UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


July 13, 2018 (July 10, 2018)
Date of Report (Date of earliest event reported)


Commission
 
Exact name of registrant as specified in its charter;
 
IRS Employer
File Number
 
State or other jurisdiction of incorporation or organization
 
Identification No.
 
001-05152
 
PACIFICORP
 
93-0246090
 
 
(An Oregon Corporation)
 
 
 
 
825 N.E. Multnomah Street
 
 
 
 
Portland, Oregon 97232
 
 
 
 
888-221-7070
 
 
 
N/A
(Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company     o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   o





Item 8.01 Other Events

On July 13, 2018, PacifiCorp completed the sale of $600 million in aggregate principal amount of 4.125% First Mortgage Bonds due January 15, 2049 (the "bonds").

The Twenty-Ninth Supplemental Indenture to the Mortgage and Deed of Trust between PacifiCorp and The Bank of New York Mellon Trust Company, N.A., as successor Trustee, which relates to the issuance of the bonds and is dated as of July 1, 2018, is attached as an exhibit under Item 9.01.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits



2



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
PACIFICORP
 
(Registrant)
 
 
 
 
 
 
Date: July 13, 2018
/s/ Nikki L. Kobliha
 
Nikki L. Kobliha
 
Vice President, Chief Financial Officer and Treasurer
 
 


3


EXHIBIT 1.1


PACIFICORP
$600,000,000
First Mortgage Bonds
4.125% Series Due 2049

UNDERWRITING AGREEMENT

July 10, 2018

MIZUHO SECURITIES USA LLC
MUFG SECURITIES AMERICAS INC.
PNC CAPITAL MARKETS LLC
SCOTIA CAPITAL (USA) INC.
SMBC NIKKO SECURITIES AMERICA, INC.

As Representatives (the “ Representatives ”) of the several Underwriters listed
In Schedule A hereto

 
c/o Mizuho Securities USA LLC
320 Park Avenue
New York, New York 10022

c/o MUFG Securities Americas Inc.
1221 Avenue of the Americas, 6 th floor
New York, New York 10020
c/o PNC Capital Markets LLC
4720 Piedmont Row Drive, Suite 200
Charlotte, North Carolina 28210

c/o Scotia Capital (USA) Inc.
250 Vesey Street
New York, New York 10281

c/o SMBC Nikko Securities America, Inc.
277 Park Avenue
New York, New York 10172




Ladies and Gentlemen:

1. Introductory. PacifiCorp, an Oregon corporation (the “ Company ”), proposes, subject to the terms and conditions stated herein, to issue and sell to the several underwriters listed in Schedule A hereto (the “Underwriters” ) (i) U.S. $600,000,000 principal amount of its First Mortgage Bonds, 4.125% Series due 2049 (the “ Offered Securities ”) to be issued under that certain Mortgage and Deed of Trust, dated as of January 9, 1989, with The Bank of New York Mellon Trust Company, N.A., as successor trustee (the “ Trustee ”), as heretofore amended and supplemented by the supplemental indentures thereto and as further amended and supplemented by a supplemental indenture dated as of July 1, 2018 (collectively, the “ Mortgage ”) pursuant to the registration statement on Form S-3 (File No. 333-207687) filed on October 30, 2015, as amended to date (the “ Initial Registration Statement ”). The Mortgage has been qualified under the U.S. Trust Indenture Act of 1939, as amended (the “ Trust Indenture Act ”), and the rules and regulations of the U.S. Securities and Exchange Commission (the “ Commission ”) under the Trust Indenture Act. The U.S. Securities Act of 1933, as amended, is herein referred to as the “ Securities Act ,” and the rules and regulations of the Commission thereunder are herein referred to as the “ Rules and Regulations .”

The Company hereby agrees with the several Underwriters as follows:
2. Representations and Warranties of the Company. The Company represents and warrants to, and agrees with, the several Underwriters that:

(a) The Initial Registration Statement in respect of the Offered Securities has been filed with the Commission; the Initial Registration Statement and any post-effective amendments thereto prior to the date hereof, each in the form heretofore delivered or to be delivered to the Underwriters and, excluding exhibits to the Initial Registration Statement but including all documents incorporated by reference in the prospectus contained in such Initial Registration Statement (the “ Base Prospectus ”), including any prospectus supplement relating to the Offered Securities that is filed with the Commission and deemed by virtue of Rule 430B under the Securities Act to be part of the Initial Registration Statement, was declared effective by the Commission on January 11, 2016; other than a registration statement, if any, increasing the size of the offering (a “ Rule 462(b) Registration Statement, ” together with the Initial Registration Statement, the “ Registration Statement ”), filed pursuant to Rule 462(b) under the Securities Act, which, if so filed, became effective upon filing, no other document with respect to the Initial Registration Statement or any document incorporated by reference therein has heretofore been filed or transmitted for filing with the Commission with respect to the offering contemplated by the Initial Registration Statement (other than documents filed after the filing date of the Initial Registration Statement under the U.S. Securities Exchange Act of 1934, as amended (the “ Exchange Act ”), and prospectuses filed pursuant to Rule 424(b) of the Rules and Regulations, each in the form heretofore delivered to the Underwriters); and no stop order suspending the effectiveness of the Initial Registration Statement, any post-effective amendment thereto or the Rule 462(b) Registration Statement, if any, has been issued and no proceeding for that purpose has been initiated or threatened by the Commission.

(b) A preliminary prospectus supplement relating to the Offered Securities has been prepared by the Company and a final prospectus supplement relating to the Offered Securities will be prepared by the Company in accordance with Section 5(a) hereto. Such preliminary prospectus supplement (including the documents incorporated by reference therein), together with the Base Prospectus, is hereinafter referred to as the “ Preliminary Prospectus ;” such final prospectus supplement relating to the Offered Securities to be filed with the Commission pursuant to Rule 424(b) under the Securities Act (including the documents incorporated by reference therein), together with the Base Prospectus, is hereinafter referred to as the “ Prospectus. The Preliminary Prospectus, as amended or supplemented as of the Applicable Time (as defined below), when considered together with the final term sheet filed pursuant to Section 5(a) hereof (the “ Disclosure Package ”), as of the Applicable Time, did not include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.

2



The Prospectus, as of its date and as amended or supplemented as of the Closing Date (as defined below), does not and will not include any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; and each Issuer Free Writing Prospectus (as defined in Rule 433 under the Securities Act) listed on Schedule B(ii) hereto does not conflict with the information contained in the Registration Statement, the Preliminary Prospectus or the Prospectus and each such Issuer Free Writing Prospectus, as supplemented by and taken together with the Disclosure Package as of the Applicable Time, did not include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided , the preceding two sentences do not apply to statements in or omissions from the Preliminary Prospectus, the Disclosure Package, the Prospectus or any Issuer Free Writing Prospectus based upon written information furnished to the Company by the Underwriters specifically for use therein, it being understood and agreed that the only such information is that described as such in Section 7(b) hereof. For purposes of this Agreement, the “ Applicable Time ” is 3:40 p.m., New York City Time, on the date of this Agreement.

(c) At the earliest time after the filing of the Initial Registration Statement that the Company or another offering participant made a bona fide offer (within the meaning of Rule 164(h)(2) under the Securities Act) of the Offered Securities, the Company was not an “ineligible issuer” as defined in Rule 405 under the Securities Act.

(d) The Registration Statement and the Prospectus conform, and any further amendments or supplements to the Registration Statement or the Prospectus when made will conform, in all material respects to the requirements of the Securities Act and the Rules and Regulations and the Registration Statement conforms, and any further amendments or supplements to the Registration Statement when made will conform, in all material respects to the requirements of the Trust Indenture Act, and the rules and regulations of the Commission thereunder. The Registration Statement, as of the applicable effective date, and any amendments thereto as of the Closing Date did not and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading.

(e) The Company has been duly incorporated and is validly existing as a corporation under the laws of the State of Oregon with corporate power and corporate authority (i) to own its properties and conduct its business as described in the Disclosure Package and the Prospectus and (ii) to execute and deliver, and perform its obligations under, this Agreement, the Mortgage and the Offered Securities; and the Company is duly qualified as a foreign corporation to transact business and is in good standing in each jurisdiction in which it owns or leases substantial properties or in which the conduct of its business requires such qualification, except where the failure to so qualify would not have a material adverse effect on the financial condition, business or results of operations of the Company and its subsidiaries taken as a whole (a “ Material Adverse Effect ”).

(f) The Mortgage has been duly authorized, and when duly executed and delivered by the Company, shall constitute a valid and legally binding instrument of the Company enforceable against the Company in accordance with its terms, except as limited by bankruptcy, insolvency, fraudulent conveyance, reorganization and other similar laws relating to or affecting creditors’ rights generally and general equitable principles (whether considered in a proceeding in equity or at law); and the Mortgage conforms to the description thereof in the Disclosure Package and the Prospectus.

(g) The documents incorporated by reference in the Prospectus and the Disclosure Package, at the time they were or hereafter are filed with the Commission, complied or when so filed will comply, as the case may be, in all material respects with the requirements of the Exchange Act and the rules and regulations promulgated thereunder, and, when read together with the other information in the Prospectus and the Disclosure Package, did not and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were or are made, not misleading.

3



(h) The Offered Securities have been duly authorized by the Company and, when authenticated and delivered in accordance with the Mortgage and paid for by the purchasers thereof, will constitute valid and legally binding obligations of the Company enforceable against the Company in accordance with their terms, except as limited by bankruptcy, insolvency, fraudulent conveyance, reorganization and other similar laws relating to or affecting creditors’ rights generally and general equitable principles (whether considered in a proceeding in equity or at law), and will be entitled to the benefit of the security afforded by the Mortgage; and the Offered Securities conform to the description thereof in the Disclosure Package and the Prospectus.

(i) No consent, approval, authorization or order of, or filing or registration by the Company with, any court, governmental agency or third party is required for the consummation of the transactions contemplated by this Agreement and the Mortgage in connection with the issuance and sale of the Offered Securities by the Company and the use of the proceeds of the offering of the Offered Securities as described in the Disclosure Package and the Prospectus, except such as have been obtained or made.

(j) This Agreement has been duly authorized, executed and delivered by the Company and is a valid and legally binding agreement of the Company enforceable against the Company in accordance with its terms, except as limited by bankruptcy, insolvency, fraudulent conveyance, reorganization and other similar laws relating to or affecting creditors’ rights generally and general equitable principles (whether considered in a proceeding in equity or at law) and subject to any principles of public policy limiting the right to enforce the indemnification and contribution provisions contained herein.

(k) Except as disclosed in the Disclosure Package and the Prospectus, the Company has good and sufficient title to all the material properties described as owned and good and sufficient leasehold interest in all of the properties described as leased by it (the “ Properties ”), subject to minor defects and irregularities customarily found in properties of like size and character that do not materially impair the use of the property affected thereby in the operation of the business of the Company.

(l) The Company is not (i) in violation of its Third Restated Articles of Incorporation (the “ Articles ”) or its Bylaws, as amended, (ii) in default in the performance or observance of any material obligation, covenant or condition contained in any contract, agreement or other instrument to which it is a party or by which it may be bound or (iii) in violation of any order, rule or regulation applicable to the Company of any court or any federal or state regulatory body or administrative agency or other governmental body, the effect of which, in the case of (ii) and (iii), would result in a Material Adverse Effect, and neither the execution and delivery of this Agreement, the Mortgage, or the Offered Securities, the consummation of the transactions herein or therein contemplated, the fulfillment of the terms hereof or thereof nor compliance with the terms and provisions hereof or thereof will conflict with, or result in a breach of, or constitute a default under (x) the Articles or such Bylaws, or any material contract, agreement or other instrument to which it is now a party or by which it may be bound or (y) any order, rule or regulation applicable to the Company of any court or any federal or state regulatory body or administrative agency or other governmental body having jurisdiction over the Company or over its properties, the effect of which, singly or in the aggregate, would have a Material Adverse Effect.

(m) Except as disclosed in the Disclosure Package and the Prospectus, there are no legal or governmental proceedings pending or to the Company’s knowledge threatened against the Company or its subsidiaries that, if determined adversely to the Company or any subsidiary would be reasonably likely to have, individually or in the aggregate, a Material Adverse Effect or a material adverse effect on the ability of the Company to perform its obligations under this Agreement or the Mortgage.

4




(n) The consolidated financial statements included or incorporated by reference in the Disclosure Package and the Prospectus present fairly the financial condition and operations of the Company and its consolidated subsidiaries at the respective dates or for the respective periods to which they apply; such financial statements have been prepared in each case in accordance with generally accepted accounting principles consistently applied throughout the periods involved except as otherwise indicated in the Disclosure Package and the Prospectus; and Deloitte & Touche LLP, who has examined certain audited financial statements of the Company, is an independent registered public accounting firm as required by the Securities Act and the Regulations thereunder.

(o) Except as reflected in, or contemplated by, the Disclosure Package and the Prospectus, since the respective most recent dates as of which information is given in the Disclosure Package and the Prospectus, there has not been any change in the capital stock or long-term debt of the Company (other than changes arising from transactions in the ordinary course of business), or any material adverse change in the business, affairs, business prospects, property or financial condition of the Company and its subsidiaries taken as a whole, whether or not arising in the ordinary course of business, and since such dates there has not been any material transaction entered into by the Company other than transactions contemplated by the Disclosure Package and the Prospectus, and transactions in the ordinary course of business; and the Company has no material contingent obligation that is not disclosed in the Disclosure Package and the Prospectus.

(p) The Company (i) makes and keeps books, records, and accounts, which, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company and its consolidated subsidiaries and (ii) maintains a system of internal accounting controls sufficient to provide reasonable assurances that (1) transactions are executed in accordance with management’s general or specific authorization; (2) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles or any other criteria applicable to such statements and to maintain accountability for assets; (3) access to assets is permitted only in accordance with management’s general or specific authorization; and (4) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

(q) There is and has been no failure on the part of the Company or, to the knowledge of the Company, any of the Company’s directors or executive officers in their respective capacities as such, to comply in all material respects with the provisions of the U.S. Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith.

(r) The Company (i) is in compliance with applicable U.S. federal, state and local laws and regulations relating to (A) the protection of human health and safety and the environment and (B) hazardous, toxic substances, wastes, pollutants or contaminants (“ Environmental Laws ”) and (ii) has received and is in compliance with all permits, licenses or other approvals required of it under applicable Environmental Laws to conduct its respective businesses, except where such non-compliance with Environmental Laws, or failure to receive or be in compliance with required permits, licenses or other approvals, or liability either (x) would not be reasonably likely to have a Material Adverse Effect, or (y) is set forth in or contemplated in the Disclosure Package and the Prospectus (exclusive of any supplement thereto).

(s) Neither the Company nor any of its subsidiaries nor, to the knowledge of the Company, after due inquiry, any director, officer, agent, employee or other representative authorized to act on behalf of the Company or any of its subsidiaries, has in the course of its actions for, or on behalf of, the Company (i) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) made any direct or indirect unlawful payment to any foreign or domestic government officials, “foreign office” as defined in the United States Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (collectively, the “ FCPA ”) or employee from corporate funds; (iii) violated or is in violation of any provision of the FCPA, the Bribery Act 2010 of the United Kingdom, as amended, or any other applicable anti-bribery or anti-corruption

5



law or statutes; or (iv) made any bribe, rebate, payoff, influence, payment, kickback or other unlawful payments to any domestic government official, foreign official or employee; and each of the Company and its subsidiaries has conducted its business in compliance with the FCPA, the Bribery Act 2010 of the United Kingdom, as amended, and any other applicable anti-bribery or anti-corruption laws or statutes, and has instituted and maintains policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance therewith.

(t) Neither the Company nor any of its subsidiaries nor, to the knowledge of the Company after due inquiry, any director, officer, employee or affiliate of the Company or any of its subsidiaries (i) is currently the target of any United States sanctions administered by the Office of Foreign Assets Control of the United States Treasury Department, the United States Department of State, the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authority (collectively, “ Sanctions ”); or (ii) is located, organized or resident in a country that is the subject of Sanctions (including, without limitation, Cuba, Iran, North Korea, Sudan, Syria, Venezuela and the Crimea region of Ukraine); and the Company will not directly or indirectly use the proceeds of the offering of the Offered Securities, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person, or in any country or territory, that is currently the subject or target of Sanctions or in any other manner that will result in a violation by any person (including any person participating in the transaction whether as an underwriter, advisor, investor or otherwise) of Sanctions. The Company has not knowingly engaged in for the past five years, and is not now knowingly engaged in, any dealings or transactions with any individual or entity, or in any country or territory, that at the time of the dealing or transaction is or was the subject or target of Sanctions.

(u) The operations of the Company and each of its subsidiaries are and have been conducted at all times in compliance with the applicable financial recordkeeping and reporting requirements of the United States Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all applicable jurisdictions where the Company and its subsidiaries conduct business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “ Money Laundering Laws ”) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened.

(v) The interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement fairly presents the information called for in all material respects and has been prepared in compliance with the Commission’s rules and guidelines applicable thereto.

3. Purchase, Sale and Delivery of Offered Securities. On the basis of the representations, warranties and agreements herein contained, but subject to the terms and conditions herein set forth, the Company agrees to sell to the Underwriters, and the Underwriters agree, severally and not jointly, to purchase from the Company at a purchase
price of 98.976% of the principal amount thereof plus accrued interest, if any, from July 13, 2018 to the Closing Date (as hereinafter defined), the respective principal amounts of the Offered Securities set forth opposite the names of the several Underwriters in Schedule A hereto.

The Company will deliver against payment of the purchase price for the Offered Securities to be purchased by each Underwriter hereunder and to be offered and sold by such Underwriter in the form of one or more global securities in registered form without interest coupons (the “ Global Securities ”) deposited with the Trustee as custodian for The Depository Trust Company (“ DTC ”) and registered in the name of Cede & Co., as nominee for DTC. Interests in the Global Securities will be held only in book-entry form through DTC, except in the limited circumstances described in the Disclosure Package and the Prospectus.

6



Payment for the Offered Securities shall be made by the Underwriters in Federal (same day) funds by wire transfer to an account at a bank acceptable to the Underwriters drawn to the order of the Company at 10:00 a.m., (New York time), on July 13, 2018, or at such other time not later than seven full business days thereafter as the Underwriters and the Company determine, such time being herein referred to as the “ Closing Date, ” against delivery to the Trustee as custodian for DTC of the Global Securities. The Global Securities will be made available for checking at the office of Latham & Watkins LLP, 885 Third Avenue, New York, NY 10022, at least 24 hours prior to the Closing Date.
4. Representations by Underwriters; Resale by Underwriters . Each of the Underwriters severally represents and agrees that:

(a) (i) It has only communicated or caused to be communicated (and will only communicate or cause to be communicated) an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the U.K. Financial Services and Markets Act of 2000 (the “ FSMA ”)) received by it in connection with the issue or sale of the Offered Securities in circumstances in which Section 21(1) of the FSMA does not apply to the Company; and (ii) it has complied and will comply with all applicable provisions of the FSMA with respect to anything done by it in relation to the Offered Securities in, from or otherwise involving the United Kingdom.

