Business Description

A - 1 THE COMPANY A - 1 WEBSITES A - 2 OPERATIONS AND REGULATION A - 2 REGULATED OPERATIONS TNMP A - 2 PNM A - 3 CORPORATE AND OTHER A - 4 SOURCES OF POWER A - 5 FUEL A - 7 ENVIRONMENTAL MATTERS A - 8 COMPETITION A - 8 HUMAN CAPITAL RESOURCES A - 8 DISCLOSURE REGARDING FORWARD LOOKING STATEMENTS A - 9 SECURITIES ACT DISCLAIMER A - 11