NOTICE OF POTENTIAL FINANCING

March 20, 2025

IDAHO ENERGY RESOURCES AUTHORITY

Transmission Facilities Revenue Bonds (Bonneville Cooperation Project No. 3) Series 2025 (Federally Taxable)

BOISE, ID – The Idaho Energy Resources Authority (the “Issuer”) is considering a potential issuance of up to approximately $110,000,000* of its Transmission Facilities Revenue Bonds, Series 2025 (Federally Taxable) (the “Bonds”) to refinance debt issued by the Port of Morrow, Oregon (the “Port”), for the cost of acquiring, constructing, installing and equipping of certain transmission facilities owned by the Port and leased to Bonneville Power Administration (“BPA”).

The Bonds are currently expected to price in the Summer of 2025. Pricing will be accomplished through a syndicate including Bank of America and Wells Fargo. The preliminary structure anticipates bonds amortizing in the years 2040-2060*. The size, timing and structure of the anticipated transaction are subject to change and the Issuer and BPA reserve the right to change or modify their plans as they deem appropriate. There is no guarantee that all or a portion of the Bonds will be offered, sold or issued. There is no guarantee the transaction or structure described in this notice will be consummated or that any particular outstanding bonds will be redeemed.

Under no circumstances shall this notice constitute an offer to sell or the solicitation of an offer to buy the Bonds. Any such offer or solicitation will only be made pursuant to a preliminary official statement that prospective investors must review before making any investment decision.

For further information, please contact Ethan Postrel at Bonneville, 905 NE 11th Avenue – FTL-2, Portland, Oregon 97232, by email at edpostrel@bpa.gov, or by phone at 503.230.4759.

*Preliminary, subject to change.