PG&E Wildfire Recovery Funding LLC

06/15/2026 | Press release | Distributed by Public on 06/15/2026 11:00

Asset-Backed Issuer Distribution Report (Form 10-D)



SEMI-ANNUAL SERVICER'S CERTIFICATE
Dated as of May 22, 2026
Pursuant to Section 4.01(c)(ii) of the Recovery Property Servicing Agreement, dated as of May 10, 2022 (the "Servicing Agreement"), between, PACIFIC GAS AND ELECTRIC COMPANY, a California corporation, as Servicer (the "Servicer"), and PG&E WILDFIRE RECOVERY FUNDING LLC, as Issuer (the "Issuer"), the Servicer does hereby certify, for the June 1, 2026 Payment Date (the "Current Payment Date"), as follows:
Capitalized terms used herein have their respective meanings as set forth in the Indenture. References herein to certain sections and subsections are references to the respective sections of the Servicing Agreement or the Indenture, as the context indicates.
Collection Periods: November 21, 2025 to May 21, 2026
Payment Date: June 1, 2026


1. Collections Allocable and Aggregate Amounts Available for the Current Payment Date:
Fixed Recovery Charge Remittances
a.
Estimated Monthly Fixed Recovery Charges Remitted for November Collection Period1
$ 5,202.16
b.
Estimated Monthly Fixed Recovery Charges Remitted for December Collection Period
20,238,845.09
c.
Estimated Monthly Fixed Recovery Charges Remitted for January Collection Period
18,630,450.91
d.
Estimated Monthly Fixed Recovery Charges Remitted for February Collection Period
16,589,815.21
e.
Estimated Monthly Fixed Recovery Charges Remitted for March Collection Period
19,789,108.17
f.
Estimated Monthly Fixed Recovery Charges Remitted for April Collection Period
18,971,602.30
g.
Estimated Monthly Fixed Recovery Charges Remitted for May Collection Period2
14,733,564.51
i.
Total Estimated Fixed Recovery Charge Remittances
$ 108,958,588.35
ii.
Investment Earnings on Collection Account
iii. Investment Earnings on Capital Subaccount
iv. Investment Earnings on Excess Funds Subaccount
v. Investment Earnings on General Subaccount
$ 336,630.56
13,019.20
1,026,023.07
vi.
General Subaccount Balance (sum of i and v above)
109,984,611.42
vii.
Excess Funds Subaccount Balance as of Prior Payment Date
872,481.80
viii.
Capital Subaccount Balance as of Prior Payment Date
18,594,973.78
ix.
Collection Account Balance (sum of vi -viii above)
$110,857,093.22
2. Outstanding Amounts as of Prior Payment Date:
i.
Tranche A-1 Outstanding Amount
$ 312.908,852.00
ii.
Tranche A-2 Outstanding Amount
540,000,000.00
iii.
Tranche A-3 Outstanding Amount
360,000,000.00
iv.
Tranche A-4 Outstanding Amount
1,260,000,000.00
v.
Tranche A-5 Outstanding Amount
900,000,000.00
vi.
Aggregate Outstanding Amount of all Tranches of Recovery Bonds
3,372,908,852.00
3. Required Funding/Payments as of Current Payment Date:
$ 108,655,143.07
Principal
Principal Due
i.
Tranche A-1
$ 34,569,171.00
ii.
Tranche A-2
-
iii.
Tranche A-3
-
iv.
Tranche A-4 -
v.
Tranche A-5 -
vi.
For all Tranches of Recovery Bonds: $ 34,569,171.00

1 November 2025 total remittances equaled $17,972,534.63 out of which $17,967,332.47 was reported in the Semi-Annual Certificate filed in November 2025
2 Based upon Estimated Fixed Recovery Charges remitted during Collection Period (i.e. Estimated Fixed Recovery Charges remitted within two Servicer Business Days of deemed collection date). Does not include reconciliation amounts calculated for the Reconciliation Period for such Collection Period, which will be settled in the month following such Collection Period.


