9/28  -Business Scale and ASK on Air Transportation Business

◎ Next, I will talk about the air transportation business. By discussing our long-term business scale and our approach to ASK. ◎ Amid the issues of low birth rates and an aging society in Japan, we anticipate the domestic passenger market that we target as the ANA brand will mature. We will continue to optimize supply and demand and control with appropriate yield management to maintain profitability as the ANA brand in order to hold our current market share. ◎ In addition, the ANA brand continues to expand ASK on international passenger operations thanks to strong demand in Asia. We will promote our growth based on network expansion with a fleet strategy that will enable us to respond to additional slots at Narita and Haneda. ◎ The LCC business is now creating a new segment of demand that is different from the ANA brand. In addition to capturing demand among foreign travel to Japan and other aspects of our international passenger operations, there is still significant opportunities for the expansion of business demand, including among our domestic passenger operations. Through Vanilla Air and Peach Aviation, we will maintain our position as the No. 1 LCC operator in Japan while continuing to increase destinations. ◎ Please turn to page 9.