Ver.1.1

Earnings Results
for the Three-month Period
Ended June 30, 2024

Investor Briefing
August 7, 2024

SoftBank Group Corp.

Disclaimers
This presentation provides relevant information about SoftBank Group Corp. (“SBG”) and its subsidiaries (together with SBG, the “Company”) and its affiliates (together with the Company, the “Group”) and does not constitute or form any solicitation of investment
including any offer to buy or subscribe for any securities in any jurisdiction.
This presentation contains forward-looking statements, beliefs or opinions regarding the Group, such as statements about the Group’s future business, future position and results of operations, including estimates, forecasts, targets and plans for the Group.
Without limitation, forward-looking statements often include the words such as “targets”, “plans”, “believes”, “hopes”, “continues”, “expects”, “aims”, “intends”, “will”, “may”, “should”, “would”, “could”, “anticipates”, “estimates”, “projects” or words or terms of similar
substance or the negative thereof. Any forward-looking statements in this presentation are based on the current assumptions and beliefs of the Group in light of the information currently available to it as of the date hereof. Such forward-looking statements do not
represent any guarantee by any member of the Group or its management of future performance and involve known and unknown risks, uncertainties and other factors, including but not limited to: the success of the Group’s business model; the Group’s ability to
procure funding and the effect of its funding arrangements; key person risks relating to the management team of SBG; risks relating to and affecting the Group’s investment activities; risks relating to SB Fund (defined as below), its investments, investors andinvestees; risks relating to SoftBank Corp. and the success of its business; risks relating to law, regulation and regulatory regimes; risks relating to intellectual property; litigation; and other factors, any of which may cause the Group’s actual results, performance,
achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by such forward-looking statements. For more information on these and other factors which may affect theGroup’s results, performance, achievements, or financial position, see “Risk Factors” on SBG’s website at https://group.softbank/en/ir/investors/management_policy/risk_factor. None of the Group nor its management gives any assurances that the expectations
expressed in these forward-looking statements will turn out to be correct, and actual results, performance, achievements or financial position could materially differ from expectations. Persons viewing this presentation should not place undue reliance on forward
looking statements. The Company undertakes no obligation to update any of the forward-looking statements contained in this presentation or any other forward-looking statements the Company may make. Past performance is not an indicator of future results andthe results of the Group in this presentation may not be indicative of, and are not an estimate, forecast or projection of the Group’s future results.
The Company does not guarantee the accuracy or completeness of information in this presentation regarding companies (including, but not limited to, those in which SB Funds have invested) other than the Group which has been quoted from public and othersources.

Regarding Trademarks
Names of companies, products and services that appear in this presentation are trademarks or registered trademarks of their respective companies.

Important Notice – Trading of SBG Common Stock, Disclaimer Regarding Unsponsored American Depository Receipts
SBG encourages anyone interested in buying or selling its common stock to do so on the Tokyo Stock Exchange, which is where its common stock is listed and primarily trades. SBG’s disclosures are not intended to facilitate trades in, and should not be relied on
for decisions to trade, unsponsored American Depository Receipts (“ADRs”).
SBG has not and does not participate in, support, encourage, or otherwise consent to the creation of any unsponsored ADR programs or the issuance or trading of any ADRs issued thereunder in respect of its common stock. SBG does not represent to any ADR
holder, bank or depositary institution, nor should any such person or entity form the belief, that (i) SBG has any reporting obligations within the meaning of the U.S. Securities Exchange Act of 1934 (“Exchange Act”) or (ii) SBG’s website will contain on an ongoingbasis all information necessary for SBG to maintain an exemption from registering its common stock under the Exchange Act pursuant to Rule 12g3-2(b) thereunder.
To the maximum extent permitted by applicable law, SBG and the Group disclaim any responsibility or liability to ADR holders, banks, depositary institutions, or any other entities or individuals in connection with any unsponsored ADRs representing its common
stock.
The above disclaimers apply with equal force to the securities of any of the Group which are or may in the future be the subject of unsponsored ADR programs, such as SoftBank Corp. or LY Corporation.

Notice regarding Fund Information contained in this Presentation
This presentation is furnished to you for informational purposes and is not, and may not be relied on in any manner as, legal, tax, investment, accounting or other advice or as an offer to sell or a solicitation of an offer to buy limited partnership or comparable
limited liability equity interests in any fund managed by a subsidiary of SBG, including SB Global Advisers Limited (“SBGA”), SB Investment Advisers (UK) Limited (“SBIA”), and any of their respective affiliates thereof (collectively, the “SB Fund Managers” andeach an “SB Fund Manager”) (such funds together with, as the context may require, any parallel fund, feeder fund, co-investment vehicle or alternative investment vehicle collectively, the “SB Funds” and each an “SB Fund”). For the avoidance of doubt, the SB
Funds include, among other funds, SoftBank Vision Fund L.P. (together with, as the context may require, any parallel fund, feeder fund, co-investment vehicle or alternative investment vehicle, the “Vision Fund I”), which are managed by SBIA and its affiliates;
SoftBank Vision Fund II-2 L.P. (together with, as the context may require, any parallel fund, feeder fund, co-investment vehicle or alternative investment vehicle, the “Vision Fund II”), which are managed by SBGA and its affiliates; and SBLA Latin America Fund
LLC (together with, as the context may require, any parallel fund, feeder fund, co-investment vehicle or alternative investment vehicle, the “SoftBank Latin America Fund”), which are managed by SBGA and its affiliates.
None of the SB Funds (including the Vision Fund I, Vision Fund II and SoftBank Latin America Fund), the SB Fund Managers any successor or future fund managed by an SB Fund Manager, SBG or their respective affiliates makes any representation or
warranty, express or implied, as to the accuracy or completeness of the information contained herein and nothing contained herein should be relied upon as a promise or representation as to past or future performance of the SB Funds or any other entity
referenced in this presentation, or future performance of any successor or the future fund managed by an SB Fund Manager.
Information relating to the performance of the SB Funds or any other entity referenced in this presentation has been included for background purposes only and should not be considered an indication of the future performance of the relevant SB Fund, any otherentity referenced in this presentation or any future fund managed by an SB Fund Manager. References to any specific investments of an SB Fund, to the extent included therein, are presented to illustrate the relevant SB Fund Manager’s investment process andoperating philosophy only and should not be construed as a recommendation of any particular investment or security. The performance of individual investments of an SB Fund may vary and the performance of the selected transactions is not necessarily
indicative of the performance of all of the applicable prior investments. The specific investments identified and described in this presentation do not represent all of the investments made by the relevant SB Fund Manager, and no assumption should be made thatinvestments identified and discussed therein were or will be profitable.
The performance of an SB Fund in this presentation is based on unrealized valuations of portfolio investments. Valuations of unrealized investments are based on assumptions and factors (including, for example, as of the date of the valuation, average multiples
of comparable companies, and other considerations) that the relevant SB Fund Manager believes are reasonable under the circumstances relating to each particular investment. However, there can be no assurance that unrealized investments will be realized atthe valuations indicated in this presentation or used to calculate the returns contained therein, and transaction costs connected with such realizations remain unknown and, therefore, are not factored into such calculations. Estimates of unrealized value aresubject to numerous variables that change over time. The actual realized returns on the relevant SB Fund’s unrealized investments will depend on, among other factors, future operating results, the value of the assets and market conditions at the time ofdisposition, any related transaction costs and the timing and manner of sale, all of which may differ from the assumptions and circumstances on which the relevant SB Fund Manager’s valuations are based.
Past performance is not necessarily indicative of future results. The performance of an SB Fund or any future fund managed by an SB Fund Manager may be materially lower than the performance information presented in this presentation. There can be noassurance that each SB Fund or any future fund managed by the relevant SB Fund Manager will achieve comparable results as those presented therein.
Third-party logos and vendor information included in this presentation are provided for illustrative purposes only. Inclusion of such logos does not imply affiliation with or endorsement by such firms or businesses. There is no guarantee that an SB Fund Manager,an SB Fund’s portfolio companies, any future portfolio companies of a future fund managed by an SB Fund Manager or SBG will work with any of the firms or businesses whose logos are included in this presentation in the future.
SBGA and SBIA manage separate and independent operations and processes from each other and those of SBG in the management of Vision Fund I, Vision Fund II and SoftBank Latin America Fund, respectively. Any SB Funds managed by SBGA or SBIA are
solely managed by SBGA or SBIA respectively.

Exchange rates per JPY used for translation
Average during quarter
1 USD
EOQ

Q1
138.11
Jun 30

1 USD

FY2023Q2
145.44
Sep 30Q3
147.00Dec 31Q4
147.87
Mar 31Q1
156.53Jun 30151.41161.07Q2
Sep 30

FY2024Q3

Q4

Dec 31Mar 31Abbreviations
Abbreviations used in Accounting and Finance section of this presentation are as follows.
In some cases, "Ltd.“ and "Corporation" etc. are omitted from the company name.
Abbreviations

SBG
The Company
SBKK
SB Northstar
SVF1 or SoftBank Vision Fund 1
SVF2 or SoftBank Vision Fund 2
LatAm Funds or Latin America Funds
SVF
SBIA
SBGA
Arm
T-Mobile or TMo
Deutsche Telekom or DT
Alibaba

Definition (Each of the following abbreviations indicates the respective company and its subsidiaries, if any)
SoftBank Group Corp. (stand-alone basis)
SoftBank Group Corp. and its subsidiaries
SoftBank Corp.
SB Northstar LP
SoftBank Vision Fund L.P. and its alternative investment vehicles
SoftBank Vision Fund II-2 L.P.
SBLA Latin America Fund LLC
SVF1, SVF2 and LatAm Funds
SB Investment Advisers (UK) Limited
SB Global Advisers Limited
Arm Holdings plc
T-Mobile US, Inc. after merging with Sprint
Deutsche Telekom AG
Alibaba Group Holding Limited

Other
Some figures in the report are rounded and may not add up to the figures presented as the total.

Index• Accounting• Finance• SoftBank Vision & LatAm Funds• ArmAccountingConsolidated Results(¥ B)

FY23Q1FY24Q1

ChangeChange %Net sales

1,557.5

1,701.7+144.2+9.3%

Income before
income tax-176.2225.7+401.9ー-477.6-174.3+303.3ーGain/loss on
investments-699.0559.7+1,258.7ー

Investment Business of
Holding Companies-689.7567.9+1,257.6

ー

-13.0

32.4

+45.4

ー

3.8

-40.6

-44.4

ー

Net income(attributable to owners of theparent)(Reference)

SoftBank Vision Funds(Excludes investment gain/loss
in subsidiaries)

Other investments

As subsidiaries including Arm and SBKK are consolidated, their share price changes don't impact consolidated P/L.
Accounting 2

Net Income & SVF Segment Income

3,033.6
950.0
422.7
Net income-57.6

SVF segment income(income before income tax)

-660.1-1,019.9• Includes investment gain/loss in subsidiaries• After considering third-party interests-297.5-783.461.0-477.6-258.9

(¥ B)

231.1

-174.3-96.7-204.3

Q4

Q1
FY24

-931.1-2,330.8-3,162.7
Q1
FY22

Q2

Q3

Q4

Q1
FY23

Q2

Q3

As subsidiaries including Arm and SBKK are consolidated, their share price changes don't impact consolidated P/L.
Accounting 3

Investment Business of Holding Companies Segment(¥ B)

P/L item
Gain/loss on investments at Investment
Business of Holding Companies
Realized gain/loss at asset management subsidiaries
Unrealized gain/loss on valuation at asset
management subsidiaries
Realized gain/loss

Unrealized gain/loss on valuationFY23Q1 FY24Q1-689.7

567.9

-0.1

0.2

0.9

-1.0

17.7

32.7 ・¥45.0B realized loss due to the physical settlement of the prepaid forward-620.4

Change in valuation for the fiscal year
Reclassified to realized gain/loss recordedin the past fiscal years
Derivative gain/loss
Effect of foreign exchange translation
Other
Selling, general and administrative expenses-620.3Finance cost

-97.3

Foreign exchange gain/loss
Derivative gain/loss (excl. gain/loss on investments)
Other gain/loss
Segment income (income before income tax)

FY24Q1 main items

・¥78.3B realized gain due to the sale of 6.7M TMo shares (see p5-6)

contracts using Alibaba shares・¥205.7B gain on Alibaba shares that continued to be held at FY24Q1-end(due to the weaker yen)
531.1
・¥173.2B gain on TMo shares that continued to be held at FY24Q1-end(due to share price increase)

502.6

-0.0

28.5

-97.0
―
9.2
-19.6

-12.0 ¥17.8B derivative loss due to the sale of 6.7M TMo shares (see p5-6)
-11.1
28.0
-37.2

-466.1848.8
29.4-394.5

・¥106.8B interest expenses at SBG and 100% subs for fund procurement-136.1 ・¥28.6B amortized cost related to the consideration payable for the acquisitionof Arm shares from SVF1 in Aug 2023 (eliminated in consolidation)-442.6 Impact of the weaker yen (see p19-20)

58.8
27.1
38.0

Accounting 4

T-Mobile: Shareholding & Fair Values$160.33

Share price$138.90$163.22$176.18$140.05

Events in FY24Q1
Number of 43.3
shares held

43.3

92.1

92.1

+48.8

(M)

①

85.4

①

670

-6.7

Fair value

5,481

7,957

1,365

③Settled prepaid forward contracts
using 20.0M TMo shares by cash*1(Settled the remaining portion by cashon Jul 1)

1,162

5,666

1,171

15,039Fair value of the contingent consideration

4,499

4,541

-78

-54

Jun 30
2023

②
1,342

②DT’s call option for the remaining
28.2M TMo shares has expired
Recorded ¥173.2B valuation gain on
85.4M shares held as of Jun 30, 2024
due to a higher share price

($ M)

7,816

①Sold 6.7M TMo shares for $670M
following DT’s partial exercise of call
options

Sep 30

5,139

-249

Dec 31(i) TMo shares not subject to call options

5,241

-186

Mar 31
2024(ii) TMo shares subject to call options*2③ -99

Jun 30(iii) TMo shares received upon satisfaction of
the condition, not subject to call options(iv) Derivative financial liabilities related to prepaid
forward (collar) contracts using TMo shares*1 Unsettled prepaid forward contracts worth ¥87,010M ($540M) as of Jun 30, 2024 are recorded under “Current portion of financial liabilities relating to sale of shares by prepaid
forward contracts” in consolidated B/S for FY2024Q1. SBG settled all the unsettled portion by cash on Jul 1, 2024.
*2 After deducting the fair value of derivative financial liabilities on unexercised call options previously held by DT

Accounting 5

Transactions Related to T-Mobile Shares in FY24Q1
As of FY23Q4

Transactions in Q1

As of FY24Q1

Impact on Consolidated
Financial Statements ($ M)(1) Sold 6.7M TMo
85.4M TMo sharesshares following DT’s
heldpartial exercise ofcall options at$99.51 per share

 P/L• Realized gain: +500
• Valuation loss (Reclassified to realized gain recorded in thepast fiscal years): -390
• Derivative loss: -113
 B/S (Changes from FY23Q4)• Cash and cash equivalents: +670
• Investment securities: -1,098• Derivative financial liabilities: -425
 C/F
• Proceeds from sales of investments: +670

Including 35.0M
shares subject toDT’s call options(2) Call options forthe remaining 28.2M
shares expired

 P/L• Derivative gain: +42
 B/S (Changes from FY23Q4)• Derivative financial liabilities: -42

24.8M TMoshares used for
prepaid forward
contracts(3) Settled prepaid
forward contracts
using 20.0M TMoshares by cash

92.1M TMoshares held

DT’s call options all
expired(3) Deposit paid
for cashsettlement of
4.8M TMo sharesused for prepaid
forward contracts(settled on Jul 1)

 P/L• Derivative loss (excluding gain/loss on investments): -212
 B/S (Changes from FY23Q4)• Cash and cash equivalents: -3,503• Other current asset (deposit for Jul settlement): +883
• Financial liabilities relating to sale of shares by prepaid
forward contracts: -2,314• Derivative financial liabilities: -87
 C/F• Payments for settlement of financial liabilities relating to saleof shares by prepaid forward contracts: -2,321• Other financing cash flows (settlement of derivative financial
liabilities): -299
• Other financing cash flows (deposit for Jul settlement): -883
Accounting 6

Deutsche Telekom: Shareholding & Fair Values
Acquired 225M Deutsche
Telekom shares in Sep 2021
 in return for the sale of TMo shares€21.75

Share price
Number ofshares held

€19.98€19.87

225.0

225.0

€23.48€22.50

225.0

225.0

5,407

5,469

225.0

(M)

Fair value ($ M)

+184

5,653

4,904

4,732

-172

-149

-277

-310

-334

Jun 302023

Sep 30Dec 31Mar 31
2024

Jun 302024(i) DT shares(ii) Derivative financial liabilities
related to collar transactions using
DT shares** 225M shares

Accounting 7

Alibaba Shares & Derivative Financial Assets/Liabilities(Amount Recorded in B/S)
Value of Alibaba shares
recorded in B/S
considering prepaid
forward contracts:$28,463M ( A + B )Of valuation loss onshares ( C ), the loss
related to shares used for
prepaid forward contracts
was almost offset by
valuation gain onderivatives ( D ).

Investment securities (FVTPL)
Alibaba share price$72.36$72.00A$24,814M(¥3,757.1B)

Derivative financial
assets/liabilities (net)$72.36$72.00

Total$28,463M$23,106M*

C(¥3,721.7B)

Physical Valuation
settlement
loss

B

Alibaba shares(used for prepaid forward
contracts)
Alibaba shares$5,648M

PhysicalD$5,357M(¥855.1B) settlement Valuation (¥862.9B)
gain

Derivative financial
assets/liabilities (net)

FY23Q4FY24Q1FY23Q4FY24Q1* In July 2024, certain prepaid forward contracts using Alibaba shares matured and settled with the shares. The shares worth $1,152M (¥185.6B) used for the physical settlement werereclassified to “Assets classified as held for sale” as of Jun 30, 2024 and the amount reclassified is included and presented.

