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Good afternoon,
I’m Yuki Kusumi, Group CEO of Panasonic Holdings Corporation.

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Thank you very much for participating in this online briefing,
despite your very busy schedule.

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Before we start, I would like to express my concerns regarding
the current situation in Ukraine. I offer my deepest condolences to those
who have lost family members, and I hope the world will return to peace andsecurity as soon as possible.

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Now, I would like to start today’s briefing on our Group strategy.

© 2022 Panasonic Holdings Corporation

•First, before explaining the details of our new medium- to long-term strategy,
I would like to touch on the start of our new structure andlook back on the previous medium-term period.

© 2022 Panasonic Holdings Corporation1•

Today, April 1, 2022, we changed our corporate name from
Panasonic Corporation to Panasonic Holdings Corporation.
At the same time, we transitioned to a new Group structure by establishing
operating companies as independent legal entities.

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As we have explained, the name Panasonic Corporation has been taken by
the previous “Lifestyle Updates Business Division,” which was established
as a divisional company in October 2021.

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Under the new Group structure, operating companies play the main role and,
therefore, we call this system an “operating company system.”•

Each operating company will make contributions to society and customers,
implement thorough autonomous management and accelerate theenhancement of competitiveness.

© 2022 Panasonic Holdings Corporation2•

Next, I would like to look back on our achievements during the previous mediumterm period.

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During the three years of FY20 to FY22, we focused on two initiatives:
Eliminating losses from businesses with loss-making structures and enhancing ourmanagement structure.

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As a result, our cash generation capability has been steadily improving despite
experiencing major external business environment changes, including COVID-19.

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At the briefing held May 2021, I set two years, FY22 and FY23, as the period tofocus on enhancing competitiveness to further improve profitability.
So we will continue with this management effort this year.

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However, looking back on the first year, FY22, we did take a step forward inenhancing competitiveness, but there is still room for improvement tomore firmly embed autonomous management. Thus, during the second year, FY23,
we need to make further efforts for thorough implementation.

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As for the challenges we should take up, in formulating our strategies, we first need
to focus on a long-term and customer perspective.
In a rapidly changing world, I believe we should envisage major social changes
instead of simply looking at a period of two to three years.
What is best for our customers? And how we can translate our great mission into
actually achieving our goal by back-casting from those changes.

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Second, we should improve our adaptability to changes and make our management
speedier, to an outstanding level. In order to do this, we must eradicate wastefulness,stagnation, and rework that still exist in many of our business frontlines, so that all
employees can focus on truly value-added activities. Furthermore, creating a systemand corporate culture that “maximizes the potential of each employee” will benecessary.

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In today’s new medium- to long-term strategy briefing, I would like to explain ourGroupwide vision and measures to achieve the future goals of each business, basedon the challenges we need to take up.

© 2022 Panasonic Holdings Corporation

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Now, I will explain the details of the new medium- to long-term strategy.

© 2022 Panasonic Holdings Corporation

4•This slide shows the future direction of the Panasonic Group.

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Our founder proclaimed that we should achieve “an ideal society withaffluence both in matter and mind.” Toward this aim, our mission today is tocontribute to solving global environmental issues and to support the healthand well-being of people around the world, both in mind and body, in their“lifestyle” and “workstyle.”•

Therefore, by becoming unrivaled in accomplishing valued work, we canmake great contributions. Accordingly, we will be able to return profit tosociety and our employees. Moreover, we can make investments towardfurther contributions.
I believe this is the cycle that leads to enhancing our competitiveness.

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To enhance competitiveness, “strategy” and “operational capability” areindispensable to each other:- “Strategy” built upon long-term perspectives, not simply focusing on
short-term profit or extending the current situation.
- “Operational capability” to speed up any business frontlines by
eradicating wastefulness & stagnation.

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To attain such strong competitiveness, we will thoroughly implement our
Basic Business Philosophy and continue to make contributions to the“environment” as well as well-being in “lifestyle” and “workstyle” towardachieving an ideal society.

© 2022 Panasonic Holdings Corporation

5•This slide shows an outline of our new medium- to long-term strategy.
The details of each item will be explained in later slides.

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In the past medium-term strategies, the main objective tended to beachieving sales and profit, in particular, operating profit margin in the final
year of a three-year period.

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With this new medium- to long-term strategy, we will shift to“longer perspective management”:
Considering the changes Panasonic can bring to society by around 2030,
we aim to become unrivaled in competitiveness in terms of speed and scale,
being in harmony with our employees and business partners.

