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PresentationKarl Deppen, New Holding Company CEO / President and CEO, Mitsubishi Fuso Truck and Bus Corporation Dear Ladies and Gentlemen, Dear supporters and friends from the media, More than two years ago, the idea was born about a potential collaboration of Hino Motors and Mitsubishi Fuso that would transform the global automotive landscape as we know it.The four companies took it forward, thanks to the shared belief that our industry will be undergoing severe changes that require action.Today, this is more true than ever. In the early phase of our discussions we shaped our shared project vision, which has defined our common beliefs and joint ambition.We did this by considering the transformation of the industry and the investment needs into CASE technologies.It was a daunting challenge, but together we saw a way forward...Today, we are here to announce that Daimler Truck, Toyota, Mitsubishi Fuso and Hino have officially concluded the Definitive Agreements to integrate Mitsubishi Fuso and Hino.This means Hino and Fuso will come together on an equal footing to cooperate and develop commercial vehicles together, including eventually collaborating on procurement and production. We aim for the new listed holding company to start operations in April next year.The holding company will be listed on the prime market of the Tokyo Stock Exchange.Toyota and Daimler Truck will each aim to own 25% of that company's stock, with the rest of the shares available as free float.That holding company, which will own Mitsubishi Fuso and Hino, will be located right here in Tokyo. Let's take a look at the companies involved.First, Hino Motors―Over thirty thousand employees.Products produced and sold in 90 markets.Hino Motors has been 'making a better world and future by helping people and goods get where they need to go' for more than 80 years now. And Mitsubishi Fuso―Another 90 years of manufacturing prowess, sold in over 170 markets.Creators of the Japan's first mass-produced, all electric LDT, the eCanter.With this, Toyota and Daimler Truck, two leaders of the automotive industry are committing to join forces. It is this courage and foresight to take the long view that has set both companies apart as leaders in their field.And it was this common view of imagining the future for an integrated Hino and Fuso which energized all of us to pursue the task. Two years ago we signed the MoU and informed you about our aspirations.Since then, our industry has become even tougher.Our Japanese customers have been struggling with the so called 2024 issue of driver shortages, and outside of Japan strong competition from new, large-volume competitors is fiercer than ever. At the same time, we all have to step up significant investments into the relevant future CASE technologies and carbon neutral mobility.This is why in our industry scale matters, and this is why the Japanese market cannot support so many CV manufacturers, and this is why today is a great day. It is a great day for...Our customers,Our dealers and distributors,For our employees,For our shareholders,For our industry,For society. For our customers it is a great day because it will make our strong brands even stronger.By combining engineering strength, competencies, and expertise, the new company will be able to even better support our customers in their transportation needs.We will be ready to provide them with strong and efficient products, superior services and solutions, while being their go-to companion on migrating to zero emission solutions over the next years.Going forward, our integration means great things for commercial vehicles. With our combined expertise, passion and resources, this new company will offer new levels of quality, efficiency and technology to our customers. It is a great day for our dealers and distributors because we appreciate and value the close cooperation with them and honor the longstanding relationships we have shared for decades.This merger will help us to provide even better products in the future to make us successful together in our markets. It is a great day for our employees as we are building a new company that is strong and healthy, and draws on even larger competence and knowledge.We build a resilient business that has a bright future and provides great employment and development opportunities for our employees around the world.We'll be a company that people are proud to work for, happy to be associated with. It is a great day for our shareholders.We are aspiring to capitalise on our combined strength and aspire to turn our market success into attractive total shareholder return.And as a listed company we aim to be transparent in disclosure, trusted in performance, and reliable in our governance. It is a great day for our industry. We need to accelerate the development of the CASE technologies.The decarbonisation of transport is a key task for the industry and we will be an even stronger part of the solution.And a strong manufacturer will be also good for our suppliers to grow and support our customers better with technologies and efficiencies.As we accelerate our development of technology, we also increase our global competitiveness. And, finally, it is a great day for society: modern societies need modern transportation, and we aim at continuously providing safe and clean on-road transportation.And as much as we focus on our products and services, we also feel obliged to remain good corporate citizens in our neighbourhoods, no matter in Japan or internationally. Ladies and gentlemen, Combining two strong companies under one joint enterprise is a complicated task.What sounds like a logical move is, in reality, a complex transaction requiring tremendous efforts, hard work and enormous determination by everybody involved.So while this is a special day for all of us, I would like to acknowledge and appreciate the incredible hard work of all the employees and teams in Hino, Toyota, Mitsubishi Fuso, and Daimler Truck. A big thank you goes to all of you! To get here today took an incredible journey over the past two years, filled with deadlocks, difficulties and setbacks.But even more so, it was a journey of motivation, shared ambitions and the strong desire to seize a huge opportunity for both Fuso and Hino.I would also like to mention and appreciate the strong encouragement we have received from authorities and ministries to go ahead with our plans to strengthen our industry. And on a personal note, I feel honored to have gained the trust of the major shareholders to lead this new company. From the beginning, I have been convinced that this cooperation is for the good of all our stakeholders. With this, we will make the Hino and Fuso brands even stronger. To build and lead this new company is for me a tremendous honour - and even more so, it is an obligation and motivation to make it a success.And while acknowledging all the hard work necessary to get to this major milestone today, the real work will only start from now on! So what's going to happen next?As I said earlier, we aim for the new listed holding company to start operations in April 2026.Until then we have defined several milestones in between to make ourselves ready for it.We will now immediately file for the anti-trust clearance here in Japan to get the approval to proceed with our plans. Same for many other countries we are doing business in.We will select and fix the name of the new company.We will conclude the agreements of governance and company structure.We will announce the full management team and the board.We will incorporate the new company to be ready to go live.We will announce these details to the public in due time later in the year to keep you all informed. So please stay tuned and connected and join us on this exciting journey.I see this as an important opportunity for Fuso and Hino, and I'm pleased that my fellow CEOs see it the same way.I'm sure you'd like to hear it from them directly, so let me now pass you to my main partner in this incredible journey, a man for whom I have the utmost respect―Hino Motors CEO, Ogiso San.

