TOHOKU ELECTRIC POWER CO., INC.

September 9, 2021

Notice Concerning Issuance of the 536th Straight Bonds of Tohoku Electric Power Co., Inc.

We hereby announce that the 536th Straight Bonds of Tohoku Electric Power Co., Inc. will be issued as described below.

Please note that the bonds will be offered to institutional investors only.

The 536th Straight Bond

1.

Purpose of issuance:

Proceeds will be used for capital expenditure, bond redemption, and loans

to Tohoku Electric Power Network Co., Inc.

2.

Type of bond:

Straight bond (with general mortgage)

3.

Aggregate

principal amount:

30 billion yen

4.

Denomination:

1 million yen

5.

Schedule:

Date of offer

September 9, 2021

Subscription date

September 9, 2021

Closing date

September 15, 2021

Date of issue

September 15, 2021

6.

Interest:

0.290% p.a.

(Yield to maturity: 0.290% p.a.)

7.

Issue price:

100% of the denomination

8.

Redemption price:

100% of the denomination

9.

Period to maturity:

10 years (September 25, 2031)

10. Redemption method:

Bullet maturity

11. Managers:

Mizuho Securities Co., Ltd. (Lead manager)

Daiwa Securities Co. Ltd.

Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.

Nomura Securities Co., Ltd.

Tokai Tokyo Securities Co., Ltd.

12. Bond trustees:

Mizuho Bank, Ltd.

Sumitomo Mitsui Banking Corporation

13. Bond rating:

A+ (Rating and Investment Information, Inc.)

AA (Japan Credit Rating Agency, Ltd.)

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Tohoku Electric Power Co. Inc. published this content on 09 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 September 2021 04:41:03 UTC.