PNMXO / Public Service Company of New Mexico - Preferred Security - SEC-arkiveringar, Årsredovisning, Fullmaktsutlåtande

FIRST AMENDMENT TO THE TXNM ENERGY, INC. 2025 OFFICER ANNUAL INCENTIVE PLAN

Exhibit 10.7 FIRST AMENDMENT TO THE TXNM ENERGY, INC. 2025 OFFICER ANNUAL INCENTIVE PLAN TXNM Energy, Inc. (the “Company”) previously adopted the TXNM Energy, Inc. 2025 Officer Annual Incentive Plan (the “Plan”). By this instrument, the Company desires to amend the Plan as set forth below. 1.This First Amendment shall be effective as of April 14, 2025. 2.Table 3 (Award Levels Table) of Attachment

PUBLIC SERVICE COMPANY OF NEW MEXICO $200,000,000 5.47% Senior Unsecured Notes, Series C, due July 31, 2031 $150,000,000 6.03% Senior Unsecured Notes, Series D, due July 31, 2036 NOTE PURCHASE AGREEMENT Dated July 31, 2025

Exhibit 10.12 EXECUTION VERSION PUBLIC SERVICE COMPANY OF NEW MEXICO $350,000,000 $200,000,000 5.47% Senior Unsecured Notes, Series C, due July 31, 2031 $150,000,000 6.03% Senior Unsecured Notes, Series D, due July 31, 2036 NOTE PURCHASE AGREEMENT Dated July 31, 2025 4897-3451-8608 v9.docx 4481008 TABLE OF CONTENTS SECTION HEADING PAGE SECTION 1. AUTHORIZATION OF NOTES 1 SECTION 2. SALE AND PURCHA

TXNM Energy Reports Second Quarter 2025 Results

Exhibit 99.1 ALBUQUERQUE, N.M. August 1, 2025 TXNM Energy Reports Second Quarter 2025 Results •2025 second quarter GAAP earnings of $0.22 per diluted share •2025 second quarter ongoing earnings of $0.25 per diluted share •Proposed transaction with Blackstone Infrastructure expected to close in the second half of 2026 TXNM Energy (In millions, except EPS) Q2 2025 Q2 2024 YTD 2025 YTD 2024 GAAP net

FOURTH AMENDMENT TO THE TXNM ENERGY, INC. 2024 LONG-TERM INCENTIVE PLAN

FOURTH AMENDMENT TO THE TXNM ENERGY, INC. 2024 LONG-TERM INCENTIVE PLAN PNM Resources, Inc. previously adopted the 2024 Long-Term Incentive Plan (the “Plan”) pursuant to the PNM Resources, Inc. 2023 Performance Equity Plan (the “PEP”). Effective as of August 2, 2024, PNM Resources, Inc. changed its name to TXNM Energy, Inc. (the “Company”). The PEP was subsequently renamed the TXNM Energy, Inc. 20

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Name of Registrant, State of

FIFTH AMENDMENT TO THE TXNM ENERGY, INC. 2023 LONG-TERM INCENTIVE PLAN

FIFTH AMENDMENT TO THE TXNM ENERGY, INC. 2023 LONG-TERM INCENTIVE PLAN PNM Resources, Inc. previously adopted the 2023 Long-Term Incentive Plan (the “Plan”) pursuant to the PNM Resources, Inc. 2014 Performance Equity Plan (the “PEP”). The Plan has been amended on four prior occasions. Effective as of August 2, 2024, PNM Resources, Inc. changed its name to TXNM Energy, Inc. (the “Company”). The PEP

FIRST AMENDMENT TO THE TXNM ENERGY, INC. 2025 LONG-TERM INCENTIVE PLAN

Exhibit 10.8 FIRST AMENDMENT TO THE TXNM ENERGY, INC. 2025 LONG-TERM INCENTIVE PLAN TXNM Energy, Inc. (the “Company”) previously adopted the TXNM Energy, Inc. 2025 Long-Term Incentive Plan (the “Plan”) pursuant to the TXNM Energy, Inc. 2023 Performance Equity Plan (the “PEP”). By this instrument, the Company desires to amend the Plan as set forth below. 1.This First Amendment shall be effective as

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) August 1, 2025 (August 1, 2025) Na

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) August 1, 2025 (August 1, 2025) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification N

PNM, TNMP Receive Rate Approvals

For Immediate Release May 15, 2025 PNM, TNMP Receive Rate Approvals (ALBUQUERQUE, N.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) May 15, 2025 (May 15, 2025) Name o

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) May 15, 2025 (May 15, 2025) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No. T

TXNM ENERGY, INC. 2025 OFFICER ANNUAL INCENTIVE PLAN

Exhibit 10.3 TXNM ENERGY, INC. 2025 OFFICER ANNUAL INCENTIVE PLAN Introduction TXNM Energy, Inc. (the “Company” or “TXNM”) has adopted this 2025 Officer Annual Incentive Plan (the “Plan”) for the purpose of providing annual cash-based incentive awards (each an “Award”) to eligible Officers (as defined below). Capitalized terms that are used, but not defined, in this Plan document shall have the me

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Name of Registrant, State of

FIRST AMENDMENT TO THE PNM RESOURCES, INC. OFFICER RETENTION PLAN

Exhibit 10.9 FIRST AMENDMENT TO THE PNM RESOURCES, INC. OFFICER RETENTION PLAN Effective as of July 13, 2003, PNM Resources, Inc. adopted the PNM Resources, Inc. Officer Retention Plan (the “Plan”). The Plan has been amended or restated on a number of occasions and was most recently amended and restated effective October 20, 2020. Effective as of August 2, 2024, PNM Resources, Inc. changed its nam

TXNM Energy Reports First Quarter 2025 Results

Exhibit 99.1 ALBUQUERQUE, N.M. May 9, 2025 TXNM Energy Reports First Quarter 2025 Results •2025 first quarter GAAP earnings of $0.10 per diluted share •2025 first quarter ongoing earnings of $0.19 per diluted share •2025 ongoing earnings guidance range of $2.74 - $2.84 per diluted share affirmed •Long-term earnings per share growth target of 7% to 9% TXNM Energy (In millions, except EPS) Q1 2025 Q

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) May 9, 2025 (May 9, 2025) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No. TXN

TXNM ENERGY, INC. 2025 LONG-TERM INCENTIVE PLAN

Exhibit 10.6 TXNM ENERGY, INC. 2025 LONG-TERM INCENTIVE PLAN Introduction •The 2025 Long-Term Incentive Plan (the “Plan” or the “2025 Plan”) provides eligible Officers of TXNM Energy, Inc. (the “Company” or “TXNM”) with the opportunity to earn Performance Share Awards (70% of the total opportunity) and time-vested Restricted Stock Rights Awards (30% of the total opportunity). For purposes of the P

FOURTH AMENDMENT TO THE PNM RESOURCES, INC. EXECUTIVE CHOICE ACCOUNT PLAN

Exhibit 10.7 FOURTH AMENDMENT TO THE PNM RESOURCES, INC. EXECUTIVE CHOICE ACCOUNT PLAN Effective as of January 1, 1980, Public Service Company of New Mexico (“PNM”) adopted the Amended and Restated Medical Reimbursement Plan of Public Service Company of New Mexico (the “MERP”). Sponsorship of the MERP was subsequently transferred from PNM to PNM Resources, Inc. (“PNM Resources”) on November 30, 20

THIRD AMENDMENT TO THE TXNM ENERGY, INC. 2024 LONG-TERM INCENTIVE PLAN

Exhibit 10.5 THIRD AMENDMENT TO THE TXNM ENERGY, INC. 2024 LONG-TERM INCENTIVE PLAN PNM Resources, Inc. previously adopted the 2024 Long-Term Incentive Plan (the “Plan”) pursuant to the PNM Resources, Inc. 2023 Performance Equity Plan (the “PEP”). Effective as of August 2, 2024, PNM Resources, Inc. was renamed as TXNM Energy, Inc. (the “Company”). The PEP was subsequently renamed to the TXNM Energ

SECOND AMENDMENT TO THE PNM RESOURCES, INC. NON-UNION SEVERANCE PAY PLAN

Exhibit 10.8 SECOND AMENDMENT TO THE PNM RESOURCES, INC. NON-UNION SEVERANCE PAY PLAN Effective January 1, 2002, Public Service Company of New Mexico (“PNM”) adopted the Public Service Company of New Mexico Benefits My Way Plan (the “BMW Plan”), which included a number of component programs including Program 12, Non-Union Severance Pay Program (the “Non-Union Severance Program”). Effective as of N

FOURTH AMENDMENT TO THE TXNM ENERGY, INC. 2023 LONG-TERM INCENTIVE PLAN

Exhibit 10.4 FOURTH AMENDMENT TO THE TXNM ENERGY, INC. 2023 LONG-TERM INCENTIVE PLAN PNM Resources, Inc. previously adopted the 2023 Long-Term Incentive Plan (the “Plan”) pursuant to the PNM Resources, Inc. 2014 Performance Equity Plan. The Plan has been amended on three prior occasions. Effective as of August 2, 2024, PNM Resources, Inc. changed its name to TXNM Energy, Inc. (the “Company”) and t

PUBLIC SERVICE COMPANY OF NEW MEXICO $125,000,000 5.75% Senior Unsecured Notes, Series A, due June 1, 2032 $175,000,000 6.13% Senior Unsecured Notes, Series B, due June 1, 2037 NOTE PURCHASE AGREEMENT Dated April 23, 2025 TABLE OF CONTENTS

PUBLIC SERVICE COMPANY OF NEW MEXICO $300,000,000 $125,000,000 5.75% Senior Unsecured Notes, Series A, due June 1, 2032 $175,000,000 6.13% Senior Unsecured Notes, Series B, due June 1, 2037 NOTE PURCHASE AGREEMENT Dated April 23, 2025 TABLE OF CONTENTS SECTION HEADING PAGE SECTION 1. AUTHORIZATION OF NOTES 1 SECTION 2. SALE AND PURCHASE OF NOTES 1 SECTION 3. CLOSING 2 SECTION 4. CONDITIONS TO CLOS

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) April 23, 2025 (April 23, 2025) Na

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) April 23, 2025 (April 23, 2025) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification N

CORPORATE POLICY This policy applies to TXNM Energy and its wholly owned subsidiaries.

TXNM Energy CORPORATE POLICY This policy applies to TXNM Energy and its wholly owned subsidiaries.

FIRST AMENDMENT TO THE PNM RESOURCES, INC. NON-UNION SEVERANCE PAY PLAN

FIRST AMENDMENT TO THE PNM RESOURCES, INC. NON-UNION SEVERANCE PAY PLAN Effective January 1, 2002, Public Service Company of New Mexico (“PNM”) adopted the Public Service Company of New Mexico Benefits My Way Plan (the “BMW Plan”), which included a number of component programs including Program 12, Non-Union Severance Pay Program (the “Non-Union Severance Program”). Effective as of November 27, 20

TXNM ENERGY, INC. DIRECTOR DEFERRED RESTRICTED STOCK RIGHTS PROGRAM

TXNM ENERGY, INC. DIRECTOR DEFERRED RESTRICTED STOCK RIGHTS PROGRAM This TXNM Energy, Inc. Director Deferred Restricted Stock Rights Program (the “Program”) was adopted by the Board of Directors (the “Board”) of PNM Resources, Inc. pursuant to the PNM Resources, Inc. 2014 Performance Equity Plan, as such plan may be amended or restated from time to time. PNM Resources, Inc. changed its name to TXN

SECOND AMENDMENT TO THE TXNM ENERGY, INC. 2024 OFFICER ANNUAL INCENTIVE PLAN

SECOND AMENDMENT TO THE TXNM ENERGY, INC. 2024 OFFICER ANNUAL INCENTIVE PLAN PNM Resources, Inc. previously adopted the 2024 Officer Annual Incentive Plan (the “Plan”). The Plan has been amended on one prior occasion. Effective as of August 2, 2024, PNM Resources, Inc. was changed its name to TXNM Energy, Inc. (the “Company”). By this instrument, the Company desires to amend the Plan as set forth

THIRD AMENDMENT TO THE TXNM ENERGY, INC. 2022 LONG-TERM INCENTIVE PLAN

THIRD AMENDMENT TO THE TXNM ENERGY, INC. 2022 LONG-TERM INCENTIVE PLAN PNM Resources, Inc. previously adopted the 2022 Long-Term Incentive Plan (the “Plan”) pursuant to the PNM Resources, Inc. 2014 Performance Equity Plan. The Plan has been amended on two prior occasions. Effective as of August 2, 2024, PNM Resources, Inc. changed its name to TXNM Energy, Inc. (the “Company”) and the Plan has been

Subsidiaries of TXNM Energy, Inc.

