Investment in Simply Blue Energy

Investment in Simply Blue Energy

October 31, 2025 The Kansai Electric Power Co., Inc.

Kansai Electric Power Co., Inc. ("KEPCO") today announced that it will ma ke an equity investment in Simply Blue Energy OSW Ltd. ("SBE"), an offshor e wind development company based in the Republic of Ireland, and has sign ed a Share Subscription Agreement accordingly.

This marks our first investment in an offshore wind developer.

SBE is actively engaged in multiple offshore wind projects, mainly across Europe, and possesses extensive experience and expertise in offshore wind development from the early stages of project formation.

We have been accumulating expertise in offshore wind power developme nt through our participation in both domestic and international offshore win d projects, including demonstration projects for floating offshore wind powe r.

This investment will support SBE in accelerating the expansion of its offs hore wind portfolio in Europe and beyond, while also enabling KEPCO to fu rther accumulate knowledge and experience in offshore wind development.

Hugh Kelly, Co-Founder and CEO, Simply Blue Group said: "This investm ent represents a pivotal moment for us at Simply Blue Energy OSW Ltd. Th e support from KEPCO provides the strength and resources needed to scal e our operations and advance our offshore wind initiatives. Together, we ar e poised to deliver significant contributions to clean energy transition."

Toru Kuwahara, Executive Vice President and General Manager of Global EX Division of KEPCO said:"We are honored to embark on a partnership wi th Simply Blue Energy, a developer possessing a pioneering spirit and exten sive expertise in the field of offshore wind power. Through this collaboratio n, we aim to further advance offshore wind development for both compani es and contribute to achieving a carbon-neutral society."

Under the Kansai Electric Power Group Zero Carbon Vision 2050, we aim to develop 5 GW of new renewable energy capacity in Japan by 2040, for a total capacity of 9 GW. We will continue promoting renewable energy an d contributing to the realization of a carbon-neutral society.

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Appendix: Overview of Simply Blue Energy

Overview of Simply Blue Energy

Kansai Electric Power Co., Inc. will acquire a majority stake in Simply Blu e Energy Ltd. through its wholly owned subsidiary, KPIC Netherlands B.V..