# EDGAR Filing Document

**Accession Number:** 0001567094
**File Stem:** 0001567094-26-000003
**Filing Date:** 2026-2
**Character Count:** 104769
**Document Hash:** 74f63f3e130230bf20562c4735e95169
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001567094-26-000003.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0001567094-26-000003

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 57

**CONFORMED PERIOD OF REPORT**: 20260217

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Other Events

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CNH Industrial N.V.
- **CENTRAL INDEX KEY:** 0001567094
- **STANDARD INDUSTRIAL CLASSIFICATION:** CONSTRUCTION MACHINERY & EQUIP [3531]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **STATE OF INCORPORATION:** P7
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36085
- **FILM NUMBER:** 26636136

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** CRANES FARM ROAD
- **CITY:** BASILDON, ESSEX
- **PROVINCE COUNTRY:** X0
- **ZIP:** SS14 3AD
- **BUSINESS PHONE:** 011 44 1268 533000

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** CRANES FARM ROAD
- **CITY:** BASILDON, ESSEX
- **PROVINCE COUNTRY:** X0
- **ZIP:** SS14 3AD

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FI CBM Holdings N.V.
- **DATE OF NAME CHANGE:** 20130115

?xml version='1.0' encoding='ASCII'? cnhi-20260217

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

![CNH Corporate Logo.jpg](cnhi-20260217_g1.jpg)

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 OR 15(d)**

**of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): February 17, 2026**

**CNH INDUSTRIAL N.V.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Netherlands** | **001-36085** | **98-1125413** |
| **(State or other jurisdiction of incorporation)** | **(Commission File Number)** | **(I.R.S. Employer Identification No.)** |

---

---

| | |
|:---|:---|
| **Cranes Farm Road, Basildon, Essex, SS14 3AD, United Kingdom** | **N/A** |
| **(Address of principal executive offices)** | **(Zip Code)** |

---

 **+44 2079 251964**

**Registrant's telephone number including area code**

**N/A**

**(Former name, former address and former fiscal year, if changed since last report)**:

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

□Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

□Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

□Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

□Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Shares, par value €0.01 | CNH | New York Stock Exchange  |
| 3.850% Notes due 2027 | CNH27 | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Exchange Act of 1934(§240.12b-2 of this chapter).

Emerging growth company **☐** 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. **☐** 

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**Item 2.02.&nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and Financial Condition.**

On February 17, 2026, CNH Industrial N.V. issued a press release announcing its results of operations for the fourth quarter of 2025 and full year 2025. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

**Item 7.01.**&nbsp;&nbsp;&nbsp;&nbsp;**Regulation FD Disclosure.**

On February 17, 2026, CNH Industrial N.V. made available a presentation providing a review and highlights of its fourth quarter of 2025 and full year 2025 results of operations and related information, which is being made available in connection with a February 17, 2026 investor conference call. A copy of that slide presentation is furnished herewith as Exhibit 99.2 and is incorporated herein by reference.

**Item 9.01. &nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.**

(d) Exhibits.

---

| | |
|:---|:---|
| Exhibit 99.1 | <u>[CNH Industrial's press release dated February 17, 2026, announcing its results of operations for the fourth quarter of 2025](ex991_q425.htm)</u> |
| Exhibit 99.2 | <u>[CNH Industrial N.V. fourth quarter 2025 results review presentation](cnh_2025xq4xfinal.htm)</u> |
| Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | | |
|:---|:---|:---|
| | By: | **CNH INDUSTRIAL N.V.**<br>/s/ Britton Worthen |
| | Name: | **Britton Worthen** |
|  | Title: | *Chief Legal and Compliance Officer* |
| Date: February 17, 2026 |  |  |

---

## Exhibit 99.1

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![cnhcorporatelogo.jpg](cnhcorporatelogo.jpg)![image.jpg](image.jpg)Exhibit 99.1

**CNH Industrial N.V. Reports Fourth Quarter and Full Year 2025 Results**

Fourth quarter consolidated revenues increased 6%; full year revenues declined 9% on lower industry equipment demand

Fourth quarter net income of $89 million; full year net income of $505 million

Full year diluted EPS at $0.41; adjusted diluted EPS at $0.55

Amid persistent agricultural equipment market challenges, the Company is preparing for lower demand levels in 2026 ahead of the start of an expected industry recovery in 2027

**Basildon, UK - February 17, 2026 - CNH Industrial N.V. (NYSE: CNH)** today reported results for the three and twelve months ended December 31, 2025. Fourth quarter net income was $89 million, with diluted earnings per share of $0.07, compared with net income of $176 million and diluted earnings per share of $0.14 in Q4 2024. Consolidated revenues were $5.16 billion in the quarter (up 6% compared to Q4 2024) and Net sales of Industrial Activities were $4.45 billion (up 8% compared to Q4 2024). Net cash provided by operating activities was $945 million, and Industrial Free Cash Flow was $817 million in Q4 2025.

Full year 2025 consolidated revenues were $18.10 billion, down 9% year-over-year, with Net sales of Industrial Activities at $15.35 billion, down 10%. Full year net income was $505 million compared to 2024 net income of $1,259 million. Full year diluted earnings per share was $0.41 compared to $0.99 in 2024. Adjusted net income was $703 million compared to $1,339 million in 2024, with adjusted diluted earnings per share of $0.55 compared to $1.05 in 2024. Full year net cash provided by operating activities was $2,538 million, and Industrial Free Cash Flow was $513 million.

"Despite a challenging market environment, CNH delivered solid progress toward its long-term goals in 2025 and strengthened its foundation for success," said Gerrit Marx, CNH Chief Executive Officer. "We continued reducing dealer inventories, advanced our Quality and Operational Excellence initiatives, and introduced products that directly address the evolving needs of farmers and builders. Our teams executed with discipline, focusing on what we can control while supporting our customers through dynamic economic conditions. As we move into 2026, we remain committed to prudent production planning, purposeful innovation, and delivering superior iron and technology integration. In this industry trough year, while markets are still moving slowly, CNH is moving fast in its transformation and engagement of exceptional colleagues to deliver on our ambitious commitments."

    

**2025 Fourth Quarter Results** 

(all amounts in $ million, comparison vs Q4 2024 - unless otherwise stated)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **US-GAAP** | **US-GAAP** | **US-GAAP** | **US-GAAP** | **US-GAAP** |
| | **Q4 2025** | **Q4 2024** | **Change** | **Change at c.c.**<sup>(1)</sup> |
| Consolidated revenues | 5157 | 4876 | +6% | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;of which Net sales of Industrial Activities | 4451 | 4129 | +8% | 5% |
| Net income | 89 | 176 | (49)% |  |
| Diluted EPS $ | 0.07 | 0.14 | (0.07) |  |
| Cash flow provided by operating activities | 945 | 1692 | (747) |  |

---

---

| | | | |
|:---|:---|:---|:---|
| **NON-GAAP**<sup>(2)</sup> | **NON-GAAP**<sup>(2)</sup> | **NON-GAAP**<sup>(2)</sup> | **NON-GAAP**<sup>(2)</sup> |
| | **Q4 2025** | **Q4 2024** | **Change** |
| Adjusted EBIT of Industrial Activities | 234 | 194 | +21% |
| Adjusted EBIT margin of Industrial Activities | 5.3% | 4.7% | +60 bps |
| Adjusted net income | 246 | 196 | +26% |
| Adjusted diluted EPS $ | 0.19 | 0.15 | +0.04 |
| Free cash flow of Industrial Activities | 817 | 848 | (31) |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Net income was $89 million in Q4 2025 with adjusted net income of $246 million. The primary adjustments in the quarter included $123 million in non-cash pretax impairment charges related to in-process R&D acquired as part of the 2021 Raven acquisition, $62 million in non-cash pretax impairment of investment in Monarch Tractor and other minority holdings, and $8 million in pretax restructuring charges. In comparison, in Q4 2024, CNH reported net income of $176 million with adjusted net income of $196 million. The primary adjustment in Q4 2024 included $24 million in pretax restructuring charges.

Income tax expense was $60 million ($89 million in Q4 2024) with an effective tax rate ("ETR") of 45.5% (36.9% in Q4 2024). The adjusted ETR<sup>(2)</sup> was 28.9% (34.1% in Q4 2024).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Agriculture** | **Agriculture** | **Agriculture** | **Agriculture** | **Agriculture** |
| | **Q4 2025** | **Q4 2024** | **Change** | **Change at c.c.**<sup>(1)</sup> |
| Net sales ($ million) | 3598 | 3411 | +5% | +3% |
| Adjusted EBIT ($ million) | 233 | 244 | (5)% |  |
| Adjusted EBIT margin | 6.5% | 7.2% | (70) bps |  |

---

In North America, fourth quarter industry volume fell 31% year-over-year for tractors over 140 HP and 14% for tractors under 140 HP; combines were down 16%. In Europe, Middle East and Africa ("EMEA"), tractor demand fell 8%, while combine demand rose 40%. In South America, tractor demand fell 8% and combine demand fell 39%. In Asia Pacific, tractor demand increased 19% and combine demand increased 10%.

Agriculture net sales increased 5% for the quarter to $3.6 billion, driven by favorable price realization and positive foreign exchange impacts.

Adjusted EBIT decreased to $233 million ($244 million in Q4 2024), primarily due to tariffs, lower JV results, unfavorable geographic mix, and increased SG&A expenses, partially offset by favorable price realization and lower R&D spending. R&D investments accounted for 5.4% of net sales (6.2% in Q4 2024). Adjusted EBIT margin was 6.5% (7.2% in Q4 2024).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Construction** | **Construction** | **Construction** | **Construction** | **Construction** |
| | **Q4 2025** | **Q4 2024** | **Change** | **Change at c.c.**<sup>(1)</sup> |
| Net sales ($ million) | 853 | 718 | +19% | +17% |
| Adjusted EBIT ($ million) | 5 | 18 | (72)% |  |
| Adjusted EBIT margin | 0.6% | 2.5% | (190) bps |  |

---

Global industry volume for construction equipment increased 5% year-over-year in Q4 2025 for heavy equipment, while light equipment stayed the same. Aggregated demand increased 1% in North America, 7% in EMEA, and 8% in South America, but decreased 1% in Asia Pacific.

Construction net sales increased 19% for the quarter to $853 million, driven by higher shipment volumes and favorable price realization, primarily in North America.

Adjusted EBIT decreased to $5 million ($18 million in Q4 2024), reflecting higher production costs including tariffs, partially offset by higher shipment volumes. Adjusted EBIT margin was 0.6% (2.5% in Q4 2024).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Services** | **Financial Services** | **Financial Services** | **Financial Services** | **Financial Services** |
| | **Q4 2025** | **Q4 2024** | **Change** | **Change at c.c.**<sup>(1)</sup> |
| Revenues ($ million) | 700 | 743 | (6)% | (8)% |
| Net income ($ million) | 109 | 92 | +18% |  |
| Equity at quarter-end ($ million) | 2898 | 2745 | +153 |  |
| Retail loan originations ($ million) | 2822 | 3216 | (394) |  |

---

Financial Services revenues decreased by 6% due to lower yields and reduced average portfolio balances across all regions (except APAC), along with lower equipment sales related to decreased operating lease maturities, partially offset by favorable currency translation.

Net income was $109 million in the fourth quarter of 2025, an increase of $17 million compared to the same quarter of 2024, due to interest margin improvements across all regions, partially offset by higher risk costs in Brazil and lower volumes in North America and EMEA. Results also benefited from a lower effective tax rate, reflecting a more favorable market mix in Latin America and the impact of the prior-year Argentina valuation allowance adjustment.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

The managed portfolio (including unconsolidated joint ventures) was $28.6 billion as of December 31, 2025 (of which retail was 70% and wholesale 30%), up $0.7 billion compared to December 31, 2024 (down $0.8 billion on a constant currency basis).

