May 21, 2024
To whom it may concern:
Company nameSansan, Inc.

Representative

Chikahiro Terada,
Representative Director & CEO(Code: 4443 TSE Prime Market)

Contact

Muneyuki Hashimoto,Director, Executive Officer, CFO

Tel+81-3-6758-0033

Notification of Bill One Service Domain Expansion
Sansan, Inc. (“the Company”) today announced that it will significantly expand the service domains of Bill
One, its cloud-based invoice management solution.
Since its launch in May 2020, Bill One has grown to a service with ARR of more than ¥6.8 billion as ofFebruary 2024, and the Company is advancing a variety of initiatives for further expansion. In the same
way as Bill One Receive, which has been provided up to now, Bill One Issue will undergo functional
improvements while Bill One Expense will be newly launched, enabling the acceleration of corporatemonthly settlements by streamlining previously analog operations. Thus able to expect that these
services will gain in popularity and become more widespread, the Company is of the belief that they willcontribute to the growth of the Bill One business. For more details, please refer to the attacheddocuments.
Of note, this measure’s effect on the Group’s business performance will be realized over the medium-tolong term. The impact on consolidated results in the current fiscal year will be minimal.
Attached materials
・Press release: “Bill One evolves into Model 4, expanding beyond invoice receipt and into issuing andexpense reimbursement. Also establishing bank agency business, aiming for real-time monthly accountclosing”
・Presentation material: About Bill One Model 41

Press release
May 21, 2024
FOR IMMEDIATE RELEASE TO ALL MEDIABill One evolves into Model 4, expanding beyond invoicereceipt and into issuing and expense reimbursement
Also establishing bank agency business, aiming for real-time monthly
account closing
Sansan Inc., a provider of digital transformation (DX) services that reshape how we work, announces a major
expansion of the scope of its Bill One cloud-based invoice management solutions to further accelerate monthly
closing.
To date, Bill One has centered on features that solve issues related to receiving invoices. Now, to further strengthen
the product and resolve even more challenges, this solution is expanding into invoice issuing and expensereimbursement. The overall aim is to streamline analog operations in each of these areas and make monthly closingof accounts a real-time process.

Background
The Bill One solution enables online receipt and digitization of all types of invoices. Within four years of its May 2020
launch, it has surpassed ¥6.8 billion yen in annual recurring revenue (ARR)*1 and has held the top Japanese market
share in cloud invoice receipt services for two consecutive years.*2Bill One has undergone two major remodels thus far. The current product, focused on functions for resolving invoicereceipt-related issues, is therefore the third model. Now, to further accelerate the monthly closing of company
accounts, Model 4 expands Bill One’s scope to include payment reconciliation and expense reimbursement in theinvoicing issuing process.
Benefits of Bill One Model 4
Bill One will now encompass three services that further streamline analog operations and accelerate monthly accountsettlement for businesses.
Bill One Receive: Receive, digitize & centralize your invoices. Fast monthly closing.

