 This presentation gives Panasonic’s consolidated financial results forthe third quarter of fiscal 2022 (FY22) ended December 31, 2021.

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 First, the summary of the consolidated financial results for FY22 3Q.
 Overall sales increased from the same quarter of FY21 due to increased
sales of such businesses as information & communication applications in
Industry and automotive batteries in Energy, as well as the newconsolidation of Blue Yonder. On the other hand, sales decreased for
consumer electronics in Japan of Lifestyle and automotive solutions ofAutomotive due mainly to the impact from strong demand in FY21.
 Adjusted operating profit decreased.
This is largely affected by raw material price hikes, mainly in Lifestyle suchas consumer electronics and air-conditioning, as well as temporary
negative factors such as the impact of temporary accounting treatment
related to “re-evaluation of assets and liabilities” upon Blue Yonder
acquisition. However, profit of Industry, Energy and other businesses
increased with increased sales.

Both operating profit and net profit decreased.
 For the FY22 full-year forecast, adjusted operating profit is revised
downward, reflecting the current management environment such as
reduced automobile production, raw material price hikes as well as the
temporary factors mentioned above. However, other income/loss is revised
upward, due to expected gains from the sale of assets and other factors.
 Overall sales, operating profit, profit before income taxes, and net profit
remain unchanged.
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1 I will explain the details of the consolidated financial results for FY22 3Q
from the next slide.

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2 This slide shows the consolidated financial results for FY22 3Q.
 Overall sales increased to 1,889.8 billion yen by 4% from the samequarter of FY21.
 Adjusted operating profit decreased to 87.5 billion yen by 55.3 billion yen.
 Other income/loss decreased by 1.9 billon yen.
Operating profit and net profit also decreased.

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3 This slide shows the change in segments.
 As explained in the FY22 2Q financial results, we started our new
structure on October 1, 2021, based on the new organization.
This slide outlines the changes and how the businesses of the current
segments are reorganized.
 Starting from FY22 3Q, I will explain the financial results based on
the new segments shown on the right of this slide.

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4 This slide shows the results by segment.
 EBITDA is shown on the right side of this chart.
The figure of EBITDA for “Connect” is adjusted with the impact of
temporary accounting treatment related to “re-valuation of assets andliabilities” upon Blue Yonder acquisition.
 I will explain the details of sales and operating profit in the next few
slides.

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5 This slide shows our sales analysis by segment.
 Overall sales increased with increased sales of such businesses as information &communication applications of Industry and automotive batteries of Energy, as well as newconsolidation of Blue Yonder; despite decreased sales of consumer electronics in Japan ofLifestyle and automotive solutions of Automotive due mainly to the impact from strong
demand in FY21.
 In Lifestyle, overall sales decreased largely affected by decreased sales in Japan for washingmachines having supply issues, cooking appliances impacted by FY21 stay-at-home demand,and other segment products such as TVs. On the other hand, we had stable sales ofconsumer electronics, such as washing machines, in China, commercial refrigeration & foodequipment in North America, and air-conditioning in Europe.
 In Automotive, sales decreased from the impact of FY21’s automobile production recovery
and continuously affected by reduced automobile production, mainly due to shortages ofsemiconductors, parts & materials. But sales improved from FY22 2Q.
 In Connect, increased sales were driven by mounting machines with favorable market
conditions of PCs and servers, projectors reflecting recovery trends mainly in the U.S. andEurope, as well as the new consolidation impact of Blue Yonder. On the other hand, sales ofnotebook PCs decreased due to parts & materials issues.
 In Industry, sales increased with favorable sales of industrial-use motors, capacitors for
information & communication infrastructure as well as for automotive use, and EV-use relays.
 In Energy, sales increased mainly with EV batteries and power storage systems for data
centers, despite the impact of the dry battery business transfer in Europe.
 Within Other/Elimination & adjustments, in Entertainment & Communication, sales decreased
for such businesses as TVs, affected by FY21’s stay-at-home demand and difficulties inprocuring parts & materials such as semiconductors.
In Housing, sales increased with the launch of new products for the “new normal” andaccelerated digital marketing.
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6 This slide shows our operating profit analysis by segment.

