owned WPL’s products and services;  inflation and interest rates; generation, including alternative electric suppliers, in  impacts on equity income from unconsolidated IPL’s and WPL’s service territories on system reliability,  the ability to complete construction of solar projects investments from valuations and potential changes to operating expenses and customers’ demand for within the cost caps set by regulators and the ability to ATC’s authorized return on equity; electricity; efficiently utilize the solar project tax benefits for the  impacts of IPL’s future tax benefits from Iowa rate- benefit of customers;  the impact of energy efficiency, franchise retention and making practices, including deductions for repairs customer disconnects on sales volumes and margins;  changes in the price of delivered natural gas, expenditures, allocation of mixed service costs and the impact that price changes may have on IPL’s and transmission, purchased electricity and coal due state depreciation, and recoverability of the associated WPL’s customers’ demand for electric, gas and steam to shifts in supply and demand caused by market regulatory assets from customers, when the differences services and their ability to pay their bills; conditions and regulations; reverse in future periods;  IPL’s and WPL’s ability to obtain adequate and timely  disruptions in the supply and delivery of natural gas,  changes to the creditworthiness of counterparties with rate relief to allow for, among other things, the purchased electricity and coal; which Alliant Energy, IPL and WPL have contractual recovery of and/or the return on costs, including fuel  the direct or indirect effects resulting from breakdown arrangements, including participants in the energy costs, operating costs, transmission costs, deferred or failure of equipment in the operation of electric markets and fuel suppliers and transporters; expenditures, deferred tax assets, tax expense, capital and gas distribution systems, such as mechanical  current or future litigation, regulatory investigations, expenditures, and remaining costs related to EGUs that problems and explosions or fires, and compliance proceedings or inquiries; may be permanently closed and certain other retired with electric and gas transmission and distribution  reputational damage from negative publicity, protests, assets, decreases in sales volumes, earning their safety regulations, including regulations promulgated fines, penalties and other negative consequences authorized rates of return, and the payments to their by the Pipeline and Hazardous Materials Safety resulting in regulatory and/or legal actions; parent of expected levels of dividends; Administration;  the effect of accounting standards issued periodically by  federal and state regulatory or governmental actions, standard-setting bodies; and including the impact of legislation, and regulatory agency orders;  the ability to successfully complete tax audits and changes in tax accounting methods with no material  the ability to utilize tax credits and net operating losses impact on earnings and cash flows. generated to date, and those that may be generated in the future, before they expire;  the impacts of changes in tax rates, including Alliant Energy cannot provide assurance that the assumptions referred to in the forward-looking statements or otherwise adjustments made to deferred tax assets and liabilities; are accurate or will prove to be correct. Any assumptions that are inaccurate or do not prove to be correct could have a  employee workforce factors, including changes in key material adverse effect on Alliant Energy’s ability to achieve the results included in the forward-looking statements. The executives, ability to hire and retain employees with forward-looking statements included herein are made as of the date hereof and Alliant Energy undertakes no obligations to specialized skills, ability to create desired corporate update publicly such statements to reflect subsequent events or circumstances. culture, collective bargaining agreements and This profile is not a recommendation, an offer or a solicitation of negotiations, work stoppages or restructurings; an offer to buy or sell securities of Alliant Energy. All investment  any material post-closing payments related to any decisions should be made after considering all of the information past asset divestitures, including the sale of Whiting that Alliant Energy has filed with the Securities and Exchange Petroleum, which could result from, among other Commission, including the risks related to Alliant Energy. Such things, indemnification agreements, warranties, information can be found on the SEC’s website, www.sec.gov. guarantees or litigation;