Mid Term Business Plan (2024-2026)- 24MBP -Member of the Board
Global CEO and Representative
Executive Officer
Bridgestone Corporation

Shu Ishibashi
March 1, 2024

Today’s agenda

2/44Part 1:

24MBP New & true glocal portfolio management

Part 2:

24MBP Business shaping scenario

Part 3:

24MBP R&D and Manufacturing / Technology innovation

Part 1:
24MBP New & true glocal portfolio management

21MBP Review

3/44

Summary of financial results for fiscal 2023 (vs. 21MBP targets) Not yet returned to a “strong” Bridgestone capable of adapting to change:
Landed below full-year forecast announced Feb. 2023

Improve sensitivity to monitor signals & agilely adapt to changes, and quality & speed of PDCA cycles

Currency
exchange

121 JPY
134 JPY

USD
EUR

107 JPY
122 JPY

Adj. Operating5,500
517.2
Profit Margin [%]
4,500
3,500

12.1%
9.8%
343.1

2,500

2015

110 JPY
130 JPY

132 JPY
138 JPY

141 JPY 123 JPY
152 JPY 133 JPY

21MBP

13.6%

7,500
Adj. Operating
Profit [B JPY] 6,500

1,500

109 JPY
122 JPY

2019

7.7%

394.3

11.7%
482.6

14.0%

11.1%

480.6

Revenue

12.3%

13.0%

B JPY

2022

2023

level

480.6 B JPY

10.0%
9.0%

Adj. Operating
Profit Margin

13% level

11.1%

8.0%

ROIC

10% level

8.7%

ROE

12% level

10.4%

Profit fromcontinuing operations

290 B JPYlevel

326.9 B JPY

Continuous
improvement

200 JPY (plan)

6.0%

Announced
Feb. 2023

3,507.2

2,695.2

3,246.1

4,110.1

4,313.8 4,150.0

Profit from continuing
operations [B JPY]

284.3

240.1

-19.8

307.9

305.4

326.9 340.0•

Profit margin fromcontinuing operations [%]

7.5%

6.8%

-0.7%

9.5%

7.4%

7.6% 8.2%•

Dividend per share
[JPY]

130

160

110

170

175

200 (plan) 200

ROIC
ROE

4/44

14.7％
13.3％

7.4%
10.0%

5.1%
-0.9%

9.0%
12.9%

9.4%
10.9%

8.7% 10.5%
10.4% 11.4%

4,313.8 B JPY

level

450 B JPY

3,790.3

Revenue [B JPY]

3,300 B JPY

Adj. Operating
Profit7.0%

2021

2023 Results

12.0%

510.0 11.0%

207.4
2020

21MBP (announced Feb. 2021)
2023

Dividend per share

Including tailwind from currency exchange, achieved
revenue, adj. operating profit and net profit amount
Adj. operating profit margin and ROIC were below targets.
Unable to achieve improvement in business quality.
⇒Remaining issue for 2024

Performance by business portfolio for 2023 – final year of the 21MBP
Not yet returned to a “strong” Bridgestone capable of adapting to change

Premium tire business
Revenue

Adj. Operating
ProfitAdj. Operating
Profit Margin

2,921.5
400.7

B JPY

B JPY

13.7

%

102%
of PY

96%
of PY

(1)pp
vs. PY

Diversified products business
Revenue

5/44

298.4 B JPY

Solutions businessCore business

107%
of PY

Adj. Operating
Profit13.2 B JPY

139%

Adj. Operating
Profit Margin

4.4%

+1pp

of PY

vs. PY64%

2023

Revenue portion

Revenue

Adj. Operating
ProfitAdj. Operating
Profit Margin

Revenue

4,313.8 B JPY 29%
105% of PY

480.6 B JPY
100% of PY

11.1%(0.6)pp vs. PY

Revenue portion

Adj. Operating
ProfitAdj. Operating
Profit Margin

7%

B JPY

72.2

114%
of PY

122%

B JPY

of PY

5.5

+0.3pp%vs. PY

Retread994 B JPY

Revenue(113% of PY )Adj. Operating
Profit Margin

Revenue portion

1,323.7

RetailRevenue*incl. revenueof retail tires

Growth business5.1%((0.6)pp vs. PY )153.7 B JPY(115% of PY )Adj. Operating
Profit Margin

17.2%(+2.5pp vs. PY )• Retail in the U.S.: Solid profit increase vs. prior year
• Retail in Europe: Profit decrease vs. prior year－Promote restructuring in 2024

Toward “true next stage” - Remaining issues for 21MBP & New issues for 2024
 Have a clear view/direction on solving remaining issues in 2024 and move to“true next stage”

in 2025 and 2026

 Return to a “strong” Bridgestone capable of adapting to change ⇒ Not yet returned Complete laying the foundation for premium enhancement and evolution with solutions business
21MBP
Remainingissues• Laying foundation for premium enhancement ⇒ Completed: Reinforced structure to “produce & sell” premium tires
Executed strategic growth investments even in the challenging business environment and promoted premium tire reinforcement globally.
In the U.S., despite a difficult performance in 2023, the foundation for premium enhancement of PS HRD tires & TB* retread was solid.
• Linkage with solutions business ⇒ Partially achieved: 21MBP – With setback in solutions for consumer tires, clarified “what to do” & ”what not to do”.
Decision to promote mainly retail & service as well as commercial BtoB solutions in 24MBP.

 Lack of understanding regarding Bridgestone DNA⇒ Need to re-enhance. Regional/partial optimization remain.Quality of management varies among
regions and functions, need to improve globally Management quality and working & business quality (Globally, incl. N. America & Europe):
Lack of understanding regarding Bridgestone DNA• PDCA / WHY-WHY-WHY analysis / steady basic operations• Ensure 3S “Seiri (Select & remove), Seiton (Sort), Seiso (Keep clean)”+ Seiketsu (Standardize) and Shitsuke (Sustain)• Monitoring signals and risk sensibility / PDCA to follow up on investments• Business & sales management / Improve accuracy in demand, sales, and business performance forecasts

2024
New
issues(especially in N. America) Restructure & rebuild management and channel foundations for the European business・ Improve profitability of retail, TB, and retread
・ Deterioration of the economy exposed weakness in foundation

 Restructure & rebuild the China business: Withdraw TB business and strengthen PS premium focus
 Restructure the Thailand business and REP channel in Japan
 Insufficient “earning power”

・ In the challenging business environment,
continue reinforcing investment while staying attentive & lean in 2024
・ Resource: Thoroughly select injection for 2024, but continue reinforcing strategic investments mainly
around premium tires*PS: Passenger car tires, TB: Truck & bus tires, HRD: high rim diameter

6/44

Reinforcebusiness quality(Globally, incl.
N. America & Europe)

2nd stage ofrestructuring& rebuilding

Further focus onvalue creation
Creation of “new premium”

Reinforce & shift tomanagement respecting
being on-site (genba)
in each area
47 areas
Introduce
new talent & schemes
to reinforce “business
management” & “on-site(Genbutsu-Genba)” activities
in N. America & Europe

