ࡱ>  l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1 Courier New1 Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)-**_($* #,##0_);_($* (#,##0);_($* "-"_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* "-"_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* "-"??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* "-"??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)6 0%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0)                + ) , *   Ј ~~ ؈ ~~#؈ ~~8#܈ ~~ ؈ ~~<#܈ ~~4#܈ ~~7#܈ ~~3#܈ ~~83ffff̙̙3f3fff3f3f33333f33& Portland General Electric Compa%Portland General Electric (1)%r(Portland General Electric (2)o3Beneficial Ownership&oOPROPOSAL 1 ELECTION OF DIRECTOR&V]1PROPOSAL 2 RATIFICATION OF APPjSummary CompensationBeneficial Owne (1)!62017 DIRECTOR COMPENSATION&9Current Compensation Arrangeme=Board Committees EQUITY COMPENSATION PLANS&15PRINCIPAL ACCOUNTANT FEES AND Plan BenefitsS 2017 PEER GROUP2017 PEER GROUP (1)r'2017 Base Salaries&46362017 ANNUAL CASH INCENTIVE AW&DFINANCIAL PERFORMANCE TARGETS A&VR37OPERATING PERFORMANCE TARGETS#Qe37OPERATING PERFORMANCE (1)#Ww37OPERATING PERFORMANCE (2)&`ANNUAL CASH INCENTIVE PERFORMAN&NAMED EXECUTIVE OFFICER ANNUAL &*20172019 PERFORMANCE RSU AWARDS& PERFORMANCE TARGETS AND PAYOUT &20152017 LongTerm Incentive AwaX20152017 LONGTERM (1)Summary Compens (1)!U SUMMARY COMPENSATION TABLE SUMMARY COMPENSATION (1)3*ALL OTHER COMPENSATION ;Stock Option Grants a\Outstanding Equity Awards y48Stock Units VestedPPension Benefits Pension Plan&NonQualified Deferred Compensat&Termination and Change in Contr%OTermination and Change in (1)%Termination and Change in (2)%Termination and Change in (3)%Termination and Change in (4)%X-Termination and Change in (5)&nBWhat are the voting requirementtOIndex of Defined Terms_Index of Defined (1)kIndex of Defined (2) l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/ Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } $ } U5      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018)!Portland General Electric Company     ~ 2 *Title of each class of securities to which    the transaction applies: ~ / 'Aggregate number of securities to which    the transaction applies:~ 0(Per unit price or other underlying value/'of the transaction computed pursuant to4,Exchange Act Rule 0-11 (set forth the amount1)on which the filing fee is calculated and%state how it was determined):~ /'Proposed maximum aggregate value of the transaction:~ Total fee paid:$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:FqeYMAy,?=sg?=PF0*8X> @B   l  '  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } $ } U} 0      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018)!Portland General Electric Company    ~  Amount Previously Paid: ~ 0 (Form, Schedule or Registration Statement   No.: ~   Filing Party:~  Date Filed:$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,3|qeYMAj7=PF0*8X> @ l  3  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } 1      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018)!Portland General Electric Company    Jack E. Davis Chairman of the Board  Maria M. Pope-%President and Chief Executive Officer$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.qeYMA5)Y=PF0*8X> @ l  .HN  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } 7} } $ } U5} $} $ .     )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018Beneficial Ownership             Proxy Statement Summary~   / 'Proposal 4: Approval of Stock Incentive~ b     % Plan, as amended and restated0 (Security Ownership of Certain Beneficial~   2 *Compensation and Human Resources Committee~ z 0(Owners, Directors and Executive OfficersReport5-Section 16(a) Beneficial Reporting Compliance~ ,$Compensation Discussion and Analysis~ zExecutive Officers~ Executive Summary~ zCorporate Governance~ *"How We Make Compensation Decisions~ ~Board of Directors~  Elements of Compensation~ *"Non-Employee Director Compensation~ &$Other Compensation Practices~ Director Independence~ *%Executive Compensation Tables~ Board Committees~ .Summary Compensation~ /'Policies on Business Ethics and Conduct~ :#Grants of Plan-Based Awards~ 1)Certain Relationships and Related Persons~ :4,Outstanding Equity Awards at Fiscal Year-End~  Transactions-%Compensation Committee Interlocks and~ :Stock Units Vested~ Insider Participation!Equity Compensation Plans~ :Pension Benefits~ Audit Committee Report~ >+#Non-Qualified Deferred Compensation~ .&Principal Accountant Fees and Services~ B2*Termination and Change in Control Benefits~ 3+Pre-Approval Policy for Independent Auditor~ BAdditional Information~ ServicesD l~rfZN(% gQ[" !"#$%&'()*+,-) !Proposal 1: Election of Directors~ F  . &Questions and Answers about the Annual~  !!!!!Meeting"Board of Directors~ "F""1")Shareholder Proposals for the 2019 Annual~ ""#####Meeting$Director Nominees~ $F$$2$*Communications with the Board of Directors~ $$3%+Proposal 2: Ratification of the Appointment~ %Z%%.