IR Presentation Material

(1)

IR Presentation Material

April, 2021

p

Oriental Land Co., Ltd.

This material has been specifically prepared for institutional investors who are not familiar with our company, and is not presentation material for the earnings presentation.

(2)

I. Business Outline

I-I. Theme Park Business

I II Hotel Business

II. 2020 Medium-term Plan

III. Growth Investments beyond FY3/22

IV For Long term Sustainable Growth

I-II. Hotel Business

I-III. Overview

IV. For Long-term Sustainable Growth

V. Appendix

Cautionary Statement

This document includes statements about Oriental Land’s plans, estimates, strategies and beliefs.

2

The statements made that are based on historical fact represent the assumptions and

expectations of Oriental Land in light of the information available to it as of the date when this

document was prepared, and should be considered as forward-looking.

Oriental Land uses a variety of business measures to constantly strive to increase its net sales and

management efficiency.

However, Oriental Land recognizes that there are certain risks and uncertainties that should be

considered which could cause actual performance results to differ from those discussed in the

forward looking statements

forward-looking statements.

Potential risks could include, but are not limited to, weather, general economic conditions, and

consumer preferences. Therefore, there is no firm assurance that the forward-looking statements

in this document will prove to be accurate.

2

Theme Park attendance figures have been rounded. Financial figures have been truncated.

All rights reserved.

(3)

(4)

Corporate Profile

I. Business Outline

Corporate Data

Established

July 11 1960

Stock Information

Tokyo Stock

Established

July 11, 1960

Total Assets

[consolidated]

¥1,040.4 billion

Stock Listing Code

No.

Tokyo Stock

Exchange, First

Section 4661

[

]

Shareholders’

Equity

[consolidated]

¥759.9 billion

Investment Unit

100 shares

Stock Price

¥15,610

4

[consolidated]

Bond Ratings

JCR : AA [Stable]

R&I : AA

-

_[Stable]

Aggregate Market

Price

¥5,677.2 billion

[As of March 31, 2021] [As of April 27, 2021]

Corporate Mission

Business Domain

“W

b i

th t fill

[As of March 31, 2021] [As of April 27, 2021]

Our mission is to create happiness and

contentment by offering wonderful

dreams and moving experiences created

with original imaginative ideas

“We pursue businesses that fill your

heart with energy and happiness”

We strive to create new value in a high-value business for enriching and nourishing people’s hearts

4

with original, imaginative ideas

_{and appealing to abundant humanity and happiness}

(5)

History and Business Description

I. Business Outline

Disney Hotels [under direct management]

Shops and restaurants, cinema complex, etc.

Monorail service provided around

the resort

1960 Oriental Land Co., Ltd. [OLC] was established

1962 OLC and Chiba Prefecture concluded the Urayasu

History

Tokyo Disney Resort

Ikspiari

Disney Ambassador

Hotel 1962 O C a d C ba e ec u e co c uded e U ayasu

District Land Reclamation Agreement

1964 Reclamation work began off the coast of Urayasu

[completed in 1975]

OLC and Walt Disney Productions [currently Disney

Tokyo Disneyland

Tokyo DisneySeaHotel MiraCosta Tokyo

Disneyland Hotel 1979

OLC and Walt Disney Productions [currently, Disney Enterprises, Inc.] concluded an agreement on the licensing, design, construction and operation of Tokyo Disneyland

1983 Tokyo Disneyland opened

5

Tokyo DisneySea

1983 Tokyo Disneyland opened

1996 Listed on the first section of the Tokyo_{Stock Exchange}

2000 Ikspiari and Disney Ambassador Hotel opened

Tokyo Disney Resort Official Hotels 2001 Disney Resort Line, Tokyo DisneySea, and Tokyo

DisneySea Hotel MiraCosta opened

2008 Tokyo Disneyland Hotel opened

Milial Resort Hotels Co Ltd (MRH) acquired all

The first Disney Theme Park outside of the U.S.

The only “Sea”-themed Disney Theme Park in the world

2013 Milial Resort Hotels Co., Ltd. (MRH) acquired all

stocks of Brighton Corporation Co., Ltd.

2016 Tokyo Disney Celebration Hotel opened

5

Managing and operating a large scale theme resort offering versatile

Entertainment facilities

(6)

Unique Competitive Advantage to Support Our Earnings

I. Business Outline

1. Prime Locations

2. License Agreement with Disney

1. Prime Locations

Vast Land Holdings

Own approx. 2,000,000 m2

2. License Agreement with Disney

Period

2046 at maximum

Note: When facilities open as planned, the agreement period can be extended to 2076 at maximum

pp , ,

[approx. 500 acres] of land easily accessible from central Tokyo

Huge Market

2076 at maximum

Activities

Covered

Management and operation of Tokyo

Disney Resort, etc.

