Fact Book 2020

March 31, 2021 Contents

Ⅰ. Company Profile

Main Business Areas 3 Trends in Population of Area along the Odakyu Line 4 Business Planning Structure 5

Ⅱ. Business Areas

Overview by Segment 7 Initiatives along the Odakyu Line 16 ESG Data 23

Ⅲ. Other Information

Price Performance Chart 26 Dividend Policy 27 Outline of Employees 28

Ⅳ. Financial Data

Main Business Areas

The Odakyu Line is a major private railway line, with its main terminal at Shinjuku Shinjuku Station, that connects Tokyo with Kanagawa Prefecture. What makes the Odakyu Line special is that it links the city center with Yoyogi-Uehara residential districts and tourist attractions. Shimo-Kitazawa Karakida

Shinjuku Shin-Yurigaoka Operating Kilometers ： 120.5km Noborito Daily average Sagami-Ono passengers ： 1.43 million people Machida Number of stations ： 70 stations Multiple double track section Ebina Yamato : Stations averaging more than 100,000 boarding/alighting

passengers per day* (11 stations) ＊As of 2019

Hon-Atsugi (27 Cities, Towns and Villages) Fujisawa Area ： 1,226km2 Odawara Kamakura Population ： 5.20 million people ＊Oct. 2020 Hakone-Yumoto Katase-Enosima Number of households ： 255 million ＊Spt. 2020 Hakone Enoshima / Kamakura Income index per person ： 141.4（National average =100）

Trends in Population of Area along the Odakyu Line

■ Trends in Population of Area along the Odakyu Railway Lines (Result) < 27 municipalities along the Odakyu Line > ＊As of October 1 of Each Year by National Census ● Tokyo

Shinjuku Shibuya Setagaya Komae Tama Inagi

Machida

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 ● Kanagawa Total (thousands of people) 5,008 5,019 5,035 5,054 5,074 5,093 5,123 5,145 5,166 5,191 5,200 Tama, Kawasaki Asao, Kawasaki Rate of change 0.6 0.2 0.3 0.4 0.4 0.4 0.6 0.4 0.4 0.5 0.2 Sagamihara* Zama Ebina Atsugi ■ Forecasted Trend in the Population of the Area along the Odakyu Line Kiyokawa Aikawa ＊Source: "The Population Summary of the Basic Resident Register" Odakyu Line Isehara Nakai （Line graph unit: %） National Average Hadano Matsuda 101.6 102.1 101.6 100.5 98.9 Oi Kaisei 100 Minami-Ashigara Odawara 99.2 97.9 Hakone Yamato 95.7 93.0 Ayase Fujisawa 90.0 *Population data for Sagamihara: The population data in the upper chart do not include the four towns that were merged into Sagamihara (Sagamiko, Tsukui, Shiroyama FY2010 FY2015 FY2020 FY2025 FY2030 FY2035 and Fujino). Total (thousands of people) 5,079 5,161 5,185 5,162 5,105 5,020

Business Planning Structure

Group’s Management Principle Group’s Management Principle The Odakyu Group will contribute to helping customers create “irreplaceable times” and “rich and comfortable lifestyles.”

Group Action Guidelines Management In order to realize our management principle, we will provide “excellent quality” and “a Principle moving experience” to our customers, without forgetting our three guiding principles. “Sincerity” “Enterprise” “Harmony”

Becoming a Community Value Creation Company In order to grow together with communities along the Odakyu Line and in areas where we operate businesses, we will evolve into a company that creates new value in communities, UPDATE Odakyu such as customer experience and lowering of the environmental load, by constantly striving to think outside the box.

—Becoming a Community-Based Future Fields Value Creation Company Values we aim to provide to communities and customers in the future

Update the business Period of Structural Reform Period of Rapid Growth model that has been in (First Three Years) (Last Three Years) place for 100 years by Realize a recovery in business conditions Promote business creation and expansion 2027 and make reforms for a period of rapid that leads to the sustainable future growth growth of the Odakyu Group

Medium-Term Specific measures to be implemented over three years Management Plan from FY2021

5 Copyright 2010 OdakyuCopyright Electric 2019 Odakyu Railway Electric Co., Railway Ltd.. Co., All Ltd.. Rights All Rights Reserved. Reserved. 5 5 CopyrightCopyright 20192021 2018 Odakyu Odakyu ElectricElectric RailwayRailway Co., Co.,Ltd. Ltd.. AllAll RightsRights Reserved. Reserved. Ⅰ. Company Profile Ⅱ. Business Areas Ⅲ. Other Information Ⅳ. Financial Data Future Fields

Mobility x Security and Comfort Creating a new mobility life for communities

While making universal value in the form of security and comfort accumulated over 90 years an unshakable foundation, we will apply future technologies Mobility x Tourism to create a next-generation mobility life for communities that will enable people Security x to get around and meet people they want to meet when they want to meet them. and Experiences Comfort Community Development x Attachment Creating a new narrative for communities

We will create occupational, residential, commercial, academic, and recreational settings Community that take advantage of the individuality and characteristics of communities and foster Living Development attachment to and pride in communities together with customers. x x Enjoyment Attachment Through resolution of issues facing customers and local communities, we will create Excitement a new narrative for communities. x Innovation Living x Enjoyment Producing emotionally moving moments in uneventful everyday life

We will produce emotionally moving moments that go beyond a sense of security by speedily identifying changing trends and diversifying customer wants and by co-creating together with various partners times and spaces that bring color and charm to uneventful everyday life.

Tourism x Experiences Excitement x Innovation Providing special memories from experiences found nowhere else Providing excitement to customers at all times We will contribute to the development of Japan, regions, and communities Each employee will make excitement the source of ideas by unleashing their by discovering ways for people to spend time and enjoy themselves unique independence, creativity, and enthusiasm. To deliver new value to specific localities together with local residents and assisting in providing guests to customers, we will at all times embrace change and continue from Japan and around the world with experiences to challenge the unknown. that remain as special memories.

6 Copyright 2010 OdakyuCopyright Electric 2019 Odakyu Railway Electric Co., Railway Ltd.. Co., All Ltd.. Rights All Rights Reserved. Reserved. 6 6 CopyrightCopyright 20192021 2018 Odakyu Odakyu ElectricElectric RailwayRailway Co., Co.,Ltd. Ltd.. AllAll RightsRights Reserved. Reserved. Ⅰ. Company Profile Ⅱ. Business Areas Ⅲ. Other Information Ⅳ. Financial Data Overview by Segment

＜Consolidated Financial Data (FY2020)＞

■Revenue from operations：385.9billion yen ■Operating income：△24.1billion yen ● Affiliated Companies Transportation 116.2billion yen Transportation △25.9billion yen

Merchandising 157.6billion yen Merchandising △1.7billion yen Number of consolidated subsidiaries ： 39

Real Estate 72.8billion yen Real Estate 16.4billion yen Number of equity-method affiliates ： 1 Other Businesses 68.1billion yen Other Businesses △13.0billion yen

Adjustments △28.9billion yen Adjustments 0.0billion yen

For consolidated financial data for individual segments, see P.40

Transportation Merchandising ・Railway business ・Bus business ・Department stores ・Stores and retail, etc. ・Boat business (tourist boats) ・Ropeway business, etc.

Real Estate Other Businesses ・Real estate sales ・Real estate leasing ・Hotels ・Restaurant business, etc.

7 Copyright 2010 OdakyuCopyright Electric 2019 Odakyu Railway Electric Co., Railway Ltd.. Co., All Ltd.. Rights All Rights Reserved. Reserved. 7 7 CopyrightCopyright 20192021 2018 Odakyu Odakyu ElectricElectric RailwayRailway Co., Co.,Ltd. Ltd.. AllAll RightsRights Reserved. Reserved. Ⅰ. Company Profile Ⅱ. Business Areas Ⅲ. Other Information Ⅳ. Financial Data Overview by Segment (Transportation)

■ Overview of the Group’s Railway Business Shinjuku Odakyu’s Multiple Double Track Construction Karakida • With conventional double track lines (one up Machida Shin-Yurigaoka track and one down track), transportation capacity was limited. Odakyu Electric Railway Sagami-Ono • In order to realize a comprehensive improvement Hon-Atsugi in transportation capacity, Odakyu launched a Ebina 30-year multiple double track construction project.

Hakone Tozan Railway ⇒ Multiple double track construction Enoshima Electric Railway Fujisawa was completed in March 2018 Gora Odawara Kamakura Hakone-Yumoto Katase-Enosima Double track Congestion due to trains having to wait at stations for other trains to pass them leads to slow average train speed.

