#1MAEDA Maeda Corporation Financial Results FY2018 (April 1, 2018 – September 30, 2018) Nov 12, 2018 Soji Maeda President and Representative Director#2Contents ■Financial Summary Latest Highlights by Segments ■Topics © 2018 MAEDA CORPORATION 1#3Financial Summary 2018 MAEDA CORPORATION 2#440.0 FY2018 2Q Financial Highlights of Consolidated (Billions of yen) Gross Profit 30.0 20.0 10.0 0.0 3 (Billions of yen) 13.9% 13.6% 15.0% Operating Profit 20.0 8.3% 10.0% 7.6% 17.8 10.8% 30.0 16.8 8.0% 15.0 29.8 10.0% 21.1 5.0% 9.7 6.0% 10.0 4.0% 5.0% 5.0 2.0% 0.0% 0.0 0.0% FY2009 2Q FY2010 2Q FY2011 2Q FY2012 2Q FY2013 2Q FY2014 2Q FY2015 2Q (Billions of yen) 25.0 20.0 Ordinary Profit FY2016 2Q FY2017 2Q FY2018 2Q 15.0 10.0 5.0 0.0 -5.0 FY2009 2Q FY2009 2Q FY2010 2Q FY2011 2Q FY2012 2Q FY2013 2Q FY2014 2Q FY2015 2Q FY2016 2Q FY2017 2Q Profit attributable to owners of parent FY2018 2Q 8.0% 5.6% 5.4% 4.9% 11.9 11.9 6.0% 9.6 (Billions of yen) 10.0% 15.0 9.0% 8.0% 8.0% 17.8 10.0 6.0% 19.2 6.0% 11.7 4.0% 5.0 2.0% 0.0 0.0% -2.0% -5.0 FY2010 2Q FY2011 2Q FY2012 2Q FY2013 2Q FY2014 2Q FY2015 2Q FY2016 2Q FY2017 2Q FY2018 2Q FY2009 2Q FY2010 2Q FY2011 2Q FY2012 2Q FY2013 2Q © 2018 MAEDA CORPORATION FY2014 2Q FY2015 2Q FY2016 2Q FY2017 2Q FY2018 2Q 4.0% 2.0% 0.0% -2.0%#5FY2018 2Q Financial Highlights of Non-Consolidated (Billions of yen) Gross Profit 25.0 20.0 15.0 10.0 5.0 0.0 4 (Billions of yen) 13.5% 13.2% Operating Profit 15.0% 20.0 10.0% 8.7% 10.1% 23.5 23.6 15.0 10.0% 16.4 10.0 5.0% 5.0 7.9% 8.0% 14.1 6.0% 5.1% 15.0 4.0% 8.2 FY2009 2Q FY2010 2Q FY2011 2Q FY2012 2Q FY2013 2Q FY2014 2Q (Billions of yen) 20.0 Ordinary Profit FY2015 2Q FY2016 2Q FY2017 2Q FY2018 2Q 15.0 10.0 5.0 0.0 0.0% 0.0 FY2009 2Q FY2010 2Q (Billions of yen) FY2011 2Q FY2012 2Q FY2013 2Q FY2014 2Q Net Profit FY2015 2Q FY2016 2Q FY2017 2Q FY2018 2Q 15.0 12.0% 9.6% 9.0% 10.0% 16.2 10.0 16.7 8.0% 6.0% 6.0% 5.0 9.7 4.0% 0.0 2.0% 0.0% -5.0 FY2009 2Q FY2010 2Q FY2011 2Q FY2012 2Q FY2013 2Q FY2014 2Q FY2015 2Q FY2016 2Q FY2017 2Q FY2018 2Q FY2009 2Q FY2010 2Q FY2011 2Q FY2012 2Q FY2013 2Q FY2014 2Q © 2018 MAEDA CORPORATION FY2015 2Q FY2016 2Q 2.0% 0.0% 8.0% 6.5% 6.2% 5.4% 11.7 6.0% 10.9 8.8 4.0% FY2017 2Q FY2018 2Q 2.0% 0.0% -2.0%#6Financial Summary of Consolidated (Billions of yen) FY2017 FY2018 FY2018 Apr.1 - Sep.30 Year Apr.1 - Sep.30 (Estimate) on Revised year Apr. 1 - Results Results (Mar 14) Mar. 31 (a) (%) (%) (b) (%) (b)-(a) (%) Net Sales 213.7 100 238.0 100 221.0 100 7.3 478.0 100 Gross profit 29.8 13.9 26.7 11.2 30.0 13.6 0.2 57.4 12.0 Administrative 12.0 5.6 12.9 5.4 13.2 6.0 1.2 27.4 5.7 expenses Operating 17.8 8.3 13.8 5.8 16.8 7.6 ▲ 1.0 30.0 6.3 profit Ordinary 19.2 9.0 14.8 6.2 17.8 8.0 ▲ 1.4 32.6 6.8 profit Profit attributable to owners of Parent 11.9 5.6 10.0 4.2 11.9 5.4 10.1 21.5 4.5 © 2018 MAEDA CORPORATION 5#7Financial Summary of Consolidated 【Net Sales and Gross Profit Segment Breakdown] FY2017 (Apr.1-Sep.30) FY2018 (Apr.1-Sep.30) (Billions of yen) FY2018 (Estimate) Net sales Results (%) Results (%) Apr.1 - Mar. 31 (%) Building 117.0 54.8 130.6 59.1 284.5 59.5 Civil Engineering 69.5 32.5 64.0 28.9 139.0 29.1 Manufacturing 18.1 8.5 16.9 7.7 36.3 7.6 Infrastructure 8.4 3.9 8.8 4.0 16.7 3.5 Management Others 0.7 0.3 0.8 0.3 1.5 0.3 Total 213.7 100 221.0 100 478.0 100 FY2017 (Apr.1-Sep.30) FY2018 (Apr.1-Sep.30) FY2018 (Estimate) Gross profit Results (%) Results (%) Apr.1 - Mar. 31 (%) Building 14.0 12.0 14.5 11.1 27.8 9.8 Civil Engineering 9.6 13.8 9.6 14.9 18.2 13.1 Manufacturing 3.1 17.0 3.0 17.6 6.6 18.2 Infrastructure 2.7 31.7 2.5 28.3 4.1 24.6 Management Others 0.4 59.6 0.4 58.1 0.7 46.7 