Korea Electric Power Corporation · KRX:015760
Korea Electric Power — Q1 2026 Earnings Presentation
29 slides from Korea Electric Power's earnings presentation, May 13, 2026
Slide 1: Investor Presentation Korea Electric Power Corporation Q1 2026
€3 KEDCO Investor Presentation Korea Electric Power Corporation Q1 2026
Slide 2: Disclaimer
Disclaimer This presentation material is being presented to you solely for your information and may not be taken away by you and may notbe reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose. This presentation materia
Slide 3: Contents
Contents Q| Company Overview Q? Roadmap to Net Zero Q3 Business & Operation O4 Financials Appendix
Slide 4: 01 Company Overview
Slide 5: KEPCO key figures: total assets, revenue, sales, power sales volume
Total assets Revenue Sales of electricity Power sales volume
Slide 6: Company Overview
€D KEDCO 01. Company Overview Strategic Importance to Government %@ | Shareholding Structure (as of Mar 31, 2026) Employee Stock Pe kcrcont ne . Ce The National Act on the Management of cf , ee Public Institutions Electricity Business Act Pension Fund, 7.2% Power Supply and Demand . Korea Devel t En
Slide 7: Fitch Ratings
▍ “The very high support assessment for KEPCO reflects its essential public policy role, its strategic importance in supplying power as the country's sole integrated power utility, and the government's low tolerance to the reputational and contagion risks that would result from the KEPCO’s financial
Slide 8: Overview of KEPCO Group
Overview of KEPCO Group — 01. Company Overview Korean Government (51%) Transmission 1Q 2026 Consolidated & Total assets: KRW257.8tn Total revenue: KRW24.4tn distribution 1Q 2026 Separate Total assets: KRW146.0tn Total revenue: KRW23.7tn (100%) (100%) (100%) (100%) (100%) (100%) @& np Koen KOEN | | G
Slide 9: 02 Roadmap to Net Zero
Slide 10: Korea's Roadmap to Net Zero
Korea’s Roadmap to Net Zero €3KEDco 02. Roadmap to Net Zero | 2050 Net Zero Roadmap Korea’s Carbon Emission Reduction Plan (in milton co2eq) Key Net Zero Strategies » Shut down of aged coal power plantsand mixed generation with hydrogen ~61Y 53-61% ”, ; ‘a Energy andammonia reduction by Transformati
Slide 11: 11th Basic Plan for Long-term Electricity Supply and Demand
€3KEDco 02. Roadmap to Net Zero 11th Basic Plan for Long-term Electricity Supply and Demand | Basic Policy | Electric Power Supply Plan ® Stably respond to the increasing power demand from emerging sectors such as Al and semiconductors Newly Required Target Capacity oan © Harmoniously utilize variou
Slide 12: Investment Plan
€3KEDco 02. Roadmap to Net Zero Investment Plan | Nationwide Capacity Outlook (Unit: MW) Current Capacity Netl ase rei Dec 31, 2025 % 2028-2030 2031-2038 Total End of 2038 Nuclear 26,050 17% 1,400 1,400 - 5,600 8,400 34,450 Coal 32,059 20% -1,500 -2,620 -4,900 -9,520 — -18,540 13,519 KEPCO LNG 17,61
Slide 13: KEPCO Group's Commitment to Net Zero
KEPCO Group’s Commitment to Net Zero — 02. Roadmap to Net Zero | ZERO For Green ¢ ; GREEN 2 SR Ro Fay OF Tt Zero Emission Reliable Energy © Abort coal-based generation by 2050 © Improve efficiency of electricity grid network 0 Scanetentedinatedsstinatincymemmer © Expansion of offshore windpower , so
Slide 14: KEPCO Group's Exit Plan from Coal by 2050
KEPCO Group’s Exit Plan from Coal by 2050 — 02. Roadmap to Net Zero | Timeline and Targets | Offshore Coal Projects for) 11 Units (reduced capacity 3.8GW) v No Additional Coal Project (Announced Oct.2020) net units of Coal Plants abolished since 2017 “Exit Coal in Multiple Stages ¥ Environmentally E
Slide 15: ESG Governance Structure