Strengthening safety Installation of platform doors, implementation of safety measures measures at level crossings, etc. Multiple double track Building of new commuter train rolling stock and overhaul of Enhancing service existing rolling stock, as well as renovation of station Eliminates the problem of slow quality buildings, etc. average train speed. Number of trains can be increased. (hundred million yen) 256 hundred Congestion is eased. million yen 400

300 200 • Shorter journey times and fewer delays at peak times 100 • Reduced average congestion rates at peak times • Commuters have more chance of getting a seat in the mornings 0 8 FY 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 8 Copyright 2021 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Ⅰ. Company Profile Ⅱ. Business Areas Ⅲ. Other Information Ⅳ. Financial Data

Overview by Segment (Transportation)

＜Odakyu Electric Railway Trends in Work Commuter Passengers＞

Index 160.0

Productive population along Odakyu lines

150.0

Work commuter passengers

140.0

130.0

Index of regularly employed workers (Tokyo, Kanagawa) 120.0 FY2020 FY1976=100 Work commuter passengers: 120.0 110.0 Productive population along Odakyu lines: 145.9 Index of regularly employed workers: 145.5

100.0

FY ＜Sources ＞ Productive population along the Odakyu lines Employment index for regular workers (Tokyo): “Tokyo Statistical Yearbook” (Tokyo): “Tokyo Wages and Hours Worked” (Kanagawa): “Population Statistical Survey by Age Group” (Kanagawa): “Monthly Labor Statistics Local Preliminary Survey”

Overview by Segment (Transportation)

＜Odakyu Electric Railway Trends in School Commuter Passengers＞

Index 150.0

140.0

130.0

120.0 School commuter passengers 110.0

100.0 FY1976=100 90.0

80.0 High school students and students who wish to go to next stage of education (Tokyo, Kanagawa) 70.0 FY2020 School commuter passengers: 55.2 60.0 Students: 86.9

50.0

FY ＜ Source ＞ Basic School Survey Report

Overview by Segment (Transportation)

＜Odakyu Electric Railway Trends in Non-commuter Passengers＞

Index 200.0

180.0

Non-commuter passengers FY2020 160.0 Passengers: 129.5 Evening population: 147.6

140.0

FY1976=100 Evening population along the Odakyu line 120.0

100.0

1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 ＜Sources ＞ FY Evening population along Odakyu lines (Tokyo): “Tokyo Statistical Yearbook” (Kanagawa): “Population Statistical Survey by Age Group”

Overview by Segment (Transportation)

■ Overview of Odakyu Group Bus Services

*Data are totals for all Group companies, including equity method

affiliates (including highway bus services)

Tachikawa Bus

Kanagawa Chuo Kotsu Odakyu Bus Number of buses 3,433 vehicles ＊Aug. 2020

Total route length 6,663 km ＊Aug. 2020

Passengers carried 279,756 thousand people Enoden Bus thousand people 400,000 Hakone Tozan Bus

350,000

300,000

250,000 Tokai Group

200,000 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 FY

■ Overview of Department Stores and Supermarkets

Department Stores Supermarkets Shinjuku store “Odakyu OX” Mitakadai store

●

Kurihira

28 stores in the area along the Odakyu Line

● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●

Odawara Shibusawa Hadano Isehara Zama Sobudai-mae SagamiharaOdakyu Sagami-Ono Machida Tamagawagakuen-mae Tsurukawa Shin-Yurigaoka Yomiuri-Land-mae Ikuta Mukogaoka-yuen Komae Seijogakuen-mae Soshigaya-Okura Chitose-Funabashi Kyodo Umegaoka Yoyogi-Uehara Shinjuku

● ● ● ● ● Department Stores Katase-Enoshima Fujisawa Chogo Yamato Minami-Rinkan Machida store

Overview by Segment (Real Estate)

■ Main Lease Buildings Held by Odakyu Electric Railway

Place Rentable space Odakyu Dai-ichi Seimei Building Shinjuku Approx. 46,000㎡ Odakyu Southern Tower Shinjuku Approx. 47,000㎡ Odakyu Dai-ichi Seimei Building Odakyu Southern Tower

Place Rentable space HALC Shinjuku Approx. 26,000㎡

Flags Shinjuku Approx. 9,500㎡ HALC Shinjuku Mylord Shinjuku Mylord Shinjuku Approx. 8,700㎡

Kyodo Corty Kyodo Approx. 7,500㎡

Seijo Corty Seijogakuen-mae Approx. 7,900㎡

Shin-Yurigaoka L-Mylord Shin-Yurigaoka Approx. 40,000㎡

Sagami-Ono Station Square Sagami-Ono Approx. 41,000㎡ Sagami-Ono Station Square Shin-Yurigaoka L-Mylord

Vina Walk Ebina Approx. 69,000㎡

Hon-Atsugi Mylord Hon-Atsugi Approx. 21,000㎡

Vina Walk Hon-Atsugi Mylord 14 14 Copyright 2021 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Ⅰ. Company Profile Ⅱ. Business Areas Ⅲ. Other Information Ⅳ. Financial Data Overview by Segment (Other Businesses)

■ Development of the Odakyu Group’s Hotels

*Includes hotels that are not included in the Other Businesses segment, and also includes hotels belonging to non-consolidated affiliates.

Kyoto Guest Name of hotel Rooms

Tokyo HYATT REGENCY TOKYO 746 Okinawa (Shinjuku) HOTEL CENTURY SOUTHERN TOWER 375 HOTEL DE YAMA 89 Kanagawa HAKONE Overseas hotel 74 (Hakone) HIGHLAND HOTEL • MUJI HOTEL BEIJING (Beijing, China) • HOTEL ANTEROOM SEOUL（Korea,Seoul） HOTEL HATSUHANA 47 15 15 Copyright 2021 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Ⅰ. Company Profile Ⅱ. Business Areas Ⅲ. Other Information Ⅳ. Financial Data

Initiatives along the Odakyu Line

● ● ● ● ● ● ●

Kurokawa Kurihira Satsukidai ■ Major Initiatives Karakida Tama Center Nagayama Haruhino Shinjuku Station West Exit area redevelopment (Starting from FY2022 or later) Multiple double track section P17 Development plan for the district (10.4km) ● : Station handling over 100,000 between stations in Ebina passengers per day on average P21

● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●

Minami-Shinjuku Shinjuku Yoyogi-Uehara Yoyogi-Hachiman Sangubashi Umegaoka Setagaya-Daita Shimo-Kitazawa Higashi-Kitazawa Soshigaya-Okura Chitose-Funabashi Kyodo Gotokuji Izumi-Tamagawa Komae Kitami Seijogakuen-mae Yomiuri-Land-mae Ikuta Mukogaoka-yuen Noborito Kakio Shin-Yurigaoka Yurigaoka Sagami-Ono Machida Tamagawagakuen-mae Tsurukawa Zama Sobudai-mae SagamiharaOdakyu Aiko-Ishida Hon-Atsugi Atsugi Ebina Hadano Tokaidaigaku-mae Tsurumaki-onsen Isehara Kayama Kaisei Shin-Matsuda Shibusawa Odawara Ashigara Hotaruda Tomizu

● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● 30km from 20km from 10km from Chiyoda Line

Tsuruma Minami-Rinkan Chuo-Rinkan Higashi-Rinkan Chogo Koza-Shibuya Sakuragaoka Yamato Fujisawa-Hommachi Zengyo Mutsuai-Nichidai-mae Shonandai Katase-Enoshima Kugenuma-Kaigan Hon-Kugenuma Fujisawa Shinjuku Shinjuku Shinjuku

Utilization of the former Mukogaoka- Yuen Amusement Park site P20 Shimo-Kitazawa district aboveground development 50km from 40km from P19 Shinjuku Shinjuku

HOSHI NO TANI DANCHI NODE GROWTH SHONANDAI CAFÉ ＆ SPACE L. D. K. Activities base for the Yomiuri Nippon (Zama) (Shonandai) (Kurihira) Symphony Orchestra (Kurokawa)

■ Shinjuku West Gate Redevelopment ＜Recent Movements＞ The Odakyu and Tokyo Metro Co., Ltd. development plan was recognized as a National ● Odakyu’s Maintenance Policy Strategic Special Zone (March 2021) (1) Implement fundamental maintenance to realize the Shinjuku Grand Terminal ＜Overview of Planned Building＞ (2) Introduce urban features that help enhance international competitiveness

(3) Strengthen disaster-prevention functions and reduce environmental burden

● Vicinity map

East Exit Plaza

Seibu Shinjuku Line Marunouchi Line Seibu Shinjuku Sta. Shinjuku Sta.

Oedo Line Shinjuku-Nishiguchi Sta. Oedo Line Shinjuku Line Shinjuku Sta. Operating body Odakyu Electric Railway Co., Ltd., Tokyo Metro Co., Ltd. West Exit Plaza Main use Commercial, business, and railway station facility Number of stories 48 aboveground, 5 belowground

Shinjuku-Fukutoshin Route 4 Maximum height Approx. 260 m Start of construction FY2022 (scheduled) Building site Special district for urban revitalization Completion of construction FY2029 (scheduled)

＜Reference: Trends of Tokyo Metropolitan, Shinjuku Ward, and Other Administrative Agencies＞ A next-generation terminal that organically integrates station, station plaza, 2017 Formulation of “New Shinjuku Urban Development and station buildings, etc. Creating a space that everyone will find relaxing and user-friendly, and which is —Creating a Center for Shinjuku for the 2040s” closely linked with the surrounding urban area; supporting the diverse activities of people visiting the terminal for different purposes, to make this a place that 2018 Formulation of “Shinjuku Center for Redevelopment Policy” generates interaction, collaboration, and new pursuits. 2019 Formulation of “Shinjuku Grand Terminal Design Policy 2019”

Initiatives in the Shinjuku area

■ Odakyu Properties in the Vicinity of Shinjuku Station

Flags Shinjuku Mylord Odakyu HALC Odakyu department store (Main Store) Opened:1998 Opened:1984 Opened:1962 Opened:1967(Main Store) Rentable space: Approx. 9,500㎡ Rentable space: Approx. 8,700㎡ Rentable space: Approx. 26,000㎡ Rentable space: Approx. 61,000㎡ Acquired in 2000

Odakyu Southern Tower Opened:1998 Rentable space: Approx. 47,000 ㎡

Odakyu Ace Opened:1966 Rentable space: Approx. 3,500㎡ South gate

Shinjuku Nishi Building Opened:1965 HYATT REGENCY TOKYO Rentable space: Approx. 2,500㎡ Opened:1980 Acquired in 2016 Rentable space: West gate Approx. 87,000 ㎡

The site of the former Odakyu Dai-ichi Seimei Shinjuku Subaru Building Building Land area:Approx. 1,600㎡ Opened:1980 Rentable space: Approx. 46,000㎡ Acquired in 2007

Initiatives in the Shimo-Kitazawa area

■ Plan to Use the Space above the Tracks in the Shimo-Kitazawa Area

Development concept: “BE YOU. Like Shimokita. Like myself.” Aboveground land area*: 27,500㎡ (excluding crossroads and railway facilities) at former railway facility site  Taking into account the different characteristics of the areas around each station, Odakyu is working to create

a group of 13 distinctive facilities in a development zone that stretches for 1.7 kilometers, working together with

local people to realize community development (improvement work is scheduled to be completed by FY2021*)

*With some exceptions.

