Financial Results Presentation

FYFY20201010 ThirdThird QuarterQuarter FinancialFinancial ResultsResults

MITSUBISHI Concept Global Small

Mitsubishi Motors Corporation February 2, 2011 1 FY2010 3Q Results Summary (9 month cumulative, vs. FY09 3Q Actual) IncreasedIncreased SalesSales VolumeVolume // ImprovedImproved EarningsEarnings - Even within tough environment of progressing high Yen appreciat ion - (100 million yen/000 units) FY09 3Q FY10 3Q (Apr-Dec ’09) (Apr-Dec ’10 ) Change Actual Actual Revenue 9,521 13,109 ＋3,588

Operating Income ---198 130 ＋328

Ordinary Income ---212 114 ＋326

Net Income ---257 ---22 ＋235

Sales Volume (retail) 689 807 ＋118

Sales Volume (wholesale ) 527 746 ＋219

Note: Sales volume figure excludes OEM volume. Sales volume of FY10 3Q refers to preliminary results. 2 FY2010 3Q Regional Sales Volume (9 month cumulative, vs. FY09 3Q Actual)

JapanJapan NorthNorth AmericaAmerica EuropeEurope AsiaAsia && othersothers TotalTotal FY10 3Q Actual vs. FY09 3Q Actual + 5 ± 0 + 27 + 86 +118 (+5%) ( －－－ ) (+20%) (+23%) (+17%) (000 units, Retail base) 807 464 689 212 71 (26%) 378 KD & 176 Middle 64 PPC (26%) East & 74 158 Africa Latin 51 131 America 52 114 119 47 Australia Russia & & NZ 46 117 595 Ukraine 41 Built-up 513 (74%) 25 Vehicles Central ASEAN 73 (74%) Minicars 72 74 66 66 Europe 20 Canada & others & 24 Mexico 26 24 North 161 Western 86 Asia 133 Registered Europe 70 Vehicles 42 45 U.S. 40 42

FY09 3Q FY10 3Q FY09 3Q FY10 3Q FY09 3Q FY10 3Q FY09 3Q FY10 3Q FY09 3Q FY10 3Q Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Note: Sales volume figure excludes OEM volume. Sales volume of FY10 3Q refers to preliminary results. 3 Analysis of Operating Income (9 month cumulative, vs. FY09 3Q Actual)

(100 million yen) FY09 3Q FY10 3Q ＋ Actual ＋328328 Actual - 15 By region: Sales Japan + 52 Expenses North America + 37 Europe + 135 - 287 - 17 Others + 317 +106 Others +541 130 Forex Combined impact of raw material price -198 / cost reduction Forex booking rate, in yen Main items: FY09 3Q FY10 3Q Vol/Mix USD 93 87 ・ R&D expenses - 32 EUR 133 113 ・ Improved P/L of +15 Japanese subsidiaries AUD 78 80 and others 4 Ordinary and Net Income (9 month cumulative, vs. FY09 3Q Actual)

(100 million yen)

FY09 3Q FY10 3Q Change (Apr-Dec’09) (Apr-Dec’10) Actual Actual

Operating Income --- 198 130 +328

Non-operating ------Income 14 16 2 Main items: --- ・ Forex -37 Ordinary Income 212 114 +326 ・ Equity in earning + 30 of affiliates

Extraordinary Income --- 45 --- 136 --- 91 & Tax Main items: ・ Extraordinary -34 Net Income --- 257 --- 22 +235 profit/loss ・ Corporate tax, -54 etc. 5 Balance Sheet (vs. end of FY09)

(100 million yen)

Mar. 2010 Dec. 2010 Change

Total Assets 12,587 12,591 + 4

Cash & cash deposits 2,643 2,902 + 259

Accounts receivable 1,214 926 --- 288

Inventory 1,839 1,999 + 160 Total Liabilities 10,242 10,386 +144

Accounts payable 2,650 2,980 + 330

Interest-bearing debt 3,927 3,686 --- 241 Net Assets 2,345 2,205 --- 140 6 FY2010 Regional Sales Volume Forecast (vs. Oct 28 FY10 Forecast)

JapanJapan NorthNorth AmericaAmerica EuropeEurope AsiaAsia && othersothers TotalTotal Feb 2 FY10 Forecast vs. Oct 28 FY10 Forecast - 4- 7 + 10 + 1 ± 0 (000 units, Retail base) 1,124 1,124 631 632 4Q 317 Plan