Total 29.8 13.9 30.0 13.6 57.4 12.0 2018 MAEDA CORPORATION 6#8Financial Summary of Principal Subsidiaries and Affliates (Subsidiaries) 7 (Millions of yen) Maeda Seisakusho Co., Ltd. FY2017 2Q FY2018 2Q FY2018(E) FBS Miyama Co., Ltd. Fujimi Koken Co., Ltd. FY2017 2Q FY2018 2Q FY2018(E) FY2017 2Q FY2018 2Q FY2018(E) Net sales 16,242 16,042 33,500 9,172 9,137 21,500 4,142 4,508 8,900 Operating profit 639 492 1,300 321 400 1,220 242 206 470 Ordinary 699 556 1,380 344 416 1,247 252 218 480 profit Net profit 477 386 950 376 255 835 226 208 425 JM Corporation FY2017 2Q FY2018 2Q FY2018(E) Aichi Road Concession Co., Ltd FY2017 2Q FY2018 2Q FY2018(E) * Aichi Road Concession Co., Ltd includes Aichi Road Concession G.K. Net sales Operating profit 10,194 11,346 26,000 7,975 8,191 15,520 ▲ 42 A63 400 2,265 1,985 3,144 Ordinary profit Net profit ▲ 34 ▲ 50 400 1,433 1,171 1,543 ▲ 43 A63 250 1,323 1,076 1,399 (Affiliates by equity method) (Millions of yen) Maeda Road Construction Co., Ltd. Toyo Construction Co., Ltd. Hikarigaoka Corporation FY2017 2Q FY2018 2Q FY2018(E) FY2017 2Q FY2018 2Q FY2018(E) FY2017 2Q FY2018 2Q FY2018(E) Net sales 98,541 92,855 223,000 74,742 69,478 150,000 23,388 23,505 48,000 Operating 8,811 5,463 22,700 profit 4,306 2,802 7,200 348 402 535 Ordinary 9,137 5,743 23,100 4,060 profit 2,971 6,800 682 798 835 Net profit 6,263 3,796 14,500 2,738 1,949 4,500 526 612 350 © 2018 MAEDA CORPORATION#9Financial Summary of Non-Consolidated FY2017 (Billions of yen) FY2018 FY2018 Apr. 1 - Sep.30 Apr.1 - Apr.1 - Sep.30 Year Mar. 31 Revised on Results Results Estimate (Mar 14) year (a) (%) (%) (b) (%) (b)-(a) (%) Net sales 173.7 100 195.0 100 179.1 100 5.4 388.0 100 Gross profit 23.5 13.5 20.4 10.5 23.6 13.2 0.1 43.5 11.2 Administrative 8.4 4.9 9.1 4.7 9.5 5.3 1.1 19.5 5.0 expenses Operating 15.0 8.7 11.3 5.8 14.1 7.9 ▲0.9 24.0 6.2 profit Ordinary 16.7 9.6 12.8 6.6 16.2 9.0 ▲0.5 25.4 6.5 profit Net profit 10.9 6.2 9.0 4.6 11.7 6.5 0.8 17.2 4.4 © 2018 MAEDA CORPORATION 10#10Financial Summary of Non-Consolidated [Net Sales and Gross Profit Segment Breakdown] FY2017 (Apr.1 - Sep.30) FY2018 (Apr.1 - Sep.30) 9 (Billions of yen) FY2018 (Apr.1 – Mar. 31) Revised Results (%) (%) Results (%) Estimate (%) (Mar 14) Net sales 173.7 100 195.0 100 179.1 100 388.0 100 Building Civil Eng. Domestic 98.8 56.9 126.0 64.6 113.8 63.5 241.0 62.1 Overseas 1.7 1.0 1.0 0.5 0.4 0.2 2.5 0.6 Total 100.5 57.9 127.0 65.1 114.1 63.7 243.5 62.8 Domestic 64.3 37.0 65.4 33.5 61.9 34.6 140.0 36.1 Overseas 7.5 4.3 1.4 0.7 1.7 0.9 2.0 0.5 Total 71.8 41.3 66.8 34.3 63.6 35.5 142.0 36.6 Infrastructure 0.7 0.4 0.5 0.3 0.6 0.4 1.0 0.3 Management Business Real Estate 0.7 0.4 0.7 0.4 0.8 0.4 1.5 0.4 Gross profit 23.5 13.5 20.4 10.5 23.6 13.2 43.5 11.2 Building Domestic 12.7 12.8 12.6 10.0 13.1 11.5 24.1 10.0 Overseas 0.1 5.4 0.1 10.0 0.2 52.3 0.2 8.0 Total 12.8 12.7 12.7 10.0 13.3 11.7 24.3 10.0 Civil Eng. Domestic 10.3 16.1 6.8 10.4 8.1 13.1 17.1 12.2 Overseas ▲ 0.7 ▲9.4 0.1 7.1 1.1 68.1 0.4 20.0 Total 9.6 13.4 6.9 10.3 9.3 14.5 17.5 12.3 Infrastructure 0.7 99.7 0.5 100 0.6 99.8 1.0 100 Management Business Real Estate 0.4 58.8 0.3 42.9 0.4 57.5 0.7 46.7 PUIC COM#11Orders Received of Non-Consolidated (Billions of yen) 10 FY2017 (Apr.1 - Sep.30) Results FY2017 (Apr.1 - Sep.30) Revised (Mar 14) FY2018 (Apr.1 - Mar. 31) Results Estimate Domestic 157.0 109.0 94.4 214.0 Public 5.6 10.0 17.4 27.0 Building Civil Eng. Private 151.5 99.0 77.0 187.0 Overseas 3.1 1.0 5.0 6.0 Building Total 160.1 110.0 99.5 220.0 Domestic 83.7 55.0 69.0 100.0 Public 54.0 39.0 57.6 80.0 Private 29.7 16.0 11.4 20.0 Overseas 3.8 