Xcel Energy Announces Pricing Terms of Cash Tender Offers for Certain Outstanding First Mortgage Bonds Issued by Northern States Power Company (a Minnesota corporation)

Core Viewpoint - Xcel Energy Inc. has announced the pricing terms for its offers to purchase up to $345 million in aggregate principal amount of three series of first mortgage bonds issued by its subsidiary, Northern States Power Company [1] Offer Details - The offers are subject to the terms and conditions outlined in the Offer to Purchase dated December 15, 2025 [2] - The total consideration for each series of bonds has been calculated based on the fixed spread and reference yield as of December 19, 2025 [3][5] - The offers will expire at 5:00 p.m. (New York City time) on December 19, 2025, unless extended or terminated earlier [6] Financial Terms - The total consideration for the bonds is as follows: - Series due May 15, 2046: $796.20 per $1,000 principal amount [6] - Series due August 15, 2045: $849.20 per $1,000 principal amount [6] - Series due May 15, 2044: $869.57 per $1,000 principal amount [6] - The total consideration does not include accrued coupon payments, which will be paid in addition to the total consideration [5][10] Acceptance and Settlement - Bonds tendered may be validly withdrawn at any time before the expiration date [7] - The settlement date for accepted bonds is expected to be December 24, 2025 [9] - Holders of accepted bonds will receive cash payments for both the total consideration and accrued coupon payments [10] Conditions and Management - The offers are subject to certain conditions, and Xcel Energy reserves the right to waive any conditions [11] - U.S. Bancorp Investments, Inc. is serving as the Dealer Manager, while D.F. King & Co., Inc. is the Tender and Information Agent for the offers [14]