Document:

EX-4.1

 Exhibit 4.1 

TO BE RECORDED AND WHEN 
 RECORDED RETURN TO: 

Hunton Andrews Kurth LLP 
 550 South Hope Street, Suite 2000 

Los Angeles, CA 90071 
 Attention: Robert M. Johnson, Esq. 

 
  

NINTH SUPPLEMENTAL INDENTURE 

Dated as of June 3, 2021 

SUPPLEMENT TO INDENTURE OF MORTGAGE 

Dated as of June 19, 2020 
  

 
 PACIFIC GAS
AND ELECTRIC COMPANY 
 ISSUER (MORTGAGOR) 

AND 
 THE BANK OF NEW
YORK MELLON TRUST COMPANY, N.A. 
 TRUSTEE (MORTGAGEE) 
  

 

 TABLE OF CONTENTS 

 

					
	 ARTICLE I DEFINITIONS
	  	 	1	 
		
	 ARTICLE II ESTABLISHMENT OF 3.000% FIRST MORTGAGE BONDS DUE 2028
	  	 	3	 
		
	 ARTICLE III AMENDMENT, SUPPLEMENT AND WAIVER
	  	 	5	 
		
	 ARTICLE IV COVENANTS
	  	 	5	 
		
	 ARTICLE V MISCELLANEOUS
	  	 	5	 

 EXHIBIT A FORM OF 3.000% FIRST MORTGAGE BOND DUE 2028 

SCHEDULE 1 MORTGAGE INDENTURE RECORDING INFORMATION 

  
 i 

 NINTH SUPPLEMENTAL INDENTURE, dated as of June 3, 2021 (this “Ninth
Supplemental Indenture”), by and between PACIFIC GAS AND ELECTRIC COMPANY, a California corporation (the “Company”), as Mortgagor, and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking
association, as Trustee under the Mortgage Indenture (as hereinafter defined) and Mortgagee (the “Trustee”). 
 RECITALS
OF THE COMPANY 
 A. The Company and the Trustee are parties to that certain Indenture of Mortgage, dated as of June 19, 2020
(together with all indentures supplemental thereto, the “Mortgage Indenture”), providing for the issuance by the Company of Bonds (as defined in the Mortgage Indenture) from time to time. 

B. Under the Mortgage Indenture, the Company is authorized to issue unlimited series of Bonds and establish one or more series of Bonds at any
time in accordance with the provisions of the Mortgage Indenture, and the terms of such series of Bonds may be described by a supplemental indenture executed by the Company and the Trustee. 

C. Pursuant to Section 3.01 of the Mortgage Indenture, the Company and the Trustee deem it advisable to enter into this Ninth Supplemental
Indenture for the purposes of establishing the terms of one series of Bonds. 
 D. The execution and delivery of this Ninth Supplemental
Indenture has been authorized by a Board Resolution (as defined in the Mortgage Indenture). 
 E. Concurrent with the execution hereof, the
Company has caused its counsel to deliver to the Trustee an Opinion of Counsel (as defined in the Mortgage Indenture) pursuant to Section 14.03 of the Mortgage Indenture. 

F. The Company has done all things necessary to make this Ninth Supplemental Indenture a valid agreement of the Company in accordance with its
terms. 
 NOW, THEREFORE, the Company and the Trustee agree, for the benefit of each other and the equal and proportionate benefit of all
Holders of the Bonds established hereby, as follows: 
 ARTICLE I 

DEFINITIONS 

Unless the context otherwise requires, capitalized terms used but not defined herein have the meaning set forth in the Mortgage Indenture.

 The words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Ninth
Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision. 

 The following additional definitions are hereby established for purposes of this Ninth
Supplemental Indenture and shall have the meanings set forth in this Ninth Supplemental Indenture only for purposes of this Ninth Supplemental Indenture: 

“Adjusted Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent
yield to maturity of the applicable Comparable Treasury Issue, assuming a price for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury Price for the Redemption Date. The
Adjusted Treasury Rate will be calculated on the third Business Day preceding the Redemption Date. 
 “Comparable Treasury
Issue” means, with respect to any Redemption Date, the United States Treasury security selected by the applicable Quotation Agent as having a maturity comparable to the remaining term of the 2028 Bonds to be redeemed (assuming, for such
purpose, that the 2028 Bonds matured on the Par Call Date (the “remaining term”)), that would be used, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the remaining term of such Bonds to be redeemed. 
 “Comparable Treasury Price” means, with respect
to any Redemption Date: 
  

	 	(1)	 the average of the Reference Treasury Dealer Quotations for that Redemption Date, after excluding the highest
and lowest of such Reference Treasury Dealer Quotations; or 

  

	 	(2)	 if the Quotation Agent obtains fewer than four of such Reference Treasury Dealer Quotations, the average of all
such Reference Treasury Dealer Quotations so received. 

 “DTC” means The Depository Trust Company. 

“Original Issue Date” means June 3, 2021. 

“Par Call Date” means April 15, 2028. 

“Quotation Agent” means the Reference Treasury Dealer appointed by the Company for a series of Bonds. 

“Redemption Price” means the price at which the 2028 Bonds may be redeemed pursuant to Section 208(a) or
Section 208(b) hereto, as applicable. 
 “Reference Treasury Dealer” means (1) each of Barclays Capital Inc.,
BofA Securities, Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC or their respective affiliates or successors and (2) one other primary treasury dealer in certain U.S. government securities selected by the Company. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the
average, as determined by the Company, of the bid and asked prices for the applicable Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by that Reference Treasury Dealer at
5:00 p.m., New York City time, on the third Business Day preceding that Redemption Date. 
  

  
 2 

 ARTICLE II 

ESTABLISHMENT OF 3.000% FIRST MORTGAGE BONDS DUE 2028 

SECTION 201 Establishment and Designation of the 2028 Bonds. 

Pursuant to the terms hereof and Section 3.01 and Article V of the Mortgage Indenture, the Company hereby establishes a fortieth series of
Bonds designated as the “3.000% First Mortgage Bonds due 2028” (“2028 Bonds”). The 2028 Bonds may be reopened, from time to time, for issuances of additional Bonds of such series subject to the terms of Article V of the
Mortgage Indenture, and any additional Bonds issued and comprising 2028 Bonds shall have identical terms as the 2028 Bonds, except that the issue price, issue date and, in some cases, the first Interest Payment Date may differ. 

SECTION 202 Form of 2028 Bonds. 
 The 2028
Bonds shall be issued in the form of one or more Global Bonds in substantially the form set forth in Exhibit A. 
 SECTION 203 Principal Amount. 

The 2028 Bonds shall be issued in an initial aggregate principal amount of $800,000,000. 

SECTION 204 Interest Rate; Stated Maturity; Minimum Denominations. 

The 2028 Bonds shall bear interest at the rate of 3.000% per annum and shall have a Stated Maturity of June 15, 2028. 

The 2028 Bonds are issuable in denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 

SECTION 205 No Sinking Fund. 
 No sinking
fund is provided for any of the 2028 Bonds. 
 SECTION 206 Paying Agent and Bond Registrar. 

