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August 4, 2026 Yamaha Motor Co., Ltd. (Ticker symbol: 7272) First Half of FY2026 Earnings Presentation The Yamaha Factory Racing Team finished 2nd in a rain-soaked Suzuka 8 Hours
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© Yamaha Motor Co., Ltd. Contents of today's presentation 2 Business Results for the First Half of the Fiscal Year Ending December 31, 2026 Forecast Consolidated Results The forecast consolidated results stated herein are based on management's assumptions and beliefs in light of information currently available and involve risks and uncertainties. Please be advised that actual results may differ significantly from those discussed in the Forecast Consolidated Results. Potential risks and uncertainties include, but are not limited to, general economic conditions in Yamaha Motor’s major markets, changing consumer preferences and currency exchange rate fluctuations. SHITARA, MotofumiPresident, CEO and Representative Director HASHIMOTO, MitsuruExecutive Officer
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© Yamaha Motor Co., Ltd. 3 Outline
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© Yamaha Motor Co., Ltd. 4 FY2026 H1 Results Future Outlook Shareholder Returns Continuing from the first quarter, shipments were strong across nearly every business—particularly the motorcycle business—and higher unit sales led to higher revenue Operating profit increased, driven by higher unit sales, cost reductions, and favorable exchange effects. New records set forfirst-half revenue, operating profit, and net profit U.S. structural reforms are progressing as planned and a structural reform plan for the OLV business has been formulated Revenue: 1,498.0 billion yen (117% YoY), Operating profit: 158.5 billion yen (189% YoY) Revenue revised upward to 2,900.0 billion yen (114% YoY) and operating profit to 260.0 billion yen (206% YoY) No changes from the initial plan Full-year forecast revised upward based on first-half results and the future outlook for the second half Revised full-year forecast accounts for rising raw material prices due to the situation in the Middle East as well as one-time costs associated with structural reforms for the OLV business Aim for record-setting full-year operating profit and EPS by maintaining strong sales, price pass-throughs to offset higher raw material costs, and continuing cost reduction efforts Key Points Interim dividend of 25 yen per share and annual dividend of 50 yen per share (as originally planned) Aim to conduct flexible treasury stock buybacks through steady improvements to business performance
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© Yamaha Motor Co., Ltd. Appropriate level Unit Sales and Inventory Levels by Main Products (FY2026 H1) 5 Inventory Levels*1 as of the End of June *1: Distribution inventory (motorcycles and ATV + ROV are forecasts, outboard motors are past results) *2: Main five European markets *3: Total demand is the combined total of companies with the Vietnam Association of Motorcycle Manufacturers (VAMM) *4: Total demand and inventory levels for U.S. market only Motorcycle wholesale shipments remained strong in developed markets, ASEAN markets, and India. Demand continued to grow in Indonesia, with retail sales increasing while wholesale shipments remaining flat YoY Outboard motor wholesale shipments were flat in North America and Europe. Surface mounter wholesale shipments increased YoY, driven by higher orders mainly from China In addition to strong sales, inventory reduction efforts continued. Will review appropriate inventory levels to further improve CCC Product / Region Total Demand (vs. 2025) Unit Sales (vs. 2025) Motorcycles Europe,*² U.S., Japan 106% 106% Indonesia 109% 100% Thailand 104% 134% Vietnam*³ 106% 210% The Philippines 103% 104% India 123% 141% Brazil 114% 100% Outboards*4 North America, Europe 98% 99% ATVs/ROVs North America 105% 107% SPVs All - 121% Surface mounters All 106% 125%