(b) It has not offered, sold or otherwise made available and will not offer, sell or otherwise make available any of the Offered Securities to any retail investor in the European Economic Area. For the purposes of this provision: (i) the expression “retail investor” means a person who is one (or more) of the following: (A) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, “MiFID II”); (B) a customer within the meaning of Directive 2002/92/EC, where that customer would not qualify as a professional client as defined in point (1) of Article 4(1) of MiFID II; or (C) not a qualified investor as defined in Directive 2003/71/EC; and (ii) the expression “offer” includes the communication in any form and by any means of sufficient information on the terms of the offer and the Offered Securities to be offered so as to enable an investor to decide to purchase or subscribe to the Offered Securities.

(c) Without the prior consent of the Company and the Representatives, other than one or more term sheets relating to the Offered Securities containing customary information, it has not made and will not make any offer relating to the Offered Securities that would constitute an issuer free writing prospectus or a free writing prospectus required to be filed with the Commission; and any such free writing prospectus the use of which has been consented to by the Company and the Representatives (including the final term sheet prepared and filed pursuant to Section 5(a) hereof) is listed on Schedule B hereto.

5. Certain Agreements of the Company. The Company agrees with the several Underwriters that:

(a) It will prepare the Prospectus in a form approved by you and to file such Prospectus pursuant to Rule 424(b) under the Securities Act not later than the Commission’s close of business on the second business day following the date of this Agreement; to make no further amendment or any supplement to the Registration Statement, or the Prospectus prior to the Closing Date that shall be reasonably disapproved by you promptly after reasonable notice thereof; to advise you, promptly after it receives notice thereof, of the time when any amendment to the Registration Statement has been filed or becomes effective or any amendment or supplement to the Prospectus has been filed and to furnish you with copies thereof; to prepare a final term sheet, containing solely a description of the Offered Securities, in a form approved by you and to file such term sheet pursuant to Rule 433(d) under the Securities Act within the time required by such Rule; to file promptly all other material required to be filed by the Company with the Commission pursuant to Rule 433(d) under the Securities Act; to file promptly all reports and any definitive proxy or information statements required to be filed by the Company with the Commission pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the date of the Prospectus and for so long as the delivery of a prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Securities Act) is required in connection with the offering or sale of the Offered

7



Securities; to advise you, promptly after it receives notice thereof, of the issuance by the Commission of any stop order or of any order preventing or suspending the use of any Preliminary Prospectus or other prospectus in respect of the Offered Securities, of the suspension of the qualification of the Offered Securities for offering or sale in any jurisdiction, of the initiation or threatening of any proceeding for any such purpose, or of any request by the Commission for the amending or supplementing of the Registration Statement or the Prospectus or for additional information; and, in the event of the issuance of any stop order or of any order preventing or suspending the use of any Preliminary Prospectus or other prospectus or suspending any such qualification, to promptly use its best efforts to obtain the withdrawal of such order; and in the event of any such issuance of a notice of objection, promptly to take such steps including, without limitation, amending the Registration Statement or filing a new registration statement, at its own expense, as may be necessary to permit offers and sales of the Offered Securities by the Underwriters (references herein to the Registration Statement shall include any such amendment or new registration statement).

(b) Prior to 10:00 a.m., New York City time, on the New York business day next succeeding the date of this Agreement and from time to time, to furnish the Underwriters with written and electronic copies of the Prospectus in New York City in such quantities as you may reasonably request, and, if the delivery of a prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Securities Act) is required at any time prior to the expiration of nine months after the time of issue of the Prospectus in connection with the offering or sale of the Offered Securities and if at such time any event shall have occurred as a result of which the Prospectus as then amended or supplemented would include an untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made when such Prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Securities Act) is delivered, not misleading, or, if for any other reason it shall be necessary during such same period to amend or supplement the Prospectus or to file under the Exchange Act any document incorporated by reference in the Prospectus in order to comply with the Securities Act, the Exchange Act or the Trust Indenture Act, to notify you and upon your request to file such document and to prepare and furnish without charge to each Underwriter and to any dealer in securities as many written and electronic copies as you may from time to time reasonably request of an amended Prospectus or a supplement to the Prospectus that will correct such statement or omission or effect such compliance; and in case any Underwriter is required
under the Securities Act to deliver a prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Securities Act) in connection with sales of any of the Offered Securities at any time nine months or more after the time of issue of the Prospectus, upon your request but at the expense of such Underwriter, to prepare and deliver to such Underwriter as many written and electronic copies as you may request of an amended or supplemented Prospectus complying with Section 10(a)(3) of the Securities Act.

(c) To make generally available to its securityholders as soon as practicable, but in any event not later than 16 months after the effective date of the Registration Statement (as defined in Rule 158(c) under the Securities Act), an earnings statement of the Company and its subsidiaries (which need not be audited) complying with Section 11(a) of the Securities Act and the Rules and Regulations thereunder (including, at the option of the Company, Rule 158).

(d) The Company will arrange for the qualification of the Offered Securities for sale and the determination of their eligibility for investment under the laws of such jurisdictions in the United States as the Underwriters designate and will continue such qualifications in effect so long as required for the resale of the Offered Securities by the Underwriters, provided that the Company will not be required to qualify as a foreign corporation, to file a general consent to service of process in any such jurisdiction or to take any other action that would subject the Company to service of process in any suits (other than those arising out of the offering of the Offered Securities) or to taxation in respect of doing business in any jurisdiction in which it is not otherwise subject.

8




(e) The Company will pay all expenses incident to the performance of its obligations under this Agreement and the Mortgage, for any filing fees and other expenses (including fees and disbursements of counsel) incurred in connection with qualification of the Offered Securities for sale and determination of their eligibility for investment under the laws of such jurisdictions as the Underwriters designate and the printing of memoranda relating thereto, for the fees and expenses of the Trustee and its professional advisors, for all expenses in connection with the execution, issue, authentication and initial delivery of the Offered Securities, the preparation and printing of this Agreement, the Offered Securities, the Disclosure Package and the Prospectus, any Issuer Free Writing Prospectus, and amendments and supplements thereto, and any other document relating to the issuance, offer, sale and delivery of the Offered Securities, for the cost of any advertising approved by the Company in connection with the issue of the Offered Securities, for any fees charged by investment rating agencies for the rating of the Offered Securities, for any travel expenses of the Company’s officers and employees, and any other expenses of the Company in connection with attending or hosting meetings with prospective purchasers of the Offered Securities and for expenses incurred in distributing the Disclosure Package, the Prospectus or any Issuer Free Writing Prospectus (including any amendments and supplements thereto) to the Underwriters. Except as otherwise provided in this Section 5(e) or in Section 9 of this Agreement, the Underwriters will pay all of their costs and expenses, including fees and expenses of their counsel, transfer taxes on the resale of the Offered Securities and any advertising and travel expenses incurred by them.

(f) In connection with the offering, until the earlier of (i) 180 days following the Closing Date and (ii) the date the Underwriters shall have notified the Company of the completion of the resale of the Offered Securities, neither the Company nor any of its affiliates has or will, either alone or with one or more other persons, bid for or purchase for any account in which it or any of its affiliates has a beneficial interest any Offered Securities or attempt to induce any person to purchase any Offered Securities; and neither it nor any of its affiliates will make bids or purchases for the purpose of creating actual, or apparent, active trading in, or of raising the price of, the Offered Securities.

(g) From the date hereof through and including the Closing Date, the Company will not, without the prior written consent of the Representatives, offer, sell, contract to sell, pledge or otherwise dispose of, directly or indirectly, or file with the Commission a registration statement under the Securities Act relating to, any United States dollar-denominated debt securities issued or guaranteed by the Company and having a maturity of more than one year from the date of issue.

(h) If the Company elects to rely upon Rule 462(b), the Company shall file a Rule 462(b) Registration Statement with the Commission in compliance with Rule 462(b) by 10:00 p.m., Washington, D.C. time, on the date of this Agreement, and the Company shall at the time of filing either pay to the Commission the filing fee for the Rule 462(b) Registration Statement or give irrevocable instructions for the payment of such fee pursuant to Rule 111 under the Securities Act.

(i) The Company (i) represents and agrees that, other than the final term sheet prepared and filed pursuant to Section 5(a) hereof, without the prior consent of the Representatives, it has not made and will not make any offer relating to the Offered Securities that would constitute a “free writing prospectus” as defined in Rule 405 under the Securities Act and (ii) has complied and will comply with the requirements of Rule 433 under the Securities Act applicable to any Issuer Free Writing Prospectus, including timely filing with the Commission or retention where required and legending.

6. Conditions of the Obligations of the Underwriters. The obligations of the several Underwriters to purchase and pay for the Offered Securities will be subject to the accuracy of the representations and warranties on the part of the Company herein, to the accuracy of the statements of officers of the Company made pursuant to the provisions hereof, to the performance by the Company of its obligations hereunder and to the following additional conditions precedent:


9



(a) The Prospectus as amended or supplemented in relation to the applicable Offered Securities shall have been filed with the Commission pursuant to Rule 424(b) within the applicable time period prescribed for such filing (without reliance on Rule 424(b)(8)) by the Rules and Regulations and in accordance with Section 5(a) hereof; if the Company has elected to rely upon Rule 462(b), the Rule 462(b) Registration Statement shall have become effective by 10:00 p.m., Washington, D.C. time, on the date hereof; no stop order suspending the effectiveness of the Registration Statement or any part thereof shall have been issued and no proceeding for that purpose shall have been initiated or to the knowledge of the Company threatened by the Commission; and all requests for additional information on the part of the Commission shall have been complied with.

(b) The Underwriters shall have received from Deloitte & Touche LLP a comfort letter dated the date hereof and a bring-down comfort letter dated the Closing Date, in form and content satisfactory to the Underwriters and their counsel, acting reasonably, containing statements and information of the type ordinarily included in accountants’ long-form comfort letters to underwriters with respect to the financial statements and other financial information of the Company and its subsidiaries included in the Disclosure Package and the Preliminary Prospectus; provided that the letter delivered on the Closing Date shall use a “cut-off” date no more than three business days prior to the Closing Date.

(c) Subsequent to the Applicable Time, there shall not have been (i) any change, or any development or event involving a prospective change, in the financial condition, business, properties or results of operations of the Company and its subsidiaries taken as a whole, which, in the judgment of the Representatives, is material and adverse and makes it impractical or inadvisable to proceed with completion of the offering or the sale of and payment for the Offered Securities; (ii) any downgrading in the rating of any debt securities or preferred stock of the Company by any “nationally recognized statistical rating organization” (as such term is defined in Section 3 of the Exchange Act), or any public announcement that any such organization has under surveillance or review its rating of any debt securities or preferred stock of
the Company (other than an announcement with positive implications of a possible upgrading, and no implication of a possible downgrading, of such rating); (iii) any material suspension or material limitation of trading in securities generally on the New York Stock Exchange, or any setting of minimum prices for trading on such exchange; (iv) any suspension of trading of any securities of the Company on any exchange or in the over-the-counter market; (v) any banking moratorium declared by U.S. Federal or New York authorities; (vi) any material disruption in settlements of securities or clearance services in the United States; or (vii) any attack on, or outbreak or escalation of hostilities or act of terrorism involving, the United States, any declaration of war by the United States Congress or any other substantial national or international calamity or emergency if, in the judgment of the Representatives, the effect of any such attack, outbreak, escalation, act, declaration, calamity or emergency makes it impractical or inadvisable to proceed with completion of the offering or sale of and payment for the Offered Securities.

(d) The Underwriters shall have received an opinion, dated the Closing Date, of Jeffery B. Erb, Chief Corporate Counsel and Corporate Secretary of Berkshire Hathaway Energy, as appointed counsel for the Company, substantially in the form of Exhibit A hereto.

(e) The Underwriters shall have received an opinion, dated the Closing Date, of Perkins Coie LLP, special counsel to the Company, substantially in the form of Exhibit B hereto.

(f) The Underwriters shall have received from Latham & Watkins LLP, counsel for the Underwriters, such opinion or opinions, dated the Closing Date, in form and substance satisfactory to the Underwriters, and the Company shall have furnished to such counsel such documents as they request for the purpose of enabling them to pass upon such matters. In rendering such opinion or opinions, Latham & Watkins LLP may rely as to the incorporation of the Company and all other matters governed by Oregon law upon the opinion of Perkins Coie LLP referred to above.


10



(g) The Underwriters shall have received a certificate, dated the Closing Date, of the President or any Vice President and a principal financial or accounting officer of the Company in which such officers, to the best of their knowledge after reasonable investigation, shall state that: (i) the representations and warranties of the Company in this Agreement are true and correct, or true and correct in all material respects where such representations and warranties are not qualified by materiality or Material Adverse Effect and (ii) that the Company has complied with all agreements and satisfied all conditions on its part to be performed or satisfied hereunder at or prior to the Closing Date; and (iii) that, subsequent to the date of the most recent financial statements in, or incorporated by reference in, the Preliminary Prospectus, there has been no material adverse change, nor any development or event involving a prospective material adverse change, in the financial condition, business or results of operations of the Company and its subsidiaries taken as a whole except as set forth in the Disclosure Package and the Prospectus or as described in such certificate.

The Company will (i) furnish the Underwriters with such conformed copies of such opinions, certificates, letters and documents as the Underwriters reasonably request. The Underwriters may waive compliance with any conditions to their obligations hereunder.
7. Indemnification and Contribution . (a) The Company will indemnify and hold harmless each Underwriter, its partners, members, directors and officers and each person, if any, who controls such Underwriter within the meaning of Section 15 of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which such Underwriter may become subject, under the Securities Act or the Exchange Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the Registration Statement, the Preliminary Prospectus, the Disclosure Package, the Prospectus or any Issuer Free Writing Prospectus, or any amendment or supplement to the Registration Statement, the Prospectus or any Issuer Free Writing Prospectus, or any “issuer information” filed or required to be filed pursuant to Rule 433(d) under the Securities Act, arise out of or are based upon the omission or alleged omission to state therein a material fact necessary in order to make the statements therein made, in light of the circumstances under which they were made (in the case of the Registration Statement, necessary in order to make the statements therein not misleading), not misleading, including any losses, claims, damages or
liabilities arising out of or based upon the Company’s failure to perform its obligations under Section 5(a) of this Agreement, and will reimburse each Underwriter for any legal or other expenses reasonably incurred by such Underwriter in connection with investigating or defending any such loss, claim, damage, liability or action as such expenses are incurred; provided, however, that the Company will not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement in or omission or alleged omission from any of such documents in reliance upon and in conformity with written information furnished to the Company by the Representatives on behalf of the Underwriters specifically for use therein, it being understood and agreed that the only such information consists of the information described as such in subsection (b) below; provided, further , that the foregoing indemnity with respect to any Preliminary Prospectus shall not inure to the benefit of any Underwriter, or any person controlling such Underwriter, from whom the person asserting any such losses, claims, damages or liabilities (or actions in respect thereof), in connection with clauses (i) through (iii) below, purchased Offered Securities, where it shall have been determined by a court of competent jurisdiction by final and non-appealable judgment that (i) prior to the Applicable Time the Company has notified such Underwriter that the Preliminary Prospectus, dated July 10, 2018, contains an untrue statement of material fact or omits to state therein a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, (ii) such untrue statement or omission of a material fact was corrected in an amended or supplemented Preliminary Prospectus and such corrected Preliminary Prospectus was provided to such Underwriter sufficiently in advance of the Applicable Time so that such corrected Preliminary Prospectus could have been conveyed to such person prior to the Applicable Time and (iii) such corrected Preliminary Prospectus was not conveyed to such person at or prior to the Applicable Time to such person.

11




(b) Each Underwriter will severally and not jointly indemnify and hold harmless the Company, its directors and officers and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act, against any losses, claims, damages or liabilities to which the Company may become subject, under the Securities Act or the Exchange Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the Registration Statement, the Preliminary Prospectus, the Disclosure Package, the Prospectus or any Issuer Free Writing Prospectus, or any amendment or supplement to the Registration Statement, the Prospectus or any Issuer Free Writing Prospectus or arise out of or are based upon the omission or the alleged omission to state therein a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made (in the case of the Registration Statement, necessary in order to make the statements therein not misleading), not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information furnished to the Company by the Representatives on behalf of the Underwriters specifically for use therein, and will reimburse any legal or other expenses reasonably incurred by the Company in connection with investigating or defending any such loss, claim, damage, liability or action as such expenses are incurred, it being understood and agreed that the only such information furnished by any Underwriter consists of the following information in the Preliminary Prospectus and Prospectus furnished on behalf of each Underwriter: under the caption “Underwriting,” paragraphs   3, 4 (second sentence only), 5 and 6; provided, however, that the Underwriters shall not be liable for any losses, claims, damages or liabilities arising out of or based upon the Company’s failure to perform its obligations under Section 5(a) of this Agreement.

(c) Promptly after receipt by an indemnified party under this Section of notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under subsection (a) or (b) above, notify the indemnifying party of the commencement thereof; but the omission so to notify the indemnifying party will not relieve it from any liability which it may have to any indemnified party under subsection (a) or (b) above except to the extent that it has been materially prejudiced (through forfeiture or impairment of procedural or substantive rights or defenses) by such failure; and provided further that the failure to notify the indemnifying party shall not relieve it from any liability that it may have to an indemnified party otherwise than under subsection (a) or (b) above. In case any such action is brought against any indemnified party and it notifies the indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein and, to the extent that it may wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party (who shall not, except with the consent
of the indemnified party, be counsel to the indemnifying party), and after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the indemnifying party will not be liable to such indemnified party under this Section for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation; provided, however , that the indemnified party shall have the right to employ counsel to represent the indemnified party and their respective controlling persons who may be subject to liability arising out of any claim in respect of which indemnity may be sought by the indemnified party against the indemnifying party under this Section 7 if the employment of such counsel shall have been authorized in writing by the indemnifying party in connection with the defense of such action, if in the written opinion of counsel to either the indemnifying party or the indemnified party, representation of both parties by the same counsel would be inappropriate due to actual or likely conflicts of interest between them or the indemnifying party shall have failed to employ counsel within a reasonable period of time, and in that event the fees and expenses of one firm of separate counsel (in addition to the fees and expenses of one local counsel in each applicable jurisdiction) shall be paid by the indemnifying party. No indemnifying party shall, without the prior written consent of the indemnified party (which consent shall not be unreasonably withheld), effect any settlement of any pending or threatened action in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party unless such settlement (i) includes an unconditional release of such indemnified party from all liability on any claims that are the subject matter of such action and (ii) does not include a statement as to or an admission of fault, culpability or failure to act by or on behalf of any indemnified party.
(d) If the indemnification provided for in this Section is unavailable or insufficient to hold harmless an indemnified party under subsection (a) or (b) above, then each indemnifying party shall contribute to the amount

12



paid or payable by such indemnified party as a result of the losses, claims, damages or liabilities referred to in subsection (a) or (b) above (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and the Underwriters on the other from the offering of the Offered Securities or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company on the one hand and the Underwriters on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities as well as any other relevant equitable considerations. The relative benefits received by the Company on the one hand and the Underwriters on the other shall be deemed to be in the same proportion as the total net proceeds (before deducting expenses) from the offering of the Offered Securities received by the Company bear to the total discounts and commissions received by the Underwriters with respect to the Offered Securities from the Company under this Agreement. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or the Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The amount paid by an indemnified party as a result of the losses, claims, damages or liabilities referred to in the first sentence of this subsection (d) shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any action or claim which is the subject of this subsection (d). Notwithstanding the provisions of this subsection (d), no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Offered Securities purchased by it were resold exceeds the amount of any damages which such Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Underwriters’ obligations in this subsection (d) to contribute are several in proportion to their respective purchase obligations and not joint.

