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Business Results for the Second Quarter of the Fiscal Year Ending March 31, 2026 and Outline of Medium -term Management Plan November 7, 2025 Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. （The Prime Market of the Tokyo Stock Exchange 3034 ）
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 2 Overview of Financial Results for the Six Months Ended September 30, 2025 Record -high Sales and Profit H i g h e r s a l e s a n d p r o f i t • In April 2025, the Company acquired an additional 29% of the shares of DAIICHI SANKYO ESPHA CO., LTD., increasing its share ownership ratio to 80%. • The pharmaceutical business has enhanced its presence and made steady contributions to Consolidated Financial Results. Consolidated Financial Results Increase in sales but decrease in profit Higher sales and profit • The technical fee unit price increased due to progress in acquiring the Medical DX Premium and the rising proportion of generic drug usage. • The number of contract MRs increased due to growing demand for MR dispatches. • 3 ingredients 7 AG products launched in the previous fiscal year made a significant contribution. Pharmacy Business BPO Contracting Business Pharmaceutical Manufacturing Business Higher sales and profit
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 3 Highlights ２Q FY3/2024 ended Sep. 30, 2023 ２Q FY3/2025 ended Sep. 30, 2024 ２Q FY3/2026 ended Sep. 30, 2025 Variance Variance(%) Net sales 88,540 124,771 142,230 17,458 14.0 ％ Operating profit 3,559 6,096 7,182 1,086 17.8 ％ Ordinary profit 3,675 6,220 7,257 1,037 16.7 ％ Profit Attributable to Owners of Parent 1,888 1,211 3,547 2,335 192.7 ％ Net Income per Share(yen) 50.80 32.43 94.51 62.08 １９１．４％ EBITDA ＊ 6,110 9,941 11,916 1,974 19. ９％ Trend in Net Sales on a Quarterly basis Trend in Ordinary Profit on a Quarterly basis 1,940 1,735 2,847 2,7332,966 3,254 5,140 2,470 3,635 3,622 0 1,000 2,000 3,000 4,000 5,000 6,000 1Q 2Q 3Q 4Q FY3/2024 FY3/2025 FY3/2026 43,403 45,136 45,987 45,524 61,036 63,735 73,435 65,765 71,730 70,499 0 20,000 40,000 60,000 80,000 1Q 2Q 3Q 4Q FY3/2024 FY3/2025 FY3/2026 ＊Operating profit + Depreciation + Amortization of goodwill ( u n i t : M i l l i o n s y e n ) ( u n i t : M i l l i o n s y e n ) ( u n i t : M i l l i o n s y e n )
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 4 Progress (unit: Millions yen) 2Q FY3/2026 ended Sep. 30, 2025 (Planned) ２Q FY3/2026 ended Sep. 30, 2025 Progress (%) FY3/2026 ended Mar. 31, 2026 (Forecast) Progress (%) Net sales 136,500 142,230 104.2% 280,000 50.8% Operating profit 7,500 7,182 95.8% 15,500 46.3% Ordinary profit 7,600 7,257 95.5% 15,600 46.5% Profit Attributable to Owners of Parent 3,600 3,547 98.5% 7,000 50.7% Net Income per Share (yen) 95.84 94.51 98.6% 186.51 50.7%
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 5 Consolidated Statements of Income (unit: Millions yen) 2Q FY3/2025 ended Sep. 30, 2024 2Q FY3/2026 ended Sep. 30, 2025 Variance Variance(%) Net sales 124,771 142,230 17,458 14.0% Cost of sales 105,722 122,110 16,388 15.5% Gross profit 19,049 20,119 1,069 5.6% Selling general and administrative expenses 12,953 12,936 (16) (0.1%) Operating profit 6,096 7,182 1,086 17.8% % of Net Sales 4.9% 5.１% － － Ordinary profit 6,220 7,257 1,037 16.7% % of Net Sales 5.0% 5.1% － － Profit Attributable to Owners of Parent 1,211 3,547 2,335 192.7% % of Net Sales 1.0% 2.5% － －
