Orion Breweries, Ltd. · TSE:409A

Orion Breweries — FY2026 1H Earnings Presentation

38 slides from Orion Breweries's earnings presentation, November 2025

  1. Slide 1: ABMCHMEN TNS BHT ID—FOSIA PIL, KANO REA AICS CAFR ABOSERIC FS HMR ORES BHICL

    a AE ABMCHMEN TNS BHT ID—FOSIA PIL, KANO REA AICS CAFR ABOSERIC FS HMR ORES BHICL CBU, RROSA SL ERA EER LI CRASS AREMNBV ET. BH, ABSICHBRL CL SHIRL O —RORUEISSE LEP FOAEARIBUB CHUBBIEC UES.

  2. Slide 2: FY2025 1H highlights

    FY2025 1H 2026 3 2026 3 157 105% 100 27 129% 109 EBITDA 35 117% 106 9/25 2026 3 301 104% 39 113 EBITDA 55 106 4 EBITDA 26.8 24.4 GHD 26/3 9/25 1

  3. Slide 3: Orion

    Orion 202673AH CHRARZ

  4. Slide 4: FY2025 1H consolidated results

    FY2025 1H 2026 3   2026年 3月期 2025年 3月期 前期比 (%) 計画比 (%) 1H 1H 15,784 15,021 105.1% 100.2% 12,406 11,823 104.9% 99.9% 3,378 3,198 105.6% 101.4% 13,071 12,216 107.0% - 2,718 2,111 128.8% 109.1% 2,101 1,914 109.8% 106.4% 622 202 307.9% 119.6% 2,615 2,245 116.5% 108.3% 2,544 1,523 167.0% 109.6% 1,879 1

  5. Slide 5: EBITDA and RevPAR changes

    FY2025 1H  EBITDA +2.4  RevPAR +7.5 +10.3 +7.0 +17.4 +5.6 +39.6 4

  6. Slide 6: FY2025 1H segment results

    FY2025 1H  EC  25 4 -1.4  2025 4 9 95.3 88.8 1 +0.3 -1.4 EC +5.2 +1.0 +31.9 +2.9 +140.1 +82.3 +28.8 +15.6 5

  7. Slide 7: EBITDA and RevPAR by segment

    FY2025 1H 2026 3 EBITDA   RevPAR +24.4 +26.8 6

  8. Slide 8: Balance sheet and cash flow

    [EY senes-+ryya0-n8e Orion © BE AUAUMTIVRBOSHMC KORERERY SEBACUC, RAR AG, 967 BF. © AR AEA, ARO BCH RORY ESORIICKY, ARR AS 838 5A. © DY—FryVIIO— : FERRIES Fey VATU ERAMORIANS CHERL, PPVITZA. C eRe ») (SP) 2026223 A#A1H 202523 AEA iB BEA 43,908 50,875 6,967 MBH Ast 17,839 18,968 A1,129 Siar 26,069 31

  9. Slide 9: Orion

    Orion

  10. Slide 10: Full-year plan and 1H progress

    2026 3  9/25  1 9/25 40 A B C 2026年 3月期 前期比 (%) 2026年3月期 2026年3月期 2025年3月期 1H進捗率（％） 1H （通期計画） B/C A/B 売上高 15,784 30,106 28,866 104.3% 52.4% 内 酒類清涼飲料事業 12,406 24,456 22,728 107.6% 50.7% 内 観光ホテル事業 3,378 5,649 6,138 92.0% 59.8% 【参考】売上高（酒税抜き） 13,071 24,671 23,430 105.3% 53.0% 営業利益 2,718 3,945 3,479 11

  11. Slide 11: GHD

    GHD ※1  4 9/25 ※1 2025 9 2026 3 10

  12. Slide 12: Growth targets and EBITDA

    crams $f HA FIOM SEHK, Orion HPRHBECUCTAAITS3 DMOKPIOZAKICAlltT, WARBICEH. C PRA! ) EBITDAY—Y» GRBHRE) a WRR=)CAGR 0 0% w2 hy C 202623 AMieStH ) FoLis RRS) ARB EBITDAY—2 » (RtiR= ) 5.3% 22.45, 14.2: (FY24 22.3%) (FY24 10.8%?) 321: PRHABRRIL, 2025F8 AR ROBROBRCHY, SHMIVEO—I CSUR, A, MH ROMFLOSKETERER

