|         |                                                                                                               |
|---------|---------------------------------------------------------------------------------------------------------------|
| • | Reports first quarter 2019 net income of $11 million, or $0.11 per diluted share, on revenues of $2.4 billion |

|         |                                                                      |
|---------|----------------------------------------------------------------------|
| • | Delivers strong operational performance, with revenues up 28 percent |

|         |                                                                                              |
|---------|----------------------------------------------------------------------------------------------|
| • | Generates $173 million of adjusted EBITDA in the first quarter, up 66 percent year over year |

|         |                                                                                                      |
|---------|------------------------------------------------------------------------------------------------------|
| • | Achieves 1.8 share point growth in Core market share, led by a six-point share increase in Class 6/7 |

|         |                                                            |
|---------|------------------------------------------------------------|
| • | Grows backlog 18 percent sequentially during first quarter |

----

|         |                                                                                                                                                                                                   |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Industry retail deliveries of Class 6-8 trucks and buses in the United States and Canada are forecast to be 395,000 to 425,000 units, with Class 8 retail deliveries of 265,000 to 295,000 units. |

|         |                                                                        |
|---------|------------------------------------------------------------------------|
| • | Revenues are expected to be between $10.75 billion and $11.25 billion. |

|         |                                                                          |
|---------|--------------------------------------------------------------------------|
| • | Adjusted EBITDA is expected to be between $850 million and $900 million. |

|                                      |
|--------------------------------------|
|                                      |  |  |  |  |  |  |  |
|                                 | (Unaudited) |
|                                 | Three Months Ended January 31, |
| (in millions, except per share data) | 2019 |   | 2018 |
| Sales and revenues, net              | $ | 2,433 |  |   | $ | 1,905 |  |
| Segment Results:                     |   |   |   |
| Truck                                | $ | 90 |  |   | $ | (7 | ) |
| Parts                                | 144 |  |   | 137 |  |
| Global Operations                    | 6 |  |   | (7 | ) |
| Financial Services                   | 31 |  |   | 20 |  |
| Net income (loss)(A)                 | 11 |  |   | (73 | ) |
| Diluted income (loss) per share(A)   | 0.11 |  |   | (0.74 | ) |

----

----

----

|                                                                             |
|-----------------------------------------------------------------------------|
|                                                                             |  |  |  |  |  |  |  |
|                                                                        | Three Months Ended January 31, |
| (in millions, except per share data)                                        | 2019 |   | 2018 |
| Sales and revenues                                                          |   |   |   |
| Sales of manufactured products, net                                         | $ | 2,386 |  |   | $ | 1,867 |  |
| Finance revenues                                                            | 47 |  |   | 38 |  |
| Sales and revenues, net                                                     | 2,433 |  |   | 1,905 |  |
| Costs and expenses                                                          |   |   |   |
| Costs of products sold                                                      | 1,979 |  |   | 1,532 |  |
| Restructuring charges                                                       | — |  |   | (3 | ) |
| Asset impairment charges                                                    | 2 |  |   | 2 |  |
| Selling, general and administrative expenses                                | 186 |  |   | 191 |  |
| Engineering and product development costs                                   | 86 |  |   | 75 |  |
| Interest expense                                                            | 85 |  |   | 79 |  |
| Other expense, net                                                          | 97 |  |   | 80 |  |
| Total costs and expenses                                                    | 2,435 |  |   | 1,956 |  |
| Equity in income of non-consolidated affiliates                             | — |  |   | — |  |
| Loss before income taxes                                                    | (2 | ) |   | (51 | ) |
| Income tax benefit (expense)                                                | 19 |  |   | (15 | ) |
| Net income (loss)                                                           | 17 |  |   | (66 | ) |
| Less: Net income attributable to non-controlling interests                  | 6 |  |   | 7 |  |
| Net income (loss) attributable to Navistar International Corporation        | $ | 11 |  |   | $ | (73 | ) |
|                                                                        |   |   |   |
| Income (loss) per share attributable to Navistar International Corporation: |   |   |   |
| Basic:                                                                      | $ | 0.11 |  |   | $ | (0.74 | ) |
| Diluted:                                                                    | $ | 0.11 |  |   | $ | (0.74 | ) |
|                                                                        |   |   |   |
| Weighted average shares outstanding:                                        |   |   |   |
| Basic                                                                       | 99.1 |  |   | 98.6 |  |
| Diluted                                                                     | 99.4 |  |   | 98.6 |  |

