Slide 1: Earnings Results for the Fiscal Year ended March 31, 2023
Ver.1.1 Earnings Results for the Fiscal Year ended March 31, 2023 May 11, 2023
Slide 2: Disclaimers
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
Slide 3: Total Defense
FY2022 Russian invasion of Ukraine How we went through the Escalated US-China tension drastic changes Financial system instability Total Defense (e.g., SVB, Credit Suisse) 3
Slide 4: FY2023 Continue Defense?
FY2023 How we operate based on the latest changes? Market environment Evolution of technology Stock market trends Rapid rise of Federal funds rate generative AI Geopolitical risks Continue Defense? 4
Slide 5: FY2023 Both Defense and Offense?
FY2023 How we operate based on the latest changes? Market environment Evolution of technology Stock market trends Rapid rise of Federal funds rate generative AI Geopolitical risks Both Defense and Offense? 5
Slide 6: Consolidated Results
Consolidated Results Some figures in this presentation are rounded and may not add up to the figures presented as the total. 6
Slide 7: Consolidated Results
Consolidated Results （¥ B） FY2021 FY2022 Change Net sales 6,221.5 6,570.4 +348.9 Loss on -3,434.7 -835.1 +2,599.7 investments Income before -869.6 -469.1 +400.4 income tax Net income -1,708.0 -970.1 +737.9 Net Income: Net income attributable to owners of the parent 7
Slide 8: Gain/Loss on Investments: SVF segment
Gain/Loss on Investments （¥ B） SVF segment -3,625.8 -5,322.3 ¥5.3T loss on investments at SVF FY2021 FY2022 SVF segment: SoftBank Vision Funds segment 8
Slide 9: Gain/Loss on Investments
Gain/Loss on Investments （¥ B） Investment Business of Holding ¥4.6T gain Companies segment SVF segment 4,560.5 Others mainly from 86.7 Alibaba transactions 104.4 -3,625.8 -5,322.3 ¥5.3T loss on investments at SVF -73.3 FY2021 FY2022 SVF segment: SoftBank Vision Funds segment 9
Slide 10: Gain/Loss on Investments: Materially improved
Gain/Loss on Investments （¥ B） Investment Business of Holding Companies segment SVF segment Others 4,560.5 Materially Consolidated 86.7 104.4 improved on consolidated -835.1 -3,625.8 basis -5,322.3 -3,434.7 -73.3 FY2021 FY2022 SVF segment: SoftBank Vision Funds segment 10
Slide 11: Income Before Income Tax (by segment)
Income Before Income Tax (by segment) （¥ B） FY2021 FY2022 Change Investment Business of Holding Companies 965.2 3,349.8 +2,384.7 SVF -2,553.0 -4,308.3 -1,755.3 SoftBank 849.7 592.8 -257.0 Arm 41.2 48.7 +7.5 Other/Reconciliations -172.6 -152.1 +20.5 Consolidated -869.6 -469.1 +400.4 SVF segment: Soft
Slide 12: Net Income (quarterly)
Net Income (quarterly) （¥ B） 3,033.6 Alibaba-related transactions 1,932.8 912.3 526.4 698.3 1,121.7 1,255.7 1,172.0 627.5 761.5 Improving 313.7 5.5 97.1 24.0 55.0 29.0 -57.6 -127.2 -397.9 -700.2 -783.4 -1,438.2 -2,100.6 -3,162.7 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 13: Impact of Forex (FY2022)
Impact of Forex (FY2022) Weaker JPY increased NAV and equity On NAV On accounting Equity +¥1.3T +¥1.3T Consolidated net income -¥0.8T For details of NAV, see Appendix “Definition and Calculation Method of SBG’s NAV and LTV (as of Mar 31, 2023)” 13
Slide 14: Debt Fixed/Floating Ratio
Debt Fixed/Floating Ratio (No Financial Risk from Interest Rate Hike） Minimal impact on interest payment from interest rate swings Fixed/Floating Ratio • Only 23% of SBG Debt is at floating rates of SBG Stand-alone Debt • Impacts on USD are offset by higher interest Floating rate; Floating rate; inc
