Sumitomo Pharma : Jan. 31, 2023 Q3 FY2022 Conference Call

Q3 FY2022 (April 1 to December 31, 2022)

Conference Call

Sumitomo Pharma Co., Ltd.

January 31, 2023

Disclaimer Regarding Forward-looking Statements

This material contains forecasts, projections, goals, plans, and other forward-looking statements regarding the Group's financial results and other data. Such forward-looking statements are based on the Company's assumptions, estimates, outlook, and other judgments made in light of information available at the time of preparation of such statements and involve both known and unknown risks and uncertainties. Accordingly, forecasts, plans, goals, and other statements may not be realized as described, and actual financial results, success/failure or progress of development, and other projections may differ materially from those presented herein. Information concerning pharmaceuticals and medical devices (including compounds under development) contained herein is not intended as advertising or as medical advice.

Myovant Sciences Ltd. ("Myovant") is listed on the New York Stock Exchange, and the Group beneficially owns approximately 52% of the outstanding shares of Myovant. ORGOVYX® (relugolix), MYFEMBREE®/RYEQO® (relugolix combination tablet) are owned by Myovant. This material contains information about Myovant, which is based on information disclosed by Myovant. For more information on Myovant, please visit https://www.myovant.com.

Additional Information and Where to Find It

This material may be deemed to be solicitation material in respect of the proposed acquisition of Myovant by Sumitovant and Sumitomo Pharma. In connection with the proposed acquisition, Sumitovant, Sumitomo Pharma and Myovant have filed relevant materials with the SEC, including amended Schedule 13D filings and a transaction statement on Schedule 13E-3 with respect to Sumitovant and Sumitomo Pharma and a proxy statement on Schedule 14A with respect to Myovant. The definitive proxy statement and Schedule 13E-3 transaction statement have been sent to Myovant's shareholders and contain important information about the proposed transaction and related matters. SHAREHOLDERS OF MYOVANT ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING SUMITOVANT'S AND SUMITOMO PHARMA'S TRANSACTION STATEMENT ON SCHEDULE 13E-3 AND ANY AMENDMENTS OR SUPPLEMENTS THERETO, MYOVANT'S DEFINITIVE PROXY STATEMENT, AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED

TRANSACTION. Investors and security holders can obtain the documents free of charge at the SEC's web site, http://www.sec.gov, and Myovant shareholders can obtain free copies of the proxy statement and Schedule 13E-3 through the Investor Relations page of Myovant's website, https://www.myovant.com.

Participants in the Solicitation

Sumitomo Pharma and its directors and executive officers, and Myovant and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the holders of Myovant common stock in respect of the proposed transaction. Information about the directors and executive officers of Sumitomo Pharma is set forth in the Schedule 13E-3 transaction statement, which was filed with the SEC on January 23, 2023, and information about the directors and executive officers of Myovant is set forth in the definitive proxy statement, which was filed with the SEC on January 23, 2023. Investors may obtain additional information regarding the interest of such participants by reading the proxy statement regarding the acquisition when it becomes available.

© Sumitomo Pharma Co., Ltd. All Rights Reserved.

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Financial Results for Q3 FY2022

© Sumitomo Pharma Co., Ltd. All Rights Reserved.

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Financial Results for Q3 FY2022

Financial Results for Q3 FY2022 (Core Basis)

Billions of yen

Revised full-year forecasts (See P.11)

	Q3YTD	Q3YTD			Change
	FY2021	FY2022
		Value	FX impact	%
	Results	Results
Revenue	432.1	460.3		28.2	56.0	6.5
Cost of sales	117.8	139.7	21.9	17.6	18.6
Gross profit	314.2	320.5	6.3	38.4	2.0
SG&A expenses	188.6	227.5	38.9	31.9	20.6
R&D expenses	67.8	74.9	7.1	9.8	10.4
Other operating income/expenses	1.1	※ 24.8	23.6	4.6	－
Core operating profit	59.0	42.9	(16.0)	1.3	(27.2)
Changes in fair value of contingent	(0.2)	1.2	1.5
consideration (negative number indicates loss)
Other non-recurring items	(0.5)	(61.9)	(61.4)
(negative number indicates loss)
Operating profit	58.2	(17.8)	(76.0)		－
Finance income/costs	7.4	20.0	12.6
Profit before taxes	65.6	2.2	(63.4)		(96.7)
Income tax expenses	30.4	34.8	4.4
Net profit	35.2	(32.6)	(67.8)		－
Net profit attributable to owners	46.4	(18.5)	(64.9)		－
of the parent

FY2022

Oct.31	%
forecasts

1. 76.2

1. 76.8

1. 76.0

312.0

72.9

1. 74.9

1. 112.5

1. 134.1

1.0
(63.0)
(30.0)	－
(15.0)	－

(Ref.) Earnings related to Sumitovant

Billions of yen

	Q3	Q3
	FY21	FY22
Revenue	25.1	67.0
SG&A expenses ＊	65.3	97.3
R&D expenses	17.5	22.9
Core operating profit	(62.5)	(59.0)
Operating profit	(62.5)	(59.1)
Net profit	(63.4)	(69.4)
Net profit attributable to	(52.2)	(55.2)
owners of the parent

The figures include intra-group transaction

＊Include amortization of patent rights

• Breakdown of other operating income/ expenses
  ① Sale of Priority Review Voucher
  ② Divestiture of BROVANA® and XOPENEX HFA®
  ③ Divestiture of LUNESTA®

Average rates:

Q3FY2021 Results : 1US$ = ¥111.14, 1RMB = ¥17.26

Q3FY2022 Results : 1US$ = ¥136.51, 1RMB = ¥19.88

FY2022 forecasts : 1US$ = ¥140.00, 1RMB = ¥20.00

Period end rates:

As of the end of March 2022 : 1US$ = ¥122.41, 1RMB = ¥19.26

As of the end of December 2022 : 1US$ = ¥132.71, 1RMB = ¥19.02

© Sumitomo Pharma Co., Ltd. All Rights Reserved.

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Financial Results for Q3 FY2022

Revenue of Major Products in Japan

						Billions of yen
	Q3 YTD	Q3 YTD	Change	FY2022
	FY2021	FY2022
	Value	％	Oct. 31	%
	Results	Results
	forecasts
Equa®/EquMet®	29.4	27.3	(2.2)	(7.3)	34.9	78.1
Trulicity® *	25.8	24.8	(1.0)	(3.7)	23.8	104.2
TRERIEF®	12.9	13.1	0.2	1.5	17.0	77.0
LATUDA®	5.0	7.3	2.2	44.2	9.9	73.2
METGLUCO®	6.3	6.0	(0.3)	(4.8)	7.8	76.8
LONASEN® Tape	1.5	2.2	0.7	45.2	2.7	82.9
TWYMEEG®	0.1	1.3	1.2	－	1.5	84.9
AG products	7.5	7.1	(0.4)	(5.1)	9.7	72.9
Others	28.7	13.2	(15.4)	(53.9)	18.5	71.4
Total	117.2	102.2	(15.0)	(12.8)	125.8	81.2

Note: Sales of each product are shown by invoice price (* Trulicity® is shown by NHI price)

• Sales of Trulicity® terminated at the end of December 2022
• Prescription days limit of TWYMEEG® was lifted in September 2022
• Sale of REPLAGAL® included in "Others" decreased (Q3 YTD FY2021: ¥10.7B)
• NHI price revision affected
  (¥9.5B) the Japan segment total

© Sumitomo Pharma Co., Ltd. All Rights Reserved.

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