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First, I will explain the details of the Group’s long-term environmental vision,“Panasonic GREEN IMPACT,” toward 2050 as an example of thecontributions we can make to solving global environment issues, which is anurgent challenge we face.

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Second, I will explain the details of medium-term KGIs, our investment
policy that drives our future growth with a long-term perspective and also ourglobal strategy.

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Finally, I will elaborate on the important Groupwide initiatives taken towardenhancing the competitiveness of each operating company,on implementation of “management that maximizes the potential of each
employee,” and on “PX” & “Gemba (operational frontlines) Innovations”
aimed at thorough enhancement of competitiveness, including operational
capability.

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Details of each operating company’s strategies for well-being in “lifestyle”
and “workstyle” will be explained by the heads of each operating company at
the IR Day event in June 2022.

© 2022 Panasonic Holdings Corporation

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•In this slide, I will explain “Panasonic GREEN IMPACT.”•In May 2021, we announced our commitment to“achieve net zero CO2 emissions at all operating companies by 2030.”•

At CES in January 2022, we announced the Group’s long-term environmental
vision: “Panasonic GREEN IMPACT.”This shows our firm commitments to “ACT” to:- take responsibility for reducing 110 million tons of CO2 emissions in ouroverall value chain, including emissions from the use of sold products, and- make a positive impact to increase size of contribution in CO2 reductions
for society through our wide range of business activities.

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However, detailed numerical targets were not previously set.

© 2022 Panasonic Holdings Corporation

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Today, as numerical targets, we announced our aim to creating an impact that
reduces CO2 emissions by more than 300 million tons, equivalent toapproximately 1% of the current global emissions, by 2050.
This will be achieved through the entire Group’s business activities.

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There are three parts to this major effort.

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The first part is emissions reduction in our own value chain, which is
110 million tons.
We will achieve net-zero emissions through the acceleration of ourenergy-saving initiatives, in addition to the effect of decarbonization occurring insociety, which will progress toward 2050.

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The second part is the so-called “Avoided Emissions, or contribution in reducing
CO2 emissions for society,” achieved by our existing businesses.
In this category, we target a reduction of 100 million tons through- expansion of environment-friendly vehicles with our automotive batteries,- supply chain software, and- energy-saving technologies in products such as air quality & air-conditioning,
to reduce consumption at the customer side.

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The third part is “Avoided Emissions” through new technologies and businesses.
Here, we target a reduction of 100 million tons through the transformation ofrenewable energy consumption by society and the innovation of new technologies
and solutions such as hydrogen energy.

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All together, we aim to achieve an overall reduction of more than 300 million tonsof CO2 emissions.

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We set Panasonic GREEN IMPACT as the center of the new medium- to longterm strategy, and we will make strategic investments as well as take actions forour contributions, which I will explain later.

© 2022 Panasonic Holdings Corporation8•

Next, let me touch on our medium-term KGIs.

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As a Group, our cash-generation capability is essential, particularly,
for tax payments, dividends, and employee’s salaries. It is also necessary
for investments in our future contributions to society.
Therefore, we will set cumulative operating cash flow for the next
three-year period as one of our medium-term management indicators.

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More specifically, we aim for 2.0 trillion yen of cumulative operating cash
flow and 1.5 trillion yen of cumulative OP over the three years of
FY23 to FY25.

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To achieve these targets, we must thoroughly enhance competitiveness ateach operating company.
In this regard, for instance, China & Northeast Asia Company managed todecrease manufacturing costs by over 20% in home appliances asa part of competitiveness-enhancement initiatives. This gave us confidence
to compete against our peers in pricing, while also securing profit, even in avery competitive market like China.
This is just one example showing us there is still a lot of room for
improvement in cost competitiveness and profitability as a Group.

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In addition, we will set ROE of 10% or more by FY25 as another mediumterm management indicator. This measures the cost of capital efficiency.

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For the operating companies, cumulative operating cash flow and ROIC are
set as medium-term management indicators.

© 2022 Panasonic Holdings Corporation

9•This slide shows our investment policy under the new medium- tolong-term strategy.

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In principle, each operating company will make investments with the cash
generated through its own business, and aim for further growth in eachbusiness area toward its long-term goals.