EXHIBIT 21 Subsidiaries of TXNM Energy, Inc. As of December 31, 2024, TXNM Energy, Inc. directly or indirectly owns all of the voting securities of the following subsidiaries: Public Service Company of New Mexico, a New Mexico corporation that does business under the names “Public Service Company of New Mexico” and “PNM”. PNM Energy Transition Bond Company I, LLC, a New Mexico corporation that doe

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Name of Registrant, State of Inco

FIRST AMENDMENT TO THE PNM RESOURCES, INC. 2023 PERFORMANCE EQUITY PLAN

FIRST AMENDMENT TO THE PNM RESOURCES, INC. 2023 PERFORMANCE EQUITY PLAN Effective as of May 9, 2023, PNM Resources, Inc. adopted the PNM Resources, Inc. 2023 Performance Equity Plan (the “Plan”). Effective as of August 2, 2024, PNM Resources, Inc. changed its name to TXNM Energy, Inc (the “Company”). By this instrument, the Plan is hereby amended to change the name of the Plan and the sponsoring e

THIRD AMENDMENT TO THE TXNM ENERGY, INC. 2023 LONG-TERM INCENTIVE PLAN

THIRD AMENDMENT TO THE TXNM ENERGY, INC. 2023 LONG-TERM INCENTIVE PLAN PNM Resources, Inc. previously adopted the 2023 Long-Term Incentive Plan (the “Plan”) pursuant to the PNM Resources, Inc. 2014 Performance Equity Plan. The Plan has been amended on two prior occasions. Effective as of August 2, 2024, PNM Resources, Inc. changed its name to TXNM Energy, Inc. (the “Company”) and the Plan has been

Description of the Registrant’s Securities Registered Under Section 12 of the Securities Exchange Act of 1934 DESCRIPTION OF COMMON STOCK AND PREFERRED STOCK

Exhibit 4.1 Description of the Registrant’s Securities Registered Under Section 12 of the Securities Exchange Act of 1934 DESCRIPTION OF COMMON STOCK AND PREFERRED STOCK The following summary of the material terms of the common stock and preferred stock of TXNM Energy, Inc. (“we” or “our”) does not purport to be complete and is subject to and qualified in its entirety by reference to our articles

SECOND AMENDMENT TO THE TXNM ENERGY, INC. 2024 LONG-TERM INCENTIVE PLAN

SECOND AMENDMENT TO THE TXNM ENERGY, INC. 2024 LONG-TERM INCENTIVE PLAN PNM Resources, Inc. previously adopted the 2024 Long-Term Incentive Plan (the “Plan”) pursuant to the PNM Resources, Inc. 2023 Performance Equity Plan. PNM Resources, Inc. was subsequently renamed as TXNM Energy, Inc. (the “Company”) and the PNM Resources, Inc. 2023 Performance Equity Plan was subsequently renamed as the TXNM

THIRD AMENDMENT TO THE PNM RESOURCES, INC. EXECUTIVE SAVINGS PLAN II

THIRD AMENDMENT TO THE PNM RESOURCES, INC. EXECUTIVE SAVINGS PLAN II Effective as of December 15, 2004, PNM Resources, Inc. adopted the PNM Resources, Inc. Executive Savings Plan II (the “Plan”). The Plan has been amended or restated on a number of occasions, with the most recent restatement being generally effective as of January 1, 2015. The Plan has been amended on two previous occasions. Effec

PUBLIC SERVICE COMPANY OF NEW MEXICO MASTER NUCLEAR DECOMMISSIONING TRUST FUND AGREEMENT FOR PALO VERDE NUCLEAR GENERATING STATION

PUBLIC SERVICE COMPANY OF NEW MEXICO MASTER NUCLEAR DECOMMISSIONING TRUST FUND AGREEMENT FOR PALO VERDE NUCLEAR GENERATING STATION THIS MASTER NUCLEAR DECOMMISSIONING TRUST FUND AGREEMENT FOR THE PALO VERDE NUCLEAR GENERATING STATION, is dated as of June 3, 2024 between PUBLIC SERVICE COMPANY OF NEW MEXICO, a corporation duly organized and existing under the laws of the State of New Mexico (the “Grantor”), and THE NORTHERN TRUST COMPANY, a corporation duly organized and existing under the laws of the State of Illinois (the “Trustee”).

TXNM Energy reports 2024 earnings, increases investment plan and earnings growth targets

Exhibit 99.1 ALBUQUERQUE, N.M. February 21, 2025 TXNM Energy reports 2024 earnings, increases investment plan and earnings growth targets •2024 GAAP earnings of $2.67 per diluted share, ongoing earnings of $2.74 per diluted share achieves guidance expectation •2025 ongoing earnings guidance range introduced at $2.74 - $2.84 per diluted share reflects strong Texas growth, mid-year implementation of

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) February 21, 2025 (February 21, 2025) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identifica

Entry into a Material Definitive Agreement, Financial Statements and Exhibits, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) January 21, 2025 (January 21, 2025) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identificati

ent, dated as of January 21, 2025, among Public Service Comp

Exhibit 10.1 $195,000,000 TERM LOAN AGREEMENT among PUBLIC SERVICE COMPANY OF NEW MEXICO, as Borrower, THE LENDERS IDENTIFIED HEREIN, and CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH as Administrative Agent DATED AS OF JANUARY 21, 2025 CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH and BOFA SECURITIES, INC. as Joint Lead Arrangers and Joint Bookrunners SECTION 1 DEFINITIONS AND ACCOUNT

SECOND AMENDMENT TO THE PNM RESOURCES, INC. 2023 LONG-TERM INCENTIVE PLAN

SECOND AMENDMENT TO THE PNM RESOURCES, INC. 2023 LONG-TERM INCENTIVE PLAN PNM Resources, Inc. previously adopted the 2023 Long-Term Incentive Plan (the “Plan”) pursuant to the PNM Resources, Inc. 2014 Performance Equity Plan (the “PEP”). The Plan has been amended on one prior occasion. PNM Resources, Inc. was subsequently renamed as TXNM Energy, Inc. (the “Company”). By this instrument, the Compan

FIRST AMENDMENT TO THE PNM RESOURCES, INC. 2024 OFFICER ANNUAL INCENTIVE PLAN

FIRST AMENDMENT TO THE PNM RESOURCES, INC. 2024 OFFICER ANNUAL INCENTIVE PLAN PNM Resources, Inc. previously adopted the 2024 Officer Annual Incentive Plan (the “Plan”). PNM Resources, Inc. was subsequently renamed as TXNM Energy, Inc. (the “Company”). By this instrument, the Company desires to amend the Plan as set forth below. 1.This First Amendment shall be effective as of the date executed bel

SIGN-ON EQUITY GRANT RESTRICTED STOCK RIGHTS AWARD AGREEMENT

09/04/2024 SIGN-ON EQUITY GRANT RESTRICTED STOCK RIGHTS AWARD AGREEMENT THIS RESTRICTED STOCK RIGHTS AWARD AGREEMENT (the “Agreement”) is entered into by and between TXNM Energy, Inc.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Name of Registrant, Stat

TXNM Energy Reports Third Quarter 2024 Results 2024 Ongoing Earnings Guidance Narrowed

Exhibit 99.1 ALBUQUERQUE, N.M. November 1, 2024 TXNM Energy Reports Third Quarter 2024 Results 2024 Ongoing Earnings Guidance Narrowed •2024 third quarter GAAP earnings of $1.45 per diluted share •2024 third quarter ongoing earnings of $1.43 per diluted share •Narrowed 2024 ongoing earnings guidance range to $2.70 - $2.75 TXNM Energy (In millions, except EPS) Q3 2024 Q3 2023 YTD 2024 YTD 2023 GAAP

FIRST AMENDMENT TO THE PNM RESOURCES, INC. 2024 LONG-TERM INCENTIVE PLAN

FIRST AMENDMENT TO THE PNM RESOURCES, INC. 2024 LONG-TERM INCENTIVE PLAN PNM Resources, Inc. previously adopted the 2024 Long-Term Incentive Plan (the “Plan”) pursuant to the PNM Resources, Inc. 2023 Performance Equity Plan (the “PEP”). PNM Resources, Inc. was subsequently renamed as TXNM Energy, Inc. (the “Company”). By this instrument, the Company desires to amend the Plan as set forth below. 1.

SECOND AMENDMENT TO THE PNM RESOURCES, INC. 2022 LONG-TERM INCENTIVE PLAN

SECOND AMENDMENT TO THE PNM RESOURCES, INC. 2022 LONG-TERM INCENTIVE PLAN PNM Resources, Inc. previously adopted the 2022 Long-Term Incentive Plan (the “Plan”) pursuant to the PNM Resources, Inc. 2014 Performance Equity Plan (the “PEP”). The Plan has been amended on one prior occasion. PNM Resources, Inc. was subsequently renamed as TXNM Energy, Inc. (the “Company”). By this instrument, the Compan

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) November 1, 2024 (November 1, 2024) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identificati

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Name of Registrant, State of

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) July 31, 2024 (July 31, 2024) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No.

PNM Resources Reports Second Quarter 2024 Results 2024 Ongoing Earnings Guidance Affirmed

Exhibit 99.1 ALBUQUERQUE, N.M. July 31, 2024 PNM Resources Reports Second Quarter 2024 Results 2024 Ongoing Earnings Guidance Affirmed •2024 second quarter GAAP earnings of $0.53 per diluted share •2024 second quarter ongoing earnings of $0.60 per diluted share •Affirmed ongoing earnings guidance range of $2.65 - $2.75 •Name change to TXNM Energy, trading under TXNM ticker expected August 5, 2024

Entry into a Material Definitive Agreement, Financial Statements and Exhibits, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) May 10, 2024 (May 10, 2024) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No. P

TERM LOAN AGREEMENT PUBLIC SERVICE COMPANY OF NEW MEXICO, as Borrower, THE LENDERS IDENTIFIED HEREIN, and U.S. BANK NATIONAL ASSOCIATION, as Administrative Agent DATED AS OF MAY 10, 2024 U.S. BANK NATIONAL ASSOCIATION KEYBANK NATIONAL ASSOCIATION as

Exhibit 10.1 Deal CUSIP 74454EAS4 Term Loan CUSIP 74454EAT2 $200,000,000 TERM LOAN AGREEMENT among PUBLIC SERVICE COMPANY OF NEW MEXICO, as Borrower, THE LENDERS IDENTIFIED HEREIN, and U.S. BANK NATIONAL ASSOCIATION, as Administrative Agent DATED AS OF MAY 10, 2024 U.S. BANK NATIONAL ASSOCIATION and KEYBANK NATIONAL ASSOCIATION as Joint Lead Arrangers and Joint Bookrunners TABLE OF CONTENTS SECTIO

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Name of Registrant, State of

PNM RESOURCES, INC. 2024 OFFICER ANNUAL INCENTIVE PLAN

PNM RESOURCES, INC. 2024 OFFICER ANNUAL INCENTIVE PLAN Introduction PNM Resources, Inc. (the “Company” or “PNMR”) has adopted this 2024 Officer Annual Incentive Plan (the “Plan”) for the purpose of providing annual cash-based incentive awards (each an “Award”) to eligible Officers (as defined below). Capitalized terms that are used, but not defined, in this Plan document shall have the meanings gi

FIRST AMENDMENT TO THE PNM RESOURCES, INC. 2023 LONG-TERM INCENTIVE PLAN

FIRST AMENDMENT TO THE PNM RESOURCES, INC. 2023 LONG-TERM INCENTIVE PLAN The 2023 Long-Term Incentive Plan (the “Plan”) was adopted pursuant to the PNM Resources, Inc. 2014 Performance Equity Plan (the “PEP”). By this instrument, the Company desires to amend the Plan as set forth below. 1.The fourth, fifth, and sixth bullet points (out of 13 bullet points in the Section) under the “Other Provision

PNM RESOURCES, INC. 2024 LONG-TERM INCENTIVE PLAN

PNM RESOURCES, INC. 2024 LONG-TERM INCENTIVE PLAN Introduction •The 2024 Long-Term Incentive Plan (the “Plan” or the “2024 Plan”) provides eligible Officers of PNM Resources, Inc. (the “Company” or “PNMR”) with the opportunity to earn Performance Share Awards (70% of the total opportunity) and time-vested Restricted Stock Rights Awards (30% of the total opportunity). For purposes of the Plan, “Off

PNM Resources Reports First Quarter 2024 Results 2024 Ongoing Earnings Guidance Affirmed

Exhibit 99.1 ALBUQUERQUE, N.M. April 30, 2024 PNM Resources Reports First Quarter 2024 Results 2024 Ongoing Earnings Guidance Affirmed •2024 first quarter GAAP earnings of $0.52 per diluted share •2024 first quarter ongoing earnings of $0.41 per diluted share •Affirmed ongoing earnings guidance range of $2.65 - $2.75 PNM Resources (In millions, except EPS) Q1 2024 Q1 2023 GAAP net earnings attribu

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) April 30, 2024 (April 30, 2024) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification N

$300,000,000 TWELFTH AMENDMENT TO AND RESTATEMENT OF CREDIT AGREEMENT among PNM RESOURCES, INC., as Borrower, THE LENDERS IDENTIFIED HEREIN, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent and BANK OF AMERICA, N.A., CITIBANK, N.A., MU

Exhibit 10.1 $300,000,000 TWELFTH AMENDMENT TO AND RESTATEMENT OF CREDIT AGREEMENT among PNM RESOURCES, INC., as Borrower, THE LENDERS IDENTIFIED HEREIN, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent and BANK OF AMERICA, N.A., CITIBANK, N.A., MUFG BANK, LTD., THE BANK OF NOVA SCOTIA and ROYAL BANK OF CANADA, as Co-Syndication Agents DATED AS OF APRIL 1, 2024 WELLS FARGO SECURITIE

Entry into a Material Definitive Agreement, Financial Statements and Exhibits, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) April 1, 2024 (April 1, 2024) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No.

