Document:

EX-4.01

 Exhibit 4.01 

PUBLIC SERVICE COMPANY 

OF COLORADO 
 TO 

U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, 

as Trustee 
  

 
 Supplemental
Indenture No. 33 
 Dated as of May 1, 2022 

Supplemental to the Indenture 

dated as of October 1, 1993 
  

 
 Establishing the
Securities of Series Nos. 38 and 39 
 designated 4.10% First Mortgage Bonds, Series No. 38 due 2032, and 

4.50% First Mortgage Bonds, Series No. 39 due 2052, respectively 

 SUPPLEMENTAL INDENTURE NO. 33, dated as of May 1, 2022, between PUBLIC
SERVICE COMPANY OF COLORADO, a corporation duly organized and existing under the laws of the State of Colorado (hereinafter sometimes called the “Company”), and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, a
national banking association, as successor trustee (hereinafter sometimes called the “Trustee”) to Morgan Guaranty Trust Company of New York under the Indenture, dated as of October 1, 1993 (hereinafter called the
“Original Indenture”), as previously supplemented and as further supplemented by this Supplemental Indenture No. 33. The Original Indenture and any and all indentures and all other instruments supplemental thereto are
hereinafter sometimes collectively called the “Indenture”. 
 Recitals of the Company 

The Original Indenture was authorized, executed and delivered by the Company to provide for the issuance from time to time of its Securities
(such term and all other capitalized terms used herein without definition having the meanings assigned to them in the Original Indenture), to be issued in one or more series as contemplated therein, and to provide security for the payment of the
principal of and premium, if any, and interest, if any, on the Securities. The Original Indenture has been recorded in the office of the Clerk and Recorder of each county in the State of Colorado in which the Company owns real property that is used
in or in connection with the Electric Utility Business, as more fully set forth in Schedule A hereto. 
 The Company has heretofore executed
and delivered to the Trustee the Supplemental Indentures referred to in Schedule B hereto for the purpose of establishing various series of Securities and appointing previous successor Trustees. 

The Company desires to establish two new series of Securities to be designated “4.10% First Mortgage Bonds, Series No. 38 due
2032” and “4.50% First Mortgage Bonds, Series No. 39 due 2052” such series of Securities to be hereinafter sometimes called “Series No. 38” and “Series No. 39,” respectively. 

The Company has duly authorized the execution and delivery of this Supplemental Indenture No. 33 to establish the Securities of Series
No. 38 and Series No. 39 and has duly authorized the issuance of such Securities; and all acts necessary to make this Supplemental Indenture No. 33 a valid agreement of the Company, and to make the Securities of Series No. 38 and
Series No. 39 valid obligations of the Company, have been performed. 
 Granting Clauses 

NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE NO. 33 WITNESSETH, that, in consideration of the premises and of the purchase of the
Securities by the Holders thereof, and in order to secure the payment of the principal of and premium, if any, and interest, if any, on all Securities from time to time Outstanding and the performance of the covenants contained therein and in the
Indenture and to declare the terms and conditions on which such Securities are secured, the Company hereby grants, bargains, sells, releases, conveys, assigns, transfers, mortgages, pledges, sets over and confirms to the Trustee, and grants to the
Trustee a security interest in, the following: 
 Granting Clause First 

All right, title and interest of the Company, as of the date of the execution and delivery of this Supplemental Indenture
No. 33, in and to property (other than Excepted Property), real, personal and mixed and wherever situated, in any case used or to be used in or in connection with the Electric Utility Business (whether or not such use is the sole

  
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use of such property), including without limitation (a) all lands and interests in land described or referred to in Schedule C hereto, and all right, title and interest of the Company in
goods, fixtures or improvements located on those lands, if any, described or referred to in Schedule D hereto, provided that the Lien hereof shall not extend to or encumber the fee owner’s interest in any land or interest in land in which the
Company holds only a leasehold interest; (b) all other lands, easements, servitudes, licenses, permits, rights of way and other rights and interests in or relating to real property used or to be used in or in connection with the Electric
Utility Business or relating to the occupancy or use of such real property, subject however, to the exceptions and exclusions set forth in clause (a) of Granting Clause First of the Original Indenture; (c) all plants, generators, turbines,
engines, boilers, fuel handling and transportation facilities, air and water pollution control and sewage and solid waste disposal facilities and other machinery and facilities for the generation of electric energy; (d) all switchyards, lines,
towers, substations, transformers and other machinery and facilities for the transmission of electric energy; (e) all lines, poles, conduits, conductors, meters, regulators and other machinery and facilities for the distribution of electric
energy; (f) all buildings, offices, warehouses and other structures used or to be used in or in connection with the Electric Utility Business; (g) all pipes, cables, insulators, ducts, tools, computers and other data processing and/or
storage equipment and other equipment, apparatus and facilities used or to be used in or in connection with the Electric Utility Business; (h) any or all of the foregoing properties in the process of construction; and (i) all other
property, of whatever kind and nature, ancillary to or otherwise used or to be used in conjunction with any or all of the foregoing or otherwise, directly or indirectly, in furtherance of the Electric Utility Business; 

Granting Clause Second 

Subject to the applicable exceptions permitted by Section 810(c), Section 1303 and Section 1305 of the Original
Indenture, all property (other than Excepted Property) of the kind and nature described in Granting Clause First which may be hereafter acquired by the Company, it being the intention of the Company that all such property acquired by the Company
after the date of the execution and delivery of this Supplemental Indenture No. 33 shall be as fully embraced within and subjected to the Lien hereof as if such property were owned by the Company as of the date of the execution and delivery of
this Supplemental Indenture No. 33; 
 Granting Clause Fourth 

All other property of whatever kind and nature subjected or required to be subjected to the Lien of the Indenture by any of the
provisions thereof; 
 This Instrument shall constitute a financing statement under the Colorado Uniform Commercial Code (the
“UCC”) to be filed in the real estate records, and is filed as a fixture filing under the UCC covering goods which are, or are to become, fixtures on the real property described herein, in the Original Indenture and all
supplements to the Original Indenture; 
 Excepted Property 

Expressly excepting and excluding, however, from the Lien and operation of the Indenture all Excepted Property of the Company,
whether now owned or hereafter acquired; 

  
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 TO HAVE AND TO HOLD all such property, real, personal and mixed, unto the Trustee,
its successors in trust and their assigns forever; 
 SUBJECT, HOWEVER, to (a) Liens existing at the date of the execution and
delivery of the Original Indenture, (b) as to property acquired by the Company after the date of the execution and delivery of the Original Indenture, Liens existing or placed thereon at the time of the acquisition thereof (including, but not
limited to, the Lien of any Class A Mortgage and purchase money Liens), (c) Retained Interests and (d) any other Permitted Liens, it being understood that, with respect to any property which was at the date of execution and delivery of the
Original Indenture or thereafter became or hereafter becomes subject to the Lien of any Class A Mortgage, the Lien of the Indenture shall at all times be junior, subject and subordinate to the Lien of such Class A Mortgage; 

IN TRUST, NEVERTHELESS, for the equal and proportionate benefit and security of the Holders from time to time of all Outstanding
Securities without any priority of any such Security over any other such Security; 
 PROVIDED, HOWEVER, that the right, title and
interest of the Trustee in and to the Mortgaged Property shall cease, terminate and become void in accordance with, and subject to the conditions set forth in, Article Nine of the Original Indenture, and if, thereafter, the principal of and premium,
if any, and interest, if any, on the Securities shall have been paid to the Holders thereof, or shall have been paid to the Company pursuant to Section 603 of the Original Indenture, then and in that case the Indenture shall terminate, and the
Trustee shall execute and deliver to the Company such instruments as the Company shall require to evidence such termination; otherwise the Indenture, and the estate and rights thereby granted shall be and remain in full force and effect; and 

THE PARTIES HEREBY FURTHER COVENANT AND AGREE as follows: 

ARTICLE ONE 
 Securities
of Series No. 38 
 There are hereby established the Securities of Series No. 38, which shall have the terms and
characteristics set forth below (the lettered subdivisions set forth below corresponding to the lettered subdivisions of Section 301 of the Original Indenture): 

(a) the title of the Securities of Series No. 38 shall be “4.10% First Mortgage Bonds, Series No. 38 due 2032”; 

(b) the Securities of Series No. 38 shall initially be authenticated and delivered in the aggregate principal amount of $300,000,000. The
Securities of Series No. 38 may be reopened and additional Securities of Series No. 38 may be issued in excess of the amount initially authenticated and delivered, provided that such additional Securities of Series No. 38 will contain
the same terms (including the Stated Maturity and interest payment terms) as the other Securities of Series No. 38, except for the price to the public, the issue date, and if applicable, the first interest accrual and payment dates. Any such
additional Securities of Series No. 38, together with the Securities of Series No. 38 initially authenticated, shall constitute a single series for purposes of the Indenture and shall be limited to an aggregate principal amount of
$1,000,000,000; 

  
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 (c) interest on the Securities of Series No. 38 shall be payable to the Persons in
whose names such Securities are registered at the close of business on the Regular Record Date for such interest, except as otherwise expressly provided in the form of such Securities attached as Exhibit A hereto; 

(d) the principal of the Securities of Series No. 38 shall be payable on June 1, 2032, the Stated Maturity for Series No. 38;

 (e) the Securities of Series No. 38 shall bear interest at a rate of 4.10% per annum; interest shall accrue on the Securities of
Series No. 38 from May 17, 2022 or the most recent date to which interest has been paid or duly provided for; the Interest Payment Dates for such Securities shall be June 1 and December 1 in each year, commencing December 1,
2022, and the Regular Record Dates with respect to the Interest Payment Dates for such Securities shall be May 15 and November 15 in each year, respectively (whether or not a Business Day); 

(f) the Corporate Trust Office of U.S. Bank Trust Company, National Association in New York, New York shall be the place at which (i) the
principal of, premium, if any, and interest, if any, on the Securities of Series No. 38 shall be payable, (ii) registration of transfer of such Securities may be effected, (iii) exchanges of such Securities may be effected and
(iv) notices and demands to or upon the Company in respect of such Securities and the Indenture may be served; and U.S. Bank Trust Company, National Association shall be the Security Registrar for such Securities; provided, however, that the
Company reserves the right to change, by one or more Officer’s Certificates, any such place or the Security Registrar; and provided, further, that the Company reserves the right to designate, by one or more Officer’s Certificates, its
principal office in Denver, Colorado, as any such place or itself as the Security Registrar; 
 (g) prior to December 1, 2031 (six
months prior to the Stated Maturity of the Securities of Series No. 38) (the “2032 Par Call Date”), the Company may redeem the Securities of Series No. 38 at its option, in whole or in part, at any time and from
time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of: 

(1) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption Date
(assuming the Securities of Series No. 38 matured on the 2032 Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at
the Treasury Rate (as defined below) applicable to the Securities of Series No. 38 plus 20 basis points less (b) interest accrued to the Redemption Date, and 

(2) 100% of the principal amount of the Securities of Series No. 38 to be redeemed, 

plus, in either case, accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

On or after the 2032 Par Call Date, the Company may redeem the Securities of Series No. 38 at its option, in whole or in
part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the Securities of Series No. 38 being redeemed plus accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

  
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 “Treasury Rate” means, with respect to any redemption date, the
yield determined by the Company in accordance with the following two paragraphs. 
 The Treasury Rate shall be determined by
the Company after 4:15 p.m., New York City time (or after such time as yields on U.S. government securities are posted daily by the Board of Governors of the Federal Reserve System), on the third business day preceding the Redemption Date based upon
the yield or yields for the most recent day that appear after such time on such day in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates
(Daily)—H.15” (or any successor designation or publication) (“H.15”) under the caption “U.S. government securities–Treasury constant maturities–Nominal” (or any successor caption or heading)
(“H.15 TCM”). In determining the Treasury Rate, the Company shall select, as applicable: 
 (1) the yield for the Treasury constant
maturity on H.15 exactly equal to the period from the Redemption Date to the 2032 Par Call Date (the “Remaining Life”); or 

(2) if there is no such Treasury constant maturity on H.15 exactly equal to the Remaining Life, the two yields—one yield corresponding to
the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately longer than the Remaining Life—and shall interpolate to the 2032 Par Call Date on a straight-line
basis (using the actual number of days) using such yields and rounding the result to three decimal places; or 
 (3) if there is no such
Treasury constant maturity on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury constant maturity on H.15 closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity
or maturities on H.15 shall be deemed to have a maturity date equal to the relevant number of months or years, as applicable, of such Treasury constant maturity from the Redemption Date. 

