Iwatani : Announcement on Differences between FY2024 Forecasts and Consolidated Financial Results

About this update from Iwatani Corporation

Note: This document is a translation of the original Japanese version and provided for reference purposes only. In the event of any discrepancies between the Japanese original and this translation, the Japanese original shall prevail. May 14, 2025 To whom it may concern: Company name: IWATANI CORPORATION Representative: Hiroshi Majima President Code number: 8088(Tokyo Stock Exchange Prime Market) Contact: Tetsuo Matsuo General Manager Accounting Dept. Announcement on Differences between FY2024 Forecasts and Consolidated Financial Results Iwatani Corporation ("Iwatani") is notifying you of differences between the FY2024 forecasts announced on May 13, 2024 and the consolidated financial results announced today. Difference between FY2024 forecasts and consolidated financial results (April 1, 2024 to March 31, 2025) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Basic earnings per share *1 Million Yen Million Yen Million Yen Million Yen Yen Previous forecasts (A) 902,000 52,700 72,800 54,000 234.67 Results (B) 883,011 46,228 61,487 40,448 175.76 Difference (B-A) (18,988) (6,471) (11,312) (13,551) - Increase/Decrease (%) (2.1) (12.3) (15.5) (25.1) - (Reference) Results for the fiscal year ended March 31, 2024 *2 847,888 50,635 62,307 43,468 188.90 (Note) *1 The Company carried out a 4-for-1 share split of its common share as of October 1, 2024. Basic earnings per share and net assets per share have been calculated as if this share split were carried out at the beginning of the previous fiscal year. *2 The Company finalized the provisional accounting treatment for the application of equity method in the fiscal year ended March 31, 2025. As a result, figures for the fiscal year ended March 31, 2024 reflect the finalization of the provisional accounting treatment. Reasons for the differences Regarding the results for the FY2024, net sales were below the previous forecasts because sales of rechargeable battery materials for next-generation automobiles were weak and so on. Regarding operating profit, the profitability declined due to the weakening of helium markets, mainly in China, despite the sales volume of air-separated gas remained strong. In addition, due to the decrease of share of profit of entities accounted for using equity method related to Cosmo Energy Holdings Co., Ltd. and the recording of loss on withdrawal from project of a green hydrogen project using renewable energy in Queensland, Australia, ordinary profit and net profit attributable to parent company shareholders fell below the previously announced forecasts. (End)

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