#1SUZUKI Update on the Indian Market Situation and Outlook of Suzuki Japan Mobility Conference 2023 October 24, 2023 Kenichi Ayukawa Executive Vice President SUZUKI MOTOR CORPORATION#2Contents 1. About Suzuki Motor Corporation 2. Update on the Indian Market 3. Prospects of India 4. Exhibits for JAPAN MOBILITY SHOW 2023 SUZUKI Suzuki Motor Corporation, 2023. All rights reserved. 2/37#31. About Suzuki Motor Corporation SUZUKI Suzuki Motor Corporation, 2023. All rights reserved. 3/37#4Overview of Suzuki Motor Corporation Company Name: Establishment: Representative: Consolidated Employees: Consolidated net sales: Head Office: Number of consolidated subsidiaries: Suzuki Motor Corporation 1920 Toshihiro Suzuki, President and CEO 70,012 people 4,641.6 billion yen (FY2022) Hamamatsu-city, Shizuoka 120 companies (Japan: 66; Overseas: 54) SUZUKI *As of March 31, 2023 Suzuki Motor Corporation, 2023. All rights reserved. 4/37#5Suzuki's Performance SUZUKI Consolidated Net Sales by Region 4,641.6 billion yen in FY2022 (billion yen) Automobile Sales Units by Region 3 million units in FY2022 Others 1,641.4 Japan 1,212 India 1,788.2 ■ Japan ■ India ■ Others Approx. 39% (1,000 units) Others 728 Japan 627 India 1,645 ■ Japan ■ India ■ Others Approx. 55% Suzuki Motor Corporation, 2023. All rights reserved. 5/37#62. Update on the Indian Market SUZUKI Suzuki Motor Corporation, 2023. All rights reserved. 6/37#7(GDP) India GDP, Economic Growth Rate and Population Real Gross Domestic Product Economic Growth Rate (US $1 billion) 7000 (%) 12 10 6000 8 5000 6 4 4000 2 3000 2000 1000 1980 1984 1988 1992 1996 2000 2004 2008 2012 2016 India Japan 2020 2024 2028 -2 -4 -6 -8 1980 1983 1986 1989 0 ML 1992 1995 1998 2001 2004 2007 2010 2013 2016 2019 2022 2025 real economic growth rate 2028 0 2 4 00 6 8 10 10 12 14 All sources are IMF. The dashed line in the graph (FY 2023 to FY 2028) is the IMF forecast. Suzuki Motor Corporation, 2023. All rights reserved. 1980 1983 1986 1989 1992 1995 1998 India 2001 2004 2007 -China (Billions) 16 2010 2013 2016 2019 2022 2025 2028 7/37 Population SUZUKI#8-200 1980 0 200 1982 1984 400 600 (US $1 billion) 1000 800 1986 1988 1990 1992 1994 1996 1998 India Trade Balance and Crude Oil Imports 2000 2002 2004 trade balance export value Source: macrotrends 2006 2008 Trade Balance ד ווויייון 2010 2012 2014 2016 2018 2020 -import value 2022 (US $1 billion) 180.00 160.00 140.00 120.00 100.00 80.00 60.00 40.00 20.00 0.00 Crude Oil Imports 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 -Indian crude oil imports Source: Department of Petroleum Planning and Analysis (PPAC), Ministry of Petroleum and Natural Gas, India Suzuki Motor Corporation, 2023. All rights reserved. 8/37 SUZUKI#9India | Progress of Passenger Car Sales (10,000 units) 450 Trends in Passenger Car Sales in India *Excluding commercial vehicles Overall market: 3.89 million units (Maruti Suzuki: 1.61 million units/41.3% market share) First half of FY2023 Overall market: 2.07 million units (Maruti Suzuki: 870,000 units/42.1% market share) YoY FY2022 Overall market: 107%, Maruti Suzuki: 110% 400 350 300 250 Others 200 Maruti Suzuki -Share 150 100 50 0 ☐ 1984 1983 الاس 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989 1988 1987 1986 1985 2007 2006 SUZUKI 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 2023 1H 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 10.0% Suzuki Motor Corporation, 2023. All rights reserved. 0.0% 9/37#10India Progress of Production Volume 250 (10,000 units) Annual Production Volume in India *Including exports 200 Gujarat Plant 150 ■Manesar Plant ■Gurgaon Plant 100 50 50 0 Cumulative total: 20 million units (June 4, 2018) Cumulative total: 10 million units (March 9, 2011) Cumulative total: 5 million units (April 4, 2005) Cumulative total: 1 million units (March 29, 1994) 1995 1994 1993 1992 1991 1990 1989 1988 1987 1986 1985 1984 1983 1996 SUZUKI FY2022 1.92 million units First half of FY2023 989 thousand units Suzuki Motor Corporation, 2023. All rights reserved. 