Financial Results for the Third Quarter of Fiscal Year ending March 31, 2026 (FY2025)

TOHOKU ELECTRIC POWER CO., INC.

January 30, 2026

Financial Results for the Third Quarter of Fiscal Year ending March 31, 2026 (FY2025)

Tohoku Electric Power Co., Inc. released its financial results for the third quarter of FY2025 (April 1, 2025 through December 31, 2025) today.

【Consolidated Financial Results】

Total electricity sales volume decreased due to factors such as contract switching resulting from increased competition, but wholesale electricity sales volume to areas outside our service area increased, resulting in a total electricity sales volume of 57.4 TWh (2.9% increase year-on-year).

Operating revenue amounted to 1,727.2 billion yen, a decrease of 193.2 billion yen (10.1%) compared to the same period of the previous year, mainly due to a decrease in electricity sales (retail).

Ordinary income decreased by 19.8 billion yen (10.8%) year on year to 163.6 billion yen, despite of improved earnings due to the restart of the Onagawa Nuclear Power Station Unit 2 and an increase in gains due to the time lag effect of the fuel cost adjustment. This was due to weak earnings resulting from changes in the market and sales environment, as well as increased power supply-demand balancing costs in the transmission and distribution business.

Net income attributable to owners of the parent was ¥115.7 billion, a year-on-year decrease of ¥12.1 billion or 9.5%.

There are no changes to the earnings forecast for FY2025 from the figures announced in April 2025.

Key points of financial results and forecas ts

• Operating revenue Â¥1,727.2 billion (YoY decrease of Â¥193.2 billion)

• Ordinary income Â¥163.6 billion (YoY decrease of Â¥19.8 billion)

• Net Income Attributable to Owners of Parent

  ¥115.7 billion (YoY decrease of ¥12.1 billion)

  Financial and Dividend Forecasts for FY2025

  *In light of the current conditions, the reference value for ordinary income excluding the time-lag effect of the fuel cost adjustment has been revised to 170.0 billion yen.

• Operating revenue Â¥2,450 billion

• Ordinary income Â¥190 billion

• Dividend Interim 20 yen / Year-end 20 yen (forecast) / Full year 40 yen (forecast)

Summary of Financial Results

• Operating Revenue Â¥1,727.2 billion (YoY decrease of Â¥193.2 billion）

  ・・・Operating revenue decreased mainly due to factors such as a decline in retail electricity sales.

• Ordinary Income Â¥ 163.6 billion (YoY decrease of Â¥19.8 billion）

  ・・・Although there were positive factors, such as the restart of Onagawa Unit 2 and an increase in profits due to the time-lag effect of the fuel cost adjustment, ordinary income decreased due to weak earnings resulting from changes in the market and sales environment, as well as increased power supply-demand balancing costs in the transmission and distribution business.

• Net Income Attributable to Owners of Parent

¥ 115.7 billion (YoY decrease of ¥12.1 billion）

【Summary of Consolidated Financial Statements 】

*1 Lower figures in [ ] exclude the time-lag effect of the fuel cost adjustment

*2 Equity ratio assuming 50% of the issued amount (Â¥140 billions) of the issued hybrid bonds as equity capital

(Â¥ billion)

• Although there were positive factors, such as the restart of Onagawa Unit 2 and an increase in profits due to the time-lag effect of the fuel cost adjustment, ordinary income decreased due to weak earnings resulting from changes in the market and sales environment, as well as increased power supply-demand balancing costs in the transmission and distribution business.

• Consolidated ordinary income was Â¥163.6 billion, decreased by Â¥19.8 billion year-on-year. (Excluding the time-lag effect of the fuel cost adjustment, consolidated ordinary income was Â¥141.6 billion, decreased by Â¥31.8 billion year-on-year.)

FY2024/3Q

FY2025/3Q

+10.0

+22.0

YoY decrease of ¥19.8 billion

(Â¥ billion)

Fuel cost adjustment lag

Diff in the time-lag effect of the fuel cost adjustment (Increased marginal profit)

12.0

47.0

Restart operation of Onagawa Unit 2

(44.0)

Changes in the market and sales

Distribution and transmission business

(27.2)

Others

(7.6)

Fuel cost

adjustment lag

22.0

10.0

(Reduction in fuel costs)

environment

Ordinary income excluding the fuel cost adjustment lag

173.5

*See the next page for details

Ordinary income excluding the fuel cost adjustment lag

141.6

YoY decrease of ¥31.8 billion, excluding the fuel cost adjustment lag)

Changing Factors in Consolidated Ordinary Income

from the Corresponding Period Last Year

Time Lag Effect of Fuel Cost Adjustment

• The time-lag effect of the fuel cost adjustment increased to marginal profit of Â¥22.0 billion in FY2025/3Q, from

marginal profit of ¥10.0 billion in FY2024/3Q, resulting in a profit of approx. ¥12 billion.

Profit improved by approx. ¥12 billion,

compared to the same period last year

Marginal profit of ¥10 bil in FY2024/3Q

Marginal profit of ¥22 bil in FY2025/3Q

Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

＜FY2024＞ ＜FY2025＞