Edison International — Oct 28, 2025 release

19, 20254 If required to reimburse new fund, IOU may reduce reimbursement by amount of contributions paid Gives IOUs right of first refusal for subrogation claim sales for wildfires ignited after SB 254’s effective date IOUs to securitize $6Bn of wildfire mitigation capital spending (SCE share: ~$2.9Bn)5 Constructive for potential Eaton Fire losses   4Edison International | Third-Quarter 2025 Earnings Call …and requires evaluation of broad long-term reforms, recognizing new models necessary to equitably socialize risk Recognizes climate-driven natural catastrophe costs exceed what customers or shareholders can bear Broad reforms across numerous sectors and stakeholders needed in response to emerging climate- fueled economic crisis Solutions should ensure IOUs are accountable for safety and also have the financial health to attract low- cost capital on behalf of customers CEA to perform comprehensive assessment on new models or approaches The CEA’s report, due to the Legislature and Governor by April 1, 2026, shall include specific recommendations, including, but not limited to: Reduction of Wildfire Risk and Damage Ensuring Fair Compensation Equitable Risk Socialization • Additional wildfire mitigation measures and technology solutions to reduce risk of ignition and limit spread and damage • Options for enactment of programs to reduce the risk of wildfires spreading and becoming high-severity catastrophes • Options for reducing economic damage resulting from wildfires and potentially other catastrophic natural disasters • Financing, insurance, and other mechanisms to expedite recovery for communities impacted by natural catastrophes • Options for enactment of streamlined, low-cost mechanism to provide injured parties full compensation for damages resulting from wildfires • Impacts of reasonable limitations on changes to recoveries in wildfire litigation arising from ignitions caused by utility infrastructure • Accessibility and affordability of property insurance in California • Alternative structures to socialize risk of damage from natural catastrophes • Additional measures to benefit ratepayers through reducing costs caused by fiscal uncertainty while holding IOUs accountable for improving safety and reducing risk • Options for new models to complement or replace the fund   5Edison International | Third-Quarter 2025 Earnings Call SCE and intervenors reach settlement agreement for Woolsey, which would authorize 35% cost recovery1 On September 19, 2025, SCE, Cal Advocates, EPUC, and SBUA filed a motion for approval of settlement agreement to recover ~$2.0 billion of ~$5.6 billion of losses1 Marks significant milestone and one step closer toward fully resolving 2017/2018 Wildfire/Mudslide Events Result of constructive negotiations and benefits financial strength of the utility and reduces costs for customers, supporting long-term affordability  Helps reduce excess financing costs to customers  Improves credit metrics (Up to 90bps FFO-to-Debt benefit)  Annualized interest expense benefit of ~18¢/share Combined with the previously-approved settlement for TKM cost recovery, would result in recovery of 43%, or ~$3.6 billion, of 2017/2018 Wildfire/Mudslide Events costs above insurance and FERC recoveries 1. Subject to CPUC approval. Amounts refer to WEMA costs (claims and associated financing and legal expenses). Proposed settlement would authorize recovery of 35% of WEMA costs and 85% of CEMA costs   6Edison International | Third-Quarter 2025 Earnings Call Resolution of legacy wildfires entering final stages: TKM settlement approved; Woolsey settlement pending approval TKM (A.23-08-013) Woolsey (A.24-10-002) Value ~$1.6 billion (Settlement value)1 ~$2.0 billion (Proposed settlement value)2 Next Steps Targeting issuance of securitized bonds by end of 2025 Pending proposed decision Avg. Residential Customer Cost3 ~$1.04/month ~$1.24/month (vs. average bill of ~$193) Modeling Considerations2017/2018 Wildfire/Mudslide Events Cost Recovery 1. Approved TKM settlement authorizes recovery of 60% of WEMA costs (claims and associated financing and legal expenses) and 85% of CEMA costs 2. Subject to CPUC approval. Proposed settlement would authorize recovery of 35% of WEM