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DIGITALGRIDCorporation 350A (TSE Growth Market) FULL - YEAR FINANCIAL RESULTS (FY ENDED JULY 2026), BUSINESS PLAN AND GROWTH POTENTIAL 1/2 September 10, 2026 DIGITAL GRID Corporation 350A (TSE Growth Market)
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FYE July 2026 was DIGITAL GRID’s first full year as a listed company — and it was a strong start . We delivered our seventh consecutive year of growth in both net sales and profit, while nearly completing investment decisions for the JPY 10 billion three - year grid - scale battery investment plan . Even in a challenging pricing environment, our contracted capacity grew 38 % year on year . We also improved customer retention, with monthly average churn declining from 2 . 90 % to 1 . 64 % , supported by stronger marketing and sales execution . At the same time, demand for power price hedging continues to rise amid global uncertainty, and we are seeing steady momentum in solutions with partially fixed - price options . Our battery business, launched in 2022 , has now entered the monetization phase and is scaling steadily . By bringing together our strengths in energy, technology, and finance, we expect this segment to generate more than JPY 2 billion in net sales in FYE July 2027 and to grow into a third pillar of earnings . Looking ahead, our new medium - term management plan targets consolidated net sales of more than JPY 10 billion and adjusted EBITDA of more than JPY 4 billion in FYE July 2029 . We will continue to invest in our platform and battery businesses to accelerate synergies and sustainable growth, supported by expanded financing capacity and careful consideration of strategic opportunities, including M&A . Together with our customers and partners, DIGITAL GRID will keep shaping the future of the power industry — and move closer to our Mission : the democratization of energy . Yusuke Toyoda, Representative Director & President, CEO Our First Year As a Listed Company and the Next Stage of Growth Message from the CEO
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 3 Full - Year Highlights Note: Figures are rounded down to the nearest JPY 100 million, MW, and GW, and may therefore differ from previously disclosed fi gures. Percentages are rounded to one decimal place. *1 Total contracted capacity with consumers and renewable energy generators, plus grid - scale battery capacity handled. *2 Total number of contracted consumer and generator companies, plus companies with grid - connected battery storage facilities in the AS business. *3 Cumulative total for FYE July 2026. *4 Recurring revenue ratio represents the share of total net sales attributable to DGP fee revenue (Power PF and RE PF) and A S b usiness revenue. 01 0 2 0 3 ◼ Seven consecutive year of growth ◼ Aggregation Services (AS) business ahead of plan Financial Results Total Contracted Capacity *1 Number of Contracted Companies *2 Battery B usiness ◼ Investment decisions approved ( vs. JPY 10 B mid - term plan) ◼ Record highs Total contracted capacity 1.4 GW +38.3% YoY Number of contracted companies 1,4 97 +2 4 9 YoY Equity ratio 34.1 % ROE 70.3 % 21.7 % Net S ales JPY 7.1 B （ +15.6 % ） Operating P rofit JPY 3.0 B （ +10.0 % ） Ordinary P rofit JPY 2.9 B （ +11.3 % ） Net I ncome JPY 2.0 B （ +9.0 % ） IR JPX Startup High - Growth 100 Index IR EPS JPY 50.8 Selection as a Margin able Stock Recurring ratio *4 YoY (Ctrl or Command) + click (Ctrl or Command) + click Net S ales * 3 JPY 48 9 M Profit * 3 JPY 28 3 M Nearly Completed
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 4 AGENDA 1. FYE July 2026 Full - Year Results P. 07 2. Business Progress P.14 3. FYE July 2027 Forecast & Mid - Term Plan P.32 4. Enhanced Disclosure and Communication P. 37 Appendix 1. Company Highlights P.40 2. Business Environment P.57
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 5 Mission DIGITAL GRID Group acts as a platform provider connecting the power ecosystem. As power generation, retail, and balancing resources grow diverse, the DIGITAL GRID platform enables system - wide optimization through data and algorithms. Empower the democratization of energy
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 6 Delivering Quality Growth *1 *1 A stock that demonstrates both a high level of capital efficiency and a high growth rate * 2 Prepared by the Company based on relevant companies’ disclosures, excluding companies with negative operating profit. Platfor m p eers: domestic companies outside the power - related sector, identified from interviews with attendees of the Company’s investor briefings. Power and Gas peers: TSE - listed companies classified under the “Electric Power and Gas” category by the TSE. Operating profit per employee is calculated as operating profit divided by the average number of employees during the period. P rofitability and productivity improve as the business scales . Net sales grew about 5.9x over the past five years, and the operating profit margin reached 42.4% . Growth: Continued expansion of net sales and operating profit Quality: High profitability and productivity *2 （ JPY M ） 0 100 200 300 400 500 0 10 20 30 40 50 Operating profit per employee （ JPY mn ） Operating margin （ % ） Power and Gas peers Platform peers 1,210 1,691 3,515 6,153 7,113 24 438 1,547 2,742 3,017 FYE22/7 FYE23/7 FYE24/7 FYE25/7 FYE26/7 +15.6% Operating profit Net sales OPM (FYE 26/7) 42.4 % OP per E mployee ( FYE 26/7) 33 M
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1. Full - Year Financial Results FY Ended July 2026
