PG&E Corporation 

a California Corporation, Debtor. 

Federal I.D.94-3234914 

Case No. 19 30088 

Post-confirmation Report – Q1’2023 

Part 1: b. Non-cash securities transferred – With regard to Part 1: b, On each of January 9, 2023 and 

April 11, 2023, the Fire Victim Trust exchanged 60,000,000 Plan Shares, for an equal number of New 

Shares in the manner contemplated by the Share Exchange and Tax Matters Agreement; the Fire Victim 

Trust thereafter reported that it sold the applicable New Shares. As of March 31, 2023, to the 

knowledge of PG&E Corporation, the Fire Victim Trust had sold 290,000,000 shares of PG&E Corporation 

common stock in the aggregate. The following are the non-cash securities transferred in connection with 

the implementation of the Plan. 

Security Type Issuance Description Aggregate Dollar Amount

PG&E Corporation Senior 

Secured Notes 

Senior Secured Notes issued 

pursuant to section 6.16 of the 

Plan and the Financing Approval 

Order [Docket No. 7909]

$2,000,000,000

PG&E Corporation Common 

Stock 

Shares sold to the underwriters 

pursuant to the Financing 

Approval Order 

$4,022,039,975

PG&E Corporation Common 

Stock 

Shares issued to the Fire Victim 

Trust pursuant to section 

4.26(a) of the Plan 

$4,307,266,430

PG&E Corporation Common 

Stock 

Backstop Premium Shares 

issued to the Backstop Parties 

pursuant to the Backstop 

Commitment Letters 

$1,074,570,144

PG&E Corporation Common 

Stock 

Additional Backstop Premium 

Shares issued to the Backstop 

Parties pursuant to the 

Financing Approval Order 

$451,500,000

PG&E Corporation Common 

Stock 

Shares sold to the PIPE 

Investors pursuant to the 

Financing Approval Order 

$3,249,999,979

PG&E Corporation Equity Units Equity units sold to the 

underwriters pursuant to the 

Financing Approval Order 

$1,454,545,500

PG&E Corporation Equity Units Over-allotment option equity 

units sold to the underwriters 

pursuant to the Financing 

Approval Order 

$145,454,500

Case: 19-30088 Doc# 13696-1 Filed: 05/04/23 Entered: 05/04/23 14:18:18 Page 1

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PG&E Corporation Common 

Stock 

Greenshoe Backstop Shares 

issued to the Backstop Parties 

pursuant to the Financing 

Approval Order 

$402,203,144

PG&E Corporation Common 

Stock 

Additional shares issued to the 

Fire Victim Trust pursuant to 

section 4.26(a) of the Plan. 

$6,810,576

TOTAL $17,114,390,250

Part 1: c. Other non-cash property transferred – With regard to Part 1: c, the Plan does not contemplate 

the transfer of any real property interests and all other transfers of property on account of Allowed 

Claims or Allowed Interests have been distributed in accordance with the Plan. 

Details of non-cash securities and other non-cash property transferred by the Reorganized Debtors 

other than in connection with implementation of the Plan are contained in their reports filed with the 

Securities and Exchange Commission. 

Part 2: Preconfirmation Professional Fees and Expenses – With regard to Part 2, the Professional fees 

are presented in this report based on which Debtor paid the underlying invoice, notwithstanding that 

professionals may have been retained on behalf of both Debtors. 

Part 2: a. Professional fees & expenses (bankruptcy) incurred by or on behalf of the debtor - Due to 

the large volume of professionals incurred by or on behalf of the Debtors, a consolidated number is 

presented. 

Part 2: b. Professional fees & expenses (nonbankruptcy) incurred by on behalf of the debtor - 

Consistent with the Debtors’ Monthly Operating Reports and Post-Confirmation Quarterly Reports filed 

throughout these cases, the Debtors have not reported fees for ordinary course professionals incurred 

by or on behalf of the Debtors. 

Part 3: Total Anticipated Payments Under Plan – With regard to Part 3, all allowed administrative, 

secured, and unsecured claims, once liquidated, will be paid in full with interest at the applicable rate in 

accordance with the Plan. The Reorganized Debtors’ review of asserted claims is ongoing and the total 

amount to be paid under the Plan cannot be determined at this time. By order of the Bankruptcy Court, 

the current deadline for PG&E Corporation and the Utility to object to claims is June 20, 2023. 

Part 3: a. Administrative claims - The Administrative claims presented (i.e. $0) do not include the 

professional fees set forth in Part 2. 

Part 4: a. Is this a final report? – With regard to Part 4: a, the anticipated date of filing an application for 

Final Decree is yet to be determined. 

Case: 19-30088 Doc# 13696-1 Filed: 05/04/23 Entered: 05/04/23 14:18:18 Page 2

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