Recording of Gain on Sale of Investment Securities (Extraordinary Income)

Chubu Electric Power Co., Inc. (“Chubu Electric Power”) announces that it has sold of a portion of its securities holdings and has realized a gain on sales of investment securities (extraordinary income) as described below.

1. Reason for sale of investment securities

To review cross-held shares in accordance with the Corporate Governance Code and strengthen Chubu Electric Power’s financial position

2. Period when gain on sales of investment securities will be recorded

3rd quarter of the fiscal year ending March 31, 2023

3. Details of sale of investment securities

(1) Shares sold: 1 issue of the listed securities held by Chubu Electric Power

(2) Gain on sales of investment securities: 43.6 billion yen

4. Future plans

The above gain on sales of investment securities will be recorded as an extraordinary income in the 3rd quarter of the fiscal year ending March 31, 2023. This is reflected in the consolidated financial forecast for the fiscal year ending March 31, 2023, announced on October 28, 2022.