----

|                                                                                                              |
|--------------------------------------------------------------------------------------------------------------|
|                                                                                                              |  |  |  |  |  |  |  |
|                                                                                                         | January 31, |   | October 31, |
| (in millions, except per share data)                                                                         | 2019 |   | 2018 |
| ASSETS                                                                                                       | (Unaudited) |   |   |
| Current assets                                                                                               |   |   |   |
| Cash and cash equivalents                                                                                    | $ | 1,201 |  |   | $ | 1,320 |  |
| Restricted cash and cash equivalents                                                                         | 83 |  |   | 62 |  |
| Marketable securities                                                                                        | 41 |  |   | 101 |  |
| Trade and other receivables, net                                                                             | 429 |  |   | 456 |  |
| Finance receivables, net                                                                                     | 1,818 |  |   | 1,898 |  |
| Inventories, net                                                                                             | 1,211 |  |   | 1,110 |  |
| Other current assets                                                                                         | 291 |  |   | 189 |  |
| Total current assets                                                                                         | 5,074 |  |   | 5,136 |  |
| Restricted cash                                                                                              | 65 |  |   | 63 |  |
| Trade and other receivables, net                                                                             | 31 |  |   | 49 |  |
| Finance receivables, net                                                                                     | 272 |  |   | 260 |  |
| Investments in non-consolidated affiliates                                                                   | 32 |  |   | 50 |  |
| Property and equipment (net of accumulated depreciation and amortization of $2,452 and $2,498, respectively) | 1,275 |  |   | 1,370 |  |
| Goodwill                                                                                                     | 38 |  |   | 38 |  |
| Intangible assets (net of accumulated amortization of $141 and $140, respectively)                           | 29 |  |   | 30 |  |
| Deferred taxes, net                                                                                          | 123 |  |   | 121 |  |
| Other noncurrent assets                                                                                      | 98 |  |   | 113 |  |
| Total assets                                                                                                 | $ | 7,037 |  |   | $ | 7,230 |  |
| LIABILITIES and STOCKHOLDERS’ DEFICIT                                                                  |   |   |   |
| Liabilities                                                                                                  |   |   |   |
| Current liabilities                                                                                          |   |   |   |
| Notes payable and current maturities of long-term debt                                                       | $ | 942 |  |   | $ | 946 |  |
| Accounts payable                                                                                             | 1,484 |  |   | 1,606 |  |
| Other current liabilities                                                                                    | 1,225 |  |   | 1,255 |  |
| Total current liabilities                                                                                    | 3,651 |  |   | 3,807 |  |
| Long-term debt                                                                                               | 4,552 |  |   | 4,521 |  |
| Postretirement benefits liabilities                                                                          | 1,961 |  |   | 2,097 |  |
| Other noncurrent liabilities                                                                                 | 686 |  |   | 731 |  |
| Total liabilities                                                                                            | 10,850 |  |   | 11,156 |  |
| Stockholders’ deficit                                                                                  |   |   |   |
| Series D convertible junior preference stock                                                            | 2 |  |   | 2 |  |
| Common stock, $0.10 par value per share (103.1 shares issued and 220 shares authorized at both dates)        | 10 |  |   | 10 |  |
| Additional paid-in capital                                                                                   | 2,732 |  |   | 2,731 |  |
| Accumulated deficit                                                                                          | (4,609 | ) |   | (4,593 | ) |
| Accumulated other comprehensive loss                                                                         | (1,791 | ) |   | (1,920 | ) |
| Common stock held in treasury, at cost (4.1 and 4.2 shares, respectively)                                    | (160 | ) |   | (161 | ) |
| Total stockholders’ deficit attributable to Navistar International Corporation                         | (3,816 | ) |   | (3,931 | ) |
| Stockholders’ equity attributable to non-controlling interests                                         | 3 |  |   | 5 |  |
| Total stockholders’ deficit                                                                            | (3,813 | ) |   | (3,926 | ) |
| Total liabilities and stockholders’ deficit                                                            | $ | 7,037 |  |   | $ | 7,230 |  |

