#1JR FY2021.3 Financial Results JR-EAST TOHOKU MaaS 巡るたび、 出会う旅。 東北 2021.4.1-9.30 JUUL JUL Ayy April 30, 2021 1 王 East Japan Railway Company#2Contents I FY2022.3 Business Management in Anticipation of a Post-COVID-19 Society Changes in the business environment and our management 4 Cost Reduction Results and Plan Management Policies amid Speed up "Move up" 5 Transportation - Results and Plan Initiatives since Announcing Speed up "Move up" 7 Retail & Services - Results and Plan Policies for FY2022.3 6 Real Estate & Hotels Results and Plan - Improve Profitability (Rebuild Growth and Innovation Strategies) 10 Hotel Operations - Overview Structural Reform (Drastic Strengthening of Management Structure) Implement ESG Management Numerical targets for specific actions (FY2026) and FY2021 results FY2022.3 Plan (non-consolidated / consolidated) Plan for the use of cash in FY2022.3 52222 15 Main Projects and policies 20 Others- Results and Plan Summary of Non-operating Income / Expenses and Extraordinary Gains / Losses (consolidated) 32 33 34 35 36 37 38 39 40 23 Summary of Cash Flows (consolidated) 41 24 Change in Capital Expenditures (consolidated) 42 II FY2021.3 Financial Results and FY2022.3 Plan Change in Interest-bearing Debt Balance (consolidated) 43 FY2021.3 Financial Results 26 Fund-Raising 44 and FY2022.3 Plan (non-consolidated / consolidated) Passenger Revenues - FY2021.3 Results 27 III Reference Materials Passenger Revenues - FY2021.3 Results and FY2022.3 Outlook 28 >Financing and Money usage Passenger Revenues - FY2022.3 Plan 29 Operating Expenses (non-consolidated) - FY2021.3 Results 30 Cost Reduction Plan (non-consolidated) 31 >Numerical Targets of "Move Up" 2027 (FY2026) >Capital Expenditures Plan (consolidated) >Debt Management Policy >FY2022.3 Traffic Volume and Passenger Revenues - Plan >Suica >Mobile Suica / eki-net / JRE POINT >Additional Information for bond Investors Operating Expenses (non-consolidated) - FY2022.3 Plan 32 JR JR-EAST#3I FY2022.3 Business Management in Anticipation of a Post-COVID-19 Society JR JR-EAST#4Changes in the business environment and our management R JR-EAST From the provision of services with railway infrastructures as our basis to the introduction of new values to society, focusing on the affluence of everyone in the daily lives. Base point Affluent lives for all people Creating new services by introducing technologies and knowledge from outside the company, by utilizing a multilayered "real" network and stations as hubs for interaction Realize the JR East Group Management Vision "Move Up" 2027 by raising the speed and level of forward-looking initiatives Practice ESG manage ment + Rebuild growth and innovation strategies Strengthen management efficiency fundamentally Offering new values to society by staying ahead of changes in the business environment -----Speed up "Move up" 2027 (Released at Sep. 2020) Changes in the business environment because of COVID-19 JR East Group Management Vision "Move Up" 2027 New Numerical target of "Move up"2027(FY2026) (Released at Jan.2021) (Time) 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 4#5Management Policies amid Speed up "Move up" (1) Raising the level and speed of forward-looking initiatives to realize "Move Up" 2027 JR JR-EAST ■ Proposing new lifestyles and taking on the challenge of new fields by combining JR East's strengths in real networks and digital technologies ■Tackling structural reforms while working to restore the profitability of transportation services ■ Accelerating the growth of life-style services and IT & Suica services to achieve a 6:4 ratio between the operating revenue of the Transportation segment and that of other segments by FY2026.3 while aiming to achieve a 5:5 ratio as soon as possible Transportation service IT & Suica service ■Metropolitan area network Ticketless, cashless Interurban network ■Share office service Travel, Tourism business JRE POINT Suica Data marketing JRE POINTが「貯まる」「使える」 JRE MALL ふるさと納税 ビューカード利用で最大3.5%ポイント TOHOKU Maas Mobile Suisa Online shop Logistics service Real estate business Life-style service ■Urban development Create new values through Group's strength 5#6Management Policies amid Speed up "Move up" (2) JR JR-EAST Rebuild growth and innovation strategies Strengthen management efficiency fundamentally Planning cost Support work-style reform Propose Improve Cash Flows Reduce fixed costs even new Create real digital lifestyles (strengthen e-commerce) lifestyle ideas reductions of approximately ¥150.0 billion (FY2021) further, revise investment needed for the continuous operation of business Attractive town development Provide reassurance and cleanliness as well as transportation and trips avoiding "Cs" New transportation and trips enabled by MaaS and digital technologies Expand businesses catering to contactless needs Integrate Group strategies for customers Take on challenges in new fields Logistics services that utilize trains Business alliances with start-up companies, etc. (regional agriculture, utilization of unmanned railway stations, etc.) Utilize JR-East Group Utilize robots Enhance productivity Assets (Share 5G antenna infrastructure, etc.) Provide Services Reflecting Changes in Usage Development overseas businesses Practice ESG management Zero-Carbon Challenge 2050 Contribute to regional revitalization Optimize Group management Establish efficient sales systems (ticketless, cashless) Increase driver-only operation, consider autonomous driving Accelerate smart maintenance, shorten construction lead times through new construction methods Reform duty execution systems Revise fundamental components of operations (transportation timetables, etc.) Streamline facilities, Rigorously analyze railcar replacement cycles Seek even greater business profitability in large-scale projects Reorganize the Group (efficient operational management) 6#7Initiatives since Announcing Speed up "Move up" (1) Revised Timetables for Last-Train and First- Train Services Revised timetables for last- train services 18 line segments Revised timetables for first-train services 5 line segments Increased the speed of upgrading and maintenance to enhance services and to implement work-style reform for railway construction work and catered to changes in customers' behavior that have resulted from COVID-19 New JRE POINT Awards Launched new JRE POINT awards to suit increasingly diverse commuting styles JRE POINT JRE POINT \3.15 START/ Registered users 新大宮 Off-Peak Point Service \3.1 START/ Repeater Point Service 0000 0.00 Suted Approx.340,000 Sulca Su ca on April 25 Users in March Approx. 390,000 JR JR-EAST Introduced Automatic Train Operation (ATO) Devices and (Increased Line Segments with) Driver-Only Services, etc. Introduced and began using ATO devices on the Joban Line (local services) J Conducted test runs of a large autonomous driving bus specifically designed for BRT Began Introduction of Regional Collaboration IC Cards Unique regional services, such as bus commuter passes and discounts Suica services, such as tickets and electronic money that can be used in the Suica area, etc. Future roadmap (plan) Introduction in March 2021 Tochigi Prefecture totra Iwate Prefecture Iwate Green Pass Spring 2022 Akita Prefecture, Yamagata Prefecture, Gunma Prefecture Aomori Prefecture (Aomori area, Hachinohe area) Iwate Prefecture (additional transportation operators) Increased driver-only services Uchibo Line, Sotobo Line, Kashima Line, Oga Line, Mito Line 2in1 tetra Promoting introduction outside of the Suica usage area Spring 2023 Tochigi Prefecture (additional transportation operators) From spring 2023 onward (Reference) Expansion of railway area Suica to be usable at 44 railway stations in Aomori Prefecture, Iwate Prefecture, and Akita Prefecture 7#8Initiatives since Announcing Speed up "Move up" (2) Expanded STATION WORK FY2026.3 target Establish shared offices at 1,200 locations in total Established a network of 134 locations nationwide from Hokkaido to Okinawa as of the end of FY2021.3 Established Japan's first shared office on a platform Expanded JRE MALL Participation in Hometown Tax Payment Enabled donations through JRE POINT ■Taking on the challenge of OMO Planning to open a new-format, OMO-compatible BELLE MAISON store in Tokyo Station this spring Further Rollout of Logistics Services That Utilize Trains JR JR-EAST FY2026.3 target JRE MALL transactions of ¥130.0 billion OMO...Online Merges with Offline Designated pickup points at railway stations and Ekinaka (inside railway stations) Online Purchase online Delivered to own home Extend logistics services developed for Ekinaka sales (inside railway stations) to areas outside railway stations In cooperation with JR East Logistics and JR Hokkaido, began regular logistics services using the Hokkaido and Tohoku Shinkansen on April 15 Largest transportation volumes currently Order online and pick up Ekinaka Order online after seeing the product Ekinaka Products can be picked up, tried on, and returned Offline Product quality and size can be checked Ekinaka Data Marketing Integrating online and in-store marketing through JRE POINT data Future direction Deepen cooperation with other companies Aim to expand services Goods transported Volume Frequency of transportation Shipper Fish 60 cases Approx. 