Term September 2024, 2Q

FinancialResults

AirTrip Corp.
Tokyo Stock Exchange Prime: 6191
2024/5/15"To the Next Stage"- Beginning of the third stage after listing - AirTrip Group will restart -FY24.9 2Q “To the Next Stage" ~Achieved a YoY increase with FY24.9 1Q operating income of 2.02 billion yen!~

Started the third stage after listing from FY24.9, by the implementation of the "AirTrip 2024" growthstrategy, we achieved a significant increase in profit YoY to 2.02 billion yen in operating income for 2Q!
~AirTrip travel business also continued to increase profit YoY~
1st Stage

2nd Stage “ AirTrip Re-Start ”

3rd Stage “ AirTrip To the Next Stage ”(from listing to FY20.9)(From FY23.9 to FY23.9)(From FY24.9)

FY20.9FY21.9FY22.9FY23.9(Full year results)(Full year results)(Full year results)(Full year results)△8.99 bn yen

4.05 bn yen

2.55 bn yen

3.69 bn yen(before deduction ofimpairment losses)(before deduction ofimpairment losses)(after impairment losses)(before deduction ofimpairment losses)

FY24.9（1Qresults）

Impairment
loss
included△16.8
Impairment（減損控除後）

31.5

△3.6

FY23.9（Prior1Q～2QTotal）

From FY24.9, started the 3rd stage " To theNext Stage" after listing. The third stage
started with YOY revenue growth and profit
growth, based on the earnings growth of
the AirTrip travel business anddiversification of the business portfolio
promoted by the second stage "Re-Start"from FY21.9 to FY23.9.

△9.0

Impairment
loss
included

FY24.9（2Qresults）※

Unit: (0.1 billion yen)

FY24.9

（1Q～2QTotalresults）※

2.02 bn yen

FY24.9(earningsforecast)

1.0 bn yen(earnings forecast)loss
included(after impairmentlosses)

Consolidated operating income(after impairment losses)

21.9（after impairmentlosses)

Consolidated operating income(before deduction ofimpairment loss)△7.9(before impairmentlosses)

10.4

20.1
（after impairmentlosses)

15.8

9.8
Full year
results

Full year
results

Full year
results

1Q results

2Q results（FY24.9）（FY24.9）

20.2

Prior 1Q~2Q
1Q～2QTotal
Total（FY24.9）（FY23.9）

10.0
Full Year
Earnings
Forecast（FY24.9）△82.0
Impairmentloss
included△89.9(after impairment losses)※ The above 2Q results are preliminary figures at this time and may differ from actual results.
Copyright © AirTrip Corp. All Rights Reserved.

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FY24.9 2Q "To the Next Stage"~Aim to expand operating income to 5 billion yen and 10 billion yen by launching one business each year ~Aim to achieve the mid- to long-term growth strategy "AirTrip 5000" and expand operating incometo 5 billion yen and 10 billion yen, respectively, by launching one business each year~Strategically strengthen the AirTrip Economic Zone by promoting diversified business development~
Hybrid Technologies Co., Ltd(Listed on December 23, 2021)

AirTrip Corp.
（(Listed on March 31, 2016)

Evolable Asia Co., Ltd
Hybrid Technologies (TSE Growth listing: 4260)provides hybridDX support combining
upstream design capabilities with extensive offshore development capabilities.
Has three IT offshore development bases in Vietnam through the subsidiary EvolableAsia.

IT Offshore
DevelopmentBusinessMedia
BusinessRegional
RevitalizingBusiness

Inbound Platform Corp

AirTrip
Travel Business

Inbound Travel Agency＆Wi-Fi Rental BusinessEconomic Zone

(Listed on August 29, 2023)
Inbound Platform (TSE Growth Listing: 5587) will play a central role inpromoting the development of various services that make the most ofJapan's attractive cultural and tourist resources to meet the diverse needsof foreign visitors and residents in Japan, aiming to create new value in theforeign visitor and resident market.

InvestmentBusiness(AirTrip CVC)

Promote business portfolio building by leveraging the AirTrip Group's assets,
including its strengths in business growth, marketing, system development,
brand, financing, customer base, and management team

CloudBusiness
KANXASHI Corporation※Preparing for listing

BestReserve Co., Ltd.

In the domestic travel domain, we aim to significantly expand earnings through strategic marketing investments
in response to the increase in domestic trave ldemand triggered by nationwide travel support. In the overseas
travel domain, we aim to achieve the fastest business growth in the travel industry by enhancing products andpromoting optimal UI/UX improvement of the website through strengthened cooperation with airlines and major
global hotel suppliers in preparation for the recovery of overseas travel demand due to the relaxation ofwaterfront measures in various countries around the world.

Magmag Inc. (Listed on September 24, 2020)
Aim to become the No.1 creator-first platform
through synergy-generating business growth
between the platformbusiness, including "Magmag! Live" by Magmag(TSE Standard Listing: 4059), and advertisingbusinesses in four web media.

AirTrip Premium Club Corp.

Human Resource
Solution Business

Matching Platform
Business

HealthcareBusiness※Investment targets
focus onCreative Solution &DX Business

PikaPaka Corp. ※Preparing for listingNorthshore Inc.

N’s ENTERPRISEKANXASHI Corporation※Preparing for listing

KANXASHI and N's Enterprise will play a central role indeveloping solutions based on "tourism tech" and "HRtech" to solve social issues such as the lack of
population in rural areas, aiming to increase the numberof people interacting with each other and revitalize thelocal economy.

KANXASHI will play a central role in developing
cloud services to improve operational efficiency inthe lodging industry, aiming for a more convenientworld by consolidating expanded channels andscattered data.

