Astellas Pharma : Presentation Material for Information Meeting (Q1/FY2022)

Q1/FY2022 FINANCIAL RESULTS

ENDED JUNE 30, 2022

Minoru Kikuoka

Chief Financial Officer (CFO)

Astellas Pharma Inc.

August 1, 2022

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
2
INFORMATION

In this material, statements made with respect to current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Astellas Pharma. These statements are based on management's current assumptions and beliefs in light of the information currently available to it and involve known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such factors include, but are not limited to: (i) changes in general economic conditions and in laws and regulations, relating to pharmaceutical markets, (ii) currency exchange rate fluctuations, (iii) delays in new product launches, (iv) the inability of Astellas to market existing and new products effectively, (v) the inability of Astellas to continue to effectively research and develop products accepted by customers in highly competitive markets, and (vi) infringements of Astellas' intellectual property rights by third parties.

Information about pharmaceutical products (including products currently in development) which is included in this material is not intended to constitute an advertisement or medical advice. Information about investigational compounds in development does not imply established safety or efficacy of the compounds; there is no guarantee investigational compounds will receive regulatory approval or become commercially available for the uses being investigated.

AGENDA	3

1. Q1/FY2022 Consolidated Financial Results
   II Initiatives for Sustainable Growth

Q1/FY2022 FINANCIAL RESULTS:
4
FX IMPACT AND ONE-TIME FACTORS （FULL BASIS）

Affected the significant FX impact incl. elimination of unrealized profit due to the sharp depreciation of yen in Q1 Financial results were on track when excluding FX impact and one-time factors

(billion yen)	Q1/FY21	Q1/FY22	1. FX impact	Q1/FY22	2. One-time Factors	Q1/FY22
(excl. 1)	(excl. 1&2)
Revenue	326.1	381.8	+35.5	346.3		346.3
Cost of sales	62.2	88.9	+18.5*	70.4	XTANDI: Royalty payment adjustment for prior year	68.6
% of revenue	19.1%	23.3%		20.3%	(+1.8)	19.8%
SG&A expenses	137.1	153.4	+16.7	136.7		136.7
US XTANDI co-pro fee	34.5	43.1	+6.7	36.4		36.4
SG&A excl. the above	102.6	110.3	+10.0	100.3		100.3
R&D expenses	58.3	74.0	+7.5	66.5	One-time expenses (+13.1)	53.4
Amort./Equity	5.7	10.4	+0.2	10.2		10.2
Gain on divestiture of	-	0.2	-	0.2		0.2
intangible assets
Core OP	62.8	55.3	-7.4	62.7		77.6
Other income	0.4	16.3	+14.1	2.2		2.2
Other expenses	27.1	38.4	-	38.4	fezolinetant: Increased fair value of contingent	24.8
consideration (+13.6)
Full OP	36.1	33.1	+6.7	26.5		55.0

No changes have been made to Full-year FCST as there are no items that are beyond expectations Expect to have a positive FX impact for the full year

* Incl. FX impact on elimination of unrealized profit (+12.3)

Amort./Equity: Amortisation of intangible assets/ Share of profit (loss) of investments accounted for using equity method

Q1/FY2022 FINANCIAL RESULTS: OVERVIEW	5

Revenue increased 17% YoY and was on track when excluding FX impact

• Sales of XTANDI and Strategic products increased 26% YoY
• Cost of sales ratio increased YoY due to significant FX impact
• SG&A expenses were on track and decreased YoY when excluding FX impact
• R&D expenses were on track

Operating profit

• Core OP decreased YoY, same level as previous year when excluding FX impact, progress on track
• Full basis decreased YoY
• • Booked net foreign exchange gains as Other income (14.1 billion yen)
  • Booked impairment losses on intangible assets:

Termination of research and development for AT702, AT751, AT753 (22.0 billion yen)

• Booked fair value remeasurements on contingent consideration for fezolinetant US NDA submission as Other expenses (13.6 billion yen)

Strategic products: PADCEV, XOSPATA, EVRENZO

NDA: New Drug Application