Star Seeds Co.,ltd. · TSE:3083
Star Seeds Co.,ltd — FY2026.02 Earnings Presentation
43 slides from Star Seeds Co.,ltd's earnings presentation, April 2026
Slide 1: Financial Results Presentation FY2026.02
SyAnS ay | WEAR Y HK | HEI: 3083 20265F27 HA 53300-FHA RA AAK RE-Y-ARASA 2026415138 | Starseeds Co., Ltd. © 2026 Starseeds Co., Ltd. All Rights Reserved.
Slide 2: Agenda
= BR/ Agenda © 01 LIEITATIIIY— SRS + AMS HE [Lb 02 ERAS SESE MRE NBYRAY—b ACHAILRA1.9% Ee 20264F2A HA S348 RARABH | AL—LY— Atta © 2026 Starseeds Co., Ltd. All Rights Reserved. @ os ARBRO GPU —/\ FREE 06 KemSSS MIERSO iE G7 RA RERAOEH BADER L + Ales Sos PHS te 20264 A RRP ® 09 BERS RRRABS ORR @ 10 HB
Slide 3: ue OL,
ue OL, LIUIF4 TY BRAS - HMB RHE
Slide 4: FY2026.02 4Q results highlights
VBA VY: BRRICSSBSEAZAL-VUN— : Fy2026.02 4Q (RRB) 89.5fa +7.7f8 amit 75% meta BRAS RARSRR RRABEHRR GPUY—N—-BR FY2025.02 FY2026.02748 EBB OMIDK4 (Bt) 2 (BRR) 3 (BRR) + REMSLUOR. MRAZ | + ALmeO.SMS MMAR | 6 GETERILA : 23.2%aL. mA AIEEE (RF «RRB © BEAT s ILE 2 Als RF RTS FR EM FA CRO RFE A2ELLAIBE HOHTI
Slide 5: Highlights and outlook
© RHARS : 2028 2A RICHTER Benn 8MW > 100MW 32MWh > 400MWh 2 02 FY26.02 > FY28.1 HARE K 3 N— BRH-h74UAORIR " ARBBBSS : 2028H2AM* CICSESONME " GER : KSA Bl BAX2 " RE : HHS. ORBRAR " GPUY—-N—-SBS : ANBBRA TB AICMMR KB " FER: GRABS ESMAS EL * REMMSHS : ENE TT COMBE 3E1 MITAC-SYNNEX)L—7 : HRAROMTF 4 A bY
Slide 6: FY2026.02 results overview
202622 A HE BERA OATH STARSEEDS> | samen : ks 09 ster aenlae 5.0805 /mnnenLas 3069 TLE MOAER BRA REMOAER B3IBHRst (RM) 39. 518A B3IBHRst (RM) A2. 5{6 FA PAL ROB SWB - GPU — NBR 4348 PAL ROB SWB - GPU — NBR 7. 6A PAA RAGS 6~88Al PAA RAGS [zl1E+0 iB 89. 5/8 eit 5. 148 ROME: AAMAS (RAS) 0554318 (86%) S
Slide 7: Results overview
jal 02 MBAS BIBT RHt RS + EARS
Slide 8: Net sales and profit results
nn 202645288 337UERASRETSE MT STARSEEDS> LB 39. 548A 89. 518A 44.2% SRA es A2. 548 Fl | 5. 148 = esata | A2. 68 FA 4. 548 5 | anaes A3. 0f6 FA 318 FA 2 RAE UEH : MB (BB -GPUY—/\—) OLB - SL (BBS). Mm G-N-) OLTIVYITH LL. RWAARHOAMAD SEM baE ENBEVARAEFIORY, CPRSMEVIME<K BOKT. FRRLOR LRT SY Tis MARC RED
Slide 9: Quarterly results by segment
pay: A BS HES STARSEEDS> Bale EGAR 36100488 (3-58) 12. 889 A22BBA REREAD 2-H) (6-8A) 12. 248A A1. 98 FA FPRAHBITIAR #3448 (9-11) 14. 4486 FA A3{HEA ARSE ER 3 ERAREt 39. 548 FA A2. 58 ameew (128-28) 504 Fa 7.648 | SUSAR Fi.) 89. 518A 5.1485 | PADMORE KIT N— : ARABEHBR - GPUY-\-BRCOBHAOAL (RWAS - MBAS
Slide 10: Net sales trend by segment
\n POFRAASC Lies (F+v—b) STARSEEDS? POERAB sc Lis (SRM vs 40 A FA) FY2026.02 iBHAst bis > HSER RR 55 50 40 30 20 0 BIA BO A3B BANA (FAB) @kHiasss Ocrus—\-ssx @ xnasevsx EA 8 OFRSA GARASSHSS VV cpuy—N\-SK O MERA (KHRS) | RIVE: MMB RBBB OR RAUEA - GPUY—/\—BH22A) C43FAORLD MT LON e HHS. BADE LVRS SHE.