If on the third business day preceding the Redemption Date H.15 TCM is no longer published, the Company shall calculate the
Treasury Rate based on the rate per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second business day preceding such Redemption Date of the United States Treasury security maturing on, or with
a maturity that is closest to, the 2032 Par Call Date, as applicable. If there is no United States Treasury security maturing on the 2032 Par Call Date but there are two or more United States Treasury securities with a maturity date equally distant
from the 2032 Par Call Date, one with a maturity date preceding the 2032 Par Call Date and one with a maturity date following the 2032 Par Call Date, the Company shall select the United States Treasury security with a maturity date preceding the
2032 Par Call Date. If there are two or more United States Treasury securities maturing on the 2032 Par Call Date or two or more United States Treasury securities meeting the criteria of the preceding sentence, the Company shall select from among
these two or more United States Treasury securities the United States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United States Treasury securities at 11:00 a.m., New York City time.
In determining the Treasury Rate in accordance with the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the bid and asked prices (expressed as a
percentage of principal amount) at 11:00 a.m., New York City time, of such United States Treasury security, and rounded to three decimal places. 

  
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 The Company’s actions and determinations in determining the redemption
price shall be conclusive and binding for all purposes, absent manifest error. 
 The Trustee shall have no duty to
determine, or verify the calculation of, the redemption price. 
 The provisions of Sections 501, 502, 503, 504, 505 and 506
of the Original Indenture shall be applicable to the Securities of Series No. 38, except that (i) the notice of redemption required to be provided to Holders pursuant to Section 504 shall be provided not less than 10 nor more than 60
days prior to the Redemption Date and (ii) the notice of redemption to be provided by the Company to the Trustee pursuant to Section 502 shall be provided at least twenty-five (25) days prior to the Redemption Date (unless a shorter
notice period shall be satisfactory to the Trustee). 
 (h) not applicable; 

(i) the Securities of Series No. 38 shall be issuable only in denominations of $2,000 and integral multiples of $1,000 in excess thereof;

 (j) not applicable; 
 (k) not
applicable; 
 (l) not applicable; 

(m) not applicable; 
 (n) not
applicable; 
 (o) not applicable; 

(p) not applicable; 
 (q) the
Securities of Series No. 38 are to be initially registered in the name of Cede & Co., as nominee for The Depository Trust Company (the “Depositary”). Such Securities shall not be transferable or exchangeable,
nor shall any purported transfer be registered, except as follows: 
 (i) such Securities may be transferred in whole, and appropriate
registration of transfer effected, if such transfer is by such nominee to the Depositary, or by the Depositary to another nominee thereof, or by any nominee of the Depositary to any other nominee thereof, or by the Depositary or any nominee thereof
to any successor securities depositary or any nominee thereof; and 
 (ii) such Securities may be exchanged for definitive Securities
registered in the respective names of the beneficial holders thereof, and thereafter shall be transferable without restriction, if: 

  
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 (A) the Depositary, or any successor securities depositary, shall have notified the Company
and the Trustee that it is unwilling or unable to continue to act as securities depositary with respect to such Securities or the Depositary has ceased to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, and the
Trustee shall not have been notified by the Company within ninety (90) days of the identity of a successor securities depositary with respect to such Securities; or 

(B) the Company shall have delivered to the Trustee a Company Order to the effect that such Securities shall be so exchangeable on and after a
date specified therein; or 
 (C) (1) an Event of Default shall have occurred and be continuing, (2) the Trustee shall have given
notice of such Event of Default pursuant to Section 1102 of the Original Indenture, and (3) there shall have been delivered to the Company and the Trustee an Opinion of Counsel to the effect that the interests of the beneficial owners of
such Securities in respect thereof will be materially impaired unless such owners become Holders of definitive Securities; 
 (r) not
applicable; 
 (s) no service charge shall be made for the registration of transfer or exchange of the Securities of Series No. 38;
provided, however, that the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection with the exchange or transfer; 

(t) not applicable; 
  

	 	(u)	 (i) If the Company shall have caused the Company’s indebtedness in respect of any Securities of Series
No. 38, to have been satisfied and discharged prior to the Maturity of such Securities, as provided in Section 901 of the Original Indenture, the Company shall, promptly after the date of such satisfaction and discharge, give a notice to
each Person who was a Holder of any of such Securities on such date stating (A)(1) the aggregate principal amount of such Securities and (2) the aggregate amount of any money (other than amounts, if any, deposited in respect of accrued interest
on such Securities) and the aggregate principal amount of, the rate or rates of interest on, and the aggregate fair market value of, any Eligible Obligations deposited pursuant to Section 901 of the Original Indenture with respect to such
Securities and (B) that the Company will provide (and the Company shall promptly so provide) to such Person, or any beneficial owner of such Securities holding through such Person (upon written request to the Company sent to an address
specified in such notice), such other information as such Person or beneficial owner, as the case may be, reasonably may request in order to enable it to determine the federal income tax consequences to it resulting from the satisfaction and
discharge of the Company’s indebtedness in respect of such Securities. Thereafter, the Company shall, within forty-five (45) days after the end of each calendar year, give to each Person who at any time during such calendar year was a
Holder of such Securities a notice containing (X) such information as may be necessary to enable such Person to report its income, gain or loss for federal income tax purposes with respect to such Securities or the assets held on deposit

  
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in respect thereof during such calendar year or the portion thereof during which such Person was a Holder of such Securities, as the case may be (such information to be set forth for such
calendar year as a whole and for each month during such year) and (Y) a statement to the effect that the Company will provide (and the Company shall promptly so provide) to such Person, or any beneficial owner of such Securities holding through
such Person (upon written request to the Company sent to an address specified in such notice), such other information as such Person or beneficial owner, as the case may be, reasonably may request in order to enable it to determine its income, gain
or loss for federal income tax purposes with respect to such Securities or such assets for such year or portion thereof, as the case may be. The obligation of the Company to provide or cause to be provided information for purposes of income tax
reporting by any Person as described in the first two sentences of this paragraph shall be deemed to have been satisfied to the extent that the Company has provided or caused to be provided substantially comparable information pursuant to any
requirements of the Internal Revenue Code of 1986, as amended from time to time (the “Code”) and United States Treasury regulations thereunder. 

(ii) Notwithstanding the provisions of subparagraph (i) above, the Company shall not be required to give any notice specified in such
subparagraph or to otherwise furnish any of the information contemplated therein if the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Securities will not recognize income, gain or loss for
federal income tax purposes as a result of the satisfaction and discharge of the Company’s indebtedness in respect of such Securities and such Holders will be subject to federal income taxation on the same amounts and in the same manner and at
the same times as if such satisfaction and discharge had not occurred. 
 (iii) Anything in this clause (u) to the contrary
notwithstanding, the Company shall not be required to give any notice specified in subparagraph (i) or to otherwise furnish the information contemplated therein or to deliver any Opinion of Counsel contemplated by subparagraph (ii) if the
Company shall have caused Securities of Series No. 38 to be deemed to have been paid for purposes of the Indenture, as provided in Section 901 of the Original Indenture, but shall not have effected the satisfaction and discharge of its
indebtedness in respect of such Securities pursuant to such Section. 
 (v) The Securities of Series No. 38 shall be substantially in
the form attached hereto as Exhibit A, and shall have such further terms as are set forth in such form. 
 ARTICLE TWO 

Securities of Series No. 39 

There are hereby established the Securities of Series No. 39, which shall have the terms and characteristics set forth below (the lettered
subdivisions set forth below corresponding to the lettered subdivisions of Section 301 of the Original Indenture): 
 (a) the title of
the Securities of Series No. 39 shall be “4.50% First Mortgage Bonds, Series No. 39 due 2052”; 

  
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 (b) the Securities of Series No. 39 shall initially be authenticated and delivered in
the aggregate principal amount of $400,000,000. The Securities of Series No. 39 may be reopened and additional Securities of Series No. 39 may be issued in excess of the amount initially authenticated and delivered, provided that such
additional Securities of Series No. 39 will contain the same terms (including the Stated Maturity and interest payment terms) as the other Securities of Series No. 39, except for the price to the public, the issue date, and if applicable,
the first interest accrual and payment dates. Any such additional Securities of Series No. 39, together with the Securities of Series No. 39 initially authenticated, shall constitute a single series for purposes of the Indenture and shall
be limited to an aggregate principal amount of $1,000,000,000; 
 (c) interest on the Securities of Series No. 39 shall be payable to
the Persons in whose names such Securities are registered at the close of business on the Regular Record Date for such interest, except as otherwise expressly provided in the form of such Securities attached as Exhibit B hereto; 

(d) the principal of the Securities of Series No. 39 shall be payable on June 1, 2052, the Stated Maturity for Series No. 39;

 (e) the Securities of Series No. 39 shall bear interest at a rate of 4.50% per annum; interest shall accrue on the Securities of
Series No. 39 from May 17, 2022 or the most recent date to which interest has been paid or duly provided for; the Interest Payment Dates for such Securities shall be June 1 and December 1 in each year, commencing December 1,
2022, and the Regular Record Dates with respect to the Interest Payment Dates for such Securities shall be May 15 and November 15 in each year, respectively (whether or not a Business Day); 