Accounting 8

SoftBank Vision Funds Segment
(¥ B)

P/L
Gain/loss on investments at SoftBank Vision Funds

FY23Q1 FY24Q1

FY24Q1 ｍain items
Includes gains and losses associated with investments in the
Company’s subsidiaries

159.8

1.9

134.7

15.9 ¥442.5B gain at SVF1, ¥413.6B loss at SVF2

Realized gain/loss on investments*-68.2-1,259.0 ¥691.7B loss at SVF1, ¥564.0B loss at SVF2

Unrealized gain/loss on valuation of investments*

212.2

1,025.8

Gain/loss on investments at SVF1, SVF2, and LatAm
Funds

Change in valuation for the fiscal year

120.9

Reclassified to realized gain/loss recordedin the past fiscal years

91.4

1,048.5

Interest and dividend income from investments

1.5

5.6

Derivative gain/loss on investments

2.5

1.8

Effect of foreign exchange translation

-13.3

241.8

25.1

-14.0

Selling, general and administrative expenses

-18.3

-19.2

Finance cost

-23.6

-10.5

-58.1

¥442.5B investment gain recorded at SVF1, where theproportion of third-party interests is significant, resulting in-205.3an increase in third-party interests of ¥175.6B (attributable
to investors entitled to performance-based distribution)

Gain/loss on other investments

Change in third-party interests in SVF
Other gain/loss
Segment income (income before income tax)
* Net amount-22.7 ¥402.2B gain at SVF1, ¥412.2B loss at SVF2

1.3

28.8

61.0

-204.3¥544.1B gain (reversal of unrealized loss) at SVF1,¥501.4B gain (reversal of unrealized loss) at SVF2

The amount arose from the FX differences used totranslate unrealized and realized gains and losses

Accounting 9

(Reference) Investment Performance of SVF1 and SVF2($ B)

FY24*1Since Inception
Returns*2

Gain/loss

Gain/loss
Q1

89.5

109.1

19.6

2.8

Exited investments

43.2

64.8

21.6

-4.4

Investments before exit

46.3

41.8

-4.5

2.6

Reversal of previously-recorded valuation gain/loss for exited investments in FY24

4.6

Derivatives/Interests/Dividends

Cost*2

SVF1

-0.0

2.5

2.5

0.0

53.0

31.1

-21.9

-2.6

Exited investments

6.7

3.4

-3.3

-3.6

Investments before exit

46.3

27.8

-18.5

-2.6

Reversal of previously-recorded valuation gain/loss for exited investments in FY24

3.6

Derivatives/Interests/Dividends

-0.0

SVF2

-0.0

-0.1

-0.1

*1 The amount of gains and losses for exited investments in FY24 represents the exit price, net of the investment cost of such investments. Unrealized valuation gains and losses ofsuch investments recorded in prior years are presented as a reversal of previously-recorded valuation gain/loss for exited investments in FY24.
*2 For derivatives, the investment cost represents the cost of the derivatives. Investment returns represent the exit price for exited investments, the fair value for investments before
exits, the settlement amount of settled contracts or the fair value of open contracts for derivatives, and the respective amounts received for interest or dividends.

Accounting 10

WeWork Emergence from Chapter 11 of the U.S. Bankruptcy Code
WeWork filed for protection under Chapter 11 of the U.S. Bankruptcy Code in Nov 2023
→ Emerged from Chapter 11 in Jun 2024
 Received 12.2% of new WeWork stocks; WeWork ceased to be an associate of the Company
 Recovered part of cash Reassessed the recoverability of loans to WeWork
Status of investment and financial support for WeWork (cumulative)
Cumulative loss
as of Mar 2024
(SBG consolidated
basis)

Carrying
amountas of Mar 2024

Stocks and warrants-12,364―

New WeWork
Stock

23

Notes

-1,531

―

Cash

40

-461

―

Loans

84

-14,356―

Credit support (fulfilledguarantee in FY23Q3)

Total

①

($ M)

Cumulative loss
Amountreceived upon as of Jun 2024
(SBG consolidated
emergencebasis)

147-14,209②①+②

Accounting 11

Arm Segment in SBG’s Consolidated Financial Report
Bridge to Arm’s disclosure (FY24Q1 P/L)
Adjustment (1)SBG Consolidated
Financial Report
Arm segment(IFRSs)Amortization expenses
related to intangible
assets recognized in thepurchase priceallocation at the timeof acquisition of Arm by
SBG

Adjustment (2)Difference inaccounting
standard

Arm
disclosure(IFRSs vs US GAAP)(US GAAP)

¥M

$M

$M

$M

$M

147,003

939

-

-

939

Total revenue

-33

-

0

-33

Cost of sales

Operating Expenses

-861

113

24 A

-724

Operating expenses

Other Income/loss

20

-

42 B

62

Other income/loss

65

113

Net sales
Cost of sales

Segment income(income before
income tax)

AB

10,16066

244

Income (loss) before
income taxes

Main variance factor: Difference in accounting treatment of share-based compensation
Main variance factor: Difference in accounting treatment of investment securities
Note:• The components of segment income, excluding net sales, in the above table are presented solely for the purpose of the reconciliation.

Accounting 12

Consolidated P/L Summary(¥ B)
P/L item
Net sales

FY23Q1FY24Q1

Change1,557.5

1,701.7+144.2

832.1

920.6

+88.5

Gross profit
Gain/loss on investments
Investment Business of Holding
Companies
SoftBank Vision Funds
Other investments
Total gain on investments
Selling, general and administrative
expensesFinance cost
Foreign exchange gain/loss-689.7 1567.9+1,257.6-13.0 23.8 3-699.0

32.4
-40.6
559.7

+45.4
-44.4
+1,258.7-648.1 4-719.7-71.6

Derivative gain/loss (excl. gain/loss on
investments)-139.6 ５ -137.6-464.6 ６ -443.9

+2.0
+20.7

849.6 ７60.5

-789.1-58.1-205.3151.5 ８ 191.3-176.2225.7-140.0 9 -215.2-316.2
10.5-147.2+39.8+401.9-75.2+326.7

Change in third-party interests in SVF
Other gain/loss
Income before income tax
Income taxes
Net income
Net income attributable to non-controllinginterests
Net income attributable to owners of
the parent

161.4

184.7

+23.3

-477.6-174.3+303.3

1 ・¥235.7B investment gain on Alibaba shares・¥179.1B investment gain on TMo shares (including derivative gains andlosses on investments and effects of foreign exchange translation)
2 SVF1: ¥417.1B gain, SVF2: ¥357.7B loss, LatAm: ¥13.0B loss, Other
investments: ¥14.0B loss
3 Includes valuation loss on Symbotic shares held by a wholly owned
subsidiary of SBG, primarily resulting from a decrease in the share price4 ・SBKK segment: ¥504.9B expenses
・Arm segment: ¥135.0B expenses
5 ¥106.8B interest expenses at SBG and wholly owned subsidiaries
conducting fund procurement
6 Impact of the weaker yen (see p19-20)
cf. increase in exchange differences from the translation in B/S: ¥1,119.7B
7 ¥40.4B gain on Alibaba prepaid forward contracts
８ ¥93.1B gain relating to loss of control over Fortress9 ・Income taxes recorded at SBKK, Arm, LY and other operating companies
・Deferred tax expenses recorded due to increased value of Alibaba sharesand other holding assets

As subsidiaries including Arm and SBKK are consolidated, their share price changes don't impact consolidated P/L.
Accounting 13

Consolidated B/S Summary – 1(¥ B)

Non-current assets

Current assets

B/S
item

Main items

Mar 2024 Jun 2024
11,441.4

Change11,359.0-82.4

5,498.9-687.9Cash and cash equivalents

6,186.9 1

Derivative financial assets

852.4

1,031.1 2+178.8Other financial assets

778.0

1,011.6 3+233.6

Other current assets

551.0

712.8

+161.8Assets classified as held for sale

42.6

188.2

+145.735,282.9

36,475.2+1,192.4

Property, plant and equipment

1,895.3

1,964.0+68.7

Goodwill

5,709.9

5,940.6 4+230.7

Intangible assets

2,448.8

2,427.1

-21.7

839.2

700.8

-138.4

11,014.5

11,747.9 5+733.4

SVF1

6,042.0

6,742.9+700.8SVF2

4,096.9

4,084.9-12.0

LatAm Funds

875.6

920.2

+44.6

Investment securities

9,062.0

9,378.7 6+316.7

385.5

268.5

-117.02,424.3

2,483.3+59.0

46,724.2

47,834.2+1,109.9

Investments accounted forusing the equity method
Investments from SVF (FVTPL)

Derivative financial assets
Other financial assets

Total assets

1 Investment Business of Holding Companies segment (including SBG andwholly owned subsidiaries conducting fund procurement, etc.): ¥3,088.6B(¥270.9B decrease)2 ¥100.7B increase for Alibaba prepaid forward contracts, due to theweaker yen and the reclassification of those contracts due for settlement
within one year as current assets, despite the physical settlement of a portionof the contracts
3 ¥141.6B increase in investments from asset management subsidiary(mainly due to acquisitions of corporate bonds)
4 ¥228.7B increase at Arm due to the weaker yen
5 Increased mainly due to a 6.4% yen depreciation in FX rate used fortranslations in FY24Q1
・SVF1 $0.61B sold, $2.57B fair value increase
・SVF2 $0.61B acquired, $0.03B sold, $2.28B fair value decrease
・LatAm Funds $0.02B acquired, $3M sold, $0.08B fair value decrease
6 See p15

Accounting 14

Investment Securities in Consolidated B/S (Main Investments)(¥ B)

Mar 2024

Jun 2024

9,062.0

9,378.7+316.78,321.5

8,495.0+173.5

Alibaba

3,757.1$24,814M

3,536.2$21,954M

T-Mobile

2,275.8$15,031M

2,422.3$15,039M+146.5 selling 6.7M TMo shares following DT's partial exercise of+$8M call options

828.0$5,469M
183.4

910.5
$5,653M
152.4+82.4 Increased due to the weaker yen against USD and higher+$184M share price-31.0 Decreased due to lower share price

143.8

209.2

197.7

191.3

-6.3

935.7

1,073.1+137.4

202.8

203.2

732.8

869.9

+137.1 Wayve, MapBox, Boston Dynamics, Telexistence, etc.

740.5

883.7

+143.2 PayPay Bank increased due to additional investments madeInvestment securities
FVTPL

Deutsche Telekom
Symbotic*
NVIDIA
Holdings by SBKK group
OthersPublic (12 investments)
Private (~240 investments)
FVTOCI and others

ChangeOutline-220.9 Decreased mainly due to the physical settlement of a-$2,860M portion of Alibaba prepaid forward contracts
Increased mainly due to higher share price, despite SBG+65.4 Increased due to higher share price+0.3 Eutelsat, Lemonade, Tempus AI, etc.
Carrying amount of asset management products held byduring FY24Q1

Note: Includes the increase in carrying amount of investments due to a 6.4% depreciation of the yen against USD in the foreign currency exchange rate used for translations in FY24Q1* Excludes Symbotic shares held by SVF2 and SB Northstar

Accounting 15

Breakdown of Goodwill/Intangible Assets
(¥ B)
B/S
Item

Main intangible assets

Goodwill*

Main items

Mar 2024

Jun 2024

ChangeAmortization

Changes in
FX rateOthersOutline5,709.9

5,940.6

Arm3,585.0

3,813.8―+228.7

―

SBKK

913.9

913.9

―

―

―

LY

478.3

478.3

―

―

―

ZOZO

214.0

214.0

―

―

―

Technologies

359.0

364.2

Main
b/d

338.3

346.1

-13.5

+21.2

―

Amortized at straight-line method for 8-20 years

592.3

586.0

ZOZO

264.6

261.4

-3.3

―

―

Amortized at straight-line method for 18-25 years

LY

190.8

187.4

-3.3

―

―

Amortized at straight-line method for 12-18 years

Arm

84.3

85.5

-4.0

+5.3

―

Amortized at straight-line method for 13 years

553.0

550.9

Arm

Customer
relationships

Main
b/d

Trademarks

Mainly ZOZOTOWN, Yahoo! (trademark in Japan),and LINE* Other than Arm, these are the amounts of goodwill recognized at the date of acquisition by SBG. They do not include goodwill recognized as a result of M&A executed by the relevant subsidiaries
after their acquisition dates. The goodwill of Arm represents the amount reallocated to the Arm segment, as a result of the organizational change in FY20.

Accounting 16

Consolidated B/S Summary – 2
(¥ B)
B/S
item

Main items

Mar 2024

Jun 2024

14,020.3

14,409.8+389.59,141.3+870.2

149.8

161.3

+11.5

Deposits for banking business

1,643.2

1,690.3+47.2

Trade and other payables

2,710.5

2,575.3-135.2Derivative financial liabilities

195.1

98.1

Other financial liabilities

31.8

2.8

-29.0

Income taxes payable

163.2

111.5

-51.7

Other current liabilities

801.3

590.8

-210.5

19,466.8

19,221.4-245.4

12,296.4

1 11,579.9-716.5

644.7

717.4

+72.7

Third-party interests in SVF

4,694.5

5,049.0

Derivative financial liabilities

41.2

51.1

+9.9

Other financial liabilities

57.0

40.6

-16.4

1,253.0

1,387.8+134.7

312.0

269.8

-42.2

33,487.1

33,631.1+144.1

Current liabilities

Interest-bearing debt

Non-current liabilities

ChangeLease liabilities

Interest-bearing debt
Lease liabilities

Deferred tax liabilities
Other non-current liabilities
Total liabilities

8,271.1

1

2

3

-96.9

+354.5

1 SBG
Borrowings*: ¥465.6B (¥2.7B increase)
Corporate bonds*: ¥6,457.9B (¥310.3B increase)
Wholly owned subsidiaries conducting fund procurement
Borrowings*: ¥2,381.1B (¥110.5B increase)
Financial liabilities relating to sale of shares by prepaid forward contracts*:¥4,785.9B (¥386.6B decrease)
SVF
Borrowings*: ¥582.9B (¥35.0B increase)*Total of current and non-current. See p31-32 of FY24Q1 SBG Consolidated Financial Reportfor details.

2 ・¥70.7B decrease due to the sale of 6.7M TMo shares following DT's partial
exercise of call options and the expiration of the remaining call options
・¥20.8B decrease due to prepaid-forward contracts using TMo shares(see p5-6)
3 Increase in book value due to impact of the weaker yen

Accounting 17

Consolidated B/S Summary – 3
(¥ B)
B/S
Item

Mar
2024

Jun
2024

13,237.2

14,203.0+965.9Common stock

238.8

238.8

―

Capital surplus

3,326.1

3,362.7

+36.6

193.2

193.2

―

1,633.0

1,425.2 1-207.8

-22.7

-22.5

+0.3

Main items

EquityOther equity instruments
Retained earnings
Treasury stock

ChangeAccumulated othercomprehensive income

5,793.8

6,919.8 2 +1,126.0

Total equity attributable toowners of the parent

11,162.1

12,117.2+955.1

Non-controlling interests

2,075.0

2,085.8+10.8

Ratio of equity attributable toowners of the parent (equity
ratio)

23.9%

25.3%

+1.4%

1 ¥174.3B net loss attributable to owners of the parent
2 ¥1,119.7B increase in exchange differences from the translationof foreign operations due to the weaker yen(increase in exchange differences arising from translating
foreign subsidiaries and associates into yen mainly due to theweaker yen against USD. See also p19-20)
Cf. ¥443.9B foreign exchange loss was recorded inconsolidated P/L for FY24Q1 (see p13)

Accounting 18

Impact of the Weaker Yen on P/L & B/S (Illustration)
Entities

SBG stand-alone +Subsidiaries conducting
fund procurementin JapanComponents
Foreign currencydenominatedcash and cash
equivalents/
Loans receivable(excl. investments)

P/L
Foreign exchange
gain (loss)

B/S
Exchange differencesfrom translation

Foreign exchange gain
(See page 20)

Foreign currencydenominated liabilities(borrowings/bonds)

Foreign exchange loss
(See page 20)

Foreign subsidiaries andassociates whosefunctional currency
is not yen(e.g., SVF1/2, LatAm Funds, Arm)Net assets(positive)
Change in fair values

Exchange differences fromtranslation (See page 18)
Accounting 19

Impact of the Weaker Yen in FY24Q1 (from ¥151.41/$ to ¥161.07/$)
Foreign exchange loss in consolidated P/L for FY24Q1: ¥443.9B

At SBG stand-alone: Foreign exchange losses of ¥471.6B related to foreign currency-denominated borrowings from Group
companies and ¥30.1 related to foreign currency-denominated bonds excl. USD-denominated perpetual hybrid bonds

SBG stand-alone balance

Mar 31, 2024

Jun 30, 2024

$51.2Ｂ$52.1Ｂ$13.8Ｂ$10.7Ｂ$37.4B$41.4B$=¥151.41

Foreign currency-denominated debts(borrowings/bonds)
incl. intra-Group borrowings

Foreign currency-denominatedcash and cash equivalents/
loans receivable, etc. excl. investments$=¥161.07

Incl. $9.9B cash and cash equivalents, Incl. $6.3B cash and cash equivalents,$3.9B loans receivable$3.9B loans receivable

Net (liabilities)

Exchange differences from translation in consolidated B/S on Jun 30, 2024: ¥6,914.2B
up ¥1,119.7B from Mar 31, 2024 mainly related to investments in subsidiaries’ shares and associates

Exchange differences fromtranslation in consolidated B/S

Mar 31, 2024

Jun 30, 2024$=¥161.07

ChangeSVF1/2 and LatAm Funds$58.6B¥8,872.3B$57.7B¥9,291.0B-$0.9B(A)+¥418.7B(B)+¥561.9B

SBGC*2$18.3B¥2,763.5B$24.4B
¥3,937.4B+$6.1B(A)+¥1,173.9B(B)+¥204.4B

Arm$29.5B¥4,460.4B$29.8B
¥4,792.7B+$0.3B(A)+¥332.4B(B)+¥285.9B

Net assets of subsidiaries
net of third-party interests & carrying
amount of Arm sharesnet of carrying amount of Arm shares$=¥151.41*1 Considering intercompany transactions on consolidation*2 SoftBank Group Capital Limited((B) - (A) x
average rate for FY24Q1 ¥156.53/$ )*1

Accounting 20

Consolidated C/F Summary
(¥ B)
C/F
item
C/F from
operatingactivities

C/F from
investingactivities

FY23Q1FY24Q1Primary details for FY24Q1+109.2 Subtotal of cash flows from operating activities-172.6 1-43.0-149.8 Income taxes paid
+43.4 Income taxes refunded-307.8-330.32-358.3 Payments for acquisition of investments

3+179.9 Proceeds from sales/redemption of investments-93.4 Payments for acquisition of investments by SVF+112.2 Proceeds from sales of investments by SVF-199.7 Purchase of PP&E and intangible assets

４ +1,252.9 Proceeds from interest-bearing debt
C/F from
financing
activities

５ -1,211.4 Repayment of interest-bearing debt
+529.6-543.8Distribution/repayment from SVF to third-party-151.8 investors-31.6 Cash dividends paid
-143.7 Cash dividends paid to non-controlling interests

FY23Q1 FY24Q1
Effect of FX rate changes on+341.8+229.2
cash and cash equivalents, etc.
Increase/decrease in cash and+391.0-687.9cash equivalents
Opening balance+6,925.2 +6,186.9
Closing balance+7,316.1 +5,498.9

1 ¥43.0B net outflow, due to outlays for ¥149.8B income taxes and theacquisition of corporate bonds by SB Northstar

2 ・Outlays of ¥193.2B at SBG and wholly owned subsidiaries (mainly strategic
investments)
・PayPay Bank acquired ¥101.2B bonds and other asset management
Products

3 Sold 6.7M TMo shares following DT’s partial exercise of call options
4 SBG

・Made ¥121.7B short-term borrowings
・Issued domestic straight bonds totaling ¥650.0B
SBKK
・Procured ¥289.0B mainly through the securitization of installment salesreceivable and sale-and-leaseback transactions
・Issued domestic straight bonds totaling ¥80.0B

５ SBG

・Repaid ¥119.2B short-term borrowings
・Redemption of bonds, etc. totaling ¥452.2B
Wholly owned subsidiaries conducting fund procurement
・Paid ¥363.3B to settle the financial liabilities relating to sale of shares by
prepaid forward contracts for cash settlement of a portion of the prepaidforward contracts using TMo shares (¥46.8B paid to settle the derivative
financial liabilities related to those contracts are included in Other financing
cash flows)
SBKK
・Repaid ¥183.5B borrowings made mainly through the securitization of
installment sales receivable and sale-and-leaseback transactions

Accounting 21

Income Taxes Paid on a Consolidated Basis (Net)
(¥ B)

FY19

FY20

FY21

FY22

FY23

757.4

324.5

589.3

525.9

816.8 3,013.9

696.3

189.5

551.2

469.7

717.0

2,623.7

92.7

SBG andintermediateholding companies(wholly owned
subsidiaries)

445.8

-85.3

200.0

214.2

443.3

1,218.0

13.8

Operatingcompanies (mainly
SBKK and LY)

250.5

274.8

351.2

255.5

273.7

1,405.7

78.9

61.1

135.0

38.1

56.2

99.8

390.2

13.7

ConsolidatedJapan

Overseas

Total

FY24
Q1

106.4

Notes:
・The amounts represent the net total of tax payments and tax refunds.
・Income taxes paid on a consolidated basis matches the net amount of “income taxes paid” and “income taxes refunded” in the consolidated statement of cash flows.
・Income taxes paid by SBG and intermediate holding companies in Japan for FY20 was negative due to the refund of ¥143.0 billion in withholding income tax paid in FY19.
・SBG and intermediate holding companies in Japan have paid JPY 443.3 billion in income taxes for FY23, including an interim payment of JPY 118 billion, of which ¥76.3B
has been refunded by Jul 31, 2024.

