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Securities Code : 3289 FOR A VIBRANTLY SHINING FUTURE WE ARE GREEN Summary of the FY2026 First Quarter ( First Three Months ) Ended June 30 , 2026 August 6 , 2026 TOKYU FUDOSAN HOLDINGS
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2© TOKYU FUDOSAN HOLDINGS CORPORATION The forecasts and other forward-looking statements in this report are based on currently available information and certain assumptions determined as rational. Consequently, any statements herein do not cons titute assurances regarding actual results by the Group. Actual performance may significantly differ from these forecasts due to various factors in the future.
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3© TOKYU FUDOSAN HOLDINGS CORPORATION Financial Indexes for FY2025 and FY2026 FY2030FY2027FY2026FY2025FY2024 (Target)(Target)(Forecast)(Result)(Forecast)(Result) 10％ or more9.5%-10％ Approx. 11% 11.2% 10.7%9.9%ROE Potential, efficiency 5％ or more4.7% Approx. 5.5% 5.0% 4.8%4.5%ROA Approx. ¥170-¥140.02 ¥135.45 ¥126.07¥108.69EPS 8%/year target-13.5%/year 24.6% 16.0%-EPS growth rate ¥220.0 billion or more ¥170.0 billion¥190.0 billion ¥166.9 billion ¥160.0 billion¥140.8 billion Operating profit Profit Targets ¥120.0 billion or more ¥92.0 billion¥100.0 billion ¥96.7 billion ¥90.0 billion ¥77.6 billion Net profit*1 1.8x or less2.0x or less2.0x 2.0x 2.2x2.1xD/E ratio Financial soundness 8.0x or less-7.4x 7.6x 8.0x8.9xEBITDA multiple 4.3%-3.4% 3.3% 3.3%3.0% Asset-utilizing business*2 ROA 11.6%-14.0% 12.6% 11.5%10.7% Human capital-thriving business*2 Operating profit ratio *1 Profit attributable to owners of parent *2 Asset-utilizing business: Urban Development and Strategic Invest ment businesses, Human capital-thriving business: Property Ma nagement & Operation and Re al Estate Agents businesses Reprint (FY2025 Presentation Material)
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4© TOKYU FUDOSAN HOLDINGS CORPORATION *1 Figures in brackets show amounts posted, and figures with the mark + or figures in parentheses sh ow increases or decreases (c ommon for all pages) *2 Each figure for the first qu arter of the fiscal year ended March 2026 reflects the content of finalization following the finalization of the provisional accounting treatment for business combination in the fiscal year ended March 2026. *3 The figures are the forecast that we announced on May 11, 2026 (common for all pages) Steady progress was made toward the full-year earnings forecast. Progress rate against the full-year forecast: 24.5% for operating profit, 25.3% for ordinary profit, and 25.5% for net profit FY2026 Q1 Operating Results FY2025 FY2026 FY2026 Q1*² Q1 Forecast*³ Operating revenue 288.0 285.8 (2.2) 20.4% 1,246.0 1,400.0 Urban Development 98.3 72.3 (26.0) 15.2% 399.9 475.5 Strategic Investment 18.2 23.5 5.3 13.3% 146.6 176.5 Property Management & Operation 80.5 101.3 20.8 25.5% 364.4 398.0 Real Estate Agents 101.9 95.0 (6.8) 25.1% 364.7 378.0 Elimination (11.0) (6.5) 4.5 − (29.5) (28.0) Operating profit 41.3 46.6 5.3 24.5% 166.9 190.0 Urban Development 21.6 11.6 (10.0) 15.4% 75.2 75.3 Strategic Investment (0.6) 0.6 1.2 3.1% 13.2 19.3 Property Management & Operation 4.5 21.2 16.7 50.0% 27.2 42.3 Real Estate Agents 20.5 16.3 (4.1) 24.6% 64.4 66.5 Elimination (4.6) (3.1) 1.5 − (13.2) (13.4) Non-operating income 1.4 1.8 0.4 − 5.7 – Non-operating expenses 5.2 7.7 2.5 − 24.7 – Ordinary profit 37.5 40.7 3.2 25.3% 147.8 161.0 Extraordinary income 9.7 – (9.7) − 9.8 – Extraordinary losses – 0.0 0.0 − 10.5 – 30.6 25.5 (5.1) 25.5% 96.7 100.0 Note □ Interest expense FY2025 Q1：¥4.5 billion FY2026 Q1：¥6.1 billion □ Extraordinary income FY2025 Q1: Profit on sales of affiliated company shares ¥9.5 billion, etc.Profit attributable to owners of parent (¥ billion) Comparison Progress FY2025
