Slide 1: FY2022 Financial Results
Lf FY2022 Financial Results ended March, 2023 April 26, 2023 "E TOKYO GAS TSE:9531
Slide 2: FY2022 results versus targets and key contributing factors
Although the business landscape was clouded by uncertainties such as COVID-19 and increased market volatilit our business results far exceeded our KGI target, thanks to a competitive edge in access to raw materials and other Positive factors. More work needs to be done regarding our KPI targets for
Slide 3: Medium-term Management Plan Key figures
Medium-term Management Plan ( Announced: March 25, 2020) Key figures 3m (billion yen) FY2020 FY2021 FY2022 FY2020-22 FY2022 Results Results Results Results Target Overseas business +6 63.0 58.0 32.2 153.3 200.0 ) renewable cneray 20.2 38.8 2.5 617 110.0 Solutions, etc. +7 43.2 29.9 57.1 130.3 200.0
Slide 4: FY2022 Consolidated Financial Results
O01 FY2022 Consolidated Financial Results ended March, 2023 Note: Figures for the fiscal year ended March 31, 2022, represent figures after retroactive application and restatement following a change in accounting policies and changes in presentation, respectively. "FTOKYO GAS
Slide 5: FY2022 net sales and profit growth
In FY2022, net sales and profit grow on a profit attributable to owners of parent basis. Net sales totaled ¥3,289.6 billion, an increase of 52.7% or ¥1,134.8 billion year on year. This mainly reflects a rise in the unit sales price for city gas in tandem with resource cost adjustments in the Energy
Slide 6: Trends in assets and cash flows
This slide shows trends mainly for assets and cash flows. In FY2022, ROA stood at 8.3% and ROE at 20.0%, improving year on year in tandem with a growth in net profit. 6
Slide 7: Net sales and profit by segment
This slide depicts net sales by segment, segment profit and operating profit reflecting equity income/loss from subsidiaries and respective changes year on year. 7
Slide 8: Profit analysis by segment
This slide shows a profit analysis for each segment. Total profit growth for the Energy Solution segment and Network segment combined was ¥231.8 billion year on year. This is mainly attributable to a growth in the gross profit owing to the sliding time lag effect in the city gas business. In the ele
Slide 9: Comparison based on former segment classifications
The information on this slide is for reference. It is a comparison of sales and profits year on year based on former segment classifications, prior to the revision to segments in April of the previous year. 9
Slide 10: City gas sales volume
This slide shows the trends in city gas sales volume. City gas sales volume overall in FY2022 was 12,574 million m3, a decrease of 4.4% year on year. This was mainly due to a drop in residential demand reflecting high temperatures and a fall in customer demand for power generation. 10
Slide 11: Electricity sales volume
This slide shows electricity sales volume. In FY2022, electricity sales volume overall was 34,445 million kWh, an increase of 21.8% year on year. In retailing sales, the sales volume rose 6.3% year due to the increase in the number of contracts, and on year and in wholesale, it increased 32.1% year
Slide 12: Shareholder return: dividend and share buyback
In accordance with our shareholder return policy, we plan to payout an annual dividend per share of ¥65 as well as buy back a maximum of ¥113.0 billion or 53 million shares in FY2023. 12
Slide 13: FY2023 Full Year Forecast
02 FY2023 Full Year Forecast "FTOKYO GAS 13
Slide 14: FY2023 forecast for sales and profit
In FY2023, on a profit attributable to owners of parent basis, we forecast sales and profits will decline. The economic framework, the assumptions for our forecast, is a foreign exchange rate of ¥130/USD1 and USD90 per barrel for crude oil. We anticipate net sales of ¥2,897.0 billion, a decline of 1
Slide 15: FY2023 forecast for assets and cash flows
This is our forecast for assets and cash flows in FY2023. In FY2023, we estimate an ROA of 2.7% and an ROE of 6.5%, a deterioration versus FY2022 due to a decline in net profit. 15
Slide 16: FY2023 uses of cash flows
This slide shows uses for cash flows in FY2023. In addition to capital expenditures and investments by segment, going forward we also plan to present the progress we are making in the growth investments outlined in our new Medium-term Management Plan. 16
Slide 17: FY2023 Investments (Capex, Investments and financing)
FY2023 Investments (Capex, Investments and financing) 17 Reference: Br n of the M Term nent Plan for FY 2023-2025 une bition vers FY2023 Main It ee fee 2s 475.8 650.0 Overseas, Renewable power, Urban Development, etc Growth investments 211.9 Breakdown) portion for Breakdown) portion for ecarbonizati
Slide 18: FY2023 forecast by segment
This slide describes our forecasts for net sales and profits by segment and expected changes with results in the previous fiscal year. 18
Slide 19: Forecast profit changes by segment