3.0 0.8 5.0 Civil Eng. Total 87.5 58.0 69.7 105.0 Infrastructure Management Business 0.7 0.6 Real Estate 0.7 0.8 Domestic Public Private 240.7 164.0 163.4 314.0 59.5 49.0 75.0 107.0 181.2 115.0 88.4 207.0 Total Overseas Infrastructure Management Business Real Estate 6.9 4.0 5.8 11.0 0.7 0.6 0.7 0.8 Total 249.0 168.0 170.7 325.0#12Latest Highlights by Segments 2018 MAEDA CORPORATION 11#13Building Construction 2018 MAEDA CORPORATION 12#14Full Year Second Quarter Building Construction 【Net Sales and Gross Profit Ratio] ■【2Q] Domestic net sales increased due to progress of large-scale projects 【Full Year】 Domestic gross profit expected to achieve forecast Domestic Overseas (Billions of yen) Net sales (Billions of yen) Gross profit Major local subsidiary Direct control 150.0 Gross profit ratio estimate_beginning of year Gross profit ratio_Results 20% Ratio of gross profit_Results 15.0 10.4% 12% 6.7% 12.8% 15% 100.0 10,9% 10.0 7.5 5.7% 8% 11.5% 5.0 3.5 10% 5.0 4% 0.5 0.2 0.4 9.6% 113.8 10.0% 50.0 98.9 7.9% 98.8 0.0 0% 5% Net sales 10.8 12.7 13.1 Gross profit Net sales Gross profit Net sales Gross profit 0.0 0% FY2016 2Q (Results) FY2017 2Q (Results) FY2018 2Q (Results) FY2016 2Q (Results) FY2017 2Q Net sales (Billions of yen) Gross profit (Billions of yen) 300.0 Gross profit ratio estimate_beginning of year Gross profit ratio_Results 20% (Results) Major local subsidiary Direct control Ratio of gross profit_Results FY2018 2Q (Results) 15.0 12.9 12% 12.0% 11.3% 15% 9.9 10.2 200.0 10.0 8% 4.7% 6.1% 10% 5.0 4% 225.1 241.0 10.0% 0.6 0.6 0.7 100.0 196.3 9.9% 7.8% 22.2 5% 0.0 0% 26.9 24.1 Net sales Gross profit Net sales Gross profit Net sales Gross profit 0.0 0% FY2016 (Results) FY2017 (Results) FY2018 (Estimate) FY2016 (Results) FY2017 FY2018 (Results) (Estimate) © 2018 MAEDA CORPORATION 13#15Full Year Second Quarter Building Construction 【Orders Received and Profit Ratio when Orders Were Accepted 】 ■【2Q) Domestic profit ratio orders are well, continue Premeditated order ■【Full Year) Domestic orders received and profit ratio when accepted orders expected to achieve forecast Domestic Orders received (Private) Overseas (Billions of yen) Orders received (Public) Orders received (Major local subsidiary) (Billions of yen) 400.0 300.0 Profit ratio estimate when orders were accepted _beginning of the year Orders received Profit ratio when accepted orders_were accepted results 20.0 10% 7.4% 7.3% 8% 15.0 6.3% 200.0 5.7% 5.8% 6% 9.4 10.0 7.0 157.1 5.0% 94.5 94.4 4% 6.3 2.0 100.0 5.0 151.5 2% 1.7 82.4 77.0 5.0 5.6 1.0 0.0 12.1 17.4 0% 0.0 0.7 3.1 FY2016 2Q (Results) FY2017 2Q (Results) FY2018 2Q FY2016 2Q (Results) (Results) FY2017 2Q (Results) FY2018 2Q (Results) Orders received (Private) (Billions of yen) (Billions of yen) Orders received (Major local subsidiary) Orders received (Public) 500.0 Profit ratio estimate when orders were accepted _beginning of the year 20.0 Orders received 10% Profit ratio when accepted orders were accepted results 400.0 6.4% 8% 15.0 6.7% 12.5 300.0 242.8 5.8% 6% 9.6 10.0 8.6 200.0 5.0% 218.7 5.7% 214.0 6.5 4% 6.4 5.0 7.0 100.0 206.4 206.0 187.0 2% 6.0 3.2 0.0 36.4 FY2016 (Results) 1.6 12.7 FY2017 (Results) 270 0% 0.0 FY2018 (Estimate) FY2016 FY2017 (Results) (Results) FY2018 (Estimate) © 2018 MAEDA CORPORATION 14#16Building Construction 15 【New Orders Ratio by Building Use】 ■Due to increase new orders for offices and residences, number of orders expected to be well- balanced in various categories New orders ratio 100% 8.1% 12.5% 【6.3%] 【6.5%】 90% 19.8% 【7.2%】 19.5% 【7.7%】 23.0% The figures in the brackets signify the profit ratio when orders