Portland General Electric (POR) Announces CFO Jim Lobdell to Retire at Year End

Portland General Electric Company (NYSE: POR) ("PGE" or the "Company") today announced that Jim Lobdell, senior vice president of Finance, CFO and treasurer, plans to retire at year end. Jim Ajello, former executive vice president and CFO of Hawaiian Electric Industries, has been appointed senior advisor as of November 30th, and Chief Financial Officer, effective as of January 1st. Brett Sims, senior director of Strategy, Commercial and Regulatory Affairs, has been appointed vice president of Strategy, Regulation and Energy Supply, effective October 30th.

"On behalf of the entire Board and leadership team, I would like to thank Jim Lobdell for his dedication and many contributions to PGE throughout his 36-year career," said Maria Pope, PGE president and CEO. "Jim has been instrumental in driving financial improvements and has helped ensure we're delivering safe, reliable and affordable electricity to our customers through his leadership around the Boardman coal plant closure and in laying the foundation for a new generation. In particular, he helped secure more than 1000 MW in renewable energy. Jim's deep industry experience made him a valuable member of the team and we will miss his acumen for complexity and clarity of purpose. We appreciate Jim's commitment to ensuring a seamless transition and wish him well on his much-deserved retirement."

Pope continued, "We are pleased to welcome Jim Ajello to the PGE team, and look forward to benefitting from his broad-based background in energy, infrastructure and financial services. I also want to congratulate Brett Sims, whose collaborative work with our stakeholders and deep technical and regulatory experience and business acumen has resulted in positive outcomes for customers. We're confident that both Jim and Brett will be excellent members of our executive team as we build upon our strong foundation and continue powering our communities we serve."

"It has been an honor to work with such a talented team, and I'm immensely grateful for their support and camaraderie," said Lobdell. "I believe deeply in the future of PGE and cannot wait to see all that this incredible team accomplishes – for customers, shareholders and Oregonians alike – in the years to come."

"I am thrilled by this opportunity to join an outstanding team during such a pivotal time in PGE's history," said Ajello. "I'm looking forward to working closely with the team to ensure we don't miss a beat in PGE's efforts to reduce costs and realize operational efficiencies as we work toward delivering on a clean energy future."

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