C

id

ti

Payment of royalties fees based on net

Approx. 30 million of high income

households living within 50km [30 miles] radius

Consideration

Payment of royalties fees based on net

sales [yen basis]

Relationship

No capital or personnel relationship

O l OLC

t

Di

Th

P

k i J

6

Only OLC operates Disney Theme Parks in Japan

3. Human Resources with

Magnificent Hospitality

g

p

y

Raise the level of

Employee Satisfaction

Raise the level of

Guest Satisfaction

東京 _千葉神奈川 Tokyo Chiba Saitama Ibaraki

Diverse measures and education/training programs

are implemented with as much focus on employee

satisfaction as on Guest satisfaction

神奈川 _Chiba Kanagawa

6

Establish stable earnings base by implementing structural/non-structural

strategies that capitalize on the advantageous location

(7)

Mechanism of Value Creation

I. Business Outline

U i

titi

V l

Unique competitive

advantage

Business model

Value

provided

Hotel

Business

Segment

New

investment

(1) Prime Locations

Segment

←Enhanced appeal

increases cash flow

Increasing

corporate value

7

(2) License Agreement with

Disney

(3) Human Resources

Enhance appeal by

_{making additional}

investments on an

Theme Park

Segment

corporate value

“Creating

Happiness”

Oth

investments on an

ongoing basis →

Attract more

Other

Business

Segment

Guests/Increase

sales per Guest

7

Deliver more happiness by making tangible and intangible investments

to increase corporate value

(8)

Changes in Business Results

I. Business Outline

Net Sales and Operating Margin

Operating Profit and Profit

Consolidated net sales [¥ billion] Consolidated operating profit [¥ billion]

129.2 477.7 479.2

525.6

464.4

Operating margin Consolidated profit attributable to owners of parent

[¥ billion] 113.1 _110.2 96.8 82.3 81.1 90.2 62 2 23.7% _23.0% 24.6% 20.9% 8 62.2 170.5 Influence of Influence of 3/17 3/18 3/19 3/20 3/21 3/17 3/18 3/19 3/20 3/21 [FY] [FY]

COVID-19 pandemic COVID-19 pandemic

(45.9)

(27.0)% (54.1)

8

Our business result decreased as a result of temporary closure of 4 months

(9)

Segment Information

I. Business Outline

Breakdown by Segment and Content of Segments

Consolidated net sales

1 0

Results for FY ended 3/21

Tokyo Disneyland

¥170.5 billion

Theme Park

Segment

o yo

s ey a d

Tokyo DisneySea

9

Hotel Business

Tokyo Disneyland Hotel

Tokyo DinsneySea Hotel MiraCosta

Disney Ambassador Hotel

Tokyo Disney Celebration Hotel

78.7%

Segment

Tokyo Disney Celebration Hotel

_{and others}

Other Business

Segment

Ikspiari

Disney Resort Line

and others

16.8%

9

g

About 80% comes from the Theme Park Segment

(10)

(11)

Trend in Theme Park Attendance

I-I. Theme Park Business

Annual Theme Park Attendance

Tokyo Disney Resort 25th Anniversary

T k Di S

[million people]

%: year on year

Annual Theme Park Attendance

Tokyo DisneySea 5th Anniversary Opening of Tokyo DisneySea Tokyo Disneyland 15th Anniversary Tokyo DisneySea 15th Anniversary 31 30 [+8 2%]32.56 Tokyo Disneyland 20th Anniversary Tokyo DisneySea 10th Anniversary 15th Anniversary Opening of Tokyo Disneyland 30.00 [(0.6)%] 31.30 [+13.8%] 25.35 [(0.1)%] 27.22 [+7.1%] 25.82 [+4.2%] 25.47 [+2.6%] [+8.2%] 20th Anniversary 11 17.46 [+4.6%] Tokyo Disneyland 22.05 [+27.4%] 7.56 [(73.9)%] 9.93 [FY] 3/21 3/04 3/02 3/07 3/99 3/09 3/12 3/14 3/17 3/19

Note: Attendance figures for FY 3/12 and 3/17 decreased from the previous fiscal years respectively because of the influence of earthquakes. Attendance figure for FY 3/21 decreased from the previous fiscal year due to the spread of COVID-19. 3/84

11

Theme Park attendance has increased driven by each anniversary event,

exceeding 30 million on a stable basis

(12)

Trend in Theme Park Attendance

I-I. Theme Park Business

B

kd

f G

b R

i

N

b

f O

G

Breakdown of Guests by Region

Number of Overseas Guests

15 0% 6.0% 8.5% 9.8% 9.6% 10.0% Overse a _3.13 [million people] 27.3% _26.8% 26.6% _29.6% 27.1% 15.0% Other areas in Japan as 2.55 2.95 3.13 _2.90 66.7% _64.7% _63.6% 60.8% 62.9% 85.0% Metrop o A re 1.81 12 olitan ea 0 [FY] 3/16 3/17 3/18 3/19 3/20 3/21 [FY] _3/16 _3/17 _3/18 _3/19 _3/20 _3/21

Metropolitan

Area

・Largest number of Guests accounting

for approx.60%

・Increases in tandem with the

growing number of tourists visiting

pp

Other areas

in Japan

・Mainly Chubu and Koshinetsu regions

・Tends to grow in anniversary years

Overseas

Japan

・More guests can be attracted from

this category

12

Guests from overseas and areas other than metropolitan area

decreased due to COVID-19

(13)

