Slides
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Q1 FY2026 Earnings Results SoftBank Group Corp. August 6 , 2026 ■ SoftBank Group
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Disclaimers This presentation provides relevant information about SoftBank Group Corp. (“SBG”) and its subsidiaries (together with SBG, the “Company”) and its affiliates (together with the Company, the “Group”) and does not constitute or form any solicitation of investment including any offer to buy or subscribe for any securities in any jurisdiction. Any offers, solicitations of offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended ("Securities Act"). The information on this slide is being presented in accordance with Rule 135 under the Securities Act. This presentation contains forward-looking statements, beliefs or opinions regarding the Group, such as statements about the Group’s future business, future position and results of operations, including estimates, forecasts, targets and plans for the Group. Without limitation, forward-looking statements often include the words such as “targets”, “plans”, “believes”, “hopes”, “continues”, “expects”, “aims”, “intends”, “will”, “may”, “should”, “would”, “could”, “anticipates”, “estimates”, “projects” or words or terms of similar substance or the negative thereof. Any forward-looking statements in this presentation are based on the current assumptions and beliefs of the Group in light of the information currently available to it as of the date hereof. Such forward-looking statements do not represent any guarantee by any member of the Group or its management of future performance and involve known and unknown risks, uncertainties and other factors, including but not limited to: the success of the Group’s business model; the Group’s ability to procure funding and the effect of its funding arrangements; key person risks relating to the management team of SBG; risks relating to and affecting the Group’s investment activities; risks relating to SB Fund (defined as below), its investments, investors and investees; risks relating to SoftBank Corp. and the success of its business; risks relating to Arm and the success of its business; risks relating to law, regulation and regulatory regimes; risks relating to intellectual property; litigation; and other factors, any of which may cause the Group’s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by such forward-looking statements. For more information on these and other factors which may affect the Group’s results, performance, achievements, or financial position, see “Risk Factors” on SBG’s website at https://group.softbank/en/ir/investors/management_policy/risk_factor. None of the Group nor its management gives any assurances that the expectations expressed in these forward-looking statements will turn out to be correct, and actual results, performance, achievements or financial position could materially differ from expectations. Persons viewing this presentation should not place undue reliance on forward looking statements. The Company undertakes no obligation to update any of the forward-looking statements contained in this presentation or any other forward-looking statements the Company may make. Past performance is not an indicator of future results and the results of the Groupin this presentation may not be indicative of, and are not an estimate, forecast or projection of the Group’s future results. The Company does not guarantee the accuracy or completeness of information in this presentation regarding companies (including, but not limited to, those in which SB Funds have invested) other than the Group which has been quoted from public and other sources. Regarding Trademarks Names of companies, products and services that appear in this presentation are trademarks or registered trademarks of their respective companies. Important Notice – Trading of SBG Common Stock, Disclaimer Regarding Unsponsored American Depositary Receipts SBG encourages anyone interested in buying or selling its common stock to do so on the Tokyo Stock Exchange, which is where its common stock is listed and primarily trades. SBG’s disclosures are not intended to facilitate trades in, and should not be relied on for decisions to trade, unsponsored American Depositary Receipts(“ADRs”). SBG has not and does not participate in, support, encourage, or otherwise consent to the creation of any unsponsored ADR programs or the issuance or trading of any ADRs issued thereunder in respect of its common stock. SBG does not represent to any ADR holder, bank or depositary institution, nor should any such person or entity form the belief, that (i) SBG has any reporting obligations within the meaning of the U.S. Securities Exchange Act of 1934 (“Exchange Act”) or (ii) SBG’s website will contain on an ongoing basis all information necessary forSBG to maintain an exemption from registering its common stock under the Exchange Act pursuant to Rule 12g3-2(b) thereunder. To the maximum extent permitted by applicable law, SBG and the Group disclaim any responsibility or liability to ADR holders, banks, depositary institutions, or any other entities or individuals in connection with any unsponsored ADRs representing its common stock. The above disclaimers apply wi th equal force to the securities of any of the Group which are or may in the future be the subject of unsponsored ADR programs, such as SoftBank Corp. or LY Corporation. Notice regarding Fund Information contained in this Presentation This presentation is furnished to you for informational purposes and is not, and may not be relied on in any manner as, legal, tax, investment, accounting or other advice or as an offer to sell or a solicitation of an offer to buy limited partnership or comparable limited liability equity interests in any fund managed by a subsidiary of SBG, including SB Global Advisers Limited (“SBGA”), SB Investment Advisers (UK) Limited (“SBIA”), and any of their respective affiliates thereof (collectively, the “SB Fund Managers” and each an “SB Fund Manager”) (such funds together with, as the context may require, any parallel fund, feeder fund, co-investment vehicle or alternative investment vehicle collectively, the “SB Funds” and each an “SB Fund”). For the avoidance of doubt, the SB Funds include, among other funds, SoftBank Vision Fund L.P. (together with, as the context may require, any parallel fund, feeder fund, co- investment vehicle or alternative investment vehicle, the “Vision Fund I”), which are managed by SBIA and its affiliates; SoftBank Vision Fund II-2 L.P. (together with, as the context may require, any parallel fund, feeder fund, co-investment vehicle or alternative investment vehicle, the “Vision Fund II”), which are managed by SBGA and its affiliates; and SBLA Latin America Fund LLC (together with, as the context may require, any parallel fund, feeder fund, co-investment vehicle or alternative investment vehicle, the “SoftBank Latin America Fund”), which are managed by SBGA and its affiliates. None of the SB Funds (including the Vision Fund I, Vision Fund II and SoftBank Latin America Fund), the SB Fund Managers any successor or future fund managed by an SB Fund Manager, SBG or their respective affiliates makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein and nothing contained herein should be relied upon as a promise or representation as to past or future performance of the SB Funds or any other entity referenced in this presentation, or future performance of any successor or the future fund managed by an SB Fund Manager. Information relating to the performance of the SB Funds or any other entity referenced in this presentation has been included for background purposes only and should not be considered an indication of the future performance of the relevant SB Fund, any other entity referenced in this presentation or any future fund managed by an SB Fund Manager. References to any specific investments of an SB Fund, to the extent included therein, are presented to illustrate the relevant SB Fund Manager’s investment process and operating philosophy only and should not be construed as a recommendation of any particular investment or security. The performance of individual investments of an SB Fund may vary and the performance of the selected transactions is not necessarily indicative of the performance of all of the applicable prior investments. The specific investments identified and described in this presentation do not represent all of the investments made by the relevant SB Fund Manager, and no assumption should be made that investments identified and discussed therein were or will be profitable. The performance of an SB Fund in this presentation is based on unrealized valuations of portfolio investments. Valuations of unrealized investments are based on assumptions and factors (including, for example, as of the date of the valuation, average multiples of comparable companies, and other considerations) that the relevant SB Fund Manager believes are reasonable under the circum stances relating to each particular investment. However, there can be no assurance that unrealized investments will be realized at the valuations indicated in this presentation or used to calculate the returns contained therein, and transaction costs connected with such realizations remain unknown and, therefore, are not factored into such calculations. Estimates of unrealized value are subject to numerous variables that change over time. The actual realized returns on the relevant SB Fund’s unrealized investments will depend on, among other factors, future operating results, the value of the assets and market conditions at the time of disposition, any related transaction costs and the timing and manner of sale, all of which may differ from the assumptions and circumstances on which the relevant SB Fund Manager’s valuations are based. Past performance is not necessarily indicative of future results. The performance of an SB Fund or any future fund managed by an SB Fund Manager may be materially lower than the performance information presented in this presentation. There can be no assurance that each SB Fund or any future fund managed by the relevant SB Fund Manager will achieve comparable results as those presented therein. Third-party logos and vendor information included in this presentation are provided for illustrative purposes only. Inclusion of such logos does not imply affiliation with or endorsement by such firms or businesses. There is no guarantee that an SB Fund Manager, an SB Fund’s portfolio companies, any future portfolio companies of a future fund managed by an SB Fund Manager or SBG will work with any of the firms or businesses whose logos are included in this presentation in the future. SBGA and SBIA manage separate and independent operations and processes from each other and those of SBG in the management of Vis ion Fund I, Vision Fund II and SoftBank Latin America Fund, respectively. Any SB Funds managed by SBGA or SBIA are solely managed by SBGA or SBIA respectively.
