Company: POR
Filing Date: 2025-07-25
Form Type: 424B5
Source: 0001140361-25-027363
Chunk: 45

Company: PORTLAND GENERAL ELECTRIC CO /OR/
Filing Date: 2025-07-25
Form: 424B5
Chunk 45
---
 |    1 |
| CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS             |     |    2 |
| PORTLAND GENERAL ELECTRIC COMPANY                                |     |    5 |
| RISK FACTORS                                                     |     |    6 |
| USE OF PROCEEDS                                                  |     |    7 |
| DESCRIPTION OF SECURITIES                                        |     |    8 |
| DESCRIPTION OF COMMON STOCK                                      |     |    9 |
| DESCRIPTION OF DEBT SECURITIES                                   |     |   12 |
| DESCRIPTION OF STOCK PURCHASE CONTRACTS AND STOCK PURCHASE UNITS |     |   14 |
| DESCRIPTION OF FIRST MORTGAGE BONDS                              |     |   15 |
| PLAN OF DISTRIBUTION                                             |     |   21 |
| WHERE YOU CAN FIND MORE INFORMATION                              |     |   22 |
| INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE                  |     |   23 |
| LEGAL MATTERS                                                    |     |   24 |
| EXPERTS                                                          |     |   24 |

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#### TABLE OF CONTENTS

### ABOUT THIS PROSPECTUS
This prospectus is part of an “automatic shelf” registration statement that we filed with the Securities and Exchange Commission (the SEC), as a “well-known seasoned issuer” as defined in Rule 405 under the Securities Act of 1933, as amended (the Securities Act). Under this shelf registration process, we may, from time to time, sell an indeterminate amount of any combination of the securities described in this prospectus in one or more offerings.

This prospectus may not be used to sell securities unless accompanied by a prospectus supplement. This prospectus provides you with a general description of the common stock, debt securities, stock purchase contracts, stock purchase units and first mortgage bonds that we may offer. Each time that securities are sold, a prospectus supplement containing specific information about the terms of that offering will be provided, including the specific amounts, prices and terms of the securities offered. The prospectus supplements may also add, update or change information contained in this prospectus. You should read both this prospectus and any prospectus supplement and any other offering material prepared by or on behalf of us for a specific offering of securities, together with the additional information described under the heading “Where You Can Find More Information” and “Incorporation of Certain Documents by Reference.”

This prospectus and any accompanying prospectus supplement do not contain all