Presentation Materials

for FY2022 Q3
Sansan, Inc., April 13, 2023

Disclaimer

In preparing these materials, Sansan, Inc. (“the Company”) relies upon and assumes the accuracy and completeness of all available information. However, theCompany makes no representations or warranties of any kind, expresses or implies, about the completeness and accuracy. This presentation may containfuture assumptions, prospects and forecasts based on planning, but these forward-looking statements are based on the information that is currently available
to us, and on certain assumptions that we assume to be reasonable, but the Company does not promise to achieve these. Major differences may occur
between the forecast and the actual performance, including changes in economic conditions, consumer needs and user preferences; competition with othercompanies; changes in laws, regulations and others; and a number of other future factors. Therefore, the actual performance announced may vary dependingon these various factors. In addition, the Company has no obligation to revise or publish the future prospects posted on this site.

© Sansan, Inc.

1

Contents

1 Consolidated Financial Results for FY2022 Q3
2 Deployment of Sansan, the Sales DX Solution
3 Full-Year Forecasts
Appendix(Sansan Group Overview, Sansan/Bill One Business, Eight Business, Initiatives for Sustainability)© Sansan, Inc.

2

Contents

1 Consolidated Financial Results for FY2022 Q3
2 Deployment of Sansan, the Sales DX Solution
3 Full-Year Forecasts© Sansan, Inc.

3

1 Consolidated Financial Results for FY2022 Q3Highlights of FY2022 Q3YTD Results
Solid progress in consolidated net sales
Consolidated net sales up 23.6% YoY
ARR (1) up 24.0%, to ¥23,314 million

Adjusted consolidated operating profit (2) significantly increased YoY
Even while implementing growth investments such as enhanced personnel hiring, adjusted consolidated operating
profit up 148.4% YoY to ¥760 million owing to net sales growth, etc.

Quarterly net increase in MRR (3) for Bill One, the cloud-based invoice management
solution, hit record highBill One net sales up 209.5% YoY, to ¥1,543 million
Bill One MRR for February 2023 increased 153.0% YoY to ¥229 million, up ¥52 million from end of Q2(1) Annual recurring revenue(2) Operating profit + share-based payment expenses + expenses arising from business combinations (amortization of goodwill and amortization of intangible assets)(3) Monthly recurring revenue© Sansan, Inc.

4

1 Consolidated Financial Results for FY2022 Q3

Overview of Consolidated Financial Results
Net sales up 23.9% YoY, accelerating growth rate by 1.2 points vs. Q2.
Profit at each stage increased significantly owing to net sales growth, etc.

FY2021

FY2022Q3 Results

Q3 Results(For Reference) FY2022
YoY(millions of yen)

Q3YTD
Results

YoY

Consolidated Results

Net Sales

5,128

6,353

+23.9%

18,177+23.6%

Gross Profit

4,527

5,546

+22.5%

15,746+21.4%

Gross Profit Margin

88.3%

87.3%

-1.0 pt.

86.6%-1.6 pt.

Adjusted Operating Profit

395

694

+75.7%

760+148.4%

Adjusted Operating Profit Margin

7.7%

10.9%

+3.2 pt.

4.2%+2.1 pt.

Ordinary Profit

107

615

+472.9%501-33.2%

1

587 +38,608.3%

738+28.4%¥0.01¥4.70 +38,710.8%¥5.91+28.1%

Profit Attributable to Parent’s
OwnersEPS (1)(1) As the Company conducted a four-for-one common stock split effective December 1, 2021, EPS was calculated on the assumption that the stock split was conducted at the beginning of FY2021.
© Sansan, Inc.

5

1 Consolidated Financial Results for FY2022 Q3

Factors Contributing to Changes in Adjusted Consolidated Operating Profit
Personnel expenses up ¥404 million (23.8%) YoY because of stronger personnel recruiting.
Advertising expenses were down ¥142 million (-23.3%) YoY.

Status of Consolidated Net Sales/Adjusted Operating Profit(millions of yen)

FY2022 Q3 Results

FY2021 Q3 Results
Net Sales
Cost of Sales
Personnel Expenses

5,128

6,353

+1,225

600

807

+206

1,696

Advertising Expenses

2,100

613
1,822

Other SG&A Expenses

YoY

+404

470

-142

2,279

+457

Adjusted Operating Profit

395

694

+299

For Reference

20

78

+58

6

6

ー

368

609

+241

© Sansan, Inc.

Share-Based Payment Expenses
Expenses Arisingfrom Business Combinations(amortization of goodwill
and amortization of intangible assets)

Operating Profit

6

1 Consolidated Financial Results for FY2022 Q3

Results by Segment
Increased net sales and adjusted operating profit (reduced deficit) in both Sansan/Bill One and Eight Businesses.
Adjustment amount (adjusted operating profit) down because of increased back-office headcount, etc.