250 days/year (days market open) Box lunches 4 cases (approx. Carry in 80 meals) Every day JR EAST LOGISTICS JR-Hokkaido (depositary) Shin-Hakodate-Hokuto Station STATION JR-East (depositary) Tokyo Station STATION Utilization of vacant space in operations rooms Delivery, sale Transportation partners Delivery destination Tokyo area Restaurants, etc.■ 8#9Policies for FY2022.3 Return to Profitability in FY2022.3 (Non- Consolidated and Consolidated) Improve Profitability (Rebuild Growth and Innovation Strategies) Implement Structural Reform (Drastic Strengthening of Management Structure) Implement ESG Management Make Safety the Top Priority JR JR-EAST 9#10Improve Profitability (Rebuild Growth and Innovation Strategies) (1) "Beyond Stations" Concept JR JR-EAST Go beyond existing roles as transportation hubs where people pass through and gather and transform railway stations into lifestyle platforms that connect Respect the value that railway stations have created as real transportation hubs, and while utilizing this strength, realize "affluent lifestyles" that only we can provide Further strengthening of digital points of contact with customers Development of shared offices 1,200 locations in total Use of Suica and other public transportation electronic money 500 million transactions per month Introduce pickup points to railway stations Introduce showrooms to railway stations JRE MALL transactions ¥130.0 billion GEN RAK YORK Healthcare railway stations Share Service GET GET Station ledical Station Work Beyond Station Subscription services JRE Station College Media Station JRE POINT 25 million members 10#11Improve Profitability (Rebuild Growth and Innovation Strategies) (2) Establishment of JR East Real Estate Management Co., Ltd. Aims Establish a "rotational business model" that incorporates properties developed and owned Reinvestment by the Group and reinvests acquired funds in growth areas ■Further speed up JR East's lifestyle and town development through the real estate fund business ■Strengthen the real estate business through the asset management business and create new value integrated with the Group's strengths Future Prospects Aiming to accelerate the formation of private placement funds and increase the scale to ¥100.0 billion within a few years Consider the formation of a real estate investment company (REIT) Sulca The Group's growth The JR East Group Life-style services IT & Suica services Transportation services Creation of new value integrated with the Group's strengths Reinvesting acquired funds in the growth areas of JR East Group businesses Development of towns with diverse appeal and development of lifestyles based on real x digital JR JR-EAST Incorporation of developed properties, etc. Development profit Creating investment capital through real estate funds Secure development profit and enhance capital efficiency Establish JR East Real Estate Management Co., Ltd., and establish a real estate asset management business Establish a "rotational business model" that accelerates the JR East Group's growth Rotational business model Long-term-ownership business model Speed up transformation by strategically using the two separate business models for different purposes 11#12Improve Profitability (Rebuild Growth and Innovation Strategies) (3) Tohoku Destination Campaign 10 years after the earthquake, build a "legacy" that will attract visitors to and revitalize the Tohoku region going forward April 1-September 30, 2021 Six Tohoku prefectures Aomori Prefecture, Iwate Prefecture, Miyagi Prefecture, Akita Prefecture, Yamagata Prefecture, and Fukushima Prefecture TOHOKU MaaS TOHOKU Maas In addition to operating special campaign trains based on such themes as cuisine, alcoholic beverages, and spectacular scenery, propose fun ways to travel using TOHOKU MaaS ■Develop the Tohoku MONO branding project to uncover the charms of Tohoku Introduce tourism-type MaaS in earnest Implement during the Tohoku Destination Campaign (8 areas in 6 prefectures) After the campaign ends, plan to refine MaaS and deploy it again in the Tohoku region Before departing Convenient Travel planning service Recommendations function On-demand transportation reservation and payment Electronic transportation tickets (free-pass type) transportation Electronic transportation tickets (limited capacity Enjoying the area express buses, etc.) Railway station car rental reservations Activities (hands-on experiences, tours, dining, etc.) Electronic tickets Numerical targets Number of newly registered members Number of electronic 30,000 transportation tickets sold 30,000 Number of electronic activity tickets sold 30,000 On-demand transportation On-demand rideshare transportation service that allows passengers to make reservations easily when they want to go and explore tourist spots freely As well as sightseeing spots, enabling a wide range of use, including stores and facilities used in daily life Hirosaki, Kakunodate, Ichinoseki, Akiu (Sendai) Develop in each region TOHOKU JR JR-EAST 巡るたび、 出会う旅。 東北 東北 MONO 2021.4.1-9.30 OMMONS 青森・弘前 エリア 秋田・男エリア Aktu 角館エリア エリア -- 平泉エリア 仙台・宮城エリア。 エリア 会津エリア 12#13Improve Profitability (Rebuild Growth and Innovation Strategies) (4) Create new close range tourism (pursuing micro-tourism) A new Hiking from the Railway Station app that makes hiking easy Release the Hiking from the Railway Station app, which for day-trip walking events based around railway stations enables non-face-to-face registration of participants, course searches, and entry into prize competitions Promote a transformation in purchasing style Consider the launch of free passes, such as passes within Tokyo wards, that can be used through Mobile Suica All brunches arrange the rallies that customers can attend any time Getting new customers with the make use of JRE POINT ■Use Off-Peak Points and Repeater Points to entrench new commuting styles STATION WORK-linked campaign based on accumulated points ■Encourage railway use through point-reward measures that combine specially planned IC tickets and the use of station buildings ■Point discount campaign for green car (600pt on usual ⇒ 500pt on campaign) Boost the demand of occasional users through Repeater Points 10回達成で 五貨1回分 ポイント還元 JRE POINT 11回以上のご利用で 10回を超えると 毎回運賃の10% ポイント還元 • Start the service at shared office ⚫JRE MALL, station building, etc. S STATION WORK JRE MALL ARAM 9 www.w JR JR-EAST Images of screen Goshuin rally at Ōme Line and Itsukaichi Line 44* 青梅驛 START! New Style GREEN CAH Scene at Green Car atré atré STATION WORK Station building 13#14Improve Profitability (Rebuild Growth and Innovation Strategies) (5) Renewal New system will be released on July 27th Image of new eki-net 17:13 1 予約番号:E81173 乘車券、新幹線特急券 東京 新函館北斗 Supply useful, 2021年3月9日 06.32出発 10:53造 comfortable, and low-priced travel グリーン 9号車1番A席 JR JR-EAST Begin enabling the use of JRE POINT for the acquisition or the upgrading of Shinkansen e-tickets and the privilege tickets of conventional line ticketless services Enable Shinkansen e-ticket reservations that include Otona no Kyujitsu Club discounts and shareholders' preferential discounts Enable payment at convenience stores and financial institutions in addition to conventional credit card payments Begin supplying JRE POINT by buying tickets through eki-net Save up Use 申込が完了しました 日 カレンダーに予定を追加 お気に入り登録する えきねっと Integrate eki-net IRE POINT point to JRE POINT Begin exchange from JRE POINT to benefit tickets Getting touring supply by online travel products Maximize the use of available seats by implementing limited-time offers through the variable-price travel product JR East Dynamic Rail Pack Proceeding workation by partnership with SEIBU PROPERTIES