8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 23, 2023

Commission File Number	Exact Name of Registrant as specified in its charter	State or Other Jurisdiction of Incorporation or Organization	IRS Employer Identification Number
1-9936	EDISON INTERNATIONAL	California	95-4137452
1-2313	SOUTHERN CALIFORNIA EDISON COMPANY	California	95-1240335

2244 Walnut Grove Avenue			2244 Walnut Grove Avenue
(P.O. Box 976)			(P.O. Box 800)
Rosemead,	California	91770	Rosemead,	California	91770
(Address of principal executive offices)			(Address of principal executive offices)
(626) 302-2222			(626) 302-1212
(Registrant's telephone number, including area code)			(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ☐ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ☐ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ☐ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ☐ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Edison International:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, no par value	EIX	NYSE	LLC

Southern California Edison Company: None

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company	Edison International	☐
Emerging growth company	Southern California Edison Company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Edison International	☐
Southern California Edison Company	☐

This current report and its exhibits include forward-looking statements. Edison International and Southern California Edison Company ("SCE") based these forward-looking statements on their current expectations and projections about future events in light of their knowledge of facts as of the date of this current report and their assumptions about future circumstances. These forward-looking statements are subject to various risks and uncertainties that may be outside the control of Edison International and SCE. Edison International and SCE have no obligation to publicly update or revise any forward-looking statements, whether due to new information, future events, or otherwise. This current report should be read with Edison International's and SCE's combined Annual Report on Form 10-K for the year ended December 31, 2022. Additionally, Edison International and SCE provide direct links to Edison International and SCE presentations, documents and other information at www.edisoninvestor.com (Presentations and Updates) in order to publicly disseminate such information.

Item  2.02Results of Operations and Financial Condition

On February 23, 2023, Edison International issued a press release reporting its financial results and the financial results for its subsidiary, Southern California Edison Company, for the quarter and year ended December 31, 2022. A copy of the press release is attached as Exhibit 99.1. On the same day, members of Edison International's management will speak to investors via a financial teleconference. Senior management's prepared remarks and accompanying presentation are attached as Exhibit 99.2 and Exhibit 99.3 to this report. The information furnished in this Item 2.02 and Exhibits 99.1, 99.2, and 99.3 shall not be deemed to be “filed” for purposes of the Securities Exchange Act of 1934, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933.

Item  7.01Regulation FD Disclosure

Members of Edison International management will use the information in the presentation furnished as Exhibit 99.3 to this report in meetings with institutional investors and analysts and at investor conferences. The attached presentation will also be posted on www.edisoninvestor.com.

Item  9.01Financial Statements and Exhibits

(d) Exhibits

EXHIBIT INDEX

ebrf
Exhibit No.	Description
99.1	Edison International Press Release dated February 23, 2023
99.2	Edison International Fourth Quarter and Full-Year 2022 Financial Results Conference Call Prepared Remarks dated February 23, 2023
99.3	Edison International Fourth Quarter and Full-Year 2022 Financial Results Conference Call Presentation dated February 23, 2023
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

EDISON INTERNATIONAL

(Registrant)

/s/ Kate Sturgess

Kate Sturgess

Vice President and Controller

Date: February 23, 2023

SOUTHERN CALIFORNIA EDISON COMPANY

(Registrant)

/s/ Kate Sturgess

Kate Sturgess

Vice President and Controller

Date: February 23, 2023

EX-99.1

Exhibit 99.1

		NEWS
FOR IMMEDIATE RELEASE	Investor Relations: Sam Ramraj, (626) 302-2540
	Media Contact: Jeff Monford, (626) 476-8120

Edison International Reports Fourth Quarter and Full-Year 2022 Results

● Fourth Quarter 2022 GAAP earnings per share of $1.09; Core EPS of $1.15

● Full-Year 2022 GAAP EPS of $1.61; Core EPS of $4.63

● Edison International declares quarterly dividend of $0.7375 per share; annualized rate of $2.95 per share

● EIX initiates 2023 EPS guidance of $4.55–4.85

● EIX reiterates long-term EPS growth rate target of 5%-7% for 2021-2025

ROSEMEAD, Calif., Feb. 23, 2023 — Edison International (NYSE: EIX) today reported fourth quarter 2022 net income of $415 million, or $1.09 per share, compared to net income of $523 million, or $1.38 per share, in the fourth quarter of 2021. As adjusted, fourth quarter 2022 core earnings were $437 million, or $1.15 per share, compared to core earnings of $440 million, or $1.16 per share, in the fourth quarter of 2021.

Southern California Edison’s fourth quarter 2022 core earnings per share (EPS) increased year over year, primarily due to higher California Public Utilities Commission (CPUC)-related revenue due to the escalation mechanism as set forth in the 2021 General Rate Case (GRC) final decision, partially offset by higher depreciation expense from increased plant balance and higher net interest expense related to higher rates.

Edison International Parent and Other’s fourth quarter 2022 core loss per share increased year over year, primarily due to higher interest expense and higher corporate expense.

“Edison International posted strong results for 2022, with core EPS in the upper end of our initial guidance range,” said Pedro J. Pizarro, president and CEO of Edison International. “SCE continued its tremendous progress in making its communities safer by reducing wildfire risk. SCE’s approach is differentiated by the speed of its infrastructure hardening, and the utility recently completed its 4,400th mile of covered conductor.”

Pizarro added, “The support for economywide electrification continues to grow nationally and here in California. Rapid electrification expansion sharpens the continued need to make significant grid investments that support California’s leading role in building a carbon-free economy.”

Full-Year Earnings

For 2022, Edison International reported net income of $612 million, or $1.61 per share, compared to $759 million, or

$2.00 per share, for 2021. As adjusted, Edison International’s core earnings were $1,765 million, or $4.63 per share,

compared to $1,741 million, or $4.59 per share, in 2021.

SCE’s full-year core EPS was higher, primarily due to higher CPUC-related revenue due to the escalation mechanism as set forth in the 2021 GRC final decision along with return on rate base approved in applications related to wildfire mitigation capital expenditures and the Customer Service Re-Platform project. These were partially offset by higher operating and maintenance expenses, higher depreciation expense from increased plant balance and higher interest expense.

Edison International Parent and Other’s full-year loss per share increased primarily due to higher preferred dividends.

Edison International uses core earnings internally for financial planning and for analysis of performance. Core earnings are also used when communicating with investors and analysts regarding Edison International’s earnings results to facilitate comparisons of the company's performance from period to period. Please see the attached tables for a reconciliation of core earnings to basic GAAP earnings.

Edison International Reports Fourth Quarter and Full-Year 2022 Financial Results

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2023 Earnings Guidance

The company announced its earnings guidance range for 2023 as summarized in the following chart. See page 14 of the presentation accompanying the company’s conference call for further information and assumptions.

	2023 Earnings Guidance
	as of Feb. 23, 2023
	Low		High
EIX Basic EPS	$	4.55	$	4.85
Less: Non-core Items		–		–
EIX Core EPS	$	4.55	$	4.85

Edison International and Southern California Edison Declare Dividends

Today, the board of directors of Edison International declared a quarterly common stock dividend of $0.7375 per share,

payable on April 30, 2023, to shareholders of record on March 31, 2023. They also declared dividends on preferred

stock. Additionally, the board of directors of Southern California Edison Company today declared dividends on

preference stock. For more information, please see the related news release at www.edisoninvestor.com.

Fourth Quarter and Full-Year 2022 Earnings Conference Call and Webcast Details

When:	Thursday, Feb. 23, 2023, 1:30-2:30 p.m. (Pacific time)
Telephone Numbers:	1-888-673-9780 (US) and 1-312-470-0178 (Int'l) — Passcode: Edison
Telephone Replay:	1-800-839-1334 (US) and 1-203-369-3831 (Int’l) — Passcode: 3491
	Telephone replay available through March 10, 2023 at 6 p.m. (Pacific time)
Webcast:	www.edisoninvestor.com

Edison International has posted its earnings conference call prepared remarks by the CEO and CFO, the teleconference presentation and Form 10-K to the company’s investor relations website. These materials are available at www.edisoninvestor.com.

About Edison International

Edison International (NYSE: EIX) is one of the nation’s largest electric utility holding companies, providing clean and reliable energy and energy services through its independent companies. Headquartered in Rosemead, California, Edison International is the parent company of Southern California Edison Company, a utility that delivers electricity to 15 million people across Southern, Central and Coastal California. Edison International is also the parent company of Edison Energy LLC, a global energy advisory firm engaged in the business of providing integrated decarbonization and energy solutions to commercial, industrial and institutional customers.

Edison International Reports Fourth Quarter and Full-Year 2022 Financial Results

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Appendix

Use of Non-GAAP Financial Measures

Edison International’s earnings are prepared in accordance with generally accepted accounting principles used in the United States and represent the company’s earnings as reported to the Securities and Exchange Commission. Our management uses core earnings and core earnings per share (EPS) internally for financial planning and for analysis of performance of Edison International and Southern California Edison. We also use core earnings and core EPS when communicating with analysts and investors regarding our earnings results to facilitate comparisons of the Company’s performance from period to period. Financial measures referred to as net income, basic EPS, core earnings, or core EPS also apply to the description of earnings or earnings per share.