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© Yamaha Motor Co., Ltd. 2025 2026 2026 (¥ Bil.) H1*² H1 YoY FY Forecast Revenue 1,277.8 1,498.0 117% 2,700.0 Operating Profit 84.0 158.5 189% 180.0 Operating Profit Ratio 6.6% 10.6% +4.0 pts. 6.7% Net Profit*¹ 53.1 113.9 215% 100.0 EPS (¥) 54.56 117.37 215% 103.05 ($/€) 148/162 158/185 ー 155/175 FY2026 H1 Business Results 6 *1 Profit attributable to owners of parent. *2 For the consolidated fiscal year ending December 31, 2025, we have finalized the provisional accounting concerning business combinations and the various figures for this first -half period reflect this accounting finalization. Revenue increased, driven by higher unit sales across nearly all businesses Operating profit increased significantly despite tariff impacts and rising raw material costs thanks to higher sales, cost reductions, and favorable exchange rates
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© Yamaha Motor Co., Ltd. 84.0* +65.7 -19.6 +7.3 +5.2 +5.5 +30.3 -20.0 158.5 Net cost impact SG&A expenses Exchange effects Sales effects R&D expenses Tariff effectsOthers 7 2026 H1 ($/€: 158/185) 2025 H1 ($/€: 148/162) (¥ Bil.) Operating profit increased significantly, driven by higher unit sales, lower R&D and SG&A expenses, and favorable exchange effects FY2026 H1 Operating Profit Factors Breakdown of sales effects Breakdown of net cost impact Breakdown of R&D expenses Breakdown of SG&A expenses Breakdown of Others Tariff effects Scale effects +29.0 Pricing +21.2 Cost reductions +9.1 Labor costs +0.4 Labor costs -2.2 Equity in earnings (losses) of affiliates +1.1 Gross impact -25.0 Financial Services +4.9 Others +10.6 Cost raises -28.7 Others +6.9 Logistics costs -0.8 Others +4.4 Refunds +5.0 Operating expenses +1.7 Others +6.5*For the consolidated fiscal year ending December 31, 2025, we have finalized the provisional accounting concerning business combinations and the various figures for this first-half period reflect this accounting finalization.
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© Yamaha Motor Co., Ltd. 8 Discontinuing in-house ROV production to improve profitability and focusing management resources on core strengths, targeting profitability by 2028 One-time costs of 12.0 billion yen related to structural reforms have been factored into the full-year plan Structural Reforms for the OLV Business Profitable for the Fiscal Year 20262025 Cost Reduction Initiatives Significant Improvement in Earnings Reinforcing Business Foundations Workforce Optimization, Production and Development Efficiency, Procurement Optimization 2027 2028 OLV Business Restructuring Focus on sport and high- end models to make our existing assets a strength Solidify foundation for earnings by improving product appeal and enhancing services Co-development and OEM supply of chassis Strengthen presence in utility segment by leveraging technologies from collaborative partners Focusing on core strengthsDiscontinuing in- house production ATVs Golf cars ROVs
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© Yamaha Motor Co., Ltd. Multi-Product Strategy for the North American Market Motorcycles ROVs ATVs Golf cars Personal watercraft Even after ceasing in-house production of ROVs, Yamaha Motor will continue to offer a wide product lineup through OEM supply Implement a multi-product strategy covering outdoor recreation, aiming to drive sales growth across the entire product range in the North American market Multi-Product Strategy Overview Effects Offering one-stop access to a broad product lineup for multi-category, multi-brand dealers Partner Companies Expand market share by attracting new customer segments Increase the number of items purchased and total spending per customer through cross-selling Enhance brand awareness and become a brand that customers continue to choose Through our broad product lineup, aim to grow sales of all powersports and marine products in the North American market ROVs ※Power Sports: Vehicles for leisure and sports use equipped with engines or motors, including motorcycles, ATVs, and ROV 9
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© Yamaha Motor Co., Ltd. Reference: Original full-year forecast 2025 2026 2026 (¥ Bil.) FY Results FY Revised Forecast YoY FY Forecast YoY Revenue 2,534.2 2,900.0 114％ 2,700.0 107% Operating Profit 126.4 260.0 206% 180.0 142% Operating Profit Ratio 5.0% 9.0% +4.0 pts. 6.7% +1.7 pts. Net Profit* 16.1 170.0 1,055% 100.0 621% EPS (¥) 16.59 175.16 1,056% 103.05 621% ($/€) 150/169 159/182 ー 155/175 – FY2026 Revised Forecast: Operating Conditions 10 *Profit attributable to owners of parent Revenue increases due to sales growth in each segment. While accounting for higher costs from the situation in the Middle East and expenses related to structure reforms for the OLV business, operating profit rises due to sales growth and cost reductions
