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© 2022 Xcel Energy Inc. ELECTRIC RATE INCREASE NOTICE NOTICE OF PUBLIC HEARINGS FOR XCEL ENERGY MINNESOTA CUSTOMERS Xcel Energy has asked the Minnesota Public Utilities Commission (MPUC) to approve an increase to electric rates over a three-year period beginning January 2022. The requested increase for 2022 is about 12.2 percent, or $396 million. Xcel Energy requested an additional 4.8 percent, or $150.2 million, for 2023; and an additional 4.2 percent, or $131.2 million, for 2024. On average, the proposed final rate change, which includes the 2022 Test Year and 2023 and 2024 Plan Years, would increase the bill for a typical residential electric customer by $18.56 per month. The MPUC may either approve or deny the requested changes and may approve a lesser or greater increase than was requested for any customer class or classes of service. The MPUC will likely make its decision on our rate request in the second quarter of 2023. If final rates are lower than interim (temporary) rates, ....

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