#1Presentation on FY2022 Financial Results for Investors 8301 南海 なんば駅 【南海空港特急。 rapi:t May 19, 2023 Nankai Electric Railway Co., Ltd. (Tokyo Stock Exchange, Prime Market, Securities Code: 9044) NANKAI#2Contents 1. Summary of Financial Results for FY2022 II. Business Forecasts for FY2023- III. New Management Structure- IV. Progress of the Medium-term Management Plan "Kyoso 140 Plan" Appendix NANKAI 2 -22 -29 33 -56 1#3I. Summary of Financial Results for FY2022 2#4Performance highlights (1) 3 FY2022 FY2021 Compared to FY2021 results FY2022 (Millions of yen) Compared to FY2022 forecasts results results Change (A) (B) (A-B) Percentage change forecasts (Announced October 2022) Change Percentage (C) (A-C) change Operating revenue 221,280 201,793 19,487 9.7% 227,300 -6,019 -2.6% Operating income 21,023 12,190 8,833 72.5% 17,000 4,023 23.7% Non-operating income 2,264 2,004 259 13.0% Non-operating expenses 4,322 4,263 59 1.4% Ordinary income 18,965 9,931 9,033 91.0% 14,400 4,565 31.7% Extraordinary income 3,009 25,282 -22,272 -88.1% Extraordinary losses 2,600 27,028 -24,427 -90.4% Profit attributable to 14,623 4,021 10,601 263.6% 10,100 4,523 44.8% owners of parent <Main reasons for changes compared to FY2021> Both revenue and income grew due to factors such as an increase in the number of passengers transported in the transportation business and an increase in condominium sales in the real estate business. <Main reasons for changes compared to forecasts announced in October 2022> Revenue fell due to a decrease in the amount of completed construction contracts in the construction business, while income grew mainly due to reduced expenses, including repair expenses, in each segment. NANKAI#5Performance highlights (2) 4 FY2022 FY2021 Compared to FY2021 results FY2022 (Millions of yen) Compared to FY2022 forecasts results results Change (A) (B) (A-B) Percentage change forecasts (Announced October 2022) Change Percentage (C) (A-C) change Investment 27,872 21,408 6,464 30.2% 42,800 -14,927 -34.9% Depreciation and 27,619 28,591 -972 -3.4% 27,800 -180 -0.7% amortization EBITDA* 49,645 41,568 8,077 19.4% 45,700 3,945 8.6% Interest-bearing debt 474,514 482,487 -7,972 -1.7% 479,700 -5,185 -1.1% Net interest-bearing debt 436,105 446,017 -9,911 -2.2% 455,500 -19,394 -4.3% Ratio of interest-bearing 9.6 times 11.6 times -2.0 pt - 10.5 times -0.9 pt debt to EBITDA* Ratio of net interest-bearing 8.8 times 10.7 times -1.9 pt 10.0 times -1.2 pt I debt to EBITDA* <Main reasons for changes compared to FY2021> Investment Net interest-bearing debt Increased due to the completion of Building E at the Osaka Prefectural Food Products Distribution Center, etc. Decreased due to reduction in borrowings by income recognition, etc. <Main reasons for changes compared to forecasts announced in October 2022> Investment Decreased due to rescheduled investments, etc. Net interest-bearing debt Decreased due to rescheduled investments, increased income, etc. * Operating income + Dividend income + Depreciation and amortization NANKAI#6Status of segment composition (as of March 31, 2023) [Consolidated subsidiaries: 54, non-consolidated subsidiaries: 17, non-equity method affiliates: 6] Change (from March 31, 2022) Increase in consolidated subsidiaries, 3 companies (company spin-off) Nankai System Solutions Co., Ltd. 5 (newly established) Nankai REIT Management Co., Ltd., eStadium Co., Ltd. Decrease in consolidated subsidiaries, 3 companies (intra-group merger) Nankai Wing Bus Kanaoka Co., Ltd., Life Community Co., Ltd. (stock transfer) Nankai Printing Co., Ltd. Increase in non-consolidated subsidiaries, 1 company: (newly established) Nankai Global Forwarding (Asia) Co., Limited Transportation (35 companies) Real Estate (6 companies) Distribution (9 companies) Leisure and Services (20 companies) Construction (4 companies) Other (8 companies) * Nankai Electric Railway Co., Ltd. (the Company) is included in duplicate in the Transportation, Real Estate, Distribution, and Leisure and Services segments. SEMBOKU RAPID RAILWAY CO., LTD. is included in duplicate in the Transportation and Real Estate segments. [ Operating revenue ] 38.2% (Billions of yen) 95.5 17.8% 44.6 17.5% 15.9% 43.6 39.8 9.4% 23.6 [ Operating income ] (Billions of yen) 12.5 3.5 1.2% 2.9 1.1 1.7 1.8 0.1 ■Transportation Real Estate Distribution Leisure and Construction Other Services ■Transportation Real Estate Distribution Leisure and Construction Other Services Percentage share: Ratio to operating revenue, including that from intersegment transactions NANKAI#7Segment operating revenue and operating income (compared to FY2021) 6 (Millions of yen) (i) Change of operating revenue (compared to FY2021) 5,540 310 221,280 1,610 -804 12,160 1,641 -971 201,793 FY2021 Transportation Real Estate Distribution Leisure and Construction Services Other Adjustment FY2022 (ii) Change of operating income (compared to FY2021) 12,190 565 8,534 94 21,023 -7 -283 -69 -0 FY2021 Transportation Real Estate Distribution Leisure and Construction Services Other Adjustment FY2022 NANKAI#8Segment operating revenue and operating income (compared to FY2021) Transportation 7 (Millions of yen) Operating revenue Operating income FY2022 FY2021 Percentage FY2022 Change results results change results FY2021 results Change Percentage change 95,532 83,371 12,160 14.6% 1,152 -7,382 8,534 Real Estate 44,627 45,598 -971 -2.1% 12,570 12,577 -7 -0.1% Distribution 23,607 21,965 1,641 7.5% 1,710 1,144 565 49.4% Leisure and 39,851 38,241 1,610 4.2% 3,550 3,834 -283 -7.4% Services Construction 43,662 38,121 5,540 14.5% 1,889 1,959 -69 -3.6% Other 2,963 2,653 310 11.7% 175 176 -0 -0.5% Adjustment -28,964 -28,159 -25 -120 I Total 221,280 201,793 19,487 9.7% 21,023 12,190 8,833 72.5% NANKAI#9Segment operating revenue and operating income (compared to forecasts announced in October 2022) 8 (Millions of yen) (i) Change of operating revenue (compared to forecasts announced in October 2022) 227,300 27 207 151 -1,267 63 80 221,280 -4,037 -1,164 FY2022 forecasts announced in October Transportation Real Estate Distribution Leisure and Construction Services Other Adjustment FY2022 (ii) Change of operating income (compared to forecasts announced in October 2022) 750 910 75 74 21,023 1,470 952 -210 17,000 FY2022 forecasts announced in October NANKAI Transportation Real Estate Distribution Leisure and Construction Services Other Adjustment FY2022#10Segment operating revenue and operating income (compared to forecasts announced in October 2022) 9 (Millions of yen) Operating revenue Operating income FY2022 FY2022 FY2022 forecasts Change results (Announced October 2022) Percentage FY2022 change Percentage results forecasts (Announced October 2022) Change change Transportation 95,532 96,800 -1,267 -1.3% 1,152 200 952 476.1% Real Estate 44,627 44,600 27 0.1% 12,570 11,100 1,470 13.2% Distribution 23,607 23,400 207 0.9% 1,710 800 910 113.8% Leisure and 39,851 39,700 151 0.4% 3,550 2,800 750 26.8% Services Construction 43,662 47,700 -4,037 -8.5% 1,889 2,100 -210 -10.0% Other 2,963 2,900 63 2.2% 175 100 75 75.8% Adjustment -28,964 -27,800 -25 -100 I Total 221,280 227,300 -6,019 -2.6% 21,023 17,000 4,023 23.7% NANKAI#11Segment information (Transportation) 10 Transportation FY2022 results FY2021 Change results (Millions of yen) Percentage change Operating revenue Railway business 95,532 83,371 12,160 14.6% 56,393 48,078 8,315 17.3% Bus business 20,262 17,513 2,748 15.7% Other transportation 25,757 24,077 1,680 7.0% businesses Adjustment (intrasegment) -6,881 -6,297 Operating income 1,152 -7,382 8,534 Main components Railway business 1,034 -5,545 6,580 Bus business 172 -1,614 1,787 <Main reasons for changes> •Revenue grew and profitability improved due to an increase in the number of passengers carried compared to the previous fiscal year in the railway and bus businesses, as well as due to the impact from a rise in cargo transportation rates in the cargo transportation business in the first half of FY2022. NANKAI#1211 (Millions of yen, thousands of passengers) Revenue from railway passengers and passengers carried (non-consolidated) FY2022 FY2021 All lines Change results results Percentage change Non-commuter passes 27,486 20,538 6,948 33.8% Commuter passes 18,971 18,495 475 2.6% Total 46,457 39,033 7,424 19.0% Non-commuter passes 82,077 65,964 16,113 24.4% Commuter passes 121,694 116,887 4,807 4.1% Total 203,771 182,851 20,920 11.4% Passenger Passengers revenue carried FY2022 Airport line results FY2021 results Change Percentage change Non-commuter passes 4,953 2,203 2,749 124.8% Commuter passes 889 780 109 14.0% Total 5,843 2,984 2,859 95.8% Non-commuter passes 6,494 3,194 3,300 103.3% Commuter passes 3,020 2,631 389 14.8% Total 9,514 5,825 3,689 63.3% Passenger Passengers revenue carried NANKAI#1312 (%) 0.0 -20.0 -30.0 -38.1 -40.0 -50.0 50.4 -51.2 -60.0 -60.7 -70.0 2021.4 2021.5 2021.6 2021.7 2021.8 2021.9 2021.10 2021.11 2021.12 2022.1 2022.2 State of emergency declaration issued 2021.4.25 ~6.20 2021.8.2 ~9.30 Although the Accounting Standard for Revenue Recognition and other standards have been applied since April 2021, the percentage change is calculated based on the simple comparison without adjusting the amount affected. NANKAI -42.7 -48.1 2022.3 consumption tax rate in September 2019 Reaction to the early purchase of commuter passes, etc. due to the raising of the 2022.4 2022.5 2022.6 2022.7 -7.8 -8.9 -9.3 -10.0 -15.7 -16.3 -17.0 -17.5 -19.7 -18.9 -20.7 -13.2 -16.9 -16.3 -15.5 -14.0 -15.0 -16.1 -14.8 -16.0 11.3 -12.8 -16.5 -17.0 -17.8 17.8-19.3 -15.8 -17.7 -14.8 -17.8 -23.8 -26.4 -27.3 29.9 -22.2 -28.2 -26.0 -26.4 -26.3 -27.9 -19.7 -18.6 -18.8 -19.6 -20.8 -21.3 -29.0 -32.1 -31.4 -32.9 -31.4 -38.3 -37.9 -38.8 -45.1 -41.9 -49.8 -49.8 -41.7 -32.7 -33.4 -32.1 -32.4 -32.7 -34.0 -33.8/ -35.2 -36.1 -38.9 Segment information (Transportation) [Reference 1] (Individual - all lines) Changes in the rate of increase/decrease in railway passenger revenue compared to the same month of 2019 Non-commuter passes Commuter passes Total 2022.8 2022.9 2022.10 2022.11 2022.12 2023.1 2023.2 2023.3 2023.4 (Preliminary Report)#14Segment information (Transportation) [Reference 