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3 1.5 1.8 1.8 2.0 2.2 2.1 2.1 2.0 2.4 2.9 3.5 3.8 5.7 1.1 1.1 1.4 1.6 2.2 2.2 2.6 2.8 1.8 1.3 0.7 2.2 2.4 2.5 2.9 2.9 2.7 2.9 2.6 2.9 2.8 2.3 2.4 2.4 7.3 7.3 7.3 8.1 8.5 7.6 8.3 7.7 8.8 11.1 14.3 17.9 20.8 3.4 3.9 6.1 13.2 19.4 14.4 13.4 10.6 16.5 15.2 10.1 15.9 43.4 15.5 16.4 19.2 27.8 35.3 29.0 29.3 25.7 32.4 33.3 30.9 40.1 72.3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Record-High NAV at June-End (¥ T) Record High FY2024FY2023 FY2025 FY2026 Arm SVF1/SVF2/ LatAm SoftBank Corp. T-Mobile Other Apportioned based on the proportionated value of each equity holding at the end of each quarter For details on NAV, see Appendix “Definition and Calculation Method of NAV and LTV” in each quarter’s earnings presentation. For details on NAV as of Q1 FY2026, see Appendix “Definition and Calculation Method of NAV and LTV.” NAV trends are not indicative of future values and should not be construed as an indication of the value of any securities, i ncluding SBG’s common stock, or as investment advice. (+¥32T QoQ) ($445.2B) 3
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4 1.5 1.8 1.8 2.0 2.2 2.1 2.1 2.0 2.4 2.9 3.5 3.8 5.7 4.9 1.1 1.1 1.4 1.6 2.2 2.2 2.6 2.8 1.8 1.3 0.7 2.2 2.4 2.5 2.9 2.9 2.7 2.9 2.6 2.9 2.8 2.3 2.4 2.4 2.7 7.3 7.3 7.3 8.1 8.5 7.6 8.3 7.7 8.8 11.1 14.3 17.9 20.8 19.6 3.4 3.9 6.1 13.2 19.4 14.4 13.4 10.6 16.5 15.2 10.1 15.9 43.4 31.1 15.5 16.4 19.2 27.8 35.3 29.0 29.3 25.7 32.4 33.3 30.9 40.1 72.3 58.3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Apportioned based on the proportionated value of each equity holding at the end of each quarter For details on NAV, see Appendix “Definition and Calculation Method of NAV and LTV” in each quarter’s earnings presentation. For details on NAV as of Q1 FY2026 and the related pro forma figures, see the Appendix, “Definition and Calculation Method of NAV and LTV.” NAV trends are not indicative of future values and should not be construed as an indication of the value of any securities, i ncluding SBG’s common stock, or as investment advice. FY2024FY2023 FY2025 FY2026 Q1 Pro Forma Stock prices and FX rates as of August 5, 2026 applied Arm SVF1/SVF2/ LatAm SoftBank Corp. T-Mobile Other NAV Has Recently Pulled Back (¥ T) 4
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5 NAV Grew Significantly over the Long Term Despite Short-Term Fluctuations Q1 FY2026 Q4 FY1998 72.3 Alibaba Yahoo Japan 40.1 58.3 (¥ T) Q1 FY2026 Pro Forma Apportioned based on the proportionated value of each equity holding at the end of each quarter Before tax. Equity value of holdings and SBG’s net debt are both adjusted for asset -backed financing. For details on NAV as of Q1 FY2026 and the related pro forma figures, see the Appendix, “Definition and Calculation Method of NAV and LTV.” NAV trends are not indicative of future values and should not be construed as an indication of the value of any securities, i ncluding SBG’s common stock, or as investment advice. 5 Arm SVF1/SVF2/ LatAm SoftBank Corp. T-Mobile Other
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6 AI Chip AI Model AI Infrastructure Physical AI This slide uses generative AI-generated images for illustrative purposes. They do not represent actual products or indicate future realization. Robo HD 6
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77 To Become the No.1 ASI Platform Provider At AGM, Jun 24, 2026
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8 Q1 FY2026 Highlights Net income: Net income attributable to owners of the parent 1 3 $20B follow-on investments in OpenAI (Apr and Jul 2026) 2 NAV at ¥72.3T, highest-ever (as of Jun 30, 2026) 4 Announced plans to develop 5 GW AI data center in France (Jun 2026) ¥1.86T investment gain; ¥347.3B net income (+¥1.37T YoY) (-¥74.5B YoY)
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9Some figures are rounded and may not add up to the figures presented as the total. Consolidated Results
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10 FY2025 Q1 FY2026 Q1 Change Net Sales 1,820.3 2,019.6 +199.3 Gain/loss on Investments 486.9 1,859.4 +1,372.4 Income Before Income Tax 689.9 589.2 -100.8 Net Income 421.8 347.3 -74.5 Consolidated Results Net income: Net income attributable to owners of the parent Some figures are rounded and may not add up to the figures presented as the total. Investment gains up significantly YoY (¥ B)
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11 Investment Gain/Loss and Net Income Net income: Net income attributable to owners of the parent Investment gains driven by fair value increases in Intel and ByteDance 559.7 2,091.3 -481.0 1,531.1 486.9 3,439.7 293.7 3,066.2 1,859.4 -174.3 1,179.6 -369.2 517.2 421.8 2,502.2 248.6 1,829.6 347.3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY2024 FY2025 FY2026 Investment Gain/Loss Net Income Intel ¥1,332.9B ByteDance ¥358.4B (¥ B)
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12 Key Indicators For details on NAV and LTV, see the Appendices,“Definition and Calculation Method of NAV and LTV (as of Mar 31, 2026)” and “Definition and Calculation Method of NAV and LTV (as of Jun 30, 2026).” Cash position: Cash and cash equivalents + short-term investments recorded as current assets + bond investments + undrawn borrowing capacity. Excludes the outstanding balance of the prime brokerage loan by SB Northstar, collateralized primarily by a portion of bond investments included in SBG stand- alone cash position at each period-end (¥801.9B as of Mar 31, 2026 and ¥684.9B as of Jun 30, 2026). Significant NAV growth, with LTV remaining at an extremely safe level, while the cash position declined NAV (Net Asset Value) LTV (Net debt / Equity value of holdings) Cash Position Mar 31, 2026 Jun 30, 2026 ¥72.3T ¥2.3T 13.0% ¥40.1T ¥3.5T 17.0%
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13 NAV Apportioned based on the proportionated value of each equity holding at the end of each quarter For details on NAV, see Appendix “Definition and Calculation Method of NAV and LTV” in each quarter’s earnings presentation. For details on NAV as of Q1 FY2026 and the related pro forma figures, see the Appendix, “Definition and Calculation Method of NAV and LTV.” NAV trends are not indicative of future values and should not be construed as an indication of the value of any securities, i ncluding SBG’s common stock, or as investment advice. (¥ T) FY2024 FY2026FY2025 2.2 2.1 2.1 2.0 2.4 2.9 3.5 3.8 5.7 4.92.2 2.2 2.6 2.8 1.8 1.3 0.72.9 2.7 2.9 2.6 2.9 2.8 2.3 2.4 2.4 2.7 8.5 7.6 8.3 7.7 8.8 11.1 14.3 17.9 20.8 19.6 19.4 14.4 13.4 10.6 16.5 15.2 10.1 15.9 43.4 31.1 35.3 29.0 29.3 25.7 32.4 33.3 30.9 40.1 72.3 58.3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Pro Forma Stock prices and FX rates as of Aug 5, 2026 applied Highest-ever Arm SVF1/SVF2/LatAm SoftBank Corp. T-Mobile Other
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14 15.9% 18.7% 21.6% 20.4% 14.5% 15.0% 18.2% 11.0% 8.0% 10.6% 11.5% 8.4% 7.8% 12.5% 12.9% 18.0% 17.0% 16.5% 20.6% 17.0% 13.0% 0% 10% 20% 30% 40% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 35% (extraordinary circumstances) Below 25% (normal circumstances) LTV As of the end of each quarter For details on LTV, see the Appendix, “Definition and Calculation Method of NAV and LTV” in each quarter’s earnings presentation. Net of asset-backed finance FY2024FY2023 FY2025 Remained at a very safe level FY2021 FY2022 FY2026
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15 Cash Position Cash position: Cash and cash equivalents + short-term investments recorded as current assets + bond investments + undrawn borrow ing capacity. The undrawn borrowing capacity as of Jun 30, 2026 is ¥489.5B. Excludes ¥684.9B in outstanding prime brokerage borrowings of SB Northstar, collateralized primarily by a portion of the bond investments included in SBG’s stand- alone cash position. Maintaining a cash position above 2 years’ worth of bond redemptions 2.3 0.6 0.9 Q1 (¥ T) After 1 year After 2 years Jul 2026 – Jun 2027 Jul 2027 – Jun 2028 Bond redemptions over the next 2 years ¥1.5T FY2026 Cash Position
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17 585 715 468 574 ($ M) License and other revenue Royalty revenue Q1 FY2026 Q1 FY2025 Revenue (Source) Arm US-GAAP. License and other revenue refers to revenue excluding royalty revenue. See Arm Investor Relations website (https://investors.arm.com/) for details. Record Q1 revenue 1,289 1,053 22% Increase
