Supplementary Documents (Q2/FY2021)

Supplementary Documents [IFRS]

Financial results for the first six months of the fiscal year 2021 (FY2021)

Astellas Pharma Inc.

• Q2/FY2021 Financial Results
• • Six months ended September 30, 2021
  • Three months ended September 30, 2021
• Pipeline list

Cautionary Notes

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. 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,

1. 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.

S-1

[Six months ended September 30, 2021]

1. Consolidated Results (Full Basis)

		Change from
Unit: B¥	Previous Forecasts Latest Forecasts	FY20

	FY20	FY21	Change	Change		FY20		FY21	FY21	Change
	APR. - SEP.	APR. - SEP.		(%)		Full Year		Full Year	Full Year	(%)
Revenue	615.5	651.7	36.2	5.9%		1,249.5		1,323.0	1,323.0	5.9%
Cost of sales	119.5	124.7	5.2	4.3%		246.1
Ratio to Revenue	19.4%	19.1%				19.7%
Gross profit	495.9	526.9	31.0	6.3%		1,003.5
SG&A expenses	242.1	270.5	28.4	11.7%		504.3		541.0	541.0	7.3%
Ratio to Revenue	39.3%	41.5%				40.4%		40.9%	40.9%
XTANDI co-promotion fee in the United states	60.9	71.1	10.2	16.8%		120.2
Personnel expenses	90.2	96.0	5.8	6.4%		182.2
Advertising and Sales Promotion and Other	91.0	103.4	12.4	13.6%		201.9
R&D expenses	111.7	119.1	7.4	6.6%		224.5		242.0	242.0	7.8%
Ratio to Revenue	18.1%	18.3%				18.0%		18.3%	18.3%
Amortisation of intangible assets	11.5	12.4	0.8	7.2%		23.8
Share of profit (loss) of investments accounted for using equity method	-0.3	0.3	0.6	-		0.5
Other income	4.3	2.8	-1.4	-33.2%		7.6
Net foreign exchange gains	-	2.3	2.3	-		-
Fair value remeasurements on contingent consideration	3.9	-	-3.9	-100.0%		3.6
Other expense	47.7	38.0	-9.7	-20.3%		123.0
Impairment losses	34.6	26.1	-8.5	-24.6%		101.7
Restructuring costs	0.9	2.5	1.6	177.2%		9.3
Net foreign exchange losses	5.2	-	-5.2	-100.0%		2.3
Fair value remeasurements on contingent consideration	4.2	8.7	4.5	105.2%		6.0
Operating profit	86.9	90.2	3.3	3.8%		136.1		227.0	218.0	60.2%
Ratio to Revenue	14.1%	13.8%				10.9%		17.2%	16.5%
Finance income	3.4	1.9	-1.6	-45.2%		11.6
Finance expenses	1.2	3.0	1.7	142.3%		2.3
Profit before tax	89.1	89.1	-0.0	-0.0%		145.3		225.0	216.0	48.6%
Ratio to Revenue	14.5%	13.7%				11.6%		17.0%	16.3%
Income tax expense	16.3	17.5	1.2	7.5%		24.7
Profit	72.8	71.6	-1.2	-1.7%		120.6		183.0	174.0	44.3%
Ratio to Revenue	11.8%	11.0%				9.7%		13.8%	13.1%
Comprehensive income	78.1	70.1	-8.0	-10.3%		181.5

S-2

2. Consolidated Results (Core Basis)

		Change from
Unit: B¥	Previous Forecasts Latest Forecasts	FY20

	FY20	FY21	Change	Change		FY20		FY21	FY21	Change
	APR. - SEP.	APR. - SEP.		(%)		Full Year		Full Year	Full Year	(%)
Revenue	615.5	651.7	36.2	5.9%		1,249.5		1,323.0	1,323.0	5.9%
Cost of sales	119.5	124.7	5.2	4.3%		246.1
Ratio to Revenue	19.4%	19.1%				19.7%
Gross profit	495.9	526.9	31.0	6.3%		1,003.5
SG&A expenses	242.1	270.5	28.4	11.7%		504.3		541.0	541.0	7.3%
Ratio to Revenue	39.3%	41.5%				40.4%		40.9%	40.9%
XTANDI co-promotion fee in the United states	60.9	71.1	10.2	16.8%		120.2
Personnel expenses	90.2	96.0	5.8	6.4%		182.2
Advertising and Sales Promotion and Other	91.0	103.4	12.4	13.6%		201.9
R&D expenses	111.7	119.1	7.4	6.6%		224.5		242.0	242.0	7.8%
Ratio to Revenue	18.1%	18.3%				18.0%		18.3%	18.3%
Amortisation of intangible assets	11.5	12.4	0.8	7.2%		23.8
Share of profit (loss) of investments accounted for using equity method	-0.3	0.3	0.6	-		0.5
Operating profit	130.3	125.3	-5.0	-3.8%		251.4		270.0	270.0	7.4%
Ratio to Revenue	21.2%	19.2%				20.1%		20.4%	20.4%
Finance income	3.4	1.9	-1.6	-45.2%		11.6
Finance expenses	1.2	3.0	1.7	142.3%		2.3
Profit before tax	132.5	124.2	-8.3	-6.3%		260.6
Ratio to Revenue	21.5%	19.1%				20.9%
Income tax expense	26.3	25.5	-0.9	-3.4%		50.7
Profit	106.2	98.8	-7.4	-7.0%		209.9		213.0	213.0	1.5%
Ratio to Revenue	17.2%	15.2%				16.8%		16.1%	16.1%

- The Company has left its business forecasts on a core basis unchanged from the consolidated full-year business forecasts announced in July 2021.

