1

2020 Virtual Annual Meeting – Shareholder Questions

Ford addressed 11 topics, some representing multiple questions, from shareholders during its Virtual Annual Meeting of Shareholders on May 14, 2020. Topics covered at the meeting included stock price, dividend, capital allocation, executive/board compensation, dealers-related matters, the Company’s response to the COVID-19 pandemic, and its restart plans. We also received the questions listed below from shareholders (shown as submitted). Please note that the answers below may contain some forward-looking statements about our expectations for future performance. Actual results may vary, and the most significant factors are included in the Cautionary Note on Forward-Looking Statements found on page 32.

Autonomous Vehicles

Q. Has Ford Management changed their short term and long term plans concerning the investments being made in autonomous transportation" due to the priorities mandated by the current global pandemic realities; and will the efforts being made to transform MCS (Michigan Central Station) and other Corktown projects be scaled back

A. No – we have not changed our strategy related to autonomous vehicles. A priority for the company through this pandemic has been to protect our cycle plan – a lesson we learned during the Great Recession. This ensures that when the economy improves, our product portfolio will be as fresh as possible. Our approach to autonomous is to focus on the movement of people and goods. We do see the potential for consumer and business behaviors to change as a result of the COVID-19 pandemic. We need to better to understand these changes to determine what the impact, if any, will be to our go-to-market strategy and the overall user experience. To give us sufficient time for this, we believe the right decision is to shift the launch of our autonomous vehicle service to 2022.

No announcements have been made to date regarding the Michigan Central Station development. This project remains a priority as it is about preparing the company for another century of innovation and success, including attracting the best talent, and is critical to delivering on our long-term business plan. We will always be

2

thoughtful about how we deploy resources from a timing standpoint in order to be fiscally responsible.

Q. What is the timeline on a fully autonomous functioning car

A. We are planning to launch our autonomous vehicle service in 2022. The timing for driverless operation is dependent on several factors including the regulatory environment, safety performance data and an appropriate level of community acceptance.

Q. Have you done a survey as to who would buy a self-driving car?? I am not able to get a yes from anyone!!

A. Our approach to autonomous is to focus on the movement of people and goods. We do see the potential for consumer and business behaviors to change as a result of the COVID-19 pandemic. We need to better to understand these changes to determine what the impact, if any, will be to our go-to-market strategy and the overall user experience. To give us sufficient time for this, we believe the right decision is to shift the launch of our autonomous vehicle service to 2022.

Questions Regarding Board of Directors

Q. In what month will the next in person Board meeting be.

A. We will monitor the COVID-19 pandemic progress as our economy re-opens and determine when in-person Board meetings can resume. We note that virtual Board meetings have been effective during the pandemic period.

Q. Why don't you have more women serving on your board?

A. We have a robust Board assessment and succession planning process in place that regularly evaluates the mix of Board skills and experience in the context of our strategy and evolving industry and business trends. We focus on director candidates who possess a multitude of skills, professional experiences, and backgrounds aligned with our strategy and prioritize diverse backgrounds and perspectives. Our two most recently added directors are Lynn M. Vojvodich in 2017 and Beth Mooney in 2019.

3

Q. How many board members do you have?

A. Ford currently has 13 directors.

Q. Why so many directors?

Q. With the poor stock performance, why maintain the same level of directors?

Q. I would suggest that the Board of Directors is too large which in my view limits effectiveness. As former public company CEO I can only imagine the time wasted managing a board of this size. Thanks for your review. JR

Q. Why does Ford need 13 directors on their board. As a small stock holder for a number of years and past owner of Ford Products my stock value has continued to go DOWN constantly but yet the current directors do nothing about it. Why? Obviously there's no need for 13 directors. Too many directors that can't make good financial decisions!

A. Because of the complexity and diversity of the Company’s business, we believe that a Board of about our size is appropriate at this time. The size and composition of the Board, however, can change over time.

Business Performance

Q. What is the plan to turn Ford back around?

A. We are committed to delivering improvements across the enterprise. We are intensely focused on driving improvement now in three areas:

1. Fix:

a) Warranty and quality b) Launch performance c) Cost d) Sales and marketing

2. Accelerate:

a) Connectivity b) Internal value creation c) Customer experience

4

d) Ford commercial solutions

3. Grow: expanding offerings and growing capabilities that position us to compete in: a) Affordable Vehicle Portfolio b) BEV Commercial Vehicle c) Autonomous Vehicles

We are also committed to our Global Redesign – announced in 2018. Market by market we are investing in our strengths, such as commercial vehicles, exiting underperforming businesses, as well as forming partnerships and alliances where we have opportunities to better leverage our core competencies.

Q. Can Ford ever imagine having a plan for business that will benefit the share price?

In lieu of that, what guarantee is there that the current dividend is secure?

A. We are focused on delivering results and, as we do, we believe the stock price will take care of itself. Over time, a stock price tends to reflect the ability of a company to provide sustainable value creation – in other words, whether the company is making the right investments in current and future opportunities to increase the returns it gets on those investments. This also includes a company making decisions to stop investing in things that destroy value.

In the face of massive disruption in our sector, as technology capital becomes a bigger part of transportation – such as electric vehicles, autonomy and connectivity – our Global Redesign that we first detailed in 2018 is designed to address these very opportunities. We have consistently said this multi-year plan so take time for us to fully reshape our company. We don’t believe the stock price fully reflects the benefits we believe we can derive from this redesign. At the same time, there is no doubt that our stock price performance in 2019 was negatively impacted by results that were lower than we had initially forecasted, driven in part by a problematic vehicle launch and higher-than expected warranty costs.

Q. When can we get this company back in production so that we are strong and profitable and can once again pay a dividend even if it is less so that our stock can grow in value?

5

Q. Wake up. The stock is in the sewer and you continue to allow the repeated computer/electrical and transmission issues that drive customers toward Asian vehicles. Additionally you continue to allow the vehicles to be equipped with wheel/tire combinations that fail to perform adequately on anything other than hot dry roads and cause the vehicles to ride horribly in comparison. Now, I'm informed that the dividend is reduced or suspended. What are you planning to do to bring Ford back to the top tier of automakers where it rightfully should be? And please stop looking at magazines such as Car and Driver, many of whose opinions were penned by a 20 something who has driven nothing but some variety from Asia, as a model for Fords future.

A. Ford has always put people first, and since January has taken actions to help limit the spread of the virus and protect our people and our business, now and for the long term. After taking similar action earlier in China, in March we instructed our employees to work remotely wherever possible. Soon after, we suspended vehicle and parts production around the world, even as the company was cautiously restarting operations in China, where the crisis has moderated. Fundamental to Ford’s people-first approach, we also made sure any employee not able to complete work remotely would continue to receive their full medical benefits during the crisis.

