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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. Tokyo Century Corporation (8439） IR Presentation for Q1 FY2026
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. Contents Financial Highlights p. 3 Topics p. 7 Results by Operating Segment p. 16 p. 31 2 確定後 記載 Appendix Tokyo Century’s Strengths and Partnerships
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. 3 Financial Highlights
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. Average exchange rate (Q1) FY2024: ¥148.62 FY2025: ¥152.56 FY2026: ¥156.96 Fiscal year-end/quarter- end exchange rate FY2024: ¥158.17 FY2025: ¥156.54 Q1 FY2026: ¥159.93 FX sensitivity (net income) Approx. ±¥0.4 billion per ¥1 fluctuation against the USD Executive Summary Net Income & ROE Total Assets & ROA Shareholders' Equity & Shareholders' Equity Ratio ✓ Net Income: ¥35.1 billion (+¥13.0 billion); Progress vs. Forecast: 28.6%; ROE: 12.3% (+3.5 pts) ✓ Key Factors: Gains on sales in Transport (aviation & ships) and earnings growth in Global Business (CSI) ✓ Deconsolidation of ACG (Shift to Equity-Method Affiliate): Significant progress in business portfolio transformation under Medium-Term Management Plan 2030 Assumption: JPY/USD exchange rates 4 サマリーと計画に対する 進捗率を記載したい 15.0% 15.5% 15.6% 1,029.6 1,120.5 1,159.1 2025年 3月末 2026年 3月末 2026年 6月末 6,862.9 7,214.8 7,437.5 2025年 3月末 2026年 3月末 2026年 6月末 10.1% 8.8% 12.3% 23.0 22.1 35.1 2024年度 1Q 2025年度 1Q 2026年度 1Q 1.3% 1.6% 1.9% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% ＋13.0 ＋222.7 +3.5 pts ＋59.1% ＋3.1% +38.6 +3.4% ＋0.3 pts +0.1 pts Q1 FY2024 Q1 FY2025 Q1 FY2026 March 31, 2025 March 31, 2026 June 30, 2026 March 31, 2025 March 31, 2026 June 30, 2026 グラフの数値が手修正なので 数値変わったら要注意→ (Billions of yen)
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. （Billions of yen） Domestic Business 6.9 8.1 1.2 Global Business 3.6 5.0 1.4 Social Infrastructure 2.4 3.3 0.9 Transport 3.5 12.2 8.7 Mobility 6.5 7.4 0.9 Corporate Investment 1.6 1.4 (0.2) Other (2.4) (2.2) 0.2 22.1 35.1 13.0 Total FY2025 Q1 FY2026 Q1 YoY Key Factors ✓ Significant income growth, driven by gains on sales in Transport (aviation & ships) 5 Results by Operating Segment Net Income Attributable to Owners of Parent (+) Earnings growth in CSI, driven by large-scale projects (−) Absence of gains on sales of operational investment securities recognized in the same period of the previous fiscal year (+) Higher gains on sales of aircraft and ships (+) Earnings growth in car rental alongside higher gains on vehicle sales (−) Absence of large-scale gains on sales recognized in the same period of the previous fiscal year (+) Gains on sales of real estate and earnings growth in overseas renewable energy operations (+) Higher income in NTL 和）前期→前年同期 和）前期→前年同期
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. 6 2024年度 1Q 円貨 外貨 Balance Sheet Interest-Bearing Debt / Financing CostTotal Assets Shareholders’ Equity (Billions of yen) o/w FX Impact*1 Total assets 7,214.8 7,437.5 222.7 Segment assets 6,310.7 6,455.9 145.2 70.9 Domestic Business 1,307.7 1,290.6 (17.1) — Global Business 926.1 955.4 29.4 17.5 CSI 505.0 528.0 23.0 11.2 Social Infrastructure 1,083.9 1,105.6 21.7 6.1 Real Estate 859.0 878.1 19.2 5.2 Environmental infrastructure 225.0 227.5 2.6 0.9 Transport 2,248.7 2,348.7 100.0 47.4 Aviation 2,150.6 2,239.3 88.7 47.2 Shipping 97.1 108.5 11.3 0.1 Mobility 548.4 571.2 22.8 (0.2) NCS 399.3 401.3 2.1 — NRS 44.5 44.0 (0.5) — Corporate Investment 92.0 91.9 (0.1) 0.0 Others 104.0 92.5 (11.5) 0.1 Other assets *2 904.1 981.6 77.5 Exchange rate (1USD) 156.54 159.93 *1 Segment assets only *2 Calculated by deducting segment assets from total assets Mar. 31, 2026 Jun. 30, 2026 Change (Billions of yen) Mar. 31, 2025 Mar. 31, 2026 Jun. 30, 2026 Change Interest-bearing debt 4,912.6 5,142.5 5,370.9 228.4 Japanese yen 2,662.9 2,705.9 2,762.9 57.0 Foreign currency 2,249.7 2,436.6 2,608.0 171.4 Foreign currency % 45.8% 47.4% 48.6% 1.2 pts Direct funding ratio 30.0% 28.8% 30.6% 1.8 pts Long-term funding ratio 88.2% 85.7% 85.7% 0.0 pts FY2024 Q1 FY2025 Q1 FY2026 Q1 YoY Funding cost 29.4 30.7 34.3 3.6 Interest expense 2.2 2.7 3.6 0.9 31.6 33.4 37.9 4.5 Japanese yen 3.5 5.6 7.6 2.0 Foreign currency 28.1 27.8 30.3 2.5 Financing cost ratio % 2.61% 2.70% 2.88% 0.2 pts Japanese yen % 0.54% 0.83% 1.11% 0.3 pts Foreign currency % 5.03% 4.92% 4.80% (0.1 pts) Financing cost (Fuding cost + Interest expense) (Billions of yen) Mar. 31, 2025 Mar. 31, 2026 Jun. 30, 2026 Change Shareholders' equity 1,029.6 1,120.5 1,159.1 38.6 Shareholders' equity ratio 15.0% 15.5% 15.6% 0.1 pts
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. 7 Topics Accelerating Aviation Capital Group's Growth Through Value Co-Creation ITOCHU Corporation and Tokyo Century
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. Executive Summary Impact on Consolidated Financial Results Estimated Impact on Net Income: Approx. ¥30 billion ✓ As a result of the share transfer, net income attributable to owners of the parent is estimated to increase by approximately ¥30 billion. However, the timing and amount of profit recognition are subject to change depending on factors such as the progress of clearance and approval procedures under competition laws in relevant countries and foreign exchange fluctuations. Transaction Overview Strategic Objectives Value Creation 8 和：純利益への影響額は300億円程度を見込む ✓ 「当社株主に帰属する当期純利益」への影響額は300億円程度の増益になると見込まれるが、当該影響額は関係各国にお ける競争法に基づく許認可手続きの進捗や為替の変動、その他の要因により利益計上時期や金額が変動する可能性あり Agreement Reached on Strategic Partnership Regarding Aviation Capital Group (ACG) ✓ Tokyo Century to transfer a 50% stake in ACG, a wholly owned subsidiary, to ITOCHU Corporation ✓ ACG to transition to a 50:50 joint management structure between ITOCHU and Tokyo Century Enhancing ACG’s Competitiveness by Combining Strengths and Expanding Scale ✓ Consolidation within the aircraft leasing industry accelerating. Major players seeking economies of scale. ✓ Further scale expansion is essential for ACG to evolve into a top-tier global leader ✓ ITOCHU’s participation strengthens ACG's financial base, driving agile scale expansion and enhanced competitiveness Elevating ACG’s Market Presence by utilizing Aviation Value Chains ✓ Provide ACG with capabilities across both companies' aviation value chains to generate synergies, boosting presence and expanding business opportunities ✓ Drive growth investment for ITOCHU and business portfolio transformation for Tokyo Century through this transaction