Inc. and NOMURA REAL ESTATE DEVELOPMENT Co.,Ltd. Plan to leverage the strengths of shared-office services and open workation facilities in KARUIZAWA PRINCE SHOPPING PLAZA Scheduled to open in July 2021 ダイナミックレールパック ル エタイムセ 期間 限定 Proceeding the Flexible Space Project by partnership with KDDI CORPORATION Create various workstyles that free from time and places by making use of both traffic and communication technologies. Advance "Flexible Space" Project Promote core-city "Shinagawa development" project 14#15Structural Reform (Drastic Strengthening of Management Structure) (1) JR JR-EAST Reduce railway business Operating Costs* by ¥100.0 billion in FY2028.3 compared to FY2020.3 Aim for a flexible cost structure reflecting usage changes in post-COVID-19 society and future population decline *Operating expenses, except of depreciation and taxes Cost Reductions in FY2021.3 Personnel expenses Reduction Amount Main Structural Reforms under "Move Up" 2027measures (\billion) -10.0 Streamline operation systems, Establish an efficient sales system, etc. Reduction of bonuses Non- Advance Maintenance Rigorously analyze the timing of personnel (railcars) parts and materials replacement expenses Maintenance (general) Postpone or cancel certain structural reform measures Smart maintenance (CBM, Mechanization, etc.) System changes (Use new technologies, etc.) items Streamline operation systems (Revise timetables for last-train, etc.) Streamline facilities (Reduce ticket vending machines and automatic ticket gates) -20.0 Curb security consignment Outsourcing and other expenses, publicity and advertising expenses, and goods expenses, etc. Actual and Projected Operation Costs Establish an efficient sales system (ticketless, mobile shift, etc.) Structural reform of Group companies (multi-tasking, insourcing, etc.) -20.0 Additional reduction of Operating Costs (+a) -50.0 1,324.6 1,358.8 Revenue-related and natural decrease Emergency reduction 100.0 reduction through structural reforms 1,244.9 FY2019 FY2020 FY2021 About 1,250.0 (billion) FY2028 target 15#16Structural Reform (Drastic Strengthening of Management Structure) (2) Peak shift Aims • Respond to such social needs as the avoidance of congestion • Respond to changes in customers' usage needs • Reduce costs with ensuring safety as a premise Started from March 2021 Streamline facilities Aims •Provide facilities that reflect the customer usage situation JR JR-EAST • Reduce costs with ensuring safety as a premise Transportation facilities • Replace trains with hybrid railcars, etc. and remove overhead contact lines, substation facilities, etc. . Streamline Remove tracks, signaling equipment, etc. by converting to Facilities single tracks, etc. Railway station facilities • Revise the specifications of and reduce ticket vending machines and automatic ticket gates in anticipation of ticketless operations • Revise the specifications of and reduce facilities on platforms Measures to Shift Peak Periods Set Timetables Corresponding to the Above Reduce Fixed Costs • Award points for off-peak use JRE POINT Aim for early realization . ⚫consider flexible fare and surcharges (Seasonal or hourly charge) Reduce the number of trains operating during peak periods Reduce capital expenditures (reduce railcars) • Reduce personnel expenses and, maintenance and power costs, etc. • Create space (railway stations, storage tracks, etc.) • Reduce running costs (cleaning, security, etc.) Reduce . Reduce replacement of old equipment Fixed Costs Reduce personnel expenses and maintenance costs • Create space Building a Sustainable Railway Business 16#17Structural Reform (Drastic Strengthening of Management Structure) (3) Construct flexible railway systems • Rigorously Analyze Railcar Replacement Cycles With ensuring safety through life-extension work, etc., as a premise, lengthen railcar replacement cycles and reduce the number of new railcars Utilize on the same line segments for long periods (reduce conversion and remodeling costs) New construction Until now Equipment • • Improve the Efficiency of Railcar Usage Plans Revise transportation capacity in line with usage situation Consider reducing railcars owned Undertake shared operation of railcars on multiple line segments Railcar Scale of capital expenditures replacement disposal Scale of capital expenditures • • JR JR-EAST Accelerate the Increase in Driver-Only Services Achieve driver-only services as soon as possible (including the Tokyo metropolitan area) Establish efficient operation systems Depreciation Personnel expenses Life-extension work, etc. Railcar disposal Utilize New Technologies and Digital Technologies, etc. From now Advance ESG-Related Investment Build flexible railway systems in anticipation of long-term changes in the business environment • Reduce CO2 emissions in the railway business Consider changing over to hybrid diesel railcars and electric railcars CO2 Reduce the CO2 emissions of the railway business by 50.0% by 2030 * Versus FY2014.3 • Reduce facilities along tracks by controlling level crossings and train speeds through GNSS* and wireless communications * A satellite positioning system Advance CBM GNSS (衛星測位システム) • Utilize BIM and point cloud data, etc. 列車制御情報 中央装置 踏切制御情報 携带無線通信網 (4G/LTE) 列車の速度制御 信号設備 Maintenance costs 踏切制御 踏切設備 17#18FY2021.3 initiatives Structural Reform (Drastic Strengthening of Management Structure) (4) Productivity Improvement (1) eki-net handling percentage FY2021.3: 28.2% JR JR-EAST Medium- and long- FY2022.3 initiatives term targets Improve the replacement functions of the eki-net system FY2026.3 60% Establish an efficient sales system Improve the in-house Shinkansen ticketless Significantly expand the area of percentage FY2021.3: 33.2% Shift to mobile Mobile Suica issuance FY2021.3: 14.1 million subscribers Touch de Go! Shinkansen Discontinue handling of certain special tickets (Shinkansen multiple-ride tickets, Shinkansen W tickets, etc.) FY2026.3 70% Mobile Suica app renewal FY2026.3 Increase issuance and promote use 25.0 million subscribers Streamline operation systems Smart maintena nce Advance driver-only services FY2021.3: 41 lines segments Autonomous driving Expand to Uchibo Line, Sotobo Line, Kashima Line, Oga Line, and Mito Line Introduce automatic train operation (ATO) devices to the Joban Line (local services) Development of railcars and aboveground equipment aimed at further advancement ■Conduct verification tests for the autonomous driving of not-in-service Series E7 Shinkansen Promote monitoring of track facilities (operating trains) Equipment Promote CBM Electricity Advance monitoring of overhead contact lines (inspection trains) Railcars Improve efficiency of construction through mechanization, etc. Smart project management Digital technologies Introduce to approx. 5,800 km in regional areas Use Yamanote and Yokosuka line railcars for monitoring Improve work efficiency by using the Shinkansen Rail Exchange System (REXS) Advance construction by using JRE-BIM (BIM and point cloud data, etc.) Extend to more line segments in stages Introduce ATO to more FY2023.3 line segments Introduce to 6,540 km, mainly the Tokyo metropolitan area and regional trunk lines From FY2022.3 onward Improve inspection accuracy FY2025.3 Yamanote and Yokosuka lines 1,295 railcars (approx. 13.0% of the Tokyo metropolitan area) FY2027.3 Introduce to approx. 360 km of the Tohoku Shinkansen Introduce to all construction projects 18#19Structural Reform (Drastic Strengthening of Management Structure) (5) Productivity Improvement (2) FY2022.3 initiatives FY2021.3 initiatives System changes Increase maintenance efficiency through structural reinforcement Advance renewal of facilities aimed at reducing maintenance costs and work (Installation of labor-saving track, integrated overhead contact lines, etc.) Increase maintenance efficiency through new technologies Introduce ATACS to the Tokyo metropolitan area Introduce train control system that uses GNSS and mobile wireless communication network Provide services based on changes in customer usage Reform basic Transportation timetables and transportation modes business items Flexible fares and surcharges, etc. Investment in and management of railcars Replacement cycles, etc. Streamline facilities Transportation facilities Railway station facilities Optimize Group management post-COVID-19 era Revise timetables for Consider transportation timetables with a view to the last-train and first- train services Begin awarding points for off-peak use Consider appropriate transportation modes for regional areas Consider systems for fares and surcharges Lengthen railcar replacement cycles through life-extension work, etc. Reduce railcars owned Reduce facilities along tracks and consider de-electrification and introduction of single tracks Revise the specifications of and reduce facilities on platforms and reduce the number of tracks Revise the specifications of and reduce ticket vending machines and automatic ticket gates JR JR-EAST Medium- and long- term targets FY2025.3 Labor-saving track Tokyo metropolitan area Install approx. 