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 8 （ JPY million ） FYE 26/7 FYE 25/7 YoY Revised Plan *2 Vs. Revised Plan Net s ales 7,113 6,153 +15.6 ％ 6,595 +7.9% DGP fee revenue 4,514 4,791 - 5.8 ％ 5,082 - 11.2% Transaction volume (GWh) 3,152 2,677 +17.7% 3,228 - 2.3% C ontracted capacity (MW) 1,429 1,034 +38.3% - - Gross profit 5,793 4,580 +26.4 ％ 4,762 +21.7% （ Gross profit margin ） 81.4% 74.4% +7.0 pt 72.2% +9.2 pt SG&A expenses 2,775 1,837 +51.0 ％ 2,398 +15.7% Personnel expenses 1,306 1,008 +29.5% - - Operating profit 3,017 2,742 +10.0 ％ 2,836 +6.4% （ Operating profit margin ） 42.4 ％ 44.6% - 2.2 pt 43.0% - 0.6 pt Non - operating income 159 11 +1,240.1 ％ - - Non - operating expenses 267 140 +90.6 ％ - - Ordinary profit 2,909 2,614 +11.3 ％ 2,660 +9.4% Net income 2,037 1,870 +9.0 ％ 1,919 +6.2% Financial Highlights ｜ Full - Year Results Net sales and profit grew YoY and exceeded the revised plan. Total Contracted Capacity (MW) *1 ‒ Expanded +38.3% YoY to 1,429 MW driven by new acquisitions of both consumers and generators, as well as retention outreach to reduce churn. SG&A Expenses ‒ Personnel expenses grew +29.5% due to hiring to support business expansion. Coupled with higher marketing costs and regular bonuses, SG&A grew +51.0% YoY. Non - operating Income ‒ Non - operating income increased on gains from capacity payment settlements. Non - operating Expenses ‒ Interest expenses increased due to borrowings for business expansion and grid - scale battery investment. Note: Figures under JPY 1 million, 1 GWh, and 1 MW are rounded down and may not match previously disclosed data. *1 Sum of contracted capacity for consumers, renewable energy generators, and grid - scale batteries. *2 Plan figures for net sales, operating profit, ordinary profit, and net income are the revised full - year forecast announced on June 11, 2026; other items are the figures disclosed on September 11, 2025.
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 9 Financial Highlights ｜ Quarterly Consolidated Net Sales Note: FYE24 /7 figures are non - consolidated; consolidated statements apply from FYE 25/7. Figures under JPY 1 million are rounded down and m ay not match previously disclosed data. * 1 Non - DGP fee revenue (excl. AS business) mainly consists of settlement amounts with transmission system operators ( TSOs ), revenue from associated contracts, and brokerage fees for FIT non - fossil certificates. Settlement amounts reflect the gap between power procurement and imbalance unit prices; associated - contract revenue arises from contracts incidental to power trading; brokerage fees arise from non - fossil certificate transactions. Quarterly net sales hit a record high; DGP fee revenue grew QoQ due to expansion in contracted capacity. AS business exceeded plan on project build - up; now a second - large source of recurring revenue after DGP fees . 474 591 700 1,052 1,224 1,199 1,164 1,203 1,207 1,086 1,038 1,181 172 173 152 198 463 88 130 253 421 313 156 782 149 609 572 0 500 1,000 1,500 2,000 2,500 （ JPY million ） FYE24/7 Q 1 Q2 Q3 Q4 FYE25/7 Q 1 Q2 5 Q3 2 Q4 16 FYE26/7 Q 1 Q2 Q3 Q4 646 764 852 1,250 1,687 1,620 1,482 1,361 2,005 1,323 1,778 2,006 *1 +94% QoQ +13.8% QoQ DGP fee revenue AS business revenue Non - DGP fee revenue (excl. AS business)
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 10 Financial Highlights ｜ Breakdown of DGP Fee Revenue Note: Consolidated financial statements are applied from FYE 25/7. Contracted capacity, per - unit fee, and volume per contracted capacity are based on the sum of generators and consumers; index figures use FYE 25/7 full - year = 100. Transaction volume and per - unit fee (index) are based on preliminary data and may be revised. Figures under JPY 1 million and 1 MW are rounded down and may not match previously disclosed data. Contracted capacity remained stable QoQ, while higher seasonal transaction volume offset lower fee unit prices, driving a QoQ increase in DGP fee revenue. （ MW ） （ JPY million ） Q3 → Q4 (+23.9%) Q3 → Q4 ( - 8.0 % ) Q4 volume rose with early summer Volume per contracted capacity (index) Per unit fee (index) Fee unit prices are being adjusted flexibly DGP fee revenue Contracted capacity (excl. batteries) Variance factors (seasonality and per - unit fee) Other 1,224 1,199 1,164 1,203 1,207 1,086 1,181 FYE25/7 Q 1 Q2 Q3 Q4 FYE2 6 /7 Q 1 Q2 Q3 Q4 1,038 +13.8% 824 937 1,015 1,023 1,081 1,115 1,265 1,264 FYE25/7 Q 1 Q2 Q3 Q4 FYE2 6 /7 Q 1 Q2 Q3 Q4 - 0.1% Power Platform RE Platform
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 11 Financial Highlights ｜ Non - Financial KPIs: Total Contracted Capacity Total contracted capacity grew across all segments, , up 38.3% YoY and reaching a record - high at 1,429 MW . Business portfolio diversified as contract base expanded from power trading to renewables and batteries. 67 176 318 279 354 437 510 656 663 722 766 742 751 761 888 871 67 110 142 161 215 249 281 330 354 377 393 62 102 165 Q2 Q3 Q4 FYE24/7 Q 1 Q2 Q3 Q4 FYE25/7 Q 1 Q2 Q3 Q4 FYE26/7 Q 1 Q2 Q3 Q4 298 384 504 620 798 824 941 1,021 1,033 1,105 1,177 1,367 1,429 1 11 14 68 30 4 6 10 19 187 332 FYE23/7 Q 1 24 38.3% （ MW ） Contracted capacity - consumers Contracted capacity - renewable energy generators Contracted capacity - grid - scale batteries Note: Combined total of consumer capacity procur ed via DGP, generat or capacity under the Group ’ s supply - demand management, and grid - scale battery capacity . Figures are based on preliminary trading data and may be revised. Amounts below 1 MW are rounded down down and may not match totals or previously disclosed data .