(f) the Corporate Trust Office of U.S. Bank Trust Company, National Association in New York, New York shall be the place at which (i) the
principal of, premium, if any, and interest, if any, on the Securities of Series No. 39 shall be payable, (ii) registration of transfer of such Securities may be effected, (iii) exchanges of such Securities may be effected and
(iv) notices and demands to or upon the Company in respect of such Securities and the Indenture may be served; and U.S. Bank Trust Company, National Association shall be the Security Registrar for such Securities; provided, however, that the
Company reserves the right to change, by one or more Officer’s Certificates, any such place or the Security Registrar; and provided, further, that the Company reserves the right to designate, by one or more Officer’s Certificates, its
principal office in Denver, Colorado, as any such place or itself as the Security Registrar; 
 (g) prior to December 1, 2051 (six
months prior to the Stated Maturity of the Securities of Series No. 39) (the “2052 Par Call Date”), the Company may redeem the Securities of Series No. 39 at its option, in whole or in part, at any time and from
time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of: 

(1) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption Date
(assuming the Securities of Series No. 39 matured on the 2052 Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at
the Treasury Rate (as defined below) applicable to the Securities of Series No. 39 plus 25 basis points less (b) interest accrued to the Redemption Date, and 

  
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 (2) 100% of the principal amount of the Securities of Series No. 39 to be redeemed,

 plus, in either case, accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

On or after the 2052 Par Call Date, the Company may redeem the Securities of Series No. 39 at its option, in whole or in
part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the Securities of Series No. 39 being redeemed plus accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

“Treasury Rate” means, with respect to any redemption date, the yield determined by the Company in accordance with
the following two paragraphs. 
 The Treasury Rate shall be determined by the Company after 4:15 p.m., New York City time (or
after such time as yields on U.S. government securities are posted daily by the Board of Governors of the Federal Reserve System), on the third business day preceding the Redemption Date based upon the yield or yields for the most recent day that
appear after such time on such day in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily)—H.15” (or any successor designation or
publication) (“H.15”) under the caption “U.S. government securities–Treasury constant maturities–Nominal” (or any successor caption or heading) (“H.15 TCM”). In determining the Treasury Rate, the
Company shall select, as applicable: 
 (1) the yield for the Treasury constant maturity on H.15 exactly equal to the period from the
Redemption Date to the 2052 Par Call Date (the “Remaining Life”); or 
 (2) if there is no such Treasury constant
maturity on H.15 exactly equal to the Remaining Life, the two yields—one yield corresponding to the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately
longer than the Remaining Life—and shall interpolate to the 2052 Par Call Date on a straight-line basis (using the actual number of days) using such yields and rounding the result to three decimal places; or 

(3) if there is no such Treasury constant maturity on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury
constant maturity on H.15 closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on H.15 shall be deemed to have a maturity date equal to the relevant number of months or years, as
applicable, of such Treasury constant maturity from the Redemption Date. 
 If on the third business day preceding the
Redemption Date H.15 TCM is no longer published, the Company shall calculate the Treasury Rate based on the rate per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second business day preceding
such Redemption Date of the United States Treasury security maturing on, or with a maturity that is closest to, the 2052 Par Call Date, as applicable. If there is no United States Treasury security maturing on the 2052 Par Call Date but there are
two or more United States Treasury securities with a maturity date equally distant from the 2052 Par Call Date, one with a maturity date preceding the 2052 

  
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Par Call Date and one with a maturity date following the 2052 Par Call Date, the Company shall select the United States Treasury security with a maturity date preceding the 2052 Par Call Date. If
there are two or more United States Treasury securities maturing on the 2052 Par Call Date or two or more United States Treasury securities meeting the criteria of the preceding sentence, the Company shall select from among these two or more United
States Treasury securities the United States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United States Treasury securities at 11:00 a.m., New York City time. In determining the
Treasury Rate in accordance with the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the bid and asked prices (expressed as a percentage of principal
amount) at 11:00 a.m., New York City time, of such United States Treasury security, and rounded to three decimal places. 

The Company’s actions and determinations in determining the redemption price shall be conclusive and binding for all
purposes, absent manifest error. 
 The Trustee shall have no duty to determine, or verify the calculation of, the redemption
price. 
 The provisions of Sections 501, 502, 503, 504, 505 and 506 of the Original Indenture shall be applicable to the
Securities of Series No. 39, except that (i) the notice of redemption required to be provided to Holders pursuant to Section 504 shall be provided not less than 10 nor more than 60 days prior to the Redemption Date and (ii) the
notice of redemption to be provided by the Company to the Trustee pursuant to Section 502 shall be provided at least twenty-five (25) days prior to the Redemption Date (unless a shorter notice period shall be satisfactory to the Trustee).

 (h) not applicable; 
 (i) the
Securities of Series No. 39 shall be issuable only in denominations of $2,000 and integral multiples of $1,000 in excess thereof; 
 (j)
not applicable; 
 (k) not applicable; 

(l) not applicable; 
 (m) not
applicable; 
 (n) not applicable; 

(o) not applicable; 
 (p) not
applicable; 
 (q) the Securities of Series No. 39 are to be initially registered in the name of Cede & Co., as nominee for The
Depository Trust Company (the “Depositary”). Such Securities shall not be transferable or exchangeable, nor shall any purported transfer be registered, except as follows: 

  
 11 

 (i) such Securities may be transferred in whole, and appropriate registration of transfer
effected, if such transfer is by such nominee to the Depositary, or by the Depositary to another nominee thereof, or by any nominee of the Depositary to any other nominee thereof, or by the Depositary or any nominee thereof to any successor
securities depositary or any nominee thereof; and 
 (ii) such Securities may be exchanged for definitive Securities registered in the
respective names of the beneficial holders thereof, and thereafter shall be transferable without restriction, if: 
 (A) the Depositary, or
any successor securities depositary, shall have notified the Company and the Trustee that it is unwilling or unable to continue to act as securities depositary with respect to such Securities or the Depositary has ceased to be a clearing agency
registered under the Securities Exchange Act of 1934, as amended, and the Trustee shall not have been notified by the Company within ninety (90) days of the identity of a successor securities depositary with respect to such Securities; or 

(B) the Company shall have delivered to the Trustee a Company Order to the effect that such Securities shall be so exchangeable on and after a
date specified therein; or 
 (D) (1) an Event of Default shall have occurred and be continuing, (2) the Trustee shall have given
notice of such Event of Default pursuant to Section 1102 of the Original Indenture, and (3) there shall have been delivered to the Company and the Trustee an Opinion of Counsel to the effect that the interests of the beneficial owners of
such Securities in respect thereof will be materially impaired unless such owners become Holders of definitive Securities; 
 (r) not
applicable; 
 (s) no service charge shall be made for the registration of transfer or exchange of the Securities of Series No. 39;
provided, however, that the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection with the exchange or transfer; 

(t) not applicable; 
  

	 	(u)	 (i) If the Company shall have caused the Company’s indebtedness in respect of any Securities of Series
No. 39, to have been satisfied and discharged prior to the Maturity of such Securities, as provided in Section 901 of the Original Indenture, the Company shall, promptly after the date of such satisfaction and discharge, give a notice to
each Person who was a Holder of any of such Securities on such date stating (A)(1) the aggregate principal amount of such Securities and (2) the aggregate amount of any money (other than amounts, if any, deposited in respect of accrued interest
on such Securities) and the aggregate principal amount of, the rate or rates of interest on, and the aggregate fair market value of, any Eligible Obligations deposited pursuant to Section 901 of the Original Indenture with respect to such
Securities and (B) that the Company will provide (and the Company shall promptly so provide) to such Person, or any beneficial owner of 

  
 12 

 
such Securities holding through such Person (upon written request to the Company sent to an address specified in such notice), such other information as such Person or beneficial owner, as the
case may be, reasonably may request in order to enable it to determine the federal income tax consequences to it resulting from the satisfaction and discharge of the Company’s indebtedness in respect of such Securities. Thereafter, the Company
shall, within forty-five (45) days after the end of each calendar year, give to each Person who at any time during such calendar year was a Holder of such Securities a notice containing (X) such information as may be necessary to enable
such Person to report its income, gain or loss for federal income tax purposes with respect to such Securities or the assets held on deposit in respect thereof during such calendar year or the portion thereof during which such Person was a Holder of
such Securities, as the case may be (such information to be set forth for such calendar year as a whole and for each month during such year) and (Y) a statement to the effect that the Company will provide (and the Company shall promptly so
provide) to such Person, or any beneficial owner of such Securities holding through such Person (upon written request to the Company sent to an address specified in such notice), such other information as such Person or beneficial owner, as the case
may be, reasonably may request in order to enable it to determine its income, gain or loss for federal income tax purposes with respect to such Securities or such assets for such year or portion thereof, as the case may be. The obligation of the
Company to provide or cause to be provided information for purposes of income tax reporting by any Person as described in the first two sentences of this paragraph shall be deemed to have been satisfied to the extent that the Company has provided or
caused to be provided substantially comparable information pursuant to any requirements of the Internal Revenue Code of 1986, as amended from time to time (the “Code”) and United States Treasury regulations thereunder. 

(i) Notwithstanding the provisions of subparagraph (i) above, the Company shall not be required to give any notice specified in such
subparagraph or to otherwise furnish any of the information contemplated therein if the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Securities will not recognize income, gain or loss for
federal income tax purposes as a result of the satisfaction and discharge of the Company’s indebtedness in respect of such Securities and such Holders will be subject to federal income taxation on the same amounts and in the same manner and at
the same times as if such satisfaction and discharge had not occurred. 
 (ii) Anything in this clause (u) to the contrary
notwithstanding, the Company shall not be required to give any notice specified in subparagraph (i) or to otherwise furnish the information contemplated therein or to deliver any Opinion of Counsel contemplated by subparagraph (ii) if the
Company shall have caused Securities of Series No. 39 to be deemed to have been paid for purposes of the Indenture, as provided in Section 901 of the Original Indenture, but shall not have effected the satisfaction and discharge of its
indebtedness in respect of such Securities pursuant to such Section. 
 (v) The Securities of Series No. 39 shall be substantially in
the form attached hereto as Exhibit B, and shall have such further terms as are set forth in such form. 

  
 13 

 ARTICLE THREE 

Miscellaneous Provisions 

This Supplemental Indenture No. 33 is a supplement to the Original Indenture. As previously supplemented and further supplemented by this
Supplemental Indenture No. 33, the Original Indenture is in all respects ratified, approved and confirmed, and the Original Indenture, all previous supplements thereto and this Supplemental Indenture No. 33 shall together constitute one
and the same instrument. 

  
 14 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture
No. 33 to be duly executed as of the day and year first above written. 
  

			
	PUBLIC SERVICE COMPANY OF COLORADO
		
	By:	 	 /s/ Paul A. Johnson

		 	Name: Paul A. Johnson
		 	Title: Vice President and Treasurer

  

			
	STATE OF MINNESOTA	 	)
		 	) ss:
	COUNTY OF SCOTT	 	)

 The foregoing was acknowledged before me this 4th day of
May, 2022, by Paul A. Johnson, the Vice President and Treasurer of Public Service Company of Colorado, a corporation organized under the laws of Colorado, on behalf of the corporation. 

Witness my hand and official seal. 