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. Overview of the Share Transfer 9 Post-transaction, ACG will be jointly owned by ITOCHU and Tokyo Century. *1 TC Skyward Aviation U.S., Inc. *2 Non-ACG-related assets and businesses held by SKY-U are expected to be carved out prior to execution of the transaction.. ACG Tokyo Century 100% 100% SKY-U*1 (Consolidated subsidiary) Japan U.S. ACG Tokyo Century 50% 100% SKY-U*2 50% ITOCHU (Equity-method affiliate) (Equity-method affiliate) Transfer of 50% Share in SKY-U Current Post-Transaction ACG to become an equity-method affiliate of Tokyo Century and ITOCHU
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. Global Aircraft Demand Outlook Aviation Market Outlook Growing aviation demand is projected to drive further expansion of the aircraft leasing market. 10 Source: Airbus (released in October 2025) 2024年 2044年 (予想) Approx. 25,000 Approx. 49,000 New Demand Replacement Demand for New Technology AircraftExisting Fleet Existing Fleet Demand for New Aircraft: Approx. 43,000 aircraft approx. 80% narrowbodyNarrowbodies driving global demand growth ◼ Air passenger traffic is projected to grow at a CAGR of 3.8% through 2044, driven by expanding demand in Asia and Africa. ◼ Driven by the expanding market share of LCCs and the enhancement of short- to medium-haul routes, liquid narrowbody aircraft are expected to account for approximately 80% of future new aircraft demand. ◼ With the rise in passenger traffic, the global aircraft fleet is forecast to double by 2044, supporting the expected continuous growth in the aircraft leasing market. 2024 2044 (Expected)
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. Aircraft Leasing Competition and Tokyo Century’s Challenges Industry consolidation through M&A is advancing, accelerating competition driven by scale 11 Top 10 Global Aircraft Lessors (by Total Fleet Count) Competitive Advantages of Scaling ◼ Enhanced financing capabilities backed by a robust financial foundation and high creditworthiness ◼ Greater access to order slots of major OEMs ◼ Portfolio diversification (regions, customers, and aircraft types) and risk mitigation ◼ Stronger originating capability for large- scale transactions Tokyo Century’s Challenges in Scaling ACG ◼ Scaling up is essential in order to rise up the ranks of top tier aircraft lessors amid rapid growth of the aviation market and sector consolidation. ◼ From the perspectives of capital capacity and risk volume, allocating focused growth capital to the aircraft leasing business presents a challenge for Tokyo Century on a standalone basis. Source: Prepared by Tokyo Century based on KPMG “Aviation Leaders Report 2026" 2,012 1,818 1,145 795 696 543 492 449 448 364 Aercap SMBC Aviation Capital Avolon BOC Aviation DAE Capital BBAM ICBC Leasing CDB Aviation Aviation Capital Group Carlyle Aviation Target a top 5 position, driven by strengths such as new aircraft procurement ←レッサーランキング コミット機体数も入れた カウントに修正
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. Risk management framework Asset value insight Aviation value chain Financial expertise 12 Global network Robust financial foundation Expansion into peripheral businesses Expand ACG's Scale to Target a Top-Tier Industry Position Business origination Joint Management ◼ Further strengthen ACG's management and financial foundation. ◼ Enhance competitiveness via expanded options (e.g., joint aircraft acquisition). ◼ Enhance profitability and asset efficiency through synergies. Value Co-Creation for ACG’s Accelerated Growth Fully leverage both companies' strengths, expertise, human resources, and assets to pursue further growth for ACG. Value Delivered to ACG Value Delivered to ACG
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. 13 Expansion of Aviation Business HALO GA Telesis Jetstar Japan Financial and Aviation Business Expertise Japanese Operating Lease Airlines Aviation Loan Fund MRO/Engine Leasing/ Mid- to End-of-Life Aircraft & Parts Trading Used Parts Sales Enhanced Cooperation in Domestic Trading Expanded options (e.g., joint purchasing) Extensive Customer BaseHigh-Quality Portfolio KILLICK Collaboration & Synergies Across the Aviation Value Chain Further enhance ACG's presence by leveraging both shareholders' aviation value chains. Global Network & Aircraft Business Expertise IC Aero Aircraft Leasing for Domestic Investors Aircraft Leasing for Overseas Investors SIRIUS Aircraft Maintenance business (Approved project)
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. Portfolio Transformation Under Tokyo Century's Medium-Term Management Plan 2030 14 Transitioned aircraft leasing (ACG), designated as a "Recovery & Improvement Business," to a joint ownership with ITOCHU 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 2026年3月末 2031年3月末 Segment Assets Growth/Strategic Businesses Core Businesses Recovery & Improvement Businesses ¥1 trillion ¥6.3 trillion ¥7.2 trillion ¥3 trillion ¥2 trillion ¥3.5 trillion ¥3.5 trillion Transitioning to Core Businesses ✓ Aligned with the Portfolio Strategy outlined in our Medium-Term Management Plan 2030 ✓ Deconsolidating ACG expands our capital capacity, driving investment in "Growth/Strategic Businesses." • Areas of high profitability and market potential, targeted for active investment Growth Businesses FMV Lease MRO Battery Storage Data Center Overseas Mobility Corporate Investment Aviation Leasing • Capitalize on anticipated market growth to expand ACG in scale and profitability, transforming it into a vital portfolio pillar. March 31, 2026 March 31, 2031 As a result of this transaction, segment assets are expected to decrease by approx. ¥1.7 trillion as of the end of March 2027.