The Trustee is hereby appointed as initial Paying Agent and initial Bond Registrar for the 2028 Bonds. The Place of Payment of the 2028 Bonds
shall be the Corporate Trust Office of the Trustee. 

  
 3 

 SECTION 207 Global Securities; Appointment of Depositary for Global Securities. 

The 2028 Bonds shall be issued in the form of one or more permanent Global Bonds as provided in Section 3.14 of the Mortgage Indenture and
deposited with, or on behalf of, the Depositary, or with the Trustee, as custodian for the Depositary, duly executed by the Company and authenticated by the Trustee. The Company hereby initially appoints DTC to act as the Depositary with respect to
all 2028 Bonds, and the 2028 Bonds shall initially be registered in the name of Cede & Co., as the nominee of DTC. 
 The Company
and DTC have executed a Blanket Letter of Representations, and the Trustee is hereby authorized, in connection with any successor nominee for DTC or any successor Depositary, to enter into appropriate or comparable arrangements, if necessary, and
shall have the same rights with respect to its actions thereunder as it has with respect to its actions under the Mortgage Indenture. 

None of the Company, the Trustee, any Paying Agent or any Bond Registrar will have any responsibility or liability for any aspect of
Depositary records relating to, or payments made on account of, beneficial ownership interests in a Global Bond or for maintaining, supervising or reviewing any Depositary records relating to such beneficial ownership interests, or for transfers of
beneficial interests in the 2028 Bonds or any transactions between the Depositary and beneficial owners. 
 SECTION 208 Optional Redemption. 

(a) Subject to the terms and conditions of the Mortgage Indenture, the 2028 Bonds are redeemable at the option of the Company, in whole or in
part at any time prior to the Par Call Date, at a Redemption Price equal to the greater of: 
 (i) 100% of the principal amount of the 2028
Bonds to be redeemed; or 
 (ii) as determined by the Quotation Agent, the sum of the present values of the remaining scheduled payments of
principal and interest on the 2028 Bonds to be redeemed that would be due if the 2028 Bonds matured on the Par Call Date (not including any portion of payments of interest accrued as of the Redemption Date), discounted to the Redemption Date on a
semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Adjusted Treasury Rate plus 30 basis points, 

plus, in either of the above cases, accrued and unpaid interest thereon to, but not including, the Redemption Date. 

(b) Subject to the terms and conditions of the Mortgage Indenture, at any time on or after the Par Call Date, the 2028 Bonds are redeemable at
the option of the Company in whole or in part, at a Redemption Price equal to 100% of the principal amount of the 2028 Bonds to be redeemed, plus accrued and unpaid interest thereon to, but not including, the Redemption Date. 

(c) The Redemption Price shall be calculated assuming a 360-day year consisting of twelve 30-day months. 

  
 4 

 (d) The Company shall calculate the Redemption Price for the redemption of any 2028 Bonds
pursuant to Section 208(a) or Section 208(b), and notify the Trustee and, on or before the applicable Redemption Date, deposit with the Trustee or Paying Agent sufficient funds to pay the applicable Redemption Price for the 2028 Bonds to
be redeemed on such Redemption Date. 
 (e) Notice of any redemption pursuant to Section 208(a) or Section 208(b) shall be given
(i) to Holders of the 2028 Bonds in the manner set forth in Section 6.04 of the Mortgage Indenture and by e-mail to the Depositary and (ii) to the Trustee in accordance with Section 6.02 of
the Mortgage Indenture. 
 SECTION 209 Other Terms of the 2028 Bonds. 

The other terms of the 2028 Bonds shall be as expressly set forth herein and in Exhibit A. 

ARTICLE III 

AMENDMENT, SUPPLEMENT AND WAIVER 

The Trustee and the Company may not modify, amend or supplement this Ninth Supplemental Indenture except as set forth in Article XIV of the
Mortgage Indenture as if (a) references in Article XIV to “this Indenture” and “hereto” are deemed to include the Ninth Supplemental Indenture, and (b) references to the Bonds of any series “Outstanding under this
Indenture” (or similar expressions and phrases) are deemed to refer only to the 2028 Bonds established hereby and no other Bonds. 

ARTICLE IV 

COVENANTS 
 Each of
the agreements and covenants of the Company contained in Article VII of the Mortgage Indenture shall apply to the 2028 Bonds established hereby as of the Original Issue Date. 

ARTICLE V 

MISCELLANEOUS 
 SECTION 501
Concerning the Trustee. 
 The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or
sufficiency of this Ninth Supplemental Indenture or the due execution hereof by the Company, or for or in respect of the recitals and statements contained herein, all of which recitals and statements are made solely by the Company. Except as herein
otherwise provided, no duties, responsibilities or liabilities are assumed, or shall be construed to be assumed, by the Trustee by reason of this Ninth Supplemental Indenture other than as set forth in the Mortgage Indenture; and this Ninth
Supplemental Indenture is executed and accepted on behalf of the Trustee, subject to all the terms and conditions set forth in the Mortgage Indenture, as fully to all intents as if the same were herein set forth at length. 

  
 5 

 SECTION 502 Application of Ninth Supplemental Indenture. 

Except as provided herein, each and every term and condition contained in this Ninth Supplemental Indenture that modifies, amends or
supplements the terms and conditions of the Mortgage Indenture shall apply only to the 2028 Bonds established hereby and not to any other series of Bonds established under the Mortgage Indenture. Except as specifically amended and supplemented by,
or to the extent inconsistent with, this Ninth Supplemental Indenture, the Mortgage Indenture shall remain in full force and effect and is hereby ratified and confirmed. 

SECTION 503 Headings. 
 The headings of
the several Articles of this Ninth Supplemental Indenture are inserted for convenience of reference, and shall not be deemed to be any part hereof. 

SECTION 504 Effective Date. 
 This Ninth
Supplemental Indenture shall be effective upon the execution and delivery hereof by each of the parties hereto. 
 SECTION 505 Counterparts. 

This Ninth Supplemental Indenture may be executed in any number of counterparts, and each of such counterparts shall together constitute but
one and the same instrument. Delivery of an executed Ninth Supplemental Indenture by one party to the other may be made by facsimile, electronic mail (including any electronic signature complying with the New York Electronic Signatures and Records
Act (N.Y. State Tech. §§ 301-309), as amended from time to time, or other applicable law) or other transmission method, and the parties hereto agree that any counterpart so delivered shall be deemed
to have been duly and validly delivered and be valid and effective for all purposes. 
 SECTION 506 Governing Law. 

The laws of the State of New York shall govern this Ninth Supplemental Indenture and the 2028 Bonds, without giving effect to applicable
principles of conflicts of law to the extent that the application of the laws of another jurisdiction would be required thereby. 
 SECTION 507
Severability. 
 In case any provision in this Ninth Supplemental Indenture or the 2028 Bonds shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 SECTION 508
Incorporation by Reference. 
 The terms of Schedule 1 attached hereto are incorporated herein and made a part hereof by this
reference. 

  
 6 

 IN WITNESS WHEREOF, the parties hereto have caused this Ninth Supplemental Indenture to be
duly executed as of the day and year first above written. 
  