were received Office-Govemment office buildings 24.5% 80% 【7.1%】 70% 38.8% Commercial facilities Factories Power plants 【7.2%】 35.0% 25.0% Warehouses Logistics facilities 39.5% 60% 【7.2%】 【6.8%】 Residences 50% 41.1% 【5.0%】 ☐ 40% 27.6% 16.8% 14.9% 【6.9%】 30.0% Educational and 【5.6%) 30% 【6.9%】 4.8% 15.7% research institutions Medical and welfare facilities 12.4% 20% (7.5%) 【5.6%】 【6.8%】 11.0% 10.0% ■ Others 【5.0%)】 10% 0% FY2014 (Results) FY2015 (Results) FY2016 (Results) FY2017 2Q (Results) FY2018 (Estimate) © 2018 MAEDA CORPORATION#17Civil Engineering 2018 MAEDA CORPORATION 16#18Full Year Second Quarter Civil Engineering [Net sales and Gross profit Ratio】 ■【2Q] Domestic net sales slightly decreased but gross profit ratio expected to increase due to progress of large-scale projects ■【Full Year) Domestic net sales and gross profit ratio expected to achieve forecast Domestic Overseas Net sales (Billions of yen) 100.0 (Billions of yen) Net sales Gross profit Gross profit Gross profit ratio estimate_beginning of year Gross profit ratio_Results 25% 10.0 16.1% 20% 14.2% 13.1% 5.0 15% 7.5 50.0 10% 0.9 57.7 10.2% 64.3 10.4% 61.9 10.4% 0.0 5% 1.1 1.7 0.7 8.2 10.3 8.1 0.0 0% -5.0 3.4 FY2016 2Q (Results) FY2017 2Q (Results) FY2018 2Q (Results) FY2016 2Q (Results) FY2017 2Q (Results) FY2018 2Q (Results) Net sales (Billions of yen) Gross profit (Billions of yen) 200.0 Gross profit ratio estimate_beginning of year Gross profit ratio_Results Net sales Gross profit 25% 10.0 15.6% 16.0% 20% 5.0 8.1 15% 0.1 2.0 0.4 100.0 0.0 134.6 11.9% 12.5% 132.9 140.0 12.2% 10% -5.0 3.1 5% 9.4 21.0 21.3 17.1 0.0 0% -10.0 FY2016 (Results) FY2017 (Results) FY2018 (Estimate) FY2016 (Results) FY2017 (Results) FY2018 (Estimate) © 2018 MAEDA CORPORATION 17#19Civil Engineering 【Orders received and Profit ratio when orders accepted] ■【2Q] Domestic orders received and profit ratio when accepted orders expected to achieve forecast 【Full Year】 Continue to bid in consideration of capability and profitability Domestic 18 Overseas Orders received (Private) Orders received (Private) (Billions of yen) (Billions of yen) Orders received (Public) Orders received (Public) 200.0 Profit ratio estimate when orders were accepted _beginning of the year 15.0% 6.0 6.0% Profit ratio when accepted orders were accepted results Second Quarter 5.0% 150.0 84.3 109.0 9.8% 69.0 4.0 5.0% 5.0% 4.0% 7.2% 10.0% 4.1% 6.9% 7.4% 8.3% 100.0 26.4 2.0 3.8 2.0% 7.9% 30.3 11.4 5.0% 0.8 50.0 82.6 0.0 0.0% 54.0 57.6 0.0% 1.0 0.0 0.0% -2.0 -2.0% FY2016 2Q (Results) FY2017 2Q (Results) FY2018 2Q (Results) FY2016 2Q (Results) FY2017 2Q (Results) FY2018 2Q (Results) Orders received (Private) Orders received (Private) (Billions of yen) (Billions of yen) Orders received (Public) 300.0 Profit ratio estimate when orders were accepted _beginning of the year 15.0% 9.0 Orders received (Public) 6.0% Profit ratio when accepted orders were accepted results Full Year 250.0 200.0 205.9 144.7 6.0 5.0% 5.0% 5.0% 4.0% 100.0 7.2% 9.4% 10.0% 69.4 150.0 7.9% 3.0 2.0% 5.0 2.9 100.0 7.2% 57.9 7.3% 5.0% 20.0 0.0 0.0% 136.4 50.0 86.8 80.0 2.3 0.4% 0.0 0.0% -3.0 -2.0% FY2016 (Results) FY2017 (Results) FY2018 (Estimate) FY2016 (Results) FY2017 (Results) FY2018 (Estimate) © 2018 MAEDA CORPORATION#20Acquisition rate of the first prize engineering evaluation Rate of orders received Civil Engineering (Domestic) 【Status of initiatives for comprehensively assessed projects】 Rate of orders received (amount, number) greatly improved by selection of bidding projects ■Acquisition rate of the first prize engineering proposal and rate of orders received (Amount) also