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 12 Financial Highlights ｜ SG&A Expenses and Headcount Adjusted SG&A expenses *1 rose 37 . 1 % YoY, mainly due to higher personnel expenses from new hiring . Headcount increased 27.8% YoY (+22), mainly for front - line staff, as hiring continued to support growth. Adjusted SG&A expenses *1 Headcount (excl. directors and temporary staff) 14 17 18 18 19 19 20 19 6 6 6 7 8 8 9 11 19 19 20 22 19 21 21 24 21 23 26 32 38 40 43 47 60 65 70 79 84 88 93 101 +27.8% 200 217 272 317 284 279 312 430 164 194 156 313 370 325 337 435 364 412 429 631 655 605 649 865 + 37 .1% Note: Consolidated financial statements are applied from FYE 25/7. The data is based on preliminary transaction information a nd may be subject to revision. Figures under JPY 1 million are rounded down, which may result in discrepancies with previously d isc losed data. *1 Figures differ from previously disclosed amounts due to the quarterly allocation of size - based business tax and regulatory comp liance costs to Other SG&A expenses. Personnel expenses Other SG&A expenses Front (sales) Middle Engineers Planning & admin Q2 Q3 Q4 Q2 Q3 Q4 Q2 Q3 Q4 Q2 Q3 Q4 FYE25/7 Q 1 FYE26/7 Q 1 FYE25/7 Q 1 FYE26/7 Q1 （ JPY million ） （ Employees ）
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 13 Balance Sheet | Agile F inanc ing Structure for Growth Note: Notice on the conclusion of a syndicated commitment line agreement (increased limit) https://ssl4.eir - parts.net/doc/350A/tdnet/2855983/00.pdf Notice on borrowings https://ssl4.eir - parts.net/doc/350A/tdnet/2847875/00.pdf Diversified fi nancin g to maintain financial soundness while covering daily working capital and battery storage investment . 66 ％ 53 ％ Total assets FYE 25/7 JPY 17.8 B FYE 26/7 JPY 30.8 B FYE26/7 FYE25/7 Liabilities to total assets Background for borrowing needs Measures with financial institutions ◼ Surge in JEPX prices: Middle East tensions lifted international fuel prices, pushing up wholesale power prices and increasing other accounts receivable ◼ Preparation for the JPY 10 B grid - scale battery storage investment (medium - term management plan through FYE 28/7) ◼ Expansion of commitment line limit JPY 10.20 B → JPY 16.35 B ◼ Planned borrowings for batteries Over JPY 4.3 B * Counterparty: JA Mitsui Leasing (and several other institutions) Syndicated commitment line • Credit limit: JPY 5.6 B → JPY 11.75 B • Arranger: Mizuho Bank (Participating: Resona Bank, Aozora Bank, Shizuoka Bank, The Bank of Fukuoka, The Minato Bank, Daiko Bank , The Yamanashi Chuo Bank, The Gunma Bank ) Bilateral commitment line & overdraft • Credit limit: JPY 4.6 B • Counterparties: Sumitomo Mitsui Banking Corp., Shoko Chukin Bank, Tokyo Star Bank
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2. Business Progress
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 15 Business Overview *1 DIGITAL GRID ASSET MANAGEMENT Corporation, a consolidated subsidiary of the Company The DIGITAL GRID Group pursues growth via four segments : Power Platform, R E Platform and AS Business , built around the Digital Grid Platform (DGP) ; plus Other, cover ing new businesses . Power Platform RE Platform Other ⚫ Electricity transaction via DGP (excl. renewables) ⚫ Renewable energy (RE) trading via DGP Core business driving overall Group growth Growth - phase business expanding RE trading Investment area for battery AS expansion ⚫ Development and operation of owned battery storage sites by DGAM *1 , etc. Power Platform RE Platform AS Business 82.7% FYE 26/7 sales mix 10.0% FYE 26/7 sales mix AS Business ⚫ Aggregation services (AS) for grid - scale batteries via DGP, etc. Other 6.9% FYE 26/7 sales mix - 0.4% FYE 26/7 sales mix Investment area positioned as a new revenue pillar
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 16 1,061 2,021 2,897 3,881 719 842 1,458 2,002 0 2,000 4,000 6,000 8,000 Quarterly Results by Main Segment (Cumulative) Note: Consolidated financial statements are applied from FYE 25/7. Note that segment profit above excludes adjustments such a s h ead - office expenses. Other includes the decarbonization education business, the asset management business, and segments not incl uded in reportable segments. Figures under JPY 1 million are rounded down, which may result in discrepancies with previously disclosed data. *1 This metric has been disclosed since the current fiscal year. Historical figures are reference values calculated retroactivel y u sing the same definition and are not audited financial figures. All segments grew in net sales QoQ: Power Platform +35. 1 %, RE Platform +44.2%, AS business +107.6% . S egment margins stayed strong, above 50% in the second half for every business . （ JPY million ） FYE26/7 Q 1 Q2 Q3 Q4 1,780 2,864 4,357 5,884 +35.1% 145 272 434 632 52 69 58 78 0 200 400 600 800 1,000 FYE26/7 Q 1 Q2 Q3 Q4 199 343 493 711 +44.2% Power Platform RE Platform AS Business 16 104 235 489 0 200 400 600 800 1,000 FYE26/7 Q 1 Q2 Q3 Q4 +107.6% 0 20 40 60 80 69.3% 64.4% 65.6% 59.5% 0 20 40 60 80 60.0% 54.5% 51.4% 52.0% Power Platform RE Platform AS Business Other 0 20 40 60 80 27.4% 53.5% 57.9% Operating M argin Net Sa les （ JPY million ） （ JPY million ） DGP Fee Revenue Non - DGP Fee Revenue DGP Fee Revenue Non - DGP Fee Revenue AS Business Revenue