			
	PACIFIC GAS AND ELECTRIC COMPANY, as Issuer (Mortgagor)
		
	By:	 	 /s/ Margaret K. Becker

	Name: Margaret K. Becker
	Title: Vice President and Treasurer
	
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee (Mortgagee)
		
	By:	 	 /s/ Nathan Turner

	Name: Nathan Turner
	Title: Vice President

	
	A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or validity of that document.

  

			
	 STATE OF CALIFORNIA
	  	}
		  	}
	 COUNTY OF SAN FRANCISCO
	  	 }

 On May 24, 2021, before me, Jolie F. Ocampo, a notary public, personally appeared Margaret K. Becker, who proved to me on
the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 
 I certify under PENALTY OF
PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. 
 WITNESS my hand and official seal. 

 

	
	 /s/ Jolie F. Ocampo

	 Signature

 (Seal) 

 
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which
this certificate is attached, and not the truthfulness, accuracy, or validity of that document. 

  

			
	 STATE OF FLORIDA
	  	}
		  	}
	 COUNTY OF DUVAL
	  	
                   
      }

 On June 1, 2021, before me, Xayyavone Gillmore, a notary public, personally appeared Nathan Turner, a Vice President of
The Bank of New York Mellon Trust Company, N.A., who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their
authorized capacity, and that by his/her/their signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument. 

WITNESS my hand and official seal. 
  

	
	 /s/ Xayyavone Gillmore

	 Signature

 (Seal) 

 EXHIBIT A 

[FORM OF 3.000% FIRST MORTGAGE BOND DUE 2028] 

[FORM OF FACE OF BOND] 
 THIS
BOND IS A GLOBAL BOND WITHIN THE MEANING OF THE MORTGAGE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY (AS DEFINED IN THE MORTGAGE INDENTURE) OR A NOMINEE THEREOF. THIS GLOBAL BOND IS EXCHANGEABLE FOR BONDS
REGISTERED IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR ITS NOMINEE ONLY IN LIMITED CIRCUMSTANCES DESCRIBED IN THE MORTGAGE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR BONDS IN CERTIFICATED FORM, THIS GLOBAL
BOND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR
DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY (AS DEFINED BELOW) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY BOND ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH
OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE
FOLLOWING SUMMARY OF TERMS IS SUBJECT TO THE INFORMATION SET FORTH ON THE REVERSE HEREOF: 
  

					
	 PRINCIPAL AMOUNT:
 $800,000,000
	  	 ORIGINAL ISSUE DATE:
 June 3, 2021
	  	 INTEREST RATE:
 3.000% per annum

			
	 MATURITY DATE:
 June 15, 2028
	  	 INTEREST PAYMENT DATES:
 June 15 and
December 15 of each year, commencing December 15, 2021
	  	 THIS BOND IS A:
 ☒ Global Book-Entry
Bond
 ☐ Certificated Bond

		
	REGISTERED OWNER: Cede & Co., as nominee of The Depository Trust Company	  	

  
 A-1 

 PACIFIC GAS AND ELECTRIC COMPANY 

3.000% FIRST MORTGAGE BOND DUE 2028 

(Fixed Rate) 
  

			
	 No. [•]
	  	 Principal Amount: $[•]

	 CUSIP [•]
	  	

 PACIFIC GAS AND ELECTRIC COMPANY, a corporation duly organized and existing under the laws of the State of
California (herein called the “Company,” which term includes any successor Person pursuant to the applicable provisions of the Mortgage Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co.,
as nominee for The Depository Trust Company, or registered assigns, the Principal Amount stated above on the Maturity Date stated above, and to pay interest thereon from and including the Original Issue Date stated above or, in the case of a 3.000%
First Mortgage Bond Due 2028 issued upon the registration of transfer or exchange, from and including the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on the Interest Payment Dates
set forth above and on the Maturity Date stated above at the rate of 3.000% per annum until the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date
will, as provided in such Mortgage Indenture, be paid to the Person in whose name this 3.000% First Mortgage Bond Due 2028 (this “Bond”) (or one or more Predecessor Bonds) is registered at the close of business on the Regular Record Date
for such interest, which shall be June 1 or December 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date; provided, however, that interest payable at the Maturity Date or on a Redemption Date
will be paid to the Person to whom principal is payable. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name
this Bond (or one or more Predecessor Bonds) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, as set forth in Section 3.07 of the Mortgage Indenture, notice
whereof shall be given to Holders of Bonds of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of the Mortgage Indenture and any securities
exchange, if any, on which the Bonds of this series may be listed, and upon such notice as may be required by any such exchange, all as more fully provided in said Mortgage Indenture. 

Payments of interest on this Bond will include interest accrued to but excluding the respective Interest Payment Dates. Interest payments for
this Bond shall be computed and paid on the basis of the 360-day year of twelve 30-day months. In the event that any date on which interest is payable on this Bond
(other than the Maturity Date) is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay) with the same
force and effect as if made on the date the payment was originally payable. If the Maturity Date falls on a day that is not a Business Day, the payment of principal, premium, if any, and interest may be made on the next succeeding Business Day, and
no interest on such payment shall accrue for the period from and after maturity. 
  

  
 A-2 

 Payment of principal of, premium, if any, and interest on the Bonds of this series shall be
made in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. Payments of principal of, premium, if any, and interest on the Bonds of this series represented by a
Global Bond shall be made by wire transfer of immediately available funds to the Holder of such Global Bond, provided that, in the case of payments of principal and premium, if any, such Global Bond is first surrendered to the Paying Agent. If any
of the Bonds of this series are no longer represented by a Global Bond, (i) payments of principal, premium, if any, and interest due on the Maturity Date or on a Redemption Date of such Bonds shall be made at the office of the Paying Agent upon
surrender of such Bonds to the Paying Agent, and (ii) payments of interest shall be made, at the option of the Company, subject to such surrender where applicable, (A) by check mailed to the address of the Person entitled thereto as such
address shall appear in the Bond Register or (B) by wire transfer to registered Holders of at least $10,000,000 in principal amount of Bonds at such place and to such account at a banking institution in the United States as such Holders may
designate in writing to the Trustee at least sixteen (16) days prior to the date for payment. 
 REFERENCE IS HEREBY MADE TO THE
FURTHER PROVISIONS OF THIS BOND SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE. 

  
 A-3 

 Unless the certificate of authentication hereon has been executed by the Trustee referred to
on the reverse hereof by manual or electronic signature, this Bond shall not be entitled to any benefit under the Mortgage Indenture or be valid or obligatory for any purpose. 

IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

Dated: June 3, 2021 
  

			
	 PACIFIC GAS AND ELECTRIC COMPANY

		
	 By
	 	  

		 	 Name: David Thomason

		 	Title: Vice President, Chief Financial Officer and Controller
		
	 By
	 	  

		 	 Name: Margaret K. Becker

		 	 Title: Vice President and Treasurer

  
 A-4 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Bonds of the series designated as Bonds of the 3.000% First Mortgage Bonds due 2028 referred to in the within-mentioned
Mortgage Indenture. 
  