FY2021

FY2022Q3 Results

Q3 Results(For Reference) FY2022
Q3YTD
Results

YoY(millions of yen)

5,128

6,353

+23.9%

18,177+23.6%

4,650

5,715

+22.9%

16,232+23.0%

454

613+34.9%

1,848+29.2%

Others25

44+71.6%

145+81.0%

Adjustments

-3

-19

ー

-48

ー

Consolidated

395

694

+75.7%

760+148.4%

1,670

2,232

+33.7%

5,197+28.3%

Eight Business

-96

-57

ー

-206

ー

Others

-16

-17

ー

-28

ー

-1,161-1,463ー-4,202ーConsolidated

Net Sales
Adjusted Operating
Profit© Sansan, Inc.

YoY

Sansan/Bill One Business
Eight Business

Sansan/Bill One Business

Adjustments

7

1 Consolidated Financial Results for FY2022 Q3

Sansan/Bill One Business Overview
Net sales increased by 22.9% YoY, accelerating growth rate by 0.5 points vs. Q2.
Adjusted operating profit up 33.7% YoY owing to net sales growth, etc.

FY2021

FY2022Q3 Results

Q3 Results(For Reference) FY2022
YoY(millions of yen)

4,650

5,715

+22.9%

16,232+23.0%

Sansan

4,366

5,015

+14.9%

14,548+14.9%

4,136

4,741

+14.6%

13,781+14.3%

230

273+18.7%

766+27.7%

Bill One

259

645+148.3%

1,543+209.5%

Others24

54+123.8%140+265.9%

1,670

2,232

+33.7%

5,197+28.3%

35.9%

39.1%

+3.2 pt.

32.0%+1.3 pt.

Sansan Other Sales

Adjusted Operating Profit
Adjusted Operating
Profit Margin© Sansan, Inc.

YoY

Net Sales

Sansan Recurring Sales
Sansan/Bill One
Business

Q3YTD
Results

8

1 Consolidated Financial Results for FY2022 Q3

Sansan/Bill One Business:

Sales, Subscriptions and Monthly Recurring Sales per Subscriptions,
Last 12 Months Average of Monthly Churn Rate

SansanAlthough subscription growth rate remained flat vs. Q2, monthly recurring sales per subscription accelerated owing tostrengthening of sales to medium and large enterprises.
Churn rate decreased by 0.19 points YoY to 0.46%, continuing the improvement.
Sansan Subscriptions andMonthly Recurring Sales per Subscription

Sansan Sales「Sansan」その他
Sansan Other Sales「Sansan」ストック
Sansan Recurring Sales「Sansan」ストック売上高比率
Ratio of Sansan Recurring Sales(millions of yen)

95.3% 95.1% 94.9% 95.2% 95.8% 95.3% 94.7%

94.2% 94.7%

Number of Sansan Subscriptions
Monthly Recurring Sales per Subscription(subscriptions)

8,844

95.0% 94.5%¥9,000¥9,000

4,366

3,893

4,227
4,068
230
200
169

4,551
264

4,701
250

Last 12 Months Average of Monthly
Churn Rate for Sansan (1)

4,831
242

5,015
273

¥8,000¥8,0006,969

7,230 7,523

7,744

7,992

8,186 8,314

8,488 8,644 8,722¥180,000¥7,000¥7,000

4,741
3,733
3,535
185
3,357
191
4,451 4,588
172
4,136 4,286
157
4,026
3,899
3,708
3,541
3,199 3,362

0.67%
0.65%

¥167,000¥6,000¥6,000¥5,000¥5,000¥159,000

Subscriptions Up

Monthly
Recurring Sales per
subscription Up

6.4% YoY

7.8% YoY¥4,000¥4,000Recurring Sales Up¥3,000¥3,00014.6% YoY

¥2,000¥2,0000.46%¥1,000¥1,000

¥0
¥0

Q1

Q2

Q3

FY2020

Q4

Q1

Q2

Q3

FY2021

Q4

Q1

Q2

Q3

FY2022End- End- End- End- End- End- End- End- End- End- EndQ1末Q1 Q2末Q2 Q3末Q3 Q4末Q4 Q1末Q1 Q2末Q2 Q3末Q3 Q4末Q4 Q1末Q1 Q2末Q2 Q3末Q3

FY2020

FY2021

FY2022

FY2020Q3

FY2021Q3

FY2022Q3(1) Ratio of decreased monthly fees associated with contract cancellations to total monthly fees for existing contracts© Sansan, Inc.

