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): July 29, 2021

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, 2020 and subsequent Quarterly Reports on Form 10-Q. Additionally, Edison International and SCE provide direct links to EIX and SCE presentations, documents and other information at www.edisoninvestor.com (Presentations) in order to publicly disseminate such information.

Item  2.02Results of Operations and Financial Condition

On July 29, 2021, Edison International issued a press release reporting its financial results and the financial results for its subsidiary, Southern California Edison Company, for the quarter ended June 30, 2021. 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

Exhibit No.	Description
99.1	Edison International Press Release dated July 29, 2021
99.2	Edison International Q2 2021 Financial Results Conference Call Prepared Remarks dated July 29, 2021
99.3	Edison International Q2 2021 Financial Results Conference Call Presentation dated July 29, 2021
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/ Aaron D. Moss

Aaron D. Moss

Vice President and Controller

Date: July 29, 2021

SOUTHERN CALIFORNIA EDISON COMPANY

(Registrant)

/s/ William M. Petmecky III

William M. Petmecky III

Senior Vice President and Chief Financial Officer

Date: July 29, 2021

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 Second Quarter 2021 Results

● Second Quarter 2021 GAAP EPS of $0.84; Core EPS of $0.94

● In July, the CPUC issued a proposed decision on track 1 of SCE’s 2021 General Rate Case

● SCE continues wildfire mitigation execution, meeting annual inspections target and deploying over 540 miles of covered conductor through the first half of the year

ROSEMEAD, Calif., July 29, 2021 — Edison International (NYSE: EIX) today reported second quarter 2021 net income of $318 million, or $0.84 per share, compared to net income of $318 million, or $0.85 per share, in the second quarter of 2020. As adjusted, second quarter 2021 core earnings were $356 million, or $0.94 per share, compared to core earnings of $375 million, or $1.00 per share, in the second quarter of 2020.

Southern California Edison (SCE) received a proposed decision from the California Public Utilities Commission (CPUC) on track 1 of its 2021 General Rate Case (GRC) on July 9, 2021.SCE accounts for regulatory decisions in the period in which they are received. Consequently, during the second quarter 2021, SCE recognized revenue from CPUC activities based on 2020 authorized base revenue requirements.

SCE’s second quarter 2021 core earnings per share decreased year-over-year primarily due to higher depreciation, partially offset by higher FERC revenue and lower expenses related to wildfire mitigation activities. Wildfire mitigation expenses were lower in the second quarter primarily because fewer remediations were identified through the inspection process.

Edison International Parent and Other's second quarter 2021 loss per share increased year-over-year primarily due to higher preferred dividends as a result of preferred equity issuance in 2021, partially offset by lower corporate expenses and the recognition of unrealized gains from an increase in the fair value of marketable securities.

“SCE’s recently received proposed decision on its 2021 General Rate Case supports critical safety and reliability investments and provides the foundation for capital spending and rate base through 2023,” said Pedro J. Pizarro, president and CEO of Edison International. “SCE is making meaningful progress in mitigating wildfire risk for its customers. However, we believe additional CPUC-authorized funding for SCE’s covered conductor deployment is warranted to protect customers’ and communities’ vital interests and achieve the state’s objective for minimizing wildfire risk.”

Pizarro added, “Investing in grid resiliency is a key element of our sustainability strategy. SCE is progressing toward its sustainability goals and is making substantial investments, including over $800 million to accelerate vehicle electrification across the utility’s service area. SCE currently maintains one of the largest energy storage portfolios in the nation, supporting reliability and increasing levels of clean energy.”

Edison International uses core earnings, which is a non-GAAP financial measure that adjusts for significant discrete items that management does not consider representative of ongoing earnings. Edison International management believes that core earnings provide more meaningful comparisons of performance from period to period. Please see the attached tables for a reconciliation of core earnings to basic GAAP earnings.

Edison International Reports Second Quarter 2021 Financial Results

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2021 Earnings Guidance

Edison International will provide 2021 earnings guidance after a final decision has been adopted by the CPUC on track 1 of the Southern California Edison 2021 GRC, consistent with the company's prior practice.

Second Quarter 2021 Earnings Conference Call and Webcast Details

When:	Thursday, July 29, 2021, 1:30 p.m. (Pacific Time)
Telephone Numbers:	1-888-673-9780 (US) and 1-312-470-0178 (Int'l) - Passcode: Edison
Telephone Replay:	1-800-934-9697 (US) and 1-203-369-3395 (Int’l) - Passcode: 3754
	Telephone replay available through August 12, 2021
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-Q 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, a global energy advisory company delivering comprehensive, data-driven energy solutions to commercial and industrial users to meet their cost, sustainability and risk goals.

Edison International Reports Second Quarter 2021 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 to implement SCE's new customer service system and costs incurred as a result of the COVID-19 pandemic;

• ability of SCE to implement its Wildfire Mitigation Plan;

• risks of regulatory or legislative restrictions that would limit SCE’s ability to implement Public Safety Power Shutoff (“PSPS”) when conditions warrant or would otherwise limit SCE’s operational PSPS practices;

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

• ability of SCE to maintain a valid safety certification;

• ability to obtain sufficient insurance at a reasonable cost, including insurance relating to SCE's nuclear facilities and 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 from customers or other parties;

• extreme weather-related incidents (including events caused, or exacerbated, by climate change, such as wildfires, debris flows, 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, operational issues (such as rotating outages and issues due to damaged infrastructure), PSPS activations and unanticipated costs;

• risks associated with California Assembly Bill 1054 (“AB 1054”) effectively mitigating the significant risk 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

Edison International Reports Second Quarter 2021 Financial Results

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the CPUC's interpretation of and actions under AB 1054, including its interpretation of the new prudency standard established under AB 1054;

• ability of SCE to effectively manage its 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, and delays in executive, regulatory and legislative actions;

• 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, 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 transmission and distribution infrastructure investment program, including those related to project site identification, public opposition, environmental mitigation, construction, permitting, power curtailment costs (payments due under power contracts in the event there is insufficient transmission to enable acceptance of power delivery), changes in the California Independent System Operator’s transmission plans, and governmental approvals; and

• risks associated with the operation of transmission and distribution assets and power generating 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 report, is contained throughout this report and in the 2020 Form 10-K, including the "Risk Factors" section. Readers are urged to read this entire report, including information incorporated by reference, as well as the 2020 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 title "Presentations" 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 Second Quarter 2021 Financial Results

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

	Three months ended						Six months ended
	June 30,						June 30,
	2021		2020		Change		2021		2020		Change
Earnings (loss) per share attributable to Edison International
Continuing operations
SCE	$	0.95	$	1.02	$	(0.07)	$	1.73	$	1.64	$	0.09
Edison International Parent and Other		(0.11)		(0.17)		0.06		(0.21)		(0.27)		0.06
Edison International		0.84		0.85		(0.01)		1.52		1.37		0.15
Less: Non-core items
SCE		(0.10)		(0.08)		(0.02)		(0.21)		(0.20)		(0.01)
Edison International Parent and Other		—		(0)		0.07		—		(0.08)		0.08
Total non-core items		(0.10)		(0.15)		0.05		(0.21)		(0.28)		0.07
Core earnings (losses)
SCE		1.05		1.10		(0.05)		1.94		1.84		0.10
Edison International Parent and Other		(0.11)		(0.10)		(0.01)		(0.21)		(0.19)		(0.02)
Edison International	$	0.94	$	1.00	$	(0.06)	$	1.73	$	1.65	$	0.08

Note: Diluted earnings were $0.84 and $0.85 per share for the three months ended June 30, 2021 and 2020, respectively, and $1.52 and $1.36 per share for the six months ended June 30, 2021 and 2020, respectively.

