Xcel Energy — Feb 5, 2026 release

Long-Term EPS and Dividend Growth Rate Objectives — Xcel Energy expects to deliver an attractive total return to our shareholders through a combination of earnings growth and dividend yield, based on the following long-term objectives: •     Deliver long-term annual EPS growth of 6% to 8+% based off of $3.80 per share. •    Deliver annual dividend increases of 4% to 6%. •     Target a dividend payout ratio of 45% to 55%. •     Maintain senior secured debt credit ratings in the A range. 18 XCEL ENERGY INC. AND SUBSIDIARIES EARNINGS RELEASE SUMMARY (UNAUDITED) (amounts in millions, except per share data) Three Months Ended Dec. 31 2025 2024 Operating revenues: Electric and natural gas $ 3,546  $ 3,105  Other 15  15  Total operating revenues 3,561  3,120  Net income $ 567  $ 464  Weighted average diluted common shares outstanding 597  576  Components of EPS — Diluted Regulated utility $ 0.94  $ 0.85  Xcel Energy Inc. and other costs 0.01  (0.05) GAAP diluted EPS (a) $ 0.95   $ 0.81   Sherco Unit 3 2011 outage refunds (See Note 6) —  —  Marshall Wildfire litigation (See Note 6) 0.01  —  Ongoing diluted EPS (a) $ 0.96   $ 0.81   Book value per share $ 39.54  $ 33.88  Cash dividends declared per common share 0.57  0.5475  Twelve Months Ended Dec. 31 2025 2024 Operating revenues: Electric and natural gas $ 14,612  $ 13,377  Other 57  64  Total operating revenues 14,669  13,441  Net income $ 2,018  $ 1,936  Weighted average diluted common shares outstanding 589  563  Components of EPS — Diluted Regulated utility $ 3.65  $ 3.76  Xcel Energy Inc. and other costs (0.23) (0.33) GAAP diluted EPS (a) $ 3.42   $ 3.44   Sherco Unit 3 2011 outage refunds (See Note 6) —  0.06  M