The common stock is listed on the NYSE

Davis Polk acted as counsel to the sales agents and the forward purchasers through the sales agents as forward sellers, in connection with an at-the-market forward underwriting program for the offer and sale of shares of common stock of Portland General Electric Company (PGE) from time to time having an aggregate offering price of up to $400 million. The common stock is listed on the New York Stock Exchange under the ticker symbol “POR.”

PGE is an integrated electric utility company headquartered in Portland, Oregon. It engages in the generation, purchase, transmission, distribution and retail sale of electricity to over 930,000 retail customers. PGE, incorporated in 1930, participates in the wholesale market through the purchase and sale of electricity and natural gas, as well as buying and selling transmission products and services. Its service area includes approximately 4,000 square miles entirely in Oregon, with an estimated population of 1.9 million.

The Davis Polk capital markets team included partner Michael Kaplan and associates Dylan H. Lojac and Andrew Masaru Orita. The equity derivatives team included partner Mark M. Mendez and associate Amy Cheng. The tax team included counsel Liang Zhang and associates Alanna Phillips and Isaiah B. Kramer. Counsel David A. Zilberberg provided environmental advice. All members of the Davis Polk team are based in the New York office.

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