#1✔ Money Forward Financial Results for the 2nd Quarter of Fiscal Year Ending November 30, 2021 Money Forward, Inc. July 15, 2021#2Message from CEO Money Forward, Inc. changed its listing of shares to the First Section of the Tokyo Stock Exchange in June 2021. We are truly grateful to all our stakeholders, including our customers, business partners, and shareholders, for their unceasing support. We will keep on aiming toward alleviating financial anxieties and concerns through our services, while harboring our founding aspiration-to invigorate society by encouraging people to take on challenges, and to thereby help create a forward- looking and positive society. We kindly ask for your ongoing support. Yosuke Tsuji Founder and CEO Money Forward, Inc. 1#3Contents Our Business P.3 Financial Performance in FY11/21 Q2 P.10 Money Forward Business P.18 Money Forward Home P.29 Money Forward X P.38 Money Forward Finance P.46 Other Strategic Initiatives / Policy on Growth Investment P.51 Appendix P.58 2#4Our Business Let's Make it!!#5ALL Mission / Vision / Value / Culture 4 Mission Money Forward. Move your life forward. Vision Becoming the financial platform for all. Value User Focus / Technology Driven / Fairness Culture Speed / Pride / Teamwork / Respect / Fun#6ALL Providing Japan's Largest User Base and Product Lineup in SaaS/Fintech Field LO 5 User type Corporate Individual Financial institution Business domain Money Forward Business SaaS Applications for Back Office Operations Money Forward Business SaaS Marketing Platform Money Forward Finance Financial Service Money Forward Home Personal Financial Management Apps Money Forward X Fintech Promotion/ Description ■Provides cloud service for back office operation (accounting/finance and HR); boosts productivity significantly through shift to cloud and automation. ■160,000-plus paying customers, half of which corporate ■Introduced at many accounting firms across Japan; Covers 68% of Japan's top 100 firms*1 ■One of Japan's largest SaaS marketing platforms, operated by Smartcamp ■Provides BtoB deferred payment billing and factoring services Total transaction volume*2 has exceeded ¥30.0 billion. ■Over 12 million users; Japan's No. 1 share*3 ■320,000-plus paying customers ■Connected asset balance of approx. ¥15 trillion *4 ■Through business partnerships, promotes customers' problem solving not limited to improving their personal finance ■Joint service development with 40 financial institutions ■Provides Fintech Platform linking individual/corporate users, financial Key services Money Forward Cloud STREAMED Manageboard V-ONE Cloud BOXIL SaaS) BALES BOXIL EXPO M Money Forward Kessai Money Forward Early Payment Money Forward ME Money Forward X Money Forward Fintech Platform *1 DX Support institutions and fintech companies, using an account-aggregation infrastructure M See page 83 for details. *2 The cumulative amount of receivables that Money Forward Kessai, Inc. has acquired through Money Forward Kessai, BtoB deferred payment settlement service and Money Forward Early Payment, an accounts receivable financing service. *3 See page 87 for details. *4 Total of financial assets in bank accounts connected to services for individuals offered by Money Forward ME and Money Forward X. As of May 31, 2021.#7ALL Expanding Business Field Through New Business Development and M&A Expansion and Growth of Business Field 2012/12 2013/11 2015/11 2017/6 2019/11 BOXIL [SaaS SaaS Marketing Platform <M&A> BALES Financial Services <Organic growth> Fintech Promotion /DX Support <Organic growth> SaaS Applications for Back Office Operations <Organic growth • M&A> BOXIL EXPO Money Forward Kessai Money Forward Early Payment Money Forward X Money Forward Fintech Platform Money Forward Cloud Manageboard STREAMED V-ONE Cloud Personal Financial Management <Organic growth> Present Money Forward ME 6#8ALL Revenue Proportion (Half Year) Money Forward X Fintech Promotion / DX support YOY+43% Money Forward Home Personal Financial Management YOY+27% Money Forward Finance Financial Services YoY+4% 15.9% 12.9% FY11/21 HY Sales Mix (YOY+43%) 54.1% Individual Corporates 5.2% Financial Institutions 12.0% Money Forward Business SaaS Marketing Platform YOY+58% Money Forward Business SaaS Applications for Back Office Operations YOY+51% 7#9ALL Environment Surrounding the Group 8 Revision of Electronic Books Maintenance Act/ Introduction of invoice system Introduction of remote work amid COVID-19 pandemic Government's promotion of digitalization Greater use of open API Review of Payment Services Act Digitalization of salary payment API Y#10ALL Developing Variety of Products Based on Common Core Technologies Users 1 Corporates >> L L... Individuals ........>> <....... IOI Financial Institutions SaaS Applications Money Forward Cloud Money Forward ME Core Technologies Money Forward Fintech Platform 个个个个个个个个个个 Data analysis platform Data security platform Common ID/authentication platform Account aggregation platform 2,600 + connected services Securities Electronic Money EC Credit Card Bank Account 9#11Financial Performance in FY11/21 Q2 N5 T 16#12ALL Highlights in FY11/21 Q2 • • • Consolidated net sales for Q2 increased by 42% YoY to ¥3.99 billion. Net sales trended steadily, achieving 47.4% to 50.6% of full-year forecasts (compared with 46.1% in FY11/20 Q2*1). Excluding Finance domain, consolidated net sales for Q2 increased by 46% YoY. The high growth was driven in particular by net sales of Business domain, which grew 53% YoY. 11 Gross profit grew steadily, up 53% YoY to reach ¥2.84 billion. EBITDA was approx. ¥0.29 billion and continued to be in the black. SaaS ARR*2, the total of the Group's recurring revenue, increased by 40% YoY to ¥9.7 billion. Growth was driven by ARR for corporate customers in Business domain, which grew 50% YoY. • Announced an agreement to establish a joint venture*3 with MUFG Bank, Ltd, and plans to launch online factoring services for SMEs. ● *1 Transferred market listing to the First Section of TSE on June 14, complying with the listing standards for the Prime Market in the new market category*4. Achievement rate of net sales for FY11/20 Q2 to net sales for FY11/20. FY11/20 full-year net sales include R&AC Co., Ltd. net sales booked during the four months after M&A (consolidation). SaaS ARR is 12 times the MRR of Home, Business, and X domains in the last month of each term. See page 13 for the definition of SaaS ARR. Expected to be established around the summer of 2021. *2 *3 *4 Based on the results of the initial determination of compliance with the criteria for listing in the new market category by TSE.#13ALL Q2 Consolidated Net Sales Continued to Grow Strongly, 12 Up 42% YoY Business domain drove growth at 53% YoY. (\mn) Business Home X ☐ Finance 4,000 YOY +42% 3,993 (YoY) 198 -13% 3,500 3,000 Smartcamp Co., Ltd. which provides BOXIL joined the Group R&AC Co.,Ltd. which provides 3,348 V-ONE Cloud joined the Group 2,821 3,467 607 +38% 190 176 357 2,756 453 621 +30% 227 193 2,500 2,216 2,394 441 147 561 244 510 Knowledge Labo, Inc. which provides 2,000 Manageboard joined the Group 1,881 |125 235 456 1,661 93 330 478 451 1,500 Klavis Inc. which provides STREAMED joined the Group 1,469 1,398 74 250 36 263 521 1,091 1,130 1972 378 1,000 693 732 965 173 182 906 403 178 397 370 299 510 304 126 117 311 265 1.559 1,675 1.862 862 2,203 2,357 2,567 +53% 500 65 172 212 1,159 1,235 211 833 853 919 715 272 354 477 401 533 599 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 10 FY11/17 FY11/18 * The total net sales of each domain do not necessarily correspond to the consolidated net sales as "Other" net sales are omitted in the graph. FY11/21 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY11/19 FY11/20 22 Q2#14ALL SaaS ARR*1 Reached ¥9.7 Billion Group SaaS ARR grew 40% YoY. ARR for corporate customers in Business domain grew 50% YoY. YOY +40% 13 (\mn) Home Premium Charges Business Sole Proprietor Business Corporates X Recurring Revenue (YoY) 10,000 R&AC Co.,Ltd. which provides V-ONE Cloud joined the Group 9,702 9,018 +20% 664 8,252 627 8,000 Smartcamp Co., Ltd. which provides BOXIL joined the Group 7,681 587 6,702 6,913 562 6,000 Knowledge Labo, Inc. which provides 5,857 Manageboard joined the Group 6,220 556 472 435 +50% Klavis Inc. which provides STREAMED joined the Group 411 6,342 4,855 5,948 4,572 5,381 4,093 381 3,857 4,914 340 4,000 3,494 4,160 4,237 319 3,162 328 3,594 3.827 2,668 336 2,118 2,331 318 2,708 2,909 300 1,734 2,214 2,383 265 2,000 225 1,949 1,768 1,040 +24% 202 1,395 1,080 1,228 814 818 855 836 836 857 936 871 197 267 294 314 357 425 450 472 514 570 463 547 545 659 718 784 866 920 1,010 995 1,037 1,139 1,215 1,285 1,369 1,428 1,506 1,656 +29% 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 10 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY11/17 FY11/18 FY11/19 FY11/20 Q4 Q1 Q2 | FY11/21 * SaaS ARR is 12 times of the SaaS MRR of the last month of each fiscal year. “Business Sole Proprietor" is revenue from services for sole proprietors in Money Forward Cloud. "Business Corporates" is revenue from services for corporates including Money Forward Cloud, STREAMED, Manageboard, V-ONE Cloud, and Money Forward Certified Membership. In order to adjust for seasonal factors of STREAMED, its MRR is calculated as one-third of the billing revenue of STREAMED in Q1 of each fiscal year. Non-recurring revenue of each business and net sales of Smartcamp are not included. * For the definition of ARR and MRR, see page 70.