El Paso Electric Company announced that its acquisition by the Infrastructure Investments Fund (IIF) has closed. In connection with the closing of the transaction and consistent with associated regulatory approvals, EPE has established a new 10-member Board of Directors comprised of seven independent directors including an independent Chairman, as well as two IIF designees and EPE’s CEO. EPE’s incoming independent directors are: Frank Cassidy, Chairman, who is an electric and gas utility industry veteran having worked for Public Service Enterprise Group (PSEG) for almost 40 years in various senior executive roles, most recently as President and Chief Operating Officer of PSEG Power LLC. Kathy Alexander, who brings to the EPE Board significant legal, regulatory affairs and energy experience. She has held positions as Attorney and Corporate Officer for Southwestern Energy Company, and as Senior Vice President and General Counsel to CenterPoint Energy Arkla. Ed Escudero, who has been a member of EPE’s Board since 2013. He is President and CEO of High Desert Capital, a finance company that specializes in providing capital alternatives to small and mid-size companies. Previously, he served as Secretary and CFO of Petro Stopping Centers, LP. L. Frederick “Rick” Francis, who is Chairman and CEO of WestStar Bank, a community bank with branches in El Paso, Texas and Las Cruces, New Mexico. As a business executive and philanthropic leader in El Paso, he brings to the EPE Board deep knowledge of the local community needs and interests. Mike Jesanis, who has had a long career leading and advising high achieving companies, primarily in the utility and power sectors. As an executive, he led the transformation of a small regional integrated utility, New England Electric System, into the growth engine for National Grid, a multi-national energy company. Mr. Jesanis currently serves on the Board of Directors of NiSource Inc., a utility holding company based in Indiana, and is the past chair of the company’s Audit Committee and its Environmental, Safety and Sustainability Committee. Peter Kind, who brings significant expertise in utility and power sector finance, capital raising, investment and strategic advisory. Raymond Palacios, who has been a member of EPE’s Board since 2017. He is CEO of Bravo Chevrolet Cadillac in Las Cruces, New Mexico and Bravo Cadillac in El Paso, Texas. He previously served as Vice President of Perry Homes, based in Houston, Texas. Mr. Palacios has held various leadership positions in his industry and community. The incoming IIF designees are: Andrew “Landy” Gilbert, who is a Managing Director in the Infrastructure Investments Group at J.P. Morgan. Mr. Gilbert joined J.P. Morgan from Direct Energy where he headed power generation operations and corporate development. Under his leadership, Direct Energy significantly improved operations of the existing portfolio and developed strategies for upstream gas and power investment, investing over $1 billion in North America. Kathleen Lawler, who is an Executive Director in the Infrastructure Investments Group at J.P. Morgan. Ms. Lawler joined J.P. Morgan from Energy Capital Partners, where she focused on investments in the power sector.