Slide 11: Operating margin improvement
an) US NIVYVAY—Fk: BAOBAIESH+18.6pt SBOE
Slide 12: Operating margin rose to 41.8%
BAGS > BOAALLH23.2%— 41.8% Bowsae 50.8ff 21.7f8 8% +28.2f8F (+125%) +15.8f8F2 (+268%) +18.6ptrz= 143f8D SRE 202522A al 6 BRE (BEIIED 19. 24871 oF “ems AATF Aaa 3. 4A 7. 248A A3. 8% F BAS 12. 9187 3.248 +9. 648A [AARALRAROAR) SUERTE RLO TEI & DHS 790M (5.892168). FATE: AS VMESRAMALK? (SOG - 2025%48),
Slide 13: PRBZO : ARB SHSZ
U4 PRBZO : ARB SHSZ BER HEL AILS —THBADSA
Slide 14: Balance sheet and cash flow
4 HFRS ERC Id STARSEEDS> BRE: SHAUORAM (Hii) (CARMI SAMBRWTME - DAL, PHOMABBETSRETT. ABH ANKBOBRICKU, BAODBALEMET SR BLORE DAMALTWETo Nz EFIL® : BSE HATS WMRET ILA : SSMRERA - BATS = BRLEBSMe MARE) & LCE = BAURSBICKE, FEI SRIKES = FoDRS | ADRS FRE Bt = BGS hex 1 CHAI TU eS = BADRIC: LAO RWAD = 20264
Slide 15: Business overview and partnerships
4 RRBSSHRE > N—bht+-—CR STARSEEDS? RAR All-in-OneSsBSity 2F Li RE100@ 771 EHORBE - HRBReIY = BMRB: EHOReR Mt JEIS2 BUMOME - WR RP TIY Robestec#:3 BBO ATTA (HAA) = Rit : RIA bh A LEAH ZHU RA KDDIZJL—7 + RRR HEHE REP 5 Serle ner aE RRB ARNT F517 Y (202510K a) = 20282A 8884 : 2H1500Ai - 10OMW = THPRERH
Slide 16: Business progress and schedule
OMMABSUSE : JOLT bee Heb RASS BAR TARA Raa Sibheanegem BAR TARA Ram RONMLEHS SA AW BRT S4D+H 20264 1 AME OLEATE BP ARR BRT FAD+HA 20264 1 APE | FLBMS1 SYS: BBM AMS BLT Bice bt hk, RAAHRHSS CBAC LLP E. l BRANCH THD, MAM TORE LAGE (2025 0A AMA). MIRAE OO Ili MPLS MATING 20268 1 AMEE PIE C, URMILA TU 7
Slide 17: Energy storage business
42 BSHSA: MRO-KVYTS (Fv—h) BEMMRNT SITY (Ret) ARABEHER EMTALA 75faF FY26.02~FY28.02 (32RI& APR / MW EFIERRL. RELOOM At + A: AOR tkaA eR L. Bener 2025.6 2025.8 2025.9 2025.10 2026.3 2028.2 Omaniee (RH) Oem Mw (RE) ARC SNES OUEST B+ SRAM : 2027 HE CICSESONM - 1OOMW (400MWh) OBBARMBMR. RELOOBNA - JEIS*
Slide 18: GPU server business
Q5 SAB : GPUY—/\-hhss Al + 7-2 YA—-HHADBA
Slide 19: GPU server business
© GPUt}—/\—BRSEEERE | BEADEAEHRIC SE Ester STARSEEDS> AAR! 128 Rem 2025898 18f8F9+ 4a (Rids) 2S PEL (60%) Ramet wane) EAROGEA Baws aR mer BAB EH LAR " BUSHY ZIP NY 1 = ADFAS—-F-N— 3 188A (MEET) MiTAC-SYNNEX9 JL—P%2 (FIL—PFEEHIIZIKF) BUSSE : IANS 20254F12A220 BARE = j6Mt—N—-ERS| : 48 Bim - Ris) © Ruk
