#1Earnings Results for the Six-month Period Ended September 30, 2022 Investor Briefing November 14, 2022 SoftBank Group Corp. ― SoftBank Group#2Disclaimers This presentation provides relevant information about SoftBank Group Corp. ("SBG") and its subsidiaries (including Arm Limited, together with SBG, the "Company") and its affiliates (together with the Company, the "Group") and does not constitute or form any solicitation of investment including any offer to buy or subscribe for any securities in any jurisdiction. This presentation contains forward-looking statements, beliefs or opinions regarding the Group, such as statements about the Group's future business, future position and results of operations, including estimates, forecasts, targets and plans for the Group. Without limitation, forward-looking statements often include the words such as "targets", "plans", "believes", "hopes", "continues", "expects", "aims", "intends", "will", "may", "should", "would", "could", "anticipates", "estimates", ", "projects" or words or terms of similar substance or the negative thereof. Any forward-looking statements in this presentation are based on the current assumptions and beliefs of the Group in light of the information currently available to it as of the date hereof. Such forward-looking statements do not represent any guarantee by any member of the Group or its management of future performance and involve known and unknown risks, uncertainties and other factors, including but not limited to: the success of the Group's business model; the Group's ability to procure funding and the effect of its funding arrangements; key person risks relating to the management team of SBG; risks relating to and affecting the Group's investment activities; risks relating to SB Fund (defined as below), its investments, investors and investees; risks relating to SoftBank Corp. and the success of its business; risks relating to law, regulation and regulatory regimes; risks relating to intellectual property; litigation; and other factors, any of which may cause the Group's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by such forward-looking statements. For more information on these and other factors which may affect the Group's results, performance, achievements, or financial position, see "Risk Factors" on SBG's website at https://group.softbank/en/ir/investors/management_policy/risk_factor. None of the Group nor its management gives any assurances that the expectations expressed in these forward-looking statements will turn out to be correct, and actual results, performance, achievements or financial position could materially differ from expectations. Persons viewing this presentation should not place undue reliance on forward looking statements. The Company undertakes no obligation to update any of the forward-looking statements contained in this presentation or any other forward-looking statements the Company may make. Past performance is not an indicator of future results and the results of the Group in this presentation may not be indicative of, and are not an estimate, forecast or projection of the Group's future results. sources. The Company does not guarantee the accuracy or completeness of information in this presentation regarding companies (including, but not limited to, those in which SB Funds have invested) other than the Group which has been quoted from public and other This presentation contains statements relating to Arm Limited. Such statements are presented solely for the informational purposes of the shareholders of SBG such and are not, nor should they be construed as, an offer to sell or a solicitation of an offer to purchase any securities issued by Arm Limited. Regarding Trademarks Names of companies, products and services that appear in this presentation are trademarks or registered trademarks of their respective companies. Important Notice - Trading of SBG Common Stock, Disclaimer Regarding Unsponsored American Depository Receipts SBG encourages anyone interested in buying or selling its common stock to do so on the Tokyo Stock Exchange, which is where its common stock is listed and primarily trades. SBG's disclosures are not intended to facilitate trades in, and should not be relied on for decisions to trade, unsponsored American Depository Receipts ("ADRs"). SBG has not and does not participate in, support, encourage, or otherwise consent to the creation of any unsponsored ADR programs or the issuance or trading of any ADRs issued thereunder in respect of its common stock. SBG does not represent to any ADR holder, bank or depositary institution, nor should any such person or entity form the belief, that (i) SBG has any reporting obligations within the meaning of the U.S. Securities Exchange Act of 1934 ("Exchange Act") or (ii) SBG's website will contain on an ongoing basis all information necessary for SBG to maintain an exemption from registering its common stock under the Exchange Act pursuant to Rule 12g3-2(b) thereunder. To the maximum extent permitted by applicable law, SBG and the Group disclaim any responsibility or liability to ADR holders, banks, depositary institutions, or any other entities or individuals in connection with any unsponsored ADRs representing its common stock. The above disclaimers apply with equal force to the securities of any of the Group which are or may in the future be the subject of unsponsored ADR programs, such as SoftBank Corp. or Z Holdings Corporation. Notice regarding Fund Information contained in this Presentation This presentation is furnished to you for informational purposes and is not, and may not be relied on in any manner as, legal, tax, investment, accounting or other advice or as an offer to sell or a solicitation of an offer to buy limited partnership or comparable limited liability equity interests in any fund managed by a subsidiary of SBG, including SB Global Advisers Limited ("SBGA"), SB Investment Advisers (UK) Limited ("SBIA"), and any of their respective affiliates thereof (collectively, the "SB Fund Managers" and each an "SB Fund Manager") (such funds together with, as the context may require, any parallel fund, feeder fund, co-investment vehicle or alternative investment vehicle collectively, the "SB Funds" and each an "SB Fund"). For the