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Outline of Consolidated Results for Second Quarter of FY2025 and Revision of Financial Forecast for FY2025 October 31, 2025 Toyota Tsusho Corporation １
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Mar. 31, 2025 Sep. 30, 2025 Variance Net DER (times) 0.39 0.47 +0.08 Operating C/F 160.6 140.4 (20.2) Investing C/F（※） (63.6) (236.5) (172.9) FY2024 1-2Q FY2025 1-2Q YoY Variance （ratio） Incl. FX Impact FY2025 Forecast Announced on April 28,2025 Revised FY2025 Forecast Variance （ratio） 1-2Q Progress ratio Operating profit 247.9 261.1 ＋13.2 (＋5%) (2.7) 490.0 530.0 +40.0 (＋8％) 49％ Profit 181.5 186.9 ＋5.4 (＋3%) (2.5) 340.0 360.0 +20.0 (+6%) 52％ One-off gains and losses (0.5) ＋0.5 +1.0 Summary of results for FY2025 1-2Q 2 （Unit: Billion yen） (Reference) FY2024 1-2Q Foreign exchange rate USD 153 yen EUR 166 yen 146 yen 168 yen FY2025 1-2Q 【Summary of results for FY2025 1-2Q】 ・Profit totaled 186.9 billion yen, marking a record high for a second quarter cumulative total . ・Compared to the previous fiscal year, profit increased due to solid global automobile production and higher sales in emerging markets. ・Due to reassessment of the current business environment and exchange rate assumptions, the revised full-year earnings forecast for FY2025 is 360 billion yen. The progress ratio is 52%. FY2025 Forecasts Announced on April.28,2025 Revised FY2025 Forecast Variance Interim 55 yen 58 yen +3 yen Full Year 110 yen 116 yen +6 yen Payout ratio 34.2% 34.0％ (0.2％) Dividend Per Share USD 135 yen 145 yen +10 yen EUR 155 yen 170 yen +15 yen ※ ( ) represents increases in investment
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FY2024 1-2Q FY2025 1-2Q YoY Variance （ratio） Incl. FX Impact Revenue 5,065.9 5,414.3 +348.4 (+7%) (74.0) Gross profit 542.5 585.9 ＋43.4 (+8%) (4.9) SG & A expenses (297.4) (328.2) (30.8) (+10%) +1.9 Operating profit 247.9 261.1 ＋13.2 (+5%) (2.7) Profit before income taxes 268.1 281.4 ＋13.3 (+5%) (3.0) Profit 181.5 186.9 ＋5.4 (+3%) (2.5) Outline of Consolidated Results 3 （Unit: Billion yen） (Reference) FY2024 1-2Q Foreign exchange rate USD 153 yen EUR 166 yen 146 yen 168 yen FY2025 1-2Q
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Operating Profit Others※ Profit Profit (66.4) (74.2) 4 FY2024 1-2Q (2.7) (1.4) +13.1 (7.2) Forex Impact Markets /Prices Demand /Trading Volume Automobile Sales Others Lifestyle Supply Chain Africa Digital Solutions Green Infrastructure Metal＋(Plus) Circular Economy +3.0 +2.1 +2.0 +1.6 +1.2 +1.0 +0.5 Circular Economy Metal＋(Plus) Lifestyle FY2025 1-2Q +5.4 Africa +9.1 Mobility +4.0 【Operating profit】 Others※ ※Others :Analysis below operating profit is on the next page. + 13.2 (1.0) (0.2) (0.2) 181.5 247.9 186.9 261.1 Operating Profit Profit Analysis (whole company) （Unit: Billion yen） +11.4 (Reference) FY2024 1-2Q Foreign exchange rate USD 153 yen EUR 166 yen 146 yen 168 yen FY2025 1-2Q
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FY2024 1-2Q FY2025 1-2Q Variance Main Factor Finance income and costs 8.2 5.6 (2.6) Increased interest paid due to increased interest-bearing debt, etc. Equity gain/Loss 11.9 14.7 +2.8 Rebound from impairment in electric power business in North America in the previous fiscal year, etc. Tax expense (72.0) (79.8) (7.8) Impact of increase in profit before income taxes and rebound from tax credit related to solar power business in North America in the previous fiscal year, etc. Non- controlling interests (14.5) (14.6) (0.1) ー Total (66.4) (74.2) (7.8) 5 Profit Analysis (whole company) 【Others】 （Unit: Billion yen） (Reference) FY2024 1-2Q Foreign exchange rate USD 153 yen EUR 166 yen 146 yen 168 yen FY2025 1-2Q