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 6 (unit: Millions yen) Current assets (3,559) Notes and accounts receivable - trade, and contract assets ＋4,800 Cash and deposits (8,424) Other (1,7 ５6) Non -current assets (3,739) Goodwill (2,102) Business right （１,629） Current liabilities ＋1,898 Accounts payable – trade ＋3,701 Refund liability (1,326) Non -current liabilities (3,359) Long -term borrowings (3,868) Net assets (5,838) Retained earnings ＋2,898 Capital surplus (5,569) Non -controlling interests (3,077) Consolidated Balance Sheets ( u n it : M il l io n s y e n ) FY3/2025 ended Mar. 31, 2025 2Q FY3/2026 ended Sep. 30, 2025 Variance Current assets 60,348 56,788 (3,559) Cash and deposits 26,727 18,303 (8,424) Non -current assets 99,321 95,581 (3,739) Property, plant and equipment 18,141 17,801 (339) Intangible assets 70,338 67,161 (3,177) Investments and other assets 10,841 10,618 (222) Total assets 159,669 152,369 (7,299) Current liabilities 74,202 76,100 ＋1,898 Non -current liabilities 23,328 19,968 (3,359) Total liabilities 97,531 96,069 (1,461) Interest -bearing debt 41,285 37,562 (3,723) Net assets 62,138 56,299 (5,838) Shareholders' equity 57,123 54,362 (2,760) Total liabilities and net assets 159,669 152,369 (7,299)
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 7 ( u n it : M il l io n s y e n ) 2Q FY3/2025 ended Sep. 30, 2024 2Q FY3/2026 ended Sep. 30, 2025 Cash flows from operating activities 477 6,186 Cash flows from investing activities 265 (1,017) Free cash flow 742 ５，１６８ Cash flows from financing activities (6,196) (13,683) Dividends paid (565) (640) Net increase (decrease) in cash and cash equivalents (5,453) (8,515) Cash and cash equivalents at beginning of period 26,944 26,378 Cash and cash equivalents at end of period 21,490 17,863 Cash Flow Statement (unit: Millions yen) Cash flows from operating activities ＋5,708 Profit before income taxes ＋2,1 ３９ Decrease (increase) in trade receivables (2,773) Increase (decrease) in trade payables ＋6,059 Cash flows from investing activities (1,282) Purchase of property, plant and equipment ＋44１ Purchase of intangible assets (175) Cash flows from financing activities (7,487) Purchase of shares of subsidiaries not resulting in change in scope of consolidation (7,225) Repayments of long -term borrowings ＋276 Dividends paid to non -controlling interests (1,217)
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 8 Segment Overview (unit: Millions yen) 2Q FY3/2025 ended Sep. 30, 2024 2Q FY3/2026 ended Sep. 30, 2025 YoY Variance(%) Pharmacy Business Net sales 84,080 86,734 3.２% Segment profit 4,232 4,052 (4. ３%) % of Net Sales 5.0% 4.7% BPO Contracting Businesses Net Sales 6,755 7,053 4.4% Segment profit 928 1,002 8.0% % of Net Sales 13.7% 14.2% Pharmaceutical Manufacturing Business Net Sales 33,936 48,443 42.7% Segment profit 2,742 4,042 47.4% % of Net Sales 8.1% 8. ３% Pharmacy Business BPO Contracting Business Pharmaceutical Manufacturing Business
