Terumo: Second Quarter Updates (with note)

Before we begin the earnings presentation, I would like to provide three key updates on the second quarter.

First, the acquisition of Arsenal Medical.

Second, an overview of Blood and Cell Technologies business and its strong foundation for sustainable growth.

And third, the voluntary recall at Terumo Aortic. Following the identification of endotoxin levels exceeding our specifications during pre-shipment test, we are currently conducting a voluntary recall of the affected products.

Let me start with the acquisition of Arsenal Medical and briefly revisit its strategic rationale behind the acquisition.

Forward-Looking Statements and Use of Document

Among the information that Terumo discloses, the forward-looking statements

including financial projections are based upon our assumptions using information available to us at the time and are not intended to be guarantees of future events or performance. Accordingly, it should be noted that actual results may differ from those forecasts or projections due to various factors. Factors affecting actual results include, but are not limited to, changes in economic conditions surrounding Terumo, fluctuations of foreign exchange rates, and state of competition. Information about products (including products currently in development) which is included in this material is not intended to constitute an advertisement or medical

advice.

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Expanding from Core to Adjacent Markets

Aneurysm

cSDH/MMAE

Acute Ischemic Stroke

Acquisition of Arsenal Medical

Accelerating Sustainable Growth through Adjacent Market Expansion

＊NeoCast is an investigational device and is not approved for commercial sale in the United States.

dAVF: dural arteriovenous fistula, AVMs: arteriovenous malformation, MMAE: middle meningeal artery embolization, cSDH: chronic subdural hematoma

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Expanding the Liquid Embolic Portfolio

PHIL: Terumo Neuro's established liquid embolic, already used in dAVF and AVMs

NeoCast* (Newly acquired) Next-generation liquid embolic designed specifically for MMAE

The acquisition of Arsenal Medical, which we announced on September 30, was completed on October 2.

The acquisition consideration is approximately 215 million dollars, plus contingent consideration based on the achievement of certain milestones.

Through this acquisition, we have added NeoCast, a next-generation liquid embolic designed specifically for middle meningeal artery embolization, or MMAE, for the treatment of chronic subdural hematoma.

In Terumo Neuro, we already offer PHIL, an established liquid embolic, and the addition of NeoCast further expands our portfolio in this category.

Strategically, the significance goes beyond expanding our product portfolio. This acquisition expands our business opportunities from our core neurovascular markets, including aneurysm and acute ischemic stroke, into adjacent markets such as cSDH and MMAE. Through this expansion, we will further accelerate the sustainable growth of our Neuro business.

TBCT Strong Foundation for Sustainable Growth

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Next, let me turn to Blood and Cell Technologies.

Today, I would like to revisit TBCT's overall business and the foundation for its sustainable growth.

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Automated cell therapy manufacturing

Follow the collection to treat the patient

xpand cells ith reduced

anual processin

Automate fill and finish

Consistent, standardized

cell collection

Collect cells from donors and patients

Process

Support a safe and adequate blood supply

Reduce pathogens Separate whole blood into components in blood components Category-defining device serving 70+ countries

Reveos

Automated blood

component collection

Collect blood components from donor

Versatile therapeutic apheresis

Separate blood into components to treat various conditions

Everything Starts with a Drop of Blood

One blood and cell therapy continuum. Built for the world's unmet needs

g

E

w m

s

Blood and cells are the foundation for many treatments in modern medicine. Our technologies support diverse global healthcare needs, from essential blood transfusion to advanced cell therapies.

What you see here is our continuum of care across collect, process, and treat. One of our greatest strengths is the breadth of technology and expertise we bring across this entire value chain.

In collection, we play an important role not only in blood transfusion, but also in the next generation of cell and gene therapies. Trima Accel is a market-leading platform serving more than 130 countries, while Spectra Optia is the gold standard in peripheral stem cell collections worldwide.

In processing, our technologies help support a safe and adequate blood supply. Mirasol helps reduce pathogens in blood components, while Reveos is creating a new market in automated whole blood processing and is now serving more than 70 countries.

In treatment, Spectra Optia supports a broad range of therapeutic apheresis procedures. In cell therapy, Quantum Flex and Finia help automate manufacturing processes.

Across this continuum, our software solutions and services including solutions such as TOMEs and Veda Solutions, connect technologies and data to help customers improve workflows, make informed decisions, and operate more effectively. This extends the value we provide beyond individual products.

Together, these capabilities position TBCT not just as a recognized leader in essential blood center and therapeutic apheresis markets, but as an engine driving overall market growth as care evolves toward more advanced and transformative therapies.

TBCT Sales Trends and Breakdown

Sustainable growth driven by steady growth in key products and an improved product mix

Business Growth

Steady growth over the past years

Revenue CAGR

+14% (+5%)

Evolving Product Mix

Increasing contribution from Reveos and Spectra Optia

Key platforms driving growth

Trima Accel

FY21

Sales*

FY25

Sales*

Reveos

Spectra Optia Others

FY21 FY22 FY23 FY24 FY25

* Excluding PI

GBS excl. PI GTI

Revenue CAGR in parentheses is calculated on a local currency basis

GBS: Global Blood Solutions, GTI: Global Therapy Innovations, PI: Plasma Innovations

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From FY21 to FY25, TBCT delivered strong and consistent growth, with revenue increasing at a CAGR of 14%, or 5% on a local currency basis. Importantly, even excluding Plasma Innovations, our core businesses have continued to grow steadily over this period.

