Portland General Electric Investor Presentation — February 2022

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EARNINGS CONFERENCE CALL

FOURTH QUARTER AND FULL YEAR 2021Exhibit 99.2Cautionary statement

Information Current as of February 17, 2022

Except as expressly noted, the information in this presentation is current as of February 17, 2022 —the date on which PGE file d its Annual Report on Form 10 -K for the year

ended December 31, 2021 —and should not be relied upon as being current as of any subsequent date. PGE undertakes no duty to up date this presentation, except as may

Forward -Looking Statements

Statements in this press release that relate to future plans, objectives, expectations, performance, events and the like may con stitute "forward -looking statements" within the

meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and S ection 21E of the Securities Exchange Act of

1934, as amended. These forward -looking statements represent our estimates and assumptions as of the date of this report. The Co mpany assumes no obligation to update

or revise any forward- looking statement as a result of new information, future events or other factors.

Forward- looking statements include statements regarding the Company's full -year earnings guidance (including expectations regard ing annual retail deliveries, average

hydro conditions, wind generation, normal thermal plant operations, operating and maintenance expense and depreciation and amort ization expense) as well as other

statements containing words such as "anticipates," "believes," "intends," "estimates," "promises," "expects," "should," "cond itioned upon," and similar expressions.

Investors are cautioned that any such forward -looking statements are subject to risks and uncertainties, including, without limi tation: the outcome of various legal and

regulatory actions; demand for electricity; the sale of excess energy during periods of low demand or low wholesale market pr ices; operational risks relating to the

Company's generation and battery storage facilities, including hydro conditions, wind conditions, disruption of transmission and distribution, disruption of fuel supply, and

unscheduled plant outages, which may result in unanticipated operating, maintenance and repair costs, as well as replacement pow er costs; delays in the supply chain and

increased supply costs, failure to complete capital projects on schedule or within budget, or the abandonment of capital proj ects, which could result in the Company's

inability to recover project costs; the costs of compliance with environmental laws and regulations, including those that gov ernemissions from thermal power plants;

changes in weather, hydroelectric and energy market conditions, which could affect the availability and cost of purchased pow er and fuel; the development of alternative