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July 30, 2025 Panasonic Holdings Corporation Notes: 1. This is an English translation from the original presentation in Japanese. 2. In this presentation, “Fiscal 2026” or “FY3/26” refers to the year ending March 31, 2026. Fiscal 2026 First Quarter Financial Results
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1© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results Summary of FY3/26 1Q Financial Results FY3/26 1Q Financial Results: Adjusted operating profit increased, even with including deconsolidation of Automotive ・ Sales: Increased in all segments, however overall sales decreased with deconsolidation of Automotive ・ Adjusted operating profit: Increased overall, due to increased profit in all segments offsetting impact of US tariffs and deconsolidation of Automotive ・ Net profit*1: Increased due to an improvement in income taxes, despite a deterioration in non-operating income/losses ・ Operating CF: Decreased YoY due mainly to deconsolidation of Automotive FY3/26 Forecast: ・ Groupwide: Remains unchanged (impact of US tariffs from 2Q onward not yet factored in) ・ By segment: Revised for Connect and Other/Eliminations & adjustments (details on page 14) <Major increase/decrease factors> + : Generative-AI related products (Industry, Energy) , Process Automation (Connect) - : Price revisions of automotive batteries reflecting lower raw material prices (Energy) *1: Net profit attributable to Panasonic Holdings Corporation stockholders
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Fiscal 2026 First Quarter Financial Results Fiscal 2026 Full-Year Financial Forecast
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3© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results FY3/26 1Q Results FY3/25 1Q Results YoY (year-on-year)Excl. Automotive*4 Excl. Automotive*4 Sales 1,896.7 2,121.7 1,867.2 89% (93%)*5 -225.0 (-153.5)*5 102% (105%)*5 +29.5 (+101.0)*5 Adjusted OP*1 (% to sales) 91.5 (4.8%) 84.3 (4.0%) 74.7 (4.0%) 108% +7.2 122% +16.8 Other income/loss*2 -4.6 -0.5 -4.5 - -4.1 - -0.1 OP (% to sales) 86.9 (4.6%) 83.8 (3.9%) 70.2 (3.8%) 104% +3.1 124% +16.7 Profit before income taxes (% to sales) 91.0 (4.8%) 104.7 (4.9%) - 87% -13.7 - - Net profit attributable to Panasonic Holdings Corporation stockholders (% to sales) 71.5 (3.8%) 70.6 (3.3%) - 101% +0.9 - - EBITDA*3 (% to sales) 189.9 (10.0%) 196.7 (9.3%) 171.4 (9.2%) 97% -6.8 111% +18.5 Exchange rates 1 US dollar 145 yen 156 yen 156 yen -11 yen -11 yen 1 Euro 164 yen 168 yen 168 yen -4 yen -4 yen 1 Renminbi 20.0 yen 21.5 yen 21.5 yen -1.5 yen -1.5 yen FY3/26 1Q Financial Results (yen: billions) YoY % figures represent the year-on-year change relative to the previous year's figures *4: Except for businesses not subject to the share transfer *5: Excluding effect of exchange rates *1: Sales - Cost of sales - SG&A *2: “Other income (expenses), net” + “Share of profit (loss) of investments accounted for using the equity method” as indicated in the Consolidated Statements of Profit or Loss of the news release *3: Total amount of Operating profit, Depreciation (Tangible assets including property, plant and equipment / Right-of-use assets) and Amortization (Intangible assets). Adjusted with amount equivalent to depreciation corresponding to underlying assets that are applied with Lease accounting treatment as a lessor, etc.
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4© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results Sales YoY (excl. FX) Adjusted OP (%) YoY Other income/ loss YoY OP (%) YoY EBITDA*1 (%) YoY Lifestyle 846.1 98% (102%) 33.8 4.0% +11.5 0.9 -0.5 34.7 4.1% +11.0 65.2 7.7% +12.1 Connect 303.5 104% (109%) 6.2 2.0% +1.2 -0.4 -1.4 5.8 1.9% -0.2 27.1 8.9% +2.2 Industry 283.5 103% (107%) 18.7 6.6% +1.0 0.7 +1.0 19.4 6.9% +2.0 34.6 12.2% +1.7 Energy 219.3 103% (111%) 31.8 14.5% +10.1 0.1 +0.2 31.9 14.5% +10.3 45.6 20.8% +6.2 Other / Eliminations & adjustments 244.3 - 1.0 -7.0 -5.9 +0.6 -4.9 -6.4 17.4 -3.7 Total 1,896.7 89% (93%) 91.5 4.8% +7.2 -4.6 -4.1 86.9 4.6% +3.1 189.9 10.0% -6.8 Excl. Automotive*2 - 102% (105%) - +16.8 - -0.1 - +16.7 - +18.5 FY3/26 1Q Results by Segment YoY % figures represent the year-on-year change relative to the previous year's figures(yen: billions) *1: Total amount of Operating profit, Depreciation (Tangible assets including property, plant and equipment / Right-of-use assets) and Amortization (Intangible assets). Adjusted with amount equivalent to depreciation corresponding to underlying assets that are applied with Lease accounting treatment as a lessor, etc. *2: Except for businesses not subject to the share transfer
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5© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results +20.1 -13.5 +9.0 +13.7 +26.6 +36.1 +1.0 +8.0 -71.5 Sales: Increased in all segments, however overall sales decreased with deconsolidation of Automotive FY3/25 1Q Industry In-vehicle Automotive- related Lifestyle Effect of exchange rates FY3/26 1Q Connect Entertainment & Communication Housing Headquarter- related & Eliminations Energy Industrial / Consumer, others 2,121.7 1,896.7 Excl. Automotive-related and effect of exchange rates: +101.0 (105%) Other/ Eliminations & adjustments Price revisions for lower raw materials: -20.0 -254.5 FY3/26 1Q Sales Analysis by Segment Major increase/decrease factors (excluding effect of exchange rates) YoY % figures represent the year-on-year change relative to the previous year's figures Lifestyle Increased overall: Increased sales of consumer electronics (Japan: at the same level, China: supported by subsidies); increased sales of HVAC (e.g. A2W in Europe); increased sales of electrical construction materials (mainly in Japan) Connect Increased: Increased sales of Process Automation, capturing demand for ICT as well as EV in China, in addition to increased sales of Mobile Solutions, Gemba Solutions and Blue Yonder Industry Increased: Increased sales of products (capacitors, multi-layer circuit board materials) driven by increased demand for information & communication applications such as generative AI servers Energy • In-vehicle: Decreased with price revisions reflecting lower raw material prices, despite increased sales volume at North America factory (+1.4GWh YoY) • Industrial / Consumer: Increased with favorable sales of energy storage systems for data centers Other/ Eliminations & adjustments • Entertainment & Communication: Increased with increased sales of intercoms and headphones • Housing: Increased with favorable sales of building materials and cross-selling products from other operating companies (yen: billions)