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. Transaction Details ACG will be deconsolidated and become Tokyo Century's equity-method affiliate. Target TC Skyward Aviation U.S., Inc. (Tokyo Century's consolidated subsidiary) Buyer ITOCHU Corporation Ownership of ACG 【Pre-Transaction】 Tokyo Century: 100% (Consolidated subsidiary) 【Post-Transaction】 Tokyo Century: 50% (Equity-method affiliate) ITOCHU: 50% (Equity-method affiliate) Purchase Price USD 1,946 million (Planned) The purchase price has been mutually agreed upon based on a comprehensive assessment between Tokyo Century and ITOCHU, taking into account ACG’s financial condition as of December 31, 2025 (the valuation base date), various adjustments (the special dividend to be paid by ACG to Tokyo Century prior to the Share Transfer and deferred tax liabilities at SKY-U), and ACG's growth potential. Independent valuation reports from Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. and UBS Securities Co., Ltd., have been obtained to confirm the fairness of the purchase price. Schedule August 3, 2026: Resolution by the Boards of Directors of ITOCHU and Tokyo Century August 3, 2026: Execution of the Memorandum of Understanding (MOU) August 2026 (Expected): Execution of the Definitive Agreement November 2026 (Expected): Transfer of shares Note: The above schedule reflects current plans and is subject to change based on future discussions. Any future schedule changes or cancellation of this share transfer will be disclosed promptly. 15
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. 16 Results by Operating Segment
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. (Billions of yen) FY2025 Q1 FY2026 Q1 YoY FY2026 Forecast % Progress Net income 6.9 8.1 1.2 25.3 32.1% NTT TC Leasing 1.4 2.4 1.0 Gains on sales & Impairment losses *1 (0.1) 0.0 0.1 ROE *2 21.5% 24.6% 3.1 pts Mar. 31, 2026 Jun. 30, 2026 Change Segment Assets 1,307.7 1,290.6 (17.1) 122 110 70 96 106 93 83 104 104 142 167 142 140 152 134 148 濃 ・ 薄 TC ブルー 国 内 リ ー ス ｵｰﾄﾓﾋﾞﾘﾃｨ スペシャルティ 国際 環 境 イ ン フ ラ Results of Domestic Business ┃Key Factors ┃売却益・減損等の主な内訳 Net income increased; higher earnings from joint ventures with NTL and other partners. （億円） ┃Performance of NTL (TC’s equity in earnings of NTL) Net income increased, primarily driven by an increase in segment assets (up ¥1.0 billion YoY , incl. a ¥0.5 billion FX impact). 前年のROE →ハイフンにしておく 中計で出したROEを入れる 注記つけとく NTL Segment Asset Trends & Focus Areas （Billions of yen） Aim to build quality operating assets based on three strategic pillars Expansion of Businesses Related to the NTT Group ⚫ Expand collaborative business with the ＮＴＴ Group and contribute to asset strategies ⇒Financing for overseas data centers, ITAD services, etc. Expansion of Growth Areas ⚫ Strengthen co-creation and collaboration with partners in environment, real estate, education, etc. ⇒Air conditioners for schools, public-private partnership projects, GIGA School initiative, etc. Strengthening of Collaborative Leasing ⚫ Explore new dealers and commercial products ⇒Collaboration with dealers referred by TC, deepening tie- ups with the NTT Group 17 Ownership: 50% *1 After-tax basis *2 Estimated value グラフの数値ベタ打ちなので 修正あったら注意→ 1,743.0 1,962.0 1,949.9 2,170.2 2,163.6 2,467.3 2,410.6 15,000 25,000 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2023年度 2024年度 2025年度 2026 年度 Segment Assets Quarterly Net Income 3.7 3.5 3.1 4.7 4.3 1.7 5.0 2.8 2.8 3.8 5.0 5.7 4.8 Cumulative Net Income ¥15.0billion ¥13.8billion ¥17.3billion Q1 Q2 Q3 Q4 FY2025 Q1 FY 2026 FY2023 FY2024 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1,500 2,500 もし余裕がありましたら、表のキャピタライズを統一し ていただけますでしょうか。 Gains on sales & Impairment losses → Gains on sales & impairment losses Segment Assets →Segment assets 表の右端と下端の線が消えていますがOKですか。
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. (Billions of yen) FY2025 Q1 FY2026 Q1 YoY FY2026 Forecast % Progress Net income 3.6 5.0 1.4 26.5 18.7% CSI 1.2 3.4 2.2 Gains on sales & Impairment losses *1 1.5 62.6% (0.8) ROE *2 14.4% 23.5% 9.1 pts Mar. 31, 2026 Jun. 30, 2026 Change Segment Assets 926.1 955.4 29.4 CSI 505.0 528.0 23.0 濃 ・ 薄 TC ブルー 国 内 リ ー ス ｵｰﾄﾓﾋﾞﾘﾃｨ スペシャルティ 国際 環 境 イ ン フ ラ 18 Net income increased as CSI's solid performance and extraordinary income from settlement proceeds more than offset the absence of prior- year gains on sales. FY2026: ・ Extraordinary income (settlement proceeds received): ¥0.8 billion FY2025: ・ Gains on sales of operational investment securities: ¥1.5 billion 和解金 →短信に合わせる Business Portfolio Transformation FY2026 Policy ✓ Enhance capital efficiency by rationalizing existing locations and selling investment securities. Announcement in June 2026 Resolved to dissolve and liquidate TC Asia (a wholly-owned Singapore subsidiary established for investment and shareholding in Asia) Future Outlook ✓ Realization of FX gains through location rationalization: Already factored into current FY plan Results of Global Business ┃Key Factors ┃Gains on Sales & Impairment Losses *2 Estimated value *1 After-tax basis 和：前年同期に計上した売却益が剥落したものの、CSIが堅に推移したほか、 和解金受領による特別利益も寄与し増益 もし余裕がありましたら、表のキャピタライズを統一し ていただけますでしょうか。 Gains on sales & Impairment losses → Gains on sales & impairment losses Segment Assets →Segment assets 表の右端と下端の線が消えていますがOKですか。
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. 780 1,162 1,248 1,291 1,406 1,405 415 615 762 743 849 863 299 491 575 602 761 759 21 51 74 91 116 174 完全子会社化した 2016年 12月期末 2022年 12月末 2023年 12月末 2024年 12月末 2025年 12月末 2026年 3月末 780 1,162 1,248 1,291 1,406 415 615 762 743 849 299 491 575 602 761 21 51 74 91 116 完全子会社化した 2016年 2022年 12月末 2023年 12月末 2024年 12月末 2025年 12月末 2,318 濃 ・ 薄 TC ブルー 国 内 リ ー ス ｵｰﾄﾓﾋﾞﾘﾃｨ スペシャルティ 国際 環 境 イ ン フ ラ CSI’s Financial Performance 1,515 2,659 2,727 3,201 ・・・ ＝16.6 19 58.9 61.7 63.9 70.4 3,132 Segment assets growing steadily Balance expansion will contribute to earnings over the next 2–3 years M&A Strategy FY2025 Acquisition Results • Jan.： Somov Rental Ltda. （folk lift rental) • Aug.: Aeroservicios USA, Inc. （GSE*3） ✓ Significant income growth, driven by large ITAD contracts and solid leasing transactions in North America ✓ Segment assets also expanding steadily Segment Assets by Region North America (USD million) Latin America Europe Asia Net income Dec. 31 2016*1 Dec. 31 2025 Dec. 31 2024 Dec. 31 2023 Dec. 31 2022 Mar. 31 2026 • Contract formation and management processes established for FMV lease • Versatile business model that is not dependent on particular products and markets • Geographical coverage across 50 countries • Substantial track record of M&A and overseas business development CSI’s Strengths and Expertise *2 FMV lease: A flexible lease agreement that allows customers to select an option from among return, purchase, extension, etc. at the end of their lease term, where the price for the option is decided based on the then-current fair market value (FMV) *3 GSE （Ground Support Equipment） business focuses on the management, maintenance, and sales of specialized airport vehicles and equipment for aircraft ground operations, including cargo handling, towing, and power supply. • Positioned FMV leasing*2 as a growth business under the Medium-Term Management Plan, actively driving M&A • Exploring targets to enhance IT equipment leasing, as well as areas highly compatible with FMV leasing that leverage CSI's strengths FMV Lease Specialized Nature of Assets Ex.: IT, GSE, and material handling equipmentFinance Lease M&A Targets Investment scale per transaction: USD 30–100 million CSI Group (USD million) FY2025 Q1 FY2026 Q1 YoY Net income 10 24 14 Contract value 370 501 130 Dec. 31, 2025 Mar. 31, 2026 Change Segment assets 3,132 3,201 70 *1 CSI Leasing became Tokyo Century’s wholly owned subsidiary.