Slide 15: SoftBank Vision Fund
SoftBank Vision Fund SoftBank Vision Funds: SoftBank Vision Funds Segment. Includes SVF1, SVF2, and LatAm Funds. Some figures in this presentation are rounded and may not add up to the figures presented as the total. 15
Slide 16: Gain/Loss on Investments (cumulative)
Gain/Loss on Investments (cumulative) USD basis (SVF1 + SVF2 + LatAm Funds) 66,374 （$ M） 60,821 56,808 55,867 31,245 26,353 20,166 16,398 The information contained herein is provided solely for illustrative 12,849 11,403 purposes on an SBG basis and individual investors' results may vary. 12,786 FY2
Slide 17: Gain/Loss on Investments (quarterly)
Gain/Loss on Investments (quarterly) USD basis (SVF1 + SVF2 + LatAm Funds) 34,467 （$ M） 13,567 10,910 FY21 Q1 4,607 5,554 3,549 3,768 2,285 2,869 2,969 FY21 FY19 Q3 958 785 630 715 Q3 941 The information contained herein is provided solely -1,748 for illustrative purposes on an SBG basis and individ
Slide 18: SVF1: Cumulative Investment Return
SVF1: Cumulative Investment Return (as of Mar 31, 2023) （$ B） 101.0 89.6 Exited 24.0 45.1 Public companies (investments 30.7 20.6 before exit) Private companies (investments 34.9 35.3 before exit) Investment cost Cumulative investment return The information contained herein is provided solely for il
Slide 19: SVF2: Cumulative Investment Return
SVF2: Cumulative Investment Return (as of Mar 31, 2023) （$ B） Exited 50.2 1.6 Public companies 8.1 (investments before exit) 31.9 2.4 4.3 Private companies (investments 40.5 before exit) 25.2 Investment cost Cumulative investment return The information contained herein is provided solely for illustr
Slide 20: Value Changes in Portfolio (cumulative)
Value Changes in Portfolio (cumulative) USD basis (SVF1 + SVF2 + LatAm Funds) Mar 31, 2022 Mar 31, 2023 No change No change Gain 26 co Gain +$62.9B (6%) +$46.3B 101 co 117 co 163 co (21%) (26%) (36%) 346 co 169 co (73%) Loss (38%) Loss -$31.7B -$54.8B $31,245M (449 co) -$8,524M (473 co) The informat
Slide 21: Gain/Loss on Investments (FY2022)
Gain/Loss on Investments (FY2022) USD basis (SVF1 + SVF2 + LatAm Funds) Total -$39,768M Markup Markdown +$3,613M (50 companies) -$43,381M (359 companies) (By main factor of markups; $ M) (By main factor of markdowns; $ M) + 540 + 876 +9 + 2,107 + 82 -1,818 -2,169 -8,869 -15,395 -15,129 Recent Perfor
Slide 22: Invested Amounts (SVF1+2): Focused on Defense
Invested Amounts (SVF1+2) （$ B） 15.6 14.1 9.6 Focused 5.0 on Defense 2.2 0.3 0.3 0.4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY2021 FY2022 Invested amounts are the sum of new and follow-on investments, including those through share exchanges. 22
Slide 23: Stock Offerings & Sales/Monetization (SVF1+2; FY2022)
Stock Offerings & Sales/Monetization （SVF1+2; FY2022） Stock offerings 4 companies Sales/ Monetization $7.7B etc. The number of stock offerings includes the number of IPOs and SPAC mergers (De-SPACs). Sales and monetization amount includes those through share exchanges and procured through asset-back
Slide 24: FY2022Q4: Fair Value Performance
FY2022Q4: Fair Value Performance Combined SVF1 SVF2 LatAm Funds +$0.2B -$1.5B -$0.8B -$2.1B Public Private investments investments +$1.9B -$3.9B Investments before exit (investments held as of Mar 31, 2023) The classification of portfolio companies as public/private is based on their status as of Ma
