 This presentation gives the consolidated financial results for fiscal 2022
(FY22) ended March 31, 2022, and the financial forecast for fiscal 2023
(FY23) ending March 31, 2023.

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 First, the summary of the consolidated financial results for FY22.

 FY22 sales increased from FY21 with increased sales of Industry and Energy,
due to growth in information & communication, automotive-relatedapplications, as well as the new consolidation of Blue Yonder.
 Adjusted operating profit increased with our efforts to revise prices, as wellas increased sales of Industry and Energy, despite raw material price hikes
that affected Lifestyle, along with temporary negative factors such as theimpact of temporary accounting treatment related to “re-evaluation of assets
and liabilities” upon Blue Yonder acquisition.
Operating profit and net profit also increased, and ROE improved over FY21.
 For the FY23 financial forecast, both sales and profit are expected toincrease, following FY22.
 Sales is expected to significantly grow, due mainly to recovery in demand.
 Groupwide profit is also expected to increase.
In particular, sales is expected to significantly increase in Automotive, withthe recovery of automobile production, and Connect, with the recovery of
demand in the aviation industry, despite expected profit decrease in Energy,
due mainly to increased expenses for future growth such as development of4680 cells.
 We will continue with countermeasures, such as price revisions, against thedeteriorating business environment, including price hikes in raw materials.
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1 I will explain the details of the consolidated financial results for FY22
from the next slide.

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2 This shows the consolidated financial results for FY22.
 Overall sales increased to 7,388.8 billion yen by 10% from FY21.
 Adjusted operating profit increased to 357.7 billion yen by 50.5 billion
yen from FY21.
Other income/loss improved by 48.4 billion yen. Operating profit andnet profit also increased.
 As for the differences from the forecast, as of February 2, 2022,
adjusted operating profit and operating profit were below the forecast,
but net profit exceeded the forecast.
 ROE improved to 8.9% from FY21.

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3 This slide shows the results by segment.
 I will explain the analysis of comparison with FY21 in the next slides.
 As for the differences in adjusted operating profit from the forecast,as of February 2, 2022, Industry and Energy exceeded the forecast,although Lifestyle was below the forecast, due mainly to the impactof raw material price hikes.
As a result, the Groupwide adjusted operating profit was slightly
below the forecast.

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4 This slide shows our sales analysis by segment. Overall sales increased.
 In Lifestyle, overall sales was at the same level as FY21.
Despite the impact of FY21 stay-at-home demand in Japan for such products asroom air-conditioners, refrigerators and washing machines, sales steadily increased ingrowth businesses:- Air-conditioning in Europe,- Electrical construction materials in overseas markets,- Consumer electronics such as washing machines and refrigerators in China, and- Commercial refrigeration & food equipment in North America
Accordingly, sales of Lifestyle products increased. However, sales of other segment products
decreased.
 In Automotive, sales was at the same level as FY21 due to reduced automobile production in
2Q and onward, despite automobile production recovery seen in 1Q.
 In Connect, increased sales were driven by mounting machines reflecting favorable market
conditions of EVs and information & communication infrastructure, increased sales ofprojectors mainly in Europe & US, as well as the new consolidation of Blue Yonder.
 In Industry, sales increased due to increased sales of such products as industrial-use motors,
capacitors for information & communication infrastructure and automotive-use as well as EVuse relays.
 In Energy, sales significantly increased in automotive batteries reflecting robust EV demand,
operation of a new production line in North America and a rebound effect from the FY21
COVID-19 impact. In addition, there was sales growth in such products as power storage
systems for data centers.
 Within Other/Eliminations, in Entertainment & Communication, sales decreased due to theimpact of component procurement issues including semiconductors.
In Housing, sales increased with the launch of new products for the “new normal” andaccelerated digital marketing.
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5 This slide shows our operating profit analysis by segment.
Overall adjusted operating profit increased.
 In Lifestyle, profit decreased, largely affected by raw material price hikes, parts &materials procurement issues, the impact from FY21 stay-at-home demand inJapan, and the recording of temporary expenses, despite increased sales and pricerevisions overseas and promoting such efforts as rationalization in each business.
 In Automotive, profit increased due to cost reduction efforts and the impact ofrecording temporary expenses related to onboard charging systems in FY21,
despite surging parts & materials costs including semiconductors, and shippingcosts.
 In Connect, profit increased due to increased sales of mounting machines &projectors and improved profitability of Avionics, despite the impact of temporary
accounting treatment related to “re-evaluation of assets and liabilities” upon Blue
Yonder acquisition.
 In Industry, profit increased due mainly to increased sales, price revisions andrationalization efforts which offset the impact of semiconductor shortages and raw
material price hikes.
 In Energy, profit increased due mainly to increased sales of automotive batteries
and power storage systems as well as our efforts such as rationalization and pricerevisions, despite the impact from raw material price hikes and increased fixed
costs for increased production.
 As for Other income/loss, profit increased due mainly to the gain from re-evaluationof existing equity in Blue Yonder upon new consolidation and sale of assets.
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6This slide shows the results of Lifestyle by divisional company.
As shown in the chart, adjusted operating profit decreased at all divisional
companies. I will explain each of the major factors.