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© Yamaha Motor Co., Ltd. FY2026 Revised Forecast: Operating Profit Factors 11 Strong performance continues in the Motorcycle business. Profit increases on sales growth, price pass-throughs to offset higher raw material costs, and continuing cost reduction efforts and favorable exchange effects (¥ Bil.) 11 126.4 +133.9 -55.9 -1.8 +14.4 +8.3 +45.9 -11.2 260.0 R&D expenses Net cost impact SG&A expenses Sales effects Exchange effects Others FY2026 Revised Forecast （$/€：159/182） Tariff effects FY2025 Results （$/€：150/169） Breakdown of sales effects Breakdown of net cost impact Breakdown of R&D expenses Breakdown of SG&A expenses Breakdown of Others Tariff effects Scale effects +59.6 Pricing +28.4 Cost reductions +18.9 Labor costs +4.8 Labor costs -1.0 Equity in earnings (losses) of affiliates +0.8 Gross impact -23.9 Financial Services +8.9 Others +37.0 Cost raises -74.8 Others -6.5 Logistics costs -4.3 Others +7.5 Refunds +12.7 Operating expenses -2.7 Others +22.4
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© Yamaha Motor Co., Ltd. Shareholder Returns 12 EPS ¥157.89 ¥110.12 ¥16.59 ¥175.16 Acquisition of treasury stock 30.0 bil. 20.0 bil. 10.0 bil. Implement flexibly Total payout ratio 49.4% 63.7% 272.8% 28.5% Annual dividend (¥) 48.3 50.0 35.0 50.0 2023 2024 2025 2026 Dividend per share Results Results Results Forecast The annual dividend of 50 yen per share planned for 2026 remains unchanged from the announced forecast
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© Yamaha Motor Co., Ltd. Details by Business Segment 13
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© Yamaha Motor Co., Ltd. *1 From 2026, the Unmanned Systems (UMS) business (drones and industrial unmanned helicopters) that was under the Robotics business was transferred to the Other Products business. Previous results have been adjusted accordingly. *2 For the consolidated fiscal year ending December 31, 2025, we have finalized the provisional accounting concerning business combinations and the various figures for this first-half period reflect this accounting finalization. FY2026 H1 Revenue and Operating Profit by Business 2025 2026 (¥ Bil.) H1 H1 YoY Land Mobility 808.2 984.6 122% Motorcycle 789.0 964.3 122% SPV 19.1 20.2 106% Marine Products 280.0 300.7 107% OLV 77.7 80.3 103% Robotics*1 48.3 60.1 125% Financial Services 53.9 63.6 118% Other Products*1 9.9 8.7 88% All 1,277.8 1,498.0 117% 14 2025 2026 (¥ Bil.) H1*² H1 YoY Land Mobility 59.4 112.7 190% Motorcycle 61.6 116.0 188% SPV -2.2 -3.3 - Marine Products 38.9 46.0 118% OLV -13.7 -12.0 - Robotics*1 -1.5 3.7 - Financial Services 8.1 12.1 151% Other Products*1 -7.1 -4.1 - All 84.0 158.5 189% Average foreign exchange rate for the period ($/€): 2025 (148/162) vs. 2026 (158/185) Operating ProfitRevenue
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© Yamaha Motor Co., Ltd. FY2026 Revised Forecast: Revenue and Operating Profit by Business Operating ProfitRevenue 15 Average foreign exchange rate for the period ($/€): 2025 full year (150/169), Revised full -year 2026 forecast (159/182) 2025 2026 (¥ Bil.) Results Revised Forecast YoY Land Mobility 108.7 184.0 169% Motorcycle 123.5 193.0 156% SPV -14.8 -9.0 - Marine Products 53.6 87.0 162% OLV -39.8 -40.0 - Robotics* 1.7 12.5 751% Financial Services 21.1 27.0 128% Other Products* -18.9 -10.5 - All 126.4 260.0 206% 2025 2026 (¥ Bil.) Results Revised Forecast YoY Land Mobility 1,615.1 1,908.0 118% Motorcycle 1,578.1 1,867.0 118% SPV 37.1 41.0 111% Marine Products 527.6 569.0 108% OLV 148.5 143.0 96% Robotics* 107.4 132.0 123% Financial Services 114.0 130.0 114% Other Products* 21.5 18.0 84% All 2,534.2 2,900.0 114% *From 2026, the Unmanned Systems (UMS) business (drones and industrial unmanned helicopters) that was under the Robotics business was transferred to the Other Products business. Previous results have been adjusted accordingly.