avoidance of doubt, the SB Funds include, among other funds, SoftBank Vision Fund L.P. (together with, as the context may require, any parallel fund, feeder fund, co-investment vehicle or alternative investment vehicle, the "Vision Fund I"), which are managed by SBIA and its affiliates; SoftBank Vision Fund II-2 L.P. (together with, as the context may require, any parallel fund, feeder fund, co-investment vehicle or alternative investment vehicle, the "Vision Fund II"), which are managed by SBGA and its affiliates; and SBLA Latin America Fund LLC (together with, as the context may require, any parallel fund, feeder fund, co-investment vehicle or alternative investment vehicle, the "SoftBank Latin America Fund"), which are managed by SBGA and its affiliates. None of the SB Funds (including the Vision Fund I, Vision Fund II and SoftBank Latin America Fund), the SB Fund Managers -any successor or future fund managed by an SB Fund Manager, SBG or their respective affiliates makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein and nothing contained herein should be relied upon as a promise or representation as to past or future performance of the SB Funds or any other entity referenced in this presentation, or future performance of any successor or the future fund managed by an SB Fund Manager. Information relating to the performance of the SB Funds or any other entity referenced in this presentation has been included for background purposes only and should not be considered an indication of the future performance of the relevant SB Fund, any other entity referenced in this presentation or any future fund managed by an SB Fund Manager. References to any specific investments of an SB Fund, to the extent included therein, are presented to illustrate the relevant SB Fund Manager's investment process and operating philosophy only and should not be construed as a recommendation of any particular investment or security. The performance of individual investments of an SB Fund may vary and the performance of the selected transactions is not necessarily indicative of the performance of all of the applicable prior investments. The specific investments identified and described in this presentation do not represent all of the investments made by the relevant SB Fund Manager, and no assumption should be made that investments identified and discussed therein were or will be profitable. The performance of an SB Fund in this presentation is based on unrealized valuations of portfolio investments. Valuations of unrealized investments are based on assumptions and factors (including, for example, as of the date of the valuation, average multiples of comparable companies, and other considerations) that the relevant SB Fund Manager believes are reasonable under the circumstances relating to each particular investment. However, there can be no assurance that unrealized investments will be realized at the valuations indicated in this presentation or used to calculate the returns contained therein, and transaction costs connected with such realizations remain unknown and, therefore, are not factored into such calculations. Estimates of unrealized value are subject to numerous variables that change over time. The actual realized returns on the relevant SB Fund's unrealized investments will depend on, among other factors, future operating results, the value of the assets and market conditions at the time of disposition, any related transaction costs and the timing and manner of sale, all of which may differ from the assumptions and circur stances on which the relevant SB Fund Manager's valuations are based. Past performance is not necessarily indicative of future results. The performance of an SB Fund or any future fund managed by an SB Fund Manager may be materially lower than the performance information presented in this presentation. There can be no assurance that each SB Fund or any future fund managed by the relevant SB Fund Manager will achieve comparable results as those presented therein. Third-party logos and vendor information included in this presentation are provided for illustrative purposes only. Inclusion of such logos does not imply affiliation with or endorsement by such firms or businesses. There is no guarantee that an SB Fund Manager, an SB Fund's portfolio companies, any future portfolio companies of a future fund managed by an SB Fund Manager or SBG will work with any of the firms or businesses whose logos are included in this presentation in the future. SBGA and SBIA manage separate and independent operations and processes from each other and those of SBG in the management of Vision Fund I, Vision Fund II and SoftBank Latin America Fund, respectively. Any SB Funds managed by SBGA or SBIA are solely managed by SBGA or SBIA respectively.#3Exchange rates per JPY used for translation Average during quarter 1 USD 1 CNY EOQ 1 USD 1 CNY SVF SBIA SBGA SBGC Q1 110.00 17.01 SBG The Company SBKK SB Northstar SVF1 or SoftBank Vision Fund 1 SVF2 or SoftBank Vision Fund 2 LatAm Funds or Latin America Funds T-Mobile Deutsche Telekom Jun 30 Arm Alibaba Q2 FY2021 110.47 17.09 Sep 30 Q3 113.60 17.75 Dec 31 Abbreviations Abbreviations used in Accounting section of this presentation are as follows. In some cases, "Ltd." and "Corporation" etc. are omitted from the company name. Abbreviations Q4 117.10 18.43 Mar 31 122.39 19.26 Arm Limited Alibaba Group Holding Limited SoftBank Group Capital Limited T-Mobile US, Inc. after merging with Sprint Deutsche Telekom AG Q1 129.04 19.60 Jun 30 Q2 FY2022 138.68 20.19 Sep 30 144.81 20.37 Q3 = SoftBank Dec 31 Q4 Definition (Each of the following abbreviations indicates the respective company and its subsidiaries, if any) SoftBank Group Corp. (stand-alone basis) SoftBank Group Corp. and its subsidiaries SoftBank Corp. SB Northstar LP SoftBank Vision Fund L.P. and its alternative investment vehicles SoftBank Vision Fund II-2 L.P. SBLA Latin America Fund LLC SVF1, SVF2 and LatAm Funds SB Investment Advisers (UK) Limited SB Global Advisers Limited Mar 31 Group#4Accounting#5Consolidated Results (¥ B) Net sales Income before income tax Net income (attributable to owners of the parent) (Reference) Loss on investments Investment Business of Holding Companies SoftBank Vision Funds Other investments