Slides
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February, 2026 Investors Meeting 3rd Quarter FY2025 Materials for Investors
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Ⅱ Outline of Financial Results for Nine-Months ended December 31, 2025 Summary of Financial Results Summary of Financial Results by Segments Electrical Power Generation [Reference] Image of Time Lag (Result) Summary of Forecast for FY2025 ･････････････02 ･････････････05 ･････････････09 ･････････････10 ･････････････11 ･ ･････････････13 ･････････････14 ･････････････15 ･････････････16 Ⅲ Reference Data: Financial Results Consolidated Statements of Income Consolidated Financial Standing Forecast for FY2025 by Segments Consolidated Financial Indicators Consolidated Ordinary Profit (Loss) and Profit (Loss) Fund Raising and Outstanding Interest-bearing Debt Consolidated Cash Flow Consolidated Financial Ratio and Credit Ratings Consolidated ROA and ROE Consolidated ROIC and Total Shareholders Return (TSR) Key Indicators of Miraiz Monthly Breakdown of Electrical Energy Sold of Miraiz Structure of Power Procured (definite results) Overview of Renewable Energy Business Expansion of Global Business Regional Revitalization through Real Estate Business ････････････17 ････････････18 ････････････19 ････････････20 ････････････21 ･････････22 ････････････23 ････････････24 ････････････25 ････････････26 ････････････27 ････････････29 INDEX Copyright © Chubu Electric Power Co., Inc. All rights reserved. Ⅳ Reference Data: Management InformationⅠ Inappropriate Matters Related to the restart of the Hamaoka Nuclear Power Station ･････････････01
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Inappropriate Matters Related to the restart of the Hamaoka Nuclear Power Station Copyright © Chubu Electric Power Co., Inc. All rights reserved. Ⅰ
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Inappropriate Matters Related to the restart of the Hamaoka Nuclear Power Station 01 • We sincerely apologize for the inappropriate matters related to the restart of the Hamaoka Nuclear Power Station. • Although costs were recorded in response to the inappropriate matters related to the new regulatory requirements compliance review, the consolidated performance forecast and year-end dividend forecast for FY2025, announced on October 28, 2025, remain unchanged. • The fundamental approach to PBR improvement (such as enhancing capital efficiency) for the new plan, which is currently being formulated to begin in FY2026, remains largely unchanged at this point. We will present the new plan after thoroughly assessing the impact on our group's business activities. Summary of the Matter Current Status (as of January 30, 2026) Upcoming Schedule Unsettled Construction Accounts (Press release issued on November 27, 2025) • It was discovered that, for some safety improvement projects, specifications were changed without involving the procurement department, which is responsible for contracts. This led to significant unprocessed payments over a long period due to the lack of formal contract amendments and settlement procedures. • Regarding the unprocessed payments, two executives from the nuclear division failed to report to the board of directors and other relevant parties for an extended period, violating internal regulations. On December 24 last year, a report was submitted to the Minister of Economy, Trade and Industry in response to a report collection request. 【Report Summary】 • 20 projects remain unsettled. All have been properly managed, ensuring construction quality. • Causes and measures to prevent recurrence. • On January 9, an additional order for reporting was received, requesting detailed background and the formulation of effective recurrence prevention measures. Additional response to the Order for reporting METI: Deadline by the end of March 2026 Inappropriate Matters in the Formulation of Standard Seismic Motion (Press release issued on January 5, 2026) • It has been confirmed that there is a suspicion that the selection of representative ground motion was conducted using methods different from those explained by the Company during the review meetings, or through intentional methods. • The Company resolved to establish an independent committee composed solely of external experts ("Third-Party Committee") to ensure transparency and fairness in investigating the facts and causes of the Matter, and considering measures to prevent recurrence. 【Nuclear Regulation Authority】 At the regular meeting on January 14, the following actions were decided: • Issuance of an order for reporting regarding facts and details. • Suspension of review meetings for compliance with new regulatory standards. • Conduct nuclear regulatory inspections to verify compliance with safety regulations. 【Third-Party Committee】 The first committee meeting was held on January 7. 【Response to the Order for reporting】 NRA: Deadline by the end of March 2026 METI: Deadline by April 6, 2026 【Third-Party Committee Report】 Date: To be determined
