PLAID : Announcement regarding Conclusion of the Syndicated Loan Agreement and Revision of Earnings Forecasts

Note: This document is an English translation of the original Japanese language document and has been prepared solely for reference purposes. No warranties or assurances are given regarding the accuracy or completeness of this English translation. In the event of any discrepancy between this English translation and the original Japanese language document, the original Japanese language document shall prevail in all respects.

September 28, 2021

For Immediate Release
Company	PLAID, Inc.
name:
Representative:	Representative Director and CEO	Kenta Kurahashi
	(Code No.: 4165, Tokyo Stock Exchange Mothers)
Contact:	Executive Officer and CFO	Kentaro Muto
	(TEL: [phone])

Announcement regarding Conclusion of the Syndicated Loan Agreement

and Revision of Earnings Forecasts

PLAID, Inc. (the "Company") announces that the Company has made a resolution at the Board of Directors held on September 28, 2021, to conclude a syndicated loan agreement for a total amount of 2,000 millions of yen (term loan and commitment line) with Sumitomo Mitsui Banking Corporation as an arranger. Details are as follows.

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The purpose is to secure funds for the acquisition of shares of Emotion Tech, Inc. described in the " Announcement regarding Acquisition of Emotion Tech, Inc. as a Subsidiary through Acquisition of Shares and Underwriting Capital Increase by Third Party Allotment and Notice of Posting an Extraordinary Income (Gain on Step Acquisitions) and a Non-operating Expense (Other Acquisition Expenses)" announced on August 27, 2021, as well as to secure a flexible and stable financing means.

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		(Tranche A)	(Tranche B)
(1) Type	Term Loan	Commitment Line
(2) Amount	1,500 millions of yen	500 millions of yen
(3)	Date of Conclusion	September 28, 2021
(4) Terms	Execution date: October 5, 2021	Effective date: September 30, 2021
		Maturity date: September 30,	Expiration date: September 30,
		2026	2022
(5)	Interest	Base Rate + Spread
(6)	Purpose of the Funds	Funds for stock acquisition	Operating funds
(7) Arranger	Sumitomo Mitsui Banking Corporation
(8) Agent	Sumitomo Mitsui Banking Corporation
(9)	Participating	Sumitomo Mitsui Banking Corporation, Aozora Bank, Ltd., and Shinsei
Financial Institutions	Bank, Limited

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As a result of this agreement, the Company is expected to post a non-operating expense as arrangement fees and other expenses (approximately 40 millions of yen) for the composition of the syndicated loan in the financial statements for the fiscal year ending September 30, 2021.

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Note: This document is an English translation of the original Japanese language document and has been prepared solely for reference purposes. No warranties or assurances are given regarding the accuracy or completeness of this English translation. In the event of any discrepancy between this English translation and the original Japanese language document, the original Japanese language document shall prevail in all respects.

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Consolidated Earnings Forecast for the Fiscal Year Ending September 30, 2021

				Net income
		Operating	Ordinary	(loss)
	Net sales	income	income	attributable
		(loss)	(loss)	to owners of
				parent
Previous forecast	Millions of	Millions of	Millions of	Millions of
(A)	yen	yen	yen	yen
Revised forecast	5,437	151	(80)	(78)
5,437	151	(120)	(118)
(B)
Difference	-	-	(40)	(40)
(B-A)
Difference (%)	-	-	-	-

Net income

(loss)

per share

yen (2.13)

yen (3.21)

Non-consolidated Earnings Forecast for the Fiscal Year Ending September 30, 2021
		Operating	Ordinary	Net income		Net income
	Net sales	income	income		(loss)
	(loss)
		(loss)	(loss)		per share
Previous forecast	Millions of	Millions of	Millions of	Millions of		yen
(A)	yen	yen	yen	yen
	(3.59)
	5,437	151	(59)	(132)
Revised forecast	5,437	151	(99)	(172)		yen
(B)		(4.67)
Difference	-	-	(40)	(40)
(B-A)
Difference (%)	-	-	-	-
(For reference)
Results for FY	4,007	(1,079)	(1,205)	(1,207)		(34.24)
2020.9

(Reason for the Revision)

Due to posting a non-operating expense of 40 millions of yen as arrangement fees and other expenses related to the aforementioned syndicated loan origination, the consolidated earnings forecast for the fiscal year ending September 30, 2021, originally announced on August 27, 2021, and the non-consolidated earnings forecast for the fiscal year ending September 30, 2021, originally announced on August 10, 2021, have been revised.

In the consolidated earnings forecast, the Company is expected to post a non-operating expense of millions of yen as arrangement fees and other expenses related to the syndicated loan origination which are not included in the previous forecast, resulting in an ordinary loss of 120 millions of yen and a net loss attributable to owners of parent

of 118 millions of yen.

For the same reason, The Company forecasts an ordinary loss of 99 millions yen and a net loss of 172 millions of yen on a non-consolidated basis.

(Note) The above forecasts are based on information available at the time of publication. Actual results, etc. may differ from forecast values due to various factors that may arise in the future.

End of document

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