GNI : Amendment of "FY2022 Financial Results Corporate Presentation" document

Amendment of "FY2022 Financial Results Corporate Presentation" document

March 7, 2023 - GNI Group Ltd., (TSE Growth listed code: 2160) announced that it was amending "FY2022 Financial Results Corporate Presentation" document which it disclosed on February 17, 2023, as follows.

１． Reason for the amendment:

The following errors have been found in "Consolidated Financial Results for FY2022(IFRS)."

• The tax calculation associated with the market valuation of CellCarta, an investee of the Group, was inappropriate.

• Depreciation and amortization in segment information did not include depreciation expenses for intangible fixed assets.

• In the information related to products and services, the foreign exchange rate applied to convert Renminbi to Japanese yen was not updated, so the ETUARY®'s sales revenue in Japanese yen was incorrect.
• In the consolidated statement of cash flows, some item under "depreciation and amortization" in cash flows from operating activities was inadvertently included in "other." (No impact on "Net cash provided by operating activities" figures)

The portions relevant to the above are amended in "FY2022 Financial Results Corporate Presentation."

２． Where amendments are added:

The entire updated document is attached below, in which the amendments are highlighted in yellow.

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About GNI Group, Inc.:

GNI Group is a global healthcare company listed on the Growth Board of the Tokyo Stock Exchange and engaged in drug discovery, pharmaceutical development, biomaterial development, clinical studies, manufacturing, and sales in both the United States and China. For more information, please visit our website below: https://www.gnipharma.com/

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This material contains statements concerning the current plans, expectations, and strategies of GNI Group Ltd. (GNI Group). Any statements contained herein that pertain to future operating performance and that are not historic facts are forward-looking statements. Forward-looking statements may include, but are not limited to, words such as "believe," "plan," "strategy," "expect," "forecast," "possibility" and similar words that describe future operating activities, business performance, events, or conditions. Forward-looking statements, whether spoken or written, are based on judgments made by the management of GNI Group, based on information that is currently available to it. As such, these forward-looking statements are subject to various risks and uncertainties, and actual business results may vary from the forecasts expressed or implied in forward-looking statements. Consequently, investors are cautioned not to place undue reliance on forward-looking statements. The information contained in this material does not constitute or form part of any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities, nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. Any decision to invest in or acquire securities of GNI Group must be based on the information contained in the preliminary offering circular issued or to be issued by GNI Group in connection with any such offer and not on the contents hereof

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Forward-looking Statements

This presentation contains statements concerning the current plans, expectations and strategies of GNI Group Ltd. (GNI Group). Any statements contained herein that pertain to future operating performance and that are not historic facts are forward-looking statements. Forward-looking statements may include, but are not limited to, words such as "believe," "plan," "strategy," "expect," "forecast," "possibility" and similar words that describe future operating activities, business performance, events or conditions. Forward-looking statements, whether spoken or written, are based on judgments made by the management of GNI Group, based on information that is currently available to it. As such, these forward- looking statements are subject to various risks and uncertainties, and actual business results may vary substantially from the forecasts expressed or implied in forward-looking statements. Consequently, investors are cautioned not to place undue reliance on forward-looking statements.

The information contained in this presentation does not constitute or form part of any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities, nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. Any decision to invest in or acquire securities of GNI Group must be based wholly on the information contained in the preliminary offering circular issued or to be issued by GNI Group in connection with any such offer and not on the contents hereof.

This English summary translation is for reference purposes only. To the extent there is any discrepancy between this English translation and the original Japanese version, please refer to the Japanese version.

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