Toshiba : Toward the Enhancement of Corporate Value

Toward the Enhancement of Corporate Value

August 12, 2021

Satoshi Tsunakawa

President & CEO

Toshiba Corporation

© 2021 Toshiba Corporation

Forward-looking Statements

• This presentation contains forward-looking statements concerning future plans, strategies, and the performance of Toshiba Group.
• These statements are not historical facts; rather, they are based on assumptions and judgments formed by the management of Toshiba Group in light of currently available information. They include items which have not been finalized at this point and future plans which have yet to be confirmed or require further consideration.
• Since Toshiba Group promotes business in various market environments in many countries and regions, its activities are subject to a number of risks and uncertainties which include, but are not limited to, those related to economic conditions, worldwide mega-competition in the electronics business, customer demand, foreign currency exchange rates, tax and other regulations, geopolitical risk, and natural disasters. Toshiba therefore wishes to caution readers that actual results may differ from our expectations. Please refer to the annual securities report (Yuukashoken houkokusho) and the quarterly securities report (shihanki houkokusho) (both issued in Japanese only) for detailed information on Toshiba Group's business risk.
• Toshiba's fiscal year runs from April 1 to March 31. All figures are consolidated totals for 12 months, unless stated otherwise.
• Results in segments have been reclassified to reflect the current organizational structure, unless stated otherwise.
• Since Toshiba is not involved in the management of Kioxia Holdings (former Toshiba Memory Holdings, hereinafter "Kioxia") and is not provided any forecasted business results, Toshiba Group's forward-looking statements concerning financial conditions, results of operations, and cash flows do not include the impact of Kioxia.

© 2021 Toshiba Corporation

2

Contents

01

02

03

04

05

Update on the Activities by The New Board

Establishment of the Governance Enhancement Committee for Root Cause Analysis

Updates on Shareholder Return

Progress on Mid-Term Plan

Creation of "Ownership Culture"

© 2021 Toshiba Corporation

3

01 Update on the Activities by the New Board

Each Committee proactively functioning since June 25, 2021

Strategic Review

Committee

Nomination

Committee

Audit

Committee

Compensation

Committee

• Working rigorously and from an independent standpoint
• Discussions with external stakeholders and market participants
• Reviewing Toshiba Group's business, and preparing recommendations to the Board on Toshiba's strategy
• Selected executive search firms
• Searching candidates for Audit Committee, a successor to the Interim Chairperson of the Board, and a successor to the CEO
• Smoothly commenced its activities with newly-appointed committee members
• Selected the Governance Enhancement Committee members
• Conducting a review of current policies for short-term and long-term compensation
• Focus on creating greater "ownership culture" to better align performance objectives with shareholders expectations

© 2021 Toshiba Corporation

4

02 Establishment of the Governance Enhancement Committee for Root Cause Analysis

Taking the Investigator's conclusions seriously, will identify the root

cause in an objective and transparent manner

Objectives

• Analyzing the root cause
  ② Clarifying

responsibilities

③ Making suggestions for developing measures to prevent reoccurrence

Members of the Committee

Chairperson	Seishi KANETSUKI	Former Justice of Supreme Court of Japan
Member	Masaaki SAWANO	Attorney,
		Former President of Dai-Ichi Tokyo Bar
		Association
Member	Tadashi KAKIUCHI	Attorney,
		Former Chief Judge of Tokyo District Court
Member	Takao NAKAMURA	Attorney
Member	Mariko WATAHIKI	Outside Director of the Company,
		Attorney,
		Former Chief Justice of Nagoya High Court

© 2021 Toshiba Corporation

5