Northern States Power Company, a Minnesota corporation, announced today that it has submitted a redemption notice to The Depository Trust Company, as registered holder, to redeem all of its outstanding 2.15% First Mortgage Bonds, Series due August 15, 2022 (the “Bonds”) on May 20, 2022 (the “Redemption Date”). The redemption price for the Bonds will be equal to 100% of the principal amount being redeemed plus accrued and unpaid interest thereon to but excluding the Redemption Date. The aggregate principal amount of Bonds currently outstanding is $300,000,000.

This press release does not constitute a notice of redemption of the Bonds. Holders of the Bonds should refer to the notice of redemption to be delivered through The Depository Trust Company.

This press release is not an offer to sell or a solicitation of an offer to buy any securities.

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