Core earnings and core EPS are non-GAAP financial measures and may not be comparable to those of other companies. Core earnings and core EPS are defined as basic earnings and basic EPS excluding income or loss from discontinued operations and income or loss from significant discrete items that management does not consider representative of ongoing earnings. Basic earnings and losses refer to net income or losses attributable to Edison International shareholders. Core earnings are reconciled to basic earnings in the attached tables. The impact of participating securities (vested awards that earn dividend equivalents that may participate in undistributed earnings with common stock) for the principal operating subsidiary is not material to the principal operating subsidiary’s EPS and is therefore reflected in the results of the Edison International holding company, which is included in Edison International Parent and Other.

Safe Harbor Statement

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 our expectations only as of the date of this presentation, and Edison International assumes no duty to update them to reflect new information, events or circumstances. Important factors that could cause different results include, but are not limited to the:

● ability of SCE to recover its costs through regulated rates, including uninsured wildfire-related and debris flow-related costs, costs incurred to mitigate the risk of utility equipment causing future wildfires, costs incurred as a result of the COVID-19 pandemic, and increased costs due to supply chain constraints, inflation and rising interest rates;

● ability of SCE to implement its Wildfire Mitigation Plan and capital program;

● risks of regulatory or legislative restrictions that would limit SCE's ability to implement operational measures to mitigate wildfire risk, including Public Safety Power Shutoff ("PSPS") and fast curve settings, when conditions warrant or would otherwise limit SCE's operational practices relative to wildfire risk mitigation;

● risks associated with SCE implementing PSPS, including regulatory fines and penalties, claims for damages and reputational harm;

● ability of SCE to maintain a valid safety certification;

● ability of Edison International and SCE to obtain sufficient insurance at a reasonable cost, including insurance relating to wildfire-related claims, and to recover the costs of such insurance or, in the event liabilities exceed insured amounts, the ability to recover uninsured losses (including amounts paid for self-insured retention and co-insurance) from customers or other parties;

● extreme weather-related incidents (including events caused, or exacerbated, by climate change, such as wildfires, debris flows, flooding, droughts, high wind events and extreme heat events) and other natural disasters (such as earthquakes), which could cause, among other things, public safety issues, property damage, rotating outages and other operational issues (such as issues due to damaged infrastructure), PSPS activations and unanticipated costs;

● risk that California Assembly Bill 1054 ("AB 1054") does not effectively mitigate the significant exposure faced by California investor-owned utilities related to liability for damages arising from catastrophic wildfires where utility facilities are alleged to be a substantial cause, including the longevity of the Wildfire Insurance Fund and the CPUC's interpretation of and actions under AB 1054, including its interpretation of the prudency standard clarified by AB 1054;

● ability of Edison International and SCE to effectively attract, manage, develop and retain a skilled workforce, including its contract workers;

Edison International Reports Fourth Quarter and Full-Year 2022 Financial Results

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● decisions and other actions by the California Public Utilities Commission, the Federal Energy Regulatory Commission, the Nuclear Regulatory Commission and other governmental authorities, including decisions and actions related to nationwide or statewide crisis, determinations of authorized rates of return or return on equity, the recoverability of wildfire-related and debris flow-related costs, issuance of SCE's wildfire safety certification, wildfire mitigation efforts, approval and implementation of electrification programs, and delays in executive, regulatory and legislative actions;

● cost and availability of labor, equipment and materials, including as a result of supply chain constraints and inflation;

● ability of Edison International or SCE to borrow funds and access bank and capital markets on reasonable terms;

● risks associated with the decommissioning of San Onofre, including those related to worker and public safety, public opposition, permitting, governmental approvals, on-site storage of spent nuclear fuel and other radioactive material, delays, contractual disputes, and cost overruns;

● pandemics, such as COVID-19, and other events that cause regional, statewide, national or global disruption, which could impact, among other things, Edison International's and SCE's business, operations, cash flows, liquidity and/or financial results and cause Edison International and SCE to incur unanticipated costs;

● physical security of Edison International's and SCE's critical assets and personnel and the cybersecurity of Edison International's and SCE's critical information technology systems for grid control, and business, employee and customer data;

● risks associated with cost allocation resulting in higher rates for utility bundled service customers because of possible customer bypass or departure for other electricity providers such as Community Choice Aggregators ("CCA," which are cities, counties, and certain other public agencies with the authority to generate and/or purchase electricity for their local residents and businesses) and Electric Service Providers (entities that offer electric power and ancillary services to retail customers, other than electrical corporations (like SCE) and CCAs) ;

● risks inherent in SCE's capital investment program, including those related to project site identification, public opposition, environmental mitigation, construction, permitting, contractor performance, changes in the California Independent System Operator's transmission plans, and governmental approvals; and

● risks associated with the operation of electrical facilities, including worker and public safety issues, the risk of utility assets causing or contributing to wildfires, failure, availability, efficiency, and output of equipment and facilities, and availability and cost of spare parts.

Additional information about risks and uncertainties, including more detail about the factors described in this release, is contained throughout this release and in the 2022 Form 10-K, including the "Risk Factors" sections. Readers are urged to read this entire release including information incorporated by reference, as well as the 2022 Form 10-K, and carefully consider the risks, uncertainties, and other factors that affect Edison International's and SCE's businesses. Edison International and SCE post or provide direct links (i) to certain SCE and other parties' regulatory filings and documents with the CPUC and the FERC and certain agency rulings and notices in open proceedings in a section titled "SCE Regulatory Highlights," (ii) to certain documents and information related to Southern California wildfires which may be of interest to investors in a section titled "Southern California Wildfires," and (iii) to presentations, documents and other information that may be of interest to investors in a section titled "Presentations and Updates" at www.edisoninvestor.com in order to publicly disseminate such information.

These forward-looking statements represent our expectations only as of the date of this news release, and Edison International assumes no duty to update them to reflect new information, events or circumstances. Readers should review future reports filed by Edison International and SCE with the SEC.

Edison International Reports Fourth Quarter and Full-Year 2022 Financial Results

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Fourth Quarter Reconciliation of Basic Earnings Per Share to Core Earnings Per Share

	Three months ended						Year ended
	December 31,						December 31,
	2022		2021		Change		2022		2021		Change
Earnings (Losses) per share attributable to Edison International
SCE	$	1.26	$	1.21	$	0.05	$	2.23	$	2.18	$	0.05
Edison International Parent and Other		(0.17)		0.17		(0.34)		(0.62)		(0.18)		(0.44)
Edison International		1.09		1.38		(0.29)		1.61		2.00		(0.39)
Less: Non-core items
SCE		(0.10)		(0.13)		0.03		(3.10)		(2.94)		(0.16)
Edison International Parent and Other		0.04		0.35		(0.31)		0.08		0.35		(0.27)
Total non-core items		(0.06)		0.22		(0.28)		(3.02)		(2.59)		(0.43)
Core earnings (losses) per share
SCE		1.36		1.34		0.02		5.33		5.12		0.21
Edison International Parent and Other		(0.21)		(0.18)		(0.03)		(0.70)		(0.53)		(0.17)
Edison International	$	1.15	$	1.16	$	(0.01)	$	4.63	$	4.59	$	0.04

Note: Diluted earnings were $1.08 and $1.37 per share for the three months ended December 31, 2022 and 2021, respectively. Diluted earnings were $1.60 and $2.00 per share for the twelve months ended December 31, 2022 and 2021, respectively.

Fourth Quarter Reconciliation of Basic Earnings Per Share to Core Earnings (in millions)

	Three months ended						Year ended
	December 31,						December 31,
(in millions)	2022		2021		Change		2022		2021		Change
Net income (loss) attributable to Edison International
SCE	$	478	$	458	$	20	$	847	$	829	$	18
Edison International Parent and Other		(63)		65		(128)		(235)		(70)		(165)
Edison International		415		523		(108)		612		759		(147)
Less: Non-core items
SCE1,2,3,4,5,6,7,8,9,10,11		(40)		(49)		9		(1,182)		(1,114)		(68)
Edison International Parent and Other		18		132		(114)		29		132		(103)
Total non-core items		(22)		83		(105)		(1,153)		(982)		(171)
Core earnings (losses)
SCE		518		507		11		2,029		1,943		86
Edison International Parent and Other		(81)		(67)		(14)		(264)		(202)		(62)
Edison International	$	437	$	440	$	(3)	$	1,765	$	1,741	$	24

¹ Includes charges for 2017/2018 Wildfire/Mudslide Events claims and expenses, net of expected recoveries from FERC customers of $11 million ($8 million after-tax) and $14 million ($10 million after-tax) recorded for the three months ended December 31, 2022 and 2021, respectively and $1.2 billion ($899 million after-tax) and $1.2 billion ($919 million after-tax) for the twelve months ended December 31, 2022 and 2021, respectively.

² Includes amortization of SCE’s contribution to the Wildfire Insurance Fund of $54 million ($39 million after-tax) for both the three months ended December 31, 2022 and 2021 and $214 million ($154 million after-tax) and $215 million ($155 million after-tax) for the twelve months ended December 31, 2022 and 2021, respectively.

³ Includes gains of $10 million ($7 million after-tax) from SCE's sale of San Onofre nuclear fuel for the three months ended December 31, 2022 and for both the twelve months ended December 31, 2022 and 2021.

⁴ Includes a charge of $81 million ($64 million after-tax) related to the Presiding Officer's Decision ("POD") in September 2022 on SCE's Upstream Lighting Program for the twelve months ended December 31, 2022.

⁵ Includes an impairment charge of $47 million ($34 million after-tax) related to SCE's CSRP settlement agreement filed with the CPUC in June 2022 for the twelve months ended December 31, 2022.