2] (Individual - airport line) Changes in the rate of increase/decrease in railway passenger revenue compared to the same month of 2019 (%) 0.0 -10.0 Non-commuter passes Commuter passes Total 13 -20.0 -30.0 Reaction to the early purchase of commuter passes, etc. due to the raising of the consumption tax rate in September 2019 -40.0 -48.8 -50.0 -50.0 -53.1 -51.6 -49.7 56.8 -44.4 -47.3 -46.3 -49.1 -46.2 -46.3 -46.6 -46.3 -44.9 -48.9 -60.0 -63.2 -62.0 -68.3 -68.0 -67.6 -66.0 -66.0 -70.0 -75.7 -80.6-79.7 -80.0 -80.2 -85.3 -84.1 -90.0 2021.4 2021.5 2021.4.25 ~6.20 2021.6 2021.7 2021.8 2021.9 2021.10 -69.2 -73.5 72.2 -73.5 -72.3 -75.0 -66.0 -64.9 -72.0 -71.2 -69.3 -69.0 -70.9 -72.3 -77.4 -76.0 -76.8 -76.3 -79.0 State of emergency declaration issued 2021.8.2 ~9.30 Although the Accounting Standard for Revenue Recognition and other standards have been applied since April 2021, the percentage change is calculated based on the simple comparison without adjusting the amount affected. NANKAI 2021.11 2021.12 2022.1 2022.2 2022.3 2022.4 2022.5 2022.6 2022.7 2022.8 2022.9 2022.10 2022.11 2022.12 > 2023.1 2023.2 2023.3 2023.4 (Preliminary Report) -18.3 -21.5 -23.6 -28.1 -22.1 -29.7 -20.7 -24.4 -35.8 --28.8 --25.7 -30.8 -29.9 -42.6 -36.8 -34.1 -45.5 -35.9 -37.7 -48.5 -42.6 -52.9 -49.5 -60.5 -60.1 -63.0 -61.5/#15Segment information (Real Estate) 14 FY2022 FY2021 Real Estate Change results results (Millions of yen) Percentage change Operating revenue 44,627 45,598 -971 -2.1% Real estate leasing business 33,968 32,531 1,437 4.4% Real estate sales business 10,943 13,477 -2,533 -18.8% Adjustment (intrasegment) -284 -409 - - Operating income 12,570 12,577 -7 -0.1% Main components Real estate leasing business 12,049 11,625 424 3.7% Real estate sales business 699 1,115 -416 -37.3% <Main reasons for changes> •The real estate leasing business saw both revenue and income rise mainly due to an increase in hotel rental revenue resulting from the easing of border restrictions. •The real estate sales business saw both revenue and income fell for reasons such as a decrease in condominium sales. NANKAI#16Segment information (Distribution) 15 FY2022 FY2021 Distribution Change results results (Millions of yen) Percentage change Operating revenue 23,607 21,965 1,641 7.5% Management of Shopping 13,981 12,260 1,721 14.0% Centers Station premises business 11,002 10,705 297 2.8% Other distribution businesses 386 609 -222 -36.5% Adjustment (intrasegment) -1,763 -1,608 Operating income 1,710 1,144 565 49.4% Main components Management of Shopping 1,009 581 428 73.8% Centers 833 618 215 34.8% Station premises business <Main reasons for changes> • In the management of shopping centers, both revenue and income grew for reasons such as the reaction to the temporary closure of commercial facilities due to the declaration of a state of emergency (such as Namba Parks and Namba City) in the previous fiscal year. NANKAI#17Segment information (Leisure and Services) 16 FY2022 FY2021 Leisure and Services Change results results (Millions of yen) Percentage change Operating revenue 39,851 38,241 1,610 4.2% Building management and 23,684 23,757 -72 -0.3% maintenance business Other leisure and service 18,266 16,356 1,910 11.7% businesses Adjustment (intrasegment) -2,099 -1,872 - - Operating income 3,550 3,834 -283 -7.4% Main components Building management and 1,020 1,353 -332 -24.6% maintenance business <Main reasons for changes> • In the building management and maintenance business, both revenue and income fell mainly due to a decrease in building maintenance operations. • In the other leisure and service businesses, both revenue and income grew mainly due to the reduced impact of COVID-19 in the travel agency business and the boat racing facility leasing business compared to the previous fiscal year. NANKAI#18Segment information (Construction and Other) 17 (Millions of yen) Percentage change FY2022 FY2021 Construction Change results results Operating revenue Construction Adjustment (intrasegment) Operating income 43,662 38,121 5,540 43,689 38,156 5,532 -26 -34 - 1,889 1,959 -69 14.5% 14.5% -3.6% <Main reasons for changes> Revenue increased mainly due to an increase in the amount of completed construction contracts, while income fell because of lower profit ratios and other factors. Other (Millions of yen) Percentage change Operating revenue Other Adjustment (intrasegment) Operating income FY2022 results FY2021 results Change 2,963 2,653 310 2,998 2,663 334 -34 -10 — 175 176 -0 <Main reasons for changes> Revenue increased due to an increase in revenue from systems and other factors. NANKAI 11.7% 12.6% -0.5%#19Non-operating income and expenses and extraordinary income and losses 18 FY2022 FY2021 Change (Millions of yen) Remarks results results Non-operating income 2,264 2,004 259 Interest income 25 24 1 Dividend income 1,003 786 216 Miscellaneous income 1,235 1,193 42 Non-operating expenses 4,322 4,263 59 Interest expenses 3,494 3,817 -322 Miscellaneous expenses 827 446 381 Extraordinary income 3,009 25,282 -22,272 Compensation for expropriation 805 805 Contribution received for construction 619 23,311 -22,691 Previous term: Continuous flyover roadway construction (up route) in Takaishi City, etc. Gain on sale of non-current assets 548 1 547 Cooperation money income 545 - Other 491 1,969 Extraordinary losses 2,600 27,028 545 -1,478 Previous term: Cooperation money for large facilities, etc. -24,427 Loss on retirement of non-current assets 994 658 335 Tax purpose reduction entry of 578 23,268 -22,690 contribution for construction Previous term: Continuous flyover roadway construction (up route) in Takaishi City, etc. Impairment losses 366 943 -576 Other 661 2,157 -1,496 Previous term: Fixed costs for temporary closure of commercial facilities, etc. NANKAI#20Status of assets, liabilities and net assets As of March 31,2023 As of March 31,2022 Change 19 (Millions of yen) Main reasons for changes ⚫Current assets Current assets 103,616 85,147 18,468 Increase in merchandise and finished goods mainly due to transfer from non-current assets +\10.2 billion Increase in other current assets mainly due to increase in accounts receivable +¥5.5 billion Non-current assets •Non-current assets 831,497 835,829 -4,332 Decrease in buildings and structures mainly due to depreciation -¥10.4 billion Decrease in land mainly due to transfer to merchandise and finished goods -¥4.3 billion Total assets 935,113 920,976 14,136 Increase in construction in progress +¥9.6 billion ⚫Liabilities Increase in other current liabilities mainly due to increase in advances received • Increase in deferred tax liabilities. +¥5.9 billion +\2.1 billion Total liabilities 660,526 660,260 266 【The balance of interest-bearing debt】 (Billions of yen) As of March 31,2023 As of March 31,2022 Change Interest-bearing debt 474.5 482.4 -7.9 Net assets 274,586 260,716 13,870 Net interest-bearing debt 436.1 446.0 -9.9 ●Net assets Total liabilities " 935,113 920,976 14,136 and net assets NANKAI Profit attributable to owners of parent Valuation difference on available-for-sale securities Dividend of surplus +\14.6 billion +\1.9 billion -¥2.8 billion#21Status of cash flows FY2022 results FY2021 results Change 20 (Millions of yen) Main reasons for changes Cash flows from operating activities 39,086 41,879 -2,793 Cash flows from operating activities Decrease (increase) in trade receivables -¥8.5 billion " Decrease (increase) in inventories " Profit before income taxes -¥5.9 billion +11.1 billion Cash flows from investing activities Cash flows from investing activities Purchase of non-current assets -¥9.7 billion -26,305 -19,669 -6,635 Purchase of investment securities +\1.6 billion " Proceeds from contribution received for construction +\1.1 billion •Cash flows from financing activities Cash flows from -11,341 -27,026 15,684 Increase (decrease) in interest-bearing debt financing activities +\15.9 billion O FY2022 Cash and cash equivalents at end 37,540 36,101 1,439 of period NANKAI Borrowings Bonds payable O FY2021 Borrowings -¥17.9 billion +¥9.9 billion -¥23.9 billion#22Investment and EBITDA by segment 21 (Millions of yen) Investment EBITDA *1 FY2022 FY2021 FY2022 FY2021 Change Change results results results results Transportation 13,781 11,811 1,969 16,469 8,482 7,987 Real Estate 11,006 6,553 4,452 20,433 20,471 -38 Distribution 1,711 1,430 280 5,650 5,440 210 Leisure and 1,300 1,557 -257 4,839 5,130 -290 Services Construction 69 47 21 2,013 2,096 -83 Other Adjustment Total NANKAI - 3 6 I 27,872 21,408 ာ -3 | 6,464 187 189 -2 *2 *2 51 -242 294 49,645 41,568 8,077 *1 Operating income + Dividend income + Depreciation and amortization *2 Adjustment for EBITDA is the sum of intersegment eliminations and dividend income.