Supplementary Materials
for Fiscal Year Ended
August 31, 2023

October 13, 2023

© 2023 WEST HOLDINGS Co.

Three-Year Business Plan(Million yen)

Plan
Aug. 2023
Total sales at West Group

Aug. 2024

Aug. 2025

Aug. 2026

43,73464,65578,921

88,93632,48753,142

67,04876,748■ Solar power contracts for industrial use (Self-consumption)

18,58821,50024,50027,000■ Development of non-FIT power plants (West FIT)

10,47031,642

42,54849,748■ Mega solar development

2,548---881---

4,730

5,500

5,500

5,500

■ Green electricity wholesaling

462

900

900900■ Electricity generation and sale

4,268

4,600

4,600

4,600

Energy Saving Business

2,133

2,100

2,100

2,100

Maintenance Business

1,860

1,830

1,880

1,950

West Thailand

1,660

1,983

2,293

2,538

Other864

100

100

100

Operating profit

8,499

11,683

14,772

17,70619.43%

18.07%

18.72%

19.91%

Ordinary profit

7,972

10,983

13,972

16,806

Profit attributable to owners of parent

6,016

7,438

9,471

11,398Renewable Energy Business■ Revitalization of mega solar facilities
Electricity Power Business(Operating profit margin)© 2023 WEST HOLDINGS Co.

The West Group’s Strategy (1)The position of solar power plants has changed.
Increasing demand

Investmenttype products

Facilities for contributing

to the environment andachieving decarbonization(1) Self-consumption(2) Green electricity(3) Ownership of powerplants

West responds to different types of demand.

(1) Self-consumption

Solar power contracts
for industrial use

Owning power plants and consuming electricity from them (large suppliers’ factories, large stores and logistical facilities)(2) Green electricity

Green electricity wholesaling

Merely using green electricity without owning power plants (Osaka Gas and MC Retail Energy)(3) Ownership of power plants

Development of
non-FIT power plants

Owning renewable energy power plants to contribute to the environment and comply with regulations without using
green electricity (JERA and SMFL MIRAI Partners)© 2023 WEST HOLDINGS Co.

The West Group’s Strategy (2)West’s construction structure based on
its experience and achievements

Enormous demandand orders

Social demand in terms of
the environment and safety

Expand steady and reliable construction capabilities
Development of
non-FIT power plants- Establish a management structure for smoothly implementing
numerous, broadly varied and complicated applications and proceduresfor permits and authorizations- Perform construction safely and efficiently in accordance with standards- Form a network of qualified personnel capable of fulfilling the newly
introduced pre-use self-inspection obligation

Solar power contracts
for industrial use(Self-consumption)- Implement difficult construction projects on the roofs of factories
and stores where the situation varies from site to site
- Secure and develop constructors with advanced building skills andincrease and train internal construction employees© 2023 WEST HOLDINGS Co.

NoteThis material is prepared for providing information primarily about the Group and is not intended to solicit
investment, in Japan or overseas, in shares or other securities issued by West Holdings Corporation.
The information included in this material about the industry, market trends, or economic conditions, etc. isprovided based on information available at the time of publication of this material. West Holdings
Corporation does not guarantee the veracity, accuracy, rationality, or completeness of the information. TheCompany does not assume any responsibility for updating the information.
The forward-looking statements included in this material, such as plans, projections, estimates, predictions,and forecasts, are nothing more than judgments or ideas of the Company at the time of publication. The
Group’s operating results, financial position and other results included in this material and theirimplications may be significantly different from actual results, depending on energy policies, laws andregulations, systems, market trends, the status of approvals and licenses needed for the Group’soperations, the success or failure of acquisition or development of land or power generation facilities, etc.,
and changes in weather, climate and the environment, etc., among other factors, in Japan and overseas.
In principle, the amounts included in this material are consolidated amounts and rounded down to thenearest million yen. As a result, the sum of amounts may be different from the “total” amount.

© 2023 WEST HOLDINGS Co.

Inquiries about this materialWest Holdings Corporation
Main phone number: +81-3-6812-2501© 2023 WEST HOLDINGS Co.