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© 2025 FUSO CHEMICAL CO., LTD. FY03/2026 2nd Quarter Financial Results For Period from April 1,2025 to September 30,2025 November 12, 2025 Prime Market（4368） Tokyo Stock Exchange, Inc.
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© 2025 FUSO CHEMICAL CO., LTD. Table of Contents Financial Summary Results for 2nd Quarter FY03/2026 (period April 1, 2025 – September 30, 2025) Ⅰ. Segments Results Ⅱ. Life Science Electronic Materials & Functional Chemicals FY03/2026 Outlook (period April 1, 2025 – March 31, 2026)Ⅲ． Q＆AⅣ． 2
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© 2025 FUSO CHEMICAL CO., LTD. I. FY03/2026 1H Financial Summary 3 (period April 1, 2025 – September 30, 2025)
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© 2025 FUSO CHEMICAL CO., LTD. Consolidated Financial Results for FY03/2026 1H Net sales / Operating profit : record high for the half-year period 4 （unit：100 millions of yen） FY03/2025 YoY Budget YoY YoY ratio Net sales 377.0 347.5 ＋29.4 ＋8.5% ↗ 363.0 ＋14.0 ＋3.9% Operating profit 97.4 81.4 ＋16.0 ＋19.7% ↗ 79.0 ＋18.4 ＋23.4% Ordinary profit 98.0 79.4 ＋18.5 ＋23.4% ↗ 76.5 ＋21.5 ＋28.2% Profit attributable to owners of parent 68.7 56.0 ＋12.7 ＋22.7% ↗ 52.5 ＋16.2 ＋31.0% EBITDA 143.2 118.4 ＋24.8 ＋20.9% ↗ 127.0 ＋16.2 ＋12.8% Earnings per share ¥195.1 ¥159.0 +¥36.0 ＋22.6% ↗ ¥148.9 +¥46.2 ＋31.0% vs FY03/2025 Budget disclosed in May.2025 FY03/2026 YoY ratio
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© 2025 FUSO CHEMICAL CO., LTD. Sales & Profit by Segment versus previous year FY03/2025 1H 5 FY03/2025 1H change Net sales 177.8 186.6 △8.8 △4.7% ↘ Operating profit 25.1 27.4 △2.2 △8.2% ↘ Net sales 199.2 160.8 ＋38.3 ＋23.8% ↗ Operating profit 84.2 65.1 ＋19.0 ＋29.3% ↗ △11.9 △11.1 △0.8 97.4 81.4 ＋16.0 ＋19.7% ↗ (Adjustment) FY03/2026 1H vs Previous Half-Year (unit:100 millions of yen) Ratio ー Operating profit (consolidated) ▬Life Science ▬Electronic Materials & Functional Chemicals
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© 2025 FUSO CHEMICAL CO., LTD. FY03/2026 Quarterly Results 6 3/'26 3/'26 １Q change ratio ２Q change ratio Net sales 186.5 ＋12.2 ＋7.0% 190.4 ＋17.2 ＋9.9% Operating profit 46.9 ＋7.8 ＋20.0% 50.5 ＋8.1 ＋19.3% Ordinary profit 45.3 ＋2.4 ＋5.6% 52.7 ＋16.1 ＋44.2% Profit attributable to owners of parent 31.0 ＋2.2 ＋7.6% 37.7 ＋10.5 ＋38.6% EBITDA 68.9 ＋11.6 ＋20.4% 74.3 ＋13.1 ＋21.5% Earnings per share ¥88.0 ¥107.0 （unit： 100 ｍillions of yen） Q o Q Q o Q +¥6.2 +¥29.7
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© 2025 FUSO CHEMICAL CO., LTD. Quarterly Results Trends 7 128 175 136 174 186 123 178 134 173 190 144 172 159 176 161 158 158 170 557 684 589 695 plan 755 3/'22 3/'23 3/'24 3/'25 3/'26 Net sales ４Q ３Q ２Q １Q 34 47 32 39 46 31 49 24 42 50 38 51 26 44 47 42 28 36 150 189 110 162 plan 175 3/'22 3/'23 3/'24 3/'25 3/'26 Operating profit ４Q ３Q ２Q １Q (unit: 100 millions of yen)(unit: 100 millions of yen)
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© 2025 FUSO CHEMICAL CO., LTD. Net Sales by Segment 8 144 169 193 184 169 171 186 176 177 107 136 159 146 101 146 160 171 199 0 50 100 150 200 250 300 350 400 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 3/'22 3/'23 3/'24 3/'25 3/'26 (unit:100 millions of yen) Electronic Materials Life Science
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© 2025 FUSO CHEMICAL CO., LTD. Operating Profit by Segment 9 △6 △8 △9 △9 △10 △10 △11 △11 △11 20 28 33 40 32 23 27 25 25 50 65 71 62 33 42 65 66 84 Life Science profit ratio Electronic Materials profit ratio 0% 10% 20% 30% 40% 50% 60% △20 0 20 40 60 80 100 120 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 3/'22 3/'23 3/'24 3/'25 3/'26 （unit: millions of yen） Electronic Materials Life Science Adjustment