We quickly transitioned some facilities around the globe to help address the urgent virus-related needs of the healthcare workers, first responders and patients, by engineering and making products including respirators, face shields and masks, ventilators and washable isolation gowns. We offered customers deferred payments on new vehicles in the U.S. and services including vehicle disinfecting, and assisted dealers with applying for financing to bolster available cash and finding ways to sell and service vehicles. As we carry out a phased restart of our global operations, we continue to work closely with medical professionals and union partners, including the UAW, with enhanced safety standards in place to protect workers. Among those protocols, all employees will get Ford-issued personal protection equipment to be worn inside company facilities, be required to adhere to social distancing, complete daily health questionnaires and have their temperature taken before entering company facilities.

6

Buyback

Q. Given the consistent loss of return to investors over the past decade, do you ever see a time when you might reconsider your capital return policy? Specifically, would you be willing to prioritize share buybacks over dividends in order to help bolster share values?

A. We remain committed to a strong balance sheet, and doing what is right to preserve our future, which is why we’ve been proactively addressing our cash levels during this uncertain time.

Our recent actions not only provide flexibility to weather the present disruption caused by COVID-19, but also the confidence and means to continue to invest in future growth initiatives.

Funding our cycle plan and investing in technology and growth areas are key. After manufacturing stabilizes and our free cash flow outlook is positive, we will continue to target cash of about $20 billion as we pay down our $13 billion corporate revolver.

Capital Allocation

Q. Are you able to better articulate an approximation of the portion of the $11 Billion

redesign total charges that will turn out to look more like profit producing investments over the coming years, vs. closures and costs that will not likely be recovered?

A. We have made progress on the many redesign actions that have already been announced, including moving to a lower-cost, asset-light business model for South America and major redesign actions in Europe. Some have yet to be fully implemented, such as personnel reductions and closure of Bridgend in Europe – we are on track for this to occur by the end of this year.

We are preserving the financial flexibility to fund our redesign and growth initiatives. We still have the potential for $11 billion of EBIT and $7 billion of cash outlays for the Global Redesign over time. We continue to evaluate all strategic options.

7

Q. Does the Board of Directors have a committee to specifically review the financial and operational results of major capital and other expenditures of management (such as the billion dollars est. for rent a bicycles, AI, electric cars, etc.) given the cash flow issues in this economy.....AND will a report be available to shareholders which will include managment responsible for said decision making as well as the results.

A. The Corporate Governance section of the 2020 Proxy Statement (pages 10-24) provides information regarding the functions of the Board of Directors and its Committees and their oversight of capital allocation and risk management matters. Specifically, page 13 lists among the functions of the Finance Committee review of the Company’s capital appropriations financial performance against targets, an annual review of previously approved capital programs, and periodic review of acquisitions and new business investments. Pages 14-15 provide information on the various forums that manage risks, including strategic risks regarding capital allocation. Please see the Company’s quarterly earnings material and filings with the SEC for information concerning our financial results.

Cash Management

Q. If the world remains in its current state, discuss your cash flow requirements.

Q. Cash- how does management plan to use existing excess cash? What is the outlook and plan for Ford's debt? How does management plan to deal with cost?

A. We are aggressively addressing our operations and looking for opportunities to preserve cash and lower operating costs. We’ve identified billions of dollars of opportunities, but we know we will not be able to recover everything or makeup all the production that has been lost. These include reductions in contribution and structural costs and capital expenditures (e.g., engineering, advertising and marketing, facility costs), eliminating non-essential expenditures, and deferring executive compensation. We made the difficult decision to suspend our dividend, postpone merit increases for all salaried employees globally, and defer executive pay for at least five months. Our priorities are to protect our cycle plan, launches and

8

investments in technology so that Ford will come out of this in a stronger competitive position when conditions improve.

Our full-year 2020 capital expenditure guidance is $6.3 - $6.8 billion, about half a billion lower than February guidance and $.8 to $1.3 billion lower than last year. Relative to calls on capital, funding our cycle plan and investing in technology and growth areas are keys. Also, after manufacturing stabilizes and our adjusted free cash flow outlook is positive, we will continue to target cash of about $20 billion as we pay down our $13 billion corporate revolver. As soon as practical after we have strengthened our balance sheet, including repaying our corporate revolver, we will consider reinstating the dividend, subject to approval by the Board of Directors.

China

Q. Hi Bill, Jim and the Ford Team: Thank you for stepping up for people everywhere during this pandemic crises! And, thanks for taking my question. It appears that in CHINA, April sales volume and mix improved dramatically. Has Ford's China turnaround finally hit the inflection point of profitability?

A. Operational excellence, especially in this crisis, requires the dedication but also collaboration, partnership and support from the entire enterprise, including our suppliers, dealers, employees, unions and joint-venture partners. And our execution in this excellence was demonstrated early on in China.

In addition to taking care of our employees, dealers and customers, our China team quickly honed in on costs. In the face of significant demand disruption, Ford China delivered year-over-year improvements in both contribution and structural costs in the first quarter of 2020. The China team got close to their initial EBIT target for the quarter, offsetting all the COVID-19 impacts. The actions we took in China became best practice for us and part of our playbook.

Q. Also, in China, the self driving vehicle industry is moving rapidly toward commercialization. What is the status of Ford's Baidu partnership and trial of AV's in Beijing? Is Ford on the path to commercialization of AV's in China once the Baidu trial period completes later this year? Keep up the good work!

9

A. The two-year joint AV test is still ongoing according to the plan, and we continue to gain valuable insights. Ford remains optimistic about the future of autonomous vehicle in China. That is why we continue to evaluate evolving Chinese customers’ demands for self-driving service, while exploring potential opportunities with our partners in terms of technical capabilities development and ecosystem services.

Q. China operations have been a nightmare with no end in sight. Will the board explore selling our stake to the Chinese Government or a Chinese Company?

A. Through a keen focus on cost, and benefits of a stronger portfolio of products, we cut or losses in China by half in 2019. We do believe that over time we can be profitable again in China.

Relative to COVID-19 crisis – China was of course at the forefront. Our team did a great job mitigating the negative effects of the virus on our customers, other stakeholders and on our business results.

New product launches, including Escape and Corsair, and faster improvement in sales relative to the market contributed to improvement of 10 basis points in share in China in the first quarter of 2020. Explorer and Aviator, new localized products, are on track to launch this year and are important additions to our China portfolio.

We plan to continue our launch of 30 market-specific Ford and Lincoln vehicles in China – 10 of them electric – over the next three years.