Accounting 22

Co-investment Program to SVF2: Related Party Transactions
Masayoshi
Son*

SBG

1

Equity interests of third-party interests
FY24Q1: $―FY23: $―

(¥―)
(¥―)

Equity interests: 17.25%

100%

(B)
Distribution: $173M(Return of capital)

Equity interests: 82.75%
Preferred Equity

SVF2

Listedinvestments
as of
Jun 23, 2021*2(A)
Equity acquisition amount: $2,923M(i) Acquisition costs: $2,594M (committed capital: $2.6B)(ii) Adjustments etc.: $329M+
Premium receivable: $236M (FY23-end: $215M)

SVF2 LLC

Private investments*3
as of Jun 23, 2021*2+
New investmentson or after Jun 24, 2021

Balance of the receivables ((A) – (B))
FY24Q1: $2,986M (¥480.9B)
FY23: $2,965M (¥448.9B)

Notes:For details of the related party transaction, see p73-74 of FY24Q1 SBG Consolidated Financial Report.
*1 Participation by management other than Masayoshi Son has not been determined as of the date of this presentation, but is expected in the future.
*2 Jun 23, 2021 is the date on which the Co-investment Program was conditionally approved by the Board of Directors of SBG.
*3 Excludes portfolios that were listed or announced to be listed as of Jun 23, 2021, and portfolios that were approved by the Board of Directors of SBG to be excluded from the Co-investment Program.

Accounting 23

Co-investment Program to LatAm Funds &Management’s Investment in Asset Management Subsidiary
Equity interests of third-party investorsFY24Q1: $59M ( ¥9.5B)
FY23: $93M (¥14.1B)

Masayoshi
Son

SBG

(B)
Distribution: $2M

Equity interests: 17.25%(Return of capital)

Equity interests: 82.75%
Preferred Equity(A)
Equity acquisition amount:
$649M

+

Management’s investment inasset management subsidiary

Loans entrusted

Co-investment program to LatAm Funds

Masayoshi
Son

SBG
66.7%

33.3%

Delawaresubsidiaries

Premium receivable: $53M
100%

LatAm

SLA LLC
Balance of the receivables ((A) – (B))
FY24Q1: $700M (¥112.8B)
FY23: $696M (¥105.3B)*For details, see p75-76 of FY24Q1 SBG Consolidated Financial Report.

SB Northstar

Non-controlling interests inequity (Son’s interests）
FY24Q1: -¥226.9B
FY23: -¥247.0B*For details, see p13 of FY24Q1 SBG Consolidated Financial Report.
Non-controlling interests (Son’s interests), including interest and others on loans,amounted to -¥393.1B as of Jun 30, 2024.

Accounting 24

Finance
SBG stand-alone financial figures are calculated by excluding those of selffinancing entities from the consolidated figures, unless otherwise stated.
Major self financing entities include SBKK (including its subsidiaries such as
LY Corporation and PayPay), Arm, SVF1, SVF2, LatAm Funds, etc.

Impact of Recent Market Environments

Financial soundness stays intact evenduring market fluctuations

NAV

 LTV level with a sufficient buffer Completed bond refinancing for FY2024
 Maintain ample cash position

(¥ T)

LTV

15.5

16.4

Cash position*1

25%

5.8

24.9

19.2

8.0%

Sep

Dec

Mar

Jun

2023

2023

2023

2024

2024

Pro- ※
試算値
forma

0%

(as of Jun 30, 2024)

10.6%

5.1

4.4

4.7

4.6

4.3

10.9%

11.5%

Jun

Pro forma(as of Jun 30, 2024)
Applying share prices and
FX rate as of Aug 6, 2024

(¥ T)

35.3
27.8

※

8.4%

7.8%

Jun

Sep

Dec

Mar

2023

2023

2023

2024

Pro- ※
試算値
2024 forma
Jun

Jun

Sep

Dec

Mar

Jun

2023

2023

2023

2024

2024

(as of Jun 30, 2024)(Note) Pro forma (as of Jun 30, 2024): Based on the assumption that the compositions of asset and liability as of Jun 30, 2024 remain unchanged, and is calculated using share prices and the FX rate as of
Aug 6, 2024. These figures are provided as reference values and do not guarantee or imply future values.
Cash position as of Jun 30, 2024 (pro forma): Calculated based on the foreign currency balance as of Jun 30, 2024 and the FX rate as of Aug 6, 2024.
*1 Cash and cash equivalents + short term investments recorded as current assets (such as investments from asset management subsidiaries) + bond investments + undrawn commitment line. SBG standalone basis. From Sep 2023, SBG stand-alone cash position includes bond investments of SB Northstar.

Pro- ※
試算値
forma(as of Jun 30, 2024)

Finance 2

End of June – Our Perspective on Market Fluctuations
Low LTV and ample cash position allows us to effectively absorb sudden
market fluctuations
Equity value ofholdings

Net interest-bearing debt
(SBG stand-alone)¥38.3T

Listed shares*2

Arm, etc.

Telecomstocks(defensive)

Cash position(SBG stand-alone)

Net of asset backed
finance

LTV 7.8%

Sufficient buffer¥6.0T
2x cover¥3.0T

Maintain 5-year worth ofbond redemptions in cash

¥4.6T*1*1 Cash and cash equivalents + short term investments recorded as current assets + bond investments + undrawn commitment line (light color). SBG stand-alone basis (excl. SB
Northstar; however, incl. its cash and cash equivalents and bond investments).
*2 Shares of Arm, SoftBank Corp., T-Mobile, Deutsche Telekom, listed shares held by SVF1, SVF2 and LatAm Funds and public companies included in Others as of Jun 30, 2024. (SVF1,
SVF2, and LatAm Funds figures are for SBG’s interest only.)

Finance 3

Pro forma (Jun end)- Our Perspective on Market Fluctuations:Short-term Share Price/ Foreign Exchange Fluctuations
Managing LTV level with a sufficient buffer despite sudden market shifts
Pro forma(as of Jun 30, 2024)
Applying share prices and
FX rate as of Aug 6, 2024

(Jun 30: ¥38.3T)

Listed shares*2

Net interest-bearing debt
(SBG stand-alone)

Equity value ofholdings

Cash position(SBG stand-alone)¥27.9T

Arm, etc.

Telecomstocks(defensive)

Net of asset backed
finance

LTV 10.9%

Sufficient buffer¥5.6T
1.8x cover

Maintain 4-year worth ofbond redemptions in cash

¥3.0T (Jun 30: ¥3.0T)

Foreign exchange
impact¥4.3T*1 (Jun 30: ¥4.6T)(Note) Pro forma (as of Jun 30, 2024): Based on the assumption that the compositions of asset and liability as of Jun 30, 2024 remain unchanged, and is calculated using share prices and the FX rate as of Aug 6, 2024.
These figures are provided as reference values and do not guarantee or imply future values.
Cash position as of Jun 30, 2024 (pro forma): Calculated based on the foreign currency balance as of Jun 30, 2024 and the FX rate as of Aug 6, 2024.
*1 Cash and cash equivalents + short term investments recorded as current assets + bond investments + undrawn commitment line (light color). SBG stand-alone basis (excl. SB Northstar; however, incl. its cash andcash equivalents and bond investments).
*2 Shares of Arm, SoftBank Corp., T-Mobile, Deutsche Telekom, listed shares held by SVF1, SVF2 and LatAm Funds and public companies included in Others as of Jun 30, 2024. (SVF1, SVF2, and LatAm Funds figures Finance 4
are for SBG’s interest only.)Our Perspective on Market Fluctuations
Solid financial position unaffected by short-term market fluctuations
Share price / Foreign exchange

Short-term
fluctuation
Key themes of FY24
• Economic trends of each country• Revising valuations• Fed rate cuts/BoJ rate hikes• Sudden yen appreciation



LTV ratio with sufficient buffer:•Significant buffer in LTV even during market turbulence•¥6T of the listed shares* held is in telecommunication
stocks (defensive)

Ample cash position:•

Maintain at least 2-year worth of bond redemptions incash at all times•

Pace of monetization and investment is controllable

Interest rateImpact of interest payment on NAV fluctuation is limited

High level of fixed-rate financing and maturity diversification
eliminate the risk of a sudden surge in interest payments* Listed shares : Shares of Alibaba, Arm, SoftBank Corp., T-Mobile, Deutsche Telekom, listed shares held by SVF1, SVF2 and LatAm Funds and public companies included in
Others as of Jun 30, 2024. SVF1, SVF2, and LatAm Funds figures are for SBG’s interest only.

Finance 5

Difference from the 2020 COVID-19 ShockCDS fluctuation is limited compared to COVID-19 shock.
We now possess a solid financial foundation
Historical SBG share price/CDS*1
5-year CDS
12,000527(¥)

Jun 2024• LTV 7.8%
• Cash position ¥4.6T*3

Concerns in 2020

Now

(bps)

× NAV decrease

600

10,000

500

Aug 6

8,000

400 Share price

6,000

300

¥7,172(left hand axis)

× Worsening in

100

COVID-19
crisis

0
2020

2021

2022

2023

2024

NAV expansion

credibility

Low and stable LTV
Cash position over ¥4T

Expandinginvestment amounts

Controllinginvestments

×

5-year CDS
227
200 (right hand axis)

4,000
2,000

Mar 2020• LTV 14.2%• Cash position ¥1.8T*2

× Concerns overliquidity

Large scalemonetization trackrecord0*1 As of Aug 6, 2024. Created by SBG based on Bloomberg and Capital IQ.
*2 Cash position = cash and cash equivalents + short term investments recorded as current assets. SBG stand-alone basis. The amount of the undrawn commitment line as of Mar 31, 2020 is zero.
*3 Cash position = cash and cash equivalents + short term investments recorded as current assets + bond investments + undrawn commitment line. SBG stand-alone basis (excl. SB Northstar; however,Finance 6
incl. its cash and cash equivalents and bond investments)

Financials as an Investment Company

Adapt to all market changes(We have full control over the pace and scale of investments)
Cash position ¥4.6T + monetization
Normal times

Times of emergency
Control

Monetize
Growthinvestment

SourceShareholders
returnFinancial
improvement

Strategy focused control
Balanced capital allocation centeredon investments and return

Growth investment
Shareholders return
Financial improvement

Capitalallocation

Bondredemption

Market focused control
Flexibly select investment
amount/pace, etc.

(Note) Cash position = cash and cash equivalents + short term investments recorded as current assets + bond investments + undrawn commitment line. SBG stand-alone basis (excl. SB
Northstar; however, incl. its cash and cash equivalents and bond investments)

Finance 7

FY2024Q1 Financial Summary

Achieved highest NAV and lowest LTV ever. Completed bond refinancing
Continued strategic investments in AI

NAV・LTV

NAV ¥35.3T (+¥7.5T QoQ)
LTV 7.8％ (-0.6pt QoQ)
Net debt ¥3.0T (+¥0.4T QoQ)
*1
Cash position ¥4.6T (-¥0.1T QoQ)
Executed bond refinancing-

Financials-

Domestic bonds: redemption ¥450.0B, issuance ¥650.0B (¥100.0B of whole-sale bonds +¥500.0B of retail bonds)(July) Foreign bonds (USD・EUR) *2: redemption total ¥185.3B equiv., issuance total ¥301.9B equiv.

-(April) JCR: A- (Stable) → A (Stable)(May) S&P: BB (Positive) → BB+ (Stable)

One-notch upgrade by JCR and S&P

Growth investment executed sequentially. Investment gains have turned positive

Investments-

Invested $1.9B in FY24 Q1 (Investment in Wayve, etc)
Investment gain ¥559.7B: both Investment Business of Holding Companies and SoftBank Vision
Funds recorded profits*1 Cash and cash equivalents + short term investments recorded as current assets + bond investments + undrawn commitment line. The entire amount of ¥795.0B equiv. remains undrawn as of Jun
30, 2024. The figure is on SBG stand-alone basis (excl. SB Northstar; however, incl. its cash and cash equivalents and bond investments)
Finance 8*2 For foreign-currency notes, the contracted swap foreign exchange rate is applied where applicable. Converted at $1=¥161.07 and €1=¥172.33 elsewhere.

Historical NAV
Surge in Arm’s share price has been themain driver of NAV growth

NAV ¥35.3T(as of Jun 30, 2024)

NAV Pro forma(as of Jun 30, 2024)
Applying share prices and
FX rate as of Aug 6, 2024

¥24.9T

1998

2000

2002

2004

2006

2008

2010

2012

2014

2016

2018

2020

2022

2024 (FY)（Note）As of each quarter-end• NAV (Net Asset Value) = Adj. SBG stand-alone equity value of holdings – adj. SBG stand-alone net interest-bearing debt
• Information on NAV is provided for reference purposes only to illustrate its historical trend and is not intended to guarantee or imply future NAV.
• Pro forma (as of Jun 30, 2024): Based on the assumption that the compositions of asset and liability as of Jun 30, 2024 remain unchanged, and is calculated using
share prices and the FX rate as of Aug 6, 2024.

Finance 9Historical NAV and Market Cap
NAV growth drives market cap expansion

NAV ¥35.3T(as of June 30, 2024)

Arm

NAV pro forma(as of Jun 30, 2024)

SVF1/SVF2/
LatAm

Applying share prices and
FX rate as of Aug 6, 2024

¥24.9T

AlibabaMarket Cap

SBKK

15T

T-Mobile/
Deutsche Telekom¥

Yahoo Japan(as of Jun 30, 2024)

Others

1998

2000

2002

2004

2006

2008

2010

2012

2014

2016

2018

2020

2022

2024

（Note）As of each quarter-end. Market cap is calculated by SBG based on Bloomberg. As of Jun 30, 2024.
• NAV (Net Asset Value) = Adj. SBG stand-alone equity value of holdings – adj. SBG stand-alone net interest-bearing debt
• Information on NAV is provided for reference purposes only to illustrate its historical trend and is not intended to guarantee or imply future NAV.
• Pro forma (as of Jun 30, 2024): Based on the assumption that the compositions of asset and liability as of Jun 30, 2024 remain unchanged, and is calculated using
share prices and the FX rate as of Aug 6, 2024.

(FY)

Finance 10

2000 vs 2024
The evaluation of new technology undergoes cycles of hype and correction,
ultimately being assessed based on its actual performance.

Nasdaq-100 Index

Dot-com“bubble”?
4,705

1998

2000

#

Name

1
2
3
4
5
6
7
8
9
10

Cisco Systems
MicrosoftIntel
OracleDell
WorldComYahoo!
QUALCOMM
Applied Materials
Veritas Software

32
36

Amazon.com
Apple

2002

2004

2006

AI drivenmarketMarket Cap.
($ B)
552
522
476
250
148
122
106
105
84
65

17,895

#
1
2
3
4
5
6
7
8
9
10

Market Cap.
($ B)
Apple
3,182
Microsoft
2,937
NVIDIA
2,471
Amazon.com
1,690
Meta Platforms
1,204
Alphabet
1,969
Broadcom
661
Tesla
635
Costco Wholesale
355
Netflix
257
Name

25
23

2008

2010

2012

2014

2016

2018

2020

* Created by SBG based on Bloomberg and Factset data. Market capitalization as of Mar 27, 2000, and Aug 5, 2024.

2022

2024
Finance 11

Major Listed Stocks: Price Trends (Since Sep 30, 2023)

Although Arm and SBKK share prices have recently declined, major stocks
reached new record highs since their listings

($)
200

All-time HighJul 10 $186.46

2,000¥1,786$113.39($)

All-time HighAug 6 $189.86

200

2,500

150

100

(¥)

All-time HighJul 10 ¥2,088.5

150

1,500
100
1,000

50

0

Sep 30, 2023

$53.5250500

Jun 30, 2024

$163.620

Sep 30, 2023

¥1,690.5

Jun 30, 2024

¥1,964.5(Note) Created by SBG based on Bloomberg. As of Aug 6, 2024. The prices of All-time High are based on the closing prices.