My commission expires: January 31, 2026 
  

			
	
	 /s/ Kristin Lynn Westlund

	Name:	 	Kristin Lynn Westlund
		 	Notary Public, State of Minnesota

  
 [Signature Page –
Supplemental Indenture (PSCo)] 

 
			
	U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, Trustee
		
	By:	 	 /s/ Joshua A. Hahn

		 	Name: Joshua A. Hahn
		 	Title: Vice President

  

			
	STATE OF MINNESOTA	 	)
		 	) ss:
	COUNTY OF RAMSEY	 	)

 On the 4th day of May, 2022, before me personally came
Joshua A. Hahn, to me known, who, being by me duly sworn, did depose and say that he is a Vice President of U.S. Bank Trust Company, National Association, the banking association described in and which executed the foregoing instrument; and that he
signed his name thereto by authority of the Board of Directors of said banking association. 
  

	
	
	 /s/ Kristi M. Pardee

	Name: Kristi M. Pardee
	Notary Public, State of Minnesota

 [Signature Page – Supplemental Indenture (Trustee)] 

  

 EXHIBIT A 

FORM OF SECURITY 
 (See legend at
the end of this Security for 
 restrictions on transfer) 

PUBLIC SERVICE COMPANY OF COLORADO 

First Mortgage Bond, Series No. 38 
  

					
	 Original Interest Accrual Date

Interest Rate:
 Stated Maturity:

Interest Payment Dates:
 Regular
Record Dates:
	 		  	 May 17, 2022
 4.10% per annum

June 1, 2032
 June 1 and December 1

May 15 and November 15

 This Security is not a Discount Security 

within the meaning of the within-mentioned Indenture 

 
  

 

			
	Principal Amount	  	Registered No.                
	$	  	

 PUBLIC SERVICE COMPANY OF COLORADO, a corporation duly organized and existing under the laws of the State of
Colorado (herein called the “Company,” which term includes any successor corporation under the Indenture referred to below), for value received, hereby promises to pay to ______________, or registered assigns, the principal
sum of ____________ Dollars on the Stated Maturity specified above, and to pay interest thereon from the Original Interest Accrual Date specified above or from the most recent Interest Payment Date to which interest has been paid or duly provided
for, semi-annually in arrears on the Interest Payment Dates specified above in each year, commencing December 1, 2022 and at Maturity, at the Interest Rate per annum specified above, until the principal
hereof is paid or duly provided for. The interest so payable, and paid or duly provided for, on any Interest Payment Date shall, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities)
is registered at the close of business on the Regular Record Date specified above (whether or not a Business Day) next preceding such Interest Payment Date. Notwithstanding the foregoing, interest payable at Maturity shall be paid to the Person to
whom principal shall be paid. Except as otherwise provided in said Indenture, any such interest not so paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in
whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice of which shall be given to Holders of
Securities of this series not less than 15 days prior to such Special Record Date, or be paid in such other manner as permitted by the Indenture. 

  
 EXHIBIT A-1 

 Payment of the principal of this Security and interest hereon at Maturity shall be made upon
presentation of this Security at the Corporate Trust Office of U.S. Bank Trust Company, National Association in New York, New York or at such other office or agency as may be designated for such purpose by the Company from time to time. Payment of
interest on this Security (other than interest at Maturity) shall be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register, except that if such Person shall be a securities
depositary, such payment may be made by such other means in lieu of check as shall be agreed upon by the Company, the Trustee and such Person. Payment of the principal of and interest on this Security, as aforesaid, shall be made in such coin or
currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts. 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued
and issuable in one or more series under and equally secured by an Indenture, dated as of October 1, 1993 (such Indenture as originally executed and delivered and as supplemented or amended from time to time thereafter, together with any
constituent instruments establishing the terms of particular Securities, being herein called the “Indenture”), between the Company and U.S. Bank Trust Company, National Association as successor trustee (herein called the
“Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the property mortgaged, pledged and held in
trust, the nature and extent of the security and the respective rights, limitations of rights, duties and immunities of the Company, the Trustee and the Holders of the Securities thereunder and of the terms and conditions upon which the Securities
are, and are to be, authenticated and delivered and secured. The acceptance of this Security shall be deemed to constitute the consent and agreement by the Holder hereof to all of the terms and provisions of the Indenture. This Security is one of
the series designated above. 
 If any Interest Payment Date or the Stated Maturity shall not be a Business Day (as hereinafter defined),
payment of the amounts due on this Security on such date may be made on the next succeeding Business Day; and, if such payment is made or duly provided for on such Business Day, no interest shall accrue on such amounts for the period from and after
such Interest Payment Date or Stated Maturity, as the case may be, to such Business Day. 
 Prior to December 1, 2031 (six months prior
to the Stated Maturity of this Security) (the “Par Call Date”), the Company may redeem this Security at its option, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of
principal amount and rounded to three decimal places) equal to the greater of: 
 (1) (a) the sum of the present values of the remaining
scheduled payments of principal and interest thereon discounted to the Redemption Date (assuming this Security matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve
30-day months) at the Treasury Rate (as defined below) applicable to this Security plus 20 basis points less (b) interest accrued to the Redemption Date, and 

(2) 100% of the principal amount of this Security to be redeemed, 

plus, in either case, accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

On or after the Par Call Date, the Company may redeem this Security at its option, in whole or in part, at any time and from time to time, at
a redemption price equal to 100% of the principal amount of this Security being redeemed plus accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

“Treasury Rate” means, with respect to any redemption date, the yield determined by the Company in accordance with the following two
paragraphs. 

  
 EXHIBIT A-2 

 The Treasury Rate shall be determined by the Company after 4:15 p.m., New York City time (or
after such time as yields on U.S. government securities are posted daily by the Board of Governors of the Federal Reserve System), on the third business day preceding the Redemption Date based upon the yield or yields for the most recent day that
appear after such time on such day in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily)—H.15” (or any successor designation or
publication) (“H.15”) under the caption “U.S. government securities–Treasury constant maturities–Nominal” (or any successor caption or heading) (“H.15 TCM”). In determining the Treasury Rate, the
Company shall select, as applicable: 
 (1) the yield for the Treasury constant maturity on H.15 exactly equal to the period from the
Redemption Date to the Par Call Date (the “Remaining Life”); or 
 (2) if there is no such Treasury constant maturity
on H.15 exactly equal to the Remaining Life, the two yields—one yield corresponding to the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately longer than
the Remaining Life—and shall interpolate to the Par Call Date on a straight-line basis (using the actual number of days) using such yields and rounding the result to three decimal places; or 

(3) if there is no such Treasury constant maturity on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury
constant maturity on H.15 closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on H.15 shall be deemed to have a maturity date equal to the relevant number of months or years, as
applicable, of such Treasury constant maturity from the Redemption Date. 
 If on the third business day preceding the Redemption Date H.15
TCM is no longer published, the Company shall calculate the Treasury Rate based on the rate per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second business day preceding such Redemption Date
of the United States Treasury security maturing on, or with a maturity that is closest to, the Par Call Date, as applicable. If there is no United States Treasury security maturing on the Par Call Date but there are two or more United States
Treasury securities with a maturity date equally distant from the Par Call Date, one with a maturity date preceding the Par Call Date and one with a maturity date following the Par Call Date, the Company shall select the United States Treasury
security with a maturity date preceding the Par Call Date. If there are two or more United States Treasury securities maturing on the Par Call Date or two or more United States Treasury securities meeting the criteria of the preceding sentence, the
Company shall select from among these two or more United States Treasury securities the United States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United States Treasury securities at
11:00 a.m., New York City time. In determining the Treasury Rate in accordance with the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the bid and asked
prices (expressed as a percentage of principal amount) at 11:00 a.m., New York City time, of such United States Treasury security, and rounded to three decimal places. 

The Company’s actions and determinations in determining the redemption price shall be conclusive and binding for all purposes, absent
manifest error. 
 The Trustee shall have no duty to determine, or verify the calculation of, the redemption price. 

If an Event of Default shall occur and be continuing, the principal of this Security may be declared due and payable in the manner and with
the effect provided in the Indenture. 

  
 EXHIBIT A-3 

 The Indenture permits, with certain exceptions as therein provided, the Trustee to enter
into one or more supplemental indentures for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, the Indenture with the consent of the Holders of not less than a majority in aggregate principal
amount of the Securities of all series then Outstanding under the Indenture, considered as one class; provided, however, that if there shall be Securities of more than one series Outstanding under the Indenture and if a proposed supplemental
indenture shall directly affect the rights of the Holders of Securities of one or more, but less than all, of such series, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Securities of all series
so directly affected, considered as one class, shall be required; and provided, further, that if the Securities of any series shall have been issued in more than one Tranche and if the proposed supplemental indenture shall directly affect the rights
of the Holders of Securities of one or more, but less than all, of such Tranches, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Securities of all Tranches so directly affected, considered as one
class, shall be required; and provided, further, that the Indenture permits the Trustee to enter into one or more supplemental indentures for limited purposes without the consent of any Holders of Securities. The Indenture also contains provisions
permitting the Holders of a majority in principal amount of the Securities then Outstanding, on behalf of the Holders of all Securities, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer
hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 As
provided in the Indenture and subject to certain limitations therein set forth, this Security or any portion of the principal amount hereof will be deemed to have been paid for all purposes of the Indenture and to be no longer Outstanding
thereunder, and, at the election of the Company, the Company’s entire indebtedness in respect thereof will be satisfied and discharged, if there has been irrevocably deposited with the Trustee or any Paying Agent (other than the Company), in
trust, money in an amount which will be sufficient and/or Eligible Obligations, the principal of and interest on which when due, without regard to any reinvestment thereof, will provide moneys which, together with moneys so deposited, will be
sufficient to pay when due the principal of and interest on this Security when due. 
 As provided in the Indenture and subject to certain
limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the Corporate Trust Office of U.S. Bank Trust Company, National Association in New
York, New York or such other office or agency as may be designated by the Company from time to time, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed
by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series of authorized denominations and of like tenor and aggregate principal amount, will be issued to the designated transferee or
transferees. 
 The Securities of this series are issuable only as registered Securities, without coupons, and only in denominations of
$2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of the same
series, of any authorized denominations, as requested by the Holder surrendering the same, and of like tenor upon surrender of the Security or Securities to be exchanged at the office of U.S. Bank Trust Company, National Association, in New York,
New York or such other office or agency as may be designated by the Company from time to time. 
 No service charge shall be made for any
such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

  
 EXHIBIT A-4 

 Prior to due presentment of this Security for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the absolute owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any
such agent shall be affected by notice to the contrary. 
 The Indenture and the Securities shall be governed by and construed in accordance
with the laws of the State of New York (including without limitation Section 5-1401 of the New York General Obligations Law or any successor to such statute), except to the extent that the Trust Indenture
Act of 1939, as then in effect or any successor statute shall be applicable and except to the extent that the law of any jurisdiction wherein any portion of the property mortgaged pursuant to the Indenture or any indenture supplemental thereto is
located shall mandatorily govern the perfection, priority or enforcement of the lien of the Indenture and all indentures supplemental thereto with respect to such portion of the mortgaged property. 