Competition

Q. ford auto has underperformed other competitors due to shift of consumer behavior and also low-quality vehicles; a good indicator of good quality auto is always the used car price and Ford almost rock bottom on the price in the US or overseas market. How Ford approach those complaints over the years? An example of the most complaint over the years is the transmission. What is the board's plan in bringing back consumers' confidence?

A: Ford understands and regrets that many customers have been inconvenienced and frustrated by the performance of the DPS6 transmission. Earning and keeping the trust of customers is vital to everything we do. That is why Ford and its dealers have gone to great lengths to improve the performance of the transmission and the

10

quality of all of vehicles. In fact, the Ford F-150 and Ford Mustang were J.D. Power’s 2020 Vehicle Dependability Study award recipients for large light duty pickup and sporty midsize car segments, respectively, helping to launch Ford Motor Company into a tie-for-third among all automakers. The SYNC 3 voice-activated communications system was a significant driver of the company’s six-spot improvement compared to 2019.

Q. Can we look forward to enticing products that will beat competitors forecast?

A. While we can’t share future products, it’s safe to say that we have a number of new vehicles coming that we think will beat the competition.

Electrical Vehicles

Q. When is Ford Motors going to start building 100% EV cars and get out of the ICE business otherwise Tesla will be buying Ford.

A. Our first all-electric vehicle, Mustang Mach-E, is currently targeted to go on sale later this year. Demand for all-electric vehicles in the U.S. remains relatively low and is largely driven by incentives or government mandates. In global markets such as Europe and China, policy and regulatory laws are largely driving production plans, and ultimately customer purchases. With a record number of all-electric vehicles coming from the industry, a stronger market will develop and further options for consumers at a more attainable price point. Electric vehicles can provide customers with a better driving experience, performance and capability, that will ultimately bolster demand.

Q. How will the recession affect the company's electric vehicle plans? Are we gonna cut back on the proposed 11 billion dollar investment?

A. Our electrified vehicle plans remain on track. We are investing more than $11.5 billion in electrified vehicles globally through 2022.

Q. Do you plan to go heavier into Electric vehicles?

A. In addition to Mustang Mach-E launching this year, we have announced an all-electric F-150 is coming in a few years as well as the all-electric Transit under development for MY22. We are also delivering hybrid-electrics to bring new

11

capability and features to customers on high-volume, profitable vehicles. We are electrifying our most popular name plates, including the all-new Ford Explorer and Ford Escape hybrids last year and with new F-150 Hybrid this year.

Q. Why is Ford electric vehicle production going to be so low? What are the plans to be competitive with Tesla in the electric vehicle market? Why would one buy a Ford electric vehicle over Tesla?

A. It’s important to recognize that we have plans for electrification across our portfolio of products, including commercial vehicles, and across our regions. Relative to our all-electric Mustang SUV – the Mach-E, this is our all-electric vehicle built in North America. We project volumes will be limited to about 50,000 the first year and we will be exporting this vehicle to other markets including Europe.

Relative to our market position, our priority for this SUV is the integration of quickness with the responsiveness, ride comfort, confident handling and directed steering you’d expect, combined with the spaciousness and design cues of an SUV Mustang. This, together with an all-new infotainment system and connected vehicle technologies, including over-the-air updates, ensure we have a great value proposition for our customers. Pricing starts from $43,895 – far more affordable than other fully electric SUVs in the market. This is before the available additional tax credit of $7,500 which is still available to Ford customers. In addition, we will have more than 2,100 EV-certified dealers nationwide giving access to EV technicians and an established parts distribution service.

Facilities

Q. What are the intentions of ford motor co. in regards to the 973,000 sq. ft. building being compleatly under utilized in Monroe Mi.it sits on the only port in michigan with access to lake erie, is less than a mile from the interstate, and railway system. there are 273 acres of land, and all utilitys why are we not using this resourse to it fullest potential? What are the plans with this diamond in the ruff

12

A. The facility is currently occupied and being used to house component parts and manufacturing equipment. At this time, Ford does not have plans to change the way facility is being used.

Q. Where does the revitalization/remodeling of the Engineering/Design complex(s) stand?

A. Design planning and preparations continue for the new Dearborn campus Research & Engineering Center. Initial construction of the new central campus building is expected to begin later this year with phased occupancy starting in 2023.

Q. How much money was spent in 2019 on the Michigan Central Train Station project? And how much more will be spent on it this year?

A. Ford is investing $740 million overall in its Michigan Central development. This includes the building and land purchase, as well as expected rehabilitation costs. While our budget has not changed, we will be monitoring economic circumstances closely and pacing our investments relative to the performance of the economy and our company overall.

Q. Why are you not doing more to clean up the Super Fund Site in Ringwood, NJ. Your current deal with the Borough of Ringwood leaves us residents in danger.

A. We take our environmental responsibility seriously, and we have been working cooperatively with the EPA and state officials to clean up the site in a safe manner.

Fuel Cell Technology

Q. Where is Ford in the research and development of fuel cell technology?

A. Ford continues to explore and develop electric propulsion options, including battery electric and fuel cell. Our current focus is on hybrid and battery electric vehicles however we continue to develop fuel cell technology as an alternative for commercial applications, led from Ford’s Research and Innovation Center in Dearborn.

13

Fuel Economy

Q. Why isn't ford making cars that run on alternative fuels like CNG, LPG, and especially Hyrdrogen. I am a big fan of Hydrogen powered cars instead of electric cars.

A: We offer a gaseous prep kit across our entire lineup of commercial vehicles, along with E85 and biodiesel. Hydrogen fuel has limited availability and most customers want easy access to fuel, such as gasoline, CNG or electricity.

Future Products

Q. Will Lincoln Motor Company continue to exist as a part of Ford Motor Company past 2025?

A. Lincoln Motor Company is important to the company and continues to grow around the world. Lincoln has the broadest-ever lineup of new SUVS and is well positioned for growth as the market continues to shift to SUVs. Lincoln’s newest vehicles like the Aviator and Corsair continue to gain traction in the marketplace and the addition of a BEV will contribute to Lincoln’s future growth as more consumers chose all electric vehicles.

Q. With recent media coverage of leaks concerning Ford's product and business planning what steps has management taken or does it plan to take to curtail such possibility detrimental activity?

A. We take every unauthorized release of information seriously. We actively involve corporate investigations in any type of leak. The outcome of those investigations can lead to punishment up to and including termination. The outcomes of those investigations are confidential.

Global Markets

Q. Do you foresee any changes to which global markets Ford operates in due to economic effects of the pandemic?

14

A. Importantly, we have made progress on the many redesign actions that had been already announced globally prior to the pandemic.