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© 2025 FUSO CHEMICAL CO., LTD. Net Profit Analysis FY03/2026 1H versus FY03/2025 1H 10 56.0 29.4 △1.5 △8.7 △3.1 2.5 △0.7 △5.1 68.7 (unit：100 millions of yen) 3/‘26 １H net profitincome taxesextraordinary profit or loss non-operating profit or loss selling, general and administrative expenses CGS (depreciation) CGS (other)net sales3/’25 1H net profit
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© 2025 FUSO CHEMICAL CO., LTD. Overseas Sales Growth 11 149 213 170 235 139 101 114 99 108 59 11 16 6 8 3 295 340 312 343 175 47.0% 50.3% 47.0% 50.6% 53.5% 0% 10% 20% 30% 40% 50% 0 100 200 300 400 500 600 700 800 3/'22 3/'23 3/'24 3/'25 3/'26 1H ratio of overseas sales Net sales Japan misc. North America Asia ratio of overseas sales (unit: 100 millions of yen) Japan 54.7% Asia 25.5% North America 18.5% Misc. 1.3% 3/’22 1H Japan 46.5% Asia 37.0% North America 15.7% Misc. 0.8% 3/’26 1H
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© 2025 FUSO CHEMICAL CO., LTD. Assets, Liabilities and Net Assets 12 744.4 743.4 670.5 701.0 0 200 400 600 800 1,000 1,200 1,400 1,600 3/'25 3/'26 1H Current assets Non-current assets (unit: 100 millions of yen) 1,040.4 1,097.8 189.6 169.4 184.8 177.1 0 200 400 600 800 1,000 1,200 1,400 1,600 3/'25 3/'26 1H Current liabilities Non-current liabilities Net assets 1,444.4 (unit: 100 millions of yen) （ ＋30)Current assets ＋21•Cash and deposits ＋12•Notes and accounts receivable - trade （ △01)Non-current assets △5•Buildings and structures △7 •Machinery, equipment and vehicles ＋14•Construction in progress △1•Deferred tax assets ( △07)Current liabilities +9 •Current portion of long-term borrowings △24•Accounts payable - facilities +8•Income taxes payable ( △20)Non-current liabilities △20•Long-term borrowings ( ＋57)Net assets +55•Retained earning +1 •Foreign currency translation adjustment 1,415.0 1,444.4 1,415.0 Half-year change Half-year change Half-year change Half-year change Half-year change
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© 2025 FUSO CHEMICAL CO., LTD. Consolidated Statements of Cash Flows 13 52 △ 86 △ 10 202 1 △ 150 188 270 145 △ 127 △ 11 297 115 △ 68 △ 24 315 (unit：100 millions of yen) 3/'26 1H 3/'25 1H 3/'24 1H 3/'23 １H 3/'26 1H 3/'25 1H 3/'24 1H 3/'23 １H 3/'26 1H 3/'25 1H 3/'24 1H 3/'23 １H 3/'26 1H 3/'25 1H 3/'24 1H 3/'23 １H (unit：100 millions of yen) Operating CF Investment CF Financial CF Cash and cash equivalents at end of period Financing activitiesInvesting activitiesOperating activities △11Repayments of long-term borrowings△64Purchase of property, plant and equipment＋97Profit before income taxes △13Dividends paid△3Purchase of intangible assets＋45Depreciation △12Decrease (increase) in trade receivables (unit：100 millions of yen)(unit：100 millions of yen)(unit：100 millions of yen)
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© 2025 FUSO CHEMICAL CO., LTD. Capital Investment/Depreciation/R&D Expenses 14 124.9 208.3 142.9 174.9 43.3 Capital Investment Depreciation (incl. goodwill) R&D Expenses 44.5 43.3 71.6 83.0 45.8 6.8 8.4 8.5 9.2 5.1 3/'26 1H 3/'253/'243/'233/'22 3/'26 1H 3/'253/'243/'233/'22 3/'26 1H 3/'253/'243/'233/'22 (unit：100 millions of yen) (unit：100 millions of yen) (unit：100 millions of yen)
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© 2025 FUSO CHEMICAL CO., LTD. Operating Profit and EBITDA 15 150.3 189.3 110.8 162.3 97.4 194.8 232.6 182.4 245.3 143.2 27% 28% 19% 23% 26% 35% 34% 31% 35% 38% 3/'22 3/'23 3/'24 3/'25 3/'26 1H operating profit EBITDA profit ratio EBITDA ratio Result 1H 81.4 Result 1H 118.4 (unit：100 millions of yen)
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© 2025 FUSO CHEMICAL CO., LTD. II. Segments Result Life Science 16
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© 2025 FUSO CHEMICAL CO., LTD. Business 17 Malic acid Citric acid Gluconic acid Fumaric acid Maleic anhydride Other acid ・High purity fruits acid ・Succinic acid, Lactic acid, Tartaric acid Vitamin C Food additive formulations Life Science Electronic Materials • Ultra high purity colloidal silica Functional Chemicals • High purity organo silica sol • Silica nano powder • Alkyl silicate Electronic Materials & Functional Chemicals
