Important notice. 139 th Ordinary general meeting of shareholders. Christophe Weber President & Chief Executive Officer

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1 139 th Ordinary general meeting of shareholders Christophe Weber President & Chief Executive Officer June 26, 2015 Important notice Forward-Looking Statements This presentation contains forward-looking statements regarding the Company's plans, outlook, strategies, and results for the future. All forward-looking statements are based on judgments derived from the information available to the Company at this time. Forward looking statements can sometimes be identified by the use of forward-looking words such as "may," "believe," "will," "expect," "project," "estimate," "should," "anticipate," "plan," "continue," "seek," "pro forma," "potential," "target, " "forecast," or "intend" or other similar words or expressions of the negative thereof. Certain risks and uncertainties could cause the Company's actual results to differ materially from any forward looking statements contained in this presentation. These risks and uncertainties include, but are not limited to, (1) the economic circumstances surrounding the Company's business, including general economic conditions in the US and worldwide; (2) competitive pressures; (3) applicable laws and regulations; (4) the success or failure of product development programs; (5) decisions of regulatory authorities and the timing thereof; (6) changes in exchange rates; (7) claims or concerns regarding the safety or efficacy of marketed products or product candidates; and (8) integration activities with acquired companies. We assume no obligation to update or revise any forward-looking statements or other information contained in this presentation, whether as a result of new information, future events, or otherwise. Medical Information This presentation contains information about products that may not be available in all countries, or may be available under different trademarks, for different indications, in different dosages, or in different strengths. Nothing contained herein should be considered a solicitation, promotion or advertisement for any prescription drug including the ones under development. Underlying Revenue & Underlying Core Earnings - Underlying performance aims at understanding the real performance of the business. - Core Earnings is calculated from operating profit by excluding the impact of exceptional items, such as purchase accounting, amortization and impairment loss of intangible assets, restructuring costs and litigation costs - Underlying Revenue and Underlying Core Earnings excludes the same items plus product divestments and foreign exchange Please note these terms are non-gaap items, used for internal evaluation purposes and are not audited 1

2 234 years of Takeda s history 1993 ~ Pharmaceutical focus Overseas expansion 2003 ~ Globalization Transforming into Global One Takeda 1781 ~ Founding Modernization 1944 ~ Business diversification 2 The pharmaceutical market evolution (1/3) Growth driven by US & Emerging Markets (EM) (USD, Billion) CAGR* CAGR CAGR 2014 '94-'04 '04-'14 '94-'14 Worldwide % 1,057 7% 7% U.S % 382 5% 8% EU % 165 4% 6% Japan % 88 3% 3% EM & Others % % 9% * CAGR: Compound Annual Growth Rate Source: IMSHealth2015, calculated based on IMS World review analyst 2015 (reprinted with permission) 3

3 The pharmaceutical market evolution (2/3) Growth driven by US & Emerging Markets (EM) (USD, Billion) CAGR* CAGR CAGR 2014 '94-'04 '04-'14 '94-'14 Worldwide % 1,057 7% 7% U.S % 382 5% 8% EU % 165 4% 6% Japan % 88 3% 3% EM & Others % % 9% 21% of the worldwide market * CAGR: Compound Annual Growth Rate 8% of the worldwide market Source: IMSHealth2015, calculated based on IMS World review analyst 2015 (reprinted with permission) 4 The pharmaceutical market evolution (3/3) No. 15 company's market cap is 10 times bigger (USD, Billion) Company Mkt Cap Merck & Co 47.6 Roche 46.2 Johnson & Johnson 35.2 Novartis 32.7 BMS 29.4 Abbott 26.2 Pfizer 24.3 Wyeth 19.2 Eli Lilly 19.2 Smithkline Beecham 19.1 Astra 15.9 Schering-Plough 13.8 Takeda 10.4 Warner-Lambert 10.4 Pharmacia 7.9 Source: Bloomberg (data on the last day of each calendar year) Company Mkt Cap Company Mkt Cap Pfizer Johnson & Johnson Johnson & Johnson Roche GSK Novartis Novartis Pfizer Sanofi Merck & Co Roche Gilead Amgen 80.8 Amgen Abbott 72.8 Sanofi Merck & Co 71.0 Novo Nordisk Eli Lilly 64.2 GSK AstraZeneca 59.5 AbbVie Genentech 57.0 BMS 97.6 Wyeth 56.9 AstraZeneca 89.7 BMS 49.9 Celgene 89.5 Takeda 39.4 Biogen 79.6 x10 5

