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FY3/2026 3Q Results Stock code: 9007 February 13, 2026
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. Contents Executive Summary・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 3 FY3/2026 3Q Results・・・・・・・・・・・・・・・・・・・・・・・・・・・・4 FY3/2026 Forecasts・・・・・・・・・・・・・・・・・・・・・・・・・・・・13 Shareholder Returns and Consolidated Financial Targets・・・・・・・・・・・・・・・・・・22 2
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. Executive Summary 3 Topics Extraordinary factors in FY3/2025 (Life Services) Change of fiscal year and a 13-month consolidation (with ten months for the first nine-month period) following application of the Group Tax Sharing system to Department Stores and Stores and Retail Exclusion of UDS and Okinawa UDS from consolidation in Hotels, etc. (at the end of the first quarter) ► Consolidated financial results (YoY change, excluding extraordinary factors) FY3/2026 3Q Results Operating revenue +¥8.2 bn Operating profit +¥1.5 bn FY3/2026 Forecasts Operating revenue +¥15.1 bn Operating profit +¥2.6 bn * Profit attributable to owners of parent FY3/2026 3Q Results FY3/2026 Forecasts Unchanged from the November forecast Operating revenue: ¥425.0 bn (+¥2.2 bn YoY) Operating profit: ¥53.0 bn (+¥1.5 bn) Profit*: ¥35.0 bn (-¥16.9 bn) YoY change: Operating revenue will increase primarily due to a rise in the number of passengers carried in Transportation, more than offsetting a decline resulting mainly from extraordinary factors in Life Services. Operating profit will also increase. Profit* will decrease, chiefly reflecting the absence of the extraordinary income (from transfer of UDS to an external party) posted in the previous fiscal year. Operating revenue: ¥307.8 bn (-¥4.5 bn YoY) Operating profit: ¥45.1 bn (+¥0.5 bn) Profit*: ¥34.8 bn (-¥8.5 bn) YoY change: Operating revenue decreased, mainly reflecting extraordinary factors in Life Services, while operating profit increased primarily due to revenue growth in Transportation. Profit* decreased, chiefly reflecting the absence of the extraordinary income (from transfer of UDS to an external party) posted in the previous fiscal year.
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. Consolidated Statements of Income Millions of yen FY3/2025 3Q Results FY3/2026 3Q Results Change Changes in non-operating and extraordinary items and major factors for the changes Operating revenue 312,470 307,872 -4,598 ■ Non-operating income Share of profit of entities accounted for using equity method 1,657 (-229) ■ Extraordinary income Gain on sale of investment securities 6,322 (+6,212) Gain on sale of shares of subsidiaries and associates － (-17,179) (-1.5%) Operating profit 44,675 45,186 +510 (+1.1%) Non-operating income 5,049 4,474 -574 Non-operating expenses 4,691 5,846 +1,154 Ordinary profit 45,032 43,814 -1,218 (-2.7%) Extraordinary income 18,030 7,089 -10,940 Extraordinary losses 1,694 2,411 +717 Profit attributable to owners of parent 43,486 34,899 -8,587 (-19.7%) FY3/2026 3Q Results 4 * Profit attributable to owners of parent YoY change: Operating revenue was down 4.5 billion yen, mainly reflecting extraordinary factors in Life Services, i.e. ten-month consolidation for the previous fiscal year and the exclusion of UDS and Okinawa UDS from consolidation, while operating profit rose0.5 billion yen due in part to a revenue hike in Transportation. Profit* decreased 8.5 billion yen, despite posting of a gain on the sale of investment securities (cross-shareholdings), chiefly reflecting the absence of a gain on sale of shares of subsidiaries and associates (from transfer of UDS to an external party) posted in the previous fiscal year.
