Santen Pharmaceutical : Summary of Consolidated Financial Results for the Three Months Ended June 30, 2025 (IFRS)

About this update from Santen Pharmaceutical Co., Ltd.

Summary of Consolidated Financial Results for the Three Months Ended June 30, 2025 (IFRS) Listed Company Name: Santen Pharmaceutical Co.,Ltd Exchanges Listed: Tokyo (Prime Market) Stock Code: 4536 URL: https://www.santen.com/en Representative: Takeshi Ito, President and CEO Contact: Guillaume Sakuma, Global Head of IR (+81-6-7664-8621) Filing of Securities Report (Scheduled): August 7, 2025 Start of Distribution of Dividends (Scheduled): - Preparation of Supplementary Material of the Financial Results: Yes Holding of Presentation of Financial Results: Yes (for securities analysts and institutional investors) (JPY millions) Consolidated Performance for the Three Months Ended June 30, 2025 Operating Results Three months ended June 30, 2024 Three months ended June 30, 2025 Change Revenue 74,771 68,737 (8.1 ％ ) Core operating profit 15,882 9,707 (38.9 ％ ) Operating profit 13,155 7,573 (42.4 ％ ) Net profit for the period 10,607 5,863 (44.7 ％ ) Net profit for the period attributable to owners of the company 10,633 5,878 (44.7 ％ ) Total comprehensive income for the period 18,590 9,328 (49.8 ％ ) Basic earnings per share (yen) 29.59 17.32 Diluted earnings per share (yen) 29.50 17.28 Financial Position March 31, 2025 June 30, 2025 Total assets 409,277 408,123 Total equity 285,181 280,214 Total equity attributable to owners of the company 286,242 281,265 Total equity attributable to owners of the company ratio (%) 69.9 68.9 Equity per share attributable to owners of the company (yen) 839.20 836.51 Dividends Year to March 2025 Year to March 2026 (Forecasts) Year to March 2026 First quarter dividends per share (yen) - - - Second quarter dividends per share (yen) 17.00 - 19.00 Third quarter dividends per share (yen) - - - Year-end dividends per share (yen) 19.00 - 19.00 Annual dividends per share (yen) 36.00 - 38.00 (Note): Revisions to the forecasts of dividends from the latest announcement: No Consolidated Forecasts of Results for the Fiscal Year Ending March 31, 2026 Year to March 2026 Change Revenue 294,000 (2.0 ％ ) Core operating profit 54,000 (9.1 ％ ) Operating profit 44,000 (6.1 ％ ) Net profit for the year 33,500 (6.6 ％ ) Net profit for the period attributable to owners of the company 34,000 (6.2 ％ ) Basic earnings per share (yen) 102.66 (1.3 ％ ) (Note): Revisions to the forecasts of consolidated results from the latest announcement: No Presentation of figures on a core basis has been revised from the fiscal year ended March 31, 2025. Please refer to "1. Summary of Consolidated Results and Others (1) Summary of Consolidated Results for the Period" on page 3 of the attached material for details of the reconciliation from IFRS basis figures to core-based figures. At a meeting of the Board of Directors on May 13, 2025, the Board resolved to undertake a share repurchase. The share repurchase has been factored into the basic earnings per share forecasts. *Notes Significant changes in scope of consolidation during the period: No Changes in accounting policies and accounting estimates Changes in accounting policies required by IFRS : No Changes in accounting policies other than (i) : No Changes in accounting estimates : No Number of ordinary shares issued Number of shares outstanding at the end of period (including treasury shares) June 30, 2025 342,059,554 shares March 31, 2025 342,055,554 shares Number of treasury shares at the end of period June 30, 2025 5,603,415 shares March 31, 2025 691,515 shares Average number of outstanding shares June 30, 2025 339,167,250 shares June 30, 2024 359,145,969 shares (Note): The number of treasury shares at the end of the period includes shares (59,329 shares for the fiscal year ended March 31, 2025 and 592,329 shares at the first quarter of the fiscal year ending March 31, 2026) owned in trust for the stock compensation system. Such shares are included in the treasury shares which are excluded from the calculation of the average number of shares outstanding during the period *Audit by a certified public accountant or auditing firm for the quarterly consolidated financial statements: No *Explanations and other special notes concerning the appropriate use of business performance forecasts (Notes on forward-looking statements) The earnings forecasts and other forward-looking statements contained in this report are based on information currently available to the Company and on certain