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 17 Revenue Sustainability *1 Recurring revenue represents the combined revenue from DGP fees (Power PF and RE PF) and the AS business. *2 Monthly average churn of contracted capacity = cancelled contracted capacity in the month / (contracted capacity in the prior mo nth + new contracted capacity in the month); average of monthly churn from August 2025 to July 2026 * Note: The data is based on preliminary transaction information and may be subject to revision. DIGITAL GRID has a highly recurring business model centered on long - term and multi - year contracts . Churn in the Power Platform business improved, with recurring revenue * 1 account ing for 70.3% of net sales . Contract C ontinuity by S egment Recurring R evenue Ratio 70.3% Recurring Revenue Other Revenue Power Platform RE Platform AS Business Monthly average churn *2 improved to 1.64% (vs. 2.90% in FYE 25/7) Mostly ~20 - year long - term contracts with few cancellations since launch Multi - year contracts as the standard for contract renewals Power Platform RE Platform AS Business Other
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 18 Early stage of market - linked plans Even after electricity - refugee customers declined, steady expansion continued on cost advantages JEPX price surge Took on customers of retailers that exited the market, expanding transaction volume Transaction Volume and Contracted Capacity *Note: The data is based on preliminary transaction information and may be subject to revision. Contracted capacity reached 871 MW at year - end (+17% YoY), driven by April switching demand. New April contracts added only four months of revenue in FYE 26/7; larger contributions due in FYE 27/7. Market - linked plans take hold 0 50 100 150 200 250 300 0 200 400 600 800 1,000 Oct Nov Dec 2023 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2025 Jan Feb Mar Apr May Jun 742 Jul Aug Sep Oct (MW) Dec 2026 Jan Feb Mar Apr May Nov 871 Jul GWh 2022 Aug Sep Jun +17% Transaction volume (GWh) Contracted capacity (MW) Power Platform RE Platform AS Business Other FYE26/7 FYE25/7 FYE23/7 FYE22/7
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 19 755 890 195 60 733 736 144 141 Feb 2026 New (Mar - May 2026) Churned (Mar - May 2026) May 2026 Feb 2025 New (Mar - May 2025) Churned (Mar - May 2025) May 2025 Contracted Capacity Growth with Stronger Sales Activities In the renewal season spanning March through May , new capacity rose YoY , while churned capacity more than halved. Stronger sales activities lifted contracted capacity 21 % YoY to 8 90 MW (end - May) . Power Platform RE Platform AS Business Other March – May FYE 26/7 March – May FYE 25/7 Churned capacity - 81 MW YoY New capacity + 51 MW YoY Note: New capacity includes increases in contracted capacity for existing contracts （ MW ）
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 20 Initiatives for Growth Power PF is entering a new growth stage, balancing scale expansion with revenue quality . Initiatives across three strategic pillars: customer acquisition, business foundation, and revenue growth . S ustainable growth in the Power Platform business Contracted capacity (kW) expansion × quality of earnings 3. S calability (digitizing the foundations of trading) System integration with partners / S impler pre - sales steps / U nified deal data 1. N ew Customer Acquisition Target markets × multi - layered channels Strengthening outbound sales 2. Churn Reduction Differentiation via highly customizable products Industry - specific seminars and trade shows Partner network expansion Ent e r ing the corporate low - voltage segment Expansion of h edge products (wholesale, futures) Promoting competitive products (short - term PPAs, etc.) Higher engagement through more customer touchpoints Expansion of power trading partners, incl. global traders Initiative 1 (s ee next page ) Power Platform RE Platform AS Business Other Initiative 2 (s ee next page )