In Europe, the benefits of Global Redesign actions continue to drive down structural costs. We are on track to complete the balance of our headcount reductions, about 10,000, by year end.

In South America, 1Q 2020 results favorably reflected benefits from our Global Redesign, including exiting heavy truck production, discontinuing certain passenger vehicles and reducing headcount, as we migrate to a lower-cost, asset-light footprint.

Some actions have yet to be fully implemented, such as personnel reductions and closure of Bridgend in Europe – we are on track for this to occur by the end of this year.

We are preserving the financial flexibility to fund our redesign and growth initiatives. We still have the potential for $11 billion of EBIT and $7 billion of cash outlays for the Global Redesign over time.

As stated on first quarter earnings call, we believe we will see the largest impact from this crisis in the second quarter as industry volumes continue to be down significantly in every region year-over-year.

We continue to monitor the impact of COVID-19 on our business and model various scenarios based on the inputs we track.

− We look at third party data providers like IHS, JD Power and others, with specificity around what they are assuming to arrive at a given scenario.

− A key input for us right now is, of course, the evolution of the virus and measures to contain it. In all our markets, we are developing forecasts using the most granular projections available on the number of new cases, along with daily assessments of shelter in place orders and other restrictions on activity, to develop a bottoms-up planning base for new vehicle sales.

− We are also closely tracking developments in the labor market, which will be critical as economies reopen, along with stimulus actions by governments around the world, which directly or indirectly impact our business.

15

Q. What is the vision for China and Europe and South America?

A. The heart of Ford's vision is preparing the company to compete and win in this emerging era we describe as Smart Vehicles For A Smart World. We continue to focus on our strengths and to invest in and expand our capabilities in mobility, connected service and autonomous vehicles, areas that will provide meaningful opportunities for growth.

In terms of global redesign, Ford took decisive actions in both Europe and South America to fortify and build on strengths while addressing underperforming parts of those regional businesses.

In Europe, we announced the closure of six manufacturing facilities, which will reduce our footprint to 18 facilities from 24. We also refocused our European product portfolio atop three pillars:

1. Strengthening our leadership in commercial vehicles 2. Delivering a targeted portfolio of passenger vehicles 3. Focusing on importing iconic nameplates.

In South America, we're moving to a lower-cost asset-light business model, and last year, we exited production of heavy trucks. We closed our plant in San Bernardo and discontinued the Fiesta and Focus models. Over the past 3 years, we've reduced our total workforce in South America by more than 40%.

In China, we completed the build-out of an experienced local leadership team and localized the first of five products, our Lincoln Corsair. We plan to continue our launch of 30 market-specific Ford and Lincoln vehicles in China – 10 of which will be electric – over the next three years.

Q. How does Ford justify abandoning the US entry-level market to Asian competitors by halting the sale of all cars? It makes even less sense today when vastly improved models of the Fiesta and Focus are currently in production worldwide and the economy is tanking.

A. We are constantly evaluating the diverse offerings in our portfolio based on consumer preferences and market dynamics.

16

Consumer preferencing have been shifting towards SUV and our recently launched Escape offers new powertrains and transmission systems, a reduction in weight, improved aerodynamics and updated suspension system - all contributing to the new Escape being the best-performing, most fun-to-drive Escape ever.

In addition, this year we plan to launch our all-new small, rugged off-road SUV – further diversifying our utility portfolio. That launch is tracking well and is benefiting from high content carryover from the new Kuga/Escape.

Q. When should we realistically expect a rebound in stock prices, as well as an uptick in sales and performance internationally? Also, is there any considerations of eliminating international sale in select markets to cut cost, such as Mexico or China?

A. We are constantly evaluating and monitoring conditions in our key markets. Today, the economic environment remains too uncertain to provide updated guidance for the year.

As stated on first quarter earnings call, we believe we will see the largest impact from this crisis in the second quarter as industry volumes continue to be down significantly in every region year-over-year. China was at the forefront of the COVID-19 crisis. Our team did a great job mitigating the negative effects of the virus on our customers, other stakeholders and on our business results. Both wholesales and revenue were down about 30%. New product launches, including Escape and Corsair, and faster improvement in sales relative to the market, contributed to improvement of 10 basis points in share in China in the first quarter of 2020. Explorer and Aviator are on track to launch this year and should be important additions to our China portfolio. We plan to continue our launch of 30 market-specific Ford and Lincoln vehicles in China – 10 of which will be electric – over the next three years. On the strategic front - as you would expect – we will consider all strategic options in all regions

17

Incentives

Q. Why are we borrowing at 9% then offering 0% financing? Why aren't we offering equal incentives to cash buyers?

A. Our borrowing costs at Ford and Ford Credit increased when our credit ratings were downgraded below investment grade. While the Ford Motor Company unsecured bond issuance was at a higher rate than we would have liked, it provided financial flexibility when most of our Automotive operations were shut down due to the global pandemic.

Separately, Ford Motor Credit has taken actions to help customers during the pandemic. One of the programs is a 0% financing program on certain vehicles. Ford Motor Company funds variable marketing incentive programs including those offered by Ford Motor Credit where interest rates are offered below market rates. Other incentive programs include cash incentives that dealers can offer to customers. Marketing programs fluctuate based on many factors including the competitive environment.

Leadership

Q. Why should any stockholder and/or employee of Ford Motor Company respect or support any Ford executive or director given the past and current obscene multi-million dollar annual compensation packages and dismal performance of the Ford Motor Corporation?Q. Do you think the company's strategy has been clear ? Do you think the ex Steel Case leader is still the man of the situation?

Q. When will Hackett be replaced

Q. when is the board going to act to replace the company's current CFO -- very little good has happened while he has been in office.

A. There were extensive operating and strategic accomplishments last year that are positioning Ford for long-term success, including:

• Ford being America’s best-selling vehicle brand for the 10th consecutive year

18

• The Ford F-Series being America’s best-selling truck for the 43rd straight year, and top-selling vehicle across all classes in the U.S. for the 38th consecutive year

• Lincoln continuing to assert itself in the luxury vehicle market by selling the most SUVs since 2003

• Expanding our alliance with Volkswagen to develop electric vehicles and invest in Argo AI for autonomous vehicles

• Announcing plans with Mahindra to engineer, make and sell vehicles – including a midsize sport SUV – in India and high-growth emerging markets

• Investing in a partnership with Rivian to develop next-generation battery electric vehicles

• Carrying out key parts of the most ambitious vehicle renewal in Ford’s history, with 40 percent of the company’s global product portfolio new since the end of 2017:

o New versions of the Ford Explorer, Escape and Super Duty, and Lincoln Aviator and Corsair, in North America

o Ford Puma and two-tonne Transit in Europe

o Our first-ever battery-electric vehicle in China, a version of the Ford Territory

o Unveiling of the exciting, all-electric Mustang Mach-E

• Improving profitability in Europe to nearly break-even for the full year, and in China posting four straight quarters of year-over-year improvement.

