Tamron : FY2022 2Q Financial results briefing materials

2nd Quarter FY2022 Financial Results

August 8, 2022

Tamron Co., Ltd.

(Code: 7740)

Tamron Co., Ltd.

Contents

I. FY2022 Summary

1. 1. 1st Half Summary
   2. FY2022 Forecast
   3. Medium-termmanagement plan "Vision 23" and its Progress
2. 1st Half Financial Results
3. 1. 1st Half Financial Results
   2. 1st Half Performance Variation Factors
   3. 1st Half Results by Segment

① Photographic Products

②Surveillance & FA Lenses

③Mobility & Healthcare Products, Others

1. FY2022 Financial Forecast
2. 1. FY2022 Financial Forecast
   2. FY2022 Forecast by Segment ① Photographic Products
      ②Surveillance & FA Lenses
      ③Mobility & Healthcare Products, Others
   3. Sustainability and ESG Initiatives

IV. Reference Data

1. Financial Summary
2. Capital Investment, Depreciation, and Research & Development Expenses
3. Cash Flow Situation
4. Cash Dividends Outlook and Key Performance Indicators
5. Impact of Foreign Exchange Rate Fluctuations

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I. FY 2022 Summary

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I-1. 1st Half Summary

Business Environment

・Affected by the epidemic of the omicron variant of COVID-19

⇒At first of 1H: State of emergency in Japan/ Continued restrictions in each country After the Middle of 1H: Lockdown in China

・Affected by rise of material prices, tight logistics supply and demand, and semiconductor shortages. ⇒In addition, Russia's invasion of Ukraine affected economic activity.

・Positive impact of yen depreciation on net sales and earnings.

・Market environment: Interchangeable lens cameras and interchangeable lenses increased in monetary terms but, decreased in quantity terms YoY.

Company's Results

・Net sales increased by more than 15%, and operating income increased by more than 1.5 times compared to the same period of the previous year.

⇒Sales increased and operating income on net sales achieved more than 10% in all segments.

⇒Sales and profits on our mainstay Photographic Products and the second pillar, Surveillance & FA lenses

achieved double-digit increase.

・Gross margin increased by about 2 percentage points, SG&A expenses on net sales decreased by about 3 percentage points.

⇒In addition to carry-over costs to the 2nd Half, we reduced costs by suppressing the rise of material cost, and realized efficient and appropriate expenditures

• Operating income, ordinary income and net income in the1st Half reached our historic high.
• Increased the interim dividend by 5 yen

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Ⅰ -２. FY2022 Forecast

Business Environment

・Uncertainties due to the spread of COVID-19 is expected to continue. ⇒After-effect of lockdown and zero-COVID measures in China

・Long-term resource high, material cost rising, and semiconductor shortages, a continuous depreciation of JPY, and growing concerns about inflation are expected.

⇒Impact on economic activity and the real economy due to Russia's invasion of Ukraine will become apparent

Company's Forecast

【Forecast for the 2nd half】

・Expected to review of production plan and development delay on the customer side due to semiconductor shortages and lockdown in China.

・Expected to increase costs due to the gradual reflection of rising material. ・In addition to carry-over costs from the 1st Half, investment and SG&A

expenses expected to increase due to new launches of own-brand photographic products in 2nd Half, and medium-tolong-term measures.

【Forecast for the full year 】

Aiming to set record-high profits with double-digit increase in net sales and increase in operating income by more than 1.3 times compared to the same period of the previous year.

We are aiming to set record high in operating income, ordinary income, and net income. (Operating income and ordinary income are to be the first time in 15 years since 2007.) (Net income is to be the first time in 3 years since 2019.)

⇒Aiming for a profitable structure that can respond to various changes, and sustainable growth through investment and measures

【Changes in FY2022 Forecast】

Revised upward in both sales and profits

(billions of JPY)

Net Sales

Operating Income

15.2%

12.5%

13.6%

61.0

62.4

63.7

9.7

8.5

7.6

Feb. 9

Apr. 28

Revised

Feb. 9

Apr. 28

Revised

Original

Revised

Forecast

Original

Revised

Forecast

Forecast

Forecast

Forecast

Forecast

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