ESG Govermance Structure | Structure Overview €3KEDco 02. Roadmap to Net Zero ESG Governance © Strengthen ESG management © Conduct ethical management and enhance anti-corruption system © Establish cooperative relationship based on fair trade oT} £28 Ethics & Compliance ESG Committee Committee under
Slide 16: 03 Business & Operation
Slide 17: Power Sales
Power Sales 03. nuinecuoeene, | Historical Power Sales Growth Power sales volume(TWh) === Power sales growth(%) === GDP growth(%) 546 550 549 526 520 509 533 548 497 508 12 ‘13 ‘14 15 ‘16 ‘7 ‘18 ‘19 ‘20 ‘21 "22 '23 "24 "25 '26.1~3 2 Based on Monthly Electric Power Statistics by KEPCO | Power Sales S
Slide 18: Tariff Status
Tariff Status = 03. Business & Operation | Unit Price (Seles / Purchase) === Unit Sales Price(KRW/kWh) == Unit Purchase Price(KRW/kWh) 174 «176 175 176 180 aa UT 75 174 162 116 145 116 24.1 2 3 4 5 6 7 8 9 10 11 12 ’251 2 3 4 5 6 7 8 9 10 11 12 ’261 2 3 3X Based on Monthly Electric Power Statistics
Slide 19: Generation Mix
Generation Mix €D KEDCO 03. Business & Operation | Generation Mix | Capacity Mix ME LNG) «=< Coal Nuclear Renewable / Others HLNG) §$MiliCoal Nuclear Renewable / Others mm md fe - 27% HM 31% I 31% 19% BM 21% BR 22% 320% fl 29% INN 29% 30% 53% “* 43% I 38% 9 2300 Ml 22° I 30% 3% fo I 38% a7 fi 25 EN
Slide 20: Overseas projects by region
Jordan UAE China United States Fujeij Wind 89MW Barakah 5,600MW Shanxi 1 8,150MW California Photovoltaic 235MW Al-Qatrana 373MW Shuweihat 1,600MW Shanxi Photovoltaic1 2,399MW Guam Photovoltaic 60MW Amman 573MW HVDC Submarine Power Cable Inner Mongolia Wind 1,024MW Yona Photovoltaic 132MW BESS Guam U
Slide 21: 04 Financials
Q4 Financials
Slide 22: Earnings Highlights
Earnings Highlights (a: 2024 | Earnings Summary Operating Cost of sales Operating Revenue and SG&A Profit Kew 24.4tr = krw 20.6% = rw 3.8in (YoY +0.7%) (YoY +0.7%) (YoY +30.6bn) €D KEDCO 03. Financials Operating Cost of sales Operating Revenue and SG&A Profit Kew 23.7in — KRW2 7.6% = knw 2. Ten (YoY
Slide 23: Capital Structure
Capital Structure | Capital Structure (Mar 31, 2026) €D KEDCO 03. Financials | Debt Ratio & Interest Rate Other liabilities 78.2tn Other liabilities 34.1tn Equity 51.4tn Equity “: 28.8tn Consolidated Separate Debt 83.1tn Debt 128.2tn | Debt Composition (Mar 31, 2026, KEPCO and 6 GENCOs) —O= Interest
Slide 24: Domestic Investment Plan
€D KEDCO 03. Financials Domestic Investment Plan | KEPCO Group’s Capital Expenditure (KEPCO and 6 GENCOs) (KRW bn) @ Others(IT/intangibles) New&Renewable 23,127 1Q 2026 Expenditure Thermal(Coal&LNG) 963 mNucear Total KRW 4..5tn mT&D 18,689 16,781 15,582 T & D construction KRW 895.3bn, O&M KRW 172.7b
Slide 25: ▍ ▍ 20% 20.0% 60% 20% -20% -20.0% -20% -60% -60% -60.0% ▍ ▍
▍ ▍ 20% 20.0% 60% 20% -20% -20.0% -20% -60% -60% -60.0% ▍ ▍ 60% 12 20% 4 -20% -4 -60% -12
Slide 26: Appendix
Appendix
Slide 27: Listing Status
Appendix | Listing Status suttekser-lesau 641,964,077 common shares Korean Government 18.2% Korea Development Bank 32.9% Unelaigiie Korea Exchange (KRX) Sirleured(ellam Foreigners (Underlying) 19.5% shares Listed in August 1989, Ticker 015760 (ADR) 2.3% New York Stock Exchange(NYSE) Others 27.1% Lis
Slide 28: Income statement and balance sheet tables
Appendix (KRW bn, %) 25.1~3 °26.1~3 YoY (KRW bn, %) 25.1~3 26.1~3 YoY 1, Revenue 24,224 24,398 0.7 1. Revenue 23,861 23,709 — -0.6 Sales of electricity 23,211 23,223 0.1 Sales of electricity 23,517 23,405 0.5 Others 1,013 1,175 16.0 Others 344 304-116 2. Cost of sales and SG&A 20,470 20,614 0.7 2. C
Slide 29: Thank You
Thank You Global Energy & Solution Leader 77) KEDCO