Nissan Motor Co., Ltd. · TSE:7201
Nissan Motor — FY2022 Earnings Presentation
39 slides from Nissan Motor's earnings presentation, May 11, 2023
Slide 1: FY2022 Financial Results
NISSAN MOTOR CORPORATION FY2O29 FINANCIAL RESULTS May 11th 9093
Slide 2: Agenda
| FY2029 Financial Results 9D FY2023 Outlook 3 Nissan NEXT Progress and Strategy
Slide 3: FY2022 Financial Results
FY2029 Financial Results
Slide 4: FY22 Volume Results
FY292 Volume Results (Thousand units) Full Year Retail Sales Q4 Production Volume 937 8.8% 3,876 -14.7% —— 854 vs. FY21 390 (348) SWAMeuMO CHINA (Excluding DFAC*) — -5 4.8% (-49.3%) vs. FY21 EXCLUDING +23.9% CHINA -24,3% 547 CHINA (Excluding DFAC*) (21.19%) FY21 Q4 FY22 Q4 y . JAPAN 8.18 Q4 Retail S
Slide 5: Core Market Performance: Japan
Core Market Performance JAPAN | Reaffirming Commitment Core Model Performance Sakura Performance Note + Aura 4 SS ov , No.1 Segment Share Sales CAR OF THE YEAR Mead S=SSERE in electrified vehicles(118K units) 33 K watts Awards 2@ro€mission 2@ro€mission r] 3% & 11% FY21 Wo-rower FY22 Wa-rower 3 9x 36
Slide 6: Core Market Performance: US
Core Market Performance US | Ensuring Quality of Business Core Models Performance Rogue Altima Pathfinder Frontier a <i ee Sa. S tSh “memos 7 16, 2 6, ar 10, Net Rev/unit “a” © mo er isevzunt +20% ff <aeofl +369 FY20 FY21_ FY22 FY20 FY21 FY22 FY20 FY21 FY22 FY20 FY21 FY22 NISSAN MOTOR CORPORATION
Slide 7: Core Market Performance: Europe
Core Market Performance EUROPE | Expanding the Electrified Models Electrification Sales Mix 2@ro emission 2@roemission 12% 12% “On By @-POWER % FY21 FY22 rv 11% 23% NISSAN MOTOR CORPORATION Net Revenue per Unit +10% —_— FY21 FY22 Contributing Models Qashqai Leaf
Slide 8: Core Market Performance: China
Core Market Performance CHINA | Managing Performance Market Environment Nissan’s Performance Core Model Performance COVID Lockdown / Restrictions No.1 Sedan Sales 3 years in a row Sales Segment Share 421K units 15% Semiconductor Shortage . a eAfyal Perot Enhancing Customer Experience Rapid Digitaliz
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Slide 11: FY22 Financial Performance (Equity Basis)
FY29 Financial Performance (Equity Basis) (Billion Yen) FY21 YTD FY22 YTD Variance FY21 Q4 FY22 04 Variance Net Revenue 8,424.6 10,596.7 +2,172.1 2,270.6 3,097.0 +826.4 Operating Profit 2473 3771 +129.8 56.0 87.4 +31.4 OP Margin 2.9% 3.6% +0.7points 2.5% 2.8% +0.3 points Non-operating’! 58.8 138.3 5
Slide 12: FY22 Operating Profit Variance Analysis
FY29 Financial Performance (Equity Basis) Operating Profit Variance Analysis FY22 vs. Previous Year (illion Yen) +491.1 -126.6 DS ess +1857 -230.8 | | 3771 2473 | | | | Sal i FY21 YTD Forex Raw Materials Performance = Monozukuri Others FY22 YTD Breakdown | Volume/Mix +185.2| Manufacturing 27.9 | Sal
Slide 13: FY2023 Outlook
o FY2023 Outlook
Slide 14: FY23 Volume Outlook
FY23 Volume Outlook Production (Thousand units) Retail Volume (Thousand units) +21.0% Wi 4,100 L. 4,000 vs. FY22 VA CHINA +8.1% 3.38] (Excluding DFAC*) (+19.5%) JAPAN +12.1% NORTH +29,0% | EXCLUDING AMERICA CHINA: +27.0% EUROPE +26.5% ATA OTHERS +37.2% FY22 Actual FY23 Outlook FY22 Actual FY23 Outlo
Slide 15: FY23 Outlook (Equity Basis)
