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SRE HOLDINGS SRE Holdings Corporation FY2026 Q1 Financial Results Copyright 2026 SRE Holdings Corporation Securities Code : 2980 25 ,
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Copyright 2026 SRE Holdings Corporation FY2026 Q1 Financial Results Summary Financial Results Net sales JPY 8,488 million Operating profit JPY 1,812 million EBITDA JPY 1,996 million Dividend per share JPY 20.0 Attributable to owners of parent Profit JPY 1,113 million Key Points ► N e t s a l e s : Net sales grew in both AI&LS and L&P, up +JPY 4.24 billion (+100.2%) YoY ► Operating profit : In addition to L&P property sales, growth in existing products and progress in AX lifted profit by +JPY 1.72 billion YoY ► E B I T D A : In line with the expansion in operating profit, secured growth of +JPY 1.71 billion YoY ► Profit attributable to o w n e r s of p a r e n t : Reversing the loss in the same period last year, returned to profit with a +JPY 1.13 billion increase ► D i v i d e n dp e r s h a r e : Maintained the initial plan of JPY 20.0 and continued the shareholder return policy ► R O E : Through capital-efficiency-focused management, progressing steadily toward the initial plan of approximately 12% ROE Approx. 12% 2 (Same period last year) 4,240 → (+4,248) (Same period last year) 92 → (+1,720) (Same period last year) 281 → (+1,715) (Same period last year) ▲19 → (+1,132) Initial plan
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Copyright 2026 SRE Holdings Corporation Contents FY2026 Financial Forecast P.153 2 FY2026 Q1 Financial Results P.7 Overview of Our Businesses P.26REF 1 Explanation of Segment Changes P.4
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Copyright 2026 SRE Holdings Corporation Section 1 Explanation of Segment Changes — A reorganization that unifies Real and Tech to strengthen the AI business —
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Copyright 2026 SRE Holdings Corporation Organizational Changes to Drive BPaaSExplanation of Segment Changes1 * The organizational changes took effect on April 1, 2026; the change in reportable segments applies from FY2026 Q1. The real estate consulting business and cloud solutions business were integrated, and the reportable segments were also changed (same content as the press release announced on July 23, 2026 https://sre-group.co.jp/news/). Accelerating our evolution into an industry-specific AI platformer aiming for further growth, powered by both AI and BPaaS. Before: Individual coordination After: Integrated operations Development and implementation of industry-specific AI Internal AX/DX Feed back The field (real estate consulting) and tech (cloud) A phase of refining AI through individual coordination Agent & Cloud Solutions Division One Team/One Management BPaaS Delivering AI and operations as one to advance business processes Toward higher profitability through low churn and data accumulation Consolidating AI-streamlined field operations onto the cloud side A phase integrating 'real-world operational capability' into tech 2026.4.1 Integration Cloud Solutions Cloud Solutions Division Real estate Consulting Real Estate Consulting Division Real Tech Tech Real Real estate Consulting Real Tech Cloud Solutions Tech Real 5
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Copyright 2026 SRE Holdings Corporation Full-year forecast before and after the segment changeExplanation of Segment Changes1 6 New segments FY2026 Full year AI＆LS Life & Healthcare Solutions (LH) Net sales 7,100 Segment Profit 2,430 PropTech Solutions (PT) Net sales 13,400 Segment Profit 1,950 Other (New business investment) Segment Profit ▲400 Life & Property Solutions (L&P) Net sales 21,300 Segment Profit 1,500 TOTAL Net sales 41,800 Operating profit 5,230 (JPY million) Former segments FY2026 Full year AICC Life & Healthcare Solutions (LH) Net sales 7,100 Segment Profit 2,430 PropTech Solutions (PT) Net sales 3,900 Segment Profit 1,950 Life & Property Solutions (L&P) Net sales 30,800 Segment Profit 1,500 Other (New business investment) Segment Profit ▲400 TOTAL Net sales 41,800 Operating profit 5,230 Through strategic execution driven by the integration, AI&LS becomes an even greater growth driver for the Company. * Consolidated eliminations are not shown (▲250). * AICC has been renamed AI&LS to reflect its expanded business scope. * Former Other (New Business Investments) has been integrated into AI&LS. * Reclassification affects net sales only for PT and L&P, with immaterial impact on profit (see P.17).
