FISCAL YEAR 2020 FINANCIAL RESULTS - Nissan

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FISCAL YEAR 2020FINANCIAL RESULTSNissan Motor Co., Ltd.May 11th, 2021AGENDAFY20 RESULTSFY21 OUTLOOKNISSAN NEXT UPDATE2

FY20 SALES PERFORMANCETIV *3RETAIL VOLUMEvs. latestoutlookCOVID-19 1,4751,4571,457CHINA0.0%520491478JAPAN-2.6% 2% 8% 63% 0.9%1Q2Q4Q3Q*3: Nissan estimationNissan Sales(THOUSAND UNITS)1,2351,2131,180(940)(927)NORTHAMERICA(U.S.) 2%400367391EUROPE 6.5%495520513OTHERS-1.3%FY20 initial FY20 latestOutlook *1 Outlook *2 18% 2.8% 64%FY20Actual1Q2Q3Q4Q*1: Outlook on July 28, 2020*2: Outlook on February 9, 20213RECAP OF NISSAN NEXTMarketing& SalesG&A* CASE: Connected, Autonomous, Shared, Electric4Quality of salesFixed costManufacturingProductsSOW SEEDSFOR FUTUREPRIORITIZE & FOCUSCoreProductsCoreTechnologiesCoreMarketsNew ProductsGrowthRATIONALIZENew Technologies(CASE*)

RATIONALIZEFixed cost figures are all FY20 vs. FY18FIXED COST REDUCTIONManufacturingProduct *2 3 2 Shift Barcelona close (Dec.21) Indonesia close-7%*1*1: Excludes decrease in depreciation due to impairment in FY19 -20%(69 55 models)-5%*2: R&D / Design costsMarketing & SalesG&A Strategic allocation(Media, strategic, fixed) Cut sponsorship, Motor show-27%*3 7 4 Region MC Assets and facilitiesmanagement-11%*3: Management Committee 350B JPY reductionOperating Profit breakeven volume*4 [K-units]Approx.5,000Sales volumeFY18*4: Includes China JV-12%Approx.4,400Nissan NEXT5PRIORITY & FOCUS: QUALITY OF SALESFY20FY19All figures are FY20 vs last yearGLOBAL PERFORMANCERevenue rate per unit 0.7%1Q 1.1%2Q 1.7%3QIncentive % per retail unit 2.2%FY20 vs FY19-1.6pts4Q1Q2QCumulative basisInventory*-24%-26%1Q2Q* Includes China JVRental mix %FY20 vs FY19-24%-5pts1Q63Q4QChina JV equity basis(Nissan Dealer)-23%3Q4Q2Q3Q4QCumulative basis

PRIORITY & FOCUS: QUALITY OF SALESUSMarketNet revenueper unitshare*15.8% 3.8%5.5%ProductsValue4.96.11H2HIncentiveper unit*12Q7.11H2HAll New Rogue segment share*17.4%5.2% 5.5% 5.9%-4.6%1Q6.7*2: Source : NADA survey W20215.2%5.2%Franchise value on Dealer survey*23Q4Q1QAll figures are Nissan brand *1: For private customerJPNNet revenueper unitMarket share11.4% 2.3%2Q3Q4QProPILOTCumulative salesPenetration ratio*3500 / 350 / 8K unitsModels%Models*3: FY20 full year basis10.0% 10.1%Incentiveper unit9.3%All New Note segment share13.0%9.0% 9.4%-3.1%1Q2Q3Q7.3%4Q1Q2Q3Q4Q7PRIORITY & FOCUS: QUALITY OF SALESPRCMarket share11.9%11.6%11.4% 11.3%Net revenueper unit-1.8%Core model / technologiese-POWERtechnologyAll New X-TrailIncentiveper unit1Q2Q3Q4Q-0.6%All Figures are Nissan brandEURNet revenueper unitMarket share2.6%2.4%2.2%1Q82.6% 3.6%Fixed cost2Q3Q4Q-34%Juke performanceSales volume *1 36%Net revenueper unit *2 38%*1: FY20 vs. FY19 (FY19 includes old Juke)*2: FY20 new Juke vs. FY19 old Juke