FY23 Outlook (Equity Basis) ee Get, Variance Variance % (Billion Yen) Net Revenue 10,596.7 12,400.0 +1,803.3 +17.0% Operating Profit 3771 520.0 +142.9 +379% OP Margin 3.6% 4.2% +0.6 points Net Income* 221.9 315.0 +93.1 +42.0% FX Rate (USD/JPY) 136 130 6 (EUR/JPY) 141 135 6 “Net income attributable t
Slide 16: FY23 Operating Profit Variance Analysis
FY23 Outlook (Equity Basis) Operating Profit Variance Analysis FY23 Outlook Vs. FY22 Actual (Billion Yen) +450 -110 -142 520 377 -85 +30 Es FY22 . Sales Monozukuri FY23 ACTUAL Forex Raw Materials Performance Cost Others OUTLOOK Breakdown __| Volume/mix +830] Inflation -80 | Sales Finance -70 Selling
Slide 17: Shareholder Return
Shareholder Return Dividend Per Share NISSAN MOTOR CORPORATION 5 yen FY21 10 yen FY22 15 yen or more FY23 Outlook
Slide 18: Nissan NEXT
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Slide 19: Progress of Nissan NEXT
Progress of Nissan NEXT Successfully Launched New Models Kicks e-POWER Ariya Pathfinder Rogue/ X-Trail Frontier Sakura Nissan Magnite INFINITI QX55 Qashqai Serena dia ee Note/Aura INFINITI QX60 Townstar = NISSAN All MOTOR CORPORATION 4, > ill)
Slide 20: Progress of Nissan NEXT: Innovations
Progress of Nissan NEXT Innovations " Allesolid-state Batt@ry: NISSAN MOTOR CORPORATION Next Generation LIDAR
Slide 21: Changing Landscape in China
E E NISSAN MOTOR CORPORATION Changing Landscape in China as
Slide 22: Realizing the Long-term Vision
Realizing the Long-term Vision New Mid-term Plan AMBITI_N 2030 Together we empower mobility and beyond NISSAN MOTOR CORPORATION
Slide 23: PRS
4 PRS NISSAN MOTOR CORPORATION
Slide 24: Appendix
Slide 25: ■ ■ 0.0 0.9 .8 0.0 08 350 700 0 0.7 800 300 600
■ ■ 120 0 500 100 00 1 0.0 1 450 900 0 0.9 100 0 400 800 0 0.8 0.0 08 350 700 0 0.7 800 300 600 0 0.6 0.0 06 600 250 500 0 0.5 200 400 0 0.4 0.0 04 400 150 300 0 0.3 100 200 0 0.2 0.0 02 200 50 100 0 0.1 0 0 0 0 0 • • • • •
Slide 26: Sales Financing
Sales Financing . BL Penetration Reta DNAF (Retail) DNFL (Lease) NFS NMAC NCF NRFM FY21 FY22 FY21 FY22 FY21 FY22 FY21 FY22 FY21 FY22 YTD YTD YTD YTD YTD YTD YTD YTD YTD YTD NFS: Nissan Financial Services, sales finance company in Japan NRFM: NR Finance Mexico, sales finance company in Mexico NMAC: N
Slide 27: Sales Financing: Net Credit Loss Ratio
Sales Financing Net Credit Loss Ratio NFS NMAC NCF DNAF/DNFL* Lease Retail Total Lease Retail Total Lease Retail Total Lease Retail Total FY21YTD 0.01% 0.06% 0.05% -0.47% 0.30% -0.03% -0.02% 0.05% 0.02% 0.94% 0.12% 0.19% FY22YTD 0.02% 0.05% 0.05% -0.29% 040% 0.13% -0.01% 0.06% 0.03% 1.24% 0.31% 0.41
Slide 28: Sales Financing: Operating Profit & Asset
Sales Financing Operating Profit & Asset NFS NMAC* NCF NRFM DNAF/DNFL (Billion JPY) (Million USD) (Million CAD) (Million MXN) (Million CNY) Asset OP Asset OP Asset OP Asset OP Asset OP FY21YTD 1,871.9 407 39,567 1,894 7,623 281 81,160 5,576 69,952 3,017 FY22YTD 1,373.6 35.2 37,517 1,104 6,691 225 82
Slide 29: FY22 YTD Sales Performance
FY292 YTD Sales Performance TIV (Million units) Retail Volume (Thousand units) vs. FY21 3,876 ys. FY21 2461 6. CHINA +5.7% CHINA -24.3% (Excluding DFAC*) 21.1%) 4.99 JAPAN -+4,0% 1662 NORTH nag ewe erica = 25% JAPAN 46.1% (14.47) 3.96) us) : NORTH 14.55 EUROPE -6.1% AMERICA aes (1394) MEKOOME (Exclu
Slide 30: FY22 Q4 Sales Performance