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Copyright 2026 SRE Holdings Corporation Section 2 FY2026 Q1 Results (presented under the new segments)
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Copyright 2026 SRE Holdings Corporation Results SummaryFY2026 Q1 Financial Results2 8 (JPY million) FY2025 Q1 FY2026 Q1 YoY % change Net sales 4,240 8,488 +100.2% Operating profit 92 1,812 +1,869.6% EBITDA 281 1,996 +610.3% Ordinary profit 31 1,681 +5,322.6% Profit 10 1,131 +11,210.0% Profit attributable to owners of parent ▲19 1,113 - • Top line: The existing businesses of PT and LH (AI Home Valuation, existing healthcare services, etc.) all progressed steadily, and together with L&P property sales, companywide net sales rose +100.2% YoY. • Revenue and costs: In addition to higher sales in existing businesses, progress in companywide AX helped efficiently curb personnel and other costs versus the initial plan, improving profitability. Operating profit rose sharply from JPY 92 million a year earlier to JPY 1,812 million. • Qualitative points: Companywide AX improved productivity, advancing the shift to an earnings structure that can grow while curbing headcount increases (see P.12, 13, 14). In addition, by leveling out the timing of property sales, the second-half weighting is expected to improve. • We will continue to build a circular ecosystem linking L&P and AI&LS (see P.20) through data obtained from development real estate and AI implementation, aiming for further growth. Progress in the existing PT and LH businesses and L&P's earnings contribution drove a sharp profit increase and a return to profit, while AX builds a foundation for mid- to long- term growth.
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Copyright 2026 SRE Holdings Corporation Segment Performance OverviewFY2026 Q1 Financial Results2 9* Both net sales and profit are figures before elimination of intra-group and inter-segment transactions. * Other within AI&LS is not shown. * The total (TOTAL) is stated after consolidated eliminations. * Inter-segment elimination differences are not shown (the difference of 192 in net sales and 60 in operating profit is due to consolidated eliminations). In addition to higher sales and profit from L&P property sales, both AI&LS businesses achieved net sales growth of over 40% and a sharp increase in profit. (JPY million) FY2025 Q1 FY2026 Q1 YoY % change AI＆LS Life & Healthcare Solutions (LH) Net sales 1,059 1,487 +40.4% Segment Profit 278 373 +34.2% PropTech Solutions (PT) Net sales 1,556 2,215 +42.4% Segment Profit 144 325 +125.7% Life & Property Solutions (L&P) Net sales 1,855 4,978 +168.3% Segment Profit ▲279 1,174 - TOTAL Net sales 4,240 8,488 +100.2% Operating profit 92 1,812 +1,869.6% PropTech Solutions (PT) Life & Healthcare Solutions (LH) • New customer acquisition in the healthcare domain and productivity gains from AI implementation drove growth across the overall business, lifting net sales +40.4% and segment profit +34.2%. • Flagship products such as AI Home Valuation CLOUD performed solidly, lifting net sales +42.4% and segment profit +125.7%. Through the organizational integration, we will refine BPaaS around data that others cannot obtain, driving further growth. Life & Property Solutions (L&P) • Progress in property sales and productivity gains from AI implementation delivered a substantial return to profit. • Progressing steadily toward achieving the full-year budget.
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Copyright 2026 SRE Holdings Corporation 2,221 2,249 2,289 2,426 2,480 1Q 2Q 3Q 4Q 1Q FY25 FY26 AI&LS Segment KPI TrendsFY2026 Q1 Financial Results2 10 Life & Healthcare Solutions (LH) PropTech Solutions (PT) Contracts grew steadily in both LH and PT, steadily broadening the base for BPaaS expansion. Contracts progressed steadily, and ARPU rose +24% YoY. • Contracts: New business development in the existing healthcare business progressed steadily, up +54 QoQ. • ARPU: Although ARPU declined slightly quarter on quarter due to the mix of newly acquired deals, further deal acquisition is in sight from Q2 onward, keeping us on track against the full-year outlook. Contracts grew significantly, led by AI Home Valuation. • Contracts: In addition to the impact of the segment change, steady progress in contracts for AI Home Valuation and others drove an increase of 257 QoQ. • ARPU: With the addition of the real estate consulting business accompanying the segment change, ARPU rose. • The impact of the segment change is +100–200 contracts and approximately +JPY 10 thousand in ARPU. * FY2026 reflects the impact of the segment change. * For recurring income, the number of contracts at period-end is shown; for transactional income, the total number of contracts during the period is shown. ARPU (JPY thousand/month) Contracts (PT) ARPU (JPY thousand/month) Contracts (LH) 53 58 62 62 72 4,795 4,950 5,100 5,279 5,536 1Q 2Q 3Q 4Q 1Q FY25 FY26 127 133 155 162 158