Net Sales per Guest

I-I. Theme Park Business

Net Sales per Guest and Breakdown

[¥]

Ticket price revision policy

Increase in Theme Price sensitivity

13 642

Ticket

Receipts

5 007 5,264 5,339 5,352 _5,292 6,538 11,257 11,594 11,606 11,815 11,614 × ＋Trends in demand

Note: Take external environment including tax hike into consideration

Increase in Theme

Park value Price sensitivity survey result

13,642

• Ticket receipts per Guest increase over

two years since ticket price revision

• Tend to increase in anniversary event

5,007 ,

13

Merchandise*

_{• Development of contents, such as Duffy &}

years

Friends series, lead to increase in

earnings

3,964 4,074 _3,989 4,122 3,877

4,122

Food and

Beverages • Stable net sales maintained regardless of

whether or not events are hold

2,286 2,256 2,286 2,341 2,437 2,982

*Excludes net sales for online Tokyo Disney Resort Shopping service

whether or not events are hold

• Create more dining opportunities

3/16 3/17 3/18 3/19 3/20 3/21 [FY]

13

Achieved increase in net sales per Guest based on meticulous pricing strategy

Note: Each figure for net sales per Guest in FY3/21 grew for the reasons including restriction on ticket types under the limit of COVID-19 pandemic, temporary demand for merchandise, and increased dining opportunities with less waiting time for attractions.

(14)

(15)

Facilities of Hotel Business

I-II. Hotel Business

Di

H t l

Disney Hotels

Disney Ambassador

Hotel

Tokyo DisneySea

Hotel MiraCosta

Tokyo Disneyland

Hotel

Tokyo Disney

Celebration Hotel

Deluxe-type

Value-type

504 rooms

502 rooms

706 rooms

702 rooms

504 rooms

502 rooms

706 rooms

702 rooms

・

Own four Disney Hotels [about 2,400 rooms]

・

Tokyo Disney Resort Toy Story Hotel is scheduled to launch in the 2nd half of FY3/22

15

・

Tokyo Disney Resort Toy Story Hotel is scheduled to launch in the 2nd half of FY3/22

・

New Disney Hotel located inside Tokyo DisneySea is scheduled to launch in FY3/24

Other Hotels

・

Own Brighton-brand hotels [about 600 rooms]

・

Hyatt Regency Seragaki Island Okinawa opened in August, 2018 [joint project of three

companies]

15

Strengthen Hotel business with the growth and expansion of

Tokyo Disney Resort

(16)

Results for Hotel Business

I-II. Hotel Business

Net sales and operating margin for Hotel Business

Net sales [¥ million] Operating margin

72 427

Opening of Tokyo Disney Celebration Hotel 66,144 66,447 72,427 _64,375 16 _28,627 22.1% 24.5% 26.5% 22.9% 3/17 3/18 3/19 3/20 3/21 [FY] (6.8)% 16 16

Net sales and operating profit dropped due to the temporary closure of

(17)

(18)

Changes in Results

I-III. Overview

Operating profit and operating margin

24 6%

Single park era Operating margin:

approx. 20%

Burdened with high depreciation and amortization expenses/increase in costs

Operating margin: approx. 10%

Operating margin improves

Operating margin: approx. 20%

[¥ billion]

Operating profit and operating margin

18.4% 14.6% 11.1% 12.0% 11.5% 11.5% 10.4% _{9.2% 9.9% 9.1% 10.3%} 11.3% 15.1% 18.6% 20.6% 24.2% 23.7% 23.1% 23.7% 23.0% 24.6% 20.9%

Opening of Tokyo DisneySea

34 5 33 6 38 0 38 7 34 5 34 1 40 0 41.9 53.6 66.9 81.4 114.4 110.6 107.3 113.1 110.2 129.2 96.8 Influence of COVID-19 18 34.5 25.4 22.1 33.6 38.0 38.7 34.5 30.6 34.1 31.1 40.0 41.9 (27.0)% 3/99 3/00 3/01 3/02 3/03 3/04 3/05 3/06 3/07 3/08 3/09 3/10 3/11 3/12 3/13 3/14 3/15 3/16 3/17 3/18 3/19 3/20 3/21 [FY] pandemic

Operating profit [¥ billion] Operating margin (45.9) Operating cash flow*1 26.7 22.2 23.1 50.6 66.8 64.5 61.7 59.0 59.2 58.3 67.8 72.1 65.1 74.0 87.6 107.5 106.7 109.9 120.6 118.5 128.5 101.6 (8.2) Depreciation and amortization*2 11.6 12.4 18.4 37.9 47.9 45.9 44.5 43.3 42.9 43.6 49.7 46.6 42.2 41.9 36.1 36.9 34.6 35.9 38.2 37.3 38.2 39.4 45.8 Operating margin

Note: The 3/99 results are unconsolidated.

