Slides
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FY2026 First-Quarter Financial Results August 3, 2026
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1. Financial Results Summary 2. FY2026 First-Quarter Financial Results 4. Business Highlights 3. FY2026 Financial Forecast 2
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3 Financial Results Summary：1Q/FY2026 Results and FY2026 Forecast FY2026 Q1 Results FY2026 Forecast ➢ Despite the continued headwinds, including the situation in the Middle East, we achieved increases in both net sales and profit and progressed in line with the plan by responding flexibly to changes in demand and managing operations to appropriately capture the recovery in demand. Operating profit increased by ￥4.5 billion YoY ➢ Impact of the situation in the Middle East: approximately ▲15k units, within the initial assumption. Shipments to the Middle East resumed in June after alternative transportation routes were secured ➢ Net sales: ￥619.9 billion / Operating profit: ￥10.1 billion / Net income: ￥1.4 billion ➢ Maintain the initial outlook based on the first-quarter results, although the outlook remains uncertain ➢ Steadily capture demand without missing sales opportunities by responding flexibly to changes in the business environment ➢ Expand destination markets for models launched in the second half of FY2025, while successfully launching the all-new "Pajero" to achieve further sales growth ➢ Further strengthen our business foundation through continuous cost management and profitability improvement initiatives
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4 0 2 4 6 Feb Mar Apr May Jun Middle East 0 2 4 6 8 Feb Mar Apr May Jun 0 1 2 3 4 Feb Mar Apr May Jun Thailand Australia 0 2 4 6 8 Feb Mar Apr May Jun Philippines Impact of the Situation in the Middle East 2025 2026*Graph Data: Retail Sales Volume (000 units) Q1 Q2 onward Sales Sales volume impact: ▲15k units Negative impact of ￥10.0 billion on operating profit Within the initial assumption Impact expected to be limited from Q2 onward Cost • Higher shipping costs due to the use of alternative transportation methods • Higher raw material prices Negative impact of ￥2.0 billion on operating profit The impact of higher shipping costs and persistently high raw material prices is expected to continue throughout FY2026
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1. Financial Results Summary 2. FY2026 First-Quarter Financial Results 4. Business Highlights 3. FY2026 Financial Forecast 5
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1Q/FY2026 Financial Results Summary (vs. 1Q/FY2025) * Net income attributable to owners of the parent 6 (Billion yen, 000 units) 1Q/FY2025 (APR -JUN 2025) 1Q/FY2026 (APR -JUN 2026) Variance Amount Ratio Net Sales 609.1 619.9 +10.8 +2% Operating Profit (OP Margin) 5.6 (0.9%) 10.1 (1.6%) +4.5 (+0.7pp) +80% Ordinary Profit 4.8 9.7 +4.9 +102% Net Income * 0.7 1.4 +0.7 +100% Retail Sales Volume 194 179 -15 -8%
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1Q/FY2026 Operating Profit Variance (vs. 1Q/FY2025) 1Q/ FY2025 （ APR-JUN 2025 ） 1Q/ FY2026 （ APR-JUN 2026 ） R&D Forex Volume/ Mix Sales Expenses Procurement Cost/Shipping Cost Price, Etc. Others (Billion yen) 7 5.6 -10.3 +5.0 -6.5 -10.0 +2.2 +12.8 +11.3 10.1 FX rate(Yen) Effect (bill yen)1Q/FY25 1Q/FY26 USD 145 160 +7.3 EUR 163 185 -0.3 THB 4.35 4.89 -8.0 AUD 92 112 +5.2 PHP 2.60 2.62 +0.3 Others - - +6.8 -5.3 (-10.0) ASEAN -5.2 Australia/NZ -2.8 Latin America, Middle East/ Africa, etc. -1.4 Japan -0.7 North America +7.0 Europe -2.3 Others +0.1 Incentives -6.4 Advertising expenses -0.1 Environmental regulatory compliance costs +1.9 U.S. tariff payments +7.3 Quality related cost, etc. +3.6 Procurement cost reduction +9.0 Inflation impact, etc. -17.4 Factory expenses -0.8 Shipping cost -0.8 (Middle East effects) (Middle East effects) (-2.0)
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1Q/FY2026 Retail Sales Volume Results (vs. 1Q/FY2025) 1Q/FY2025 (APR - JUN 2025) 1Q/FY2026 (APR - JUN 2026) Retail sales (000 units) 3 415 9 42 41 18 13 34 33 28 29 54 50 8 179 194 GLOBAL -15 (-8%) -15 ASEAN -4 (-7%) -12 Japan +1 (+4%) Latin America, Middle East/Africa, etc. -1 (-3%) -1 Australia/NZ -5 (-28%) -2 North America -1 (-2%) Europe -6 (-40%) Others +1 (+33%) Middle East effects
