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Toyota Motor Corporation August 4, 2026 Land Cruiser "FJ" FY2027 First Quarter Financial Results
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2 Cautionary Statement with Respect to Forward-Looking Statements and Caution Concerning Insider Trading This presentation contains forward-looking statements that reflect the plans and expectations of Toyota Motor Corporation and its consolidated subsidiaries (“Toyota”). These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors thatmay cause Toyota’s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. These factors include, but are not limited to: (i) changes in economic conditions, market demand, and the competitive environment affecting the automotive markets in Japan, North America, Europe, Asia and other markets in which Toyota operates; (ii) fluctuations in currency exchange rates (particularly with respect to the value of the Japanese yen, the U.S. dollar, the euro, the Australian dollar, the Canadian dollar and the British pound), stock prices and interest rates; (iii) changes in funding environment in financial markets and increased competition in the financial services industry; (iv) Toyota’s ability to market and distribute effectively; (v) Toyota’s ability to realize production efficiencies and to implement capital expenditures at the levels and times planned by management;(vi) changes in the laws and regulations, as well as other government actions, in the markets in which Toyota operates that affectToyota’s operations, particularly laws, regulations and government actions relating to vehicle safety including remedial measures such as recalls, environmental protection, vehicle emissions and vehicle fuel economy, and tariffs and other trade policies, as well as current and future litigation and other legal proceedings, government proceedings and investigations; (vii) political and economic instability in the markets in which Toyota operates; (viii) Toyota’s ability to timely develop and achieve market acceptance of new products that meet customer demand; (ix) any damage to Toyota’s brand image; (x) Toyota’s reliance on various suppliers for the provision of supplies; (xi) increases in prices of raw materials; (xii) Toyota’s reliance on various digital and information technologies, as well as information security; (xiii) fuel shortages or interruptions in electricity, transportation systems, labor strikes, work stoppages or other interruptions to, or difficulties in, the employment of labor in the major markets where Toyota purchases materials, components and supplies for the production of its products or where its products are produced, distributed or sold; (xiv) the impact of natural calamities, epidemics, political and economic instability, fuel shortages or interruptions in social infrastructure, wars, terrorism and labor strikes, including their negative effect on Toyota’s vehicle production and sales; (xv) the impact of climate change and the transition towards a low-carbon economy; and (xvi) the ability of Toyota to hire or retain sufficient human resources. A discussion of these and other factors which may affect Toyota’s actual results, performance, achievements or financial position is contained in Toyota Motor Corporation’s annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission. Caution concerning Insider Trading Under Japanese securities laws and regulations (the "Regulations"), subject to certain exceptions, any person who receives certain material information relating to the business, etc. of Toyota which may be contained in this document is prohibited from trading in Toyota's shares or certain other transactions related to such shares (as set forth in the Regulations) until such material information is deemed to be made public. Under the Regulations, material information is deemed to be made public when (i) such material information is notified to a stock exchange and is disclosed by ways of electromagnetic means as prescribed by the ordinance of the Cabinet Office (posting on the TDnet (Timely Disclosure Network) information service) or (ii) twelve (12) hours have elapsed since a listed company, such as Toyota, disclosed such material information to at least two (2) media sources asprescribed by the Regulations.
