Investor Presentaiton

3 Details by Segment - Motorcycle & Engine - Market Overview • U.S. - - Retail market exceeds the level of the previous year due to rising demand for off- road models by the impact of COVID-19 Demand is expected to remain strong • Europe - - Retail market has recovered to the same level as the previous year despite a temporary impact of city-wide lockdown in countries in the spring in 2020 Southeast Asia Retail markets remain sluggish However, they are expected to recover in FY2021 Specific Efforts - - - - Strict control of fixed costs to slimming down Maintaining the level of fixed cost ratio reduced in FY 2020 while considering additional reductions Improvement in marginal rate of return Reduction of sales promotion costs Promotion of cost reduction Review of inventory levels (reduction) Expansion of the four wheeler business and electrification Focus on development investment to increase four wheeler production and reduce carbon emissions © Kawasaki Heavy Industries, Ltd. All Rights Reserved Off-road four wheeler TERYX KRX 1000 EV Project (EICMA2019) Kawasaki Powering your potential 38

View entire presentation