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18 ($) 0.45 0.35 Fully Diluted Earnings per Share (Source) Arm Fully diluted earnings per share refers to Non-GAAP fully diluted earnings per share. Visit Arm Investor Relations website (https://investors.arm.com/) for details. Record Q1 EPS 29% Increase Q1 FY2026 Q1 FY2025
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19 $1.38B $0.47 Guidance (Source) Arm Fully diluted Earnings per Share refers to Non-GAAP fully diluted earnings per share Visit Arm Investor Relations website (https://investors.arm.com/) for details. Analyst consensus was compiled by SBG based on FactSet data as of Arm’s earnings announcement on Jul 29, 2026. Q2 FY2026 Company Guidance (Midpoint) Analyst Consensus (As of Arm’s earnings announcement) +/- $50M +/- $0.04 (YoY) Revenue Fully diluted earnings per share (YoY) (+21.6%) (+20.5%) > > $1.35B $0.44
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20 Arm-Based CPU Cores for Data Centers (Source) Arm. Cumulative shipments of Arm-based CPU cores refer to shipments of Neoverse cores. Actual shipments of Arm-based chips are reported by licensees with a one-quarter lag from the time of shipment. Shipments from A pr–Jun 2026 are based on estimates. 1.5B+ cores Launch of data center IP products Arm-based CPU Cores for Data Centers (Cumulative Shipments) Jun 30 2026 Jun 30 2023 Jun 30 2022 Jun 30 2019 Jun 30 2018 Jun 30 2021 Jun 30 2020 Jun 30 2025 Jun 30 2024 2018 AWS Graviton announced 2021 NVIDIA Grace announced 2023 Microsoft Cobalt announced 2024 Google Axion announced IP Business
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21 Adoption by Technology Companies Drives Growth (Source) Arm ~50% of CPU chips shipped to leading hyperscalers are Arm-based: Approximately 50% of the chips shipped to hyperscalers in 2025 used Arm-based technology. ~50% of the CPU chips shipped to leading hyperscalers were Arm-based Armv9-based CPU AWS Graviton Armv9 / CSS-based CPU Microsoft Cobalt Armv9-based CPU Google Axion Armv9-based CPU IP Business NVIDIA Grace
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22 Arm AGI CPU (Source) Arm World’s most efficient agentic CPU Up to $10B CAPEX savings (vs. x86; per 1 GW of data center capacity) Chip Business
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23 Two More Companies Join as Launch Partners (Source) Arm Co - development New Arm AGI CPU Launch Partners New Chip Business
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24 Accelerating Arm IP Adoption in Windows PCs Accelerating Market Share Expansion in PCs (Source) NVIDIA’s press release “NVIDIA and Microsoft Reinvent Windows PCs for the Age of Personal AI” dated May 31, 2026 NVIDIA RTX Spark A chip for PCs combining an Arm-based Grace CPU and an NVIDIA Blackwell GPU Features a 20-core Arm-based Grace CPU Supports high-performance PC use cases, including video editing, gaming and AI development IP Business (Announced in May 2026)
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26 Cumulative Investment Amount in OpenAI The investment amount includes indirect investments and is presented net of disposals. $20B in follow-on investments made in FY2026. The remaining $10B investment will bring total investment to $64.6B and ownership to ~13% ($ B) 1st tranche (Funded on Apr 1) 2nd tranche (Funded on Jul 1) 3rd tranche (Planned on Oct 1) 2.2 2.2 32.4 32.4 10.0 10.0 10.0 As of Mar 31, 2025 As of Mar 31, 2026 As of Oct 1, 2026 (planned) 2.2 34.6 64.6
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27 Diverse Product Portfolio Built on AI Models (Source) OpenAI Advances in AI models (GPT) improve performance across the entire product portfolio AI Model (GPT) Consumer AI (ChatGPT) AI for business users (ChatGPT Work / Codex) AI app development platform (OpenAI API) Enterprise AI agent platform (OpenAI Frontier) ・・・
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28 OpenAI’s AI Models Continue to Evolve (Source) OpenAI blog GPT-4 （2023年リリー ス） AI that solves problems AI that gets work done GPT-5.6 (Released in Jul 2026) AI that answers questions GPT-4 （2023年リリー ス） GPT-5 (Released in Aug 2025) AI that performs tasks AI agent capabilities GPT-3.5 (Released as ChatGPT in Nov 2022) GPT-4 (Released in Mar 2023)
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29 53.6 40.5 32.1 763 2,315 2,018 GPT-5.6 Delivers High Performance and Cost Efficiency (Source) OpenAI blog dated Jul 9, 2026 AI benchmark for professional work: Agents’ Last Exam Score: Average score achieved on professional tasks in Agents’ Last Exam. Cost: Estimated API run cost. The estimated cost of running the benchmark via API. This differs from subscription fees for ChatG PT, Claude, and other services. Actual charges vary depending on token usage, reasoning settings, prompt caching, and the applic able plan or contract. GPT-5.6 refers to GPT-5.6 Sol with the reasoning effort set to Xhigh. Gemini 3.1 Pro Preview refers to Gemini 3.1 Pro Preview with the reasoning effort set to Xhigh. Claude Fable 5 refers to Claude Fable 5 with the reasoning effort set to Adaptive. AI Evaluation for Professional Work (Developed by UC Berkeley and Others) OpenAI (GPT-5.6 Sol) OpenAI (GPT-5.6 Sol) Google (Gemini 3.1 Pro Preview) Anthropic (Claude Fable 5) Google (Gemini 3.1 Pro Preview) Anthropic (Claude Fable 5) (%) ($)Score Cost
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30 (Source) OpenAI blog posts dated Mar 31, Apr 21, 2026, and Codex Engineering Lead, Thibault Sottiaux’s X post dated Jul 22, 2026 10M users: Combined weekly active users of Codex and ChatGPT Work Integrated into ChatGPT Work, Codex continues to gain traction among business users Codex Adoption Continues to Expand Jul 2026Apr 2026 4+ 25x in 7 months (M users) Weekly Active Users (Codex + ChatGPT Work) 10 ~0.4 Dec 2025
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31 At SoftBank World 2026 held on Jul 14, 2026 31 Full-Scale Launch of PaaS (Jul 14, 2026) For details, see SBG’s press release “The SoftBank Group Announces ‘Patching as a Service’ Cybersecurity Solution Powered by OpenAI to Secure Critical Infrastructure in Japan” dated Jun 16, 2026 and SoftBank Corp.’s press release “SoftBank Corp. and SB OAI Japan Expand Rollout of OpenAI-Powered ‘Patching as a Service’ to 3,000 Eligible Companies and Fully Launch the Service” dated Jul 14, 2026. Supporting cybersecurity for companies operating Japan’s critical infrastructure through Patching as a Service
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32 Vulnerability Assessment Code Modernization PaaS Rollout to 3,000 Companies in Japan For details, see SBG’s press release “The SoftBank Group Announces ‘Patching as a Service’ Cybersecurity Solution Powered by OpenAI to Secure Critical Infrastructure in Japan” dated Jun 16, 2026 and SoftBank Corp.’s press release “SoftBank Corp. and SB OAI Japan Expand Rollout of OpenAI-Powered ‘Patching as a Service’ to 3,000 Eligible Companies and Fully Launch the Service” dated Jul 14, 2026. Further strengthening defenses against cyberattacks Patches (Software programs that fix vulnerabilities and software defects) PaaS Planned for future release
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33 AI Infrastructure
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34 AI Data Center Portfolio Advancing AI data center development across three core locations Hauts-de-France Pike County, Ohio Milam County, Texas
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3535 5 GW capacity of data center refers to gross power capacity. Jun 2026 | 2026 Choose France Summit Announced Plans to Develop 5 GW AI Data Center in France 35
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36 Phase 1: €45B investment to deliver 3.1 GW of AI data center capacity in northern France by 2031 Develop 5 GW of AI Data Center Capacity For details, see SBG’s press release “SoftBank Group to Build 5 GW of AI Data Center Capacity in France” dated May 31, 2026. 3.1 GW capacity of data center refers to gross power capacity. Hauts-de-France
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37 1 GW Bosquel AI Data Center 1 GW capacity of data center refers to gross power capacity. Fast track designation by the French government 1 GW of power secured Accelerated grid connection
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38 Building Supply Chain for AI Data Center Equipment For details, see SBG’s press release “SoftBank Group to Build 5 GW of AI Data Center Capacity in France” dated May 31, 2026. Establishing a local supply chain for power modules in Dunkirk to accelerate data center development Power modules
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39 10 GW capacity of data center refers to gross power capacity. PORTS Technology Campus Pike County, Ohio, U.S. 10 GW Large - Scale Data Center Project In discussions toward execution of a lease agreement Construction expected to start in 2026 39