10/37#11Progress of Maruti Suzuki Export Volume 259 thousand units in FY2022 (YoY 109%) ⇒ achieved record high *Grew 2.3 times in the last 5 years (10,000 units) 30 25 20 20 15 10 5 0 Export volume ייווייון SUZUKI FY2022 259 thousand units First half of FY2023 133 thousand units Suzuki Motor Corporation, 2023. All rights reserved. 11/37 2023 1H 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 ■ 1990 ■ 1989 I 1988 1987 1986 1985 1984 1983#12Indian Market Challenges Expanding the SUV Segment Overall market: SUV segment share rose significantly FY2017 23.8% First half of FY2023 48.3% SUZUKI (10,000 units) Trends in the Composition of the SUV Segment in the Overall Market of India SUV 400 80.0% Other 350 SUV composition ratio 70.0% 300 250 200 23.8% 150 100 50 50 H 60.0% 48.3% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% 0 2017 2018 2019 2020 2021 2022 First half of 2023 Suzuki Motor Corporation, 2023. All rights reserved. 12/37#13Indian Market Challenges Expanding the SUV Segment New SUV models launched FRONX Fronx (Launched in April 2023) JUSUJQ Jimиу Jimny 5-Door (Launched in June 2023) Increase in SUV share First half of FY2023 21.7% *FY2022 12.1% SUZUKI Suzuki Motor Corporation, 2023. All rights reserved. 13/37#14Market Challenges | Response to various laws and regulations Recent emissions regulations Trends in safety regulations April 2020 Introduction of BS6 emission regulations in India April 2023 Enhanced regulations with additional RDE standards (BS6 Phase 2) *RDE... To clear exhaust emission standards by actual running tests on prescribed routes near Delhi. SUZUKI BNCAP (Bharat Motor Vehicle Safety Assessment Program) A program that evaluates the safety performance of a car by and discloses it to car buyers Suzuki and Maruti Suzuki will work together to respond Suzuki Motor Corporation, 2023. All rights reserved. 14/37#153. Prospects of India SUZUKI Suzuki Motor Corporation, 2023. All rights reserved. 15/37#16India Outlook for the Indian Market SUZUKI Maruti Suzuki: First BEV launch in India Overall Indian market : YoY +5-7% Maruti Suzuki : Outpace market growth Total passenger car : 3.89million units Maruti Suzuki : 1.61million units (41.3%) India Overall Market : 6 million units Maruti Suzuki : 3 million units (50% market share) 6 models of BEV in the lineup India's economic growth target "Amrit Kaal" (Age of Growth and Prosperity) • India aims to become the world's second largest economy in 25 years until 2047, when it celebrates 100 years of independence Government policy to balance the economy with CN • Goal of achieving carbon neutrality FY2022 FY2023 FY2024 FY2030 2047 2070 India is a market with growth prospects in the medium to long term Suzuki Motor Corporation, 2023. All rights reserved. 16/37#17Restructuring of the Indian Production System Towards 2030 SUZUKI || Production Capacity 4 million units/year FY2030 targets (approximately 2 times the FY2022 level) Continued capacity growth in line with market growth: 1 million units announced Haryana Gujarat Kharkhoda + + 1.5 million units 750 thousand units 1 million units (Production scheduled to start in FY2024) additional Over 4 million units capacity increase = 1 million units existing production capacity planned additional capacity FY2030 target Suzuki Motor Corporation, 2023. All rights reserved. 