Exhibit 99

PG&E Corporation

BUSINESS UPDATE March 17, 2017

Forward-Looking Statements

Statements contained in this slide presentation regarding PG&E Corporation’s projected rate base and dividend grow th, electric vehicle-related grow th opportunities, planned investments, projected capital expenditures, w eighted average rate base, dividend policy, potential tax reform, and other statements and assumptions that are not purely historical constitute forw ard-looking statements that reflect management’s current expectations and are based on management’s judgments and opinions. These statements are necessarily subject to various risks and uncertainties, the realization or resolution of w hich may be outside management’s control. PG&E Corporation and the Utility are not able to predict all the factors that may affect future results. Factors that could cause actual results to differ materially include, but are not limited to: the timing and outcomes of the 2017 GRC, the TO rate case, the cost of capital proceeding, and other ratemaking and regulatory proceedings; the amount and timing of costs related to Butte fire litigation, the extent to which such costs can be recovered through insurance, and whether additional investigations and proceedings in connection with Butte fire w ill be opened; the timing and outcomes of (i) the CPUC’s investigation of communications between the Utility and the CPUC that may have violated the CPUC’s rules regarding ex parte communications or are otherwise alleged to be improper, or a potential settlement in connection with this proceeding, and (ii) the U.S. Attorney’s Office in San Francisco and the California Attorney General’s office investigations in connection with communications between the Utility’s personnel and CPUC officials; the terms of probation and the monitorship imposed in the sentencing phase of the Utility’s federal criminal trial, the timing and outcomes of the debarment proceeding, the SED’s unresolved enforcement matters relating to the Utility’s compliance with natural gas-related law s and regulations, and other investigations that have been or may be commenced relating to the Utility’s compliance with natural gas-related law s and regulations, and the ultimate amount of fines, penalties, and remedial and other costs and remedial measures that the Utility may incur as a result; the outcomes of the SED’s investigations of potential violations identified through audits, investigations, or self-reports; the Utility’s ability to control its costs within the authorized levels of spending, and successfully implement a streamlined organizational structure and achieve project savings, and the extent to which the Utility incurs unrecoverable costs that are higher than the forecasts of such costs; changes in cost forecasts or the scope and timing of planned work resulting from changes in customer demand for electricity and natural gas or other reasons; the impact that reductions in customer demand for electricity and natural gas have on the Utility’s ability to make and recover its investments through rates and earn its authorized return on equity, and whether the Utility is successful in addressing the impact of growing distributed and renew able generation resources, changing customer demand for natural gas and electric services, and an increasing number of customers departing for community choice aggregators; whether the Utility can continue to obtain insurance and whether insurance coverage is adequate for future losses or claims, especially following a major event that causes widespread third-party losses; disruptions and delays, if any, in nuclear fuel supply and related services by our sole source of nuclear fuel assemblies Westinghouse Electric Company, LLC (“WEC”), delays in connection with the Diablo Canyon outage and refueling, and adverse changes in contracts with WEC, if any; the ability of PG&E Corporation and the Utility to access capital markets and other sources of debt and equity financing in a timely manner on acceptable terms, and the amount and timing of additional common stock and debt issuances by PG&E Corporation; changes in estimated environmental remediation costs, including costs associated with the Utility’s natural gas compressor sites; the impact of the corporate tax reform considered by the new federal administration and the outcome of federal or state tax audits and the impact of any changes in federal or state tax law s, policies, regulations, or their interpretation; the impact of changes in GAAP, standards, rules, or policies, including those related to regulatory accounting, and the impact of changes in their interpretation or application; and the other factors disclosed in PG&E Corporation and the Utility’s joint Annual Report on Form 10-K for the year ended December 31, 2016 and their other filings with the Securities and Exchange Commission. The statements in this presentation are made as of March 17, 2017 and PG&E Corporation undertakes no obligation to update information contained herein. This presentation was attached to PG&E Corporation’s Current Report on Form 8-K that was furnished to the Securities and Exchange Commission on March 17, 2017 and is also available on PG&E Corporation’s website at www.pgecorp.com.

Well-positioned to Deliver Strong Returns A Strengthened Company Significant safety, reliability and operational improvements Improved customer satisfaction Key Advantages One of the greenest utilities in the country Constructive regulatory and policy environment Multiple infrastructure investment drivers Robust Growth Profile State policies support strong cap ex and ratebase growth Resumed dividend growth growth Healthy profile 3-year ~6.5-7% ratebase growth Above average dividend growth See the Forward Looking Statements for factors that could cause actual results to differ materially from the guidance presented and underlying assumptions.