___________________________________________________________________________ TEXAS-NEW MEXICO POWER COMPANY U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee TWENTY-FIRST SUPPLEMENTAL INDENTURE dated as of April 1, 2024 Supplemental to the Fir

Exhibit 4.1 TEXAS-NEW MEXICO POWER COMPANY to U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee TWENTY-FIRST SUPPLEMENTAL INDENTURE dated as of April 1, 2024 Supplemental to the First Mortgage Indenture dated as of March 23, 2009 (file no.: 09-0007931211) Establishing a series of Securities designated FIRST MORTGAGE BONDS, SERIES 2024C THIS INSTRUMENT GRANTS A SECURITY INTEREST BY A UTILIT

$200,000,000 CREDIT AGREEMENT TEXAS-NEW MEXICO POWER COMPANY, as the Borrower, THE LENDERS IDENTIFIED HEREIN WELLS FARGO BANK, NATIONAL ASSOCIATION, as the Administrative Agent BANK OF AMERICA, N.A., CITIBANK, N.A., MUFG BANK, LTD., THE BANK OF NOVA

Exhibit 10.3 $200,000,000 CREDIT AGREEMENT among TEXAS-NEW MEXICO POWER COMPANY, as the Borrower, THE LENDERS IDENTIFIED HEREIN WELLS FARGO BANK, NATIONAL ASSOCIATION, as the Administrative Agent and BANK OF AMERICA, N.A., CITIBANK, N.A., MUFG BANK, LTD., THE BANK OF NOVA SCOTIA and ROYAL BANK OF CANADA, as Co-Syndication Agents DATED AS OF APRIL 1, 2024 WELLS FARGO SECURITIES, LLC, BOFA SECURITIE

$400,000,000 SEVENTH AMENDMENT TO AND RESTATEMENT OF CREDIT AGREEMENT PUBLIC SERVICE COMPANY OF NEW MEXICO, as Borrower, THE LENDERS IDENTIFIED HEREIN, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent and BANK OF AMERICA, N.A., CIT

Exhibit 10.2 $400,000,000 SEVENTH AMENDMENT TO AND RESTATEMENT OF CREDIT AGREEMENT among PUBLIC SERVICE COMPANY OF NEW MEXICO, as Borrower, THE LENDERS IDENTIFIED HEREIN, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent and BANK OF AMERICA, N.A., CITIBANK, N.A., MUFG BANK, LTD., THE BANK OF NOVA SCOTIA and ROYAL BANK OF CANADA, as Co-Syndication Agents DATED AS OF APRIL 1, 2024

PNM RESOURCES, INC. CLAWBACK POLICY

Exhibit 97 PNM RESOURCES, INC. CLAWBACK POLICY The Board of Directors of PNM Resources, Inc. (the “Board”) has determined that it is in the best interests of PNM Resources, Inc. (the “Company”) and its shareholders to adopt a Clawback Policy (the “Policy”). In addition to any amounts that are to be recovered on behalf of the Company by the Securities and Exchange Commission pursuant to Section 304

Terms and Conditions of Restricted Stock Rights Award to Non-Employee Directors

Exhibit 10.59 Acknowledgement Form Dear: Name of Director Pursuant to the PNM Resources, Inc. 2023 Performance Equity Plan (the ‘Plan’), you have been granted a Restricted Stock Rights Award for shares of stock of PNM Resources, Inc. as outlined below. Employee ID: Granted To: Grant ID: Grant Date: Granted: Grant Price: $0.000000 [1] Vesting Schedule: 1 year cliff By my acceptance below, I hereby

EMPLOYEE RETENTION AGREEMENT

Exhibit 10.81 EMPLOYEE RETENTION AGREEMENT THIS AGREEMENT is entered into by and between PNMR Services Company (the “Company”) and Joseph D. Tarry (the “Employee”) (each, a “Party” and collectively, the “Parties”) as of December 4, 2023 (the “Effective Date”). RECITALS On October 20, 2020, PNM Resources, Inc. (“PNMR”) entered into the Merger Agreement with Avangrid and NM Green Holdings, Inc., pur

EMPLOYEE RETENTION AGREEMENT

Exhibit 10.82 EMPLOYEE RETENTION AGREEMENT THIS AGREEMENT is entered into by and between PNMR Services Company (the “Company”) and Patricia K. Collawn (the “Employee”) (each, a “Party” and collectively, the “Parties”) as of December 5, 2023 (the “Effective Date”). RECITALS On October 20, 2020, PNM Resources, Inc. (“PNMR”) entered into the Merger Agreement with Avangrid and NM Green Holdings, Inc.,

EMPLOYEE RETENTION AGREEMENT

Exhibit 10.83 EMPLOYEE RETENTION AGREEMENT THIS AGREEMENT is entered into by and between PNMR Services Company (the “Company”) and Patrick V. Apodaca (the “Employee”) (each, a “Party” and collectively, the “Parties”) as of December 5, 2023 (the “Effective Date”). RECITALS On October 20, 2020, PNM Resources, Inc. (“PNMR”) entered into the Merger Agreement with Avangrid and NM Green Holdings, Inc.,

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Name of Registrant, State of Inco

Subsidiaries of PNM Resources, Inc.

EXHIBIT 21 Subsidiaries of PNM Resources, Inc. As of December 31, 2023, PNM Resources, Inc. directly or indirectly owns all of the voting securities of the following subsidiaries: Public Service Company of New Mexico, a New Mexico corporation that does business under the names “Public Service Company of New Mexico” and “PNM”. PNM Energy Transition Bond Company I, LLC, a New Mexico corporation that

PNM Resources Reports 2023 Results and Introduces 2024 Earnings Guidance Conference call at 11 a.m. Eastern today

Exhibit 99.1 ALBUQUERQUE, N.M. February 6, 2024 PNM Resources Reports 2023 Results and Introduces 2024 Earnings Guidance Conference call at 11 a.m. Eastern today •2023 GAAP earnings of $1.02 per diluted share •2023 ongoing earnings of $2.82 per diluted share •2024 ongoing earnings guidance range of $2.65 - $2.75 per diluted share PNM Resources (In millions, except EPS) 2023 2022 GAAP net earnings

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) February 6, 2024 (February 6, 2024) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identificati

November 15, 2023

Exhibit 99.2 Stephen M. Williams Seth V. Bingham Timothy R. Briggs Thomas R. Mack Kirk R. Allen Paula G. Maynes M. Dylan O’Reilly Jennifer D. Hall Todd A. Schwarz Richard L. Alvidrez Matthew S. Rappaport Luke A. Salganek Dan A. Akenhead Max A. Jones Elizabeth M. Reitzel Mara E. Anderson Laureana A. Larkin Andrew Q. Varan Cooper J. Williams Of Counsel Ranne B. Miller (Ret.) William K. Stratvert Vir

ADMINISTRATION AGREEMENT

Exhibit 10.3 ADMINISTRATION AGREEMENT This ADMINISTRATION AGREEMENT, dated as of November 15, 2023, is entered into by and between Public Service Company of New Mexico, a New Mexico corporation, as administrator, and PNM Energy Transition Bond Company I, LLC, a Delaware limited liability company (the “Issuer”). Capitalized terms used but not otherwise defined in this Administration Agreement shall

INDENTURE by and among PNM ENERGY TRANSITION BOND COMPANY I, LLC, as Issuer U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Trustee U.S. BANK NATIONAL ASSOCIATION as Securities Intermediary Dated as of November 15, 2023 Table of Contents

Exhibit 4.1 INDENTURE by and among PNM ENERGY TRANSITION BOND COMPANY I, LLC, as Issuer and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Trustee and U.S. BANK NATIONAL ASSOCIATION as Securities Intermediary Dated as of November 15, 2023 Table of Contents Page ARTICLE I DEFINITIONS AND RULES OF CONSTRUCTION; INCORPORATION BY REFERENCE 9 Section 1.01. Definitions and Rules of Construc

Financial Statements and Exhibits

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): November 15, 2023 Commission File Number Registrant; State of Incorporation; Address; and Telephone Number IRS Employer Identification No. 001-06986 PUBLIC SERVICE COMPANY OF NEW MEXI

ENERGY TRANSITION PROPERTY SERVICING AGREEMENT by and between PNM ENERGY TRANSITION BOND COMPANY I, LLC, Issuer PUBLIC SERVICE COMPANY OF NEW MEXICO, Servicer Acknowledged and Accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Tr

Exhibit 10.1 ENERGY TRANSITION PROPERTY SERVICING AGREEMENT by and between PNM ENERGY TRANSITION BOND COMPANY I, LLC, Issuer and PUBLIC SERVICE COMPANY OF NEW MEXICO, Servicer Acknowledged and Accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Trustee Dated as of November 15, 2023 Table of Contents Page ARTICLE I DEFINITIONS AND RULES OF CONSTRUCTION 1 Section 1.01 Definitions

ENERGY TRANSITION PROPERTY PURCHASE AND SALE AGREEMENT by and between PNM ENERGY TRANSITION BOND COMPANY I, LLC, PUBLIC SERVICE COMPANY OF NEW MEXICO, Acknowledged and Accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Trustee Da

Exhibit 10.2 ENERGY TRANSITION PROPERTY PURCHASE AND SALE AGREEMENT by and between PNM ENERGY TRANSITION BOND COMPANY I, LLC, Issuer and PUBLIC SERVICE COMPANY OF NEW MEXICO, Seller Acknowledged and Accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Trustee Dated as of November 15, 2023 TABLE OF CONTENTS ARTICLE I. DEFINITIONS AND RULES OF CONSTRUCTION 1 SECTION 1.01. Definiti

PRELIMINARY STATEMENT

Exhibit 4.2 This SERIES SUPPLEMENT, dated as of November 15, 2023 (this “Supplement”), is by and among PNM ENERGY TRANSITION BOND COMPANY I, LLC, a limited liability company created under the laws of the State of Delaware (the “Issuer”), U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, a national banking association (“Bank”), in its capacity as indenture trustee (the “Indenture Trustee”), and U.S. B

November 15, 2023

Exhibit 99.1 Troutman Pepper Hamilton Sanders LLP 600 Peachtree Street NE, Suite 3000 Atlanta, GA 30308-2216 troutman.com November 15, 2023 To: The persons listed on Exhibit A attached hereto Re: Opinion Concerning Federal Constitutional Issues Pertaining to Energy Transition Bonds, Series A of PNM Energy Transition Bond Company I, LLC Ladies and Gentlemen, We have acted as special counsel for Pub

$343,200,000 Senior Secured Energy Transition Bonds, Series A Public Service Company of New Mexico Sponsor, Depositor and Initial Servicer Central Index Key Number: 000081023 PNM Energy Transition Bond Company I, LLC Issuing Entity Central Index Key

TABLE OF CONTENTS  Filed Pursuant to Rule 424(b)(1)  Registration Nos. 333-274433 and 333-274433-01 PROSPECTUS $343,200,000 Senior Secured Energy Transition Bonds, Series A Public Service Company of New Mexico Sponsor, Depositor and Initial Servicer Central Index Key Number: 000081023 PNM Energy Transition Bond Company I, LLC Issuing Entity Central Index Key Number: 0001992267 Tranche Expected Wei

ADMINISTRATION AGREEMENT

Exhibit 10.3 ADMINISTRATION AGREEMENT This ADMINISTRATION AGREEMENT, dated as of November 15, 2023, is entered into by and between Public Service Company of New Mexico, a New Mexico corporation, as administrator, and PNM Energy Transition Bond Company I, LLC, a Delaware limited liability company (the “Issuer”). Capitalized terms used but not otherwise defined in this Administration Agreement shall

ENERGY TRANSITION PROPERTY SERVICING AGREEMENT by and between PNM ENERGY TRANSITION BOND COMPANY I, LLC, Issuer PUBLIC SERVICE COMPANY OF NEW MEXICO, Servicer Acknowledged and Accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Tr

Exhibit 10.1 ENERGY TRANSITION PROPERTY SERVICING AGREEMENT by and between PNM ENERGY TRANSITION BOND COMPANY I, LLC, Issuer and PUBLIC SERVICE COMPANY OF NEW MEXICO, Servicer Acknowledged and Accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Trustee Dated as of November 15, 2023 Table of Contents Page ARTICLE I DEFINITIONS AND RULES OF CONSTRUCTION 1 Section 1.01 Definitions

INDENTURE by and among PNM ENERGY TRANSITION BOND COMPANY I, LLC, as Issuer U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Trustee U.S. BANK NATIONAL ASSOCIATION as Securities Intermediary Dated as of November 15, 2023 Table of Contents

Exhibit 4.1 INDENTURE by and among PNM ENERGY TRANSITION BOND COMPANY I, LLC, as Issuer and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Trustee and U.S. BANK NATIONAL ASSOCIATION as Securities Intermediary Dated as of November 15, 2023 Table of Contents Page ARTICLE I DEFINITIONS AND RULES OF CONSTRUCTION; INCORPORATION BY REFERENCE 9 Section 1.01. Definitions and Rules of Construc

ENERGY TRANSITION PROPERTY PURCHASE AND SALE AGREEMENT by and between PNM ENERGY TRANSITION BOND COMPANY I, LLC, PUBLIC SERVICE COMPANY OF NEW MEXICO, Acknowledged and Accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Trustee Da

Exhibit 10.2 ENERGY TRANSITION PROPERTY PURCHASE AND SALE AGREEMENT by and between PNM ENERGY TRANSITION BOND COMPANY I, LLC, Issuer and PUBLIC SERVICE COMPANY OF NEW MEXICO, Seller Acknowledged and Accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Trustee Dated as of November 15, 2023 TABLE OF CONTENTS ARTICLE I. DEFINITIONS AND RULES OF CONSTRUCTION 1 SECTION 1.01. Definiti

AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT PNM ENERGY TRANSITION BOND COMPANY I, LLC Dated and Effective as of November 7, 2023 TABLE OF CONTENTS

Exhibit 3.2 AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT OF PNM ENERGY TRANSITION BOND COMPANY I, LLC Dated and Effective as of November 7, 2023 TABLE OF CONTENTS Page(s) ARTICLE I GENERAL PROVISIONS 1 SECTION 1.01. Definitions 1 SECTION 1.02. Sole Member; Registered Office and Agent 2 SECTION 1.03. Other Offices 3 SECTION 1.04. Name 3 SECTION 1.05. Purpose; Nature of Business Permitte

Financial Statements and Exhibits

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): November 7, 2023 Commission File Number Registrant; State of Incorporation; Address; and Telephone Number IRS Employer Identification No. 001-06986 PUBLIC SERVICE COMPANY OF NEW MEXIC

PNM ENERGY TRANSITION BOND COMPANY I, LLC PUBLIC SERVICE COMPANY OF NEW MEXICO $343,200,000 SENIOR SECURED ENERGY TRANSITION BONDS, SERIES A UNDERWRITING AGREEMENT

Exhibit 1.1 PNM ENERGY TRANSITION BOND COMPANY I, LLC PUBLIC SERVICE COMPANY OF NEW MEXICO $343,200,000 SENIOR SECURED ENERGY TRANSITION BONDS, SERIES A UNDERWRITING AGREEMENT November 7, 2023 To the Representatives named in Schedule I hereto of the Underwriters named in Schedule II hereto Ladies and Gentlemen: 1.          Introduction. PNM Energy Transition Bond Company I, LLC, a Delaware limited

PNM Energy Transition Bond Company I, LLC (“Issuing Entity”) PRICING TERM SHEET $343,200,000 Senior Secured Energy Transition Bonds, Series A (the “Bonds”) November 7, 2023

Free Writing Prospectus, dated November 7, 2023 Filed pursuant to Rule 433 under the Securities Act of 1933 Supplementing the Preliminary Prospectus, dated October 30, 2023 Registration Statement Nos.

