PPL Corporation

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant and Section 8 - Other Events

Item 8.01 Other Events On May 12, 2026, PPL Electric Utilities Corporation ("PPL Electric") entered into an underwriting agreement (the "Underwriting Agreement") with MUFG Securities Americas Inc., PNC Capital Markets LLC, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC, as representatives of the underwriters (the "Underwriters"), relating to the offering and sale by PPL Electric of $500,000,000 of First Mortgage Bonds, 5.75% Series due 2056 (the "Bonds"). The Bonds were issued on May 15, 2026, under PPL Electric's Indenture (the "2001 Indenture"), dated as of August 1, 2001, to The Bank of New York Mellon, as trustee, as previously amended and supplemented and as amended and supplemented by Supplemental Indenture No. 28 thereto (the "Supplemental Indenture"), dated as of May 1, 2026 (collectively, the "Indenture"). The Bonds will be secured by the lien of the Indenture, which creates a lien on substantially all of PPL Electric's distribution properties and certain of its transmission properties, subject to certain exceptions and exclusions, as described therein. The Bonds are due May 15, 2056, subject to early redemption. PPL Electric will use the net proceeds from the sale of the Bonds to repay short-term debt and for general corporate purposes. The Bonds were offered and sold under PPL Electric's Registration Statement on Form S-3 on file with the Securities and Exchange Commission (Registration No. 333-277140-03). A copy of the Underwriting Agreement is attached as Exhibit 1(a) to this report and incorporated herein by reference. The Supplemental Indenture and Officer's Certificate are filed with this report as Exhibits 4(a) and 4(b), respectively. Section 9 - Financial Statements and Exhibits