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

	Three months ended						Six months ended
	June 30,						June 30,
(in millions)	2021		2020		Change		2021		2020		Change
Net income (loss) attributable to Edison International
Continuing operations
SCE	$	359	$	381	$	(22)	$	655	$	600	$	55
Edison International Parent and Other		(41)		(63)		22		(78)		(99)		21
Edison International		318		318		—		577		501		76
Less: Non-core items
SCE1,2,3,4		(38)		(32)		(6)		(80)		(74)		(6)
Edison International Parent and Other3		—		(25)		25		—		(28)		28
Total non-core items		(38)		(57)		19		(80)		(102)		22
Core earnings (losses)
SCE		397		413		(16)		735		674		61
Edison International Parent and Other		(41)		(38)		(3)		(78)		(71)		(7)
Edison International	$	356	$	375	$	(19)	$	657	$	603	$	54

¹ Includes charges of $54 million ($39 million after-tax) and $107 million ($77 million after-tax) for the quarter and year-ended June 30, 2021, respectively, and $83 million ($60 million after-tax) and $167 million ($120 million after-tax) for the quarter and year-ended June 30, 2020, respectively, from the amortization of SCE's contributions to the Wildfire Insurance Fund.

² Includes charges of $9 million ($6 million after-tax) and $14 million ($10 million after-tax) for the quarter and year ended June 30, 2021, respectively, and $12 million ($9 million after-tax) for the second quarter of 2020 for SCE's 2017/2018 Wildfire/Mudslide Events claims and expenses, net of recoveries.

³ Includes income tax benefit of $18 million and income tax expense of $3 million recorded in the first quarter of 2020 for SCE and Edison International Parent and Other, respectively, due to re-measurement of uncertain tax positions related to the 2010 – 2012 California state tax filings currently under audit.

⁴ Includes gains of $10 million ($7 million after-tax) and $52 million ($37 million after-tax) for the second quarter of 2021 and 2020, respectively, for SCE's sale of San Onofre nuclear fuel.

Edison International Reports Second Quarter 2021 Financial Results

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Consolidated Statements of Income	Edison International
	Three months ended				Six months ended
	June 30,				June 30,
(in millions, except per-share amounts, unaudited)	2021		2020		2021		2020
Total operating revenue	$	3,315	$	2,987	$	6,275	$	5,777
Purchased power and fuel		1,283		1,068		2,296		1,996
Operation and maintenance		754		762		1,598		1,643
Wildfire Insurance Fund expense		54		83		107		167
Depreciation and amortization		533		489		1,058		973
Property and other taxes		117		103		243		214
Other operating income, net of impairment		(11)		(18)		(11)		(18)
Total operating expenses		2,730		2,487		5,291		4,975
Operating income		585		500		984		802
Interest expense		(232)		(229)		(449)		(454)
Other income		76		81		148		133
Income before income taxes		429		352		683		481
Income tax expense (benefit)		68		4		32		(80)
Net income		361		348		651		561
Preferred and preference stock dividend requirements of SCE		26		30		53		60
Preferred stock dividend requirement of Edison International		17		—		21		—
Net income attributable to Edison International common shareholders	$	318	$	318	$	577	$	501
Basic earnings per share:
Weighted average shares of common stock outstanding		380		375		379		367
Basic earnings per common share attributable to Edison International common shareholders	$	0.84	$	0.85	$	1.52	$	1.37
Diluted earnings per share:
Weighted average shares of common stock outstanding, including effect of dilutive securities		380		376		380		368
Diluted earnings per common share attributable to Edison International common shareholders	$	0.84	$	0.85	$	1.52	$	1.36

Edison International Reports Second Quarter 2021 Financial Results

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Consolidated Balance Sheets	Edison International
	June 30,		December 31,
(in millions, unaudited)	2021		2020
ASSETS
Cash and cash equivalents	$	84	$	87
Receivables, less allowances of $270 and $188 for uncollectible accounts at respective dates		1,314		1,130
Accrued unbilled revenue		863		521
Insurance receivable		—		708
Income tax receivables		—		68
Inventory		406		405
Prepaid expenses		57		281
Regulatory assets		1,795		1,314
Wildfire Insurance Fund contributions		204		323
Other current assets		198		224
Total current assets		4,921		5,061
Nuclear decommissioning trusts		4,886		4,833
Marketable securities		21		—
Other investments		58		53
Total investments		4,965		4,886
Utility property, plant and equipment, less accumulated depreciation and amortization of $10,878 and $10,681 at respective dates		48,800		47,653
Nonutility property, plant and equipment, less accumulated depreciation of $96 and $94 at respective dates		189		186
Total property, plant and equipment		48,989		47,839
Regulatory assets (includes $329 at June 30, 2021 related to Variable Interest Entities "VIEs")		7,810		7,120
Wildfire Insurance Fund contributions		2,462		2,443
Operating lease right-of-use assets		1,047		1,088
Long-term insurance receivable		75		75
Other long-term assets		893		860
Total long-term assets		12,287		11,586
Total assets	$	71,162	$	69,372

Edison International Reports Second Quarter 2021 Financial Results

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Consolidated Balance Sheets	Edison International
	June 30,		December 31,
(in millions, except share amounts, unaudited)	2021		2020
LIABILITIES AND EQUITY
Short-term debt	$	2,821	$	2,398
Current portion of long-term debt		415		1,029
Accounts payable		1,797		1,980
Wildfire-related claims		141		2,231
Customer deposits		207		243
Regulatory liabilities		492		569
Current portion of operating lease liabilities		216		215
Other current liabilities		1,726		1,612
Total current liabilities		7,815		10,277
Long-term debt (Includes $320 at June 30, 2021 related to VIEs)		22,891		19,632
Deferred income taxes and credits		5,614		5,368
Pensions and benefits		543		563
Asset retirement obligations		2,894		2,930
Regulatory liabilities		8,960		8,589
Operating lease liabilities		831		873
Wildfire-related claims		1,519		2,281
Other deferred credits and other long-term liabilities		2,782		2,910
Total deferred credits and other liabilities		23,143		23,514
Total liabilities		53,849		53,423
Commitments and contingencies
Preferred stock (50,000,000 shares authorized; 1,250,000 shares issued and outstanding at June 30, 2021)		1,235		—
Common stock, no par value (800,000,000 shares authorized; 379,695,134 and 378,907,147 shares issued and outstanding at respective dates)		6,013		5,962
Accumulated other comprehensive loss		(65)		(69)
Retained earnings		8,229		8,155
Total Edison International's shareholders' equity		15,412		14,048
Noncontrolling interests – preference stock of SCE		1,901		1,901
Total equity		17,313		15,949
Total liabilities and equity	$	71,162	$	69,372

