Slide 1: FY3/2026 Results
FY3/2026 RESULTS Bengo4.com, Inc. May 13, 2026 Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
Slide 2: Contents
Contents 01 FY3/2026 Results P. 3−8 02 FY3/2027 P. 9−19 03 Financial Policy P. 20−22 04 LEGAL BRAIN P. 23−28 05 Business Overview P. 29−47 06 Appendix P. 48−86 1
Slide 3: Vision・Mission
VISION・MISSION VISION Drive a paradigm shift for the better world. Be the Professional-Tech Company. MISSION Do what only professionals can do. Contribute to society using professional knowledge and technologies. 2
Slide 4: FY3/2026 Results
FY3/2026 Results 3
Slide 5: Topics for FY3/2026
Topics for FY3/2026 Net sales increased 15.7% YoY, and operating profit surged 58.7 % YoY, exceeding all plans. Net Sales 16,288 million yen + 15.7 % YoY EBITDA 3,186 million yen + 46.9 % YoY Operating Profit 2,204 million yen + 58.7 % YoY Ordinary Profit 2,197 million yen + 56.3 % YoY Net Profit 1,
Slide 6: Quarterly trend in Net Sales
Quarterly trend in Net Sales The fourth quarter saw the highest-ever QonQ increase in sales* Full-year net sales reached 16.28 Bil. JPY, exceeding the forecast of 16.1 Bil. JPY by 0.18 Bil. JPY 4,415 4,108 Sales of Business Lawyers （Mil. Yen） 393 Compliance are strong 3,962 4,000 3,793 3,802 308 299
Slide 7: Quarterly trend in ARR
Quarterly trend in ARR Company-wide ARR was 14.59 billion yen. ARR l CloudSign ARR grew by 20.5% YoY. CloudSign YoY 14.59 billion yen +20.5% (Bil.Yen) 14.0 13.67 13.22 12.73 12.77 Bengoshi.com and others CloudSign 11.77 4.8 11.12 10.66 10.72 4.7 4.9 10.02 4.6 4.7 4.6 4.5 8.09 4.5 7.62 7.67 4.5 6.81
Slide 8: Quarterly trend in SGA
Quarterly trend in SGA One-time expenses related to M&A activities, etc. (approx. 160 million yen) were incurred in Q4 Excluding one-time expenses, approx. 2.8 billion yen （Mil. Yen） 3,000 2,952 Other Expenses 2,618 Recorded M&A-related 458 expenses Amortization of goodwill and other 2,523 2,492 2,5
Slide 9: Quarterly trend in Operating Profits
Quarterly trend in Operating Profits Against the full-year operating profit forecast of 2 billion yen, we achieved a record profit of 2.2 billion yen In the fourth quarter, excluding one-time expenses, operating profit was approximately 700 million yen, with an operating profit margin of 15.9% Exclu
Slide 10: FY3/2027
FY3/2027 9
Slide 11: Trend in Net Sales and Plan for FY3/2027
Trend in Net Sales and Plan for FY3/2027 Net sales (Target) in FY3/2027 AI business 20.5 Legal Brain to make a full-scale 20.5 contribution to business performance billion yen YoY +25.9% CloudSign will continue organic growth against the backdrop of a SaaS business 16.28 growing and expanding e-cont
Slide 12: Trend in CloudSign Business Performance and Plan for FY3/2027
Trend in CloudSign Business Performance and Plan for FY3/2027 Net sales of the CloudSign business have achieved sustainable growth Operating profit margin has also continuously improved against the backdrop of a high marginal profit margin. We will continue to manage the business with an awareness o
Slide 13: Rapid Growth of Legal Brain Agent, an AI Business
Rapid Growth of Legal Brain Agent, an AI Business By establishing a sales structure at the end of the previous fiscal year and promoting the overwhelming value of the product, Legal Brain Agent is rapidly expanding, and will finally contribute to business performance from this fiscal year. Accelerat
Slide 14: Trend in EBITDA and Plan for FY3/2027
Trend in EBITDA and Plan for FY3/2027 4.3 EBITDA (Target) in FY3/2027 Record profit of billion yen, up +35.0% YoY 4,300 （Mil. Yen） 19.7% 4,000 21.0% 20.0% EBITDA 16.7% 19.6% EBITDA Margin 15.8% 15.4% 3,186 2,169 2,000 1,887 10.0% 6.3% 1,357 1,378 334 0 0.0% 2021.3 2022.3 2023.3 2024.3 2025.3 2026.3
Slide 15: Trend in Operating Profit and Plan for FY3/2027
Trend in Operating Profit and Plan for FY3/2027 3.0 Operating profit (Target) inFY3/2027 Record profit of billion yen, up +36.1% YoY Without M&A activities* Operating Profit With M&A activities 3,200 （Mil. Yen） Operating Profit Margin 3,000 3,000 20.0% 16.6% 2,204 16.9% 12.5% 14.6% 10.9% 13.5% 1,389
Slide 16: Trend in Net Sales Growth Rate + Operating Profit Margin (Rule of 40)