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3 • Despite significant changes in the business environment, secured results on par with the previous fiscal year through continuous improvement efforts; revised full-year forecast upward • Continuing to enhance corporate value through strengthened competitiveness, business structure reform, and improved capital efficiency Actual (3 months) FY2027 Forecast Return to Shareholders - Despite the impact of the Middle East situation, maintained results at the same level as the previous fiscal year , supported by foreign exchange effects, cost reductions, expanded value chain profits, and increased sales of highly competitive HEVs - Revised forecast upward , reflecting changes in the external environment such as foreign exchange assumptions, as well as marketing efforts including the establishment of alternative logistics routes to the Middle East *The impact of the 2026 Kumamoto Earthquake is currently under assessment and has not been reflected in the forecast FY2027 First Quarter Results Summary Share repurchase authorization : 1 trillion yen (maximum) Treasury stock cancellation : 200 million shares - Taking into account factors such as our valuation in the stock market and the current share price levels , established a share repurchase authorization to conduct open market purchases in a flexible manner . Treasury shares will also be cancelled - Leveraging our strong cash generation capabilities and financial foundation, balance growth investments with shareholder returns, as well as promote enhancement of our earning power and improvement of capital efficiency Operating income : 3.4 trillion yen (+0.4 trillion yen from the previous forecast ) Operating income : 1.1 trillion yen (-0.1 trillion yen YoY)
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4 FY2027 First Quarter Financial Performance
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5 Consolidated Vehicle Sales Reference (retail) 2025.4 -6 YoY2026.4-6 417 332 421 439 298 307 794 792 481 524 0 500 1,000 1,500 2,000 2,500 79.6% 104.3% 103.0% 99.8% 108.9% 99.3%2,411 (thousands of vehicles) Japan N. America Europe Asia Other Central and South America, Oceania, Africa, Middle East, etc. Toyota and Lexus Vehicle Sales 2,643 2,552 96.5% Electrified Vehicle [%] 1,254 1,410 112.4% HEV 1,160 1,238 106.7% PHEV 47 58 124.5% BEV 47 114 241.1% FCEV 0 0 92.3% Total Retail Vehicle Sales 2,829 2,714 95.9% [47.4%] [55.3%] 2,395 * 2025.4-6 actual results include Hino-brand vehicles (consolidated vehicle sales: 26 thousand vehicles; total retail vehicle sales: 26 thousand vehicles). * *
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6 Consolidated Financial Summary (billions of yen) 2025.4-6 2026.4-6 Change Sales Revenues 12,253.3 13,525.4 +1,272.0 Operating Income 1,166.1 1,063.4 -102.6 Margin 9.5% 7.9% Other Income 86.0 900.3 +814.3 Share of Profit (Loss) of Investments Accounted for Using the Equity Method 141.0 210.6 +69.6 Income before Income Taxes 1,252.1 1,963.8 +711.7 Net Income Attributable to Toyota Motor Corporation 841.3 1,477.0 +635.6 Margin 6.9% 10.9% FOREX Rates US$ 145 yen 160 yen +15 yen € 164 yen 185 yen +21 yen * * Regarding Japan: 174.9 (+78.2 year on year), China: 16.0 (-7.3 year on year), Other: 19.7 (-1.3 year on year)
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7 Analysis of Consolidated Operating Income *1 Details *2 Details *3 Details *4 Details Transactional (Imports/Exports) +335.0 Volume, Model Mix -60.0 Labor Cost -55.0 Valuation Gains / Losses from Swaps, etc. +11.6 - US $ +200.0 Value Chain +30.0 Depreciation Expenses -40.0 Unrealized Profit Adjustment -248.3 - € +60.0 - Financial Services +5.0 R&D Expenses -35.0 Other -5.9 - Other +75.0 - Accessories / Spare Parts / Expenses, etc. -60.0 Translational FOREX Impact Concerning Used Vehicle / Connected, etc. Overseas Subsidiaries, etc. Other +100.0 +25.0 +10.0 1,166.1 1,063.4 +345.0 -85.0 +70.0 -190.0 -242.6 -205.0 Excluding the overall impact of foreign exchange rates and swap valuation gains/losses, etc.： (-102.6)Operating Income Which includes: Materials Prices/ Strengthening Foundation of Suppliers (Which includes Middle East Impact -25.0) Cost Reduction -140.0 +55.0 Which includes: Middle East Impact -50.0 145 yen/US$ 164 yen/ € 2025.4-6 2026.4 -6 (billions of yen) 160 yen/US$ 185 yen/ € Cost Reduction Efforts Other *4 Effects of FOREX Rates *1 Marketing Efforts *2 Increase or Decrease in Expenses and Expense Reduction Efforts *3 Which includes fixed cost increase, impact of development project review, etc.