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 21 Initiatives for Sustainable Growth Currently i mplement ing a range of initiatives to drive sustainable growth , such as strengthening outbound sales and expan sion of hedg e products , which help acquire new customers and improve retention . Power Platform RE Platform AS Business Other Str engthening outbound sales • Established a call center in July 2026 after a two - month pilot , aimed at increasing the customer base • A team of up to 27 salespeople continuously g enerate s leads via outbound calls, while containing fixed costs . • Rising hedging needs amid Middle East tensions resulted in an increase in contracts with partly fixed power prices. • Tailored deals with partly fixed prices reached 19% of total contracted capacity, capturing summer hedging demand . 0 10 20 30 0 100 200 300 ( MW ) (%) 80 FYE26/7 Q 1 95 Q2 107 Q3 19% 162 Q4 Share of contracts with partly fixed prices Contracts with partly fixed prices [Dec 2025] ⚫ P rocurement using EEX power futures market for Takata Pharmaceutical [Jan 2026] ⚫ Supplying FY2026 power for the Japanese Red Cross Medical Center via the TOCOM power futures market [Mar 2026] ⚫ Supplying part of Akita City General Hospital ’s power at a fixed price from April 2026, combined with market - priced supply to curb price volatility [Jun 2026] ⚫ Supplying part of Niigata Transport FY2026 power at a fixed price Initiative 1 Expansion of hedge products (wholesale, futures) Initiative 2
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 22 Products and Services for Diverse Renewable Energy Needs Econohashi enables effortless renewable energy procurement ; RE Bridge matches generators and consumers seeking PPAs ; and DGP generation forecasting at site level benefits both generators and consumers. Step 1: PPA lead generation RE generators gain access to a wide range of consumers Step 2: Efficient PPA sales A matching platform dedicated to corporate PPAs Market check, matching, contract negotiation * After matching is finalized, transactions shift to the DGP platform. Register sites FIT non - fossil certificates procured from the market for consumers JEPX (Japan Electric Power Exchange) Consumers Proxy procurement Non - fossil certificates ¥ ¥ Step 3: Diverse PPA deals Supports trading between RE generators and consumers Search sites Generator A Generator B Generator C Consumer A Consumer B Consumer C ... ... Consumers procure power aligned with their risk tolerance and renewable energy strategy Generators Generators Power Platform RE Platform AS Business Other - Proxy procurement of non - fossil certificates -
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 23 FIT Non - Fossil Certificate Volume Trends * Note: The data is based on preliminary transaction information and may be subject to revision. Econohashi membership and certificate volume keep growing. Adoption is growing among companies that treat 2030 as their interim renewables target year. 53 72 90 102 106 121 139 150 160 172 195 205 215 223 164 225 304 533 713 909 1,014 1,164 1,903 2,040 2,343 2,485 3,263 0 500 1,000 1,500 2,000 2,500 3,000 3,500 0 50 100 150 200 250 300 350 ( Members ) (GWh) FYE23/7 Q 1 Q2 Q3 Q4 FYE24/7 Q 1 Q2 Q3 Q4 1,439 FYE25/7 Q 1 1,569 Q2 Q3 Q4 FYE26/7 Q 1 Q2 2,763 Q3 Q4 180 190 +60% Power Platform RE Platform AS Business Other Members FIT non - fossil certificate volume
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 24 Corporate PPA Matching Trend s Note: The data is based on preliminary transaction information and may be subject to revision. Figures under 1 MW are rounded do wn and may not match previously disclosed data. * 1 Company research * 2 Matching event periods: 1st: Sep 25 - Oct 20, 2023; 2nd: Mar 4 - 29, 2024 、 3rd: Jul 8 - Aug 9, 2024; 4th: Nov 18 - Dec 20, 2024; 5th: May 7 - Jun 27, 2025; 6th: Oct 14 - Nov 14, 2025; 7th: Feb 9 - Mar 16, 2026; 8th: Jun 15 - Jul 10, 2026 RE Bridge, the platform matching generators and consumers, keeps gaining members . A new function allows generators to approach consumers, reversing the previous flow and improving usability. Power Platform RE Platform AS Business Other 24 38 57 98 116 141 151 11 27 39 59 73 96 120 0 500 1,000 1,500 2,000 2,500 0 50 100 150 200 250 300 18 1st 21 2nd 3rd 4th 5th 6th 7th 8th 29 45 65 96 157 189 237 271 Consumers Generators Registered capacity (right) RE Bridge members and registered capacity New RE Bridge functions ( No. of companies ) ( MW ) Generators Consumers Examples of requirements • Kanto/Chubu • 10MW ～ • 10+ years • ¥X/kWh ◼ By enabling generators to understand off - taker needs before making propos al , we reduce the off - taker burden of finding generators ◼ Previously, off - takers could only apply for generator - initiated meetings. Adding off - taker - initiated actions helps increase matching