Part 1:
24MBP New & true glocal portfolio management

Positioning of the 24MBP with the“2030 Long Term Strategic Aspiration” as roadmap

7/44

Changes from the 2030 Long Term Strategic Aspiration to the 24MBP
2030 Long Term Strategic Aspiration

24MBP”Passion for Excellence"

21MBP

27MBP

2030 Long Term Strategic Aspiration (Announced Aug. 31, 2022)
Exchange rate
assumptions /Economic trend

USD
EUR

Aspiration
120
130• Economic trend until 2030:

Temporary volatility is expected, but in the mid-long term,
recovery from the COVID-19 widespread infection period willcontinue and growth is expected• Growing demand for PS high rim diameter tires:
Mobility- “Tailwind” to continue until 2030
- Slowdown from 2030 onwards⇒ Promote creation of “new premium”• Accelerating shift to EVs⇒Promote customization to performance desired by EVs
Sustainability
8/44

100th anniversary of founding

95th anniversary of founding

90th anniversary of founding• Sustainability: Increasing social demand

24MBP (Announced Mar. 1, 2024)
USD
EUR

2024

135
149

2025-2026

130
143• Economic trend: Economic slowdown from 2H 2022 to 2023 with impacts to remain
until 1H 2024. Expect recovery from 2H 2024 onwards. Growth is slightly slower thanwhat was expected as of Aug. 2022, but expect growth in the mid-long term.
• Cost: energy & labor costs remain high, increase in talent investment• Growing demand for PS high rim diameter tires: As expected- Ensure capturing the tailwind in the 24MBP - Increase market share globally- Expand “new premium” ENLITEN-equipped products, evolve ENLITEN technology• Shift to EVs: EV adoption speed softens,
but the mid-long term adoption & expansion trend doesn’t change⇒ Expand “New premium in EV era” ENLITEN-equipped products- Diversification of desired tire performance - Further development based on onsite (Genbutsu-Genba) surveys, and strategic product planning- Launch Dan-Totsu products with performance customized to each market, notlimiting to EVs• Sustainability: Further increase in social demand – Rising cost related to sustainability

Tire demand assumption & sales volume plan for 24MBP (Passenger car tires for replacement)
Demand: Global - 2026 in the 24MBP

Sales: Global - 2026 in the 24MBP

vs. 2023: 110% level

vs. assumption for 2026 in 2030 Long Term Strategic AspirationPlan sales expansion in PS total despite of thorough premium
focus mainly in Europe & Japan and reduction of commodity and low inch zone.
⇒ Increase in market share

Recovery trend from the 2nd half of 2023 and expect growth in 2024 andonwards as well.

(announced on August 31, 2022): 95% level
half of 2023.

vs. 2023: Slightly over 125%



Expect significant growth reflecting shift to large vehicles & EVs.



PS

HRD

vs. assumption for 2026 in 2030 Long Term Strategic Aspiration(announced on August 31, 2022): 100% level

Demand assumed to be almost in line with the 2030 Long Term
Strategic Aspiration.

*PS: Passenger car tires, REP: Replacement*HRD: High rim diameter, 18 inch and above in Europe and Middle East, 17 inch and above in other regions

9/44

vs. assumption for 2026 in 2030 Long Term Strategic Aspiration(announced on August 31, 2022): 95% level

Expect approx. 5% decrease of sales, reflecting decrease in demand.
Market share: Increase in market share in 2026 compared to 2023 asassumed in the 2030 Long Term Strategic Aspiration.

Expect approx. 5% decrease reflecting slowdown in demand until the 1stvs. 2023: 115% levelvs. 2023: 140% level
Plan significant sales expansion in global total due to reinforcement ofpremium focus based on launching Dan-Totsu products globally andinitiatives to strengthen channel power mainly in N. America and Japan.
⇒ Significant increase in market sharevs. assumption for 2026 in 2030 Long Term Strategic Aspiration(announced on August 31, 2022): 100% level

Almost as planned in the 2030 Long Term Strategic Aspiration.
Sales mix: Improvement in comparison with the 2030 Long Term Strategic
Aspiration, reflecting sales decrease vs. 2030 Long Term Strategic Aspirationin PS total.
Market share: Significant increase in market share in 2026 compared to 2023
as assumed in the 2030 Long Term Strategic Aspiration.

Tire demand assumption & sales volume plan for 24MBP: Truck & bus tires (Replacement)
Demand: Global - 2026 in the 24MBP

Sales: Global - 2026 in the 24MBP

vs. 2023: 110% level

vs. assumption for 2026 in 2030 Long Term Strategic AspirationPlan sales expansion mainly in N. America where we have a solid businessfoundation despite strengthening premium focus and reducing deficit &unprofitable areas in Europe and Japan etc..
⇒ Increase in market share

Recovery from significant decline in 2023 centered around U.S. andEurope, is expected from the 2nd half of 2024 and steady growth
toward 2026.

TB
(REP)

*Excluding China

(announced on August 31, 2022): 95% level

Expect approx. 5% lower than the 2030 Long Term Strategic Aspirationreflecting significant decline in demand centered around U.S. andEurope in 2023.

vs. 2023: 115% levelvs. assumption for 2026 in 2030 Long Term Strategic Aspiration(announced on August 31, 2022): 85% level

Significant sales decrease globally in comparison with the 2030 Long Term
Strategic Aspiration reflecting decrease in new tire sales in N. America due tosignificant decrease in demand in 2023 and thorough premium focus inEurope and Japan etc..

Plan significant sales expansion and increase in market sharefor retread in N. America

Overall: Strengthen “Volume to value”  Improve business quality*TB: Truck & bus tires, REP: Replacement tires

10/44Positioning of 24MBP aligned with the “2030 Long Term Strategic Aspiration” roadmap”Passion for Excellence"

21MBP

2023

2024

Return to a strong Bridgestone
capable of adapting to change Promote glocal management:••

Total optimization globally & across value chain
Deploy local strategies adapted to each region/market,
based on global strategy⇒ Issues remained for “management and working &business quality” and “Genbutsu-Genba (respect
for being on-site)”” Rebuild earning power:
Business restructuring & rebuilding
Expense & cost structure reformation

 Foundation for evolution with solutions
business: Partially achieved

2025

Remaining issues &new issues

2026

100th anniversary of founding

2031

True next stage

Strengthen new & true glocal portfolio management (by global, business, and area)

Reinforce earning powerBusiness shaping scenario - Further focus on value creation

Become a resilient“excellent”
Bridgestone• Further focus on premium segment – Create “new premium”• Reduce business cost

“Create good business quality”: Promote new & true glocal portfolio management
Management by each area of 47 areas – “Based on-site” and ”PDCA““Create good tire” “Create good business” “Create new business sowing good seeds for the future”

 Complete laying foundation for premium
enhancement

Tackle past negative legacies squarely without delay

11/44

27MBP

95th anniversary of founding

90th anniversary of founding

2021

2030 Long Term Strategic Aspiration

24MBP

Start building sustainable premium brand
Focus on execution and delivering resultsfor immediate issues