Agenda A strengthened company Key advantages Robust growth profile

PG&E System At a Glance 2016 Revenue Sources General Rate Case ~45% Pass-through ~45% Gas Electric Transmission & Storage Transmission ~3% ~7% California Public Utilities Commission Federal Energy Regulatory Commission Key Highlights Employees ~24,000 Californians served ~16M Net income (2016) ~$1.4B Ratebase (2016) ~$32.4B Miles of electric lines ~160,000 Miles of natural gas pipelines ~50,000 MW utility-owned generation ~7,700 GWh electricity generated and procured ~68,500 Carbon-free and renewable energy delivered ~70%

Safety Forms the Foundation of Operational and Financial Success Strong Operational and Financial Results Leadership Significant utility leadership experience on the Board and executive team Transparency Developed industry-leading public safety dashboard Incentives 50% of short-term variable compensation tied to safety performance Culture Embraced a continuous improvement mindset and speak-up culture Demonstrated commitment to safety and compliance at all levels

Improved Safety and Reliability Gas Metrics ~40% Reduction in Emergency Response Time(1) 33.3 ~40% 20.0 2010 2016 >99% Reduction in Leak Backlog(2) 12,200 >99% 52 2010 2016 40% Reduction in Dig-ins(3) 3.5 ~40% 2.1 2010 2016 Major Progress from 2010-2016: Achieved international certifications in gas safety excellence programs Replaced 645+ miles of transmission and distribution pipeline Hydrotested 835+ miles of transmission pipeline Made 750+ miles transmission pipeline capable of in-line inspection Installed 268 automated valves (1) Emergency response time recorded in minutes; (2) Open Grade 2 and 2+ leaks; (3) Third party damages per 1,000 Underground Service Alert (USA) tickets.

Improved Safety and Reliability Electric Metrics 911 Emergency Response(1) 3Q 1Q ~50% 98% 65% 2010 2016 System Average Interruption Duration Index(2) 3Q 2Q ~30% 157.2 109.0 2010 2016 Customer Experiencing Multiple Interruptions(3) 2Q 2Q 3.31% ~40% 2.10% 2010 2016 Major Progress from 2010-2016: Delivered 6 Years of record-setting electric reliability ~$14 billion investment in transmission and distribution asset enhancements Completed deployment of ~10 million SmartMeters Upgraded ~80% of our targeted circuits (1) Percentage of time PG&E personnel are on-site within 60 minutes of receiving a 911 electric-related call; (2) Average outage duration experienced by all customers served measured in minutes; (3) Percentage of customers experiencing 5 or more sustained interruptions over the past rolling 12 months (includes both planned & unplanned outages).

Customer Satisfaction has Improved Each Year Since 2012 800 J.D. Power Survey Results, 2011-2017 Gas Business 2nd Quartile Electric Business 750 1st Quartile 700 Gas Residential 4th Quartile Electric Residential 2nd Quartile 650 600 2011 2012 2013 2014 2015 2016 2017 Unwavering commitment to customer satisfaction

Projected Strong Growth Ratebase ($ in B) Dividend ~60% ~6.5-7% Payout CAGR Ratio ~$39B + ~8% ~$34.4B $1.96 $1.82 2017 2019 2015 2016 2019 Ratebase Range See the Forward Looking Statements for factors that could cause actual results to differ materially from the guidance presented and underlying assumptions.

Agenda A strengthened company Key advantages Robust growth profile

Key Strengths 1 One of the greenest utilities in the country 2 Constructive regulatory framework 3 California clean energy policies 4 Multiple infrastructure investment drivers

KEY S T R E N G T H # 1 : O N E O F T H E G R E E N E S T U T I L I T I E S I N T H E C O U N T R Y Focused on Sustainability Nearly 2x More Carbon Free and Renewable Shaping California Model for Energy Efficiency Energy Than The U.S. Average in 2016 69% 36% PG&E U.S. Avg RPS GHG Free *Source: US Energy Information Administration PG&E Customers Lead the Nation in Clean Technology Adoption More than 100,000 electric ~800 GWh/yr of efficiency >280,000 solar customers vehicles savings Ranked #1 with ~25% of all Ranked #1 with ~20% of Ranked #2 among U.S. rooftop solar all U.S. vehicles U.S. utilities

KEY S T R E N G T H # 2 : C O N S T R U C T I V E R E G U L AT O R Y F R A M E W O R K California’s Regulatory Mechanisms Revenues decoupled from sales Balancing accounts reduce cost volatility Forward-looking test year rate cases Risk-informed rate making Separate cost of capital proceeding PG&E’s industry-leading risk management aligns with CPUC safety focus

KEY S T R E N G T H # 3 : C A L I F O R N I A C L E A N E N E R G Y P O L I C I E S California’s Climate Goals California Greenhouse Gas Reduction Goals California is Targeting: and Historic Emissions* Million metric tons CO2e 600 50% Historic Emissions AB 32 requires renewables by California to return to 2030 500 1990 levels by 2020 Industrial 400 SB 32 requires at 2X Electricity least 40% below 1990 300 Generation levels by 2030 energy efficiency buildings in existing by 2030 200 Transportation 100 1.5M Res. & Comm. electric vehicles Ag. & Forestry by 2025 0 2000 2005 2010 2015 2020 2025 2030 PG&E is a critical partner in achieving California’s clean energy goals

*Source: California Air Resources Board

KEY S T R E N G T H # 3 : C A L I F O R N I A C L E A N E N E R G Y P O L I C I E S Electric Vehicles Present Growth Opportunities Projected EV Landscape EV Options Continue to Grow Number of Electric Vehicle Models 600K 33 meets EVs on zero-emission PG&E’s grid in vehicles 2025 if goal California 16 5 4:1 2011 2013 2016 Ideal chargers ratio to of enable EVs to access public and workplace EV Infrastructure Investments $109M in spend over 3 years Largest utility deployment in US 50% supporting light-duty vehicles Up to $211M over 5 years electricity The average of aEV typical consumes home each about year half the Pending request to support medium and heavy-duty electrification and public charging Continued EV adoption creates sustainable growth opportunities See the Forward Looking Statements for factors that could cause actual results to differ materially from the guidance presented and underlying assumptions.

