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TOKYO OHKA KOGYO CO . , LTD . Business Results -The 1st half of Fiscal Year ending Dec. 2026- tok Aug. 6 , 2026 TOKYO OHKA KOGYO CO . , LTD . © TOKYO OHKA KOGYO CO . , LTD .
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©TOKYO OHKA KOGYO CO.,LTD. Table of Contents 1. Summary for the 1st Half of FY2026 p.2 (2026.1-2026.6) 2. Consolidated Business Results for the 1st Half of FY2026 p.3 (2026.1-2026.6) 3. Consolidated Performance Forecasts for FY2026 p.7 (2026.1-2026.12) 4. Growth strategies for enhancing corporate value p.15 5. Appendix p.23 1
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©TOKYO OHKA KOGYO CO.,LTD. Summary for 1H of FY2026 FY2026 1H Results FY2026 Consolidated Forecasts Shareholder Returns ● Net Sales were up 28.0 billion yen or 25.1% YoY to 139.6 billion yen. Both Electronic functional materials and High-purity chemicals recorded significant sales growth, driven by expanding demand for AI servers for data centers. ● Operating income was up 9.0 billion yen or 45.4% YoY to 28.8 billion yen. Significantly increased due to increased sales and foreign exchange effects. ● Under the dividend policy targeting 4.0% of a consolidated dividend on equity ratio (DOE), the interim dividend was 40 yen. The annual dividend is forecasted to be 80 yen. ● Maintain the forecast of dividend growth for consecutive 9 years. 2 ● Assumptions Changed exchange rate for forecast of 2nd half of 2026. ¥150.0/$ (2026/12) ⇒ ¥155.0/$ (2026/12 2nd half) ● Expect significant YoY growth in both revenue and income based on the current market situation and the usage status of our products. Net sales: 291.0 billion yen (up 22.8%), Operating income: 60.6 billion yen (up 27.9%). Expect to reach a record high for the 3rd consecutive year. Full-year operating income and EBITDA are expected to exceed the targets of tok Medium-Term Plan 2027. ● Revised upward the full-year earnings forecasts (July 30, 2026).
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©TOKYO OHKA KOGYO CO.,LTD. Summary(FY2026 1H) Change (%) Initial Forecast Progress(%) Net sales 111,623 139,668 +28,045 +25.1 125,000 111.7 Electronic functional materials 58,149 74,155 +16,005 +27.5 66,800 111.0 High-purity chemicals 51,985 63,008 +11,023 +21.2 55,900 112.7 Other 1,488 2,504 +1,016 +68.3 2,300 108.9 Operating income 19,846 28,854 +9,007 +45.4 24,300 118.7 Ordinary income 20,381 30,272 +9,890 +48.5 25,500 118.7 Profit attributable to owners of parent 13,619 20,409 +6,789 +49.9 16,000 127.6 EBITDA 23,994 34,308 +10,314 +43.0 29,800 115.1 ◼ Net sales: Up 25.1% YoY due to expanding demand for AI servers for data centers. ◼ Operating income: Increased 45.4% YoY , driven by higher sales and foreign exchange effects, despite an increase in expenses. ◼ Profit attributable to owners of parent: Up 49.9% YoY due to increased operating income. (Millions of yen, %) FY2025 1H Average exchange rate（US$）: ¥147.0／$（FY2025 1H）⇒ ¥157.4／$（FY2026 1H） FY2026 1H 3
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©TOKYO OHKA KOGYO CO.,LTD. Electronic Functional Materials Sales by Product Type Sales (Millions of yen) Advanced material (EUV/ArF resist) KrF resist Legacy material (g/i-line resist) ■ Materials for Semiconductor back-end processes (Resist for Package / MEMS material / WHS material) ■ Display / Other 1H YoY +27.5% 74,155 +35% +30% +15% +25% +15% ■ Photoresist for semiconductor front-end processes +30% Growth (YoY) 71％ 2025/1H 2026/1H 22％ 7％ 58,149 23％ 8％ 69％ 4
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©TOKYO OHKA KOGYO CO.,LTD. Breakdown of the Change in Operating Income Impact of exchange rate changes・ Price adjustment +¥1.0 billions 1st Half of FY2025 Result 1st Half of FY2026 Result Expenses Increase (¥7.3 billions) ¥28.8 billions ¥19.8 billions +¥9.0 billions 1st Half of FY2025 Result vs. 1st Half of FY2026 Result Impact of sales increases and product mix, etc. +¥15.3 billions 5
