Portland General Electric Investor Presentation — March 2022

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Investor Presentation

PORTLAND GENERAL ELECTRIC

MARCH 8, 2022Cautionary statement

Investor Relations, Treasury and Risk Management(503) 464- 7051

Jardon.Jaramillo@pgn.com

Senior AnalystInvestor Relations(503) 464- 8073

Nicholas.White@pgn.com

Portland General Electric

investors.portlandgeneral.com

121 SW Salmon StreetSuite 1WTC0506Portland, OR 97204Investor Relations ContactsInformation 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 undert akes no duty to update

this presentation, except as may be required by law.

Forward -Looking Statements

Statements in this presentation that relate to future plans , objectives, expectations, performance, events and the like may constitute "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 Section 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 Company assumes no obligation to update or revise any forward -looking statement as a result of new information, futu re 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

amortization expense) as well as other statements containing words such as "anticipates," "believes," "intends," "estimates," "promises," "expects," "should,"

"conditioned 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 prices; operational

risks relating to the Company's generation and battery storage facilities, including hydro conditions, wind conditions, disru ption of transmission and

distribution, disruption of fuel supply, and unscheduled plant outages, which may result in unanticipated operating, maintena nce and repair costs, as well as

replacement power costs; delays in the supply chain and increased supply costs, failure to complete capital projects on sched uleor within budget, or the