 This presentation gives Panasonic’s consolidated financial results
for the first quarter of fiscal 2022 (FY22) ended June 30, 2021.

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 First, the summary of the consolidated financial results for the first quarterof FY22.
 Overall sales increased from the same quarter of FY21 due to the recoveryof sales from the COVID-19 impact in Automotive and Appliances, as well
as sales growth in Industrial Solutions.
 Adjusted operating profit increased significantly from the loss in FY21 1Q,
due to increased sales as well as controlled costs according to the businessconditions.
 Operating profit and net profit increased, despite the impact of one-time
gains in other income/loss in FY21 1Q.

 FCF improved significantly from the negative in FY21 1Q by reaching asecure level of net profit, as well as by improving working capital, whichmore than offset inventory increase caused by semiconductor shortages
and other factors.

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1 This shows the consolidated financial results for the first quarter of FY22.
 Overall sales increased to 1,792.4 billion yen by 400.5 billion yen
from the same quarter of FY21.
 Adjusted operating profit increased to 119.5 billion yen
from a loss of 5.9 billion yen in FY21 1Q, which is an increase of
125.4 billion yen.

 Operating profit was 104.4 billion yen, and net profit was 76.5 billion yen.
Both showed increases.

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2 This slide shows our sales analysis by business.
 Overall sales increased by 400.5 billion yen (+29%).
 Among the increase, 175.5 billion was achieved by sales growth ofbusinesses that captured opportunities reflecting changes in society, suchas air-conditioning and indoor air quality, home appliances, automotivebatteries as well as products for information- and communicationinfrastructure usage, following FY21.
 In addition, sales in businesses such as Automotive Solutions and Smart
Life Network recovered from FY21 1Q, largely impacted by COVID-19.

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3 This slide shows our operating profit analysis by business.
 Adjusted operating profit increased by 125.4 billion yen,driven by businesses with increased sales, as previously explained.
 Among the increase, profit from businesses that captured
opportunities reflecting changes in society increased by 61.3 billion
yen, which accounts for approximately half of the increase.
 Operating profit in FY22 increased by 100.6 billion yen overall,resulting from the increase in adjusted operating profit,
despite such an impact as one-time gains from the establishment ofa joint venture in FY21 in other income/loss.

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4 This slide shows the results by segment.

 As shown, sales increased in all segments.
Adjusted operating profit and operating profit also increased in allsegments.
 I will explain the details in the next slide.
 From this quarter, we are additionally reporting EBITDA figures,as shown on the right.

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5 This slide shows major increase/decrease factors by segment.
 In Appliances, sales and profit increased.
This is due to stable sales of Home Appliances and Heating and CoolingSolutions, as well as efforts in cost-reductions, including the control of sales
promotion expenses, surpassing the impact of raw material price hikes.
 In Life Solutions, sales and profit increased.
This is due mainly to favorable sales of wiring devices in Japan and overseas
reflecting market recovery, despite the impact of raw material price hikes.
 In Connected Solutions, sales increased, driven by Process Automation, withfavorable sales of mounting machines due to growing demand for ICT terminals
and 5G-related equipment.
Profit increased due to increased sales as well as the effects of fixed-cost
reductions in Avionics.
 In Automotive, sales and profit increased overall.
Sales and profit increased in Automotive Solutions, with growth mainly in
IVI (In Vehicle Infotainment) with recovery in the automobile market, andincreased also in Automotive Batteries with growing demand.
 In Industrial Solutions, sales increased with favorable sales of capacitors forautomotive use, industrial-use motors for labor-saving at factories, and power
storage systems for ICT infrastructure. All of these factors surpass the impact of
the semiconductor business transfer.
Profit increased due mainly to increased sales as well as productivityimprovement.
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6 Now, I will explain how much our profitability structure has changed
in comparison to FY20 1Q, before the outbreak of COVID-19, using
four slides.
 First, a comparison from the Company-wide perspective.
 As shown on the right, FY22 1Q sales recovered to approximately
1,790 billion yen. This would be nearly the same level as FY20 1Q
if we made a comparison by excluding approximately 100 billion yenof deconsolidation impact such as housing business.

 In terms of adjusted operating profit, profitability has significantly
improved from 3.3% in FY20 (62.4 billion yen) to 6.7% in FY22(119.5 billion yen), although sales was at the same level.
 We believe our steady progress in business portfolio reform andmanagement structure enhancement under the current Mid-term
strategy is reflected in these figures.

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7 Next, a comparison of adjusted operating profit by segment.

 The graph on the left shows how profit amount has transitioned,
and the graph on the right shows how profitability has transitioned.
 Profit amount and profitability exceeded those figures of FY20 in allsegments except for Connected Solutions, with persisting COVID-19impact.
 In particular, Appliances and Industrial Solutions drove Companywide growth in both absolute amount of profit and profitability.
 In the following slides, I will explain the details of initiatives taken atthese two segments.