17/37#18Restructuring of the Indian Production System Towards 2030 July 31, 2023 Announced the sale of Suzuki Motor Gujarat to Maruti Suzuki Suzuki Motor Gujarat March 2014: Company established February 2017: Plant 1 SOP (production capacity 250,000 units/year) January 2019: Plant 2 SOP (production capacity 500,000 units/year) April 2021: Plant 3 SOP (production capacity 750,000 units/year) SUZUKI Enhancing productivity by consolidating production functions in Maruti Suzuki Suzuki Motor Corporation, 2023. All rights reserved. 18/37#19Initiatives to Achieve Carbon Neutrality by 2070 | Multipathway Automobile business: multipathway Aim to achieve carbon neutrality in a way that is appropriate for the region and market EV electrification SUZUKI HEV Compressed Natural Gas (CNG) Biofuel (Gas, ethanol) Achieve carbon neutrality Etc. Suzuki Motor Corporation, 2023. All rights reserved. 19/37#20Initiatives to Achieve Carbon Neutrality by 2070 | EV ] = [ Product plan until FY2030 (India) Introduction of first battery EV in Battery EV lineup FY2024 Introduce 6 models Powertrain ratio BEV 15% HEV ICE 25% 60% SUZUKI CNG, biogas, ethanol mixed fuel, etc. Suzuki Motor Corporation, 2023. All rights reserved. 20/37#21Initiatives to Achieve Carbon Neutrality by 2070 | EV In March 2022, signed a MoU with the State of Gujarat, India, for local production of electric vehicles (BEV) and in-vehicle batteries for BEVS and other investments (approximately Rs 104.4 billion). Suzuki will continue to actively invest in India and contribute to the realization of the Government of India's "Self-reliant India." Company 1 Suzuki Motor Gujarat 2 Suzuki R & D Center 3 Maruti Suzuki Toyotsu India Private Limited Contents Increasing production capacity for BEV production Construction of an in-vehicle battery plant for BEV (adjacent to SMG) Construction of auto body dismantling and recycling plant SUZUKI Investment Amount (Photo: Courtesy of the Cabinet Public Relations Office) Operating Time 31 billion 2025 rupees 73 billion 2026 rupees 450 million rupees 2025 Suzuki Motor Corporation, 2023. All rights reserved. 21/37#22Initiatives to Achieve Carbon Neutrality by 2070 | CNG Compressed Natural Gas (CNG) - CNG vehicles are characterized by low cost and low CO2 emissions - CNG variants are offered in 14 passenger cars and 1 commercial vehicle. Maruti Suzuki's share of CNG vehicles is 74% (FY2022). Government of India also advocates the use of CNG vehicles to achieve carbon neutrality A Sales of Maruti Suzuki CNG vehicles in India (1,000 units) CNG vehicle ratio among Maruti Suzuki vehicles (%) 17% 21% 12% 7% 6% 5% 329 234 158 105 107 75 FY2017 FY2018 FY 2019 FY 2020 FY 2021 FY 2022 Compressed Biomethane Gas B Maruti Suzuki 74% SUZUKI CNG Vehicle Market Share (FY2022) S-CNG DRIVE SMART CHOOSE GREEN Suzuki Motor Corporation, 2023. All rights reserved. 22/37#23SUZUKI Initiatives to Achieve Carbon Neutrality by 2070 | CBG Biogas derived from cow dung (CBG: Compressed Bio Gas) -> Conventional: CO2 in the atmosphere → grass (photosynthesis) → cattle feed → manure → methane released into the atmosphere. Methane has a greenhouse effect 28 times higher than CO₂ -> Collect cow dung (resources), Produce biogas → Use for automobile fuel Photosynthesis Eat, egest CO₂ in atmosphere Collect cow dung Produce fuel and fertilizer Drive 444 CO2 AL Organic fertilizer Organic farming Can be deployed in Africa and other emerging countries other than India Biogas has the power to "change the world" Suzuki Motor Corporation, 2023. All rights reserved. 23/37#24Initiatives to Achieve Carbon Neutrality by 2070 | CBG ⑥ fertilizer fertilizer Receiving 3 fermentation ④Purification 46064 ешед seung ①measurement ⑤ supply 54 BAMAS ROCING दिन 40 टन गोबर orp SUZUKI BANAS BIOCNG A 37#25Initiatives to Achieve Carbon Neutrality by 2070 | CBG Sept. 2023 Three parties agree to set up biogas production plant Suzuki (SRDI) Banas Dairy NATIONAL DAIRY DEVELOPMENT BOARD SUZUKI TRIPARTITE AGREEMENT of Biogas Project in India by and amongst Banaskantha District Co-operative Milk Producers' Union Limited and National Dairy Development Board (NDDB) and Suzuki R&D Center India Private Limited Asia's largest dairy manufacturer Banas Dairy Government of India National Dairy Development Board SUZUKI 2025~ Establish 4 biogas production plants sequentially The total amount of planned investment is 2.3 billion rupees (approx. 