Management Direction
Under New System
Yuki Kusumi, Group CEO
Panasonic Corporation

October 1, 2021
Notes: 1. This is an English translation from the original presentation in Japanese.
2. In this presentation, “Fiscal 2022” or “FY22” refers to the year ending March 31, 2022.

My Thoughts After the First 100 Days

Panasonic Group has great potential
in many areas & operational frontlines

To enhance competitiveness and make contributions to society,we must first return to the basics of management© 2021 Panasonic Corporation

Copyright (C) 2021 Panasonic Corporation All Rights Reserved.

1Return to “Basic Business Philosophy”

Basic Business Philosophy
It defines “Basic Management Objective,”“Company Creed” and “Seven Principles” as thebasis of Konosuke Matsushita’s management
philosophy and way of thinking in implementing it

Major revision for first time in 60 years ─To encourage employees to rediscover
the origins of the basic ideas andguidelines of conduct

Employee handbook

Basic Business Philosophy© 2021 Panasonic Corporation

2Group Management
Based on Basic Business Philosophy− Aim to achieve an ideal society with affluence basedon “matter and mind as one”
− Become unrivaled in accomplishing valued work sothat customers select Panasonic’s products & services− Faithfully practice the customer-comes-first attitude,
more than anyone else
− Profit is a result: it should be returned to society &employees and invested in the future− Implement “autonomous responsible management &employee entrepreneurship”− Create culture in which “employees can say what they
have to say” and promote management throughcollective wisdom− Promote management that “maximizes potential of ourhuman resources”
Japanese version of Panasonic Group’s Basic Business Philosophy(English version will be available soon)© 2021 Panasonic Corporation

Copyright (C) 2021 Panasonic Corporation All Rights Reserved.

3

Aim of Operating Company System
Management based on contributions to solving societaland environmental issues, envisaging a 10-year horizon− Clarify contributions each operating company will makereflecting changes in society from a long-term perspective− Drastically reform the way of formulating and following up
the new medium- to long-term strategies, starting FY23

Continuous enhancement of competitiveness− Move with strategy and operational capability, which areindispensable to each other− Set KPIs to enhance competitiveness of each business andevaluate its progress

4© 2021 Panasonic Corporation

Enhancing Competitiveness Thoroughly inAll Businesses
Panasonic Holdings Corporation

Other Group companies

Panasonic Energy Co., Ltd.

Panasonic Industry Co., Ltd.

Panasonic Connect Co., Ltd.

Panasonic Housing Solutions Co., Ltd.

Panasonic Entertainment & Communication Co.,Ltd.

Panasonic Automotive Systems Co., Ltd.

Electric Works Company*

Cold Chain Solutions Company*

Heating & Ventilation A/C Company*

Living Appliances and Solutions Company*

China and Northeast Asia Company*

Panasonic Operational Excellence Co., Ltd.

Each operating company will
− focus on enhancing competitivenessPanasonic Corporationto make contributions to society for two years− make their own investments for the future

Competitiveness is the fundamental value of each business:
Being selected by customers for unrivaled, valued workis the basis of contributing to customers and society
No classifications of “focus area” or “core business”(necessary investment scale and fundamental value ofbusiness are different)* Divisional company© 2021 Panasonic Corporation

Copyright (C) 2021 Panasonic Corporation All Rights Reserved.

5

Roles of Panasonic Holdings Corporation
1. Thoroughly implement Group’s Basic Business Philosophy
2. Ensure and support enhanced competitiveness to make greater
contributions to society and customers:
GX (Green Transformation), DX (Digital Transformation), Gemba Innovation,
Design Management, Brand Management, and various accelerated innovations

3. Attain management that maximizes potential of humanresources and build needed platforms
4. Accelerate where necessary: business selection & concentrationand taking inorganic measures to strengthen & revitalize
businesses
5. Respond effectively to critical risks from Group’s perspective

Enhance Group-wide foundation of management,
envisaging beyond the 10-year horizon set by operating companies
6© 2021 Panasonic Corporation

GX (Green Transformation)
Promote zero CO2 emissions from Panasonic andcontributions toward a “carbon neutral society”
Established roadmap to “Achieve zero CO2 emissions(carbon neutrality) at all operating companies in 2030”(Scopes 1&2*)

Toward 2050
− Reduce CO2 emissions from using Panasonic products (Scope 3*)− Reduce CO2 emissions by B2B/G customers through the Panasonic products &services we offer⇒ Aim for greater scale of “contribution in reduction” beyond emissions fromPanasonic’s value chain
Size of emissions
from Panasonic’svalue chain

Scopes 1&2SuppliersEmissions
directly fromPanasonic

2.2 MtScope 3

16.56 Mt
Emissions from using
Panasonic products

85.93 Mt

Emissions by
B2B/G customers“Size of contribution
in reducing CO2emissions”

Figures based on FY21
* GHG (Green House Gas) is classified and assessed according to the GHG Protocol, the international calculation standard© 2021 Panasonic Corporation

Copyright (C) 2021 Panasonic Corporation All Rights Reserved.

