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Investor Presentaiton

Improve Profitability (Rebuild Growth and Innovation Strategies) (2) Establishment of JR East Real Estate Management Co., Ltd. Aims Establish a “rotational business model" that incorporates properties developed and owned Reinvestment by the Group and reinvests acquired funds in growth areas Further speed up JR East's lifestyle and town development through the real estate fund business ■Strengthen the real estate business through the asset management business and create new value integrated with the Group's strengths Future Prospects Aiming to accelerate the formation of private placement funds and increase the scale to ¥100.0 billion within a few years Consider the formation of a real estate investment company (REIT) Sulca The Group's growth The JR East Group Life-style services IT & Suica services Transportation services Creation of new value integrated with the Group's strengths Reinvesting acquired funds in the growth areas of JR East Group businesses Development of towns with diverse appeal and development of lifestyles based on real x digital JR JR-EAST Incorporation of developed properties, etc. Development profit Creating investment capital through real estate funds Secure development profit and enhance capital efficiency Establish JR East Real Estate Management Co., Ltd., and establish a real estate asset management business Establish a "rotational business model" that accelerates the JR East Group's growth Rotational business model Long-term-ownership business model Speed up transformation by strategically using the two separate business models for different purposes 15
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