Investor Presentaiton

2 Earnings Forecasts for FY2021 -Summary- Significant increase in orders, sales and profits are expected due to mitigating of the impact of COVID-19 Impairment loss on fixed assets to be acquired in Sakaide Works is recorded under extraordinary profit and loss (Billion Yen) Negative impact of approx. ¥100 billion decrease due to application of new Accounting Standard for Revenue Recognition FY2020 Actual FY2021 Forecast Change Details of Change in Operating Income (billion yen) Orders Received 1,402.4 1,480.0 + 77.6 Net Sales 1,488.4 1,500.0 + 11.6 Operating Income (Loss) [Margin] - 5.3 [-0.3%] 30.0 + 35.3 [2.0%] [+ 2.3pt] Eliminations and corporate Motorcycle & Engine Others 2.2 Rolling Stock 1.6 5.3 7.5 -6.8 2.0 Recurring Profit (Loss) [Margin] - 2.8 [-0.1%] 20.0 + 22.8 [1.3%] [+ 1.5pt] Net Income (Loss) - 19.3 17.0 + Attributable to Owners Parent [Margin] Before-tax ROIC [-1.2%] - 1.0% [1.1%] 36.3 [+2.4pt] Precision Machinery & Robot Energy Solution & Marin Engineering 30.0 2.5% + 3.5pt Aerospace Systems Weighted-average 105.29 106.00 + 0.71 23.6 exchange rates (USD/JPY) US dollar-based transaction (B$) 1.61 1.61 *Amount in foreign currency calculated by deducting dollar-denominated purchases from dollar- denominated sales of Kawasaki Heavy Industries, Ltd. (to include dollar-denominated sales of loss provisions). The estimated impact on operating income due to a 1 yen fluctuation in the exchange rate. See page 48 for the breakdown of these figures by segment. © Kawasaki Heavy Industries, Ltd. All Rights Reserved FY2020 -5.3 FY2021 Kawasaki Powering your potential 13

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