Slide 25: Gain/Loss on Investments (FY2022Q4)
Gain/Loss on Investments (FY2022Q4) USD basis (SVF1 + SVF2 + LatAm Funds) Total -$1,879M Markup Markdown +$4,639M (88 companies) -$6,518M (192 companies) (By main factor of markups; $ M) (By main factor of markdowns; $ M) + 95 + 222 + 1,202 + 2,921 + 200 -82 -1,279 -716 -169 -4,272 Recent Performanc
Slide 26: Current Status of Portfolio Companies
Current Status of Portfolio Companies Well- Prudent Poised to Disciplined capitalized valuations list publicly monetization strategy 94% • Market approach • Income approach $37B $56B+ • Recent transaction Investments with approach Fair value Cumulative proceeds 12+ months runway Late-stage portfolio
Slide 27: Arm
Arm 27
Slide 28: Arm Revenue
Revenue 2,817 2,665 3-year CAGR 16% 1,980 1,823 1,788 1,809 1,689 (Source) Arm 2016 2017 2018 2019 2020 2021 2022 After FY2017 excludes ISG revenues. ISG: Internet-of-Things Services Group Based on, but not necessarily in conformity with IFRS All numbers are unaudited and provided for directional in
Slide 29: Arm Adjusted EBITDA
Adjusted EBITDA 1,484 3-year CAGR 60% 999 827 596 428 371 365 (Source) Arm Arm’s Adjusted EBITDA for FY2018-19 excludes ISG direct costs only 2016 2017 2018 2019 2020 2021 2022 FY2020-21 also excludes some corporate costs associated with ISG ISG: Internet-of-Things Services Group 軸ラベル Based on, but
Slide 30: Arm confidentially submitted draft Form F-1
Arm has confidentially submitted a draft registration statement on Form F-1 to the U.S. Securities and Exchange Commission. The size and price range for the proposed offering have yet to be determined. The initial public offering is subject to market and other conditions and the completion of the SE
Slide 31: Initiatives in FY2022
Initiatives in FY2022 Some figures in this presentation are rounded and may not add up to the figures presented as the total. 31
Slide 32: Changes in Environment
Changes in Environment Russian invasion of Ukraine Unexpected Escalated US-China tension disruptions continue Financial system instability since early 2022 (e.g., SVB, Credit Suisse) 32
Slide 33: Stock Market Trends
Stock Market Trends 100 91.5 Golden Dragon China 91.3 S&P500 86.2 NASDAQ 81.3 NASDAQ-100 Technology Sector 70.7 Thomson Reuters Venture Capital Index 50 0 Mar 31 Jun 30 Sep 30 Dec 31 Mar 31 Latest 2022 2022 2022 2022 2023 (May 8, 2023) Stock market trends are illustrated with the value of each index
Slide 34: Our Response: Defense
Our Response Declared to focus on Defense Earnings Results Briefing, FY2021Q4 1 year ago 34
Slide 35: Our Response: Total Defense
Our Response Monetization Investment curtailed Total Defense Lean organization Debt reduction 35
Slide 36: Changes in Key Indicators (FY2022)
Changes in Key Indicators (FY2022) Mar 31, 2022 Mar 31, 2023 NAV (Net Asset Value) ¥18.5T ($150.8B) ¥14.1 ($105.8B) T LTV (Loan-to-Value) 20.4% 11.0% Cash position ¥2.9T ¥5.1T For details of NAV and LTV, see Appendix “Definition and Calculation Method of SBG’s NAV and LTV (as of Mar 31, 2022)” and “
Slide 37: Change in NAV (FY2022)
Change in NAV (FY2022) （¥ T） Forex Share impact price Decreased by ¥4.4T Share + 1.3 repurchase Others - 4.2 - 1.1 - 0.3 mainly due to NAV 18.5 lower share 14.1 prices of assets Mar 31, 2022 Mar 31, 2023 For details of NAV, see Appendix “Definition and Calculation Method of SBG’s NAV and LTV (as of