Edison International Reports Second Quarter 2021 Financial Results

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Consolidated Statements of Cash Flows	Edison International
	Six months ended June 30,
(in millions, unaudited)	2021		2020
Cash flows from operating activities:
Net income	$	651	$	561
Adjustments to reconcile to net cash provided by operating activities:
Depreciation and amortization		1,090		1,005
Allowance for equity during construction		(60)		(51)
Impairment and other		(11)		(18)
Deferred income taxes		30		(58)
Wildfire Insurance Fund amortization expense		107		167
Other		11		32
Nuclear decommissioning trusts		(127)		(62)
Changes in operating assets and liabilities:
Receivables		(293)		(108)
Inventory		(3)		(19)
Accounts payable		128		14
Tax receivables and payables		91		31
Other current assets and liabilities		(244)		(23)
Regulatory assets and liabilities, net		(574)		(927)
Wildfire-related insurance receivable		708		73
Wildfire-related claims		(2,852)		—
Other noncurrent assets and liabilities		(26)		8
Net cash (used in) provided by operating activities		(1,374)		625
Cash flows from financing activities:
Long-term debt issued, plus premium and net of discount and issuance costs of $(36) and $26 for the respective periods		3,953		2,726
Long-term debt repaid		(991)		(814)
Short-term debt borrowed		2,106		1,275
Short-term debt repaid		(1,355)		(800)
Common stock issued		25		884
Preferred stock issued, net		1,235		—
Commercial paper repayment, net of borrowing		(656)		(550)
Dividends and distribution to noncontrolling interests		(53)		(60)
Dividends paid		(494)		(454)
Other		12		16
Net cash provided by financing activities		3,782		2,223
Cash flows from investing activities:
Capital expenditures		(2,593)		(2,514)
Proceeds from sale of nuclear decommissioning trust investments		2,542		3,225
Purchases of nuclear decommissioning trust investments		(2,415)		(3,163)
Other		54		60
Net cash used in investing activities		(2,412)		(2,392)
Net (decrease) increase in cash, cash equivalents and restricted cash		(4)		456
Cash, cash equivalents and restricted cash at beginning of period		89		70
Cash, cash equivalents and restricted cash at end of period	$	85	$	526

EX-99.2

Exhibit 99.2

Prepared Remarks of Edison International CEO and CFO

Second Quarter 2021 Earnings Teleconference

July 29, 2021, 1:30 p.m. (PT)

Pedro Pizarro, President and Chief Executive Officer, Edison International

Today, Edison International reported core earnings per share of $0.94 compared to $1.00 a year ago. However, this comparison is not meaningful because SCE did not receive a final decision in track 1 of its 2021 General Rate Case during the quarter. As many of you are aware, a proposed decision was issued on July 9^th. The utility will file its opening comments later today and reply comments on August 3^rd. While Maria will cover the PD in more detail, our financial performance for the quarter, and other financial topics, let me first give you a few observations, which are summarized on page 2.

The PD’s base rate revenue requirement of $6.9 billion is approximately 90% of SCE’s request. The primary drivers of the reduction are lower funding for wildfire insurance premiums, vegetation management, and depreciation. The main reduction to SCE’s 2021 capital forecast was for the Wildfire Covered Conductor Program. Excluding wildfire mitigation-related capital, the PD would approve 98% of SCE’s 2021 capital request, much of which was uncontested.

The PD acknowledged the often-competing objectives of balancing safety and reliability risks with the costs associated with ensuring SCE can make necessary investments to provide safe, reliable, and clean energy. The PD also notes that wildfire mitigation is a high priority for the state and the Commission. The PD supports critical safety and reliability investments and provides the foundation for capital spending and rate base through 2023. We believe it is generally well-reasoned, but it has some major policy implications that are fundamentally inconsistent with where the state is headed. SCE’s CEO, Kevin Payne, addressed these implications well during oral arguments earlier this week, and the utility will elaborate on them in its opening comments, which are outlined on page 3.

The largest area of concern is the significant proposed cut to SCE’s Wildfire Covered Conductor Program. This is SCE’s paramount wildfire mitigation program and the utility’s comments will focus on ensuring the program’s scope is consistent with the appropriate risk analyses, state policy, and achieving the desired level of risk mitigation. The proposed reductions would deprive customers of a key risk reduction tool, so SCE is advocating strongly for a balanced final decision. We believe additional CPUC-authorized funding for SCE’s covered conductor deployment is warranted to protect customers’ and communities’ vital interests and achieve the state’s objective for minimizing wildfire risk.

As noted in prior discussions, SCE has prioritized covered conductor and other wildfire mitigation activities to urgently reduce wildfire risk. A scorecard of SCE’s wildfire mitigation plan progress is on page 4 of the deck. We believe that through the execution of the WMP and other efforts, SCE has made meaningful progress in reducing the risk that utility equipment will spark a catastrophic wildfire. Page 5 provides a few proof points of how SCE believes it has reduced wildfire risk for its customers. First, circuits with covered conductor have experienced 69% fewer faults than those without, which demonstrates the efficacy of this tool. In fact, on segments where we have covered the bare wire, there has not been a single CPUC-reportable ignition from contact with objects or wire-to-wire contact. Second, where SCE has expanded vegetation clearance distances and removed trees that could fall into its lines, there have been 50% fewer tree- or vegetation-caused faults than the historic average. Lastly, since SCE began its high fire risk inspection program in 2019, it has found 66% fewer conditions requiring remediation on the same structures year-over-year. These serve as observable data points of the substantial risk reduction from SCE’s wildfire mitigation activities. The utility will use the tools at its disposal to mitigate wildfire risk. This includes deploying covered conductor at a level informed by the Final Decision, augmented by using Public Safety Power Shutoffs, or PSPS, to achieve the risk reduction originally contemplated for the benefit of customers.

The PD also included comments on the topic of affordability. We agree that affordability is always important and must be weighed against the long-term investments in public safety. I

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will highlight that SCE’s rates have generally tracked local inflation over the last 30 years and have risen the least since 2009 relative to the other major California IOUs. Currently, SCE’s system average rate is about 17% lower than PG&E’s and 34% lower than SDG&E’s, reflecting the emphasis SCE has placed on operational excellence over the years. While we recognize that the increases in the next few years—tied to the investments in safety for the communities SCE serves—are higher than this historical average, SCE has demonstrated its ability to manage rate increases to the benefit of customers. Underfunding prudent mitigations like covered conductor is penny wise and pound foolish, as it may ultimately lead to even greater economic pain — and loss of life — for communities impacted by wildfires that could have been prevented.

An active wildfire season is underway right now, and I would like to emphasize SCE’s substantial progress in executing its WMP. Through the first half of the year, SCE completed over 190,000 high fire risk-informed inspections of its transmission and distribution equipment, achieving over 100% of its full year targets. The utility also continues to deploy covered conductor in the highest risk areas. Year-to date, SCE installed over 540 circuit miles of covered conductor in high fire risk areas. For the full year, SCE expects to cover at least another 460 miles for a total of 1,000 miles deployed in 2021, consistent with its WMP goal.

