Infrastructure Investment Portfolio

We have invested in Highreso Kagawa Co.,ltd ("Highreso Kagawa") alongside other investors, marking our initial entry into the rapidly growing data center market. We will continue to explore opportunities in Japan's telecommunications sector.

We acquired the stakes in N6 Concession and N6 Operations, which are PPP project companies jointly operating and maintaining the N6 toll road in Ireland, with Bestinver Infra, a venture capital fund based in Madrid. The road is part of the main east-west route between Dublin and Galway, passing through several high-growth regions of West Ireland.

We have acquired a stake in Aurora Infrastructure through a joint investment with Equitix. Aurora is a Finnish company that provides electricity network solutions where reliability is crucial to customer operations. It currently operates at two industrial sites: Kilpilahti industrial area near Porvoo, where they own the AKO network; and Tornio, where they serve a stainless steel manufacturing facility with their ATO network.

We are delighted to announce our investment in Celtic Roads Group (Waterford) DAC, a PPP project company that operates N25 Waterford Bypass, a toll road in Ireland, with a co-investor, IST3 Investment Foundation, and an asset manager, Real Assets Investment Management (RAIM).

Following the investment in Pentacom, we invested in another optical fiber business with Macquarie and Aberdeen Standard Investments. We will continue to consider expanding investment in the telecom sector.

This is an investment in Infostellar, a satellite information and communication support services provider. Through this project, we aim to acquire investment opportunities around ground stations and gain knowledge in space infrastructure investment.

This is an investment in the steadily growing European telecom sector. We participate in this project in collaboration with Macquarie and Aberdeen Standard Investments. Having taken this first step, we will continue to consider expanding investment in the telecommunications field.

All shares of Electricity North West, a power distribution company in the Manchester and Cumbria regions in the UK, was transferred from JP Morgan Asset Management and First State Investments to Equitix, CNIC, Kansai Electric Power, Mitsubishi UFJ Lease and Daiwa Energy & Infrastructure.

This is an operating lease of aircraft and engines to airlines. As aircraft are a vital infrastructure that support global transportation, we will continue to promote investment in this sector.