Consolidated Financial Result Briefing
for six months ended September 30, 2023

CYBERDYNE, Inc.
November 14, 2023

Table of contents
1

Consolidated

2

Outline of the business3【Medical】Cybernics Treatment

４【Healthcare】Neuro HALFIT

５

Strategy for growth６

SDGs for Society5.0/5.1

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Consolidated financial statements

3

Highlight of business performance during the second quarter
Increase of consolidated revenue: YoY ＋561M (+36%)✅ Increase of income from rental outside Japan (+128M)✅ Increase of sales from treatment service by U.S. RISE Group (+214M)✅ Acquisition of German mobility company LeyLine (＋232M)
Expansion of operating loss: YoY -874M✅ Initial cost following business expansion of two subsidiaries (U.S. and German) that thecompany acquired (-329M)✅ Temporary expenses from impairment loss of goodwill in Japanese subsidiary (-660M)
Other✅ Income from startup related investment securities (976M)✅ Foreign exchange gain from depreciation of yen（189M）
4

Consolidated nancial results (IFRS)
Year-on-year comparison for the six months ended September 31, 2023
Revenue: 2,104M (+36% YoY)
Operating pro t: -1,317M *Without temp expenses -657M
Pro t before tax: -180M *without temp expenses 480M

Revenue(Gross profit)

FY2022

FY2023(Q1&Q2)(Q1&Q2)

1,542
(925)

2,104
(1,144)+/+561(+219)+/-%*1+36.4％(+23.7%)-442-1,317-874*1 Increase of revenue (561M) (YoY)
Rental +81M (Increase of rental outside Japan)
Treatment service +209M (from U.S. Rise Group)
New business +271M (Acquisition of German mobility company)*２ SG&A (425M) (YoY)*２ *3
Operating profit(Unit: Millions of yen)

☆ SG&A of two acquired foreign subsidiaries +370M

ー*３ Other expenses
Temp expenses from impairment loss of goodwill +660M*4
Profit before tax

373

*5

-180

-553

ー

*４ Investment securities 976M (Net) *638M in the previous quarter
Financial income/expenses 207M, Gains related to CEJ Fund 770M

*6
Profit attributable toowner of the parent

268*５ Other Foreign exchange gain 189M (+20M YoY)

-603

-871

ー
*６ Income taxes 519M Tax effect on gain on valuation 513M

EBITDA

-301

-406

-105

ー

☆Transferred a portion of other SG&A expenses in FY2022 Q2 to the costof sales due to a review of the cost of sales for treatment services* EBITDA = Operating profit＋Depreciation and amortization ± Other income and expenses

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Consolidated nancial results (IFRS)
Performance trends【Q2 results】Revenue +34% (QoQ)
Consolidated
statement of profit orloss

FY2022

FY2023

Quarter on Quarter

Q2

791

1,045

1,058

2,104

+13

+1.2%

+267

+33.8%

323

480

480

959

-0

-0.1%

+156

+48.3%

467

566

579

1,144

+13

+2.3%

+111

+23.8%

R&D expenses

182

174

180

354

+5

+2.9%

-2

-1.2%

Other SG&A
Other income/expenses

562

766

757

1,523

-10

-1.2%

+194

+34.6%

12

67

-651

-584

-718

-

-663

-

Operating profit
Finance income/expense
Other

-264

-308

-1,008-1,317

-700

-

-744

-

134

363

-12

351

-375

-

-146

+109.2%

132

712

74

786

-638

-89.6%-58-43.9%

1

767

-947

-180

-1,714

-

-948

-

27

330

-933

-603

-1,264

-

-959

-

-132

-212

-194

-406

+19

-

-62

-

Cost of sales
Gross profit

Profit before tax
Profit attributable toowner of the parent
EBITDA

With out the temporary expenses (660M) -348M

Q1-Q2

+/-

+/- %

Year on Year

Q1

Revenue

Q2(Unit: Millions of yen)

+/-

+/- %

☆Transferred a portion of other SG&A expenses in FY2022 Q2 to the cost of sales due to a review of the cost of sales for treatment servicesfi6Consolidated nancial results: Revenue/Operating pro t (Margin)
Operating pro t from rental of products 408M (Operating pro t margin 48%)

(Unit: Millions of yen)

FY2022
Q1-Q2

FY2023
Q1-Q2

+/-

YoY

776

858

+81

+11%

336
(43%)

408
(48%)

+72

+21%

Revenue

594

802

+209

+35%

-50
(-8%)

-234
(-29%)-185-

Revenue☆

Rental of product

Revenue

Operating profit(Margin)☆

Treatment service

Operating profit(Margin)☆

New businessexpansion☆ ☆ RD expenses andHead office expenses

Consolidated total(IFRS)

444

+271

+157%

-72
(-42%)-170(-38%)-98-

Adjusted amount-657-1,322-666

Revenue

1,542

2,104

+561

+36%

-442
(-29%)-1,319(-63%)-877-

Operating profit(Margin)Operating income by business segment is the amount of pro t or loss, which is revenue minus operating expenses, for each business.

☆☆ RD expenses and head of ce expenses, are adjustment amount of R&D expenses, head of ce administrative expenses, other income and expenses, etc.