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. 312,470 -728 44,675 +2,866 -500 -771 -1,075 -8 Details of Consolidated Operating Revenue and Consolidated Operating Profit (YoY Change) Transportation:Operating revenue increased 4.7 billion yen and operating profit increased 2.8 billion yen, mainly due to fare revisions in Buses and the Hakone area in addition to the strong performance in terms of the number of passengers carried in the Company's railway businessand other companies. Real Estate: Operating revenue climbed 2.0 billion yen, mainly reflecting a rise in the number of units sold in Sales, but operating profit declined 0.5 billion yen, chiefly due to a decrease in the number of properties sold in investment and development, which is highly profitable. Life Services: Operating revenue increased 2.2 billion yen with improved results at existing stores in Stores and Retail excluding extraordinary factors, while operating profit decreased 0.7 billion yen chiefly due to a drop in tax-free sales in Department Stores and a rise in expenses related to new businesses. 5 Operating profit (Millions of yen) Millions of yen FY3/2025 3Q Results FY3/2026 3Q Results Change Operating revenue 312,470 307,872 -4,598 Transportation 131,560 136,299 +4,739 Real Estate 63,172 65,200 +2,027 Life Services 129,137 118,499 -10,637 Adjustments -11,400 -12,128 -728 Operating profit 44,675 45,186 +510 Operating profit margin 14.3% 14.7% +0.4p Transportation 25,278 28,144 +2,866 19.2% 20.6% +1.4p Real Estate 11,741 11,241 -500 18.6% 17.2% -1.4p Life Services 7,639 5,792 -1,847 5.9% 4.9% -1.0p Adjustments 16 8 -8 Operating revenue (Millions of yen) FY3/2025 3Q Results Transportation Real Estate Transportation: Increase in number of passengers carried Buses/Hakone area: Fare revisions Adjustments FY3/2026 3Q Results FY3/2025 3Q Results Transportation Adjustments FY3/2026 3Q Results Stores: Improved results at existing stores Extraordinary factors Extraordinary factors Department Stores: Decrease in tax-free sales Others: Increase in new business- related expenses Life Services (-1,847) Life Services (-10,637) Sales: Increase in the number of units sold (Sales) +4,739 +2,027 +2,217 -12,855 307,872 Real Estate 45,186 Sales: Decrease in the number of properties sold (Investment and development, which is highly profitable) FY3/2026 3Q Results
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. Consolidated Balance Sheets Millions of yen FY3/2025 Results FY3/2026 3Q Results Change and major factors Current assets 141,096 207,618 +66,521 Cash and deposits +48,603 Non-current assets 1,158,895 1,173,887 +14,992 Investment securities +14,858 Total assets 1,299,991 1,381,505 +81,513 Current liabilities 344,331 325,581 -18,749 Interest-bearing debt -16,856 Non-current liabilities 476,397 556,604 +80,207 Interest-bearing debt +76,816 Total liabilities 820,728 882,186 +61,458 Interest-bearing debt +59,960 Total net assets 479,263 499,319 +20,055 Retained earnings +17,518 Total liabilities and net assets 1,299,991 1,381,505 +81,513 Equity ratio 36.8% 36.1% -0.7p 6 Total assets: Total assets increased 81.5 billion yen from the end of the previous fiscal year to 1,381.5 billion yen, due mainly to a rise in cash and deposits after borrowings and a hike in investment securities after investment in a special purpose company (SPC). Liabilities: Liabilities increased 61.4 billion yen from the end of the previous fiscal year to 882.1 billion yen, mainly reflecting a rise in interest-bearing debt after borrowings. Net assets: Net assets rose 20.0 billion yen from the end of the previous fiscal year to 499.3 billion yen, following a rise in retained earnings. FY3/2026 3Q Results
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. Millions of yen FY3/2025 3Q Results FY3/2026 3Q Results Change and major factors Operating revenue 131,560 136,299 +4,739 Change +3.6% Railways 97,494 99,926 +2,432 (+) Increase in number of passengers carried (+1.4% in commuters and +2.5% in non-commuters in the Company's railway business) Buses 27,633 28,881 +1,248 (+) Increase in number of passengers carried (+) Fare revisions Others 6,433 7,491 +1,058 (+) Increase in number of passengers carried (+) Fare revisions (in the Hakone area, which took effect on October 1, 2025) Operating profit 25,278 28,144 +2,866 Change +11.3%Operating profit margin 19.2% 20.6% +1.4p Railways 20,671 22,811 +2,139 21.2% 22.8% +1.6p Buses 2,743 2,826 +82 (-) Increase in personnel expenses9.9% 9.8% -0.1p Others 1,862 2,506 +644 28.9% 33.5% +4.6p Segment Information (Transportation) 7 FY3/2026 3Q Results
