Slides
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J.P. Morgan Healthcare Conference 2026 Jan. 12, 2026 Hikaru Samejima Chief Executive Officer Terumo Corporation
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©TERUMO CORPORATION 2 Forward-Looking Statements and Use of Document Among the information that Terumo discloses, the forward-looking statements including financial projections are based upon our assumptions using information available to us at the time and are not intended to be guarantees of future events or performance. Accordingly, it should be noted that actual results may differ from those forecasts or projections due to various factors. Factors affecting to actual results include, but are not limited to, changes in economic conditions surrounding Terumo, fluctuations of foreign exchange rates, and state of competition. Information about products (including products currently in development) which is included in this material is not intended to constitute an advertisement or medical advice.
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©TERUMO CORPORATION 3 Precision built over the decades
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©TERUMO CORPORATION 4 60%20% 20% Terumo at a Glance No. 1 Medtech Company in Japan Revenue USD 6.9 bn TBCT Company TMCS Company C&V Company FY24 ■ Overseas Revenue Ratio: 79% ■ Business in over 160 countries and regions ■ Number of products More than 52,000 ■ Number of R&D bases Japan 6 Outside of Japan 16 ■ Number of production bases Japan 7 Outside of Japan 22 Terumo Interventional Systems Terumo Neuro Terumo Cardiovascular Terumo Aortic Hospital Care Solutions Life Care Solutions Pharmaceutical Solutions 1USD=150JPY
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©TERUMO CORPORATION 5 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 FY98 FY00 FY02 FY04 FY06 FY08 FY10 FY12 FY14 FY16 FY18 FY20 FY22 FY24 Track Record of Robust Growth M&A 36% of sales, CAGR (FY99-24) 16.1% Essen (China) Sales (M USD) CaridianBCT (US) MicroVention (US) Sequent (US) Bolton (US) Angio-Seal (US) Organic CAGR (FY99-24) 5.8% Vascutek (UK) Cardiovascular Div. of 3M (US) Adjusted OP margin +320bps over the last 3 years 16.8% 17.0% 19.6% 20.0% 12.0% 14.0% 16.0% 18.0% 20.0% 22.0% FY22 FY23 FY24 FY25E FY26E Revenue AOP%
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©TERUMO CORPORATION 6 Terumo’s Performance Expectations : FY25-26 FY25 Guidance : Progressing as planned Revenue growth of +8% Operating Profit expansion of +24% to reach 17.8%* OP margin (before adjustment) Executed strategic M&As to drive growth over the long term FY26 Outlook : Achieving “Growth Strategy 26” Continue high-single-digit revenue growth OP margin expected to reach 20%* through double-digit growth Key Enablers Strong business drivers across all the three companies Margin improvement through innovative product expansion and strategic pricing policy *Excluding costs related to M&A activities in FY25
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©TERUMO CORPORATION 7 Only Major Provider In the global market World-Leading Products Across All Businesses Source: Terumo research or third-party reports 1. Financial figures are FY24 before adjustments. 2. Third party report. One of five major players as of 2023. 3. Third party report. Based on the number of peristaltic finger type devices as of 2020. 4. Third party report as of 2014. Therapeutic Solutions, Cell Collection Blood Component Collection System Top Tierglobal market share4 Top Tier global market share4 global market share CDMO Business Infusion Pump No.1 domestic market share3 Domestic Unique Player TMCS Company FY24 Revenue: USD 1.4 bn1 TBCT Company FY24 Revenue: USD 1.3 bn1 Introducer Sheath Guidewire Intrasaccular Device Oxygenator Top Tier global market share2 C&V Company FY24 Revenue: USD 4.2 bn1 No.1
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©TERUMO CORPORATION 8 FY24 Revenue of Interventional Products USD 3.5 bn TLA* Therapeutic ■ CAGR (FY15-24) : 8% ■ Market Share (FY24) : over 50% *Therapeutic Lesion Access ■ Key Strengths Core technology Manufacturing Solution Transforming products considered as “commodity” into “High value-added products” • Hydrophilic coating • Precision finishing in every detail • Price competitiveness through economies of scale • Consistent quality • Radial Approach • Entry site management from access to closure • Simulation-based learning Drug Eluting Stent Vascular embolization coil Therapeutic guidewire /microcatheter Balloon catheter Sheath Diagnostic guidewire /catheter Closure device Access C&V : Distinctive Portfolio Driving a Unique Market Position