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40 Milam County, Texas, U.S. AI Data Center Building 1 (308 MW-IT) construction on track for delivery to OpenAI 40
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41 Overview of SB Energy (Source) SB Energy Integrated development of power and AI data centers Established 2019 Headquarters California Business overview Integrated development of power infrastructure and data centers, together with related services Employees ~350 SB Energy, Co-CEO Rich Hossfeld SB Energy, Co-CEO Abhijeet Sathe 20+ 30+ years of industry experience years of industry experience
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42 Proven Execution Supporting Large-Scale AI Infra Development (Source) SB Energy website. GW: GWac ~$19B ~5 GW Cumulative Project Capital Raised Operating and Under-Construction Power Generation and Storage Capacity
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43 (Source) SB Energy Confidential Submission of a Draft Registration Statement on Form S-1 (May 2026)
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44 Providing AI compute via the cloud Preparing to Launch Neocloud Services in the U.S. This represents the current concept and may be subject to change based on further discussions. Neocloud Business Illustrative business model Investment SB Neo, Inc. SPC (Special Purpose Company) Considering financing through non-recourse loans 51% 49% Power, AI data centers, etc. Offtakers (Hyperscalers, etc.) Cloud service
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45 SVF SVF: SoftBank Vision Funds Segment. Includes SVF1, SVF2, and LatAm. Some figures in this presentation are rounded and may not add up to the figures presented as the total.
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46 Gain/Loss on Investments (cumulative): Cumulative gain/loss on investments at SoftBank Vision Funds segment since Q1 FY2017. Includes derivative gains and losses. Before deducting third-party interests, tax, and expenses. Before translation into yen f or the Company’s consolidated financial statements. The information contained herein is provided solely for illustrative purposes on an SBG basis and individual investors‘ resul ts may vary. Furthermore, past performance is not necessarily indicative of future results. Income before income tax reflects unrea lized estimated amounts and does not take into account fees or expenses at the time of exit, and should not be construed as indicative of actual or futur e performance and for the avoidance of doubt, should not be understood as the "track record" for SVF1, SVF2 and LatAm. There is no guarantee that historical trends will continue throughout the life of SVF1, SVF2, and LatAm. There can be no assurance that unrealized investments will be sold for values equal to or in excess of the total values used i n calculating the values portrayed herein. Actual returns on unrealized and partially realized investments will depend on, among other factors, the value of the assets and market conditions at the time of disposition, any r elated transaction costs and the timing and manner of sale, all of which may differ from the assumption on which the valuations reported herein are based. Accordingly, investments that are unrealized or partially realized may differ materially from the values indicated herein. Investment Gain/Loss (Cumulative) 2017 2018 2019 2020 2021 2022 2023 2024 2025 9581,743 2,3733,088 5,373 8,242 12,849 16,398 20,166 11,403 9,655 -1,093 1,876 12,786 26,353 60,821 66,375 55,874 56,825 31,262 8,526 -1,414 -6,588 -8,365 -7,208 -7,061 -2,975 -3,364 -3,352 698 -1,634 -475 4,532 23,578 26,012 45,700 47,293 SVF Segment ($ M) SVF1: +$26.6B SVF2: +$21.3B LatAm+others: -$0.7B (FY)2026
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47 ($ M) Breakdown of Gain/Loss on Investments (Q1 FY2026) Gain/Loss on investments (Q1 FY2026): Gain/loss on investments at SoftBank Vision Funds segment for Q1 FY2026. Includes deriv ative gains and losses. Before deducting third-party interests, tax, and expenses. Before translation into yen for the Company’s consolidated financial statements. The main factors of the change in valuation in Q1 FY2026 of each portfolio company are indicated based on the classi fication determined as reasonable by SBGA and SBIA. Although SBGA and SBIA believe that such determinations are reasonable, they are inherently subjective in nature. Market factors include changes in valuation due to changes in the valuation of public comparable companies, and changes in cost of capital, etc. Others include exited investments representing proceeds from investments exited in Q1 FY2026, net of the investment cost, interest and dividend income from investments, and forex impact, etc. Public portfolio companies include those traded in t he over-the-counter market but exclude crypto -currency tokens and any indirect interests in public securities held via entities that are wholly owned or controlled by SBG and SVF2. Recent transactions Primarily PayPay Market factors Public Others 2,221 -407 -1,249 232 168 417 326 -52 SVF1 +$2,394M SVF2 + LatAm + others -$801M Public Performance Market factors Others Primarily ByteDance SVF Segment
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48 0.2 90.8 116.7 7.8 7.1 11.2 7.1 109.8 131.1 0.619.5 27.3 18.9 12.9 48.8 73.0 87.2 113.8($ B) SVF1 SVF2 The information contained herein is provided solely for illustrative purposes on an SBG basis and individual investors' resul ts may vary. Furthermore, past performance is not necessarily indicative of future results. Income before income tax reflects unrealized estimated amounts and does not tak e into account fees or expenses at the time of exit, and should not be construed as indicative of actual or future performance and for the avoidance of doubt, should not be understood as the "track record" for SVF1, SVF2, and LatAm. There is no guarantee that historical trends will continue throughout the life of SVF1, SVF2, and LatAm. There can be no assurance that unrealized investments will be sold for values equal to or in excess of the total values used in calculating the values portrayed herein. A ctual returns on unrealized and partially realized investments will depend on, among other factors, the value of the assets and market conditions at the time of disposition, any r elated transaction costs and the timing and manner of sale, all of which may differ from the assumption on which the valuations reported herein are based. Accordingly, investments that are unrealized or partially realized may differ materially from the values indicated herein. Cumulative Investment Return (As of Jun 30, 2026) Exited Public Companies (investments before exit) Private Companies (investments before exit) Interests/Dividends Cumulative investment return: Before deducting third-party interests, taxes, and expenses. Exited: represents the exit price of investments, net of the investment cost. The classification of portfolio companies as public/private is based on their status as of Jun 30, 2026. Public companies (investments before exit): Includes portfolio companies traded in the over -the-counter market. Excludes crypto-currency tokens and any indirect interests in public securities held via entities that are wholly owned or controlled by SBG and SVF2. For a certain investment that was initially determined to be transferred from the Company to SVF1 but later canceled, any gai ns and losses incurred for the period leading up to the decision to cancel the transfer are not included in cumulative investment return in the presentation. Interests/Dividends: Interest and dividend income from investments The investment amount in OpenAI includes indirect investments and is presented net of disposals. Cumulative Investment Return (FV + Sale Price) Cumulative Investment Cost Cumulative Investment Return (FV + Sale Price) Cumulative Investment Cost Incl. OpenAI 44.6 Incl. OpenAI 89.6 SVF Segment
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49 4 24 189 72 256 102 539 1,191 999 713 766 843 394 1,265 1,396 1,277 466 441 717 790 1,032 466 1,522 1,497 1,816 1,656 1,440 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Sales of investments: As reported under “Proceeds from sales of investments by SVF” in the Consolidated Statement of Cash Flows, excluding the additional $1.0 billion syndicated to co- investors in connection with the follow-on investment in OpenAI made in Apr 2025. Successful Investment Monetization Steady progress in realizing returns from both public/private investments FY2024 FY2025 FY2026 ($ M) Public Investments Private Investments Sales of Investments SVF Segment Key Past Divestments of Public Investments (Fully exited) (Fully exited)