• Rental of product: Rental income from the Group’s product (include income from sold products)• Treatment service: Income from treatment at the Group’s rehabilitation facilities (including Robocare)• New business expansion: Revenue from new business area of the Group (subsidiary company in mobility and sleep apps)

Without temporary expense of (660M), -662M

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☆

172

Operating profit(Margin)Changes of rental revenue by each products
Overseas product rental sales increased by 128M YoY (+44%)

For Hospitals(improving function)

Product classification

Japan

Outside Japan

Total

HAL Lower Limb Type(Medical)

163

261+61％

424

(166)

(162)

(328)

HAL Lower Limb Type
(Non-medical)

79

HAL Single Joint Type
Care support
and well-being

HAL Lumbar Type
HAL Lumbar Type

Labor Support
Mobile robot (CL02 etc.)
Medical application
research

Photoacoustic imaging(Acoustic X)
Other
Total

-

79

45

49

94

(59)

(40)

(99)

55

51

106

(76)

(54)

(130)

(90)

22

22

-

53

0

44

44

(0)

(17)

(17)

27

10

37

(23)

(14)

(37)

442

415 +44％

858

(489)

(287)

(776)

53
(41)

Top row：FY2023 Q1-Q2(Bottom row：FY2022 Q1-Q2)

(90)

-

(34)

(Unit: Millions of yen)

(34)

(41)

8

Consolidated nancial results (IFRS)
by geographical region
Sigini cant increase of oversea sale +558M (53% to 65% of total revenue)

Japan 35%

740M

Americas 34%

729M

Americas 35%

522M

Japan

47%

APAC 11%726M

EMEA 8%

127M

224M

EMEA 20%

167M

410M

APAC 11%

FY2023 Q1-Q2

FY2022 Q1-Q2
Americas: North, Central and South America
EMEA : Europe, the Middle East and Africa
APAC : Asia-Paci c * Revenue from Japan is stated separately

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Ref) Consolidated nancial results (IFRS)
by geographical regions and type of transaction
Oversea revenue increases in each type of transaction(Unit: Millions of yen)

(FY2022 Q1-Q2)

Rental of productTreatment service

New business

Total

Japan

Americas

EMEA

442 ▲10％

37

154

(489)

(33)

(87)

703 +44％

24

(489)

(40)

75

+16％

(65)

211

+23％

(172)

729
(726)

+0％

+12％

740

+77％

▲40％

232

-

410

+42％

(522)

(127)

APAC

Total

224 +34％

858

(167)

(776)

-

-

(-)

+222％

802

+11％

+35％

(594)

444

+157％

(172)

224 +34％

2,104

(167)

(1,542)

+36％

10

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FY2023 Q1-Q2

Pro t Structure:
Strategies by business composition for sustainable growth

Aim for sales growth rate from 30〜40%(Unit: Millions of yen)

5,000

New business (Growth side)
3,289

4,000

New business(Flow/BtoB)

21%
942

・Mobility area (EU)
*Utilize M&A as well(＋53％)
11%
364

3,000

37%

Expanding eld (Sales side)

1,631

39%
1,285

Service(Flow/BtoC)

・Treatment service for individual(US)*Establish new facilities and utilize M&A

2,000

1,000

1,857
42%

1,640
50%

Rental(Stock/BtoB)

Reinforcing eld (pro t side)
・Rental to medical facilities (APAC & EU)・Rental of Medical HAL to Japanese hospitals

FY2022
Actual*Product sales are included in rental

FY2023
Target

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Outlook for achieving operating pro tability
Points for achieving operating pro tability✅ Product rental:- Continue to expand the rental of HAL in the EU and APAC
- Expand approval in Japan for spinal cord injury and stroke (medical approval and insurance coverage)✅ Treatment service:- Expansion of RISE Group locations in the U.S. and optimization of labor costs (to achieve
operating pro tability as soon as possible)✅ New business expansion:- Cost reduction by changing the business policy of C2 Inc. (Achieved pro t in September 2023)- Expand revenue and reduce the initial cost of German LeyLine GmbH (to achieve operating
pro tability as soon as possible)✅ Other:- Increase rental of disinfection/cleaning robot CL02, commercialize vital sensor “Cyvis” andphoto acoustic imaging device “Acoustic X”

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Outline of the business13

Realization of Techno-peer Support Society,

Where human and technology lives together and supports each otherPromote innovation that “leaves no one behind”
Maintain and manage their health even in old age and exercise their long-cultivated abilities tothe fullest even if they have a disability due to a decline in physical functions caused by disease,accident, or aging, they can live with a higher degree of independence.

Brain
Brain

Technology
Technology as
the new partner

Peer

Society
1.0

Society
2.0

Society
3.0

Society
4.0

Society 5.0/5.1

Promote healthy lives of many people with technology・・・aging, burdening-care

Physical space

Cyber space

Cybernics Space→ Create “Cybernics Industry”, a new industry that follows Robot and IT Industry
14

Cybernics Technology: Innovative core technology of Cybernics Industry*Cybernics:
New academic eld that fuses and combines
cross-disciplinary elds. It is centered aroundhumans, robots, and information systems, aswell as other elds.

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Integrated Cybernics System : Fusion of “Human” + “Cyber/Physical Space”
Realization of physical and informational interaction with 'people' to solve various issues in a super-aging society
Create a "Cybernics Industry" for people and society, focusing on medical care, welfare, daily life, workplace, and production
long-term care

Medicine

Cybernics Treatment

Vital Sensing

Promoting
Independence

Watch-overfor safety

Care
Support

Mobility
SupportLabor
SupportIntegrated
Cybernics System

Workplace

Daily life

Transportation
Production

Cleaning/sterilization
16

Innovation in the integrated space of “Human” + “Cyber/Physical Space”
Elderly care

Medicine/Healthcare

Medicine/Healthcare

Elderly care

Life support

Life support

Work support

Work support

17

C-Startup : Innovation ecosystem to create Cybernics Industry
University andresearch institutions

Cybernics Industry
bio/drug discovery

2020/12 listed

Start-ups andentrepreneurs

Med Tech

C-Startup

Big
Data

2022/6 M&A

regenerative
medicine

2022/12 listed

Cutting-edge
technology

Technical advices
Financial support
Business support

CYBERDYNE
Medical institutions,care facilities, companies,
allied partners

IoH/IoT
Robotics

AI

CEJ Fund (scale of 10 billion)

University, research institute, government
WEF Centre for 4th Industrial Revolution,
Consortium of cutting-edge medicine in the
21st century
Smart city council etc,.

