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sawai Sawai Group Holdings Co. , Ltd. Presentation Materials FY2026 Q1 August 10 , 2026 4887 , TSE Prime
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© 2026 SAWAI GROUP HOLDINGS Co., Ltd. 2 ▌Supply status ⚫ Current number of items for which shipment is restricted or suspended: 139 items; regular shipment: 603 items (as of June 30, 2026) ⚫ Increased number of shipment-restricted items due to supply tightness in some products ⚫ Reviewing item-by-item production plans to promote strengthening of supply capacity with priority given to products that are difficult to substitute ▌Production volume (included outsourced production) ⚫ Revenue increased 4.3% YoY , core operating profit decreased 15.4% YoY , and operating profit decreased 29.0% YoY . Increased sales of products listed in FY2025 and FY2026 Sales decline in existing products due to NHI drug price revisions Incurrence of inventory valuation and disposal losses Increased in fixed costs due to higher headcount ⚫ Production volume for Q1 FY2026 was 4.4 billion tablets (Increased 13.0% YoY / Increased 500 million tablets YoY) ⚫ Progress rate 24.5% (annual plan for FY2026 of 18.0 billion tablets） ▌Results for the First Three Months of FY2026 (Ended March 31,2027) Summary ▌Sales volume ⚫ Sales volume for Q1 FY2026 4.3 billion tablets (Increased 2.7% YoY / Increased 100 million tablets YoY) ⚫ Progress rate 24.8% (annual plan for FY2026 of 17.6 billion tablets）
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© 2026 SAWAI GROUP HOLDINGS Co., Ltd. 3 ⚫ Sales growth driven by strong sales of products listed in December 2025 and in June 2026 ⚫ Gross profit margin declined due to inventory valuation and disposal losses ⚫ Incurrence of R&D impairment losses Overview of Financial Results for Q1 FY2026 (Unit: million yen) Average rate US$1=¥159 Q1 FY2025 results Q1 FY2026 results YoY Full-Year forecasts Progress Revenue 49,511 51,622 +4.3% 208,400 24.8% Gross profit 15,438 15,076 (2.3)% 65,500 23.0% Core operating profit 7,597 6,425 (15.4)% 29,600 21.7% Operating profit 6,979 4,953 (29.0)% 27,200 18.2% Profit before tax 6,802 4,445 (34.7)% 26,000 17.1% Profit attributable to owners of the Company 4,891 2,429 (50.3)% 18,600 13.1% US$1=¥145 * The line items from revenue through profit before tax show the amount of the Japan business as continuing operations. Profit attributable to owners of the Company shows the combined amount of the continuing operations and the discontinued operations. * Core operating profit is calculated by excluding profits and losses attributed to non–recurring factors from operating profit. * (Breakdown of interim profit attributable to owners of the parent company) FY2025 Q1: Continuing operations 4,856 million yen, Discontinued operations 35 million yen FY2026 Q1: Continuing operations 2,863 million yen, Discontinued operations (433) million yen ▌YoY change
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© 2026 SAWAI GROUP HOLDINGS Co., Ltd. 4 1,711 1,584 (-7.4%) 468 516 (+10.3%) 4,119 4,220 (+2.5%) 1,866 1,654 (-11.4%) 2,488 2,392 (-3.9%) 1,330 1,286 (-3.3%) 1,459 1,891 (+29.6%) 2,485 887 Q1 FY2025 Q1 FY2026 FY2026 FY2025 FY2024 FY2023 FY2022 FY2021 FY2020 FY2019 FY2018 Others Revenue by Product Listed Year 49,511 51,622 (YoY+4.3%) (Unit: million yen) ⚫ Products listed in December 2025 performed strongly, led by Dapagliflozin ⚫ Products listed in June 2026 are also off to a strong start ⚫ Many products listed in or before 2023 saw revenue declines, mainly due to drug price revisions 34,708(-3.8%)36,070