This invoice management service receives and digitizes all invoices online, including paper invoices received bypostal mail and PDF invoices sent as email attachments. By centrally managing invoices in the cloud, it digitizes
analog and inefficient invoicing processes. It is also compatible with Japan’s Invoicing System and Electronic
Bookkeeping Act and streamlines the monthly closing process to speed up managemental decision-making.
Bill One Issue: Issue invoices and reconcile automatically for fast monthly closing
This service streamlines invoice issuance and post-issuance reconciliation operations to accelerate monthly closing.
In addition to the existing functionality for issuing invoices online to a wide range of transaction partners, the new Bill
One Bank automates payment reconciliation work and automatically creates journal entry data. Bill One Bank, the firstNEOBANK®*3 for corporate clients, was realized through a partnership with SBI Sumishin Net Bank, Ltd. Through thisservice,*4 Sansan, Inc., as a banking agent, serves as an intermediary for transactions.
Bill One Expense: Eliminate reimbursed expenses for fast monthly closing
This service eliminates the need for employee reimbursement, enabling a new, unprecedented type of system. Thesystem not only enables online processing of expense reimbursements, it also solves accounting departments'
challenges by automating the reconciliation/matching of statements and reminders to submit vouchers that occur
when paying expenses with corporate credit cards. All employee users also will be able to use the Bill One Business
Card corporate credit card for expense payments, thereby reducing the very need for reimbursement. This service isscheduled to start rolling out from around June 2024.
The need to resolve even more issues related to monthly closing
Katsuya Ohnishi, Executive Officer and General Manager of the Sansan Bill One Division comments:“Bill One, which launched in May 2020, has been focused on accelerating the monthly closing of company accounts
and has focused on receiving invoices, a common bottleneck in accounting processes. Indeed, many users have seen
their closing speed up through this service. However, we felt that there were still factors slowing down account closing
in other business areas.
“Therefore, along with invoice receipt, we decided to greatly enhance the invoicing functionality we have been
providing and further expand our services into expense reimbursement. In invoice issuing, we have acquired a newbank agency license and will provide our own corporate neobank, called Bill One Bank, to automate payment
reconciliation. In expense reimbursement, we are resolving another common challenge by eliminating reimbursements
themselves. By digitizing analog operations in each of these areas, we’re aiming to make the monthly account closinga real-time process.
“This expansion of the service will make Bill One even more useful as business infrastructure in accounting. We lookforward to the continued usage and advancement of Bill One.”*1: Sansan, Inc., Financial Results for the FY2023 Q3 (released April 11, 2024)
https://ir.corp-sansan.com/en/ir/library/presentation.html*2: Sansan, Inc., Bill One Earns No. 1 Market Share in Rapidly Growing Invoicing Receipt Service Market for Second Consecutive Year (releasedDecember 8, 2023) (in Japanese)
https://jp.corp-sansan.com/news/2023/1208.html*3: NEOBANK® is a registered trademark (no. 5953666) of SBI Sumishin Net Bank.
*4: Using an account opened at SBI Sumishin Net Bank's Bill One Branch (Bill One Bank) as the parent account, a virtual account is issued
exclusively for payments, realizing automated reconciliation operations.

Bank agency business overview
Affiliation: SBI Sumishin Net Bank, Ltd.
Agent: Sansan, Inc.
License number: Director-General of Kanto Local Finance Bureau (Banking) No. 480
Business activities: Acceptance of deposits, brokerage of contracts for foreign exchange transactions
Business hours: Monday through Friday, 10 a.m. to 6 p.m. JST, excluding national holidays
About Sansan, Inc.
With the mission of "creating innovation through encounters," we provide digital transformation (DX) solutions, inJapan and overseas, that reshape how we work. Foremost are the Sansan sales DX solution, Eight business cardapp, Bill One cloud-based invoice management solution, and Contract One contract DX solution.
Established: June 11, 2007
Website: https://www.corp-sansan.com
Head office: Aoyama Oval Building 13F, 5-52-2 Jingumae, Shibuya-ku, Tokyo, 150-0001, Japan
Capital: 6,748 million yen (as of February 29, 2024)

Business: Planning, development, and sales of cloud-based solutions that promote digital transformation and reshape
how we work
Sansan: https://sansan.com
Eight: https://8card.net/en/
Bill One: https://global.bill-one.com/en/
Contract One: https://contract-one.com
Contact for press inquiries
Sansan, Inc. Corporate Communication Department
Email: pr@sansan.com
Tel.: +81 (0)3 6316 3121
The main data for corporate and product-related materials can be downloaded from:https://jp.corp-sansan.com/inquiry/presskit

About Bill One Model 4© Sansan, Inc.

Receive, digitize & centralize your invoices. Fast monthly closing.

© Sansan, Inc.

Bill One Model 1
Accounting scans paper invoices and digitizes necessary items forpayment
Accountant uploads
invoices

Digitize with Bill One to create dataneeded for payment

Payment
data

Accountant© Sansan, Inc.

Bill One Model 2
Onsite personnel upload invoices, journal entry functionality added

Onsite personnel uploads invoices

Digitize and more efficiently journalizewith Bill One

Payment
data

Journalentry
Onsitepersonnel© Sansan, Inc.

