Slides
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July 29, 2026 Presentation Materials for Three-Months ended June 30, 2026
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Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d . INDEX Ⅰ｜Outline of Financial Results for Three-Months ended June 30, 2026 Summary of Financial Results Summary of Financial Results by Segments Electrical Power Generation [Reference] Image of Time Lag (Result) Summary of Forecast for FY2026 [Reference] Image of Time Lag (Forecast) ･･･････････････01 ･･･････････････04 ･･･････････････08 ･･･････････････09 ･･･････････････10 ･･･････････････12 ･･･････････････13 ･･･････････････14 ･･･････････････15 ･･･････････････16 Ⅱ ｜ Reference Data: Financial Results Consolidated Statements of Income Consolidated Financial Standing Forecast for FY2026 by Segments Consolidated Financial Indicators
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Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d . Ⅰ Outline of Financial Results for Three-Months ended June 30, 2026 Note:The company’s fiscal year (FY) is from April 1 to March 31 of the following year. FY2026 represents the fiscal year begun on April 1, 2026, and ending on March 31, 2027. 1st Quarter (1Q) represents three months period ended June 30, 2026. 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.
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Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , 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> (Note) 1 <Points of Financial Results> (Consolidated) ■ Operating revenue: 825.8 billion yen Although there was a decrease in the fuel cost adjustment charge*, operating revenue increased by 25.5 billion yen compared with 2025/1Q, mainly due to an increase in electricity sales to other suppliers in line with higher selling prices. * including government support for electricity bills ■ Ordinary profit: 27.1 billion yen While earnings from JERA's domestic thermal power and gas business improved due to changes in the business environment such as the situation in the Middle East, there was an increase in power procurement costs at Miraiz. In addition to these factors, ordinary profit decreased by 77.6 billion yen compared with 2025/1Q, due to the time lag turning from a gain to a loss, a decrease in electrical energy sold at Miraiz, and an increase in equipment-related expenses and other expenses caused by higher prices in the Power Grid, among other factors. ■ Profit attributable to owners of parent: 35.2 billion yen Profit attributable to owners of parent decreased by 50.1 billion yen compared with 2025/1Q, mainly due to a decrease in ordinary profit. ・Operating revenue increased for the first time in 3 years since 2023/1Q. ・Ordinary profit decreased for 3 consecutive years since 2024/1Q. ・We recorded increased revenues and decreased profit for the first time in 4 years since 2022/1Q. 2026/1Q (A) 2025/1Q (B) Change (A-B) (A-B)/B Operating revenue 825.8 800.3 25.5 3.2 Operating profit (25.0) 67.9 (92.9) ― Ordinary profit <Ordinary profit excluding time lag> 27.1 <approx. 36.1> 104.8 <approx. 75.8> (77.6) <(approx. 39.6)> (74.1) <(52.3)> Profit attributable to owners of parent 35.2 85.3 (50.1) (58.7) (Billion yen, %) The number of consolidated subsidiaries ［change from the previous year in parenthesis］ 2026/1Q: 80 subsidiaries (+4 company), 96 affiliates accounted for under the equity method (+7companies) 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.