Lay foundation for future growth24MBP: Summary of global management indicators
Remaining issues &new issues

Return to a strong Bridgestone
capable of adapting to change

2019
Currency
exchange

USD
EUR

109 JPY
122 JPY

Final year of 21MBP

2023

141 JPY
152 JPY

First year of 24MBP

2024

True next stage
Final year of 24MBP

130 JPY
143 JPY

Revenue

3,507.2 B JPY

4,313.8 B JPY

4,430 B JPY

4,800 B JPY

Adj. Operating
Profit343.1 B JPY

480.6 B JPY

530 B JPY

640 B JPY

Adj. Operating
Profit margin

9.8％

11.1％

12.0％

13％ level

ROIC

7.4％

8.7％

9.4％

10％ level

ROE

10.0％

10.4％

10.6％

11％ level

Dividend pershare [JPY]

160 JPY

200 JPY

210 JPY

250 JPY level

12/44(plan)

MIN

2030 Long Term Strategic Aspiration

2026

135 JPY
149 JPY

level

level

MIN

Become a resilient“excellent” Bridgestone(Announced on August 31, 2022)

120 JPY
130 JPY
Improve quality globally
Expand scale in growing
marketReinforce earning
power
Reinforce earning
power

Reinforce earning
power being consciousof capital cost

Continue to improve

Over 5,000 B JPY
level

820 B JPY
level

Strengthen
quality &expand scale
Expand earning
power

Over 15％ level

Strengthen
quality

12％ level

Strengthen
quality

13％ level

Strengthen
qualityーStrengthen
dividend

24MBP: Summary of global management indicators
 Continue to increase social value & non-financial indicators towards aspiration
Return to a strong Bridgestone
capable of adapting to change

Remaining issues& new issues

Final year of 21MBP

2023
Currency exchange

USD/EUR

Carbon neutrality
CO2 emission reduction(vs. 2011、Scope 1, 2)

Realize circular economy
Renewable & recycledmaterials ratio

Talent creativity*INDEX: 2019=100(＝adj. operating profit ÷ talent investment)

Corporate brand value* Interbrand data

13/44

True next stage
Final year of 24MBP(Announced on August 31, 2022)

130 JPY / 143 JPY

53% (estimation)

More than

50%

39% (estimation)

More than39%

3,600 M USD level2024 – Announced on February 20
Japan Best Brand 2024: No. 17

2030 Long Term Strategic Aspiration

2026

141 JPY / 152 JPY

110

Become a resilient“excellent” Bridgestone

130 level

120 JPY / 130 JPY
Evolve sustainability
business model- Expand social
value-

Focus on value creation
based on improvement of
productivity & creativity

Build new corporate branding withsustainable global motorsports at the core(link with E8 commitment)

50%
40%

Expandsocial value

Aim for place fordiverse talent to shine“Trust” “Empathy”

Sustainablepremium

Part 1:
24MBP New & true glocal portfolio management

24MBP
New & true glocal portfolio management scenario

14/44

24MBP: New & true glocal portfolio management scenario overview - target Aim for more than 10%
of ROIC globally

To build a strong Bridgestone and strong business quality / Improve management, working & business quality, and business administration levels– Improve cash conversion cycle
Adj. operating profit margin 8% ≒ Bridgestone’s assumed WACC 5.5% ⇒ No business with ROIC below 5.5% (excl. exploratory business)

Return to a strong Bridgestone
capable of adapting to change

21MBP

Remaining issues &new issues

Build strong Bridgestone &strong business quality

24MBP <Ensure more than 10% of ROIC>

Stage of sustainable growth

27MBP

Strengthen the premium tire business- Gain solid position in premium segment -Premium tire businessCore business

Rebuild earning power

Reinforce earning power

Lay foundation for premium
enhancement

Expand premium tires & create “new premium”“New premium”
2nd stage

Focus on solutions that amplifies value of premium tires- Strengthen linkage between premium tire and solution -Solutions business
Growth business

Lay foundation for evolution
with solutions business“Determine“

Focus on retail & service and commercial BtoB solutions- Mobility tech business = Build as strategic business -“Sowing new seeds”- Providing social value and sustainability as the coreExploratory business

Diversified products
business

15/44

Explore technologies

Explore business model
Demonstration / small-scale commercialization phase“Sharply focus on areas where Bridgestone’s core competencies can be leveraged”
Rebuilding & steady growth

Steady growthStage togrow and expand

Explore to commercialize(small & medium scale)

Next stage2030
Become a resilient“excellent”
Bridgestone24MBP: New & true glocal portfolio management scenario overview
Adj. operating
profit margin

Reinforce earning power – To a “strong” Bridgestone
Create “new premium”

2023 Results
2026 Target

Premium tirebusinessCore businessPremium tirebusiness

Revenue growth rate
(20232026)

Adj. operating
profit margin

Over 110%2023:13.7%⇒2026: 16% level“Amplify value of premium tires”
Determine feasibility & return timings*Bridgestone’s assumed WACC: 5.5%≒
Adj. operating profit margin: 8.0%

Solutionsbusiness
Growth business

Solutionsbusiness
Diversified products
business

INDEX:
2023=100

16/44

105

110

115

Revenue growth rate (20232026)

120

Diversified
products
business

Focus on retail & service
as well as commercial BtoB solutions
Revenue growth rate
(20232026)

Adj. operating
profit margin

Over 110%2023: 5.5%⇒2026: 8 % level

Sharply focus on areas where
Bridgestone’s core competencies can be leveraged
Revenue growth rate
(20232026)

Adj. operating
profit margin

Secure 8% level of
Adj. operating profit margin

Over 115%2023: 4.4%⇒2026: 8% level24MBP: New & true glocal portfolio management scenario
Premium tire business Core business - Target Adj. operating
profit margin

2023 Results
2026 Target

 Mature areas –Promote ”reinforcement of earning power”: N. America & Japan REP
N. America: Expand sales & market share in the premium segment,
strengthen family channel. Grow by developing newchannels in collaboration with strategic partners.
Japan REP: Reinforce focus on premium through channel rebuilding
N. America

Over 125%
Over 115%
11% level⇒12% level
12% level⇒19% level

Revenue growth rate
(20232026)

Specialties

Adj. operating profit margin(20232026)

N. America

Specialties

 Specialties (OR/AC/AG/MC*): Support “earning power”

India

N. America
India

Japan China
REP

Japan REP
Indonesia

EuropeChina
EuropeJapan REP

Revenue growth rate
(20232026)

Indonesia*Bridgestone’s assumed WACC: 5.5%≒
Adj. operating profit margin: 8.0%

115%

Adj. operating profit margin(20232026)

21% level⇒

20% level Business restructuring & rebuilding:
Europe business (Incl. retail and retread) & China business
Revenue growth rate
(20232026)

Adj. operating profit margin(20232026)

EuropeChina (PS & TB)