At the same time, the mix of our business has evolved. Reveos and Spectra Optia have increased their contribution to sales, becoming increasingly important growth drivers within our portfolio.

This is significant because these are also platforms where we continue to see meaningful opportunities ahead. Our strong track record of growth, combined with an evolving product mix, provides a solid foundation for sustainable growth going forward.

＊vs. FY26 guidance announced in August 2026 Exchange rate (USD/EUR) 155JPY/180JPY

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Enhance Operational Excellence

Improve productivity and cost efficiency through global manufacturing and supply chain optimization

FY27

FY26

FY26 SAM

~$600 M

Opportunity

Expand Patient Access

through Spectra Optia

Broaden adoption across disease states and geographies by securing reimbursement for additional indications

FY26 SAM

~$1.2 B

Reve

Opportunity

Establish Reveos

as the Global Standard

Scale whole blood automation globally through greater utilization and geographic expansion

Toward Sustainable Growth

TBCT Growth Outlook

FY27 Revenue growth of 5%+

AOP increase of 5 B+ JPY* (AOP 20.4%)

nue excl. PI

Building on this growth, in FY27, we expect revenue growth of 5% or more, while targeting an AOP increase of 5 billion yen or more from our FY26 guidance announced in August. At the same time, we are focusing on three key areas to support sustainable growth going forward.

First, Reveos. Our goal is to establish Reveos as the global standard for whole blood processing. By automating a process that has traditionally relied on manual steps, Reveos can help customers improve efficiency and standardization. We see a significant opportunity ahead, with a serviceable addressable market of approximately 1.2 billion dollars in FY26. We plan to capture more of this opportunity by increasing utilization in existing markets and expanding into new geographies.

Second, Spectra Optia. Our focus is on expanding patient access by broadening adoption across disease states and geographies. Spectra Optia is already a well-established therapeutic apheresis platform and clinical evidence is growing in areas such as sickle cell disease. We see further

growth potential by building the clinical evidence needed to support wider use. Third, operational excellence. We will continue to improve productivity and cost efficiency by optimizing our global supply chain footprint. These initiatives are important not only for supporting growth, but also for driving continued margin improvement. We are also modernizing our infrastructure and leveraging digital technologies, AI and advanced analytics to improve efficiency, resilience and scalability.

Through these initiatives, we will continue to drive sustainable growth.

We will share more about our strategy and the opportunities ahead as part of our next five-year growth strategy, GS31, on December 15.

Voluntary Recall at Terumo Aortic

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Next, I will turn to Terumo Aortic.

Voluntary Recall at Terumo Aortic

Pre-shipment testing identified endotoxin* levels exceeding our specifications. A voluntary recall of the affected products is underway

Current Status

• Shipments suspended globally, including in Japan, since late October 2026; voluntary recall underway

• Affected products: Thoracic stent graft (RelayPlus, RelayPro), Abdominal stent graft (TREO)

  Background

• Sep. 2026: Endotoxin levels exceeding specifications identified; investigation initiated

• Oct. 2026: Voluntary recall decided based on investigation findings

  Actions

• Recalling affected products in working closely with regulatory authorities, distributors, and healthcare institutions

• Investigating root cause; corrective and preventive actions to follow based on the findings

  FY26 Financial Impact

• Revenue: -8 B JPY (impact of shipment suspension)

• OP: -41 B JPY (impact of the voluntary recall and risks related to asset values associated with TA business)

*Endotoxin: A substance derived from bacteria that may cause fever or inflammation in the body

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During pre-shipment testing of the stent grafts, endotoxin levels exceeding our specifications were identified. We have suspended shipments of the affected RelayPlus, RelayPro, and TREO products in all markets and are proceeding with a voluntary recall.

By way of background, in September, endotoxin levels exceeding our specifications were identified. This prompted us to conduct a broad investigation and review of the affected products and related manufacturing processes. The cause is still under investigation, and it is difficult to fully determine the scope of the potential impact. We therefore decided, in consultation with the relevant regulatory authorities, to initiate a voluntary recall.

We are currently working closely with the relevant regulatory authorities, distributors, and healthcare institutions to ensure the recall of the affected products. Manufacturing and shipments have also been suspended, and we will take the necessary corrective actions based on the findings of the investigation.

For FY26, we expect the voluntary recall to have a negative impact of approximately 8 billion yen on revenue and 41 billion yen on operating profit. The operating profit impact also incorporates risks related to the value of assets associated with the TA business. Jin Hagimoto will provide further details on the financial impact later in the presentation.

Looking Ahead

Drive initiatives for future growth

Acquisition of Arsenal Medical / Sustainable growth of Blood and Cell Technologies

Optimize resource allocation

Ongoing portfolio transformation embedded in management

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Finally, let me share our thoughts on the path forward. First, we will continue to pursue initiatives for future growth.

We will capture future growth opportunities by building on the acquisition of Arsenal Medical and the sustainable growth foundation of our Blood and Cell Technologies business.

At the same time, we will continue to optimize the allocation of our resources. Portfolio transformation is embedded in how we manage our business. We will continue to evaluate each business based on its growth potential, profitability, and capital efficiency, and make the necessary decisions without slowing the pace of transformation.

Finally, guided by our corporate mission of "Contributing to Society through Healthcare," we will continue to bring innovative products to healthcare providers and reliably supply products they can use with confidence.

Through these efforts, we will continue to enhance corporate value.

Next month, as part of GS31, we will lay out our roadmap for Terumo's further growth, and we hope you will find it of interest.

Thank you very much for your attention.