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    Employees

    At PNM Resources, we value the diversity of our work force and actively seek opportunities for incorporating diversity within our family of companies. We believe a diverse work force enriches our environment and helps us better meet the needs of our employees, customers and shareholders.

    PNM Resources employs about 1,815 employees in New Mexico and Texas.

    • Minorities comprise approximately 46% of our work force
    • Veterans comprise approximately 7.3% of our work force
    • 55% of new hires in 2016 were minorities and 46.5% were women
    • Three women and one minority serve as corporate officers
    • Three women serve on the PNM Resources Board of Directors (including the Chairperson, President and CEO)

    We have received numerous awards over the years for the diversity of our workforce including:

    • HispanicBusiness.com ranked the success of U.S. companies in their achievement of diversity. In 2014, PNM Resources ranked #7 among 45 companies, and was recognized as one of the top diversity elite employers in the U.S. for several years in a row. Five factors were ranked: Diversity on the board and in leadership positions; recruitment; retention and promotion; marketing and community outreach; and supplier diversity.
    • In 2014, PNM Resources was honored to be recognized as the Employer of the Year by Employer Support of the Guard and Reserve (ESGR). We were nominated for this award by one of our employees, a Veteran and Guardsman.
    • The Company was awarded the Pro Patria award by the Employer Support of the Guard and Reserve in 2006.
    • For 7 consecutive years, PNM was honored as the best company in America for employing Hispanics and ranked among the best for minorities by Fortune magazine.

    At PNM Resources, our benefits are competitive, designed to meet the varied wants and needs of our employees and cultivate a work environment that encourages personal and professional growth. The Company-offered insurance plans are available to the employee and eligible dependents, including same-sex spouses. Although we typically do not employ a large percentage of part time employees, for those we do employ, many of the benefits that are available to full time employees are also extended to part time employees at reduced percentages, including receiving at least 100 hours of paid time off per year, and eligibility for tuition reimbursement at 50% of the rate of full time employees.

    PNM Resources also provides compliance and safety training to employees. This includes training that is required by external agencies (e.g. Occupational Safety and Health Administration (OSHA), Federal Energy Regulatory Commission (FERC) and North American Electric Reliability Corporation (NERC)). We also provide technical/functional training and leadership training, both online and in classroom, in addition to the tuition reimbursements described above.

    As of December 31, 2016, approximately 40% of our workforce population was represented by collective bargaining agreements. The PNM IBEW contract expires April 30, 2020 and the TNMP IBEW contract expires August 31, 2019.

    Our average employee turnover during 2016 was 9.55% across the company (this excludes any terminations due to reduction in force or death). As of December 31, 2016, 21% of the workforce were at risk of retirement.

    Safety is one of our Core Values, but reducing injuries has recently been a challenge. Our goal is to achieve industry-leading safety performance and ultimately become a zero-injury workplace. PNM Resources has initiated an effort across the company to renew the focus on safety and to encourage each and every employee to “Be the Reason Everyone Goes Home Safe.” We are encouraging every employee to set the tone, raise awareness and clearly communicate that even one accident or injury is too many, and that nothing should take precedence over keeping ourselves and our colleagues safe.

    The company has numerous employee policies that govern hiring practices, parental leave, health and safety, employee performance evaluations, anti-corruption, and anti-trust. Our Do The Right Thing code of conduct is an over-arching guiding document that lays the foundation of what is expected of employees. We also abide by an Equal Employment Opportunity policy that meets regulations and we believe that this helps to cultivate our environment of personal and professional growth.

    Customers

    Customer satisfaction has been on an upward climb over the last five years due to a continued focus across the organization on every aspect of the customer experience. PNM set an all-time company high for Overall Satisfaction as measured in the 2016 J.D. Power Electric Utility Residential Customer Satisfaction StudySM. All of the measures included in the score, including Power Quality and Reliability, Corporate Citizenship and Customer Service, continue to grow despite an unpredictable regulatory environment and some stakeholder negativity in the media. Furthermore, PNM ranked second of the 137 included brands for the largest score increase in Overall Satisfaction when the customer knows an employee. Energized by our successes, we will continue to look for ways to improve the customer experience in the years to come.

    Customer privacy policies can be found on pnm.com and tnmp.com.