Slide 20: KRHRSAZOMEKE
0 6 KRHRSAZOMEKE RAT ANAOBT CRANES
Slide 21: Business results
Kem SS : HSNR OE ‘tee FR Bee (118) te > Rt 127 > 70/588 101.0% FY24.02% => FY26.02 #32 HG MELTS ARR FRSA (2025617) MERROMR Enshintkt24t 1615S METHOD / #ft@eEE3® = SHAH LCE tatSHSPIC 22,588 TORNADO MART = FIRE EROPRBVEHEE wASHFFAN 3255 ee EASY ree - eee = BHFIIEL : 8A + LIAICREL7 > 2mIR MFG: D4 PAV—2
Slide 22: EM BRERA OW
G U f EM BRERA OW PATENTS L + FROM
Slide 23: Monthly results trend
ol SMS FMOHE | 2D LAI STARSEEDS> tu “aF48 (4A) 1BIBE (9A) 2EIBMIE (10A) aORBLE RLS 6048 Fa 75. 8489 89. 5489 +75.1% | ee arn | 218 | 3. (8A | 5. 18 | RFR | | Gehl | 1. 8(8F | 3. 218A | 4. 548 FA | RFR | Per rog esd | 1. 2489 | 2.118 367 | RFE | 27 ARM C2HOLABIE (20254918 -10A14ARm) : se EROORA>75.8(
Slide 24: Segment results
© S40-FR8 (40H) Stk - AROAER Sea 50a Math lLaowR PB tHeS SRO ARDS EBA + GPUY-\- BE 4348 FA RRABEHBA (Flz=30%) 6. 3189 SERRRERWER (BWA + RAS) 218 GPUY—N—B3E (FilR$325%) 1.1487 SSGPUY—-N—BH (Waa - RA) 22189 KA GSBR - Res RR = eh 7. 6 FA Bit (RAS) 50s Fa FAT RSEL SSO L, RHR MARARAK—2ATOGAORLAAA SSRAASB
Slide 25: Business progress
© BAMREMAREE aE : lH) + BVEISET eet STARSEEDS> ABER : 4s 218A DNR : BADE L 228A (Ride) (FIAG) = LIB ASS : 18/8 (iE) = Bera : 148A 2A) AID ZAS—BY—N— FRETS / S485 70 = 12AUAREENS| : fF GEAR HRA - RAY) = OWL AT LIAS : EFL (RAG) | PMB CAH ASML ew (Rid) — BIO EMROMFEAS < AN-L. BMRFRAT RAD | PAM ALOAMTCRY
Slide 26: Results trend
~ ABEEORM (F+~—b) BRE RFD ORFRIRN FLBMBOMR (OD =@) 8 ORL = QMABER + DERM 50 40 30 ca = 20 10 Oo — i 5 FY24.02 FY25.02 FY26.02 FAR 4 FY24.02 FY25.02 FY26.02 30588 FY26.02 $48 Sonica O cerswe O omens BFEROF—-FITN—: MMRBROMMAE (SBMA - GPUY—/\—ABA) +KA MSHA MSLAIR 202642 AHA S30 RASA | AL — Ate Stt 18/2
Slide 27: Timeline of key events
© BBEMETORTALSITY STARSEEDS> b 2025410A98 erie (HM - BiTH) Be fg 2025118188 GPUS —/\—ASES| Manse Ty (18 HFA + BRS SEFEAA BA) fg 2025128228 BABSHAVI ZY IOV NY CORANIBAQIGE [gq 2025412 LAR 3801 —/\—ERS| > B4POERAT EAL (Rik) [a 202618 (FE) BRM ASL > BAHL IA (RIAD) fy 2026818 (FE) RONS RBS EH [Ig 2026%2