Additionally, SCE is executing its PSPS Action Plan to further reduce the risk of utility equipment igniting wildfires and to minimize the effects on customers. SCE is on target to complete its expedited grid hardening efforts on frequently impacted circuits and expects to reduce customer minutes of interruption by 78%, while not increasing risks, assuming the same weather conditions as last year. To support the most vulnerable customers living in high fire risk areas when a PSPS is called, the utility has distributed over 4,000 batteries for backup power through its Critical Care Back-Up Battery program.

We believe California is also better prepared to combat this wildfire season. The Legislature has continued to allocate substantial funding to support wildfire prevention and

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additional firefighting resources. Just last week, the state announced that CAL FIRE had secured 12 additional firefighting aircraft for exclusive use in its statewide response efforts, augmenting the largest civil aerial firefighting fleet in the world. SCE is also supporting the readiness and response efforts of local fire agencies. In June, SCE contributed $18 million to lease three fire-suppression helicopters. This includes two CH-47 helitankers, the world’s largest fire-suppression helicopters, and a Sikorsky-61 helitanker. All three aircraft have unique water and fire-retardant-dropping capabilities and can fly day and night. In addition, a Sikorsky-76 command and control helicopter, along with ground-based equipment to support rapid retardant refills and drops, will be available to assist with wildfires. The helitankers and command-and-control helicopter will be strategically stationed across SCE’s service area and made available to various jurisdictions through existing partnerships and coordination agreements between the agencies through the end of the year.

We also appreciate the strong efforts by President Biden, Energy Secretary Granholm, and the broader Administration. I was pleased to join the President, Vice President, cabinet members, and Western Governors including Governor Newsom for a virtual working session on Western wildfire preparedness last month. The group highlighted key areas for continued partnership among the Federal government, states, and utilities, including land and vegetation management, deploying technology from DOE’s national labs and other Federal entities, and enabling response and recovery.

Let me conclude my comments on SCE’s wildfire preparations for this year by pointing out a resource we made available for investors. We recently posted a video to our Investor Relations website featuring SCE subject matter experts discussing the utility’s operational and infrastructure mitigation efforts and an overview of state actions to meet California’s 2021 drought and wildfire risk — so please go check it out.

Investing to make the grid resilient to climate change-driven wildfires is a critical component of our strategy and just one element of our ESG performance. Our recently

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published Sustainability Report details our progress and long-term goals related to the clean energy transition and electrification. In 2020, approximately 43% of the electricity SCE delivered to customers came from carbon-free resources, and the company remains well-positioned to achieve its goal to deliver 100% carbon-free power by 2045. SCE doubled its energy storage capacity during this year, and continues to maintain one of the largest storage portfolios in the nation. We have been engaged in Federal discussions on potential clean energy provisions and continue to support policies aligned with SCE’s Pathway 2045 target of 80% carbon-free electricity by 2030. However, electric affordability and reliability must be top of mind as we push to decarbonize the economy through electrification. The dollars needed to eliminate the last molecule of CO₂ from power generation will have a bigger impact when spent instead on an electric vehicle or heat pump. For example, the utility is spending over $800 million to accelerate vehicle electrification across its service area—a key component to achieve an economywide net zero goal most affordably. Recently, SCE opened its Charge Ready 2 program for customer enrollment. The program will support 38,000 new electric car chargers over the next 5 years, with an emphasis on locations with limited access to at-home charging options and disadvantaged communities. We are proud that Edison’s leadership in transportation electrification was recently recognized by our peers with EEI’s Edison Award, our industry’s highest honor. SCE has been able to execute on these objectives while maintaining the lowest system average rate among California’s investor owned utilities and monthly residential customer bills below the national average.

As we grow our business toward a clean energy future, we are also adapting our infrastructure and operations to a new climate reality, striving for best-in-class operations, and aiming to deliver superior value to our customers and investors.

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

My comments today will cover second quarter 2021 results, comments on the proposed decision in SCE’s General Rate Case, our capital expenditure and rate base forecasts, and updates on other financial topics.

Edison International reported core earnings of $0.94 per share for the second quarter 2021, a decrease of 6 cents per share from the same period last year. As Pedro noted earlier, this year-over-year comparison is not meaningful because SCE has not received a final decision in its 2021 General Rate Case and continues to recognize revenue from CPUC activities based on 2020 authorized levels. We will account for the 2021 GRC track 1 final decision in the quarter SCE receives it.

On page 7, you can see SCE’s key second quarter EPS drivers on the right-hand side. I will highlight the primary contributors to the variance.

To begin, revenue was higher by 10 cents per share. CPUC-related revenue contributed 6 cents to this variance, however this was offset by balancing account expenses. FERC-related revenue contributed 4 cents to this variance, driven by higher rate base and a true-up associated with filing SCE’s annual formula rate update.

O&M had a positive variance of 11 cents and two items account for the bulk of this variance. First, cost recovery activities, which have no effect on earnings, were five cents. This variance is largely due to costs recognized last year following the approval of costs tracked in a memo account. Second, lower wildfire mitigation-related O&M drove a two-cent positive variance, primarily because fewer remediations were identified through the inspection process. This continues the trend we observed in first quarter. Over the past few years, SCE has accelerated and enhanced its approach to risk-informed inspections of its assets. Inspections continue to be one of the important measures for reducing the probability of ignitions. For the first half of the year, while we have maintained the pace of inspections and met our annual

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target, we have observed fewer findings of equipment requiring remediation. Lastly, depreciation and property taxes had a combined negative variance of 10 cents, driven by higher asset base resulting from SCE’s continued execution of its capital plan.

As Pedro mentioned earlier, SCE received a proposed decision on track 1 of its 2021 General Rate Case on July 9^th. If adopted, the PD would result in base rate revenue requirements of $6.9 billion in 2021, $7.2 billion in 2022, and $7.6 billion in 2023. This is lower than SCE’s request primarily related to lower authorized expenses for wildfire insurance premiums, vegetation management, employee benefits, and depreciation. For wildfire insurance, the PD would allow SCE to track premiums above authorized in a memo account for future recovery applications. The PD would also approve a vegetation management balancing account for costs above authorized. In its opening comments, SCE will address the PD’s procedural error that resulted in the exclusion of increased vegetation management labor costs driven by updated wage rates. Vegetation management costs that exceed a defined cap, including these higher labor costs, would be deferred to the vegetation management balancing account. The earliest the Commission can vote on the proposed decision is at its August 19 voting meeting. Consistent with our past practice, we will provide 2021 EPS guidance a few weeks after receiving a final decision.