400 km FY2026.3 Integrated overhead contact lines Tokyo metropolitan area Install approx. 970 km FY2025.3 Introduce GNSS to the Hachiko Line (level crossing control) Provide train timetables that reflect customer usage Realize a new commuter pass service as soon as possible FY2022.3-FY2026.3 Railcar investment Reduce investment by ¥30.0 billion (versus the FY2020.3 plan) FY2028.3 Cost reduction ¥3.0 billion (versus FY2020.3) Structural JR East Foods Co., Ltd. Reorganize companies JR East Cross Station Co., Ltd JR Chuo Line Community Design Co., Ltd. Increase efficiency by revising work content and personnel allocation and introducing multitasking reform of Group companies Cost reduction Reduce the Group's external consignment expenses by revising contracts and bringing work in-house Consolidate and relocate operating bases and streamline the organization Reorganize companies for optimization Create Group value by improving productivity 19#20Implement ESG Management (1) Zero Carbon Challenge 2050 -50.0% Roadmap for achieving net zero CO2 emissions in the railway business Energy type (Breakdown of CO2 FY2021.3 ~FY2031.3 Tohoku area CO2 free by FY2031.3 JR JR-EAST ~FY2041.3 ~FY2051.3 Purchase area CO2 free by FY2051.3 Advance the introduction of (Deploy new-type railcars, increase introduction of renewable energy-saving facilities energy facilities at railway stations, etc.) JR East's CO2 emissions emissions) 2.15 million tons Net zero 1.08 million tons Electricity (92.0%) FY2014 FY2031 FY2051 Own power plants (40.0%) The Group's 2.45 million overall CO2 tons emissions Fuel Consider line segments for (8.0%) Develop fuel cell railcars and conduct verification tests, etc. Net zero deployment Implement electrification, etc. in step with renewal of facilities Reduce carbon in step with renewal of power plants and other facilities (reduce CO2 emission factors) Promote introduction of energy-saving facilities (deploy catenary and battery-powered hybrid railcars) Own power plants CO2 free by FY2051.3 (Introduce CO2-free hydrogen power generation) FY2014 Introduce environmental and FY2051 ゼロカーボン・ チャレンジ 2050 水力 AR energy technologies to the ZERO CARRON CHAL FKSE 2135 庫霄 Shinagawa Development Project Realize integrated supply and demand energy management Photovoltaic, wind power generation, solar thermal, earth thermal, sewage heat biogas systems, cogeneration systems, district heating and cooling, fuel cells 省工 FCバス FCV 415 Fuel battery cars Around March 2022 (planned) Fuel cell railcars HYBARI verification test Ha ** EV CD&フリー 水氣 水氣 カーボンニュー LNG火力発電 太陽光 BJJ 927 5841 Advance carbon-free measures at the Kawasaki Thermal Power Station Introduce CO2-free hydrogen power generation Renew the part of facilities at FY2022 Advance the development of renewable energy power sources 陸上力 洋上力 * Develop with the aim of achieving total power output of at least 1 million kW Fuel battery bus Started service: Tokyo Around Takeshiba From Oct 2020 20 20#21Implement ESG Management (2) Regional Revitalization Earthquake Recovery ■Brand TOHOKU MONO] 東北福 東北 MONO nir Advance development projects Development in front of Aomori Station Tourism farm aimed at recovery from the Great East Japan Earthquake and regional cooperation JR Fruit Park Sendai ARAHAMA Branding business stem form Tohoku DC. JR-Group find charms of Tohoku area with locals. Arranging the marche or fair of local foods. Development South gate of Iwaki Station I JRE Agricultural Stations, activate the agriculture Collecting agricultural produce at regional railway stations JRE Agricultural Stations STATION 列車を活用した 輸送 To consumers Homes Eki-naka 出入力 п Register the items and 1 O D O number online JRE POINTが「貯まる」「使える」 JRE MALL 農業総合研究所の sell fresh vegetables by using e-commercel and it shorten the distribution term. 105 WW ④ 農味道売所 物流ネットワーク Super market At Kanto Area JR JR-EAST My Number Card linkage that utilizes the Suica authentication function 交通系ICカード 登錄 BAB 720 Sulca 連 TONG マイナンバー カード認証 ※交通系ICカードとマイナンバー カードを紐づけて登録 For the MaaS in Maebashi, provide a service enabling My Number Card holders to receive benefits with a single Suica card. Promote local DX We improve the agricultural products pickup point, JRE Agricultural Station, and revitalize agricultural logistics through utilizing IT. We contribute regional revitalization through offer the fresh farm products and progress the profits of the producer. 21#22Numerical targets for specific actions (FY2026) and FY2021 results JR JR-EAST Values to create Focus points Numerical targets for specific actions Affluence Ticketless service usage rate for JR East Shinkansen Handling percentage of eki-net Mobile Suica cards issued Number of transactions for usage of the services of the MaaS platform, Mobility Linkage Platform, provided by JR East People's daily E-money usage such as Suica lives Trust Safety Number of transaction amount of JRE MALL Number of JRE POINT members Number of shared offices Number of childcare support facilities Number of homes Installation area of 5G Accidents due to internal causes Serious incidents Railway accidents Of which accidents on platforms involving personal injuries Transportation disruptions due to internal causes Conventional lines within 100km range of Tokyo JR East Shinkansen Total delay time for conventional lines within 100-km range of Tokyo FY2021 results 33.2% The highest number (Oct. 2020) 28.2% The highest number (Oct. 2020) 14.1 mil 0.21mil. transactions/month The highest number (Mar. 2021) 250 mil. transactions/month The highest number (Dec. 2019) 1.2 bil. Yen 12 mil. persons 134 locations in total 145 locations in total about1,600 homes in total 3 Places in total 0 0 24% reduction *3 (21 reduction from FY2020) 43% reduction *3 (33reduction from FY2020) New targets for the fiscal year ending March 31, 2026 (announced in January 2021) 70% 60% 25 mil. 75 mil. transactions/month 500 mil. transactions/month 130 bil. Yen 25 mil. persons 1,200 locations in total 170 locations in total 3,800 homes in total 100 Places in total 0 0 20% reduction (from FY2019 level)*1 30% reduction (from FY2019 level)*1 35% reduction *3 8% increase *3 2% reduction *3 70% reduction (from FY2019 level) 75% reduction (from FY2019 level) 70% reduction (from FY2019 level) CO2 emissions of the railway business 7.5% reduction *4 50% reduction (from FY2014 level)*2 Development of renewable energy power sources 82,000kW 700,000 kW*2 *1 Targets for the FY2024.3 *2 Targets for the FY2031.3 *3 preliminary figures *4 Results for the FY2020.3 22 22#23FY2022.3 Plan (non-consolidated / consolidated) non-consolidated (\ billion) consolidated 2022.3/2021.3 (\billion) 2022.3Plan Increase / (%) Decrease JR JR-EAST 2022.3/2021.3 2022.3Plan Increase / Decrease (%) Operating revenues 1,677.0 +492.8 141.6 Operating Passenger 1,424.0 +469.6 149.2 2,326.0 +561.4 131.8 revenues revenues Others 253.0 +23.1 110.1 Operating income 37.0 +515.5 Operating income 74.0 +594.3 Ordinary income 0.0 +517.7 Ordinary income 25.0 +604.7 Profit Profit attributable 25.0 +531.6 to owners of parent 36.0 +613.9 23#24Plan for the use of cash in FY2022.3 JR JR-EAST Capital expenditures Growth investment Investment needed for the continuous operation of business (Safety practice and transportation stability) Priority budget allocation (Investment in innovation, etc.) Shareholder returns Approach to Shareholder Returns ¥674.0 billion ¥270.0 billion ¥348.0 billion ¥56.0 billion ¥100/ share dividend In the medium-to-long term, we are setting our sights on realizing a total return ratio target of 40% and a dividend payout ratio of 30%. ■We will continue increasing dividends stably while proceeding with share buybacks in light of performance trends. 