Financial Strategy

• CSIF has revised its cash management policy to strategically use the funds on hand in accordance with the market and business situation instead of allocating mainly to distributions in excess of earnings (refund of investments).

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• CSIF has revised its policy on distributions in excess of earnings (refund of investments)
• In order to achieve continuing sustained growth, CSIF will focus on distributions based on Funds from Operations, aiming to maximize unitholders’ value through increasing net income.

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(Note):The chart above is presented solely to facilitate a general understanding of the mechanism for cash distributions, and does not represent the ratio of CSIF's rental revenues or cash distributions in excess of earnings. CSIF may decide not to make any amount of cash distributions in excess of earnings or reduce the planned amount for a particular fiscal period, based on a consideration of factors such as economic or renewable energy market conditions or financial conditions, among other factors, after taking into account of our financial situation and alternative uses of cash, such as the execution of repair plans and capital expenditures, the dept repayment and property acquisition opportunities. CSIF may, in place of making cash distributions in excess of earnings, decide to acquire its own investment units.

• Based on the new cash management policy, CSIF will select repurchase of investment units and acquisition of new asset out of five alternatives taking into account of the current business environment and investment unit prices.

CSIF believes increasing EPU through repurchase will increase unitholders’ value in the mid-to long term.

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CSIF is the only TSE-listed infrastructure fund rated by both of JCR and R&I as of June 30, 2024.

• JCR A (Stable) (As of August 17, 2023)
• R&I A- (Positive) (As of August 4, 2023)