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5© TOKYU FUDOSAN HOLDINGS CORPORATION Urban Development (10.0) Strategic Investment +1.2 Property Management & Operation +16.7 Real Estate Agents (4.1) Elimination +1.5 26/3 Q1 Results Urban Development Strategic Investment Property Management & Operation Real Estate Agents Elimination 27/3 Q1 Results ・ Property Management business +0.8 billion yen ・ Wellness business +16.2 billion yen (Sales to investors, etc., +16.6 billion yen, etc.) ・ Offices & Commercial facilities business (7.3) billion yen (Sales to investors, etc., (5.8) billion yen, etc.) ・ Residential business (2.7) billion yen (Sales to investors, etc., (1.8) billion yen, etc.) ・Renewable energy business +1.1 billion yen ・Industry business (0.5) billion yen ・Overseas business +0.6 billion yen ・ Real estate agents business (4.6) billion yen (Real estate agents +0.6 billion yen, real estate sales (5.1) billion yen, etc.) ・Rental housing service +0.4 billion yen (¥ billion) FY2026 Q1 Analysis of Operating Profit Overall, operating profit increased by 5.3 billion yen YoY, and profit increased for the Property Management & Operation segment and decreased for the Urban Development segment due to changes in sales to investors, etc. 41.3 46.6 +5.3 FY2026 Q1 Results FY2025 Q1 Results
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6© TOKYU FUDOSAN HOLDINGS CORPORATION Progress in investments has led to an increase in real estate for sale Long-term ratio of interest-bearing debt at the end of March 2026 was approx. 96%, the fixed ratio was approx. 94%, and the external credit rating for long-term (Japan Credit Rating Agency) was A+ (stable) FY2026 Q1 Balance Sheet *1 Long-term ratio and fixed ratio of interest-bearing debt are on a consolidated basis (excluding SPCs) *2 Total of real estate for sale an d real estate for sale in process *3 Total of tangible and intangible assets subtracting goodwill FY2025 FY2026 FY2025 FY2026 Mar-31, 2026 Jun-30, 2026 Mar-31, 2026 Jun-30, 2026 Cash and deposits 187.8 152.7 (35.1) Interest-bearing Debt 1,826.9 1,916.9 90.0 Real estate for sale*2 1,082.4 1,138.4 56.0 Deposits 309.9 298.2 (11.8) Property and equipment, intangible assets**3 1,294.8 1,298.8 4.0 Trade payables, etc. 134.3 107.9 (26.4) Goodwill 49.3 48.0 (1.3) Other 231.2 222.7 (8.6) Other investments 569.6 589.4 19.8 Total liabilities 2,502.5 2,545.7 43.2 Accounts receivable, etc. 80.0 65.4 (14.6) Equity 898.1 910.7 12.6 Other 155.1 182.9 27.8 Non-controlling interests, etc. 18.5 19.3 0.8 Total assets 3,419.1 3,475.7 56.6 Total net assets 916.6 930.0 13.4 (¥billion) Comparison (¥ billion) Comparison
