XEL · Xcel Energy Inc

Includes 0.74 stock equivalent units. Each stock equivalent unit is the economic equivalent of one share of common stock. Whole stock equivalent units are payable in shares of common stock following termination of the reporting person's service as a director, and fractional units are payable at such time in cash.

Retainer granted in the form of stock equivalent units payable in whole shares of common stock following termination of the reporting person's service as director and fractional units are payable at such time in cash.

Of the 468.065 stock equivalent units, 390.054 were granted at a price of $82.23 per unit in lieu of the reporting person's quarterly cash retainer, and 78.011 were granted at no cost to the reporting person as a 20% premium on the amount of such retainer.

Retainer granted in the form of stock equivalent units payable in whole shares of common stock following termination of the reporting person's service as director and fractional units are payable at such time in cash.

Of the 492.521 stock equivalent units, 410.434 were granted at a price of $83.23 per unit in lieu of the reporting person's quarterly cash retainer, and 82.087 were granted at no cost to the reporting person as a 20% premium on the amount of such retainer.

Retainer granted in the form of stock equivalent units payable in whole shares of common stock following termination of the reporting person's service as director and fractional units are payable at such time in cash.

Of the 541.031 stock equivalent units, 450.859 were granted at a price of $82.23 per unit in lieu of the reporting person's quarterly cash retainer, and 90.172 were granted at no cost to the reporting person as a 20% premium on the amount of such retainer.

Retainer granted in the form of stock equivalent units payable in whole shares of common stock following termination of the reporting person's service as director and fractional units are payable at such time in cash.

Of the 583.728 stock equivalent units, 486.44 were granted at a price of $82.23 per unit in lieu of the reporting person's quarterly cash retainer, and 97.288 were granted at no cost to the reporting person as a 20% premium on the amount of such retainer.

Retainer granted in the form of stock equivalent units payable in whole shares of common stock following termination of the reporting person's service as director and fractional units are payable at such time in cash.

Of the 607.783 stock equivalent units, 506.486 were granted at a price of $82.23 per unit in lieu of the reporting person's quarterly cash retainer, and 101.297 were granted at no cost to the reporting person as a 20% premium on the amount of such retainer.

Represents stock equivalent units. Each stock equivalent unit is the economic equivalent of one share of common stock. Whole stock equivalent units are payable in shares of common stock following termination of the reporting person's service as a director, and fractional units are payable at such time in cash.

Includes 104.31 stock equivalent units acquired pursuant to the reinvestment of dividend equivalents.

Represents stock equivalent units. Each stock equivalent unit is the economic equivalent of one share of common stock. Whole stock equivalent units are payable in shares of common stock following termination of the reporting person's service as a director, and fractional units are payable at such time in cash.

Includes 148.616 stock equivalent units acquired pursuant to the reinvestment of dividend equivalents.

Represents stock equivalent units. Each stock equivalent unit is the economic equivalent of one share of common stock. Whole stock equivalent units are payable in shares of common stock following termination of the reporting person's service as a director, and fractional units are payable at such time in cash.

Includes 18.045 stock equivalent units acquired pursuant to the reinvestment of dividend equivalents.

Includes 486.952 shares of stock acquired pursuant to the reinvestment of dividend equivalents.

Represents stock equivalent units. Each stock equivalent unit is the economic equivalent of one share of common stock. Whole stock equivalent units are payable in shares of common stock following termination of the reporting person's service as a director, and fractional units are payable at such time in cash.

Includes 1.06 stock equivalent units acquired pursuant to the reinvestment of dividend equivalents.

Includes 292.329 shares of stock acquired pursuant to the reinvestment of dividend equivalents.

Represents stock equivalent units. Each stock equivalent unit is the economic equivalent of one share of common stock. Whole stock equivalent units are payable in shares of common stock following termination of the reporting person's service as a director, and fractional units are payable at such time in cash.

Includes 99.248 stock equivalent units acquired pursuant to the reinvestment of dividend equivalents.

Represents stock equivalent units. Each stock equivalent unit is the economic equivalent of one share of common stock. Whole stock equivalent units are payable in shares of common stock following termination of the reporting person's service as a director, and fractional units are payable at such time in cash.