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. Odakyu Electric Railway 8 Hakone area only Tourism revenue (Including tax-free sales) Millions of yen FY3/2025 3Q Results FY3/2026 3Q Results Change Tourism revenue 21,472 22,385 +912 (+4.3%) Inbound tourism only 4,896 5,385 +488 (+10.0%) Tourism revenue (Included in values for Transportation, Real Estate, and Life Services) Millions of yen FY3/2025 3Q Results FY3/2026 3Q Results Change Tourism revenue 58,903 60,329 +1,425 (+2.4%) Inbound tourism only 18,469 18,401 -68 (-0.4%) Segment Information (Transportation): Major Indicators Thousands of people FY3/2025 3Q Results FY3/2026 3Q Results Change Commuters 311,508 315,990 +4,482 (+1.4%) Work commuters 216,015 219,642 +3,627 (+1.7%) School commuters 95,493 96,348 +855 (+0.9%) Non- commuters 221,552 227,072 +5,520 (+2.5%) Total 533,060 543,062 +10,002 (+1.9%) Millions of yen FY3/2025 3Q Results FY3/2026 3Q Results Change Commuters 32,308 32,722 +413 (+1.3%) Work commuters 27,416 27,817 +401 (+1.5%) School commuters 4,892 4,904 +11 (+0.2%) Non- commuters 54,786 56,232 +1,445 (+2.6%) Revenues from passenger transportation 87,095 88,954 +1,858 (+2.1%) Miscellaneous revenues 2,328 2,266 -61 (-2.6%) Total 89,424 91,221 +1,797 (+2.0%) Millions of yen FY3/2025 3Q Results FY3/2026 3Q Results Change Total 69,408 69,727 +318 (+0.5%) Personnel expenses 19,200 19,347 +147 (+0.8%) Repair expenses 5,045 5,816 +770 (+15.3%) Power costs 5,115 5,308 +193 (+3.8%) Property and equipment disposal expenses 499 697 +198 (+39.8%) Depreciation 17,027 16,977 -50 (-0.3%) Others 22,520 21,579 -940 (-4.2%) Number of passengers carried Revenue Operating expenses FY3/2026 3Q Results
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. Millions of yen FY3/2025 3Q Results FY3/2026 3Q Results Change and major factors Operating revenue 63,172 65,200 +2,027 Change +3.2% Sales 19,973 21,325 +1,352 (+) Sales: Increase in the number of units sold (+51) (-) Investment and development: Decrease in number of properties sold (-2) (-) Purchase and resale: Decrease in number of units sold (-4) Leasing 33,598 33,668 +70 (+) Increase in rental revenue from commercial facilities and offices (-) Closure of Shinjuku MYLORD in March 2025 (-¥1.0 bn) Others 9,601 10,206 +605 Operating profit 11,741 11,241 -500 Change -4.3% Operating profit margin 18.6% 17.2% -1.4p Sales 1,572 710 -861 (-) Investment and development: Decrease in number of properties sold (-2)7.9% 3.3% -4.6p Leasing 9,960 10,270 +309 (+) Decrease in facilities renewal expenses (-) Closure of Shinjuku MYLORD in March 2025 (-¥0.6 bn)29.6% 30.5% +0.9p Others 209 260 +51 2.2% 2.5% +0.3p Segment Information (Real Estate) 9 FY3/2026 3Q Results
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. Segment Information (Real Estate): Major Indicators Breakdown of operating revenue Odakyu Real Estate only Millions of yen FY3/2025 3Q Results FY3/2026 3Q Results Change Total 19,973 21,325 +1,352 (+6.8%) Investment and development 3,390 812 -2,577 (-76.0%) Sales 7,626 14,245 +6,618 (+86.8%) Purchase and resale 4,205 742 -3,462 (-82.4%) Others 4,751 5,525 +774 (+16.3%) Sales: Number of units sold Residences/ sections FY3/2025 3Q Results FY3/2026 3Q Results Change Land 37 15 -22 Detached house 10 26 +16 Condominium 82 139 +57 Total 129 180 +51 Investment and development: Number of properties sold Number of properties FY3/2025 3Q Results FY3/2026 3Q Results Change Investment and development 2 － -2 Residences/sections FY3/2025 3Q Results FY3/2026 3Q Results Change Purchase and resale 7 3 -4 Purchase and resale: Number of units sold <Major properties included in unit sales> Address Mita Grand Hills Minato-ku, Tokyo LEAFIA Tower Ebina Bliss Court Ebina-shi, Kanagawa 10 Sales <Major properties included in unit sales> Total units (Number of units owned by Odakyu) Beginning of deliveries LEAFIA Residence Nerima Nakamurabashi 67 August 2024 LEAFIA Shin-Yurigaoka Grace Court 15 December 2024 LEAFIA Residence Chofu Kojimacho 50 March 2025 Park Tower Mukogaoka-yuen 75 December 2025 FY3/2026 3Q Results
