I. 2018MY RAV4 / RAV4 HV will carryover and sustain the mid- 17 price reposition.

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Roland Ellis
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1 Toyota Division Fleet Sales July 27, 2017 TO: SUBJECT: All Toyota Fleet Customers and Dealers Product & Price Change for Select 2018MY Vehicles Sequoia, Tundra, Corolla, Corolla im, Yaris ia, RAV4 (incl. HV), 4Runner, Land Cruiser, Highlander (incl. HV) Effective immediately, Toyota Fleet announces product and price changes for several 2018MY Toyota vehicles. Price and percent change information is a weighted average for the series overall. The series price change summary at the end of this document provides detailed pricing by model number. MY18 PRICE CHANGE SUMMARY Series MSRP Chg ($) MSRP Chg (%) SOP 4Runner $ % Aug-17 Corolla $ % Aug-17 Corolla im $ % Aug-17 Highlander $ % Oct-17 Highlander Hybrid $ % Oct-17 Land Cruiser $ (1110) (1.3%) Aug-17 RAV4 $ - 0.0% Aug-17 RAV4 Hybrid $ - 0.0% Aug-17 Sequoia $ 2, % Aug-17 Yaris ia $ - 0.0% Aug-17 Tundra $ % Aug-17 I. 2018MY RAV4 / RAV4 HV will carryover and sustain the mid- 17 price reposition. Pricing is a carryover into 18MY unchanged. Additionally, Extra Value Package (EVP) support will also carryover for 18MY with only one minor change: the "Premium" Extra Value Package (VO) will be discontinued to simplify packaging options. NOTE: MSRP information for Adventure grade will be released in late August in a second announcement, ahead of start of production in early September.

2 2018MY RAV4 / RAV4 HV will carryover featuring the mid- 17 price reposition & EVPs. Model # Grade Extra Value Packages MSRP MSRP Chg ($) 4440, XLE VL "Plus" Extra Value Package - Smart Key System, $800 $ Blind Spot Monitor and Rear Cross Traffic Alert, Roof rails, and Entune Audio Plus with Connected Navigation. VP "Power Plus" Extra Value Package - Heightadjustable $1,215 $0 power liftgate with jam protection, Smart Key System, Blind Spot Monitor and Rear Cross Traffic Alert, Roof rails, and Entune Audio Plus with Connected Navigation. VQ "Power Premium" Extra Value Package - Heightadjustable power liftgate with jam protection, Smart Key System, Blind Spot Monitor and Rear Cross Traffic Alert, Roof rails, and Entune Premium Audio $1,740 $0 4470, 4472 with Integrated Navigation and App Suite. SE VP "Power" Extra Value Package - Height-adjustable power liftgate with jam protection, Smart Key System, Blind Spot Monitor and Rear Cross Traffic Alert, and Frameless auto-dimming rearview mirror with HomeLink. $1,010 $0 II. MY18 Sequoia Enhancements: Grades - SR5 TRD Sport New Grade for Sequoia (SOP Oct. 17, pricing to be published on a later date). Note: Sequoia TRD Sport is a new grade also offering an optional premium package called the TRD Sport Premium Package. Limited Platinum Exterior - New Front Grille and Insert, Bumper Opening Surround, distinctive to SR5/Limited, TRD Sport and Platinum, bumper opening and fog light chrome surround on TRD Sport, Limited and Platinum Grades New LED Headlights with LED DRL and LED Fog lights New 18 five spoke alloy wheel for SR5, refreshed finish on 20 (Dark Silver painted inserts on Limited, Machined Finish on Platinum) Darkened Taillight Bezel Interior - New IP Gauge Cluster with Optitron Illumination New 4.2 MID with enhanced illumination and vehicle info including TSS-P New Black Leather Seats Opt (TRD Sport only) Updated center speaker grille smoothed to the surrounding dashboard