#15ALL Gross Profit/ EBITDA (Quarterly Trend) Gross profit and gross profit margin both reached record highs. EBITDA excluding advertising expenses and EBITDA reached ¥1.02 billion and ¥0.29 billion, continuing to be in the black. 14 Gross Profit EBITDA (\mn) Gross Profit Gross Profit Margin (\mn) EBITDA EBITDA (excl. advertising expenses) 80% 73% FY11/18 FY11/19 FY11/20 FY11/21 71% 2,800 67% 70% 65% 67% 68% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 65% 65% 1,300 60% 2,400 59% 62% 60% 1,017 910 54%53% 900 2,000 65 59 100 1,600 500 40% 2840 2,543 1,200 2,279 1840 1,831 800 1,668 1335 1220 1,022 400 610 709 672 792 746 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY11/18 FY11/19 FY11/20 FY11/21 506 398 355 1358 290 152 22 22 20% 82 A55 445 A300 118150 A225 234 A147 199 A221 354 A478 A478 460 421 A700 0% 1,100 A921 A923 == EBITDA operating profit/loss + depreciation and amortization + tax expenses included in operating expenses + share-based remuneration expenses * From FY11/20, started capitalizing software for development projects that are expected to generate revenue going forward, owing to continued enhancement of development capabilities.#16ALL Full-time Employees Hiring in Business domain and engineering team is progressing steadily. (# of People) Business Home OX Finance Other Engineer/Designer Corporates Changes from 02/21 1,008 1,000 930 Other Engineer/Designer 100 865 Increase in engineers 98 86 152 800 137 691 47 132 74 51 600 92 47 50 5455 2255 52 56 52 49 52 38 39 394 65 400 55 43 241 604 Money Forward Business Hiring for Money Forward Cloud continued Hiring new graduates 52 539 499 35 23 200 44 383 10 10 177 120 0 11/17 End 11/18 End 11/19 End 11/20 End 02/21 End 05/21 End 15 * Other Engineer/Designer includes CISO Dept., CTO Dept., Account Aggregation Dept., MONEY FORWARD VIETNAM etc. Corporate includes CEO's Office, Corporate Planning Dept., Finance Dept., Administrative Dept., People Forward Dept., Fintech Research Office, etc.#17ALL Breakdown of Expenses (Cost of Sales & SGA) Continued active investments for growth (advertising expenses & personnel expenses) in Business domain. (\mn) Personnel Expenses Subcontract Expenses Comission Fee Rents Other Advertising Expenses 5,200 4,800 4,549 4,400 4,030 4,000 $429 3,600 3,435 3,386 727 3,200 3,026 3,113 2,795 552 819 484 2,800 577 612 2,382 234 167 2,400 2,235 2,191 432 172 276 378 345 177 235 38383 391 骨 567 279 163 173 260 2,000 1,757 Sand 243 608 509 144 179 174 494 487 1,600 1,416 *84 453 169 459 131 431 397 425 121 1,188 371 360 1123 1106 126 1,200 1,029 113 110 113 101 370 125 344 153 291 262 147 235 308 115 800 313 196 103 34 75 109 143 160 979 400 468 534 588 723 844 999 1,133 1,350 465 1,523 1,619 1,699 1,867 0 FY11/18 FY11/18 FY11/18 FY11/18 FY11/19 FY11/19 FY11/19 FY11/19 FY11/20 FY11/20 FY11/20 FY11/20 FY11/21 FY11/21 Q3 4Q Q1 Q2 Q3 Q1 Q2 Q3 4Q Q1 Q2 Q4 Q1 Q2 16 Advertising Expenses Increase due to aggressive investment in Money Forward Cloud, which saw successful customer acquisition. Subcontract Expenses Increased due to increase in net sales of X domain. Personnel Expenses Increased due to the expansion of Business domain and the hiring of new graduates. "Other expenses" include communication expenses, amortization, recruiting/training expenses, depreciation, tax expenses included in operating expenses, professional fee for subsidy implementation projects, etc.#18ALL Balance Sheet Maintains a high level of financial soundness, with cash and deposits of approx. ¥6.8 billion and net assets of over ¥11 billion. Purchased receivables*: 2,998 Goodwill (\mn) Cash and Deposits 6,759 17 Current Assets 9,443 Short-term borrowings *1 3,520 Current portion of long-term borrowings 1,433 Other Current Assets 5,877 Non-current Liabilities 3,356 3,306 Non-current Investment securities 4,460 Software 2,001 *1 Related to Money Forward Kessai, Inc. Assets 11,616 Net Assets 11,452 Assets Liabilities/Net Assets Long-term borrowings 3,206#19Money Forward Business#20Business Highlights in FY11/21 Q2 Net sales for Q2 increased markedly, growing 53% YoY*1. Growth in recurring revenue from sole proprietors and corporates accelerated QoQ. The number of paying customers grew steadily for both corporates and sole proprietors, reaching a total of 166,000*2. In Q2, the net increase was 1.9x YoY for corporates, and 3.1x YoY for sole proprietors.*3 19 The average churn rate for the past 12 months has remained at 1.4%*4. Q2 average was 2.5%*5 due to seasonal factor (tax return season), which is in line with the past trend (2.2% in FY11/20 Q2). The churn rate of corporate customers has maintained low levels. Expanded product lineup for medium-sized companies through releasing receivable billing, fixed assets, and contract modules. Continued to steadily acquire medium-sized companies. *1 Excluding the impact of consolidating R&AC Co., Ltd., Q2 net sales increased by 43% YoY. *2 See page 21 for the definition of paying customers. *3 *4 Net increase in number of customers was 2,516 for corporates and 2,436 for sole proprietors in FY20/11 Q2 (from March to May of 2020), and 4,869 for corporates and 7,467 for sole proprietors in FY21/11 Q2 (from March to May of 2021). The 12-month average up to May 2021. *5 The 3-month average up to May 2021.#21Business Net Sales (Quarterly Trend) Net sales grew significantly, increasing 53% YoY. Corporate recurring revenue*1 grew 49% YoY, driving the significant overall growth. Recurring revenue for sole proprietors also grew significantly. YOY 20 +53% (\mn) Recurring Revenue (Sole Proprietor) Recurring Revenue(Corporates) Net Sales from SmartCamp □ Non-recurring Revenue (YoY) 2,567 2,500 2,357 +216% 235 R&AC Co.,Ltd. which provides V-ONE Cloud joined the Group▾ 2,203 243 +48% 2,000 Smartcamp Co., Ltd. which provides BOXIL joined the Group 464 311 1,862 428 1,675 167 Price plan Changed 1,559 364 74 1,500 Knowledge Labo, Inc. which provides Manageboard joined the Group 62 322 314 1,159 1,235 251 1,000 Klavis Inc. which provides STREAMED joined the Group 96 69 919 833 853 1,609 +49% 1,459 715 63 1,317 599 140 533 74 477 886 937 1,039 1,083 1,170 401 500 354 722 272 60 663 487 536 582 435 206 251 300 341 0 49 63 71 76 82 97 105 110 119 134 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 204 203 206 204 203 212 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 227 259 +27% FY11/17 FY11/18 FY11/19 FY11/20 FY11/21 *1 * Recurring Revenue (Corporates) excluding the impact of acquisition of R&AC is ¥1,538 million, up +42% YoY. Recuring Revenue (Sole Proprietor) is the revenue from services for sole proprietors in Money Forward Cloud. Recuring Revenue (Corporate) is the revenue from services for corporates including Money Forward Cloud, STREAMED, Manageboard, V-ONE Cloud, and Money Forward Certified Membership.#22Business Accelerated Acquisition of Paying Customers *1 21 The YoY net increase in paying customers in Q2 was 1.9x*2 for corporates and 3.1x*2 for sole proprietors, achieving significant acceleration. Paying Customers*1 (# of Paying Customers) Sole Proprietor Corporates 180,000 Q2 QoQ (Q1 QoQ) ARPA*2 (QoQ) Total +8.0% Acquisition of R&AC 166,597 (+8.5%) ▪Sole Proprietor Acquisition of R&AC 77,189 Corporates 80,587 80,598 +0.0% 160,000 154,261 80,000 75,032 71,082 142,214 68,337 69,413 135,178 140,000 70,000 128,569 123,617 +6.6% 117,644 78,682 120,000 (+5.9%) 60,000 73,813 69,713 100,000 $5,498 50,000 61,039 $8,523 42,537 43,864 44,630 44,306 -0.7% 39,488 40,571 39,456 $6,007 40,000 80,000 60,000 30,000 40,000 87,915 80,448 +9.3% (+11.0%) 20,000 61,637 65,094 67,530 69,680 72,501 13,274 13,139 12,378 11,992 11,821 11,640 11,827 +1.6% 10,000 20,000 *1 0 FY11/19 FY11/20 FY11/20 FY11/20 FY11/20 FY11/21 FY11/21 Q4 End Q1 End Q2 End Q3 End Q4 End Q1 End Q2 End 0 FY11/19 FY11/20 FY11/20 FY11/20 FY11/20 FY11/21 FY11/21 Q4 End Q1 End Q2 End Q3 End Q4 End Q1 End Q2 End Number of paying customer (Sole Proprietor) includes those subscribing services for sole proprietors in Money Forward Cloud. Number of paying customer (Corporate) includes corporates, accounting offices and their clients subscribing services for corporates including Money Forward Cloud, STREAMED, Manageboard, V-ONE Cloud, and Money Forward Certified Membership. The above figures do not include Smartcamp. *2 Net increase in number of customers was 2,516 for corporates and 2,436 for sole proprietors in FY20/11 Q2 (from March to May of 2020), and 4,869 for corporates and 7,467 for sole proprietors in FY21/11 Q2 (from March to May of 2021). *3 ARPA is 12 times the MRR of Business domain in the last month of each period (ARR) divided by number of paying customers.