Ford Motor Company (F) investor relations material

Q2 operating performance

• Q2 2026 revenue $48.3B, down 4% YoY; adjusted EBIT $2.5B, up 17%, with a 5.2% margin; adjusted FCF $2.1B.

• H1 revenue $91.5B, up 1% YoY; adjusted EBIT $6.0B, up 90%, with a 6.5% margin; adjusted FCF $0.2B and adjusted EPS $1.08.

• Q2 segment EBIT: Ford Blue $1.1B, Ford Model e loss $0.9B and Ford Pro $1.7B; aluminum costs and temporary alternative sourcing weighed on results.

• Cash balance $22.3B and liquidity $43.4B at Q2 2026; full-year material and warranty cost reductions targeted at $1B.

Ford Credit performance and funding

• Q2 EBT $757M, up $112M YoY, supported by financing margin improvement; U.S. retail loss-to-receivables reflected quarterly seasonality and auction values were stable YoY.

• Net receivables decreased $0.5B YoY; operating leases were 19% of the total, up 3 ppts YoY.

• Net liquidity $27.4B and financial statement leverage 9.4x, within the 9:1–10:1 target range.

• Public issuance reached $27B YTD through Oct. 16, 2026; FY 2026 funding forecast was $26B–$31B as of July 28.

U.S. retail securitization

• 1H 2026 retail originations decreased YoY, primarily from lower subvened-APR contracts; financing share remained flat at 36%.

• Publicly registered retail securitization has operated since 1989, with more than 100 transactions; widely distributed pools have included contracts with original terms up to 84 months since 2020.

• Origination uses proprietary scoring, established purchasing guidelines and risk factors including affordability, LTV, FICO score and contract term; analyst decisions are regularly reviewed.

• Retail notes use a senior/subordinate sequential-pay structure; initial Class A hard credit enhancement is 5.25%, including subordination and a reserve account.