7

DX (Digital Transformation)

Support each business in promoting DX andraise the level of Group-wide IT management
infrastructure
Increase speed of managementby transforming existing work style andbusiness procedures

IT systemtransformation- Adjust according to each business andimprove swiftly- Accelerate move to cloud-based
systems- Establish data-driven infrastructure© 2021 Panasonic Corporation

8

Management that Maximizes
Potential of Our Human Resources
Make contributions to society
by maximizing our collective, diverse talent while
having each individual employee take up
challenges and act proactively
Establish HR system and start its operation to makethe most of our diverse, unique capabilities- Human resources exchange across operatingcompanies- Promote DEI (Diversity, Equity & Inclusion)© 2021 Panasonic Corporation

Copyright (C) 2021 Panasonic Corporation All Rights Reserved.

9Disclaimer Regarding Forward-Looking Statements
This presentation includes forward-looking statements about Panasonic and its Group companies (the Panasonic Group). To the extent
that statements in this presentation do not relate to historical or current facts, they constitute forward-looking statements. These forwardlooking statements are based on the current assumptions and beliefs of the Panasonic Group in light of the information currently available
to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause thePanasonic Group's actual results, performance, achievements or financial position to be materially different from any future results,performance, achievements or financial position expressed or implied by these forward-looking statements. Panasonic undertakes noobligation to publicly update any forward-looking statements after the date of this presentation. Investors are advised to consult any further
disclosures by Panasonic in its subsequent filings under the Financial Instrument and Exchange Act of Japan (the FIEA) and otherpublicly disclosed documents.
The risks, uncertainties and other factors referred to above include, but are not limited to, economic conditions, particularly consumer
spending and corporate capital expenditures in the Americas, Europe, Japan, China and other Asian countries; volatility in demand forelectronic equipment and components from business and industrial customers, as well as consumers in many product and geographicalmarkets; the possibility that the spread of the novel coronavirus infections may adversely affect business activities of the PanasonicGroup; the possibility that excessive currency rate fluctuations of the U.S. dollar, the euro, the Chinese yuan and other currencies against
the yen may adversely affect costs and prices of Panasonic’s products and services and certain other transactions that are denominatedin these foreign currencies; the possibility of the Panasonic Group incurring additional costs of raising funds, because of changes in thefund raising environment; the possibility of the Panasonic Group not being able to respond to rapid technological changes and changing
consumer preferences with timely and cost-effective introductions of new products in markets that are highly competitive in terms of bothprice and technology; the possibility of not achieving expected results or incurring unexpected losses in connection with the alliances ormergers and acquisitions; the possibility of not being able to achieve its business objectives through joint ventures and other collaborative
agreements with other companies, including due to the pressure of price reduction exceeding that which can be achieved by its effort anddecrease in demand for products from business partners which Panasonic highly depends on in BtoB business areas; the possibility of
not achieving expected benefits in connection with the transition to a new organizational system in which Panasonic is a holding
company; the possibility of the Panasonic Group not being able to maintain competitive strength in many product and geographical areas;
the possibility of incurring expenses resulting from any defects in products or services of the Panasonic Group; the possibility that thePanasonic Group may face intellectual property infringement claims by third parties; current and potential, direct and indirect restrictions
imposed by other countries over trade, manufacturing, labor and operations; restrictions, costs or legal liability relating to laws andregulations or failures in internal controls; fluctuations in market prices of securities and other financial assets in which the PanasonicGroup has holdings or changes in valuation of non-financial assets, including property, plant and equipment, goodwill and deferred tax
assets; future changes or revisions to accounting policies or accounting rules; the possibility of incurring expenses resulting from aleakage of customers’ or confidential information from Panasonic Group systems due to unauthorized access or a detection ofvulnerability of network-connected products of the Panasonic Group; as well as natural disasters including earthquakes, prevalence ofinfectious diseases throughout the world, disruption of supply chain and other events that may negatively impact business activities of thePanasonic Group. The factors listed above are not all-inclusive and further information is contained in the most recent English translated
version of Panasonic’s securities reports under the FIEA and any other documents which are disclosed on its website.

Copyright (C) 2021 Panasonic Corporation All Rights Reserved.