MODEC : 2025 Third Quarter Financial Results

November 12, 2025

Company name: MODEC, INC.

Listing: Tokyo Stock Exchange Securities code: 6269

URL: https://www.modec.com

Representative: Hirohiko Miyata, Representative Director, President Inquiries: Daisuke Tachibana, General Manager of Accounting Telephone: +81-3-5290-1200

Scheduled date to commence dividend payments: － Preparation of supplementary material on financial results: None Holding of financial results briefing: None

(US dollar amounts are rounded down to thousands.)

1. Consolidated financial results for the nine months ended September 30, 2025 (from January 1, 2025 to September 30, 2025)
   1. Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.)

      	Revenue		Operating profit		Profit before tax		Profit
      Nine months ended	US$ thousand	%	US$ thousand	%	US$ thousand	%	US$ thousand	%
      September 30, 2025	3,351,705	11.9	305,288	19.5	343,032	37.1	284,222	38.3
      September 30, 2024	2,994,718	20.5	255,466	189.2	250,124	165.4	205,458	268.6

      	Profit attributable to owners of parent		Total comprehensive income		Basic earnings per share	Diluted earnings per share
      Nine months ended	US$ thousand	%	US$ thousand	%	US$	US$
      September 30, 2025	245,521	43.6	250,517	49.3	3.59	3.59
      September 30, 2024	171,012	376.3	167,744	80.2	2.50	2.50

   2. Consolidated financial position

   	Total assets	Total equity	Equity attributable to owners of parent	Ratio of equity attributable to owners of parent to total assets
   As of	US$ thousand	US$ thousand	US$ thousand	%
   September 30, 2025	4,507,848	1,384,732	1,338,583	29.7
   December 31, 2024	4,496,651	1,198,468	1,180,435	26.3

   Note: The original condensed consolidated financial statements of MODEC, INC. and its subsidiaries (hereinafter "the Company") for the nine months ended September 30, 2025 and 2024 and for the year ended December 31, 2024 are presented in US dollars, which is the Company's functional currency. Therefore, the consolidated operating results and the consolidated financial position above are also presented in US dollars.

   For convenience purposes the consolidated financial results converted to Japanese yen in expediential manner are presented on page 4 of this summary information.

2. Cash dividends

   	Annual dividends per share
   	First quarter-end	Second quarter-end	Third quarter-end	Year-end	Total
   	yen	yen	yen	yen	yen
   Year ended December 31, 2024	-	30.00	-	50.00	80.00
   Year ending December 31, 2025	-	60.00	-
   Year ending December 31, 2025 (Forecast)				80.00	140.00

   Note: Revisions to the forecast of cash dividends most recently announced: Yes

3. Earnings forecast for 2025 (from January 1, 2025 to December 31, 2025)

(Percentages indicate year-on-year changes.)

Note: Revisions to the forecast most recently announced: Yes

The consolidated earnings forecast of the Company is prepared in US dollars, which is the Company's functional currency. For convenience purposes the consolidated earnings forecast converted to Japanese yen in expediential manner is presented on page 4 of this summary information.

1. Significant changes in the scope of consolidation during the period: None

2. Changes in accounting policies and changes in accounting estimates

   1. Changes in accounting policies required by IFRS: None

      1. Changes in accounting policies due to other reasons: None

      2. Changes in accounting estimates: None

3. Number of issued shares (ordinary shares)

1. Total number of issued shares at the end of the period (including treasury shares)

   As of September 30, 2025	68,345,300 shares
   As of December 31, 2024	68,345,300 shares

2. Number of treasury shares at the end of the period

   As of September 30, 2025	4,629 shares
   As of December 31, 2024	38,250 shares

3. Average number of shares outstanding during the period (cumulative from the beginning of the year)

• Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: Yes (voluntary)

• Proper use of earnings forecasts and other special matters

・Accompanying condensed quarterly consolidated financial statements and selected notes are presented in US dollars, which is the Company's functional currency.

・The US dollar amounts in the first page of this summary information is not tagged to XBRL data.

・Earnings forecast and other forward-looking statement included in this material are based on information currently available to the Company and are based on assumptions deemed reasonable. They are not meant to be a guarantee of future performance or outcomes. Actual results may differ materially subject to various factors.

(Yen amounts are rounded down to millions.)

1. Consolidated financial results for the nine months ended September 30, 2025 (from January 1, 2025 to September 30, 2025)
   1. Consolidated operating results (cumulative)

      (Percentages indicate year-on-year changes.)

      	Revenue		Operating profit		Profit before tax		Profit
      Nine months ended	million yen	%	million yen	%	million yen	%	million yen	%
      September 30, 2025	498,767	16.6	45,429	24.5	51,046	42.9	42,295	44.1
      September 30, 2024	427,705	15.0	36,485	176.1	35,722	153.4	29,343	251.9

      	Profit attributable to owners of parent		Total comprehensive income		Basic earnings per share	Diluted earnings per share
      Nine months ended	million yen	%	million yen	%	yen	yen
      September 30, 2025	36,536	49.6	37,279	55.6	534.74	534.59
      September 30, 2024	24,424	354.8	23,957	72.1	357.56	357.37

   2. Consolidated financial position

   	Total assets	Total equity	Equity attributable to owners of parent	Ratio of equity attributable to owners of parent to total assets
   As of	million yen	million yen	million yen	%
   September 30, 2025	670,812	206,061	199,194	29.7
   December 31, 2024	711,145	189,537	186,685	26.3

   Note: The amounts presented above are converted to Japanese yen in expediential manner from the consolidated financial results on page 1 of this summary information using the following exchange rates:

   September 30, 2025 at US$1.00 = 148.81 Japanese yen (TTM rate of Sumitomo Mitsui Banking Corporation as of September 30, 2025)

   September 30, 2024 at US$1.00 = 142.82 Japanese yen (TTM rate of Sumitomo Mitsui Banking Corporation as of September 30, 2024)

   December 31, 2024 at US$1.00 = 158.15 Japanese yen (TTM rate of Sumitomo Mitsui Banking Corporation as of December 30, 2024)

   The percentages indicating year-on-year changes for the consolidated operating results are calculated on Japanese yen basis presented above.

2. Earnings forecast for 2025 (from January 1, 2025 to December 31, 2025)

   (Percentages indicate year-on-year changes.)

   Full Year	Revenue		Operating profit		Profit before tax		Profit attributable to owners of parent		Basic earnings per share
   	million yen 654,764	% (1.1)	million yen 65,476	% 28.2	million yen 74,405	% 52.8	million yen 52,083	% 49.4	yen 762.12

   Note: The amounts presented above are converted to Japanese yen in expediential manner from the earnings forecast on page 2 of this summary information at US$1.00 = 148.81 Japanese yen at the TTM rate of Sumitomo Mitsui Banking Corporation as of September 30, 2025.

   The percentages indicating year-on-year changes are calculated on Japanese yen basis.

   • Contents

     1. Qualitative information on quarterly financial results 2

        1. Results of operations 2

        2. Financial position 2

     2. Condensed quarterly consolidated financial statements and selected notes 3

        1. Condensed quarterly consolidated statement of financial position 3

        2. Condensed quarterly consolidated statement of profit or loss and condensed quarterly consolidated statement of other comprehensive income 5

        3. Condensed quarterly consolidated statement of change in equity 7

        4. Condensed quarterly consolidated statement of cash flows 9

        5. Selected notes to the condensed quarterly consolidated financial statements 10

(Note to ability to continue as a going concern) 10

(Applicable financial reporting framework) 10

(Note to segment information) 10

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