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. (Billions of yen) FY2025 Q1 FY2026 Q1 YoY FY2026 Forecast % Progress Net income 2.4 3.3 0.9 18.9 17.4% Real Estate 1.8 2.3 0.5 Environmental infrastructure 0.0 0.6 0.6 Gains on sales & Impairment losses *1 0.5 0.9 0.4 ROE *2 3.1% 4.4% 1.3 pts Mar. 31, 2026 Jun. 30, 2026 Change Segment Assets 1,083.9 1,105.6 21.7 Real Estate 859.0 878.1 19.2 Environmental infrastructure 225.0 227.5 2.6 濃 ・ 薄 TC ブルー 国 内 リ ー ス ｵｰﾄﾓﾋﾞﾘﾃｨ スペシャルティ 国際 環 境 イ ン フ ラ FY2026： ・ Gains/losses on sales in real estate: ¥0.9 billion FY2025： ・ Gains/losses on sales in real estate: ¥0.5 billion 今期： 20 Real Estate Income increased, primarily driven by higher gains on sales Environmental Infrastructure Income increased, primarily driven by strong performance in overseas renewable energy operations Initiatives for Functional and Geographic Expansion Promoting Capital-Light Strategy & Partner Collaboration ✓ Enhanced hotel asset management (AM) capabilities through a capital and business alliance with Flat Collaboration ✓ Agreed to jointly acquire Crowne Plaza Changi Airport as the second strategic collaboration with OUE Consolidating Business Foundations & Expertise in Focus Areas ✓ Consolidating expertise and personnel to strengthen operational structure in the data center business Results of Social Infrastructure ┃Key Factors ┃Gains on Sales & Impairment Losses *2 Estimated value *1 After-tax basis 日本語変更あり 不動産事業の売却損益 もし余裕がありましたら、表のキャピタライズを統一し ていただけますでしょうか。 Gains on sales & Impairment losses → Gains on sales & impairment losses Segment Assets →Segment assets Real Estate（2箇所） →Real estate 表の右端と下端の線が消えていますがOKですか。
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. 381.9 401.8 274.2 280.3 202.9 196.0 559.9 675.5 758.8 859.0 878.1 Mar. 31, 2023 Mar. 31, 2024 Mar. 31, 2025 Mar. 31, 2026 Jun. 30, 2026 Japan (leasing, development projects, etc.) Overseas (fund investments, etc.) TC Kobelco Real Estate 濃 ・ 薄 TC ブルー 国 内 リ ー ス ｵｰﾄﾓﾋﾞﾘﾃｨ スペシャルティ 国際 環 境 イ ン フ ラ Real Estate Business Changes in Segment Assets Japan Collaboration with prime partners underway for large-scale urban development projects, etc. Overseas Key components: data centers that are expected to grow in demand, logistics facilities and rental housing experiencing ongoing stable growth TC Kobelco Real Estate Steady increase in project pipelines such as logistics facilities Many development projects underway together with prime partners in Japan and overseas （Billions of yen） TOKYO TORCH 2026 and beyond2025 Legendary-luxury brand Dorchester Collection Torch Tower (Building B)U.S. Data Center Development South Zone Tower Mitsubishi Estate HIBIYA CROSSPARK 21 ✓ Expand collaboration with partners and promote asset recycling to enhance earnings power Changes in Portfolio Project Track Record & Completion Schedule NTT Urban Development OUE Singapore Hotel Indigo Changi Airport Singapore Crowne Plaza Changi Airport *2 Harajuku Quest (Completed in August 2025) *2 The Crowne Plaza Changi Airport is scheduled to undergo renovation following the joint acquisition. (31.9%) (45.8%)(44.5%) (25.4%) (31.9%) (22.3%) 注記が入りました *1 Figures up to March 31, 2025 are based on previous segments (excl. DC in the former International Business segment) *1 *1 *1
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. 現在 FY2030 FY2035 濃 ・ 薄 TC ブルー 国 内 リ ー ス ｵｰﾄﾓﾋﾞﾘﾃｨ スペシャルティ 国際 環 境 イ ン フ ラ DC Projects with NTT and Mitsubishi Estate Profitability of DC Projects in the U.S. (Source: a study by a research firm) -60,000 -40,000 -20,000 0 20,00 0 40,00 0 60,00 0 -1,000,00 0 -800,000 -600,000 -400,000 -200,000 0 200 , 0 00 400 , 0 00 600 , 0 00 800 , 0 00 1,000 ,000 ・・・ Project assets Consolidated ordinary income*1 Unrealized gains*2 (% of total investment) Funding costs precede earnings during the initial development period (Source: Prepared by Tokyo Century based on U.S. DC research firm data) *1 Net income after factoring in interest costs on invested capital and goodwill amortization to DC project profits. *2 Calculated based on historical cap rates for U.S. DCs (Source: a research firm) 40％ 20％ Achieving stable cash flows and high EBITDA margins from Year 3 onward While funding costs precede earnings during the initial development period, cash flows become stable once operational, delivering high EBITDA margins. Unrealized gains expand as the project progresses, reaching approximately 40% of total investment by Year 7. DC Business Earnings Projection Unrealized gains expand over time NTT Group Jun. 2021: Started collaboration Feb. 2024: Commenced joint investment in Chicago, U.S. (a high-growth market) Business Operations ¥100 billion ¥900 billion Total Data Center Asset Value (Plan) Approx. 9x growth expected in 10 years Mitsubishi Estate, etc. May 2021: Started collaboration Decided to make an investment commitment exceeding USD 495 million for U.S. data center development Real Estate Investment Tokyo Century's DC Projects Data Center Business ✓ Expanding data center (DC) business through partnership with NTT DATA and Mitsubishi Estate Current Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 22
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. １ 2 4 3 濃 ・ 薄 TC ブルー 国 内 リ ー ス ｵｰﾄﾓﾋﾞﾘﾃｨ スペシャルティ 国際 環 境 イ ン フ ラ Domestic Energy Storage Business Strategies 23 Tokyo Century’s Strengths 1 2 Key Partners High Liquidity Partnerships Full equity ownership and self-originated development enable flexible asset sales and fund integration. Enable business expansion spanning from asset development and monetization to AI-driven aggregation, asset management, and future fund management. FY2025 Key Results ◼ Committed to investing in proprietary development of 4 grid-scale (EHV) battery storage sites (101 MW) ◼ Commenced commercial operation of Iwate Kitakami Storage Power Station (high-voltage) ◼ Committed to investing in grid-scale EHV battery storage project (67MW) in Chikuzen, Fukuoka, with Mitsubishi Estate and ITOCHU Approx. 600 MW business foundation secured Committed & Under Development （Over 500 MW） Operating （Approx. 15 MW) Enhancing capital efficiency by generating diverse fee revenues through asset management and aggregation even after asset sales Earnings from Ownership & Operation Gains on Sales & Recurring Revenues ① Electricity supply via wholesale power markets ② Grid balancing ③ Provision of future supply capacity ④ Gains on asset sales (incl. pre-operational assets) ⑤ Fund formation and management fees ⑥ Operational earnings from aggregation Operation & Monetization Reinvesting within a fixed capital allowance to sustain the business foundation Reinvestment Development Asset Recycling ヘッダーだけ青 あとは背景を白にする Overview of Grid-Scale Energy Storage Business - Steadily advance the development of approx. 600 MW committed capacity to expand the business foundation. - Aim to maximize full-merchant earnings, as well as gains on sales through a capital-light model utilizing external capital. Iwate Kitakami Power Storage Station, a grid storage operated by Tokyo Century Revenue Diversification and Future Outlook In-house development centered on high- quality, full-merchant assets Asset sales and fund formation with strategic partners Generating recurring fee income as an aggregator, AM, and GP
