Investor Presentaiton

2019 Consolidated Ongoing Earnings Guidance PNM 2019 Earnings Guidance $2.05 Consolidated EPS $2.11 TNMP $1.59 - $1.62 $0.66 - $0.68 2019 Quarterly Ongoing EPS Distribution 18% 6% 59% 17% Corp/Other - ($0.20) – ($0.19) Q1 Q2 Q3 Q4 PNM②Resources 6

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