Bill One Model 3
Bill One receives and digitizes all invoices on client’s behalf forcentralized management
Receive all invoices online

Digitize and centralize with Bill One

Payment
data

Journalentry© Sansan, Inc.

Centralized management of invoiceswith no burden on the issuer
Companies issuing invoices
UploadBill One user companies

One-stop receipt

Emailattachment

99.9％* accuratedigitization

PostalmailCloud-based centralizedmanagement

Proxy receipt
Proxy scanning*Digitization accuracy when conditions specified by Sansan, Inc., are met.
© Sansan, Inc.

Bill One’s growth
ARR ¥6.8 billion ARR in 4 years since release, 2,600 subscribing companies
Bill One paid subscriptions andmonthly recurring sales per paid subscription

Bill One MRR(millions of yen)

Paid subscriptions(subscriptions)

Monthly recurring sales per paid subscription

570
ARRFeb. 2024

MRR
YoY

Subscriptions
YoY494¥6,844 million Up 149.0%

2,607
2,304

1,952

Up 1005% Up 23.9%

404

1,581

316

¥218,000

1,300
1,084

229
930

177
9032Aug.

Nov.

Feb.

May

¥176,000

455
280

58

FY2021© Sansan, Inc.

116

643

140776

Aug.

Nov.

Feb.

FY2022

MayAug.

Nov.

FY2023

Feb.

EndQ1

¥140,000

EndQ2

EndQ3

FY2021

EndQ4

EndQ1

EndQ2

EndQ3

FY2022

EndQ4

EndQ1

EndQ2

EndQ3

FY2023

Bill One’s invoice network¥35 trillion* value of invoices transacted on Bill One networkInvoice network
Sendingcompanies

Receivingcompanies

Digital interactions speed up
invoice transactions
User-friendly DX promotes
digitization for senders

Automate routine tasks
using connection
information*Annualized based on Feb. 2024 results© Sansan, Inc.

Model 4© Sansan, Inc.

Model 4© Sansan, Inc.

Invoicereceipt

Invoiceissuing

Expensereimbursement

Receive, digitize & centralize yourinvoices. Fast monthly closing.

Issue invoices and reconcile
automatically for fast monthly closing

Eliminate reimbursed expenses forfast monthly closing

Bill One
Receive

Bill One
IssueBill OneExpenseModel 4© Sansan, Inc.

Invoicereceipt

Invoiceissuing

Expensereimbursement

Receive, digitize & centralize yourinvoices. Fast monthly closing.

Issue invoices and reconcile
automatically for fast monthly closing

Eliminate reimbursed expenses forfast monthly closing

Bill One
Receive

Bill One
Issue

Bill One
ExpenseSolving the biggest
challenges in invoicing© Sansan, Inc.

Payment reconciliation slows down monthly closing
About 70% of accountants haveproblems with reconciling payments
Q: Do you have problems with reconciling payments?

NoYes

N=690, Single answer© Sansan, Inc.

Accounting issues with payment reconciliation
Matching invoice namewith payee’s name
Invoicing vendor© Sansan, Inc.

Confirming payment when
multiple invoices are combined

Account payeeSansan⇄

Sansan, Inc.

Yonyon⇄Yonyon, Co. Ltd.

GOGO？

Ichiro TanakaGogo？

GOGO LLC

Div. A

Div. B
Div. CWorkflow from invoicing to reconciliation
Sales finalized

Invoicing

Issue invoices

Payment
confirmation

Reconcile

Accounting
process

Electronic
Bank account
Email¥100,000

Electronic

Accounting system

Invoice
Paper

Payment data

Enclose, seal, send

Payment checked andreconciled with invoice© Sansan, Inc.

Complicated operations due to separate
billing and payment information© Sansan, Inc.

Simply issue invoices in Bill One andcomplete the entire process at once

Email

Sales management
Generation of billing data

Invoicing
services© Sansan, Inc.