SOW SEEDS FOR FUTURENEW PRODUCTSNEW TECHNOLOGIESLAUNCHESUNVEILSAll NewKicks e-POWERARIYAe-4ORCEAll NewRogueZ PROTONew NAVARA /FRONTIERINFINITI QX55 /INFINITI QX60MonographAll NewNissan MagniteProPILOT withNavi-linkAll NewFrontier /PathfinderAll NewNote e-POWERProPILOT RemoteparkAll NewQASHQAI9FY2020: KEY FINANCIAL PERFORMANCE TREND1QFY202Q3Q4Q(BILLION YEN)9,108.77,862.6Equity basisChina JV proportionate basis1,918.5Net 2,545.11,325.864.111.8-4.8OperatingProfitFull year-153.9 -136.0-19.0 3.3B JPY (Equity basis) 107.4B JPY (China JV proportionate basis)-150.7-28.6311.0 333.838.785.875.0118.6FCF(Auto business) 424.7B JPY (Equity basis) 538.2B JPY (China JV proportionate basis)-815.710-883.7-391.0 -345.5

FINANCIAL PERFORMANCE(TSE REPORT BASIS)(BILLION YEN)NET REVENUEOPERATING 84.5OP MARGINNON-OPERATINGORDINARY PROFIT44.0EXTRAORDINARY-617.0 *2PROFIT BEFORE TAXTAXESMINORITY INTEREST *4NET INCOME *5FX ,545.1-110.2-94.8-19.0-4.0%-2.6-0.7%14.1 *1-97.4-4.9VARIANCE-1.9%*1-70.5-221.2-265.2-118.1 120.8106.1123.8-590.1*2 233.7-9.3*3-687.5-14.2-30.27.2-60.4-6.4 222.5-710.5-81.0-2.6 3.0108.9120.1106.1127.8*1: Includes profit / loss in companies under equity method of -55.9 billion yen in YTD and 15.8 billion yen in 4Q*2: Includes impairment of business assets of -522.0 billion yen*3: Includes loss on shutdowns and others due to COVID-19 (net) of -36.6 billion yen in YTD and -1.2 billion yen in 4Q,and restructuring charges of -61.3 billion yen in YTD*4: Net income attributable to non-controlling interests*5: Net income attributable to owners of the parent11FINANCIAL PERFORMANCE(TSE REPORT BASIS)4Q (3 MONTHS) OPERATING PROFIT VARIANCE ANALYSIS VS FY19(BILLION YEN)EXTERNAL / SALES VOLUME-94.8PRICING / EXPENSE / COST 73.4-9.4-19.0 27.0-15.2FY194Q O.P.FOREXVOLUME & MIX *1/PARTS SALES /OTHERPRICING/SELLINGEXPENSEMONOZUKURI /FIXED COST *2 /OTHERFY204Q O.P.*1 : Includes volume impact on incentives*2 : Excludes fixed marketing expense, which is included in selling expenseFY20YTD:12-40.5-64.0-434.4 194.2 194.0(Includes one time items: 71.5)-150.7

FINANCIAL PERFORMANCE(TSE REPORT BASIS)OPERATING PROFIT VARIANCE ANALYSIS VS OUTLOOK(BILLION YEN)-470.0-150.7-205.0 30.0(Ref.) FY20INITIALOUTLOOK *1O.P.FY20OUTLOOK *2O.P.SALES PERFORMANCE 20.0SALES FINANCE 4.3OTHERFY20ACTUALO.P.*1: Initial outlook on July 28, 2020*2: Outlook on February 9, 202113LIQUIDITY STATUS(AS OF MARCH 31, 2021)1. Auto cash and cash equivalent: 1,896.1 billion yen*Auto net cash: 636.0 billion yen*2. Unused committed credit lines: approx. 2.2 trillion yen* Equity basis,Auto cash and cash equivalent : 2,293.1 billion yen, auto net cash : 1,030.2 billion yen on China JV proportionate basis14

AGENDAFY20 RESULTSFY21 OUTLOOKNISSAN NEXT UPDATE15FY21 SALES OUTLOOKRETAIL VOLUMEvs. FY204,400GLOBAL 8.6%510JAPAN 6.6%1,530CHINA 5.0%1,2131,420NORTHAMERICA 17.1%391380EUROPE-2.8%513560OTHERS 9.2%FY20ACTUALFY21OUTLOOK4,052478(THOUSAND UNITS)1,45716

