ヤマハ発動機（7272） – Partial Corrections to “Notice of the 87th Ordinary General Meeting of Shareholders”

March 22, 2022 To: Shareholders of Yamaha Motor Co., Ltd. From: Yamaha Motor Co., Ltd. 2500 Shingai, Iwata-shi, Shizuoka, Japan President, Chief Executive Officer and Representative Director Yoshihiro Hidaka Partial Corrections to “Notice of the 87th Ordinary General Meeting of Shareholders” Yamaha Motor Co., Ltd. reported today that it made partial corrections to the “Notice of the 87th Ordinary General Meeting of Shareholders”. Details are shown below. Particulars Page 76 of the “87th Ordinary General Meeting of Shareholders” Consolidated Financial Statements Notes to Consolidated Financial Statements IV. Notes to Accounting Estimates 2. Recoverability of deferred tax assets pertaining to Yamaha Motor Co., Ltd., which is included in the domestic consolidated tax grouping (1) Amount recorded in consolidated financial statements at the end of the fiscal year ended December 31, 2021 (The corrections are underlined below.) Deferred tax assets recorded in the consolidated balance sheets at the end of the fiscal year ended December 31, 2021 are ¥30,733 million. Of this amount, the amount of deferred tax assets pertaining to Yamaha Motor Co., Ltd., which is included in the consolidated tax grouping prior to being offset with deferred tax liabilities is ¥19,722 million (after deducting the valuation allowance of ¥50,753 million). Deferred tax assets recorded in the consolidated balance sheets at the end of the fiscal year ended December 31, 2021 are ¥30,733 million. Of this amount, the amount of deferred tax assets pertaining to Yamaha Motor Co., Ltd., which is included in the consolidated tax grouping prior to being offset with deferred tax liabilities is ¥23,859 million (after deducting the valuation allowance of ¥17,514 million). Page 94 of the “87th Ordinary General Meeting of Shareholders” Non-consolidated Financial Statements Notes to Non-consolidated Financial Statements VIII. Notes to Transactions with Related Parties 2. Officers and Major Individual Shareholders, etc. (The corrections are underlined below.) Type Name Relationship with related parties Details of transaction Amount of transaction Account Ownership of voting rights, etc. Direct ownership 0.0% Hiroyuki Yanagi Chairman and Director of the Company Yoshihiro Hidaka Direct ownership 0.0% President and Representative Director of the Company Katsuaki Watanabe Direct ownership 0.0% Director of the Company Officer Katsuhito Yamaji Director of the Company Direct ownership 0.0% Takuya Nakata Direct ownership 0.0% President and Representative Director of Yamaha Corporation and Director of the Company In-kind contribution of monetary compensation claims (Note 1) In-kind contribution of monetary compensation claims (Note 1) In-kind contribution of monetary compensation claims (Note 1) In-kind contribution of monetary compensation claims (Note 1) Sales of investment securities (Note 2) Gain on sales of investment securities relating to said transactions Millions of yen Balance as of the end of the fiscal year – – – – – – 24 38 19 11 14,697 12,815 – – – – – – Note 1: In-kind contribution of monetary compensation claims associated with share remuneration with restriction on transfer. Note 2: The Company sold a portion of shares of common stock to Yamaha Corporation, for which Takuya Nakata serves as representative director. For the sale, we used the Off-Auction Own Share Repurchase Trading system (ToSTNeT-3), and traded at the closing price on August 24, 2021, the day prior to the transaction date. Relationship with related parties Details of transaction Amount of transaction Account Balance as of the end of the fiscal year Type Name Ownership of voting rights, etc. Direct ownership 0.0% Hiroyuki Yanagi Chairman and Director of the Company Yoshihiro Hidaka Direct ownership 0.0% President and Representative Director of the Company Katsuaki Watanabe Direct ownership 0.0% Representative Director of the Company Officer Katsuhito Yamaji Director of the Company Direct ownership 0.0% Takuya Nakata Direct ownership 0.0% Director, President and Representative Executive Officer of Yamaha Corporation and Director of the Company In-kind contribution of monetary compensation claims (Note 1) In-kind contribution of monetary compensation claims (Note 1) In-kind contribution of monetary compensation claims (Note 1) In-kind contribution of monetary compensation claims (Note 1) Sales of investment securities (Note 2) Gain on sales of investment securities relating to said transactions 24 38 19 11 14,697 12,815 – – – – – – – – – – – – Note 1: In-kind contribution of monetary compensation claims associated with share remuneration with restriction on transfer. Note 2: The Company sold a portion of shares of common stock to Yamaha Corporation, for which Takuya Nakata serves as Director, President and Representative Executive Officer. For the sale, we used the Off-Auction Own Share Repurchase Trading system (ToSTNeT-3), and traded at the closing price on August 24, 2021, the day prior to the transaction date.