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 25 Trends in Contracted Capacity of Renewable Energy Note: The data is based on preliminary transaction information and may be subject to revision. Figures under 1 MW are rounded do wn and may not match previously disclosed data. *1 Battery storage capacity disclosed in Q2 and Q3 FYE July 2026 is included in VPPA capacity. *2 Based on Toshiba Electronic Devices & Storage Corporation’s research as of December 2025, in terms of power output from fl oat ing solar power facilities in western Japan. Contacted capacity for renewable energy reached 393 MW , c apturing rising demand for non - FIT balancing . Centered on long - term contracts , large projects starting in FYE27/7 are expected to accumulate further . 0 50 100 150 200 250 300 350 400 450 FYE23/7 1Q Q2 Q3 Q4 FYE24/7 Q 1 Q2 Q3 Q4 FYE25/7 Q 1 Q2 Q3 Q4 FYE26/7 Q 1 Q2 Q3 Q4 Physical PPA Virtual PPA *1 (MW) Balancing Self - consignment 1 11 14 19 30 68 111 143 161 215 249 281 330 354 377 393 RE wholesale [Sep 2022] ⚫ Launched a Virtual PPA (GPA) utilizing the FIP scheme, with Sony Group Corporation taking on the first project. [Jul 2023] ⚫ Launched "RE Bridge", a matching platform for corporate PPAs. ⚫ Signed a balancing service agreement with KDS, a Kansai Electric Power affiliate, for newly built solar plants in the Tokyo and Chubu areas. [Oct 2025] ⚫ Provided a large - scale FIP based Virtual PPA (GPA) to Canadian Solar Project K.K. [Aug 2024] ⚫ Supported Prologis with offsite self - consignment of solar power to expand renewables at logistics facilities 【 Dec 25 】 ⚫ Kuni Shimoike Mega Float LLC and Japan Semiconductor Corporation signed a Virtual PPA (GPA) utilizing one of the largest floating solar power plants in western Japan *2 . Power Platform RE Platform AS Business Other 【 Jul 26 】 ⚫ Signed a geothermal PPA, a first for DIGITAL GRID, supplying environmental value from a power plant operated by Furusato Netsuden Co., Ltd. to NTT Anode Energy Corporation and other companies.
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 26 Expan sion in Renewable Energy Balancing Coverage *1 Excluding pumped storage Development and procurement centered on solar, with the portfolio extended to geothermal in June 2026 . Widening renewable energy coverage strengthens customer responsiveness and competitiveness . In service TBD In service In service Planned In service Power sources covered by renewable energy balancing Generation forecast ing Commercial (corporate) Non - commercial (residential) Onshore Offshore Planned Genera tors • Most widespread renewable energy in Japan • Generate s only during daytime • Growing driven by corporate PPAs and self - consumption • Offshore wind growing fast globally • Generates around the clock • Large swings in output • Usable as baseload power • Japan has one of the world's largest resources • Development is time - consuming • Generates from natural water flowing into rivers and dams • Long asset life allows long - term operation • Fueled by wood chips and food waste • Output is controllable, similar to thermal operation Plan preparation Plan submission Forecast revision Settlement with TSOs Power Platform RE Platform AS Business Other Solar Wind Geothermal Hydro *1 Biomass
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 27 Growing Demand for Grid - Scale Batteries Higher solar output lowers daytime prices and raises evening prices, expanding arbitrage opportunities for grid - scale batteries . Renewable energy growth is expected to drive long - term demand for batteries as a balancing resource. * 1 ： Prepared by the Company from annual arithmetic averages of JEPX prices for each 30 - minute period (48 per day) * 2 ： Prepared by the Company from METI, Sector - Specific Investment Strategy for GX (Storage Batteries), Dec 22, 2023, and ANRE, Respo nse Based on the Policy Direction for Distributed Energy Resources, Apr 15, 2026 Kyushu area: renewable output curtailment by hour *1 Medium - to - long - term outlook for grid - scale batteries *2 Sep 2025 2030 2040 500MW 4,700~ 7,900MW 20,000~ 33,000MW 40 - 66x Midday surplus is the issue Need to a bsorb surplus power 0 5,000 10,000 15,000 20,000 25,000 30,000 00:00 01:00 02:00 03:00 04:00 05:00 06:00 07:00 08:00 09:00 10:00 11:00 12:00 13:00 14:00 15:00 16:00 17:00 18:00 19:00 20:00 21:00 22:00 23:00 FY2018 Curtailment volume(10k kW) FY2025 Curtailment volume(10k kW) Output c urtailment volume and duration are both expanding 2018 26 days 2025 129 days approx. 5x Number of days of curtailment Power Platform RE Platform AS Business Other
