PGE files OPUC notice for holding company reorganization; shares to convert 1:1

PORTLAND GENERAL ELECTRIC CO /OR/

Filed notice of intent with Oregon PUC on May 23, 2025 for holding company structure.
New non-operating HoldCo would own PGE as wholly owned subsidiary; transmission asset subsidiary planned.
Each PGE share to convert automatically into one share of HoldCo common stock upon completion.
Reorganization requires OPUC and FERC approvals; Board may seek shareholder vote later.
Goal: strategic and financial flexibility to support new transmission and economic development.

item 8.01

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