9

1 Consolidated Financial Results for FY2022 Q3

MRR, Paid Subscriptions and Monthly Recurring Sales per Paid Subscription,
Last 12 Months Average of Monthly Churn Rate

Sansan/Bill One Business: Bill One

MRR up 153.0% YoY, and ARR exceeded ¥2,748 million as of February 2023.
Net increase in paid subscriptions and growth rate of monthly recurring sales per paid subscription continued high growth
owing to new customer acquisition among medium and large enterprises.
Number of Bill One Paid Subscriptions andMonthly Recurring Sales per Paid Subscription

Bill One MRR(millions of yen)

229

ARR
As of Feb. 2023

MRR
Up

177

¥2,748 million 153.0% YoY

Paid Subscription
Monthly Resurring Sales per Paid Subscription(subscriptions)

1,300
Paid
Subscriptions Up

Monthly
Recurring Sales per
Paid Subscription Up

102.2% YoY

25.7% YoY

140

8

0.59%

455
¥91,000

0.49%

280

0.50%
0.45%

188

32
6

Aug. Nov. Feb. May Aug. Nov. Feb. May Aug. Nov. Feb.

FY2020¥176,000

643

58

4

930

¥140,000

90

0

(1)

1,084

776

116

19

Last 12 Months Average of Monthly
Churn Rate for Bill One (2)FY2021

FY202253

96

End- End- End- End- End- End- End- End- End- End- EndQ1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

FY2020

FY2021

FY2022

FY2021Q4

FY2022Q1

FY2022Q2

FY2022Q3(1) Paid subscriptions as of end of FY2022 Q2 revised from 1,138 to 1,084 (reflecting revision to paid subscriptions, monthly recurring sales per paid subscription were ¥163,000)(2) Ratio of decreased monthly fees associated with contract cancellations to total monthly fees for existing contracts.
© Sansan, Inc.

10

1 Consolidated Financial Results for FY2022 Q3

Sansan/Bill One Business: Bill One Size of Potential Market in Japan and ARR
Since all companies are targeted, regardless of industry or size, vast room for development exists in Japan.
Aiming for ARR of ¥3 billion or more by the end of FY2022.

Size of Potential Market for Bill One (1)Bill One ARR(millions of yen)Companies in Japan(1)~2 million

May 2023
ARR Aim for¥3.0 billion+
1,392
Companies in Bill One invoice network (2)73,000~Bill One paid subscriptions

1,300

237
FY2020End-Q4FY2021End-Q4FY2022End-Q4(1) Based on Economic Census for Business Activity in 2016 issued by the Statistics Bureau(2) Paid subscriptions + free subscriptions + companies that send invoices to paid and free subscriptions© Sansan, Inc.

11

1 Consolidated Financial Results for FY2022 Q3

Eight Business Overview
Although Q3 net sales increased by 34.9% YoY, cumulative results were below the lower range of the performance forecast

growth rate.
Reduced deficit in adjusted operating profit by ¥39 million YoY.
FY2021

FY2022Q3 Results

Q3 Results(For Reference) FY2022
Q3YTD
Results

YoY(millions of yen)

454

613

+34.9%

1,848+29.2%

B2C Services

71

78+10.2%

225+5.5%

B2B Services

383

534

+39.4%

1,623+33.4%

Adjusted Operating Profit

-96

-57

ー

-206

ー

Eight Users (1)

3.05

3.24

+0.19

millionmillionmillion

2,621

3,398

+29.6%Net Sales

Eight
Business

YoY

Eight Team Subscriptions(1) Confirmed users who registered their business card in their profile after downloading the app.
© Sansan, Inc.

12

1 Consolidated Financial Results for FY2022 Q3

Eight Business: Net Sales, Adjusted Operating Profit
Q3 net sales and adjusted operating profit down vs. Q2 as large-scale business events for FY2022 held in Q2 and Q4.
Shift to profitability-focused business operations from Q4 onward.

Net Sales(millions of yen)

Adjusted Operating Profit(millions of yen)

B2C services783

B2B services

702

613
552
488
424

533
454

424

710

360
309

350
234

287

480

460

383

352

628

-14

534

-57
-101

-96
-135

-162 -178
-176
-193
-198

74

73

73

74

71

71

71

72

72

74

78

Q1
Q1

Q2
Q2

Q3
Q3

Q4
Q4

Q1
Q1

Q2
Q2

Q3
Q3

Q4
Q4

Q1
Q1

Q2
Q2

Q3
Q3

FY2020© Sansan, Inc.

413

19

FY2021

FY2022Q1Q2Q3FY2020

Q4

Q1

Q2

Q3

FY2021

Q4

Q1

Q2

Q3

FY202213

Contents

1 Consolidated Financial Results for FY2022 Q3

2 Deployment of Sansan, the Sales DX Solution
3 Full-Year Forecasts© Sansan, Inc.

14

2 Deployment of Sansan, the Sales DX Solution

Sansan Net Sales
Since service launched in 2007, it has continually evolved and grown to have the largest SaaS net sales in Japan.
We remodeled it from a business card-based contact management service to the sales DX solution in 2022.