In Living Appliances and Solutions Company, profit decreased due to decreased
sales affected by the FY21 stay-at-home demand in Japan and price hikes in raw
materials and logistics. On the other hand, sales increased in China and Asia forsuch products as washing machines and refrigerators.
In Heating & Ventilation A/C Company, sales increased due to stable sales of theair-conditioning business in Europe, despite decreased sales of air purifiers androom air-conditioners in Japan due mainly to impact of increased demand in FY21.
On the other hand, profit decreased due to price hikes in raw materials andlogistics, flooding in Malaysia, and the recording of temporary expenses.
In Cold Chain Solutions Company, sales increased significantly, mainly in North
America, even against the headwinds of raw material price hikes and procurement
issues. This contributed to reducing the losses from FY21, however, overall profit
decreased due to the recording of temporary expenses.
In Electric Works Company, profit decreased due to raw material price hikes,
despite increased sales with the stable electrical construction materials businessoverseas, such as that in India, even while facing parts & materials procurement
issues.
We will continue taking countermeasures against price hikes in raw materials andlogistics, such as price revisions, replacement of current materials with alternatives,and rationalization of parts & materials through collaboration between China andJapan.

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7 This slide shows our operating profit analysis.
 First, profit generated from sales expansion increased by 130.0 billion yen.
Fixed costs was a decrease factor of 34.0 billion yen overall due toincreased production, despite 21.0 billion yen of improvement throughmanagement structure enhancement which was promoted during theprevious Mid-term strategy.
 Price hikes in raw materials and logistics were together a decrease factorof 160.0 billion yen. However, we revised prices to counter the situation.
This effect of 44.0 billion yen is included within the rationalization effect of
121.3 billion yen.
 Temporary factors, including new consolidation of Blue Yonder andtemporary expenses recorded in Lifestyle, were a decrease factor totaling
11.3 billion yen.
The effect of exchange rates was an increase factor of 4.5 billion yen.
Therefore, the overall adjusted operating profit was an increase of
50.5 billion yen.
 Other income/loss was an increase factor of 48.4 billion yen,
due to one-off gains.
Consequently, operating profit was an increase of 98.9 billion yen.

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8 This slide shows the situation of FCF and cash positions in FY22.
 On the left, FCF was a negative of 543.5 billion yen. This is due to theacquisition of Blue Yonder as well as deterioration of working capital due
mainly to external factors such as port congestion and increased
inventories by strategically securing parts & materials.
 On the right, net cash decreased from 194.5 billion yen at the end ofFY21 to a negative of 649.0 billion yen.

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9This slide shows the situation of capital allocation during the period ofFY20 to FY22.



In the previous Mid-term strategy, our capital allocation policy was toallocate the necessary cash with cash flow generated from businesses toestablish a strong financial base necessary for growth investment andstructural reform.

In line with this policy, we have managed the necessary cash for growthinvestment, including the acquisition of Blue Yonder, as well as dividends
and structural reform. Cash generation was achieved mainly throughoperating cash flow, transfer of business and sale of assets.
As a result, excess cash as a three-year total amounted to approximately
160.0 billion yen and our net cash position has improved compared to thebeginning of FY20.

We believe that we maintained financial discipline, and, at the same time,captured growth opportunities.

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10 I will explain the consolidated financial forecast for FY23 from thenext slide.

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11 For the consolidated financial forecast for FY23, both sales and profit areexpected to increase.
 Sales is expected to increase by 511.2 billion yen to 7,900.0 billion yen.
Adjusted operating profit is expected to increased by 22.3 billion yen to380.0 billion yen.
 Operating profit is expected to increase to 360.0 billion yen andnet profit is also expected to increase to 260.0 billion yen.