#23Business Released Money Forward Cloud Fixed Assets Offers user-friendly design for accounting, tax, and business operations personnel. Streamlined cumbersome operations including fixed asset management, and booking of depreciation and impairment loss. Fixed Asset Management for All Streamlines operations for all who are involved in fixed asset management operations, from those in accounting to general affairs and IT departments, as well as those at sales offices and factories. Headquarters General ☐ Account- affairs IT ing Money Forward Cloud Fixed Assets Factory Sales office 22#24Business Released Money Forward Cloud Receivable Billing In addition to complying with the invoicing legislation and Electronic Books Preservation Act, the service supports split invoices and split journal entry unique to subscription-model businesses. Sales Management Systems, etc. Centrally Controls Receivables Management Based on business negotiation information imported from Salesforce, etc., accurately records sales, flexibly issues invoices, thoroughly manages receivables, and reconciles entries. Thereby comprehensively controls the receivable management process. AR не Invoice Record sales Reconcile entries Money Forward Cloud Receivable Billing V-ONE Cloud Confirm receivable Maney Forward Cloud Accounting Plus 23#25Business More Accurate Cash Reconciliation by Al in V-ONE Cloud 24 With Money Forward Lab, drastically raised efficiency of accounting operations by enhancing an Al function that automatically detects matching statements (patent pending). Dramatically raised efficiency of reconciliation operations by enabling search for matches among over 1,000 statements. Journal Data V-ONE Cloud No. Invoicing date Invoice amount Al simulation A March 31 ¥10,000 B March 31 ¥8,000 C April 30 ¥5,000 D May 31 ¥2,000 E May 31 ¥7,000 Can also take into account rounding errors of fees and consumption tax. Payment Data Payment date Payment amount June 30 ¥20,000#26Business Product Lineup to Address Various Companies 25 Expanding product lineup to target medium-sized / pre-IPO and listed companies, in addition to sole proprietors and SMEs, taking advantage of the strong product development capability. Medium-sized/ Listed companies Sole proprietors For sole proprietors Money Forward Cloud Tax Return SMES For SMEs Money Forward Cloud Accounting pre-IPO companies For Medium-sized / pre-IPO, and listed companies Money Forward Cloud Accounting Plus For every company size Money Forward Cloud Invoice Money Forward Cloud Expense Money Forward Cloud My Number MoneyForward Cloud Payroll Money Forward Cloud Social Insurance Money Forward Cloud Attendance Money Forward Cloud Contract Mainly for accounting office STREAMED Automated Bookkeeping Manageboard Money Forward Cashflow Analysis and Budget Control Money Forward HR Database is to be released in July 2021. Mainly for medium-sized companies Money Forward Cloud HR Database Money Forward Cloud Fixed Asset Money Forward Cloud Payable Management Money Forward Cloud Receivable Billing V-ONE Cloud Cash Reconciliation / Receivable Management#27Business Powerful Product Lineup for Medium-sized / Pre-IPO and 26 Listed Companies Covers the fields of accounting, human resource and legal affairs, and seamlessly integrates data as an ERP. Obtain deposit and withdrawal transactions automatically Online Banking ⚫Credit Card Obtain transaction details automatically Obtain deposit and withdrawal transactions Payment Request automatically Money Forward Cloud Receivable Billing Journal Data Journal Data Money Forward Cloud Payable Management Money Forward Receivable Data Cloud Accounting Plus Card Control V-ONE Cloud Cash Reconciliation / Reconciliation Data Journal Data Money Forward Cloud Expense Management Receivable Management Manageboard Cashflow Analysis and Budget Control Financial Data Journal Data Journal Data Money Forward Cloud Fixed Assets Expense Data Aggregation Corporate Card Money Forward Payroll and other HR Cloud Social Insurance data Money Forward Cloud Payroll Attendance Data Money Forward Cloud Attendance Contract data Accounting Employee Data Security/Internal Control (SSO authentication) Employee Data HR Money Forward Employee Data Money Forward Cloud HR Database Cloud Contract Legal * Money Forward Cloud HR Database is to be released in July 2021.#28ビザスク ✓ Al inside Gojo & Company, Inc. LayerX funds Business Our Customers (1/2) Money Forward Cloud Accounting Plus users increased steadily. Corporates using Money Forward Cloud Accounting Plus (Example) Hospik 日本ホスピスホールディングス株式会社 Lospice Schoo 17LIVE 27 カラダノート zeals 人とのコンサルティング SOMPO LIGHT VORTEX Legaseed STransa RECEPTIONIST SORACOM >TENTIAL Technologies Hybrid ☑E Japan Marketing Applications Balus Digital ECICUBE. Design 三好商会 Ricecurry Sow ユビー Ai Robotics Direct Sourcing Cxperience → F-CODE Chat Plus* Grill FINC Technologies zig-zag 47779SCHEF STADIUM LPIXEL JMA ReboANA St あなたのからだ。 .m TRUST WITH FRUST WITH EVERTINE CITY#29Business Our Customers (2/2) Expanding the client base that includes listed companies, medium-sized companies, and companies preparing for IPO. Corporates using cloud payroll, attendance, expense, social insurance, V-ONE Cloud etc. (Example) Listed Company EON CASIO TSE 1st/2nd ¿ LIVESENSE LIKE WANTEDLY Chatwork FR 大丸松坂屋百貨店 giftee* JTR GROUP JAFCO WingArc 1ST TSE Mothers Sun* ff feedforce ビザスク Crowd Works JAL JAPAN AIRLINEN NEOJAPAN UZABASE SPACEMARKET 弁護士ドットコム Makuake Retty PASONA M丸紅新電力 CADDI HR Solution MARUBENI POWER RETAIL Kellogg's clean Medium-sized, Pre-IPO Adacotech Astroscale PR Table KISS PARIS GRULP planet SAMURAI INCUBATE ☑ KURASHICOM Synspective COCON Timee 株式会社トライグループ RevComm MiddleField elmone CAMPFIRE TORETA ○お金のデザイン NEXWAY hachidori TIS INTEC Group 28#30Money Forward Home#31Home Net Sales from Premium Charges Grew by 29% YoY. Number of paying customers increased steadily, exceeding 320,000*1. 450 400 350 300 250 (mn) Net Sales from Premium Charges Number of Paying Customers Introduced Annual Plan 30 YOY +29% (Thousand users) 350 300 250 200 200 426 150 332 345 364 379 150 100 199 213 226 244 263 274 287 304 100 50 110 128 139 174 158 50 50 0 Q1 Q2 Q3 Q4 ठ FY11/17 *1 As of May 31, 2021. Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 g FY11/18 FY11/19 10 Q1 Q2 Q3 FY11/20 10 Q4 Q1 Q2 FY11/21 0#32Home Net Sales from Media/Advertising Net sales grew 28% YoY. New services, including Money Forward Money Consultation, contributed to the revenue increase. (\mn) 250 200 Money EXPO 2018 Money EXPO 2017 150 100 50 83 62 73 62 153 92 105 92 98 86 172 Money EXPO 2019 235 140 147 146 126 103 Money Forward Week YOY +28% 181 187 146 1=1 111 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY11/17 FY11/18 FY11/19 FY11/20 FY11/21 * Net sales from media/advertising include: 1) advertising sales from MONEY PLUS - lifestyle and finance online magazine, 2) sales from events (Money Expo) and seminars, and 3) sales from other PFM services including Money Forward Money Consultation. 31#33Home Released PFM App Partnering with Sanrio Expanding customer reach through offering fun household accounting experiences. 32 かんたん家計簿 with サンリオキャラクターズ ¥20,921 17354 10 1700 ¥20,921 '21 SANRIO CO., LTD. APPR. NO. S612031#34Home Partnered with TSUKURUBA in Real Estate Field Using know-how and customer base of both companies, plans to launch support for home relocations through asset management in 2022, targeting residential real estate owners. Supports changes in customers' lifestyle through offering asset management solutions for real estate owners Money Forward PFM service Money Forward ME Over 12 million users ✓ TSUKURUBA Distribution platform for existing and refurbished homes cowcamo Over 270,000 registered users*1 *1 As of June 30, 2021. О バイデイ TUE THE ピックアップ Elua デイドリーム 33#35Home Capital and Business Alliance with SUSTEN 34 Targeting Money Forward ME customers whose current connected asset balance is approx. ¥15 trillion *1, promoted joint development of a new function that uses data to propose ideal asset management. Money Forward Aggregated personal finance and asset data SUSTEN SUSTEN's proprietary asset management model Age Annual income Monthly balance Savings Total assets Asset portfoli 信頼の www タイプ ・タイプ 949 FRAN タイプ ヘッジ ファンド 942 バランス 947 タイプ モダニスト タイプ タイプ *1 Total of financial assets in bank accounts connected to services for individuals offered by Money Forward ME and Money Forward X. As of May 31, 2021.#36Home Released Insurance Policy Review Function Using Money Forward ME data, proposes suitable insurance by analyzing individuals' assets and financial conditions. 1分で 診斷結果 診断 今の保険は 不要かも? Money Forward 固定費の見直し Assessment of 保険の見直しで 年間 current insurance policy Reduce fixed costs by only purchasing necessary insurance -106,480 円 となる可能性があります 現在の保険料 改善後の保険料 216,480円/年 110,000円/年 % あなたに必要な保険 死亡 医療/がん 就業不能 必要 不要 不要 35#37Home Enhance Value Proposition by Encouraging Action to 36 Resolve Issues Enhance value proposition Visualize Get knowledge Learn about finance Money Forward ME Automated PFM Service 「MoneyForward おかねせんせい Bola (Money Forward Sensei) Advising tool on saving and asset management based on the data of Money Forward ME Money Forward お金の相談 (Money Forward Financial Planning) Platform for connecting Money Forward ME user with financial planners M MONEY PLUS くらしのメ Practical Economic Media Take action to change See next page#38Home Collaborate with Partners to Solve Users' Issues TAM has expanded to over ¥800 billion*¹ due to the expansion of service areas. TSUKURUBA Operates cowcamo, a distribution platform for existing and refurbished homes, with over 270,000 registered users LiFener Japan's first online provider of life insurance, with over 400,000 contracts Real Estate ¥80 billion Insurance ¥200 billion P 株式会社FPパートナー Pe PARTNER Free consultation provided by over 1,200 registered FPS Connects to Money Forward Financial Planning FP Consultation ¥70 billion Asset Management ¥150 billion User Tax Return Electricity ¥100 billion ¥70 billion SUSTEN Provides Japan's first fully pay- for-performance automated asset management service SUSTEN. Money Forward Cloud Tax Return Enables tax return via smartphone app Seamless data integration with Money Forward ME 未来を創る 共に生きる SymЄnergy Through the collaboration, users can subscribe for electricity 3% cheaper than the standard prices offered by incumbent utility companies. *1 Including TAM of PFM services (¥200 billion). TAM of tax return service is not included as it's included in that of Business domain. 