FY21 OUTLOOK(TSE REPORT BASIS)(BILLION YEN)FY20FY21ACTUALOUTLOOKVARIANCECHANGEvs. FY20 (%)RETAIL VOLUME (K. units)4,0524,400 348 8.6%RETAIL VOLUME (K. units)excluding China2,5952,870 275 10.6%7,862.69,100.0 1,237.4 15.7%-150.70.0 150.7--1.9%0.0%-448.7-60.0 388.7-503.5405.4540.0440.0 36.5 34.6 7.2% 8.5%106.1123.8105.0120.8-1.1-3.0NET REVENUEOPERATING PROFITOP MARGINNET INCOME *R&DCAPEXFX RATE(USD/JPY)(EUR/JPY)* Net income attributable to owners of the parent17FY21 OUTLOOK(TSE REPORT BASIS)FY21 OPERATING PROFIT VARIANCE ANALYSIS(BILLION YEN) 550.0-150.0OPM on China JVproportionate basis 2.0%CHINA JV-150.7OPM on China JVproportionate basis 1.0%CHINA JV0.0-100.0FY20ACTUALO.P.18FOREX /REGULATORYAND PRODUCTENRICHMENTCOSTSPERFORMANCE INVESTMENT FORBUSINESS RISKSFY21FY21NEW VEHICLEOUTLOOK O.P.OUTLOOK O.P.BEFOREBUSINESS RISKSAFTERBUSINESSRISKS

AGENDAFY20 RESULTSFY21 OUTLOOKNISSAN NEXT UPDATE19NISSAN NEXT PROGRESSRATIONALIZEPRIORITIZE& FOCUSFOUNDATIONSTRATEGIC GOALSEnsure steady, profitable growthCapitalize core on competenciesEnhance quality of businessEnsure financial disciplineRestore Nissan-ness20SOW SEEDSFOR FUTURE

PRODUCT ACCEPTANCERogueHighest overall buyer satisfactionin Nissan North America’s history** Since comparison data became availableQashqaiHighest pre-ordersin Nissan Europe’s historyX-TrailBest upcoming new car award@ Shanghai Motor ShowNoteMore than 32,000 sales to date in Japan21PRODUCT LAUNCH MOMENTUMARIYAZZ PROTO22INFINITI QX60Monograph

RAMPING-UP ELECTRIFICATIONFY21 LAUNCHEDe-NV200Sylphy EVAriyaEVLEAFe-POWERVenucia T60EVVenucia e30Venucia D60EVKei EVQashqaiNew NoteSerenaKicksSylphy23TOWARDS FUTURE GROWTHEVERY ALL-NEW VEHICLE OFFERING IN KEY MARKETSTO BE ELECTRIFIED BY EARLY 2030s24X-Trail

TECHNOLOGY ROADMAPBATTERYContinuous application of cost reduction technologiesPack Cost LiquidSolidASSB20202030e-POWERDedicated design to realize attractiveness enhancement and cost reductionPowertrain Cost 2nd Gen e-POWERICE adopted to future regulation3rd Gen e-POWERICE202025MANUFACTURING INNOVATIONSNISSAN INTELLIGENT FACTORY262030

MANUFACTURING INNOVATIONSRENEWABLE ENERGY EXPANSION: SUNDERLAND PLANT27ELECTRIFICATION AND BEYONDBlue Switch284R EnergyCommunity Partnerships

NISSAN’S PURPOSEDRIVING INNOVATIONTO ENRICH PEOPLE’S LIVES29Appendix30

(BILLION TALASSETSPENETRATIONNET CREDITLOSS RATIO9,852.8267.98,879.346%47%0.93% 0.74%FY19YTDFY19YTDFY20YTDFY20YTDFY19YTD Strong profit and penetration results Asset decline resulting from lowerretail sales as well as COVID-19 Portfolio quality improvement resultingin lower Net Credit Losses Diversified funding sources, strongliquidity and equity positionFY20YTDFY19YTDFY19YTDFY20YTDFUNDING SOURCES AS OF MARCH 2021TOTAL FUNDING AMOUNT: 8,248 BILLION YENAsset BackedSecurities22.2%Commercial Paper & Other10.2%Equity19.1%Bank Loans33.1%Bonds15.4%31SALES %5033%403032% 27%5%102%2%4%43%2027% 29%25% 0YTDFY20YTDFY19YTDFY20YTDNFS: Nissan Financial Services, sales finance company in JapanNMAC: Nissan Motor Acceptance Company LLC, sales finance company in USNCF: Sales Financing division of Nissan Canada Inc.NRFM: NR Finance Mexico, sales finance company in MexicoFY19YTDFY20YTD

