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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Takeda Announces Candidates for Board of Directors
at Upcoming Shareholders Meeting

OSAKA, Japan, March 27, 2024, and CAMBRIDGE, Massachusetts, March 26, 2024 - Takeda (TSE:4502/NYSE:TAK) today announced that its Board of Directors decided on March 26, 2024 (CET) to propose candidates for Board of Directors at the 148th Ordinary General Meeting of Shareholders to be held on June 26, 2024.

Mr. Milano Furuta, currently president of the Japan Pharma Business Unit (JPBU), will succeed Mr. Constantine Saroukos as chief financial officer (CFO) effective April 1, 2024. Takeda will propose Mr. Furuta as a new candidate for board director at the Ordinary General Meeting of Shareholders. If approved by shareholders, Mr. Furuta will join the Board effective June 26, 2024.

Mr. Constantine Saroukos, who expressed his intention to retire as CFO, will leave the Board on June 26, 2024 upon the expiration of his term.

The tenure for non-Audit and Supervisory Committee director is one year.

The tenure for Audit and Supervisory Committee director is two years.

Note:

1.The role of the directors will be determined at the Board of Directors meeting and the Audit and Supervisory Committee meeting to be held after the 148th Ordinary General Meeting of Shareholders.

2.The members of the Nomination Committee and Compensation Committee will be discussed and determined at the Board of Directors meeting to be held after the 148th Ordinary General Meeting of Shareholders.

3.Ms. Asuka Miyabashira, currently head of the Neuroscience Business Unit within JPBU, will assume the role of president of JPBU, effective April 1, 2024.

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.

Media Contacts:

Global Media

Brendan Jennings

brendan.jennings@takeda.com

+81 80-2705-8259

For the purposes of this notice, “press release” means this document, any oral presentation, any question and answer session and any written or oral material discussed or distributed by Takeda Pharmaceutical Company Limited (“Takeda”) regarding this release. This press release (including any oral briefing and any question-and-answer in connection with it) is not intended to, and does not constitute, represent or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, exchange, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction. No shares or other securities are being offered to the public by means of this press release. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. This press release is being given (together with any further information which may be provided to the recipient) on the condition that it is for use by the recipient for information purposes only (and not for the evaluation of any investment, acquisition, disposal or any other transaction). Any failure to comply with these restrictions may constitute a violation of applicable securities laws.

The companies in which Takeda directly and indirectly owns investments are separate entities. In this press release, “Takeda” is sometimes used for convenience where references are made to Takeda and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

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