TOYOTA CITY, Japan (Feb. 13, 2023) ― Toyota Motor Corporation (TMC) announced today that it intends to implement changes to its executive structure and senior professional/senior management employees effective March 1 and April 1, 2023, and changes to its Board of Directors effective the date of its 119^th Ordinary General Shareholders’ Meeting as described below.

TMC announced on January 26, 2023 that Chairman Takeshi Uchiyamada will resign his post, President Akio Toyoda will be appointed chairman, and Operating Officer Koji Sato will be appointed president, effective April 1, 2023.

At the time of the announcement in January, Operating Officer Sato expressed his resolve in assuming the post of president, saying, “Our new team’s theme is ‘inheritance and evolution’. We will implement product-centered and region-centered management while valuing the philosophy of our company’s founding and will endeavor to fully redesign Toyota into a mobility company. Making ever-better cars and being the best car company in town are exactly the values that Toyota must hold. With these values so deeply instilled in the company by President Toyoda over the past 13 years, what the new team must do is push implementation at greater speed.”

The new structure that is to implement product-centered and region-centered management led by incoming President Sato is as follows.

Operating Officer structure effective April 1

TMC’s three current executive vice presidents—Kenta Kon, Masahiko Maeda, and Masanori Kuwata—are to be frontline leaders to speedily implement the following three key business themes set forth by the new structure.

The details of other executive and senior professionals/senior management changes and the structure of the Board of Directors as of the date of the 119th Ordinary General Shareholders’ Meeting are as follows.

1. Executive changes effective March 1

Changes in areas of responsibility for executives

2. Senior professionals/senior management (Senior General Manager level and above), effective March 1

1) New senior professionals/senior management (Senior General Manager level and above)

2) Resigning senior professionals/senior management (Senior General Manager level and above)

3) Changes in areas of responsibility for senior professionals/senior management (Senior General Manager level and above)

3. 3. Executive changes effective April 1

• Changes in areas of responsibility for executives

2) New Operating Officers

4. Senior professionals/senior management (Senior General Manager level and above), effective April 1

1) New senior professionals/senior management (Senior General Manager level and above)

2) Resigning senior professionals/senior management (Senior General Manager level and above)

3) Changes in areas of responsibility for senior professionals/senior management (Senior General Manager level and above)

5. Changes to the Board of Directors effective the date of the 119^th Ordinary General Shareholders’ Meeting

The formal appointment of members of the Board of Directors will be formalized after approval at the 119th Ordinary General Shareholders’ Meeting. The formal assignment of board members with specific titles, and the appointment of board members with the legal status to represent TMC (representative directors), will be made at the board of directors meeting following the 119th Ordinary General Shareholders’ Meeting. The resignation of board members leaving their current posts will become official on the day of the 119th Ordinary General Shareholders’ Meeting.

New Members of the Board of Directors

Members of the Board of Directors Resigning Posts