2023 Outlook and Advancing The Ford Plan: Electrification

2023 Outlook ($B, YoY Change) + Volume: Industry, supply chain ~ Pricing: + All-new Super Duty - Lower ATPs + Material: Production stability + + Commodities - Ford Credit: - - More normalized credit losses and auction values, non-reoccurrence of derivative gains and higher borrowing costs Low-double-digit target for return on equity Continued smaller balance sheet - Growth investments: + Argo wind down Customer experience, EV capacity expansion $10.4 Tailwinds $1.0-$3.0 ~$2.5 Headwinds Commodities ~$- ~$(2.0) ~$(1.4) ~$(0.5) ~$(1.0) Ford $9.0 - $11.0 2022 Volume Net of Mfg. Cost Pricing COGS (Material / Logistics) Past Service Pension Ford Credit Growth Exchange/ Invest. Other 2023 Outlook 23 23

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