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FY2024 1-2Q FY2025 1-2Q Metal＋ (Plus) - - - - Circular Economy - (2.5) ・(2Q) Expenses related to recycle business in North America –4.0 ・(1Q) Gain on related to chemical business in Japan +1.5 Supply Chain - - - - Mobility - - - - Green Infrastructure (1.0) ・(2Q) Impairment in electric power business in North America -3.0 ・(1Q) Tax Credit related to solar power business in North America +2.0 +3.0 ・(2Q) Gain on related to wind power business in Europe +3.0 Digital Solutions - - - - Lifestyle +0.5 ・(1Q) Gain on sales of fixed asset of domestic food business +0.5 - - Africa - - - - Others - - - - TOTAL (0.5) +0.5 One-off Gains and Losses (Profit) 6 （Unit：Billion yen） ※One-off gains and losses are rounded to the nearest 0.5 billion yen
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Variance (Ratio) Main Factor (2.0) (-8%) Decreased profit due to decline in steel prices, despite an increase in trading volume of automobile production-related products mainly in North America (6.8) (-27%) Decreased profit due to one-off factors, despite an increase in trading volume of automobile production-related products +2.7 (+11%) Increased profit due to an increase in trading volume of automotive parts mainly in Asia/Oceania +1.4 (+5％) Increased profit due to an increase in automobile sales volume mainly in Asia/Oceania +3.3 (+27%) Increased profit due to a higher transaction volume in machinery- related businesses and one-off gains, despite a decrease in power generation volume in Europe +0.7 (+4%) Increased profit due to growth in projects in system-related businesses +1.3 (+15%) Increased profit due to a market upturn in the food business in South America and an increase in the transaction volume in the insurance business +6.7 (+17%) Increased profit due to higher automobile sales volume mainly in the West Africa region +5.4 (+3%) FY2024 1-2Q FY2025 1-2Q Metal＋(Plus) 23.4 21.4 Circular Economy 25.6 18.8 Supply Chain 23.9 26.6 Mobility 29.0 30.4 Green Infrastructure 12.1 15.4 Digital Solutions 15.3 16.0 Lifestyle 8.9 10.2 Africa 39.6 46.3 Total 181.5 186.9 7 Profit Analysis（Division） （Unit: Billion yen）
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Total Assets （Inventory） Net Worth Net Interest- bearing debt Net DER (times) Current ratio (％) Mar. 31, 2025 Sep. 30, 2025 Variance Incl. FX Impact 7,057.4 7,695.2 ＋637.8 ＋99.7 1,198.1 1,404.4 +206.3 ＋32.6 2,624.2 2,837.9 +213.7 1,036.2 1,342.9 +306.7 0.39 0.47 +0.08 166％ 156％ (10) 8 Consolidated Financial Position （Unit: Billion Yen） (Reference) Mar.31, 2025 Foreign exchange rate USD 150 yen EUR 162 yen 149 yen 174 yen Sep.30, 2025
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FY2024 1-2Q FY2025 1-2Q Variance Operating C/F 160.6 140.4 (20.2) Investing C/F (63.6) (236.5) (172.9) Dividend Payment (54.5) (58.0) (3.5) FCF After dividend Payment 42.5 (154.1) (196.6) ※ ( ) represents increases in investment 9 （※） Cash Flow （Unit: Billion Yen）