We believe strongly in aligning executive compensation with the company’s business performance and long-term shareholder value. That’s why approximately 80 percent of senior executive compensation comprises performance-based awards tied to Ford’s business performance and stock performance.

19

Lobbying Disclosure

Q. How can Ford be recognized as a forthright company when the board recommends not disclosing lobby expenses?

A. Our transparency in our disclosures on political contributions and other ESG matters show we believe transparency is important. Many stakeholders have views as to how companies should disclose their views on certain topics. Even though we do not agree with all of the Lobbying Proposal’s requests for disclosure, we understand the desire for increased transparency. We are studying our disclosure in this area and, if we believe it is in Ford’s best interests, we will expand our disclosure at an appropriate time.

Market Share

Q. When do you expect to compete effectively in the domestic sub luxury and luxury sedan market with a vehicle that addresses the needs of that market, following the mass bailout of that market by all of the domestic big 3 companies?

Q. I am a fan of small, rear-wheel drive cars, a shrinking (but valuable) segment of the market. Tesla and BMW have proven a market exists for the right car in that segment. What can you tell us about future plans for the Mustang and the Ford GT? Can we expect battery-electric or hybrid versions soon? How will Ford maintain the unique character of these vehicles in a post-internal combustion world? Thanks

A. Mustang is the heart and soul of Ford. It remains the best-selling sports car in the world and recently earned its fifth consecutive year as the world’s best-selling sports coupe, along with being America’s best-selling sports car for the last 50 years. Performance continues to be a Mustang priority, as seen in the latest Mustang Shelby GT500, the most powerful production car Ford has ever built. With the arrival of the all-electric Mustang Mach-E, we’re also introducing all-electric propulsion to Mustang for the first time. And we recently announced the all-electric Mustang Cobra Jet 1400 prototype drag race car, where electric propulsion is raising Mustang performance to all-new levels.

20

We have also recently upgraded Ford GT with increased horsepower and improved cooling, plus the new Liquid Carbon limited edition. GT wraps up production in 2022.

Q. When is Ford going to implement drastic changes? Tesla is taking over the market and all the automakers continue to fall behind. Does Ford have a solution to retake the market for good?....if not, I got the solution.

A. We are still committed to our investments in electrification. Ford is investing more than $11.5 billion in Electrified Vehicles.

Our launch plans for this year include our all-new all-electric Mustang Mach-E SUV as well as our first-ever hybrid F-150. We will also be launching an all-new fully electric Transit in 2022 as well as a pure BEV F-150, for which we have not announced a launch date yet.

Hybrid-electrics bring new capability and features to customers on high-volume, profitable vehicles. We see significant growth in our hybrid business over the next five years - electrifying our most popular nameplates,

− All-new Ford Explorer hybrid (launched 2019) − Ford Escape hybrid (launched 2019) − New F-150 hybrid (launching this year)

Ford electric vehicles will be inspired by our most iconic products like Mustang and our utility and truck line-up, amplifying the best attributes that our customers love, such as performance, capability and convenience. Our electrified product portfolio will be combined with an ecosystem of services that will create a hassle-free and easy transition to an EV lifestyle. We are taking a portfolio approach to electrification with hybrids, plug-in hybrids, and battery electric vehicles. Hybrids will continue to be part of the equation for a number of years to come, and our BEV portfolio will grow substantially over the course of time. For example, in Europe in 2019, we committed that every new Ford passenger vehicle nameplate in Europe will include an electrified option.

21

Pre-COVID-19, Ford planned to introduce 18 new electrified vehicles in Europe by the end of 2021, including 14 this year – everything from Fiesta to Transit will have an EV option. All of these and other products supported Ford’s commitment to achieve the Paris Climate Accord glidepath for lower CO2 emissions. These plans might shift due to the COVID-19 pandemic, but it is too early to discuss that.

Marketing

Q. How about stopping all television advertising and re-directing the $$$ saved to private cash buying offers for Ford stockholders?who is responsible for approval of the t v commercials. some of them would turn off any potential buyer. recent ones seem to have improved a bit but they still need some tuning up.

A. We appreciate your input on our advertising. We have scaled back our TV advertising and have shifted it to digital targeted advertising. We do more targeted television and digital advertising. Any stockholder with 100 shares or more (held for six months) qualifies for the shareholder X-plan program on the purchase or lease of a new vehicle.

Q. Are there new marketing plans in this changed business climate due to the reduction in worldwide sales to bring people to Ford? Is Ford adding new products outside of vehicles to the product mix? Will large trucks be coming back be in the mix as a major push?

A. We did change our advertising at the onset of the COVID crisis, leaning into ways to help our customers. We are shifting our portfolio to our strengths, trucks, SUVs, Commercial vehicles. There are no plans to go larger than class 7 trucks, which is our F-750.

Q. Can someone tell me where your advertising firm is regarding your company?

A. We use multiple agencies of record for our product portfolio depending on the vehicle line and regional or national ad support as needed.

22

Meeting Information

Q. How many questions were submitted to this meeting?

A. We addressed 11 topics, many representing multiple shareholder questions, during the meeting and are posting answers to remaining questions via this document.

Q. May we have the documentation or discussion surrounding Proposals 3, 4, and 5?

A. For Proposal 3, please refer to pages 39-75 of the 2020 Proxy Statement. For Proposals 4 and 5, please refer to pages 76-80 of the 2020 Proxy Statement.

Q. Where can I read information about each candidate prior to making my decision?

Q. How do the stockholders learn about the board members and what they stand for in their business

A. Please refer to pages 25-32 of the 2020 Proxy Statement.

Q. What time is the May 14th virtual-meeting scheduled for? Thanks. A. This information was found on pages i, 1, 83, and 84 of the 2020 Proxy Statement.

Q. Why is the board against revealing lobbyist activity?

A. Please refer to page 80 of the 2020 Proxy Statement.

Other

Q. Has the company, or will the company, develop a strategy and set targets that are consistent with achieving the goals of the Paris Agreement?

A. We remain committed to doing our part to reduce CO2 emissions in line with the Paris Climate Accord. To do that, we are streamlining our portfolio, improving fuel efficiency and lowering the lifetime emissions associated with vehicle use. We are also working to reduce the emissions, energy use and water consumption associated with our operations and throughout our supply chain, and transitioning to 100 percent renewable energy sources. We will have more to share on our long-term strategy soon.

