ALBUQUERQUE, N.M., Nov. 15, 2024 — PNM, a TXNM Energy (NYSE: TXNM) subsidiary, jointly notified the New Mexico Public Regulation Commission (NMPRC) that several parties reached a tentative settlement regarding PNM’s 2025 rate request.

To finalize a comprehensive agreement, parties filed a motion to adjust the procedural timeline, seeking to postpone the November 26, 2024, testimony deadline. They requested a scheduling conference during the week of December 2, 2024, to revise deadlines before evidentiary hearings, tentatively scheduled for mid-February 2025.

Parties involved include the New Mexico Department of Justice, Albuquerque Bernalillo Water Utility Authority, Utility Division Staff, Bernalillo County, NM AREA, and Walmart.

Any resulting agreement requires NMPRC approval.

The filing and application are accessible at .

Background:
TXNM Energy (NYSE: TXNM), an Albuquerque, New Mexico-based energy holding company, provides energy to over 800,000 homes and businesses in Texas and New Mexico through its regulated utilities, TNMP and PNM. For more details, visit .

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Forward-looking statements in this release for TXNM Energy, Inc. (“TXNM”), Public Service Company of New Mexico (“PNM”), or Texas-New Mexico Power Company (“TNMP”) (collectively, the “Company”), including financial results and earnings guidance, are made under the Private Securities Litigation Reform Act of 1995. These statements reflect current expectations and are valid only as of today’s date. TXNM, PNM, and TNMP disclaim any obligation to update this information. Because actual results may differ significantly from these forward-looking statements, caution against undue reliance is advised. Numerous factors, often beyond their control, influence the Company’s business, financial condition, cash flow, and operating results. Refer to the Company’s Form 10-K, Form 10-Q filings, and Form 8-K submissions with the Securities and Exchange Commission for a discussion of risk factors and other important factors affecting forward-looking statements.

SOURCE TXNM Energy, Inc.

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