Exhibit 99.1 NEWS Investor Relations: Sam Ramraj, (626) 302-2540 Media Relations: (626) 302-2255 News@sce.com Edison International Reports Fourth-Quarter and Full-Year 2023 Results ROSEMEAD, Calif., Feb. 22, 2024 — Edison International (NYSE: EIX) today reported fourth-quarter net income of $378 million, or $0.99 per share, compared to net income of $415 million, or $1.09 per share, in the fourth quarter of last year. As adjusted, fourth-quarter core earnings were $490 million, or $1.28 per share, compared ...

[Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) [Management Overview](index=19&type=section&id=MANAGEMENT%20OVERVIEW) Edison International's 2023 net income increased to $1.20 billion, primarily due to reduced wildfire-related non-core losses at SCE and modest core earnings growth Edison International Earnings Summary (2021-2023) | (in millions) | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | | **Net Income (Loss) Attributable to Edison International** | | | | | SCE | $1,474 | $847 | $829 | | Edison International Parent and Other | ($277) | ($235) | ($70) | | **Edison International** | **$1,197** | **$612** | **$759** | | **Core Earnings (Loss)** | | | | | SCE | $2,135 | $2,029 | $1,943 | | Edison International Parent and Other | ($310) | ($264) | ($202) | | **Edison International** | **$1,825** | **$1,765** | **$1,741** | - The increase in SCE's core earnings was primarily due to higher revenue from the 2021 GRC escalation mechanism and higher interest income on balancing account undercollections, partially offset by increased interest expense[32](index=32&type=chunk) - Non-core items in 2023 included charges of **$634 million** for 2017/2018 Wildfire/Mudslide Events claims, **$213 million** for Wildfire Insurance Fund amortization, and **$34 million** for other wildfire claims[32](index=32&type=chunk)[37](index=37&type=chunk) - SCE filed its 2025 General Rate Case (GRC) requesting a revenue requirement of approximately **$10.3 billion** for 2025, a **23% increase** over the 2024 authorized amount, to fund infrastructure replacement and grid modernization for electrification[49](index=49&type=chunk) SCE Capital Expenditure Forecast (2024-2028) | (in billions) | 2024 | 2025 | 2026 | 2027 | 2028 | Total 2024-2028 | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Total Capital Expenditures** | **$6.0** | **$7.5** | **$8.1** | **$8.2** | **$7.7** | **$37.5** | | *Range Case Total* | *$5.6* | *$6.6* | *$6.8* | *$6.8* | *$6.4* | *$32.2* | - As of December 31, 2023, SCE has accrued estimated losses of **$9.4 billion** for the 2017/2018 Wildfire/Mudslide Events, with expected recoveries of **$2.0 billion** from insurance and **$413 million** from FERC rates, resulting in a net after-tax charge to earnings of **$5.1 billion** to date[70](index=70&type=chunk)[72](index=72&type=chunk) - SCE plans to seek CPUC recovery of approximately **$6.4 billion** in uninsured claims for the 2017/2018 events, having filed the first application for **$2.4 billion** in August 2023. However, recovery is not considered probable at this time due to regulatory uncertainty[75](index=75&type=chunk) - In May 2023, the CPUC approved a customer-funded self-insurance program for SCE, effective July 1, 2023, to cover future wildfire claims up to **$1.0 billion** per policy year, funded through customer rates[87](index=87&type=chunk)[89](index=89&type=chunk) [Results of Operations](index=35&type=section&id=RESULTS%20OF%20OPERATIONS) For 2023, Southern California Edison's (SCE) net income available to common stock increased to $1.47 billion from $847 million in 2022, driven by lower wildfire-related claim charges and higher CPUC-authorized revenue SCE Results of Operations Summary (in millions) | Metric | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | | **Operating Revenue** | **$16,275** | **$17,172** | **$14,874** | | Total Operating Expenses | $13,635 | $15,659 | $13,364 | | *Wildfire related claims, net* | *$665* | *$1,305* | *$1,276* | | Operating Income | $2,640 | $1,513 | $1,510 | | **Net Income Available for Common Stock** | **$1,474** | **$847** | **$829** | - SCE's Earning Activities revenue increased by **$4 million**, reflecting