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On June 3, Toyota Fudosan announced that the Toyota Group would make a tender offer for the shares of Toyota Industries Corporation. Once the transaction is completed, the shares of Toyota Industries will be taken private and delisted. This move will allow the company to pursue long-term growth, rather than immediate results, as a leader in the “mobility of goods.” To facilitate the takeover bid, a new holding company will be established. Toyota Fudosan, whose shares are held by Toyota Group companies, will invest approximately 180 billion yen. Regarding the investment, Toyota Fudosan Director Kenta Kon said, “Toyota Fudosan’s shareholders are comprised of 15 Toyota Group companies. More than Toyota Fudosan, this can be viewed as an investment by the Toyota Group.” Additionally, Toyota Motor will invest around 700 billion yen in non-voting preferred shares. Chairman Akio Toyoda will also make a personal investment of 1 billion yen. Toyota Industries Corporation was established in 1926 by Toyota Group founder Sakichi Toyoda. In 1933, Sakichi's eldest son, Kiichiro Toyoda, created an automobile division within the company, which went on to become Toyota Motor Corporation. The company that constitutes Toyota’s roots is being privatized. What were the context and motivations behind the decision? Immediately following the announcement, we spoke with Chairman Toyoda, President Koichi Ito of Toyota Industries Corporation, Director Kenta Kon of Toyota Fudosan, and Chief Officer Masahiro Yamamoto, who heads the Accounting Group at Toyota Motor. “Is Akio Toyoda going to control Toyota Industries?”“After reports of a 6 trillion-yen takeover bid, 16,300 per share is too low.”“Will the Toyota Group become a holding company?” How did the four leaders respond to such comments raised on social media by certain investors and members of the press following news of the takeover bid? During his 14 years as president, Akio devoted himself to the cause of restoring “what makes us Toyota.” Through his 1 billion-yen investment, he hopes to ensure that Toyota’s essence, which lives on in the Group’s original company, is never forgotten. In the course of its history, Toyota Industries ventured from producing looms into the uncharted territory of automobiles. Instead of sticking with the status quo, the company embarked on something new for the future. Going private is about returning to these roots in order to make another leap forward. Be sure to watch the video to learn the motivations behind this decision.

