Consolidated Financial Results for Fiscal 2023 andFull-Year Forecasts for Fiscal 2024
Olympus Corporation | Executive Officer and CFO, Chikashi Takeda | May 12, 2023

Disclaimer
 This material contains forward-looking statements that reflect management’s current views, plans, andexpectations based on information available at the time of preparation. These forward-looking statements
are not guarantees of future performance and involve known and unknown risks, uncertainties, futurebusiness decisions, and other internal and external factors that may cause the Company’s actual results,
performance, achievements, or financial position to be materially different from any future results expressedor implied by these forward-looking statements.
 Additionally, this information is subject to change without notice. Accordingly, other information should be
used in addition to this material when making investment decisions.
 Products or devices presented include future technology which may be pending regional regulatory approval
and are not available for sale in all regions. This information is not intended for promotional or medical
advice use. Rather, it is provided to give examples of technology development by Olympus and noguarantees are made about the future sale of such products.
 Olympus Corporation assumes no responsibility for any damage resulting from the use of this material.

Page 2No data copy / No data transfer permitted

LCR48476V01

Consolidated Financial Results for Fiscal
2023

Fiscal 2023 (1) Consolidated Financial Results
1 Revenue: 18% consolidated growth. Record high for Medical business in 4Q and 12M. Double-digit growth for both ESD and TSD
2 Operating profit: Achieved adjusted operating margin of 20%, as set forth in 2019 Corporate Strategy. Record highs for both amount and ratio in 12M*
Full-year (Apr. to Mar.)Continuing operations**

Other income and expenses

Discontinued
operation
Continuing
operations***

Page 4(% of revenue)

Selling, general and administrative
expenses(% of revenue)
Operating profit

YoY

After FX
adjustment

FY2022

881.9

+18%

+4%

202.9

506.7
(67.6%)

596.8(67.7%)

+18%

+2%

357.5
(47.7%)

420.5(47.7%)

+18%

+7%

-3.0

10.3

750.1

Revenue
Gross profit

FY2023

FY2022(Billions of yen)

4Q (Jan. to Mar.)

1

-

-

FY2023

YoY

After FX
adjustment

240.4

+18%

+9%

140.6
(69.3%)

163.1(67.9%)

+16%

+3%

98.4
(48.5%)

114.5(47.6%)

+16%

+8%

1.7

-4.6

1

-

-

(% of revenue)

146.2(19.5%)

2

186.6(21.2%)

+28%

-3%

44.0
(21.7%)

44.0(18.3%)

0%-23%

Adjusted operating profit(% of revenue)

150.7(20.1%)

2

176.8(20.0%)

+17%

-12%

43.2
(21.3%)

48.7(20.2%)

+13%

-11%

Profit before tax(% of revenue)

141.7(18.9%)

182.3(20.7%)+29%

44.7(22.0%)

42.9(17.9%)-4%

Profit from continuing operations(% of revenue)

110.6(14.8%)

138.0(15.7%)+25%

27.7(13.6%)

32.4(13.5%)

+17%

5.3

5.6

+¥0.3 billion

0.5

2.9

+523％

Profit (loss)

116.0

143.6

+24%

28.1

35.2

+25%

Profit (loss) attributable to owners ofparent

115.7

143.4

+24%

28.1

35.2

+25%

¥90

¥113

Profit from discontinued operation

EPS

No data copy / No data transfer permitted--*From FY2009, when Olympus began disclosing thequarterly report.
**The figures from “Revenue” to “Profit fromcontinuing operations” represents continuing
operations.
***Since all shares of discontinued operation(Evident) were transferred in April 2023, a gain on
this share transfer is expected to be recorded in thefirst quarter of FY2024.

Dividend payment for FY2023
Year-end dividend of ¥16 pershareWe adopted an ambitious timeline out to 2023
We would unleash our potential by developing the organizational focus, operational
structure and employee mindset needed for long-term, sustainable growth.

3 Years (FY2021 to FY2023)

Transform to Perform

Focus and Simplify

To position Olympus optimallyfor profitable growth

To have immediate, early impact
on corporate performance

Performance impact in 3 years> 20% operating margin** Adjusted for extraordinary items

Page 5No data copy / No data transfer permitted

LCR48476V01

Shift to Grow
To capture growing value pools thatdrive long-term sustainable growthWe set and made progress against ambitious targets
Despite macroeconomic issues and Covid
lockdowns, grew topline 4.6%** CAGR
Sustain 5-6% growth annually

Deliver > 20% consolidated
corporate operating margin*

With significant profitability improvements and¥80billion share buyback, adjusted EPS growth***exceeded 25%.