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10 （Unit: Billion yen） FY2025 1-2Q Total Investment Amount (256.0) Others 19.5 Investing C/F (236.5) Major Investment Nature Value (34.5) ・Renewable energy-related (Wind power generation in Japan and Egypt, etc.) Social Value (164.1) ・Acquisition of recycling business company in North America, etc. Core Value (57.4) ・Mobility business-related in Africa, etc. Others 19.5 ・Cash from the sale of assets, etc. Cash Flows from Investing Activities (1-2Q Results) SocialValue Realizing a sustainable society that is healthy and comfortable Nature Value Realizing a carbon-free society and ensuring a rich environment Core Value Realizing freedom of mobility that is safe and secure globally Automotive metal products and processing business Automobile distributor business Circular economy business Healthcare business Businesses that contribute to realizing a next- generation mobility society Businesses that contribute to solving social issues Businesses that contribute to solving environmental issues Renewable energy business Energy management business
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FY2024 1-2Q FY2025 1-2Q Variance Main factor of variance Finance income and costs (2.8) (2.7) ＋0.1 ー Equity gain/Loss 1.4 1.0 (0.4) ー Tax expense (8.0) (8.3) (0.3) ー Non-controlling interests (2.3) (1.5) ＋0.8 ー Total (11.8) (11.7) +0.1 FY2024 1-2Q FY2025 1-2Q 33.1 35.2 Others ※ Others ※ Profit (11.8) 23.4 (11.7) 21.4 ※Others Main Factor of Operating Profit Variance 11 Forex Impact (0.8) Markets /Prices Japan (0.8) China +0.3 Asia/Oceania +0.3 (0.2) Demand /Trading Volume North America +1.2 China +0.3 Europe (0.3) ＋1.0 Others Profit rebound in steel processing business in North America in the previous fiscal year (2.1) Total (2.1) Metal＋(Plus) Division (1-2Q Results) Operating Profit Operating Profit Profit (2.1) (2.0) （Unit: Billion yen） Decreased profit due to decline in steel prices, despite an increase in trading volume of automobile production-related products mainly in North America
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Profit 12 Operating Profit Operating Profit Profit 25.1 30.5 Others ※ Others ※ 25.6 (6.3) 18.8 Forex Impact (0.6) Markets/Prices Recycling business (1.1) Rare earth +0.2 (1.0) Demand/Trading Volume Battery materials +1.0 Recycling business +0.3 Lithium business (0.9) +0.5 Others Expenses related to recycle business in North America etc. (4.3) Total (5.4) Circular Economy Division (1-2Q Results) FY2024 1-2Q FY2025 1-2Q Variance Main factor of variance Finance income and costs 0.7 (2.8) (3.5) Impact of increased interest Equity gain/Loss 3.8 3.5 (0.3) ー Tax expense (8.9) (6.7) +2.2 Impact of decrease in profit Non-controlling interests (0.6) (0.3) +0.3 ー Total (4.9) (6.3) (1.4) (5.4) (4.9) (6.8) Decreased profit due to one-off factors, despite an increase in trading volume of automobile production-related products （Unit: Billion yen） FY2024 1-2Q FY2025 1-2Q Main Factor of Operating Profit Variance ※Others
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Profit 13 Operating Profit Operating Profit Profit 31.7 31.4 Others ※Others ※ (7.5) 23.9 (5.1) 26.6 Supply Chain Division (1-2Q Results) Forex Impact (0.9) Demand/ Trading Volume Asia/Oceania +1.3 South America ＋0.9 Europe ＋0.8 North America Japan (0.4) (0.4) ＋2.1 Others (0.9) Total +0.3 +0.3 FY2024 1-2Q FY2025 1-2Q Variance Main factor of variance Finance income and costs 2.0 3.8 +1.8 Increase in dividend income Equity gain/Loss 1.1 1.5 ＋0.4 ー Tax expense (8.9) (8.5) ＋0.4 ー Non-controlling interests (1.7) (1.9) (0.2) ー Total (7.5) (5.1) ＋2.4 +2.7 Increased profit due to increased trading volume of automobile production-related products mainly in Asia/Oceania （Unit: Billion yen） FY2024 1-2Q FY2025 1-2Q Main Factor of Operating Profit Variance ※Others
