Update on Disclosed Matters: Notice Regarding Participation in Tender Offer and Expected Posting of Extraordinary Gains in Non-Consolidated Results

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

March 6, 2026 Company name: DENSO CORPORATION

Name of representative: Shinnosuke Hayashi, President

(Securities code: 6902; Tokyo and Nagoya Stock Exchanges)

Inquiries: Tadashi Arai, Director, Finance & Accounting Div.

(Telephone: +81-566-25-5511)

DENSO CORPORATION (the "Company") has announced in its "Notice Regarding Participation in Tender Offer and Termination of Share Forward Agreement for Shares in Toyota Industries Corporation, and Expected Posting of Extraordinary Gains in Non-Consolidated Results" dated June 3, 2025 (the "June 3, 2025 Announcement") that the Company decided that if the tender offer for the share certificates, etc. of Toyota Industries Corporation ("Toyota Industries") (the "Tender Offer") by a stock company to be established by Toyota Fudosan Co., Ltd. ("Toyota Fudosan") (subsequently, such company was established as Toyota Asset Preparatory Co., Ltd. on June 9, 2025), as described in the "Notice Concerning Planned Commencement of Tender Offer for the Share Certificates, Etc. of Toyota Industries Corporation (Securities Code: 6201)" announced by Toyota Fudosan on June 3, 2025, is conducted, the Company will tender all of the common shares in Toyota Industries held by the Company in the Tender Offer.

Subsequently, as announced in the "Update on Disclosed Matters: Notice Regarding Participation in Tender Offer and Expected Posting of Extraordinary Gains in Non-Consolidated Results" dated January 14, 2026 (the "January 14, 2026 Announcement"), in response to Toyota Fudosan's announcement of the commencement of the Tender Offer, with the tender offer period from January 15, 2026 to February 12, 2026, and the expected purchase price in the Tender Offer at 18,800 yen per common share, the Company has announced that it had partially amended the content of the June 3, 2025 Announcement.

On March 6, 2026, Toyota Fudosan has announced that it will change the expected purchase price in the Tender Offer from 18,800 yen per common share to 20,600 yen per common share and extend the tender offer period until March 23, 2026. Accordingly, the Company hereby announces that it has partially amended the content of the January 14, 2026 Announcement, with the details as described below. The amended portions are underlined.

1. Expected Purchase Price in the Tender Offer

   (Before Amendment)

   18,800 yen per common share (expected total amount of sales: 278.7 billion yen)

   (After Amendment)

   20,600 yen per common share (expected total amount of sales: 305.4 billion yen)

2. Schedule of the Tender Offer (Before Amendment)

   1. Date of Public Notice for Commencing Tender Offer: January 15, 2026

   2. Tender Offer Period: January 15, 2026 to February 12, 2026

   3. Commencement Date of Settlement: February 19, 2026

      (After Amendment)

      1. Date of Public Notice for Commencing Tender Offer: January 15, 2026

      2. Tender Offer Period: January 15, 2026 to March 23, 2026

      3. Commencement Date of Settlement: March 30, 2026

3. Impact on Consolidated Earnings

(Before Amendment)

If the Tender Offer is successfully closed at the expected purchase price and all of the company's shares in Toyota Industries are sold during the fiscal year ending March 31, 2026, the Company expects to post extraordinary gains as gains on sale of investment securities of

252.4 billion yen in its non-consolidated results for the fiscal year ending March 31, 2026.

(Omitted)

(After Amendment)

If the Tender Offer is successfully closed at the expected purchase price and all of the company's shares in Toyota Industries are sold during the fiscal year ending March 31, 2026, the Company expects to post extraordinary gains as gains on sale of investment securities of

279.1 billion yen in its non-consolidated results for the fiscal year ending March 31, 2026.

(Omitted)

End