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With “strategy” formulated from a long-term perspective and “operational
capability” strengthened by the elimination of wastefulness and stagnation at
all operational frontlines, or in other words, by enhancing competitiveness, wewill accumulate cash and aim for 2.0 trillion yen of cumulative operating cash
flow.
Later, I will give an illustrative example of strengthening our operational
capability.

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And, while maintaining financial discipline, we will make Groupwide strategic
investments with the cash generated through enhancing competitiveness, aswell as the investments made by each operating company.

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A total of 600 billion yen in three years will be invested to achieve our futuregoals:
400 billion yen in “growth areas” and 200 billion yen in “technology pillars.”© 2022 Panasonic Holdings Corporation

10•Panasonic will make medium- to long-term investments in three growthareas toward future goals.

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First, let’s look at the automotive battery area.
From the global environment perspective, it is essential that the cost andsafety level of EVs far surpass those of cars with internal combustion
engines.

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To reach this target, we will make Groupwide investments to thoroughly andrapidly strengthen battery capacity, safety, and cost competitiveness.

•More specifically, we will commercialize new high-capacity cells with a 46mm diameter, at the fastest speed within industry, by refining our high quality
and safer automotive battery technologies, as well as achieving industryleading cost competitiveness.

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First, we will verify productivity at our Wakayama factory in Japan, withmass production set to start in FY24.

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In addition, from a sustainability perspective, it is essential to consider theuse of precious and limited materials. With our lithium-ion batteries, we havealready achieved a significant reduction of cobalt, a rare and indispensable
metal. Our battery contains less than 5% cobalt as of 2021. We havealready completed development of technologies to produce cobalt-free cells,
and we are nearly at the stage of being able to start their mass production
according to customers’ needs.

© 2022 Panasonic Holdings Corporation

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Second, I would like to explain our investments in supply chain software.

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Due to the declining working population, we are facing labor shortage issues
at the gemba (operational frontlines) of manufacturing and logistic industries.
Consequently, there are strong demands for higher efficiency andstandardization.
Therefore, solutions that autonomously improve the overall supply chain arenecessary.

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Even if solutions run autonomously, there is a limit to how swiftly we can
optimize the gemba, since they require a higher level of skills.
Therefore, such solutions are needed to enable people at the gemba toeliminate wastefulness and stagnation in the overall supply chain without
requiring special knowledge.

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To achieve these aims, we will offer a wide range of software solution
packages and optimize operational processes by collection, accumulation,
analysis and utilization of various data at the gemba. Through thesesolutions, we will contribute to optimizing the overall supply chain andimproving the efficiency of management for our customers.

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In addition, through enhancing the accuracy of Blue Yonder’s AI,
their software solutions will also continue to evolve.

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At the same time, we will contribute to reductions in the negativeenvironmental impact through energy savings, which can be achieved byeliminating wastefulness and stagnation in the overall supply chain.

© 2022 Panasonic Holdings Corporation12

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As the third type of investment, I would like to discuss air quality andair-conditioning.

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Due to COVID-19, there have been growing demands for alleviating
people’s anxiety about bacteria and viruses. Also, since air-conditioning
equipment consumes a large portion of the global electric power, we canmake huge contributions to the global environment, even as people enjoy
clean and safe air as well as a comfortable lifestyle.

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To achieve this goal, Panasonic will continue to develop such unique
technologies as “nanoe X,” “Ziaino,” and humidity control technologies.
In addition, Panasonic will develop an advanced coordinated system that
integrates air quality and air-conditioning to manage both comfort andenergy savings.

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Furthermore, we will make investments, mainly in Europe, China and Japan- to establish foundations for sales, engineering and services tocontinuously offer customers clean, safe and environment-friendly air,and- to expand our lineup of advanced coordinated products.

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By integrating our customer contacts with our knowledge and technologies,
accumulated in over 100 years of R&D, we will
"Vitalize the future with air."© 2022 Panasonic Holdings Corporation13

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Next, I would like to explain our global strategy.
Panasonic will implement strategies that address local customers according toregional characteristics and that benefit from enhanced operational capability.
Through these businesses, we will expand Panasonic GREEN IMPACT.

•In China, we will set roots in the local market. And we will refine the costcompetitiveness and speed of management nurtured in China, to become the “bestlifestyle partner” from the perspectives of environment, health, elderly care andcleanliness.
In lifestyle appliances, we will apply our cost competitiveness and management
speed acquired in China to markets throughout other Asian regions.
In automotive and factory automation, we will continue to localize operations, fromproduct planning to sales, and expand our contributions to our customers.

