<SEC-DOCUMENT>0001104659-22-068122.txt : 20220603
<SEC-HEADER>0001104659-22-068122.hdr.sgml : 20220603
<ACCEPTANCE-DATETIME>20220603163741
ACCESSION NUMBER:		0001104659-22-068122
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20211231
FILED AS OF DATE:		20220603
DATE AS OF CHANGE:		20220603

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FORD MOTOR CO
		CENTRAL INDEX KEY:			0000037996
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLES & PASSENGER CAR BODIES [3711]
		IRS NUMBER:				380549190
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-03950
		FILM NUMBER:		22995137

	BUSINESS ADDRESS:	
		STREET 1:		ONE AMERICAN ROAD
		CITY:			DEARBORN
		STATE:			MI
		ZIP:			48126
		BUSINESS PHONE:		3133223000

	MAIL ADDRESS:	
		STREET 1:		ONE AMERICAN RD
		CITY:			DEARBORN
		STATE:			MI
		ZIP:			48126
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>tm2216265d2_11k.htm
<DESCRIPTION>FORM 11-K
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #010101"><B>UNITED STATES</B></P>

<P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #010101"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #010101"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #010101"><B>FORM&nbsp;11-K</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #010101">FOR ANNUAL REPORTS OF EMPLOYEE
STOCK PURCHASE, SAVINGS<BR>
 AND SIMILAR PLANS PURSUANT TO SECTION&nbsp;15(d)&nbsp;OF THE <BR>
SECURITIES EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; color: #010101">(Mark One)</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #010101"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">[X]</TD><TD>ANNUAL REPORT PURSUANT TO SECTION&nbsp;15{d) OF THE SECURITIES EXCHANGE ACT OF 1934<BR>
 For the fiscal year ended <U>December&nbsp;31,
2021</U></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #010101"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 9.5pt">[&nbsp; ]</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9.5pt">TRANSITION REPORT PURSUANT TO
SECTION&nbsp;15{d) OF THE SECURITIES EXCHANGE ACT OF 1934<BR>
 <FONT STYLE="color: #010101">For the trans</FONT><FONT STYLE="color: #1d1d1d">i</FONT><FONT STYLE="color: #010101">tion
period from<U>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>t&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;__</FONT></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; color: #010101">Commission File Number: <U>1-3950</U></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #010101"><B>FORD MOTOR COMPANY SAVINGS
AND STOCK</B></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #010101"><B>INVESTMENT PLAN FOR SALARIED
EMPLOYEES</B></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #010101">(Full title of the plan)</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #010101">FORD MOTOR COMPANY</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #010101">One American Road</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #010101">Dearborn, Michigan
48126</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: #010101">(Name of the issuer
of the securities held</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: #010101">pursuant to the plan and the address of</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: #010101"></FONT><FONT STYLE="color: #1d1d1d">i</FONT><FONT STYLE="color: #010101">ts
principal executive office)</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #050505"><B><U>Required lnformation</U></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #050505"><U>Financial Statements and Schedules</U></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; color: #050505">Statements of Net Assets Available for
Benefits, as of December&nbsp;31, 2021 and December&nbsp;31, 2020</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; color: #050505">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; color: #050505">Statement of Changes in Net Assets Available for Benefits for the year
ended December&nbsp;31, 2021</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; color: #050505">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; color: #050505">Schedule of Assets (Held at End of Year) as of December&nbsp;31, 2021</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #050505"><U>EXHIBITS</U></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 97%; margin-left: 0.25in">
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="width: 33%; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #050505">Designation</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 34%"><B>Description</B></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 33%"><B>Method of Filing</B></TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #050505"><A HREF="tm2216265d2_ex23.htm" STYLE="-sec-extract: exhibit">Exhibit&nbsp;23</A></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><A HREF="tm2216265d2_ex23.htm" STYLE="-sec-extract: exhibit">Consent of BDO USA, LLP</A></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><A HREF="tm2216265d2_ex23.htm" STYLE="-sec-extract: exhibit">Filed with this Report</A></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #050505"><B><U>Signature</U></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in; color: #050505"><FONT STYLE="font-size: 10pt"><I>The
Plan. </I></FONT><FONT STYLE="font-size: 10.5pt">Pursuant to the requirements of the Securities Exchange Act of </FONT>1934, <FONT STYLE="font-size: 10.5pt">as
amended, the Ford Motor Company Savings and Stock Investment Plan </FONT>for <FONT STYLE="font-size: 10.5pt">Salaried Employees has duly
caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #050505">FORD
MOTOR COMPANY</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt; color: #050505">SAVINGS AND
STOCK </FONT><FONT STYLE="color: #181818">INVESTMENT </FONT><FONT STYLE="color: #050505">PLAN FOR</FONT></P>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="color: #050505">SALARIED EMPLOYEES</FONT></P>

</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Date: June&nbsp;3, 2022</FONT></TD>
    <TD STYLE="width: 3%; font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 47%; font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">/s/ Robin Wood</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Robin Wood,</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Director, Benefits and Global Wellbeing</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Ford Motor Company</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in"></P>

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<P STYLE="font: 20pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>Ford Motor Company<BR>
Savings and Stock Investment Plan<BR>
for Salaried Employees</B></P>



<P STYLE="border-bottom: Black 4.5pt solid; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>Financial Report</B></P>

<P STYLE="font: 5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>December&nbsp;31, 2021</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-bottom: Black 4.5pt solid; font: 16pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Ford Motor Company Savings and Stock Investment Plan for
Salaried Employees</B></P>

<P STYLE="font: 2pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: center; font: bold 12pt Arial, Helvetica, Sans-Serif"><B>Contents</B></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: center; font: bold 12pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; text-align: left"><A HREF="#sp1-001">Report of Independent Registered Public Accounting Firm</A></TD>
    <TD STYLE="font: 12pt Arial, Helvetica, Sans-Serif; text-align: center"><A HREF="#sp1-001">1</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 88%; font: bold 12pt Arial, Helvetica, Sans-Serif; text-align: left"><A HREF="#sp1-002">Statements of Net Assets Available for Benefits</A></TD>
    <TD STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 12%; text-align: center"><A HREF="#sp1-002">2</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; text-align: left"><A HREF="#sp1-003">Statement of Changes in Net Assets Available for Benefits</A></TD>
    <TD STYLE="font: 12pt Arial, Helvetica, Sans-Serif; text-align: center"><A HREF="#sp1-003">3</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; text-align: left"><A HREF="#sp1-004">Notes to Financial Statements</A></TD>
    <TD STYLE="font: 12pt Arial, Helvetica, Sans-Serif; text-align: center"><A HREF="#sp1-004">4-13</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; text-align: left"><A HREF="#Schedule_of_Assets">Schedule of Assets (Held at End of Year)</A></TD>
    <TD STYLE="font: 12pt Arial, Helvetica, Sans-Serif; text-align: center"><A HREF="#Schedule_of_Assets">Schedule 1</A></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-bottom: Black 4.5pt solid; font: 16pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Ford Motor Company Savings and Stock Investment Plan for
Salaried Employees</B></P>

