Investor Presentation PORTLAND GENERAL ELECTRIC February 17, 2026 Cautionary statement Portland General Electric investors.portlandgeneral.com 121 SW Salmon Street Suite 1WTC0506 Portland, OR 97204 Christopher Liddle (503) 333-9677 Christopher.Liddle@pgn.com Nick White (503) 464-8073 Nicholas.White@pgn.com Information Current as of February 17, 2026 Except as expressly noted, the information in this presentation is current as of February 17, 2026 – the date on which PGE filed its Annual Report on Form 10-K ...

Core Insights - National Grid is enhancing resilience against wildfire risks through a partnership with Rhizome, utilizing advanced AI technology to identify and prevent such risks across its electric transmission and distribution networks in Massachusetts, New York, and the UK [1][3]. Group 1: Partnership and Technology - The collaboration with Rhizome involves the deployment of the gridFIRM platform, which quantifies long-term wildfire risks related to utility assets, enabling cost-effective mitigation strategies [2][8]. - The partnership aligns with National Grid's strategic focus on risk management, system resilience, and maintaining bill affordability for customers [3][4]. Group 2: Wildfire Risk Context - Wildfire risk is increasingly affecting the Northeast, with New York and Massachusetts experiencing 2,626 wildfires in 2024, more than double the previous year's total [3]. - The growing geographic diversity of wildfire risks necessitates robust resilience planning and preparedness for National Grid and utility stakeholders [3]. Group 3: Investment in Innovation - National Grid is committed to investing in innovative technologies, having announced a $100 million investment in AI technologies and startups, building on a previous investment of $150 million [5]. - The company aims to transform its networks to provide more reliable and resilient energy solutions, aligning with state climate goals and reducing greenhouse gas emissions [6].