37#39Money Forward X Forum M 全社 169#40X Net Sales from Money Forward X Net sales increased 38% YoY. Both recurring and non-recurring revenue reached record highs. (\mn) IRecurring Revenue Non-Recurring Revenue 600 500 453 441 YOY +38% (YoY) 607 400 330 357 444 +41% 300 263 250 300 235 316 244 202 197 173 178 223 200 105 126 117 125 170 150 123 102 100 65 95 103 94 44 97 118 42 71 54 23 49 55 64 71 79 19 84 82 82 79 84 93 99 107 112 125 139 153 155 163 +31% 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY11/17 FY11/18 FY11/19 FY11/20 FY11/21 * Non-recurring revenue from initial development are recorded at the time of acceptance by clients, and not necessarily at the time of service launch. 39#41X Asset Management Function for Minna no Ginko App 40 Developed a "record function" that centrally manages balance and assets by providing an account aggregation function. Record すべての ¥1,540,000 OABH ¥720,000 WALD HANS クレジットカード ¥280,000 閉じる #家族 收支 + \123,000 收入 ¥342,400 支出 ¥219,400 V1,260 2021.66 っ子へのゲームソフト △△モール 2021.6.1 BREA すべての明細 | 双定 + ¥42,800 2021.10.1.10.20 コーヒー 2021.10.20 クライアントMTG V560 © ATMA V50,000 V32,400 2021.10.15 夜い技かり分チーム 1. Centrally manages assets and deposit/withdrawal logs of other banks (record function) Using an account aggregation technology, integrates data of other banks, credit cards, and electronic money within Minna no Ginko Smartphone App, enabling centralized management of assets and deposit/withdrawal logs. 2. Enables Effortless Money Management Using Graphs and Hashtags Enables effortless money management by applying hashtags (#) for categorization, and graphically displaying account statements that are integrated using the account aggregation technology.#42X Released PFM Service Partnering with NTT DOCOMO Co-developed a PFM app linked to various NTT DOCOMO services using our account aggregation platform. 41 スマート家計簿 9:41 ●スマー簿 döcomo X Money Forward Easily manage your finance by app! Extensive support for your household. 資產總額 スマー с ¥3,785,000 > 前日比 ¥470支 今月の収支 2021418-2021 R4R30 收入 ¥342,500 支出 ¥251,500 * Released on July 13, 2021, by NTT DOCOMO. ●食賣 ¥69,690 ● 住宅 ¥48,000 ●軟,教育 ¥46,300#43X Partnership with Financial Institutions, etc. (B2C) Money Forward for X Developing customized PFM service for financial institutions' customers. Customers SBI Sumishin Net Bank / Yamaguchi FG / Shizuoka Bank / Toho Bank / Gunma Bank / Shiga Bank / Okazaki Shinkin Bank / Tsukuba Bank/Sompo Japan Nipponkoa Himawari Life Insurance/ Tochigi Bank / Mizuho Bank / Toyo Bank / JA Bank/ Tokushima Taisho Bank/ Aflac Life Insurance Passbook Apps Developing passbook apps for financial institutions' clients. Customers Gunma Bank / Tochigi Bank/Taiko Bank / Tsukuba bank / Michinoku Bank /Hokuriku Bank/Kyoto Shinkin Bank/JA Bank/ Shiga Bank Labour Bank/ Saikyo Bank /Tokushima Taisho Bank Asset Monitoring Unit PFM Unit Offering PFM tools within financial institutions' apps. Customers 42 JAL card/Taiko Bank / Sendai Bank / Kyoto Shinkin Bank /Hokuriku Bank / Awa Bank Akita Bank / Mitsubishi UFJ Morgan Stanley Securities/Michinoku Bank / Hokkoku Bank / Minna no Ginko (New!) 9:41 9:41 ホーム お知らせ do MY通知 入出金 ○○銀行 資產總額 ¥4,762,987 前日比 ¥339,873 今月の家計簿 11月1日~11月31日 收入 ¥339,873 支出 ¥270,601 收完 \69,272 ビューカード 次回引落しが確定しました。 普通預金 ¥3,778,303 (讲表示 04/27 12:00 油番号 an 123 1234567 インターネット支店 金前太郎 9:41 Money Forward 入出金 家計簿 資產一路 收入 支出 ¥235,630 ¥-173,301 收支 ○○銀行 ¥62,329 現金カード \-64,521 AEMET2587457 住宅 \-47,200 2019/04/27 \-75,000 Ⓗ 振込手数料 特別な支出 \-46,380#44X Partnership with Financial Institutions, etc. (B2C) 43 レンディングマネージャー Jointly developed an advising function of the app for customers registered for loan service [スマート ●スマー簿 döcomo New! Co-developed a PFM app linked to various NTT DOCOMO services döcomo おかねのコンパス・TT Providing asset management function of the app that has such functions as investment service, insurance and pensions マネーコンパス・ジャパン OneStock au PAY "Money Management" Jointly developed a function for managing accounts information in the au PAY app SAFETY KDDI Enables monthly calculation of estimated fund shortage by grasping deposit balances, withdrawals/deposits, debiting of card use Chiba Bank My Post 伊予銀行 Participating in the development of "Chiba Bank My Post," a service that allows users to check information such as mortgage loan repayment plans on the web ちばぎん Passbook app Asset management app that supports users' future asset formation through visualization of asset lives, centralized asset management and asset diagnosis functions. NOMURA (for banks participating in TSUBASA Alliance) Jointly developed passbook apps exclusively for the TSUBASA shared core banking system. Provided to Chiba Bank, North Pacific Bank, Daishi Hokuetsu Bank, Chugoku Bank, and Toho Bank. Shizugin WebWallet app Helped design UI and UX of the official app of the bank's online branch, making it closely address customer needs. Minna no Ginko New! Offering the account aggregation function to their official app. Support UI/UX design to meet customer needs. |静岡銀行 SHIZUOKA BANK Minna no Ginko#45X Partnership with Financial Institutions, etc. (B2B) Corporate portal Membership portal site for corporate and sole-proprietor customers; jointly developed with NTT DATA Advantages for financial institutions introducing it: . Centralized management of information on deposits and withdrawals/deposits in multiple accounts • Ability to conduct wide-ranging transactions, including the review of electronic documents • • • Creates customer contact points online Clients: Bank of Yokohama, Hokuriku Bank, and Nishi-Nippon City Bank BFM (Business Financial Management) Service for corporate customers of financial institutions Advantages for financial institutions introducing it: • Centralized management of information on deposits and withdrawals/deposits in multiple accounts Automatically updates account balances and statements Enables download of statements in CSV format Clients: Okazaki Shinkin Bank, Kyoto Shinkin Bank (New!) 44#46X Partnership with Financial Institutions, etc. (B2B) Money Forward Fintech Platform Platform that can accumulate and analyze asset data and settlement data for corporate financial services and link them to third party. Enables the rapid provision of services that meet customer needs. Client: Bank of Yokohama Linked services (2,600+*1) Banks Securities Credit cards E-money DC Points EC Money Forward Fintech Platform Linked partner service Data analysis platform (X Insight Marketing) Database (X Cloud Storage) ID/Authentication platform Account aggregation platform (X Business Aggregation) Yokohama Bank "<Hamagin> Business Connect" free membership portal site །”་། *1 As of June 30, 2021. See P87 for details. 45#47Money Forward Finance#48Finance Net Sales from Money Forward Finance Sales decreased YoY when there were OEM development projects. Continuing to tighten credit control. (\mn) 250 YOY -13% 47 200 150 100 147 125 50 93 74 48 2 3 7 36 17 0 Q4 10 Q1 Q2 Q3 Q4 ठ FY11/17 FY11/18 Q1 Q2 Q3 Q4 FY11/19 24 227 193 190 198 176 Q1 Q2 Q3 Q4 Q1 Q2 FY11/20 FY11/21#49Finance Joint Venture with MUFG to Support SME Cash Flow* Plans to launch online factoring and invoicing BPO services for SMEs in the spring of 2022. MUFG EUFJIRÍT Х Money Forward Money Forward Kessai - Provide financial know-how leveraging society's trust and reliability toward the group, and the group's comprehensive strength - Provide customer referral - Provide know-how on development of credit screening models, etc. - Promote services to its SME customers * The joint venture is scheduled to be established around the summer of 2021. Shareholders will be Money Forward, Inc. (51%) and MUFG Bank, Ltd. (49%). 48#50Finance OEM-based Money Forward Kessai to Hiroshima Bank 49 Provided invoicing BPO and settlement services to customers of the Hiroshima Bank, and thereby expanded our customer base. ひろぎん Bill powered by Money Forward Kessai BEITH ひろさん Bill DA サンプル株式会社 S 532 18-1429 MLATED + 支帐方法: Милен Ат 邦次請求金额 HEATLER 353.000 サンプル株式会社#5150 Finance New Plan for Invoicing BPO in Money Forward Kessai Promoted DX in invoicing among more companies by offering a low-cost plan that does not require credit screening or ensured deposits. New Plan dedicated to invoicing BPO Standard Wants to outsource invoicing at a low cost Payment Guarantee Wants to reduce risk of overdue payments Wants to expand customer base with credit sales Initial Fee ¥0 to 50,000 Monthly Feel Commission Fee ¥0 to 30,000 ¥300-500 per transaction ப ¥0 \0 0.5-3.5% of entrusted amount#52Other Strategic Initiatives / Policy on Growth Investment#53ALL Disclosing First Integrated Report In addition to the business overview and growth strategy, the report introduces various initiatives to contribute to the realization of a sustainable society. 