【NEWS RELEASE】
May 16, 2019
SMBC Nikko Securities Inc.
SMBC Nikko Leads First Social Bond Offering by ANA HOLDINGSTOKYO, May 16 2019 --- ANA HOLDINGS (“ANA HD”) announced the launch of a JPY 5 billion
social bond※1, the first social bond to be issued by an airline globally, and also a first for a
non-financial company in Japan. SMBC Nikko Securities Inc. (“SMBC Nikko”) acted as therepresentative of the bookrunners and a sole social bond structuring agent※2.
In order to achieve sustainable growth and value creation, ANA Group identified environment,
human rights, diversity & Inclusion and regional revitalization as its four main pillars in its “FY
2018-2022 ANA Group Mid-term Corporate Strategy” formulated in February 2018. The goal of thisstrategy is to enhance ANA Group by creating both social and economic value. With the increased
importance of environmental, social and governance-related initiatives, ANA HD is actively finding
ways to contribute to the achievement of the United Nation’s Sustainable Development Goals(SDGs).
Funds raised through the social bond will be used to simplify air travel while increasing
accessibility and sustainability. This includes efforts to update ANA’s website to meet global W3C
accessibility guidelines as well as improvements to domestic airports. Airports will be upgraded toboost efficiency and improve accessibility for passengers with disabilities as part of the company’sefforts for SDG11 (Make cities and human settlements inclusive, safe, resilient and sustainable).
The proceeds of the social bonds will be also used for similar changes which will be made to ANA
office areas to help the company contribute to achievement of SDG10 (Reduce inequality within andamong countries).
SMBC Nikko established in September 2018 the SDGs Finance Capital Markets within our
Capital Markets Origination Division and has been actively engaged in accommodating to client’s
financing needs to address environmental and social issues and promote ESG strategies. We
believe that our engagement as structuring agent in this first social bond offering by a non-financial
company in Japan showcases SMBC Nikko’s experience in this area and will promote the furtherdevelopment of ESG investment and SDGs finance market, including social bonds, in Japan.

This material is an English translation of Japanese announcement made on May 16, 2019. Although the company intended to faithfullytranslate the Japanese document into English, the accuracy and correctness of this translation are not guaranteed and thus you areencouraged to refer to the original Japanese document.

Based on our brand slogan, "Share the Future", SMBC Nikko will continue to focus on ourcustomers, provide higher value, and deliver trust.
※1 Social bonds are any type of bond instrument where the proceeds will be exclusively applied to finance or re-financein part or in full new and/or existing eligible social projects. ANA HD has established a social bond framework basedon the "The Social Bond Principles 2018" set by the International Capital Market Association (ICMA) to issue socialbonds. As a third-party evaluation of the bonds, ANA HD has obtained "Social1" evaluation from Japan Credit Rating
Agency, Ltd.(Hereinafter referred to as "JCR"), which is the highest evaluation of "JCR Social Finance Assessment".
※2 A company which supports the issuance of social bonds by providing advice on the formulation of a framework forsocial bonds and the acquisition of third-party evaluations such as second party opinions.

<Outline of the ANA HOLDINGS Social Bond>Name

ANA HOLDINGS Social BondTenor

7 YearsRate

0.270%

Issue amount

5 billion yen

Pricing date

May 16, 2019

Payment date

May 22, 2019

Redemption date

May 22, 2026

JCR Social Finance
Assessment
Acquired credit rating
Representative ofbookrunners
Social Bond
Structuring AgentSocial1 (highest rating)A - (R& I)
A (JCR)
SMBC Nikko Securities Inc.
SMBC Nikko Securities Inc.

###Note: This news release s prepared only for publication purposes and does not constitute an offer or sale ofsecurities in Japan and the relevant jurisdiction including the United States. The securities referred to above havenot been and will not be registered under the United States Securities Act of 1933, as amended (the "SecuritiesAct"). The securities may not be offered or sold in the United States absent registration or an exemption fromregistration requirements under the Securities Act.

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