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© 2025 FUSO CHEMICAL CO., LTD. Life Science Overview 18 177.8186.6 3/'26 1H3/'25 1H Net sales 25.127.4 3/'26 1H3/'25 1H Operating profit (unit：100 millions of yen) Net sales positive/negative factor Increased sales volume、Price hike effectMalic acid（domestic）＋ Impact of 5% y-on-y appreciation of the yen (exports and overseas subsidiaries) Exchange rateー 20% price decline of malic acidExport Decreased in maleic anhydride and vitaminsSales volume Price adjustment due to market price declineVitamin C 10% price decline of gluconates in the U.S.Overseas subsidiaries Operating profit positive/negative factor Spread of price increases (from 2H of 2024)Malic acid（domestic）＋ 5% decreased in purchase costs due to yen appreciation Exchange rate Decline in benzene pricesRaw material Fumaric acid: Significant price adjustments to secure market share with major clients Price down－ Price decline of gluconates in the U.S.Overseas subsidiaries Greater impact of price revision than increase in volume Export Profit reduction at overseas subsidiaries due to yen appreciation Exchange rate (unit：100 millions of yen)
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© 2025 FUSO CHEMICAL CO., LTD. Focus approach 19 Ⅰ. Overseas business expansion Ⅱ. Securing domestic market share Ⅲ. New production system and efficiency Ⅳ. Expansion of the FFA business Malic acid Overseas subsidiaries Fruits acid Vitamin C Kashima Plant / Osaka Factory Strengthening sales development and global expansion
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© 2025 FUSO CHEMICAL CO., LTD. Ⅰ. Overseas business expansion _ Malic acid 20 • Increase volume by 25%(Y on Y) • Expand market share in Asia and sales volume • Strengthen sales to new market areas such as Egypt, Portugal, Nordic countries, and Mexico • Reduce costs through increased operational efficiency 1H FY3/’26 【Overseas sales by region】 FY3/’26 1H resultFY3/’26 plan • Expanding market share / Increase volume by 5% (Y on Y) • Underperformance against current plan • Acquired new customers in Portugal • Started efforts to improve hourly production output Enhancing global market competitiveness by reducing costs 1H 0 0.5 1 1.5 2 2.5 0 5 10 15 20 FY3/'21 FY3/'26 (times)(1,000t) export export plan(2H) price(FY2020=1.0) Asia Europe North/south America misc.
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© 2025 FUSO CHEMICAL CO., LTD. Ⅰ. Overseas business expansion _ subsidiary 21 Thailand • Products launch meeting customer needs • Active customers visit, participating in exhibitions, and information sharing • Expand FFA production lines China • Enhancing sales of organic acids • Fruit acid sales increase in the Vietnam • Sales expansion in functional products and coated fruit acids • Cooked rice formulations etc.：３products launched • 200 new business opportunities generated through exhibitions • Production line：Enhanced FFA production capacity by about 50% • Beverage application：Weak performance in major customers • Malic acid：Increase volume in 30% (Y on Y), in 10% versus plan • Beverage application：Strong performance of HELSHAS Zn (Zinc gluconate) FY3/’26 1H resultFY3/’26 plan USA • Utilize expanded capacity • Establish a stable manufacturing and supply system • Expand market share in the U.S., 3% increase in volume • Strengthen alliances with sales teams and customers • Started staggered operation using the new main fermentation tank • Reviewing capital investment plans (setting up a new crystallization tank) • Sales volume：Increase by 5% (Y on Y) • Focused sales efforts for agricultural applications PMP Fermentation Products, Inc. Qingdao Fuso Refining & Processing Co., Ltd. FUSO(THAILAND)CO., LTD.
