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

Company: PG&E Corp
Filing Date: 2025-06-24
Form: 11-K
Chunk 25
---
 Link Account                        |     | $                                               |   895,068 |     | $       |         — |     | $     |   895,068 |
| Money Market Fund                             |     |                                                 |   452,642 |     |         |         — |     |       |   452,642 |
| PG&E Corporation Stock Fund                   |     |                                                 |   415,957 |     |         |         — |     |       |   415,957 |
| Equity Funds                                  |     |                                                 |         — |     |         | 3,615,295 |     |       | 3,615,295 |
| Fixed Income Funds                            |     |                                                 |         — |     |         |   792,381 |     |       |   792,381 |
| Target Date Funds measured at NAV             |     |                                                 |         — |     |         |         — |     |       | 2,319,586 |
| Total Master Trust investments, at fair value |     | $                                               | 1,763,667 |     | $       | 4,407,676 |     | $     | 8,490,929 |

The fair value measurements incorporate various factors, such as the credit standing of the counterparties involved, the applicable exit market, and specific risks inherent in the financial instrument. As of December 31, 2024 and 2023, the following is a description of the valuation methodologies used for the financial instruments at fair value:

• Mutual funds offered to participants either through the brokerage link account or as direct investment options are valued based on unadjusted prices in active markets for identical transactions. The PG&E Corporation stock fund invests in PG&E stock. These investments are actively traded on a public exchange and are therefore considered Level 1 assets.

• The money market fund is a commingled fund of U.S. government short-term securities that are valued using unadjusted prices in an active market for identical assets and are therefore considered Level 1 assets.

<div align='center'>10</div>

• The equity funds and fixed income funds are stated at estimated fair value as determined by the issuer based on the unit values of the funds. Unit values are determined by dividing the fund’s net assets, which represent the unadjusted prices in active markets of the underlying investments, by the number of units outstanding at the valuation date. Equity funds and fixed income funds are maintained by investment companies for large institutional investors and are not publicly traded