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8 Geographic Operating Income 643.4 -63.6 97.4 220.7 98.4 538.6 125.3 113.2 209.5 101.0 [12.3 %] Operating Income including Valuation Gains/Losses relating to Swaps, etc. (billions of yen) 2025.4 -6 2026.4 -6 2025.4 -6 2026.4 -6 2025.4 -6 2026.4 -6 2025.4 -6 2026.4 -6 2025.4 -6 2026.4 -6 645.0 540.1 -21.1 185.4 96.9 107.2 215.7 208.3 94.0 92.5 [8.7%] [-1.2%] [6.2%] +188.9 -104.7 +15.8 -11.2 +2.5 [10.3%] [9.2%] [2.1%] [9.0%] [7.9%][6.0%] 481 524 794 792 298 307 421 439 417 332 [ ] Margin Japan N. America Europe Asia Other (108 .9%) (99.8%) (103.0%) (104.3%) Operating Income (billions of yen) (excluding Valuation Gains/Losses relating to Swaps, etc.) Consolidated Vehicle Sales (thousands of vehicles) Incl. China (excl. investments accounted for using the equity method of associates and joint ventures) (79.6%)
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9 China Business / Financial Services 23.3 16.0 55.0 41.5 (Ref.) China Business Operating Income of Consolidated Subsidiaries (billions of yen) Share of Profit of Investments Accounted for Using the Equity Method of Associates and Joint Ventures (billions of yen) Toyota and Lexus Vehicle Retail Sales (thousands of vehicles) Financial Services Operating Income (billions of yen) Excluding Valuation Gains/Losses relating to Swaps, etc. ＊ 450 324 2025.4-6 2026.4-6 -13.5 Effects of Marketing Activities, etc. 188.0 229.7 +41.7 Effects of Increase in Loan Balance, etc. 2025.4-6 2026.4-6 222.2 275.6 -7.3 Effects of Marketing Activities, etc. (72.0%) Operating Income including Valuation Gains/Losses relating to Swaps, etc. (billions of yen)
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10 FY2027 Financial Forecasts
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11 FY2027 Forecast: Consolidated Vehicle Sales 1,637 1,759 1,183 2,934 2,082 1,530 1,610 1,820 1,780 1,190 1,220 2,990 3,020 2,070 2,070 0 2,000 4,000 6,000 8,000 10,000 9,600 Previous Forecast 2026.4-2027.3 New Forecast 2026. 4-2027.3 9,700 101.0% 100.0% 97.8% 105.2% 101.0% 102.5% vs. Previous Forecast (thousands of vehicles) Japan N. America Europe Asia Other Central and South America, Oceania, Africa, Middle East, etc. Reference (retail) Toyota and Lexus Vehicle Sales 10,500 10,500 100.0% 10,477 Electrified Vehicles [%] 5,956 5,905 99.1% 5,040 HEV 5,071 5,088 100.3% 4,620 PHEV 286 284 99.0% 175 BEV 598 533 89.1% 243 FCEV 1 1 90.9% 1 Total Retail Vehicle Sales 11,180 11,180 100.0% 11,283 [56.7%] [56.2%] 9,595 FY2026 Results 2025.4-2026.3 [48.1%] *2 FY2026 actual results include Hino-brand vehicles (consolidated vehicle sales: 104 thousand vehicles; total retail vehicle sales: 109 thousand vehicles). *1 FY2027 forecast does not include Hino-brand vehicles (consolidated vehicle sales, however, include certain Hino-brand vehicles manufactured by Toyota's consolidated subsidiaries). *1 *1 *1 *1 *2 *2
