Investor Presentaiton

II. FY22 Targets & Status of the Mid-term Plan FY22 Targets Unit: JPY (¥) billion (bn) %, YoY = Year over year comparison Net Profit is "Profit for the period attributable to owners of the parent" Revenue & profit to increase by executing & enhancing growth strategy Revenues ¥250.0 bn +10.5% Profit before tax ¥26.3 bn +8.8% Operating Profit ¥27.2 bn +15.5% Net Profit ¥17.5 bn +11.7% Mobile DPS to increase with profit growth FY21 results ¥48.00 (27.7%) +\10.50 (%) payout ratio FY22 forecast ¥58.50 (30.2%) FY21 adjusted payout ratio is around 30%, which is calculated by deducting temporary and non-cash transaction Network Services (excl. mobile) Accelerate growth with large-scale NW replacement projects in addition to ongoing & continuous revenue accumulation Further strengthen competitive advantage of integrating various services such as Internet connectivity, Security, & WAN Enhancement of Company Foundation Enhance senior management to accelerate long term growth Level-up volume & quality of recruitment & human capital development Expect further business expansion by seeking M&A opportunities etc. Status of the Mid-term Plan (FY21-23) Generate advanced loT flagship projects Develop technology for 5G SA Expand market share by timely upgrading consumer plans Amount of expected revenue decrease to be smaller than FY21 CAPEX Construct Shiroi data center's 2nd site all at once Others such as network expansion related CAPEX to be usual volume SI Differentiate with comprehensiveness by providing services & SI Promote enterprise Cloud migration with GIO P2 Gen.2 Construction revenue to largely increase with large-scale & development projects in addition to NW integration demands following FY21 trend DeCurret HLD, an equity method investee Execute service & business development for digital currency platform to be launched in the latter half of FY23 Stronger-than-expected profit growth led to FY23 operating margin upward revision FY23 Operating Margin Target FY21 initial target FY21 revised target FY21 results Operating profit (bn) Operating margin 9.6% 10.4% FY22 target 10.9% FY23 plan 11.5% 7.7% Over 9% Over 10% 11.5% Revenues (bn) 17.5 22.0 23.5 27.2 226.0 228.5 226.3 250.0 270.0 Initial target (announced in May 2021) Previous target (announced in Nov. 2021) 5G SA (Stand Alone) is a way of communications in which core network, data communication, control functions and others are all comprised by 5G technology O Internet Initiative Japan Inc. Current target (announced in May 2022) 3

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