Become a leader in the therapeuticareas where we compete (GI, Urology
and Respiratory)

Maintained investments in R&D at similar levels
to MedTech peers to ensure sustainable future
growth*Continuing business base. Adjusted for extraordinary items**Continuing business base. 3-year CAGR from FY2020 after FX adjustment***3-year CAGR from FY2020

Page 6

Doubled operating profit over 3-year
transformation and exceeded consolidated
operating margin 20%*

No data copy / No data transfer permitted

LCR48476V01

Transformed to a pure-play MedTech company

Beyond our New Horizon:
Leading as a global MedTech company
Olympus Corporation | President and CEO, Stefan Kaufmann | 12 May 2023

Executive Officers

Stefan KaufmannFrank Drewalowski

Gabriela Kaynor

Chikashi Takeda

Director, Representative
Executive Officer, andExecutive Chairman and
ESG Officer

Director, Representative
Executive Officer, President andChief Executive Officer

Executive Officer andEndoscopic Solutions
Division Head

Executive Officer andTherapeutic Solutions
Division Head

Executive Officer,
Chief Financial Officer

Nacho Abia

Tetsuo Kobayashi

André Roggan

Shigeto Ohtsuki

Pierre Boisier

Executive Officer andChief Strategy Officer

Executive Officer,
Chief Manufacturing
and Supply Officer

Executive Officer,
Chief Technology Officer

Executive Officer and Chief
Human Resources Officer

Executive Officer andChief Quality Officer

Yasuo Takeuchi

Page 8No data copy / No data transfer permitted

LCR48476V01

Guiding Principles
Patient safety andsustainability

1 prove confidence with regulators

Resolve pending commitments to the FDA,

2 Lead in organization health and ESG
Innovation forgrowththe Olympus brand, elevate the
3 Strengthen
experience of our customers
Grow our business through purposeful
4 innovation
and acquisitions

Productivity

a high performing organization focused
5 Build
on patient safety and product quality

6

Page 9Ensure simplicity and operational
efficiency

No data copy / No data transfer permitted

LCR48476V01

Making people’s
lives healthier,safer, and more
fulfilling.

Nothing is more important
than patient safety, so itgets our full focus.

QARA investments for Patient Safety and our future growth
Execute Transformation with the Aim of a Single Global
Quality System and Fully Harmonized Processes Build and implement a Single Global Quality System Develop streamlined digitally-enabled processes to support the global execution of the
Quality System, including Complaint Management & MDR, Process Validation, Design
Controls, Management Review, Internal Audit, Regulatory Commitment Tracking, etc.

Enhance Global Quality and Compliance Functions to
Ensure Consistent Execution

 Develop a robust organization and supporting processes to ensure consistent execution of
Quality System requirements, quality improvements, identification and resolution ofcompliance risks
 Integrate Quality Engineering and Quality Leadership organizations globally across all three
regions, manufacturing plants, repair and distribution centers

Resolve Compliance Issues and Complete Remediation
 Ensure all commitments to regulators are implemented on time meeting regulator’s
expectations

Page 11No data copy / No data transfer permitted

LCR48476V01

For a Sustainable Society

ESG six focus areas and materiality topics with top priorities

Compliance, ProductQuality and Safety

Healthcare Accessand Outcome

Responsible
Supply Chain

Healthy
Organization

Carbon Neutral Society
and Circular Economy

Corporate
GovernanceContribution to healthequity and accessQuality and safety
in product, service andsolution

Supply chain risk
mitigation and resilience

Diversity, equity andinclusion

Circularity through productstewardship, carbon
emissions (Scope1, 2and3)

Corporate governance andreporting transparency+20%

TimelyESG
disclosures

Annualassessment /monitoring

30%

Net-zeroEnterprise
Risk
Management

CRC* related training intarget emerging countries
and regions+20%

According to
SASB Standards

For multi-tier supply chain
risks* CRC: Colorectal cancer ** Olympus Corporation

No data copy / No data transfer permitted

100%

Eligible male employees inJapan** take parental leave
by FY26

CRC* related online / hybrid
training provided with
HCPs globally

Page 13Management positions
held by women by FY28
globally

LCR48476V01

Net-zero GHG emissions
across scope 1, 2 and 3
by 2040

CarbonNeutralIn our site operations
across scope 1 and 2 by2030

applied consistently
across the globe

Strategic Value Pools for Long-term
Sustainable GrowthFour value pools that will drive sustainable growth
We will continue to Focus on disease states where Olympus can have a market-leading impact and will
Shape and Enable future growth by investing in new ways to elevate the standard of care.

