Investor Presentaiton

Performance 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

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