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. (Billions of yen) FY2025 Q1 FY2026 Q1 YoY FY2026 Forecast % Progress Net income 3.5 12.2 8.7 35.4 34.6% Aviation 3.8 9.5 5.8 Shipping 0.0 2.9 2.8 Gains on sales & Impairment losses *1 (0.0) -0.4 (0.4) ROE *2 4.6% 14.0% 9.4 pts Mar. 31, 2026 Jun. 30, 2026 Change Segment Assets 2,248.7 2,348.7 100.0 Aviation 2,150.6 2,239.3 88.7 Shipping 97.1 108.5 11.3 濃 ・ 薄 TC ブルー 国 内 リ ー ス ｵｰﾄﾓﾋﾞﾘﾃｨ スペシャルティ 国際 環 境 イ ン フ ラ Aviation Income increased, primarily driven by higher gains on sales of aircraft at ACG and Tokyo Century amid strong market conditions FY2026: ・ Impairment losses on aircraft leasing assets: (¥0.5 billion) 24 Shipping Income increased, primarily driven by gains on sales of ships at equity-method affiliates 「実額」 追加 ＋は消す FY26： ・持分法適用会社での売船（21億円／ 4月､5月各1隻） FY25： ・ 航空機事業のロシア保険和解金 （＋650） ・ 不動産事業、事業投資等の売却益 (+155) ・ 航空機リース資産、不動産に関連する資産やのれん等 の減損(－103) FY24: ・ 不動産事業、事業投資等の売却益 (+91) ・ 航空機リース資産の減損等(－39) Results of Transport ┃Key Factors ┃Gains on Sales & Impairment Losses *2 Estimated value *1 After-tax basis 表のFY2026Q1のGains on sales & Impairment lossesの数値は(0.4)にすべきかと思います。確認をお 願いいたします。 もし余裕がありましたら、表のキャピタライズを統一し ていただけますでしょうか。 Gains on sales & Impairment losses → Gains on sales & impairment losses Segment Assets →Segment assets 表の下端の線が消えているのはOKですか。
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. (USD million) 281 323 42 249 275 26 27 39 11 254 279 25 94 106 12 0 8 8 26 44 18 26 40 15 Dec. 31, 2025 Mar. 31, 2026 Change 12,565 12,904 339 278 281 3 Number of owned aircraft ACG's Result YoY Change Total expenses Interest expense, net Asset impairment and provision for credit losses Income/loss before income taxes FY2025 Q1 FY2026 Q1 Total revenues Operating lease revenue Gain on sale of flight equipment, net Net Income/Loss Segment assets 11 14 6 12 17 74 22 12 27 16 2026 2027 2028 2029 2030以降 エアバス ボーイング 受領済み 濃 ・ 薄 TC ブルー 国 内 リ ー ス ｵｰﾄﾓﾋﾞﾘﾃｨ スペシャルティ 国際 環 境 イ ン フ ラ ✓ Pre-tax income up 67% YoY, driven by higher lease revenue and gains on asset sales. 25 Portfolio Total Fleet: Weighted Average Fleet Age: Expected FY2026 Deliveries: 47 aircraft Owned: 281, Managed: 30, Committed: 200 （機体数ベース：95%） 511 5.3 years 83 % Narrowbody (% of NBV): （94% by count）83% China 3% United States & Canada 12% Asia Pacific 21% Middle East & Africa 8% Global Operations （機） 47 18 39 33 74 Delivery Schedule of Committed Aircraft Europe 40% Central America, South America & Mexico 15% Europe 39% Asia 24% Central America, South America & Mexico 16% Middle East & Africa 9% United States & Canada 13% （As of March 31, 2026) （As of March 31, 2026) （As of March 31, 2026） 2026年1月 ボーイング50機を追加発注 （2032～2033年受領予定) ＋ Airbus Boeing Delivered ACG’s Financial Performance (Aircraft) 2030 and beyond もし余裕がありましたら、表のキャピタライズを統一し ていただけますでしょうか。 Net Income/Loss → Net income/loss 表の右端の線が消えているのはOKですか。
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. ① オペリ収入・支払利息・FF金利の四半期推移 249 253 253 251 250 217 215 220 216 209 204 249 212 204 216 256 233 258 283 285 283 253 258 247 249 262 272 266 275 72 73 74 77 67 69 73 72 76 64 62 67 58 63 76 90 96 103 108 109 103 105 107 96 94 97 98 107 106 2.50% 3.75% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 0 50 100 150 200 250 300 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 オペリ収入 支払利息 FF金利 0 10 14 46 10 1 0 1 12 4 4 △ 2 1 0 0 5 1 1 10 4 15 5 54 44 27 22 38 57 39 (10) 0 10 20 30 40 50 60 70 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 70 12 18 6 16 118 145 1,006 901 1,059887879 1,040 1,049 417 286269281297 410 396 26 ACG’s Earnings Power 1. Operating Lease Revenue, Interest Expense and Federal Funds Rate Federal funds rate Interest expense, net Operating lease revenue （USD million） Annual Total 2. Gains on Sales of Flight Equipment, Net Annual Total
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. (Billions of yen) FY2025 Q1 FY2026 Q1 YoY FY2026 Forecast % Progress Net income 6.5 7.4 0.9 20.6 35.8% NCS 3.1 3.6 0.5 NRS 3.2 3.7 0.5 Others 0.2 0.1 (0.2) Gains on sales & Impairment losses *1 0.1 0.4 0.4 ROE *2 49.6% 51.6% 2.0 pts Mar. 31, 2026 Jun. 30, 2026 YoY Segment Assets 548.4 571.2 22.8 NCS 399.3 401.3 2.1 NRS 44.5 44.0 (0.5) Other 104.7 125.9 21.3 4.4 2.6 5.4 2.0 5.0 3.4 5.7 3.0 5.4 3.8 6.2 3.4 6.4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY2023 FY2024 FY2025 FY26 2019/4 2020/4 2021/4 2022/4 2023/4 2024/4 2025/4 2026/4 200 濃 ・ 薄 TC ブルー 国 内 リ ー ス ｵｰﾄﾓﾋﾞﾘﾃｨ スペシャルティ 国際 環 境 イ ン フ ラ Index: April 2019 = 100 213 for June 2026 ┃売却益・減損等の主な内訳 27 NRS’s Ordinary Income (Billions of yen)Trends in Used Car Prices NCS Higher gains on vehicle sales and lease revenue absorbed cost increases (funding and SG&A costs), driving profit growth. NRS Achieved record-high Q1 profit, as strong inbound demand capture and higher gains on vehicle sales absorbed rising SG&A and other costs. Results of Mobility ┃Key Factors Source: Created by Tokyo Century based on auction data (prices of vehicles sold) of USS, a leading used car auction provider in Japan Full-year Total 17.1 Full-year Total 14.4 Full-year Total 18.8 All-Time High Forecast 3.3 100 Used car prices have more than doubled compared to April 2019 Record High for Q1 *2 Estimated value *1 After-tax basis ┃Gains on Sales & Impairment Losses Ownership: 59.5% Ownership: 88.6% FY2026: Gains on sales of investment securities etc.: ¥0.4 billion もし余裕がありましたら、表のキャピタライズを統一し ていただけますでしょうか。 Gains on sales & Impairment losses → Gains on sales & impairment losses Segment Assets →Segment assets 表の右端と下端の線が消えているのはOKですか。