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. Segment Information (Life Services) 11 Millions of yen FY3/2025 3Q Results FY3/2026 3Q Results Change and major factors Operating revenue 129,137 118,499 -10,637 Change -8.2% Department Stores 21,579 17,343 -4,235 (-) Change of fiscal yearend of Odakyu Department Store in the previous fiscal year (-¥3.1 bn)* (-) Decrease in tax-free sales Stores and Retail 54,544 50,925 -3,619 (-) Change of fiscal yearend of Odakyu Shoji in the previous fiscal year (-¥5.3 bn)* (+) Improved results at existing stores and new store openings Hotels 13,825 10,714 -3,110 (-) UDS/Okinawa UDS excluded from consolidation at the end of the first quarter of the previous fiscal year (-) Closure of Hakone Highland Hotel (from May 7, 2025) (+) Rises in average daily rate at Hotel Century Southern Tower Restaurants 12,933 12,774 -159 Others 26,254 26,741 +487 (+) Resort temporary staffing and travel agency (-) UDS (Planning, Design, etc.) excluded from consolidation at the end of the first quarter of the previous fiscal year Operating profit 7,639 5,792 -1,847 Change -24.2%Operating profit margin 5.9% 4.9% -1.0p Department Stores 1,503 616 -887 7.0% 3.6% -3.4p Stores and Retail 1,683 1,389 -294 3.1% 2.7% -0.4p Hotels 2,458 2,275 -182 17.8% 21.2% +3.4p Restaurants 239 379 +140 1.8% 3.0% +1.2p Others 1,753 1,130 -622 (-) Increase in new business-related expenses6.7% 4.2% -2.5p * From FY3/2025, the fiscal yearend for Odakyu Department Store Company Limited and Odakyu Shoji Co., Ltd. was changed to March from February to apply the Group Tax Sharing system. Therefore, ten months (March 2024 to December 2024) have been consolidated for FY3/2025 3Q. FY3/2026 3Q Results
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. Segment Information (Life Services): Major Indicators Occupancy rate Area Hotel name FY3/2025 3Q Results FY3/2026 3Q Results Change Shinjuku Hotel Century Southern Tower 89.9% 89.1% -0.8p Hakone Hotel de Yama 74.9% 82.7% +7.8p Hatsuhana 67.5% 72.3% +4.8p HAKONE YUTOWA 84.0% 82.5% -1.5p HOTEL CLAD 79.6% 81.7% +2.1p Percentage of foreign guests Odakyu Shoji: Operating revenue* (YoY change) Change All businesses +3.5% Store division only +4.2% Department Stores Hotels 12 Stores and Retail Odakyu Department Store: Sales* (YoY change) Millions of yen FY3/2026 3Q Results Change Shinjuku Store 22,084 -7.2% Machida Store 22,515 +0.7% Fujisawa Store 4,436 -0.8% Total 49,036 -3.2% (Reference) Average daily rate among hotels in Hakone area*1: -1.0% (YoY change) *1 Hotel de Yama, Hatsuhana, HAKONE YUTOWA, and HOTEL CLAD *2 Hakone Highland Hotel has been closed for renovation since May 7, 2025. * Comparison of figures for nine months made by correcting figures for the previous fiscal year * Comparison of figures for nine months made by correcting figures for the previous fiscal year Area Hotel name FY3/2025 3Q Results FY3/2026 3Q Results Change Shinjuku Hotel Century Southern Tower 88.3% 88.6% +0.3p Hakone Hotel de Yama 24.9% 22.2% -2.7p Hatsuhana 24.1% 32.3% +8.2p HAKONE YUTOWA 55.8% 55.4% -0.4p HOTEL CLAD 57.4% 52.6% -4.8p FY3/2026 3Q Results
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. Extraordinary factors in the previous fiscal year and others Railways (Odakyu Electric Railway) Number of passengers carried: Commuters: +1.2%, Non-commuters: +1.9%, Total: +1.5% Revenue: Commuters: +1.2%, Non-commuters: +2.0%, Revenues from passenger transportation: +1.7% Sales (Odakyu Real Estate) Sales: Projected unit sales: 240 units (+30 units) Purchase and resale: Projected unit sales: 14 units (+1 unit) Leasing (Odakyu SC Development) Commercial facilities (excluding Shinjuku MYLORD): Commission rent: +7.0% Department Stores (Odakyu Department Stores)* Sales -4.6% Stores and Retail (Odakyu Shoji)* Operating revenue +4.3% Leasing Closure of Shinjuku MYLORD (March 17, 2025) associated with the progress in the Shinjuku West Gate Development Project Operating revenue: -¥1.4 bn Operating profit: -¥0.8 bn Life Services The absence of the 13-month consolidation in Department Stores and Stores and Retail made in the previous fiscal year Operating revenue: -¥8.4 bn Operating profit: -¥0.4 bn Exclusion of UDS and Okinawa UDS from consolidation in Hotels, etc. (at the end of the first quarter of the previous fiscal year) Major Assumptions in Each Segment (YoY Changes) Transportation Real Estate 13 Life Services FY3/2026 Forecasts * The information announced in November 2025 has not been revised. * Comparison of figures for 12 months made by correcting figures for the previous fiscal year