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 9 Pharmacy Business Segment Information ( M il l io n s o f y e n ) 2Q FY3/2025 ended Sep. 30, 2024 2Q FY3/2026 ended Sep. 30, 2025 Variance(%) Net sales 84,080 86,734 3.２% Expenses 79,911 82,758 3.6% Segment profit 4,232 4,052 (4. ３%) I n c r e a s e i n s a l e s b u t d e c r e a s e i n p r o f i t The technical fee unit price increased due to progress in acquiring the Medical DX Premium and the rising proportion of generic drug usage. NHI drug price revision （April ） Revisions of medical fee was made in June. (previously April) ① [Revised] Basic Dispensing Fee ② [Newly established] Medical DX Premium Patient -elective care scheme for long -listed products has started. (October) • Promotion of use of generic drug NHI drug price revision （April ） Main factors for change
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 10 Pharmacy Business Net Sales Breakdown 24,779 52,705 77,973 26,371 53,317 80,121 Existing stores M&A Total 2Q FY3/2025 2Q FY3/2026 2,430 5,877 8,395 2,470 5,734 8,286 Existing stores M&A Total 2Q FY3/2025 2Q FY3/2026 10,194 8,968 9,288 10,675 9,298 9,669 Existing stores M&A Total 2Q FY3/2025 2Q FY3/2026+6.4% +1.2% +2.8% +1.6% (2.4%) (1.3%) Net Sales of receiving prescriptions(millions yen) Number of receiving prescriptions(thousand unit) Average price of prescription(yen) Sales of receiving prescriptions＝Number of receiving prescriptions × Average price of prescription * Excluding new stores
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 11 Pharmacy Business Details of Technical Fees(transition) 0.4% 1.0%25.7% 31.1% 26.7% 27.1% 47.1% 40.8% 2.3% 1.8% 47.4% 49.2% 0.6% 0.8% 47.4% 46.0% 2.4% 2.3% 54.3% 87.5% 30.8% 9.1%8.3% 1.2% 6.6% 2.2% Sep. 2025Sep. 2024 ■ 0 pt ■ 10 pt ■ 32 pt ■ 40 pt ■ 5 ｐｔ ■ 19 pt ■ 29 pt ■ 35 pt ■ 45 pt ■ 0 pt ■ 21 pt ■ 28 pt ■ 30 pt 66.2% 26.7% 5.4% 1.8% 0点 6点 8点 10点99.1% 0.9% ■ 0 pt ■ 4 pt ■ 0 pt ■ 6 pt ■ 8 pt ■ 10 pt92.1 ％ （Sep.2025 ） Generic Drug Switch Rate ( Q u a n t i t y b a s e ) Consolidated base Basic Dispensing Fee (percentage of store type) Community Support System Premium (percentage of store type) Generic Drug Dispensing System Premium (percentage of store type) Medical DX Premium (percentage of store type) Number of pharmacies 925 911 925 911 925 911 925 911 Number of pharmacies Number of pharmacies Number of pharmacies Sep. 2025 Sep. 2025 Sep. 2025 Sep. 2024 Sep. 2024Sep. 2024
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 12 BPO Contracting Business Segment Information (Millions of yen) 2Q FY3/2025 ended Sep. 30, 2024 2Q FY3/2026 ended Sep. 30, 2025 Variance(%) Net sales 6,755 7,053 4.4% Expenses 6,448 6,695 3.8% Segment profit 928 1,002 8.0% H i g h e r s a l e s a n d p r o f i t The number of contract MRs increased due to growing demand for MR dispatches.
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 13 P h a r ma c e u t ic a l M a n u f a c t u r in g B u s in e s s Segment Information ( M il l io n s o f y e n ) 2Q FY3/2025 ended Sep. 30, 2024 2Q FY3/2026 ended Sep. 30, 2025 Variance(%) Net sales 33,936 48,443 42.7% Expenses 31,194 44,400 42.3% Segment profit 2,742 4,042 47.4% H i g h e r s a l e s a n d p r o f i t 3 ingredients 7 AG products launched in the previous fiscal year made a significant contribution. Main factors for change NHI drug price revision （April ） In April 2024, the Company increased its shareholding in DAIICHI SANKYO ESPHA Co., Ltd. From 30% to 51%. Number of new products launched: 4 ingredients （GE ：1、launched in Jun. 2024 AG ：3、launched in Dec. 2024 ） NHI drug price revision （April ） In April 2025, the Company increased its shareholding in DAIICHI SANKYO ESPHA Co., Ltd. from 51% to 80%.