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Copyright © Chubu Electric Power Co., Inc. All rights reserved. Outline of Financial Results for Nine-Months ended December 31, 2025 Note:The company’s fiscal year (FY) is from April 1 to March 31 of the following year. FY2025 represents the fiscal year begun on April 1, 2025, and ending on March 31, 2026. 3rd Quarter (3Q) represents nine months period ended December 31, 2025. Monetary amounts are rounded down to the nearest whole number of the units being used, while principal figures like electrical energy sold or electric energy output are rounded to the nearest unit. Ⅱ
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Copyright © Chubu Electric Power Co., Inc. All rights reserved. Summary of Financial Results <1> (Note) The number of consolidated subsidiaries ［change from the previous year in parenthesis］ 2025/3Q: 76 subsidiaries (+7 company), 103 affiliates accounted for under the equity method (+18companies) Ordinary profit excluding time lag was previously presented in units of 1 billion yen up to the previous period. From the current period, this has been revised to presentation in units of 100 million yen, including figures for the previous period. <Points of Financial Results> (Consolidated) ■ Operating revenue: 2,566.3 billion yen Operating revenue decreased by 85.2 billion yen compared with 2024/3Q, mainly due to a decrease in fuel cost adjustment charge* (-74.0 billion yen). * including government support for electricity bills ■ Ordinary profit: 240.7 billion yen Following the confirmation of inappropriate matters for the new regulatory requirements compliance review of the Hamaoka Nuclear Power Station, we decided to terminate outsourcing contracts related to review-related work. While we recorded expenses corresponding to work already performed (-11.7 billion yen), this was offset by an increase in time lag gain (6.0 billion yen) and an increase in profits due to fuel procurement impacts in the domestic thermal power business (42.6 billion yen), etc. Consequently, ordinary profit increased by 18.4 billion yen compared with 2024/3Q. ■ Profit attributable to owners of parent: 202.5 billion yen Profit attributable to owners of parent increased by 35.4 billion yen compared with 2024/3Q, mainly due to an increase in ordinary profit. ・Operating revenue decreased for 3 consecutive years since 2023/3Q. ・Ordinary profit increased for the first time in 2 years since 2023/3Q ・We recorded decreased revenues and increased profit for the first time in 2 years since 2023/3Q. 2025/3Q (A) 2024/3Q (B) Change (A-B) (A-B)/B Operating revenue 2,566.3 2,651.6 (85.2) (3.2) Operating profit 168.5 184.1 (15.5) (8.4) Ordinary profit <Ordinary profit excluding time lag> 240.7 <approx. 226.7> 222.2 <approx. 214.2> 18.4 <approx. 12.4> 8.3 <5.8> Profit attributable to owners of parent 202.5 167.1 35.4 21.2 (Billion yen, %) 02
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<Factors contributing to change in consolidated operating revenue> (Operating revenue decreased by 85.2 billion yen) 2,651.6 2,566.3 -74.0 -11.2 24,000 25,000 26,000 27,000 Copyright © Chubu Electric Power Co., Inc. All rights reserved. (Billion yen) 2025/3Q Operating Revenue 2024/3Q Operating Revenue 2,700.0 2,600.0 2,400.0 A decrease in fuel cost adjustment charge, etc.* Others Summary of Financial Results <2> The impact of TOENEC CORPORATION becoming an affiliate rather than a subsidiary in 2024/2Q , etc.2,500.0 * including government support for electricity bills 03
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222.2 240.7 6.0 -12.7 9.5 42.6 -26.9 0 500 1,000 1,500 2,000 2,500 3,000 Copyright © Chubu Electric Power Co., Inc. All rights reserved. 300.0 2025/3Q Ordinary profit An increase in ordinary profit excluding time lag (approx.12.4) 2024/3Q Ordinary profit <Factors contributing to change in consolidated ordinary profit> (Ordinary profit increased by 18.4 billion yen) approx. 214.2 Excluding Time lag approx. 226.7 Excluding Time lag 150.0 Time lag income Miraiz (Excluding time lag) Summary of Financial Results <3> (Billion yen) 100.0 250.0 Power Grid JERA (Excluding time lag) Others (8.0 → 14.0) (122.0 → 109.3) (20.8 → 30.3) (44.1 → 86.7) (27.2 → 0.3) Recording expenses corresponding to work already performed in connection with the termination of contracts for services related to the new regulatory requirements compliance review of the Hamaoka Nuclear Power Station (-11.7), etc. 200.0 50.0 Fuel Procurement Impact(Domestic thermal power business), etc. 04
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Copyright © Chubu Electric Power Co., Inc. All rights reserved. 2025/3Q (A) 2024/3Q (B) Change (A-B) (A-B)/B Operating revenue Miraiz 2,115.3 2,142.6 (27.2) (1.3) Power Grid 675.1 684.1 (8.9) (1.3) Other (*1) 494.7 553.4 (58.6) (10.6) Adjustment (718.9) (728.5) 9.6 (1.3) Total 2,566.3 2,651.6 (85.2) (3.2) Ordinary profit Miraiz 111.3 114.0 (2.7) (2.4) Power Grid 30.3 20.8 9.5 45.8 JERA (*2) 98.7 60.1 38.6 64.2 Other (*1) 113.9 62.6 51.2 81.8 (Repost) Real Estate Business(*3) 11.1 Adjustment (113.5) (35.4) (78.1) 220.8 Total 240.7 222.2 18.4 8.3 (Billion yen, %) *1 “Other” is business segment that is not reporting segments and includes Renewable Energy Company, Business Development Division, Global Business Division, Real Estate Business Division, Nuclear Power Division, administrative division, and other affiliated companies. *2 JERA is the affiliate accounted for under the equity method so that JERA’s operating revenues aren’t recorded. *3 The Real Estate Business Division was established on April 1, 2025. (Note) Each segment is stated before eliminating internal transactions. Summary of Financial Results by Segments <1> 05