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50 (Source) SBGA/SBIA analysis The number of public listings (since inception) includes companies invested in on IPO/public listing date as well as companies t hat were subsequently exited or delisted. WeWork and Full Truck Alliance are counted as one listing each, despite being both SVF1 and SVF2 Investments. Total fair value of late-stage portfolio includes portfolio companies that have raised Series E onwards or equivalent late- stage rounds. OpenAI is included as a “late-stage” portfolio company based upon its significant fundraising history and most recent valuation. Selected companies include the largest private investments by fair value that have raised a Series E or equivalent late-stage round as of Jun 30, 2026, or are likely to publicly list in the near-term based on SBGA/SBIA Analysis. Select investments presented herein are solely for illustrative purposes, have been selected in order to provide examples of inv estments made by SVF1, SVF2, and LatAm that have raised Series E or other equivalent late-stage rounds or have gone public, and do not purport to be a complete list of investments. References to investments included herein should not be construed as a recommendation of any particular investment or security. It should not be assumed that investments made in the future will be comparable in quality or performance to the investments described herein. It is not guaranteed that “late-stage” portfolio companies will go public soon or at any time in the future. Past performance is not indicative of future results. See visionfund.com/portfolio and lat americafund.com/portfolio for a more complete list of portfolio companies. Public Listings and Pipeline A robust pipeline for future public listings Public Listings 62listings Late-Stage Portfolio Total Fair Value: $133B (+$15B QoQ)(Jun 30, 2026)Since Inception Select portfolio companiesFiled for IPO (Formerly OYO) ($89.6B)
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51 (Source) Oravel Stays Limited (Prism) website and UDRHP Revenue and EBITDA were converted at the exchange rate as of Jun 30, 2026 ($1 = INR94.7). Prism (Formerly OYO) Operates a global hospitality platform. Supports accommodation partners with demand generation, dynamic pricing, revenue management and day-to-day operations SVF1 Initial Investment Q2 FY2017 Global Storefronts 294,000 (as of Dec 31, 2025) Revenue ~$730M (Apr - Dec 2025) EBITDA ~$225M (Apr - Dec 2025)
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52(Source) Klook website and registration statement on Form F -1 Klook Offers an online platform for travelers to discover and book tours, activities, transportation, hotels and more around the world Initial Investment Q1 FY2019 GTV $2.3B (Jan - Sep 2025) (+30.9% YoY) Revenue $407M (Jan - Sep 2025) (+43.5% YoY) SVF1
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53 Making T&D Financial Life a Subsidiary (Announced on Jun 4, 2026) The consummation of the Share Acquisition is expected to be completed in Oct 2027, subject to obtaining required approvals and permits from the relevant authorities, the implementation of an IFRS transition plan at T&D Financial Life, and the satisfacti on of other conditions precedent set forth in the Share Purchase Agreement between PayPay and T&D Holdings. Acquisition price: Estimated amount excluding acquisition-related expenses of approximately ¥2.4 billion. Announced the acquisition of T&D Financial Life. Aims to provide comprehensive financial services 14.9% 14.9%70.2% Asset management company 100% (Acquisition price: ~¥132.0B) Current Structure After Completion of the Share Acquisition (Expected in Oct 2027)
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54 Capital and Business Alliance with Seven & i HD (Announced on Jul 31, 2026) 2.13%: Calculated based on the total number of issued shares (excluding treasury stock) of Seven & i Holdings as of May 31, 2026, taking into account the disposal of treasury shares by way of third- party allotment and the acquisition of treasury shares announced by Seven & i Holdings on Jul 31, 2026 No1. Retailer: SEVEN-ELEVEN JAPAN CO., LTD. operates the largest number of stores in Japan. No1. Payment: PayPay processes the highest number of payment transactions in Japan. (Source) PayPay calculations based on publicly available data, including the Ministry of Economy, Trade and Industry’s release, “2025 Ratio of Cashless Payment Among the Total Amount Paid by Consumers Calculated.” See press releases issued by each company and PayPay's FY2026Q1 Earnings Presentation for details. Combining the strengths of each company to shape next-generation customer experiences and infrastructure for everyday convenience Stores: ~22,000 Customer visits: ~20M/ day Physical Customer Touchpoints Payment Platform Users: ~75M Transactions: ~30M/ day No.1 Payment✕No.1 Retailer User ID Data Points ¥100.0B (2.13%) ¥100.0B (2.13%) ¥100.0B (2.13%) Customer Base Integration and Data UtilizationCapital Alliance Overview
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55 Physical AI
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56 Physical AI Deployment Accelerates Select robotics-related portfolio companies held by SBG, its major wholly owned subsidiaries, and SVF. Commercial deployment accelerating across the portfolio Acquisition planned in 2026
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57 Financial Policy Some figures in this presentation are rounded and may not add up to the figures presented as the total.
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58 Financial policy remains unchanged Financial Policy Maintain LTV below 25% in normal circumstances (upper threshold of 35% even in extraordinary circumstances) Maintain at least 2 years’ worth of bond redemptions in cash position
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59 Investment Amount (SBG + SVF) SBG investment amount: Investments made by SBG, its major wholly owned subsidiaries, and Robo Holdings, excluding intra- group transactions and investments in bonds. For Ampere, the amount represents expenditures related to the acquisition of the company including payments to Arm. For other investments resulting in the acquisition of subsidiaries, the amount is based on "Payments (net) for acquis ition of control over subsidiaries" in the Consolidated Statement of Cash Flows. SVF investment amount: Corresponds to "Payments for acquisition of investments by SVF" in the Consolidated Statement of Cash Flows. For OpenAI, the investment amount is presented net of proceeds from sales. ($ B) 0.8 2.1 1.9 0.3 3.1 6.5 5.47.5 1.1 23.8 10.0 10.0 10.0 8.3 3.2 0.1 10.3 18.5 Q1 Q2 Q3 Q4 Q1 32.3 FY2025 Others FY2026 Ampere Committed Investment Amount Planned in Oct Funded in Apr Jul 1, 2026 Funded in Jul
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60 Key Financings since July For details of the financing using OpenAI shares, see “(3) Financing at SVF2” under “16. Significant subsequent events” in “( 7) Notes to Condensed Interim Consolidated Financial Statements” in “3. Condensed Interim Consolidated Financial Statements and Primary Notes” of SBG’s Financial Report for Q1 FY2026. Entered into a financing agreement using OpenAI shares Arranged LBO financing ahead of the acquisition of ABB’s robotics business (Aug 2026) (Aug 2026) $10B $1.8B
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61 4 5 6 7 8 9 10 11 12 13 14 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 '26 Historical Credit Ratings As of Aug 6, 2026 S&P revised its outlook from Negative to Stable (CY) A+ A A- BBB+ BBB BBB- BB+ BB BB- B+ BB+ S&P Acquisition of Japan Telecom Acquisition of Vodafone KK Acquisition of Sprint Acquisition of Arm Listing of SBKK Listing of Arm Announced follow-on investments in OpenAI A JCR (Outlook: Negative) Outlook Negative → Stable (Jul 16, 2026)
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62 AI Chip AI Model To become the No.1 ASI platform provider AI Infrastructure Physical AI This slide uses generative AI-generated images for illustrative purposes. They do not represent actual products or indicate future realization. Robo HD 62
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65 Appendix Some figures in this presentation are rounded and may not add up to the figures presented as the total.