Complex Rental housing Nursery school Student dormitory Commercial facility Accommodation

Store/Office

Shimo-Kitazawa Sta. Higashi-Kitazawa Sta.

Combined stores and housing/commercial facilities Commercial facility Event space Commercial facility Commercial facility (Existing Accommodation businesses)

(Future businesses)

Initiatives in the Mukogaoka-Yuen area

■ Plan for Utilizing the Site of the Former Mukogaoka-Yuen Amusement Park

Development concept: “Hills where the balance between people and nature is restored”

• The entire site is divided into three zones, the commercial facilities area, the sauna baths area, and the nature experience area, and creates special spaces and experiences that allow people to enjoy familiar leisure activities and feel a bit of the extraordinary. • In addition, this site will serve as a hub that connects the abundant natural, cultural, artistic, and educational assets that already exist in the community, as well as providing the community with new added value.

Mukogaoka-Yuen Sta. Fuchu-kaido Ave.

Fujiko F. Fujio Museum

Sauna baths Nature experience 自然体験エリア area area 25,600㎡ 39,300㎡

④ ③ Ikuta Commercial facilities Ryokuchi area Rose 29,900㎡ Garden

Development site area:Approx. 162,700m2

Initiatives in the Ebina area

■ Development Plan of the District between Stations in Ebina Development concept: ViNA GARDENS — Relax, Live, Cultivate

Overall schedule 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

①Convenience store opened Site area ： Approx. 35,000 ㎡ ②Commercial facilities, TERRACE opened

Floor area ： Approx. 175,000 ㎡ ③Condominium completion (delivery: Late January 2020) ④Condominium (Planned delivery: Late January 2021) Investment ： Approx. 32.2 billion yen Amount (Odakyu Electric Railway portion) ⑤Offices(Scheduled to open in spring of 2022) ⑥Service facilities (Scheduled to open in the first half of FY2022)

Residential Area Prosperity Creation Area

JR Ebina Station

⑥Service facilities (Figure） Residential Already Condominium facilities completed ⑤ Service ② facilities (2nd phase) ④ ③ ①

⑦ROMANCECAR MUSEUM （delivery: Late April 2021） Odakyu Ebina Station Note: this does not include development plans ⑦ for the district between stations in Ebina

＜Capital investment in recent years (selected projects) ＞ ② • 2007 Ropeway renewal • 2009 Hakone-Yumoto Station renewal • 2013 Sightseeing boat “Royal II” Hot spring facilities for day trippers • 2014 Hakone Tozan Railway Introduction of New train debut Odawara Hakone Highland Hotel grand renewal • 2015 Hotel De Yama renewal • 2019 The new Pirate Ship QUEEN ASHINOKO has entered service The Hakone Yutowa, a new hotel located in Gora, has opened Hakone-Yumoto The HOTEL CLAD a new hotel located in Gotemba, ③ has opened • 2020 Rebuilding and renovation of Sounzan Station

① Major Hakone area hotels ① Hotel de Yama ② Hakone Highland Hotel ③ Hotel Hatsuhana

＜Expanding service provision (selected projects) ＞ Number of tourists visiting Hakone (thousands) Number of Hakone Freepasses sold (thousands) 950 958 • 2014 Station numbering start 25,000 873 1,000 756 795 • 2014 Odakyu Free Wi-Fi introduction 20,000 702 702 800• 2016 Renewal of Fuji Hakone Pass 610 • 2017 Introduction of Hakone Kamakura Pass 15,000 564 600 475 • 2019 Strengthening of multi-lingual information media 10,000 400 capabilities Bus location system adoption 5,000 200 • 2020 Launch of digital Hakone Freepass 20,036 17,671 19,438 20,857 21,190 17,376 19,565 21,520 21,260 18,960 0 0 Renewal of digital displays for service status information 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Source: “Number of tourists visiting Hakone” on the Hakone Town municipal website.

ESG Data

■ Environment *For more details, please see the “Environmental Report” on the Odakyu website

The Odakyu Group aims to realize its Group Management Principle by achieving ● Trend in greenhouse gas emissions (Unit: t-CO2) sustainable development together with society as a whole, through further *CO2 emissions relating to electric power usage are calculated based on the CO2 contributions towards the realization of the low-carbon society and the recycling emissions coefficients specified in Japan’s Act on the Rational Use of Energy (Energy society, and through activities that foster harmonious coexistence with nature. Conservation Act) and Act on Promotion of Global Warming Countermeasures. 250,000 Environmental Vision Transportation services Lifestyle creation and 211,000 210,000 Head Office The Odakyu Group strives to realize environmentally-friendly business activities, and 200,000 187,000 188,000 contributes to the realization of better lifestyles through the provision of products and 182,000 183,000 services that are beneficial to both people and the planet. 178,000

150,000 132,752 123,456 117,563 114,135 Individual Strategies 110,619 107,113 111,233 100,000 Strategy 1: Expanding our range of environmentally-friendly products and services 2013 2014 2015 2016 2017 2018 2019 FY Strategy 2: Providing an easy-to-use transportation network Strategy 3: Providing tourism services that enable people to enjoy nature Strategy 4: Reducing the environmental impact of our business activities Strategy 5: Safeguarding the environment in the area along the Odakyu Line (For reference) Electric power usage per km traveled by train— Targets and reductions achieved (Unit: kWh/car/km) △11.0％ △16.0％ △26.0％（Target）（Target）（Target）＜Our targets（FY2021～FY2023）＞＊selected items Transportation services • Reduce electric power usage per unit of distance traveled by at least 16% compared to FY2013 • Implement measures to reduce noise and vibration caused by vehicle movement 2.257 2.191 Lifestyle creation 1.971 1.950 1.836 1.621 • Reduce per unit energy consumption by at least 16% compared to FY2013 • Strive to implement effective monitoring of the amount of waste generated, 2010 2013 2019 2020 2023 2030 and implement waste reduction measures FY Copyright 2018 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. 23 Copyright 2021 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Ⅰ. Company Profile Ⅱ. Business Areas Ⅲ. Other Information Ⅳ. Financial Data

ESG Data

■ Society *For more details, please see the “Diversity and Inclusion Report” on the Odakyu website Based on a foundation of health management and work-life balance, we will realize cultural reform and raise awareness by creating a synergy between diversity, work style reform, and human resource development, which will lead to the creation of new value and innovation for each individual employee.

 Measures aimed at promoting women’s participation and advancement, and at creating a more employee-friendly working environment FY FY FY Item Target FY 2018 2019 2020

Realization of the management principle 2013 Number of female Number of Manager level 4people 10people 13people 14people (head office division)

managers （1.7%）（3.8%）（4.8%）（5.3%） Increase to more Cultural reform Awareness raising Assistant Manager than double the level 15people 25people 27people 32people level (head office division) at the end of FY2013 （3.0%）（4.6%）（4.8%）（5.7%） by FY2025 Chief level ＊1 28people 41people 46people 43people Personnel evaluation (on-site division) （1.5%）（2.2%）（2.5%）（2.4%） Diversity Human resource development Female employees as percentage of Increase to 10% by FY2025 8.9％ 9.4% 9.4% all regular employees

Percentage of male employees Increase to more than double 15.0％ー＊2 ー＊2 taking paternity leave the level at FY2013 by FY2025 Work style reform Percentage of female employees taking maternity leave who return to ー 100.0％ 100.0％ 100.0％ work afterwards

A foundation of excitement Percentage of employees taking ー 97.8％ 94.5％ー＊3 spousal childbirth leave Health management Work-life balance Percentage of employees taking ー 88.5％ 88.2% 86.0% annual paid leave

*1：The figure in parentheses is the percentage of female managers Diversity & Inclusion Promotion system among all managers. *2：To be determined at the end of the next two years *3：To be determined at the end of the june next year Copyright 2018 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. 24 Copyright 2021 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Ⅰ. Company Profile Ⅱ. Business Areas Ⅲ. Other Information Ⅳ. Financial Data

