Xcel Energy establishes $4 billion at-the-market equity program, including forward components

Client(s) Xcel Energy Inc.

Jones Day represented Xcel Energy Inc. (“Xcel Energy”) in connection with the establishment of an at-the-market equity program for the sale of up to $4 billion of its shares of Common Stock from time to time either through or to sales agents or through forward sellers who will, at Xcel Energy's request, borrow shares of Xcel Energy’s Common Stock from third parties and sell a number of shares of Common Stock equal to the number of shares underlying the forward sale agreement to hedge the forward sale agreement, under two separate forms of forward sale agreements.