2023.3.31 updated18

(Ref) Fair value assessment of strategic investment through “C-Startup”
Cumulative investment income 5.7 billion yen vs cumulative investment amount 11.4 billion yen
Realized gain 730 million (5 companies)

Cumulative
investment income
Gain on valuation difference (PL)5.21 billion (13 companies)

5.68 billion

Cumulative investment amount
11.4 billion (33 companies)*Unlisted equity securities are fair valued in accordancewith IFRS 9 "Financial Instruments

Realized loss (PL) 100 million (1 company)
Loss on valuation difference (PL) 660 million(2 companies)

Gain on valuation difference (OCI **)520 million (4 companies)

Realized loss (OCI) 20 million (1 company)

Increase of fair value (22 companies +6.46 billion)

Decrease of fair value (4 companies -790 million)**OCI (Other Comprehensive Income): Income notrecognized in net pro t or loss (PL)
(Reference) Investments in which no valuation
di erences are currently recognized: 7 companies(As of October 31, 2023)

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Cybernics Medical Innovation Base: Outline
Creation of new treatment with Cybernics Treatment combined with regenerative medicine and drug discovery

Kingsky Front Tonomachi, Kawasaki
New base with a view to global expansion(5 minutes from Haneda Airport)

Haneda airport

Six C-Startup partners in this eld have moved infrom January 2023 (already completed and con rmed)

Cybernics medical
innovation base

Selecting partners gradually,
considering future business synergies(As of October 31, 2023)

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20Cybernics Medical Innovation Base: Purpose
1) Combined Cybernics Treatment : Regenerative Medicine and HAL
While "Cybernics Treatment" using the world's rst Wearable Cyborg HAL is becoming a standard
treatment for functional improvement and regeneration of human brain nerves and muscles (HAL isalready available in 20 countries in Europe, the U.S., Asia, etc.), further therapeutic effects are expected
for severe patients by introducing technology at the cellular level and cell-produced substances. The
Group will promote the systemization of Cybernics Treatment at this research facility.

2) Combined Cybernics Treatment : Drug and HAL
After the post-marketing study of "Cybernics Treatment" using the Wearable Cyborg HAL, thecombination of the latest nucleic acid drugs and HAL has begun in actual medical practice, andsynergistic effects from the combined therapy of drugs and HAL are hoped for. CYBERDYNE will
promote the systematization of Cybernics Treatment in cooperation with pharmaceutical companies andthe institutions occupying such research facilities.

3) Integration of medical and bio-based technologies with AI, robotics, and information systems
In addition to deploying the Group's new-generation robotic bioreactor technologies and technologies
that integrate medical/biotechnologies with AI, robotics, and information technologies, the company will
provide research facilities to partner companies (medical/biotechnological companies and start-ups thatcan collaborate with the Company) and others to develop new medical technologies and expand theCompany's business.

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【Medical】Cybernics Treatment

CYBERDYNE, Inc.

22

Innovative Cybernics Treatment Technology
Wearable Cyborg HAL : Cybernics Treatment that induces functional regeneration
Signals from a person's brain nerve system are processed by signal processing and artificial intelligence inreal-time, HAL moves as if it were a part of the person's own body according to the person's intention

Medical1) HAL obtains information related to the brain nerve and muscles from the peripheral part of the body2) HAL synchronizes with the wearer’s intentions and functions according to the intention
3) Forms an interactive bio-feedback loop to induce improvement in the body-nerve and muscles systems,
achieving the goal of the Cybernics Treatment
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【Medical】Cybernics Treatment (functional improvement/rehabilitation treatment)
Cybernics Treatment: Innovative method utilizing HAL for treating brain-nerve-musculoskeletal disorders

HAL Lumbar TypeHAL Single Joint Type

HAL Lower Limb Type24

Development pipeline (1)1) Medical HAL (Lower Limb Type)
Target disease

Product
Development

Clinical Trial(Exploratory)

Clinical Trial(Validation)

As of October 31, 2023

Application/
examination

Approval

Marketing(public healthinsurance in Japan)(Post-marketingsurveillance)

Neuromuscular
DiseasePublic healthinsurance

PublicHealthInsurance(8 types of diseasesuch as ALS)

PublicHealthInsurance

Spastic paraplegia(HAM etc.)

Spinal Cord Injury

Status
FY2022 revision (DPC calculation)
Public health insurance application(Germany)
Planning for public health insurance
Preparing for insurance application
Preparing application for expansion
Preparing application for expansion

Public medical
insurancecoverage forclinical trials

GermanPublic workers
Compensation
insurance

Discussing with the authorities
Preparing trial for public healthinsurance (Germany)
Planning for public health insurance
Consulting trial with authorities

StrokePlanning for public health insurance
Planning for public health insurance
Investigator-initiated clinical trial

Cerebral Palsy

Multiple Sclerosis
Conducting pilot research

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Development pipeline (2)２）Medical HAL (Single Joint Type)
Target disease

Product
Development

Clinical Trial(Exploratory)

Clinical Trial(Validation)

Application/
examination

As of October 31, 2023

Approval

Marketing(public healthinsurance in Japan)(Post-marketingsurveillance)

Public healthinsurance
PublicHealth Insurance

Neurology

StatusAdditional equipment for increased physical activity
Preparing for public health insurance（e.g. stroke)

Preparing for public health insurance

Preparing for public health insurance

Orthopedic

Preparing for public health insurance（e.g. after arti cial knee
replacement)

Preparing for public health insurance３）Medical HAL (Lumbar Type)
Target disease

Product
Development

Clinical Trial(Exploratory)

Clinical Trial(Validation)

As of October 31, 2023

Application/
examination

Approval

Marketing(public healthinsurance in Japan)(Post-marketingsurveillance)

Public healthinsurance

StatusConducting pilot trial

StrokeParkinson's
Disease

Preparing clinical trial

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Status of approvals by diseases and countries (1)Signi cant progress of legislation process in all regions
1）Medical HAL (Lower Limb Type)
StrokeNeuromusculardisease*As of March
31, 2023

Approved

Approved

Approved

ApprovedEU

Approved

Approved

Approved

Saudi Arabia

India

Approved
Approved
Approved
Approved
Approved
Approved
Approved

Approved
Approved
Approved
Approved
Approved
Approved
Approved

Taiwan(application in progress)

Australia

Approved

Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved

USA

TurkeyMalaysia
Indonesia
ThailandAPAC

Spinal Cord Injury(Discussing application method(Following the discussion with thewith the authorities)
authorities, considering additional trials) *Approved for viral (HAM) and hereditary(spastic paraplegia) spinal cord disease.