4 FY2014 results 6 FY2014: A year of transformation and results VALUE PEOPLE R&D Takeda-ism Patient Trust Reputation Business Patient and customer centricity Global and agile organization fostering talent Focused world class R&D innovation engine FY2014: Transforming and Delivering Sales & Core Earnings Target PERFORMANCE Sustaining sales growth Innovation with leadership in GI & Oncology Leverage value brands in Emerging Markets Financial discipline to deliver growth Exceptional loss due to Actos 7

5 Four key new products approved in FY2014 vonoprazan fumarate trelagliptin succinate Significant late-stage milestones achieved Ixazomib: Phase III interim results permitting filing in FY2015 Breakthrough designation in AL Amyloidosis ADCETRIS: Expansion of geographies (e.g. approved in Brazil, filed in Russia) 8 FY2014: Delivering successful launches, achieving +2.8% underlying revenue growth Revenue (billion Constant currency Specialty product ENTYVIO FY2013 FY ADCETRIS FY2013 FY2014 Primary care product BRINTELLIX FY2013 FY FY2013 AZILVA FY * th New Ordinary products: General Products Meeting launched of Shareholders in or after 2009 June excluding 26, 2015 new formulation or fixed dose combination of existing drugs: DEXILANT, ULORIC, NESINA, AZILVA, ADCETRIS, BRINTELLIX, ENTYVIO, CONTRAVE, TAKECAB etc.

6 Growth driven by innovation in the U.S. and Europe, and by value brands 1 in Emerging Markets Underlying growth 1,675.7 (billion yen) Emerging markets 1, Growth rate + 8.1% Europe and Canada % U.S % Japan % Others % FY 2013 FY : Brand generics and OTC 2: Others: Representing licensees business and Consumer Healthcare business, etc. +2.8% growth driven by Millennium, Nycomed and other acquired / licensed products Underlying base billion constant foreign exchange rate Underlying revenue growth +2.8% , % Nycomed created Takeda's presence in EM 1,721.9 Takeda 2013 Millennium Nycomed origin Other acquired/licensed products* * Including Brintellix, Adcetris, Lotriga, etc.

7 Takeda is strongly committed to CSR activities to support patients and society In 2014, Takeda conducted over 40 impactful CSR projects covering healthcare education and capacity building of NGOs Contribution to the Global Fund programs to treat HIV/AIDs, TB, and Malaria in Africa ( ) The Great East Japan Earthquake Reconstruction Support ( ) Volunteer activities over the world (e.g., fundraising and health education) Healthcare Access Program in Asia ( ) - Hygiene - Nutrition - Medical services - HIV/AIDs training 12 FY2015 Strategy and Guidance 13

8 Pharmaceutical market growth driven mainly by EM and US Pharma market growth forecast, (USD billion) 4.5% 1,684 CAGR ,089 32% 8% 23% 1,360 37% 6% 21% 43% 5% 19% Emerging Markets Japan Europe & Canada 7.4% 0.8% 2.6% 54% of the market growth ( ) is from EM 37% 36% 33% US 3.3% Source: IMSHealth2015, calculated based on Long Term Country and Therapy Area Forecasts (reprinted with permission) 14 Global One Takeda Become an agile, best-in-class global pharmaceutical company focused on patients and customers Values based Agile Simple, with clear accountabilities Patient- and customer-centric Talent development and diversity champion 15

