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Business Results for the First Quarter of the Fiscal Year Ending March 31 , 2027 August 7 , 2026 Qol Holdings Co. , Ltd . ( The Prime Market of the Tokyo Stock Exchange 3034 ) 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 . Siel 37-12
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 2 • The Pharmaceutical Manufacturing Business achieved substantial growth in sales and profits through the launch of new products and cost reductions for existing products, contributing to consolidated growth. • In the Pharmacy Business, the increase in the average price of prescriptions is supporting the growth of sales. Increase in sales but decrease in profit Higher sales and profit • Net sales increased slightly due to higher technical fee unit prices, driven by increased acquisition of dispensing technical fees, including the Community Support & Drug Supply Response Premium. • However, Number of receiving prescriptions decreased which was mainly caused by longer prescription periods. • In the CSO * 2 Business, The number of contract MRs increased due to growing demand for MR dispatches . • Five products with two ingredients launched in FY 3/2026 significantly contributed to results . • Furthermore, costs for existing products were reduced . Consolidated Financial Results Overview of Financial Results for the Three Months Ended June 30, 2026 Pharmacy Business BPO *1 Contracting Businesses Pharmaceutical Manufacturing Business Higher sales and profit *１ BPO：Business Process Outsourcing *2 CSO：Contract MR Business
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 3 Highlights 1Q FY3/2025 ended Jun. 30, 2024 1Q FY3/2026 ended Jun. 30, 2025 1Q FY3/2027 ended Jun. 30, 2026 Variance Variance(%) Net sales 61,036 71,730 73,912 2, １８１ ３.０％ EBITDA ＊ 4,837 5,958 8,757 2,79 ８ 47.0 ％ Operating profit 2,915 3,592 6,183 2, ５９１ ７２.１％ Ordinary profit 2,966 3,635 ６,１５９ ２,５２４ ６９.５％ Profit Attributable to Owners of Parent 843 1,856 3,002 1, １４５ ６１.７% Income per Share(yen) 22.59 49.43 ７９．９０ 30.47 61.6 ％ ＊Operating profit + Depreciation + Amortization of goodwill Net sales ( 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 ) EBITDA Profit Attributable to Owners of Parent ( 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 ) 61,036 63,735 73,435 65,765 71,730 70,499 73,794 74,747 73,912 1Q 2Q 3Q 4Q FY3/2025 FY3/2026 FY3/2027 4,837 5,104 7,021 4,863 5,958 5,957 4,677 8,031 8,757 1Q 2Q 3Q 4Q FY3/2025 FY3/2026 FY3/2027 843 368 2,312 1,640 1,856 1,690 1,124 2,737 3,002 1Q 2Q 3Q 4Q FY3/2025 FY3/2026 FY3/2027
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 4 Consolidated Statements of Income 1Q FY3/2026 ended Jun. 30, 2025 1Q FY3/2027 ended Jun. 30, 2026 Variance Variance(%) Net sales 71,730 73,912 2,181 3.0 ％ Cost of sales 61,344 60,886 （458 ） （0.7 ％） Gross profit 10,386 13,025 2,639 25.4 ％ Selling general and administrative expenses 6,793 6,842 48 0.7 ％ Operating profit 3,592 6,183 2,591 72.1 ％ % of Net sales 5.0% 8. ４% － － Ordinary profit 3,635 6,159 2,524 69. ５％ % of Net sales 5.1% 8.3% － － Profit Attributable to Owners of Parent 1,856 3,002 1,145 61.7 ％ % of Net sales 2.6% 4.1% － － EBITDA 5,958 8,757 2,798 47.0 ％ (unit: Millions yen)
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 5 Progress 1Q FY3/2027 ended Jun. 30, 2026 2Q FY3/2027 ended Sep. 30, 2026 Forecast Progress (%) FY3/2027 ended Mar. 31, 2027 Forecast Progress (%) Net sales 73,912 1４９,500 ４９.４% ３１５,000 2３.５% EBITDA 8,757 13,700 63.9% 28,700 ３０．５％ Operating profit 6,183 ８,４00 ７３.６% 1６,500 ３７.５% Ordinary profit ６,１５９ ８,４00 ７３.３% 1６,500 ３7.3% Profit Attributable to Owners of Parent 3,002 ４,１00 ７３.２% 7,８00 ３８.5% Income per Share (yen) ７９．９０ １０９.1 １ ７３ .２% ２０７.57 ３８.5% (unit: Millions yen)
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 6 1Q FY3/2026 処方箋 応需 OTC 販売等 BPO 事業 医薬品 製造販売 1Q FY3/2027 1Q FY3/2026 薬局 事業 BPO 事業 製薬 事業 調整他 1Q FY3/2027 Factors for Change (YoY) 71.7 73.9 3.5 6.1 ＋2.1 （＋3.0％） ＋2.5 （＋72.1％） *Includes OTC pharmaceuticals and retail sales at convenience stores 売上高 （ 億円 ） 営業利益 （ 億円 ）Net sales （Billion yen ） Operating profit （Billion yen ） Net sales of receiving prescriptions ＋0.7 BPO Contracting Businesses ＋0.３ Pharmaceutical Manufacturing Business ＋１.０ Other retail sales ＊ ＋0.２ Pharmacy Business (０) BPO Contracting Businesses ＋0.１ Pharmaceutical Manufacturing Business ＋2.6 Adjustment (0.１)
