Investor Presentaiton

2 Forecasts for FY2021 -Segment- Aerospace Systems will improve profitability, but the situation will remain difficult ① Motorcycle & Engine will enjoy increase of both sales and profits due to the recovery in demand for motorcycles and the continued demand for off-road models in the North America ② (Billion Yen) Operating Income (Loss) FY2020 FY2021 Orders Received Net Sales FY2020 FY2021 Change FY2020 FY2021 Change Change 1 Aerospace Systems 329.5 310.0 - 19.5 377.7 1340.0 - 37.7 - 31.6 18.0 + 23.6 Rolling Stock 77.0 70.0 7.0 133.2 150.0 + 16.8 - 4.5 3.0 + 7.5 Energy Solution & 317.1 400.0 + 82.9 319.5 320.0 + 0.5 10.3 3.5 6.8 Marine Engineering Precision Machinery & Robot 259.4 260.0 + 0.6 240.8 250.0 + 9.2 2 14.0 16.0 + 2.0 2 Motorcycle & Engine 336.6 380.0 + 43.4 336.6 380.0 + 43.4 11.7 17.0 + 5.3 Ohters 82.5 60.0 - 22.5 80.4 1 60.0 - 20.4 0.4 2.0 + 1.6 Eliminations and corporate X2 - 5.7 - 3.5 + 2.2 Total 1,402.4 1,480.0 + 77.6 1,488.4 1,500.0 + 11.6 - 5.3 30.0 + 35.3 1 The application of the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020) is expected to have a negative impact of approximately ¥73 billion on net sales and ¥10 billion on operating income *2 "Eliminations and corporate" includes some expenses incurred at Head Office which were not allocated to each industry segment for internal reporting © Kawasaki Heavy Industries, Ltd. All Rights Reserved Kawasaki Powering your potential 14

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