ESG Data

■ Governance

General Meeting of Shareholders  Odakyu has adopted the Audit & Supervisory Board Members System. Elect Elect Audit  The Board of Directors (which met 13 times in FY2020) comprises Elect 13Directors, including four Outside Directors. note:Candidates for the June 2021 General Meeting of Shareholders Board of Directors Nomination and Remuneration

Members) comprise 12 Directors (including four Outside Directors) (Outside Directors) Advisory Committee

Board of Group Company Presidents  The Audit & Supervisory Board (which met 10 times in FY2020) comprises Audit Elect/Oversee five Audit & Supervisory Board Members, including three Outside Audit & Management Meetings

Representative Supervisory Board Members. Supervisory Board Supervisory Directors Internal Control Committee

 The Executive Officer system was adopted in order to strengthen the Audit & & Audit

Audit & Supervisory Board Supervisory & Audit Risk Management supervisory function in relation to the execution of the duties of the Board of Board of Executive Committee Directors, and to optimize corporate decision-making. (Outside Audit Officers Compliance hotline  A Nomination and Remuneration Advisory Committee* (more than half of the members of which are Outside Directors) has been established as an

Each business segment advisory body to the Board of Directors, to strengthen the independence, Group Companies Group Accounting Auditors Accounting Transport service business objectivity and accountability of the functioning of the Board of Directors in

Advise Audit headquarters relation to the nomination of directors and auditors, directors’ remuneration,

Lawyers Accountants/ Audit Office Life creation business etc. headquarters Audit General administrative *Nomination and Remuneration Advisory Committee Corporate Corporate department, etc. The committee deliberates on such matters as basic policy for

Corporate Tax Corporate nominations and remuneration, and drafts proposals for the General Audit Meeting of Shareholders, reporting the results to the Board of Directors.

Copyright 2018 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. 25 Copyright 2021 Odakyu Electric Railway Co.,Ltd. All Rights Reserved. Ⅰ. Company Profile Ⅱ. Business Areas Ⅲ. Other Information Ⅳ. Financial Data

Price Performance Chart

■ Change in Stock Price (Odakyu Electric Railway Co., Ltd.) and the TOPIX Index

Index yen 300.0 3,636 April 2005–March 2021 TOPIX Odakyu 3,030 250.0 3,025

200.0 2,424

150.0 1,818

100.0 1,212

50.0 606 4/2005 4/2006 4/2007 4/2008 4/2009 4/2010 4/2011 4/2012 4/2013 4/2014 4/2015 4/2016 4/2017 4/2018 4/2019 4/2020 3/2021

The Company’s share price has been retroactively adjusted to reflect the reverse stock split.

Dividend Policy

■ Dividend Payout Ratio (FY2013–)

• The Company intends to use internal reserves for vigorous investment in the priority fields and the growth fields in an effort to improve financial performance.

• The Company’s basic policy for returning profits to shareholders is to maintain stable dividend payment as a result of improved performance with a dividend payout ratio of approx.30%.

＜Dividend per share＞ Note: Dividend per share figures for FY2016 and prior years reflect the impact of a reverse stock split. （Unit: yen）

10.0 12.0 12.0 13.0 13.0 14.0 15.0 16.0 17.0 18.0 19.0 20.0 21.0 21.0 10.0

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 (FY)

Outline of Employees

■ Trends in Number of Employees ■ Number of Employees (Non-Consolidated basis as of March 31, 2021) 13,960

3,760 （people）（Male: 3,408 Female: 352）（people）（age） 4,000 15,000 Ave. years of service 19.3 years 55～ 363 3,900 （Male: 20.2 years Female: 10.7 years） 14,500

50～54 606 3,800 14,000

3,700 13,500 45～49 641

3,600 13,000 40～44 395

3,500 12,500 35～39 393

3,400 12,000 30～34 428 3,300 11,500 25～29 439 3,200 11,000 20～24 431 3,100 10,500

～ 3,000 10,000 19 64

0 100 200 300 400 500 600 700 800 Non-Consolidated Consolidated （people）

Financial Data

* Financial data in Excel format for the period from FY2004 onwards can be found on the Odakyu website: （https://www.odakyu.jp/ir/financial/factbook/）

Key Consolidated Financial Indicators

＊ Financial data in Excel format for the period from FY2004 onwards can be found on the Odakyu website: （Millions of yen） 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3 Operating results-related Revenue from operations 508,332 515,223 523,187 518,715 529,812 523,031 524,660 526,675 534,132 385,978 Operating income 38,631 44,119 49,377 49,858 52,934 49,946 51,464 52,089 41,103 △ 24,190 Ordinary income 28,659 36,365 42,061 44,098 45,695 46,638 47,891 49,687 38,299 △ 31,223 Income before income taxes 29,979 30,319 39,003 47,258 42,575 39,711 43,940 45,194 35,998 △ 41,261 Net income attributable to owners of parent 17,837 19,674 25,048 30,147 27,497 26,067 29,328*5 32,468 19,923 △ 39,804 Comprehensive income 19,361 29,691 27,752 50,028 15,503 28,471 33,333*5 30,279 8,855 △ 34,078 Capital investments 80,767 53,357 46,920 54,612 59,619 74,805 68,288 82,215 91,599 62,943 Depreciation 55,410 50,424 48,651 46,691 47,307 46,936 45,347 46,727 49,628 51,258 EBITDA *1 94,041 94,543 98,028 96,549 100,242 96,883 96,811 98,817 90,731 26,355

Cash flow-related Cash flows from operating activities 77,899 71,483 73,638 71,126 78,702 79,494 85,394 72,733 74,897 27,178 Cash flows from investing activities △ 70,226 △ 34,748 △ 23,050 △ 43,194 △ 49,276 △ 67,053 △ 52,681 △ 80,094 △ 85,454 △ 43,582 Cash flows from financing activities 359 △ 37,771 △ 50,052 △ 38,997 △ 21,473 △ 20,473 △ 8,099 △ 15,083 17,171 37,207 Net increase (decrease) in cash and cash equivalents 8,032 △ 1,036 534 △ 11,066 7,953 △ 8,032 24,613 △ 22,444 6,613 20,803 Cash and cash equivalents at end of the year 30,897 29,860 30,438 19,371 27,326 19,293 43,907 21,636 28,464 49,267 FCF *2 7,672 36,734 50,587 27,931 29,426 12,441 32,712 △ 7,361 △ 10,557 △ 16,403

Balance sheet-related *5 Net assets 221,603 245,545 267,573 308,209 317,023 338,703 366,577 389,180 390,183 352,456 Shareholders' equity 206,834 220,940 238,683 259,677 280,609 299,987 322,157*5 346,997 363,053 319,609 Total assets 1,311,185 1,264,501 1,244,344 1,253,849 1,257,332 1,270,102 1,294,498*5 1,312,433 1,328,303 1,326,996 Interest-bearing debt 794,240 806,358 762,854 730,375 715,876 702,578 719,197 715,293 741,027 782,822

Per share information-related*3 *5 Net assets per share (Yen) 303.15 336.05 366.32 422.33 433.93 927.30 998.68 1,061.37 1,066.01 963.40 Dividend amount per share (Yen) 7.0 7.5 8.0 8.5 9.0 19.0 20.0 21.0 21.0 10.0 *5 Net income per share (Yen) 24.71 27.26 34.72 41.80 38.14 72.31 81.36 90.11 55.08 △ 109.60 Diluted net income per share (Yen) *4 ------

Key Consolidated Financial Indicators

＊ Financial data in Excel format for the period from FY2004 onwards can be found on the Odakyu website: （Millions of yen） 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3 Financial indicator-related Ratio of operating income to revenue from operations (%) 7.6 8.6 9.4 9.6 10.0 9.5 9.8 9.9 7.7 △ 6.3 *5 ROA (Ratio of operating income to total assets) (%) *6 3.0 3.5 4.1 4.1 4.4 4.1 4.2 4.2 3.2 △ 1.9 ROE (Ratio of net income to shareholders' equity) (%) *7 8.9 9.2 10.9 11.9 10.1 9.0 9.4*5 9.7 5.6 △ 11.6 Interest-bearing debt/EBITDA ratio (times) 8.4 8.5 7.8 7.6 7.1 7.3 7.4 7.2 8.2 29.7 Shareholders' equity ratio (%) 16.7 19.2 21.2 24.3 24.9 26.3 27.8*5 29.1 29.1 26.4 D/E ratio (debt-to-equity ratio) (times) *8 3.8 3.6 3.2 2.8 2.6 2.3 2.2*5 2.1 2.0 2.4 Interest coverage ratio (times) *9 7.0 7.1 7.8 8.4 10.0 11.1 13.3 12.3 14.0 5.0 PER (price-to-earnings ratio) (%) 31.6 43.0 25.6 29.3 32.1 30.0 26.5*5 29.8 43.1 - Consolidated dividend payout ratio (%) 28.3 27.5 23.0 20.3 23.6 26.3 24.6*5 23.3 38.1 - DOE (dividend on equity ratio) (%) *10 2.5 2.5 2.5 2.5 2.4 2.4 2.3*5 2.2 2.2 1.1

