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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. (Securities code: 6370) Results Presentation for the First Half of the Fiscal Year Ending March 31, 2026 November 10, 2025 Kurita Water Industries Ltd.
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. 1 Net sales : + 1% Business profit : + 11% CSV business net sales : + 11% Our performance is progressing in line with the full-year forecast. 1H Results ⚫ Net sales of recurring contract-based services and maintenance progressed well, driving higher sales and profit and improved profitability. General Industry Electronics Industry Summary Orders : revised upward by + 2% Net sales/Business profit : unchangedFull-year Forecasts ⚫ Net sales growth in the facility business and expansion of the CSV business drove higher sales and profits, improving profitability. ⚫ Based on recent order trends and construction progress, orders forecast were revised upward and net sales downward. ⚫ Business profit remains unchanged due to an improved business mix. General Industry Electronics Industry ⚫ Reflecting the revised foreign exchange assumptions and first-half progress, orders and net sales forecasts were revised upward. ⚫ Business profit forecast remains unchanged due to the impact of additional costs incurred in 1Q.
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Table of Contents 1 2 3 Consolidated Financial Results for the First Half of the Fiscal Year Ending March 31, 2026 Consolidated Business Forecast for the Fiscal Year Ending March 31, 2026 Progress of Pioneering Shared Value 2027(PSV-27) P. 3 ‐ 13 P. 14 ‐ 23 P. 24 ‐ 41 4 Appendix P. 42 ‐ 44
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Consolidated Financial Results for the First Half of the Fiscal Year Ending March 31, 2026 1
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Overview of Results (Billions of Yen) FY 03/2025 1H Results FY 03/2026 1H Results FY 03/2026 1H Forecast (Announced in May) YoY Change YoY change rate Orders 212.2 206.8 (5.4) (2.6%) 205.0 Net Sales 195.5 198.3 + 2.8 + 1.4% 202.0 Business Profit 21.2 23.6 + 2.4 + 11.1% 24.0 Business Profit Margin 10.9% 11.9% + 1.0 pp ー 11.9% Net of Other Income and Expenses + 0.3 + 1.3 + 1.0 ー (0.2) Operating Profit 21.5 24.9 + 3.4 + 15.9% 23.8 Profit Before Tax 21.4 24.6 + 3.2 + 14.8% 23.3 Profit Attributable to Owners of Parent 14.9 17.2 + 2.2 + 15.0% 15.8 Basic Earnings per Share (yen) 132.83 155.90 + 23.07 + 17.4% 143.45 Foreign Exchange Rate USD (yen) 152.6 146.0 140.0 EUR (yen) 166.0 168.1 160.0 CNY (yen) 21.2 20.3 20.0 （Billions of Yen） 4 186.4 212.2 206.8 188.4 195.5 198.3 18.1 21.2 23.6 0 5 10 15 20 25 30 35 0 FY 03/2024 1H Results FY 03/2025 1H Results FY 03/2026 1H Results Orders Net Sales Business Profit
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. 21.2 23.6 0 5 10 15 20 25 30 Factors in Business Profit Change (YoY Change) (Billions of Yen) Impact of increased sales + 2.1 Improving the cost of sales ratio + 2.0 Increase in SG&A expenses (1.5) Impact of foreign exchange rate (0.3) FY 03/2025 1H Results FY 03/2026 1H Results ⚫ Increase in personnel and digital-related expenses YoY Change + 2.4 (Organic Change + 2.6) General Industry Electronics Industry Increased Increased General Industry Electronics Industry Improved Improved 5
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Results by Segment (Billions of Yen) FY 03/2025 1H Results FY 03/2026 1H Results FY 03/2026 1H Forecast (Announced in May) YoY Change Orders 97.6 87.5 (10.0) 92.0 Facilities 40.1 26.8 (13.3) 35.8 Recurring Contract- Based Services 25.6 28.5 + 2.9 25.4 Services 31.9 32.3 + 0.5 30.8 Chemicals 6.1 5.8 (0.2) 5.9 Precision Tool Cleaning 14.6 13.1 (1.5) 13.8 Maintenance 11.2 13.4 + 2.2 11.1 Net Sales 89.7 90.1 + 0.4 96.0 Facilities 34.8 31.4 (3.4) 42.3 Recurring Contract- Based Services 25.7 28.4 + 2.7 25.4 Services 29.1 30.3 + 1.1 28.4 Chemicals 6.1 5.8 (0.2) 5.9 Precision Tool Cleaning 14.4 13.0 (1.4) 13.8 Maintenance 8.7 11.4 + 2.7 8.6 Business Profit 10.7 11.9 + 1.2 12.0 Business Profit Margin 11.9% 13.2% + 1.3pp 12.5％ Operating Profit 10.4 12.9 + 2.5 12.0 Facilities Recurring Contract-Based Services Precision Tool Cleaning Maintenance Organic Change + 2.5 Impact of Foreign Exchange Rate (2.0) ⚫ Net sales declined mainly overseas, reflecting the impact of foreign exchange and customer operation. ⚫ Orders and net sales decreased year on year due to the absence of large-scale projects recorded in China in 1H of the previous fiscal year. ⚫ Net sales increased, driven by water supply project launched in 2Q of the previous fiscal year and improved customer operation. ⚫ Both orders and net sales increased in Japan and Asia. Electronics Industry 6 Temporary gain from cancellation of certain water supply contract * From this fiscal year, reclassified the Europe/North America facility business for Electronics industry from General Industry segment to Electronics Industry segment, with retrospective adjustment to FY 03/2025 results.