 Overall adjusted operating profit decreased largely affected by raw material pricehikes, mainly in Lifestyle such as consumer electronics and air-conditioning, as wellas temporary negative factors such as impact of temporary accounting treatment
related to “re-evaluation of assets and liabilities” upon Blue Yonder acquisition,
despite increased profit with increased sales of Industry and Energy.
Overall operating profit also decreased.
 In Lifestyle, profit decreased impacted by FY21 stay-at-home demand in Japan,
raw material price hikes, and the recording of temporary expenses; despite
increased overseas sales and efforts such as rationalization were made at eachbusiness.
 In Automotive, profit increased due to cost reduction efforts and the impact ofrecording temporary expenses related to onboard charging systems in FY21,
despite decreased sales and parts & materials price hikes.
 In Connect, profit decreased with decreased sales of notebook PCs due to parts &materials procurement issues as well as the impact of temporary accounting
treatment related to “re-evaluation of assets and liabilities” upon Blue Yonder
acquisition and other factors, despite increased sales of mounting machines andprojectors.
 In Industry, profit increased with increased sales of industrial-use motors,
rationalization efforts and other factors, despite impact of raw material price hikes.
 In Energy, profit increased with increased sales of such products as automotive
batteries and power storage systems for data centers, despite the impact of the drybattery business transfer in Europe and other factors.
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7 This slide shows the results of Lifestyle by divisional company.
As shown in the chart, both adjusted operating profit and operating profit decreased at alldivisional companies. I will explain each of the major factors.
 Living Appliances and Solutions Company was affected by FY21 stay-at-home demand inJapan and raw material price hikes, while sales increased in China.
To counter raw material price hikes, we are promoting price revisions in stages overseas
and rationalization of parts & materials through collaboration between China and Japan.
 In Heating & Ventilation A/C Company, profit decreased due to decreased sales of theindoor air quality business such as air purifiers, room air-conditioners in Japan, and raw
material price hikes, despite stable sales in Europe.
To counter raw material price hikes, we will promote such measures as replacing current
materials with alternatives, for example, switching from copper to aluminum to the extent
possible.
 Cold Chain Solutions Company was affected by raw material price hikes, procurement
issues and the recording of temporary expenses, despite stable sales in North America.
We are promoting major countermeasures: price revisions in North America to manage
increased raw materials prices and reduction in the number of different parts to deal withprocurement issues.
 In Electric Works Company, profit decreased due to parts & materials procurement issues
in Lighting and other businesses and the impact of fire at suppliers’ factories in electricalconstruction materials businesses. This occurred despite increased sales overseas andreduced fixed costs.
The Impact of the fire incidents is expected to ease from 4Q. And we aim to achieve
overall recovery through price revisions of electrical construction materials overseas
to counter raw material price hikes.
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8 This slide shows the situation of FCF and cash positions FY22 3Q.
 FCF was a positive of 4.3 billion yen as shown on the left.
This is due to the temporary deterioration of working capital due
mainly to such external factors as port congestion, and increased
inventories by strategically securing parts & materials.
 Net cash decreased to a negative of 755.0 billion yen from
194.5 billion yen at the end of FY21 as shown in the line graphon the right.
 Furthermore, the bridge loan for the Blue Yonder acquisition was
already refinanced with 400.0 billion-yen in subordinated bonds,
issued in October 2021.
These are in accordance with the financing plan we explained at
the announcement of the Blue Yonder acquisition on April 23, 2021.

