TXNM ENERGY INC (TXNM): debt financing — TXNM Energy to be acquired by Blackstone Infrastructure Partners for $61.25 per share in cash

The execution of the Merger Agreement constitutes a “Change of Control” under the following outstanding TXNM and TNMP credit facilities: • $300.0 million Twelfth Amendment to and Restatement of Credit Agreement, dated as of April 1, 2024, by and among TXNM, the lenders party thereto, and Wells Fargo Bank, National Association, as administrative agent, as amended by that certain Thirteenth Amendment to Credit Agreement dated as of June 24, 2024, maturing March 30, 2029; • $500.0 million Term Loan Agreement, dated as of June 30, 2023, by and among TXNM, the lenders party thereto, and Wells Fargo Bank, National Association, as administrative agent, maturing June 30, 2026; • $30.3 million Standby Letter of Credit facility between TXNM and Wells Fargo Bank, National Association, dated as of August 21, 2020; and • $200 million Credit Agreement dated as of April 1, 2024, by and among TNMP, the lenders party thereto identified therein and Wells Fargo Bank, National Association, as administrati

The execution of the Merger Agreement constitutes a “Change of Control” under the following outstanding TXNM and TNMP credit facilities: • $300.0 million Twelfth Amendment to and Restatement of Credit Agreement, dated as of April 1, 2024, by and among TXNM, the lenders party thereto, and Wells Fargo Bank, National Association, as administrative agent, as amended by that certain Thirteenth Amendment to Credit Agreement dated as of June 24, 2024, maturing March 30, 2029; • $500.0 million Term Loan Agreement, dated as of June 30, 2023, by and among TXNM, the lenders party thereto, and Wells Fargo Bank, National Association, as administrative agent, maturing June 30, 2026; • $30.3 million Standby Letter of Credit facility between TXNM and Wells Fargo Bank, National Association, dated as of August 21, 2020; and • $200 million Credit Agreement dated as of April 1, 2024, by and among TNMP, the lenders party thereto identified therein and Wells Fargo Bank, National Association, as administrati

TNMP has $1.505 billion of outstanding First Mortgage Bonds (“TNMP FMBs”) that include a “Bond Repurchase Event” provision. If TNMP is unable to obtain the amendment waiving the Event of Default under the TNMP Revolver within 15 calendar days of the signing the Merger Agreement, a “Bond Repurchase Event” will occur. If a “Bond Repurchase Event” occurs and is continuing, TNMP must repurchase the TNMP FMBs for a purchase price equal to the aggregate principal amount of the TNMP FMBs then outstanding, plus all accrued and unpaid interest thereon and a make-whole amount determined for the Bond Repurchase Event date with respect to such principal amount.

The execution of the Merger Agreement constitutes a “Change of Control” under the following outstanding TXNM and TNMP credit facilities: • $300.0 million Twelfth Amendment to and Restatement of Credit Agreement, dated as of April 1, 2024, by and among TXNM, the lenders party thereto, and Wells Fargo Bank, National Association, as administrative agent, as amended by that certain Thirteenth Amendment to Credit Agreement dated as of June 24, 2024, maturing March 30, 2029; • $500.0 million Term Loan Agreement, dated as of June 30, 2023, by and among TXNM, the lenders party thereto, and Wells Fargo Bank, National Association, as administrative agent, maturing June 30, 2026; • $30.3 million Standby Letter of Credit facility between TXNM and Wells Fargo Bank, National Association, dated as of August 21, 2020; and • $200 million Credit Agreement dated as of April 1, 2024, by and among TNMP, the lenders party thereto identified therein and Wells Fargo Bank, National Association, as administrati

The $1.505 billion of outstanding TNMP FMBs obligate TNMP to offer to prepay within 30 days following the signing of the Merger Agreement all of the $1.505 billion TNMP FMBs at one hundred percent (100%) of the principal amount of the TNMP FMBs, plus all accrued and unpaid interest thereon, but without any make-whole amount or other premium (the “Offer to Prepay”).

The execution of the Merger Agreement constitutes a “Change of Control” under the following outstanding TXNM and TNMP credit facilities: • $300.0 million Twelfth Amendment to and Restatement of Credit Agreement, dated as of April 1, 2024, by and among TXNM, the lenders party thereto, and Wells Fargo Bank, National Association, as administrative agent, as amended by that certain Thirteenth Amendment to Credit Agreement dated as of June 24, 2024, maturing March 30, 2029; • $500.0 million Term Loan Agreement, dated as of June 30, 2023, by and among TXNM, the lenders party thereto, and Wells Fargo Bank, National Association, as administrative agent, maturing June 30, 2026; • $30.3 million Standby Letter of Credit facility between TXNM and Wells Fargo Bank, National Association, dated as of August 21, 2020; and • $200 million Credit Agreement dated as of April 1, 2024, by and among TNMP, the lenders party thereto identified therein and Wells Fargo Bank, National Association, as administrati

On May 18, 2025, the Board, upon the recommendation of the Nominating and Governance Committee (“NGC”), elected Henry E. Monroy, Vice President, Regulatory, of TXNM’s wholly-owned utility subsidiary, Public Service Company of New Mexico (“PNM”), as TXNM’s Senior Vice President and Chief Financial Officer (Principal Financial Officer), effective as of May 19, 2025, following Ms. Eden’s retirement from such role.