a **$411 million** increase from the 2021 GRC escalation mechanism, offset by a **$358 million** decrease in revenue related to prior-year wildfire expense recovery[94](index=94&type=chunk) - Wildfire-related claim charges decreased significantly to **$665 million** in 2023 from **$1.3 billion** in 2022, primarily related to the 2017/2018 Wildfire/Mudslide Events[98](index=98&type=chunk) - SCE's interest expense increased by **$335 million** in 2023 due to higher interest rates on debt and balancing account overcollections, as well as increased long-term borrowings[98](index=98&type=chunk) - Edison International Parent and Other's net loss attributable to common shareholders increased by **$42 million** in 2023, primarily due to higher interest expense, partially offset by **$16 million** in gains on preferred stock repurchases[106](index=106&type=chunk) [Liquidity and Capital Resources](index=41&type=section&id=LIQUIDITY%20AND%20CAPITAL%20RESOURCES) SCE maintained adequate liquidity with $214 million in cash and $1.8 billion available under its credit facility, while Edison International Parent held $131 million in cash and $1.3 billion available Available Liquidity as of December 31, 2023 | Entity | Cash on Hand | Revolving Credit Facility | Available to Borrow | | :--- | :--- | :--- | :--- | | **SCE** | $214 million | $3.4 billion | $1.8 billion | | **Edison International Parent** | $131 million | $1.5 billion | $1.3 billion | - SCE's debt to total capitalization ratio was **0.56 to 1**, below the covenant requirement of **0.65 to 1**. Edison International's consolidated ratio was **0.63 to 1**, below its covenant of **0.70 to 1**[114](index=114&type=chunk)[163](index=163&type=chunk) - In January 2024, the CPUC denied SCE's **$677 million** Building Electrification Program Application, which aimed to incentivize the replacement of gas-fueled appliances with electric heat pumps[123](index=123&type=chunk) - Construction of three utility-owned energy storage projects (**537.5 MW** total) by Ameresco has been delayed, with an expected in-service date prior to June 2024. SCE is entitled to liquidated damages of up to **$89 million** due to the delays[135](index=135&type=chunk)[138](index=138&type=chunk) - SCE's nuclear decommissioning trust funds for San Onofre Units 2 and 3 totaled **$2.2 billion** at year-end 2023. The CPUC approved disbursements of approximately **$300 million** for 2024 decommissioning costs[149](index=149&type=chunk)[150](index=150&type=chunk) - In late 2023, Edison International repurchased shares of its Series A and Series B Preferred Stock for an aggregate amount of **$288 million** through a tender offer and open market purchases[159](index=159&type=chunk) Historical Cash Flow Summary (in millions) | Cash Flow | SCE 2023 | SCE 2022 | EIX Parent & Other 2023 | EIX Parent & Other 2022 | | :--- | :--- | :--- | :--- | :--- | | **Net Cash from Operating Activities** | **$3,681** | **$3,319** | **($280)** | **($103)** | | Net Cash from Financing Activities | $1,182 | $2,724 | $265 | $157 | | Net Cash Used in Investing Activities | ($5,231) | ($5,557) | ($2) | ($17) | [Market Risk Exposures](index=64&type=section&id=MARKET%20RISK%20EXPOSURES) Edison International and SCE are primarily exposed to market risks from fluctuations in interest rates, commodity prices, and counterparty credit, largely mitigated by regulatory mechanisms and hedging - The company's primary market risks include fluctuations in interest rates, commodity prices (natural gas, electric power), and counterparty credit[192](index=192&type=chunk) Interest Rate Risk Sensitivity on Long-Term Debt Fair Value | (in millions) | Carrying Value | Fair Value | 10% Rate Increase | 10% Rate Decrease | | :--- | :--- | :--- | :--- | :--- | | **Edison International (12/31/23)** | **$33,013** | **$31,315** | **$30,060** | **$32,684** | | **SCE (12/31/23)** | **$28,494** | **$26,712** | **$25,593** | **$27,930** | - Due to regulatory mechanisms, SCE's exposure to commodity price volatility is not expected to impact earnings but may affect the timing of cash flows. Hedging costs are expected to be recovered through the ERRA balancing account[194](index=194&type=chunk)[196](index=196&type=chunk) - At