ＡＶＡＮＴＩＡ（8904） – Summary of Consolidated Financial Results for the Six Months Ended February 28, 2022 (Based on Japanese GAAP)

Translation Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail. Summary of Consolidated Financial Results for the Six Months Ended February 28, 2022 (Based on Japanese GAAP) April 11, 2022Company name: Stock exchange listing: Tokyo, Nagoya AVANTIA CO.,LTD. Stock code: Representative: Inquiries: 8904 Representative Director President Director and Department Manager of Administration URL https://avantia-g.co.jp/ Yasunari Sawada Scheduled date to file Quarterly Securities Report: Scheduled date to commence dividend payments: Preparation of supplementary material on quarterly financial results: Yes April 11, 2022 May 20, 2022 Shoji Higuchi TEL 052-859-0034 Holding of quarterly financial results meeting: 1. Consolidated financial results for the six months ended February 28, 2022 (from September 1, 2021 to February 28, 2022) Yes (Amounts less than one million yen are rounded down)(1) Consolidated operating results (cumulative) Net sales Operating profit Percentages indicate year-on-year changesProfit attributable to owners of parent Ordinary profit Six months ended February 28, 2022 Six months ended February 28, 2021 Millions of yen 22,359 17,690 % Millions of yen 167 (42.8)292 304.9 % Millions of yen 223 364 26.4 7.3 % Millions of yen 100 229 (38.8)67.0 % (56.2)82.9 Six months ended February 28, 2022 Six months ended February 28, 2021 (2) Consolidated financial position As of February 28, 2022 As of August 31, 2021 2. Cash dividends Earnings per share Diluted earnings per share Yen 7.07 16.17 Yen – – Total assets Net assets Equity ratio Millions of yen 58,413 53,466 Millions of yen 25,397 25,585 % 43.5 47.9 1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end Total Annual dividends per share Year ended August 31, 2021 Year ending August 31, 2022 Year ending August 31, 2022 (Forecast) Yen – – Yen 19.00 19.00 Yen – – Yen 19.00 19.00 Yen 38.00 38.00 3. Forecast of consolidated financial results for the year ending August 31, 2022 (from September 1, 2021 to August 31, 2022) Percentages indicate year-on-year changesProfit attributable to owners of parent Earnings per share Net sales Operating profit Ordinary profit Full year Millions of yen 60,000 % Millions of yen 2,000 32.4 % Millions of yen 2,200 14.9 % Millions of yen 1,500 13.5 % 10.9 Yen 105.23 14. Notes (1) Changes in significant subsidiaries during the six months ended February 28, 2022 (changes in specified subsidiaries resulting in the change in scope of consolidation): (2) Application of special accounting methods for preparing quarterly consolidated financial statements: Yes (3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements Changes in accounting policies due to revisions to accounting standards and other regulations: Changes in accounting policies due to other reasons: Changes in accounting estimates: Restatement of prior period financial statements: (4) Number of issued shares (common shares) Total number of issued shares at the end of the period (including treasury shares) No Yes No No No As of February 28, 2022 14,884,300 shares As of August 31, 2021 14,884,300 shares Number of treasury shares at the end of the period As of February 28, 2022 620,455 shares As of August 31, 2021 649,155 shares Average number of shares during the period (cumulative from the beginning of the fiscal year) Six months ended February 28, 2022 14,245,927 shares Six months ended February 28, 2021 14,216,148 shares 2 As of August 31, 2021 As of February 28, 2022 (Thousands of yen) Quarterly consolidated financial statements Consolidated balance sheets Assets Current assets Cash and deposits Notes receivable, accounts receivable from completed construction contracts and other Notes receivable, accounts receivable from completed construction contracts and other, contract assets Real estate for sale Costs on development business and other Costs on construction contracts in progress Raw materials and supplies Other Allowance for doubtful accounts Total current assets Non-current assets Property, plant and equipment Intangible assets Investments and other assets Investment securities Other Total investments and other assets Total non-current assets Total assets Liabilities Current liabilities Notes payable, accounts payable for construction contracts and other Short-term borrowings Current portion of long-term borrowings Income taxes payable Advances received on construction contracts in progress Contract liabilities Provision for bonuses Provision for warranties for completed construction Other Total current liabilities Non-current liabilities Long-term borrowings Retirement benefit liability Other Total non-current liabilities Total liabilities 3 12,881,771 1,313,202 – 6,008,205 22,974,924 2,464,850 17,944 625,381 (1,597) 46,284,682 5,092,955 662,791 561,210 865,315 1,426,526 7,182,273 53,466,956 2,194,225 12,530,780 1,269,855 345,932 3,615,221 – 129,271 30,614 1,150,455 