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Blue Mountain Nominates New Slate For Election To PG&E Board - Quick Facts

Blue Mountain Credit Alternatives Master Fund L.P., a fund managed by the alternative asset management firm BlueMountain Capital Management, LLC, announced it has nominated a new slate of 13 candidates for election to the Board of PG&E Corp. (PCG) at the company's Annual Meeting.

In an open letter to PG&E shareholders, BlueMountain stated: "Since BlueMountain's update on February 13, 2019, we have engaged in collaborative, good faith discussions with the company in an attempt to reach an agreement on the composition of a Board. While we hope to continue these constructive discussions and are open to considering incumbent board members, this morning we submitted our formal notice of nomination. We believe it is important that all shareholders and all Californians understand the high caliber of the candidates willing to serve on the Board and work diligently to address the challenges facing PG&E."

BlueMountain Capital Management noted that the new slate includes five experienced utility executives, including three former CEOs, a former CFO, and a former CAO and Head of Human Resources and Communications.

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