December 31, 2023, SCE's power and gas trading counterparty credit risk exposure was **$91 million**, all of which was with entities rated A or higher[204](index=204&type=chunk) [Critical Accounting Estimates and Policies](index=68&type=section&id=CRITICAL%20ACCOUNTING%20ESTIMATES%20AND%20POLICIES) The company's critical accounting estimates involve significant judgment in areas such as wildfire contingencies, rate-regulated accounting for regulatory assets, income taxes, nuclear decommissioning, and pension benefits - Accounting for wildfire contingencies requires significant judgment in estimating probable losses based on claims information, legal opinions, and settlement experience. Actual losses could differ materially from accrued estimates[206](index=206&type=chunk)[212](index=212&type=chunk) - Under rate-regulated accounting, management must assess the probability of future recovery for regulatory assets. As of Dec 31, 2023, SCE had **$11.4 billion** in regulatory assets and **$10.2 billion** in regulatory liabilities[213](index=213&type=chunk)[218](index=218&type=chunk) - For post-2018 wildfires, SCE has concluded that recovery of uninsured costs is probable under the AB 1054 prudency standard, as it has held a valid safety certificate. This differs from the 2017/2018 events, where recovery is not deemed probable[222](index=222&type=chunk)[224](index=224&type=chunk) - The Asset Retirement Obligation (ARO) for nuclear decommissioning was **$2.2 billion** as of Dec 31, 2023. A uniform **1 percentage point** increase in the cost escalation rate would increase this liability by **$587 million**[238](index=238&type=chunk)[239](index=239&type=chunk) - Contributions to the Wildfire Insurance Fund are amortized over an estimated coverage period. In January 2024, management reassessed and increased the estimated life of the fund from **15 to 20 years**, which will change the amortization expense prospectively[252](index=252&type=chunk)[253](index=253&type=chunk) [Risk Factors](index=84&type=section&id=RISK%20FACTORS) [Risks Relating to Edison International](index=84&type=section&id=RISKS%20RELATING%20TO%20EDISON%20INTERNATIONAL) Edison International's financial health and dividend capacity are dependent on SCE's earnings, cash flows, and upstream distributions, which are subject to regulatory and financial restrictions - Edison International is a holding company with no material operations of its own, making it dependent on earnings and cash flows from SCE to meet its financial obligations and pay dividends[257](index=257&type=chunk) - SCE's ability to make upstream distributions is subject to financial and regulatory obligations, including debt service, preference stock dividends, and California law requirements for dividend declarations[258](index=258&type=chunk) [Risks Relating to Southern California Edison Company](index=84&type=section&id=RISKS%20RELATING%20TO%20SOUTHERN%20CALIFORNIA%20EDISON%20COMPANY) SCE faces significant risks from regulatory actions, particularly cost recovery for wildfire liabilities, operational hazards including catastrophic wildfires, climate change impacts, and competition from CCAs - SCE's financial results depend on its ability to recover costs and earn a reasonable return on capital investments through regulated rates, which can be hindered by regulatory lag or disallowances[261](index=261&type=chunk) - There is a risk that the Wildfire Insurance Fund and other provisions of AB 1054 may not effectively mitigate the significant liability faced by California utilities for catastrophic wildfires[268](index=268&type=chunk) - Damage claims against SCE for wildfire-related losses, potentially under the strict liability theory of inverse condemnation, may materially affect financial condition, especially if uninsured costs are not recoverable in rates[275](index=275&type=chunk) - SCE's insurance coverage for wildfires may be insufficient to cover all losses, and any uninsured amounts (including retentions and co-insurance) may not be recoverable from customers[278](index=278&type=chunk) - Climate change-exacerbated events like wildfires, flooding, and extreme heat can disrupt