115%
1% level⇒8% level
To a level exceeding
WACC 5.5%

Over 120%
5% level⇒13% level
Withdraw from TB business⇒Focus on PS premium, a growing
segment (growth rate: 145％)

 Growth area: India, Indonesia, etc.
INDEX:
2023=100

110

120
130
140
Revenue growth rate (20232026)(Revenue & Adj. operating profit for Specialties, Japan REP, and Europe includes solutions)*OR: Off-the-road tires, AC: Aircraft tires, AG: Agricultural tires, MC: Motorcycle tires

17/44

Revenue growth rate
(20232026)

Adj. operating profit margin(20232026)

India

Over 125%
15% level⇒16% level

Indonesia

140%
9% level⇒13% level24MBP: New & true glocal portfolio management scenario

Premium tire businessCore business- Target - Establish more than 10% ROIC globally during the 24MBP period= Adj. operating profit margin: 8% ≒ Bridgestone’s assumed WACC: 5.5% ⇒ No business with ROIC below 5.5%

 Significantly increase “earning power” in the premium tire business – begin the 2nd stage of restructuring & rebuilding:
Build structure to reinforce focus on premium in Europe & China
Restructure & rebuild Europe business
21MBP

Bethune plant, France (for PS, in 2021)

24MBP: Drive 2nd stage of restructuring & rebuildingin Europe
Entire business (especially retail, TB, and retread)

Rebuild Thailand business
21MBP

Rangsit plant, Thailand(for bias tires, PS & TB, in 2023)

24MBP: Return to Dan-Totsu No.1 position
Rebuild business to focus on PS & TB premium segments

18/44

Restructure & rebuild China business
21MBP

Huizhou plant, China (for TB, in 2021)

24MBP

Shenyang plant, China (for TB, 2024)

2024: Withdraw from TB business in China (Discontinue production & sales)

24MBP• Structure to “produce & sell” for the China business – enhance produce & sell within
China- 2 plant for PS (Tianjin/Wuxi) – Reinforce focus on the premium tire business24MBP: New & true glocal portfolio management scenario

Premium tire businessCore business- Target - Europe business – 2nd stage of restructuring & rebuilding:”Change the shape of the Europe business” – Reinforce structure to focus on premium Setting the entire European business as a “business unit under focused management”, start focused management
 Introduce new talent & schemes to reinforce “business management” and “onsite (Genbutsu-Genba)” activities including dispatching talent from HQ Execute rebuilding across production, sales, and solutions
Product
strategy

R&D

Procurement

Production
Plan

Manufacturing

Logistics

Sales

Use

3R

 Production: Rebuild to focus on premium• PS: 21MBP – Restructuring of the Bethune plant (France, in 2021)• TB: Adjust production capacity to sales plan by shortening operating days and adjusting personnel at the 3 TB plants in Europe (especially the 2 plants in Spain)– Optimize fixed cost by improving efficiency (for all Europe production)

 Sales: Reinforce premium focus (PS & TB)– Launch & size expansion of Dan-Totsu products, further reduction of loss-making/unprofitable business• Refine sales structure (wholesale business): Simplify (integrate, improve efficiency, optimize fixed cost)• Restructure retail business: ”Tackle past negative legacies squarely” – Support from WEST U.S. retail team (began from Oct. 2023)
Begin with rebuilding through operation improvements – Start rebuilding from 2024 / Reduce deficit  Become profitable from 2026
• Rebuild TB business: Reduce unprofitable business & ensure focus on premium, reinforce business for fleets– Start rebuilding from 2024 / Reduce deficit  Become profitable from 2025
• OE* business: Reinforce focus on premium car models and OEMs as well as prestige OEMs
*OE: Tires on new vehicles

 Solutions: Clarify “what to do” and “what not to do”• BtoC subscription: Loss-making business  Discontinued “Mobox” (2023), BtoB subscription: Rebuild – Integrate into “Fleetcare” program, and limit• Retread: Restructure & rebuild in limited areas, improve profitability – Start rebuilding from 2024 / Reduce deficit  Become profitable from 2026

19/44

24MBP: New & true glocal portfolio management scenario

Premium tire businessCore business- Reinforce earning power - Increase opportunities for value creattion ---- To gain solid position in the premium segment
Expand premiumin the existing segment“Tailwind”

Reduce business cost andenvironmental impact

Create Bridgestone’s unique “new premium”“New premium in EV era”
Expand & reinforce ENLITEN,“ultimate customization”

Expand PS HRD tires＋

Strengthen launching of Dan-Totsu
products optimized to EV andcustomized to each market as well
U.S. Launched in May 2023＋

Green & smart(productivity improvement & CO2 emission reduction)

Build “sustainable premium” brand

Steady productivity improvement
based on Genbutsu-Genba(respect for being on-site)
Global procurement reinforcement
Global SCM logistic transformation“B-Direct”

20/44

24MBP: New & true glocal portfolio management scenario
Solutions business Growth business - Target Adj. operating
profit margin

N. America
Retread2023 Results
2026 Target

N. America
RetreadSpecialties

Azuga
N. America
WFS
RetailJapan RetailJapan Solutions

Europe Retail

Revenue growth rate
(20232026)

Adj. operating profit margin(20232026)

EuropeWebfleet
Specialties
OR/AC

Japan
Solutions(incl. retread)

N. America
RetailJapan
RetailEuropeRetailN. America
Azuga

EuropeRetread(20232026)

Adj. operating profit margin(20232026)

Europe<Restructure & rebuild>*Bridgestone’s assumed WACC: 5.5%≒
Adj. operating profit margin: 8.0%

Revenue growth rate
(20232026)

Adj. operating profit margin(20232026)

Build as strategic
businesses(mobility tech business)
EuropeRetread

21/44

Japan

Revenue growth rate

INDEX:
2023=100

N. America

Specialties(OR/AC solutions)

Mobility Solutions(20232026)

140

160

Revenue growth rate (20232026)

180

240

Adj. operating profit margin(20232026)

Retread115%
6% level⇒7% level

110%
24% level⇒26% level

Retail & service

Solutions (incl. retread)

Retail & service

Retread110%
5% level⇒6% level
110%

180%
5% level⇒10% level

140%(3)pp level⇒More than 1% level (19)% level⇒3% level
Become profitable

Revenue growth rate
(20232026)

Adj. operating profit margin(20232026)

Revenue growth rate

120

Retail & service

Webfleet (Europe)

145%
10% level⇒15% level

120%
12% level⇒16% level
Azuga (N. America)

240%
10% level⇒15% level*Webfleet (Europe) / Azuga (N. America): Excluding PPA

24MBP: New & true glocal portfolio management scenario - Solutions business

Growth business 24MBP : Focus on retail & service solutions and commercial BtoB solutions⇒ Turn the mobility tech business into a strategic business - “Focus on value creation”
2026: Adj. operating profit margin 8% level- Achieve Bridgestone’s assumed WACC 5.5%

2023: Adj. operating profit margin 5.5%

Retail & service solution
Increase UX or user experience value
through enhancing touch points with customers
Japan

Family channel

U.S.