#23II. Business Forecasts for FY2023 22#24Performance highlights FY2023 forecasts FY2022 results Change 23 (Millions of yen) Main reasons for changes Operating revenue 253,900 221,280 32,619 Operating income 24,300 21,023 3,276 Ordinary income 21,400 18,965 2,434 •Operating revenue Revenue will increase mainly due to recovery of passenger demand in the transportation business, the railway fare revision, and recognition of income from property sales in the real estate business. Operating income Profit attributable to 18,200 14,623 3,576 owners of parent Income will increase due to improved profitability in the transportation business. Investment 52,300 27,872 24,427 Depreciation and 28,200 27,619 580 amortization EBITDA* 53,700 49,645 4,054 Interest-bearing debt 451,400 474,514 -23,114 Net interest-bearing debt 429,800 436,105 -6,305 ●Profit attributable to owners of parent Profit will increase mainly due to an increase in operating income and the recognition of gain on sales of non-current assets. •Investment Investment will increase due to manufacturing of new rolling stock, Naniwasuji Line-related investment, etc. •Interest-bearing debt Ratio of interest-bearing 8.4 times 9.6 times -1.2 pt debt to EBITDA* Ratio of net interest-bearing 8.0 times 8.8 times -0.8 pt Interest-bearing debt will decrease due to income from property sales in the real estate business and gradual use and withdrawal of cash and deposits. debt to EBITDA* NANKAI * Operating income + Dividend income + Depreciation and amortization#25Segment operating revenue and operating income 24 (Millions of yen) Transportation FY2023 forecasts FY2022 results Change Operating 108,400 95,532 revenue Main reasons for changes Railway business +¥8.0 billion (Nankai Electric Railway fare revision effect +¥\1.9 billion) 12,867 Airport line revenue +¥3.2 billion Bus business +¥2.3 billion Cargo transportation business +¥2.1 billion Operating income 5,900 1,152 4,747 • Railway business +\3.7 billion Bus business +\0.7 billion • 8,172 Real estate sales business +\8.0 billion Operating 52,800 44,627 revenue Real Estate Operating 11,800 12,570 -770 income Real estate leasing business -¥1.8 billion ⚫ Real estate sales business +\1.1 billion Operating 25,200 23,607 1,592 revenue •Station premises business +\1.0 billion -Management of Shopping Centers +\0.7 billion Distribution Operating income 1,600 1,710 -110 Management of Shopping Centers -¥0.3 billion NANKAI#26Segment operating revenue and operating income 25 (Millions of yen) FY2023 forecasts FY2022 results Change Main reasons for changes Building management and maintenance Operating business +¥1.8 billion 43,400 39,851 3,548 revenue Other leisure and services business +\1.9 billion Leisure and Services (Travel agency business, etc.) Building management and maintenance Operating income business ¥0.1 billion 2,600 3,550 -950 Other leisure and services business -¥0.8 billion (Travel agency business, etc.) Operating 48,400 43,662 4,737 revenue Increase in the amount of completed construction contracts Construction Operating 2,300 1,889 410 Improvement due to higher revenue income Operating 3,100 2,963 136 revenue Other Operating 100 175 -75 income Operating -27,400 -28,964 - revenue Adjustment Operating -0 -25 income Operating 253,900 221,280 32,619 revenue Total Operating income 24,300 21,023 3,276 NANKAI#27Investment and EBITDA by segment 26 (Millions of yen) EBITDA *1 Investment FY2023 forecasts FY2022 results Change Forecast amounts Main details FY2023 FY2022 Change forecasts results Transportation 30,100 13,781 16,318 <Investments to expand profits 21,700 16,469 5,230 ¥14.5 billion> •Namba area peripheral zone Real Estate 14,400 11,006 3,393 development ¥7.1 billion 19,700 20,433 -733 <Safety and refurbishment investments Distribution 5,300 1,711 3,588 5,700 ¥32.4 billion> 5,650 49 Railway-related construction work Leisure and ¥17.3 billion 3,400 1,300 2,099 Services Rolling stock manufacturing, bridge reinforcement, etc. 3,900 4,839 -939 Construction 100 69 30 • Real estate and distribution facility 2,400 2,013 386 construction ¥7.2 billion Other 187 -87 0 3 -3 100 <Future exploration investment ¥6.4 billion> • New Businesses ¥1.0 billion e-sports business, etc. *2 *2 200 51 Adjustment -1,000 Total 52,300 27,872 24,427 53,700 49,645 4,054 *1 Operating income + Dividend income + Depreciation and amortization NANKAI *2 Adjustment for EBITDA is the sum of intersegment eliminations and dividend income.#28• Transportation: Revenue from railway passengers and passengers carried (non-consolidated) [Nankai Electric Railway lines: Assumptions for business forecasts] 27 The impact of the revenue decline due to the COVID-19 pandemic is expected to be reduced from the previous fiscal year, but given the changing lifestyles and the fact that inbound passengers have not fully returned, passenger revenue is expected to remain at -20% for the airport line (non-commuter passes) and -10% for existing lines (non-commuter passes) of the pre-pandemic levels (average-year basis). The effect of the fare revision (October 2023) of 1.9 billion yen is separately factored in. (Millions of yen, thousands of passengers) All lines FY2023 forecasts YoY percentage FY2022 results change YOY percentage change FY2021 results YOY percentage change Non-commuter passes 34,032 23.8% 27,486 33.8% 20,538 10.8% Commuter passes 20,462 7.9% 18,971 2.6% 18,495 -0.3% Total 54,495 17.3% 46,457 19.0% 39,033 5.2% Non-commuter passes 92,585 12.8% 82,077 24.4% 65,964 8.7% Commuter passes 124,712 2.5% 121,694 4.1% 116,887 -0.5% Total 217,297 6.6% 203,771 11.4% 182,851 2.6% YoY YOY FY2023 FY2022 Airport line percentage percentage forecasts results FY2021 results YoY percentage change change change Non-commuter passes 7,862 58.7% 4,953 124.8% 2,203 30.7% Commuter passes 1,267 42.4% 889 14.0% 780 -6.9% Total 9,130 56.2% 5,843 95.8% 2,984 18.2% Non-commuter passes 9,708 49.5% 6,494 103.3% 3,194 24.1% Commuter passes 3,430 13.6% 3,020 14.8% 2,631 2.4% Total 13,138 38.1% 9,514 63.3% 5,825 13.2% Passenger revenue carried Passengers Passenger Passengers revenue carried NANKAI#29Shareholder Returns • Secure stable dividend resources by working to further improve earnings while striving to ensure a stable management foundation and strengthen the financial position over the long term. • Continue to pay stable dividends by comprehensively considering the business environment, performance trends, capital investments, investment opportunities, and other factors. Annual dividend 【Diviends paid (\/%)】 28 Interim dividend: Not paid Year-end dividend: ¥25 30 Includes a commemorative dividend Dividend payout ratio (consolidated) 32.5 30 30 30 30 27.0 26.1 23.1 20.7 18.4 17.7 FY2014 FY2015 FY2016 FY2017 FY2018 70.4 25 25 25 25 Forecast 19.4 15.6 FY2019 The dividend payout ratio is not shown due to net loss FY2020 FY2021 FY2022 FY2023 * The Company implemented a 1 for 5 reverse stock split with an effective date of October 1, 2017. Annual dividends for fiscal 2017 and prior fiscal years have been restated to conform with the basis after the stock consolidation. NANKAI#30III. New Management Structure 29#31Policies of the New Management Structure 30 • • Transportation and real estate businesses are the main profit-making businesses. For the transportation business, there are concerns that the current business model will taper off as the population declines. • The need to develop a third business is urgent. Major issues Integrate transportation-related divisions and group companies Merge the Real Estate Division and Community Development and Creation Division Strengthen the system toward future exploration Delegate Establish segment management structure/ ☑ authority and responsibilities, clarify = Evolve into a comprehensive mobility business Promote community development in an integrated manner Fostering the third pillar Enhanced management speed Improved effectiveness of strategies Strategies to resolve the issues NANKAI#32Policies of the New Management Structure 1. Transition to Segment Management Purpose Develop and execute strategies by segment including our group companies Clarify management responsibilities and maximize profits at the segment level 2. Delegation of authority and clarification of responsibilities Delegate authority for both qualitative (concept/process) and quantitative (value) aspects to head of each group Create new value Toward sustainable management || Realize speedy decision-making that is sensitive to modern changes Foster next generation of management staff NANKAI 31#33(Reference) Business Execution Structure Chairman and CEO President and COO Public Transportation Group Community Development Group Corporate Financial Strategy Group Strategy Group General Administration & Human Resource Group Head of the Group Head of the Group Head of the Group Head of the Group Head of the Group Develop comprehensive mobility business Promote Future exploration Promote Promote human community financial resource development Promote management strategies strategies strategies NANKAI 32#34IV. Progress of the Medium-term Management Plan "Kyoso 140 Plan" 33#35Recognition of the business environment Socioeconomic activities normalize as COVID-19 is reclassified to a Class 5 disease. Expect another earnings recovery resulting from an increase in domestic and international travelers. <Recovery of passenger demand> (Unit: thousands of people) 50,000 Nankai Electric Railway lines (Non-commuter passes) (Unit: Nankai Electric Railway lines (Non-commuter passes) thousands Airport line Passengers carried (Unit: All lines Passengers carried of people) flights) 5,000 4,819 700 47,191 4,264 45,000 43,746 4,000 500 | Scheduled passenger flights (international flights) at Kansai International Airport Number of flights per week* 658 553 40,000 38,331 35,000 30,000 3,000 2,230 300 2,000 222 First half Second half of FY2022 of FY2022 (Result) (Result) First half 1,000 First half of FY2023 (Forecast) of FY2022 (Result) Second half of FY2022 (Result) 100 First half of FY2023 (Forecast) October 16 to October 22, 2022 March 5 to September March 11, 2023 2023 (Expected) * Scheduled passenger flights (international flights) at Kansai International Airport: Kansai Airports news release processed by the Company Take strategic actions with a sense of urgency and accurately comprehend the substantial recovery trend NANKAI 34#36Fundamental policies Management strategies Positioning of the New Medium-term Management Plan: "Kyoso 140 Plan" Period for "restructuring” and “building the foundation for growth” through the COVID-19 pandemic 1. 2. 