At December 31, 2025, the receivable balance past due greater than 30 days as a percentage of receivables was 3.1% (1.9% as of December 31, 2024) due to economic and environmental factors impacting farmers, specifically in South America.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Results for the Full Year 2025**

(all amounts $ million, comparison vs FY 2024 - unless otherwise stated)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **US-GAAP** | **US-GAAP** | **US-GAAP** | **US-GAAP** | **US-GAAP** |
| | **FY 2025** | **FY 2024** | **Change** | **Change at c.c.**<sup>(1)</sup> |
| Consolidated revenues | 18095 | 19836 | (9)% | (9)% |
| &nbsp;&nbsp;&nbsp;of which Net sales of Industrial Activities | 15346 | 17060 | (10)% | (10)% |
| Net income | 505 | 1259 | (60)% |  |
| Diluted EPS $ | 0.41 | 0.99 | (0.58) |  |
| Cash flow provided by operating activities | 2538 | 1968 | +570 |  |

---

---

| | | | |
|:---|:---|:---|:---|
| **NON-GAAP**<sup>(2)</sup> | **NON-GAAP**<sup>(2)</sup> | **NON-GAAP**<sup>(2)</sup> | **NON-GAAP**<sup>(2)</sup> |
| | **FY 2025** | **FY 2024** | **Change** |
| Adjusted EBIT of Industrial Activities | 663 | 1404 | (53)% |
| Adjusted EBIT margin of Industrial Activities | 4.3% | 8.2% | (390) bps |
| Adjusted net income | 703 | 1339 | (47)% |
| Adjusted diluted EPS $ | 0.55 | 1.05 | (0.50) |
| Free cash flow of Industrial Activities | 513 | (401) | +914 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Agriculture** | **Agriculture** | **Agriculture** | **Agriculture** | **Agriculture** |
| | **FY 2025** | **FY 2024** | **Change** | **Change at c.c.**<sup>(1)</sup> |
| Net sales | 12390 | 14007 | (12)% | (12)% |
| Adjusted EBIT | 772 | 1470 | (47)% |  |
| Adjusted EBIT margin | 6.2% | 10.5% | (430) bps |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Construction** | **Construction** | **Construction** | **Construction** | **Construction** |
| | **FY 2025** | **FY 2024** | **Change** | **Change at c.c.**<sup>(1)</sup> |
| Net sales | 2956 | 3053 | (3)% | (3)% |
| Adjusted EBIT | 68 | 169 | (60)% |  |
| Adjusted EBIT margin | 2.3% | 5.5% | (320) bps |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Services** | **Financial Services** | **Financial Services** | **Financial Services** | **Financial Services** |
| | **FY 2025** | **FY 2024** | **Change** | **Change at c.c.**<sup>(1)</sup> |
| Revenues | 2720 | 2774 | (2)% | (1)% |
| Net income | 333 | 379 | (12)% |  |

---

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**<u>2026 Outlook</u>**

Farmers continue to face challenging market dynamics, including low commodity prices, high input costs, and an uncertain trade environment. These conditions are expected to further weaken the North American industry demand for agricultural equipment, while some stability in the EMEA region is projected. In the aggregate, the Company forecasts the global industry retail demand to be lower than 2025 levels by another 5%, down to historic trough levels. CNH's Agriculture segment has and will continue to respond to these market dynamics by maintaining low production levels, working with its dealer network to lower channel inventory, pursuing cost efficiencies, and managing rapid changes in trade policies. Agriculture equipment industry demand is expected to resume growth in 2027.

Industry construction equipment demand is forecasted to be flattish in 2026 when compared to 2025, with strength in certain non-residential construction markets offset by persistent weakness in residential construction. CNH's Construction segment will continue to focus on quality, manufacturing efficiencies, and tariff cost offset opportunities.

Consequently, the Company is providing the following 2026 outlook:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Agriculture segment net sales between down 5% and flat year-over-year, including +2% currency translation effects

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Agriculture segment adjusted EBIT margin between 4.5% and 5.5%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Construction segment net sales about flat year-over-year, including +1% currency translation effects

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Construction segment adjusted EBIT margin between 1.0% and 2.0%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Free Cash Flow of Industrial Activities<sup>(4)</sup> between $150 million and $350 million

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted diluted EPS<sup>(4)</sup> between $0.35 to $0.45

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**<u>Notes</u>**

CNH reports quarterly and annual consolidated financial results under U.S. GAAP and annual consolidated financial results under EU-IFRS. The tables and discussion related to the financial results of the Company and its segments shown in this press release are prepared in accordance with U.S. GAAP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.c.c. means at constant currency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.This item is a non-GAAP financial measure. Refer to the "Non-GAAP Financial Information" section of this press release for information regarding non-GAAP financial measures. Refer to the "Supplementary Financial Information" section for the reconciliation between the non-GAAP financial measure and the most comparable GAAP financial measure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Certain financial information in this report has been presented by geographic area. Our geographical regions are: (a) North America; (b) EMEA; (c) South America and (d) Asia Pacific. The geographic designations have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.North America: United States, Canada, and Mexico;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.EMEA: member countries of the European Union, European Free Trade Association, the United Kingdom, Ukraine and Balkans, Türkiye, Uzbekistan, Pakistan, the African continent, and the Middle East;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.South America: Central and South America, and the Caribbean Islands; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.Asia Pacific: Continental Asia (including the India subcontinent), Indonesia, Japan and Oceania.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The Company is unable to provide this reconciliation without unreasonable effort due to the uncertainty and inherent difficulty of predicting the occurrence, the financial impact, and the periods in which the adjustments may be recognized. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results.

**<u>Non-GAAP Financial Information</u>**

CNH monitors its operations through the use of several non-GAAP financial measures. CNH's management believes that these non-GAAP financial measures provide useful and relevant information regarding its operating results and enhance the readers' ability to assess CNH's financial performance and financial position. Management uses these non-GAAP measures to identify operational trends, as well as make decisions regarding future spending, resource allocations and other operational decisions as they provide additional transparency with respect to our core operations. These non-GAAP financial measures have no standardized meaning under U.S. GAAP and are unlikely to be comparable to other similarly titled measures used by other companies and are not intended to be substitutes for measures of financial performance and financial position as prepared in accordance with U.S. GAAP.

CNH's non-GAAP financial measures are defined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted EBIT of Industrial Activities under U.S. GAAP: is defined as net income (loss) before the following items: Income taxes, Financial Services' results, Industrial Activities' interest expenses, net, foreign exchange gains/losses, finance and non-service component of pension and other post-employment benefit costs, restructuring expenses, and certain non-recurring items. In particular, non-recurring items are specifically disclosed items that management considers rare or discrete events that are infrequent in nature and not reflective of on-going operational activities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted EBIT Margin of Industrial Activities: is computed by dividing Adjusted EBIT of Industrial Activities by Net Sales of Industrial Activities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted Net Income (Loss): is defined as net income (loss), less restructuring charges and non-recurring items, after tax.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted Diluted EPS: is computed by dividing Adjusted Net Income (loss) attributable to CNH Industrial N.V. by a weighted-average number of common shares outstanding during the period that takes into consideration potential common shares outstanding deriving from the CNH share-based payment awards, when inclusion is not anti-dilutive. When we provide guidance for adjusted diluted EPS, we do not provide guidance on an earnings per share basis because the GAAP measure will include potentially significant items that have not yet occurred and are difficult to predict with reasonable certainty prior to year-end.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted Income Tax (Expense) Benefit: is defined as income taxes less the tax effect of restructuring expenses and non-recurring items, and non-recurring tax charges or benefits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted Effective Tax Rate ("Adjusted ETR"): is computed by dividing a) adjusted income taxes by b) income (loss) before income taxes and equity in income of unconsolidated affiliates, less restructuring expenses and non-recurring items.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net Cash (Debt) and Net Cash (Debt) of Industrial Activities: Net Cash (Debt) is defined as total debt less intersegment notes receivable, cash and cash equivalents, restricted cash, other current financial assets (primarily current securities, short-term

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

deposits and investments towards high-credit rating counterparties) and derivative hedging debt. CNH provides the reconciliation of Net Cash (Debt) to Total (Debt), which is the most directly comparable measure included in the consolidated balance sheets. Due to different sources of cash flows used for the repayment of the debt between Industrial Activities and Financial Services (by cash from operations for Industrial Activities and by collection of financing receivables for Financial Services), management separately evaluates the cash flow performance of Industrial Activities using Net Cash (Debt) of Industrial Activities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Free Cash Flow of Industrial Activities ("Industrial Free Cash Flow"): refers to Industrial Activities only, and is computed as consolidated cash flow from operating activities less: cash flow from operating activities of Financial Services; investments of Industrial Activities in assets sold under operating leases, property, plant and equipment and intangible assets; change in derivatives hedging debt of Industrial Activities; as well as other changes and intersegment eliminations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Change excl. FX or Constant Currency: CNH discusses the fluctuations in revenues on a constant currency basis by applying the prior year average exchange rates to current year's revenues expressed in local currency in order to eliminate the impact of foreign exchange rate fluctuations.

*Refer to the "Supplementary Financial Information" section of this press release for the reconciliations between the non-GAAP financial measure and the most comparable GAAP financial measure.*

**<u>Forward-looking Statements</u>**

All statements other than statements of historical fact contained in this filing including competitive strengths; business strategy; future financial position or operating results; budgets; projections with respect to revenue, income, earnings (or loss) per share, capital expenditures, dividends, liquidity, capital structure or other financial items; costs; and plans and objectives of management regarding operations and products, are forward-looking statements. Forward-looking statements also include statements regarding the future performance of CNH and its subsidiaries on a standalone basis. These statements may include terminology such as "may", "will", "expect", "could", "should", "intend", "estimate", "anticipate", "believe", "outlook", "continue", "remain", "on track", "design", "target", "objective", "goal", "forecast", "projection", "prospects", "plan", or similar terminology. Forward-looking statements are not guarantees of future performance. Rather, they are based on current views and assumptions and involve known and unknown risks, uncertainties and other factors, many of which are outside our control and are difficult to predict. If any of these risks and uncertainties materialize (or they occur with a degree of severity that the Company is unable to predict) or other assumptions underlying any of the forward-looking statements prove to be incorrect, including any assumptions regarding strategic plans, the actual results or developments may differ materially from any future results or developments expressed or implied by the forward-looking statements.

Factors, risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements include, among others: economic conditions in each of our markets, including the significant uncertainty caused by geopolitical events; production and supply chain disruptions, including industry capacity constraints, material availability, and global logistics delays and constraints; the many interrelated factors that affect consumer confidence and worldwide demand for capital goods and capital goods related products, particularly as it relates to the agricultural market business cycle; changes in government policies regarding banking, monetary and fiscal policy; legislation, particularly pertaining to capital goods related issues such as agriculture, the environment, debt relief and subsidy program policies, trade, commerce and infrastructure development; government policies on international trade and investment, including sanctions, import quotas, capital controls, tariffs and other protective measures issued to promote national interests or address foreign competition, which in turn result or may result in retaliatory tariffs or other measures enacted by affected trade partners; volatility in international trade caused by the imposition of tariffs and the related impact on cost and prices, which could consequently affect demand of our products, sanctions, embargoes, and trade wars; actions of competitors in the various industries in which we compete; development and use of new technologies (including artificial intelligence) and technological difficulties; the interpretation of, or adoption of new, compliance requirements with respect to engine emissions, safety, privacy and data security or other aspects of our products; labor relations; interest rates and currency exchange rates; inflation and deflation; energy prices; prices for agricultural commodities and material price increases; housing starts and other construction activity; weather conditions, particularly to the extent it impacts the agricultural industry; our ability to obtain financing or to refinance existing debt; price pressure on new and used equipment; the resolution of pending litigation and investigations on a wide range of topics, including dealer and supplier litigation, intellectual property rights disputes, product warranty and defective product claims, and emissions and/or fuel economy regulatory and contractual issues; security breaches, cybersecurity attacks, technology failures, and other disruptions to the information technology infrastructure of CNH and its suppliers and dealers; security breaches with respect to our products; our pension plans and other postemployment obligations; political and civil unrest; volatility and deterioration of capital and financial markets, including pandemics, terrorist attacks in Europe and elsewhere; the remediation of a material weakness; our ability to realize the anticipated benefits from our business initiatives as part of our strategic plan; including targeted restructuring actions to optimize our cost structure and improve the efficiency of our operations; our failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures, strategic alliances or divestitures and other similar risks and uncertainties, and our success in managing the risks involved in the foregoing.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Forward-looking statements are based upon assumptions relating to the factors described in this filing, which are sometimes based upon estimates and data received from third parties. Such estimates and data are often revised. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside CNH's control. CNH expressly disclaims any intention or obligation to provide, update or revise any forward-looking statements in this document to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based.

