Citigroup Global Markets Japan Inc. Naoko Matsumoto Equity Daiwa Securities Capital Markets Co., Ltd. Hajime Hitotsuyanagi Equity Deutsche Securities Limited Seigo Ando Equity Goldman Sachs (Asia) L.L.C. Thomas Kim Equity JPMorgan Securities Japan Co., Ltd. Hitoshi Hosoya Equity Merrill Lynch Japan Securities Co., Ltd. Yasuhito Tsuchiya Equity Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. Ryouta Himeno Equity Mizuho Investors Securities Takahiko Kishi Equity Mizuho Securities Co., Ltd. Satoru Kunieda Equity Mizuho Securities Co., Ltd Mitsuyoshi Takahashi Bond Morgan Stanley MUFG Securities Co., Ltd. Takuya Osaka Equity Nomura Securities Co., Ltd. Makoto Murayama Equity Nomura Securities Co., Ltd. Kazuma Ogino Bond SMBC Nikko Securities Inc. Takayuki Atake Bond UBS Securities Japan Ltd. Jun Harada Equity (Company names are in alphabetic order / titles are omitted) This analyst list includes individuals who we have confirmed as issuing a report regarding ANA during the past six months. Please note that there may be other analysts who we are not aware of and who therefore are not included on this list. Also, our information may be incomplete or may not include changes such as analysts who have been transferred, etc. This list is provided for the purpose of disseminating information required to introduce corporate business research companies or research analysts to our investors, and is not intended to be used for the purpose of promoting our stock sales. In addition, ANA does not support any these analyst’s prospects, opinions, or recommendations and does not guarantee the consistency of any related information. Analysts included or not included on this list have conducted research on our business and have analyzed our business results based on their own judgment. ANA or ANA’s management directors are not involved in any of these procedures or matters. Final investment decisions should be made at your discretion at the time of the actual investment.