Sansan Net Sales (1)(millions of yen)

17,214ARR Feb. 2023

¥19,209
million

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2007:

2013:

2022:

Launched Link Knowledge (now Sansan)

Became Sansan, B2B business card-based contact management service

Product remodel to Sansan, sales DX solution(1) Indicates net sales for fiscal years ended in May – figures prior to the year ended May 2016 are non-consolidated, while subsequent figures are consolidated.
© Sansan, Inc.

15

2 Deployment of Sansan, the Sales DX Solution

Product Remodel to Sales DX Solution
Building databases unique to user companies by combining 1 million+ items of company information and various customer
contact information.
Enhancing sales abilities for individuals and organizations by realizing strategic sales activities through data utilization.

Company information

Database topower sales

Enhanced Functions© Sansan, Inc.

Contact information
Enhanced Functions

Company
information

Executives
information

Personnel change
information

Business
cards

EmailsWebsiteinquires

Companynews

Risk
Information

Installed IT
Services

Virtual cards

Phone calls

Seminars16

2 Deployment of Sansan, the Sales DX Solution

Equipped with Corporate Information
Contains information on companies in the largest number of data categories in Japan.
Users can conduct diversified customer analyses, as data can be viewed and used in Sansan.
Data Category

Recorded Data
Basic corporate data for 1 million companies

Company information(names/profiles, head office addresses, telephone numbers, URLs, numbers of employees, representative names, industries, corporate status/numbers,
establishment dates, capital, sales, accounting periods, affiliated group information)

Financial and performance
information

Non-consolidated/consolidated total assets, capital, shareholders' equity, net sales, operating/ordinary/net income for most recent/up to two
previous years

Organizational Information

Organizational charts with structured department/job position layers, based on business cards collected by employees of Sansan user companies

Executives
information

Information on executives (names, titles, affiliations, assigned offices/addresses, information on honors/awards conferred)

Personnel change andorganizational update
Information

Latest personnel change/organizational update information, such as announcement dates, company names, first/last names, new/former
affiliations/positions

Company News

Company customer/competitor news collected from websites

Antisocial force check dataclassifications, organization names, etc.)

Installed IT services

Data on corporate-use IT service categories/names (~1,600 detectable)

Company trends(under development)

Visual-format data on latest situation at a company (companies can be extracted with tags relating to ~200 types of management/employment situations andBase information(under development)© Sansan, Inc.

Data on areas such as corporate antisocial forces, premises crime, economic sanctions lists, personal antisocial data (names, ages, anti-social

focus areas)

Business operator information such as branches/sales offices operated by a company

17

2 Deployment of Sansan, the Sales DX Solution

System for Providing Vast Amount of Corporate Information
Build an integrated engine for which unique information collection channels, digitization technologies, etc. have been applied
In addition to accurately updating a vast amount of data, we add value through data enrichment.

Collection

Integration

Enrichment

Unique collection channels targeting
both public and private data

Advanced structuring technology
based on our digitization
technology expertiseHigh added value throughdata enrichment

Company research
Original company research datingback many years

Company assessment engine (1)Master data
Company codes (2)Company
assessment

Alliances
Partnerships with other data providers,
including Teikoku Databank

Operator utilization

Data maintenance throughhuman efforts- A unique company code is assigned by a company
assessment engine based on digitization technology
know-how/logic

Integrated engines

Operators digitize public data

- Combination of AI and operator operation achieves
industry’s highest level of name identification accuracy(1) With our unique digitization process, common input error patterns, company name and address transcription variations,etc. are constructed as clues (a company assessment engine) by which to assess the same company and used for company name-matching assessment decisions.
(2) Sansan’s unique company codes.
© Sansan, Inc.

18

2 Deployment of Sansan, the Sales DX Solution

Upcoming Function Enhancements
In the next fiscal year, to strengthen contact point information, we plan to add a contact point management function on
Sansan for accumulating and visualizing contact point information via emails and transactions, while also enabling a list ofvarious contact points with each company and person.
Number of Contacted People on Organization Tree (1)Contact Point Summery in Company Overview (1)Overview

Contact points■■ Emails ■■(1) Under development© Sansan, Inc.

19

Contents

1 Consolidated Financial Results for FY2022 Q3
2 Deployment of Sansan, the Sales DX Solution

3 Full-Year Forecasts© Sansan, Inc.

20

3 Full-Year Forecasts

Consolidated Financial Forecasts for FY2022
Results for Q3 results progressing smoothly, no change in consolidated earnings forecasts.
In Q4, planning to make various investments for medium-term growth in net sales.

