Nissan Motor Co., Ltd. · TSE:7201
Nissan Motor — Q1 2026 Earnings Presentation
33 slides from Nissan Motor's earnings presentation, Aug 3, 2026
Slide 1: FY2026 First Quarter Financial Results
RE:NISSAN FY2026 First Quarter Financial Results 3 AUGUST 2026
Slide 2: Re:Nissan Progress
= Re:Nissan Progress
Slide 3: Building Momentum
= Building Momentum RE:NISSAN Focused actions delivering growth in key global markets Outside China, volumes expected to grow YoY "Built in the U.S. for the U.S." strategy Early signs of recovery emerging after continues to deliver. a challenging period. 1.3% 9.6% = Pathfinder sales up 32%; = Roox s
Slide 4: Global Challenges Having Impact
= Global Challenges Having Impact RE:NISSAN China disruption & Middle East uncertainty weigh on performance & outlook CHINA MIDDLE EAST CY26 H1 performance Demand remains resilient despite supply chain outpaced declining market constraints. = Faster-than-expected deterioration in China = Balancing m
Slide 5: Realizing Cost Impact
= Realizing Cost Impact RE:NISSAN Continuous efforts in manufacturing and R&D contribute efficiencies O 5 . = Engineering cost per hour reduction target of 20% JPY Fixed reduction delivered ahead of schedule Further savings = Disciplined expense control in G&A delivered in Q1 = Efforts across the co
Slide 6: Q1 Financial Results
Q1 Financial Results
Slide 7: Retail Sales Volume
= Retail Sales Volume Retail Sales Production Volume (Thousand units) (Thousand units) -0.9% 5 707 —. 701 vs. FY25 -4.0% 673 —~. 646 vs. FY25 China! +7.2% = 118 China +0.8% Japan +1.3% ) - North Rein +4.2% | Excluding (us) (96%) > China: 528 Others -5.0% -2.5% Europe -14.6% We Others -16.8% _) FY25
Slide 8: FY26 First Quarter Financial Performance
: FY26 First Quarter Financial Performance Operating Profit | FY25 Q1 &@ HM FY26 Qi (Billion Yen) Net Revenue (OP margin) Net Income” CAPEX R&D 779 2,964.2 3.8 © 2,706.9 (2.6%) 1274 4437 140.3 2 7 120.2 P=) | | 07 Lease . 3 34.6 Sa ra) a || 6 79.1 s) (BE) “115.8 Operating Profit Net Revenue P (OP oe
Slide 9: Operating Profit Variance Analysis
= Operating Profit Variance Analysis FY26 Qi Actual vs. Previous Year (Billion Yen) 77.9 +3, (2.6%) +32.2 SHS +816 -140 [gg +23.7 +35.0 -23.5 +18.3 . | rT Y Raw a Sales Monozukuri 5 7 FY26 Forex 4 Tariff Inflation One Time Others Materials Performance Cost ai Warranty SalesFinance -0.8 Volume/Mix +4
Slide 10: FY2026 Outlook
FY2026 Outlook
Slide 11: FY26 Volume Outlook
=: FY26 Volume Outlook Retail Sales (Thousand units) 3,151 3,300 axe 710 399 430 1,291 491 500 FY25 FY26 Previous FY26 Latest Actual Outlook Outlook vs. vs. FY25 Previous Qutlook Global -0.0% -4.5% China’ -11.2% —_-18.3% Japan +7.8% 0.0% North 42.2% 0.0% America Europe +7.3% 0.0% Others -2.2% -4.0%
Slide 12: FY26 Outlook
=: FY26 Outlook May Outlook Reaffirmed (Billion Yen) FY25 FY26 Variance Actual Outlook vs FY25 Net Revenue 12,007.9 13,000.0 +992.1 Operating Profit 58.0 200.0 +142.0 OP Margin 0.5% 1.5% +1.0pts Net Income"! -533.1 20.0 +553.1 FX Rate”2 (uSD/JPY) 151 150 -1 (EUR/JPY) 175 175 2 Dividend per share 0 y
