Portland General Electric Company (POR) Investor presentation summary

Strategic expansion and growth

• Acquisition of a Washington utility expands regional scale, diversifies presence, and increases future rate base investment by 18%.

• Combined rate base projected at $9 billion in 2026, with 1.1 million customers and 4.4 GW generation capacity.

• Partnership with Manulife Investment Management optimizes transaction financing and adds new capital sources.

• Accretive to EPS and dividend growth in the first full year post-acquisition.

Financial performance and shareholder value

• Long-term EPS and dividend growth guidance of 5–7%, with EPS rebased off 2024 guidance of $3.08.

• 2025 revenue reached $3.5 billion, with adjusted non-GAAP EPS of $3.05.

• Proven dividend growth with a 5.5% CAGR from 2017–2026E and a target payout ratio of 60–70%.

• Maintains stable, investment grade credit ratings and $954 million in liquidity as of year-end 2025.

Clean energy and infrastructure investment

• Over $6 billion in rate base growth planned from 2024–2030, supported by diversified capital investment.

• 2,500–3,500 MW of additional non-emitting resources to be procured by 2030.

• Major projects include Clearwater Wind (311 MW), Seaside Battery (200 MW), and multiple transmission upgrades.

• 46% of 2025 resource mix from non-emitting sources, with lowest carbon intensity among peers.