Presentation for

Russian Investors

February 2016

— Executive Summary

— Toyota Motor Corporation

— Toyota Financial Services Corporation

— Toyota Motor Finance (Netherlands) B.V.

— Toyota in Russia

— Investment Considerations

Contents

P.2

Executive Summary

P.3

— Toyota Motor Corporation (TMC) is a global automotive producer operating worldwide (based in Japan).

The history of the company accounts for over 77 years. Despite the long tradition of stability and

conservatism, Toyota now is at the forefront of market innovation and technological development.

— TFSC, wholly owned by Toyota Motor Corporation (TMC), was established in July 2000 as a holding

company of Toyota’s financial subsidiaries worldwide.

— Toyota Motor Finance (Netherlands) B.V. (TMF) is private company with limited liability under the

Netherlands laws with over EUR 7.8bn in assets. The company was established to issue securities for

TFSC and its subsidiaries and to provide guarantee to the debentures issued by the companies of the

Group.

— Toyota uses Credit Support Agreement (CSA) structure to enhance credit profile of its Financial Services

businesses. Under the terms of the CSA, TMC will provide sufficient liquidity for the obligations of bonds,

debentures, and commercial papers of its direct and indirect subsidiaries. The Agreement structure has

been widely used to transmit the TMC outstanding credit profile to the debentures of controlled entities in

different countries including Netherlands and the USA.

— AO Toyota Bank is an entity registered under Russian legislation, subject to the Central Bank of Russia

regulation. The Bank is under direct control from the Toyota Financial Services Corporation.

— The Toyota Bank, 01 issue is expected to receive A- rating from Fitch reflecting the creditworthiness of

the guarantee structure from Toyota Motor Finance (Netherlands) B.V., 3 notches higher than Russian

sovereign rating

Executive Summary

P.4

Toyota Motor Corporation

P.5

Toyota’s Global Business

P.6

Markets vehicles in over

170 countries/regions.

68 Manufacturing facilities in

27 countries/regions

OTHER

BUSINESSEES

Housing

Marine

Telecommunications

E-Business

Intelligent Transport

Services

Biotechnology &

Afforestation

Consumer Financing

Dealer Support &

Financing

Banking

Securities Services

Ancillary Products &

Services

AUTOMOTIVE

Design, Manufacturing,

Distribution

Automotive Business

46.2%

21.6%

6.2%

20.5%

5.5%

Vehicle production by region

Japan

North America

Europe

Asia

Other regions

— Over 45% of the production volume in 2015

came from Japan, followed by North America

(almost 22% of the vehicles produced) and

Asia ex-Japan (20.5%).

— However the proportion of overseas

production is steadily rising at the cost of

production in Japan.

Toyota Motor Corporation

– Production

P.7

FY 2015

3721 3940 4276 4687 4125

3448 3495

4422 4345

4805

0

1 000

2 000

3 000

4 000

5 000

6 000

7 000

8 000

9 000

10 000

2011 2012 2013 2014 2015

Vehicle production, thousands of units

Overseas

Japan

Toyota Motor Corporation

– Sales Structure

P.8

1913 2071 2279 2365 2154

5395 5281

6592 6751 6818

0

1 000

2 000

3 000

4 000

5 000

6 000

7 000

8 000

9 000

10 000

2011 2012 2013 2014 2015

Vehicle sales, thousands of units

Overseas

Japan

24.0%

30.3% 9.6%

16.6%

19.5%

Vehicle sales by region

Japan

North America

Europe

Asia

Other regions

— Over 30% of sales in financial year 2015

came from North America, while sales in

Japan, the major production region,

hardly reach 24%.

— The fall in Japanese sales is more than

compensated by overseas sales, the

Company well benefits from

geographical diversification.

