XCEL ENERGY INC — Director's Dealing 2025

May 5, 2025

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: XCEL ENERGY INC (XEL)
CIK: 0000072903
Period of Report: 2025-05-01

Reporting Person: Sharp Scott (N/A)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	19859.073	Direct
Common Stock	95.159	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$		Common Stock (970)		Direct
Restricted Stock Units	$		Common Stock (3819)		Direct
Phantom Stock	$		Common Stock (399.315)		Direct

Footnotes

F1: Shares held in the Xcel Energy Stock Fund under the Xcel Energy 401(k) Savings Plan as of a plan statement dated April 21, 2025.

F2: Award vests on December 31, 2025.

F3: Upon vesting, each restricted stock unit may be settled in one share of Xcel Energy common stock or in the cash value thereof, or a combination of cash and shares, at the discretion of the Governance, Compensation and Nominating Committee.

F4: Award vests on December 31, 2026.

F5: Shares of phantom stock become payable in accordance with the reporting person's distribution elections made pursuant to the Xcel Energy Deferred Compensation Plan (the "Plan"). Subject to certain timing restrictions and other limitations based on the source of the amount deferred, the reporting person may generally transfer some or all of the balance in the Plan's Company stock account into an alternative Plan investment account.

F6: Each share of phantom stock represents the right to receive the cash value of one share of common stock.