※Preparing for listing

AirTrip AGENT Corp.
※Preparing for listing
AirTrip Agent will become the core of the company,
providing system engineering services, recruitingand employment support services, and aiming tobecome a recruitment agency that connects Japanand the rest of the world.

GROWTH Co.,Ltd.
※Preparing for listing

GROWTH plays a central role, aiming tosolve the shortage of human resources incompanies and to become the best
job-matching platform for freelancers andside-track personnel.

Copyright © AirTrip Corp. All Rights Reserved.

As an investment business (AirTrip CVC), aimto strategically expand and strengthen theAirTrip economic zone
by actively investing in growth areas
with a high probability of IPO, utilizing ourinvestment knowledge and experience that haverealized the IPOs of 16 companies so far.

Northshore also play a core role,
operating the creator platform"Creshore" and other services, aiming
to DX operations in the advertisingindustry by solving customers' issues
through creativity.

Pikapaka, in which we have invested, will play acore role, developing DX support services for
medical institutions, planning and operation
services for PCR testing centers, andcloud-based corporate travel support services
as a welfare services business, aiming tobecome a content
platform that connects people and society inthe medical/healthcare/welfare domains.

3Summary of M&As carried out in FY24.9

Gathering associates to expand and strengthen the Airtree economic zone.
Five mergers and acquisitions have already been carried out in FY24.9.
~We plan to continue to actively invest in growth andattract allies through mergers and acquisitions.~
Human Resource
Solution Business

AirTrip
Travel Business

Creative Solution &DX Business

Human ResourceSolution Business

Matching Platform BusinessAirtrie Agent Inc.
becomes a wholly
owned subsidiary.

Best Reserve Co Ltd
becomes a subsidiary.

North Shore Inc.
joins the group.

From the investee
United Will Inc.
SES business transfer .

GROWTH Co.,Ltd.
becomes a subsidiary.

※Preparing for listing※Preparing for listing※Preparing for listing

North Shore, a provider ofcreative solutions and DX
services, is join the Group, anda new Creative Solutions & DXbusiness is launched, our tenthbusiness.

Our subsidiary Airtrie AgentInc. takes over the SES
business from its investor
United Will Inc. The businesswill be expanded by recruiting
partner companies andincreasing the workforce
through active recruitment.

Developed ‘JOB DESIGN’, ajob-matching platform specialisingin the marketing domain thatconnects freelance and sideline
personnel with companies.
Launched a new ‘Matching
Platform Business’, the 11th
business of the company.

※Jan 2024.

※Mar 2024.

※Apr 2024.

※Preparing for listing
It provides the most suitablepersonnel with the necessary skills ina wide range of industries andsupports the promotion of projects
not only in the IT industry, but also indiverse companies in the medical,nursing and tourism industries. The
Human Resource Solutions
business, our ninth business, isnewly launched.

※Oct 2023.

Operates the hotel booking website
Best Reserve/Yado Plaza, which has
a total of approximately 1.8 million
members. There are approximately
7,200 facilities with sales contracts
with hotels and inns nationwide(including joint contracts with Nippon
Travel Agency), and the domestic
hotel domain is being strengthened.

※Dec 2023.

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FY24.9 2Q "To the Next Stage" - Executive Summary -●FY24.9 2Q consolidated business results: transaction volume 55 billion yen, net sales 12.4 billion yen, operating income 2 billion yen
From this fiscal year, we positioned this as the start of the third stage after listing, and under the medium- to long-term growth strategy “Airtrip5000” and the FY24.9 growth strategy “AirTrip 2024”, we achieved a significant increase in revenue and profit from the previous fiscal year
by building up business earnings in each business portfolio, and the third stage got off to a good start. AirTrip is now moving “To theNext Stage.”●The AirTrip Travel Business continues to capture domestic travel demand and drive the company’s overall business portfolio as a pillar ofearnings, continuing the strong performance of the previous fiscal year by gaining recognition during the "advertising investment phase" up toFY19.9 and continuing strategic marketing investment in line with increases and decreases in travel demand, as well as by improving conveniencethrough UI/UX improvements and the results of various promotions.
Existing business areas other than travel business [IT offshore development business, travel to Japan and Wi-Fi rental business, media business,investment business (AirTrip CVC), regional revitalizing business, and cloud business] are generally performing well, and we will promote further
business portfolio building to strategically build and strengthen the "AirTrip Economic Zone".

●In particular, in the investment business (AirTrip CVC), our portfolio company, Cocolive Inc. (Securities code: 137A) are listed on the TSE
Growth Market during 2Q, making this the 17th IPO for our portfolio companies.
We achieved the third IPO following two of our portfolio companies, Japan M&A Solution Corporation (Securities code: 9236) and Value
Creation Corporation (Securities code: 9238), and accumulated investment business profit steadily.

●Under the FY24.9 growth strategy "AirTrip 2024", aggressively invest in order to achieve "AirTrip 5000" as early as possible
Following making Best Reserve a subsidiary, making AirTrip Agent a wholly owned subsidiary as well as starting of a new humanresource solutions business, and making North Shore a group company as well as starting of Creative Solution & DX Service businessduring 1Q, also, we made Growth a subsidiary and started 11th business, “Matching Platform Business”.

●Publication of the “AirTrip Group's Promise”, a basic policy to be followed by the AirTrip Group, to promote work style reform and strengthen
compliance.

●Going forward, the AirTrip Group will promote the strategic construction of its business portfolio by launching at least one new business eachyear, achieve the medium- to long-term growth strategy “AirTrip 5000” and expand operating income to 5 billion yen and 10 billion yen,
thereby aiming for endless growth.
Copyright © AirTrip Corp. All Rights Reserved.

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