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 14 P h a r ma c e u t ic a l M a n u f a c t u r in g B u s in e s s ①新しい医療への挑戦 ９１６ ９４８ ３３１ ４７４ 2Q FY3/2025 2Q FY3/2026 ■DAIICHI SANKYO ESPHA ■Other （100 million yen） １,４２２ 【＋１74】 Consolidated Net Sales Trend Impact of DAIICHI SANKYO ESPHA’s Performance on Consolidated Results １,２４７ 【＋142】 【＋31】 Strong performance of DAIICHI SANKYO ESPHA CO., LTD. contributed to the Group's growth ①新しい医療への挑戦 Consolidated Operating Profit Trend ３１ ３０ ２９ ４０ 2Q FY3/2025 2Q FY3/2026 【＋１1】 【（0.9）】 【＋1１】 ■DAIICHI SANKYO ESPHA ■Other （100 million yen） ６０ ７１
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 15 P h a r ma c e u t ic a l M a n u f a c t u r in g B u s in e s s DAIICHI SANKYO ESPHA CO., LTD. supports 33% of consolidated sales and 45% of consolidated operating income ①新しい医療への挑戦 Consolidated Net Sales Breakdown Impact of DAIICHI SANKYO ESPHA’s Performance on Consolidated Results （＋142） （＋31） ①新しい医療への挑戦 Consolidated Operating Profit Breakdown （▲0.9） （＋1１） 27% 33% ＊Simple sum of Each Business, excluding Adjustment （＋６％） （＋142） （＋31） 37% 45% 2Q FY3/2025 2Q FY3/2026 （＋８％） ■DAIICHI SANKYO ESPHA ■Other ■DAIICHI SANKYO ESPHA ■Other 2Q FY3/2025 2Q FY3/2026
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 16 P h a r ma c e u t ic a l M a n u f a c t u r in g B u s in e s s Growth in existing AG ＋１７ ％ Shipment Volume* Trends of Existing AG Products Year of launch Generic name Main purpose FY3/2015 Levofloxacin Antibacterial agent FY3/2018 Telmisartan Telmisartan/Amlodipine Telmisartan/Hydrochlorothiazide Olmesartan Rosuvastatin Hypertension treatment Hypertension treatment Hypertension treatment Hypertension treatment Hypercholesterolemia treatment FY3/2019 Levofloxacin（Injection） Silodosin Gefitinib Antibacterial agent Urinary disorder Anti-cancer agents FY3/2020 Bicalutamide Anastrozole Tamoxifen Anti-cancer agents Anti-cancer agents Anti-cancer agents FY3/2021 Memantine Hydrochloride Ezetimibe Dementia Hypercholesterolemia treatment FY3/2022 Bortezomib Carvedilol Pilsicainide hydrochloride hydrate Anti-cancer agents Chronic heart failure treatment Arrhythmia FY3/2023 Azocemide Febuxostat Diuretic Hyperuricemia treatment FY3/2024 Bisoprolol fumarate Hypertension treatment FY3/2025 Rivaroxaban Loxoprofen Sodium Tape Hydroxychloroquine Sulfate Selective direct effect Factor Xa inhibitor (Oral Anticoagulants) Transdermal analgesia Anti-Inflammatory agent Immune adjusters up 17% year on year FY3/2015 launch FY3/2023 launch FY3/2018 launch FY3/2019 launch FY3/2020 launch FY3/2021 launch FY3/2022 launch FY3/2024 launch * Volume of pharmaceuticals shipped to medical institutions (hospitals and pharmacies) ＋4% ＋3% ＋2% ＋8% ＋7% ＋21% ＋9% ＋28% 2Q FY3/2025 2Q FY3/2025 FY3/2025 launch Shipment Volume * of existing AG products grew steadily
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 17 P h a r ma c e u t ic a l M a n u f a c t u r in g B u s in e s s Status of New Authorized Generic (AG) Products Launched in FY3/2025 Sales of New Products （AG） in the Previous Fiscal Year ■T o p r o w f ig u r e s N e t s a l e s s h ip p e d t o m e d ic a l in s t it u t io n s ( m il l io n s o f y e n ) ■B o t t o m r o w f ig u r es N u m b e r o f m e d ic a l in s t it u t io n s t h a t a d o p t e d p r o d u c t s FY3/202 ５ （December to March ） ① 2Q FY3/2026 ended Sep. 30, 2025 ② FY3/2026 ended Mar. 31, 2026 （Forecast ） ③ Increase in the previous fiscal year （③ー①） Rivaroxaban ６,０２４ （16,767 ） ９,６４０ （３６ ,４９４） ２０,7００ ＋１４,６７６ Loxoprofen Sodium Tape １,２７９ （１０,340 ） ２,５６２ （１４,７５０） ５,２００ ＋3,921 Hydroxychloroquine Sulfate ２４７ （１,９８１） ４８１ （５,９７１） １,２００ ＋９53 The products (AG) launched in December 2024 were steadily adopted by medical institutions, contributing to full -year performance.
