Yoshikazu Tanaka, Founder, Chairman and CEO: Thank you for joining the FY20 21, fourth quarter financial results briefing of GREE Inc. I am Yoshikazu Tanaka. Please refer to the executive summary on Page 2. Starting with the full year results, net sales was ¥56 .8 billion. Operating Income was ¥5.4 billion and EBITDA was ¥6.2 billion. We achieved year-on-year growth in operating income. In the game business, we strengthened our global operation systems and increased sales while developing new titles. We continued to invest in and grow the live entertainment business and the advertising and media business. For the fourth quarter, net sales was ¥13 .9 billion. Operating Income was ¥1.5 billion and EBITDA was ¥1.7 billion. Operating Income surpassed our forecast. This is our plan for FY22. We will continue to focus on the three business pillars. In the game business, we will continue to pursue our game engine, IP, and global strategies, and release multiple new titles, which we have been working on since last year. The Metaverse business has been renamed from the live entertainment business from this fiscal year. We will pursue growth in this domain as Metaverse. The third is the advertising and media business. We will continue to invest to expand our vertical media portfolio. Now, Mr. Oya will give you an overview of our consolidated financial results.

he live entertainment business from this fiscal year. We will pursue growth in this domain as Metaverse. The third is the advertising and media business. We will continue to invest to expand our vertical media portfolio. Now, Mr. Oya will give you an overview of our consolidated financial results. Toshiki Oya, Director, Senior Vice President, CFO: Please turn to Page 5. Again, FY21 net sales was ¥56 .8 billion, operating income was ¥5.4 billion and EBITDA was ¥6.2 billion. Net income was ¥13 .5 billion. Both operating income and net income achieved growth year-on-year. For the full year, net sales increased while operating income decreased. The main factors behind the sales decline were the transfer of the fashion commerce business in the advertising and media business and the weak performance of part of the media business due to COVID-19. On the other hand, operating income increased as a result of restructuring efforts and improvements in the structure of each business. Ordinary income and net income increased Page 1 of 7

significantly on the profit from investment fund operation business and the gain on the sale of investment securities. As for the fourth quarter, net sales and operating income are as explained earlier. I n terms of ordinary income and net income, n et income was ¥4.2 billion, thanks to the gain on the sale of investment securities, with the IPO of one of the companies we had invested and some additional deferred tax assets booked based on better recoverability. Next, Page 6 shows you the trends in the net sales, EBITDA and operating income. We enjoyed firm net sales and operating income. Page 7 shows the analysis of operating income compared to the previous quarter. First, net sales had positive and negative factors. With Another Eden and some other major titles celebrating anniversary during the quarter, anniversary-related sales stayed strong. In the meantime, Assault Lily: Last Bullet hit the lull, after its launch in the third quarter. Overall, the total sales increased slightly. Among variable costs, advertising cost increased a little for anniversary events. As for fixed costs, the provision for bonuses, etc, increased as it was the end of a fiscal year. With all that, operating income for the fourth quarter was ¥1.5 billion. Page 8 shows the cost structure for the fourth quarter. As I said, variable costs increased from the previous quarter due to the app game anniversary events. On the other hand, in commission fees, etc, royalties decreased along with improvement of product mix, thanks to the growth of Another Eden and other first party IPs. As a fixed cost, the provision for bonuses increased. As a result, total costs were ¥12 .4 billion.

he app game anniversary events. On the other hand, in commission fees, etc, royalties decreased along with improvement of product mix, thanks to the growth of Another Eden and other first party IPs. As a fixed cost, the provision for bonuses increased. As a result, total costs were ¥12 .4 billion. Page 9 is about stock repurchase. Stock repurchase has been underway, and as of the end of July 2021, approximately 17 million shares or roughly ¥10 billion have been repurchased. The progress is proportionate to the period passed. Page 10 shows the year-end dividend. The dividend per share will be ¥12.5. Our dividend distribution plan is to maintain DOE at around 2% with consolidated payout ratio of 20% or higher. With the upswing of the fourth Page 2 of 7

quarter net income, we would like to raise the dividend to ¥12.5 per share from the May forecast of ¥11 per share, which means an increase of ¥2.5 from the FY20 actual. Page 11 please. Let me share FY22 outlook with a focus on trends. In FY21, we achieved operating income growth and reached a turning point in earnings. For FY22, we are aiming for growth in both sales and profit based on stable game operation and new titles. While the actual level of operating income will depend on upfront investments in REALITY promotions and others, which will be explained later. Let me look at each business in more detail. For the game business, g ame operations are expected to remain stable. We are also planning to release multiple new titles. As with any game, they may or may not be successful as planned, but our aim is to create new income sources and achieve stable growth. Next is the Metaverse business where we plan to make upfront investments to grow REALITY further. Global distribution outside of Japan is underway in order to expand the user base. Although we will keep an eye on ROI, we may implement promotions of about ¥2 billion to ¥3 billion per year. Financially, such investments will not directly result in decreased profit, but will be recovered over a certain period of time. FY22 could, as a single year, see a negative impact of several ¥100 million, but we may decide to do it in order to accelerate our business growth in FY23 and beyond.

r. Financially, such investments will not directly result in decreased profit, but will be recovered over a certain period of time. FY22 could, as a single year, see a negative impact of several ¥100 million, but we may decide to do it in order to accelerate our business growth in FY23 and beyond. Next is the advertising and media business. In FY21, we achieved a profit for the full year, which has been our goal as I mentioned in the past. From FY22 onward, we will reinvest the profit to make the growth sustainable, aiming for stable growth both financially and operationally. Next is the investment and incubation business. From FY22 , w e have reframed our existing venture capital investments and startup investments as a business. I n line with this change, we will change the classification of their profit and loss from non-operating to operating as net sales and operating income. We expect this business to consistently contribute to profit over the medium to long term and target a return of over 10%. As you all know, investments are quite volatile and results can Page 3 of 7