<P STYLE="font: 2pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><A NAME="sp1-001"></A><B>Report of Independent Registered Public Accounting Firm</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">To the Plan Administrator and Plan Participants</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Ford Motor Company Savings and Stock Investment Plan for Salaried
Employees</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Dearborn, Michigan</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Opinion on the Financial Statements</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">We have audited the accompanying statements of
net assets available for benefits of the Ford Motor Company Savings and Stock Investment Plan for Salaried Employees (the &ldquo;Plan&rdquo;)
as of December&nbsp;31, 2021 and 2020, the related statement of changes in net assets available for benefits for the year ended December&nbsp;31,
2021, and the related notes (collectively, the &ldquo;financial statements&rdquo;). In our opinion, the financial statements present fairly,
in all material respects, the net assets available for benefits of the Plan as of December&nbsp;31, 2021 and 2020, and the changes in
net assets available for benefits for the year ended December&nbsp;31, 2021, in conformity with accounting principles generally accepted
in the United States of America.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Basis for Opinion</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">These financial statements are the responsibility
of the Plan&rsquo;s management. Our responsibility is to express an opinion on the Plan&rsquo;s financial statements based on our audits.
We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (&ldquo;PCAOB&rdquo;) and
are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules&nbsp;and
regulations of the Securities and Exchange Commission and the PCAOB.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">We conducted our audits in accordance with the
standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to
perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of
internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan&rsquo;s internal
control over financial reporting. Accordingly, we express no such opinion.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Our audits included performing procedures to
assess the risk of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond
to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Our audits also included evaluating the accounting principles used and significant estimates made by the Plan&rsquo;s management, as well
as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Supplemental Information</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The supplemental information in the accompanying
Schedule of Assets (Held at End of Year) as of December&nbsp;31, 2021, has been subjected to audit procedures performed in conjunction
with the audit of the Plan&rsquo;s financial statements. The supplemental information is presented for the purpose of additional analysis
and is not a required part of the financial statements but included supplemental information required by the Department of Labor&rsquo;s
Rules&nbsp;and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information
is the responsibility of the Plan&rsquo;s management. Our audit procedures included determining whether the supplemental information reconciles
to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness
and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information,
we evaluated whether the supplemental information, including its form and
content, is presented in conformity with the Department of Labor&rsquo;s Rules&nbsp;and Regulations for Reporting and Disclosure
under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all
material respects, in relation to the financial statements as a whole.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">/s/ BDO USA, LLP</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">We have served as the Plan&rsquo;s auditor since 2019.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Troy, Michigan</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">June&nbsp;3, 2022</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-bottom: Black 4.5pt solid; font: 16pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Ford Motor Company Savings
and Stock Investment Plan for Salaried Employees</B></P>

<P STYLE="font: 2pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: right; font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><A NAME="sp1-002"></A><B>Statements of Net Assets Available for Benefits</B></P>

<P STYLE="text-align: right; font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 351pt">(in thousands)</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-family: Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid">2021</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0.375in; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0.375in; text-align: left; width: 62%">Investment in Ford Defined
    Contribution Plans Master Trust (Note 3)</TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 15%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">17,690,926</TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 15%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">14,957,535</TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; font: 10pt Arial, Helvetica, Sans-Serif">Receivables:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0.375in; text-align: left">Notes receivable from participants</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">71,831</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">74,283</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0.375in">Employee</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">19,275</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">19,648</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0.375in; padding-bottom: 1pt">Employer</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">13,322</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">12,379</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0.75in; text-align: left; padding-bottom: 1pt">Total receivables</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">104,428</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">106,310</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 2.5pt">Net Assets Available for Benefits</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: right">17,795,354</TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: right">15,063,845</TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT>See Notes to Financial Statements</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-bottom: Black 4.5pt solid; font: 16pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Ford Motor Company Savings and Stock Investment Plan for
Salaried Employees</B></P>