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 18 P h a r ma c e u t ic a l M a n u f a c t u r in g B u s in e s s Brand name Product name Effect ZytigaⓇ 250mg Abiraterone acetate 250㎎「DSEP」 Prostate cancer treatment （CYP17 inhibitor） We are currently working towards launching more new products within this fiscal year. New Products One ingredient, one AG product scheduled for release in December 2025
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 19 P h a r ma c e u t ic a l M a n u f a c t u r in g B u s in e s s × We aim to maximize synergies to achieve pipeline expansion and value chain optimization. A major growth driver for Qol Group Further growth of Pharmaceutical Manufacturing Business Fujinaga pharm Co., Ltd. DAIICHI SANKYO ESPHA CO., LTD.
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 20 Overview and Strengths of Qol Group MR Over 800 people Providing seamless medical care through Group -wide collaboration Build up comprehensive strengths by concentrating on and specializing in medical care C o m p r e h e n s i v e H e a l t h c a r e C o m p a n y R&D M a n u – f a c t u r e Sales M e d i c a l i n s t i t u t i o n s D i s p e n s i n g p h a r m a c i e s P a t i e n t s Pharmacist Over 4,000 people Pharmacy Business Pharmaceutical Manufacturing Business BPO Contracting Business
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 21 Group initiatives Pharmacy Business BPO Contracting Business Pharmaceutical Manufacturing Business ■ Stable sales ■Scale expansion ■Quality improvement ■Focus on profitability ■Scale expansion ■M&A ■Focus on sales growth and profitability ■Expand AG ■Expand sales capabilities Maximize corporate value Stable sales from Pharmacy Business. Profits from Pharmaceutical Manufacturing and BPO.
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 22 Improving the quality of medical care services Flexibly responding to increasingly diverse medical needs leveraging the expertise and educational capabilities of employees External environment • As the review of social security expenditures progresses, it is becoming increasingly important to address medical needs that contribute to improving the health and quality of life of the public. • Opportunities are increasing for our staff to make independent judgments and provide explanations directly to patients. • It is becoming increasingly important for each staff member to demonstrate their expertise and respond appropriately. Demonstrating expertise will become increasingly important. Strengthening the education system Aiming to cultivate a culture where all staff, including pharmacists, continue to learn, we established our educational philosophy, which we published in our Qol Group Lifelong Education Declaration, and we are promoting the development of our learning environment.
