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Investor Presentaiton

2. Outlook for FY20 (1) Current Business Environment and Status of Passenger Volume Business Environment ➤ The government declared a state of emergency on April 7 and lifted it on May 25 > However, the government is continuing to encourage people to refrain from traveling from Tokyo to other prefectures even after May 26 ➤ Cancellation of domestic passenger flights continues even during June > As for international flights, cancellation of passenger flight operations continuing to be encouraged; the timing of resumption yet to be determined ➤ Some merchandise stores and restaurants inside the Haneda Airport terminals resumed operations after May 26 > Measures to stimulate domestic tourism demand are being considered by the Japan Tourism Agency ("Go To Campaign") Change in passenger volume Airport Airport (%) April Haneda -90.5 Haneda - Domestic Domestic Haneda -98.2 International Total Haneda -92.3 Haneda - International Narita -97.7 Kansai -99.7 Chubu Centrair -100.0 Japan Airport Terminal Co., Ltd. March Ave. 10% Started on Mar. 6 20% toward the end of the month Status of cancelled flights April Ave. 50% May 25% at the beginning of the month Ave. 80% Throughout the month 75% toward the end of the month Ave. 60% 35% at the beginning of the month 85% toward the end of the month Ave. over 90% 90% at the beginning of the month 95% toward the end of the month June 70% or more Until the middle of the month 90% or more 1 to 7 flight operations per Same level as May day • It is expected that passenger volume at Haneda Airport will gradually recover in the second quarter of the year onwards but will not recover to the level in the previous year. 08
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