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©TOKYO OHKA KOGYO CO.,LTD. FY2025 1H FY2026 1H Change Non operating Expenses or Income +535 +1,418 ＋882 Interest and dividend income +563 +611 ＋47 Share of profit of investments accounted for using equity method ＋151 ＋265 +113 (Foreign exchange related losses/gains) Foreign exchange (Loss) gain (Loss) gain on valuation of derivatives (463) (167) (295) (100) (161) ＋60 ＋362 ＋6 ＋356 Subsidy income +396 +535 +138 Extraordinary Losses or Income +1,379 +1,256 (122) Gain on sale of non-current assets +9 +357 ＋347 Gain on sale of investment securities － +945 ＋945 Gain on receipt of contingent consideration +1,422 ― (1,422) Loss on retirement of non-current assets (53) (45) ＋7 (Millions of yen) 6 Non-operating Expenses or Income / Extraordinary Losses or Income
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©TOKYO OHKA KOGYO CO.,LTD. Consolidated Performance Forecasts for FY2026 (2026.1-2026.12)
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©TOKYO OHKA KOGYO CO.,LTD. Earnings Forecasts (Full-year) Change (%) Initial forecast Progress vs. initial forecast(%) Net Sales 237,029 291,000 +53,970 +22.8 261,000 +11.5 Electronic functional materials 124,700 155,000 +30,299 +24.3 140,000 +10.7 High-purity chemicals 109,400 131,000 +21,599 +19.7 116,000 +12.9 Others 2,928 5,000 +2,071 +70.7 5,000 - Operating income 47,386 60,600 +13,213 +27.9 52,200 +16.1 Ordinary income 49,274 63,000 +13,725 +27.9 53,800 +17.1 Profit attributable to owners of parent 33,345 42,600 +9,254 +27.8 35,000 +21.7 EBITDA 56,194 72,200 +16,005 +28.5 63,500 +13.7 ROE 15.6 17.3 +1.7 - 14.5 ＋2.8 ◼ Net sales: Forecast to increase 22.8% YoY due to an increase in demand related to generative AI, etc. ◼ Operating income: Forecast to increase 27.9% YoY due to an increase in sales, etc. despite increases in fixed costs and raw material costs. ◼ Profit attributable to owners of parent: Forecast to increase 27.8% YoY due to an increase in operating income. (Millions of yen, %) FY2025 FY2026 8 Average exchange rate (US$): ¥148.6／$ (FY2025) ⇒ ¥155.0／$ (FY2026)
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©TOKYO OHKA KOGYO CO.,LTD. tok Medium-Term Plan 2027 Achievement The FY2026 forecast shows operating income and EBITDA reaching the tok Medium-Term Plan 2027 final-year targets ahead of schedule 2027 target 58.0 47.3 60.6 FY2025 Results FY2026 Forecast 2027 target 72.0 56.1 72.2 FY2025 Results FY2026 Forecast EBITDAOperating income vs. target +0.2 billions of yen vs. target +2.6 billions of yen FY2024 Results FY2024 Results 41.433.0 237.0 291.0 FY2025 Results FY2026 Forecast Net sales FY2024 Results 200.9 9 (Billions of yen) 2027 target 295.0 (Billions of yen) (Billions of yen)
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©TOKYO OHKA KOGYO CO.,LTD. Electronic Functional Materials Sales Forecast by Product Type Sales (Millions of yen) FY YoY +24.3% 155,000 68％ 2025/12 2026/12 25％ 7％ 124,700 22％ 8％ 70％ 10 Advanced material (EUV/ArF resist) KrF resist Legacy material (g/i-line resist) ■ Materials for Semiconductor back-end processes (Resist for Package/ MEMS material / WHS material) ■ Display / Other +25% +20% +10% +45% +10% ■ Photoresist for semiconductor front-end processes +20% Growth (YoY) Forecast
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©TOKYO OHKA KOGYO CO.,LTD. Breakdown of the Change in Operating Income Impact of exchange rate changes・ Price adjustment +¥2.6 billions FY2025 Result FY2026 Forecast Expenses Increase (¥17.3 billions) ¥60.6 billions ¥45.3 billions +¥15.3 billions FY2025 Result vs. FY2026 Forecast Impact of sales increases and product mix, etc. +¥30.0 billions Increase factor due to inventory recognition of development- related materials, etc. ¥2.0billions 11
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©TOKYO OHKA KOGYO CO.,LTD. Sales Breakdown(Forecast) 51,360 56,155 58,149 66,550 74,155 80,844 42,475 49,001 51,985 57,415 63,008 67,991 900 1,073 1,488 1,439 2,504 2,495 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 2024/1H 2024/2H 2025/1H 2025/2H 2026/1H 2026/2H Electronic Functional Materials High purity chemicals Others 94,736 106,230 111,623 125,405 151,331 139,668 Net sales (Millions of yen) Forecast 12
