Nissan Motor Co., Ltd. · TSE:7201
Nissan Motor — Q1 FY2025 Earnings Presentation
34 slides from Nissan Motor's earnings presentation, Jul 30, 2025
Slide 1: FY2025 First Quarter Financial Results
Ro NISSAN FY2025 First Quarter Financial Results 30 JULY 2025
Slide 2: Re:Nissan Progress, Q1 Financial Results, Q2 Outlook
RE:NISSAN =: Re:Nissan Progress :-Q1 Financial Results = Q2 Outlook
Slide 3: Re:Nissan Progress
RE:NISSAN =: Re:Nissan Progress
Slide 4: Recovery Plan
= Recovery Plan Key drivers 01 Reduce cost structure o9 Redefine market and product strategy 03 Reinforce partnerships RE:NISSAN Positive auto operating profit & free cash flow BY FY 26
Slide 5: Cost Targets by FY2026
= Cost Targets by FY2026 RE:NISSAN Variable Targeting Cost v 2 5 @ B JPY savings to total 5 OOB wy » VS FY24 ACTUALS Vs FY24 actuals | FY26 forex assumption at 140 ye
Slide 6: Variable Cost - Actions & Decisions
: Variable Cost - Actions & Decisions RE:NISSAN RAPID MOBILIZATION: 3-MONTH HIGH-INTENSITY DEPLOYMENT 4,000 IDEAS GENERATED TdC* Transformation » = 3 months intensive ideation = 300 experts engaged in specialized efforts 1 6 O O 7 = 3,000 cross-functional employees temporarily reassigned IDEAS READY
Slide 7: Fixed Cost - Actions & Decisions
: Fixed cost - actions & decisions RE:NISSAN EFFICIENCY THROUGH COST DISCIPLINE i mt =* Restructure Manufacturing Reduce’ & Rationalize Announced 5 of 7 consolidated sites Cost task force to audit SiWarcentina(plant OTHER entire value chain Stop production of Nissan vehicles ACTIONS = RNAIPL, India
Slide 8: Upcoming all-new and new models
Models shown are upcoming all-new and new models, including additional grade and specs versions. Timing indicate time of reveal.
Slide 9: Variable Cost Progress Chart
Variable cost = Progress Chart RE:NISSAN B: Kickoff Completion of action FY25 Ce @: PAL impact a1 02 O84 OT) a2) as) a4) i) 2608 Variable cost transformation es o ee -B wer idaion Reduction/Consolidation @ 7 sites Powertrain plant consolidation S | Revamp Gradual Deployment a | | Workforce racing Im
Slide 10: Slide 10
Slide 11: Q1 Key Takeaways
= Q1 Key Takeaways _z Financial Performance Liquidity & Funding Outlook & Recovery Path = Muted start as expected in Q1 with = Raised 860B in funds (straight bond = FY25 retail sales volume forecast retail sales down by 10% and convertible) in July 2025 and confirmed, OP to remain break-even ; { = O
Slide 12: FY25 First Quarter Volume Results
: FY25 First Quarter Volume Results Retail Sales (Thousand units) Production Volume -10.1% -14.2% 787 784 NM vs. FY24 \ 673 vs. FY24 hina -27.5% Chats China -30.8% Japan -11.1% North “are : Dancin 2.4% Exell China: Others -9.7% -5.4% Europe -5.1% Others -9.1% FY24Q1 FY25Q1 FY24Q1 FY25Q1
Slide 13: FY25 First Quarter Financial Performance
: FY25 First Quarter Financial Performance Operating Profit | FY24Q1 M&M FY25 Qi (Billion Yen) Consolidated Net Revenue (OP margin) Net Income” CAPEX R&D 2,998.4 1.0 28.6 2,706.9 (0.0%) 147: 1974 479 140.3 100.8 Lease 24 Asset -79.1 (-2.9%) 98.7 115.8 Net Revenue C}peneniing csi: Free Cash Flow Net
Slide 14: Operating Profit Variance Analysis
= Operating Profit Variance Analysis (Bilion Yen) FY25 Q1 Actual vs. Previous Year 1.0 -79.1 (0.0%) -39.7 (-2.9%) 71.2 -68.7 +25.0 -25.9 +28.9 -3.3 S| | | +4.8 — FY24 Raw a Sales Monozukuri 9 = FY25 Forex 5 Tariff Inflation One Time Others ai Materials Performance Cost ai Warranty Volume/Mix +4.2 |
Slide 15: Funding and Liquidity Status
= Funding and Liquidity Status (Yen) ~3.1T Internal Loan from Auto to J UB0LE Sales Finance ~1.8T Unused Securitization Lines Cash & Cash 2.1T Equivalent Unused Commitment Lines As of Total Unused 1 Liquidity Credit Lines" June 30, 2025 Available Auto Segment (Yen) ~2.1T ~1.9T +o.66T gf 27 be! ~ -0.