Slide 38: Changes in Key Indicators (FY2022Q4)
Changes in Key Indicators (FY2022Q4) Dec 31, 2022 Mar 31, 2023 NAV (Net Asset Value) ¥13.9T ($104.4B) ¥14.1 ($105.8B) T LTV (Loan-to-Value) 18.2% 11.0% Cash position ¥3.8T ¥5.1T For details of NAV and LTV, see Appendix “Definition and Calculation Method of SBG’s NAV and LTV (as of Dec 31, 2022)” and
Slide 39: Change in NAV (FY2022Q4)
Change in NAV (FY2022Q4) （¥ T） Share Forex price impact Others + 0.3 + 0.1 - 0.1 Increased by ¥0.2T mainly due to NAV 13.9 14.1 higher share prices of assets Dec 31, 2022 Mar 31, 2023 For details of NAV, see Appendix “Definition and Calculation Method of SBG’s NAV and LTV (as of Dec 31, 2022)” and “
Slide 40: NAV (Net Asset Value)
NAV (Net Asset Value) ¥14.1T ($105.8B) （Mar 31, 2023） 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 (FY) As of the end of each quarter For details of NAV, see Appendix “Definition and Calculation Method of SBG’s NAV and LTV (as of Mar 31, 2023)” Information on NAV is provided for
Slide 41: LTV excluding asset-backed finance
LTV (Net Debt / Equity Value of Holdings) excluding asset-backed finance 40% 35％ 30% 25％ 20% 18.7% 21.6% 20.4% 18.2% Materially improved 15.9% 14.5% 15.0% 12.2% 11.0% 10% 0% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY2020 FY2021 FY2022 As of the end of each quarter For details of LTV, see Appendix "Definition and
Slide 42: Cash Position
Cash Position （¥ T） 6.0 5.1 5.0 4.6 4.0 4.3 3.8 Materially 2.9 2.9 increased to >¥5T 3.0 2.8 2.1 2.1 2.0 1.0 0.0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY2020 FY2021 FY2022 As of the end of each quarter Cash position: cash and cash equivalents + short term investments recorded as current assets + undrawn commit
Slide 43: Monetization and Capital Allocation (FY2022)
Monetization and Capital Allocation (FY2022) (¥ T) +5.7 -0.4 SVF investments -1.1 Share repurchase Monetization -2.4 Debt repayment 5.1 Undrawn 0.6 commitment -0.1 line Undrawn 2.9 -3.8 commitment 0.1 line 4.5 2.7 Cash position Cash position (Mar 31, 2022) Increase Decrease Others (Mar 31, 2023) Con
Slide 44: Equity Value of Holdings: Diversified Portfolio
Equity Value of Holdings: Diversified Portfolio excluding asset-backed finance 5% Alibaba 23% 15% SBKK 43% 10% T-Mobile/ 10% Deutsche Telekom Further 5% 18% Arm 12% 8% 5% 9% SVF1・2 diversification 43% 45% 25% LatAm Funds 162 435 439 investments investments investments 10% 8% 8% Others Mar 31 Mar 31
Slide 45: Equity Value of Holdings: Geographical Diversification
Equity Value of Holdings: Diversified Portfolio 14% China 30% 18% Japan Greater 50% 11% 12% APAC （excluding China geographical 9% and Japan） 8% 27% EMEA diversification 8% 20% 12% 4% 5% Latin America 2% 21% 25% 25% North America Mar 31 Mar 31 Mar 31 2021 2022 2023 Classification of regions based on
Slide 46: Investment in Alibaba
Investment in Alibaba IRR ¥9.7T 57% （From 2000 to May 11, 2023) ¥7.4B Invested Monetized Total amount of investment in and total amount of monetization of Alibaba shares are calculated using historical foreign exchange rates. The total amount of monetization is net of costs related to monetization,
Slide 47: Established a solid defense
Established a solid defense 47
Slide 48: How We Will Operate in FY2023