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©TOKYO OHKA KOGYO CO.,LTD. FY2025 1H FY2026 1H Progress vs. initial forecast (%) FY2025 FY2026 Result Result Result Revised Forecast Change Initial Forecast Capital Investments 15,290 15,024 42.0 28,723 35,600 +6,876 35,800 Depreciation※ 4,147 5,454 48.2 8,807 11,600 +2,792 11,300 R&D 7,741 9,259 50.9 15,673 19,200 +3,526 18,200 (Millions of yen, %) Capital Investments/Depreciation/R&D 13 ※ Depreciation includes amortization of goodwill.
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©TOKYO OHKA KOGYO CO.,LTD. 2,743 3,999 5,003 6,431 6,386 6,469 6,797 7,599 8,391 9,58921 32 40 51 52 53 56 63 72 80 0 10 20 30 40 50 60 70 80 90 Shareholder Returns ＜Build sound and efficient management foundation to realize tok Vision 2030＞ FY 17/12 18/12 19/12 20/12 21/12 22/12 23/12 24/12 25/12 26/12 Forecast Interim dividend Year-end dividend Special dividend 10 10 12 20 20 20 20 21 10 20 31 26 27 27 28 29 34 35 37 40 40Forecast ■Dividend policy with a targeting DOE4.0% ■Implemented Flexibly share buyback Buy Back worth 9,999 million yen Buy Back worth 9,999 million yen TOK conducted a split 3 shares for 1 share on January 1, 2024 (effective date). *1 Prior to 2023/12, fractions less than one yen resulting from the stock split were rounded down. *2 Buyback period: From November 13, 2024 to January 30, 2025 Buy Back Total dividend amount Dividend per share*1 tok Med-Term Plan 2024 -Based on consolidated DOE of 4.0% - Guidelines on dividend policy tok Med-Term Plan 2021 -Based on consolidated DOE of 3.5% - tok Med-Term Plan 2018 - Consolidated payout - ratio of over 40% - tok Med-Term Plan 2027 -Based on consolidated DOE of 4.0% - Buy Back worth*2 5,498 million yen Buy Back worth*2 1,501 million yen （Yen） (million yen) 14
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©TOKYO OHKA KOGYO CO.,LTD. Growth Strategies for Enhancing Corporate Value
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©TOKYO OHKA KOGYO CO.,LTD. Rising demand for diverse semiconductor materials driven by advances in AI processing With the AI-driven Industrial Revolution, AI is expected to function as a social infrastructure AI-driven Industrial Revolution Micro-processing High-purity processing 3D stacking Key Drivers of Semiconductor Evolution ex. Physical AIex. Generative AI Cloud Processing CPU / GPU / NAND Data Centers On-site Processing (Real-time) Sensors / CPU / Power Semiconductors Edge 16
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©TOKYO OHKA KOGYO CO.,LTD. 2,010 2,700 3,260 4,220 5,100 5,800 6,160 2024 2025 2026 2027 2028 2029 2030 Source: Prepared based on Fuji Chimera Research Institute's Current Status and Future Outlook of Advanced and Key Semiconductor-Related Markets 2026. Interposer substrates Package substrates TSV Microbump GPU die HBM DRAM die Logic die EUV/ArF/KrF photoresists For DRAM EUV/ArF/KrF/i-Line photoresists For logic Packaging materials (bump formation resists) For micro-bump For interposer WHS materials（2.5D packaging） Packaging materials (RDL resists) KrF photoresists EUV/ArF/KrF/i Line photoresists For GPU die For 2.5D packaging WHS materials（2.5D packaging） Examples of TOK products use in GPU for Generative AI AI Server Market Growth (Thousands of Units) Photoresist for semiconductor front-end processes Materials for semiconductor back-end processes High-purity chemicals • Expanding Market Share in Leading- Edge Application • Development of Various Next- Generation EUV Photoresists and Expansion of Technology Portfolio • Strong Sales Growth in 2.5D Packaging and HBM Applications • Expansion of WHS Material Applications Across Devices • Sales Growth Driven by Customers’ New Fabs Expansions • Increasing Market Share in Advanced Process Technologies Expanding Opportunities for TOK Products Driven by AI Demand 17