----

|                                                                                          |
|------------------------------------------------------------------------------------------|
|                                                                                          |  |  |  |  |  |  |  |
|                                                                                     | Three Months Ended January 31, |
| (in millions)                                                                            | 2019 |   | 2018 |
| Cash flows from operating activities                                                     |   |   |   |
| Net income (loss)                                                                        | $ | 17 |  |   | $ | (66 | ) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities:     |   |   |   |
| Depreciation and amortization                                                            | 33 |  |   | 37 |  |
| Depreciation of equipment leased to others                                               | 15 |  |   | 18 |  |
| Deferred taxes, including change in valuation allowance                                  | (41 | ) |   | 6 |  |
| Asset impairment charges                                                                 | 2 |  |   | 2 |  |
| Gain on sales of investments and businesses, net                                         | (59 | ) |   | — |  |
| Amortization of debt issuance costs and discount                                         | 6 |  |   | 8 |  |
| Stock-based compensation                                                                 | — |  |   | 9 |  |
| Provision for doubtful accounts                                                          | 1 |  |   | 1 |  |
| Equity in income of non-consolidated affiliates, net of dividends                        | — |  |   | 3 |  |
| Write-off of debt issuance costs and discount                                            | — |  |   | 42 |  |
| Other non-cash operating activities                                                      | (1 | ) |   | (6 | ) |
| Changes in other assets and liabilities, exclusive of the effects of businesses disposed | (213 | ) |   | (130 | ) |
| Net cash used in operating activities                                                    | (240 | ) |   | (76 | ) |
| Cash flows from investing activities                                                     |   |   |   |
| Purchases of marketable securities                                                       | — |  |   | (61 | ) |
| Sales of marketable securities                                                           | — |  |   | 150 |  |
| Maturities of marketable securities                                                      | 61 |  |   | 5 |  |
| Capital expenditures                                                                     | (44 | ) |   | (30 | ) |
| Purchases of equipment leased to others                                                  | (42 | ) |   | (52 | ) |
| Proceeds from sales of property and equipment                                            | 3 |  |   | 3 |  |
| Proceeds from sales of affiliates                                                        | 95 |  |   | — |  |
| Other investing activities                                                               | 1 |  |   | — |  |
| Net cash provided by investing activities                                                | 74 |  |   | 15 |  |
| Cash flows from financing activities                                                     |   |   |   |
| Proceeds from issuance of securitized debt                                               | — |  |   | 16 |  |
| Principal payments on securitized debt                                                   | (22 | ) |   | (16 | ) |
| Net change in secured revolving credit facilities                                        | 48 |  |   | (150 | ) |
| Proceeds from issuance of non-securitized debt                                           | 27 |  |   | 2,747 |  |
| Principal payments on non-securitized debt                                               | (61 | ) |   | (2,521 | ) |
| Net change in notes and debt outstanding under revolving credit facilities               | 83 |  |   | (38 | ) |
| Debt issuance costs                                                                      | (1 | ) |   | (33 | ) |
| Proceeds from financed lease obligations                                                 | 6 |  |   | 16 |  |
| Proceeds from exercise of stock options                                                  | 1 |  |   | 4 |  |
| Dividends paid by subsidiaries to non-controlling interest                               | (8 | ) |   | (7 | ) |
| Other financing activities                                                               | — |  |   | (12 | ) |
| Net cash provided by financing activities                                                | 73 |  |   | 6 |  |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash            | (3 | ) |   | 2 |  |
| Decrease in cash, cash equivalents and restricted cash                                   | (96 | ) |   | (53 | ) |
| Cash, cash equivalents and restricted cash at beginning of the period                    | 1,445 |  |   | 840 |  |
| Cash, cash equivalents and restricted cash at end of the period                          | $ | 1,349 |  |   | $ | 787 |  |

----

|                                                        |
|--------------------------------------------------------|
|                                                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (in millions)                                          | Truck |   | Parts |   | Global Operations |   | FinancialServices(A) |   | CorporateandEliminations |   | Total |
| Three Months Ended January 31, 2019                    |   |   |   |   |   |   |   |   |   |   |   |
| External sales and revenues, net                       | $ | 1,776 |  |   | $ | 546 |  |   | $ | 61 |  |   | $ | 47 |  |   | $ | 3 |  |   | $ | 2,433 |  |
| Intersegment sales and revenues                        | 21 |  |   | 2 |  |   | 12 |  |   | 27 |  |   | (62 | ) |   | — |  |
| Total sales and revenues, net                          | $ | 1,797 |  |   | $ | 548 |  |   | $ | 73 |  |   | $ | 74 |  |   | $ | (59 | ) |   | $ | 2,433 |  |
| Net income (loss) attributable to NIC                  | $ | 90 |  |   | $ | 144 |  |   | $ | 6 |  |   | $ | 31 |  |   | $ | (260 | ) |   | $ | 11 |  |
| Income tax benefit                                     | — |  |   | — |  |   | — |  |   | — |  |   | 19 |  |   | 19 |  |
| Segment profit (loss)                                  | $ | 90 |  |   | $ | 144 |  |   | $ | 6 |  |   | $ | 31 |  |   | $ | (279 | ) |   | $ | (8 | ) |
| Depreciation and amortization                          | $ | 26 |  |   | $ | 1 |  |   | $ | 2 |  |   | $ | 16 |  |   | $ | 3 |  |   | $ | 48 |  |
| Interest expense                                       | — |  |   | — |  |   | — |  |   | 29 |  |   | 56 |  |   | 85 |  |
| Equity in income (loss) of non-consolidated affiliates | 1 |  |   | 1 |  |   | (1 | ) |   | — |  |   | (1 | ) |   | — |  |
| Capital expenditures(B)                                | 31 |  |   | 2 |  |   | 1 |  |   | 1 |  |   | 9 |  |   | 44 |  |