FY2021(millions of yen)

FY2022Full-Year
Results

Q3YTD
Results

YoY

Full-Year
Forecasts (1)YoY

Consolidated Forecasts

Sales

20,42018,177+23.6%

25,117~25,764+23.0%~+26.2%

Sansan/Bill One Business

18,105

16,232+23.0%

21,998~22,632+21.5%~+25.0%

2,213

1,848

+29.2%

2,900~3,010+31.0%~+36.0%Adjusted Operating Profit

730

760

+148.4%917~1,288+25.5%~+76.3%Adjusted Operating
Profit Margin

3.6%

4.2%

+2.1 pt.

3.7%
~5.0%

+0.1 pt.
~+1.4 pt.

Eight Business(1) We do not disclose specific forecast figures for operating profit (loss) and below as it is difficult to make a reasonable estimate of expenses related to stock-based compensation,
which may vary significantly depending on the level of our stock price, and certain non-operating profit (loss) and other items.
© Sansan, Inc.

21

3 Full-Year Forecasts

Medium-Term Financial Targets (FY2022–FY2024)
Aiming for solid growth in net sales and stable profit growth

Important management indicators

Consolidated net sales

Continue solid growth in the 20%+ range or higher

Adjusted consolidated
operating profit

Improvement of profit margin in each fiscal year
Sansan/Bill One Business

Eight Business

Recording adjusted operating profit of ¥10 billion+
for Sansan and Bill One in FY2024

Recording stable adjusted operating
profit for full year

(excluding Others, such as new services in Sansan/Bill One
Business segment)© Sansan, Inc.

22

Appendix© Sansan, Inc.

Sansan Group Overview© Sansan, Inc.

Sansan Group Overview

Mission and Vision

MissionTurning encounters
into innovation

VisionBecome business
infrastructure© Sansan, Inc.

25

Sansan Group Overview

History (1)2019−present

Diversifying Business
Fields and Services
2013−2018

2007−2012

Founding andLaunch of Business2007
SAN SAN, Inc. (now Sansan, Inc.) founded
Began offering Link Knowledge services(now Sansan, the sales DX solution)

FY2021
Consolidated Net Sales¥20,420 million

2019

Strengthening
Investments
Through Large-Scale
Fundraising

Listed on the Mothers Section of Tokyo Stock Exchange

2020
Began offering Bill One cloud-based invoice management solution
logmi, Inc. became a subsidiary2021
Changed listing market to First Section of Tokyo Stock Exchange

2013−2018
Raised a total of more than
¥10 billion in funding

2022

2013

Began offering Contract One cloud-based contract
management solution
Changed from First Section to Prime Market of Tokyo Stock
Exchange.

Started broadcasting first Sansan
TV commercial

2014

2012

Changed legal name to Sansan, Inc.

Launched Eight contact and career
management app

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

(1) The graph indicates net sales for fiscal years ended in May (figures prior to the year ended May 2016 are non-consolidated, while subsequent figures are consolidated).
© Sansan, Inc.

26

Sansan Group Overview

Digitally Transform How You Work
Offering a business database that reshapes how people work and connects encounters with people and companies tobusiness opportunities.
Developing services in business flows in various fields.
Digital Transformation (DX) for B2B

DX for B2C

Sales DX

Contract DX

Accounting DX

Career DX

Sales

Contract

RequestCareermanagement

Work styles that will change with use of business databases© Sansan, Inc.

Users can
immediately findInformation is easy to
manage and can beinformation they needshared immediately

Easy to analyze and utilize
information and makedecisions based on data27

Sansan Group Overview

Overview of Reporting Segments
Comprises two reporting segments, the Sansan/Bill One Business and Eight Business. (1)Sansan/Bill One Business

Eight Business

The sales DX solution
Contact and career
management app

SansanB2C Services- Eight Premium

Cloud-based
invoice management solution

Bill One
Contact and career
management app

The contract DX solution

OthersMedia that transcribes
all documents (2)B2B Services- Eight Team- Eight Marketing Solutions- Meets- Climbers- DX Camp- Business IT & SaaS EXPO
- Eight Career Design(1) The few other services not included in reportable segments are recorded in “Others,” while elimination of intra-company transactions (sales), and costs not allocated to segments are recorded in “Adjustments.”(2) Services provided by logmi, Inc., a consolidated subsidiary© Sansan, Inc.

28

Sansan Group Overview

Operation and Technologies for Digitizing Analog Information
Establishment of analog information digitization operation structure unsurpassed by competitors.

Prompt, accurate digitization of large volume of business card information

Scan large volumes ofanalog information

AI:
Data entry

Humans:Manual entry

Humans: Final check

Database

Automatic and manual data entry of
analog information images
Cycle repeated since company began

Combination of Technologies
Automatic detection andmicro-tasking of
analog information© Sansan, Inc.

