Filing of Corporate Governance Report to the Tokyo Stock Exchange

July 9, 2025

OSAKA, Japan, and CAMBRIDGE, Massachusetts, July 9, 2025 – Takeda (TSE:4502/NYSE:TAK) today filed its Corporate Governance Report with the Tokyo Stock Exchange (“TSE”) in accordance with the regulations^* for TSE listed companies. The Report can be accessed on Takeda’s website at: https://www.takeda.com/about/corporate-governance/charters-and-reports/

The Report is prepared in line with the current Corporate Governance Code. It describes Takeda’s latest corporate governance features, including the new composition of the Board of Directors following the 149th Annual General Meeting of Shareholders held on June 25, 2025.

Key elements of Takeda’s Corporate Governance Report:

Takeda ensures the transparency and objectivity of the Board of Directors’ discussions by maintaining a high ratio of independent external directors (three internal directors and 11 independent external directors) and having an independent external director serve as Chair of the Board Meeting.
The Board of Directors is composed of diverse members with various background, experiences and knowledge (BOD Skill Matrix), to enable strategic discussions and effective supervision of the Company.
The Audit and Supervisory Committee and the Nomination/Compensation Committees, the latter being voluntary advisory committees of the Board of Directors, are composed entirely of independent external directors, including each head/chairperson, in order to ensure the independence of each committee.
Takeda has internal management committees composed of Internal Directors, to whom authority is delegated by the BOD, and the Takeda Executive Team, which consists of the function heads of the Takeda Group. Matters determined by such committees are then reported to the BOD and the BOD supervises them in an appropriate manner.
In response to TSE's request for "Action to Implement Management that is Conscious of Cost of Capital and Stock Price", Takeda has updated its views on cost of capital and market valuation.

Takeda’s latest Corporate Governance Report can be found on the information disclosure site operated by the Japan Exchange Group which consists of the TSE and other exchanges in Japan at: https://www2.jpx.co.jp/tseHpFront/CGK020010Action.do?Show=Show

Takeda also furnished the English version of the Corporate Governance Report with the U.S. Securities and Exchange Commission (the “SEC”), available at http://www.sec.gov.

Additionally, Takeda’s corporate governance as well as overall sustainability and Environmental, Social and Governance information are explained in detail in its 2025 Annual Integrated Report for the fiscal year ended March 31, 2025, which was issued on June 30th. This report can be accessed on Takeda’s website at: https://www.takeda.com/investors/annual-integrated-report/

^* TSE’s Securities Listing Regulations Rule 419.

**OSAKA, Japan, and CAMBRIDGE, Massachusetts, July 9, 2025** – Takeda ([TSE:4502/NYSE:TAK](/investors/overview/)) today filed its Corporate Governance Report with the Tokyo Stock Exchange (“TSE”) in accordance with the regulations<sup>*</sup> for TSE listed companies. The Report can be accessed on Takeda’s website at: https://www.takeda.com/about/corporate-governance/charters-and-reports/　 The Report is prepared in line with the current Corporate Governance Code. It describes Takeda’s latest corporate governance features, including the new composition of the Board of Directors following the 149th Annual General Meeting of Shareholders held on June 25, 2025. Key elements of Takeda’s Corporate Governance Report: * Takeda ensures the transparency and objectivity of the Board of Directors’ discussions by maintaining a high ratio of independent external directors (three internal directors and 11 independent external directors) and having an independent external director serve as Chair of the Board Meeting. * The Board of Directors is composed of diverse members with various background, experiences and knowledge ([BOD Skill Matrix](https://assets-dam.takeda.com/image/upload/v1750663306/Global/Investor/events/shareholders-meetings/2025/skills-matrix/Web-Skill_matrix_after_149th-GSM_en.pdf)), to enable strategic discussions and effective supervision of the Company. * The Audit and Supervisory Committee and the Nomination/Compensation Committees, the latter being voluntary advisory committees of the Board of Directors, are composed entirely of independent external directors, including each head/chairperson, in order to ensure the independence of each committee. * Takeda has internal management committees composed of Internal Directors, to whom authority is delegated by the BOD, and the Takeda Executive Team, which consists of the function heads of the Takeda Group. Matters determined by such committees are then reported to the BOD and the BOD supervises them in an appropriate manner. * In response to TSE's request for "Action to Implement Management that is Conscious of Cost of Capital and Stock Price", Takeda has updated its views on cost of capital and market valuation. Takeda’s latest Corporate Governance Report can be found on the information disclosure site operated by the Japan Exchange Group which consists of the TSE and other exchanges in Japan at: https://www2.jpx.co.jp/tseHpFront/CGK020010Action.do?Show=Show Takeda also furnished the English version of the Corporate Governance Report with the U.S. Securities and Exchange Commission (the “SEC”), available at http://www.sec.gov. Additionally, Takeda’s corporate governance as well as overall sustainability and Environmental, Social and Governance information are explained in detail in its 2025 Annual Integrated Report for the fiscal year ended March 31, 2025, which was issued on June 30th. This report can be accessed on Takeda’s website at: https://www.takeda.com/investors/annual-integrated-report/ <sup>*</sup> TSE’s Securities Listing Regulations Rule 419.