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©TERUMO CORPORATION 9 C&V : Cutting-Edge Products Drive Revenue Growth DSS (Dual Sensor System) WEB Embolization System IVUS and OFDI images using one catheter ■ Further expand top share in Japan, by training and clinical evidence ■ Phased entry to U.S. with further geographical expansion Innovative imaging system for optimal treatment strategies Target launch : From FY26 onward More than triple imaging revenue in FY31 No.1 market share Intrasaccular market CAGR (FY24-31): over 10% First-in-class intrasaccular technology for bifurcated neuro aneurysm Unique MicroBraid , disrupting flow into the aneurysm ■ Further expand top share, by line-extension and robust clinical evidence Future growth outlook Future growth outlook ■ Continuous strong momentum in Japan and China
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©TERUMO CORPORATION 10 Container & molding Filling & sterilization Assembly & packaging Development Designing and manufacturing devices that maximize the benefits of pharmaceuticals Development and offering of drug delivery devices that match drug characteristics Device manufacturing/ filling CDMO process Drug discovery Nonclinical studies Formulation development Clinical studies Approval Manufacture Sales Report on findings TMCS : CDMO – “One-Stop Solution” for Pharmaceutical Companies Handle everything from device development and manufacturing to fill & finish service to drive innovation in drug delivery devices
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©TERUMO CORPORATION 11 TMCS : CDMO Business Targeting $1 Billion in Revenue FY17 FY24 FY30s 100 300 1,000 (M USD) Pharmaceutical Solutions Segment Revenue Acceleration through new product launch and global expansion Three revenue growth drivers Already ensured capacity to support growth • Existing CDMO products • Alzheimer’s disease drug Auto-Injector launch • Unlocking global CDMO opportunities • Kofu Factory new building completed • Leverkusen plant acquired +17% CAGR Kofu Factory New Building
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©TERUMO CORPORATION 12 TBCT : Source Plasma Collection Driving Revenue Growth More efficient and comfortable plasma collection system 30% reduction in average donation time ~200 mL of blood (lower extracorporeal volume) TAM : $870M (US, 2025) CAGR : +7% • Completed rollout for existing customers • Maximizing recurring revenue through disposables • Sole provider to CSL Plasma collection centers in US, one of the industry leaders • Further opportunities to gain market share • Leveraging our differentiated technologies Collection volume increase Personalized collection with iNomi Rika Plasma Donation System Achieving rapid growth Future growth outlook Integrated ecosystem Efficient operation through data services and program support Source: MRB Global Blood-Plasma Collections Report 2021, MRB Global Plasma Fractionation landscape through 2023, MRB US Plasma Collections Benchmarking and Forecast to 2032 Report, International Blood/Plasma News Reports
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©TERUMO CORPORATION 13 Terumo’s Approach to Future Growth Organic Growth Exponential Growth Continuous Growth M&A opportunities
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©TERUMO CORPORATION 14 OrganOx : Leading Innovation in Liver and Kidney Transplantation Increased transplants from DCD donors Improved utilization of marginal organs Lower discard rates of donated organs Better quality of life for healthcare professionals kidney liver heart other Kidney + Liver approx. 90% More than 150,000 /year Source : Terumo Number of transplants by organ 2.5x more kidney transplants than liver 30% of donated kidneys are not utilized today Source : OPTN/SRTR 2022 Annual Data Report: Deceased Organ Donation ~+60% sales growth in CY2025 $0.5B $1B metra Kmetra L 2024 TAM in US 2030 Liver Kidney Normothermic Machine Perfusion to maximize organ supply *Source : Global access to transplantation
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©TERUMO CORPORATION 15 OrganOx : Perfusion Technology Pipeline beyond Transplantation Cross-circulation system metra Extracorporeal Liver Cross-Circulation (ELC) Supplementing liver function such as detoxification and metabolic regulation by circulating the patient's blood through an auxiliary liver outside the body Patient Life support & treatment for patients with liver failure Drug Discovery Support for Pharmaceutical Companies Accelerate the drug discovery process by human liver perfusion and clinical trials Boosting the success rate of new drug discovery over 33,000/year Number of patients with liver failure, entering the hospital with < 50% survival rate (US) over 120,000/year Number of ALF/ACLF* patients (global) *Acute liver failure/Acute-on-chronic liver failure
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©TERUMO CORPORATION 16 Unwavering commitment to patients
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©TERUMO CORPORATION 17 The Road Ahead beyond “Growth Strategy 26” Accelerating innovation, sustaining our strong momentum, and evolving into a Global Top-tier Medtech Leader Maintain robust sales growth Margin growth outpacing sales growth Lead innovation via R&D and M&A