Slides
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FY2025 Third-Quarter Financial Results February 5, 2026
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1. 3Q YTD/FY2025 Financial Results 2. FY2025 Financial Forecast 3. Business Highlights 2
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3Q YTD/FY2025 Financial Results Summary (vs. 3Q YTD/FY2024) * Net income attributable to owners of the parent 3 (Billion yen, 000 units) 3Q YTD (APR-DEC) Quarterly FY2024 FY2025 Variance 1Q 2Q 3Q Amount Ratio Net Sales 1,989.3 1,976.5 -12.8 -1% 609.1 652.2 715.2 Operating Profit (OP Margin) 104.6 (5.3%) 31.6 (1.6%) -73.0 (-3.7pp) -70% 5.6 (0.9%) 11.7 (1.8%) 14.3 (2.0%) Ordinary Profit 78.5 32.6 -45.9 -58% 4.8 11.0 16.8 Net Income * 33.2 -4.5 -37.7 - 0.7 -9.9 4.7 Sales Volume (Retail) 624 589 -35 -6% 194 190 205
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3Q YTD/FY2025 Operating Profit Variance (vs. 3Q YTD/FY2024) (Billion yen) 3Q YTD/ FY2025 （ APR-DEC 2025 ） R&D Forex Sales Expenses Procurement Cost/Shipping Cost Others Volume/ Mix Price, Etc. U.S. Tariff Payments 3Q YTD/ FY2025 （ APR-DEC 2025 ） 3Q YTD/ FY2024 （ APR-DEC 2024 ） 4Excluding tariff effects 104.6 -12.7 +24.2 -15.4 -0.2 +5.2 -0.7 -36.1 68.9 -37.3 31.6 Environmental regulatory compliance costs -3.9 Quality related cost, etc. +3.2 FX rate(Yen) Effect (bill yen)3Q YTD /FY24 3Q YTD /FY25 USD 153 149 -5.6 EUR 165 172 +1.4 THB 4.32 4.53 -13.7 AUD 100 96 -6.1 PHP 2.65 2.61 -1.9 Others - - -10.2 +11.5 Procurement cost reduction +23.6 Inflation impact, etc. -26.2 Factory expenses -2.3 Shipping cost +4.7 ASEAN +4.6 Australia/NZ -3.4 Latin America, Middle East/ Africa, etc. +1.7 Japan +1.1 North America -0.4 Europe +7.6 China, others +0.3
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3Q/FY2025 Operating Profit Variance (vs. 3Q/FY2024) (Billion yen) 3Q/ FY2025 （ OCT-DEC 2025 ） R&D ForexOthers Volume/ Mix Price, Etc. 3Q/ FY2025 （ OCT-DEC 2025 ） 3Q/ FY2024 （ OCT-DEC 2024 ） U.S. Tariff Payments Sales Expenses Procurement Cost/Shipping Cost FX rate(Yen) Effect (bill yen)3Q/FY24 3Q/FY25 USD 149 154 +2.6 EUR 161 179 +1.4 THB 4.44 4.74 -6.4 AUD 99 100 +0.8 PHP 2.59 2.64 +0.5 Others - - +3.4 5Excluding tariff effects 13.9 +0.3 +10.2 -4.5 +1.0 +2.3 -1.6 +2.3 23.9 -9.6 14.3 FX impact on supplier procurement, etc. -1.6+10.5 Procurement cost reduction +8.8 Inflation impact, etc. -8.0 Factory expenses -1.1 Shipping cost +1.3 ASEAN +2.1 Australia/NZ -1.8 Latin America, Middle East/ Africa, etc. +3.1 Japan -0.5 North America +4.6 Europe +2.7 China, others +0.3
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3Q YTD/FY2025 Retail Sales Volume Results (vs. 3Q YTD/FY2024) 3Q YTD/FY2024 (APR - DEC 2024) 3Q YTD/FY2025 (APR - DEC 2025) Retail sales (000 units) 9 739 34 137 120 84 85 102 107 63 53 190 183 6 GLOBAL -35 (-6%) ASEAN -7 (-4%) Australia/NZ -10 (-16%) Latin America, Middle East/Africa, etc. +5 (+5%) Japan +1 (+1%) North America -17 (-12%) Europe -5 (-13%) China, others -2 (-22%) 589 624