24#25II FY2021.3 Financial Results and FY2022.3 Plan JR JR-EAST [Notes] Numbers in ( ) for consolidated operating revenues and by segment are reference values excluding an effect of application of "Accounting Standards for Revenue Recognition" and other standards. [Notes] Operating revenues: operating revenues from outside customers Operating income: operating revenues from outside customers + operating revenues inside group - purchases from outside suppliers - purchases inside group#26FY2021.3 Financial Results and FY2022.3 Plan (non-consolidated / consolidated) JR JR-EAST non-consolidated 2021.3/2020.3 2022.3/2021.3 2020.3 2021.3 2022.3Plan Results Results Increase/ (%) (\ billion) Decrease Increase/ Decrease (%) Operating revenues 2,061.0 1,184.1 -876.9 57.5 1,677.0 +492.8 141.6 Passenger 1,792.8 954.3 -838.5 53.2 1,424.0 +469.6 149.2 revenues Others 268.2 229.8 -38.4 85.7 253.0 +23.1 110.1 Operating income 294.0 -478.5 -772.6 37.0 +515.5 Ordinary income 260.1 -517.7 -777.8 0.0 +517.7 Profit 159.0 -506.6 -665.6 25.0 +531.6 *Effect of COVID-19 885.9 billion yen consolidated 2021.3/2020.3 2022.3/2021.3 2020.3 Results 2021.3 Results 2022.3Plan (\ billion) Increase/ Decrease (%) Increase/ Decrease (%) 2,326.0 Operating revenues 2,946.6 1,764.5 -1,182.0 59.9 +561.4 131.8 [2,475.0] Operating income 380.8 -520.3 -901.1 74.0 +594.3 I Ordinary income 339.5 -579.7 -919.3 25.0 +604.7 I Profit attributable to owners 198.4 -577.9 -776.3 36.0 +613.9 of parent *Effect of COVID-19 1171.0 billion yen 46 26#27Passenger Revenues - FY2021.3 Results (YoY, billion, %) Increase / Decrease (%) Passenger revenues -838.4 53.2 Commuter passes -130.1 74.4 (Seasonal tickets) Non-commuter passes -708.3 44.8 (Ordinary tickets) Factors JR JR-EAST Increase / Decrease Effect of COVID-19 -130.0 Effect of COVID-19 -373.0 Shinkansen 10-day Golden Week, year-end and new year Travel, Leap-year (decrease of the number of long holidays to previous year) -4.0 Network -371.0 31.3 Earthquake in 2021.Feb -1.5 Natural disasters (Typhoon) (decreased occurrence compared to previous year) +6.5 Basic Trend Effect of COVID-19 -316.0 Kanto Area Network 10-day Golden Week, year-end and new year Travel, Leap-year (decrease of the number of long holidays to previous year) -3.0 of Conventional Lines -311.1 55.2 Rugby World Cup (held in last year) Natural disasters (Typhoon) -0.5 (decreased occurrence compared to previous year) +9.5 Basic Trend Other Network of Conventional Effect of COVID-19 -26.0 -26.1 46.4 Lines Basic Trend - 27#28Passenger Revenues - FY2021.3 Results and FY2022.3 Outlook JR JR-EAST ■Non-commuter passes: Compared with pre-covid-19 (excludes special factors) 100% (Reference) FY2021.3 FY2022.3 Conventional lines (Kanto Area Network) 80% 60% 40% 20% 0% 1 Q 2Q 3Q 4Q Conventional lines (Kanto Area Network) : Approx. 85% Shinkansen Approx. 80% Shinkansen 1 Q 2Q 3Q 4Q Commuter passes revenues (Seasonal tickets) :Compared with pre-covid-19, reach approximately 80% at 3rd quarter of fiscal 2022 and trend at the same level thereafter. (Reference) Approximately 75% at the end of fiscal 2021. 28#29Passenger Revenues - FY2022.3 Plan JR JR-EAST (\billion,%) Total (compared to two years ago) Full-term Plan (YoY basis) Main factors behind change 1st half 2nd half +469.6 149.2% (79.4%) Passenger revenues 151.9% 147.0% T +10.7 102.8% (76.6%) Commuter passes • Recovery from the effect of COVID-19: +14.0 (Seasonal tickets) 97.8% I 108.0% +458.9 Non-commuter passes (Ordinary tickets) 195.3% +238.7 241.5% (75.5%) Shinkansen I 262.8% I 227.5% Network I +203.7 153.1% (84.5%) 179.8% (80.6%) 168.7% • Tokyo Olympics / Paralympics: +1.5 ⚫ Earthquake (decrease occurrence compared to previous year): +1.5 • Recovery from the effect of COVID-19 • Tokyo Olympics / Paralympics: +2.5 +237.0 Kanto Area Network • Recovery from the effect of COVID-19: +204.0 of Conventional Lines 169.1% 141.2% | +16.4 172.8% (80.1%) Other Network of Conventional Lines 172.0% • Recovery from the effect of COVID-19: +16.5 Including effects of COVID-19 as special factors until FY2021.3 and not including FY2022.3 173.4% * 29 29#30Operating Expenses (non-consolidated) – FY2021.3 Results - JR JR-EAST (\ billion) 2020.3 2021.3 2021.3/2020.3 Increase / Results Results (%) Main factors behind change Decrease Operating 1,767.0 1,662.6 -104.3 94.1 expenses Personnel • Bonus related: -42.8 444.4 388.8 -55.5 87.5 expenses ⚫Decrease in number of employees: -6.5 Non-personnel 831.1 773.0 -58.0 93.0 expenses Energy 64.5 56.4 -8.1 87.5 ⚫ Decrease in fuel costs of thermal power plants: -6.8 Maintenance 302.1 292.7 -9.4 96.9 • Railcar maintenance expenses: -5.5 • General maintenance expenses: -3.8 Other 464.4 423.8 -40.5 91.3 ⚫Revenue-related expenses: -15.9 ⚫Shinkansen test railcar ALFA-X -10.4 Usage fees to 83.3 82.9 -0.3 99.6 JRTT, etc. Taxes 100.6 96.4 -4.1 95.9 Depreciation 307.4 321.2 +13.8 104.5 Increase due to capital expenditures 30#31Cost Reduction Plan (non-consolidated) 1,767.0 1,662.6 JR JR-EAST Natural increase, increase due to occurrence Increase due to measures +23.7 +16.1 Natural decrease, decrease due to absence -19.4 Cost Reduction (\ billion) Reduction of operating expenses -22.6 -58.7 Depreciation, Property tax, etc. +15.8 1,640.0 2020.3 Results 2021.3 Results Increase due to Natural increase, measures Expenses for Tokyo Olympics / Paralympics Expenses for Information processing etc. Natural decrease, increase due to occurrence decrease due to absence Cost Reduction Revenue-related expenses Increase in fuel costs of thermal power plants Compensation for Works JRE POINT Revenue-related expenses Decrease due to the application of new accounting standards Decrease in number of employees Takanawa Gateway Fest New uniforms etc. etc. 2022.3 Plan Maintenance cost -30.8 Publicity and -5.3 advertising expenses Decrease in number of goods -2.4 Salary increase restraint -2.3 Security cost -1.8 31#32- Operating Expenses (non-consolidated) – FY2022.3 Plan JR JR-EAST (\ billion) 2021.3 2022.3 2022.3/2021.3 Main factors behind change Increase / Results Plan Decrease (%) Operating 1,662.6 1,640.0 -22.6 98.6 expenses Personnel 388.8 383.0 -5.8 98.5 (-) Decrease in number of employees [-] Salary increase restraint expenses Non-personnel 773.0 741.0 -32.0 95.8 Expenses Energy 56.4 62.0 +5.5 109.8 [+] Increase in fuel costs of thermal power plants Maintenance 292.7 265.0 -27.7 90.5 [-] General maintenance expenses (-) Railcar maintenance expenses [-] Publicity and advertising expenses Other 423.8 414.0 -9.8 97.7 -Application of new accounting standards [+] Revenue-related expenses Usage fees to 82.9 85.0 +2.0 102.5 JRTT, etc. Taxes 96.4 104.0 +7.5 107.8 Depreciation 321.2 327.0 +5.7 101.8 [+] Increase due to capital expenditures 32 32#33Cost Reduction Results and Plan FY2022.3Plan JR JR-EAST ■Planning cost reductions of approximately ¥59.0 billion at JR East (non-consolidated) ■Planning total cost reductions of approximately ¥11.0 billion at Group companies ■Investment needed for the continuous operation of business will be the same level of FY2021.3 (¥\billion) FY2021.3 Plan FY2022.3 FY2021.3 Results (Released at Jan.2021) Plan Operating Expenses Capital Expenditures Operating Expenses Capital Expenditures Operating Expenses JR East 96.5 54.0 103.0 70.0 59.0 Group companies* 35.0 10.0 42.0 10.0 11.0 Total 131.5 64.0 145.0 80.0 70.0 *Simple total for respective companies 33 33#34Transportation - Results and Plan JR JR-EAST (\ billion) 2021.3/ 2020.3 2021.3 2020.3 2022.3 Plan 2022.3/ Outlook of operating revenues 2021.3 Operating 1,994.5 1,095.7 revenues -898.7 54.9% 1,604.0 +508.2 [1,599.0] 146.4% Shinkansen: approx. 80% Operating income -782.9 +492.3 250.5 -532.3 -40.0 JR East -858.1 (54.5%) Operating revenues (\ billion) Main positive and negative factors in FY2021.3 Decrease in passenger revenues due to the effect of COVID-19 Effect of COVID-19 ¥-886.0 bn <Passenger Revenues of JR East> Conventional lines (Kanto Area Network): approx. 85% Commuter passes: approx. 80% *As of the 3rd quarter of this fiscal year *Compared with the revenue of pre-covid-19 * Advertisement revenues and incomes of JR-East changed from Transportation segment to Retail & Services segment in FY2022.3 (Reference) Shinkansen traffic volume by line (% compared with same month of previous year) Full Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. year Tohoku Shinkansen* 13 11 27 33 25 39 51 49 40 27 25 82 33 (Total of Furukawa-Kitakami and Omiya-Utsunomiya) Joetsu Shinkansen (Omiya-Takasaki) Hokuriku Shinkansen 16 13 31 34 26 39 44 44 41 28 37 87 35 12 10 28 34 28 41 69 63 48 27 35 91 37 888 (Omiya-Takasaki) * Tohoku Shinkansen includes Tsubasa and Komachi. 