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Copyright 2026 SRE Holdings Corporation (Reference) Detailed Explanation of FY2026 Q1 ResultsFY2026 Q1 Financial Results2 Category Outlook against this year's guideline (GL) YoY Operating profit Overall Against a full-year GL of JPY 5,230 million (+25.1% YoY), progress reached 34.6%, tracking well. AI&LS combined progress was 16.1%, while L&P was front-loaded at 78.3% as property sales came earlier in the first half. High-margin growth in AI&LS, productivity gains from AX (AI implementation), and stable earnings in L&P advanced simultaneously, sharply improving Q1 profitability from last year's low level. JPY 1,812 million (JPY 92 million a year earlier, +1,869.6% / +JPY 1,720 million). All three segments improved together, establishing a sharp profit increase and a profitable trend. AI＆LS LH [Healthcare growth engine] Against a full-year GL of JPY 2,430 million (+72.2% YoY), progress reached 15.3%. Higher contracts and a rise in ARPU (+24.4% YoY) grew both sales and profit. New deal acquisition is also in sight, and we continue to aim to achieve the GL. JPY 373 million (JPY 278 million a year earlier, +34.2%). Higher contracts and a rising share of high-ARPU contracts lifted profit. PT [High-margin real estate tech SaaS + business integration] Against a full-year GL of JPY 1,950 million (+123.6% YoY), progress reached 16.7%. Growth in contracts for the flagship AI Home Valuation CLOUD led the way. The integration effects—BPaaS transformation and AX-driven efficiency—are planned to contribute in earnest in the second half. JPY 325 million (JPY 144 million a year earlier, +125.7%). Higher contracts and price revisions for AI Home Valuation CLOUD were joined by earnings contributions from the integrated real estate consulting business. Ｌ＆Ｐ [Stable base for dividend funding] Against a full-year GL of JPY 1,500 million (▲24.6% YoY), progress reached 78.3%. Sales of high-quality properties sourced through proprietary channels came earlier in the first half, generating stable earnings. The planned profit decline reflects the reaction to last year's upside from a specific property, among other factors. JPY 1,174 million (▲JPY 279 million a year earlier; return to profit / +JPY 1,453 million). Progress was also made in leveling out the timing of property sales, a previous challenge. Number of contracts LH Against a full-year GL (at year-end) of 2,996 contracts, Q1-end stood at 2,480. Steady organic accumulation not reliant on large deals (+54 QoQ), with new deal acquisition in sight from Q2 onward, makes the full-year outlook well within reach. +11.7% (2,221 → 2,480 contracts YoY). Led by new business development in existing healthcare. PT Against a full-year GL (at year-end) of 5,671 contracts (+392 vs. prior year-end), Q1-end stood at 5,536 (+257 QoQ, of which +100–200 from the segment change). Excluding the segment change, progress remains solid. +15.5% (4,795 → 5,536 contracts YoY). Led by AI Home Valuation CLOUD. Includes +100–200 from the segment change. ARPU LH Against a full-year GL of JPY 185 thousand/month (Q4 average at year-end), Q1 was JPY 158 thousand/month (including MEDIX). Although ARPU declined slightly quarter on quarter due to the mix of acquired deals, new deal acquisition is in sight from Q2 onward, making the full-year outlook well within reach. +24.4% (JPY 127 → 158 thousand/month YoY). A rising share of high-ARPU contracts. PT Q1 actual of JPY 72 thousand/month (of which approximately JPY 10 thousand from the segment change/reclassification; JPY 62 thousand/month on a like-for-like basis). Although the full-year GL of JPY 71 thousand/month has already been achieved, the segment-change effect is significant, so we aim for further improvement. +35.8% (JPY 53 → 72 thousand/month YoY). In addition to the effect of the previous fiscal year's price increase, approximately JPY 10 thousand is from the reclassification. 11
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Copyright 2026 SRE Holdings Corporation Growth Strategy: Promoting AXFY2026 Q1 Financial Results2 12 Implementing generative AI companywide and promoting AX under CEO leadership, delivering results across three areas: top-line growth, BPaaS development, and cost efficiency. ① Top-line growth: Validated results of AX-driven top-line growth ③ Boosting the bottom line through cost efficiency: reflected in the medium-term business plan Companywide AI implementation and CEO commitment Committed to promoting AX under CEO leadership ⚫ The CEO drives it hands-on each organizational head also takes the lead in promoting AX ⚫ Headquarters directs each business unit on the expected impact of AI tools, driving productivity gains through frontline AI adoption. Completed companywide AI implementation ② BPaaS: Internal AX also enabled BPaaS service development ⚫ Adopted seven types* of generative AI tools ⚫ Completed building a structure to promote AX (AI implementation) across the entire company ⚫ Since our founding business, we have used technology to develop products and services within our own real-world operations, and we have likewise conducted various validations of AX. ⚫ As a result, we achieved an approximately 20% increase in the top line during the validation period (assuming other parameters held constant). ⚫ Based on real estate–specific training data, we achieved results in developing highly efficient AI agents and automating operations. ⚫ We aim to roll this out as one of the service offerings in our future BPaaS lineup. ⚫ Productivity gains in middle-office, back-office, and development operations are being reflected in the medium-term plan. ⚫ In the division where the effect was greatest, we expect to cut hiring and personnel costs by 20% versus the previous plan. * Adopted Claude, ChatGPT, Gemini, Genspark, Notion, NotebookLM, and Copilot.