(e) The obligations of the Company under this Section shall be in addition to any liability which the Company may otherwise have and shall extend, upon the same terms and conditions, to each person, if any, who controls any Underwriter within the meaning of the Securities Act or the Exchange Act; and the obligations of the Underwriters under this Section shall be in addition to any liability which the respective Underwriters may otherwise have and shall extend, upon the same terms and conditions, to each person, if any, who controls the Company within the meaning of the Securities Act or the Exchange Act.

8. Default of Underwriters. If any Underwriter or Underwriters defaults in its or their obligations to purchase the Offered Securities hereunder and the aggregate principal amount of the Offered Securities that such defaulting Underwriter or Underwriters agreed but failed to purchase does not exceed 10% of the total principal amount of the Offered Securities, the non-defaulting Underwriters may make arrangements satisfactory to the Company for the purchase of such Offered Securities by other persons, including themselves, but if no such arrangements are made by the Closing Date, the non-defaulting Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Offered Securities that such defaulting Underwriter or Underwriters agreed but failed to purchase. If any Underwriter or Underwriters so defaults and the aggregate principal amount of the Offered Securities with respect to which such default or defaults occur exceeds 10% of the total principal amount of the Offered Securities and arrangements satisfactory to the non-defaulting Underwriters and the Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of the non-defaulting Underwriters or the Company, except as provided in Section 9. As used in this Agreement, the term “Underwriter” includes any person substituted for an Underwriter under this Section. Nothing herein, including the Company’s obligations pursuant to Section 9 hereof, will relieve a defaulting Underwriter from liability for its default.

13




9. Survival of Certain Representations and Obligations. The respective indemnities, agreements, representations, warranties and other statements of the Company or its officers and of the several Underwriters set forth in or made pursuant to this Agreement will remain in full force and effect, regardless of any investigation, or statement as to the results thereof, made by or on behalf of any Underwriter, the Company or any of their respective representatives, officers or directors or any controlling person, and will survive delivery of and payment for the Offered Securities. If this Agreement is terminated pursuant to Section 8 or if for any reason the purchase of the Offered Securities by the Underwriters is not consummated other than such default by an Underwriter, the Company shall remain responsible for the expenses to be paid or reimbursed by it pursuant to Section 5 and the respective obligations of the Company and the Underwriters pursuant to Section 7 shall remain in effect. If the purchase of the Offered Securities by the Underwriters is not consummated for any reason other than solely because of the termination of this Agreement pursuant to Section 8 or the occurrence of any event specified in clause (iii), (v), (vi) or (vii) of Section 6(c), the Company will reimburse the Underwriters for all out-of-pocket expenses (including fees and disbursements of counsel) reasonably incurred by them in connection with the offering of the Offered Securities, provided that the Company shall not be obligated under this Section 9 to reimburse the Underwriters for any expenses (including any reasonable fees and disbursements of counsel) in excess of $175,000.

10. No Fiduciary Duty . The Company acknowledges and agrees that in connection with this offering or any other services the Underwriters may be deemed to be providing hereunder, notwithstanding any preexisting relationship, advisory or otherwise, between the parties or any oral representations or assurances previously or subsequently made by the Underwriters: (i) no fiduciary or agency relationship between the Company and any other person, on the one hand, and the Underwriters, on the other, exists in connection with the offering of the Offered Securities; (ii) the Underwriters are not acting as advisors, expert or otherwise, to the Company in connection with the offering of the Offered Securities and such relationship between the Company, on the one hand, and the Underwriters, on the other, is entirely and solely commercial, based on arms-length negotiations; (iii) any duties and obligations that the Underwriters may have to the Company in connection with the offering of the Offered Securities shall be limited to those duties and obligations specifically stated herein; and (iv) the Underwriters and their respective affiliates may have interests that differ from those of the Company. Any review by the Underwriters of the Company, the transactions contemplated hereby or other matters related to such transactions will be performed solely for the benefit of the Underwriters and not on behalf of the Company. The Company hereby waives any claims that the Company may have against the Underwriters with respect to any breach of fiduciary duty in connection with this offering.

11. Notices. All communications hereunder will be in writing and, if sent to the Underwriters, will be mailed, delivered or faxed and confirmed to each of (i) Mizuho Securities USA LLC, 320 Park Avenue, 12 th Floor, New York, New York 10022, Attention: Debt Capital Markets, facsimile (212) 205-7812; (ii) MUFG Securities Americas Inc., 1221 Avenue of the Americas, 6th Floor, New York, New York 10020, Attention: Capital Markets Group, facsimile: (646) 434-3455; (iii) PNC Capital Markets LLC, 300 Fifth Avenue, Pittsburgh, Pennsylvania 15222, Attention: Head of Corporate Services, facsimile: (412) 767-2760; (iv) Scotia Capital (USA) Inc., 250 Vesey Street, New York, New York 10281, Attention: Debt Capital Markets, facsimilie: (212) 225-6550; and (v) SMBC Nikko Securities America, Inc., 277 Park Avenue, New York, New York 10172, Attention: Debt Capital Markets - Transaction Management or, if sent to the Company, will be mailed, delivered or telegraphed and confirmed to it at PacifiCorp, 825 NE Multnomah, Suite 2000, Portland, OR 97232, Attention: Legal Department; provided, however, that any notice to a particular Underwriter pursuant to Section 7 will be mailed, delivered or faxed and confirmed to such Underwriter.

12. Successors. This Agreement will inure to the benefit of and be binding upon the parties hereto and their respective successors and the controlling persons referred to in Section 7, and no other person will have any right or obligation hereunder. This Agreement and the rights and obligations hereunder shall not be assignable by the Company without the prior written consent of the Representatives (which consent shall not be unreasonably withheld). This Agreement may not be modified or amended except by an instrument in writing signed by the Company and the Representatives.

13. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same Agreement.

14




14. Applicable Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of laws.

The Company hereby submits to the exclusive jurisdiction of the Federal and state courts in the Borough of Manhattan in The City of New York in any suit or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby.

15. Waiver of Jury. TO THE FULLEST EXTENT PERMITTED BY LAW, EACH OF THE PARTIES HERETO WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT. EACH PARTY FURTHER WAIVES ANY RIGHT TO CONSOLIDATE ANY ACTION IN WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED.

[ Signatures follow ]


15






If the foregoing is in accordance with the Underwriters’ understanding of our agreement, kindly sign and return to us one of the counterparts hereof, whereupon it will become a binding agreement between the Company and the several Underwriters in accordance with its terms.

Very truly yours,

PacifiCorp
By:
/s/ Nikki L. Kobliha
Name:
Nikki L. Kobliha
Title:
Vice President, Chief Financial Officer and Treasurer


(Underwriting Agreement)




The foregoing Underwriting Agreement
is hereby confirmed and accepted
as of the date first above written.

Mizuho Securities USA LLC
By:
/s/ James Shepard
Name:
James Shepard
Title:
Managing Director - IGDCM

MUFG Securities Americas Inc.
By:
/s/ Richard Testa
Name:
Richard Testa
Title:
Managing Director

PNC Capital Markets LLC
By:
/s/ Robert W. Thomas
Name:
Robert W. Thomas
Title:
Managing Director

Scotia Capital (USA) Inc.
By:
/s/ Paul McKeown
Name:
Paul McKeown
Title:
Managing Director & Head

SMBC Nikko Securities Americas, Inc.
By:
/s/ Yoshihiro Satake
Name:
Yoshihiro Satake
Title:
Managing Director

On behalf of themselves and as Representatives of the several Underwriters









(Underwriting Agreement)




SCHEDULE A



Underwriter
Principal Amount of
Bonds
MIZUHO SECURITIES USA LLC
$87,000,000
MUFG SECURITIES AMERICAS INC.
$87,000,000
PNC CAPITAL MARKETS LLC
$87,000,000
SCOTIA CAPITAL (USA) INC.
$87,000,000
SMBC NIKKO SECURITIES AMERICA, INC.
$87,000,000
BMO CAPITAL MARKETS CORP.
$51,000,000
CIBC WORLD MARKETS CORP.
$51,000,000
BNY MELLON CAPITAL MARKETS, LLC
$12,600,000
NABSECURITIES, LLC
$12,600,000
SANTANDER INVESTMENT SECURITIES INC.
$12,600,000
SUNTRUST ROBINSON HUMPHREY, INC.
$12,600,000
TD SECURITIES (USA) LLC
$12,600,000
Total........................................................................................................
$600,000,000






        
SCHEDULE B(i)

Issuer Free Writing Prospectuses

See Schedule B(ii)





SCHEDULE B(ii)
Filed pursuant to Rule 433(d)
Registration No. 333-207687
Dated July 10, 2018


FINAL TERM SHEET
Issuer:
PacifiCorp

Security Type:
First Mortgage Bonds due 2049 (the “ Offered Securities ”)
    
Legal Format:
SEC Registered

Principal Amount:
$600,000,000

Coupon:
4.125 %
    
Interest Payment Dates:
Semi-annually on January 15 and July 15, commencing on January 15, 2019

Trade Date:
July 10 , 2018

Settlement Date:
July 13 , 2018 (T+3)*

Maturity:
January 15 , 2049

Treasury Benchmark:
3.000 % due February 15, 2048

US Treasury Spot:
100-20

US Treasury Yield:
2.968 %

Spread to Treasury:
+117 basis points

Re-offer Yield:
4.138 %

Price to Public (Issue Price):
99.776 % of principal amount

Optional Redemption:
Prior to July 15, 2048, Make Whole Call at T+20 basis points. On or after July 15, 2048, 100% of the principal amount plus accrued and unpaid interest

Denominations:
$2,000 and any integral multiples of $1,000 in excess thereof

Joint Book-Running Managers:     Mizuho Securities USA LLC, MUFG Securities Americas Inc., PNC Capital
Markets LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc.,
    BMO Capital Markets Corp., CIBC World Markets Corp.

    
Co-Managers:     BNY Mellon Capital Markets, LLC, nabSecurities, LLC, Santander Investment Securities
Inc., SunTrust Robinson Humphrey, Inc., TD Securities (USA) LLC

    
CUSIP / ISIN:
695114 CT3 / US695114CT39





*It is expected that delivery of the Offered Securities will be made to investors on or about July 13, 2018, which will be the third business day following the date of this pricing term sheet (such settlement being referred to as
“T+3”). Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market are required to settle in two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade notes on the date of pricing will be required, by virtue of the fact that the notes will initially settle in T+3, to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of notes who wish to trade notes on the date of pricing should consult their own advisors.

The issuer has filed a registration statement (including a prospectus) with the U.S. Securities and Exchange Commission (SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov . Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Mizuho Securities USA LLC at 1-866-271-7403, MUFG Securities Americas Inc. at 1-877-649-6848, PNC Capital Markets LLC at 1-855-881-0697, Scotia Capital (USA) Inc. at 1-800-372-3930 or SMBC Nikko Securities America, Inc. at 1-888-868-6856.






EXHIBIT A

Form of Opinion of Jeffery B. Erb, Chief Corporate Counsel and Corporate Secretary of Berkshire Hathaway Energy, as appointed counsel for the Company

1.      To my knowledge and except for the matters disclosed in the Disclosure Package, there is no legal or governmental action, suit or proceeding before any court, governmental agency, body or authority, domestic or foreign, now pending or threatened against or involving the Company or any subsidiary of the Company that, if determined adversely to the Company and its subsidiaries, taken as a whole, is reasonably likely to have, individually or in the aggregate, a material adverse effect on the business, affairs, property or financial condition of the Company and its subsidiaries taken as a whole or a material adverse effect on the ability of the Company to perform its obligations under the Underwriting Agreement, the Mortgage or the Bonds.
2.      The execution, delivery and performance of the Underwriting Agreement and the Mortgage and the issuance and sale of the Bonds and the use of proceeds of the Bonds as designated in the Prospectus do not and will not (A) conflict with the Articles of Incorporation or By-laws of the Company, (B) to my knowledge, conflict with, result in the creation or imposition of any lien, charge or other encumbrance, other than the Mortgage, upon any asset of the Company pursuant to the terms of, or constitute a breach of, or default under, any agreement, indenture or other instrument to which the Company is a party, or by which the Company is bound or to which any of its properties are subject or (C) to my knowledge, result in a violation of any statute, rule or regulation, or any order, judgment or decree known to me of any court or governmental agency, body or authority having jurisdiction over the Company or any of its properties, where any such conflict, encumbrance, breach, default or violation under clause (B) or (C) is reasonably likely to have, individually or in the aggregate, a material adverse effect on the business, affairs, property or financial condition of the Company and its subsidiaries taken as a whole.
3.      To my knowledge, except for such consents, approvals, authorizations, registrations or qualifications as may be required under the Securities Act, the Trust Indenture Act or state securities or blue sky laws or as may be required by applicable state public utility commissions and under the Federal Power Act, no consent, authorization or order of, or filing or registration by the Company with, any court, governmental agency or third party is required in connection with the execution, delivery and performance by the Company of the Underwriting Agreement and the Mortgage, the consummation of the transactions contemplated herein and therein, and the issuance, distribution and sale of the Bonds as contemplated therein, in each case where the effect of the failure to obtain such approval, authorization, consent or order, or make such filing, is material to the Company.
4.      The Company has good and sufficient title to the Properties subject to the Mortgage, which include substantially all of the permanent physical properties of the Company (other than those expressly excepted), subject only to Excepted Encumbrances and defects and irregularities customarily found in properties of like size and character that, in my opinion, do not materially impair the use of the property affected thereby in the operation of the business of the Company; the descriptions in the Mortgage of such of the Properties as are described therein are adequate for the Mortgage to constitute a lien thereon; the Mortgage constitutes a valid lien in favor of the Trustee for the benefit of the holders of the bonds issued pursuant to the Mortgage and, to the best of my knowledge, there is no lien on such Properties prior or equal to the lien of the Mortgage, other than the exceptions enumerated above in this paragraph 4.





EXHIBIT B

Form of Opinion of Perkins Coie LLP, special counsel to the Company

1.      The Company is a corporation validly existing under the laws of Oregon, with the corporate power and authority to own its properties and conduct its business as described in the Preliminary Prospectus, as supplemented by the Free Writing Prospectus, attached as Schedule B(ii) to the Underwriting Agreement, and the Prospectus.
2.      Based solely on the certificates attached as Schedule B, the Company is qualified to transact business as a foreign corporation in Arizona, California, Colorado, Idaho, Montana, New Mexico, Utah, Washington and Wyoming.
3.      The Company has the corporate power and authority to enter into the Underwriting Agreement and the Supplemental Indenture, to issue the Bonds and to consummate the transactions contemplated by the Underwriting Agreement.
4.      Each of the Underwriting Agreement and the Mortgage has been duly authorized, executed and delivered by the Company.
5.      The Mortgage constitutes the valid and binding obligation of the Company, enforceable against the Company in accordance with its terms.
6.      The Mortgage has been duly qualified under the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”).
7.      The Bonds are in the form contemplated by the Mortgage, have been duly authorized by the Company for issuance and sale pursuant to the Underwriting Agreement and the Mortgage, have been duly executed and, when authenticated by the Trustee in the manner provided in the Mortgage and delivered against payment of the purchase price therefore pursuant to the Underwriting Agreement, will constitute valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, and entitled to the benefits of the Mortgage.
8.      The statements in the Preliminary Prospectus and the Prospectus under the captions “Description of the Bonds” and “Description of Additional Bonds” insofar as they purport to summarize the provisions of the Mortgage and the Bonds, fairly summarize such provisions in all material respects. The statements in the Preliminary Prospectus and the Prospectus under the caption “Certain U.S. Federal Income Tax Considerations,” insofar as such statements purport to constitute summaries of United States federal income tax law and regulations or legal conclusions with respect thereto, fairly summarize the matters described therein in all material respects.
9.      No approval, authorization, consent or order of, or filing with any governmental authority is required in connection with the issuance and sale of the Bonds by the Company, the consummation by the Company of the transactions contemplated by the Underwriting Agreement, the due authorization, execution or delivery of the Underwriting Agreement or the due execution, delivery or performance of the Mortgage by the Company, in each case where the effect of the failure to obtain such approval, authorization, consent or order, or to make such filing, could reasonably be expected to have a Material Adverse Effect and except (a) as may be required under federal or state “blue sky” securities laws and regulations and (b) such as have been obtained or made.





10.      The Idaho Public Utilities Commission and the Public Utility Commission of Oregon have entered appropriate orders, which to our knowledge remain in full force and effect on the date of this letter, each authorizing the issuance of the Bonds by the Company; the Company has filed a notice with the Washington Utilities and Transportation Commission regarding the issuance and sale of the Bonds that complies with the filing requirements of RCW 80.08.040 and WAC 480-100-242; the Company has filed a notice of proposed securities issuance with the Idaho Public Utilities Commission regarding the issuance and sale of the Bonds pursuant to Order No. 33083; and, together with certain exemptive orders that have been issued by each of the Public Utilities Commission of the State of California, the Public Service Commission of Utah and the Public Service Commission of Wyoming (which to our knowledge remain in full force and effect on the date of this letter), such orders and notices constitute the only approval, authorization, consent or other order of, or notification to, any governmental body legally required in connection with the regulation of the Company as a public utility for the authorization of the issuance of the Bonds by the Company pursuant to the terms of the Underwriting Agreement.
11.      The Registration Statement was declared effective by the Securities and Exchange Commission (“the Commission”) on January 11, 2016; the Prospectus was filed with the Commission pursuant to Rule 424(b) on July 10, 2018 in a manner and within the time period required by Rule 424(b) under the Securities Act; and, based solely on the contents of the Commission’s stop orders webpage located at www.sec.gov/litigation/stoporders.shtml, as of the date hereof, no stop order suspending the effectiveness of the Registration Statement has been issued under the Securities Act and, to our knowledge, no proceedings for that purpose have been initiated by the Commission.
12.      Without independent verification of the factual accuracy, completeness or fairness of any statements made in the Registration Statement, Preliminary Prospectus and the Prospectus, the Registration Statement, as of its effective date, and the Preliminary Prospectus, as of its date, including in each case the information deemed to be a part thereof pursuant to Rule 430B under the Securities Act, and the Prospectus, as of its date, appear on their face to be appropriately responsive in all material respects with the applicable requirements of the Securities Act and the rules thereunder; it being understood, however, that we express no view with respect to the financial statements, schedules, other financial data, or exhibits included or incorporated by reference in, or omitted from, the Registration Statements, the Preliminary Prospectus or the Prospectus.
13.     The Company is not, and, immediately after giving effect to the issuance and sale of the Bonds in accordance with the Underwriting Agreement and to the application of the net proceeds received by the Company from the offering and sale of the Bonds as described in the Preliminary Prospectus and the Prospectus, will not, be required to register as an “investment company” within the meaning of the Investment Company Act.