FY 2015

468 356 1321 2292 2750

2,5% 1,9%

6,0%

8,9%

10,1%

0

500

1 000

1 500

2 000

2 500

3 000

2011 2012 2013 2014 2015

JPY, bln Operating income

Operating income

% of net revenues

Toyota Motor Corporation

– Financial Standing

P.9

18 994 18 584

22 064

25 692 27 235

0

5 000

10 000

15 000

20 000

25 000

30 000

2011 2012 2013 2014 2015

JPY, bln Net Revenues

408 284 962 1823 2173

3,9%

2,7%

8,5%

13,7% 13,9%

0

500

1 000

1 500

2 000

2 500

2011 2012 2013 2014 2015

JPY, bln Net income

Net Income

ROE

* All the data presented on the slide has been prepared in

accordance with US GAAP, year ended March 31

Toyota Financial Services

Corporation

P.10

Toyota Financial Services Worldwide

___________________________ Source: Toyota Financial Services Group Website

South Africa

Norway

Sweden

Russia

Finland

Kazakhastan

Spain Italy

France

UK

Denmark

Netherlands

Germany

Hungary

Czech

Slovakia Poland

China Korea Japan

Taiwan

Philippines India

Malaysia

Indonesia

Australia

New Zealand

Thailand Vietnam

USA

Mexico

Canada

Puerto Rico

Venezuela

Argentina

Brazil

Americas Europe/Africa Asia/Pacific

P.11

Toyota Financial Services in Europe

and Africa

TFSC operates in 16 countries in EAR …

… and additionally with TMF in the Netherlands as funding vehicle

TKG-Group

Norway

Sweden

Russia

Poland

France

Spain

Italy (Wholesale)

TFSUK-Group

Finland

Denmark

Czech

Slovakia

Hungary

South Africa

Italy (Retail)

Germany United Kingdom

Kazakhstan

P.12

Consolidated Performance (J-GAAP)

Year founded 2000

Number of employees* 9 463

Number of consolidated companies* 48

* Figures as of March 31, 2015

FY 2014 FY 2015

in million Yen in million USD in million Yen in million USD

Revenues 1.403.819 14.038 1.645.393 14.958

Operating Income 274.931 2.749 338.968 3.082

Net Income 193.690 1.937 235.090 2.137

TMC avg. exchange rate FY 2014: 100 JPY = 1 USD

TMC avg. exchange rate FY 2015: 110 JPY = 1 USD

Toyota Financial Services Worldwide

P.13

AO Toyota Bank - Organizational

Structure Motor Corporation

(Japan)

Toyota Kreditbank

GMBH (Germany)

Toyota Financial

Services

Corporation (Japan)

Toyota Leasing

GMBH (Germany)

AO Toyota Bank

(Russia)

100%

100%

100%

99.94% 0.06%

Toyota Motor

Finance

(Netherlands) B.V.

100%

Credit Support

Agreement

Credit Support Agreement

Guarantee

P.14

Toyota Motor Finance

(Netherlands) B.V

P.15

Toyota Motor Finance (Netherlands) B.V.

– Overview

Wholly-owned subsidiary of Toyota Financial Services Corporation which is a wholly-owned subsidiary of Toyota Motor

Corporation. Incorporated in the Netherlands laws on 3 August 1987.

The principal activity is to act as a group finance company for some of the TFSC’s consolidated subsidiaries.

TMF raises funds by issuing bonds and notes in the international capital markets and from other sources and on-lends to

those subsidiaries.

TMF also issues guarantees for debt issuances of certain subsidiaries for their local capital market funding.

<Lending Volume> <Guarantee Balance>

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

Mar '11 Mar '12 Mar '13 Mar '14 Mar '15

mln €

-

500

1,000

1,500

2,000

2,500

Mar '11 Mar '12 Mar '13 Mar '14 Mar '15

mln €

P.16

Toyota Motor Finance (Netherlands) B.V.