As used herein, “Business Day” means any day, other than a Saturday or Sunday, which is not a day on which banking institutions or
trust companies in The City of New York, New York, or other city in which is located any office or agency maintained for the payment of principal or interest on this Security, are authorized or required by law, regulation or executive order to
remain closed. All other terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

As provided in the Indenture, no recourse shall be had for the payment of the principal of or interest on any Securities, or any part thereof,
or for any claim based thereon or otherwise in respect thereof, or of the indebtedness represented thereby, or upon any obligation, covenant or agreement under the Indenture, against, and no personal liability whatsoever shall attach to, or be
incurred by, any incorporator, shareholder, officer or director, as such, past, present or future of the Company or of any predecessor or successor corporation (either directly or through the Company or a predecessor or successor corporation),
whether by virtue of any constitutional provision, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly agreed and understood that the Indenture and all the Securities are solely corporate
obligations and that any such personal liability is hereby expressly waived and released as a condition of, and as part of the consideration for, the execution of the Indenture and the issuance of the Securities. 

Unless the certificate of authentication hereon has been executed by the Trustee or an Authenticating Agent by manual signature, this Security
shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 EXHIBIT A-5 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

			
	PUBLIC SERVICE COMPANY OF COLORADO
		
	By:	 	  

		 	[Vice President and Treasurer]

  

			
		
	 Attest:
	 	  

		 	Assistant Secretary

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

									
	Dated:	 	  
	  		  		  	
			
	 U.S. BANK TRUST COMPANY,

NATIONAL ASSOCIATION,
 as
Trustee
	  	OR	  	 U.S. BANK TRUST COMPANY,

NATIONAL ASSOCIATION,
 as
Trustee

					
	By	 	  
	  		  	By:	  	  

		 	Authorized Officer	  		  		  	as Authenticating Agent
					
		 		  		  	By:	  	  

		 		  		  		  	Authorized Officer

 Unless this certificate is presented by an authorized representative of The Depository Trust Company, a
limited-purpose trust company organized under the New York Banking Law (“DTC”), to the Company or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of
Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 

This Security may not be transferred or exchanged, nor may any purported transfer be registered, except (i) this Security may be
transferred in whole, and appropriate registration of transfer effected, if such transfer is by Cede & Co., as nominee for The Depository Trust Company (the “Depositary”), to the Depositary, or by the Depositary to
another nominee thereof, or by any nominee of the Depositary to any other nominee thereof, or by the Depositary or any nominee thereof to any successor securities depositary or any nominee thereof; and (ii) this Security may be exchanged for
definitive Securities registered in the respective names of the beneficial holders hereof, and thereafter shall be transferable without restrictions 

  
 EXHIBIT A-6 

 
if: (A) the Depositary, or any successor securities depositary, shall have notified the Company and the Trustee that it is unwilling or unable to continue to act as securities depositary
with respect to the Securities and the Trustee shall not have been notified by the Company within ninety (90) days of the identity of a successor securities depositary with respect to the Securities; or (B) the Company shall have delivered
to the Trustee a Company Order to the effect that the Securities shall be so exchangeable on and after a date specified therein or (C) (1) an Event of Default shall have occurred and be continuing, (2) the Trustee shall have given notice
of such Event of Default pursuant to Section 1102 of the Original Indenture and (3) there shall have been delivered to the Company and the Trustee an Opinion of Counsel to the effect that the interests of the beneficial owners of such
Securities in respect thereof will be materially impaired unless such owners become Holders of definitive Securities. 
  

 
 FOR VALUE
RECEIVED the undersigned hereby sells, assigns and transfers unto 
  
  

[please insert social security or other identifying number of assignee] 

 
  

[please print or typewrite name and address of assignee] 
  

 
 the within Security of PUBLIC SERVICE COMPANY OF
COLORADO and does hereby irrevocably constitute and appoint __________________________________, Attorney, to transfer said Security on the books of the within-mentioned Company, with full power of substitution
in the premises. 
 Dated:
                                         
                
  

 
 Notice: The
signature to this assignment must correspond with the name as written upon the face of the Security in every particular without alteration or enlargement or any change whatsoever. 

  
 EXHIBIT A-7 

 EXHIBIT B 

FORM OF SECURITY 
 (See legend at
the end of this Security for 
 restrictions on transfer) 

PUBLIC SERVICE COMPANY OF COLORADO 

First Mortgage Bond, Series No. 39 
  

					
	 Original Interest Accrual Date

Interest Rate:
 Stated Maturity:

Interest Payment Dates:
 Regular
Record Dates:
	  		  	 May 17, 2022
 4.50% per annum

June 1, 2052
 June 1 and December 1

May 15 and November 15

 This Security is not a Discount Security 

within the meaning of the within-mentioned Indenture 

 
  

 

			
	Principal Amount	  	Registered No.                
	$	  	

 PUBLIC SERVICE COMPANY OF COLORADO, a corporation duly organized and existing under the laws of the State of
Colorado (herein called the “Company,” which term includes any successor corporation under the Indenture referred to below), for value received, hereby promises to pay to ______________, or registered assigns, the principal
sum of ____________ Dollars on the Stated Maturity specified above, and to pay interest thereon from the Original Interest Accrual Date specified above or from the most recent Interest Payment Date to which interest has been paid or duly provided
for, semi-annually in arrears on the Interest Payment Dates specified above in each year, commencing December 1, 2022 and at Maturity, at the Interest Rate per annum specified above, until the principal
hereof is paid or duly provided for. The interest so payable, and paid or duly provided for, on any Interest Payment Date shall, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities)
is registered at the close of business on the Regular Record Date specified above (whether or not a Business Day) next preceding such Interest Payment Date. Notwithstanding the foregoing, interest payable at Maturity shall be paid to the Person to
whom principal shall be paid. Except as otherwise provided in said Indenture, any such interest not so paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in
whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice of which shall be given to Holders of
Securities of this series not less than 15 days prior to such Special Record Date, or be paid in such other manner as permitted by the Indenture. 

  
 EXHIBIT B-1 

 Payment of the principal of this Security and interest hereon at Maturity shall be made upon
presentation of this Security at the Corporate Trust Office of U.S. Bank Trust Company, National Association in New York, New York or at such other office or agency as may be designated for such purpose by the Company from time to time. Payment of
interest on this Security (other than interest at Maturity) shall be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register, except that if such Person shall be a securities
depositary, such payment may be made by such other means in lieu of check as shall be agreed upon by the Company, the Trustee and such Person. Payment of the principal of and interest on this Security, as aforesaid, shall be made in such coin or
currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts. 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued
and issuable in one or more series under and equally secured by an Indenture, dated as of October 1, 1993 (such Indenture as originally executed and delivered and as supplemented or amended from time to time thereafter, together with any
constituent instruments establishing the terms of particular Securities, being herein called the “Indenture”), between the Company and U.S. Bank Trust Company, National Association as successor trustee (herein called the
“Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the property mortgaged, pledged and held in
trust, the nature and extent of the security and the respective rights, limitations of rights, duties and immunities of the Company, the Trustee and the Holders of the Securities thereunder and of the terms and conditions upon which the Securities
are, and are to be, authenticated and delivered and secured. The acceptance of this Security shall be deemed to constitute the consent and agreement by the Holder hereof to all of the terms and provisions of the Indenture. This Security is one of
the series designated above. 
 If any Interest Payment Date or the Stated Maturity shall not be a Business Day (as hereinafter defined),
payment of the amounts due on this Security on such date may be made on the next succeeding Business Day; and, if such payment is made or duly provided for on such Business Day, no interest shall accrue on such amounts for the period from and after
such Interest Payment Date or Stated Maturity, as the case may be, to such Business Day. 
 Prior to December 1, 2051 (six months prior
to the Stated Maturity of this Security) (the “Par Call Date”), the Company may redeem this Security at its option, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of
principal amount and rounded to three decimal places) equal to the greater of: 
 (1) (a) the sum of the present values of the remaining
scheduled payments of principal and interest thereon discounted to the Redemption Date (assuming this Security matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve
30-day months) at the Treasury Rate (as defined below) applicable to this Security plus 25 basis points less (b) interest accrued to the Redemption Date, and 

(2) 100% of the principal amount of this Security to be redeemed, 

plus, in either case, accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

On or after the Par Call Date, the Company may redeem this Security at its option, in whole or in part, at any time and from time to time, at
a redemption price equal to 100% of the principal amount of this Security being redeemed plus accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

“Treasury Rate” means, with respect to any redemption date, the yield determined by the Company in accordance with the following two
paragraphs. 

  
 EXHIBIT B-2 

 The Treasury Rate shall be determined by the Company after 4:15 p.m., New York City time (or
after such time as yields on U.S. government securities are posted daily by the Board of Governors of the Federal Reserve System), on the third business day preceding the Redemption Date based upon the yield or yields for the most recent day that
appear after such time on such day in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily)—H.15” (or any successor designation or
publication) (“H.15”) under the caption “U.S. government securities–Treasury constant maturities–Nominal” (or any successor caption or heading) (“H.15 TCM”). In determining the Treasury Rate, the
Company shall select, as applicable: 
 (1) the yield for the Treasury constant maturity on H.15 exactly equal to the period from the
Redemption Date to the Par Call Date (the “Remaining Life”); or 
 (2) if there is no such Treasury constant maturity
on H.15 exactly equal to the Remaining Life, the two yields—one yield corresponding to the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately longer than
the Remaining Life—and shall interpolate to the Par Call Date on a straight-line basis (using the actual number of days) using such yields and rounding the result to three decimal places; or 

(3) if there is no such Treasury constant maturity on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury
constant maturity on H.15 closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on H.15 shall be deemed to have a maturity date equal to the relevant number of months or years, as
applicable, of such Treasury constant maturity from the Redemption Date. 
 If on the third business day preceding the Redemption Date H.15
TCM is no longer published, the Company shall calculate the Treasury Rate based on the rate per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second business day preceding such Redemption Date
of the United States Treasury security maturing on, or with a maturity that is closest to, the Par Call Date, as applicable. If there is no United States Treasury security maturing on the Par Call Date but there are two or more United States
Treasury securities with a maturity date equally distant from the Par Call Date, one with a maturity date preceding the Par Call Date and one with a maturity date following the Par Call Date, the Company shall select the United States Treasury
security with a maturity date preceding the Par Call Date. If there are two or more United States Treasury securities maturing on the Par Call Date or two or more United States Treasury securities meeting the criteria of the preceding sentence, the
Company shall select from among these two or more United States Treasury securities the United States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United States Treasury securities at
11:00 a.m., New York City time. In determining the Treasury Rate in accordance with the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the bid and asked
prices (expressed as a percentage of principal amount) at 11:00 a.m., New York City time, of such United States Treasury security, and rounded to three decimal places. 

