JERA Co., Inc. (“JERA”) has been assigned the following credit rating by S&P Global Ratings Japan Inc.:

1. Rating

Long-Term Issuer Rating : A－

Rating Outlook : Stable

2.Publication Date

7 December 2018

3.Objective of Obtaining Credit Rating

In implementing the business integration to take place in April 2019, JERA has obtained a leading global rating agency’s endorsement of its financial soundness. JERA will leverage the credit rating for various business purposes including diversification of funding sources.