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Investor Presentaiton

PNM Resources Strategic Direction and Financial Goals Transform to Cleaner Energy Portfolio Meet Customer Expectations Provide Earnings and Dividend Growth • Plans to be coal-free by 2031 • Goal to be emissions-free by 2040 • Retire and replace coal-fired generation with cleaner energy portfolio • Invest to maintain system reliability Provide reliable, affordable energy while enhancing customer experience Integrate technologies and customer insights to new products and services • Enhance grid to facilitate evolving customer needs • Deliver earnings and dividend growth at or above industry-average • Earn allowed returns • Maintain investment grade credit ratings PNM②Resources 5

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