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 7 (unit: Millions yen) Current assets +7,431 Cash and deposits ＋4,295 Merchandise and finished goods ＋2,105 Non -current assets (1,861) Goodwill (1,053) Current liabilities +3,386 Accounts payable – trade ＋4,606 Short -term borrowings ＋1,000 Income taxes payable (1,624) Non -current liabilities +487 Long -term borrowings ＋155 assets +1,695 Retained earnings ＋1,987 Non -controlling interests (292) Consolidated Balance Sheets ( u n it : M il l io n s y e n ) FY3/2026 as of Mar. 31, 2026 1Q FY3/2027 as of Jun. 30, 2026 Variance Current assets 59,277 66,709 7,431 Cash and deposits 21,401 25,697 4,295 Non -current assets 98,838 96,977 (1,861) Property, plant and equipment 17,801 17,648 (152) Intangible assets 69,962 68,413 (1,548) Investments and other assets 11,074 10,915 (159) Total assets 158,116 163,686 5,569 Current liabilities 76,134 79,521 3,386 Non -current liabilities 22,141 22,629 487 Total liabilities 98,27 ６ 102,150 3,874 Interest -bearing debt 37,675 38,504 828 assets 59,84 ０ 61,535 1,695 Shareholders' equity 57,45 ２ 59,441 1,988 Total liabilities and net assets 158,116 163,686 5,569
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 8 Segment Overview Pharmacy Business BPO Contracting Businesses Pharmaceutical Manufacturing Business (unit: Millions yen) 1Q FY3/2026 ended Jun. 30, 2025 1Q FY3/2027 ended Jun. 30, 2026 YoY Variance(%) Pharmacy Business Net sales 42,840 43, ６９４ 2.0% Segment profit 1,751 1,669 (4.7 ％) % of Net sales 4.1% 3.8% BPO Contracting Businesses Net sales 3,483 3,836 １0.1% Segment profit 493 649 ３1.5% % of Net sales 14.2% 16.9% Pharmaceutical Manufacturing Business Net sales 25,407 26,381 3.8% Segment profit 2,315 4,940 １１3．3% % of Net sales 9.1% １８ .7%
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 9 Pharmacy Business Segment Information (Millions of yen) 1Q FY3/2026 ended Jun. 30, 2025 1Q FY3/2027 ended Jun. 30, 2026 Variance(%) Net sales 42,840 43, ６９４ 2.0% Segment profit 1,751 1,669 (4.7%) Main factors for change 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 • Net sales increased slightly due to higher technical fee unit prices, driven by increased acquisition of dispensing technical fees, including the Community Support & Drug Supply Response Premium. • However, Number of receiving prescriptions decreased which was mainly caused by longer prescription periods. ⚫ NHI drug price revision （April ） ⚫ Revisions of dispensing fee (June) ① [Revised] Basic Dispensing Fee ②[Integrated] Generic Drug Dispensing System Premium / Community Support System Premium ⚫ Revisions of Patient -elective care scheme for long -listed products (June) • Promotion of use of generic drug ⚫ NHI drug price revision （April ） ⚫ Partial revision of dispensing fees(April) • Stricter requirements for Medical DX Premium
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 10 Pharmacy Business Net sales Breakdown Net sales of receiving prescriptions(millions yen) Sales of receiving prescriptions＝Number of receiving prescriptions × Average price of prescription Number of receiving prescriptions(thousand unit) Average price of prescription(yen) * Excluding new stores 12,958 26,375 39,568 13,447 26,688 40,239 Existing stores M&A Total 1Q FY3/2026 1Q FY3/2027 +1.2% +3.8% +1.7% 1,236 2,900 4,177 1,229 2,813 4,079 Existing stores M&A Total 1Q FY3/2026 1Q FY3/2027 10,482 9,094 9,471 10,937 9,486 9,864 Existing stores M&A Total 1Q FY3/2026 1Q FY3/2027 (0.6%) (3.0%) (2.3%)