operations, damage infrastructure, and lead to significant unrecoverable costs and damage claims[284](index=284&type=chunk) - As a capital-intensive utility, SCE relies on access to capital markets. Increased financing costs or constrained access due to factors like wildfire risk could materially affect liquidity and operations[301](index=301&type=chunk) - Competition from Community Choice Aggregators (CCAs) and customer-owned generation (e.g., rooftop solar) reduces electricity sales, which can increase rates for remaining bundled service customers[306](index=306&type=chunk) [Risks Relating to Edison International and Southern California Edison Company](index=99&type=section&id=RISKS%20RELATING%20TO%20EDISON%20INTERNATIONAL%20AND%20SOUTHERN%20CALIFORNIA%20EDISON%20COMPANY) Both Edison International and SCE face enterprise-level risks from cybersecurity threats, catastrophic macroeconomic and geopolitical events, and business concentration in the California electric utility industry - Successful physical or cyber attacks on SCE's information and operational technology systems could lead to grid disruptions, data compromise, and material financial loss[307](index=307&type=chunk)[308](index=308&type=chunk) - The company's security program cannot prevent all attacks, and risks are increasing due to a more network-connected grid, new technologies, and threats from third-party vendors and supply chains[309](index=309&type=chunk)[314](index=314&type=chunk)[315](index=315&type=chunk) - Catastrophic events like pandemics or geopolitical conflicts could disrupt workforces, supply chains, and economies, materially impacting financial condition and results of operations[318](index=318&type=chunk) - Business activities are concentrated in the California electric utility industry, exposing the company to regional economic factors and unique legal risks, such as the application of strict liability in wildfire cases[320](index=320&type=chunk) [Financial Statements and Supplementary Data](index=103&type=section&id=FINANCIAL%20STATEMENTS%20AND%20SUPPLEMENTARY%20DATA) [Consolidated Financial Statements](index=117&type=section&id=CONSOLIDATED%20FINANCIAL%20STATEMENTS) The consolidated financial statements present Edison International's $1.20 billion net income and SCE's $1.47 billion net income for 2023, reflecting significant assets, liabilities, and wildfire impacts Edison International Consolidated Statement of Income Highlights (Year Ended Dec 31, 2023) | (in millions) | Amount | | :--- | :--- | | Operating Revenue | $16,338 | | Total Operating Expenses | $13,711 | | Operating Income | $2,627 | | **Net Income Attributable to EIX Common Shareholders** | **$1,197** | | **Diluted EPS** | **$3.11** | Edison International Consolidated Balance Sheet Highlights (As of Dec 31, 2023) | (in millions) | Amount | | :--- | :--- | | Total Current Assets | $6,811 | | Total Property, Plant and Equipment | $56,084 | | **Total Assets** | **$81,758** | | Total Current Liabilities | $8,598 | | Long-Term Debt | $30,316 | | **Total Liabilities** | **$63,814** | | **Total Equity** | **$17,944** | SCE Consolidated Statement of Income Highlights (Year Ended Dec 31, 2023) | (in millions) | Amount | | :--- | :--- | | Operating Revenue | $16,275 | | Total Operating Expenses | $13,635 | | Operating Income | $2,640 | | **Net Income Available for Common Stock** | **$1,474** | [Notes to Consolidated Financial Statements](index=133&type=section&id=NOTES%20TO%20CONSOLIDATED%20FINANCIAL%20STATEMENTS) The notes detail significant accounting policies, including rate-regulated accounting, wildfire contingencies with $9.4 billion accrued for 2017/2018 events, debt, pension plans, and power purchase commitments - **Note 1:** SCE applies rate-regulated accounting, capitalizing costs as regulatory assets if probable of future recovery. As of Dec 31, 2023, regulatory assets were **$11.4 billion** and liabilities were **$10.2 billion**[386](index=386&type=chunk)[606](index=606&type=chunk)[613](index=613&type=chunk) - **Note 2:** SCE's total utility property, plant, and equipment was **$55.9 billion** at year-end 2023, with distribution assets comprising the largest component at **$34.6 