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Copyright 2026 SRE Holdings Corporation Growth Strategy: Validation Progress of AI Agents (AI Sales Productivity Platform) FY2026 Q1 Financial Results2 13 Validation of the real estate AI agent confirmed +20% sales and +30% operating profit; expanding into BPaaS. * Inquiries = customer inquiries; Visits = appraisals and meetings; Brokerage = brokerage agreements. * Visit-to-brokerage rate = Brokerage ÷ Visits. * '~1.2×' vs. Apr. 2026. * Results are compared with the initial plan. Impact on current-period results is minimal, as reflected in the full-year forecast. 'Real-world know-how' → 'convert to AI and implement internally (productivity gains)’ → 'external sales' is our winning formula. Real Estate AI Agent Standardizing sales activities Learning tacit knowledge and internal materials to standardize pre-meeting issue framing and talk-track design 1 Learning from deal evaluations Automatically generating evaluations and improvement instructions from recordings based on proprietary criteria 2 Talent development portal Centrally managing logs and analyzing the correlation between usage and sales performance (productivity) 3 Validation Result ① Results Sales funnel Frontline productivity improved, increasing both sales and operating profit. Sales +20% Directly linked to improved frontline productivity AI agent Personnel costs ▲10% Inquiries Visits Brokerage Closing Approx. 1.2× Operating profit +30% The visit-to-brokerage rate improved approximately 1.2×, ultimately increasing the number of contracts. Validation Result ② Through higher productivity per employee Curbing additional hiring
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Copyright 2026 SRE Holdings Corporation Growth Strategy: Updating Real Estate Business Workflows with Generative AI FY2026 Q1 Financial Results2 Fundamentally improving middle-office operations through AX/DX, curbing personnel and hiring costs via productivity gains and operational efficiency. * Labor-reduction rates and case counts are internally measured and have not been verified by a third party (based on cases shared during the ~2-month trial period). * Results are based on the required middle-office headcount in the target department. 14 AX/DX Initiative Examples Case 1: Transformation into an AI-collaborative organization Case 2: Automated drafting and revision of contracts General Manager AI Deputy General Manager Introduced an AI Deputy General Manager and AI agents as partners to the General Manager. AI takes over the work of four people—such as creating materials, drafting manuals, and checking documents—building a workflow in which a single General Manager can handle the work of five. Sales contract AI agent An AI agent trained on past contract know-how automates the drafting of contracts for each property and the revision of counterparties' drafts, halving the related work. It is planned to be incorporated as one of the BPaaS services offered. Past contracts Contract Instructions and review AI agent 5× productivityEffect 50% operational efficiency gain Effect
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Copyright 2026 SRE Holdings Corporation Section 3 FY2026 Financial Forecast (Reprinted from the financial results materials announced on May 13, 2026 with partial changes to the new segment presentation)
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Copyright 2026 SRE Holdings Corporation Summary of Financial ForecastFY2026 Financial Forecast3 16 Dividend 20.0 yen per share (forecast) (JPY million) FY2025 FY2026 (Forecast) YoY Net sales 32,858 41,800 +27.2% Operating profit 4,180 5,230 +25.1% EBITDA 4,964 6,150 +23.9% Ordinary profit 3,841 4,500 +17.2% Profit attributable to owners of parent 1,840 2,830 +53.8% Despite executing 0.4 billion yen in strategic reinvestment, we expect to achieve record highs across all profit levels, driven by growth in our core business. • Net sales- Strong growth driven by industry-specific AI in AI&LS, combined with stable growth in L&P, is expected to deliver solid top-line growth of +27.2% YoY. • Operating profit- Even after strategic reinvestment for next-generation AI operations, operating profit is forecast to exceed 5.2 billion yen, marking the establishment of a sustainable high-profit phase- Underlying operating profit growth was +38%, excluding strategic investments and buffers • Profit attributable to owners of parent / Dividend - Excluding prior-year one-off restructuring losses, net profit is expected to reach 2.83 billion yen in FY2026, supported by strong underlying earnings.
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Copyright 2026 SRE Holdings Corporation Performance Guidance by New SegmentFY2026 Financial Forecast3 Growth in AI&LS's existing businesses and accelerated AI utilization are expected to drive +25% growth in companywide operating profit. * The FY2026 forecast for the AI & Life Solutions segment does not include figures from future M&A in net sales/segment profit * Before elimination of intra-group and inter-segment transactions. Note that the performance breakdown is unaudited. * Other (New Business Investment) within AI&LS is not shown. * The total amount is stated after consolidated eliminations. * FY2025 figures are reference values restated under the new segment classification 17 (JPY million) FY2025 Full year FY2026 Full year YoY % change AI＆LS Life & Healthcare Solutions (LH) Net sales 5,173 7,100 +37.3% Segment Profit 1,411 2,430 +72.2% PropTech Solutions (PT) Net sales 8,572 13,400 +56.3% Segment Profit 872 1,950 +123.6% Life & Property Solutions (L&P) Net sales 20,100 21,300 +6.0% Segment Profit 1,988 1,500 ▲24.6% TOTAL Net sales 32,858 41,800 +27.2% Operating profit 4,180 5,230 +25.1% PropTech Solutions (PT) Life & Healthcare Solutions (LH) Life & Property Solutions (L&P) • New customer acquisition in the existing healthcare business and productivity gains from AI implementation are expected to drive growth across the overall business, lifting net sales +37.3% and profit +72.2%. • In addition to solid performance of flagship products such as AI Home Valuation CLOUD, AX promotion driven by the business integration and associated productivity gains are expected to lift net sales +56.3% and profit +123.6%—a substantial increase, as with LH. • The outlook is for a profit decline, reflecting the reaction to last year's profit upside from a specific property, among other factors. Inventory levels are being controlled to a similar level at Q1-end as at the previous fiscal year-end.