Automatic detection of
language

Automatic sorting tooperators

Diverse network ofdata entry operators

Image processing
technology

29

Sansan Group Overview

Tailwind of Market Environment
Digital transformation is boosting the need for cloud-based solutions

Domestic Private IT Market Size (1)(billions of yen)

Digital Transformation Market Size (2)(billions of yen)

SaaS Market Size in Japan (3)(billions of yen)＋¥579

13,550＋¥1,050＋¥3,813.6

billionbillionbillion

1,668.1

5,195.7

14,6001,089.1

1,382.1

2021
'05/5

2024E
'05/5

2020
'05/5

2030E
'05/5

2022E
'05/5

2026E
'05/5

(1) Based on 2022 IT Investment by Japanese Companies: Facts and Forecasts, Yano Research Institute Ltd.
(2) Based on Market Edition and Vendor Strategy Edition of 2022 Outlook of the Digital Transformation Market by Fuji Chimera Research Institute.
(3) Based on 2022 New Software Business Markets by Fuji Chimera Research Institute.
© Sansan, Inc.

30

Sansan Group Overview

Company Overview (1)Company name

Sansan, Inc.

FoundedJune 11, 2007

Head office

Aoyama Oval Building 13F, 5-52-2 Jingumae, Shibuya-ku, Tokyo, Japan

Other locations

Branch offices: Tokyo (2 locations), Kansai, Fukuoka, Chubu
Satellite offices: Tokushima, Kyoto, Niigata

Groupcompanies

Sansan Global Pte. Ltd. (Singapore）
Sansan Corporation (United States)
logmi, Inc.

Representative

Chika Terada

Employees

1,261

Capital¥6,553 million

Net sales¥20,420 million (FY2021)

Classification byshareholder type

Individuals and others: 47.35%; foreign financial institutions and individuals: 27.47%;
domestic financial institutions: 21.67%; other domestic corporations: 2.14%;
security firms: 1.37% (as of November 30, 2022)

Head OfficeKamiyama Lab

Sansan Innovation Lab(1) As of February 28, 2023
© Sansan, Inc.

31

Sansan Group Overview

About Employees
Breakdown by Organization (1)Employees (Consolidated)(people)1,261

Sansan/Bill One Business
Sales, SD, CS

1,205
Others955

714

Eight Business

549

1,261
employees

Sansan/Bill One Business
Others
FY2018FY2019FY2020
FY2021
FY2022
2019年5月期
2020年5月期
2021年5月期
2022年5月期
2023年5月期
End-Q4End-Q4End-Q4End-Q4

Sansan/Bill One Business
Development

End-Q3(1) As of February 28, 2023
© Sansan, Inc.

32

Sansan/Bill One Business© Sansan, Inc.

Sansan/Bill One Business

Sansan: Service Outline
Business card/contact management service repositioned as sales DX solution.
Equipped with company information for realizing sales usage of all types of customer information.

Share info other than business cards company-wide

Various corporate information provided

Business cards© Sansan, Inc.

Company information

Email signatures

Website inquiries/forms

Job/position

LocationsMeeting notes

Seminar participants

Corporate risk info

Personnel changes

34

Sansan/Bill One Business

Sansan: Dominant Market Share and Solid Customer Base
Has gained high level of brand recognition among B2B services and established a dominant market share. Built a solid
customer base backed by Japan’s highest SaaS management expertise, which has been cultivated since we began.

Dominant Brand Recognition and Market Share in B2B

Strong Sales Organization and Solid Customer Base

Sales share in 2021 (1)SaaS expertise cultivatedover the 15 years since our founding

Sansan81.6%(1) Based on Latest Trends in Business Card Management Services in Sales Support DX 2023 (December 2022, survey by Seed Planning, in Japanese)© Sansan, Inc.

35

Sansan/Bill One Business

Sansan: Potential Market Size in Japan (TAM)
The number of users within current customers is limited, and there is room for many dozens of times more coverage expansion.

Company Size

Sansan Coverage

Sansan Coverage(Employees)(Company) (1)(Employees) (1)1,000+

17.7%

4.6%

(+1.9 pt.)

4.2%

100–999(+0.4 pt.)

99 or fewer

0.3%(+0.0 pt.)(+0.8 pt.)

3.3%(+0.4 pt.)

Potential formany dozens of times
coverage expansion

1.2%(+0.2 pt.)

(1) Sansan coverage is calculated with the number of subscriptions and total number of IDs in Sansan for FY2022 Q3 end as the numerator and the number based on Economic Census for Business Activity in 2016 issued by the Statistics Bureau as the denominator.
© Sansan, Inc.

36

Sansan/Bill One Business

Sansan: Service Plans
Providing basic company-wide use plan.

A. Basic company-wide use plan

B. Previous plan (ID subscription)

Timing of payment

1

Initial Cost
(initial costs)

2

Customer
Success Plan
(initial costs)

12 months’ license cost

Cost by number of contract IDs

Cost for digitizing existing business cards

Digitization costs for business cards already held
(upper limit placed on number of business cards)

Offer introduction support plans with individual quotation
Costs for implementation and operational support of Sansan services

3

ScannerMonthly ¥10,000/scanner(running costs)

Rent scanners and tablets to customers based on number of office floors and/or branches

4© Sansan, Inc.