34#35Retail & Services - Results and Plan JR JR-EAST (\billion) 2020.3 2021.3 2021.3/ 2020.3 2022.3 2022.3/ Plan 2021.3 Operating -183.9 502.0 318.0 revenues 63.4% 337.0 [448.0] +18.9 105.9% Operating income -47.9 +55.5 34.3 -13.5 42.0 Operating revenues (\ billion) Outlook of operating revenues <EKINAKA Stores > Approximately 90% of pre-COVID-19 level at the end of fiscal year <Advertisement business> Approximately 90% of pre-COVID-19 level at the end of fiscal year Main positive and negative factors (FY2021.3) *Advertisement revenues and incomes of JR-East changed from Transportation segment to Retail & Services segment in FY2022.3 Full year J-Retail -83.1 (61.8%) Tetsudo Kaikan -27.6 (41.4%) JR East Marketing & Communications Effect of COVID-19 ¥-177.0 bn -23.0 (71.5%) Decrease due to the effect of COVID-19 Decrease due to the effect of COVID-19 Decrease due to the effect of COVID-19 Retails & Restaurant Total J-Retail(existing stores) 60.5 62.2 JR East foods(existing stores) 45.3 100.0 99.2 [Reference] Monthly trends (comparison with same month of previous year, %) 98.8 77.5 80.0 69.5 70.0 67.4 63.8 87.7 62.4 77.4 58.5 57.3 58.5 69.1 60.0 65.5 67.1 62.0 57.8 35.4 54.4 54.6 60.8 54.8 34.5 50.5 56.6 40.0 52.6 47.0 42.9 45.1 40.5 29.9 40.4 28.9 20.0 16.2 21.7 0.0 Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. 35#36Real Estate & Hotels - Results and Plan JR JR-EAST (\ billion) 2020.3 2021.3 2021.3/ 2020.3 2022.3 2022.3/ Plan 2021.3 Outlook of operating revenues Operating 348.5 271.2 revenues -77.2 77.8% 313.0 +41.7 [343.0] 115.4% Operating income -59.4 74.6 15.1 58.0 20.3 +42.8 382.7% <Shopping center business> Approximately 90% of pre-COVID-19 level at the end of fiscal year <Office buildings business> Approximately the same level of pre-COVID-19 level through the year <Hotel Business> Approximately 80% of pre-COVID-19 level at the end of fiscal year Operating revenues (\ billion) Nippon Hotel -22.4 (40.8%) LUMINE -21.9 (70.8%) atré JR East Building -9.4 (79.2%) +2.2 (104.8%) Main positive and negative factors (FY2021.3) Decrease due to the effect of COVID-19 Decrease due to the effect of COVID-19 Decrease due to the effect of COVID-19 Increase in opening of JR Yokohama Tower, etc. 140.0 [Reference] Monthly trends (comparison with same month of previous year, %) 120.0 Full year I Shopping Centers Total LUMINE(existing stores) 74.2 68.0 atré (existing stores) Hotel 76.0 41.9 142.7 124.3 83.1 111.4 84.4 94.0 83.8 100.0 82.7 80.7 92.8 - 86.6 81.3 85.3 81.7 78.9 - 84.2 104.9 76.7 80.0 88.8 7.7.7. -76.5 83.0 - 80.2 78.0 70.0 79.0 60.0 70.5 30.2 60.7 79.9 68.3 73.7 61.0 64.0 40.0 29.9 48.7 54.3 39.1 39.3 28.0 20.0 32.3 28.8 28.3 24.4 14.5 13.1 13.9 5.4 0.0 Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. 36#37Hotel Operations - Overview JR JR-EAST Operating revenues *1 23.5 billion (2021.3) Operating income * 1 -20.4 billion (2021.3) *1 Simple total of the revenues and expenses of the hotel businesses of Group companies and the revenues and expenses of the hotel businesses of non-consolidated JR East [Reference] JR East hotels at a glance Metropolitan Hotels (14 hotels, 4,021 guest rooms) Operating revenues *2 ¥ 11.9 billion (2021.3) Menus to boost the operating revenues 1 Micro tourism ②Take in demand of teleworks through STATION WORK, etc. ③Strengthen CRM* ④Make use of local governments policies *Customer Relationship Management Occupancy rate:28.5 % JR-EAST HOTEL METS chain (29 hotels, 4,009 guest rooms) Operating revenues *2 ¥7.2 billion (2021.3) The Tokyo Station Hotel (150 guest rooms) Occupancy rate:56.4 % *2 Simple sum of operating revenues from each hotel. mesm Tokyo, AUTOGRAPH COLLECTION (265 guest rooms) Familio, Folkloro (8 hotels, 344 guest rooms) wanoi Kakunodate (3 guest rooms) Hotel Dream Gate Maihama, Hotel Dream Gate Maihama Annex (160 guest rooms) Hotel New Grand (238 guest rooms) (As of Mar. 31,2021) 37#38Main Projects and policies (Reference) FY2021 Transpo rtation Real estate Hotels Retail & Services From 2020.3 新幹線 E チケット Limited express Saphir ODORIKO From 2020.3 New commuting seated service (Tokaido Line limited Express) JR Yokohama tower HIBIYA OKUROJI WATERS takeshiba (Plan) FY2022 JR JR-EAST るたび、 出会う旅。 東北 えきねっと 20214.1.20 Tohoku destination campaign Renewal the Eki-net 列車书宿书,自由転通求 ☑ JR東日本 ダイナミック レールパック Production of New Dynamic Rail Shinkansen Pack service (Series E7) KAWASAKI DELTA mesm Tokyo, AUTOGRAPH Hotel Metropolitan Hotel Metropolitan Hotel Metropolitan KAMAKURA COLLECTION YAMAGATA South Tower AKITA North wing Hotel Metropolitan PREMIER TAIPEI GRANSTA TOKYO tekute SENDAI 38 88#39Others- Results and Plan (\ billion) 2021.3/ 2022.3 2022.3/ 2020.3 2021.3 2020.3 Plan 2021.3 Operating -21.9 72.0 -7.5 101.5 79.5 revenues 78.3% [85.0] 90.5% Operating income -9.1 23.8 14.7 16.0 61.8% +1.2 108.4% Outlook of operating revenues JR JR-EAST <Credit card business> Approximately the same level of pre-COVID-19 level through the year Operating revenues (¥ billion) main positive and negative factors (FY2021.3) Decrease in systems contract revenues JR East Information Systems -7.5 (50.5%) Decrease in sales of IC-related equipment JR East Mechatronics -6.8 (72.7%) Japan International Consultants -2.9 (67.8%) for Transportation Viewcard -2.9 (90.2%) Decrease in consultation services for the Detailed Design Study on the High Speed Railway Construction Project in India Decrease in franchise fees due to the effect of COVID-19 Effect of COVID-19 ¥-9.0 bn IT & Suica operating results (FY2021.3) Operating revenues: ¥52.9 billion (84.0%) *Operating revenues: ¥125.7 billion (88.4%) (including revenues inside group) (operating revenues from outside customers)* Operating income: ¥8.7 billion (52.5%) Including mutual-usage affiliated stores (Top row: Millions of transactions, (Reference) Number of e-money transactions per month Bottom row: % compared with same month of previous year) Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Full year 130 (63.8) 127 187 202 212 209 220 211 210 177 174 (59.1) (87.5) (87.6) (90.9) (92.2) (90.1) (85.0) (83.4) (73.9) (77.0) 208 (99.2) 2,269 (82.6) 39#40Summary of Non-operating Income / Expenses and Extraordinary Gains / Losses (consolidated) JR JR-EAST (\ billion) 2020.3 2021.3 Increase/ Results Results Decrease 2022.3 Increase/ Plan Decrease Operating income 380.8 -520.3 -901.1 74.0 + 594.3 Non-operating income or expenses -41.3 -59.4 -18.1 -49.0 +10.4 Non-operating income 23.9 22.4 -1.4 Equity in net income of affiliated companies 5.6 -5.6 Dividend income 6.1 4.9 -1.1 Subsidies for employment adjustment 5.0 +5.0 Other 12.1 12.4 +0.2 Non-operating expenses 65.2 81.9 +16.6 Equity in net losses of affiliated companies 13.4 +13.4 Interest expense 60.7 60.6 Other 4.4 7.8 -0.1 +3.3 Interest expense: 33.6 (+0.5) Bond interest: 27.0 (-0.6) Ordinary income 339.5 -579.7 -919.3 25.0 +604.7 Extraordinary gains or losses -55.3 -123.7 -68.4 38.0 +161.7 Extraordinary gains 64.2 43.4 -20.8 Construction grants received 45.6 28.9 -16.7 Insurance proceeds related to disaster 5.5 -5.5 Gains on sales of fixed assets 7.2 11.6 +4.3 Other 5.7 2.8 -2.8 Extraordinary losses 119.6 167.2 +47.6 Impairment losses on fixed assets 7.5 80.0 +72.4 Environmental conservation costs 11.1 36.9 +25.7 Provision for allowance for disaster-damage losses 12.4 6.9 -5.4 Disaster-damage losses 19.3 0.5 -18.7 Losses on reduction entry for construction grants 39.7 16.8 -22.9 Other 29.3 25.8 -3.4 Income before income taxes 284.1 -703.5 -987.7 40#41Summary of Cash Flows (consolidated) (\ billion) 2020.3 2021.3 JR JR-EAST Increase/ Decrease Decrease in income before income taxes: -987.7 Cash Flows from Operating Activities (I) Cash Flows from Investing Activities (II) Free Cash Flows (I) + (II) 548.6 -189.9 -738.6 Increase in payments for purchases of fixed assets: -61.5 -701.6 -749.3 -47.7 -152.9 -939.3 -786.4 Increase in proceeds from procurements with interest-bearing debt: +892.6 Cash Flows from Financing Activities (III) 43.4 983.3 +939.9 Effect of Exchange Rate Changes on Cash and Cash Equivalents (IV) -0.0 -0.0 +0.0 Net Change in Cash and Cash Equivalents (I) + (II) + (III) + (TV) -109.5 44.0 +153.5 Cash and Cash Equivalents at Beginning of the Year 263.7 153.7 -109.9 Increase in Cash and Cash Equivalents due to Merger 0.1 +0.1 Decrease in Cash and Cash Equivalents due to Corporate Division -0.3 - Cash and Cash Equivalents at End of the Year 153.7 197.9 +0.3 +44.1 41#42Change in Capital Expenditures (consolidated) JR JR-EAST (\ billion) 2017.3 2018.3 (\ billion) 2019.3 2020.3 2021.3 2022.3 (Results) (Results) (Results) (Results) (Results) Plan Transportation * Growth investment 54.8 97.4 Investment needed for the continuous operation of business 328.3 326.9 Non-Transportation Growth investment Total 383.1 424.4 115.1 120.8 Transportation Services Growth investment 93.5 110.7 79.0 65.0 Investment needed for the continuous operation of business 307.2 313.3 309.9 305.0 Priority budget allocation (Investment in innovation, etc.) 31.4 46.7 62.6 54.0 Total 432.3 470.7 451.6 424.0 Growth investment 160.5 234.5 212.4 205.0 Investment needed for the continuous 8.4 5.1 operation of business Lifestyle services, IT&Suica services Investment needed for the continuous operation of business 32.5 32.2 26.3 43.0 Priority budget allocation 4.4 3.0 1.8 2.0 (Investment in innovation, etc.) Total 123.5 126.0 Total 197.6 269.8 240.6 250.0 Growth investment 169.9 218.3 Growth investment 254.1 345.2 291.4 270.0 Investment needed for the Investment needed for the continuous 336.7 332.0 continuous operation of 339.8 345.5 336.3 348.0 business operation of business * (Priority budget allocation) (23.5) (25.3) (Depreciation) 368.7 374.7 388.8 393.0 Priority budget allocation (Depreciation) 364.1 367.9 35.9 49.7 64.4 56.0 (Investment in innovation, etc.) Total 506.7 550.4 Total 629.9 740.6 692.2 674.0 * The results show investment amounts for transportation and non-transportation based on the previous segment in FY2017.3. 42#43Change in Interest-bearing Debt Balance (consolidated) JR JR-EAST (\ billion) 2017.3 2018.3 2019.3 2020.3 2021.3 (Results) (Results) (Results) (Results) (Results) 1,839.9 1,770.1 1,730.1 1,710.2 2,020.3 Bonds (1.73%) (1.68%) (1.61%) (1.56%) (1.32%) 1,030.1 1,072.9 1,101.4 Long-term loans 1,124.3 1,291.8 (1.14%) (1.10%) (1.06%) (0.99%) (0.89%) Long-term liabilities incurred 340.9 336.5 332.1 327.7 323.0 for purchase of railway facilities (6.45%) (6.47%) (6.49%) (6.51%) (6.53%) 150.0 715.0 Other interest-bearing debt (-) (0.11%) 3,211.0 3,179.6 3,163.7 3,312.3 4,350.2 Total (2.04%) (1.99%) (1.93%) (1.79%) (1.38%) Net interest-bearing debt 2,923.9 2,864.7 2,899.9 3,158.5 4,152.2 [Notes] Net interest-bearing debt = Balance of consolidated interest-bearing debt - Balance of consolidated cash and cash equivalents Top : Balance Bottom: Average interest rate 43#44• • Fund-Raising Policy Secure adequate liquidity through "early, abundant, long-term❞ funding JR JR-EAST Take flexible measures (funding, repayment) while carefully analyzing revenue trends going forward • Ensure the financial stability, extending the terms of existing debt. • Fund-Raising Situation (Apr. 2020 - Mar. 2021) Long-term fund-raising (bonds, borrowing): Totaled 607.5 billion yen. Short-term fund-raising (CP, special bank overdraft facilities): Balance at the end of March was 715.0 billion yen. Issuance facility and contract value (1,580.0 billion yen) * CP 700 billion yen, Special bank overdraft facilities 520 billion yen, Commitment lines 300 billion yen, General bank overdraft facilities 60 billion yen. *Increased amount of CP issuance facility from 500 billion yen in Apr. 2021 and at the same time updated credit rating. ■Credit ratings • Long-term credit ratings Short-term credit ratings Rating agency Moody's Standard & Poor's (S&P) Rating and Investment Information (R&I) Rating agency Rating and Investment Information (R&I) Japan Credit Rating Agency (JCR) Rating A1 (Stable) A+ (Stable) AA+ (Stable) Rating a-1+ J-1+ 44#45Ⅲ II Reference Materials JR JR-EAST#46Numerical Targets of "Move Up" 2027 (FY2026) Transportation Consolidated operating revenues *1 1,970.0 billion yen [1,980.0 billion yen] 550.0 billion yen [709.0 billion yen] Consolidated operating income 252.0 billion yen 57.0 billion yen JR JR-EAST Retail & Services 480.0 billion yen 113.0 billion yen Real Estate & Hotels [535.0 billion yen] 90.0 billion yen 30.0 billion yen [101.0 billion yen] 3,090.0 billion yen 450.0 billion yen [3,325.0 billion yen] Others Total Consolidated operating cash flow Consolidated ROA Net interest-bearing debt/EBITDA *3 3,693.0 billion yen *2 Around 4.5% 5 times or less *1 Numbers in brackets for consolidated operating revenues and by segment are reference values excluding an effect of application of "Accounting Standards for Revenue Recognition" and other standards. *2 Total amount covering five years from the fiscal year ending March 31, 2022 to the fiscal year ending March 31, 2026 *3 Net interest-bearing debt means Balance of consolidated interest-bearing debt minus Balance of consolidated cash and cash equivalents. EBITDA means Consolidated operating income plus Consolidated depreciation expense. 46#47JR JR-EAST Financing and Money usage Financing Corporate bonds, loans, asset liquidation, etc. | Money usage Priority budget allocation 275.0 bil. yen Growth investment 1.828 tril. yen Advance investment that will contribute to technology innovation Rapidly advance investment that will contribute to future growth Consolidated accumulated Operating cash flow 3.693 tril. yen Deposit balance, etc. FY2022 FY2026 Total capital expenditures 3.888 tril. yen Investment needed for the continuous operation of business 1.785 tril. yen Shareholder returns FY2022 FY2026 ■ Expecting to achieve positive free cash flows in FY2024.3 Premised on ensuring safety, revise investment scale Increasing dividends stably while proceeding with share buybacks in light of performance trends 47#48Capital Expenditures Plan (consolidated) Total capital expenditures 3.750 tril. yen +138.0 Total capital expenditures 3.888 tril. yen (billion yen) Priority budget allocation 400.0 bil. yen -125.0 JR JR-EAST Priority budget allocation 275.0 bil. yen Advance investment that will contribute to technology innovation • Installation of facilities for driver- only operation • Smart maintenance (CBM) •MaaS Growth investment +388.0 Growth investment 1.828 tril. yen 1.440 tril. yen Investment needed for the continuous operation of business 1.910 tril. yen FY2019 FY2023 -125.0 Rapidly advance investment that will contribute to future growth ⚫Green Cars on the Chuo Rapid Line •Shinagawa development project Investment needed for the continuous operation of business 1.785 tril. yen FY2022 FY2026 Premised on ensuring safety, revise investment scale • Manufacturing and upgrading railcars ⚫Countermeasures for major earthquakes • Installation of automatic platform gates •Replacement of old facilities of station buildings 48#49Debt Management Policy ■ Maintain the approach to interest-bearing debt set out in "Move Up" 2027 JR JR-EAST "Seek net interest-bearing debt / EBITDA of about 3.5 times over the medium to long term❞ ■ Abovementioned ratio is going to rise to the FY 2022.3 temporarily. However, improve to 5 times or less by FY2026.3 and continue to endeavor to ensure financial soundness thereafter The images of improvement of (times) Net interest-bearing debt / EBITDA Peaking out 9.0 8.0 in FY2022.3 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 5 times or less by FY2026.3 Continuing to ensure financial soundness 2019.3 2020.3 2021.3 2022.3 2023.3 2024.3 2025.3 2026.3 2027.3 2028.3 Net interest-bearing debt / EBITDA *Net interest-bearing debt means Balance of consolidated interest-bearing debt minus Balance of consolidated cash and cash equivalents. *EBITDA means Consolidated operating income plus Consolidated depreciation expense. 49#50FY2022.3 Traffic Volume and Passenger Revenues - Plan Traffic Volume (million passenger kilometers) Passenger Revenues (\billion) JR JR-EAST Commuter Passes: Seasonal Tickets Non-commuter Passes: Ordinary Tickets 2021.3 2022.3 Increase / 2021.3 2022.3 Increase / (%) (%) Results Plan Decrease Results Plan Decrease Shinkansen Commuter Passes 1,531 1,581 +49 103.2 20.9 21.5 +0.5 102.8 Non-commuter Passes 6,419 15,732 +9,312 245.1 168.6 407.4 +238.7 241.5 Total 7,950 17,313 +9,362 217.8 189.6 428.9 +239.3 226.2 Conventional Lines Kanto Area Commuter Passes 52,995 53,766 +771 101.5 342.8 352.5 +9.7 102.8 Non-commuter Passes 19,800 30,289 +10,489 153.0 383.7 587.4 +203.7 153.1 Network Total 72,795 84,056 +11,260 115.5 726.5 940.0 +213.4 129.4 Other Commuter Passes 2,614 2,625 +11 100.4 15.4 15.8 +0.4 102.8 Network Non-commuter Passes 1,190 2,001 +811 168.1 22.6 39.1 +16.4 172.8 Total 3,804 4,626 +832 121.6 38.0 54.9 +16.9 144.4 Total Commuter Passes 55,609 56,391 +782 101.4 358.3 368.4 +10.1 102.8 Non-commuter Passes 20,990 32,291 +11,300 153.8 406.3 626.5 +220.2 154.2 Total 76,599 88,682 +12,083 115.8 764.6 995.0 +230.3 130.1 Total Commuter Passes 57,140 57,973 +832 101.5 379.2 390.0 +10.7 102.8 Non-commuter Passes 27,410 48,023 +20,613 175.2 575.0 1,034.0 +458.9 179.8 Total 84,550 105,996 +21,445 125.4 954.3 1,424.0 +469.6 149.2 50#51Suica Number of e-money available shops Largest number of e-money transactions in one month JR JR-EAST (thousand) * Figures include results of other affiliated stores. (10 million) * Figures include results of other affiliated stores. 