Sustainable Success Going Forward

4. Consistent Profitability Relative to Peers HMC has shown comparable operating performance relative to competitors during the past years Consolidated Operating Margin Trend 6.9% 5.5% 4.7% -1.9% 3.3% 6.2% 6.2% 6.0% 5.5% 5.6% 4.5% 4.6% W NISSAN 10.3% 2015 2016 2017 Source: Public filings Note: Based on consolidated financials, Calendarized financials for Japanese Firms. 8 7.8% 7.6% I 6.7% 6.9% 3.2% | 5.1% "3.8% 3.1% GM Ford - HYUNDAI

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