Chubu Electric Power : Presentation Materials for Nine-Months ended December 31, 2021

Presentation Materials

for Nine-Months ended December 31, 2021

January 28, 2022

INDEX

• Outline of Financial Results for Nine-Months ended December 31, 2021

Summary of Financial Results	･････････････01
Summary of Financial Results by Segments	･････････････04
Electric Energy Output	･････････････08
[Reference] Impact of Accrued Income (Result)	･････････････09
Summary of Forecast for FY2021	･････････････10
[Reference] Impact of Accrued Income and Loss (Forecast)	･････････････12

• Reference Data: Financial Results

Consolidated Statement of Income	･････････････13
Consolidated Financial Standing	･････････････14
Forecast for FY2021 by Segments	･････････････15
Financial Indicators etc.	･････････････16

C o p y r i g h t © C H U B U E l e c t r i c P o we r C o . , I n c . A l l R i g h t s R e s e r v e d .

• Outline of Financial Results for Nine-Months ended December 31, 2021

Note: The company's fiscal year (FY) is from April 1 to March 31 of the following year.

FY2021 represents the fiscal year begun on April 1, 2021, and ending on March 31, 2022.

3rd Quarter (3Q) represents nine months period ended December 31, 2021.

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.

C o p y r i g h t © C h u b u E l e c t r i c P o we r C o . , I n c . A l l r i g h t s r e s e r v e d .

Summary of Financial Results <1>

(Consolidated)

• Operating revenues: 1,826.8 billion yen

Operating revenues decreased by 285.6 billion yen compared with 2020/3Q, mainly due to an application of "Accounting Standards for Revenue Recognition" (-472.9 billion yen).

• Ordinary income/ loss: -5.1 billion yen

Ordinary income/ loss decreased by 196.6 billion yen compared with 2020/3Q, mainly due to an conversion of time lag income incurred by fuel cost adjustment system into loss (-171.0 billion yen [66.0 billion → -105.0 billion yen]) and competitive impacts in sales in Miraiz and an increase in power

procurement costs by increased prices in JEPX, in spite of an increase in income of LNG and coal trading business in JERA and an increase related to the impact of COVID-19 in 2020/3Q.

[Reference] Consolidated ordinary income excluding the effect of time lag: Approx. 100.0 billion yen (decreased by approx. 25.0 billion yen compared with 2020/3Q)

• Extraordinary loss: -5.6 billion yen

In response to the sharp rise in imbalance charges due to the tight supply and demand of electricity in January 2021, we recorded an extraordinary loss as the amount of the partial return of the imbalance charges of Power Grid.

・Operating revenues decreased for 2 consecutive years since 2020/3Q.
・Ordinary income/ loss decreased for the first time in 3 years since 2018/3Q.
・We recorded decreased sales and income for the first time in 5 years since 2016/3Q,
・We recorded deficit for the first time in 8 years since 2013/3Q, .				(Billion yen,%)
	2021/3Q			2020/3Q		Change
	(A)			(B)		(A-B)	(A-B)/B
Operating revenues	1,826.8			2,112.5		(285.6)	(13.5)
Operating income /loss	(1.8)			112.0		(113.8)	-
Ordinary income /loss	(5.1)			191.4		(196.6)	-
Extraordinary loss	(5.6)			-		(5.6)	-
Net income/ loss attributable to owners of parent	(13.1)			156.6		(169.8)	-

(note) The number of consolidated subsidiaries ［change from the previous year in parenthesis］

1	2021/3Q: 62 subsidiaries (＋24 companies), 58 affiliates accounted for under the equity method (+10 companies)
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Summary of Financial Results <2>

22,0002,200.0

21,000,100.0

(Operating revenues decreased by 285.6 billion yen)	（単位：億円）
	（Billion yen）

An application of Accounting Standards for Revenue Recognition(*)

2,00,000.0

19,1,900.00

18,1,800.00

17,1,700.00

16,1,600.00

15,,500.0

2,112.5

2020/3Q

Operating Revenues

-472.9

Others

Becoming a consolidated

subsidiary of ES-CON122.1 JAPAN Ltd.

65.1

An increase in operating revenues excluding an application of Accounting Standards for Revenue Recognition (approx. 187.2)

1,826.8

2021/3Q

Operating Revenues

* The amount of impact included in 2020/3Q is reported.

2	C o p y r i g h t © C h u b u E l e c t r i c P o we r C o . , I n c . A l l r i g h t s r e s e r v e d .