Trend in "Net Sales Growth Rate + Operating Profit Margin" (Rule of 40) Aiming for high net sales growth and profit generation with a focus on 40% for "Net Sales Growth Rate + Operating Profit Margin"* 39.2% 40.9% 40.5% Rule of 40 40% 10.9% 34.2% Net Sales Growth Rate 12.5% 14.6% Operating Profit Ma
Slide 17: Trend in Net Profit and Plan for FY3/2027
Trend in Net Profit and Plan for FY3/2027 2.0 Net Profit (Target) Real growth rate in FY3/2027 excluding one-time factors Record profit of billion yen,up +32.4% YoY +57.9 % （Mil. Yen） Excluding one-time factors 2,000 2,000 associated with capital reduction: The average growth rate of net profit excl
Slide 18: Increase in Incentive Grant Rate for Employee Stock Ownership Plan
Increase in Incentive Grant Rate for Employee Stock Ownership Plan Increased the incentive grant rate for the employee stock ownership plan from the current 5% to 25%* Participation rate in the stock ownership association rose from 24.8% to 64.4%, an increase of approximately 2.6 times 01 Purpose of
Slide 19: Competitive Advantage of Our Products Compared to General-Purpose AI Agents
Competitive Advantage of Our Products Compared to General- Purpose AI Agents Legal Brain Agent, an investment business, and CloudSign, a growth business, are products with strong competitiveness even when compared to AI agents Database Moat Network Effect Moat Possesses highly reliable and specializ
Slide 20: Emerging Overseas Legal AI Companies
Emerging Overseas Legal AI Companies The overseas legal AI market is expanding rapidly, led by Harvey Harvey AI Corporation • Founded in November 2022 • Provides AI agents specialized in the legal field • Number of companies that have introduced: Over 1,300, primarily law firms • ARR $190 million (A
Slide 21: Financial Policy
_ FY3/ 2027 © Bengo4.com, Inc. 2026 20 Financial Polic
Slide 22: M&A Track Record
M&A Track Record The two companies acquired in the past have achieved high results after joining the Group LIC (Joined the Group in October 2023) Bengo Kakumei (Joined the Group in April 2024) Operating profit for the current fiscal year: Current fiscal year ARR growth rate: + 80% ◎ 400 million yen
Slide 23: Investment Priorities
Investment Priorities At the current stage, which is a growth phase for both the market and the Company, funds are prioritized for M&A and business investments. We will continue to consider policies that contribute to maximizing shareholder value, without excluding options such as dividends and shar
Slide 24: LEGAL BRAIN
LEGAL BRAIN 23
Slide 25: Legal Brain initiative
Legal Brain initiative Lawyer database Lawyer Practice Database of legal precedents database Dispute Case Judge database database Leagal Public consultation Prosecutor Q&A database Legal Contract profession book database database Strengthen development M&A also utilized capabilities by hiring engine
Slide 26: What we hope to accomplish through Legal Brain
What we hope to accomplish through Legal Brain LAWYER BUSINESS CONSUMER Empowering Japanese society through legal services as "Japan's Legal Department" 25
Slide 27: Launch Provision of Legal Brain Agent
Launch Provision of Legal Brain Agent From May 2025, we started offering features to support complex legal research tasks. Going forward, we will gradually add features to comprehensively cover legal operations. Main features 01 Advanced research support using natural language • Extracts highly rele
Slide 28: Legal Brain Agent Usage and Benefits
Legal Brain Agent Usage and Benefits Legal Brain Agent is used in the legal departments of major financial institutions, large corporations, and law firms handling mainly corporate legal affairs. Companies using Legal Brain Agent* Benefits 01 Speedy research • Makes it possible to quickly conduct re
Slide 29: Legal Domain TAM
Legal Domain TAM The target market for Legal Brain has expanded to include the corporate legal affairs market in addition to the lawyer and contract markets. Expected to gain widespread adoption not merely as a tool but as a service that replaces labor costs. Corporate legal affairs and Contract-rel