PRELIMINARY STATEMENT

Exhibit 4.2 This SERIES SUPPLEMENT, dated as of November 15, 2023 (this “Supplement”), is by and among PNM ENERGY TRANSITION BOND COMPANY I, LLC, a limited liability company created under the laws of the State of Delaware (the “Issuer”), U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, a national banking association (“Bank”), in its capacity as indenture trustee (the “Indenture Trustee”), and U.S. B

PNM Energy Transition Bond Company I, LLC (Issuing Entity) PRELIMINARY TERM SHEET $343,200,000 Senior Secured Energy Transition Bonds, Series A (the “Bonds”) November 2, 2023

Free Writing Prospectus, dated November 2, 2023 Filed pursuant to Rule 433 under the Securities Act of 1933 Supplementing the Preliminary Prospectus, dated October 30, 2023 Registration Statement Nos.

[Signature Page Follows]

November 2, 2023 Securities and Exchange Commission Division of Corporation Finance 100 F Street, N.

Public Service Company of New Mexico 414 Silver Avenue SW Albuquerque, New Mexico 87102

Public Service Company of New Mexico 414 Silver Avenue SW Albuquerque, New Mexico 87102 November 2, 2023 VIA EDGAR Securities and Exchange Commission Division of Corporation Finance 100 F Street, N.

As filed with the Securities and Exchange Commission on October 30, 2023

TABLE OF CONTENTS As filed with the Securities and Exchange Commission on October 30, 2023 REGISTRATION NOS.

INDENTURE by and among PNM ENERGY TRANSITION BOND COMPANY I, LLC, as Issuer U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Trustee U.S. BANK NATIONAL ASSOCIATION as Securities Intermediary Dated as of [·], 2023 Table of Contents

Exhibit 4.1 INDENTURE by and among PNM ENERGY TRANSITION BOND COMPANY I, LLC, as Issuer and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Trustee and U.S. BANK NATIONAL ASSOCIATION as Securities Intermediary Dated as of [·], 2023 Table of Contents Page ARTICLE I DEFINITIONS AND RULES OF CONSTRUCTION; INCORPORATION BY REFERENCE 9 Section 1.01. Definitions and Rules of Construction 9 S

PNM ENERGY TRANSITION BOND COMPANY I, LLC PUBLIC SERVICE COMPANY OF NEW MEXICO $343,200,000 SENIOR SECURED ENERGY TRANSITION BONDS, SERIES A UNDERWRITING AGREEMENT

Exhibit 1.1 PNM ENERGY TRANSITION BOND COMPANY I, LLC PUBLIC SERVICE COMPANY OF NEW MEXICO $343,200,000 SENIOR SECURED ENERGY TRANSITION BONDS, SERIES A UNDERWRITING AGREEMENT [●], 2023 To the Representatives named in Schedule I hereto of the Underwriters named in Schedule II hereto Ladies and Gentlemen: 1.          Introduction. PNM Energy Transition Bond Company I, LLC, a Delaware limited liabil

ENERGY TRANSITION PROPERTY SERVICING AGREEMENT by and between PNM ENERGY TRANSITION BOND COMPANY I, LLC, Issuer PUBLIC SERVICE COMPANY OF NEW MEXICO, Servicer Acknowledged and Accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Tr

Exhibit 10.1 ENERGY TRANSITION PROPERTY SERVICING AGREEMENT by and between PNM ENERGY TRANSITION BOND COMPANY I, LLC, Issuer and PUBLIC SERVICE COMPANY OF NEW MEXICO, Servicer Acknowledged and Accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Trustee Dated as of [], 2023 Table of Contents Page ARTICLE I DEFINITIONS AND RULES OF CONSTRUCTION 1 Section 1.01 Definitions and Rule

AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT PNM ENERGY TRANSITION BOND COMPANY I, LLC Dated and Effective as of [●], 2023 TABLE OF CONTENTS

Exhibit 3.2 AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT OF PNM ENERGY TRANSITION BOND COMPANY I, LLC Dated and Effective as of [●], 2023 TABLE OF CONTENTS Page(s) ARTICLE I GENERAL PROVISIONS 1 SECTION 1.01. Definitions 1 SECTION 1.02. Sole Member; Registered Office and Agent 2 SECTION 1.03. Other Offices 3 SECTION 1.04. Name 3 SECTION 1.05. Purpose; Nature of Business Permitted; Powe

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) October 27, 2023 (October 27, 2023) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identificati

PNM Resources Reports Third Quarter 2023 Results Q3 Weather Adjusts Expectations for 2023 Ongoing Earnings

Exhibit 99.1 ALBUQUERQUE, N.M. October 27, 2023 PNM Resources Reports Third Quarter 2023 Results Q3 Weather Adjusts Expectations for 2023 Ongoing Earnings •2023 third quarter GAAP earnings of $0.44 per diluted share •2023 third quarter ongoing earnings of $1.54 per diluted share •2023 ongoing earnings guidance range adjusted to $2.75 - $2.80 PNM Resources (In millions, except EPS) Q3 2023 Q3 2022

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Name of Registrant, Stat

ADMINISTRATION AGREEMENT

Exhibit 10.3 ADMINISTRATION AGREEMENT This ADMINISTRATION AGREEMENT, dated as of [●], 2023, is entered into by and between Public Service Company of New Mexico, a New Mexico corporation, as administrator, and PNM Energy Transition Bond Company I, LLC, a Delaware limited liability company (the “Issuer”). Capitalized terms used but not otherwise defined in this Administration Agreement shall have th

ENERGY TRANSITION PROPERTY SERVICING AGREEMENT by and between PNM ENERGY TRANSITION BOND COMPANY I, LLC, Issuer PUBLIC SERVICE COMPANY OF NEW MEXICO, Servicer Acknowledged and Accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Tr

Exhibit 10.1 ENERGY TRANSITION PROPERTY SERVICING AGREEMENT by and between PNM ENERGY TRANSITION BOND COMPANY I, LLC, Issuer and PUBLIC SERVICE COMPANY OF NEW MEXICO, Servicer Acknowledged and Accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Trustee Dated as of [], 2023 Table of Contents Page ARTICLE I DEFINITIONS AND RULES OF CONSTRUCTION 1 Section 1.01 Definitions and Rule

Order on Remand Adopting Uncontested Stipulation*

Exhibit 99.5 BEFORE THE NEW MEXICO PUBLIC REGULATION COMMISSION IN THE MATTER OF PUBLIC SERVICE ) COMPANY OF NEW MEXICO’S ) ABANDONMENT OF SAN JUAN ) Case No. 19-00018-UT GENERATING STATION UNITS 1 AND 4 ) ) ORDER ON REMAND ADOPTING UNCONTESTED STIPULATION THIS MATTER comes before the Public Regulation Commission (“the Commission”) upon the Supreme Court’s Remand in Case No. S-1-SC-39440. For the

INDENTURE by and among PNM ENERGY TRANSITION BOND COMPANY I, LLC, as Issuer U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Trustee U.S. BANK NATIONAL ASSOCIATION as Securities Intermediary Dated as of [·], 2023 Table of Contents

Exhibit 4.1 INDENTURE by and among PNM ENERGY TRANSITION BOND COMPANY I, LLC, as Issuer and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Trustee and U.S. BANK NATIONAL ASSOCIATION as Securities Intermediary Dated as of [·], 2023 Table of Contents Page ARTICLE I DEFINITIONS AND RULES OF CONSTRUCTION; INCORPORATION BY REFERENCE 9 Section 1.01. Definitions and Rules of Construction 9 S

AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT PNM ENERGY TRANSITION BOND COMPANY I, LLC Dated and Effective as of [●], 2023 TABLE OF CONTENTS

Exhibit 3.2 AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT OF PNM ENERGY TRANSITION BOND COMPANY I, LLC Dated and Effective as of [●], 2023 TABLE OF CONTENTS Page(s) ARTICLE I GENERAL PROVISIONS 1 SECTION 1.01. Definitions 1 SECTION 1.02. Sole Member; Registered Office and Agent 2 SECTION 1.03. Other Offices 3 SECTION 1.04. Name 3 SECTION 1.05. Purpose; Nature of Business Permitted; Powe

Form of Purchase and Sale Agreement between PNM Energy Transition Bond Company I, LLC and Public Service Company of New Mexico, as Seller*

Exhibit 10.2 ENERGY TRANSITION PROPERTY PURCHASE AND SALE AGREEMENT by and between PNM ENERGY TRANSITION BOND COMPANY I, LLC, Issuer and PUBLIC SERVICE COMPANY OF NEW MEXICO, Seller Acknowledged and Accepted by U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Indenture Trustee Dated as of [], 2023 TABLE OF CONTENTS ARTICLE I. DEFINITIONS AND RULES OF CONSTRUCTION 1 SECTION 1.01. Definitions and R

As filed with the Securities and Exchange Commission on October 13, 2023

TABLE OF CONTENTS As filed with the Securities and Exchange Commission on October 13, 2023 REGISTRATION NOS.

[____________], 2023

Exhibit 99.2 Troutman Pepper Hamilton Sanders LLP 600 Peachtree Street NE, Suite 3000 Atlanta, GA 30308-2216 troutman.com [], 2023 To: The persons listed on Exhibit A attached hereto Re: Opinion Concerning Federal Constitutional Issues Pertaining to Energy Transition Bonds, Series A of PNM Energy Transition Bond Company I, LLC Ladies and Gentlemen, We have acted as special counsel for Public Servi

Form of Opinion of Miller Stratvert P.A. with respect to New Mexico constitutional matters*

Exhibit 99.3 [MILLER STRATVERT P.A. LETTERHEAD] [], 2023 To: The persons listed on Exhibit A attached hereto Re: Opinion Concerning New Mexico Constitutional Issues Pertaining to Energy Transition Bonds, Series A of PNM Energy Transition Bond Company I, LLC Ladies and Gentlemen, We have acted as New Mexico counsel for Public Service Company of New Mexico (“PNM”), a New Mexico corporation, and PNM

Regulation FD Disclosure, Financial Statements and Exhibits

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) September 21, 2023 (September 21, 2023) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identifi

PNM unanimous settlement agreement for San Juan credits approved

Exhibit 99.1 For Immediate Release September 21, 2023 PNM unanimous settlement agreement for San Juan credits approved (ALBUQUERQUE, N.M.) – Today the New Mexico Public Regulation Commission (NMPRC) approved the unanimous settlement agreement reached by Public Service Company of New Mexico (PNM), a wholly-owned subsidiary of PNM Resources (NYSE: PNM), and parties in the case resolving all remainin

List of Subsidiaries

Exhibit 21.1 Subsidiaries of Public Service Company of New Mexico Name of Subsidiary Jurisdiction of Formation PNM Energy Transition Bond Company I, LLC Delaware The remaining subsidiaries of Public Service Company of New Mexico considered in the aggregate as a single subsidiary, do not constitute a "significant subsidiary" (as defined in Rule 1-02(w) of Regulation S-X). PNM Energy Transition Bond

Certificate of Formation of PNM Energy Transition Bond Company I, LLC*

Exhibit 3.1 CERTIFICATE OF FORMATION OF PNM ENERGY TRANSITION BOND COMPANY I, LLC This Certificate of Formation of PNM Energy Transition Bond Company I, LLC (the “LLC”), dated as of August 25, 2023, is being duly executed and filed by Henry E. Monroy, as an authorized person, to form a limited liability company under the Delaware Limited Liability Company Act (6 Del. C. §18-101, et seq.). FIRST. T

Power of Attorney (PNM Energy Transition Bond Company I, LLC) (included on signature page to this Registration Statement)

TABLE OF CONTENTS As filed with the Securities and Exchange Commission on September 8, 2023 REGISTRATION NOS.