SALES FINANCINGNET CREDIT LOSS RATIOFY19YTDFY20YTDLease: 0.02%Lease: -0.01pointNFSLease: 0.03%Retail: 0.08%Total: 0.07%Retail: 0.07%Total: 0.06%Retail: -0.01pointTotal: -0.01pointNMACLease: 0.46%Retail: 1.61%Total: 1.08%Lease: 0.44%Retail: 1.35%Total: 0.94%Lease: -0.02pointRetail: -0.26pointTotal: -0.14pointNCFLease: 0.08%Retail: 0.21%Total: 0.15%Lease: 0.08%Retail: 0.18%Total: 0.13%Lease: 0.00pointRetail: -0.03pointTotal: -0.02pointVARIANCENFS: Nissan Financial Services, sales finance company in JapanNMAC: Nissan Motor Acceptance Company LLC, sales finance company in USNCF: Sales Finance division of Nissan Canada Inc.33SALES FINANCINGOPERATING PROFIT & ASSETFY19YTDNFS(billion yen)NMAC(million USD)NCF(million CAD)NRFM(million MXN)FY20YTDAsset: 1,470.3OP:34.5Asset: 1,441.4OP:32.2Asset:OP:-28.9-2.3Asset: 55,923OP:826Asset: 46,203OP:1,312Asset:OP:-9,720 486Asset:OP:Asset:OP:Asset:OP:-851 588,966190Asset: 127,241OP: 2,8938,115248Asset: 98,308OP: 3,624NFS: Nissan Financial Services, sales finance company in JapanNMAC: Nissan Motor Acceptance Company LLC, sales finance company in USNCF: Sales Financing division of Nissan Canada Inc.NRFM: NR finance Mexico, sales finance company in Mexico34VARIANCEAsset: -28,933OP: 731

FY20 SALES PERFORMANCERETAIL VOLUMETIV *85.73vs. FY1976.98GLOBAL APAN-7.6%19.67(16.55)vs. FY19GLOBAL A(U.S.)-11.1%(-9.5%)(MILLION UNITS)19.1216.02EUROPE-16.2%GLOBAL(excl. China)-12.8%17.59FY19YTD15.39OTHERS-12.5%(THOUSAND UNITS)1,620FY20YTD(1,237)521GLOBAL(excl. China)-23.3%* Nissan estimation35FY20 4Q (3 MONTHS) SALES PERFORMANCERETAIL VOLUMETIV *vs. FY19vs. FY1922.26GLOBAL 9.0%7.73CHINA 9.9% 3.2%1,272GLOBAL471CHINA 3.4%153162JAPAN 6.1%339368(258)(286)NORTHAMERICA(U.S.) 8.6%( 10.8%)1,23320.434567.031.43JAPAN 4.2%4.55NORTHAMERICA(U.S.) 10.1%( 11.5%)4.14(3.91)(MILLION UNITS)(3.51)4.03EUROPE 3.2%GLOBAL(excl. China) 8.5%3.854.39FY194QFY204Q* Nissan estimation364.16OTHERS 13.8%(THOUSAND UNITS)1.37GLOBAL(excl. China)125110EUROPE-11.8%161161OTHERS 0.1%FY194QFY204Q 3.1%

FINANCIAL PERFORMANCEFY20 YTD(BILLION YEN)China JVproportionatebasisEquity basisNET REVENUEFY20 4QChina JVproportionatebasisEquity %-0.3%-0.7%0.4%NET INCOME *-448.7-448.7-81.0-81.0FREE CASH 030.2OPERATING PROFITOP MARGINNET CASH(AUTO)2,984.6* Net income attributable to owners of parent37FINANCIAL PERFORMANCE(TSE REPORT BASIS)FY20 YTD OPERATING PROFIT VARIANCE ANALYSIS(BILLION YEN)FOREIGN EXCHANGEIMPACTVOLUME/MIXSELLINGEXPENSES-64.0-366.4 194.2TRY-13.3 (18.6 14.5)VOL*1:MIX:INCENTIVES*2:RUB-12.0 (1.68 1.43)VOL*1:BRL-11.0 (26.5 19.6)ARS-8.9 (2.07 1.39)AUD 4.9 (74.1 76.2)THB 3.8 (3.51 3.42)USD -30.3 (108.7 106.1)OTHERS38 2.8JPNUS-33.1-26.7-10.7 4.3MIX:INCENTIVES*2:-347.7-38.8 217.8VOL*1:MIX:INCENTIVES*2:-120.5-5.3 69.2-168.7EUR -56.6MEX&CANOTHERS-26.7-81.3*1: Includes country mix*2: Volume impact on incentivesJPN 6.1 INCENTIVES: 2.5OTHERS: 3.6US 79.5 INCENTIVES: 52.5OTHERS: 27.0EUR 31.3 INCENTIVES: 14.0OTHERS:MEX&CAN 21.0OTHERS 56.3 17.3