23

Q. How much does Ford spend on motorsports in a year? Also, what is the expected Return on Investment and how is the ROI calculated? Thank you

A. We don’t share that detail for competitive reasons. Our motorsports serve both as a marketing and vehicle development tool. We are pleased on the return on investment in both areas.

Q. Does Ford Company have their own airline for flying the company executives around? How many planes , what type and how often do the planes fly? Thanks,

A. Ford leases three planes owned by its Ford Air Services subsidiary. These planes are deployed to transport Ford’s executives in a time-saving manner to help the company efficiently manage its global business.

Q. Will Ford use 3D printed parts in manufacturing?

A. Ford selectively used 3d printing technology to generate parts today and believe there will be increasingly more applications over time.

Product

Q. Why is Ford is putting enhanced engine sounds into its iconic Mustang and F-150 pickup which admits noise outside the vehicle instead of inside only? If you hear these cars in your community, you will be asking the same question. You know that noise pollution affects health adversely so why not get ahead of the curve and act responsibly. European have already responded to this health issue through new reguations of engine noise. Responsible actions that benefit public heath will enhance Ford's image and bottom line.

A. On the inside of the car, we enhance the pleasing sounds of our fuel-efficient

engines. On the outside, we present customers the ability to select the exhaust sound they enjoy, including a good neighbor mode on the Mustang for those early mornings when you leave for work. It even comes with an automatic timer.

Q. Why is Shelby Mustang the only Ford muscle car competing with Dodge variety of

cars like hell cat, red eye, demon etc... Why don't we bring back the Super Charged Thunderbird SC? At one time Thunderbirds was a high demand because they was fast, dependable and well built. Also it at one point out shined the Mustang. Till this day I still have my T-Bird and it is in very very very good condition. I feel like it's the last one left which makes it valuable. A lot of the younger generation

24

teenagers ask me what kind of car is it but the love it and it looks like a car that just came out. Just like the Michael Jordan shoes, they think it just came out but the shoes came out 30 yrs ago, and still selling at a high demand. I would love to see it make a very aggressive comeback as a muscle car not a family car. I think that may be Fords problem. Too many family cars but not enough muscle car selections. At one point I love the SHO Taurus. Word of advice give your car selection an aggressive name and design just like the Raptor! I am a shareholder but you all most definitely have to find a way to boost the stock value. I'm begging you guys to reboot the Ford SC Thunderbird. Someone please mention this at the next meeting. I am forever loyal to Ford eventhough it's my last name. Have a good day!

A. Thanks for your note. We are sharing this feedback with our product development

team. Sedans Q. Can we expect Lincoln to focus on suv and crossover development in the long term,

rather than moving towards sedans

A. Yes. While the MKZ has been an amazing product for Lincoln and its customers over the years, we have been watching the premium midsize sedan segment closely and given the declining segment, we made the decision to end production of the Lincoln MKZ. As consumers shift to SUVs, we feel focusing on our new lineup of SUVs for our customers is best.

Q. I believe that the Company should very seriously re-think it's decision to cease

manufacturing sedans. Perhaps these need to be built off shore or in Mexico more and brought back into the USA? I hate to say that but for some reason Toyota and the other Asian firms can build them and make a profit here. I understand that the profits in building cars isn't as great as it is in trucks and SUV's, but look at what has happened in the past with say mini-vans as an example.

A. Thanks for your note. We’re confident with our plan to compete in the most

profitable segments and where we are strongest, which is SUVs, Trucks, Commercial vehicle and performance.

Q. Ford decided years ago that the market share wasn't large enough to support mini-

vans, but I see thousands upon thousands of these things running around all branded Toyota and Honda. You are finally bringing back the Ranger truck, but many sales were lost there over the years again to Toyota and GM mainly.The

25

Crown Vic was the best police vehicle ever built and you killed that. Police Depts. nationwide stockpiled these cars after you announced their discontinuance as they loved these cars so much, they performed very well.

A. Thanks for your note. The Ford Police Interceptor Utility is nearly 60 percent of all

police vehicles today. When we sold it side-by-side with our Police Interceptor sedan, the utility accounted for more than 90 percent of our sales. As for minivans, the segment fell from 4 percent in 2009 to 2.6 percent in 2019, according to IHS. Meanwhile SUV sales have grown to more than half of all vehicle sales in the U.S.

Q. When is Ford going back to sedans ? That said the names Ford selects are not

desirable! Suggest Ford go back to tried and true names. I choose a Continental in part, because Cadillac ((CT6 ) Based on the stock prices Ford needs a shake up somewhere ! BTW I love my new Continental!

A. Thanks for your note. We’re confident with our plan to compete in our strong

product areas, SUVs, Trucks, Commercial vehicle and performance cars and trucks.

Product Pricing/Affordability Q. Please bring the Fiesta and Focus back to the United States. You have no entry

level cars to attract less affluent customers, not to mention the Fiesta and Focus STs were fantastic cars.

A. Our entry level EcoSport starts at $19,995. SUVs have grown to more than half of all

vehicle sales in the U.S. Q. I'm a disabled senior who has trouble climbing in to SUVs and trucks so I buy cars.

Electric vehicles are too expensive and don't have the range I need. When I need a new car in a couple years, will Ford still make cars?

A. We may not have a car in the traditional design sense, but we will have a family of

vehicles to choose from that we think will meet your needs. Q. Do you support a new Cash for Clunckers government incentive. And if yes, will

you lobby that these turned in vehicles shall be stripped for valuable used parts saving valuable production energy and provide a supply chain to auto repair service providers.

26

Q. I have owned Fords my entire life and I own a small amount of shares (I am a teacher therefore poor) You are all multi millionaires...how about if you give back to teachers and healthcare workers..How about it...yeah I didn't think so..

Q. May the board consider a plan to develop an inexpensive version of both, a F-

150/Ranger & a SUV, for those whom are on social security or disability, and low income Americans ? Payment threshold of $200.00 month is ideal. Thanks and stay safe.

A. During the COVID-19 crisis, Ford has played a leading role in producing a broad range of personal protective and medical equipment for healthcare professionals, first responders and patients. Quickly pivoting to engineering and making such products demonstrated our capabilities for execution and took advantage of our industry’s largest number of U.S. workers and manufacturing capacity.

