39th annualJ.P. Morgan healthcare conference

Olympus Corporation | Director, Representative Executive Officer, President and CEO | Yasuo Takeuchi | 14 January, 2021

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 beused in addition to this material when making investment decisions.
 Olympus Corporation assumes no responsibility for any damage resulting from the use of this material.

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01

We’re Olympus

02

Accelerating transformations

03

Strengthening Medical Footprint

01

We’re Olympus

Our Philosophy

OUR PURPOSE

Making people’s lives healthier,safer and more fulfilling
In line with our Corporate Philosophy, we areevolving our corporate culture to be competitive andperformance-driven and focusing on creating
value to our customers

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Revenue by Business Divisions*（Continuing Operation）
13.9%

Scientific Solutions
56.4%

Endoscopic Solutions

28.6%

FY2020**

Therapeutic Solutions*The closing of divestiture of imaging business was completed on January 1, 2021**Figures are before the audit

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We Are Committed to Deliver Ambitious Target

Sustain

Our aspiration
is to become a globally-leading
medtech company contributing topeople’s lives by delivering
innovative solutions that benefit
patients, healthcare
professionals, payors andproviders*Adjusted for extraordinary items

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5-6% growth annually>20%

consolidated
Delivercorporate operating margin*leaders

Becomein the therapeuticareas where we compete(GI, urology and respiratory)

02

Accelerating Transformations

We are Walking the Talk
Accelerating transformations to become a leading global medtech companyDivestiture of Imaging Business
Achieved Significant SG&A efficiency improvements
Transforming to become Purpose-Driven Organization
Strengthening global and med-tech professional density
Long-waited launch of EVIS X1 in EMEA, Japan, and some parts of Asia
Proactive M&As to strengthen Therapeutic Business(Arc Medical Design Limited and Veran Medical Technologies)

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We are Walking the Talk
Accelerating transformations to become a leading global medtech company

Divestiture of Imaging Business
Achieved Significant SG&A efficiency improvements
Transforming to become Purpose-Driven Organization
Strengthening global and med-tech professional density
Long-waited launch of EVIS X1 in EMEA, Japan, and some parts of Asia
Proactive M&As to strengthen Therapeutic Business(Arc Medical Design Limited and Veran Medical Technologies)

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Divestiture of Imaging Business
Focusing on investments in corporate resources for our growth area of medical Completed divestiture of imaging business on Jan.1, 2021
Dec. 31, 2020

Endoscopic Solutions

Endoscopic Solutions

Therapeutic Solutions

Therapeutic Solutions

Scientific Solutions

Scientific Solutions

ImagingPage 11Jan.1, 2021

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Achieved Significant SG&A Efficiency Improvements¥32.5 billion reduction (7% decrease) from FY2019
Continuing operation + Discontinued operation(Billions of yen)

Continuing operation(Billions of yen)- ¥32.5 bn- ¥15.2 bn
426.6

437.5
405.0

FY2018FY2019FY2020381.2

FY2020*366.0
FY2021 (Forecast) SG&A expenses reduced ¥32.5 billion YoY, and achieved significant efficiency in FY2020
 We expect to reduce SG&A expenses by approx. ¥15.0 billion YoY in FY2021*Figures are before the audit

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Transforming to become Purpose-Driven Organization
Implementation of the Career Support for external opportunity in Japan:
Streamlining the Organization

Pre-Requisite for Success Live by Our Purpose Diversity and Open Culture Agility to Respond Ability to Compete

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Strengthening Global and Medtech Professional Density
Bringing More Global and Diversity Perspective
経営戦略に沿った取締役構成とグローバル専門人材登用の促進
Appointing and assigning talent regardless ofnationality, age, or gender

Develop medical affairs and QA/RA

Percentage changes of non-Japanese professionals in leadership roles

Ross D. Segan, M.D.
Chief Medical Officer
Improving clinical outcomes forpatients, quality of life and thepatient experience
3 out of 22

9 out of 29

Daniel Khalili
Chief Quality Officer

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2019

2020

As of March 1, 2019

As of October 1, 2020

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Innovating R&D and strengthen
QA/RA

03

Strengthening Medical FootprintWe are Walking the Talk
Accelerating transformations to become a leading global medtech company

Divestiture of Imaging Business
Achieved Significant SG&A efficiency improvements
Transforming to become Purpose-Driven Organization
Strengthening global and med-tech professional density
Long-waited launch of EVIS X1 in EMEA, Japan, and some parts of Asia
Proactive M&As to strengthen Therapeutic Business(Arc Medical Design Limited and Veran Medical Technologies)

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Medical needs remain unchanged
Early diagnosis and minimally invasive treatment are our strengths

Gastrointestinalendoscopy systems

Detection

Magnifying endoscopes
Ultrasound endoscopes

Diagnosis
Early Diagnosis

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Biopsy forceps
Cytology brushes