3 Safety and Convenience - TSS-P (standard on all grades) includes Pre-Collision System w/pedestrian Detection (PCS w/pd, Lane Departure Alert (LDA) with Sway Warning System (SWS), Automatic High Beams (AHB) and Dynamic Radar Cruise Control (DRCC) Blind Spot Monitor (BSM) and Rear Cross Traffic Alert (RCTA) (standard on all grades) Front and Rear Park Assist (standard on all grades) Interior trim, wood-like accents (Birds-Eye Maple appearance) updated on Platinum Exterior Colors - 18MY Sequoia will be available in the following colors: Super White Magnetic Gray Metallic Silver Sky Metallic Blizzard Pearl Sizzling Crimson Midnight Black Metallic - New Shoreline Blue Pearl New Toasted Walnut Pearl New MY18 Sequoia TRD Sport (SOP Oct. 17): Performance Upgrades Exterior TRD Sport Tuned Bilstein Shocks TRD Sport Tuned Front & Rear Anti-Sway Bars New Front Grille with Gloss Black Grille Insert Lower Bumper Opening and Fog light Chrome Surround Metallic Black Mirror Caps 20 Alloy Black Sport Wheels Black Satin Finish TRD Sport badging on front doors Metallic black and chrome Sequoia badge on liftgate SR5, 4x4, 5.7 and FFV badges removed Colors: Super White, Magnetic Gray Metallic & Midnight Black Metallic Interior Black Fabric 7-passenger seating Black Leather Captain Chair Seats (only Sequoia w/black Leather Seats) included in the Optional TRD Sport Premium Package TRD Shift Knob TRD Sport Floor Mats TRD Sport Sill Protectors Super White Magnetic Gray Metallic

4 Options and Packages (All Grades): MY18 Sequoia Options & Packages Options Entune Premium JBL Synthesis Audio with Integrated Navigation and App Suite includes Entune Premium Audio and App Suite plus 14 JBL speakers, subwoofer and amplifier 7-passenger seating with leather trim and second-row captain's chairs Rear-seat Blu-ray Disc player with 9-inch display, two wireless headphones [headphones], wireless remote and rear audio system with 120V AC power outlet and RCA jacks Packages Premium Package -- includes 8-passenger leather trimmed seats, heated 10-way power-adjustable driver's seat and 4-way poweradjustable front passenger seat, power reclining and fold-flat 3rd row seating, power liftgate with jam protection, Entune Premium Audio with Integrated Navigation and App Suite, Auto-dimming rearview mirror with compass and HomeLink [homelink] universal transceiver. TRD Sport Premium Package -- includes 7-passenger black leather-trimmed seats with contrast stitching, heated 10-way poweradjustable driver's seat and 4-way power-adjustable front passenger seat, power reclining and fold-flat 3rd row seating, power liftgate with jam protection, Entune Premium Audio with Integrated Navigation and App Suite, Auto-dimming rearview mirror with compass and HomeLink [homelink] universal transceiver. Premium JBL Audio and Convenience Package -- includes Entune Premium JBL Synthesis Audio with Integrated Navigation and App Suite, two-position power memory driver's seat and memory outside mirrors. SR5 TRD Sport Limited Platinum P S P O S O S O S O O S III. MY18 Tundra Enhancements Standard Toyota Safety Sense P (TSS-P) is standard on all grades o Pre-Collision System with Pedestrian Detection (PCS w/pd), Lane Departure Alert (LDA), Automatic High Beams (AHB) and Dynamic Radar Cruise Control (DRCC) (Steering Assist (SA) is not available on the Tundra) Updates to the TRD Off-Road Package o The TRD Sport package and TRD Off-Road package updates continue to enhance the strong equity within the TRD brand across Toyota s body-on-frame vehicles. New TRD Sport package (SOP Oct. 17). Note: Tundra TRD Sport package is a package available on the SR5 grade (details below). Mentioned earlier, Sequoia TRD Sport is an additional grade with optional TRD Sport Premium Package. Targeting younger, style-oriented buyers, Tundra TRD Sport slots between the SR5 and Limited grades and aligns with the Tacoma TRD Sport grade. o SR5 Grade, Crew Max or Double Cab, 4x4 or 4x2, iforce 5.7L V8

5 Performance Upgrades: o Sport Tuned Bilstein Shocks o TRD Front & Rear Anti-Sway Bars Key Exterior Styling: o Color keyed mirrors, front and rear bumpers, and hood scoop o 20 silver alloy wheels with black accents o LED headlights with smoked bezel, LED DRLs and LED Fog Lights o Dark gray honeycomb-style grille with body color surround o TRD Sport bedside graphic Key Interior Features: o TRD shift knob o TRD Sport floor mats Limited o Updated silver billet-style grille with chrome surround o LED Headlights, LED DRLs, LED Fog Lights o Dark accents added to existing wheels o Wood-styled interior trim with matte finish Platinum o Updated black honeycomb-style grille with color keyed surround o LED Headlights, LED DRLs, and LED Fog Lights 1794 Edition o Updated chrome billet-style grille with chrome surround o LED Headlights, LED DRLs, and LED Fog Lights TRD Off Road Package o Adds LED Headlights with smoked bezels, LED DRLs, LED fog lights to SR5, Limited, and 1794 Edition models o Calvary Blue (8W2) paint available on Tundra Limited when equipped with TRD Off Road Package o TRD Off Road floor mats are added to SR5 and Limited models SR/SR5 o Updated honeycomb-style grille o Halogen headlights with dark bezels and LED DRLs o SR5 features Halogen fog lights Updated Interior Features: o New gauge design and larger MID to accommodate TSS-P Updated Exterior Features: o New Smoked Mesquite color available on Limited, Platinum and 1794 Tundra TRD Pro Grade goes dark for MY18 and B-Cab is discontinued