<P STYLE="font: 2pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><A NAME="sp1-003"></A><B>Statement of Changes in
Net Assets Available for Benefits</B></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><B>Year Ended December&nbsp;31,
2021</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt">(in thousands)</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-family: Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">Additions</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 20pt; font: 10pt Arial, Helvetica, Sans-Serif">Contributions</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 81%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: 20pt; padding-left: 0in">&nbsp;&nbsp;&nbsp;Employee contributions</TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 15%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">659,296</TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 0in">&nbsp;&nbsp;&nbsp;Employer contributions</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">244,183</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 6pt; vertical-align: bottom">
    <TD STYLE="font-size: 6pt; padding-left: 0in">&nbsp;</TD><TD STYLE="font-size: 6pt">&nbsp;</TD>
    <TD STYLE="font-size: 6pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 6pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 6pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: 80pt; padding-left: 0in">Total contributions</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">903,479</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 6pt; vertical-align: bottom">
    <TD STYLE="font-size: 6pt; padding-left: 0in">&nbsp;</TD><TD STYLE="font-size: 6pt">&nbsp;</TD>
    <TD STYLE="font-size: 6pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 6pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 6pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: 20pt; padding-left: 0in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: 20pt; padding-left: 0in">Net investment gain of
    Plan's interest in Ford Defined Contribution Plans Master Trust (Note 3)</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">3,105,988</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 6pt; vertical-align: bottom">
    <TD STYLE="font-size: 6pt; padding-left: 0in">&nbsp;</TD><TD STYLE="font-size: 6pt">&nbsp;</TD>
    <TD STYLE="font-size: 6pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 6pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 6pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 0in">Interest income on notes receivable from participants</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">2,860</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 6pt; vertical-align: bottom">
    <TD STYLE="font-size: 6pt; padding-left: 0in">&nbsp;</TD><TD STYLE="font-size: 6pt">&nbsp;</TD>
    <TD STYLE="font-size: 6pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 6pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 6pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: 80pt; padding-left: 0in">Total additions</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">4,012,327</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 6pt; vertical-align: bottom">
    <TD STYLE="font-size: 6pt; padding-left: 0in">&nbsp;</TD><TD STYLE="font-size: 6pt">&nbsp;</TD>
    <TD STYLE="font-size: 6pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 6pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 6pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; padding-left: 0in">Deductions</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: 20pt; padding-left: 0in">Benefits paid to participants</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">(1,265,917</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: 20pt; padding-left: 0in">Ford Stock dividend payments to participants</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">(1,100</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 0in">Administrative&nbsp;&amp; other expenses</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">(13,801</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">)</TD></TR>
  <TR STYLE="font-size: 6pt; vertical-align: bottom">
    <TD STYLE="font-size: 6pt; padding-bottom: 1pt; padding-left: 0in">&nbsp;</TD><TD STYLE="font: 6pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font: 6pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 6pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 6pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: 80pt; padding-left: 0in">Total deductions</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">(1,280,818</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; padding-left: 0in">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 0in">Net Increase in Net Assets Available for Benefits</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">2,731,509</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 6pt; vertical-align: bottom">
    <TD STYLE="font-size: 6pt; padding-left: 0in">&nbsp;</TD><TD STYLE="font-size: 6pt">&nbsp;</TD>
    <TD STYLE="font-size: 6pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 6pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 6pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 0in">Net Assets Available for Benefits</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-indent: 20pt; padding-left: 0in">Beginning of year</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">15,063,845</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt; text-indent: 20pt; padding-left: 0in">End of year</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: right">17,795,354</TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT>See Notes to Financial Statements</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-bottom: Black 4.5pt solid; font: 16pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Ford Motor Company Savings and Stock Investment Plan for
Salaried Employees</B></P>

<P STYLE="font: 2pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><A NAME="sp1-004"></A><B>Notes to Financial Statements</B></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right; text-indent: 372pt"><B>December&nbsp;31, 2021 and
2020</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Note 1 - Description of the Plan</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The following description of the Ford
Motor Company Savings and Stock Investment Plan for Salaried Employees (the &ldquo;Plan&rdquo;) provides only general information. Participants
should refer to the provisions of the Plan, which are governed in all respects by the detailed terms and conditions contained in the Plan
document. The Plan was established effective February&nbsp;1, 1956. The Ford Retirement Plan (FRP) was merged with and into the Plan effective
December&nbsp;31, 2018. Two subsidiaries, Quantum Signal and Spin, were added to the Plan in 2020 and Transloc was added in 2021.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Type
and Purpose of the Plan</B></FONT> - The Plan is a defined contribution plan established to encourage and facilitate systematic retirement
savings and investment by eligible salaried employees of Ford Motor Company (the &ldquo;Company&rdquo;) and certain subsidiaries, and
to provide them with an opportunity to become stockholders of the Company. The Plan includes provisions for voting shares of Company stock.
It is subject to certain provisions of the Employee Retirement Income Security Act of 1974, as amended (&ldquo;ERISA&rdquo;), applicable
to defined contribution pension plans.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Eligibility</B></FONT>
- Regular full-time salaried employees are eligible to participate in the Plan immediately following their date of hire or rehire, and,
are immediately eligible for any applicable Company matching contributions. Certain other part-time and temporary employees also may be
eligible to participate in the Plan. Newly hired employees are automatically enrolled in the Plan at an initial contribution rate of 5
percent of their base salary, though they may elect to cancel or change their automatic enrollment rate.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Contributions
and Vesting</B></FONT> - Participants can contribute a percentage of their base pay to the Plan on a pre-tax, Roth, and/or after-tax basis,
subject to federal tax law and Plan limits. Participants may also elect to contribute all, or a portion, of their distributions under
the Company&rsquo;s Annual Incentive Compensation Plan and the Ford Motor Credit Company&rsquo;s Flex Bonus Rewards. A contribution in
an amount corresponding to each election is made by the Company to the Plan on the participant&rsquo;s behalf. Subject to limits under
the Internal Revenue Code of 1986, as amended (the &quot;Code&quot;), pre-tax contributions are excluded from the participant&rsquo;s
federal and most state and local taxable income. The Company makes discretionary matching contributions (&ldquo;Company matching contributions&rdquo;)
at a rate of $0.90 for each dollar contributed up to 5 percent of participants' base salary deferred (as defined).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in">For eligible participants hired or re-hired on or after January&nbsp;1,
2004, the Company makes contributions to participants&rsquo; accounts (&ldquo;FRP Contributions&rdquo;) based on a fixed percentage of
a participant&rsquo;s monthly or semi-monthly base salary according to the Company&rsquo;s contribution schedule illustrated below:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 94%; margin-left: 0.5in">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><U>Age at Year End</U></TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif"><U>2021 Contribution Rate (Percent)</U></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 20%; text-align: left">Under Age 40</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1.5in; width: 40%; text-align: left">3.5%</TD>
    <TD STYLE="width: 40%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">Age 40 through 49</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1.5in; text-align: left">4.5</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">Age 50+</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 1.5in; text-align: left">5.5</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Subject to provisions of the Plan, participants
may elect to roll over amounts from other eligible retirement plans in accordance with the Code. For the year ended December&nbsp;31,
2021, rollovers from other eligible retirement plans totaled $237.8 million, which are included in employee contributions in the statement
of changes in net assets available for benefits.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-bottom: Black 4.5pt solid; font: 16pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Ford Motor Company Savings and Stock Investment Plan for
Salaried Employees</B></P>