Past 3 Years (FY2021 to FY2023)

Shift to Grow
Focus and Simplify

Transform to Perform

Strategic value pools that drive long-term sustainable growthBusiness
and Global
Expansion

Page 15

No data copy / No data transfer permitted

LCR48476V01

Strategic
M&A

Care Pathway
Enhancement

Intelligent
Endoscopy
Ecosystem

FY24-26 Financials
Competitive growth along with steady value creation
Endoscopic Solutions Division

Revenue Growth*~ 5%

ESD 5%

Therapeutic Solutions Division

TSD >5%

CAGR from FY2023

EPS Growth**~ 8%

CAGR from FY2023~ 20 %

OP margin*** constant currency basis** Adjusted for extraordinary Items- Exclude “Other income / expenses”- No adjustment will be made for the impact of exchange rate fluctuations; actual exchange rate will be used

Page 16

No data copy / No data transfer permitted

LCR48476V01

Business andGlobal Expansion

Rise in cancer and other chronic diseases in our focus areas
drives demand for endoscopy-enabled procedures
Colorectal Cancer Incidence

Gastric Cancer Incidence

Lung Cancer Incidence

1,600(Thousands)

800(Thousands)

2,000(Thousands)

1,400

700

1,800

1,200

600

1,000

500

800

400

1,000

600

300

800

400

200

200

100

0

0

2020

2040

Bladder Cancer Incidence(Thousands)

500
450
400

1,600
1,400

600
400
200

2020

(Thousands)

300

120,000

250

200

60,000150

40,000Page 18

2040

0

2040

 Olympus is focused on decreasing cancer
recurrence through improved detection,
staging and therapeutic innovations

200

EU5**

150

Japan

100

US

50

20,0002020

2020

Kidney Stone Prevalence

140,000

80,00050

0(Thousands)

300

0

2040

BPH Prevalence

100,000

100 Olympus’ expertise in visualization,
maneuverability and ergonomics
uniquely positions us to expand ourleadership

1,200

350
250

 Olympus is an established innovator indeveloping solutions to enhance thestandard of care in these disease states

2020

2040

No data copy / No data transfer permitted

0

China
2020

2040

 Olympus offers a complete set ofcomplementary solutions and services
for infection prevention, repair andservice supported by highlyknowledgeable, dedicated sales
representatives*EU5: UK, France, Italy, Germany, Spain
Source: Epidemiology database, Cerner Enviza. Accessed Feb. 2023

We have a leading impact in large, fast-growing markets
GI

UrologyMarket Size

Market Size

Respiratory

GI Endoscopy

GI-Endotherapy

Upper Tract

Lower Tract

Market Size

¥300-400
billion¥350-450
billion¥240-300
billion¥160-200
billion¥100-150
billionMarket CAGR

Market CAGR

Market CAGR

Market CAGR

4-6%

No.

1

55% of ESD
revenue*

5-7%

No.

2

30% of TSD
revenue*

5-7%

5-7%

No.

2

30% of TSD
revenue*

Market CAGR

6-7%

No.

1

15% of TSD
revenue*

Our innovation pipeline will enable sustained market leadership in GI, Urology and Respiratory
Note: Served market scale and growth forecast information for this slide come from the Company‘s research and pertains to data for the USA, EU5 (Germany, UK, Italy, France, Spain), Japan and China, Market scale is as of March 31, 2023, Respiratory includes the impact of the Veran
Medical acquisition. Growth forecasts are projected for fiscal year 2023 to fiscal year 2026. This also applies to market data shown on slides below. Sub-segment sales ratios within ESD/TSD are figures of fiscal year 2023.
*Approx.