3. • The Spirit of Nankai's collaborative creation ("Kyoso") with all stakeholders remains unchanged Make steady strategic investments in core businesses for the opening of the Naniwasuji Line Build the foundation for future growth in three years Accelerate investments in safety and updating to completion over three years Accelerate the implementation of the two business strategies in the Nankai Group Management Vision 2027 Secure sufficient levels of investment to nurture the buds of new businesses 2050 35 Nankai's future (Corporate image) Opening of the Naniwasuji Line 1. Sustainable management of public transportation business 2. Develop the most popular areas along railway lines and deepen and 3. expand our real estate business Initiatives for the future (future exploration) 4. Promote human resources/financial strategies supporting the above Develop the most popular areas along railway lines and become the most preferred corporate group by delivering satisfaction and delight to customers Nankai Group Management Vision 2027 Shinten 133 Plan (FY2015-2017) NANKAI Kyoso 136 Plan (FY2018-2020) FY2021 Management Plan Kyoso 140 Plan (FY2022-2024) Next Medium-term Management Plan (after FY2025)#37Kyoso 140 Plan: Major business strategies 1.Sustainable management of public transportation business [Investment:¥52.0 billion] • Systematic promotion of safety measures and disaster countermeasures • • . Utilization of digital technologies: Establishment of new technologies and frameworks and enhancement of preventive maintenance Enhancement of profitability and improvement of brand services New services-Evolving into a comprehensive mobility business 2. Develop the most popular areas along railway lines and deepen and expand our real estate business • Community development through Kyoso (collaborative creation) [Investment:¥93.0 billion] Acceleration of the Greater Namba concept-transforming Namba into a location that is famous across Asia Sustainable development of Semboku New Town • Functionality enhancement of logistics facilities Establishment of private REIT 3. Future exploration [Investment: \15.0 billion] • NANKA . DX strategy: Establishing digital customer contact points and creating new value Acceleration of initiatives for new businesses • Coexistence with foreigners • • Enhancement of tourism-related businesses Provision of new services in the new normal era NANKAI 36#38Kyoso 140 Plan: Progress of each business strategy (1) Sustainable management of public transportation business 1 Strategic actions Systematic promotion of safety measures and disaster countermeasures 2 Utilization of digital technologies FY2022 → Specific initiatives to date: Refer to pp. 57-61. FY2023 FY2024 Continuous flyover roadway constructions (in Takaishi and Sakai cities)/Installation of security cameras inside train cars/Slope disaster prevention measures in mountainous sections Seismic reinforcement work for overpasses, station facilities, etc./Advancing barrier-free conversion work, etc. [Measures implemented in FY2022] Trial installation of train car side view cameras (from June 2022) • Trial installation of security cameras inside train cars (from October 2022) • Introduction of the bridge abnormality detection system for the Yamatogawa Bridge of the Koya Line (from January 2023) Development and execution of investment plans considering TCFD Installation of platform gates for Nakamozu Station Line 4 (scheduled for April 2024) Consideration of increasing one-man operated trains (FY2024 target: Expansion to some sections of the Nankai Line) Preparation for testing for autonomous operation • Develop infrastructure Study and evaluate safety of system Testing using test run trains → Review and evaluation by a third-party committee Establishment of Station General Information Centers 3 Enhancement of profitability and improvement of brand services 4 New services (scheduled to be implemented by the end of FY2023) Renewal of train cars/Remodeling of station facilities and restrooms/Promotion of upcoming Osaka, Kansai EXPO 2025 [Nakamozu Station renewal] Relocate ticket gates (September 2022) Reorganize commercial zone/Beautify station interiors and exteriors (scheduled for December 2023) Testing for Visa touch payment system (-December 2022) (1) Continuation of touch payment service. Promote measures to improve convenience, such as increasing the number of usable card brands and expanding the number of stations where cards can be used (2) Continued provision of QR code Digital Tickets and strengthening cooperation with other companies • Application for fare revision (October 2022) Fare revision (from October 2023) • Approval of fare revision (February 2023) Examination of land, sea, and air transportation systems/Promotion of MaaS initiatives Testing of flying cars with Marubeni Corporation and three other companies (December 2022-January 2023) Testing of On-demand Bus at Semboku area (January 2023 March 2023) Release of Kansai MaaS App Ver. 1 (tentative name) (scheduled for summer 2023) Promotion of comprehensive mobility business * QR Code: Registered trademark of DENSO WAVE INCORPORATED NANKAI 37#39(Reference) Sustainable management of public transportation 38 business Evolving into a comprehensive mobility business Provide a variety of services, including last-one-mile means of movement by transforming bus business operations Resolve rural social issues and enable sustainable growth of rural areas 45 72 Establishment of a regional vitalization model Restructuring of bus business operators • Green slow mobility Self mobility 50 WB NANKA 107 Public transportation business Last-one-mile business collaborative creation with local governments Pilot implementation as a regional vitalization model along our railway lines Collaborating with communities, devise the ideal way of local public transportation by taking advantage of the transportation characteristics of each transportation mode, such as rail and bus. NANKAI#40Kyoso 140 Plan: Progress of each business strategy (2) Develop the most popular areas along railway lines and deepen and expand our real estate business 1 Strategic actions Community development through Kyoso (collaborative creation) 2 Acceleration of the Greater Namba concept 3 Sustainable community development of Semboku New Town 4 Functionality enhancement of logistics facilities 5 Establishment of private REIT NANKAI FY2022 Specific initiatives to date: Refer to pp. 57-61. FY2023 FY2024 Implementation of regional vitalization measures (projects for increasing value along railway lines)/Addressing issues in areas along our railway lines/Area branding [Key challenges and measures] • Child rearing/education: "Smile to Family +1" project (build a town where the child-rearing generation can enjoy child rearing) • Industry revitalization/startup support: "Support for Recruitment, Open Factory, and Innovation" (increase and communicate attractions of enterprises along our railway lines) • Promotion of agriculture: "NANKAI FARMERS' MARKET" (branding products produced in areas along our railway lines and expanding new sales channels) • Renovation town development: "Renovation School @ Kada Line" (create new town contents) Nambanaka 2-chome Development Project Construction, leasing, preparation for opening Namba Parks South March 2023 Partial opening July 2023 Grand opening Namba Station Front Plaza Development (Commencement of operations is scheduled for fall 2023 ahead of the grand opening) Ebisu-cho Land Development Project (Construction of shared-style corporate dormitories) Acquisition of properties, development of owned properties, renewal of existing properties Izumigaoka Station-Front Vitalization Project Partial demolition of existing property (scheduled by July 2023) Promotion of Semboku New Town Smart City Strategy Establishment of SEMBOKU Smart City Consortium (June 2022) Number of members in FY2022: 139 organizations Number of projects initiated by the consortium: 11 Building E functionality enhancement work Development of the area from Namba Station Front Plaza to Nansan Nanboku Dori (scheduled to complete at the end of FY2024) Southern Crest Namba Minami Scheduled to open fall 2023 Izumigaoka Station-Front Vitalization Project New construction (scheduled to start operation in October 2025) We plan to focus on the smart town segment from FY2023 in addition to the mobility and healthcare segment. Establishment of AM company (October 2022) Building E opening (April 2023) Phase II Building functionality enhancement construction (to be completed by the end of FY2025) Proceed with necessary approval and license procedures and establish an investment corporation to start operation as early as possible 39#41Kyoso 140 Plan: Progress of each business strategy (3) Future exploration Strategic actions 1 DX strategy FY2022 → Specific initiatives to date: Refer to pp. 57-61. FY2023 FY2024 Improving the ease of living by expanding digital customer contact points/Building a portal site that connects local people and a variety of services "Pikureru" a service that allows customers to pick up meals at the station Testing (SkyO worker: July 2022) Start of new minapita point service (from March 2023)/Expansion of service under consideration (Semboku Rapid Railway Izumi-chuo station: February to March 2023) 2 Acceleration of initiatives for new businesses 3 Coexistence with foreigners 4 Enhancement of tourism- related businesses 5 Provision of new services in the new normal era Full-scale entry into e-sports business → Establish a position in the e-sports industry in Kansai and early generation of profits • Established eStadium Co., Ltd., and started e-sports business (June 2022) [Entrusted by the government] [Facility management] [Event] Nankai's proposal for "e-Sports MICE Testing Project" was adopted by Izumisano City. Opening of e-Stadium Izumi, e-Stadium Izumisano, and e- Stadium Gifu Held e-sports camp, appointed as a Kansai special partner of an official VALORANT tournament Fly Beyond, a new business development program - "beyond the Border," a business creation support program ⚫ Phase 1: Three businesses incorporated. Chosen for the Business Expense Subsidies to Support the Creation of New Businesses by Large Companies' Human Resources (temporary-secondment startup and other creation support businesses) program of the Ministry of Economy, Trade and Industry (METI) for the second consecutive year. Phase 2: Two projects are under consideration for commercialization. ⚫ Phase 3: Recruitment of external human resources following the adoption of the Experimental Project for the Utilization of Entrepreneur in Residence (EIR) led by the METI Promoting sustainable community development with foreigners from both social and physical aspects <Physical aspect> Attract a student dormitory into a Nankai-owned facility in Shin-Imamiya. <Social aspect> Full-scale commercialization of Japal, an overseas IT human resources placement service (from November 2022) Business partnerships between industry, academia, and financial institutions (from January 