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8 Firstly, Appliances, comparing FY22 1Q to FY20 1Q.
 The upper left part of this slide shows the sales composition ratio, comparing
FY22 to FY20. For the past two years, we have promoted business portfolio
reform, and made progress in shifting the business structure to Home
Appliances, where we are competitive.
 As a result, in terms of adjusted operating profit for Appliances overall,both the amount and profitability have improved.
 The graph at the upper right shows major increase/decrease factors, from theperspectives of business and region.
 Home Appliances drove increased profit in Japan and China. In particular, inChina, sales increased almost by 40% compared to FY20 1Q, in real terms
excluding exchange rates, mainly with refrigerators.
 In Europe, A2W (Air to Water), or our hot water heat pump system, performed
favorably, approximately 2.3 times in real terms.
 Smart Life Network achieved increased profit despite decreased sales,through structural reform and other measures.
 The lower right area shows our initiatives in the China and Northeast Asia
region as examples of efforts to enhance competitiveness,
which CEO Kusumi emphasized at the CEO briefing in May 2021.
 We have achieved increased sales and profit through by responding toChina’s expanding e-commerce and online market, as well asenhancing product competitiveness through such efforts as to lower
manufacturing costs.
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9 Next, Industrial Solutions.
 Even under COVID-19 circumstances, sales grew stably, and the CAGR
(Compound Annual Growth Rate) from FY20 1Q to FY22 1Q was 4.6%.
 The graph at the lower left shows adjusted operating profit.
The margin for Industrial Solutions total has improved to 9.7% from2.1% in FY20 1Q. If we count only the products manufactured byIndustrial Solutions (IS Company Products,) we achieved a double-digit
adjusted operating profit margin at 11%.
 This improvement is due to increased sales of key products and steadyprogress in business portfolio reform and management structureenhancement.
 In particular, sales increased significantly for key products with growing
demand for ICT-infrastructure usage as well as by thoroughly enhancing
product capability in such products as conductive polymer electrolytic
capacitors, power storage systems, and industrial-use motors.
 In addition, portfolio reforms such as transfer of semiconductor business andreducing operation of LCD panel business, as well as management structureenhancement such as improving productivity, have contributed to increased
profit and improved profitability.

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10 Next, I will explain the situation of FCF and cash positions.

 As shown on the left, we generated 71.1 billion yen of FCF,
mainly by reaching a secure level of net profit, as well as
improving working capital, which more than offset the increase ininventory caused by semiconductor shortages and other factors.
 FCF improved significantly from the negative in FY21 1Q impacted
by COVID-19.
 The graph on the right describes our cash positions.

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11 This slide shows the progress made in key initiatives set in the Mid-term strategy,
during the first quarter of FY22.
 In terms of management structure enhancement, a total of 15.0 billion yen
contributed to profit improvement, which included 8.0 billion yen in fixed-cost
reductions and 7.0 billion yen in reduced losses in “businesses with loss-makingstructures.” We are making steady progress toward the full-year target of 20.0 billion yen.

 Furthermore, in terms of businesses with loss-making structures, toward 2H,
we expect the amount of loss to increase compared to FY21, particularly in theLCD panel business, resulting from termination of production.
Therefore, our full-year forecast of zero (0) remains unchanged.
 In terms of business portfolio reform, we have already announced that we will
make Blue Yonder a wholly-owned subsidiary as an investment for growth.
The process toward completion by FY22 3Q is underway according to plan.
 In Automotive Batteries, the new production line in the North America factory isexpected to start operations in August 2021.

 Finally, with regard to the profitability improvement of automotive business,
as previously explained, adjusted operating profit increased to 11.2 billion yen,which is an improvement of over 40.0 billion yen from FY21 1Q, mainly withcontributions from increased sales.
 In conclusion, we are making steady progress toward the full-year target of50.0 billion yen.
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12 Now I will explain the 1Q results compared with initial expectations.
 The graph on the left shows adjusted operating profit in 1Q.
 The vertical axis shows the comparison to initial expectations and the horizontal
axis shows the difference from FY21.
1Q showed steady results overall, mainly with Industrial Solutions andConnected Solutions, and other businesses almost in line with expectations.
 On the right, we analyze both the positive factors and the risks we should
consider for the future business environment from the perspective of the impact
on our performance.
 As positive factors, we can expect continuous expansion of investment demandin information- and communication-infrastructure and labor-saving at factories,
mainly impacting Industrial Solutions.
 On the other hand, as uncertainties and risks, we assume a persistent impact
on automobile production due mainly to semiconductor shortages, delays inlogistics resulting from port congestion, and lockdowns at factories or othersites due to the re-spread of COVID-19.
 In addition, while raw material price hikes, including copper, and procurement
difficulties are becoming apparent, we will take countermeasures such as
material rationalization to offset such impact.
 Nonetheless, we will enhance our overall cost-control capability in response tothese uncertainties and risks, maintain the favorable results of 1Q, and thus
aim to reach above the level of the FY22 full-year forecast overall.
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13 This slide shows our planned schedule for IR activities going forward.
 At the General Meeting of Shareholders held June 2021,
the company-split agreement for the new Group structure to start in
April 2022 was approved.
 In October 2021, we will transition to a virtual structure based on
today’s announcement regarding the new structure.
For further details, please refer to the IR website:
https://www.panasonic.com/global/corporate/ir/relevant.html
Release dated July 29, 2021:“Panasonic Announces Group’s New Structure and Personnel
Changes on Executive Officers and Others Effective October 1, 2021”
 As for disclosure, the announcement of results will be made based on
new reportable segments from FY22 3Q.
In addition, we plan to hold briefings on individual businesses andESG-related topics.

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14 Thank you very much for your kind attention.

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