*1 Operating cash flow = Profit attributable to owners of parent + Depreciation and amortization

*2 Depreciation and amortization costs include that of which have been transferred to non-operating expenses and extraordinary losses.

amortization Capital

expenditures 59.8 130.4 182.2 109.7 14.8 29.2 46.8 43.1 54.8 52.6 40.1 19.4 27.9 23.2 28.7 20.3 37.0 39.7 50.9 59.8 86.0 139.6 108.3

18

Operating margin is expected to rise to a higher level after pulling through

the phase of high burden of depreciation and amortization expenses

(19)

Results for the FY Ended March 2021

I-III. Overview

Year-on-year comparison

Net Sales

464 4

170 5

(293 8)

(63 3)

Changes [¥ billion] FY3/20

[¥ billion] [¥ billion]FY3/21 Changes[%]

Net sales

Decreased due mainly to the measures to prevent the spread of COVID-19 such as the temporary closure of Tokyo Disneyland, Tokyo DisneySea, and Disney

H t l ll th ti ith li it d tt d

Net Sales

464.4

170.5 (293.8)

(63.3)

Theme Park Segment 384.0 134.2 (249.7) (65.0) Hotel Business 64 3 28 6 (35 7) (55 5)

Hotels as well as the operation with limited attendance after reopening our Parks although net sales per Guest increased year on year.

Operating profit

Declined owing to a drop in net sales even though

Segment 64.3 28.6 (35.7) (55.5)

Other Business

Segment 16.0 7.6 (8.3) (52.3)

O

ti

P fit

96 8

(45 9)

(142 8)

Declined owing to a drop in net sales even though operating expenses were reduced due to the

temporary closure of both Parks and changes made to Theme Park operations and a part of operating

expenses was transferred to extraordinary loss.

19

Operating Profit

96.8 (45.9)

(142.8)

-Theme Park

Segment 79.6 (41.9) (121.6)

-Hotel Business

Comparison with the forecast

Net sales

Hotel Business

Segment 14.7 (1.9) (16.7)

-Other Business

Segment 2.1 (2.3) (4.4)

-Fell below our forecast owing to limited Theme Park attendance in line with the state of emergency and other factors even though net sales per Guest surpassed projected figure.

Operating profit

Ordinary Profit

98.0 (49.2)

(147.2)

-Profit Attributable to

Owners of Parent

62.2 (54.1)

(116.4)

-Operating profit

Exceeded the forecast announced in Oct. mainly because operating expenses were lower than

expected although net sales were below our projection.

19

Net sales and all levels of profit decreased year on year due to

the temporary Park closure and limited Theme Park attendance

(20)

Financial Results

I-III. Overview

Changes in net sales and operating profit and reasons for changes

74.2

52.9

77.9

33 4

g

Feb. 29 Parks temporarily _{Jul 1 Parks resumed} Sep. 28 Tokyo Disneyland _{Large-Scale Development}

Net sales Operating profit

[¥ billion]

Jan. 8 State of emergency

[Attendance] [Attendance] [Attendance]

Li it d tt d i li ith A t P k [Attendance]O t 30 G id li d (100 % [Attendance]

6.1 (4.1) _(15.6) 4Q of FY 3/20 1Q of FY 3/21 33.4 (8.5) _4.3 _(26.1) 2Q of FY 3/21 3Q of FY 3/21 4Q of FY 3/21 p y

closed Jul. 1 Parks resumed _operations Large-Scale Development _{area opened}

Reasons for cha n sales [ ] Temporary Park closure [ ]

Temporary Park closure

[Tickets/

merchandise/food and beverages]

・ May 26‒Jun. 24: Offered opportunities to purchase goods sold at

・ Limited attendance in line with Amusement Park and Theme Park New Coronavirus Infection Containment Guidelines (50% or less)

[Tickets/merchandise/food and beverages]

・Revised ticket prices＊1

・Limited ticket types valid for admission ・Strong demand for event-related merchandise

that could not be sold during temporary Park closure

・Oct. 30 Guidelines were eased (100 % or less)

・Aug. 7-Dec. 31: Held Park admission lotteries for Annual Passport holders ・Dec. 1: Started holding lotteries for open

date Park tickets

・Nov. 1: Started offering online shopping service on app to all members of the public

[ ]

・Jan. 12-Mar. 21: Daily attendance was limited to 5,000 for each Park when the declaration of state of emergency was issued

・Mar. 22: The attendance limit was raised to 10,000, in principle, for each Park

20

nge in net _{Parks via app} _{・Aug. 4-Oct. 31: Online shopping service offered} on app to Annual Pass holders regardless of whether or not they are visiting Parks

pp p

including those who are not visiting Parks ・Oct. 1: Started selling alcoholic beverages

on a trial basis at Tokyo Disneyland

・Introduction of variable pricing for tickets

R

e [All areas]・Fixed expenses registered as extraordinary [All areas]_{・Increase due to resumed Park operations} [All areas]・Increase due to phased increase of [All area]_D _d _{t d li} _i

easons

for chan

g

operating profi Fixed expenses registered as extraordinary loss ・decrease due to temporary Park closure

[Personnel expenses]

・May 18: Started furlough of employees ・Reduced directors’ compensation (voluntarily

returned up until May 2020)

