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Nissan ARIYA: Coming 2021 Nissan Motor Acceptance Corporation ABS East December 2020 Disclaimer This presentation (the “Presentation”) is based on information provided by Nissan Motor Acceptance Corp. (“NMAC” or the “Company”) to the best of its knowledge. This Presentation may not be photocopied, reproduced, or distributed to others at any time without the prior written consent of the Company. This Presentation and other information made available in connection with the evaluation of the Company is not all-inclusive and does not contain all of the information that you may consider material or desirable in evaluating the Company. This Presentation contains forward-looking statements within the meaning of the federal securities laws. Statements that are not historical facts, including statements about NMAC’s beliefs and expectations, are forward-looking statements. Forward- looking statements include, but are not limited to, statements preceded by, followed by or that include the words “may,” “could,” “would,” “should,” “believe,” “expect,” “anticipate,” “plan,” “estimate,” “target,” “project,” “intend” or similar expressions. These statements may include, among others, statements regarding NMAC’s or Nissan Motor Co., Ltd.’s (Nissan Motor) expected business outlook, anticipated financial and operating results, business strategy and means to implement the strategy, objectives, the amount and timing of future capital expenditures, financing plans, working capital needs and sources of liquidity. Forward-looking statements are only predictions and are not guarantees of performance. These statements are based on management’s beliefs and assumptions, which in turn are based on currently available information. These assumptions could prove inaccurate. Forward-looking statements also involve risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Many of these factors are beyond NMAC’s ability to identify, control or predict. Undue reliance should not be placed on any forward-looking statements, which are based on current expectations. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them in light of new information or future events. Nissan Motor’s and NMAC’s fiscal years end on March 31. References to “FY19” are to the fiscal year ended March 31, 2020 and references to “FY20” are to the fiscal year ending March 31, 2020. References in this Presentation to “$” are to U.S. dollars and references to “¥” or “Yen” are to Japanese Yen. 1 . Nissan Motor Co. Limited ("NML") Performance Update . Nissan Motor Acceptance Corp (“NMAC”) Overview . ABS Performance Update . Treasury and Liquidity Update NML Introduction Company Highlights Globally Recognized Brands . Nissan Motor Co., Ltd is a leading auto manufacturer reaching global markets with FY19 revenue of over $100bn, and sales of 5.52mm units . Established in Yokohama in 1933 . Market Capitalization: ¥2,079B*1 . Diverse product line includes electric vehicles, compact cars, sedans, sports cars, minivans, SUVs, pickup trucks, LCVs, and light “Kei” cars . The strategic partnership as a result of the Renault- Nissan-Mitsubishi Alliance offers Nissan increased economies of scale and the brand benefit of being a part of Fiscal Year 2020 Sale Units by Region*2 one of the world’s leading automotive groups Others Japan . NML sales are supported by captive finance entities that 11% 11% provide sales finance services and solidify the automaker’s Europe competitive position 9% North . Corporate Ratings (Long term / Short term / Outlook) America Moody’s: (Baa3 / P3 / -) 28% S&P: (BBB- / A-3 / -) China *1: Market Capitalization as of November 30th, 2020 41% *2: For the First Half ended September 30th, 2020 3 Nissan Motor FY20 Sales Performance 4 Nissan Motor FY20 Financial Performance (TSE REPORT BASIS — CHINA JV EQUITY BASIS) 5 US Business Performance 6 US Business Performance – Continued 7 Maintaining Product Momentum . Improve net revenue per unit while maintaining steady market share . Reduce sales incentives and target improved quality of business Steady Market Share - Retail Sales Volume Enhanced Model Lineup CUV & Truck All-new Ariya - EV Younger Portfolio Age Coming spring 2021…All-new Infiniti QX55 https://www.infinitiusa.com/infiniti-news/blog/infiniti-qx55-crossover-coupe.html 8 . Nissan Motor Co. Limited ("NML") Performance Update . Nissan Motor Acceptance Corp (“NMAC”) Overview . ABS Performance Update . Treasury and Liquidity Update . 