Q. Best vehicle I've owned in 50 years of driving - diesel Excursion. Any remote chance

it will ever be re-introduced? Thanks. A. No, there are no plans to bring back the Excursion. However, the Expedition Max is

only slightly shorter than the Excursion and might be worth taking a look at it. Q. Ranger Raptors are not available in the US. Why? When will they be? Q. Why not bring the Ranger Raptor to North America? A. We have a full-size Raptor for U.S. customers.

Product Launch

Q. When will i be able to see info on the new Bronco and Bronco Sport A. Soon. We can’t wait to show you.

Q. How has the partial shutdown affected the introduction timing of the Bronco Sport,

Bronco, Mustang MachE and the new F150? A. The timing of these vehicles will move in accordance to the downtime of the plants

due to COVID-19.

27

Q. When do you expect the first deliveries for the Mustang Mach E, taking into account the closures due to Covid 19.

A. Late this year in the U.S.

Q. What is the Timeline for bring the Mustang Mach-E Select to market? When do you

expect to reach economy of scale in respect to this model in order to be profitable by at least 25%?

A. We are launching with premium models. The others, including GT, will launch next

year. Q. What is happening with the Bronco (2 Door) full size project? A. We will offer Bronco in 2 and 4 door.

Quality

Q. We need to figure out what we are going to do to help all our customers out with

our faulty transmissions that our manufactures installed in all of the 2012-2016 ford focus. I myself has a 16 FF with a messed up tranny and expired powertrain warentee amd im still making payments on it. What can we do to help them out and put an end to all these lawsuits and for further action being presented to us in the futire regarding this issue? We cant just do nothing about it.

A. Based on internal and external data, Focus and Fiesta vehicles with automatic

transmissions built since the second half of 2015 – and earlier models that have received component and software updates – perform well and have competitive levels of satisfaction. Ford understands and regrets that many customers have been inconvenienced and frustrated by the performance of the DPS6 transmission. Earning and keeping the trust of customers is vital to everything we do. That is why Ford and its dealers have gone to great lengths to improve the performance of the transmission. Today, as part of these continuing efforts, Ford is taking the initiative to announce two additional customer-satisfaction actions. First, we are extending the warranty on clutch and related hardware in certain 2014-2016 model-year vehicles, and will reimburse customers for repairs that now would have been covered. Second, we are providing the small remaining population of owners who have not already done so an additional chance to get an important software update. While

28

these vehicles always were and remain safe to drive, we regret the inconvenience our customers have experienced.

Q. Why are Ford's overall vehicle quality and vehicle launch's so bad. I have been

hearing about Ford improving vehicle quality for over 30 years yet at the end of the day Ford is still mid pack among all vehicle manufacturers. Why is it that the Japanese companies are always at the top? I believe its a matter of will which the company does not have because quality cost money and Ford is not willing to commit to spending the money required to build quality vehicles. Ford has been the champion of mediocrity forever and I don't see that changing unless management finally makes quality the number one issue over cost. If you look at the cost of all the recalls that money wood have been much better spent on initial quality engineering. As someone who follows the auto industry in general and Ford specifically it seems that the bean counters always win the battle against good engineering which always costs more. The buck stops with Mr. Ford and Mr. Hackett!

A. Thanks for your note. Improving our quality is a top priority. We are seeing positive

results. In fact, the Ford F-150 and Ford Mustang were J.D. Power’s 2020 Vehicle Dependability Study award recipients for large light duty pickup and sporty midsize car segments, respectively, helping to launch Ford Motor Company into a tie-for-third among all automakers. The SYNC 3 voice-activated communications system was a significant driver of the company’s six-spot improvement compared to 2019.

Q. What is Ford doing to address the ongoing quality issues in new vehicles? The

warranty costs are extremely high due to the quality issues. A. We constantly monitor the quality of our vehicles. In some cases, we issue software

updates to fix perceived quality or performance issues. We’ll continue to do so to improve vehicle quality and performance as we move to over-the-air software updates in the coming years.

Q. Why does Ford have so many recalls? What was the cost to Ford re. Recalls during

the past year? A. Our decisions are driven by the data available. When the data indicates a safety

recall is needed, we move quickly on behalf of our customers. Sometimes the data provides a clear indication that an action is needed. Other issues can only be identified after detailed reviews of volumes of data that evolves over time. In either

29

situation, we recognize the inconvenience recalls cause our customers. Yet customers also know these actions help ensure their safety and improve quality and customer satisfaction. We are absolutely committed to launching products with top quality and addressing issues when we see them.

Q. As a share holder I want to maximize the value of my shares (15K) by supporting

this business through automobile purchases and finance tools. Unfortunately your quality versus price point is not adding up. Your cars cost to much, have poor quality after purchase, and do not provide a value proposition better than Toyota. I believe in FORD, drove them all my life until recently. FIX THIS. When are you going to hire a CEO that has oil for blood and auto industry chops? As always First On Race Day"."

A. Thanks for your note. Improving our quality is a top priority. We are seeing positive

results. In fact, the Ford F-150 and Ford Mustang were J.D. Power’s 2020 Vehicle Dependability Study award recipients for large light duty pickup and sporty midsize car segments, respectively, helping to launch Ford Motor Company into a tie-for-third among all automakers. The SYNC 3 voice-activated communications system was a significant driver of the company’s six-spot improvement compared to 2019.

Q. Why aren't we holding suppliers accountable for defective parts or systems and

fining them for shoddy scheduling, or we if not why not.

A. We work closely with each of our suppliers and make sure they are honoring and following the terms of our contracts.

Q. What is being done to get quality under control and eliminate so many recalls? A. Ford’s vehicle quality – based on trusted third party surveys like J.D. Power IQS and

APEAL – is near an all-time high. At the same time, Ford is committed to moving quickly to address safety issues as we continue to build trust with customers. Similarly, we have also increased the transparency of our recall costs. This increased visibility should not, however, diminish our significant quality progress – rather it mainly reflects the industry’s higher recall levels in the past few years.

Q. Ford has developed a reputation for being known as the acronym Fix or Repair

Daily. What is Ford doing to get back to blocking and tackling by delivering a quality product rather than wasting resources chasing automated smart cards"

30

which the consumer is hesitant to embrace? If Ford can't develop a quality simple car

A. Ford’s vehicle quality – based on trusted third-party surveys like J.D. Power IQS and APEAL – is near an all-time high. Ford is committed to moving quickly to address safety issues as we continue to build trust with customers. This increased visibility should not, however, diminish our significant quality progress – rather it mainly reflects the industry’s higher recall levels in the past few years.

Q. Do we prioritize quick replacement of defective products, such as Consumer Reports

assessment that Explorer transmission is clunky" when shifting or Have we put enough money into quality control/testing for improved reputation."