billion**[472](index=472&type=chunk) - **Note 5:** As of Dec 31, 2023, Edison International had total long-term debt of **$30.3 billion**, with SCE accounting for **$26.3 billion** of that total[510](index=510&type=chunk) - **Note 9:** At year-end 2023, SCE's pension plan was overfunded by **$137 million**, while its Postretirement Benefits Other Than Pensions (PBOP) plan was overfunded by **$1.5 billion**[550](index=550&type=chunk)[561](index=561&type=chunk) - **Note 12 (Wildfires):** Through Dec 31, 2023, SCE accrued **$9.4 billion** in estimated losses for the 2017/2018 Wildfire/Mudslide Events and has paid or is obligated to pay ~**$8.8 billion** in settlements[674](index=674&type=chunk) - **Note 12 (Wildfires):** For Post-2018 Wildfires, SCE has recorded total estimated losses of **$880 million**, with expected recoveries of **$622 million** from insurance/third parties and **$168 million** through electric rates[684](index=684&type=chunk) - **Note 12 (Commitments):** As of Dec 31, 2023, SCE has undiscounted future minimum payment commitments of **$30.4 billion** under its Power Purchase Agreements (PPAs)[622](index=622&type=chunk) - **Note 14:** In late 2023, Edison International repurchased a total of **308,229 shares** of its Series A and Series B Preferred Stock for an aggregate price of approximately **$288 million**[734](index=734&type=chunk)[920](index=920&type=chunk) [Business](index=244&type=section&id=BUSINESS) [Corporate Structure, Industry and Other Information](index=244&type=section&id=CORPORATE%20STRUCTURE%2C%20INDUSTRY%20AND%20OTHER%20INFORMATION) Edison International is a holding company with SCE as its primary utility subsidiary, serving 5.3 million customers in Southern California, and Edison Energy providing advisory services globally - Edison International is the parent holding company of Southern California Edison (SCE), a public utility, and Edison Energy, a global energy advisory firm[756](index=756&type=chunk) - SCE serves approximately **5.3 million** customers in Southern California. In 2023, commercial customers accounted for **42.8%** of operating revenue and residential customers for **37.4%**[761](index=761&type=chunk) - As of December 31, 2023, Edison International had **14,375 employees**, with approximately **4,200** of SCE's employees represented by the International Brotherhood of Electrical Workers (IBEW)[766](index=766&type=chunk)[768](index=768&type=chunk) Edison International Employee Diversity (as of Dec 31, 2023) | Category | Employees | Leaders | Executives | | :--- | :--- | :--- | :--- | | Females | 32% | 27% | 39% | | Racially/ethnically diverse | 64% | 54% | 33% | [Southern California Edison Company](index=252&type=section&id=SOUTHERN%20CALIFORNIA%20EDISON%20COMPANY) SCE's operations are extensively regulated by the CPUC, FERC, and CAISO, with revenue determined through GRCs, while facing increasing retail competition from CCAs and managing vast transmission and distribution infrastructure - SCE is regulated by multiple agencies, including the CPUC for retail rates and safety, FERC for wholesale rates and transmission, and OEIS for wildfire mitigation plan oversight[789](index=789&type=chunk)[790](index=790&type=chunk)[796](index=796&type=chunk) - SCE's revenue is determined through quadrennial GRCs. The 2021 GRC authorized revenue requirements through 2024, and the 2025 GRC application was filed in May 2023[802](index=802&type=chunk)[803](index=803&type=chunk) - SCE's authorized ROE for 2024 is **10.75%**, with a weighted average return on rate base of **7.87%**[805](index=805&type=chunk) - SCE faces competition from CCAs, which represented ~**21%** of its total service load at year-end 2023, and this is anticipated to grow to ~**37%** by the end of 2024 when including Direct Access[833](index=833&type=chunk) - SCE's infrastructure includes approximately **13,000 circuit-miles** of transmission lines and **69,000 circuit-miles** of distribution lines[841](index=841&type=chunk) [Southern California Wildfires](index=270&type=section&id=SOUTHERN%20CALIFORNIA%20WILDFIRES) Increased wildfire risk in SCE's service territory remains a primary challenge, with the company implementing WMPs and PSPS, while AB 