NOTICE OF the 73rd ORDINARY GENERAL MEETING OF SHAREHOLDERS [1.49 MB : PDF]

Note: This document has been translated from the Japanese original for the convenience of non-Japanese shareholders. In the event of any discrepancy between this document and the Japanese original, the original shall prevail.

NOTICE OF THE 73rd ORDINARY

GENERAL MEETING OF SHAREHOLDERS

Japan Airlines Co., Ltd.

Dear Shareholders,

I am pleased to notify you of the 73rd Ordinary General Meeting of Shareholders of Japan Airlines Co., Ltd.

In FY2021, the airline industry continued to experience an adverse situation with the prolonged impact of the spread of the novel coronavirus (COVID-19). Nevertheless, the JAL Group has maintained its air transportation network connecting Japan and overseas destinations, while ensuring "Safety and Comfort" as our top priorities.

With passenger operations needing time to recover, we made thorough cost reductions, reining in variable costs by making flexible adjustments to supply and cutting fixed costs, while making multiple efforts to increase revenue in various ways. However, we recorded a substantial loss again this year, for a second consecutive year following FY2020.

In light of the JAL Group's recent operating environment, with the emergence of geopolitical risks and the surging price of crude oil, among other factors, we aim to bolster our risk resilience by securing cash flow liquidity and strengthening our financial position as top priority, and have therefore decided to forego payment of dividends for FY2021. We sincerely apologies to our shareholders and ask for your understanding in this matter.

The JAL Group seeks to fulfill its responsibility as a part of the social infrastructure and a lifeline, while realizing JAL Vision 2030, which is built on the pillars of "Safety and Comfort" and "sustainability." To achieve this, we are implementing the "Medium Term Management Plan Rolling Plan 2022." By incorporating the surging recovery in domestic passenger service demand and the solid demand for air cargo services, and developing business in the non-airline domains such as the Mileage and Lifestyle business, in FY2022, we aim to achieve EBIT of 80.0 billion yen and profit attributable to owners of parents of 45.0 billion yen, and to resume dividend payments. All of our employees are committed to achieving this plan with a strong sense of mission.

Thank you for your continued support.

May 2022

Yuji Akasaka

Representative Director, President

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«Important Notice Concerning the Novel Coronavirus (COVID-19)»

This year, we are placing first priority on ensuring the safety of our shareholders, and to prevent the spread of COVID-19, we are taking the following measures.

• The Company recommend that shareholders exercise their voting rights by mail or via the Internet instead of attending the General Meeting of Shareholders in person. For details, refer to page 5.
• For seniors, people with preexisting medical conditions, pregnant women, people who feel unwell and other shareholders who could suffer serious consequences from infection of the virus, please carefully consider whether to attend the General Meeting of Shareholders.
• On the day of the General Meeting of Shareholders, the content of the business report and the presentation from the Company will be streamed live over the Internet. In addition, the live-streamingcontent and the question and answer session will be available on the following dedicated website for shareholders at a later date for viewing on demand.For instructions on how to view the video stream, please refer to page 5.

• Beginning with the General Meeting of Shareholders held last year, we have changed the venue in order to increase seating capacity. However, due to measures to increase the distance between seats, the seating capacity will be limited. We have therefore adopted a pre-registrationsystem for those planning to attend the meeting, and preferential entry to the venue will be given to shareholders who have registered beforehand.For shareholders who plan on attending the General Meeting of Shareholders, please register on the dedicated website for shareholders beforehand.Pre-registration opens at 9:00 a.m., Friday, June 3, and will close once the number of available seats has been filled. (Only limited seating will be available for shareholders who arrive at the venue on the day without registering beforehand, and it is quite possible that you will not be able to enter. We ask for your understanding in this matter.)

Dedicated website for shareholders: https://engagement-portal.tr.mufg.jp/

For instructions on how to access the website, please refer to "Using the dedicated website for shareholders" at the end of this document or the enclosed "Creation of a dedicated website for shareholders."

If you are not able to register by the above method, we can accept the alternative registration method described below.