Further information concerning CNH, including factors that potentially could materially affect its financial results, is included in the Company's reports and filings with the U.S. Securities and Exchange Commission ("SEC").

All future written and oral forward-looking statements by CNH or persons acting on the behalf of CNH are expressly qualified in their entirety by the cautionary statements contained herein or referred to above.

Additional factors could cause actual results to differ from those expressed or implied by the forward-looking statements included in the Company's filings with the SEC (including, but not limited to, the factors discussed in our most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q).

**<u>Conference Call and Webcast</u>**

Today, at 9:00 a.m. EST, management will hold a conference call to present fourth quarter and full year 2025 results to financial analysts and institutional investors. The call can be followed live online at bit.ly/CNH_Q4FY_2025 and a recording will be available later on the Company's website www.cnh.com. A presentation will be made available on the CNH website prior to the conference call.

**<u>CONTACTS</u>**

**Media Inquiries** – Laura Overall +44 207 925 1964 or Rebecca Fabian +1 312 515 2249

(Email <u>mediarelations@cnh.com</u>)

**Investor Relations** – Jason Omerza +1 630 740 8079 or Federico Pavesi +39 345 605 6218

(Email <u>investor.relations@cnh.com</u>)

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**CNH INDUSTRIAL N.V.**

**Consolidated Statements of Operations for the Three Months and Years Ended December 31, 2025 and 2024** 

*(Unaudited)*

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| ($ million) | **2025** | **2024** | **2025** | **2024** |
| **Revenues** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net sales | $4451 | $4129 | $15346 | $17060 |
| &nbsp;&nbsp;&nbsp;Finance, interest and other income | 706 | 747 | 2749 | 2776 |
| **Total Revenues** | **5157** | **4876** | **18095** | **19836** |
| **Costs and Expenses** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cost of goods sold | 3633 | 3323 | 12389 | 13350 |
| &nbsp;&nbsp;&nbsp;Selling, general and administrative expenses | 463 | 414 | 1876 | 1712 |
| &nbsp;&nbsp;&nbsp;Research and development expenses | 342 | 238 | 1025 | 924 |
| &nbsp;&nbsp;&nbsp;Restructuring expenses | 8 | 24 | 22 | 118 |
| &nbsp;&nbsp;&nbsp;Interest expense | 382 | 421 | 1482 | 1611 |
| &nbsp;&nbsp;&nbsp;Other, net | 197 | 215 | 681 | 664 |
| **Total Costs and Expenses** | **5025** | **4635** | **17475** | **18379** |
| Consolidated income before income taxes | 132 | 241 | 620 | 1457 |
| Income tax expense | (60) | (89) | (184) | (336) |
| Equity in income of unconsolidated affiliates | 17 | 24 | 69 | 138 |
| **Net Income** | **89** | **176** | **505** | **1259** |
| Net income (loss) attributable to noncontrolling interests | 3 | 3 | (5) | 13 |
| **Net Income attributable to CNH Industrial N.V.** | $**86** | $**173** | $**510** | $**1246** |
| **Earnings per share attributable to CNH Industrial N.V.**  |  |  |  |  |
| Basic | $0.07 | $0.14 | $0.41 | $0.99 |
| Diluted | $0.07 | $0.14 | $0.41 | $0.99 |
| **Weighted average shares outstanding** (in millions) |  |  |  |  |
| Basic | 1244 | 1248 | 1248 | 1254 |
| Diluted | 1247 | 1253 | 1251 | 1260 |
| **Cash dividends declared per common share** | $**—** | $**—** | $**0.250** | $**0.470** |

---

These Consolidated Statements of Operations should be read in conjunction with the Company's Audited Consolidated Financial Statements and Notes for the year ended December 31, 2024 included in the Annual Report on Form 10-K. These Consolidated Statements of Operations represent the consolidation of all CNH Industrial N.V. subsidiaries.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**CNH INDUSTRIAL N.V.**

**Consolidated Balance Sheets as of December 31, 2025 and 2024**

*(Unaudited)*

---

| | | |
|:---|:---|:---|
| ($ million) | **December 31, 2025** | **December 31, 2024** |
| **Assets** |  |  |
| Cash and cash equivalents | $2578 | $3191 |
| Restricted cash | 651 | 675 |
| Financing receivables, net | 23105 | 23085 |
| Receivables from Iveco Group N.V. | 195 | 168 |
| Inventories, net | 4651 | 4776 |
| Property, plant and equipment, net and Equipment under operating leases | 3772 | 3402 |
| Intangible assets, net | 4703 | 4805 |
| Other receivables and assets | 3092 | 2831 |
| **Total Assets** | $**42747** | $**42933** |
| **Liabilities and Equity** |  |  |
| Debt | $26762 | $26882 |
| Payables to Iveco Group N.V. | 91 | 62 |
| Other payables and liabilities | 8069 | 8221 |
| **Total Liabilities** | **34922** | **35165** |
| Redeemable noncontrolling interest | 53 | 55 |
| Equity | 7772 | 7713 |
| **Total Liabilities and Equity** | $**42747** | $**42933** |

---

These Consolidated Balance Sheets should be read in conjunction with the Company's Audited Consolidated Financial Statements and Notes for the year ended December 31, 2024 included in the Annual Report on Form 10-K. These Consolidated Balance Sheets represent the consolidation of all CNH Industrial N.V. subsidiaries.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**CNH INDUSTRIAL N.V.**

**Consolidated Statement of Cash Flows for the Years Ended December 31, 2025 and 2024** 

*(Unaudited)*

---

| | | |
|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** |
| ($ million) | **2025** | **2024** |
| **Cash Flows from Operating Activities** |  |  |
| Net income  | $505 | $1259 |
| Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization expense excluding assets under operating leases | 432 | 417 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization expense of assets under operating leases | 197 | 188 |
| &nbsp;&nbsp;&nbsp;&nbsp;Undistributed (income) loss of unconsolidated affiliates | 17 | (11) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other non-cash items | 647 | 340 |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Provisions | (336) | (204) |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | (198) | (107) |
| &nbsp;&nbsp;&nbsp;&nbsp;Trade and financing receivables related to sales, net | 708 | 1015 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories, net | 749 | 787 |
| &nbsp;&nbsp;&nbsp;&nbsp;Trade payables | (198) | (1186) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets and liabilities | 15 | (530) |
| Net cash provided by operating activities | 2538 | 1968 |
| **Cash Flows from Investing Activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Additions to retail receivables | (7554) | (8227) |
| &nbsp;&nbsp;&nbsp;&nbsp;Collections of retail receivables | 7508 | 6459 |
| &nbsp;&nbsp;&nbsp;&nbsp;Expenditures for property, plant and equipment and intangible assets, net of assets under operating leases | (543) | (536) |
| &nbsp;&nbsp;&nbsp;&nbsp;Expenditures for assets under operating leases | (655) | (650) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | (136) | 182 |
| Net cash used in investing activities | (1380) | (2772) |
| **Cash Flows from Financing Activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in debt | (1587) | 1242 |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends paid | (333) | (607) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | (100) | (702) |
| Net cash used in financing activities | (2020) | (67) |
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | 225 | (308) |
| **Net decrease in cash, cash equivalents and restricted cash** | **(637)** | **(1179)** |
| **Cash, cash equivalents and restricted cash, beginning of year** | **3866** | **5045** |
| **Cash, cash equivalents and restricted cash, end of period** | $**3229** | $**3866** |

---

These Consolidated Statements of Cash Flows should be read in conjunction with the Company's Audited Consolidated Financial Statements and Notes for the year ended December 31, 2024 included in the Annual Report on Form 10-K. These Consolidated Statements of Cash Flows represent the consolidation of all CNH Industrial N.V. subsidiaries.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**CNH INDUSTRIAL N.V.**

**Supplemental Statements of Operations for the Three Months Ended December 31, 2025 and 2024** 

*(Unaudited)*

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended December 31, 2025** | **Three Months Ended December 31, 2025** | **Three Months Ended December 31, 2025** | **Three Months Ended December 31, 2025** | **Three Months Ended December 31, 2025** | **Three Months Ended December 31, 2024** | **Three Months Ended December 31, 2024** | **Three Months Ended December 31, 2024** | **Three Months Ended December 31, 2024** | **Three Months Ended December 31, 2024** |
| ($ million) | **Industrial Activities**<sup>(1)</sup> | **Financial Services** | **Eliminations** |  | **Consolidated** | **Industrial Activities**<sup>(1)</sup> | **Financial Services** | **Eliminations** |  | **Consolidated** |
| **Revenues** |  |  |  |  |  |  |  |  |  |  |
| Net sales | $4451 | $— | $— |  | $4451 | $4129 | $— | $— |  | $4129 |
| Finance, interest and other income | 34 | 700 | (28) | (2) | 706 | 32 | 743 | (28) | (2) | 747 |
| **Total Revenues** | **4485** | **700** | **(28)** |  | **5157** | **4161** | **743** | **(28)** |  | **4876** |
| **Costs and Expenses** |  |  |  |  |  |  |  |  |  |  |
| Cost of goods sold | 3633 |  |  |  | 3633 | 3323 |  |  |  | 3323 |
| Selling, general and administrative expenses | 377 | 86 |  |  | 463 | 351 | 63 |  |  | 414 |
| Research and development expenses | 342 |  |  |  | 342 | 238 |  |  |  | 238 |
| Restructuring expenses | 8 |  |  |  | 8 | 24 |  |  |  | 24 |
| Interest expense | 71 | 339 | (28) | (3) | 382 | 70 | 379 | (28) | (3) | 421 |
| Other, net | 53 | 144 |  |  | 197 | 56 | 159 |  |  | 215 |
| **Total Costs and Expenses** | **4484** | **569** | **(28)** |  | **5025** | **4062** | **601** | **(28)** |  | **4635** |
| Consolidated income before income taxes | 1 | 131 |  |  | 132 | 99 | 142 |  |  | 241 |
| Income tax expense | (32) | (28) |  |  | (60) | (34) | (55) |  |  | (89) |
| Equity in income of unconsolidated affiliates | 11 | 6 |  |  | 17 | 19 | 5 |  |  | 24 |
| **Net Income (loss)** | $**(20)** | $**109** | $**—** |  | $**89** | $**84** | $**92** | $**—** |  | $**176** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;Industrial Activities represents the enterprise without Financial Services. Industrial Activities includes the Company's Agriculture and Construction segments, and other corporate assets, liabilities, revenues and expenses not reflected within Financial Services.

&nbsp;&nbsp;&nbsp;&nbsp;(2) &nbsp;&nbsp;&nbsp;&nbsp;Elimination of Financial Services' interest income earned from Industrial Activities.