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. Consolidated Statements of Income: Major Indicators Millions of yen FY3/2025 Results FY3/2026 Forecasts Change Operating revenue 422,700 425,000 +2,299 (+0.5%) Operating profit 51,431 53,000 +1,568 (+3.0%) Ordinary profit 50,474 50,000 -474 (-0.9%) Profit attributable to owners of parent 51,958 35,000 -16,958 (-32.6%) Capital investments 65,388 96,800 +31,411 Depreciation 43,954 45,100 +1,145 Interest-bearing debt 652,789 713,300 +60,510 Interest-bearing debt/EBITDA ratio (times) 6.8 7.3 +0.5p ROA*2 4.1% 2.7% -1.4p ROE*3 11.7% 7.7% -4.0p Operating revenue: Operating revenue will increase 2.2 billion yen, to 425.0 billion yen, despite a decrease attributed mainly to extraordinary factors in Life Services, more than offset by an increase in the number of passengers carried in Transportation and an increase in projected unit sales in Real Estate, among other factors. Operating profit: Operating profit will rise 1.5 billion yen to 53.0 billion yen due to an increase in profit in Transportation. Profit*1: Profit will decrease 16.9 billion yen, to 35.0 billion yen, mainly reflecting the absence of the gain on sale of shares of subsidiaries and associates (transfer of UDS to an external party) and the gain on sale of investment securities (shares in Sotetsu Holdings) that were posted in the previous fiscal year. 14 *1 Profit attributable to owners of parent *2 Profit attributable to owners of parent / Total assets (average of the start and end of the fiscal year, excluding net unrealized gain on securities) *3 Profit attributable to owners of parent / Shareholders' equity (average of the start and end of the fiscal year, excluding net unrealized gain on securities) * The information announced in November 2025 has not been revised. FY3/2026 Forecasts
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. Details of Consolidated Operating Revenue and Consolidated Operating Profit (YoY Change) Transportation: Operating revenue will increase by 5.6 billion yen and operating profitwill increaseby 3.2 billion yen, mainly due to increase in the number of passengers carried andfare revisions in the Hakone area. Real Estate: Operating revenue will increase 3.3 billion yen, mainly due to an increase in projected unit sales in Sales, but operating profit will decrease 0.2 billion yen, mainly reflecting the closure of Shinjuku MYLORD in Leasing associated with the progress in the Shinjuku West Gate Development Project. Life Services: Excluding the extraordinary factors, operating revenue will increase 5.1 billion yen, principally due to improved results at existing stores in Stores and Retail, while operating profit will fall 0.2 billion yen due mainly to revenue shrinkage in Department Stores. 15 Millions of yen FY3/2025 Results FY3/2026 Forecast Change Operating revenue 422,700 425,000 +2,299 Transportation 174,927 180,600 +5,672 Real Estate 95,897 99,200 +3,302 Life Services 168,695 161,000 -7,695 Adjustments -16,821 -15,800 +1,021 Operating profit 51,431 53,000 +1,568 Operating profit margin 12.2% 12.5% +0.3p Transportation 26,495 29,700 +3,204 15.1% 16.4% +1.3p Real Estate 15,852 15,600 -252 16.5% 15.7% -0.8p Life Services 9,062 7,700 -1,362 5.4% 4.8% -0.6p Adjustments 20 0 -20 422,700 +5,672 +3,302 +5,159 -12,855 +1,021 425,000 51,431 +3,204 -252 -287 -1,075 -20 53,000 Operating profit (Millions of yen) Operating revenue (Millions of yen) FY3/2025 Results Transportation Real Estate Adjustments FY3/2026 Forecasts FY3/2025 Results Transportation Real Estate Adjustments FY3/2026 Forecasts Extraordinary factors Extraordinary factors Life Services (-1,362) Life Services (-7,695) Transportation: Increase in number of passengers carried Hakone area: Fare revisions Sales: Increase in projected real estate unit sales* Leasing: Closure of Shinjuku MYLORD Stores: Improved results at existing storesDepartment Stores FY3/2026 Forecasts *Sales, Purchase and resale * The information announced in November 2025 has not been revised.