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©TOKYO OHKA KOGYO CO.,LTD. WHS materials （Wafer Handling System） WHS Materials Application Flow Carrier Temporary Bonding Wet and Lithography Processes Carrier Wafer Debonding Wafer Grinding and Thinning WHS Materials Sales Growth (Forecast) Package substrates ＋700％ Adhesives Thinners 2024→2027 Interposer 2024 2025 2026 20272024 2025 2026 2027 WHS materials：Temporary Bonding Adhesives and Cleaning Thinners GPU for Generative AI 18 Cleaning TSV Micro-bump GPU Die HBM DRAM Die Logic Die
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©TOKYO OHKA KOGYO CO.,LTD. TOK/ Koriyama Plant (Japan) Purchased a site for a new plant Area：90,794㎡ （Koriyama Plant 165,764㎡） 2025 2030 EBITDA ¥56.1 billions Result 2026/1H 2026/2H 2027/1H TOK/Aso Plant, Aso Kumamoto Site(Japan) Constructed a new production plant for High-purity chemicals Investment amount：Approx. ¥13.0 billions TOKAM/ Incheon Plant (South Korea) Constructed a new inspection building Investment amount：Approx. ¥7.0 billions TOK/ Koriyama Plant (Japan) Construction underway on world's largest photoresist manufacturing building Investment amount：over ¥20.0 billions TOKAM/ Pyeongtaek Plant (South Korea) Construction underway on a High-purity chemical manufacturing building Investment amount：Approx. ¥12.0 billions EBITDA ¥72.2 billions Forecast 2026 Expanding Cash Generating Ability by Strengthening Manufacturing Capital Estimated EBITDA trends through 2030 EBITDA generated by existing facilities + other investments 19
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©TOKYO OHKA KOGYO CO.,LTD. Raw Material Procurement Risks Geopolitical Risks Expansion of Semiconductor Demand Strengthening the Business Foundation to Ensure a Stable Supply of High-Quality Products Amid Rising Geopolitical and Other Uncertainties External Environment & Risks Digitalization Demand Forecast Raw Material Procurement Inventory Production Strengthening the Business Foundation for a Stable Supply of High-Quality Products Build solid management foundation 20
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©TOKYO OHKA KOGYO CO.,LTD. 1,726 1,750 1,816 1,950 1,877 1,997 2,132 9.71 12.78 14.94 18.95 16.21 20.74 26.36 5 10 15 20 25 30 0 500 1,000 1,500 2,000 2,500 2019 2020 2021 2022 2023 2024 2025 Number of consolidated employees EBITDA per Employee tok Med-Term Plan 2021 tok Med-Term Plan 2024 tok Med-Term Plan 2027 ※1 The decrease in 2023 was due to the reorganization of overseas consolidated subsidiaries, etc. ※1 Enhancing Earning Capabilities (Millions of yen) 21 Improved Productivity • Promoting automation in production processes • Stabilizing quality through the use of AI and digital initiatives • Developing digital human capital Investment in Human Capital • Extend the Employee Stockholding System to overseas local employees • Grant restricted stock incentives to employees worldwide. • Globalize the award system (TOK SHINKA AWARD) • Provide base salary increases of over 5% for five consecutive years (2022 to 2026） Improved Profitability • Expanding sales of high-value-added products • Capturing demand for advanced semiconductors Earning Capabilities per Employee Has Steadily Increased
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©TOKYO OHKA KOGYO CO.,LTD. In Integrated Report 2026, we showcase TOK’s initiatives to enhance corporate value, with a particular focus on investments in human capital, the driving force behind all of our activities, and communicate the Group’s long-term and sustainable value creation capabilities. Integrated Report | TOKYO OHKA KOGYO CO., LTD. Integrated Report 22 ● Dialogue Among Three Division Manager ―TOK’s Unique “Capital” and the “Trifecta” Customer-Oriented Strategies Driving Corporate Value Enhancement― ● Feature: Employee and External Expert Dialogue ―What Does It Mean to Be a Shareholder of TOK?― Our Work, Well-Being, and the Company’s Future ● Outside Director Dialogue ―Toward Further Enhancement of Corporate Value: Challenges and Strategic Actions― Highlights ＊Beginning with the 2026 edition, the report title year has been aligned with the publication year. Therefore, “Integrated Report 2025” has been omitted. ＊The above link is for the Japanese version of the Integrated Report. The English version is scheduled to be published in November 2026.