assumptions deemed to be reasonable by the Company. Actual results may differ from these forecasts due to various factors. (Method of obtaining supplementary explanatory materials for financial results and results presentation contents) The Santen Group plans to hold a conference call on the results for securities analysts and institutional investors on Thursday, August 7, 2025. The materials used in this briefing will be posted on our website. Accompanying Materials - Contents Summary of Consolidated Results and Others… 2 Summary of Consolidated Results for the Period 2 Summary of Financial Position for the Period 5 Information about Forecasts of Consolidated Financial Results and Other Forward-Looking 5 Statements……………………………………………………………………………………………… Condensed Interim Consolidated Financial Statements and Major Notes. 6 Condensed Interim Consolidated Statements of Income and Comprehensive Income… 6 Condensed Interim Consolidated Statements of Financial Position. 7 Condensed Interim Consolidated Statements of Changes in Equity. 9 Condensed Interim Consolidated Statements of Cash Flows. 11 Notes to Condensed Interim Consolidated Financial Statements 12 (Going Concern Assumption). 12 (Segment Information and Others)… 12 (Statement of Significant Changes in Shareholders' Equity) 12 (Significant Subsequent Events). 13 Consolidated Reference. 14 Revenue of Major Products. 14 Research & Development 15 Capital Expenditures, Depreciation and Amortization, Amortization of Intangible Assets 17 Associated with Products, and Research and Development Expenses..................................... FOREX. 17 - 1 - Summary of Consolidated Results and Others Summary of Consolidated Results for Period (I) Consolidated Results (JPY billions) Three months ended June 30, 2024 Three months ended June 30, 2025 Year-on-year change Revenue 74.8 68.7 (8.1%) Core operating profit *1 15.9 9.7 (38.9%) Operating profit 13.2 7.6 (42.4%) Net profit for the period 10.6 5.9 (44.7%) Net profit for the period attributable to owners of the company 10.6 5.9 (44.7%) EBITDA *2 18.2 12.0 (33.7%) [Revenue] Revenue in the three months ended June 30, 2025 decreased by 8.1% year-on-year to ¥68.7 billion. This was mainly due to the focus on expanding sales of new and mainstay products despite the impact of NHI price revisions and adjustments to channel inventory levels. Japan Revenue in the three months ended June 30, 2025 decreased by 9.6% year-on-year to ¥36.6 billion. NHI price revisions at the high end of the 1% level and the absence of the strong performance of Alesion products at the end of the previous fiscal year were partially offset by the focus on growing mainstay products such as RYJUSEA Mini which was launched in April 2025, EYLEA kit for IVT inj. 114.3mg/mL which was launched in May 2025 and Alesion eyelid cream. Within total Japan revenue, revenue from OTC (excluding China and Asia) increased by 21.4% year-on-year to ¥3.0 billion. China On a JPY basis, revenue in the three months ended June 30, 2025 decreased by 20.9% year-on-year (-14.0% excluding FX impact) to ¥6.3 billion. This was mainly due to the impact of adjustments to channel inventory levels. Starting this fiscal year, Hong Kong is included in the China segment rather than the Asia segment. For reference, the calculation of the year-on-year growth rate takes into account this change. Asia (excluding China) On a JPY basis, revenue in the three months ended June 30, 2025 decreased by 4.3% year-on-year (+2.8% excluding FX impact) to ¥6.8 billion. This was due to an increased competition in South Korea glaucoma market despite the steady growth of glaucoma and dry eye products sold in Southeast Asia. EMEA *3 On a JPY basis, revenue in the three months ended June 30, 2025 decreased by 0.2% year-on-year (+2.2% excluding FX impact) to ¥18.6 billion. This was mainly due to the focus on building leadership positions in the glaucoma and dry eye fields. [Core operating profit] Gross profit in the three months ended June 30, 2025 decreased by 13.2 % year-on-year to ¥37.1 billion. SG&A expenses in the three months ended June 30, 2025 decreased by 0.8% year-on-year (+2.0% excluding FX impact) to ¥21.2 billion. R&D expenses in the three months ended June 30, 2025 increased by 12.8% year-on-year (+16.9% excluding FX impact) to ¥6.2 billion. As a result, operating profit on a core basis in the three months ended June 30, 2025 decreased by 38.9% year-on-year (-37.1% excluding FX impact) to ¥9.7 billion. - 2 -

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