0

Sep 30, 2023

$140.05

Jun 30, 2024

$176.18

Finance 12

Historical Equity Value of Holdings

Significant growth in Arm’s value boosted
the equity value of holdings by over ¥20T(~2.3x) in a year
Net of asset-backed
finace

30.3

(¥ T)

0.0

16.9
3.7

8.0
2.4
1.4
1.4
Jun 2023

18.4
4.3

21.7

14.4

38.3
21.0
$163.62
Share priceas of Jun 30

27.9 0.01 Alibaba
12.2

6.9

8.1

8.3

8.8

2.7
1.5
1.7
Sep 2023

2.8
1.9
1.8
Dec 2023

3.2
2.1
1.9
Mar 2024

9.2
3.2
2.8
2.0
Jun 2024

8.3

SVF1+2, LatAm

SBKK
2.9
T-Mobile/
2.7
Deutsche Telekom
Others1.8
Pro forma

Proportion of listed(as of Jun 30, 2024)*
Applying share prices andshares 82%• For details of equity value of holdings, see Appendix of the Earnings Results Investor Briefing Presentation materials of each quarter.
FX rate as of Aug 6, 2024
• Pro forma (as of Jun 30, 2024): Based on the assumption that the compositions of asset and liability as of Jun 30, 2024 remain unchanged, and is calculated using share prices and the FX rate as of Aug 6,2024. These figures are provided as reference values and do not guarantee or imply future values.
* Proportion of listed shares: Shares of Alibaba, Arm, SoftBank Corp., T-Mobile, Deutsche Telekom, listed shares held by SVF1, SVF2 and LatAm Funds and public companies included in Others as of June 2024.
SVF1, SVF2, and LatAm Funds figures are for SBG’s interest only.

Finance 13

Historical LTV*1
Managed with a significant buffer

25%
18.2%
14.5%

14.0％

15.0%

Average LTV over the
past three years

11.0%

Jun 2022

Mar 2023

Sep 2022

Dec 2022

8.0%
Jun 2023

10.6%

11.5%

Sep 2023

Dec 2023

8.4%

7.8%

Mar 2024

Jun 2024*2

Pro forma (as of Jun 2024): Based on the assumption that the compositions of asset and liability as of Jun 30, 2024 remain unchanged, and is calculatedusing share prices and the FX rate as of Aug 6, 2024. This figures is provided as reference value and does not guarantee or imply future values.
*1 As of the end of each quarter*2 For details, see Appendix “LTV Calculation: SBG Stand-alone Equity Value of Holdings” and “LTV Calculation: SBG Stand-alone Net Debt.”
•

10.9%

Pro
forma
試算値
(as of Jun 30, 2024)

Applying share prices and
FX rate as of Aug 6, 2024

Finance 14

Cash Position and Future Bond Redemptions

Maintain ample cash position, well over 2-year worth of bond redemptions
Cash position

Bond redemption schedule*3¥4.6 T*1

795.0

3,813.7

Jun 2024(¥ B)
Undrawn commitment line*2＞

Bond redemptions
for the next 2 years (¥1.4T*4)
301.9
520.3

Completedrefinancing

861.6

693.2

902.2

Jul 2024

Jul 2025

Jul 2026

Jul 2027- Jun 2025

- Jun 2026

- Jun 2027

- Jun 2028

After 1 year

After 2 years

After 3 years

After 4 years*1 Cash and cash equivalents + short term investments recorded as current assets + bond investments + undrawn commitment line. SBG stand-alone basis (excl. SB Northstar; however,incl. its cash and cash equivalents and bond investments).
*2 The total size of commitment line is equivalent to ¥795.0B as of Jun 30, 2024, none of which is drawn.
*3 Outstanding balance as of Jun 30, 2024.
*4 The bond redemptions amount for the next two years from Jul 2024, minus the issuance amount (¥301.9B equiv.) of the foreign currency-denominated senior bonds issued in Jul 2024

Finance 15

Currency Breakdown and Yield of Cash Position
Continuing high yield operations primarily with USD deposits
Breakdown of cash position*1
(¥ T)

(%)

3.8

Subsidiaries

0.9

JPY

0.8

USD

Yield for SBG USD deposits, etc.
5.2%

5.5%

5.5%

5.5%

4.4% US 10Y
Treasury
yield

4.5%

2.1

Jun 2024

FF Rate(Upper Limit)
Yield*2

4.9%

Bank deposit
MMF
Investment ingovernment andcorporate bonds, etc.

5.4%

2.9%

Q2

FY2022Q3Q4Q1FY2023

Q2

Q3

Q4

Q1

FY2024*1 Cash position = cash and cash equivalents + short term investments recorded as current assets + bond investments. SBG stand-alone basis (excl. SB Northstar; however, incl. its
cash and cash equivalents and bond investments)*2 Average of the yield in each quarter

Finance 16

Historical Invested Amounts (SVF + SBG)
Invested $1.9B in Q1
($ B)

SBG*1

2.5

FY2023 total$3.9B

FY2022 total
$4.0B

0.2

1.9

1.8
1.5
SVF*2

0.9

1.2

2.3
1.1

0.5
0.1

0.5

0.4
Q1

Q2

FY2022

0.2
0.3
Q3

0.5
0.1

0.4
Q4

0.3

0.3

0.4

0.2
0.1

0.3
0.1

Q2

Q3

Q4

0.9

Q1

FY20230.6

Q1

FY2024*1 Investment by SBG and its primary wholly owned subsidiaries (excludes investments in U.S. Treasury bonds) ＋ the amount paid to third-party shareholders in connection with the subsidiaryacquisitions of Berkshire Grey, Inc. in July 2023 and Balyo SA in October 2023, net of cash and cash equivalents held by these companies. Excludes the amount invested in intragrouptransactions.
Finance 17*2 Sum of new and follow-on investments, including those through share exchanges. Excludes the amount invested by SVF to acquire investments transferred from SBG.

Bond Redemption Schedule

Bond issuances are managed with due consideration for cash position andmarket environment. Completed refinancing for bond redemptions in FY24(¥ B)

1,640.9

Domestic senior bonds
Domestic subordinated bonds
Domestic hybrid bonds
Foreign currency-denominated senior notes
Foreign currency-denominated hybrid notes

389.8

1,098.2
999.0

699.8
185.3

165.3

861.1

322.0
656.9

405.0
523.0

177.0

Redeemed

450.0

222.0

1,029.1

281.9
500.0

527.9

435.0

211.1

550.0

570.0

FY2025

FY2026FY2027

151.5
151.5

30.0

64.5
FY2024

221.9

550.0

291.1

FY2028FY2029FY2030

FY2031

FY2032• Outstanding balance as of Jun 30, 2024. However, incl. domestic senior bonds redeemed at maturity in Jun 2024 and foreign currency-denominated senior notes issued in Jul 2024. The domestic senior bonds
redeemed in Jun 2024 and the foreign currency-denominated senior notes redeemed in Jul 2024 are indicated by dashed lines.
• Prepared on the assumption that hybrid bonds will be redeemed on the first call dates• For foreign-currency notes, the contracted swap foreign exchange rate is applied where applicable. Converted at $1=¥161.07 and €1=¥172.33 elsewhere.

Finance 18

Bond Issuances in 2024

Already secured ¥1.5T equiv. in funding, completing FY2024 bondrefinancing. Next redemption is in April 2025

March

April

June

July

Domestic
retail bonds

Domestic
institutionalbonds

Domestic
retail bonds

Foreigncurrencydenominatednotes¥550.0B¥100.0B¥550.0B¥301.9B equiv.*

Total ¥1.5T equiv.

Allocated to bond redemptions and payments forpayable amount of the consideration for Arm shares* Converted at the contracted swap foreign exchange rate.

Finance 19

Issuance of Foreign Currency-denominatedSenior Notes (July)
First foreign currency-denominated senior notes issuance in three years
since 2021. Issued amid continuous tightening of our credit spread
Total size
Currency

Spread of SBG foreign currency
denominated senior notes*3~$1.9B (¥301.9B equiv.)*1
USD

900

EUR

bps

Pricing
6/27

800
700
600

Maturity

5-year7-year 4.5-year 8-year

500
400

Amount

$400M

$500M

€450M

€450M

300
200

Coupon*2

6.750% 7.000% 5.375% 5.750%

100

USD 4.000% (1.9Y)
USD 5.250% (6.9Y)
EUR 3.875% (7.9Y)

0
Jul 2021

Jul 2022

USD 4.625% (3.9Y)
EUR 3.375% (4.9Y)
EUR 2.875% (2.4Y)

Jul 2023*1 Converted at the contracted swap foreign exchange rate.
*2 The USD-denominated 7-year note at 7.000% translates to ~2.84% in JPY terms, while the EUR-denominated 8-year note at 5.750% translates to ~3.14% in JPY terms. These figures areindicative values calculated based on Bloomberg (swap costs not incorporated).
Finance 20*3 Created by SBG based on Bloomberg. Z-spread. As of Jun 30, 2024

Issuance of Domestic Retail Senior Bonds (June)

Following the retail bonds issued in March, strong appetite was observed#63 Senior retail bonds(Fukuoka SoftBank HAWKS Bond)

Amount¥550.0BTenor

7 years

Coupon3.03%# of sales toretail investors*~115k

Use ofproceeds

Bond redemption and a partof Payable amount of theconsideration for Arm shares

Issuance spreads(Comparison with recent domestic bonds)
260 bp
250

The spread over government
bonds (7-year residual maturity)
at the time of issuance

259bp

Tightened by 33bp

240
230

Expanded retail investor basethrough continuous issuances*Estimated by SBG based on feedback from underwriting securities firms.

220
210
200

229bp

226bp

JCR upgrade
#59
#62
#63
第59回
第62回
第63回
Senior retail Senior institutional Senior retail
bonds
bonds
bonds
リテールシニア
ホールシニア
リテールシニア
(Mar)
(Apr)
(Jun)

Finance 21

Investor Engagement

Aim to establish and deepen trust through active engagement with investors
and analysts. Consider every stakeholder and reflect in corporate actions

Investor engagement structure
Three-hub system: Japan, US, and UK)
IR department: total of 17 members*1+

Close engagement by otherdepartment and divisions

Major events• General meetings ofshareholders• Earnings results• Earnings investor briefing• Global investor call

Retail investors
Number of investors
Individual
Bondshareholders
investors

700K*2

160K*3

Promoting understanding of SBG throughcontinuous retail bond issuances

Issuance of SoftBank report(annual reports)

https://group.softbank/en/ir/financials/annual_reports/2024

Institutional investors

Engagement procedures

IR meetings
762 cases •624

FY2021661

FY2022(FY2023)

Conference attendance/
non-deal roadshows

Attended a total of 62
domestic and overseas
equity/debt conferences andnon-deal roadshows
FY2023•Arm business briefing*1 As of Jun 1, 2024. *2 Number of holders represents the total number of securities accounts that hold SBG’s corporate bonds. SBG estimates based on hearing from securities firms.
(As of Jun 30, 2024) *3 As of Mar 31, 2024

Finance 22

SBG Stand-alone Interest-bearing Debt*1

While non-recourse debt decreased due to settlement of financial liabilities
relating to prepaid forward contracts, interest-bearing debt slightly
Main changes from March 31, 2024
increased due to domestic bond issuances(¥ B)

14,083.3

7,442.8

6,640.5

Jun 2023

14,335.8

7,667.8

6,668.0

Sep 2023

13,765.7

7,169.9

6,595.8

Dec 2023

14,297.5

7,443.1

6,854.4

Mar 2024*1 Includes only interest-bearing debt and lease liabilities to third parties.
*2 Forex impacts are estimated figures.

14,328.8

7,167.0

7,161.8

Jun 2024••••

Settlement of prepaid forward transactions -¥386.6B
Forex impact on margin loan +¥81.3B*2
Increase from issuance and redemption of bonds +¥200.0B
Forex impact on foreign currency notes +¥109.8B*2

Nonrecourse to
Breakdown (June 30, 2024)
SBG
SBG borrowings
Bank loan
Hybrid loan
Subtotal
SBG bonds and CPs
Domestic senior bonds
Domestic subordinated bonds
Domestic hybrid bonds
Foreign notes
CPs
Subtotal
SBG lease liabilities
Subsidiaries’ debt
Financial liabilities relating to prepaid
forward contracts
Collar transactions using DT shares
Margin loan using SBKK shares
Margin loan using Arm shares
OthersSubtotal
Total

330.2
135.4
465.6

(¥ B)
QoQ
+2.5
+0.1
+2.7

2,593.7
1,019.6
792.1
2,052.5
168.0
6,625.9
9.0+194.6+0.5+0.1+115.1-8.5+301.8-0.3

4,785.9-386.6525.0
499.1
1,357.0
61.2
7,228.2
14,328.8

+28.1
+0.3
+82.1
+2.8
-272.9+31.3

Finance 23

SBG Stand-alone Cash Position
Continue to maintain ample cash position(¥ B)
SB Northstar

5,171.3
29.6

4,397.6
40.6

3,771.1
28.7

3,956.1
22.2

3,831.2
17.6

Main changes from March 2024
5,141.6

Jun 2023

4,357.0

Sep 2023

Increase
3,742.4

Dec 2023

3,934.0

Mar 2024

3,813.7

Decrease

・Domestic bond issuance (+¥650.0B)

・Cash settlement of collar transaction
using T-mobile shares (-¥548.3B) *2

・Sale and monetization of holding
assets (+¥312.3B)

・Redemption of domestic bonds atmaturity (-¥450.0B)

・Impact of Forex on USD deposits, etc.
(+¥96.0B) *1

・Contribution to SVF2/LatAm (-$0.3B)

Jun 2024(Note) Cash position = Cash and cash equivalents + short-term investments recorded as current assets (such as investments from asset management subsidiaries) + bond investments.
SBG stand-alone basis• From Sep 2023, SBG stand-alone cash position includes bond investments of SB Northstar.
*1 Impact from forex changes on outstanding balance of USD deposits, etc. as of Jun 2024 (estimated figure).
*2 Includes the cash settlement executed in Jun 2024 (¥410.2B) and the deposit paid in Q1 for the cash settlement executed in Jul 2024 (￥138.2B)

Finance 24

SBG Stand-alone Net Interest-bearing Debt
Adjusted net interest bearing-debt increased mainly due to rise in
SBG stand-alone gross interest-bearing debt(¥ B)

9,978.8

10,023.3

10,363.5

10,515.1

8,941.6

8,034.6

7,536.8

7,810.2

7,534.1

Finance-related adjustments
Asset-backed finance, etc. ¥7,167.0B
Hybrid finance ¥367.2B

Adjusted
SBG stand-alone net debt
(used for LTV calculation)

7,588.6

1,353.0
Jun 2023

1,944.1
Sep 2023

2,486.5

2,553.3

2,981.0

Dec 2023

Mar 2024

Jun 2024(Note) See Appendix “LTV Calculation: Details of SBG Stand-alone Net Debt” for details.

Finance 25

Funding and Fund Management Plans for FY2024

Flexibly select methods and scale while closely monitoring market
conditions
Products

Plans

Domestic bondPrimarily anticipated for refinancing

Foreign currency notePrimarily anticipated for refinancing

Bank loan/
short-term financing

Commitment lines*1, money trusts, CPs to be continuously rolled over

Asset-backed financeContinue to explore diversifying fundraising methods by leveraging ¥29T*2
of listed shares

Hybrid financePrimarily anticipated for refinancing(¥84.0B of hybrid loan to reach first call date in November)

Surplus fund managemet

Continue to work on diversifying excess cash management including
investments in MMFs, government bonds, and corporate bonds.

Completed refinancing
for FY2024*1 The total size of commitment line is equivalent to ¥795.0B as of Jun 30, 2024, none of which is drawn.
*2 As of Jun 30, 2024. Incl. shares of Arm, SoftBank Corp., T-Mobile, Deutsche Telekom and Alibaba. Net of asset backed financing. Before deduction of payable amount of theconsideration for Arm shares.

Finance 26

Historical Credit Ratings
Acquisition ofJapan Telecom

A+ 14
A

13

A-

12

Acquisitionof Vodafone KK

Acquisition
of Sprint

Acquisitionof ArmFirst upgrade in 12 years
Listingof SBKK

Listingof Arm

A-

11
BBB+

JCR

A

(Stable)

BBB10

S&P

BBB-9
BB+ 8
BB

7

BB

BB- 6
B+

5
4

(CY)

BB+
（Stable）

Upgradedin just 1 year

'03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24（Note）As of Aug 6, 2024

Finance 27

FY24 Financial Strategy

Steadfast financial principles
Flexibly respond to allenvironmental changes
Adhering to financial policy
Building trust with each stakeholder

Maintain LTV below 25% in normal times

1 (upper threshold of 35% even in times of emergency)

2 Maintain at least 2-year worth of bond redemptions in cash

3 Secure recurring distributions and dividend income
from SVF and other subsidiaries（Pursuing the optimal balance between
shareholder returns and financial improvement)

FY24 financial strategy•••

Effective utilization of ample cash position
Active use of non-recourse financing to support strategic
investments
Enhanced monitoring of portfolio → monetization and reinvestment
Finance 28

Newly Authorized Share Repurchase Program

Total amount(maximum)¥500B

Repurchase period: From Aug 8, 2024 to Aug 7, 2025

(Note) For details, refer to the press release dated Aug 7, 2024, "Resolution regarding Share Repurchase”

Finance 29

Appendix

SBG Credit Spread
Spread of SBG foreign currencydenominated senior notes
700

bps

SBG 5-year CDS

USD 1.9Y

USD 3.9Y

USD 6.9Y

EUR 2.4Y

EUR 4.9Y

EUR 7.9Y

600
500
400

500 bps

SBG 5Y CDS (JPY)

450
400
350
300
250

300
200

200
150
100

100
0

Dec 2022Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024

50
0

Dec 2022Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024

（Note）As of Aug 6, 2024. Created by SBG based on Z Spread from Bloomberg for the senior foreign currency-denominated notes issued in Jul 2021 and spread from Capital IQ for CDS.

Finance 31

Calculation of Equity Value of Holdings as of Jun 30, 2024
$1 = ¥161.07(¥ T)¥44.4T（unadjusted）
Prepaid Forward
Contracts, etc.
4.3
Margin Loans 1.9

Arm 21.0¥38.3T(adjusted)

Alibaba 0.01
SBKK 3.2
SVF1 3.9
SVF2 4.3

Deutsche
Telekom
0.4

LatAm Funds 1.0
T-Mobile 2.4
Others 2.0

Jun 2024

Equity value of holdings
Equity value of holdings＝（unadjusted）(adjusted)
PayableーAdjustment for
asset-backed financeー

Margin loan
¥1.4T

¥21.0T ＝

923M
Share priceamount for¥22.4Tshares held*1 × ＄163.62*1 Armtransaction*2¥0.01T ＝

¥3.7T

321M
× Share priceshares held*1＄72.00*1ーPrepaid forward
contracts, etc.
¥3.7T

¥3.2T

＝

¥3.8T

1,915M
shares held

Share price¥1,964.5ーMargin loans, etc.
¥0.6T

¥3.9T

＝

¥3.9T

¥4.3T

＝

¥4.3T

¥1.0T

＝

¥1.0T

¥2.4T

＝

¥2.4T

85M
shares held*3

×

Share price＄176.18

¥0.4T

＝

¥0.9T

225M
shares held×

Share price€23.48ーCollartransactions
¥0.5T

×

Equivalent asset × SBG’svalue of each fundinterest＋

Performance fees
accrued, etc.

