Press Release
TEPCO Energy Partners Additional Capital Increase

January 23, 2023

Tokyo Electric Power Company Holdings, Inc.

Tokyo Electric Power Company Holdings, Inc. (hereinafter TEPCO HD) today decided to subscribe to the full amount of allocation of new shares to a third party conducted by its consolidated subsidiary TEPCO Energy Partners, Inc. (hereinafter TEPCO EP)

Due to the rapid depreciation of the yen in addition to the soaring fuel and wholesale electricity market prices caused by the conflict in Ukraine, TEPCO EP's financial standing has worsened, and as of the end of June 2022, it had excessive debt for \6.7 billion. TEPCO HD announced on August 31, 2022 that we decided to subscribe to the capital increase of TEPCO EP for \200 billion, and completed the deal on October 31.

However, despite these measures, fuel and wholesale electricity market prices are expected to remain at high levels, and TEPCO EP is expected to record the ordinary loss of approximately \505 billion for the term ending in March 2023. In light of this, TEPCO HD again recognizing that TEPCO EP's financial foundation needs to be rebuilt, has decided to subscribe to the additional capital increase for \300 billion.

TEPCO HD will rebuild TEPCO EP's financial foundation by reviewing the low-voltage rate plans in addition to increasing its capital to continue to fulfill our role of providing a stable supply of electricity.

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