K E Y S T R E N G T H # 4 : M U L T I P L E I N F R A S T R U C T U R E I N V E S T M E N T D R I V E R S California Policies Drive Infrastructure Investment Gas investments (e.g., pipeline Safety replacement, in-line inspection and capability) Reliability Electric investments (e.g., substation upgrades, cable upgrades) Generation asset upgrades Sustained Investments Enabling Grid modernization California’s Renewable integration projects Clean Energy Energy efficiency programs Economy Energy storage options Electric vehicle infrastructure State infrastructure modernization (e.g., rail and water projects)

Agenda A strengthened company Key advantages Robust growth profile

Focus Areas for Growth 1 Enhance safety and reliability 2 Enable California’s clean energy economy 3 Ensure customer affordability PG&E’s operating plan provides a strong foundation for future success

G R O W T H F O C U S # 1 : E N H A N C E S A F E T Y A N D R E L I A B I L I T Y Continue to Upgrade Our System % of Gas Annual Projected % Penetration of % of Urban Transmission Miles of Gas Distribution Automated Switches in Substations Upgraded System Piggable Main Replacement Urban Areas ~65% ~170 ~45% ~85% 126 33% 54% 26% 15% 27 5% 7% 2010 2016 2026 2010 2016 2019 2010 2016 2019 2010 2016 2019 Investments to systematically modernize infrastructure See the Forward Looking Statements for factors that could cause actual results to differ materially from the guidance presented and underlying assumptions.

G R O W T H F O C U S # 2 : E N A B L E C A L I F O R N I A’ S C L E A N E N E R G Y E C O N O M Y Grid Modernization Will Require Significant Investment Grid Control and Monitoring Distributed Energy Resources Grid Data Analytics Increased remote control and Bi-directional energy flows and Advanced analytics enhance sensor technology reduce outages voltage fluctuations require decision making, improve and enable self-healing grid integration investments operations and reduce cost Grid Storage Electric Vehicles Increased Renewables Energy Efficiency and Enables renewable Requires expanded Requires transmission Demand Response integration infrastructure for integration Help manage customer costs light, medium, and heavy-duty EVs Over $1 billion in planned grid modernization investments through 2020 See the Forward Looking Statements for factors that could cause actual results to differ materially from the guidance presented and underlying assumptions. 21

G R O W T H F O C U S # 3 : E N S U R E C U S T O M E R A F F O R D A B I L I T Y PG&E Bills Lower Than the National Average PG&E Average Residential Bills Are PG&E’s Electric Bundled Rates Have 30% Below National Average Grown In Line With Inflation $200 20.0¢ USA $150 ~30% 16.0¢ 12.0¢ $100 8.0¢ $50 4.0¢ $0 0.0¢ 2015 1991 1996 2001 2006 2011 2016 Actual Electric Bundled Rate PG&E Service Territory CPI Continued focus on keeping customer bills affordable

G R O W T H F O C U S # 3 : E N S U R E C U S T O M E R A F F O R D A B I L I T Y Strategies to Manage Declining Load Flexible Electric Portfolio Constructive Regulatory Mechanisms ~40% MW of hs procured under no Revenues decoupled from sales obligations contractual in 2021 Utility-Owned Generation Procured ~45% ~55% Cost allocation mechanisms for departing customers Modernizing Rate Structures Focus on Continuous Improvement Process Standardization CPUC Distributed Energy Resources Action Plan Fixed/ Sustainable Residential Time of Use Net Energy Demand Efficiencies Rate Design Rates Metering Charges Procurement Leveraging Efficiencies Technology

GO I N G F O R W A R D Well-Positioned for Industry Changes Industry Changes PG&E Strategies Integrate renewables and distributed energy resources Decarbonized Enable electric vehicle adoption Economy Expand energy storage options Enhance energy efficiency programs Flexible procurement portfolio Constructive regulatory mechanisms Customer Choice Modernize rate structures Sustainable efficiencies

Three-year Financial Outlook 1 Cap ex growth 2 Ratebase growth 3 Dividend growth and policy

Robust Cap Ex Supports Strong Returns Capital Expenditures ($ in B) 2016-2019 $5.8B ~$6B ~$6B ~$6B 2016 Recorded 2017 2018 2019 General Rate Case Gas Transmission & Storage Electric Transmission Owner Range See the Forward Looking Statements for factors that could cause actual results to differ materially from the guidance presented and underlying assumptions.