EXHIBIT 4.1






PACIFICORP
(An Oregon Corporation)


TO


THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

(as successor to The Bank of New York Mellon)


As Trustee under PacifiCorp’s
Mortgage and Deed of Trust,
Dated as of January 9, 1989



_____________________




Twenty-Ninth Supplemental Indenture
Dated as of July 1, 2018


Supplemental to PacifiCorp’s Mortgage and Deed of Trust
Dated as of January 9, 1989



_____________________


This Instrument Grants a Security Interest by a Transmitting Utility


This Instrument Contains After‑Acquired Property Provisions





TWENTY-NINTH SUPPLEMENTAL INDENTURE

THIS INDENTURE, dated as of the 1st day of July, 2018, made and entered into by and between PACIFICORP, a corporation of the State of Oregon, whose address is 825 NE Multnomah, Portland, Oregon 97232 (hereinafter sometimes called the “Company”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. (as successor to The Bank of New York Mellon), a national banking association whose address is 400 South Hope Street, Suite 400, Los Angeles, California 90071 (the “Trustee”), as Trustee under the Mortgage and Deed of Trust, dated as of January 9, 1989, as heretofore amended and supplemented (hereinafter called the “Mortgage”), is executed and delivered by the Company in accordance with the provisions of the Mortgage, this indenture (hereinafter called the “Twenty-Ninth Supplemental Indenture”) being supplemental thereto.
W HEREAS , the Mortgage was or is to be recorded in the official records of the States of Arizona, California, Colorado, Idaho, Montana, New Mexico, Oregon, Utah, Washington and Wyoming and various counties within such states, which counties include or will include all counties in which this Twenty-Ninth Supplemental Indenture is to be recorded; and
W HEREAS , by the Mortgage the Company covenanted that it would execute and deliver such supplemental indenture or indentures and such further instruments and do such further acts as might be necessary or proper to carry out more effectually the purposes of the Mortgage and to make subject to the Lien of the Mortgage any property thereafter acquired, made or constructed and intended to be subject to the Lien thereof; and
W HEREAS , in addition to the property described in the Mortgage, the Company has acquired certain other property, rights and interests in property; and
W HEREAS , the Company has executed, delivered, recorded and filed supplemental indentures as follows:

  
  
Dated as of
  
  
  


  
First
  
March 31, 1989
  
Second
  
December 29, 1989
  
Third
  
March 31, 1991
  
Fourth
  
December 31, 1991
  
Fifth
  
March 15, 1992
  
Sixth
  
July 31, 1992
  
Seventh
  
March 15, 1993
  
Eighth
  
November 1, 1993
  
Ninth
  
June 1, 1994
  
Tenth
  
August 1, 1994
  
Eleventh
  
December 1, 1995
  
Twelfth
  
September 1, 1996
  
Thirteenth
  
November 1, 1998
  
Fourteenth
  
November 15, 2001
  
Fifteenth
  
June 1, 2003
  
Sixteenth
  
September 1, 2003
  
Seventeenth
  
August 1, 2004
  
Eighteenth
 
June 1, 2005
 
Nineteenth
 
August 1, 2006
 
Twentieth
 
March 1, 2007
 
Twenty-First
 
October 1, 2007
 
Twenty-Second
 
July 1, 2008
 
Twenty-Third
 
January 1, 2009
 
Twenty-Fourth
 
May 1, 2011
 
Twenty-Fifth
 
January 1, 2012
 
Twenty-Sixth
 
June 1, 2013
 
Twenty-Seventh
 
March 1, 2014
 
Twenty-Eighth
 
June 1, 2015
 

2




and
W HEREAS , the Company has heretofore issued, in accordance with the provisions of the Mortgage, bonds entitled and designated First Mortgage and Collateral Trust Bonds or First Mortgage Bonds, as the case may be, of the series and in the principal amounts as follows:
 
 
Series
 
Due
Date
 
Aggregate Principal
Amount Issued
  
Aggregate Principal
Amount Outstanding 1
 
First
  
10.45% Series due January 9, 1990
  
1/9/90
  
$
500,000

  
$
0

Second
  
Secured Medium-Term Notes, Series A
  
various
  
  
250,000,000

  
  
 0

Third
  
Secured Medium-Term Notes, Series B
  
various
  
  
200,000,000

  
  
0

Fourth
  
Secured Medium-Term Notes, Series C
  
various
  
  
300,000,000

  
  
 29,000,000

Fifth
  
Secured Medium-Term Notes, Series D
  
various
  
  
250,000,000

  
  
0

Sixth
  
C-U Series
  
various
  
  
250,432,000

  
  
0

Seventh
  
Secured Medium-Term Notes, Series E
  
various
  
  
500,000,000

  
  
 155,000,000

Eighth
  
6 3/4% Series due April 1, 2005
  
4/1/2005
  
  
150,000,000

  
  
0

Ninth
  
Secured Medium-Term Notes, Series F
  
various
  
  
500,000,000

  
  
 140,000,000

Tenth
  
E-L Series
  
various
  
  
71,200,000

  
  
 0

Eleventh
  
Secured Medium-Term Notes, Series G
  
various
  
  
500,000,000

  
  
 100,000,000

Twelfth
  
Series 1994-1 Bonds
  
various
  
  
216,470,000

  
  
166,450,000

Thirteenth
  
Adjustable Rate Replacement Series
  
2002
  
  
13,234,000

  
  
0

Fourteenth
  
9 3/8% Replacement Series due 1997
  
1997
  
  
50,000,000

  
  
0

Fifteenth
  
Bond Credit Series Bonds
  
various
  
  
498,589,753

  
  
0

Sixteenth
  
Secured Medium-Term Notes, Series H
  
various
  
  
500,000,000

  
  
0

Seventeenth
  
5.65% Series due 2006
  
11/1/06
  
  
200,000,000

  
  
0

Eighteenth
  
6.90% Series due November 15, 2011
  
11/15/11
  
  
500,000,000

  
  
0

Nineteenth
  
7.70% Series due November 15, 2031
  
11/15/31
  
  
300,000,000

  
  
 300,000,000

Twentieth
  
Collateral Bonds, First 2003 Series
  
12/1/14
  
  
15,000,000

  
  
0

Twenty-First
  
Collateral Bonds, Second 2003 Series
  
12/1/16
  
  
8,500,000

  
  
0

Twenty-Second
  
Collateral Bonds, Third 2003 Series
  
1/1/14
  
  
17,000,000

  
  
0

Twenty-Third
  
Collateral Bonds, Fourth 2003 Series
  
1/1/16
  
  
45,000,000

  
  
0

Twenty-Fourth
  
Collateral Bonds, Fifth 2003 Series
  
11/1/25
  
  
5,300,000

  
  
 5,300,000

Twenty-Fifth
  
Collateral Bonds, Sixth 2003 Series
  
11/1/25
  
  
22,000,000

  
  
 22,000,000

Twenty-Sixth
  
4.30% Series due 2008
  
9/15/08
  
  
200,000,000

  
  
0

Twenty-Seventh
  
5.45% Series due 2013
  
9/15/13
  
  
200,000,000

  
  
 0

Twenty-Eighth
  
4.95% Series due 2014
  
8/15/14
  
  
200,000,000

  
  
 0

Twenty-Ninth
  
5.90% Series due 2034
  
8/15/34
  
  
200,000,000

  
  
 200,000,000

Thirtieth
 
5.25% Series due 2035
 
6/15/35
 
 
300,000,000

 
 
 300,000,000

Thirty-First
 
6.10% Series due 2036
 
8/1/36
 
 
350,000,000

 
 
 350,000,000

Thirty-Second
 
5.75% Series due 2037
 
4/1/37
 
 
600,000,000

 
 
 600,000,000

Thirty-Third
 
6.25% Series due 2037
 
10/15/37
 
 
600,000,000

 
 
 600,000,000

Thirty-Fourth
 
5.65% Series due 2018
 
7/15/18
 
 
500,000,000

 
 
 500,000,000

Thirty-Fifth
 
6.35% Series due 2038
 
7/15/38
 
 
300,000,000

 
 
 300,000,000

Thirty-Sixth
 
5.50% Series due 2019
 
1/15/19
 
 
350,000,000

 
 
 350,000,000

Thirty-Seventh
 
6.00% Series due 2039
 
1/15/39
 
 
650,000,000

 
 
 650,000,000

Thirty-Eighth
 
3.85% Series due 2021
 
6/15/21
 
 
400,000,000

 
 
 400,000,000

Thirty-Ninth
 
2.95% Series due 2022
 
2/1/22
 
 
450,000,000

 
 
450,000,000

Fortieth
 
4.10% Series due 2042
 
2/1/42
 
 
300,000,000

 
 
300,000,000

Forty-First
 
2.95% Series due 2023
 
6/1/23
 
 
300,000,000

 
 
300,000,000

Forty-Second
 
3.60% Series due 2024
 
4/1/24
 
 
425,000,000

 
 
425,000,000

Forty-Third
 
3.35% Series due 2025
 
7/1/25
 
 
250,000,000

 
 
250,000,000

________________________________
1 Amount outstanding as of June 1, 2018.

3






and
W HEREAS , Section 2.03 of the Mortgage provides that the form or forms, terms and conditions of and other matters not inconsistent with the provisions of the Mortgage, in connection with each series of bonds (other than the First Series) issued thereunder, shall be established in or pursuant to one or more Resolutions and/or shall be established in one or more indentures supplemental to the Mortgage, prior to the initial issuance of bonds of such series; and
W HEREAS , Section 22.04 of the Mortgage provides, among other things, that any power, privilege or right expressly or impliedly reserved to or in any way conferred upon the Company by any provision of the Mortgage, whether such power, privilege or right is in any way restricted or is unrestricted, may be in whole or in part waived or surrendered or subjected to any restriction if at the time unrestricted or to additional restriction if already restricted, and the Company may enter into any further covenants, limitations, restrictions or provisions for the benefit of any one or more series of bonds issued thereunder and provide that a breach thereof shall be equivalent to a Default under the Mortgage, or the Company may cure any ambiguity contained therein, or in any supplemental indenture, or may (in lieu of establishment in or pursuant to a Resolution in accordance with Section 2.03 of the Mortgage) establish the forms, terms and provisions of any series of bonds other than said First Series, by an instrument in writing executed by the Company; and
W HEREAS , the Company now desires to create a new series of bonds and (pursuant to the provisions of Section 22.04 of the Mortgage) to add to its covenants and agreements contained in the Mortgage certain other covenants and agreements to be observed by it; and

W HEREAS , the execution and delivery by the Company of this Twenty-Ninth Supplemental Indenture, and the terms of the bonds of the Forty-Fourth Series herein referred to, have been duly authorized by the Board of Directors in or pursuant to appropriate Resolutions;
Now, Therefore, This Indenture Witnesseth:
That PACIFICORP, an Oregon corporation, in consideration of the premises and of good and valuable consideration to it duly paid by the Trustee at or before the ensealing and delivery of these presents, the receipt and sufficiency whereof is hereby acknowledged, and in order to secure the payment of both the principal of and interest and premium, if any, on the bonds from time to time issued under the Mortgage, according to their tenor and effect and the performance of all provisions of the Mortgage (including any instruments supplemental thereto and any modification made as in the Mortgage provided) and of such bonds, and to confirm the Lien of the Mortgage on certain after-acquired property, hereby mortgages, pledges and grants a security interest in (subject, however, to Excepted Encumbrances as defined in Section 1.06 of the Mortgage), unto The Bank of New York Mellon Trust Company, N.A. (as successor to The Bank of New York Mellon), as Trustee, and to its successor or successors in said trust, and to said Trustee and its successors and assigns forever, all properties of the Company real, personal and mixed, owned by the Company as of the date of the Mortgage and acquired by the Company after the date of the Mortgage, subject to the provisions of Section 18.03 of the Mortgage, of any kind or nature (except any herein or in the Mortgage expressly excepted), now owned or, subject to the provisions of Section 18.03 of the Mortgage, hereafter acquired by the Company (by purchase, consolidation, merger, donation, construction, erection or in any other way) and wheresoever situated (except such of such properties as are excluded by name or nature from the Lien hereof), including the properties described in Article IV hereof, and further including (without limitation) all real estate, lands, easements, servitudes, licenses, permits, franchises, privileges, rights of way and other rights in or relating to real estate or the occupancy of the same; all power sites, flowage rights, water rights, water locations, water appropriations, ditches, flumes, reservoirs, reservoir sites, canals, raceways, waterways, dams, dam sites, aqueducts, and all other rights or means for appropriating, conveying, storing and supplying water; all rights of way and roads; all plants for the generation of electricity and other forms of energy (whether now known or hereafter developed) by steam, water, sunlight, chemical processes and/or (without limitation) all other sources of power (whether now known or hereafter developed); all power houses, gas plants, street lighting systems, standards and other equipment incidental thereto; all telephone, radio, television and other communications, image and data transmission systems, air-conditioning systems and equipment incidental thereto, water wheels, water works, water systems, steam and hot water plants, substations, lines, service and supply systems, bridges, culverts, tracks, ice or refrigeration plants and equipment, offices, buildings and other structures and the equipment thereof; all machinery, engines, boilers, dynamos, turbines, electric, gas and other machines, prime movers, regulators, meters, transformers, generators (including, but not limited to, engine-driven generators and turbogenerator units), motors, electrical, gas and mechanical appliances, conduits, cables, water, steam, gas or other pipes, gas mains and pipes, service pipes, fittings, valves and connections, pole and transmission lines, towers,

4



overhead conductors and devices, underground conduits, underground conductors and devices, wires, cables, tools, implements, apparatus, storage battery equipment and all other fixtures and personalty; all municipal and other franchises, consents or permits; all lines for the transmission and distribution of electric current and other forms of energy, gas, steam, water or communications, images and data for any purpose including towers, poles, wires, cables, pipes, conduits, ducts and all apparatus for use in connection therewith and (except as herein or in the Mortgage expressly excepted) all the right, title and interest of the Company in and to all other property of any kind or nature appertaining to and/or used and/or occupied and/or enjoyed in connection with any property hereinbefore described;
T OGETHER W ITH all and singular the tenements, hereditaments, prescriptions, servitudes and appurtenances belonging or in anywise appertaining to the aforesaid property or any part thereof, with the reversion and reversions, remainder and remainders and (subject to the provisions of Section 13.01 of the Mortgage) the tolls, rents, revenues, issues, earnings, income, product and profits thereof, and all the estate, right, title and interest and claim whatsoever, at law as well as in equity, which the Company now has or may hereafter acquire in and to the aforesaid property and franchises and every part and parcel thereof;
I T I S H EREBY A GREED by the Company that, subject to the provisions of Section 18.03 of the Mortgage, all the property, rights and franchises acquired by the Company (by purchase, consolidation, merger, donation, construction, erection or in any other way) after the date hereof, except any herein or in the Mortgage expressly excepted, shall be and are as fully mortgaged and pledged hereby and as fully embraced within the Lien of the Mortgage as if such property, rights and franchises were now owned by the Company and were specifically described herein or in the Mortgage and mortgaged hereby or thereby;
P ROVIDED T HAT the following are not and are not intended to be now or hereafter mortgaged or pledged hereunder, nor is a security interest therein hereby granted or intended to be granted, and the same are hereby expressly excepted from the Lien and operation of the Mortgage, namely: (1) cash, shares of stock, bonds, notes and other obligations and other securities not hereafter specifically pledged, paid, deposited, delivered or held under the Mortgage or covenanted so to be; (2) merchandise, equipment, apparatus, materials or supplies held for the purpose of sale or other disposition in the usual course of business or for the purpose of repairing or replacing (in whole or part) any rolling stock, buses, motor coaches, automobiles or other vehicles or aircraft or boats, ships or other vessels, and any fuel, oil and similar materials and supplies consumable in the operation of any of the properties of the Company; rolling stock, buses, motor coaches, automobiles and other vehicles and all aircraft; boats, ships and other vessels; all crops (both growing and harvested), timber (both growing and harvested), minerals (both in place and severed), and mineral rights and royalties; (3) bills, notes and other instruments and accounts receivable, judgments, demands, general intangibles and choses in action, and all contracts, leases and operating agreements not specifically pledged under the Mortgage or covenanted so to be; (4) the last day of the term of any lease or leasehold which may be or become subject to the Lien of the Mortgage; (5) electric energy, gas, water, steam, ice and other materials, forms of energy or products generated, manufactured, produced or purchased by the Company for sale, distribution or use in the ordinary course of its business; (6) any natural gas wells or natural gas leases or natural gas transportation lines or other works or property used primarily and principally in the production of natural gas or its transportation, primarily for the purpose of sale to natural gas customers or to a natural gas distribution or pipeline company, up to the point of connection with any distribution system; (7) the Company’s franchise to be a corporation; (8) any interest (as lessee, owner or otherwise) in the Wyodak Facility, including, without limitation, any equipment, parts, improvements, substitutions, replacements or other property relating thereto; and (9) any property heretofore released pursuant to any provision of the Mortgage and not heretofore disposed of by the Company; provided , however, that the property and rights expressly excepted from the Lien and operation of the Mortgage in the above subdivisions (2) and (3) shall (to the extent permitted by law) cease to be so excepted in the event and as of the date that the Trustee or a receiver for the Trustee shall enter upon and take possession of the Mortgaged and Pledged Property in the manner provided in Article XV of the Mortgage by reason of the occurrence of a Default;

A ND P ROVIDED F URTHER , that as to any property of the Company that, pursuant to the after-acquired property provisions thereof, hereafter becomes subject to the lien of a mortgage, deed of trust or similar indenture that may in accordance with the Mortgage hereafter become designated as a Class “A” Mortgage, the Lien hereof shall at all times be junior and subordinate to the lien of such Class “A” Mortgage;

T O H AVE A ND T O H OLD all such properties, real, personal and mixed, mortgaged and pledged, or in which a security interest has been granted by the Company as aforesaid, or intended so to be (subject, however, to Excepted Encumbrances as defined in Section 1.06 of the Mortgage), unto The Bank of New York Mellon Trust Company, N.A. (as successor to The Bank of New York Mellon), as Trustee, and its successors and assigns forever;
I N T RUST N EVERTHELESS , for the same purposes and upon the same terms, trusts and conditions and subject to and with the same provisos and covenants as are set forth in the Mortgage, this Twenty-Ninth Supplemental Indenture being supplemental to the Mortgage;