<P STYLE="font: 2pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><B>Notes to Financial Statements</B></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right; text-indent: 372pt"><B>December&nbsp;31, 2021 and
2020</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Note 1 - Description of the Plan (Continued)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Participants are fully vested in account
balances related to their pre-tax, Roth, and after-tax contributions and earnings thereon. Pre-tax assets, Roth assets, after-tax assets,
and assets resulting from Company matching contributions and FRP Contributions are accounted for separately.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Company matching contributions and FRP
Contributions vest three years after the original date of hire. At that time, all assets attributable to Company matching contributions
and FRP Contributions held in participants&rsquo; accounts become vested, and all future contributions vest when they are made<B>.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Distributions
</B></FONT>- Pre-tax or Roth assets may not be withdrawn by participants until the termination of their employment or until they reach
59-1/2 years of age, except in the case of personal financial hardship. In-service withdrawals of vested Company matching contributions
are permissible for participants who are at least 59-1/2 years of age. Withdrawal of such contributions for participants less than 59-1/2
years of age is limited to those contributions that have been in the Plan for two years. FRP Contributions may not be withdrawn by participants
until termination of employment.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">After-tax assets can be withdrawn at
any time without restriction.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Distribution options include lump-sum,
partial, or installment payments. Eligible rollover distributions can be rolled over to an IRA or another employer's eligible retirement
plan.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Activity for participants in the Ford
Stock Fund who have elected to receive dividends paid in the form of cash instead of purchasing additional shares is reported in the statement
of changes in net assets available for benefits.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Participant
Accounts</B></FONT> - A participant&rsquo;s account balance is comprised of employee contributions, Company matching contributions and
FRP Contributions, if any, and investment income earned from the individual investment options selected by the participant less withdrawals,
loans, distributions, and fees. In the absence of participant investment directions, contributions are invested in a target date fund,
a qualified default investment alternative (&ldquo;QDIA&rdquo;) prescribed by final regulations issued by the Department of Labor. Allocations
are based on participant earnings, account balances, or specific participant transactions, as defined. The benefit to which a participant
is entitled is determined from the participant&rsquo;s vested account balance.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Master
Trust Investment Options and Participation</B></FONT> &ndash; Employee contributions, Company matching contributions and FRP Contributions
are invested in accordance with the participant&rsquo;s election in one or more investments, which are held in the Ford Defined Contribution
Plans Master Trust (the &ldquo;Master Trust&rdquo;) (see Note 3).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Transfer
of Assets</B></FONT> - The Plan permits the transfer of assets among investment options held by the Master Trust, subject to certain trading
restrictions imposed on some of the investment options.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Notes
Receivable from Participants </B></FONT>- The Plan permits participants to borrow from their pre-tax, Roth, after-tax, and rollover accounts.
Monthly notes receivable interest rates related to these borrowings are based on the prime rate published in The Wall Street Journal.
Participant notes receivable are collateralized by the participant&rsquo;s vested account balance.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Split-Segment; Name: 1 -->
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 16pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; border-bottom: Black 4.5pt solid"><FONT><B>Ford
Motor Company Savings and Stock Investment Plan for Salaried Employees</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><FONT><B>Notes
to Financial Statements</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right; text-indent: 372pt"><FONT><B>December&nbsp;31,
2021 and 2020</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Note 1 - Description of the Plan (Continued)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Prior to 2018, a participant was eligible
to take out one note receivable per calendar year and to have up to four notes receivable outstanding at any one time. Effective January&nbsp;1,
2018, participants can only have up to two
outstanding loans (previous loans are grandfathered) and the one loan per calendar year restriction is removed. General notes receivable
may be for a minimum of one year, but not exceeding five years. Notes receivable related to the purchase of a primary residence may be
for a maximum of ten years.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Forfeitures
and Plan Administration Expenses </B></FONT>- The Plan permits the Company to use assets forfeited by participants to pay plan administrative
expenses and, to the extent not used to pay such expenses, to reduce the Company&rsquo;s future contributions to the Plan.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company may pay certain plan administrative
expenses directly.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Party
in Interest Transactions </B></FONT>- Certain Master Trust investment options are investment products managed by State Street Global Advisors
(&ldquo;SSgA&rdquo;), which is the investment management division of State Street Bank and Trust Company, a wholly owned subsidiary of
State Street Corporation. State Street Bank and Trust Company is the trustee, as defined by the Plan, and the disbursement agent.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Note 2 - Summary of Significant Accounting Policies</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Basis
of Accounting &ndash; </B></FONT>The financial statements of the Plan are prepared on the accrual basis of accounting.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Investment
Valuation and Income Recognition</B></FONT> - The fair value of the Plan's interest in the Master Trust is based on the beginning of the
year value of the Plan's interest in the trust, plus actual contributions and allocated investment income, less actual distributions and
allocated administrative expense (see Note 3).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Investments held by the Master Trust
are stated at fair value, except for the synthetic guaranteed investment contracts (&ldquo;synthetic GICs&rdquo;) which are held through
the Master Trust&rsquo;s investment in the Interest Income Fund and valued at contract value. Since synthetic GICs are fully benefit-responsive,
contract value is the relevant measurement attribute for that portion of the net assets available for benefits attributable to the synthetic
GICs. Contract value represents contributions made under the contract, plus earnings, less participant withdrawals and administrative
expenses. Participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment at contract value.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Fair value is defined as the price that
would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement
date. See Note 4 for further discussion of fair value measurements.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Purchases and sales of securities are
recorded on a trade-date basis. Interest income is recorded as earned. Dividends are recorded on the ex-dividend date.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Notes
Receivable from Participants</B></FONT> - Notes receivable from participants are recorded at their unpaid principal balances plus any
accrued interest. Interest income is recorded on the accrual basis. Related fees are recorded as administrative expenses and are expensed
when incurred. Participant notes receivable are written off when deemed uncollectible. No allowance for credit losses has been recorded
as of December&nbsp;31, 2021 and 2020.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 16pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; border-bottom: Black 4.5pt solid"><FONT><B>Ford
Motor Company Savings and Stock Investment Plan for Salaried Employees</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><FONT><B>Notes
to Financial Statements</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right; text-indent: 372pt"><FONT><B>December&nbsp;31,
2021 and 2020</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Note 2 - Summary of Significant Accounting Policies (Continued)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt"><B>Investment Contracts </B></FONT>-
A synthetic GIC is a wrap contract paired with underlying investments, usually a portfolio of high-quality, short to intermediate-term
fixed-income securities and a short-term interest fund.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">A synthetic GIC credits a stated interest
rate. Investment gains and losses are amortized over the expected duration of the covered investments through the calculation of the
interest rate on a prospective basis. Synthetic GICs provide for a variable crediting rate, which resets on a periodic basis. The crediting
rate set by the wrap contracts resets quarterly. The quarterly crediting rate does not include the short-term investments (e.g., short-term
interest fund) used for benefit-responsive events. While the issuer of the wrap contract provides assurance that future adjustments to
the crediting rate cannot result in a crediting rate less than zero, the actual quarterly interest rate is impacted by the current yield
of the short-term investments.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The crediting rate is primarily based
on the current yield-to-maturity of the covered investments, plus or minus amortization of the difference between the market value and
contract value of the covered investments over the duration of the covered investments at the time of computation.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The crediting rate is most impacted by
the change in the annual effective yield to maturity of the underlying securities, but is also affected by the differential between the
contract value and the market value of the covered investments. This difference is amortized over the duration of the covered investments.
Depending on the change in duration from reset period to reset period, the magnitude of the impact to the crediting rate of the contract
to market difference is heightened or lessened. The crediting rate can be adjusted periodically, but in no event is the crediting rate
less than zero percent.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Certain events limit the ability of the
Master Trust to transact at contract value with the insurance company and the financial institution issuer. Such events include the following:
(i)&nbsp;material amendments to the Plan documents (including complete or partial plan termination or merger with another plan); (ii)&nbsp;changes
to the Plan&rsquo;s prohibition on competing investment options or deletion of equity wash provisions; (iii)&nbsp;bankruptcy of the plan
sponsor or other plan sponsor events (e.g., divestitures or spin-offs of a subsidiary) which cause a significant withdrawal from the Plan;
(iv)&nbsp;the failure of the trust to qualify for exemption from federal income taxes or any required prohibited transaction exemption
under ERISA; (v)&nbsp;any change in law, regulation, ruling, administrative or judicial position, or accounting requirement, applicable
to the Interest Income Fund or the Plan; or (vi)&nbsp;the delivery of any communication to Plan participants designed to influence a participant
not to invest in the Interest Income Fund. The plan administrator does not believe that the occurrence of any such event, which would
limit the Master Trust&rsquo;s ability to transact at contract value, is probable.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The synthetic investment contracts
generally impose conditions on both the Master Trust and the issuer. If an event of default occurs and is not cured, the
non-defaulting party may terminate the contract. The following may cause the Master Trust to be in default: a breach of material
obligation under the contract; a material misrepresentation; or a material amendment to the Plan agreement. The issuer may be in
default if it breaches a material obligation under the investment contract; makes a material misrepresentation; has a decline in its
long-term credit rating below a threshold set forth in the contract; is acquired or reorganized and the successor issuer does not
satisfy the investment or credit guidelines applicable to
issuers. If, in the event of default of an issuer, the Master Trust were unable to obtain a replacement investment contract,
withdrawing plans may experience losses if the value of the Master Trust&rsquo;s assets no longer covered by the contract is below
contract value.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 16pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; border-bottom: Black 4.5pt solid"><FONT><B>Ford
Motor Company Savings and Stock Investment Plan for Salaried Employees</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><FONT><B>Notes
to Financial Statements</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right; text-indent: 372pt"><FONT><B>December&nbsp;31,
2021 and 2020</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Note 2 - Summary of Significant Accounting Policies
(Continued)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> The Master Trust may seek to add additional issuers over time to diversify the Master Trust&rsquo;s exposure to such
risk, but there is no assurance the Master Trust may be able to do so. The combination of the default of an issuer and an inability
to obtain a replacement agreement could render the Master Trust unable to achieve its objective of maintaining a stable contract
value. The terms of an investment contract generally provide for settlement of payments only upon termination of the contract or
total liquidation of the covered investments. Generally, payments will be made pro-rata, based on the percentage of investments
covered by each issuer. Contract termination occurs whenever the contract value or market value of the covered investments reaches
zero or upon certain events of default.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">If the contract terminates due to issuer
default (other than a default occurring because of a decline in its rating), the issuer will generally be required to pay to the Master
Trust the excess, if any, of contract value over market value on the date of termination. If a synthetic GIC terminates due to a decline
in the ratings of the issuer, the issuer may be required to pay to the Master Trust the cost of acquiring a replacement contract (i.e.,
replacement cost) within the meaning of the contract. If the contract terminates when the market value equals zero, the issuer will pay
the excess of contract value over market value to the Master Trust to the extent necessary for the Master Trust to satisfy outstanding
contract value withdrawal requests. Contract termination also may occur by either party upon election and notice.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Contributions</B></FONT>
- Contributions to the Plan from participants and, when applicable, from the Company and participating subsidiaries (as defined in the
Plan) are recorded in the period that payroll deductions are made from Plan participants.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Payment
of Benefits</B></FONT> - Benefits are recorded when paid.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Use
of Estimates</B></FONT> - The preparation of financial statements in conformity with accounting principles generally accepted in the United
States of America requires Plan management to make estimates and assumptions that affect the reported amounts of assets and liabilities
and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of additions and
deductions during the reporting period. Actual results could differ from those estimates.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Risks
and Uncertainties </B></FONT>- Investment securities are exposed to various risks, such as interest rate, market, and credit. Due to the
level of risk associated with certain investment securities and the level of uncertainty related to changes in the value of investment
