Xcel Energy : Barclays Conference

FUTURE IN SIGHT

Barclays Conference September 10, 2021

Safe Harbor

Except for the historical statements contained in this presentation, the matters discussed herein are forward-looking statements that are subject to certain risks, uncertainties and assumptions. Such forward-looking statements, including the 2021 EPS guidance, long-term EPS and dividend growth rate objectives, future sales, future expenses, future tax rates, future operating performance, estimated base capital expenditures and financing plans, projected capital additions and forecasted annual revenue requirements with respect to rider filings, expected rate increases to customers, expectations and intentions regarding regulatory proceedings, and expected impact on our results of operations, financial condition and cash flows of resettlement calculations and credit losses relating to certain energy transactions, as well as assumptions and other statements are intended to be identified in this document by the words "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 as of the date they are made, and we expressly disclaim any obligation to update any forward-looking information. The following factors, in addition to those discussed in Xcel Energy's Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2020 and subsequent filings with the Securities and Exchange Commission, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: uncertainty around the impacts and duration of the COVID-19 pandemic; operational safety, including our nuclear generation facilities; successful long-term operational planning; commodity risks associated with energy markets and production; rising energy prices and fuel costs; qualified employee workforce and third- party contractor factors; ability to recover costs, changes in regulation and subsidiaries' ability to recover costs from customers; reductions in our credit ratings and the cost of maintaining certain contractual relationships; general economic conditions, including inflation rates, monetary fluctuations and their impact on capital expenditures and the ability of Xcel Energy Inc. and its subsidiaries to obtain financing on favorable terms; availability or cost of capital; our customers' and counterparties' ability to pay their debts to us; assumptions and costs relating to funding our employee benefit plans and health care benefits; our subsidiaries' ability to make dividend payments; tax laws; effects of geopolitical events, including war and acts of terrorism; cyber security threats and data security breaches; seasonal weather patterns; changes in environmental laws and regulations; climate change and other weather; natural disasters and resource depletion, including compliance with any accompanying legislative and regulatory changes; and costs of potential regulatory penalties.

Contacts

Paul Johnson	Emily Ahachich		Darin Norman
Vice President, Treasurer & IR	Director, Investor Relations		Senior Analyst, Investor Relations
612-215-4535	612-330-6054		612-337-2310
[e-mail]	[e-mail]	[e-mail]
Website: https://investors.xcelenergy.com/	Xcel Energy app also available

Attractive Investment Thesis

Pure-Play Regulated Utility that Consistently Delivers

~8-10%

Total Shareholder Return

CONSISTENT DELIVERY				Delivering 100%
TRANSPARENT GROWTH	5-7%		~2.7%
	carbon-free electricity
LEADING ESG PROFILE	EPS Growth		Dividend Yield	by 2050
	5-7%		60-70%
	Dividend CAGR	Payout Ratio

2

Sound Strategy
		CONSISTENT DELIVERY
VISION	STRATEGIC PRIORITIES
We will be the preferred	CO2	Lead the Clean Energy Transition
and trusted provider of the		80% carbon reduction by 2030
energy our customers need		100% carbon-free electricity by 2050
MISSION		Enhance the Customer Experience
	Conservation, new products and services,
We provide our customers the safe,
	renewable and EV offerings
clean, reliable energy services they		Keep Bills Low
want and value at a competitive price

Average bill increases <rate of inflation

VALUES

Connected

Committed

Safe

Trustworthy

3

Strong Growth Track Record
						CONSISTENT DELIVERY
							Ongoing EPS			$2.90-	Performance Within Guidance
												$3.00		2020
																	2019
																	2018
$1.15													2017
												2016
																	2015
2005	2007	2009	2011	2013	2015	2017	2019 2021E	2014
				Guidance Range											2013
																	2012
							Dividend								2011
																	2010																	Actual
																	2009
																																	Result
																	2008
																	2007
																	2006
																	2005
2005	2007	2009	2011	2013	2015	2017	2019	2021
	Low End	Midpoint		High End
				Annual Increase
																											4