FY21 Q1-Q2 2,983.5 1,047.0 363.6 -395.2 279.9 -684.8 9.6 FY22 Q1-Q2 3,182.5 292.6 -129.1 -849.6 3,524.7 -4,353.5 -20.7 Change 199.0 -754.3 -492.7 -454.4 3,244.7 -3,668.7 -30.3 =SoftBank Change % 6.7% -72.0% | Group Accounting 2#6Change in Reportable Segments From FY22Q1, the Latin America Funds segment has been integrated into the "SoftBank Vision Funds segment." FY21 FY22 Q1-Q2 Investment Business of Holding Companies Segment SoftBank Group SoftBank Vision Funds Segment SoftBank Vision Fund 1/2 Integrated Investment Business of Holding Companies Segment SoftBank Group SoftBank SoftBank Segment =SoftBank -Z HOLDINGS YAHOO!LINE JAPAN SoftBank Vision Funds Segment SoftBank Vision Fund 1/2 Latin America Funds Group Arm Segment arm SoftBank Group SoftBank Segment SoftBank -Z HOLDINGS YAHOO! LINE Latin America Funds Segment Latin America Funds Arm Segment arm PPayPay Other Other P PayPay FORTRESS =SoftBank FORTRESS *Since PayPay became a subsidiary of SBKK and Z Holdings from Oct 2022, its operating results will be included in the SoftBank segment instead of Other from FY22Q3, with the results retroactively adjusted and presented for FY22Q1-Q3 and for the same period of the previous fiscal year. Group Accounting 3#7No Impact on SBG from PayPay's Conversion into Subsidiary of SBKK PayPay became a subsidiary of SBKK and Z Holdings from Oct 2022. SBKK ● ● SoftBank PayPay's conversion into a subsidiary: Plan to record remeasurement gain relating to business combination in FY22Q3. Change in accounting policy: Plan to change to acquisition method* from book-value method (pooling of interests method) for transactions made under common control involving non- controlling interests from FY22Q3, in conjunction with PayPay's conversion into a subsidiary. Retroactively apply the accounting policy for transactions such as the consolidation of Yahoo Japan (currently Z Holdings) in Jun 2019 → Recognize identifiable intangible assets → Expect to record amortization expenses SBG Has no above impact and will not record remeasurement gain or amortization expenses, as PayPay and Z Holdings have consistently been consolidated subsidiaries. Group * SBKK previously accounted for transactions under common control based on the carrying amount of the parent company's assets and liabilities (book-value method or pooling of interests method), and regardless of the actual date of the transaction under common control, retrospectively combined the financial statements of the transferred companies as if such transactions were executed by SBKK on the later of the date when the parent obtained control of the transferred companies prior to the transfer, or the opening balance sheet date of the comparative period as part of the consolidated financial statements of SBKK. Accounting 4#8Alibaba (Transactions in FY22Q2) As of Jun 30, 2022 Jul Jul Aug - Sep Procurement through prepaid forward contracts ($6.8B) Physical settlement of prepaid forward contracts Early physical settlement of prepaid forward contracts (corresponding to 242M ADRs) Procurement through prepaid forward contracts ($1.1B) Sep As of Sep 30, 2022 Ownership % 23.7% <20% 14.6% =SoftBank Scope of consolidation Equity method associate Group Exclusion from associates Other investments (FVTPL = market share price) Accounting 5#9Alibaba (Amounts Recorded in B/S) Increment by income on equity method investments, etc.*1 (until exclusion from associates) Alibaba shares (used for physical settlement) Alibaba shares (used for prepaid forward contracts) Alibaba shares *1 ¥110.1B income on equity method investments + ¥78.5B gain from changes in equity interest, etc. *2 Remeasurement gain in P/L = ¥3,411.6B increment by remeasurement (¥7,267.7B carrying amount remeasured upon exclusion from associates - ¥3,856.1B carrying amount under equity method) + ¥585.1B exchange differences from the translation of foreign operations, etc. = ¥3,996.7B *3 Valuation loss on Alibaba shares that continued to be held at FY22Q2-end, due to share price decline from the time of exclusion from associates Equity method investments Alibaba share price $113.68 4,566.1 FY22Q1-end Increment by income on equity method investments, etc.*1 +224.4 Increment by remeasurement*2 +3,411.6 Physical settlement -934.5 i 3,856.1 Equity method associate Investment securities (FVTPL) Excluded from associates Physical 7,267.7 settlement Upon exclusion from associates i-1,705.8 SoftBank Recorded in "investment securities" as financial assets at FVTPL with investment results measured at fair value 5,561.9 *3 Unrealized valuation loss* -1,077.1 After exclusion from associates $79.99 Group 4,484.8 (\B) FY22Q2-end Accounting 6#10Early Physical Settlement of Alibaba Prepaid Forward Contracts Corresponding to 242M ADRs Announced on Aug 10 ● (a) Gain on settlement (Gain on settlement of prepaid forward contracts using Alibaba shares pertaining to the Early Physical Settlement*¹) P/L: Recorded ¥5,371.6B in income before income tax for FY22Q2 → Recorded value of Alibaba shares that had not been counted in accounting B/S: Reduced financial liabilities relating to prepaid forward contracts by ¥3,821.8B ($27.57B) (b) Gain from remeasurement (Gain from remeasurement of Alibaba shares held upon exclusion from associates) (c) Derivative gain (Derivative gain on prepaid forward contracts that are the subject of the Early Physical Settlement*¹) Amount recorded =SoftBank Group Consolidated P/L account ¥584.8B Gain on investments at Investment ¥3,996.7B Companies ¥5,371.6B Business of Holding Derivative gain ¥790.1B (excl. gain (loss) on investments) Total (contribution to income before income tax)*2 *1 The early physical settlement of prepaid forward contracts corresponding to 242M ADRs of Alibaba shares from Aug to Sep 2022. Certain contracts that became due for settlement during the implementation period were also settled. *2 The difference from the estimated ¥4.6T in the Aug 10, 2022 press release is mainly due to (1) the difference between the Alibaba share price used in assumption for the estimate ($91.19/ADR) and the actual share price at settlement (a and c) or upon exclusion from associates (b), and (2) the difference between the exchange rate used in assumption (¥134.89/$) and the actual exchange rate. Accounting 7#11=SoftBank Expected Cash Tax