Includes 486.951 stock equivalent units acquired pursuant to the reinvestment of dividend equivalents.

Includes 563.944 stock equivalent units. Each stock equivalent unit is the economic equivalent of one share of common stock. Whole stock equivalent units are payable in shares of common stock following termination of the reporting person's service as a director, and fractional units are payable at such time in cash.

Includes 3.645 stock equivalent units acquired pursuant to the reinvestment of dividend equivalents.

Includes 0.944 stock equivalent units. Each stock equivalent unit is the economic equivalent of one share of common stock. Whole stock equivalent units are payable in shares of common stock following termination of the reporting person's service as a director, and fractional units are payable at such time in cash.

Includes 116.383 stock equivalent units acquired pursuant to the reinvestment of dividend equivalents.

Includes 0.944 stock equivalent units. Each stock equivalent unit is the economic equivalent of one share of common stock. Whole stock equivalent units are payable in shares of common stock following termination of the reporting person's service as a director, and fractional units are payable at such time in cash.

Includes 71.567 stock equivalent units acquired pursuant to the reinvestment of dividend equivalents.

Retainer granted in the form of stock equivalent units payable in whole shares of common stock following termination of the reporting person's service as director and fractional units are payable at such time in cash.

Of the 480.215 stock equivalent units, 400.179 were granted at a price of $78.09 per unit in lieu of the reporting person's quarterly cash retainer, and 80.036 were granted at no cost to the reporting person as a 20% premium on the amount of such retainer.

Includes 105.516 stock equivalent units acquired pursuant to the reinvestment of dividend equivalents.

Retainer granted in the form of stock equivalent units payable in whole shares of common stock following termination of the reporting person's service as director and fractional units are payable at such time in cash.

Of the 518.632 stock equivalent units, 432.193 were granted at a price of $78.09 per unit in lieu of the reporting person's quarterly cash retainer, and 86.439 were granted at no cost to the reporting person as a 20% premium on the amount of such retainer.

Includes 298.045 stock equivalent units acquired pursuant to the reinvestment of dividend equivalents.

Includes 1.08 shares of stock acquired since the person's last report pursuant to the reinvestment of dividend equivalents.

Retainer granted in the form of stock equivalent units payable in whole shares of common stock following termination of the reporting person's service as director and fractional units are payable at such time in cash.

Of the 580.527 stock equivalent units, 483.772 were granted at a price of $78.09 per unit in lieu of the reporting person's quarterly cash retainer, and 96.775 were granted at no cost to the reporting person as a 20% premium on the amount of such retainer.

Includes 118.552 stock equivalent units acquired pursuant to the reinvestment of dividend equivalents.

Retainer granted in the form of stock equivalent units payable in whole shares of common stock following termination of the reporting person's service as director and fractional units are payable at such time in cash.

Of the 614.675 stock equivalent units, 512.229 were granted at a price of $78.09 per unit in lieu of the reporting person's quarterly cash retainer, and 102.446 were granted at no cost to the reporting person as a 20% premium on the amount of such retainer.

Includes 150.836 stock equivalent units acquired pursuant to the reinvestment of dividend equivalents.

Retainer granted in the form of stock equivalent units payable in whole shares of common stock following termination of the reporting person's service as director and fractional units are payable at such time in cash.

Of the 614.675 stock equivalent units, 512.229 were granted at a price of $78.09 per unit in lieu of the reporting person's quarterly cash retainer, and 102.446 were granted at no cost to the reporting person as a 20% premium on the amount of such retainer.

Includes 72.949 stock equivalent units acquired pursuant to the reinvestment of dividend equivalents.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $82.87 to $82.94, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $83.50 to $83.82, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.

Represents restricted stock units that vest on December 31, 2028 if the reporting person continues to be employed by Xcel Energy as of such date. Upon vesting, the restricted stock units will be settled in shares of Xcel Energy common stock on a one-for-one basis.

Represents restricted stock units that vest on December 31, 2028 if the reporting person continues to be employed by Xcel Energy as of such date. Upon vesting, the restricted stock units will be settled in shares of Xcel Energy common stock on a one-for-one basis.

Represents restricted stock units that vest on December 31, 2028 if the reporting person continues to be employed by Xcel Energy as of such date. Upon vesting, the restricted stock units will be settled in shares of Xcel Energy common stock on a one-for-one basis.