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. 10.7 11.9 0 5 10 15 Factors in Business Profit Change (YoY Change) ⚫ Increased in recurring contract- based service and maintenance, while facility sales declined ⚫ Business mix improved due to higher sales ratio of service businesses ⚫ Profitability in the facility business improved ⚫ Increase in personnel and digital-related expenses (Billions of Yen) Impact of increased sales + 0.7 Improving the cost of sales ratio + 1.5 Increase in SG&A expenses (0.7) Impact of foreign exchange rate (0.2) FY 03/2025 1H Results FY 03/2026 1H Results YoY Change + 1.2 (Organic Change + 1.4) Electronics Industry 7
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Results by Segment (Billions of Yen) FY 03/2025 1H Results FY 03/2026 1H Results FY 03/2026 1H Forecast (Announced in May)YoY Change Orders 114.7 119.2 + 4.6 113.0 Facilities 16.3 17.5 + 1.1 14.7 Recurring Contract- Based Services 5.4 5.9 + 0.6 5.9 Services 92.9 95.8 + 2.9 92.5 Chemicals 59.8 59.8 (0.0) 59.3 Maintenance 27.6 28.5 + 0.8 27.3 Others 5.4 7.6 + 2.2 5.9 Net Sales 105.9 108.2 + 2.3 106.0 Facilities 12.8 15.2 + 2.3 13.0 Recurring Contract- Based Services 5.5 6.1 + 0.6 6.1 Services 87.5 86.9 (0.6) 86.9 Chemicals 59.9 59.3 (0.6) 59.4 Maintenance 23.0 23.9 + 1.0 23.3 Others 4.7 3.7 (1.0) 4.2 Business Profit 10.6 11.7 + 1.1 12.0 Business Profit Margin 10.0% 10.8% + 0.8pp 11.3% Operating Profit 11.1 12.0 + 0.9 11.8 Facilities Recurring Contract-Based Services Chemicals Others Organic Change + 3.4 Impact of Foreign Exchange Rate (1.1) ⚫ Excluding FX impact, both orders and net sales increased slightly. ⚫ Despite deteriorating business sentiment in ASEAN, growth in CSV business sales contributed positively. ⚫ Orders increased in North America, due to an increase in municipal facility projects. ⚫ Net sales increased mainly due to construction progress in Japan. ⚫ Net sales increased, driven by the expansion of CSV business. ⚫ While we received a large-scale order for soil remediation project, net sales declined due to the timing of project execution. General Industry 8 * From this fiscal year, reclassified the Europe/North America facility business for Electronics industry from General Industry segment to Electronics Industry segment, with retrospective adjustment to FY 03/2025 results.
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. 10.6 11.7 0 5 10 15 Factors in Business Profit Change (YoY Change) ⚫ Increased mainly in facilities and maintenance (Billions of Yen) Impact of increased sales + 1.5 Improving the cost of sales ratio + 0.4 Increase in SG&A expenses (0.7) Impact of foreign exchange rate (0.1) FY 03/2025 1H Results FY 03/2026 1H Results YoY Change + 1.1 (Organic Change +1.2) ⚫ Despite additional costs incurred in 1Q, the expansion of CSV business contributed to an improvement. ⚫ Increase in personnel and digital-related expenses General Industry 9
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. 24.3 19.2 24.0 26.7 FY 03/2024 1H Results FY 03/2025 1H Results FY 03/2026 1H Results CSV Business Net Sales (Consolidated) 4.1 6.3 6.9 5.9 FY 03/2024 1H Results FY 03/2025 1H Results FY 03/2026 1H Results 20.312.9 17.1 20.9 FY 03/2024 1H Results FY 03/2025 1H Results FY 03/2026 1H Results CSV Business Net Sales (Electronics Industry) CSV Business Net Sales (General Industry) CSV Business CSV Business Net Sales (Billions of Yen) FY 03/2025 1H Results FY 03/2026 1H Results FY 03/2026 Forecast (Announced in May)YoY Change Consolidated 24.0 26.7 + 2.7 55.5 Electronics Industry 6.9 5.9 (1.1) 11.5 General Industry 17.1 20.9 + 3.8 44.0 (Billions of Yen) (Billions of Yen) (Billions of Yen) 10 Number of CSV Business Models (Models) End of March 2025 End of September 2025 Change Consolidated 96 118 + 22 Service Business 69％ Service Business 97％ Service Business 91％
