TRUCKS GAIN MOMENTUM FUELED BY MIDSIZE INTEREST & ECONOMIC CONDITIONS Truck share of shopper attention is ahead year-over-year and demonstrates a recent upward trend, aided by favorable economic conditions and increased interest in Midsize Truck product offerings. Share % Change 2015 VS 2014 GAS PRICES -29% +13% Truck SHARE OF TRAFFIC +3% HOUSING STARTS +10% Truck Share Gains on KBB and Autotrader Driven Significantly By Midsize Truck Interest, Midsize Now Claims Larger Share of Overall Truck Traffic Truck segments Y/Y share growth 2015 MIDSIZE % of TRUCK TRAFFIC Truck segments Y/Y share growth 2015 MIDSIZE % of truck TRAFFIC +53% Y/Y +36% Y/Y Midsize +58% Midsize +54% RESEARCH ACTIVITY shopping ACTIVITY Fullsize -10% Fullsize +7% KBB & Autotrader New Car Traffic, Jan 2014 – Dec 2015 Gas Prices: EIA.gov, Jan 2014 – Dec 2015 Housing Starts: Census, Jan 2014 – Dec 2015

THE RISE IN MIDSIZE TRUCKS GM RE-ENTRIES & TACOMA REDESIGN BOOST MIDSIZE SEGMENT Midsize truck SHARE OF TOTAL NEW CAR TRAFFIC The Last Time These Four Trucks Were At Play Versus Now… Colorado & Canyon re-enter 2016 redesigned Tacoma introduced Domestic/GM Import/Japanese Colorado and Canyon have a stronger presence now (compared to the last time they were in production). Share of Midsize Truck Shopping GM Re-Entry Shakes Up Rivals; Tacoma Quickly Recovers, Gains Additional Momentum from Redesign model SHARE OF MIDSIZE TRUCK SEGMENT Colorado Canyon Tacoma Frontier RESEARCH ACTIVITY Shopping ACTIVITY Colorado & Canyon re-enter 2016 redesigned Tacoma introduced Colorado & Canyon re-enter 2016 redesigned Tacoma introduced KBB.com & Autotrader New Car Traffic, Monthly Averages (Jul 2014 – Dec 2015)

HEAVILY BUT NOT EXCLUSIVELY IN-SEGMENT INTEREST IN MIDSIZE TRUCKS HEAVILY BUT NOT EXCLUSIVELY IN-SEGMENT TRADE-IN midsize truck buyers TOP 5 Trade-in VEHICLES increase in midsize truck sales 2015 vs. 2014 +17% Attraction to midsize trucks comes from multiple segments outside of trucks (primarily SUVs and small cars). However, strong in-segment trade-ins along with high in-segment consideration and declining interest from other segment owners suggest demand for midsize trucks still lies heavily within the segment. “I purchased/leased a midsize truck in 2015, what did I trade in?” sold of the trade-ins are trucks half nearly NEARLY A THIRD of the trade-ins are small cars and SUVs Shoppers of which segments most often consider Midsize Trucks? Has shopping activity shifted among vehicle owners who are considering a trade-in for a Midsize Truck? Nearly half of used midsize truck shoppers are considering a new midsize truck, far outpacing consideration from other segment shoppers. Interest from midsize truck owners has increased since last year, while interest from owners of other vehicles has declined. average decline in midsize truck shopping from owners of vehicles in these segments +7% -7% MIDSIZE TRUCK OWNERS COMPACT CAR MIDSIZE CAR MIDSIZE SUV COMPACT SUV FULLSIZE TRUCK Trade-In: KBB Transaction Data, 2015 Conquest: KBB.com Omniture, Q4 2015 vs. Q4 2014 Autotrader Reverse Cross-Shopping, Q4 2015

MIDSIZE TRUCK SHOPPERS CROSS-CONSIDERATION & PURCHASE DRIVERS PRICING MAYBE A MOTIVATOR for SUV Cross-Shopping Among Midsize Truck Shoppers TOP ACTIVITIES that Drive Truck Considerers to Choose Midsize Trucks TOP 3 Midsize Truck Shoppers CROSS-SHOPPED segments for Average new car transaction price, Nov 2015 As consumers research and shop for midsize trucks, they’re most often cross-considering fullsize trucks and small to midsize SUVs. $26,287 $29,707 $34,136 79% Urban delivery for small business #1 Fullsize Truck #2 Compact SUV #3 Midsize SUV 51% Compact SUV Midsize Truck Midsize SUV Outdoors – camping & surfing Shopper Perceived Difference/Reason to Purchase What product or feature had a significant advantage in choosing a midsize truck over an SUV or fullsize truck? Leisure towing/ hauling 31% Appearance/Style Gas Mileage Midsize Truck SUV Midsize Truck Fullsize Truck Home Improvement Contract Projects 16% Midsize Trucks Win Over SUVs Midsize Trucks Win Over Fullsize Trucks KBB.com and Autotrader Cross Shopping, Q4-15 (KBB comparison is versus Q4-14) KBB.com Transaction Price Data, November 2015 2016 Autotrader Sourcing Study - Significant advantage at 90% KBB.com Truck Survey 2.0, n-302, Q: Please classify the activities that go best with each category

SUMMARY 1. 2. 3. 4. 5. More than a 50% new USED OVERALL TRUCK TRAFFIC IS UP Influenced by interest in updated midsize truck offerings combined with improved economic factors More than a 50% increase in midsize truck segment share 2. SEGMENT COMPETITION HEATS UP Colorado and Canyon re-entries strengthen domestic presence, while Tacoma continues to pull ahead with redesign new USED 3. SHOPPING TRENDS POINT TO SEGMENT LOYALTY & OPPORTUNITIES While truck shopping traditionally demonstrates segment loyalty trends, trade-in and consideration trends alongside a double-digit increase in sales indicate pent up demand for midsize trucks is not exclusive to segment-loyal shoppers SUMMARY 4. IF ATTENTION DIVERTS, IT’S TO SUVS & FULLSIZE TRUCKS SUVs and fullsize trucks are the segments most often cross-shopped by midsize truck considerers; when midsize trucks win, body style and fuel savings, respectively, are tipping points 5. SEGMENT EXPECTED TO EXPAND Segment competition will intensify as new competitors emerge in the future