securities, it is at least reasonably possible that changes in risks in the near term could materially affect participants&rsquo; account
balances and the amounts reported in the financial statements.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>New
Accounting Pronouncements</B></FONT> &ndash; There have been no new accounting pronouncements reflected in the 2021 financial statements.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-bottom: Black 4.5pt solid; font: 16pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT><B>Ford
Motor Company Savings and Stock Investment Plan for Salaried Employees</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><FONT><B>Notes
to Financial Statements</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right; text-indent: 372pt"><FONT><B>December&nbsp;31,
2021 and 2020</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Note 2 - Summary of Significant Accounting Policies
(Continued)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Subsequent
Events</B></FONT> &ndash; The Plan has evaluated subsequent events through June&nbsp;3, 2022, the date the financial statement were available
to be issued, and there were no subsequent events requiring adjustments to or disclosure in the financial statements.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Note 3 - The Master Trust</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company established the Master Trust
pursuant to a trust agreement between the Company and State Street Bank and Trust Company, as trustee, in order to permit the commingling
of trust assets of several employee benefit plans for investment and administrative purposes. The assets of the Master Trust are held
by State Street Bank and Trust Company.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Employee benefit plans participating
in the Master Trust as of December&nbsp;31, 2021 and 2020 include the following defined contribution plans:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Ford
Motor Company Savings and Stock Investment Plan for Salaried Employees</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Ford
Motor Company Tax-Efficient Savings Plan for Hourly Employees</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">All transfers to, withdrawals from, or
other transactions regarding the Master Trust shall be conducted in such a way that the proportionate interest in the Master Trust of
each plan and the fair market value of that interest may be determined at any time.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The interest of each such plan shall
be debited or credited (as the case may be) (i)&nbsp;for the entire amount of every contribution received on behalf of such plan (including
participant contributions), every distribution, or other expense attributable solely to such plan, and every other transaction relating
only to such plan; and (ii)&nbsp;for its proportionate share of every item of collected or accrued income, gain or loss, and general expense,
and of any other transactions attributable to the Master Trust or that investment option as a whole.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 16pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; border-bottom: Black 4.5pt solid"><FONT><B>Ford
Motor Company Savings and Stock Investment Plan for Salaried Employees</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><FONT><B>Notes
to Financial Statements</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right; text-indent: 372pt"><FONT><B>December&nbsp;31,
2021 and 2020</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Note 3 - The Master Trust (Continued)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">A summary of the net assets of the Master
Trust and the Plan&rsquo;s interest in the Master Trust as of December&nbsp;31, 2021 and 2020 is as follows (in thousands):</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 91%; font-family: Arial, Helvetica, Sans-Serif; margin-left: 0.5in">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17" STYLE="font: bold 7pt Arial, Helvetica, Sans-Serif; text-align: center">Summary of Net Assets - Note 3 Master Trust</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font: bold 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 7pt Arial, Helvetica, Sans-Serif; text-align: center">2021</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 7pt Arial, Helvetica, Sans-Serif; text-align: center">2020</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font: bold 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 7pt Arial, Helvetica, Sans-Serif; text-align: center">Master Trust Balances</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 7pt Arial, Helvetica, Sans-Serif; text-align: center">Plan's Interest in Master Trust</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 7pt Arial, Helvetica, Sans-Serif; text-align: center">Master Trust Balances</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 7pt Arial, Helvetica, Sans-Serif; text-align: center">Plan's Interest in Master Trust</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 7pt Arial, Helvetica, Sans-Serif">Investments - Fair value:</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.25in; width: 44%; text-align: left">Separate Account - Common Stock (1)</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 2%; text-align: right">$</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 10%; text-align: right">650,253</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 2%; text-align: right">$</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 10%; text-align: right">508,484</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 2%; text-align: right">$</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 10%; text-align: right">580,916</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 2%; text-align: right">$</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 10%; text-align: right">454,265</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.25in">Ford Stock Fund</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">3,109,173</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">1,696,939</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">1,573,841</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">863,834</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left; padding-bottom: 2pt">Common and commingled institutional pools</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: right">18,935,665</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: right">13,539,398</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: right">16,327,928</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: right">11,737,401</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-left: 0.625in; text-align: left">Total Investments at Fair Value</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: right">22,695,091</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: right">15,744,821</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: right">18,482,685</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: right">13,055,500</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 2pt">Investments at Contract value - Interest Income Fund</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: right">2,995,599</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: right">1,946,104</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: right">2,891,230</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: right">1,902,035</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; padding-left: 0.875in; text-align: left">Total Investments</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: right">25,690,690</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: right">17,690,925</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: right">21,373,915</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: right">14,957,535</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt">Other Assets/(Liabilities) - Net (2)</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">(1,950</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">-</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">3,314</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">-</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.375in; text-align: left; padding-bottom: 2.5pt">Total Net Assets</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">25,688,740</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">17,690,925</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">21,377,229</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">14,957,535</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin-left: 0.5in; text-align: left; margin-top: 0pt; margin-bottom: 2pt">(1)&nbsp;The fund is primarily made up of common stock that is owned 100% by the Master Trust.</P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin-left: 0.5in; text-align: left; margin-top: 0pt; margin-bottom: 2pt">(2)&nbsp;Includes
accrued but unpaid fees, unsettled trades, and other receivables.&nbsp;&nbsp;In the Plan's Interest in Master Trust, these amounts are
reported within total investments and are not material to the amounts presented.</P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in">During the year ended December&nbsp;31, 2021, the Master Trust
investment gain was comprised of the following (in thousands):</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font-family: Arial, Helvetica, Sans-Serif; margin-left: 0.5in">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; width: 82%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">Net realized and unrealized gains</TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 15%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">4,769,921</TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt">Dividend and other income</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">20,202</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0.5in; text-align: left; padding-bottom: 2.5pt">Total Master Trust investment gains</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">4,790,123</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Note 4 - Fair Value Disclosures</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Accounting standards require certain
assets and liabilities be reported at fair value in the financial statements and provide a framework for establishing that fair value.
The framework for determining fair value is based on a hierarchy that prioritizes the inputs and valuation techniques used to measure
fair value.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In determining fair value, various valuation
techniques are utilized and observable inputs are prioritized. The availability of observable inputs varies from instrument to instrument
and depends on a variety of factors including the type of instrument, whether the instrument is actively traded, and other characteristics
particular to the transaction. For many financial instruments, pricing inputs are readily observable in the market, the valuation methodology
used is widely accepted by market participants, and the valuation does not require significant management discretion. For other financial
instruments, pricing inputs are less observable in the marketplace and may require management judgment.</P>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 16pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; border-bottom: Black 4.5pt solid"><B>Ford Motor Company Savings and
Stock Investment Plan for Salaried Employees</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><B>Notes to Financial Statements</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right; text-indent: 372pt"><B>December&nbsp;31, 2021 and
2020</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Note 4 - Fair Value Disclosures (Continued)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The inputs used to measure fair value
are assessed using a three-tier hierarchy based on the extent to which inputs used in measuring fair value are observable in the market.
Level 1 inputs include quoted prices in active markets for identical instruments and are the most observable.&nbsp;Level 2 inputs include
quoted prices for similar assets and inputs such as interest rates and yield curves that are observable at commonly quoted intervals.&nbsp;
Level 3 inputs are not observable in the market and include management's judgments about the assumptions market participants would use
in pricing the asset.&nbsp; In instances where inputs used to measure fair value fall into different levels of the fair value hierarchy,
fair value measurements in their entirety are categorized based on the lowest level input that is significant to the valuation. The Plan&rsquo;s
assessment of the significance of particular inputs to these fair value measurements requires judgment and considers factors specific
to each asset.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The following valuation methodologies
have been used to value the underlying investments in the Master Trust:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Separate
Accounts </B></FONT>&ndash; <B>Common Stocks </B>&ndash; These investments, except a small portion of the separate account invested in
a short-term interest fund to provide liquidity for daily activity, are valued on the basis of quoted year-end market prices. The short-term
interest fund is valued at the net asset value per share, which is based on the fair value of the underlying net assets.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Ford
Stock Fund</B></FONT> &ndash; The Ford Stock Fund is a unitized account that is comprised primarily of Ford Motor Company common stock,
except a small portion of the fund is invested in a short-term interest fund to provide liquidity for daily activity. The Ford Stock
Fund consists of assets from the following sources: employee contributions (including certain rollovers), employee loan repayments,
exchanges into the fund from other investment options, Company matching contributions (vested and unvested), earnings and dividends.
Ford Motor Company common stock is valued on the basis of quoted year-end market prices and the short-term interest fund is valued at
the net asset value per share, which is based on the fair value of the underlying net assets. Transactions within this fund are considered
related party transactions to the Plan. The Ford Stock Fund is not available as an investment option for assets attributable to FRP Contributions.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Common
and Commingled Institutional Pools - </B></FONT>The common and commingled institutional pool investments are valued at the net asset value
per share of the individual collective pools included in each respective fund, which are based on the fair value of the underlying net
assets. There were no significant unfunded commitments or redemption restrictions on these investments.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Interest
Income Fund - </B></FONT>The Interest Income Fund, which invests in fully-benefit responsive synthetic investment contracts, is stated
at contract value. Contract value is the amount participants normally receive if they were to initiate permitted transactions under the
terms of the Plan. Contract value represents deposits made to the contract, plus earnings at guaranteed crediting rates, less withdrawals
and applicable fees.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 16pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; border-bottom: Black 4.5pt solid"><B>Ford Motor Company Savings and
Stock Investment Plan for Salaried Employees</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><B>Notes to Financial Statements</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right; text-indent: 372pt"><B>December&nbsp;31, 2021 and
2020</B></P>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Note 4 - Fair Value Disclosures (Continued)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in">Disclosures concerning assets measured at fair value on a
recurring basis are as follows (in thousands):</P>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 91%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 0.5in">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17" STYLE="font: bold 7pt Arial, Helvetica, Sans-Serif; text-align: center">Assets Measured at Fair Value at December&nbsp;31, 2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 7pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 7pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid">Balance</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 7pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid">Quoted Prices in<BR>
 Active Markets for<BR>
 Identical Assets<BR>
 (Level 1)</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 7pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid">Significant<BR>
 Observable Inputs<BR>
 (Level 2)</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 7pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid">Significant<BR>