Ratebase Supports Strong Returns Weighted Average Ratebase ($ in B) Base Case Assumptions 2016-2019 2017 General Rate Case settlement through 2019 2015 Gas Transmission & Storage rate case ~6.5-7% – Phase 2 decision through 2018; flat in 2019 CAGR ~$39B – ~$400M for 2011-2014 spend subject to audit added in 2018 ~$34.4B ~$37B Transmission Owner rate case $32.4B – High end: TO18 filing held flat through 2019 – Low end: TO17 settlement held flat through 2019 Electric Vehicle Infrastructure decision in December 2016 Potential Future Updates 2019 Gas Transmission & Storage rate case 2018 and 2019 Transmission Owner rate cases Future competitive transmission opportunities State infrastructure modernization (e.g., rail and water projects) 2016 2017 2018 2019 Future storage opportunities Future transportation electrification (e.g., January 2017 General Rate Case Gas Transmission & Storage medium and heavy duty vehicle filing) Electric Transmission Owner Range New gas storage regulations See the Forward Looking Statements for factors that could cause actual results to differ materially from the guidance presented and underlying assumptions.

Dividend Policy Supports Strong Total Shareholder Return + ~8% ~60% Payout Ratio $1.96 $1.82 2015 2016 2019 Targeting 55-65% payout ratio over time See the Forward Looking Statements for factors that could cause actual results to differ materially from the guidance presented and underlying assumptions.

I N S U M M A R Y Solid Growth Strategy Positions PG&E for Success A Strengthened Company Significant safety, reliability and operational improvements Improved customer satisfaction growth Healthy profile 3-year Key Advantages One of the greenest utilities in the country ~6.5-7% ratebase Constructive regulatory and policy environment growth Multiple infrastructure investment drivers Above average dividend growth Robust Growth Profile State policies support strong cap ex and ratebase growth Resumed dividend growth See the Forward Looking Statements for factors that could cause actual results to differ materially from the guidance presented and underlying assumptions.

Appendices

Table of Contents Appendix 1: Leadership Bios Slides 32 – 38 Appendix 2: Supplemental Material on Tax Reform Slide 39 Appendix 3: Overview of Key Regulatory Cases Slides 40 – 48 Appendix 4: Breakdown of 2016 Total Revenue Requirement Slide 49 Appendix 5: Description of Gas System Certifications Slide 50 Appendix 6: Credit Metrics and Ratings Slide 51

A PPEN D I X 1 – L E A D E R S H I P B I O S Geisha J. Williams Geisha J. Williams Chief Executive Officer (CEO) and President PG&E Corporation Geisha J. Williams was elected CEO and President of PG&E Corporation, effective March 1, 2017. Williams has more than three decades of experience in the utility industry. Williams and her team are responsible for the end-to-end delivery of safe, reliable, affordable and clean electricity and gas to 16 million people in northern and central California. Her focus on renewables integration, grid modernization and smart grid technologies has resulted in PG&E customers benefitting from the best electric reliability in company history while also receiving energy that is nearly 70 percent greenhouse gas free. Williams previously was the Utility’s President, Electric (August 2015 – February 2017) and Executive Vice President, Electric Operations (June 2011 to August 2015). In her role as President, Williams led all aspects of the Utility’s electric business, including power generation, nuclear operations, transmission, distribution, and substation operations, asset management and strategy, energy procurement and customer care. Before joining PG&E, Williams worked at Florida Power and Light (FPL) for 24 years. She served in a number of roles during her tenure there including Vice President of Power Systems, Electric Distribution. In this role, she was responsible for all aspects of the electric distribution infrastructure serving FPL’s 4.4 million customers, including asset management and planning, engineering, construction, maintenance and restoration. During her time at FPL, she considers the company’s restoration and recovery efforts in response to seven hurricanes that made landfall in a 15-month period as one of her proudest accomplishments. Williams is a director at the Edison Electric Institute, the Institute of Nuclear Power Operations, and the Association of Edison Illuminating Companies. She also serves as the board chair for the Center for Energy Workforce Development and is an active participant in Executive Women in Energy. Her involvement with the community includes serving as a trustee of the California Academy of Sciences and a member of the University of Miami President’s Council. She is a five-time recipient of the Bay Area Most Influential Women in Business Award, and in 2014 she was honored with Leadership California’s Trailblazer Award. Williams holds a bachelor’s degree in engineering from the University of Miami and a master’s degree in business administration from Nova Southeastern University.

She lives in the Bay Area with her family.