How We Will Operate in FY2023 Some figures in this presentation are rounded and may not add up to the figures presented as the total. 48
Slide 49: Checkpoints to Turn to Offense
Checkpoints to Turn to Offense External factors Market environment Geopolitical risks Technological evolution Internal factors Resilience to the downside Financial strength and capacity for investment 49
Slide 50: Latest Market Trend
Latest Market Trend 120 117.1 NASDAQ 112.2 Thomson Reuters 110 Venture Capital Index 100 90 Dec 31, 2022 Mar 31, 2023 Latest (May 8, 2023) Latest market trend is illustrated with the value of each index on Dec 31, 2022 as 100. Created by SBG based on Bloomberg 50
Slide 51: Latest Market Trend: Public Investments of SVF1+2
Latest Market Trend: Public Investments of SVF1+2 140 130 120 117.1 NASDAQ 110.5 SVF1 110 109.9 SVF1+2 106.5 SVF2 100 90 Dec 31, 2022 Mar 31, 2023 Latest (May 8, 2023) Latest market trend is illustrated with the value of each index and funds on Dec 31, 2022 as 100. Created by SBG based on Refinitiv
Slide 52: Latest Market Trend: FFR
Latest Market Trend: FFR (%) 6 5.25 % 4 2 0 Jan 2022 May 2023 Created by SBG based on Bloomberg (Upper limit of the target range) 52
Slide 53: Latest Market Trend: VIX Index
Latest Market Trend: VIX Index 30 20 16.98 10 0 Dec 31, 2022 Mar 31, 2023 Latest (May 8, 2023) Created by SBG based on Bloomberg 53
Slide 54: Geopolitical Risk Indicator
Geopolitical Risk Indicator Now on a downtrend, after rising sharply due to the Russian invasion of Ukraine BlackRock Geopolitical Risk Indicator (Global Indicator) Source: BlackRock Investment Institute (BRII) (https://www.blackrock.com/corporate/insights/blackrock-investment-institute/interactive-
Slide 55: Market Outlook
Market Outlook Economic climate Inflation Markets are calmer now, but still worried about Federal funds rate Geopolitical risks geopolitical risks 55
Slide 56: Technological Evolution
Technological Evolution Generative AI Quantum computing Self-driving Biotechnology Advanced robotics Metaverse 56
Slide 57: Accelerated Spread of Generative AI
Accelerated Spread of Generative AI 2020 May GPT-3 announced Expectation for Versatile 2022 November ChatGPT released high market growth technology 2023 March GPT-4 announced 2023 March Bard (Google’s AI chatbot technology) Followed by Rapid adoption released tech giants by companies Expectation for
Slide 58: AI is Finally Here
AI is Finally Here 58
Slide 59: Someday, we will see data being analyzed by AI
Someday, we will see data being analyzed and reasoned about by AI. Semiconductor chips will then play a central role, surpassing human intelligence SBG Earnings results briefing, FY2016Q3, February 8, 2017 59
Slide 60: The Singularity
The ”Singularity”, when AI surpasses human intelligence, will be the biggest paradigm shift in human history. "SoftBank Group Corp. ANNUAL REPORT 2017" CEO message 60
Slide 61: Generative AI
TES ONLINE EDUCA" WORKING FROM HOME COMPUT! _ * BIOPRINTING TECHNOLOGY UTER VISION TEC OCCT VOICE ASSISTANTS “es a , 1ON ANALYSIS. ECHNOLOGY TELEMEDE ye coycarion DIGITAL GAMES USAGE, ne coa0Ts DEEP LEARNING INDUSTRY. iN may | TNuisgtbseue syorecunoL0oY INDUSTRY. INNOVATION & INFRASTRUCTURE SORELLE
Slide 62: Months to Reach 100M Global MAUs
