 This presentation gives Panasonic’s consolidated financial results forthe second quarter of fiscal 2022 (FY22) ended September 30, 2021.

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 First, the summary of the consolidated financial results for the second quarterof FY22.
 Overall sales increased from the same quarter of FY21 due to increased salesof businesses for information and communication applications andAutomotive Batteries, which offset decreased sales of consumer electronics
and Automotive Solutions.
 Adjusted operating profit decreased.
This is largely affected by decreased sales of Automotive Solutions,decreased sales of consumer electronics business due to such factors as
weak overall demand in Japan and lockdowns at factories in Asia,
as well as raw material price hikes.
This occurred despite increased profit with increased sales in suchbusinesses as information and communication applications.
 On the other hand, operating profit and net profit increased due to recognitionof one-time gains in other income/loss.
 FCF was negative due mainly to the completion of Blue Yonder acquisition in
September 2021 and increased inventories.
 For the full-year forecast for FY22, both overall sales and profit are revised
upward.
 Upon the start of a new structure in October 2021, the full-year forecast basedon new segments is announced.
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1 I will explain the details of the consolidated financial results for thesecond quarter of FY22 from the next slide.

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2 This slide shows the consolidated financial results for the second quarterof FY22.
 Overall sales increased to 1,741.2 billion yen by 4% from the samequarter of FY21.
 Adjusted operating profit decreased to 80.3 billion yen by 14.7 billion yen.
 Other income/loss increased by 18.7 billon yen due to recognition of
one-time gains.
As a result, both operating profit and net profit increased.

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3 This slide shows the results by segment.

 I will explain the details in the next slide.

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4 This slide shows our sales analysis by segment.
 Overall sales increased due to increased sales of businesses for informationand communication applications of Industrial Solutions and Connected
Solutions, as well as Automotive Batteries. These offset decreased sales ofconsumer electronics impacted mainly by COVID-19, and AutomotiveSolutions.
 In Appliances, sales decreased due mainly to weak overall demand in Japanand the impact of lockdown of factories in Asia caused by re-spread of
COVID-19, while sales of such businesses as consumer electronics werestable in China.
 In Life Solutions, overall sales was the same level as FY21 due to steadily
increased sales of Housing Systems in Japan, despite decreased sales fromthe impact of lockdown of factories in Asia and semiconductor procurement
issues.
 In Connected Solutions, sales increased driven by increased sales ofmounting machines with strong demand related to information andcommunication, as well as increased sales of projectors.
 In Automotive, sales decreased in Automotive Solutions due to the impact of
reduced automotive production. On the other hand, sales increased in
Automotive Batteries responding to strong demand of cylindrical batteries.
 In Industrial Solutions, sales increased due to favorable sales of suchproducts as capacitors, relays and industrial-use motors for automotive, laborsaving at factories as well as information and communication infrastructure.
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5 This slide shows our operating profit analysis by segment.
 Overall adjusted operating profit decreased largely affected by decreased
sales of Automotive Solutions and consumer electronics, as well as raw
material price hikes, despite increased profit with increased sales in suchbusinesses as information and communication applications.
 Operating profit increased due to recognized gain from re-evaluation of theexisting 20% equity in Blue Yonder, upon the completion of acquisition.
 In Appliances, profit decreased largely impacted by decreased sales of
Heating & Cooling Solutions and Home Appliances due mainly to weakoverall demand in Japan and re-spread of COVID-19 in Asia, while such
efforts as rationalization were made amid continued raw material pricehikes.
 In Life Solutions, profit remained at same level as FY21: Efforts such as
rationalization were made in response to impact of raw material price hikes
and decreased sales due to semiconductor procurement issues.
 In Connected Solutions, profit increased due to increased sales ofmounting machines and projectors, as well as improved profitability ofAvionics.
 In Automotive, profit decreased in Automotive Solutions largely impacted bydecreased sales; Profit increased in Automotive Batteries due mainly toincreased sales and effect of rationalization.
 In Industrial Solutions, profit increased with increased sales exceeding
impact of raw material price hikes.
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6 Next, I will explain the impact from the completion of Blue Yonder acquisitionin September 2021.
 The consideration value related to the additional acquisition of 80% ofshares amounted to 776.0 billion yen. The total consideration value foracquiring all shares, by combining 87.3 billion yen for the 20% of sharesacquired in July 2020, amounted to 863.3 billion yen.
 Regarding the major impact on the consolidated financial performance
mainly in the second half of FY22, additional sales is estimated at
approximately 60.0 billion yen. Also, amortization of intangible assets iscurrently estimated at approximately 16.0 billion yen.
In addition, as I explained in the previous slide, in other income/loss of thesecond quarter of FY22, Panasonic recognized a gain of 58.3 billion yen
from the re-evaluation of the existing equity in Blue Yonder.