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© Yamaha Motor Co., Ltd. +4% +2% +3% +11% +11% +1%+3% +2% +20% +29% +7% +70% AsiaDeveloped markets Latin America & Others +6% +9% +3% +23% +14% +6%+6% +0% +4% +41% +0% +110% Units Results Revenue and operating profit increased due to higher unit sales in emerging markets, particularly in India and ASEAN nations, together with pricing pass-throughs and cost reductions Outlook Revenue increases driven by higher unit sales in India and ASEAN markets. Operating profit grows despite higher raw material costs due to the situation in the Middle East by implementing price pass-throughs and cost reductions Revenue / Operating Profit Ratio Operating Profit Ratio Revenue (¥ Bil.) Total demand Shipments Main five European markets, U.S., Japan Indonesia The Philippines India Brazil Vietnam Main five European markets, U.S., Japan Indonesia The Philippines India Brazil Vietnam 7.8% 12.0% 7.8% 10.3% 217.3 264.4 430.9 518.9 140.8 181.0 2025 H1 Results 2026 H1 Results 789.0 964.3 16*From FY2026, total EV demand will be included FY2026 H1 vs. FY2025 H1 386.4 888.7 302.9 FY2025 Results FY2026 Revised Forecast 1,578.1 1,867.0 FY2026 Revised Forecast vs. FY2025 Results Motorcycles
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© Yamaha Motor Co., Ltd. 17 New AEROX ABS Sport Scooter Launched in Japan 17
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© Yamaha Motor Co., Ltd. 228.4 116.5 182.7 FY2025 Results FY2026 Revised Forecast 527.6 569.0 Marine Products Revenue / Operating Profit Ratio -2% -2% +3% -2% +1% +4% -2% -10% -11% All horsepower segments 300+ horsepower segment +0% -1% +1%+0% -1% +1%+2% 0% -5% Water Vehicles, boats, etc.Outboard motors Water Vehicles, boats, etc.Outboard motors All horsepower segments 13.9% 15.3%Operating Profit Ratio Revenue (¥ Bil.) 121.8 136.3 56.6 62.4 101.6 102.0 2025 H1 Results 2026 H1 Results 280.0 300.7 300+ horsepower segment 18 Outboard motors in N. America and Europe Outboard motors in other regions Water Vehicles/Boats, etc. 10.2% 15.3%Total demand ShipmentsRetail sales Results Revenue grew as higher unit sales in regions outside the U.S. more than offset slight YoY declines in U.S. demand and wholesale shipments of outboards. Operating profitincreased, driven by higher unit sales, lower R&D expenses, reduced SG&A expenses, and favorable exchange rates Outlook Revenue increases from higher unit sales of outboard motors despite flat overall market demand. Operating profit increases despite U.S. tariff impacts, driven by higher unit sales, lower R&D and SG&A expenses, and favorable exchange rates Units (U.S. only) FY2026 H1 vs. FY2025 H1 FY2026 Revised Forecast vs. FY2025 Results
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© Yamaha Motor Co., Ltd. Robotics and Financial Services Robotics Business Financial Services Business Revenue (¥ Bil.) Receivables balance at end of period (Total, ¥ Bil.) Of which North America 2025 H1 Results 2026 H1 Results 53.9 63.6 Results Revenue increased from higher surface mounter unit sales. Operating profit also increased, driven by higher unit sales and continued cost reductions Outlook Revenue and operating profit increase from higher surface mounter unit sales as well as progress with wholesale shipments of semiconductor back-end equipment Results Revenue increased from higher receivables Operating profit increased due to improved interest rate margins and the absence of last year’s interest rate swap valuation losses Outlook Revenue and operating profit increase from higher receivables and improved interest rate margins Operating Profit Ratio 31.1 43.3 17.2 16.9 2025 H1 Results 2026 H1 Results 48.3 60.1 -3.2% 6.1% 1.6% 9.5% Semiconductor back-end process manufacturing equipment Revenue (¥ Bil.) Surface mounters, etc. *From 2026, the Unmanned Systems (UMS) business (drones and industrial unmanned helicopters) that was under the Robotics business was transferred to the Other Products business. Previous results have been adjusted accordingly and shown within the parentheses. 