Financial Results Presentation Q2

Financial Results Presentation Material 3 Mercari JP-Cost Structure Against Net Sales No major changes QoQ. Advertising expense ratio increased YoY due to aggressive investment in Q2 to acquire new users for mid- to long-term growth. ■Adjusted operating income 18% ■Promotion 32% 30% 29% 26% 26% 32% 34% 33% 42% 24% Other SG&A 18% 25% 26% 19% 22% 22% 22% 21% 12% 13% 11% Commission fees 11% 11% 10% 15% 8% 11% 9% 9% 10% 14% 13% 13% 13% 13% 13% 14% 13% 13% 23% 20% 17% 17% 15% 15% 14% 14% 15% 14% 9% 7% 7% 8% 8% 8% 8% 9% 9% 9% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY2020.6 FY2021.6 FY2022.6 1. Outsourcing expenses, rent, and taxes & dues mercari Personnel expenses (cost of sales and SG&A) Other cost of sales 17

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