Other Total number of issued shares (shares)*3 736,995,435 736,995,435 736,995,435 736,995,435 736,995,435 368,497,717 368,497,717 368,497,717 368,497,717 368,497,717 Number of employees (consolidated) (persons) 13,335 13,164 13,221 13,226 13,283 13,560 13,914 13,938 14,019 13,960 Number of employees (non-consolidated) (persons) 3,609 3,613 3,628 3,593 3,593 3,637 3,726 3,792 3,847 3,760 *1 EBITDA = Operating income + Depreciation *2 Free cash flow = Cash flow from operating activities + Cash flow from investing activities *3 The Company implemented a 1-for-2 reverse stock split with an effective date of October 1, 2016. *4 Not presented as there are no dilutive shares Accompanying the application of “Partial Amendments to Accounting Standard for Tax Effect Accounting, etc.” *5 (ASBJ Statement No. 28, February 16, 2018), the figures as of the end of FY2017 have been restated. *6 ROA = Operating income / Total assets (average of the start and end of the fiscal year; excluding net unrealized gain on securities) *7 ROE = Net income attributable to owners of parent / Net assets (average of the start and end of the fiscal year; excluding net unrealized gain on securities) *8 D/E ratio = Interest-bearing debt / Shareholders' equity *9 Interest coverage ratio = Operating cash flow / Interest paid *10 DOE = Annual dividend payout / Shareholders’ equity (average of the start and end of the fiscal year)

Consolidated Balance Sheets

＊ Financial data in Excel format for the period from FY2004 onwards can be found on the Odakyu website: （Millions of yen） 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3 Current assets 131,603 130,849 137,692 127,843 133,560 125,691 145,468* 129,601 131,791 146,692 Cash and time deposits 30,994 29,955 30,532 19,466 27,394 19,361 44,013 21,762 28,594 49,397 Notes and accounts receivable 19,603 20,188 22,189 22,488 23,894 22,957 24,070 25,788 22,622 20,134 Lease receivables and lease investment assets 1,116 941 1,213 1,131 1,481 1,509 1,413 1,292 1,144 1,001 Marketable securities 10 10 10 ------Inventories ------Merchandise and finished goods 11,014 10,710 10,132 9,665 9,597 9,256 7,825 6,502 6,278 5,770 Real estate developments for sale 37,224 34,115 35,258 37,311 32,673 33,332 30,300 32,855 31,003 29,817 Work in process 451 386 624 1,310 967 788 1,024 849 1,139 1,002 Raw materials and supplies 1,649 1,698 1,847 1,912 1,917 1,923 2,057 2,246 2,182 2,282 Deferred tax assets 5,148 5,481 5,403 5,290 6,164 5,326 - - - - Other 24,618 27,561 30,597 29,359 29,549 31,299 34,830 38,405 39,036 37,646 Allowance for doubtful accounts △ 227 △ 198 △ 117 △ 91 △ 80 △ 65 △ 68 △ 100 △ 210 △ 358 Noncurrent assets 1,179,581 1,133,651 1,106,652 1,126,005 1,123,771 1,144,411 1,149,029* 1,182,831 1,196,512 1,180,304 Property and equipment 1,092,855 1,033,326 1,004,966 1,003,514 1,004,861 1,024,779 1,021,700 * 1,041,686 1,070,368 1,059,096 Buildings and structures, net 462,559 489,294 474,846 474,468 467,359 458,947 477,160 489,212 500,474 484,778 Machinery , equipment, rolling stock, and other v ehicles, net 60,303 56,145 50,340 48,295 49,685 49,061 51,379 51,312 55,353 57,323 Land 422,584 446,509 430,618 431,905 432,649 450,089 457,387 462,178 468,022 472,084 Lease assets, net 1,643 1,780 1,481 1,260 1,026 1,469 1,194 1,042 1,282 1,083 Construction in progress 136,413 31,031 39,145 38,575 45,403 57,083 25,638 26,517 31,858 33,167 Other, net 9,350 8,564 8,534 9,008 8,735 8,128 8,939 11,423 13,377 10,659 Intangible fixed assets 14,040 12,761 11,991 14,092 14,744 14,555 15,931 24,155 24,208 23,544 Goodwill 857 97 53 1,205 1,126 1,041 1,866 3,856 2,157 1,654 Consolidated adjustment account ------Lease assets 167 161 159 204 162 164 174 198 241 216 Other 13,015 12,501 11,779 12,683 13,454 13,349 13,889 20,100 21,810 21,673 Investments and other assets 72,685 87,564 89,693 108,399 104,165 105,076 111,397* 116,990 101,935 97,662 Investment securities 47,558 62,857 67,191 86,066 80,977 82,475 86,889 91,613 78,093 74,325 Long-term loans receivable 122 349 317 359 467 496 715 1,021 1,578 2,470 Deferred tax assets 5,544 6,100 5,945 6,300 6,023 5,881 8,191* 9,292 6,828 5,955 Deferred tax assets related to land revaluation ------Other 20,208 18,989 16,926 16,567 17,621 17,380 16,505 16,044 16,557 16,271 Allowance for doubtful accounts △ 748 △ 731 △ 687 △ 894 △ 924 △ 1,157 △ 903 △ 981 △ 1,123 △ 1,359 Total assets 1,311,185 1,264,501 1,244,344 1,253,849 1,257,332 1,270,102 1,294,498 * 1,312,433 1,328,303 1,326,996

Consolidated Balance Sheets

＊ Financial data in Excel format for the period from FY2004 onwards can be found on the Odakyu website: （Millions of yen） 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3 Current liabilities 443,075 399,475 365,820 382,394 383,976 368,307 388,091* 383,386 377,494 339,704 Notes and accounts payable 26,202 27,433 28,244 29,249 28,769 28,542 30,169 25,865 23,706 19,664 Short-term loans 223,395 195,996 179,752 191,228 185,583 181,681 198,929 201,440 203,932 182,428 Current portion of long-term corporate bonds 45,000 70,000 40,000 45,000 50,000 35,000 40,000 30,040 30,025 20,010 Current portion of lease obligations 1,567 1,324 1,440 1,422 1,810 1,694 1,511 1,294 1,200 1,061 Income taxes payable 10,766 9,106 9,931 8,431 6,914 6,998 8,353 7,037 5,732 6,311 Advances received 46,584 3,535 5,864 7,037 11,139 15,360 4,618 3,050 2,682 3,095 Deferred tax liabilities 0 0 0 0 0 0 - - - - Provision for bonus 7,210 7,288 7,404 7,133 7,521 7,385 7,673 8,124 8,212 6,868 Allow ance for unredeemed gift certificates and others 727 798 801 740 1,249 1,314 1,380 1,370 1,436 1,582 Provision for loss on disaster ------1,447 89 Asset retirement obligation 17 5 - 36 4 7 27 2 16 - Other current liabilities 81,604 83,984 92,379 92,114 90,983 90,323 95,426 105,161 99,102 98,593 Long-term liabilities 632,405 610,080 606,250 563,245 556,331 563,090 539,829* 539,866 560,626 634,835 Long-term bonds 195,000 165,000 165,000 145,000 135,000 130,000 140,000 150,050 185,025 247,015 Long-term loans 224,482 233,755 246,841 228,452 234,450 255,054 232,544 229,038 223,430 253,720 Long-term liabilities incurred for purchase of railway transport facilities 97,768 131,352 120,812 110,963 100,964 90,747 96,874 88,660 79,671 70,603 Lease obligations 1,305 1,491 1,229 956 647 1,282 1,063 922 1,157 1,109 Deferred tax liabilities 5,668 7,117 6,988 13,964 9,372 10,327 9,736* 11,171 8,856 7,835 Deferred tax liabilities related to land revaluation 1,269 1,248 1,245 1,064 959 954 954 954 954 954 Provision for retirement benefits 24,495 23,021 ------Net defined benefit liabilities - - 19,954 15,177 24,110 20,704 18,657 18,185 19,952 13,600 Asset retirement obligation 1,329 1,349 1,343 1,323 1,374 1,366 1,116 1,361 1,721 1,688 Provision for directors' retirement benefits ------Long-term construction contract advances received 33,382 - 1,815 5,572 9,507 12,910 - - - - Other 47,702 45,743 41,020 40,770 39,943 39,743 38,883 39,521 39,857 38,308 Reserves under the special laws 14,100 9,400 4,700 ------Special reserve for expansion of railway transport facilities 14,100 9,400 4,700 ------Total liabilities 1,089,581 1,018,956 976,770 945,639 940,308 931,398 927,920 923,253 938,120 974,539

Consolidated Balance Sheets

＊ Financial data in Excel format for the period from FY2004 onwards can be found on the Odakyu website: （Millions of yen） 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3 Shareholders' equity 206,834 220,940 238,683 259,677 280,609 299,987 322,157 * 346,997 363,053 319,609 Common stock 60,359 60,359 60,359 60,359 60,359 60,359 60,359 60,359 60,359 60,359 Capital surplus 58,555 58,548 58,540 58,535 58,536 58,418 58,422 58,472 57,901 57,900 * Retained earnings 97,672 111,935 129,929 151,126 172,192 191,736 213,927 239,148 251,313 207,852 Treasury stock, at cost △ 9,752 △ 9,903 △ 10,145 △ 10,345 △ 10,479 △ 10,527 △ 10,552 △ 10,982 △ 6,520 △ 6,503 Accumulated other comprehensive income 11,978 21,554 25,544 44,855 32,239 34,274 37,932 35,385 24,080 30,269 Net unrealized gain on securities, net of taxes 12,568 22,173 24,559 38,894 34,656 33,978 36,198 33,875 24,410 26,479 Reserve for land revaluation △ 589 △ 618 633 578 543 548 548 548 548 548 Remeasurements of defined benefit plans - - 351 5,382 △ 2,960 △ 252 1,185 961 △ 878 3,241 Non-controlling interests 2,789 3,051 3,345 3,677 4,175 4,440 6,487 6,796 3,049 2,578 * Total net assets 221,603 245,545 267,573 308,209 317,023 338,703 366,577 389,180 390,183 352,456 Total net assets and net assets 1,311,185 1,264,501 1,244,344 1,253,849 1,257,332 1,270,102 1,294,498 * 1,312,433 1,328,303 1,326,996 Accompanying the application of “Partial Amendments to Accounting Standard for Tax Effect Accounting, etc.” * (ASBJ Statement No. 28, February 16, 2018), the figures as of the end of FY2017 have been restated.