    PNM supports a number of different avenues that help our customers with bill assistance due to financial circumstances. These include:

    • Good Neighbor Fund: PNM customers who are facing a financial emergency can receive a grant to help pay part or all of a past-due PNM bill. This is funded through generous donations from our customers and employees which are matched by PNM.  PNM also makes corporate contributions to this fund.
    • LIHEAP: Eligibility is determined by several factors, including household income and immigration status. Benefit amount is based on other factors, including income, household size, household members' ages, disabilities
    • Moratorium: Customers who qualify for low-income help from LIHEAP, may also qualify for the New Mexico heating season moratorium. Certain customers' electricity cannot be turned off from November 15, 2017 through March 15, 2018.
    • PNM Payment Arrangements: Customers that receive a PNM bill with a disconnect notice, and are unable to pay the amount due by the "pay no later than" date, can request a payment extension. Not all accounts are eligible for more time to pay an already past-due amount.
    • Medical Certificate Program: PNM provides information on the medical certificate program with bills that are subject to disconnection for nonpayment. The customer must qualify financially through the Human Services Division in order to qualify for this exemption.
    • Energy Efficiency Programs: PNM supports several other energy efficiency programs that help customers save money

    PNM and TNMP track the number of customers that have been disconnected due to nonpayment of their accounts. That information is summarized below:

    *TNMP serves Retail Electric Providers (REPs), who in turn, have the end-user relationship and are at risk for any non-payment from customers.  TNMP's bad debt would be associated with any REPs failure to pay TNMP.

    While PNM and TNMP have a diverse set of customers, the diversity amongst our own employees is very similar. Our customer service employees are trained to handle the broad range of inquires that commonly come from our customers, ranging from those who are well-educated about electricity to those who have a minimal understanding of how electricity works. Our customer service team is currently equipped to handle both English and Spanish speaking customers. We have Customer Service Representatives that are fluent in English and Spanish. We handle approximately 4,500 Spanish calls monthly, which represents about 6% of our call volume. Spanish speaking customers also have the opportunity to conduct electronic transactions via our Spanish Automated Phone System and we offer helpful information in English and Spanish on pnm.com. Demand in our customer service center for languages other than English and Spanish is minimal and typically the customer is able to interpret the call through a family member or friend. For customers who are deaf, there is a TTY service that enables interaction with our customer service team via the telephone.

    Political Contributions

    PNM Resources, PNM and TNMP Support an Open and Transparent Process

    The Company believes that public policy decisions shape the direction of our government and impact the environment in which we do business and the quality of life for all. Engaging in an open and transparent political process is an important principle of the company. Accordingly, the Company encourages its employees and stakeholders to participate in the political and public policy making processes. We support and strictly comply with all applicable federal, state, and local laws governing our political activities, and are committed to ensuring our actions reflect the company’s strong ethical standards.

    Political Participation

    Employees at all levels are encouraged to participate in the political process and fully exercise their rights. Consequently, the company generally will not promulgate policies that restrict any appropriate, lawful participation.

    However, campaign contributions to candidates seeking election to the New Mexico Public Regulation Commission (NMPRC) must be given special consideration given the NMPRC’s role as a regulator of the rates and services of PNM. To avoid even the appearance of impropriety, company officers are to refrain from contributing to NMPRC candidates or their campaign committees.

    Laws and regulations governing political activities and contributions are complex, and employees are prohibited from acting on behalf of PNM Resources or in any way giving the impression that their own opinions represent those of the company unless they are expressly authorized to do so.

    Political Contributions Policy

    PNM Resources supports public policies that promote a comprehensive energy policy; promote a responsible mix of energy resources that enable the company to generate and deliver reliable power; and supports policies that enable investments in infrastructure needed to efficiently deliver affordable, reliable and safe energy to our customers and the timely recovery of costs associated with those investments. PNM Resources’ decisions on spending corporate funds recognize these policy positions and a broad range of other criteria, including candidates’ commitments to sound energy policy.

    Generally, PNM Resources, as a corporation, does not make political contributions to or endorsements of individual political candidates, though corporate contributions are permitted by state law for state and local offices. Prior approval is required by the CEO for any corporate contributions and endorsements. All requests for political contributions are reviewed by the Company’s Government Affairs Department before any contributions are made to ensure compliance with PNM Resources’ political spending policies and all applicable laws and regulations.