(Note) See Appendix “LTV Calculation: SBG Stand-alone Equity Value of Holdings” and “LTV Calculation: SBG Stand-alone Net Debt” for details of each calculation.
*1 The number of ADSs equivalent to the number of shares held by SBG and the ADS price*2 Payable amount of the consideration for Arm shares acquired from SVF1 $12.0B (¥1.94T equiv.)

Finance 32

LTV Calculation: SBG Stand-alone Equity Value of Holdings(¥ T)(L) Adjusted
SBG stand-alone net debt

¥2.98T(V) Adjusted SBG stand-alone
equity value of holdings*1¥38.26T

Adjusted SBG
stand-alone equity
value of holdings

38.26

=

Major
assets

27.02+

SBG’s interest in
SVF1&2 & LatAm Funds

9.25

*2

3.72

3.76

2.42

Deutsche
Telekom
0.91

Asset-backed finance

-1.36

-3.72

-0.56

-

-0.54

Adjusted

21.02

0.01

3.20

2.42

0.37

Arm
Unadjusted

22.38

Alibaba

SBKK

=7.8%

T-Mobile

+

SVF1
SVF2
LatAm Funds

Other investments
in listed stocks, etc.

2.00
+3.88
+4.34
+1.02

(Note) As of Jun 30, 2024
*1 See Appendix “LTV Calculation: Details of SBG Stand-alone Equity Value of Holdings” for details of adjusted SBG stand-alone equity value of holdings for each asset.
*2 Number of Arm shares held by SBG x Arm share price (¥24.32T) - payable amount of the consideration for Arm shares (¥1.94T)

Finance 33

LTV Calculation:
Details of SBG Stand-alone Equity Value of Holdings (1/2)
Assets(a) Arm

Before adjustment for asset-backed
finance and deduction of payableamount of the consideration for Arm
sharesPayable amount of the consideration
for Arm shares
Before adjustment for asset-backed
finance

Value Calculation method

21.02
24.32

Multiplying the number of Arm ADSs equivalent to the number of shares held by SBG by the
ADS price-1.94

Payable amount of the consideration for Arm shares acquired from SVF1 ($12.0B)

22.38

Multiplying the number of Arm ADSs equivalent to the number of shares held by SBG by the
ADS price- payable amount of the consideration for Arm shares acquired from SVF1 ($12.0B)
Equivalent amount of outstanding debt for margin loans using Arm shares held by SBG(¥1,357.0B)

Before adjustment

-1.36
0.01
3.72

Adjustment for asset-backed finance-3.72

Adjustment for asset-backed finance(b)Alibaba(¥ T)

Multiplying the number of Alibaba ADSs equivalent to the number of shares held by SBG by the
ADS price
Sum of the outstanding maturity settlement amounts (calculated by using the company’s shareprice (ADS price) as of Jun 30, 2024) of the prepaid forward contracts (collar contracts, forward
contracts, and call spread) using Alibaba shares (¥3,716.3B)

Before adjustment

3.20
3.76

Adjustment for asset-backed finance-0.56

Equivalent amount of outstanding debt for margin loans using SBKK shares, etc. (¥564.6B)

3.88
4.34
1.02

SBG's share of the equivalent value of assets held by SVF1 + performance fees accrued, etc.

(c) SBKK(d) SVF1(e) SVF2(f) LatAm Funds(Note) As of Jun 30, 2024

Multiplying the number of SBKK shares held by SBG by the share price

SBG's share of the equivalent value of assets held by SVF2, etc.
SBG's share of the equivalent value of assets held by LatAm Funds + performance fees accrued

Finance 34

LTV Calculation:
Details of SBG Stand-alone Equity Value of Holdings (2/2)(¥ T)

AssetsValue Calculation method(g) T-Mobile

2.42(h) Deutsche Telekom

0.37

Before adjustment

0.91

Number of DT shares held by SBG × the share price

Adjustment for
asset-backed finance-0.54

Deducting maturity settlement amounts of collar transactions using DT shares executed in Oct 2021 (¥539.9B)

2.00

Listed shares: multiplying the number of shares held by SBG by each share price
Unlisted shares: fair value (the carrying amount in SBG’s balance sheet for those not measured at FVs) of shares,
etc. held by SBG
SB Northstar (Investments in listed stocks): SBG’s share of SB Northstar's NAV(i) Others*2
Adjusted SBG stand-alone
equity value of holdings

Number of T-Mobile shares held by SBG × the share price*1

38.26 Sum of (a) through (i)(Note) As of Jun 30, 2024
*1 Payments for the cash settlement of collar transactions using T-Mobile shares were completed by Jun 30. However, as part of the settlement was executed in July, financial liabilities
relating to prepaid forward contracts of ¥87.0B were recorded as of Jun 30. For the LTV calculation, the collar transaction's cash settlement is deemed executed as the entire
payment was considered completed by Jun, and all shares related to this collar transaction are included in the equity value of holdings. Additionally, the ¥87.0B in financial liabilities
is deducted from the SBG stand-alone interest-bearing debt.
*2 SB Northstar’s cash and cash equivalents, bond investments and interest-bearing debt, other than margin loans and prime brokerage loans, are treated as net interest-bearing debt
of SBG and not included in the calculation of SB Northstar’s NAV. There is no balance of margin loans and prime brokerage loans of SB Northstar as of Jun 30, 2024.

Finance 35

LTV Calculation: SBG Stand-alone Net Debt
(L) Adjusted
SBG stand-alone net debt*1(V) Adjusted SBG stand-alone
equity value of holdings(¥ T)

Adjusted SBG
stand-alone net
debt

2.98
SBKK
Arm
SVF1
SVF2

+4.99
-0.36
-0.02
+0.54

=

Consolidated
net debt

15.62

LatAm Funds
Other‐0.004-0.04¥2.98T¥38.26T-=7.8%

Net debt at selffinancing entities,
etc.

5.10

-

Other
adjustments

7.53

Adjustments for hybrid finance*2
Adjustments for asset-backed finance, etc.*2

+0.37
+7.17

(Note) As of Jun 30, 2024
*1 The presented net debt only includes debts to third parties. The presented net interest-bearing debt excludes the amount calculated as deposits for banking business less cash
position at PayPay Bank.
*2 See Appendix “LTV Calculation: Details of SBG Stand-alone Net Debt” for details.

Finance 36

LTV Calculation: Details of SBG Stand-alone Net Debt(¥ T)

SBG stand-alone net debt
(before adjustment)

10.52

Consolidated net interest-bearing debt - net interest-bearing debt
at self-financing entities*1

Adjustment for hybrid
finance‐0.37

For hybrid bonds and hybrid loans with maturity dates, deduct 50% from interest-bearing debt;
as the entire amount is recorded as interest-bearing debt in the consolidated financial statements.
As for perpetual bonds, add 50% to interest-bearing debt; as the entire amount is recorded as
equity in the consolidated financial statements.

Adjustments for assetbacked finance, etc.

‐7.17

Arm shares-1.36

Amount equivalent to the outstanding debt balance of the borrowings made through margin loanusing Arm shares (¥1,357.0B)

SBKK shares-0.55

Equivalent amount of debt outstanding for margin loans using SBKK shares, etc. (¥552.5B)

T-Mobile shares-0.09

Financial liabilities relating to prepaid forward contracts (collar contracts) using T-Mobile shares(¥87.0B)*2

Deutsche Telekom shares-0.52

Amount equivalent to the outstanding debt balance relating to collar transactions using Deutsche
Telekom shares executed in Oct 2021 (¥525.0B)

Alibaba shares-4.65

Financial liabilities relating to prepaid forward contracts (collar contracts and forward contracts)
using Alibaba shares (¥4,645.5B)

Adjusted SBG stand-alone
net debt

2.98(Note) As of Jun 30, 2024
• Net interest-bearing debt = Interest-bearing debt - cash position• Cash position = Cash and cash equivalents + short-term investments recorded as current assets + bond investments*1 Self-financing entities include SB Northstar; however, SB Northstar’s cash and cash equivalents, bond investments and interest-bearing debt, other than margin loans and prime
brokerage loans, are treated as SBG stand-alone net interest-bearing debt. There is no balance of margin loans and prime brokerage loans of SB Northstar as of Jun 30, 2024.
*2 Payments for the cash settlement of collar transactions using T-Mobile shares were completed by Jun 30. However, as part of the settlement was executed in July, financial liabilities
relating to prepaid forward contracts of ¥87.0B were recorded as of Jun 30. For the LTV calculation, the collar transaction's cash settlement is deemed executed as the entire
payment was completed by Jun 30, and all shares related to this collar transaction are included in the equity value of holdings. Additionally, the ¥87.0B in financial liabilities relating
to prepaid forward contracts is deducted from the SBG stand-alone interest-bearing debt.

Finance 37

Adjustment for Asset-backed Financein LTV and NAV Calculation
Non-recourse asset-backed finance is deducted from debt.
Value of assets required for settlement is deducted from assets
1

Forward/Collartransactions

(¥ T)
2

44.4

Margin loan

Main shares
used

Alibaba

SBKK, Arm

1

4.3

NatureFunding through variable
prepaid forward contracts*1(non-recourse to SBG)

Funding by pledging shares as
collateral(non-recourse to SBG)

2

1.9

Amounts
deductedfrom debt• Carrying amount on BS• Fixed regardless of the shareprice• Carrying amount on BS• Fixed regardless of the shareprice

Amounts
deductedfrom assets• Estimated settlement amountat maturity based on the
Equivalent to the value of assets
quarter-end share pricerequired for repayment (amount• Fluctuates depending on theof debts recorded on BS)
share priceIf shareprice falls• Settlement amountdecreases if the share pricefalls below the floor price• Neither additional collateralor prepayment are required

Asset-backed
finance¥6.2T

Used for
LTV and NAV calculation

38.3
10.5

• Additional collateral and/or
prepayment is required if theshare price falls below a certainlevel• Total repayment amount is
fixed(Note) As of Jun 30, 2024
*1 Contracts to buy or sell shares at a pre-agreed price (forward) or a price range (collar) at maturity

Equity value of holdings

1

5.3

2

1.9

3.0

SBG stand-alone
net debt

Asset-backed
finance, etc.
¥7.2T
Hybrid finance¥0.4T

Finance 38

Geographical Portfolio Diversification

Proportion of China decreased significantly.
Proportion of EMEA increased significantly due to growth of Arm’s value
10%
29%

12%

17%

6%

China
Japan
APAC

62%

EMEA

2%

Latin America
North America

6%10%(excluding China and Japan）

13%

9%
20%

Net of asset-backed
finance

32%

4%

5%

25%

23%

Jun 2022

Jun 2023

14%

Jun 2024(Note) Classification of regions based on the location of each portfolio company's headquarters
China: Alibaba, investments in China from SVF1 and SVF2, and other investment in China
Japan: SoftBank, investments in Japan from SVF1 and SVF2, and other investments in Japan
APAC (excluding China and Japan): Investments in APAC excluding China and Japan from SVF1 and SVF2, and other investments in the region
EMEA: Arm, Deutsche Telekom, investments in EMEA from SVF1 and SVF2, and other investments in EMEA
Latin America: Investments from LatAm Funds and SVF1, and other investments in Latin America
North America: T-Mobile, investments in North America from SVF1 and SVF2, and other investments in North America

Finance 39

Breakdown of Equity Value of Holdings

21%

22%

14%

14%

11%

8%

Net of assetbacked finance

39%

8%

5%

7%
6%

16%
21%

24%

10%
11%

4%
8%

5%
8%

Jun 2021

Jun 2022

Jun 2023

Jun 2024

73%

49%

36%

82%

9%

Proportion oflisted shares*1

8%
7%

19%
9%

18%

55%

2%

3%
5%

SBKK
T-Mobile / Deutsche Telekom
SVF1(64 investments)
SVF2(271 investments)
LatAm (89 investments)
Others(Note)For details of equity value of holdings as of each June, see appendix of the Earnings Results Investor Briefing Presentation materials of each quarter.
*1 Proportion of listed shares includes shares of Alibaba, Arm, SoftBank Corp., T-Mobile, Deutsche Telekom, listed shares held by SVF1, SVF2 and LatAm Funds and public companies
included in Others. (SVF1, SVF2, and LatAm Funds figures are for SBG’s interest only.)

Finance 40

Proportion of Listed Shares

Proportion of listed shares is 82%, resulting in the portfolio's liquidity
being at an extremely high level

Net of assetbacked finance

Unlisted

18%

27%
51%

Listed

64%

82%

73%
49%

Jun 2021

Jun 202236%

Jun 2023

Jun 2024* Proportion of listed shares: Shares of Alibaba, Arm, SoftBank Corp., T-Mobile, Deutsche Telekom, listed shares held by SVF1, SVF2 and LatAm Funds and publiccompanies included in Others. Includes Arm in Jun 2024. SVF1, SVF2, and LatAm Funds figures are for SBG’s interest only.

Finance 41

Breakdown by Currency

Investment and monetization flows are mainly in USD, while debt refinancing isprincipally in the same currency

Investments and monetization
Cash position: ¥3.8T*1
Subsidiaries

Debt composition

Equity value of holdings: ¥38.3T*2
JPY

EUR

Net of assetbacked financeDebt*3: ¥7.1T
EUR

USD

16%
JPY

65%
76%
USD

91%
USD

(Note) As of Jun 30, 2024. Converted to JPY at $1=¥161.07 and €1=¥172.33*1 Cash position = Cash and cash equivalents + short term investments recorded as current assets + bond investments.
SBG stand-alone basis (excl. SB Northstar; however, incl. its cash and cash equivalents and bond investments).
*2 SBG stand-alone equity value of holdings. See Appendix “LTV Calculation: SBG Stand-alone Equity Value of Holdings” for details.
*3 SBG stand-alone interest-bearing debt (excl. non-recourse debt and “other” of the SBG stand-alone interest-bearing debt) as of Jun 30, 2024.

71%
JPY

Finance 42

Increase/Decrease in Cash Position (FY2024Q1)

Maintained ample cash position*1 through monetization and funding
despite new investments and cash settlement, etc.

Financing,
repayment, etc.*2
Monetization throughsale of assets*3

0.2

0.3

+0.5

0.5
0.3

-0.8
3.9

Cash position(Mar 2024)

Cash settlement of collartransactions using T-Mobile shares*4
SVF’s investment and SBG’sstrategic investment*5

0.2

Interests/dividends
income¥0.12TInterests/dividends
expense/tax-¥0.11Tand others

Increase

Decrease(¥ T)

Others

3.8

Cash position(Jun 2024)(Note) Converted to JPY at average rate of each quarter*1 Cash position: Cash position = cash and cash equivalents + short term investments recorded as current assets + bond investments. SBG stand-alone basis (excl. SB Northstar; however, incl. its cash and cash equivalents and bond investments)*2 Financing, repayment, etc.: Net amount of bonds issued (total of ¥650.0B of domestic bonds) and bonds redeemed and repurchased (including ¥550.0B of domestic bonds).
*3 Monetization through sale of assets includes sale of Fortress shares and T-Mobile shares*4 Cash settlement of collar transactions using T-Mobile shares: Includes the cash settlement executed in Jun 2024 (¥410.2B) and the deposit paid in Q1 for the cash settlement executed in Jul 2024 (￥138.2B)*5 SVF’s investment and SBG’s strategic investment: invested amounts of $0.6B by SVF and $1.2B by SBG. Invested amounts by SVF: Sum of new and follow-on investments by SVF1, SVF2 and LatAm funds, including those through shareexchanges. Excludes the amount invested by SVF to acquire investments transferred from SBG. Excludes the amount invested in intragroup transactions. Invested amounts for strategic investments by SBG: Investment by SBG and its primary
wholly owned subsidiaries (excludes investments in U.S. Treasury Bonds).

Finance 43

Consolidated Interest-bearing Debt/ Cash Position/
Net Interest-bearing Debt

Consolidated Interest-bearing Debt*1

Jun 2023

Sep 2023

Dec 2023(¥ B)
Mar 2024

Jun 2024

SBG stand-alone

14,083.3

14,335.8

13,765.7

14,297.5

14,328.8

Incl. SB Northstar

-

-

-

-

-

SVF1&2 and LatAm Funds

1,419.9

542.2

513.2

547.9

583.1

SoftBank Segment

6,240.6

6,326.0

6,471.9

6,321.1

6,642.0

Others (Arm, etc.)

164.6

189.8

183.9

195.6

46.1

20,934.7

21,362.0

21,599.9

Total

3,643
21,393.7

21,908.5

Cosolidated Cash Position*2(¥ B)
Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

SBG stand-alone

5,171.3

4,397.6

3,771.1

3,956.1

3,831.2

Incl. SB Northstar

29.6

40.6

28.7

22.2

17.6

SVF1&2 and LatAm Funds

112.9

79.6

65.7

176.0

72.7

SoftBank Segment

1,534.8

1,783.3

1,865.0

1,792.3

1,650.7

Others (Arm, etc.)

388.8

451.0

469.3

552.3

426.1

7,207.7

6,711.5

6,171.0

6,476.8

5,980.8

Total
Consolidated Net Interest-bearing Debt*3(¥ B)
Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

SBG stand-alone

8,912.0

9,938.1

9,994.6

10,341.3

10,497.6

Incl. SB Northstar

-29.6

-40.6

-28.7

-22.2

-17.6

SVF1&2 and LatAm Funds

1,307.0

462.6

447.6

371.9

510.4

SoftBank Segment

4,705.8

4,542.7

4,606.9

4,528.7

4,991.3

Others (Arm, etc.)-224.1-261.2-285.4-356.7-380.1

14,700.7

14,682.2

14,763.7

14,885.2

15,619.1

Total*1 The presented interest-bearing debt only includes interest-bearing debt and lease liabilities to third parties, and excludes deposits for banking business at PayPay Bank.
*2 Cash position = Cash and cash equivalents + short term investments recorded as current assets + bond investments.
Cash position from Sep 2023 includes bond investments, however only investment in government bonds as of Sep 2023.
SBG stand-alone cash position excludes cash position at PayPay Bank while including SB Northstar’s cash and cash equivalents and bond investments (from Dec 2023).
*3 The presented net interest-bearing debt excludes the amount calculated as deposits for banking business less cash position at PayPay Bank. Negative figures indicate net cash.

