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OHT Business UpdateFebruary 19, 2026The Yokohama Rubber Co., Ltd.
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Copyright(C) THE YOKOHAMA RUBBER CO., LTD. Market recovery in OHT segment still softSome rebound in AG OE, but overall market weakness persists — full recovery is delayed AG commodity prices Geopolitical & tariff uncertainty Additional demand drivers• Prices for main AG commodities remains weak, resulting in farmers delaying investments wherever possible • Geopolitical and tariff uncertainties persist in the background, continuing to influence the broader operating environment• Consumer sentiment in US remains weak and interest rates remain high WheatSoybeansCorn Jan ‘22 Jan ‘26 Jan ‘22 Jan ‘26 Jan ‘22 Jan ‘26 BlackRock Geopolitical Risk Indicator US Consumer Confidence Index Sources: Trading Economics | BlackRock Geopolitical Risk Dashboard | The Conference Board 2
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Copyright(C) THE YOKOHAMA RUBBER CO., LTD. We’re turning this moment into momentumGrowth initiativesCost synergiesInitiatives driving our current performance and securing long-term profitable growth when market recovers• Continued investment in products and technology, with 600+ new SKU released in 2025 and a similar volume planned for 2026• Focus on leveraging innovations, such as Progressive Traction technology, that increases tire efficiency and performance based on the action of a double lug• Launching more sizes with Pneutrac technology, which combines the advantages of a radial tire with the benefits of a rubber track• Expanding our portfolio into adjacent profitable niches, starting with rubber tracks• Leveraging multi-brand proposition covering the full spectrum of customer needs across premium and value segments• Capitalizing on competitors’ exit or lack of focus to strengthen our position in the non-brand-preference AG OE segment• Double-digit aftermarket growth for Mitas following its successful repositioning as a fighter brand• Addition of sales leaders in US and Europe with extensive Ag experience• Rationalizing underperforming and redundant assets -Hadera (Israel), Prague, Spartanburg (USA)• Enhancing operational flexibility to cope with sudden change of demand• Leveraging YRC’s scale to deliver ~$60M in cost and efficiency synergies in 2026• Cost savings through sharing best practices across OHT plants• Back office sharing across OHT businesses and Integrating GY-OTR business into existing OHT infrastructure to leverage SG&A3
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Copyright(C) THE YOKOHAMA RUBBER CO., LTD. Continued BP growth despite a challenging environment• OHT delivered +14% profit growth in 2025, outperforming a declining market despite headwinds from M&A activities (including Good Year OTR acquisition related one-time costs) • OHT initiatives are set to contribute JPY 5.4B in 2026, through combined market share gains and cost synergies• FY2026 business profit is projected to rise +31%, supported by these initiatives and positive contribution from inorganic / M&A activitiesOHT Business Profit After PPA Bridge(100 million yen)-32.538.237.110.439.913.832.1275.0-5.1312.8409.02024 MarketGrowthinitiativesCost synergiesInorganic /M&A2025 MarketGrowthinitiativesCost synergiesInorganic /M&A2026Initiatives: +53.7Initiatives: +75.34
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Copyright(C) THE YOKOHAMA RUBBER CO., LTD. Foundation firmly established for sustained BP expansion• BP expected to grow at ~ 20% CAGR, reaching ~ JPY 70B by 2029, assuming normal market recovery• Driving growth initiatives aimed at outpacing the market• Leveraging the impact of structural reforms and synergetic initiativesOHT Business Profit After PPA( Billion yen)31.340.9~ 702025 2026 20295