Feedforce : 【Delayed】Consolidated Financial Results for the Fiscal Year Ended May 31, 2022

About this update from Feedforce Group Inc.

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. June 30, 2022 Consolidated Financial Results for the Fiscal Year Ended May 31, 2022 (Under Japanese GAAP) Company name: Feedforce Group Inc ． Listing: Tokyo Stock Exchange Securities code: 7068 URL: https://feedforcegroup.jp Representative: Koji Tsukada, Representative Director and President Inquiries: Shingo Nishiyama, Director and CFO Telephone: +81-3-5846-7016 Scheduled date of annual general meeting of shareholders: August 26, 2022 Scheduled date to commence dividend payments: － Scheduled date to file annual securities report: August 30, 2022 Preparation of supplementary material on financial results: Yes Holding of financial results briefing: Yes (Yen amounts are rounded down to millions, unless otherwise noted.) 1. Consolidated financial results for the fiscal year ended May 31, 2022 (from June 1, 2021 to May 31, 2022) (1) Consolidated operating results (Percentages indicate year-on-year changes.) Net sales EBITDA Operating profit Ordinary profit Profit attributable to owners of parent Fiscal year ended Millions of yen % Millions of yen % Millions of yen % Millions of yen % Millions of yen % May 31, 2022 3,005 － 1,137 7.5 930 4.5 912 4.3 602 27.4 May 31, 2021 2,587 69.5 1,058 117.0 889 114.0 874 135.5 472 189.6 Note: Comprehensive income For the fiscal year ended May 31, 2022: ¥597 million [19.1%] For the fiscal year ended May 31, 2021: ¥501 million [94.8%] Basic earnings Ratio of ordinary Ratio of operating Diluted earnings Return on equity per share per share profit to total assets profit to net sales Fiscal year ended Yen Yen % % % May 31, 2022 23.20 22.63 22.5 12.6 31.0 May 31, 2021 18.88 18.21 28.5 15.0 34.4 Reference: Share of profit (loss) of entities accounted for using equity method For the fiscal year ended May 31, 2022: ¥ － million For the fiscal year ended May 31, 2021: ¥ △ 5million Note: 1. As the "Accounting Standard for Revenue Recognition" will be applied from the fiscal year ending May 31, 2022, the percentage change from the previous fiscal year is not shown for net sales. EBITDA is a sum of operating profit, depreciation, and amortization. The Company conducted a 4-for-1 stock split of common stocks as of December 1, 2020. The "Basic earnings per share" and "Diluted earnings per share" is calculated assuming that the stock split was conducted at the beginning of the previous consolidated fiscal year. (2) Consolidated financial position Total assets Net assets Equity-to-asset ratio Net assets per share As of Millions of yen Millions of yen % Yen May 31, 2022 8,019 3,148 37.2 114.06 May 31, 2021 6,467 2,401 36.6 91.34 Reference: Equity As of May 31, 2022: ¥2,983 million As of May 31, 2021: ¥2,366 million (3) Consolidated cash flows Cash flows from Cash flows from Cash flows from Cash and cash equivalents at end of operating activities investing activities financing activities period Fiscal year ended Millions of yen Millions of yen Millions of yen Millions of yen May 31, 2022 623 △ 880 699 3,636 May 31, 2021 1,333 △ 11 △ 312 3,193 2. Cash dividends Annual dividends per share Total cash Ratio of Payout ratio dividends to First Second Third Fiscal dividends Total (Consolidated) net assets quarter-end quarter-end quarter-end year-end (Total) (Consolidated) Yen Yen Yen Yen Yen Millions of yen % % Fiscal year ended － 0.00 － 0.00 0.00 － － － May 31, 2021 Fiscal year ended － 0.00 － 0.00 0.00 － － － May 31, 2022 Fiscal year ending 0.00 0.00 0.00 May 31, 2023 － － － (Forecast) 3. Consolidated earnings forecasts for the fiscal year ending May 31, 2023 (from June 1, 2022 to May 31, 2023) (Percentages represent year-on-year changes) Net sales EBITDA Operating profit Ordinary profit Profit attributable to Basic earnings owners of parent per share Millions of yen ％ Millions of yen ％ Millions of yen ％ Millions of ％ Millions of yen ％ Yen yen Fiscal year ending May 31, 2023 3,681 22.5 － － － － － － － － － (Forecast) Note: 1. EBITDA is a sum of operating profit, depreciation, and amortization. 2. We will not disclose profit and loss information for the consolidated earnings forecast for the fiscal year ending May 31, 2023, as it is difficult to calculate a reasonable figure. We will disclose the information as soon as the calculation becomes possible. * Notes Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): Yes Newly included: ３ companies (Shippinno Inc,FEEDFORCE VIETNAM COMPANY LIMITED,FRACTA Inc.) Excluded: None Changes in accounting policies, changes in accounting estimates, and restatement Changes in accounting policies due to revisions to accounting standards and other regulations: Yes Changes in accounting policies due to other reasons: None Changes in accounting estimates: None Restatement: None Number of issued shares (common shares) Total number of issued shares at the end of the period (including treasury shares) As of May 31, 2022 26,159,200 shares As of May 31, 2021 25,910,400 shares (ii) Number of treasury shares at the end of the period As of May 31, 2022 42 shares As of May 31, 2021 42 shares (iii) Average number of shares outstanding during the period Fiscal year ended May 31, 2022 25,976,848 shares Fiscal year ended May 31, 2021 25,045,016 shares Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation. Proper use of earnings forecasts, and other special matters Forward-looking statements, including the consolidated forecasts stated in these materials, are based on information currently available to Feedforce Group Inc. and certain assumptions deemed reasonable. Results may differ materially from the consolidated forecasts due to various factors. The Company changed its corporate name from Feedforce, Inc. to Feedforce Group Inc. as of September 1, 2021, following the transition to a holding company structure.

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