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12 FY2027 Forecast: Consolidated Financial Summary (billions of yen) Previous Forecast 2026.4-2027.3 New Forecast 2026.4-2027.3 Change Sales Revenues 51,000.0 54,000.0 +3,000.0 Operating Income 3,000.0 3,400.0 +400.0 Margin 5.9% 6.3% Other Income 1,230.0 1,170.0 -60.0 Share of Profit (Loss) of Investments Accounted for Using the Equity Method 590.0 580.0 -10.0 Income before Income Taxes 4,230.0 4,570.0 +340.0 Net Income Attributable to Toyota Motor Corporation 3,000.0 3,250.0 +250.0 Margin 5.9% 6.0% Dividend per share 100 yen 100 yen ±0 yen FOREX Rates US$ 150 yen 160 yen +10 yen € 180 yen 181 yen +1 yen FY2026 Results 2025.4-2026.3 50,684.9 3,766.2 7.4% 1,386.7 552.7 5,152.9 3,848.0 7.6% 95 yen 151 yen 175 yen
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13 Analysis of FY2027 Forecast: Consolidated Operating Income (vs. Previous Forecast) 3,000.0 Cost Reduction Efforts Increase or Decrease in Expenses and Expense Reduction Efforts *3 Other *4 -120.0 -140.0+480.0 Operating Income (+400.0) Effects of FOREX Rates *1 Marketing Efforts *2 150 yen/US$ 180 yen/€ 160 yen/US$ 181 yen/€ +230.0 Excluding the overall impact of foreign exchange rates and swap valuation gains/losses, etc.： +60.0 -50.0 3,400.0 FY2027 Previous Forecast 2026.4-2027.3 FY2027 New Forecast 2026.4-2027.3 (billions of yen) Which includes: Materials Prices/ Strengthening Foundation of Suppliers-135.0 (Which includes Middle East impact +55.0) Cost Reduction+15.0 Which includes: Middle East impact +105.0 *1 Details *2 Details *3 Details *4 Details Transactional (Imports/Exports) +515.0 Volume, Model Mix +145.0 Labor Cost ±0.0 Valuation Gains / Losses from Swaps, etc. +40.0 - US $ +420.0 Value Chain +35.0 Depreciation Expenses ±0.0 Unrealized profit adjustment -165.0 - € +15.0 - Financial Services ±0.0 R&D Expenses +10.0 Other -15.0 - Other +80.0 - Accessories / Spare Parts / Expenses, etc. -60.0 Translational FOREX Impact Concerning Used Vehicle / Connected, etc. Overseas Subsidiaries, etc. Other +50.0 +35.0 -35.0 Which includes fixed cost increase, impact of development project review, etc.
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14 Business Structure Reform: Enhancing Earning Power (1) Enhancement of HEV production capacity Steadily Expand HEV Supply Capacity to Meet Customer Demand Expanding HEV Battery Production Increasing HEV Sales Volume Toward 2030 3.44 4.22 4.58 5.03 CY2030 millions of vehicles; Toyota and Lexus Vehicle Sales Improving Performance Improving performance of HEV batteries through advancements Next-generation HEV Batteries Enhancing Cost Competitiveness Reducing costs through upgrading battery advancements Transitioning approximately 600,000 vehicles’ worth of capacity to next - generation batteries in 2027 - 2028 Forecast*Toyota and Lexus Vehicle Sales Current HEV Batteries Strengthening Competitiveness Through Advancements in HEV Batteries Forecast 0% 25% 50% 75% 2023.3 2024.3 2025.3 2026.3 2027.3 Europe Japan China N. America Asia & Middle East (ex. China) CY2023 CY2024 CY2025 CY2026 Rising HEV Mix Across All Regions Expansion of lithium- ion battery production capacity Forecast CY2026 CY2030 Forecast