Page 19

No data copy / No data transfer permittedOur unique capabilities have led to differentiated solutions
along the care pathway
Precision
Treatment

Advanced
Visualization

Precision access and tissue
manipulation: TFL*, Plasma, ESD**“Making the invisible visible”

Elevating
the Standardof CareValue Added
SolutionsReprocessing, Repair,
Uptime Service* TFL = thulium fiber laser** ESD = endoscopic submucosal dissection

Page 20

No data copy / No data transfer permitted

LCR48476V01

At a Glance:
Transformed to a pure-play MedTech company
Therapeutic
Solutions Business36 %Endoscopic
Solutions Business

Other
Therapeutic
Areas

Gastrointestinal
Endoscopy

Urology
FY2023
Apr-MarRespiratory

¥

63 %

881.9 billion

GIEndotherapy

MedicalService

SurgicalEndoscopy

OthersPage 21

No data copy / No data transfer permitted

LCR48476V01

GI Endoscopy innovations in visualization, detection andendoscopes will continue to position us as a leader in the market
Market Size

Olympus
Care Focus

Main Sources of Revenue

CAGR FY24-26:
Mid single-digit %Future Growth Driver¥300-400
billion*

4-6% CAGRGI Endoscopy
EVIS X1TM
endoscopy system(incl. scopes)• Colorectal Cancer• Gastric Cancer

Olympus
Right to Win

Catalyst for Growth

Global expansion andadditional line-up for
EVIS X1TM endoscopy
systemComputer-Aided
Detection (CADe/x)
Workflow Management
Remote Maintenance >70% share* in colonoscopes, gastroscopes, duodenoscopes, and ultrasoundgastrointestinal videoscope.
 Strong growth for EVIS X1TM endoscopy system with US (FY2024) and China (FY2025)with ~70,000 legacy units potential for upgrades.
 Differentiated digital solutions and flexible service models will enhance the standard ofcare and provide future monetization opportunities.

Investments in AI and other digital health solutions will provide continued differentiation, improve patient
outcomes and workflow management* Addressable market, growth and Olympus position based upon publicly available data and Olympus research, and pertains to data for the USA, Germany, UK, Italy, France, Spain, Japan and China.

Page 22

No data copy / No data transfer permitted

LCR48476V01

GI-Endotherapy has built a differentiatedportfolio across several disease states
Market Size

Olympus
Care Focus

Main Sources of Revenue¥350-450
billion*CAGR FY24-26:
High single-digit %Future Growth DriverSingle-use
cholangioscope

ESD Knives

5-7% CAGR

To beunveiled• Colorectal cancer• HPB disease• Gastric disease

Olympus
Right to Win

Catalyst for Growth

ERCP, ESD,
Hemostasis andSampling devices

EndoClot
Metal stents

 ~20% global share* with double-digit growth in our ESD/EMR, EndoCuff, EndoClot
portfolios.
 Acquisition** of broad metal stent portfolio will significantly accelerate our global
position and options in biliary tract, esophagus, colon, and duodenum treatments.
 Single-use cholangioscope will enhance clinician optionality.

Continued market adoption of new product launches plus the recently announced acquisition2 of metal
stent portfolio will drive high-single digit growth* Addressable market, growth and Olympus position based upon publicly available data and Olympus research, and pertains to data for the USA, Germany, UK, Italy, France, Spain, Japan and China.** Acquisition of Taewoong medical Co., Ltd,: Closure pending

Page 23

No data copy / No data transfer permitted

LCR48476V01

Urology delivering strong growth in stone management with
innovative solutions that improve clinical outcomesMarket Size

Olympus
Care Focus

Main Sources of Revenue¥240-300
billion*TFL lithotripsy
fibers

5-7% CAGR**

Upper tract(Kidney, Ureter, + Bladder)

Ureteroscopes &legacy lithotripsy
system fibers

Stone Management

Olympus
Right to Win
CAGR FY24-26***:
High single-digit %Catalyst for Growth

Future Growth DriverSingle-use
ureteroscope
To beunveiled

SoltiveTM SuperPulsed
Laser System

 #1 in reusable ureteroscopes - launch of Single-use ureteroscope will
expand clinician options.
 Portfolio of Laser and Ultrasonic lithotripsy systems enables share capture
 #1 in Thulium Fiber Laser lithotripsy systems (SoltiveTM SuperPulsed Laser
System) and fibers.

Portfolio expansion in our Soltive platform and the launch of a Single-use ureteroscope will provide
sustainable long-term growth* Addressable market, growth and Olympus position based upon publicly available data and Olympus research, and pertains to data for the USA, Germany, UK, Italy, France, Spain, Japan and China. / ** CAGR for the total market of upper and lower tract categories. / *** On an Olympus Urology/Gynecology consolidated basis.