70.7 36.7 FY2025 Results FY2026 Revised Forecast 107.4 132.0 14.9％ 19.1% 18.5％ 20.8% FY2025 Results FY2026 Revised Forecast 130.0 114.0 Period-end exchange rate ($): FY2025 H1 (145), FY2026 H1 (162) FY2025 (157), FY2026 Revised forecast (160) 857.8 928.9 643.0 678.9 794.0 940.4 596.6 695.8 19 Operating Profit Ratio
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© Yamaha Motor Co., Ltd. FY2025 Results FY2026 Revised Forecast 93.3 55.3 143.0 20 Smart Power Vehicle and Outdoor Land Vehicle SPV Business OLV Business 19.1 20.2 2025 H1 Results 2026 H1 Results Operating Profit Ratio Revenue (¥ Bil.) Results Revenue increased from higher e-Kit unit sales. Operating profit decreased due to higher procurement costs and increased R&D expenses Outlook Revenue increases, driven primarily by higher unit sales of e-Kits. Operating loss narrowed through cost reductions Results Revenue increased from higher ATV unit sales and operating deficit narrowed thanks to SG&A cost reductions and favorable exchange effects, despite ongoing tariff impacts Outlook Revenue and operating profit decrease despite solid ATV sales due to lower ROV unit sales and one-time expenses related to structural reforms Operating Profit Ratio (including RV) Revenue (¥ Bil.) 48.2 51.2 29.5 29.1 2025 H1 Results 2026 H1 Results 80.377.7 RV LSM -17.6 (-20.3%) -14.9% (-13.9%) -26.8% (-30.9%) -28.0% (-30.6%) FY2025 Results FY2026 Revised Forecast 41.0 37.1 -11.5% -16.2% -40.0% -22.0% 148.5
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© Yamaha Motor Co., Ltd. +41.6 -12.8 +6.4 +3.4 +3.8 +18.0 -4.9 40.5 95.8 FY2026 Q2 Operating Profit Factors 22 Q2 2025 ($/€: 145/164) (¥ Bil.) Q2 2026 ($/€: 160/185) Net cost impact SG&A expenses Exchange effects Sales effects R&D expenses Tariff effectsOthers Breakdown of sales effects Breakdown of net cost impact Breakdown of R&D expenses Breakdown of SG&A expenses Breakdown of Others Tariff effects Scale effects +10.3 Pricing +14.1 Cost reductions +4.8 Labor costs +0.1 Labor costs -0.4 Equity in earnings (losses) of affiliates +0.5 Gross impact -9.9 Financial Services +2.0 Others +15.2 Cost raises -17.6 Others +6.2 Logistics costs -0.5 Others +3.3 Refunds +5.0 Operating expenses +0.2 Others +4.0
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© Yamaha Motor Co., Ltd. Main Financial Indicators (¥ Bil.) 2022 Results (J-GAAP) 2023 Results (J-GAAP) 2023 Results (IFRS) 2024 Results (IFRS) 2022–2024 Average*1 2025 Results (IFRS) 2026 Revised Forecast (IFRS) 2025–2027 Average Target Medium-Term Management Plan (2022–2024) Medium-Term Management Plan (2025–2027) Revenue*2 2,248.5 2,414.8 2,414.8 2,576.2 CAGR 12% 2,534.2 2,900.0 CAGR over 7% Operating Profit Ratio 10.0% 10.4% 10.1% 7.0% 9.1% 5.0% 9.0% Over 9% ROE 18.7% 15.4% 15.5% 9.7% 14.6% 1.4% 13.9% 14% range ROIC 11.9% 9.2% 9.1% 5.4% 8.8% 0.8% 7.7% 8% range ROA 11.2% 10.5% 10.3% 6.8% 9.5% 4.4% 8.8% 9% range Equity Ratio 45.9% 43.7% 42.0% 41.7% - 39.0% 43.7% - EPS (¥) 170.5 163.6 157.9 110.1 - 16.6 175.2 - Total Payout Ratio 35.7% 47.7% 49.4% 63.7% 46.9% 272.8% 28.5% Over 40% Payout Ratio 24.4% 29.5% 30.6% 45.4% - 211.0% 28.5% - Acquisition of Treasury Stock 20.0 30.0 30.0 20.0 - 10.0 Implement flexibly - ($/€) 132/138 141/152 141/152 152/164 - 150/169 159/182 145/155 23 *1 Calculated using Japanese GAAP standards for 2022 and 2023, and IFRS standards for 2024. *2 “Net sales” in Japanese GAAP is presented as “Revenue.”