・Partially reduced summer bonus payments to managerial personnel

・Increase due to resumed Park operations

・Received employment adjustment subsidy＊2

・Reduced winter bonus payments to full-time employees

[Miscellaneous costs]

・Decreased sales promotion costs and costs related to special events

Increase due to phased increase of attendance

・Sep. 30: Terminated payment of ad-hoc special leave allowance of Cast Members and show performers

・Sep. 30: Terminated furlough of full-time employees

[Depreciation and amortization]

・Increase due to opening of Tokyo

・Decrease due to decline in attendance

・Received employment adjustment subsidy＊2

・Jan. 8: Shortened Park operating hours; shortened store hours at or

l d t

ges in

t _{・Increase due to opening of Tokyo}

Disneyland Large-Scale Development area _{・Resumed payment of ad-hoc special}closed some stores leave allowance from Jan.

*1_{Although the ticket price revision was implemented on April 1, 2020, it only began to take effect on July 1, 2020, when Parks were reopened.} *2_{Of the employment adjustment subsidy received due to the COVID-19 pandemic, the amount received [including the estimate amount to be}

received] for reasons other than the temporary closure of our Parks was deducted from operating expenses.

20

Flexibly changed operations and promoted measures to reduce costs

(21)

Safety Measures

I-III. Overview

All areas

• Ensuring health management and physical distancing, implementing cleaning and sterilization

• Limiting attendance, shortening Park operating hours, and introducing Fixed Date and Time Passport

Time Passport

Attractions

• Closing part of indoor facilities and interactive facilities • Installing acrylic partitions between attraction seats

I t d i St db P d t t t [F S 23 i h ]

• Introducing Standby Pass and entry request system [From Sep. 23 in phases]

Entertainment

• Operating shows parades and character greetings while changing direction of 21

Operating shows, parades, and character greetings while changing direction of performance

M

h di

• Promoting the use of online Tokyo Disney Resort Shopping service

Merchandise

Promoting the use of online Tokyo Disney Resort Shopping service

• Recommending payment by credit card or other means of cashless payment • Installing acrylic barriers at cashier counters

• Providing crowd-level forecasts for major shops on Tokyo Disney Resort official website

Food and beverages

• Introducing two-dimensional barcodes for checking menus

• Recommending payment by credit card or other means of cashless payment • Installing acrylic barriers at cashier counters

21

Operation that gives top priority to safety and peace of mind

(22)

State of Financing

I-III. Overview

Changes in capital resources*

1

_{and liquidity}

Changes in capital resources

1

_{and liquidity}

Rough plan of

Line of credit

Corporate bonds [unissued]

Cash and securities [include corporate bonds of ¥30 billion issued in

200

716

[¥ billion]

g

capital allocation

Complementary

working capital for

use until recovery

736

680

Mar. 2015 and ¥100 billion issued in Sep. 2020]

Cash and securities [corporate bonds issued in Jan. 2019] Earthquake risk financing

100 100 100 200 200 200 200

431

535 Continued growth

investments

・ Tokyo Disney Resort Toy Story Hotel [approx. ¥31.5

use until recovery

22 50 50 50 50 50 231 135 216 236 180 billion]

・ Tokyo DisneySea Large-Scale Expansion Project [approx. ¥250 billion]

Working capital

Issuance of corporate bonds [¥100 billion] 150 150 150 150 150 50 50 50 50 50

End of 3/20 End of 6/20 End of 9/20 End of 12/20 End of 3/21

Capital set aside

for earthquake

risks

Working capital

End of 3/20 End of 6/20 End of 9/20 End of 12/20 End of 3/21

*1 Include corporate bonds [unissued] and line of credit

*2 Total of cash and deposits and securities Amount registered on consolidated balance sheet*2 281 185 266 286 230 22 22

Secured necessary capital resources to acquire immediately available

working capital and funds for medium- and long-term growth

(23)

I-III. Overview

Outlook for the Fiscal Year Ending March 2022

In view of the application of the “priority measures to prevent the spread of disease” to Urayasu

Cit

Chib P

f

t

d th

t

l

i

t h

d it i diffi

lt t f

l t

City, Chiba Prefecture, and the opaque external environment ahead, it is difficult to formulate a

highly accurate financial forecast of results for FY3/22. We will therefore disclose our forecast

when circumstances change for the better.