Filing Fee Table*

Exhibit 107 Calculation of Filing Fee Tables Form SF-1 (Form Type) PUBLIC SERVICE COMPANY OF NEW MEXICO PNM ENERGY TRANSITION BOND COMPANY I, LLC (Exact name of registrant, sponsor and depositor as specified in its charter) (Exact name of registrant and issuing entity as specified in its charter) Table 1: Newly Registered Securities Security Type Security Class Title Fee Calculation Rule Amount Registered Proposed Maximum Offering Price Per Unit Maximum Aggregate Offering Price(1) Fee Rate Amount of Registration Fee(1) Fees to be Paid Debt Senior Secured Energy Transition Bonds, Series A Rule 457(o) $345,000,000 100% $345,000,000 0.

Form T-1 Statement of Eligibility under the Trust Indenture Act of 1939 of U.S. Bank Trust Company, National Association

Exhibit 25.1 securities and exchange commission Washington, D.C. 20549 FORM T-1 Statement of Eligibility Under The Trust Indenture Act of 1939 of a Corporation Designated to Act as Trustee Check if an Application to Determine Eligibility of a Trustee Pursuant to Section 305(b)(2) ¨ U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION (Exact name of Trustee as specified in its charter) 91-1821036 I.R.S. E

Consent of Manager Nominee

Exhibit 99.4 Consent of Manager Nominee Public Service Company of New Mexico and PNM Energy Transition Bond Company I, LLC are filing a Registration Statement on Form SF-1 (the “Registration Statement”) with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “Securities Act”), in connection with the public offering of energy transition bonds. In connection the

Financing Order

Exhibit 99.1 BEFORE THE NEW MEXICO PUBLIC REGULATION COMMISSION IN THE MATTER OF PUBLIC SERVICE COMPANY OF ) ) NEW MEXICO’S ABANDONMENT OF SAN JUAN           ) Case No. 19-00018-UT GENERATING STATION UNITS 1 AND 4                             ) FINAL ORDER ON REQUEST FOR ISSUANCE OF A FINANCING ORDER THIS MATTER comes before the New Mexico Public Regulation Commission (“Commission” or “NMPRC”) on t

Regulation FD Disclosure, Financial Statements and Exhibits, Other Events

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) August 18, 2023 (August 18, 2023) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification

PNM and parties reach unanimous settlement agreement for customer rate credits to resolve remaining steps of San Juan coal plant retirement Rate credits add to existing benefits of coal plant retirement under Energy Transition Act for customers, envi

Exhibit 99.1 For Immediate Release August 18, 2023 PNM and parties reach unanimous settlement agreement for customer rate credits to resolve remaining steps of San Juan coal plant retirement Rate credits add to existing benefits of coal plant retirement under Energy Transition Act for customers, environment, employees and impacted communities (ALBUQUERQUE, N.M.) – Public Service Company of New Mex

FIRST AMENDMENT TO AMENDED AND RESTATED TERM LOAN AGREEMENT

Exhibit 10.1 FIRST AMENDMENT TO AMENDED AND RESTATED TERM LOAN AGREEMENT THIS FIRST AMENDMENT TO AMENDED AND RESTATED TERM LOAN AGREEMENT (this “Amendment”) is effective as of July 25, 2023, among PNM RESOURCES, INC., a New Mexico corporation (the “Borrower”), the Lenders party hereto and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent for the Lenders (in such capacity, the “Admini

PNM Resources Reports Second Quarter 2023 Results 2023 Ongoing Earnings Guidance Affirmed

Exhibit 99.1 ALBUQUERQUE, N.M. August 4, 2023 PNM Resources Reports Second Quarter 2023 Results 2023 Ongoing Earnings Guidance Affirmed •2023 second quarter GAAP earnings of $0.53 per diluted share •2023 second quarter ongoing earnings of $0.55 per diluted share •Affirmed ongoing earnings guidance range of $2.65 - $2.75 for 2023 PNM Resources (In millions, except EPS) Q2 2023 Q2 2022 YTD 2023 YTD

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) August 4, 2023 (August 4, 2023) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification N

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Name of Registrant, State of

Public Service Company of New Mexico 414 Silver Ave. SW Albuquerque, New Mexico 87102-3289

Public Service Company of New Mexico 414 Silver Ave. SW Albuquerque, New Mexico 87102-3289 May 23, 2023 VIA EDGAR United States Securities and Exchange Commission Division of Corporation Finance 100 F Street, NE Washington, D.C. 20549 Re: Public Service Company of New Mexico Registration Statement on Form S-3 Filed May 16, 2023 File No. 333-271969 (the “Registration Statement”) Ladies and Gentleme

Public Service Company of New Mexico 414 Silver Ave. SW Albuquerque, New Mexico 87102-3289

Public Service Company of New Mexico 414 Silver Ave. SW Albuquerque, New Mexico 87102-3289 May 22, 2023 VIA EDGAR United States Securities and Exchange Commission Division of Corporation Finance 100 F Street, NE Washington, D.C. 20549 Re: Public Service Company of New Mexico Registration Statement on Form S-3 Filed May 16, 2023 File No. 333-271969 (the “Registration Statement”) Ladies and Gentleme

Public Service Company of New Mexico 414 Silver Ave. SW Albuquerque, New Mexico 87102-3289

Public Service Company of New Mexico 414 Silver Ave. SW Albuquerque, New Mexico 87102-3289 May 22, 2023 VIA EDGAR United States Securities and Exchange Commission Division of Corporation Finance 100 F Street, NE Washington, D.C. 20549 Re: Public Service Company of New Mexico Registration Statement on Form S-3 Filed May 16, 2023 File No. 333-271969 (the “Registration Statement”) Ladies and Gentleme

Filing Fee Table

Exhibit 107 Calculation of Filing Fee Tables Form S-3 (Form Type) PUBLIC SERVICE COMPANY OF NEW MEXICO (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities Security Type Security Class Title Fee Calculation or Carry Forward Rule Amount Registered Proposed Maximum Offering Price Per Unit Maximum Aggregate Offering Price Fee Rate Amount of Reg

As filed with the Securities and Exchange Commission on May 16, 2023

Table of Contents As filed with the Securities and Exchange Commission on May 16, 2023 Registration No.

Form T-1 Statement of Eligibility under the Trust Indenture Act of 1939 of U.S. Bank Trust Company, National Association (ultimate successor to The Chase Manhattan Bank), as Trustee for the Senior Unsecured Notes.

Exhibit 25.1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE Check if an Application to Determine Eligibility of a Trustee Pursuant to Section 305(b)(2) U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION (Exact name of Trustee as specified in its charter) 91-1821036 I.R.S. Emp

Regulation FD Disclosure, Financial Statements and Exhibits, Other Events

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) May 15, 2023 (May 15, 2023) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No. P

New Mexico Supreme Court denies motion to dismiss and remand merger appeal, schedules oral argument

Exhibit 99.1 For Immediate Release May 15, 2023 New Mexico Supreme Court denies motion to dismiss and remand merger appeal, schedules oral argument (ALBUQUERQUE, N.M.) – The New Mexico Supreme Court (Court) issued a decision today to deny a joint motion filed by PNM Resources (NYSE: PNM), AVANGRID and the New Mexico Public Regulation Commission (NMPRC) to dismiss the appeal of its merger denial an

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Name of Registrant, State of

2023 Long-Term Incentive Plan dated April 19, 2023

Exhibit 10.2 PNM RESOURCES, INC. 2023 LONG-TERM INCENTIVE PLAN Introduction •The 2023 Long-Term Incentive Plan (the “Plan”) provides eligible Officers of PNM Resources, Inc. (the “Company” or “PNMR”) with the opportunity to earn Performance Share Awards (70% of the total opportunity) and time-vested Restricted Stock Rights Awards (30% of the total opportunity). For purposes of the Plan, “Officer”

PNM Resources Reports First Quarter 2023 Results 2023 Ongoing Earnings Guidance Affirmed

Exhibit 99.1 ALBUQUERQUE, N.M. May 5, 2023 PNM Resources Reports First Quarter 2023 Results 2023 Ongoing Earnings Guidance Affirmed •2023 first quarter GAAP earnings of $0.64 per diluted share •2023 first quarter ongoing earnings of $0.55 per diluted share •Affirmed ongoing earnings guidance range of $2.65 - $2.75 for 2023 PNM Resources (In millions, except EPS) Q1 2023 Q1 2022 GAAP net earnings a

2023 Officer Annual Incentive Plan dated April 19, 2023

Exhibit 10.1 PNM RESOURCES, INC. 2023 OFFICER ANNUAL INCENTIVE PLAN Introduction PNM Resources, Inc. (the “Company” or “PNMR”) has adopted this 2023 Officer Annual Incentive Plan (the “Plan”) for the purpose of providing annual cash-based incentive awards (each an “Award”) to eligible Officers (as defined below). Capitalized terms that are used, but not defined, in this Plan document shall have th

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) May 5, 2023 (May 5, 2023) Name of

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) May 5, 2023 (May 5, 2023) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No. PNM

Eighteenth Supplemental Indenture, dated as of April 28, 2023, between Texas-New Mexico Power Company and U.S. Bank Trust Company, National Association, as Trustee.

EX 4.1 TEXAS-NEW MEXICO POWER COMPANY To U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee EIGHTEENTH SUPPLEMENTAL INDENTURE dated as of April 28, 2023 Supplemental to the First Mortgage Indenture dated as of March 23, 2009 (file no.: 09-0007931211) Establishing a series of Securities designated 5.01% FIRST MORTGAGE BONDS, DUE APRIL 28, 2033, SERIES 2023A THIS INSTRUMENT GRANTS A SECURITY

Bond Purchase Agreement, dated April 28, 2023, between Texas-New Mexico Power Company and the purchasers named therein.

EX 10.2 TEXAS-NEW MEXICO POWER COMPANY $185,000,000 $130,000,000 5.01% First Mortgage Bonds, due April 28, 2033, Series 2023A $55,000,000 5.47% First Mortgage Bonds, due July 28, 2053, Series 2023B BOND PURCHASE AGREEMENT Dated April 28, 2023 Bond Purchase Agreement 2023 - TNMP 4869-7492-9495 v12.docx 4408019 Table of Contents SECTION HEADING PAGE SECTION 1. AUTHORIZATION OF BONDS 1 SECTION 2. SAL

Note Purchase Agreement, dated April 28, 2023, between Public Service Company of New Mexico and the purchasers named therein.

EX 10.1 PUBLIC SERVICE COMPANY OF NEW MEXICO $200,000,000 $150,000,000 5.51% Senior Unsecured Notes, Series A, due April 28, 2035 $50,000,000 5.92% Senior Unsecured Notes, Series B, due April 28, 2053 NOTE PURCHASE AGREEMENT Dated April 28, 2023 TABLE OF CONTENTS SECTION HEADING PAGE SECTION 1. AUTHORIZATION OF NOTES 1 SECTION 2. SALE AND PURCHASE OF NOTES 1 SECTION 3. CLOSING 2 SECTION 4. CONDITI

Entry into a Material Definitive Agreement, Financial Statements and Exhibits, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) April 28, 2023 (April 28, 2023) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification N

Employee Retention Agreement, executed November 11, 2020 for Elisabeth A. Eden

Avangrid Retention (3 year) 11/11/2020 EMPLOYEE RETENTION AGREEMENT THIS AGREEMENT is entered into by and between PNMR Services Company (the “Company”) and Elisabeth Eden (the “Employee”) (each, a “Party” and collectively, the “Parties”) as of December 1, 2020 (the “Effective Date”).

Eleventh Amendment to Credit Agreement, dated as of January 26, 2023, among PNMR, the lenders party thereto and Wells Fargo Bank, National Association, as administrative agent

EXECUTION VERSION ELEVENTH AMENDMENT TO CREDIT AGREEMENT THIS ELEVENTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is effective as of January 26, 2023, among PNM RESOURCES, INC.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Name of Registrant, State of Inco

First Amendment to Employee Retention Agreements, executed January 20, 2022 for Elisabeth A. Eden

FIRST AMENDMENT TO EMPLOYEE RETENTION AGREEMENT PNMR Services Company (the “Company”) and Elisabeth Eden (the “Employee”) entered into an Employee Retention Agreement (the “Agreement”) effective December 1, 2020 in connection with the transaction contemplated by the Agreement and Plan of Merger, dated as of October 20, 2020, by and among Avangrid, Inc.

Sixth Amendment to Credit Agreement, dated as of January 26, 2023, among PNM, the lenders party thereto and Wells Fargo Bank National Association, as administrative agent

EXECUTION VERSION SIXTH AMENDMENT TO CREDIT AGREEMENT THIS SIXTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is effective as of January 26, 2023, among PUBLIC SERVICE COMPANY OF NEW MEXICO, a New Mexico corporation (the “Borrower”), the Lenders party hereto and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent for the Lenders (in such capacity, the “Administrative Agent”).