A. We constantly monitor the quality of our vehicles. In some cases, we issue software

updates to fix perceived quality or performance issues, such as transmission shift points. We’ll continue to do so to improve vehicle quality and performance as we move to over-the-air software updates in the coming years.

Q. What is management doing to address the quality issues plaguing some Ford

products? A. We constantly monitor the quality of our vehicles, and Ford’s vehicle quality – based

on trusted third-party surveys like J.D. Power IQS and APEAL – is near an all-time high. We’ll continue to do so to improve vehicle quality and performance as we move to over-the-air software updates in the coming years.

Q. What are you doing to turn Ford product quality and profitabilty (they're directly

related) back around? A. Ford’s vehicle quality – based on trusted third-party surveys like J.D. Power IQS and

APEAL – is near an all-time high. Ford is committed to moving quickly to address safety issues as we continue to build trust with customers. This increased visibility should not, however, diminish our significant quality progress – rather it mainly reflects the industry’s higher recall levels in the past few years.

Q. Why is Ford having so many recalls? A. Our decisions are driven by the data available. When the data indicates a safety

recall is needed, we move quickly on behalf of our customers. Sometimes the data

31

provides a clear indication that an action is needed. Other issues can only be identified after detailed reviews of volumes of data that evolves over time. In either situation, we recognize the inconvenience recalls cause our customers. Yet customers also know these actions help ensure their safety and improve quality and customer satisfaction. We are absolutely committed to launching products with top quality and addressing issues when we see them.

Q. MotorTrend articles about Fords vehicles and how they stack up to the competition

always offer insight to consumers opinions and where they rank on their buying list. Recently, and especially with the new Ford Explorer, they are writing scathing reviews on quality of interior materials, powertrain and overall cost to value relationship. How is Ford going to increase its quality while maintaining competitive pricing in the market and maintaining decent margins?

A. Ford’s vehicle quality – based on trusted third-party surveys like J.D. Power IQS and

APEAL – and average transaction prices are near all-time highs. We constantly review quality reports about all of our vehicles and when the data supports, we work with our suppliers to address through either special service actions or recalls, if needed.

Workforce

Q. GM has 171,000 employees makes 8.4 million vehicles. Ford has 201,000 employees makes 5.28 vehicles. Why are we way overstaffed compared to GM?

A. At the end of the first quarter of 2020, Ford had 188,000 employees worldwide.

Q. Are there employee furloughs so far in 2020

A. Amid the COVID-19 pandemic and outside those covered by union contracts, only a small number of employees in the U.S., whose jobs could not be done remotely, had their hours reduced or were placed on furlough. Their healthcare benefits were continued during the crisis.

Q. What percent of employees can work mostly from home.

A. Amid the COVID-19 pandemic, the vast majority of Ford’s nonmanufacturing colleagues have been working remotely. As the crisis diminishes, we will evaluate what that implies for how and where people work over time.

32

Q. Does the UAW make it more difficult for Ford to operate as a profitable company?

A. We consider the UAW our partners. We are all concerned with building a strong, profitable company.

Cautionary Note on Forward-Looking Statements

Statements included or incorporated by reference herein may constitute “forward-looking statements”

within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations, forecasts, and assumptions by our management and involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those stated, including, without limitation:

• Ford and Ford Credit’s financial condition and results of operations have been and may continue to be adversely affected by public health issues, including epidemics or pandemics such as COVID-19;

• Ford’s long-term competitiveness depends on the successful execution of global redesign and fitness actions;

• Ford’s vehicles could be affected by defects that result in delays in new model launches, recall campaigns, or increased warranty costs;

• Ford may not realize the anticipated benefits of existing or pending strategic alliances, joint ventures, acquisitions, divestitures, or new business strategies;

• Operational systems, security systems, and vehicles could be affected by cyber incidents; • Ford’s production, as well as Ford’s suppliers’ production, could be disrupted by labor issues, natural or

man-made disasters, financial distress, production difficulties, or other factors; • Ford’s ability to maintain a competitive cost structure could be affected by labor or other constraints; • Ford’s ability to attract and retain talented, diverse, and highly skilled employees is critical to its success

and competitiveness; • Ford’s new and existing products and mobility services are subject to market acceptance; • Ford’s results are dependent on sales of larger, more profitable vehicles, particularly in the United States; • With a global footprint, Ford’s results could be adversely affected by economic, geopolitical, protectionist

trade policies, or other events, including tariffs and Brexit; • Industry sales volume in any of our key markets can be volatile and could decline if there is a financial

crisis, recession, or significant geopolitical event; • Ford may face increased price competition or a reduction in demand for its products resulting from industry

excess capacity, currency fluctuations, competitive actions, or other factors; • Fluctuations in commodity prices, foreign currency exchange rates, interest rates, and market value of our

investments can have a significant effect on results; • Ford and Ford Credit’s access to debt, securitization, or derivative markets around the world at competitive

rates or in sufficient amounts could be affected by credit rating downgrades, market volatility, market disruption, regulatory requirements, or other factors;

• Ford’s receipt of government incentives could be subject to reduction, termination, or clawback; • Ford Credit could experience higher-than-expected credit losses, lower-than-anticipated residual values, or

higher-than-expected return volumes for leased vehicles; • Economic and demographic experience for pension and other postretirement benefit plans (e.g., discount

rates or investment returns) could be worse than Ford has assumed; • Pension and other postretirement liabilities could adversely affect Ford’s liquidity and financial condition;

33

• Ford could experience unusual or significant litigation, governmental investigations, or adverse publicity arising out of alleged defects in products, perceived environmental impacts, or otherwise;

• Ford may need to substantially modify its product plans to comply with safety, emissions, fuel economy, autonomous vehicle, and other regulations that may change in the future;

• Ford and Ford Credit could be affected by the continued development of more stringent privacy, data use, and data protection laws and regulations as well as consumer expectations for the safeguarding of personal information; and

• Ford Credit could be subject to new or increased credit regulations, consumer protection regulations, or other regulations.

We cannot be certain that any expectation, forecast, or assumption made in preparing forward-looking

statements will prove accurate, or that any projection will be realized. It is to be expected that there may be differences between projected and actual results. Our forward-looking statements speak only as of the date of their initial issuance, and we do not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events, or otherwise. For additional discussion, see “Item 1A. Risk Factors” in our 2019 Form 10-K Report, as updated by our subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. _____________________________________________________________________________

If you have any questions about this document, please contact Lynn Tyson, Executive Director of Investor Relations, using one of the methods listed below.

E-Mail Ltyson4@ford.com Mail P.O. Box 6248 Dearborn, MI 48126 Phone 313-621-2902