Notice of the 34th Ordinary General Meeting of Shareholders(Translation:PDF 188KB)

(Translation)

NOTICE OF THE 34TH ORDINARY GENERAL MEETING OF SHAREHOLDERS

To Our Shareholders:

We should like to extend our heartfelt gratitude for your continued understanding of business operations of JR-West Group (the "Group").

The Group very seriously takes its responsibility for the train accident on the Fukuchiyama Line we caused on April 25, 2005, and placing the safety of railway operations, its core business, as the highest priority issue, has continued to steadily implement various measures listed in the "JR-West Group Medium-Term Management Plan 2022" (the "Medium- Term Management Plan 2022") and its core component, the "JR-West Group Railway Safety Think-and-Act Plan 2022."

Furthermore, the Group has implemented various measures to "increase regional value," "increase railway belt value" and "increase business value" listed in the Medium-Term Management Plan 2022 as a social infrastructure business group.

In the meantime, the business environment surrounding the Group unprecedentedly remains extremely severe, and the outlook for recovery is uncertain due to a significant decrease in the customers' usage caused by the spread of the novel coronavirus disease (COVID-19). Under such environment, with its four fundamental policies; "fulfilling our mission as a social infrastructure company," "protecting the safety of customers and employees," "sustaining the employment" and "sustaining the supply chain," the Group will continue to fulfill its mission in all of its businesses, while preventing infections among customers and employees and making every effort to ensure safety, and will also make efforts to provide services that adapt to the new needs of customers as society changes.

In order to realize "a safe and comfortable society filled with meetings among people and smiles," which is our vision for the future, we have revised our "Medium-Term Management Plan 2022" to promote corporate reforms aimed at strengthening management, at structural reforms, and at enhancing our ability to address change, while focusing on improving railway safety and coexisting with local communities. We will continue to pursue these initiatives, while closely monitoring the status of COVID-19 infections and the still uncertain recovery of passenger use, and revise the plan flexibly in an effort to reform and reconstruct the Group and increase its corporate value on a medium- to long-term basis.

Moreover, in April 2021, regarding the global environment, which is one of the Group's SDGs-focused fields, the Group has established targets for the fiscal year ending March 31, 2031, and disclosed information based on the TCFD recommendations, while setting our intention to achieve "net zero" CO2 emissions by 2050. We will continue our initiatives under the belief that it is important to preserve and leverage the region's abundant nature and culture, and to contribute to sustainable development of the regional society center on public transportation organization.

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With regard to shareholder return, although we recorded loss due to the impact of COVID-19, in light of this policy to emphasize stable dividends over the long-term, we plan to pay a year-end dividend of ¥50 per share and an annual dividend of ¥100 per share, which is in line with our previously announced dividend forecast.

We cordially request our shareholders to understand the situation of the Group and afford continued support.

June 2021

Kazuaki Hasegawa

President and Representative Director

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Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

(Securities Code: 9021)

June 1, 2021

To the Shareholders:

NOTICE OF THE 34TH ORDINARY GENERAL MEETING

OF SHAREHOLDERS

Dear Shareholders:

Notice is hereby given that the 34th Ordinary General Meeting of Shareholders of the Company will be held as described below.

Since voting rights can be exercised in writing or via the Internet or other methods instead of attending the meeting in person, please review the accompanying "Reference Document for the General Meeting of Shareholders" and exercise your voting rights by June 22 (Tuesday), 2021.

Yours very truly,

Kazuaki Hasegawa

President and Representative Director

West Japan Railway Company

4-24, Shibata 2-chome,

Kita-ku, Osaka, Japan

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Description

1. Date and hour of the meeting:

June 23 (Wednesday), 2021, at 10:00 a.m. (Reception is scheduled to start at 9:00 a.m.)

2. Place of the meeting:

RIHGA Royal Hotel

3-68, Nakanoshima 5-chome,Kita-ku, Osaka, Japan

3. Matters forming the objects of the meeting: Matters to be reported:

1. Report on the business report, the consolidated financial statements and the financial statements for the 34th fiscal year (from April 1, 2020 to March 31, 2021)
2. Report on the results of audit of the consolidated financial statements for the 34th fiscal year by the account auditors and the Audit & Supervisory Board

Matters to be resolved:

Proposition No. 1: Appropriation of retained earnings

Proposition No. 2: Election of 13 Directors

4. Other matters determined upon convening the General Meeting of Shareholders:

1. Your voting rights can be exercised by proxy, who must be a shareholder (being one person) of the Company entitled to vote at this General Meeting of Shareholders.
2. If voting rights are exercised both in writing and via the Internet or other methods, the voting rights exercised via the Internet or other methods shall be treated as effective.
3. If voting rights are exercised more than once via the Internet or other methods, only the last vote shall be treated as effective.

END

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Information on the matters to be posted on our Internet website

1. The systems required to secure the properness of business activities and the summary of the status of operation thereof, the consolidated statement of changes in net assets, the notes to consolidated financial statements, the statement of changes in net assets and the notes to non-consolidated financial statements are posted on our Internet website (https://www.westjr.co.jp/company/ir/stock/meeting/) (in Japanese only) as provided for in laws and regulations and the Articles of Incorporation of the Company.
2. In the event of the revision of any matter in the Reference Document for the General Meeting of Shareholders, the business report, the consolidated financial statements and the financial statements, it will be posted on our Internet website (https://www.westjr.co.jp/company/ir/stock/meeting/) (in Japanese only).

Measures to prevent the spread of the novel coronavirus infection disease

To prevent the spread of COVID-19, we cordially seek your understanding and cooperation as follows:

1. We should like to strongly recommend our shareholders to exercise their voting rights in advance in writing and via the Internet and to refrain from visiting the venue on the day of the meeting.
2. The seats in the hall will be arranged at a certain distance and accordingly, if a large number of shareholders visit the place of the meeting, some of the shareholders may be declined to enter the hall. Further, if you appeared to be in bad condition, you may be called out by organizing staff and may be declined to enter the hall.
3. The proceedings of the meeting will be carried out by substantially shortening the amount of time in comparison with the preceding years to prevent the hall from being closed and crowded for a long period of time.

• Specifically, we should like to advise our shareholders, who are elderly adults, pregnant or have pre-existing disease, to make careful judgments.
• Any shareholder attending the meeting in person is kindly requested to give consideration to the prevention of the infection by wearing a mask or otherwise, upon adequately considering your physical condition up to the date of the meeting.
• Please be advised in advance that at the place of the meeting, we will take measures necessary to prevent infection, including checking your temperature by using thermography, preparing alcohol disinfectant, making the organizing staff wear masks and not offering light refreshments.
• In the event that the abovementioned measures are revised according to any change in the situations in the future, notice will be given on our Internet website.*

• Internet website of the Company (in Japanese only):https://www.westjr.co.jp/company/ir/stock/meeting/
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