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Forex Impact (1.1) Demand/Trading Volume <Exports/Sales>Asia/Oceania +8.5 <Exports/Sales>East Asia (0.8) <Sales>Europe (Caucasus) (4.2) +4.0 Others (0.5) Total +2.4 Profit 14 Mobility Division (1-2Q Results) Operating Profit Operating Profit Profit 39.6 Others ※ (9.2) 30.4 37.2 Others ※ (8.2) 29.0 +2.4 FY2024 1-2Q FY2025 1-2Q Variance Main factor of variance Finance income and costs 0.9 (0.7) (1.6) Decrease in dividend income Equity gain/Loss 3.2 3.6 ＋0.4 ー Tax expense (10.7) (9.9) +0.8 ー Non-controlling interests (1.5) (2.1) (0.6) ー Total (8.2) (9.2) (1.0) +1.4 Increased profit due to higher automobile sales volume mainly in Asia/Oceania （Unit: Billion yen） FY2024 1-2Q FY2025 1-2Q Main Factor of Operating Profit Variance ※Others
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Profit 15 Operating Profit Operating Profit Profit Green Infrastructure Division (1-2Q Results) 22.6 17.0 Others ※ (4.9) 12.1 (7.2) 15.4 Others ※+5.6 Forex Impact +0.0 Demand /Trading Volume Machinery +3.7 Renewable energy (2.5) +1.2 Others Gain on related to wind power business in Europe +4.0 +4.4 Total +5.6 FY2024 1-2Q FY2025 1-2Q Variance Finance income and costs (3.6) (4.1) (0.5) ー Equity gain/Loss 0.7 +3.9 +3.2 Tax expense (1.2) (6.9) (5.7) Non-controlling interests (0.6) 0.0 +0.6 ー Total (4.9) (7.2) (2.3) FY2024 1-2Q FY2025 1-2Q Variance Green- energy 5.6 7.0 +1.4 (Reference) Business performance +3.3 Increased profit due to higher transaction volume in machinery-related businesses and one- off gains, despite a decrease in power generation volume in Europe （Unit: Billion yen） FY2024 1-2Q FY2025 1-2Q Main Factor of Operating Profit Variance FY2024 1-2Q FY2025 1-2Q Variance Main factor of variance Finance income and costs (3.6) (4.1) (0.5) ー Equity gain/Loss 0.7 3.9 +3.2 Rebound from Impairment in electric power business in North America in the previous fiscal year Tax expense (1.2) (6.9) (5.7) Rebound from tax Credit related to Solar Power Business in North America in the previous fiscal year, etc. Non-controlling interests (0.6) 0.0 +0.6 ー Total (4.9) (7.2) (2.3) ※Others
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Profit 16 Operating Profit Operating Profit Profit Digital Solutions Division (1-2Q Results) Others ※ Forex Impact (0.2) Demand/Trading Volume System related +2.3 Built in memory related +1.4 Display related ＋0.6 In vehicle electronics related (2.5) +1.6 Others Semiconductor business- related loss in Japan (0.5) (1.0) Total +0.4 +0.7 29.2(13.2) 16.0 Others ※ 15.3 (13.5)28.8 +0.4 Increased profit due to growth in projects in system-related businesses （Unit: Billion yen） FY2024 1-2Q FY2025 1-2Q Main Factor of Operating Profit Variance FY2024 1-2Q FY2025 1-2Q Variance Main factor of variance Finance income and costs (1.8) (2.3) (0.5) ー Equity gain/Loss 0.2 0.１ (0.1) ー Tax expense (8.0) (8.0) ＋0.0 ー Non-controlling interests (3.7) (3.0) ＋0.7 Impact of Elematec becoming a wholly-owned subsidiary, etc. Total (13.5) (13.2) ＋0.3 ※Others
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Forex Impact (0.2) Markets/Prices Overseas grain subsidiary (Trading) (0.9) Domestic grain business (0.3) Overseas edible oils and fats manufacturing and sales subsidiary +1.0 (0.2) Demand/Trading Volume Overseas grain subsidiary (Logistics) ＋1.2 Insurance business in India ＋0.8 Domestic insurance business ＋0.8 Domestic textile business +0.4 +3.0 Total +2.6 Profit 17 Operating Profit Operating Profit Profit Lifestyle Division (1-2Q Results) 14.2 11.6 Others ※ (2.7) 8.9 10.2 (4.0) +2.6 FY2024 1-2Q FY2025 1-2Q Variance Main factor of variance Finance income and costs (0.5) 0.0 +0.5 ー Equity gain/Loss 2.0 1.2 (0.8) Rebound from gain on sale of fixed asset of domestic food business in previous fiscal year, etc. Tax expense (3.5) (4.2) (0.7) ー Non-controlling interests (0.7) (1.0) (0.3) ー Total (2.7) (4.0) (1.3) +1.3 Others ※ Increased profit due to a market upturn in the food business in South America and an increase in the transaction volume in the insurance business （Unit: Billion yen） FY2024 1-2Q FY2025 1-2Q Main Factor of Operating Profit Variance ※Others
