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Notice regarding Stock Split, Partial Amendment to the Articles of Incorporation, and Amendment to Shareholder Benefit Program

November 7, 2023

IWATA, November 7, 2023 - Yamaha Motor Co., Ltd. (Tokyo: 7272) ("the Company") announces that at the meeting of the Board of Directors held on Nov 7, 2023, the Company resolved to implement a stock split, and accordingly, partially amend the Articles of Incorporation. And In conjunction with the stock split, the Company also announces that it will change its shareholder benefit program.

1. Purpose of the stock split
The purpose is to expand the investor base by reducing the Company's stock price per
investment unit.

2. Overview of the stock split

3. Partial amendment to the Articles of Incorporation in connection with the stock split

4. Partial amendment to shareholder benefit program

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