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© Yamaha Motor Co., Ltd. Total Demand and Unit Sales by Main Products (FY2026 Revised Forecast) Product/Region Total Demand (vs. 2025) Unit Sales (vs. 2025) Motorcycles Europe*¹,U.S., Japan 104% 103% Indonesia 102% 102% Thailand 102% 117% Vietnam*² 101% 170% The Philippines 103% 120% India 111% 129% Brazil 111% 107% Outboards*³ North America, Europe 100% 99% ATVs/ROVs North America 103% 97% SPVs All - 124% Surface mounters All - 111% Total Demand (vs. 2025) Unit Sales (vs. 2025) 97% 101% 93% 95% 100% 119% 104% 138% 105% 116% 104% 123% 100% 108% 98% 107% 96% 87% - 119% - 97% Reference: Original plan *1:Main five European markets *2:Total demand is the combined total of companies with the Vietnam Association of Motorcycle Manufacturers (VAMM) *3:Total demand and inventory levels for U.S. market only 24
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© Yamaha Motor Co., Ltd. 123.5 +98.6 -44.5 -4.8 +2.7 -6.8 +27.3 -2.9 193.0 25年通期… 販売影響 原価影響 研究開発費… 販管費 その他 為替影響 関税影響 26年通期… 61.6 +46.7 -15.1 +1.6 +1.9 +5.1 +20.0 -5.7 116.0 1 2 3 4 5 6 7 8 9 2025 2026 (1,000 units) H1 Results H1 Results YoY Revised forecast YoY Japan 42 35 84% 65 85% N. America 47 57 123% 91 115% Europe 127 136 107% 218 104% Asia 1,870 2,157 115% 4，450 114% Other 364 377 104% 804 108% All 2,449 2,762 113% 5,628 112% Unit Sales Revenue Operating Profit Factors Net cost impact SG&A expenses Exchange effects Sales effects R&D expenses 2025 2026 (¥ Bil.) H1 Results H1 Results YoY Revised forecast YoY Japan 24.2 22.5 93% - - N. America 50.8 65.9 130% - - Europe 132.7 164.0 124% - - Asia 430.9 518.9 120% - - Other 150.4 193.0 128% - - All 789.0 964.3 122% 1,867.0 118% FY2025 Results FY2026 Revised Forecast Tariff effects Motorcycles Unit Sales and Revenue by Region/Operating Profit Factors R&D expenses Net cost impact Sales effects SG&A expenses Exchange effects Tariff effectsOthers Others 25 2025 H1 Results 2026 H1 Results
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© Yamaha Motor Co., Ltd. +1.6 +1.6 +2.8 +16.0 -8.4 53.6 +29.1 -9.2 87.0 38.9 +7.5 -3.4 +4.8 +0.8 +0.2 +9.1 -11.8 46.0 2025 2026 (1,000 units) H1 Results H1 Results YoY Revised forecast YoY N. America 51 50 99% 86 102% Europe 21 20 99% 31 92% Other 73 79 108% 170 111% All 144 149 103% 287 106% Unit Sales (outboard motors) Revenue Marine Products Operating Profit Factors 2025 2026 (¥ Bil.) H1 Results H1 Results YoY Revised forecast YoY Japan 14.7 11.5 78% - - N. America 167.1 180.4 108% - - Europe 37.4 43.5 116% - - Asia 22.3 24.8 111% - - Other 38.4 40.4 105% - - All 280.0 300.7 107% 569.0 108% Net cost impact SG&A expenses Exchange effects Sales effects 2025 H1 Results 2026 H1 Results R&D expenses FY2025 Results Tariff effects R&D expenses Net cost impact Sales effects SG&A expenses Exchange effects Tariff effectsOthers Others 26 Unit Sales and Revenue by Region/Operating Profit Factors *Prior-year results have been revised due to errors in previously reported figures. FY2026 Revised Forecast
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© Yamaha Motor Co., Ltd. -2.2 -0.1 -0.4 -0.6 +0.0 +0.1 -0.1 ±0.0 -3.3 -14.8 +4.5 -0.9 -1.3 +1.8 +1.9 -0.1 +0.0 -9.0 SPV Revenue 2025 2026 (¥ Bil.) H1 Results H1 Results YoY Revised forecast YoY All 19.1 20.2 106% 41.0 111% Operating Profit Factors FY2025 Results R&D expenses Net cost impact Sales effects SG&A expenses Exchange effects Net cost impact SG&A expenses Exchange effects Sales effects R&D expenses Tariff effectsOthers Others Tariff effects 27 Unit Sales and Revenue by Region/Operating Profit Factors 2025 H1 Results 2026 H1 Results FY2026 Revised Forecast