Commercial BtoB solutions
Amplify valueof Dan-Totsu
products

Enable customers to use tires
safer, longer, better and more
efficiently according tocustomer’s situation of use

Contribute to realizationof carbon neutrality andcircular economy

Premium tire × Tire-centric solution × Mobility solution

Wear prediction ⇒ Evolve into durability prediction
Strategic partners“Understand and solve
customer problems”

Enhance mining & aviation solutions“Co-creation basis”“Enhance premium tires sales”

Enabler that supports reinforcement of the premium tire business

Build as the mobility tech business - Strategic business for value creation Real x Digital

22/44

Enhance Fleetcare program(N. America)

24MBP: New & true glocal portfolio management scenario

Solutions business

Growth business- Determined during 21MBP - 2023: Determined profitability, growth potential, and value creation of loss-making/unprofitable projects one by one⇒ Discontinue solutions for consumer tires (mainly for PS) in N. America & Europe /Restructure & rebuild retail in Europe – Establish structure to focus on value creation
Europe• BtoC Subscription:
Discontinue “MOBOX”• BtoB Subscription: Rebuild⇒ Integrate into “Fleetcare”• Retail: Restructure & rebuild• Retread: Restructure, rebuild
and limit areas

Asia & Pacific• Retread: Limit areas and customers- Australia & Thailand: Rebuild- Some areas: Withdraw
23/44

N. America• BtoC Subscription: Discontinue “RESOLV”• BtoC Mobile van service: “Firestone Direct”⇒ Consolidate into BtoB for TB to further
enhance the mobility ecosystem by Fleetcare
program

24MBP: New & true glocal portfolio management - Exploratory business
Exploratory business: Sowing new seeds - Promote business that leads creation of new social value & customer value
21MBP

27MBP

24MBP

“Sowing new seeds” – Providing social value & sustainability at the core Explore
technologies

Explore business model - Demonstration / small-scale commercialization phase No air inflation required“Next-generation tire”

Demonstration phase Contribute to evolution of sustainability
business model• Enhance & diversify renewable resources- Guayule (mainly in the U.S.)• “Renew” tires to raw material- Recycle (Japan and U.S)
Demonstration phase Contribute to build Bridgestone’s
mobility ecosystem
Various mobility-related tools• Autonomous driving system• Advanced digital sensor development,
etc.
Demonstration phase

24/44

Explore to commercialize(small & medium scale)

Guayule New challenge
leveraging core competencies

Soft-robotics
Small-scalecommercialization phase

Soft-robotics

24MBP: New & true glocal portfolio management - Diversified products business Sharply focus on areas where Bridgestone’s core competencies can be leveraged: To AOP 8％ level– Achieve Bridgestone’s assumed WACC 5.5% BusinessSupport operations in various industries

Hydraulic/high performance hoseCore competenceTechnology core masteringforming hybrid polymer

Hydraulic hose

Strong brand power
fostered by long history
and track record

Rubber track

Rubber track
Support lifestyles thatprioritize safety and peace of mind

Plastic piping

Seismic isolation
Support the shift to EV
from the ground up

Air spring (U.S.)

Support sports life and mobility life thatinspires excitement and spreads joy

Sports
Cycle

25/44

Golf ball
Golf club
Power assisted bicycle
bicyclePremium product power(high performance,high added value)
Air spring

Ability to make proper
technological proposal
based on Genbutsu-Genba
and customer focus
Plastic piping

24MBP: New & true glocal portfolio management scenario - Management by area (47 areas) Bridgestone DNA “Genbutsu-Genba (respect for being on-site)”: Establish “strong business quality”
Focus on value creation based on Genbutsu-Genba “Maximize efficiency & effectiveness”
EAST 16 areas
BSJP

BSDP

Japan tire
REP
OE

1
area 2
area

G-MICAarea

3

Solutions

area

4

area

5

Global MC

BSAPIC

Diversified Products

area

13

OR

area

15

Sports / Cycle

area

14

AC

area

16

Japan retail
RetailWEST 31 areas
Southeast Asia

BSAM
area

6

N. America tire

17

Australia
New Zealand

area

9

Canada
AG

India

area

10

L. America tire

area

China

area

11

Indonesia

Taiwan7
area 8
area

12

PS OE

area

area

PS REP

area

TB OE

area

Mexicoarea

ArgentinaAG

area*PS: Passenger car tires, TB: Truck & bus tires

WEST retail

Global47 areas

38

area

AG

Middle East/
N. Africa tire

24

37

Azuga

*BSJP: Japan tire, BSDP: Diversified products & Exploratory, G-MICA: Global mining, industrial, construction, aviation tire solutions

TB REP

25
26
area 27
area 28

Brazil

area

TB OE

area

N. America retread

Europe retread

area

area

45

41

Middle East &N. Africa tire

area

35

S. Africa tire
(Broad)

area

36

40

WEST retread

39

29

30
31
area 32
area 33
area 34

area

WFS

BSAPIC: Asia Pacific, India, and China, BSAM: Americas, BSEMEA: Europe, Middle East, and Africa

area

PS REPTB REP

area

Europe tire

PS OE

WEST BMS

26/44

area

18
19
area 20
area 21
area 22
area 23

ThailandJapan segment

AG：Agricultural tire, OE: Original equipment, REP: Replacement tires

BSEMEA

area

42

N. Americaarea

Air spring
area

46

CFNA

43

area

44

Europearea

47

24MBP: New & true glocal portfolio management scenario*Number of passenger car or light truck owned per 1,000 people - Economist Intelligence Unit／
Capita GDP – Made by Bridgestone based on S&P Global data (as of the end of January 2024)

Management by business portfolio x area
Core businessPremium tirebusiness

Expand the premium tire business ingrowing markets

India
Other Southeast Asia

*PS: Passenger car tires, TB: Truck & bus tires

Reinforce the sustainable global premium tire business

Middle East

Indonesia
S. AfricaJapan
Premium tire

China (PS)N. America
Premium tire

Specialty tires

For mining &construction vehicle
For aircraft

Australia & NZ

Expand retail & solutions business mainly in N. America and JapanJapan
RetailGrowth business
Solutions business

EuropeWebfleet(incl. retread)

N. America
Azuga

N. America
RetailN. America
Retread

OR/AC solutions

Mobility tech

< Strategic business>

L. America

Volatile(especially Argentina)

Restructuring& rebuilding

ThailandChina (TB)

Europe Premium tire (especially TB) & retail / retread
Sharply focus on areas where Bridgestone’s
core competencies can be leveraged

Diversified
products

U.S. Airspring

Growth market
27/44

Japan Solutions

Motorization(Number of passenger car or light truck owned per 1,000 people x Capita GDP*)

Japan Diversified
products
Sports & cycle

Mature market

Part 1:
24MBP: New & true glocal portfolio management

Strategic resource, R&D expense,and capital investment

28/44

24MBP: Capital expenditure
Capital expenditure: Strategic + Ordinary total (B JPY)
Focus on premium

Continue reinforcement mainly around strategic
capital expenditure mainly for the premium tirebusiness (core business)
24MBP

6,000
5,000

2,000
1,000
0

Capital expenditure total

1,400 B

29/44

420
262
205.7
56.2

2021

317
253.6

94.3

2022

166.4

2023

Approx. 1,000 B JPY
Currency USD
exchange EUR

110 JPY
130 JPY

Approx.

