Company: POR
Filing Date: 2025-03-05
Form Type: DEF 14A
Source: 0000784977-25-000055
Chunk: 18

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-03-05
Form: DEF 14A
Chunk 18
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 facing PGE. For more information on our long-term strategy, see page 4 of this Proxy Statement and our 2024 Annual Report.

| 2025 Proxy Statement |     | Portland General Electric|31 |

#### Item 1: Election of Directors

### RISK MANAGEMENT
The Board and its committees have broad responsibility for the oversight of significant strategic, operational, financial, reputational, emerging and environmental, social and governance risk, and actively review our Enterprise Risk Management program.

Management is responsible for day-to-day identification and management of risk. To ensure consistency and comprehensiveness in its approach, we have an Executive Risk Committee to oversee our risk management programs. A core function of the Executive Risk Committee is to sponsor enterprise-wide risk assessments, the results of which are used to inform our goals and strategic priorities for the next year. Key risk mitigations are included in our incentive programs as strategic goals. We have also established standing executive committees with responsibility for managing risks over defined areas and reporting as appropriate to the Executive Risk Committee or the Audit and Risk Committee. These include our Integrated Security, Operations, People and Strategy Executive Steering Committees. The Executive Risk Committee and the Audit and Risk Committee of the Board of Directors consider changes in the Company's strategy and in the overall risk landscape when determining the Company's top risks.

The Board is responsible for assessing whether management has put in place effective systems to identify, evaluate and manage the material risks facing PGE. The Board satisfies its oversight function through regular reporting from management on areas of material risk, including financial, strategic, operational, cybersecurity, environmental, legal and regulatory risks. Each quarter, management reports to the Audit and Risk Committee on the Enterprise Risk Management program's activities and findings related to reviews of top Company risks. At least annually, the Board and the Finance and Operations Committee also review corporate goals and approve capital budgets to align with PGE's strategy.

While the full Board has ultimate responsibility for oversight of risk management, each of the standing committees of the Board has been assigned a role in assisting the Board with its oversight responsibilities. Key risk areas overseen by the Board's committees are shown below:

| Committee            |     | Risk Oversight Responsibilities                                                                                                                                                                                                               |
| Audit and Risk       |     | •Oversees the activities of the Executive Risk Committee                                                                                                                                                                                      
 •Assists the Board in providing oversight of our Enterprise Risk Management Program including review of risks, mitigations and metrics                                                                                                        
 •Oversees key risks, including:                                                                                                                                                                                                               
 ◦Financial reporting and internal controls including the internal