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. Millions of yen FY3/2025 Results FY3/2026 Forecasts Change and major factors Operating revenue 174,927 180,600 +5,672 Change +3.2% Railways 129,279 132,000 +2,720 (+) Increase in number of passengers carried (+1.2% in commuters and +1.9% in non-commuters in the Company's railway business) Buses 36,552 38,100 +1,547 (+) Increase in number of passengers carried (+) Fare revisions Others 9,095 10,500 +1,404 (+) Increase in number of passengers carried (+) Fare revisions (in the Hakone area, which took effect on October 1, 2025) Operating profit 26,495 29,700 +3,204 Change +12.1%Operating profit margin 15.1% 16.4% +1.3p Railways 21,383 23,700 +2,316 16.5% 18.0% +1.5p Buses 2,781 2,900 +118 (-) Increase in personnel expenses7.6% 7.6% +0.0p Others 2,329 3,100 +770 25.6% 29.5% +3.9p Segment Information (Transportation) 16 Capital investments 41,922 58,800 +16,877 Depreciation 29,996 30,400 +403 Operating profit ROA 4.0% 4.4% +0.4p FY3/2026 Forecasts * The information announced in November 2025 has not been revised.
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. Segment Information (Transportation): Major Indicators Odakyu Electric Railway 17 Hakone area only Tourism revenue (Including tax-free sales) Millions of yen FY3/2025 Results FY3/2026 Forecasts Change Tourism revenue 28,138 29,664 +1,525 (+5.4% ) Inbound tourism only 6,423 6,970 +546 (+8.5% ) Tourism revenue (Included in values for Transportation, Real Estate, and Life Services) Millions of yen FY3/2025 Results FY3/2026 Forecasts Change Tourism revenue 77,844 79,913 +2,069 (+2.7% ) Inbound tourism only 24,030 23,812 -218 (-0.9% ) Number of passengers carried Revenue Operating expenses Thousands of people FY3/2025 Results FY3/2026 Forecasts Change Commuters 404,556 409,520 +4,964 (+1.2%) Work commuters 287,344 291,377 +4,033 (+1.4%) School commuters 117,212 118,143 +931 (+0.8%) Non- commuters 294,315 300,016 +5,701 (+1.9%) Total 698,871 709,536 +10,665 (+1.5%) Millions of yen FY3/2025 Results FY3/2026 Forecasts Change Commuters 42,454 42,949 +495 (+1.2%) Work commuters 36,482 36,951 +468 (+1.3%) School commuters 5,971 5,998 +27 (+0.5%) Non- commuters 72,854 74,341 +1,486 (+2.0%) Revenues from passenger transportation 115,309 117,291 +1,982 (+1.7%) Miscellaneous revenues 3,199 3,164 -34 (-1.1%) Total 118,508 120,456 +1,947 (+1.6%) Millions of yen FY3/2025 Results FY3/2026 Forecasts Change Total 97,635 97,482 -152 (-0.2%) Personnel expenses 26,034 26,123 +89 (+0.3%) Repair expenses 8,947 9,885 +937 (+10.5%) Power costs 6,793 7,036 +242 (+3.6%) Property and equipment disposal expenses 2,406 1,892 -513 (-21.3%) Depreciation 22,987 22,936 -50 (-0.2%) Others 30,465 29,608 -857 (-2.8%) FY3/2026 Forecasts * We have revised the calculation method and adjusted the figures for FY3/2025 Results and FY3/2026 Forecasts. * The information announced in November 2025 has not been revised.
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. Segment Information (Real Estate) 18 Millions of yen FY3/2025 Results FY3/2026 Forecasts Change and major factors Operating revenue 95,897 99,200 +3,302 Change +3.4% Sales 36,553 40,600 +4,046 (+) Increase in projected real estate unit sales (Sales: +30, Purchase and resale: +1) (-) Investment and development: Decrease in the scale of properties Leasing 45,102 44,700 -402 (-) Closure of Shinjuku MYLORD in March 2025 (-¥1.4 bn) (+) Increase in rental revenue from commercial facilities and offices Others 14,242 13,900 -342 Operating profit 15,852 15,600 -252 Change -1.6%Operating profit margin 16.5% 15.7% -0.8p Sales 2,516 2,500 -16 6.9% 6.2% -0.7p Leasing 12,657 12,600 -57 (-) Closure of Shinjuku MYLORD in March 2025 (-¥0.8 bn)28.1% 28.2% +0.1p Others 678 500 -178 4.8% 3.6% -1.2p Capital investments 18,573 25,400 +6,826 Depreciation 9,644 10,000 +355 Operating profit ROA 3.4% 3.1% -0.3p FY3/2026 Forecasts * The information announced in November 2025 has not been revised.