21,266,355 5,897,960 253,542 463,910 6,615,413 27,881,769 10,568,193 – 1,934,527 4,635,212 29,335,903 4,563,081 19,802 662,646 (273) 51,719,093 4,703,798 617,341 468,634 904,919 1,373,554 6,694,694 58,413,788 2,266,050 18,349,460 2,964,475 130,638 – 2,317,264 109,160 20,027 875,532 27,032,610 5,290,367 256,843 436,403 5,983,614 33,016,224 As of August 31, 2021 As of February 28, 2022 (Thousands of yen) Net assets Shareholders’ equity Share capital Capital surplus Retained earnings Treasury shares Total shareholders’ equity Accumulated other comprehensive income Valuation difference on available-for-sale securities Total accumulated other comprehensive income Total net assets Total liabilities and net assets 3,732,673 2,980,013 19,403,285 (602,061) 25,513,910 71,276 71,276 25,585,186 53,466,956 3,732,673 2,978,249 19,233,490 (575,443) 25,368,969 28,594 28,594 25,397,563 58,413,788 4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative) Consolidated statements of income (cumulative) Six months ended February 28, 2021 Six months ended February 28, 2022 (Thousands of yen) 17,690,369 14,981,215 2,709,153 2,416,722 292,430 753 2,913 23,705 57,302 39,435 124,111 38,615 13,049 51,664 364,877 – 2,083 2,083 – 25,023 25,023 341,937 112,031 229,906 229,906 22,359,102 19,063,089 3,296,012 3,128,880 167,132 392 3,085 28,824 49,744 47,976 130,022 51,810 22,172 73,983 223,171 14 – 14 29,966 9,862 39,828 183,357 82,683 100,673 100,673 Selling, general and administrative expenses Net sales Cost of sales Gross profit Operating profit Non-operating income Interest income Dividend income Administrative service fee income Refunded real-estate acquisition tax Other Total non-operating income Non-operating expenses Interest expenses Other Total non-operating expenses Ordinary profit Extraordinary income Gain on sale of non-current assets Gain on reversal of asset retirement obligations Total extraordinary income Extraordinary losses Loss on sale of non-current assets Loss on retirement of non-current assets Total extraordinary losses Profit before income taxes Income taxes Profit Profit attributable to owners of parent 5Consolidated statements of comprehensive income (cumulative) (Thousands of yen) Six months ended February 28, 2021 Six months ended February 28, 2022 Profit Other comprehensive income Valuation difference on available-for-sale securities Total other comprehensive income Comprehensive income Comprehensive income attributable to Comprehensive income attributable to owners of parent Comprehensive income attributable to non-controlling interests 229,906 29,955 29,955 259,862 259,862 – 100,673 (42,682) (42,682) 57,990 57,990 – 6Consolidated statements of cash flows (Thousands of yen) Six months ended February 28, 2021 Six months ended February 28, 2022 Cash flows from operating activities Profit before income taxes Depreciation Amortization of goodwill Gain on reversal of asset retirement obligations Increase (decrease) in allowance for doubtful accounts Increase (decrease) in provision for bonuses Increase (decrease) in provision for warranties for completed construction Increase (decrease) in retirement benefit liability Interest and dividend income Interest expenses Loss (gain) on sale of non-current assets Loss on retirement of non-current assets Decrease (increase) in trade receivables Decrease (increase) in inventories Increase (decrease) in trade payables Increase (decrease) in advances received on construction contracts in progress Increase (decrease) in contract liabilities Other, net Subtotal Interest and dividends received Interest paid Income taxes refund (paid) Net cash provided by (used in) operating activities Cash flows from investing activities Payments into time deposits Proceeds from withdrawal of time deposits Purchase of property, plant and equipment Proceeds from sale of property, plant and equipment Purchase of intangible assets Purchase of investment securities Proceeds from redemption of investment securities Other, net Net cash provided by (used in) investing activities Cash flows from financing activities Proceeds from short-term borrowings Repayments of short-term borrowings Proceeds from long-term borrowings Repayments of long-term borrowings Dividends paid Net cash provided by (used in) financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period 7 341,937 105,907 16,634 (2,083) (201) (44,315) 956 6,954 (3,667) 38,615 – 25,023 714,671 (1,111,388) (717,837) 36,669 – (47,213) (639,335) 2,967 (37,563) (475,747) (1,149,679) (78,076) 60,114 (32,701) – (37,353) (1,527) 61,000 (54,659) (83,203) 7,050,500 (7,703,500) 505,000 (154,105) (270,214) (572,319) (1,805,202) 14,097,824 12,292,621 183,357 161,759 34,973 – (1,323) (20,110) (10,587) 3,301 (3,477) 51,810 29,951 9,862 (621,325) (7,088,074) 71,824 – (1,297,957) (10,381) (8,506,396) 3,130 (52,108) (366,939) (8,922,314) (65,282) 69,344 (26,970) 1,878 (5,726) (1,538) 33,000 (27,186) (22,482) 21,990,705 (16,172,025) 1,755,000 (667,972) (270,426) 6,635,280 (2,309,516) 12,832,707 10,523,190