Earnings release for the six months ended June 30, 2026

FOR IMMEDIATE RELEASE August 4, 2026

Contact: IR Section, Finance Dept.

Grand Green Osaka South Building Park Tower, 5-54 Ofukacho, Kita-ku, Osaka 530-0011, Japan

Phone: +81-6-6648-2645

Kubota Corporation hereby reports its consolidated results for the six months ended June 30, 2026.

1. Consolidated financial results for the six months ended June 30, 2026

   1. Results of operations (Unit: millions of yen, except per share amounts)

      	Six months ended June 30, 2026	Change (%)	Six months ended June 30, 2025	Change (%)
      Revenue	¥ 1,690,280	16.2	¥ 1,454,933	(7.9)
      Operating profit	¥ 235,567	64.7	¥ 143,028	(31.0)
      Profit before income taxes	¥ 247,751	63.6	¥ 151,451	(30.1)
      Profit for the period	¥ 185,685	58.2	¥ 117,380	(28.5)
      Profit attributable to owners of the parent	¥ 173,681	87.8	¥ 92,479	(38.7)
      Comprehensive income (loss) for the period	¥ 236,632	-	(¥ 19,007)	-
      Earnings per share attributable to owners of the parent:
      Basic Diluted	¥ 152.96 -		¥ 80.60 -

   2. Financial position (Unit: millions of yen)

      	June 30, 2026	Dec. 31, 2025
      Total assets	¥ 6,354,555	¥ 6,204,909
      Total equity	¥ 3,040,246	¥ 2,873,024
      Equity attributable to owners of the parent	¥ 2,794,766	¥ 2,622,985
      Ratio of equity attributable to owners of the parent to total assets	44.0%	42.3%

      Notes:

      1. Change (%) represents the percentage of change from the same period in the prior year.

      2. Amounts less than one million yen are rounded.

2. Cash dividends

   (Unit: yen)

   	Cash dividends per common share
   	Interim	Year-end	Total
   Year ending Dec. 31, 2026	¥ 26.00	¥ 26.00 (forecast)	¥ 52.00 (forecast)
   Year ended Dec. 31, 2025	¥ 25.00	¥ 25.00	¥ 50.00

   Note:

   Revisions to the forecast of cash dividends since the latest announcement: None

   Kubota Corporation and Its Subsidiaries

3. Forecasts of operations for the year ending December 31, 2026

   (Unit: millions of yen, except per share amounts)

   	Year ending Dec. 31, 2026	Change (%)
   Revenue	¥ 3,280,000	8.6
   Operating profit	¥ 400,000	50.7
   Profit before income taxes	¥ 417,000	47.8
   Profit attributable to owners of the parent	¥ 289,000	54.8
   Earnings per share attributable to owners of the parent - basic	¥ 255.55

   Notes:

   1. Change (%) represents the percentage of change from the prior year.

   2. Please refer to the accompanying materials, "1. Review of operations and financial results (3) Forecasts for the year ending December 31, 2026" on page 6 for further information related to the forecasts of operations.

4. Other information

1. Changes in significant subsidiaries during the six months ended June 30, 2026 (changes in specified subsidiaries in the changes in scope of consolidation): None

2. Changes in accounting policies and changes in accounting estimates

   1. Changes in accounting policies required by International Financial Reporting Standards (hereinafter "IFRS"): None

   2. Changes in accounting policies due to reasons other than a) above: None

   3. Changes in accounting estimates: None

3. Number of common shares issued

   :	1,138,716,846
   :	1,138,716,846
   :	12,324,322
   :	1,652,299
   :	1,135,430,092
   :	1,147,390,025

   1. Number of common shares issued, including treasury shares, as of June 30, 2026 Number of common shares issued, including treasury shares, as of December 31, 2025

   2. Number of treasury shares as of June 30, 2026 Number of treasury shares as of December 31, 2025

   3. Weighted-average number of common shares outstanding during the six months ended June 30, 2026 Weighted-average number of common shares outstanding during the six months ended June 30, 2025

Information on the status of the quarterly review by the independent auditor

This release is not subject to the quarterly review by the independent auditor.

Method of obtaining supplementary materials on the financial results

Kubota Corporation plans to hold a result briefing for institutional investors and securities analysts on August 4, 2026. The supplementary material will be published on the Company's website on the same day.

Kubota Corporation and Its Subsidiaries

1. Review of operations and financial results 4

   1. Summary of the results of operations for the six-month period 4

   2. Financial position 5

   3. Forecasts for the year ending December 31, 2026 6

2. Other information 6

   1. Changes in significant subsidiaries 6

   2. Changes in accounting policies 6

3. Condensed consolidated financial statements 7

   1. Condensed consolidated statement of financial position 7

   2. Condensed consolidated statement of profit or loss 9

   3. Condensed consolidated statement of comprehensive income 10

   4. Condensed consolidated statement of changes in equity 11

   5. Condensed consolidated statement of cash flows 12

   6. Significant matters serving as the basis for condensed consolidated financial statements preparation 12

   7. Notes to the going concern assumption 12

   8. Consolidated segment information 13

   9. Consolidated revenue by product group 14

1. Review of operations and financial results

   Kubota Corporation and Its Subsidiaries

   Effective from the beginning of the current consolidated fiscal year, the Company changed its business reporting structure based on changes in internal management reporting. Consequently, corporate expenses that were formerly included in the "Adjustment" have been included in each business segment. To reflect this change in this Earnings release, year-on-year comparisons are calculated based on the figures after the reclassification.