Months to Reach 100M Global MAUs 2 months ChatGPT TikTok ChatGPT 9 months 28 months Instagram penetrates at an unparalleled 54 months Facebook speed 65 months Twitter Created by SBG based on "The Social Media platforms That Hit 100 Million Users Fastest", The Motley Fool, Apr 21, 2019 for Twitter an
Slide 63: Areas Expected to Become More Sophisticated with AI
Translation Customer Data analysis Conversation service Painting AI Game development Video production Text generation Programming This slide illustrates areas that SBG expects will become more sophisticated with AI. 63
Slide 64: Unlimited potential
Improving productivity Addressing social issues and more… Unlimited potential 64
Slide 65: Generative AI: We are all in
Language model Image generator *1 Video generator Voice generator *1 *1 Generative AI We are all in for the use of generative AI. These images are created with DALL-E 2. 65
Slide 66: Generative AI: Contribute to people's wellbeing
Language model Image generator *1 Video generator Voice generator *1 *1 Generative AI Contribute to people’s wellbeing These images are created with DALL-E 2. 66
Slide 67: Balance between Defense and Offense
Opportunities to Resilience invest in against market technological volatility evolution Balance between Defense and Offense 67
Slide 68: FY2023 Financial Strategy
FY2023 Financial Strategy Financial management Adhering to adaptable to both financial policy Defense and Offense 68
Slide 69: Adhering to Financial Policy
Adhering to Financial Policy Maintain LTV below 25% in normal times 1 (upper threshold of 35% even in times of emergency) 2 Maintain at least 2-year worth of bond redemptions in cash Secure recurring distributions and dividend income from 3 SVF and other subsidiaries 69
Slide 70: Respond to Both Defense and Offense
Respond to Both Defense and Offense Invest in the Defense against Information further downside Revolution, while maintaining financial stability Maintain LTV below 25% in normal times (LTV＝11.0% as of Mar 31, 2023) Maintain at least 2-year worth of bond redemptions in cash (Cash position＝¥5.1T as of
Slide 71: Capital Allocation
Capital Allocation New Shareholders investments return* Endeavor to strike a balance Financial policy （Financial stability） *The level of NAV discount is also considered. 71
Slide 72: Share Repurchase
Share Repurchase (¥ T) 2.2 Repurchased 1.1 ¥4.5T in total 0.4 0.6 in 5 years 0.2 2018 2019 2020 2021 2022 (FY) ¥4.5T is the total amount of share repurchase based on board resolutions on Feb 6, 2019, Mar 13, 2020, May 15, 2020, Jun 25, 2020, Jul 30, 2020, Nov 8, 2021, and Aug 8, 2022. SBG retired th
Slide 73: Summary
Summary 1 Solid defense now in place Getting ready to go on the offensive with the AI 2 revolution on the horizon Financial management that drives 3 both Defense and Offense Arm made a step towards relisting by confidentially 4 submitting a draft F-1 5 SVF focuses on increasing value of portfolio co
Slide 74: Information Revolution - Happiness for Everyone
“Information Revolution －Happiness for Everyone” 74
Slide 75: SoftBank
SoftBank
Slide 76: Appendix
Appendix Some figures in this presentation are rounded and may not add up to the figures presented as the total. 76
Slide 77: Definition and Calculation Method of SBG's NAV and LTV (Mar 31, 2023)
Definition and Calculation Method of SBG’s NAV and LTV (as of Mar 31, 2023) 1. NAV（Net Asset Value） ◦ NAV = Equity value of holdings - Net debt 2. Equity value of holdings (after adjustment for asset-backed financing) ◦ Alibaba: calculated by multiplying the number of Alibaba ADSs equivalent to the