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 23 Outline of Medium -term Management Plan
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 24 Review of the Past Five Years Review of the Past Five Years (FY3/2021-FY3/2025) Review Topics • Exceeded 900 stores • In sales, a CAGR of +2%* was achieved despite the revision of drug prices and technical feesPharmacy • 26%* increase in the scale of sales over five years Achieved double-digit growth across all the companies • APO PLUS CAREER spun off as an independent company Net sales grew 1.5 times BPO • Entry into the Pharmaceutical Manufacturing Business (Acquisition of Fujinaga Pharmaceutical) • Expansion of the pharmaceutical manufacturing business through the M&A of Daiichi Sankyo Espha Pharmaceutical Manufacturing 263.9 billion yen 161.8 billion yen FY3/2021 FY3/2025 (+102.1 billion yen +63.1％) Consolidated Net sales 13.4 billion yen 7.3 billion yen (+6.1 billion yen +82.8％) Consolidated Operating Profit 5.1 billion yen (+1.7 billion yen +53.4％) 3.3 billion yen Consolidated Net Income ※Simple sum of segments
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 25 8.2 12.9 12.2 9.6 9.4 4.0 6.0 8.0 10.0 12.0 14.0 FY3/2021 FY3/2022 FY3/2023 FY3/2024 FY3/2025 The company’s PBR exceeds 1.0, and its ROE continues to surpass the cost of capital. 1.38 0.98 0.88 1.24 1.18 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 1.8 FY3/2021 FY3/2022 FY3/2023 FY3/2024 FY3/2025 （倍） 17.3 7.8 7.5 13.4 13.1 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 FY3/2021 FY3/2022 FY3/2023 FY3/2024 FY3/2025 （％） （x） PBR ROE PER The company’s estimated cost of capital is approximately 7.5% to 8.3%. （x） 5 years of results
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 26 The surrounding environment is becoming increasingly uncertain. Geopolitical risks Rapid response to environmental and social issues Accelerating advancement of digital technology Risks related to climate change and infectious diseases Restructuring and going on the offensive with drug stores Major restructuring of the pharmacy market Downward revision of medical fees Uncertainty in pharmaceuticals supply To remain competitive moving forward Becoming a company which continues to grow even in an environment that changes unpredictably To continuously refine and leverage the Qol Way ・・・ Critical Environmental Recognition for the Medium-Term Management Plan
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 27 Pursuit of economic value For medical care, continuity and expansion (i.e., supporting a greater number of patients) are also vital. We will refine the Group's comprehensive strengths and achieve sustained growth by increasing our growth potential and profitability. Solving social issues As a medical institution, we are consistently dedicated to continuously learning, above all, for our patients, and to continuing to offer high-quality medical care services utilizing the full strength of the Group. Comprehensive Strengths of the Qol Group Comprehensive strengths of the Qol Group Aiming to be a company that grows sustainably together with society by leveraging the unique comprehensive strengths of the Qol Group to resolve health and medical social issues while pursuing economic value. Pharmacy Patients Development Manufacturing Sales The Qol Way = The unwavering values of the Qol Group
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 28 Qol Group's Commitment to Medical Care Qol's origin is in medical care. We have developed within the medical field to date, supported by patients and many other stakeholders. We believe that the Qol Way is best demonstrated in the context of medical care and specifically for the benefit of patients. As a comprehensive healthcare company, Qol will continue to move forward for the sake of medical care and, above all, for our patients. 2007 1993 20232002 2009 2012 2018 2019 First store opened Pharmacy 100 stores 20202013 2024 Pharmacy 900 stores 2030 Pharmacy 200 stores Medium-Term Management Plan 2030 2008 Pharmacy 500 stores First stage of growth (from our founding to growth of our pharmacies) Second stage of growth (the acceleration of the growth of the pharmacies and our expansion into new medical fields) Third stage of growth Net sales Operating profit 76.7 billion yen 2.8 billion yen Consolidated Net Sales Consolidated Operating Profit 13.4 billion yen 263.9 billion yen
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 29 ①新しい医療への挑戦 A trajectory of sustainable growth Achieving high growth and profitability through proactive investments. Aiming for sustainable growth through a virtuous cycle of reinvesting the cash generated. ①新しい医療への挑戦 ７１.８ １７１.６４.８ １３.６ ７８.７ FY3/2013 FY3/2025 Achieving significant growth through aggressive investment ■Pharmaceutical Manufacturing ■BPO ■Pharmacy （billion yen） （＋９９.7） （＋８.7） （＋７８.７） ７６.7 ２６３.９ （＋１８７.1） Sales trends Growth potential OP margin ５.1％ Outside：Net Sales Inside：Operating profit ３.7％ FY3/2013 FY3/2025 Profitability BPO and Pharmaceutical Manufacturing Business have created a highly profitable portfolio Composition by segment OP margin ①新しい医療への挑戦 Increasing Cash Inflows to Drive Further Growth Investment Shareholder Returns Pharmacy Cash-in Cash out Stable income Pharmaceutical Manufacturing BPO Operating Cash Flow Large-scale M&A Growth investment Strategic Capital Allocation Maximizing Operating Cash Flow Profit cycle High profitability High growth ■Pharmaceutical Manufacturing ■BPO ■Pharmacy ＊Simple sum of Each Business, excluding Adjustment