Japan

EMEA

As of October 31, 2023

Singapore(application in progress)

Approved*Spinal muscular atrophy, spinal and bulbar muscular atrophy, amyotrophic lateral sclerosis, Charcot-Marie-Tooth disease, distal muscular dystrophy, inclusion body myositis, congenital myopathy, muscular dystrophyfi27

Status of approvals by diseases and countries (2)Steady progress in medical devices legislation of Single Joint Type
２）Medical HAL (Single Joint Type)
Neurology（e.g. stroke）

Orthopedic（e.g. after arti cial knee replacement)

Japan

Certi ed*Certi ed*USA

Approved

Approved

Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved

Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
ApprovedEU
EMEA

TurkeySaudi Arabia
Malaysia
Indonesia

APAC

As of October 31, 2023

ThailandSingapore
India
TaiwanAustralia*As Japanese approval system separates “approvals” and “certi cations”, certi cation was used for accurate description

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Oversea expansion of HAL
Steady installationin U.S., EU and APAC
after COVID
pandemic
HALを使用したNeuro
HALFITを全国展開（全16箇所）
Yellow indicates new introduction areas after After the outbreak of COVID-19
PolandConstance care

Germany*Covered by Public workers
compensation insurance
and private insurance*private insurance
coverage

Italy
Coopselios

EnglandState of Hampshire

California

FranceHospices Civils de Lyon

SerbiaTurkeyDiagenics

Spain
Switzerland

India
IBS Hospital

TaiwanCHC Group Hospital

FloridaBrooks Rehabilitation

Philippines

Saudi Arabia
ALJ Hospital

KuwaitSingapore General HospitalThailand

Malaysia
Operated in 11 facilities covered by public
workers compensation organization

Indonesia

BrazilLarge distribution of HTLV-1associated myelopathy (HAM)
infected individuals
Australia

As of October 31, 2023
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®︎

BioCruces Bizkaia

RISE Healthcare Group(28 facilities)

Malaysia (1)Public Social Security System accelerates Cybernics Treatment dissemination in Malaysia

109 HALs rented for a fee
at 11 facilities in Malaysia
More locations to be added in the future

SOCSO (Malaysian Public Social Security Organization)
SOCSO has four functions: disability pension, survivor’s pension, medical
coverage and occupational injury coverage, and is compulsory for Malaysian
and foreign workers in Malaysia to join the program. It provides medical
compensation, disability compensation, funeral bene ts, child support andnursing care bene ts for illness or injury that occurs while commuting to andfrom work.

As of October 31 2023

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Malaysia (2)Largest medical complex in Southeast Asia “National Centre for Neuro-Robotics and Cybernics”

SOCSO constructs “National Neuro-Robotic and Cybernics Centre”
in the northern region of Malaysia
National Centre for Neuro-Robotics and Cybernics
It is being built in Bandar Meru Raya, a new area being
developed in Ipoh, Perak, northern Malaysia. It is expected
to cover an area of 37 hectares. It will be the largest medical
complex in Southeast Asia operated by SOCSO, with thecapacity to provide comprehensive treatment to about 700
patients simultaneously for a certain period.

✅ Cybernics Treatment are highly evaluated outside Japan✅ Reinforce Cybernics Industry from this site

Planned to be completed at the end of 2024
31

ItalySigned contract with social cooperative Coopselios
Shipping out 25 units of HAL. Planning to ship out more units

Coopselios is a social service organization active in Italy for over
30 years, including nursing homes, rehabilitation centers, andchildren's homes. Coopselios has been providing services to
Italy's families, municipalities, and public health institutions
・3,550 professionals
・In 8 regions of Italy
・Providing services to 7,800 people everyday

Coopselios Headquarter in Reggio Emilia ‐ Italy
https://www.coopselios.com/uploads/2023/02/Ok-COOPSELIOS-GROUP-2022-ENG_de nitiva_SHORT-modalità-compatibilità.pdf

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Spinal Cord Injury: Clinical Trials by German Insurance Authorities
Clinical trials to be conducted on the premise of German public medical insurance coverage
G-BA (German Federal Joint Committee) decides to conduct clinical trials under the premise of insurance coverage
G-BA approves Cybernics Treatment as the standard of care to be considered for spinal cord injury patients (in accordance with §137eSGB V of the Study Regulations)
G-BA itself decides to conduct a clinical trial (the clinical trial will be covered by public health insurance for Cybernics Treatment in advance).
The results of the clinical trial are expected to be included in the German public medical insurance system.

G-BA Preparing Protocol Framework for Clinical Trials
2023/01 Protocol outline presented
2023/03 Expert hearing held
2023/09 Protocol guideline announced→ CRO will be decided after January 2024

G-BA (Federal Joint Committee): Organization at the federal level that determines basic bene ts, prices, standards, etc. for German insurance treatment.
§137e SGB V (Trial Regulation): A system under which the G-BA conducts its own initiated clinical trials and makes nal evaluations of promising treatments that
could become the standard of care.
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Ref) Spinal cord disease:(Excluding traumatic injury)
Additional indications: HTLV-1-associated myelopathy (HAM) and hereditary spastic paraplegia (approved)

Existing indication
Progressive neuromuscular diseases (8 diseases)

1. Spinal and bulbar muscular atrophy
2. Amyotrophic lateral sclerosis,
3. Spinal muscular atrophy
4. Charcot-Marie-Tooth disease
5. Inclusion body myositis
6. Distal muscular dystrophy
7. Congenital myopathy
8. Muscular dystrophy

Expanded indication (2022/10)
Public health insurance (2023/10)
Progressive spinal diseases (2 diseases)

1.HTLV-1-related myelopathy
2.hereditary spastic paraplegia

Cybernics Treatment promotes the regeneration of neurological function in many diseases. It improves gait instability andfunctional disability caused by progressive intractable diseases for which no effective treatment has been established34

Stroke: Initiatives towards obtaining approval
Discussing additional trials for Medical HAL Lower Limb Type with the authorities

As of October 31, 2023

CYBERDYNE is discussing additional trials (clinical trials) with the authorities, as compared to
2014-2015, when investigator-initiated clinical trial for stroke (HIT2016 trial) was conducted,
conditions surrounding acute stroke treatment and recovery rehabilitation changed signi cantly.
There is a need to capture the latest patient pro le and clinical needs.