Policy and Funding Status for FY3/22

y

g



Implement rigorous infection countermeasures and set limits on attendance to

ensure safety and peace of mind throughout the year



Continue discussing measures to increase net sales per Guest

Sales



Enhance cost efficiency in line with attendance level



Re-examine work volume and scrutinize non-essential/non-urgent costs

Cost

Capex



Project capital expenditure to be in the ¥130 billion range and depreciation and

amortization expenses to be in the ¥45 billion range

23

p

DP

Funding

p

g



The depreciation method, mainly for tangible assets of Tokyo Disneyland will be

changed from declining-balance to straight-line



Prepare capital resources* in order to secure working capital for use and capital for

growth investments

Dividend

Funding

growth investments

*Include line of credit [¥200 billion] and unissued corporate bonds [¥100 billion]



An annual dividend per share is not yet determined although policy of aiming steady

payout of cash dividends

Current Operation Status



Apr. 20-May 11: Daily attendance is limited to 5,000 for each Park, and Park operating hours are

shortened to from 9AM to 8PM

E h Di

H

l

i h li i d

b

f

ld

23



Each Disney Hotel operates with limited number of rooms sold



Ikspiari shortens operating hours



Disney Resort Line continues its operation

(24)

(25)

II. 2020 Medium-term Plan

1. Review of 2020 Medium-term Plan

St

th

b

i

f

d ti

t

d l

t

2020 Medium term Plan

Results

Policy:

Strengthen business foundation toward long-term

sustainable growth

2020 Medium-term Plan

Results



Up until FY3/20, the Intent to Return

rate, an indicator of Guests’

ti f ti

i t i d t hi h

To consistently provide a highly

satisfying Theme Park experience

satisfaction, was maintained at high

levels



As the Park environment changed

considerably in FY3/21, we took

25

Target

considerably in FY3/21, we took

rigorous measures against COVID-19,

giving top priority to safety and peace

of mind

To achieve record high Theme Park

attendance and operating cash flow* in

FY3/21

Withdrawal of quantitative target due to

changes in management environment

*Operating cash flow = Profit attributable to owners of parent + Depreciation and amortization

25

Up until the COVID-19 pandemic, we had been achieving growth in both attendance

and operating cash flow, with Guests’ satisfaction maintained at high level

(26)

II. 2020 Medium-term Plan

1. Review of 2020 Medium-term Plan

2020 Medium-term Plan

Results

2020 Medium term Plan

Results

Strengthen

Novelty

 Tokyo Disney Resort 35th Anniversary event

 Introduction of “Soaring: Fantastic Flight”

O i f T k Di l d L

Core

B

u

structural aspects

to provide “novelty”

and “comfort”

Made steady progress

up until the end of

FY3/20

 Opening of Tokyo Disneyland Large-Scale Development area

Comfort

 Renovation of service facilitiesStart offering official app and added new

usiness Str

a

↓

In FY3/21, reviewed

action plan to give top

g pp functions

Strengthen

non-l

Create a

comfortable

 Started hiring “Theme Park operations employees”

 Expanded the scope of employees 26

ategy

_{priority to taking}

measures against

COVID-19

structural aspects

[human resources

capacity] on a

long-term

t i bl b i

workplace

environment

y working at home

 Providing nursery facility within the company

Promote a

 I h it lit

sustainable basis

_{tangible sense of}

personal growth

 Improve hospitality

 Strengthen career support

Fin

a

P

o

Allocate operating cash flow to growth

i t t d i t h t

Up until FY3/20, operating cash flow was allocated to growth investments.

I FY3/21 d li idit h d d it th h ll i b i

St

th

d b i

f

d ti

b

t d

ti

f

ti iti

ancial

olicy

_{investment and aim to enhance corporate}

value

In FY3/21, secured liquidity on hand despite the challenging business environment, and continued with our growth investments

26

Strengthened business foundation by steady execution of activities

based on core business strategy and continued with growth investments.

(27)

II. 2020 Medium-term Plan

2. Actions Taken in FY3/21

FY3/21

Temporary

closure

July

Aug.

Sep.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

M

l

d

t d

id t COVID 19

d

i



Introduced Standby

Pass system

Expansion of applicable

attractions

Measures planned and executed amid to COVID-19 pandemic



Advance ticket

reservation system



Introduced entry

request system



Started offering online shopping service on app



Introduced

two-dimensional barcodes for

checking menus

27

to all members of the public including those who

are not visiting Parks



Started holding lotteries for Park

tickets

Swiftly implemented digital initiatives as part of our infection countermeasures

by bringing forward some measures that had been under discussion and

applying the results of past actions

Measures implemented as part of our infection countermeasures

ill b

i d f

ibl

d

i

applying the results of past actions

27

will be examined for possible upgrades and expansions.

Transformation of business structure is required to prepare

(28)

(29)

Tokyo Disney Resort Toy Story Hotel

III. Growth Investments beyond FY3/22

Owner: Oriental Land Co Ltd Management

Form

Owner: Oriental Land Co., Ltd.

Management/Operations: Milial Resort Hotels Co., Ltd. [100% subsidiary of Oriental Land Co., Ltd.]

Start of

2 d h lf f FY3/22 [ h d l d] 29

Business 2nd half of FY3/22 [scheduled] Floor Space About 40,000㎡ [hotel building only]

Number of 595

Rooms [11 floors above ground, 1 basement]

Facilities

・Restaurant ・Disney shop

Flat and multistory parking lots etc

Tokyo Disney Resort Toy Story Hotel

FY 3/22, Approx.

FY 3/22, Approx. ¥¥31.5 billion

31.5 billion

・Flat and multistory parking lots, etc. Capital

Investment Approx. ¥31.5 billion

29

Category Moderate type

Note: This is not an exact representation of the development site.

