EDISON INTERNATIONAL

Edison International (EIX) and its subsidiary Southern California Edison (SCE) provided a business update to investors and analysts, focusing on their strategy for grid modernization, wildfire mitigation, and enabling the clean energy transition. The company highlighted significant infrastructure investment opportunities, regulatory frameworks supporting revenue certainty, and the projected impact of electrification on future electricity demand. Key initiatives include hardening the grid, deploying new technologies to prevent wildfires, and advancing clean energy goals with a target of net-zero emissions by 2045. SCE also emphasized its commitment to customer affordability, noting its position as the lowest-cost provider among California IOUs and projecting rate growth at or below inflation.

Edison International presented a business update to institutional investors and analysts, outlining its strategy for electrifying the future and mitigating wildfire risks. The company plans ~$38-$41 billion in capital expenditures from 2026-2030, targeting a ~7% rate base CAGR and a 45-55% dividend payout of SCE core earnings. The update highlighted significant load growth driven by electrification, ongoing wildfire mitigation efforts, and a constructive regulatory environment.

Edison International reported a significant increase in core earnings for the second quarter of 2026, rising by $218 million to $592 million, primarily driven by SCE's improved performance. Net income also saw a substantial increase to $534 million. The company completed the disposition of Trio, resulting in $36 million in losses for the first half of the year. However, the company faces ongoing financial implications from the Eaton Fire, with $1.6 billion in recorded losses and ongoing litigation, though significant recoveries are expected from self-insurance and the Wildfire Fund.

Edison International reported strong second-quarter 2026 financial results, with GAAP EPS of $1.39 and core EPS of $1.54, significantly higher than the prior year. The company reaffirmed its 2026 core EPS guidance of $5.90-$6.20 and reiterated its long-term core EPS growth target of 5-7% from 2025-2030. Operational highlights included continued progress in wildfire mitigation efforts, with substantial deployment of covered conductors and undergrounding, and the extension of over $775 million in offers through its Wildfire Recovery Compensation Program.

Edison International announced its agreement on April 30, 2026, to sell $500,000,000 in principal amount of its 5.00% Senior Notes, which are due in 2028. The transaction details are further elaborated in the attached exhibits, including the Underwriting Agreement and the Sixteenth Supplemental Indenture.

Edison International provided a business update, affirming its Core EPS guidance for 2026-2028 and outlining a $38-$41 billion capital expenditure plan for 2026-2030. The company highlighted its wires-focused strategy, significant progress in wildfire mitigation efforts, and plans to electrify the future, expecting load to nearly double by 2045. Regulatory mechanisms in California provide revenue certainty, supporting strong rate base and dividend growth.

Edison International reported Q1 2026 net income of $531 million, a significant decrease of $905 million from Q1 2025, primarily due to lower wildfire-related recoveries. Despite this, core earnings increased by $18 million to $546 million. The company recorded $1.3 billion in losses related to Eaton Fire settlements, with ongoing litigation and potential for additional material losses. SCE's operating revenue increased by $294 million to $4.096 billion.

Edison International reported first-quarter 2026 GAAP EPS of $1.38 and core EPS of $1.42. Net income for the quarter was $531 million. The company affirmed its 2026 core EPS guidance of $5.90-$6.20 and expressed confidence in achieving 5-7% core EPS growth from 2025-2030. The performance reflects disciplined execution and operational progress, with a continued focus on affordability and community priorities, including wildfire mitigation.

Edison International's Board of Directors expanded from 11 to 12 members, electing M. Susan Hardwick as an independent director, effective April 23, 2026. She will serve on the Audit and Finance Committee and the Compensation Committee. Additionally, Maria Rigatti will resign as Executive Vice President and Chief Financial Officer on July 3, 2026, and retire from the company on September 1, 2026. Aaron D. Moss, currently SVP and CFO of Southern California Edison, has been appointed as the new Executive Vice President and Chief Financial Officer of Edison International, effective July 3, 2026, with an annual salary of $730,000 and an 85% target annual incentive.