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Net Sales by Region (Billions of Yen) FY 03/2025 1H Results FY 03/2026 1H Results FY 03/2026 Forecast (Announced in May)YoY Change Japan 52.7 56.3 + 3.6 54.5 Asia 11.0 11.4 + 0.4 11.1 North & South America 24.9 23.2 (1.7) 23.1 EMEA 17.3 17.3 (0.0) 17.3 Total 105.9 108.2 +2.3 106.0 (Billions of Yen) FY 03/2025 1H Results FY 03/2026 1H Results FY 03/2026 Forecast (Announced in May)YoY Change Japan 39.5 44.3 + 4.8 43.4 Asia 37.6 30.9 (6.7) 33.5 North & South America 10.6 12.0 + 1.4 16.7 EMEA 2.0 2.9 + 0.9 2.4 Total 89.7 90.1 + 0.4 96.0 Consolidated (Billions of Yen) FY 03/2025 1H Results FY 03/2026 1H Results FY 03/2026 Forecast (Announced in May)YoY Change Japan 92.2 100.6 + 8.4 97.9 Asia 48.6 42.3 (6.3) 44.6 North & South America 35.4 35.2 (0.3) 39.8 EMEA 19.3 20.2 + 0.9 19.7 Total 195.5 198.3 + 2.8 202.0 General IndustryElectronics Industry * From this fiscal year, reclassified the Europe/North America facility business for Electronics industry from General Indust ry segment to Electronics Industry segment, with retrospective adjustment to FY 03/2025 results. ⚫ Japan: Increased Increase in recurring contract-based services and facilities ⚫ Asia: Decreased The absence of large-scale projects in China recorded in previous 1H. ⚫ Japan: Increased Due to the progress in construction progress of facilities and increase in maintenance ⚫ North & South America: Decreased Impacted by FX and as a reaction to high facility sales for public-sector recorded in previous 1H Electronics Industry General Industry 11
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. 15.3 25.4 14.713.9 14.9 15.4 0 (Billions of Yen) FY 03/2025 1H Results FY 03/2026 1H Results FY 03/2026 Forecast (Announced in May)YoY Change Capital Expenditures (Property, Plant and Equipment*) 25.4 14.7 (10.7) 22.9 Depreciation (Property, Plant and Equipment*) 14.9 15.4 + 0.5 32.5 R&D Expenses 4.2 4.0 (0.2) 8.0 Capital Expenditures, Depreciation and R&D Expenses R&D Expenses 3.6 4.2 4.0 1.9 2.2 2.0 0 1.3 2.6 0 4.0 * Right-of-use assets are included. Capital Expenditures and Depreciation █ R&D Expenses█ Capital Expenditures (Property, Plant and Equipment*) █ Depreciation (Property, Plant and Equipment*) FY 03/2024 1H Results FY 03/2025 1H Results FY 03/2026 1H Results FY 03/2024 1H Results FY 03/2025 1H Results FY 03/2026 1H Results ⚫ R&D Expenses Ratio (Billions of Yen) (Billions of Yen) ⚫ Capital expenditures decreased mainly in water supply services and precision tool cleaning business. ⚫ Depreciation increased reflecting the launch of new water supply services from previous 2Q. ⚫ R&D expenses remained at the same level as previous 1H. (%) 12
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Financial Condition (Billions of Yen) End of March 2025 End of September 2025 Change Cash and Cash Equivalents 63.0 65.2 + 2.3 Trade and Other Receivables 126.4 127.9 + 1.5 Inventories 20.7 21.2 + 0.5 Others 10.9 10.6 (0.3) Total Current Assets 221.0 225.0 + 4.0 Property, Plant and Equipment 195.4 195.2 (0.2) Goodwill 66.3 67.9 + 1.6 Other Non-Current Assets 66.2 65.9 (0.4) Total Non-Current Assets 328.0 329.0 + 1.0 Total Assets 548.9 553.9 + 5.0 Current Liabilities 132.6 129.4 (3.2) Non-Current Liabilities 77.9 85.9 + 8.0 Total Liabilities 210.4 215.2 + 4.8 Equity Attributable to Owners of Parent 336.0 336.1 + 0.1 Non-Controlling Interests 2.5 2.6 + 0.1 Total Equity 338.5 338.7 + 0.2 Total Liabilities and Equity 548.9 553.9 + 5.0 13 Increased mainly in contract assets Due to the impact of FX rates Issuance of corporate bonds Increased in retained earnings, while share repurchases reduced equity
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Business Forecast for the Fiscal Year Ending March 31, 2026 2
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Overview of Business Forecast (Billions of Yen) Previous Forecast (Announced in May) FY 03/2026 Forecast (Announced in Nov.) FY 03/2025 ResultsChange Orders 425.0 435.0 + 10.0 433.0 Net Sales 425.0 425.0 ― 408.9 Business Profit 54.0 54.0 ― 49.2 Business Profit Margin 12.7% 12.7% ― 12.0% Net of Other Income and Expenses (0.5) (0.5) ― (17.9) Operating Profit 53.5 53.5 ― 31.3 Profit Before Tax 52.5 52.5 ― 31.8 Profit Attributable to Owners of Parent 36.3 36.3 ― 20.3 Basic Earnings per Share (yen) 330.72* 330.62* (0.1) 180.66 Return on Equity (ROE) 10.7% 10.7% ― 6.1% Return on Invested Capital (ROIC) 8.7% 8.7% ― 8.8% Foreign Exchange Rate USD (yen) 140.0 146.0 ― 152.6 EUR (yen) 160.0 168.1 ― 163.8 CNY (yen) 20.0 20.3 ― 21.1 390.2 433.0 435.0 384.8 408.9 425.0 42.1 49.2 54.0 0.00.0 FY 03/2024 Results FY 03/2025 Results FY 03/2026 Forecast Orders Net Sales Business Profit （Billions of Yen） 15 * Due to the acquisition of treasury stock and other factors, the average number of shares outstanding during the period has changed. Accordingly, the figures have been revised from the initial forecast announced on May 8.
