Pacific Gas and Electric Company Announces Cash Tender Offers

About this update from Pacific Gas & Electric Co.

OAKLAND, Calif., July 27, 2026 /PRNewswire/ -- Pacific Gas and Electric Company (the "Company") today announced the commencement of cash tender offers ("Tender Offers") to purchase up to an aggregate principal amount that will not result in an aggregate purchase price that exceeds $1,000,000,000 (subject to increase or decrease by the Company, the "Aggregate Maximum Tender Amount") of its outstanding 3.30% Senior Notes due December 1, 2027 (the "3.30% Senior Notes") and 2.10% First Mortgage Bonds due August 1, 2027 (the "2.10% First Mortgage Bonds" and, together with the 3.30% Senior Notes, the "Bonds" and, each series, a "series of Bonds"), subject to the order of priority (the "Acceptance Priority Levels" as set forth in the table below under "Acceptance Priority Level").  The price offered in the Tender Offers and other information relating to the Tender Offers are set forth in the table below.Title of BondsCUSIP Numbers1Aggregate Principal Amount Outstanding2Acceptance Priority Level3Reference U.S. Treasury SecurityBloomberg Reference Page4Fixed Spread (basispoints)3.30% Senior Notes due December 1, 2027694308 HW0 (SEC Registered) / 694308 HV2 (144A)$1,150,000,00013.875% U.S. Treasury due November 30, 2027FIT4+202.10% First Mortgage Bonds due August 1, 2027694308 JF5$1,000,000,00023.875% U.S. Treasury due July 31, 2027FIT4+201. No representation is made as to the correctness or accuracy of the CUSIP Numbers listed in this news release or printed on the Bonds. They are provided solely for the convenience of the Holders (as defined herein) of the Bonds.2. As of July 27, 2026.3. Subject to the Aggregate Maximum Tender Amount and proration, the principal amount of each series of Bonds that is purchased in the Tender Offers will be determined in accordance with the applicable Acceptance Priority Level (in numerical priority order with 1 being the highest Acceptance Priority Level and 2 being the lowest) specified in this column.4. The applicable page on Bloomberg from which the Dealer Managers (as defined herein) will quote the bid side prices of the applicable U.S. Treasury Security.The Tender Offers are being made upon the terms and subject to the conditions set forth in the Offer to Purchase, dated July 27, 2026 (as the same may be amended or supplemented from time to time, the "Offer to Purchase"), including the Financing Condition (as define...

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