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7© TOKYU FUDOSAN HOLDINGS CORPORATION Driven primarily by increasing office rents, market valuations rose, and unrealized gains on investment properties expanded to 498.8 billion yen. NAV per share* : 1,739 yen (u p 10.6% from the end of the previous fiscal year) Market Value Appraisal for Leased Properties (As of the end of March 2026) * BPS added to unrealized gains per share (after adjustment for tax) ¥764.0 billion ¥732.6 billion ¥749.5 billion ¥747.5 billion ¥741.6 billion ¥274.1 billion ¥299.8 billion ¥408.4 billion ¥435.1 billion ¥498.8 billion ¥1,038.1 billion ¥1,032.4 billion ¥1,158.0 billion ¥1,182.6 billion ¥1,240.4 billion ¥878 ¥965 ¥1,053 ¥1,150 ¥1,260¥1,143 ¥1,258 ¥1,451 ¥1,573 ¥1,739 March 2022 March 20 23 March 2024 Marc h 2025 March 2026 < Changes in market value and book value of leased properties and others > Carrying value Latent profit BPS NAV per share* FY2024 FY2025 Mar-31, 2025 Mar-31, 2026 Carrying value 747.5 741.6 (5.9) Market value 1,182.6 1,240.4 57.8 435.1 498.8 63.7 (¥ billion) Comparison remarks □ Market value at the end of the fiscal year is calculated by our company mainly according to the "standards for appraisal of real estate". □ The properties to be developed before opening are in the early process of development and their market value therefore cannot be grasped. As such, they are not included in the table on the left (¥38.2 billion at the end of March 2025 and ¥40.6 billion at the end of March 2026). □ NOI yield on operating properties at normal times: approx. 6% Difference (latent profit) Reprint (FY2025 Presentation Material)
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8© TOKYU FUDOSAN HOLDINGS CORPORATION FY2024 FY2025 Full-year results Full-year results 47.4 129.5 82.1 (140.0) (164.5) (24.5) 1.5 55.8 54.4 157.5 180.5 23.1 (92.6) (35.0) 57.6 (¥ billion) Comparison Cash and cash equivalents at end of period Free cash flow Net cash provided by (used in) operating activities Net cash provided by (used in) investment activities Net cash provided by (used in) financing activities FY2025 investment results : Investments are progressing well, primarily in renewable energy facilities for capital investments as well as rental housing and logistics facilities for real estate for sale FY2026 investment plan : Plan to invest primarily in offices for capital investment, and rental housing and logistics facilities for real estate for sale Statement of Cash Flows and Investment Plan < Information: investment results and plans > *1 Investment amount for land only until the fiscal year ending March 2025. *2 Excluding the amount for acquiring shares of ReENE ENERGY Corporation (company name changed from Renewable Japan Co., Ltd. as of April 1, 2026) *3 Contributions are included < Statement of Cash Flows > FY2024 FY2025 FY2026 Full-year results Full-year results Full-year plan 80.6 112.2 170.0 184.4 214.4 280.0 49.8 89.3 130.0 13.9 28.1 30.0 77.3 56.9 80.0 Overseas investment *3 (¥ billion) Capital investment Real estate for sale (domestic business excluding condominiums) Real estate for sale (domestic condominiums) *1 Equity investment (excluding overseas business ) *2 Reprint (FY2025 Presentation Material)
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9© TOKYU FUDOSAN HOLDINGS CORPORATION 1,246.0 1,400.0 154.0 Urban Development 399.9 475.5 75.5 Strategic Investment 146.6 176.5 29.9 Property Management & Operation 364.4 398.0 33.7 Real Estate Agents 364.7 378.0 13.4 Elimination (29.5) (28.0) 1.5 166.9 190.0 23.1 Urban Development 75.2 75.3 0.1 Strategic Investment 13.2 19.3 6.1 Property Management & Operation 27.2 42.3 15.1 Real Estate Agents 64.4 66.5 2.1 Elimination (13.2) (13.4) (0.2) Non-operating income 5.7 ーー Non-operating expenses 24.7 ーー 147.8 161.0 13.2 Extraordinary income 9.8 ーー Extraordinary losses 10.5 ーー 96.7 100.0 3.3 □Major Index（FY2026 forecast） ROE：approx. 