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. 49.2 54.0 0 10 20 30 40 50 60 70 Improving the cost of sales ratio + 2.0 Factors in Business Profit Change (YoY Change) (Billions of Yen) Impact of increased sales + 5.7 Increase in SG&A expenses (2.0) FY 03/2025 Full-Year Results FY 03/2026 Full-Year Forecast (Announced in Nov.) ⚫ Personnel expenses and digital-related costs increase YoY Change + 4.8 (Organic Change + 5.4) General Industry Electronics Industry Increased General Industry Electronics Industry Improved Worsened 16 Impact of increased sales + 2.1 Increase in SG&A expenses (1.5) Impact of foreign exchange rate (0.3) Worsening the cost of sales ratio (1.0) Impact of foreign exchange rate (0.3) Increased 1H ＋ 2.4 2H ＋ 2.5
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Forecast by Segment (Billions of Yen) Previous Forecast (Announced in May) FY 03/2026 Forecast (Announced in Nov.) FY 03/2025 ResultsChange Orders 210.0 213.0 + 3.0 214.4 Facilities 94.9 96.1 + 1.2 96.2 Recurring Contract- Based Services 51.4 52.5 + 1.1 54.8 Services 63.7 64.4 + 0.7 63.4 Chemicals 11.5 11.3 (0.2) 11.6 Precision Tool Cleaning 29.3 29.0 (0.3) 28.6 Maintenance 22.9 24.1 + 1.2 23.2 Net Sales 205.0 199.0 (6.0) 189.6 Facilities 90.8 81.2 (9.5) 73.8 Recurring Contract- Based Services 51.3 52.4 + 1.1 54.8 Services 62.9 65.4 + 2.4 61.0 Chemicals 11.5 11.4 (0.1) 11.6 Precision Tool Cleaning 29.3 29.0 (0.3) 28.6 Maintenance 22.2 25.1 + 2.9 20.8 Business Profit 26.0 26.0 ― 24.5 Business Profit Margin 12.7% 13.1% + 0.4pp 12.9% Operating Profit 26.0 26.5 + 0.5 9.2 Facilities Recurring Contract-Based Services Precision Tool Cleaning Maintenance Organic Change (8.0) Impact of Foreign Exchange Rate + 2.0 ⚫ Reflecting 1H progress ⚫ Orders were revised upward, reflecting the acquisition of a large-scale project in Korea during 1H. ⚫ Net sales were revised downward mainly due to construction progress in Asia and North America. ⚫ Upward revision based on customer operation for water supply project. ⚫ Upward revision in Japan and Korea Electronics Industry 17 * From this fiscal year, reclassified the Europe/North America facility business for Electronics industry from General Industry segment to Electronics Industry segment, with retrospective adjustment to FY 03/2025 results.
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. 24.5 26.0 0 5 10 15 20 25 30 35 40 Factors in Business Profit Change (YoY Change) (Billions of Yen) Impact of increased sales + 3.0 Worsening the cost of sales ratio (1.4) Increase in SG&A expenses (1.1) Impact of foreign exchange rate (0.2) FY 03/2025 Full-Year Results ⚫ Increase in personnel expenses and digital-related costs 18 Impact of foreign exchange rate (0.2) 1H ＋ 1.2 2H ＋ 0.3 Electronics Industry Impact of increased sales + 0.7 Improving the cost of sales ratio + 1.5 Increase in SG&A expenses (0.7) ⚫ Mainly due to the absence of one- time revenue in recurring contract-based services posted in previous 2H. ⚫ Expecting sales growth mainly in the facility business for Europe, North America and Japan. YoY Change + 1.5 (Organic Change + 2.0) FY 03/2026 Full-Year Forecast (Announced in Nov.) * From this fiscal year, reclassified the Europe/North America facility business for Electronics industry from General Industry segment to Electronics Industry segment, with retrospective adjustment to FY 03/2025 results.
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Forecast by Segment (Billions of Yen) Previous Forecast (Announced in May) FY 03/2026 Forecast (Announced in Nov.) FY 03/2025 ResultsChange Orders 215.0 222.0 + 7.0 218.5 Facilities 29.3 31.8 + 2.6 31.1 Recurring Contract- Based Services 11.9 12.0 + 0.1 11.4 Services 173.8 178.1 + 4.3 176.1 Chemicals 118.7 118.7 + 0.1 118.3 Maintenance 45.9 49.0 + 3.1 48.8 Others 9.3 10.4 + 1.1 8.9 Net Sales 220.0 226.0 + 6.0 219.3 Facilities 32.8 36.6 + 3.8 32.2 Recurring Contract- Based Services 11.6 11.9 + 0.2 11.2 Services 175.6 177.6 + 1.9 176.0 Chemicals 117.8 118.3 + 0.5 118.1 Maintenance 49.2 49.8 + 0.6 48.9 Others 8.7 9.5 + 0.8 9.0 Business Profit 28.0 28.0 ― 24.7 Business Profit Margin 12.7% 12.4% (0.3pp) 11.3% Operating Profit 27.5 27.0 (0.5) 22.1 Facilities Chemicals Maintenance Organic Change + 1.4 Impact of Foreign Exchange Rate + 4.6 ⚫ Reflecting the 1H trends such as weaker economic conditions in the ASEAN region, organic forecasts were revised downward. ⚫ Continuously steady growth in the CSV business is expected. ⚫ Orders were revised upward in Japan and North America reflecting the progress in 1H. ⚫ Net sales were raised reflecting construction progress in Japan and North America. ⚫ Reflecting 1H progress General Industry 19 * From this fiscal year, reclassified the Europe/North America facility business for Electronics industry from General Industry segment to Electronics Industry segment, with retrospective adjustment to FY 03/2025 results.