Finance 44

QUARTER ENDED JUNE 30, 2024

Investor Briefing

SoftBank Vision & LatAm Funds
NAVNEET GOVIL
CFO, SB Investment Advisers & SB Global Advisers

2

Important Information (1 of 2)This presentation (this “Presentation”) is furnished to you for informational purposes in connection with the interests of SoftBank Group Corp. (together with its affiliates, “SoftBank”) in SoftBank Vision Fund L.P. (together
with, as the context may require, any parallel fund, feeder fund, co-investment vehicle or alternative investment vehicle, the “Vision Fund 1” or “SVF1”) or SoftBank Latin America Fund GP Ltd and SBLA Holdings II DE LLC(together with, as the context may require, any parallel funds, feeder funds, co-investment vehicles or alternative investment vehicles, the “LatAm Funds”) and is not, and may not be relied on in any manner as, legal, tax,
investment, accounting or other advice or as an offer to sell or a solicitation of an offer to buy limited partnership or comparable limited liability equity interests in the Vision Fund I or any other fund, managed by SB
Investment Advisers (UK) Ltd. ( the “Manager” or “SBIA”), or SoftBank Vision Fund II-2 L.P. (together with, as the context may require, any parallel fund, feeder fund, co-investment vehicle or alternative investment vehicle,“SVF2” or the “Vision Fund 2”), managed by SB Global Advisers Limited (“SBGA”) and its affiliates thereof. This Presentation is not intended to be relied upon as the basis for any investment decision, and is not, and should
not be assumed to be, complete. The contents of this Presentation are not to be construed as legal, business or tax advice.
None of Vision Fund 1, Vision Fund 2, the LatAm Funds, any successor fund managed by the Manager, SBIA, SBGA, SoftBank or their respective affiliates makes any representation or warranty, express or implied, as to theaccuracy or completeness of the information contained herein and nothing contained herein should be relied upon as a promise or representation as to past or future performance of Vision Fund 1, Vision Fund 2, the LatAm
Funds, any successor fund managed by the Manager, SBGA or any other entity referenced in this Presentation.
Recipients of this Presentation should make their own investigations and evaluations of the information contained in this Presentation and should note that such information may change materially.
For the avoidance of doubt, the Vision Fund 1 is a prior fund managed by SBIA which is not being offered to investors. Information relating to the performance of the Vision Fund 1 or any other entity referenced in thisPresentation has been included for background purposes only and should not be considered an indication of the future performance of the Vision Fund 1, any other entity referenced in this Presentation or any future fundmanaged by SBIA. References to any specific investments of the Vision Fund 1, to the extent included herein, are presented to illustrate the Manager’s investment process and operating philosophy only and should not be
construed as a recommendation of any particular investment or security. The investment performance of individual investments in the Vision Fund 1 may vary and the performance of the selected transactions is notnecessarily indicative of the performance of all of the applicable prior investments. The specific investments identified and described herein do not represent all of the investments made by the Manager, and no assumption
should be made that investments identified and discussed herein were or will be profitable.

Statements contained in this Presentation (including those relating to current and future market conditions and trends in respect thereof) that are not historical facts are based on current expectations, estimates,
projections, opinions and/or beliefs of the Manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. In addition, no representation or
warranty is made with respect to the reasonableness of any estimates, forecasts, illustrations, prospects or returns, which should be regarded as illustrative only, or that any profits will be realized. Certain information
contained herein constitutes “forward-looking statements,” which can be identified by the use of terms such as “may”, “will”, “should”, “expect”, “project”, “estimate”, “intend”, “continue”, “target” or “believe” (or thenegatives thereof) or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or actual performance of the Vision Fund 1 or any successor fund managed by theManager (or any other entity referred to herein) may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward-looking statements inmaking their investment decisions. Further, the targets stated herein are based on an assumption that economic, market and other conditions will not deteriorate and, in some cases, improve. These projections involve
significant elements of subjective judgment. No representation or warranty is made as to future performance or such forward-looking statements. None of the information contained herein has been filed with the U.S.
Securities and Exchange Commission, any securities administrator under any securities laws of any U.S. or non-U.S. jurisdiction or any other U.S. or non-U.S. governmental or self-regulatory authority. No suchgovernmental or self-regulatory authority will pass on the merits of the offering of interests in the Vision Fund 1, or any successor fund managed by the Manager or the adequacy of the information contained herein. Any
representation to the contrary is unlawful. Except where otherwise indicated herein, the information provided in this Presentation is based on matters as they exist as of the date of preparation of this Presentation and not asof any future date, and will not be updated or otherwise revised to reflect information that subsequently becomes available, or circumstances existing or changes occurring after the date hereof.

3

Important Information (2 of 2)
Vision Fund 1 performance herein is based on unrealized valuations of portfolio investments. Valuations of unrealized investments are based on assumptions and factors (including, for example, as of the date of thevaluation, average multiples of comparable companies, and other considerations) that the Manager believes are reasonable under the circumstances relating to each particular investment. However, there can be noassurance that unrealized investments will be realized at the valuations indicated herein or used to calculate the returns contained herein, and transaction costs connected with such realizations remain unknown and,
therefore, are not factored into such calculations. Estimates of unrealized value are subject to numerous variables that change over time. The actual realized returns on the Vision Fund 1’s unrealized investments will depend
on, among other factors, future operating results, the value of the assets and market conditions at the time of disposition, any related transaction costs and the timing and manner of sale, all of which may differ from theassumptions and circumstances on which the Manager’s valuations are based.
Vision Fund 1 performance is based in part on valuations of certain investments that were recently acquired by the Vision Fund 1 as a portfolio from SoftBank Group Corp; accordingly, the performance information herein,
which is based in part on valuations of unrealized investments, is not indicative of future results. The selection of such investments, the timing of such acquisitions and the valuation and subsequent performance of thoseinvestments had a material and positive impact on the performance of the Vision Fund 1. SoftBank Group Corp. is under no obligation to offer similar assets to the Vision Fund 1 in the future.
Past performance is not necessarily indicative of future results. The performance of the Vision Fund 1 or any future fund managed by the Manager may be materially lower than the performance information presented
herein. There can be no assurance that the Vision Fund 1, Vision Fund 2 or any successor fund managed by the Manager will achieve comparable results as those presented herein or that investors in the Vision Fund 1,
Vision Fund 2 or any successor fund managed by the Manager will not lose any or all of their invested capital.
Certain information contained in this Presentation has been obtained from published and non-published sources prepared by other parties, which in certain cases has not been updated through the date hereof. While suchinformation is believed to be reliable for the purposes of this Presentation, none of the Vision Fund 1, Vision Fund 2, any successor fund managed by the Manager, the Manager, SoftBank, or their respective affiliates
assumes any responsibility for the accuracy or completeness of such information and such information has not been independently verified.
Certain hypothetical illustrations set forth herein contain projections, targets, assumptions and expectations with respect to the performance of investments. These hypothetical returns, including the projections, targets,assumptions and expectations contained therein, have been prepared and are set out for illustrative purposes only, and do not constitute forecasts. They have been prepared based on the Manager’s current view in relation
to future events and various assumptions and estimations, including estimations and assumptions with respect to events that have not occurred, any of which may prove incorrect. Others may select other underlying
assumptions or methodologies that would significantly affect the projected returns or performance information set forth herein, even materially.
Third-party logos and vendor information included herein are provided for illustrative purposes only. Inclusion of such logos does not imply affiliation with or endorsement by such firms or businesses. There is no guaranteethat the Manager, the Vision Fund 1’s portfolio companies, any future portfolio companies of a successor fund managed by the Manager or SoftBank will work with any of the firms or businesses whose logos are included
herein in the future.

PERFORMANCE UPDATEPORTFOLIO UPDATESPOTLIGHT

4S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG

Venture Capital Cycle Remains Under Pressure
Private Valuations, Excluding AI,
Remain Subdued

Challenged Exit Environment

Distributions Hit Decade Low

Median Late-Stage VC Valuations ($mm)1

US VC Public Listing Exit Value ($B)2

VC Fund Distributions as Share of NAV3

2018 – 2024 YTD

2018 – 2024 YTD

2018 – 2023

$700
$120

589

$600
$500

$80

25%

$400
SaaS
Fintech$60$40

E-Commerce

$20

20%

$300
178

$200
$100

15%

210

2019

2020

2021

2022

2023

2024
YTD

Valuations remain below 2021 levels in
key verticals – except for AI

5%

10%

65

41

29

28

2022

2023

2024
YTD

5%
0%

$0

$0
2018

30%

AI

$100

33%

35%

2018

2019

2020

2021

Sharp decline in exits since 2021, with onlya modest recovery projected for 2024

2018

2019

2020

2021

2022

2023

Distributions as a share of NAV for VC funds
down significantly from 2021 peak

Footnotes:
1. Source: Pitchbook: Q1 2024 US VC Valuations Report. Data represent median late-stage pre-money valuations. “2024 YTD” figures as of March 31, 2024.
2. Source: Pitchbook: Q2 2024 PitchBook-NVCA Venture Monitor. “2024 YTD” figures as of June 30, 2024.
3. Source: Pitchbook: Q2 2024 PitchBook-NVCA Venture Monitor. Data represent VC funds aged 5-10 years through December 31, 2023.
The graphs presented herein were sourced from third parties that the Manager believes are reliable; however, the Manager has not independently verified the information presented. The information is provided for illustrative purposes only.

SVF1

SVF2

LATAM

PERFORMANCE UPDATEPORTFOLIO UPDATESPOTLIGHT

5

QUARTERLY FAIR VALUE PERFORMANCE 1+$2.8B$(2.6B)$(0.1B)+$0.2B

SVF1

SVF2

LATAM

COMBINED

PUBLIC+$1.4B$(1.1B)+$0.0B+$0.4BPRIVATE+$1.4B$(1.5B)$(0.1B)$(0.2B)

Public gains driven by
Coupang, up 18% QoQ.

Public losses driven by
AutoStore, down 37%
QoQ.

Foreign currency
depreciation a primaryfactor in muted public
and private fair value
movements.

SOFTBANK VISION & LATAM FUNDS:INVESTOR BRIEFING

Quarterly
Performance
As of June 30, 2024

Private gains driven by
ByteDance,
demonstrating continued
strong performance in its
core China business.

Private losses
impacted by re-ratingof public FinTech and
SaaS multiples.

Footnotes:
1. Quarterly Fair Value Performance is the change in fair value of the SoftBank Vision Fund 1, SoftBank Vision Fund 2, and SoftBank LatAm Funds, together the "Combined Funds“, between April 1, 2024, and June 30, 2024. The change in Quarterly Fair Value Performance isbefore tax and expenses and includes Unrealized and Realized gains and losses from Investments and their related hedges, and dividend income received. Combined figures may differ from the sum of the parts due to rounding.
Valuations reflect unrealized and partially realized estimated amounts and should not be construed as indicative of actual or future performance. Such values do not reflect fees and expenses that would reduce the value of returns experienced by Vision Fund investors. Thereis no guarantee that historical trends will continue throughout the life of SoftBank Vision Fund 1, SoftBank Vision Fund 2, or the SoftBank LatAm Funds. There can be no assurance that unrealized and partially realized investments will be sold for values equal to or in excess ofthe total values used in calculating the returns portrayed herein. Actual returns on unrealized and partially realized investments will depend on, among other factors, future operating results, the value of the assets and market conditions at the time of disposition, any relatedtransaction costs and the timing and manner of sale, all of which may differ from the assumptions on which the valuations reported herein are based. Accordingly, the actual realized returns on investments that are partially realized or unrealized may differ materially from thevalues indicated herein. Select investments presented herein are solely for illustrative purposes, have been selected to provide examples of the types of investments made by SBIA and do not purport to be a complete list of SoftBank Vision Fund 1, SoftBank Vision Fund 2, or
LatAm Fund investments. References to investments included herein should not be construed as a recommendation of any particular investment or security. It should not be assumed that investments made in the future will be comparable in quality or performance to theinvestments described herein. Please refer to visionfund.com/portfolio for a more complete list of SoftBank Vision Fund 1 and SoftBank Vision Fund 2 Investments. Please refer to latinamericafund.com/portfolio for a complete list of LatAm Fund investments. Past
performance is not necessarily indicative of future results.

SVF1

SVF2

LATAM

PERFORMANCE UPDATEPORTFOLIO UPDATESPOTLIGHT

6

SoftBank
Vision Fund 1

SoftBank
Vision Fund 2

SoftBank
LatAm Funds

Combined5

Total Commitments1$98.6B$59.8B$7.8B$166.2B

Acquisition Cost2$87.8B$54.2B$7.4B$149.4B

Cumulative Gross
Investment Gains/(Losses)2$21.7B$(22.9B)$(1.2B)$(2.4B)

Total Fair Value3$109.5B$31.3B$6.2B$147.0B

Distributions4$51.5B

$9.2B

$0.4B

$61.0BSOFTBANK VISION & LATAM FUNDS:INVESTOR BRIEFING

Performance
Snapshot
As of June 30, 2024

Footnotes:
1. Effective September 27, 2023, the Manager may allocate undrawn Commitments from SVF2 to the LatAm Funds, up to the amount of $4B. In such circumstances, the total commitment to SVF2 will be reduced. On October 3, 2023, a transfer of commitment amounting
to $200mm was made from SVF2 to the LatAm Funds, reducing the total commitment of SVF2 to $59.8B and increasing the total commitment of the LatAm Funds to $7.8B. Effective July 9, 2024, the commitment of SVF2 has been increased by $1B, to $60.8B.
2. Acquisition Cost and Cumulative Gross Investment Gains/(Losses) are cumulative from Fund Inception to June 30, 2024. Cumulative Gross Investment Gains/(Losses) are before tax and expenses and include Unrealized and Realized gains and losses from Investments
and their related hedges and dividend income received. Cumulative Gross Investment Gains does not take into account fees or expenses and should not be construed as indicative of actual or future performance. Total figures may differ from the sum of parts due torounding. The Total Value to Paid in Capital (TVPI) of SoftBank Vision Fund 1 is 1.19x. The TVPI is defined as Distributions plus Net Asset Value plus Accrued Preferred Equity Coupon (PEC) divided by Paid-in Capital. Distributions and Paid-in Capital are cumulative from
Fund Inception to June 30, 2024. Net Asset Value plus Accrued PEC are as of June 30, 2024.
3. Total Fair Value is the Acquisition Cost plus Cumulative Realized and Unrealized Gross Investment Gains/(Losses) as of June 30, 2024.
4. Distributions include proceeds from Investment Realizations, Financings, and Preferred Equity Coupon distributed to Limited Partners from Fund Inception to June 30, 2024. It includes the Return of Recallable Utilized Contributions and the Return of Non-Recallable
Utilized Contributions but does not include the Return of Recallable Unutilized Contributions.
5. Combined figures may differ from the sum of the parts due to rounding.
The information herein is presented solely for SoftBank Vision Fund 1, SoftBank Vision Fund 2 and SoftBank LatAm Funds. These highlights are provided solely for illustrative purposes and individual investors' results may vary. Past performance is not necessarily indicative of
future results. Cumulative Gross Investment Gains/(Losses) and Total Fair Value include valuations of Unrealized Investments, do not take into account fees or expenses at the time of exit that would reduce the value of returns experienced by investors, and should not be
construed as indicative of actual or future performance. Actual Realized amounts will depend on, among other factors, future operating results, the value of the assets and market conditions at the time of disposition, any related transaction costs and the timing and manner ofsale, all of which may differ from the assumptions on which the valuations reported herein are based. Accordingly, the actual Realized returns on Investments that are Unrealized may differ materially from the values indicated herein.

SVF1

SVF2

LATAM

PERFORMANCE UPDATEPORTFOLIO UPDATESPOTLIGHT

7

S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG

Public Investments Overview

Top 10 Public Investments by Fair Value | As of June 30, 2024
SVF1

SVF2

LATAM

QUARTERLY FVCHANGE ($MM)4INVESTMENT# Current Investments1

39
Unrealized FV – Public2

8$20.7B% of Total Unrealized FV3

27%
Quarterly FV Change4+$0.4B

Other Investments

FV ($B)2NTM CONSENSUS
REVENUE GROWTH5+$1,105

$7.3

24%

$37.5

$86.5

+$300

$4.0

9%

$20.0

$79.1

+$172

$1.4

16%

$14.0

$33.7

+$163

$1.2

24%

$8.4

$22.3

+$30

$0.4

71%

$2.7

$6.2

+$3

$0.8

22%

$7.8

$10.4

$(40)

$0.4

17%

$3.5

$6.3

$(107)

$0.5

18%

$44.5

$84.4

$(197)

$0.7

40%

$20.6

$31.6

$(871)

$1.6

9%

$4.0

$18.0

$(189)$2.4

8%

Footnotes:
1. Current Investments includes publicly listed portfolio companies that have not been fully Realized as of June 30, 2024.
2. “Unrealized FV” and “FV” are the Unrealized value of the Combined Funds’ stakes as of June 30, 2024. Total figures may differ due to rounding.
3. % of Total Unrealized FV is the sum of the current public portfolio companies’ Unrealized FV divided by the Combined Funds’ total Unrealized FV as of June 30, 2024.
4. Quarterly FV Change is before tax and expenses and includes Unrealized and Realized gains and losses from Investments and their related hedges, and dividend
income received. Total figures may differ due to rounding.

CURRENT
MARKET CAP ($B)6

PEAK MARKETCAP ($B)79

10

5. Analyst consensus revenue growth expectations for the next twelve months. Source: CapIQ.
6. Market capitalization as of June 30, 2024. Source: CapIQ.
7. Highest historical market capitalization from IPO until June 30, 2024. Source: CapIQ.
8. Full Truck Alliance is both an SVF1 and SVF2 investment.
9. Highest historical market capitalization for Inter was achieved when the company was previously listed as Bacon Inter on Brazil's B3 stock exchange.
10. Represents the median for other publicly listed Investments, excluding those that are pre-revenue, de-listed, or with a market cap <$100mm. Source: CapIQ.

The information herein is presented solely for SoftBank Vision Fund 1, SoftBank Vision Fund 2 and SoftBank LatAm Funds. These highlights are provided solely for illustrative purposes and individual investors' results may vary. Past performance is not necessarily indicative of future
results. Unrealized FV and FV do not take into account fees or expenses at the time of exit that would reduce the value of returns experienced by investors, and should not be construed as indicative of actual or future performance. Actual Realized amounts will depend on, among
other factors, future operating results, the value of the assets and market conditions at the time of disposition, any related transaction costs and the timing and manner of sale, all of which may differ from the assumptions on which the valuations reported herein are based.
Accordingly, the actual Realized returns on Investments that are Unrealized may differ materially from the values indicated herein. Projected revenue growth presented herein is provided solely for illustrative purposes, reflects the current beliefs of industry analysts and was preparedby a third party and the Manager makes no representation regarding its accuracy. Peak market cap is shown for illustrative purposes only and SBIA is not implying, and it should not be assumed, that the company will meet or exceed its peak market cap in the future.