%&Appendix A - Portland General Electric %A-1%3&+of Independent Registered Public Accounting&&&,&$Company Amended Stock Incentive Plan 'Firm-(%Proposal 3: Non-Binding Advisory Vote~ (^((((6).on Approval of Compensation of Named Executive*Officers$+____________________________1,)Created by Morningstar Document Research.0-(http://documentresearch.morningstar.com/ aH p=PF0*8X> @--,,++ l  \  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } U} }       )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/20181)PROPOSAL 1: ELECTION OF DIRECTOR NOMINEES    Name Age Director Since John W. Ballantine~ "~ R Rodney L. Brown, Jr.~ ~ ^ Jack E. Davis, Chairman~ ~ rDavid A. Dietzler~ *~ ZKirby A. Dyess~ ~ f Mark B. Ganz~ ~ ZKathryn J. Jackson~ ~ zNeil J. Nelson~ ~ Z M. Lee Pelton~ ~ Z Maria M. Pope~ ~ Charles W. Shivery~ "~ z$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:Ui]QE9f'JpdX0=PF0*8X> @ l  i  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTORSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } a} $      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018aY1PROPOSAL 2: RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM         ~  ~   Audit Fees~ e  ~ .c  Audit-Related Fees~    ~ 2  Tax Fees ?   ? All Other Fees~ :;~ Y Total~ k~ bh$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.9-! uo=PF0*8X> @z         l  %  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } 6} } $ }  } $ } y} $ }  } $ }  } $ }  } $ } y} $ %     )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018Summary Compensation                    # Name and Principal Position Year  Salary   Stock Award . &Non-Equity Incentive Plan Compensation 1 )Change in Pension Value and Non-Qualified  All Other Compensation  Totals           & Deferred Compensation Earnings  James J. Piro~  ~ h4  ~ e_  ~ 6  ~ q  ~   ~   Chief Executive Officer*~  ~ > 3  ~ 2\  ~ )  ~ 2>  ~ r   ~ ~ ~ ~~ *1~ /U~   *  ~   ~ Ns~ \James F. Lobdell~ ~ J~ *~    ~    ~ ~ 2[-%Senior Vice President, Finance, Chief'Financial Officer and Treasurer~ ~ h~ 2~     ~  F ~ ~ N~ ~~ :~ ~  N   ~   ~ >~ ^A Maria M. Pope~ ~ . ~ JI!~  [  ~  ` ~ d~ f` President*~ ~ "&~ &6~    ~  ba ~ .~ hQ~ ~~ b]~ ~  JL  ~  Z ~ ~ JJ. Jeffrey Dudley~ ~ o ~ B~  ^  ~   ~ '~ ^25-Vice President, General Counsel and CorporateCompliance Officer~ ~ L~ R~  r'   ~  Q ~ ~  =~ ~~ ~ ~  RV   ~   ~ r~ *v6William O. Nicholson~ ~ K~ r~  v   ~  *  ~ :~ ;0(Senior Vice President, Customer Service,~ ~ ^~  ~  L  ~  S ~ .k~ m3#Transmission & Distribution~ ~~ bd~ 6; ~  r  ~  Z ~  ~ f.W. David Robertson~ ~ ~~ :\ ~  fi  ~   ~ ʅ~ z2%Vice President, Public Policy   D%l~rfZN^mbLN@oI0 !"#$ !$"____________________________1#)Created by Morningstar Document Research.0$(http://documentresearch.morningstar.com/ P=PF0*8X> @R $$##""     l  .  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary Compensation2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } a/} y} $ }  } $ .     )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018Beneficial Ownership     , $Name and Address of Beneficial Owner& Amount and Nature of Ownership Percent of Class 5% or Greater Holders  # The Vanguard Group, Inc.(1)~ N  Gz"@ % 100 Vanguard Blvd.   Malvern, PA 19355BlackRock, Inc.(2)~ r ~ * %40 East 52nd StreetNew York, NY 10022 JP MORGAN CHASE & CO.(3)~ 7ffffff@ %270 Park AvenueNew York, NY 10017Non-Employee DirectorsJohn W. Ballantine 20,416 (4) *Rodney L. Brown, Jr. 19,740 (4) * Jack E. Davis 11,905 (4) *David A. Dietzler 20,416 (4) *Kirby A. Dyess 16,782 (4) * Mark B. Ganz 20,416 (4)(5) *Kathryn J. Jackson 8,593 (4) *Neil J. Nelson 20,016 (4)(5) * M. Lee Pelton 20,416 (4) *D l~rfZNc-cW$[TQ !"#$%&'()*+,- Charles W. Shivery  9,011 (4)  *  !Named Executive Officers!!" James J. Piro~ "Z# " "*"#James F. Lobdell~ #i# #*#$ Maria M. Pope$ 19,641 (5)$ $*$%J. Jeffrey Dudley~ %.% %*%&William O. Nicholson~ &A& &*&'W. David Robertson~ '>' '*'/('All of the company's executive officers~ (V"( (*-)%and directors as a group (23 persons)*$+____________________________1,)Created by Morningstar Document Research.0-(http://documentresearch.morningstar.com/ l }-/=PF0*8X> @2--,,++((   l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } } $      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018"2017 DIRECTOR COMPENSATION                 Name Fees Earned or  Stock Awards (2)   All Other  Total  Paid in Cash (1)      Compensation (3) John W. Ballantine~ j  ~ zs  ~   ~ .   Rodney L. Brown, Jr.~ :,  ~ zs ~   ~ z   Jack E. Davis~ ڦ~ zs~    ~  4David A. Dietzler~ :,~ zs~    ~  z Kirby A. Dyess~ ~ zs~    ~  Bi  Mark B. Ganz~ :,~ zs~    ~  z Kathryn J. Jackson~ :,~ zs~    ~  z Neil J. Nelson~ ~ zs~    ~  ڣ  M. Lee Pelton~ j~ zs~    ~  . Charles W. Shivery~ :,~ zs~    ~  z $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:n xl`THx.^(WK?