9 Organization in place to deliver growth FOUR Therapeutic Areas Units in R&D TWO Global Specialty Business Units FIVE Regional Business Units Gastroenterology (GI) Oncology Central Nervous System (CNS) Cardiovascular/Metabolic (CVM) Oncology Vaccine (incl. R&D) Japan Pharmaceuticals Emerging Markets U.S. EUCAN (Europe + Canada) Japan Consumer Healthcare Global Manufacturing & Quality Business Partner organizations 16 Global, diverse and experienced Takeda's executive team (TET) Yasuchika Hasegawa Chairman of the Board Christophe Weber President & CEO Shinji Honda Masato Iwasaki Andrew Plump Corporate Strategy Officer President Japan Pharma BU Chief Medical and Scientific Officer Chief Financial Officer Christophe Bianchi President Global Oncology BU Ramona Sequeira President US BU Giles Platford President Emerging Markets BU Yoshihiro Nakagawa Global General Counsel David Osborne Global Human Resources Officer Rajeev Venkayya President Global Vaccine BU Marc Princen President EUCAN BU Haruhiko Hirate Corporate Communications and Public Affairs Officer Gerard Greco Global Quality Officer Thomas Wozniewski Global Manufacturing and Supply Officer 17

10 Takeda strategic roadmap VALUE Takeda-ism Patient Trust Reputation Business PEOPLE R&D PERFORMANCE Patient and customer centricity Global and agile organization fostering talent Focused world class R&D innovation engine Sustaining sales growth Innovation with leadership in GI & Oncology Leverage value brands in Emerging Markets Financial discipline to deliver growth FY2015: Positioning Takeda for long-term sales and profit growth 18 FY2015: Positioning Takeda for long-term sales and profit growth VALUE PEOPLE Takeda-ism Patient Trust Reputation Business Patient and customer centricity Global and agile organization fostering talent 1 Live our values and ensure compliance R&D Focused world class R&D innovation engine PERFORMANCE Sustaining sales growth Innovation with leadership in GI & Oncology Leverage value brands in Emerging Markets Financial discipline to deliver growth 19

11 Takeda-ism: Key to our reputation and business success Takeda-ism is our foundation as we focus on: 1 st PUT THE PATIENT AT THE CENTER 2 nd 3 rd 4 th BUILD TRUST WITH SOCIETY REINFORCE OUR REPUTATION DEVELOP THE 20 FY2015: Positioning Takeda for long-term sales and profit growth VALUE PEOPLE R&D Takeda-ism Patient Trust Reputation Business Patient and customer centricity Global and agile organization fostering talent Focused world class R&D innovation engine 2 3 Customer Satisfaction Index Global Talent Development Program PERFORMANCE Sustaining sales growth Innovation with leadership in GI & Oncology Leverage value brands in Emerging Markets Financial discipline to deliver growth 21

12 FY2015: Positioning Takeda for long-term sales and profit growth VALUE Takeda-ism Patient Trust Reputation Business PEOPLE R&D PERFORMANCE Patient and customer centricity Global and agile organization fostering talent Focused world class R&D innovation engine Sustaining sales growth Innovation with leadership in GI & Oncology Leverage value brands in Emerging Markets Financial discipline to deliver growth 4 Ixazomib registration and launch preparation 5 Center for External Innovation 22 FY2015: Positioning Takeda for long-term sales and profit growth VALUE PEOPLE R&D PERFORMANCE Takeda-ism Patient Trust Reputation Business Patient and customer centricity Global and agile organization fostering talent Focused world class R&D innovation engine Sustaining sales growth Innovation with leadership in GI & Oncology Leverage value brands in Emerging Markets Financial discipline to deliver growth 6Reinforcing our growth drivers: GI, Oncology and EMs 7Optimizing capital allocation 8 Operational Excellence to deliver CE and EPS growth, + Summit 23

13 ROE to be improved (%) Historical Takeda's ROE Excluding Actos settlement -6.3 Including Actos settlement Fiscal Year 24 FY2015 Management guidance FY2015 Management Guidance (underlying growth) Revenue Core Earnings Core EPS Low single digit Higher than revenue growth Higher than core earnings growth Annual dividend per share EPS: Earnings per share FY2015 after FY yen at least maintain 180 yen The Actos settlement will not affect Takeda's ability to pay dividends 25

14 500 years of Takeda s history and outlook 1944 ~ Business diversification 1781 ~ Founding Modernization 1993 ~ Pharmaceutical Focus Overseas Expansion Transforming into Global 2003 ~ One Takeda Globalization Better Health, Brighter Future 26 Better Health, Brighter Future 1 st PUT THE PATIENT AT THE CENTER 2 nd 3 rd 4 th BUILD TRUST WITH SOCIETY REINFORCE OUR REPUTATION DEVELOP THE