Public Service Enterprise Group Inc

Our climate lobbying and advocacy efforts are managed by the federal and state governmental affairs teams and led by the Senior Vice President, Corporate Citizenship, who is responsible for areas of the business that drive public policy through advocacy, including federal, state and local government affairs, charitable activities and corporate social responsibility. On an annual basis, the leadership within Corporate Citizenship provides a report to the GNS Committee of the Board that encompasses lobbying activity and spending. [...] Our lobbying efforts at both the state and federal levels are aligned with public policy objectives that support the modernization of our energy infrastructure, improve reliability, increase energy efficiency and deliver cleaner energy to our customers. We focus on communicating to and educating our stakeholders on the key issues affecting PSEG, managing the risks associated with regulatory and policy changes, and advocating for policies which will drive our growth as the economy decarbonizes. [...] Trade association policies generally reflect compromise among members, so the policy positions and lobbying activities of these associations may not align with PSEG's positions on a particular issue. In this case, we work to mitigate any risks associated with such misalignment. Specifically, we seek to do this in three primary ways: 1. Education of the association staff and key members; 2. Ongoing engagement with the trade association and members to try to move consensus positions; and 3. If needed, dissenting from association positions, including not providing formal company participation or endorsement. A climate-alignment review of the trade associations listed in our 2022 Political Contributions Report is provided in the Appendix.

Public Service Enterprise Group Incorporated (\"PSEG\" or "Company") takes an active role in the political process by communicating with government agencies and officials, participating in trade associations and other tax-exempt organizations, making political contributions and expenditures, and engaging in other activities to advance the interests of PSEG and its stakeholders.

Our goals are to contribute constructively to the formulation of public policy and to develop relationships of mutual trust with public officials, regulators, customers, community and NGO leaders, industry and business colleagues, shareholders and other important stakeholders.  Our political spending is guided by these goals as well as our vision of a future where people use less energy, and the energy they use is cleaner, safer, and delivered more reliably than ever.

In addition, PSEG's political participation is carried out in a lawful and ethical manner that builds our community, reflects responsible corporate citizenship, and fulfills our duties to shareholders, regulators, and other stakeholders.  Expenditures are made without regard to the personal political views of its individual officers, directors, and agents.

Finally, we align our lobbying activities and trade association participation with our operational needs and with policies that will enable us to invest in the economy, environment and infrastructure to make the states where we operate better places to live and work.  We champion policies that help us fulfill our mission to provide an infrastructure to access safe, affordable, reliable and cleaner energy and to work toward a carbon-free economy. Our investments in electric transmission and distribution, gas system modernization to reduce methane leaks, energy efficiency, EV and EV charging infrastructure and numerous other efforts are covered in our Sustainability and Climate Reports and various other publicly available materials on our website.

For further details concerning PSEG's expectations of all employees when: interacting with government officials, making political contributions or expenditures, hiring or promoting candidates with a connection to or referral from a political figure, and retaining certain entities who have relationships with or connections to political figures to provide goods or services to the Company please refer to our corporate Political Participation Practice

Additionally, we ask trade associations to provide links to their political spending reports, if available, which we will begin providing with our Jan 2024 report.

Continued Izzo: "Governance is critical to the success of any initiative and this is especially true in the significant matters of ESG. As with all major sustainability and ESG initiatives, our board has a direct role in overseeing how we integrate the net-zero 2030 vision into business planning and measuring its success over time."