NEW KANSAI INTERNATIONAL AIRPORT 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 to shareholders or registered pledge holders listed or recorded in the final shareholder registry as of March 31 each year, subject to approval by the shareholders' meeting." However, our group carries substantial debt, and we have made it a corporate responsibility to "ensure early and reliable repayment of debt incurred in the development of Kansai International Airport." Accordingly, we prioritize debt repayment.</p>
<p style="margin-left: 24px; text-align: left">Additionally, under Article 25 of the Integration Act, we are required to obtain approval from the Minister of Land, Infrastructure, Transport and Tourism regarding dividend distributions and other dispositions of retained earnings.</p>
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<p>While our articles of incorporation provide for cash dividends once per year, we prioritize debt repayment given our substantial debt obligations. Any distribution of retained earnings requires approval from the Minister of Land, Infrastructure, Transport and Tourism.</p>

NEW KANSAI INTERNATIONAL AIRPORT COMPANY,LTD. (E27012) Dividends

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