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6© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results Adjusted operating profit: Increased overall due to increased profit at all segments offsetting deconsolidation of Automotive +1.2 +6.2 +11.5 +1.0 -7.0 -9.6 FY3/25 1Q Industry Energy Automotive Other/ Eliminations & adjustments FY3/26 1Q Connect +16.8 (excl. Automotive) Lifestyle In-vehicle Industrial / Consumer, others84.3 91.5 FY3/26 1Q Adjusted Operating Profit Analysis by Segment Major increase/decrease factors Lifestyle Increased: Steady sales of washing machines and structural enhancement of cooking appliances business (both in the consumer electronics); sales recovery of A2W in Europe (HVAC); increased sales of electrical construction materials mainly in Japan Connect Increased: Increased sales (e.g. Process Automation, Mobile Solutions), despite increased strategic investments in Blue Yonder Industry Increased: Increased sales of products (capacitors, multi-layer circuit board materials) for information & communication applications such as generative AI servers, price revisions and rationalization, etc. Energy • In-vehicle: Increased: Increased sales at Nevada factory and increased IRA tax credit, despite increased upfront costs for ramp-up of Kansas and Wakayama factories • Industrial / Consumer: Increased: Increased sales of energy storage systems for data centers (yen: billions) +3.9
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7© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results Sales YoY (excl. FX) Adjusted OP (%) YoY Other income/ loss YoY OP (%) YoY EBITDA*1 (%) YoY Living Appliances and Solutions Company (LAS) 194.6 96% (100%) 13.0 6.7% +4.3 0.5 -1.2 13.5 6.9% +3.1 20.4 10.5% +3.1 Heating & Ventilation A/C Company (HVAC) 253.0 96% (100%) 13.6 5.4% +7.2 0.5 +0.2 14.1 5.6% +7.4 22.6 8.9% +7.3 Cold Chain Solutions Company (CCS) 96.5 92% (98%) 3.8 4.0% -1.4 -0.5 -0.7 3.3 3.4% -2.1 6.0 6.2% -1.9 Electric Works Company (EW) 241.7 105% (107%) 11.9 4.9% +1.4 -0.4 0.0 11.5 4.8% +1.4 19.6 8.1% +2.0 Lifestyle Segment: FY3/26 1Q Results by Divisional Company (yen: billions) YoY % figures represent the year-on-year change relative to the previous year's figures *1: Total amount of Operating profit, Depreciation (Tangible assets including property, plant and equipment / Right-of-use assets) and Amortization (Intangible assets)
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8© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results FY3/26 1Q Operating Profit Analysis (by Factor) +14.7 +2.8 -9.6 +30.0 -12.0 -5.8 -6.5 -6.4 -4.1 FY3/26 1Q FY3/25 1Q Operating profit: Increased due mainly to increased sales in real terms, despite impact of US tariffs and deconsolidation of Automotive, etc. 83.8 86.9 - ：Industry, Energy Restructuring expenses: -2.2 Adjusted OP: +16.8 (excl. deconsolidation of Automotive) OP: +3.1 - : Energy, Connect Impact of US Tariffs • Strategic investments: -4.2 • Inflation (personnel expenses, energy costs): -9.9 • Effect of restructuring: +2.1 ・Raw materials: +15.6 +: Energy -: Lifestyle, Industry ・ Logistics: -0.9 ・ Price revisions: -13.0 - : Energy +: Lifestyle, Industry ・ Rationalization, etc.: +15.8 Sales increase/decrease in real terms Fixed costs Raw materials, logistics Price revisions, rationalization, etc. Blue Yonder Effect of exchange rates Deconsolidation impact of Automotive Other income/loss (yen: billions)
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9© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results FY3/26 1Q Cash Flows and Cash Positions Cash Flows Gross cash & interest-bearing debt / Net cash End of FY3/25 End of FY3/26 1Q Gross cash*1 915.0 -745.7 813.9 Bonds, etc. Lease liabilities -1,559.6 Operating CF Investing CF FCF -1,568.2 -653.2 180.3 Net Profit -194.3 -14.0 FY3/25 1Q Operating CF 228.0 Operating CF decreased YoY due mainly to deconsolidation of Automotive *1: Gross cash: total of “Cash and cash equivalents” and time deposits and others included in “Other financial assets” (yen: billions) (yen: billions) Interest-bearing debt: Net cash: 203.3 (Excl. Automotive) Others
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Fiscal 2026 First Quarter Financial Results Fiscal 2026 Full -Year Financial Forecast
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11© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results FY3/26 (e) FY3/25 YoYExcl. Automotive*5 Excl. Automotive*5 Sales 7,800.0 8,458.2 7,785.0 92% (96%)*6 -658.2 (-358.2)*6 100% (104%)*6 +15.0 (+315.0)*6 Adjusted operating profit*1 (% to sales) 500.0 (6.4%) 467.2 (5.5%) 442.7 (5.7%) 107% +32.8 113% +57.3 Other income/loss*2 -130.0*7 -40.7 -46.3 - -89.3 - -83.7 Operating profit (% to sales) 370.0 (4.7%) 426.5 (5.0%) 396.4 (5.1%) 87% -56.5 93% -26.4 Profit before income taxes (% to sales) 410.0 (5.3%) 486.3 (5.7%) - 84% -76.3 - - Net profit attributable to Panasonic Holdings Corporation stockholders (% to sales) 310.0 (4.0%) 366.2 (4.3%) - 85% -56.2 - - EPS*3 132.79 yen 156.87 yen - - -24.08 yen - - ROE 6.5% 7.9% - - -1.4% - - EBITDA*4 (% to sales) 800.0 (10.3%) 869.7 (10.3%) 812.7 (10.4%) 92% -69.7 98% -12.7 Exchange rates 1 US dollar 140 yen 153 yen 153 yen -13 yen -13 yen 1 Euro 150 yen 164 yen 164 yen -14 yen -14 yen 1 Renminbi 20.0 yen 21.1 yen 21.1 yen -1.1 yen -1.1 yen FY3/26 Full -Year Forecast (Unchanged from Forecast of May 9, 2025) (yen: billions) YoY % figures represent the year-on-year change relative to the previous year's figures *5: Except for businesses not subject to the share transfer *6: Excluding effect of exchange rates *7: Including restructuring expenses (-130.0 bil. yen) *1: Sales - Cost of sales - SG&A *2: “Other income (expenses), net” + “Share of profit (loss) of investments accounted for using the equity method” as indicated in the Consolidated Statements of Profit or Loss of the news release *3: Basic earnings per share attributable to Panasonic Holdings Corporation stockholders *4: Total amount of Operating profit, Depreciation (Tangible assets including property, plant and equipment / Right-of-use assets) and Amortization (Intangible assets). Adjusted with amount equivalent to depreciation corresponding to underlying assets that are applied with Lease accounting treatment as a lessor, etc.