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	By:	 	
                 

		 	 Authorized Signatory

 Dated: June 3, 2021 

  
 A-5 

 [FORM OF REVERSE OF 3.000% FIRST MORTGAGE BOND DUE 2028] 

This 3.000% First Mortgage Bond due 2028 is one of a duly authorized issue of Bonds of the Company (the “Bonds”), issued and
issuable in one or more series under and equally secured by an Indenture of Mortgage, dated as of June 19, 2020 (such Mortgage Indenture as originally executed and delivered and as supplemented or amended from time to time thereafter, together
with any constituent instruments establishing the terms of particular Bonds, being herein called the “Mortgage Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee (herein called the
“Trustee”, which term includes any successor trustee under the Mortgage Indenture), and reference is hereby made to the Mortgage Indenture for a description of the property mortgaged, pledged and held in trust, the nature and extent
of the security and the respective rights, limitations of rights, duties and immunities of the Company, the Trustee and the Holders of Bonds thereunder and of the terms and conditions upon which Bonds are, and are to be, authenticated and delivered.
The acceptance of this Bond shall be deemed to constitute the consent and agreement by the Holder hereof to all of the terms and provisions of the Mortgage Indenture. 

The Company shall not be required to make any mandatory redemption or sinking fund payments with respect to the Bonds of this series. 

Subject to the terms and conditions of the Mortgage Indenture, the Bonds of this series are also redeemable at the option of the Company
(“Optional Redemption”), in whole or in part (a) at any time prior to April 15, 2028 (the “Par Call Date”) at a Redemption Price equal to the greater of: 

(i) 100% of the principal amount of the Bonds of this series to be redeemed; or 

(ii) as determined by the Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest on the
Bonds of this series to be redeemed that would be due if the Bonds of this series matured on the Par Call Date (not including any portion of payments of interest accrued as of the Redemption Date), discounted to the Redemption Date on a semi-annual
basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Adjusted Treasury Rate plus 30 basis points 

plus, in either of the above cases, accrued and unpaid interest thereon to, but not including, the Redemption Date; and (b) at any time on or after the
Par Call Date, in whole or in part, at a Redemption Price equal to 100% of the principal amount of the Bonds of this series to be redeemed, plus accrued and unpaid interest thereon to, but not including, the Redemption Date. 

For purposes of determining the Redemption Price, the following terms have the following meanings: 

“Adjusted Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent
yield to maturity of the applicable Comparable Treasury Issue, assuming a price for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury Price for the Redemption Date. The
Adjusted Treasury Rate will be calculated on the third Business Day preceding the Redemption Date. 

  
 A-6 

 “Comparable Treasury Issue” means, with respect to any Redemption Date, the
United States Treasury security selected by the applicable Quotation Agent as having a maturity comparable to the remaining term of the 2028 Bonds of this series to be redeemed (assuming, for such purpose, that the Bonds of this series matured on
the Par Call Date (the “remaining term”)), that would be used, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of
such series of Bonds to be redeemed. 
 “Comparable Treasury Price” means, with respect to any Redemption Date: 

 

	 	(1)	 the average of the Reference Treasury Dealer Quotations for that Redemption Date, after excluding the highest
and lowest of such Reference Treasury Dealer Quotations; or 

  

	 	(2)	 if the Quotation Agent obtains fewer than four of such Reference Treasury Dealer Quotations, the average of all
such Reference Treasury Dealer Quotations so received. 

 “Quotation Agent” means the Reference Treasury
Dealer appointed by the Company for the Bonds of this series. 
 “Reference Treasury Dealer” means (1) each of
Barclays Capital Inc., BofA Securities, Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC or their respective affiliates or successors and (2) one other primary treasury dealer in certain U.S. government securities selected
by the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any
Redemption Date, the average, as determined by the Company, of the bid and asked prices for the applicable Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by that Reference
Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding that Redemption Date. 
 Interest installments whose
Stated Maturity is on or prior to such Redemption Date will be payable to Holders of such Bonds of this series, or one or more Predecessor Bonds, of record at the close of business on the relevant Record Dates referred to on the face hereof, all as
provided in the Mortgage Indenture. 
 In the case of an Optional Redemption, notice of redemption will be sent not less than 10 days nor
more than 60 days prior to the Redemption Date to each Holder of Bonds of this series to be redeemed. If money sufficient to pay the Redemption Price of all Bonds of this series (or portions thereof) to be redeemed on the Redemption Date is
deposited with the Paying Agent or the Trustee on or prior to the Redemption Date, from and after such Redemption Date such Bonds of this series or portions thereof shall cease to bear interest. The Bonds of this series in denominations larger than
$2,000 in principal amount may be redeemed in part but only in integral multiples of $1,000. 
 In the event of redemption of this Bond in
part only, a new Bond or Bonds of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the surrender hereof. 

  
 A-7 

 As provided in the Mortgage Indenture and subject to certain limitations therein set forth,
this Bond or any portion of the principal amount hereof will be deemed to have been paid for all purposes of the Mortgage Indenture and to be no longer Outstanding thereunder, and the Company’s entire indebtedness in respect thereof will be
satisfied and discharged, if there has been irrevocably deposited with the Trustee or any Paying Agent (other than the Company), in trust, money in an amount which will be sufficient and/or Eligible Obligations, the principal of and interest on
which when due, without regard to any reinvestment thereof, will provide moneys which, together with money, if any, deposited with or held by the Trustee or such Paying Agent, will be sufficient to pay when due the principal of and premium, if any,
and interest on this Bond when due. 
 If an Event of Default shall occur and be continuing as provided in the Mortgage Indenture, the
Trustee or the Holders of not less than 25% in aggregate principal amount of Bonds then Outstanding, considered as one class, may declare the principal amount of all Bonds then Outstanding to be due and payable immediately by notice in writing to
the Company (and to the Trustee if given by Holders); provided, however, that with respect to certain Events of Default relating to bankruptcy, insolvency and similar events, the principal amount of all Bonds then Outstanding shall be
due and payable immediately without further action by the Trustee or the Holders. 
 The Mortgage Indenture permits, with certain exceptions
as therein provided, the Company and the Trustee to enter into one or more supplemental indentures for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, the Mortgage Indenture with the
consent of the Holders of not less than a majority in aggregate principal amount of the Bonds at the time Outstanding, considered as one class; provided, however, that if there shall be Bonds of more than one series Outstanding under
the Mortgage Indenture and if a proposed supplemental indenture shall directly affect the rights of the Holders of Bonds of one or more, but less than all, of such series, then the consent only of the Holders of a majority in aggregate principal
amount of the Outstanding Bonds of all series so directly affected, considered as one class, shall be required; and provided, further, that if the Bonds of any series shall have been issued in more than one Tranche and if a proposed
supplemental indenture shall directly affect the rights of the Holders of Bonds of one or more, but less than all, of such Tranches, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of all
Tranches so directly affected, considered as one class, shall be required; and provided, further, that the Mortgage Indenture permits the Company and the Trustee to enter into one or more supplemental indentures for certain purposes
without the consent of any Holders of Bonds. The Mortgage Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of Bonds, on behalf of the Holders of all such Bonds, to waive certain past defaults
under the Mortgage Indenture and their consequences. Any such consent or waiver by the Holder of this Bond shall be conclusive and binding upon such Holder and upon all future Holders of this Bond and of any Bond issued upon the registration of
transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Bond. 
 As
provided in and subject to the provisions of the Mortgage Indenture, the Holder of this Bond shall not have the right to institute any proceeding with respect to the Mortgage Indenture or for the appointment of a receiver or trustee or for any other
remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default, the 