1054 provides a cost recovery framework for post-2018 fires but not for 2017/2018 liabilities - Approximately **27%** of SCE's service territory is in areas identified as high fire risk, with worsening weather conditions increasing the likelihood of wildfires where SCE equipment may be involved[847](index=847&type=chunk)[848](index=848&type=chunk) - For wildfires ignited after July 12, 2019, AB 1054 established a revised prudency standard for cost recovery and created the Wildfire Insurance Fund to reimburse utilities for eligible claims exceeding **$1 billion** or their required insurance coverage[853](index=853&type=chunk)[855](index=855&type=chunk) - Utilities with a valid safety certification, like SCE, are presumed to have acted prudently regarding a wildfire ignition unless a party creates "serious doubt" as to the reasonableness of the utility's conduct[853](index=853&type=chunk) - SCE's requirement to reimburse the Wildfire Insurance Fund for disallowed costs is capped at approximately **$3.9 billion** over a trailing three-year period, based on its 2024 rate base[859](index=859&type=chunk) - SCE uses Public Safety Power Shutoffs (PSPS) as a last resort to mitigate wildfire risk. In 2023, SCE initiated PSPS **8 times**, a significant reduction from **12 events** in 2020, reflecting investments in grid hardening and improved protocols[863](index=863&type=chunk)[864](index=864&type=chunk) [Environmental Considerations](index=276&type=section&id=ENVIRONMENTAL%20CONSIDERATIONS) Edison International and SCE are committed to California's net-zero GHG emissions goal by 2045, with 49% of 2023 power from carbon-free resources, while addressing physical climate risks to infrastructure - Edison International is committed to achieving net-zero GHG emissions by **2045**, in line with California's state policy[871](index=871&type=chunk) - In 2023, approximately **49%** of SCE's customer deliveries came from carbon-free resources. The company is on track to meet California's Renewables Portfolio Standard (RPS) target of **60%** by **2030**[875](index=875&type=chunk)[876](index=876&type=chunk) - Climate change presents physical risks to SCE's infrastructure from severe weather, drought, and wildfires. SCE is investing in grid resilience to mitigate these vulnerabilities[879](index=879&type=chunk) - In May 2022, SCE submitted a climate adaptability vulnerability assessment (CAVA) to the CPUC to inform future planning and investment to maintain grid resilience against climate change[880](index=880&type=chunk) [Legal Proceedings](index=282&type=section&id=LEGAL%20PROCEEDINGS) [2017/2018 Wildfire/Mudslide Events](index=282&type=section&id=2017%2F2018%20Wildfire%2FMudslide%20Events) SCE and Edison International face ongoing lawsuits from individual and public entity plaintiffs related to the 2017/2018 Wildfire/Mudslide Events, with approximately 1,500 individual claims still outstanding - As of February 15, 2024, claims from approximately **1,500 individual plaintiffs** and certain public entities related to the 2017/2018 Wildfire/Mudslide Events remain outstanding[890](index=890&type=chunk) - Lawsuits allege negligence, inverse condemnation, trespass, and other violations. The cases for the Thomas, Koenigstein, and Montecito events, as well as the Woolsey Fire cases, are being coordinated in Los Angeles Superior Court[891](index=891&type=chunk)[894](index=894&type=chunk)[895](index=895&type=chunk) [Part III](index=286&type=section&id=PART%20III) [Directors, Executive Officers and Corporate Governance](index=286&type=section&id=DIRECTORS%2C%20EXECUTIVE%20OFFICERS%20AND%20CORPORATE%20GOVERNANCE) This section provides information on Edison International's executive officers, with detailed director information and the Employee Code of Conduct incorporated by reference from the Proxy Statement - Information concerning executive officers, including Pedro J. Pizarro (President and CEO) and Maria Rigatti (EVP and CFO), is provided. Detailed director information is incorporated by reference from the 2024 Proxy Statement[900](index=900&type=chunk)[901](index=901&type=chunk) - The Edison International Employee Code of Conduct applies to all officers and employees