Notice Regarding Receipt of Shareholder Proposals

Overview of Shareholder Proposals

Electric Power Development Co., Ltd. has received a written notice from two shareholders jointly exercising their shareholder proposal rights in relation to the 74th Annual General Meeting of Shareholders scheduled for June 2026. The proposal requests the addition of an obligation to disclose the investment framework for major capital investments in the Articles of Incorporation, as well as comprehensive disclosure of the reduction costs and projected greenhouse gas emission reductions associated with each capital investment plan. The purpose is to enable investors to estimate the risk-adjusted return characteristics of capital investments.

Background of the Proposal and Future Response

The rationale behind the proposal is to promote long-term corporate value enhancement by addressing risks and opportunities related to the 2050 carbon neutrality target. The shareholders are requesting further disclosure on investment criteria and capital expenditure prioritization, as decisions by the Board of Directors on capital investments significantly impact future cash flows and emission results. Electric Power Development Co., Ltd. will carefully consider the proposal content and plans to promptly disclose the Board's views once they are finalized.