=PF0*8X> @1                           l  l  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATIONBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } U5} $      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018E=9Current Compensation Arrangements for Non-Employee Directors    ! Annual Cash Retainer Fees . &Annual Cash Retainer Fee for Directors~ B  / 'Additional Annual Cash Retainer Fee for~   Chairman of the Board/'Additional Annual Cash Retainer Fee for~ bAudit Committee Chair/'Additional Annual Cash Retainer Fee for~ ʯ2*Compensation and Human Resources Committee Chair/'Additional Annual Cash Retainer Fee for~ 2uOther Committee Chairs4,Annual Committee Service Fee (per committee)~ B1)Value of Annual Grant of Restricted Stock~ B~ Units$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<UI=1%x+ OG=PF0*8X> @R    l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } } $ }  } $ } } $ } } $ }                                )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018Board Committees          Name  Audit  Nominating and  Compensation and  Finance    Committee   Corporate  Human Resources   Committee      Governance   Committee      CommitteeJohn W. Ballantine ? ChairRodney L. Brown, Jr. ? ? Jack E. Davis ?David A. Dietzler ? ?Kirby A. Dyess ? Chair Mark B. Ganz ? ?Kathryn J. Jackson ? ?Neil J. Nelson Chair ? M. Lee Pelton Chair ?Charles W. Shivery ? ?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/> 0vj^RLO  =PF0*8X> @ l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard Committees!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } 0.} U} I"}       )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018!EQUITY COMPENSATION PLANS      Plan Category Number of Securities to Weighted-Average Number of Securities  be Issued Upon Exercise Exercise Price of Remaining Available  of Outstanding Options,  Outstanding for Future Issuance  Warrants and Rights$ Options, Warrants and Rights  Under Equity (a) (b)Compensation Plans(Excluding Securities Reflected in Column (a)) (c)-%Equity Compensation Plans approved by~ *& N/A~ -security holders.&Equity Compensation Plans not approved N/A N/A N/Aby security holders Total~ *& N/A~ -$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>0ymaUI6fb/X9=PF0*8X> @ l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } } $      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/20180(15PRINCIPAL ACCOUNTANT FEES AND SERVICES        ~ ~   Audit Fees(1)~ e ~ .c  Audit-Related Fees(2)~   ~ 2   Tax Fees(3) ?  ? All Other Fees(4)~ :;~ Y Total~ k~ bh$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.j^RF:q=1%=PF0*8X> @z         l  '\   dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } 6} $ }  } $ }  } $ }  } $ '                                 )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018 Plan Benefits            6 .Number of Units Subject to Contingent Employee     Awards   Time Based Awards  Performance        Based AwardsName and Position Dollar Value ThresholdMaximum James J. Piro~ Ɵ ?~ &~ BI #Chief Executive Officer (1)James F. Lobdell~ Q@ ?~ ~  -%Senior Vice President, Finance, Chief'Financial Officer and Treasurer Maria M. Pope~ b| ?~ ~ ~] -%President and Chief Executive Officer~ J. Jeffrey Dudley~ 2 ?~ f~ n% 5-Vice President, General Counsel and CorporateCompliance OfficerWilliam O. Nicholson~ V ?~ ~ N5 0(Senior Vice President, Customer Service,%Transmission and DistributionW. David Robertson~ r ?~ ~ v% %Vice President, Public Policy2*All current executive officers (11 people)~ ~ J~  ~ i D lymaUI4 .k2Y0 ! " # $ % & * "All current non-employee directors~ 6 ~ /  ?  ? -!%All other employees including current~ !n(!~ !v!~ !JI!~ !B@ ! "non-executive officers#$$____________________________1%)Created by Morningstar Document Research.0&(http://documentresearch.morningstar.com/xxl}=PF0*8X> @&& %% $$ !!       l  f  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } '} <(}       )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/20182017 PEER GROUP   " Alliant Energy Corporation  IDACORP, Inc. PNM Resources, Inc. Avista Corporation% Northwest Natural Gas Company SCANA Corporation Cleco Corporation NorthWestern Corporation UIL Holdings Corporation El Paso Electric Company OGE Energy Corp. Vectren Corporation( Great Plains Energy Incorporated)!Pinnacle West Capital CorporationWestar Energy, Inc.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|wk_S/m1%=PF0*8X> @ l  G&  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } } $ }  } $ }  } $ }  } $ }  } $                       )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/20182017 PEER GROUP                Revenues (1) Net Income (2). &Market Capitalization (as of 12/31/17)) !Enterprise Value (as of 12/31/17) 75th Percentile ~ 2)  ~   ~ q  ~ b  Median~  ~  ~ M ~ g  25th Percentile~ 2 ~ * ~ 2 ~ nT  PGE~ ~ "~ E ~  h PGE Percentile Rank~ ~ ~  ~   $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.wk_Sgjl`T,=PF0*8X> @              l  ?5  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } } $ } I} $ } I} $ } U} $                        )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/20182017 Base Salaries           2016 Salary (1) 2017 Salary (2) Annual Increase  James J. Piro ~ 0  ~ z52 ~  % James F. Lobdell~  ~ rg ~  %  Maria M. Pope~ Bw ~  ~  %J. Jeffrey Dudley~ B~ B~  %William O. Nicholson~ ~ "~  %W. David Robertson~ b~ N~  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0uth\P4Y=PF0*8X> @        l  C  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } } $ } I} $ } } $ } a/      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018+#362017 ANNUAL CASH INCENTIVE AWARDS         3 +Target Awards (Award at Target Performance)$ Award at Maximum Performance/ 'Target Award as Multiple of Base Salary  James J. Piro ~ (1  ~ I  95% James F. Lobdell~ h ~ Ҝ  55%  Maria M. Pope~  ~ N  55%J. Jeffrey Dudley*~  ~ O 50%William O. Nicholson~  ~ R 50%W. David Robertson~ ~ G  40%$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0tocWK?AnN=PF0*8X> @z       l  Q  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } $} $ }  } $} $ }  } $} $ }  } $                     )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018G?FINANCIAL PERFORMANCE TARGETS AND ASSOCIATED PAYOUT PERCENTAGES             Threshold Target  Maximum Percentage of Target~ V %~  %~  % Earnings Per Share  (\?   @   Q@  Performance Percentage~  %~  %~ Z %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*LhSG;/#YL=PF0*8X> @b             l  'eb:d  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } $}  } $}  } $}  } $} $ '     )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018IA37OPERATING PERFORMANCE TARGETS AND ASSOCIATED PAYOUT PERCENTAGES          CUSTOMER SATISFACTION        Threshold Target Maximum Performance Percentage~  %~  %~ Z %Performance TargetsfffffC@ % F@ %YK@ %0(Customer satisfaction is measured by the-%average of the company?s residential,6.general business and key customer satisfaction-%scores, where satisfaction is defined7/as a rating of 9 or higher on a 10-point scale.0(Scores are determined by calculating the*"weighted average of the following:6.? Average of 4 quarterly ratings of the Market3+Strategies Study for Residential Customers.0(? Average of 2 semiannual ratings of the7/Market Strategies Study for Business Customers.6.? Annual rating results from the TQS Research,/'Inc. 2017 Annual Benchmark of Large Key Accounts.0(These ratings are weighted by the annualDlQE9-!X^$Vv<  !"#$%&6 .revenue from each customer group that produces!the annual rating."#$$____________________________1%)Created by Morningstar Document Research.0&(http://documentresearch.morningstar.com/xh=PF0*8X> @&&%%$$!!      l  "urv  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } $}  } $}  } $ }  } $ "     )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018IA37OPERATING PERFORMANCE TARGETS AND ASSOCIATED PAYOUT PERCENTAGES        / 'ELECTRIC SERVICE POWER QUALITY & SYSTEM  RELIABILITY        Threshold Target Maximum Performance Percentage~  %100.0%150.0%Performance TargetsSAIDI (weighted 70%)~ N~ 2~ SAIFI (weighted 15%)?ffffff??MAIFI (weighted 15%)~  ??4,? SAIDI is a service reliability index equal/'to the sum of customer outage durations/'(in minutes) divided by total number ofcustomers served.7/? SAIFI is the total number of customer outages4,divided by total number of customers served.91? MAIFI is the total number of customer momentary-%interruptions divided by total number of customers.$____________________________D lQE9-!w;|--o7yA !1 )Created by Morningstar Document Research.0!(http://documentresearch.morningstar.com/=PF0*8X> @!!       l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } $}  } } I } $      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018IA37OPERATING PERFORMANCE TARGETS AND ASSOCIATED PAYOUT PERCENTAGES      POWER COST MANAGEMENT        Threshold Target Maximum  Performance Percentage 50.0% 100.0% 150.0% Performance Targets$11.0M$22.0M$33.0M0(Power Cost Management is measured by net/'variable power cost reduction, which is/'equal to wholesale power and fuel sales1)less the sum of all variable power costs,4,including wholesale (physical and financial).&power purchases, fuel costs, and other2*costs that change as power output changes.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<QE9-!6r6g/=PF0*8X> @Z   l  i  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } 1}  } $}  } $} $ }  } $} $ } } $} } $                             )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/20181)ANNUAL CASH INCENTIVE PERFORMANCE RESULTS             % Annual Cash Incentive Metrics Actual  Threshold Target Max  Performance % Financial Goal      EPS* RQ@ (\?  @   Q@  yZ@ % Operating Goals     %Generation Plant Availability(\•V@ %QU@ %QV@ %QV@  %~  Z  %Customer SatisfactionQ>K@ %fffffC@ % F@ %YK@  % 33333b@  %1)Electric Service Power Quality and System  Reliability SAIDI333333\@~ N~ 2~  ~    % SAIFIףp= ??ffffff?? ~  Z  % MAIFI?~  ??  fffffa@  %Power Cost Management$37.1M$11.0M$22.0M$33.0M~  Z  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:n i]QE9C#WK?=PF0*8X> @               l  m  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } U}  '} $ } I} $ }       )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018>6NAMED EXECUTIVE OFFICER ANNUAL INCENTIVE AWARD PAYOUTS        Named Executive Officer(  Financial Performance Percentage(  Operating Performance Percentage  Final Award" Final Award as % of Target  James J. Piro 105.9% 117.8% ~ 6  111.9% James F. Lobdell 105.9% 117.8%~  111.9%  Maria M. Pope 105.9% 139.3%~ [ 122.6%J. Jeffrey Dudley105.9%117.8%~ ^111.9%William O. Nicholson105.9%107.1%~ v 106.5%W. David Robertson105.9%117.8%~ fi111.9%$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0\PD8, K)=PF0*8X> @J     l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } } $ } } $ } } $ } a/      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018( 2017-2019 PERFORMANCE RSU AWARDS         Name  Award Value* "Award Value at Maximum Performance/ 'Target Award as Multiple of Base Salary  at Target Performance  James J. Piro ~ e_  ~   ffffff? James F. Lobdell~ * ~ r7  ? Maria M. Pope~ JI!