Consolidated Statements of Income

＊ Financial data in Excel format for the period from FY2004 onwards can be found on the Odakyu website: （Millions of yen） 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3 Revenue from operations 508,332 515,223 523,187 518,715 529,812 523,031 524,660 526,675 534,132 385,978 Operating expenses 469,701 471,104 473,810 468,856 476,877 473,085 473,195 474,586 493,029 410,168 Operating expenses and cost of sales of transportation 385,841 388,943 392,086 386,253 391,682 386,003 386,271 384,982 396,761 328,933 Selling, general and administrative expenses 83,860 82,161 81,723 82,603 85,195 87,081 86,923 89,603 96,267 81,235 Operating income 38,631 44,119 49,377 49,858 52,934 49,946 51,464 52,089 41,103 △ 24,190 Non-operating income 3,544 4,096 4,190 4,509 4,475 6,009 5,065 5,061 4,523 4,111 Interest income 21 23 22 25 20 11 7 11 12 23 Dividends income 1,046 1,054 1,180 1,276 1,399 1,552 1,697 1,759 1,766 1,589 Gain on sales of marketable securities ------Equity in earnings of affiliates 661 1,169 882 1,064 1,087 1,224 1,296 1,274 830 - Loss compensation charge received ------Rezoning project adjustment amount received ------Gain on reversal of environmental expenses ------Settlement received - - - - - 811 - - - - Miscellaneous income 1,814 1,849 2,106 2,142 1,967 2,409 2,064 2,015 1,913 2,498 Non-operating expenses 13,515 11,850 11,506 10,269 11,714 9,317 8,638 7,463 7,327 11,144 Interest expenses 11,112 10,003 9,342 8,357 7,898 7,016 6,445 5,828 5,372 5,396 Compensation for transfer - - - 168 1,872 - - - - 3,398 Miscellaneous expenses 2,403 1,846 2,163 1,742 1,943 2,301 2,192 1,634 1,954 2,349 Ordinary income 28,659 36,365 42,061 44,098 45,695 46,638 47,891 49,687 38,299 △ 31,223

Consolidated Statements of Income

＊ Financial data in Excel format for the period from FY2004 onwards can be found on the Odakyu website: （Millions of yen） 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3 Extraordinary income 6,420 60,673 9,217 9,449 3,458 1,683 20,102 4,016 6,315 14,153 Gain on sale of property and equipment 564 3,303 382 310 155 141 1,778 1,764 4,708 1,132 Construction costs allotted to and received from others 268 52,372 3,784 2,881 1,424 1,339 18,308 2,028 1,178 2,866 Reversal of special reserve for expansion of railway transport facilities 4,700 4,700 4,700 4,700 ------Gain on sales of investment securities - - - 130 1,372 190 - - 5 6,304 Gain on sales of stocks of subsidiaries and affiliates - - - 1,150 ------Subsidy income ------3,609 Other 886 297 350 278 506 11 15 223 423 240 Extraordinary losses 5,100 66,719 12,276 6,288 6,578 8,610 24,053 8,509 8,616 24,191 Loss on prior period adjustment ------Loss on sale of property and equipment 31 301 5,208 586 87 37 36 57 97 127 Loss on deduction of property and equipment 1,078 52,347 3,784 2,600 1,389 1,219 17,578 2,021 1,156 954 Loss on disposal of property and equipment 2,099 2,264 2,342 1,916 2,545 1,806 1,643 4,756 1,934 1,113 Loss on impairment of fixed assets 1,189 11,402 845 844 2,450 5,380 929 1,133 2,351 15,751 Special retirement payments ------2,944 - - 2,205 in provision for loss on disaster ------1,447 86 assignment of accounts receivable ------1,230 - Non-recurring loss ------2,587 Other 700 403 95 341 105 167 921 540 400 1,364 Income before income taxes 29,979 30,319 39,003 47,258 42,575 39,711 43,940 45,194 35,998 △ 41,261 Income taxes 12,240 10,262 13,638 16,723 14,492 13,276 14,280 12,348 15,770 △ 989 Current income taxes 13,007 14,676 15,433 15,275 12,966 12,230 13,111 12,516 10,899 1,959 Reversal of income taxes payable for previous periods ------Deferred income taxes △ 767 △ 4,413 △ 1,795 1,448 1,525 1,045 1,168 △ 167 4,871 △ 2,948 Net income 17,738 20,056 25,365 30,535 28,083 26,435 29,660 * 32,846 20,228 △ 40,272 Net income attributable to non-controlling interests △ 99 381 316 387 585 367 331 377 304 △ 468 Net income attributable to owners of the parent 17,837 19,674 25,048 30,147 27,497 26,067 29,328 32,468 19,923 △ 39,804

Consolidated Statements of Comprehensive Income

＊ Financial data in Excel format for the period from FY2004 onwards can be found on the Odakyu website: （Millions of yen） 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3 Net income 17,738 20,056 25,365 30,535 28,083 26,435 29,660 32,846 20,228 △ 40,272 Other comprehensive income 1,622 9,634 2,387 19,493 △ 12,580 2,036 3,672 △ 2,566 △ 11,372 6,194 Unrealized gain (loss) on securities 1,436 9,311 2,417 14,021 △ 3,936 △ 722 2,073 △ 2,062 △ 9,252 1,777 Reversal of reserve for land revaluation 176 - - 95 58 5 - - - - Remeasurements of defined benefit plans - - - 5,022 △ 8,359 2,700 1,442 △ 217 △ 1,846 4,128 Share of other comprehensive income (loss) of 9 322 △ 30 354 △ 342 52 156 △ 287 △ 273 288 associates accounted for using equity method Comprehensive income 19,361 29,691 27,752 50,028 15,503 28,471 33,333 * 30,279 8,855 △ 34,078 Comprehensive income attributable to: Owners of the parent 19,455 29,279 27,435 49,609 14,975 28,103 32,986 29,921 8,618 △ 33,615 Non-controlling interests △ 94 411 317 419 528 368 346 358 237 △ 462 Accompanying the application of “Partial Amendments to Accounting Standard for Tax Effect Accounting, etc.” * (ASBJ Statement No. 28, February 16, 2018), the figures as of the end of FY2017 have been restated.

Consolidated Statements of Cash Flows

＊ Financial data in Excel format for the period from FY2004 onwards can be found on the Odakyu website: （Millions of yen） 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3 Cash flows from operating activities 77,899 71,483 73,638 71,126 78,702 79,494 85,394 72,733 74,897 27,178 Income before income taxes 29,979 30,319 39,003 47,258 42,575 39,711 43,940 45,194 35,998 △ 41,261 Depreciation and amortization 55,410 50,424 48,651 46,691 47,307 46,936 45,347 46,727 49,628 51,258 Loss on impairment of fixed assets 1,189 11,402 845 844 2,450 5,380 929 1,133 2,351 15,751 Amortization of goodwill 1,568 808 48 54 175 184 227 282 534 326 Increase (decrease) in provision for bonuses 35 78 116 △ 271 411 △ 106 289 387 115 △ 1,344 Increase (decrease) in provision for retirement benefits △ 4,611 △ 1,473 ------Increase (decrease) in net defined benefit liabilities - - △ 1,804 △ 2,828 △ 3,235 574 △ 34 △ 1,015 △ 737 △ 70 Increase (decrease) in allow ance for doubtful accounts 34 △ 44 △ 125 179 19 218 △ 253 108 251 384 Increase (decrease) in allowance for unredeemed gift certificates and others △ 96 70 2 △ 60 508 65 65 △ 10 66 146 Increase and decrease in provision for loss on disaster ------1,447 △ 1,357 Interest and dividends income △ 1,068 △ 1,077 △ 1,202 △ 1,302 △ 1,420 △ 1,563 △ 1,705 △ 1,771 △ 1,779 △ 1,612 Interest expenses 11,112 10,003 9,342 8,357 7,898 7,016 6,445 5,828 5,372 5,396 Equity in losses (earnings) of affiliates △ 661 △ 1,169 △ 882 △ 1,064 △ 1,087 △ 1,224 △ 1,296 △ 1,274 △ 830 3,398 Special retirement payments ------2,944 - - 2,205 Construction costs allotted to and received from others △ 268 △ 52,372 △ 3,784 △ 2,881 △ 1,424 △ 1,339 △ 18,308 △ 2,028 △ 1,178 △ 2,866 Increase (decrease) in special reserve for expansion of railway transport facilities △ 4,700 △ 4,700 △ 4,700 △ 4,700 ------Loss (gain) on sales of investment securities ------2 △ 6,304 Loss (gain) on sales of stocks of subsidiaries and affiliates - - - △ 1,150 △ 318 88 856 208 △ 349 - Loss (gain) on sale of property and equipment, net △ 533 △ 3,002 4,825 276 △ 67 △ 104 △ 1,741 △ 1,707 △ 4,611 △ 1,004 Loss on deduction of carrying amounts of property and equipment 1,078 52,347 3,784 2,600 1,389 1,219 17,578 2,021 1,156 954 Loss on disposal of property and equipment 1,719 2,832 1,941 1,924 1,826 1,713 1,890 2,855 447 926 Loss (gain) on valuation of investment securities 258 106 17 27 0 97 217 19 183 993 Loss on valuation of inventories 230 1,519 266 177 290 60 51 268 120 156 assignment of accounts receivable ------1,230 - Decrease (increase) in trade receivables △ 922 △ 591 △ 1,966 △ 112 △ 1,423 841 △ 899 △ 1,145 3,120 2,494 Decrease (increase) in inventories 337 1,840 △ 1,395 △ 1,873 6,438 73 3,328 △ 1,665 2,166 1,745 Increase (decrease) in accounts payables 319 1,330 594 1,070 61 △ 433 1,600 △ 4,069 △ 2,395 △ 4,469 Increase (decrease) in deposits received ------△ 4,673 5,634 Other 3,088 △ 1,860 3,514 1,137 △ 2,747 △ 1,791 69 △ 52 2,917 2,144 Subtotal 93,501 96,793 97,093 94,355 99,631 97,619 101,542 90,293 90,554 33,626 Interest and dividends received 1,210 1,217 1,341 1,442 1,559 1,758 1,909 1,961 2,011 1,727 Interest paid △ 11,131 △ 10,122 △ 9,499 △ 8,430 △ 7,888 △ 7,141 △ 6,442 △ 5,911 △ 5,348 △ 5,393 Income taxes paid △ 5,681 △ 16,405 △ 15,297 △ 16,241 △ 14,600 △ 12,742 △ 11,615 △ 13,611 △ 12,320 △ 2,781