  
 A-8 

 
Holders of at least 25% in aggregate principal amount of the Bonds at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of
Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of at least a majority in aggregate principal amount of Bonds at the time Outstanding a direction inconsistent with such
written request, and shall have failed to institute any such proceeding for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Bond for the enforcement of
any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 
 No reference
herein to the Mortgage Indenture and no provision of this Bond or of the Mortgage Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Bond
at the times, place and rate, and in the coin or currency, herein prescribed. 
 As provided in the Mortgage Indenture and subject to
certain limitations therein set forth, the transfer of this Bond is registrable in the Bond Register, upon surrender of this Bond for registration of transfer at the office or agency of the Company in any place where the principal of and any premium
and interest on this Bond are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company, the Trustee or the Bond Registrar, as the case may be, duly executed by the Holder hereof or such
Holder’s attorney duly authorized in writing, and thereupon one or more new Bonds of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or
transferees. 
 The Bonds of this series are issuable only in registered form without coupons in denominations of $2,000 and any integral
multiple of $1,000 in excess thereof. As provided in the Mortgage Indenture and subject to certain limitations therein set forth, Bonds of this series are exchangeable for a like aggregate principal amount of Bonds of this series and of like tenor
of a different authorized denomination, as requested by the Holders surrendering the same. 
 No service charge shall be made for any such
registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

The Company shall not be required to execute or to provide for the registration of the transfer of or the exchange of (A) any Bond of
this series during a period of 15 days immediately preceding the date notice is to be given identifying the serial numbers (or with respect to Global Bonds, CUSIP numbers) of the Bonds of this series called for redemption, or (B) any Bond of
this series selected for redemption in whole or in part, except the unredeemed portion of any Bond of this series being redeemed in part. 

Prior to due presentment of this Bond for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may
treat the Person in whose name this Bond is registered as the owner hereof for all purposes, whether or not this Bond is overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

  
 A-9 

 This Bond shall be governed by, and construed and enforced in accordance with, the laws of
the State of New York without regard to the principles of conflicts of laws thereunder, except to the extent that the Trust Indenture Act shall be applicable. 

As provided in the Mortgage Indenture, no recourse shall be had for the payment of the principal of, premium, if any, or interest with respect
to this Bond, or any part thereof, or for any claim based hereon or otherwise in respect hereof, or of the indebtedness represented hereby, or upon any obligation, covenant or agreement under the Mortgage Indenture, against any incorporator,
shareholder, officer or director, as such, past, present or future, of the Company or of any predecessor or successor corporation (either directly or through the Company or a predecessor or successor corporation), whether by virtue of any
constitutional provision, statute or rule of law or by the enforcement of any assessment or penalty or otherwise; it being expressly agreed and understood that the Mortgage Indenture and all the Bonds are solely corporate obligations and that any
such personal liability is hereby expressly waived and released as a condition of, and as part of the consideration for, the execution of the Mortgage Indenture and the issuance of this Bond. 

All terms used in this Bond which are not defined herein shall have the meanings assigned to them in the Mortgage Indenture. 

  
 A-10 

 ASSIGNMENT FORM 

To assign this Bond, fill in the form below: (I) or (we) assign and transfer this Bond to __________ 

 
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
  

 
 (Print or type assignee’s name, address and zip
code) 
 and irrevocably appoint ___________________________________________________________________ 

to transfer this Bond on the books of the Company. The agent may substitute another to act for him. 

Date: ___________ 
  

	
	 Your signature: _________________________

	(Sign exactly as your name appears on the face of this Bond)
	
	Tax Identification No.:
	
	 SIGNATURE GUARANTEE:

	
	  
 Signatures must be guaranteed by
an “eligible guarantor institution” meeting the requirements of the Bond Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other
“signature guarantee program” as may be determined by the Bond Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.

  
 A-11 

 SCHEDULE 1 

RECORDING INFORMATION 
 This
Schedule 1 is hereby incorporated into and made a part of the Ninth Supplemental Indenture. The Ninth Supplemental Indenture (or a memorandum describing such Ninth Supplemental Indenture) shall be recorded in the Official Records of the
County (as defined above) in order to put third parties on record notice with respect thereto. 
 The Mortgage Indenture was initially
recorded in the Official Records of the County on the applicable recording dates and at the applicable instrument numbers set forth in column A below. 

The Memorandum of Supplemental First Mortgage Indentures, dated as of August 12, 2020 (the “Memorandum”) was
recorded in the Official Records of the County on the applicable recording dates and at the applicable instrument numbers set forth in column B below. 

Certain parcels of real property located in certain counties have been released from the lien of the Mortgage Indenture, as set forth in the
Partial Release (as defined below). To the extent applicable, the Certificate of Partial Release of Lien, dated as of December 15, 2020 (the “Partial Release”) was recorded in the Official Records of the County
on the applicable recording dates and at the applicable instrument numbers set forth in column C below. 
 The Seventh Supplemental
Indenture, dated as of November 16, 2020 (the “Seventh Supplemental Indenture”) was recorded in the Official Records of the County on the applicable recording dates and at the applicable instrument numbers set forth
in column D below. 
  

									
	 	 	 A
	 	 B
	 	 C
	 	 D

	 County
	 	 Recording Date &
Instrument Number

(Indenture of Mortgage,
dated as of
June 19,
2020)
	 	 Recording Date &
Instrument Number

(Memorandum of
Supplemental First
Mortgage Indentures,
dated as
of
August 12, 2020)
	 	 Recording Date &
Instrument Number

(Certificate of Partial
Release of Lien,
dated as
of
December 15, 2020)
	 	 Recording Date
& Instrument
Number

(Seventh
Supplemental
Indenture, dated
as of November
16, 2020)

	Alameda	 	 Date: 7/8/2020

Instrument: 2020159002
	 	 Date: 8/19/2020

Instrument:
2020203390
	 	—	 	 Date: 3/8/2021

Instrument:
2021094794

					
	Alpine	 	 Date: 7/8/2020

Instrument: Ins.000313
	 	 Date: 8/21/2020

Instrument:
2020000409
	 	—	 	 Date: 2/26/2021

Instrument:
2021-000224

					
	Amador	 	 Date: 7/7/2020

Instrument: 2020-0005302
	 	 Date: 8/19/2020

Instrument: 2020-0006984-00
	 	—	 	 Date: 3/8/2021

Instrument: 20210002728

  
 Sch. 1-1 

									
	 	 	 A
	 	 B
	 	 C
	 	 D

	 County
	 	 Recording Date &
Instrument Number

(Indenture of Mortgage,
dated as of
June 19,
2020)
	 	 Recording Date &
Instrument Number

(Memorandum of
Supplemental First
Mortgage Indentures,
dated as
of
August 12, 2020)
	 	 Recording Date &
Instrument Number