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Copyright 2026 SRE Holdings Corporation KPI Guidance for AICC SegmentFY2026 Financial Forecast3 18 Rising ARPU and an expanding customer base increase the certainty of recurring revenue growth. 2,426 2,996 FY2025 FY2026 5,279 5,671 FY2025 FY2026 Life ＆ Healthcare Solutions (LH) １62,000 １85,000 ６2,000 71,000 Prop Tech Solutions (PT) +23,000 +57０ +9,000 +392 Prop Tech Solutions (PT) Life ＆ Healthcare Solutions (LH) Sustained ARPU Growth Through Value-Added Services • Average pricing rises step by step, driven by an increase in large-scale contracts with client organizations Steady Expansion of the Customer Base • Expanded service delivery and a growing track record support steady client growth. Higher unit pricing driven by BPaaS offerings • Deeper integration of real-world operations and technology following organizational restructuring is driving higher service value and pricing. Customer Base Expansion Accompanied by Market Share Gains • We expect a disciplined increase of 392 client companies, prioritizing cost efficiency amid rapid generative AI adoption. *1 No-fee contracts during the initial campaign period are excluded from the number of contracts at the end of the month. *2 ARPU is calculated by dividing the average monthly recurring revenue of Q4 (January–March) by the average number of contracts during the same quarter. *3 The KPIs for LH include figures that incorporate Medix Contracts*2,3 (as of year- end) ARPU*1 (Q4 basis) Contracts*2,3 (as of year- end) ARPU *1 (Q4 basis)
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Copyright 2026 SRE Holdings Corporation (Reference) Expected Sale Timing of Key Development ProjectsFY2026 Financial Forecast3 Development Projects FY26 FY27 FY28 １H ２H １H ２H １H ２H Umeda Project Meidaimae Project Takaido Project Fuchu Project Maizuru Project Fukuzumi Project Komagome Project Haruyoshi Project Nagoya Station Project Kameido Project Shibuya Honmachi Project * As these are current projections, the schedule is subject to change. 19
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Copyright 2026 SRE Holdings Corporation AI & Life Solutions (AI＆LS) Life & Healthcare (ＬＨ) PropTech (ＰＴ) Life & Property Solutions (Ｌ＆Ｐ) Real Estate Development Development FY2026 Financial Forecast3 20 A defensible ecosystem in which proprietary primary data from real-world operations continuously enhances AI, driving a highly profitable BPaaS business Data acquisition AI Development Field Implementation Data Accumulation AI Enhancement Industry- specific AI Sony Life Insurance Sony Group Sony Music EntertainmentSony Group Alliance Collaboration Planning and Proposal Primary data External sales Data feedback loop Joint development and solution delivery Growth Strategy: A Platform Company Circulating Value Centered on Industry-Specific AI Revenue-generating real-world business and AI validation field High-margin BPaaS & consulting sales Proprietary data build-up / algorithm improvement
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Copyright 2026 SRE Holdings Corporation Growth Strategy: Efficient Property Development through Strategic Alliances FY2026 Financial Forecast3 21 Differentiated property value through Sony Group alliances and in-house networks Sony Life Insurance ◆ Life Planners： Over 2,000 ◆ Subscribers: Over 4 Million Senior Residences Sourcing, Development and Operations SRE Holdings Industry-Specific AI Technology Proprietary Network for Real Estate Development and Brokerage Asset-Light ◆ Disposition to Real Estate Funds ◆ Stable Earnings from Management Fees Information Sharing with Life Planners１ Identification and Development of High-Quality Properties ２ Operational Data Analysis & Optimization ４ Disposition to Funds for Recurring Revenue ５ Efficient Customer Matching via Alliance Network ３ Collaboration with Sony Life Insurance is limited to information provision and customer referrals in compliance with applicable laws and regulations. Sony Life Insurance is not the principal in real estate development.