Edison International Reports Fourth Quarter and Full-Year 2022 Financial Results

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⁶ Includes an impairment charge of $17 million ($12 million after-tax) related to historical capital expenditures disallowed in SCE's GRC track 3 final decision for the twelve months ended December 31, 2022.

⁷ Includes a charge of $23 million ($16 million after-tax) related to settlement of an employment litigation matter, net of estimated insurance recoveries for the twelve months ended December 31, 2022.

⁸ Includes a charge of $14 million ($10 million after-tax) related to organizational realignment services for the twelve months ended December 31, 2022.

⁹ Includes an impairment charge of $79 million ($47 million after-tax) related to disallowed historical capital expenditures in SCE's 2021 GRC final decision for the twelve months ended December 31, 2021.

¹⁰ Includes net earnings related to customer revenues for EIS insurance contract, net of estimated wildfire-related claims insured by EIS of $23 million ($18 million after-tax) and $24 million ($17 million after-tax) for the three months ended December 31, 2022 and 2021, respectively and $36 million ($29 million after-tax) and $24 million ($17 million after-tax) for the twelve months ended December 31, 2022 and 2021, respectively.

¹¹ Includes an income tax benefit of $115 million for Edison International Parent and Other related to the settlement of the 2007 ‒2012 California tax audits with the California Franchise Tax Board ("FTB") for the twelve months ended December 31, 2021.

Edison International Reports Fourth Quarter and Full-Year 2022 Financial Results

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Consolidated Statements of Income
	Year ended
	December 31,
(in millions, except per-share amounts)	2022		2021
Total operating revenue	$	17,220	$	14,905
Purchased power and fuel		6,375		5,540
Operation and maintenance		4,724		3,645
Wildfire-related claims, net of insurance recoveries		1,313		1,276
Wildfire Insurance Fund expense		214		215
Depreciation and amortization		2,561		2,218
Property and other taxes		501		465
Impairment, net of other (income)		54		71
Gain on sale of lease interest and other operating income		(5)		(2)
Total operating expenses		15,737		13,428
Operating income		1,483		1,477
Interest expense		(1,169)		(925)
Other income		348		237
Income before income taxes		662		789
Income tax benefit		(162)		(136)
Net income		824		925
Less: Preference stock dividend requirements of SCE		107		106
Less: Preferred stock dividend requirement of Edison International		105		60
Net income attributable to Edison International common shareholders	$	612	$	759
Basic earnings per share:
Weighted average shares of common stock outstanding		381		380
Basic earnings per common share attributable to Edison International common shareholders	$	1.61	$	2.00
Diluted earnings per share:
Weighted average shares of common stock outstanding, including effect of dilutive securities		383		380
Diluted earnings per common share attributable to Edison International common shareholders	$	1.60	$	2.00

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Consolidated Balance Sheets	Edison International
	December 31,
(in millions)	2022		2021
ASSETS
Cash and cash equivalents	$	914	$	390
Receivables, less allowances of $347 and $193 for uncollectible accounts at respective dates		1,695		1,398
Accrued unbilled revenue		641		794
Inventory		474		420
Prepaid expenses		248		258
Regulatory assets		2,497		1,778
Wildfire Insurance Fund contributions		204		204
Other current assets		397		249
Total current assets		7,070		5,491
Nuclear decommissioning trusts		3,948		4,870
Marketable securities		5		12
Other investments		50		39
Total investments		4,003		4,921
Utility property, plant and equipment, less accumulated depreciation and amortization of $12,260 and $11,407 at respective dates		53,274		50,497
Nonutility property, plant and equipment, less accumulated depreciation of $106 and $98 at respective dates		212		203
Total property, plant and equipment		53,486		50,700
Receivables, less allowances of $7 and $116 for uncollectible accounts at respective dates		2		122
Regulatory assets (include $834 and $325 related to Variable Interest Entities "VIEs" at respective dates)		8,181		7,660
Wildfire Insurance Fund contributions		2,155		2,359
Operating lease right-of-use assets		1,442		1,932
Long-term insurance receivables		465		75
Other long-term assets		1,237		1,485
Total long-term assets		13,482		13,633
Total assets	$	78,041	$	74,745

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Consolidated Balance Sheets	Edison International
	December 31,
(in millions, except share amounts)	2022		2021
LIABILITIES AND EQUITY
Short-term debt	$	2,015	$	2,354
Current portion of long-term debt		2,614		1,077
Accounts payable		2,359		2,002
Wildfire-related claims		121		131
Customer deposits		167		193
Regulatory liabilities		964		603
Current portion of operating lease liabilities		506		582
Other current liabilities		1,601		1,667
Total current liabilities		10,347		8,609
Long-term debt (include $809 and $314 related to VIEs at respective dates)		27,025		24,170
Deferred income taxes and credits		6,149		5,740
Pensions and benefits		422		496
Asset retirement obligations		2,754		2,772
Regulatory liabilities		8,211		8,981
Operating lease liabilities		936		1,350
Wildfire-related claims		1,687		1,733
Other deferred credits and other long-term liabilities		2,988		3,105
Total deferred credits and other liabilities		23,147		24,177
Total liabilities		60,519		56,956
Commitments and contingencies
Preferred stock (50,000,000 shares authorized; 1,250,000 shares of Series A and 750,000 shares of Series B issued and outstanding at respective dates)		1,978		1,977
Common stock, no par value (800,000,000 shares authorized; 382,208,498 and 380,378,145 shares issued and outstanding at respective dates)		6,200		6,071
Accumulated other comprehensive loss		(11)		(54)
Retained earnings		7,454		7,894
Total Edison International's shareholders' equity		15,621		15,888
Noncontrolling interests – preference stock of SCE		1,901		1,901
Total equity		17,522		17,789
Total liabilities and equity	$	78,041	$	74,745

Edison International Reports Fourth Quarter and Full-Year 2022 Financial Results

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Consolidated Statements of Cash Flows	Edison International
	Years ended December 31,
(in millions)	2022		2021		2020
Cash flows from operating activities:
Net income	$	824	$	925	$	871
Adjustments to reconcile to net cash provided by operating activities:
Depreciation and amortization		2,633		2,288		2,029
Allowance for equity during construction		(137)		(118)		(121)
Impairment and other expense (income)		54		71		(116)
Gain on sale of lease interest and other operating income		(5)		(2)		(133)
Deferred income taxes		(177)		43		(296)
Wildfire Insurance Fund amortization expense		214		215		336
Other		80		40		36
Nuclear decommissioning trusts		(123)		(256)		(197)
Proceeds from Morongo Transmission LLC		—		400		—
Contributions to Wildfire Insurance Fund		(95)		(95)		(95)
Changes in operating assets and liabilities:
Receivables		(252)		(514)		(283)
Inventory		(58)		(21)		(43)
Accounts payable		367		138		87
Tax receivables and payables		18		13		113
Other current assets and liabilities		322		(333)		4
Regulatory assets and liabilities, net		(51)		(720)		(1,799)
Wildfire-related insurance receivable		(390)		708		932
Wildfire-related claims		(56)		(2,648)		(56)
Other noncurrent assets and liabilities		48		(123)		(6)
Net cash provided by operating activities		3,216		11		1,263
Cash flows from financing activities:
Long-term debt issued, plus premium and net of discount and issuance costs of $(62), $(43) and $23 for the respective years		5,971		5,412		3,073
Long-term debt repaid		(1,085)		(1,037)		(1,099)
Short-term debt issued		1,000		2,654		2,994
Short-term debt repaid		(1,543)		(2,255)		(1,126)
Common stock issued		13		32		912
Preferred stock issued, net		—		1,977		—
Preferred and preference stock redeemed		—		—		(308)
Commercial paper borrowing (repayments), net		(317)		(254)		304
Dividends and distribution to noncontrolling interests		(110)		(106)		(118)
Common stock dividends paid		(1,050)		(988)		(928)
Preferred stock dividends paid		(99)		(35)		—
Other		101		45		23
Net cash provided by financing activities		2,881		5,445		3,727
Cash flows from investing activities:
Capital expenditures		(5,778)		(5,505)		(5,484)
Proceeds from sale of nuclear decommissioning trust investments		4,177		3,961		5,927
Purchases of nuclear decommissioning trust investments		(4,054)		(3,705)		(5,730)
Other		81		98		316
Net cash used in investing activities		(5,574)		(5,151)		(4,971)
Net increase in cash, cash equivalents and restricted cash		523		305		19
Cash, cash equivalents and restricted cash at beginning of year		394		89		70
Cash, cash equivalents and restricted cash at end of year	$	917	$	394	$	89

EX-99.2

Exhibit 99.2

Prepared Remarks of Edison International CEO and CFO

Fourth Quarter and Full-Year 2022 Earnings Teleconference

February 23, 2023, 1:30 p.m. (PT)

Pedro Pizarro, President and Chief Executive Officer, Edison International

I am pleased to report that Edison International’s core EPS for 2022 was $4.63, which was in the upper end of our initial guidance range. Today, we are introducing 2023 EPS guidance of $4.55 to $4.85 and reinforcing our strong confidence in delivering our long-term EPS growth target of 5 to 7% from 2021 through 2025. Maria will discuss our financial performance and outlook.