    Unobservable<BR>
 Inputs<BR>
 (Level 3)</TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left"><B>Assets</B> - Master Trust investments:</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left"><U>Investments at Fair Value:</U></TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.25in; width: 44%; text-align: left">Separate Account - Common Stock (1)</TD><TD STYLE="width: 1%; font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 2%; text-align: right">$</TD><TD STYLE="width: 10%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">643,728</TD><TD STYLE="width: 1%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; width: 2%; text-align: right">$</TD><TD STYLE="width: 10%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">643,728</TD><TD STYLE="width: 1%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 2%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">-</TD><TD STYLE="width: 1%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 2%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">-</TD><TD STYLE="width: 1%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left; padding-bottom: 1pt">Ford stock fund - Ford common stock</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">3,079,548</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">3,079,548</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">-</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">-</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.5in; text-align: left; padding-bottom: 2.5pt">Total Investments at Fair Value</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">3,723,276</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">3,723,276</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">-</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">-</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left"><U>Investments Measured at Net Asset Value:</U></TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 3pt; font: 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left">Common and commingled Institutional pools</TD><TD STYLE="padding-top: 3pt; font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-top: 3pt; text-align: right">&nbsp;</TD><TD STYLE="padding-top: 3pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">18,935,665</TD><TD STYLE="padding-top: 3pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left">Separate Account - Common Stock (2)</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">6,525</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left; padding-bottom: 1pt">Ford stock fund - Short-term Interest Fund (2)</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">29,625</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 3pt; font: bold 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.5in; text-align: left; padding-bottom: 1pt">Total Investments at NAV</TD><TD STYLE="padding-top: 3pt; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 3pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="padding-top: 3pt; border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">18,971,815</TD><TD STYLE="border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 1pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-top: 3pt; padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-top: 3pt; padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-top: 3pt; padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.5in; text-align: left; padding-bottom: 2.5pt">Total Master Trust Investments at Fair Value</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">22,695,091</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 7pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 91%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 0.5in">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17" STYLE="font: bold 7pt Arial, Helvetica, Sans-Serif; text-align: center">Assets Measured at Fair Value at December&nbsp;31, 2020</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 7pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 7pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid">Balance</TD><TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt; font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 7pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid">Quoted Prices in<BR>
 Active Markets for<BR>
 Identical Assets<BR>
 (Level 1)</TD><TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt; font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 7pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid">Significant<BR>
 Observable Inputs <BR>
(Level 2)</TD><TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt; font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 7pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid">Significant <BR>
Unobservable<BR>
 Inputs<BR>
(Level 3)</TD><TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-bottom: 1pt; font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left"><B>Assets</B> - Master Trust investments:</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-decoration: underline; text-align: left">Investments at Fair Value:</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.25in; width: 44%; text-align: left">Separate Account - Common Stock (1)</TD><TD STYLE="width: 1%; font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 2%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">576,782</TD><TD STYLE="width: 1%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 2%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">576,782</TD><TD STYLE="width: 1%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 2%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">-</TD><TD STYLE="width: 1%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 2%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">-</TD><TD STYLE="width: 1%; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left; padding-bottom: 1pt">Ford stock fund - Ford common stock</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">1,564,037</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">1,564,037</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">-</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">-</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.5in; text-align: left; padding-bottom: 2.5pt">Total Investments at Fair Value</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">2,140,819</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">2,140,819</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">-</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">-</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-decoration: underline; text-align: left">Investments Measured at Net Asset Value:</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 3pt; font: 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left">Common and commingled Institutional pools</TD><TD STYLE="padding-top: 3pt; font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">16,327,928</TD><TD STYLE="padding-top: 3pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left">Separate Account - Common Stock (2)</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">4,134</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left; padding-bottom: 1pt">Ford stock fund - Short-term Interest Fund (2)</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">9,804</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 3pt; font: bold 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.5in; text-align: left; padding-bottom: 1pt">Total Investments at NAV</TD><TD STYLE="padding-top: 3pt; font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; border-bottom: Black 1pt solid; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">16,341,866</TD><TD STYLE="border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 1pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-top: 3pt; padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-top: 3pt; padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="padding-top: 3pt; font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-top: 3pt; padding-bottom: 1pt; font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 7pt">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 7pt Arial, Helvetica, Sans-Serif; padding-left: 0.5in; text-align: left; padding-bottom: 2.5pt">Total Master Trust Investments at Fair Value</TD><TD STYLE="font: 7pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 7pt Arial, Helvetica, Sans-Serif; text-align: right">18,482,685</TD><TD STYLE="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; font: 7pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 7pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 7pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: left; margin-left: 0.5in; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">(1)&nbsp;The fund is made up of common stock that is owned 100% by the Master Trust.</FONT></P>

