Investor Presentaiton

Change in Expenditure Accounts Reduction in investment expenses through administrative reform Units:JPY bn 1,400 54.5% 54.9% 1.200 1.000 800 600 22.3% ⚫18.6% 400 200 60% 51.5% 50% 40% 30% 20% 14.7% 10% + 0% 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 Mandatory Expenses (Personnel. Social security, Debt etc) Others Investment Expenses (Roads. Rivers. Ports etc) Mandatory Expenses as % of Total (Right axls) 14

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