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© Yamaha Motor Co., Ltd. +9.6 -0.9 +0.8 +0.4 +0.4 +0.7 -0.1 1.7 12.5 -1.5 +4.8 -0.6 +0.9 -0.0 -0.3 +0.6 -0.1 Robotics Revenue 2025 2026 (¥ Bil.) H1 Results H1 Results YoY Revised forecast YoY Japan 9.2 9.8 107% - - North America 1.5 2.4 159% - - Europe 2.1 3.9 185% - - Asia 35.3 43.9 125% - - Other 0.2 0.1 55% - - All 48.3 60.1 125% 132.0 123% Operating Profit Factors Net cost impact SG&A expenses Exchange effects Sales effects R&D expenses FY2025 Results R&D expenses Net cost impact Sales effects SG&A expenses Exchange effects Tariff effectsOthers Tariff effectsOthers 28 Unit Sales and Revenue by Region/Operating Profit Factors *From 2026, the Unmanned Systems (UMS) business (drones and industrial unmanned helicopters) that was under the Robotics business was transferred to the Other Products business. Previous results have been adjusted accordingly. *Prior-year results have been revised due to errors in previously reported figures. 2025 H1 Results 2026 H1 Results FY2026 Revised Forecast 3.7
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© Yamaha Motor Co., Ltd. -39.8 -10.8 -0.4 +0.9 +3.9 +7.9 +0.2 -2.0 -40.0 -13.7 -1.3 -0.1 -0.1 +4.4 +0.2 +0.4 -1.7 -12.0 Revenue 2025 2026 (¥ Bil.) H1 Results H1 Results YoY Revised forecast YoY RV North America 36.9 38.7 105% - - Other 11.4 12.5 110% - - Total 48.2 51.2 106% 85.0 91% LSM North America 21.5 22.0 102% - - Other 7.9 7.1 90% - - Total 29.5 29.1 99% 58.0 105% All 77.7 80.3 103% 143.0 96% Operating Profit Factors Net cost impact SG&A expenses Exchange effects Sales effects R&D expenses OLV FY2025 Results Tariff effects R&D expenses Net cost impact Sales effects SG&A expenses Exchange effects Tariff effectsOthers Others 29 Unit Sales and Revenue by Region/Operating Profit Factors *Prior-year results have been revised due to errors in previously reported figures. 2025 H1 Results 2026 H1 Results FY2026 Revised Forecast
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© Yamaha Motor Co., Ltd. 30 *1 For the consolidated fiscal year ending December 31, 2025, we have finalized the provisional accounting concerning business combinations and the various figures for this first -half period reflect this accounting finalization. *2 Excluding lease debt (¥ Bil.) 2025 H1 Results 2026 H1 Results Cash flows from operating 36.7 153.4 Cash flows from investing -39.7 -50.8 Free cash flow -3.1 102.6 Cash flows from financing 4.2 -110.8 Capital expenditures 46.4 53.8 Depreciation*¹ 42.7 46.0 R&D expenditures 77.9 72.9 (¥ Bil.) End of December 2025 End of June 2026 Cash and cash equivalents at end of period 398.9 401.5 Interest-bearing debt*² balance at end of period 1,044.3 1,029.7 Net cash -645.4 -628.2 Net cash (excluding Financial Services business) -59.0 19.8 Financial Condition 2026 Revised Forecast - - - - 2026 Revised Forecast - - - - 140.0 89.0 163.0
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© Yamaha Motor Co., Ltd. 31 2026 H1 Results (¥ Bil.) US$ EURO Other Total Foreign exchange effects on gross income (headquarters) 6.8 10.5 5.1 22.4 Conversion effects on gross income (overseas subsidiaries) 5.3 6.2 12.5 24.0 Conversion effects on SG&A expenses -4.6 -5.5 -7.1 -17.1 Other conversion effects -0.1 0.2 0.9 1.1 Foreign exchange effects on operating profit 7.4 11.4 11.5 30.3 (¥ Bil.) US $ EURO Foreign Exchange Sensitivity Effects on operating profit per yen of foreign exchange fluctuation 0.7 0.5 2026 Revised Forecast US$ EURO Other Total 15.8 11.4 5.2 32.4 10.4 7.2 21.8 39.4 -8.3 -6.7 -12.1 -27.1 0.5 0.2 0.4 1.1 18.3 12.1 15.4 45.9 US $ EURO 1.6 0.8 Foreign Exchange Effects (vs. FY2025 / FY2026 Forecast)