Let’s start with our key accomplishments in 2022, noted on page 3. First, we once again delivered on our annual EPS guidance. Second, SCE continued to make tremendous progress in reducing wildfire risk and PSPS. SCE successfully executed its wildfire mitigation plan and updated the key statistic shown on page 5: SCE now estimates it has reduced the probability of losses from catastrophic wildfires by 75 to 80% compared to pre-2018 levels, and critically with much lower reliance on PSPS — now only 15% — as hardening and other mitigations continue, as depicted on page 6. Despite this strong operational and financial performance, market sentiment impacted our total shareholder return. Our TSR for 2022 trailed that of the Philadelphia Utility Sector Index and most of our peers. As shareholders ourselves, our leadership team and I are deeply committed to achieving our financial targets while strengthening SCE’s ability to deliver safe, reliable, affordable, and increasingly clean electricity.

Diving deeper into SCE’s tremendous progress in wildfire mitigation, despite challenging weather conditions and some fires in our service area last year, 2022 marks the fourth consecutive year without a catastrophic wildfire associated with SCE’s infrastructure. Key achievements in 2022 included deploying about 1,400 circuit miles of covered conductor, bringing total installations to around 4,400 circuit miles. To put this in perspective, this is nearly the round-trip distance from Los Angeles to Washington, DC. I am extremely proud of SCE’s ongoing execution of grid hardening activities, which have made our communities safer. The

utility is targeting up to another 1,200 miles of covered conductor in 2023. By year-end, approximately 74% of total distribution lines in high fire risk areas, or HFRA — including the 7,000 miles already underground — are expected to be hardened. This is a significant achievement and is summarized on page 7. SCE completed its one millionth high fire risk inspection since 2019, which is like visiting every structure in HFRA at least three times. The utility continued to build out its network of weather stations, and now, with more than 1,600 in total, SCE has the largest privately-owned weather station network in the country, providing a granular view of weather-related risk to inform operations. A key result is that total acres burned from ignitions on hardened sections of our grid are 99% smaller than those in areas not yet hardened.

SCE’s approach to reducing wildfire risk is differentiated by the speed of its infrastructure hardening and by reducing reliance on measures that affect customer reliability, like PSPS, for example by prioritizing hardening circuits at risk of power shutoffs. By the end of the 2023 through 2025 wildfire mitigation plan, SCE will have hardened about 7,700 miles of its overhead distribution system and scaled innovative pilots, such as Early Fault Detection. We look forward to SCE’s continued success in reducing the greatest amount of wildfire risk in the shortest amount of time.

Turning to the 2017 and 2018 Wildfire and Mudslide Events outlined on page 8, in the fourth quarter, SCE paid about $280 million in claims settlements. SCE now targets filing the TKM cost recovery application in the third quarter of 2023. Let me emphasize that SCE will seek full CPUC cost recovery, excluding amounts foregone under the agreement with the Safety Enforcement Division or already recovered. SCE will show its strong, compelling case that it operated its system prudently and that it is in the public interest to authorize full cost recovery. The utility currently expects to request about $2 billion in this first application. Our financial assumptions for 2025 and beyond do not factor in any potential upside from the cost recovery applications, which would represent substantial value.

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Looking ahead, I want to highlight key management focus areas for 2023; these are laid out on page 9. First and foremost, safety is foundational to our values and success, and we are targeting reducing the rates of employee injuries by 15%. Tragically, a utility troubleman, Johnny Kinkade, died from a work-related injury last month, and 1,200 of us joined his loved ones at his memorial service last week; this was our first employee work-related fatality in 5 ½ years and it redoubled our team’s resolve to make it our last. SCE’s unwavering commitment to keeping our communities safe through wildfire mitigation continues. The utility plans to keep its pace of about 100 miles per month of covered conductor, reaching a total of 5,600 miles by year-end. Again, filing the first cost recovery application for the historical wildfires is a front-and-center focus area for us. On the regulatory front, SCE looks forward to its upcoming 2025 GRC application and will monitor the cost of capital mechanism, which could result in significant upside to 2024 earnings should it trigger. On the financial side, we will be focused on achieving our capital expenditure and earnings goals, as well as pursuing upgrades to our credit ratings. We believe this is well-warranted considering the significant wildfire risk reduction by SCE, the state’s strong firefighting capabilities, and supportive California regulation.

Looking toward the future, the support for economywide electrification continues to grow nationally and here in California. We have shared before that we forecast electricity usage growing 60% by 2045— yes, a big six zero. Previously, we projected almost flat annual growth through 2030 followed by a steep trajectory through 2045, but we are now seeing earlier increases with the breadth of legislation, regulations, and codes and standards approved last year. SCE has updated its electricity sales forecast to reflect these significant policy changes and now projects about 2% annual growth from 2023 through 2035. Both transportation and building electrification forecasts have increased significantly, narrowing the gap to our Pathway 2045 analysis. This strong electrification load growth outlook is also consistent with the California Energy Commission’s forecast based on the state’s decarbonization policies, providing a source of external validation. Rapid expansion of electrification sharpens the continued need to make significant investments in SCE’s infrastructure. Over the coming years, SCE will continue to invest in wildfire mitigation and increase its grid work to support California’s leading role in building a carbon-free economy. With growth in electricity demand,

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this significant grid investment will be spread over a higher volume of sales, supporting affordability overall. SCE’s system average rate is already the lowest among major California IOUs and we expect it will be the lowest for the foreseeable future.

All of this — wildfire risk reduction, cost recovery for historical wildfires, the clean electrification investment opportunity, and our confidence in the 2025 EPS target — makes me excited about our near-term steps and our long-term growth, so I am confident that investors will fully recognize our significant value creation.

Maria Rigatti, Executive Vice President and Chief Financial Officer, Edison International

Let me start by highlighting that Edison International’s core EPS of $4.63 for 2022 was in the upper end of our initial guidance range. In my comments today, I will discuss fourth quarter results, our 2023 EPS guidance, and our 2023 financing plan.

Starting with the fourth quarter of 2022, EIX reported core EPS of $1.15. As you can see from the year-over-year quarterly variance analysis shown on page 10, SCE’s fourth quarter earnings increased primarily due to GRC attrition year escalation. This was partially offset by higher depreciation expense and higher net interest expense. The latter was driven by higher interest rates associated with funding 2017 and 2018 wildfire claims payments. At EIX Parent and Other, there was a negative variance of 3 cents, primarily due to higher holding company interest expense.

I would now like to discuss SCE’s capital and rate base forecasts, shown on pages 11 and 12. These are largely consistent with last quarter’s disclosures. I want to emphasize that SCE has significant capital expenditure opportunities driven by investments in the safety and reliability of the grid. We continue to project strong rate base growth of 7 to 9% from 2021 to 2025. The forecast also incorporates SCE’s current view of the requests to be made in the 2025 GRC, and other applications. SCE files its 2025 GRC application and testimony in May and we will update our forecasts and extend them through 2028 before our second quarter earnings call.

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Turning to our earnings outlook, we are initiating 2023 core EPS guidance of $4.55 to $4.85. I will cover the components of 2023 guidance in a moment, but first I want to frame our year-over-year EPS growth.

The primary driver is rate base growth, which we expect to be approximately 8.5% in 2023. However, you can see that our guidance range implies relatively flat to modest growth for the year. To help you bridge the difference, page 13 lays out core EPS growth year-over-year. The primary reason for the difference is higher interest expense at both the parent and SCE. Refinancing of debt at the parent and debt for historical wildfire claims payments drive the increase. To put this in perspective, of the gap between 2023 rate base and EPS growth, about 75% can be attributed to SCE’s wildfire settlement-related debt. While SCE is carrying this financing cost until they reach cost recovery resolution, I want to be very clear that the utility expects to seek full CPUC cost recovery of all eligible claims payments, including financing costs.

Please turn to page 14 for 2023 guidance and key earnings drivers. The components of our EPS guidance start with rate base math, which we forecast at $5.68. Let’s next discuss SCE operational variances, which have a net contribution to guidance of 48 to 75 cents per share. The major contributors are shown on the right side of the page. SCE costs excluded from authorized are 71 cents, with the biggest contributor being interest expense on debt for wildfire claims payments. For EIX Parent and Other, we expect a total expense of 87 to 90 cents per share.

I would now like to provide the parent company’s 2023 financing plan. I’ll preface this by saying that regardless of the specific instruments we use, our financing plan is fully reflected in our EPS guidance. Turning to page 15, we project total EIX parent financing needs of $1.4 billion. We expect this to be financed with a combination of securities with $300 to 400 million of equity content and parent debt for the remainder. As a reminder, we issue securities with equity content to support our investment grade credit ratings, which we are firmly committed to maintaining. To achieve our desired level of equity content, we may use a combination of hybrid securities, internal programs, or our existing at-the-market program.

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Page 16 provides an update on the CPUC cost of capital mechanism. If the 12-month average of the Moody’s Baa utility bond index exceeds 5.37% at the end of September, the mechanism calls for increasing the ROE by half the difference between the average and 4.37%. Importantly, the mechanism also resets the authorized costs of debt and preferred equity. Through February 16, the measurement period average is around 5.8%. We will be monitoring this over the next seven months and as an aid for understanding the specifics of the mechanism, we have provided a spreadsheet on our Investor Relations website that you can download.