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In North America, we will take advantage of our local presence and aim to help
Groupwide growth. More specifically, we will rapidly refine our software capability
where new business and technological innovation take place.
This will make contributions to solving issues of the frontlines and to optimizing ourcustomers’ supply chains.
In Avionics, we will develop and propose in-flight entertainment systems that are
more light weight by collaborating with aircraft manufacturers, which will help toreduce the fuel consumption of aircraft.

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Europe is regarded as an advanced and important region for environmental
regulations and global rule-making.
We will expand businesses in- Air-to-Water technologies, with increasing demand for environmental concerns,
and- integrated air quality and air-conditioning systems suitable to the European
market.

© 2022 Panasonic Holdings Corporation14

•

Next, I will explain two examples for investment in technology pillars,
which we will enhance to achieve future goals.
First, our initiatives in hydrogen energy.

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To achieve carbon neutrality, it is essential- to significantly reduce the use of fossil fuels in power supply sources, and- to introduce renewable energies at a larger scale.

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However, renewable energies such as solar and wind power generation are notstable due to weather conditions. Therefore, we need to accelerate full-scale
implementation of hydrogen energy to handle such unstable renewable energy.
We do have the industry-leading high-efficiency electrode technology, andwe will apply this technology to producing hydrogen. Also, we will develop highefficiency hydrogen power generation technology based on our electrodetechnology. Through these initiatives, we will contribute to the stabilization of thepower grid.

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The development of high-efficiency fuel cells is already underway. We will apply
this to the next-generation residential fuel cell system ”ENE-FARM“ and the purehydrogen fuel cell generator “H2 KIBOU.” Through these efforts, we willcontribute to the acceleration of decarbonization in the power-generation field.

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Moreover, we aim to establish energy management technologies that link
- distributed energy located in various facilities such as houses, factories,- power storage systems, and- EVs.
Accordingly, we will improve the effective use of electric power and contribute toclean energy transformation for society.

© 2022 Panasonic Holdings Corporation15

•

Next, I will explain our initiatives in a Cyber Physical System or CPS.

•CPS includes technologies that rapidly enable users to find and offer
optimum solutions for issues in “lifestyle” and “workstyle” by linking thephysical, or real, world and cyber space.

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Let me explain this concept in a real business context.
Panasonic is trying to better understand what our customers really need intheir real lifestyle through our products. Using AI & software technologies
will help us to understand this, and we aim to bring better value in lifestyle
experience with our products and other services.
Toward achieving this goal, we will leverage the experience and high level oftechnologies gained from Yohana’s lifestyle services business that westarted in the U.S. in September 2021 and thus become more flexible andquicker in satisfying ever-changing customer values.

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Moreover, we are engaged in R&D for the technologies that recognize“people” and aim to create new value for customers, according to theirvarious living situations. The core of this work involves “biosensing &emotion recognition” technologies. Users can visualize issues in physicalspace by modelling people’s emotions and conditions in cyber space, thus
allowing the users to provide optimal solutions. We will expand thistechnology to a wide range of businesses, including offices, lifestyle, andautomobile space.

•As for “workstyle” situations, we will continue to develop digital technologies
to visualize and optimize wastefulness at the gemba.
I will elaborate upon these when I talk about “Gemba Innovations” later.

© 2022 Panasonic Holdings Corporation

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•This chart shows Panasonic’s Groupwide technology pillars including
technologies that I explained in the previous slides toward an ideal society
with affluence both in matter and mind. We will strengthen technology pillars
which contributes to “environment” and well-being of “lifestyle” and“workstyle” as a Group.

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We will also proactively invest in ventures in our search for new technologies.

© 2022 Panasonic Holdings Corporation17

•

Lastly, I will explain Groupwide key measures toward enhancing
competitiveness at each operating company.

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Our employees will play the major role in enhancing competitiveness.
So I will talk about “management that maximizes the potential of each
employee.” Then, about Groupwide “DX” and “Gemba Innovations” asmeasures to thoroughly enhance competitiveness including operational
capability.

© 2022 Panasonic Holdings Corporation18

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As for management that maximizes the potential of each employee, we willattentively listen to employees who are willing to take up challenges, and thencreate a working environment that maximizes the potential of uniquecharacteristics.

