PointState Capital Reports New 5.1% Stake in PG&E Corporation

Overview & Summary of Filing

On September 4, 2026, PointState Capital LP, alongside its affiliates and managing member Zachary J. Schreiber, filed an initial Schedule 13G disclosing beneficial ownership of 112,703,834 shares of PG&E CORPORATION ($PCG) Common Stock. This position represents 5.1% of the outstanding class as of the event date of August 28, 2026.

Reporting Entities & Ownership Structure

The Schedule 13G was jointly filed by the following reporting entities:

1. SteelMill Master Fund LP – Cayman Islands exempted limited partnership (Direct holder).
2. PointState Holdings LLC – General partner of SteelMill Master Fund LP.
3. PointState Capital LP – Investment manager to SteelMill Master Fund LP.
4. PointState Capital GP LLC – General partner of PointState Capital LP.
5. Zachary J. Schreiber – Managing member of PointState Holdings LLC and PointState Capital GP LLC.

Voting and Dispositive Powers

• Sole Voting Power: 0 shares
• Shared Voting Power: 112,703,834 shares
• Sole Dispositive Power: 0 shares
• Shared Dispositive Power: 112,703,834 shares
• Total Beneficial Ownership: 112,703,834 shares (5.1%)

Regulatory Classification & Investment Intent

This filing was submitted pursuant to Rule 13d-1(c) under the Securities Exchange Act of 1934, indicating that the shares were acquired in the ordinary course of business and not with the purpose or effect of changing or influencing the control of the issuer.