Xcel Energy : ESG Presentation

MANAGING ENVIRONMENTAL, SOCIAL AND GOVERNANCE ISSUES

FEBRUARY 2022

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 future sales, future expenses, future tax rates, future operating performance, projected emission reductions and other environmental impacts, estimated base capital expenditures, 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, 2021 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

Strategy, Vision and Mission

VISION

We will be the preferred and trusted provider of the energy our customers need

MISSION

We provide our customers the safe, clean, reliable energy services they want and value at a competitive price

PRIORITIES

CO2 Lead the Clean Energy Transition

• Electricity: 80% carbon reduction by 2030, 100% carbon-free by 2050
• Natural gas: 25% GHG reduction by 2030, net-zero by 2050

Enhance the Customer Experience

• Conservation, new products/services

• 1.5 million EVs enabled by 2030

Keep Bills Low

Average bill increases <rate of inflation

VALUES

Connected

Committed

Safe

Trustworthy

2

Sustainability Embedded in Strategy

We are retiring coal plants, adding renewables, helping electrify other sectors and exploring clean fuels and technologies, while providing more options for customers and keeping their bills low

LEAD THE CLEAN	ENHANCE THE	KEEP CUSTOMER
ENERGY TRANSITION	CUSTOMER EXPERIENCE	BILLS LOW
•	Climate​	•	Safety and security	•	Affordability​
•	Innovation	•	Reliability/resiliency	•	Community vitality
•	Human capital​	•	Clean energy

• Diversity, equity, inclusion

3

Comprehensive Sustainability Goals

CO2	80% lower		100%
	emissions		carbon-free
ELECTRIC	by 2030*		by 2050*
	25% lower			Net zero
	emissions
			by 2050**
NATGAS	by 2030**

70% less

water consumptionby 2030*

<rate of inflation	1.5 million
customer bill increases	EVs powered by 2030

Social impacts	$	Local communities
of coal closures mitigated	supported

Workforce	10% of spend
reflects our communities	with diverse suppliers

* Includes owned and purchased electricity serving customers
** Spans natural gas supply, distribution and customer use	4