5



A ND I T I S H EREBY C OVENANTED by the Company that all the terms, conditions, provisos, covenants and provisions contained in the Mortgage shall affect and apply to the property hereinbefore described and conveyed, and to the estates, rights, obligations and duties of the Company and the Trustee and the beneficiaries of the trust with respect to said property, and to the Trustee and its successor or successors in the trust, in the same manner and with the same effect as if the said property had been owned by the Company at the time of the execution of the Mortgage, and had been specifically and at length described in and conveyed to said Trustee by the Mortgage as a part of the property therein stated to be conveyed.
The Company further covenants and agrees to and with the Trustee and its successor or successors in such trust under the Mortgage, as follows:

ARTICLE I

Forty-Fourth Series of Bonds

SECTION 1.01. There shall be a series of bonds designated “4.125% Series due 2049” (herein sometimes referred to as the Forty-Fourth Series), each of which shall also bear the descriptive title “First Mortgage Bond,” and the form thereof, which shall be established by or pursuant to a Resolution, shall contain suitable provisions with respect to the matters hereinafter in this Section specified.
(I) Bonds of the Forty-Fourth Series shall mature on January 15, 2049 and shall be issued as fully registered bonds in the minimum denomination of two thousand dollars and, at the option of the Company, any multiple or multiples of one thousand dollars in excess thereof (the exercise of such option to be evidenced by the execution and delivery thereof).
The Company reserves the right to establish, at any time, by or pursuant to a Resolution filed with the Trustee, a form of coupon bond, and or appurtenant coupons, for the Forty-Fourth Series and to provide for exchangeability of such coupon bonds with the bonds of the Forty-Fourth Series issued hereunder in fully registered form and to make all appropriate provisions for such purpose.
Bonds of the Forty-Fourth Series need not be issued at the same time and such series may be reopened at any time, without notice to or the consent of any then-existing holder or holders of any bond of the Forty-Fourth Series, for issuances of additional bonds of the Forty-Fourth Series in an unlimited principal amount. Any such additional bonds will have the same interest rate, maturity and other terms as those initially issued, except for payment of interest accruing prior to the original issue date of such additional bonds and, if applicable, for the first interest payment date following such original issue date.
(II) Bonds of the Forty-Fourth Series shall bear interest at the rate of four and one hundred and twenty five thousandths per centum (4.125%) per annum payable semi-annually in arrears on January 15 and July 15 of each year (each, an “Interest Payment Date”). Bonds of the Forty-Fourth Series shall be dated and shall accrue interest as provided in Section 2.06 of the Mortgage.
The initial Interest Payment Date is January 15, 2019. The amount of interest payable will be computed on the basis of a 360-day year consisting of twelve 30-day months. If any date on which interest is payable on any bond of the Forty-Fourth Series is not a Business Day, then payment of the interest payable on that date will be made on the next succeeding day which is a Business Day (and without any additional interest or other payment in respect of any delay), with the same force and effect as if made on such date.
Interest payable on any bond of the Forty-Fourth Series and punctually paid or duly provided for on any Interest Payment Date for such bond will be paid to the person in whose name the bond is registered at the close of business on the Record Date (as hereinafter specified) for such bond next preceding such Interest Payment Date; provided , however , that interest payable at maturity or upon earlier redemption will be payable to the person to whom principal shall be payable. So long as the bonds of the Forty-Fourth Series remain in book-entry only form, the “Record Date” for each Interest Payment Date shall be the close of business on the Business Day before the applicable Interest Payment Date. If the bonds of the Forty-Fourth Series are not in book-entry only form, the Record Date for each Interest Payment Date shall be the close of business on the 1st calendar day of the month in which the applicable Interest Payment Date occurs (whether or not a Business Day).
Business Day ” means, for purposes of this Section (II), a day other than (i) a Saturday or a Sunday, or (ii) a day on which banking institutions in The City of New York are authorized or obligated by law or executive order to remain closed.
Any interest on any bond of the Forty-Fourth Series which is payable but is not punctually paid or duly provided for, on any Interest Payment Date for such bond (herein called “Defaulted Interest”), shall forthwith cease to be payable to the registered owner on the relevant Record Date for the payment of such interest solely by virtue of such owner having been such owner; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection (i) or

6



(ii) below:

 
(i)
The Company may elect to make payment of any Defaulted Interest on the bonds of the Forty-Fourth Series to the persons in whose names such bonds are registered at the close of business on a Special Record Date (as hereinafter defined) for the payment of such Defaulted Interest, which shall be fixed in the following manner: The Company shall, at least 30 days prior to the proposed date of payment, notify the Trustee in writing (signed by an Authorized Financial Officer of the Company) of the amount of Defaulted Interest proposed to be paid on each bond of the Forty-Fourth Series and the date of the proposed payment (which date shall be such as will enable the Trustee to comply with the next sentence hereof), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons entitled to such Defaulted Interest as in this subsection provided and not to be deemed part of the Mortgaged and Pledged Property. Thereupon, the Trustee shall fix a record date (herein referred to as a “Special Record Date”) for the payment of such Defaulted Interest which date shall be not more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each registered owner of a bond of the Forty-Fourth Series at his, her or its address as it appears in the bond register not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the persons in whose names the bonds of the Forty-Fourth Series are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following subsection (ii).
 
(ii)
The Company may make payment of any Defaulted Interest on the bonds of the Forty-Fourth Series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such bonds may be listed and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this subsection, such payment shall be deemed practicable by the Trustee.
 
Subject to the foregoing provisions of this Section, each bond of the Forty-Fourth Series delivered under the Mortgage upon transfer of or in exchange for or in lieu of any other bond shall carry all rights to interest accrued and unpaid, and to accrue, which were carried by such other bond and each such bond shall bear interest from such date, that neither gain nor loss in interest shall result from such transfer, exchange or substitution.
(III) The principal of and interest and premium, if any, on each bond of the Forty-Fourth Series shall be payable at the office or agency of the Company in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for public and private debts or in such other currency or currency unit as shall be determined by or in accordance with the Resolution filed with the Trustee.
(IV) Bonds of the Forty-Fourth Series shall not be redeemable prior to maturity at the option of any holder or holders of such bonds. Bonds of the Forty-Fourth Series shall be redeemable in whole or in part and at any time prior to maturity at the option of the Company. Prior to July 15, 2048 (the “par call date”), the redemption price shall include accrued and unpaid interest to the redemption date on the bonds to be redeemed, plus the greater of (a) one hundred per centum (100%) of the principal amount of bonds then Outstanding to be redeemed, and (b) the sum of the present values of the remaining scheduled payments of principal and interest thereon that would be due if the bonds of the Forty-Fourth Series matured on the par call date (not including any portion of such payments of interest accrued as of the redemption date) discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate, plus 20 basis points, as calculated by an Independent Investment Banker. At any time on or after the par call date, the redemption price shall include accrued and unpaid interest to the redemption date on the bonds to be redeemed, plus one hundred percent (100%) of the principal amount of bonds then Outstanding to be redeemed. The Company shall give the Trustee notice of the redemption price referred to in the second preceding sentence immediately after the calculation thereof, and the Trustee shall have no responsibility for such calculation. If the Company elects to partially redeem the bonds of the Forty-Fourth Series, the bonds of the Forty-Fourth Series to be redeemed shall be selected by lot; provided, that if the bonds of the Forty-Fourth Series are in book-entry only form, interests in such bonds shall be selected for redemption by The Depository Trust Company in accordance with its standard procedures therefor.
Business Day ” means, for purposes of this Section (IV), a day other than (i) a Saturday or a Sunday, or (ii) a day on which banking institutions in The City of New York are authorized or obligated by law or executive order to remain closed.

7



Comparable Treasury Issue ” means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the bonds of the Forty-Fourth Series (assuming, for this purpose, that the bonds of the Forty-Fourth Series matured on the par call date) to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such bonds (the “Remaining Life”).
Comparable Treasury Price ” means, with respect to any redemption date, the Reference Treasury Dealer Quotation for such redemption date.
Independent Investment Banker ” means an investment banking institution of international standing appointed by the Company.
Reference Treasury Dealer ” means a primary U.S. government securities dealer in New York City appointed by the Company.
Reference Treasury Dealer Quotation ” means, with respect to the Reference Treasury Dealer and any redemption date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount and quoted in writing to the Company by such Reference Treasury Dealer at 5:00 p.m. on the third business day in New York City preceding such redemption date).
Treasury Rate ” means, as of a given redemption date, the rate per annum equal to the semi-annual equivalent or interpolated (on a daycount basis) yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for that redemption date.
(V) Each bond of the Forty-Fourth Series may have such other terms as are not inconsistent with Section 2.03 of the Mortgage, and as may be determined by or in accordance with a Resolution filed with the Trustee.
(VI) At the option of the registered owner, any bonds of the Forty-Fourth Series, upon surrender thereof for cancellation at the office or agency of the Company in the Borough of Manhattan, The City of New York, shall be exchangeable for a like aggregate principal amount of bonds of the same series and same terms of other authorized denominations.
(VII) Bonds of the Forty-Fourth Series shall be transferable, subject to any restrictions thereon set forth in any such bond of the Forty-Fourth Series, upon the surrender thereof for cancellation, together with a written instrument of transfer, if required by the Company, duly executed by the registered owner or by his, her or its duly authorized attorney, at the office or agency of the Company in the Borough of Manhattan, The City of New York. Upon any transfer or exchange of bonds of the Forty-Fourth Series, the Company may make a charge therefor sufficient to reimburse it for any tax or taxes or other government charge, as provided in Section 2.08 of the Mortgage, but the Company hereby waives any right to make a charge in addition thereto for any exchange or transfer of bonds of the Forty-Fourth Series.
(VIII) After the execution and delivery of this Twenty-Ninth Supplemental Indenture and upon compliance with the applicable provisions of the Mortgage and this Twenty-Ninth Supplemental Indenture, it is contemplated that there shall be issued bonds of the Forty-Fourth Series in an initial aggregate principal amount of Six Hundred Million Dollars (U.S. $600,000,000).


ARTICLE II

The Company Reserves the Right to Amend Provisions

Regarding Properties Excepted from Lien of Mortgage

SECTION 2.01. The Company reserves the right, without any consent or other action by holders of bonds of the Ninth Series, or any other series of bonds subsequently created under the Mortgage (including the bonds of the Forty-Fourth Series), to make such amendments to the Mortgage, as heretofore amended and supplemented, as shall be necessary in order to amend the first proviso to the granting clause of the Mortgage, which proviso sets forth the properties excepted from the Lien of the Mortgage, to add a new exception (10) which shall read as follows:
“(10) allowances allocated to steam-electric generating plants owned by the Company or in which the Company has interests, pursuant to Title IV of the Clean Air Act Amendments of 1990, Pub. L. 101-549, Nov.

8



15, 1990, 104 Stat. 2399, 42 USC 7651, et seq., as now in effect or as hereafter supplemented or amended.”
    
ARTICLE III

Miscellaneous Provisions

SECTION 3.01. The right, if any, of the Company to assert the defense of usury against a holder or holders of bonds of the Forty-Fourth Series or any subsequent series shall be determined only under the laws of the State of New York.

SECTION 3.02. The terms defined in the Mortgage shall, for all purposes of this Twenty-Ninth Supplemental Indenture, have the meanings specified in the Mortgage. The terms defined in Article I of this Twenty-Ninth Supplemental Indenture shall, for purposes of such Article, have the meanings specified in Article I of this Twenty-Ninth Supplemental Indenture.

SECTION 3.03. The Trustee hereby accepts the trusts hereby declared, provided, created or supplemented, and agrees to perform the same upon the terms and conditions herein and in the Mortgage, as hereby supplemented, set forth, including the following:

The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Twenty-Ninth Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made by the Company solely. Each and every term and condition contained in Article XIX of the Mortgage shall apply to and form part of this Twenty-Ninth Supplemental Indenture with the same force and effect as if the same were herein set forth in full, with such omissions, variations and insertions, if any, as may be appropriate to make the same conform to the provisions of this Twenty-Ninth Supplemental Indenture.

SECTION 3.04. Whenever in this Twenty-Ninth Supplemental Indenture either of the Company or the Trustee is named or referred to, this shall, subject to the provisions of Articles XVIII and XIX of the Mortgage, be deemed to include the successors and assigns of such party, and all the covenants and agreements in this Twenty-Ninth Supplemental Indenture contained by or on behalf of the Company, or by or on behalf of the Trustee, shall, subject as aforesaid, bind and inure to the respective benefits of the respective successors and assigns of such parties, whether so expressed or not.

SECTION 3.05. Nothing in this Twenty-Ninth Supplemental Indenture, expressed or implied, is intended, or shall be construed to confer upon, or to give to, any person, firm or corporation, other than the parties hereto and the holders of the bonds and coupons outstanding under the Mortgage, any right, remedy or claim under or by reason of this Twenty-Ninth Supplemental Indenture or any covenant, condition, stipulation, promise or agreement hereof, and all the covenants, conditions, stipulations, promises and agreements in this Twenty-Ninth Supplemental Indenture contained by or on behalf of the Company shall be for the sole and exclusive benefit of the parties hereto, and of the holders of the bonds and of the coupons outstanding under the Mortgage.
SECTION 3.06. This Twenty-Ninth Supplemental Indenture shall be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument.

ARTICLE IV

Specific Description of Property

The properties of the Company, owned as of the date hereof, and used (or held for future development and use) in connection with the Company’s electric utility systems, or for other purposes, and not previously described under the Mortgage, are as follows:

Sam’s Valley Substation
Internal Parcel No: ORJA-0108
County and State: Jackson County, Oregon
County Assessor number: 362W05-700

9




Legal Description:
Real property totaling approximately 17.74 acres located at 8971 Highway 234 in Central Point, Oregon, County of Jackson, State of Oregon, map number 362W05, tax lot number 700.

The East Half of the Northeast Quarter of the Northwest Quarter of Section 5 in Township 36 South, Range 2 West of the Willamette Meridian in Jackson County, Oregon. EXCEPTING THEREFROM the following: Commencing at the north quarter corner of Section 5 in Township 36 South, Range 2 West of the Willamette Meridian in Jackson County, Oregon, thence South 13 degrees 25'30" West 785.0 feet to the true point of beginning; thence North 89 degrees 36'30" East 200.0 feet; thence South 1 degrees 29'30" East 558.2 feet; thence South 89 degrees 36'30" West 200.0 feet; thence North 1 degrees 29'30" West 558.2 feet to the true point of beginning. ALSO EXCEPTING THEREFROM that portion conveyed to the State of Oregon (by and through its State Highway Commission) by deed recorded in Volume 346 page 12 of the Deed Records of Jackson County, Oregon.

Gromore Substation
Internal Parcel No: WAYA-0100
County and State: Yakima County, Washington
County Assessor number: 171322-44402

Legal Description:
Yakima County parcel number: 171322-44402

Lot 2 of Short Plat recorded April 13, 2004 under Auditor’s File No. 7394385, records of Yakima County, Washington, collectively with all improvements, structures, appurtenances, water rights, water shares (including 5.7 water shares issued by the Yakima Tieton Irrigation District), rights, privileges and easements belonging thereto, the “Property”.

Turkey Hill substation expansion
Internal Parcel No: ORKL-0306
County and State: Klamath County, Oregon
County Assessor number: 13,688 square feet came from a portion of R4112-01600-01300-000 and was added to existing parcel ORKL-0121 through lot line deed.

Legal Description:
Certain real property located in the County of Klamath, State of Oregon, described as follows:

Portion of Parcel ID R10365

That portion of land situate within the Northeast 1/4 of Section 16, Township 41 South, Range 12 East, Willamette Meridian, Klamath County, State of Oregon, more particularly described as follows:

Beginning at a point on the Easterly right-of-way line of Drazil Road, a County Road, said point also being the Northwest corner of that certain parcel of land described in that Warranty Deed to The California Oregon Power Company, recorded on July 6, 1925, in Book 67, page 224, Record of Deeds in Klamath County, Oregon, from which the 1/4 corner common to Section 9 and 16 of said Township bears North 01°25’ West, 2519 feet distant; Thence along said easterly right-of-way line, North 00°47’ West, 59.33 feet; thence departing said Easterly right-of-way line, North 89°13’ East, 148.67 feet; thence South 00°47’ East, 159.33 feet, more or less, to a point on the Northerly right-of-way line of State Route 50 (Klamath Falls - Malin Highway); thence along said Northerly right-of-way line, South 89°13' West, 48.67 feet, to the Southeast corner of said Warranty Deed parcel; thence departing said Northerly right-of-way line, along the Easterly line of said Warranty Deed parcel, North 00°47’ West, 100 feet; Thence along the Northerly line of said Warranty Deed parcel, South 89°13’ West, 100 feet, more or less, to the point of beginning.

Gateway substation
Internal Parcel No: ORMU-0133
County and State: Multnomah County, Oregon
County Assessor number: 1N2E33AB-00200

Legal Description:
TL 200 the Property-

Parcel 2: A tract of land in the City of Portland, County of Multnomah and State of Oregon, described as follows:


10



Beginning at the quarter section corner in the North side of Section 33, Township 1 North, Range 2 East of the Willamette Meridian; thence East tracing the North line of Section 33, 364.03 feet to a point; thence South on a line parallel with the West line of the Northeast quarter of Section 33, 326.5 feet to a point in the North line of the Oregon Railway and Navigation Company's right of way; thence Westerly tracing the said North line of Oregon Railway & Navigation Company's right of way 305.03 feet to a point in the West line of the Northeast quarter of Section 33, thence North tracing the West line of said Northeast quarter of Section 33, 431 feet to the place of beginning;

EXCEPT the right of the public in and to that portion thereof included in NE Halsey Street; and EXCEPTING therefrom the West 163 feet conveyed to NE VanHord Construction Co., by deed recorded April 15, 1947 in Book 1162 page 559; Deed Records.

Swift III - Marble Mountain
Internal Parcel No: WASK-0087
County and State: Skamania County, Washington
County Assessor number:
T7N R5E 23 = 07050000250000, T7N R5E 15 = 07050000170000, T7N R5E 11= 07050000120000, T7N R5E 9 SW1/4= 07050900010000, 07050900020000, 07050900030000, and 07050900040000, T7N R5E 9 NW1/4 = 07050900050000, 07050900060000, 07050900070000, and 07050900080000.

Legal Description:

TRACT 33
THE SOUTH 660 FEET OF THE WEST 1335 FEET OF THE WEST HALF OF SECTION 9 , TOWNSHIP 7 NORTH, RANGE 5 EAST OF THE WILLAMETTE MERIDIAN , SKAMANIA COUNTY, WASHINGTON.

TOGETHER WITH EASEMENT FOR ACCESS CONVEYED BY EASEMENT RECORDED UNDER SKAMANIA COUNTY AUDITOR'S FILE NO. BOOK 61 , PAGE 155.

TRACT 34
THE NORTH 660 FEET OF THE SOUTH 1320 FEET OF THE WEST 1335 FEET OF THE WEST HALF OF SECTION 9 , TOWNSHIP 7 NORTH , RANGE 5 EAST OF THE WILLAMETTE MERIDIAN , SKAMANIA COUNTY, WASHINGTON.

