Update on the New Management Policy

SUBARU CORPORATION

Atsushi Osaki, Representative Director, President & CEO

May 13th, 2024

K e y P o i n t s o f To d a y ' s B r i e f i n g

Advancing initiatives based on the principle of

"Flexibility" and "Expandability"

Development

BEV Development / Production

Monozukuri* Innovation

HEV Products / Production

Value Creation

Product

Manufacturing Plants

Production

* Monozukuri: Manufacturing

https://www.subaru.co.jp/en/ir/

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B E V D e v e l o p m e n t / P r o d u c t i o n ( B E V l i n e u p b y t h e e n d o f 2 0 2 6 )

4 SUVs to be in BEV lineup by the end of 2026 (Joint development)

  • BEV SUV manufactured at Subaru's Yajima Plant will also be supplied to Toyota Motor Corporation (TMC).
  • BEV SUV manufactured at TMC's U.S. Plant will also be supplied to Subaru.

SOLTERRA

SUV

SUV

Manufactured at

Manufactured at

TMC's U.S. plant

Subaru's Yajima Plant

Images are for illustration purposes only.

https://www.subaru.co.jp/en/ir/

3

H E V P r o d u c t s / P r o d u c t i o n

Forester (ICE / Next-gen.HEV)to be produced both in Japan and U.S. (SIA)

In addition to the Forester, a next-gen. hybrid version to be also introduced to

the Crosstrek

Images are for reference only.

https://www.subaru.co.jp/en/ir/

4

M a n u f a c t u r i n g P l a n t s

2024

Kitamoto

Plant

Main

ICE

Plant

ICE

Yajima

Plant

HEV

ICE

SIA

20252026

Next-gen. HEV transaxles

SOP: Fall 2024

Next-gen. HEV

BEV Starting BEV production (ICE/BEV mixed assembly line)

Next-gen. HEV

Next-gen. HEV

https://www.subaru.co.jp/en/ir/

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G o i n g F o r w a r d

Production

Becoming "One Subaru"

- Obeya activities*

- Collaboration with partnersTeams working in sync

for improved synergy/communication.

DevelopmentSupply

Chain

Chief Officers

Five Key Priority Areas

  • Monozukuri (Manufacturing) Innovation

Digital Car

Battery Business

  • Cost Innovation Connected Business

*Obeya activities: Cross-functional alignment among project members to enable agile development through a holistic view/approach, aimed at value creation, problem solving and accelerated development across organizational boundaries.

In-house-developed BEVs

Enhancing ICE* products

to be added in the lineup

Updates to be announced as appropriate)

By the end of 2028)

* Gasoline cars, HEVs, PHEVs, etc.

https://www.subaru.co.jp/en/ir/

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Forward-looking statements including projections and future strategies mentioned in this presentation are based on currently available information and assumptions and are subject to risks and uncertainties. Actual results may vary materially as a result of various factors including, without limitation, economic conditions, market demand and fluctuations in foreign exchange rates. Investors are asked not to rely solely on the information in this presentation when they make their final investment decisions.

https://www.subaru.co.jp/en/ir/

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Subaru Corp. published this content on 13 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2024 09:39:07 UTC.