SVF1

PERFORMANCE UPDATEPORTFOLIO UPDATESPOTLIGHT

8S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG

Coupang & DiDi Update
As of June 30, 2024

$1.7B

$7.3B

Unrealized Cost1

Unrealized Fair Value2

20%$12.1B

Ownership3

Share Price Movement4
QUARTERLY FV CHANGE5

April 1, 2024 to June 30, 2024$25+$1,105mm

$5.25

NYSE

$23

+18%

$22
$21

$19

$18
$17
$16
Apr 24

May 24

Jun 2420%

Ownership3

QUARTERLY FV CHANGE5
OTC

$5.00

+$300mm$4.75

RECENT DEVELOPMENTS

$4.25
$4.00

Plans to raise subscription
service pricing by 58%,
projected to drive increased
profit margin7

Footnotes:
1. Unrealized Cost is the unrealized acquisition cost from the Combined Funds’ Inception to June 30, 2024.
2. Unrealized Fair Value is the unrealized value of the Combined Funds’ stakes as of June 30, 2024.
3. Ownership % is the ownership percentage based on the Combined Funds’ stakes and total shares outstanding as of June 30, 2024.
4. Source: CapIQ.

RECENT DEVELOPMENTS$4.50

Net quarterly revenues reach$7.1B, up 28% YoY6$20

Unrealized Fair Value2

Share Price Movement4

April 1, 2024 to June 30, 2024
$24

$4.0B

Unrealized Cost1+8%

Revenue rose 36% in 2023,
and market share increased
to ~75% in China8
Hong Kong re-listing timeline
reportedly under discussion9

$3.75
$3.50
Apr 24

5.
6.
7.
8.
9.

May 24

Jun 24

Quarterly FV Change is before tax & expenses, includes Unrealized and Realized gains and losses from Investments and related hedges, & dividend income received.
Source: Coupang 2024 First Quarter Earnings.
Source: The Korea Times: Coupang increases membership fees by 58%.
Source: Reuters: China's Didi swings to profit in fourth quarter.
Source: South China Morning Post: Chinese ride-hailing giant Didi Chuxing says it has no timetable for Hong Kong IPO.

The information herein is presented solely for SoftBank Vision Fund 1. These highlights are provided solely for illustrative purposes and individual investors' results may vary. Past performance is not necessarily indicative of future results. Unrealized Fair Value does not take into
account fees or expenses at the time of exit that would reduce the value of returns experienced by investors, and should not be construed as indicative of actual or future performance. Actual Realized amounts will depend on, among other factors, future operating results, the value ofthe assets and market conditions at the time of disposition, any related transaction costs and the timing and manner of sale, all of which may differ from the assumptions on which the valuations reported herein are based. Accordingly, the actual Realized returns on Investments thatare Unrealized may differ materially from the values indicated herein. The share price movement shown in the graph above is only for the quarter ending 30 June 2024 and does not reflect the performance of Vision Fund 1’s investment in the company.

SVF1

SVF2

PERFORMANCE UPDATEPORTFOLIO UPDATESPOTLIGHT

9S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG

Grab & AutoStore Update
As of June 30, 2024

$1.7B

$1.4B

Unrealized Cost1

Unrealized Fair Value2

10%

$2.8B

Ownership3

Share Price Movement4

Unrealized Fair Value2

38%

Ownership3

Share Price Movement4

April 1, 2024 to June 30, 2024

QUARTERLY FV CHANGE5

April 1, 2024 to June 30, 2024

$4.00+$172mm

NOK 24

NASDAQQUARTERLY FV CHANGE5OSE

NOK 22$3.75$(871mm)

NOK 20

+13%
$3.50

$3.25

$3.00
Apr 24$1.6B

Unrealized Cost1

May 24

Jun 24

RECENT DEVELOPMENTS

NOK 18

Revenues increased 24% YoY,
as of March 2024 Quarter6

NOK 16

Adjusted EBITDA reaches an alltime high in the March quarter,with full-year guidance revised
upward by more than 35%6

NOK 12

Footnotes:
1. Unrealized Cost is the unrealized acquisition cost from the Combined Funds’ Inception to June 30, 2024.
2. Unrealized Fair Value is the unrealized value of the Combined Funds’ stakes as of June 30, 2024.
3. Ownership % is the ownership percentage based on the Combined Funds’ stakes and total shares outstanding as of June 30, 2024.
4. Source: CapIQ.

RECENT DEVELOPMENTS

Revenue of $138mm, down 7.4%
YoY, with lower shipments oflarge high throughput projects7

NOK 14(37%)

NOK 10
NOK 8
Apr 24

5.
6.
7.
8.
9.

May 24

Invested in new US headquarters
and new factory in Thailand toenable future growth8

Jun 24

Quarterly FV Change is before tax & expenses, includes Unrealized and Realized gains and losses from Investments and related hedges, & dividend income received.
Source: Company Press Release: Grab Reports First Quarter 2024 Results.
Source: AutoStore Quarterly Earnings Q1 2024.
Source: Company Press Releases: AutoStore Opens New U.S. HQ in Boston; AutoStore Debuts New Modular Robot Factory to Support Global Market Expansion
Grab is an SVF1 investment. AutoStore is an SVF2 investment.

The information herein is presented solely for SoftBank Vision Fund 1 and SoftBank Vision Fund 2. These highlights are provided solely for illustrative purposes and individual investors' results may vary. Past performance is not necessarily indicative of future results. Unrealized Fair
Value does not take into account fees or expenses at the time of exit that would reduce the value of returns experienced by investors, and should not be construed as indicative of actual or future performance. Actual Realized amounts will depend on, among other factors, future
operating results, the value of the assets and market conditions at the time of disposition, any related transaction costs and the timing and manner of sale, all of which may differ from the assumptions on which the valuations reported herein are based. Accordingly, the actual Realized
returns on Investments that are Unrealized may differ materially from the values indicated herein. The share price movement shown in the graph above is only for the quarter ending 30 June 2024 and does not reflect the performance of the Fund’s investment in the company.

SVF1

SVF2

LATAM

PERFORMANCE UPDATEPORTFOLIO UPDATESPOTLIGHT

10S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG

Private Investments Overview
As of June 30, 2024

SVF1

# Current Investments1

384
Unrealized FV – Private2$56.7B

SVF2

LATAM

Unrealized
FV2$27.0B

Unrealized
FV2$25.0B

Unrealized
FV2

$4.7B

Quarterly FVChange4+$1.4B

Quarterly FVChange4$(1.5B)

Quarterly FVChange4$(0.1B)TOP PRIVATE INVESTMENTS BY FAIR VALUE 5% of Total Unrealized FV3

73%
Quarterly FV Change4$(0.2B)
Footnotes:
1. Current Investments include Investments in private portfolio companies made by the Combined Funds, and joint-ventures with existing portfolio companies
from Funds inception to June 30, 2024 that have not been fully Realized or publicly listed as of June 30, 2024.
2. “Unrealized FV” is the Unrealized value of the Combined Funds’ stake for private investments and related hedges as of June 30, 2024.
3. % of Total Unrealized FV is the sum of the current private portfolio companies’ and related hedges’ Unrealized FV divided by the Combined Funds’ total
Unrealized FV as of June 30, 2024.

4. Quarterly FV Change is before tax & expenses, includes Unrealized and Realized gains and losses from Investments and related hedges, & dividend
income received.
5. Top Private Investments by Fair Value is based on Unrealized FV of the top 10 private portfolio companies across the Combined Funds as of June 30, 2024,
excluding Undisclosed Investments.

The information herein is presented solely for SoftBank Vision Fund 1, SoftBank Vision Fund 2 and SoftBank LatAm Funds. These highlights are provided solely for illustrative purposes and individual investors' results may vary. Past performance is not necessarily indicative of
future results. Unrealized FV and FV do not take into account fees or expenses at the time of exit that would reduce the value of returns experienced by investors, and should not be construed as indicative of actual or future performance. Actual Realized amounts will depend on,among other factors, future operating results, the value of the assets and market conditions at the time of disposition, any related transaction costs and the timing and manner of sale, all of which may differ from the assumptions on which the valuations reported herein are based.
Accordingly, the actual Realized returns on Investments that are Unrealized may differ materially from the values indicated herein.

SVF1

SVF2

LATAM

PERFORMANCE UPDATEPORTFOLIO UPDATESPOTLIGHT

11

S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG

Key Drivers of Private Investment Performance
As of June 30, 2024

ByteDance Outperformance

Moderating Consumer Sentiment

FinTech Re-Rating

Revenue ($B) & Revenue Growth Rate (%)1,2,3

US Consumer Spending by Category4

FinTech Index vs. NASDAQ and S&P 5005

Select Social Media Companies

Intention % Change vs. Dec 2021

Jan 1 2024 to Jun 30 2024

30%
20%

50%

16%

10%

10%

117

80

76

85

2023

2022

2023

2022 2023

S&P 500(9.9%)+20.1%+15.1%

20%

-10%

10%

-20%

(29%)

-30%

0%
-10%

Jun 2022

2022

NASDAQ

30%

0%

135
120

Fintech Index

Non-discretionary

Jun 2023

Jun 2024

Discretionary

-20%
-30%
Jan-24Feb-24 Mar-24

Apr-24

Footnotes:
1. Source: ByteDance revenue per Statista. July 2024.
2. Source: Company Press Release: Meta Reports Fourth Quarter and Full Year 2023 Results; Initiates Quarterly Dividend.
3. Source: Company Press Release: Tencent Announces 2023 Annual And Fourth Quarter Results.
4. Source: Deloitte: State of the US consumer, June 2024. Spending intentions index values are represented by a three-month exponential moving average.
5. Source: F-Prime Fintech Index, June 2024.
The graphs presented herein were sourced from third parties that the Manager believes are reliable; however, the Manager has not independently verified the information presented. The information is provided for illustrative purposes only. There can be no assurance that
historical trends will continue throughout the life of the Combined Funds. The comparables provided herein were selected for illustrative purposes. Selection of such comparables is inherently subjective and others might select other comparables based on their assessment of
the market. Actual results may differ, perhaps materially from the estimates presented herein. Past performance is not necessarily indicative of future results.

May-24Jun-24

SVF1

SVF2

LATAM

PERFORMANCE UPDATEPORTFOLIO UPDATESPOTLIGHT

12S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG

Revenue Growth of Key Sub-Sectors

Top Three Largest Sub-Sectors by Fair Value | As of June 30, 2024
DIGITAL MEDIATOTALPAYMENTS

Unrealized Cost2

Unrealized FV3

Unrealized Cost2

Unrealized FV3

Unrealized Cost2

Unrealized FV3$5.1B$15.2B

$3.7B

$5.3B

$2.4B

$2.9B

Private Portfolio
Companies YoY
Revenue Growth

TOP THREE INVESTMENTS BY FAIR VALUE4

By Fair Value1

YOY REVENUE GROWTH BY SUB -SECTOR: PUBLIC COMPARABLES VS. PRIVATE PORTFOLIO COMPANIES 5

40%>25% Revenue Growth

56%

ECOMMERCE

20%
9%
Comps

26%
16%

6%
Portfolio Companies

Footnotes:
1. Source: SBIA Analysis. Based on portfolio company fair value. Includes latest available year-over-year quarterly Revenue data comparisons for private companies.
As of June 30, 2024.
5.
2. Unrealized Cost is the cumulative Unrealized acquisition cost from the Combined Funds’ Inception to June 30, 2024.
3. Unrealized FV is the Unrealized value of the Combined Funds’ stake for private investments and related hedges as of June 30, 2024.
4. Top Three Investments by Fair Value is based on Unrealized FV of the top three private portfolio companies in the respective sub-sector across the Combined Funds
as of June 30, 2024, excluding undisclosed investments. Vision Fund 1 investments include Bytedance, Fanatics, and VNLife. Vision Fund 2 investments include

Comps

Portfolio Companies

Comps

Portfolio Companies

bKash, Flipkart, Lenskart, LTK, PayPay, and Spotter.
Source: SBIA Analysis. “Portfolio Companies” include all Vision & LatAm Fund private investments in the specified sub-sector, with “YoY Revenue Growth” including
latest available year-over-year revenue data, weighted by portfolio company fair value. “Comps” represents the median revenue growth of all sub-sector publiccomparables, based on SBIA analysis. Certain comps may be repeated across multiple portfolio companies' comp lists. Digital Media Comps include 90+ companies
such as Meta Platforms, Alibaba, Pinterest, and Snap. E-Commerce Comps include 150+ companies such as Amazon, eBay, Etsy, and Nike. Payments Comps
include 70+ companies such as Adyen, Affirm, Block, and Shopify.

The information herein is presented solely for SoftBank Vision Fund 1, SoftBank Vision Fund 2 and SoftBank LatAm Funds. These highlights are provided solely for illustrative purposes and reflects the current beliefs of SBIA as of the date hereof. The metrics regarding selectaspects of the company’s operations were selected by SBIA on a subjective basis. Such metrics are provided solely for illustrative purposes to demonstrate elements of the company’s business, are incomplete, and are not necessarily indicative of the company’s performanceor overall operations. There can be no assurance that historical trends will continue throughout the life of Vision Fund 1, Vision Fund 2, or the LatAm Fund or the life of a portfolio company.

SVF1

SVF2

LATAM

PERFORMANCE UPDATEPORTFOLIO UPDATE

6%13<12 Months

9%12-24 Months
SOFTBANK VISION & LATAM FUNDS:INVESTOR BRIEFING

Portfolio Companies
Continue to be
Well-Capitalized
As of June 30, 2024

17%

>24 Months

Portfolio
Companies Cash
Runways
By Fair Value1

SPOTLIGHT

69%
FCF+ orSufficient toAchieve
Profitability2

94%

Portfolio
Companies with
12+ Months
Cash Runway

Footnotes:
1. Source: SBIA Analysis. Based on portfolio company fair value. Includes private portfolio companies only. Excludes portfolio companies where cash runway data is unavailable and investments in Funds. As of June 30, 2024. Total figures may differ from the sum of partsdue to rounding.
2. “FCF+ or Sufficient to Achieve Profitability” means companies are free cash flow positive as of June 30, 2024, or, based on SBIA analysis of available historical financial & operating performance and management & investment team projections, have sufficient cash on
balance sheet to attain positive free cash flow. In some instances where limited cash data was available, EBITDA projections were used as a proxy in determining if a portfolio company had sufficient cash to achieve profitability. 82% of the companies in this segment are
free cash flow positive.
The information herein is presented solely for SoftBank Vision Fund 1, SoftBank Vision Fund 2 and SoftBank LatAm Funds. These highlights are provided solely for illustrative purposes and reflects the current beliefs of SBIA as of the date hereof. The metrics regarding selectaspects of the company’s operations were selected by SBIA on a subjective basis. Such metrics are provided solely for illustrative purposes to demonstrate elements of the company’s business, are incomplete, and are not necessarily indicative of the company’s performanceor overall operations. There can be no assurance that historical trends will continue throughout the life of Vision Fund 1, Vision Fund 2, or the LatAm Fund or the life of a portfolio company. Cash runways of 12+ months do not guarantee future high performance of the portfolio
companies. Past performance is not necessarily indicative of future results.

SVF1

SVF2

LATAM

PERFORMANCE UPDATEPORTFOLIO UPDATESPOTLIGHT

14

S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG

A Strong Pipeline for Future Listings
As of June 30, 2024

51

ROBUST LATE-STAGE PIPELINE

Cumulative Public Listings
1
Since Inception

Value ofLate-Stage Portfolio3+1 LISTING IN THE JUNE QUARTER

SVF1

$35B

62%

SVF2

Exchange

HKEX

Listing Date

June 13Gross MOIC2

1.5x

SELECT COMPANIESSVF2Quantum physics-based, AIpowered, drug R&D company

Footnotes:
1. Listings since inception includes companies invested in on IPO/public listing date. WeWork and Full Truck Alliance are both SVF1 and SVF2 investments.
2. Gross MOIC (Gross Multiple of Invested Capital) is measured by dividing the Investment’s total fair value as of June 30, 2024, by the total acquisition cost of the Investment. It does not take into account taxes or Fund-related expenses at the time of exit that would reducethe value of returns experienced by investors and should not be construed as indicative of actual or future performance. Net performance for individual Investments cannot be calculated without making arbitrary assumptions about allocations of fees and expenses, and forthat reason is not included herein.
3. Source: SBIA Analysis. As of June 30, 2024. Includes portfolio companies that have raised Series E onwards or equivalent late-stage rounds. Selected companies include the largest private investments by Unrealized Fair Value that have raised as Series E or equivalentlate-stage round as of June 30, 2024, or are likely to publicly list in the near-term based on SBIA Analysis.
4. “% of Total Private Unrealized Fair Value” is the value of the late-stage portfolio as defined above, divided by the total private Unrealized Fair Value of the Combined Funds.
Select investments presented herein are solely for illustrative purposes, have been selected in order to provide examples of investments made by SoftBank Vision Fund 1, SoftBank Vision 2, and SoftBank LatAm Funds that have raised Series E or other equivalent late stage
rounds and do not purport to be a complete list of investments. References to investments included herein should not be construed as a recommendation of any particular investment or security. It should not be assumed that investments made in the future will be comparable
in quality or performance to the investments described herein. Please refer to visionfund.com/portfolio for a more complete list of SoftBank Vision Fund 1 and SoftBank Vision Fund 2 Investments. Please refer to latinamericafund.com/portfolio for a complete list of LatAm
Funds investments. It should not be assumed that “Late-Stage Portfolio” companies will go public soon or at any time in the future. Past performance is not indicative of future results.