The Company’s actions and determinations in determining the redemption price shall be conclusive and binding for all purposes, absent
manifest error. 
 The Trustee shall have no duty to determine, or verify the calculation of, the redemption price. 

If an Event of Default shall occur and be continuing, the principal of this Security may be declared due and payable in the manner and with
the effect provided in the Indenture. 

  
 EXHIBIT B-3 

 The Indenture permits, with certain exceptions as therein provided, the Trustee to enter
into one or more supplemental indentures for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, the Indenture with the consent of the Holders of not less than a majority in aggregate principal
amount of the Securities of all series then Outstanding under the Indenture, considered as one class; provided, however, that if there shall be Securities of more than one series Outstanding under the Indenture and if a proposed supplemental
indenture shall directly affect the rights of the Holders of Securities of one or more, but less than all, of such series, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Securities of all series
so directly affected, considered as one class, shall be required; and provided, further, that if the Securities of any series shall have been issued in more than one Tranche and if the proposed supplemental indenture shall directly affect the rights
of the Holders of Securities of one or more, but less than all, of such Tranches, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Securities of all Tranches so directly affected, considered as one
class, shall be required; and provided, further, that the Indenture permits the Trustee to enter into one or more supplemental indentures for limited purposes without the consent of any Holders of Securities. The Indenture also contains provisions
permitting the Holders of a majority in principal amount of the Securities then Outstanding, on behalf of the Holders of all Securities, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer
hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 As
provided in the Indenture and subject to certain limitations therein set forth, this Security or any portion of the principal amount hereof will be deemed to have been paid for all purposes of the Indenture and to be no longer Outstanding
thereunder, and, at the election of the Company, the Company’s entire indebtedness in respect thereof will be satisfied and discharged, if there has been irrevocably deposited with the Trustee or any Paying Agent (other than the Company), in
trust, money in an amount which will be sufficient and/or Eligible Obligations, the principal of and interest on which when due, without regard to any reinvestment thereof, will provide moneys which, together with moneys so deposited, will be
sufficient to pay when due the principal of and interest on this Security when due. 
 As provided in the Indenture and subject to certain
limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the Corporate Trust Office of U.S. Bank Trust Company, National Association in New
York, New York or such other office or agency as may be designated by the Company from time to time, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed
by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series of authorized denominations and of like tenor and aggregate principal amount, will be issued to the designated transferee or
transferees. 
 The Securities of this series are issuable only as registered Securities, without coupons, and only in denominations of
$2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of the same
series, of any authorized denominations, as requested by the Holder surrendering the same, and of like tenor upon surrender of the Security or Securities to be exchanged at the office of U.S. Bank Trust Company, National Association, in New York,
New York or such other office or agency as may be designated by the Company from time to time. 
 No service charge shall be made for any
such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

  
 EXHIBIT B-4 

 Prior to due presentment of this Security for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the absolute owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any
such agent shall be affected by notice to the contrary. 
 The Indenture and the Securities shall be governed by and construed in accordance
with the laws of the State of New York (including without limitation Section 5-1401 of the New York General Obligations Law or any successor to such statute), except to the extent that the Trust Indenture
Act of 1939, as then in effect or any successor statute shall be applicable and except to the extent that the law of any jurisdiction wherein any portion of the property mortgaged pursuant to the Indenture or any indenture supplemental thereto is
located shall mandatorily govern the perfection, priority or enforcement of the lien of the Indenture and all indentures supplemental thereto with respect to such portion of the mortgaged property. 

As used herein, “Business Day” means any day, other than a Saturday or Sunday, which is not a day on which banking institutions or
trust companies in The City of New York, New York, or other city in which is located any office or agency maintained for the payment of principal or interest on this Security, are authorized or required by law, regulation or executive order to
remain closed. All other terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

As provided in the Indenture, no recourse shall be had for the payment of the principal of or interest on any Securities, or any part thereof,
or for any claim based thereon or otherwise in respect thereof, or of the indebtedness represented thereby, or upon any obligation, covenant or agreement under the Indenture, against, and no personal liability whatsoever shall attach to, or be
incurred by, any incorporator, shareholder, officer or director, as such, past, present or future of the Company or of any predecessor or successor corporation (either directly or through the Company or a predecessor or successor corporation),
whether by virtue of any constitutional provision, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly agreed and understood that the Indenture and all the Securities are solely corporate
obligations and that any such personal liability is hereby expressly waived and released as a condition of, and as part of the consideration for, the execution of the Indenture and the issuance of the Securities. 

Unless the certificate of authentication hereon has been executed by the Trustee or an Authenticating Agent by manual signature, this Security
shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 EXHIBIT B-5 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

			
	PUBLIC SERVICE COMPANY OF COLORADO
		
	By:	 	  

		 	[Vice President and Treasurer]

			
	Attest:	 	  

		 	Assistant Secretary

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

Dated:
                                        
         
  

					
	 U.S. BANK TRUST COMPANY,

NATIONAL ASSOCIATION,
 as
Trustee
	  	OR	  	 U.S. BANK TRUST COMPANY,

NATIONAL ASSOCIATION,
 as
Trustee

  

									
	By	  	  
	  		  	By:	  	  

		  	Authorized Officer	  		  		  	as Authenticating Agent
					
		  		  		  	By:	  	  

		  		  		  		  	Authorized Officer

 Unless this certificate is presented by an authorized representative of The Depository Trust Company, a
limited-purpose trust company organized under the New York Banking Law (“DTC”), to the Company or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of
Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 

This Security may not be transferred or exchanged, nor may any purported transfer be registered, except (i) this Security may be
transferred in whole, and appropriate registration of transfer effected, if such transfer is by Cede & Co., as nominee for The Depository Trust Company (the “Depositary”), to the Depositary, or by the Depositary to
another nominee thereof, or by any nominee of the Depositary to any other nominee thereof, or by the Depositary or any nominee thereof to any successor securities depositary or any nominee thereof; and (ii) this Security may be exchanged for
definitive Securities registered in the respective names of the beneficial holders hereof, and thereafter shall be transferable without restrictions 

  
 EXHIBIT B-6 

 
if: (A) the Depositary, or any successor securities depositary, shall have notified the Company and the Trustee that it is unwilling or unable to continue to act as securities depositary
with respect to the Securities and the Trustee shall not have been notified by the Company within ninety (90) days of the identity of a successor securities depositary with respect to the Securities; or (B) the Company shall have delivered
to the Trustee a Company Order to the effect that the Securities shall be so exchangeable on and after a date specified therein or (C) (1) an Event of Default shall have occurred and be continuing, (2) the Trustee shall have given notice
of such Event of Default pursuant to Section 1102 of the Original Indenture and (3) there shall have been delivered to the Company and the Trustee an Opinion of Counsel to the effect that the interests of the beneficial owners of such
Securities in respect thereof will be materially impaired unless such owners become Holders of definitive Securities. 
   

 
 FOR VALUE
RECEIVED the undersigned hereby sells, assigns and transfers unto 
  
  

[please insert social security or other identifying number of assignee] 

 
  

[please print or typewrite name and address of assignee] 
  

 
 the within Security of PUBLIC SERVICE COMPANY OF
COLORADO and does hereby irrevocably constitute and appoint __________________________________, Attorney, to transfer said Security on the books of the within-mentioned Company, with full power of substitution
in the premises. 
 Dated:
                                        
     
  
  

Notice: The signature to this assignment must correspond with the name as written upon the face of the Security in every particular without
alteration or enlargement or any change whatsoever. 

  
 EXHIBIT B-7 

 SCHEDULE A 

The following table sets forth recording information relating to the recordation, in each of the specified Colorado counties, of the
Indenture dated as of October 1, 1993, granted by Public Service Company of Colorado to Morgan Guaranty Trust Company of New York, Trustee (recording information for Supplemental Indentures is not shown in this table): 

 

											
	 COUNTY
	  	DATE	  	TIME	  	RECEPTION NUMBER	  	BOOK/FILM	  	PAGE
	 Adams
	  	Oct. 13, 1993	  	01:35 P.M.	  	Reception No. B1183903	  	Book 4170	  	Page 324
	 Alamosa
	  	Oct. 12, 1993	  	03:00 P.M.	  	Reception No. 265666	  	Book 475	  	Page 160
	 Arapahoe
	  	Oct. 13, 1993	  	04:07 P.M.	  	Reception No. 141032	  	Book 7186	  	Page 383
	 Archuleta
	  	Oct. 12, 1993	  	02:21 P.M.	  	Reception No. 93006202	  		  	
	 Baca
	  	May 16, 2013	  	09:50 A.M.	  	Reception No. 418754	  		  	
	 Bent
	  	Oct. 12, 1993	  	11:35 A.M.	  	Reception No. 278521	  	Book 435	  	Page 1
	 Boulder
	  	Oct. 13, 1993	  	03:04 P.M.	  	Reception No. 01347991	  	Film 1888	  	
	 Broomfield
	  	May 10, 2019	  	10:20 A.M.	  	Reception No. 2019004811	  		  	
	 Chaffee
	  	Oct. 14, 1993	  	11:00 A.M.	  	Reception No. 269673	  	Book 539	  	Page 518
	 Cheyenne
	  	May 15, 2013	  	11:39 A.M.	  	Reception No. 236363	  		  	
	 Clear Creek
	  	Oct. 12, 1993	  	02:25 P.M.	  	Reception No. 163701	  	Book 505	  	Page 631
	 Conejos
	  	Oct. 13, 1993	  	09:56 A.M.	  	Reception No. 205693	  	Book 354	  	Page 776
	 Costilla
	  	Oct. 13, 1993	  	09:00 A.M.	  	Reception No. 191898	  	Book 291	  	Page 117
	 Crowley
	  	Oct. 13, 1993	  	08:40 A.M.	  	Reception No. 148850	  	Book 244	  	Page 195
	 Custer
	  	May 15, 2013	  	09:18 A.M.	  	Reception No. 221251	  		  	
	 Delta
	  	Oct. 13, 1993	  	09:37 A.M.	  	Reception No. 471619	  	Book 709	  	Page 50
	 Denver
	  	Oct. 12, 1993	  	11:24 A.M.	  	Reception No. 9300139814	  		  	
	 Dolores
	  	Oct. 14, 1993	  	12:50 P.M.	  	Reception No. 133132	  	Book 260	  	Page 300
	 Douglas
	  	Oct. 12, 1993	  	03:08 P.M.	  	Reception No. 9348340	  	Book 1154	  	Page 1
	 Eagle
	  	Oct. 12, 1993	  	04:48 P.M.	  	Reception No. 518046	  	Book 621	  	Page 978
	 Elbert
	  	Oct. 12, 1993	  	03:01 P.M.	  	Reception No. 313722	  	Book 480	  	Page 183
	 El Paso
	  	Oct. 12, 1993	  	01:38 P.M.	  	Reception No. 002368410	  	Book 6282	  	Page 51