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Improving the cost of sales ratio + 1.0 24.7 28.0 0 10 20 30 40 Factors in Business Profit Change (YoY Change) (Billions of Yen) Impact of increased sales + 2.2 Increase in SG&A expenses (1.0) Impact of foreign exchange rate (0.0) FY 03/2025 Full-Year Results 20 Impact of foreign exchange rate (0.1) 1H ＋ 1.1 2H ＋ 2.1 General Industry Impact of increased sales + 1.5 Improving the cost of sales ratio + 0.4 Increase in SG&A expenses (0.7) ⚫ Expecting sales growth mainly in the facility business for Japan and North America ⚫ Increase in personnel expenses and digital-related costs ⚫ Improved by expansion of CSV business YoY Change + 3.3 (Organic Change + 3.4) FY 03/2026 Full-Year Forecast (Announced In Nov.) * From this fiscal year, reclassified the Europe/North America facility business for Electronics industry from General Industry segment to Electronics Industry segment, with retrospective adjustment to FY 03/2025 results.
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. 48.3 40.2 47.3 55.5 FY 03/2024 Results FY 03/2025 Results FY 03/2026 Forecast CSV Business Net Sales (Consolidated) 6.9 12.1 12.2 11.5 FY 03/2024 Results FY 03/2025 Results FY 03/2026 Forecast 41.528.1 35.0 44.0 FY 03/2024 Results FY 03/2025 Results FY 03/2026 Forecast CSV Business Net Sales (Electronics Industry) CSV Business Net Sales (General Industry) CSV Business CSV Business Net Sales (Billions of Yen) Previous Forecast (Announced in May) FY 03/2026 Forecast (Announced in Nov.) FY 03/2025 ResultsChange Consolidated 55.5 55.5 ― 47.3 Electronics Industry 11.5 11.5 ― 12.2 General Industry 44.0 44.0 ― 35.0 (Billions of Yen) (Billions of Yen) (Billions of Yen) 21 Service Business 87％ Service Business 60％ Service Business 94％
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Net Sales by Region (Billions of Yen) Previous Forecast (Announced in May) FY 03/2026 Forecast (Announced in Nov.) FY 03/2025 ResultsChange Japan 116.8 118.6 + 1.8 111.8 Asia 22.6 23.5 + 0.9 23.3 North & South America 46.4 49.3 + 2.9 49.8 EMEA 34.2 34.7 + 0.4 34.4 Total 220.0 226.0 + 6.0 219.3 (Billions of Yen) Previous Forecast (Announced in May) FY 03/2026 Forecast (Announced in Nov.) FY 03/2025 ResultsChange Japan 97.5 90.0 (7.5) 84.8 Asia 68.6 68.7 + 0.1 76.3 North & South America 34.1 30.1 (4.0) 24.4 EMEA 4.8 10.2 + 5.3 4.1 Total 205.0 199.0 (6.0) 189.6 Net Sales by Region (Consolidated) (Billions of Yen) Previous Forecast (Announced in May) FY 03/2026 Forecast (Announced in Nov.) FY 03/2025 ResultsChange Japan 214.3 208.6 (5.7) 196.6 Asia 91.1 92.2 + 1.0 99.6 North & South America 80.5 79.4 (1.1) 74.1 EMEA 39.1 44.8 + 5.8 38.5 Total 425.0 425.0 ー 408.9 General IndustryElectronics Industry ⚫ Japan: Decrease / EMEA: Increase Due to the revision of the revenue recognition region for a large-scale facility project in Europe from Japan to Europe. ⚫ North & South America: Decrease Reviewed construction schedule for a large-scale facility project ordered in the previous fiscal year. ⚫ Japan: Increase Expecting accelerated construction in the facility business. ⚫ North & South America: Increase In addition to FX impact, expecting better construction progress for municipal facility projects. * From this fiscal year, reclassified the Europe/North America facility business for Electronics industry from General Indust ry segment to Electronics Industry segment, with retrospective adjustment to FY 03/2025 results. Electronics Industry General Industry 22
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. (Billions of Yen) Previous Forecast (Announced in May) FY 03/2026 Forecast (Announced in Nov.) FY 03/2025 ResultsYoY Change Capital Expenditures (Property, Plant and Equipment*) 22.9 22.9 ー 52.3 Depreciation (Property, Plant and Equipment*) 32.5 32.5 ー 31.3 R&D Expenses 8.0 8.0 ー 8.1 Capital Expenditures, Depreciation and R&D Expenses R&D Expenses 7.4 8.1 8.0 1.9 2.0 1.9 0 1.3 2.6 0 4.0 8.0 * Right-of-use assets are included. 38.9 52.3 22.928.3 31.3 32.5 Capital Expenditures and Depreciation █ R&D Expenses█ Capital Expenditures (Property, Plant and Equipment*) FY 03/2024 Results FY 03/2025 Results FY 03/2026 Forecast FY 03/2024 Results FY 03/2025 Results FY 03/2026 Forecast ⚫ R&D Expenses Ratio (Billions of Yen) (Billions of Yen) ⚫ Forecasts for capital expenditures ,depreciation and R&D expenses remain unchanged. (%) 23 █ Depreciation (Property, Plant and Equipment*)
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Progress of Pioneering Shared Value 2027(PSV-27)3 24
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. What is Kurita 25 We harness the power of water to find answers to the challenges faced by industry and society. Through our “Holistic Optimization Approach,” which flexibly combines chemicals, facilities, and maintenance services, we deliver solutions tailored to each customer, winning the trust from more than 55,000 customers worldwide. Since our founding in 1949, our pursuit has remained the same: to achieve both customers’ business growth and a better global environment. We aim to create a virtuous cycle— where the more industry advances, the more the Earth revives. Through the evolution of Kurita Water Intelligence, which is all the knowledge, experience, and technology gained through pursuing power of water, we strive toward a better future—for both industry and the Earth. We aspire to be a company that people everywhere can say, “The world is better because Kurita is here.”