Consolidated Statements of Cash Flows

＊ Financial data in Excel format for the period from FY2004 onwards can be found on the Odakyu website: （Millions of yen） 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3 Cash flows from investing activities △ 70,226 △ 34,748 △ 23,050 △ 43,194 △ 49,276 △ 67,053 △ 52,681 △ 80,094 △ 85,454 △ 43,582 Purchase of investment securities △ 8 △ 7 △ 32 △ 1,918 △ 1,808 △ 2,337 △ 1,122 △ 7,746 △ 4,436 △ 1,008 Proceeds from sales of investment securities 14 39 13 4,385 2,623 568 33 842 3,842 8,465 Proceeds from sales of shares of subsidiaries ------Proceeds from purchase of investments in subsidiaries resulting in change in scope of consolidation ------Purchase of investments in subsidiaries resulting in change in scope of consolidation - - - △ 1,408 - - △ 1,030 △ 5,275 - - Proceeds from sales of shares of subsidiaries resulting in change in scope of consolidation - - - - 266 - 278 92 - - Purchase of investments in subsidiaries resulting in change in scope of consolidation - - - - - △ 63 - - △ 962 - Acquisition of property and equipment △ 88,118 △ 57,592 △ 49,666 △ 55,820 △ 61,480 △ 74,731 △ 64,988 △ 72,945 △ 89,415 △ 60,653 Proceeds from sales of property and equipment 1,994 4,357 15,766 986 1,002 292 3,453 2,307 3,278 8,518 Decrease (increase) in short-term loans receivable 191 0 △ 29 30 △ 9 △ 7 1,939 △ 5 △ 21 △ 290 Payments of long-term loans receivable △ 13 △ 263 △ 2 △ 60 △ 121 △ 65 △ 278 △ 322 △ 579 △ 898 Collection of long-term loans receivable 25 35 32 17 105 22 33 14 22 6 Proceeds from advances received for contract consignment 8,640 9,862 7,189 6,870 6,033 5,511 6,098 1,880 2,142 2,047 Proceeds from long-term advances received 5,834 8,347 1,815 3,756 3,935 3,402 3,299 1,639 1,100 - Other 1,212 471 1,864 △ 33 175 353 △ 399 △ 573 △ 424 229 Cash flows from financing activities 359 △ 37,771 △ 50,052 △ 38,997 △ 21,473 △ 20,473 △ 8,099 △ 15,083 17,171 37,207 Net decrease in short-term loans △ 8,619 △ 4,676 △ 1,813 129 △ 1,790 5,210 - 16,900 △ 113 △ 26,530 Net increase or decrease in commercial paper (△ indicates decrease) ------5,000 5,000 △ 10,000 Proceeds from long-term loans 59,486 44,134 33,467 13,088 34,117 39,396 13,500 18,083 18,604 59,527 Repayments of long-term loans △ 36,358 △ 57,584 △ 34,861 △ 20,399 △ 31,974 △ 27,904 △ 18,796 △ 36,009 △ 21,607 △ 24,212 Proceeds from issuance of bonds 30,000 40,000 40,000 25,000 40,000 30,000 50,000 40,000 65,000 82,000 Redemption of bonds △ 30,000 △ 45,000 △ 70,000 △ 40,000 △ 45,000 △ 50,000 △ 35,000 △ 40,000 △ 30,040 △ 30,025 Redemption of accounts payable to Japan Railway Construction, Transport and Technology Agency △ 8,527 △ 8,697 △ 10,344 △ 10,566 △ 9,852 △ 9,999 △ 10,158 △ 10,891 △ 11,109 △ 8,965 Cash dividends paid △ 4,696 △ 5,418 △ 5,781 △ 5,786 △ 6,503 △ 6,504 △ 7,220 △ 7,223 △ 7,948 △ 3,656 Acquisition of treasury stock △ 83 △ 154 △ 244 △ 191 △ 136 △ 52 △ 25 △ 420 △ 18 △ 12 Purchase of investments in subsidiaries not resulting in change in scope of consolidation - - - - - △ 199 △ 0 △ 1 △ 0 △ 0 Other △ 841 △ 374 △ 473 △ 271 △ 334 △ 419 △ 397 △ 520 △ 594 △ 918 Effect of exchange rate changes on cash and cash equivalents 0 0 0 0 0 0 0 0 0 0 Net increase (decrease) in cash and cash equivalents 8,032 △ 1,036 534 △ 11,066 7,953 △ 8,032 24,613 △ 22,444 6,613 20,803 Cash and cash equivalents at beginning of the year 22,865 30,897 29,860 30,438 19,371 27,326 19,293 43,907 21,636 28,464 Increase in cash and cash equivalents from newly consolidated subsidiaries - - 42 - - - - 173 214 - Increase in cash and cash equivalents resulting from inclusion of subsidiaries in consolidation - - - - 1 - - - - - Cash and cash equivalents at end of the year 30,897 29,860 30,438 19,371 27,326 19,293 43,907 21,636 28,464 49,267

Segment Information (Consolidated)

＊ Financial data in Excel format for the period from FY2004 onwards can be found on the Odakyu website: （Millions of yen） 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3 Revenue from operations 508,332 515,223 523,187 518,715 529,812 523,031 524,660 526,675 534,132 385,978 Transportation 165,731 169,609 172,698 171,277 168,303 172,863 176,183 179,293 173,174 116,230 Merchandising 223,690 223,649 225,171 222,684 225,012 219,285 214,479 210,681 206,563 157,685 Real Estate 60,885 60,771 64,466 60,843 73,002 69,910 68,578 69,006 80,478 72,872 Other businesses 91,621 96,290 95,875 100,215 100,128 99,511 105,023 106,937 112,256 68,131 Elimination △ 33,596 △ 35,097 △ 35,025 △ 36,305 △ 36,635 △ 38,539 △ 39,603 △ 39,242 △ 38,340 △ 28,941 Operating income 38,631 44,119 49,377 49,858 52,934 49,946 51,464 52,089 41,103 △ 24,190 Transportation 25,904 26,444 28,308 29,150 29,795 28,601 28,122 29,265 21,641 △ 25,937 Merchandising 3,459 3,813 3,670 3,160 3,911 3,175 4,647 2,960 4,373 △ 1,741 Real Estate 8,191 10,371 12,520 11,577 13,190 12,377 12,538 13,759 12,940 16,459 Other businesses 895 3,307 4,706 5,809 5,872 5,661 5,967 5,939 2,090 △ 13,020 Elimination 180 182 170 161 164 131 189 165 58 49 Total assets 1,311,185 1,264,501 1,244,344 1,253,849 1,257,332 1,270,102 1,294,498* 1,312,433 1,328,303 1,326,996 Transportation 716,117 672,541 670,416 668,484 671,890 677,516 673,766* 682,268 682,223 671,599 Merchandising 76,447 77,397 76,869 75,684 74,835 71,036 72,149* 74,073 72,653 59,146 Real Estate 392,592 381,328 356,617 362,297 358,027 378,528 374,016* 391,602 396,030 407,252 Other businesses 92,590 86,431 85,736 90,218 90,852 93,395 105,573* 119,170 137,514 125,166 Elimination 33,437 46,802 54,705 57,165 61,726 49,624 68,992* 45,318 39,882 63,830 Depreciation 55,410 50,424 48,651 46,691 47,307 46,936 45,347 46,727 49,628 51,258 Transportation 34,104 31,504 31,503 30,058 30,311 30,191 29,686 30,888 32,392 33,309 Merchandising 5,669 5,140 5,043 4,783 4,810 4,470 3,731 3,663 3,791 3,557 Real Estate 11,040 9,681 9,286 9,032 9,136 9,286 8,837 9,038 9,374 10,052 Other businesses 4,858 4,341 3,059 3,060 3,293 3,245 3,333 3,378 4,151 4,422 Elimination △ 261 △ 244 △ 241 △ 243 △ 244 △ 257 △ 241 △ 241 △ 82 △ 83 Capital investments 80,767 53,357 46,920 54,612 59,619 74,805 68,288 82,215 91,599 62,943 Transportation 31,426 34,904 30,623 31,129 36,957 34,547 43,428 43,135 40,940 35,155 Merchandising 3,371 4,642 4,652 6,730 4,239 3,363 2,873 11,058 5,498 3,091 Real Estate 43,976 10,855 6,992 12,375 13,074 31,287 17,337 20,931 29,547 19,265 Other businesses 1,992 2,956 4,651 4,376 5,348 5,636 4,649 7,090 15,612 5,431 Elimination - - - - △ 30 - - - - Accompanying the application of “Partial Amendments to Accounting Standard for Tax Effect Accounting, etc.” * (ASBJ Statement No. 28, February 16, 2018), the figures as of the end of FY2017 have been restated.