Page 24

No data copy / No data transfer permitted

LCR48476V01

Leading position in cystoscopes and resectoscopes fueling
growth in lower tract urology
Market Size

Olympus
Care Focus¥160-200
billion*

5-7% CAGR**

Main Sources of Revenue

Catalyst for Growth

Future Growth Driver

Bipolar resection
electrodes

Lower tract(Bladder + Prostate)
Benign Prostate Hyperplasia +Bladder Cancer

Olympus
Right to Win
CAGR FY24-26***:
High single-digit %Cystoscopy

PLASMA+TM resection
generator and PLASMA+
consumables

iTindTM – Minimally Invasive BPH
device>150K procedure market
growing at 18% CAGR Existing market leading position in cystoscopes, resectoscopes, andresection electrodes
 PLASMA+ system designed to shorter procedure times
 Expanded reimbursement for differentiated MIS BPH device which provides
better clinical outcomes and elevates the standard of care****note1 Refer to the following study on iTind: Chughtai et al., 2020; Amparore et al., 2021; De Nunzio et al., 2021
note2 Implantation of the iTind device may cause pelvic discomfort, blood in urine, painful or urgent urination. In rare cases, the iTind device may cause urinary tract infection or a sudden difficulty to urinate.

Market leading PLASMA+ resection system plus new minimally invasive BPH device will
deliver consistent growth* Addressable market, growth and Olympus position based upon publicly available data and Olympus research, and pertains to data for the USA, Germany, UK, Italy, France, Spain, Japan and China. / ** CAGR for the total market of upper and lower tract categories. / *** On an Olympus Urology/Gynecology consolidated basis. /**** iTind procedure does not require a permanent implant and preserves sexual function and continence, while reducing the need for a post procedure catheter. Procedure can be done in the MD office setting.

Page 25

No data copy / No data transfer permitted

LCR48476V01

Respiratory segment will transform with technologies thatenable access to the periphery with real time sampling
Market Size

Olympus
Care Focus

Main Sources of Revenue¥100-150
billion*EBUS
bronchoscope

Catalyst for Growth
EBUS-TBNA**
needles

Slim EBUS
scope

6-7% CAGR

To beunveiled• Lung cancer• Benign pulmonary disease(COPD)

Olympus
Right to Win
CAGR FY24-26:
Mid single-digit %Future Growth Driver

EVIS X1TM endoscopy
system targets Installedbase of 15K platforms

Single-use airway
management
scopesSPiNnavigation
guidance

 >70% share* in pulmonary and EBUS bronchoscopes Leading market position for pulmonary endotherapy and EBUS-TBNA
needles Slim EBUS will enable access to suspicious lesions beyond the central /middle lung regions

EVIS X1 platform upgrades and extension of EBUS portfolio which will expand clinical applications thereby
driving sustainable growth for the next few years* Addressable market, growth and Olympus position based upon publicly available data and Olympus research, and pertains to data for the USA, Germany, UK, Italy, France, Spain, Japan and China. / ** Endobronchial ultrasound-guided transbronchial fine needle aspiration (EBUS-TBNA).

Page 26

No data copy / No data transfer permitted

LCR48476V01

Single-use endoscopes complement our portfolio providing
the right scope for the right situation at the right timeFirst single-use scope
launched FY22

Growing market for
single-use endoscopes

Bronchoscope

15-18%CAGR between
2020 and 2030*

No data copy / No data transfer permitted

Rhinolaryngoscope

Duodenoscope
Cholangioscope

UreteroscopeSingle-use scopes will incrementally add~ ¥ 10 billion revenue by FY26

* Served market projection by Olympus

Page 27

More launches planned for FY24 – FY26

LCR48476V01

Regional expansion of EVIS X1 as our growth driver:Obtained 510(k) clearance for the U.S. market
EVIS X1TM endoscopy system launched in
EU/AP/JP markets with opportunity to grow globally
Expected growth
opportunity for EVIS X1
endoscopy system

EVIS X1 endoscopy
system sales start inJapan, Europe andAsia-Pacific

CAGR in first 5 years
after launch

EVIS X1 endoscopy systemshare of global
GI Endoscopy net sales

7.4%** Historical performance of previous generation(180/ 260 series to 190/ 290 series)~ 10%

Potential for replacing
the previous model~ 5%

units*

FY21

70,000

FY22

~ 12%

FY23

* Unit sales of previous generation video

processor (CV-190 and CV-290)

Note: Products or devices presented include future technology which may be pending regional regulatory approval and are
not available for sale in all regions.

Page 28

No data copy / No data transfer permitted

LCR48476V01

AmericasObtained 510(k)clearance. Launchplanned in FY2024** Europe excluding part of CIS

Europe**Sales started
in FY2021*** Asia-Pacific excluding some countries/ areas

China

Pending regulatory
approval (targeting
FY2025)Asia-Pacific***
Sales started
in FY2021

Japan

Sales started
in FY2021

Growth opportunities in China remain unchanged
China % of global sales

Other
regions(¥ Billion)

in FY23

120*Approx.