&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;Elimination of Industrial Activities' interest expense to Financial Services.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**CNH INDUSTRIAL N.V.**

**Supplemental Statements of Operations for the Years Ended December 31, 2025 and 2024**

*(Unaudited)*

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** |
| ($ million) | **Industrial Activities**<sup>(1)</sup> | **Financial Services** | **Eliminations** |  | **Consolidated** | **Industrial Activities**<sup>(1)</sup> | **Financial Services** | **Eliminations** |  | **Consolidated** |
| **Revenues** |  |  |  |  |  |  |  |  |  |  |
| Net sales | $15346 | $— | $— |  | $15346 | $17060 | $— | $— |  | $17060 |
| Finance, interest and other income | 141 | 2720 | (112) | (2) | 2749 | 130 | 2774 | (128) | (2) | 2776 |
| **Total Revenues** | **15487** | **2720** | **(112)** |  | **18095** | **17190** | **2774** | **(128)** |  | **19836** |
| **Costs and Expenses** |  |  |  |  |  |  |  |  |  |  |
| Cost of goods sold | 12389 |  |  |  | 12389 | 13350 |  |  |  | 13350 |
| Selling, general and administrative expenses | 1427 | 449 |  |  | 1876 | 1380 | 332 |  |  | 1712 |
| Research and development expenses | 1025 |  |  |  | 1025 | 924 |  |  |  | 924 |
| Restructuring expenses | 23 | (1) |  |  | 22 | 117 | 1 |  |  | 118 |
| Interest expense | 255 | 1339 | (112) | (3) | 1482 | 282 | 1457 | (128) | (3) | 1611 |
| Other, net | 156 | 525 |  |  | 681 | 150 | 514 |  |  | 664 |
| **Total Costs and Expenses** | **15275** | **2312** | **(112)** |  | **17475** | **16203** | **2304** | **(128)** |  | **18379** |
| Consolidated income before income taxes | 212 | 408 |  |  | 620 | 987 | 470 |  |  | 1457 |
| Income tax expense | (88) | (96) |  |  | (184) | (226) | (110) |  |  | (336) |
| Equity in income of unconsolidated affiliates | 48 | 21 |  |  | 69 | 119 | 19 |  |  | 138 |
| **Net Income**  | $**172** | $**333** | $**—** |  | $**505** | $**880** | $**379** | $**—** |  | $**1259** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;Industrial Activities represents the enterprise without Financial Services. Industrial Activities includes the Company's Agriculture and Construction segments, and other corporate assets, liabilities, revenues and expenses not reflected within Financial Services.

&nbsp;&nbsp;&nbsp;&nbsp;(2) &nbsp;&nbsp;&nbsp;&nbsp;Elimination of Financial Services' interest income earned from Industrial Activities.

&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;Elimination of Industrial Activities' interest expense to Financial Services.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**CNH INDUSTRIAL N.V.**

**Supplemental Balance Sheets as of December 31, 2025 and 2024**

*(Unaudited)*

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| ($ million) | **Industrial Activities**<sup>(1)</sup> | **Financial Services** | **Eliminations** |  | **Consolidated** | **Industrial Activities**<sup>(1)</sup> | **Financial Services** | **Eliminations** |  | **Consolidated** |
| **Assets** |  |  |  |  |  |  |  |  |  |  |
| Cash and cash equivalents | $1932 | $646 | $— |  | $2578 | $2332 | $859 | $— |  | $3191 |
| Restricted cash | 109 | 542 |  |  | 651 | 89 | 586 |  |  | 675 |
| Financing receivables, net | 141 | 23363 | (399) | (2) | 23105 | 218 | 23528 | (661) | (2) | 23085 |
| Receivables from Iveco Group N.V. | 142 | 53 |  |  | 195 | 50 | 118 |  |  | 168 |
| Inventories, net | 4564 | 87 |  |  | 4651 | 4713 | 63 |  |  | 4776 |
| Property, plant and equipment, net and Equipment on operating leases | 2199 | 1573 |  |  | 3772 | 1979 | 1423 |  |  | 3402 |
| Intangible assets, net | 4533 | 170 |  |  | 4703 | 4643 | 162 |  |  | 4805 |
| Other receivables and assets | 2707 | 580 | (195) | (3) | 3092 | 2653 | 515 | (337) | (3) | 2831 |
| **Total Assets** | **16327** | **27014** | **(594)** |  | **42747** | **16677** | **27254** | **(998)** |  | $**42933** |
| **Liabilities and Equity** |  |  |  |  |  |  |  |  |  |  |
| Debt | $4385 | $22861 | $(484) | (2) | $26762 | $4499 | $23173 | $(790) | (2) | $26882 |
| Payables to Iveco Group N.V. | 3 | 88 |  |  | 91 | 4 | 58 |  |  | 62 |
| Other payables and liabilities | 7012 | 1167 | (110) | (3) | 8069 | 7151 | 1278 | (208) | (3) | 8221 |
| Total Liabilities | 11400 | 24116 | (594) |  | 34922 | 11654 | 24509 | (998) |  | 35165 |
| Redeemable noncontrolling interest | 53 |  |  |  | 53 | 55 |  |  |  | 55 |
| Equity | 4874 | 2898 |  |  | 7772 | 4968 | 2745 |  |  | 7713 |
| **Total Liabilities and Equity** | $**16327** | $**27014** | $**(594)** |  | $**42747** | $**16677** | $**27254** | $**(998)** |  | $**42933** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;Industrial Activities represents the enterprise without Financial Services. Industrial Activities includes the Company's Agriculture and Construction segments, and other corporate assets, liabilities, revenues and expenses not reflected within Financial Services.

&nbsp;&nbsp;&nbsp;&nbsp;(2) &nbsp;&nbsp;&nbsp;&nbsp;This item includes the elimination of receivables/payables between Industrial Activities and Financial Services.

&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;This item primarily represents the reclassification of deferred tax assets/liabilities in the same taxing jurisdiction and elimination of intercompany activity between Industrial Activities and Financial Services.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**CNH INDUSTRIAL N.V.**

**Supplemental Statements of Cash Flows for the Years Ended December 31, 2025 and 2024**

*(Unaudited)*

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** |
| ($ million) | **Industrial Activities**<sup>(1)</sup> | **Financial Services** | **Eliminations** |  | **Consolidated** | **Industrial Activities**<sup>(1)</sup> | **Financial Services** | **Eliminations** |  | **Consolidated** |
| **Cash Flows from Operating Activities** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income | $172 | $333 | $— |  | $505 | $880 | $379 | $— |  | $1259 |
| Adjustments to reconcile net income to net cash provided (used) by operating activities: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization expense excluding assets under operating leases | 427 | 5 |  |  | 432 | 413 | 4 |  |  | 417 |
| Depreciation and amortization expense of assets under operating leases | 4 | 193 |  |  | 197 | 8 | 180 |  |  | 188 |
| Undistributed (income) loss of unconsolidated affiliates | 302 | (21) | (264) | (2) | 17 | 291 | (19) | (283) | (2) | (11) |
| Other non-cash items, net | 297 | 350 |  |  | 647 | 74 | 266 |  |  | 340 |
| Changes in operating assets and liabilities: |  |  |  |  |  |  |  |  |  |  |
| Provisions | (340) | 4 |  |  | (336) | (204) |  |  |  | (204) |
| Deferred income taxes | (109) | (89) |  |  | (198) | (38) | (69) |  |  | (107) |
| Trade and financing receivables related to sales, net | (78) | 783 | 3 | (3) | 708 | 3 | 1016 | (4) | (3) | 1015 |
| Inventories, net | 434 | 315 |  |  | 749 | 472 | 315 |  |  | 787 |
| Trade payables | (199) | 5 | (4) | (3) | (198) | (1173) | (17) | 4 | (3) | (1186) |
| Other assets and liabilities | 143 | (129) | 1 | (3) | 15 | (564) | 34 |  |  | (530) |
| Net cash provided (used) by operating activities | 1053 | 1749 | (264) |  | 2538 | 162 | 2089 | (283) |  | 1968 |
| **Cash Flows from Investing Activities** |  |  |  |  |  |  |  |  |  |  |
| Additions to retail receivables |  | (7554) |  |  | (7554) |  | (8227) |  |  | (8227) |
| Collections of retail receivables |  | 7508 |  |  | 7508 |  | 6459 |  |  | 6459 |
| Expenditures for property, plant and equipment and intangible assets excluding assets under operating leases | (530) | (13) |  |  | (543) | (533) | (3) |  |  | (536) |
| Expenditures for assets under operating leases |  | (655) |  |  | (655) | (31) | (619) |  |  | (650) |
| Other | (249) | 113 |  |  | (136) | 587 | (431) | 26 |  | 182 |
| Net cash provided (used) by investing activities | (779) | (601) |  |  | (1380) | 23 | (2821) | 26 |  | (2772) |
| **Cash Flows from Financing Activities** |  |  |  |  |  |  |  |  |  |  |
| Net increase (decrease) in debt | (396) | (1191) |  |  | (1587) | 137 | 1105 |  |  | 1242 |
| Dividends paid | (333) | (264) | 264 | (2) | (333) | (607) | (283) | 283 | (2) | (607) |
| Other | (100) |  |  |  | (100) | (702) | 26 | (26) |  | (702) |
| Net cash provided (used) by financing activities | (829) | (1455) | 264 |  | (2020) | (1172) | 848 | 257 |  | (67) |
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | 175 | 50 |  |  | 225 | (220) | (88) |  |  | (308) |
| **Net increase (decrease) in cash, cash equivalents and restricted cash** | **(380)** | **(257)** | **—** |  | **(637)** | **(1207)** | **28** | **—** |  | **(1179)** |
| **Cash, cash equivalents and restricted cash, beginning of year** | **2421** | **1445** | **—** |  | **3866** | **3628** | **1417** | **—** |  | **5045** |
| **Cash, cash equivalents and restricted cash, end of period** | $**2041** | $**1188** | $**—** |  | $**3229** | $**2421** | $**1445** | $**—** |  | $**3866** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;Industrial Activities represents the enterprise without Financial Services. Industrial Activities includes the Company's Agriculture and Construction segments, and other corporate assets, liabilities, revenues and expenses not reflected within Financial Services.

&nbsp;&nbsp;&nbsp;&nbsp;(2) &nbsp;&nbsp;&nbsp;&nbsp;This item includes the elimination of dividends from Financial Services to Industrial Activities, which are included in Industrial Activities net cash provided (used) by operating activities.

