March 22, 2022

Company name: ENECHANGE Ltd.

Representing:

Yohei Kiguchi, Deputy Director and CEO

Ippei Arita, Representative Director and COO

(TSE Mother Code No. 4169)

Requests:

Takuya Sugimoto, Managing Director / Chief Financial Officer

TEL: +81-3-6774-6709

Notice Regarding the Impact of Hope Energy’s Bankruptcy Proceedings

On March 22, 2022, it was announced that it had decided to initiate bankruptcy proceedings against Hope Energy, Inc. (hereinafter referred to as “Hope Energy”) by the parent company, Hope, Inc.

According to the announcement, Hope Energy’s business performance deteriorated due to the effects of rising power purchase prices, and the company defaulted on its obligations.

As a result, all consignment supply contracts with the general transmission and distribution companies were terminated and the company entered bankruptcy proceedings. The latest results rank Hope Energy 14th* in terms of electricity sales.

*Natural Resources and Energy Agency, “Electricity Demand Performance” (sales volume (kWh) as of November 2021)

1. Regarding the relationship between Hope Energy and ENECHANGE

Currently, ENECHANGE (hereinafter referred to as “the Company”) has no business relationship with Hope Energy.

2. The Company’s response

Although the impact of Hope Energy’s bankruptcy on its customers is unclear at this time, in order to provide correct and appropriate information to Hope Energy’s customers and to provide opportunities for customers who intend to change their Hope Energy contracts, the Company will set up the Hope Energy Consultation Office.

In the past, the Company has opened a service center for customers to provide appropriate information and support when new entrants have withdrawn their business.

3. Impact on the Company’s business performance

As the Company has no business relationship with Hope Energy, there is no direct impact on the Company’s business performance. We will disclose in due course if a material impact on the forecast is expected.



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