Representative Matters

SETTLED ARBITRATION OF A $1.5 BILLION MULTI-PART TRANSACTION FOR NAVAJO TRANSITIONAL ENERGY CO.

Settled arbitration of a $1.5 billion multi-part transaction for Navajo Transitional Energy Co. with the Arizona public service company that included the purchase of an interest in Four Corners Power Plant, renegotiation of a 15-year coal supply agreement, debt refinance and direct power sales to third parties.