El Paso Electric Company (the “Company”) held its annual meeting of shareholders on May 23, 2019 (the “Annual Meeting”). As of the close of business on March 25, 2019, the record date for the Annual Meeting, the Company had a total of 40,737,514 shares of common stock outstanding and entitled to vote at the Annual Meeting, of which 38,642,732 shares were represented at the Annual Meeting in person or by proxy. The matters voted upon and the number of votes cast for or against, as well as the number of abstentions and broker non-votes as to such matters, were as stated below. A detailed discussion of each of these proposals can be found in the Company’s Proxy Statement relating to the Annual Meeting filed by the Company with the Securities and Exchange Commission on April 12, 2019.

Proposal 1: Election of Class I Directors

The Company’s shareholders elected the following persons to serve as Class I directors to hold office for a three-year term expiring at the Company’s 2022 annual meeting of shareholders:

After the Annual Meeting, the Board of Directors of the Company (the “Board”) voted to reduce the size of the Board to eight members. In addition to the Class I directors listed in the table above, the following individuals continue to serve as Class II and Class III directors of the Company following the Annual Meeting: Edward Escudero and Eric B. Siegel as Class II directors, and Raymond Palacios, Jr., Stephen W. Wertheimer, and Charles A. Yamarone as Class III directors.

Proposal 2: Appointment of Independent Registered Public Accounting Firm

The Company’s shareholders ratified the selection of KPMG LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2019 by the following vote:

Proposal 3: Advisory Vote on the Company’s Executive Compensation

The Company’s shareholders approved an advisory vote on the Company’s executive compensation for 2018, also known as the “say-on-pay” vote, by the following vote:

Item 8.01. Other Events.

On May 23, 2019, the Company announced that the Board approved an increase to the quarterly cash dividend to $0.385 per share of common stock from its current quarterly rate of $0.36>per share, commencing with the June 28, 2019 dividend payment, which will be payable to shareholders of record as of the close of business on June 14, 2019.

About El Paso Electric Company (NYSE:EE)

El Paso Electric Company is engaged in the generation, transmission and distribution of electricity in an area of approximately 10,000 square miles in west Texas and southern New Mexico. The Company owns or has ownership interests in several electrical generating facilities providing it with a generating capability of over 2,055 Megawatts. The Company’s energy sources consists of approximately 47% nuclear fuel, 34% natural gas, 6% coal, 13% purchased power and 1% generated by Company-owned solar photovoltaic panels and wind turbines. The Company has power purchase agreements for over 107 Megawatts from solar photovoltaic generation facilities. The Company serves approximately 404,500 residential, commercial, industrial, public authority and wholesale customers. The Company distributes electricity to retail customers principally in El Paso, Texas and Las Cruces, New Mexico. In addition, its wholesale sales include sales for resale to other electric utilities and power marketers.