4 billion yen). ● Each plant has a biogas filling station. Sold as fuel for CNG vehicles Contract signing ceremony held at the Indian Embassy (September 6, 2023) Suzuki Motor Corporation, 2023. All rights reserved. 25/37#264. Exhibits for JAPAN MOBILITY SHOW 2023 SUZUKI Suzuki Motor Corporation, 2023. All rights reserved. 26/37#27SUZUKI Exhibit theme for JMS 世界中 ワクワク、 アッサーを。 "Answers for Excitement throughout the World." Message Present to our customers with diverse initiatives toward a carbon neutral future in mobility and services unique to Suzuki. © Suzuki Motor Corporation, 2023. All rights reserved. 27/37#28JMS Exhibit eVX SUZUKI • • <Reference Exhibit> eVX, Suzuki's first global strategic EV Showcased for the first time at the Auto Expo 2023 held in January 2023 in India, its exterior has been evolved and the interior is revealed for the first time. Proposed as an EV that realizes true Suzuki SUV driving experience by further evolving the electronically-controlled 4x4 technologies. 日本初出命 Japan PREMIERE [Main specification (reference figure)] • • Overall Length 4,300mm x Width 1,800mm x Height 1,600mm Range: 500km Suzuki Motor Corporation, 2023. All rights reserved. 28/37#29JMS Exhibit eWX <Reference Exhibit> eWX, mini wagon EV that stays close to people's daily lives • Concept model which is a crossover of fun and practical mini wagon unique to Suzuki, and futuristic EV. • Expresses a buddy-like presence that supports people's daily lives with clean and simple body shape of an EV, exterior that has a friendly character, and light and user-friendly cabin space that makes people feel at home. [Main specification (reference figure)] • • Overall Length 3,395mm x Width 1,475mm x Height 1,620mm Range: 230km 18007 SUZUKI 界初出會 World PREMIERE Suzuki Motor Corporation, 2023. All rights reserved. 29/37#30JMS Exhibit e EVERY CONCEPT <Reference Exhibit> e EVERY CONCEPT, mini-commercial BEV van that stays close to people's daily works • Mini-commercial EV van, equipped with a BEV system, jointly • developed by Suzuki Motor Corporation, Daihatsu Motor Co., Ltd., and Toyota Motor Corporation. Proposed as a model that contributes to the local society by not only realizing silent and powerful EV drive, but also supplying electricity from the vehicle in case of an emergency, while maintaining the user-friendliness of a mini-commercial van. [Main specification (reference figure)] • . Overall Length 3,395mm x Width 1,475mm x Height 1,890mm Range: 200km EVERY CONCEPT @ EVERY CONCEPT SUZUKI Suzuki Motor Corporation, 2023. All rights reserved. 30/37#31JMS Exhibit Spacia Concept / Spacia Custom Concept <Reference Exhibit> Spacia Concept / Spacia Custom Concept SUZUKI • • • Spacia is a minicar which has a unique styling and spacious cabin. This concept model is filled with our wish to "Make daily lives more fun, convenient, and comfortable!". Rear seat comfortability is enhanced such as by equipping with "multi-use flap" in the front section of the seat cushion for the first time on a Suzuki vehicle. Spacia Concept is designed for "comfort” and “excitement" that uniquely colors daily lives, and Spacia Custom Concept is designed for “elegance” and “gorgeousness”. CIA SPACIA CONCEPT MORE RELAXED, BEKAPPY * 初出版 World PREMIERE Custom CONCERT 初出會 World PREMIERE Suzuki Motor Corporation, 2023. All rights reserved. 