Related to Alibaba Shares Expected cash tax of ¥203.7B at SBG's wholly owned subsidiary mainly due to the realization of derivative gain related to the early physical settlement mentioned on the previous page (recorded in B/S as income taxes payable). + Group Estimated as of Sep 30, 2022 that the disposal of Alibaba shares related to the early physical settlement from SBG to its subsidiaries conducting fund procurement will result in cash tax of ¥200.0B±a at SBG. Note that the amount is undetermined until the fiscal year-end as it depends on other gain/loss, including foreign exchange gain/loss, of SBG through March 31, 2023. Accounting 8#12Segment Income: SoftBank Vision Funds P/L Loss on investments at SoftBank Vision Funds Loss on investments at SVF1, SVF2, and LatAm Funds Realized gain on investments* Unrealized loss on valuation of investments* Change in valuation for the fiscal year Reclassified to realized gain recorded in the past fiscal years Interest and dividend income from investments Derivative gain (loss) on investments Effect of foreign exchange translation Gain on other investments Selling, general and administrative expenses Finance cost Derivative gain (excl. gain (loss) on investments) Change in third-party interests in SVF Other gain (loss) Segment income (income before income tax) * Net amount FY22 FY21 Q1-Q2 Q1-Q2 -549.1 -4,312.3 -549.8 853.4 -1,352.0 -4,303.1 -1,015.9 23.2 -42.5 -31.9 Unrealized valuation loss on investments held at FY22Q2-end: -336.1 -4,200.2 SVF1 -¥1,845.5B (-$13.92B), SVF2 -¥1,980.8B (-$15.01B), LatAm Funds -¥374.0B (-$2.87B) 0.7 -35.0 -10.2 1.4 5.4 194.1 -4,316.2 SVF1 -¥2,008.3B, SVF2 -¥1,934.4B, LatAm Funds -¥373.6B SVF1 +¥3.3B (mainly monetization of public portfolio companies), SVF2 +¥0.8B (mainly full exit of KE Holdings), LatAm Funds +¥1.3B 0.8 36.4 -55.6 FY22Q1-Q2 Items The amount of unrealized valuation gain (loss) recorded in past fiscal years related to the -102.8 investments sold in FY22Q1-Q2 and reclassified to "realized gain on investments" SVF1 -¥118.4B (-$1.27B), SVF2 +¥15.8B (+$0.06B), LatAm Funds -¥0.2B (-$2M) 3.9 -31.0 -35.8 0.6 =SoftBank 9.1 -2.4 -401.2 -3,350.7 Group (B) The amount arose from the FX differences used to translate unrealized and realized gains and losses The sum of distributions to third-party investors in proportion to their interests in fixed distributions and performance-based distributions, which are based on the gains and losses on investments at each fund, net of (i) management and performance fees 1,018.7 payable to SBIA from SVF1, (ii) management and performance-linked management fees payable to SBGA from SVF2, (iii) management fees, performance-linked management fees, and performance fees payable to SBGA from LatAm Funds, and (iv) operating and other expenses of each fund. Accounting 9#13(Reference) Investment Performance of SVF1 and SVF2 SVF1 Exited investments SVF2 Investment cost *2 Exited investments 89.4 21.8 0.0 Investments before exit 67.6 Reversal of valuation gain/loss recorded in prior periods for exited investments in FY22 2.4 Derivatives/Interests/Dividends 49.8 1.5 Since Inception Returns 48.3 102.9 39.9 60.6 35.2 2.6 Gain/loss 32.7 13.5 18.1 -7.0 2.4 -14.6 1.1 -15.6 -0.1 FY22*¹ Gain/loss (Q2) -5.0 (-¥695.2B) 0.2 -5.1 -0.1 -4.6 (-¥637.3B) -0.0 Investments before exit Reversal of valuation gain/loss recorded in prior periods for exited investments in FY22 Derivatives/Interests/Dividends -0.1 *1 The amount of gains and losses for exited investments in FY22 represents the exit price net of the investment cost of such investments. Unrealized valuation gains and losses of such investments recorded in prior years or FY22Q1 are presented as reversal of valuation gain/loss recorded in prior periods for exited investments in FY22. Therefore, the total amount of gains and losses for FY22Q1 (Ápr to Jun) disclosed in FY22Q1 and the gains and losses for FY22Q2 (Jul to Sep) for "investments before exits" may not match the amount of gains and losses for FY22Q1-Q2 (Apr to Sep). -4.6 SoftBank 0.0 -0.0 Group ($ B) Gain/loss (Q1-Q2) -15.2 (-¥2,008.3B) 0.0 -14.0 -1.2 -14.6 (-¥1,934.4B) 0.0 -15.0 0.1 0.3 *2 For derivatives, the investment cost represents the cost of the derivative. Returns represent the exit price for exited investments, the fair value for investments before exits, the settlement amount of settled contracts or the fair value of open contracts for derivatives, and the respective amounts received for interest or dividends. Accounting 10#14Segment Income: Investment Business of Holding Companies P/L item Gain on investments at Investment Business of Holding Companies Gain relating to settlement of prepaid forward contracts using Alibaba shares Gain relating to sales of T-Mobile shares Realized gain (loss) on investments at asset management subsidiaries Unrealized loss on valuation of investments at asset management subsidiaries Derivative gain (loss) on investments at asset management subsidiaries Realized loss on investments Unrealized gain (loss) on valuation of investments Change in valuation for the fiscal year Reclassified to realized gain (loss) recorded in the past fiscal years Derivative gain on investments FY21 Q1-Q2 279.7 3.1 63.0 -80.0 405.5 FY22 Q1-Q2 3,524.7 68.5 11.2 12.2 -46.2 4,838.3 See page 6 and 7 for details 24.8 See page 12 for details of the sale of T-Mobile shares -54.2 -58.8 76.2 -5.8 -336.7 -147.7 462.2 -1,170.5 56.6 -1,158.2 FY22Q1-Q2:Alibaba -¥1,077.1B -12.3 FY22Q1-Q2 Items =SoftBank SB Northstar: Results of investment activities in listed stocks and other instruments 12.1 -30.7 FY22Q1-Q2: Increase in the fair value of the contingent consideration related to T-Mobile 86.5 shares +¥83.0B Group (¥ B) Effect of foreign exchange translation Other Selling, general and administrative expenses Finance cost Interest expenses of SBG and its wholly owned subsidiaries conducting fund procurement: -138.4 -240.6 +¥109.1B yoy (mainly due to the full amortization of unamortized costs associated with financial liabilities related to the early physical settlement of Alibaba prepaid forward contracts) -89.8 -1,100.1 FY22Q1-Q2: Impact of the weaker yen (See pages 22 and 23 for details) 267.0 Foreign exchange loss Income (loss) on equity method investments Derivative gain (excl. gain (loss) on investments) Mainly