KANSAI INTERNATIONAL AIRPORT LAND COMPANY,LTD.

<h3>3. Dividend Policy</h3>
<p style="margin-left: 24px; text-align: left">Our Articles of Incorporation stipulate that "cash dividends from retained earnings shall be paid annually to shareholders or registered pledgees of shares listed or recorded in the final shareholder register as of March 31, as resolved by the shareholders' meeting." However, given that our company carries substantial debt, we prioritize the smooth repayment of this debt.</p>
<p style="margin-left: 24px; text-align: left">Additionally, under Article 15 of the Integration Law, our company is required to set aside funds as the Kansai International Airport Land Development Reserve Fund, in accordance with regulations established by the Ministry of Land, Infrastructure, Transport and Tourism, to cover expenses necessary for airport land development.</p>

<p>Given our substantial debt obligations, our basic policy is to prioritize smooth debt repayment. Our articles of incorporation stipulate that dividends are paid once annually in cash to shareholders as of March 31st each year. We are required by law to set aside reserves for the Kansai International Airport Land Development Preparation Fund to cover costs associated with airport land development.</p>

KANSAI INTERNATIONAL AIRPORT LAND COMPANY,LTD. (E04351) Dividends

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