Alliant Energy said WPL submitted a settlement agreement for the 2026/2027 forward-looking Test Period to the PSCW, the PSCW issued an oral decision approving it in November 2025, and a written order is expected by the end of 2025. The settlement agreement includes annual incremental rate increases for retail electric customers of $79 million in 2026 and $73 million in 2027, and a return on common equity of 9.8%.

1. 01

   Alliant Energy said WPL submitted a settlement agreement for the 2026/2027 forward-looking Test Period to the PSCW, the PSCW issued an oral decision approving it in November 2025, and a written order is expected by the end of 2025. The settlement agreement includes annual incremental rate increases for retail electric customers of $79 million in 2026 and $73 million in 2027, and a return on common equity of 9.8%.

2. 02

   Alliant Energy said over the next 6 years it currently plans to develop and/or acquire approximately 2,000 MW of natural gas resources, approximately 1,300 MW of new energy storage, and approximately 1,100 MW of new renewable generation. The plans also include improvements of approximately 530 MW at existing natural gas-fired EGUs and refurbishments at approximately 450 MW of existing wind farms.

3. 03

   Alliant Energy said WPL has entered into electric service agreements with 2 new customers who currently expect to build data centers, and IPL's and WPL's currently executed electric service agreements include aggregate peak demands of approximately 3 gigawatts. The company added that the actual timing and amount of increases in load are subject to various factors, including interconnections, siting approvals and actual customer demand.

4. 04

   Alliant Energy said it currently expects to issue up to $2.4 billion of common stock in aggregate from 2026 through 2029 through the distribution agreement, its Shareholder Direct Plan and additional future equity offerings, and announced a 5% increase in its targeted 2026 annual common stock dividend to $2.14 per share, equivalent to a quarterly rate of $0.535 per share.

Key figures

Quarter ended September 30, 2025

Revenue

$1.2B

Operating income

$349M

Net income

$281M

EPS

$1.09

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.