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. (Billions of yen) FY2025 Q1 FY2026 Q1 YoY FY2026 Forecast % Progress Net income 1.6 1.4 (0.2) 6.1 22.5% Gains on sales & Impairment losses *1 1.8 1.5 (0.3) ROE *2 9.1% 5.9% (3.2 pts) Mar. 31, 2026 Jun. 30, 2026 YoY Segment Assets 92.0 91.9 (0.1) 2026年 6月末 2031年 3月末 濃 ・ 薄 TC ブルー 国 内 リ ー ス ｵｰﾄﾓﾋﾞﾘﾃｨ スペシャルティ 国際 環 境 イ ン フ ラ 28 Collaboration with Advantage Partners (AP) - Acquired additional shares in the AP Group in September 2025, making it an equity-method affiliate. - Aim to expand the corporate investment business by further deepening collaboration while maintaining AP's independence. Corporate Investment Segment Assets (Plan) Full-Scale Entry into Real Estate Fund Business In April 2026, the AP Group launched a full-scale real estate investment strategy—one of the largest among Japanese PE firms—leveraging strengths cultivated in PE buyouts. It plans to invest ¥500 billion over five years. Latest Developments at the AP Group Launch of One of the Largest Buyout Funds in Japan In May 2026, the AP Group established a ¥300 billion fund, one of the largest for a Japanese PE firm. It encourages corporate carve-outs of large enterprises and privatization of mid-sized companies, and also handles large-scale investments of several hundred billion yen per transaction. AP-related assets (incl. investments in AP) Corporate investment assets excl. AP-related assets 91.9 More than 200 78.1 Expanding business centered on collaboration with AP Generating gains on sales by driving the investment and exit cycle Net income decreased due to lower capital gains FY26/1Q: ・ Blackstone ISG Investment Partner ＝レゾリューションライフ 売却益（+14) FY25/1Q: ・ AP関連を含むファンドからの取込益（+18） （・AP5(FICT) +15） （・Ｋ&C１号投資事業有限責任組合 +3） 持分法取込益/サステナバッテリー（+2） 投資有価証券の売却益 APの取込は2Qから 書いとく FY2026: ・ Gains on sales of operational investment securities: ¥1.5 billion FY2025: ・ Gains on sales of operational investment securities: ¥1.8 billion Results of Corporate Investment ┃Key Factors ┃Gains on Sales & Impairment Losses (Billions of yen) June 30, 2026 March 31, 2031 *1 After-tax basis *2 Estimated value 余裕がありましたら、 表のキャピタライズを統一していただけますでしょう か。 Gains on sales & Impairment losses → Gains on sales & impairment losses Segment Assets →Segment assets 表の下端の線が消えているのはOKですか。
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. (Billions of yen) FY2025 Q1 FY2026 Q1 YoY FY2026 Forecast % Progress Net income 6.5 7.4 0.9 20.6 35.8% NCS 3.1 3.6 0.5 NRS 3.2 3.7 0.5 Others 0.2 0.1 (0.2) Gains on sales & Impairment losses *1 0.1 0.4 0.4 ROE *2 49.6% 51.6% 2.0 pts Mar. 31, 2026 Jun. 30, 2026 YoY Segment Assets 548.4 571.2 22.8 NCS 399.3 401.3 2.1 NRS 44.5 44.0 (0.5) Other 104.7 125.9 21.3 4.4 2.6 5.4 2.0 5.0 3.4 5.7 3.0 5.4 3.8 6.2 3.4 6.4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY2023 FY2024 FY2025 FY26 2019/4 2020/4 2021/4 2022/4 2023/4 2024/4 2025/4 2026/4 200 濃 ・ 薄 TC ブルー 国 内 リ ー ス ｵｰﾄﾓﾋﾞﾘﾃｨ スペシャルティ 国際 環 境 イ ン フ ラ Index: April 2019 = 100 213 for June 2026 ┃売却益・減損等の主な内訳 29 NRS’s Ordinary Income (Billions of yen)Trends in Used Car Prices NCS Higher gains on vehicle sales and lease revenue absorbed cost increases (funding and SG&A costs), driving profit growth. NRS Achieved record-high Q1 profit, as strong inbound demand capture and higher gains on vehicle sales absorbed rising SG&A and other costs. Results of Mobility ┃Key Factors Source: Created by Tokyo Century based on auction data (prices of vehicles sold) of USS, a leading used car auction provider in Japan Full-year Total 17.1 Full-year Total 14.4 Full-year Total 18.8 All-Time High Forecast 3.3 100 Used car prices have more than doubled compared to April 2019 Record High for Q1 *2 Estimated value *1 After-tax basis ┃Gains on Sales & Impairment Losses Ownership: 59.5% Ownership: 88.6% FY2026: Gains on sales of investment securities etc.: ¥0.4 billion 余裕がありましたら、 表のキャピタライズを統一していただけますでしょう か。 Gains on sales & Impairment losses → Gains on sales & impairment losses Segment Assets →Segment assets 表の右端と下端の線が消えているのはOKですか。
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. Reclassification of Operating Segments Effective from FY2026 (Fiscal Year Ending March 2027) Automobility Specialty Financing Aviation 濃 ・ 薄 TC ブルー 国 内 リ ー ス ｵｰﾄﾓﾋﾞﾘﾃｨ スペシャルティ 国際 環 境 イ ン フ ラ Shipping Real estate Principal Investment International Business Overseas leasing Auto (overseas) Data center Environmental Infrastructure Domestic BusinessEquipment Leasing Global Business Overseas leasing Social Infrastructure Real estate Data center Environmental infrastructure Transport Aviation Shipping Corporate Investment Principal Investment ✓ Consolidation of specialized knowledge and expertise into six business units Previous Segments New Segments 30 Auto (domestic) Domestic leasing Domestic leasing Mobility Auto (overseas) Auto (domestic) Environmental infrastructure
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. 31 Risk Assessment by Business Impact of the Middle East Situation Impact on FY2026 Profit Plan ⚫ No Middle East transactions ⚫ CSI: Closely monitoring demand slowdown due to rising semiconductor and memory costsGlobal Business ⚫ No Middle East transactions ⚫ Renewable energy: Closely monitoring the impact of higher electricity market prices and fuel costs due to crude oil/LNG price hikes Social Infrastructure ⚫ Closely monitoring potential used car price instability due to Middle East market stagnation ⚫ Closely monitoring potential decrease in rental car demand in Japan due to fewer inbound tourists, resulting from higher airfares amid rising crude oil prices Mobility ⚫ ACG: No material impact on the aviation business at present, despite having aircraft leasing transactions with Middle Eastern airlines Closely monitoring decline in air passenger demand and airline performance trends amid rising crude oil prices ⚫ Shipping: No impact on related shipping assets Closely monitoring the impact of maritime market instability Transport ⚫ Direct impact: Assumed to be limited at this time. No direct impact observed in Q1. ⚫ After-tax ¥2.0 billion risk buffer factored in for uncertainty ⚫ Indirect impact: Closely monitoring risks from a prolonged situation (e.g., rising interest rates/costs, lower demand, customer credit) 1Qアップデートメモ 国内ビジネス 海外ビジネス 社会インフラ トランスポート モビリティ 企業投資
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. 32 Appendix Tokyo Century’s Strengths and Partnerships