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114.0 111.3 10.0 7.4 -3.4 -16.7 0 200 400 600 800 1,000 1,200 1,400 1,600 （Billion yen） Copyright © Chubu Electric Power Co., Inc. All rights reserved. A decrease in ordinary profit excluding time lag (approx. -12.7) Electrical Energy Sold to other companies 15.0 14.9 0.1 0.5 Electrical Energy Sold including group companies 88.6 85.9 2.7 3.1 2025/3Q (A) 2024/3Q (B) Change (A-B) (A-B)/B Low voltage 20.7 21.1 (0.4) (1.9) High voltage・ Extra-high voltage 59.8 57.9 1.9 3.2 Total 80.5 79.1 1.5 1.8 <Electrical Energy Sold> (TWh,%) [Reference] * Electrical Energy Sold including group companies is the total of Miraiz, its consolidated subsidiaries, and affiliates accounted for under the equity method. * Electricity Energy Sold to other companies excludes electrical energy sold to Miraiz’s consolidated subsidiaries and affiliates accounted for under the equity method. * The amount of Electrical Energy Sold to other companies is the amount of electric energy we know as of the end of period. * Ordinary profit excluding time lag was previously presented in units of 1 billion yen up to the previous period. From the current period, this has been revised to presentation in units of 100 million yen, including figures for the previous period. Competitive impacts in sales <approx. +0.9> Impacts of temperature and market, etc. <approx. +0.6> <Factors contributing to change in Ordinary profit> ■ Ordinary profit decreased by 2.7 billion yen compared with 2024/3Q, mainly due to increased fixed power costs, the reaction to the previous year's abundant rainfall although there were cost reductions due to the restructuring of the power procurement portfolio. [Reference] Ordinary profit excluding time lag: Approx. 109.3 billion yen (decreased by approx. 12.7 billion yen compared with 2024/3Q) approx. 109.3 Excluding Time lag Reaction to the previous year's abundant rainfall, etc. 160.0 140.0 40.0 Time lag income (-8.0 → 2.0) Impact of restructuring the power procurement portfolio Increased fixed power costs Others 2025/3Q Ordinary profit Summary of Financial Results by Segments <2>: Miraiz 120.0 100.0100.0 80.0 60.0 20.0 2024/3Q Ordinary profit approx. 122.0 Excluding Time lag 06
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20.8 30.3 1.0 10.9 -5.6 3.1 0 50 100 150 200 250 300 350 (TWh,%) <Energy demand in Chubu region> Copyright © Chubu Electric Power Co., Inc. All rights reserved. (Billion yen) <Factors contributing to change in Ordinary profit> Ordinary profit increased by 9.5 billion yen compared with 2024/3Q, mainly due to an increase in transmission revenue by an increase in energy demand in Chubu region and a decrease in supply and demand adjustment costs in spite of an increase in equipment-related expenses, etc.. 2024/3Q Ordinary profit 2025/3Q Ordinary profit 35.0 30.0 6.0 An increase in transmission revenue by an increase in energy demand in Chubu region A decrease in supply and demand adjustment costs Others 2025/3Q (A) 2024/3Q (B) Change (A-B) (A-B)/B Low voltage 27.1 27.0 0.1 0.2 High voltage・ Extra-high voltage 64.0 63.9 0.1 0.1 Total 91.1 90.9 0.1 0.2 Summary of Financial Results by Segments <3>: Power Grid 25.0 20.0 15.0 10.0 5.0 An increase in equipment-related expenses, etc. 07
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60.1 98.7 -4.0 -0.2 10.3 32.5 0 200 400 600 800 1,000 1,200 *CIF crude oil price for 2025/3Q is tentative. <CIF price, FX rate> [Reference] JERA consolidated profit (Billion yen) Copyright © Chubu Electric Power Co., Inc. All rights reserved. (Billion yen) <Factors contributing to change in Ordinary profit> Ordinary profit increased by 38.6 billion yen compared with 2024/3Q, mainly due to an increase in profits in fuel procurement impact and an increase in profits from overseas and renewable energy power generation businesses, etc. [Reference] Ordinary profit excluding time lag: Approx. 86.7 billion yen (increased by approx. 42.6 billion yen compared with 2024/3Q) 2025/3Q Ordinary profit 2024/3Q Ordinary profit Time lag Income 120.0 80.0 40.0 20.0 (16.0 → 12.0) Fuel procurement impact (Domestic thermal power business) Fuel Business Others Increase in profits from overseas and renewable energy power generation businesses, etc. approx. 44.1 Excluding Time lag approx. 86.7 Excluding Time lag 2025/3Q (A) 2024/3Q (B) Change (A-B) CIF price: crude oil ($/b) 72.9 83.7 (10.8) FX rate (interbank) (yen/$) 148.7 152.6 (3.9) 2025/3Q (A) 2024/3Q (B) Change (A-B) Profit <Profit excluding time lag> 202.3 <approx. 177.8> 154.7 <approx. 122.7> 47.5 <(approx. 55.0)> Summary of Financial Results by Segments <4>: JERA 100.0 60.0 40.0 * Ordinary profit excluding time lag was previously presented in units of 1 billion yen up to the previous period. From the current period, this has been revised to presentation in units of 100 million yen, including figures for the previous period. An increase in ordinary profit excluding time lag (approx. 42.6) 08