11% ROA：approx. 5.5% EPS：¥140.02 EPS average growth：13.5% per year（FY2024〜FY2026) Profit attributable to owners of parent (¥ billion) Comparison noteFY2025 FY2026 Forecast Operating revenue Operating profit Ordinary profit Forecast for a new record profit due to expectations of strong performance in the sales to investors, etc., sales of condominiums and real estate agents business, with ROE planned at approx. 11%, EPS average growth planned at 13.5% per year (FY2024-FY2026) FY2026 Full-Year Earnings Forecast Reprint (FY2025 Presentation Material)
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10© TOKYU FUDOSAN HOLDINGS CORPORATION Urban Development +0.1 Strategic Investment +6.1 Property Management & Operation +15.1 Real Estate Agents +2.1 Elimination (0.2) FY2025 Urban Development Strategic Investment Property Management & Operation Real Estate Agents Elimination FY2026 Forecast FY2026 Analysis of Forecast for Operating Profit ･Offices & Commercial facilities business (9.2) billion yen (Sales to investors, etc. (10.7) billion yen, improved occupancy rate of properties, etc.) ･Residential business +9.2 billion yen (Increase in the number of units sold, etc.) ･Renewable energy business +3.0 billion yen ･Industry business (0.1) billion yen ･Overseas business +3.3 billion yen ･Property Management business +0.2 billion yen ･Wellness business +14.7 billion yen (Sales to investors, etc., +16.4 billion yen, etc.) ･Real estate agents business +2.5 billion yen (Real estate agents +2.6 billion yen, etc.) Plan to increase operating profit by 23.1 billion yen YoY, driven by a significant increase in profits from the wellness business due to sales to investors, etc., as well as strong performance in the residential and the real estate agents businesses +23.1 190.0 166.9 (¥ billion) Reprint (FY2025 Presentation Material)
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11© TOKYU FUDOSAN HOLDINGS CORPORATION 5.7 24.0 13.3 2.7 12.1 0.9 15.4 14.3 16.4 2.1 1.8 16.6 16.4 8.4 52.5 17.5 63.3 FY 2025 Q1 FY 2025 FY 2026 Q1 FY 2026 (forecast) Wellness Renewable energy Industry Residential Offices/Commercial facilities 247.3 234.0 136.1 157.9 88.1 117.9 161.8 150.1 11.9 12.1 645.2 672.0 Mar-31, 2025 Mar-31, 2026 Wellness Renewable energy Industry Residential Offices/Commercial facilities Approx. 290.0 Approx. 290.0 Approx. 270.0 Approx. 280.0 Approx. 230.0 Approx. 280.0 Approx. 160.0 Approx. 150.0 Approx. 10.0 Approx. 10.0 Approx. 970.0 Approx. 1,020.0 Mar-31, 2025 Mar-31, 2026 Approx. 30% of gains on sales to investors, etc. scheduled for FY2026 have been secured, and steady progress was made toward the full-year sales plan Gains on Sales to Investors and Total Value of Investment < Trends in gains on sales to investors, etc. > < Sales to investors on the balance sheet*2 > *1 Operating profit includes gains on sale of non-consolidated SPCs paid as dividends *2 Each figure of renewable energy business at the end of the fiscal year ended March 2025 reflects the content of finalization following the finalization of the provisional accounting treatment for business combination in the fiscal year ending March 2026 *3 Calculated by adding future construction costs, etc. to the balance sheet total (¥ billion) (¥ billion) (¥ billion) < Total investment amount including sales to investors*2*3 >
