The following is a reconciliation of PG&E Corporation’s income available for common shareholders and weighted average common shares outstanding for calculating diluted EPS: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | (in millions, except per share amounts) | 2026 | | 2025 | | 2026 | | 2025 | | Numerator | | | | | | | | | Income available for common shareholders, basic | $ | 733 | | | $ | 521 | | | $ | 1,591 | | | $ | 1,128 | | | Plus: Mandatory Convertible Preferred Stock dividends | 24 | | | — | | | 48 | | | — | | | Income available for common shareholders, diluted | $ | 757 | | | $ | 521 | | | $ | 1,639 | | | $ | 1,128 | | | | | | | | | | | Denominator | | | | | | | | Weighted average common shares outstanding, basic(1) | 2,202 | | | 2,198 | | | 2,201 | | | 2,196 | | | Dilutive effect of Employee stock-based compensation | 5 | | | 5 | | | 5 | | | 5 | | | Dilutive effect of Mandatory Convertible Preferred Stock | 78 | | | — | | | 78 | | | — | | | Weighted average common shares outstanding, diluted | 2,285 | | | 2,203 | | | 2,284 | | | 2,201 | | | | | | | | | | | Total income per common share: | | | | | | | | | Basic | $ | 0.33 | | | $ | 0.24 | | | $ | 0.72 | | | $ | 0.51 | | | Diluted | $ | 0.33 | | | $ | 0.24 | | | $ | 0.72 | | | $ | 0.51 | | | | | | | | | |
(1) Excludes 477,743,590 shares of PG&E Corporation common stock held by the Utility.
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