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Copyright 2026 SRE Holdings Corporation Growth Strategy: Medium-term ProfitabilityFY2026 Financial Forecast3 22 Driving mid- to long-term profitability through next-generation AI operations. 4.18 5.78 5.23 Growth Rate 38% Strategic Reinvestment (JPY 0.4 billion) Real Estate Brokerage / L&P (JPY 0.1 billion) BPaaS Transformation of Real Estate Operations • Building a BPaaS service for end-to-end implementation and operation of real estate–specific AI. Healthcare/AI&LS (JPY 0.1 billion) Building AI-Enabled Operations • BPaaS team achieves non-linear scale and high margins using advanced AI agents, without reliance on hospital systems. Physical AI Initiatives (JPY 0.08 billion) Next-Generation Real-World Data Platform • Advancing real-world AI validation beyond software to build a first-party data foundation for the next-generation platform. Top Talent Acquisition (JPY 0.12 billion) Acquisition of CTO and FDE* Talent • Investment in tech talent capable of combining advanced AI models to fundamentally reengineer legacy industry processes (BPR). １ ２ ３ ４ １ ２ ３ ４ Operating Profit Outlook (JPY billions) From building systems to leveraging AI effectively ５ Geopolitical Risk Impact (Buffer) (JPY 0.15 billion) • Potential delays to L&P development projects due to material procurement disruptions from a Strait of Hormuz closure. ５ * FDE（Forward Deployed Engineer）: Engineer responsible for on-site implementation, ensuring AI and systems are fully deployable in customer operations. If investments are delayed or risks do not materialize, operating profit may see short-term upside. Risk Buffer (JPY 0.15 billion)
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Copyright 2026 SRE Holdings Corporation Growth Strategy: BPaaS Architecture and Our StrengthsFY2026 Financial Forecast3 A fully integrated “real-world operations × AI” model that goes beyond simple IT services, enabling a highly defensible BPaaS offering Provided in-houseLayer 1 BPaaS Operations (Technology-enabled business operations outsourcing) Healthcare BPO and real estate processes executed using AI + human resources. In-house developmentLayer 2 AI Cloud (Industry-Specific Tools) Utilized internally and offered externally for real estate AI valuation and healthcare operations management tools. Shared PlatformLayer 3 AI Agents / Automation Engine Embed AI into each step of operations to automate workflows. AI InfrastructureLayer 4 Industry-Specific AI (Core: AI tuning) Fine-tuning Gemini, ChatGPT, and Claude using proprietary data for internal use. External sourcingLayer 5 Cloud Infrastructure Utilizing AWS, Azure, GCP, and other cloud platforms, with no direct investment by the Company, focusing solely on cost management. BPaaS Architecture (Industry Structure) AI / Technology In-house development of AI tools, for internal use and external commercialization SRE’s Strengths Real-world operations Accumulating know-how and expertise through in-house operations Our Domain 23 As ARR is a SaaS metric limited to Layer 2 (AI Cloud), it does not adequately capture the performance of our BPaaS architecture, which encompasses BPO and AI agents. We will discontinue its disclosure from this fiscal year and transition to a KPI framework that more accurately represents our business model.
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Copyright 2026 SRE Holdings Corporation Growth Strategy : M&A, PMI / Value upFY2026 Financial Forecast3 M&A target areas PMI Process for Transferring the Revenue Model 1. Target: Beyond core domains with proven AI × real-world operations, expanding into adjacent and new domains • Precisely selecting target industries based on deep operational insight and primary data 2. Winning Formula： Phased rollout of our proven revenue model • Improving revenue during PMI by implementing our operating model and technology 3. Value Creation： Value creation at acquired companies via revenue model transfer • Bringing acquired companies’ revenue to our level through BPaaSdeployment 24 Core domains (proven expertise) Adjacent / new domains (mid-term entry) Real Estate Healthcare Lifecare IT HR Tech Security Robotics Other M&A Execution Deployment of Management Talent Operational Process Redesign Implementing our model Revenue Structure Improvement Our M&A strategy is characterized by a unique growth engine: post-acquisition, we transplant our proprietary revenue model to transform acquired businesses into highly profitable operations
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Copyright 2026 SRE Holdings Corporation Strengthening Group’s Profitability in Mid-Term3 25 FY2026 Financial Forecast Accelerating growth through a BPaaS shift • Expanding core businesses and creating new value through a BPaaS shift aligned with AI advancement. Strategic investment in AI is essential for future survival and growth • Timely investment in talent, infrastructure, and new business areas is the key priority to secure competitiveness in the BPaaS era and drive mid- to long-term growth. Expanding corporate value through core growth and new initiatives • Expanding new business areas while driving growth in L&P and AI&LS to achieve sustainable profit growth and enhance corporate value. FY21 Results FY22 Results FY23 Results FY24 Results FY25 Results FY26 Guidance FY27 Image FY28 Mid-term view New Business Areas (Robotics / HR Tech, etc.) Profit growth through BPaaS / AI Operations AI&LS LH AI&LS PT L&P Strategic Investment JPY 0.4 billion Medium-Term Profit Growth Outlook