A PPEN D I X 1 – L E A D E R S H I P B I O S Nick Stavropoulos Nick Stavropoulos President & Chief Operating Officer Pacific Gas and Electric Company Nick Stavropoulos serves as President and Chief Operating Officer of Pacific Gas and Electric Company and has more than 35 years of experience in the U.S. and international energy industry. He oversees a diverse workforce of more than 23,000 employees across electric, gas, generation and nuclear operations as well as corporate support functions. He also serves on the utility’s board of directors. Today, he and his team are responsible for the end-to-end delivery of safe, reliable, affordable and clean electric and gas service to 16 million people across PG&E’s 70,000 square mile service area in northern and central California. PG&E’s energy portfolio is one of the cleanest in the nation with more than 60 percent of its portfolio coming from carbon-free energy sources. Stavropoulos is a passionate advocate for workplace safety and safety culture. Under his leadership, PG&E’s gas business has earned or qualified for international certifications including ISO 55000; PAS 55001; API RP 1173; and RC 14001. PG&E is the only North American utility to currently hold these third party certifications. Prior to joining PG&E, Stavropoulos served as Executive Vice President and Chief Operating Officer for National Grid, an electricity and natural gas delivery company serving nearly seven million customers in the Northeast United States. As COO, he was responsible for all aspects of its U.S. gas distribution business. Throughout his career, he held a number of senior leadership positions with successive levels of responsibility, including Chief Financial Officer, at Keyspan’s predecessor companies – Colonial Gas Company and Boston Gas. Stavropoulos is an internationally sought after speaker on the topics of leadership and safety culture. In recent years, he has delivered keynote speeches at the International Atomic Energy Agency; National Safety Council’s Campbell Institute; Institute of Engineering and Technology/The Institute of Asset Management Conference; International Safety Culture Symposium; and Global Safety Culture Conference. Stavropoulos is a member of the Board of Directors for the American Gas Association, Gas Technology Institute as well as a member of the Advisory Board for Underwriters Laboratory’s Integrated Health and Safety Institute. He holds a bachelor’s degree in accounting from Bentley College and a master’s degree in business administration from Babson College. He sits on the board of his alma mater Bentley University and has served on multiple public and not-for-profit boards including chairing audit committees. A native New Englander, he lives in San Francisco and is an avid Soul Cycler.

A P P E N D I X 1 – L E A D E R S H I P B I O S Anthony F. Earley, Jr. Anthony F. Earley, Jr. Executive Chair PG&E Corporation Anthony F. Earley, Jr., is Executive Chair of the Board of PG&E Corporation. Earley joined PG&E in September 2011 as Chairman, Chief Executive Officer, and President after 17 years at DTE Energy, where he served as Executive Chairman, Chairman, and Chief Executive Officer. Since joining PG&E, Earley has spearheaded major initiatives related to safety culture, operational excellence, long-term integrated planning, and workforce development. Under Earley’s leadership, PG&E has experienced the highest reliability in its over 150-year history. PG&E also continues to grow its environmentally friendly generation portfolio, with more than 50 percent of its assets having no carbon emissions. As former chairman of the Edison Electric Institute (EEI), the trade association of investor utilities, Earley was directly involved in the development of national policies on energy, the environment, and climate change issues. In 2014, Earley received EEI’s Distinguished Leadership Award for his decades of contributions to the electric power industry. He also served as chair of the Nuclear Energy Institute. Earley earned a Bachelor of Science degree in physics, a Master of Science degree in engineering, and a law degree at the University of Notre Dame, where he serves on the advisory council of the College of Engineering. After graduating from Notre Dame, Earley went on to serve as an officer in the United States Navy nuclear submarine program, where he was qualified as a chief engineer officer. He joined DTE Energy as president and chief operating officer in March 1994. Prior to joining DTE Energy, Earley served in various capacities at Long Island Lighting Company, including president and chief operating officer. He was also a partner at the Hunton & Williams law firm. Earley serves on the executive committees of the Edison Electric Institute and the Nuclear Energy Institute and is a board member of the Electric Power Research Institute. He is also on the board at Ford Motor Company. His commitment to the community includes memberships on the boards of United Way Bay Area, The Exploratorium, a science, arts, and human perception museum based in San Francisco, and the Bay Area Council. Earley was named 2015 Philanthropic CEO of the Year by the American Red Cross of the Bay Area. His community service was also recognized by readers of The Detroit News, and in 2003 he was selected as one of the several Michiganians of the Year.

A PPEN D I X 1 – L E A D E R S H I P B I O S Jason P. Wells Jason P. Wells Senior Vice President and Chief Financial Officer PG&E Corporation Jason P. Wells is Senior Vice President and Chief Financial Officer for PG&E Corporation. Wells oversees the financial activities of the $50 billion company including accounting, treasury, tax, risk, business and financial planning, and investor relations. Wells began his career at PricewaterhouseCoopers, LLC, where he was most recently a senior manager. In 2007, Wells joined PG&E as the Director of technical accounting and was promoted to Senior Director and Assistant Controller of corporate accounting in 2008. In 2011, Wells became Vice President, Finance. He assumed his current position on January 2016. He earned his bachelor’s and master’s degrees in accounting from the University of Florida. Wells is a Certified Public Accountant in the state of Florida. He currently serves as the Treasurer and on the board of Habitat for Humanity Greater San Francisco.

A PPEN D I X 1 – L E A D E R S H I P B I O S Patrick M. Hogan Patrick M. Hogan Senior Vice President of Electric Operations Pacific Gas and Electric Company Patrick M. Hogan is Senior Vice President of Electric Operations at Pacific Gas and Electric Company. Hogan oversees PG&E’s electric transmission and distribution system, which delivers safe and reliable energy to more than 16 million people throughout Northern and Central California. In addition to his electric responsibilities, Hogan has enterprise-wide responsibility for PG&E’s Transportation Services organization, managing over 14,000 vehicles and pieces of equipment. Prior to his promotion to Senior Vice President of Electric Operations in 2016, Hogan served as Vice President of Electric Strategy & Asset Management where he oversaw the company’s electric transmission and distribution assets. Hogan also led the development and deployment of technology into PG&E’s electric system. Before joining PG&E in 2013, Hogan held leadership and officer roles in transmission, distribution, operations, engineering and asset management at British Columbia Hydro, National Grid, and KeySpan. Originally from New York, Hogan holds a bachelor’s and master’s degree in electrical engineering from Manhattan College and a master’s degree in business administration from Hofstra University. His community involvement includes serving on the board of the San Francisco Ballet, and he currently resides in San Francisco.

