Item 5. OTHER INFORMATION

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

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

During the three months ended March 31, 2024, none of the Company’s directors or officers adopted, terminated or modified a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement (as such terms are defined in Item 408 of Regulation S-K of the Securities Act of 1933).

Federal Regulation

Regulation of Wholesale Sales—Generation/Market Issues/Market Power

December 31, 2023 Form 10-K page 10. In March 2024, FERC issued a notice of proposed rulemaking proposing to eliminate compensation for reactive power in circumstances when the generator is operating within the normal power factor range specified in its interconnection agreement. PSEG Power receives reactive power compensation for its nuclear units. Therefore, we plan to actively participate in this rulemaking proceeding but cannot predict the outcome.

Capacity Market Issues

December 31, 2023 Form 10-K page 10. In October 2023, PJM submitted two related filings at FERC proposing reforms to its capacity market design. However, in February 2024, FERC issued an order rejecting PJM’s second package of reforms, including PJM’s proposed changes to its supply-side market power mitigation rules. Several parties have sought rehearing of FERC’s rejection order. In February 2024, PJM submitted a request asking FERC to delay the commencement of the base residual auction for the 2025/26 Delivery Year to mid-July 2024, which FERC granted.

In March 2024, the U.S. Court of Appeals for the Third Circuit (Third Circuit Court) issued a decision vacating an order in which FERC accepted PJM’s proposal to revise its planning parameters for one capacity market zone and to apply those revised planning parameters to the capacity auction for the 2024/2025 delivery that had already begun. The Third Circuit Court found that FERC’s order constituted retroactive ratemaking and vacated FERC’s decision. Before the Third Circuit Court remanded the matter back to FERC, PJM submitted a petition asking FERC to issue an order confirming the original results (those not reflecting revised planning parameters) of the auction for the 2024/2025 Delivery Year and to authorize PJM to rerun the third incremental auction. We cannot predict whether FERC will grant PJM’s petition.

Nuclear Regulatory Commission (NRC)

December 31, 2023 Form 10-K page 11. In March 2024, PSEG notified the NRC of our intent to seek a second license renewal for our Salem and Hope Creek units. This second license renewal would extend the operating licenses through 2056 and 2060 for Salem Units 1 and 2, respectively, and 2066 for Hope Creek.

Environmental Matters

Hazardous Substance Liability

December 31, 2023 Form 10-K page 15. In April 2024, the EPA released a final regulation designating perfluorooctanoic acid (PFOA) and perfluorooctanesulfonic acid (PFOS), along with their salts and structural isomers, as hazardous substances under the federal Superfund law. We are unable to predict the impact of this regulation at this point on PSEG, but it could have a material impact on our business, results of operations and cash flows due to the retroactive, strict, and joint and several nature of liability under the federal Superfund law.

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