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【Healthcare】Neuro HALFITCYBERDYNE, Inc.

36

Neuro HALFIT
Program to improve brain-nerve-musculoskeltal function at Robocare Center

HAL Lumbar TypeHAL Single Joint Type

HAL Lower Limb Type37

Robocare Center: Nationwide expansion of Neuro HALFIT
Expansion of hubs in the medical healthcare service business for individuals

Available in 17 locations
nationwide

38

HAL care prevention program
Signi cant improvement in mobility functions (daily activities such as standing, walking, running, sitting) of the elderly

Care prevention program (Kanagawa Mirai MIBYO Cohort Study)
Interim evaluation results of short-term intervention twice a week for a total of 10 sessions

Evaluation item

Before HAL

After HAL

(Mean±SD)(Mean±SD)

Improvement rate

P-value

10m walk (walking speed m/sec)

1.04±0.22

1.45±0.25

39%<0.001***

Locomotiv 5 check8.15±2.48

3.96±3.15

105%<0.001****Signs of motor unit deterioration）

Subject n=80 people (Average age : 74.8 ± 4.3 years old)
Research and development of nursing care prevention programs utilizing healthcare robotsfi

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Strategy for growth

CYBERDYNE, Inc.

40

Image of growth scenario
Towards gradual growth
Strengthening cloud computing,personalized business, M&A, etc.

Reinforcing existing business,pioneering new eld(evolution of the business model, M&A)

Expanding existing business(expanding usage, business towards
individual users, etc.)

Now

Developing the business base(Expanding product lineup, obtaining
regulatory approvals in eachcountries)

Time
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Businessscale

Future of medical healthcare and healthy life
Prevention/pre-symptomatic, medicine, rehabilitation/long-term care

Medical/Healthcare/Healthy life
Pre-Hospital

Hospital

Early medical・life period Prevent/pre-symptomatic

Diagnose, treat, inpatient/outpatientearly medical・life periodHousehold・work place・life space

Acute

RecoveryHospital

Post-Hospital
Late medical・life period : rehab/long-term care

Late medical・life periodHousehold・work place・life space

Squat

Squat

Close coordination, fusion between medical and non-medical field to evolve into comprehensive initiatives
42

Cybernics Medical Healthcare System
Prevent, early detect and improve on daily basis (data linkage with Cyberdyne Cloud)Cybernics Medical Healthcare Systemthat prevent, early detect and improve on daily basis
Hospital, Facility, House, Workplaces

Cyberdyne Cloudwith innovative Cybernics System
Cybernics Treatment and monitoringat hospitals

Health care monitoringin daily life

Cloud
Computing

Improve independence to encouragecontinuous social activity

Sleep Apnea Syndrome,
sleep deprivation check

Activity,
sleeping check
Healthcare check and program to improvephysical function at home

Health Care Monitoring in the Workplace

Seamless data linkage between hospitals, facilities, homes, and workplaces with IoH/IoT
43

Medical Healthcare Service for Individuals Neuro HALFIT at Home
Expansion of remote services connecting home and hospitals/facilities through cloud computingHouse（つーざー）

LTE/5G【Integrated Cybernics System】 LTE/5G

Physical information

Physical information(User)

Cybernics Device

Monitor tablet(User)
SupportUser authentication
Device authentication
Data baseRemote service to counter the pandemic

Physicalinformation

Physical information

Monitor tablet

Cybernics Device

SupportPhysical information

Facility

SupportInduceimprovement ofbrain-nerve andphysicalfunction

Physicalinformation

SupportSupport（つーざー）(professional)

Robocare Center

Robocare Center（CYBERDYNE）（つーざー）［Cloud］

SupportInduceimprovement ofbrain-nerve andphysicalfunctionHouse

Monitor tablet

Monitor tablet（CYBERDYNE）

Professional
Staff
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Medical service business for individuals: US Business (1)Promotion of in-house platform development of medical services for individuals

RHG（RISE Healthcare Group Inc.）

Northern California
Population: over 12.2 million(Company in charge of the Group's medical service business)✓

Gradual expansion in Southern California✓

Expansion to Northern California (February 2023)✓

Currently 28 locations (up 12 locations since thebeginning of the year)✓

Promoting Cybernics Treatment in four facilities(hybrid of insurance and self paid service)

A milestone in developing personalized
services, such as home functional
improvement and daily health care monitoringFirst base in Northern California
Monterey

State of California
accounts for 10% in theentire US population

LA Metropolitan area
Population: 13 million(2nd largest in US*)San Diego area

Population: 3.3 million(17th in US*)* https://en.wikipedia.org/wiki/List̲of̲core-based̲statistical̲areas
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【Prevention and early detection】Ultra small vital sensor Cyvis

Healthcare monitoring on daily basis with Cyvis
Daily accumulation, analysis, and AI processing of various vital data
・Cardiac activity
・brain activity
・body temperature
・Body movements
・Breathing / SpO2
・(optional)

Check for arrhythmia and atrial brillation
to prevent myocardial infarction and cerebral infarction
Option to check breathing conditions during sleep for early detection of sleep apnea risk
✅ “Cyvis-1” applied for medical device legislation (Apr. 2022), Available on a trial basis for users✅ “Cyvis-2” applying for medical device legislation (Apr. 2023)fi

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【Prevention and early detection】Ultra small vital sensor Cyvis

Expands remote service that connects households to hospitals and facilities
Physical information（つーざー）(User)

User authentication
Device authentication
Data base

Induceimprovementof brain-nerve
and physicalfunction

Remote service to counter the pandemic

t
pp

or

t

Early
detection of
sleep apnea
syndromerisk

Facility(Professional)（つーざー）(User)
Monitor tablet

Mobile tablet

orSupportSupportpp

Su

Physicalinformation

Cyvis

Monitor tablet

Cybernics Device

al
ic on
ys atiPh rmfoinPhysicalinformation

Su

House

(User)
SupportInduceimprovementof brain-nerve
and physicalfunction

Early detectionof risks of
Cerebrovasculardisease, heartdisease, etc.