A P P E N D I X 1 – L E A D E R S H I P B I O S Jesus Soto Jr. Jesus Soto Jr. Senior Vice President, Gas Operations Pacific Gas and Electric Company Jesus Soto Jr. is the Senior Vice President of Gas Operations for Pacific Gas and Electric Company. He is responsible for overseeing and executing the day-to-day operations of the second largest natural gas system in the United States. PG&E’s natural gas system provides safe, reliable, affordable and clean gas service to 16 million people in northern and central California. Soto is passionate about public and employee safety and PG&E’s Gas Operations earned ISO 55000 and PAS 55001 international certifications for the company’s enhancements in gas asset management. PG&E is the only North American utility to currently hold these third party certifications. Through his leadership, PG&E was the first utility to deploy a state-of-the-art leak detection technology that is 1,000 times more sensitive than conventional leak detection tools. Soto’s commitment to safety has led to a significant reduction in the time it takes PG&E to respond to gas odor calls. Most recently, Soto served as Vice President of Operations Services for El Paso Corporation’s Pipeline Group in Houston, TX. He led the technical services and support functions for pipeline operations and oversaw measurement, compression, reservoir and pipeline systems and Department of Transportation compliance. He was also responsible for risk and integrity management, public awareness and emergency response. Prior to that, Soto was vice president of engineering and construction, leading the engineering and construction programs for ANR Pipeline, El Paso Natural Gas, Colorado Interstate Gas, Southern Natural Gas and Tennessee Gas Pipeline for onshore and offshore facilities. Soto holds a Bachelor of Science in civil engineering from the University of Texas at El Paso, a master’s degree in civil engineering from Texas A&M University, and a Master of Business Administration degree from the University of Phoenix.

A PPEN D I X 1 – L E A D E R S H I P B I O S David S. Thomason David S. Thomason Vice President and Controller PG&E Corporation Vice President, Chief Financial Officer and Controller Pacific Gas and Electric Company David S. Thomason is Vice President and Controller of PG&E Corporation, as well as Vice President, Chief Financial Officer and Controller of Pacific Gas and Electric Company. Thomason joined PG&E in 2001 as a senior accounting analyst after starting his career with Arthur Andersen in Portland. During his 16 years at PG&E, he has held a multitude of roles, growing as a leader and gaining additional responsibilities with each new position. Functional areas he has overseen include external financial reporting, revenue forecasting, planning and analysis, corporate accounting and more. Thomason received a Master’s degree in Business Administration from University of California, Berkeley, and a Bachelor’s degree in Accounting from University of Oregon, Eugene. He holds registrations as a Certified Public Accountant in the states of California and Oregon.

A PPEN D I X 2 – S u p p l e m e n t a l M a t e r i a l o n Ta x R e f o r m Tax Reform Helps Affordability and Creates Potential for Future Investments 1. Lower Corporate Tax 2. Loss of Interest 3. Full Expensing of Rate Expense Deduction Capital Expenditures Utility Excess deferred taxes flow Higher costs borne by Minimal near-term impact back to customers customers given net operating loss Lower net cost of service Reduced ratebase growth in revenues going forward the future Holding Reduction in deferred tax Limited impact due to low Company asset – shareholder impact outstanding debt balances Net Deferred Tax Liability (Asset) (millions, pre-tax) Holding Utility as of December 31, 2016 Company Property-related and other $ 12,110 $ (50) Operating loss carryforward (1,600) (250) Net deferred tax liability (asset) $ 10,510 $ (300) See the Forward Looking Statements for factors that could cause actual results to differ materially from the guidance presented and underlying assumptions.

A PPEN D I X 3 – O V E R V I E W O F K E Y R E G U L AT O R Y C A S E S Separate Rate Cases Maintain Focus on Specific Assets General Rate Gas Transmission Transmission Case and Storage Case Owner Case Regulatory Jurisdiction CPUC CPUC FERC Time Period of 2017-2019 2015-2017 2017 Current Rate Case Revenue Requirement $8.0B (1) $1.3B $1.7B (2) ROE (2017) 10.4% 10.4% 10.9% (3) Final decision Implementation of FERC Settlement Key Next Steps anticipated in GT&S decisions Conferences Q2 2017 (1) All-party settlement agreement (2) Requested amount (3) FERC TO cases have typically been settled black box without an explicit ROE; FERC ROE is inclusive of 50 basis points adder. PG&E’s objective is to earn the CPUC authorized 10.4% ROE across the enterprise