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12© TOKYU FUDOSAN HOLDINGS CORPORATION 67.21 yen 96.40 yen 108.69 yen 135.45 yen 140.02 yen FY2022 FY2023 FY2024 FY2025 FY2026 (Forecast) 9.0 yen 14.0 yen 17.0 yen 22.0 yen 25.0 yen 14.5 yen 17.0 yen 19.5 yen 26.0 yen 25.0 yen 23.5 yen 31.0 yen 36.5 yen 48.0 yen 50.0 yen FY2022 FY2023 FY2024 FY2025 FY2026 (Forecast) Dividend (Interim) Dividend (Year-end) Shareholder Return < Dividends, dividend payout ratio trends > < EPS trends > • Annual dividend increased approx. 2.1 times over the past four years • Continued to strengthen shareholder return along with EPS growth • Target EPS growth rate: 8% per annum (average from FY2024 to FY2030) • 13.5% per annum is pla nned for FY2026 (average from FY2024 to FY2026) 35.7%35.4%33.6%32.2%35.0% Dividend payout ratio (vs. FY2025 +2.0 yen) (vs. FY2025 +4.57 yen) Annual dividend: Increased to 48.0 yen for FY2025; 50.0 yen planned for FY2026 35% or more (FY2025-FY2027) and implemented progressive dividend paymentsShareholder return policy Dividend payout ratio FY2025 35.4% (+0.1 pts from the forecast) FY2026 35.7% (+0.3 pts compared to the previous fiscal year) Annual dividend FY2025 48.0 yen (up 11.5 yen YoY / up 3.5 yen from the forecast) FY2026 50.0 yen (up 2.0 yen YoY) (FY2026 is forecast) Reprint (FY2025 Presentation Material)
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Fact Sheets Summary of the FY2026 First Quarter (First Three Months) Ended June 30, 2026
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14© TOKYU FUDOSAN HOLDINGS CORPORATION (\ billion) Vs. FY2025 Vs. FY2025 Operating revenue 176.7 225.7 182.4 46.2 104.3 116.9 255.5 31.0 (15.2) 332.7 +77.2 Urban Development 142.6 163.0 140.0 46.2 104.3 111.0 193.1 11.5 (34.7) 230.8 +37.7 Offices and commercial facilities, etc. 98.2 73.7 97.9 28.3 28.3 32.6 88.8 2.4 (25.9) 94.9 +6.1 Residential 44.3 89.3 42.2 17.9 76.0 78.4 104.3 9.0 (8.9) 135.9 +31.6 Strategic Investment (Infrastructure & Industry) 34.2 58.3 38.7 －－ 5.9 62.1 －－ 84.4 +22.3 Renewble energy －－－－－－ 5.1 －－ 18.7 +13.6 Industry －－ 38.7 －－ 5.9 57.0 －－ 65.7 +8.7 Property Management & Operation (Wellness) － 4.5 3.7 －－－－ 19.5 +19.5 17.4 +17.4 Real Estate Agents －－－－－－－－－ －－ Capital gain 44.4 50.9 46.8 8.4 17.4 16.0 52.5 17.5 +9.0 63.3 +10.7 Urban Development 33.8 31.3 32.3 8.4 17.4 16.0 36.1 0.9 (7.5) 28.7 (7.4) Offices and commercial facilities, etc. 28.4 16.9 29.6 5.7 4.9 4.4 24.0 － (5.7) 13.3 (10.7) Residential 5.4 14.4 2.6 2.7 12.5 11.6 12.1 0.9 (1.8) 15.4 +3.3 Strategic Investment (Infrastructure & Industry) 10.6 17.8 13.3 －－－ 16.4 －－ 18.2 +1.8 Renewble energy －－－－－－ 2.1 －－ 1.8 (0.2) Industry －－ 13.3 －－－ 14.3 －－ 16.4 +2.1 Property Management & Operation (Wellness) － 1.9 1.2 －－－－ 16.6 +16.6 16.4 +16.4 Real Estate Agents －－－－－－－－－ －－ *1 Until the fiscal year ended March 2024, figures related to the sales of real estate for sale. Additionally, gain on sales is gross profit From the fiscal year ended March 2025, figures related to the sales of real estate for sale and dividends from the sale of non-consolidated SPCs. Additionally, gain on sales is operating profit *2 Quarterly figures are cumulative totals Q1 Forecast FY2026 FY2026 Q1 Q2 Q3 Full-year FY2022 FY2023 FY2024 FY2025 Trend in Sales to Investors, etc.