52 * Forward Map 2021 ASSERT Value Creation みんながいてきますいける。 これからやるべきこと。 インプット AWR 株式会社マネーフォワード2021 Maney forw Mission 「お金を前へ。 人生をもっと前へ。」 Vision VATRAR, プラットフォーム」になる。」 Value MARI Culture ガバナンス・ コンプライアンス アウトプット アウトカム User Forward Society Forward ユーザー WA LURRANS ROS Talent Forward Teamworkでサービスを前へ。 Home Technology > Design Japanese version will be available on our website today (July 15). English version will also be available soon.#54ALL Strengthening Efforts in Fast-growing Overseas Markets 53 Made an additional investment as lead investor in series D round of Indonesia's Mekari Group*1. Corporate Profile*2 Services Group Name Mekari CEO Suwandi Soh Founder and CEO No. of Employees 500 plus A jurnal by mekari Accounting > talenta by mekarl Human resource Accumulated USD27.2 million Investment Amount Our Ownership 28.9% Ratio →- mekari Our Voting Rights Ratio flex Welfare benefits 14.2% Other Our CEO Tsuji concurrently serves as Director mekari Communications chat *1 Mekari is the brand name of the group. Money Forward, Inc. holds shares of Sleekr Pte Ltd., which is registered in Singapore. *2 As of May 30, 2021. klikpajak by mekari Tax filing Qqontak CRM#55ALL Policy for Growth Investment and Profitability Investment Policy for Future Growth 54 • • Focus on maximizing medium-to-long term cash flow based on the subscription business model. Continue to make upfront investments mainly in Business domain (SaaS business). Investment for future growth to be executed as long as unit economics metrics are reasonable and sound, with an eye on external environment as well as competitions. Policy for M&A Selectively pursue strategically meaningful M&A opportunities with emphasis on financial discipline. Continue to strengthen partnership with our existing investment partner, Mekari Group which is a leading company in the cloud accounting and HR market for SMBs in Indonesia.#56ALL TAM Continued to Expand, Driven by Expansion of Business Areas and Services*1 55 Continue to develop business in a huge TAM and aim for further growth. Business 2.4 'trillion*2 0.5 trillion* *All footnotes are described on page 56. Home 0.8 trillion 4.3 trillion Finance 0.6trillion*5#57ALL Definition of Total Addressable Market (TAM) *1 *2 Total Addressable Market. Potential market size for four domains of Money Forward is estimated, by using certain assumptions, based on third party research, publication as well as Money Forward historical data. Total sum of Back office SaaS TAM and Domestic SaaS marketing TAM. Back office SaaS TAM is calculated based on total annual expenditure when the Group's all potential customers introduced Money Forward Cloud in Japan. The total number of potential customers is the sum of sole proprietors and corporates with less than 1,000 employees. Created by Money Forward based on National Tax Agency 2017 Survey and MIAC June 2016 Economic Census Activity Survey. Domestic SaaS Marketing TAM is estimated based on 24% of the total investment in business systems in the domestic software market in FY 2020 by Fuji Chimera Research Institute, Inc., "2019 New Software Business Market" and the potential market size of back-office SaaS described above. Average advertising costs to net sales ratio of domestic major listed SaaS companies which was calculated by Money Forward based on financial reports and presentation documents of Money Forward, RAKUS, User Local, kaonavi, Chatwork, Sansan, freee, Cybozu, and TeamSpirit. *3 See P88 for details. *4 *5 Calculated for potential market size that is related to service provided by Money Forward X within domestic contract development software market. Data based on Information and Communication Basic Survey in 2020 as well as company historical data and estimates. Calculated by annual required working capital for corporate under revenue of ¥500 million multiplied by ratio of post payment settlement usage as well as annual fee potentially charged by Money Forward Kessai for its service. Working capital receivable + inventory - payable. Data based on Small and Medium Enterprise Agency's report on basic survey on SMEs in FY2019 as well as company estimates. 56#58✔ Money Forward Money Forward. Move your life forward. 57#59Appendix#60About Us USER FOCUS TECHNOLOGY DRNEN FAIRNESS#61ALL Members of Board of Directors (CEO) Yosuke Tsuji Representative Director, President and CEO Yosuke Tsuji worked at Sony Corporation and Monex Securities before establishing Money Forward, Inc. in 2012. He currently serves as an Executive Officer of the Japan Association of New Economy (JANE) and an executive committee member of Silicon Valley Japan Platform. Kyoto University Faculty of Agriculture (BS), Wharton School, University of Pennsylvania (MBA). Awards (including awards to Money Forward) Jan. 2014 Feb. 2014 Mar. 2014 Nov. 2016 Dec. 2016 Feb. 2018 US Embassy's Award at the Entrepreneur Awards Japan (TEAJ) 2014 JVA Chief Judge's Award at the Japan Venture Awards (JVA) 2014 Grand Prize at the Financial Innovation Business Conference (FIBC) 2014 Ranked in Forbes Japan's "Japan's Top 10 Entrepreneurs" for two consecutive years Selected by Nikkei Business magazine as one of "The 100 Most Influential People for Japan 2017" Judges Association's Special Award at the Japan Venture Awards 2018 60#62ALL Internal Directors Management team has in-depth expertise in finance and technology. 61 Naoya Kanesaka Director, Executive Officer and CFO Representative Director of Money Forward Synca, Inc. Representative Director of Money Forward Ventures Partners, Inc. • 2007-2014: Goldman Sachs (Tokyo and San Francisco offices). Engaged in advisory services for cross-border M&As and fund procurement mainly in the technology and financial industries, and in enhancing value of investee companies. ⚫ Joined Money Forward, Inc. in 2014. As CFO, led IPO, domestic and global financing, M&A and alliance. • Appointed as CEO of Money Forward Synca, Inc. in Sept 2019. Takuya Nakade Director, Executive Officer and CTO D&I Head ⚫ Joined Money Forward, Inc. in 2015. Developed financial systems, and was appointed as CTO in 2016 and director in 2018. • 2007-2014: Simplex Inc. Developed stock trading systems catered to securities companies. 2001-2007: Jupiter Shop Channel Co., Ltd. Led CRM system development as IT manager. Masanobu Takeda Director, Executive Officer and COO of Money Forward Business Company . Served as Director at Macromill Group, in charge of corporate planning and led the company's corporate and HR strategic planning, M&As, and new business development, • Served as Director and Head of Corporate Planning at eole Inc. ⚫ Joined Money Forward, Inc. in 2017 by M&A of Klavis Inc., where he served as Director and CFO since 2016.#63ALL External Directors Highly experienced leaders in the Japanese economy are appointed as external directors. 62 Nobuaki Kurumatani External Director Chairman of the Board, First Advisers Inc. Served as Representative Director, Deputy president and Executive Officer of Sumitomo Mitsui Banking Corporation, as well as President of Japan of CVC Capital Partners. Former Director, Representative Executive Officer, President and Chief Executive Officer of Toshiba Corporation. Masaaki Tanaka External Director Vice Chair, Board of Councilors, US-Japan Counsel Former Chairman, President & CEO, Nippon Paint Holdings Co., Ltd. Former Director and Deputy President at Mitsubishi UFJ Financial Group. Appointed as Executive Chairman of the Board of Nippon Paint Holdings Co., Ltd. in March 2019. Serving as Vice Chair of the Board of Councilors of US- Japan Counsel from 2013. Etsuko Okajima External Director CEO, ProNova Inc. Founded ProNova Inc in 2007, and currently serves as CEO of the company. Worked at Mitsubishi Corporation, McKinsey & Company, and Globis Group, where she served as President of Globis Managment Bank Inc. Holds an MBA from Harvard University. Ryoko Ueda External Director Associate Professor, SBI Graduate School After joining Mizuho Securities Co., Ltd., was seconded to Japan Investor Relations and Investor Support, Inc. (J-IRIS). Served as Special Research Fellow of Financial Research Center, Financial Services Agency (FSA), worked at Mizuho International plc (London), and was then appointed Senior Researcher at J-IRIS. Holds current position since March 2020. Holds a PhD in policy research. Akira Kurabayashi External Director Managing Director & Head of Japan, DNX Ventures Joined DNX Ventures (former Draper Nexus Venture Partners) in 2015 where he currently serves as Managing Director. Engaged in venture capital businesses targeting Japan and the U.S. at Fujitsu Limited and Mitsui & Co., Ltd. Oversaw investments in Japan at Globespan Capital Partners and Salesforce Ventures.