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 30 Our Vision for 2030 Qol's true value, continuously refined and demonstrated Deliver Peace of Mind in Healthcare to Everyone. Everyone Addressing QOL and contributing to the local community Peace of mind regarding medical issues To be proud of being a healthcare provider Presence that enables A posture of being a medical and health support provider beyond the scope of a pharmacy
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 31 Medium -Term Management Plan 2030 Vision Linking the Qol Vision to the themes in the Medium-Term Management Plan to further realize the Value We Pursue in our vision Delivering the Future of Medical Care Swiftly to Our Patients. As a direct presence in medical care, we operate close to our patients, supporting their lives and well-being and creating new value. By flexibly incorporating changing systems and technologies, we will remain a presence that supports the health and peace of mind of society as a whole. To Be the Most Trusted Partner Supporting People's Health in Their Everyday Lives We provide life-enhancing convenience and expertise through various medical care and wellness services. We contribute to the realization of prosperous lives as a part of the health infrastructure of local communities. Toward a Future Where People and the Company Shine Together Each employee, taking pride in their being a medical care provider and continuously learning, will drive the growth of both the company and society. We will build a sustainable future through education and professional development. Progress through organic growth Become the pharmacy of choice Provide new medical care Qol Vision Medium-Term Management Plan 2030 Vision
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 32 Numerical Targets Numerical targets for 2030 ５００ billion yen （CAGR 11％） （Compared to FY3/2025 ＋89％） Consolidated Net sales ３５ billion yen （Operating profit margin ７％） （Compared to FY3/2025 ＋160％） Consolidated Operating profit １５ ％ （Results for FY3/2025 9.4％） ＲＯＥ
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 33 Growth scenario FY3/2026 Plan FY3/2031 Targets Net sales 28０ Operating profit 15.5 Net sales 50０billion yen Operating profit 35 billion yen Net sales ＋４２ Operating profit ＋６.６ Net sales ＋１７8 billion yen Operating profit ＋１３ billion yen Large scale investment Growth of existing businesses Pharmacy ・Store network expansion through new openings and small-scale M&A (over 1,000 stores) ・Sales CAGR +2% ・Business process transformation（Remote prescription data entry support、 Utilization of remote medication guidance support） BPO ・Continuing business expansion to 1.5 times FY3/2025 level ・Expand CMR to 1,000 in the CSO business Pharmaceutical Manufacturing ・Continuous launch of new AG products(DSEP) ・Regular launch of new products under development (Fujinaga) synergy ・Create synergies through cross-segment projects to drive new business development and productivity improvement. Growth scenario for existing businesses Development of existing businesses Large scale investment (Large-scale M&A Product introduction) Achieving business growth through two wheels and (Billion yen) (Billion yen)
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 34 Basic Policies Deepening Evolution Pursue the growth Strategy of each business in greater depth Maximize synergies among segments Develop strengths of wide -ranging contact points into new growth drivers
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 35 Growth Scenario: Pharmacy Business (1) [Convenience] Provide care to more patients [Expertise] Provide higher quality medical care [Profitability] Sustainably provide care Expansion of health-supporting features (health counseling, self-medication, disease prevention) Promotion of certified pharmacies Expansion of homecare business Creating Qol Group Fans (QOL Okusuribin (medicine deliveries) / Online Pharmacies, Dokodemo Pharmacy / Six Primary Pharmacies Movement / BtoB coordination / strengthening of store openings) Strengthening collaboration with partner companies Improvement of productivity at stores • DX (electronic drug history cloud computing: Investment in cloud maximization, mechanization, and automation) • Business process transformation（Remote prescription data entry support、 Utilization of remote medication guidance support） D e e p e n i n g Pharmacy Business
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 36 Growth Scenario: Pharmacy Business (2) Offer consolidated Functions as services (New businesses, profits) Consolidation and division of functions among pharmacies Creating an environment that allows focus on interpersonal work • Consolidation/productivity improvement of object operations (Review of flow for Dispensing Pharmacy Business, homecare operations, various administrative tasks, etc.) • Focus on/maximize core operations such as interpersonal work Evolution P h a r m a c y B u s i n e s s Contribution to local healthcare as a platformer • Consolidation of in-house functions into a service for community pharmacies →Expand sales together with APO PLUS CAREER with whom we have connections • Strengthening of functions and services through mergers and acquisitions as needed BPO
