Investor Presentaiton

Prefectural Bonds Issuance Plan Issuance amount since 2006 Recent new issues in 2018 (JPY bn) Launch Issue Amount Tenor Yield 9/6/2018 JPY10bn 10yr 0.239 300 8/8/2018 JPY10bn 5yr 0.030 8/3/2018 JPY10bn 10yr 0.254 7/19/2018 JPY10bn 260 20yr 0.530 7/5/2018 JPY10bn 20yr(Sinkable) 0.355 250 7/4/2018 JPY10bn 10yr 0.175 6/6/2018 JPY10bn 10yr 0.195 5/9/2018 JPY10bn 5yr 0.030 5/9/2018 JPY10bn 10yr 0.195 4/20/2018 JPY20bn 20yr(Sinkable) 0.378 200 4/20/2018 JPY20bn 30yr 0.822 4/4/2018 4/4/2018 JPY10bn JPY20bn 5yr 0.040 10yr 0.170 150 20 Shizuoka indicative yield curve* 40 1.00% 0.913% 100 0.80% 0.629% 0.813% 0.60% 70 0.446% 0.594% 0.40% 50 0.235% 0.20% 0.341% 0.020% 30 0.00% 0.095% 0 -0.20% 06 07 08 09 10 11 12 13 14 15 16 17 18 -0.081% 5yr 10yr 15yr 20yr 30yr ■5yr 10yr 15yr 20yr ■30yr Shizuoka -JGB Non-residents and non-domestic entities are exempted from paying taxes on the interest of transfer local government bonds. The procedures have been simplified from June 2010. * As of 13th Aug 2018 18

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