ANA : Notice of Revision of Consolidated Financial Results Forecast

April 20 2020

Company Name: ANA HOLDINGS INC.

President and CEO: Shinya Katanozaka

(Code number: 9202, TSE 1st section)

Contact: Director, General Administration, Motoaki Ueno

(TEL: [phone])

Notice of Revision of Consolidated Financial Results Forecast

ANA HOLDINGS INC. has revised its whole financial year performance forecast for the current fiscal year (April 1, 2019 - March 31, 2020), previously announced on October 29, 2019.

Details are as follows.

1. Revision of Consolidated Financial Results Forecast for FY2019 (April 1, 2019 - March 31, 2020)

						Net Income
		Operating	Operating		Ordinary	attributable to		Net income
		Revenues	Income		Income	owners of the		per share
						parent
Previous Forecast (A)	Billion yen	Billion yen	Billion yen	Billion yen	Yen
2,090.0	140.0		137.0	94.0	280.93
New forecast (B)	1,970.0	60.0		58.0	27.0	80.70
Change (B - A)	(120.0)	(80.0)	(79.0)	(67.0)	(200.23)
% Change	(5.7)	(57.1)	(57.7)	(71.3)	(71.3)
	Ref. FY2018	2,058.3	165.0		156.6	110.7		331.04
	(Apr 1, 2018 - Mar 31, 2019)

2. Reasons for Revision

As a result of entry restrictions in various countries and reduced domestic travel in Japan due to the spread of the Coronavirus(COVID-19) during the fourth quarter, especially the travel demand declined sharply in March, the operating revenues, operating income, ordinary income and net income attributable to owners of the parent are expected to be significantly lower than those in the previously revised forecast. The forecasts for the fiscal year ending March 2020 have

therefore been revised as above.

The above forecasts are based on the information available as of the date of this release. Actual results may differ from these estimates depending on a variety of factors.

End of document

- 2 -