(Certificate of Partial
Release of Lien,
dated as
of
December 15, 2020)
	 	 Recording Date
& Instrument
Number

(Seventh
Supplemental
Indenture, dated
as of November
16, 2020)

	Butte	 	 Date: 7/7/2020

Instrument: 2020-0026656
	 	 Date: 8/19/2020

Instrument: 2020-0033263
	 	—	 	 Date: 2/24/2021

Instrument: 2021-0008993

					
	Calaveras	 	 Date: 7/7/2020

Instrument: 2020-008603
	 	 Date: 8/19/2020

Instrument:
2020-011334
	 	—	 	 Date: 2/24/2021

Instrument: 2021-
003707

					
	Colusa	 	 Date: 7/13/2020

Instrument: 2020-0002012
	 	 Date: 8/19/2020

Instrument: 2020-0002404
	 	—	 	 Date: 2/25/2021

Instrument: 2021-0000922

					
	Contra Costa	 	 Date: 7/10/2020

Instrument: 2020-0137967-00
	 	 Date: 8/24/2020

Instrument: 2020-0179597
	 	—	 	 Date: 3/8/2021

Instrument: 2021-0068856

					
	El Dorado	 	 Date: 7/7/2020

Instrument: 2020-0033173-00
	 	 Date: 8/19/2020

Instrument: 2020-0042892-00
	 	—	 	 Date: 3/4/2021

Instrument: 2021-0014976

					
	Fresno	 	 Date: 7/7/2020

Instrument: 2020-0084490
	 	 Date: 8/20/2020

Instrument: 2020-0108156
	 	—	 	 Date: 2/24/2021

Instrument: 2021-0031297

					
	Glenn	 	 Date: 7/8/2020

Instrument:
2020-2622
	 	 Date: 8/25/2020

Instrument:
2020-3320
	 	—	 	 Date: 2/25/2021

Instrument:
2021-0901

					
	Humboldt	 	 Date: 7/14/2020

Instrument: 2020-011590
	 	 Date: 8/24/2020

Instrument:
2020-014544
	 	—	 	 Date: 3/5/2021

Instrument:
2021005120

					
	Kern	 	 Date: 7/7/2020

Instrument:
220088046
	 	 Date: 8/19/2020

Instrument:
220113312
	 	 Date: 12/29/2020

Instrument: 220202055
	 	 Date: 2/24/2021

Instrument:
221034332

					
	Kings	 	 Date: 7/7/2020

Instrument:
2011843
	 	 Date: 8/21/2020

Instrument: 2015093
	 	—	 	 Date: 2/24/2021

Instrument:
2104019

					
	Lake	 	 Date: 7/7/2020

Instrument: 2020008082
	 	 Date: 8/19/2020

Instrument:
2020010193
	 	—	 	 Date: 2/24/2021

Instrument:
2021003293

					
	Lassen	 	 Date: 7/8/2020

Instrument:
2020-02654
	 	 Date: 8/20/2020

Instrument:
2020-03389
	 	—	 	 Date: 2/25/2021

Instrument:
2021-00982

  
 Sch. 1-2 

									
	 	 	 A
	 	 B
	 	 C
	 	 D

	 County
	 	 Recording Date &
Instrument Number

(Indenture of Mortgage,
dated as of
June 19,
2020)
	 	 Recording Date &
Instrument Number

(Memorandum of
Supplemental First
Mortgage Indentures,
dated as
of
August 12, 2020)
	 	 Recording Date &
Instrument Number

(Certificate of Partial
Release of Lien,
dated as
of
December 15, 2020)
	 	 Recording Date
& Instrument
Number

(Seventh
Supplemental
Indenture, dated
as of November
16, 2020)

	Madera	 	 Date: 7/7/2020

Instrument: 2020015446
	 	 Date: 8/19/2020

Instrument:
2020019584
	 	—	 	 Date: 3/9/2021

Instrument:
2021007361

					
	Marin	 	 Date: 7/7/2020

Instrument: 2020-0028741
	 	 Date: 8/19/2020

Instrument: 2020-0037600
	 	—	 	 Date: 2/24/2021

Instrument: 2021-0013112

					
	Mariposa	 	 Date: 7/7/2020

Instrument:
20202190
	 	 Date: 8/20/2020

Instrument:
20202821
	 	—	 	 Date: 3/4/2021

Instrument:
20211080

					
	Mendocino	 	 Date: 7/7/2020

Instrument:
202007917
	 	 Date: 8/19/2020

Instrument: 2020-
10112
	 	—	 	 Date: 2/24/2021

Instrument:
2021-02892

					
	Merced	 	 Date: 7/7/2020

Instrument: 2020022266
	 	 Date: 8/19/2020

Instrument: 2020028493
	 	—	 	 Date: 2/24/2021

Instrument:
2021008602

					
	Modoc	 	 Date: 7/7/2020

Instrument: 20200001804
	 	 Date: 8/19/2020

Instrument: 20200002135
	 	—	 	 Date: 2/24/2021

Instrument: 20210000422

					
	Monterey	 	 Date: 7/7/2020

Instrument: 2020032685
	 	 Date: 8/19/2020

Instrument:
2020042185
	 	—	 	 Date: 2/24/2021

Instrument:
2021014097

					
	Napa	 	 Date: 7/7/2020

Instrument: 2020-0016006
	 	 Date: 8/20/2020

Instrument: 2020-0020526
	 	—	 	 Date: 3/4/2021

Instrument: 2021-0008728

					
	Nevada	 	 Date: 7/7/2020

Instrument: 20200015164
	 	 Date: 8/25/2020

Instrument: 20200020840
	 	—	 	 Date: 3/4/2021

Instrument: 20210007838

					
	Placer	 	 Date: 7/7/2020

Instrument: 2020-0067740
	 	 Date: 8/19/2020

Instrument: 2020-0087937-00
	 	—	 	 Date: 2/24/2021

Instrument: 2021-0026083-00

					
	Plumas	 	 Date: 7/9/2020

Instrument: 2020-0003422
	 	 Date: 8/20/2020

Instrument: 2020-0004742
	 	—	 	 Date: 3/11/2021

Instrument: 2021-0001758

					
	Sacramento	 	 Date: 7/7/2020

Instrument: Ins-202007071055
	 	 Date: 8/19/2020

Instrument: 202008190892
	 	—	 	 Date: 2/24/2021

Instrument: 202102241076

  
 Sch. 1-3 

									
	 	 	 A
	 	 B
	 	 C
	 	 D

	 County
	 	 Recording Date &
Instrument Number

(Indenture of Mortgage,
dated as of
June 19,
2020)
	 	 Recording Date &
Instrument Number

(Memorandum of
Supplemental First
Mortgage Indentures,
dated as
of
August 12, 2020)
	 	 Recording Date &
Instrument Number

(Certificate of Partial
Release of Lien,
dated as
of
December 15, 2020)
	 	 Recording Date
& Instrument
Number

(Seventh
Supplemental
Indenture, dated
as of November
16, 2020)