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15 Business Structure Reform: Enhancing Earning Power (2) Reorganization of production models Optimizing Production and Product Portfolio Based on Customer Needs Texas Plant Tacoma Production (150,000 Units / year) India Meeting local demand through a local production and sales Production is scheduled to begin in 2030 Construction of a Fourth Plant (100,000 Units / year) Supporting growth market demand, Capacity increase of 200,000 units including 100,000 per year from the third plant scheduled to start operations in 2026 Leveraging Global Production Footprint Supplying the Land Cruiser "FJ" as well as Noah and Voxy from overseas production sites to Japan Delivering as many vehicles as possible to customers as quickly as possible Production is scheduled to begin in 2029 Announcement on July 7, 2026 Strengthening Production Capacity Strengthening Supply Capability Enhancing Collaboration Across Production Sites Announcement on May 11, 2026
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16 Shareholder Return
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17 Share Repurchases ◼ Share repurchase authorization ：1 trillion yen (maximum) Method of repurchase：Open market purchases ◼ Share of treasury stock cancellation : 200 million shares (1.37% of total number of issued shares) ◼ Taking into account factors such as our valuation in the stock market and the current share price levels, established a share repurchase authorization to conduct share repurchases in a flexible manner ◼ Leveraging our strong cash generation capabilities and financial foundation, balance growth investments with shareholder returns, as well as promote enhancement of our earning power and improvement of capital efficiency 299.9 1,099.9*1 199.9 3,656.8 *2 1,000.0 0 200 400 600 800 1,000 1,200 1,400 1,600 （billions of yen ） *1 Amount includes share repurchases conducted in response to requests from shareholders to sell their holdings. *2 Amount acquired through the tender offer conducted as part of the privatization of T oyota Industries Corporation 3,400 3,600 2026.32023.3 2024.3 2025.3 2027.3 Share Repurchase History Net Assets Trend 28.3 34.2 35.9 39.9 0 10 20 30 40 2023.3 2024.3 2025.3 2026.3 2027.3 Forecast （trillions of yen ）
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18 (Ref.) Analysis of FY2027 Forecast: Consolidated Operating Income (vs. FY2026 Results) 3,766.2 Cost Reduction Efforts Other *4 -1,105.0 -296.2 +715.0 Operating Income ( -366.2) Effects of FOREX Rates *1 151 yen/US$ 175 yen/€ 160 yen/US$ 181 yen/€ +560.0 Excluding the overall impact of foreign exchange rates and swap valuation gains/losses, etc.： -785.0 -240.0 3,400.0 FY2026 Results 2025.4 -2026.3 FY2027 New Forecast 2026.4 -2027.3 (billions of yen) Which includes: Materials Prices/ Strengthening Foundation of Suppliers-1,325.0 (Which includes Middle East impact -345.0) Cost Reduction+220.0 Marketing Efforts *2 Increase or Decrease in Expenses and Expense Reduction Efforts *3 Which includes; Middle East impact -165.0 *1 Details *2 Details *3 Details *4 Details Transactional (Imports/Exports) +585.0 Volume, Model Mix -60.0 Labor Cost -235.0 Valuation Gains / Losses from Swaps, etc. -95.0 - US $ +390.0 Value Chain +125.0 Depreciation Expenses -180.0 Unrealized profit adjustment -165.0 - € +75.0 - Financial Services +65.0 R&D Expenses -70.0 Other -36.2 - Other +120.0 - Accessories / Spare Parts / Expenses, etc. +245.0 Translational FOREX Impact Concerning Used Vehicle / Connected, etc. Overseas Subsidiaries, etc. Other +495.0 +60.0 +130.0 Which includes fixed cost increase, impact of development project review, etc.
