Company: PCG-PB
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001004980-25-000073
Chunk: 46

Company: PG&E Corp
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 46
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 shareholders. With limited exceptions, we do not make more money by selling more electricity and gas. Reducing our operating cost, which is tied to customer affordability through our rate-setting process, is directly aligned with creating shareholder value. |

| 2024 Performance Metric                 |     | Short-Term |     | Long-Term |     | Why This Matters                                                                                                                                                                                  |
| Financial                               |     |            |     |           |     |                                                                                                                                                                                                   |
| Non-GAAP core earnings per share        |     | l          |     |           |     | Measure to promote and assess financial stability; aligns with cost efficiency; promotes customer affordability and financial stability critical to continued provision of services to customers. |
| Operating cash flow                     |     | l          |     |           |     | Measure to drive smart investments in wildfire risk reduction for the benefit of customers; promotes responsible cash management.                                                                 |
| Relative total shareholder return (TSR) |     |            |     | l         |     | Measure to assess relative value created for our shareholders, provides an indirect external assessment of our performance in all other areas.                                                    |

The STIP also includes an individual performance modifier which enables greater individual accountability for contributions to our success in delivering results in the areas described above.

PG&E Corporation | Pacific Gas and Electric Company 2025 Joint Proxy Statement 55

#### Compensation Governance

#### Role of the People and Compensation Committee
The People and Compensation Committee is comprised of independent directors who collectively have the delegated authority to oversee matters relating to certain compensation, benefits, and human capital issues. In discharging their duties, the People and Compensation Committee receives input from the management teams and external independent consultants as appropriate.

| Management                                                                               |     | People and Compensation Committee                                                                                                                    |     | Boards                                                                                                                                                                                                 |
| Present proposals to the Committee on aspects of compensation and incentive plan design. |     | Oversee the companies’ compensation programs and makes recommendations to the Boards.                                                                |     | Review and approve the People and Compensation Committee’s recommendations related to PG&E Corporation CEO and Utility President (or equivalent officer) pay, and other matters brought to the Boards. |
|                                                                                          |     | Independent Consultants and Advisors                                                                                                                 |     |                                                                                                                                                                                                        |
|                                                                                          |     | Provide independent advice to the Committee, including the provision of market data, guidance on incentive plan design and legal/regulatory updates. |     |                                                                                                                                                                                                        |

The core activities of the People and Compensation Committee include:

• Recommending the total target compensation for the CEO of PG&E Corporation and