China

Invest in clinician education and training
Revenue

140
100

13%
4.3

Expand comprehensive training to endoscopists to support procedural
quality and efficiency and elevating screening awareness for stomach &colorectal cancer

1H

2H

Assess unmet needs from Chinese HCPs

times

Capture HCPs inputs and market insight in China for future productdevelopments

80
60

Local Manufacturing Strategy

40Prepare local manufacturing site in Suzhou, China, to offer “Made in
China” products for local market.

20
0

Page 29

Despite short-term fluctuations, we continue to expand ourbusiness in China with long-term high single-digit growth
aspirations by focusing on the expansion of diagnosis in reducing
cancer mortality rates, as an important market.

No data copy / No data transfer permitted

LCR48476V01

Strategic M&A

We will prioritize tuck-in M&A capital deployment to transform clinicaland procedural workflows, enhance care, and to expand geographically.

We are an establishedacquirer and investor,
deploying ¥ 140 billion
in capital in the past
four years**Taewoong: Closure pending

We will focus on tuck-ins in core or high-growth adjacencies
Page 31

No data copy / No data transfer permitted

LCR48476V01

Care Pathway
Enhancement

Expectations for patient care are shifting

We will focus on enhancing
patient care pathways
where Olympus can elevatethe standard of care.
Early Detection

Page 33

Characterization,
Diagnosis & Staging

No data copy / No data transfer permitted

LCR48476V01

Treatment

Post ProcedureEnhancing the care pathway in key therapeutic areas
Focus and Solutions

Colorectal
CancerEndoCuff
ENDO-AIDCAD*TM

EVIS X1
endoscopy system

Early Detection

EVIS X1
endoscopy
systemCADe* EndoCuff

Designed to increase ADR** which
may lead to early detection***Characterization,
Diagnosis & Staging

Treatment

ForcepsSnaresCADx(Computeraided
diagnosis)

DualKnife™ J
knife

EndoClot

CystoscopeCentral / Middle

Lung Cancer

Bronchoscope
Navigation
guidance

Note: NBI and RDI are registered trademarks of the Olympus Corp but defer to legal on all
trademarking requirements and language.

Page 34

No data copy / No data transfer permitted

OfficeSurgery

iTind

PLASMA+ Soltive &EMPOWER

Expands addressable patient population
with less invasive treatment option

ITind

EBUS scopes and
TBNA needles

EZ Clip™
hemostasis
clip

Designed to enhance safety andeffectiveness of bleeding control during
and post-procedure* Computer-aided detection/ diagnosis

Benign
Prostatic
Hyperplasia(BPH）

EndoClot®
PHS

LCR48476V01

EBUS
EBUS-TBNA

Periphery

Slim EBUS
Navigation
guidance

Improves ability to detect lungcancer at an early stage
Existing Olympus Solution

Unmet Need addressed by new Olympus solution** ADR = adenoma detection rate *** Data on File with Boddingtons Plastics Ltd.

Bronchoscopy enabled therapies:
RF & microwave ablation

Intelligent
Endoscopy Ecosystem

To meet healthcare challenges, elevate our unique capabilities
To meet these challenges, we will elevate our unique capabilities withnew breakthrough innovations

Chronic disease patients and theircare providers expect continued
improvements and outcomes at alower total cost of caree.g., advanced endoluminalinterventions with smart guidanceand controle.g., AI powered clinicaldecision support

Intelligent
Cognitive Support

Elevating
the Standardof CareBetter Outcomes
Better Patient Experience

Value-Added Solutions

Better Care Team Experience

Intelligent Insights& Solutions

Lower Total Cost of CareNo data copy / No data transfer permitted

Advanced Visualization

Intelligent
Guided Treatment

Quadruple aim ofhealthcare

Page 36

Precision Treatmente.g., data-enabled advanced
value solutions andcommercial models

LCR48476V01

We will shape a new era of intelligent, AI-powered endoscopyWith these elevated capabilities and our strong market position, we will shape a new era of GI endoscopy
Era of optically enhanced endoscopy(ability to take pictures inside the body)Era of enhanced resolution andvisualization

Era of intelligent, AI-powered endoscopy
with enhanced cognitive support software