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 37 Growth Scenario: BPO Business (1) Publishing Business CSO Business CRO Business Professional Referral Dispatch Business CSO: Strengthening competitiveness • Expansion of sales in growth areas • Business alliances with employment agencies Transformation into highly profitable structure • Revival of profit base business • Further expansion of growth businesses (convention/compliance business) • Promotion of intra-group collaboration (event planning and operation/material production/sales collaboration) Fostering sustainable growth capabilities • Seed discovery through spot deployment of pharmacists • Gathering of more active customers and potential customers BPO Business CRO: Differentiation strategy • Advanced technology acquisition (M&A/business partnerships) • New development in the food sector D e e p e n i n g
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 38 Integrated sales activities for customers Growth Scenario: BPO Business (2) Developing business by leveraging relationships with local medical services Coordinate and share sales activities with customers (Sales Efficiency) • Group-wide selection of key customers Sales policy development for each customer (Sales Enhancement) Developing business for pharmaceutical manufacturing by leveraging relationships with our own pharmacies and local healthcare • Providing information on the needs of medical institutions for pharmaceutical companies • Development of services for pharmaceutical manufacturing (marketing support, advertising, etc.) Strengthening and expansion of community medical support P h a r m a c e u t i c a l M a n u f a c t u r i n g BPO P h a r m a c y Utilize consolidated information to provide support to medical institutions • Jointly market pharmacy business consolidated functions as services • Strengthening relationships with existing customers while expanding services • Also develop new customers and connect them to existing services P h a r m a c y EvolutionBPO Business
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 39 Growth Scenario: Pharmaceutical Manufacturing Business (1) New areas Existing areas Strengthening of AG lineup Strengthening of own initiative GE (added value + high difficulty) In-vitro diagnostic kits Improving the productivity of manufacturing lines Repositioning, orphan drugs, new dosage forms Medical devices, medical care DTx (app), product development from the perspective of homecare patients Strengthening of development structure (strengthening of organizations, in-group coordination） Pharmaceutical Manufacturing Business D e e p e n i n g
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 40 Growth Scenario: Pharmaceutical Manufacturing Business (2) Value chain optimization/ Strengthening Optimizing while coordinating and cooperating within the Group on R&D, production, distribution, sales, etc. • R&D: Conceptualization and realization of joint development systems • Production: Optimization of manufacturing efficiency, internalization of production within the Group • Distribution and Sales: Further strengthening relationships with stakeholders ((1) medical professionals, (2) wholesalers) Developing and providing Information from the perspective of patients BPO P h a r m a c y Understanding the needs of patients and medical professionals through the pharmacy business, and strengthening drug development and information provision activities • Pharmaceutical development Additional adaptations in line with needs, changes in dosage forms, innovations in packaging, and tableting, etc. • Strengthening information provision activities arranging information according to the needs of patients and healthcare professionals BPO P h a r m a c e u t i c a l M a n u f a c t u r i n g Pharmaceutical Manufacturing Business Evolution
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 41 What We Believe In Sharpening Our Three Arrows to “Deliver Peace of Mind in Healthcare to Everyone.” Pharmacy BPO Pharmaceutical Manufacturing× ×
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[IR inquiry] Public Relations Department, Qol Holdings Co., Ltd. TEL:+81-(0)3-6430-9060 FAX:+81-(0)3-5405-9012 E-mail: ir@qol-net.co.jp Disclaimer The information of this material and supplementary materials are intended to provide information to shareholders and investors. No information is intended as a solicitation for investment. The information may include forward-looking statements and these forward- looking statements do not guarantee our future financial results due to various matters that could cause actual results to differ materially from those discussed in the forward- looking statements. The statements regarding industry information are made based on reliable data and these statements do not guarantee its accuracy or completeness. We request that investment decision be made at your discretion and not by depending solely on the information.
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Always there to care