TOGETHER WITH EASEMENT FOR ACCESS CONVEYED BY EASEMENT RECORDED UNDER SKAMANIA COUNTY AUDITOR'S FILE NO. BOOK 61, PAGE 155.

TRACT 35
THE NORTH 660 FEET OF THE SOUTH 1980 FEET OF THE WEST 1335 FEET OF THE WEST HALF OF SECTION 9, TOWNSHIP 7 NORTH, RANGE 5 EAST OF THE WILLAMETTE MERIDIAN , SKAMANIA COUNTY, WASHINGTON.

TOGETHER WITH EASEMENT FOR ACCESS CONVEYED BY EASEMENT RECORDED UNDER SKAMANIA COUNTY AUDITOR'S FILE NO. BOOK 61, PAGE 155.

TRACT 36
THE NORTH 660 FEET OF THE SOUTH 2640 FEET OF THE WEST 1335 FEET OF THE WEST HALF OF SECTION 9 , TOWNSHIP 7 NORTH , RANGE 5 EAST OF THE WILLAMETTE MERIDIAN , SKAMANIA COUNTY, WASHINGTON.

TOGETHER WITH EASEMENT FOR ACCESS CONVEYED BY EASEMENT RECORDED UNDER SKAMANIA COUNTY AUDI T OR'S FILE NO. BOOK 61 , PAGE 155.

TRACT 37
THE NORTH 660 FEET OF THE SOUTH 3300 FEET OF THE WEST 1335 FEET OF THE WEST HALF OF SECTION 9 , TOWNSHIP 7 NORTH , RANGE 5 EAST OF THE WILLAMETTE MERIDIAN , SKAMANIA COUNTY , WASHINGTON.

TOGETHER WITH EASEMENT FOR ACCESS CONVEYED BY EASEMENT RECORDED UNDER SKAMANIA COUNTY AUDITOR'S FILE NO . BOOK 61, PAGE 155.

TRACT 38
THE NORTH 660 FEET OF THE SOUTH 3960 FEET OF THE WEST 1335 FEET OF THE WEST HALF OF SECTION 9 , TOWNSHIP 7 NORTH, RANGE 5 EAST OF THE WILLAMETTE MERIDIAN , SKAMANIA COUNTY , WASHINGTON.


11



TOGETHER WITH EASEMENT FOR ACCESS CONVEYED BY EASEMENT RECORDED UNDER SKAMANIA COUNTY AUDITOR'S FILE NO . BOOK 61 , PAGE 155.

TRACT 39
THE NORTH 660 FEET OF THE SOUTH 4620 FEET OF THE WEST 1335 FEET OF THE WEST HALF OF SECTION 9, TOWNSHIP 7 NORTH, RANGE 5 EAST OF THE WILLAMETTE MERIDIAN, SKAMANIA COUNTY , WASHINGTON.

TOGETHER WITH EASEMENT FOR ACCESS CONVEYED BY EASEMENT RECORDED UNDER SKAMANIA COUNTY AUDITOR'S FILE NO. BOOK 61 , PAGE 155.

TRACT 40
THE WEST 1335 FEET OF THE WEST HALF OF SECTION 9, TOWNSHIP 7 NORTH , RANGE 5 EAST OF THE WILLAMETTE MERIDIAN, SKAMANIA COUNTY , WASHINGTON.

EXCEPT THE SOUTH 4620 FEET THEREOF.

TOGETHER WITH EASEMENT FOR ACCESS CONVEYED BY EASEMENT RECORDED UNDER SKAMANIA COUNTY AUDITOR'S FILE NO. BOOK 61, PAGE 155.

TRACT 43
SECTION 11, TOWNSHIP 7 NORTH, RANGE 5 EAST OF THE WILLAMETTE MERIDIAN , SKAMANIA COUNTY, WASHINGTON.

TOGETHER WITH EASEMENT FOR ACCESS CONVEYED BY EASEMENTS RECORDED UNDER SKAMANIA COUNTY AUDITOR'S FILE NOS. BOOK 61 , PAGE 155 AND BOOK 70 , PAGE 652.

TRACT 46
THE NORTH HALF AND THE NORTH HALF OF THE SOUTHWEST QUARTER AND THE SOUTHEAST QUARTER OF SECTION 15 , TOWNSH I P 7 NORTH , RANGE 5 EAST OF THE WILLAMETTE MERID I AN, SKAMANIA COUNTY, WASHINGTON .

TOGETHER WITH EASEMENT FOR ACCESS CONVEYED BY EASEMENT RECORDED UNDER SKAMANIA COUNTY AUDITOR'S FILE NO. BOOK 61 , PAGE 155 AND EASEMENT SUPPLEMENT(S) RECORDED UNDER SKAMANIA COUNTY AUDITOR'S FILE NO. 94937.

TRACT 47
THE NORTH HALF AND THE NORTHEAST QUARTER OF THE SOUTHWEST QUARTER AND THE SOUTHEAST QUARTER OF SECT I ON 23, TOWNSHIP 7 NORTH, RANGE 5 EAST OF THE WILLAMETTE MERIDIAN, SKAMANIA COUNTY, WASHINGTON.

TOGETHER WITH EASEMENT FOR ACCESS CONVEYED BY EASEMENT RECORDED UNDER SKAMANIA COUNTY AUDITOR'S FILE NO . BOOK 61, PAGE 155 AND EASEMENT SUPPLEMENT(S) RECORDED UNDER SKAMANIA COUNTY AUDITOR'S FILE NO(S). 88992 AND 74242.

Vantage to Pomona mitigation land
Internal Parcel No: WAKS-0001
County and State: Kittitas County, Washington
County Assessor number: 824536

Legal description:
County parcel #824536

The Northeast Quarter and the Southeast Quarter of Section 23, Township 15 North, Range 19 East, W.M., in the County of Kittitas, State of Washington, EXCEPT the Southwest Quarter of the Southeast Quarter.

Also shown of record as Parcel 4 of Survey recorded April 18, 2008 in Book 35 of Surveys, pages 11 through 14, Auditor's File No. 200804180063.

Vantage to Pomona mitigation land

12



Internal Parcel No: WAKS-0002
County and State: Kittitas County, Washington
County Assessor number: 804536 and 644536

Legal description
County parcel #804536

The Northeast Quarter of the Northeast Quarter of Section 26, Township 15 North, Range 19 East, W.M., in the County of Kittitas, State of Washington.

Also shown of record as Parcel 9 of Survey recorded April 18, 2008 in Book 35 of Surveys, pages 11 through 14, Auditor's File No. 200804180063.

AND;

County parcel #644536
The North Half of Section 25, Township 15 North, Range 19 East, W.M., in the County of Kittitas, State of Washington,

EXCEPT:
1. The Southwest Quarter of the Northwest Quarter thereof;
2. The South Half of the South Half of the Northeast Quarter thereof;
3. The South Half of the Southeast Quarter of the Northwest Quarter thereof;
4. Right-of-way of Primary State Highway No. 3

Also shown of record as Parcel 8 of Survey recorded April 18, 2008 in Book 35 of Surveys, pages 11 through 14, Auditor's File No. 200804180063.

Eagle Mountain Substation
Internal Parcel No: UTUT-0279
County and State: Utah, Utah
County Tax I.D. NO: Part of 558-005-0061 & 58-005-0070

Legal Desciption:
Acres: 3.681

Beginning at a point on the South line of the Northwest Quarter of the Southeast Quarter of Section 35 said point being North 00ᵒ10’26” East 1327.36 feet and North 89ᵒ53’39” East 580.97 feet from the South Quarter Corner of Section 35, Township 4 South, Range 1 West, Salt Lake Base and Meridian, and running thence North 17ᵒ18’57” West 338.93 feet; thence North 72ᵒ41’03” East 400.00 feet; thence South 17ᵒ18’57” East 462.83 feet to the South line of the Northwest Quarter of the Southeast Quarter of Section 35; thence South 89ᵒ53’39” West 418.74 feet along said South line to point of beginning.
The basis of bearing for this description is North 0ᵒ10’26” East 2654.41 feet as of record from the State Plane Coordinate and Dependant Resurvey of Township 4 South, Range 1 West, Salt Lake Base and Meridian, between the South Quarter corner and the Center Quarter corner of Section 35. As recorded in the office of the Utah County Surveyor.

Cameron Milford 138kV project
Internal Parcel Number: UBTR0025
County and State: Beaver, Utah
County Tax ID No. 02-0023-0003

Legal Description:
Acres: 3.04

Undivided ½ Interest:
Commencing 486 feet East from the Southwest corner of the Southeast Quarter of Section 7, Township 28 South, Range 10 West, Salt Lake Base and Meridian and running thence North 32ᵒ22’ East 1020 feet; thence North 52ᵒ37’ East 364.5 feet; thence North 237.2 feet to the Northeast corner of the Southwest Quarter of the Southeast Quarter; thence West to the Easterly right of way line of the Union Pacific Railroad Right of Way; thence Southwesterly along the Easterly Right of Way to the South line of Section 7, thence East 44 feet to the point of beginning.

13




Excepting therefrom that portion lying within the boundaries of the Union Pacific Railroad right of way.

Subject to a Right of Way for a Road and incidental purposed as now exists.

Hickory Substation
Internal Parcel No: UTBR-0026
County and State: Beaver, Utah
County Tax I.D. NO: Part of 2-11-3

Legal Description:
Acres: 7.70
Beginning at a point that is located N 89ᵒ08’10” W 760.2 feet and SOUTH 34.6 feet from the Center Quarter Corner of Section 6, Township 27 South, Range 10 West, Salt Lake Base and Meridian; thence S 89ᵒ01’13” E 383.6 feet; thence S 00ᵒ58’47” W 5.0 feet; thence S 89ᵒ01’13” E 410.0 feet; thence N 00ᵒ58’47” E 5.0 feet; thence S 89ᵒ01’13” E 131.4 feet; thence S 00ᵒ58’47” W 365.0 feet; thence N 89ᵒ01’13” W 925.0 feet; thence N 00ᵒ58’47” E 365.0 feet to the point of beginning. Part of Parcel 2-11-3.
Containing 7.70 acres, more or less.
Being in the NE ¼ of the SW ¼ and the NW ¼ of the SE ¼ of said Section 6. Basis of Bearings in S 00ᵒ37’30” W from a 2012 BLM aluminum cap monument at the Center Quarter Corner to a 2009 Beaver County aluminum cap monument at the South Quarter Corner of said Section 6.

Holt Substation
Internal Parcel No: UTIR-0058
County and State: Iron, Utah
County Tax I.D. NO: Part of E-1463-1 and Part of E-1463-2

Legal Description:
Acres: 1.27

Beginning at a point that is located N 89ᵒ59’47” E 648.44 feet along the section line and NORTH 103.85 feet from a spike in a cedar stump for the Southwest Corner of Section 24 (northwest Corner of Section 25), Township 36 South, Range 16 West, Salt Lake Base and Meridian; running thence N 59ᵒ43’13” E 305.00 feet; thence S 30ᵒ16’46” E 69.80 feet; thence N 59ᵒ43’14” E 5.00 feet; thence S 30ᵒ16’46” E 110.30 feet; thence S 59ᵒ43’13” W 310.00 feet; thence N 30ᵒ16’46” W 180.00 feet to the point of beginning. Part of Parcel E1463-1 and E1463-2.
Containing 1.27 acres, more or less.
Being in the SW ¼ of the SW ¼ of Section 24 and the NW ¼ of the NW ¼ of Section 25, Township and Range aforesaid.
Basis of bearings is N 89ᵒ59’47” E along the section line from a spike in a cedar stump for the Southwest Corner to a marked stone for the South Quarter Corner of said Section 24.

Snyderville Substation Expansion
Internal Parcel No: UTSU-0040
County and State: Summit, Utah
County Tax I.D. NO: KJS-3-AM3&5

Legal Description:
Acres: .89

The Basis of Bearing for this Survey is South 00ᵒ15’22” West from the found Northeast Corner of Section 24, Township 1 South, Range 3 East, Salt Lake Base and Meridian to the found Southeast Corner of said Section 24.
Beginning at the Southeast Corner of Lot 3, Kimball Junction Subdivision Amendment to Lots 3 and 5, Record No.989480, said point being North 89ᵒ31’06” West, along the Section line, 361.69 feet and North 00ᵒ28’54” East 401.80 feet from the Southwest Corner of section 19, Township 1 South, Range 4 East, Salt Lake Base and Meridian and running thence North

14



89ᵒ12’39” West, along the Boundary line of said Lot 3, 175.40 feet; thence North 00ᵒ51’41” East 214.13 feet; thence South 89ᵒ10’03” East 275.00 feet; thence South 00ᵒ47’10” East 14.00 feet to the South line of said Lot 3; thence along said Lot line the following two (2) courses: 1) North 89ᵒ10’03” West 100.00 feet; 2) South 00ᵒ51’41” West 200.00 feet to the Southeast Corner of said Lot 3 and the point of beginning.
Contains 0.89 acres or 38,943 SF, more or less.



Panguitch Solar
Internal Parcel No: UTGU-0007
County and State: Garfield, Utah
County Tax I.D. NO: Part of 07-0063-0544

Legal Description:
Acres: 9.75

Beginning North 89ᵒ42’45” East 1049.96 feet and North 1756.05 feet from the Southwest corner of Section 29, Township 34 South, Range 4 West, Salt Lake Base and Meridian, and running thence South 89ᵒ50’17” East 527.46 feet; thence North 0ᵒ42’48” East 705.85 feet to a point on the Southerly line of the Johnston Parcel (p-549); thence North 89ᵒ50’45” West along said Johnston Parcel, 77.57 feet to the Southeast corner of LeFevre parcel (p-576); thence South 89ᵒ12’30” West along said parcel 151.38 feet to the Southwest corner of said LeFevre parcel; thence North 1ᵒ51’16” East along said LeFevre parcel 180.17 feet to the Southerly right of way line of 175 North Street; thence South 89ᵒ24’34” West along said Southerly right of way line 302.22 feet; thence South 0ᵒ42’47” West 879.45 feet to the point of beginning.

Terminal-Oqhirrh Transmission Lands (Mtn View Corridor)
Internal Parcel No: UTSL-0228
County and State: Salt Lake, Utah
County Tax I.D. NO: 2002426004

Legal Description:
Acres: .037

A tract of land situate in Lot 206, Cape Cod Estates Phase 2, a subdivision recorded as Entry No. 5616263 in Book 93-9 at Page 269 in the Office of the Sale Lake County Recorder, in the NW ¼ SE ¼ of Section 2, T. 2 S., R. 2 W., S.L.B. & M. The boundaries of said tract of land are described as follows:
Beginning at the northwest corner of said Lot 206; and running thence S. 89ᵒ51’34” E. 16.06 feet along the northerly boundary line of said lot; thence S. 00ᵒ07’27” W. 100.20 feet to the existing northerly right of way line of Cape Cod Drive; thence N. 89ᵒ44’26” W. 16.30 feet along said right of way line to the southwest corner of said lot; thence N. 00ᵒ15’34” East 100.17 feet along the westerly boundary line of said lot to the point of beginning. The above described tract of land contains 1,621 square feet in area or 0.037 acres, more or less.

106 th SOUTH SUBSTATION
Internal Parcel No.: UTSL0869
County and State: Salt Lake, Utah
County Tax I.D. No.: 27-13-451-016

Legal Description:
Acres: 0.30

A tract of land situate in the Northeast quarter of the Southwest quarter and the Northwest quarter of the Southeast quarter of Section 13, Township 3 South, Range 1 West, Salt Lake Base and Meridian, being more particularly described as follows:

Beginning on the West boundary line of the Grantor's land, said West boundary lien also being the East right of way line of the Union Pacific Railroad at a point 1356.91 feet North and 156.28 feet West, more or less, from the South one quarter corner of Section 13, Township 3 South, Range 1 West, Salt Lake Base and Meridian; and running thence North 06°04’58” East 40.18 feet along said West boundary; thence East 106.04 feet; thence North 66°58’44” East 224.57 feet to the Northeasterly boundary line of the Grantor's land, said Northeasterly boundary line also being the Southwesterly right of way line of a PacifiCorp transmission

15



corridor; thence South 23°01’16” East 37.58 feet along said Northeasterly boundary line; thence South 66°58’44” West 238.22 feet; thence West 112.36 feet to the point of beginning; containing 0.30 of an acre, more or less.



AMASA SUBSTATION
Internal Parcel No.: WYCV-0039
County and State: Converse, Wyoming
County Tax I.D. No.: 32760110002100

Legal Description:
Acres: 5.00

A Parcel located in and being a portion of Lot 7, Section 1, Township 32 North, Range 76 West of the Sixth Principal Meridian, Converse County, Wyoming and being more particularly described by metes and bounds as follows:

Beginning at the northerly corner of said Parcel and a point in said Lot 7, Section 1. and from which point the northwest corner of said Lot 7, Section 1. Bears N.67°16’14”W., 335.83 feet; thence from said Point of Beginning and along the northeasterly line of said Parcel, in said Lot 7, Section 1, S.63°11’49”E., 466.70 feet to the easterly corner of said Parcel; thence along the southeasterly line of said Parcel, S.26°48’11”W., 466.70 feet to the southerly corner of said Parcel; thence along the southwesterly line of said Parcel, N.63°11’49”W., 466.70 feet to the westerly corner of said Parcel; thence along the northwesterly line of said Parcel, N.26°48’11”E., 466.70 feet to the Point of Beginning and containing 5.00 acres, more or less.

CAMP WILLIAMS-SPANISH FORK 345
Internal Parcel No.: UTSL-0871
County and State: Salt Lake, Utah
County Tax I.D. No.: 33-22-200-004

Legal Description:
Acres: 0.582

Beginning at the center of Section 22, Township 4 South, Range 1 West, Salt Lake Base and Meridian (said center of Section being North along the section line 2619.39 feet from the South quarter corner of said Section 22), and running thence North 45.00 feet ; thence South 70°24’00” West 76.83 feet; thence North 31°35’54” West 61.34 feet; thence North 70°24’00” East 110.94 feet; thence North 144.06 feet; thence South 31°35’54” East 297.85 feet; thence North 89°39’19” West 156.06 feet to the point of beginning, containing 0.582 of an acre.

CAMP WILLIAMS-SPANISH FORK 345
Internal Parcel No.: UTSL-0872
County and State: Salt Lake, Utah
County Tax I.D. No.: 33-22-400-020

Legal Description:
Acres: 3.26

Beginning at a point being South 488.23 feet along the section line and East 455.82 feet from the center of Section 22. Township 4 South, Range l West, Salt Lake Base and Meridian (said center of Section being North along the section line 2619.39 feet from the South quarter corner of said Section 22), and running thence South 31°35’54” East 973.00 feet; thence North. 89°34’05” West 217.04 feet; thence North 31°35’54” West 459.65 feet; thence North 06°58’00” West 438.69 feet to the paint of beginning, containing 3.26 acres, more or less.