#64ALL Executive Officers Management members who have key roles in the growing group. Toshio Taki Executive Officer, Sustainability Head COPA (Chief of Public Affairs) Head of Money Forward Fintech Institute • Appointed as director of Money Forward, Inc. in 2012. • Member of FSA panel of experts on FinTech start-ups. • 2004-2012: Nomura Securities Co., Ltd./Nomura Institute of Capital Markets Research. Engaged in research on household behaviour, the pension system, and financial institution business models etc. ⚫ Graduated Keio University (Faculty of Economics) in 2004 and Stanford University (MBA) in 2011. Takashi Ichikawa Executive Officer and CISO ⚫ Joined Money Forward, Inc. in 2012. Appointed as director in 2017. • 2011-2012: Major financial systems development company. Led the infrastructure division and launched a new FX transactions site. • 2000-2011: Monex Group, Inc. Developed and operated securities trading systems and engaged in project management for subsidiary mergers, etc. Tatsuya Kanto Executive Officer and CSO, Money Forward Home Company CSO Representative Director and CEO. Klavis, Inc. • Worked in a software development company and was involved in project management and launched overseas bases. ⚫ Joined Macromill, Inc, in 2006 and engaged in M&A and foundation of JV. ⚫ Founded Klavis, Inc in 2012 and serves as Representative Director and CEO. ⚫ Joined Money Forward group in 2017 by M&A. Hirokazu Ban Executive Officer and CLCO(Chief Legal and Compliance Officer) • Joined Money Forward, Inc. in 2016. Appointed as director in 2018. 63 2009-2015: SBI Securities Co., Ltd. Served in the Legal and Corporate Planning Departments. Launched SBI Money Plaza Co., Ltd. in 2012 and became director. Graduated Waseda University (Sociology) in 2001. After graduating Aoyama Gakuin University Law School, registered as an attorney in 2008. Daisuke Sergio Ito Executive Officer and CDO Head of Design Strategy Office . Joined FreeBit Co., Ltd. in 2003 and engaged in PR, corporate branding and business strategy in CEO Office. Moved to the US to learn art in 2006 and became a freelance designer and came back to Japan in 2010. ⚫ Has been representing AN INC. ⚫ Appointed as CDO in 2020.#65ALL Other Key Management Members (1/2) Management members who have key roles in the growing group. Kazuya Yamada Executive Officer, Money Forward Business Company CSO ⚫ Passed Japanese CPA examination and joined Deloitte Touche Tohmatsu LLC, in 2016. • Served as Executive Officer and CFO in a startup. ⚫ Joined Money Forward, Inc. in 2014 and served as Head of CEO office, Head of MF Cloud development before being appointed as Money Forward Business Company CSO. Naoki Kuroda Executive Officer, Fukuoka Office Head ⚫ Joined Monex, Inc. in 2008, • From 2012, developed bulletin board system and other web services and offered marketing consulting. ⚫ Joined Money Forward, Inc. in 2013 soon after its foundation. After engaged in the development of Money Forward ME and Money Forward Cloud series, serves as PO of Money Forward Cloud Expense. Junichi Kanda Executive Officer, External Relation Head Money Forward X Company COO ⚫ Joined the Bank of Japan in 1994. ⚫MA on Yale University. ⚫ Temporally transferred to Financial Services Agency from 2015 to 2017 and was involved in investigation and policy planning related to Japan's payment structure and Fintech. ⚫ Joined Money Forward, Inc. in 2017. Kiminobu Tahira 64 Executive Officer, Money Forward Business Company Head of Sole-proprietor Department • Involved in business development of systems for the distribution industry at NEC Corporation. • At Rakuten, Inc., experienced setting up marketing division of Rakuten Ichiba, constructing reward program and facilitated business alliance. ⚫. Joined Money Forward, Inc. as Head of marketing department after leading retail marketing at Monex, Inc. Daisuke Motokawa Executive Officer, Alliance Strategy Head, Money Forward X Company CSO ⚫ Joined NTT DOCOMO, INC. in 2003 and engaged in solution sales for large corporations. ⚫ Transferred to FeliCa Networks, Inc. and in charge of business planning of mobile wallet and newly set up big data business. Returned to NTT DOCOMO, INC. and experienced NFC/Fintech. ⚫ Joined Money Forward, Inc. in 2016. Ryo Shibuya Executive Officer and Money Forward Business Company VPOE ⚫ Joined Adways Inc. in 2007 and was in charge of developing advertising system. ⚫ Joined GREE, Inc. and experienced the development of advertising system and new business. ⚫ Joined Money Forward, Inc. in 2014 and was involved in development of invoice and accounting / tax return modules. Experienced the launch of payroll and MyNumber modules. Currently serves as VPOE and Head of Development of B2B services.#66ALL Other Key Management Members (2/2) Management members who have key roles in the growing group. Satoshi Furuhashi Executive Officer. Money Forward, Inc. Representative Director and Chairman, SMARTCAMP Co., Ltd. Representative Director of Money Forward Venture Partners, Inc. ⚫ Engaged in institutional sales at Mizuho Bank, Ltd. Experienced business development and customer acquisition at Speee, Inc. ⚫ Founded Smartcamp Co.,Ltd, which offers several services including BOXIL and was appointed as Representative Director. ⚫ Joined Money Forward group by M&A in 2019. . Engaged in the foundation of HIRAC FUND and was appointed as Representative Partner. Seiko Harada Executive Officer, Cross-functional Business Head Representative Director and CEO, ADXL, Inc. . After graduating from university, engaged in marketing and PR in an entertainment industry. ⚫Joined GREE, Inc. in 2011 as PR. After engaged in setting up an industry group, was transferred to business development and creative department of social game. After 2016, engaged in setting up social media marketing business. ⚫ Joined Money Forward, Inc. in 2018. Youkou Takano CIO ⚫ Joined Yahoo Japan Corporation in 2006 and engaged in development and maintenance of internal systems and infrastructures. • Led engineering team and executed cyberattack countermeasures and information system strategy. ⚫ Joined Money Forward, Inc in 2019. Naomichi Tomiyama Executive Officer. Money Forward, Inc. 65 Representative Director, Money Forward Kessai, Inc. ⚫ Joined KPMG AZUSA LLC and engaged in financial and internal control audit. Involved in many voluntary and legal liquidation projects in a consulting company. ⚫ Joined Money Forward, Inc. in 2014 and was involved in strategy planning and new business development. Appointed as Representative Director in Money Forward Kessai, Inc. in 2017. Hidetsugu Kunimi Representative Director, Knowledge Labo, Inc. After engaged in financial audit and consulting at Deloitte Touche Tohmatsu LLC, experienced many M&As and turnarounds at Deloitte Touche Tohmatsu Financial Advisory LLC. ⚫ Founded Knowledge Labo, Inc. in 2013 and serves as Representative Director. ⚫ Joined Money Forward group in 2018 by M&A. Shun Matsuoka Executive Officer and Accounting Department Manager ⚫ Joined Sony Corporation in 1998 and engaged in accounting and tax operations, including projects for early closing of accounts and adoption of new system and new accounting standards. • Passed Small and Medium Business Consultant, Certified Public Tax Accountant, and Certified Public Accountant examinations while in Sony. Registered as a CPA in 2020. ⚫ Joined Money Forward, Inc. in April 2019 as Co-Accounting Department Manager.#67ALL Money Forward Group Structure Ownership Main Services Money Forward, Inc. PFM service and Money Forward Cloud service Klavis, Inc. 100% Automated bookkeeping service: STREAMED Money Forward Kessai, Inc. 100% BPO and factoring service: Money Forward Kessai Money Forward Fine, Inc. 100% Online Lending Service Knowledge Labo, Inc. 51% Manageboard and consulting service MONEY FORWARD VIETNAM CO., LTD. 100% Product development center Money Forward Synca, Inc. Financial advisory service and 100% management consulting for growing companies SMARTCAMP Co., Ltd. 100% SaaS Marketing platform BOXIL and supporting Inside Sales by BALES and BALES CLOUD ADXL, Inc. 100% Digital marketing support for SaaS companies R&AC Co.,Ltd. 100% Specialized in cash reconciliation and receivable management: V-ONE Cloud Money Forward Venture Partners, Inc. 100% HIRAC FUND, the entrepreneurs' fund that supports seed-stage and early-stage startups * As of July 15, 2021. 66#68ALL (\) 8,000 7,000 Share Price and Trading Volume since IPO (Adjusted Stock Split*1) Share Price (LHS) Trading Volume (RHS) 6,000 5,000 IPO Offering Price ¥1,550 (Considering of Stock Split, the price was ¥775) 4,000 3,000 2,000 1,000 July 13th 2021 Close ¥7,120 67 ('000 Shares) 0 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 As of July 13, 2021. *1 Conducted a 2-for-1 split for each common share held by shareholders written or recorded in the closing shareholder registry on the record date, November 30, 2020.#69ALL Disciplined Investment Execution • • Product Development / New Business Investments Basic policy is to start with minimal investment to achieve product market fit, followed by the decision to invest further. Constant launch of add-ons and new businesses contribute to ARPA increase, customer base expansion and product competitiveness. M&A is also considered as an effective means of entering new business, adding functions and/or customers. Investment in Sales, Marketing and Customer Success Investment in sales, marketing and customer success to be accelerated as long as unit economics metrics are reasonable and sound. Investment decisions to be made based on the unit economics metrics described in next page. Continuous Review and Revision of Product/Business Businesses are assessed by growth, market opportunities/competition and profitability every quarter to make appropriate decisions such as withdrawal. 