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12© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results Updates since the previous outlook analysis (May 2025)FY3/26 Outlook of Business Environment by Segment Segment Business Environment Lifestyle Consumer Electronics: Demand is expected to remain mostly flat in Japan, while demand is expected to remain at the same level YoY in China due to persisting economic downturn despite the continuation of subsidies HVAC: ・A2W in Europe: Gradual recovery of demand is expected, despite uncertainties regarding regulations and subsidy situations in each country ・ Room air conditioners: Favorable demand in Japan due to heat wave, while demand in Asia and India is weak due to unseasonable weather conditions Cold Chain: Orders showing upward trend, matching recovery of demand cycle in North America Electrical Construction Materials: Demand in Japan remains firm, with continued opportunities for solutions business orders; GDP growth expected to continue overseas (e.g., India) Connect Supply Chain Management: Continuous growth is expected in the SCM software market Aviation: Passenger demand is expected to recover close to pre-COVID levels; continuing to monitor the situation of quality & safety issues as well as supply chain issues in the aviation industry FA (mounting machines): Investment demand for ICT related to AI technology innovations is expected to increase Impact of US tariffs: Impact is expected in Avionics (in-flight entertainment systems) Industry Electronic Devices : Demand for generative AI servers continues to grow Electronic Materials: Demand for overall ICT infrastructure (e.g. mainly generative AI servers) is expected to grow FA Solutions (in China): Capital investment is expected to remain steady in 1H, supported by government policies; however, there is a risk of a slowdown in 2H Energy In-vehicle: Concerns remain over further slowdown in EV demand due to US tariff policies and termination of IRA 30D tax credit; however, long-term trend toward vehicle electrification is expected to continue at a certain level Industrial / Consumer: • Data centers: Demand of energy storage systems for data centers is growing more than anticipated with large-scale investments related to generative AI • Consumer, power equipment: Demand for power equipment (e.g. electric assisted bicycles) is on a recovery trend; demand for consumer devices is expected to be weak Impact of US tariffs: Impact is expected in in-vehicle (materials and cells), as well as in Industrial / Consumer (energy storage systems) Positive (YoY) Negative (YoY)
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13© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results 1. Maximize our advantages with US-based production capability - With IRA 45X tax credit continuing - Relatively low impact of US tariffs 2. Introduction of new cell technologies at Kansas factory (providing +5% in capacity vs. current cell type) 3. Close communication with strategic customer Automotive Batteries: Sales Volume Trends and Future Outlook for Factories in North America 4Q FY3/23 1Q 2Q 3Q 4Q FY3/24 1Q 2Q 3Q 4Q FY3/25 1Q 2Q 3Q 4Q FY3/26 Quarterly Trends in Automotive Battery Sales at Factories in North America (in GWh) • Maintain and enhance competitive advantages 38.1 GWh (per year)37.2 GWh (per year) 46.0 GWh (per year) Based on initial forecast* * Initial Forecast: As of May 9, 2025 Termination of IRA 30D ▼ Inauguration of US President Trump ▼ Start of IRA ▼ Start of production at Kansas factory ▼ １０GWh/Q Automotive Battery Sales Volume (GWh/Q) Due to market trends, it is necessary to assess the downside risk compared to initial forecasts, but we will leverage our relative competitive advantage in North America to ensure growth from the previous fiscal year. Initial Forecast*
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14© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results Sales YoY (excl. FX) Difference from previous forecast Adjusted OP (%) YoY Difference from previous forecast Other income/ loss YoY Difference from previous forecast OP (%) YoY Difference from previous forecast EBITDA*1 (%) YoY Difference from previous forecast Lifestyle 3,535.0 99% (102%) 0.0 176.0 5.0% +39.5 0.0 -80.0 -71.5 0.0 96.0 2.7% -32.0 0.0 226.0 6.4% -25.0 0.0 Connect 1,265.0 96% (102%) +65.0 77.0 6.1% -3.7 0.0 -5.0 -1.0 -50.0 72.0 5.7% -4.7 -50.0 147.0 11.6% -8.5 -50.0 Industry 1,050.0 97% (102%) 0.0 81.0 7.7% +26.7 0.0 -16.0 -4.9 0.0 65.0 6.2% +21.8 0.0 130.0 12.4% +25.2 0.0 Energy 1,039.0 119% (128%) 0.0 168.0 16.2% +45.3 0.0 -1.0 +1.5 0.0 167.0 16.1% +46.8 0.0 251.0 24.2% +61.1 0.0 Other/Eliminations & adjustments 911.0 - -65.0 -2.0 -50.5 0.0 -28.0 -7.8 +50.0 -30.0 -58.3 +50.0 46.0 -65.5 +50.0 Total 7,800.0 92% (96%) 0.0 500.0 6.4% +32.8 0.0 -130.0 -89.3 0.0 370.0 4.7% -56.5 0.0 800.0 10.3% -69.7 0.0 Excl. Automotive*2 - 100% (104%) - - +57.3 - - -83.7 - - -26.4 - - -12.7 - FY3/26 Full- Year Forecast Revision by Segment (yen: billions) YoY % figures represent the year-on-year change relative to the previous year's figures *1: Total amount of Operating profit, Depreciation (Tangible assets including property, plant and equipment / Right-of-use assets) and Amortization (Intangible assets). Adjusted with amount equivalent to depreciation corresponding to underlying assets that are applied with Lease accounting treatment as a lessor, etc. *2: Except for businesses not subject to the share transfer