Slide 16: Q2 Outlook
= Q2 Outlook
Slide 17: FY25 Volume Outlook (unchanged)
=: FY25 Volume Outlook (unchanged) Retail Sales (Thousand units) Production Volume vs. FY24 3,346 3,250 4 Global -2.9% 3,101 3,000 697 China = -18.2% = China 461 Japan -0.2% North -0.2% Excluding America p> China: Excluding +1.1% China Europe -0.3% 535 Others +6.6% J FY24 FY25 FY24 Actual Outlook Ac
Slide 18: FY25 Outlook
= FY25 Outlook (Billion Yen) FY24 FY25 Variance FY25 Q2 Actual Outlook vs FY24 Outlook (Including Tariff Impact) Net Revenue 12,633.2 12,500.0 -133.2 2,800.0 Operating Profit 69.8 TBD - -100.0 OP Margin 0.6% TBD - -3.6% Net Income’ -670.9 TBD - TBD FX Rate (USD/JPY) 153 145 -8 145 (EUR/JPY) 164 159
Slide 19: Appendix
=: Appendix
Slide 20: Sales Financing
= Sales Financing FY24 Q1 HM FY25 Q1 (Billion Yen) Net Credit Net Revenue Operating Profit Total Assets Penetration Loss Ratio 11,014.2 319.3 315.8 75.0 78.6 ples 0.67% 0.54% mm impact Profits are higher year over year despite negative foreign exchange Assets decreased year over year mainly due to f
Slide 21: Penetration
= Penetration Lease M@ Retail NFS NMAC NCF NRFM DNAF/DNFL 79% 71% 72% 56% 51% 54% 27% 43% 3% 2% FY24 FY25 FY24 FY25 FY24 FY25 FY24 FY25 FY24 FY25 Qi Qi ai Qi Qi Qi Qi Qi Qi Qi NFS: Nissan Financial Services, sales finance company in Japan NRFM: NR Finance Mexico, sales finance company in Mexico NMAC
Slide 22: Net Credit Loss Ratio
: Net Credit Loss Ratio FY24 Q1 FY25 Q1 Variance NFS NMAC NCF DNAF/DNFL Lease _ Retail Total Lease Retail Total Lease Retail Total Lease Retail Total 0.02% 0.06% 0.05% 0.30% 0.76% 0.59% 0.08% 0.10% 0.09% 0.93% 0.63% 0.69% 0.01% 0.06% 0.05% 0.34% 0.80% 0.63% 0.05% 0.19% 0.11% 5.56% | 0.88% 1.87% -0.0
Slide 23: Operating Profit & Asset
= Operating Profit & Asset NFS (Billion JPY) NMAC (Million USD) NCF (Million CAD) NRFM (Million MXN) DNAF/DNFL (Million CNY) Asset OP Asset OP Asset OP Asset OP Asset OP FY24 Q1 1,406.8 9.7 40,604 228 6,848 49 108,803 1,091 42,462 394 FY25 Q1 1,494.1 8.9 40,090 273 8,414 67 129,953 1,405 32,909 220
Slide 24: Financial Performance
: Financial Performance (Billion Yen) FY24 Q1 FY25 Q1 Variance Net Revenue 2,998.4 2,706.9 -291.5 Operating Profit 1.0 -79.1 -80.1 OP Margin 0.0% -2.9% -2.9 points Non-Operating" 64.1 -30.1 Ordinary Profit 65.1 -109.2 -174.4 Extraordinary? 0.2 -18.9 Profit Before Tax 65.3 -128.1 -193.4 Taxes -30.2 1
Slide 25: FY25 First Quarter Sales Performance