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Regional Status in 3Q/FY2025 ASEAN and Oceania Retail Sales Volume / Market Share According to research 7 ◼ ASEAN: Effects of new model launches are starting to emerge despite the severe competitive environment ◼ Oceania: Australia remains challenging due to competition and model discontinuations, while sales measures are showing results in New Zealand 3Q YTD/FY2024 3Q YTD/FY2025 ASEAN 190k units 183k units Thailand 20k units (4.8%) 19k units (4.1%) Indonesia 54k units (8.2%) 53k units (8.5%) Philippines 68k units (19.3%) 63k units (18.5%) Vietnam 35k units (13.3%) 36k units (14.6%) Others 13k units 12k units Oceania 63k units 53k units 3Q/FY2024 3Q/FY2025 66k units 71k units 7k units (5.2%) 6k units (3.4%) 18k units (8.0%) 21k units (8.6%) 23k units (19.0%) 21k units (18.0%) 13k units (11.6%) 19k units (17.7%) 5k units 4k units
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Regional Status in 3Q/FY2025 Latin America and Middle East/Africa Retail Sales Volume 8 3Q YTD/FY2024 3Q YTD/FY2025 Latin America, Middle East/ Africa, etc. 102k units 107k units Latin America 44k units 50k units Middle East/ Africa, etc. 58k units 57k units ◼ Latin America: Achieved growth driven by new models, despite worsening market conditions and intensifying price competition in some markets ◼ Middle East/Africa, etc.: Sales increased due to further market penetration of core SUV models in major Middle East countries such as the UAE Triton
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Regional Status in 3Q/FY2025 Retail Sales Volume Japan, North America and Europe 9 3Q YTD/FY2024 3Q YTD/FY2025 Japan 84k units 85k units North America 137k units 120k units Europe 39k units 34k units ◼ Japan: Expanded sales volume and continued to improve market share through model refreshes, even in a tough environment ◼ North America: Supply constraints from model discontinuations and tariffs were partially offset by lower tariffs and countermeasures ◼ Europe: Sales declined YoY, primarily due to model discontinuations, but the impact was partially cushioned by new models Outlander PHEV
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1. 3Q YTD/FY2025 Financial Results 2. FY2025 Financial Forecast 3. Business Highlights 10
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FY2025 Financial Forecast (vs. FY2024) * Net income attributable to owners of the parent 11 (Billion yen, 000 units) FY2024 (APR 2024 - MAR 2025) FY2025 Forecast (APR 2025 - MAR 2026) Variance Variance from Previous ForecastAmount Ratio Net Sales 2,788.2 2,900.0 +111.8 +4% +80.0 Operating Profit (OP Margin) 138.8 (5.0%) 70.0 (2.4%) -68.8 (-2.6pp) -50% - Ordinary Profit 98.6 60.0 -38.6 -39% - Net Income * 41.0 10.0 -31.0 -76% - Dividend per share( ¥) ¥15 ¥10 - Retail Sales Volume 842 830 -12 -1% -13 * Net income attributable to owners of the parent