and is available on the company's website[904](index=904&type=chunk) [Executive Compensation](index=288&type=section&id=EXECUTIVE%20COMPENSATION) Detailed information regarding executive and director compensation, including the Compensation Discussion and Analysis, is incorporated by reference from Edison International's 2024 Proxy Statement - Information regarding executive compensation is incorporated by reference from the Edison International Proxy Statement[905](index=905&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=288&type=section&id=SECURITY%20OWNERSHIP%20OF%20CERTAIN%20BENEFICIAL%20OWNERS%20AND%20MANAGEMENT%20AND%20RELATED%20STOCKHOLDER%20MATTERS) This section details equity compensation plans, with approximately 13.1 million shares remaining for future issuance under shareholder-approved plans, and security ownership information incorporated by reference Equity Compensation Plan Information (as of Dec 31, 2023) | Plan Category | Securities to be issued upon exercise | Weighted avg. exercise price | Securities remaining for future issuance | | :--- | :--- | :--- | :--- | | Equity compensation plans approved by security holders | 13,144,141 | $64.30 | 13,146,662 | [Certain Relationships and Related Transactions, and Director Independence](index=290&type=section&id=CERTAIN%20RELATIONSHIPS%20AND%20RELATED%20TRANSACTIONS%2C%20AND%20DIRECTOR%20INDEPENDENCE) Information regarding related party transactions and director independence is incorporated by reference from Edison International's 2024 Proxy Statement - Information on related party transactions and director independence is incorporated by reference from the Edison International Proxy Statement[911](index=911&type=chunk) [Principal Accountant Fees and Services](index=290&type=section&id=PRINCIPAL%20ACCOUNTANT%20FEES%20AND%20SERVICES) PricewaterhouseCoopers LLP (PwC) served as the principal accountant for Edison International and SCE in 2023, with SCE's total fees billed by PwC at $6.4 million, primarily for audit services SCE Fees Billed by PwC (in thousands) | Type of Fee | 2023 | 2022 | | :--- | :--- | :--- | | Audit Fees | $5,975 | $5,385 | | Tax Fees | $229 | $225 | | All Other Fees | $232 | $229 | | **Total** | **$6,436** | **$5,839** |

Edison International (EIX) is slated to report fourth-quarter and full-year 2023 results on Feb 22, after market close.EIX has a trailing four-quarter average earnings surprise of 3.37%.Factors to NoteIn the to-be-reported quarter, EIX’s service territories witnessed a warmer-than-normal weather pattern accompanied by below normal precipitation.  Such a weather pattern is likely to have increased the demand for electricity for cooling purposes, positively impacting the company’s overall revenues.Edison Inte ...

Edison International (EIX) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on February 22, 2024, might help the stock move higher if these key numbers are b ...

Statements contained in this presentation about future performance, including, without limitation, operating results, capital expenditures, rate base growth, dividend policy, financial outlook, and other statements that are not purely historical, are forward-looking statements. These forward-looking statements reflect our current expectations; however, such statements involve risks and uncertainties. Actual results could differ materially from current expectations. These forward-looking statements represent ...

Edison International (NYSE:EIX) Q3 2023 Earnings Conference Call November 1, 2023 4:30 PM ET Company Participants Sam Ramraj - VP of IR Pedro Pizarro - President and CEO Maria Rigatti - EVP and CFO Steven Powell - President and CEO of Southern California Edison Conference Call Participants Anthony Crowdell - Mizuho Securities Shar Pourreza - Guggenheim Partners Angie Storozynski - Seaport Gregg Orrill - UBS Ryan Levine - Citi Michael Lonegan - Evercore ISI David Arcaro - Morgan Stanley Paul Zimbardo - Bank ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ☐ EXCHANGE ACT OF 1934 For the transition period from to Commission File Number Exact Name of Registrant as specified in its charter 1-9936 EDISON INTERNATIONAL California 95-4137452 1-2313 SOU ...