<P STYLE="margin-left: 0.5in; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">(2)&nbsp;Includes short-term interest funds that invest primarily in fixed-income securities, including but not limited to, bonds, notes or other investments such as government securities, commercial paper, certificates of deposit, master notes or variable amount notes, with the objective of providing current income consistent with the preservation of capital and the maintenance of liquidity.</FONT></P>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 16pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; border-bottom: Black 4.5pt solid"><B>Ford Motor Company Savings and
Stock Investment Plan for Salaried Employees</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><B>Notes to Financial Statements</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right; text-indent: 372pt"><B>December&nbsp;31, 2021 and
2020</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Note 4 - Fair Value Disclosures (Continued)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Plan&rsquo;s policy to recognize
transfers between levels of the fair value hierarchy is as of the actual date of the event of change in circumstances that caused the
transfer. There were no significant transfers between levels of the fair value hierarchy during 2020 or 2021.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Note 5 - Tax Status</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Internal Revenue Service (&ldquo;IRS&rdquo;)
has determined and informed the Company by letter dated June&nbsp;29, 2017, that the Plan is designed in accordance with applicable sections
of the Code. The Plan has since been amended and restated through December&nbsp;31, 2021. The Company believes that the Plan is currently
designed and being operated in compliance with the Code. Therefore, no provision for income taxes has been included in the Plan&rsquo;s
financial statements.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in">The plan administrator believes it is no longer subject to
tax examinations for years prior to 2017.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Note 6 - Administration of Plan Assets</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Master Trust assets are held by the
trustee of the Plan, State Street Bank and Trust Company. The assets of the Interest Income Fund (the &ldquo;Fund&rdquo;) are held by
the Fund&rsquo;s custodian, The Northern Trust Company.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Certain administrative functions are
performed by officers or employees of the Company or its subsidiaries. No such officer or employee receives compensation from the Plan,
nor does the Company allocate any costs to the Plan.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>Note 7 - Plan Termination</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company, by action of the board of
directors, may terminate the Plan at any time.&nbsp; Termination of the Plan would not affect the rights of a participant as to the continuance
of investment, distribution or withdrawal of&nbsp;their account balance.&nbsp; Upon termination of the Plan, participants would become
fully vested.&nbsp; In the event of termination, all participant notes receivable would become due immediately upon such termination.
There are currently no plans to terminate the Plan.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>Note 8 - Reconciliation to Form&nbsp;5500</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The net assets on the financial statements
differ from the net assets on the Form&nbsp;5500 due to the synthetic GICs held in the Master Trust being recorded at contract value on
the financial statements and at fair value on Form&nbsp;5500. The net assets on the financial statements compared to those on Form&nbsp;5500
at December&nbsp;31, 2021 and 2020 were $17.5 million lower and $68.8 million lower, respectively. Additionally, the increase in net assets
on Form&nbsp;5500 for the year ended December&nbsp;31, 2021 is lower than the financial statements by $51.3 million.</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 16pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; border-bottom: Black 4.5pt solid"><FONT><B>Ford
Motor Company Savings and Stock Investment Plan for Salaried Employees</B></FONT></P>