Setting by number of contract IDs

License cost

Determined according to company
size and usage (annual subscriptions)(running costs)

Tens of thousands to millions of yen per subscription

Fixed billing for each ID (upper limit placed on thenumber of business cards digitized)(annual subscriptions)

At start ofcontract

At start ofcontract

At start or
renewal ofcontract
At start or
renewal ofcontract37

Sansan/Bill One Business

Sansan: Accumulation of Net Sales by Service-in Timing (Recurring Sales)
Stably achieving negative churn rate (1)Sansan Sales Stack-up: Accumulation of Net Sales by Service-in Timing (Recurring Sales)

FY2017End-Q4FY2018End-Q4FY2019End-Q4FY2020End-Q4FY2021End-Q4FY2022End-Q3(1) Status where increase of revenue generated by the existing subscriptions is greater than revenue reduced resulting from cancellation© Sansan, Inc.

38

Sansan/Bill One Business

Sansan: Sales Composition by Customer Size (Recurring Sales)
No significant change in revenue composition ratio by customer size.
Sansan Sales Composition by Customer Size (1) (Recurring Sales)
YoY(revenue)

Company size (employees)

FY2022End-Q3(composition)

1,000+
100-999
<100

45%

＋

16.5%
＋

36%

13.5%
＋

19%
FY2017End-Q4FY2018End-Q4FY2019End-Q4FY2020End-Q4FY2021End-Q414.3%

FY2022End-Q3(1) Created based on Sansan monthly fee amounts (unaudited), values from graphs up to and including FY2022 Q1 end changed following review of calculation method.
© Sansan, Inc.

39

Sansan/Bill One BusinessBill One: Service Outline
Making all forms of invoices receivable online, while promoting DX of invoice operations through accurate digitization.
Following the introduction of Bill One, customers can smoothly handle various legal amendments and fast monthly closing ofaccounts.
Invoice issuer

Receive, digitize & centralize your invoices. Fast monthly closing.

Bill One user companies

Postal mailOne-stop receipt
Emailattachment

UploadDigitization of invoices with 99.9% (1) accuracy
Centralized management by database

Responds to various legal amendments, etc.
Invoicing System

Revision of Electronic
Bookkeeping Act

Digital Invoice (Peppol) (2)Creation/issuance of eligible invoices
Automatic matching of registration numbers, etc.

Accurate digitization and time stamping
Saving of history, invoice search, etc.

Receipt of digital invoices
Converts paper, PDF, etc. invoices to Peppol format(1) Digitization accuracy when conditions specified by Sansan, Inc. are met.
(2) Planning to released in summer 2023.
© Sansan, Inc.

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Sansan/Bill One BusinessBill One: Customer Base and Positioning
Regardless of industry or business type, acquiring various customers.
Achieved #1 sales in cloud invoice receiving service market.

Customers Running Bill One

Market Share in Cloud Invoice Receiving Services (1)Share of Sales
in Cloud Invoice
Receiving Service Market#1(1) Deloitte Tohmatsu MIC Economic Research Institute, "The Present and Future of the Market of Online Invoice Receiving Solution Service Market, Expected to Grow at a Staggering Rate" (MIC IT Report, July 2022).
© Sansan, Inc.

41

Sansan/Bill One BusinessBill One: External Environment in Invoicing Arena
In addition to invoicing system and Revision of Electronic Bookkeeping Act, various changes—including introduction ofdigital invoices (Peppol format)—expected to occur in environment surrounding invoices.

• System for correctly calculating tax
credits for purchases subject toconsumption tax.

Invoicing
System• Issuing company applies forregistration and issues eligible
invoices.

2022

2023

2024

October 2021 to end of March 2023
Issuer: Contractor’s registration application acceptance period
commences at time of issue of eligible invoice• Receiving companies will be required
to confirm whether received invoices
meet requirements for qualified
invoices, such as the registration
number stated and the recalculationof the consumption tax amount.

October: Invoicing system applications commenceIssuer: Issue of Qualified invoices
Receiver: Only qualified invoices can be applied for tax credit for purchases (1)• Laws related to preservation ofelectronic books.

Revision ofElectronic
Bookkeeping
Act• Paper receipt national tax documents
can be stored electronically with noneed to apply to tax offices.

• Electronic preservation of electronic
receipt national tax documents mademandatory.

January: Enforcement of Electronic Bookkeeping Act (Revised)

Allows2 years for being unable to store electronically only undercertain conditions(1) Certain transitional measures© Sansan, Inc.