    PNM Resources supports and encourages eligible employees to participate in the PNM Resources Responsible Citizens Group (RCG), an-employee funded political action committee governed by its own board of trustees. PNM Resources’ policies require that representatives of the Company file all political compliance reports required by the Federal Elections Commission and state election compliance offices in a complete and timely manner.

    Corporate Political Contributions

    Federal laws govern how a corporation may participate in the political process. Accordingly, PNM Resources does not contribute corporate funds directly to federal political candidates, committees or parties. However, on a limited basis and with the approval of the senior government affairs officer, we use corporate funds to make contributions to 527 organizations (tax-exempt organizations that engage in political activities) and trade associations. PNM Resources also makes contributions to a limited number of 501(c)(4) organizations whose primary purpose is to promote social welfare. These contributions are provided for support and not for political purposes.

    Decisions regarding contributions by PNM Resources are based on what is in the best interests of our customers, our shareholders and the company in general.

    We also engage in important state and federal issues through trade associations that represent a broad array of professional and industry interests. Depending on their roles, these organizations may be subject to lobbyist registration and disclosure reporting obligations, with their reports made available to the public by the federal and state agencies overseeing lobbying activities. For the trade associations where the company has contributed to, and the organization informs the company a portion of annual dues was used for lobbying, the company discloses the name of the trade association and the dollar amount used for lobbying in its Annual Report of Contributions (below), provided that the amount is $1,000 or more.

    Additionally, we are active in local chambers of commerce because the company actively supports the economic vitality of the areas we serve.

    Information on PNM Resources’ Corporate Political Contributions

    As part of our continued commitment to an open and transparent political process, we are pleased to provide a voluntary report of corporate contributions made to 527 organizations. We are also providing a report, which is included below based upon information when provided by a trade association, of the lobbying portion of payments and dues to trade organizations that, if made directly by PNM Resources, would not be deductible under section 162(e) of the Internal Revenue Code.

    PNM Resources’ Annual Reports of Contributions:

    2016 Political Contributions and Lobbying Expenses


    (1)Depending on their capacity and function, some trade associations may be subject to lobbyist disclosure reporting obligations, with their reports made available to the public by the federal and state agencies overseeing lobbying activities. This report includes trade associations to which PNM Resources made payments greater than $1,000 for dues and which notified PNM Resources of the portion used by that organization for expenditures or contributions that if made directly by PNM Resources would not be deductible under section 162(e) of the Internal Revenue Code.

    (2)Reported amount represents the estimated portion of PNM Resources dues that if made directly by PNM Resources would not be deductible under section 162(e) of the Internal Revenue Code and is based upon information requested and received by PNM Resources.

    PNM Resources Responsible Citizens Group (RCG)

    PNM Resources encourages employees to be active members of their communities. Along with participation in civic and volunteer activities, this includes participation in the political process. All eligible employees of PNM Resources may make voluntary contributions to the PNM Resources RCG. The RCG is directed by a governing board, comprised of employees, that approves all decisions regarding the group’s political contributions. RCG contributions go directly to support political candidates at the local, state, and federal levels.

    All political action committee contributions are publicly disclosed on the Federal Election Commission website. You can also view RCG contributions to state and local political campaigns on the New Mexico Secretary of State’s website (http://sos.state.nm.us).

    Lobbying

    PNM Resources actively participates in the political process to help shape policies that support our efforts to effectively and responsibly serve our customers, advance our business strategies and goals, promote effective public and government relations, and serve the interests of key stakeholder groups. By engaging with elected officials, community and business leaders, and state agencies, among others, we strive to conduct our business as transparently as possible to build trust and develop lasting partnerships that promote growth and innovation within our communities.

    PNM Resources engages registered lobbyists, both federal and state, to support its legislative and regulatory activities. These lobbyists are carefully selected and are engaged only with the approval of senior management responsible for government affairs oversight.

    Company employees whose main job is to lobby at the federal, state and local government levels are not permitted to make personal contributions to candidates for state and local offices in New Mexico and Texas. These employees and other interested eligible employees are provided the opportunity to participate in the RCG, where the board oversees the distribution of campaign contributions.

    Public Disclosure

    PNM Resources and their lobbyists are required to file lobbying reports with Congress and with state agencies on a regular basis. The reports include information on the issues lobbied, the agencies contacted and the expenditures made, and are available for public review on the websites of the U.S. House of Representatives (http://www.house.gov) and the U.S. Senate (http://www.senate.gov). State reports for PNM lobbyists are available for review through the New Mexico Secretary of State (http://sos.state.nm.us), and state reports for TNMP lobbyists are available for review through the Texas Ethics Commission (https://www.ethics.state.tx.us/dfs/loblists.htm).