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Copyright © Chubu Electric Power Co., Inc. All rights reserved. <Electrical Power Generation> (Chubu Electric Power) ■ Hydro Decreased by 0.5 TWh since the flow rate was lower than 2024/3Q ■ Renewable energy Same as 2024/3Q (TWh,%) 2025/3Q (A) 2024/3Q (B) Change (A-B) (A-B)/B Hydro <flow rate> 7.5 <95.2> 7.9 <110.2> (0.5) <(15.0)> (5.9) Nuclear <utilization rate> - <-> - <-> - <-> - Renewable energy 0.3 0.3 0.0 2.6 Total 7.8 8.2 (0.5) (5.6) Electrical Power Generation 09
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Copyright © Chubu Electric Power Co., Inc. All rights reserved. * The amount is the total of the time-lag income and loss incurred at JERA and Miraiz. (Billion yen) [Reference] Image of Time Lag (Result) ＜2024/3Q＞ ＜2025/3Q＞ 2024/4 2025/1 2025/4 2026/1 2026/4 収益の諸元 （燃料調達からのタイムラグ） 費用の諸元 （燃料調達） Income 8.0 Income 14.0 Elements of income (time lag from fuel procurement) Elements of cost (fuel procurement) 10
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Copyright © Chubu Electric Power Co., Inc. All rights reserved. (Billion yen, %) (Billion yen, %) <Forecast> (Consolidated) Forecast has not been revised from the previous announcement made on October 28, 2025. Consolidated operating revenue: 3,550.0 billion yen (forecast) Consolidated ordinary profit: 230.0 billion yen (forecast) ［Reference］Year-on-year ･ Operating revenue will decrease for the first time in 2 years since FY2023. ･ Ordinary profit will decrease for 2 consecutive years since FY2024. ･ We will record decreased revenue and decreased profit for the first time in 4years since FY2021. Current (A) October 28 (B) Change (A-B) (A-B)/B Operating revenue 3,550.0 3,550.0 - - Ordinary profit <Ordinary profit excluding time lag> 230.0 <approx. 210.0> 230.0 <approx. 210.0> - - Profit attributable to owners of parent 185.0 185.0 - - Current (A) FY2024 (Result) (B) Change (A-B) (A-B)/B Operating revenue 3,550.0 3,669.2 (approx. 119.0) (3.2) Ordinary profit <Ordinary profit excluding time lag> 230.0 <approx. 210.0> 276.4 <approx. 264.0> (approx. 46.0) <(approx. 54.0)> (16.8) <(20.5)> Profit attributable to owners of parent 185.0 202.0 (approx. 17.0) (8.5) Summary of Forecast for FY2025 <1> 11
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* The sum of Chubu Electric Power Miraiz, its consolidated subsidiaries, and affiliates accounted for under the equity method. (Note) We do not believe that there will be any significant impact of US tariff policy on electricity demand at this point because industrial electricity demand in the Chubu area for the April to December 2025 period is progressing as planned. We will promptly notify you of any significant changes in the above forecast. Copyright © Chubu Electric Power Co., Inc. All rights reserved. [Principal Figures] (TWh,%) (TWh,%) Electrical Energy Sold by Miraiz Current (A) October 28 (B) Change (A-B) (A-B)/B Electrical Energy Sold 109.7 109.7 - - Electrical Energy Sold including group companies(*) 120.9 120.9 - - [Reference] Year-on-year Current (A) FY2024 (Result) (B) Change (A-B) (A-B)/B Electrical Energy Sold 109.7 107.9 1.9 1.7 Electrical Energy Sold including group companies(*) 120.9 117.3 3.6 3.1 Others Current October 28 <Reference> FY2024 (Result) CIF price: crude oil ($/b) approx. 71 approx. 72 82 FX rate (interbank) (yen/$) approx. 150 approx. 146 153 Nuclear power utilization rate(％) - - - Competitive impacts in sales <approx. 1.2> Impacts of temperature and market etc. < approx. 0.7> Summary of Forecast for FY2025 <2> Sensitivity Analysis Impact on income Crude oil CIF price (+$1/b) *1 small negative impact Exchange rate (+1 yen/$) *1 approx. -0.3 Interest rate (+1%) *2 approx. -0.8 *1 The impact of crude oil CIF prices and exchange rates on JERA's time lag *2 Interest rates are the amount of impact on our interest expense. (Billion yen) 12
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Copyright © Chubu Electric Power Co., Inc. All rights reserved. Reference Data: Financial ResultsⅢ
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Copyright © Chubu Electric Power Co., Inc. All rights reserved. (Billion yen,%) 2025/3Q (A) 2024/3Q (B) Change (A-B) (A-B)/B Operating revenue 2,566.3 2,651.6 (85.2) (3.2) Share of profit of entities accounted for using equity method 94.8 52.1 42.6 81.6 Other 10.5 12.8 (2.3) (17.9) Non-operating income 105.4 65.0 40.3 61.9 Ordinary revenue 2,671.7 2,716.7 (44.9) (1.7) Operating expenses 2,397.7 2,467.5 (69.7) (2.8) Non-operating expenses 33.2 26.9 6.3 23.4 Ordinary expenses 2,431.0 2,494.4 (63.4) (2.5) <Operating profit > <168.5> <184.1> <(15.5)> <(8.4)> Ordinary profit 240.7 222.2 18.4 8.3 Provision or reversal of reserve for water shortage (0.2) 0.7 (1.0) ― Income taxes 36.5 49.5 (13.0) (26.3) Profit attributable to non-controlling interests 1.8 4.7 (2.9) (61.1) Profit attributable to owners of parent 202.5 167.1 35.4 21.2 Consolidated Statements of Income 13
