NWE to acquire PSE's 25% Colstrip interest for $0; ownership to rise to 40%/70% of Units 3/4 by Dec 31, 2025

NorthWestern Energy Group, Inc.

Acquisition price is $0; NWE assumes operational costs from Jan 1, 2026; PSE retains pre-closing environmental and pension liabilities.
Combined with prior Avista deal (15% each unit), NWE will own 40% of Unit 3 and 70% of Unit 4 post-closing.
Transaction effective Dec 31, 2025, subject to regulatory approvals including FERC and possibly state commissions.
Other Colstrip owners have right of first refusal; NWE may exercise its ROFR if triggered.
Condition to close includes NWE entering a new coal supply agreement by Dec 31, 2024 (waivable).

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