3. Exchange Rate					Unit: yen				Previous Forecasts	Latest Forecasts
	FY20	FY21	FY20		FY21		FY20		FY21	FY21
	APR. - SEP.Ave.	APR. - SEP.Ave.	End		Q2 End		Full Year		Full Year	Full Year
USD/Yen	107	110		111	111		106		110	110
EUR/Yen	121	131		130	129		124		130	130

• Fx impacts: Revenue +24.5 billion yen and Core operating profit +11.5 billion yen
• Fx impact on elimination of unrealized gain: COGs ratio -0.1ppt

S-3

4. Reconciliation of Full Basis to Core Basis
						Unit: B¥
		FY20			FY21
		APR. - SEP.			APR. - SEP.
	Full basis	Adjustment	Core basis	Full basis	Adjustment	Core basis
Revenue	615.5	-	615.5	651.7	-	651.7
Cost of sales	119.5	-	119.5	124.7	-	124.7
Gross profit	495.9	-	495.9	526.9	-	526.9
SG&A expenses	242.1	-	242.1	270.5	-	270.5
R&D expenses	111.7	-	111.7	119.1	-	119.1
Amortisation of intangible assets	11.5	-	11.5	12.4	-	12.4
Share of profit (loss) of investments accounted	-0.3	-	-0.3	0.3	-	0.3
for using equity method
Other income *	4.3	-4.3	-	2.8	-2.8	-
Other expenses *	47.7	-47.7	-	38.0	-38.0	-
Operating profit	86.9	43.4	130.3	90.2	35.1	125.3
Finance income	3.4	-	3.4	1.9	-	1.9
Finance expenses	1.2	-	1.2	3.0	-	3.0
Profit before tax	89.1	43.4	132.5	89.1	35.1	124.2
Income tax expense	16.3	10.1	26.3	17.5	8.0	25.5
Profit	72.8	33.3	106.2	71.6	27.1	98.8

• "Other income" and "Other expenses" are excluded from Full basis results.
  "Other income" and "Other expenses" include gain/loss on sale and disposal of property, plant and equipment, impairment losses, restructuring costs, litigation costs and foreign exchange gains/losses, etc.

S-4

5. Revenue by Region										Change from
		Unit: B¥					Previous Forecasts	Latest Forecasts	FY20
		FY20	FY21	Change	Change		FY20		FY21	FY21	Change
		APR. - SEP.	APR. - SEP.		(%)		Full Year		Full Year	Full Year	(%)
Revenue	615.5	651.7	36.2	5.9%		1,249.5		1,323.0	1,323.0	5.9%
	Japan	144.2	130.5	-13.7	-9.5%		279.1		249.8	252.1	-9.7%
	Ratio to Revenue	23.4%	20.0%			22.3%	18.9%	19.0%
	United States	236.7	270.1	33.4	14.1%	473.2	544.6	552.5	16.8%
	Ratio to Revenue	38.5%	41.5%			37.9%	41.2%	41.8%
	Established Markets	138.9	157.4	18.5	13.3%	293.2	331.9	322.1	9.9%
	Ratio to Revenue	22.6%	24.1%			23.5%	25.1%	24.3%
	Greater China	29.6	33.1	3.5	11.8%	59.3	63.8	65.0	9.6%
	Ratio to Revenue	4.8%	5.1%			4.7%	4.8%	4.9%
	International Markets	56.7	55.3	-1.4	-2.5%	111.1	122.7	122.5	10.2%
	Ratio to Revenue	9.2%	8.5%			8.9%	9.3%	9.3%
	Others	9.3	5.3	-4.0	-42.9%	33.6	10.1	8.9	-73.5%
	Ratio to Revenue	1.5%	0.8%			2.7%	0.8%	0.7%

• Established Markets: Europe, Canada, Australia
• Greater China: China, Hong Kong, Taiwan
• International Markets: Russia, Latin America, Middle East, Africa, South East Asia, South Asia, Korea, Export sales, etc

6. Per Share Information								Previous Forecasts	Latest Forecasts
		FY20	FY21				FY20		FY21	FY21
		APR. - SEP.	APR. - SEP.				Full Year		Full Year	Full Year
The number of shares issued (thousand)	1,861,787	1,861,787				1,861,787
Treasury Shares (thousand)	4,313	8,904				8,758
The number of shares issued after deducting Treasury Shares (thousand)	1,857,473	1,852,882				1,853,029
Earnings per share (yen)	39.21	38.65				64.93		98.76	93.90
Earnings per share (yen) core basis	57.15	53.30				113.03		114.95	114.95
Dividend per share (yen)	21	25				42		50	50
7. Addition to Property, Plant and Equipment										Change from
Depreciation/Amortisation			Unit: B¥					Previous Forecasts	Latest Forecasts
								FY20
		FY20	FY21	Change	Change		FY20		FY21	FY21	Change
		APR. - SEP.	APR. - SEP.		(%)		Full Year		Full Year	Full Year	(%)
Addition to Property, Plant and Equipment
	Consolidated	14.6	13.0	-1.6	-10.8%		33.7		36.0	34.0	0.9%
Depreciation (PP&E)
	Consolidated	20.0	19.9	-0.1	-0.4%		40.0		43.0	42.0	5.0%
Amortisation of Intangible Assets (incl. software, etc.)
	Consolidated	16.0	17.2	1.2	7.6%		32.7		39.0	38.0	16.3%

- Addition to Property, Plant and Equipment does not include right-of-use asset

S-5