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66 Monetization and Capital Allocation (Q1 FY2026) (¥ T) For changes in amounts, foreign currency-denominated bonds with contracted swaps are converted at the applicable swap rate; all others are converted using the average rate for Q1 FY2026 or the rate at execution. Cash position: Cash and cash equivalents + short-term investments recorded as current assets + bond investments + undrawn borrow ing capacity. Undrawn borrowing capacity as of Jun 30, 2026 is ¥489.5B (commitment line). Excludes ¥684.9B ($4.2B) in outstanding prime brokerage borrowings of SB Northstar, collateralized primarily by a portion of the bond investments included in SBG’s stand- alone cash position. Debt finance: Net amount of domestic hybrid bonds issued (+¥678.0B), USD -denominated senior bonds issued (+$1.5B), EUR-denominated senior bonds issued (+€1.75B), domestic senior bonds redeemed ( -¥30.0B), domestic hybrid bonds redeemed ( -¥405.0B), USD-denominated senior bonds redeemed (-$0.67B), repayment of the 2025 bridge loan ( -$12.0B), drawdown of the 2026 bridge loan (+$20.0B) and partial repayment thereof ( -$3.6B), and partial repayment of borrowings under commitment line ( -¥480.7B), etc. Asset monetization: Mainly the sales of listed shares. SVF distributions: Distribution/ repayment of +$0.2B from SVF1, distribution/ repayment of +$0.6B from SVF2, and distribution/ r epayment of +$0.01B from LatAm. Investments: SVF+SBG investment (-$10.3B). SVF investment amount: Corresponds to "Payments for acquisition of investments by SVF" in the Consolidated Statement of Cash Flows. SBG investment amount: Investments made by SBG, its major wholly owned subsidiaries, and Robo Holdings, excluding intra- group transactions and investments in bonds. Expenditures to acquire assets related to power generation and data centers in the U.S.: -¥968.9B 3.5 0.9 0.3 0.1 0.1 1.0 0.5 1.8 1.6 0.5 Q4 FY2025 Q1 FY2026 Others’25 bridge loan repayment -1.9 ’26 bridge loan drawdown +3.2 ’26 bridge loan partial repayment -0.6 Commitment line partial repayment -0.5 Bond issuance/ redemption +0.7 Others 2.3 Interest, dividends received 0.1 Payments of interest, dividends, tax, etc. -0.3 Expenditures to acquire assets related to power generation and data centers in the U.S. Debt finance Asset monetization Investments SVF distributions Undrawn borrowing capacity
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67 (a) (b) (c) = (b) - (a) (d) = (b) / (a) Company Investment cost to SVF1 Gross return to SVF1 Gross gain (loss) to SVF1 Gross MOIC Coupang 2,729 11,384 8,655 4.2x Doordash 680 7,944 7,264 11.7x NVIDIA 2,878 5,813 2,936 2.0x Guardant Health 308 2,665 2,358 8.7x Uber 7,666 9,215 1,549 1.2x Slack 334 1,018 684 3.0x Roivant 919 1,537 618 1.7x Ping An Good Doctor 400 828 428 2.1x Auto1 741 1,148 406 1.5x PolicyBazaar 199 592 394 3.0x Opendoor 450 824 374 1.8x 10x Genomics 31 338 307 10.9x Delhivery 397 701 304 1.8x Relay Therapeutics 300 522 222 1.7x Full Truck Alliance 1,700 1,900 200 1.1x Vir Biotechnology 199 321 122 1.6x BrainBees Solutions (FirstCry) 268 358 89 1.3x Zomato 309 374 65 1.2x Includes investments that were publicly traded at the time of investment and investments that went private after investment. All information on fully exited investments reflects the status at the time of full exit. 1. SBG basis refers to SoftBank Vision Funds Segment basis. Includes the impact from hedges on the public securities and the effect of consolidating inter-company transactions. For certain investments that were originally to be transferred from SBG to SVF1 but canceled afterwards, its unrealized gain (loss) incurred for the period leading up to the decision to cancel the transfer are not included in the presentation. Cumulative investment performance is presented on a net basis. 2. Investment cost is the sum of all external cash flows, including investment-related financing, directed towards the purchase of investments, plus net premiums paid for investment-related hedges. 3. Gross return is the sum of all external cash flows generated by investments and their related hedges, gross of taxes, investment-related financing and other liabilities etc., plus the market value of any unrealized securities as of Jun 30, 2026. 4. Multiple of Invested Capital ("MOIC") is Gross return divided by Investment cost. Net performance for individual investments cannot be calculated without making arbitrary assumptions about allocations of fees and expenses, and for that reason is not included herein. 5. Roivant: Investment cost of public shares to SVF1 excludes $116M which was realized in Mar 2020, prior to Roivant’s public listing. 6. BrainBees Solutions (FirstCry): Investment cost of public shares to SVF1 excludes $127M which was realized in Aug 2024, prior to BrainBees Solutions’ public listing. 7. OneConnect: Delisted on Oct 30, 2025 8. GoTo: Investment cost of public shares to SVF1 reflects SVF1’s investment in Tokopedia prior to its merger with Gojek and excludes $7M in cost that was realized by SVF1 prior to GoTo’spublic listing. 9. WeWork: Investment cost of public shares to SVF1 ($3,468M) includes the investment cost to WeWork Asia Holding Company B.V. (“WeWork Asia”) ($400M). The shares of WeWork Asia were exchanged to WeWork preferred stock in Apr 2020 at a price of $11.60 per share. 10. Public company total (Gross) includes DiDi and Getaround, which are traded in the over-the-counter market. 11. SVF1 private company, etc. includes Arm. Prior to Arm’s initial public offering in Aug 2023, a wholly owned subsidiary of the Company acquired substantially all of the ordinary shares of Arm held by SVF1. The total and the sum of the breakdown in the table may not match as the amount of each item is rounded to the nearest unit. SBG's Net Paid-in Capital of SVF1 is $27.7B, and the total value is $35.6B as of Jun 30, 2026. See “Earnings Investor Briefing for Q1 FY2026 SoftBank Vision & LatAm Funds” for further details. Publicly quoted exchange rates may have moved either upwards or downwards, even materially, since the measurement dates indic ated herein. The exchange rate for each company on this page and used for calculation of return were taken as of Jun 30, 2026. The selected investments presented herein were solely for illustrative purposes to show the public securities of SVF1 before or as at Jun 30, 2026 and do not purport to be a complete list of SVF1 investments. References to investments included herein should not be construed as a recommendation of any particular investment or security. It should not be assumed that investments made in the future will be comparable in quality or performance to the investments described herein. Please refer to visionfund.com /portfolio for a more complete list of SVF1’s investments. Valuations reflect unrealized and partially realized estimated amounts and should not be construed as indicative of actual or future performance. Such values do not reflect fees and expenses that would reduce the value of returns experienced by SVF1 investors. There is no guarantee that historical trends will continue throughout the life of SVF1. It should not be assumed that investments made in the future will be comparable in quality or performance to investments descr ibed herein. There can be no assurance that unrealized and partially realized investments will be sold for values equal to or in excess of the total values used in calculating the returns portrayed herein. Actual returns on unrealized and partially realized investments will depend on, among other factors, future operating results, the value of the assets and market conditions at the time of disposition, any related transaction costs and the timing and manner of sale, all of which may differ from the assumptions on which the valuations reported herein are based. Accordingly, the actual realized returns on investments that are partially realized or unrealized may differ materially from the values indicated herein. SVF1 performance metrics are based on final Valuation and Financial Risk Committee (“VFRC”) results. While SVF1 performance figures have been calculated based on assumptions that SBG believes are reasonable, the use of different assumpti ons could yield materially different results, and the VFRC may adjust any of these values. As such, SVF1 performance figures are subject to change and not necessarily indicative of the performance of SVF1 and are included only for illustrative purposes. SVF1 Public Portfolio Companies (As of Jun 30, 2026) ($ M) $1= ¥162.39 (Jun 30, 2026 TTM) (a) (b) (c) = (b) - (a) (d) = (b) / (a) Company Investment cost to SVF1 Gross return to SVF1 Gross gain (loss) to SVF1 Gross MOIC Energy Vault 60 90 30 1.5x Aurora Innovation 333 275 (58) 0.8x OneConnect 100 6 (94) 0.1x Compass 1,082 949 (133) 0.9x ZhongAn 550 400 (150) 0.7x Getaround 348 0 (348) 0.0x Ginkgo Bioworks 404 6 (398) 0.0x GoTo 841 345 (497) 0.4x Grab 2,993 2,493 (501) 0.8x Paytm 1,600 1,056 (544) 0.7x SenseTime 1,429 849 (580) 0.6x View 1,175 0 (1,175) 0.0x WeWork 3,468 0 (3,468) 0.0x DiDi 12,073 3,244 (8,829) 0.3x (A) Public company total (Gross) $46,966 $57,195 $10,230 1.2x (B) SVF1 private company, etc. $38,215 $54,644 $16,429 (A)+(B) Total (SBG basis) $85,181 $111,839 $26,658 Fully Exited *1 *2 *3 *4 *2 *3 *4 Fully Exited Fully Exited Fully Exited Fully Exited Fully Exited Fully Exited Fully Exited Fully Exited *8 *6 *9 *11 Fully Exited Fully Exited Fully Exited Fully Exited *5 Fully Exited Fully Exited *7Fully Exited Fully Exited *10