Odakyu Electric Railway Non-consolidated Information（Statements of Income）

＊ Financial data in Excel format for the period from FY2004 onwards can be found on the Odakyu website: （Millions of yen） 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3 Revenue from operations 154,876 158,467 163,047 162,329 164,757 166,445 169,556 173,901 172,081 Railway Business 113,645 116,204 117,925 117,242 118,564 119,880 121,217 123,364 121,105 Real Estate Business 36,230 37,127 39,768 39,578 40,401 40,845 42,533 44,527 44,893 Other Businesses 5,000 5,135 5,352 5,508 5,791 5,719 5,804 6,009 6,083 Operating income 31,477 32,859 39,044 38,417 42,293 39,824 40,359 41,397 35,895 Railway Business 22,915 22,573 25,046 24,732 27,706 25,015 24,319 25,763 22,303 Real Estate Business 6,107 7,812 11,528 11,294 12,141 12,292 13,490 13,040 11,146 Other Businesses 2,454 2,473 2,469 2,390 2,445 2,516 2,550 2,594 2,445 Non-operating income 2,660 2,827 2,893 3,561 3,571 4,904 4,351 4,955 4,610 Non-operating expenses 12,014 10,296 10,796 9,419 11,733 8,565 7,923 7,390 7,277 Ordinary income 22,122 25,390 31,141 32,558 34,131 36,163 36,788 38,962 33,228 Extraordinary income 5,310 56,877 9,771 7,754 1,689 1,127 19,493 3,890 5,292 Extraordinary losses 2,082 64,439 10,181 4,003 2,792 5,447 19,496 6,331 6,886 Income before income taxes 25,350 17,828 30,731 36,309 33,027 31,843 36,785 36,522 31,633 Current income taxes 10,501 10,394 13,011 11,734 10,465 8,865 9,919 9,504 8,287 Deferred income taxes 580 △ 3,328 △ 2,367 2,164 1,273 462 1,032* 1,035 2,032 Total income taxes 11,081 7,065 10,643 13,898 11,738 9,327 10,951* 10,539 10,319 Net income 14,268 10,763 20,087 22,410 21,289 22,516 25,834* 25,983 21,313 Accompanying the application of “Partial Amendments to Accounting Standard for Tax Effect Accounting, etc.” * (ASBJ Statement No. 28, February 16, 2018), the figures as of the end of FY2017 have been restated.

Odakyu Electric Railway Non-consolidated Information（Detailed operating expenses）

＊ Financial data in Excel format for the period from FY2004 onwards can be found on the Odakyu website: （Millions of yen） 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3 Operating expenses - total 123,399 125,607 124,002 123,912 122,463 126,621 129,196 132,503 136,185 Operating expenses - Railway Business 90,730 93,630 92,878 92,510 90,857 94,865 96,898 97,601 98,801 Transportation operating expenses 47,539 51,995 51,611 52,160 50,698 53,659 56,241 55,118 54,009 Personnel expenses 28,395 29,044 28,668 27,785 26,833 28,768 28,670 28,394 28,767 Expenses 19,144 22,951 22,943 24,375 23,865 24,890 27,571 26,723 25,241 General and administrative expenses 8,316 8,484 8,399 8,570 8,219 9,132 9,456 10,024 11,185 Personnel expenses 4,725 4,842 4,721 4,630 4,461 4,768 4,874 4,917 5,095 Expenses 3,591 3,642 3,678 3,940 3,757 4,363 4,582 5,106 6,089 Taxes 6,612 6,780 6,663 6,880 6,973 7,521 7,471 7,542 7,795 Depreciation 28,261 26,369 26,203 24,899 24,966 24,552 23,728 24,915 25,811 Operating expenses - Real Estate Business 30,122 29,314 28,240 28,283 28,260 28,552 29,043 31,486 33,746 Cost of sales of real estate 9,097 10,578 9,577 10,184 9,745 9,422 9,993 11,047 11,580 Selling, general and administrative expenses 4,191 4,056 4,217 4,211 4,594 5,038 5,229 6,013 6,828 Personnel expenses 2,231 2,140 2,205 2,058 2,228 2,438 2,541 2,844 3,176 Expenses 1,960 1,916 2,011 2,152 2,366 2,599 2,687 3,168 3,651 Taxes 3,445 3,069 3,662 3,414 3,473 3,741 3,728 3,978 4,396 Depreciation 13,388 11,610 10,783 10,473 10,446 10,350 10,091 10,448 10,940 Operating expenses - Other Businesses 2,546 2,661 2,883 3,117 3,345 3,202 3,254 3,415 3,637 Cost of sales of merchandise 1,303 1,448 1,608 1,731 1,924 1,801 1,890 2,005 1,990 Selling, general and administrative expenses 459 482 503 566 556 594 591 631 852 Personnel expenses 334 340 362 404 398 431 417 402 411 Expenses 125 141 140 161 157 162 174 228 441 Taxes 107 100 105 101 117 127 121 127 129 Depreciation 675 631 666 717 747 679 650 650 665

Odakyu Electric Railway Non-consolidated Information（Result of Railway Business）

＊ Financial data in Excel format for the period from FY2004 onwards can be found on the Odakyu website: （Millions of yen） 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3 Number of passengers carried 708,685 721,477 735,997 729,227 744,374 749,421 755,328 766,655 765,327 525,225 Commuter 435,093 441,595 453,754 448,540 458,190 461,606 465,889 471,984 477,738 331,963 Work commuters (thousand persons) 308,281 312,560 320,203 320,180 326,512 330,434 335,048 342,359 349,361 274,678 School commuters (thousand persons) 126,812 129,035 133,551 128,360 131,678 131,172 130,841 129,625 128,377 57,285 Non-commuter 273,592 279,882 282,243 280,687 286,184 287,815 289,439 294,671 287,589 193,262 Revenue 109,537 112,571 114,311 113,470 114,880 116,220 117,322 119,525 117,306 77,866 Commuter 44,051 44,637 45,736 44,986 45,907 46,337 46,871 47,703 48,354 34,290 Work commuters 37,354 37,823 38,712 38,306 39,060 39,540 40,109 41,013 41,755 31,638 School commuters 6,696 6,814 7,023 6,680 6,846 6,796 6,761 6,689 6,599 2,652 Non-commuter 65,486 67,933 68,575 68,484 68,973 69,882 70,451 71,822 68,951 43,575

＜Result of Railway Business (Year-on-year percentage change)＞ % Number of passengers carried △ 0.2 1.8 2.0 △ 0.9 2.1 0.7 0.8 1.5 △ 0.2 △ 31.4 Commuter △ 0.5 1.5 2.8 △ 1.1 2.2 0.7 0.9 1.3 1.2 △ 30.5 Work commuters (thousand persons) △ 0.7 1.4 2.4 △ 0.0 2.0 1.2 1.4 2.2 2.0 △ 21.4 School commuters (thousand persons) 0.2 1.8 3.5 △ 3.9 2.6 △ 0.4 △ 0.3 △ 0.9 △ 1.0 △ 55.4 Non-commuter 0.1 2.3 0.8 △ 0.6 2.0 0.6 0.6 1.8 △ 2.4 △ 32.8 Revenue △ 0.6 2.8 1.5 △ 0.7 1.2 1.2 0.9 1.9 △ 1.9 △ 33.6 Commuter △ 0.7 1.3 2.5 △ 1.6 2.0 0.9 1.2 1.8 1.4 △ 29.1 Work commuters △ 0.8 1.3 2.4 △ 1.1 2.0 1.2 1.4 2.3 1.8 △ 24.2 School commuters 0.2 1.8 3.1 △ 4.9 2.5 △ 0.7 △ 0.5 △ 1.1 △ 1.4 △ 59.8 Non-commuter △ 0.6 3.7 0.9 △ 0.1 0.7 1.3 0.8 1.9 △ 4.0 △ 36.8

Remarks Figures concerning the company’s business plans, future forecasts and strategies other than historical facts are forward-looking statements reflecting management’s view. Please note that, since the forward-looking statements are based on information currently available, the actual results may differ from these forecasts.