Item 5. OTHER INFORMATION

Certain information is provided below for new matters that have arisen subsequent to the filing of the Form 10-K and the first quarter 2023 10-Q.

Director and Officer Rule 10b5-1 and non-Rule 10b5-1 Trading Plans

During the three months ended June 30, 2023, certain of our officers and directors adopted or terminated trading plans for the sale of PSEG common stock which are intended to satisfy the affirmative defense of Rule 10b5-1(c) of the Exchange Act, as amended, as shown in the following table:

(A) Expires on the date shown or such earlier date upon the completion of all trades under the plan or the occurrence of such other termination events as specified in the plan, including but not limited to termination of the plan by Ms. Chernick.

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Federal Regulation

Transmission Planning Proceedings

December 31, 2022 Form 10-K page 10. In June 2023, FERC issued a rule directing the North American Electric Reliability Corporation (NERC) to either change existing reliability standards or create a new standard that will require regional transmission organizations (RTOs) like PJM to plan for extreme weather events. FERC also issued a rule directing RTOs to file one-time informational reports describing their current and future processes for conducting extreme weather assessments.

Capacity Market Issues

December 31, 2022 Form 10-K page 11 and March 31, 2023 Form 10-Q page 66. In June 2023, FERC approved PJM’s request to delay the base residual auctions for 2025-2029, starting with postponing the June 2023 base residual auction for delivery year 2025/2026 until June 2024 while PJM considers changes to its capacity markets. The following three base residual auctions would occur at six-month intervals. PJM is currently examining various capacity market reforms, including changes to how capacity resources are compensated for their availability and the imposition of more stringent winterization requirements.

Compliance—Reliability Standards

December 31, 2022 Form 10-K page 11 and March 31, 2023 Form 10-Q page 66. FERC and the NERC are conducting a joint inquiry into the operation of the Bulk Power System (BPS) during Winter Storm Elliott that struck in late 2022. We received and responded to information requests from FERC and NERC regarding the performance of our generators during the storm. Relatedly, in February 2023, FERC approved additional reliability standards governing extreme cold weather preparedness and operations, which will begin going into effect in 2024. In addition, FERC recently directed NERC to revise existing or develop new transmission planning standards that will require enhanced planning for extreme weather events.

State Regulation

New Jersey EMP and Future of Gas Stakeholder Proceeding

March 31, 2023 Form 10-Q page 66. In February 2023, Governor Murphy issued three EOs, one of which directs the BPU to immediately convene a stakeholder process on the future of gas to develop a plan to meet the State’s current EMP goal to reduce emissions by 50% versus 2006 levels by 2030. In March 2023, the BPU opened a stakeholder proceeding to implement such EO that will commence in August 2023 with a two-day technical conference. This proceeding will consider the possible development of a “clean heat standard” or other market mechanisms to support the State’s goals, among other things. Additionally, in April of 2023 the governor’s office Council on the Green Economy initiated a “Clean Buildings Working Group” that is considering pathways for building electrification and meeting gas utility emissions reduction goals, including development of a clean heat standard. PSE&G was invited to participate in this working group focused on strategic planning. We cannot predict the impact on our business or results of operations from these stakeholder proceedings, or any laws, rules, or regulations promulgated as a result thereof, particularly as they may relate to PSEG Power’s nuclear energy generating stations and PSE&G’s electric transmission and gas distribution assets.

Energy Efficiency, Triennial Review

March 31, 2023 Form 10-Q page 66. In May 2023, rather than issue a single Order as originally contemplated, the BPU issued its first Energy Efficiency Framework Order, which addresses program administration and design, cost recovery and filing requirements, among other things. In July 2023, the BPU issued a second Order related to the Energy Efficiency Framework. This Order addresses goals, a performance incentive mechanism, building decarbonization and demand response.

BGS Process

December 31, 2022 Form 10-K page 13 and March 31, 2023 Form 10-Q page 67. In June 2023, the State’s electric distribution companies (EDCs), including PSE&G, filed their annual joint proposal for the conduct of the February 2024 BGS auction covering energy years 2025 through 2027. As was directed by a November 2022 BPU order, PSE&G participated in a working group led by BPU Staff to consider proposals for a commercial direct current, fast-charging (DCFC) rate solution. PSE&G’s proposal included in the June 2023 joint EDC BGS filing is for a two-year DCFC BGS rate pilot program to begin June 1, 2024. Also in accordance with the November 2022 order’s directive that the EDCs implement a rate solution for residential EV charging customers, in May 2023, the BPU approved PSE&G’s proposal for a BGS time-of-use rate solution for residential EV charging, with rates effective June 1, 2023.

Environmental Matters

Environmental Justice (EJ)

December 31, 2022 Form 10-K page 16 and March 31, 2023 Form 10-Q page 67. In April 2023, the New Jersey Department of Environmental Protection (NJDEP) finalized its EJ regulations. The regulations supersede a previously issued EJ

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administrative order and require review of potential EJ impacts from a wide variety of environmental permit applications at certain designated facilities. The NJDEP may impose permit conditions or deny permits if the impacts cannot be satisfactorily mitigated. We do not currently anticipate that these regulations will have a material impact on the business, operations, financial position or cash flows of PSEG and PSE&G.

New Jersey Protecting Against Climate Threats (NJ PACT)

December 31, 2022 Form 10-K page 16. This NJDEP regulatory reform is expected to result in changes to existing air and land use regulations in response to anticipated impacts of climate change. It has already published a final, updated regulation pertaining to inland flood protection which is intended to protect new development from river or stream flooding, which went into effect in July 2023. We do not currently anticipate any specific material impacts from this regulation.

We continue to assess the potential impact of other proposed NJ PACT regulations, which include proposed real estate and land use regulations that could have cost implications for business operations, including the construction of new facilities or upgrades to existing utility infrastructure. Such expenditures could materially affect the continued economic viability and/or cost to construct one or more such facilities. However, the impacts of these new rules are both site and activity specific to the proposed development and therefore can only be determined during the project phases of specific projects.

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