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68 (a) (b) (c) = (b) - (a) (d) = (b) / (a) Company Investment cost to SVF2 Gross return to SVF2 Gross gain (loss) to SVF2 Gross MOIC Beike 1,350 2,497 1,147 1.8x Lenskart 225 1,233 1,008 5.5x PayPay 1,865 2,763 898 1.5x Symbotic 200 899 699 4.5x Meesho 285 806 521 2.8x Metsera 36 271 235 7.5x Globalstar 5 26 21 5.2x XtalPi 35 53 18 1.5x IonQ 61 74 14 1.2x eToro 30 31 1 1.0x Qualtrics 24 15 (9) 0.6x Swiggy 450 437 (13) 1.0x Capital One 110 87 (23) 0.8x Berkshire Grey 115 92 (23) 0.8x Neumora Therapeutics 60 28 (32) 0.5x Full Truck Alliance 250 213 (37) 0.9x Pear Therapeutics 46 0 (46) 0.0x Beisen 100 19 (81) 0.2x Includes investments that were publicly traded at the time of investment and investments that went private after investment. Investments that went private after the investment include an investment in which SBG acquired all shares. Excludes crypto- currency tokens and any indirect interests in public securities held via entities that are wholly owned or controlled by SBG and SVF2. All information on fully exited investments reflects the status at the time of full exit. 1. SBG basis refers to SoftBank Vision Funds Segment basis. Cumulative investment performance is presented on net basis. 2. Investment cost is the sum of all external cash flows, including investment-related financing, directed towards the purchase of investments, plus net premiums paid for investment-related hedges. 3. Gross return is the sum of all external cash flows generated by investments and their related hedges, gross of taxes, investment-related financing and other liabilities etc., plus the market value of any unrealized securities as of Jun 30, 2026. 4. Multiple of Invested Capital ("MOIC") is Gross return divided by Investment cost. Net performance for individual investments cannot be calculated without making arbitrary assumptions about allocations of fees and expenses, and for that reason is not included herein. 5. Lenskart: Investment cost of public shares to SVF2 excludes $53M which was realized in Nov 2025, prior to Lenskart’s public listing. 6. PayPay: Investment cost of public shares to SVF2 excludes $231M which was realized in Mar 2026, prior to PayPay’s public listing. 7. Globalstar: Investment cost of public shares to SVF2 excludes $5M which was realized in Aug 2023, prior to Globalstar’s public listing. 8. XtalPi: Investment cost of public shares to SVF2 excludes $10M which was realized in Nov 2023, prior to XtalPi’s public listing. The total and the sum of the breakdown in the table may not match as the amount of each item is rounded to the nearest unit. SBG's Net Paid-in Capital of SVF2 is $103.7B, and the total value is $119.2B as of Jun 30, 2026. See “Earnings Investor Briefing for Q1 FY2026 SoftBank Vision & LatAm Funds” for further details. Publicly quoted exchange rates may have moved either upwards or downwards, even materially, since the measurement dates indic ated herein. The exchange rate for each company on this page and used for calculation of return were taken as of Jun 30, 2026. The selected investments presented herein were solely for illustrative purposes to show the public securities of SVF2 as at Jun 30, 2026 and do not purport to be a complete list of SVF2 investments. References to investments included herein should not be construed as a recommendation of any particular investment or security. It should not be assumed that investments made in the future will be comparable in quality or performance to the investments des cribed herein. Please refer to visionfund.com/portfolio for a more complete list of SVF2’s investments. Valuations reflect unrealized estimated amounts and should not be construed as indicative of actual or future performance. Such values do not reflect fees and expenses that would reduce the value of returns experienced by SVF2 investors. There is no guarantee that historical trends will continue throughout the life of SVF2. It should not be assumed that investments made in the future will be comparable in quality or performance to investments described herein. There can be no assurance that unrealized investments will be sold for values equal to or in excess of the total values used in calculating the returns portrayed herein. Actual returns on unrealized investments will depend on, among other factors, future operating results, the value of the assets and market conditi ons at the time of disposition, any related transaction costs and the timing and manner of sale, all of which may differ from the assumptions on which the valuations reported herein are based. Accordingly, the actual realized returns on investments that are unrealized may differ materially from the values indicated herein. SVF2 performance metrics are based on final Valuation and Financial Risk Committee (“VFRC”) results. While SVF2 performance figures have been calculated based on assumptions that SBG believes are reasonable, the use of different assumpti ons could yield materially different results, and the VFRC may adjust any of these values. As such, SVF2 performance figures are subject to change and not necessarily indicative of the performance of SVF2 and are included only for illustrative purposes. SVF2 Public Portfolio Companies (As of Jun 30, 2026) (a) (b) (c) = (b) - (a) (d) = (b) / (a) Company Investment cost to SVF2 Gross return to SVF2 Gross gain (loss) to SVF2 Gross MOIC Ethos 138 57 (81) 0.4x Zhangmen 105 1 (104) 0.0x Alnnovation 126 21 (104) 0.2x Ola Electric Mobility 556 412 (144) 0.7x Keep 200 16 (184) 0.1x Seer 205 9 (197) 0.0x Recursion Pharmaceuticals 284 57 (227) 0.2x Chime 350 104 (246) 0.3x DingDong Mai Cai 325 27 (298) 0.1x JD Logistics 601 190 (411) 0.3x Better 497 34 (463) 0.1x Klarna 1,706 312 (1,394) 0.2x WeWork 3,033 1 (3,032) 0.0x (A) Public company total (Gross) $13,372 $10,783 ($2,588) 0.8x (B) SVF2 private company, etc. $96,275 $120,152 $23,877 (A)+(B) Total (SBG basis) $109,647 $130,935 $21,289 *1 *2 *3 *4 *2 *3 *4 Fully Exited Fully Exited Fully Exited Fully Exited ($ M) Fully Exited Fully Exited *6 *8Fully Exited $1= ¥162.39 (Jun 30, 2026 TTM) Fully Exited Fully Exited *7 *5
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69 Definition and Calculation Method of NAV and LTV (As of Jun 30, 2026) 1. NAV (Net Asset Value) • NAV = Equity value of holdings - Net debt 2. Equity value of holdings (after adjustment for asset -backed financing) • Arm: the number of Arm ADSs equivalent to the number of shares held by SBG x Arm ADS price - the equivalent amount of outstanding liabilities for margin loans using Arm shares. • SVF1: SBG’s share of SVF1’s NAV + accrued performance fees, etc. • SVF2: SBG’s share of SVF2’s NAV, etc. • LatAm: SBG’s share of LatAm’s NAV + accrued performance fees, etc. • SoftBank Corp.: the number of shares held by SBG x SoftBank Corp. share price - the equivalent amount of outstanding liabilities for margin loans using SoftBank Corp. shares. • T-Mobile: the number of T-Mobile shares held by SBG x T-Mobile share price - the maturity settlement amount of the prepaid forward contracts ( collar contracts) using T-Mobile shares (calculated based on the T-Mobile share price). • Others: (a) + (b) + (c) a. Listed shares: the number of shares held by SBG multiplied by the share price of each share. b. Unlisted shares: calculated based on the fair value (or the carrying amount in SBG’s balance sheet for those not measured at fair value) of unlisted shares, etc., held by SBG. c. SB Northstar: SBG’s share of SB Northstar’s NAV. However, as SB Northstar net interest -bearing debt is included in SBG net interest-bearing debt, it is not included in the calculation of SB Northstar’s NAV. 3. Net debt (after adjustment for asset -backed financing) • Net debt = SBG net interest-bearing debt • SBG net interest-bearing debt = Consolidated net interest-bearing debt - Net interest-bearing debt at self-financing entities, etc. - Other adjustments • Consolidated net interest-bearing debt: excludes bank deposits and cash position at the banking subsidiaries ( PayPay Bank Corporation and LINE Bank Taiwan Limited) • Net interest-bearing debt at self-financing entities, etc.: the sum of gross interest -bearing debt - the sum of cash positions of self-financing and other entities, such as Arm, SVF1, SVF2, LatAm, and SoftBank Corp. (including its subsidiaries). • Other adjustments: the sum of adjustments of (d) to (h) below d. Among the hybrid bonds and hybrid loans with a redemption date, the entire amount is recorded as interest -bearing debt in consolidated accounting. Therefore, 50% is deducted from the interest -bearing debt (to be treated as equity). e. Among the hybrid bonds, perpetual bonds without a redemption date are fully recorded as equity under consolidated accounting. Therefore, 50% of these bonds are included in the interest-bearing debt. f. Deduction of the amount equivalent to the outstanding balance of the borrowings made through margin loans using Arm shares. g. Deduction of the equivalent amount of outstanding liabilities for margin loans using SoftBank Corp. shares. h. Deduction of financial liabilities related to prepaid forward contracts (collar contracts) using T -Mobile shares. 4. LTV (Loan to Value) • LTV = Net debt / Equity value of holdings 5. Other assumptions • Share prices: closing prices as of Jun 30, 2026 • FX rate: USD1 = JPY 162.39 SBG = SoftBank Group Corp., Arm = Arm Holdings plc, SVF1 = SoftBank Vision Fund 1, SVF2 = SoftBank Vision Fund 2, LatAm = SoftBank Latin America Funds, T-Mobile = T-Mobile US, Inc. Before considering tax unless otherwise stated The information herein is based on assumptions made by the Company and is not indicative of the price of SBG's common shares or any securities held by the Company and should not form the basis of any investment decisions.