I would also like to comment on SCE’s capital expenditure and rate base growth forecasts. As shown on page 8, over the track 1 period of 2021 through 2023, rate base growth would be approximately 7% based on SCE’s request and approximately 6% based on the proposed decision. In the absence of a 2021 GRC final decision, SCE continues to execute a capital spending plan for 2021 that would result in spending in the range of $5.4 to $5.5 billion. SCE will adjust spending for what is ultimately authorized in the 2021 GRC final decision while minimizing the risk of disallowed spending. We have updated our 2021 through 2023 rate base forecast to include the Customer Service Re-Platform project. SCE filed a cost recovery application for the project last week. I will note that this rate base forecast does not include

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capital spending for fire restoration related to wildfires affecting SCE’s facilities and equipment in late 2020. This could add approximately $350 million to rate base by 2023.

Page 9 provides a summary of the approved and pending cost recovery applications for incremental wildfire-related costs. SCE recently received a proposed decision in the CEMA proceeding for drought and 2017 fire-related costs. The PD would authorize recovery of $81 million of the requested revenue. As you can see on page 10, during the quarter, SCE requested a financing order that would allow it to issue up to $1 billion of recovery bonds to securitize the costs authorized in GRC track 2, 2020 residential uncollectibles, and additional AB 1054 capital authorized in GRC track 1. SCE expects a final decision on the financing order in the fourth quarter.

Turning to page 11, SCE continues to make solid progress settling the remaining individual plaintiff claims arising from the 2017 and 2018 Wildfire and Mudslide events. During the second quarter, SCE resolved approximately $560 million of individual plaintiff claims. That leaves about $1.4 billion of claims to be resolved, or less than 23% of the best estimate of total losses.

Turning to page 12, let me conclude by building on Pedro’s earlier comments on sustainability. I will emphasize the strong alignment between the strategy and drivers of EIX’s business, and the clean energy transition that is underway. In June, we published our sustainable financing framework, outlining our intention to continue aligning capital-raising activities with sustainability principles. We have identified several eligible project categories—both green and social—which capture a sizable portion of our capital plan, including T&D infrastructure for the interconnection and delivery of renewable generation using our grid, our EV charging infrastructure programs, grid modernization, and grid resiliency investments. Shortly after publishing the framework, SCE issued $900 million of sustainability bonds that will be allocated to eligible projects and reported on next year.

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Our commitment to sustainability is core to the company’s values and a key element of our stakeholder engagement efforts. Importantly, our approach to sustainability drives the large capital investment plan that needs to be implemented to address the impacts of climate change and to serve our customers safely, reliably, and affordably.

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EX-99.3

Exhibit 99.3

July 29, 2021 Second Quarter 2021 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 to implement SCE's new customer service system and costs incurred as a result of the COVID-19 pandemic; • ability of SCE to implement its Wildfire Mitigation Plan; • risks of regulatory or legislative restrictions that would limit SCE’s ability to implement Public Safety Power Shutoff (“PSPS”) when conditions warrant or would otherwise limit SCE’s operational PSPS practices; • risks associated with implementing PSPS, including regulatory fines and penalties, claims for damages and reputational harm; • ability of SCE to maintain a valid safety certification; • ability to obtain sufficient insurance at a reasonable cost, including insurance relating to SCE's nuclear facilities and 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 from customers or other parties; • extreme weather-related incidents (including events caused, or exacerbated, by climate change, such as wildfires, debris flows, 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, operational issues (such as rotating outages and issues due to damaged infrastructure), PSPS activations and unanticipated costs; • risks associated with California Assembly Bill 1054 (“AB 1054”) effectively mitigating the significant risk 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 new prudency standard established under AB 1054; • ability of SCE to effectively manage its 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, and delays in executive, regulatory and legislative actions; • 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, 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 transmission and distribution infrastructure investment program, including those related to project site identification, public opposition, environmental mitigation, construction, permitting, power curtailment costs (payments due under power contracts in the event there is insufficient transmission to enable acceptance of power delivery), changes in the California Independent System Operator’s transmission plans, and governmental approvals; and • risks associated with the operation of transmission and distribution assets and power generating 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 July 29, 2021

2 2021 GRC track 1: CPUC’s proposed decision supports critical investments and provides foundation through 2023 July 29, 2021 PD would support rate base growth of ~6% over GRC track 1 period2 Total company rate base2, $ in Billions 35.7 38.0 40.0 2021 2022 2023 Capex under PD-authorized levels would be $14.0 billion for 2021–2023 Total capital expenditures, $ in Billions 4.7 4.7 4.6 2021 2022 2023 1. HFRA: High Fire Risk Areas 2. Weighted-average year basis. Excludes rate base associated with ~$1.6 billion of AB 1054 excluded capital expenditures and certain projects or programs not yet approved; CSRP application for recovery was filed on July 22, 2021, and is included in rate base starting in 2022 On July 9, CPUC issued proposed decision (PD) in track 1 of SCE’s 2021 GRC, focused on balancing necessary spending on safety and reliability with affordability – Earliest CPUC can vote on PD is August 19 One of the first rate cases to consider broad range of wildfire mitigations, including large deployment of covered conductor in SCE’s HFRA1 Would authorize $6.9 billion base revenue, 90% of request Primary O&M reductions to wildfire insurance premiums and vegetation management costs; however, not expected to materially affect earnings or execution because of balancing and memo accounts for costs above authorized Proposed capital forecast reduction primarily due to reduced scope of Wildfire Covered Conductor Program, which is contrary to Commission and State public policy Would approve ~98% of non-wildfire mitigation-related capital, providing funding for safety and reliability, and continued implementation of State’s public policy goals

3 SCE’s opening comments focus on addressing covered conductor program scope and other critical issues July 29, 2021 SCE’s opening comments will note several areas that, if corrected, would result in a balanced final decision PD’s cuts to wildfire covered conductor program are inappropriate Proposes $1.86 billion, or 54%, cut to Wildfire Covered Conductor Program Based on TURN’s flawed estimation of risk, not the overall record Contrary to State policy to minimize risk of catastrophic wildfire Would deprive customers of a key risk reduction tool PD errs by not allowing for increased vegetation management labor costs Proposes reduction of ~$138 million for vegetation management costs Cost increases submitted in update testimony due to contract negotiations and SB 247, which increased labor rates PD would direct SCE to track costs above authorized in a balancing account for recovery in another proceeding PD should not make certain technical changes that reduce rate base Customer deposits excluded from rate base, contrary to other CPUC decisions, reducing test year rate base by ~$200 million Working cash assumptions at odds with established precedent, reducing test year rate base by ~$389 million PD makes erroneous reductions to compensation forecasts Calculations of incentive compensation based on flawed findings Makes incorrect characterization of regulatory goals and interpretation of Public Utilities Code

