AVISTA CORP

Our other businesses had a net loss of $1 million for the three months ended September 30, 2025 compared to $2 million for the three months ended September 30, 2024. For the first three quarters of 2025, net loss at our other business was $13 million compared to $3 million for the first three quarters of 2024.

In the third quarter of 2025, we updated our estimates for an existing environmental remediation liability at one of our subsidiaries, which resulted in a pre-tax expense of $3 million. This expense was partially offset by net investment gains.

The fluctuation in year to date results is primarily related to higher net investment losses experienced in the first half of 2025. These investment losses were partially offset by net investment gains recognized in the third quarter of 2025. Approximately 75 percent of our investment losses in 2025 were related to our investments in clean technology. That sector was negatively impacted by shifting public policy and sentiment, leading to decreased valuations of underlying holdings in these investments. Approximately 25 percent of our investment losses in 2025 were due to dilution of our ownership percentage resulting from issuance of new shares.