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©TOKYO OHKA KOGYO CO.,LTD. Appendix
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©TOKYO OHKA KOGYO CO.,LTD. As of June 30, 2026 vs. December 31, 2025 Current Assets 184,974 +12,200 Cash and deposits 70,794 (168) Notes and accounts receivable-trade 56,125 +7,479 Inventories 48,274 +4,267 Property, plant and equipment 119,868 +9,674 Intangible assets 3,884 +2,049 Investments and other assets 51,184 +694 Current Liabilities 64,140 +4,766 Notes and accounts payable 33,629 +4,085 Non-current Liabilities 34,787 +1,167 Total net assets 260,983 +18,684 Total liabilities and net assets 359,911 +24,618 （Millions of yen） Tools, furniture and fixtures Machinery, equipment and vehicles Construction in progress Land Investment securities Shares of subsidiaries and affiliates Long-term deposits Deferred tax assets Accounts payable-facilities Accounts payable-other Deposits received Advances received Deferred tax liabilities Long-term deferred revenue Long-term lease liabilities Retained earnings Valuation difference on available-for-sale securities Non-controlling interests Foreign currency translation adjustment ＋3,373 ＋1,405 (747) (344) +5,393 (3,909) (434) (234) (3,175) ＋2,069 ＋401 ＋381 +1,311 (314) ＋142 +15,662 ＋3,631 (1,575) ＋676 24 Main Breakdown Balance Sheets
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©TOKYO OHKA KOGYO CO.,LTD. （Millions of yen） 2025/6 2026/6 Cash flows from operating activities +15,843 +21,636 Profit before income taxes +21,761 ＋31,529 Depreciation +4,147 ＋5,341 Increase in trade receivables (1,310) (6,583) Increase in inventories (2,185) (4,069) Increase in trade payables +1,572 ＋3,447 Income taxes paid (6,149) (7,388) Cash flows from investing activities (11,603) (16,707) Cash flows from financing activities (2,578) (8,342) Effect of exchange rate change on cash and cash equivalents (1,596) ＋735 Net increase (decrease) in cash and cash equivalents +64 (2,678) Dividends paid Dividends paid to non-controlling interests Purchase of property, plant and equipment Proceeds from sale of investment securities (17,282) +1,210 25 Main Breakdown Cash Flows (4,432) (3,389)
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©TOKYO OHKA KOGYO CO.,LTD. Impact of exchange rate changes・ Price adjustment +¥1.0 billions FY2026 1Q Result FY2026 2Q Result Expenses Increase (¥4.1 billions) ¥13.7 billions ¥15.0 billions (¥1.3 billions) FY2026 1Q Result vs. FY2026 2Q Result Impact of sales increases and product mix, etc. +¥1.8 billions 26 Breakdown of the Change in Operating Income
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©TOKYO OHKA KOGYO CO.,LTD. www.tok.co.jp (Note) This presentation material contains forward-looking statements that describe future prospects of TOKYO OHKA KOGYO CO., LTD. (the Company) in terms of business planning, earnings and management strategies. Such statements are based on management’s judgement, derived from information available to it at the time such information was prepared. Readers are cautioned not to rely solely on these forward-looking statements, as actual results and strategies may differ substantially according to changes in the Company’s business environment.