430

Approx.

500

Approx.

Approx.

Approx.

Approx.

Approx.

2025

2026

273

132 JPY
138 JPY

141 JPY
152 JPY

480
243

269

222.8

21MBP

(strategic + ordinary)

JPY
Approx.
(Approx. 1.4 times than in the 21MBP)Approx.

Strategic investments

4,000
3,000

Plan over 400 to 500 B JPY level capital investment
every year, exceeding the annual depreciation
expense level (3 year avg.) of approx. 340 B JPY

Ordinary investments

Approx.

165

2024

225

240

24MBP

Approx. 1,400 B JPY
135 JPY
149 JPY

130 JPY
143 JPY

130 JPY
143 JPY
3

Ordinary investment: Slight increase vs. 21MBP due to lease renewals for retail storesand warehouses as well as for distribution sites, in addition to the usual investments
in maintenance and renewal of equipment at plants

24MBP: Strategic resource – By business portfolio
 Throughout the 24MBP, enhance resource mainly around strategic investment for the premium tire business with high certainty of return
Total strategic resource

Approx.

780 B JPY

• Inject approx. 1.5 times than in the 21MBP: Continue reinforcing investment especially in the premium tire business• Carefully selected resource to less than 70% that of the 2030 Long Term Strategic Aspiration (Approx. 1,200 B JPY)

Strategic resource amount (B JPY)
3,500
3,000

Strategic expense, etc.
Strategic capital expenditure

2,500
2,000
1,500

135.6

1,000

79.4

500
0

56.2
2021

139.5
45.2

247.2

Approx.

80.8

Approx.

USD
EUR

Approx.

2023

2024

30/44

Approx. 520 B JPY
110 JPY
130 JPY

132 JPY
138 JPY

300
60

Approx.

50

Approx.

141 JPY
152 JPY

165

240

225

2025

Premium tires

161.8 B JPY(31%)

Diversified products/ Exploratory,
Foundations, etc.

130 JPY
143 JPY
3

Solutions total

Core businessPremium tires

IT infrastructure:(Slightly below 20%)

Approx.

Growth business150.9 B JPY (29%)

Solutions total
Approx.

450 B JPY

(Slightly below 60%)

Diversified products/ Exploratory,
Foundations, etc.

- Adapt to ENLITEN /MASTERCORE- Premium tire production& development- BCMA- Green & Smart- Sustainability(Slightly below 10%)2026

Approx. 780 B JPY
130 JPY
143 JPY

IT infrastructure
(21%)

(19%)

24MBP

135 JPY
149 JPY

24MBP

Core businessApprox.

45

166.4

21MBP

Currency
exchange

210

280

21MBP

Approx.

Approx.

94.3
2022

Approx.

Strategic resource allocation

Growth business& service (mainly in the U.S. and Japan)
130 B JPY -- Retail
Retread(Over 15%)-

Build mobility tech business(incl. enhancing mobility solutions)
OR/AC solutions

24MBP: Strategic resource - By area & start timing of the return of investment
 By area – vs. 21MBP: Strengthen businesses related to mining & aviation (portion: to approx. 4 times), while continuing to inject approx. 40% of resourcesin the U.,S. where the scale of our business is large.
Reduce resources related to the European business (portion: to approx. half) and focus on restructuring & rebuilding By start timing of the return of investment: Focus on short-term & mid-term (approx. 70%) with laying foundation for the future, ensuring balance.
Short-term: Mainly premium tire, retail, and retread, Mid-term: Mainly mobility tech and exploratory business

Allocation by area
Total amount in 21MBP approx. 520 B JPY
Global foundation area
130 B JPY (25%)

Mining& aviation

Americas209.8 B JPY(40%)

12.5 B JPY

Total amount in 24MBP approx. 780 B JPY
Global foundation area
(Slightly below 25%)44.4 B JPY (8%)

31/44Foundation

Short-term

Slightly more than

30%

40%)

25%

Europe,Middle east,and Africa

Long-term

Mid-term

Slightly below

Slightly
more than

Mining& aviation

10%)

Japan tire

Asia & pacific(Slightly below(Slightly below(2%)

37.5 B JPY(7%)

Americas

Allocation by start timing of the return of investment- 24MBP -Europe, Middle
east, and Africa

81.3 B JPY(16%)

Japan tire

(10%)

(Slightly more than5%)

Asia & pacificslightly below 10%

10%

35%

Start timing of the return of investment
Short-term: 24MBP, Mid-term: 27MBP, Long-term: 2030 onward24MBP: R&D expenses
Premium tire businessCore business＋ Solution business

Growth business Inject approx. 412 B JPY of R&D expenses in total for product & manufacturing technology development and solutions in the 24MBP
R&D expenses in line with business portfolio – Continue to reinforce injection- R&D expense for product & manufacturing technology development: Strengthen strategic area such as ENLITEN & MASTERCORE, our “new premium”- R&D expense for solutions (including retail): Reinforce investment in developing new retail store format in the U.S. and building the mobility tech businessTotal R&D resource (B JPY): Expenses
R&D expense for product & manufacturing
technology development
R&D expense for solutions

Approx.

Approx.

1600

126

1400

Approx. 2

1200

Approx.

148

138

Approx. 6

Approx. 4

 R&D expense for product & manufacturing technology
development: Approx. 400 B JPY in the 24MBP••••

Continue to reinforce to the level of 3% of revenue

1000
800

Approx. 124

600

Approx. 134

Approx. 142

2025

2026

 R&D expense for solutions (U.S. retail & building the mobility
tech business): Approx. 12 B JPY in the 24MBP

400
200
0

2024

24MBP: Approx. 412 B JPY
Currency
exchange

32/44

USD
EUR

135 JPY
149 JPY

130 JPY
143 JPY

Technology development for ENLITEN & MASTERCORE
Promote sustainable global motorsports development
Promote shift to Green & Smart & DX
Individual product development: Improve efficiency for consumer  Strengthen commercial

130 JPY
143 JPY
3••

Develop new retail store format in the U.S. Real x Digital
Promote R&D to build the mobility tech business:
Strengthen development of next generation tire monitoring sensor(evolve Tirematics) and development of retread technology

Part 1:
24MBP: New & true glocal portfolio management

Management focusing on capital cost

33/44

24MBP: Management focusing on capital cost (starting since 2020)■ Promote “reinforcement of earning power” leveraging ROIC
Remaining issue of 21MBP: ROIC target of 10％ level unachieved

24MBP

Promote “reinforcement of earning power”
and improve capital turnover
Establish ROIC of 10%