Slide 30: Business Overview
Business Overview 29
Slide 31: CLOUDSIGN
CLOUDSIGN 30
Slide 32: Trend in Net Sales
Trend in Net Sales New MRR and net MRR reached record highs. Driven by strong demand for electronic contract services, the number of new acquisitions Sales reached a record high, exceeding the levels seen during the COVID-19 pandemic. The penetration rate of e-contract services in Japan remains low,
Slide 33: Trend in the number of contracts
Trend in the number of contracts （The number of contracts sent bearing an electronic signature and a timestamp） The number of contracts sent increased steadily, surpassing 3.24 million in the quarter. Trend in the Number of Contracts by Quarter Network effects of electronic contract service 3,246 2,
Slide 34: CloudSign introduction in different industries
CloudSign introduction in different industries The introduction of CloudSign continued to accelerate, especially among large companies and local governments. Banks, securities, insurance and other financials IT services, information, telecommunications, human resources and media Construction / Real
Slide 35: BENGOSHI.COM
BENGOSHI.COM Bengoshi means lawyer 34
Slide 36: Trend in Net Sales
Trend in Net Sales Following the acquisition of Hanreihisho, the customer attraction and business support services have thrived, as sales have increased revenue for ten quarters in a row. Cross-selling of Bengoshi.com Library and Hanreihisho is in progress. Trend in Net Sales ■ Bengoshi.com career e
Slide 37: Trend in the Number of Registered Lawyers
Trend in the Number of Registered Lawyers The number of registered lawyers reached 29,172, accounting for a 61% Accelerated sales of Hanreihisho and Bengo Kakumei drove an increase in paid registered lawyers. Share of domestic lawyers *2 Trends in Number of Registered Lawyers / ARPPU *1 From Q1 of F
Slide 38: Promotion of Sales Collaboration in Products for Lawyers
Promotion of Sales Collaboration in Products for Lawyers In the domain of services for lawyers, promoted group collaboration with Bengoshi.com, Hanreihisho, and BengoKakumei. 4,200 lawyers（Fixed price: 30,000 yen） Promoting product collaboration Marketing Product evolution with AI features between B
Slide 39: ZEIRISHI.COM
ZEIRISHI.COM Zeirishi means tax accountant 38
Slide 40: Zeirishi.com
Zeirishi.com Japan’s largest tax consultation portal site which has 720k visitors/month. 1. Tax Accountant introduction service • Provide introduction service by experienced tax coordinators. They choose the best one for client from among 7,358 registered tax accountants. 2. Tax consultation service
Slide 41: Trend in Net Sales
Trend in Net Sales Net sales reached record highs, and the average contract price remained at a high level After changes in listing ad operations, operations stabilized and the number of YoY contracts trended upward. +27.3 % Trend in Net Sales （Mil. Yen） 415 400 382 356 347 322 329 326 331 312 293 2
Slide 42: BUSINESS LAWYERS
BUSINESS LAWYERS 41
Slide 43: Business Lawyers
Business Lawyers Japan’s largest corporate legal portal site which has 340k visitors/month. 1. Registered lawyers explain the latest legal revisions and precedents • The lawyer who works in Nishimura & Asahi, Mori Hamada & Matsumoto, Nagashima Ohno & Tsunematsu, Anderson Mori & Tomotsune, TMI etc. 2
Slide 44: Quarterly trend in ARR
Quarterly trend in ARR Business Lawyers Library: a slight decrease in the number of companies and an improvement in ARPPU. Organizational changes have strengthened the sales structure of Legal Brain Agent, accelerating future sales. Quarterly trend in ARR 529 540 （Mil. Yen） 500 439 425 403 Recurring
Slide 45: Corporate Topics
Corporate Topics 44
Slide 46: Bengoshi.com news Video Media
Bengoshi.com news Video Media Number of channel subscribers exceeded 300,000 Delivering trending news from a professional perspective in an easy-to-understand manner Developing video media Number of views ● "Monologue of a 91-year-old life prisoner": 550,000 views ● "Former Maiko: Modern Slavery": 1
Slide 47: Nikkei Mook Supervised by Bengo4.com, Inc. Published
