Company: POR
Filing Date: 2025-03-05
Form Type: DEF 14A
Source: 0000784977-25-000055
Chunk: 38

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-03-05
Form: DEF 14A
Chunk 38
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    96,525 |     |                     |   225,225 |     |                           |   321,750 |

1. Assumes that the Company will perform at target levels over the PSU performance period. Values are based on the closing price of the Company’s common stock on the grant date. See “Grants of Plan-Based Awards” on page 70 for additional details.

2. Mr. McFarland's 2024 LTI award is based on his prorated base salary as of his hire date of July 1, 2024.

| 2025 Proxy Statement |     | Portland General Electric|57 |

#### Compensation Discussion and Analysis

#### 2024 PSU Awards
Our 2024 PSU Award Program incorporates the following financial, strategic and market-based performance measures.

### RATIONALE FOR LTI AWARDS DESIGN
| Metric           |     | Measurement                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |     | Why We Use this Metric                                                                                                                                                                                                                                                                                                                                                    |
| Return on Equity |     | The average of each of three consecutive years’ Accounting ROE as a percentage of Allowed ROE                                                                                                                                                                                                                                                                                                                                                                                                                                          
 •“Accounting ROE” is defined as annual net income, as shown on the Company’s income statement, divided by the average of the current and prior year’s shareholders’ equity, as shown on the balance sheet                                                                                                                                                                                                                                                                                                                              
 •“Allowed ROE” is the return on equity that the OPUC permits the Company to include in the rates it charges its customers                                                                                                                                                                                                                                                                                                                                                                                                              |     | Reflects how successful the Company is at generating a return on shareholders' investment. Because the Company’s return on its investment can fluctuate based on OPUC rate case orders, we believe the appropriate measure of our ability to generate earnings on shareholder investments is Accounting ROE as a percentage of Allowed ROE, consistent with SEC reporting |
| EPS Growth       |     | 3-year average of the Company’s EPS growth rate, where EPS growth for a given fiscal year is defined as the percentage change in EPS over the previous fiscal year                                                                                                                                                                                                                                                                                                                                                                     |     | Provides a direct measure of the rate at which the Company has increased its profitability. EPS is a driver of shareholder value creation                                                                                                                                                                                                                                 |
| Clean Energy     |     | Average megawatts of forecasted energy from carbon-free resources, Oregon Renewable Portfolios Standard-qualifying resources, and low-carbon emitting (i.e., > 95% carbon-free) systems of resources added to the Company’s energy supply portfolio during the performance period