  
 SCHEDULE A-1 

											
	 COUNTY
	  	DATE	  	TIME	  	RECEPTION NUMBER	  	BOOK/FILM	  	PAGE
	 Fremont
	  	Oct. 12, 1993	  	01:30 P.M.	  	Reception No. 608790	  	Book 1154	  	Page 31
	 Garfield
	  	Oct. 12, 1993	  	02:20 P.M.	  	Reception No. 453596	  	Book 878	  	Page 193
	 Gilpin
	  	Oct. 12, 1993	  	02:20 P.M.	  	Reception No. 79260	  	Book 551	  	Page 413
	 Grand
	  	Oct. 12, 1993	  	12:45 P.M.	  	Reception No. 93010260	  		  	
	 Gunnison
	  	Oct. 12, 1993	  	04:30 P.M.	  	Reception No. 446179	  	Book 733	  	Page 1
	 Hinsdale
	  	May 14, 2013	  	05:20 P.M.	  	Reception No. 100157	  		  	
	 Huerfano
	  	Oct. 12, 1993	  	11:15 A.M.	  	Reception No. 9244	  	Book 21M	  	Page 316
	 Jefferson
	  	Oct. 13, 1993	  	09:30 A.M.	  	Reception No. 93163438	  		  	
	 Kiowa
	  	Oct. 12, 1993	  	01:00 P.M.	  	Reception No. 249124	  	Book 409	  	Page 40
	 Kit Carson
	  	May 15, 2013	  	09:40 A.M.	  	Reception No. 201300563130	  		  	
	 La Plata
	  	Oct. 12, 1993	  	03:38 P.M.	  	Reception No. 655580	  		  	
	 Lake
	  	Oct. 12, 1993	  	03:00 P.M.	  	Reception No. 305501	  	Book 506	  	Page 635
	 Larimer
	  	Oct. 13, 1993	  	10:23 A.M.	  	Reception No. 93075587	  		  	
	 Las Animas
	  	May 15, 2013	  	09:24 A.M.	  	Reception No. 201300720666	  		  	
	 Lincoln
	  	May 10, 2019	  	11:33 A.M.	  	Reception No. 351580	  		  	
	 Logan
	  	Oct. 12, 1993	  	01:10 P.M.	  	Reception No. 606328	  	Book 874	  	Page 484
	 Mesa
	  	Oct. 12, 1993	  	12:06 P.M.	  	Reception No. 1656362	  	Book 2014	  	Page 129
	 Mineral
	  	May 16, 2013	  	10:40 A.M.	  	Reception No. 68174	  		  	
	 Moffat
	  	Oct. 12, 1993	  	11:00 A.M.	  	Reception No. 350044	  		  	
	 Montezuma
	  	Oct. 13, 1993	  	10:10 A.M.	  	Reception No. 435373	  	Book 0679	  	Page 756
	 Montrose
	  	Oct. 12, 1993	  	03:06 P.M.	  	Reception No. 591244	  	Book 862;	  	Page 281
	 Morgan
	  	Oct. 12, 1993	  	12:54 P.M.	  	Reception No. 738426	  	Book 959-60	  	Page 857
	 Otero
	  	May 15, 2013	  	08:02 A.M.	  	Reception No. 634927	  		  	
	 Ouray
	  	Oct. 13, 1993	  	11:08 A.M.	  	Reception No. 154688	  	Book 221	  	Page 500
	 Park
	  	Oct. 14, 1993	  	10:00 A.M.	  	Reception No. 417879	  	Book 504	  	Page 365
	 Pitkin
	  	Oct. 14, 1993	  	03:56 P.M.	  	Reception No. 362054	  	Book 726	  	Page 791

  
 SCHEDULE A-2 

											
	 COUNTY
	  	DATE	  	TIME	  	RECEPTION NUMBER	  	BOOK/FILM	  	PAGE
	 Prowers
	  	Oct. 12, 1993	  	02:00 P.M.	  	Reception No. 462785	  		  	
	 Pueblo
	  	Oct. 12, 1993	  	11:54 A.M.	  	Reception No. 1021381	  	Book 2685	  	Page 768
	 Rio Blanco
	  	Oct. 12, 1993	  	02:18 P.M.	  	Reception No. 249980	  	Book 506	  	Page 838
	 Rio Grande
	  	Oct. 13, 1993	  	11:46 A.M.	  	Reception No. 337091	  	Book 450	  	Page 43
	 Routt
	  	Oct. 12, 1993	  	11:12 A.M.	  	Reception No. 428347	  	Book 689	  	Page 2575
	 Saguache
	  	Oct. 13, 1993	  	11:05 A.M.	  	Reception No. 304092	  	Book 486	  	Page 625
	 San Juan
	  	Oct. 13, 1993	  	10:27 A.M.	  	Reception No. 136438	  	Book 240	  	Page 702
	 San Miguel
	  	Oct. 12, 1993	  	04:05 P.M.	  	Reception No. 287896	  	Book 518	  	Page 813
	 Sedgewick
	  	Oct. 12, 1993	  	02:15 P.M.	  	Reception No. 179877	  	Book 203	  	Page 55
	 Summit
	  	Oct. 12, 1993	  	01:40 P.M.	  	Reception No. 453148	  		  	
	 Teller
	  	Oct. 13, 1993	  	08:00 A.M.	  	Reception No. 412373	  	Book 698	  	Page 104
	 Washington
	  	Oct. 12, 1993	  	11:20 A.M.	  	Reception No. 802111	  	Book 925	  	Page 955
	 Weld
	  	Oct. 13, 1993	  	09:54 A.M.	  	Reception No. 2354434	  	Book 1406	  	Page 1
	 Yuma
	  	May 20, 2013	  	11:59 A.M.	  	Reception No. 00557180	  		  	

  
 SCHEDULE A-3 

 SCHEDULE B 

SUPPLEMENTAL INDENTURES 
  

											
	 Date of
 Supplemental

Indenture
	  	Series of Bonds	  	Principal Amount Issued	 	  	Principal
Amount
Outstanding	 
	 November 1, 1993
	  	Series No. 1	  	$	134,500,000	 	  	 	None	 
	 January 1, 1994
	  	Series No. 2 due 2001	  	$	102,667,000	 	  	 	None	 
		  	and	  				  			
		  	Series No. 2 due 2024	  	$	110,000,000	 	  	 	None	 
	 September 2, 1994
	  	None	  	 	None	 	  	 	None	 
	 (Appointment of Successor Trustee)
	  		  				  			
	 May 1, 1996
	  	Series No. 3	  	$	125,000,000	 	  	 	None	 
	 November 1, 1996
	  	Series No. 4	  	$	250,000,000	 	  	 	None	 
	 February 1, 1997
	  	Series No. 5	  	$	150,000,000	 	  	 	None	 
	 April 1, 1998
	  	Series No. 6	  	$	250,000,000	 	  	 	None	 
	 August 15, 2002
	  	Series No. 7	  	$	48,750,000	 	  	 	None	 
	 September 1, 2002
	  	Series No. 8	  	$	600,000,000	 	  	 	None	 
	 September 15, 2002
	  	Series No. 9	  	$	530,000,000	 	  	 	None	 
	 April 1, 2003
	  	Series No. 10	  	$	600,000,000	 	  	 	None	 
	 March 1, 2003
	  	Series No. 11	  	$	250,000,000	 	  	 	None	 
	 September 15, 2003
	  	Series No. 12	  	$	250,000,000	 	  	 	None	 
	 May 1, 2003
	  	Series No. 13	  	$	350,000,000	 	  	 	None	 
	 September 1, 2003
	  	Series No. 14	  	$	300,000,000	 	  	 	None	 
	 September 1, 2003
	  	Series No. 15	  	$	275,000,000	 	  	 	None	 
	 August 1, 2005
	  	Series No. 16	  	$	129,500,000	 	  	 	None	 
	 August 1, 2007
	  	Series No. 17 due 2037	  	$	350,000,000	 	  	$	350,000,000	 
	 August 1, 2008
	  	Series No. 18 due 2018	  	$	300,000,000	 	  	 	None	 
		  	and	  				  			
		  	Series No. 19 due 2038	  	$	300,000,000	 	  	$	300,000,000	 
	 May 1, 2009
	  	Series No. 20 due 2019	  	$	400,000,000	 	  	 	None	 
	 November 1, 2010
	  	Series No. 21 due 2020	  	$	400,000,000	 	  	 	None	 
	 August 1, 2011
	  	Series No. 22 due 2041	  	$	250,000,000	 	  	$	250,000,000	 
	 September 1, 2012
	  	Series No. 23 due 2022	  	$	300,000,000	 	  	$	300,000,000	 
		  	and	  				  			
		  	Series No. 24 due 2042	  	$	500,000,000	 	  	$	500,000,000	 
	 March 1, 2013
	  	Series No. 25 due 2023	  	$	250,000,000	 	  	$	250,000,000	 
		  	and	  				  			
		  	Series No. 26 due 2043	  	$	250,000,000	 	  	$	250,000,000	 
	 March 1, 2014
	  	Series No. 27 due 2044	  	$	300,000,000	 	  	$	300,000,000	 
	 May 1, 2015
	  	Series No. 28 due 2025	  	$	250,000,000	 	  	$	250,000,000	 
	 June 1, 2016
	  	Series No. 29 due 2046	  	$	250,000,000	 	  	$	250,000,000	 
	 June 1, 2017
	  	Series No. 30 due 2047	  	$	400,000,000	 	  	$	400,000,000	 
	 June 1, 2018
	  	Series No. 31 due 2028
 and
	  	$	350,000,000	 	  	$	350,000,000	 
		  	Series No. 32 due 2048	  	$	350,000,000	 	  	$	350,000,000	 
	 March 1, 2019
	  	Series No. 33 due 2049	  	$	400,000,000	 	  	$	400,000,000	 

  
 SCHEDULE B-1 

											
	 Date of
 Supplemental

Indenture
	  	Series of Bonds	  	Principal Amount Issued	 	  	Principal
Amount
Outstanding	 
	 August 1, 2019
	  	Series No. 34 due 2050	  	$	550,000,000	 	  	$	550,000,000	 
	 May 1, 2020
	  	Series No. 35 due 2051
 and
	  	$	375,000,000	 	  	$	375,000,000	 
		  	Series No. 36 due 2031	  	$	375,000,000	 	  	$	375,000,000	 
	 February 1, 2021
	  	Series No. 37 due 2031	  	$	750,000,000	 	  	$	750,000,000	 
	 May 1, 2022
	  	Series No. 38 due 2032
 and
	  	$	300,000,000	 	  	$	300,000,000	 
		  	Series No. 39 due 2052	  	$	400,000,000	 	  	$	400,000,000	 

  
 SCHEDULE B-2 

 SCHEDULE C 

DESCRIPTION OF PROPERTY 
 The following
properties are in the State of Colorado and the counties thereof: 
  

	1.	 HIGH POINT SUBSTATION 

A PARCEL OF LAND LOCATED IN THE SOUTHEAST QUARTER OF SECTION 12, TOWNSHIP 3 SOUTH, RANGE 66 WEST OF THE SIXTH PRINCIPAL MERIDIAN, COUNTY OF ADAMS, STATE OF
COLORADO, ALSO BEING A PORTION OF LANDS DESCRIBED AT RECEPTION NO. C0365968, FILED IN THE ADAMS COUNTY CLERK AND RECORDER’S OFFICE, SAID PARCEL OF LAND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 