Represents restricted stock units that vest on December 31, 2028 if the reporting person continues to be employed by Xcel Energy as of such date. Upon vesting, the restricted stock units will be settled in shares of Xcel Energy common stock on a one-for-one basis.

Represents restricted stock units that vest on December 31, 2028 if the reporting person continues to be employed by Xcel Energy as of such date. Upon vesting, the restricted stock units will be settled in shares of Xcel Energy common stock on a one-for-one basis.

Represents restricted stock units that vest on December 31, 2028 if the reporting person continues to be employed by Xcel Energy as of such date. Upon vesting, the restricted stock units will be settled in shares of Xcel Energy common stock on a one-for-one basis.

Represents restricted stock units that vest on December 31, 2028 if the reporting person continues to be employed by Xcel Energy as of such date. Upon vesting, the restricted stock units will be settled in shares of Xcel Energy common stock on a one-for-one basis.

Represents restricted stock units that vest on December 31, 2028 if the reporting person continues to be employed by Xcel Energy as of such date. Upon vesting, the restricted stock units will be settled in shares of Xcel Energy common stock on a one-for-one basis.

Represents the withholding of shares to satisfy tax obligations upon the settlement of the 2023-2025 performance share unit awards and restricted stock unit awards. Fractional share interests were settled in cash.

Restricted stock units are settled in common stock on a one-for-one basis.

Restricted stock units are settled in common stock on a one-for-one basis.

Represents the withholding of shares to satisfy tax obligations upon the settlement of the 2023-2025 performance share unit awards and restricted stock unit awards. Fractional share interests were settled in cash.

Represents the withholding of shares to satisfy tax obligations upon the settlement of the 2023-2025 performance share unit awards and restricted stock unit awards. Fractional share interests were settled in cash.

Represents the settlement of performance share unit awards for the 2023-2025 performance period.

The amount includes 2,116.585 shares of stock acquired pursuant to the reinvestment of dividends since the reporting person's last report.

Restricted stock units are settled in common stock on a one-for-one basis.

Represents the withholding of shares to satisfy tax obligations upon the settlement of the 2023-2025 performance share unit awards and restricted stock unit awards. Fractional share interests were settled in cash.

Represents the settlement of performance share unit awards for the 2023-2025 performance period.

The amount includes 104.097 shares of stock acquired pursuant to the reinvestment of dividends since the reporting person's last report.

Restricted stock units are settled in common stock on a one-for-one basis.

Number of units shown reflects 245.776 additional units as a result of the reinvestment of dividend equivalents since the original grant.

Award vested on December 31, 2025 but was settled in shares of common stock on February 24, 2026.

Represents the settlement of performance share unit awards for the 2023-2025 performance period.

The amount includes 201.917 shares of stock acquired pursuant to the reinvestment of dividends since the reporting person's last report.

Represents the settlement of performance share unit awards for the 2023-2025 performance period.

Restricted stock units are settled in common stock on a one-for-one basis.

Number of units shown reflects 103.357 additional units as a result of the reinvestment of dividend equivalents since the original grant.

Award vested on December 31, 2025 but was settled in shares of common stock on February 24, 2026.

Restricted stock units are settled in common stock on a one-for-one basis.

Represents the withholding of shares to satisfy tax obligations upon the settlement of the 2023-2025 performance share unit awards and restricted stock unit awards. Fractional share interests were settled in cash.

Represents the settlement of performance share unit awards for the 2023-2025 performance period.

Restricted stock units are settled in common stock on a one-for-one basis.

Restricted stock units are settled in common stock on a one-for-one basis.

Number of units shown reflects the reinvestment of 308.053 dividend equivalents since the original grant of 2,927 units on January 3, 2023.

Award vested on December 31, 2025 but was settled in shares of common stock on February 24, 2026.

Restricted stock units are settled in common stock on a one-for-one basis.

Number of units shown reflects the reinvestment of dividend equivalents since the original grants of (a) 5,138 units on January 3, 2023 and (b) 350 units granted on October 1, 2023.

Award vested on December 31, 2025 but was settled in shares of common stock on February 24, 2026.