Financial Data and Key Metrics - The company reaffirmed its full-year core EPS guidance of $4.55 to $4.85 for 2023 [22] - Core EPS for Q2 2023 was $1.01, with a $0.13 year-over-year increase driven by GRC attrition year revenue escalation ($0.19), higher FERC and other revenue ($0.04), and balancing account interest income ($0.10), partially offset by a $0.16 increase in interest expense [181][105] - The company expects 5% to 7% EPS growth from 2021 through 2025, with a pathway to $7 EPS potential by 2028 [146][43] - SCE's 2025 base revenue requirement is $10.3 billion, a $1.9 billion (12%) increase over 2024 rates, leading to a 9% system average rate increase and a 10% average residential customer bill increase [16] Business Line Data and Key Metrics - SCE's capital expenditure forecast for 2023-2028 is $38 to $43 billion, with over 85% allocated to distribution grid investments [162][182] - SCE has implemented AI and technology advancements, including computer vision algorithms for T&D inspections, reducing wildfire risks and improving operational efficiency [17][35] - SCE's wildfire mitigation efforts have reduced the probability of catastrophic wildfire losses by 85% compared to pre-2018 levels [151] - SCE's energy storage portfolio exceeded 5,000 megawatts by year-end, one of the largest in the nation [159] Market Data and Key Metrics - SCE's rate base growth is projected at 6% to 8%, starting from a 2023 base of $41.9 billion, nearly 20% higher than two years ago [164] - The California Independent System Operator (CAISO) identified $2.3 billion in transmission projects for SCE, with an additional $3 billion in competitive projects in Southern California [183] - The state of California allocated $2.7 billion over four years for forest resiliency and fire suppression, maintaining 98% of the original proposal [38] Company Strategy and Industry Competition - SCE is focused on advancing California's clean energy transition, maintaining cost leadership, and achieving net-zero commitments [15][20] - The company is leveraging AI, robotic process automation, and mobile solutions to enhance customer experience, grid planning, and operational efficiency [36] - SCE's 2025 GRC application emphasizes grid reliability, resilience, and readiness to support California's decarbonization goals [147] - The company is exploring additional capital deployment opportunities, with at least $2 billion in potential investments to be requested in standalone applications [23] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in achieving 5% to 7% EPS growth through 2028, driven by strong rate base growth and stabilized headwinds [61][188] - The company highlighted the potential for cost recovery in legacy wildfire proceedings, which could provide substantial upside to long-term earnings [27] - Management noted the importance of the CHIPS Act and federal infrastructure investments in supporting long-term supply chain resilience [31] - The company is prepared for the wildfire season, with 76% of distribution lines in high fire risk areas expected to be hardened by year-end [19] Other Important Information - SCE's operational excellence program has identified O&M savings, including $55 million from combined ground and aerial inspections [41][24] - The company has achieved $160 million in annual savings through its expanded wildfire self-insurance program [186] - SCE's vegetation management program inspects 1.6 million trees annually, mitigating approximately 850,000 trees, with over half in high fire risk areas [176] Q&A Session Summary Question: Long-term EPS growth and rate base growth alignment - Management clarified that the 5% to 7% EPS growth aligns with rate base growth, with stabilization of past headwinds and strong AFEDC growth contributing to this alignment [108][110] Question: Equity financing and capital needs - The company plans to rely on internal equity programs, generating approximately $100 million annually, to meet equity needs through 2028 [53][78] Question: CAISO transmission opportunities - CAISO's transmission planning process identifies projects on a 20-year outlook, with $2.3 billion in incumbent projects for SCE and $3 billion in competitive projects [57][58] Question: Operational variances and AFEDC - Management provided sensitivities for operational variances, including AFEDC and depreciation adjustments, with AFEDC expected to rise from $0.30-$0.35 to $0.45 by 2028 [100][111] Question: CCM trigger and ROE adjustment - The CCM is likely to trigger, with an advice letter to be filed in October for a potential ROE adjustment, though this is not factored into the 5% to 7% EPS growth target [106][125] Question: Wildfire cost recovery - SCE will file a cost recovery application in August for the 2017 and 2018 wildfire events, seeking full CPUC cost recovery [37][51]

Procurement: Finding Ways to Buy Better 2025 Investments in safety and reliability of the grid 1. See EIX Core EPS Non-GAAP Reconciliations and Use of Non-GAAP Financial Measures in Appendix 2. For comparability, 2023 year-to-date key EPS drivers are reported based on 2022 weighted-average share count of 380.9 million. 2023 year-to-date weighted-average shares outstanding is 382.8 million 3. Includes $0.02 lower revenue related to higher tax benefits subject to balancing accounts and offset with income taxe ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 (Registrant's telephone number, including area code) (Registrant's telephone number, including area code) State or Other Jurisdiction of Incorporation or Organization IRS Employer Identification Number SOUTHERN CALIFORNIA EDISON COMPANY 2244 Walnut Grove Avenue 2244 ...