CAMP WILLIAMS-SPANISH FORK 345
Internal Parcel No.: UTSL-0873
County and State: Salt Lake, Utah
County Tax I.D. No.: 33-22-400-020

Legal Description:
Acres: 0.039


16



Beginning at a point being South 97.41 feet along the section line from the center of Section 22, Township 4 South, Range 1 West, Salt Lake Base and Meridian (said center of said Section 22), and running thence South 32°01’00” East 648.63 feet; thence South 06°48’00” East 12.55 feet; thence North 31°35’54” West 659.15 feet; thence North 1.01 feet to the point of beginning, containing 0.039 of an acre, more or less.

McClelland Substation
Internal Parcel No.: UTSL-0868
County and State: Salt Lake, Utah
County Tax I.D. No. 16-08-251-004

Legal Description:
THE BASIS OF BEARING FOR THIS DESCRIPTION IS NORTH 89°27’58" WEST BETWEEN THE FOUND STREET MONUMENT AT THE INTERSECTION OF 800 SOUTH AND MCCLELLAND STREET AND THE FOUND STREET MONUMENT AT THE INTERSECTION OF 800 SOUTH 900 EAST STREET.

BEGINNING AT A POINT BEING NORTH 89°28’39” WEST 211.00 FEET ALONG THE SOUTHERLY RIGHT OF WAY LINE OF 800 SOUTH STREET AND SOUTH 00°34’47” WEST 110.76 FEET FROM THE NORTHEAST CORNER OF BLOCK 8, FREMONT HEIGHTS SUBDIVISION PLAT RECORDED AS C-143 IN THE OFFICIAL RECORDS OF THE SALT LAKE COUNTY RECORDER’S OFFICE, SAID POINT ALSO BEING SOUTH 00°36'00" WEST 68.20 FEET ALONG THE MONUMENT LINE AND NORTH 89°28’39” WEST 244.00 FEET AND SOUTH 00°34’47” WEST 100.76 FEET FROM THE FOUND BRASS CAP MONUMENT AT THE INTERSECTION OF 800 SOUTH AND MCCLELLAND STREET AND RUNNING THENCE SOUTH 00°34’47” WEST 44.49 FEET; THENCE NORTH 89°25’13” WEST 3.57 FEET; THENCE NORTH 13°41’48” WEST 45.90 FEET; THENCE SOUTH 89°25’13” EAST 14.89 FEET TO THE POINT OF BEGINNING.

CONTAINS 410 Sq. Ft. more or less

SAMARIA METERING STATION
Internal Parcel No.: UTBX-0087
County and State: Box Elder, Utah
County Tax I.D. No.: 08-046-0002

Legal Description:
Acres: 0.24

A parcel of land, situate in the Southeast Quarter of Section 17, Township 14 North, Range 3 West, Salt Lake Base and Meridian, Box Elder County, Utah. The boundaries of said parcel are described as follow:

Beginning at a point which is 2667.24 feet N.89°02’03”E. along the section line and 917.76 feet N.00°57’57”W. from the Southwest Corner of said Section 17 and running thence N.14°25’09”W. 110.00 feet; thence N.75°34’51”E. 95.00 feet; thence S.14°25’09”E. 110.00 feet; thence S.75°34’51”W. 95.00 feet to the point of beginning, containing 0.24 of an acre, more or less.

TRAVERSE RIDGE COMM SITE
Internal Parcel No.: UTUT-0277
County and State: Utah, Utah
County Tax I.D. No.: 11-013-0141

Legal Description:
Acres: 0.258

Beginning at a point which is North 1196.97 feet and East 1178.03 feet from the Northeast Comer of Section 24, Township 4 South, Range 1 West, Salt Lake Base and Meridian; thence North 19°14’37” West 113.62 feet to the southerly right of way line of the Access Road Easement (Entry No. 129183:2016); thence North 79°10’26” East along said right of way 2.16 feet to a point of curvature; thence along said right of way and along the arc of a 260.00 foot radius curve to the left 98.54 feet through a central angle of 21°42’51”,the chord of which bears North 68°19’11” East 97.95 feet; thence leaving said right of way South 19°14’37” East 117.47 feet; thence South 70°45’23” West 100.00 feet to the point of beginning, containing 0.258 of an acre, more or less.

Naughton Plant FGD Pond
Parcel #: WYLY-0048

17



County and State: Lincoln, Wyoming
Tax ID: 20171210001900, 20170110001800, 21163340002900

Legal Description:
Resurvey of T.21N., R.116W., 6 th P.M., Lincoln County, Wyoming.
All of Tract 78, being 40.38 acres more or less.

Section 1 of the Resurvey of T.20N., R.117W., 6 th P.M., Lincoln County, Wyoming.
a)
All of the SE1/4SW1/4 being 40.11 acres.
All of the SW1/4Se1/4 being 40.18 acres.
All of Lot 9 being 20.44 acres.

b)
All of Lot 8 of Section 1 of the Resurvey of T.20N., R.117W., 6 th P.M., Lincoln County, Wyoming except the following;
I.
N1/2NE1/4, of said Lot 8 as described and recorded in QCD to H.L. Martin in book 186PR on page 321 on file in the Lincoln County Clerk’s Office in Kemmerer, Wyoming and being 1.91 acres more or less.
II.
S1/2NW1/4 of said Lot 8 as described and recorded in QCD to Ernie Mecca in book 186PR on page 320 on file in the Lincoln County Clerk’s Office in Kemmerer, Wyoming and being 1.93 acres more or less.
III.
NW1/4SE1/4 of said Lot 8 as described and recorded in QCD to Dennis C. Miller in book 204PR on page 546 on file in the Lincoln County Clerk’s Office in Kemmerer, Wyoming and being 0.96 acres more or less.
The remnant of said Lot 8 being 10.60 acres more or less.

c)
The N1/2 of Lot 10, being 10.29 acres more or less.

d)
Part of the NW1/4SW1/4 and the SW1/4SW1/4 of Section 1 of the Resurvey of T.20N., R.117W., 6 th P.M., Lincoln County, Wyoming being more particularly described as follows.

Commencing at the common 1/4 th corner of Sections 1 and 12 of the resurvey of T.20N., R.117W., 6 th P.M., Lincoln County, Wyoming where is found a standard USGLO brass cap monument and from which the monumented common corner of Section 1,2,11 and 12 of said resurvey bears S89°22’00”W, 2641.73 feet and being monumented a standard USGLO brass cap. Thence S89°22’07”W, 1320.86 feet to the Point of Beginning. Said point being the W 1/16 th corner of Sections 1 and 12 and being monumented by a 3” diameter aluminum survey cap on 3/4 inch diameter rebar and being stamped “Uinta Engineering & Surveying, RLS 482” with other appropriate markings. Said 3 inch aluminum cap monument hereinafter referred to as a 3” UES ACM. Thence S89°21’53”W along the monumented common boundary line between said Sections 1 and 12 a distance of 159.56 feet to a point being monumented by a 2 inch aluminum cap monument on 5/8” diameter rebar with the cap stamped “PELS 5465” and other appropriate markings. Said 2 inch aluminum cap monument hereinafter known as a 2” CCI ACM.

Thence N0°32’05”E, 820.01 feet to a point where is found a 2” CCI ACM;

Thence N77°01’50”W, 649.91 feet to a point where is found a 2” CCI ACM;

Thence N89°30’38”W, a distance of 526.37 feet to a point on the monumented west boundary line of said Section 1 where is found a 2” CCI ACM. Said point bears N0°32’11”E, 983.25 feet from said common corner monument of Sections 1, 2, 11 and 12;

Thence N0°32’11”E, a distance of 337.46 feet to the monumented S 1/16 th corner of Section 1 and 2 where is found a 3” UES ACM.

Thence N0°32’52”E, a distance of 660.05 feet to the monumented N-S 1/64 th corner of Section 1 and 2 where is found a 3” UES ACM. Said point being a point on the south boundary of that parcel of land, hereinafter known as the PacifiCorp Parcel, as described and recorded in Book 338PR on Page 458 on file in the Office of the Clerk of Lincoln County, in Kemmerer, Wyoming, and from which the W 1/4 th corner of said Section 1 bears N00°32’29” E, 660.65 feet where is found a 3” diameter aluminum survey cap on 2 ½ inch diameter aluminum pipe stamped “Crank Companies, Inc., PELS 5465” with other appropriate markings. The following course being along the southerly boundary of said PacifiCorp Parcel.


18



Thence N89°09’48”E a distance of 1318.81 feet to a point where is found a 2” CCI ACM. Said point being a point on the west boundary of a parcel conveyed to Utah Power and Light Company as described and recorded in Book 116PR on Page 449 on file in the Office of the Clerk of Lincoln County, in Kemmerer, Wyoming,

Thence S00°28’37”W along the west boundary of said Utah power and Light Company Parcel a distance of 662.68 feet to the SW 1/16 th corner of said Section 1 where is found a 3” UES ACM;

Thence S00°28’42”W a distance of 1322.67 feet to the point of beginning.

Said parcel containing 35.19 acres more or less.

Part of the N1/2N1/2 of Section 12 of the Resurvey of T.20N., R.117W., 6 th P.M., Lincoln County, Wyoming being more particularly described as follows.

Beginning at the common 1/4 th corner of Sections 1 and 12 of the resurvey of T.20N., R.117W., 6 th P.M., Lincoln County, Wyoming where is found a standard USGLO brass cap monument and from which the common corner of Sections 1,2,11 and 12 of said resurvey bears S89°22’00”W, 2641.72 feet and being monumented with a standard USGLO brass cap. Thence N89°09’19”E, along the monumented common boundary line between said Sections 1 and 12, a distance of 1323.33 feet to the E 1/16 th corner of said Sections 1 and 12 where is found a 3 inch aluminum cap monument on 2 ½ inch diameter aluminum pipe stamped “PELS 5465” with other appropriate markings;

Thence S0°16’13”W along the extension of the monumented west boundary line of Lot 10 of said Section 1 south into said Section 12, 209.86 feet to the intersection of the north right of way boundary of Lincoln County Road 12-304 (Elkol Road) where is found a 2” CCI ACM. Said County Road right of way being described and recorded as receiving instrument number 949696 in the County Road Files for Lincoln County Road 12-304 in the Lincoln County Clerk’s Office in Kemmerer, Wyoming.

Thence S56°02’53”W along the northerly right of way boundary of said Lincoln County Road 12-304, 1370.05 feet to a point where is found a 2” CCI ACM;

Thence S89°22’00”W a distance of 1675.10 to a point where is found a 2” CCI ACM;

Thence N0°32’05”E a distance of 957.75 to a point on the monumented north boundary line of said Section 12 and where is found a 2” CCI ACM;

Thence N89°21’53”E along the monumented north boundary line of said Section 12, a distance of 159.56 feet to the W 1/16 th corner of said Sections 1 and 12 where is found a 3” diameter aluminum survey cap on 3/4 inch diameter rebar and being stamped “Uinta Engineering & Surveying, RLS 482” with other appropriate marking. The common corner of Sections 1, 2, 11 and 12 bears S89°21’53”W a distance of 1320.87 feet.

Thence N89°22’07”E along the monumented north boundary line of said Section 12, a distance of 1320.86 feet to the point of beginning.

Said parcel containing 51.97acres more or less.

Naughton Plant - Oakley Pumping
Parcel #: WYLY-0049
County and State: Sweetwater, Wyoming
Tax ID: 21163540036000

Legal Description:
A parcel of land being part of the southerly portion of Tract 107 (in Section 35) of the Resurvey of T.21N., R.116W., 6 th P.M., Lincoln County, Wyoming and being an unplatted portion of the City of Kemmerer, Wyoming being more particularly described as follows.

Commencing at the southerly 1/4 th corner of Section 35 of the resurvey of T.21N., R.116W., 6 th P.M., Lincoln County, Wyoming where is found a standard USGLO brass cap monument; Thence S89°56’53”E, along the monumented south boundary line of said Section 35 and Tract 107 a distance of 978.16 feet to the Point of Beginning. Said point being monumented by a 2 inch aluminum cap monument on 5/8” diameter rebar with the cap stamped “PELS 5465” and other

19



appropriate markings. Said 2 inch aluminum cap monument hereinafter known as a 2” CCI ACM and from which the northeast corner of Section 5 of the Resurvey of T.20N., R.116W., 6 th P.M., Lincoln County, Wyoming bears S89°56’53”E, 1299.38 feet and being monumented by a standard USGLO brass cap.
Thence N13°28’40”W, 34.10 feet to a point;
Thence N09°23’07”E, 1111.18 feet to the common corner of parcels to be known as KS-12, KS-18 and KS-19;
Thence N55°28’38”E, 1189.02 feet along the common boundary lines of parcels to be known as Parcels KS-12 and KS-19 to the common west corner of Parcels KD 2 and KD 3 as identified on the Record of Survey map for “The Pittsburg and Midway Coal Mining Co., K D Parcels” as recorded in the Lincoln County Clerk’s Office in Kemmerer, Wyoming as receiving instrument number 922290. Said point being monumented by a 2” CCI ACM.
Thence S00°03’50”W, 1804.38 feet (S00°04’”W, 1804.08 feet record) along the west boundary line of said Parcel KD 3 to the southwest corner of said Parcel KD 3 where is found a 2” CCI ACM and from which the northeast corner of Section 5 of the Resurvey of T.20N., R.116W., of the 6 th P.M., Lincoln County, Wyoming bears S89°56’53”E, 148.50 feet and where is found a standard USGLO brass cap.
Thence N89°56’53”W, 1150.88 feet along the monumented south boundary line of said Section 35 and Tract 107 to the point of beginning.
Said parcel contains 35.37 acres more or less.
Subject to easements, reservations and restrictions of record or in use.

Jim Bridger Landfill
Parcel #: WYSW-0050
County and State: Sweetwater, Wyoming
Tax ID:  NA

Legal Description:
T. 21 N., R. 101 W., Section 24, NW/4SW/4, W/2NE/4SW/4, 6 th PM, Sweetwater County, WY
Said parcel contains 60 acres more or less.

Purgatory Flat Transmission
Parcel #: UTWN0085
County and State: Washington, Utah
Tax ID: 4115-F-HV

Legal Description:
Acreage: 6.67 acres

A portion of the Northeast quarter of the Northeast quarter of Section 9, Township 42 South, Rang 14 West, Salt lake Meridian, located in Washington County, Utah and described as follows:
Beginning at the Northeast corner of said Section 9, thence South 0ᵒ05’00” West 877.28 feet along the east line of said Section 9; thence North 89ᵒ53’46” West 295.14 feet; thence North 0ᵒ06’23” East 533.36 feet; thence North 27ᵒ29’09” West 390.79 feet to the north line of said Section 9; thence South 89ᵒ36’10” East 475.80 feet along said north line to the point of beginning.
Containing: 6.67 acres, more or less.

Pintura Substation
Parcel #: UTIR0059
County and State: Iron, Utah
Tax ID: E-0615-0002-0000

Legal Description
Acreage: 4.5822 acres
 
A parcel of land in fee being part of an entire tract of property, situate in the Southwest Quarter of the Northeast Quarter (SW1/4NE1/4) of Section 12, Township 35 South, Range 13 West, Salt lake Base and Meridian, in Iron County, Utah. The boundaries of said parcel of land are described as follows:

20



Beginning 1,325.00 feet North 89ᵒ10’07” West along the East-West Quarter Section line and 82.67 feet North from the East Quarter corner of Section12; and running thence North 30ᵒ27’22” West 370.00 feet; thence North 59ᵒ32’38” East 274.00 feet; thence North 30ᵒ27’22” West 180.00 feet; thence North 59ᵒ32’38” East 40.00 feet; thence South 30ᵒ27”22” East 180.00 feet; thence North 59ᵒ32’38” East 206.00 feet; thence South 30ᵒ27’22” East 370.00 feet; thence South 59ᵒ32’38” West 520.00 feet to the point of beginning.
The above described parcel of land contains 199.600 square feet in area or 4.5822 acres, more or less.

Westwood Substation
Parcel #: IDJI-0019
County and State: Jefferson, Idaho
Tax ID: RP04N39E326000

Legal Description:
Acreage: 1.15 acres total

A parcel of land situate in the southwest ¼ of the southwest ¼ of Section 32, T. 4 N., R. 39 E., B.M., Jefferson county, Idaho, being more particularly described as follows:

Beginning on the north right of way line of 145 North Street at a point N.0°43'24"E. 22.0 feet along the section line and S.89°29'23"E. 26.0 feet, more or less, from the southwest corner of said section 32; and running thence S.89°29'23"E. 250.0 feet, more or less, along said right of way line; thence N.0°43'24"E. 200.00 feet, more or less; thence N.89°29'23"W. 250.00 feet, more or less, to the east right of way line of Graham Road; thence S.0°43'24"W. 200.00 feet, more or less, along said right of way line to the point of beginning, being on said land, containing 50,000.0 sq. ft. or 1.15 acres, more or less.

Rock Springs Tech Ops Buildings and Land
Parcel #: WYSW0051
County and State: Sweetwater, Wyoming
Tax ID: Lots 1, 2, and 5 in Block 14 of the Mountainaire subdivision, Fifth Section.

Legal Description:
Acreage: 2.07 acres

Lots 1, 2, and 5 in Block 14 of the Mountainaire subdivision, Fifth Section and being in Section 9, T. 19 N., R. 105 W., of the 6 th P.M.
Ivins Substation Expansion
Parcel #: UTWN-0057
County and State: Washington, Utah
Tax ID: I-SB-24-A-1-A

Legal Description:
Acreage: 0.21 acre additional

A parcel of land situate in Lot 5, Block 13, Santa Clara Bench Irrigation Survey and in the NE ¼ of the NW ¼ of Section 5, T. 42 S., R. 16 W.,S. L. M., described as follows:
Beginning at the southeast corner of the Grantor’s land said southeast corner being the southeast corner of Lot 5, Santa Clara Bench Irrigation Survey, said point also being 683 feet south and 708 feet west, more or less, from the north one quarter corner of Section 5, T. 42 S., R. 16 W.,S. L. M.; and running thence N.89°38’49”W. 182.00 feet, more or less, along the south boundary line of said Grantor’s land; thence N.1°11’21”E. 50.12 feet, more or less, to the south boundary line of an existing Rocky Mountain Power Substation; thence S.89°38’39”E. 182.00 feet, more or less along said boundary line to the east boundary line of the Grantor’s land; thence S.1°11’21”W. 50.12 feet along said east boundary line to the point of beginning, being in said Lot  5, and in the NE ¼ of the NW ¼ of said Section 5; containing 9,121.22 sq. ft. or 0.21 of an acre, more or less.

American Fork Service Center additional property
Internal Parcel Number: UTUT-0276
County and State: Utah, Utah
County Tax ID No. 20290020


21



Legal Description:
Acres: 0.120

Beginning at the Southwest Corner of the Grantor’s land South 89ᵒ 59’ 00” East 262.64 feet from the Southwest Corner of Block 16, Plat “A”, American Fork City Survey, and running thence North 108.01 feet along a West boundary line of said Grantor’s land; thence South 89ᵒ 59’ 00” East 49.53 feet; thence South 108.01 feet to the South boundary line of the Grantor’s land; thence North 89ᵒ 59’ 00” West 49.53 feet along said South boundary line to the point of beginning and being in the Northwest Quarter of the Northwest Quarter of Section 24, Township 5 South, Range 1 East, Salt Lake Base and Meridian.