4 SCE’s execution of its wildfire mitigation strategy is reducing risk of wildfires associated with utility infrastructure July 29, 2021 Note: Data as of June 30, 2021. Blue check marks indicate met or exceeded target. Green arrows indicate execution is on track. Community Resource Centers Community Crew Vehicles 63 sites available 8 vehicles available High-Definition Wildfire Cameras Completed Since 2018 166 cameras installed Cameras thoroughly covering our high fire risk areas were installed by 2020 Distribution Equipment Inspections 2021 Completed/Target 173,200/163,000 inspections Completed Since 2018 757,600+ inspections Transmission Equipment Inspections 2021 Completed/Target 17,000/16,800 inspections Completed Since 2018 103,200+ inspections Insulated Wire (Covered Conductor) 2021 Completed/Target 540/1,000 circuit miles installed Completed Since 2018 2,020+ circuit miles installed 54% completed Fast-Acting Fuses 2021 Completed/Target 140/330 fuses installed Completed Since 2018 13,100+ fuses installed Hazard Tree Management 2021 Completed/Target 64,900/150,000 trees assessed Completed Since 2018 293,400+ trees assessed 43% completed Weather Stations 2021 Completed/Target 100/375 weather stations installed Completed Since 2018 1,160+ weather stations installed Aerial Fire Suppression Resources SCE contributed $18 million to support the creation of a quick reaction force of aerial firefighting assets across counties in SCE's service area to coordinate and reach wildfires in their early stages. These unique water and fire retardant dropping helitankers have the capability to operate day and night Critical Care Backup Battery Completed Since July 2020 4,060+ batteries provided to eligible customers 2021 Completed 3,340 batteries provided to eligible customers On Track 42% completed 27% completed 106% completed 101% completed

5 SCE is making meaningful progress in mitigating wildfire risk for its customers July 29, 2021 Covered conductor has reduced faults, which could lead to ignitions High fire risk inspection program has reduced remediation needs Expanded vegetation management and tree removal has reduced line contact 69% fewer faults on fully covered circuits1 50% fewer tree-caused faults2 66% lower defect find rate3 1. Measured by faults per 100 circuit miles on fully covered circuits in HFRA as compared to bare circuits in HFRA year-to-date in 2021 through June 30, 2021 2. Measured by average monthly tree caused circuit interruptions in HFRA in 2020–2021 as compared to the average from 2015–2019 3. Measured as Total Defect Find Rate (percentage of inspections) in 2021 as compared to 2019 (inception of program) for structures inspected every year On segments where SCE has covered bare wire, there has not been a single CPUC-reportable ignition from contact with objects or wire-to-wire contact

6 Sustainability is central to Edison’s vision to lead the transformation of the electric power industry Social Environmental Governance Targeting 100% carbon-free power delivered by 2045; ~43% carbon-free power in 20201 Over $800 million in approved SCE funding to expand transportation electrification SCE named to SEPA 2021 Utility Transformation Leaderboard for progress toward carbon-free grid Winner of EEI’s Edison Award for innovative suite of Transportation Electrification programs Committing to SCE vehicle fleet electrification goals by 2030 Highest level governance scores from ISS and Moody’s Board oversight of ESG risks such as safety, climate change impacts, and cybersecurity 7 of 11 directors diverse by gender, race/ethnicity, and/or LGBTQ, including 4 women 50% of executive annual incentive pay tied to safety-related metrics for 2021 Recognized as a “Trendsetter” in political accountability and disclosure by CPA3 Recipient of several awards for workplace diversity & inclusion2 Long-standing community partnerships, including $2.4B spend with diverse suppliers Publish expansive data2 on workforce, supplier, and community investment diversity Committed to gender parity in executive roles by 2030 and broader DEI actions $2 million shareholder funding committed to expand diversity and advance racial equity We have made long-term, public commitments related to clean energy, transportation electrification, diversity and inclusion, and safety 1. Percentages refer to power delivered to SCE customers. Reflects no coal generation of delivered electricity 2. View data in our annual Diversity, Equity & Inclusion Report, as well as awards and recognition in our annual Sustainability Report, both found on our Sustainability site 3. Edison International is recognized as a “Trendsetter” on the Center for Public Accountability (“CPA”)-Zicklin Index of Corporate Political Disclosure and Accountability. The Trendsetter category highlights leaders in the S&P 500 for commitments to transparency and accountability in political spending July 29, 2021

7 Second Quarter Earnings Summary July 29, 2021 1. See Earnings Non-GAAP Reconciliation and Use of Non-GAAP Financial Measures in Appendix 2. For comparability, 2021 core drivers reported based on 2020 weighted-average share count of 375 million (2021 QTD weighted-average shares outstanding is 379.6 million) 3. Includes $0.10 of lower tax benefits related to balancing accounts, which are offset in revenue Note: Diluted earnings were $0.84 and $0.85 per share for the three months ended June 30, 2021 and 2020, respectively Q2 2021 Q2 2020 Variance Basic Earnings Per Share (EPS) SCE 0.95 $ 1.02 $ (0.07) $ EIX Parent & Other (0.11) (0.17) 0.06 Basic EPS 0.84 $ 0.85 $ (0.01) $ Less: Non-core Items1 SCE (0.10) $ (0.08) $ (0.02) $ EIX Parent & Other — (0.07) 0.07 Total Non-core Items (0.10) $ (0.15) $ 0.05 $ Core Earnings Per Share (EPS) SCE 1.05 $ 1.10 $ (0.05) $ EIX Parent & Other (0.11) (0.10) (0.01) Core EPS 0.94 $ 1.00 $ (0.06) $ Higher revenue3 0.10 $ CPUC revenue 0.06 FERC and other operating revenue 0.04 Lower O&M 0.11 Higher depreciation (0.08) Higher net financing costs (0.01) Income taxes3 (0.11) Other (0.05) Property and other taxes (0.02) Other income and expenses (0.03) Results prior to impact from share dilution (0.04) $ Impact from share dilution (0.01) Total core drivers (0.05) $ Non-core items1 (0.02) Total (0.07) $ (0.01) $ Total core drivers (0.01) $ Non-core items1 0.07 Total 0.06 $ Key SCE EPS Drivers2 Key EIX EPS Drivers2 EIX Parent and Other

8 36.3 39.0 41.6 2021 2022 2023 5.5 5.5 5.3 5.4 2020 2021 2022 2023 SCE has strong capex and rate base growth driven by significant electric infrastructure investment opportunities 1. In accordance with Assembly Bill (AB) 1054, ~$1.6 billion of wildfire mitigation-related spend shall not earn an equity return 2. Weighted-average year basis. Excludes rate base associated with ~$1.6 billion of capital referred to in footnote 1 and certain projects or programs not yet approved; CSRP application for recovery was filed on July 22, 2021, and is included in rate base starting in 2022 3. For 2021–2023 capital, reflects a 10% reduction of the total capital forecast over the 3-year GRC cycle using management judgment based on experience of previously authorized amounts and potential for permitting delays and other operational considerations. For rate base, range case reflects capital expenditure forecast range case. The range case does not reflect any changes related to the proposed decision issued in track 1 of SCE’s 2021 GRC SCE forecasts deploying significant capital in 2021–2023… Capital Expenditures, $ in Billions Wildfire1 …resulting in strong rate base growth over the GRC track 1 period Rate Base2, $ in Billions 7.1% CAGR Generation Transmission Distribution ~$16 billion 2021–2023 July 29, 2021 Range Case3 36.2 38.1 40.0 CAGR 5.1% Range Case3 5.4 4.6 4.7 Proposed Decision: 5.9% CAGR