168 2H Plan 597 220 334 210 3Q 280 Actual 167 179 175 62 167 56 4Q 112 2H 90 Plan Plan 60 104 97 30 3Q Actual 1H 527 52 7 1H 61 31 297 297 Actual Actual 1H 1H 23 98 98 89 89 Actual Actual 43 43

Oct 28 Feb 2 Oct 28 Feb 2 Oct 28 Feb 2 Oct 28 Feb 2 Oct 28 Feb 2 Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast

Note: Sales volume figure excludes OEM volume. Sales volume of FY10 3Q refers to preliminary results. 7 FY2010 Results Forecast Summary (vs. Oct 28 FY10 Forecast)

BusinessBusiness ResultResult TargetsTargets RemainRemain UnchangedUnchanged (100 million yen/000 units)

FY10 FY10 FY10 【 Reference 】 Apr 27 Forecast Oct 28 Forecast Feb 2 Forecast FY09 Actual Revenue 19,000 19,000 19,000 14,456 Operating Income 450 450 450 139 Ordinary Income 300 300 300 130 Net Income 150 150 150 48

Sales Volume (Retail) 1,121 1,124 1,124 960 Sales Volume (wholesale) 1,068 1,070 1,070 805

FY10 1H 2H FY10 4Q FY10 Breakdown of change Assumed Forex Rate USD: 90 89 82 85 82 85 (vs. Oct 28 forecast) EUR: 120 114 112 113 112 113 ・Volume/Mix - 40 AUD: 82 80 80 80 80 80 ・Cost reduction + 40 and others Note: Sales volume figure excludes OEM volume. 8 Summary Consolidated Results for 3Q FY2010 IncreasedIncreased SalesSales VolumeVolume // ImprovedImproved EarningsEarnings - Even within tough environment of progressing high Yen appreciat ion -

Retail sales volume: 807,000 unit, led by ASEAN, North Asia and Europe (17% up YoY) Wholesale sales volume: 746,000 unit, major increase in Europe and ASEAN (42% up YoY) Revenue: 1.3 trillion yen, by increased sales volume (38% up YoY) Operating Income: 13.0 billion yen, affected by increased sales volume and cost reduction (32.8 billion yen up YoY)

Ordinary Income: 11.4 billion yen (32.6 billion yen up YoY) Net Income: - 2.2 billion yen (23.5 billion yen up YoY) FY 2010 Full-year Forecasts BusinessBusiness ResultResult TargetsTargets RemainRemain UnchangedUnchanged

Sales volume plan (retail:1,124,000 units, wholesale: 1,070,000 units) : Total remains unchanged, with adjustments in each region. Business result targets remain unchanged : Revenue target of 1.9 trillion yen, Operating income target of 45 billion yen, Net income target of 15 billion yen 9

AdditionalAdditional InformationInformation

Outlander Sport for U.S. 10 FY2010 3Q Regional Sales Volume (by quarter, vs. FY09 3Q Actual)

JapanJapan NorthNorth AmericaAmerica EuropeEurope AsiaAsia && othersothers TotalTotal FY10 3Q Actual vs. FY09 3Q Actual + 5 ± 0 + 27 + 86 + 118 (+5%) ( －－－ ) (+20%) (+23%) (+17%) (000 units, Retail base) 807 464 689 280 3Q 378 167 244 158 149 131 119 114 60 270 2Q 38 145 30 232 3Q 37 117 66 66 44 52 51 2Q 46 20 23 152 213 257 1Q 25 22 112 49 46 1Q 31 38 21 21 FY09 3Q FY10 3Q FY09 3Q FY10 3Q FY09 3Q FY10 3Q FY09 3Q FY10 3Q FY09 3Q FY10 3Q Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual

Note: Sales volume figure excludes OEM volume. Sales volume of FY10 3Q refers to preliminary results. 11 FY2010 3Q Results Summary (by quarter) (100 million yen/000 units)

FY10 1Q FY10 2Q FY10 3Q FY10 3Q (Apr-Jun ’10) (Jul-Sep ’10) (Oct-Dec ’10) (Apr-Dec ’10) Cumulative Revenue 4,037 4,610 4,462 13,109