JAL shareholders call center: 03-6733-3090

(excluding Saturdays and Sundays; 10:00 to 12:00, 13:00 to 16:00)

• If there are any changes in the situation up to the date of the General Meeting of Shareholders, the Company will notify shareholders of its response measures on the Company's website (https://www.jal.com/ja/investor/stockholders_meeting/). Therefore, please be sure to check the Company's website before attending the General Meeting of Shareholders.
• Shareholders attending the meeting are requested to wear a face mask. Also, please cooperate with any other measures that may be deployed, such as using an alcohol disinfectant and measuring your body temperature. If it is determined that a shareholder has a high body temperature or looks unwell, that person may not be allowed to attend the General Meeting of Shareholders.
• The proceedings of the General Meeting of Shareholders may be shortened compared to those in usual years.
• The usual displays of business activities will not be shown this year.
• Please note that the organizing staff may be wearing face masks and taking other measures.

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Securities code: 9201

May 30, 2022

NOTICE OF THE 73rd ORDINARY

GENERAL MEETING OF SHAREHOLDERS

Dear Shareholders,

We hereby announce that the 73rd Ordinary General Meeting of Shareholders of Japan Airlines Co., Ltd. (the "Company") will be held on Tuesday, June 21, 2022, as described hereunder.

This year, placing first priority on ensuring the safety of our shareholders and in order to prevent the spread of COVID-19, we recommend that shareholders exercise their voting rights by mail or via the Internet instead of attending the General Meeting of Shareholders in person.

If you choose not to attend the meeting, please review the attached Reference Documents for General Meeting of Shareholders, and please exercise your voting rights no later than 6:00 p.m., Monday, June 20, 2022 by either procedure described in "Guide for Exercising Voting Rights" on page 5.

Sincerely yours,

Yuji Akasaka

Representative Director, President

Japan Airlines Co., Ltd.

2-4-11Higashi-Shinagawa,Shinagawa-ku, Tokyo

MEETING DETAILS

1. Date and Time: 10:00 a.m., Tuesday, June 21, 2022 (The reception starts at 8:30 a.m.)

2. Venue:	2-1-6 Ariake, Koto-ku, Tokyo
	TOKYO GARDEN THEATER
3. Agenda:
Items to be reported:	1. Business Report and Consolidated Financial Statements, Audit Reports of the
	Accounting Auditors and Board of Corporate Auditors regarding the
	Consolidated Financial Statements for the 73rd Fiscal Year (April 1, 2021 to
	March 31, 2022)
	2. Non-consolidated Financial Statements for the 73rd Fiscal Year (April 1, 2021 to
	March 31, 2022)
Items to be proposed:
Proposal 1:	Partial Amendment to the Articles of Incorporation
Proposal 2:	Election of Nine (9) Directors
Proposal 3:	Election of One (1) Audit & Supervisory Board Member

4. Predetermined Terms of the Convocation

• If you exercise your voting rights via the Internet or by mail more than once, your final vote shall prevail.
• If you exercise your voting rights both by mail and via the Internet, your vote via the Internet shall prevail regardless of the arrival date and time.

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• If you exercise your voting rights by a proxy, in accordance with the provision of Article 29 of the Articles of Incorporation of the Company, said proxy must be another shareholder of the Company who also owns voting rights. A written power of attorney must be submitted together with the enclosed Voting Form at the reception desk on the day of the General Meeting of Shareholders.
• There are no souvenirs available for shareholders attending the General Meeting of Shareholders. It is prohibited to bring any dangerous items, canned drinks, or PET bottles etc. into the meeting place. We would appreciate your understanding.
• Proceedings on the day of the General Meeting of Shareholders will be carried out in Japanese. The Company will not be providing interpreters, however, in the event that a shareholder is accompanied by their own interpreter (including sign-language interpreters), if the shareholder informs the reception desk on the day of the General Meeting of Shareholders, it will be possible for the interpreter to enter the meeting place.
• In order to save resources, please bring this "Notice of Convocation."
• If it becomes necessary to amend any item to be listed in the reference documents for the general meeting of shareholders, business report, consolidated financial statements, and non-consolidated financial statements occurs, we will notify you of the amendment(s) on the Company's website (https://www.jal.com/en/investor/stockholders_meeting/).
• The resolutions adopted at the General Meeting of Shareholders will be posted on the Company's website.

You can view the main contents of the Notice of Convocation via your smartphone or personal computer.

The Company has introduced a service that allows you to browse the main contents of the Notice of Convocation more conveniently using your smartphone, etc.

Please access the website from the URL below or QR code®.

• "QR code" is a registered trademark of DENSO WAVE INCORPORATED.
  https://p.sokai.jp/9201/

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