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12 Next, this slide explains our FY23 outlook regarding the impact from changes in thebusiness environment.
 This chart shows, at-a-glance, the impact on each segment by the changes indemand, shortages of semiconductors, parts & materials, and price hikes in raw
materials and logistics.
The light-blue-shaded areas show factors with positive impact compared to FY22.
The light-red-shaded areas, a negative impact.
 For the changes in demand, Automotive and Connect expect to see demand recovery.
Industry and Energy expect continuously favorable sales.
 For shortages of semiconductors and parts & materials, the overall impact isexpected to lessen due mainly to the procurement of alternative materials.
But this impact is expected to continue in Connect.
 For the price hikes in raw materials and logistics, we will try to mitigate this impact
through such efforts as price revisions. However, the impact is expected to persist in
Lifestyle and Energy. Regarding the situation of Energy, the impact of sharp pricehikes in raw materials in FY22 4Q and onward is expected to remain in the first half of
FY23. But we expect to mitigate this impact in the second half of FY23 through such
efforts as price revisions and rationalization.
 As explained above, the situation of shortages in semiconductors and parts &materials seems to be improving, but due to the Russia and Ukraine situation, ourassumption is that the impact of raw material price hikes will expand.
As for the impact from lockdowns due to COVID-19, it is currently difficult to estimate
its size, but for the changes in the business environment, we will continue to closely
monitor the situation and take effective measures to deal with such changes.
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13 This slide shows our analysis of the FY23 operating profit forecast.
 First, profit generated from sales expansion is expected to increase by110.0 billion yen.
Fixed cost is expected to become a decrease factor of 40.0 billion yen,increasing due mainly to investment for future growth.
 The impact of price hikes in raw materials and logistics is expected tobecome a decrease factor of 180.0 billion yen, considering the expanding
impact involving the situation in Russia and Ukraine.
We will continue to counter this situation with price revisions.
This expected effect of 95.0 billion yen is included within the rationalization
effect of 135.0 billion yen.
 The temporary factors are expected to improve by 12.3 billion yen from
FY22 negative factors.
The effect of exchange rates are expected to be a negative factor of
15.0 billion yen due to the expanding impact of the depreciation of yen
against the Renminbi.
As a result, adjusted operating profit is expected to increase by 22.3 billionyen.
 Other income/loss is expected to decrease by 19.8 billion yen due mainly tothe impact of one-off gains in FY22.
Accordingly, operating profit is expected to increase by 2.5 billion yen.

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14 This slide shows the forecast by segment.
 I will explain the details in the next slide.

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15 First, our sales forecast analysis by segment.
 Overall sales is expected to significantly grow.
 In Lifestyle, sales is expected to increase by focusing on growth businesses
such as- Air-conditioning in Europe,- Electrical construction materials and consumer electronics in overseasmarkets.
 In Automotive, sales is expected to increase due to the expectations forautomobile production recovery.
 In Connect, sales is expected to increase due to sales growth in Avionics,
reflecting a market recovery trend and growth in products such as projectors,
as well as the effect of Blue Yonder being consolidated for the full year.
 In Industry, sales is expected to remain at the same level as FY22.
This is due to decreased sales of other segment products despite increased
sales of Panasonic Industry’s products for information & communication andautomotive-use.
 In Energy, sales is expected to increase due mainly to increased sales ofautomotive batteries with the continuously growing demand, and increased
sales of power storage systems for data centers.

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16 Next, our operating profit forecast analysis by segment.
Overall adjusted operating profit is expected to increase.
 In Lifestyle, profit is expected to increase due to the increased sales ofoverseas business, partial recovery from parts & components procurement
issues in the Electric Works Company, as well as the effect of price revision& rationalization efforts to counter raw material price hikes.
 In Automotive, profit is expected to increase due to increased sales, theeffect of cost reduction efforts and the effect of price revision efforts tocounter surging costs of parts & components, despite price hikes in parts &components such as semiconductors, increased shipping costs, as well asincreased fixed costs from increased production, and investments made toenhance management structure.
 In Connect, profit is expected to increase due mainly to increased sales ofAvionics.
 In Industry, profit is expected to increase due to increased sales ofPanasonic Industry’s products despite the impact of raw material price hikes.
 In Energy, profit is expected to decrease overall due to increased expenses
for future growth such as the development of 4680 cells.
We will mitigate the impact of sharp price hikes in raw materials, which
continues from FY22 4Q, through price revisions and rationalization efforts
by the second half of FY23. But the impact is expected to persist for the fullyear. We will try to offset this impact by increased sales.
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17 This slide shows the forecast for the Lifestyle segment by divisional
company.
 Adjusted operating profit is expected to increase at all divisional
companies.
 Cold Chain Solutions Company is expected to record a loss.
This is due to factoring in certain risks, anticipating the need to takedrastic measures for its operations in China.

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18 Finally, this slide shows an overview of IR Day, which is scheduled forJune 1 and 2, 2022.
 On April 1, 2022, Group CEO Kusumi announced the Groupwide
medium- to long-term strategy.
At IR Day, the CEO of each operating company will explain its individual
business strategy.
As for the new Panasonic Corporation, or Lifestyle segment, details will
be explained by the management of each divisional company.
 We look forward to your participation in this two-day event.

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19 Thank you very much for your kind attention.

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