Operating Income ---45 114 61 130

Ordinary Income ---58 128 44 114

Net Income ---118 69 27 ---22

Sales Volume (retail) 257 270 280 807

Sales Volume (wholesale) 228 267 251 746

Note: Sales volume figure excludes OEM volume. Sales volume of FY10 3Q refers to preliminary results. 12 FY2010 3Q Regional Results (9 month cumulative, vs. FY09 3Q Actual)

(100 million yen) FY09 3Q FY10 3Q Change (Apr-Dec '09) (Apr-Dec '10) Actual Actual Revenue 9,521 13,109 +3,588 Japan 2,497 2,595 +98 North America 1,293 1,435 +142 Europe 1,606 3,468 +1,862 Asia & Others 4,125 5,611 +1,486

Operating Income - 198 130 +328 Japan - 106 17 +123 North America - 236 - 223 +13 Europe - 49 - 230 - 181 Asia & Others 193 566 +373 13 FY2010 Regional Sales Volume Forecast (vs. Oct 28 FY10 Forecast)

JapanJapan NorthNorth AmericaAmerica EuropeEurope AsiaAsia && othersothers TotalTotal Feb 2 FY10 Forecast vs. Oct 28 FY10 Forecast - 4- 7 + 10 + 1 ± 0 (000 units, Retail base) 1,124 1,124 631 632

Middle KD & 282 287 East & 94 PPC （（（25 ％）％）％）（（（26 ％）％）％） Africa 105 Latin 85 220 America 80 210 Australia & NZ 74 71 179 175 Russia & 65 Ukraine 62 ASEAN 166 Built-up 842 837 Central 161 Vehicles Europe 33 （（（75 ％）％）％）（（（74 ％）％）％） Minicars 31 109 108 104 97 & others Canada & Mexico 37 34 Western North Europe 117 122 Asia 211 216 Registered Vehicles 70 67 U.S. 67 63

Oct 28 Feb 2 Oct 28 Feb 2 Oct 28 Feb 2 Oct 28 Feb 2 Oct 28 Feb 2 Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast

Note: Sales volume figure excludes OEM volume. 14 FY2010 Regional Sales Volume Forecast (vs. FY09 Actual)

JapanJapan NorthNorth AmericaAmerica EuropeEurope AsiaAsia && othersothers TotalTotal Feb 2 FY10 Forecast vs. FY09 Actual + 4 + 9 +51 +100 +164 (+3%) (+11%) (+30%) (+19%) (+17%) (000 units, Retail base) 1,124 632 960 287 532 94 （（（26 ％）％）％） KD & 243 Middle PPC East & 109 85 （（（25 ％）％）％） 220 Africa 71 Latin 69 171 175 169 65 America Australia & NZ 62 Russia & 837 Ukraine 48 166 837 33 Built-up 717 （（（74 ％）％）％） Minicars 106 108 97 Central ASEAN 105 Vehicles Europe 26 （（（75 ％）％）％） 88 & others Canada & 34 34 Mexico 122 North 216 Western Asia 187 Registered Europe 95 Vehicles 65 67 U.S. 54 63

FY09 FY10 FY09 FY10 FY09 FY10 FY09 FY10 FY09 FY10 Actual Forecast Actual Forecast Actual Forecast Actual Forecast Actual Forecast Feb 2 Feb 2 Feb 2 Feb 2 Feb 2 Note: Sales volume figure excludes OEM volume. 15 FY2010 Regional Sales Volume Forecast (vs. FY09 Actual)

FY09 FY10 FY09 FY10 FY09 FY10 FY09 FY10 FY09 FY10 Actual Forecast Actual Forecast Actual Forecast Actual Forecast Actual Forecast Feb 2 Feb 2 Feb 2 Feb 2 Feb 2 Note: Sales volume figure excludes OEM volume. 16 FY2010 Regional Forecast (vs. FY09 Actual and Past Forecasts) (100 million yen)

FY09 FY10 FY10 FY10 Actual Apr 27 Forecast Oct 28 Forecast Feb 2 Forecast

Revenue 14,456 19,000 19,000 19,000 Japan 3,685 4,100 4,050 3,950 North America 1,754 2,100 2,000 1,950 Europe 2,692 4,900 4,600 5,100 Asia & Others 6,325 7,900 8,350 8,000