 The value of goodwill and intangible assets and others,
is currently estimated at approximately 960.0 billion yen.

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7 This slide shows the situation of FCF and cash positions in the firsthalf of FY22.
 FCF was a negative of 661.2 billion yen as shown on the left.
This is due mainly to the completion of Blue Yonder acquisition, tax
payment related to sales of assets in FY21 and increased inventories
from the end of FY21.
 Net cash decreased to a negative of 736.5 billion yen from 194.5
billion yen at the end of FY21 as shown on the right.
 The funds for the Blue Yonder acquisition were raised from reserved
cash of 376.0 billion yen and a bridge loan of 400.0 billion yen.
The bridge loan was already refinanced with the subordinated bonds,
issued in October 2021.
These are in accordance with the financing plan which we explainedat the time of announcement of the Blue Yonder acquisition on April23, 2021.

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8 Next, I will explain the acquisition of Blue Yonder in relation to ourcapital allocation policy in the current Mid-term strategy.
 Panasonic’s capital allocation policy for the three year period, fromFY20 to FY22, is to allocate necessary cash with cash flow generated
from businesses.
 The graph on the left shows cash situation for two year period of FY20
and FY21. With operating CF, sales of assets and reduction of leaseliabilities by portfolio optimization, we had generated excess funds ofapproximately 1 trillion yen.
776.0 billion yen for the acquisition of Blue Yonder was within thisrange.
 In addition, by financing 400.0 billion yen through subordinated bonds
for this acquisition, 200.0 billion yen, which is equivalent to 50% of theissued amount, was qualified for equity credit recognized by rating
agencies. Therefore, we are able to secure financial flexibility.
Regarding cash generation including operating CF, we will continue
with our efforts.

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9 From this slide, I will explain the full-year forecast for FY22.

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10 This slide shows the consolidated financial forecast for FY22.
 Both sales and profit are revised upward from the initial forecast.
 Sales is revised upward by 300.0 billion yen to 7,300.0 billion yen
reflecting the effect of exchange rates during the first half as well as
increased sales of Industrial Solutions and other businesses.

 Adjusted operating profit is revised upward by 10.0 billion yen to400.0 billion yen. This is due mainly to increased sales as well as
efforts in rationalization and cost reduction, which offset factors suchas the impact of raw material price hikes.
 Other income/loss is expected to improve by 30.0 billion yen.
This is due mainly to a gain from the re-evaluation of the existing
equity in Blue Yonder upon the acquisition.
 As a result, operating profit is revised upward to 370.0 billion yenwith an increase of 40.0 billion yen.
Net profit is revised upward to 240.0 billion yen with an increase of30.0 billion yen.
 ROE is expected at 8.9% and EBITDA at 750.0 billion yen.

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11 Revised forecasts by segment are shown on this slide.
 Upon the start of a new structure in October 2021, we are changing thereporting segments.
First, I will explain the full-year forecast based on the current segments.
 Major increase/decrease factors are shown on the next slide.

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12

In Appliances, sales is revised upward due to the effect of exchange rates. However, sales inreal terms is expected to decrease due to weak overall demand in Japan and Asia.
Adjusted operating profit is revised downward largely impacted by decreased sales due toweaker demand in Japan and lockdowns in Asia, despite cost-control and rationalization efforts
made in response to impact of raw material price hikes.

In Life Solutions, sales is revised upward due mainly to the effect of exchange rates.
Adjusted operating profit is slightly revised downward despite efforts such as rationalization
made in response to impact of raw material price hikes and semiconductor procurement issues.