6 IV. MY18 4Runner will carryover from MY17, with the following spec changes: Two new PPO packages and new TRD Pro exterior color, outlined below: Wilderness Package (SR5, SR5 Premium, TRD Off-Road, TRD Off-Road Premium) Includes: Roof Rack Cross Bars, All-Weather Floor Liners, Cargo Tray TRD Enhancement Package (TRD Off-Road, TRD Off-Road Premium) Includes: TRD 17-in Matte Gray Alloy Wheels, TRD Stamped Aluminum Front Skid Plate The Runner TRD Pro will be available in the following exterior colors: Cavalry Blue (8W2) TRD Pro exclusive color Super White (040) Midnight Black (218) 4Runner EVP Keep It Wild Savings will also continue for the duration of the MY18: Limited $1,000 off MSRP SR5 Premium & TRD Off-Road Premium $750 off MSRP SR5 and TRD Off-Road $500 off MSRP Trail and Trail Premium were rebadged last year to TRD Off-Road and TRD Off-Road Premium, respectively. Capitalizing on the strong equity within the TRD brand, directionally this aligns with a move towards building a consistent TRD grade strategy across body-on-frame vehicles. 4Runner continues its streak of resale value awards with the KBB 2016 Best Resale Value Top 10 (#2) and the 2016 Best Resale for the Mid-Size SUV/Crossover category. V. MY18 Yaris ia will carryover from MY17. No spec change. VI. MY18 Corolla will carryover from MY17, with exception of the following added spec: All grades receive a lighted vanity mirror XLE receives a leather wrapped steering wheel VII. MY18 Corolla im will carryover from MY17. No spec change. VIII. MY18 Highlander / Highlander HV will carryover from MY17. No spec change. IX. MY18 Land Cruiser will carryover from MY17, with the following spec changes: Power rear door liftgate becomes a new standard feature New key fob including remote rear door liftgate operation button Key on/off swing-away exterior mirrors becomes a new standard feature Rear-seat entertainment (RSE) is now a stand-alone option

