Xcel Energy Investor Presentation — August 2024

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SECOND QUARTER 2024 EARNINGS PRESENTATION

© 2024 Xcel Energy 1

Except forthehistorical statements contained inthispresentation, thematters discussed herein areforward -looking statements thataresubject tocertain

risks, uncertainties andassumptions. Such forward -looking statements, including those relating to2024 EPS guidance, long-term EPS anddividend growth

rate objectives, future sales, future expenses, future taxrates, future operating performance, estimated base capital expenditures and financing plans,

projected capital additions andforecasted annual revenue requirements with respect torider filings, expected rateincreases tocustomers, expectations and

intentions regarding regulatory proceedings, expected pension contributions, andexpected impact onourresults ofoperations, financial condition andcash

flows ofinterest ratechanges, increased credit exposure, andlegal proceeding outcomes, aswellasassumptions andother statements areintended tobe

identified inthisdocument bythewords “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,”

“potential,” “should,” “will,” “would” andsimilar expressions. Actual results may vary materially .Forward -looking statements speak only asofthedate they are

made, andweexpressly disclaim anyobligation toupdate anyforward -looking information. The following factors, inaddition tothose discussed inXcel

Energy’s Annual Report onForm 10-Kforthefiscal year ended Dec.31,2023 andsubsequent filings with theSecurities andExchange Commission, could

cause actual results todiffer materially from management expectations assuggested bysuch forward -looking information: operational safety, including our

nuclear generation facilities andother utility operations; successful long-term operational planning; commodity risks associated with energy markets and

production ;rising energy prices andfuelcosts; qualified employee workforce andthird-party contractor factors ;violations ofourCodes ofConduct ;ourability

torecover costs and oursubsidiaries’ ability torecover costs from customers ;changes inregulation ;reductions inourcredit ratings and thecost of

maintaining certain contractual relationships; general economic conditions, including recessionary conditions, inflation rates, monetary fluctuations, supply

chain constraints andtheir impact oncapital expenditures and/or theability ofXcel Energy Inc.anditssubsidiaries toobtain financing onfavorable terms ;

availability orcost ofcapital ;ourcustomers’ andcounterparties’ ability topaytheir debts tous;assumptions andcosts relating tofunding ouremployee

benefit plans and health care benefits ;oursubsidiaries’ ability tomake dividend payments ;taxlaws;uncertainty regarding epidemics, theduration and