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FY2025 Operating Profit Variance Forecast (vs. FY2024) (Billion yen) FY2025 APR 2025- MAR 2026 FY2024 APR 2024- MAR 2025 R&D ForexOthers Volume/ Mix Price, Etc. FY2025 APR 2025- MAR 2026 （ ） （ ） （ ） U.S. Tariff Payments Sales Expenses Procurement Cost/Shipping Cost 12 138.8 +6.4 +32.5 -25.3 -13.7 +6.4 +7.4 -37.3 115.2 -45.2 70.0 +38.9 Procurement cost reduction +30.2 Inflation impact, etc. -51.0 Factory expenses +6.2 Shipping cost +0.9 Aftersales parts +2.1 Indirect labor cost, G&A etc. +5.3 ASEAN +10.1 Australia/NZ -1.3 Latin America, Middle East/ Africa, etc. +8.0 Japan +3.5 North America +2.2 Europe +15.1 China, others +1.3 FX rate(Yen) Effect (bill yen)FY24 FY25 USD 153 151 -5.1 EUR 163 176 +3.1 THB 4.37 4.67 -26.0 AUD 100 98 -3.7 PHP 2.66 2.63 -2.0 Others - - -3.6 Excluding tariff effects
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FY2025 Retail Sales Volume Forecast (vs. FY2024) FY2024 (APR 2024 - MAR 2025) FY2025(as of Feb) (APR 2025 - MAR 2026) Retail sales (000 units) 13 12 1251 46 186 165 118 127 139 148 86 75 250 257 GLOBAL -12 (-1%) -13 ASEAN +7 (+3%) -1 Australia/NZ -11 (-13%) -5 Latin America, Middle East/Africa, etc. +9 (+6%) +7 Japan +9 (+8%) -1 North America -21 (-11%) -7 Europe -5 (-10%) -5 China, others ±0 ( ±0%) -1 Variance from initial Forecast (as of Nov) 830 842
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1. 3Q YTD/FY2025 Financial Results 2. FY2025 Financial Forecast 3. Business Highlights 14
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15 Indonesia : Cumulative retail sales +40% vs plan Philippines : Cumulative retail sales +38% vs plan Vietnam : Pre-orders over 3x vs plan New Model Launches for ASEAN: ”Destinator” Off to a Strong Start
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16 New “Delica Mini” New “Delica D:5” ◼ Retail Sales volume: Cumulative sales through December +18% vs plan ◼ Grade Mix: “DELIMARU Package” selected by over 60% ◼ Pre-order: Received over 7,000 orders, exceeding the plan ◼ Grade Mix: Top grade selected by 83%, exceeding the plan New Model Launches for Japan: ”Delica Mini” and ”Delica D:5”
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17 Retail Sales(units) Our ASEAN Market Recovery The situation in ASEAN Market 0 5,000 10,000 April May June July August September October November December Thailand Indonesia Philippines Vietnam 0.0% 5.0% 10.0% 15.0% 20.0% FY25Q1 FY25Q2 FY25Q3 Thailand Indonesia Philippines Vietnam Market Share Automotive industry association data, MMC( )
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APPENDIX 19
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3Q/FY2025 Balance Sheet (vs. FY2024) 20 (billion yen) FY2024 (As of MAR 31, 2025) 3Q/FY2025 (As of DEC 31, 2025) Variance Total Assets 2,245.9 2,324.2 +78.3 Cash & Deposits 452.5 334.5 -118.0 Total Liabilities 1,272.3 1,387.3 +115.0 Interest-bearing Debt 314.8 421.4 +106.6 Total Net Assets 973.6 936.9 -36.7 Shareholders’ Equity (Equity Ratio) 934.4 (41.6%) 891.9 (38.4%) -42.5 Net Cash 【 Automobiles & Eliminations 】 394.5 229.2 -165.3