maintained high level 70% 60% Rate of orders (amount of money) Rate of orders (number) 59.7% 50% 53.3% 40% 36.0% 34.6% 33.9% 30% 21.6% 18.6% 25.8% 20% 10% 18.3% 17.0% Upward 0% FY2014 FY2015 FY2016 FY2017 FY2018 2Q 50% 42.6% 40.0% 40% 35.5% 30% 27.1% 30.7% 20% 10% 0% FY2014 FY2015 FY2016 FY2017 FY2018 2Q Upward Rate of orders received with first prize engineering evaluation 100% 80% 66.7% 60% 60.0% 40% 41.7% 20% 0% FY2016 FY2017 FY2018 2Q © 2018 MAEDA CORPORATION Upward 19#21Infrastructure Management 2018 MAEDA CORPORATION 20#22Renewable Energy Projects Project Location AC FIT Price Total project cost Description Tsukuba City, Electric power Approx. Ibaraki 2 MW ¥40 JPY 0.6 billion Prefecture Ofunato City, Iwate 18 MW ¥40 Approx. Solar Power Prefecture Generation Ibaraki 6.5 MW ¥36 Approx. Prefecture JPY 2.1 billion Yamaguchi 7 MW ¥40 Approx. Prefecture JPY 2.8 billion | Yamanashi 18 MW ¥36 Prefecture Aomori 20 MW \22 Approx. Wind Power Prefecture JPY 11.3 billion Generation Akita 20 MW \22 Approx. Prefecture JPY 7.2 billion JPY 6.4 billion Approx. JPY 7.0 billion sales started in March 2013 Electric power sales started in August 2015 Sold in March, 2016 Electric power sales started in August 2017 Under Construction Sold in June, 2016 Under Construction 91.5 MW Total Approx. JPY 37.0 billion Offshore Wind Shimonoseki City, Approx. Power Yamaguchi 60 MW Developing JPY 35.0 billion Generation Prefecture Geothermal Hokkaido Power Prefecture Generation Total 2 MW 153.5 MW © 2018 MAEDA CORPORATION Approx. JPY 2.0 billion Approx. JPY 74.0 billion Investigating 21#23Infrastructure Management 【Contribution to Consolidated Profit) (Billions of yen) FY2016 FY2017 FY2018 Results Results Estimate Contribution to Consolidated profit 2.2 4.6 5.8 Detailed Breakdown Consolidated subsidiaries profit (Aichi Prefectural toll road concession, 1.9 3.9 3.6 Ofunato Solar Power etc.) Contribution to Non-consolidated results 0.2 0.7 1.0 (O&M, EPC, Business consignment profit such as development etc.) Other profits 0.1 0.0 1.2 * Other profits include from Sale's Profit and Non-consolidated special purpose company's stock dividend etc. © 2018 MAEDA CORPORATION 22#2423 Main Concession Project under Planning in Japan <Legend> : Operation commenced : Operation commenced (Maeda Corp has invested) Kansai & Osaka Int'l Airports (Operation commenced in March 2016) Osaka City water & sewer Kobe City (Habor land) Kobe Airport (Operation commenced in April 2018) Hiroshima Airport ( Bid starts around FY2018) Fukuoka Airport (Operation commenced in November 2018) Fukuoka City (Redevelopment of Waterfront Area) Bid starts around FY2019 ) Kumamoto Airport | Kagoshima Airport Takamatsu Airport (Operation commenced in April 2018) Bid starts : Bid starts (Under consideration) The Justice Ministry (Old Nara Prison renovating for cultural property status) (Operation commences in October 2018) Aichi International Exhibition Center Nara City water & sewer Otsu City (Gas Business) ( Operation commenced in April 2018) (Operation commences in September 2019) B Aichi Prefectural Toll Road (Operation commenced in October 2016) © 2018 MAEDA CORPORATION Aomori Airport : During bidding مس Miyagi Prefecture water & sew New Chitose Airport, etc. (Bid starts around FY2019 ) Sendai Airport ( Operation commenced in July 2016) Miura City sewer Shizuoka Airport Chiba Prefectural I Toll Road (Operation commences in 2019) Hamamatsu City sewer (Operation commenced in April 2018) Hamamatsu City water#25Aichi Prefectural Toll Road Concession October 1, 2018 - Second anniversary of Our operation Achievements (Billions of