~ @:?J. Jeffrey Dudley~ B~ $?William O. Nicholson~ r~ ffffff?W. David Robertson~ :\ ~ 6affffff?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2rfZNBZ-T,=PF0*8X> @      l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } $ } $} $ }  } $ } 0                           )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/20182*PERFORMANCE TARGETS AND PAYOUT PERCENTAGES             Threshold* Target Maximum   Weighting  Percentage Earned   (50% Payout)  (100% Payout) (200% Payout for TSR         150% Payout for ROE) Goals        Total Shareholder Return30 th Percentile50 th Percentile90 th Percentile 50% 0 to 100%of EEI Regulated Indexof EEI Regulated Indexof EEI Regulated IndexReturn on Equity 75% 90% 100% 50%0 to 75%of Allowed ROEof Allowed ROEof Allowed ROE/'Total Percentage of Target Award Earned 0 to 175%$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6h\PD8/R-*X=PF0*8X> @:  l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT 20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } m)}  } $}  } $}  } $} I } $ } I"} $ } }       )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018,$2015-2017 Long-Term Incentive Awards               RETURN ON EQUITY RESULTS  $ REGULATED ASSET BASE RESULTS   TSR RESULTS ~ ~~  2017* Average  $ As of 12/31/2017 (Thousands)  ~   Allowed ROE \(\#@ % 333333#@ % 333333#@ %   Target Asset Base~ BD  Target 50th Percentile Accounting ROE Q @ % (\ @ % Gz!@ %   Actual Asset Base~ ~6S  Actual 36th Percentile*"Accounting ROE as % of Allowed ROE33333SU@ %33333U@ %~ f % 87.2%$ Actual Amount as % of Target 104.5%   Payout Percentage 90.7%  150.0%    65.9%$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.nnbVJ>]mzx=PF0*8X> @R         l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive AwaSummary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } }  } $ }  } $      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/20183+2015-2017 LONG-TERM INCENTIVE AWARD PAYOUTS        RSUs Vested" Vesting Date Award Value *  James J. Piro~  ~ $f James F. Lobdell~ " ~    Maria M. Pope~  ~ f'  J. Jeffrey Dudley~ .r~  William O. Nicholson~ e~ W. David Robertson~ ^~ ެ$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0g[OC7q!/=PF0*8X> @2    l  )0  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } 6} } $ } I} $ } } $ } I} $ } I} $ } I} $ } } $ )     )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018Summary Compensation                          # Name and Principal Position Year   Salary (2)   Stock Awards . &Non-Equity Incentive Plan Compensation 1 )Change in Pension Value and Non-Qualified " All Other Compensation (6)  Totals       ~  ~  & Deferred Compensation Earnings               ~   James J. Piro~   ~ h4   ~ e_   ~ 6   ~ q   ~    ~  "Chief Executive Officer(1)~ ~ > 3~ 2\  ~  ) ~ 2>~ r ~ ~~ ~~ *1~ /U  ~   * ~ ~ Ns~ \James F. Lobdell~ ~ J~ *  ~   ~  ~ ~ 2[-%Senior Vice President, Finance, Chief'Financial Officer and Treasurer~ ~ h~ 2  ~    ~ F~ ~ N~ ~~ :~   ~  N  ~ ~ >~ ^A Maria M. Pope~ ~ . ~ JI!  ~  [ ~ `~ d~ f` President (1)~ ~ "&~ &6  ~   ~ ba~ .~ hQ~ ~~ b]~   ~  JL ~ Z~ ~ JJ. Jeffrey Dudley~ ~ o ~ B  ~  ^ ~ ~ '~ ^25-Vice President, General Counsel and CorporateCompliance Officer~ ~ L~ R  ~  r'  ~ Q~ ~  =~ ~~ ~   ~  RV  ~ ~ r~ *v6William O. Nicholson~ ~ K~ r  ~  v  ~ * ~ :~ ;0(Senior Vice President, Customer Service,#Transmission & Distribution~ ~ ^~    ~  L ~ S~ .k~ m3~ ~~ bd~ 6;   ~  r ~ Z~  ~ f.Dl~rfZNVoqsd+  !"#$%&'( W. David Robertson~  ~ ~  ~ :\   ~ fi  ~   ~ ʅ  ~ z2 %!Vice President, Public Policy"####### # ######$%$&____________________________1')Created by Morningstar Document Research.0((http://documentresearch.morningstar.com/J=PF0*8X> @:g((''&&                            l  =  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } } $ } } $      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018"SUMMARY COMPENSATION TABLE     Name* "Maximum 2017 Performance RSU Value  James J. Piro ~   James F. Lobdell~ r7   Maria M. Pope~ @: J. Jeffrey Dudley~ $William O. Nicholson~ W. David Robertson~ 6a$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0xl`THe2}qI=PF0*8X> @J     l  0)  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLEALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } } $ } <} $ } I} $      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018"SUMMARY COMPENSATION TABLE        Name  Plan  Increase or Decrease in     Actuarial Present Value  James J. Piro   Pension Plan  ~ q     2005 MDCP  ? James F. Lobdell Pension Plan~   2005 MDCP ? Maria M. Pope Pension Plan~ ` 2005 MDCP ?J. Jeffrey Dudley Pension Plan~ * 2005 MDCP~ cWilliam O. Nicholson Pension Plan~ *  2005 MDCP ?W. David Robertson Pension Plan~  2005 MDCP ?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/> 0xl`THFj^:=PF0*8X> @    l  -:  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } } $ }  } $ } I} $ }  } $ } I} $ } I} $      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018ALL OTHER COMPENSATION                 Name 2005 MDCP Contributions# Dividend Equivalent Rights* 401(k) Contributions Accrued Vacation Total  James J. Piro ~ r  ~ N   ~ "  ~ V  ~   James F. Lobdell~  ~  ~ "  ? ~    Maria M. Pope ? ~ jm ~   ? ~ d J. Jeffrey Dudley~ '~ 2~ ` ~  l ~  'William O. Nicholson~ ~ ~ "   ? ~  :W. David Robertson ?