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<Factors contributing to change in consolidated operating revenue> (Operating revenue increased by 25.5 billion yen) 800.3 825.8 63.0 -37.5 5,000 6,000 7,000 8,000 9,000 10,000 Increase in electricity sales to other suppliers due to higher selling prices Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d . (Billion yen) 2 2026/1Q Operating Revenue 2025/1Q Operating Revenue Others Summary of Financial Results <2> A decrease in fuel cost adjustment charge, etc.*-27.7 * including government support for electricity bills 1,000.0 900.0 800.0 700.0 600.0 500.0
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104.8 27.1 -38.0 -62.1 -16.2 39.5 -0.8 △500 0 500 1,000 1,500 <Factors contributing to change in consolidated ordinary profit> (Ordinary profit decreased by 77.6 billion yen) Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d . 3 2026/1Q Ordinary profit 2025/1Q Ordinary profit approx. 75.8 Excluding Time lag approx. 36.1 Excluding Time lag Time lag income Miraiz (Excluding time lag) Summary of Financial Results <3> (Billion yen) Power Grid JERA (Excluding time lag) Others (29.0 → -9.0) (44.4 → -17.6) (4.0 → -12.2) (20.4 → 59.9) (6.8 → 5.9) 150.0 100.0 50.0 -50.0 A decrease in ordinary profit excluding time lag (approx. -39.6)
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Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d . 4 2026/1Q (A) 2025/1Q (B) Change (A(B) (A(B)/B Operating revenue Miraiz 650.9 670.2 (19.2) (2.9) Power Grid 252.7 202.8 49.9 24.6 Other (*1) 151.0 156.1 (5.0) (3.3) Adjustment (228.9) (228.8) (0.0) 0.0 Total 825.8 800.3 25.5 3.2 Ordinary profit Miraiz (24.6) 51.4 (76.1) ― Power Grid (12.2) 4.0 (16.2) ― JERA (*2) 57.9 42.4 15.5 36.7 Other (*1) 59.2 117.0 (57.8) (49.4) (Repost) Real Estate Business (0.1) 2.7 (2.9) ― Adjustment (53.3) (110.2) 56.9 (51.6) Total 27.1 104.8 (77.6) (74.1) (Billion yen, %) *1 “Other” is business segment that is not reporting segments and includes Renewable Energy Company, Multi-Utility Business 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. (Note) Each segment is stated before eliminating internal transactions. Summary of Financial Results by Segments <1>
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51.4 -24.6 -14.0 -45.0 -17.1 △300 △200 △100 0 100 200 300 400 500 600 （Billion yen） 5 Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d . Electrical Energy Sold to other companies 5.9 4.3 1.6 35.8 Electrical Energy Sold including group companies 25.0 27.2 (2.2) (8.2) 2026/1Q (A) 2025/1Q (B) Change (A-B) (A-B)/B Low voltage 5.8 6.1 (0.3) (4.8) High voltage・ Extra-high voltage 16.8 18.7 (2.0) (10.5) Total 22.6 24.8 (2.3) (9.1) <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. 2.1)> Impacts of temperature and market, etc. <(approx. 0.1)> <Factors contributing to change in Ordinary profit> ■In addition to the time lag turning from a gain to a loss, ordinary profit decreased by 76.1 billion yen compared with 2025/1Q, mainly due to an increase in power procurement costs resulting from changes in the business environment such as the situation in the Middle East, and a decrease in electrical energy sold. [Reference] Ordinary profit excluding time lag: Approx. -17.6 billion yen (decreased by approx. 62.1 billion yen compared with 2025/1Q) approx. -17.6 Excluding Time lag A decrease in electrical energy sold, and the reactionary effect of the cost reduction from restructuring the power procurement portfolio in 2025/1Q, etc. 60.0 50.0 -10.0 Time lag income (7.0 → -7.0) An increase in power procurement costs due to the situation in the Middle East, etc. 2026/1Q Ordinary profit Summary of Financial Results by Segments <2>: Miraiz 40.0 30.0 20.0 10.0 -20.0 2025/1Q Ordinary profit approx. 44.4 Excluding Time lag -30.0 Others A decrease in ordinary profit excluding time lag (approx. -62.1)
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4.0 -12.2 -6.0 -5.2 -5.0 △150 △100 △50 0 50 100 (TWh,%)<Energy demand in Chubu region> 6 Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d . (Billion yen) <Factors contributing to change in Ordinary profit> Ordinary profit decreased by 16.2 billion yen compared with 2025/1Q, mainly due to an increase in supply and demand adjustment costs, and an increase in equipment-related expenses and other expenses caused by higher prices. 2025/1Q Ordinary profit 2026/1Q Ordinary profit 35.010.0 An increase in supply and demand adjustment costs Others 2026/1Q (A) 2025/1Q (B) Change (A-B) (A-B)/B Low voltage 7.6 7.8 (0.2) (2.9) High voltage・ Extra-high voltage 19.9 20.0 (0.1) (0.4) Total 27.5 27.8 (0.3) (1.1) Summary of Financial Results by Segments <3>: Power Grid 5.0 40.0 -10.0 -5.0 An increase in equipment-related expenses and other expenses , etc. -15.0 A decrease in transmission revenue due to a decrease in energy demand in the Chubu region, etc
