PG&E Corporation has entered into an agreement to issue 28 million shares of 6.000% Series A Mandatory Convertible Preferred Stock, with an initial liquidation preference of $50.00 per share, and an option for underwriters to purchase an additional 4.2 million shares. The offering closed on December 5, 2024, and dividends will be paid at a rate of 6.000% starting March 1, 2025.