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© 2025 FUSO CHEMICAL CO., LTD. Ⅱ. Securing domestic market share 22 FY3/’26 plan Malic acid Citric acid • Timely price revision and optimization of market share • Maximizing gross profit • Proactively developing new applications (ex. feed and pesticide use) • Increase in volume over 5% Y on Y • Successfully winning bid for major beverage company • Profit margins improvement: analyzing and understanding the competitive advantages of Fuso products for each customer FY3/’26 1H result • Price revision：Increase by 5％(Y on Y) • Improved gross profit： Increase in operating rate, lower raw material costs • Sales volume：Increase by 10%(Y on Y) • Sales volume： Increase by 5％(Y on Y) for major household items • Negotiating for the next bidding • Sales price：performing below plan Gluconic acid • 40% increase in sales volume of salts (copper, zinc) • Recovery in plating demand • Salt of gluconic acid(for heals food applications)： 30% increase in volume versus plan • Plating：Recovery • Decrease sales price due to decline in market prices 0.0 0.5 1.0 1.5 2.0 2020 2025 (plan) Citric acid 物量 下期計画 平均単価 1.0 1.1 1.2 1.3 1.4 1.5 2021 2025(1H) (times) Trends in malic acid gross profit margin（FY2021=1.0) (times) Volume Plan(2H) Price(Arv.)
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© 2025 FUSO CHEMICAL CO., LTD. Ⅱ. Securing domestic market share 23 FY3/’26 plan FY3/’26 1H result Vitamin C Fumaric acid • Stable supplement system establish to meet demand increase • Increase sales to main users and capture demand in other applications • Proposal promotion for general and medical pharmaceuticals use by leveraging resources • Volume for beverage applications：Decrease for major customers / Reduce volume by 5％ (Y on Y) • New customer acquisition：Received order for supplement applications • Major customers：Secured volume through significant price revision / Increase volume by 10% (Y on Y) • Developing overseas sales channels • Capturing market share : large customers for bath additives • Demand sluggish: paper manufacturing, unsaturated polyester, and paint 1 H 1 H 0.0 0.5 1.0 1.5 2020 2021 2022 2023 2024 2025 (times) Vitamin C sales volume 0.0 0.5 1.0 2020 2021 2022 2023 2024 2025 (times) Fumaric acid sales volume 1H 1H
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© 2025 FUSO CHEMICAL CO., LTD. • Detailed design completed by July 2025 • Start construction in November 2025 • Scheduled for completion in March 2027 • Set annual repair priorities • Promote DX by introducing a new maintenance system • Completed regular maintenance of maleic acid tank and repair of benzene tank • Completed upgrade of reboiler for maleic acid process cooling • 6 staffs temporarily transferred from the malic acid processing line • Rebuilding due to aging(Facility according to outdated seismic standards) • Making design：Scheduled for completion in Feb. 2027 • Current progress: 40% completion of the Malic acid facility &shipping bldg. (by the end of Sep.) • Planned completion：January 2026 Ⅲ. New production system and efficiency 24 Safety and environmental measures / Stable operations / Strengthened maintenance systems Kashima plant Osaka factory • Preparation for the construction of a new office building • Regular maintenance of maleic acid tanks and other equipment FY3/’26 1H resultFY3/’26 plan • Implementation of seismic reinforcement work • Addressing aging issues in organic acid facilities • Construction preparation of a new analysis building • Training multi-skilled workers
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© 2025 FUSO CHEMICAL CO., LTD. Ⅳ. Expansion of the FFA business 25 【China】 • Shelf life improver： Increase in adoption in prepared food applications • Phosphate-free water retention agent： Increase in adoption in seafood and meat processing applications 【Thailand】 • Shelf life improver： Increase in adoption in meat processing applications • Yield improvement agents： Increase volume in pet food applications • Adopted by 300 companies / Reduce volume by 5% (due to poor squid catch) • Good performance of shelf life improvers for prepared food applications • Strong sales of phosphate-free formulations for seafood and meat processing applications FY3/’26 1H resultFY3/’26 plan • Accelerating the adoption of new products • Coated fruits acid, Cooked rice formulations, Antioxidant preparations, Browning preventer • High Purity Citric Acid ”APPLICIOUS” completed in-house production Strengthening sales development Global Expansion • Coated fruits acid：Increase volume by 10% (Y on Y) • Cooked rice formulations： Significant reduction in volume due to rice shortage • “APPLICIOUS”：Scheduled to start operation in March 2026 Sales target for FY2026: 300 MT FFA : Formulation of Food Additives, Functional Food Material and Food Additive, Functional Fruits Acid • Adopted by 90 companies / Increase volume by 50% • Strong performance in meat processing applications due to product improvement • Significant increase volume in pet food applications