Nikkei Mook Supervised by Bengo4.com, Inc. Published "Nikkei Mook: The Forefront of LegalTech" A mook providing a comprehensive explanation of the latest trends in "LegalTech," which supports legal affairs with digital technology Contents Part 1 Compliance Management and LegalTech Part 2 LegalTech T
Slide 48: Ms. Rie Nakamura Appointed as a Candidate for Outside Director
Ms. Rie Nakamura Appointed as a Candidate for Outside Director Based on her experience in building a strong sales organization at M3, we expect her to promote Legal Brain and CloudSign to legal professionals. RIE NAKAMURA Profile Graduated from the Faculty of Letters, Kansai University. While a stud
Slide 49: Appendix
APPE NDIX © Bengo4.com, Inc. 2026 48 Appendix
Slide 50: Summary for FY3/2026
Summary for FY3/2026 EBITDA = Operating Profit + Depreciation and amortization + Goodwill amortization +Stock-based compensation expense + Equity gains (losses) of affiliated companies （Mil. Yen） FY3/2026 FY3/2026 前年同期比で、売上高は15.7%の増収、営業利益は 58.7%の増 FY3/2025 Announced Actual /Forecast YoY 益 Actual Act
Slide 51: Balance sheet
Balance sheet （Mil. Yen） 利益剰余金の増加等により、純資産は1,734百万円増加。自己FY3/2026 Q4 FY3/2025 Q4 YoY 資本比率は53.2% Current Assets 8,525 6,604 +1,921 Cash and equivalents 5,199 4,171 +1,028 Fixed Assets 4,855 4,692 +163 Total Assets 13,381 11,296 +2,084 Current Liabilities 3,770 3,253 +517 Fixed Liabilities 2,400 2,604 -
Slide 52: Corporate Profile
Corporate Profile Name Bengo4.com, Inc. Place 4-1-4 Roppongi, Minato-ku, Tokyo Date of establishment 4th Jul., 2005 Representative Director Taichiro Motoe Consolidated: 638, Employees Non-consolidated: 610 (As of March 31, 2026) Group companies LIC CO., Ltd Japan Legal Network Co., Ltd. MIKATA Small
Slide 53: Vision・Mission
VISION・MISSION VISION Drive a paradigm shift for the better world. Be the Professional-Tech Company. MISSION Do what only professionals can do. Contribute to society using professional knowledge and technologies. 52
Slide 54: Board Members
Board Members Representative Director, President and CEO Outside Director Taichiro Motoe Fumihiko Ishimaru Joined Anderson Mori & Tomotsune Foreign Law Joint Enterprise Representative Director of Accord Ventures, Inc. and subsequently founded Authense Law Office. Former executive officer of Digital
Slide 55: Corporate History
Corporate History Japan Legal Network Co., Ltd. and MIKATA Small Amount Short-Term Insurance Co., AI business Ltd., joined the Group Released “Legal Brain Agent” to support legal research work 2025 Transferred to the Tokyo Stock Exchange Prime Market Bengo Kakumei Inc., a Provider of Digital Case 20
Slide 56: BENGOSHI.COM
BENGOSHI.COM Bengoshi means lawyer 55
Slide 57: Social background of legal consulting services in Japan
Social background of legal consulting services in Japan 11.11 Million people had troubles / disputes over legal matters in a year. Only 26.5% of these people sought Lawyer’s advices. Reasons why they hesitated to ask professional’s help were: Concerns over professional fees 34.7%; / It’s a too minor
Slide 58: Background of lawyer's business in Japan
Background of lawyer’s business in Japan Environments of lawyer’s business has been changing rapidly since the judicial system reform in 2000, such as lifting of ban on advertisements, liberalization of fees, and new bar examination, which was meant to increase number of lawyers in Japan. Number of
Slide 59: Market Environment of the Legal Services Industry in Japan
Market Environment of the Legal Services Industry in Japan The legal services industry has been growing since 2000 due to progress in the development of new customers, as marketing needs for lawyers grow together with the increase in the actual number of lawyers. Legal services market size 25.6 mill
Slide 60: Value proposition of Bengoshi.com
Value proposition of Bengoshi.com A web-based platform for consumers and lawyers, to realize “familiar legal service”. Provides information and services about free legal consulting and detailed information about lawyers for consumers. Consumers Lawyers Hesitate to seek Want to reach out to Support f
Slide 61: Why Bengoshi.com?