&nbsp;&nbsp;&nbsp;&nbsp;(3) &nbsp;&nbsp;&nbsp;&nbsp;This item includes the elimination of certain minor activities between Industrial Activities and Financial Services.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**CNH Industrial N.V.** 

**Supplementary Financial Information**

*(Unaudited)*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Adjusted EBIT of Industrial Activities by Segment** | **Adjusted EBIT of Industrial Activities by Segment** | **Adjusted EBIT of Industrial Activities by Segment** | **Adjusted EBIT of Industrial Activities by Segment** | **Adjusted EBIT of Industrial Activities by Segment** |
| | **Three Months Ended<br>December 31,** | **Three Months Ended<br>December 31,** | **Year Ended <br>December 31,** | **Year Ended <br>December 31,** |
| ($ million) | **2025** | **2024** | **2025** | **2024** |
| Industrial Activities segments |  |  |  |  |
| Agriculture | $233 | $244 | $772 | $1470 |
| Construction | 5 | 18 | 68 | 169 |
| Unallocated items, eliminations and other | (4) | (68) | (177) | (235) |
| **Total Adjusted EBIT of Industrial Activities** | $**234** | $**194** | $**663** | $**1404** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Reconciliation of Consolidated Net Income under U.S. GAAP to Adjusted EBIT of Industrial Activities** | **Reconciliation of Consolidated Net Income under U.S. GAAP to Adjusted EBIT of Industrial Activities** | **Reconciliation of Consolidated Net Income under U.S. GAAP to Adjusted EBIT of Industrial Activities** | **Reconciliation of Consolidated Net Income under U.S. GAAP to Adjusted EBIT of Industrial Activities** | **Reconciliation of Consolidated Net Income under U.S. GAAP to Adjusted EBIT of Industrial Activities** |
| | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Year Ended <br>December 31,** | **Year Ended <br>December 31,** |
| ($ million) | **2025** | **2024** | **2025** | **2024** |
| **Net Income** | $**89** | $**176** | $**505** | $**1259** |
| Less: Consolidated income tax expense | (60) | (89) | (184) | (336) |
| **Consolidated income before taxes** | **149** | **265** | **689** | **1595** |
| Less: Financial Services |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Services Net Income | 109 | 92 | 333 | 379 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Services Income Taxes | 28 | 55 | 96 | 110 |
| Add back of the following Industrial Activities items: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense of Industrial Activities, net of Interest income and eliminations | 37 | 38 | 114 | 152 |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign exchange losses, net of Industrial Activities | 3 | 3 | 22 | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;Finance and non-service component of Pension and other post-employment benefit costs of Industrial Activities<sup>(1)</sup> | (11) | 8 |  | 10 |
| Adjustments for the following Industrial Activities items: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring expenses | 8 | 24 | 23 | 117 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other discrete items<sup>(2)(3)</sup> | 185 | 3 | 244 | 4 |
| **Total Adjusted EBIT of Industrial Activities** | $**234** | $**194** | $**663** | $**1404** |

---

(1) In the three months ended December 31, 2025 and 2024, this item includes the pre-tax gain of $3 million and $6 million, respectively, as a result of the amortization over the 4 years of the $101 million positive impact from the 2021 U.S. healthcare plan modification. In the year ended December 31, 2025 and 2024, this item includes the pre-tax gain of $21 million and $24 million, respectively, as a result of the amortization over the 4 years of the $101 million positive impact from the 2021 U.S. healthcare plan modification.

(2) In the three months ended December 31, 2025, this item includes non-cash impairment charges of $123 million related to Raven IPR&D and $62 million for non-cash impairment of investment in Monarch Tractor and other minority holdings. In the year ended December 31, 2025, this item also includes a $49 million impairment for Bennamann IPR&D and a $10 million inventory write-down for the New Holland T6.180 Methane Power Tractor.

(3) In the three months ended December 31, 2024, this item includes a loss of $2 million on the sale of certain non-core product lines. In the year ended December 31, 2024, this item includes a $17 million loss on the sale of certain non-core product lines and a $14 million gain for investment fair value adjustments.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**CNH Industrial N.V.** 

**Supplementary Financial Information**

*(Unaudited)*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Reconciliation of Total (Debt) to Net Cash (Debt) under U.S. GAAP** | **Reconciliation of Total (Debt) to Net Cash (Debt) under U.S. GAAP** | **Reconciliation of Total (Debt) to Net Cash (Debt) under U.S. GAAP** | **Reconciliation of Total (Debt) to Net Cash (Debt) under U.S. GAAP** | **Reconciliation of Total (Debt) to Net Cash (Debt) under U.S. GAAP** | **Reconciliation of Total (Debt) to Net Cash (Debt) under U.S. GAAP** | **Reconciliation of Total (Debt) to Net Cash (Debt) under U.S. GAAP** |
| | **Consolidated** | **Consolidated** | **Industrial Activities** | **Industrial Activities** | **Financial Services** | **Financial Services** |
| ($ million) | **December 31, 2025** | **December 31, 2024** | **December 31, 2025** | **December 31, 2024** | **December 31, 2025** | **December 31, 2024** |
| Third party debt | $(26762) | $(26882) | $(4104) | $(4043) | $(22658) | $(22839) |
| Intersegment notes payable |  |  | (281) | (456) | (203) | (334) |
| Payable to Iveco Group N.V. | (91) | (62) | (3) | (4) | (88) | (58) |
| **Total Debt**<sup>(1)</sup> | **(26853)** | **(26944)** | **(4388)** | **(4503)** | **(22949)** | **(23231)** |
| Cash and cash equivalents | 2578 | 3191 | 1932 | 2332 | 646 | 859 |
| Restricted cash | 651 | 675 | 109 | 89 | 542 | 586 |
| Intersegment notes receivable |  |  | 203 | 334 | 281 | 456 |
| Financial Receivables from Iveco Group N.V. | 195 | 168 | 142 | 50 | 53 | 118 |
| Derivatives hedging debt | 2 | (37) | (23) | (29) | 25 | (8) |
| **Net Debt**<sup>(2)</sup>  | $**(23427)** | $**(22947)** | $**(2025)** | $**(1727)** | $**(21402)** | $**(21220)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;Total (Debt) of Industrial Activities includes Intersegment notes payable to Financial Services of $281 million and $456 million as of December 31, 2025 and December 31, 2024, respectively. Total (Debt) of Financial Services includes Intersegment notes payable to Industrial Activities of $203 million and $334 million as of December 31, 2025 and December 31, 2024, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(2) &nbsp;&nbsp;&nbsp;&nbsp;The net intersegment receivable balance recorded by Financial Services relating to Industrial Activities was $78 million and $122 million as of December 31, 2025 and December 31, 2024, respectively.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Reconciliation of Net Cash Provided (Used) by Operating Activities to Free Cash Flow of Industrial Activities under U.S. GAAP**  | **Reconciliation of Net Cash Provided (Used) by Operating Activities to Free Cash Flow of Industrial Activities under U.S. GAAP**  | **Reconciliation of Net Cash Provided (Used) by Operating Activities to Free Cash Flow of Industrial Activities under U.S. GAAP**  | **Reconciliation of Net Cash Provided (Used) by Operating Activities to Free Cash Flow of Industrial Activities under U.S. GAAP**  | **Reconciliation of Net Cash Provided (Used) by Operating Activities to Free Cash Flow of Industrial Activities under U.S. GAAP**  |
| **Year Ended <br>December 31,** | **Year Ended <br>December 31,** | | **Three Months Ended December 31,** | **Three Months Ended December 31,** |
| **2025** | **2024** | ($ million) | **2025** | **2024** |
| $**2538** | $**1968** | **Net cash provided by Operating Activities** | $**945** | $**1692** |
| (1485) | (1806) | &nbsp;&nbsp;&nbsp;Cash flows from Operating Activities of Financial Services, net of eliminations | 72 | (645) |
| 6 | 5 | &nbsp;&nbsp;&nbsp;Change in derivatives hedging debt of Industrial Activities and other | (7) | (7) |
|  | (31) | &nbsp;&nbsp;&nbsp;Investments in assets sold under operating leases assets of Industrial Activities |  | (4) |
| (530) | (533) | &nbsp;&nbsp;&nbsp;Investments in property, plant and equipment, and intangible assets of Industrial Activities | (209) | (204) |
| (16) | (4) | &nbsp;&nbsp;Other changes<sup>(1)</sup> | 16 | 16 |
| $**513** | $**(401)** | **Free cash flow of Industrial Activities** | $**817** | $**848** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) &nbsp;&nbsp;&nbsp;&nbsp;This item primarily includes capital increases in intersegment investments and change in financial receivables.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**CNH Industrial N.V.** 

**Supplementary Financial Information**

*(Unaudited)*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Reconciliation of Adjusted Net Income and Adjusted Income Tax (Expense) Benefit to Net Income (Loss) and Income Tax (Expense) Benefit and Calculation of Adjusted Diluted EPS and Adjusted ETR under U.S. GAAP**  | **Reconciliation of Adjusted Net Income and Adjusted Income Tax (Expense) Benefit to Net Income (Loss) and Income Tax (Expense) Benefit and Calculation of Adjusted Diluted EPS and Adjusted ETR under U.S. GAAP**  | **Reconciliation of Adjusted Net Income and Adjusted Income Tax (Expense) Benefit to Net Income (Loss) and Income Tax (Expense) Benefit and Calculation of Adjusted Diluted EPS and Adjusted ETR under U.S. GAAP**  | **Reconciliation of Adjusted Net Income and Adjusted Income Tax (Expense) Benefit to Net Income (Loss) and Income Tax (Expense) Benefit and Calculation of Adjusted Diluted EPS and Adjusted ETR under U.S. GAAP**  | **Reconciliation of Adjusted Net Income and Adjusted Income Tax (Expense) Benefit to Net Income (Loss) and Income Tax (Expense) Benefit and Calculation of Adjusted Diluted EPS and Adjusted ETR under U.S. GAAP**  |
| **Year Ended <br>December 31,** | **Year Ended <br>December 31,** | | **Three Months Ended December 31,** | **Three Months Ended December 31,** |
| **2025** | **2024** | ($ million) | **2025** | &nbsp;&nbsp;**2024** |
| $**505** | $**1259** | **Net income**  | $**89** | $**176** |
| 245 | 97 | Adjustments impacting Income before income tax expense and equity in income of unconsolidated affiliates (a) | 190 | 20 |
| (47) | (17) | Adjustments impacting Income tax expense (b) | (33) |  |
| $**703** | $**1339** | **Adjusted net income**  | $**246** | $**196** |
| 691 | 1326 | Adjusted net income attributable to CNH Industrial N.V.<sup>(1)</sup> | 243 | 193 |
| 1251 | 1260 | Weighted average shares outstanding – diluted (million) | 1247 | 1253 |
| $**0.55** | $**1.05** | **Adjusted diluted EPS ($)** | $**0.19** | $**0.15** |
| $620 | $1457 | Consolidated income before income taxes  | $132 | $241 |
| 245 | 97 | Adjustments impacting Income before income tax expense and equity in income of unconsolidated affiliates (a) | 190 | &nbsp;&nbsp;20 |
| $**865** | $**1554** | **Adjusted income before income tax expense and equity in income of unconsolidated affiliates (A)** | $**322** | $**261** |
| $(184) | $(336) | Income tax expense | $(60) | $(89) |
| (47) | (17) | Adjustments impacting Income tax expense (b) | (33) | &nbsp;&nbsp;— |
| $**(231)** | $**(353)** | **Adjusted income tax expense (B)** | $**(93)** | $**(89)** |
| **26.7%** | **22.7%** | **Adjusted Effective Tax Rate (Adjusted ETR) (C=B/A)** | **28.9%** | **34.1%** |
|  |  | **a) Adjustments impacting Income before income tax expense and equity in income of unconsolidated affiliates** |  |  |
| $22 | $118 | Restructuring expenses | $8 | $24 |
| (21) | (24) | Pre-tax gain related to the 2021 modification of a healthcare plan in the U.S. | (3) | &nbsp;&nbsp;(6) |
| 49 |  | Bennamann IPR&D impairment charge |  | &nbsp;&nbsp;— |
| 123 |  | Raven IPR&D impairment charge | 123 | &nbsp;&nbsp;— |
| 62 |  | Impairment of investment in Monarch Tractor and other minority holdings | 62 | &nbsp;&nbsp;— |
| 10 |  | New Holland T6.180 Methane Power Tractor write-down to net realizable value |  | &nbsp;&nbsp;— |
|  | 17 | Sales of certain non-core product lines |  | &nbsp;&nbsp;2 |
|  | (14) | Investment fair value adjustments |  | &nbsp;&nbsp;— |
| $**245** | $**97** | **Total** | $**190** | $**20** |
|  |  | **b) Adjustments impacting Income tax expense** |  |  |
| $(47) | $(23) | Tax effect of adjustments impacting Income before income tax expense and equity in income of unconsolidated affiliates | $(33) | $(6) |
|  | 6 | Adjustment to valuation allowances on deferred tax assets |  | &nbsp;&nbsp;6 |
| $**(47)** | $**(17)** | **Total** | $**(33)** | $**—** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1)Excludes the minority share of the after-tax impairment charge related to Bennamann IPR&D.