Slide 13: Operating Profit Variance Analysis vs May Outlook
= Operating Profit Variance Analysis vs May 26 Outlook Announcement 200.0 balanced risks & opportunities (1.5%) [ May’26 Raw Middle Announcement Materials East pores One Time/Others (Billion Yen) 200.0 (1.5%) Current visibility 13
Slide 14: Q1 Key Takeaways
=: Q1 Key Takeaways Sales Performance US: Momentum continues, with sales up 9.6% YoY Japan: Sales increase 1%; recovery taking hold led by strong response to new models China: CY26 H1 sales down 15%, outpacing market decline of 22%; CY Q1 sales +7% Middle East: Resilient demand; logistics and supply
Slide 15: Expanding Momentum in Q2 and Beyond
Expanding Momentum in Q2 and Beyond RE:NISSAN Accelerate market-specific strategies in each region, driving sales through highly competitive new models. New Models U.S. — Continue the momentum with the "Built in the U.S. for the U.S." strategy and upcoming product launches. JAPAN Build on recovery a
Slide 16: For Everyday Life
FOR EVERYDAY LIFE EEYUTFOMARLC. BHEMEBABIC
Slide 17: Appendix
Appendix
Slide 18: Liquidity Status
= Liquidity Status nus (Trillion Yen) ~3.6 Internal Loan from Auto to Sales Finance es) Unused Securitization Lines Cash & Cash Equivalent Unused Commitment Lines As of Total Liquidity Unused Credit Mar. 31, 2026 Available Lines securitization lines are relat (Trillion Yen) ~3.4 Internal Loan from A
Slide 19: Sales Financing
= Sales Financing © FY25 Q1 & FY26 Q1 (Billion Yen) Net Credit Net Revenue Operating Profit Total Assets Penetration Loss Ratio 362.6 86.2 10,033.5 10,828.3 315.8 78.6 0.67% 0.66% = Profits are higher year over year mainly due to positive foreign exchange impact = Penetration declined mainly due to
Slide 20: Penetration
= Penetration NFS NMAC 56% FY25 FY26 FY25 FY26 Qi Qi Qi Qi NFS: Nissan Financial Services (Japan) NMAC: Nissan Motor Acceptance Company LLC (US) NCF: Sales financing division of Nissan Canada Inc. (Canada) * NMAC: Penetration is lower due to Mexico-imported vehicles penetration decline, which follow
Slide 21: Net Credit Loss Ratio
= Net Credit Loss Ratio FY25 Q1 FY26 Q1 Variance NFS NMAC NCF DNAF/DNFL Lease Retail Total Lease Retail Total Lease Retail Lease Retail Total 0.01% 0.06% 0.05% 0.34% 0.80% 0.63% 0.05% 0.19% 5.56% 0.88% 1.87% 0.01% 0.06% 0.05% 0.35% 0.97% 0.72% 0.04% 0.18% 1.53% 0.97% 1.13% 0.00pt 0.00pt 0.00pt +0.01
Slide 22: Operating Profit & Asset
= Operating Profit & Asset FY25 Q1 FY26 Q1 Variance NFS NMAC NCF NFSM DNAF/DNFL (Billion JPY) (Million USD) (Million CAD) (Million MXN) (Million CNY) Asset OP Asset OP Asset OP Asset OP Asset OP 1,494.1 8.9 40,090 273 8,414 67 129,953 1,405 32,909 220 1,496.0 8.4 38,268 285 6,784 46 147,836 1,456 33
Slide 23: Financial Performance
: Financial Performance (Billion Yen) FY25 Q1 FY26 Q1 Variance Net Revenue 2,706.9 2,964.2 257.3 Operating Profit -79.1 77.9 157.0 OP Margin -2.9% 2.6% 5.5 points Non-Operating” -30.1 -28.8 Ordinary Profit -109.2 49.1 158.3 Extraordinary? -18.9 8.3 Profit Before Tax -128.1 40.8 168.9 Taxes 14.1 -32.