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15© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results Lifestyle Segment: FY3/26 Full -Year Forecast by Divisional Company (Unchanged from forecast of May 9, 2025) *1: Total amount of Operating profit, Depreciation (Tangible assets including property, plant and equipment / Right-of-use assets) and Amortization (Intangible assets) (yen: billions) YoY % figures represent the year-on-year change relative to the previous year's figures Sales YoY (excl. FX) Adjusted OP (%) YoY Other income/ loss YoY OP (%) YoY EBITDA*1 (%) YoY Living Appliances and Solutions Company (LAS) 885.0 100% (102%) 57.0 6.4% +7.9 -6.0 -8.1 51.0 5.8% -0.2 81.0 9.2% +0.5 Heating & Ventilation A/C Company (HVAC) 893.0 99% (103%) 35.0 3.9% +18.8 -13.0 -8.8 22.0 2.5% +10.0 58.0 6.5% +11.2 Cold Chain Solutions Company (CCS) 420.0 103% (104%) 23.0 5.5% +2.9 -2.0 -2.1 21.0 5.0% +0.8 31.0 7.4% +0.4 Electric Works Company (EW) 1,087.0 101% (103%) 79.0 7.3% +2.3 -22.0 -17.7 57.0 5.2% -15.4 93.0 8.6% -10.6
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Disclaimer Regarding Forward-looking Statements This presentation includes forward-looking statements about Panasonic Holdings Corporation (the "Company") 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 forward-looking 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 the Panasonic 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. The Company undertakesno obligation to publicly update any forward-looking statements after the date of this presentation. Investors are advised to consult any further disclosures by the Company in its subsequent filings under the Financial Instrument and Exchange Act of Japan (the "FIEA") and other publicly disclosed documents. The risks, uncertainties and other factors referred to above include, but are not limited to, economic conditions, particularly consumer spending and demands for corporate capital expenditures in the major markets including, but not limited to, the Americas, Europe, Japan, China and other Asian countriesas well as changes of demands for a wide range of electronic products & parts from the industrial world and consumers in various regional markets; excessive currency rate fluctuations of the U.S. dollar, the euro, the Chinese yuan and other currencies against the yen having an impact on costs and prices of the Panasonic Group’s products & services as well ascertain other transactions that are denominated in these foreign currencies; increased costs of or limitations on raising funds, because of changes in the fund raising environment including interest rate fluctuations; current or future political or social trends in and outside Japan or changes in rules & regulations of international trade, commerce, R&Ds, production or saleshaving impact on the Panasonic Group or the business activities in its supply chain; introduction or enhancement of rules & regulations or abolition or reduction of tax benefit or subsidy related mainly to the environment issues including the climate change as well as to responsible supply chain (in terms of human rights, labor, health & safety global environmental conservation, information security, business ethics and others); increased costs resulting from a leakage of customers’ or confidential information from IT systems of the Panasonic Group or its supply chain or business suspension caused by unauthorized access, cyberattacks or any other form of malicious actions on the IT systems or from vulnerability of network-connected products; failure to secure or retain enough workforces to execute its business strategy; failure to retain its competitiveness in a wide range of products & services or in major countries & regions; failure to produce expected results in alliances with other companies or M&A (mergers & acquisitions) activities; failure to produce expected results in current or future business transformations of the Panasonic Group; occurrence or lengthening of disruptions in its supply chain or logistics for or price hikes in parts & materials; downward price pressure or decrease in demands for the products at a level that can be offset with efforts by the Company; failure to respond to future changes in the market needs with technological innovations or to timely utilize new technologies such as AI (Artificial Intelligence); increased costs or losses caused by occurrence of events such as compliance violations (including those related to human rights or labor issues) or serious health & safety accidents in workplaces; increased costs or losses resulting from any defects or quality frauds in products or services of the Panasonic Group; infringement by third parties of intellectual property owned by the Panasonic Group or restrictions on the use of intellectual property owned by third parties; administrative/criminal penalties or compensations/damages claims resulting from violations of laws and regulations; large-scale natural disasters, global pandemics of infectious diseases, terrorism or wars; fluctuations in market prices of securities and other financial assets in which the Panasonic Group has holdings, excessive fluctuations of valuation of non-financial assets, including property, plant and equipment, goodwill and deferred tax assets, or changes or tightening of accounting policies or rules; The factors listed above are not all-inclusive and further information is contained in the most recent English translated version of the Company’s securities reports under the FIEA and any other documents which are disclosed on its website.