– Financial Summary

___________________________ Source: Toyota Motor Finance (Netherlands) B.V. 2015 AFS

(Euro ‘000)

FY2013 Actual

(’12/4 – '13/3)

FY2014 Actual

(‘13/4 – ‘14/3)

FY2015 Actual

(‘14/4 – ‘15/3)

Revenues 106,073 100,517 103,143

Operating Income 9,598 9,066 11,577

(Euro ‘000) FY2013 Actual

(’12/4 – '13/3)

FY2014 Actual

(‘13/4 – ‘14/3)

FY2015 Actual

(‘14/4 – ‘15/3)

Total Assets 5,357,472 6,270,915 7,834,149

Total Liabilities 5,241,619 6,141,989 7,664,432

Total Shareholder Equities 115,853 128,926 169,717

P.17

Toyota in Russia

P.18

— 108 Toyota and 48 Lexus authorized dealers and partners in 70 cities.

— Russia is one of the top-priority markets for Toyota. In Russia TMC

focuses on mass-premium segment for Toyota and luxury for Lexus,

introducing wide range of SUV’s and business sedans. Dealers’

network keeps top position in profitability vs other brands.

— In 2006 Toyota opened a factory producing Camry business-class

sedans in Saint Petersburgh. In 2015 TMC made additional investment

into expansion of factory premises and substantially increased

number of local operations.

— In 2015 Toyota sold more than 118K units (98K for Toyota and 20K for

Lexus) and kept 7.4% market share in Russia, even in sharply declining

market (-35% compared to 2014).

— AO Toyota Bank was founded in 2007 to implement programs of

lending to Lexus and Toyota clients and dealers.

— The Bank is headquartered in Moscow and operates under full banking

license through auto dealers network in all the cities of Toyota

presence.

Toyota in Russia

P.19

New car market overview

P.20

1 565

1 895

2 567

2 914

1 466

1 909

2 651

2 935

2 759

2 491

1 601

-

500

 1 000

 1 500

 2 000

 2 500

 3 000

 3 500

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

‘000 units Russian car market sales

___________________________ Source: www.aebrus.ru

Toyota and Lexus sales

OOO “Toyota Motor” – Sales

P.21

66

106

158

205

75 90

133

169 171 181

118

4.2%

5.6%

6.2%

7.0%

5.1% 4.7%

5.0%

5.7% 6.2%

7.3%

7.4%

0%

1%

2%

3%

4%

5%

6%

7%

8%

-

50

100

150

200

250

300

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Toyota & Lexus sales Market share (right)

‘000 units

— Despite the negative tendencies in the Russian car market Toyota market share

has been steadily rising, reaching 7.4% in 2015, making Toyota the 5th largest

car producer in the Russian market.

— According to Auto Stat, Toyota is one of the most profitable brands in Russia

and number one in terms of turnover.

___________________________ Source: www.aebrus.ru

— Despite the economic slowdown in Russia and

cyclical nature of automotive business Toyota

Bank managed to improve profitability in the last

years.

— In 2015 Net Interest Income rose by 9%, Equity

increased by 6% (+20% before dividends).

— Net Interest Margin increased from 5.3% up to

6.6% (+24%) while ROAA slightly decreased from

2.5% to 2.4%.

— ROAE varied between 13.6% and 16.1% during

the last 5 years depending on changes in equity

(capital injections or dividend payments).

P.22

24

36

9

40

81

2

52

01

8

58

16

6

50

12

2

2.0% 1.8% 1.8%

2.5% 2.4%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

0

10 000

20 000

30 000

40 000

50 000

60 000

2011 2012 2013 2014 2015F

RUB, mln Dynamics of Assets*

Assets

ROAA (right scale)

1 2

65

1 7

92

2 6

30

3 0

56

3 3

21

36

7

60

0

83

9

1 3

83

1 3

14

0

500

1 000

1 500

2 000

2 500

3 000

3 500

2011 2012 2013 2014 2015F

RUB, mln Net Interest Income and Net Profit

Net interest income

Net Profit

3 4

68

4 0

69

7 9

07

9 2

90

9 8

82

5.4% 4.5%

5.2% 5.3%

6.6%

13.6%

15.9%

14.0%

16.1%

13.7%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

18.0%

0

2 000

4 000

6 000

8 000

10 000

12 000

2011 2012 2013 2014 2015F

RUB, mln Equity, NIM and ROAE

Equity

NIM (right scale)