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42.4 57.9-24.0 34.3 8.6 -3.4 0 200 400 600 800 *CIF crude oil price for 2026/1Q is tentative. <CIF price, FX rate> 7 [Reference] JERA consolidated profit (Billion yen) Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d . (Billion yen) 2026/1Q Ordinary profit 2025/1Q Ordinary profit Time lag Income 80.0 60.0 40.0 20.0 (22.0 → -2.0) Others approx. 20.4 Excluding Time lag approx. 59.9 Excluding Time lag 2026/1Q (A) 2025/1Q (B) Change (A-B) CIF price: crude oil ($/b) 112.8 75.2 37.6 FX rate (interbank) (yen/$) 159.5 144.4 15.1 2026/1Q (A) 2025/1Q (B) Change (A-B) Profit <Profit excluding time lag> 123.1 <approx. 128.0> 92.5 <approx. 48.3> 30.6 <approx. 79.6> Summary of Financial Results by Segments <4>: JERA * 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. 39.5) An increase in profit from sales in the wholesale electricity market, etc. Domestic thermal power and gas business Overseas and renewable energy power generation business <Factors contributing to change in Ordinary profit> Although the time lag turned from a gain to a loss, ordinary profit increased by 15.5 billion yen compared with 2025/1Q, mainly due to an improvement in earnings from the domestic thermal power and gas business driven by higher profit in wholesale electricity market trading, as well as an improvement in earnings from the overseas and renewable energy power generation business. [Reference] Ordinary profit excluding time lag: Approx. 59.9 billion yen (increased by approx. 39.5 billion yen compared with 2025/1Q)
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Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d . <Electrical Power Generation> (Chubu Electric Power) ■ Hydro Decreased by 0.1 TWh since the flow rate was lower than 2025/1Q ■ Renewable energy Same as FY2025 (TWh,%) 8 2026/1Q (A) 2025/1Q (B) Change (A-B) (A-B)/B Hydro <flow rate> 3.0 <102.3> 3.0 <103.8> (0.1) <(1.5)> (2.1) Nuclear <utilization rate> - <-> - <-> - <-> - Renewable energy 0.1 0.1 (0.0) (9.6) Total 3.0 3.1 (0.1) (2.2) Electrical Power Generation
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Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d . 99 * 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) Elements of cost (fuel procurement) Elements of income (time lag from fuel procurement) ＜FY2025/1Q＞ ＜FY2026/1Q＞ Income 29.0 Loss -9.0 2025/4 2025/7 2026/4 2026/7 2027/4
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Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d . 10 Summary of Forecast for FY2026 <1> <Forecast> (Consolidated) Although fuel prices and wholesale electricity market prices, which are the assumptions underlying the earnings forecast, remain uncertain due to factors such as the situation in the Middle East, we have calculated and hereby announce our earnings forecast for FY2026 based on certain assumptions. ■ Operating revenue: 3,900.0 billion yen Operating revenue is expected to increase by approximately 350.0 billion yen, mainly due to an expected increase in the fuel cost adjustment charge, etc. in line with higher fuel prices, etc. ■ Ordinary profit: 185.0 billion yen While earnings from JERA's domestic thermal power and gas business are expected to improve due to changes in the business environment such as the situation in the Middle East, an increase in power procurement costs is expected at Miraiz. In addition to these factors, ordinary profit is expected to decrease by approximately 106.0 billion yen, due to an expected decrease in electrical energy sold at Miraiz, and an expected increase in equipment-related expenses and other expenses caused by higher prices in the Power Grid, among other factors. ・Operating revenue will increase for the first time in 2 years since FY2024. ・Ordinary profit will decrease for the first time in 2 years since FY2024. ・We will record increased revenue and decreased profit for the first time in 2 years since FY2024. FY2026 (Forecast) (A) FY2025 (Result) (B) Change (A-B) (A-B)/B Operating revenue 3,900.0 3,546.0 approx. 350.0 10.0 Ordinary profit <Ordinary profit excluding time lag> 185.0 <approx. 190.0> 291.0 <approx. 284.0> (approx. 106.0) <(approx. 94.0)> (36.4) <(33.1)> Profit attributable to owners of parent 160.0 227.7 (approx. 68.0) (29.8) (Billion yen, %)
