Xcel Energy — Feb 5, 2026 release

Commercial paper P-2 A-2 F2 NSP-Minnesota Commercial paper P-1 A-2 F2 NSP-Wisconsin Commercial paper P-2 A-2 F2 PSCo Commercial paper P-2 A-2 F2 SPS Commercial paper P-2 A-2 F2 Capital Expenditures — Base capital expenditures for Xcel Energy for 2026 through 2030: Base Capital Forecast (Millions of Dollars) By Regulated Utility 2026 2027 2028 2029 2030 Total NSP-Minnesota $ 3,740  $ 4,870  $ 4,210  $ 3,660  $ 3,650  $ 20,130  SPS 3,050  5,120  5,350  3,240  2,270  19,030  PSCo 5,980  3,940  2,960  1,760  2,960  17,600  NSP-Wisconsin 910  1,210  760  570  580  4,030  Other (a) 110  (10) (630) (210) (50) (790) Total base capital expenditures $ 13,790  $ 15,130  $ 12,650  $ 9,020  $ 9,410  $ 60,000  (a) Other category includes intercompany transfers for equipment with long lead times. Base Capital Forecast (Millions of Dollars) By Function 2026 2027 2028 2029 2030 Total Electric transmission $ 3,060  $ 2,930  $ 2,890  $ 3,190  $ 3,370  $ 15,440  Renewables 3,560  4,620  3,380  1,150  1,210  13,920  Electric distribution 2,920  3,250  2,930  1,680  2,930  13,710  Electric generation 2,220  2,420  2,500  1,810  590  9,540  Natural gas 860  830  700  650  680  3,720  Other 1,170  1,080  250  540  630  3,670  Total base capital expenditures $ 13,790  $ 15,130  $ 12,650  $ 9,020  $ 9,410  $ 60,000  10 The plan does not include any potential incremental generation from the current Colorado Near-Term Procurement and Resource Plan, additional future generation RFPs across jurisdictions to fund growth, or additional transmission investments that may come from future planning processes including MISO and SPP. Xcel Energy expects to fund additional capital investment with approximately 40% equity and 60% debt. Xcel Energy’s capital expenditure