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(Billion yen) Copyright © Chubu Electric Power Co., Inc. All rights reserved. Dec. 31, 2025 (A) Mar. 31, 2025 (B) Change (A-B) Assets 7,499.4 7,124.8 374.6 Liabilities 4,421.1 4,266.2 154.9 Net assets 3,078.2 2,858.5 219.7 Dec. 31, 2025 (A) Mar. 31, 2025 (B) Change (A-B) Shareholders’ equity ratio (%) 40.1 39.1 1.0 Outstanding interest-bearing debt 3,261.7 3,077.8 183.8 (Billion yen) * *The breakdown of changes in outstanding interest-bearing debt is as follows. Impact of financing and repayment 172.8 billion yen Impact of changes in the scope of consolidation 11.0 billion yen Consolidated Financial Standing 14
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Copyright © Chubu Electric Power Co., Inc. All rights reserved. (Billion yen, %)[Ordinary Profit (Loss)] *1Following the confirmation of inappropriate matters for the new regulatory requirements compliance review of the Hamaoka Nuclear Power Station, we decided to terminate outsourcing contracts related to review-related work. While we recorded expenses corresponding to work already performed, we anticipate a result similar to that announced on October 28 due to improved earnings at group companies and reduced expenditure under other outsourcing contracts. *2The Real Estate Business Division was established on April 1, 2025. <Forecast for FY2025 by Segments> (Ordinary profit ) Forecast has not been revised from the previous announcement made on October 28, 2025. Current (A) October 28 (B) Change (A-B) (A-B)/B Miraiz <Ordinary Profit excluding time lag> 110.0 <approx. 105.0> 110.0 <approx. 105.0> - <-> - <-> Power Grid 25.0 25.0 - - JERA <Ordinary Profit excluding time lag> 95.0 <approx. 80.0> 95.0 <approx. 80.0> - <-> - <-> Others, Adjustment charge*1 0.0 0.0 - - (Repost) Real Estate Business*2 20.0 20.0 - - Total <Ordinary Profit excluding time lag> 230.0 <approx. 210.0> 230.0 <approx. 210.0> - <-> - <-> Forecast for FY2025 by Segments 15
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(%) *1The Real Estate Business Division was established on April 1, 2025. *2As outlined in the ‘Chubu Electric Power Group's Initiatives for Achieving Medium-term Management Plan’ published on April 28, 2025 (Note) ROIC=Ordinary profit (loss)* before Interest Expenses and after Income Taxes / Average Invested Capital (Outstanding Interest-bearing Debt + Net Assets) at beginning and end of the period ROA=(Ordinary profit* + Interest expense) / Average total assets at beginning and end of the period ROE=Profit * / Average Equity at the beginning and end of the period Equity = Total Net Assets - Non-controlling Interests * Figures excluding time lag Copyright © Chubu Electric Power Co., Inc. All rights reserved. FY2024 (Result) FY2025 (Forecast) FY2025 [Medium-term management targets, etc.] ＲОＩＣ 3.8 3.3 3.2or more ＲＯＡ 4.1 approx.3 - Miraiz 17.6 approx.14 - Power Grid 2.5 approx.2 - JERA 3.3 approx.5 - Real Estate Business *1 - approx.5 - ＲＯＥ 7.0 approx.6 approx.7 Shareholders’ equity ratio 39.1 approx.39 mid-to-high 30% range Consolidated Financial Indicators *2 (%) 16
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Reference Data: Management Information Copyright © Chubu Electric Power Co., Inc. All rights reserved. Ⅳ
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(billion yen) [Ordinary Profit (Loss)] [Profit (Loss)] (FY) (billion yen) 121.4 128.5 112.9 191.8 192.2 (59.3) 65.1 509.2 276.4 230.0 (100.0) 0.0 100.0 200.0 300.0 400.0 500.0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 (FY) 114.6 74.3 79.4 163.4 147.2 (43.0) 38.2 403.1 202.0 185.0 (100.0) (50.0) 0.0 50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0 450.0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 17 (Forecast) (Forecast) Consolidated Ordinary Profit (Loss) and Profit (Loss) Copyright © Chubu Electric Power Co., Inc. All rights reserved.
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2,674.7 2,595.6 2,981.1 2,425.0 2,333.6 2,800.2 2,925.7 3,079.1 3,077.8 3,260.0 2,000.0 2,200.0 2,400.0 2,600.0 2,800.0 3,000.0 3,200.0 3,400.0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 390.0 150.0 47.0 243.0 267.0 400.0 220.8 189.0 0.0 100.0 200.0 300.0 400.0 500.0 600.0 700.0 800.0 900.0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 319.7 Funding Plan 350.0 （upper limit） [Fund raising (Nonconsolidated) ] (billion yen) （FY） (billion yen) [Outstanding Interest-bearing debt (Consolidated) ] （FY） 18 (Forecast)(Forecast) approx. Fund Raising and Outstanding Interest-bearing Debt Copyright © Chubu Electric Power Co., Inc. All rights reserved.
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(billion yen) 335.0 424.1 296.4 255.8 384.1 21.6 295.7 344.0 301.3 260.0 (360.2) (344.4) (368.3) (647.6) (215.8) (262.0) (196.9) (388.3) (391.7) (410.0) (25.1) 79.6 (71.9) (391.7) 168.3 (240.3) 98.8 (44.2) (90.4) (150.0) 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 (800.0) (600.0) (400.0) (200.0) 0.0 200.0 400.0 600.0 Cash Flows from Operating Activities Cash Flows from Investing Activities FCF * Capital Investment * 228.5 (FY) * 345.6 * 343.7 * 327.1 * 262.2 * 272.3 19 (Forecast) approx. approx. approx. approx. * 255.9 * 242.6 * 243.6 * 340.0 Consolidated Cash Flow Copyright © Chubu Electric Power Co., Inc. All rights reserved.
