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, 2026, certain of our officers and directors adopted, terminated or modified 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 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.

Federal Regulation

Transmission Regulation—Transmission Planning Proceedings

December 31, 2025 Form 10-K page 11. In March 2026, FERC issued an order addressing a longstanding dispute about the methodology used in PJM to calculate and assign transmission project costs. The FERC order, among other things, rejected a proposed settlement agreement that would have shifted significant costs to PSE&G’s transmission customers. FERC directed PJM to recalculate cost responsibility assignments and resettle billings going back to 2015. We cannot predict the outcome of this proceeding.

Capacity Market Issues

December 31, 2025 Form 10-K page 12. PJM operates a capacity market called the Reliability Pricing Model (RPM), the rules for which are approved by FERC. Over the past few years, RPM has been under considerable scrutiny at both the federal and state level as clearing prices in the capacity auctions have reached unprecedented levels and there is growing concern that the capacity market is not procuring sufficient generation to meet increasing demand for electricity. In PJM’s most recent capacity auction run in December 2025, the auction cleared at the FERC-approved price cap of $333.44/MW-day, and PJM indicated that without the price cap the clearing price would have been $529.80/MW-day. In February 2026, PJM filed with FERC a proposal to extend the price cap for another two delivery years (2028/29 and 2029/30) and, in April 2026, FERC issued an order accepting PJM’s proposal.

Compliance – FERC Audit

In April 2026, FERC commenced an audit of PSE&G regarding its transmission formula rate. The audit will examine PSE&G’s compliance with (i) FERC accounting, record-keeping and record preservation rules, (ii) FERC Form No. 1 and related quarterly reporting requirements and (iii) the company’s formula rate tariff requirements. FERC will issue a report at the conclusion of the audit. We cannot predict the outcome of this audit.

State Regulation

Energy Efficiency, Triennial Review

December 31, 2025 Form 10-K page 14. In November 2025, BPU Staff issued its straw proposal for the third triennium framework and requirements for energy efficiency programs. While it was previously anticipated that, in the event of the issuance by the BPU of a final framework for the third triennium during the first half of 2026, utilities could have been expected to file triennium 3 program proposals during 2026 for a program to begin in 2027, the BPU has issued a straw proposal extending the programs from the second triennium for an additional year to accommodate the time needed for the BPU to establish the third triennium framework. The final framework for the extension is expected to be released in July 2026.

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Any such extension would delay issuance of a final framework for the third triennium, the timing of any program proposals that utilities would need to file relating to a third triennium framework and program commencement. We cannot predict the outcome of this matter at this time.

Nuclear Waste Legislation

In April 2026, the New Jersey Governor signed legislation that lifts New Jersey’s de facto moratorium on new nuclear plant construction. Prior to its amendment by the new legislation, the Coastal Area Facility Review Act blocked new permits for the construction and operation of new nuclear energy facilities by requiring an approved method by the Nuclear Regulatory Commission (NRC) for radioactive waste disposal, an outdated standard that cannot be met. This new legislation resolves the issue by allowing the New Jersey DEP Commissioner to approve permits based on safe, NRC-compliant waste storage.

New Jersey State Agreement Approach (SAA)

In 2021, PJM announced the opening of the first public policy Order 1000 bid window that would utilize the SAA for transmission projects to support New Jersey’s planned offshore wind generation and PSEG and Ørsted North America Inc. jointly submitted several proposals in response to the solicitation, including multi-spur options and an offshore network proposal. In 2022, the BPU awarded several on-shore solutions, with PSE&G being awarded $40 million for transmission upgrades. In April 2026, PJM submitted a filing at FERC requesting acceptance of the Mutual Termination Agreement between the BPU and PJM relating to the SAA offshore wind transmission projects, pursuant to which most of the SAA projects would be canceled. Of the five projects awarded to PSE&G, three will be cancelled upon FERC approval of this agreement.

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