	San Benito	 	 Date: 7/7/2020

Instrument: 2020-0007874
	 	 Date: 8/19/2020

Instrument: 2020-0010072
	 	—	 	 Date: 3/4/2021

Instrument: 2021-0003400

					
	San Bernardino	 	 Date: 7/7/2020

Instrument: 2020-0226134
	 	 Date: 8/19/2020

Instrument: 2020-0294961
	 	—	 	 Date: 2/24/2021

Instrument: 2021-0087782

					
	San Francisco	 	 Date: 7/7/2020

Instrument: 2020-K949017-00
	 	 Date: 8/19/2020

Instrument: 2020006126
	 	—	 	 Date: 2/24/2021

Instrument:
2021036477

					
	San Joaquin	 	 Date: 7/7/2020

Instrument: 2020-080390
	 	 Date: 8/19/2020

Instrument: 2020-103840
	 	—	 	 Date: 2/24/2021

Instrument: 2021-
033997

					
	San Luis Obispo	 	 Date: 7/7/2020

Instrument: 2020033897
	 	 Date: 8/19/2020

Instrument: 2020043805
	 	 Date: 3/5/2021

Instrument: 2021017044
	 	 Date: 3/8/2021

Instrument: 2021017458

					
	San Mateo	 	 Date: 7/7/2020

Instrument: 2020064008
	 	 Date: 8/21/2020

Instrument: 2020-084135
	 	—	 	 Date: 2/24/2021

Instrument: 2021-
030961

					
	Santa Barbara	 	 Date: 7/13/2020

Instrument: 2020-0034969
	 	 Date: 8/19/2020

Instrument: 2020-0043690
	 	—	 	 Date: 2/24/2021

Instrument: 2021-0014736

					
	Santa Clara	 	 Date: 7/7/2020

Instrument: 24528422
	 	 Date: 8/19/2020

Instrument: 24580344
	 	—	 	 Date: 2/24/2021

Instrument:
24845255

					
	Santa Cruz	 	 Date: 7/7/2020

Instrument: 2020-0024403
	 	 Date: 8/19/2020

Instrument: 2020-0031634
	 	—	 	 Date: 2/24/2021

Instrument: 2021-0011369

					
	Shasta	 	 Date: 7/7/2020

Instrument: 2020-0021039
	 	 Date: 8/19/2020

Instrument: 2020-0027008
	 	 Date: 12/29/2020

Instrument: 2020-0047326
	 	 Date: 2/24/2021

Instrument: 2021-0007584

					
	Sierra	 	 Date: 7/9/2020

Instrument: 2020171226
	 	 Date: 8/20/2020

Instrument: 2020171540
	 	—	 	 Date: 2/25/2021

Instrument:
2020172589

					
	Solano	 	 Date: 7/7/2020

Instrument: Ins-202000054277
	 	 Date: 8/19/2020

Instrument: 202000069597
	 	—	 	 Date: 2/24/2021

Instrument: 202100021149

  
 Sch. 1-4 

									
	 	 	 A
	 	 B
	 	 C
	 	 D

	 County
	 	 Recording Date &
Instrument Number

(Indenture of Mortgage,
dated as of
June 19,
2020)
	 	 Recording Date &
Instrument Number

(Memorandum of
Supplemental First
Mortgage Indentures,
dated as
of
August 12, 2020)
	 	 Recording Date &
Instrument Number

(Certificate of Partial
Release of Lien,
dated as
of
December 15, 2020)
	 	 Recording Date
& Instrument
Number

(Seventh
Supplemental
Indenture, dated
as of November
16, 2020)

	Sonoma	 	 Date: 7/9/2020

Instrument: 2020055917
	 	 Date: 8/19/2020

Instrument:
2020070874
	 	—  	 	 Date: 2/24/2021

Instrument:
2021021837

					
	Stanislaus	 	 Date: 7/8/2020

Instrument: 2020-0047771
	 	 Date: 8/19/2020

Instrument: 2020-0061515-00
	 	—	 	 Date: 2/24/2021

Instrument: 2021-0017942-00

					
	Sutter	 	 Date: 7/8/2020

Instrument: 2020-0009800
	 	 Date: 8/19/2020

Instrument: 2020-0012784
	 	—	 	 Date: 2/24/2021

Instrument: 20210003735

					
	Tehama	 	 Date: 7/7/2020

Instrument: 2020007674
	 	 Date: 8/19/2020

Instrument:
2020009820
	 	—	 	 Date: 2/24/2021

Instrument:
2021002378

					
	Trinity	 	 Date: 7/8/2020

Instrument: 202002224
	 	 Date: 8/20/2020

Instrument:
202002748
	 	—	 	 Date: 2/25/2021

Instrument:
202100581

					
	Tulare	 	 Date: 7/7/2020

Instrument: 2020-0039416
	 	 Date: 8/26/2020

Instrument: 2020-0049011
	 	—	 	 Date: 3/2/2021

Instrument: 2021-0015218

					
	Tuolumne	 	 Date: 7/7/2020

Instrument: 2020007628
	 	 Date: 8/19/2020

Instrument:
2020009759
	 	—	 	 Date: 3/2/2021

Instrument:
2021003503

					
	Yolo	 	 Date: 7/8/2020

Instrument: 2020-0020467
	 	 Date: 8/19/2020

Instrument: 2020-0026550
	 		 	 Date: 3/8/2021

Instrument: 2021-0009289

					
	Yuba	 	 Date: 7/8/2020

Instrument: 2020-010218
	 	 Date: 8/19/2020

Instrument: 2020-
012939
	 	—	 	 Date: 2/24/2021

Instrument: 2021-
003119

  
 Sch. 1-5EX-10.1

 Exhibit 10.1 

PENNSYLVANIA REAL ESTATE INVESTMENT TRUST 

AMENDED AND RESTATED 2018 EQUITY INCENTIVE PLAN 

2021 RESTRICTED SHARE UNIT AND DIVIDEND EQUIVALENT RIGHTS 

AWARD NOTICE 
 This RESTRICTED
SHARE UNIT AND DIVIDEND EQUIVALENT RIGHTS AWARD NOTICE (this “Award Notice”) is effective on the 28th day of May, 2021 and is made by Pennsylvania Real Estate Investment Trust, a Pennsylvania business trust (the “Trust”) to
                     (the “Grantee”), a “Non-Employee Trustee” as defined in the
Pennsylvania Real Estate Investment Trust Amended and Restated 2018 Equity Incentive Plan (the “Plan”). Any capitalized term used in this Award Notice that is not separately defined herein shall have the meaning set forth in the Plan. 

WHEREAS, the Trust desires to award the Grantee Restricted Share Units, as well as dividend equivalent rights or “DERs” with respect
to such Restricted Share Units subject to certain restrictions as hereinafter provided, in accordance with the provisions of the Plan; 

WHEREAS, DERs awarded with respect to Restricted Share Units will be expressed as a dollar amount, which will be applied to
“purchase” additional Restricted Share Units (on which DERs will also be awarded). 
 NOW THEREFORE, in consideration of the
mutual covenants hereinafter set forth and for other good and valuable consideration, the legal sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 

1.    Award of RSUs. 

(a)    RSU Base Units. The Grantee is hereby awarded a number of “RSU Base Units”
initially equal to                      Restricted Share Units. 