Workflow

CAD

Insights

Video
Endoscopy

Gastrocameras and Fiberscopes

Page 37

No data copy / No data transfer permitted

LCR48476V01

HDTV
SystemEnhanced

Future AI-powered Endoscopy

Intelligent ecosystem enabled by new, modern software platform
and business modelStandardized User Experience

Workflow
Management(start with Endoscopy)

CAD and Realtime Procedure
SupportAI Clinical &Operations
Insights

Other
Applications

Olympus
ModulesOlympus
ModulesOlympus
ModulesOlympus
ModulesPartner Modules

Partner Modules

Partner Modules

Partner Modules

Operating Software Platform
IOT and Advanced Connectivity Solutions
Olympus Hardware Devices
Page 38

No data copy / No data transfer permitted

LCR48476V01

Standardized user experienceCombination of OLY owned andpartner-developed modules



Business Model for digital
ecosystemCloud-based
Updates and innovation nolonger limited by hardwareClinical & operations datacollected and analyzed acrossthe hospital

Devices connected with
operating software platform

Activities to Enable Investments andInnovation

Activities to enable investments and innovation

 QARA – functionaltransformation globally

Execute Quality and Regulatory
functional transformation withthe aim of one global quality
systemIntegrate Global Quality andCompliance Functions to ensure
the consistent execution
Resolve compliance issues andcomplete remediation

 Mfg & SCM – opportunity
for COGS improvements

 R&D – investments toaccelerate innovation


Apply an unmet need-oriented
innovation approachRight investments for future toensure an innovation engine

Pro-actively seek strategic
partnerships



Accelerate time-to-market

Improve efficiency and cost to
apply a fit-for-purpose
organization and processesActions include site andresource streamlining, fasttrack efficiencies,
procurement and supply chain
best-practices, and benefits fromdigitization

 Global TOM – efficiencies
by an improved operations
Further fine-tune our global
governance and operation toestablish a high-performing
organization of a global medical
company that unlocks capital todrive innovation

Enable cross-functional andeffective decision-making, withefficient resource allocation
and rigorous execution to fund &deliver key projects

Ensure patient safety according to the highest industry standards
Page 40

No data copy / No data transfer permitted

LCR48476V01

TOM = target operating modelFunding our journey and invest to create value for all stakeholders

Funding the journey

Invest to create value

Sales“Growth story”
ESD and TSD

VALUE

COGS
Manufacturing
Transformation

Customers & Patients

SGA

EPS

ESG

Productivity

Page 41

No data copy / No data transfer permitted

Patient safety
Innovation
Organization
enablement
Shareholder value

LCR48476V01

Financial GuidanceFY24-26 Financials
Competitive growth along with steady value creation
Endoscopic Solutions Division

Revenue Growth*~ 5%

ESD 5%

Therapeutic Solutions Division

TSD >5%

CAGR from FY2023

EPS Growth**~ 8%

CAGR from FY2023~ 20 %

OP margin*** constant currency basis** Adjusted for extraordinary Items- Exclude “Other income / expenses”- No adjustment will be made for the impact of exchange rate fluctuations; actual exchange rate will be used

Page 43

No data copy / No data transfer permitted

LCR48476V01

Capital Allocation
Prioritize allocation to business investment
Stable and gradual dividend increase
Flexible buyback of company sharesBusiness

Page 44

Prioritize
Prioritize:

Investment

 Investment for profitable, organic growth Strategic investment for growth opportunities

Shareholder

Dividends

Stable and gradual dividend increase in line with medium
to long-term business performance

Returns

Buyback

Flexible buyback of company shares based on investment
opportunities and cash / financial conditions

No data copy / No data transfer permitted

LCR48476V01

Direction of Business Investment and Shareholder Returns
FY2021 – FY2023 Actual

(JPY)

223.0

R&D

• Investment for
profitable, organic
growth• Strategic investment
for growth
opportunities

227.0

¥

135.0

• Buyback¥

15.4

billion¥ 12.0 per share

－

¥

¥

17.8

Focus on tuck-in M&A

billionFY2022billion¥ 14.0 per share

in FY26

Maintain similar level

Acquired 7 companies for

M&A• Dividends
Increase gradually

8.5%

billion¥FY2021 - FY2023 total

FY2021

Shareholder
Returns

Ratio to revenue from 8% in FY23 to¥billionFY2021 - FY2023 total

CAPEX

Business
Investment

FY2024 – FY2026 Forecasts

FY2023

20.1¥
billion¥ 16.0 per share

30.0 billion ¥ 50.0 billion

FY2024¥22.6

billion¥ 18.0 per share

FY2024 – FY2026

67.8

over ¥
billionFY2024 - FY2026 total
Share Buybacks and improve capital efficiency

over ¥

100.0 billion

Invest in growth and productivity to improve cash generation and enhance shareholder returns
Page 45