BASIS OF BEARING OF THIS DESCRIPTION IS ALONG THE WEST LINE OF SAID SOUTHEAST QUARTER OF SECTION 12, ASSUMED TO BEAR N00°20’21“W A DISTANCE OF
2616.19 FEET FROM A 3” BRASS CAP STAMPED “COA 16848” FOUND AT THE SOUTH QUARTER CORNER OF SAID SECTION 12 TO A 2” ALUMINUM CAP STAMPED “12-1994 L.S. #24960” FOUND AT THE CENTER
QUARTER CORNER OF SAID SECTION 12; 
 COMMENCING AT SAID CENTER QUARTER CORNER OF SECTION 12; THENCE S54°39’41“E A DISTANCE OF 70.17 FEET TO
THE POINT OF BEGINNING; 
 THENCE S89°24’52“E A DISTANCE OF 939.00 FEET; 

THENCE S00°20’21“E A DISTANCE OF 545.00 FEET; 

THENCE N89°24’52“W A DISTANCE OF 939.00 FEET; 

THENCE N00°20’21“W A DISTANCE OF 545.00 FEET TO THE POINT OF BEGINNING; WHENCE SAID SOUTH QUARTER CORNER OF SECTION 12 BEARS
S00°55’43“W A DISTANCE OF 2575.89 FEET. 
 SAID PARCEL CONTAINS 511,688 SQUARE FEET OR 11.747 ACRES, MORE OR LESS. 

ADAMS COUNTY, COLORADO 
  

	2.	 HUSKY SUBSTATION 

LOT 8-A, HIGHLAND INDUSTRIAL PARK THIRD SUBDIVISION FINAL PLAT, ACCORDING TO PLAT RECORDED DECEMBER 20, 2018 AT
RECEPTION NO. 4455061, TOWN OF AULT, COUNTY OF WELD, STATE OF COLORADO 
 WELD COUNTY, COLORADO 

 

	3.	 ENNIS SUBSTATION 

ARTICLE FOUR 
 LOT 2, RATTLER RIDGE SUBDIVISION, COUNTY OF
WELD, STATE OF COLORADO, ACCORDING TO THE PLAT THEREOF RECORDED DECEMBER 20, 2021 IN THE OFFICE OF THE CLERK AND RECORDER OF WELD COUNTY, COLORADO AT RECEPTION NO. 4786501 

WELD COUNTY, COLORADO 

  
 SCHEDULE C-1 

 SCHEDULE D 

This Schedule D covers all right, title and interest, if any, of Public Service Company of Colorado in goods, fixtures or improvements located on the lands
described below in this Schedule D, but does not include and is not intended to encumber any fee or leasehold interest in the described lands themselves. 

Not Applicable 

  
 SCHEDULE D-1Exhibit 4(vi)

 

DESCRIPTION
OF OUR CAPITAL STOCK

 

The
following description of the material terms of our capital stock. We urge you to read the applicable provisions of Delaware General Corporation
Law (“DGCL”) and our forms Certificate of Incorporation and bylaws carefully and in their entirety because they describe
your rights as a holder of shares of our common stock.

 

General

 

Our
purpose is to engage in any lawful act or activity for which corporations may now or hereafter be organized under the DGCL. Our authorized
capital stock consists of 30,000,000 shares of common stock, par value $0.0001 per share, and 500,000 shares of preferred stock, par
value $0.0001 per share, of which 20,000 shares of preferred stock, has been designated Series A Convertible Preferred Stock. On December
20, 2021, 20,000 shares of preferred stock, designated Series A Convertible Preferred Stock, were sold and issued to 3i, LP, a Delaware
limited partnership. Unless our board of directors determines otherwise, we will issue all shares of our capital stock in uncertificated
form..

 

Common
Stock

 

Holders
of our common stock are entitled to one vote for each share held of record on all matters submitted to a vote of shareholders, including
the election or removal of directors, except for any directors who are elected exclusively by the holders of a class of our preferred
stock that entitles that class of stock to elect one or more directors. The holders of our common stock do not have cumulative voting
rights in the election of directors.

 

Upon
our liquidation, dissolution or winding up and after payment in full of all amounts required to be paid to creditors and to the holders
of preferred stock having liquidation preferences, if any, the holders of our common stock (and the holders of any preferred stock that
may then be outstanding, to the extent required by our certificate of incorporation, including any certificate of designation with respect
to any series of preferred stock) will be entitled to receive pro rata our remaining assets available for distribution, unless holders
of a majority of the outstanding shares of common stock approve a different treatment of the shares. Holders of our common stock do not
have preemptive, subscription, redemption or conversion rights. Our common stock will not be subject to further calls or assessment by
us. There will be no redemption or sinking fund provisions applicable to our common stock. All shares of our common stock that will be
outstanding at the effective time will be fully paid and non-assessable. The rights, powers, preferences and privileges of holders of
our common stock will be subject to those of the holders of our Series A Convertible Preferred Stock and any other shares of preferred
stock we may authorize and issue in the future.

 

Dividends

 

The
DGCL permits a corporation to declare and pay dividends out of “surplus” or, if there is no “surplus,” out of
its net profits for the fiscal year in which the dividend is declared and/or the preceding fiscal year. “Surplus” is defined
as the excess of the net assets of the corporation over the amount determined to be the capital of the corporation by the board of directors.
The capital of the corporation is typically calculated to be (and cannot be less than) the aggregate par value of all issued shares of
capital stock. Net assets equals the fair value of the total assets minus total liabilities. The DGCL also provides that dividends may
not be paid out of net profits if, after the payment of the dividend, capital is less than the capital represented by the outstanding
stock of all classes having a preference upon the distribution of assets.

 

Declaration
and payment of any dividend will be subject to the discretion of our board of directors. The time and amount of dividends will be dependent
upon our financial condition, operations, cash requirements and availability, debt repayment obligations, capital expenditure needs and
restrictions in our debt instruments, industry trends, the provisions of Delaware law affecting the payment of distributions to shareholders
and any other factors our board of directors may consider relevant.

 

We
have no current plans to pay dividends on our common stock. Any decision to declare and pay dividends in the future will be made at the
sole discretion of our board of directors and will depend on, among other things, our results of operations, cash requirements, financial
condition, contractual restrictions and other factors that our board of directors may deem relevant. Because we will be a holding company
and will have no direct operations, we will only be able to pay dividends from funds we receive from our operating subsidiaries. In addition,
our ability to pay dividends may be limited by the agreements governing any indebtedness that we or our subsidiaries incur in the future.

 

     

     

    

 

Annual Shareholder Meetings

 

Our
bylaws will provide that annual shareholder meetings will be held at a date, time and place, if any, as exclusively selected by our board
of directors. To the extent permitted under applicable law, we may conduct meetings by remote communications, including by webcast.

 

Dissenters’
Rights of Appraisal and Payment

 

Under
the DGCL, with certain exceptions, our shareholders will have appraisal rights in connection with a reorganization or consolidation we
may undertake in the future. Pursuant to the DGCL, shareholders who properly request and perfect appraisal rights in connection with
such reorganization or consolidation will have the right to receive payment of the fair value of their shares as determined by the Delaware
Court of Chancery.

 

Shareholders’
Derivative Actions

 

Under
the DGCL, any of our shareholders may bring an action in our name to procure a judgment in our favor, also known as a derivative action;
provided that the shareholder bringing the action is a holder of our shares at the time of the transaction to which the action relates
or such shareholder’s stock thereafter devolved by operation of law.

 

Exclusive
Forum

 

Our
certificate of incorporation provides that unless we consent to the selection of an alternative forum, any (1) derivative action
or proceeding brought on our behalf, (2) action asserting a claim of breach of a fiduciary duty owed by any director, officer, shareholder
or employee to us or our shareholders, (3) action asserting a claim arising pursuant to any provision of the DGCL or certificate
of incorporation or bylaws or (4) action asserting a claim governed by the internal affairs doctrine or otherwise related to our
internal affairs shall, to the fullest extent permitted by law, be exclusively brought in the Court of Chancery of the State of Delaware
or, if such court does not have subject matter jurisdiction thereof, another state or federal court located within the State of Delaware.
Any person or entity purchasing or otherwise acquiring any interest in shares our capital stock shall be deemed to have notice of and
consented to the forum provisions in our certificate of incorporation. In addition, the provisions described above will not apply to
suits brought to enforce a duty or liability arising under the Exchange Act or any other claim for which the federal courts have exclusive
jurisdiction. Furthermore, unless we consent in writing to the selection of an alternative forum, the federal district courts of the
United States shall be the exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities
Act. We intend for this provision to apply to any complaints asserting a cause of action under the Securities Act despite the fact that
Section 22 of the Securities Act creates concurrent jurisdiction for the federal and state courts over all actions brought to enforce
any duty or liability created by the Securities Act or the rules and regulations promulgated thereunder. There is uncertainty as to whether
a court would enforce this provision with respect to claims under the Securities Act where the state courts have concurrent jurisdiction
and our stockholders cannot waive compliance with the federal securities laws and the rules and regulations thereunder.

 

Limitations
on Liability and Indemnification of Officers and Directors

 

The
DGCL authorizes corporations to limit or eliminate the personal liability of directors to corporations and their shareholders for monetary
damages for breaches of directors’ fiduciary duties, subject to certain exceptions. Our certificate of incorporation includes a
provision that eliminates the personal liability of directors for monetary damages for any breach of fiduciary duty as a director, except
to the extent such exemption from liability or limitation thereof is not permitted under the DGCL. The effect of these provisions is
to eliminate our rights and the rights of our shareholders, through shareholders’ derivative suits on our behalf, to recover monetary
damages from a director for breach of fiduciary duty as a director, including breaches resulting from grossly negligent behavior. However,
exculpation does not apply to any director if the director has acted in bad faith, knowingly or intentionally violated the law, authorized
illegal dividends or redemptions or derived an improper benefit from his or her actions as a director.

 

Our
bylaws provide that we must indemnify and advance expenses to our directors and officers to the fullest extent authorized by the DGCL.
We are also expressly authorized to carry directors’ and officers’ liability insurance providing indemnification for our
directors, officers and certain employees for some liabilities. We believe that these indemnification and advancement provisions and
insurance are useful to attract and retain qualified directors and executive officers.

 

The
limitation of liability, advancement and indemnification provisions in our certificate of incorporation and bylaws may discourage shareholders
from bringing a lawsuit against directors for breach of their fiduciary duty.

 

These
provisions also may have the effect of reducing the likelihood of derivative litigation against directors and officers, even though such
an action, if successful, might otherwise benefit us and our shareholders. In addition, your investment may be adversely affected to
the extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification provisions.

 

There
is currently no pending material litigation or proceeding involving any of our directors, officers or employees for which indemnification
is sought.

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