|                                                                   |
|-------------------------------------------------------------------|
|                                                                   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (in millions)                                                     | Truck |   | Parts |   | Global Operations |   | FinancialServices(A) |   | CorporateandEliminations |   | Total |
| Three Months Ended January 31, 2018                               |   |   |   |   |   |   |   |   |   |   |   |
| External sales and revenues, net                                  | $ | 1,228 |  |   | $ | 564 |  |   | $ | 72 |  |   | $ | 38 |  |   | $ | 3 |  |   | $ | 1,905 |  |
| Intersegment sales and revenues                                   | 23 |  |   | 4 |  |   | 9 |  |   | 21 |  |   | (57 | ) |   | — |  |
| Total sales and revenues, net                                     | $ | 1,251 |  |   | $ | 568 |  |   | $ | 81 |  |   | $ | 59 |  |   | $ | (54 | ) |   | $ | 1,905 |  |
| Net income (loss) attributable to NIC                             | $ | (7 | ) |   | $ | 137 |  |   | $ | (7 | ) |   | $ | 20 |  |   | $ | (216 | ) |   | $ | (73 | ) |
| Income tax expense                                                | — |  |   | — |  |   | — |  |   | — |  |   | (15 | ) |   | (15 | ) |
| Segment profit (loss)                                             | $ | (7 | ) |   | $ | 137 |  |   | $ | (7 | ) |   | $ | 20 |  |   | $ | (201 | ) |   | $ | (58 | ) |
| Depreciation and amortization                                     | $ | 35 |  |   | $ | 2 |  |   | $ | 3 |  |   | $ | 13 |  |   | $ | 2 |  |   | $ | 55 |  |
| Interest expense                                                  | — |  |   | — |  |   | — |  |   | 21 |  |   | 58 |  |   | 79 |  |
| Equity in income (loss) of non-consolidated affiliates            | — |  |   | 1 |  |   | (1 | ) |   | — |  |   | — |  |   | — |  |
|        Capital expenditures(B) | 25 |  |   | — |  |   | 1 |  |   | — |  |   | 4 |  |   | 30 |  |

|                        |
|------------------------|
|                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (in millions)          | Truck |   | Parts |   | Global Operations |   | FinancialServices |   | CorporateandEliminations |   | Total |
| Segment assets, as of: |   |   |   |   |   |   |   |   |   |   |   |
| January 31, 2019       | $ | 2,031 |  |   | $ | 676 |  |   | $ | 316 |  |   | $ | 2,618 |  |   | $ | 1,396 |  |   | $ | 7,037 |  |
| October 31, 2018       | 2,085 |  |   | 636 |  |   | 331 |  |   | 2,648 |  |   | 1,530 |  |   | 7,230 |  |

|     |                                                                                                                                                                                                 |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (A) | Total sales and revenues in the Financial Services segment include interest revenues of $53 million and $41 million for the three months ended January 31, 2019 and 2018, respectively. |

|     |                                                       |
|-----|-------------------------------------------------------|
| (B) | Exclusive of purchases of equipment leased to others. |

----

|                                       |
|---------------------------------------|
|                                       |  |  |  |  |  |  |  |
|                                  | Three Months Ended January 31, |
| (in millions)                         | 2019 |   | 2018 |
| Net income (loss) attributable to NIC | $ | 11 |  |   | $ | (73 | ) |
| Plus:                                 |   |   |   |
| Depreciation and amortization expense | 48 |  |   | 55 |  |
| Manufacturing interest expense(A)     | 56 |  |   | 58 |  |
| Adjusted for:                         |   |   |   |
| Income tax benefit (expense)          | 19 |  |   | (15 | ) |
| EBITDA                                | $ | 96 |  |   | $ | 55 |  |

|     |                                                                                                                                                                                                                                                                                                                                                     |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (A) | Manufacturing interest expense is the net interest expense primarily generated for borrowings that support the manufacturing and corporate operations, adjusted to eliminate intercompany interest expense with our Financial Services segment. The following table reconciles Manufacturing interest expense to the consolidated interest expense: |

|                                            |
|--------------------------------------------|
|                                            |  |  |  |  |  |  |  |
|                                       | Three Months Ended January 31, |
| (in millions)                              | 2019 |   | 2018 |
| Interest expense                           | $ | 85 |  |   | $ | 79 |  |
| Less:  Financial services interest expense | 29 |  |   | 21 |  |
| Manufacturing interest expense             | $ | 56 |  |   | $ | 58 |  |

