Portland General Electric Company (POR) Proxy Filing summary

Executive summary

• Achieved strong financial performance in 2024, increasing the dividend and investing $1.262 billion in capital projects to support growth and grid resiliency.

• Focused on decarbonization, electrification, and operational excellence, with 45% of energy from clean, non-carbon sources and significant battery storage additions.

• Customer growth driven by high-tech sector demand, new renewable resources, and expanded customer programs for energy efficiency and affordability.

• Maintains a long-term EPS growth target of 5–7% and a compound annual dividend growth rate of 5.6% from 2020–2024.

Voting matters and shareholder proposals

• Shareholders will vote on the election of 9 directors, an advisory say-on-pay vote for executive compensation, and ratification of Deloitte & Touche LLP as independent auditor for 2025.

• Board recommends voting FOR all proposals.

Board of directors and corporate governance

• Board consists of 9 nominees with diverse backgrounds in utilities, technology, finance, law, and public policy; 78% are diverse by gender or ethnicity.

• Five new independent directors added since 2021; average tenure is 5.1 years.

• All standing committees are fully independent; annual board and committee self-assessments are conducted, including external facilitation in 2024.

• Board refreshment, director independence, and stock ownership guidelines are emphasized.