Interest Tranche Interest Rate Days in Interest Period Principal Balance

Interest Due
vii. Tranche A-1 3.594% 180
$ 312,908,852.00
$ 5,622,972.07
viii. Tranche A-2 4.263% 180
540,000,000.00
11,510,100.00
ix. Tranche A-3 4.377% 180
360,000,000.00
7,878,600.00
x. Tranche A-4 4.451% 180
1,260,000,000.00
28,041,300.00
xi. Tranche A-5 4.674% 180
900,000,000.00
21,033,000.00
xii. For all Tranches of Recovery Bonds:
$ 74,085,972.07
Required Level
Funding Required
ix. Capital Subaccount $18,000,000.00
-
4. Allocation of Remittances as of Current Payment Date Pursuant to 8.02(e) of Indenture
i. Indenture Trustee Fees and Expenses; Indemnity Amounts3
-
ii. Servicing Fee
900,000.00
iii. Administration Fee
62,500.00
iv. Other Ongoing Financing Costs Expenses
20,500.00
v. Semi-Annual Interest (including any past-due for prior periods)
74,085,972.07
vi. Return on PG&E Capital Contribution and any remittance of unpaid upfront financing costs
$ 403,341.18

Tranche Per $1000 of Original Principal Amount Aggregate
1. Tranche A-1 Interest Payment
$ 5,622.97
$ 5,622,972.07
2. Tranche A-2 Interest Payment
11,510.10
11,510,100.00
3. Tranche A-3 Interest Payment
7,878.60
7,878,600.00
4. Tranche A-4 Interest Payment
28,041.30
28,041,300.00
5. Tranche A-5 Interest Payment
21,033.00
21,033,000.00

vii. Principal Due and Payable as a Result of an Event of Default or on Final Maturity Date
$ 3,372,908,852.00

Tranche Per $1000 of Original Principal Amount Aggregate
1. Tranche A-1 Principal Payment
$ 34,569.17
$ 34,569,171.00
2. Tranche A-2 Principal Payment
-
-
3. Tranche A-3 Interest Payment
- -
4. Tranche A-4 Interest Payment

- -
5.
Tranche A-5 Principal Payment
-
-


viii. Semi-Annual Principal
34,569,171.00
ix. Deposit to Excess Funds Subaccount
-
x. Released to Issuer upon Retirement of all Notes
-
xi. Aggregate Remittances as of Current Payment Date
$ 108,958,588.35

3 Subject to $200,000 cap per annum


5. Subaccount Withdrawals as of Current Payment (if applicable, pursuant to Section 8.02(e) of Indenture:
i. Excess Funds Subaccount4
$ 43,853.60
ii. Capital Subaccount
-
iii. Total Withdrawals
$ 43,853.60

6. Outstanding Amount and Collection Account Balance as of Current Payment Date (after giving effect to payments to be made on such Payment Date):
i. Tranche A-1
$ 278,339,681.00
ii. Tranche A-2
540,000,000.00
iii. Tranche A-3
360,000,000.00
iv. Tranche A-4
1,260,000,000.00
v. Tranche A-5
900,000,000.00
vi. Aggregate Outstanding Amount of all Tranches of Recovery Bonds:
3,338,339,681.00
vii. Excess Funds Subaccount Balance
828,628.20
viii. Capital Subaccount Balance
18,931,604.34
ix. Aggregate Collection Account Balance
$19,760,232.54

7. Shortfalls in Interest and Principal Payments as of Current Payment Date
i. Semi-annual Interest
Tranche A-1 Interest Payment
$ -
Tranche A-2 Interest Payment
-
Tranche A-3 Interest Payment
-
Tranche A-4 Interest Payment
-
Tranche A-5 Interest Payment
-
ii. Semi-Annual Principal
Tranche A-1 Principal Payment
-
Tranche A-2 Principal Payment
-
Tranche A-3 Principal Payment
-
Tranche A-4 Principal Payment
-
Tranche A-5 Principal Payment
-
8. Shortfalls in Required Subaccount Levels as of Current Payment Date
i. Capital Subaccount
$ -

4 Withdrawal reflects intra-period transfer of investment earnings under Section 1.ii.iv. to the General Subaccount


IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Semi-Annual Servicer's Certificate as of the date first above written.
SERVICER:

PACIFIC GAS AND ELECTRIC COMPANY,
a California corporation

By: /s/ MONICA KLEMANN
Name: Monica Klemann
Title: Senior Director, Assistant Treasurer


PG&E Wildfire Recovery Funding LLC published this content on June 15, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on June 15, 2026 at 17:00 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]