----

|                                              |
|----------------------------------------------|
|                                              |  |  |  |  |  |  |  |
|                                         | Three Months Ended January 31, |
| (in millions)                                | 2019 |   | 2018 |
| EBITDA (reconciled above)                    | $ | 96 |  |   | $ | 55 |  |
| Adjusted for significant items of:           |   |   |   |
| Adjustments to pre-existing warranties(A)    | (7 | ) |   | (6 | ) |
| Asset impairment charges(B)                  | 2 |  |   | 2 |  |
| Restructuring of manufacturing operations(C) | — |  |   | (3 | ) |
| EGR product litigation(D)                    | — |  |   | 1 |  |
| Gain on sales(E)                             | (59 | ) |   | — |  |
| Debt refinancing charges(F)                  | — |  |   | 46 |  |
| Pension settlement(G)                        | 142 |  |   | 9 |  |
| Settlement gain(H)                           | (1 | ) |   | — |  |
| Total adjustments                            | 77 |  |   | 49 |  |
| Adjusted EBITDA                              | $ | 173 |  |   | $ | 104 |  |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (A) | Adjustments to pre-existing warranties reflect changes in our estimate of warranty costs for products sold in prior periods. Such adjustments typically occur when claims experience deviates from historic and expected trends. Our warranty liability is generally affected by component failure rates, repair costs, and the timing of failures. Future events and circumstances related to these factors could materially change our estimates and require adjustments to our liability. In addition, new product launches require a greater use of judgment in developing estimates until historical experience becomes available. |

|     |                                                                                                                                                                                                                                                                                           |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (B) | In the first quarter of 2019, we recorded $2 million of asset impairment charges relating to certain assets under operating leases.  In the first quarter of 2018, we recorded $2 million of impairment charges related to the sale of our railcar business in Cherokee, Alabama. |

|     |                                                                                                                              |
|-----|------------------------------------------------------------------------------------------------------------------------------|
| (C) | In the first quarter of 2018, we recorded benefits of $3 million for restructuring in our Truck and Global segments. |

|     |                                                                                                                                                                                |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (D) | In the first quarter of 2018, we recognized an additional charge of $1 million for a jury verdict related to the MaxxForce engine EGR product litigation in our Truck segment. |

|     |                                                                                                                                                                                                                                                                                                                                                                  |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (E) | In the first quarter of 2019, we recognized a gain of $54 million related to the sale of a majority interest in the Navistar Defense business in our Truck segment. In the first quarter of 2019, we also recognized a gain of $5 million related to the sale of our joint venture in China with Anhui Jianghuai Automobile Co in our Global Operations segment. |

|     |                                                                                                                                                                                                                                                                 |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (F) | In the first quarter of 2018, we recorded a charge of $46 million for the write off of debt issuance costs and discounts associated with the repurchase of our previously existing 8.25% Senior Notes and the refinancing of our previously existing Term Loan. |

|     |                                                                                                                                                                                                                                                                                                          |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (G) | In the first quarter of 2019 and 2018, we purchased group annuity contracts for certain retired pension plan participants resulting in plan remeasurements. As a result, we recorded pension settlement accounting charges of $142 million and $9 million, respectively, in Other expense, net. |

|     |                                                                                                                                                                                                                                           |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (H) | In the first quarter of 2019, we recorded interest income of $1 million in Other expense, net derived from the prior year settlement of a business economic loss claim relating to our former Alabama engine manufacturing facility. |

----

|                                                         |
|---------------------------------------------------------|
|                                                         |  |  |  |  |  |  |  |  |  |  |  |
|                                                    | As of January 31, 2019 |
| (in millions)                                           | Manufacturing Operations |   | Financial Services Operations |   | Consolidated Balance Sheet |
| Assets                                                  |   |   |   |   |   |
| Cash and cash equivalents                               | $ | 1,151 |  |   | $ | 50 |  |   | $ | 1,201 |  |
| Marketable securities                                   | 41 |  |   | — |  |   | 41 |  |
| Total cash, cash equivalents, and marketable securities | $ | 1,192 |  |   | $ | 50 |  |   | $ | 1,242 |  |