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18© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results Reference: Situation of Strategic Capital Alliance and Establishment of New Company of Projector Business, etc. The strategic capital alliance agreement with ORIX Corporation concerning the projector business and related operations was mutually terminated in July 2025 Panasonic Projector & Display Corporation which was launched in April 2025 will now aim for business growth as a wholly owned subsidiary of Panasonic Connect, following the termination of the agreement Corporate Profile Company Name: Panasonic Projector & Display Corporation Established year: April 1, 2025 Business area: Development, manufacture and sale of visual devices & software, and provision of solutions, etc. Employees: Approx. 1,500 (Japan: Approx. 630; Overseas: Approx. 870) as of April 1, 2025 Parent Company: Panasonic Connect Co., Ltd. （Shareholding Ratio: 100%） Gains from share transfer of the projector business and related operations were initially factored into forecast for other income/loss; consequently, the forecast has been revised accordingly on July 30, 2025
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19© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results Reference: Impact of US Tariffs • Apply additional tariff rates to assumed tariff- relevant transactions • As a general principle, address cost increases caused by additional tariffs through price revisions Assumptions for estimating tariff impact Impact of US tariffs from FY3/26 2Q onward not yet factored into forecast; Continue to assess its developments going forward Considering the possibility of changes in the tariff, aiming to minimize impact of tariffs through measures from both short-term and medium- to long-term perspectives FY3/25 US sales: Approx. 1,570 bil. yen Lifestyle ConnectEnergy Industry Automotive, etc. Impact on adjusted operating profit estimated at less than 1% of consolidated sales Note: Sales composition ratio by segment is approximate
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20© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results Reference: Impact of US IRA Tax Credit (Section 45X) on Financial Results Among monetization methods of “Deductible tax credit,” “Refundable tax credit (direct pay)” and “Transferable tax credit,” assuming to elect “Refundable tax credit (direct pay)” for FY3/26 Half of total tax credit amount recorded in adjusted OP, assuming effective use of credit with customers toward strengthening/expanding North America business, taking into consideration the aim of US IRA (reduce excessive inflation and promote energy policies in US) ■Amount recorded in profit *1: Recorded adjusted OP amount is based on IRA tax credit for FY3/26 1Q sales results (10.1 GWh), FY3/26 sales forecast of May 9, 2025 (46 GWh), and production costs of electrode active materials, taking into consideration the amount to be effectively used with customers, etc. ・ IRA tax credit: - Battery cell: $35/kWh x sales volume - Electrode active material: 10% of production costs Note: Production costs (e.g. labor, depreciation) of cathode/anode electrode materials, etc. produced in US *2: Recorded net profit amount is based on: ・ “IRA tax credit” is a non-taxable income ・ Deferred tax assets are recorded since the amount to be effectively used with customers is applicable for deferred tax accounting Adjusted OP (Energy Segment) Net profit attributable to Panasonic Holdings Corporation stockholders FY3/26 Full-year Forecast 110.0 bil. yen*1 140.0 bil. yen*2 FY3/26 1Q Results 24.3 bil. yen*1 31.2 bil. yen*2
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21© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results Reference: Changes to US IRA Following Enactment of One Big Beautiful Bill Act (OBBBA) Overview: Tax credit for sales of EV batteries, etc. Effective: 2023 - 2032 (10 years) Eligibility & tax credit amount: • Battery cell: $35/kWh • Battery module: $10/kWh • Electrode active material: 10% of production costs Note: Tax credit starts to be reduced from 2030 2030: Reduced by 25%, 2031: 50%, 2032: 75% Conditions: • Battery cells, modules and electrode active materials produced in US • Credits for cells and modules based on sales volume (in kWh) • Procurement ratio from sources other than PFE must exceed threshold shown below Overview: Tax credit for purchases of EVs Effective: 2023 - will end on Sep. 30, 2025 Eligibility & tax credit amount: • New car: up to $7,500 • Used car: 30% of purchase value, up to $4,000 Conditions: • Eligibility: Vehicles assembled in North America (US, Canada, Mexico) • Conditions for new cars: *1: Although Japan is not an FTA country, conditions have been relaxed to include Japan *2: Yearly thresholds set for extraction/production locations of battery components & critical minerals. FEOC restrictions apply (battery components: 2024-, critical minerals* 2025-) Section 45X (Advanced Manufacturing Production Credit) Section 30D (EV Credit) Battery components produced & assembled*2 in North America $3,750 Critical minerals extracted & processed*2 within FTA countries*1 $3,750 Production costs of electrode active material: Production costs (e.g. labor, depreciation) of cathode/anode electrode materials, etc. produced in US Additions CY2026 CY2027 CY2028 CY2029 From CY2030 60% 65% 70% 80% 85% Changes With the enactment of the US OBBBA in July 2025, Section 30D will be terminated on September 30, 2025 As for Section 45X, a stricter PFE (Prohibited Foreign Entity) eligibility requirement for FEOCs (Foreign Entities of Concern) will be implemented *Graphite: 2027- Note: Guidelines to be announced by December 31, 2026 Additions / Changes
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22© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results Reference: Progress in EV Battery Production Capacity (As of July 30, 2025) Nevada Kansas July 2025 Mass-production Started Targeting capacity Approx. 32 GWh End of FY3/25 Approx. 41 GWh Continuous improvement in production capability FY3/31 Approx. 44 GWh* End of FY3/24 38-39 GWh Oizumi (Gunma pref.) Wakayama (Wakayama pref.) End of FY3/24 Approx. 