2023) Enhancement of tourism content/Promotion of attraction of passengers by implementing effective PR/Creating travel products/Developing new monetization methods Start offering high value-added travel products (from July 2022) ⚫ Launched NK PEDAL, a shared mobility service (August 2022~) Deepen tourism strategy and consider commercialization Create new lifestyle services/expand business of "Lieffice," a shared office [Measures implemented in FY2022] • Testing of a service that automatically displays subtitles for conversations, a first for a railway company in the Kansai region Testing of a multilingual interactive Al robot We will continue to consider providing a variety of services that meets the needs of our customers and residents living in areas along our railway lines, based on the concept of services that make life convenient. NANKAI 40#42Topic 1 Progress of the Greater Namba concept NANKAI 41#43Greater Namba concept: Namba area wide area MAP (1) Namba Parks South NANKAI BUIGI Projects under development/planning Properties owned/managed by the Company Nankai Namba Station Nippombashi Station A (2) Namba Station Front Plaza 60m HT OSAKA 2025 do 42#44Greater Namba concept: Nambanaka 2-chome Development Project Opened a new section, Namba Parks South in the Nambanaka 2-chome Development Project area We will establish a new hub for tourism and business in order to further enhance the attractiveness of the Namba area NAMBA PaRKS SOUTH Centara Grand Hotel Osaka Parks South Square Hotel Keihan Namba Grande Site A Site B Site C Offices, stores, parking Uses Hotel, stores Hotel, stores lot Site area 2,005 m² 43 Parks South Square Centara Grand Hotel Osaka Total floor area Structure/Num ber of floors Date of opening 4,404 m² 38,128 m² SRC construction, 34 floors above ground July 1, 2023 Nankai involved in: Subleasing (land subleasing) Namba Grande Hotel Keihan 2,506 m² 19,683 m² S construction, 14 floors above ground July 1, 2023 • Investment in the SPC Commissioned development work Subleasing (land subleasing) 9,377 m² S construction, 9 floors above ground March 25, 2023 • Building construction . Leasing to hotel operators (joint business) Pedestrian deck maintenance Opening of the global flagship store of Kura Sushi Provided by Taisei Corporation Provided by Taisei Corporation NANKAI くら URA KURA REVOLVING SUSHI BAR NAMBA Provided by Kura Sushi, Inc.#4544 Greater Namba concept: Namba Station Front Plaza Making the area around Namba Station a people-centered space, with advanced opening of the plaza scheduled in the fall of 2023 Creating a high-quality, comfortable, safe and secure space as a tourist hub that attracts tourists from around the world Construction work is in progress to develop a pedestrian space by prohibiting vehicles from passing through Namba Station Front Plaza to Nansan Avenue. [Current picture: Taken in April 2023] Entertainment city Kyoso area Shin-Namba terminal Kyoso area New station life & stay Kyoso area Greater Namba wide area map Shin-Imamiya diversity Kyoso area NANKAI Midosuji Namba MARUI Namba Station Front Plaza Nansan Avenue Nankai Namba Station, Takashimaya [Completed example] Bird's-eye perspective. OSAKA 2025 FFEE SB 新生銀行 Nighttime view Olo NAMBA MARL Provided by Namba Safe, Secure, and Prosperous Community Development Council#46Greater Namba concept: Formulation of the Greater Namba vision Formulated as a group-lead declaration of community development Creating the next generation of Namba that continues to attract people through collaborative creation ("Kyoso") with diverse stakeholders and creation of attractiveness of the town Clarification of our stance on community development Our vision of Greater Namba 2050 that we declare to society ENTAME-DIVER-CITY -Meet! Eat! Beat! On NAMBA- NEO NAMBA Community development policy 1 Deepen existing resources in the Namba area, including railroads, offices, and shopping centers 2 Real estate development and public space utilization with the new station area as the hub 3 Accumulation and training of human resources that will play a key role in the creation of liveliness and development of contents Expected effects consumption opportunity NANKAI EBISUBASHI 45 Image of ENTAME-DIVER-CITY Number of visitors to the Frequency Time to stay of visits street#47Topic 2 Deepen and expand our real estate business NANKAI 46#48Functionality enhancement of logistics facilities: Osaka Prefectural Food Products Distribution Center, Building E Steadily strengthen stable earnings and stabilize business portfolio with the opening of Building E Osaka Prefectural Food Products Distribution Center, Building E Uses Total floor area Structure/Number of floors Environmentally friendly equipment Equipment based on Business Continuity Plan (BCP) Tenants Completion of construction Investment Distribution centers and truck terminals 49,975 m² 7 floors above ground (4th floor for warehouse, 7th floor for office) Rooftop solar power generation equipment, LED lighting, exterior sandwich panels Installation of emergency power generator (for 3 days) NX Transport K.K Meitetsu Transportation Co., Ltd Higashi Twenty One Co., Ltd. March 2023 ¥7.3 billion [Kita-Osaka Logistics Center] [Osaka Prefectural Food Products Distribution Center] * Obtained DBJ Green Building certification on December 12, 2022 as a building with very high environmental and social considerations (Plan certification: 3 stars) Processed food wholesaling space, new Building A NANKAI Phase IV building Phase II Building Building No. 1 47#49Functionality enhancement of logistics facilities: Kita Osaka Truck Terminal, Phase II Building Implementation of the functionality enhancement plan for the Phase II building, the largest building in the facility Seismic isolation structure enhances the effectiveness of BCP and meets the needs of a wide range of tenants Kita Osaka Truck Terminal, Phase II Building Uses Site area Total floor area Structure/Numb er of floors Project cost Completion of construction Distribution centers and truck terminals 56,579 m² Phase II Building (perspective) 193,642 m² Seismic isolation structure, double rampway method 6 floors above ground Approx. 35.0 billion yen (planned) March 2026 (scheduled) Overall schedule for functionality enhancement of logistics facilities FY2018 FY2019 FY2020 FY2021 Building No. 1 Processed food wholesaling space, new Building A Demoli- tion FY2022 FY2023 Reloca- FY2024 * Current plan FY2025 ☐ Investment amount: 6.8 billion yen Total floor area: 49,980 m² NANKAI ☐ Investment amount: 5.3 billion yen Total floor area: 20,480 m² Building E □ Investment amount: 7.3 billion yen Total floor area: 49,975 m² tion Removal Phase II Building ➤ Considering functionality enhancements to Phase III and IV buildings ➤ For the Higashi-Osaka Distribution Center, we are working on developing an overall plan. 48#50Sustainable community development of Semboku New Town: Izumigaoka Station-Front Vitalization Project Promote Izumigaoka Station-Front Vitalization Project as a pilot model for new town regeneration The project is currently underway with the aim of opening in October 2025. Izumigaoka Station-Front Vitalization Project Uses Site area Total floor area Structure/Num ber of floors Date of opening Izumigaoka Station Function of commercial, financial services, offices, medical facilities, plazas, etc. Approx. 7,000 m² Approx. 16,000 m² Steel frame construction 4 floors above ground, 1 below ground October 2025 (scheduled) Relocation site for the Faculty of Medicine, Kindai University, and an affiliated hospital Planned site (scheduled for November 2025) Concept 49 Suburban style mixed use that can provide medical care, jobs, and enrichment Priority measures (1) Create an environmental space where PARK (plaza) is the main feature (2) Create "walkable" spaces (3) Create opportunities unique to Izumigaoka Example view Parking Building No. 5 Parking Building No. 4 Parking Building No. 3 Izumigaoka HIROBA Shops & Restaurants NANKAI PANJO#51Sustainable community development of Semboku New Town: Semboku NT Smart City Concept We established the SEMBOKU Smart City Consortium in cooperation with Sakai City and other public organizations to steadily promote Smart City Strategies. * The Consortium was established in June 2022. ➤In FY2022, 11 projects were conducted in five working groups. • • Of these, we take the lead in three working groups: mobility, healthcare, and smart town. Mobility Energy Health care Smart town Data linkage NANKAI on-demand bus testing project Period of operation: January 10 - March 10, 2023 Service area: Momoyamadai, Kamotanidai, Komyoike Station, Toga-Mikita Station, Izumigaoka Station 予約で車両を呼び出し、 乗り合いで行きたい停留所まで! 地域乗り合いサービス 2023年1月10日)~3月10日 NANKAI オンデマンドバス ~桃山台,鴨谷台~ [チョゴソコ 50 Enhance the unique attractiveness of the Semboku New Town area through the use of ICT, and realize sustainable development and the transformation of the area into a smart city that introduces new technologies and mechanisms appropriate for modern times Health-Smart Semboku testing project •In the testing to date, the operability, usability, and business feasibility have been verified in three phases. → Obtained favorable results for name recognition and satisfaction • In FY2023, we will conduct testing to enable users to exchange their earned points for digital tickets (QR-code tickets). が曲がって 老けたと言われた 食べるを 減らしても痩せない! 運動会が ってしまった カラダのお悩み、スマホがサポート! 北ニュータウンの方におすすめ! 