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 28 Battery Business ｜ Business Model DIGITAL GRID aggregates grid - scale batteries owned by its subsidiary DGAM *1 and external battery owners under AS . DIGITAL GRID receives AS service fees, while DGAM captures market revenue as a battery owner. * 1 DIGITAL GRID ASSET MANAGEMENT, a consolidated subsidiary of the Company ◼ Charge during low - price periods and discharge during high - price periods Spot Market JEPX (kWh) Outsource optimization ◼ Provide stored electricity as balancing capacity and receive contracted payments ◼ Submit annual bids for capacity securing auctions and receive capacity payments Owned by DGAM AM business External owners External Outsource optimization Flexibility Market EPRX ( ΔkW ) Capacity Market OCCTO (kW) Optimize ¥ ¥ AS fees AS fees AS Business Power Platform RE Platform AS Business Other
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 29 AS Business ｜ Grid - Scale Battery Capacity AS capacity *1 increased by 63 MW QoQ to 165 MW; EPRX (Flexibility Market) volume topped 100 MW . Revenue growth is accelerating , with net sales expected to quadruple YoY in FYE 27/7. *1 Counted on a commercial operation date basis. Capacity and start timing may change depending on project development. The d ata is based on preliminary transaction information and may be subject to revision. 0 50 100 150 200 250 300 350 (MW) FYE25/7 Q 2 Q3 Q4 FYE26/7 Q 1 Q2 Q3 Q4 … FYE28/7 (plan) 4 6 10 24 62 102 60 165 100 343 AS capacity EPRX volume AS Projects in Operation NC Iwata Mitsuke (Iwata, Shizuoka) Kasugai Nishio (Kasugai, Aichi) NC Hashima Ajika (Hashima, Gifu) Power Platform RE Platform AS Business Other
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 30 AS Business ｜ New Service Launches Trade matching opened access to battery projects from development to operation . B roadening aggregation coverage , expanding h igh - voltage operating platform into low - voltage . Background: ◼ Funding needs and strategy changes increase sales of battery storage sites. ◼ Project data and evaluation criteria are not standardized, making comparisons difficult. Background: ◼ From March 2026, balancing market participation for low - voltage batteries is allowed under certain conditions. ◼ Low - voltage batteries cannot join the market independently, so multiple sites must be operated in a bulk. Launched Grid - Scale Battery Trade Matching Service Launched Aggregation Coverage for Low - Voltage Batteries Operat ion Trad ing Build a transparent trading platform to support the growth of the power balancing market Leverage operational expertise to support market participation for low - voltage grid - scale batteries Connect sellers and buyers of storage sites and supports comparison and negotiation online Extend aggregation services from high - voltage to low - voltage batteries Low - voltage grid - scale battery Low - voltage g rid - scale battery ... Aggregation: DG Market O peration s Power Platform RE Platform AS Business Other
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 31 DGAM ｜ Project Portfolio Connected TBD （ approved ） Legend Power Platform RE Platform AS Business Other Investment has been approved for 18 projects in high and extra - high voltage (total capacity: 36.3 MW) . 30.2 MW is scheduled to come online by FYE 27/7, with more focus on extra - high - voltage projects ahead. End of FYE 27/7 30.2 MW End of FYE 26/7 4.2 MW End of FYE 28/7 32.2 MW End of FYE 29/7 36.3 MW Cumulative C apacity
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3. FY E 27/7 Full - Year Forecast and Medium - Term Management Plan
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 33 FYE 27/7 Full - Year Forecast Net sales are expected to grow + 12% YoY . A djusted EBITDA *1 is introduced as a new KPI, as investment in company - owned battery storage lifts depreciation. *1 Adjusted EBITDA = Operating profit + Depreciation and Amortization + Share - based compensation expenses 1,210 1,691 3,515 6,153 7,113 7,967 24 438 1,547 2,742 3,017 2,865 3,047 3,185 FYE22/7 FYE23/7 FYE24/7 FYE25/7 FYE26/7 FYE27/7 +12% Net sales Operating profit Adjusted EBITDA KPI Full - year f orecast （ JPY million ） Net sales 7,967 Power Platform 4,812 RE Platform 816 AS Business 2,043 Other 294 Operating profit 2,865 Operating profit margin 36.0 % Adjusted EBITDA 3,185 Adj. EBITDA margin 40.0 % Ordinary profit 2,394 Net income 1,673 （ JPY million ）
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 34 Progress on Previously Announced Medium - Term Plan JPY 10 B battery investment target on track to be met ahead of schedule. *1 Disclosed September 11, 2025 KPI Previous T arget * 1 (FYE 26/7 through FYE 28/7) FYE 26/7 ( A ctual s ) ROE 20%+ Achieved (21.7%) Operating Profit M argin 40%+ Achieved (42.4%) Total Contracted Capacity * FYE 26/7 through FYE 28/7 CAGR 30%+ Achieved (+38.3% YoY) Battery I nvestment JPY 10 B over three years (FYE 26/7 through FYE 28/7) Achieved ( Nearly completed ) * investment approved *Total contracted capacity (kW) has replaced total electricity transaction volume (kWh) as the key KPI for business scale, as tr ansaction volume is not suitable for evaluating battery - related businesses.
