Makuake, Inc. · TSE:4479

Makuake — Q3 FY2026/9 Earnings Presentation

44 slides from Makuake's earnings presentation, Jul 28, 2026

1. Slide 1: Earnings Presentation Materials for Q3 FY2026/9

   Securities code: 4479 Earnings Presentation Materials for Q3 FY2026/9 (Fiscal Year Ending September 30, 2026) Makuake, Inc.

2. Slide 2: Makuake's Value Chain: PDG Cycle

   Makuake’s Value Chain: PDG Cycle* A co-creation cycle platform that enables businesses to continuously understand consumers and sustain sales—from planning to expanded distribution of products and services * PDG cycle: The sales process for products and services is defined as Plan (planning) – Debut

3. Slide 3: Financial Results

   Financial Results (Results for Q3 FY2026/9) Copyright © Makuake, Inc. All Rights Reserved. 3

4. Slide 4: Overview of Q3 FY2026/9

   Overview of Q3 FY2026/9 Net Sales : JPY 1,579 million (YoY+21.6%) Operating Profit : JPY 276 million (YoY+74.3%) ＜Cumulative through Q3＞ Net Sales : JPY 4,392 million (YoY+31.1%) Operating Profit : JPY 844 million (YoY+101.0%) Results - Quarterly total transaction volume hit a new record high of JPY

5. Slide 5: Total Transaction Volume

   Total Transaction Volume* Creation of the highest-value project in our history drove quarterly total transaction volume to a new record high • YoY : +27.2% • QoQ : +21.7% (Unit: JPY million) Secure System Usage Fees (including tax) 6,216 Gross Amount of “Support” Pre-orders (including tax) 5,689 143

6. Slide 6: Net Sales and Take Rate

   Net Sales and Take Rate Quarterly net sales hit a new record high, while the take rate declined slightly due to adjustments for creating extremely large-scale projects • YoY : +21.6% 2,000 • QoQ : +17.1% 100% (Unit: JPY million) 1,800 Net Sales of Advertising Delivery Services 90% Net Sales of Makua

7. Slide 7: Gross Profit and Gross Profit Margin

   Gross Profit and Gross Profit Margin Gross profit in line with net sales, while the gross profit margin changed depending on the sales mix 82.0% 81.6% 79.0% 79.0% 78.2% 76.5% 77.2% 1,600 75.3% 75.9% 80% 74.4% 73.9% 73.8% 73.4% 73.3% 72.4% 1,400 70% (Unit: JPY million) • YoY : +19.1% Gross Profit Mar

8. Slide 8: Selling, General, and Administrative Expenses

   Selling, General, and Administrative Expenses Personnel expenses increased due to base salary increases after the semi-annual review and more maintenance-related development (Unit: JPY million) Payment Fees/Others Advertising and Promotion Expenses • YoY : +8.2% Personnel Expenses • QoQ : +15.0% 930

9. Slide 9: Major Upfront Investments in Q3 and Their Progress

   Major Upfront Investments in Q3 and Their Progress Some business growth investments shifted to Q4 or later, while organizational development and other areas remain on plan Investment items Expected effects Development Personnel • Investment in data infrastructure expenses Expenses • Improved quality

10. Slide 10: Operating Profit (Loss) and Operating Profit Margin

    Operating Profit (Loss) and Operating Profit Margin Upfront investments largely as planned; operating profit exceeded the plan on higher-than-expected net sales • YoY : +74.3% (Unit: JPY million) • QoQ : +17.8% Operating Profit Margin 350 334 Operating Profit (Loss) 276 45% 234 250 35% 161 22.8% 158

11. Slide 11: Key KPIs

    Key KPIs The project unit value hit a new record high, driven by record-breaking projects No. of Active Projects Monthly Project Unit Monthly Amount of during the Month*1 Value*2 "Support" Pre-orders Results (Unit: project) (Unit: JPY 10,000) (Unit: JPY million) • YoY : +2.5% • YoY : +22.2% • YoY :

12. Slide 12: Major Projects Published in Q3 FY2026/9 (Small and Medium-Sized Enterprises)

    Major Projects Published in Q3 FY2026/9 (Small and Medium-Sized Enterprises) The AI gadget and high-performance home appliance categories, our strengths, grew and drove high-value “support” pre-orders AI robot installed on smartphones AI-powered character summoning device Under-desk power cable mana

13. Slide 13: Major Projects Published in Q3 FY2026/9 (Large Companies)

    Major Projects Published in Q3 FY2026/9 (Large Companies) Major national brands now regularly use Makuake to create new businesses and categories XGIMI iFLYTEK jig.jp Osaka Achilles Aeron NISHIKAWA TOYOBO MC Corporation NTT DOCOMO MIZUNO Logos Corporation Copyright © Makuake, Inc. All Rights Reserve