31/37#32JMS Exhibit Swift Concept · • • • <Reference Exhibit> Swift Concept Concept model to propose new value of the Swift which has been developed by always keeping the concept of "Drive&Feel". With a shift from tangible consumption to experiential consumption, the Swift Concept not only provides "design" and "drive", but also proposes new value of "have fun with car and daily lives". Equipped with a host of advanced safety technologies including DSBSII*1 collision mitigation braking, AHS*2, and DMS*3. High-efficiency engine strikes a balance between driving performance and fuel efficiency. SUZUKI World PREMIERE *1: Dual Sensor Brake Support II *2: Adaptive High Beam System *3: Driver Monitoring System SWIFT CONCEPT Suzuki Motor Corporation, 2023. All rights reserved. 32/37#33JMS Exhibit Wagon R CBG <Reference Exhibit> CBG* Business in India (Wagon R CBG) Suzuki has been working on the CBG project since 2022, believing that it can contribute to the development of India by combining rural revitalization, the realization of a sustainable recycling-oriented society, and providing mobility. • In the booth we will display the Wagon R CBG for the Indian market that we exhibited at the G7 Hiroshima Summit event held in May, and introduce our CBG business initiatives in India with panels and videos. *Compressed Biomethane Gas WAGONR Suzuki Motor Corporation, 2023. All rights reserved. SUZUKI 33/37#34JMS Other Reference Exhibits Motorized Wheelchair Suzuki Senior Car Electric Compact Mobility MOQBA, next-generation four-leg mobility MOQBA SUZUKI SUZUKI GO!, new electric mobility 00 O 初出居 World PREMIERE Work PREMIERE SUZUKI SUZU-RIDE / SUZU-CARGO, electric personal/multi-use mobility World PREMIERE SUZU-RIDE LM-A, last-mile delivery robot World PREMIERE SUZU-CARGO Suzuki Motor Corporation, 2023. All rights reserved. World PREMIERE 34/37#35JMS Other Reference Exhibits e-PO, foldable electric moped 初出版 World PREMIERE e-choinori, close distance mobility utilizing e-bike powertrain unit World PREMIERE SUZUKI e-BURGMAN, demonstration project electric scooter prototype -PO SUZUKI SUZUK <Motorcycle Technical Exhibit> 初出會 Hydrogen Engine BURGMAN (test model) World PREMIERE HYDROGEN Small e-outboard concept, electric outboard motor 初出品 World PREMIERE Suzuki Motor Corporation, 2023. All rights reserved. 35/37#363月 ¥240,000 300,000 seagee オニオンリ W300 ルス抜き クラフトコーラ 氷 ¥1,700 チーズバーガー クラフトコ おかり お釣り ¥2,000 800 350 ¥300 ●取可 | JMS Exhibits regarding business activities <Reference Exhibit> Demonstration of hydrogen fuel cell cargo dolly at Kosai Plant (panel display) <Reference Exhibit> SUZUKI Merchandise sales booth resembling a mini truck market, and service for mobile shop business owners (application) SUZUKI FUEL CELL クリア 10 50 調ですね。この調子です よ かったみたいです 25 ベングより減っている ほえがいも」 ピッタリ ようです。 500 1,000 会計 売上实 詳しく見る 5,000 10,000 金針 <みませんか? © を立てるこ COLE コスト たんに確 きるようになります。 ¥240,000 ¥60,000 商品の販売実 詳しく見る 13:00 出店予定 +2 w 13:00 -- <出店へ 出店終了へ進む 481 11:00- アット なり 2023 4 リスト... ハンバーガー チキンバーガー チーズバーガー アボカドバーガー 4780 オニオンリン ホーク Phy 300 " 5 13:00 O T NO B " B M 开 . B アボカド フライドポ ポテトは 36/37 SKYDRIVE <Reference Exhibit> Flying car display (collaboration with SkyDrive Inc.) • In the booth we will display a 1/5 size scale model and introduce the initiatives of the collaboration. SkyDrive Suzuki Motor Corporation, 2023. All rights reserved.#375 SUZUKI Caution with respect to Forward-Looking Statements The forward-looking statements mentioned in this presentation are based on currently available information and assumptions, contain risks and uncertainty and do not constitute guarantees of future achievement. Please note that the future results may greatly vary by the changes of various factors. Those factors, which may influence the future results, include economic conditions and the trend of demand in major markets and the fluctuations of foreign exchange rates (mainly U.S. dollar/Yen rate, Euro/Yen rate, Indian Rupee/Yen rate).