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FY2024 1-2Q FY2025 1-2Q Variance Main Factor of variance Finance income and costs (4.0) (3.4) +0.6 ー Equity gain/Loss (0.7) (0.1) +0.6 ー Tax expense (18.2) (22.9) (4.7) Impact of increase in profit, etc. Non-controlling interests (3.1) (4.5) (1.4) ー Total (26.2) (31.1) (4.9) Profit ※Others Main Factor of Operating Profit Variance 18 Operating Profit Operating Profit Profit FY2024 1-2Q FY2025 1-2Q Africa Division (1-2Q Results) 77.4 65.8 Others ※Others ※ (26.2) 39.6 (31.1) 46.3 +11.6 Forex Impact +1.0 Automotive <Sales> West Africa +5.2 <Sales/Production>South Africa +2.1 <Sales>East/South Africa +0.7 +9.1 Non-Automotive Healthcare +1.4 Consumer goods +0.8 Green Infrastructure (0.2) ＋2.0 Others (0.5) Total ＋11.6(Reference) Major subsidiary by business segment Profit CFAO SAS 37.9 41.4 ＋3.5 Automotive 50.8 56.0 +5.2 Non- automotive 9.5 14.0 ＋4.5 Operating Profit FY2024 1-2Q FY2025 1-2Q Variance CFAO SAS 60.2 70.1 +9.9 [Shareholding ratio: 100％] +6.7 （Unit: Billion yen） Increased profit due to higher automobile sales volume, mainly in the West Africa region
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Revised Earnings Forecast for FY2025 Prerequisites Gross profit Operating profit Profit FY2025 Forecast Announced on April 28, 2025 1,120.0 490.0 340.0 Announced this time Revised Forecast Variance Ratio 1,190.0 +70.0 ＋6% 530.0 +40.0 ＋8% 360.0 +20.0 ＋6% USD/YEN EUR/YEN FY2025 Forecast Announced on April 28, 2025 135 yen 155 yen Announced this time 145 yen 170 yen （Unit: Billion yen） 19
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FY2025 Forecast Announced on April 28, 2025 Revised Forecast Variance (Ratio) 1-2Q Results Progress Ratio Metal＋(Plus) 41.0 41.0 +0.0 (+0%) 21.4 52％ Circular Economy 46.0 39.0 (7.0) (-15%) 18.8 48% Supply Chain 45.0 51.0 +6.0 (+13%) 26.6 52% Mobility 58.0 62.0 +4.0 (+7％) 30.4 49% Green Infrastructure 31.0 29.0 (2.0) (-6%) 15.4 53% Digital Solutions 32.0 33.0 +1.0 (+3%) 16.0 48% Lifestyle 14.0 17.0 +3.0 (+21%) 10.2 60% Africa 73.0 88.0 +15.0 (+21%) 46.3 53% TOTAL 340.0 360.0 +20.0 (+6%) 186.9 52% Revised Earnings Forecast by Division ※Profit 20 （Unit: Billion yen）
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Profit Profit 21 FY2024 Result +4.2 ( 11.0) Africa (2.5) 362.5 360.0 FY2024 Result vs FY2025 Revised forecast Others +9.2 ( 4.5) +2.6 ( 4.5) +1.5 We aim to achieve profit levels comparable to the previous year, driven by improvement in automobile sales and continued growth in Africa business (Reference) FY2024 Foreign exchange rate USD 153 yen EUR 164 yen 145 yen 170 yen Revised forecast for FY2025 （Unit: Billion yen） 【Profit Analysis】 Forex Impact Markets/Prices Demand/ Trading Volume Automobile Sales One-off Gains and Losses (FY2024) One-off Gains and Losses (Recycle business in North America) Revised Earnings Forecast for FY2025