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© 2026 SAWAI GROUP HOLDINGS Co., Ltd. 5 Operating Profit Analysis (Unit: million yen) 4,953 1,093 • Increase in labor cost • Increase in depreciation cost Gross profit (2,026) 460 (911) (988) (122) • Increase in HR-related expenses, including personnel costs • Consolidation of expenses of FrontAct 6,979 (1,004) (29) (525) • Impact of AG launch • Disposal of off-spec products
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Reference Materials
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© 2026 SAWAI GROUP HOLDINGS Co., Ltd. 7 18.5 20.5 22.0 23.0 24.5 24.0 25.0 0.0 5.0 10.0 15.0 20.0 25.0 30.0 FY2023 FY2024 FY2025 FY2026 FY2027 FY2028 FY2029 FY2030 20.5 ⚫ Impact on production from the Kumamoto Earthquake was minimal. ⚫ Scheduled launch of Step 2 at Daini Kyushu Factory new building in Dec 2026. ⚫ Proceeding with product transfers to the new building at Daini Kyushu Factory and Trust Pharmatech ⚫ Continue to consider making additional investments, including construction of own factories and alliance with other companies, to achieve in-house production capacity of 25.0 billion tablets in FY2030. Investment in Trust Pharmatech’s Seima Daini Factory Production capacity +1.0 billion tablets Tablets (in billion) *Assumptions for production capacity: Continuous operations of machines in two shifts on weekdays for the current number of items. The number of items produced under contract manufacturing is not included. New solid dosage form facility at Daini Kyushu Factory: Step 1 (Operation started in Jul. 2024) Production capacity +2.0 billion tablets New solid dosage form facility at Daini Kyushu Factory: Step 2 Production capacity +1.5 billion tablets Investment in Trust Pharmatech’s Seima Daisan Factory Production capacity +1.5 billion tablets Strategies for Production Capacity Expansion
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© 2026 SAWAI GROUP HOLDINGS Co., Ltd. 8 Comparison of Sales Volume by Therapeutic Area Q1 FY2025 Composition(volume) Q1 FY2026 Composition(volume) YoY change (volume) YoY change (value) Cardiovascular drugs 27.3% 27.2% +2.6% +1.4% Central nervous system drugs 15.9% 16.0% +3.4% +6.5% Gastro–intestinal drugs 15.6% 14.8% (2.9)% (3.5)% Other metabolic drugs 8.9% 9.7% +12.1% +33.5% Blood/body fluid pharmaceutical products 8.3% 9.7% +20.5% (0.9)% Vitamin drugs 5.3% 5.5% +6.1% (1.0)% Antiallergic drugs 4.7% 4.7% +3.3% +4.5% Respiratory organ agents 5.2% 3.7% (27.0)% (24.3)% Others 8.8% 8.6% +0.5% +2.1% Total 100.0% 100.0% +2.7% +4.3%
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© 2026 SAWAI GROUP HOLDINGS Co., Ltd. 9 v Total assets 369.0 vv v 203.7 Current assets 191.3 Liabilities 165.3 177.7 Equity Total assets 359.9 vv vv 200.3 Current assets 181.4 Liabilities 159.6 Non-current assets 178.6 Equity Ratio of equity attributable to owners of the Company to total assets: 49.6% Net D/E ratio: 0.43 48.1% 0.52 End of March 2026 End of June 2026 Cash and cash equivalents 29.0 Cash and cash equivalents 26.1 ▌Consolidated Statements of Financial Position Consolidated Financial Highlights 1 (Unit: billion yen) Non-current assets Ratio of equity attributable to owners of the Company to total assets: Net D/E ratio:
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© 2026 SAWAI GROUP HOLDINGS Co., Ltd. 10 (Unit: million yen) Q1 FY2025 results Q1 FY2026 results YoY change Factors Operating CF (13,405) (427) +12,978 • Profit before tax: +4,445 • Depreciation and amortization: +4,347 • Increase in inventory: (7,970) Investing CF (8,598) (12,706) (4,108) • Acquisition of property, plant and equipment: (10,584) • Acquisition of intangible assets: (2,023) Financing CF 10,545 10,197 (348) • Net increase acquisition of short-term borrowings: +15,647 • Repayments of long-term borrowings: (1,711) • Dividends paid: (3,234) Cash and cash equivalents at end of the period 27,280 26,059 (1,221) ▌Consolidated Statements of Cash Flows Consolidated Financial Highlights 2