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© 2025 FUSO CHEMICAL CO., LTD. II. Segments Result Electronic Materials & Functional Chemicals 26
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© 2025 FUSO CHEMICAL CO., LTD. Business 27 Malic acid Citric acid Gluconic acid Fumaric acid Maleic anhydride Other acid ・High purity fruits acid ・Succinic acid, Lactic acid, Tartaric acid Vitamin C Food additive formulations Life Science Electronic Materials • Ultra high purity colloidal silica Functional Chemicals • High purity organo silica sol • Silica nano powder • Alkyl silicate Electronic Materials & Functional Chemicals
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© 2025 FUSO CHEMICAL CO., LTD. Electronic Materials Overview 28 Net sales positive/negative factor Increase by 20% (Y on Y), by 6％ versus plan Booming demand for cutting-edge Semiconductors Ongoing expansion of growth for date centers（AI） Increase in domestic demand in China Volume＋ Decrease in sales due to yen appreciationExchange rateー Operating profit positive/negative factor Increase in profit due to higher salesVolume＋ High operating rate of new equipmentOperating rate New facilities in Kyoto plantDepreciation (up)－ Decrease in profit due to yen appreciationExchange rate Increase due to higher shipment volumesLogistics costs Utility, labor, material costs and R&D expensesOther costs (up) 199.2 160.8 3/'26 1H3/'25 1H Net sales 84.2 65.1 3/'26 1H3/'25 1H Operating profit
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© 2025 FUSO CHEMICAL CO., LTD. Focus approach Ⅰ. Preparation for the recovery in semiconductor demand Ⅲ. Quick and flexible response to changes in the external environment Ⅱ. Prompt Establishment of a new production system Ⅳ. Development of next-generation products Challenge for cutting-edge technology, capturing new demand Production, inventory, and shipment adjustments based on the accurate demand forecasts of customers Operation＆Certification of Kashima(Ⅰ , Ⅱ) , the Kyoto new production line Expansion of high-concentration and high-productivity products Continuation of passing on cost increases to prices Proper action to supply chain risks and US-China semiconductor war Launch of hollow submicron silica Development of next-generation materials that create new added value 29
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© 2025 FUSO CHEMICAL CO., LTD. Ⅰ. Challenge for cutting-edge technology 30 FY3/’26 plan FY3/’26 1H result CMP Slurry Market/Sales Target Technical efforts for quality improvement • Particle Size Distribution Control Technology： expansion of the product lineup with reduced coarse and fine particles CMP slurry market forecast: prepared by our company with reference to Fuji Chimera Research Institute and Fuji Keizai 200 300 400 500 600 700 15 25 35 2023 2024 2025 2026 2027 2028 2029 2030 CMP slurry market (100 millions of USD) Segment sales (initial) Segment sales (revised) CMP slurry market (as of Jan, 2025) CMP slurry market (as of Oct,2025) Increasing our sales volume with market conditions CMP slurry market CAGR３％ CMP slurry market CAGR６％ • Customer evaluation：Progress ongoing with multiple customers • Orders for expanded products: Expected to increase in the future • Confirm requirements for A1４ • Exceeded initial expectations in AI market growth • Remaining strong semiconductor market in 2H, driven by AI demand • Expected start 2nm production from the later of this fiscal year • Limited impact of U.S.-China semiconductor friction Electronic materials segment sales (100 millions of yen)