<P STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B><A NAME="Schedule_of_Assets"></A>Schedule of Assets (Held at End of Year)</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><B>Form&nbsp;5500, Schedule H,&nbsp;Item 4i</B></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><B>EIN 38-0549190, Plan 010</B></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><B>December&nbsp;31, 2021</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center">(a)</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center">(b)<BR> Identity of Issuer, Lessor,<BR> Borrower, or Similar Party</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center">(c)&nbsp;<BR> Description of Investment,&nbsp;Including Maturity Date, Rate of<BR> Interest, Collateral, Par, or Maturity Value</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center">(d)&nbsp;<BR> Cost</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center">(e)&nbsp;<BR> Current Value</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">*</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;&nbsp;Participant Loans</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">Participant notes receivable bearing interest at rates</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 26%; font-size: 10pt">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in; width: 51%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">ranging from 3.25 percent to 5.5 percent</TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 5%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center">-</TD><TD STYLE="width: 1%; font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Arial, Helvetica, Sans-Serif; width: 1%; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Arial, Helvetica, Sans-Serif; width: 10%; text-align: right">71,831,386</TD><TD STYLE="width: 1%; font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">*</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">Denotes party-in-interest to the Plan</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

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1</FONT></P>

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<TYPE>EX-23
<SEQUENCE>2
<FILENAME>tm2216265d2_ex23.htm
<DESCRIPTION>EXHIBIT 23
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">Exhibit&nbsp;23</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><U>Consent of Independent Registered Public Accounting
Firm</U></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Ford Motor Company Savings and Stock Investment
Plan for Salaried Employees&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Dearborn, Michigan</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">We hereby consent to the incorporation by
reference in the Registration Statement on Form&nbsp; S-8 (Nos. 333-138819, 333-153815, and 333-156630) of Ford Motor Company of our
report dated June&nbsp;3, 2022, relating to the financial statements and supplemental schedule of Ford Motor Company Savings and
Stock Investment Plan for Salaried Employees which appear in this Form&nbsp;11-K for the year ended December&nbsp;31, 2021.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">/s/ BDO USA, LLP</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>BDO USA, LLP</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Troy, Michigan</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">June&nbsp;3, 2022</P>

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