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FY2025 Forecast Announced on April 28, 2025 Revised FY2025 Forecast Variance Interim 55 yen 58 yen ＋3 yen Full Year 110 yen 116 yen ＋6 yen Dividend payout ratio 34.2％ 34.0％ (0.2%) 22 Shareholder Returns In the period from FY2025 to FY2027, we aim to target a total payout ratio of 40% or more, including share repurchases, while maintaining a progressive dividend Shareholder Returns Policy
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Supplementary Materials of Financial Results 23
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Main Retail (Countries/Region) South Africa 13,158 16,524 +3,366 Sri Lanka 43 1,942 +1,899 Laos 2,552 4,274 +1,722 Caucasus 6,154 4,459 (1,695) Retail Sales Volume by Region Region FY2024 1-2Q FY2025 1-2Q Variance Asia & Oceania 17,479 20,335 +2,856 China , Hong Kong & Taiwan 16,400 14,067 (2,333) Central & South America 21,735 22,812 +1,077 Middle East & Southwest Asia 2,940 5,331 +2,391 Africa 50,483 56,906 +6,423 West & North Africa 25,268 28,230 +2,962 East & South Africa 25,215 28,676 +3,461 Europe Included East Europe 24,749 22,508 (2,241) Total 133,786 141,959 +8,173 Main Export Destination(Countries/ Region) South Africa 14,712 30,024 +15,312 Pakistan 15,197 24,954 +9,757 Australia 21,332 20,240 (1,092) Georgia 8,062 2,795 (5,267) Export Volume by Region Region FY2024 1-2Q FY2025 1-2Q Variance Asia & Oceania 28,868 27,224 (1,644) China , Hong Kong & Taiwan 4,986 2,791 (2,195) Central & South America 16,854 18,109 +1,255 Middle East & Southwest Asia 16,054 26,546 +10,492 Africa 36,050 52,252 +16,202 West & North Africa 10,714 11,395 +681 East & South Africa 25,336 40,857 +15,521 Europe Included East Europe 8,760 3,496 (5,264) Total 111,572 130,418 +18,846 24 （Unit：units） Car Exports and Retail Sales Volume by Key Region and Country
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25 Financial Summary for the Last Three Years FY2023 FY2024 FY2025 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Revenue 2,540.7 2,594.5 2,574.9 2,478.8 2,541.4 2,524.5 2,581.8 2,661.8 2,593.8 2,820.5 - - Profit 92.7 85.0 93.1 60.5 95.8 85.7 96.3 84.6 98.3 88.5 - - Operating C/F 92.2 111.0 168.1 170.8 79.4 81.2 142.0 209.2 34.6 105.8 - - 25 （Unit：Billion yen） 92.7 85.0 93.1 60.5 95.8 85.7 96.3 84.6 98.3 88.5 92.2 111.0 168.1 170.8 79.4 81.2 142.0 209.2 34.6 105.8 0 50 100 150 200 2,300 2,400 2,500 2,600 2,700 2,800 2,900 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Revenue Profit Operating C/F
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Inquiries Investor Relations Group E-mail ttc_ir@pp.toyota-tsusho.com Tokyo Head Office TEL +81-3-4306-8201 ◆ This presentation contains “forward-looking statements” about the strategies and plans of Toyota Tsusho Corporation and its Group companies that are not historical facts. These forward-looking statements are subject to a number of risks and uncertainties that could cause the Group’s actual or implied operating environment, performance, results, financial position, etc. to differ materially from the information presented here, which is based on assumptions and beliefs in light of information currently available to the management at the time of publication. The Group assumes no obligation to update or correct these forward-looking statements. ◆ This presentation is not intended to solicit, offer, sell or market securities, and should not be the sole basis for making investment and other decisions. ◆ This is an abridged translation of the original Japanese document and is provided for informational purposes only. If there are any discrepancies between this and the original, the original Japanese document prevails. Toyota Tsusho Corporation 26