14. Slide 14: SDGs-Related Projects Published in Q3 2026/9

    SDGs-Related Projects Published in Q3 2026/9 Highly relatable SDGs projects are diversifying, including those leveraging local resources and passing down traditional craftsmanship Recruiting supporters to Sustainable sake Bed frame preserve Kyoto’s 1,150-year- achieving a 30% reduction made from unu

15. Slide 15: TOPICS − Plan −

    TOPICS − Plan − Evolving into Makuake’s co-creation cycle New product development support tools platform Understanding consumer insights is Makuake Insight now equipped with AI features essential to sustain sales As society changes rapidly, gaining insights from consumers’ An AI chatbot asks project

16. Slide 16: TOPICS — Debut: Offline Activities —

    TOPICS — Debut: Offline Activities — Aiming to maximize real-world experience value, Held “Makuake GINZA TOUCH LOUNGE,” strengthening offline activities for users an experiential pop-up at SoftBank Ginza Exhibited at the “HEADPHONE FESTIVAL 2026 SPRING” in April In collaboration with SB C&S Corp., h

17. Slide 17: TOPICS — Debut: New All-Time Records for "Support" Pre-orders

    TOPICS — Debut: New All-Time Records for “Support” Pre-orders — “Rokid Smart AI Glasses” Home projector “Elfin Flip” set a new all-time record broke the all-time record for “support” pre-orders for “support” pre-orders again The “Rokid Smart AI Glasses” project raised JPY 636.73 The home projector p

18. Slide 18: TOPICS − Growth −

    TOPICS − Growth − On “Diggly,” a special page The Makuake STORE shop within Rakuten Ichiba, began listing within Rakuten Ichiba won products from Makuake STORE the “Rakuten SHOP OF THE MONTH” award In collaboration with Rakuten, began listing products handled The Makuake STORE shop within Rakuten Ic

19. Slide 19: FY2026/9 Financial Forecasts

    FY2026/9 Financial Forecasts Copyright © Makuake, Inc. All Rights Reserved. 19

20. Slide 20: Notice of Revisions to FY2026/9 Full-Year Financial Forecasts

    Notice of Revisions to FY2026/9 Full-Year Financial Forecasts (against FY2025/9 Results) Achieved double-digit growth in both net sales and profit, following the previous fiscal year FY2025/9 FY2026/9 (Unit: JPY million) Change Percent Change (Re s ul ts) (Re v ised F orecasts) Total Transaction Vol

21. Slide 21: Overview of Investment Plan for H2

    Overview of Investment Plan for H2 Aiming for strong growth from the next fiscal year onward through strategic upfront investments Investment items Expected effects Development Personnel • Investment in data infrastructure expenses Expenses • Improved quality of new features and services and faster

22. Slide 22: Medium-Term Management Plan

    M e d i u m - Te r m Management Plan (FY2025/9 – FY2027/9) Copyright © Makuake, Inc. All Rights Reserved. 22

23. Slide 23: Our Approach to the Medium-Term Management Plan through FY2027/9

    Our Approach to the Medium-Term Management Plan through FY2027/9 Revise once the full-year results c for FY2026/9 are finalized Net Sales Operating Profit Stock-type ¥5.2 bn Stock-type ¥0.7 bn New business creation and M&A, etc. + α The effect of improved project acquisition capacity thanks to the P

24. Slide 24: Appendix

    Appendix Copyright © Makuake, Inc. All Rights Reserved. 24

25. Slide 25: The World Makuake Aspires For

    The World Makuake Aspires For Copyright © Makuake, Inc. All Rights Reserved. 25

26. Slide 26: Makuake's Value Chain: PDG Cycle

    Makuake’s Value Chain: PDG Cycle* A co-creation cycle platform that enables businesses to continuously understand consumers and sustain sales—from planning to expanded distribution of products and services * PDG cycle: The sales process for products and services is defined as Plan (planning) – Debut

27. Slide 27: Debut: Makuake—Venue for Launch of New Products and Services

    Debut Makuake—Venue for Launch of New Products and Services Copyright © Makuake, Inc. All Rights Reserved. 27

28. Slide 28: Debut: Makuake's Service Model

    Debut Makuake's Service Model pre-purchase More than Approx. 51,000 3.50 Million Copyright © Makuake, Inc. All Rights Reserved. 28

29. Slide 29: Debut: Factor Analysis of Makuake's Service Structure

    Debut Factor Analysis of Makuake's Service Structure Copyright © Makuake, Inc. All Rights Reserved. 29

30. Slide 30: Growth: Business Model of Makuake STORE for EC Mall

    Growth Growth：Business Model of Makuake STORE for EC Mall Stores to bring the “new” born on Makuake to a wider audience Project Owners Makuake STORE (Rakuten, Yahoo!, TTS) Consumers Consignment purchase Shipping Transfer sales revenue after deducting commissions Copyright © Makuake, Inc. All Rights