(30)

Tokyo DisneySea Large-Scale Expansion Project

III. Growth Investments beyond FY3/22

Tokyo Disneyland

Tokyo DisneySea Large Tokyo DisneySea Large--Scale Scale E i P j t D l t Sit E i P j t D l t Sit

Tokyo DisneySea

Note: This is not an exact representation of the development site

Expansion Project Development Site Expansion Project Development Site

FY 3/24, Approx. ¥250 billion

30

Area

About 100,000m

2

_{[about 140,000m}

2

_{including backstage area]}

Opening

FY 3/24 [scheduled]

Note: This is not an exact representation of the development site

Themes of the

areas and the

number of

facilities

Frozen

1 attraction, 1 restaurant

Tangled

1 attraction, 1 restaurant

Peter Pan

2 attractions, 1 restaurant

ac

es

ete

a

a ac o s,

es au a

Effectiveness of

investment

Investment amount

Approx. ¥250 billion

Investment effect

・Boost-up effect on net sales by ¥50 billion annually

・Consolidated net sales are expected to reach the range

of mid ¥500 billion to the high ¥500 billion

30

Composed of three areas, four attractions, and a hotel

₃₀

©Disney

(31)

Disney Hotel Categories

III. Growth Investments beyond FY3/22

Tokyo Disneyland Hotel

31

Tokyo Disney

Celebration Hotel

Tokyo DisneySea

Hotel MiraCosta

New Disney Hotel located

inside the Park

Tokyo Disney Resort

Toy Story Hotel

inside the Park

[475 rooms, 2 restaurants, etc.] Note: Artist concept only

Toy Story Hotel

Note: Artist concept only

Disney Ambassador Hotel

Luxury Type

Deluxe Type

Value Type

Moderate Type

31

Provide more options for Guest demands

©Disney/Pixar

(32)

Policy for Long-term Growth

III. Growth Investments beyond FY3/22

The new plans will apply to all seven themed lands, including Fantasyland. An area-based development for each themed land is intended to leave a lasting impact on the park

Tokyo Disney Resort

To achieve a significant breakthrough, the expansion of the existing site and utilization of new development will create an environment with a higher degree of Guest satisfaction from qualitative as well as quantitative standpoint

of Guest satisfaction from qualitative as well as quantitative standpoint <Hotels within Tokyo Disney Resort>

To add more value to Tokyo Disney Resort as a whole, improve the environment

32

as a resort, including making more guest rooms, and increase value of the stay

E t bli h t f O i t l L d I ti

Further boost the level of net sales with continued large-scale investment

New Business

・ Establishment of Oriental Land Innovations

・ Regardless of the establishment of new company, we will continue on the research on the business field expected to grow, and widely consider to contribute to persistent growth of the OLC group

・ Plans for the new business aimed at growing it into single business segmentPlans for the new business aimed at growing it into single business segment will be considered in ways that are not by specific timeframe

Broader investigation for further development

32

Formulate policy from a long-term perspective and realize plans

(33)

(34)

IV. For Long-term Sustainable Growth

For Long-term Sustainable Growth [e.g., ESG]

Strategy Roadmap

Address global environmental and social issues as

an integral part of our management and business

strategies to aim for more sustainable management

ESG project team launched

[Nov. 2020]

Contribute to achieving the SDGs

34

2020 Medium-term

_Preparation

Next Medium-term

Apr. 2021

Apr. 2017

Plan

Apr. 2022 [tentative]

p period 34 34

Establish strategies to contribute to a sustainable society and achieve profit

(35)

IV. For Long-term Sustainable Growth

For Long-term Sustainable Growth [e.g., ESG]

Recognition of Environmental Change

g

Issues recognized prior to the COVID-19 pandemic

Strategies so far Risks

[1] Continuously make large-scale investments to generate value to motivate

Park visits Surging development/construction costs

Park visits g g p

[2] Secure a large volume of Guests to sustain the apparatus industry Decrease in total population [3] Secure a sufficient number of employees to attend to the large volume of

Guests Decrease in working-age population

[4] Make concentrated investments in the Maihama area Climate change/natural disasters [4] Make concentrated investments in the Maihama area Climate change/natural disasters

Recognition gained through COVID-19 pandemic

・Value of happiness brought about by person-to-person interactions

＋

35

Future Direction of Businesses

Value of happiness brought about by person to person interactions

・Diversified perspectives on leisure activities resulting from altered awareness of the 3 Cs [Closed spaces; Crowded places; Close-contact settings]

Existing

businesses

Evolve business operations to offer options that more closely cater to Guest needs; Improve our capacity to address fluctuations in demand to enhance the added value of the Tokyo Disney Resort as a whole

E.g., Leverage innovation E.g., Enhance Guest _engagement

New

businesses

Take on the challenge of establishing new businesses that help us resolve issues and enhance values in our core business, and provide us with growth opportunities

E.g., Help children gain

experience E.g., Labor saving; flexible staffing; manpower saving E.g., Measures against heat and cold; energy consumption

35

Consider addressing ESG issues as an integral part of management

and business strategies

(36)

