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PG&E Continues Chapter 11 Progress by Securing More Than Two-Thirds Support for Noteholder Restructuring Support Agreement

01/29/2020

SAN FRANCISCO--(BUSINESS WIRE)-- PG&E Corporation announced today that it has entered into joinder agreements with additional holders of Utility senior notes for the Restructuring Support Agreement with Utility noteholders that was announced last week (the “Noteholder RSA”). With these joinders, the Noteholder RSA has the support of more than two-thirds in principal amount of holders of two key classes of Utility debt: the Utility's short-term senior notes and the Utility's longer-term, high coupon senior notes. The company is pleased to have these additional consenting noteholders join the Noteholder RSA.

A copy of the Noteholder RSA is posted on PG&E Corporation’s website under the “Chapter 11” tab at the following link.

About PG&E Corporation

PG&E Corporation (NYSE: PCG) is a holding company headquartered in San Francisco. It is the parent company of Pacific Gas and Electric Company (Utility), an energy company that serves 16 million Californians across a 70,000-square-mile service area in Northern and Central California. Each of PG&E Corporation and the Utility is a separate entity, with distinct creditors and claimants, and is subject to separate laws, rules and regulations. For more information, visit pgecorp.com.

Forward-Looking Statements

This press release contains forward-looking statements that are not historical facts, including statements about the beliefs, expectations, estimates, future plans and strategies of PG&E Corporation and the Utility. These statements are based on current expectations and assumptions, which management believes are reasonable, and on information currently available to management, but are necessarily subject to various risks and uncertainties. In addition to the risk that these assumptions prove to be inaccurate, factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include factors disclosed in PG&E Corporation and the Utility's joint Annual Report on Form 10-K for the year ended December 31, 2018, their joint Quarterly Reports on Form 10-Q for the quarters ended March 31, 2019, June 30, 2019 and September 30, 2019, and their subsequent reports filed with the Securities and Exchange Commission. Additional factors include, but are not limited to, those associated with the Chapter 11 cases of PG&E Corporation and the Utility that commenced on January 29, 2019. PG&E Corporation and the Utility undertake no obligation to publicly update or revise any forward-looking statements, whether due to new information, future events or otherwise, except to the extent required by law.

Media Relations
415.973.5930

Source: PG&E Corporation

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