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. Segment Information (Real Estate): Major Indicators Investment and development: Number of properties projected to be sold Sales: Projected unit sales Number of properties FY3/2025 Results FY3/2026 Forecasts Change Investment and development 3 3 － Residences/ sections FY3/2025 Results FY3/2026 Forecasts Change Land 39 18 -21 Detached house 16 38 +22 Condominium 155 184 +29 Total 210 240 +30 Odakyu Real Estate only Millions of yen FY3/2025 Results FY3/2026 Forecasts Change Total 36,553 40,600 +4,046 (+11.1%) Investment and development 9,108 5,900 -3,208 (-35.2%) Sales 14,296 18,100 +3,803 (+26.6%) Purchase and resale 5,860 8,700 +2,839 (+48.4%) Others 7,287 7,900 +612 (+8.4%) Residences/sections FY3/2025 Results FY3/2026 Forecasts Change Purchase and resale 13 14 +1 Purchase and resale: Projected unit sales <Major properties projected to be sold> Address Total floor area Odakyu Logistics Center Fukuoka Shime Shime-machi, Kasuya-gun, Fukuoka 11,366.05 m 2 <Major properties included in projected unit sales> Total units (Number of units owned by Odakyu) Beginning of deliveries (Plan) LEAFIA Residence Nerima Nakamurabashi 67 August 2024 LEAFIA Residence Chofu Kojimacho 50 March 2025 Park Tower Mukogaoka-yuen 75 December 2025 LEAFIA Residence Sagami-ono Style Suite 52 March 2026 19 <Major properties included in projected unit sales> Address Ark Hills Sengokuyama Residence Minato-ku, Tokyo Park Court Chiyoda Yonbancho Chiyoda-ku, Tokyo Breakdown of operating revenue Sales FY3/2026 Forecasts * The information announced in November 2025 has not been revised.
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. Segment Information (Life Services) Capital investments 4,891 12,600 +7,708 Depreciation 4,349 4,700 +350 Operating profit ROA 6.9% 6.2% -0.7p Millions of yen FY3/2025 Results FY3/2026 Forecasts Change and major factors Operating revenue 168,695 161,000 -7,695 Change -4.6% Department Stores 27,774 24,100 -3,674 (-) Change of fiscal yearend in the previous fiscal year (-¥3.1 bn)* Stores and Retail 70,406 67,900 -2,506 (-) Change of fiscal yearend in the previous fiscal year (-¥5.3 bn)* (+) Improved results at existing stores and new store openings Hotels 17,185 14,500 -2,685 (-) UDS/Okinawa UDS excluded from consolidation at the end of the first quarter of the previous fiscal year Restaurants 17,128 17,000 -128 Others 36,201 37,500 +1,298 Operating profit 9,062 7,700 -1,362 Change -15.0%Operating profit margin 5.4% 4.8% -0.6p Department Stores 1,582 600 -982 5.7% 2.5% -3.2p Stores and Retail 1,809 1,700 -109 2.6% 2.5% -0.1p Hotels 2,914 2,600 -314 17.0% 17.9% +0.9p Restaurants 300 500 +199 1.8% 2.9% +1.1p Others 2,456 2,300 -156 6.8% 6.1% -0.7p 20 * Odakyu Department Store Company Limited and Odakyu Shoji Co., Ltd. adopted 13-month consolidated accounting (from March 2024 to March 2025) for FY3/2025.FY3/2026 Forecasts * The information announced in November 2025 has not been revised.