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70 Definition and Calculation Method of NAV and LTV (Q1 FY2026 Pro forma) 1. NAV (Net Asset Value) • NAV = Equity value of holdings - Net debt 2. Equity value of holdings (after adjustment for asset -backed financing) • Arm: the number of Arm ADSs equivalent to the number of shares held by SBG x Arm ADS price - the equivalent amount of outstanding liabilities for margin loans using Arm shares. • SVF1: SBG’s share of SVF1’s NAV + accrued performance fees, etc. • SVF2: SBG’s share of SVF2’s NAV, etc. • LatAm: SBG’s share of LatAm’s NAV + accrued performance fees, etc. • SoftBank Corp.: the number of shares held by SBG x SoftBank Corp. share price - the equivalent amount of outstanding liabilities for margin loans using SoftBank Corp. shares. • T-Mobile: the number of T-Mobile shares held by SBG x T-Mobile share price - the maturity settlement amount of the prepaid forward contracts (collar contracts) using T -Mobile shares (calculated based on the T-Mobile share price). • Others: (a) + (b) + (c) a. Listed shares: the number of shares held by SBG multiplied by the share price of each share. b. Unlisted shares: calculated based on the fair value (or the carrying amount in SBG’s balance sheet for those not measured at fair value) of unlisted shares, etc., held by SBG. c. SB Northstar: SBG’s share of SB Northstar’s NAV. However, as SB Northstar net interest -bearing debt is included in SBG net interest-bearing debt, it is not included in the calculation of SB Northstar’s NAV. 3. Net debt (after adjustment for asset -backed financing) • Net debt = SBG net interest-bearing debt • SBG net interest-bearing debt = Consolidated net interest-bearing debt - Net interest-bearing debt at self-financing entities, etc. - Other adjustments • Consolidated net interest-bearing debt: excludes bank deposits and cash position at the banking subsidiaries ( PayPay Bank Corporation and LINE Bank Taiwan Limited) • Net interest-bearing debt at self-financing entities, etc.: the sum of gross interest -bearing debt - the sum of cash positions of self-financing and other entities, such as Arm, SVF1, SVF2, LatAm, and SoftBank Corp. (including its subsidiaries). • Other adjustments: the sum of adjustments of (d) to (h) below d. Among the hybrid bonds and hybrid loans with a redemption date, the entire amount is recorded as interest -bearing debt in consolidated accounting. Therefore, 50% is deducted from the interest -bearing debt (to be treated as equity). e. Among the hybrid bonds, perpetual bonds without a redemption date are fully recorded as equity under consolidated accounting. Therefore, 50% of these bonds are included in the interest-bearing debt. f. Deduction of the amount equivalent to the outstanding balance of the borrowings made through margin loans using Arm shares. g. Deduction of the equivalent amount of outstanding liabilities for margin loans using SoftBank Corp. shares. h. Deduction of financial liabilities related to prepaid forward contracts (collar contracts) using T -Mobile shares. 4. LTV (Loan to Value) • LTV = Net debt / Equity value of holdings 5. Other assumptions • Share prices: calculated using closing prices on Aug 5, 2026 for Arm, SoftBank Corp., and Intel, and on Jun 30, 2026 for other listed shares. • FX rate: USD1 = JPY 157.56 (Aug 5, 2026) SBG = SoftBank Group Corp., Arm = Arm Holdings plc, SVF1 = SoftBank Vision Fund 1, SVF2 = SoftBank Vision Fund 2, LatAm = SoftBank Latin America Funds, T-Mobile = T-Mobile US, Inc., Intel = Intel Corporation Before considering tax unless otherwise stated The information herein is based on assumptions made by the Company and is not indicative of the price of SBG's common shares or any securities held by the Company and should not form the basis of any investment decisions.
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71 Definition and Calculation Method of NAV and LTV (As of Mar 31, 2026) 1. NAV (Net Asset Value) • NAV = Equity value of holdings - Net debt 2. Equity value of holdings (after adjustment for asset -backed financing) • Arm: the number of Arm ADSs equivalent to the number of shares held by SBG x Arm ADS price - the equivalent amount of outstanding liabilities for margin loans using Arm shares. • SVF1: SBG’s share of SVF1’s NAV + accrued performance fees, etc. • SVF2: SBG’s share of SVF2’s NAV, etc. • LatAm: SBG’s share of LatAm’s NAV + accrued performance fees, etc. • SoftBank Corp.: the number of shares held by SBG x SoftBank Corp. share price - the equivalent amount of outstanding liabilities for margin loans using SoftBank Corp. shares. • T-Mobile: the number of T-Mobile shares held by SBG x T-Mobile share price - the maturity settlement amount of the prepaid forward contracts ( collar contracts) using T-Mobile shares (calculated based on the T-Mobile share price). • Others: (a) + (b) + (c) a. Listed shares: the number of shares held by SBG multiplied by the share price of each share. b. Unlisted shares: calculated based on the fair value (or the carrying amount in SBG’s balance sheet for those not measured at fair value) of unlisted shares, etc., held by SBG. c. SB Northstar: SBG’s share of SB Northstar’s NAV. However, as SB Northstar net interest -bearing debt is included in SBG net interest-bearing debt, it is not included in the calculation of SB Northstar’s NAV. 3. Net debt (after adjustment for asset -backed financing) • Net debt = SBG net interest-bearing debt • SBG net interest-bearing debt = Consolidated net interest-bearing debt - Net interest-bearing debt at self-financing entities, etc. - Other adjustments • Consolidated net interest-bearing debt: excludes bank deposits and cash position at the banking subsidiaries ( PayPay Bank Corporation and LINE Bank Taiwan Limited) • Net interest-bearing debt at self-financing entities, etc.: the sum of gross interest -bearing debt - the sum of cash positions of self-financing and other entities, such as Arm, SVF1, SVF2, LatAm, and SoftBank Corp. (including its subsidiaries). • Other adjustments: the sum of adjustments of (d) to (h) below d. Among the hybrid bonds and hybrid loans with a redemption date, the entire amount is recorded as interest -bearing debt in consolidated accounting. Therefore, 50% is deducted from the interest -bearing debt (to be treated as equity). e. Among the hybrid bonds, perpetual bonds without a redemption date are fully recorded as equity under consolidated accounting. Therefore, 50% of these bonds are included in the interest-bearing debt. f. Deduction of the amount equivalent to the outstanding balance of the borrowings made through margin loans using Arm shares. g. Deduction of the equivalent amount of outstanding liabilities for margin loans using SoftBank Corp. shares. h. Deduction of financial liabilities related to prepaid forward contracts (collar contracts) using T -Mobile shares. 4. LTV (Loan to Value) • LTV = Net debt / Equity value of holdings 5. Other assumptions • Share prices: closing prices as of Mar 31, 2026 • FX rate: USD1 = JPY 159.88 SBG = SoftBank Group Corp., Arm = Arm Holdings plc, SVF1 = SoftBank Vision Fund 1, SVF2 = SoftBank Vision Fund 2, LatAm = SoftBank Latin America Funds, T-Mobile = T-Mobile US, Inc. Before considering tax unless otherwise stated The information herein is based on assumptions made by the Company and is not indicative of the price of SBG's common shares or any securities held by the Company and should not form the basis of any investment decisions.