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1.6 1.5 1.7 1.3 1.1 1.4 1.4 1.2 1.1 1.1 0.5 1.0 1.5 2.0 2.5 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Moody’s R&I JCR A3 AA- AA+ [Shareholders’ equity ratio] [Debt-Equity ratio] [Credit ratings (long-term)] (%) (Times) 31.1 31.3 29.7 34.4 35.7 32.7 31.9 36.4 39.1 39 20.0 25.0 30.0 35.0 40.0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025（FY） （FY） 20 (Forecast) (Forecast) approx. approx. Consolidated Financial Ratio and Credit Ratings Copyright © Chubu Electric Power Co., Inc. All rights reserved.
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(%)(%) 6.6 5.5 7.4 6.8 4.1 6.3 11.6 7.0 6 (4.0) (2.0) 0.0 2.0 4.0 6.0 8.0 10.0 12.0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 6.3 [ROA] [ROE] (FY) (FY) 21 2.6 3.2 3.2 3.0 1.4 2.8 5.8 4.1 3 (2.0) (1.0) 0.0 1.0 2.0 3.0 4.0 5.0 6.0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 3.4 *Figures excluding time lag*Figures excluding time lag (Forecast) (Forecast) approx.approx. Consolidated ROA and ROE Copyright © Chubu Electric Power Co., Inc. All rights reserved.
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(%) (%) （FY） 22 96.8 89.4 101.6 143.9 123.8 142.1 145.0 153.4 216.8 213.4 0.0 30.0 60.0 90.0 120.0 150.0 180.0 210.0 240.0 2020 2021 2022 2023 2024 Chubu Electric Power Comparative index: TOPIX Total Return Index 2.5 3.3 3.4 2.9 1.9 2.9 5.5 3.8 3.3 (1.0) 0.0 1.0 2.0 3.0 4.0 5.0 6.0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 3.3 [ROIC] *Figures excluding time lag [TSR] Total Shareholders Return is a ratio that return earned on equity investments (dividend and capital gain) divided by investment amount (stock price). TSR formula = (Stock price at the end of each fiscal year + Cumulative amount of dividends per share from the previous four fiscal years of the current fiscal year to the respective fiscal years) / Stock price at the end of the five fiscal years prior to the current fiscal year （FY） (Forecast) approx. Consolidated ROIC and Total Shareholders Return (TSR) Copyright © Chubu Electric Power Co., Inc. All rights reserved.
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FY2022 FY2023 FY2024 FY2025*2 1.499 1.562 1.492 1.163 ２ Gas sales volume*1 Target： Increase to 3 million tons/year (in the late 2020s) (million tons) １ Share of Other Operators*1 in the Chubu Area FY2022 FY2023 FY2024 FY2025*2 Chubu Area 20.1％ 16.4％ 15.9％ 15.9% (%) *1 Calculated based on the 'Status of Electricity Transactions' published by the Electricity and Gas Market Surveillance Commission. It refers to the share rate of electricity sales volume by operators other than Former General Electric Power Companies *2 Calculated based on the actual results from April to October 2025. FY2022 FY2023 FY2024 FY2025*2 Chubu Area 13.9％ 11.8％ 12.8％ 13.6％ Tokyo Area 29.9％ 25.9％ 28.4％ 32.5% Kansai Area 19.3％ 15.2％ 16.5％ 18.0％ (Reference) Share of Power Producers and Suppliers by Area*1 *2 Calculated based on the actual results from April to December 2025. (%) 23 *1 Including sales volume by group companies. *2 The actual results from April to December 2025 are documented. ３ Sales volume of CO2-free electricity. We aim to further expand sales to meet our customers' decarbonization needs. (TWh) *1 Former general electric utilities and Power Producers and Suppliers, etc. Key Indicators of Miraiz Copyright © Chubu Electric Power Co., Inc. All rights reserved. FY2022 FY2023 FY2024 FY2025* 3.6 5.9 8.0 5.9 *The actual results from April to September 2025 are documented.