: FY25 First Quarter Sales Performance TIV (Million units) vs. FY24 China +13.0% Japan +6.4% North America +3.9% (Us) (+3.8%) Excluding Europe _-2.3% China: (Excl. Russia) (-3.6%) +2,4% Others +4.3% *Nissan estimation for TIV includes China local brands and LCV Retail Volume (Thousand units) -10.1%
Slide 26: FY25 First Quarter Consolidated Sales Volume
: FY25 First Quarter Consolidated Sales Volume Al 96 FY24 Q1 FY25 Q1 Japan North America Europe Asia Others (Thousand units) vs. FY24 -5.3% -6.6% -9.0% -30.8% -4.5% 26
Slide 27: Operating Profit Variance Analysis Forex
= Operating Profit Variance Analysis Forex Currency Rate Rate. tone). USD 155.9 144.6 -21.8 MXN 9.1 74 16.8 CNY 20.6 20.0 3.7 EUR 167.9 163.8 1.6 CAD 113.9 104.4 -9.2 TRY 48 3.7 -5.9 AUD 102.7 92.6 -3.0 ARS 0.2 0.1 27 BRL 29.9 25.5 -2.2 THB 4.2 44 “1.5 Others == = “15.5 Total = = -39.7 27
Slide 28: Operating Profit Variance Analysis Sales Performance
= Operating Profit Variance Analysis Sales Performance (Billion Yen) FY25 Q1 Volume" Mix Incentives” _—‘Total Rad Japan -0.7 +1.4 +0.5 +1.2 = US -32.4 +6.6 +44 -21.8 £ Europe -7.8 +2.6 +5.4 +0.2 3 MEX/CAN -4.3 +1.0 -0.4 -37 i Others “1.9 +30.0 +0.2 +283 Total 47.2 +415 +9.9 +42 3 Inconeina. v Others
Slide 29: FY20 Q4 FY21 Q4 FY22 Q4
FY20 Q4 FY21 Q4 FY22 Q4 FY23 Q4 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY25 Q1 ■ ■
Slide 30: Automotive Free Cash Flow
: Automotive Free Cash Flow FY25Q01 Net Cash Inflow from P&L Items -132.1 AP/AR -154.1 Inventory +28.4 Working Capital -125.7 Tax/Other Operating Activities -68.5 Cash Flow from Operating Activities -326.3 CAPEX® -138.6 Others +74.4 FY25 Automotive Free Cash Flow -390.5 Qi FY24 Automotive Free Cash
Slide 31: Net Cash by Business Segment
= Net Cash by Business Segment As of March 31, 2025 (Billion Yen) As of June 30, 2025 ‘Eliminations Financing == "*!—= “Elimination” Financing Total Borrowings from Third Parties 1,947.6 6,152.2 8,099.9 1,961.6 6,445.6 8,407.2 Internal Loan to Sales Financing (Net) -1,286.3 1,286.3 0.0 -1,025.8 1,02
Slide 32: Auto Net Cash & FCF
= Auto Net Cash & FCF Continuing to maintain healthy levels of net cash FY22 a4 Auto Net Cash FY23 FY23| FY23 FY23 FY24 FY24 FY24 a1 a2 Q3 a4 a1 a2 Q3 FY24 a4 (Billion Yen) FY25 Qi (Billion Yen) Auto Free Cash Flow 263.9 141.2 109.5 84.4 le a -12.1 ___] -58.4 -145.6 || -302.8 -390.5 FY23 FY23 FY23 F
Slide 33: Auto Net Cash Change Analysis
= Auto Net Cash Change Analysis 1,498.4 -326.3 (Billion Yen) +128.4 -102.1 -138.6 a +74,4 Unthsire \ J Y FCF: -390.5 Cashflow from ae Operating CAPEX* Others Dividends Others Ale d Activities * CAPEX does not include finance lease-related investments 33
Slide 34: 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