歩く参加するヘルスケアフリ へるすまーと泉北 S へるすまーと どんなアプリ? だけ es NANAL NANKAI 登鍋-利用無料 * QR Code: Registered trademark of DENSO WAVE INCORPORATED#52Sustainable Management Initiatives NANKAI 51#5352 Sustainability Policy and Major Sustainability Themes Sustainability Policy (established in April 2021) Basic concepts We will create collaboratively and cooperate with various stakeholders, including community residents, local governments and businesses, particularly in the areas along our railway lines. We will also seek both the increase of value as a sustainable company and the realization of a sustainable society by putting our Corporate Philosophy into practice. Major sustainability themes (materiality) Further seek safety, security, and satisfaction Thriving and friendly community development Create a future full of dreams SUSTAINABLE MER GLEAN MINER AHD SANITATION АЛ СЕМЬОНГЕС 13 CLINITE ACTION DECENT VACAK AND ECONONICON WITH SUSTAINABLE MES АНЬ СЕМЬОНЕИЗ RESPONSIBLE CONSULTTICH AND PRODUCTION 17 PARTNERSHIPS FIN THE IDALS DECENT WAKAND ECONOMIC GROWTH HA HOLSTRY, INNOVATION AND INFRASTRUCTURE 18 SUSTAINABLE MES АКО СЕМЬИНГИ PARTNERSHIPS FIN THE IDALS Achieve an enriched life NANKAI GOOD HEALTH QUALITY AND WELL BEING 4 EDUCANDI DECENT WORK AND CONOMIC GROWTH M SUSTAINABLE MES АКО СЕМЬИНГЕ A PARTNERSHIPS FOR THE ALS Develop a workplace and staff in a way that enable each person to put their abilities to use Contribute to preserving the global environment Bolster a corporate foundation that is sincere and fair GOOL HEALTH AQUAUTY GENDER DECEIT WORK AND REDUCED ARDNER-BEING 4 EDUCATION ECUALITY 8 ECONOME EREWITH INILALITE GLEAM WILTER AND STATION D 13 OLIVATE DENDER EQUALITY +Ⓡ FORD AND HOUSTRY, INNOVATION AND INFRASTRUCTURE CLEAR UERSY LIFE ONLAND 17 PART HIRSHIPS FOR THE SUSTAINABLE CME AND COMMENTS 10 REDUCED IHELLITES 16 THE STRONG PENGE JUSTICE INSTITUTIONS 17 PART MINSHIPS FOR THE GOALS RESPONSIBLE 12 COUNT AND PRODUCTIO#54Specific initiatives (1) Bringing about a decarbonized society Promote efforts to reduce carbon emissions The amount for FY2022 is expected to be about 37% less than that of FY2013, and efforts toward the target making steady progress. * Actual results and targets for reduction are Scope 1+2 (t-CO2) 300,000 200,000 309,902 Down approx. Down 37% 32% Down 46% 234,679 202,632 207,698 193,000 211,000 167,100 100,000 Practically zero 0 (fiscal year) 2013 2019 2020 2021 2024 (Result) (Result) (Result) (Result) 2022 2050 (Estimate) (Target) (Target) (Target) Preliminary figures 2030 Efforts to address climate change Endorsing TCFD recommendations and disclosing information based on the TCFD recommendations [Details of disclosure for FY2022] Item Subject to be disclosed Disclosure items Details Non-consolidated railway, real estate, and distribution businesses of Nankai Electric Railway Risks (transition risks/physical risks) and opportunities associated with climate change Quantitative business impact (financial impact) anticipated from the risks and opportunities In FY2023, the scope to be disclosed is planned to be expanded to include some Nankai Group Companies. NANKAI 53#55Specific initiatives (2) Established policy for each item to promote sustainable management Established policies - Selected as a constituent of the ESG investment indices adopted by the Government Pension Investment Fund (GPIF) · FTSE Blossom Japan Sector Relative Index Disclosure ESG 2022.4 G Basic policy on anti-corruption 2022.6 S Declaration on Health - MSCI Japan ESG Select Leaders Index 2022.8 G Nankai Group material procurement policy 2022.8 S Nankai Group human rights policy - MSCI Japan Empowering Women Index (WIN) - S&P/JPX Carbon Efficient Index Issuance of sustainability bonds We issued our first sustainability bond in March 2023. Total amount issued Interest rate Term of issue Investors who have indicated their investment 10.0 billion yen 0.629% per annum 5 years 23 organizations (banks, credit unions, life insurance companies, non-life insurance companies, asset management companies, school corporations, etc.) NANKAI 54 54#56Specific initiatives (3) Our Integrated Report 2022 was highly regarded. Received Award of Excellence at the Nikkei Integrated Reporting Awards 2022, sponsored by Nikkei Inc. Our Integrated Report was selected as one of the Highly Improved Integrated Reports by the institution to which the Government Pension Investment Fund (GPIF) entrusts its domestic equity investment management. なんかいいねがあふれてる NANKAI NIKKEI Integrated Report Award 日経統合報告書アワード NANKAI Integrated Report 南海グループ 統合報告書 2022 南海電気鉄道株式会社 For more information on our sustainability efforts, refer to the "Nankai Group Integrated Report 2022." 55#57Appendix 56#58(Reference) Major Initiatives for FY2022 (1) 57 Date April 7 Content SkyDrive and Nankai Electric Railway signed a cooperation agreement, aiming to operate "flying cars" in the Osaka and Wakayama areas. URL for disclosure material URL April 15 A vision to make the Namba area an international tourist city, with a view to the Expo, IR, and the Naniwasuji Line, by upgrading its urban status with the power of entertainment and power of staying. URL -Proposals for the Machinaka Festival at the time of the Expo and formation of bases around the new station for the Naniwasuji Line- May 25 The new company "e-Stadium Corporation" started operations on June 1, 2022 (Wed). ―The new company was entrusted by Nankai Electric Railway to further promote e-sports business operation- URL June 9 Nankai held an exciting experiential event for parents and children along its railway lines to grow an ambitious mindset for children. A website for the child-rearing generation, "Nankai Kurashi," was opened. URL June 13 June 14 High value-added travel products were released, offering special experiences and accommodation plans in Koyasan. -An immersive theatrical experience at Kongobuji (Head Temple of Koyasan Shingon Buddhism)(first session on July 17)— Izumisano City selected Nankai to execute the proposal and Nankai will promote measures to make Izumisano City an advanced e- sports city. URL URL June 16 Nankai is making preparations in phases for the autonomous operation testing on the Wakayama Port Line from July 2022. URL June 28 The Semboku Smart City Consortium Preparatory Committee consisting of Nankai and other companies established the SEMBOKU Smart City Consortium. URL July 19 The "e-Sports Camp," a game camp for high school students from all over Japan, was held in Izumisano City from August 22 to 25, where we had new guests, such as the popular streamer Jasper, URL July 20 NK PEDAL (share mobility service) started on August 1 at Koyasan Station and Kada Station (Wakayama Prefecture). URL * The disclosure material at the URL is available in Japanese only. NANKAI Sustainable management of public transportation business Develop the most popular areas along railway lines and deepen and expand our real estate business Future exploration#59(Reference) Major Initiatives for FY2022 (2) 58 Date Content July 22 LAWN and EMOSHARE, created by the new business development program, were once again selected for the Business Expense Subsidies to Support the Creation of New Businesses by Large Companies' Human Resources (temporary-secondment startup and other creation support businesses) program of the Ministry of Economy, Trade and Industry for this fiscal year. URL for disclosure material URL August 4 Nankai Electric Railway's official website, which is easier to use and emphasizes its unique quality, was relaunched on August 4. URL August 5 The first digital passenger ticket combined with limited express ticket "Limited Express Rapi:t Digital Ticket" went on sale on August 8. URL August 17 Before the opening of "Renovation School @ Kada Line," the Community Development Lecture @ Kada Line "My Pleasant Suburban Life: A Small Business Starting from What I'm Good at" was held on September 10, 2022 (Sat). URL August 18 "Adults' Relaxing Time: Traveling Koyasan in Shibuya, Experiencing Koyasan @ SHIBUYA FUKURAS" was held for 10 days from August 26 to September 4 URL August 24 Installation of platform gates f or Nakamozu Station Line 4 was started. (Operation is scheduled to start around April 2024.) URL August 24 Nakamozu Station renewal work is underway. The east ticket gate opened from the first train on September 17 (Sat). Then the retail area of the concourse was expanded by about three times for station remodeling. URL August 25 -Aiming to make Izumisano City an advanced e-sports city- Implemented three major measures, including the opening of the e-Stadium Izumisano. URL August 25 [Namba Station Area Space Advancement Project] The area around Namba Station Square has been closed to vehicular traffic from November 8 (Tue). URL September 7 The first partner store in Japan “e-Stadium Izumi" opened on September 16. URL September 16 As part of the KiiPass Koyasan project, "Koyasan Digital Ticket" went on sale on September 27. This is the first time for Semboku Rapid Railway to sell digital tickets using a QR code. URL * The disclosure material at the URL is available in Japanese only. NANKAI Sustainable management of public transportation business Develop the most popular areas along railway lines and deepen and expand our real estate business Future exploration#60(Reference) Major Initiatives for FY2022 (3) Date 59 Content The Nankai Group and Seven-Eleven Japan sign a business alliance agreement on the franchise of convenience stores to convert station convenience stores to 7-Elevens. URL for disclosure material September 28 URL October 6 A free-of-charge event for seniors, "From Izumigaoka to Kansai Airport! One-Day Experience Mobility," was held on Thursday, October 27. URL Content: Hydrogen fuel cell bus ride experience, small mobility test drive experience, and safe driving event tour October 19 Testing of "Cycle Train" using a temporary train has been conducted. URL October 24 HYBE JAPAN collaborated with Japan's first "THE CITY" project. The world-famous K-POP group "SEVENTEEN" colored the express train Rapi:t and Namba Station "like the sun!" URL October 25 Testing for the installation of security cameras on commuter vehicles started on October 29, 2022 (Sat). URL October 28 Application was submitted for approval of changes in railway passenger fares. URL November 1 Nankai Electric Railway has acquired overseas IT human resources placement service "Japal" from Nankai Real Estate. URL November 7 Application for the monitoring tour "Future Travel Experience Made Possible by Flying Cars" has started from November 10 (Thu). URL November 8 Seven Kansai railway companies to jointly establish MaaS URL -Japan's first wide-area MaaS by a railway-company consortium is to be developed in the Kansai region- November 21 e-Stadium Izumisano opened on November 28!