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9 Next, this slide explains the impact from FY22 3Q changes in the businessenvironment.
 The issues of factory lockdowns for COVID-19 are on the path to being
solved. However, we still face the continuing impact of raw material pricehikes and shortages of parts & materials, including semiconductors.
 This chart shows, at-a-glance, the impact on each segment by the changes
in demand, raw material price hikes, and parts & materials shortages.
The light-blue-shaded areas show factors with a positive impact comparedto FY21. The light-red-shaded areas, a negative impact.
Furthermore, the future outlook is indicated by the arrows.
 For the changes in demand, Lifestyle and Automotive were impacted byincreased demand in FY21. On the other hand, Industry and Energy areexperiencing continuous favorable demand.
 For raw material price hikes, Lifestyle and Automotive were mainly impacted.
However, Industry and Energy were able to mitigate this impact by
rationalization efforts and other measures.
 For parts & materials shortages including semiconductors, all segments
except Energy were affected.
 We will take effective measures to deal with changes in the businessenvironment while continuing to assess the impact of these changes.
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10 From this slide, I will explain the full-year forecast for FY22.

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11 This slide shows the consolidated financial forecast for FY22.
 Adjusted operating profit is revised downward and other income/loss isrevised upward. The factors for revisions are as follows: Adjusted operating profit is revised downward by 35.0 billion yen to
365.0 billion yen, reflecting the current management environment
including reduced automobile production and raw material price hikes,
as well as such negative factors as the impact of temporary accounting
treatment upon Blue Yonder acquisition.
 Other income/loss is revised upward by 35.0 billion yen to 5.0 billion yen
due to expected gains from sale of assets and other factors in 4Q.
 Operating profit and net profit remain unchanged.

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12 This slide shows the forecasts by segment.

 I will explain the revision factors from the next slide.

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13 In Lifestyle, the sales forecast remains unchanged. However, adjusted operating profit isrevised downward due mainly to decreased sales of Heating & Ventilation A/C business,
price hikes of raw materials and logistics costs, procurement and production issues,
as well as the recording of temporary expenses.
 In Automotive, sales is revised downward due to the impact from reduced automobile
production. Adjusted operating profit is also revised downward due to the increased
impact from decreased sales and parts & materials price hikes.
 In Connect, both sales and adjusted operating profit are revised downward due mainly tothe impact of temporary accounting treatment related to “re-evaluation of assets andliabilities” upon Blue Yonder acquisition.
 In Industry, sales is revised upward, mainly with increased sales of capacitors andother segment products.
Adjusted operating profit is also revised upward due to increased sales and fixed-cost
reduction through enhancement in management structure.
 In Energy, sales is revised upward due to yen depreciation. However, adjusted operating
profit remains unchanged from the previous forecast of October 28, with factored-in
current price hikes of raw material and logistics costs, despite the effect of yen
depreciation.
 In Other/Eliminations & adjustments, adjusted operating profit is revised downward.
This is due mainly to decreased sales in Entertainment & Communication caused byparts & materials shortages and other factors, as well as increased elimination forintercompany profits due to increased inventories.
 Other income/loss is revised upward due to expected gains from the sale of assets andother factors in FY22 4Q.
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14 This slide shows the forecast of Lifestyle segment by divisional company.
 Adjusted operating profit is revised downward for all divisional companies,
except Living Appliances and Solutions Company.

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15 Next, I would like to explain the financial results for the three years of
the current Mid-term strategy, based on the forecast I announced today.
 As you can see in the chart below, we have been enhancing ourmanagement structure, including fixed-cost reductions and measures tobusinesses with loss-making structures. As a result, we expect to achieve
profit contributions of 130.0 billion yen during this three-year period andthus to exceed our original target of 100.0 billion yen.
 We have been experiencing enormous changes in the external businessenvironment, such as COVID-19. However, we have continued to enhance
our management structure. The financial results in the current three-year
period demonstrate steadily improving profitability, based on the forecastof February 2, 2022.

 We are continuing to take these initiatives in FY22 4Q so we can go a stepfurther with the new medium-term strategy starting from next fiscal year.

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16 Finally, this slide shows our planned schedule for IR activities going forward.
 On October 1, 2021, we started our new structure based on the neworganization.
 On April 1, 2022, Panasonic will transition to the operating company system,
and Group CEO Kusumi is scheduled to announce our new strategy.
In addition, in early June, we are planning to host an IR Day event withpresentations given by each operating company.

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17 Thank you very much for your kind attention.

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