A PPEN D I X 3 – O V E R V I E W O F K E Y R E G U L AT O R Y C A S E S 2017 CPUC General Rate Case September 1, 2015 – Filed CPUC application requesting 2017—2019 revenues August 3, 2016 – Filed all-party settlement agreement ? February 27, 2017 – ALJ issued proposed decision adopting the settlement agreement with modifications Revenue Requirement Settlement Agreement Proposed Decision Difference ($ millions) Increase/(Decrease) Increase/(Decrease) (Decrease) 2017 $ 88 $ 86 ($ 2) 2018 $ 444 $ 444 $ 0 2019 $ 361 $ 361 $ 0 2020 $ 361 N/A N/A Modifications to the settlement included: —A broader tax memorandum account to track any differences between forecasted income tax expense and actual income tax expense—A $24 million increase in capital expenditures to fund Rule 20A undergrounding work—A requirement that PG&E submit a stand-alone application to recover customer outreach and other costs incurred as a result of rate reform implementation The leak PD management also would requirements, deny the third arguing attrition that year both and should the proposed be considered new balancing in other account proceedings for gas Comments on the PD are due March 20, 2017, and reply comments are due March 27, 2017; the earliest the CPUC to issue a final decision is April 6, 2017 Assigned Commissioner: Picker Administrative Law Judge: Roscow

A PPEN D I X 3 – O V E R V I E W O F K E Y R E G U L AT O R Y C A S E S 2015 CPUC Gas Transmission and Storage Rate Case December 1, 2016 – CPUC voted out a final Phase 2 decision consistent with proposed decision Revenue Utility Requested Phase 2 Decision Difference Requirement Revenue Revenue Requirement (Decrease)* ($ millions) Requirement 2015 $ 1,263 $ 815 ($ 448) 2016 $ 1,346 $ 1,061 ($ 285) 2017 $ 1,488 $ 1,125 ($ 363) 2018 $ N/A $ 1,230 $ N/A Assigned Commissioner: Peterman Administrative Law Judge: Dudney *Difference compares Utility Requested Revenue Requirement to Phase 2 Decision Revenue Requirement

A PPEN D I X 3 – O V E R V I E W O F K E Y R E G U L AT O R Y C A S E S FERC Transmission Owner Rate Case TO18 (2017 Revenues) July 29, 2016 – Filed TO18 with FERC requesting $1.7 billion revenue requirement, a $400 million increase over approved TO17 ROE (inclusive of 50 basis points adder) 10.90% Cap ex ~$1.3B WAVG Ratebase ~$6.7B TO19 (2018 Revenues) TO19 case expected to be filed in mid to late summer

A PPEN D I X 3 – O V E R V I E W O F K E Y R E G U L AT O R Y C A S E S Distributed Resources Distributed Energy Resources (DER) Action Plan In December 2016, the CPUC adopted a DER Action Plan which is intended to be a roadmap to coordinate the development of DER policy across proceedings in three areas:—Rates and tariffs—Distribution grid infrastructure, planning, interconnection and procurement—Wholesale DER market integration and interconnection Distribution Resources Plan (DRP) DRP proceeding is about integrating cost effective DERs into the utility’s planning, operations, and investment decisions; the DRP proceeding is evaluating criteria for grid modernization investments, a framework for how to incorporate DER solutions into our distribution capital plans, as well as DER adoption forecasting processes In February 2017, the CPUC authorized pilot projects to test and evaluate the ability of DERs to operate at high penetration and achieve locational benefits Integrated Distributed Energy Resources (IDER) The IDER proceeding is examining how to create sourcing options that encourage DER deployment to areas and times of most value to the grid, and is considering DER valuation and cost-effectiveness in addition to piloting a utility incentive mechanism In February 2017, the CPUC staff issued a paper proposing methodologies for applying a “societal cost test” to the utilities’ various DER programs; PG&E and others will comment by the end of March

A P P E N D I X 3 – O V E R V I E W O F K E Y R E G U L AT O R Y C A S E S CPUC Cost of Capital Trigger Mechanism Structure and Cost Moody’s Baa Utility Index 7% Capital 2017 2018-19 Structure Cost Cost (1)(2) 6% Common Equity 52% 10.40% 10.25% Preferred Stock 1% 5.60% TBD (3) 5% Long-Term Debt 47% 5.52% TBD (3) 4% PG&E Benchmark Weighted Average Cost of Capital 8.06% TBD rate at 5.00% 3% 10/1/11 10/1/12 10/1/13 10/1/14 10/1/15 10/1/16 On February 7, 2017, PG&E, the other California IOUs, TURN, and ORA jointly filed a petition to modify our 2018 and 2019 cost of capital and extend the deadline for filing our next application; the petition is pending Under the terms of our agreement, the trigger mechanism would be suspended through 2018 Should the extension be approved, the next cost of capital application is expected to be filed in April 2019 (1) The 2018-2019 cost of common equity is pending approval at the CPUC (2) 2019 is subject to trigger mechanism (3) The long-term debt and preferred stock cost w ill be reset later in the year to reflect actual embedded costs as of the end of August 2017 and forecasted interest rates for the new long-term debt scheduled to be issued for the remainder of 2017 and all of 2018 45