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. 0 50 100 150 200 250 300 350 400 450 Our Journey and Expanding Customer Base 26 Billions of yen Decades of Economic Transformation: Building, Growing, Thriving Expanding Business Across South America, ASEAN, and East Asia Establishing a Global Platform Through M&A in Western Markets Japan Over seas Industrial Complexes: Oil Refining, Petrochemicals, Steel, Paper & Pulp Automobiles Social Infrastructure & Energy Electronics: Semiconductor, Electronic Components, FPD and more Asia Japan North & South America EMEA Sales Composition by Customer Industry FY ended 03/2025 Semiconductor Electronic Components FPD Other Industries (e.g., HVAC) Public Oil Refining, Petrochemicals Paper & Pulp Food & Beverage Steel Power Automobile Pharmaceuticals Customers Approx. 55,000 Expanding global touchpoints by continuously addressing challenges across various industries where water is essential Group Companies 64 FY ended 03/2025 Sales Composition by Region Water treatment chemicals Others
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Strong On-Site Connections 27 Service business Solving industrial and social challenges through deep on-site connections enabled by diverse business models 73% Kurita Water treatment chemicals Water treatment facilities Diverse business models FY ended 03/2025 Production process Customer’s factory and local community Utility equipment Water treatment systems Wastewater treatment systems Wastewater reclamation systemRaw water - Industrial - Tap - Sea - Ground Rivers and sea areas Waste Recycling Soil Maintenance Soil remediation/ Environmental analysis, etc.
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Big Picture of PSV-27 28 Global Expansion of Service Business based on Facility Projects Cash Allocation New Business Beyond Water Treatment CSV Business Expansion Electronics Industry General Industry New Business Financial Strategy Achieving Management Targets of PSV - 27 Development of Holistic Optimization Approach Optimization of Business Portfolio Creation of New Business Core strategies Demonstrating knowledge of chemicals, facilities and maintenance services Focusing on markets and fields with high growth potential and attractiveness Building future growth pillars from social value Improvement of Capital Efficiency Contributing to maximizing corporate value Main strategies for PSV-27
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. 29 Market Opportunity Semiconductor market CAGR：＋8.8％ Increase in wastewater volume at a Fab Main Measures 11.5% 12.9% 13.0% -0.1 -0.05 0 0.05 0.1 0.15 0.2 0 500 1000 1500 2000 2500 3000 3500 4000 FY03/2024 FY03/2025 FY03/2026 Forecast FY03/2028 Target Service Facilities Business profit margin ¥230.0 billion¥200.0 billion ¥172.3 billion ¥189.6 billion 18.0％ Expanding our service business starting with facility projects, with capturing market opportunities in the semiconductor industry Toward Achieving the PSV-27 Plan Electronics Industry Building a global business foundation Strengthening production capacity Net sales and profitability
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. 30 Building a global business foundation Building a global production framework including service business foundation to link market growth to sales growth Japan North America EMEA India Expanding Korea China Taiwan Strong business foundation Entering Developing Expanding production capacity Production Process Reform Exploring M&A Opportunities Establish a System for Sharing Engineering Resources Expanding Electronics Industry
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. 31 Japan North America EMEA Korea China Current status of our global business foundation Continuously winning orders for large facility projects from global accounts and expanding service business starting with such facility projects FY03/2025 Q4 First project for memory maker Won order for UPW facilities FY03/2026 Q3～ Negotiations underway for the next Phase 2 project FY03/2026 Q4～ Launching precision tool cleaning services for new facility customer （foundry） FY03/2026 Q2 Continued orders for large-scale facilities （logic, power-semi, etc.） FY03/2026 Q2 Memory Won order for UPW facilities FY03/2026 Q4～ Multiple orders for large-scale facilities are expected （memory, foundry） FY03/2025 Q4 Foundry Won order for WWT/WWR facilities FY03/2026 Q3～ Negotiations underway with a memory maker for new projects FY03/2027～ Negotiations underway with a foundry for new projects UPW：Ultrapure Water WWT：Wastewater Treatment WWR： Wastewater Reclamation Electronics Industry
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. 32 Growth Pipeline High growth potential in service business enhanced with facility projects from a strong customer base Approx. 4~5% of facility orders Our SOM *2 over the next three years Approximately ￥300 billion Capital investment forecast in semi-fab over the next three years Approx. ￥50 trillion *1 Operation management Chemicals Maintenance Precision tool cleaning expected annual sales volume Water supply services Service Business - Source of sustainable growth - Investment predicted in water treatment facilities Approx. ￥2 trillion *1 Approx. 1~2% of facility orders Approx. 20% of facility investment*1 Estimated by Kurita Water Industries based on data published by SEMI *2 Serviceable Obtainable Market Electronics Industry