68#70ALL Unit Economics-Driven Investment Unit economics per product and per customer channel are taken into account when making investment decisions, metrics which are commonly used by global SaaS companies. Average Revenue per Account (ARPA) Marginal Costs per Paying User Expenses required to retain existing paying users MRR Churn Rate We have negative churn as the MRR gained from up- or cross-selling is more than the MRR lost due to cancellation - X% (Negative Churn) Customer Acquisition Cost (CAC) * For illustrative purpose only and not to size. Cumulative Earnings Payback Period (month) Period required for recovering the cost of acquiring each new customer 69#71ALL Definition of KPIs Monthly Recurring Revenue MRR Total recurring revenue as of the end of a particular month Annual Recurring Revenue ARR Calculated by multiplying the MRR as of the end of a particular period by 12 70 SaaS ARR Customer ARPA Customer Churn Rate MRR Churn Rate Calculated by multiplying SaaS MRR of a particular period by 12. SaaS MRR includes: 1) net sales from premium charges in Home domain, 2) recurring revenue from sales of Money Forward Cloud and other cloud services such as STREAMED, Manageboard, V-ONE Cloud, and Money Forward Certified Membership, 3) recurring revenue in X domain. In order to adjust for seasonal factors of STREAMED in Q1, MRR is calculated as one-third of the billing revenue of STREAMED in Q1 of each fiscal year. Non-recurring revenue of each business and net sales of Smartcamp are not included. Paid subscribers in the Business domain, which is a total of (1) accounting firms and their clients, and (2) sole-proprietors and direct-sales corporates subscribed via the web channel etc. Average Revenue per Account. Calculated by dividing ARR as of the end of a particular period by the number of Customers Average monthly churn rate of a particular period. Calculated as: [number of customers churn during (N) month] / [number of customers as of the end of (N-1) month] Average monthly churn rate based on MRR of a particular period. Calculated as: 1 – [MRR as of the end of (N) month from customers as of the end of (N-1) month / MRR as of the end (N-1) month. Negative amount (Negative Churn) refers to the status when the revenue increase for existing customers by upselling/cross-selling exceeds the revenue decrease due to customer churn.#72ESG Initiatives THE MUSIC 001 00 0#73ALL ESG Initiatives to Achieve a Sustainable Society 72 We have set 3 priority themes to "solve the financial issues of all people and create a society where people can take on challenges." User Forward Provide services that solve financial issues for a diverse range of users (corporates, sole proprietors, and individuals) Solve users' problems with technology and design . Promote investment in security to ensure the safety Society Forward Contribute to DX of society with diverse partners Promoting activities to realize a better social system Practice environmentally friendly management Talent Forward Create diverse growth opportunities to draw out the potential of employees Management's commitment to member development Create an environment that accepts diverse viewpoints regardless of gender, nationality, age, and educational background SDGs Targets AL-RA 「ジェンダー 消しよう 8 いいね 横浜駅長も 9 SEASO 465 10 AVENTIS 12 つぐる青 15 17 パートナーシップで 735 MIRALET Foundations Supporting 3 Key Themes Penetration of Money Forward's Mission/Vision/Value/Culture Governance that Balances Offense and Defense#74ALL ESG / User Forward Helping improve productivity and solve accounting and finance issues of accounting firms and their clients through Money Forward Cloud. Issue before introduction Productivity was low with conventional installing-style software, which required troublesome transfers of data and time-consuming data entry work. Scale of introduction The number of clients that have introduced Money Forward Cloud Accounting roughly tripled over two years. STREAMED, an automated bookkeeping service, was introduced in 2019 to respond to demand for bookkeeping outsourcing service. Impact of introduction 73 "Full-fledged introduction is underway as productivity is improved by using data linkage function Masami Mishima, representative member and accessing the cloud simultaneously." "Demand for BPO has increased recently, and Money Forward Cloud has become essential to expand the BPO business." "Customers who have introduced Money Forward Cloud were able to prepare monthly financial statements without a hitch even amid the COVID-19 pandemic." "Many young customers are considering introducing a cloud accounting service, meaning that there is a strong positive impact for attract young potential customers." Tax Accountants' Corporation CROSSROAD CROSSROAD#75ALL ESG / User Forward Changing personal behaviors and improving financial position through provision of Money Forward ME. Change in behavior and awareness toward money* I'm wasting less money. I've gotten into the habit of studying about money and collecting related information. I have reviewed my fixed costs. 59% 44% (())Q 38% Perceived monthly saving* Average ¥27,848 or about ¥330,000 in annual saving! * Based on a 2020 survey regarding financial awareness conducted on 5,874 Money Forward ME users who said they felt the service helped improve their household accounts. 74#76ALL ESG / Society Forward Contribute to DX of society with diverse partners. Money W 士業 ARLINE サミット 2020 士業の未来は、 日本の未来。 Money Forward 235 この国の 元古薯 働き方を、 本気で 五座談會 変える10億円。 結果 C SAME No. of Certified Members: (Accounting firms and certified social insurance and labor consultant offices) 17,000 +*1 No. of Chambers of Commerce and Industry (CCI) that We Partner with 107*1 No. of Financial Institutions (FI) Served with Our Products: 40*1 # of API connections with Fls 1,072°2 75 *1 Number of accountants who use our services as of end of June 2021. Previous disclosure, 4,600+ members, were the number of accounting offices who have introduced our services. *2 As of 13 July 2021. Counting financial institutions (including Shinkin Banks, Labor Banks and Agricultural and Fishery Cooperative Savings Insurance Corporations) that have API connections or web scraping connections with contracts.#77ALL ESG / Talent Forward Focus on creating environment with diversity and various opportunities for growth. "TERAKOYA" one-on-one sessions in Japanese for overseas new graduates hired as engineers One-on-one sessions to help participants learn Japanese language and culture, conducted by volunteers Make it!! "Leadership Forward Program" to groom leaders Program to train next leaders, conducted by management members and external instructors 76#78Products and Services THE MUSIC 001 00 0#79Business Money Forward Cloud - SaaS Platform for Back Office Money Forward Cloud provides various products for back-office operations. 78 Money Forward Cloud Money Forward Cloud Accounting Money Forward Cloud Payroll Money Forward Cloud Attendance Money Forward Cloud Box Money Forward Cloud Invoice Money Forward Cloud My Number Money Forward Cloud Accounting Plus Money Forward Cloud Tax Return Money Forward Cloud Expense Money Forward Cloud Social Insurance Money Forward Cloud Payable Management ✓ Money Forward Cloud Contract Money Forward Cloud Receivable Billing Money Forward Cloud Fixed Assets#80Business Providing a Paradigm Shift - Integrated Back Office Plans to facilitate a shift from a world filled with cumbersome manual back-office operations to one which automatically connects back-office functions through cloud. Conventional Back Office - Manual entries based on paperwork Payroll Statement Invoice Money Forward Cloud - Integration of back-office functions Attendance Attendance Sheet Manual Entry to Accounting Software My Number My Number Expense Statement Invoice Payroll Accounting Expense 79#81Business Why Money Forward Cloud is the Right Choice (1/2) 80 Automated operations enable users to reduce cost and time for back office operations significantly. Reduced the time spending on monthly accounting operations by approximately 50%*1 Saved ¥1 million per year*2 in expense reimbursement Manual input Automated input Ave 19 hours/month Ave 9 hours/month Submit/Approve by Paper Ave ¥1.6 million Submit/Approve by Smartphone Ave ¥0.3 million +Cloud Expense fee (0.3 million) *1 Based on the results of the internet survey "Money Forward Cloud Accounting and Tax Return user Questionnaire" in September 2019. *2 When company has 100 employees, their hourly rate is ¥1,500 and 50 of them claim expense reimbursement on a monthly basis.