(b)    DERs Included. Each RSU Base Unit will also include a DER. If the Trust pays a cash dividend
on its Shares while the RSU Base Units are outstanding, the Grantee will be credited with a number of additional Restricted Share Units equal to (1) the product of (i) dollar amount of dividends paid on one actual Share on the applicable
dividend payment date (the “Dividend Date”), multiplied by (ii) the Grantee’s outstanding RSU Base Units as of the Dividend Date, divided by (2) the Share Value. Any additional RSU Base Units credited in accordance with this
paragraph will be subject to the same vesting, payment and other terms and conditions as the original RSU Base Units to which they relate. Such additional RSU Base Units will also include DERs, which will be applied in the same manner (thereby
increasing the Grantee’s RSU Base Units on a cumulative basis). 
 (c)    This grant is in all
respects limited and conditioned as hereinafter provided, and is subject in all respects to the terms and conditions of the Plan now in effect and as it may be amended from time to time; provided, that no amendment may adversely affect the terms
established by this Award Notice without the written consent of the Grantee. 

 2.    Vesting. 

(a)    Vesting. The Grantee shall vest in the RSU Base Units on May 28, 2022 (or if the Shares
do not trade on that date, then as of the first trading date thereafter) (the “RSU Vesting Date”) provided that the Grantee is providing services to the Trust as a Non-Employee Trustee on the RSU
Vesting Date. Notwithstanding the foregoing, the vesting of the RSU Base Units will fully accelerate, upon the termination of the Grantee’s service as a Non-Employee Trustee as a result of the death or
Disability (as defined in the Plan) of the Grantee. 
 (b)    Accelerated Vesting Upon Change in
Control. All unvested Restricted Shares awarded to the Grantee shall become fully vested upon a Change in Control (as defined in the Plan) provided that the Grantee is providing services to the Trust as a
Non-Employee Trustee immediately prior to the Change in Control. 

3.    Termination of Service. Except as the Board may otherwise provide in its discretion, upon termination of the
Grantee’s service as a Non-Employee Trustee for any reason other than the Grantee’s death or Disability (as defined in the Plan), all unvested Base RSUs that are held by the Grantee at the time of
such a termination of service shall be forfeited by the Grantee. 
 4.    Settlement of Base RSUs. As soon as
practicable after the RSU Vesting Date, the Trust shall transfer to the Grantee one Share for each Base RSU becoming vested on such date (the date of any such transfer shall be the “settlement date” for purposes of this Award). The Grantee
shall have no rights as a shareholder with respect to the Base RSUs awarded hereunder prior to the date of issuance to the Grantee of a certificate or certificates for such shares. Notwithstanding the foregoing, the Committee, in its sole
discretion, may elect to settle Base RSUs in cash based on the Fair Market Value of a Share on the RSU Vesting Date. 

5.     Share Delivery. Shares delivered pursuant to this Award Notice shall be registered in the Grantee’s
name (or, if the Grantee so requests, in the name of the Grantee and the Grantee’s spouse, jointly with right of survivorship). 

6.    No Rights as a Shareholder. The Grantee shall not have any rights as a shareholder with respect to any Shares
subject to the Base RSUs awarded under this Award Notice prior to the date of issuance to the Grantee of a certificate or certificates for such Shares. 

7.    Transferability. The Grantee may not, except by will or by the laws of descent and distribution, assign or
transfer his or her Base RSUs or notional Shares. The Grantee may assign or transfer, in whole or in part, Shares delivered hereunder pursuant to the Plan, subject to any restrictions imposed by applicable law or the Trust’s insider trading
policies. 
 8.    Governing Law. This Award Notice shall be construed in accordance with, and its interpretation
shall be governed by, applicable federal law and otherwise by the laws of the Commonwealth of Pennsylvania (without reference to the principles of the conflict of laws). 

  
 - 2 - 

 9.    Controlling Documents. The terms and conditions of the Plan
are incorporated herein by reference, made a part hereof, and shall control in the event of any conflict with any other terms of this Award Notice. 

10.    Electronic Delivery of Documents. The Grantee hereby authorizes the Trust to deliver electronically any
prospectuses or other documentation related to this Award, the Plan and any other compensation or benefit plan or arrangement in effect from time to time (including, without limitation, reports, proxy statements or other documents that are required
to be delivered to participants in such plans or arrangements pursuant to federal or state laws, rules or regulations). For this purpose, electronic delivery will include, without limitation, delivery by means of
e-mail or e-mail notification that such documentation is available on the Trust’s Intranet site. Upon written request, the Trust will provide to the Grantee a paper
copy of any document also delivered to the Grantee electronically. The authorization described in this paragraph may be revoked by the Grantee at any time by written notice to the Trust. 

11.    Code Section 409A. Base RSUs payable hereunder are intended to be exempt from Code
Section 409A under the exemption for short-term deferrals. Accordingly, Base RSUs will be settled no later than the Short-Term Deferral Period (as defined in the Plan). Nonetheless, the Trust does not guarantee the tax treatment of this award
or any amount payable to Grantee. 
 [signature page follows] 

  
 - 3 - 

 IN WITNESS WHEREOF, the Trust has caused this Award Notice to be duly executed by its duly
authorized officer on the date indicated below. 
  

			
	PENNSYLVANIA REAL ESTATE
	INVESTMENT TRUST
	
	By                                    
                                         
   
	        Joseph F. Coradino, CEO
	
	
                          
                                         
                 

	Date	 	

  

			
	ACKNOWLEDGED and ACCEPTED:
	
	  

	[Name of Trustee]

 PENNSYLVANIA REAL ESTATE INVESTMENT TRUST 

AMENDED AND RESTATED 2018 EQUITY INCENTIVE PLAN 

BENEFICIARY DESIGNATION FORM 

This Form is for your use under the Pennsylvania Real Estate Investment Trust Amended and Restated 2018 Equity Incentive Plan to name a
beneficiary to whom any benefit under the Plan is to be paid in the event of your death. You should complete the Form, sign it, have it signed by the Trust, and date it. 

*            *           
 *            * 
 I designate the following as my beneficiary(ies) to
receive any benefits payable under the 2021 Restricted Share Unit and Dividend Equivalent Rights Award by reason of my death. I understand that if my designated beneficiary predeceases me, any benefits shall be paid to my surviving spouse or, if
none, to my estate. I further understand that the last beneficiary designation filed by me during my lifetime and accepted by the Trust cancels all prior beneficiary designations previously filed by me under the Plan with respect to the 2021 Award.

I hereby state that                 
     [insert name], residing at                      [insert address], whose
Social Security number is                     , is designated as my beneficiary. 

 

					
	  
	 		 	                                     
                                         
                          
	Signature of Grantee	 		 	Date
			
		 		 	ACCEPTED:
			
		 		 	PENNSYLVANIA REAL ESTATE
		 		 	INVESTMENT TRUST
			
		 		 	By                                      
                                         
                     
		 		 	[Name]
			
		 		 	Date:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00328-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00328-of-00352.parquet"}]]