30 1,200 1,150 1,123 1,100 25.3 1,050 Other member shops 25 1,000 940 950 ■ Suica member shops outside station 22.0 900 Suica member shops inside station 850 800 20 20 Largest number of e-money transactions in one month 750 700 650 15 600 550 500 Start of mutual use of Suica 450 400 (Mar. 2007) and PASMO card sevices 10 350 300 250 200 LO 5 150 100 1.2 50 0 '07/3'08/3'09/3'10/3'11/3'12/3'13/3'14/3'15/3'16/3'17/3'18/3'19/3'20/3'21/3 【Compatible stores】 1,123,520 (119.4%) 【Compatible locations (terminals)】 1,908,720 (120.1%) [Figures are as of Mar. 31, 2021.] '11/3 '12/3 '13/3 '14/3 '15/3 '16/3 '17/3 '18/3 '19/3 '20/3 '21/3 0 '07/3 【Suica cards issued) Figures in parentheses are percentage changes from the previous year. 【Transaction per month (highest ever)】 【Transaction per day (highest ever)] * [Figures are as of Mar. 31, 2021.] 85.89 million (103.8%) 252.61 million (Dec. 2019) 9.58 million (20 Dec. 2019) Figures in parentheses are percentage changes from the previous year. 51#52Mobile Suica/eki-net/JRE POINT Number of Mobile Suica members (10 thousand) 1,200 (10 thousand) 1,400 1,092 March 2021 Revamping Mobile 1,000 1,200 Suica app I Number of eki-net members (10 thousand) 1,400 1,330 1,200 1,000 1,000 800 October 2019 Beginning the service of granting JRE POINT when using 800 800 Suica for railways 600 400 200 0 '12/3 '13/3 '14/3 15/3 16/3 '17/3 '18/3 '19/3 20/3 '21/3 JR JR-EAST Number of JRE POINT members October 2019 Beginning the service of granting JRE POINT when using Suica for railways June 2018 Integration of View Thanks 600 600 Point to JRE POINT 400 400 200 0 '12/3 '13/3 '14/3 '15/3 '16/3 '17/3 '18/3 119/3 '20/3 '21/3 200 '16/9 '17/3 '17/9 '18/3 '18/9 '19/3 '19/9 '20/3 '20/9 '21/3 52 1,236#53Additional Information for bond Investors JR Key Financial Indicators (1) Trend in Net Interest-bearing Debt / EBITDA JR-EAST (\billion) 1,000.0 (times) 5.0 847.3 830.4 849.2 853.5 4.2 800.0 4.0 755.5 600.0 3.5 3.5 3.4 3.4 3.0 400.0 200.0 0.0 (200.0) 2016.3 2017.3 2018.3 EBITDA (left scale) [Reference] 2016.3 Net interest-bearing debt (\billion) 2,934.1 2019.3 2020.3 2.0 1.0 0.0 (131.5) (1.0) 2021.3 2018.3 Net interest-bearing debt/EBITDA (right scale) 2017.3 2019.3 2020.3 2021.3 2,923.9 2,864.7 2,899.9 3,158.5 4,152.2 53#54Additional Information for bond Investors JR Key Financial Indicators(2) (times) 12.0 Trend in Interest Coverage Ratio and Debt to Equity Ratio 10.0 9.2 8.8 [Notes] 10.9 10.5 JR-EAST (times) 2.0 1.7 9.0 1.5 8.0 1.3 1.2 1.1 1.1 1.0 10 6.0 1.0 4.0 2016.3 2017.3 2018.3 2019.3 Interest coverage ratio (left scale) 2020.3 0.5 2021.3 Debt to equity ratio (right scale) 1) Interest coverage ratio = Net cash provided by operating activities / payments of interest 2) Debt to Equity Ratio = Interest-bearing debt / Shareholder's equity 3) Interest coverage ratio in FY2021.3 is not stated because it is negative. 54#55Interest-bearing Debt Breakdown and Maturity Outlook ¦ Additional Information for bond Investors Breakdown of consolidated interest-bearing debt (As of Mar. 31, 2021) JR JR-EAST Bonds Long-term loans Long-term liabilities incurred for purchase of railway facilities Other interest-bearing debt Total Balance (billion) Breakdown Average interest rate 2,020.3 46.5% 1.32% Average maturity 13.78 years 1,291.8 29.7% 0.89% 6.61 years 323.0 7.4% 6.53% 19.99 years 715.0 16.4% 0.11% 0.33 years 4,350.2 100.0% 1.38% 9.90 years (¥\billion) 400 Long-term loans Bonds Redemption ladder of interest-bearing debt (consolidated, excluding short-term debt) Long-term liabilities incurred for purchase of railway facilities 371.0 4.0 292.3 300 256.3 4.2 238.8 227.1 152.0 3.7 4.6 4.2 225.7 4.5 200 183.1 114.2 141.5 132.9 141.2 100 215.0 120.0 111.0 105.0 90.0 80.0 0 2021.3 2022.3 2023.3 2024.3 2025.3 2026.3 (Results) [Notes] 1) Outlook as of Apr. 30, 2021 2) Bond redemptions are at face value 55#56100.0 Outlook of Bond Maturity (\ billion) 250.0 200.0 150.0 Additional Information for bond Investors JR JR-EAST Redemption ladder of bonds(non-consolidated) Domestic bonds (unsecured, issued in 2021.4) Domestic bonds (unsecured, issued in FY2021.3) □ Euro-GBP bonds □ Domestic bonds (unsecured) Domestic bonds (general mortgage) 90.0 45.0 30.0 50.0 90.0 11.b 65.0 60.0 60.0 60.0 65.0 0.0 30.0 2021.3 2022.3 2023.3 2024.3 2025.3 2026.3 2027.3 2028.3 [Notes] 1) Outlook as of Apr. 30, 2021 2) Redemptions are at face value 2029.3 2030.3 2031.3 20.0 2032.3 2033.3 2034.3 2035.3 2036.3 2037.3 2038.3 2039.3 2040.3 2041.3 90.0 85.0 30.0 60.0 50.0 40.0 35.0 30.0 30.0 20.0 20.0 20.0 78.2 52.5 50.3 58.7 2042.3 2043.3 2044.3 2045.3 2046.3 2047.3 10.0 10.0 30.0 30.0 35.0 40.0 2048.3 2049.3 2050.3 40.0 20.0 20.0 2051.3 2052.3. 2057.3 2058.3 2059.3 40.0 85.0 15.0 20.0 2060.3 2061.3 2062.3 2070.3 2071.3 2072.3 56#57Bonds Issuance in FY2021.3 Additional Information for bond Investors JR JR-EAST Total amount Issue Series Tenor Coupon of issue price Reoffer yield JGB Spread Issue date Maturity date 146 3 ¥ 50.0 billion 0.150% ¥100 0.150% 2020.4.22 2023.4.21 147 10 ¥20.0 billion 0.265% ¥100 0.265% +25.5bp 2020.4.22 2030.4.22 148 20 ¥ 10.0 billion 0.569% ¥100 0.569% +24bp 2020.4.22 2040.4.20 149 30 ¥ 10.0 billion 0.697% ¥100 0.697% +25bp 2020.4.22 2050.4.22 150 40 ¥15.0 billion 0.832% ¥100 0.832% +36bp 2020.4.22 2060.4.22 151 50 ¥20.0 billion 0.992% ¥100 0.992% 2020.4.22 2070.4.22 152 5 ¥20.0 billion 0.090% ¥100 0.090% 2020.7.20 2025.7.18 153 10 ¥15.0 billion 0.230% ¥100 0.230% | +21.5bp 2020.7.20 2030.7.19 154 20 ¥10.0 billion 0.610% ¥100 0.610% +22bp 2020.7.20 2040.7.20 155 30 ¥20.0 billion 0.763% ¥100 0.763% 156 40 ¥20.0 billion 0.902% ¥100 +21bp 0.902% +33bp 2020.7.20 2050.7.20 2020.7.20 2060.7.20 157 3 ¥100.0 billion 0.001% ¥100.003 0.000% 2020.10.20 2023.10.20 57#58Bonds Issuance in FY2021.3 Additional Information for bond Investors JR JR-EAST Total amount Issue Reoffer Series Tenor Coupon of issue price yield JGB Spread Issue date Maturity date 158 20 ¥20.0 billion 0.560% ¥100 0.560% +17.5bp 2020.12.18 2040.12.18 159 30 ¥30.0 billion 0.836% ¥100 0.836% 160 40 ¥25.0 billion 0.970% ¥100 +19.5bp 0.970% +30bp 2020.12.18 2050.12.16 2020.12.18 2060.12.17 161 50 ¥ 15.0 billion 1.152% ¥100 1.152% 2020.12.18 2070.12.18 2nd Sustainability 10 ¥30.0 billion 0.205% ¥100 0.205% +17.5bp 2021.1.25 2031.1.24 Bonds 58#59Bonds Issuance in 2021.4 Additional Information for bond Investors JR JR-EAST Series Tenor Total amount of issue Issue Coupon price Reoffer yield JGB Spread Issue date Maturity date 162 3 ¥45.0 billion 0.001% ¥100.003 0.000% 2021.4.15 2024.4.15 163 5 ¥ 30.0 billion 0.050% ¥100 0.050% 2021.4.15 2026.4.15 164 10 ¥20.0 billion 0.245% ¥100 0.245% +14.5bp 2021.4.15 2031.4.15 165 20 ¥30.0 billion 0.596% ¥100 0.596% +13.5bp 2021.4.15 2041.4.15 166 30 ¥20.0 billion 0.847% ¥100 0.847% +18bp 2021.4.15 2051.4.14 167 40 ¥20.0 billion 0.978% ¥100 0.978% +29.5bp 2021.4.15 2061.4.15 168 50 ¥35.0 billion 1.142% ¥100 1.142% 2021.4.15 2071.4.15 59#60These materials and the video of the presentation can be viewed at the JR East's web site. JR East Web site, IR (Investor Relations) https://www.jreast.co.jp/e/investor/index.html Forward-Looking Statements Statements contained in this report with respect to JR East's plans, strategies and beliefs that are not historical facts are forward- looking statements about the future performance of JR East, which are based on management's assumptions and beliefs in light of the information currently available to it. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause JR East's actual results, performance or achievements to differ materially from the expectations expressed herein. These factors include, without limitation, (i) JR East's ability to successfully maintain or increase current passenger levels on railway services, (ii) JR East's ability to improve the profitability of railway and other operations, (iii) JR East's ability to expand non-transportation operations, and (iv) general changes in economic conditions and laws, regulations and government policies in Japan.