11 GWh FY3/28 or laterConvert production lines from 1865 to 2170 cells and new investments FY3/29 or laterNew investments 2170 cells 2170 cells 2170 cells • Started mass-production at Kansas factory (July 2025) • Building production capacity by leveraging our achievements as a leading company in North America, along with the support of IRA tax credit • Suminoe, Kaizuka and Oizumi: Establish production capacity through collaboration with new customers in Japan; In discussion with customers in response to market demand • Wakayama: Under final evaluation of 4680 cell supply for strategic customer 1 line added 4680 cells Annual Production CapacityFactory Status FY3/31 14 GWh 1865 cells 2170 cells *+15% vs FY3/24 End of FY3/26 Several GWh North America Japan Suminoe/Kaizuka (Osaka pref.) Plan to finalize preparation for mass-production FY3/31 16 GWh 2Q of FY3/25 Finalized preparation for mass-production • Operation of additional equipment started in FY3/25 3Q • Further capacity expansion with operational improvement and high-density technology • Scheduled for shipment in 2Q of FY3/26, currently final coordination with customer • Plan to expand capacity in stages according to customer demand • In discussion with customers • Accelerate conversion of its production from 1865 to 2170 cells • In discussion with customer • Started personnel exchange for the construction of the new factory (from April 2025) • On standby for mass production • Mass production set to start after final evaluation by strategic customer Plan to finalize preparation for mass-production Maintain our policy of flexibly building production capacity in response to customer demand
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23© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results 29.7 40.0 1.3x （YoY） FY3/26 Full-year Forecast 7.2 10.3 1.4x （YoY） FY3/26 1Q Results 1.5x （YoY） FY3/26 Full-year ForecastFY3/26 1Q Results 200.0 bil. yen 2.0x （YoY） Reference: Business Growth related to Generative AI Industry Products: Conductive polymer capacitors (Electronic Devices) Multi-layer circuit board materials (Electronic Materials) Usage: Generative AI servers Energy Products: Energy storage systems (Industrial / Consumer) Usage: Data centers Sales of products for generative AI servers Total sales for data center (incl. generative AI-use) (yen: billions) (yen: billions) FY3/26 FY3/25 FY3/26 (e)FY3/25 FY3/26 FY3/25 FY3/26 (e)FY3/25 (yen: billions) (yen: billions) Generative AI related businesses continue to show strong growth
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24© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results LifestyleReference: FY3/26 1Q Segment Information *1: In real terms excluding the effect of exchange rates (yen: billions) FY3/26 1Q YoY (year-on-year) Sales 846.1 98% (102%)*1 Adjusted operating profit (% to sales) 33.8 (4.0%) +11.5 Other income/loss 0.9 -0.5 Operating profit (% to sales) 34.7 (4.1%) +11.0 Overview Major increase/decrease factors Other income/loss Impact of gains on sale of fixed assets recorded in FY3/25 and restructuring expenses, etc. Adjusted OP Living Appliances and Solutions Company (LAS) +: Recovery trend in market share (Japan), supported by subsidies in China, and rationalization, etc. -: Deteriorated demand in some overseas markets Heating & Ventilation A/C Company (HVAC) +: Increased sales of A2W, room air conditioners (Japan), and environmental engineering -: Decreased demand of room air conditioners in overseas market Cold Chain Solutions Company (CCS) +: New consolidation of refrigeration equipment business in Poland (acquisition of Area Cooling completed in December 2024) -: Rebound effect from special demand in FY3/25 Electric Works Company (EW) +: Steady results of electrical construction materials in Japan -: Deteriorated conditions in some overseas markets +3.8 +6.7 -1.4 +0.4 -0.5 -2.4 +15.2 +1.8 -30.0 +0.3 -1.2 862.4 846.1 23.7 34.7 OP: +11.0 Adjusted OP: +11.5 +2.0 0.0 (yen: billions) (yen: billions) Living Appliances and Solutions Heating & Ventilation A/C Cold Chain Solutions Electric Works Others*2 Effect of exchange rates FY3/26 1Q FY3/26 1Q FY3/25 1Q FY3/25 1Q Living Appliances and Solutions Heating & Ventilation A/C Cold Chain Solutions Electric Works Others*2 Effect of exchange rates Other income/ loss *2: Includes: Refrigeration devices, sales of other segment products, segment head office, eliminations, etc. Sales: Increased overall (excluding effect of exchange rates) due to increased sales of consumer electronics (Japan: at the same level, China: supported by subsidies); increased sales of HVAC (e.g. A2W in Europe); Increased sales of electrical construction materials (mainly in Japan) OP: Increased due to steady sales of washing machines, steady progress of structural enhancement in cooking appliances (both in the consumer electronics), recovery of A2W in Europe (HVAC), and increased sales of electrical construction materials mainly in Japan
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25© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results ConnectReference: FY3/26 1Q Segment Information *1: In real terms excluding the effect of exchange rates (yen: billions) FY3/26 1Q YoY (year-on-year) Sales 303.5 104% (109%)*1 Adjusted operating profit (% to sales) 6.2 (2.0%) +1.2 Other income/loss -0.4 -1.4 Operating profit (% to sales) 5.8 (1.9%) -0.2 Overview Major increase/decrease factors Other income/loss Absence of one-time gains with asset disposal recorded in FY3/25 Adjusted OP Avionics -: Decreased due to upfront investment in development of next- generation satellite communication Process Automation +: Increased sales by capturing demand for ICT as well as EV in China Mobile Solutions +: Increased sales of PCs due to replacement demand from discontinuation of Windows 10 support Gemba Solutions +: Increased sales with steady orders of solution-type projects in Japan Blue Yonder (BY) - : Decreased due to increased strategic investment, etc. -0.9 +17.3 +7.7 +5.4 -5.3 -15.3 +2.4 -3.2 +6.2 +1.8 +1.0 -6.5 +0.9 +1.0 -1.4 BY BY OP: -0.2 Adjusted OP: +1.2 303.5 292.2 6.0 5.8 (yen: billions) (yen: billions) FY3/25 1Q FY3/25 1Q FY3/26 1Q FY3/26 1Q Avionics Avionics Process Automation Process Automation Mobile Solutions Mobile Solutions Gemba Solutions Gemba Solutions Others Others Effect of exchange rates Effect of exchange rates Other income/ loss Sales: Increased due to increased sales of Process Automation, capturing demand for ICT as well as EV in China, in addition to increased sales of Mobile Solutions, Gemba Solutions and Blue Yonder OP: Increased due to increased sales (e.g. Process Automation, Mobile Solutions), despite increased strategic investments in Blue Yonder