Slide 24: FY26 Q1 Sales Performance
=: FY26 Q1 Sales Performance TIV*1 (Million units) Retail Sales (Thousand units) -2.1% vs. FY25 -0.9% reyi25) 21.61 —> 91.15 707 vs. FY2o China -21.5% 121 China? +7.2% 5.92 | 87 > _ 0/ 1.06 Japan +6.9% Japan +1.3% North America +0.9% (us) (+0.6%) North 44.2% | Excluding Excluding wie (49.6%) —S Chin
Slide 25: FY26 Q1 Consolidated Sales Volume
: FY26 Q1 Consolidated Sales Volume 91 FY25 Q1 548 FY26 Q1 Japan North America Europe Asia Others (Thousand units) vs. FY25 -6.9% +2.3% -5.9% -22.9% -24.3% 25
Slide 26: Operating Profit Variance Analysis Forex
= Operating Profit Variance Analysis Forex FY25Q1 FY26Q1 OP Impact CULE Rate Rate (Billion Yen) USD 144.6 159.6 474 CAD 104.4 115.2 10.0 AUD 92.6 113.1 6.3 GBP 193.0 214.0 2.6 BRL 25.5 31.6 18 TRY 3.7 3.5 15 THB 44 4.9 -3.7 EUR 163.8 185.4 -6.1 MXN 74 9.2 -8.9 CNY 20.0 23.4 -18.3 Others = = 5.4 Tota
Slide 27: Operating Profit Variance Analysis Sales Performance
: Operating Profit Variance Analysis Sales Performance (Billion Yen) FY26 Q4 Volume Mix Incentives” _—_‘Total x Japan -3.2 “1.7 011 -5.0 5 us +40.3 +279 -22.4 +458 € Europe -5.9 -4.8 +6.3 -4.5 3 MEX/CAN 5.9 +84 5.6 -35 Es Others -44.9 +76 +85 -28.7 Total -19.6 +370 -13.3 +44 3 Inconeina, 7 Others To
Slide 28: Inventory Status (Excluding China JV)
= Inventory Status (Excluding China JV) (Thousand units) Bl Dealer inventory (except some minor countries) Consolidated Nissan inventory (except some minor countries) 00 580 560 580 560 oa ao f=) FY23 Q4 FY24 Q4 FY25 Q1 FY25 Q2 FY25 Q3 FY25 O4 FY26 Q1 28
Slide 29: Automotive Free Cash Flow
: Automotive Free Cash Flow * CAPEX does not include finance lease-related investments (Billion Yen) FY26 Qi Net Cash Inflow from P&L Items +74.8 Working Capital -168.1 AP/AR -45.8 Inventory -122.3 Tax/Other Operating Activities -174.2 Cash Flow from Operating -2675 Activities CAPEX® -75.2 Others +1
Slide 30: Net Cash by Business Segment
: Net Cash by Business Segment (Billion Yen) As of March 31, 2026 As of June 30, 2026 pA Sie Total aaa, Sin Total Borrowings from Third Parties 2,376.7 6,543.4 8,920.1 2,427.8 6,759.5 9,187.4 Internal Loan to Sales Financing (Net) -1,375.0 1,375.0 0.0 -1,272.6 1,272.6 0.0 Cash and Cash Equivalent 2,
Slide 31: Auto Net Cash & FCF
: Auto Net Cash & FCF Auto Net Cash 1,498.4 1,403.8 1,364.1 1,241.0 FY24 FY24 FY24 FY24 Q1End Q2End Q3End O4End Qi End Q2End Q3End Q4End Q1 End 1,134.3 FY25 990.9 957.8 FY25 FY25 (Billion Yen) 1,170.4 969.2 FY25 FY26 Auto Free Cash Flow Billion Yen) 263.9 210.6 -58.4 = = -98.6 145.6 = || -202.3 -302
Slide 32: Auto Net Cash Change Analysis
: Auto Net Cash Change Analysis (Billion Yen) 1,170.4 -267.5 -19.9 969.2 +142.6 oe +18.8 l J Y FCF: -323.9 Cashflow from Dividends FY25 . * FY26 March End Operating CAPEX Others from Sales Others June End Activities Finance * CAPEX does not include finance lease-related investments 32
Slide 33: Forward-looking statements disclaimer
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