Slide 78: Definition and Calculation Method of SBG's NAV and LTV (Dec 31, 2022)
Definition and Calculation Method of SBG’s NAV and LTV (as of Dec 31, 2022) 1. NAV（Net Asset Value） ◦ NAV = Equity value of holdings - Net debt 2. Equity value of holdings (after adjustment for asset-backed financing) ◦ Alibaba: calculated by multiplying the number of Alibaba ADSs equivalent to the
Slide 79: Definition and Calculation Method of SBG's NAV and LTV (Mar 31, 2022)
Definition and Calculation Method of SBG’s NAV and LTV (as of Mar 31, 2022) 1. NAV（Net Asset Value） ◦ NAV = Equity value of holdings - Net debt 2. Equity value of holdings (after adjustment for asset-backed financing) ◦ Alibaba: calculated by multiplying the number of Alibaba ADSs equivalent to the
Slide 80: SVF1 Public Portfolio Companies (as of Mar 31, 2023)
SVF1 Public Portfolio Companies (as of Mar 31, 2023) (a) (b) (c) = (b) - (a) (d) = (b) / (a) ($ M) Investment cost *2 Gross return *3 Gross gain (loss) *4 Company Gross MOIC to SVF1 to SVF1 to SVF1 Coupang 2,729 10,202 7,473 3.7x Doordash 680 7,327 6,647 10.8x Fully Exited NVIDIA 2,878 5,813 2,936 2
Slide 81: SVF2 Public Portfolio Companies (as of Mar 31, 2023)
SVF2 Public Portfolio Companies (as of Mar 31, 2023) (a) (b) (c) = (b) - (a) (d) = (b) / (a) Investment cost *2 Gross return *3 Gross gain (loss) ($ M) Company Gross MOIC *4 to SVF2 to SVF2 to SVF2 Fully Exited Beike (KE Holdings) 1,350 2,497 1,147 1.8x Symbotic 200 457 257 2.3x AutoStore 2,800 2,82
Slide 82: SVF1 (Inception to Mar 31, 2023)
SVF1 (Inception to Mar 31, 2023) (Entire Fund) LP Net Equity LP Net Preferred LP Net Blended IRR Equity IRR IRR 1% 7% 3% <Valuation Process> SBIA is responsible for determining fair values of the investments in SVF1 on a quarterly basis in line with the requirements of the AIFM Directive (as issued
Slide 83: SVF1 (Inception to Mar 31, 2023)
SVF1 (Inception to Mar 31, 2023) (SBG (LP) + Manager’s performance fee) Net Equity IRR <Valuation Process> 1% SBIA is responsible for determining fair values of the investments in SVF1 on a quarterly basis in line with the requirements of the AIFM Directive (as issued by the FCA). The SBIA Portfolio
Slide 84: SVF2 (Inception to Mar 31, 2023)
SVF2 (Inception to Mar 31, 2023) (SBG (LP)) Net Blended IRR -26% <Valuation Process> SBIA, as appointment investment adviser to SBGA, is responsible for determining fair values of the investments in SVF2 on a quarterly basis in line with the requirements of IFRS. The SBIA Portfolio Valuations team i
Slide 85: SVF1+2 (Inception to Mar 31, 2023)
SVF1+2 (Inception to Mar 31, 2023) (SBG (LP) + Manager’s performance fee) Net Blended IRR -11% <Valuation Process> SBIA is responsible for determining fair values of the investments in SVF1 and SVF2 (together, the “Funds”) on a quarterly basis in line with the requirements of the AIFM Directive (as
Slide 86: LatAm Funds (Inception to Mar 31, 2023)
LatAm Funds (Inception to Mar 31, 2023) (SBG (LP) + Manager’s performance fee) Net Blended IRR -11% <Valuation Process> SBIA, as appointment investment adviser to SBGA, is responsible for determining fair values of the investments in the LatAm Funds on a quarterly basis in line with the requirements