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. ✓ Business Models Built on Tokyo Century’s Unique Strengths (1) 濃 ・ 薄 TC ブルー 国 内 リ ー ス ｵｰﾄﾓﾋﾞﾘﾃｨ スペシャルティ 国際 環 境 イ ン フ ラ Value Creation Driven by Discerning Eye for Asset Value Businesses Focused on Asset Value Businesses Focused on Asset Value 社会への 価値創出 4 3 ２ 1 Sales Activities Provision of ICT equipment, automobiles, aircraft, ships, real estate, trucks, solar panels, etc. Identification of assets and services desired by customers Discernment of Asset Value Appraisal of appropriate value based on resale value calculated by accounting for estimated period of use Reduction of costs necessary for customers to use assets Earnings generated by providing assets customers desire (leasing, rental, financing, etc.) Flexible usage models and prices tailored to customer needsTokyo Century’s Strength Initial Earnings Creation of Value-Added Services One-stop supply of assets and services that realize customer convenience (asset management services for fleet, aircraft, etc., ITAD services, technical management, and more) Re-Leasing or Sale in Secondary Market Re-leasing or sale in secondary market of assets returned by customers Long-accumulated expertise for maximizing sale prices in secondary market Earnings from extension of leasing period or sale in secondary market of assets returned by customers (re-leasing, sales, etc.) Secondary Earnings Creation of Social Value ◼Provision of assets customers desire when needed ◼Management of customers’ assets to reduce their administrative burden ◼Distribution of used assets to promote reuse 33 ←備忘録：2024年の統合レポートの訳(Ability to propose flexible usage methods and prices based on customers’ usage goals)がわかりにくいので、リバイズしま した
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. Partnership Businesses ✓ Business Models Built on Tokyo Century’s Unique Strengths (2) 濃 ・ 薄 TC ブルー 国 内 リ ー ス ｵｰﾄﾓﾋﾞﾘﾃｨ スペシャルティ 国際 環 境 イ ン フ ラ Value Creation Driven by Excellence in Earning Trust of Customers Partnership Businesses 社会への 価値創出 3 ２ 1 Creation of Collaborative Projects Together with Partners Advancement of negotiations for developing collaborative projects based on understanding of asset-related issues faced by partners and new business ventures partners want to undertake using assets Provision of Financial Services Earnings from joint businesses, etc. Support for Asset Efficiency Support for asset efficiency through joint ownership of assets and businesses with customers as financer Accumulated Trust and Track Record Trust forged with customers over long history and track record of collaborative partnerships with numerous prime partners encouraging Tokyo Century to be chosen to hold customer assets or act as partner in joint businesses Tokyo Century’s Strength Supply of funding for collaborative projects as financer Joint investment and business operation with partners Undertaking of asset management Involvement of prime partners Income Gains Business Growth for Synergies Maximization of earnings through business growth while sharing risks via joint investment Utilization of Tokyo Century’s customer network and mutual coordination among five operating segments Principal investment etc.Capital Gains ◼Promotion of large-scale projects with social significance ◼Support for new pursuits of customers ◼Provision of social infrastructure indispensable to economic activities Creation of Social Value 34
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. DomesticOverseas Business Collaboration Map 濃 ・ 薄 TC ブルー 国 内 リ ー ス ｵｰﾄﾓﾋﾞﾘﾃｨ スペシャルティ 国際 環 境 イ ン フ ラ Strategic Alliances with Prime Partners ✓ Business collaborations with prime partners expanding in Japan and overseas Note: Corporate names under the logos are joint ventures with our business partners. NTT TC Leasing FLCS NX・TC Lease & Finance IHI Finance Support ITOCHU TC Construction Machinery Amada Lease FFG Lease Leasing & Finance ICT Leasing Leasing (incl. real estate) Leasing & Finance Construction Machinery Sales & Rental Leasing with Maintenance Services Leasing TC Tsukishima Energy Solution Digestion Gas Power Generation Solar power generation Solar Power Generation Energy Storage US: Data center development, fund investment Europe: Fund investment U.S. and Europe Renewable energy U.S. and Europe Data center Construction machinery finance Truck leasing and finance Leasing U.S. and India U.S. and Asia U.S. and Australia Asia 35 セグメント変更要 NTT、伊藤忠、富士通、NX（日通）、IHI、川崎重工、JFE、 MUFG→OK TC神鋼→OK 英訳OK MUFG・KOBELCO追加 Nippon Car Solutions Auto Leasing Principal investment Tokiwabashi Project (near Tokyo Station), etc. Principal Investment Real Estate TC Kobelco Real Estate Real Estate MUFG Finance and Leasing Leasing & Finance U.S. and Europe Urban redevelopment project, etc. Urban redevelopment project, etc. Advantage PartnersのPrincipal Investmentという語はそのままでOKですか。
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. 濃 ・ 薄 TC ブルー 国 内 リ ー ス ｵｰﾄﾓﾋﾞﾘﾃｨ スペシャルティ 国際 環 境 イ ン フ ラ Partnership with the NTT Group 16,961 24,458 2021 2025 2005: Start of Partnership 2020: Capital & Business Alliance Evolving into a strategic partnership across diverse business sectors Launched joint operations in the U.S. and India Collaboration Areas Leasing Auto Leasing Data Center Financing Real Estate Solar Power ・・・ （Millions of yen) Established joint venture for leasing and financing Ordinary Income Expansion of Collaboration in Growth Areas 2021: Start of Data Center Business Founded NCS — Grew into an industry leader Ownership Tokyo Century: 59.5% NTT: 40.5％ Ordinary Income Ownership Tokyo Century: 50% NTT: 40％ NTT Finance: 10％ - Transfer of a 30% JV stake held by a TC subsidiary to JICT - Tri-party collaboration (TC, NTT Group, JICT): Further expand business and enhance value Expansion of Strategic Collaboration in Chicago Projects （Millions of yen) January 2026 Release 9,283 12,420 15,502 2015 2020 2025 36