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In order to do this, we will first provide equal opportunities for employees who
have diverse characteristics. To accommodate the various backgrounds andsituations of our employees, we will introduce various ways of workstyle sothey will be able to continue to initiate their own actions.

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And we will introduce job-type employment in HR management to clarify therequired role, responsibility, and skills. We will continue to support improving
skills through training programs, and other means. In addition, we will
eliminate excessive burdens in promotion and screening, so more employees
will be able to take up the challenge of earning a higher position, regardless of
their situation.

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We will also support each employee in taking up challenges.
HR and development systems will be optimized according to each operatingcompany, supporting employees acquiring the specialty skills required in eachbusiness. And we will revise the internal recruitment system by easing
application requirements to activate the exchange of human resources beyond
operating companies, and to further generate opportunities to take up
challenges.

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Through these measures, we will create a working environment thatmaximizes the potential of the diverse capabilities and unique characteristics
of our employees, thus enhancing competitiveness ateach operating company.

© 2022 Panasonic Holdings Corporation

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•In this slide, I will explain Panasonic Transformation (PX) toward enhancing
competitiveness by DX.

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Since last year, we have been implementing Panasonic Transformation (PX) totransform our workstyle and business processes, beyond IT transformation.

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In workstyle innovation, we will eliminate work that does not create added value
and make work more efficient through the use of IT.
More specifically, we will reduce the workload of our employees, in particularthat for middle management. For example, middle management is overloadedwith work such as personnel matters including timesheet management andaccounting management.
We will unburden middle management of these duties through greater
efficiency based on using IT.

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In business process innovations, we have started with various initiatives,
distinguishing between- actions that can be handled by operating companies and- actions that should be handled by the Panasonic Group as a common target
based on economies of scale.
They range from R&D, design, manufacturing and sales to procurement.
In this Panasonic Transformation (PX), we will invest 124 billion yen for
the three-year period of FY23 to FY25.

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We have already identified 150 themes for changing workstyle and businessprocesses. Panasonic Transformation (PX) will support competitivenessenhancement at the operating companies with DX.

© 2022 Panasonic Holdings Corporation20•

Next, I will show a video introducing our “Gemba Innovation” initiatives
to strengthen operational capabilities for the overall supply chain with akaizen mindset and digital technologies.
（Video）•

The idea of making the gemba lean, to contribute to the global environment
and the happiness of the people working there, can be applied anywhere
beyond Panasonic.
We will make contributions to our corporate customers fromthe perspectives of- their management and supply chains,- reductions in their environmental impact, and- the well-being of their employees.

© 2022 Panasonic Holdings Corporation21•On March 30, we placed advertisements in major Japanese newspapers regarding
the start of our new structure.

•“Live Your Best” - this is the new brand slogan for the Panasonic Group.

•

Our founder, Konosuke Matsushita, aimed toward “prosperity with matter and mind as one”
throughout his life. Back in 1932, he recognized the mission of a company as“the true mission of industrialists: only after there is spiritual peace of mind and a limitless
supply of material goods will humanity achieve true happiness.”
He set his aim to achieve this with the so-called “250-year plan.”•

Konosuke described 1932 as the first year of Meichi, which means “recognizing the mission.”
This year is the 91st year of Meichi.

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In our Basic Management Objective, it is stated: “We will devote ourselves to the progress anddevelopment of society and the well-being of people through our business activities, thereby
enhancing the quality of life throughout the world.”
This expresses our aim “to achieve affluence both in matter and mind together.”•

Our former brand slogan, “A Better Life, A Better World,” directly expressed our BasicManagement Objective. However, there were cases where we would try to offer “better”
products from a self-centered perspective, lacking a proper understanding of the slogan and themain idea behind the Basic Management Objective, without sufficiently thinking of customers’
perspectives.

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Therefore, we have decided to adopt this new slogan, “Live Your Best,” to remind all of us of
our mission: to contribute to “prosperity with matter and mind as one for humanity to achieve
true happiness,” revisiting our true mission that Konosuke recognized in the first year of Meichi.

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This slogan also embodies my hope that each employee will turn their thoughts toeach customer’s happiness.

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Toward what we aim to be in 2030, everyone at all operating companies of thePanasonic Group is determined to continue our efforts to help our customers live their best.

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Please stay tuned for more developments from the Panasonic Group.

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Thank you very much for your kind attention.

© 2022 Panasonic Holdings Corporation22

© 2022 Panasonic Holdings Corporation23

© 2022 Panasonic Holdings Corporation