  13. Slide 13: GHD RevPAR results

     GHD  9 RevPAR +10.0 +12.3 +5.3 +5.7 8.0 12.7 12

  14. Slide 14: EBITDA and RevPAR outlook

    2026 3 EBITDA   RevPAR +22.4 +22.3 13

  15. Slide 15: Orion

    Orion FAVA A RIC IIT 7ERRY HA

  16. Slide 16: Growth initiatives

    MPieCHIC RMR ST SEYVRAET IL RARICKSRA CORE = AUAVERTSORRIT ORE = PROM SRR CSS “RRCRAH’ Oink = RACER. RAL RROMENEE ~ tithe = RARRIE CORBA (F-N-RBEIA738.1%') wg fs, 7 @ at TAZ BLSICKS RA COWRA = AUAVE—LORHABHEI 6.9%! = BLE OAUAVE— IVA EEE 71.7% = BtSARLUPICAUA UAT DR = DSVRESEDULE PTR AMR = JUNGLIAORA

  17. Slide 17: Opportunity

    Opportunity   FY19:13 FY25 28 4.9 24.7 30.9 15.1 1.6 16

  18. Slide 18: Opportunity

    Opportunity   • • • • • 17 10/26 11/1

  19. Slide 19: Orion

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  20. Slide 20: Opportunity

    Opportunity   UK UK • • • • • • • • • • 19

  21. Slide 21: Opportunity

    Opportunity   • • • 8/29＠表参道 WALL&WALL 9/27 ラゾーナ川崎 9/2～＠ららぽーとTOKYO-BAY 10/15～＠あべのハルカス近鉄本店 20

  22. Slide 22: Opportunity

    Opportunity  Re PAR  • • • • • • • 20 21

  23. Slide 23: Opportunity

    Opportunity  50% CF 7.5% 15% 2 CF 22

  24. Slide 24: Appendix

    Orion Appendix

  25. Slide 25: GDP

    GDP 2024    7.0  2.2 969 966  137.3 146.9   2007 2023  GDP 160.0 13.3 7.5 3,783 9,835 3.74 4.37 2011 2025 2011 2021 24

  26. Slide 26: Appendix

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  27. Slide 27: Appendix

    SS easommmseciix, Orion © PROBAHSSIVIUVYNBHS 1 ASE OREM IMAC © PROXABREADLET-VN-JDVUIUS IRR SR BRE ROR TIS, BHHELT OMAABAS t HEAROBMICHS SS aaa ( BEANE MASE ) ¢ ERSOLREMOP ITI +) ra DeUFUP 2025#7A 25H RAs 4 PRB BE PAILS IE \V/4 HF SPMLMOKERE FAIS, BRESIES NSA WPhSIVaVReeEGS 00 05 10 15 20 23 JUNGLIA

  28. Slide 28: Company history

    1957 2025 2019 WATTA 2024 2019 2022 natura 2018 75 2002 2014 1975 1972 1966 1959 1957 1945 27

  29. Slide 29: Mission

    jPHED5 , AB ASB HARE, SeRAIC.

  30. Slide 30: Orion at a Glance

    | Woe Orion at a Glance Orion © OrionFSVREROU CT, FRAICS CBECSREE EI o RA BAICSIFSAUAY- F- RIDREROS UCR CO SU MRE Orion FY24%ba: 28,867855 ( REROMRCHR (EEA) ) C i ae ») (ESARARE)) (88-7) eb fe | 27,274 (81.6%) 6,139 (18.4%) an RID. Orion (6.1%) ae iw wae ae FFT TERT T— K&AIN 6,806 (20.4%) RA 26,607

  31. Slide 31: Brand ranking

    EARS SE—ILISUR AVA VISES SE—IVISIYREUT, BUM AUTS EDMMOAVAY FRITH RA TORLEN, MRE EE EAMMOAVAY--RIDb | EFRASAOIABHRIE TIT NEB AUAY-F- RID bhs bets (SGA) FESOm RACES 9,556 ARIOAL RRS! 8,680 ee 7913 Pt | eeouk | meseat 20 SUYE-IL 76.2 3 PEEL 75.4 4 oyttoe— 74.4 FYI9. -FY20.-FY21.—s«FY22.—sOsFY23.—sOFY24

  32. Slide 32: Appendix

    Appendix  5 24 15 • • • • • • • • • • • • ⾧ • • • ⾧ • • • • 31

  33. Slide 33: Appendix

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  34. Slide 34: Appendix

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  35. Slide 35: Appendix

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  36. Slide 36: Appendix

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  37. Slide 37: Appendix

    | Appendix R | D — BemotvIyes MONSUTA (A-ARSUP BRE) Orion: natura” 36

  38. Slide 38: Slide 38

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