Lion : Summary of Consolidated Financial Statements for the First Quarter of Fiscal 2026

May 12, 2026

Company name: Lion Corporation

Listed stock exchanges: Tokyo Stock Exchange

Code: 4912

URL: https://www.lion.co.jp/en/

Representative: Masayuki Takemori, Representative Director, President and Executive Officer Contact: Akihiko Takeo, Executive Officer, Director of Finance Department

Telephone: +81-3-6739-3711

Dividend payment commencement date: -

Supplementary materials prepared for quarterly results: Yes

Quarterly results information meeting held: Yes (for institutional investors, analysts, etc.)

Figures in this and subsequent tables are truncated at the nearest million.

1. Consolidated Results for the First Quarter Ended March 31, 2026 (January 1, 2026 - March 31, 2026)

   1. Consolidated Results (cumulative)

      (Percentage figures denote year on year change)

      	Net sales		Operating profit		Profit before tax
      	Millions of yen 99,205 94,237	%	Millions of yen 6,292 5,636	%	Millions of yen 7,392 6,322	%
      Three months ended March 31, 2026		5.3		11.6		16.9
      Three months ended March 31, 2025		1.4		15.2		8.7

      	Profit for the period		Profit for the period attributable to owners of the parent		Total comprehensive income for the period
      Three months ended March 31, 2026 Three months ended March 31, 2025	Millions of yen 5,297 4,755	% 11.4 13.3	Millions of yen 4,206 4,026	% 4.5 13.5	Millions of yen 5,384 (1,329)	% - -

      Note: Core operating income for the three months ended March 31, 2026 was ¥6,015 million (up 13.8% year on year). Core operating income for the three months ended March 31, 2025 was ¥5,287 million (up 32.4% year on year). Core operating income is an earnings indicator the Company uses to measure regular business performance by subtracting selling, general and administrative expenses from gross profit.

      	Basic earnings	per	share	Diluted earnings	per	share
      	Yen			Yen
      Three months ended March 31, 2026		15.21			15.19
      Three months ended March 31, 2025		14.57			14.54

   2. Consolidated Financial Position

   	Total assets	Total equity	Equity attributable to owners of the parent	Ratio of equity attributable to owners of the parent to total assets
   March 31, 2026 December 31, 2025	Millions of yen 520,307 528,596	Millions of yen 349,708 348,419	Millions of yen 323,161 322,726	% 62.1 61.1

2. Dividends

   	Cash dividends per share
   	First Quarter	Second Quarter	Third Quarter	Year-End	Total
   Fiscal 2025 Fiscal 2026	Yen - -	Yen 15.00	Yen -	Yen 15.00	Yen 30.00
   Fiscal 2026 (forecast)		17.00	-	17.00	34.00

   Note: Changes from the most recently published forecast of dividends: No

3. Forecast of Consolidated Financial Results for the Fiscal Year Ending December 31, 2026 (January 1, 2026 - December 31, 2026)

(Percentage figures denote year-on-year change)

Notes: 1. Core operating income forecast: First half 2026 : ¥14,000 million

Fiscal 2026 : ¥35,000 million

2. Changes from the most recently published financial results forecast: No

1. Significant Change in Scope of Consolidation during Period: Yes

   Newly included: 8 companies (Company name) PNB Consolidated Pty Ltd and others Excluded: - company (Company name)

2. Changes in accounting principles, procedures and presentation methods in connection with the preparation of quarterly consolidated financial statements:

   1. Changes in accounting standards required under IFRS: No

   2. Other changes: No

   3. Changes in accounting estimates: No

3. Number of outstanding shares (common stock)

   1. Number of outstanding shares on balance sheet dates (including treasury stocks): As of March 31, 2026: 279,782,746 shares

      As of December 31, 2025: 279,782,746 shares

   2. Number of treasury stocks on balance sheet date:

      As of March 31, 2026: 3,116,125 shares

      As of December 31, 2025: 3,130,893 shares

   3. Average number of shares outstanding over period

Three months ended March 31, 2026: 276,656,670 shares

Three months ended March 31, 2025: 276,422,569 shares

• This report is not subject to review by a certified public accountant or external auditor.

• Appropriate use of results forecasts; other special items

The forecasts and projected operating results contained in this report are based on information available at the time of preparation and thus involve inherent risks and uncertainties, including those related to economic conditions, the competitive environment and exchange rate fluctuations. Accordingly, readers are cautioned that actual results may differ materially from those projected as a result of a variety of factors. For information on forecasts of operating results, see 1. Qualitative Information Concerning the Results of Operations for the First Quarter of the Current Fiscal Year (3) Forecast of Consolidated Financial Results on page 9.

Lion Corporation (Code 4912): Consolidated Financial Statements

for the First Quarter Ended March 31, 2026

Contents

1. Qualitative Information Concerning the Results of Operations for the First Quarter of

   the Current Fiscal Year 2

   1. Consolidated Performance 2

   2. Financial Status 9

   3. Forecast of Consolidated Financial Results 9

2. Condensed Interim Consolidated Financial Statements and Notes 10

   1. Condensed Interim Consolidated Statement of Financial Position 10

   2. Condensed Interim Consolidated Statement of Income and Statement of

      Comprehensive Income 12

   3. Condensed Interim Consolidated Statement of Changes in Equity 14

   4. Condensed Interim Consolidated Statement of Cash Flows 16

   5. Notes to Condensed Interim Consolidated Financial Statements 17

Notes relating to the assumption of a going concern 17

Segment Information 17

1

Lion Corporation (Code 4912): Consolidated Financial Statements

for the First Quarter Ended March 31, 2026

Consolidated results for the first quarter of fiscal 2026 (January 1, 2026-March 31, 2026) are as follows. Net sales amounted to ¥99,205 million, a year-on-year increase of 5.3% (or an increase of 1.7% at constant currency excluding exchange rate fluctuations). Core operating income came to ¥6,015 million, up 13.8% compared with the previous fiscal year, and operating profit to ¥6,292 million, up 11.6% year on year. Profit for the period attributable to owners of the parent totaled ¥4,206 million, up 4.5% compared with the previous fiscal year.

The Lion Group is efficiently advancing measures in line with the three basic policies of Vision2030 2nd STAGE, its three-year medium-term management plan, namely, strengthening business portfolio management, strengthening the management base and generating dynamism, while responding to changes in its business environment.

The Company is continuing to pursue the top priority material issue of expanding its oral healthcare business both domestically and overseas. In Beauty Care, positioned as a Challenge for Growth business, we acquired all shares of PNB Consolidated Pty Ltd, a company that manufactures and sells natural beauty care products in Australia, and made it a wholly owned subsidiary as part of our efforts to create new business opportunities. In addition, we have steadily advanced the review of our business portfolio, including making the decision to transfer the shares of two subsidiaries in the Chemical Products business.

(Millions of yen)

Note: Core operating income is an earnings indicator the Company uses to measure regular business performance by subtracting selling, general and administrative expenses from gross profit.

2