## Exhibit 99.2

![](cnh_2025xq4xfinal001.jpg)

Q4 2025 FINANCIAL RESULTS February 17, 2026

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![](cnh_2025xq4xfinal002.jpg)

Q4 2025 results \| February 17, 20262 SAFE HARBOR STATEMENT AND DISCLOSURES All statements other than statements of historical fact contained in this presentation including competitive strengths; business strategy; future financial position or operating results; budgets; projections with respect to revenue, income, earnings (or loss) per share, capital expenditures, dividends, liquidity, capital structure or other financial items; costs; and plans and objectives of management regarding operations and products, are forward-looking statements. Forward-looking statements also include statements regarding the future performance of CNH and its subsidiaries on a standalone basis. These statements may include terminology such as "may", "will", "expect", "could", "should", "intend", "estimate", "anticipate", "believe", "outlook", "continue", "remain", "on track", "design", "target", "objective", "goal", "forecast", "projection", "prospects", "plan", or similar terminology. Forward-looking statements are not guarantees of future performance. Rather, they are based on current views and assumptions and involve known and unknown risks, uncertainties and other factors, many of which are outside our control and are difficult to predict. If any of these risks and uncertainties materialize (or they occur with a degree of severity that the Company is unable to predict) or other assumptions underlying any of the forward-looking statements prove to be incorrect, including any assumptions regarding strategic plans, the actual results or developments may differ materially from any future results or developments expressed or implied by the forward-looking statements. Factors, risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements include, among others: economic conditions in each of our markets, including the significant uncertainty caused by geopolitical events; production and supply chain disruptions, including industry capacity constraints, material availability, and global logistics delays and constraints; the many interrelated factors that affect consumer confidence and worldwide demand for capital goods and capital goods related products, particularly as it relates to the agricultural market business cycle; changes in government policies regarding banking, monetary and fiscal policy; legislation, particularly pertaining to capital goods related issues such as agriculture, the environment, debt relief and subsidy program policies, trade, commerce and infrastructure development; government policies on international trade and investment, including sanctions, import quotas, capital controls, tariffs and other protective measures issued to promote national interests or address foreign competition, which in turn result or may result in retaliatory tariffs or other measures enacted by affected trade partners; volatility in international trade caused by the imposition of tariffs and the related impact on cost and prices, which could consequently affect demand of our products, sanctions, embargoes, and trade wars; actions of competitors in the various industries in which we compete; development and use of new technologies (including artificial intelligence) and technological difficulties; the interpretation of, or adoption of new, compliance requirements with respect to engine emissions, safety, privacy and data security or other aspects of our products; labor relations; interest rates and currency exchange rates; inflation and deflation; energy prices; prices for agricultural commodities and material price increases; housing starts and other construction activity; weather conditions, particularly to the extent it impacts the agricultural industry; our ability to obtain financing or to refinance existing debt; price pressure on new and used equipment; the resolution of pending litigation and investigations on a wide range of topics, including dealer and supplier litigation, intellectual property rights disputes, product warranty and defective product claims, and emissions and/or fuel economy regulatory and contractual issues; security breaches, cybersecurity attacks, technology failures, and other disruptions to the information technology infrastructure of CNH and its suppliers and dealers; security breaches with respect to our products; our pension plans and other postemployment obligations; political and civil unrest; volatility and deterioration of capital and financial markets, including pandemics, terrorist attacks in Europe and elsewhere; the remediation of a material weakness; our ability to realize the anticipated benefits from our business initiatives as part of our strategic plan; including targeted restructuring actions to optimize our cost structure and improve the efficiency of our operations; our failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures, strategic alliances or divestitures and other similar risks and uncertainties, and our success in managing the risks involved in the foregoing. Forward-looking statements are based upon assumptions relating to the factors described in this presentation, which are sometimes based upon estimates and data received from third parties. Such estimates and data are often revised. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside CNH's control. CNH expressly disclaims any intention or obligation to provide, update or revise any forward-looking statements in this announcement to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based. Further information concerning CNH, including factors that potentially could materially affect its financial results, is included in the Company's reports and filings with the U.S. Securities and Exchange Commission ("SEC"). All future written and oral forward-looking statements by CNH or persons acting on the behalf of CNH are expressly qualified in their entirety by the cautionary statements contained herein or referred to above. Additional factors could cause actual results to differ from those expressed or implied by the forward-looking statements included in the Company's filings with the SEC (including, but not limited to, the factors discussed in our most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q). Reconciliations of non-GAAP measures to the most directly comparable GAAP measure are included in this presentation, which is available on our website at investors.cnh.com.

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![](cnh_2025xq4xfinal003.jpg)

3 Q4 2025 results \| February 17, 2026 Q4 2025 \| MAIN HIGHLIGHTS Successful Tech Day presentation at Agritechnica - CNH Tech powers digital solutions for our iron - Global mid-range tractor renewal preview - Harvesting leadership showcase Flagship dealer consolidation transactions Savings from Quality and Operational Excellence on long-term target pace Ag dealer inventories further reduced by $0.2B ($0.8B in the full year)1 Low commodity prices yield persistent challenging economics for farmers (1) As independent businesses, dealers control their own inventory3

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![](cnh_2025xq4xfinal004.jpg)

Q4 2025 results \| February 17, 20264 Q4 2025 \| RESULTS (1) Non-GAAP measures (definition and reconciliation in the appendix) Consolidated Revenues $5.2B +6% Adj. EBIT1 Industrial Activities $234M +21% Net Income $89M (49)% Diluted EPS $0.07 $(0.07) Net Sales Industrial Activities $4.5B +8% +60 bps +26% +$0.04 Adj. EBIT Margin1 Industrial Activities 5.3% Adj. Net Income1 $246M Adj. Diluted EPS1 $0.19 YoY vs Q4 2024

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![](cnh_2025xq4xfinal005.jpg)

Q4 2025 results \| February 17, 20265 FY 2025 \| RESULTS (1) Non-GAAP measures (definition and reconciliation in the appendix) Consolidated Revenues $18.1B (9)% Adj. EBIT1 Industrial Activities $663M (53)% Net Income $505M (60)% Diluted EPS $0.41 $(0.58) Net Sales Industrial Activities $15.3B (10)% (390) bps (47)% $(0.50) Adj. EBIT%1 Industrial Activities 4.3% Adjusted Net Income1 $703M Adjusted Diluted EPS1 $0.55 YoY vs FY 2024

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![](cnh_2025xq4xfinal006.jpg)

Q4 2025 results \| February 17, 20266 SERVING FARMERS – ON THEIR SOIL Adding value to farmers through Sustainability leadership Sustainability starts with our farmers' noble work of feeding the world while maintaining farm profitability Our vision: to create predictive, sustainable systems that help farmers see ahead, act smarter, decide better, and produce more with less Water conservation Integrated pest management Crop residue management Nutrient stratification Timeliness of operations Corporate Sustainability Assessment (CSA)

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![](cnh_2025xq4xfinal007.jpg)

Q4 2025 results \| February 17, 20267 Q4 2025 \| FINANCIAL HIGHLIGHTS (1) Non-GAAP measure (definition and reconciliation in the appendix) ($M) $0.15 $0.19 Q4 2024 Q4 2025 848 817 Q4 2024 Q4 2025 196 246 Q4 2024 Q4 2025 4,129 4,451 Q4 2024 Q4 2025 Net Sales Industrial Activities Free Cash Flow1 Industrial Activities Adjusted Diluted EPS1 Adjusted Net Income1 +8% +26% +$0.04 (31) Δ YoY

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![](cnh_2025xq4xfinal008.jpg)

Q4 2025 results \| February 17, 20268 (17) 45 (4) (30) 26 (32) 244 233 Q4 2025 \| AGRICULTURE Note: numbers may not add due to rounding (1) Adj. Gross Margin calculated as Adj. Gross Profit divided by Net Sales, as shown in the appendix (2) As independent businesses, dealers control their own inventory 3,411 3,598 Q4 2024 Q4 2025 Net Sales ($M) Adj. Gross Margin1 Adjusted EBIT ($M) Q4 2024 Volume & Mix Pricing, Net Product Cost SG&A R&D FX & Other Q4 2025 6.5%7.2% +5% YoY (60) bps YoY 20.6% 20.0% Q4 2024 Q4 2025 244 233 Production hours Δ YoY • Q4: +15% • FY: (10)% Dealer inventory2 sequential reductions • Q4: $(0.2)B • FY: $(0.8)B Production slots filled • Q1: • Q2: ● ◕

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![](cnh_2025xq4xfinal009.jpg)

Q4 2025 results \| February 17, 20269 25 9 (43) (1) 0 (3) 18 5 Q4 2025 \| CONSTRUCTION Note: numbers may not add due to rounding (1) Adj. Gross Margin calculated as Adj. Gross Profit divided by Net Sales, as shown in the appendix (2) As independent businesses, dealers control their own inventory 718 853 Q4 2024 Q4 2025 Net Sales ($M) Adj. Gross Margin1 Adjusted EBIT ($M) Q4 2024 Volume & Mix Pricing, Net Product Cost SG&A R&D FX & Other Q4 2025 0.6% 2.5% +19% YoY (340) bps YoY 14.8% 11.4% Q4 2024 Q4 2025 18 5 Production hours Δ YoY • Q4: (1)% • FY: (9)% Dealer inventory2 YoY • Q4: (9)% Production slots filled • Q1: • Q2: ● ◑

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![](cnh_2025xq4xfinal010.jpg)

Q4 2025 results \| February 17, 202610 Q4 2025 \| FINANCIAL SERVICES (1) Return on Assets defined as: EBIT / average managed assets annualized (2) Including unconsolidated JVs (3) At constant currency Q4 retail originations $2.8B, -$0.4B YoY Managed portfolio $28.6B, +$0.7B YoY (-$0.8B @ CC3) Managed Portfolio2 & Retail Originations2 Net Income ($M) Delinquencies on Book (>30 Days) Profitability Ratios Gross Margin / Avg. Assets on Book Return on Assets1 3.4% 3.2% 3.5% 2.4% 2.1% 1.9% 0.0% 1.0% 2.0% 3.0% 4.0% Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 1.4% 1.9% 3.1% 1.0% 2.0% 3.0% 4.0% Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 2024 2025 92 379 109 333 Q4 FY Δ YoY +18% -12% Portfolio at Dec. 31, 2025 Retail Wholesale Operating Lease 65% 30% 5%

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![](cnh_2025xq4xfinal011.jpg)

Q4 2025 results \| February 17, 202611 CAPITAL ALLOCATION PRIORITIES ORGANIC GROWTH & MARGIN EXPANSION Support organic growth through investment in commercial actions, operational efficiencies, and quality improvements BALANCE SHEET STRENGTH & STRONG CREDIT RATING Preserve investment grade credit rating as foundational commitment INORGANIC GROWTH Maintain option for strategic, disciplined, and margin accretive M&A SHAREHOLDER RETURNS After debt repayment and M&A, return substantially all Industrial FCF to shareholders through dividends and share buybacks

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![](cnh_2025xq4xfinal012.jpg)

Q4 2025 results \| February 17, 202612 Breaking new ground on Iron + Tech Expanding mid-cycle margins PATH TO 2030 Quality as a mindset Driving commercial excellence Operational excellence Expanding product leadership Advancing Iron + Tech integration

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![](cnh_2025xq4xfinal013.jpg)