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© 2025 FUSO CHEMICAL CO., LTD. Ⅰ. Capturing new demand 31 2025年度1H実績 Sales in the Chinese market • Continued sales of Ultra high purity colloidal silica • Expand sales to leading CMP slurry makers • Monitor trends in the Chinese semiconductor market • Wafer backside polishing, polishing of new conductors such as Ru and Mo, for beyond 2nm：Ongoing development • Abrasive residue-free, surface topography control, abrasives for improved polishing performance ：Ongoing testing • Sales volume to existing customers exceeded plan • Expected over10% in 2025- 2026 • Increased demand for high- quality products FY3/’26 1H result Capturing new demand driven by process structure changes due to AI semiconductors and other advancements • Advanced Packaging • BSPDN (Back-Side Power Delivery Network） • Confirmed the necessity of our abrasive materials in Advanced Packaging 2022 2026 2030 Sales target in China As of 2022 About 10% of the total
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© 2025 FUSO CHEMICAL CO., LTD. Ⅰ. Production, inventory, and shipment adjustments based on the accurate demand forecasts of customers 3232 FY3/’26 plan FY3/’26 1H result Accurate demand forecasts of customers Next investment costs • FY03/25 demand ：exceeding FY03/24 's level • Demand until FY03/30：expected growth • AI demand growth : slowdown during FY03/27-28 • Finalized demand forecasts from each customers CAGR:8～10％(FY03/24-30) • Start assessment of production volume and next investment plan • Ongoing negotiations • Building long-term trust relationships with customers • Increased volume of production cutting edge semiconductors, customer usage and inventory levels due to strong AI demand • Rise operation rate of the new line, secure inventory level for following year (note: outlook may change depending on certification timing) • Demand expected to expand through FY03/30 as concern over Trump policies ease • Continually increase demand for AI and CMP application processes, miniaturization expected to be the driver of the demand • Determining each company’s demand based on each forecasts • Production volume, next investment decisions (scale and timing） • Allocation of costs and determination of determination of burden amounts • Initiating consensus building with customers 年度 年度 年度 ー：sales volume(result) ー：seles volume(incl. : forecast) …：proper inventory ー：actual inventory Sales volume (FY2023=100)
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© 2025 FUSO CHEMICAL CO., LTD. FY3/’26 plan FY3/’26 1H result Ⅱ. Operation＆Certification of Kashima(Ⅰ , Ⅱ) , the Kyoto new production line 33 • Completed in August, held inauguration ceremony in September 2025 • Initiated activities toward early certification Prototype scheduled in 3Q • Start depreciation in FY3/’26 2H • Continuing full operation from the end of FY3/’25 • Contribute to increased profits through improved utilization rate • Early progress in customer certification due to strong market performance • Completion of customers certification planed in the end of FY3/’26 • Aim for full operation in FY3/’27 1H 2026202520242023expansion 2H 1H2H 1H2H 1H2H 1H Certification to Prototype★ Kashima Ⅰ mass-production • the end of FY3/’25 full operation • FY3/’26 continuing full operation ★ Kashima Ⅱ • completion of construction in July 2025 • providing prototype from 4Q, early certification ★ Kyoto • early certification completed • scheduled for mass production in FY3/’27
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© 2025 FUSO CHEMICAL CO., LTD. FY3/’26 plan FY3/’26 1H result Ⅱ. Expansion of high-concentration and high-productivity products 34 • continuing to expand the product lineup • continuing the customer certification process • expected to increase the ratio of high-concentration, high-productivity items by more than 1.5 times by FY3/’31 Challenges to enhance efficiency • expanding the product lineup(high- concentration/high-productivity products) →approx. 1.5 x higher efficiency compared to conventional products, Initiating proposal to customers Products with high production efficiency （High-concentrated products） improved productivity reduction of particulate quantity securing production capacity response to miniaturization in-house productivity improvements yield improvement in semiconductor manufacturing processes ＋ Develop and deliver high value-added products