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24 * The total may not match due to rounding. (TWh) (TWh) FY2024 Apr. May June July Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Total Low voltage 2.5 2.0 1.9 2.1 3.2 2.9 2.2 2.1 2.4 3.7 3.4 3.0 31.3 High voltage・ Extra-high voltage 6.0 5.9 6.3 7.1 6.9 7.1 6.7 6.0 5.9 6.2 6.2 6.2 76.6 Total 8.4 7.8 8.1 9.2 10.1 10.0 9.0 8.1 8.3 9.9 9.6 9.3 107.9 Monthly Breakdown of Electrical Energy Sold of Miraiz Copyright © Chubu Electric Power Co., Inc. All rights reserved. FY2025 Apr. May June July Aug. Sep. Oct. Nov. Dec. 3Q Low voltage 2.3 2.0 1.8 2.3 3.0 2.7 2.1 2.1 2.3 20.7 High voltage・ Extra-high voltage 6.1 6.0 6.6 7.5 7.2 7.4 6.9 6.1 6.0 59.8 Total 8.5 8.0 8.4 9.8 10.2 10.1 9.0 8.2 8.4 80.5
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Structure of Power Procured Usage status of non-fossil fuel certificate (Note)We sell renewable energy 100% or practical renewable energy 100% menus to some customers, and the graphs show the structure of power procured, and usage status of non-fossil fuel certificate of other menus. *1 These figures are prepared based on "The Guidelines for Retail Sales of Electricity" (Ministry of Economy, Trade and Industry, established in January 2016, last revised on March 31, 2025). Due to rounding, the total may not equal 100%. *2 The portion of this electricity that is not covered by non-fossil certificates does not have any value as a renewable energy source or as a zero-emission CO2 power source, and its CO2 emissions is treated as national average emissions of electricity including thermal etc. *3 Some cost of this electricity is covered by the levy from all users, including those who are not our customers. The portion of this electricity that is not covered by non-fossil certificates does not have any value as a renewable energy source or as a zero-emission CO2 power source, and its CO2 emissions is treated as national average emissions of electricity including thermal etc. *4 Including Hydro, Thermal, Nuclear, FIT, Renewable, etc. *5 Output from purchased power of which we cannot specify the power source *6 Since the percentage is less than 0.5%, it is stated as 0% due to fractional treatment. *7 Excluding over 30MW hydro and FIT-based 25 Coal 19% LNG 43% JPEX 11%*4 Other 13%*5 Specified in renewable energy 4% Not Specified 14% Not Used 82% FY2024 FY2024 Structure of Power Procured (definite results) *1 Copyright © Chubu Electric Power Co., Inc. All rights reserved. Oil*6 Less than 0% Nuclear*2 1% Coal 19% LNG 44% Renewable*2*7 3% FIT*3 6% JEPX*4 11% Other*5 12% Hydro(over 30MW) *2 4%
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At present, the capacity of our entire group is approx. 1,230 MW, against the target of expanding renewable energy capacity* to 3.2 GW or more by around 2030. Commercial operation of “Goto Offshore Wind Farm,” Japan‘s first commercial floating offshore wind farm, began on January, 2026. We shall continue to expand our operations while carefully assessing the investment environment, with the premise of ensuring economic efficiency. * In addition to the renewable energy facilities owned by our group, this includes the capacity of facilities owned by customers that deliver renewable energy value to customers through the construction and maintenance by Chubu group. Overview of Renewable Energy Business Abekawa hydro 7.83MW, operated in Apr 2025 Uchigatani hydro 0.73MW,operate in 2027 Tahara biomass 112MW, operated in Sep 2025 Goto City offshore wind 16.8 MW, operated in Jan 2026 Fukuyama biomass 52.7MW, operated in July 2025 Nishimura hydro 1.93MW, operate in 2027 Main development sites after FY2025 Susono biomass 1.99MW, operate in 2025 For more details, including development sites before FY2024, please click here . Toyoake Nigori-ike Solar 1.75MW, operated in July 2025 Toyama River Hydroelectric Power Station 11.4MW, operate in 2029● Shibukawa biomass 1.99MW, operate in 2027 Yahaba biomass 1.99MW, operate in 2025 Motosu Purification Center Solar 0.709MW, operated in Oct 2025 Nagano biomass 1.99MW, operate in 2027 Tottori Prefecture Sakaiminato City biomass 28.11MW, operate in 2026 Joetsu biomass 1.99MW, operate in 2027 ● ★ Atsumi II Wind Power Station 21MW, operate in 2027 Mega Solar Yoro 1.25MW, operate in 2025 * Capacity including our entire group (after development decision) 3.79GW* Hydro 0.05 (Excluding pumped storage) Wind 0.06 Solar 0.41 Biomass 0.35 2.56GW*1 FY2017 Solar 0.24 Wind 0.17 Biomass 0.01 Hydro 2.14 (Excluding pumped storage) Scaled up With Costomers 0.36 Around 2030 The target of expanding renewable energy capacity (including ownership, construction, and maintenance) Expand 3.2 GW or more 1.2 GW or more Scaled up with customers 2 GW or more Chubu EP Group developed renewable energy Current (As of December 2025) ★ ● Kawauchi-machi biomass 1.99MW, operate in 2027 Copyright © Chubu Electric Power Co., Inc. All rights reserved.26 ★ ★★ ★ Note: In August 2025, following discussions among business partners concerning the offshore wind power generation project developed and funded by our group, it was decided to withdraw from the three sea areas designated for Round 1. Commence operation Under construction Development decided ★ Current Status z
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Main initiatives for FY 2025 Jun Signing agreement with Lotus Infrastructure Partners, LP to form a strategic relationship • We and Lotus Infrastructure Partners, LP, a U.S.-based energy infrastructure investment firm, have reached an agreement to form a strategic relationship. We will seek to contribute to the growing energy infrastructure market in North America. Oct Signing agreement with INPEX to deepen joint study to establish a Japan-Australia CCS value chain. • We have signed an agreement with INPEX Browse E&P Pty Ltd, a wholly-owned subsidiary of INPEX CORPORATION, to deepen the joint study for the development of a CCS value chain from Nagoya Port to the Bonaparte Basin offshore Northern Territory, Australia. Following the initial findings on the technical aspects of CO2 marine transport obtained from the feasibility study based on the agreement signed in October 2024, we will advance our joint study to enhance the feasibility of a CCS project that transports CO2 from Nagoya Port for storage in the Bonaparte Basin, Australia. Signing of a Cooperation Agreement on Diesel Reduction with PT PLN (Persero) • We and Okinawa Electric Power Co., Inc. have signed a cooperation agreement with PT PLN (Persero), the state-owned electricity company in Indonesia, to explore