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Regional Status in 1Q/FY2026 Retail Sales Volume Japan 9 1Q/FY2025 1Q/FY2026 Japan 28k units 29k units Non-Mini 11k units 14k units Mini 17k units 15k units Delica D:5 ◼ Non-Mini : Sales exceeded the previous year, driven by continued sales momentum for the new "Delica D:5" and other models ◼ Mini : Sales volume decreased due to a reaction to a temporary increase in the previous year, while orders remained solid Strengthen our brand and sales foundation through the expansion of the dealership network, renovation of existing dealerships and other initiatives
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Regional Status in 1Q/FY2026 Retail Sales Volume / Market Share According to our research ASEAN and Oceania 10 1Q/FY2025 1Q/FY2026 Middle East effects ASEAN 54k units 50k units -12k units Thailand 7k units (4.4%) 5k units (3.1%) -2k units Indonesia 15k units (8.5%) 16k units (7.1%) -3k units Philippines 21k units (18.3%) 16k units (16.2%) -7k units Vietnam 8k units (11.4%) 10k units (14.4%) Others 3k units 3k units Oceania 18k units 13k units -2k units Destinator ◼ ASEAN : Relatively solid performance supported by our distinctive product lineup and sales initiatives despite the impact of the situation in the Middle East ◼ Oceania: Sales decreased due to the impact of discontinued models Pursue sales growth by enhancing product competitiveness and value-based sales
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Regional Status in 1Q/FY2026 Retail Sales Volume Latin America and Middle East/Africa 11 1Q/FY2025 1Q/FY2026 Middle East effects Latin America, Middle East/ Africa, etc. 34k units 33k units -1k units Latin America 17k units 17k units Middle East/ Africa, etc. 17k units 16k units -1k units Triton ◼ Latin America : Maintained sales at the previous-year level through strengthened value-based sales of core models and the contribution of the all-new "Destinator“ ◼ Middle East/Africa, etc.: Minimized the impact despite lower demand due to the deterioration of the situation in the Middle East Enhance brand presence and drive sales growth by focusing on our SUV and off-road products
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Regional Status in 1Q/FY2026 Retail Sales Volume North America and Europe 12 1Q/FY2025 1Q/FY2026 North America 42k units 41k units Europe 15k units 9k units ◼ North America: Maintained sales at the previous-year level through various initiatives, despite the discontinuation of the "Mirage“ ◼ Europe: Sales of continuing models increased, but overall sales decreased due to the impact of discontinued models Build resilient business operations through strategic flexibility and agility amid heightened uncertainty Outlander
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1. Financial Results Summary 2. FY2026 First-Quarter Financial Results 4. Business Highlights 3. FY2026 Financial Forecast 13
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FY2026 Financial Forecast (vs. FY2025) 14* Net income attributable to owners of the parent (Billion yen, 000 units) FY2025 (APR 2025 - MAR 2026) FY2026 Forecast (APR 2026 - MAR 2027) Variance Amount Ratio Net Sales 2,896.5 3,260.0 +363.5 +13% Operating Profit (OP Margin) 75.5 (2.6%) 90.0 (2.8%) +14.5 (+0.2pp) +19% Ordinary Profit 78.9 80.0 +1.1 +1% Net Income * 10.0 25.0 +15.0 +150% Dividend per Share( ¥) ¥10 ¥10 Retail Sales Volume 797 857 +60 +8%
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1. Financial Results Summary 2. FY2026 First-Quarter Financial Results 4. Business Highlights 3. FY2026 Financial Forecast 15
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16 DESTINATOR XFORCE DELICA D:5 and DELICA MINI Expansion of New Model Sales Expand markets as planned and aim for further growth through full -scale sales ➢ Continued expansion of markets and sales volume despite the impact of the deterioration of the situation in the Middle East ➢ Top-tier segment market share and solid sales performance in all markets where the model has been launched ➢ HEV model launched in Indonesia on July 16, followed by a phased rollout to other markets ➢ “DELICA D:5” Retail sales volume rose to 1.5 times the level of 1Q/FY2025 ➢ “DELICA MINI” Maintained product freshness through ongoing marketing initiatives