A PPEN D I X 3 – O V E R V I E W O F K E Y R E G U L AT O R Y C A S E S Electric Vehicle Infrastructure Light Duty Electric Vehicle Infrastructure December 15, 2016 – CPUC voted out a final decision authorizing $130M of spend ($109M capital, $21M expense) Medium to Heavy-Duty Transportation Electrification January 20, 2017 – Filed CPUC application requesting approval of up to $253M in costs ($211M capital, $42M expense) for 3 programs to support transportation electrification for medium to heavy-duty vehicles and public fast charging Capital Investment ($ millions) (1) Year 1 Year 2 Year 3 Year 4 Year 5 Total Electric Vehicle Infrastructure $32 $32 $40 $47 $60 $211 (1) Annual proposed breakdow n results may vary

A P P E N D I X 3 – O V E R V I E W O F K E Y R E G U L AT O R Y C A S E S Energy Storage Energy Storage RFO CPUC Storage Rulemaking (R.10-12-007) established 1,325 MW target for all IOUs (580 MW target for PG&E) by 2024 with up to 50% utility ownership of transmission and distribution projects; first projects expected to come on line in May 2017 CPUC’s Decision establishes biennial procurement targets, including 4 solicitations December 1, 2016 – Second solicitation was issued, targeting 120 MWs: ? Transmission 65 MW ? Distribution 40 MW ? Customer 15 MW AB 2868 California Legislature passed AB 2868, which allows for an incremental 500 MW of storage, allocated equally across the three IOUs Legislation authorizes additional storage and allows for utility ownership

A PPEN D I X 3 – O V E R V I E W O F K E Y R E G U L AT O R Y C A S E S Residential Rate/NEM Decisions Residential Rate Design OIR Decision The CPUC reviewed residential rate structure and issued a decision in July 2015 which: Transition from 4 to 2 tiers by 2019, with 1:1.25 ratio; Currently at 2 tiers, with 1:1.38 ratio “High Usage Surcharge” added in 2017 for consumption at or above 400% of baseline No fixed charges in near-term, but adopts a $10 minimum bill for non-CARE customers Requires the IOUs to file TOU rate proposals by January 2018, with pilots in 2016 NEM 2.0 The CPUC largely left NEM 1.0 rates in place, although its decision requires NEM 2.0 customers to take service under one of PG&E’s current TOU rates and to pay non-bypassable charges and small interconnection fees In December 2016, PG&E passed its NEM cap ? The CPUC has stated it will review NEM in 2019 Time of Use Rates In the DER Action Plan, the CPUC affirmed its intention to implement default TOU rates for all residential customers in 2019 Currently, PG&E has an opt-in TOU rate schedules available to customers; the peak for one is 4pm—9pm, and the other is 3pm—8pm transitioning to 4pm—9pm in 2020 PG&E January will 1, file 2018; our the default peak TOU period rate for proposal, default rates with a in number 2019 is of expected TOU options, to be from with 4-9 the pm CPUC by

A PPEN D I X 4 Breakdown of 2016 Total Revenue Requirement Revenue Requirement 2016 Revenue Requirement Component ($ in M) General Rate case (Distribution and 56% Base Generation) Includes costs to own and ~$9,900 M Gas Transmission operate our assets and Storage Earning the authorized rate of return depends on ability to manage costs Electric Transmission within rate case outcomes Purchased Gas Costs 31% Procurement ~$5,500 M Energy Resource Pass Through Recovery Account 13% Public Purpose ~$2,250 M Public Purpose Programs Programs and Other 2016 Revenue Pass Through ~$17,650 M Requirement

A PPEN D I X 5 Description of Gas System Safety Recognition ISO 55001 ISO (International Organization for Standardization) 55001 enables the development of an effective asset management system so that an organization can achieve its objectives consistently and sustainably over time. ISO consists of members from the national standards bodies of 162 countries and has published more than 19,500 international standards. PAS 55 PAS (Publicly Available Specification) 55 is a rigorous specification for optimized management of physical assets with widespread recognition among utilities, transport, mining, process and manufacturing industries worldwide. PAS 55 was developed by the Institute for Asset Management and published by the British Standards Institution. RC 14001 RC (Responsible Care) 14001 is the chemical industry standard issued through the American Chemistry Council (ACC) for process and product safety; community communications; security and safety, health, environmental (SHE) practices. A third party audit reviewed end-to-end safety processes at the company, ultimately approving PG&E as the first utility to secure the certification. API 1173 API RP (American Petroleum Institute Recommended Practice) 1173 outlines specific best practices for safe and effective pipeline operations underpinned by a healthy safety culture. PG&E joined other gas pipeline organizations, along with the National Transportation Safety Board and the Pipeline and Hazardous Materials Safety Administration to help co-author the standard.

A PPEN D I X 6 Credit Metrics and Ratings Fitch Moody’s S&P Pacific Gas and Electric Company Senior Unsecured Debt A A3 BBB+ Short-term Debt F2 P-2 A-2 Outlook Stable Positive Positive PG&E Corporation Senior Unsecured Debt A- Baa1 BBB Short-term Debt F2 P-2 A-2 Outlook Stable Positive Positive