Company: PCG-PB
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001004980-25-000073
Chunk: 66

Company: PG&E Corp
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 66
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(8) Includes one-time costs related to repositioning PG&E Corporation’s and the Utility’s operating model.

(9) Includes the IRS’ disallowance of deductions related to certain costs incurred for San Bruno gas explosion and implementation of the natural gas safe harbor method according to the revenue procedure issued by the IRS in 2023.

| (in millions)           |     | Twelve Months  Ended December 31, 2024 |      |      |
|:------------------------|:----|:---------------------------------------|-----:|-----:|
| San Bruno tax-related   |     |                                        |      |   70 |
| Gas revenue procedure   |     |                                        |      | -213 |
| Tax-related adjustments |     | $                                      | -143 |      |

(10) Includes costs associated with the 2019 Kincade fire, 2020 Zogg fire, and 2021 Dixie fire, net of recoveries, as shown below.

| (in millions)                               
 2019 Kincade third-party claims             |     | Twelve Months Ended December 31, 2024 | 100 |     |
|:--------------------------------------------|:----|--------------------------------------:|----:|----:|
| 2019 Kincade fire-related costs             |     |                                     $ |   7 |     |
| 2020 Zogg fire-related insurance recoveries |     |                                     $ |   1 |     |
| 2020 Zogg fire-related third party claims   |     |                                     $ |  -3 |     |
| 2021 Dixie fire-related legal settlements   |     |                                    17 |     |     |
| Wildfire-related costs, net of recoveries   |     |                                     $ | 123 |     |
| Tax impacts                                 |     |                                       |     | -34 |
| Wildfire-related costs, net of recoveries   |     |                                     $ |  89 |     |

(11) “Non-GAAP core earnings” is a non-GAAP financial measure.

Undefined, capitalized terms have the meanings set forth in the PG&E Corporation and the Utility’s joint Annual Report on Form 10-K for the year ended December 31, 2024.

“Non-GAAP core earnings” is a non-GAAP financial measure and is calculated as income available for common shareholders less non-core items. “Non-core items” include items that management does not consider representative of ongoing earnings and affect comparability of financial results between periods