Terminal-Camp Williams 345kV property exchange
Internal Parcel No: UTSL-0724
County and State: Salt Lake
County Tax I.D. No: 33-22-100-007-0000; 33-22-200-029-0000; 33-22-400-020-0000

Legal Description:
Acres: 3.65

Parcel 1:
Beginning at the center of Section 22, Township 4 South, Range 1 West, Salt Lake Base and Meridian (said center of Section being North along the section line 2619.39 feet from the South quarter corner of said Section 22) and running thence North 45.00 feet; thence South 70º 24’ 00” West 76.83 feet; thence North 31º 35’ 54” West 61.34 feet; thence North 70º 24’ 00” East 110.94 feet; thence North 144.06 feet; thecne South 31º 35’ 54” East 297.85 feet; thence 89º 39’ 19” West 156.06 feet to the point of beginning.

Parcel 2:
Beginning at a point being South 488.23 feet along the secion line and East 455.82 feet from the center of Section 22, Township 4 South, Range 1 West, Salt Lake Base and Meridian (said center of Section being North along the secion line 2619.39 feet from the South quarter corner of said Section 22), and running thence South 31º 35’ 54” East 973.00 feet; thence North 89º 34’ 05” West 217.04 feet; thence North 31º 35’ 54” West 459.65 feet; thence North 06º 58’ 00” West 438.69 feet to the point of beginning.

Parcel 3:
Beginning at a point being South 97.41 feet along the section line from the center of Section 22, Township 4 South, Range 1 West, Salt lake Base and Meridian (said center of said Section 22), and running thence South 32º 01’ 00” East 12.55 feet; thence South 06º 48’ 00” East 12.55 feet; thence North 31º 35’ 54” West 659.15 feet; thence North 1.01 feet to the point of beginning.

ONEIDA HE PLANT AND SUBSTATION - PROJECT
Parcel #: IDFI-0037
County and State: Franklin, Idaho
Tax ID: Multiple (see below)

Legal Description:
Acreage: 359.48 as surveyed (previously reported as 328.70)

ASSESSOR PARCEL NUMBER RP00575.00 (SMITH PARCEL COMBINED WITH COMM SITE):

The West Half of the Southwest Quarter (W1hSW/t+) Section 24, Township 13 South, Range 40 East, Boise Meridian, located in the County of Franklin, State of Idaho.

CONTAINING: 79.93 Acres, more or less.


ASSESSOR PARCEL NUMBER RP00576.00:

That portion of the Northwest Quarter of the Northwest Quarter (NW }4NW1/t+) of Section 25, Township 13 South, Range 40 East, Boise Meridian, located in the County of Franklin, State of Idaho, described as follows:

BEGINNING at the Northwest Corner of said Section 25; thence North 89° 30' 26" East 1,307.68 feet along the

22



section line to the west sixteenth line of said Section 25; thence South 00° 09' 34" East 918.81 feet along said sixteenth line to an existing ancient fence; thence generally along said ancient fence the following four (4) courses: 1) North 89° 21' 09" West 329.99 feet; 2) South 80° 09' 35" West 358.59 feet; 3) South 62° 08 '35" West
660.20 feet; 4) South 70° 57' 01" West 45.79 feet to the west line of said Section 25; thence
North 00° 00' 11" East 1,288.55 feet along said west line to the POINT OF BEGINNING. CONTAINING: 30.85 Acres, more or less.

ASSESSOR PARCEL NUMBER RP00583.00 :

That portion of the Northeast Quarter of the Southeast Quarter (NE }4SE}4) of Section 26, Township 13 South, Range 40 East, Boise Meridian, located in the County of Franklin, State of Idaho, and described as follows:

COMMENCING at the East Quarter Corner of said Section 26; thence North 89°06'47" West 587.35 feet along the center quarter line to the northeasterly extension of an existing ancient fence and the POINT OF BEGINNING; thence generally along said fence the following three courses: 1) South 62° 30' 51" West 605.17 feet; 2) South 18° 43' 58" West 433.97 feet; 3) thence South 22° 45' 20" West 133.86 feet to the east sixteenth line; thence along said sixteenth line North 00° 00' 08" East 825.00 feet along said sixteenth line to said center quarter line; thence South 89° 06' 47" East 728.07 feet along said center quarter line to the POINT OF BEGINNING;

ALONG WITH that portion of the West Half of the East Half (W1hE1h) of Section 26, Township 13 South, Range 40 East, Boise Meridian, located in the County of Franklin, State of Idaho, and described as follows:

BEGINNING at the South Quarter Corner of said Section 26; thence North 00°00'05" East 1,943.66 feet along the quarter section line to the Northwest corner of the Southwest Quarter of the Northwest Quarter of the Southeast Quarter (SW%NW%SE%); thence South 89°23'27" East 657.66 feet along the North line of said Southwest Quarter of the Northwest Quarter of the Southeast Quarter to the Southwest corner of the Northeast Quarter of the Northwest Quarter of the Southeast Quarter (NE%NW%SE%); thence North 00°00'06" East 1,307.96 feet along the West line of said Northeast Quarter of the Northwest Quarter of the Southeast Quarter and the West line of the Southeast Quarter of the Southwest Quarter of the Northeast Quarter (SE%SW%NE%);thence South 89°08'02" East 657.71 feet along the North line of said Southeast Quarter of the Southwest Quarter of the Northeast Quarter to the Northeast corner of said Southeast Quarter of the Southwest Quarter of the Northeast Quarter; thence South 00°00'08" West 1,329.31 feet along the East line of said Southeast Quarter of the Southwest Quarter of the Northeast Quarter (SE%SW%NE%) and the East line of the Northeast Quarter of the Northwest Quarter of the Southeast Quarter (NE%NW%SE%) of said Section 26 to an existing ancient fence; thence generally along said ancient fence the following nine (9) courses: 1) South 58°51'06" West 843.64 feet; 2) South 08°08'30" West 392.01 feet; 3) South 48°12'09 11 East 319.88 feet; 4) South 08°33'04 11 West 150.44 feet; 5) South 31°48'37 11 West 179.07 feet; 6) South 48°34'59 11 East 294.31 feet; 7) South 65°18'40 11 East 298.25 feet; 8) South 08°08'25 11 East 185.47 feet; 9) South 49°24'21 11 West 91.58 feet to the South line of said Section 26; thence South 89°46'32 11 West 1,107.91 feet along said south line to the POINT OF BEGINNING.
CONTAINING IN TOTAL: 60.69 Acres, more or less.


ASSESSOR PARCEL NUMBER RP00614.00 :

That portion of the East Half of Section 35, Township 13 South, Range 40 East, Boise Meridian, located in the County of Franklin, State of Idaho, and described as follows:

BEGINNING at the South Quarter Corner of said Section 35; thence North 00°01'16 11 East 5399.19 feet along the quarter section line of said Section 35 to the North Quarter Corner of said Section 35; thence North 89°46'32 11 East 1,107.91 feet along the North line of said Section 35 to an existing ancient fence; thence generally along said ancient fence in a southerly direction the following thirty-two (32) courses: 1) South 49°24'21 11 West 81.90 feet; 2) South 32°43'55 11 East 95.76 feet; 3) South 68°33'17 11 West 188 . 95 feet; 4) South 58°04'53 11 West 75.64 feet; 5) South 33°58'40 11 West 77.30 feet; 6) South 01°58'29 11 East 56.61 feet; 7) South 19°03'38 11 East 55.82 feet; 8) South 29°05'34 11 East 373.60 feet; 9) South 08°25'48 11 West 502.17 feet; 10) South 04°36'15 11 West 200.62 feet; 11) South 48°46'27 11 East 574.67 feet; 12) South 05°29'31 11 West 57.37 feet; 13) South 74°33'59 11 West 435.78

23



feet; 14) South 66°00'36 11 West 405.70 feet; 15) South 33°52'28 11 West 188.25 feet;16) South 01°51'59 11 East 520.43 feet; 17) South 66°53'41 11 East 122.99 feet; 18) South 63°21'30 11 East 167.47 feet; 19) South 58°18'27 11 East 189 . 20 feet; 20) South 20°05'01 11 East 205.27 feet; 21) South 23°00'53 11 East 147.31feet;22) South 23°26'58 11 East419.38 feet; 23) North 89°21'07 11 East 104.28 feet; 24) South 32°05'48 11 East 195.62 feet; 25) South 49°45'56 11 East 204.97 feet; 26) South 34°18'55 11 East 213.28 feet; 27) South 12°43'34 11 East 273.33 feet; 28) South 23°11'53 11 West 368.09 feet; 29) South 39°03'31 11 West 246.00 feet; 30) South 61°23'25 11 West 176.77 feet; 31) South 69°23'41 11 West217.23 feet; 32) South 79°13'24 11 West 133.32 feet; thence departing said fence, South 00°00'00 11 West 176.97 feet to the South line of said Section 35; thence South 89°49'43 11 West 950.78 feet to the POINT OF BEGINNING.
CONTAINING: 132.46 Acres, more or less.

ASSESSOR PARCEL NUMBER RP01210.00 :

That portion of the East Half of the Northwest Quarter (E%NWY4) of said Section 2, Township 14 South, Range 40 East, Boise Meridian, located in the County of Franklin, State of Idaho, and described as follows:

COMMENCING at the North Quarter Corner of said Section 2; thence South 89°52'15 11 West 122.92 feet along the section line to and existing ancient fence and the POINT OF BEGINNING; thence along said existing ancient fence the following eleven (11) courses: 1) South 05°40'01 11 East 274.52 feet; 2) South 13°48'27" West 229.75 feet; 3) South 26°12'34" West 129.65 feet; 4) South 44°28'49" West 102.09 feet; 5) South 74°20'56" West 110.72 feet; 6) South 00°33'44 11 East 854.73 feet; 7) South 05°18'44 11 East 67.47 feet; 8) South 13°35'52" East 293.45 feet; 9) South 42°16'52 11 West 730.91 feet; 10) North 88°57'13" West 14.46 feet; 11) South 34°06'1 O" West 213.96 feet to the East-West quarter section line; thence South 89°54'1O" West 378.20 feet along said quarter section line to the Center-West Sixteenth Corner of said Section 2; thence North 00°18'23" West 2,638.06 feet along the West line of said East Half of the Northwest Quarter (E%NWY4) of Section 2 to the North Line of said Section 2; thence North 89°52'15" East 1,197.97 feet to the POINT OF BEGINNING.

CONTAINING: 55.55 Acres, more or less.

ASHTON HE PLANT, SUBSTATION AND OFFICE
Parcel #: IDFT-0033
County and State: Fremont, Idaho
Tax ID: RP09N42E211950

Legal Description:
Acreage: 21.810

All of that portion of Government Lot 2 of Section 15, Township 9 North, Range 42 East, Boise Meridian, located in the County of Fremont, State of Idaho.

ASHTON HE PLANT, SUBSTATION AND OFFICE
Parcel #: IDFT-0034
County and State: Fremont, Idaho
Tax ID: RP09N42E158550

Legal Description:
Acreage: 4.0

All of that portion of Government Lot 1 of Section 21, Township 9 North, Range 42 East, Boise Meridian, located in the County of Fremont, State of Idaho.




24



IN WITNESS WHEREOF, PACIFICORP has caused its corporate name to be hereunto affixed, and this instrument to be signed and sealed by an Authorized Executive Officer of the Company, and its corporate seal to be attested to by its Assistant Secretary for and in its behalf, and The Bank of New York Mellon Trust Company, N.A. has caused its corporate name to be hereunto affixed, and this instrument to be signed and sealed by one of its Vice Presidents, and its corporate seal to be attested to by one of its Vice Presidents, all as of the day and year first above written.

 

[S EAL ]
 
 
P ACIFI C ORP  


 
 
By
 /s/ Ryan Weems
 
 
 
 
 
 
 
 
 
Ryan Weems
Vice President, and Assistant Treasurer
Attest:
 /s/ Jeffery B. Erb
 
 
 
 
 
 
 
 
 
Jeffery B. Erb
Secretary  
 
 
 

[S EAL ]
 
 
 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. , as trustee
 
 
 
By
/s/ Karen Yu
 
 
 
 
 
 
 
 
 
Karen Yu
Vice President
Attest:
/s/ Mark A. Golder
 
 
 
 
Mark A. Golder
Vice President
 
 
 
 
 
 
 
 
 
 


 






STATE OF OREGON
)
 
)
COUNTY OF MULTNOMAH
) SS.:
 
On this ____ day of July, 2018, before me, _________________________________, a Notary Public in and for the State of Oregon, personally appeared Ryan Weems and Jeffery Erb, known to me to be Vice President and Assistant Treasurer and Secretary, respectively, of PACIFICORP, an Oregon corporation, who being duly sworn, stated that the seal affixed to the foregoing instrument is the corporate seal of said corporation and acknowledged this instrument to be the free, voluntary, and in all respects duly and properly authorized act and deed of said corporation.

IN WITNESS WHEREOF, I have hereunto set my hand and official seal the day and year first above written.

 

[SEAL]
 
 
 
 
 
 
 
 


 
 
 
 
Notary Public, State of Oregon
 
 

ACKNOWLEDGMENT

A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.
State of California
County of _____________________________)
On _________________________ before me, ___________________________________
(insert name and title of the officer)
personally appeared ________________________________________________________,
who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.



Signature_____________________________     (Seal)



Exhibit 5.1


 
July 13, 2018



PacifiCorp
825 N.E. Multnomah Street
Portland, Oregon 97232

Re:
PacifiCorp’s $600,000,000 4.125% Series First Mortgage Bonds Due 2049

Ladies and Gentlemen:
We have acted as special counsel to PacifiCorp, an Oregon corporation (the “Company”), in connection with the registration under the Securities Act of 1933, as amended (the “Securities Act”) and the rules and regulations promulgated thereunder (the “Rules”) of $600,000,000 in aggregate principal amount of the Company’s 4.125% Series First Mortgage Bonds Due 2049 (the “Bonds”) pursuant to a registration statement on Form S-3 (333-207687) (the “Registration Statement”), the prospectus contained therein (the “Prospectus”) and the supplement to the Prospectus dated July 10, 2018 (the “Prospectus Supplement”). The Bonds will be issued pursuant to the Mortgage and Deed of Trust, dated as of January 9, 1989, between the Company and The Bank of New York Mellon Trust Company, N.A. (the “Trustee”), as successor trustee, as heretofore amended and supplemented (the “Mortgage”), as supplemented by the Twenty-Ninth Supplemental Indenture dated as of July 1, 2018 between the Company and the Trustee (the “Supplemental Indenture”), and sold by the Company pursuant to the Underwriting Agreement, dated July 10, 2018, among the Company, Mizuho Securities USA LLC, MUFG Securities Americas Inc., PNC Capital Markets LLC, Scotia Capital (USA) Inc., and SMBC Nikko Securities America, Inc., as representatives of the several underwriters named therein (the “Underwriting Agreement”).
In our capacity as counsel to the Company, we have examined (a) the Registration Statement, (b) the Mortgage and the Supplemental Indenture, (c) the form of Bonds attached to the Supplemental Indenture, (d) the Underwriting Agreement and (e) originals, or copies identified to our satisfaction, of such corporate records and corporate actions of the Company, certificates of public officials, officers of the Company and other persons, and such other documents, agreements and instruments as we have deemed necessary for purposes of this opinion. In our examination, we have assumed the authenticity of all documents submitted to us as originals, the conformity with the originals of all documents submitted to us as copies, the genuineness of the signatures of persons signing all documents, the persons identified as officers of the Company are serving as such and, as to factual matters, the truth, accuracy and completeness of the information, representations and warranties contained in the Registration Statement, the Underwriting Agreement and such other documents, agreements and instruments.

Based upon and subject to the foregoing and the other assumptions, exclusions and qualifications in this letter, we are of the opinion that when the Bonds have been duly executed by the Company and authenticated by the Trustee in accordance with the Mortgage and the Supplemental Indenture and delivered to and paid for by the purchasers thereof pursuant to the Underwriting Agreement and as contemplated by the Registration Statement and the Prospectus Supplement, the Bonds will constitute binding obligations of the Company.






The foregoing opinions are subject to the following exclusions and qualifications:

a.      Our opinions are as of the date hereof and we have no responsibility to update this opinion for events and circumstances occurring after the date hereof or as to facts relating to prior events that are subsequently brought to our attention. This opinion is limited to the laws, including the Rules, as in effect on the date hereof, and we disavow any undertaking to advise you of any changes in law.

b.      We express no opinion as to the enforceability of any right or obligation to the extent such right or obligation is subject to and limited by (i) the applicability or effect on the obligations of the Company of bankruptcy, insolvency, reorganization, receivership, conservatorship, arrangement, moratorium, fraudulent transfer or other laws affecting or relating to the rights of creditors generally, (ii) rules governing the availability of specific performance, injunctive relief or other equitable remedies and general principles of equity, regardless of whether arising prior to, or after, the date hereof or considered in a proceeding in equity or at law, (iii) the effect of federal and state securities laws and principles of public policy on the rights of indemnity and contributions, or (iv) the commonly recognized statutory and jurisdictional constraints on enforceability of the obligations of the Company, including statutes of limitation.

c.      We do not express any opinions herein concerning any laws other than the laws in their current forms of the State of Oregon and the State of New York, and we express no opinion with respect to the laws of any other jurisdiction.

We consent to the filing of this opinion as an exhibit to the Registration Statement and to the references to our firm in the Prospectus Supplement under the caption “Legal Matters.” In giving this consent, we do not hereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or related Rules nor do we admit that we are experts with respect to any part of the Registration Statement within the meaning of the term “expert” as used in the Securities Act or related Rules.

Very truly yours,

/s/ Perkins Coie LLP

PERKINS COIE LLP





EXHIBIT 12.1
PACIFICORP
STATEMENTS OF COMPUTATION OF RATIO
OF EARNINGS TO FIXED CHARGES
(DOLLARS IN MILLIONS)

 
 
Three-Month
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended
 
Years Ended December 31,
 
 
March 31, 2018
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings Available for Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations
 
 
 
 
 
 
 
 
 
 
 
 
before income tax expense
 
$
173

 
$
1,128

 
$
1,103

 
$
1,023

 
$
1,007

 
$
979

Fixed charges
 
97

 
386

 
385

 
384

 
384

 
385

Total earnings available for fixed charges
 
$
270

 
$
1,514

 
$
1,488

 
$
1,407

 
$
1,391

 
$
1,364

 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
96

 
$
381

 
$
380

 
$
379

 
$
379

 
$
379

Estimated interest portion of rentals
 
 
 
 
 
 
 
 
 
 
 
 
charged to expense
 
1

 
5

 
5

 
5

 
5

 
6

Total fixed charges
 
$
97

 
$
386

 
$
385

 
$
384

 
$
384

 
$
385

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
2.8x

 
3.9x

 
3.9x

 
3.7x

 
3.6x

 
 3.5x