Biopsy / Collection

Endotherapy devices

Endoscopic therapy

Surgical endoscopy
systems

Endoscopic surgery

Minimally Invasive Treatment

Surgical energy devices

General surgery

Key Product Catalysts: Endoscopic Solutions (As of Dec.31, 2020)
Corporate Strategy of ESD : Further strengthen leadership in endoscopy
Maintain leadership inconventional endoscopy
through continued innovationand commercial excellence
Growth driver now

Complement our portfolio withsingle-use endoscopes
to provide a comprehensive set ofproduct offerings

Just launched / Coming soon

Beyond~6%
revenuegrowth

GI endoscopy

GI endoscopy

GI endoscopy EVIS LUCERA ELITE (Japan, China)
 EVIS EXERA III (US, EU)

 EVIS X1 (EU, Japan)
 TJF-Q190V, duodenoscope (US) ENDO-AID, endoscopy CAD platformfor EVIS X1(EU) EVIS X1(US, China)
 3D function for EVIS X1
 Single-use duodenoscope

Surgical endoscopy VISERA ELITE II (US, EU, Japan)
 VISERA ELITE (China)
 VISERA 4K UHD (US, EU, Japan,China)

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Surgical endoscopy VISERA ELITE II (China)
 New generation surgical endoscopy
system(EU, Japan)

CAGR in ESD(FY2021-FY2023）

Strengthen Leadership in Endoscopy with EVIS X1
Long-Waited New Generation System to Drive Sales

70,000units

Potential for replacing
the previous model**Unit sales of CV-190 and CV-290

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Key Product Catalysts: Therapeutic Solutions (As of Dec. 31, 2020)
Corporate Strategy of TSD : Focus and scale our TSD businessGI endotherapy
Expand and accelerate
portfolio in existing productcategories and exploregrowth opportunities inadjacent areas

Urology
Establish leadership in
BPH and enhance
position in stone
management throughportfolio expansion

Respiratory endotherapy
Strengthen leadership by
capturing the BLVR* marketand expand opportunities inearly diagnosis andtreatment of lung cancer~8%Growth driver now

Just launched / Coming soon

BeyondGI endotherapy

GI endotherapy

GI endotherapy

 Visiglide series
 ESD Knife
 EZ Clip / QuickClip Pro
 EndoJaw 5 products (US) 5 products (EU) 10 products (Japan)
 5 products (China)

 Single-use cholangioscope Single-use ureteroscope

CAGR in TSD

Urology

Urology(FY2021-FY2023)

 Resection electrode iTind, non-surgical device for Benign
Prostatic Hyperplasia (US, EU) SOLTIVE SuperPulsed Laser System,stone lithotripsy system (US, EU)

Respiratory endotherapy

Respiratory endotherapy ViziShot series

Respiratory endotherapy Electromagnetic Navigation system (US)*Bronchoscopic Lung Volume Reduction

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Urology Single-use bronchoscope

revenuegrowthStrategic Acquisition of Arc Medical Design Limited
Contribute to maintain visibility in colonoscopy and endoscopic polypectomy
ENDOCUFF VISION™

Adenoma Detection Rate

+11%

35%
30%

ADR (%)

25%
20%

33%

15%
10%

22%

5%0%StandardColonoscopy

Colonoscopy withENDOCUFF
technology

Increases the adenoma detection rate by up to11% (result of meta-analysis)for every 1,000 patients screened, it is estimatedthat up to 110 patients with an adenoma could
have been additionally identified using theENDOCUFF technology*
1% Increase in ADR Leads To:
 3% decrease in the risk of interval cancer.**
 5% decrease in the risk of a fatal intervalcolorectal cancer.**

Widely tested in 12 randomized controlled trials with more than 8,000
patients and 140 colonoscopists, plus experts and endoscopists**Effect of Endocuff-assisted colonoscopy on adenoma detection rate: meta-analysis of randomized controlled trials(PMID: 29698990 DOI: 10.1055/a-0577-3500)**Adenoma Detection Rate and Risk of Colorectal Cancer and Death(N Engl J Med 2014; 370:1298-1306 DOI: 10.1056/NEJMoa1309086)

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Grow Respiratory Portfolio with Acquisition of Veran Medical Technologies
Lung cancer affects the highest number of cancer patients and is the leading
cause of cancer-related deaths globally*>70%
Our market share ofbronchoscope

BronchoscopeElectromagnetic Navigation System*WHO data: https://www.who.int/news-room/fact-sheets/detail/cancer

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Olympus’ wide lineup of bronchoscopes and VMT’s uniqueelectromagnetic navigation system realize great synergies

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No data copy / No data transfer permittedOur Journey to Transform into a Truly Global Medtech Company

FY2023
FY2022
FY2021
Committed to Corporate Reforms
 Focus the corporate portofolio
 Structural reform of fixed costs Successful launch of next-gen GI
endoscopy system EVIS X1
 Continued steady investment in productdevelopment for future growth Driving efficiency in our R&D operations*Adjusted for extraordinary items

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No data copy / No data transfer permitted>20%

Return to Growth andContinue Transformation

Deliver Introduction of EVIS X1 in U.S. and sales
expansionconsolidated corporate
operating margin* Scale our TSD business including M&A
 Global Business Services