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15© TOKYU FUDOSAN HOLDINGS CORPORATION Vs. FY2025 Vs. FY2025 Vacancy rate (Offices and commercial facilities) 1.1% 4.8% 0.3% 0.3% 0.6% 0.7% 0.7% 0.2% (0.5)pt －－ Average office rent [¥ yen/Month/Tsubo (approx. 3.3㎡)] *1 28,560 29,750 30,520 30,860 30,930 30,950 30,710 30,940 +230 －－ ( thousand ㎡) Vs. FY2025 Vs. FY2025 Office buildings *3 755 884 855 848 846 844 844 840 (3) －－ Commercial facitilites *4 780 792 776 767 770 770 814 814 －－ － Total 1,536 1,675 1,630 1,615 1,617 1,615 1,658 1,654 (3) －－ Vs. FY2025 Vs. FY2025 Average price per unit [\ million/unit] 70 70 84 165 111 109 89 118 (47) 99 +9 No. of units sold 1,369 1,280 1,006 122 403 528 899 255 +133 1,214 +315 Year-end inventory of completed units *5 200 127 185 127 133 104 249 211 +84 －－ Gross margin [¥ billion] 22.6 22.8 31.4 9.1 16.1 20.0 25.2 10.1 +0.9 35.7 +10.4 Gross margin ratio 23.7% 25.4% 37.1% 45.4 % 35.9% 34.8% 31.4% 33.5% (11.9)pt 29% (2.4)pt Vs. FY2025 Vs. FY2025 Number of properties in operation *6*7 89 104 248 282 293 303 301 324 +23 －－ Rated capacity *6*7 1,577MW 1,751MW 2,527M W 2,587MW 2,674MW 2,674MW 2,693MW 2,705MW +12MW －－ After conversion to equity *6*7 1,013MW 1,168MW 1,877MW 1,921MW 2,008MW 2,034MW 2,029MW 2,043MW +13MW －－ O&M *8 －－ 2,821MW 3,046MW 3,145MW 3,188MW 3,582MW 3,746MW +164MW －－ (\ billion) Vs. FY2025 Vs. FY2025 Activia REIT 587.3 546.2 541.8 541.8 541.8 541.8 541.8 542.2 +0.4 －－ Comforia REIT 290.2 317.3 332.9 339.7 340.1 340.1 340.7 340.7 －－ － Private REITs, etc. 875.4 1,243.2 980.7 1 ,010.8 1,035.7 1,073.2 1,111.4 1,126.5 +15.1 －－ Total 1,752.9 2,106.7 1,855.4 1,892.3 1 ,917.6 1,955.1 1,993.9 2,009.3 +15.4 －－ Forecast Total Floor Area Trend *2 FY2022 Mar-31, 2023 FY2023 Mar-31, 2024 FY2025 Mar-31, 2026 FY2026 Mar-31, 2027 FY2026 Mar-31, 2027 Q1 Q2 Q3 Full-year Vacancy Rate and Rent FY2022 Mar-31, 2023 FY2023 Mar-31, 2024 FY2024 Mar-31, 2025 Q1 Q2 Q3 Q1 Full-year Q1 Forecast FY2024 Mar-31, 2025 FY2025 Mar-31, 2026 FY2026 Mar-31, 2027 FY2026 Mar-31, 2027 FY2025 Mar-31, 2026 FY2026 Mar-31, 2027 FY2026 Mar-31, 2027 Q1 Q2 Q3 Full-year FY2024 Mar-31, 2025 Q1 Forecast Renewable Energy Business FY2022 Mar-31, 2023 FY2023 Mar-31, 2024 Condominium Index FY2022 Mar-31, 2023 FY2023 Mar-31, 2024 Forecast FY2024 Mar-31, 2025 FY2025 Mar-31, 2026 FY2026 Mar-31, 2027 FY2026 Mar-31, 2027 AUM Trends FY2022 Mar-31, 2023 FY2023 Mar-31, 2024 FY2024 Mar-31, 2025 Full-year Q1 Q1 Forecast FY2025 Mar-31, 2026 FY2026 Mar-31, 2027 FY2026 Mar-31, 2027 Q1 Q2 Q3 Full-year Q1 Q2 Q3 Major KPI in Each Business (1) *1 The average office rents of Tokyu Land Corporation and its subsidiaries, as presented herein, are inclusive of common area maintenance (CAM) charges. *2 The calculation method has been changed starting from the fiscal year ending March 2026 *3 Of the office properties as of the end of March 2026, 51% were completed in 2016 or later *4 Of the commercial facilities as of the end of March 2026, 79% are fixed-rent properties *5 The year-end inventory of completed units includes units not yet supplied *6 Only domestic projects are listed until the fiscal year ending March 2024, and from the fiscal year ending March 2025, operational facilities of ReENE ENERGY Corporation (company name changed from Renewable Japan Co., Ltd. as of April 1, 2026) and its subsidiaries are included *7 Including projects under development *8 Power plant management operations (abbreviation for Operation & Maintenance) *9 Year-on-year comparisons for BS-related items (vacancy rates and rent trends, total floor area trends, renewable energy business trends, and AUM trends) are based on figures as of the previous fiscal year-end
