Investor Presentaiton

Structural Reform (Drastic Strengthening of Management Structure) (1) Reduce railway business Operating Costs* by ¥100.0 billion in FY2028.3 compared to FY2020.3 JR JR-EAST I Aim for a flexible cost structure reflecting usage changes in post-COVID-19 society and future population decline *Operating expenses, except of depreciation and taxes Cost Reductions in FY2021.3 Personnel expenses Reduction Amount Main Structural Reforms under "Move Up" 2027measures (\billion) -10.0 Streamline operation systems, Establish an efficient sales system, etc. Reduction of bonuses Non- Advance personnel Maintenance (railcars) Rigorously analyze the timing of parts and materials replacement expenses Maintenance (general) Postpone or cancel certain structural reform measures Smart maintenance (CBM, Mechanization, etc.) System changes (Use new technologies, etc.) items Streamline operation systems (Revise timetables for last-train, etc.) Streamline facilities (Reduce ticket vending machines and automatic ticket gates) -20.0 Curb security consignment Outsourcing and other expenses, publicity and advertising expenses, and goods expenses, etc. Actual and Projected Operation Costs Establish an efficient sales system (ticketless, mobile shift, etc.) Structural reform of Group companies (multi-tasking, insourcing, etc.) -20.0 Additional reduction of Operating Costs (+a) -50.0 1,324.6 1,358.8 Revenue-related and natural decrease Emergency reduction 100.0 reduction through structural reforms 1,244.9 FY2019 FY2020 FY2021 About 1,250.0 (\billion) FY2028 target 19

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