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 11 Pharmacy Business Revisions of Dispensing Fees and Trends in Technical Fees 1.7% 1.6% 48.7% 44.1% 0.8% 0.7% 46.4% 51.4% 2.4% 2.3% Number of pharmacies 9１６ June. 2025 June. 2026June. 2025 ■ 5pt ■ 20pt ■ 30pt ■ 37pt ■ 4７pt 919 Basic Dispensing Fee 9１６ 91 ９ June. 2026 ■ 5pt ■ 19pt ■ 29pt ■ 35pt ■ 45pt 1.0%34.2% 26.4% 36.9% 1.5% ■ 0pt ■ 27pt ■ 37pt ■ ５９pt ■ ６７pt Weighted average 40. ５pt Weighted average 27. ６ ｐ ｔ Weighted average 2 ６. ９pt 0.9% 28.5% 26.4% 44.2% ■ 0pt ■ 10pt ■ 32pt ■ 40pt Community Support & Drug Supply Response Premium Weighted average 28.9pt GP Weighted average 12.1pt Total average 41.0pt CP June. 2025 Overview of the FY3/2027 Revisions of Dispensing Fees 45→47pt 29→30pt 19→20pt 35→37pt （Consolidated base） 【percentage of store type】 * The Community Support System Premium (CP) and Generic Drug Dispensing System Premium (GP) have been integrated. (1)Further Promotion of Patient-Facing Services by Pharmacies and Pharmacists （２）Enabling Pharmacies to Fulfill Their Role as Regional Drug Supply Hubs (3)Responding to Rising Prices and Wage Increases for Healthcare Professionals (4) Enabling More Advanced Homecare CP 【Response】 ✓Continuing active participation in homecare and strengthening the regional drug supply system ✓Expanding the number of pharmacies providing homecare services and upgrading pharmacy functions to further contribute to regional healthcare Number of pharmacies （Consolidated base） 【percentage of store type】
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 12 Pharmacy Business Expansion of Scale through the Strategic Opening of New Stores 805 811 834 892 920 948 949 950 FY3/2020 FY3/2021 FY3/2022 FY3/2023 FY3/2024 FY3/2025 FY3/2026 1Q FY3/2027 FY3/ 2020 FY3/ 2021 FY3/ 2022 FY3/ 2023 FY3/ 2024 FY3/ 2025 FY3/ 2026 1Q FY3/ 2027 New Stores 18 16 15 21 16 18 10 ４ M&A 39 18 15 48 17 26 9 ０ Retail Store 3 0 1 1 2 1 0 ０ M&A and new store openings activities involving dispensing pharmacies will continue and expand primarily in and around the Tokyo, Nagoya and Osaka area （MIdori Pharmacy Haruokadoori Store / Aichi Prefecture） （LAWSON QOL Pharmacy Chuorinkan 2-Chome Store / Kanagawa Prefecture） Trend in Number of Stores ➢ LAWSON+QOL Pharmacy has grown to 50 stores. ➢ In August, the company acquired a dispensing pharmacy in the Nagoya area through M&A, increasing the number of stores in and around the Tokyo, Nagoya and Osaka area.
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 13 BPO Contracting Businesses (Millions of yen) 1Q FY3/2026 ended Jun. 30, 2025 1Q FY3/2027 ended Jun. 30, 2026 Variance(%) Net sales 3,483 3,836 １0.1% Segment profit 493 649 ３1.5% In the CSO Business, the number of contract MRs increased due to growing demand for MR dispatches. H i g h e r s a l e s a n d p r o f i t Segment Information
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 14 BPO Contracting Businesses Breakdown of the BPO Contracting Businesses and Factors Behind Net sales Growth Within the BPO Contracting Businesses, the CSO Business achieved double-digit sales growth year on year, serving as the main driver of segment growth. Breakdown of the BPO Contracting Businesses * CSO：Contract MR Business CSO／CRO* Medical Professional Referral Dispatch Medical publishing Development of high value-added and highly productive contract MRs /contract development services for pharmaceuticals, food products, etc. Referral and dispatch of medical professionals such as pharmacists and public health nurses Planning, production and publishing of medical and pharmaceutical information materials １０% 30% Share of sales within the segment 6０% Net sales ＋１０％ 1Q FY3/2026 1Q FY3/2027 Medical publishing Medical Professional Referral Dispatch CSO/CRO CSO/CRO Segment as a whole ＋１１ ％ Share of sales within the segment Share of sales within the segment *Before internal sales deduction
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 15 BPO Contracting Businesses CSO Business Drives BPO Contracting Businesses Performance Accelerating Business Growth through Specialized Expertise, Supported by the Expanding Japanese CSO Market 01 Expanding CSO Market market environment 0２ Differentiation through the Pursuit of Expertise Strengths Compared to Europe and the US, CSO utilization in Japan has significant growth potential, with the market expected to expand further. Market Growth Potential Expertise 0３ Order Growth Outpacing Market Growth Achievements Deepening Expertise High-value- added MR Growing recognition from pharmaceutical companies The Japan market has grown to its largest scale ever *Source: Japan CSO Association, "Overview of the 'Survey on the Actual Status of CSO Business in Japan' – FY2025" 3,424 3,637 4,089 4,085 4,205 6.4 7.0 8.2 8.7 9.6 2021 2022 2023 2024 2025 Number of Contract MRs in Japan (persons) Outsourcing Rate (%) ✓ Improvement in Billing Rates Quality improvement ✓ Increase in the Number of Client Companies Pipeline Expansion ✓ Increase in the Number of Contract MRs Scale Expansion 1Q 2023/3 1Q 2024/3 1Q 2025/3 1Q 2026/3 1Q 2027/3 Up 10% in 5 Years Oncology area （ONC ） Central nerves area （CNS ） Immune - related area （IMM ）