7 MY18 SERIES PRICE CHANGE TIMING: Series Model # Grade Current MSRP New MSRP MSRP Chg ($) MSRP Chg (%) Effective Date 4Runner RUNNER 4X2 SR5 V6 $ 34,210 $ 34,410 $ % Aug-17 4Runner RUNNER 4X2 SR5 PREMIUM V6 $ 36,040 $ 36,240 $ % Aug-17 4Runner RUNNER 4X2 LIMITED V6 $ 42,525 $ 42,725 $ % Aug-17 4Runner RUNNER 4X4 SR5 V6 $ 36,085 $ 36,285 $ % Aug-17 4Runner RUNNER 4X4 SR5 PREMIUM V6 $ 37,915 $ 38,115 $ % Aug-17 4Runner RUNNER 4X4 LIMITED V6 $ 44,560 $ 44,760 $ % Aug-17 4Runner RUNNER 4X4 TRD OFF ROAD V6 $ 37,335 $ 37,535 $ % Aug-17 4Runner RUNNER 4X4 TRD OFF ROAD PREMIUM V6 $ 39,295 $ 39,495 $ % Aug-17 4Runner RUNNER 4X4 TRD PRO V6 $ 42,400 $ 42,675 $ % Aug-17 Corolla 1832 COROLLA L $ 18,500 $ 18,550 $ % Aug-17 Corolla 1852 COROLLA LE $ 18,935 $ 18,985 $ % Aug-17 Corolla 1856 COROLLA XLE $ 21,825 $ 21,985 $ % Aug-17 Corolla 1863 COROLLA SE MT $ 21,665 $ 21,715 $ % Aug-17 Corolla 1864 COROLLA SE CVT $ 20,445 $ 20,495 $ % Aug-17 Corolla 1866 COROLLA XSE $ 22,680 $ 22,730 $ % Aug-17 Corolla 1872 COROLLA LE ECO $ 19,335 $ 19,385 $ % Aug-17 Corolla 1874 COROLLA LE ECO PKG 1 $ 19,335 $ 19,385 $ % Aug-17 Corolla im 6272 COROLLA im CVT $ 19,490 $ 19,590 $ % Aug-17 Corolla im 6273 COROLLA im MT $ 18,750 $ 18,850 $ % Aug-17 Highlander 6942 LE - L4 FWD $ 30,630 $ 31,030 $ % Oct-17 Highlander 6946 LE - V6 FWD $ 32,680 $ 33,080 $ % Oct-17 Highlander 6947 LE Plus - V6 FWD $ 35,060 $ 35,460 $ % Oct-17 Highlander 6948 LE - V6 AWD $ 34,140 $ 34,540 $ % Oct-17 Highlander 6949 LE Plus - V6 AWD $ 36,520 $ 36,920 $ % Oct-17 Highlander 6950 SE - V6 FWD $ 39,690 $ 40,090 $ % Oct-17 Highlander 6951 XLE - V6 FWD $ 38,520 $ 38,920 $ % Oct-17 Highlander 6952 SE - V6 AWD $ 41,150 $ 41,550 $ % Oct-17 Highlander 6953 XLE - V6 AWD $ 39,980 $ 40,380 $ % Oct-17 Highlander 6954 Limited - V6 FWD $ 41,680 $ 42,080 $ % Oct-17 Highlander 6955 Limited PLT - V6 FWD $ 44,800 $ 45,200 $ % Oct-17 Highlander 6956 Limited - V6 AWD $ 43,140 $ 43,540 $ % Oct-17 Highlander 6957 Limited PLT - V6 AWD $ 46,260 $ 46,660 $ % Oct-17 Highlander Hybrid 6964 LE - V6 AWD-i $ 36,270 $ 36,670 $ % Oct-17 Highlander Hybrid 6965 XLE - V6 AWD-i $ 41,330 $ 41,730 $ % Oct-17 Highlander Hybrid 6966 Limited - V6 AWD-i $ 44,760 $ 45,160 $ % Oct-17 Highlander Hybrid 6967 Limited PLT - V6 AWD-i $ 47,880 $ 48,280 $ % Oct-17 Land Cruiser 6156 LAND CRUISER $ 84,775 $ 83,665 $ (1,110) (1.3%) Aug-17 RAV RAV4 4x2 LE $ 24,410 $ 24,410 $ - 0.0% Aug-17 RAV RAV4 4x4 LE $ 25,810 $ 25,810 $ - 0.0% Aug-17 RAV RAV4 4x2 XLE $ 25,500 $ 25,500 $ - 0.0% Aug-17 RAV RAV4 4x4 XLE $ 26,900 $ 26,900 $ - 0.0% Aug-17 RAV RAV4 4x2 LTD $ 30,905 $ 30,905 $ - 0.0% Aug-17 RAV RAV4 4x4 LTD $ 32,305 $ 32,305 $ - 0.0% Aug-17 RAV RAV4 4x2 SE $ 28,790 $ 28,790 $ - 0.0% Aug-17 RAV RAV4 4x4 SE $ 30,190 $ 30,190 $ - 0.0% Aug-17 RAV RAV4 4x2 Platinum $ 34,750 $ 34,750 $ - 0.0% Aug-17 RAV RAV4 4x4 Platinum $ 36,150 $ 36,150 $ - 0.0% Aug-17 RAV4 Hybrid 4436 RAV4 HV LE Plus $ 27,910 $ 27,910 $ - 0.0% Aug-17 RAV4 Hybrid 4444 RAV4 HV XLE $ 29,030 $ 29,030 $ - 0.0% Aug-17 RAV4 Hybrid 4454 RAV4 HV LTD $ 34,030 $ 34,030 $ - 0.0% Aug-17 RAV4 Hybrid 4456 RAV4 HV SE $ 32,185 $ 32,185 $ - 0.0% Aug-17 Sequoia 7917 Sequoia 4x2 SR5 8-Pass 5.7L V8 $ 45,560 $ 48,300 $ 2, % Aug-17 Sequoia 7927 Sequoia 4x2 LTD 8-Pass 5.7L V8 $ 54,350 $ 56,795 $ 2, % Aug-17 Sequoia 7931 Sequoia 4x2 PLT 7-Pass 5.7L V8 $ 62,090 $ 64,010 $ 1, % Aug-17 Sequoia 7919 Sequoia 4x4 SR5 8-Pass 5.7L V8 $ 48,785 $ 51,525 $ 2, % Aug-17 Sequoia 7929 Sequoia 4x4 LTD 8-Pass 5.7L V8 $ 57,575 $ 60,020 $ 2, % Aug-17 Sequoia 7933 Sequoia 4x4 PLT 7-Pass 5.7L V8 $ 65,315 $ 67,235 $ 1, % Aug-17 Sequoia 7940 Sequoia 4x4 SR5 8-Pass 5.7L V8 $ 48,785 $ 51,525 $ 2, % Aug-17 Sequoia 7942 Sequoia 4x4 LTD 8-Pass 5.7L V8 $ 57,575 $ 60,020 $ 2, % Aug-17 Sequoia 7944 Sequoia 4x4 PLT 7-Pass 5.7L V8 $ 65,315 $ 67,235 $ 1, % Aug-17 Yaris ia 6262 Yaris ia AT $ 17,050 $ 17,050 $ - 0.0% Aug-17 Yaris ia 6263 Yaris ia MT $ 15,950 $ 15,950 $ - 0.0% Aug-17