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Copyright 2026 SRE Holdings Corporation Section REF Overview of Our Businesses • (Reprinted from the financial results materials announced on May 13, 2026 • with partial changes to the new segment presentation)
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Copyright 2026 SRE Holdings Corporation Overview of Our BusinessesREF 27 History April 2014 Sony Real Estate established October 2015 Real Estate valuation engine utilizing AI developed Real Estate business utilizing technology(=Real Estate tech company)Step 01 October 2023 Began offering DX solutions for medical and welfarefacilities April 2024 Acquired MEDIX Co., Ltd., to expand healthcare solutions April 2025 Strengthening industry-specific AI and accelerating M&A into new business areas (e.g., Life Care) From 2026 Scaling across the full life stage by vertically integrating industry-specific AI and BPaaS Expansion of our business domain into the healthcare sector to become a Life Tech Company Step 04 October 2018 SRE AI Partners established, starting partnerships with financial institutions June 2019 Name changed to SRE Holdings December 2019 Listed on TSE Mothers market Start of sales of AI SaaS solutions to external customers following improvement of UI/UX in internal "real business" operations Step 02 December 2020 Listing switched to TSE 1st section June 2021 Selected for the DX Grand Prix 2021 / DX Stocks 2021 April 2022 Listing switched to TSE Prime Expansion of AI SaaS incorporating "real business" Step 03 * Number of officers and employees includes seconded and contract/temporary staff (as of Mar 31, 2026). An industry-focused LifeTech company that integrates real-world businesses, delivering an end-to-end AI × Operational Support (BPO & Consulting) model in the real estate, healthcare, and finance domains by leveraging the Sony Group’s expertise. Established/ IPO Established: April 2014 IPO: December 2019 Major Shareholders Sony Group Corporation（23%） Client Base Exceeding 6,000 Companies （Real Estate, Healthcare, and Finance） Staff 533 Outline History of SRE Holdings from its Founding
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Copyright 2026 SRE Holdings Corporation Turning social challenges into growth opportunities 28 REF Overview of Our Businesses Amid population decline and aging, labor shortages and healthcare / inheritance needs continue to expand. Leveraging Real × Technology expertise built in real estate, we extend into healthcare and finance to turn social challenges into growth opportunities. AI × Real to Solve Social Challenges * Calculated by our company based on the population pyramid data from the National Institute of Population and Social Security Research 05001000 0 10 20 30 40 50 60 70 80 90 100- 0 500 1000 Social Challenges Our Solutions (Value Proposition) Growing healthy longevity needs / Healthcare system strain Inheritance, succession, and retirement funding concerns Labor shortages across a wide range of industries DX and operational support for healthcare and nursing care Asset liquidity and succession support through technology Efficiency and automation through AI & BPaaS Population Distribution by Age Group (10,000 persons) Male Female Addressing labor and healthcare challenges through Real × Technology sharp decline in working-age population (labor shortages) Growing elderly population (healthcare & inheritance)
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Copyright 2026 SRE Holdings Corporation Overview of SREHD's BusinessesOverview of Our BusinessesREF 29Source: *1 Prepared by the Company based on the Financial Services Agency's 'List of Licensed/Authorized/Registered Operators (Deposit-Taking Financial Institutions).' *2 Ministry of Land, Infrastructure, Transport and Tourism, 'FY2024 Survey Results on the Enforcement Status of the Building Lots and Buildings Transaction Business Act.' A Life Tech Company Combining Real-World Operations and Technology Across Real Estate and Healthcare Revenue ModelBusiness Overview Solutions Main Target Transactional income (Consulting fee) Recurring income (Recurring contract) Life & Healthcare Solutions (LH) PropTech Solutions (PT) • BPaaS for medical and welfare facilities • Provision of business support systems • Real estate business support cloud (AI Home Valuation CLOUD, MK CLOUD, Rent Valuation CLOUD, etc.) • Brokerage utilizing technology • Medical/Welfare: ~100k • Treatment Clinics (Osteopathy/acupuncture, etc.): ~ 150k • Financial Institutions: ~ 1,080*1 • Real Estate Brokers: ~130k*2 • （toC): Home buyers/sellers AI＆ Life Solution s (AI＆LS) Life & Property Solutions Solutions (L＆P) • Development of healthcare facilities, etc. • Development aimed at expanding fund AUM • Development of AI Solutions for Operational Improvement • （toB）: Institutions / Funds / Operating Companies Transactional income (Sales of development properties) Recurring income (Fund management fees)