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APPENDIX 18
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1Q/FY2026 Balance Sheet (vs. FY2025) 19 (Billion yen) FY2025 (As of MAR 31, 2026) 1Q/FY2026 (As of JUN 30, 2026) Variance Total Assets 2,418.1 2,313.5 -104.6 Cash & Deposits 438.9 307.0 -131.9 Total Liabilities 1,454.8 1,351.9 -102.9 Interest-bearing Debt 395.4 413.6 +18.2 Total Net Assets 963.3 961.6 -1.7 Shareholders’ Equity (Equity Ratio) 919.5 (38.0%) 916.3 (39.6%) -3.2 Net Cash 【 Automobiles & Eliminations 】 406.2 269.7 -136.5
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CAPEX DepreciationR&D Expense Billion yen( ) 1Q/FY2026 Capital Expenditure, R&D Expense and Depreciation 20 ¥9.9bn -18% (YoY) ¥27.9bn -7% (YoY) ¥21.9bn +16% (YoY) 12.1 9.9 30.1 27.9 18.9 21.9 0% 1% 2% 3% 4% 5% 6% 0 1 2 3 4 5 6 7 81Q/FY2025 (APR-JUN 2025) 1Q/FY2026 (APR-JUN 2026) 1Q/FY2025 (APR-JUN 2025) 1Q/FY2026 (APR-JUN 2026) 1Q/FY2025 (APR-JUN 2025) 1Q/FY2026 (APR-JUN 2026)
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1Q/FY2026 Regional Performance (vs. 1Q/FY2025) 21 (Billion yen) Net Sales Operating Profit 1Q/FY2025 (APR–JUN 2025) 1Q/FY2026 (APR–JUN 2026) Variance 1Q/FY2025 (APR–JUN 2025) 1Q/FY2026 (APR–JUN 2026) Variance GLOBAL 609.1 619.9 +10.8 5.6 10.1 +4.5 ‐ ASEAN 127.0 107.7 -19.3 5.5 2.3 -3.2 ‐ Australia /NZ 61.2 62.7 +1.5 -3.1 -0.6 +2.5 ‐ Latin America, Middle East/ Africa, etc. 91.6 79.8 -11.8 1.7 0.4 -1.3 ‐ Japan 149.2 162.9 +13.7 2.2 2.2 ±0 ‐ North America 148.6 179.8 +31.2 -3.0 5.7 +8.7 ‐ Europe 30.8 25.5 -5.3 2.2 -0.3 -2.5 ‐ Others 0.7 1.5 +0.8 0.1 0.4 +0.3
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FY2026 Regional Net Sales Forecast (vs. FY2025) 22 (Billion yen) FY2025 (APR 2025 - MAR 2026) FY2026 Forecast (APR 2026 - MAR 2027) Variance GLOBAL 2,896.5 3,260.0 +363.5 ‐ ASEAN 613.5 710.0 +96.5 ‐ Australia/NZ 286.0 335.0 +49.0 ‐ Latin America, Middle East/ Africa, etc. 452.8 460.0 +7.2 ‐ Japan 659.4 765.0 +105.6 ‐ North America 661.7 710.0 +48.3 ‐ Europe 212.0 270.0 +58.0 ‐ Others 11.1 10.0 -1.1
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FY2026 Operating Profit Variance Forecast (vs. FY2025) (Billion yen) （ ） FY2026 APR 2026- MAR 2027 （ ） FY2025 APR 2025- MAR 2026 R&D Forex Sales Expenses Procurement Cost/Shipping Cost Others Volume/ Mix Price, Etc. Middle East effects （ ） FY2026 APR 2026- MAR 2027 23 75.5 +29.0 +30.8 -6.8 -28.7 -0.2 -9.6 +30.0 120.0 -30.0 90.0 +59.8 Procurement cost reduction +27.8 Inflation impact, etc. -49.3 Factory expenses -7.0 Shipping cost -0.2 Environmental regulatory compliance costs -7.2 FX impact on supplier procurement, etc. -2.4 ASEAN +19.4 Australia/NZ +2.3 Latin America, Middle East/ Africa, etc. +7.0 Japan +9.1 North America +14.0 Europe +8.8 Others -0.8 FX rate(Yen) Effect (bill yen)FY25 FY26 USD 151 154 +8.5 EUR 176 183 +1.7 THB 4.65 4.97 -31.0 AUD 98 110 +27.9 PHP 2.62 2.67 +3.2 Others - - +19.7 Excluding Middle East effects Incentives -7.2 Advertising expenses +0.4
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FY2026 Retail Sales Volume Forecast (vs. FY2025) FY2025 (APR 2025 - MAR 2026) FY2026 (APR 2026 - MAR 2027) Retail sales (000 units) 24 11 1542 55 165 157 71 69 141 155 122 140 245 266 857 797 GLOBAL +60 (+8%) ASEAN +21 (+9%) Japan +18 (+15%) Latin America, Middle East/Africa, etc. +14 (+10%) Australia/NZ -2 (-3%) North America -8 (-5%) Europe +13 (+31%) Others +4 (+36%)
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CAPEX DepreciationR&D Expense FY2026 Capital Expenditure, R&D Expense and Depreciation Forecast Billion yen( ) 25 85.3 140.0 116.8 117.0 82.6 88.0 0% 1% 2% 3% 4% 5% 6% 0 1 2 3 4 5 6 7 8 ¥140.0bn +64% (YoY) ¥117.0bn ±0% (YoY) ¥88.0bn +7% (YoY) （ ） （ ） FY2025 APR 2025- MAR 2026) FY2026 APR 2026- MAR 2027) （ ） （ ） FY2025 APR 2025- MAR 2026) FY2026 APR 2026- MAR 2027) FY2026 APR 2026- MAR 2027) （ ） （ ） FY2025 APR 2025- MAR 2026)
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（ Yen ） FY2026 Shareholder Returns Forecast 期末 中間 5 10 15 10 10 0 2 4 6 8 10 12 14 FY2022 FY2023 FY2024 FY2025 FY2026 26 Dividend per Share: ¥10 Forecast (Forecast ）
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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. 27