2023 Tri-State Investor Presentation

OUR MEMBERS COLORADO EM Empire Electric Association, Inc., Cortez GC Gunnison County Electric Association, Inc., Gunnison. HL Highline Electric Association, Holyoke KC K.C. Electric Association, Inc., Hugo LP La Plata Electric Association, Inc., Durango MC Morgan County Rural Electric Association, Fort Morgan MP Mountain Parks Electric, Inc., Granby MV Mountain View Electric Association, Inc., Limon PV Poudre Valley Rural Electric Association, Inc., Fort Collins SI San Isabel Electric Association, Inc., Pueblo West UN United Power, Inc., Brighton WR White River Electric Association, Inc., Meeker YW Y-W Electric Association, Inc., Akron OUR RESOURCES 1. Headquarters and Operations Center Westminster, CO 2. Craig Station Craig, CO 3. Burlington Station Burlington, CO Fort Lupton, CO 4. J.M. Shafer Generating Station SV San Luis Valley Rural Electric Cooperative, Inc., Monte Vista SM San Miguel Power Association, Inc., Nucla SC Sangre de Cristo Electric Association, Inc., Buena Vista 5. SE Southeast Colorado Power Association, La Junta Limon Generating Station Limon, CO 6. Frank R. Knutson Generating Station Brighton, CO 7. Rifle Generating Station (retired in 2022) Rifle, CO PH Panhandle Rural Electric Membership Association, Alliance 8. Laramie River Station Wheatland, WY 9. Pyramid Generating Station NEBRASKA CR Chimney Rock Public Power District, Bayard MW Midwest Electric Cooperative Corporation, Grant NW Northwest Rural Public Power District, Hay Springs RS Roosevelt Public Power District, Scottsbluff WB Wheat Belt Public Power District, Sidney NEW MEXICO CN Central New Mexico Electric Cooperative, Inc., Mountainair CO Columbus Electric Cooperative, Inc., Deming CD Continental Divide Electric Cooperative, Inc., Grants JM Jemez Mountains Electric Cooperative, Inc., Española MO Mora-San Miguel Electric Cooperative, Inc., Mora NR Northern Rio Arriba Electric Cooperative, Inc., Chama OC Otero County Electric Cooperative, Inc., Cloudcroft SR Sierra Electric Cooperative, Inc., Elephant Butte SO Socorro Electric Cooperative, Inc., Socorro SW Southwestern Electric Cooperative, Inc., Clayton SP Springer Electric Cooperative, Inc., Springer WYOMING BH Big Horn Rural Electric Company, Basin CB Carbon Power & Light, Inc., Saratoga GL Garland Light & Power Company, Powell HP High Plains Power, Inc., Riverton HW High West Energy, Inc., Pine Bluffs NB Niobrara Electric Association, Inc., Lusk WL Wheatland Rural Electric Association, Wheatland WY Wyrulec Company, Torrington NON-UTILITY MEMBERS Ellgen Ranch Company MIECO, Inc. Olson's Greenhouses of Colorado, LLC Lordsburg, NM 10. David A. Hamil DC Tie Stegall, NE 11. Springerville Generating Station Springerville, AZ 12. Colowyo Mine Meeker, CO 13. New Horizon Mine (in full reclamation) Nucla, CO 14. Cimarron Solar - Colfax County, NM *Generation projects will be operational by the end of 2024 15. Kit Carson Windpower Kit Carson County, CO 16. Colorado Highlands Wind Logan County, CO 17. Carousel Wind Kit Carson County, CO 18. San Isabel Solar Las Animas County, CO 19. Alta Luna Solar Luna County, NM 20. Twin Buttes II Wind Prowers County, CO 21. Crossing Trails Wind Kit Carson & Cheyenne Counties, CO 22. Niyol Wind - Logan County, CO 23. Spanish Peaks Solar (2024) Las Animas County, CO 24. Spanish Peaks II Solar (2024) Las Animas County, CO 25. Coyote Gulch Solar (2025) Montezuma County, CO 26. Dolores Canyon Solar (2024) Dolores County, CO 27. Axial Basin Solar (2024) Moffat County, CO 28. Escalante Solar (2024) McKinley County, NM Tri-State also receives power from several small hydropower projects and under long-term contracts with the Western Area Power Administration and Basin Electric Power Cooperative. NEW MEXICO COLORADO CD 11 So SR GL BH LP GC CB MP SV NR CN WYOMING MO PV NB WL WY HW NEBRASKA NW PH CR WB MC HL 2216 MW MV SP SW SE YW KC 15 3 2023 TRI-STATE INVESTOR PRESENTATION | 10

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