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© 2025 FUSO CHEMICAL CO., LTD. FY3/’26 plan FY3/’26 1H result Ⅲ. Quick and flexible Response to changes in the external environment 35 Continuation of passing on cost increases to prices1 Proper action to supply chain risks ２ US-China semiconductor tensions and reciprocal tariffs ３ • no significant cost fluctuations, maintaining prices • address cost increases through efficiency improvements(labor, energy, raw material costs) • maintaining prices through increased operational and production efficiency • no direct impact from reciprocal tariffs • no direct impact from export and import restrictions on semiconductor products monitoring future trends • sales of colloidal silica for the Chinese market exceed projections • diversification of countries purchasing metallic silicon • test purchases from Malaysia and Brazil • strengthening relationships with key suppliers
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© 2025 FUSO CHEMICAL CO., LTD. next- generation material development exhibition new application・ customer acquisition Ⅳ. Development of next-generation products □ CMP scheduled to exhibit at Chemical material Japan 2025 nano tech 2026 □ Hollow Submicron Silica Miralica /Miralica □ new application materials □ new material development started sample work to meet the requirements for the A16/A14 36 □ CMP • work to gain certification • continue sample work continue sample work for multiple companies, focusing on applications for low-dielectric materials continue sample work • inquiries from multiple companies • continue exploring potential uses • high purity organo silica sol • porous silica • silica nanosheets • silica-coated material by FDC ※ ※ FUSO Dispersible Coat： proprietary particle coating technology • file a patent application cutting-edge products, high- rate and high-productivity • Development targeting A14 and advanced packaging ・ building production lines for mass production in FY3/’27
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© 2025 FUSO CHEMICAL CO., LTD. Ⅲ．FY03/2026 Outlook 37 (period April 1, 2025 – March 31, 2026)
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© 2025 FUSO CHEMICAL CO., LTD. Forecast 38 Net sales Operating profit Profit attributable to owners of parent EBITDA FY03/’26 Forecast Result (FY03/’25) Revised plan (disclosure in Oct.) Initial plan (disclosure in May) Results assumptions ¥152¥140¥145 Annual exchange rate 996＄/t (Annual average) 10% lower than the 3/’25 20% lower than the 3/’25 Price of benzene (※) Rise in utility costs Increase in depreciation Increase in depreciation Manufacturing costs Moderate recovery in the semiconductor market Recovery of semiconductor market Driven by AIOthers Net sales :1.8 Operating profit :0.6 【ref】 Exchange sensitivity (※) Asian Contract Price contracted made by ENEOS 755 727 695 Net sales 175 140 162 Operating profit initial （unit：100 millions of yen） 695727755 162140175 11694122 245255284 122 94 116 Profit attributable to owners of parent initial 284 255 245 EBITDA 3/’25 3/’25 3/’25 3/’25 initial initial revised revised revisedrevised
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© 2025 FUSO CHEMICAL CO., LTD. Forecast by Segment（Net sales） 39 186.6 177.8 176.1 179.0 180.1 FY3/'25 FY3/'26 FY3/'25 initial plan revised plan Result (1H) 2H Life Science 160.8 199.2 171.2 185.0 197.7 FY3/'25 FY3/'26 FY3/'25 initial plan revised plan Result (1H) 2H Electronic Materials & Functional Chemicals （unit：100 millions of yen） Full-year plan2H planFY03/’26FY03/’25 YoYrevisedYoYinitialYoYrevisedYoYinitialYoY 1H2H1HNet sales △1.3%358.0△1.2%358.5＋2.3%180.1＋1.6%179.0△4.7%177.8176.1186.6Life Science ＋19.5%397.0＋10.9%368.5＋15.5%197.7＋8.0%185.0＋23.8%199.2171.2160.8Electronic Materials & Functional Chemicals （unit：100 millions of yen） （unit：100 millions of yen）
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© 2025 FUSO CHEMICAL CO., LTD. Forecast by Segment（Operating profit） 40 27.4 25.1 25.4 27.5 27.8 FY3/'25 FY3/'26 FY3/'25 initial plan revised plan Result (1H) 2H Life Science 65.1 84.2 66.5 45.5 62.7 FY3/'25 FY3/'26 FY3/'25 initial plan revised plan Result (1H) 2H Electronic Materials & Functional Chemicals Full-year plan2H planFY03/’26FY03/’25 YoYrevisedYoYinitialYoYrevisedYoYinitialYoY 1H2H1HOperating profit ＋0.2%53.0＋2.1%54.0＋9.2%27.8＋7.9%27.5△8.2%25.125.427.4Life Science ＋11.6%147.0△15.7%111.0△5.7%62.7△31.6%45.5＋29.3%84.266.565.1Electronic Materials & Functional Chemicals （unit：100 millions of yen） （unit：100 millions of yen） （unit：100 millions of yen）
