Xcel Energy Investor Presentation — June 2022

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J.P. Morgan Conference

Vice President, Treasurer & IR

paul.a.johnson@xcelenergy.comSafe Harbor

Director, Investor Relations

emily.a.ahachich@xcelenergy.comDarin Norman

Senior Analyst, Investor Relations

darin.norman@xcelenergy.com

Website: https://investors.xcelenergy.com/ Xcel Energy app also availableExcept forthehistorical statements contained inthispresentation, thematters discussed herein areforward -looking statements thataresubject tocertain

risks, uncertainties and assumptions .Such forward -looking statements, including the2022 EPS guidance, long- term EPS and dividend growth rate

objectives, future sales, future expenses, future taxrates, future operating performance, estimated base capital expenditures andfinancing plans, projected

capital additions andforecasted annual revenue requirements withrespect torider filings, expected rateincreases tocustomers, expectations andintentions

regarding regulatory proceedings, andexpected impact onourresults ofoperations, financial condition andcash flows ofresettlement calculations andcredit

losses relating tocertain energy transactions, aswell asassumptions andother statements areintended tobeidentified inthisdocument bythewords

“anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should,” “will,” “would” and

similar expressions .Actual results may vary materially .Forward -looking statements speak only asofthedate they aremade, andweexpressly disclaim any

obligation toupdate anyforward- looking information. Thefollowing factors, inaddition tothose discussed inXcel Energy’s Annual Report onForm 10-Kfor

thefiscal year ended Dec.31,2021 andsubsequent filings withtheSecurities andExchange Commission, could cause actual results todiffer materially from

management expectations assuggested bysuch forward -looking information :uncertainty around theimpacts and duration oftheCOVID -19pandemic,

including potential workforce impacts resulting from vaccination requirements, quarantine policies orgovernment restrictions, andsales volatility ;operational

safety, including ournuclear generation facilities andother utility operations ;successful long- term operational planning ;commodity risks associated with

energy markets andproduction; rising energy prices andfuelcosts; qualified employee workforce andthird-party contractor factors ;violations ofourCodes of

Conduct ;ability torecover costs, changes inregulation andsubsidiaries’ ability torecover costs from customers ;reductions inourcredit ratings andthecost

ofmaintaining certain contractual relationships ;general economic conditions, including inflation rates, monetary fluctuations, supply chain constraints and