Update on the Business Transformation of Panasonic Visual Systems Business Unit

Nearly a year ago Panasonic Connect announced a capital partnership between Panasonic Connect and ORIX. This agreement was mutually terminated on July 3, 2025.

This decision on the company ownership structure does not affect the strategy that has been set and presented for the Visual business earlier this year. Those topics need to be viewed disconnected from each other and independently.

To summarize the Key Highlights:

• Panasonic Projector & Display Corporation, established on April 1, 2025, will continue to operate as a wholly owned subsidiary of Panasonic Connect.
• In the Europe, Middle East, and Africa (EMEA) region, we are moving forward with the launch of Panasonic Projector & Display EMEA GmbH on October 1, 2025, as planned.
• The Panasonic name and brand will remain unchanged. We will also continue developing MEVIX as a sub-brand.
• Our midterm strategy, as presented at ISE 2025, remains on track:
  Panasonic Projector and Display is expanding technology expertise, Covering the entire workflow & solutions and is establishing new businesses -> examples: new RQ45 platform announced, entering LED business, entering media player/server, providing commercial software solutions
• All daily operations — including sales, engineering, marketing, service, and logistics—will continue without interruption through your existing contacts.

The decision from July 3^rd only implies:

• The capital partnership agreement with ORIX was ended on July 3, 2025.
• This decision was made mutually due to differing expectations regarding the business, which could not be reconciled.

On April 1, 2025, the new company "Panasonic Projector & Display Corporation" was established. In October, regional companies in Europe and other areas will also be established, transforming into an independent company that realizes true global operation, integrating development, manufacturing, and sales. We will continue to pursue the strategies aiming for business growth.

In particular, we will maintain our efforts to strengthen the competitiveness of our hardware business, which has focused on high-brightness projectors. Additionally, we will expand our customer contribution areas through strategic collaborations with partners in the software domain, promote product planning tailored to local markets, and create value through new investments. We will leverage the strengths unique to global management and outline a new growth strategy.