Looking ahead, we are reiterating our 5 to 7% EPS growth rate guidance from 2021 through 2025, which translates to 2025 EPS of $5.50 to $5.90, laid out on page 17. My management team and I are fully committed to delivering on this target. I will note that this EPS target incorporates assumptions to accommodate the higher interest rate environment, but does not include the upside potential associated with the cost of capital mechanism, which adjusts ROE and updates the costs of debt and preferred. To provide you with a sensitivity, if the mechanism does trigger, that would increase the ROE by a minimum of 50 basis points and each 50 basis points of ROE changes 2025 EPS by about 28 cents. Further, our financial assumptions for 2025 do not factor in the potential recovery of historical wildfire costs, which could be substantial.

Lastly, I want to build on Pedro’s earlier point about affordability and highlight yet another action SCE has taken to manage customer rates. Earlier this month, SCE reached a settlement agreement with TURN and Cal Advocates to move to a customer-funded wildfire self-insurance model. This builds on the customer funded self-insurance that was previously authorized in the 2021 GRC. Under the revised structure, SCE will be able to reduce its revenue requirement by an annualized $160 million, further driving down SCE’s system average rate, which is already the lowest among major California IOUs, and we expect it will be the lowest for the foreseeable future.

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To conclude, EIX offers double-digit total return potential, consisting of our 5 to 7% EPS growth rate guidance and 4% dividend yield. SCE’s rate base growth is the fundamental driver, as the utility invests in the safety and reliability of the grid, which increases in importance each year as economywide electrification accelerates.

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EX-99.3

Exhibit 99.3

February 23, 2023 Fourth Quarter and Full-Year 2022 Financial Results

1 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 our expectations only as of the date of this presentation, and Edison International assumes no duty to update them to reflect new information, events or circumstances. Important factors that could cause different results include, but are not limited to the: • ability of SCE to recover its costs through regulated rates, including uninsured wildfire-related and debris flow-related costs, costs incurred to mitigate the risk of utility equipment causing future wildfires, costs incurred as a result of the COVID-19 pandemic, and increased costs due to supply chain constraints, inflation, and rising interest rates; • ability of SCE to implement its Wildfire Mitigation Plan and capital program; • risks of regulatory or legislative restrictions that would limit SCE's ability to implement operational measures to mitigate wildfire risk, including Public Safety Power Shutoff (“PSPS”) and fast curve settings, when conditions warrant or would otherwise limit SCE's operational practices relative to wildfire risk mitigation; • risks associated with SCE implementing PSPS, including regulatory fines and penalties, claims for damages and reputational harm; • ability of SCE to maintain a valid safety certification; • ability of Edison International and SCE to obtain sufficient insurance at a reasonable cost, including insurance relating to wildfire-related claims, and to recover the costs of such insurance or, in the event liabilities exceed insured amounts, the ability to recover uninsured losses (including amounts paid for self-insured retention and co-insurance) from customers or other parties; • extreme weather-related incidents (including events caused, or exacerbated, by climate change, such as wildfires, debris flows, flooding, droughts, high wind events and extreme heat events) and other natural disasters (such as earthquakes), which could cause, among other things, public safety issues, property damage, rotating outages and other operational issues (such as issues due to damaged infrastructure), PSPS activations and unanticipated costs; • risk that California Assembly Bill 1054 (“AB 1054”) does not effectively mitigate the significant exposure faced by California investor-owned utilities related to liability for damages arising from catastrophic wildfires where utility facilities are alleged to be a substantial cause, including the longevity of the Wildfire Insurance Fund and the CPUC's interpretation of and actions under AB 1054, including its interpretation of the prudency standard clarified by AB 1054; • ability of Edison International and SCE to effectively attract, manage, develop and retain a skilled workforce, including its contract workers; • decisions and other actions by the California Public Utilities Commission, the Federal Energy Regulatory Commission, the Nuclear Regulatory Commission and other governmental authorities, including decisions and actions related to nationwide or statewide crisis, determinations of authorized rates of return or return on equity, the recoverability of wildfire-related and debris flow-related costs, issuance of SCE's wildfire safety certification, wildfire mitigation efforts, approval and implementation of electrification programs, and delays in executive, regulatory and legislative actions; • cost and availability of labor, equipment and materials, including as a result of supply chain constraints and inflation; • ability of Edison International or SCE to borrow funds and access bank and capital markets on reasonable terms; • risks associated with the decommissioning of San Onofre, including those related to worker and public safety, public opposition, permitting, governmental approvals, on-site storage of spent nuclear fuel and other radioactive material, delays, contractual disputes, and cost overruns; • pandemics, such as COVID-19, and other events that cause regional, statewide, national or global disruption, which could impact, among other things, Edison International's and SCE's business, operations, cash flows, liquidity and/or financial results and cause Edison International and SCE to incur unanticipated costs; • physical security of Edison International's and SCE's critical assets and personnel and the cybersecurity of Edison International's and SCE's critical information technology systems for grid control, and business, employee and customer data; • risks associated with cost allocation resulting in higher rates for utility bundled service customers because of possible customer bypass or departure for other electricity providers such as Community Choice Aggregators (“CCA,” which are cities, counties, and certain other public agencies with the authority to generate and/or purchase electricity for their local residents and businesses) and Electric Service Providers (entities that offer electric power and ancillary services to retail customers, other than electrical corporations (like SCE) and CCAs); • risks inherent in SCE’s capital investment program, including those related to project site identification, public opposition, environmental mitigation, construction, permitting, contractor performance, changes in the California Independent System Operator’s transmission plans, and governmental approvals; and • risks associated with the operation of electrical facilities, including worker and public safety issues, the risk of utility assets causing or contributing to wildfires, failure, availability, efficiency, and output of equipment and facilities, and availability and cost of spare parts. Other important factors are discussed under the headings “Forward-Looking Statements”, “Risk Factors” and “Management’s Discussion and Analysis” in Edison International’s Form 10-K and other reports filed with the Securities and Exchange Commission, which are available on our website: www.edisoninvestor.com. These filings also provide additional information on historical and other factual data contained in this presentation. Forward-Looking Statements February 23, 2023

2 Edison International Fourth Quarter Highlights Q4 2022 EPS driven primarily by rate base earnings GAAP EPS: $1.09 Core EPS1 : $1.15 Full-Year 2022 EPS driven by rate base earnings, offset by change in reserve for 2017/2018 Wildfire/Mudslide Events GAAP EPS: $1.61 Core EPS1 : $4.63 EIX initiates 2023 Core EPS guidance $4.55–4.85 2023 Core EPS1 Estimate of reduction in probability of losses from catastrophic wildfires increases 75–80% reduction in estimated probability of losses2 EIX reiterates long-term Core EPS growth rate 5–7% Core EPS CAGR 2021–20253 1. For 2021 and 2022, see Earnings Per Share Non-GAAP Reconciliations and Use of Non-GAAP Financial Measures in Appendix 2. See page 5 for additional detail 3. Compound annual growth rate (CAGR) based on the midpoint of the initial 2021 EPS guidance range of $4.42–4.62 established September 16, 2021 February 23, 2023

3 EIX added another year of strong execution in 2022 February 23, 2023 Extended track record of delivering on full-year core EPS guidance • 2022 Core EPS of $4.63, above the midpoint of the initial guidance range of $4.40–4.701 • Since 2004, EIX has exceeded its guidance range in 11 years and the midpoint in 13 years Excellent progress in wildfire mitigation efforts • Fourth consecutive year of no catastrophic wildfires in SCE’s service area • Successful implementation of ~1,400 miles of covered conductor in HFRA • Completed hazard tree assessments on more than 1,325 circuits since 2019 SCE achieved substantial reduction of risk of losses from catastrophic wildfires • SCE estimates it has reduced probability of losses from catastrophic wildfires by ~75–80% vs. pre-2018 levels • No ignitions due to failure of covered conductor ✓ ✓ ✓ 1. See Earnings Per Share Non-GAAP Reconciliations and Use of Non-GAAP Financial Measures in Appendix

4 Since 2004, EIX has exceeded guidance range in 11 years February 23, 2023 2022 2021 2020 2019 2018 In-line Exceeded In-line In-line No guidance due to GRC decision timing 2017 2016 2015 2014 2013 Exceeded In-line Exceeded Exceeded Exceeded 2012 2011 2010 2009 2008 No guidance due to GRC decision timing Exceeded In-line Exceeded In-line 2007 2006 2005 2004 Exceeded Exceeded Exceeded Exceeded EIX Actual Core EPS vs. Guidance Range History