Aggregation of accounting
information

Postal mailAuto-reconcile

Journaling

Bill One Bank is a service in which Sansan, Inc.,
acts as a bank agent for SBI Sumishin Net Bank
to mediate transactions.
The service automates the debit and credit
process by issuing a virtual account exclusivelyfor deposits using an account (Bill One Bank)
opened at the Bill One branch of SBI Sumishin
Net Bank as the parent account.

© Sansan, Inc.

Invoice issuing workflow
Sales finalized

Invoicing

Issue invoices

Payment
confirmation

Reconcile

Accounting
process

Electronic
Bank account
Email¥100,000

Electronic

Automation
Invoice

Paper

Enclose, seal, send

Payment checked andreconciled with invoice© Sansan, Inc.

Payment data

Accounting system

Open a Bill One Bank account© Sansan, Inc.

Create and issue invoices in Bill One
Issuer info

In-house info

Invoice amt.,
breakdown

Payment-related
infoPayee acct.

Notes

Details

Flexible customization at no additional cost
© Sansan, Inc.

Unique virtual accounts are assigned to each company andaccount information is automatically reflected on invoices
Issuer, contact person

Bank accountYonyon, Inc.
Ed Tanaka

SBI Sumishin Net Bank
Sakura Branch, regular, 111111

GOGO, Inc.
Gil Yamada

SBI Sumishin Net Bank
Sakura Branch, regular, 222222

Rokuroku, Inc.
Jay Sato

SBI Sumishin Net Bank
Sakura Branch, regular, 333333

InvoiceRokuroku, Inc

Auto-reflect

Invoicedamount¥80,000

Invoice date

5/21/2024Bank accountBilling statement

ROKUROKU LLC
John Suzuki© Sansan, Inc.

SBI Sumishin Net Bank
Sakura Branch, regular, 333333

SBI Sumishin Net Bank
Sakura Branch, regular,333333

Send invoices in all issuing formats
MethodIssuer, person in charge

Invoiced amount

EmailYonyon, Inc.
Ed Tanaka¥100,000

EmailGOGO, Inc.
Gil Yamada¥50,000

Postal mail

Rokuroku, Inc.
Jay Sato¥80,000

Postal mail

ROKUROKU LLC
John Suzuki¥300,000

Mainly electronic, but can also request postal mail agent© Sansan, Inc.

Automatic linkage of invoice and account information
to show if amounts match
DateVendor

4/12

Yonyon, Inc.

Payment¥100,000

4/22
GOGO, Inc.

© Sansan, Inc.

Rokuroku, Inc.

Amount5/31¥100,000

5/31¥50,000¥130,000

4/22

4/25

Invoicedate¥299,700

Difference

¥0

¥0
5/31

¥80,000

6/30¥300,000− ¥300Automatic identification of the depositing vendor
even in the case of a combined deposit
Date

Vendor

4/12

Yonyon, Inc.

Payment¥100,000

4/22
GOGO, Inc.

© Sansan, Inc.

Rokuroku, Inc.

Amount5/31¥100,000

5/31¥50,000¥130,000

4/22

4/25

Invoicedate¥299,700

Difference¥0¥05/31¥80,000

6/30¥300,000− ¥300

Resolve issues related to payment reconciliation
Reconciled

Streamline complex
operations© Sansan, Inc.

Easily handled byanyone

UnpaidReal-time payment
confirmation

Faster monthly closing fromissuing invoices© Sansan, Inc.

Model 4© Sansan, Inc.

Invoicereceipt

Invoiceissuing

Expensereimbursement

Receive, digitize & centralize yourinvoices. Fast monthly closing.

Issue invoices and reconcile
automatically for fast monthly closing

Eliminate reimbursed expenses forfast monthly closing

Bill OneReceive

Bill OneIssue

Bill One
ExpenseEliminate expense
reimbursement© Sansan, Inc.

Challenges in expense reimbursement

Aaverage 1,500 per company per month© Sansan, Inc.

Expense reimbursement workflow
Employee

Accounting
Submit receipt at later dateDinnermeeting

Refund advanceTemporary reimbursement© Sansan, Inc.