31. Slide 31: Plan: Business Model of Makuake Insight

    Plan Plan：Business Model of Makuake Insight New product development support tools that enable confident decision-making based on consumer feedback and behavioral data Offered Services 01 | Consumer research service 02｜Data dashboard Online questionnaire surveys and N1 interviews Analytics dashboard

32. Slide 32: PDG Chain of Solutions to Business Challenges

    PDG Chain of Solutions to Business Challenges Enabled by the PDG Cycle Supporting businesses in addressing their challenges through cross-business collaboration Marketability demonstration Link businesses struggling with continuous sales Sustainable scaling Advance sales of new products and Comprehe

33. Slide 33: Conceptual Model of Revenue Growth through the PDG Cycle

    PDG Conceptual Model of Revenue Growth for Businesses through the PDG Cycle Repeating the PDG cycle increases staple products and accumulates revenue 4thproduct Structure to enable sustainable revenue growth for businesses expanded distribution Growth 3rdproduct expanded distribution Growth 3rdprodu

34. Slide 34: FAQs on the PDG Cycle

    FAQs on the PDG Cycle Q1 Having grown with the Makuake service at your core, what was your aim in beginning to offer new services? This reflects the strong needs of project owners (businesses) for support not only in debuting with the Makuake service but also in the process of developing products in

35. Slide 35: Other Services: Advertising Delivery Agency

    Other Services Advertising Delivery Agency Copyright © Makuake, Inc. All Rights Reserved. 35

36. Slide 36: Financial Results Summary: YoY (Cumulative through Q3)

    Financial Results Summary: YoY (Cumulative through Q3) FY2025/9 FY2026/9 Change Percent Change (Unit: JPY million) Q1-3 Q1-3 YoY YoY Total Transaction Volume Sum of “Support” Pre-orders and 12,977 17,014 +4,037 +31.1 Secure System Usage Fees (including tax) Net Sales 3,349 4,392 +1,042 +31.1 Gross P

37. Slide 37: Financial Results Summary: YoY (Standalone Quarter)

    Financial Results Summary: YoY (Standalone Quarter) FY2025/9 FY2026/9 Change Percent Change (Unit: JPY million) Q3 (standalone) Q3 (standalone) YoY YoY Total Transaction Volume Sum of “Support” Pre-orders and 4,887 6,216 +1,329 +27.2 Secure System Usage Fees (including tax) Net Sales 1,298 1,579 +28

38. Slide 38: Financial Results Summary: QoQ (Standalone Quarter)

    Financial Results Summary: QoQ (Standalone Quarter) FY2026/9 FY2026/9 Change Percent Change (Unit: JPY million) Q2 (standalone) Q3 (standalone) QoQ QoQ Total Transaction Volume Sum of “Support” Pre-orders and 5,107 6,216 +1,109 +21.7 Secure System Usage Fees (including tax) Net Sales 1,349 1,579 +23

39. Slide 39: KPIs: YoY (Standalone Quarter)

    KPIs: YoY (Standalone Quarter) FY2025/9 FY2026/9 Change Percent Change Q3 (standalone) Q3 (standalone) YoY YoY No. of Published Projects 1,342 1,357 +15 +1.1 No. of Published Projects by Repeat Project Owners 831 826 (5) (0.6) Project Owners' Repeat Rate (%)*1 61.9 60.9 - (1.1)pt Amount of Repeat "S

40. Slide 40: KPIs: QoQ (Standalone Quarter)

    KPIs: QoQ (Standalone Quarter) FY2026/9 FY2026/9 Change Percent Change Q2 (standalone) Q3 (standalone) QoQ QoQ No. of Published Projects 1,224 1,357 +133 +10.9 No. of Published Projects by Repeat Project Owners 726 826 +100 +13.8 Project Owners' Repeat Rate (%)*1 59.3 60.9 - +1.6pt Amount of Repeat

41. Slide 41: Dividend Policy

    Dividend Policy As the company is currently in a state of growth, we believe that by retaining profits and prioritizing investment in expanding business size and improving earning power will lead to maximization of our corporate value and a continuous stream of profit return to shareholders. As to f

42. Slide 42: Disclaimer and Cautions Regarding Future Outlook

    Disclaimer and Cautions Regarding Future Outlook  While the content of this document has been prepared based on generally recognized economic and social conditions as of July 28, 2026 and certain assumptions deemed reasonable by Makuake, Inc., it may change due to shifts in business environment and

43. Slide 43: IR Inquiries

    IR Inquiries IR@makuake.co.jp Copyright © Makuake, Inc. All Rights Reserved. 43

44. Slide 44: Copyright © Makuake, Inc. All Rights Reserved.

    Copyright © Makuake, Inc. All Rights Reserved. 44

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