Why Bengoshi.com? The largest free legal consultation portal in Japan which has 5.891M visitors/month.* 1. Because the lawyer offers user legal advice for free on the internet service • The outstanding database which has over 1,486k records of consulting cases* 2. Because it has a substantial databa
Slide 62: Services of Bengoshi.com provides
Services of Bengoshi.com provides Provides each kind of contents according to seriousness of issues users have. Targets Contents provided Benefit for users Consumers who have urgent Users can search for the most appropriate “List of lawyers” matters and are willing to seek lawyer for free thanks to
Slide 63: Overview of marketing support service for lawyers
Overview of “marketing support service for lawyers” A marketing support service for lawyers, which helps them acquire clients • The number of visitors to the site has exceeded 10 million. • Acquiring potential clients efficiently based on the focus area of each lawyer Price 20,000 yen or more per mo
Slide 64: Overview of research support service for lawyers
Overview of “research support service for lawyers” Making lawyer book research more comfortable. • Monthly subscription service for law books • "Book browsing" "research service" functions can be used while working from home Price 9,000yen per month Number of books Over 4,200 books Participating pub
Slide 65: Overview of Services for Lawyers (Research Support)
Overview of Services for Lawyers (Research Support) Precedents database with by far the largest share in the industry • The usage rate of the precedents search service by lawyers is 95%. • Hanreihisho in particular is used by all judges and prosecutors, and is the dominant service among the three el
Slide 66: Overview of Services for Lawyers (Business Support)
Overview of Services for Lawyers (Business Support) Digital document organization tool developed by lawyers for lawyers • It supports transition of lawyers’ practice style to one that makes efficient use of digitalized documents. • Empowering Lawyers with the Power of Digital x AI • It supports the
Slide 67: Growth Cycle of Bengoshi.com
Growth Cycle of — Bengoshi.com Increased DB draws more visitors, which stimulates new registration of lawyers who seek to reach out expanded number of users. Lawyer’s action Databases grow Advice for consumers Counselling Register to the website Lawyer list Lawyers Consumers Consumer’s action Visit
Slide 68: CLOUDSIGN
CLOUDSIGN 67
Slide 69: Overview of CloudSign
Overview of CloudSign Cloud-based e-contracting service from contract conclusion to contract management. Upload a completed contract that has been negotiated and approved by the other party, and the contract is concluded. The recipient of the document does not need to be registered with CloudSign. U
Slide 70: Usage Image
Usage Image Sender Upload PDF documents Enter Destination Document preparation Send Receiver Sender Receiver Receive by mail Contract confirmation Final step after conclusion of agreement and agreement The signed documents will be automatically e-mailed to the sender and receiver. (It is automatical
Slide 71: Documents used for CloudSign (examples)
Documents used for CloudSign (examples) Human Resources Sales Leases Employment contract Sales Contract Building Lease Agreement Working conditions notice Land purchase agreement Land Lease Agreement Offer of employment Building Sales Contract Parking Lot Rental Agreement Employment agreement Real e
Slide 72: Benefits of CloudSign
Benefits of CloudSign Speed up process Reduce cost Strengthening of compliance With CloudSign, contract signing Shipping cost, paper cost,printer No more losing/missing paper or process will be shorten by 1-2 ink cost, and stamp tax will no altering of contract. weeks, which boosts up upside of long
Slide 73: Price of CloudSign
Price of CloudSign Free Light Corporate Enterprise Fixed fee 0 JPY/Month Fixed fee 11,000 JPY/Month Fixed fee 28,000 JPY/Month Fixed fee To be inquired Pay- per-use 0 JPY/Month Pay- per-use 220 JPY/Sending Pay- per-use 220 JPY/Sending Pay- per-use 220 JPY/Sending Plan contents Plan contents Plan con
Slide 74: Why CloudSign?
