Among the information that Terumo discloses, the forward-looking statements including financial projections arebased upon our assumptions using information available to us at the time and are not intended to be guarantees offuture events or performance. Accordingly, it should be noted that actual results may differ from those forecasts orprojections due to various factors. Factors affecting to actual results include, but are not limited to, changes ineconomic conditions surrounding Terumo, fluctuations of foreign exchange rates, and state of competition. The
market share information in this presentation is partly derived from our own independent research. Information
about products (including products currently in development) which is included in this material is not intended toconstitute an advertisement or medical advice.

Terumo CorporationMay 14, 2021

Q&A Session at the Financial Results Briefingfor the Fiscal Year Ended March 31, 2021
Outlined below are the principal Q&As from the financial results briefing on May 12, 2021. Certain
details have been expanded or modified to provide readers with a deeper understanding of Terumo
Corporation’s performance and activities.
Q1: Regarding the profit variance analysis for FY2021 guidance, how do you expect this chart
to change in case of the best-case scenario of 680 billion JPY; rather than the worst-casescenario of 670 billion JPY?
A1: In terms of the amount, we anticipate the weighting toward “Gross profit increment by salesincrease” will grow larger, while expecting an increase in SG&A expenses to some degree accordingly.
Q2: Where are the costs related to plasma collection collaboration with CSL Plasma in theprofit variance analysis for FY2021 guidance? In addition, you anticipate an “SG&Aincrease” of 13.5 billion JPY. What are the factors for this increase?
A2: The costs related to collaboration with CSL Plasma in plasma collection are classified in “Others.”
Regarding the “SG&A increase,” we anticipate incurring expenses mainly for marketing activities
along with the revenue increase.

Q3: Regarding the national tender in China, the rate of decline from the retail price ofdrug-eluting stents (DES) is said to be -93%. To what extent was Terumo impacted by thisdrop in price? Also, since the price drop of DES would negatively impact incentives of themedical front, has the number of Percutaneous Coronary Intervention (PCI) procedures
been declining since the end of last year?
In addition, in the financial earnings call for the third quarter, you cited that China plans tohold tenders for other products heading into FY2021 (PTCA balloon catheters and PTCA
guidewires). Can you provide an update, if any?
A3: In the national tender for DES held in early November 2020, the selling price from Terumo to
distributors dropped by a little less than 80%. Regarding the decline in PCI procedures due to pricedrops, we have not heard from the frontline that it is happening. The purpose of the tender was toimprove accessibility of healthcare; not just reduce healthcare expenditures. We also understand that
there are some incentives for hospitals introduced to increase the number of procedures. In either case,we will closely monitor the situation going forward.

Among the information that Terumo discloses, the forward-looking statements including financial projections arebased upon our assumptions using information available to us at the time and are not intended to be guarantees offuture events or performance. Accordingly, it should be noted that actual results may differ from those forecasts orprojections due to various factors. Factors affecting to actual results include, but are not limited to, changes in
economic conditions surrounding Terumo, fluctuations of foreign exchange rates, and state of competition. The
market share information in this presentation is partly derived from our own independent research. Information
about products (including products currently in development) which is included in this material is not intended toconstitute an advertisement or medical advice.

Regarding the tenders for PTCA balloon catheters at the province level, we expect that our selling
price to distributors will fall by 50 to 60%. The province-level tender for PTCA guidewires has yet tobe fully started, so our current assumption is for our selling price to distributors to fall only about 20%
given the original price for this product is lower compared to that of DES or PTCA balloon.
Q4: In regard to collaboration with CSL Plasma in plasma collection, how large do you
anticipate the revenue to be? Should we consider the risk of price erosion due to pricecompetition caused by Terumo’s market entry?
A4: At present, we expect this business to earn more than 10 billion JPY revenue annually. Since it isa B2B business involving low SG&A expenses, looking at the mid to long term, we expect a slight
improvement in the adjusted operating profit ratio of today’s Blood and Cells Technologies Company.
As a result, we anticipate that this will boost the profit ratio for the whole group as well.
Regarding price erosion, we anticipate a certain degree of impacts due to changes in the competitive
landscape, but after taking this risk into account, we believe the profit ratio will increase as mentionedabove.
Q5: As for the collaboration with CSL Plasma in plasma collection, how do you anticipate
sales will increase through stages?
A5: During the changeover, the systems at all plasma collection centers nationwide in the UnitedStates will need to be replaced quickly. Therefore, when the changeover is conducted well, thebusiness will take off relatively in a short period of time, thus contributing to financial results. We are
now making preparations to ensure such a smooth changeover.
Q6: As for the collaboration with CSL Plasma in plasma collection, how does the plasmacollection system provided by Terumo differ from the current products?
A6: Details of the plasma collection system’s functions cannot be disclosed because we have not yet
obtained the commercial approval of this product. In general, however, we aim to realize technologies
which are more comfortable and efficient for both donors and healthcare professionals.

Q7: In regard to the collaboration with CSL Plasma in plasma collection, is there a possibilityof collaboration with other companies in the future? Will Terumo be expanding this to regions
outside of the United States?
A7: Although we cannot disclose contract specifics, we would like to consider the future potential forexpansion in both ways. On the other hand, this marks the first time that Terumo will enter the plasmacollection business; therefore, first, we will focus on successfully deploying our system at the more

Among the information that Terumo discloses, the forward-looking statements including financial projections arebased upon our assumptions using information available to us at the time and are not intended to be guarantees offuture events or performance. Accordingly, it should be noted that actual results may differ from those forecasts orprojections due to various factors. Factors affecting to actual results include, but are not limited to, changes in
economic conditions surrounding Terumo, fluctuations of foreign exchange rates, and state of competition. The
market share information in this presentation is partly derived from our own independent research. Information
about products (including products currently in development) which is included in this material is not intended toconstitute an advertisement or medical advice.

than 280 collection centers operated by CSL Plasma in the United States.
Q8: (About the CEO presentation) Overseas competitors are aggressively entering thecontinuous glucose monitoring device (CGM) market. How does Terumo view the CGM and SelfMonitoring of Blood Glucose (SMBG) markets? In addition, is it safe to assume that Terumo

will follow a strategy seeking to expand overseas using MEDISAFE WITH?
A8: At present, there are various ways of looking at CGM, but highly accurate SMBG devices
continue to receive high marks, and from a long-term perspective, we believe the strengths of SMBG
will continue to be in demand. As a result, we don’t believe that the SMBG market will contract
significantly in the future.
In addition, the insulin patch pump MEDISAFE WITH has been added to Terumo’s lineup of diabetes
management products, which should generate synergies with other diabetes related products andalgorithms. We believe in a possibility to provide new solutions in a comprehensive package.
Q9: (About the CEO presentation) How do you view the diabetes market in China? Inaddition, during the presentation, the CEO provided a vision for 10 years into the future.
What does Terumo aim to achieve as important milestones over the next several years?
A9: We believe that China offers very large potential in terms of the diabetes market. We would liketo explore future opportunities while moving ahead with B2B business in the meantime.
There are three milestones over the next several years. First is rolling out DexCom’s G6 in Japan. Thisrollout will help us strengthen our competitiveness in Japan, so we will aim to use this as one of thekeystones for success. Second is the steady launch of the insulin patch pump MEDISAFE WITH. By
establishing a track record in Japan and Europe in the future and solidifying the business base, we aim
to enhance our products’ reliability and global market recognition. Finally, third is the results fromsolutions provided through collaboration with other companies as explained in the presentation. By
generating these results, we would like to prove the new business models and meet market
expectations.
As these results emerge, we believe that the roadmap to 2030 will become clearer.