This in an OEM quality reproduction exhaust pipe assembly for the Z50 K0-K2 models. 

Key features:

• Includes the exhaust pipe, upper guard, lower guard, and the exhaust guard screw set.
• The exhaust pipe muffler end isn’t crimped so provides better flow.
• The lower guard is the K0-K1 type (K2 model had slots).
• These parts are no longer available from Honda and these reproductions are a very nice affordable alternative.