ROAE (right scale)

* All the data presented on the slide has been

prepared in accordance with IFRS

AO Toyota Bank – Credit Portfolio

76.22%

9.32%

14.19%

Credit Portfolio Structure as of 01.10.2015*

Auto loans

Bank loans

Corporateloans

Other

RUB

50.4bn

— The credit portfolio is dominated by consumer

auto loans, under which the collateral value

exceeds the loan size 120% on average. The other

major part of the portfolio are loans to auto

dealers.

— In 2015 the credit portfolio slightly deteriorated

with NPL 90+ reaching 1.9% of the credit portfolio,

the record high level for Toyota Bank, however

one of the best ratios in the industry. Rising NPL

is the consequence of portfolio “ageing” and a

decline in new loan issuance.

AO Toyota Bank – Credit Portfolio

P.23

89

717

845

959

390

1 1

31

1 8

72

1 7

87

0

200

400

600

800

1 000

1 200

1 400

1 600

1 800

2 000

2013 2014 6M2015 9M2015

RUB, mln NPL and Allowance for Doubtful Debt

NPL 90+

Allowance fordoubtful debt

* All the data presented on the slide has

been prepared in accordance with RAS

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

1.2%

1.4%

0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42

Sh

are

fro

m o

rig

inate

d c

red

it a

mo

un

t,

%

Month on balance (@ MOB)

NPL 91+ vintages (AMT) by origination year

2011 2012 2013 2014

P.24

801 837 779

858

989

-

100

200

300

400

500

600

700

800

900

 1 000

2011 2012 2013 2014 2015

Average RTL loan size

44 45 44 43 42

0

5

10

15

20

25

30

35

40

45

50

2011 2012 2013 2014 2015

Average RTL loan tenor RUB, ‘000 Months

— Decrease in numbers of RTL loans in 2015 was compensated by growth of Average loan size that

reached RUB 989 thousand, 15.3% rise compared to 2014.

— At the same time Average loan tenor stays largely intact. Reaching 45 months in 2012, the average

tenor fell to 42 months by 2015.

— The share of RTL currency RTL loans decreased from 1.9% to 0.3% during last 3 years.

AO Toyota Bank

– Credit Portfolio

P.25

AO Toyota Bank

– Funding Sources

0

500

1 000

1 500

2 000

2 500

3 000

3 500

4 000

Feb-16 May-16 Aug-16 Nov-16 Feb-17 May-17 Aug-17 Nov-17 Feb-18 May-18 Aug-18 Nov-18 Feb-19 May-19 Aug-19 Nov-19 Feb-20

Debt Maturity profile

Maturity RUB

Maturity USD

RUB, mln.

— The Bank benefits from the Group finance, however

there is a trend towards lowering the dependence. In

2015 the Group’s share was at 45-50% level.

— AO Toyota Bank is to repay RUB 2.3bn in February

and RUB 3.6bn in March, the loans will be refinanced

through interbank borrowing and bond issue. 10.3

18.6 23.3 25.7

19.2 6.2

9.3

8.8 8.9

5.0 3.2

8.3

10.9 13.3

13.8

0.9

0.2

0.5

0.2

0.6

0

5

10

15

20

25

30

35

40

45

50

2011 2012 2013 2014 2015

Group ST bank loans LT bank loans Others (deposits, CA)

RUB, bln. Funding split

Investment

Considerations

P.26

Issuer Moody's S&P Fitch

Japan A1 A+ A

Toyota Motor Corporation Aa3 AA- A

Toyota Motor Finance

(Netherlands) B.V. Aa3 AA- A

AO Toyota Bank, 01

(expected) - - A-

Honda A1 A+ A

Volkswagen A3 BBB+ -

Daimler A3 A- -

Hyundai Baa1 A- BBB+

Credit Rating Profile

P.27

— Toyota Motor Corporation credit ratings are the highest in the industry.