due to Alibaba prepaid forward contracts -23.9 FY22Q1-Q2: Loss on equity method investments related to Alibaba -¥25.4B 1,041.5 FY22Q1-Q2: ¥895.2B derivative gain on Alibaba prepaid forward contracts 624.0 Other gain 119.4 91.4 Segment income (income before income tax) 1,015.6 3,262.3 * The right to acquire T-Mobile shares for no additional consideration if certain conditions are met, which was received as part of consideration for the completion of the merger between Sprint Corporation and T-Mobile. See page 15 for details. Accounting 11#15Monetization of T-Mobile Shares Transaction a Borrowings made using 106.3M T-Mobile shares pledged as collateral (margin loan) Number of shares held as of Jun 30, 2021 b Fund procurement through prepaid forward contracts using 17.9M T-Mobile shares C Borrowings made using 43.0M T-Mobile shares pledged as collateral (margin loan) d Repayment of borrowings in "a" using funds acquired in "b" and "c" e 60-day loan using 45.4M T-Mobile shares pledged as collateral (bridge loan) f Sale of 45.4M T-Mobile shares to Deutsche Telekom, receiving 225M Deutsche Telekom shares as consideration, as a result of the partial exercise of call options by Deutsche Telekom Number of shares held as of Sep 30, 2021 g Fund procurement through collar transactions using 225M Deutsche Telekom shares h Repayment of borrowings in "e" using part of the funds acquired in "g" Number of shares held as of Dec 31, 2021 i Fund procurement through prepaid forward contracts using 6.9M T-Mobile shares j Partial repayment of borrowings in "c" using part of the funds acquired in "i" Number of shares held as of Mar 31, 2022 Sale of 21.2M T-Mobile shares to Deutsche Telekom, receiving $2.4B k as consideration, as a result of the partial exercise of call options by Deutsche Telekom | Partial repayment of borrowings in "c" using part of the funds acquired in "k" Number of shares held as of Jun 30, 2022 m Repayment of entire outstanding amount borrowed in "c" Number of shares held as of Sep 30, 2022 * The euro equivalent of the amount procured is €2.64B. Procured amount ($ B) 4.38 1.81 2.65 -4.38 1.25 3.04 -1.25 0.68 -0.59 2.40 * -1.20 -0.87 Execution timing Jul 2020 Sep 2021 Oct 2021 Mar 2022 Apr 2022 Aug 2022 =SoftBank Number of shares held (millions) T-Mobile shares 106.3 -45.4 60.9 60.9 60.9 -21.2 39.8 39.8 Group Deutsche Telekom shares 225.0 225.0 225.0 225.0 225.0 225.0 Accounting 12#16T-Mobile Shares: The Company's Holding (incl. Deutsche Telekom's Unexercised Call Options) & Fair Values • ● In Apr 2022, the Company sold 21.2M T-Mobile shares, following Deutsche Telekom's partial exercise of its call options. (Numbers of shares for exercised options) Fixed: 11.8M shares - Floating: 9.3M shares (Fair values of the above shares) At FY21Q4-end: $2,715M At the sale: $2,758M - - The number of T-Mobile shares held by the Company as of FY22Q2-end: 39.8M ((i)+(ii) below) (i) Call options held by Deutsche Telekom (Unexercised): 35.0M shares Fair value (Fixed: 6.7M shares, Floating: 28.2M shares) (ii) Not subject to call options: 4.8M shares (ii) T-Mobile shares (not subject to options) T-Mobile shares sold in FY21Q2 (incl. derivative financial liabilities) (i) T-Mobile shares (for unexercised options) (net of the fair value of derivative financial liabilities) T-Mobile shares sold in FY22Q1 (incl. derivative financial liabilities) $105.20 6/26 T-Mobile share price $125.29 Number of shares subject to call options held by Deutsche Telekom (million) Number of shares not subject to call options (million) Total (million) FY20 3,960 1,859 505 3,416 Q4-end 101.5 4.8 106.3 4,634 2,177 601 4,055 101.5 4.8 106.3 15,166 2,431 Q1-end Q2-end Q3-end Q4-end Q1-end Q2-end $144.83 695 4,646 101.5 4.8 106.3 FY21 $127.76 2,216 613 4,139 56.1 4.8 60.9 $115.98 2,073 557 3,791 56.1 4.8 60.9 $128.35 2,207 616 4,148 56.1 4.8 60.9 FY22 $134.54 646 =SoftBank 4,323 35.0 4.8 39.8 $134.17 ($ M) $231.5M (¥29.73B) unrealized valuation gain for FY22Q1-Q2 644 4,315 Group 35.0 4.8 39.8 $4,959M Accounting 13#17Deutsche Telekom Shares: The Company's Holding & Fair Values In Sep 2021, the Company acquired 225M Deutsche Telekom shares in return for the sale of T-Mobile shares. Number of Deutsche Telekom shares (million) At execution in Sep Deutsche Telekom share price €17.67 Fair value 4,665 225.0 Q2-end €17.40 4,537 FY21 225.0 Q3-end €16.30 Q4-end 225.0 €16.93 Q1-end 4,171 4,232 4,446 225.0 €18.95 FY22 225.0 = SoftBank Q2-end €17.49 ($ M) 3,859 Group -$372.8M (-¥53.76B) unrealized valuation loss for FY22Q1-Q2 225.0 Accounting 14#18T-Mobile Shares: Fair Values of Contingent Consideration ● Contingent consideration: The Company's right to acquire 48.8M T-Mobile shares for no additional consideration if certain conditions are met Conditions: 45-day trailing VWAP of T-Mobile share ≥ $150 during Apr 1, 2022 - Dec 31, 2025 T-Mobile share price $82.99 Fair value 1,825 $114.36 $104.15 3,025 3,529 $134.85 5,032 $125.29 4,161 $144.83 5,955 $127.76 4,634 $115.98 (Ref.) Closing price on Nov 11, 2022: $146.19 3,779 $128.35 4,832 SoftBank $134.54 $134.17 Group $637.0M (¥83.02B) derivative gain on investments for FY22Q1-Q2 ($ M) 5,384 5,469 FY21 FY21 FY21 FY21 FY22 FY22 Beginning of FY20 FY20 FY20 FY20 FY20 Q1-end Q2-end Q3-end Q4-end Q1-end Q2-end Q3-end Q4-end Q1-end Q2-end Accounting 15#19Consolidated P/L Summary (IFRSs) (\ B) P/L item Net sales Gross profit Gain (loss) on investments Gain on investments at Investment Business of Holding Companies Loss on investments at SoftBank Vision Funds Gain (loss) on other investments Total gain (loss) on investments Selling, general and administrative expenses Finance cost Foreign exchange loss Income (loss) on equity method investments Derivative gain (excl. gain (loss) on investments) Change in third-party interests in SoftBank Vision Funds Other gain Income before income tax Income taxes Net income Net income attributable to owners of the parent (+: plus to profit - minus to profit) FY21 FY22 Q1-Q2 Q1-Q2 +2,983.5 +3,182.5 +199.0 +1,635.0 +1,721.3 +86.3 +279.9 +3,524.7 +3,244.7 -684.8 -4,353.5 -3,668.7 +9.6 -20.7 -395.2 -849.6 -1,186.7 -1,254.3 -185.6 -314.2 -128.6 -92.2 -1,095.4 -1,003.2 -30.3 -454.4 -67.7 -54.91 -320.2 +265.3 +621.0 +1,029.8 +408.8 +194.1 +1,018.7 +824.6 +191.3 +91.2 -100.0 +1,047.0 +292.6 -754.3 -306.2¹ -456.8 +150.6 -603.7 +590.1 -13.6 +363.6 Change -129.1 -492.7 = SoftBank Gain on investments at Investment Business of Holding Companies (consolidated basis): +¥3,524.7B (See page 11 for details) Gain relating to settlement of prepaid forward contracts using Alibaba shares: +¥4,838.3B • Unrealized loss on valuation of investments mainly due to decline in Alibaba share price: -¥1,170.5B ● Loss on investments at SoftBank Vision Funds (consolidated basis) : -¥4,353.5B (See page 9 for details) • Unrealized loss on valuation (net): -¥1,845.8B (SVF1), -¥2,021.6B (SVF2) Realized gain on investments: +¥3.3B (SVF1), +¥0.8B (SVF2) Group Finance cost: -¥314.2B Interest expenses increased in the Investment Business of Holding Companies segment (See page 11 for details) Foreign exchange loss: -¥1,095.4B Impact of the weaker yen (See pages 22 and 23 for details) (Ref.) Increase in exchange differences from the translation in B/S: +¥2,647.1B (See page 21) Loss on equity method investments: -¥54.9B Loss on equity method investments related to Alibaba: -¥25.4B Derivative gain (excl. gain (loss) on investments): +¥1,029.8B Derivative gain related to Alibaba prepaid forward contracts: +¥895.2B Income taxes: -¥306.2B Recorded income taxes at SBKK and Yahoo Japan • Income taxes of ¥164.8B were recorded at SBG, and at subsidiaries conducting fund procurement using Alibaba shares and at related intermediate holding companies (both wholly owned subsidiaries of the Company). ● Accounting 16#20Consolidated B/S Summary (IFRSs) (\ B) B/S item Current assets Non-current assets Main items Cash and cash equivalents Derivative financial assets Other financial assets Other current assets Property, plant and equipment Goodwill Intangible assets Investments accounted for using the equity method Investments from SVF (FVTPL) SVF1 SVF2 LatAm Funds Investment securities Derivative financial assets Other financial assets Total assets Mar 2022 Sep 2022 10,028.6 10,187.8 1 5,169.0 5,886.2 1,050.4 654.3 707.9 971.1 334.1 247.4 37,516.1 36,012.7 1,693.8 1,842.7 4,897.9 2,427.6 5,459.2 2,480.7 5,234.5 14,909.6 2 3 847.9 12,690.5 8,365.3 7,297.0 5,401.1 4,427.5 1,143.2 966.0 3,085.4 7,362.6 1,333.8 1,659.4 2,230.6 2,257.9 47,544.7 46,200.6 Change +159.2 +717.2 -396.2 -263.3 -86.7 -1,503.3 -149.0 +561.2 +53.1 -4,386.6 -2,219.1 -1,068.3 -973.6 -177.2 +4,277.2 +325.6 +27.3 -1,344.1 1 Cash and cash equivalents: ¥5,886.2B (+¥717.2B) SBG ¥3,259.2B (+¥756.6B) 2 4 – 1 -¥407.5B decrease in derivative financial assets related to Alibaba prepaid forward contracts (mainly due to the physical settlement of a portion of the contracts, despite an increase in the derivative financial assets due to a fall in the Alibaba share price) Decrease in carrying amount of Alibaba shares: -¥4,572.1B (exclusion from equity method associates) Downsizing of SB Northstar's business: Restricted cash -¥131.5B, investments from asset management subsidiaries -¥93.4B, derivative financial assets in asset management subsidiaries -¥48.3B Arm +¥530.9B (due to the weaker yen against USD) 3 Investments from SVF (FVTPL): ¥12,690.5B (-¥2,219.1B) SVF1 -¥1,068.3B (fair value decrease: -$13.92B, sold: -$4.29B, acquired: +$0.26B) SVF2 -¥973.6B (fair value decrease: -$15.29B, sold: -$0.51B, acquired: +$2.24B) LatAm Funds -¥177.2B (fair value decrease: -$2.87B, sold: -$0.05B, acquired: +$0.25B) ● SoftBank ● Group Includes the increase in carrying amount of investments due to an 18.3% depreciation of the yen against USD in FX rate used for translations at FY22Q2-end Investment securities: ¥7,362.6B (+¥4,277.2B) (See page 18 for details) ¥200.6B increase in the fair value of the contingent consideration* related to T-Mobile shares * The right to acquire T-Mobile shares for no additional consideration if certain conditions are met, which was received as consideration for the completion of the merger between Sprint Corporation and T-Mobile. See page 15 for details. Accounting 17#21Investment Securities on Consolidated B/S (Main Investments) Investment securities FVTPL Alibaba T-Mobile Deutsche Telekom SoFi Technologies Lemonade NVIDIA Others FVTOCI and others Mar 2022 3,085.4 2,587.6 957.1 ($7,820M) 518.0 ($4,232M) 110.2 38.7 35.1 928.6 497.7 Sep 2022 7,362.6 6,905.8 4,484.8 ($30,970M) 772.7 ($5,336M) 558.9 ($3,859M) 36.8 18.5 1,034.2 456.8 Change +4,277.2 +4,318.2 -184.3 (-$2,484M) +40.9 (-$373M) +4,484.8 The carrying amount of Alibaba shares that continued to be held (+$30,970M) at FY22Q2-end was newly recorded. -110.2 Fully exited in FY22Q2 Outline Mainly due to the sale of 21.2M T-Mobile shares to Deutsche Telekom due to Deutsche Telekom's partial exercise of call options for T-Mobile shares Increased due to the weaker yen -1.9 Fair value decrease +105.6 -16.6 Fair value decrease SoftBank -40.9 Includes public and corporate bonds held by PayPay Bank Group Notes: Following the integration of the Latin America Funds segment into the SoftBank Vision Funds segment in FY22Q1, investments from the LatAm Funds, which were previously recorded as investment securities, have been retroactively adjusted as "Investments from SVF (FVTPL)." • Includes the increase in carrying amount of investments due to an 18.3% depreciation of the yen against USD in the foreign currency exchange rate used for translations at FY22Q2-end. (\B) Accounting 18#22Breakdown of Goodwill/Intangible Assets B/S Item Goodwill Main intangible assets Arm SBKK LINE ZOZO Technologies Main b/d Main items Main b/d Arm Customer relationships ZOZO LINE Arm Trademarks Management contracts Mar 2022 4,897.9 2,898.1 907.5 630.6 212.9 357.7 357.7 628.6 290.6 217.5 93.3 543.9 28.2 Sep 2022 5,459.2 3,429.0 907.5 630.6 212.9 398.3 398.3 629.8 284.1 210.8 102.9 544.1 22.2 Change Amorti- Changes in zation FX rate -22.9 -6.5 -6.7 -6.8 +530.9 +63.5 T +16.5 Others I T Outline = SoftBank Amortized at straight-line method for 8-20 years Group (\B) Amortized at straight-line method for 18-25 years Amortized at straight-line method for 12-18 years Amortized at straight-line method for 13 years Fortress 28.2 22.2 -10.1 +4.0 Amortized at straight-line method for 5-10 years * Other than Arm, the amounts of goodwill recognized at the date of acquisition by SBG. They do not include goodwill recognized as a result of M&A executed by the relevant subsidiaries