Equity Participation in e-Mobility Power Co., Inc.

e-Mobility Power Co., Inc. (President: Shoko Yotsuyanagi; Head Office: Minato-ku, Tokyo; "e-Mobility Power"), in which Tokyo Electric Power Company Holdings, Inc. (President: Tomoaki Kobayakawa; Head Office: Chiyoda-ku, Tokyo; "TEPCO HD") and Chubu Electric Power Co., Inc. (President & Director: Kingo Hayashi; Head Office: Higashi-ku, Nagoya; "Chubu Electric Power") hold stakes, entered into an absorption-type company split agreement on February 05, 2021 with Nippon Charge Service, LLC (Note 1) (Representative Partner: Mitsubishi Motors Corporation; Executor: Yosuke Wakabayashi; "NCS") and took over the charging service, charging network service, and other businesses for electric and other vehicles (Note 2) that NCS operates as of April 01, 2021.

Today, a total of seven companies, TEPCO HD, Chubu Electric Power, Development Bank of Japan Inc. (President: Hajime Watanabe; Head Office: Chiyoda-ku, Tokyo; “DBJ”) together four automobile manufacturers Toyota Motor Corporation (President and Representative Director: Akio Toyoda; Head Office: Toyota City, Aichi Prefecture), Nissan Motor Co., Ltd. (Representative Executive Officer, President and CEO: Makoto Uchida; Headquarters: Yokohama-shi, Kanagawa Prefecture), Honda Motor Co., Ltd. (President and Representative Director: Toshihiro Mibe; Head Office: Minato-ku, Tokyo), and Mitsubishi Motors Corporation (Representative Executive Officer and CEO: Takao Kato; Head Office: Minato-ku, Tokyo), received e-Mobility Power stock through third-party allocation of new shares totaling 15 billion yen. Both TEPCO HD and Chubu Electric Power increased their capital participation in e-Mobility Power and the four automobile manufacturers as well as DBJ made new investments in the company so that a new shareholder structure was formed that is comprised of seven companies.

As it leverages electrical installation, servicing, and maintenance technologies as well as know-how about operating electric power infrastructures developed by TEPCO HD and Chubu Electric Power in their electric power businesses along with knowledge and other expertise about international standardization and development that TEPCO HD has gained in its CHAdeMO Association (Note 3) activities, e-Mobility Power will, in cooperation with these electric power companies, four automobile manufacturers, and the DBJ, expand the charging network service of approximately 21,700 chargers (Note 4) nationwide acquired from NCS and offer an affordable and user-friendly charging environment for household and corporate customers, thereby promoting the adoption of electric and other vehicles and contributing to the realization of a carbon-neutral society.

[e-Mobility Power Shareholder Structure]

(Note 1) Nippon Charge Service was established in May 2014 with the aim of constructing a convenient EV charging network and services with capital participation from seven companies: Toyota Motor Corporation, Nissan Motor Co., Ltd., Honda Motor Co., Ltd., Mitsubishi Motors Corporation, Development Bank of Japan Inc., TEPCO Energy Partner, Inc. and Chubu Electric Power Co., Inc.

(Note 2) Electric automobiles and plug-in hybrid vehicles

(Note 3) CHAdeMO Association is an organization working to develop technology and maintain protocols for CHAdeMO, a quick charging system applying the same standard worldwide. Major charger manufacturers worldwide are CHAdeMO Association members, and approximately 50 manufacturers have commercialized CHAdeMO chargers. CHAdeMO has been established in approximately 90 countries globally and users of electric and other such vehicles worldwide are utilizing approximately 36,600 CHAdeMO charge points.

(Note 4) As of December 31, 2020