the feasibility of reducing existing diesel power generation in the country's island regions through solar power generation, battery storage, and grid stabilization measures. Signing MOU with ACWA Power Company on comprehensive cooperation for decarbonization • We have agreed to comprehensively cooperate with ACWA Power Company, the world's largest seawater desalination operator and the largest IPP operator in the Middle East, in the field of decarbonization, including renewable energy. Participation in Renewable Energy Development Project in the Republic of Uzbekistan and Execution of Financing Agreements • We have decided to jointly participate in a renewable energy development project to construct, own, and operate a solar power plant and a large-scale Battery Energy Storage System in the Republic of Uzbekistan , together with ACWA Power Company , Sumitomo Corporation, and Shikoku Electric Power Co., Inc. Dec Partial Commercial Operation Commences at Geretsried Geothermal Project in Germany • The Geretsried Geothermal Project, a geothermal power generation and district heating initiative in Bavaria, Germany, jointly funded by us and Eavor Technologies Inc. commenced partial commercial operation. Expansion of Global Business <1> Copyright © Chubu Electric Power Co., Inc. All rights reserved. 27
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About acquisition of Eneco Investment (Mar. 2020) 4.1 billion euros (approx. 500 billion yen) (Investment ratio : Mitsubishi 80%, Chubu 20%) Business Comprehensive energy business that combines power, gas and heat Region Netherlands, Belgium, Germany, etc. Financial (FY2024) ・Profit : 245 million euros (approx. 41.7 billion yen*) decreased by approx. 33% compared with FY2023 ・Chubu’s consolidated contribution profit : 4.9 billion yen In Europe, we use Eneco as platform for European strategy to expand growth areas (renewable, retail, new services). Eneco announced its goal of achieving net zero GHG emissions by 2035. We will return Eneco’s efforts to our domestic business to create synergistic effects to realize our “Zero Emissions Challenge 2050.” Synergistic effects with Chubu Dispatched employee ･Dispatched 3 employees (Management Division, Retail Division, Technical Division） ･Proposals for promoting sustainability to Japanese companies in Europe, and initiatives to promote the introduction of heat pumps using Miraiz's experience and knowledge. ･Technical Support for Establishing Optimal Design Methods for Heat Supply Equipment Outline Gas power Existing facilities will be gradually converted to sustainable (carbon-neutral natural gas and green hydrogen) power sources or closed. Renewable energy Doubling the equity capacity (1.3GW in 2019 ⇒ 2.6GW in 2025) For customers Conversion from gas-fired central heating boilers to heat pumps and hydrogen-boilers * 170 yen / Euro Expansion of Global Business <2> 28 Copyright © Chubu Electric Power Co., Inc. All rights reserved.
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Regional Revitalization through Real Estate Business Establishment of Real Estate Business Division (April 2025) • We go beyond supporting the operations and joint projects of Chuden Real Estate and ES-CON JAPAN, promoting community building in harmony with the region that evolves with the times and environment by integrating services such as energy management with added-value features that enhance safety, security, comfort, and convenience. Further growth of core businesses Stabilization of revenue structure Business expansion centered on Japan’s five major metropolitan areas Expansion of rental business income Development projects on former dormitory and company housing sites Providing unique added value through energy, a strength of the Chubu Electric Power Group Energy management Promoting community building through Group co-creation 2021 20252024 20 (Target) … Profit Outlook (¥20 billion in FY2025) Addressing regional issues × Community building × Enhancing corporate value Strengthening collaboration and personnel exchange with Group real estate companies Real estate development expertise Utilization of Group-owned assets Strengthening collaboration Diverse networks Support and collaboration with Group real estate companies Community building planning and development Management and effective use of owned assets Establishment of Real Estate Business Division Strategy development, planning, and monitoring Support for collaboration across companies and business areas (utilization of commercial resources, horizontal sharing of information) Human resource development Functional integration 10 20 2030 (Billion yen) Forecast Actual ES-CON JAPAN became a consolidated subsidiary (April 2021) Key achievements during 4-Year Medium-term Management Plan Community building ･Improvement in ES-CON JAPAN’s revenue CAGR* ･ Improvement P/B ratioSynergy effects ･TSUNAGU GARDEN Senrifujishirodai (Opened: November 2023) Condominium units (642), commercial facilities (5), and three other sites Chuden Real Estate ES-CON JAPAN Joint projects *Compound Annual Growth Rate • iiNEtown Mizuho (Opened: April 2024) Condominium units (135), commercial facilities (19) • i-VILLAGE Jinryo (Opened: April 2025) Residential lots (86), commercial facilities (9), etc. • HOKKAIDO BALLPARK F VILLAGE / Kitahiroshima station-front development (Phased completion/opened from February 2023) Condominium units (118), commercial facilities (26), etc. • Land acquisition for a large-scale development project in Aichi Prefecture i-VILLAGE Jinryo HOKKAIDO BALLPARK F VILLAGE Excerpt from ‘Chubu Electric Power Group's Initiatives for Achieving Medium-term Management Plan’ published in April 2025 29 Copyright © Chubu Electric Power Co., Inc. All rights reserved.
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DISCLAIMER The forecasts in this presentation are based on information available as of the date of this announcement was made, and also, assumptions as of the date of this announcement were made on uncertain factors that would affect future results. Actual results may materially differ by various causes in the future. This English translation is solely for reference purposes only and not a legally definitive translation of the original Japanese text. In the event a difference arises regarding the meaning herein, the original Japanese version will prevail as the official authoritative version. Copyright © Chubu Electric Power Co., Inc. All rights reserved.
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Copyright © Chubu Electric Power Co., Inc. All rights reserved.