Tranche Update on Tobu Railway Co., Ltd.'s Equity Buyback Plan announced on February 8, 2023.

Tobu Railway Co., Ltd. specializes in railway transportation services. The group is also developing retail, leisure centers operating and real estate promotion activities. Net sales break down by activity as follows: - retail distribution (38.8%); - railway transportation services (28.5%): detention, at the end of March 2021, of a network of 463.3 km of railway lines. Tobu Railway Co is also providing transportation by bus and taxi services; - development and promotion of real estate assets (9.7%); - leisure centers and hotels operating (7%); - other (16%).