The decline in profit of ¥245.1 billion year on year in the Energy Solution segment reflects expectations of a decrease in gross profit due mainly to the sliding time lag effect in the city gas business and a decrease in gross profit in tandem with impact from the economic framework in the electric
Slide 20: FY2023 city gas sales volume forecast
We estimate city gas sales volume of 12,009 million m3, a decrease of 4.5% year on year, due to a decline in sales volume to industrial customers. 20
Slide 21: FY2023 electricity sales volume forecast
We forecast electricity sales volume overall in FY2023 of 28,789 million kWh, a decline of 16.4% year on year. Although sales volume to electricity retail customers is expected to increase owing mainly to a rise in transactions, wholesale sales are likely to decline. 21
Slide 22: Profit change factors versus previous year
This table depicts changes in profit for each major change/element in comparison with the previous fiscal year. 22
Slide 23: Reference materials
As reference materials, in addition to the economic framework sensitivity analysis table, we are also including crude oil prices/forex rates, major topics for FY2022, and key overseas investment projects. 23
Slide 24: Gas Gross Margin Sensitivity to Crude Oil Price and Exchange Rate
Gas Gross Margin Sensitivity to Change in Crude Oil Price and Exchange Rate 24 BH Impact of rising JCC (japan Crude Cocktail Prices) by $1/bbl (Unit billion yen) Impact on earnings 1Q 2Q 3Q 4Q Full year 1Q -0.2 -0.5 +0.5 +0.4 +0.2 2Q _ -0.2 -0.7 +0.7 -0.2 Period 3Q = = -0.1 -0.9 -1.0 4Q _— _— — -0.1
Slide 25: Crude oil price - Exchange rate
Crude oil price - Exchange rate Crude oil price (Japan Crude Cocktail Prices) (s/bbl) 120.00 110.00 100.00 90.00 80.00 70.00 60.00 50.00 40.00 30.00 20.00 ef & SF SS —e-F¥2022 —e-FY2021 —e=F¥2020 Exchange rate (#/s) 150.0 145.0 140.0 135.0 130.0 125.0 120.0 115.0 110.0 105.0 100.0 \ sa A Ff Se FS —e
Slide 26: Key Topics in FY2022: Business & financial topics
Key Topics in FY2022 (Excerpted from Press Releases) 26 H Business & financial topics "1 Press releases issued by Tokyo Gas ‘Solutions (4) afi 2 Fen ene month Teena Launch of Non-FTT/FIP renewable ¢ balancing service (Apr.18) Number of electric power cont °3 million (Apr. ZTehoka Bie Food Recycle pl
Slide 27: Nonfinancial ESG topics
(2) Nonfinancial ESG topics es cher A 27 Major related materiality Cor for Carbon-neutral Urban Dé in Tsuchiura sie? for Carbon-neutral Urban De in Akishima City ( yi ve t for Carbon-neutral Urban De nent in A 24) nprehensive for Carbon-1 ity nprehensive for Carbon-neutral Urban Development in Tomio
Slide 28: Key Topics in FY2022 (Excerpted from Press Releases)
Key Topics in FY2022 (Excerpted from Press Releases) Tol Network, Osaka Gas Network and Toho Gas Network signed 2 rtnershit reement for ensuring safe and stable Sopely and sprescig the use of ety gas (Apr 0), si pe " Tokyo Gas Teunches Demand Response services and delves one-day worth of renewable e
Slide 29: Tokyo Gas Group Materialities
Key Topics in FY2022 (Excerpted from Press Releases) 29 ‘Tokyo Gas Group Materialities The Tokyo Gas Group strives to realize ESG-focused management and broadly contribute to achievement of the SDGs by respondingto materialities (key sustainability-related issues) through its business activities. Ma
Slide 30: ESG-related topics: Climate Change
Key Topics in FY2022 (Excerpted from Press Releases) 30 H ESG-related topics: Climate Change One of our aims under the Tokyo Gas Group Management Vision, Compass 2030, is to create value together with our customers, business partners, and society as a whole while becoming a leader in the future ener
Slide 31: ESG-related topics: climate change, hydrogen
Key Topics in FY2022 (Excerpted from Press Releases) 3 A BH ESG-related topics: climate change Another challenge set forth by the Tokyo Gas Group Management Vision, Compass 2030, is to lead the effort to achieve Net-Zero CO2. This commitment includes working to decarbonize gaseous energy by establis
Slide 32: Overseas Projects
Overseas Projects 32 Ares No e North America ° o Southeast Asi 8 co] 7] Oceania @ sls Gorger Production, liquefaction and sales of LNG 2009 a Curtis ‘and sales of LNG 2011 enthys Production, liquefaction and sales of LNG 2012 Europe © Penmark —TOW:I Renewables ‘Onshore wind power 2022 Copyright® 32
Slide 33: Changes in Disclosable Segments
Changes in Disclosable Segments (mapping of key changes) + In accordance with our approach to accounting management, we changed our classifications for legally disclosable segments in order to better align them with management practices under the holdings-type group structure instituted in FY2022 (u
Slide 34: Cautionary Statement regarding Forward-looking Statements
"F TOKYO GAS < Cautionary Statement regarding Forward-looking Statements > Statements made in this presentation with respect to Tokyo Gas’s present plans, forecasts, strategies and beliefs, and other statements herein that are not expressions of historical fact are forward-looking statements about t