Slide 28: Fase Seng
08 Fase Seng RERBA S ORR
Slide 29: Strategy and targets
© RAPHE : MRIRAASORR AA 5faF BALE RRABSHSRAS MAAR 12268 ASHAORE RRR: RABE MRRIA SASH Sf = ARABSHSROTOL TI bBScHAY EA BRAUTAR Ap eres (EE " 2028 2A88E Clic SE500 MRO MR 20-258 20254125268 =" PMEEMBH - WSEAS pias Ts] 2026435318 HAE BARR: BURAORS CR LFE UGS) CL0+9ICDN— RL 2025 12R26HICRMA BRU PREOLOOMS
Slide 30: Lr Lr
Lr Lr rane LS HERORRAOMS &< SNC oS
Slide 31: Questions and answers
odc< SS8NCHS STARSEEDS? Ql: BIBER CHECOM, MABREEKTESOD? A: FOURBROCIRAET MSMR AOE RCSD, ARAB BB SET SLA. GPUS —/\— Sse CCL bh. MMH RST Asa Hb MDAARETT. Q2: AESREDRN TSA, SHldUES OD? A RSHZML | BB (AGS) -3OOBROK. MN PR-BRRCIL—. MBCMBER-BCHALS418% MRALUVALEL-MMRBRALBEASRW AAT Fe A: 3B HHRAICS UC, ME R
Slide 32: HEMEORAD 5S AT YHORACHEIET
@ HEMEORAD 5S AT YHORACHEIET RRS CAS
Slide 33: Shareholder returns
S SHORACKMRRS 1, Bic S BEA bY 3. bee MBM = RPAED 5 HBR ESORRAIR = ACBAILE : 41.8% " 20262 AHS4O+HDe—-—VORT Yb = D/ELY : 0.2968 " 2027#2A SC MRS OMS SHAE IC " BAF AA : 2.6(8 Bia 2. RIBRET—VAOLIAR-Ly— 1 4. BEBORAN = BlRLAILY— (BB) = HRAAARB ART = A/F—-Bey4a— (GPUY—/N\—) = PRBRILG LS + SEG = LR)L¥—HR (
Slide 34: Risks and sustainability
@ REBT FBRECS (FE) EcaieS (Fe) Rostra BAe 54 54 Res eS PRB RASA RRNCREET Bess REBROZAD ms MAE: MERACMSTY/tR (FE) = APE: SHENOWS CBRE L CHM EB ms ROSAGY : NERC AACM S/R CREB) me RASH: MMPS L (2024 SAAR CRT) me REMY : MM TIA <. REM REE OBIE: HRARAOACHEBMONT AEH RSRNORR : 202557 AORMBRS WER, 2025598 OG
Slide 35: PAR Ste
= 11 PAR Ste 20264 A RRP E
Slide 36: Forecast and schedule
HMB BICOWT STARSEEDS? | HMR EHBRRPE : 202648 (202652 AHi REA) RRARORA HEREOMBR (4A CHEE) a PRERORMRE : ARRR SHES - GPUY—N\-BRORIMHM LOBEL, BK = MRABEHES : AMET IL vs REEF) OMA LRA AT RE EF IOWA AEA AE m GPUD NB : FASC <6 MRSA = BEER : LO)||BERBOSTMI (2026F1 APE) (CkO. PFVF—-Yay =» RARSRE : MEER coOm
Slide 37: Summary of results
TAR FEBS", PBS ThaRR BCRALS 2026F2AMARB TE (iAH) +75% 41.8% 43fa FY26 BR vs FY25Se88 23.21 5K BWA - Maas RA-LY—-ARASEH | aE A — F: 3083 https://starseeds.co.jp/ © 2026 Starseeds Co., Ltd. All Rights Reserved.