Continue on-site (Genbutsu-Genba) ROIC improvement activities leveraging the ROIC tree,
and promote “reinforcement of earning power” across the value chain
ROIC (>capital cost)
2026

2023

10% level

8.7%

Adj. operating profit(after tax)*
2023

7.8%

2026

9% level*Fix tax rate of 30％

Improvement

2023

38.4%

The Bridgestone Group’s
definition of ROIC

Invested capitalturnoverAdj. operating profit (after tax)
Working capital + Non-current assets(Invested capital)

Adjusted operating profit (after tax): Fixed tax rate of 30%
Working capital: Notes and accounts receivable andother assets + Inventories – Notes and accounts
payable and other liabilities (FY-end balance)
Noncurrent assets: Non-current assets excluding
deferred tax assets (FY-end balance)

2023

1.12
times

2026

1.15

times level

2026

40% level

Operating expense ratio
2023

27.2%

Deterioration

ROIC ＝

Gross profit margin

2026

Same as 2023

• Dan-Totsu product launch, sales expansion of premium
tires: Continue increasing market share, improving sales
mix, and creating value.
Value creation by fusion of “new premium” ENLITEN and
BCMA: Expand ENLITEN & accelerate BCMA benefit
creation• Further reduction of loss-making/unprofitable areas• Business cost reduction: Continue through BCMA, green &smart, steady on-site productivity improvements, global
procurement, global SCM logistics transformation

Cash conversion cycle*2023

161 days2026

150 days level

Fixed asset turnover
2023

1.63times

2026• Strengthen inventory management rapidly adapting to
demand & sales fluctuations⇒ Improve CCC• Execute the 2nd stage of restructuring & rebuilding⇒ Maintain & improve fixed asset turnover

1.65 times level*Cash Conversion Cycle (CCC)= Days of inventory outstanding＋Days of sales outstanding – Days of payables outstanding

34/44

Part 1:
24MBP: New & true glocal portfolio management

24MBP: Capital allocation /shareholder returns

35/44

24MBP: Capital allocation / shareholder returns
 While prioritizing sustainable growth and corporate value enhancement through “strategic growth investments” forearning power reinforcement, focus on value creation, and building a sustainable premium brand,“maintain an appropriate financial position” and “enhance shareholder returns”.
Cumulative CF**Adjusted, such as excluding strategic OPEX, etc.

Strategic
resource

Approx.

Approx.

1.6 times

Approx.

2,200 B JPY

Approx.

800 B JPY
Repayment of debt

1,400 B JPY

Approx. 300 B JPY

Shareholder
returns
Approx.

500 B JPY
Ordinary
investments, etc.

Approx.

21MBP

21MBP

24MBP

24MBP

Cash in: Reinforce earning power

700 B JPY

Strategic resource (strategic investment + strategic expense)

24MBP: Approx 800 B JPY(Approx. 1.5 times than in the 21MBP) Premium tire business: Approx. 500 B JPY
 Solutions business: Approx. 100 B JPY
 IT / Foundations / Diversified products & Exploratory businesses: Approx. 200 B JPY

Maintain an appropriate financial position:

While maintaining financial soundness, balance capital efficiency
Capital efficiency ROE: 2026 11% level
Maintain & enhance/ Capital costcredit ratings
ROIC: 2026 10% level2023 Moody’s: A2
S&P: A

Enhance shareholder returns: Increase dividends in a stable and continuous manner
Dividend: With target dividend payout ratio of 40%, continuously increase dividend per share
Dividend per share2024 dividend forecast: 210 JPY (+5pp vs. prior year)
2026 dividend (24MBP plan): 250 JPY level

While prioritizing sustainable growth and corporate value enhancement through “strategic growthinvestments”, assess financial soundness & enhancement of shareholder returns comprehensively.
Agilely consider acquisition of treasury stock.

Ordinary capital expenditure: 200-300 B JPY/year level throughout the 24MBP period

Cash out: Enhance strategic resource mainly for the premium tire business with high certainty of return. Enhanceshareholder returns by increasing dividends in a stable and continuous manner (above dividends are minimum targets).
Plan & execute rebuilding & restructuring to reinforce business quality (in Europe, China, Thailand) using funding from asset sales, etc.

36/44

Part 1:
24MBP: New & true glocal portfolio management

Global management risks

37/44

24MBP: Global management risks
 Reinforce structure to cope with global management risks to remain resilient by change that is becoming commonplace- Improve risk sensitivity Set priority items based on discussions in the Global Management Risk Committee composed of regional/business top management.
Establish a project team for each priority item to identify risks and countermeasures, with a global executive member as leader.

Geopoliticalrisk

Analyze business impact when risks occur, examine measures to minimize their impact & establish execution structure• Ensure employee safety, protect assets, provide customer support, protect corporate/brand image• Consider & ensure alternative sourcing of raw materials<TRWP>• TRWP is the result of friction between the tire and the road surface which is essential to secure a safe comfortable journeywith peace of mind. It consists of a mixture of tread (tire surface) and road pavement materials.

TRWP= Tire & Road
Wear Particles /6PPD• Bridgestone’s approach: Through the World Business Council for Sustainable Development (WBCSD) Tire Industry Project (TIP), investigate physical & chemical
characteristics of TRWP and their effect as a leader in the industry
 Actively participate in and lead initiatives in industry organizations, helping to develop globally consistent evaluation test methods⇒ Promote activities to define common standards for all industry professionals- Reducing the number of tires on the market that do not meet common standards will lead to mitigating the emission of TRWP On top of improving various performance desired of tires, improve wear resistance performance : Focus on developing long-life products
and pursue innovation to reduce TRWP including linkage with the solutions business<6PPD>• Anti-aging agents commonly used in the tire industry• Work as an industry. At the same time, Bridgestone will work to develop alternatives with the basic premise that tire safety is ensured.

Cyber
incident
38/44

2022: In response to the cyber incident in the U.S. subsidiary, implemented emergency measures by region.
Established a global cyber security team and started implementing fundamental measures to improve cyber resilience.
2023- : Conduct global assessment ⇒ Driving global standardization

Part 1:
24MBP: New & true glocal portfolio management

Financial targets

39/44

Financial targets for 24MBP: Revenue by business portfolio
Return to a “strong” Bridgestone
capable of adapting to change
Currency
exchange

USD
EUR

110 JPY
130 JPY

132 JPY
138 JPY

Remaining issues/ New issues

141 JPY
152 JPY

135 JPY
149 JPY

61,000130 JPY
143 JPY

51,000
Diversified
products businessIn brackets: Portion of total revenue
41,00031,0003,246.1
243.2

Growth business

4,110.1
278.1

1,157.4

4,313.8
298.4

1,323.7
（29%）

1,000

2,298.72021

2,856.5

2022
21MBP

40/44

(Approx. 110% of 2023)

4,430

120 JPY
130 JPY

Over 5,000

350 level

320 level

1,480

1,370

level
(29%)

level
(29%)