~ ~ "   ? ~  ʅ$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0g|pdXLq9=PF0*8X> @ !                   l   Z  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Outstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } }  } $ } I} $ } I} $ } } $ }  } $ }  } $ }  } $ } } $      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018Stock Option Grants                              3 +Estimated Possible Payouts Under Non-Equity - %Estimated Future Payouts Under Equity     ! Incentive Plan Awards (1) ! Incentive Plan Awards (2) Name  Grant Date   Threshold  Target  Maximum   Threshold  Target  Maximum  Grant Date Fair                 (Number of   (Number of  (Number  Value of Stock     Shares)Shares) of Shares) Awards (3) James J. Piro~ ^~ (1   ~  I  2/15/2017    ~ ~ 7~ 6~ e_James F. Lobdell~ F4~ h  ~  Ҝ  2/15/2017    ~ B^~ ~ I~ * Maria M. Pope~ rM~   ~  N  2/15/2017    ~ c~  ~ Z~ JI!J. Jeffrey Dudley~ ~    ~  O  2/15/2017    ~ J>~ |~ ~ BWilliam O. Nicholson~ r~    ~  R  2/15/2017  ~ )~ S~ ~ rW. David Robertson~ ^~   ~  G   2/15/2017  ~ '~ ~O~ ~ :\ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/Dlsg[O [}2 ~S.0/32&=PF0*8X> @R*                    l  (sv  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option Grants48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } } }  } $ } } $ }  }  $ } } $ (                                 )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018!Outstanding Equity Awards             Name  Grant Date  Number of  Market Value Equity Incentive Plan Equity Incentive   Units of Units of Stock Awards: Number of  Plan Awards:   of Stock  That Have Not Unearned Units That Market Value of    That Have Vested Have Not Vested Unearned Units Not Vested~ ~   That Have Not Vested~   James J. Piro02/15/2017 (1) ? ?~ 6 ~  6ְ 02/17/2016 (2) ? ?~ ~  ⋨ 02/18/2015 (3)~ .W~ Bj ?  ? James F. Lobdell02/15/2017 (1) ? ?~ I~  : 02/17/2016 (2) ? ?~ : ~  Q3 02/18/2015 (3)~ ʬ~ b ?  ?  Maria M. Pope02/15/2017 (1) ? ?~ Z~  R= 02/17/2016 (2) ? ?~ 4~  6 02/18/2015 (3)~ J~ ޅ! ?  ? J. Jeffrey Dudley02/15/2017 (1) ? ?~ ~  N& 02/17/2016 (2) ? ?~ ~  $ 02/18/2015 (3)~ j|~ r& ?  ? William O. Nicholson02/15/2017 (1) ? ?~ ~   02/17/2016 (2) ? ?~ ~   02/18/2015 (3)~ ]~ ʑ ?  ? DlymaUI)/X`/oJ2 } ! " # $ % & '  W. David Robertson 02/15/2017 (1) ?  ? ~  ~  !!02/17/2016 (2) !?! !?!~ !Ҁ!~ ! J! ""02/18/2015 (3)~ "U"~ " M" "?" " ?" #$$%____________________________1&)Created by Morningstar Document Research.0'(http://documentresearch.morningstar.com/bJ>2 =PF0*8X> @;'' && %% """" !!!!                               l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity AwardsPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } }  } $ } } $      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/201848Stock Units Vested        Name/ 'Number of Shares Acquired on Vesting of ! Value Realized on Vesting  Restricted Stock Units  James J. Piro~ ^    ~ *  James F. Lobdell~   ~ $  Maria M. Pope~ J ~ ,J. Jeffrey Dudley~ ~ William O. Nicholson~ Z~ W. David Robertson~ w~ &$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2R~rfZNX># =PF0*8X> @Z      l  |  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units Vested Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } } U} $ }  } $ } } $                               )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018Pension Benefits          Name  Plan Name  Number of Years  Present Value of    Credited Service  Accumulated Benefit  James J. Piro  Pension Plan  B@   ~ m   1986 MDCP and 2005 MDCP  B@   ? James F. Lobdell Pension Plan@@~ NW1986 MDCP and 2005 MDCP@@ ? Maria M. Pope Pension Plan~ &~ J 2005 MDCP~ & ?J. Jeffrey Dudley Pension Plan~ v~ 'K1986 MDCP and 2005 MDCP~ v~  William O. Nicholson Pension PlanB@~ N"\1986 MDCP and 2005 MDCPB@ ?W. David Robertson Pension Plan333333+@~ 6<1986 MDCP and 2005 MDCP333333+@ ?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/> 0vj^Rrzx} =PF0*8X> @      l  p  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } } $ } $} $ } 1} $ } $} $ } 0} $ } $} $ } 1                   )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018 Pension Plan              Monthly Benefit  = 1 )1.2% of FAE for first 30 years of service  + 0 (0.5% of FAE in excess of 35-Year Average  + 1 )0.5% of FAE for each year of service over        , $of Social Security Taxable Wage Base    30 years  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/&3@znbV=PF0*8X> @   l  ~  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } } $ }  } $ } I} $ } } $ } I} $ } } $      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018+#Non-Qualified Deferred Compensation                    Name  Plan   Executive  Company   Aggregate   Aggregate      Contributions   Contributions  Earnings  Balance     in 2017  in 2017  in 2017   at 12/31/17    ~  ~  ~  ~  James J. Piro 2005 MDCP~ ~  r   ~  jK~ j 1986 MDCP ? ?  ~  jM ~ ΒJames F. Lobdell 2005 MDCP~ t~   ~  -~ F4 1986 MDCP ? ?  ~  ~ Gb Maria M. Pope 2005 MDCP~ n ?  ~  v~ :mA 1986 MDCP ? ?    ? ?J. Jeffrey Dudley 2005 MDCP~ J ~ '  ~  ~ ^| 1986 MDCP ? ?  ~   ~ nWilliam O. Nicholson 2005 MDCP~ r~   ~  >b~  1986 MDCP ? ?  ~  @~ B@W. David Robertson 2005 MDCP~  ?  ~  Na~  1986 MDCP ? ?    ? ?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/BXocWK?[\ 6s Ho =PF0*8X> @?                                       l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } %} $ } } $ } I}  $ } I} $ } } $ } } $      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/20182*Termination and Change in Control Benefits                       James J. Piro            Benefit Plan   Retirement   Involuntary   Change in / 'Termination Following Change in Control  Death or Disability        Not for Cause  Control        Termination&Deferred Compensation Plans(1) ? ?  ~     ? ?Severance Pay Plan(2) ?~ z52   ?  ~ 2^c ?Performance RSUs(3)(4)~  ?   ?  ~ ~ &Annual Cash Incentive Award(5)~ 6 ?   ?   ?~ 6'Outplacement Assistance Plan(6) ?~ }   ?   ? ? Total~ !~ z2 ~    ~ .E~ !$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6, h\PD8 @"$            l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } %} $ } } $ } I}  $ }  } $ } I} $ } } $      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/20182*Termination and Change in Control Benefits                      James F Lobdell            Benefit Plan   Retirement   Involuntary   Change in / 'Termination Following Change in Control  Death or Disability        Not for Cause  Control        Termination&Deferred Compensation Plans(1) ? ?  ~  f   ? ?Severance Pay Plan(2) ?~ rg   ?  ~ ( ?Performance RSUs(3)(4)~ cF ?   ?  ~ jD~ cF&Annual Cash Incentive Award(5)~  ?   ?   ?~ 'Outplacement Assistance Plan(6) ?~ }   ?   ? ? Total~ ΁V~ r ~  f  ~ fl~ ΁V$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6" h\PD8{oc;=PF0*8X> @"$            l  6  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } %} $ } } $ } I}  $ } $} $ } I} $ } } $      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/20182*Termination and Change in Control Benefits                      Maria M. Pope            Benefit Plan   Retirement   Involuntary   Change in / 'Termination Following Change in Control  Death or Disability        Not for Cause  Control        Termination&Deferred Compensation Plans(1) ? ?   ?    ? ?Severance Pay Plan(2) ?~ B'   ?   ~ "G8 ?Performance RSUs(3)(4)~ K ?   ?  ~  .DI~ K&Annual Cash Incentive Award(5)~ [ ?   ?    ?~ ['Outplacement Assistance Plan(6) ?~ }   ?    ? ? Total~ #`~ B)(   ?  ~  N~ #`$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6 h\PD8HO #>YsK=PF0*8X> @            l  c  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } %} $ } I} $ }  }  $ } } $ } I} $ } I} $      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/20182*Termination and Change in Control Benefits                      J. Jeffrey Dudley            Benefit Plan   Retirement   Involuntary   Change in / 'Termination Following Change in Control  Death or Disability        Not for Cause  Control        Termination&Deferred Compensation Plans(1) ? ?  ~  :   ? ?Severance Pay Plan(2) ? ?   ?   ? ?Performance RSUs(3)(4)~ 2 ?   ?  ~ fX0~ 2&Annual Cash Incentive Award(5)~ ^ ?   ?   ?~ ^'Outplacement Assistance Plan(6) ?~ }   ?   ? ? Total~ :8~ } ~  :  ~ fX0~ :8$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6. h\PD8ocW/=PF0*8X> @"$            l  +  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } %} $ } I} $ } I}  $ }  } $ } I} $ } I} $      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/20182*Termination and Change in Control Benefits                      William O. Nicholson            Benefit Plan   Retirement   Involuntary   Change in / 'Termination Following Change in Control  Death or Disability        Not for Cause  Control        Termination&Deferred Compensation Plans(1) ? ?  ~     ? ?Severance Pay Plan(2) ?~ "   ?  ~  ?Performance RSUs(3)(4)~ Fq# ?   ?  ~ U"~ Fq#&Annual Cash Incentive Award(5)~ v  ?   ?   ?~ v 'Outplacement Assistance Plan(6) ?~ }   ?   ? ? Total~ .~ " ~    ~ n@~ .$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/63 h\PD8<<9j^R*=PF0*8X> @"$            l  @  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)Index of Defined (2)U } %} $ } I} $ } I}  $ } $} $ } I} $ } I} $      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/20182*Termination and Change in Control Benefits                     W. David Robertson            Benefit Plan   Retirement   Involuntary   Change in / 'Termination Following Change in Control  Death or Disability        Not for Cause  Control        Termination&Deferred Compensation Plans(1) ? ?   ?    ? ?Severance Pay Plan(2) ?~ N   ?   ~   ?Performance RSUs(3)(4)~ b  ?   ?  ~  r~ b &Annual Cash Incentive Award(5)~ fi ?   ?    ?~ fi'Outplacement Assistance Plan(6) ?~ }   ?    ? ? Total~ @)~ N   ?  ~  zi:~ @)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6 h\PD8HJ9TznF=PF0*8X> @            l  N  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)Index of Defined TermsIndex of Defined (1)Index of Defined (2)U } 6} *      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018kcWhat are the voting requirements to elect directors and approve the other proposals described in th   Proposal  Vote Required Election of directors+ #Votes in Favor Exceed Votes Against1 )Ratification of appointment of Deloitte &+ #Votes in Favor Exceed Votes Against  Touche LLP5-Advisory vote on approval of the compensation+#Votes in Favor Exceed Votes Against1)of the company?s named executive officers1)Approval of the Portland General Electric+#Votes in Favor Exceed Votes Against$Company Stock Incentive Plan$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0/# jS=PF0*8X> @ l  (d]v_  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined (1)Index of Defined (2)U } } m (     )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018Index of Defined Terms   Term Section   Where Defined  Affiliate(s) 4(c) Awards~ Board of Directors 4(a)Change in Control 17(b) Code 4(a) Committee 4(a) Common Stock~ Company~ !Dividend Equivalent Right 12(c) Exchange Act 4(a)Fair Market Value 8(g)Grandfathered Award 13(a)Grant Agreement 7(a)Incentive Stock Options 8(a)"Nonqualified Stock Options 8(a)Parent Corporation 8(e)Performance-Based Award~ 6 Plan~ Restricted Stock Award 10(a)!Stock Appreciation Rights 9(a)Dl|pdXL4vH(^1m? !"#$%&'  Stock Option 8(a)! Stock Unit !12(c)"Subsidiary Corporation "8(e)#$$%____________________________1&)Created by Morningstar Document Research.0'(http://documentresearch.morningstar.com/sg?=PF0*8X> @''&&%% l  k  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (2)U } $ } m)      )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018Index of Defined Terms   3 +TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK* "KEEP THIS PORTION FOR YOUR RECORDS INK AS FOLLOWS:  M31772-P05687+ #DETACH AND RETURN THIS PORTION ONLY1)THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.8|pdXL(`+ =PF0*8X> @J      l  7  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??/!Portland General Electric Compa Portland General Electric (1) Portland General Electric (2)Beneficial Ownership!PROPOSAL 1 ELECTION OF DIRECTOR!1PROPOSAL 2 RATIFICATION OF APPSummary CompensationBeneficial Owne (1)2017 DIRECTOR COMPENSATION!9Current Compensation ArrangemeBoard CommitteesEQUITY COMPENSATION PLANS!15PRINCIPAL ACCOUNTANT FEES AND Plan Benefits2017 PEER GROUP2017 PEER GROUP (1)2017 Base Salaries!362017 ANNUAL CASH INCENTIVE AW!FINANCIAL PERFORMANCE TARGETS A!37OPERATING PERFORMANCE TARGETS37OPERATING PERFORMANCE (1)37OPERATING PERFORMANCE (2)!ANNUAL CASH INCENTIVE PERFORMAN!NAMED EXECUTIVE OFFICER ANNUAL !20172019 PERFORMANCE RSU AWARDS!PERFORMANCE TARGETS AND PAYOUT !20152017 LongTerm Incentive Awa20152017 LONGTERM (1)Summary Compens (1)SUMMARY COMPENSATION TABLESUMMARY COMPENSATION (1)ALL OTHER COMPENSATION Stock Option GrantsOutstanding Equity Awards48Stock Units VestedPension Benefits Pension Plan!NonQualified Deferred Compensat!Termination and Change in Contr Termination and Change in (1) Termination and Change in (2) Termination and Change in (3) Termination and Change in (4) Termination and Change in (5)!What are the voting requirementIndex of Defined TermsIndex of Defined (1)U } $ } } } } $ } I } $ } I } } $ } =} } I } $ 7     )!PORTLAND GENERAL ELECTRIC CO /OR/DEF 14A 03/14/2018Index of Defined Terms                ) !PORTLAND GENERAL ELECTRIC COMPANY         Vote on Directors                 0 (The Board of Directors recommends a vote       $?FOR? each director nominee:~ Election of Directors     Nominees: ForAgainstAbstainVote On Proposals  For Against Abstain 1a.John W. Ballantine o o o    1b.Rodney L. Brown, Jr. o o o0(The Board of Directors recommends a vote&?FOR? the following proposals: 1c. Jack E. Davis o o o     1d.David A. Dietzler o o o~   / 'To ratify the appointment of Deloitte &  o  o  o / 'Touche LLP as the Company?s independent 1e.Kirby A. Dyess o o o- %registered public accounting firm for    1f. Mark B. Ganz o o o fiscal year 2018.    1g.Kathryn J. Jackson o o o~  ; 3To approve, by a non-binding vote, the compensation  o  o  o 1h.Neil J. Nelson o o o2 *of the Company?s named executive officers.    1i. M. Lee Pelton o o o     1j. Maria M. Pope o o o~  0 (To approve the Portland General Electric  o  o  o 1k.Charles W. Shivery o o o0 (Company Stock Incentive Plan, as amended   3+For address changes and/or comments, please o  and restated.   1)check this box and write them on the backDl|pdXL "Z'a bu !"#$%&'()*+,-./0123456  where indicated.!!"""""""""" " " " ""#2#*Please indicate if you plan to attend this #o### #o## # # # ##$$meeting. $Yes$$$ $No$$ $ $ $ $$%%%%&5&-Please sign exactly as your name(s) appear(s)'3'+hereon. When signing as attorney, executor,(1()administrator, or other fiduciary, please)4),give full title as such. Joint owners should*.*&each sign personally. All holders must+.+&sign. If a corporation or partnership,,4,,please sign in full corporate or partnership-#-name by authorized officer.....//// / /0000 0 01*1"Signature [PLEASE SIGN WITHIN BOX]1 1 Signature (Joint Owners)1  1 Date1123$4____________________________15)Created by Morningstar Document Research.06(http://documentresearch.morningstar.com/2 8SFS#=PF0*8X> @6655441111 -- ,, ++ ** )) (( '' && $$##        Root Entry FBook  (  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~