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Sansan/Bill One BusinessBill One: Room for Expanded Medium- and Large-Sized Company CoverageStrong brand recognition of Sansan and robust customer base centered on Medium- and Large-Sized companies making
significant contribution to Bill One’s gaining credibility.
Income from Medium- and Large-Sized companies continuing to expand, bringing expectations of coverage expansion.
User Company Coverage (1)Sales Composition by Customer Size (3)YoY
Company size (employees)(Revenue)

23%

1,000+

8,844
E
1,000+

M
100–999

S<100
Company size
(Employees)

Subscriptions

17.7%

1,300

100-999

2.6%

4.2%

1.0%

0.3%

0.0

＋

52%

176.7%＋% (2)Coverage＋

164.9%<100

24%
FY2019End-Q4FY2020End-Q4FY2021End-Q4131.5%FY2022End-Q3(1) The coverage is calculated with the number of subscription in each services for FY2022 Q2 end as the numerator and the number based on Economic Census for Business Activity in 2016 issued by the Statistics Bureau as the denominator.
(2) Paid subscriptions only.
(3) Created based on Bill One monthly fee amounts (unaudited).
© Sansan, Inc.

43

Sansan/Bill One BusinessContract One: Service Outlines
Contract One: Contract DX solution that accurately digitize all contracts and realizes company-wide use.

The service enables all employees to utilize
contract information as a valuable asset in theirbusiness operations by building a comprehensive
database that accurately digitizes both past andfuture contracts.

© Sansan, Inc.

44

Eight Business© Sansan, Inc.

Eight Business

Eight: Service Outline
App used by 3 million+ businesspeople as a service to resolve problems that individuals face in business, including
career-building.

Challenges facing
businesspeople

Not maximizing businessencounters

Lack sufficient access tobusiness card information

Autonomous careerbuilding not possible

Offering a lifetime app for business

Manage your contacts
and your career
Contact and career management app- Automatically creates profiles- Management and search of contact information- Latest information reaches users- Users see career information- Reaches recruiters from companies© Sansan, Inc.

46

Eight Business

Eight: Strengthening and Promotion of Monetization Plans
Augmenting and accelerating monetization by strengthening corporate services that leverage network of 3 million+ users.

B2B Services (1)B2C Services

Recruiting platform

Advertising

Business events

B2B

B2B

B2B

B2B

Pay-for-use charges depending
on delivery volume (3)Fixed fee per event

Fixed monthly fee

Fixed monthly fee (2)(fixed contract)

Professional recruitment services
targeting Eight users(fixed contract)

A service for delivering ads toEight users(held irregularly) (4)Various business event services
using Eight's business network

Business card management(annual subscription)

Users can share contact
with colleagues

B2C

Fixed monthly fee

Delivers additional functions
to users, such as network
data download(1) B2B services in the Eight business include event transcription services for the media logmi Biz, logmi Finance and logmi Tech provided by logmi, Inc.
(2) There is an additional charge when a decision to hire is made.
(3) There is a minimum advertisement placement price and a normal advertisement menu.
(4) There are multiple fee settings depending on the type of event held, etc.
© Sansan, Inc.

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Initiatives for Sustainability© Sansan, Inc.

Initiatives for Sustainability

Material Issues (Priority Issues)
Identified key material issues (priority issues) relating to environment, society, and governance.
Working to resolve these issues through our core business, we aim to contribute to achieving the SDGs and building asustainable society.

© Sansan, Inc.

49

Initiatives for Sustainability

Expansion and Upgrading of Sustainability Information
Uploaded new sustainability page to our corporate website in October 2022.
Sustainability information significantly expanded in Annual Report 2022.

© Sansan, Inc.

- Sustainability page

- Annual ReportJapanese: https://jp.corp-sansan.com/sustainability

Japanese: https://ir.corp-sansan.com/ja/ir/library/report.html

English: https://www.corp-sansan.com/sustainability

English: https://ir.corp-sansan.com/en/ir/library/report.html

50Others

External Evaluations
Achieved “A” rating in external ESG ratings in 2023.
The Government Pension Investment Fund (GPIF) domestic equity investment organizations selected our Annual Report as an“excellent integrated report” and “most-improved integrated report.”
ESG Rating

Annual Report

MSCI (1)Government Pension Investment Fund

MSCI ESG RATING “A”

Excellent Integrated Report

Government Pension Investment Fund

Most-Improved Integrated Report(1) THE USE BY SANSAN, INC. OF ANY MSCI ESG RESEARCH LLC OR ITS AFFILIATES (“MSCI”) DATA, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT,RECOMMENDATION, OR PROMOTION OF SANSAN, INC. BY MSCI. MSCI SERVICES AND DATA ARE THE PROPERTY OF MSCI OR ITS INFORMATION PROVIDERS, AND ARE PROVIDED ‘AS-IS’ AND WITHOUT WARRANTY. MSCI NAMES AND LOGOS ARE
TRADEMARKS OR SERVICE MARKS OF MSCI.
© Sansan, Inc.

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