ANA : Announces Mid-Term Corporate Strategy for FY2023-2025

ANA HOLDINGS NEWS

ANA HOLDINGS Announces Mid-Term Corporate

Strategy for FY2023-2025

• ANA HOLDINGS INC. today announces its mid-term corporate strategy to FY2025 and its new management vision, which has been revised for the first time since the holding company structure was established in 2013.
• Between FY2023-2025, with a focus on expanding profitability of our core airline business, we will strengthen our non-airline business and increase the interaction with our customers to accelerate our business transformation and lay the groundwork for further growth to 2030.
• Our financial goal is to achieve operating income of 120.0 billion yen and net income of 63.0 billion yen in FY2023, and to increase operating income to 200.0 billion yen and net income to 122.0 billion yen in FY2025.

TOKYO, Feb. 15, 2023 - ANA HOLDINGS INC. (hereinafter "ANA HD") has unveiled its FY2023-2025mid-term corporate strategy, a new three-year growth strategy that aims to achieve sustainable growth. With support from our customers, shareholders, and stakeholders as well as our employees, ANA HD focused on transformative measures to a new business modelannounced in October 2020 during the unprecedented circumstances of the COVID-19 pandemic. Now with recovery in demand becoming clear, ANA HD sets sight on a brighter future, as we position the airline business at our core and expand into new realms to strengthen the ANA ecosystem, with the aim to shift to a growth trajectory toward 2030.

"After successfully managing through the last few and challenging years with the effort of our employees, loyalty from our customers, and support from our shareholders and stakeholders, we are happy to announce our three-year strategy that positions ANA HD for the future," said Koji Shibata, President and Chief Executive Officer. "By strengthening our core airline business and transforming the organization, we will strive to realize our new management vision for a brighter future based on sustainable growth."

1. Elements of the Mid-TermCorporate Strategy for FY2023-2025

Together with the announcement of our mid-term strategy today, for the first time since the holding company structure was established in 2013, the management vision of ANA HD has been revised. With our mission statement "Built on a foundation of security and trust, "the wings within ourselves" help to fulfill the hopes and dreams of an interconnected world" as a basis, the new management vision reflects the future envisioned by our employees in the countless dialogues leading up to today. The new management vision expresses our desire to realize a future in which all ANA Group employees around the world can work with enthusiasm, and share joy with our customers and society.

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New Management Vision

Uniting the World in Wonder

ANA inspires our employees, customers, and society to explore endless possibilities

with diverse connections that start in the sky

Exploring diverse connections that start in the sky

• Airline will serve as our core business to create new encounters and connections among people, goods, and experiences around the world.
• We will expand our business to next-generation mobility, increase offerings in daily life and create connections from reality to virtual worlds.
• Through open innovation, we will connect the knowledge and technology both inside and outside the ANA Group across various countries and companies.

Inspiring endless possibilities for employees, customers, and society

• Strengthen the well-being and growth of our employees, the ultimate source of creating values.
• Enrich the lives of our customers through the products and services of the entire ANA Group.
• Contribute to solving social issues including the protection of the environment and become a company that can truly serve society.

Under this new management vision, the ANA Group will continue to pursue new opportunities, with an appreciation for our valued customers.

2. Overview of Corporate Strategy

The three years to FY2025 will be a phase to lay the groundwork for further growth to achieve our management vision. Highlights of the strategy will position the airline business at the core and aim to enhance profit in the non-airline business, promoting the flow and activity of our customers among both areas. With these initiatives, we will aim to recover profitability and financial performance to pre-COVID levels, and through further business expansion from FY2026 and beyond, exceed pre-COVID levels as we aim to achieve our management vision.

"Safety," "human resources," and "digital transformation" will be at the core of our business foundation, as we promote ESG management and strive toward sustainable growth.

Three pillars of the business strategy to FY2025:

• Maximize profit in the airline business by optimizing the ANA Group's multiple brands and expanding the cargo business.
• Expansion of non-airline profit through a focused allocation of resources based on categorized fields of businesses.
• Expand the ANA Group's ecosystem for sustainable growth.

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3. Airline Business Strategy

Maximize profitability by optimizing the multiple brands and expanding the cargo business

• Airline Business Portfolio: With the introduction of AirJapan in the second half of FY2023, cover a wide range of global demand with the three brands

• Aim to expand market share and profit in the airline business through the development of three brands: ANA, Peach, and AirJapan.
• Flexibly adjust routes, schedules, and frequencies of the three brands in order to maximize profit in the airline business.
• Increase profitability through collaborative marketing between the brands, enhanced usage of the brands by the customers, and consolidation of functions.
• Maximize cargo business profit by leveraging strength as a "combination carrier" that utilizes both passenger aircraft and freighters.

ANA: Enhance profitability by restructuring the network, maximizing customer experience value and maintaining a robust cost structure

• Through the ANA Smart Travel initiative, deliver support and smoother experiences in all situations by integrating human and digital resources.
• Strengthen the ANA Mileage Club program and enhance customer engagement by leveraging ANA's ecosystem to raise the lifetime value for customers.
• Establish a competitive and productive operating structure through flexible handling and digitization.
• Actively resume and increase flights on international routes to/from Haneda and Narita, and develop the domestic network with a focus on core routes.

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Peach: Focus on profitability by capturing demand from leisure travel and visitors to Japan from Asia and optimizing the number of aircraft

• Deliver affordable fares, simple and user-friendly system, and easier access to travel.
• Focus on short-medium haul international routes in Asia where there is strong demand to capture leisure and inbound demand.
• Build a revenue base on routes with strong demand with Kansai and Narita as hubs for domestic routes, which enables Peach to focus on generating demand on new regional routes as well.

AirJapan: Capture overseas demand to Japan and achieve business efficiency with plan to launch service in the second half of FY2023

• Deliver fares that can compete with LCCs, services that cater to personal preferences, and unprecedented comfort.
• Capture inbound demand from overseas by launching flights to major cities in Southeast Asia, where the market opportunity is large and growing.
• Establish a competitive advantage by leveraging the ANA Group's LCC knowledge to achieve high business efficiencies along with quality.

• International Passenger Business: Achieve a growth trajectory over the mid-to-long term
  ⚫ Reorganize and strengthen the ANA Group network to increase capacity to approximately 105% in FY2025 compared to FY2019 levels.
  ⚫ Through the development of three brands, capture various travel demand trends based on target customers of business, leisure and foreign inbound visitors to Japan.

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• Domestic Passenger Business: Building a stable foundation

• ANA and Peach will jointly develop flight schedules and flexibly adjust routes and flights in response to passenger demand.
• Increase capacity for ANA and Peach combined to approximately 105% in FY2025 compared to FY2019 levels.

• Cargo Business: Maximize earnings as a combination carrier

• Manage operations based on demand trends as a "combination carrier" that utilizes both passenger aircraft and freighters.
• With growing demand between Asia and North America, and the utilization of large freighters, increase capacity to 110% in FY2025 compared to FY2019 levels.

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