About Takeda

Takeda is focused on creating better health for people and a brighter future for the world. We aim to discover and deliver life-transforming treatments in our core therapeutic and business areas, including gastrointestinal and inflammation, rare diseases, plasma-derived therapies, oncology, neuroscience and vaccines. Together with our partners, we aim to improve the patient experience and advance a new frontier of treatment options through our dynamic and diverse pipeline. As a leading values-based, R&D-driven biopharmaceutical company headquartered in Japan, we are guided by our commitment to patients, our people and the planet. Our employees in approximately 80 countries and regions are driven by our purpose and are grounded in the values that have defined us for more than two centuries. For more information, visit www.takeda.com.

Forward-Looking Statements

This press release and any materials distributed in connection with this press release may contain forward-looking statements, beliefs or opinions regarding Takeda’s future business, future position and results of operations, including estimates, forecasts, targets and plans for Takeda. Without limitation, forward-looking statements often include words such as “targets”, “plans”, “believes”, “hopes”, “continues”, “expects”, “aims”, “intends”, “ensures”, “will”, “may”, “should”, “would”, “could”, “anticipates”, “estimates”, “projects”, “forecasts”, “outlook” or similar expressions or the negative thereof. These forward-looking statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those expressed or implied by the forward-looking statements: the economic circumstances surrounding Takeda’s global business, including general economic conditions in Japan and the United States and with respect to international trade relations; competitive pressures and developments; changes to applicable laws and regulations, including tax, tariff and other trade-related rules; challenges inherent in new product development, including uncertainty of clinical success and decisions of regulatory authorities and the timing thereof; uncertainty of commercial success for new and existing products; manufacturing difficulties or delays; fluctuations in interest and currency exchange rates; claims or concerns regarding the safety or efficacy of marketed products or product candidates; the impact of health crises, like the novel coronavirus pandemic; the success of our environmental sustainability efforts, in enabling us to reduce our greenhouse gas emissions or meet our other environmental goals; the extent to which our efforts to increase efficiency, productivity or cost-savings, such as the integration of digital technologies, including artificial intelligence, in our business or other initiatives to restructure our operations will lead to the expected benefits; and other factors identified in Takeda’s most recent Annual Report on Form 20-F and Takeda’s other reports filed with the U.S. Securities and Exchange Commission, available on Takeda’s website at: https://www.takeda.com/investors/sec-filings-and-security-reports/ or at www.sec.gov. Takeda does not undertake to update any of the forward-looking statements contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule. Past performance is not an indicator of future results and the results or statements of Takeda in this press release may not be indicative of, and are not an estimate, forecast, guarantee or projection of Takeda’s future results.

This press release and any materials distributed in connection with this press release may contain forward-looking statements, beliefs or opinions regarding Takeda’s future business, future position and results of operations, including estimates, forecasts, targets and plans for Takeda. Without limitation, forward-looking statements often include words such as “targets”, “plans”, “believes”, “hopes”, “continues”, “expects”, “aims”, “intends”, “ensures”, “will”, “may”, “should”, “would”, “could”, “anticipates”, “estimates”, “projects”, “forecasts”, “outlook” or similar expressions or the negative thereof. These forward-looking statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those expressed or implied by the forward-looking statements: the economic circumstances surrounding Takeda’s global business, including general economic conditions in Japan and the United States and with respect to international trade relations; competitive pressures and developments; changes to applicable laws and regulations, including tax, tariff and other trade-related rules; challenges inherent in new product development, including uncertainty of clinical success and decisions of regulatory authorities and the timing thereof; uncertainty of commercial success for new and existing products; manufacturing difficulties or delays; fluctuations in interest and currency exchange rates; claims or concerns regarding the safety or efficacy of marketed products or product candidates; the impact of health crises, like the novel coronavirus pandemic; the success of our environmental sustainability efforts, in enabling us to reduce our greenhouse gas emissions or meet our other environmental goals; the extent to which our efforts to increase efficiency, productivity or cost-savings, such as the integration of digital technologies, including artificial intelligence, in our business or other initiatives to restructure our operations will lead to the expected benefits; and other factors identified in Takeda’s most recent Annual Report on Form 20-F and Takeda’s other reports filed with the U.S. Securities and Exchange Commission, available on Takeda’s website at: https://www.takeda.com/investors/sec-filings-and-security-reports/ or at [www.sec.gov](https://www.sec.gov). Takeda does not undertake to update any of the forward-looking statements contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule. Past performance is not an indicator of future results and the results or statements of Takeda in this press release may not be indicative of, and are not an estimate, forecast, guarantee or projection of Takeda’s future results.

Filing of Corporate Governance Report to the Tokyo Stock Exchange | Takeda Pharmaceuticals