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Investor Presentaiton

NSPW | Investor Fact Book October 2023 | Xcel Energy 47 NSPW | Base Capital Expenditure Forecast Dollars in Millions Electric Transmission Electric Distribution Electric Generation Other Natural Gas Total 111111 2024 2025 2026 2027 2028 Total $140 $150 $250 $290 $330 $170 $170 $140 $160 $170 $40 $160 $180 $50 $50 $1,160 $850 $440 $60 $60 $70 $70 $60 $50 $310 $50 $40 $40 $570 $600 $570 $600 $40 $650 $230 $2,990 NSPW | Authorized Equity Ratios & ROES Wisconsin Electric Wisconsin Natural Gas Michigan Electric Michigan Natural Gas NSPW | Recovery Mechanisms Wisconsin: Forward test year Biennial rate case Annual electric fuel plan with reconciliation Purchased natural gas adjustment Michigan: Forward test year Natural gas cost recovery mechanism Power supply cost recovery Equity Ratio 52.50% ROE 10.00% 52.50% 10.00% 52.50% 9.70% 52.60% 9.80%
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