   1. Summary of the results of operations for the six-month period

      For the six months ended June 30, 2026, revenue of Kubota Corporation and its subsidiaries (hereinafter, the "Company") increased by ¥235.3 billion (16.2%) from the same period in the prior year to ¥1,690.3 billion.

      Domestic revenue increased by ¥29.6 billion (8.9%) from the same period in the prior year to ¥361.9 billion because of increased sales from Farm & Industrial Machinery, Water & Environment.

      Overseas revenue increased by ¥205.8 billion (18.3%) from the same period in the prior year to ¥1,328.4 billion because of increased sales from Farm & Industrial Machinery.

      Operating profit increased by ¥92.5 billion (64.7%) from the same period in the prior year to ¥235.6 billion mainly due to price revisions and higher sales volumes in North America for Farm & Industrial Machinery, as well as favorable exchange rates and U.S. tariff refunds, despite some negative factors such as cost increases related to U.S. tariffs and higher expenses due to inflation. Profit before income taxes increased by ¥96.3 billion (63.6%) from the same period in the prior year to ¥247.8 billion. Profit for the period increased by ¥68.3 billion (58.2%) to ¥185.7 billion, reflecting income tax expenses of ¥64.3 billion and share of profits of investments accounted for using the equity method of ¥2.3 billion. Profit attributable to owners of the parent increased by ¥81.2 billion (87.8%) from the same period in the prior year to ¥173.7 billion.

      Revenue from external customers and operating profit by each reportable segment were as follows:

      1. Farm & Industrial Machinery

         Farm & Industrial Machinery is composed of farm equipment, agricultural-related products, engines, and construction machinery.

         Revenue in this segment increased by 18.1% from the same period in the prior year to ¥1,496.9 billion, which accounted for 88.6% of consolidated revenue.

         Domestic revenue increased by 13.1% from the same period in the prior year to ¥196.8 billion mainly due to increased sales of farm equipment and engines.

         Overseas revenue increased by 18.9% from the same period in the prior year to ¥1,300.1 billion. In North America, the construction machinery (hereinafter, the "CE") market remained firm, supported by public investment and private construction demand. As for tractors, residential demand weakened due to the deterioration in business sentiment caused by the Middle East situation, and agricultural demand also slowed as farmers' income conditions worsened, while livestock demand remained firm, supported by high livestock product prices. In Europe, the tractor market held at the previous year's level, although it remained sluggish due to depressed agricultural product prices. Meanwhile, sales increased as inventories normalized from last year's adjustment phase. Demand for CE continues to recover, driven by expanding infrastructure investment. In Thailand, against a backdrop of weak farm incomes, the market remained at a low level and the challenging business environment continued. In India, market growth continues, driven by government rural support measures and favorable agricultural conditions.

         Operating profit in this segment increased by 56.4% from the same period in the prior year to ¥212.2 billion mainly due to price revisions and higher sales volumes in North America, as well as favorable exchange rates and U.S. tariff

         Kubota Corporation and Its Subsidiaries

         refunds, despite negative factors such as cost increases related to U.S. tariffs and higher expenses due to inflation.

      2. Water & Environment

         Water & Environment is composed of pipe system business (ductile iron pipes, plastic pipes, and other products), industrial products business (reformer and cracking tubes, spiral-welded steel pipes, air-conditioning equipment, and other products), and environment business (environmental control plants, pumps, and other products).

         Revenue in this segment increased by 3.7% from the same period in the prior year to ¥186.2 billion, which accounted for 11.0% of consolidated revenue.

         Domestic revenue increased by 5.1% from the same period in the prior year to ¥157.9 billion due to increased sales in each business.

         Overseas revenue decreased by 3.5% from the same period in the prior year to ¥28.3 billion due to decreased sales mainly in pipe system business.

         Operating profit in this segment increased by 3.1% from the same period in the prior year to ¥17.1 billion due to price increases that offset the impact of higher raw material costs.

      3. Other

      Other is mainly composed of a variety of other services.

      Revenue in this segment decreased by 9.7% from the same period in the prior year to ¥7.2 billion and accounted for 0.4% of consolidated revenue.

      Operating profit in this segment decreased by 36.8% from the same period in the prior year to ¥0.4 billion.

   2. Financial position

      1. Assets, liabilities, and equity

         Total assets as of June 30, 2026, were ¥6,354.6 billion, an increase of ¥149.6 billion from the prior fiscal year-end.

         With respect to assets, trade receivables increased mainly in the North America business.

         Total liabilities decreased from the prior fiscal year-end mainly due to a decrease in trade payables and other financial liabilities. Equity increased due to the accumulation of retained earnings and an improvement in other components of equity along with fluctuations mainly in foreign exchange rates.

         The ratio of equity attributable to owners of the parent to total assets stood at 44.0%, 1.7 percentage points higher than the prior fiscal year-end.

      2. Cash flows

Net cash provided in operating activities during the six months ended June 30, 2026, was ¥190.6 billion, an increase of ¥47.8 billion in net cash inflow compared with the same period in the prior year. This increase resulted mainly from higher profit for the period and a decrease in finance receivables.

Net cash used in investing activities was ¥68.6 billion, a decrease of ¥11.4 billion in net cash outflow compared with the same period in the prior year. This resulted mainly from a decrease in expenditure related to acquisition of property, plant, and equipment.

Net cash used by financing activities was ¥107.6 billion, a decrease of ¥35.3 billion in net cash outflow compared with the same period in the prior year mainly due to a decrease in repayments of short-term borrowings.

As a result of the above and after taking into account the effects of exchange rate changes, cash and cash equivalents as of June 30, 2026, were ¥303.3 billion, an increase of ¥26.3 billion from the beginning of the current period.

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