IV. For Long-term Sustainable Growth

Environmental Materiality [Updates on Discussions]

Ｅ

Quantitative target/ Target SDG to

Materiality Direction of measures What we aim to be Indicator (KPI) Quantitative target/

Target status Target FY contribute _to Meas u chang Contribute to achieving a decarbonized society Contribute to achieving a decarbonized society by reducing greenhouse gas

Amount of greenhouse gas 40% reduction from FY 3/19 level 2030 u res t o a d d re s s e and natural d a decarbonized society [Mitigate climate change]

reducing greenhouse gas emissions and mitigating climate change

greenhouse gas emissions

Net zero emissions 2050

Strengthen resilience What we aim to be s climate d isaste rs Strengthen resilience [Adaptation to climate change]

Identify risks posed by natural disasters and rising temperatures stemming from climate change and consider measures to strengthen the resilience of facilities and manuals

Ad t i ・Adopt resource-saving products/services and easily reusable/recyclable resources, engineering

36 Measu r circul a t Adopt resource-saving products/services and reduce waste

Adopt resource saving products/services and easily reusable/recyclable resources, engineering and design with the aim of contributing to achieving a circulation-type society

・While pursuing conventional recycling projects, focus on new solutions to help increase the recycling rate and achieve resource sustainability

Use sustainable resources

Give preference to resources that promote sustainability with the aim of contributing to resource sustainability re s to promote tion-ty pe soci e y

Make effective use of water resources

Strive to reduce water intake and promote wastewater recycling with the aim of contributing to water resource sustainability

Contribute to forming

・Strive to reduce the amount of chemical substances used and implement proper management thereof to alleviate environmental impact, thereby contributing to forming symbiotic relations with nature

e

ty _{Contribute to forming}

symbiotic relations with nature

with nature

・Strive to reduce the amount of air pollutant emissions to alleviate environmental impact, thereby contributing to forming symbiotic relations with nature

・Strive to preserve biodiversity in the local communities in which we engage in business, thereby contributing to forming symbiotic relations with nature

36

Promptly strengthen measures to address environmental issues

(37)

IV. For Long-term Sustainable Growth

Social and Governance Materiality [Updates on Discussions]

Ｓ

Ｇ

Materiality

Direction of measures

F t HR ith t ti it

Ｓ

Society

Employees

Foster HR with spontaneous creativity Promote HR diversity

Provide a fulfilling workplace environment

Children Help children achieve their hopes and dreams

Diversity ＆ Inclusion

Respond to changes in social and Guest needs based on employees’ diverse values

Implement systematic measures to respect human rights 37

Implement systematic measures to respect human rights

Supply chain management Promote sustainability and collaboration across supply chains

Ｇ

Materiality

Direction of measures

Governance

Fairness in business

management Fair decision-making

Stakeholder engagement Achieve relationships of trust and collaboration with stakeholders

based on open dialogues

37

To be determined based on stakeholder engagement and further discussions

based on open dialogues

(38)

(39)

Using Digital Technology to Enjoy the Park

V. Appendix

Before visiting

• Purchase Park ticket

• Make restaurant booking if venue accepts reservations [reservations

can also be made on day of visit and at restaurant]

y

]

Tokyo Disney Resort App_{12 million downloads}

• Check digital Park map/waiting times/facility information

• Check products sold at Parks

• Online hotel check-in

12 million downloads achieved (as of Feb. 2021)

After entry

• Obtain Disney FASTPASS*

Online shopping [transactions can be made until 23:30 on day of visit]

39

• Online shopping [transactions can be made until 23:30 on day of visit]

• Show/parade-viewing lottery*

• View/purchase photos taken at Parks [“Disney Photo”]*

• Electronic money accepted

Digital Park map

Measures currently taken against COVID-19 pandemic

y

p

*Services currently suspended due to COVID-19 pandemic

©Disney

• Expanded shopping service via official app

• Introduced Standby Pass and Entry Request system

Tokyo Disney ResortShopping service

39

Promote utilization of digital technology to enrich

Park experience of each Guest

(40)

Oriental Land Co Ltd

Oriental Land Co., Ltd.

Investor Relations Group, Finance/Accounting Department

URL: www.olc.co.jp/en

[Disclaimer]

This document includes statements about Oriental Land’s plans, estimates, strategies and beliefs. The statements made that based on historical fact represent the assumptions and expectations of Oriental Land in light of the information available to it as of the date when this document was prepared and should be considered as forward-looking available to it as of the date when this document was prepared, and should be considered as forward looking. Oriental Land uses a variety of business measures to constantly strive to increase its net sales and management efficiency. However, Oriental Land recognizes that there are certain risks and uncertainties that should be considered which could cause actual performance results to differ from those discussed in the forward-looking statements.

Potential risks could include, but are not limited to, weather, general economic conditions, and consumer preferences.

Th f th i fi th t th f d l ki t t t i thi d t ill t b t

Therefore, there is no firm assurance that the forward-looking statements in this document will prove to be accurate. Theme park attendance figures have been rounded. Financial figures have been truncated.

IR Presentation Material