On December 17, 2025, the Board of Directors (the ?Board?) of Xcel Energy Inc. (?Xcel Energy?) elected Maria Demaree, 57, to begin serving on the Board effective December 17, 2025. Ms. Demaree was appointed to serve on the Board?s Audit Committee and Operations, Nuclear, Environmental and Safety Committee. The Board determined that Ms. Demaree is independent and meets the applicable director independence requirements of the Nasdaq Stock Market LLC and Xcel Energy?s director independence standards adopted by the Board.
In connection with the election of Ms. Demaree, the Board increased the number of Xcel Energy directors from 11 to 12 pursuant to Xcel Energy?s Bylaws. Since December 2024, Ms. Demaree has served as Senior Vice President, Enterprise Business and Digital Transformation and Chief Information Officer at Lockheed Martin Corporation, a defense and aerospace manufacturing company headquartered in Bethesda, Maryland. Prior to that, she served as Vice President and General Manager, National Security Space from 2023-2024, Vice President and General Manager, Special Programs from 2021-2023, Vice President and General Manager, Mission Solutions from 2018-2021, Vice President, Ground Systems and Solutions from 2016-2018 and in various other roles at Lockheed Martin Corporation since 1990.
Demaree holds a Master of Science degree in Systems Engineering from the University of Pennsylvania and a Bachelor of Science degree in Computer Science from Pennsylvania State University.