5 SCE estimates its wildfire mitigation and PSPS have reduced probability of losses from catastrophic wildfires by ~75–80%1,2 February 23, 2023 1. Baseline risk estimated by RMS using its wildfire model, the location of SCE’s assets, and SCE reported ignitions from 2014-2020. Risk reduction calculated by applying SCE-provided mitigation effectiveness and locations of covered conductor, tree removals, inspections, line clearing, and PSPS. Range may vary for other loss thresholds 2. Includes 50,000 year-long simulations using 20 years of weather and fire modeling weighted for the last 5 years to reflect recent experience and climate-change impacts 3. Annual losses represent potential claims resulting from wildfire. Total potential insured losses, such as damages to assets of homeowners and businesses, estimated by RMS, and uninsured losses, such as personal injury, fire suppression, and damage to publicly-owned assets estimated by SCE based on management experience and judgment 4. Fund refers to AB 1054 Wildfire Insurance Fund. SCE used the one-year RMS loss estimates with its estimates for the size of uninsured losses to quantify the reduction in probability of experiencing $3.5 billion in losses over a three-year period, excess of $1 billion aggregate each year, after which the AB 1054 liability cap would apply SCE expects to further reduce risk and decrease the need for PSPS with continued grid hardening investments Pre-20184 Year-End 2022 Estimated Risk Reduction PSPS Contribution Annual Risk of ≥$1.0 billion loss3 ~5.2% ~1.2% ~75% reduction in estimated probability of accessing the Wildfire Fund Risk of ≥$3.5 billion drawn from Fund over 3 years3 ~2.9% ~0.6% ~80% reduction in estimated probability of exceeding AB 1054 liability cap 1. Baseline risk estimated by Risk Management Solutions, Inc. (Moody’s RMS) using its wildfire model, relying on the following data provided by SCE: the location of SCE’s assets, reported ignitions from 2014–2020, mitigation effectiveness and locations of installed covered conductor, tree removals, inspections, line clearing, and PSPS de-energization criteria 2. There are risks inherent in the simulation analysis, models and predictions of SCE and Moody’s RMS relating to the likelihood of and damage due to wildfires and climate change. As with any simulation analysis or model related to physical systems, particularly those with lower frequencies of occurrence and potentially high severity outcomes, the actual losses from catastrophic wildfire events may differ from the results of the simulation analysis and models of Moody’s RMS and SCE. Range may vary for other loss thresholds 3. Includes (i) total potential insured losses estimated by Moody’s RMS, and (ii) total potential uninsured losses estimated by SCE based on management experience and consultation with insurance industry experts. “Fund” refers to CA AB 1054 Wildfire Insurance Fund. SCE used Moody’s RMS loss estimates along with its estimates of uninsured losses to quantify the reductions in estimated probability 4. Moody’s RMS’s prior method of analysis regarding wildfire risk on the wildfire models was updated at SCE’s request in Q2 2022 to incorporate Moody’s RMS’s newly available climate change models, leading to adjustments to pre-2018 probabilities and in quantifying the current year-end 2022 probabilities Decreasing dependency on PSPS vs. ~30% as of Q4 20214 ~15% of total risk reduction

6 Covered conductor deployment has reduced SCE’s dependency on PSPS for reducing wildfire risk February 23, 2023 1. Baseline risk estimated by Risk Management Solutions, Inc. (Moody’s RMS) using its wildfire model, relying on the following data provided by SCE: the location of SCE’s assets, reported ignitions from 2014–2020, mitigation effectiveness and locations of installed covered conductor, tree removals, inspections, line clearing, and PSPS de-energization criteria. 2. There are risks inherent in the simulation analysis, models and predictions of SCE and Moody’s RMS relating to the likelihood of and damage due to wildfires and climate change. As with any simulation analysis or model related to physical systems, particularly those with lower frequencies of occurrence and potentially high severity outcomes, the actual losses from catastrophic wildfire events may differ from the results of the simulation analysis and models of Moody’s RMS and SCE. Range may vary for other loss thresholds 3. PSPS and System Hardening Values are estimated by SCE based on operational experience in 2018–2020 compared to the subsequent modeled years SCE’s approach to reducing wildfire risk is differentiated by its focus on expeditiously hardening its infrastructure Estimated reduction in probability of losses from catastrophic wildfires compared to pre-2018 levels1,2,3 20% 55–60% 55–60% 65–70% 75–80% 2018 2019 2020 2021 2022 Public Safety Power Shutoffs (PSPS) Physical Mitigation (Grid hardening, inspections, vegetation management) ~125 ~495 ~1,480 ~2,980 ~4,400 Cumulative miles of covered conductor installed: Current

7 SCE has made significant progress in expeditiously hardening the grid to keep its communities safe February 23, 2023 ~7,000 ~4,400 ~1,200 ~3,100 ~1,300 ~17,000 Distribution Miles in HFRA ✓ ✓ By end of 2023, ~74% of total distribution lines in HFRA expected to be hardened Distribution lines already underground Completed hardening 2018–2022—primarily covered conductor Future planned hardening Bare wire until hardened during routine work in least risky areas Targeted for 2023 Total Circuit Miles of Distribution Lines in SCE’s High Fire Risk Area

8 SCE will request CPUC cost recovery for 2017/2018 events, with first application targeted for Q3 2023 February 23, 2023 2.4 0.5 5.0 0.9 8.8 Best Estimate of Total Losses 1. TKM: Collectively, the Thomas Fire, the Koenigstein Fire, and the Montecito Mudslides 2. After giving effect to all payment obligations under settlements entered into through December 31, 2022, including under the agreement with the Safety and Enforcement Division of the CPUC SCE continues to make substantial progress resolving claims Applications for CPUC cost recovery $ in Billions, as of December 31, 2022 Remaining2 First application will be for TKM1 – Now target filing in Q3 2023 – Currently expect to request ~$2 billion (settlements + financing and legal costs) – Plan to request securitization of approved amounts ▪ Rate sensitivity to securitization: ~0.08¢/kWh per $1 billion of recovery (vs. current system average rate of 25.2¢/kWh) Separate application for Woolsey Resolved Cost recovery request of ~$6 billion (+associated interest and legal costs) SED agreement Insurance and FERC recovery

9 2023 key focus areas emphasize safety and execution February 23, 2023 2023 Key Management Focus Areas Safety Employee Safety 1. Reduce Employee SIF and DART Rates by 15% from prior year1 Wildfire Mitigation Covered conductor 2. Install 1,200 miles (Total by year end: ~5,600 miles) Legal 2017/2018 Wildfire/ Mudslide Events 3. Target filing first cost recovery application in Q3 Regulatory General Rate Case 4. File 2025 GRC application in May for 2025–2028 Cost of Capital 5. Monitor cost of capital mechanism for potential adjustment to 2024 ROE Financial Core EPS 6. $4.55–4.85 Capex 7. Execute capital program of $6.0 billion Credit 8. Pursue credit rating upgrades 1. SIF = Serious Injuries and Fatalities. DART = Days Away, Restricted, or Transferred

10 Fourth Quarter Earnings Summary February 23, 2023 1. See EIX Core EPS Non-GAAP Reconciliations and Use of Non-GAAP Financial Measures in Appendix 2. For comparability, 2022 fourth quarter key EPS drivers are reported based on 2021 weighted-average share count of 380.1 million. 2022 fourth quarter weighted-average shares outstanding is 382.0 million 3. Includes $0.14 higher revenue related to lower tax benefits subject to balancing accounts and offset with income taxes 4. Includes $0.12 recovered through regulatory mechanisms and offset with deprecation $(0.08), interest expense $(0.03) and property and other taxes $(0.01) Note: Diluted earnings were $1.08 and $1.37 per share for the three months ended December 31, 2022 and 2021, respectively Q4 2022 Q4 2021 Variance Basic Earnings Per Share (EPS) SCE $ 1.26 $ 1.21 $ 0.05 EIX Parent & Other (0.17) 0.17 (0.34) Basic EPS $ 1.09 $ 1.38 $ (0.29) Less: Non-core Items1 SCE $ (0.10) $ (0.13) $ 0.03 EIX Parent & Other 0.04 0.35 (0.31) Total Non-core Items $ (0.06) $ 0.22 $ (0.28) Core Earnings Per Share (EPS) SCE $ 1.36 $ 1.34 $ 0.02 EIX Parent & Other (0.21) (0.18) (0.03) Core EPS $ 1.15 $ 1.16 $ (0.01) Key SCE EPS Drivers2 Higher revenue3,4 $ 0.47 CPUC revenue - GRC escalation 0.18 CPUC revenue - Other 0.28 FERC and other operating revenue 0.01 Higher O&M (0.05) Wildfire-related claims 0.01 Higher depreciation (0.14) Higher net financing costs (0.13) Income taxes (0.21) Other 0.07 Property and other taxes (0.02) Other income and expenses 0.09 Total core drivers $ 0.02 Non-core items1 0.03 Total $ 0.05 (0.02) (0.01) Total core drivers $ (0.03) Non-core items1 (0.31) Total $ (0.34) EIX EPS2 EIX Parent and Other EEG

11 Range Case2 n/a n/a 5.7 5.2 5.3 5.4 5.7 6.0 5.8–5.9 6.7 2021 2022 2023 2024 2025 SCE has significant capital expenditure opportunities driven by investments in the safety and reliability of the grid February 23, 2023 Capital deployment expected to increase in future GRC and other applications1 Capital Expenditures, $ in Billions Total 2021–2025 capital plan of $27–30 billion driven by investments in safety and reliability Primary 2024+ potential – Deployment of incremental miles of covered conductor3 – Investment to support infrastructure replacement and load growth – Transmission and energy storage investments to meet long-term state GHG targets – Investment enabling transportation electrification 1. Forecast for 2024 includes amounts requested in track 4 of SCE’s 2021 GRC. Forecast for 2025 includes amounts currently expected to be requested in SCE’s 2025 GRC filing. Additionally, reflects non-GRC spending subject to future regulatory requests beyond GRC proceedings and FERC Formula Rate updates 2. Annual Range Case capital reflects variability associated with future requests based on management judgment, potential for permitting delays and other operational considerations; GRC forecast is in line with authorized spend over the 2021 GRC track 1 cycle 3. The final decision in track 1 of SCE’s 2021 GRC established a cost recovery mechanism that would allow SCE to install additional covered conductor miles above the 4,500 circuit-mile level approved in the decision, including within the track 1 GRC period, subject to after-the-fact reasonableness review Future Requests