（つーざー）［Cloud］

SupportMonitor tablet

House

LTE/5G

Physical information

P
in hy
fo si
rm ca
at l
io
n

Cybernics Device【Integrated Cybernics System】

LTE/5G

House

House

（つーざー）(User)

Monitor tablet

Mobile tablet

Cyvis (Option)

Professional
Staff

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【Prevention and early detection】Photoacoustic Imaging Device using LED light array

Contrast-free, non-invasive, real-time, high-resolution 3D imaging
LED array method (patent held by the company)

Peripheral level examination,
which could not be done withconventional imaging
equipment, is now possible!
Example of application• Routine examination and diagnosis of•Adopted as the cover of
BioPhotonics, a U.S. industry
journal dealing with biophotonics••

diabetic foot lesions
Examination of vascular regeneration
status by regenerative medicine
Examination and diagnosis of cancer
Examination of aging skin, etc.

Peripheral vascular and bloodconditions, etc.

Currently promoting medical device commercialization as a next-generation medical diagnostic imaging device48

【Prevention and early detection】Photoacoustic Imaging Device using LED light array

Introduced by prominent universities and research facilities around the world(e.g., Cambridge University, Stanford University, Johns Hopkins University, etc.)49

【Workplace】HAL Lumbar Type (Labor Support)
Visualization of workers' workload and physical condition (labor management and work ef ciency)
Active type andlight weight• Can be worn for long hours

Construction sites,

Integrated
Cybernics System

airports, and distribution
warehouses etc.

Compact design• Can be used with safety belts (full-body type)(back won’t be covered)and air conditioning suits!
Assist walking
Able to move in midback position.
IoH/IoT device
Wearable Cyborg
Can be worn in 10 sec
Waterproof/dustproof(IEC reg, IP54)• Can be moved smoothly on siteLabormanager• Respond with assistance in a variety ofpractical tasks!

• Visualize workload analysis and operation status!
Integrated production management• It moves according to the wearer's
intention• Easy to put on and take off,•share with multiple people!
Can be worn outdoors,even in the rain!

Topics
Preparing a prototype of a new model
１）Slimming down even further
２）Further power and smooth assistance３）Visualization of vital andwork environment
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【Workplace】Disinfection/Cleaning Robot CL02
Operationalizing next-generation technologies in a post-coronary society•

Extensive•
Cleaning ability •High-speed autonomous navigation (Can safely clean at 4km/h to cover massive space in a short time
Massive cleaning area (Detects wall that is 30m away and covers max 3,000m2 with full charge battery)High vacuum performance (One of the best in the industry)
Airports, o

CYCLES
Cloud & Server
ce buildings,

Cyberdyne
Cloud&Server

facilities, shopping•
Can be used for •multiple tasks such •as disinfection•

Disinfection agent sprayer (Disinfects handrails and benches)••

Dust distribution map (visualizes result of the task)
Navigated route (to create ef cient and effective cleaning plan)

Visualizes
its work

centers etc.

UV Ray Disinfector (Set on the bottom of the robot to disinfect oors)
Wiper cleaner (Small sound as it does not use vacuum)
Carpet spray & Brushing (Make carpet long lasting)

Human
RobotsAutomatically •rides on the•elevator

Elevator interface unit developed inhouse(Can connect to elevators developed by multiple vendors)
Can work on multiple oors (Expands the space that can be cleaned)

Information transfer
and remote control

Topics１）Can now work in o ce buildings(Interlocking with building systems)•

Cloud linkage•２）Expansion of mobility applications(Transport robots in factories, etc.)“CYCLES” designed for the Robot(realizes high usability and management)
Integration with the base system

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SDGs for Society 5.0/5.1

CYBERDYNE, Inc.

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Four projects that contributes to achieving SDGs

Develop Cybernics Technology tosupport people with reduced
physical function

Health Risk Management with
Cyberdyne Cloud

Main initiatives

Main initiatives• Disseminate Cybernics Treatment that
promotes functional improvement andregeneration of the brain, nervous system,
and muscular system using a Wearable
Cyborg HAL, as a global standard treatment• Develop Cyberdyne Cloud to accumulate,analyze, and perform AI processing of big
data on people and things (IoH/IoT big data)obtained through all Cybernics Technologies
equipped with communication functions• Disseminate Wearable Cyborg HAL to
improve the level of care required by theelderly and prevent severe illness and prevent
frailty and maintain independence as physicalfunctions decline with age• Realize personalized healthcare throughCyberdyne Cloud• Develop Cyin for Living Support for people
with severe disabilities who cannot speak orwrite as they wish due to the progression of
intractable diseases to communicate andoperate machines without speech or physicalmovement• Develop sensing technology to monitor vital
information daily• Develop HAL at Home as a new service thatcan share user's information on their training
sessions conducted at home using HAL withmedical and care facilities

Form social infrastructure tocreate the Cybernics Industry
Main initiatives• Establish a system to support companies andhuman resources that develop and deploy
technologies and services that solve social
problems• Construct Cybernics Innovation Base topromote innovation in the medical andbiotechnology elds
• Continue the projects at the Next-generation
multi-purpose robotized production facility to
induce innovation in the production eld

Realize Society 5.0/5.1, a futuresociety that accelerates innovation
Main initiatives• Develop mobility technologies that are safe,
affordable, and ready for use by all people• Develop a future city where all people, including
the elderly and disabled, can easily access public
spaces.
• Establish educational institutions that develop
knowledge and skills to help people.
• Create shared spaces that promote innovationand scienti c research and areas for eld testing

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Develop Cybernic Technology to support people with
reduced physical function
Our contribution

Main target
10.2 by 2030 empower andpromote the social, economic
and political inclusion of allirrespective of age, sex,
disability, race, ethnicity,
origin, religion or economic orother status

By developing the Wearable Cyborg HAL for medical and welfare elds, andCyin for Well-being to support severely disabled to communicate theirintentions, we are supporting the elderly and disabled person by
maintaining and improving their functions. We also help them express what
they have in mind.
We also develop another type of HAL to support people engaged in heavy
work.
This project promotes the empowerment of these people and their social,economic, and political inclusion.

