Notice Regarding Status of Treasury Stock Acquisition (Based on Provision in Article 165, Paragraph 2 of the Companies Act)

Overview of Capital Policy

Japan Airlines Co., Ltd. has been implementing treasury stock acquisition based on the Board resolution dated October 30, 2025, applying the provisions of Article 156 of the Companies Act as read together with Article 165, Paragraph 3. From December 1 to December 31, 2025, the company acquired 1,670,600 shares of common stock through market purchases on the Tokyo Stock Exchange at a total price of 4,827,638,150 yen. The cumulative number of shares acquired reached 4,306,900 shares as of December 31, 2025, with a total acquisition cost of 12,485,833,700 yen. The Board resolution sets the acquisition limit at 8,000,000 shares and the acquisition cost limit at 20 billion yen.

Impact on Shareholders and Future Outlook

The acquired treasury shares may be used for strategic investments (M&A) or as stock compensation for officers and employees, with the possibility that some or all may be cancelled if not utilized. The acquisition volume limit is approximately 1.8% of the total issued shares (excluding treasury shares), aimed at shareholder returns and enhancing management flexibility as part of the capital policy. The company intends to continue acquisitions based on market conditions.