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. 33 Developing regional market strategies CSV business expansion Market Opportunity Main measures Emerging Market GDP Growth Sustains at +4% YoY Rising energy and water costs Presence of regions and markets with low share 10.4% 11.3% 12.4% -0.015 0.005 0.025 0.045 0.065 0.085 0.105 0.125 0.145 0 500 1000 1500 2000 2500 3000 3500 4000 FY03/2024 FY03/2025 FY03/2026 Forecast FY03/2028 Target CSV business Others Business profit margin Net Sales ratio of CSV business Approx. 30 ％ Achieving continuous growth through global market share expansion and profitability improvement Toward Achieving the PSV-27 Plan Net sales and profitability General Industry ¥240.0 billion220.0 billion 227.7 billion¥212.1 billion 14.0％
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. 34 Leveraging our global business foundation to deploy region-specific strategies, driving growth through market share expansion and improved profitability Japan North America China ASEAN Middle East Africa Latin America EMEA CSV Business Integration of Global and Regional Market Strategies General Industry Profitability improvement Market entry & share growth Market entry & share growth Market entry & share growth Market entry & share growth Share growth & profitability improvement Share growth & profitability improvement Share growth & profitability improvement Profitability improvement India
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. 35 Creating innovative CSV business models and entering new markets to strengthen our presence in emerging markets Kurita Dropwise Condensation Technology Increased sales in emerging countries (Middle East, Africa, India, Latin America) 19%FY03/2025 1H FY03/2026 1H CSV business net sales ratio Tire Manufacturer Existing markets (e.g., paper & pulp, oil refining) 29％ Net Sales：+9％ Driving Market Leadership with CSV Business Developing References Customer Value Social issue Innovation Expansion to New Customers Reduced Tire Carbon Footprint ~4 – 10% Energy Saving in Vulcanization Reduction of Ratio Steam/Tire unit during Vulcanization process Tire Vulcanization process is high - energy intense process: Carbon footprint concern General Industry
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. SOM* ◼ Maintaining high value through regular reviews ◼ Barriers to entry due to intellectual property rights, etc. Number of models SOM Total ¥100 billion 118 as of October 2025 Quality Marketing ◼ Improve the quality of sales representatives ◼ Appropriate approach to customers ◼ Collaboration within the group companies Quantity KPI *Serviceable Obtainable Market ProfitabilityKPI Acquisition rateKPI Accelerate market share and profitability through the synergetic effect of Quantity, Quality, and Strategic Marketing 36 Three Key Points for CSV Business Expansion General Industry
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. New Business Beyond Water Treatment New Business Create and launch new businesses providing future growth opportunities Water Circulation Solutions for the Space Economy Transporting water – essential for human – from Earth incurs enormous costs, creating strong demand for water treatment solutions in space environments. Kurita g roup ispace Accelerating efforts to utilize water resources on the moon Water Intelligence in the Space Field Lithium Resource Recovery With anticipated lithium supply shortages, direct lithium extraction (DLE) offers a low environmental impact and rapid production speed, demonstrating significant future market potential. Evove Technological synergy and entry into the DLE business Providing Lithium Extraction Facilities as EP+ Module model Kurita group PFAS Measures Providing solutions as a partner to our customers with identifying current and future challenges Water quality analysis Becoming a Leading Company Addressing PFAS Removal Monitoring Detoxification 37
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Global Business Foundation 38 New value created through business diversity and advanced problem-solving expands opportunities and drives premium growth. Social Issues Customer Issues New Values Chemicals Facilities Maintenance Service Expansion Deepening Industrial Diversity Creating Further New businesses New Business Expansion Expansion Deepening Expansion Deepening Deepening Flexible and Diverse Approaches Electronics industry × General industry