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Quotes:Akio Toyoda (TGR-WRT Chairman)“For us, TGR-WRT, Sardinia is truly a tough event. We had faced the challenge of this event eight times previously and we had only won once. Almost every year, someone ended up retiring early, leaving our competition to take the win. Ott lost victory on the Power Stage in 2019, and Seb missed it in 2024, also on the final stage. Last year, Seb missed out on winning by just 0.2 seconds due to trouble, which was really frustrating for us. This year, we had a close call in the Power Stage, and Seb redeemed himself! It’s a wonderful fifth victory for him in Sardinia. I am very thankful to Seb and Vincent. The team experienced several issues, including Takamoto's roll, but I’m also happy that all five cars completed the rally without any retirements and made it back to the finish. Being challenged on such a tough road helps us become stronger. And TOYOTA GAZOO Racing will continue to make ever-better cars as we overcome obstacles one by one through rally stages.” Jari-Matti Latvala (Team Principal)“We’re really happy that we were able to win this rally. It hasn’t been the easiest one for us in the past, and this year we were starting with three cars at the front opening the road on Friday, but still we could take our sixth win in six rounds, which is really incredible. There was a lot of drama through the event, and for some reason there always has to be drama in the Power Stage in Sardinia, but thankfully Seb managed to bring it home after a great performance from the beginning. Kalle could build his performance day by day, finishing with an amazing time on the Power Stage, while Elfyn was suffering the most from opening the road but drove a clever event and took the points that he could. All five of our cars finished in the points without retirements and overall it’s been a positive weekend for the championship.” Elfyn Evans (Driver car 33)“Overall we have to be satisfied with how our weekend has turned out. Fourth was realistically as much as we could expect starting first on the road on Friday. This is always a rally full of attrition and getting to the end without big issues was vital. The pace of the top three was pretty hot but the positive thing is that we did make clear progress through the rally in terms of feeling, especially in second-pass conditions, so that gives us some positives to take forward to Greece.” Kalle Rovanperä (Driver car 69)“I think we can be happy with our weekend. We had a lot of cleaning on Friday and after that we managed it the best we can with a clean and clever drive and maximum points from Sunday. I did everything I could in the Power Stage and I was surprised by the time gap because it didn’t feel great in such a narrow and slow stage, but I’m happy with the points. In terms of the pace this is probably the best weekend I’ve done in Sardinia, so thanks to the team for the good car.” Sébastien Ogier (Driver car 17)“I’m very happy to secure this win. It was a close fight until the end with Ott and this morning I had the opportunity to build a bit of a margin. Therefore in the Power Stage I was not pushing for the full points, but we still had to fight with the ruts and I got caught in a tight corner and preferred to stop and reverse the car. It wasn’t ideal and cost us some Sunday points, but we had enough in hand to achieve our main target which was to win. It’s a very satisfying win for myself and the team, which did a great job after Portugal to improve the car setup and the speed even without a test; the car was enjoyable to drive and the times were coming more easily.” Takamoto Katsuta (Driver car 18)“It’s been a very tough weekend as we expect here, but still we could finish fifth overall which is not so bad. We had some difficulties during the weekend with the roll and some other things, but this can happen in a rally like this and at the end I felt quite confident with the car. I tried to push in the Power Stage but just made a mistake at the end and got stuck in the very soft and loose surface. So it’s some mixed feelings but I think we are heading in a good direction looking forward to Greece.” Sami Pajari (Driver car 5)“It was a tricky final day for us. The plan was just to get to the finish with a good feeling but we hit something on the first stage of the day and broke something small in the suspension. We managed to fix it on the road section so that we could continue driving, and then the most important thing was to get to the finish and bring the points back. Up until today I think it was a positive weekend for us. The speed was better and coming more naturally and this is something good to take to Greece.” PROVISIONAL FINAL CLASSIFICATION, RALLY ITALIA SARDEGNA1 Sébastien Ogier/Vincent Landais (Toyota GR YARIS Rally1) 3h34m24.5s2 Ott Tänak/Martin Järveoja (Hyundai i20 N Rally1) +7.9s3 Kalle Rovanperä/Jonne Halttunen (Toyota GR YARIS Rally1) +50.5s4 Elfyn Evans/Scott Martin (Toyota GR YARIS Rally1) +5m05.7s5 Takamoto Katsuta/Aaron Johnston (Toyota GR YARIS Rally1) +7m29.6s6 Oliver Solberg/Elliott Edmondson (Toyota GR Yaris Rally2) +8m32.9s7 Sami Pajari/Marko Salminen (Toyota GR YARIS Rally1) +10m29.0s8 Nikolay Gryazin/Konstantin Aleksandrov (Škoda Fabia RS Rally2) +10m58.7s9 Roberto Daprà/Luca Guglielmetti (Škoda Fabia RS Rally2) +12m15.3s10 Kajetan Kajetanowicz/Maciej Szczepaniak (Toyota GR Yaris Rally2) +12m21.1s(Results as of 14:00 on Sunday, for the latest results please visit www.wrc.com) 2025 FIA World Rally Championship for drivers after round 6:1 Elfyn Evans 133 points2 Sébastien Ogier 1143 Kalle Rovanperä 1134 Ott Tänak 1085 Thierry Neuville 836 Takamoto Katsuta 637 Adrien Fourmaux 448 Sami Pajari 319 Grégoire Munster 1810 Josh McErlean 12 2025 FIA World Rally Championship for manufacturers after round 6:1 TOYOTA GAZOO Racing World Rally Team 312 points2 Hyundai Shell Mobis World Rally Team 2433 M-Sport Ford World Rally Team 874 TOYOTA GAZOO Racing WRT2 48 What's next?The Acropolis Rally in Greece completes a trio of demanding gravel events in southern Europe with an earlier date this year of June 26-29. A legendary event in the WRC, it has a reputation for rocky mountain roads and high temperatures.

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