2,000
level

888.1

21,00011,000130 JPY
143 JPY

4,800 level

Core business

Solutions business (incl. revenue of retail tires)

2030:
Resilient “excellent”
Bridgestone

True next stage

Revenue [B JPY]

Premium tire business*The simple total of revenue by business segment does not equal Grouprevenue due to elimination in consolidation, etc.
*Portion calculated from a simple total of revenues by business segment

2,921.5

3,290

2,950

(64%)

level
(64%)

2023

2024 (plan)

level
(64%)

2025
24MBP

2026

3,000
level

2030

Long Term Strategic Aspiration(announced Aug. 2022)

Financial targets for 24MBP: Financial overview
Return to a “strong” Bridgestone
capable of adapting to change
Currency
exchange

109 JPY
122 JPY

107JPY122 JPY

110 JPY
130 JPY

132 JPY
138 JPY

141 JPY
152 JPY

135 JPY
149 JPY

3,507.2

2,695.2

3,246.1

4,110.1

4,313.8

4,430

USD
EUR

Revenue[B JPY]

9,000
Adj. Operating
8,000
Profit [B JPY]

12.1%

7,000

Adj. Operating
6,000
Profit Margin [%]
5,000
4,000
3,000
2,000
1,000

Remaining issues/ New issues

9.8%
343.1
2019

7.7%
2020

207.4

394.3
2021

11.7%

11.1%
480.6

530

2022

2023

2024 (plan)

21MBP

True next stage

130 JPY
143 JPY

130 JPY
143 JPY

Over 5,000

13% level
640

15.0%

13.0%
Over 15%level

B JPY level(Approx.

2025
24MBP

820 B JPY
11.0%

130% of 2023)

B JPY

9.4%

120 JPY
130 JPY

4,800 level(Approx. 110% of 2023)

12.0%

482.6

2030:
Resilient “excellent”
Bridgestone

level
9.0%

2030

2026
vs. 2023

Long Term Strategic Aspiration(announced Aug. 2022)

7.4%
10.0%

5.1%
-0.9%

9.0%
12.9%

9.4%
10.9%

8.7%
10.4%

10.6%

10% level +1.3pp level
11% level +0.6pp level

Profit from continuing
operations [B JPY]

240.1

-19.8

307.9

305.4

326.9

359

430 level

130% levelーProfit margin fromcontinuing operations [%]

6.8%

-0.7%

9.5%

7.4%

7.6%

8.1%

9% level +1.4pp levelーDividend per share
[JPY]

160

110

170

175

200 (Plan)

250 level

ー

ROIC
ROE

210

Minimum

Minimum+50 level

Based on the “strong” Bridgestone capable of adapting to change, shift to the “true next stage” in 2025 & 2026
– Plan 13% in Adj. operating profit margin, and steadily grow other management indexes.
Further focus on “reinforcement of earning power” and “value creation” to realize the 2030 Long Term Strategic Aspiration.
41/44

7.0%

12% level
13% level

Financial targets for 24MBP:
Overview of business portfolio - Adjusted operating profit (Amount, ratio and composition)
Return to a strong Bridgestone capable of adapting to change

True next stage

Remaining issues & new issues

2023 - Final year of 21MBP Core businessPremium tire business400.7 B JPY
Adj. operating
profit margin 13.7%
Adj. operating
profitAdj. operating profit
portion82%

Growth businessCore business

Growth business

Include revenue of retail
Solutions business *tires
in solutions businessPremium tire business

Solutions business tires in solutions business

Adj. operating
profit Over

Adj. operating profit Adj. operating
profitportionAdj. operating profit
portion15%

Adj. operating
profit72.2 B JPY
Adj. operating
profit margin 5.5%
Adj. operating
profitAdj. operating
profit margin

11.1%

Adj. operating profit
portionoperating
13.2 B JPY Adj.
profit margin 4.4%

3%

* Include revenue of retailJPY
520 Blevel

16% level

Adj. operating profit
portion+4%(Adj. operation profit portion)* Calculated from a simple global total of revenues by business segment

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Adj. operating
profit margin

Build foundation for growthof the solutions business480.6 B JPY

Diversified products business
Adj. operating
profit2026 - Final year of 24MBP -19

Adj. operating
profit

77% 640

B JPY level

Adj. operating
profit margin

13% level

Adj. operating profit
portionDiversified products business
Adj. operating
profit OverJPY
120 Blevel
Adj. operating% profit margin 8% level

JPY
25 Blevel

Adj. operating
profit margin

8% level

4%

Achieve Bridgestone’s assumed WACC5.5％≒ AOP over 8%

24MBP: New & true glocal portfolio management scenario overview - target Aim for more than 10%
of ROIC globally

To build a strong Bridgestone and strong business quality / Improve management, working & business quality, and business administration levels– Improve cash conversion cycle
Adj. operating profit margin 8% ≒ Bridgestone’s assumed WACC 5.5% ⇒ No business with ROIC below 5.5% (excl. exploratory business)

Return to a strong Bridgestone
capable of adapting to change

21MBP

Remaining issues &new issues

Build strong Bridgestone &strong business quality

24MBP <Ensure more than 10% of ROIC>

Stage of sustainable growth

27MBP

Strengthen the premium tire business- Gain solid position in premium segment -Premium tire businessCore business

Rebuild earning power

Reinforce earning power

Lay foundation for premium
enhancement

Expand premium tires & create “new premium”“New premium”
2nd stage

Focus on solutions that amplifies value of premium tires- Strengthen linkage between premium tire and solution -Solutions business
Growth business

Lay foundation for evolution
with solutions business“Determine“

Focus on retail & service and commercial BtoB solutions- Mobility tech business = Build as strategic business -“Sowing new seeds”- Providing social value and sustainability as the coreExploratory business

Diversified products
business

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Explore technologies

Explore business model
Demonstration / small-scale commercialization phase“Sharply focus on areas where Bridgestone’s core competencies can be leveraged”
Rebuilding & steady growth

Steady growthStage togrow and expand

Explore to commercialize(small & medium scale)

Next stage2030
Become a resilient“excellent”
Bridgestone

2030 Long Term Strategic Aspiration: Strategic Map

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Statements made in this presentation with respect to Bridgestone's current plans, estimates, strategies and beliefs and other statements that are not historical facts areforward-looking statements about the future performance of Bridgestone. Forward-looking statements include, but are not limited to, those statements using words such as"believe," "expect," "plans," "strategy," "prospects," "forecast," "estimate," "project," "anticipate," "may" or "might" and words of similar meaning in connection with a
discussion of future operations, financial performance, events or conditions. From time to time, oral or written forward-looking statements may also be included in othermaterials released to the public. These statements are based on management's assumptions and beliefs in light of the information currently available to it. Bridgestone
cautions you that a number of important risks and uncertainties could cause actual results to differ materially from those discussed in the forward-looking statements, andtherefore you should not place undue reliance on them. You also should not rely on any obligation of Bridgestone to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. Bridgestone disclaims any such obligation.

Copyright © Bridgestone Corporation

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