12 From a 2021 base, rate base growth forecast of 7–9% through 2025, reflecting future incremental investment February 23, 2023 1. Weighted-average year basis. Excludes rate base associated with ~$1.6 billion of wildfire mitigation-related spend that shall not earn an equity return under AB 1054 2. Range Case rate base reflects capital expenditure Range Case forecast Strong rate base growth driven by wildfire mitigation and important grid work to support California’s leading role in pivoting to a carbon-free economy Rate Base1 , $ in Billions 35.3 38.6 41.9 44.8–45.0 49.5 2021 2022 2023 2024 2025 ~9% 2021–2025 CAGR Future Requests Range Case2 n/a n/a 41.6 43.9 47.2

13 Gap between 2023 rate base and core EPS growth largely driven by interest on debt for wildfire claims payments1 February 23, 2023 1. See Earnings Per Share Non-GAAP Reconciliations and Use of Non-GAAP Financial Measures in Appendix. Non-core items are presented as recorded 2. Includes SCE Operational variances plus interest expense on wildfire fund contribution debt and executive compensation not in rates. Excludes incremental interest expense on debt funding wildfire claims payments 3. Variance reflects 2022 expense of 8¢ related to financing of unmonetized tax benefits associated with wildfire claims payments previously categorized as an SCE Operational Variance Earnings from strong 8.5% 2023 rate base growth offset by higher interest expense 2022 Core EPS vs. 2023 Core EPS Guidance at Midpoint of $4.55–4.85 Range1 4.63 0.35 0.15 (0.19) 4.94 (0.24) 4.70 2022 Core EPS Rate Base Earnings SCE Operational Variances EIX Parent & Other Results Before Incr. WF Claims Debt Interest Incr. WF Claims Debt Interest 2023 Core EPS Guidance (@ Midpoint) Higher debt balance as more claims settled and higher interest rates. Interest to be included in cost recovery applications +6.7% +1.5% GAAP EPS 1.61 Non-Core items primarily related to 2017/18 Events 3.02 2 2 1 3

14 Initiating 2023 core EPS guidance of $4.55–4.85 February 23, 2023 1. SCE is unable to conclude, at this time, that these amounts are probable of recovery; however, recovery will be sought as part of future cost recovery applications 2. Note: See Earnings Per Share Non-GAAP Reconciliations and Use of Non-GAAP Financial Measures in Appendix. All tax-effected information on this slide is based on our current combined statutory tax rate of approximately 28%. Totals may not add due to rounding 2023 Guidance Rate Base EPS 5.68 SCE Operational Variances 0.48–0.75 SCE Costs Excluded from Authorized (0.71) EIX Parent and Other Operational expense (0.14)–(0.13) Interest expense, preferred dividends (incl. dilution) (0.76)–(0.74) EIX Consolidated Core EPS $4.55–4.85 Share Count (in millions) 382.2 EIX 2023 Core Earnings Per Share Guidance Range Building from SCE Rate Base EPS Rate Base CPUC FERC Rate Base ($Bn) $34.3 $7.7 Equity Ratio 52.00% 47.50% ROE 10.05% 10.30% EPS $4.69 $0.99 Modeling Considerations AFUDC 0.33 2022 CEMA decision true-up 0.14 Wildfire fund debt cost (0.09) Wildfire claims debt cost1 (0.44) (to be requested for recovery) Exec. compensation not in rates (0.18)

15 EIX parent projects total 2023 financing needs of ~$1.4 billion, including $300–400 million of equity content February 23, 2023 1. Financing plans are subject to change 2. Equity content based on S&P methodology $1,400 $400 2.95% senior notes due March $600 term loan due April EIX 2023 Debt Maturities 2023 EIX Financing Plan1 $ in Millions Expect to issue securities with $300–400 million of equity content in potential combination of: – Hybrid securities issuance (50% equity content2 ) – ~$50–100 million common equity via internal programs (100% equity content) – At-the-market program (100% equity content) Expect to issue parent debt for the remainder $400 term loan due November

16 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6.0 6.5 Oct. 1, 2022 Jan. 1, 2023 Apr. 1, 2023 Jul. 1, 2023 Oct. 1, 2023 CPUC cost of capital mechanism adjusts ROE; also resets costs of debt and preferred if triggered February 23, 2023 ROE adjustment based on 12- month average of Moody’s Baa utility bond rates, measured from October 1 to September 30 If index exceeds 100 bps deadband from benchmark, authorized ROE changes by half the difference for 2024. Further, costs of debt and preferred are updated Benchmark value based on trailing 12 months average of Moody’s Baa index as of September 30, 2022 — 4.37% An average Moody's Baa utility bond yield of 5.13% or higher from February 17, 2023, through Sept. 30, 2023, would trigger mechanism to adjust upward CPUC Cost of Capital Adjustment Mechanism (CCM) Moody’s Baa Utility Index Rate (%), as of February 16, 2023 https://www.edison.com/_gallery/get_file/?file_id=63d432a6b3aed337c6e7381c&file_ext=.xlsx&page_id= Click here for link to spreadsheet illustrating CCM mechanics Current Period Moving Average: 5.78% Current Spot Rate: 5.65% Minimum Avg. Rate to Trigger: 5.13% Benchmark: 4.37% Dead-band

17 EIX reaffirms 5–7% 2021–2025 EPS growth rate target, which would result in 2025 EPS of $5.50–5.901 February 23, 2023 1. Based on the midpoint of initial 2021 Core EPS guidance range of $4.42–4.62 established September 16, 2021. Growth in any given year can be outside the range 2. Components are rounded to the nearest 5 cents and based on EIX 2022 guidance share count of 381.4 million shares. For the purposes of this illustration, all costs and dilution associated with any equity content issued beyond 2022 are reflected in the EIX Parent and Other line. Actual financing activity may vary and is subject to change 3. Based on SCE’s currently-authorized CPUC ROE of 10.05% Component Modeling Considerations Rate Base EPS3 (based on capex levels) 6.35–6.75 • CPUC ROE of 10.05% and FERC ROE 10.3% • Does not include potential upside from Cost of Capital Mechanism (~$0.28 EPS per 50bps change in CPUC ROE) SCE Op. Variances 0.65–0.75 • Includes AFUDC of ~$0.30 to $0.35, regulatory applications, operational efficiencies, among other items SCE Costs Excluded from Authorized (0.70)–(0.65) • Primarily wildfire claims payment-related debt • Current interest rate assumption of 5.3% (sensitivity: ~1¢ EPS per ±20bps change) EIX Parent & Other (including dilution) (0.80)–(0.95) • Current interest rate assumption of 6.1% (sensitivity: ~1¢ EPS per ±20bps change) Pursuing opportunities to deliver 5–7% growth rate1 2025 Core Earnings per Share Component Ranges2

18 EIX offers double-digit total return potential February 23, 2023 9–11% total return opportunity4 before potential P/E multiple expansion driven by estimated 75–80% wildfire risk reduction5 , and ongoing utility and government wildfire mitigation efforts 1. Compound annual growth rate (CAGR) based on the midpoint of the 2021 Core EPS guidance range of $4.42–4.62 established on September 16, 2021 2. Based on EIX stock price on February 22, 2023 3. Building electrification programs subject to CPUC approval 4. At current P/E multiple. Excludes changes in P/E multiple and potential dividend growth 5. Risk reduction based on mitigations through December 31, 2022 5–7% core EPS CAGR1 2021 to 2025 Underpinned by strong rate base growth of ~7–9% $27–30 billion 2021–2025 capital program ~4%+ current dividend yield2 19 consecutive years of dividend growth Target dividend payout of 45–55% of SCE core earnings Investments in safety and reliability of the grid Wildfire mitigation execution reduces risk for customers Creates strong foundation for climate adaptation and the clean energy transition One of the strongest electrification profiles in the industry Industry-leading programs for transportation electrification and building electrification3 Potential for 35% load growth by 2035 and 60% by 2045

Appendix

20 Edison’s near-term debt maturities are manageable with ~24% tied to SCE’s operations or AB 1054 securitization February 23, 2023 2023 2024 2025 2026 2027 Variable Rate (SOFR+) SCE: Operational2 – – – – – SCE: AB 1054 Bridge2 730 – – – – SCE: Wildfire Claims 400 1,000 – – – EIX Parent2 1,000 – – – – Total Variable Rate 2,130 1,000 – – – Fixed Rate SCE: Operational 1,035 – 900 – – SCE: Wildfire Claims 750 1,150 300 350 1,350 EIX Parent 400 500 800 – 600 Total Fixed Rate 2,185 1,650 2,000 350 1,950 Total Debt1 SCE: Operational 1,035 – 900 – – SCE: AB 1054 Bridge 730 – – – – SCE: Wildfire Claims 1,150 2,150 300 350 1,350 EIX Parent 1,400 500 800 – 600 Total Debt 4,315 2,650 2,000 350 1,950 Currently Outstanding Debt Maturities (2023–2027)1 $ in Millions, as of December 31, 2022 SCE term loan bridges to 2023 securitization of AB 1054 capex; does not affect earnings SCE will seek cost recovery of claims settlements and associated interest3 1. Does not include commercial paper borrowings, amortization of secured recovery bonds issued by SCE Recovery Funding LLC. The table shows the 2023 mandatory purchase of $135 million of tax-exempt bonds as a maturity in 2023. The company may choose to remarket the tax-exempt bonds at that time. The bonds mature in 2033 2. Classified as short-term debt on the balance sheet 3. Refers to CPUC recovery of prudently-incurred actual losses and related costs in excess of insurance. Excludes insurance recoveries, FERC recoveries, and other ineligible amounts. SCE will include interest on debt issued to finance claims payments in recovery requests