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Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d . 11 Summary of Forecast for FY2026 <2> [Principal Figures] <Others> [Reference] Year-on-year • The sum of Chubu Electric Power Miraiz, its consolidated subsidiaries, and affiliates accounted for under the equity method. • Regarding the impact of the situation in the Middle East on electricity demand, we assume it is limited at this time, as electricity demand in the Chubu region for the period from April to June 2026 has been generally in line with our plan. We will promptly notify you of any significant changes in the earnings forecast going forward. (TWh,%) FY2026 (Forecast) (A) FY2025 (Result) (B) Change (A-B) (A-B)/B Electrical Energy Sold 98.7 109.0 (10.3) (9.4) Electrical Energy Sold including group companies(*) 109.8 120.0 (10.2) (8.5) FY2026 (Forecast) FY2025 (Result) CIF price: crude oil ($/b) approx. 90 71 FX rate (interbank) (yen/$) approx. 159 151 Nuclear power utilization rate - - Competitive impacts in sales <(approx.8.9)> Impacts of temperature and market etc. < ( approx. 1.4)>
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Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d . 12 * The amount is the total of the time-lag income and loss incurred at JERA and Miraiz. (Billion yen) [Reference] Image of Time Lag (Forecast) Elements of cost (fuel procurement) Elements of income (time lag from fuel procurement) ＜FY2025＞ ＜FY2026＞ Income 7.0 Loss -5.0
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Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d . Ⅱ Reference Data: Financial Results
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Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d . (Billion yen,%) 13 2026/1Q (A) 2025/1Q (B) Change (A-B) (A-B)/B Operating revenue 825.8 800.3 25.5 3.2 Share of profit of entities accounted for using equity method 56.5 42.6 13.9 32.6 Other 6.9 2.7 4.1 152.3 Non-operating income 63.4 45.3 18.0 39.9 Ordinary revenue 889.3 845.6 43.6 5.2 Operating expenses 850.9 732.3 118.5 16.2 Non-operating expenses 11.2 8.4 2.7 32.7 Ordinary expenses 862.1 740.8 121.3 16.4 <Operating profit > <(25.0)> <(67.9)> <(92.9)> <―> Ordinary profit 27.1 104.8 (77.6) (74.1) Provision or reversal of reserve for water shortage (0.0) 0.1 (0.1) ― Income taxes (7.3) 19.6 (27.0) ― Profit attributable to non-controlling interests (0.6) (0.2) (0.4) ― Profit attributable to owners of parent 35.2 85.3 (50.1) (58.7) Consolidated Statements of Income
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(Billion yen) 14 Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d . June. 30, 2026 (A) Mar. 31, 2026 (B) Change (A-B) Assets 7,641.9 7,652.7 (10.7) Liabilities 4,401.8 4,439.8 (38.0) Net assets 3,240.1 3,212.8 27.3 June. 30, 2026 (A) Mar. 31, 2026 (B) Change (A-B) Shareholders’ equity ratio (%) 41.5 41.0 0.5 Outstanding interest-bearing debt 3,363.9 3,233.4 130.4 (Billion yen) * *The breakdown of changes in outstanding interest-bearing debt is as follows. Impact of financing and repayment 121.9 billion yen Impact of changes in the scope of consolidation 8.4 billion yen Consolidated Financial Standing (Note) We have received a capital reduction distribution (recovery of investment) of 55.8 billion yen from the TB Investment Limited Partnership, in which we have invested.
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15 Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d . Forecast for FY2026 by Segments (Billion yen, %)[Ordinary Profit (Loss)] FY2026 (Forecast) (A) FY2025 (Result) (B) Change (A-B) (A-B)/B Miraiz <Ordinary Profit excluding time lag> (5.0) <approx. 0.0> 137.9 <approx. 135.9> (approx. 143.0) <(approx. 136.0)> (103.6) <(100.0)> Power Grid 30.0 47.5 (approx. 18.0) (37.0) JERA <Ordinary Profit excluding time lag> 125.0 <approx.125.0> 94.1 <approx. 89.1> approx. 31.0 <approx. 36.0> 32.7 <40.3> Others, Adjustment charge 35.0 11.3 approx. 24.0 209.7 (Repost) Real Estate Business 20.0 28.3 (approx. 8.0) (29.4) Total <Ordinary Profit excluding time lag> 185.0 <approx. 190.0> 291.0 <approx. 284.0> (approx. 106.0) <(approx. 94.0)> (36.4) <(33.1)>
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16 (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 Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d . FY2026 (Forecast) FY2025 (Result) R O I C 3.1 4.4 R O A approx.3 4.3 Miraiz approx.0 16.9 Power Grid approx.2 2.5 JERA approx.8 5.7 Real Estate Business approx.4 5.8 R O E approx.5 7.5 Shareholders’ equity ratio approx.41 41.0 Consolidated Financial Indicators (%)
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Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d . 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.
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Co p yr i g h t © Ch u b u E l e c t r i c P o we r Co . , I n c . A l l r i g h t s r e s e r v e d .