#82Business Why Money Forward Cloud is the Right Choice (2/2) 81 Conventional Software Money Forward Cloud Access from multiple devices Automated journal entry Easy to co-work with accountants Co-work on accounting operations Initial Cost Need to send data Δ Automated Software Update Charges additional fee or manual update Introduction Risk of Data leakage/loss Need installation Loss with PC malfunction or storage failure Automated input and suggestion of journal entry classification No initial Cost No need to install Automated backup almost reduced the risk to Zero HR/Invoice Tools Need to manage with Excel or install other software Various software can be used and able to connect to accounting software#83Business Business Domain - Price Table Accountants & their clients Sole Proprietors SMEs Corporates 82 Distribution Field sales Small Business Monthly: ¥3,980 Annual: ¥35,760 (¥2,980/month) Price (Example) Monthly: ¥5,980 Annual: ¥59,760 (¥4.980/month) Business STREAMED min ¥10,000 Manageboard min ¥9,800 Personal Mini Monthly: ¥980 Annual: ¥9,600 (¥800/month) WEB marketing Personal Monthly: ¥1,280 Annual: ¥11,760 (¥980/month) Personal Plus Annual: ¥35,760 (¥2,980/month) Small Business Monthly: ¥3,980 Annual: ¥35,760 (¥2,980/month) Business Monthly: ¥5,980 Annual: ¥59,760 (¥4,980/month) Field sales/ Inside sales Accounting Plus Inquiry Price V-ONE Cloud Min ¥33,000 Expense ¥500/employee Payroll ¥300/employee Attendance ¥300/employee Social Insurance ¥100/employee Payable Management ¥300/transaction * All listed prices are excluding tax.#84Business Expansion of Partnerships with Accounting Firms Focusing on helping accounting firms and their clients succeed, working through branches across Japan. 68%* of Japan's top 100 accounting firms have already introduced our cloud accounting modules. Hokkaido Tohoku MATCH.POINTS 税理士人 SUZUKA Flasks Some 中野会計事務所 マッチポイント株式会社 Area Venture partners T Kanto Koshinnetsu KODATO AR R 吉田会社 OAG Group 税理士法人TOTAL ATLAS アト Area 辻・本郷 税理士法人 G.S. ブレインズ税理士法人 HONGD TSUJAX & CONSULTING Semen BUSINESS NAVIGATION SALIRE GROUP Seven Rich 会計事務所 Seven Rich Accounting A.G.S. Tokai SM SMCホールディングス SUPPORT MANAGEMENT CONSULTANTS Hokuriku Area 税理士法人スマッシュ経営 Kansai Triple Good トリブルグッドグループ Area Chugoku Shikoku Area MMPC GROUP 企業のに総合力で奉仕する。 会計グループ イザーク ○ ひかり税理士法人 Opañera 楊璨士法人 大樹 税理士法人葵パートナーズ hmr venth se action success Solution Accompany ひろせ税理士法人 税理士法人 アクセス SBC PARTNERS www 税理士法人 SIN axis ADRATS WELDARSTET みどり合同税理士法人グループ SN -77 Kyushu LPC Area Partners HARRY H 成和税理士法人 83 GORRA EC 伊藤会計事務所 & 武内綜合会计 IG会計グループ ●永田経営グループ TA PARTNERS ディーエーパートナーズ ITO TAI ACCOUNTANT OFFICE J. CERTIRED PUBLIC TAX ACCOUNTANTSCO アクコス * As of June 30, 2021. Calculated by Money Forward, Inc. based on "Top 500 Accounting Firms" in 2019 by Monthly ProPartner.#85Business Back Office SaaS Potential Market Size Potential market size of back-office SaaS, Group's current area of focus, is estimated to be about ¥1.45 trillion*1. 84 Sole Proprietors Small Enterprise*2 E Medium Enterprise *2 Potential customers TAM*1 4.5mn ¥70 billion 1.5mn ¥144 billion 0.3mn ¥1.23 trillion *1 Created by Money Forward, Inc. based on National Tax Agency 2017 Survey, MIAC June 2016 Economic Census Activity Survey, MIAC 2017 Labor Force Survey. Total annual expenditure when the Group's all potential customers introduced Money Forward Cloud in Japan. The total number of potential customers is the sum of sole proprietors and corporates with less than 1,000 employees. *2 Defined as "Small enterprise" for a corporate with less than 20 employees, “Medium enterprise" for a corporate with between 20 and 999 employees.#86Business Domestic SaaS Marketing Potential Market Size. 85 Domestic SaaS marketing potential market size is estimated to expand to about \0.95 trillion, along with the expansion of SaaS market in Japan. Advertising costs SaaS potential market size*1 to net sales ratio*2 ¥6.1 tn × 15.6% X = ¥0.95 tn *1 Estimated based on 24% of the total investment in business systems in the domestic software market in FY 2020 by Fuji Chimera Research Institute, Inc., "2019 New Software Business Market" and the potential market size of back-office SaaS described in the former page. *2 Average advertising costs to net sales ratio of domestic major public SaaS companies. Created by Money Forward, Inc. based on financial reports and presentation documents of Money Forward, RAKUS, Uzabase, User Local, kaonavi, Chatwork, Sansan, freee, Cybozu, and TeamSpirit available as of December 1, 2020.#87Business BOXIL - SaaS Marketing Platform BOXIL connects its 10+ million PV* monthly users (potential SaaS customers) with 1,000+ SaaS products, receiving fees from the SaaS vendors for every document request made by the potential customers. D Provide Service Info Post Service Detail Potential Customers Register Contact Info BOXIL Introduce Potential Customers * As of October 2019 SaaS Providers 86#88Home Money Forward ME - Automated PFM Service 87 Money Forward ME is the No.1 PFM app in Japan*1, reaching 12 million users. Number of financial services that can be connected is also No.1*2. Integrates 2,600+ *2 financial services and automatically creates household accounting books Money Forward ME¹ is continued to be No.1 PFM service AA ポイント 1723 ホーム 家計簿アプリ ポイント ¥4,826,000 623 P ポイント 利用率 No.1 аложни MELB-CR Manage your financial services easily By aggregating your financial data and visualize your expenditure, you can find what you are wasting. *1 Macromill, Inc "PFM app currently used" (Nov. 18 to 19, 2020) Survey targets: 1,034 PFM app users in their 20s to 60s. *2 Based on research by Money Forward, Inc. as of June 2021. Осен V350.000 6.2. V180,000 V170,000 V182,000#89Home TAM of TAM of Home Domain 88 Approaching to ¥800 billion TAM related to personal financial services through business development and business alliances. PFM 33 million people *1 ✗ ¥6,000*2 ¥200 million Asset management ¥15 trillion *3 1% *4 = ¥150 million Electricity ¥5 trillion *5 ☑ 2% *4 == ¥100 million Insurance ¥4 trillion *6 5% *4 = ¥200 million Real estate ¥4 trillion *7 ✗ 2% *4 ¥80 million FP consultation 3.5 million people*8 ¥20,000 *4 ¥70 million Total ¥800 million *1 Net banking users. Calculated by the Company by estimating the total number of Internet banking users in Japan based on the number of Internet banking accounts at five metropolitan banks, and the "White Paper on Financial Information Systems 2016". *2 Annualized premium charge for Money Forward ME. *3 The total amount of financial assets in the accounts linked to the personal services provided by Money Forward ME and Money Forward X as of the end of May 2021. When the same account is linked to multiple accounts, the amount is calculated in duplicate. *4 Commission rate the Company receives, estimated based on other companies' services.*5 Market size of new electric power companies. Estimated by Money Forward, Inc. based on "Population, Demographics and Households Based on the Basic Resident Ledger" by the Ministry of Internal Affairs and Communications, "Progress in Total Liberalization of Electricity and Gas Retailing" by the Ministry of Economy, Trade and Industry, "General Contact Points for Government Statistics (e-Stat)," and "Household Income and Expenditure" by the Ministry of Internal Affairs and Communications. *6 New subscription fee for individual insurance contracts. Calculated by the Company based on The Life Insurance Association of Japan's 2020 "Trends in Life Insurance" and the FY2019 Survey on "Life Insurance Coverage (preliminary version)". *7 Market size of the existing condominium market in Tokyo. Based on "Trends in the Tokyo Metropolitan Area Real Estate Market (2020)" by the East Japan Real Estate Information Network. *8 Of the number of new individual insurance contracts purchased, annual premiums paid by those who purchased through insurance agents. Based on the Life Insurance Association of Japan's 2020 "Trends in Life Insurance" and the Life Insurance Culture Foundation's "National Survey on Life Insurance (Preliminary Version)" for FY 2008.#90Money Forward Kessai Finance BPO and Online Invoicing Service 89 Offers total invoicing service. Takes only a few seconds at the shortest for approval process with 100%* payment guarantee. Enables corporate to easily and safely introduce deferred payment. * Ж Check Payment Approve Send Invoice Collect Receivable Send Reminder Status Only when the prescribed conditions by Money Forward Kessai, Inc. are met.#91Money Forward Early Payment Finance Accounts Receivable Financing Enables corporates to improve cash flow by selling their accounts receivable before the payment due date. Client 03 Remittance of 01 Application Receivable 02 Early Payment Check of Payment Transfer after Approval Money Forward Early Payment 90#92M Money Forward Disclaimer The forward-looking statements and other contents included in this material are determined based on information currently available and may be subject to change due to macro economic trends, changes in the market environment or industry in which the Group operates, or for other internal/external factors. Money Forward, Inc. shall not represent or warrant the accuracy or completeness of the information contained in this material. The names of companies, products, and services (including logos, etc.) mentioned in this document are trademarks of the respective companies or registered trademarks of the respective rights holders. This material is an excerpt translation of the original Japanese material and is only for reference purposes. In the event of any discrepancy between this translated material and the original Japanese material, the latter shall prevail. 91