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© 2025 FUSO CHEMICAL CO., LTD. Net Profit Analysis FY03/2026(Plan) versus FY03/2025 41 116.2 59.9 △12.7 △25.9 △8.5 △2.3 1.2 △5.8 122.0 FY3/’26 plan net profit income taxesextraordinary profit or loss non-operating profit or loss selling, general and administrative expenses CGS (depreciation) CGS (other)net salesFY3/’25 net profit （unit：100 millions of yen）
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© 2025 FUSO CHEMICAL CO., LTD. Forecast for Depreciation 42 FY03/’26 FY03/’25 • Office building in Kashima plant • New facilities at Kyoto Plant (depreciation start date: January 2025) • Seismic reinforcement work in Osaka factory （Scheduled from August 2025 to January 2026) • New facilities at Kashima plant 【Ⅱ】 Completion in September (depreciation scheduled to start : December 2025) 28.6 65.2 37.0 96.0 91.0 109.6 7.2 15.6 7.8 17.0 16.0 18.3 37.0 83.0 45.8 115.0 109.0 129.8 1H Full-year Result Plan (initial) Plan (revised) Forecast 3/'25 3/'26 3/'27 ※Announcement in May 2025 3/'273/'263/'25 (unit: 100 million of yen) ForecastPlan (revised) Plan (initial) 1H ResultFull-year1H 18.316.017.07.815.67.2Life Science 109.691.096.036.965.228.6 Electronic Materials ＆ Functional Chemicals 1.92.02.01.02.11.0Common 129.8109.0115.045.883.037.0Consolidated Total （unit：100 millions of yen）
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© 2025 FUSO CHEMICAL CO., LTD. FUSO VISION 2025 progress 43 Revised plan Growth path management target May 2021 Management target May 2023 Revised target (based on the performance) 580Net sales 140 Operating profit 200EBITDA 850755727695 190175140162 300284255245 1st year 2021 2024 Final year 2025 FY03/2025 result FY3/2026 plan Our exchange rate (1＄＝¥) ¥107 ¥112 ¥135 ¥152 ¥140 ¥145 2022 2023 revisedinitial Net sales Operating profit EBITDA Net sales 30%UP(vs FY2020) Operating profit keep20%～ Overseas sales ratio 50％～ FY2021～FY2025 mid-term plan （initial） （unit：100 millions of yen） （unit：100 millions of yen） (At the time of formulation) Initial plan Growth path
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© 2025 FUSO CHEMICAL CO., LTD. Business Performance and Plan 44 377.0 377.0 557.6 684.5 589.7 695.0 727.0 755.0Net sales 97.4 97.4 150.3 189.3 110.8 162.3 140.0 175.0Operating profit 98.0 98.0 155.0 197.4 118.8 165.6 138.0 176.0Ordinary profit 68.7 68.7 108.9 141.2 83.4 116.2 94.0 122.0 Profit attributable to own of parent 1H result （unit：100 millions of yen） 1H result 1H result1H result 3/’26 Plan(revised) 3/’26 Plan(initial) 3/’253/’243/’233/’22 3/’26 Plan(revised) 3/’26 Plan(initial) 3/’253/’243/’233/’22 3/’26 Plan(revised) 3/’26 Plan(initial) 3/’253/’243/’233/’22 3/’26 Plan(revised) 3/’26 Plan(initial) 3/’253/’243/’233/’22
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© 2025 FUSO CHEMICAL CO., LTD. Stock information 45 45% Domestic corporation 45% 21% Financial institution 18% 22% Overseas 27% 11% Individual 9% 2024/9 2025/9 Shareholders Status of Cross-shareholdings (Listed Stocks) 25 18 8 6 6 6 FY3/'21 FY3/'26 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 3/2015 9/2025 （100 millions of yen） (persons) shareholders market value Market value / Number of shareholders
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© 2025 FUSO CHEMICAL CO., LTD. 46 3/’26 revised 3/’26 Initial3/'253/'243/'233/'223/’213/’203/’193/’183/’173/’163/’15 Shareholder Return 18 35 43 45 46 46 48 55 63 66 73 76 82 Dividend payout ratio 24% FUSO VISION 2025 Progressive dividends to provide stable and long-term returns to our shareholdersPolicy Ordinary dividends ¥73FY3/2025 Ordinary dividends ¥76 (2nd quarter end: ¥38/ Fiscal year end: ¥38) FY3/2026 initial forecast Ordinary dividends ¥82 (2nd quarter end: ¥41/ Fiscal year end:¥41) FY3/2026 revised forecast
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© 2025 FUSO CHEMICAL CO., LTD. Ⅳ. Q & A 47
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© 2025 FUSO CHEMICAL CO., LTD. 48 Important Notice Regarding the Outlook The descriptions and figures stated in this material regarding the outlook are based on information obtained from our group companies as of the present time as well as certain assumptions deemed to be reasonable. However, due to risks and other variables, we cannot guarantee the attainment of the targets stated herein. In addition, the actual performance may greatly vary in accordance with the economic climate surrounding the business, demand trends, exchange rate movements and other various factors.