In Connected Solutions, overall sales is revised upward due mainly to increased sales ofmounting machines and the consolidation of Blue Yonder. However, sales of notebook PCs andIFE (In Flight Entertainment) are expected to decrease.
Adjusted operating profit is revised downward largely impacted by decreased sales of notebook
PCs and IFE, despite increased sales of mounting machines and other products.

I will explain the situation of Automotive by each business separately: Automotive Solutions andAutomotive Batteries.
In Automotive Solutions, sales is revised downward due to reduced automobile production.
Adjusted operating profit is also revised downward due mainly to the impact of decreased sales,
as well as the price surges in parts and increased shipping costs.
In Automotive Batteries, sales is revised upward with increased demand of cylindrical batteries.
Adjusted operating profit is also revised upward with increased sales.

In Industrial Solutions, sales is revised upward with growth in businesses for labor-saving atfactories and information and communication applications. Adjusted operating profit is revised
upward with increased sales exceeding the impact of raw material price hikes.

In Head office/eliminations, etc., profit improvement is expected due mainly to reduced
expenses related to head office.

In other income/loss, we factored in a gain from re-evaluation of existing equity in Blue Yonder
upon acquisition and increased expenses associated with the early retirement benefit program.

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13 Now I will explain the new reporting segments.

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14 In accordance with the transition to a new structure in October 2021, weare changing the reporting segments. This slide outlines the changes andhow the businesses of the current segments will be reorganized.
 “Lifestyle” segment comprises 5 divisional companies based on current
Appliances and Life Solutions.
 Automotive Solutions business of current Automotive will be transferred tothe new “Automotive” segment.
 The current Connected Solutions will be transferred with no change to the“Connect” segment.
 The new “Industry” segment comprises Electromechanical Control,Industrial Device, Device Solutions, and Electronic Materials businesses ofthe current Industry Solutions.
 “Energy” segment comprises Automotive Batteries business of current
Automotive, Energy Solutions and Energy Device businesses of current
Industrial Solutions.
 The “Other” comprises Entertainment & Communication and Housingbusinesses due to their business sizes.
 The next slide shows figures according to this organizational chart.

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15 This slide shows the forecast figures reclassified to conform to thepresentation based on new segments.
 From the third quarter of FY22 onward, financial results will bereported based on the 5 new segments.

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16 This slide shows the forecast of Lifestyle segment by divisionalcompany.
 Going forward, our reporting will include the disclosure of the figuresof 5 businesses within Lifestyle.

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17


Next, this slide explains our initiatives responding to various changes in the businessenvironment triggered by COVID-19.
As I explained in the summary, temporary setbacks, such as factory lockdowns and reduced
automobile production, in addition to such more potentially long-term issues as raw material
price hikes are happening in the current business environment.
We will respond by thoroughly enhancing our operational capabilities through the following:
strengthening production cost competitiveness through such initiatives as rationalization,
making appropriate cost control efforts according to sales increases and decreases, andimproving cash flow by reducing inventories.
At the same time, new business opportunities are emerging:
Expanding investment demand in information and communication infrastructure as well aslabor-saving at factories, expanding EV demand, growing needs to improve supply chain
management, and changes in lifestyle.
We will respond by steadily capturing such expanding demand at each business.
In Industry, we aim to expand the sales of key products, such as capacitors and industrialuse motors.
In Energy, we will respond to expanding EV demand. With a new production line installed inNorth America, we expanded our production capacity equivalent to 50GWh, combining
Japan and U.S. capacity.
Regarding 4680 cells, we will accelerate R&D. Equipment for prototype production isscheduled for installation in FY22.
In Connect, we aim to globally provide solutions to our customer’s management issues,
mainly through Blue Yonder’s initiatives in supply chain management.
In Lifestyle, we launched “my spec” products, which enable consumers to add and selectfunctions after their purchases according to their lifestyles. We will continue to develop
products and services that respond to changes in lifestyle and contribute to solving suchsocietal issues as saving energy and reducing food waste.

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18 Finally, this slide shows our planned schedule for IR activities goingforward.
 On October 1, 2021, we started our new structure based on a neworganization. As for disclosure, financial results will be announced
based on new segments from the third quarter of FY22.

 A briefing on sustainability hosted by Group CEO Kusumi anda briefing on supply chain management-related business byConnect segment are scheduled for the second half of FY22.

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19 Thank you very much for your kind attention.

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