As of the end of September 2023,
HAL for Medical Use is available in
20 countries and regions, includingSoutheast Asia and South Asia, as atreatment technology for stroke,
spinal cord injury, and intractableneuromuscular diseases.
The treatment has been covered bypublic insurance after its
effectiveness was con rmed to inhibit
the progression of eightneuromuscular intractable diseases
and temporarily improve physicalfunctions. Also in October, theinsurance decided to cover thet r e a t m e n t o f H T LV- 1 - r e l a t e dmyelopathy and hereditary spastic
paraplegia.
We will continue to disseminate thetechnology.

Post-discharge care at the
Robocare Center

Cybernics Treatment Center andMedical HAL

HAL Lumbar Type to support
various heavy work

Cyin for Living Support to support severely
disabled person on their communication

Disseminating Medical HAL as a
global standard treatment

For those who want to keep
improving their physical functions
after they get discharged from thehospital, we offer Neuro HALFIT at
self-funded rehabilitation facilities
called RoboCare Center. As of theend of September 2023, there are 17
centers around Japan. In addition,
we have formed alliances withseveral private insurance companies
to cover the cost of such programs.
We will continue our efforts toimprove physical and economic
access.

Improving the working environment
Job turnover due to the onset of backpain and the deterioration of
performance caused by frequent
heavy lifting is becoming a signi cantissue in nursing care, construction,and logistics.
The Company develops HAL
Lumbar Type to reduce the risk ofdeveloping back pain by reducing theload applied to the lower back. The
technology empowers people
engaged in heavy lifting and enables
the worker to continue working longer
and safer.
As of the end of September 2023,
1,448 units of HAL Lumbar Type
were in operation.
This product is currently available inJapan and the UK. We will continue
to disseminate the technology tomore countries and regions.

Supporting communication for theseverely disabled
We develop Cyin for Living Support,
which enables people with severe
disabilities who cannot speak or movetheir bodies due to the progression of
intractable diseases to communicate
and operate devices.
The product is available on themarket. Daido Life Insurance donatedthe product to several patient groups
and patient support groups to promote
this endeavor.
We will continue to work on additional
functions and offer the product outsideof Japan once it is ready.

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Our contribution

Release of Cyberdyne Cloud

Cybernics Technology deployed in various elds such as medicine, nursingcare, production, and other workplaces with households, integrally connects
people's internal information (brain nerve information, physiologicalinformation, etc.), people's external information (behavioral information,
lifestyle information, etc.), and environmental information with asupercomputer.
The Company works on the system that accumulates, analyzes, and AI
processes all the IoH/IoT Big Data obtained through this process,contributing to personalized medicine, early warning of health risks, andenhancing risk mitigation and risk management capabilities.

Main target
3.d Strengthen the capacityof all countries, in particulardeveloping countries, forearly warning, risk reduction
and management of nationaland global health risks

The Company develops Cyberdyne
Cloud to connect different elds andprovide feedback on health risks
based on IoH/IoT Big Data. In Japan,
a system that allows users to send
information on their training sessions
from home to a facility and receive
timely support from the facility isalready in operation from November
2020.
We will continue to expand thissystem to other elds according to
the development of products andservices. We will also offer thesystem outside Japan to contribute tohealth management in all countries,
including developing countries.

Realizing personalized
healthcare
Cybernics Medical Healthcare Systemthat prevent, early detect and improve on daily basis“Hospital”, “Facilities”, “Household”, “Workplaces"

Health care monitoringin daily life

Cybernics Cloudwith innovative Cybernics System

Cybernics Treatment andmonitoring at hospitals

Cloud
Computing

Improve independence toencourage continuoussocial activity

Sleep Apnea Syndrome,
sleep deprivation check
Activity,
sleeping check

Healthcare check and program to improvephysical function at home

By accumulating, analyzing, and AIprocessing IoH/IoT Big Data related
to a single user across different
elds, we will realize personalized
healthcare that will maximize theeffect and safety of that user.
This initiative is being carried out
simultaneously with the formation of
IoH/IoT Big Data for all users. We willcontinue to expand this system toother elds according to thedevelopment of products andservices. We will also offer thesystem outside Japan to contribute tohealth management in all countries,
including developing countries.

Developing vital sensing
technology
In addition to developing the
Wearable Cyborg HAL andautonomous navigation technology,
we are developing sensing
technology to prevent and detect
diseases.
For example, commercialization ofCyvis, an ultra small-sized vital
sensor to detect atrial brillation andarrhythmia at an early stage, and aphotoacoustic imaging device toenable real-time analysis of capillary
information.
By promoting these products, we willaccumulate important vital
information that will lead to theprevention and early detection of
diseases, thereby contributing to theenhancement of capabilities forhealth risk management.

New service: HAL at Home
HAL at Home is a new service thatenables safe and effective training at
home. HAL at Home also realized thevisualization of exercise information
and remote online support by
professional staff through HAL's builtin communication functions.
The Company is also working to
expand home visiting services so that
seniors who have concerns about
handling digital devices can also
engage in the program.

Health Care Monitoringin the Workplace

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Health Risk Management with Cyberdyne CloudOur contribution
We are working to create an inclusive and sustainable industry called
Cybernics Industry by building an innovation ecosystem called C-Startup
and facilities to accelerate innovation in medicine/biotechnology andproduction.