after their acquisition dates. The goodwill of Arm represents the amount reallocated to Arm segment, as a result of the organizational change in FY20. Accounting 19#23Consolidated B/S Summary (IFRSs) - 2 (\ B) B/S item Current liabilities Non-current liabilities Main items Interest-bearing debt Lease liabilities Deposits for banking business Trade and other payables Derivative financial liabilities Other financial liabilities Income taxes payable Other current liabilities Interest-bearing debt Lease liabilities Third-party interests in SVF Derivative financial liabilities Other financial liabilities Deferred tax liabilities Other non-current liabilities Mar 2022 Total liabilities 12,381.5 7,328.9 240.2 1,331.4 1,968.9 119.6 554.8 183.4 620.3 23,455.4 14,128.6 625.9 5,640.5 174.0 129.8 2,436.0 212.6 1 35,836.9 2 1 Sep 2022 M 9,467.8 4,394.4 215.5 1,387.3 1,900.7 81.0 509.8 365.3 554.9 23,213.1 14,622.7 627.3 5,186.4 TH 58.0 59.3 Change -2,913.6 -2,934.4 -24.7 +55.9 -68.2 -38.6 -45.0 +181.9 -65.3 -242.3 +494.23 +1.4 -454.1 1 2 SBG = SoftBank Borrowings (current and non-current) -¥843.0B • Repaid borrowings under commitment lines: -$4.5B • Repaid entire senior loans: -¥325.2B (including ¥292.7B repaid before maturity) Corporate bonds (current and non-current) +¥68.3B Repurchased: foreign currency-denominated straight bonds with face values of $0.27B and €0.22B Redeemed upon maturity: foreign currency-denominated straight bonds with face values of $0.51B and €0.19B Wholly owned subsidiaries conducting fund procurement Borrowings (current and non-current) -¥710.4B • Fully repaid Alibaba margin loan: -$6.0B Repaid T-Mobile margin loan (borrowed in FY21): -$2.06B Increase by asset-backed finance using Arm shares: +$0.5B (net) -116.0 -70.5 -217.3 2,218.8 +50.8 263.4 32,681.0 -3,156.0 Note: For the breakdown of interest-bearing debt and lease liabilities by core company, see page 37 of FY22Q2 SBG Consolidated Financial Report. Financial liabilities relating to sale of shares by prepaid forward contracts (current and non-current) -¥1,282.7B Decreased due to the physical settlement of a portion of the prepaid forward contracts Group SoftBank Vision Funds segment Borrowings (current and non-current) +¥404.3B SVF1: Borrowings made through asset-backed finance: +$1.71B • Impact of the weaker yen: The carrying amount of borrowings increased due to an 18.3% depreciation of the yen against USD in FX rate used for translation at FY22Q2-end. Income taxes payable +¥181.9B Income taxes payable of ¥203.7B were recorded at a wholly owned subsidiary mainly due to the realization of derivative gain related to the early physical settlement of Alibaba prepaid forward contracts. Deferred tax liabilities related to prepaid forward contracts using Alibaba shares decreased due to a decrease of derivative financial assets and derivative financial liabilities. Accounting 20#24Consolidated B/S Summary (IFRSs) - 3 B/S item Equity Items Common stock Capital surplus Other equity instruments* Retained earnings Treasury stock Accumulated other comprehensive income Total equity attributable to owners of the parent Non-controlling interests Ratio of equity attributable to owners of the parent (equity ratio) Mar 2022 11,707.8 238.8 2,634.6 496.9 4,515.7 -406.4 2 2,496.2 9,975.7 1,732.1 21.0% 1 3 Sep 2022 13,519.6 238.8 2,653.8 496.9 4,331.6 -924.7 5,075.4 11,871.8 1,647.8 25.7% (\B) Change +1,811.8 +19.3 -184.1 -518.3 +2,579.2 +1,896.1 -84.3 +4.7% * USD-denominated undated subordinated notes issued by SBG in Jul 2017, which were classified as equity instruments in accordance with IFRSs. 1 Net loss attributable to owners of the parent: -¥129.1B =SoftBank 2 Shares repurchased under the total of up to ¥1 trillion authorized repurchase approved by the Board in Nov 2021: ¥523.1B (97,806,700 shares) 3 . Group Decrease due to the exclusion of Alibaba from equity method associates: -¥314.4B ¥2,647.1B increase in exchange differences from the translation of foreign operations due to the weaker yen (increase in exchange differences arising from translating foreign subsidiaries and associates into JPY mainly due to the weaker JPY against USD. See pages 22 and 23 for details) (Ref.) Foreign exchange loss recorded in consolidated P/L for FY22Q1-Q2: -¥1,095.4B (See page 16) Accounting 21#25Impact of the Weaker Yen on P/L & B/S (Illustration) P/L Foreign exchange gain (loss) Entities SBG stand-alone + Subsidiaries conducting fund procurement in Japan Foreign subsidiaries and associates whose functional currency is not JPY (e.g., SVF1/2, LatAm Funds) Components Foreign currency- denominated cash and cash equivalents/ Loans receivable (excl. investments) Foreign currency- denominated liabilities (borrowings/bonds) Net assets (positive) Foreign exchange gain (See page 23) Foreign exchange loss (See page 23) Change in fair values =SoftBank B/S Group Exchange differences from translation Exchange differences from translation (See page 21) Accounting 22#26Impact of the Weaker Yen in FY22Q1-Q2 Foreign exchange loss in consolidated P/L for FY22Q1-Q2: ¥1,095.4B SBG stand-alone: Foreign exchange loss of ¥1,605.1B related to foreign currency-denominated borrowings from Group companies, ¥197.2B related to foreign currency-denominated bonds (incl. hybrid bonds) (Ref.) Balance in SBG stand-alone Foreign currency-denominated liabilities (borrowings/bonds) (incl. borrowings from Group companies) Foreign currency-denominated cash and cash equivalents/ Loans receivable (excl. investments) Net (liabilities) (Ref.) Net assets of subsidiaries SVF1/2 and LatAm Funds (after deducting third-party interests & carrying amount of Arm shares) SBGC*2 (after deducting carrying amount of Arm shares) FY21-end FY22Q2-end Rate at FY21-end: ¥122.39/$ Rate at FY22Q2-end: ¥144.81/$ Arm $89.7B $70.3B $32.6B $30.9B ($18.2B cash and cash equivalents/ ($17.8B cash and cash equivalents/ $14.4B loans receivable) $13.1B loans receivable) $57.1B $39.4B Exchange differences from translation in consolidated B/S at FY22Q2-end: ¥5,094.9B (+¥2,647.1B from FY21-end) mainly related to investments in subsidiaries' shares and associates FY21-end FY22Q2-end Rate at FY21-end: ¥122.39/$ Rate at FY22Q2-end: ¥144.81/$ *1 Considering intercompany transactions on consolidation *2 SoftBank Group Capital Limited $71.2B ¥8,720.1B $35.0B ¥4,286.2B $28.3B ¥3,466.5B $48.9B ¥7,075.6B $32.5B ¥4,703.6B $28.6B ¥4,145.3B Change -$22.3B(A) -¥1,644.5B(B) SoftBank -$2.5B(A) +¥417.4B(B) +$0.3B(A) +¥678.8B(B) Exchange differences from translation in consolidated B/S ((B)-(A) x average rate for FY22Q1-Q2 ¥133.46/$))*¹ +¥1,299.8B Group +¥732.1B +¥622.9B Accounting 23#27Consolidated C/F Summary (IFRSs) FY21 FY22 Q1-Q2 Q1-Q2 C/F item C/F from operating +2,078.2 +555.5 -1,522.7 activities C/F from investing -1,956.7 +271.3 +2,228.0 activities C/F from financing activities +254.4 -578.3 Effect of FX rate changes Increase in cash and cash equivalents Opening balance 4,662.7 5,169.0 Closing balance 5,093.4 5,886.2 Change +54.7 +468.7 +430.6 +717.2 -832.8 Primary details for FY22Q1-Q2 Subtotal of cash flows from operating activities +875.8 -254.8 Income taxes paid +108.9 Income taxes refunded -173.8 +521.0 -336.7 +454.4 -342.7 Payments for acquisition of investments +10.2 Proceeds from sales/redemption of investments Payments for acquisition of investments by SVF Proceeds from sales of investments by SVF (B) C/F from operating activities: -¥1,522.7B yoy Decrease in SB Northstar's cash inflows: -¥1,674.5B Decrease in income taxes paid (cash outflows): +¥438.5B FY21Q1-Q2: Payment of corporate taxes on taxable income at SoftBank Group Japan Corporation in FY20, which included gains on sale of SBKK shares Purchase of property, plant and equipment, and intangible assets Proceeds in short-term interest- bearing debt, net +4,597.5 Proceeds from interest-bearing debt -3,955.9 Repayment of interest-bearing debt Distribution/repayment from -347.7 SVF to third-party investors -523.1 Purchase of treasury stock -36.2 Cash dividends paid -162.3 Cash dividends paid to non-controlling interests Reference The physical settlements of prepaid forward contracts of Alibaba shares are non-cash transactions. There is no impact on consolidated cash flows. • ● Proceeds from sales/redemption of investments: +¥521.0B • Sold T-Mobile shares to Deutsche Telekom due to Deutsche Telekom's partial exercise of call options: +¥309.7B (+$2.4B) ● Sold SoFi Technologies shares: +¥90.8B (+$0.65B) Payments for acquisition of investments by SVF: -¥336.7B — SoftBank ● SVF2 -¥298.2B (-$2.30B) • LatAm Funds -¥31.4B (-$0.24B) SVF1 -7.1B (-$0.06B) Proceeds from sales of investments by SVF: +¥454.4B SVF1 sold all of its shares in Uber and others, and portions of multiple investments for ¥371.2B ($2.82B) • SVF2 sold all of its shares in KE Holdings and others, and portions of multiple investments for ¥82.8B ($0.64B) ● Group Proceeds from interest-bearing debt: +¥4,597.5B (SBG) Short-term borrowings: +¥256.9B (Wholly owned subsidiaries conducting fund procurement) • Borrowing made through asset-backed finance using Arm shares: +¥180.7B (+$1.4B) . Procurement through Alibaba prepaid forward contracts: +¥2,443.5B (+$18.35B) (SVF) SVF1 borrowed through asset-backed finance: +¥580.7B (+$4.5B). Repayment of interest-bearing debt: -¥3,955.9B (SBG) • Repaid short-term borrowings: -¥793.9, entire senior loans : -¥325.2B (Wholly owned subsidiaries conducting fund procurement) • Fully repaid Alibaba margin loan : -¥797.8B (-$6.0B) • Repaid T-Mobile margin loan (made in FY21): -¥274.5B (-$2.06B) • Repaid asset-backed finance using Arm shares: -¥116.1B (-$0.9B) (SVF) • Repaid borrowings made through asset-backed finance: SVF1 -¥357.5B (-$2.77B), SVF2 -¥28.9B (-$0.22B) Accounting 24#28Co-investment Program to SVF2: Related Party Transactions Masayoshi Son*¹ SBG 100% SVF2 Listed investments as of Jun 23, 2021*2 (B) Distribution: $173M (Return of capital) Equity interests: 82.75% Preferred Equity SoftBank SVF2 LLC Private investments*3 as of Jun 23, 2021*² + New investments on or after Jun 24, 2021 Equity interests (third-party interests) FY22Q2-end: $- FY21-end: (\-) $2,207M (¥270.1B) Equity interests: 17.25% (A) Equity acquisition amount: $2,923M (i) Acquisition costs: $2,594M (committed capital: $2.6B) (ii) Adjustments etc.: $329M + Premium receivable: $91M (FY21-end: $50M) Balance of the receivables ((A) – (B)) FY22Q2-end: $2,841M (¥411.4B) FY21-end: $2,800M (¥342.7B) Group Notes: For details of the related party transaction, see pages 89-91 of FY22Q2 SBG Consolidated Financial Report. *1 Participation by management other than Masayoshi Son has not been determined as of Oct 31, 2022, but is expected in the future. *2 Jun 23, 2021 is the date on which the Co-investment Program was conditionally approved by the Board of Directors of SBG. *3 Excludes portfolios that were listed or announced to be listed as of Jun 23, 2021, and portfolios that were approved by the Board of Directors of SBG to be excluded from the Co-investment Program. Accounting 25#29Income Taxes Paid on a Consolidated Basis (Net) Consolidated ● Japan SBG and holding companies Operating companies, mainly SBKK and Yahoo Japan Overseas FY19 636.3 575.2 324.7 250.5 61.1 FY20 445.5 310.5 35.7 274.8 135.0 = SoftBank FY21 Group (\ B) 589.3 551.2 200.0 351.2 38.1 Notes: ● • The amounts are the net amount of tax payments and tax refunds. Income taxes paid on a consolidated basis matches the net amount of "income taxes paid" and "income taxes refunded" on the consolidated statement of cash flows. Accounting 26#30● ● Characteristics of SoftBank Group's Taxation Income on the consolidated P/L is not directly connected to SBG's non-consolidated tax payment amount. The majority of SBG's non- consolidated operating revenue is dividends received from affiliates, a significant portion of which is non-taxable. Taxes related to SVF investment business are compliant with the tax systems of the relevant jurisdictions, including Japan. See Initiatives for Taxation on SBG's website for details. Calculation of non- consolidated income before income tax in corporate accounting Illustration for calculation of SBG's non-consolidated income before income tax and income taxes Gain on sale of shares, etc. Dividends received, etc. Expenses/ losses Income before income tax Calculation of taxable income and income taxes Tax adjust- ments =SoftBank Deduct dividends received Taxable income Group x tax rate = Income taxes To avoid double taxation, a significant portion is non-taxable Note: Loss carryforward, if any, can be used to partially reduce taxable income Accounting 27