OF TOTAL PRIVATEUNREALIZED FAIRVALUE4

LATAM

SVF2

PERFORMANCE UPDATEPORTFOLIO UPDATESPOTLIGHT

15

S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG

New Investing Activity Last 12 Months
Twelve-Month Period1 Ended June 30, 2024

SERIES E
SERIES CSERIES E
SERIES ASERIES D-1

SERIES E
SERIES E

Applying AI-powered
computer vision todigitize insurance
claims management

2023

Eliminating thecomplexity and risks
associated withenterprise networking
and security

Using AI to pioneer the
future of businesstravel for small andmidsized companies

Accelerating next
generation medicines,
shaping the future
treatment of obesity
and metabolic diseases

Securing everythingorganizations build
and run in the cloudPowering generative AI
search with LLMs,
providing conversational
and thoughtful responses
with reference citations
on the internet

2024

Footnotes:
1. Includes all new investments funded by SoftBank Vision Fund 2 or the SoftBank LatAm Fund during the twelve-month period ended June 30, 2024.
The information herein is presented solely for SoftBank Vision Fund 1, SoftBank Vision Fund 2 and SoftBank LatAm Funds. These highlights are provided solely for illustrative purposes and reflects the current beliefs of SBIA as of the date hereof. Select investments presented
herein are solely for illustrative purposes, have been selected to illustrate investing activity over the last 12 months. References to investments included herein should not be construed as a recommendation of any particular investment or security. It should not be assumed
that investments made in the future will be comparable in quality or performance to the investments described herein. Past performance is not indicative of future results.

Offering an AI-powered
market and industry
intelligence platform

SVF1

SVF2

LATAM

PERFORMANCE UPDATEPORTFOLIO UPDATESPOTLIGHT

16

S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG

GenAI Adoption is Growing Across the Portfolio
As of June 30, 2024

SELECT EXAMPLES OF GEN AI USE CASES 3

Rise of
GenAI
Adoption

Leveraging a GenAI assistantto handle almost 70% of
customer queries, driving$40mm profit improvement4

Launched an advanced scam
detection feature, resulting
in a 30% reduction in credit
card fraud losses5

Leveraging billions of hospitalityrelated data points from its cloudbusiness to create a better UX
for its customers6

Partnering withto enhance real-time driver
routing, customer support,
and user accessibility7

Using GenAI in customer
support operations, resulting
in a 20% improvement incustomer experience scoring8

Launched Doubao, a
ChatGPT-like offering thatis the #1 AI chatbot
in China9

69%
44%

~15%

Globally:
20231

Our
Portfolio:
20232

Our
Portfolio:
2025E2

Footnotes:
1. Source: Gartner Executive Leader Poll, Q4 2023.
2. Source: SoftBank CTO Survey 2023.
3. SoftBank Vision Fund 1 Companies Include Grab and Bytedance. Vision Fund 2 companies include Klarna, Revolut, Yanolja, and Meesho.
4. Source: Company Press Release: Klarna AI assistant handles two-thirds of customer service chats in its first month.

5.
6.
7.
8.
9.

Source: Retail Banker International: More financial services providers turn to Gen-AI for fraud prevention.
Source: SoftBank Insights: Seizing the generative AI moment.
Source: Company Press Release: Grab and OpenAI announce strategic collaboration, first of its kind in Southeast Asia.
Source: Microsoft: Managing peak demands with AI – Meesho.
Source: Tech in Asia: ByteDance’s ChatGPT-like bot now leading in China. May 2024.

The information herein is provided solely for illustrative purposes, reflects the current beliefs of SBIA as of the date hereof. Select investments presented herein are solely for illustrative purposes, have been selected in order to provide examples of the types of investments
made by SBIA and do not purport to be a complete list of Vision Fund 1, Vision Fund 2, or the LatAm Funds investments. References to investments included herein should not be construed as a recommendation of any particular investment or security. It should not beassumed that investments made in the future will be comparable in quality or performance to the investments described herein. Please refer to visionfund.com/portfolio for a more complete list of Vision Fund 1 and Vision Fund 2 investments, andlatinamericafund.com/portfolio for a complete list of LatAm Fund investments. Past performance is not necessarily indicative of future results.

PERFORMANCE UPDATEPORTFOLIO UPDATESPOTLIGHT

17

S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG

Operating as One SoftBank
RECENT SBG INVESTMENTS

Shared Vision
Common Artificial
Intelligence focus
Collective Expertise
Sharing knowledge andoperational capabilities
Global Ecosystem
Unparalleled portfolio of 480
Vision & LatAm Fund investments
Capital Flexibility
Ability to be both strategic
and financial investors

Pioneering Embodied AI bybuilding foundation models
for autonomous driving

Leveraging AI to accelerate
the discovery of novel
targets, predict treatment
effectiveness, and diagnosediseases earlier

The information herein regarding SoftBank Group Corp.’s investments is provided solely for informational purposes and does not purport to be a complete representation of all investments previously made by SoftBank Group Corp. Information about selected SoftBank Group
Corp. investments does not necessarily represent the characteristics of SoftBank Vision Fund 1, SoftBank Vision Fund 2 or the LatAm Funds' investments. Past performance is not necessarily indicative of future results. SBIA is a registered adviser and independent affiliate of
SoftBank Group and maintains separate procedures and operations from those of SoftBank Group Corp.

Improving efficiency,
resilience, andcomputational power
to unlock the fullpotential of AI

18

Appendix

SVF1

19

S O F T B A NK V I S I O N & L A T A M F U ND S : I NV E S T O R B RI E F I NG

SVF1 Distributions to Limited Partners
Since Inception to June 30, 2024

Total Distributions

(A)

(B)

(C)

(D)

(E) = (B)-(C)Fund
Commitment

Drawn
1
CapitalReturn of2
CapitalPref Coupon /4
Equity Gains

Outstanding
CapitalPreferred Equity$40.0B$36.2B$23.7B$8.7B$12.6B

Equity$58.6B$53.0B$16.5B$2.6B$36.5B

Total5$98.6B$89.2B$40.2B$11.3B$49.1B3$51.5B
Footnotes:
1. Drawn Capital includes Fund Commitment drawn down through capital calls and Return of Recallable Utilized Contributions that were retained and reinvested, less Return of Recallable Unutilized Contributions. Drawn Capital excludes any Drawdowns or Returns ofRecallable Contributions which fall due post June 30, 2024.
2. Return of Capital includes Return of Non-Recallable Contributions and Return of Recallable Utilized Contributions from financing distributions.
3. Pref Coupon includes distributions of Preferred Equity Coupon financed by Net Proceeds and capital calls.
4. Equity Gains includes Net Proceeds distributions to the Limited Partners, distributing amounts in excess of Returns of Capital and Preferred Equity Coupon distributions.
5. Total figures may differ from the sum of the parts due to rounding.
The information herein is presented solely for SoftBank Vision Fund 1. These highlights are provided solely for illustrative purposes and individual investors' results may vary. Past performance is not necessarily indicative of future results.

SVF1

20

SVF1

Inception to2024
Jun 30Fund Net Profit2$9.1

Contribution to
SBG, Net of 3rd
Party Interests1,3

Less: Change in 3rd Party
Interests in Fund

(4.6)

SBG LP Income:
Share of Fund Net Profit

4.5

Amounts in USD Billions

SBG GP Income:Management & Performance Fees3

1.2

SOFTBANK VISION & LATAM FUNDS:INVESTOR BRIEFING

Contribution to SBG,
Net of 3rd Party Interests1

Footnotes:
1. Contribution to SBG, Net of 3rd Party Interests reflects the income or loss from SBG’s Limited Partner interest and Manager’s Management and Performance Fee entitlement. Contributions to SBG and Fund Net Profit include the impact of SBG's interests in the Fund through the
Employee Incentive Scheme.
2. Fund Net Profit includes net changes in fair value of financial assets at fair value through profit or loss (FVTPL) which is based on valuations that reflect Unrealized estimated amounts, do not take into account fees or expenses that would reduce the value of returns experienced byinvestors, and should not be construed as indicative of actual or future performance. There can be no assurance that Unrealized Investments will be sold for values equal to or in excess of the total values used in calculating the information portrayed herein. Actual returns on
Unrealized Investments will depend on, among other factors, future operating results, the value of the assets and market conditions at the time of disposition, any related transaction costs and the timing and manner of sale, all of which may differ from the assumptions on which theinformation reported herein is based. Accordingly, the actual Realized returns on Investments that are Unrealized may differ materially from the values indicated herein.
3. Management Fees and Performance Fees earned by SBG through its subsidiary, SBIA UK reflect total Management Fees and Performance Fees earned by the Manager from Inception of the Fund through June 30, 2024.
Information herein is presented for illustrative purposes and relates solely to SBG’s interests in SoftBank Vision Fund 1. Past performance is not necessarily indicative of future results. Individual investors' results may vary.

$5.7

SVF1

21

SBG Paid-In Capital1
SOFTBANK VISION & LATAM FUNDS:INVESTOR BRIEFING

Contribution
to SBGAs of June 30, 2024

$27.7BSBG Total Value2$32.2BNet Asset Value3$22.5B

Distributions4$9.7B

Footnotes:
1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return of Recallable unutilized Contributions.
2. SBG Total Value reflects SBG’s Limited Partner interest in the Fund together with SBG's interest in the Fund through the Employee Incentive Scheme and the Manager’s Performance Fee entitlement.
3. Net Asset Value includes net changes in fair value of financial assets at fair value through profit or loss (FVTPL) which is based on valuations that reflect Unrealized estimated amounts, do not take into account fees or expenses that would reduce the value of returns experienced byinvestors, and should not be construed as indicative of actual or future performance. There can be no assurance that Unrealized Investments will be sold for values equal to or in excess of the total values used in calculating the information portrayed herein. Actual returns on
Unrealized Investments will depend on, among other factors, future operating results, the value of the assets and market conditions at the time of disposition, any related transaction costs and the timing and manner of sale, all of which may differ from the assumptions on which theinformation reported herein is based. Accordingly, the actual Realized returns on Investments that are Unrealized may differ materially from the values indicated herein.
4. Distributions include proceeds from Investment Realizations, Financing and Preferred Equity Coupon distributed to Limited Partner from Fund Inception to June 30, 2024. It includes the Return of Recallable Utilized Contributions and the Return of Non-Recallable Utilized
Contributions but does not include the Return of Recallable Unutilized Contributions.
Information herein is presented for illustrative purposes and relates solely to SBG’s interests in SoftBank Vision Fund 1. Past performance is not necessarily indicative of future results. Individual investors' results may vary.

SVF2

22

SBG Paid-In Capital1
SOFTBANK VISION & LATAM FUNDS:INVESTOR BRIEFING

Contribution
to SBGAs of June 30, 2024

$56.0BSBG Total Value2$33.0BNet Asset Value3$24.0B

Distributions4$9.0B

Footnotes:
1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return of Recallable unutilized Contributions. SBG Paid-In Capital is net of the capital contributions receivable from MgmtCo as part of the Co-investment program of SoftBank Vision Fund 2.
2. SBG Total Value reflects SBG’s Limited Partner interest in the Fund.
3. Net Asset Value includes net changes in fair value of financial assets at fair value through profit or loss (FVTPL) which is based on valuations that reflect Unrealized estimated amounts, do not take into account fees or expenses that would reduce the value of returns experienced byinvestors, and should not be construed as indicative of actual or future performance. There can be no assurance that Unrealized Investments will be sold for values equal to or in excess of the total values used in calculating the information portrayed herein. Actual returns on
Unrealized Investments will depend on, among other factors, future operating results, the value of the assets and market conditions at the time of disposition, any related transaction costs and the timing and manner of sale, all of which may differ from the assumptions on which theinformation reported herein is based. Accordingly, the actual Realized returns on Investments that are Unrealized may differ materially from the values indicated herein.
4. Distributions include proceeds from Investment Realization and Financing distributed to Limited Partner from Fund Inception to June 30, 2024. It includes the Return of Recallable Utilized Contributions and the Return of Non-Recallable Utilized Contributions but does not include
the Return of Recallable Unutilized Contributions.
Information herein is presented for illustrative purposes and relates solely to SBG’s interests in SoftBank Vision Fund 2. Past performance is not necessarily indicative of future results. Individual investors' results may vary.

LATAM

23

SBG Paid-In Capital1
SOFTBANK VISION & LATAM FUNDS:INVESTOR BRIEFING

Contribution
to SBGAs of June 30, 2024

$7.1B
SBG Total Value2$6.1B

Net Asset Value3$5.7B

Distributions4$0.4B

Footnotes:
1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return of Recallable unutilized Contributions. SBG Paid-In Capital is net of the capital contributions receivable from MgmtCo as part of the Co-investment program of SoftBank LatAm Funds.
2. SBG Total Value reflects SBG’s Limited Partner interest in the Fund and the Manager’s Performance Fee entitlement.
3. Net Asset Value includes net changes in fair value of financial assets at fair value through profit or loss (FVTPL) which is based on valuations that reflect Unrealized estimated amounts, do not take into account fees or expenses that would reduce the value of returns experienced byinvestors, and should not be construed as indicative of actual or future performance. There can be no assurance that Unrealized Investments will be sold for values equal to or in excess of the total values used in calculating the information portrayed herein. Actual returns on
Unrealized Investments will depend on, among other factors, future operating results, the value of the assets and market conditions at the time of disposition, any related transaction costs and the timing and manner of sale, all of which may differ from the assumptions on which theinformation reported herein is based. Accordingly, the actual Realized returns on Investments that are Unrealized may differ materially from the values indicated herein.
4. Distributions include proceeds from Investment Realization and Financing distributed to Limited Partner from Fund Inception to June 30, 2024. It includes the Return of Recallable Utilized Contributions and the Return of Non-Recallable Utilized Contributions but does not include
the Return of Recallable Unutilized Contributions.
Information herein is presented for illustrative purposes and relates solely to SBG’s interests in SoftBank LatAm Funds. Past performance is not necessarily indicative of future results. Individual investors' results may vary.

24

Thank YouSoftBank Vision & LatAm Funds Investor Briefing Presentations Available at visionfund.com/presentations

Arm Holdings plc
SoftBank Investor Briefing

August 2024
© 2024 Arm

AI-generated image

Ian Thornton
Vice President, Investor Relations

Nomenclature difference between Arm and SoftBank Group

Fiscal year ending March 31, 2025

FY20242© 2024 Arm

Fiscal year ending March 31, 2025

FYE25

FYE25-Q1: From Revenues to Profits
48%

97%

Non-GAAP
Operating Margin

Non-GAAP
Gross Margin
$939m

$24m

$915m

License
Revenue
$472m

$467m

$448m

Non-GAAP
OperatingExpense

Non-GAAP
OperatingMargin$419m

Royalty
Revenue$467m

Revenue3© 2024 Arm

Non-GAAP
COGS

Non-GAAP
Gross Profit

Non-GAAPNet Income

Notes:
1. Depreciation and amortisation for FYE25-Q1 was $43m
2. Non-GAAP Operating Income and Non-GAAP Net Income are non-GAAP metrics. See end of presentation for reconciliation of each to the most directlycomparable GAAP metricSemiconductor industry recovered after inventory correction
Semiconductor industry has recovered from the 2022 inventory correction, now seeing normal seasonality

Industry demand driven by AI and consumer. Automotive and industrial electronics seeing some weakness.

Y/Y Growth
25.0

40%

Revenue
28%

24%

20.0

11%
6%

9%

11%
9%
5%

8%
8%

8%
5%
0%
-4%

10.0

19%

17%
14% 13%

15%
15.0

28%

-6%
-9%

-6%

-3%
-7%

-10%

1%
-1%

4%

7%

15%
12%
10%

9%
8%

4%

28% 28%
26%

17%

24%
20%

25% 26%

22%

22%

24%

16%

26%

7%

3%

17%

15%
15%
13%
7%
3%

-3%

21%
18%
20%
15%
15%

9%

10%

-2%
-5%

-11%

-9%

30%

2%

0%
-3%

3%

25%

-15%

5.0

0%

-10%

-14%
-18%

-16%

-20%

0.0

Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May

-17%

2018
2018

4

© 2024 Arm

2019
2019

2020
2020

2021
2021

Sources: Semiconductor sales - WSTS, July 2024; Handset sales – Counterpoint, July 2024

2022
2022

20232023

2024
2024

-30%

Industry Revenue Growth Y/Y [%]Monthly Semiconductor Industry Revenue [$bn]Q1 smartphone sales up 2.9% year on year
Arm Addressable Semiconductor Market

Armv9 adoption driving royalty growthRoyalty Revenue by Architecture
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%

FYE16

FYE17

FYE18

FYE19

FYE20
Armv7 & older

FYE21
Armv8

FYE22

FYE23

FYE24

Q1 FYE25

Armv9

Armv9 commands a higher royalty per chip than prior architectures
Armv9 adoption started in smartphones and cloud compute, now growing in automotive, consumer and IoT
5© 2024 Arm

Diversification in multiple long-term growth markets
Royalties by End Market - FYE24

Royalties by End Market - FYE16

IoT / Embedded 20%

Other

Automotive 8%
MobileSmartphone
AP 40%

Cloud Compute andnetworking 10%

Other mobile 7%
Consumer electronics 15%

Arm is increasing revenue from markets beyond mobile through a broadening range of products including CPUs andsystems for cloud, automotive and IoT/embedded compute6© 2024 Arm

Note: reference to FYE16 relates to period when Arm was last publicly listed prior to its acquisition by SoftBank.
Note: royalties represent approximate mix, based on reports received from our partners and Arm’s internal assessment of end market

Gaining Share in a Massive Market

ClientMarket Share1
FYE22 to FYE24
MOBILEAPPLICATIONS

>99%

>99%

$30bn

$33bn

OTHER
MOBILE

64%

67%

$16bn

$16bn

24%

30%

$65bn

$50bn

9%

15%

$16bn

$21bn

23%

28%

$15bn

$16bn

12%

16%

$12bn

$13bn

36%

41%

$15bn

$22bn

54%

54%

$45bn

$43bn

43%

47%

$214bn$214bn

CONSUMER
ELECTRONICS

Infrastructure

CLOUD
COMPUTENETWORKINGEQUIPMENT

Auto

OTHER
INFRASTRUCTURE
AUTOMOTIVE

IoT

IoT & EMBEDDEDTOTALOPPORTUNITY
1 Based on chip value

7

Market Value1
FYE22 to FYE24© 2024 Arm

Near-Term Guidance

Revenue ($m)

Non-GAAP Operating Expense ($m)1

Non-GAAP fully diluted earnings per share ($)1Q2 FYE 25

FYE 25$780m - $830m$3.80b - $4.10b~$500m~$2.05b$0.23 - $0.27$1.45 - $1.65(1) For more information and definitions of the non-GAAP measures see the “Key Financial and Operating Metrics” section of our most recent Shareholder Letter, available at https://investors.arm.com/. A reconciliation ofeach of the projected non-GAAP operating expense and non-GAAP fully diluted earnings per share, which are forward-looking non-GAAP financial measures, to the most directly comparable GAAP financial measure, is notprovided because Arm is unable to provide such reconciliation without unreasonable effort. The inability to provide each reconciliation is due to the unpredictability of the amounts and timing of events affecting the items
we exclude from the non-GAAP measure.

8© 2024 Arm

To bereplaced

9© 2024 Arm