yen) Operating Nagoya-Seto Expressway 2.3km Net Sales profit Sanage Green Road 13.1km Chitahanto Road FY2016 2Q 7.5 1.8 20.9km Kinu-Ura-Toyota Road Chita Odan Road 4.3km| FY2017 15.7 3.6 8.5km FY2018 (Estimate) 15.5 3.1 Kinu-Ura Tunnel 1.7km Centrair Line Central Japan Airport Road Total 8.6 Minamichita Road 19.6km N 2.1km ■FY2018 First Half, Revenue History (Million of yen) 1,700 1,500 1,300 Revenue FY2017 (ARC) Revenue Forecast (ARC) 1,100 Apr. May June July Revenue FY2018 (ARC) Revenue Forecast (Public corporation) Nov. Dec. Jan. Feb. Mar. Aug. Sept. Oct. © 2018 MAEDA CORPORATION 24#26Aichi Prefectural Toll Road Concession ■Improvement of Convenience, Regional Contribution July 18,2018 - Rest areas (we call "PA") renovated Toll Road Operator: Aichi Road Concession Co.,Ltd Commercial facilities operator: Daiwa Lease Co.,Ltd Tenant Aqua Ignis Corporation Città di ALB Agui PA Obu PA 愛知県道路公社 ◆効率的な管理運営の確立 (技術面 費用面) Efforts to Solving Issues on Social Infrastructure's Management 【Aichi Acceleratefield] Scheme of Demonstration of New Technology in Aichi Toll Road Concession New technology experiment in Aichi Toll Road Concession Solving issues on social infrastructure's management and maintenance thru experimenting new technology at existing infrastructure facilities 先進 技術保有者 ベンチャー企業 大学 etc 先進技術選定 ◆先進技術開発 先進技術提供 課題提示 (フィールド提供) 愛知道路コンセッション 株式会社 前田建設 MAEDA ◆優れた技術導入 ◆経営リスク軽減 ◇利益搞大 課題解決 (現場実証・効果確認) 良好な運営の提供 低廉で良質な サービスの提供 地域住民 Features ⚫ New technology experiment can be made at existing facilities for free • Anyone from various fields can participate in (if conditions are met) ◆低廉で良質なサービスの享受 ◆最先端技術の愛知集結 地域経済の活性化 ⚫ Things new technology are found to be effective can be employed at actual business fields 2018 MAEDA CORPORATION 25#27Sendai Airport Concession ■Passenger Traffic July 1, 2018 - Second anniversary of Operation Highest Ever! 3.43 million 3,500,000 3.38 million Previous Highest Record Domestic International 3,000,000 Oct 18,2018 [Pier Building JOpened ⚫Boarding Gates 9-13 • Available for new flights and additional flights •Accommodate increase of Passengers 2,500,000 2,000,000 0 2006 2007 2008 2009 2010 2011 11 " "I 11 " " "1 "1 2012 2013 2014 2015 2016 Operation Started ■Passengers and Cargo volume Target value 26 New flights and additional flights at FY2018 ⚫EVA Air additional flights and additional larger planes 2017 ⚫JAL, ANA: additional flights FY 2017 Preliminary FY 2018 FY 2020 Target value Target value FY 2044 Target value figures Passenger 3.43 3.69 4.10 5.50 (million people) Domestic 3.15 3.38 3.62 4.35 International 0.28 0.30 0.48 1.15 Cargo volume 7.0 8.0 10.0 25.0 (thousand tons) © 2018 MAEDA CORPORATION#28Sendai Airport Concession Schedule February 2016 July 2016 July 2017 October 2018 - Commencement of business for building operations - Commencement of business for airport operations - Renewed of the first floor of terminal building (By Maeda Corporation) - New pier building opened (Built by Maeda Corporation) ■Pier building started operations on October 28, 2018 無腥 2000 © 2018 MAEDA CORPORATION 10 27#29Aichi International Exhibition Center Concession Representative company: GL events SA Construction company: Maeda Corporation January 2018 - Conclusion of basic agreement April 2018 September 2018 September 2019 - Conclusion and disclosure of license - agreement - Nicknamed "Aichi Sky Expo" Decision and disclosure of Management rights [Logo mark] AICHI SKY EXPO KITA BAA 13E 303 Kyoto⚫ ⚫Osaka Airport Island "Nagoya Tokoname-shi Centrair-higashi IC 常滑市 Shizuoka. Centrair Japan Intl Airport Station Construction area (Site area:28.7ha) source: Aichi Prefecture © 2018 MAEDA CORPORATION 28#30Tokyo 2020 Olympics - Temporary Overlay Work Joint Venture Project with GL events SA Maeda GL events JV ( Investment ratio 50% : 50%) 【(Orders) Overlay Works •Canoe Slalom Course • Makuhari Messe Hall ⚫Tsurigasaki Beach Surfing Venue (First Refusal Right) Continue to work Temporary Overlay Work Security area Toilet unit with sanitary equipments Practice area Source: The Tokyo Organising Committee of the Olympic and Paralympic Games © 2018 MAEDA CORPORATION 29#3130 Water and Sewerage Concession ■Backgrounds for Public-Private Partnerships Water and Sewerage Concession in Water Supply Projects Large Investment Demand Decrease Demand Shortage of Human Resource Renewal of Aging Facilities Depopulation Awareness of Staff decrease Toughening⚫ water saving Aging of Population Earthquake Resistance There is a Possibility Raise of the Large Usage Fee and Service Worse Realize Suppress Usage fee and improving in the quality of service througe Broadening Area and Improved Efficiency Concession is influential for Broadening Area and Improved Efficiency Which has a strong track-record of work on water supply operation business, Started examination for medium and long term business alliances with SUEZ S.A.(France) (Signed a morandum of understanding on Nov 7,2018) Projects to be Implemented in the Future Ube City sewer 08 Osaka Prefecture water & sewer Osaka City water & sewer Suzaki City sewer Nara city water & sew مسے Miyagi Prefecture water & sew Murata machi water & sew -Miura City sewer Izunokuni City water & sew Hamamatsu City water & sew * Aim for a market size of 7 trillion yen by FY 2022 (Japan Revitalization Strategy2016) © 2018 MAEDA CORPORATION#32Water and Sewerage Concession ■ Outline of SUEZ S.A. Company Name: SUEZ S.A. 31 ■Global Corporate Sales in Water Business(FY 2015) Sales Rank Company Name Country ($M) (Billions of yen) Location of Head Office: Suburbs of Paris, France. (1) Veolia France 12,500 1,400.0 2 SUEZ France 8,000 896.0 Business areas: Water & Sewer, Water 3 Ecolab U.S.A 7,100 795.2 Treatment(Purified water), Waste treatment, Recycling technology 4 Pentair U.S.A 5,000 560.0 Acquired 5 Xylem U.S.A 3,700 414.4 by SUEZ Achievements: Provide services related to in 2017 6 Grundfos Denmark 3,700 414.4 wastewater management and waste management in various countries around the world 2nd best sales in the world 2017 7 American Water U.S.A 3,200 358.4 8 Sabesp Brazil 3,000 336.0 9 GE Water U.S.A 3,000 336.0 J (10) Thames Water U.K. 2,900 324.8 ... 16 Kurita Water Japan 1,800 201.6 The main Concession Business City/Country Business : Companies engaged in the water and sewerage concession (Source: Global Water Intelligence 2015) Project Period Cannes (France) Bordeaux (France) Water Water 30 years since 1993 30 years since 1992 Barcelona (Spain) Water & Sewer Macau (China) Water Casablanca (Morocco) Water & Sewer, Waste treatment, transmission of electricity 50 years since 1997 25 years since 1985, Extension agreement for 20 another years 30 years since 1997#33Topics 2018 MAEDA CORPORATION 32#34Office Project (Tentative name) Tokorozawa Station West Client Exit Project : P&D consulting CO., LTD Structure and scale: Steel construction, 1 underground Floor area floor and 11 stories : 23,499m² Construction period: Jul 2018 ~ Apr 2020 Logistics Facility Project (Tentative name) Hirakata II Logistics Center in Shodai-Otani, Hirakata, Osaka Prefecture Client : ORIX Corporation Structure and scale: Reinforced concrete- steel construction (RC-S), 4 stories Floor area : 56,916m² Construction period: Aug 2018 ~Jun 2020 33#35Educational Facility Project Itayanagi Junior High School Renovation Project Client : Itayanagi Town : 5,990m² Structure and scale: wooden construction, 2 stories Floor Area Construction period: Aug 2018 ~ Jun 2020 Cultural Facility Project 34 Client (Tentative name) Hirakata City Integrated Cultural Arts Center Construction work : Hirakata City Structure and scale: Steel construction, reinforced concrete, steel construction and reinforced concrete,, 1 underground floor and 5 stories Floor Area : 14,401m² Construction period: Oct 2018 ~ Jun 2021#36Dam Project Client Naruse Dam construction work (1st term) : Ministry of Land, Infrastructure, Transport, and Tourism Tohoku Regional Development Bureau Place of construction: Higashinaruse-village,Akita Prefecture Construction Outline: Trapezoid CSG Dam (H) 114.5m, crest length=755.0m, dam volume=48,500,000m Construction period : May 2018 ~ Dec 2022 Sewage (Shield) Project Ishinomaki City, Ishinomaki Central Trunk Line Pipe Culvert Construction work Part 4 35 Client : Japan Sewage Works Agency Place of construction: Ishinomaki City, Miyagi Prefecture Construction Outline : Reverse Circulation Type Shield Tunnel Tunnel Extension (L)= 1,928m Machine Inside Diameter 3,250mm etc (D) Construction period : Apr 2018 ~ Mar 2022 Ishinomaki City, Ishinomaki Central Trunk Line Pipe Culvert Construction work Part 4 ⚫Tunnel Extension (L) = 1,928m • Machine Inside Diameter (Q) =3,250mm [仮事務所] JR石巻線 山下中 |事務所| 陸前山下駅 JR仙石線 石巻駅 No.21 発進立坑 ·石卷税務署 (その4工事) ◎石巻市役所 ⊗石卷警察署 A 地中接合部 石巻立町郵便局 文化会館 Ishinomaki City, Ishinomaki Central Trunk Line Pipe Culvert Construction work Part 2 ⚫ Tunnel Extension (L) = 1,225m • Machine Inside Diameter () =4,250mm の2工 アイトピア 240 地山探查装置 カッタービット コピーカッター 搅拌翼(4個) コピーカッター 摩耗検知ピット (検知高さ35mm) 520 () マンホール 先行ビット/ メインビット |最外周保護ビット (最外周ローラーカッター切削外径 3810 (カッター 旧北上川 カッター駆動用油圧モーター 中折れシール (中折れ角度 3.5° ) エレクター昇降ジャッキ 後方作業台 送泥(BB) ロータリー 中折れジャ 「ジョイント バイパス管 (88) (2B×10ヶ所) 排泥管(10B)予肯送泥情(12/ エレクター摺動ジャッキ 3708(テール内径) ●3780 (シールド外径) 固定そり前胴注入口」 シールドジャッキ 注入口 テールシール (2B×8ヶ所) (ワイヤーブラシ2段)#37Construction environment (Interim Storage Facility) Project Waste disposal treatment in Futaba Town reduction storage facility (intermediate storage Client facility) Part 2 Ministry of the Environment Fukushima Regional Environment Office Place of construction: Futaba-machi, Futaba-gun, Fukushima Prefecture Construction Outline: Stoker type incinerator (processing capacity: 200 t/ day) Coke bed type melting furnace (processing capacity: 150t / day) Construction period: Mar 2018 ~ Mar 2023 Road Bridge Project Bridge at road No.52 and other 3 bridges over New Tomei Express way (PC upper part) Client Chuo Nippon Expressway Co., Ltd. (NEXCO) Place of construction: Hadano City, Kanagawa Prefecture Construction Outline PRC box girder bridge (L)= 61.5m,42.5m, 2 furnace PRC 2 main plate girder bridge (L)=49.0m,51.1m, 2 furnace Construction period: Jul 2018 ~ Oct 2022 THO MARDEN 2000 1800 7000 3500 中心線 通路中心線 コンクリート 2.05 550 800 [600] 2100 1535 【現在の施工状況10/25時点】 750 3025 1500 4750 2225 2650-1406 2000 24472-12095 20137-7000 アスファルト舗装 50mm_ (別逃工事) KLO 15 -15 2.000% -GD 36#38[Inquiries] Hiroshi Tsuge General Manager, Corporate Planning Department MAEDA CORPORATION TEL : 03-5276-5131 FAX 03-5276-5204 e-mail : [email protected] This package contains projections based on outlooks and plans currently in place as of NOV 12, 2018 and does not constitute any definite commitments or guarantees. Please note that due to various fluctuations and other occurrences with respect to economic conditions, forecast figures may differ from actual business results.