Certain subsidiaries of PNMR

EXHIBIT 21 Subsidiaries of PNM Resources, Inc. As of December 31, 2022, PNM Resources, Inc. directly or indirectly owns all of the voting securities of the following subsidiaries: Public Service Company of New Mexico, a New Mexico corporation that does business under the names “Public Service Company of New Mexico” and “PNM”. Texas-New Mexico Power Company, a Texas corporation that does business u

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) February 24, 2023 (February 24, 20

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) February 24, 2023 (February 24, 2023) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identifica

PNM Resources Reports 2022 Results 2023 Ongoing Earnings Guidance Narrowed

Exhibit 99.1 ALBUQUERQUE, N.M. February 24, 2023 PNM Resources Reports 2022 Results 2023 Ongoing Earnings Guidance Narrowed •2022 GAAP earnings of $1.97 per diluted share •2022 ongoing earnings of $2.69 per diluted share •2023 ongoing earnings guidance range narrowed to $2.65 - $2.75 PNM Resources (In millions, except EPS) 2022 2021 GAAP net earnings attributable to PNM Resources $169.5 $195.8 GAA

PNM Resources Reports Third Quarter 2022 Results 2022 Ongoing Earnings Guidance Raised

EX-99.1 2 ex99111042022earningsrelea.htm EX-99.1 Exhibit 99.1 ALBUQUERQUE, N.M. November 4, 2022 PNM Resources Reports Third Quarter 2022 Results 2022 Ongoing Earnings Guidance Raised •2022 third quarter GAAP earnings of $1.42 per diluted share •2022 third quarter ongoing earnings of $1.46 per diluted share •2022 ongoing earnings guidance range raised to $2.63 - $2.68 •2023 ongoing earnings guidan

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ? QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ? TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Name of Registrant, Stat

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) November 4, 2022 (November 4, 2022) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identificati

November 1, 2022

CORRESP 1 filename1.htm November 1, 2022 Via EDGAR Mr. Mark Wojciechowski Staff Accountant Division of Corporation Finance Office of Energy & Transportation United States Securities and Exchange Commission 100 F Street, N.E. Washington, D.C. 20549 Re: PNM Resources, Inc. Form 10-K for the Fiscal Year Ended December 31, 2021 Filed March 1, 2022 Response dated October 6, 2022 File No. 001-32462 Dear

October 6, 2022

October 6, 2022 Via EDGAR Mr. Mark Wojciechowski Staff Accountant Division of Corporation Finance Office of Energy & Transportation United States Securities and Exchange Commission 100 F Street, N.E. Washington, D.C. 20549 Re: PNM Resources, Inc. Form 10-K for the Fiscal Year Ended December 31, 2021 Filed March 1, 2022 File No. 001-32462 Dear Mr. Wojciechowski: Please allow this letter to serve as

Regulation FD Disclosure, Other Events

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) September 6, 2022 (September 2, 2022) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identifica

Term Loan Agreement, dated as of August 5, 2022, among PNM, the lender parties thereto and Royal Bank of Canada, as administrative agent

Exhibit 10.1 TERM LOAN AGREEMENT among PUBLIC SERVICE COMPANY OF NEW MEXICO, as Borrower, THE LENDERS IDENTIFIED HEREIN, ROYAL BANK OF CANADA, as Administrative Agent and COBANK ACB, as Documentation Agent DATED AS OF AUGUST 5, 2022 RBC CAPITAL MARKETS, as Sole Lead Arranger and Bookrunner TABLE OF CONTENTS SECTION 1 DEFINITIONS AND ACCOUNTING TERMS 5 1.1 Definitions. 5 1.2 Computation of Time Per

Entry into a Material Definitive Agreement, Financial Statements and Exhibits, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) August 5, 2022 (August 5, 2022) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification N

First Amendment dated July 7, 2022 to PNMR 2022 Officer Annual Incentive Plan

FIRST AMENDMENT TO THE PNM RESOURCES, INC. 2022 OFFICER ANNUAL INCENTIVE PLAN The Company previously adopted the 2022 Officer Annual Incentive Plan (the “Plan”). By this instrument, the Company desires to amend the Plan as set forth below. 1.This First Amendment shall be effective as of the date executed below. 2.The first paragraph of the Performance Award Pool Section of the Plan is hereby amend

Third Amendment dated July 7, 2022 to PNMR 2020 Long-Term Incentive Plan

THIRD AMENDMENT TO THE PNM RESOURCES, INC. 2020 LONG-TERM INCENTIVE PLAN The 2020 Long-Term Incentive Plan (the ?Plan?) was adopted pursuant to the PNM Resources, Inc. 2014 Performance Equity Plan (the ?PEP?). The Plan has been amended on two previous occasions. By this instrument, the Company desires to amend the Plan as set forth below. 1.This Third Amendment shall be effective as of the date ex

PNM Resources Reports Second Quarter 2022 Results 2022 and 2023 Ongoing Earnings Guidance Affirmed

EX-99.1 2 ex99108042022earningsrelea.htm EX-99.1 Exhibit 99.1 ALBUQUERQUE, N.M. August 4, 2022 PNM Resources Reports Second Quarter 2022 Results 2022 and 2023 Ongoing Earnings Guidance Affirmed •2022 Second Quarter GAAP earnings of $0.18 per diluted share, including unrealized losses on investment securities •2022 Second Quarter ongoing earnings of $0.57 per diluted share •Affirmed ongoing earning

Second Amendment dated July 7, 2022 to PNMR 2021 Long-Term Incentive Plan

EX-10.3 4 pnm6302022ex103.htm EX-10.3 SECOND AMENDMENT TO THE PNM RESOURCES, INC. 2021 LONG-TERM INCENTIVE PLAN The 2021 Long-Term Incentive Plan (the “Plan”) was adopted pursuant to the PNM Resources, Inc. 2014 Performance Equity Plan (the “PEP”). The Plan has been amended on one previous occasion. By this instrument, the Company desires to amend the Plan as set forth below. 1.This Second Amendme

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) August 4, 2022 (August 4, 2022) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification N

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Name of Registrant, State of

First Amendment dated July 7, 2022 to PNMR 2022 Long-Term Incentive Plan

FIRST AMENDMENT TO THE PNM RESOURCES, INC. 2022 LONG-TERM INCENTIVE PLAN The 2022 Long-Term Incentive Plan (the ?Plan?) was adopted pursuant to the PNM Resources, Inc. 2014 Performance Equity Plan (the ?PEP?). By this instrument, the Company desires to amend the Plan as set forth below. 1.This First Amendment shall be effective as of the date executed below. 2.Attachment B to the Plan is hereby am

Bylaws of PNM, with all amendments to and including July 1, 2022 (incorporated by reference to Exhibit 3.5 to PNM’s Report on Form 8-K filed July 1, 2022)

Exhibit 3.5 BYLAWS PUBLIC SERVICE COMPANY OF NEW MEXICO As Amended and Restated July 1, 2022 BYLAWS OF PUBLIC SERVICE COMPANY OF NEW MEXICO ARTICLE I MEETINGS OF SHAREHOLDERS SECTION 1. MEETINGS The annual meeting of shareholders shall be held at the time and place set by resolution of the Board of Directors for the election of directors and the transaction of such other business as may properly c

Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year, Financial Statements and Exhibits

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) July 1, 2022 (July 1, 2022) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No. P

Regulation FD Disclosure, Financial Statements and Exhibits, Other Events

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) June 29, 2022 (June 29, 2022) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No.

PNM Ordered to Issue Rate Credits in 2022 and 2023 for San Juan Retirement, Contrary to Energy Transition Act, and Files Emergency Motion for Stay

EX-99.1 2 pnm06292022ex991.htm EX-99.1 For Immediate Release June 29, 2022 PNM Ordered to Issue Rate Credits in 2022 and 2023 for San Juan Retirement, Contrary to Energy Transition Act, and Files Emergency Motion for Stay (ALBUQUERQUE, N.M.) – Today the New Mexico Public Regulation Commission (NMPRC) issued an Order requiring Public Service Company of New Mexico (PNM), wholly-owned subsidiary of P

Fifth Amendment to and Restatement of Credit Agreement, dated as of May 20, 2022, among Public Service Company of New Mexico, the lenders party thereto and Wells Fargo Bank, National Association, as Administrative Agent

Exhibit 10.3 Published CUSIP Number: 74454EAC9 FIFTH AMENDMENT TO AND RESTATEMENT OF CREDIT AGREEMENT among PUBLIC SERVICE COMPANY OF NEW MEXICO, as Borrower, THE LENDERS IDENTIFIED HEREIN, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent MUFG UNION BANK, N.A., as Syndication Agent AND CITIBANK, N.A. and BANK OF AMERICA, N.A., as Co-Documentation Agents DATED AS OF MAY 20, 2022 WELL

Amended and Restated Credit Agreement, dated as of May 20, 2022, among PNM, the lenders party thereto, U.S. Bank National Association, as administrative agent, and BOKF, N.A. d/b/a Bank of Albuquerque, as syndication agent

EX-10.4 5 pnm05242022ex104.htm EX-10.4 EXECUTION COPY Deal CUSIP 74454EAG0 Revolving Loan CUSIP 74454EAH8 AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF MAY 20, 2022 AMONG PUBLIC SERVICE COMPANY OF NEW MEXICO, AS BORROWER, THE LENDERS, U.S. BANK NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT, AND BOKF, NA dba BANK OF ALBUQUERQUE, AS SYNDICATION AGENT U.S. BANK NATIONAL ASSOCIATION AND BOKF, NA d

Amended and Restated Term Loan Agreement, dated as of May 20, 2022, among PNM Resources, Inc., the lenders party thereto and Wells Fargo Bank, National Association, as Administrative Agent

Exhibit 10.1 $1,000,000,000 AMENDED AND RESTATED TERM LOAN AGREEMENT among PNM RESOURCES, INC., as Borrower, THE LENDERS IDENTIFIED HEREIN, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent DATED AS OF MAY 20, 2022 WELLS FARGO SECURITIES, LLC, as Sole Lead Arranger and Bookrunner TABLE OF CONTENTS SECTION 1 DEFINITIONS AND ACCOUNTING TERMS 5 1.1 Definitions. 5 1.2 Computation of Time

Entry into a Material Definitive Agreement, Financial Statements and Exhibits, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) May 24, 2022 (May 20, 2022) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No. P

Tenth Amendment to and Restatement of Credit Agreement, dated as of May 20, 2022, among PNMR, the lenders party thereto and Wells Fargo Bank, National Association, as administrative agent

Exhibit 10.2 $300,000,000 TENTH AMENDMENT TO AND RESTATEMENT OF CREDIT AGREEMENT among PNM RESOURCES, INC., as Borrower, THE LENDERS IDENTIFIED HEREIN, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent MUFG UNION BANK, N.A., as Syndication Agent AND CITIBANK, N.A. and BANK OF AMERICA, N.A., as Co-Documentation Agents DATED AS OF MAY 20, 2022 WELLS FARGO SECURITIES, LLC, MUFG UNION BA

PNMR 2020 Long-Term Incentive Plan for Patrick Apodaca, effective March 1, 2022

Exhibit 10.7 March 1, 2022 Mr. Patrick Apodaca Senior Vice President and General Counsel PNM Resources, Inc. Corporate Headquarters Albuquerque, NM 87158-1275 Re: Amendment to the 2020 Long-Term Incentive Plan Dear Patrick: On March 30, 2020, PNM Resources, Inc. (the “Company”) adopted the 2020 Long-Term Incentive Plan, which was amended for all employees on two occasions and by letter agreement d

Bond Purchase Agreement dated April 27, 2022 between TNMP and the purchasers named therein ($65,000,000 of 4.13% First Mortgage Bonds due 2052, Series 2022A, $95,000,000 of 3.81% First Mortgage Bonds due 2032, Series 2022C)

Exhibit 10.9 Execution Version TEXAS-NEW MEXICO POWER COMPANY $160,000,000 $65,000,000 4.13% First Mortgage Bonds, due May 12, 2052, Series 2022A $95,000,000 3.81% First Mortgage Bonds, due July 28, 2032, Series 2022C BOND PURCHASE AGREEMENT Dated April 27, 2022 Bond Purchase Agreement - TNMP 4868-1796-6102 v17.docx 4381000 TABLE OF CONTENTS SECTION HEADING PAGE SECTION 1. AUTHORIZATION OF BONDS 1

Second Letter Amendment to PNMR 2020 Long-Term Incentive Plan for Charles Eldred, effective March 1, 2022

Exhibit 10.5 March 1, 2022 Mr. Charles Eldred Executive Vice President, Corporate Development and Finance PNM Resources, Inc. Corporate Headquarters Albuquerque, NM 87158-1275 Re: Amendment to the 2020 Long-Term Incentive Plan Dear Chuck: On March 30, 2020, PNM Resources, Inc. (the “Company”) adopted the 2020 Long-Term Incentive Plan, which was amended for all employees on two occasions and by let

Employee Transition and Separation Agreement between PNMR and Charles Eldred, effective March 1, 2022

EX-10.8 9 pnm3312022ex108.htm EX-10.8 Exhibit 10.8 TRANSITION AND SEPARATION AGREEMENT THIS TRANSITION AND SEPARATION AGREEMENT (this “Agreement”) dated as of March 1, 2022 (“Effective Date”) is entered into between Charles N. Eldred (“Executive”) and PNM Resources, Inc. (“Company”). Recitals: A. Executive is currently employed as the Company’s Executive Vice President, Corporate Development and F

First Amendment dated April 19, 2022 to PNMR 2021 Long-Term Incentive Plan

Exhibit 10.4 FIRST AMENDMENT TO THE PNM RESOURCES, INC. 2021 LONG-TERM INCENTIVE PLAN The 2021 Long-Term Incentive Plan (the “Plan”) was adopted pursuant to the PNM Resources, Inc. 2014 Performance Equity Plan (the “PEP”). By this instrument, the Company desires to amend the Plan as set forth below. 1.The fourth, fifth, and sixth bullet points (out of 13 bullet points in the Section) under the “Ot

Second Letter Amendment to PNMR 2020 Long-Term Incentive Plan for Patricia Collawn, effective March 1, 2022

Exhibit 10.6 March 1, 2022 Ms. Patricia K. Collawn President and Chief Executive Officer PNM Resources, Inc. Corporate Headquarters Albuquerque, NM 87158-1275 Re: Amendment to the 2020 Long-Term Incentive Plan Dear Pat: On March 30, 2020, PNM Resources, Inc. (the “Company”) adopted the 2020 Long-Term Incentive Plan, which was amended for all employees on two occasions and by letter agreement dated