21 SCE continues to fund wildfire claims payments with debt February 23, 2023 Series Principal Due Rate 2021B 400 4/3/23 SOFR + 64bps 2021D 350 4/3/23 0.700% 2021J 400 8/1/23 0.700% 2021C 400 4/1/24 SOFR + 83bps 2021E 700 4/1/24 1.100% Term Loan 600 5/7/24 Adj. SOFR + 90bps 2021K 450 8/1/24 0.975% 2022C 300 6/1/25 4.200% 2020C 350 2/1/26 1.200% 2022D 600 6/1/27 4.700% 2022F 750 11/1/27 5.850% 2022E 350 6/1/52 5.450% Total $5,650 Annualized Interest1: ~$205 Wildfire Claims Payment-Related Debt Issuances $ in Millions except percentages, as of December 31, 2022 Interest expense not currently recoverable in rates, however, will be included in cost recovery applications for the 2017/2018 Wildfire/Mudslide Events2 SCE has waiver from CPUC, allowing exclusion with respect to certain non-cash charges to equity and associated debt for calculating SCE’s regulatory equity ratio – Extension of waiver pending decision from CPUC 1. Pre-tax. Based on SOFR 4.69% as of January 31, 2023 2. Excluding the carrying cost associated with the $375 million of wildfire claims payments foreclosed from cost recovery under an agreement with the Safety and Enforcement Division of the CPUC

22 Full Year Earnings Summary February 23, 2023 1. See EIX Core EPS Non-GAAP Reconciliations and Use of Non-GAAP Financial Measures in Appendix 2. For comparability, 2022 key EPS drivers are reported based on 2021 weighted-average share count of 379.7 million. 2022 weighted-average shares outstanding is 381.4 million 3. Includes $(0.26) lower revenue related to higher tax benefits subject to balancing accounts and offset with income taxes 4. Includes $1.36 recovered through regulatory mechanisms and offset with O&M $(0.81), deprecation $(0.44), interest expense $(0.10) and property and other taxes $(0.01) Note: Diluted earnings were $1.60 and $2.00 per share for the twelve months ended December 31, 2022 and 2021, respectively 2022 2021 Variance Basic Earnings Per Share (EPS) SCE $ 2.23 $ 2.18 $ 0.05 EIX Parent & Other (0.62) (0.18) (0.44) Basic EPS $ 1.61 $ 2.00 $ (0.39) Less: Non-core Items1 SCE $ (3.10) $ (2.94) $ (0.16) EIX Parent & Other 0.08 0.35 (0.27) Total Non-core Items $ (3.02) $ (2.59) $ (0.43) Core Earnings Per Share (EPS) SCE $ 5.33 $ 5.12 $ 0.21 EIX Parent & Other (0.70) (0.53) (0.17) Core EPS $ 4.63 $ 4.59 $ 0.04 Key SCE EPS Drivers2 Higher revenue3,4 $ 2.11 CPUC revenue - GRC escalation 0.72 CPUC revenue - Other 1.28 FERC and other operating revenue 0.11 Higher O&M (1.24) Higher depreciation (0.63) Higher net financing costs (0.31) Income taxes 0.20 Other 0.10 Property and other taxes (0.04) Other operating income 0.01 Other income and expenses 0.13 Results prior to impact from share dilution $ 0.23 Impact from share dilution (0.02) Total core drivers $ 0.21 Non-core items1 (0.16) Total $ 0.05 (0.16) (0.01) Total core drivers $ (0.17) Non-core items1 (0.27) Total $ (0.44) EIX EPS2 EIX Parent and Other EEG

23 Q4 2022 Q4 2021 2022 2021 SCE $ 478 $ 458 $ 847 $ 829 EIX Parent & Other (63) 65 (235) (70) Basic Earnings $ 415 $ 523 $ 612 $ 759 Non-Core Items SCE 2017/2018 Wildfire/Mudslide Events claims and expenses, net of recoveries (11) (14) (1,248) (1,234) Wildfire Insurance Fund expense (54) (54) (214) (215) Upstream Lighting Program decision — — (81) — Impairments1 — — (64) (79) Employment litigation matter, net of recoveries — — (23) — Organizational realignment charge — — (14) — Sale of San Onofre nuclear fuel 10 — 10 10 Income tax benefits2 15 19 452 404 EIX Parent & Other Customer revenues for EIS insurance contract, net of claims 23 24 36 24 Income tax benefit from settlement of 2007 ‒ 2012 California tax audits — 115 — 115 Income tax expense3 (5) (7) (7) (7) Less: Total non-core items $ (22) $ 8 3 $(1,153) $ (982) SCE 518 507 2,029 1,943 EIX Parent & Other (81) (67) (264) (202) Core Earnings $ 437 $ 440 $ 1,765 $ 1,741 Earnings Non-GAAP Reconciliations February 23, 2023 1. Non-core Impairment charges of $64 million recorded in 2022 includes $47 million related to CSRP settlement and $17 million related to GRC track 3 final decision; an impairment charge of $79 million recorded in 2021 related to 2021 GRC final decision 2. SCE non-core items are tax-effected at an estimated statutory rate of approximately 28% 3. EIX non-core items are tax-effected at an estimated statutory rate of approximately 28%; customer revenues for EIS insurance contract, net of claims are tax-effected at an estimated statutory rate of approximately 20% Reconciliation of EIX GAAP Earnings to EIX Core Earnings Earnings (Losses) Attributable to Edison International, $ in Millions

24 Q4 2022 Q4 2021 2022 2021 Basic EPS $ 1.09 $ 1.38 $ 1.61 $ 2.00 Non-Core Items SCE 2017/2018 Wildfire/Mudslide Events claims and expenses, net of recoveries (0.03) (0.04) (3.27) (3.25) Wildfire Insurance Fund expense (0.14) (0.14) (0.56) (0.57) Upstream Lighting Program decision — — (0.21) — Impairments2 — — (0.16) (0.21) Employment litigation matter, net of recoveries — — (0.06) — Organizational realignment charge — — (0.04) — Sale of San Onofre nuclear fuel 0.03 — 0.03 0.03 Income tax benefit3 0.04 0.05 1.17 1.06 EIX Parent & Other Customer revenues for EIS insurance contract, net of claims 0.06 0.06 0.09 0.06 Income tax benefit from settlement of 2007 – 2012 California tax audits — 0.30 — 0.30 Income tax expense4 (0.02) (0.01) (0.01) (0.01) Less: Total non-core items (0.06) 0.22 (3.02) (2.59) Core EPS $ 1.15 $ 1.16 $ 4.63 $ 4.59 EIX Core EPS Non-GAAP Reconciliations February 23, 2023 1. 2022 EPS drivers are presented based on weighted-average share counts of 382.0 million for quarter and 381.4 million for full year; 2021 EPS drivers are presented based on weighted-average share counts of 380.1 million for quarter and 379.7 million for full year 2. Impairment charges of $(0.16) recorded in 2022 includes $(0.12) related to CSRP settlement and $(0.04) related to GRC track 3 final decision; an impairment charge of $(0.21) recorded in 2021 related to 2021 GRC final decision 3. SCE non-core items are tax-effected at an estimated statutory rate of approximately 28% 4. EIX non-core items are tax-effected at an estimated statutory rate of approximately 28%; customer revenues for EIS insurance contract, net of claims are tax-effected at an estimated statutory rate of approximately 20% Reconciliation of EIX Basic Earnings Per Share to EIX Core Earnings Per Share EPS Attributable to Edison International1

25 Low High Basic EIX EPS $4.55 $4.85 Total Non-Core Items2 — — Core EIX EPS $4.55 $4.85 1. EPS is calculated on the assumed weighted-average share count for 2023 of 382.2 million 2. Non-core items are presented as they are recorded Earnings Per Share Non-GAAP Reconciliations February 23, 2023 Reconciliation of EIX Basic Earnings Per Share Guidance to EIX Core Earnings Per Share Guidance1 2023 EPS Attributable to Edison International

26 Edison International's earnings are prepared in accordance with generally accepted accounting principles used in the United States. Management uses core earnings (losses) internally for financial planning and for analysis of performance. Core earnings (losses) are also used when communicating with investors and analysts regarding Edison International's earnings results to facilitate comparisons of the company's performance from period to period. Core earnings (losses) are a non-GAAP financial measure and may not be comparable to those of other companies. Core earnings (losses) are defined as earnings attributable to Edison International shareholders less non-core items. Non-core items include income or loss from discontinued operations and income or loss from significant discrete items that management does not consider representative of ongoing earnings, such as write downs, asset impairments and other income and expense related to changes in law, outcomes in tax, regulatory or legal proceedings, and exit activities, including sale of certain assets and other activities that are no longer continuing. A reconciliation of Non-GAAP information to GAAP information is included either on the slide where the information appears or on another slide referenced in this presentation. EIX Investor Relations Contact Sam Ramraj, Vice President Derek Matsushima, Principal Manager (626) 302-2540 (626) 302-3625 Sam.Ramraj@edisonintl.com Derek.Matsushima@edisonintl.com Use of Non-GAAP Financial Measures February 23, 2023

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