Company: PCG-PB
Filing Date: 2025-06-24
Form Type: 11-K
Source: 0001004980-25-000121
Chunk: 9

Company: PG&E Corp
Filing Date: 2025-06-24
Form: 11-K
Chunk 9
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urchases and sales of securities are recorded on a trade date basis. Realized gains and losses from security transactions are reported on the average cost basis.

#### Notes Receivable from Participants
Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent notes receivable from participants are reclassified as distributions upon default.

#### Derivative Investments
Subject to certain guidelines, the EBC allows the plan investment managers to use derivative instruments to achieve investment objectives. During the years ended December 31, 2024 and 2023, the Plan and the Master Trust held no direct investments in derivative instruments.

#### Payment of Benefits
Benefit payments to participants are recorded upon distribution.

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#### NOTE 3: MASTER TRUST INVESTMENTS
The Plan’s investment funds are managed by the Trustee or an investment manager, who has discretionary investment authority over the funds. Investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the Statements of Net Assets Available for Benefits. The following tables present the Master Trust net assets and the Plan’s interest in the Master Trust net assets as of December 31, 2024 and 2023:

| (in thousands)                        |     | 2024         
 Master Trust |           |     | Plan Interest in the Master Trust |           |
|:--------------------------------------|:----|:-------------|----------:|:----|:----------------------------------|----------:|
| Equity Funds                          |     | $            | 3,704,541 |     | $                                 | 1,965,779 |
| Target Date Funds                     |     |              | 3,144,374 |     |                                   | 1,490,415 |
| PG&E Corporation Stock Fund           |     |              |   417,332 |     |                                   |   158,079 |
| Brokerage Link Accounts               |     |              | 1,118,299 |     |                                   |   559,488 |
| Fixed Income Funds                    |     |              |   821,995 |     |                                   |   416,391 |
| Money Market Fund                     |     |              |   433,050 |     |