2022 Director Compensation Summary

EX-10.1 2 pnm3312022ex101.htm EX-10.1 Exhibit 10.1 2022 Director Compensation Summary Non-employee directors of PNM Resources, Inc. (the “Company”) receive their annual retainer in the form of cash and stock-based compensation as determined by the Company's Board of Directors (the “Board”). At the March 1, 2022 Board meeting, the Board approved the following changes to director compensation for 20

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) April 28, 2022 (April 28, 2022) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification N

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Name of Registrant, State of

PNMR 2022 Officer Annual Incentive Plan dated April 19, 2022

Exhibit 10.2 PNM RESOURCES, INC. 2022 OFFICER ANNUAL INCENTIVE PLAN Introduction PNM Resources, Inc. (the “Company” or “PNMR”) has adopted this 2022 Officer Annual Incentive Plan (the “Plan”) for the purpose of providing annual cash-based incentive awards (each an “Award”) to eligible Officers (as defined below). Capitalized terms that are used, but not defined, in this Plan document shall have th

PNM Resources Reports First Quarter 2022 Results 2022 and 2023 Ongoing Earnings Guidance Affirmed

Exhibit 99.1 ALBUQUERQUE, N.M. April 28, 2022 PNM Resources Reports First Quarter 2022 Results 2022 and 2023 Ongoing Earnings Guidance Affirmed •2022 First Quarter GAAP earnings of $0.19 per diluted share •2022 First Quarter ongoing earnings of $0.50 per diluted share •Affirmed ongoing earnings guidance ranges of $2.50 - $2.60 for 2022 and $2.60 - $2.75 for 2023 PNM Resources (In millions, except

PNMR 2022 Long-Term Incentive Plan dated April 19, 2022

EX-10.3 4 pnm3312022ex103.htm EX-10.3 Exhibit 10.3 PNM RESOURCES, INC. 2022 LONG-TERM INCENTIVE PLAN Introduction •The 2022 Long-Term Incentive Plan (the “Plan”) provides eligible Officers of PNM Resources, Inc. (the “Company” or “PNMR”) with the opportunity to earn Performance Share Awards (70% of the total opportunity) and time-vested Restricted Stock Rights Awards (30% of the total opportunity)

PNMR Non-Union Severance Pay Plan effective December 1, 2021

Exhibit 10.53 PNM Resources, Inc. Non-Union Severance Pay Plan (Effective December 1, 2021) TABLE OF CONTENTS Page ARTICLE I PURPOSE 1 1.1 General 1 ARTICLE II DEFINITIONS 1 2.1 Definitions 1 2.2 Special Purpose Definitions 5 2.3 Construction 5 ARTICLE III ELIGIBILITY 5 3.1 Participation 5 3.2 Benefits Due to Impaction Only 6 3.3 Eligibility for Severance Benefits 6 3.4 Eligibility for Officer Gro

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Name of Registrant, State of Inco

Certain subsidiaries of PNMR

EX-21 4 pnmr12312021ex21.htm EX-21 EXHIBIT 21 Subsidiaries of PNM Resources, Inc. As of December 31, 2019, PNM Resources, Inc. directly or indirectly owns all of the voting securities of the following subsidiaries: Public Service Company of New Mexico, a New Mexico corporation that does business under the names “Public Service Company of New Mexico” and “PNM”. Texas-New Mexico Power Company, a Tex

PNMR Officer Financial Counseling Program offered by AYCO, a Goldman Sachs Company, effective January 9, 2020

Exhibit 10.61 Summary of Officer Financial Counseling Program All officers of PNM Resources are eligible to participate in the financial counseling program offered by AYCO. Services provided by AYCO include: assisting officers with developing comprehensive financial plans, educating officers on compensation and benefit programs, providing cash-flow strategies, tax planning and preparation, retirem

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) February 3, 2022 (February 3, 2022) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identificati

PNM Resources Announces Preliminary 2021 Results and Earnings Guidance for 2022 and 2023, Increases Common Dividend Conference call set for 11 a.m. Eastern today

EX-99.1 2 exhibit99102032022earnings.htm EX-99.1 Exhibit 99.1 ALBUQUERQUE, N.M. February 3, 2022 PNM Resources Announces Preliminary 2021 Results and Earnings Guidance for 2022 and 2023, Increases Common Dividend Conference call set for 11 a.m. Eastern today •2021 preliminary GAAP earnings of $2.27 and ongoing earnings of $2.45 per diluted share •Ongoing earnings guidance ranges of $2.50 - $2.60 f

Other Events

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) December 10, 2021 (December 10, 2021) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identifica

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) December 3, 2021 (December 2, 2021) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identificati

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) October 28, 2021 (October 28, 2021) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identificati

Third Amendment to Third Amended and Restated Credit Agreement, dated as of September 15, 2021, among TNMP identified therein and KeyBank, National Association, as administrative agent (TNMP Revolving Credit Facility)

Exhibit 10.5 EXECUTION VERSION THIRD AMENDMENT TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT THIS THIRD AMENDMENT TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is entered into as of September 15, 2021, among TEXAS-NEW MEXICO POWER COMPANY, a Texas corporation (the “Borrower”), the Lenders party hereto and KEYBANK, NATIONAL ASSOCIATION, as Administrative Agent for the Lenders (

Ninth Amendment to Credit Agreement, dated as of September 15, 2021, among PNMR, the lenders party thereto, and Wells Fargo Bank, National Association, as administrative agent (PNMR Revolving Credit Facility)

Exhibit 10.1 EXECUTION VERSION NINTH AMENDMENT TO CREDIT AGREEMENT THIS NINTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is effective as of September 15, 2021, among PNM RESOURCES, INC., a New Mexico corporation (the “Borrower”), the Lenders party hereto and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent for the Lenders (in such capacity, the “Administrative Agent”). Capital

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identificatio

PNM Resources Reports Third Quarter Results Continued Expectation for Merger to Close in 2021

Exhibit 99.1 ALBUQUERQUE, N.M. October 28, 2021 PNM Resources Reports Third Quarter Results Continued Expectation for Merger to Close in 2021 •2021 third quarter GAAP earnings of $1.32 per diluted share •2021 third quarter ongoing earnings of $1.37 per diluted share reflects increased earnings compared to the third quarter of 2020, offset by the dilutive impact of additional shares PNM Resources (

Entry into a Material Definitive Agreement, Financial Statements and Exhibits, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) September 23, 2021 (September 23, 2021) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identifi

Note Purchase Agreement, dated September 23, 2021, between PNM and the purchasers named therein (PNM September 2021 SUNs, Series A-B)

Exhibit 10.1 Execution Version PUBLIC SERVICE COMPANY OF NEW MEXICO $150,000,000 $50,000,000 2.29% Senior Unsecured Notes, Series A, due December 30, 2031 $100,000,000 2.97% Senior Unsecured Notes, Series B, due December 30, 2041 NOTE PURCHASE AGREEMENT Dated September 23, 2021 Table of Contents Section Heading Page SECTION 1. AUTHORIZATION OF NOTES 1 SECTION 2. SALE AND PURCHASE OF NOTES 1 SECTIO

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ? QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No.

PNM Resources Reports Second Quarter Results 2021 Ongoing Earnings Guidance Affirmed

EX-99.1 2 ex99107302021earningsrelea.htm EX-99.1 Exhibit 99.1 ALBUQUERQUE, N.M. July 30, 2021 PNM Resources Reports Second Quarter Results 2021 Ongoing Earnings Guidance Affirmed •2021 second quarter GAAP earnings of $0.62 per diluted share •2021 second quarter ongoing earnings of $0.55 per diluted share reflects increased earnings compared to the second quarter of 2020, offset by the dilutive imp

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) July 30, 2021 (July 30, 2021) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No.

d July 14, 2021, between Texas-New Mexico Power Company and the purchasers named therein.

EX-10.2 3 a07142021pnmex102.htm EX-10.2 Exhibit 10.2 Execution Version TEXAS-NEW MEXICO POWER COMPANY $65,000,000 2.44% First Mortgage Bonds, due August 15, 2035, Series 2021A BOND PURCHASE AGREEMENT Dated July 14, 2021 Table of Contents SECTION HEADING PAGE SECTION 1. AUTHORIZATION OF BONDS 1 SECTION 2. SALE AND PURCHASE OF BONDS 2 SECTION 3. CLOSING 2 SECTION 4. CONDITIONS TO CLOSING 2 Section 4

Note Purchase Agreement, dated July 14, 2021, between Public Service Company of New Mexico and the purchasers named therein.

EX-10.1 2 a07142021pnmex101.htm EX-10.1 Exhibit 10.1 Execution Version Public Service Company of New Mexico $160,000,000 $80,000,000 2.59% Senior Unsecured Notes, Series A, due July 15, 2033 $80,000,000 3.14% Senior Unsecured Notes, Series B, due July 15, 2041 Note Purchase Agreement Dated July 14, 2021 Table of Contents SECTION HEADING PAGE SECTION 1. AUTHORIZATION OF NOTES 1 SECTION 2. SALE AND

Entry into a Material Definitive Agreement, Financial Statements and Exhibits, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) July 14, 2021 (July 14, 2021) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No.

TERM LOAN AGREEMENT PUBLIC SERVICE COMPANY OF NEW MEXICO, as Borrower, BANK OF AMERICA, N.A., as Lender DATED AS OF JUNE 18, 2021 TABLE OF CONTENTS

EXECUTION VERSION Exhibit 99.1 $75,000,000 TERM LOAN AGREEMENT between PUBLIC SERVICE COMPANY OF NEW MEXICO, as Borrower, and BANK OF AMERICA, N.A., as Lender DATED AS OF JUNE 18, 2021 TABLE OF CONTENTS Page SECTION 1 DEFINITIONS AND ACCOUNTING TERMS 1 1.1 Definitions. 1 1.2 Computation of Time Periods and Other Definitional Provisions. 14 1.3 Accounting Terms/Calculation of Financial Covenant. 15

Entry into a Material Definitive Agreement, Financial Statements and Exhibits, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) June 21, 2021 (June 18, 2021) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No.

PNM Resources Reports First Quarter Results 2021 Ongoing Earnings Guidance Affirmed

EX-99.1 2 ex99104302021earningsrelea.htm EX-99.1 Exhibit 99.1 ALBUQUERQUE, N.M. April 30, 2021 PNM Resources Reports First Quarter Results 2021 Ongoing Earnings Guidance Affirmed •2021 First Quarter GAAP earnings of $0.20 per diluted share •2021 First Quarter Ongoing earnings of $0.32 per diluted share •Affirmed 2021 Ongoing earnings guidance range of $2.27 to $2.37 per diluted share PNM Resources

PNMR 2021 Officer Annual Incentive Plan dated March 29, 2021

EX-10.1 2 pnm3312021ex101.htm EX-10.1 PNM RESOURCES, INC. 2021 OFFICER ANNUAL INCENTIVE PLAN Introduction PNM Resources, Inc. (the “Company” or “PNMR”) has adopted this 2021 Officer Annual Incentive Plan (the “Plan”) for the purpose of providing annual cash-based incentive awards (each an “Award”) to eligible Officers (as defined below). Eligibility Unless excluded below, all Officers of the Compa

PNMR 2021 Long-Term Incentive Plan dated March 29, 2021

EX-10.2 3 pnm3312021ex102.htm EX-10.2 PNM RESOURCES, INC. 2021 LONG-TERM INCENTIVE PLAN Introduction •The 2021 Long-Term Incentive Plan (the “Plan” or the “2021 Plan”) provides eligible Officers of PNM Resources, Inc. (the “Company” or “PNMR”) with the opportunity to earn Performance Share Awards (70% of the total opportunity) and time-vested Restricted Stock Rights Awards (30% of the total opport

Amendment dated March 29, 2020 to PNMR 2020 Long-Term Incentive Plan

SECOND AMENDMENT TO THE PNM RESOURCES, INC. 2020 LONG-TERM INCENTIVE PLAN The 2020 Long-Term Incentive Plan (the ?Plan?) was adopted pursuant to the PNM Resources, Inc. 2014 Performance Equity Plan (the ?PEP?). The Plan has been amended on one previous occasion. By this instrument, the Company desires to amend the Plan as set forth below. 1.The definition of FFO/Debt Ratio as set forth in footnote

Second Amendment dated March 29, 2020 to PNMR 2019 Long-Term Incentive Plan

EX-10.4 5 pnm3312021ex104.htm EX-10.4 SECOND AMENDMENT TO THE PNM RESOURCES, INC. 2019 LONG-TERM INCENTIVE PLAN The 2019 Long-Term Incentive Plan (the “Plan”) was adopted pursuant to the PNM Resources, Inc. 2014 Performance Equity Plan (the “PEP”). The Plan has been amended on one previous occasion. By this instrument, the Company desires to amend the Plan as set forth below. 1.The definition of F

Amendment dated March 29, 2020 to PNMR 2018 Long-Term Incentive Plan

FIRST AMENDMENT TO THE PNM RESOURCES, INC. 2018 LONG-TERM INCENTIVE PLAN The 2018 Long-Term Incentive Plan (the ?Plan?) was adopted pursuant to the PNM Resources, Inc. 2014 Performance Equity Plan (the ?PEP?). By this instrument, the Company desires to amend the Plan as set forth below. 1.The definition of FFO/Debt Ratio as set forth in footnote 5 of the Plan is hereby amended and restated in its

Quarterly Report - 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) April 30, 2021 (April 30, 2021) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification N