Why CloudSign? 1. Cloud contracting service offered by Bengoshi.com • Our Company, which has a deep understanding and knowledge of Japanese law, provides legally reliable products under the supervision of a lawyer. 2. Product development in line with Japanese business practices • In order to expand
Slide 75: CloudSign services
CloudSign services Conclusion of Automatic a contract conversion to data CloudSign Kanri CloudSign scan It facilitates contract management operations with It handles the process from scanning contract AI, which automatically identifies the counterparty documents to storing documents and to the contr
Slide 76: BUSINESS LAWYERS
BUSINESS LAWYERS 75
Slide 77: Business Lawyers Library fee structure
Business Lawyers Library fee structure Business Lawyers Library, an all-you-can-read book service for corporate legal affairs. Light plan Standard plan Enterprise plan The plan enables an individual to conduct A standard plan that includes education he plan includes compliance training minimum resea
Slide 78: Status of introduction of Business Lawyers Library
Status of introduction of “ BUSINESS LAWYERS LIBRARY ” From the website of "BUSINESS LAWYERS LIBRARY” The service is used by mainly leading law offices and large companies. https://www.businesslawyers.jp/lib/about 77
Slide 79: Advertisement on the websites
Advertisement on the websites Advertising sales on the "Bengoshi.com" and "Zeirishi.com" websites, as well as advertising sales associated with the Business Lawyers conference. Website Conference Advetisements 78
Slide 80: SUSTAINABILITY
SUS —FAINA © Bengo4.com, Inc. 2026 79
Slide 81: Basic Policy on Sustainability
Basic Policy on Sustainability Going forward, we will work together with all Three Viewpoints stakeholders to drive the creation of a sustainable society, by facing the resolution of social issues from three perspectives, 01 For General and empowering society. 02 For Professional 03 For Enterprise G
Slide 82: Material Issue Map
Material Issue Map Importance to society Access to and use of expert knowledge Response to Information security climate change and protection of privacy Advancing DX services and improving productivity Strengthening corporate Diversity and governance inclusion Training and Corporate ethics creation
Slide 83: MSCI ESG Ratings
MSCI ESG Ratings Bengo4.com receives “BBB” rating from MSCI ESG Ratings Recognized for strong initiatives in "Information security and protection of privacy," a key material issue. The MSCI ESG Ratings,* issued by Morgan Stanley Capital International Inc. (MSCI), evaluate companies worldwide based o
Slide 84: Risk Information
© Bengo4.com, Inc. 2026 83
Slide 85: Risk Information 1
Risk Information 1_ Risks identified as having the potential to materially impact future growth Degree of Item Major Risks Possibility/Timing Influence Countermeasure Business Environment Rapid changes that we do not anticipate, and delays in responding to such changes, Medium/Medium Responding by d
Slide 86: Risk Information 2
Risk Information 2_ Risks identified as having the potential to materially impact future growth Degree of Item Major Risks Possibility/Timing Influence Countermeasure The Group will use a variety of As the Group expands its business in the future, it will need to continually recruit and recruiting m
Slide 87: Warning
WARNING This document is meant for explaining the company’s business itself and doesn’t mean any inducement or persuasion for buying stocks or/and bonds of the company. This document include descriptions about prospects for future which are based on information available as of today, and actual situ