Xcel Energy enters $4B equity distribution agreement for at-the-market stock sales

XCEL ENERGY INC

Up to $4B aggregate gross sales price of common stock may be sold through 20 sales agents and forward purchasers.
Sales may be made at market prices; commission up to 1% of sales price per share.
Includes collared forward transactions with Goldman Sachs International allowing prepayment and pledge of shares.
Net proceeds expected for general corporate purposes; no immediate sales but facility is active.
Filed prospectus supplement dated August 1, 2025 under existing shelf registration.

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