Slide 38: Appendix
EB A Appendix EAE - MTZ
Slide 39: Company overview
a SHRz STARSEEDS> SHR RIL —- ARASH BReIXYb = Rens BS RHA Starseeds Co., Ltd. " ARAB SHS (202547H~) iEs4—-—F 3083 (REEAZYS— KF) = GPUY—/\—fRH (2025495 ~) Ava 19894F108 EETFSH RA 2B = Enshintktatt (2b 7 ba) = SUSPIC (DY ERE) AAS 9.818F) (20254811 AA) = tSHFFAN (LALyIRHM) RRR 3848 300% = RE-Y-AF LAMA (
Slide 40: Quarterly results trend
2 REMUS GEE) STARSEEDS> iar BRA eR Alss aang FY2024.02 3884 55. 348A Al. 0A Al. 548A A3. 387A FY2025.02 i288 51.148 A2. 8A A3. 648A AS. 348 FA FY2026.02 331203438 12. 8187 A2285A A2M4BBA ABBAA FY2026.02 3320438at 25.148 FL ATIBAA A828AA Al. 0f€ FA FY2026.02 B329+HARat 39. 518A A2. 518A A2. 6A A3. 01
Slide 41: Operating profit change factors
SimAfaMikR (+BIAB) RAE 14, 0189 Benz 4.9/8 weSH 18. 948 FA RHA 8. 5/8 HEA 5. 6(8FA MAES 4. 88 FA BoaaLs 25. 5% 15. 24874 7.318FA 22. 6&F 10. 447 6. 218A 5. 848 FA 23.2% FY2026.02 53300 °H HEAPS AR CASHESO.S5(1SF] (BIRDALL+28.2118F9),. MEISE (+15. 798). RERZORMRARS OR OWA (RMRHE19259F) CFSE. AAAALHS2
Slide 42: Monthly KPI trends
\ RARSSRESR GATE RIALE) STARSEEDS> SOA LARISA FRO Enshin + SPIC - FFA AIHLOMMRM (2026/1/658R) mts} (38~8A) @ FM (98~12A) 3A 4B 5A 6A 75 8A 95 108 11A PERLE 73. 1% 73. 3% 77. 2% 78. 4% 75. 8% 85.1% Seabee 83. 1% 82. 8% 90. 3h ane 59. 2% 57. 3% 59. 8% 65. 7% 68. 3% 84.6) seem 78. 4% 85. 6% 86. 5% 77.
Slide 43: Disclaimer
© B35 / Disclaimer STARSEEDS> ABE, AL-—LY-ARASHOSRSES OMBARICMG SERRE BNC LCHERENKED CHO, AiMEFOMS TE OMOMS | EMAS SOO TSH EKA’ ABH old. PROBS 6 REL. BR. HESORRPMICNS SIRO SENTUET. CHOC. AAA ERB CAF ARES RICBS< SHORESELUY MICkSOOCHD, RROREG. BARRO. HAHA, MAAR, MHTRROBLSORLGERICED, PHCAS< RESAAREDHSD