9 Ongoing and pending cost recovery will further strengthen balance sheet and credit metrics Approved Application Approved Amount1 Expected recovery mechanism/timing ✓ GRC Track 2 Jan. 2021 391 Securitization of O&M and AB 1054 capital2 ✓ WEMA1 Sept. 2020 505 Currently in rates. Complete by Oct. 2022 ✓ GS&RP April 2020 159 Currently in rates. Complete by Oct. 2021 Total Approved 1,055 Pending & Future Application Decision Expected Amount1 Proposed recovery mechanism/timing2 (PD) CEMA (2017) Q3 ’21 81 12-month amortization WEMA2 Q4 ’21 215 12-month amortization GRC Track 3 Q1 ’22 497 12-month amortization. Securitization of AB 1054 capital CEMA (2020) TBD TBD TBD. Application yet to be filed Total Pending & Future 793+ 1. Amounts refer to revenue requirement approved or, for pending and future applications, requested. For CEMA (2017), amount reflects revenue requirement in proposed decision. Applications also include direct capital expenditures not reflected in the tables above that are reviewed for reasonableness 2. Subject to CPUC authorization July 29, 2021 Wildfire-related and Wildfire Insurance Applications $ in Millions

10 SCE plans to securitize ~$1.6 billion of AB 1054 capex and ~$0.5 billion of O&M upon CPUC approval July 29, 2021 O&M Total Costs2 Cost Recovery Financing Order Issue Recovery Bonds App # Proceeding/ Category AB 1054 Capex1 File Testimony CPUC Approval File Testimony CPUC Approval 1 GS&RP 327 – 327 ✓ ✓ ✓ ✓ ✓ 2 GRC Track 2 219 401 997 ✓ ✓ 2020 COVID Residential Uncollectibles3 – 78 n/a n/a ✓ Q4 ‘21 Q4 ’21 / Q1 ’22 GRC Track 14 299 – ✓ Q3 ‘21 3 GRC Track 3 730 TBD 730 ✓ Q1 ’22 Q2 ’22 Up to 180 days ~90 days Total 1,575 479 2,054 1. Includes overheads 2. Before pre-securitization debt financing costs and upfront financing costs 3. To the extent SCE’s total uncollectible expenses are offset by legislatively-authorized programs, no recovery will be sought through other mechanisms 4. SCE will seek to recover amounts up to the AB 1054 capex authorized in its GRC track 1 and incurred in 2021, assuming a final decision prior to the issuance of the financing order Steps Required to Issue Securitized Recovery Bonds $ in Millions

11 2017/2018 Wildfire/Mudslide Events Update: Less than 23% of best estimate remains July 29, 2021 SCE continues to make substantial progress resolving claims Remaining expected potential losses, $ in Billions 6.2 1.4 Best Estimate of Total Losses Remaining Expected Potential Losses (At 6/30/2021) Less than 23% of best estimate remains to be resolved Remaining claims are primarily with individual plaintiffs Claims settled in most recent quarter (2Q21): ~$560 million SCE continues to make progress under settlement programs Bellwether trial dates: – Thomas: October 18, 2021 – Woolsey3: October 26, 2021 – Court may continue to defer trial dates if sufficient settlement progress made SCE will seek CPUC recovery of prudently-incurred, actual losses in excess of insurance 1,2 1. After giving effect to approximately $141 million in fixed payments due under settlements executed before June 30, 2021, but not paid at June 30, 2021 2. Does not include an estimate of any potential penalties that could be levied against SCE in connection with the 2017/2018 Wildfire/Mudslide Events. Edison International and SCE are currently unable to reasonably estimate the magnitude of any such penalties, or the associated timing if they were to be imposed 3. A hearing is scheduled for July 30, 2021, in which the Court will determine whether to lift the discovery stay and to set a liability and damages trial for plaintiffs not in the settlement program

12 Our Sustainable Financing Framework underscores the strong link between our strategy and financing activities July 29, 2021 Primary Category1 U.N. Sustainable Development Goals Alignment Green Renewable Energy Clean Transportation Energy Efficiency & Carbon Reduction Climate Change Adaptation Social Socioeconomic Advancement and Empowerment, Including Gender Inclusion Green, Social, and Sustainability instruments will fund projects that provide distinct environmental or social benefits Eligible Project Categories 1. Excludes projects with GHG intensity above 100 gCO2e / kWh and bioenergy projects that do not have a sustainable feedstock (i.e., does not negatively impact food security or contribute to deforestation). Excludes any expenditures on fossil fuel-fired generation, nuclear generation or large hydro (>30 MW) 2. In May 2021, SCE entered into a Green Term Loan Credit Agreement aligned with the Green Loan Principles to finance climate change adaptation resiliency spending In June, EIX published its Sustainable Financing Framework Framework aligned with ICMA’s Green Bond Principles, Social Bond Principles, and Sustainability Bond Guidelines Vigeo Eiris, second-party opinion provider, rated framework’s Contribution to Sustainability as “Advanced” (highest rating) SCE’s inaugural sustainable bond issuance2 raised $900 million for eligible projects to be reported on in 2022

Appendix

14 California has continued to increase investments in wildfire suppression and prevention1 July 29, 2021 CAL FIRE budget support along with actions to increase staffing and improve effectiveness ~$2.5–2.8bn/year ~7,180–8,134 Increases to firefighting crews Helicopter replacements continue Air tanker funding Enhanced technology Surge capacity New wildfire cameras and communications equipment deployed Fuel reduction projects ~$2.9bn ~8,769 Additional firefighters Helicopter replacement completion Air tanker funding Advanced modeling and analytics to inform suppression strategy Wildfire & Forest Resilience Strategy ($1.5bn across depts. and budget years3) Resilient Forests & Landscapes Wildfire Fuel Breaks Forest Sector Stimulus Science-Based Management Community Hardening Substantial increase in wildfire suppression budget to address shifting risk factors Budget continues suppression support and adds focus on prevention and resilience 2016-17 & 2017-18 Budget Years 2018-19 through 2020-21 Budget Years 2021-22 Budget Year CAL FIRE Budget2: ~$2.0bn/year CAL FIRE Positions: ~6,900 Extended peak staffing period Began procurement process to replace helicopters to enhance initial attack effectiveness Additional year-round engines 1. Total state funding and resources for wildfire suppression and prevention are also reflected in budgets of other departments, counties, and the State Mutual Aid System 2. As initially enacted. Does not include subsequent Emergency Fund funding 3. Composed of $536 million in 2020-21, $458 million in 2021-22, and $500 million in 2022-23. Allocations for 2021-22 and 2022-23 will be determined in subsequent legislation. Portions of the funding for the Wildfire & Forest Resilience Strategy are captured within CAL FIRE’s overall budget