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© 2026 SAWAI GROUP HOLDINGS Co., Ltd. 11 FY2025 Results FY2026 Results FY2026 Forecasts Q1 % of revenue Q1 % of revenue YoY H1 % of revenue YoY H2 % of revenue YoY Full-year % of revenue YoY Revenue 49,511 100.0% 51,622 100.0% +4.3% 101,000 100.0% +2.2% 107,400 100.0% +4.4% 208,400 100.0% +3.3% Cost of sales 34,074 68.8% 36,546 70.8% +7.3% 68,900 68.2% (0.3)% 74,000 68.9% +0.3% 142,900 68.6% +0.0% Gross profit 15,438 31.2% 15,076 29.2% (2.3)% 32,100 31.8% +7.9% 33,400 31.1% +15.0% 65,500 31.4% +11.4% SG&A expenses 6,032 12.2% 7,020 13.6% +16.4% 13,600 13.5% +13.6% 14,400 13.4% +2.3% 28,000 13.4% +7.5% R&D expenses 2,420 4.9% 2,974 5.8% +22.9% 5,400 5.4% +3.0% 4,900 4.6% (31.4)% 10,300 4.9% (16.9)% Other income (expenses) (6) - (128) - - - - ‐ - - ‐ - - ‐ Core operating profit 7,597 15.3% 6,425 12.4% (15.4)% 14,300 14.2% +3.9% 15,300 14.3% +38.9% 29,600 14.2% +19.5% Operating profit 6,979 14.1% 4,953 9.6% (29.0)% 13,100 13.0% +53.5% 14,100 13.1% +91.6% 27,200 13.1% +71.1% Profit before tax 6,802 13.7% 4,445 8.6% (34.7)% 12,500 12.4% +57.0% 13,500 12.6% +113.9% 26,000 12.5% +82.2% Profit attributable to owners of the Company 4,891 9.9% 2,429 4.7% (50.3)% 8,900 8.8% +52.2% 9,700 9.0% +111.2% 18,600 8.9% +78.2% Consolidated Financial Highlights 3 (Unit: million yen) ▌Key Income Statement Data
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© 2026 SAWAI GROUP HOLDINGS Co., Ltd. 12 Consolidated Financial Highlights 4 Q1 FY2025 results Q1 FY2026 results Full basis Adjustment Core basis Full basis Adjustment Core basis Revenue 49,511 – 49,511 51,622 – 51,622 Cost of sales (34,074) 26 (34,047) (36,546) 98 (36,448) Gross profit 15,438 26 15,464 15,076 98 15,174 SG&A expenses (6,032) 142 (5,890) (7,020) 192 (6,828) Amortization of intangible assets (133) 133 – (175) 175 – Other (10) 10 – (17) 17 – R&D expenses (2,420) 443 (1,977) (2,974) 1,053 (1,921) Amortization (440) 440 – (528) 528 – Impairment loss – – – (525) 525 – Other (3) 3 – – – – Other income 20 (20) – 102 (102) – Other expenses (26) 26 – (230) 230 – Operating profit 6,979 618 7,597 4,953 1,472 6,425 (Unit: million yen) ▌Adjustment from Full Basis to Core Basis
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© 2026 SAWAI GROUP HOLDINGS Co., Ltd. 13 Consolidated Financial Data ▌Sales and Production Volume ▌Capital Investment, and Depreciation and Amortization ▌Personnel Information (Number of Employees) (Unit: million yen) Q1 FY2025 Q1 FY2026 FY2026 full-year Results Results YoY change Forecasts YoY change Sales volume 4.2 4.3 +2.7% 17.6 +2.9% Production volume 3.9 4.4 +13.0% 18.0 +8.4% (Unit: billion tablets) Q1 FY2025 results Q1 FY2026 results FY2026 full- year forecasts Capital investment 1,780 9,534 22,100 Depreciation and amortization 3,859 4,347 17,500 Manufacturing Division 2,708 2,991 12,100 R&D Division 692 800 3,100 Administration Div. & Business Div. 459 556 2,400 FY2025 FY2026 End of June Composition End of June Composition Manufacturing Division 2,579 72.7% 2,850 73.9% R&D Division 312 8.8% 323 8.4% Administration Div. & Business Div. 655 18.5% 685 17.8% MRs * 372 - 368 - Total 3,546 100.0% 3,858 100.0% * The number of MRs includes contract employees.
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Contact Sawai Group Holdings Co., Ltd. IR Group, Group Finance Department Forward–looking statements contained in this document are based on several assumptions and do not guarantee or assure the achievement of projected figures and the implementation of initiatives. Disclaimer ir@sawai.co.jpE-Mail