Company: PCG-PB
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001004980-25-000073
Chunk: 64

Company: PG&E Corp
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 64
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 our shareholders. In reaching decisions on executive compensation, the People and Compensation Committee considers the tax and accounting consequences. Section 162(m) of the Internal Revenue Code does not permit companies to deduct certain qualified performance-based executive compensation. Despite the limits on the deductibility of performance-based compensation, the People and Compensation Committee continues to believe that a significant portion of NEO compensation should be tied to company performance.

PG&E Corporation | Pacific Gas and Electric Company 2025 Joint Proxy Statement 75

Exhibit A

Reconciliation of PG&E Corporation’s Consolidated Income Available for Common Shareholders in Accordance with GAAP to Non-GAAP Core Earnings.

For the year ended December 31, 2024.

|                                                         | (in millions, except per share amounts) | Earnings |  2024 |       |     | Earnings per Common 
 Share (Diluted)     |  2024 |
|:--------------------------------------------------------|:----------------------------------------|:---------|------:|------:|:----|:--------------------|------:|
| PG&E Corporation’s Earnings (Loss) on a GAAP basis      |                                         | $        | 2,475 |       |     | $                   |  1.15 |
| Non-core items:(1)                                      |                                         |          |       |       |     |                     |       |
| Amortization of Wildfire Fund contribution (2)          |                                         | $        |   276 |       |     | $                   |  0.13 |
| Bankruptcy and legal costs (3)                          |                                         | $        |    35 |       |     | $                   |  0.02 |
| Fire Victim Trust tax benefit net of securitization (4) |                                         | $        |    24 |       |     | $                   |  0.01 |
| Investigation remedies (5)                              |                                         | $        |    55 |       |     | $                   |  0.03 |
| Prior period net regulatory impact (6)                  |                                         | $        |    28 |       |     | $                   |  0.01 |
| StanPac settlement (7)                                  |                                         | $        |    84 |       |     | $                   |  0.04 |
| Strategic repositioning costs (7)                       |                                         |          |       |       |     | $                   |     — |
| Tax-related adjustments                                 |                                         |