Second Amendment to PNMR Executive Savings Plan II executed December 28, 2020

EX-10.7 8 pnm12312020ex107.htm EX-10.7 Exhibit 10.7 SECOND AMENDMENT TO THE PNM RESOURCES, INC. EXECUTIVE SAVINGS PLAN II Effective as of December 15, 2004, PNM Resources, Inc. (the “Company”) adopted the PNM Resources, Inc. Executive Savings Plan II (the “Plan”). The Plan has been amended or restated on a number of occasions, with the most recent restatement being generally effective as of Januar

Letter Amendment to PNMR 2020 Long-Term Incentive Plan for Charles Eldred, effective December 4, 2020

EX-10.3 4 pnm12312020ex103.htm EX-10.3 Exhibit 10.3 December, 2020 Mr. Charles Eldred Executive Vice President, Corporate Development and Finance PNM Resources, Inc. Corporate Headquarters Albuquerque, NM 87158-1275 Re: Amendment to the 2020 Long-Term Incentive Plan Dear Chuck: On March 30, 2020, PNM Resources, Inc. (the “Company”) adopted the 2020 Long-Term Incentive Plan, which has been amended

Letter Amendment to PNMR 2020 Long-Term Incentive Plan for Patrick Apodaca, effective December 4, 2020

Exhibit 10.5 December, 2020 Mr. Patrick Apodaca Senior Vice President and General Counsel PNM Resources, Inc. Corporate Headquarters Albuquerque, NM 87158-1275 Re: Amendment to the 2020 Long-Term Incentive Plan Dear Patrick: On March 30, 2020, PNM Resources, Inc. (the ?Company?) adopted the 2020 Long-Term Incentive Plan, which has been amended on one occasion (the ?Plan?). The Plan was adopted pur

First Amendment to PNMR 2020 Long-Term Incentive Plan executed December 28, 2020

EX-10.6 7 pnm12312020ex106.htm EX-10.6 Exhibit 10.6 FIRST AMENDMENT TO THE PNM RESOURCES, INC. 2020 LONG-TERM INCENTIVE PLAN The 2020 Long-Term Incentive Plan (the “Plan”) was adopted pursuant to the PNM Resources, Inc. 2014 Performance Equity Plan (the “PEP”). By this instrument, the Company desires to amend the Plan as set forth below. 1.The fourth bullet point (out of 11 bullet points in the Se

Annual Report - 10-K

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No. PNM

Purchase and Sale Agreement dated November 1, 2020, between Navajo Transitional Energy Company and PNM

EX-10.18 9 pnm12312020ex1018.htm EX-10.18 Exhibit 10.18 Execution Version PURCHASE AND SALE AGREEMENT BY AND BETWEEN NAVAJO TRANSITIONAL ENERGY COMPANY, LLC, a Navajo Nation limited liability company, and Public Service Company of New Mexico, a New Mexico corporation Dated as of November 1, 2020 TABLE OF CONTENTS Page ARTICLE 1 DEFINITIONS 1 1.1 Defined Terms 1 1.2 Index of Other Defined Terms 11

Certain subsidiaries of PNM Resources, Inc.

EX-21 11 pnm12312020ex21.htm EX-21 EXHIBIT 21 Subsidiaries of PNM Resources, Inc. As of December 31, 2019, PNM Resources, Inc. directly or indirectly owns all of the voting securities of the following subsidiaries: Public Service Company of New Mexico, a New Mexico corporation that does business under the names “Public Service Company of New Mexico” and “PNM”. Texas-New Mexico Power Company, a Tex

Second Amendment to Build Transfer Agreement dated November 5, 2020 among New Mexico Renewable Energy Transmission Authority, Western Spirit Transmission LLC, and PNM (Western Spirit Line)

EX-10.19 10 pnm12312020ex1019.htm EX-10.19 SECOND AMENDMENT TO BUILD TRANSFER AGREEMENT This Second Amendment to Build Transfer Agreement (this “Amendment”), dated as of November 5, 2020, is made and entered into by and among NEW MEXICO RENEWABLE ENERGY TRANSMISSION AUTHORITY, a public body of the State of New Mexico, politic and corporate, separate and apart from the state, constituting a governm

2021 Director Compensation Summary

Exhibit 10.1 2021 Director Compensation Summary Non-employee directors of PNM Resources, Inc. (the ?Company?) receive their annual retainer in the form of cash and stock-based compensation as determined by the Company's Board of Directors (the ?Board?). At the December 2020 Board meeting, the Board approved making the following changes to director compensation for 2021: increasing the annual cash

First Amendment to PNMR 2019 Long-Term Incentive Plan executed December 28, 2020

EX-10.2 3 pnm12312020ex102.htm EX-10.2 Exhibit 10.2 FIRST AMENDMENT TO THE PNM RESOURCES, INC. 2019 LONG-TERM INCENTIVE PLAN The 2019 Long-Term Incentive Plan (the “Plan”) was adopted pursuant to the PNM Resources, Inc. 2014 Performance Equity Plan (the “PEP”). By this instrument, the Company desires to amend the Plan as set forth below. 1.The fourth bullet point (out of 11 bullet points in the Se

Letter Amendment to PNMR 2020 Long-Term Incentive Plan for Patricia Collawn, effective December 4, 2020

EX-10.4 5 pnm12312020ex104.htm EX-10.4 Exhibit 10.4 December, 2020 Ms. Patricia K. Collawn President and Chief Executive Officer PNM Resources, Inc. Corporate Headquarters Albuquerque, NM 87158-1275 Re: Amendment to the 2020 Long-Term Incentive Plan Dear Pat: On March 30, 2020, PNM Resources, Inc. (the “Company”) adopted the 2020 Long-Term Incentive Plan, which has been amended on one occasion (th

PNM Resources Reports 2020 Earnings Results 2021 Ongoing Earnings Guidance Affirmed

Exhibit 99.1 ALBUQUERQUE, N.M. February 26, 2021 PNM Resources Reports 2020 Earnings Results 2021 Ongoing Earnings Guidance Affirmed •2020 GAAP earnings of $2.15 per diluted share •2020 Ongoing earnings per share of $2.28 in line with expectations •Affirmed 2021 Ongoing earnings guidance range of $2.27 to $2.37 per diluted share PNM Resources (In millions, except EPS) 2020 2019 GAAP net earnings a

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) February 26, 2021 (February 26, 2021) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identifica

Term Loan Agreement, dated as of December 21, 2020, between PNMR and U.S. Bank National Association, as sole lender (incorporated by reference to Exhibit 10.1 to PNMR's Current Report on Form 8-K filed December 22,

Exhibit 10.1 EXECUTION VERSION $150,000,000 TERM LOAN AGREEMENT among PNM RESOURCES, INC., as Borrower, THE LENDERS IDENTIFIED HEREIN, U.S. BANK NATIONAL ASSOCIATION, as Administrative Agent DATED AS OF December 21, 2020 U.S. BANK NATIONAL ASSOCIATION, as Sole Lead Arranger and Bookrunner TABLE OF CONTENTS SECTION 1 DEFINITIONS AND ACCOUNTING TERMS 5 1.1 Definitions. 5 1.2 Computation of Time Peri

Entry into a Material Definitive Agreement, Termination of a Material Definitive Agreement, Financial Statements and Exhibits, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) December 22, 2020 (December 21, 2020) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identifica

Term Loan Agreement, dated as of December 22, 2020, between PNMR, the lenders party thereto, and MUFG Bank Ltd., as administrative agent (incorporated by reference to Exhibit 10.2 to PNMR's Current Report on Form 8-K filed December 22,

Exhibit 10.2 EXECUTION VERSION $300,000,000 TERM LOAN AGREEMENT among PNM RESOURCES, INC., as Borrower, THE LENDERS IDENTIFIED HEREIN, MUFG BANK, LTD., as Administrative Agent DATED AS OF December 22, 2020 MUFG UNION BANK, N.A., as Sole Lead Arranger and Bookrunner TABLE OF CONTENTS SECTION 1 DEFINITIONS AND ACCOUNTING TERMS 5 1.1 Definitions. 5 1.2 Computation of Time Periods and Other Definition

PNM Accelerates Full Exit of Coal to 2024 Negotiation Reached for Early Exit from Four Corners Power Plant; Clean Energy Transition Benefits Customers and Communities

Exhibit 99.1 For Immediate Release November 2, 2020 PNM Accelerates Full Exit of Coal to 2024 Negotiation Reached for Early Exit from Four Corners Power Plant; Clean Energy Transition Benefits Customers and Communities (ALBUQUERQUE, N.M.) – PNM, the wholly owned New Mexico utility subsidiary of PNM Resources (NYSE: PNM), today announces that it has reached an agreement to facilitate its exit from

Financial Statements and Exhibits, Other Events - 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) November 2, 2020 (November 1, 2020) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identificati

Quarterly Report - 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identificatio

PNM Resources Reports Third Quarter Results 2020 Revised Ongoing Earnings Guidance Affirmed, Conference call set for 11 a.m. Eastern today

Exhibit 99.1 For Immediate Release October 30, 2020 PNM Resources Reports Third Quarter Results 2020 Revised Ongoing Earnings Guidance Affirmed, Conference call set for 11 a.m. Eastern today PNM Resources (In millions, except EPS) Q3 2020 Q3 2019 YTD 2020 YTD 2019 GAAP net earnings attributable to PNM Resources $121.8 $102.8 $164.0 $45.6 GAAP diluted EPS $1.52 $1.28 $2.05 $0.57 Ongoing net earning

First Amendment to Build Transfer Agreement dated August 31, 2020 among New Mexico Renewable Energy Transmission Authority, Western Spirit Transmission, LLC, and Public Service Company of New Mexico (Western Spirit Line)

EX-10.1 2 pnm9302020ex101.htm EX-10.1 FIRST AMENDMENT TO BUILD TRANSFER AGREEMENT This First Amendment to Build Transfer Agreement (this “Amendment”), dated as of August 31, 2020, is made and entered into by and among NEW MEXICO RENEWABLE ENERGY TRANSMISSION AUTHORITY, a public body of the State of New Mexico, politic and corporate, separate and apart from the state, constituting a governmental in

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) October 30, 2020 (October 30, 2020) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identificati

Note Purchase Agreement dated April 17, 2020 between PNM and the purchasers named therein (PNM 2020 SUNs)

Exhibit 10.1 Execution Version PUBLIC SERVICE COMPANY OF NEW MEXICO $200,000,000 $150,000,000 3.21% Senior Unsecured Notes, Series A, due April 30, 2030 $50,000,000 3.57% Senior Unsecured Notes, Series B, due April 29, 2039 NOTE PURCHASE AGREEMENT Dated April 30, 2020 Table of Contents SECTION HEADING PAGE SECTION 1. AUTHORIZATION OF NOTES 1 SECTION 2. SALE AND PURCHASE OF NOTES 1 SECTION 3. CLOSI

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) July 31, 2020 (July 31, 2020) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No.

Quarterly Report - 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No.

PNM Resources Reports Second Quarter Results 2020 Ongoing Earnings Guidance Affirmed, Conference call set for 11 a.m. Eastern today

Exhibit 99.1 For Immediate Release July 31, 2020 PNM Resources Reports Second Quarter Results 2020 Ongoing Earnings Guidance Affirmed, Conference call set for 11 a.m. Eastern today PNM Resources (In millions, except EPS) Q2 2020 Q2 2019 YTD 2020 YTD 2019 GAAP net earnings (loss) attributable to PNM Resources $57.5 ($75.9) $42.2 ($57.2) GAAP diluted EPS $0.72 ($0.95) $0.53 ($0.72) Ongoing net earni

PNM Exits Palo Verde Leases Optimizing Carbon-Free Resources to Maximize Renewables and Reduce Customer Costs

Exhibit 99.1 For Immediate Release June 11, 2020 PNM Exits Palo Verde Leases Optimizing Carbon-Free Resources to Maximize Renewables and Reduce Customer Costs (ALBUQUERQUE, N.M.) – PNM, the wholly owned New Mexico utility subsidiary of PNM Resources (NYSE: PNM), announced today that it will exit its leases for 114 megawatts of Palo Verde Nuclear Generating Station (Palo Verde) capacity. The replac

Regulation FD Disclosure, Financial Statements and Exhibits, Other Events

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) June 11, 2020 (June 11, 2020) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No.

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CORRESP 1 filename1.htm Public Service Company of New Mexico 414 Silver Ave. SW Albuquerque, New Mexico 87102-3289 May 26, 2020 VIA EDGAR United States Securities and Exchange Commission Division of Corporation Finance 100 F Street, NE Washington, D.C. 20549 Attn: Anuja A. Majmudar Re: Public Service Company of New Mexico Registration Statement on Form S-3 Filed May 13, 2020 File No. 333-238234 (t

- S-3

S-3 1 a05132020pnms-3.htm S-3 As filed with the Securities and Exchange Commission on May 13, 2020 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM S-3 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 PUBLIC SERVICE COMPANY OF NEW MEXICO (Exact name of registrant as specified in its charter) New Mexico 85-0019030 (State or other jurisdiction

Form T-1 Statement of Eligibility under the Trust Indenture Act of 1939 of MUFG Union Bank, N.A. (ultimate successor to The Chase Manhattan Bank), as Trustee for the Senior Unsecured Notes.

Exhibit 25.1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE Check if an Application to Determine Eligibility of a Trustee Pursuant to Section 305(b)(2) MUFG UNION BANK, N.A. (Exact name of Trustee as specified in its charter) 94-0304228 I.R.S. Employer Iden

Quarterly Report - 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) May 1, 2020 (May 1, 2020) Name of Registrant, State of Incorporation, Address Of Principal Executive Offices, Telephone Number, Commission File No., IRS Employer Identification No. PNM