8 MY18 TUNDRA PRICE CHANGE TIMING: Model # Grade Engine Drive Cab Current MSRP New MSRP MSRP Chg $ MSRP Chg % Effective Date 8239 SR Small V8 4X2 C $30,120 $31,120 $1, % Aug SR Large V8 4X2 C $31,390 $32,390 $1, % Aug SR FFV Large V8 4X2 C $31,390 $32,390 $1, % Aug SR Large V8 4X2 C $31,720 $32,720 $1, % Aug SR FFV Large V8 4X2 C $31,720 $32,720 $1, % Aug SR5 Small V8 4X2 C $31,930 $32,830 $ % Aug SR5 Large V8 4X2 C $33,200 $34,100 $ % Aug SR5 FFV Large V8 4X2 C $33,200 $34,100 $ % Aug SR5 Large V8 4X2 C $33,530 $34,430 $ % Aug SR5 FFV Large V8 4X2 C $33,530 $34,430 $ % Aug LTD Large V8 4X2 C $39,380 $40,385 $1, % Aug LTD FFV Large V8 4X2 C $39,380 $40,385 $1, % Aug SR Small V8 4X4 C $33,170 $34,170 $1, % Aug SR Large V8 4X4 C $34,440 $35,440 $1, % Aug SR FFV Large V8 4X4 C $34,440 $35,440 $1, % Aug SR Large V8 4X4 C $34,770 $35,770 $1, % Aug SR FFV Large V8 4X4 C $34,770 $35,770 $1, % Aug SR5 Small V8 4X4 C $34,980 $35,880 $ % Aug SR5 Large V8 4X4 C $36,250 $37,150 $ % Aug SR5 FFV Large V8 4X4 C $36,250 $37,150 $ % Aug SR5 Large V8 4X4 C $36,580 $37,480 $ % Aug SR5 FFV Large V8 4X4 C $36,580 $37,480 $ % Aug LTD Large V8 4X4 C $42,430 $43,435 $1, % Aug LTD FFV Large V8 4X4 C $42,430 $43,435 $1, % Aug SR5 Small V8 4X2 D $34,250 $35,250 $1, % Aug SR5 Large V8 4X2 D $35,520 $36,520 $1, % Aug SR5 FFV Large V8 4X2 D $35,520 $36,520 $1, % Aug LTD Large V8 4X2 D $41,245 $42,250 $1, % Aug LTD FFV Large V8 4X2 D $41,245 $42,250 $1, % Aug PLT Large V8 4X2 D $47,080 $47,080 $0 0.0% Aug PLT FFV Large V8 4X2 D $47,080 $47,080 $0 0.0% Aug Large V8 4X2 D $47,080 $47,080 $0 0.0% Aug FFV Large V8 4X2 D $47,080 $47,080 $0 0.0% Aug SR5 Small V8 4X4 D $37,300 $38,300 $1, % Aug SR5 Large V8 4X4 D $38,570 $39,570 $1, % Aug SR5 FFV Large V8 4X4 D $38,570 $39,570 $1, % Aug LTD Large V8 4X4 D $44,295 $45,300 $1, % Aug LTD FFV Large V8 4X4 D $44,295 $45,300 $1, % Aug PLT Large V8 4X4 D $50,130 $50,130 $0 0.0% Aug PLT FFV Large V8 4X4 D $50,130 $50,130 $0 0.0% Aug Large V8 4X4 D $50,130 $50,130 $0 0.0% Aug FFV Large V8 4X4 D $50,130 $50,130 $0 0.0% Aug-17 If you have any questions, please contact your Fleet Field Manager or the Fleet Customer Service Group at Thank you for your continued support.

2018 TOYOTA FULL-LINE PRICING

2018 TOYOTA FULL-LINE PRICING ***Prices are manufacturer s suggested retail prices (MSRP) and do not include delivery, processing and handling fee, which is $1,295 for large pickup truck (Tundra only)