Financial Data and Key Metrics Changes - The company reported a stabilization of typical residential combined bills since January 2024, with expectations for a decrease in 2026 [30] - The general rate case proposal for 2027 through 2030 includes the smallest percentage increase request in a decade, attributed to $2.5 billion saved in operating and capital costs over the past three years [30] Business Line Data and Key Metrics Changes - The company achieved zero major wildfires caused by its equipment for the second consecutive year in 2024, indicating effective wildfire protection measures [21] - Over 900 miles of power lines have been buried in high-risk areas, reducing ignition risk by nearly 98% [21] - The company installed over 630 AI-enabled wildfire cameras for real-time condition awareness [22] Market Data and Key Metrics Changes - The company added nearly 14,000 new customers in 2024, representing a 30% increase over the previous year [26] - The clean energy portfolio includes 98% greenhouse gas-free power for electric retail customers [23] Company Strategy and Development Direction - The company aims for capital investments of approximately $63 billion from 2024 to 2028, with a goal to limit annual growth in customer costs to 2-4% [25] - The strategy includes reducing non-fuel operating and maintenance costs by at least 2% each year, which has been met or surpassed for three consecutive years [25] Management's Comments on Operating Environment and Future Outlook - Management emphasized a commitment to safety, reliability, and affordability in energy services, aiming to build trust with customers and communities [17][19] - The company is focused on serving people, the planet, and California's prosperity, with ongoing efforts to improve service at lower costs [28] Other Important Information - The board of directors is currently set at 14 members, as required by CPUC regulations, which allows for a diversity of experience and skills [32] - The company is committed to inclusion and belonging as core values, enhancing company strength and responsiveness to customer needs [34] Q&A Session Summary Question: What is PG and E doing to help customers navigate bill increases? - The company is stabilizing bills and expects them to decrease in 2026, with a proposal for the smallest general rate case percentage increase in a decade [30] Question: Why is the PG and E board currently set at 14 members? - The board size is determined by CPUC regulations, which require between twelve and fifteen directors to ensure diverse oversight [32] Question: Why is inclusion and belonging a core value for PG and E? - Inclusion and belonging are integral to the company’s operations, making it stronger and more responsive to diverse customer needs [34]

Core Viewpoint - Royal Road Minerals Limited has announced the appointment of Sarah Armstrong-Montoya to its Board of Directors, the establishment of a Special Advisory Board focused on safety, security, and sustainability, and the issuance of stock options to certain directors [2][4][5]. Group 1: Appointment and Board Changes - Sarah Armstrong-Montoya has been appointed to the Board of Directors, bringing extensive experience from her previous roles in various companies, including the Ivanhoe group [3][6]. - Current Directors Hugh Devlin and Guy Wallis will step down from the Board to join the newly established Special Advisory Board, which aims to enhance the company's operational rigor and sustainability initiatives [2][4]. Group 2: Company Initiatives and Commitments - Royal Road Minerals emphasizes its commitment to safety, security, and sustainability, which is integral to its long-term value and reputation as a responsible exploration and development company [4]. - The establishment of the Special Advisory Board is a strategic move to ensure independent oversight and experienced guidance in the company's operations and sustainability efforts [4][6]. Group 3: Stock Options Issuance - The company has granted a total of 1,250,000 stock options to purchase ordinary shares at a price of $0.15 per share, effective May 19, 2025, with a four-month hold period [5]. - The outstanding options, including those granted, represent approximately 6% of the issued and outstanding shares of the company [5].

Core Insights - ArcelorMittal published its 2024 Sustainability Report, highlighting progress in key sustainability areas such as safety, decarbonisation, and community engagement [2][4] Group 1: Sustainability Progress - The report details advancements in safety, with the implementation of dss+ safety recommendations initiated in November 2024, marking the beginning of a three-year transformation program [3] - The company has achieved a nearly 50% reduction in absolute emissions from its 2024 operating perimeter compared to 2018, supported by a $1 billion investment in decarbonisation projects [4][11] - The share of steel produced via electric arc furnace (EAF) has increased to 25% in 2024, up from 19% in 2018 [4] Group 2: ResponsibleSteel™ Certification - ArcelorMittal certified an additional nine sites in 2024, bringing the total to 42 certified facilities under the ResponsibleSteel™ initiative, which encompasses 12 environmental, social, and governance principles [3][4] Group 3: Economic Decarbonisation Challenges - The company acknowledges that achieving further decarbonisation through methods like carbon capture and green hydrogen DRI-EAF is likely to be economically viable only post-2030, contingent on supportive policies [5] Group 4: Financial Performance - In 2024, ArcelorMittal generated revenues of $62.4 billion and produced 57.9 million metric tonnes of crude steel [7]