    Trade Associations

    PNM Resources works with trade associations in its government relations activities. Depending on their capacity and function, some trade associations may be subject to lobbyist disclosure reporting obligations, with their reports made available to the public by the federal and state agencies overseeing lobbying activities. For the trade associations where PNM Resources has contributed $1,000 or more, and the organization informs the Company a portion of annual dues was used for lobbying, PNM Resources discloses the name of the trade association and the dollar amount used for lobbying in its Annual Report of Contributions which is included above.

    Community Involvement

    PNM Resources Inc. has a demonstrated commitment to build productive relationships with stakeholders, including customers, regulators, legislators and interveners through outreach, collaboration and various community-oriented programs.

    Building off work that began in 2008, PNM has continued outreach efforts to connect low-income customers with nonprofit community service providers offering support and help with such needs as utility bills, food, clothing, medical programs, services for seniors, and weatherization. In 2016, PNM hosted 41 assistance fairs throughout its service territory to help low-income customers. The PNM Good Neighbor Fund provided $546,298 in utility bill support to 3,784 families in 2016.

    The PNM Resources Foundation helps nonprofits become more energy efficient through Reduce Your Use grants. The Foundation awarded $250,000 to support 54 projects in New Mexico to fund investments in energy efficiency. The Foundation awarded $500,000 in Power Up Grants in 2016 to 29 nonprofits in New Mexico and Texas for projects ranging from creating community gathering spaces to revitalizing neighborhood parks to building a youth sports field. The new grant program is designed to help nonprofit organizations build more vibrant communities.

    In Texas, community outreach is centered first on local relationships, specifically with community leaders, nonprofit organizations and key customers in areas served by TNMP. Community liaisons serve in each of TNMP's three geographic business areas, reaching out and ensuring productive lines of communication between TNMP and its customer base. The Foundation awarded $50,000 to 11 community organizations for TNMP Power Grant projects throughout Texas.

    TNMP maintains long-standing relationships with several key nonprofit organizations, including agencies that support children and families in crisis, food banks, environmental organizations and educational nonprofits, through employee volunteerism and corporate support. TNMP also actively participates in safety fairs and demonstrations in addition to supporting local chambers of commerce in efforts to build their local economies.

    TNMP's energy efficiency program provides unique offers to multiple customer groups, including residential, commercial, government, education and nonprofit customers. These programs not only enable peak load and consumption reductions, particularly important when extreme weather affects Texas' electric system, but they also demonstrate TNMP's commitment to more than just delivering electricity by partnering with customers to optimize their energy usage.

    Employees across the Company demonstrate their involvement and dedication to the communities that they live and work in through their donations of time, money (which the Company may match through its Volunteer Grants or Matching Grants programs) and United Way giving. We also encourage employees to participate in the Company-Sponsored Day of Service event that is held annually, providing employees the opportunity to take a work day to connect with their communities. Employees are also offered eight hours of volunteer time off to support the organizations of their choice.  We had more than 725 employees participate in projects in 2016 for a total of more than 8,900 employee volunteer hours benefitting 263 organizations.

    PNM also works extensively with the many Native American tribes that are located in New Mexico. For example, PNM and the Navajo Nation joined forces with Navajo Technical University in Crownpoint, NM and San Juan College in Farmington, NM to develop and administer a scholarship program in 2013. PNM is contributing $1 million dollars, distributed $200,000 annually over five years to Navajo student scholarship recipients. San Juan College receives $114,000; Navajo Technical University $77,000; and PNM American Indian Engineering Summer Intern Program $10,000. The program was created to help minimize the economic impact of complying with federal visibility standards that will result in the closure of two of the four units at San Juan Generating Station in 2017. As of August 2016, the program has awarded 371 scholarships to Navajo students, with 81 recipients completing certificates, 55 completing associate degrees and 10 completing bachelor degrees.

    Dr. Toni Hopper-Pendergrass, San Juan College President, congratulates a recent Navajo graduate at the PNM San Juan College Workforce Training Student Reception in April. Dr. Pendergrass is joined by Lorenzo Bates, Speaker of the 23rd Navajo Nation Council and Ron Darnell, Senior Vice President of Public Policy for PNM Resources.