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 35 DGAM ｜ Battery Capacity and Progress on JPY 10 B Investment I nvestment decisions, including extra - high - voltage, on track to meet the medium - term target . High - voltage investment is largely complete; we plan to shift the target to extra - high - voltage projects while monitoring the market. 0 10 20 30 40 (MW) FYE25/7 Q 2 Q3 Q4 FYE26/7 Q 1 Q2 14.0 2.2 Q3 28.0 4.2 Q4 0.2 0.2 16.2 32.2 DGAM Owned Capacity Approved Investment Investment approved Connected Owned by DGAM Gotemba (Gotemba, Shizuoka) 0.2MW (ownership stake: 10.75%) Ogaki Kamiishizu I chinose (Ogaki, Gifu) 2.0MW Planned 10 B Nearly Completed
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 36 Medium - Term Outlook We aim to reach consolidated net sales above JPY 10 B and adjusted EBITDA *1 above JPY 4 B in FYE 29/7. With the battery business contributing in full , the DG Group enters a new growth phase. 1,210 1,691 3,515 6,153 7,113 7,967 24 438 1,547 2,742 3,017 2,865 3,047 3,185 FYE22/7 FYE23/7 FYE24/7 FYE25/7 FYE26/7 FYE27/7 ... FYE29/7 Net sales Operating profit Adjusted EBITDA Consolidated net sales over JPY 10 B （ JPY million ） FYE 22/7 - FYE 26/7 Business e xpansion centered on DGP ➢ Limited fixed assets and depreciation; asset - light expansion ➢ Operating profit and EBITDA move largely in line FYE 27/7 - FYE 29/7 Growth driven by DGP and grid - scale battery ownership and operation ➢ Growth involving investment in and ownership of batteries ➢ Fixed assets and depreciation increase ➢ The gap between operating profit and EBITDA widens Adjusted EBITDA over JPY 4 B *1 Adjusted EBITDA = operating profit + depreciation and amortization + share - based compensation FYE2 8 /7
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4. Enhance d Information Disclosure and Communication
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 38 To promote dialogue with shareholders and investors, we provide a data book covering financial highlights, financial data, and non - financial KPIs in an accessible format. Enhancing IR Content Data Book Release IR E - mail Service (JP only) Research Coverage Initiated FAQ (Notion) Coverage reports on DIGITAL GRID by ENVALITH are available in three languages. *JP / EN / CN (Traditional and Simplified) Receive disclosure and other updates in a timely manner. Register here. Past questions and answers are compiled and published on Notion. Contents (Excel) • Consolidated financial KPIs • Consolidated balance sheet • Consolidated income statement • Consolidated statement of cash flows • Segment information • Non - financial KPIs • RE Bridge results Key Graphs (Ctrl or Command)+ click (Ctrl or Command)+ click (Ctrl or Command)+ click (Ctrl or Command)+ click
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 39 Our official YouTube channel brings our business and culture closer to viewers. It features our management and employees, plus behind - the - scenes coverage of the battery business. DIGITAL GRID Group Up Close (Japanese Only) ● Videos ● Short Videos
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© DIGITAL GRID Corporation All Rights Reserved. （ TSE.G 350A ） 40 Disclaimer • This document has been prepared by the Company solely for the purpose of providing information about the Company and does not constitute a solicitation to acquire securities or an offer to sell securities in Japan, the United States, or any other juri sdi ction. • The information contained in this document is based on current economic, regulatory, market, and other conditions and is subj ect to change without prior notice. • No person may disclose or use this document or its contents for any other purpose without the Company’s prior written consent . • This document contains forward - looking statements, including expressions such as “believe,” “expect,” “plan,” “strategy,” “antic ipate,” “forecast,” “project,” or “may,” and other similar expressions describing future business activities, performance, events, or co nditions. These forward - looking statements are based on management’s judgment under certain assumptions using information currently available an d are subject to various risks and uncertainties. Actual results may differ materially from those expressed or implied by such forw ard - looking statements. Therefore, please do not place undue reliance on them. • Reproduction of this document is prohibited, and it may not be forwarded or redistributed to others by any means. In providin g t his document, the Company assumes no obligation to provide access to additional information, update the information contained herein, or co rre ct any information that later becomes inaccurate. • Information concerning companies other than the Company and third - party information contained in this document has been cited fr om publicly available information and other sources. The Company has not independently verified the accuracy or appropriateness of such data or indicators and assumes no responsibility for them. • This document includes financial information based on historical financial statements or financial documents that have not be en audited by an independent certified public accountant or audit firm, as well as management figures and adjusted figures not based on fin anc ial statements or documents. • Going forward, this document is scheduled to be updated at the timing of the full - year financial results announcement.