FINANCIAL PERFORMANCE(TSE REPORT BASIS)FY20 4Q (3 MONTHS) OPERATING PROFIT VARIANCE ANALYSIS(BILLION YEN)FOREIGN EXCHANGEIMPACTVOLUME/MIXSELLINGEXPENSES 7.7 73.4-15.2USDBRLARS-3.2 (24.5 19.4)VOL*1:MIX:INCENTIVES*2: 2.8-1.2-0.7-3.2 (1.77 1.20)VOL*1:MIX:INCENTIVES*2: 39.8-19.2-9.0VOL*1:MIX:INCENTIVES*2:-10.6-0.8 7.2-12.4 (108.9 106.1)JPNUSRUB -2.8 (1.64 1.42)AUD 4.0 (71.6 82.0)CAD 3.6 (81.1 83.8)OTHERSEUR 0.9 11.6-4.2MEX&CAN-1.2OTHERSJPN-1.4 INCENTIVES:OTHERS:-1.7 0.3US 43.0 INCENTIVES: 43.5OTHERS:-0.5EUR 4.0 INCENTIVES: 3.0OTHERS: 1.0MEX&CAN 12.8OTHERS 15.0-2.0 1.4*1: Includes country mix*2: Volume impact on incentives39FINANCIAL PERFORMANCE(TSE REPORT BASIS)FREE CASH FLOW (AUTO BUSINESS)(BILLION YEN)1Q2Q3Q4QFY20YTDNET CASH INFLOW FROMP&L ITEMS-202.9 0.1-4.2 38.5-168.3AP/AR-618.2 226.9 226.4 32.1-132.7INVENTORY 157.6 56.6-93.6 118.6 239.2-47.7 103.2-31.6-38.3-14.7-711.2 386.8 97.0 150.9-76.5-108.0-93.0-73.3-86.2-360.5 3.5 17.2 15.0 10.3 46.0-815.7 311.0 38.7 75.0-391.0TAX/OTHEROPERATING ACTIVITIESCASH FLOWFROM OPERATING ACTIVITIESCAPEX*OTHERSFREE CASH FLOWFY19 FREE CASH FLOW*CAPEX does not include finance lease-related investments401Q2Q3Q4QYTD-385.5-29.5-255.9 29.9-641.0

(EXCLUDING CHINA JV)INVENTORY STATUS(THOUSAND .Sep.Dec.2021Mar.Dealer inventory, except some minor countriesConsolidated Nissan inventory, except some minor countries41NET CASH BY BUSINESS SEGMENT(TSE REPORT BASIS)AS OF MARCH 31, 2020(BILLION YEN)BORROWINGSFROMTHIRD 67,599.2-444.3444.30.0-834.5834.50.0CASH ANDCASH T TERNAL LOANTO SALESFINANCING (NET)42AUTOMOBILE&ELIMINATIONSAS OF MARCH 31, 2021

This presentation contains forward-looking statements, based on judgments andestimates that have been made on the basis of currently available information. Bynature, such statements are subject to uncertainty and risk. Therefore, you are advisedthat the final results might be significantly different from the aforementionedstatements due to changes in economic environments related to our business, markettrends and exchange rate, etc.43

forex / regulatory and product enrichment costs fy21 outlook o.p. before business risks china jv opm on china jv proportionate basis 2.0% (billion yen) fy21 operating profit variance analysis 0.0 opm on china jv proportionate basis 1.0% fy21 outlook o.p. after business risks-100. 550.0 investment for new vehicle-150. china jv

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