9.2 Promote inclusive andsustainable industrialization
and, by 2030, signi cantly
raise industry’s share of
employment and grossdomestic product, in line withnational circumstances, anddouble its share in least
developed countries

C-Startup, the foundation for the creation of new industries
C-Startup is an innovation ecosystem to create a new industry for solving problems ofpeople and society: Cybernics Industry. We work together with startups and entrepreneurs
with similar visions, regardless of their nationalities.
We accelerate creating the Cybernics Industry by providing technical advice by Yoshiyuki
Sankai (CEO of CYBERDYNE/Professor of Tsukuba University) and nancial support by
CYBERDYNE and its related Fund.
As part of this initiative, we have formed partnerships with over 30 startups and haveinvested over 10 billion yen in accumulation to support this endeavor.
Cybernics Industry

University andresearch institutions

Promoting the vision of the Cybernics
Industry
The Company promotes the vision of the
Cybernics Industry, a new industry that fuses
Human and Cyber/Physical Space, both
domestically and internationally. With thisinitiative, we are leading the efforts to form
Cybernics Industry together with industry,
academia, and government.
For example, in 2023, we communicated thisvision to various countries at the G7 Digital andTechnology Ministerial Meeting held in Takasaki
City, Gunma Prefecture.
We will continue to share our vision of the
Cybernics Industry as a foundation for industrial
and technological innovation.

Start-ups andentrepreneurs

bio/drug discovery

Med Tech

2020/12 listed

C-Startup

Big
Data

Exterior image
regenerative
medicine

Technical advices
Financial support
Business support

2022/12 listed

Cutting-edge
technology

IoH/IoT
Robotics

CYBERDYNEAI

CEJ Fund (scale of 10 billion)

University, research institute, government
WEF Centre for 4th Industrial Revolution,
Consortium of cutting-edge medicine in the 21st
century
Smart city council etc,.

Medical institutions,care facilities, companies,
allied partners

2022.9.27 updated

G7 Digital and Technology Ministerial Meeting (2023)

Construction of Cybernics Medical Innovation Base
We plan to construct the Cybernics Innovation Base in
Kawasaki City, Kanagawa Prefecture, as a facility toaccelerate innovation in the medical and biotechnology
elds. The facility will house a cluster of medical andbiotechnology ventures. The Company, universities, andresident companies can conduct a clinical trial in thefacility independently and through collaboration.
Life science companies such as C-Startup partners inregenerative medicine and drug discovery are moving in
beginning in 2023.

Activities at the Next-Generation
Multipurpose Robotic ManufacturingBase
In Koriyama City, Fukushima Prefecture, we haveconstructed a next-generation production base to
produce robots and devices with Cybernics
Technology. In this facility, the Company
embedded the skills of experienced workers into
the robots so the robots and human workers canwork in harmony.
The Company constructed the facility in 2016
and completed a registration to manufacture
medical devices in 2020.

Exterior of the facility

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Main targetfi

fiForm social infrastructure to create the Cybernic Industry

Realize Society 5.0/5.1, a future society that accelerates innovation
Our contribution
Using innovative Cybernics Technology, we promote the fusion of Humanand Cyber/Physical Space to create Society 5.0/5.1. We envision this futuresociety as a techno-peer-supported society where technology and human
support each other as partners.
Creation of Society 5.0/5.1

Main target
11.2
by 2030, provide

Society 5.0 is a concept rst proposed in Japan's Fifth Science and Technology Basic
Plan as the ideal future society. In this society, science and technology connect all people
and things, sharing various knowledge and information to create new values never seen
before.
We contribute to the creation of Society 5.0 by implementing Cybernics Technology inthe various business elds to integrate internal information (brain nerve information,
physiological information, etc.), people's external information (behavioral information,
lifestyle information, etc.), and environmental information with a supercomputer. As one of
the leaders in this challenge, we work to explore the society beyond Society 5.0/5.1.

access to safe, affordable,
accessible and sustainabletransport systems for all,i m p r o v i n g r o a d s a f e t y,notably by expanding public
transport, with special
attention to the needs ofthose in vulnerable
situations, women, children,
persons with disabilities andolder persons

Mobility Infrastructure

Futuristic housing

We are working on personal mobility
and drones for transportation that issafe, inexpensive, and easy to use,taking into consideration the needs ofthe elderly and disabled living in thecommunity.
We are also planning cities basedon the premise of introducing
mobility, which will shorten travel timeand create new connections andadded value between functions andfacilities.
While developing mobility
infrastructure in-house, we are alsocollaborating with startups that aredeveloping related technologies.

Through daily health management
and lifestyle support infrastructure
based on Cybernics Technology, we
will develop housing where all
people, including the elderly anddisabled, can live in harmony withtechnology and mutually support
each other to ensure peace of mind.
Speci cally, various Cybernics
Technologies, such as the Wearable
Cyborg HAL, autonomous navigation
robots, and vital sensors, will be
introduced into every space,including residences. Personal healthinformation will be accumulated,
analyzed, and processed by AI to belinked to medical facilities to manage
each person's health and safety
better.

Shared Economy
We plan to shift from the conventionalmodel of occupying information,
people, goods, space, and time to a
new form of a city where we can shareand help each other.
We will work to achieve successwith the allies formed in C-Startup. We
will also continue to gather people andcompanies with seeds related to
Cybernics and accelerate the creationof innovation through sharing andmutual aid of information, people,
goods, space, and time.

11.7
by 2030, provide
universal access to safe,
inclusive and accessible,
green and public spaces,
particularly for women andchildren, older persons andpersons with disabilities

An educational institution that
nurtures the next generation ofhuman resources
Through collaboration between
industry, academia, and government,
we are planning an educational
institution to foster the next generationof innovators.
We will nurture the next generationof innovators with educational
institutions ranging from graduate
school to elementary school, taught by
instructors from various companies.

perspective drawing of the future city

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Disclaimer

This presentation contains forward-looking statements concerning
CYBERDYNE, Inc. and its Group’s future plans, strategies and performance.
Forward-looking statements contained in this presentation are based on
information currently available and on certain assumption redeemed rational at
the time of creation of this presentation. As such, due to various risks anduncertainties, the statements and assumption does not guarantee future
performance, may be considered differently from alternative perspectives andmay differ from the actual result.
Further, this presentation contains statements and information regarding
corporate entities other than those belonging to the CYBERDYNE group, whichhave been complied from various publicly- available sources. CYBERDYNE
does not verify nor guarantees accuracy and appropriateness of those
information.

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