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CAPEX DepreciationR&D Expense Billion yen( ) 3Q YTD/FY2025 Capital Expenditure, R&D Expense and Depreciation 21 ¥57.5bn +1% (YoY) ¥87.4bn -6% (YoY) ¥60.5bn +10% (YoY) Billion yen( ) 56.9 57.5 92.6 87.4 55.0 60.5 0% 1% 2% 3% 4% 5% 6% 0.0 1 2 3 4 5 6 7 83Q YTD/ FY2024 (APR-DEC 2024) 3Q YTD/ FY2025 (APR-DEC 2025) 3Q YTD/ FY2024 (APR-DEC 2024) 3Q YTD/ FY2025 (APR-DEC 2025) 3Q YTD/ FY2024 (APR-DEC 2024) 3Q YTD/ FY2025 (APR-DEC 2025)
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3Q YTD/FY2025 Regional Performance (vs. 3Q YTD/FY2024) 22 (Billion yen) Net Sales Operating Profit 3 Q Y T D /FY2024 (APR–DEC 2024) 3 Q Y T D /FY2025 (APR–DEC 2025) Variance 3 Q Y T D /FY2024 (APR–DEC 2024) 3 Q Y T D /FY2025 (APR–DEC 2025) Variance GLOBAL 1,989.3 1,976.5 -12.8 104.6 31.6 -73.0 ‐ ASEAN 419.2 433.0 +13.8 24.0 15.8 -8.2 ‐ Australia/NZ 235.0 200.9 -34.1 19.1 -6.0 -25.1 ‐ Latin America, Middle East /Africa, etc. 284.7 299.8 +15.1 14.1 9.0 -5.1 ‐ Japan 442.2 450.3 +8.1 -8.6 10.3 +18.9 ‐ North America 529.9 458.1 -71.8 50.2 -3.7 -53.9 ‐ Europe 75.8 129.5 +53.7 5.5 5.7 +0.2 ‐ China, others 2.5 4.9 +2.4 0.3 0.5 +0.2
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FY2025 Regional Sales Forecast (vs. FY2024) 23 (Billion yen) FY2024 (APR 2024 - MAR 2025) FY2025 Forecast (APR 2025 - MAR 2026) Variance GLOBAL 2,788.2 2,900.0 +111.8 ‐ ASEAN 566.4 590.0 +23.6 ‐ Australia/NZ 321.1 300.0 -21.1 ‐ Latin America, Middle East/ Africa, etc. 404.3 450.0 +45.7 ‐ Japan 631.6 650.0 +18.4 ‐ North America 734.2 680.0 -54.2 ‐ Europe 127.1 220.0 +92.9 ‐ China, others 3.5 10.0 +6.5
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CAPEX DepreciationR&D Expense FY2025 Capital Expenditure, R&D Expense and Depreciation Forecast Billion yen( ) 24 100.6 90.0 126.7 120.0 74.0 82.0 0% 1% 2% 3% 4% 5% 6% 0 1 2 3 4 5 6 7 8 ¥900.0bn -11% (YoY) ¥120.0bn -5% (YoY) ¥82.0bn +11% (YoY) （ ） （ ） FY2024 APR 2024- MAR 2025) FY2025 APR 2025- MAR 2026) （ ） （ ） FY2024 APR 2024- MAR 2025) FY2025 APR 2025- MAR 2026) FY2025 APR 2025- MAR 2026) （ ） （ ） FY2024 APR 2024- MAR 2025)
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（￥） FY2025 Shareholder Returns Forecast 期末 中間 5 10 15 5 5 0 2 4 6 8 10 12 14 FY2021 FY2022 FY2023 FY2024 FY2025 25 (Outlook) Dividend per Share: 10 Yen Forecast Interim Year-end Year-end (Outlook)
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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 different from the aforementioned statements due to changes in economic environments related to our business, market trends, fluctuations in interest rates and exchange rate, changes in laws, regulations and government policies, etc. Potential risks and uncertainties are not limited to the above and Mitsubishi Motors is not under any obligation to update the information in this presentation to reflect any developments or events in the future. If you are interested in investing in Mitsubishi Motors, you are requested to make a final investment decision at your own risk, taking the foregoing into consideration. Please note that neither Mitsubishi Motors nor any third party providing information shall be responsible for any damage you may suffer due to investment in Mitsubishi Motors based on the information shown in this presentation. 26