An electronic component includes a capacitor body, and first and second external electrodes disposed and spaced apart from each other on a mounting surface of the capacitor body. The electronic component further includes first and second connection terminals respectively connected to the first and second external electrodes and having first and second cutouts, respectively. The electronic component also includes a first plating layer covering the first external electrode and the first connection terminal, and a second plating layer covering the second external electrode and the second connection terminal.