FY292 Q4 (3 months) Sales Performance TIV (Million units) Retail Volume (Thousand units) vs. FY21 970 -78% vs. FY21 CHINA -42.7% cul eke (Excluding DFAC*) 35.7%) JAPAN +15,4% JAPAN +3.6% NORTH 5 america 18.18 +6.9%) es) NORTH ; AMERICA — (\74%8 EUROPE —-+11.7% (us) : (Excluding Russia) (+15,7%) 100
Slide 31: FY22 Consolidated Sales Volume
FY292 Consolidated Sales Volume FY22 YTD (Thousand units) FY22 Q4 (Thousand units) +6.9% a 9,451 vs. FY21 +23.5% vs. FY21 2,294 a JAPAN 49,29 JAPAN +7.6% NORTH +9.6% NORTY AVTESIOA ° AMERICA *26:4% EUROPE +5.9% EUROPE +29.7% ASIA 6.9% ASIA +4.2% 390 OTHERS +5.9% 87 OTHERS +44.0% FY21 YTD FY21 Q4 ~s
Slide 32: FY22 Q4 Operating Profit Variance Analysis
FY29 Financial Performance (Equity Basis) Operating Profit Variance Analysis FY22 Q4 (3 months) vs. Previous Year @illion Yen) +149.1 -14.8 a “els +239 50.2 a 87.4 Sales Monozukuri FY21 O4 Forex Raw Materials Performance Cost Others FY22 Q4 Breakdown _ | Volume/Mix +92.6] Manufacturing +39 |Sales Fi
Slide 33: FY22 Quarterly Income Statement
FY22 Financial Performance (Equity Basis) FY22 Quarterly Income Statement (Billion Yen) ai Q2 Q3 a4 FY22 YTD Net Revenue 2,137.3 2,524.9 2,837.4 3,097.0 10,596.7 Operating Profit 64.9 91.7 133.1 87.4 377.1 OP Margin 3.0% 3.6% 47% 2.8% 3.6% Non-operating’! 39.1 1.2 50.4 416 138.3 Ordinary Profit 104.
Slide 34: Operating Profit Variance Analysis: Forex
FY29 Financial Performance (Equity Basis) Operating Profit Variance Analysis: Forex FY22 YTD FY22 Q4 Cureney Rate Rate ononsen, = umeney Re Rate aon USD 112.4 135.5 312.7 USD 16.3 132.4 62.2 CAD 89.7 102.5 34.4 CAD 91.8 979 49 MXN 6.5 69 “Al MXN y/ 71 Sillins) CNY 170 19.5 -31.7 CNY 178 19.9 -8.3 TH
Slide 35: Operating Profit Variance Analysis: Sales Performance
FY29 Financial Performance (Equity Basis) Operating Profit Variance Analysis: Sales Performance (Bitten FY22 YTD FY22 Q4 Volume’! Mix Incentives 2 Total Volume’! Mix Incentives 2 Total . Japan 146 “3.4 27 84 18 27 -1.0 -18 S US 86.7 54.2 “167 124.1 55.3 270 “15.7 66.6 3 Europe 13.8 165 22.3 81 179 0
Slide 36: FY22 Automotive Free Cash Flow
FY29 Financial Performance (Equity Basis) FY22 Automotive Free Cash Flow (Billion Yen) Ql Q2 Q3 Q4 FY22 YTD Net Cash Inflow From P&L Items +465 +56.5 +197.4 +118.2 +4187 AP/AR -64.1 +350.1 +46.4 +39.9 +382.5 Inventory -135.6 -220.4 -34.8 +114.4 -276.3 Working Capital -189.7 +129.7 +11.6 +1543 +106.2
Slide 37: Inventory Status (Excluding China JV)
Inventory Status (Excluding China JV) (Thousand units) 850 800 | 390 380 390 330 st » = i lL] 280 290 = aia a FY18Q4 FY19Q4 FY2004 FY21Q1 FY210Q2 FY21Q3 FY21Q4 FY22Q1 FY220Q2 FY2203 FY2204 Il Dealer inventory, except some minor countries Consolidated Nissan inventory, except some minor countries NIS
Slide 38: Net Cash by Business Segment
Net Cash by Business Segment (Equity Basis) As Of March 31, 2022 As Of March 31, 2023 Automobile & Sales Total Automobile & Sales Total iminations Financing Eliminations Financing (Billion Yen) Borrowings From Third Parties 1,8675 5,264.9 7132.4 2,144.0 4,895.1 7,039.1 Internal Loan to Sales Financi
Slide 39: Forward-looking statements
This presentation contains forward-looking statements, based on judgments and estimates that have been made on the basis of currently available information. By nature, such statements are subject to uncertainty and risk. Therefore, you are advised that the final results might be significantly differ