15 On segments where SCE has installed covered conductor, there has not been a CPUC-reportable ignition from contact with objects or wire-to-wire contact July 29, 2021 Covered conductor has reduced faults that could lead to ignitions1 Faults per 100 circuit miles on HFRA Circuits in 2021 Since inception of high fire risk inspection program, defect find rate has fallen3 Total Defect Find Rate, Percentage of Inspections 13.6 6.9 Pre- Mitigations Post- Mitigations 37.5 11.7 No Covered Conductor Fully Covered Conductor Tree-caused faults in high fire risk area is lower than historical average2 Average Monthly Tree Caused Circuit Interruptions in HFRA 21% 7% At Program Inception YTD 2021 ~(69%) ~(50%) ~(66%) 1. Measured by faults per 100 circuit miles on fully covered circuits in HFRA as compared to bare circuits in HFRA year-to-date in 2021 through June 30, 2021 2. Measured by average monthly tree caused circuit interruptions in HFRA in 2020–2021 as compared to the average from 2015–2019 3. Measured as Total Defect Find Rate (percentage of inspections) in 2021 as compared to 2019 (inception of program) for structures inspected every year

16 SCE’s 2021 General Rate Case will be approved in four tracks over 2021–2023 SCE Testimony Intervenor Testimony SCE Rebuttal Opening & Reply Briefs CPUC Proposed Decision Track 1: 2021–2023 GRC Revenue Requirement ✓ ✓ ✓ ✓ ✓ Track 2: 2018–2019 FMA Update1 ✓ ✓ ✓ N/A due to settlement ✓ (Approved) Track 3: 2020 FMA Update1; 2018–2020 GS&RP ✓ Q3 ’21 Q3 ’21 Q4 ’21 Q1 ’22 Track 4: RAMP and 2024 Attrition Year Q2 ‘22 Q1 ‘23 Q1 ‘23 Q3 ’23 Q4 ‘23 1. Fire Memo Accounts (FMA) include Wildfire Mitigation Plan Memo Account, Fire Hazard Prevention Memo Account, and Fire Risk Mitigation Memo Account July 29, 2021 Estimated timeline for 2021 General Rate Case tracks and milestones

17 Year-to-Date Earnings Summary July 29, 2021 1. See Earnings Non-GAAP Reconciliations and Use of Non-GAAP Financial Measures in Appendix 2. For comparability, 2021 core drivers reported based on 2020 weighted-average share count of 366.8 million (2020 YTD weighted-average shares outstanding is 379.4 million) 3. Includes $0.10 of lower tax benefits related to balancing accounts, which are offset in revenue Note: Diluted earnings were $1.52 and $1.36 per share for the six months ended June 30, 2021 and 2020, respectively YTD YTD 2021 2020 Variance Basic Earnings Per Share (EPS) SCE 1.73 $ 1.64 $ 0.09 $ EIX Parent & Other (0.21) (0.27) 0.06 Basic EPS 1.52 $ 1.37 $ 0.15 $ Less: Non-core Items1 SCE (0.21) $ (0.20) $ (0.01) $ EIX Parent & Other — (0.08) 0.08 Total Non-core Items (0.21) $ (0.28) $ 0.07 $ Core Earnings Per Share (EPS) SCE 1.94 $ 1.84 $ 0.10 $ EIX Parent & Other (0.21) (0.19) (0.02) Core EPS 1.73 $ 1.65 $ 0.08 $ Key SCE EPS Drivers2 Higher revenue3 0.16 $ CPUC revenue 0.08 FERC and other operating revenue 0.08 Lower O&M 0.32 Higher depreciation (0.17) Lower net financing costs 0.05 Income taxes3 (0.12) Other (0.08) Property and other taxes (0.05) Other income and expenses (0.03) Results prior to impact from share dilution 0.16 $ Impact from share dilution (0.06) Total core drivers 0.10 $ Non-core items1 (0.01) Total 0.09 $ (0.02) $ Total core drivers (0.02) $ Non-core items1 0.08 Total 0.06 $ Key EIX EPS Drivers2 EIX Parent and Other

18 Earnings Non-GAAP Reconciliations July 29, 2021 Reconciliation of EIX GAAP Earnings to EIX Core Earnings Earnings (Losses) Attributable to Edison International, $ in Millions Q2 2021 Q2 2020 YTD 2021 YTD 2020 SCE 359 $ 381 $ 655 $ 600 $ EIX Parent & Other (41) (63) (78) (99) Basic Earnings 318 $ 318 $ 577 $ 501 $ Non-Core Items SCE 2017/2018 Wildfire/Mudslide Events expenses (6) (9) (10) (9) Wildfire Insurance Fund expense (39) (60) (77) (120) Sale of San Onofre nuclear fuel 7 37 7 37 Re-measurement of tax liabilities — — — 18 EIX Parent & Other Goodwill impairment — (25) — (25) Re-measurement of tax liabilities — — — (3) Less: Total non-core items (38) $ (57) $ (80) $ (102) $ SCE 397 413 735 674 EIX Parent & Other (41) (38) (78) (71) Core Earnings 356 $ 375 $ 657 $ 603 $

19 EIX Core EPS Non-GAAP Reconciliations July 29, 2021 1. 2021 EPS drivers are reported based on weighted-average share counts of 379.6 million and 379.4 million for QTD and YTD, respectively; 2020 EPS drivers are based on weighted-average share counts of 375 million and 366.8 million for QTD and YTD, respectively Reconciliation of EIX Basic Earnings Per Share to EIX Core Earnings Per Share EPS Attributable to Edison International Q2 2021 Q2 2020 YTD 2021 YTD 2020 Basic EPS 0.84 $ 0.85 $ 1.52 $ 1.37 $ Non-Core Items SCE 2017/2018 Wildfire/Mudslide Events expenses (0.02) (0.02) (0.03) (0.02) Wildfire Insurance Fund expense (0.10) (0.16) (0.20) (0.33) Sale of San Onofre nuclear fuel 0.02 0.10 0.02 0.10 Re-measurement of tax liabilities — — — 0.05 EIX Parent & Other Goodwill impairment — (0.07) — (0.07) Re-measurement of tax liabilities — — — (0.01) Less: Total Non-Core Items (0.10) (0.15) (0.21) (0.28) Core EPS 0.94 $ 1.00 $ 1.73 $ 1.65 $

20 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 (626) 302-2540 sam.ramraj@edisonintl.com Use of Non-GAAP Financial Measures July 29, 2021

XML

Document and Entity Information	Jul. 29, 2021
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Document Type	8-K
Document Period End Date	Jul. 29, 2021
Entity File Number	1-9936
Entity Registrant Name	EDISON INTERNATIONAL
Entity Incorporation, State or Country Code	CA
Entity Tax Identification Number	95-4137452
Entity Address, Address Line One	2244 Walnut Grove Avenue
Entity Address, Adress Line Two	(P.O. Box 976)
Entity Address, City or Town	Rosemead
Entity Address, State or Province	CA
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Title of 12(b) Security	Common Stock, no par value
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Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
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Southern California Edison
Entity Information [Line Items]
Document Type	8-K
Document Period End Date	Jul. 29, 2021
Entity File Number	1-2313
Entity Registrant Name	SOUTHERN CALIFORNIA EDISON COMPANY
Entity Incorporation, State or Country Code	CA
Entity Tax Identification Number	95-1240335
Entity Address, Address Line One	2244 Walnut Grove Avenue
Entity Address, Adress Line Two	(P.O. Box 800)
Entity Address, City or Town	Rosemead
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91770
City Area Code	(626)
Local Phone Number	302-1212
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0000092103
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