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26© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results Sales / Adjusted OP (Stand alone) Recurring / SaaS sales ratio SaaS NRR (Net Revenue Retention) NRR improved due to upgrade for existing customers and additional plan, along with enhanced product line-up ｚ Steady growth of SaaS sales; adjusted OP was negative due to strategic investments, etc. （M US$） SaaS137 137 SaaS ratio maintained above 50% due to increased SaaS sales 145 152 FY3/25 Q1 Q3Q2 Q4 FY3/26 Q1 Q2 Q4FY3/25 Q1 Q3 8 2 20 5 -14Adjusted OP 72% 49% YoY +2% pt FY3/26 Q1 330 160 355 177 71% 50% YoY 105％ YoY 110％ SaaS KPIs（SaaS sales ratio, SaaS ARR, SaaS NRR） show favorable results 355 184 71% 52% 345 177 72% 51% SaaS ARR (Annual Recurring Revenue) （M US$） Maintained YoY double-digit growth in ARR with favorable SaaS booking 676 736 YoY 115％ 751 FY3/25 Q1 Q2 Q3 Q4 FY3/26 Q1 759 345 176 72% 51% 778 ConnectReference: Blue Yonder’s KPIs Note: All figures except top-left chart are based on FY3/26(e) rates as of May 9, 2025 (USD: 140 yen / Euro: 150 yen) to exclude FX effect •Recurring revenue business ratio in total revenue •Net revenue retention rate with existing customers Recurring sales ratio SaaS sales ratio •ARR indicates secured annualized revenue during the year starting next quarter SaaS サブスク SaaS FY3/26 Q1Q2FY3/25 Q1 100% Q3 Q4 101% 103% 101% 103% 105% (YoY)
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27© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results *1: Including the planned USD 200M R&D investment for three years from FY3/24 to FY3/26, as well as investments for areas such as security enhancement (e.g., migration to the public cloud) and synergy creation with the Panasonic Group, etc. *2: Excluding the effect of exchange rates FY3/26 1Q Results FY3/25 1Q Results YoY FY3/26 Forecasts FY3/25 Results YoY Stand alone (Blue Yonder) Adjusted EBITDA A－B－C－D 7.2 9.6 -2.4 38.5 39.8 -1.3 EBITDA A 0.9 3.8 -2.9 11.3 20.8 -9.5 Strategic investments *1 B -5.7 -4.5 -1.2 -23.3 -16.7 -6.6 Compensation (e.g. incentives/retention) C -0.7 -0.7 0.0 -2.6 -3.5 +0.9 Restructuring expenses, non-recurring gain/loss D 0.1 -0.6 +0.7 -1.3 1.2 -2.5 Adjusted OP (1) -3.3 1.3 -4.6 -2.0 5.3 -7.3 Panasonic Group consolidated -basis Amortization expenses related to acquisition, etc. (2) -7.6 -6.5 -1.1 -29.9 -26.8 -3.1 Adjusted OP (1)＋(2) -10.9 -5.2 -5.7 -31.9 -21.5 -10.4 （-1.9）*2 （+1.9）*2 Forecast for adjusted EBITDA in FY3/26 remains unchanged from that of May 9, 2025; Adjusted EBITDA excluding the effect of exchange rates is expected to increase Reference: FY3/26 1Q Results of Blue Yonder Connect Breakdown of adjusted EBITDA (yen: billions)
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28© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results Reference: FY3/26 1Q Segment Information Industry Overview Major increase/decrease factors (yen: billions) FY3/26 1Q YoY (year-on- year) PID Products*1 Sales 283.5 103% (107%)*2 255.9 Adjusted operating profit (% to sales) 18.7 (6.6%) +1.0 17.9 (7.0%) Other income/loss 0.7 +1.0 0.3 Operating profit (% to sales) 19.4 (6.9%) +2.0 18.2 (7.1%) Other income/loss - Adjusted OP Electronic Devices +: Increased sales of products (capacitors) for information & communication applications such as generative AI servers FA Solutions +: Price revisions, rationalization, increased sales Electronic Materials +: Increased sales of products (multi-layer circuit board materials) for information & communication applications such as generative AI servers *1: Figures of PID (Panasonic Industry Co., Ltd.) products exclude sales of other segment products (e.g. compressor), etc. *2: In real terms excluding the effect of exchange rates +4.1 -0.6 -3.9 +1.0 +15.7 +2.1 +6.1 -3.8 -11.1 274.5 283.5 17.4 19.4 OP: +2.0 Adjusted OP: +1.0 (yen: billions) (yen: billions) FY3/25 1Q FY3/25 1Q FY3/26 1Q FY3/26 1Q Electronic Devices Electronic Devices FA Solutions FA Solutions Electronic Materials Electronic Materials Others*3 Others*3 Effect of exchange rates Effect of exchange rates Other income/ loss OP: Increased due to increased sales of products (capacitors, multi-layer circuit board materials) for information & communication applications such as generative AI servers, price revisions and rationalization, etc. Sales: Increased due to increased sales of products (capacitors, multi-layer circuit board materials) driven by increased demand for information & communication applications such as generative AI servers *3: Sales of other segment products, etc. +0.2+1.2
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29© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results 139.5 139.7 143.7 135.0 150.1 8.1 8.7 7.5 5.4 8.2 0.0 5.0 10.0 15.0 20.0 25.0 30.0 0 500 1000 1500 2000 2500 FY3/25 Q1 Q2 Q3 Q4 FY3/26 Q1 その他 22%（▲4%） ICT端末 13%（+1%） 情報通信 インフラ 18%（+4%） 車載CASE 47%（▲1%） IndustryReference: Situation of Voluntarily Disclosed Businesses (FY3/26 1Q) Electronic Devices 6.6% Adjusted OP (%) Sales (yen: billons) Sales & adjusted OPM trend Both sales and profit increased due to increased demand for ICT-related applications (e.g. generative AI servers, notebook PCs) Toward FY3/26 2H, need to closely monitor market environment such as impact of US tariffs Others 22%（-4%） ICT Terminals 13%（+1%） ICT Infrastructure 18%（+4%） Automotive CASE 47%（-1%） (%): YoY sales composition ratio * Estimated by PID FY3/26 1Q sales composition by application*
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30© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 Increased order received mainly for conductive capacitors with strong demand for generative AI servers FY3/23 Q1 Q2 Q3 Q4 FY3/24 Q1 Q2 Q3 Q4 FY3/25 Q1 Q2 Q3 Q4 FY3/26 Q1 0.88 0.81 0.78 0.89 1.02 0.96 0.91 1.08 1.18 1.04 0.95 1.10 1.05 Reference: Situation of Voluntarily Disclosed Businesses (FY3/26 1Q) Industry Sales Order received Order backlog Electronic Devices: BB ratio* of capacitors (yen: billions) BB ratio *BB ratio: book-to-bill ratio
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31© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results Japan 19％ (±0％) Americas 2%(-1%) Europe 5％ (-1%) Asia 12% （+2%） China 62% (±0%) 29.3 26.0 25.2 23.5 29.8 4.2 0.3 0.0 - 8.3 7.3 ▲ 20.0 ▲ 10.0 0.0 10.0 20.0 30.0 40.0 0 50 100 150 200 250 300 350 FY3/25 Q1 Q2 Q3 Q4 FY3/26 Q1 Reference: Situation of Voluntarily Disclosed Businesses (FY3/26 1Q) Industry FA Solutions 6.6% Adjusted OP (%) Sales (yen: billions) Sales & adjusted OPM trend (%): YoY sales composition ratio * Estimated by PID * 3C: Consumer, Computer, Communication Sales increased due to steady domestic demand in China, mainly driven by 3C*-related application, despite market slowdown in US and Europe; profit increased due to increased sales along with fixed-cost reduction and rationalization From FY3/26 2H onward: Continue management structure enhancement while closely monitoring slowdown risks in Chinese market FY3/26 1Q sales composition by region*
