Xcel Energy — Feb 5, 2026 release

Financing for Capital Expenditures through 2030 — Xcel Energy issues debt and equity securities to refinance retiring debt maturities, reduce short-term debt, fund capital programs, infuse equity in subsidiaries, fund asset acquisitions and for general corporate purposes. Current estimated financing plans of Xcel Energy for 2026-2030 (includes the impact of tax credit transferability) (Millions of Dollars) Funding Capital Expenditures Cash from operations (a) $ 30,180  New debt (b) 22,820  Equity issuances (c) 7,000  Base capital expenditures 2026-2030 $ 60,000  Maturing debt $ 3,580  (a) Net of dividends and pension funding. (b) Reflects a combination of short and long-term debt; net of refinancing. (c) Amount could include other financing instruments that receive equity credit from the credit rating agencies. 2025 Financing Activity — During 2025, Xcel Energy and its utility subsidiaries issued the following long-term debt: Issuer Security Amount (in millions) Tenor Coupon Xcel Energy Inc. Senior Unsecured Notes $ 1,100  3 Year & 10 Year 4.75% & 5.60% NSP-Minnesota First Mortgage Bonds 1,100  10 Year & 30 Year 5.05% & 5.65% PSCo First Mortgage Bonds 1,000  9 Year & 30 Year 5.35% & 5.85% PSCo First Mortgage Bonds 1,000  10 Year & 30 Year 5.15% & 5.85% SPS First Mortgage Bonds 500  10 Year 5.30% NSP-Wisconsin First Mortgage Bonds 250  29 Year 5.65% Xcel Energy Inc. Junior Subordinated Debt 900  60 Year 6.25% During the year ended Dec. 31, 2025, Xcel Energy Inc. issued shares through a combination of at-the-market cash settlements and physical settlement of certain forward sale agreements for a total of 48.3 million shares ($3.34 billion in net proceeds). Xcel Energ