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Copyright 2026 SRE Holdings Corporation AI&LS BPaaS ModelOverview of Our BusinessesREF SRE’s BPaaS drives customer growth and stable recurring revenue by reducing on-site burden. ① Structural Challenge Due to chronic labor shortages and a lack of specialized expertise, many facilities find it difficult to independently introduce and operate AI solutions. ② SRE’s Support Our SRE team takes responsibility for these functions, driving operational support and productivity improvements ③ Customer Impact Staff can focus on their core operations, while back-office functions are operated under our leadership through a BPO × SaaS model ④ SRE Advantage Higher operational dependency results in lower churn AI-driven cost optimization improves margins SRE-led execution of back-office support and AI implementation Before After Facing labor shortages and insufficient IT utilization AI SRE customer customer Support Data Implementation image 30
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Copyright 2026 SRE Holdings Corporation AI&LS Product Track RecordOverview of Our BusinessesREF 31*1 Actual values measured in our operations *2 The appraisal error rate is the median deviation between the valuation results by our agents or by AI Home Valuation CLOUD and the actual transaction price for condominiums in the 23 wards of Tokyo (as of December 2024). Leveraging vast primary data accumulated through real-world operations, our AI performs real estate valuations with high accuracy in a fraction of the time. By standardizing previously person-dependent valuation work, we achieve both step-change operational efficiency and improved accuracy. With a low implementation hurdle and strong ROI, adoption is accelerating rapidly—primarily among enterprise clients, from real estate companies to major financial institutions (banks and insurers). Before After 180 5min 5.6% 9～10% More time for sales → higher revenue. Fewer valuation errors, fewer complaints AI automation enables coverage by junior and back-office staff. Selecting and assessing similar case by professionals Advanced AI powered by primary data delivers dramatic time savings and eliminates key-person dependency. Adoption is expanding among financial institutions. Appraisal Error Rate*2 Task Time*1 Task Overview
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Copyright 2026 SRE Holdings Corporation Average monthly churn rateOverview of Our BusinessesREF 32 ⚫ Continuously enhancing added value through our unique data ecosystem ⚫ Leveraging the knowledge and data accumulated through technology implementation and systemization of operations held within the Group to develop solutions Our competitive advantages 0.7% 0.6% 0.5% 0.4% 0.4% 0.3% 0.3% 0.4% 0.4% 0.4% 0.4% 0.5% 0.6% 2023 Jun 2023 Sep 2023 Dec 2024 Mar 2024 Jun 2024 Sep 2024 Dec 2025 Mar 2025 Jun 2025 Sep 2025 Dec 2026 Mar 2026 Jun Average monthly churn rate over the last 12 months * The average over the past 12 months of the monthly churn rate for real estate–related clouds, calculated as the number of cancellations in the given month divided by the cumulative number of contracts at the end of the previous month. Implementing substantial price increases in phases Although we raised prices on real estate AI products last fiscal year, the rise in the churn rate was limited. New acquisitions are also progressing steadily, contributing to higher AI&LS sales.
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Copyright 2026 SRE Holdings Corporation Financial Track Record (FY2018–FY2026 (Forecast))Overview of Our BusinessesREF 33 2 2.9 3.9 7.3 13.6 18.5 24.2 26.7 32.9 41.8 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 (Guidance) 4.2 7.4 10.5 13.9 16.8 22.1 31.0 41.8 52.3 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 (Guidance) Operating profit (consolidated) （¥100 million） （¥100 million） Net sales (consolidated)
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Copyright 2026 SRE Holdings Corporation Shareholder InformationOverview of Our BusinessesREF * Based on the shareholder register as of March 2026; the figures are disclosed in the FY2026 Annual Securities Report. 34 Financial institutions 27.9% Securities companies 6.0%Other domestic entities 24.7% Foreign entities 14.6% Individuals, others 25.9% Treasury stock 0.8% No. Shareholder Number of Shares (thousand shares) Share- holding Ratio (%) 1 Sony Group Corporation 3,748.6 23.06 2 Custody Bank of Japan, Ltd. (Trust Account) 2,681.7 16.50 3 The Master Trust Bank of Japan, Ltd. (Trust Account) 1,387.9 8.54 4 Individual Shareholder 384.5 2.36 5 Kazuo Nishiyama 353.8 2.17 6 JAPAN SECURITIES FINANCE CO., LTD. 225.2 1.38 7 NORTHERN TRUST CO. (AVFC) RE FIDELITY FUNDS 209.9 1.29 8 NOMURA INTERNATIONAL PLC A/C JAPAN FLOW 196.3 1.20 9 MSIP CLIENT SECURITIES 181.3 1.11 10 Mitsubishi UFJ eSmart Securities Co., Ltd. 181.2 1.11
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Copyright 2026 SRE Holdings Corporation Disclaimer 35 The materials and information provided in this presentation include so-called 'forward-looking statements.' These are based on current expectations, forecasts, and assumptions involving risks, and contain uncertainties that could cause actual results to differ materially from these statements. Such risks and uncertainties include general domestic and international economic conditions, such as general industry and market conditions, interest rates, and currency exchange fluctuations. Even in the event of new information or future events, the Company assumes no obligation to update or revise the 'forward-looking statements' contained in this presentation.