Operating Income 139 450 450 450 Japan -12 60 90 90 North America -282 -270 -320 -300 Europe 8 -80 -250 -240 Asia & Others 425 740 930 900 17 Analysis of Operating Income (vs. FY09 Actual)

(100 million yen) FY10 FY09 ＋＋311 Actual 311 Forecast Feb 2 - 40

Sales By region: Expenses Japan +40 -350 -129 North +50 America +590 +240 Europe +150 Others Others +350 Forex Combined impact of raw material price 450 Forex booking rate, / cost reduction in yen Vol/Mix FY09 FY10 Main Items: 139 USD 92 85 ・ Indirect labor cost -105 EUR 130 113 ・ R&D expenses -24 AUD 79 80 and others 18 Activities for the Popularization of the i-MiEV

JapanJapan “Spreading i-MiEV to the World” Fair at the HQ Showroom InitiatedInitiated DevelopmentDevelopment ofof (Jan 31 st ～ Feb 6th ) SmartSmart GridGrid SystemSystemwith with EVEV

StartedStarted TrialTrial SalesSales withwith ElectronicElectronic RetailersRetailers

i-MiEVi-MiEV ProductionProduction ReachedReached 5,0005,000 UnitsUnits Displaying various kinds of the i-MiEV family, including variety of colorfully wrapped “i-MiEVs ”, European-spec “i- HeldHeld “Spreading“Spreading i-MiEVi-MiEV toto thethe MiEV ”, Concept Car “i-MiEV Sport ”, Mitsuoka Motors “Like ”, Peugeot “iOn ”, World”World” Fair Fair atat thethe HQHQ ShowroomShowroom Citroën “C-Zero ” as well as the field test vehicle of “MINICAB-MiEV ”(Feb 3th ～6th ). 19 “My i-MiEV ” Wrapping Campaign

※※※Nov. 2010 ～～～ Jan 31 st 2011 20 Activities for the Popularization of the i-MiEV

GlobalGlobal

ii-MiEV-MiEV Goes Goes OnOn SaleSale inin 1515 EuropeanEuropean CountriesCountries

AgreedAgreed withwith thethe ThaiThai GovernmentGovernment onon JoinJoin StudyStudy forfor TestingTesting ofof thethe ““ii-MiEV”-MiEV ” forfor thethe PopularizationPopularization ofof EVEV inin ThailandThailand North American spec “i-MiEV ”

WorldWorld PremierPremier ofof NorthNorth AmericanAmerican ウェリントン市での『ｉ-MiEV』セレモニー VersionVersion ““ii-MiEV-MiEV ””at at thethe LALA AutoAuto ShowShow

SignsSigns CooperationCooperation AgreementAgreement toto PromotePromote EVsEVswith with thethe SingaporeSingapore GovernmentGovernment

Singaporean Economic Development Board Director Leo Yip(L) with MMC president Osamu Masuko(R) 21 Japanese Eco-car Tax Reduction-compliant Lineup

ElectricElectric VehicleVehicle Tax- 777555% Exempt Reduction

Clean Air Edition (2WD) Very (2WD)

CleanClean DieselDiesel PassengerPassenger VehicleVehicle CHAMONIX (4WD)

20M (2WD)

15G (2WD)

SUPER EXCEED (2WD)

555000% Vivace+navi (2WD) Reduction

M (2WD) GS (2WD)

G (2WD) SPORT (2WD) 22

All statements herein, other than historical facts, contain forward-looking statements and are based on MMC’s current forecasts, expectations, targets, plans, and evaluations. Any forecasted value is calculated or obtained based on certain assumptions. Forward-looking statements involve inherent risks and uncertainties. A number of significant factors could therefore cause actual results to differ from those contained in any forward-looking statement. Significant risk factors include:

•Feasibility of each target and initiative as laid out in this presentation; •Fluctuations in interest rates, exchange rates and oil prices; •Changes in laws, regulations and government policies; and •Regional and/or global socioeconomic changes.

Potential risks and uncertainties are not limited to the above and MMC is not under any obligation to update the information in this presentation to reflect any developments or events in the future.

If you are interested in investing in Mitsubishi Motors, you are requested to make a final investment decision at your own risk, taking the foregoing into consideration. Please note that neither Mitsubishi Motors nor any third party providing information shall be responsible for any damage you may suffer due to investment in Mitsubishi Motors based on the information shown in this presentation.