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16© TOKYU FUDOSAN HOLDINGS CORPORATION Vs. FY2025 Vs. FY2025 Condominium [thousand units] 868 845 815 845 843 842 832 858 +25 862 +30 Buildings and other facilities 1,656 1,644 1,618 1,621 1,611 1,605 1,420 1,443 +23 1,441 +21 FY2025 Mar-31, 2026 Vs. FY2025 Occupancy rate 78.5% 76.7% 79.9% 78.2% 79.9% 80.2% 78.1% 81.1% +2.8pt 79.1% ADR [yen] 9,864 15,157 19,069 22,016 19,440 25,001 20,984 22,244 +229 21,869 RevPAR [yen] 7,743 11,625 15,235 17,220 15,531 20,046 16,390 18,032 +812 17,293 (rooms) Vs. FY2025 Vs. FY2025 Tokyu Harvest Club 2,833 2,750 2,810 2,810 2,810 2,810 2,710 2,710 － 2,822 +112 Tokyu Stay 5,193 5,180 5,181 5,181 5,154 5,154 5,230 5,412 +182 5,307 +77 Resort hotel 1,206 1,177 1,307 1,307 1,307 1,307 1,307 1,307 － 1,307 － Total 9,232 9,107 9,298 9,298 9,271 9,271 9,247 9,429 +182 9,436 +189 Vs. FY2025 Vs. FY2025 Transaction amounts [¥ billion] 1,315.4 1,405.1 1,604.0 402.9 864.7 1,308.3 1,819.9 466.6 +63.7 1,991.3 +171.4 Number of transactions [units] 28,473 29,038 31,789 7,586 16,065 24,039 32,861 7,892 +306 35,566 +2,705 Average transaction price [¥ million] 46 48 50 53 54 54 55 59 +6 56 +1 Commission fee ratio 4.7% 4.6% 4.6% 4.5% 4.6% 4.6% 4.6% 4.6% +0.1pt 4.6% － Vs. FY2025 Vs. FY2025 Transaction amounts [¥ billion] 505.9 675.0 627.2 140.1 326.2 555.0 743.6 143.5 +3.4 787.2 +43.6 Number of transactions [units] 1,104 1,227 1,129 257 538 780 1,061 232 (25) 1,103 +42 Average transaction price [¥ million] 458 550 556 545 606 711 701 618 +73 714 +13 Commission fee ratio 3.1% 2.6% 2.8% 2.7% 2.6% 2.6% 2.7% 2.6% (0.1)pt 2.7% － (thousand units) Vs. FY2025 Vs. FY2025 Rental housing management stock 130 138 144 144 146 148 151 153 +2 157 +6 Student condominiums, etc. management stock 52 56 55 55 56 56 57 57 +1 57 － *1 Full-year figures are annual averages; quarterly figures are quarterly averages *2 From the fiscal year ending March 2025, certain operations were transferred from the Wholesale to Retail due to organizational changes *3 The plan for the number of managed units including student condominiums for the fiscal year ending March 2027 is the initial plan for the fiscal year ending March 2028 *4 Year-on-year comparisons for BS-related items (stock of properties under management trends, number of rooms trends, and stoc k of properties trends) are based on figures as of the previous fiscal year-end Forecast FY2025 Mar-31, 2026 FY2026 Mar-31, 2027 FY2026 Mar-31, 2027 Q1 Q2 Q3 Full-year Trends in Stock of Properties *3 FY2022 Mar-31, 2023 FY2023 Mar-31, 2024 FY2024 Mar-31, 2025 Full-year Q1 Q1 Forecast FY2024 Mar-31, 2025 FY2025 Mar-31, 2026 FY2026 Mar-31, 2027 FY2026 Mar-31, 2027 Q1 Q2 Q3 Trends in Brokerage Volume and Number of Transactions Wholesale *2 FY2022 Mar-31, 2023 FY2023 Mar-31, 2024 Trends in Brokerage Volume and Number of Transactions Retail *2 FY2022 Mar-31, 2023 FY2023 Mar-31, 2024 FY2025 Mar-31, 2026 FY2026 Mar-31, 2027 FY2026 Mar-31, 2027 Q1 Q2 Q3 Full-year FY2024 Mar-31, 2025 Q1 Forecast Full-year Q1 Forecast FY2024 Mar-31, 2025 FY2025 Mar-31, 2026 FY2026 Mar-31, 2027 FY2026 Mar-31, 2027 Full-year Number of Rooms Trends FY2022 Mar-31, 2023 FY2023 Mar-31, 2024 FY2024 Mar-31, 2025 FY2025 Mar-31, 2026 FY2026 Mar-31, 2027 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q1 Tokyu Stay Operation Status *1 FY2022 Mar-31, 2023 FY2023 Mar-31, 2024 Stock of Properties Under Management FY2022 Mar-31, 2023 FY2023 Mar-31, 2024 FY2025 Mar-31, 2026 FY2026 Mar-31, 2027 FY2026 Mar-31, 2027 Q1 Q2 Q3 Full-year FY2024 Mar-31, 2025 Q1 Forecast Major KPI in Each Business (2)