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. Segment Information (Life Services): Major Indicators Occupancy rate Area Hotel name FY3/2025 Results FY3/2026 Forecasts Change Shinjuku Hotel Century Southern Tower 89.9% 88.6% -1.3p Hakone Hotel de Yama 72.3% 79.5% +7.2p Hatsuhana 67.5% 70.3% +2.8p HAKONE YUTOWA 79.7% 80.2% +0.5p HOTEL CLAD 79.6% 81.3% +1.7p Hotels (Reference) Average daily rate among hotels in Hakone area*1: -0.5% (YoY change) *1 Hotel de Yama, Hatsuhana, HAKONE YUTOWA, and HOTEL CLAD *2 Hakone Highland Hotel has been closed for renovation since May 7, 2025. 21 Millions of yen FY3/2026 Forecasts Change Shinjuku Store 28,618 -10.4% Machida Store 29,535 +0.8% Fujisawa Store 5,780 -0.3% Total 63,933 -4.6% * Comparison of figures for 12 months made by correcting figures for the previous fiscal year * Comparison of figures for 12 months made by correcting figures for the previous fiscal year Department Stores Stores and Retail Odakyu Shoji: Operating revenue* (YoY change) Change All businesses +4.3% Store division only +5.0% FY3/2026 Forecasts * The information announced in November 2025 has not been revised. Odakyu Department Store: Sales* (YoY change)
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. 10.0 11.0 11.0 15.0 25.0 11.0 10.0 10.0 10.0 21.0 19.0 25.0 25.0 0.0 10.0 20.0 30.0 40.0 50.0 60.0 FY3/2019 FY3/2020 FY3/2021 FY3/2022 FY3/2023 FY3/2024 FY3/2025 FY3/2026 Interim dividend (yen) Year-end dividend (yen) Shareholder Returns Share buybacks Dividend Basic policy (FY3/2024-FY3/2027) Based on the assumption of a 30% shareholders’ equity ratio, the Company will implement stable dividends and flexible share buybacks, with a target total consolidated payout ratio of at least 40%* on average for FY3/2024 through FY3/2027 * Total amount of shareholder returns for the four years / total amount of Profit attributable to owners of parent for the four years ≥ 40% FY3/2026：Planning to pay annual dividend of 50 yen per share Consider the timing of implementation, comprehensively taking into consideration changes in the business environment, business performance, and other factors Also considering measures to address the deterioration of share supply-demand balance resulting from the sale of the Company's shares by financial institutions, etc (Acquisitions that were made) Total for FY3/2024 and FY3/2025: 32.7 billion yen Dividend per share (including forecast) 21.0 22 21.0 30.0 40.0 50.0 * Diagonal lines indicate forecasts ※ The information announced in May 2025 has not been revised.
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. * Diagonal lines indicate forecasts/targets. 715.2 626.9 652.7 713.3 820.4 7.2 times 6.5 times 6.8 times 7.3 times 7.9 times 0.0 tim 1.0 tim 2.0 tim 3.0 tim 4.0 tim 5.0 tim 6.0 tim 7.0 tim 8.0 tim 9.0 tim 400.0410.0 420.0430.0440.0 450.0 460.0470.0480.0490.0500.0510.0520.0 530.0 540.0550.0560.0 570.0 580.0 590.0600.0610.0 620.0 630.0640.0650.0 660.0 670.0680.0690.0700.0710.0 720.0730.0740.0 750.0 760.0770.0780.0 790.0 800.0810.0820.0 830.0 840.0850.0860.0 870.0 880.0 890.0900.0 910.0920.0 930.0940.0950.0 960.0970.0 980.0990.01,000.0 FY3/2019 FY3/2024 FY3/2025 FY3/2026 FY3/2027 FY3/2031 Interest-bearing debt Interest-bearing debt/EBITDA ratio (times) 52.0 50.7 51.4 53.0 54.0 80.0 32.4 81.5 51.9 35.0 35.8 9.7% 20.3% 11.7% 7.7% 8.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0 FY3/2019 FY3/2024 FY3/2025 FY3/2026 FY3/2027 FY3/2031 Operating income Profit attributable to owners of parent ROE 23 Consolidated Financial Targets Operating profit FY3/2027: 54.0 billion yen FY3/2031: 80.0 billion yen Income will continue to increase moderately until FY3/2027 but will grow to 80.0 billion yen in FY3/2031, reflecting efforts to achieve growth in tourism and Real Estate and revise fares in the Company's railway business. Interest-bearing debt/ EBITDA ratio (times) FY3/2027 and FY3/2031: Controlling it to maintain a 7-time level The ratio will be on an upward trend due to an increase in interest-bearing debt resulting from aggressive investment in growth areas but will be kept controlled to maintain a 7-time level until FY3/2031. Profitability FY3/2027: 8.0％ FY3/2031: 10% or more ROE will be on a downward trend temporarily until FY3/2027 due to a decrease in extraordinary income but will grow to a level above 10% in FY3/2031 due to increases in ROA and financial leverage. ROE* (Billions of yen) 10% or more 7-time level Financial Soundness * Diagonal lines indicate forecasts/targets. * Profit attributable to owners of parent / Shareholders' equity (average of the start and end of the fiscal year; excluding net unrealized gain on securities) ※ The information announced in May 2025 has not been revised. (Billions of yen)
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Copyright (C) 2026 Odakyu Electric Railway Co., Ltd. All Rights Reserved. 24 ■ Notice In addition to this financial results briefing document, the Company has posted the following documents as financial results information on the Financial Results section of the Odakyu corporate website (https:// www.odakyu.jp/ir/en/financial/). • Earnings Release • FAQ (released a few days after the announcement of the financial results) ■ Remarks Figures about business plans, future forecasts and strategies other than historical facts are forward-looking statements reflecting management's view. Since the forward-looking statements are based on information available at the time of disclosure, the actual results may differ from these forecasts. Odakyu Electric Railway Co., Ltd.