No data copy / No data transfer permitted

LCR48476V01

Forecasts for Fiscal 2024

Fiscal 2024 Consolidated Forecasts
1
2
3
4

Revenue:
Adjusted Operating profit:
Profit**:Shareholder returns:

Expected to achieve ¥914 billion, up 4% YoY (up 5% after FX adjustment)
Expected to achieve ¥182 billion, up 3% YoY (up 6% after FX adjustment)
Expected to reach a record high of ¥336 billion due to a gain on transfer of Scientific Solutions Business. EPS: Expected to grow 141% to ¥273
Annual dividend plan to increase by ¥2/share YoY to ¥18/share. Share buyback of approx. ¥100 billion expected
FY2023(Billions of yen)

881.9

Revenue
Gross profit

Continuing operations**

vs FY2023

After FX adjustment

914.0

+32.1

+4%

+5%

596.8
(67.7%)

627.0(68.6%)

+30.2

+5%

+7%

Selling, general and administrative expenses(% of revenue)

420.5(47.7%)

446.0(48.8%)

+25.5

+6%

+7%

10.3

-18.0

-

-

-

(% of revenue)

186.6(21.2%)

163.0(17.8%)

-23.6

-13%

-9%

(% of revenue)

176.8(20.0%)

182.0(19.9%)

+5.2

+3%

+6%

(% of revenue)

182.3(20.7%)

159.0(17.4%)(% of revenue)

138.0(15.7%)

115.0(12.6%)

5.6

221.0

Operating profit
Adjusted operating profit
Profit before tax
Profit from continuing operations

Discontinued
operation

Continuing
operations

Page 47

Change(% of revenue)

Other income and expenses***

1

FY2024 Forecasts

Profit from discontinued operation
Profit (loss)
Profit (loss) attributable to owners of parent
EPS

No data copy / No data transfer permitted

143.6

2

3

336.0

143.4
(16.3%)

336.0(36.8%)

¥113

¥273

*Profit attributable to owners of parent. Figures through FY2016 arebased on Japanese GAAP (JGAAP) and figures from FY2017 onward
are based on IFRS.
**The figures from “Revenue” to Profit from continuing operations”
represents continuing operations.
***Since all shares of discontinued operation (Evident) were transferredin April 2023, a gain on this share transfer is expected to be recorded in
the first quarter of the fiscal year ending March 31, 2024.

Dividend forecast for FY2024

4 Year-end dividend of ¥18 per share

Fiscal 2024 Forecasts by Business Segment
12

Medical:

Revenue expected to reach a record high. EVIS X1 has already received 510(k) clearance from the U.S.
Food and Drug Administration (FDA). Launch in the U.S. is scheduled for the middle of FY2024
Discontinued Operation: Expected to achieve a significant profit increase due to a gain on transfer
FY2023(Billions of yen)

ESD
TSD
OthersElimination and Corporate
Consolidated Total(Reference) Discontinued
Operation

FY2024 Forecasts*

1

Changevs FY2023

After FX adjustment

572.0

+20.2

+4%

+5%

158.0

+5.2

+3%

+6%

329.0

+10.8

+3%

+5%

Revenue

551.8

Operating profit

152.8

Revenue

318.2

Operating profit

63.7

56.0

-7.7

-12%

-8%

Revenue

11.9

13.0

+1.1

+9%

+8%

Operating profit(loss)

-0.9

1.0

+1.9

+¥1.9 billion+¥1.9 billion

Operating profit(loss)

-28.9

-52.0

-23.1

-¥23.1 billion-¥23.2 billion

Revenue

881.9

914.0

+32.1

+4%

+5%

Operating profit

186.6

163.0

-23.6

-13%

-9%

Revenue135.4

0-135.4

-

-

347.0

+340.0--Operating profit(loss)

7.0

1

2

*Since all shares of discontinued operation (Evident) were transferred in April 2023, a gain on this share transfer is expected to be recorded in the first quarter of the fiscal year ending March 31, 2024.

Page 48

No data copy / No data transfer permitted

We want to be recognized by healthcare
professionals, patients and regulators for thequality, value and innovation of our people
and products and are committed to deliver
value to all our stakeholders.