Accounting issues with expense reimbursement© Sansan, Inc.

Invoice System

Concentration of operations

Invoice System complianceTime-consuming to check if
qualified invoice requirements
are metAt month end and month start,
too busy processing receipts
to work on monthly closing

Burden on employees from expense reimbursement

Time lag until advanced amountis credited

Complicated processing forreimbursement application

Invoicing System has increased
time and effort required for
confirmation© Sansan, Inc.

Employee abuse of expenses is an issue
Over 1 in 3 have seen or heard rumors of expense abuse
Q: Have you seen or heard rumors of employee’s expense abuse in your company?

OthersYes
No

N=975, Single answer© Sansan, Inc.

Expense reimbursement likenever before© Sansan, Inc.

New expense reimbursement
centered on Bill One Business Card

Virtual card

© Sansan, Inc.

Physical card

Bill One’s advantages

Bill One Business Card

Complete your work online

99.9％* accurate digitization

Auto-assessment of invoice
requirements*Digitization accuracy when conditions specified by Sansan, Inc., are met.
© Sansan, Inc.

×

Performing expense reimbursement on Bill One
Issue Bill One Business Card to all employees

Director, Sales
Division

General Manager,
R&D Department

Company© Sansan, Inc.

General Employee,
Administrative
DivisionPerforming expense reimbursement on Bill One

Voucher upload
requestUpload your receipts andinvoices

Date used: 2024/05/21
User: Yonyon, Inc.

Information at time of use

Amount: ¥8,000
Date used: 2024/05/21
User: Yonyon, Inc.
Member: Taro Yamada
Card: Taro_Yamada_forYonyon

Upload vouchers

Amount: ¥8,000
UploadUpload© Sansan, Inc.

Performing expense reimbursement on Bill One

Voucher upload request
Upload your receipts andinvoices
Date used: 2024/05/21
User: Yonyon, Inc.
Amount: ¥8,000

Check
Color

OK

Resolution

OK

Take photo
Upload© Sansan, Inc.

NextPerforming expense reimbursement on Bill One
Digitize uploaded vouchers and automatically matchthem to usage statements to determine if they meetrequirements for qualified invoices© Sansan, Inc.

Documentation

Date used

MemberAmountYonyonECshop,Inc.

Hector Vazquez¥120,000

Done

Qualified

Two-hanMary Worth¥330,000

Done

Confirmation needed

33 Pub

Al Suzuki¥33,000

Done

QualifiedPerforming expense reimbursement on Bill One
If only reimbursement can be handled, it can also be entered in Bill One

Enter application details
Purchase dateyyyy/mm/dd
User

Yonyon, Inc.

© Sansan, Inc.

AmountCurrency¥33,000

JPYResolve issues related to expense reimbursement

Streamline accounting
デジタル化によるworkand distributework 業務効率化
at month end andmonth start© Sansan, Inc.

Streamline
companyインボイス制度、
wide expense
電子帳簿保存法に対応
reimbursement

Reduce risk of
不正利用リスクを低減
unauthorized use byemployees

Eliminate expense
reimbursement and achieve
faster monthly closing© Sansan, Inc.

Model 4

Invoicereceipt© Sansan, Inc.

Invoiceissuing

Expensereimbursement

Payment reconciliation
available from Aug. 2024

From around June 2024

Number of days for monthly closing~7 days/month on average© Sansan, Inc.

Over half of accounting staff reported

unnecessary work in monthly closing© Sansan, Inc.

月
次決算を加速する
Fastmonthlyclosing.

© Sansan, Inc.

Model 4© Sansan, Inc.

Invoicereceipt

Invoiceissuing

Expensereimbursement

Receive, digitize & centralize yourinvoices. Fast monthly closing.

Issue invoices and reconcile
automatically for fast monthly closing

Eliminate reimbursed expenses forfast monthly closing

Bill One
Receive

Bill One
Issue

Bill One
ExpenseReal-time monthly closing© Sansan, Inc.

© Sansan, Inc.