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19 Depreciation Expenses *7Ratio to Sales Revenues (%) 60 75 90 95 100 (Ref.) Transition of Financial Performance 2,390.6 2,010.8 2,134.8 2,300.0 1,605.8 2023.3 2024.3 2025.3 2026.3 2027.3 1,650.0 1,248.4 1,360.5 1,418.9 1,185.0 8,822 9,443 9,362 9,595 9,700 2023.3 2024.3 2025.3 2026.3 2027.3 816.9 1,011.7 1,178.4 1,238.2 2023.3 2024.3 2025.3 2026.3 2027.3 14,465.0 12,651.6 15,288.3 12,434.7 2023.3 2024.3 2025.3 2026.3 2026.6 16,702.4 37.2 45.0 48.0 50.6 54.0 2023.3 2024.3 2025.3 2026.3 2027.3 3.3 2.7 2.8 3.0 3.0 7.3 11.9 10.0 7.4 6.3 6.6 11.0 9.9 7.6 6.0 4,765.0 3,848.0 3,250.0 2,451.3 4,944.9 2023.3 2024.3 2025.3 2026.3 2027.3 3,766.2 3,400.0 2,725.0 5,352.9 4,795.5 2023.3 2024.3 2025.3 2026.3 2027.3 1,202.3 1,326.4 1,522.8 1,600.0 1,241.6 2023.3 2024.3 2025.3 2026.3 2027.3 (thousands of vehicles) Consolidated Vehicle Sales *1 (trillions of yen) Sales Revenues (billions of yen) Operating Income Net Income Attributable to Toyota Motor CorporationOperating Margin (%) (billions of yen)Net Margin (%) Dividend per Share (yen) Total Liquid Assets *2 Total Shareholder Return (billions of yen) (billions of yen) (billions of yen) R&D Expenses*6 Capital Expenditures (billions of yen) Share Repurchase *4*5 Dividend Interest- Bearing Debt*3 Net Liquid Assets *2 Cash and cash equivalents, time deposits, public and corporate bonds and its investment in monetary trust funds, excluding in each case those relating to financial services. *6 Figures for R&D expenses are R&D activity related expenditures incurred during the reporting period and do not conform to research and development costs on Toyota's Consolidated Statement of Income. 9,027.7 Forecast 1,116.9 2,111.7 1,378.4 4,895.1 *3 Not including lease liabilities 11,313.7 15,079.5 *1 FY2026 actual results include Hino-brand vehicles (104 thousand vehicles), while the FY2027 forecast does not include Hino-brand vehicles (consolidated vehicle sales, however, include certain Hino-brand vehicles manufactured by Toyota's consolidated subsidiaries). 17,418.0 (Forecast ) *4 Excluding shares constituting less than one unit that were purchased upon request and the commission fees incurred for the repurchase. *7 Figures for depreciation expenses and capital expenditures do not include vehicles in operating lease or right of use assets. *5 States the maximum value of shares resolved to be repurchased if before the completion of the repurchase period, or the actual purchase price of shares repurchased pursuant to that resolution if after the completion of the repurchase period. 14,727.6
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20 (Ref.) FY2027 Forecast: Vehicle Production and Retail Sales 生産Vehicle Production Japan 3,350 3,450 +100 Overseas 6,650 6,550 -100 Total 10,000 10,000 ±0 Previous Forecast 2026.4 -2027.3 New Forecast 2026.4 -2027.3 Change 11,180 11,180 ±0 Toyota & Lexus Total Retail Vehicle Sales (thousands of vehicles) Retail Vehicle Sales Japan 1,500 1,500 ±0 Overseas 9,000 9,000 ±0 Total 10,500 10,500 ±0 3,242 6,651 9,893 FY2026 Results 2025.4 -2026.3 11,283 1,475 9,003 10,477 *1 *1 *1 *3 *1 Including vehicles by Toyota’s unconsolidated entities *3 FY2026 actual results include Hino-brand vehicles (109 thousand vehicles). *2 FY2027 forecast does not include Hino-brand vehicles *2*2
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21 (Ref.) Definitions of Consolidated and Retail Vehicle Sales Daihatsu- brand vehicles Number of vehicles produced for wholesale by Toyota Motor Corporation and its consolidated subsidiaries Number of vehicles produced for wholesale by Toyota’s unconsolidated entities (e.g. joint ventures in China, etc.) * There are a limited number of exceptional cases where sales are made other than in accordance with the flowchart above. Consolidated Vehicle Sales Distributors or Dealers outside consolidation Customers * Toyota- and Lexus- brand vehicles Toyota and Lexus Vehicle Sales Total Retail Vehicle Sales