-Aiming to make Izumisano an advanced e-sports city— URL December 2 URL The 4th Kansai e-Sports Student Championship 2022 started on December 3! -Even online, sports are popular at the end of the year! * The disclosure material at the URL is available in Japanese only. NANKAI Sustainable management of public transportation business Develop the most popular areas along railway lines and deepen and expand our real estate business Future exploration#61(Reference) Major Initiatives for FY2022 (4) 60 Date Content URL for disclosure material December 6 Opened the first affiliated store, 7-Eleven Nankai Namba Station Chuoguchi store on December 20 (Tuesday). URL December 6 The Nankai Group will continue "Visa Touch Payment System" and "Digital Ticket" services after December 12. -Reinforcement of our systems to accept customers, including inbound travelers― URL December 20 Opened e-Stadium Gifu on December 22! The first permanent e-sports facility was established in Gifu Prefecture! URL December 20 NANKAI on-demand bus testing project started on January 10, 2023. URL January 10 The number of express train Rapi:t services in the morning time zone was increased from February 11 (Saturday, national holiday) URL January 10 Construction of Hotel Keihan Namba Grande complete, scheduled to open on March 25. URL January 10 -New office building in Namba area will open. -The construction of Parks South Square was completed today. URL January 13 ENTER FORCE.36, a professional e-sports team, relocated its headquarters to Osaka! URL Nankai Electric Railway will support the team as an official partner. January 17 January 19 Through co-creation by industry, academia, and financial institutions, we support the growth of local companies with Japal, our overseas IT staffing service. URL We started testing a multilingual interactive Al guide robot at Namba Station and Kansai Airport Station on January 24 (Tuesday). [Semboku Rapid Railway] URL January 19 URL Revision of railroad fares-First railroad company in the Kansai region to change IC fares for children on our lines to a flat rate of 50 yen- * The disclosure material at the URL is available in Japanese only. NANKAI Sustainable management of public transportation business Develop the most popular areas along railway lines and deepen and expand our real estate business Future exploration#62(Reference) Major Initiatives for FY2022 (5) 61 Date Content URL for disclosure material January 26 In collaboration with Tokyo Institute of Technology, we will conduct testing on visualizing congestion for trains on the Koya Line. URL February 2 Renewed Nankai Digital Ticket, a ticket using QR codes, will go on sale! URL February 3 Application for revision of railroad passenger fares was approved. URL February 16 [First among railroad companies in Kansai] We will conduct testing of a universal communication service using a transparent display that automatically displays subtitles during conversations. URL February 16 [Namba Parks] Twenty-six new stores will open one after another! "Mika Nakashima Live & Talk Event" will be held! -Renewal to commemorate the 15th anniversary of the grand opening URL Namba Parks South, a new section, was born! March 1 URL -A luxury hotel that has entered Japan for the first time, with shops, restaurants, and more― March 8 Appointed as a Kansai special partner of VALORANT Challengers Japan 2023 Split 1 - Playoff Finals, the most prestigious e-sports tournament URL March 22 Up to 1,600 Pokéstops and Gyms for Pokémon GO appear at stations, bus stops, shopping centers, and other locations operated by the Nankai Group. URL March 24 We formulated Greater Namba vision to create the next generation, ENTAME-DIVER-CITY-Meet! Eat! Beat! On NAMBA—. URL March 27 Our e-sports efforts received the FOST Social Contribution Award! URL * The disclosure material at the URL is available in Japanese only. NANKAI Sustainable management of public transportation business Develop the most popular areas along railway lines and deepen and expand our real estate business Future exploration#63(Reference) Kyoso 140 Plan Numerical Targets Improve both operating income and the ratio of the net interest-bearing debt to EBITDA and build financial foundations for future growth ● Systematically advance CO2 emissions reduction toward FY2030 The numerical targets (consolidated basis) for FY2024, the final year of the plan, are as follows. Operating income*1 Ratio of the net interest-bearing debt to EBITDA *2 ¥28.0 billion 7.5 times or less *1 Operating income + Dividend income *2 Operating income + Dividend income + Depreciation and amortization <Reference> Capital investment amounts (three-year total) Reduction of CO2 emissions. (FY2024) ¥160.0 billion -32% from FY2013 levels NANKAI 62#64(Reference) Numerical Plan: Consolidated FY2022 results: Achieved upward and improved results compared to the business forecasts FY2023 forecast: Forecast upward and improved results compared to the plan drawn up for the Medium-term Management Plan FY2024 plan FY2021 results FY2022 results FY2023 forecasts (released in April 2023) Operating income*1 ¥12.9 billion ¥22.0 billion ¥25.5 billion ¥28.0 billion Net interest-bearing debt ¥446.0 billion ¥436.1 billion ¥429.8 billion ¥433.9 billion Ratio of the net interest-bearing debt to EBITDA *2 10.7 times 8.8 times 8.0 times 7.5 times FY2021 results*4 FY2022 results FY2023 forecasts (released in April 2023) FY2024 plan Total capital investments*3 ¥21.4 billion ¥30.1 billion ¥53.3 billion ¥66.0 billion Future exploration ¥0.8 billion ¥6.4 billion Revenue expanding ¥6.2 billion ¥9.9 billion ¥14.5 billion ¥5.7 billion ¥38.0 billion Safety and renewal ¥15.2 billion ¥19.4 billion ¥32.4 billion ¥22.3 billion *1 Operating income + dividend income NANKAI *2 Operating income + dividend income + depreciation and amortization 63 *3 Figures before consolidation and elimination, including investments, etc. *4 Figures for FY2021 are after consolidation and elimination and do not include investments, etc.#65(Reference) Details of capital investments (¥160.0 billion over three years) Ensure appropriate levels of investments in line with the outline of our business strategies Seek both the increase of value as a sustainable company and the realization of a sustainable society and allocate a certain investment amount to "sustainable investments" 1. Sustainable management of public transportation business ¥52.0 billion: • To maintain a sustainable transportation network, systematically make safety investments and renewal investments 2. Develop the most popular areas along railway lines and deepen and expand our real estate business ¥93.0 billion: • While securing development funds through a REIT, make concentrated investments in the Namba and Izumigaoka areas and for the functionality enhancement of logistics facilities 3. Future exploration ¥15.0 billion: . Sustainable investments* 64 out of the total capital investments Investment in disaster countermeasures: ¥5.0 billion Preparation for worsening disasters and prevention countermeasures Investment in DX promotion: ¥9.0 billion Creation of new values and workstyles by making full use of data and digital technologies Investment in CO2 reduction: ¥19.0 billion Utilization of opportunities for global warming mitigation and the shift to a carbon-free society • Investment in brand enhancement: ¥16.0 billion Enhancement of product, service, corporate, and regional brands Investment in diversity enhancement: ¥4.0 billion Enhancement of the working environment for diverse employees Total: ¥46.0 billion (some items are duplicated) • Allocate budget for building a third core business, following railway and real estate businesses, from a medium- to long- term perspective NANKAI * Major investments to realize materiality items identified for sustainable management#66(Reference) Nankai Group Management Vision 2027 65 The outline of the "Nankai Group Management Vision 2027" remains unchanged. The point is how can we deepen it. <<Ideal form for 2027>> Develop the most popular areas along railway lines and become the most preferred corporate group by delivering satisfaction and delight to customers A decade of enhancing Our position the attractiveness of areas along our railway lines in preparation for the opening of the Naniwasuji Line With neighborhoods along our railway lines as main business areas, apply all the abilities of our group to focus on increasing value along these lines By using Namba and inbound tourism as business chances, accelerate increasing value along our railway lines ● By proactively using alliances, raise the speed of business development NANKAI#67(Reference) Nankai Group Management Vision 2027: Outline of business strategies Business Strategy 1 Develop the most popular areas along railway lines 1. Provide high quality transportation services that are familiar (1) Safe, secure, and robust transportation network (2) A transportation group with a top international reputation (3) Enhance customer satisfaction 2. Develop the Namba community, which is the entry point for our railway lines. Synergy Business Strategy 2 Deepen and expand our real estate business 1. Increase income properties and advance toward flow business -Transform into an integrated developer 2. Complete functionality enhancement of logistics facilities (Higashi-Osaka and Kita-Osaka Logistics Centers) Create "Greater Namba" 3. Mobilize all our resources for measures to revitalize communities along our railway lines Reverse population movement from net loss to net gain in 10 years NANKAI Cultivate this as a core business that is equal to our railways (generating a majority of operating income) Support as a foundation Lay a Group management foundation 1. Careful business selection 2. Proactively utilize IT as a corporate group 3. Human resources strategies 4. Financial strategies 99 66#68(Reference) Nankai's corporate image in 2050 Community coexistence and co-creation, diverse lifestyles Together with local communities Under the banner of being community-based, we will continue to treasure connections with people in communities and areas along our railway lines and work together with these people to create