AVISTA CORP

Operating Activities

Net cash provided by operating activities was $435 million for the nine months ended September 30, 2026, compared to $394 million for the nine months ended September 30, 2025. The change in income taxes receivable increased operating cash flows by $34 million, primarily resulting from refunds received in 2026. The change in other current assets increased operating cash flows by $32 million compared to the prior year, and is primarily associated with increases to prepaid insurance proceeds receivable and prepayments in the prior year. Distributions from equity method investments increased operating cash flows $27 million. These increases were partially offset by a larger portion of our revenues being from decoupling surcharges in 2026, which will be recovered from customers in future periods.

Investing Activities

Net cash used in investing activities was $525 million for the nine months ended September 30, 2026, compared to $373 million for the nine months ended September 30, 2025. We paid $511 million for utility capital expenditures in 2026, compared to $379 million in 2025.

Financing Activities

Net cash provided by financing activities was $103 million for the nine months ended September 30, 2026, compared to net cash used in financing activities of $7 million for the nine months ended September 30, 2025. We issued $230 million of long-term debt in the nine months ended September 30, 2026, compared to $140 million of long-term debt issued in the nine months ended September 30, 2025. We issued $58 million of common stock in the nine months ended September 30, 2026, compared to $45 million in the nine months ended September 30, 2025. We paid $124 million in dividends in the nine months ended September 30, 2026, compared to $119 million in the nine months ended September 30, 2025.