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32© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results 45.5 42.0 44.9 44.1 48.9 11.9 7.3 7.7 6.9 10.4 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 20.0 0 100 200 300 400 500 600 FY3/25 Q1 Q2 Q3 Q4 FY3/26 Q1 6.6% Automotive CASE 23％ （-3%） Information & communication (ICT) infrastructure 46% (+3%) Others 29%（±0％） ICT terminals 2%（±0%） IndustryReference: Situation of Voluntarily Disclosed Businesses (FY3/26 1Q) Electronic Materials 6.6% Adjusted OP (%) Sales (yen: billions) Sales & adjusted OPM trend (%): YoY sales composition ratio * Estimated by PID Sales increased due to growing demand for generative AI servers as well as general-purpose servers; Regain double-digit adjusted OP margin through rationalization Continue to strengthen production and procurement capability to capture strong demand FY3/26 1Q sales composition by application*
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33© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results Reference: FY3/26 1Q Segment Information Energy (yen: billions) FY3/26 1Q YoY (year-on-year) Sales 219.3 103% (111%)*1 Adjusted operating profit (% to sales) 31.8 (14.5%) +10.1 Other income/loss 0.1 +0.2 Operating profit (% to sales) 31.9 (14.5%) +10.3 *1: In real terms excluding the effect of exchange rates Overview Other income/loss - Major increase/decrease factors Adjusted OP In-vehicle +: Increased sales at Nevada factory and increased IRA tax credit -: Increased ramp-up costs for Kansas and Wakayama factories Industrial / Consumer +: Increased sales of energy storage systems for data centers -: Increased costs for production expansion -13.5 +35.1 +1.0 -15.2 +8.2 -0.5 -4.2 211.9 219.3 21.6 31.9 OP: +10.3 Adjusted OP: +10.1 +0.2 (yen: billions) (yen: billions) FY3/25 1Q FY3/26 1Q FY3/25 1Q FY3/26 1Q In-vehicle In-vehicle Industrial / Consumer Industrial / Consumer Segment head office, eliminations, etc. Segment head office, eliminations, etc. Effect of exchange rates Effect of exchange rates Other income/ loss Price revisions for lower raw materials: -20.0 Sales: In-vehicle: Decreased with price revisions reflecting lower raw material prices, despite increased sales volume at North America factory (+1.4GWh YoY) Industrial / Consumer: Increased with favorable sales of energy storage systems for data centers OP: In-vehicle: Increased due to increased sales at Nevada factory and increased IRA tax credit, despite increased upfront costs for ramp-up of Kansas and Wakayama factories Industrial / Consumer: Increased due to increased sales of energy storage systems for data centers +6.6
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34© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results Reference: New Business Structure of Lifestyle (effective April 1, 2026) Panasonic Corporation *1 Current Structure New Structure (effective April 1, 2026) Panasonic Entertainment & Communication Co., Ltd. Panasonic Corporation*4 Panasonic HVAC & CC Co., Ltd.*2 Panasonic Electric Works Co., Ltd.3 *1. Details regarding the dissolution of current Panasonic Corporation will be announced as soon as they are finalized. *2. The principal businesses of the Heating & Ventilation A/C Company and the Cold Chain Solutions Company of the Current Panasonic Corporation (both are internal divisional companies), are scheduled to be transferred through an absorption split company to Panasonic Ecosystems Co., Ltd. and its subsidiaries. Panasonic Ecosystems Co., Ltd. is planned to be renamed Panasonic HVAC & CC Co., Ltd. *3. The principal businesses of the Electric Works Company of the current Panasonic Corporation (internal divisional company) are scheduled to be transferred through an absorption-type company split to Panasonic Electric Works Co., Ltd., a split preparation company newly established as a wholly owned subsidiary of Panasonic Holdings Corporation. *4. The principal businesses of the Living Appliances and Solutions Company and the China and Northeast Asia Company of the Current Panasonic Corporation(both are internal divisional companies), are scheduled to be transferred through an absorption-type split company to Panasonic Entertainment & Communication Co., Ltd., which is planned to be renamed Panasonic Corporation. In order to minimize the impact of the name change on relationships with various stakeholders, we plan to use Panasonic Corporation as our company name. Will be dissolved *1 Living Appliances and Solution CompanyDivisional company Heating & Ventilation A/C Company Cold Chain Solutions Company Electric Works Company China and Northeast Asia Company Divisional company Divisional company Divisional company Divisional company the primary successor
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35© 2025 Panasonic Holdings Corporation. All Rights Reserved. Fiscal 2026 First Quarter Financial Results Reference: FY3/26 List of Voluntarily Disclosed Businesses Businesses with Sales Disclosed (For underlined businesses, Adjusted OP also disclosed in Supplemental Financial Data) Major Business Divisions, etc. Living Appliances and Solutions Company (LAS) Industry (Panasonic Industry Co., Ltd.) Connect (Panasonic Connect Co., Ltd.) Energy (Panasonic Energy Co., Ltd.) Other Eliminations & adjustments • Entertainment & Communication • Housing • Eliminations of intersegment transactions, adjustments of profits and losses not attributable to any segments, and adjustments of consolidations, etc. • Avionics • Process Automation • Mobile Solutions • Gemba Solutions • Blue Yonder • Others • Electronic Devices • FA Solutions • Electronic Materials • Others • In-vehicle • Industrial / Consumer • Others : Panasonic Avionics Corporation, Avionics BU : Circuit Formation Process BD, Welding Process BD : Mobile Solutions BD : Gemba Solutions Company : Blue Yonder Holding, Inc. : Other businesses, eliminations, etc. : Electromechanical Control BD, Industrial Devices BD, Device Solutions BD : Industrial Devices BD : Electronic Materials BD : Electromechanical Control BD, Sales of other segment products, eliminations, etc. : Mobility Energy BD : Energy Device BD, Energy Solutions BD : Segment head office, eliminations, etc. : Panasonic Entertainment & Communication Co., Ltd. : Panasonic Housing Solutions Co., Ltd. • Kitchen Appliances • Laundry Systems and Vacuum Cleaner • Beauty and Personal Care Cold Chain Solutions Company (CCS) Heating & Ventilation A/C Company (HVAC) Sales disclosed by region (Europe, Japan, China & Northeast Asia) Major Business Divisions: A2W & Hydro Solutions BD, Residential Air-Conditioning BD, Panasonic Ecology Systems Co., Ltd. Indoor Air Quality BD, Commercial Air-Conditioning BD Electric Works Company (EW) • Lighting • Electrical Construction Materials & Living Energy - : Kitchen Appliances BD : Laundry Systems and Vacuum Cleaner BD : Beauty and Personal Care BD : Hussmann Corporation, Cold Chain BD : Lighting BD : Electrical Construction Materials & Living Energy BD Others : Sales of other segment products, segment head office, eliminations, etc.- Lifestyle (Panasonic Corporation)