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FY2016 3Q Financial Results

February 8, 2016

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Contents

Ⅰ. FY2016 3Q OutlineDirector of the Board and Managing Executive Officer : Makoto Kawahara

Ⅱ. FY2016 3Q Financial SummaryAssociate Division Executive Corporate Planning & Finance Division: Hirokazu Ookubo

Ⅲ. Q&A

Statements contained in this presentation, except for historical or current facts, are based on certain assumptions and our management's judgment in light of currently available information. Therefore, these statements may be susceptible to various factors, such as uncertainty contained in the assumptions and management's judgment and economic changes in the future, which may cause to bring about different

results in Isuzu's future earnings and operating results.

Moreover, this presentation is not intended to solicit investment in Isuzu. Isuzu assumes no responsibility for any losses and liabilities that may be incurred because of the information in this presentation.

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Ⅰ. FY2016 3Q Outline

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FY16 1-3Q FY15 1-3Q ChangesNet Sales 1,416.3 1,349.1 67.2

Operating Income 124.5 123.0 1.5Ordinary Income 138.8 135.9 2.9

*Net Income 79.6 82.4 -2.8

FY2016 3Q Consolidated Results- Year-on-year Comparison -

( JPY Bil. ) FY16 3Q FY15 3Q Changes

Net Sales 445.3 467.0 -21.7Operating Income 38.3 46.0 -7.7Ordinary Income 40.2 51.2 -11.0

* Net Income 26.5 32.8 -6.3

【9 months 】

※FX：FY2016 3Q: 122 JPY/$

FY2015 3Q: 109 JPY/$

※Net income attributable to owners of parent

※Net income attributable to owners of parent

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Ⅱ-1. Market Information

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Japan

34 38

5954

13

1816

13

18

9

15

2

Oceania

46

2634 28

47

Asia

3815

27

5542

93

12

Europe

21

China

2932 63

20

319

19

4059

15

6

CV Global Shipment- Vehicle and KD-SET, etc: K-units -

42

24

5

412

2120 21

4015

37

21

6696

10

6

82 2

1213 12

811 84 3

56 6

： 1HFShipment FY14 FY15 FY16

3Q 75,659 80,006 72 ,225

1-3Q 218,030 242,716 236 ,955

： 3Q

’14/3 1-3Q ’15/3 1-3Q ’16/3 1-3Q

’14/3 1-3Q ’15/3 1-3Q ’16/3 1-3Q

’14/3 1-3Q ’15/3 1-3Q ’16/3 1-3Q

’14/3 1-3Q ’15/3 1-3Q ’16/3 1-3Q ’14/3 1-3Q ’15/3 1-3Q ’16/3 1-3Q

’14/3 1-3Q ’15/3 1-3Q ’16/3 1-3Q’14/3 1-3Q ’15/3 1-3Q ’16/3 1-3Q

’14/3 1-3Q ’15/3 1-3Q ’16/3 1-3Q

5

8

Mid-East/Africa

North America

Mid-South America

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Japan Industry Sales and Isuzu Share- H/D, M/D Truck:4ton or above

（Share）（Unit）

（Unit） （Share）Oct-Dec

Apr-Dec

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Japan Industry Sales and Isuzu Share- L/D(2-3ton) Truck -

（Share）（Unit）

（Unit） （Share）

Apr-Dec

Oct-Dec

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14

Oceania

9Asia

22

57

4

Europe

China

14

30

13

LCV Global Shipment- Vehicle and KD-SET, etc: K-units -

11

10

3719

22 3

12

25

315

396

13

12143

154

4

185

2321

10728 33

83936

19

58

1349

20

1455

1938 5

： 1HF

： 3Q

Shipment FY14 FY15 FY163Q 71,093 83,309 74,729

1-3Q 257,906 250,864 255,536

’14/3 1-3Q ’15/3 1-3Q ’16/3 1-3Q

’14/3 1-3Q ’15/3 1-3Q ’16/3 1-3Q

’14/3 1-3Q ’15/3 1-3Q ’16/3 1-3Q ’14/3 1-3Q ’15/3 1-3Q ’16/3 1-3Q

’14/3 1-3Q ’15/3 1-3Q ’16/3 1-3Q ’14/3 1-3Q ’15/3 1-3Q ’16/3 1-3Q

41410

Thailand

’14/3 1-3Q ’15/3 1-3Q ’16/3 1-3Q

37

94

38

66 62

30

92

131

104

Mid-South America

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Industrial Engine Global Shipment- K-Units-

～1.1 1.6 2.2 2.4 3.0 5.2 7.8 9.8 15.7 ℓ

C(IDI) C(DI) 4L 4J 4H 6H 6U 6W

54 70 46 50 54 40

36 34

23 27 24

14

0

50

100

150

FY11 FY12 FY13 FY14 FY15 FY16

77 7890

70 54

H1

3Q

104

Industrial Engine

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Ⅱ-2. FY2016 3Q Financial Summary

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( JPY Bil. ) FY16 3Q FY 15 3Q Changes

Net Sales 445.3 467.0 -21.7Operating Income 38.3 46.0 -7.7Ordinary Income 40.2 51.2 -11.0

*Net Income 26.5 32.8 -6.3

FY2016 3Q Consolidated Results（Oct.-Dec. 2015）- Year-on-year Comparison -

※FX: FY2016 3Q: 122JPY/$FY2015 3Q: 109JPY/$

※Net income attributable to owners of parent

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46.0

-7.7

5.0 38.3-1.0

-3.7

FY2015 3Q vs. FY2016 3Q Fluctuations- Consolidated operating income: analysis of change, JPY:Bil. -

0.1-9.8

1.7

Operating Income for FY15 3Q Operating Income for FY16 3Q

Sales/Model M

ix

Cost R

eduction A

ctivity

FX

Steel, Oil Price

etc. Fluctuations

Fixed Cost

Fluctuation

Expenses for grow

th strategy

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FY2016 3Q Consolidated Results（Oct.-Dec. 2015)- Ordinary income, Net income, Year-on-year -

( JPY Bil. ) FY16 3Q FY15 3Q ChangesNet Sales 445.3 467.0 -21.7

Operating Income 38.3 46.0 -7.7

Ordinary Income 40.2 51.2 -11.0

*Net Income 26.5 32.8 -6.3※Net income attributable to owners of parent

※Net income attributable to owners of parent

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