Q4 2025 results \| February 17, 202613 EXPANDING PRODUCT LEADERSHIP Major Ag product launches Tractors Harvesting Crop Production Precision 5 in 2025 8 in 2026 3+ in 2027 7 in 2025 3 in 2026 9 in 2027 4 in 2025 5 in 2026 1 in 2027 10 in 2025 12 in 2026 9+ in 2027

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Q4 2025 results \| February 17, 202614 ADVANCING IRON + TECH INTEGRATION Innovations highlighted at Agritechnica Green-on-Green Spraying Implement Control FieldOps • Identifies, targets, and sprays weeds • Will allow input savings, operational efficiency, and sustainability gains • Active & passive controls correct for field conditions • Maximizes yield potential, giving farmers the healthiest soil and root growth • Latest features include AI boundary creation, boundary management tools, & remote display view • More features coming in 2026! FLEETPRO • Guidance kits with 10" & 12" displays & both hydraulic and assisted steering options • Compatible with all brands and models

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Q4 2025 results \| February 17, 202615 DRIVING COMMERCIAL EXCELLENCE Sales at dual-branded dealers2 (1) Reduction in the number of dealer owners, not points of sale (2) As a percentage of Agriculture net sales in selected markets within North America and Europe Flagship transactions (out of 50+ total transactions): • Progressive Tractor acquired 4 New Holland locations and is dual-branding all their facilities • Equipment Ontario expanded and opened dual-brand locations across a 10-location footprint • Lankhorst appointed as multi-branded dealer across 14 stores • Lloyd replaced 3 Case IH dealers to increase multi-brand coverage Ag dealer owners1 30% ~60% 2024 2030E 100% increase ~2,500 ~1,700 2024 2030E reduce ~1/3

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Q4 2025 results \| February 17, 202616 Operational excellence $30M Strategic Sourcing savings1 $60M Manufacturing efficiency savings1 EXPANDING AG MID-CYCLE MARGINS (1) Included in the Product Cost category of the Agriculture adj. EBIT bridge (2) Net Promoter Score in 2025 vs 2024 $230M 2025 cost savings $550M cumulative savings target through 2030 Operational excellence $34M Strategic Sourcing savings1 25 bps in 2025, 100-150 bps by 2030 $45M Manufacturing Efficiency savings1 35 bps in 2025, 50 bps by 2030 Quality as a mindset $151M Quality cost improvement1 (warranty expense and manufacturing quality) 120 bps in 2025, 200-250 bps by 2030 NPS2 improved 8 p.p. YoY

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Q4 2025 results \| February 17, 202617 0 bps 60 bps 85 bps 120 bps (20) bps (75) bps PROGRESS VS. INVESTOR DAY 2025 TARGETS Agriculture adj. EBIT margin vs. 2024 Operational efficiencies Quality Manufacturing quality & warranty expense Includes not repeating 2024 true-ups Strategic Sourcing Plant efficiencies Progress underway with financial impacts coming in the back-half of the plan Commercial investments R&D investments R&D expenses expected 50-75 bps higher vs 2024 by 2030 Strengthening the dealer network Included in SG&A expense Commercial actions 2025 Progress to Target +350-450 bps by 2030 We hold our commitment to 16-17% mid-cycle EBIT margins by 2030

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Q4 2025 results \| February 17, 202618 6.2% 2025A 2026E $12,390M 2025A 2026E 2026 OUTLOOK – AGRICULTURE (1) Regional split definition in the appendix Industry Retail Demand Forecast1 (Units) CNH Agriculture – Main Assumptions (5)% - flat Δ YoY Net Sales Adj. EBIT Margin 4.5% - 5.5% Tractors Combines North America ~flat LHP (20)% - (15)% HHP (10)% - (5)% EMEA flat - 5% (5)% - flat South America (5)% - flat (10)% - (5)% APAC (15)% - (10)% flat - 5% Total Industry Volume % change FY 2026 vs. FY 2025 reflecting the aggregate for key markets where the Company competes.

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Q4 2025 results \| February 17, 202619 2.3% 2025A 2026E $2,956M 2025A 2026E 2026 OUTLOOK – CONSTRUCTION (1) Regional split definition in the appendix Industry Retail Demand Forecast1 (Units) CNH Construction – Main Assumptions ~flat YoY Net Sales Adj. EBIT Margin 1.0% - 2.0% Light Heavy North America ~flat flat - 5% EMEA flat - 5% ~flat South America (5)% - flat (15)% - (10)% APAC ~flat ~flat Total Industry Volume % change FY 2026 vs. FY 2025 reflecting the aggregate for key markets where the Company competes.

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Q4 2025 results \| February 17, 202620 2026 OUTLOOK – FINANCIAL TARGETS (1) Non-GAAP measure (definition in the appendix) Industrial Activities 2025A 2026E Net Sales $15.3B (4)% - flat YoY Adj. EBIT margin1 4.3% 2.5% - 3.5% R&D expenses $853M ~flat YoY Capex $530M $600M - $650M Free Cash Flow1 $513M $150M - $350M Company Adj. Effective Tax Rate1 26.7% 24% - 26% Adj. Diluted EPS1 $0.55 $0.35 - $0.45

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21 Q4 2025 results \| February 17, 2026 Q1 2026 – KEY CONSIDERATIONS Low production levels maintained Agriculture dealer destocking continues Lowest sales quarter of the year Full-year profits back-end loaded more than the usual seasonality Industrial FCF impacted by lower EBIT and working capital seasonality

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22 Q4 2025 results \| February 17, 2026 2026 PRIORITIES & OUTLOOK Careful production planning and channel inventory optimization Commercial launch of new mid-range tractors Improving speed of product development to market commercialization - Increased frequency of tech releases - Progress on new product categories 50-75 bps improvement from self-help initiatives Additional flagship transactions for network development

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23 APPENDIX

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Q4 2025 results \| February 17, 202624 UPCOMING EVENTS Annual General Meeting of Shareholders: Friday, May 8, 3:00pm CEST (9:00am ET) Q1 2026 earnings call: Thursday, April 30, 9:30am ET Note: dates are subject to change

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Q4 2025 results \| February 17, 202625 Q4 / FY 2025 \| YOY UNIT PERFORMANCE (1) Total Industry Volume % YoY change reflecting the aggregate for key markets where the Company competes (2) Regional split definition in the slide "Geographic Information" (3) As independent businesses, dealers control their own inventory T o ta l I n d u s tr y 1 ,2 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 C o m p a n y Tractors Combines Light CE Heavy CE Company Inventory Dealer Inventory3 Retail Production NORTH AMERICA EMEA SOUTH AMERICA APAC Q4 FY Q4 FY Q4 FY Q4 FY 0-140 HP – Small Tractors (14)% (7)% (8)% (13)% (8)% (1)% 19% 12% 140+ HP – Large Tractors (31)% (33)% Combines (16)% (26)% 40% (3)% (39)% (16)% 10% (26)% Light Construction flat 2% 3% (1)% 7% 7% (3)% flat Heavy Construction 5% (2)% 11% 9% 9% 4% 1% 10%

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Q4 2025 results \| February 17, 202626 (843) 56 143 (29) 84 (109) 772 FY 2025 \| SEGMENT PERFORMANCE Note: numbers may not add due to rounding (1) Adj. Gross Margin calculated as Adj. Gross Profit divided by Net Sales, as shown in the appendix 14,007 12,390 FY 2024 FY 2025 Net Sales ($M) Adj. Gross Margin1 Adjusted EBIT ($M) FY 2024 Vol. & Mix Pricing, Net Prod. Cost SG&A R&D FX & Other FY 2025 6.2% 10.5% (12)% (230) bps 22.9% 20.6% FY 2024 FY 2025 1,470 772 Adjusted EBIT ($M) Δ YoYAGRICULTURE CONSTRUCTION Adj. Gross Margin1Net Sales ($M) 16.3% 14.0% Q3 2024 Q3 2025 (230) bps(3)% 3,053 2,956 FY 2024 FY 2025 (47) 20 (46) (8) (3) (17) 169 68 FY 2024 Vol. & Mix Pricing, Net Prod. Cost SG&A R&D FX & Other FY 2025 5.5% 2.3%169 68

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Q4 2025 results \| February 17, 202627 Q4 2025 \| INDUSTRIAL ACTIVITIES NET SALES Note: numbers may not add due to rounding (1) Δ YoY @CC means at constant currency Agriculture Construction Industrial Activities $3,598M $853M $4,451M +5% YoY +3% @CC1 +19% YoY +17% @CC1 +8% YoY +5% @CC1 By Region as reported By Region as reported By Region as reported 31% 39% 17% 13% 47% 22% 25% 6% 34% 36% 19% 11% 37% 31% 19% 13% 46% 25% 20% 8% 38% 30% 19% 12% By Product as reported By Product as reported By Segment as reported 59% 23% 18% 38% 60% 2% 83% 17% 56% 22% 22% 37% 61% 2% 83% 17% Q4 2024 Q4 2025 Agriculture Construction NA EMEA SA APAC Tractors Combines Others Heavy Light Others NA EMEA SA APAC NA EMEA SA APAC Q4 2025 mix Q4 2024 mix Q4 2025 mix Q4 2024 mix

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Q4 2025 results \| February 17, 202628 FY 2025 \| INDUSTRIAL ACTIVITIES NET SALES Note: numbers may not add due to rounding (1) Δ YoY @CC means at constant currency Agriculture Construction Industrial Activities $12,390M $2,956M $15,346M (12)% YoY (12)% @CC1 (3)% YoY (3)% @CC1 (10)% YoY (10)% @CC1 By Region as reported By Region as reported By Region as reported 35% 37% 16% 12% 51% 24% 19% 6% 38% 35% 17% 11% 42% 30% 16% 12% 53% 22% 18% 7% 44% 29% 17% 11% By Product as reported By Product as reported By Segment as reported 60% 21% 19% 36% 61% 3% 82% 18% 59% 19% 22% 38% 60% 2% 82% 18% FY 2024 FY 2025 Agriculture Construction NA EMEA SA APAC Tractors Combines Others Heavy Light Others NA EMEA SA APAC NA EMEA SA APAC FY 2025 mix FY 2024 mix FY 2025 mix FY 2024 mix

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Q4 2025 results \| February 17, 202629 Q4 / FY 2025 \| FINANCIALS BY SEGMENT Note: numbers may not add due to rounding (1) Non-GAAP measure: definition in the slide "Non-GAAP Financial Measures"; reconciliation in "Reconciliations" section ($M) Revenues & Net Sales Adj. Gross Profit1 Adj. Gross Margin1 Adj. EBIT1 Adj. EBIT Margin1 Q4 25 Q4 24 Q4 25 Q4 24 Q4 25 Q4 24 Q4 25 Q4 24 Q4 25 Q4 24 Agriculture 3,598 3,411 721 701 20.0% 20.6% 233 244 6.5% 7.2% Construction 853 718 97 106 11.4% 14.8% 5 18 0.6% 2.5% Elimination & Other - - - - - - (4) (68) - - Industrial Activities 4,451 4,129 818 807 18.4% 19.5% 234 194 5.3% 4.7% Financial Services 700 743 Elimination & Other 6 4 CNH Industrial 5,157 4,876 FY 25 FY 24 FY 25 FY 24 FY 25 FY 24 FY 25 FY 24 FY 25 FY 24 Agriculture 12,390 14,007 2,555 3,211 20.6% 22.9% 772 1,470 6.2% 10.5% Construction 2,956 3,053 413 499 14.0% 16.3% 68 169 2.3% 5.5% Elimination & Other - - (1) - - - (177) (235) - - Industrial Activities 15,346 17,060 2,967 3,710 19.3% 21.7% 663 1,404 4.3% 8.2% Financial Services 2,720 2,774 Elimination & Other 29 2 CNH Industrial 18.095 19,836

