The fiscal 2025 effectiveness evaluation assessed that fiscal 2025 was the year in which the Board of Directors Members united in enhancing the Company’s corporate value, and the Outside Directors and Audit & Supervisory Board Members and executive team collaborated effectively in decision-making for Group management reform, demonstrating high effectiveness. On the other hand, to further clarify the vision and growth strategy that the Panasonic Group aims for, it was identified as an issue that focused discussions on growth strategy should be conducted in fiscal 2026, and mechanisms for effective discussions (including agenda design, clarification of discussion points, and further enhancement of information provision to the Board of Directors) need to be considered.

Based on the above results, a Board of Directors meeting held on July 30, 2025 discussed improvements to the issues concerning the current Board of Directors, the annual agenda, and the operational policy of the Board of Directors for fiscal 2026. Recommendations were made at the Board of Directors meeting regarding the following points, and the Board focused efforts on addressing them.

1. Following an Outside Director taking office as chairperson of the Board of Directors, confirming and deciding the agenda and other matters between the chairperson of the Board of Directors and the Group CEO every month
2. Monthly progress monitoring of Group management reforms and discussion towards formulation of the next mid-term Group strategy
3. Strengthening supervision of compliance incidents
4. Enacting the following as mechanisms for conducting effective discussions

   ・Sharing the intended resolution materials, in principle one week before the Board of Directors meeting date

   ・Always including in Board of Directors meetings explanations of how discussions were held at the PHD Strategy Meeting provided by the person who drafted the proposal

For the effectiveness evaluation in the current year, it was decided to carry out the evaluation from April to May to correspond with the Director term of office cycle, and to conduct interviews and also a free-response survey for the purpose of conducting the interviews effectively.

An overview of the survey is as shown below.

• Survey period: Early April 2026 to mid April 2026
• Period subject to evaluation: June 2025 to May 2026
• Survey subjects: Directors, Audit & Supervisory Board Members, Executive Officers in attendance
• Survey format: Total three questions (free-response format)
• Items of the survey:

1. Good points and points requiring improvement when looking back at "progress monitoring of Group management reforms" and "discussion of Group strategies"
2. Good points and points requiring improvement when looking back at agenda matters other than the above
3. Concerning the fiscal 2027 priority agenda

Based on the questionnaire and interview results, it was evaluated that in fiscal 2026, the Board of Directors focused on its main agenda on monitoring Group Management Reform and formulating Group Growth Strategy. Continuous discussions on these topics were held every month, and additional opportunities for discussion outside of Board meetings were also provided. As a result, the Board was able to concentrate on the roles it is originally expected to fulfill and effectively perform its functions.

In addition, in discussions on the Group Growth Strategy, Business CEOs also participated enabling more specific and in-depth discussions, including the strategies of each business. This led to an improvement in understanding of the Group strategy, as well as the quality and depth of discussions.

On the other hand, issues were identified, indicated that discussions should be further deepened regarding the Company as a holding company and the functional strategies that support the realization of the Group’s Growth Strategy. It was also noted that the Group’s long-term vision of what the Group aims to become should be further cleared through continued discussion.

Comments were also received regarding the need to strengthen preventive and proactive oversight functions for governance risks.

At the Board of Directors meeting held on July 30, 2026, discussions were conducted on measures to address the issues identified through effectiveness evaluation above, the following initiatives were recommended for fiscal 2027:

1. Focus on oversight to ensure the achievement of adjusted operating profit of ¥750 billion in fiscal 2029 and on further refining strategies for each business domain.
2. Conduct intensive discussions on the Group’s medium- to long-term strategy, utilizing off-site sessions outside formal Board of Directors meetings.
3. Continue regular monitoring of compliance and risk management as key agenda items. In particular, place emphasis on overseeing cybersecurity measures and geopolitical risks, which could have significant cross-company impact across the Group.
4. Further enhance initiatives aimed at expanding the knowledge and expertise of the Board of Directors.
5. Set Board agendas in consideration of the Corporate Governance Code revised in July 2026.

With respect to Board operations, the Company will continue to enhance effectiveness through ongoing reviews and continuous improvement efforts, including the active utilization of forums such as the Independent Directors’ Committee.