Item 2. PROPERTIES

Alliant Energy - As a holding company, Alliant Energy doesn’t directly own any significant properties other than the stock of its subsidiaries. The principal properties of those subsidiaries are as follows:

IPL and WPL

Electric - At December 31, 2022, IPL’s and WPL’s facilities by primary fuel type were as follows:

Table of Contents

(a)Based on the accredited generating capacity included in MISO’s resource adequacy process for the planning period from June 2022 through May 2023, except for wind facilities, solar facilities and battery storage, which are based on nameplate capacity.

(b)Represents IPL’s 48% ownership interest, which is operated by IPL.

(c)Represents IPL’s 25.695% ownership interest, which is operated by MidAmerican Energy Company.

(d)Represents IPL’s 28% ownership interest, which is operated by MidAmerican Energy Company.

(e)Represents IPL’s 4% ownership interest, which is operated by MidAmerican Energy Company.

(f)Represents WPL’s 91% ownership interest, which is operated by WPL.

(g)Represents Units 2 and 3, which WPL owns. WPL also operates, but does not own, South Fond du Lac Combustion Turbines Units 1 and 4.

(h)Represents WPL’s 42.64% ownership interest, which is operated by Invenergy Services, LLC.

(i)Represents WPL’s 53.5% ownership interest, which is operated by WPL.

(j)Represents WPL’s 91% ownership interest, which is operated by WPL.

IPL and WPL own overhead electric distribution line, underground electric distribution cable and substation distribution transformers, substantially all of which are located in Iowa for IPL and Wisconsin for WPL.

Gas - IPL’s and WPL’s gas properties consist primarily of mains and services, meters, regulating and gate stations and other related transmission and distribution equipment. IPL’s and WPL’s gas distribution facilities include gas mains located in Iowa and Wisconsin, respectively.

Other - IPL’s other property includes steam service assets. Refer to Note 10 for information regarding WPL’s lease of the Sheboygan Falls Energy Facility from AEF’s Non-utility Generation business.

Corporate Services - Corporate Services’ property included in “Property, plant and equipment, net” on Alliant Energy’s balance sheet at December 31, 2022 consisted primarily of a customer billing and information system for IPL and WPL and other computer software, and the corporate headquarters building located in Madison, Wisconsin.

Table of Contents

AEF - AEF’s principal properties included in “Property, plant and equipment, net” on Alliant Energy’s balance sheet at December 31, 2022 were as follows:

Non-utility Generation - Includes the Sheboygan Falls Energy Facility, a 347 MW, simple-cycle, natural gas-fired facility near Sheboygan Falls, Wisconsin that was placed in service in 2005 and is leased to WPL. The Sheboygan Falls Energy Facility was accredited with 291 MW of generating capacity for MISO’s resource adequacy process for the planning period from June 2022 through May 2023.

Travero - Includes a short-line rail freight service in Iowa; a Mississippi River barge, rail and truck freight terminal in Illinois; and a rail-served warehouse in Iowa.