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Q4 2025 results \| February 17, 202630 Q4 / FY 2025 \| INDUSTRIAL ACTIVITIES R&D AND CAPEX Note: numbers may not add due to rounding (1) Excludes impairment charges related to in-process research and development ("IPR&D"): Q4 and FY include $123M of Raven, FY includes $123M of Raven and $49M of Bennamann ($M) Q4 2025 Q4 2024 FY 2025 FY 2024 Agriculture R&D1 193 213 755 830 CapEx 180 168 459 455 Total 373 381 1,214 1,285 of which Precision Tech 18% 20% 23% 25% Construction R&D 26 25 98 94 CapEx 28 35 70 75 Total 55 60 168 169 Industrial Activities R&D 219 238 853 924 CapEx 209 204 530 533 Total 428 442 1,383 1,457

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Q4 2025 results \| February 17, 202631 DEBT MATURITY SCHEDULE \| BREAKDOWN Note: numbers may not add due to rounding Outstanding Dec. 31, 2025 2026 2027 2028 2029 2030 Beyond 3.0 Bank Debt 1.1 0.5 0.4 0.2 0.2 0.5 12.3 Capital Market 2.5 3.0 1.9 2.2 0.6 2.2 0.1 Other Debt 0.1 - - - - - 15.5 Cash Portion of Debt Maturities 3.7 3.5 2.4 2.4 0.8 2.7 of which Industrial Activities - 1.4 0.1 0.6 - 2.1 of which Financial Services 3.7 2.1 2.3 1.8 0.8 0.6 3.2 Cash & Cash Equivalents and Restricted Cash 0.7 of which restricted cash 0.1 Net Receivables / (Payables) with Iveco Group 6.5 Undrawn Committed credit lines 9.8 Total Available Liquidity ($B)

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32 RECONCILIATIONS

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Q4 2025 results \| February 17, 202633 ($M) Q4 2025 Q4 2024 FY 2025 FY 2024 [A] Net sales 4,451 4,129 15,346 17,060 Cost of goods sold (3,633) (3,323) (12,389) (13,350) [B] Gross Profit 818 807 2,957 3,710 New Holland T6.180 Methane Power Tractor write-down to net realizable value - - 10 - [C] Adjusted gross profit 818 807 2,967 3,710 [B/A] Gross profit margin 18.4% 19.5% 19.3% 21.7% [C/A] Adjusted gross profit margin 18.4% 19.5% 19.3% 21.7% ADJUSTED GROSS PROFIT RECONCILIATION Reconciliation of Adjusted Gross Profit to Gross Profit of Industrial Activities Note: numbers may not add due to rounding

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Q4 2025 results \| February 17, 202634 ($M) Q4 2025 Q4 2024 FY 2025 FY 2024 Net Income 89 176 505 1,259 Less: Consolidated income tax expense (60) (89) (184) (336) Consolidated income before taxes 149 265 689 1,595 Less: Financial Services Financial Services Net Income 109 92 333 379 Financial Services Income Taxes 28 55 96 110 Add back of the following Industrial Activities items: Interest expense of Industrial Activities, net of Interest income and elim. 37 38 114 152 Foreign exchange (gains) losses, net of Industrial Activities 3 3 22 15 Finance and non-service component of Pension and other post-employment benefit costs of Industrial Activities(1) (11) 8 - 10 Adjustments for the following Industrial Activities items: Restructuring expenses 8 24 23 117 Other discrete items(2) 185 3 244 4 Total Adjusted EBIT of Industrial Activities 234 194 663 1,404 ADJUSTED EBIT RECONCILIATION Reconciliation of Consolidated Net Income to Adjusted EBIT of Industrial Activities (1) In Q4 2025 and 2024, this item includes the pre-tax gain of $3M and $6M, respectively, as a result of the amortization over the 4 years of the $101M positive impact from the 2021 U.S. healthcare plan modification. In FY 2025 and 2024, this item includes the pre-tax gain of $21M and $24M, respectively, as a result of the amortization over the 4 years of the $101M positive impact from the 2021 U.S. healthcare plan modification. (2) In Q4 2025, this item includes non-cash impairment charges of $123M related to Raven IPR&D and $62M for non-cash impairment of investment in Monarch Tractor and other minority holdings. In FY 2025, this item also includes a $49M impairment for Bennamann IPR&D and a $10M inventory write-down for the New Holland T6.180 Methane Power Tractor. In Q4 2024, this item includes a loss of $2M on the sale of certain non-core product lines. In FY 2024, this item includes a $17M loss on the sale of certain non-core product lines and a $14M gain for investment fair value adjustments.

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Q4 2025 results \| February 17, 202635 ($M) Q4 2025 Q4 2024 FY 2025 FY 2024 Net income (loss) 89 176 505 1,259 Adjustments impacting Income (loss) before income tax (expense) benefit and equity in income of unconsolidated subsidiaries and affiliates 190 20 245 97 Restructuring expenses 8 24 22 118 Pre-tax gain related to the 2021 modification of a healthcare plan in the U.S. (3) (6) (21) (24) Bennamann IPR&D impairment charge - - 49 - Raven IPR&D R&D impairment charge 123 - 123 - Impairment of investment in Monarch Tractor and other minority holdings 62 - 62 - New Holland T6.180 Methane Power Tractor write-down to net realizable value - - 10 - Sale of certain non-core product lines - 2 - 17 Investment fair value adjustments - - - (14) Tax effect of adjustments impacting Income (loss) before income tax (expense) benefit and equity in income of unconsolidated subsidiaries and affiliates (33) - (47) (17) Adjusted net income (loss) 246 196 703 1,339 Adjusted net income (loss) attributable to CNH Industrial N.V. 243 193 691 1,326 Weighted average shares outstanding – diluted (million) 1,247 1,253 1,251 1,260 Adjusted diluted EPS $0.19 $0.15 $0.55 $1.05 ADJUSTED NET INCOME RECONCILIATION Reconciliation of Adjusted Net Income to Net Income (Loss) & Calculation of Adjusted Diluted EPS

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Q4 2025 results \| February 17, 202636 ($M) Q4 2025 Q4 2024 FY 2025 FY 2024 Net cash provided by (used in) Operating Activities 945 1,692 2,538 1,968 Cash flows from Operating Activities of Fin. Serv. net of eliminations 72 (645) (1,485) (1,806) Change in derivatives hedging debt of Industrial Activities and other (7) (7) 6 5 Investments in assets sold under operating lease assets of Ind. Act. - (4) - (31) Inv. in property, plant & equipment, and intangible assets of Ind. Act. (209) (204) (530) (533) Other changes(1) 16 16 (16) (4) Free cash flow of Industrial Activities 817 848 513 (401) FREE CASH FLOW RECONCILIATION Reconciliation of Net Cash Provided (Used) by Operating Activities to Free Cash Flow of Industrial Activities (1) This item primarily includes change in intersegment financial receivables and capital increases in intersegment investments.

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Q4 2025 results \| February 17, 202637 The composition of our regions part of the geographic information is as follows: • North America: United States, Canada, and Mexico • Europe, Middle East, and Africa (EMEA): member countries of the European Union, European Free Trade Association, the United Kingdom, Ukraine, Balkans, Türkiye, Uzbekistan, Pakistan, the African continent, and the Middle East • South America: Central and South America, and the Caribbean Islands • Asia Pacific (APAC): Continental Asia (including the Indian subcontinent), Indonesia, Japan and Oceania Industry Data • In this presentation, industry information is generally based on retail unit sales data in North America, on registrations of equipment in most of Europe, Brazil, and various Rest of the World markets, and on retail and shipment unit data collected by a central information bureau appointed by equipment manufacturers associations, including the Association of Equipment Manufacturers' in North America, the Committee for European Construction Equipment in Europe, the ANFAVEA in Brazil, the Japan Construction Equipment Manufacturers Association, and the Korea Construction Equipment Manufacturers Association, as well as on other shipment data collected by an independent service bureau. • Not all Agricultural or Construction equipment is registered, and registration data may thus underestimate, perhaps substantially, actual retail industry unit sales demand, particularly for local manufacturers in China, Southeast Asia, Eastern Europe, Russia, Türkiye, Brazil, and any country where local shipments are not reported. • In addition, there may be a period of time between the shipment, delivery, sale and/or registration of a unit, which must be estimated and may require adjustments when determining our estimates of retail unit data in any period. GEOGRAPHIC INFORMATION

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Q4 2025 results \| February 17, 202638 CNH monitors its operations through the use of several non-GAAP financial measures. CNH's management believes that these non-GAAP financial measures provide useful and relevant information regarding its operating results and enhance the readers' ability to assess CNH's financial performance and financial position. Management uses these non-GAAP measures to identify operational trends, as well as make decisions regarding future spending, resource allocations and other operational decisions as they provide additional transparency with respect to our core operations. These non-GAAP financial measures have no standardized meaning under U.S. GAAP and are unlikely to be comparable to other similarly titled measures used by other companies and are not intended to be substitutes for measures of financial performance and financial position as prepared in accordance with U.S. GAAP. CNH's non-GAAP financial measures used in this presentation are defined as follows: Change excluding FX or Constant Currency refers to the fluctuations in revenues on a constant currency basis by applying the prior year average exchange rates to current year's revenues expressed in local currency in order to eliminate the impact of foreign exchange rate fluctuations. Adjusted Gross Profit Margin of Industrial Activities: is computed by dividing Net Sales less Costs of good sold, as adjusted by non-recurring items, by Net Sales. Adjusted EBIT of Industrial Activities is defined as net income (loss) before income taxes, Financial Services' results, Industrial Activities' interest expenses, net, foreign exchange gains/losses, finance and non-service component of pension and other post-employment benefit costs, restructuring expenses, and certain non- recurring items. In particular, non-recurring items are specifically disclosed items that management considers rare or discrete events that are infrequent in nature and not reflective of on-going operational activities. Adjusted EBIT Margin of Industrial Activities is computed by dividing Adjusted EBIT of Industrial Activities by Net Sales of Industrial Activities. Adjusted Income Tax (Expense) Benefit is defined as income taxes less the tax effect of restructuring expenses and non-recurring items, and non-recurring tax charges or benefits. Adjusted Effective Tax Rate (Adjusted ETR) is computed by dividing a) adjusted income taxes by b) income (loss) before income taxes and equity in income of unconsolidated subsidiaries and affiliates, less restructuring expenses and non-recurring items. Adjusted Net Income is defined as net income, less restructuring charges and non-recurring items, after tax. Adjusted Diluted EPS is computed by dividing Adjusted Net Income (loss) attributable to CNH Industrial N.V. by a weighted-average number of common shares outstanding during the period that takes into consideration potential common shares outstanding deriving from the CNH share-based payment awards, when inclusion is not anti-dilutive. When we provide guidance for adjusted diluted EPS, we do not provide guidance on an earnings per share basis because the GAAP measure will include potentially significant items that have not yet occurred and are difficult to predict with reasonable certainty prior to year-end. Free Cash Flow of Industrial Activities (or Industrial Free Cash Flow) refers to Industrial Activities only and is computed as consolidated cash flow from operating activities less: cash flow from operating activities of Financial Services; investments of Industrial Activities in assets sold under operating leases, property, plant and equipment and intangible assets; change in derivatives hedging debt of Industrial Activities; as well as other changes and intersegment eliminations. For forecasted information, the Company is unable to provide a reconciliation of this measure without unreasonable effort due to the uncertainty and inherent difficulty of predicting the occurrence, the financial impact, and the periods in which the adjustments may be recognized. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results. NON-GAAP FINANCIAL MEASURES

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39 INVESTOR RELATIONS CONTACTS investors.cnh.com investor.relations@cnh.com Jason Omerza +1 (630) 740 8079 jason.omerza@cnh.com Federico Pavesi +39 (345) 605 6218 federico.pavesi@cnh.com

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