diverse communities where diverse groups of people can live in happiness. Diversity and globality With our roots within the local communities, NANKAI with an entrepreneurial spirit is firmly "Think Globally, Act Locally" With Kansai International Airport as a gateway to the world (Asia), and Namba as a diverse community, we will foster diversity that respects and enhances diverse values and individuality while staying close to Namba, where diverse people from all over the world will continue to gather for the foreseeable future. committed to creating "DiverCity" * in Kansai * Mobility 67 Mission as a public transportation operator We will deepen the history and responsibility of safe and secure operations of the transportation business cultivated in areas along our railway lines to evolve into more diverse mobility business that connects "person and person," "community and community," and "people and communities" towards the future. Nankai identity Strong will to open the way to the future on our own Throughout the long history since its founding, the Nankai Group has built its culture and identity and created a new roadmap for the future. Keeping our mission and responsibility as a member of society in mind, we will take on new challenges, become a business group that carries through on its commitments, and open up our own future. DiverCity: "DiverCity" is a term created by combining "Diversity" and "Diverse City (city filled with diversity)" that we seek to realize. NANKAI#6968 89 (Reference) Progress of private REIT Nankai REIT Management Company, Ltd. (asset management company) was established in October 2022. We will proceed with necessary approval and license procedures and establish an investment corporation to start operation as early as possible. <Project scheme> [Task 1] Secure development funds for community development [Task 2] Control the balance sheet by off-balancing Nankai REIT Management Co., Ltd. (consolidated subsidiary) Entrusting management (Sponsor) Nankai Group Capital recovery NANKAI Investment corporation Loan Property [Assets] Sale Actual real [Borrowings] Lenders (financial institutions) estate or Repayment PM/BM [Task 3] Build fee businesses after the sale real estate trust beneficiary rights Investment Property lineups unique to Nankai [Capital] Investors (qualified institutional investors) Dividend [Expected effect 1] Accelerated community development through collaborative creation [Expected effect 2] Streamlined balance sheet and improved ROA [Expected effect 3] Diversified real estate income#70(Reference) e-Sports Initiatives In FY2022, we implemented measures from two vectors, facility operations and events. We will continue to explore all possibilities for early generation of profits. Facility management business • Showroom: e-Stadium Namba Directly managed stores: e-Stadium Saga, e-Stadium Gifu • FC Store: e-Stadium Izumi • Entrusted by the government: e-Stadium Izumisano Event business • Independent planning: Kansai e-sports student championship • Entrusted by the government: e-Sports Camp • Participation in tournaments: Appointed as a Kansai special partner of official VALORANT tournaments *In addition to the above, we held seminars on mental health, etc. with the cooperation of Kobe University. CHALLENGERS WINNERS We received the FOST Social Contribution Award sponsored by the foundation for the Fusion Of Science and Technology in recognition of our ongoing efforts to promote understanding among the parents' generation while staying close to students under the Players First policy. NANKAI 69#7170 (Reference) Naniwasuji Line Plan Naniwasuji Line Received approval for railway business in July 2019. Approval for construction was obtained and the urban project decision was publicly announced in February 2020. Full-scale construction project began at Nakanoshima Station and Nishi-Hommachi Station from the second half of FY2021. Preliminary work for excavation is underway at the Nankai Shin-Namba Branch Tunnel section. While continuing land acquisition, we will work on other sections to start line operation in spring 2031. Hankyu Kyoto Line Hankyu Takarazuka Line. Tokaido Shinkansen JR Shin-Osaka Hankyu Kobe Line Sanyo Shinkansen Juso Discussions and reviews for the Naniwasuji connecting line and Shin-Osaka connecting line Osaka station Umeda (Umekita Area) To Kobe Hanshin Namba Line Nakanoshima Nishi- Hommachi To waterfront area JR with only Keihan Nakanoshima Line Osaka Metro Chuo Line Nankai Shin-Nar JR Namba Nankai Namba Branch Line JR Tokaido Line Joint JR-Nankai Zone with only Nankai Shin-Imamiya (Overall diagram) Nankai Line JR Loop Line Overview of Plans for the Naniwasuji Line Service zones Intermediate stations Total project cost • Osaka Station (Umekita Area)-(tentative name) Nishi-Hommachi Station - Nankai Shin-Imamiya Station • Osaka Station (Umekita Area)-(tentative name) Nishi-Hommachi Station to JR Namba Station Nakanoshima Station (tentative name), Nishi-Hommachi Station (tentative name), Nankai Shin-Namba Station (tentative name) Approx. ¥330.0 billion (estimate) Components: Investment by local governments: Approx. ¥33.0 billion (Osaka Prefecture: ¥16.5 billion, Osaka City: ¥16.5 billion) Private investment: Approx. ¥33.0 billion (Nankai Electric Railway: ¥18.5 billion, JR West: ¥14.5 billion) To Kyoto Project implementation Kansai Rapid Railway Co., Ltd. Naniwasuji Line To Nara To Nara Kintetsu Nara Line and Osaka Line Operator and operation segments Targeted start of commercial service Nankai Electric Railway Co., Ltd. Operation segment: Osaka Station (Umekita Area)-Nankai Shin- Imamiya Station West Japan Railway Company (JR West) Operation segment: Osaka Station (Umekita Area)-JR Namba Station Spring 2031 * Osaka Station (Umekita Area) opened March 2023 in a project to convert the Tokaido Branch Line to an underground line and establish a new station. NANKAI • (Reference) Favorable results were obtained from a study of the Naniwasuji connecting line and Shin-Osaka connecting line conducted by the Japanese government in FY2017. Based on the results of the study, the related parties will conduct discussions and reviews with the aim of commercializing the project at an early stage.#72(Reference) Route map For Kobe Shin-Osaka Osaka Namba Shin-Imamiya Tengachaya Sakai Sakai-Higashi Nakamozu Kansai International Airport Airport Line Kansai-Airport Rinku-Town Izumisano Ozaki Nankai Line Izumigaoka Kishiwada Izumi-chuo Semboku Rapid Railway Kada Wakayamadaigakumae NANKAI Wakayamashi Koyasan Kongo For Kyoto Kawachinagano Koya Line Rinkanden-entoshi Hashimoto Gokurakubashi 71#73(Reference) Main facilities in the Greater Namba area (map) 72 Sakaisuji Line Nippombashi Dotonbori area -Midosuji Line, Yotsubashi Line PN Sennichimae Line 8 Osaka Namba S Kuromon Market Ura-Namba area 10 Nankai 2 Namba Station Naniwasuji Line 9 Namba Station 12 Namba Station JR Namba Station NANKAI 14 Ex ED HD Nippombashi Denden Town Shinsekai area Ebisucho Station 3 PHARA 名 Shin-Imamiya Station 13 7 Imamiya Ebisu Statio 2 Shin-Imamiya Station 群 Dobutsdenmae Station SITT Hankai Line Company facilities Nankai Building ②NAMBA CITY ③Swissôtel Nankai Osaka 4PARKS TOWER ⑤NAMBA PARKS ⑥Fraser Residence Nankai, Osaka ⑦EKIKAN ⑧Nankai Namba Midosuji West NAMBA SkyO 10 Nankai Namba Building No. 2 11 Shin-Imamiya Ekimae Hotel ⑫Namba Midosuji Center Building 13 YOLO BASE 14 Nankai SK Namba Building Nankaihonsen Line 11 Koya Line - Developed (including capital contribution) DOMO7 Osaka by Hoshino Resort Shin-Imamiya Station Renewal 4 E Daikokucho Station 見 Imamiya Station Osaka Loop Line 如 Under development (including capital contribution) ①Namba Station Front Plaza Project 2Nambanaka 2-chome Development Project 3Ebisu-cho Land Development Project Development under consideration * Naniwasuji Line: Currently under development#74(Reference) Main facilities in the Greater Namba area (list) Facility name 1 Nankai Building NAMBA CITY ③ Swissôtel Nankai Osaka Leasing area Month & year of completion (acquisition) 49,827 m² July 1932 Approx. 33,200 m² 1978*2 61,557 m² March 1990 Main uses Takashimaya Osaka and shops Shopping center Hotel Offices and shops Shopping center PARKS TOWER 36,500 m² August 2003 NAMBA PARKS Approx. 51,800 m² October 2003*2 Fraser Residence Nankai, Osaka 7,332 m²*1 July 2010 Ο ΕΚΙΚΑΝ Approx. 3,700 m² 2014*2 ⑧ Nankai Namba Midosuji West 4,286 m² September 1985 (July 2018) Offices Serviced apartments Shopping center 73 NAMBA SkyO Nankai Namba Building No. 2 Shin-Imamiya Ekimae Hotel ⑫2 Namba Midosuji Center Building YOLO BASE 14 Nankai SK Namba Building NANKAI 45,927 m² October 2018 Offices, medical facilities, conference hall, commercial service facilities 1,500 m²*1 November 1988 (November 2018) Offices 4,952 m²*1 August 2018 (December 2018) Hotel (Portion owned by the Company) 5,665 m² (Overall) 6,217 m² March 1992 (April 2019) 3,156 m²*1 September 2019 14,141 m² March 1983 (February 2020) Offices *1: Total floor area *2: Phase 1 opening Offices and shops Co-working space and student dormitory (as of May 19, 2023)#75NANKAI <Contact for IR inquiries> Nankai Electric Railway Co., Ltd. Financial Strategy Group, Sustainability Promotion Department(Investor Relations) Tel: +81-6-6644-7105 E-mail: [email protected] https://www.nankai.co.jp/en/company.html Cautionary Statement Regarding Forward Looking Statements This presentation was not prepared for the purpose of soliciting an investment in Nankai Electric Railway Co., Ltd. It is reference material only, and you should consult the Company's Kessan Tanshin (Financial Results-available in Japanese only) and Yukashoken Hokokusho (Annual Securities Report-available in Japanese only) for accurate financial results. The presentation contains forward-looking statements including financial forecasts and other projections that have been determined based on information currently available to management. Forward-looking statements involve considerable uncertainty due to factors including trends in demand and other changes in business conditions as well as fluctuations in prices. Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.