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Capital Allocation Policy Prioritizing capital efficiency and striking the right balance between growth investment and shareholder returns Finance Source of funds Use of funds Operating cash flow Growth investment Facility upgrades & M&A Shareholder return Debt financing as needed Shareholder returns Growth investment Organic growth Inorganic growth Share Buyback Dividends Strengthen existing foundations of growth businesses through capital investments and equipment upgrades for water supply services Pursue M&A to acquire new business foundation and create new businesses Flexible share buybacks considering stock price and optimal capital structure, reviewing the situation every quarter Continue planned dividend increases over the long term （maintaining a dividend payout ratio of 30% to 50% for the last five years） Determine priorities based on capital efficiency WACC＋ Each RiskROIC ＞ Criteria Optimize liquidity, current ratio, and equity ratio, considering bond ratings, etc. Discipline 39
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. To achieve top-line growth, pursuing growth investments through bolt-on acquisitions and entry into new business areas, looking beyond the PSV-27 Acquired company Year Head office location BK Giulini GmbH 2015 Germany Hansu Co., Ltd. 2017 Korea Fremont Industries, LLC 2017 U.S. Fracta, Inc. 2018 U.S. U.S. Water Services, Inc. 2019 U.S. Avista Technologies, Inc. 2019 U.S. Pentagon Technologies Group, Inc. 2019 U.S. Kurita AquaChemie, Ltd. 2021 UAE Keytech Water Management 2021 Canada Arcade Engineering GmbH 2023 Germany M&A conducted since 2015 Establishing Business Foundation Overseas Sales Ratio 21% → 52% FY03/2015 FY03/2025 Accelerating DX Automated design, optimal operation of water treatment facilities, etc. Mid-term M&A direction from 2025 onwards Electronics Industry Segment ⚫ Strengthening global business foundation ⚫ Establishing a service delivery system Effect New Business ⚫ PFAS ⚫ Resource recycling and utilization ⚫ Space industry General Industry Segment ⚫ Expanding the business foundation and technologies for CSV business ⚫ Global expansion of “Holistic Optimization Approach” 40 M&A StrategiesFinance Acquiring CSV business technology 27 of the 118 models utilize technology from acquired companies
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. 250 million㎥ 3,000 300％ Achieving PSV-27 and moving toward the next goal Driving progress on PSV-27 and fast-tracking readiness for the next mid-term plan FY03/2024 Results PSV-27 Post PSV-27 Financial indicators Key Non- financial indicators Net Sales Business Profit Margin ROE ROIC Amount of water savings Avoided GHG emissions Rate of increase in resource recovery or reduction of resource input ¥384.8 billion 10.9％ 9.3％ 7.2％ 90 million㎥ 733 △2％ CSV Business-based FY03/2025 Results ¥408.9 billion 12.0％ 6.1％ 8.8％ FY03/2026 Forecast ¥425.0 billion 12.7％ 10.7％ 8.7％ FY03/2028 Target ¥470.0 billion 16.0％ 12.0％ or more 10.0％ or more Further High Growth (compared with FY03/20223) 108 million㎥ 1,312 12％ 150 million㎥ 2,500 100％ 41 (compared with FY03/20223)(compared with FY03/20223)(compared with FY03/20223) thousand tons thousand tons thousand tons thousand tons or more
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Appendix4 42
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. Semiconductor market growth Semiconductor market is expected to sustain long-term growth, driven primarily by memory and logic, with top global manufacturers further strengthening their presence Sales trends of top semi-fab - global accounts - 0 1 2 3 4 5 6 CY2021 CY2022 CY2023 CY2024 CY2025 CY2025 Samsung Electronics Co Ltd Taiwan Semiconductor Manufacturing Co., SK Hynix Inc Intel Corp Micron Technology Inc ※ Created by Kurita Water Industries based on published materials from each company 0 2,000,000 4,000,000 6,000,000 8,000,000 10,000,000 12,000,000 14,000,000 16,000,000 CY2024 CY2025 CY2026 CY2027 CY2028 CY2029 CY2030 Changes in the number of processed wafers （300mm：by Application） Memory Losic Analog Opto Power Others ※ Changes in the number of processed wafers from April to June. Created by Kurita Water Industries based on SEMI data. CAGR : +8.8% 43 Index based on CY2021 Market Opportunity 1 Electronics Industry
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. 44 Increasing the difficulty and volume of wastewater recovery due to increase in dry etching processes and the growing need for green manufacturing Market Opportunity 2 Standardization Increased demand ✕ 1.2 Semiconductor Manufacturing Water Treatment Pure Water Treatment Wastewater Treatment/Reclamation Ultra Pure Water Treatment Gas Abatement System Industrial Water Groundwater Dry Etching Process Water Volume Wastewater from Dry Etching Process Used Gas Recycle Water Wastewater Wastewater Water Volume Wet Etching Process Demand for Green manufacturing Discharge into Rivers, etc. Water Volume Wastewater from Wet Etching Process Water Resources Up Electronics Industry Ultra Pure Water Volume Wastewater Volume from Dry Etching Processes ✕ 2.0
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© KURITA WATER INDUSTRIES LTD. All Rights Reserved. This presentation contains forward-looking statements, business plan projections, and judgments based on information available to management at the time of writing. Due to the existence of a variety of risk factors and uncertainties, actual results may differ from those specified or implied by these forward-looking statements and projections. Forward-looking Statements Trademarks and registered trademarks (including product names, service names, and logos) used in this report are the property of the Company or third parties.