Sumitomo Pharma, Sumitovant Biopharma, and Myovant Sciences Complete the Transaction

Sumitomo Pharma Co., Ltd. (Head Office: Osaka, Japan; Representative Director, President and CEO: Hiroshi Nomura; Securities Code: 4506, Prime Market of TSE) ("Sumitomo Pharma") announced today that, on March 10, 2023 (local time), Sumitovant Biopharma Ltd. ("Sumitovant") of Sumitomo Pharma's wholly owned subsidiary completed the transaction wherein Myovant Sciences Ltd. ("Myovant") (NYSE: MYOV) became a wholly owned subsidiary of Sumitovant (hereinafter, the "Transaction"), on which the three parties concerned entered into a definitive agreement as announced on October 24, 2022. With this, Myovant became a wholly owned subsidiary of Sumitovant as of the same date.

At a special general meeting of Myovant's shareholders held on March 1, 2023 (local time), the Transaction was approved by a majority of Myovant's shares entitled to vote and voting at the meeting and by a majority of Myovant's shares held by non-Sumitovant shareholders. Accordingly, Myovant will delist its shares on the New York Stock Exchange and continue business as one of the Sumitomo Pharma Group companies.

"I am confident that bringing together the capabilities and strengths of Sumitovant and Myovant will best position us to continue delivering innovative therapies to patients sooner and accelerate the potential opportunities for ORGOVYX^® and MYFEMBREE^®," said Hiroshi Nomura, CEO of Sumitomo Pharma.

The total value for the Transaction was approximately $1.7 billion (approximately 231 billion yen), financed through a combination of cash on hand and a bridge loan (90 billion yen) from Sumitomo Mitsui Banking Corporation.

The Transaction is expected to have a negative impact on each profit level below core operating profit in the consolidated financial results for the year ending March 31, 2023, but the amount of impact is currently being investigated. The impact of the Transaction has been factored to an extent in the forecasts of consolidated financial results for the year ending March 31, 2023, which was announced on January 31, 2023.

Please note that a relevant release titled "Sumitomo Pharma, Sumitovant Biopharma, and Myovant Sciences Enter into Definitive Agreement" was disclosed on October 24, 2022.
https://www.sumitomo-pharma.com/news/assets/pdf/ene20221024_1.pdf

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About Sumitovant Biopharma Ltd.
Sumitovant is a technology-driven biopharmaceutical company accelerating development and commercialization of new potential therapies for patients with rare conditions and other diseases. Through our proprietary computing and data platforms, scientific expertise and diverse company portfolio, Sumitovant has supported development of multiple FDA-approved products and a robust pipeline of early- through late-stage investigational assets addressing unmet patient needs in pediatrics, urology, oncology, women's health, specialty respiratory and infectious diseases. Sumitovant is a wholly owned subsidiary of  Sumitomo Pharma. Please visit our website www.sumitovant.com for more information on Sumitovant and our portfolio.

About Myovant Sciences
Myovant Sciences aspires to redefine care for women and men through purpose-driven science, empowering medicines, and transformative advocacy worldwide. Since its formation in 2016, Myovant has secured five regulatory approvals in the United States and Europe for its products ORGOVYX^® and MYFEMBREE^® in hormone-sensitive oncology and women's health, respectively. Myovant and its partners continue to file for additional indications of its products, as well as advance development of its pipeline. Myovant is a wholly owned subsidiary of Sumitovant Biopharma Ltd., as of March 10, 2023. For more information, please visit www.myovant.com.