Press Release
Signing of the Memorandum of Understanding in the Socialist Republic of Viet Nam
～Focus on business development to realize a Carbon Neutral Society～

December 15, 2023

Tokyo Electric Power Company Holdings, Inc.

TEPCO and Vietnam Electricity (hereinafter referred to as, "EVN") today signed a Memorandum of Understanding (hereinafter referred to as, "MOU").

This MOU intends to foster better business operations for both parties by sharing experiences and information with a view to future joint business development in areas of interest to both parties.

Specifically, both parties will cooperate with each other in a wide range of areas which are carbon neutrality initiatives such as development of renewable energy sources including green hydrogen, power system optimization such as improving the efficiency of power transmission and distribution networks, corporate governance and consideration of employee exchange programs.

TEPCO and EVN have been sharing information through mutual exchanges such as conducting facility tour and exchanging opinions. With the mutual desire to enhance the business development and cooperation in the coming time, both parties have now entered into this MOU.
The government of the Socialist Republic of Viet Nam (hereinafter referred to as "Vietnam") has set a goal to achieve net zero emissions by 2050, and the both parties aim to cooperate with each other in anticipation of future system reforms such as electricity deregulation.

Prior to the MOU, in April of this year, TEPCO Renewable Power, Inc. which is responsible for renewable energy power generation business in our group, and EVNGENCO 1^*, which is responsible for power generation business under the umbrella of EVN, entered into a basic agreement for the joint development of renewable energy.
In July of this year, we established a representative office in Hanoi to contribute to carbon neutrality in Vietnam, network with related ministries and companies, and study overseas business models for the TEPCO Group as a whole. We will leverage this office to further deepen our relationship with EVN in the future.

TEPCO will further strengthen our cooperation with EVN, including the businesses of our core companies, and contribute to the realization of a carbon neutral society in Vietnam.

* EVNGENCO1 (Power Generation Corporation 1)
100% owned by EVN.
Owns approximately 7 GW of thermal, hydro and solar power generation capacity in Vietnam.
The company is the largest shareholder of Vietnam Power Development, in which TEPCO Renewable Power, Inc. invested in December 2022.

<Overview of the MOU>

Signer	Tokyo Electric Power Company Holdings, Inc. and Vietnam Electricity
Purpose	Pursuing the joint business development between the Parties in the Targeted Fields Improving the business operations and practices of its own company or its Affiliates
Scope of cooperation	Carbon neutrality initiatives (Renewable energy sources, digital transformation, etc.) Power system optimization (Smart grid, distribution automation systems, etc.) Improvement of customer experience Corporate governance Employee exchange programs

<Overview of EVN>

Company name	Vietnam Electricity (EVN)
President & C E O	Mr. Nguyen Anh Tuan
Location of HQ	Hanoi City, Vietnam
Established year	1995
Business	Power generation, transmission and distribution EVN is a state-owned company and largest power utility, which owns and manages power generation, transmission and distribution companies in Vietnam. EVN owns , together with its subsidiaries, approximately 40% of the national power generation capacity and supplies electricity to nearly 29 million customers over the country.