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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 (Millions of yen) 1Q FY3/2026 ended Jun. 30, 2025 1Q FY3/2027 ended Jun. 30, 2026 Variance(%) Net sales 25,407 26,381 3.8% Segment profit 2,315 4,940 １１3．3% Segment Information Main factors for change H i g h e r s a l e s a n d p r o f i t • Five products with two ingredients launched in FY3/2026 significantly contributed to results. • Furthermore, costs for existing products were reduced. ⚫ NHI drug price revision （April ） ⚫ Number of new products launched: 1 ingredient （AG ：1, launched in Jun. 2026) ⚫ Revisions of Patient -elective care scheme for long -listed products(June) ・Promotion of use of generic drug ⚫ 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. 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 Brand name Product name Effect Two products with one ingredient released in June 2026 AG Bilastine 20㎎“EP” Bilastine OD20㎎“EP” Allergy medicineBilanoaⓇ 20mg Bilanoa ODⓇ 20mg Brand name Product name EffectGE Selective SGLT2 inhibitors ForxigaⓇ 5mg ForxigaⓇ 10mg Dapagliflozin5mg“EP” Dapagliflozin10mg“EP” New Products Initial Shipments Contribute to 1Q Results Two products with one ingredient released in July 2026
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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 DAIICHI SANKYO ESPHA Co., Ltd. Performance Comparison ２.３ Billion yen ５.３ Billion yen 1Q FY3/2026 1Q FY3/2027 ２４.8 Billion yen ２６.0 Billion yen Net sales Operating profit YoY Variance(%) Factors ＋１.１ Billion yen （+４.７％） ＋3.0 Billion yen （+130.6％） Steady New Product Launches and Cost Reduction Measures Since Joining Qol Group ✓ Contribution from FY3/2026 New Product Sales ✓ Promotion of cost reduction ✓ Contribution from FY3/2027 New Product Sales *Excluding consolidation eliminations and consolidation adjustments
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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 ＋5％ 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 FY3/2026 Prasugrel Abiraterone acetate Antiplatelet agent Prostate cancer treatment（CYP17 inhibitor） FY3/2027 Bilastine Allergy medicine FY3/2023 launch FY3/2018 launch FY3/2019 launch FY3/2020 launch FY3/2021 launch FY3/2022 launch FY3/2024 launch (12%) ＋1% ＋7% ＋3% ＋5% ＋３% ＋2% ＋11% 1Q FY3/2026 1Q FY3/2027 FY3/2025 launch＋10% FY3/2026 launch FY3/2027 launch FY3/2015 launch Shipment Volume * of existing products grew steadily up 5% year on year Shipment Volume* Trends of Existing Products * Volume of pharmaceuticals shipped to medical institutions (hospitals and pharmacies) Growth in existing products
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Copyright © Qol Holdings Co., Ltd. All rights reserved. 20 Dividend 15 17 23 27 15 17 27 27 22.9% 24.6% 25.3% 26.0% 15.0% 17.0% 19.0% 21.0% 23.0% 25.0% 27.0% 0 10 20 30 40 50 60 70 Term end dividend Interim dividend Dividend payout ratio Four Consecutive Fiscal Years of Dividend Increases（forecast） Progressive dividends Planning a further dividend increase in anticipation of business growth in FY3/2027 50yen ５４yen ３４yen ３０yen ５０yen FY3/2026 annual dividend ５４yen（＋４yen） FY3/2027 annual dividend(forecast)（yen ） FY3/2024 FY3/2025 FY3/2026 FY3/2027 Interim dividend １５ １７ ２３ ２７ Term end dividend １５ １７ ２７ ２７ Annual total ３０ ３４ ５０ ５４ Dividend payout ratio （％） 22.9 24.6 25.3 26.0 Dividend policy
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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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