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. 37 ✓ Launching joint initiatives in aviation in FY2026, alongside ongoing projects in construction machinery finance, environment, and energy. Expanding collaboration further into promising growth sectors. Construction Machinery & Finance Renewable Energy & Storage Batteries Aviation The Grid-Scale Energy Storage System (Rendering)Reference: Business Structure 0 500 1,000 1,500 2024年 3月末 2025年 3月末 2026年 3月末 （USD million） Steady Increase Operating Asset Trend (ZAXIS Finance standalone) Collaboration expanding since 2019 2019: Joint investment in ITOCHU TC Construction Machinery 2022: Establishment of ZAXIS Finance 2024: Partnership with Morooka and ITOCHU to expand construction machinery sales in North America Overview of ZAXIS Finance • A finance company for construction machinery established jointly with ITOCHU and Hitachi Construction Machinery in North America. • Earnings are growing steadily alongside the accumulation of operating assets. Collaboration expanding since 2021 2022: Investment in Clean H2 Infra Fund 2024: Acquisition of solar power development rights in North America 2026: Partnership with ITOCHU and Mitsubishi Estate in grid-scale battery storage Extra-High Voltage Grid-Scale Battery Facility (Chikuzen-machi, Fukuoka) • Construction began in May 2026 for an extra- high voltage grid-scale battery facility, jointly invested in and operated with ITOCHU and Mitsubishi Estate. • Commercial operation expected to begin in FY2027 Overview • Site Area: 26,000 m2 • Rated Output: 67 MW • COD: January 2028 （Scheduled) Collaboration launched in 2026 Key Initiatives Ownership: 35% Proposes finance products and establish screening and credit control systems. Ownership: 35% Ownership: 30% Partnership with ITOCHU March 31, 2024 March 31, 2025 March 31, 2026 Accelerating ACG's growth through value co-creation with ITOCHU • August 2026: Announced the shift into a joint ownership of ACG with ITOCHU • Robust financial foundation • Global network • Business origination • Expansion into peripheral businesses Direction of Collaboration Expand ACG's Scale to Target a top 5 Industry Position - Further strengthen ACG's management and financial foundation. - Enhance competitiveness via expanded options (e.g., joint aircraft acquisition). - Improve profitability and asset efficiency through synergies. Fully leverage both companies' strengths, expertise, human resources, assets, etc. ←Accelerating…はACG資料の原さんの訳に合わせています • Expertise in asset value • Risk management framework • Financial capabilities • Aviation value chain
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. 濃 ・ 薄 TC ブルー 国 内 リ ー ス ｵｰﾄﾓﾋﾞﾘﾃｨ スペシャルティ 国際 環 境 イ ン フ ラ * Equity-method affiliates 38 Examples of Collaboration with Partners TC Partners FLCS Co., Ltd. 80% Fujitsu Limited: 20％ IT equipment leasing IHI Finance Support Corporation 66.5% IHI Corporation: 33.5% General leasing and finance TC Tsukishima Energy Solution LLC 90% TSUKISHIMA HOLDINGS CO., LTD.: 10％ Sale of electricity generated using biogas Amada Lease Co., Ltd. 60% AMADA CO., LTD.: 40％ General leasing NTT TC Leasing Co., Ltd. * 50% NTT, Inc.: 40％ NTT FINANCE CORPORATION: 10％ General leasing and finance NX・TC Lease & Finance Co., Ltd. * 49% NIPPON EXPRESS HOLDINGS, INC.: 49％ General leasing and finance FFG Lease Co., Ltd. * 50% Fukuoka Financial Group, Inc.: 50% General leasing Nippon Car Solutions Co., Ltd. 59.5% NTT, Inc.: 40.5％ Auto leasing Nippon Rent-A-Car Service, Inc. 88.6% ANA HOLDINGS INC.: 11.4% Car rental Orico Auto Leasing Co., Ltd. * 34% Orient Corporation: 66％ Auto leasing for individuals TC Kobelco Real Estate Co., Ltd. 70% Kobe Steel, Ltd.: 25％ Chuo-Nittochi Co., Ltd.: 5％ Real estate Kyocera TCL Solar LLC 81% KYOCERA Corporation: 19％ Power generation Shunan Power Corporation 60% Tokuyama Corporation: 20％ Marubeni Clean Power Corporation: 20％ Power generation A&Tm Corporation 51% Tokyo Gas Engineering Solutions Corporation: 39％ KYOCERA Communication Systems Co., LTd.: 10％ Maintenance and management of power plant business MUFG Finance and Leasing Co., Ltd. * 25% MUFG Bank, Ltd.: 38.9％ The Norinchukin Bank: 25％ General leasing and finance NTT Global Data Centers Joint Venture CH, LLC (U.S.) * 50% NTT Group: 20% JICT(Fund Corporation for the Overseas Development of Japan’s ICT and Postal Services Inc). : 30% Data center ZAXIS Financial Services Americas, LLC (U.S.) * 35% ITOCHU Corporation: 35% Hitachi Construction Machinery Co., Ltd.: 30% Construction machinery finance Isuzu Financial Services Australia Pty Ltd．(Australia) * 20% Isuzu Australia Ltd.: 80% Leasing services for Isuzu trucks Overseas Region Investee Company Shareholders Main Businesses Japan
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Copyright © 2026 Tokyo Century Corporation. All Rights Reserved. Disclaimer and Definitions濃 ・ 薄 TC ブルー 国 内 リ ー ス ｵｰﾄﾓﾋﾞﾘﾃｨ スペシャルティ 国際 環 境 イ ン フ ラ ◼ NTL: NTT TC Leasing Co., Ltd. (General leasing and finance) ◼ NCS: Nippon Car Solutions Co., Ltd. （Auto leasing) ◼ NRS: Nippon Rent-A-Car Service, Inc. （Car rental） ◼ ACG: Aviation Capital Group LLC （Aviation leasing） ◼ AP: Advantage Partners Pte. Ltd. ◼ CSI: CSI Leasing, Inc. （IT equipment leasing） ◼ Net income: Net income attributable to owners of parent ◼ ROA: Return on total assets Consolidated net income / {(Total assets at prior fiscal year-end + Total assets at current quarter-end) / 2} ◼ ROE: Return on shareholders' equity (company-wide) Consolidated net income / {(Equity at prior fiscal year-end + Equity at current quarter-end) / 2} Return on shareholders‘ equity (by division; estimated) FY2025: Consolidated net income by division / {(Allocated equity at FY2024 year-end + Allocated equity at FY2025 year-end) / 2} FY2026: Consolidated net income by division / {(Allocated equity at FY2025 year-end + Estimated allocated equity at FY2026 year-end) / 2} ◼ Financing cost ratio: Financing cost (Funding cost + Interest expense) / {(Interest-bearing debt at prior fiscal year end + Interest-bearing debt at current quarter-end） / 2} ◼ Gains on sales, impairment losses, etc.: Gains on sales include: Gains/losses on sales of real estate, gains/losses on sales of operational investment securities, extraordinary income, etc. Impairment losses, etc. include: Impairment losses, bad debt expenses, valuation gains/losses on operational investment securities, extraordinary losses, etc. ◼ All numerical terms and names presented in this report conform to the “short scale” numerical system (i.e., “billion” = “109” and “trillion” = “1012”). ⚫ Any statements in this document, other than those of historical facts, are forward-looking statements about the future performance of Tokyo Century Corporation and its Group companies, which are based on management’s assumptions and beliefs in light of information currently available, and involve risks and uncertainties. Actual results may differ materially from these forecasts. ⚫ Please make your final investment decisions based on your own judgment and at your own responsibility. Definitions of Terms and Numerical Data 39 売却益・減損の 定義英訳部門別の「部門」はdivisionでOKですか →OKです。前はunitで訳されているみたいで すが、divisionの方が事業部という規模感に 沿っているかと思います。
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