10 Market Performance 10.0% 20% 17.2% 9.0% 15% 14.3% 8.0% 14.1% 12.5% 7.0% 6.2% 10% 9.4% 6.0% 6.2% 5.0% 4.4% 5% 4.2% 4.1% 3.4% 4.0% 2.2% 4.2% 3.0% 0% 11 Volume Trends New Vehicle Penetration Contracts Outstanding 2,601 2,511 2,477 2,369 70% 2,246 64% 63% 1000 x 2,067 58% 57% 52% FY15 FY16 FY17 FY18 FY19 FY20 1H FY15 FY16 FY17 FY18 FY19 FY20 1H (THOUSANDS) 12 NMAC Managed Assets NMAC’s portfolio has three major types of revenue generating assets: loan, lease, and commercial loans to dealers $61.4 $62.7 $59.1 $56.8 $10.0 $10.7 $9.8 $51.5 $9.2 $7.8 $46.0 $5.7 $21.3 $22.9 $19.6 $22.1 $20.2 $18.4 $28.0 $29.4 $29.8 $27.2 $23.5 $21.9 FY15 FY16 FY17 FY18 FY19 FY20 1H Loan Lease Commercial 13 Retail Loan Origination Trends NMAC continues to maintain a high quality of retail loan bookings Retail Loan Portfolio New Bookings - Retail Tier Distribution as of September 30th (660+ FICO) 47% 89% 85% 81% 81% 80% 81% 10% 9% 8% 8% 7% 5% 4% 2% 14 Retail Loan Origination Characteristics APR Distribution Weighted Average FICO FY16 FY17 FY18 FY19 FY20 1H FY15 FY16 FY17 FY18 FY19 FY20 1H < 2.0% 2.0% - 3.99% >= 4.0% Weighted Average FICO Weighted Average Original Term New vs. Near-New/Used FY16 FY17 FY18 FY19 FY20 1H FY16 FY17 FY18 FY19 FY20 1H Weighted Average Original Term New Near-New/Used 15 Average Loan Principal Outstanding & Net Losses $29.3 $28.2 $27.9 $24.9 $22.1 1.61% 1.12% 1.37% 1.48% 1.12% FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 1H Avg. Principal Amount Outstanding ($ in Billions) Net Losses as a % of Avg. Principal Outstanding 16 Lease Origination Trends NMAC continues to maintain a high quality of lease bookings Lease Portfolio New Bookings - Lease Tier Distribution as of September 30th (660+ FICO) 61% 90% 89% 88% 87% 85% 9% 9% 6% 5% 4% 2% 1% 3% 17 Average Lease Principal Outstanding & Net Losses $21.9 $21.8 $20.6 $20.6 $18.5 0.65% 0.47% 0.59% 0.50% 0.50% FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 1H Avg. Principal Amount Outstanding ($ in Billions) Net Losses as a % of Avg. Principal Outstanding 18 Lease Recovery vs. Base Residual . Portfolio terminations including payoffs at full contract, credit/repo’s, and auction sales netted 3.50% (Nissan: 4.66%, Infiniti: 1.09%) vs. base residual during the first quarter . Primary drivers of NMAC residual trend: . Normalization of used car market . Consistent performance amongst high-volume models – Rogue, Altima, Sentra . Lower industry inventory levels have led to a sharp recovery following pandemic lockdowns 5% 4% 3.50% 3.83% 3% 3.54% 2% 1% 0% 0.56% -1% -0.39% -0.36% -1.14% -2% -1.34% -3% -2.37% -2.29% -4% -5% FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 Q2 19 Remarketing Current State Overview Industry Current State . Used car values have experienced a “V-Shaped” recovery since falling in April . Values after June have exceeded all 3rd party forecasts; many models are experiencing recovery values at all time highs . Auction inventory levels are approaching multi-year lows, as demand has outweighed supply Actions Taken . Implemented an aggressive sales volume strategy resulting in record sales in July . Marshalling vehicles from the northeast to the South, Central, and Midwest regions to spread supply and increase recovery values . Created a dedicated resource to grow upstream sales channels . Transitioned to a new pricing vendor which uses additional market data which should lead to more accurate pricing . Eliminated physical auction closed sales to allow more buyers the opportunity to bid/buy 20 Floorplan Penetration & Dealer Count Dealer Penetration Floorplan Dealer Count 703 703 697 690 55% 54% 54% 54% 50% 47% 636 597 FY15 FY16 FY17 FY18 FY19 FY20 Q2 FY15 FY16 FY17 FY18 FY19 FY20 Q2 21 Average Floorplan Receivables & Net Losses $9.0 $8.0 $7.6 $7.3 $6.9 $7.0 $6.8 $6.1 $6.0 $5.0 $4.4 $4.0 $3.0 $2.0 $1.0 0.42% 0.02% 0.00% 0.13% 0.07% 0.09% $0.0 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 Q2 Avg. Principal Amount Outstanding ($ in Billions) Net Losses as a % of Avg. Principal Outstanding 22 . Nissan Motor Co. Limited ("NML") Performance Update . Nissan Motor Acceptance Corp (“NMAC”) Overview . ABS Performance Update . Treasury and Liquidity Update Cumulative Net Credit Losses – Retail Loan ABS . Current outstanding public transactions . Strong performance due to prime asset quality . Recent transactions have an average FICO of 760+ 2.50% 2.25% 2.00% Average Rating Agency Net Credit Loss Expectation for NAROT 20-B 1.75% 1.50% 1.25% 1.00% 0.75% 0.50% 0.25% 0.00% 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57 59 (Number of Months Since Closing) 17-A 17-B 17-C 18-A 18-B 18-C 19-A 19-B 19-C 20-A 20-B 24 Cumulative Net Credit Losses – Lease ABS .