— Ratings from Moody’s and S&P are one notch higher than those of Japan, rating

from Fitch in line with the sovereign rating.

— AO Toyota Bank, 01 issue is expected to receive a rating from Fitch at A- level, 3

notches higher than Russian sovereign level.

Credit Support Agreement (CSA) was concluded between Toyota

Motor Corporation (TMC) and Toyota Financial Services Corporation

(TFSC) and between Toyota Financial Services Corporation and

Toyota Motor Finance (Netherlands) B.V. (TMF)

Under the terms of the CSA, TMC will provide sufficient liquidity for

the obligations of bonds, debentures, and commercial papers of both

subsidiaries, TFSC and TMF. TMC will also provide sufficient liquidity

for TMF’s guarantee obligations.

Guarantee Structure

P.28

Guarantee

Toyota Motor Corporation

Toyota Financial Services Corp

Toyota Motor Finance (Netherlands)

AO Toyota Bank (Russia)

Credit Support

Agreement

Credit Support

Agreement

TMC

TFSC

TMF

TBR

100%

Ownership

100%

Ownership

The guarantee provided to AO Toyota Bank is governed by the Dutch

law and is unconditional and irrevocable. The guarantee provides

punctual payment for the bondholders of all sums payable by Toyota

Bank. For the guarantee of the medium‐term debentures, the

obligations of AO Toyota Bank rank at least pari passu with all other

present and future unsecured and unsubordinated indebtedness of

TMF. The guarantee cannot be amended or terminated without the

consent of both the bondholders’ representatives and the Guarantor,

TMF.

Indicative Terms and Conditions

P.29

Issuer AO Toyota Bank

Guarantor Toyota Motor Finance (Netherlands) B.V.

Guarantor credit rating Aa3 (Moody’s), AA- (S&P), A (Fitch)

Expected issue rating A- (Fitch)

Financial instrument Non-convertible documentary RUB-denominated classical bonds with obligatory centralized

depositary

Placement February-March 2016

Issue size RUB 3.0bn

Tenor 3 years

Put option In 2 years at par

Coupon type Fixed

Coupon period Semiannual

Nominal value RUB 1 000

Placement price 100% of face value

Type of placement Public offering on MOEX

First coupon estimation

mechanism Book-building

Secondary trading MOEX or OTC

Lombard list The issue complies with the CBR Lombard list requirements

Depository NSD (National Settlement Depository)

Joint Lead Managers Raiffeisenbank and ROSBANK

— AO Toyota Bank is the subsidiary of Toyota Motor Corporation, the

leading automobile producer, with credit rating well above Russian

sovereign rating and even Japanese.

— On standalone basis the Bank demonstrates improving performance

and strong credit fundamentals, well above the market average.

— The issue is guaranteed by Toyota Motor Finance B.V. rated at TMC

level by Moody’s (Aa3), S&P (AA-) and Fitch (A) which reflects the

sustainability of Credit Support Agreements, the Guarantee has been

executed under Dutch law.

— The issue is in accordance with the CBR Lombard List requirements

and requirements for pension funds investment.

— The issue credit profile exceeds that of the Russian Federation and still

offers substantial credit premium to the OFZ curve on the after tax

basis.

Investment Considerations

P.30

Appendix

P.31

Credit Support Structure

Toyota Motor Corporation (TMC)

Toyota Financial Services Corporation (TFSC)

TBP

(Poland)

TFSSA

(S. Africa)

TLT

(Thailand)

TCAPM

(Malaysia)

Guarantee

TLP

(Poland)

TMCC

(USA)

TLG

(Germany)

TKG

(Germany)

TFSUK

(UK)

TFNZ

(New Zealand)

TFA

(Australia)

TFC

(Japan)

TMF

(Netherlands)

TCPR

(Puerto Rico)

TCCI

(Canada)

Credit Support Agreement

Credit Support Agreement

TBR

(Russia)

<Sales Finance Companies> <Group Finance

Company>

32