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F C A T H I R D Q U AR T E R 2 0 2 0 R E S U L T S | O C T O B E R 2 8 , 2 0 2 0

Q3

October 28, 2020 Q3 2020 RESULTS | 2

This document, and in particular the section entitled “FY 2020 Guidance – Reinstated”, contains

forward-looking statements. In particular, these forward-looking statements include statements

regarding future financial performance and the Company’s expectations as to the

achievement of certain targeted metrics, including revenues, industrial free cash flows, vehicle

shipments, capital investments, research and development costs and other expenses at any

future date or for any future period are forward-looking statements. These statements may

include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”,

“anticipate”, “believe”, “remain”, “on track”, “design”, “target”, “objective”, “goal”,

“forecast”, “projection”, “outlook”, “prospects”, “plan”, or similar terms. Forward-looking

statements are not guarantees of future performance. Rather, they are based on the Group’s

current state of knowledge, future expectations and projections about future events and are

by their nature, subject to inherent risks and uncertainties. They relate to events and depend on

circumstances that may or may not occur or exist in the future and, as such, undue reliance

should not be placed on them.

Actual results may differ materially from those expressed in forward-looking statements as a

result of a variety of factors, including: the extent and duration of the COVID-19 pandemic’s

impact on supply chains, the Group’s production and distribution channels, demand in the

Group’s end markets, and the broader impact on financial markets and the global economy;

the Group’s ability to launch products successfully and to maintain vehicle shipment volumes;

changes in the global financial markets, general economic environment and changes in

demand for automotive products, which is subject to cyclicality; changes in local economic

and political conditions, changes in trade policy and the imposition of global and regional

tariffs or tariffs targeted to the automotive industry, the enactment of tax reforms or other

changes in tax laws and regulations; the Group’s ability to expand certain of the Group’s

brands globally; the Group’s ability to offer innovative, attractive products; the Group’s ability

to develop, manufacture and sell vehicles with advanced features including enhanced

electrification, connectivity and automated-driving characteristics; various types of claims,

lawsuits, governmental investigations and other contingencies affecting the Group, including

product liability and warranty claims and environmental claims, investigations and lawsuits;

material operating expenditures in relation to compliance with environmental, health and

safety regulations; the intense level of competition in the automotive industry, which may

increase due to consolidation; the Group’s ability to complete and realize expected synergies

following completion of the Group’s proposed merger with Peugeot S.A., including the

expected cumulative implementation costs; exposure to shortfalls in the funding of the Group’s

defined benefit pension plans; the Group’s ability to provide or arrange for access to adequate

financing for the Group’s dealers and retail customers and associated risks related to the

establishment and operations of financial services companies, including capital required to be

deployed to financial services; the Group’s ability to access funding to execute the Group’s

business plan and improve the Group’s business, financial condition and results of operations; a

significant malfunction, disruption or security breach compromising the Group’s information

technology systems or the electronic control systems contained in the Group’s vehicles; the

Group’s ability to realize anticipated benefits from joint venture arrangements in certain

emerging markets; the Group’s ability to successfully implement and execute strategic

initiatives and transactions, including the Group’s plans to separate certain businesses;

disruptions arising from political, social and economic instability; risks associated with the

Group’s relationships with employees, dealers and suppliers; increases in costs, disruptions of

supply or shortages of raw materials; developments in labor and industrial relations, including

any work stoppages, and developments in applicable labor laws; exchange rate fluctuations,

interest rate changes, credit risk and other market risks; political and civil unrest; earthquakes or

other disasters and other risks and uncertainties.

Any forward-looking statements contained in this document speak only as of the date of this

document and the Company disclaims any obligation to update or revise publicly forward-

looking statements. Further information concerning the Group and its businesses, including

factors that could materially affect the Company’s financial results, is included in the

Company’s reports and filings with the U.S. Securities and Exchange Commission, the AFM and

CONSOB.

S A F E H A R B O R S T A T E M E N T


B U S I N E S S H I G H L I G H T SR ETURN TO S TRON G O PERAT I NG R ES UL TS AN D C O MMERCI AL PER F ORMAN C E

RECORD ADJUSTED EBIT AND MARGIN OF €2.3B AND 8.8%,

respectively, despite continued

market impact of COVID-19; all

plants fully operational and near

pre-pandemic production levels

MAINTAINED MARKET LEADERSHIP

IN LATIN AMERICA AND BRAZIL with market share of 18.0% and

23.8%, up 430 bps and 540 bps

y-o-y, respectively

RECORD NORTH AMERICA ADJUSTED EBIT AND MARGIN of

€2.5B and 13.8%, respectively,

despite planned downtime at

Warren Truck (14 weeks) and

Toluca plants (4 weeks)

U.S. RETAIL SHARE UP 40 bps y-o-y

to 12.3%; EU 27 + EFTA + UK

PASSENGER CAR AND LCV SHARE UP 30 bps and 130 bps to 5.7%

and 12.0%, respectively

STRONG INDUSTRIAL FREE CASH FLOWS at €6.7B due to strong

profitability and rewind of

working capital; continued

strong investment in future

products with capex at €2.2B

October 28, 2020

AVAILABLE LIQUIDITY OF €27.1B at Sep ’20, up €9.6B from Jun ’20;

excludes €1.1B undrawn portion

of the €6.3B Intesa Sanpaolo

credit facility

COMBINATION AGREEMENT WITH PSA AMENDED, preserving value

to each company’s shareholders,

while strengthening balance

sheet of Stellantis

LAUNCHES OF THREE ALL-NEW

JEEP VEHICLES IN 2021 ON TRACK, successful retooling of

Warren Truck plant for all-new

Grand Wagoneer

Q3 2020 RESULTS |October 28, 2020 4

P R O D U C T I N T R O D U C T I O N SNEW PRODUCTS SHOWCASE BRAND DI VERS I TY , PORTFOL IO REACH, ELECTR IF I ED FUTURE AND PROFI T POTENT IAL

• Expands Ram’s light-duty pickup lineup

and sets the benchmark for extreme

performance pickup trucks

• Combines all-new design, features,

technology and authentic premium

materials with class-leading quality

and durability

• World’s quickest, fastest and most

powerful pickup truck:

o 6.2-liter supercharged HEMI V-8

o 0-60 mph in 4.5 seconds

o Top speed of 118 mph

o 702 horsepower and 650 lb.-ft. of torque

• 8 inches wider than Ram 1500 lineup,

with composite flares to complement

the 6-inch increase in track width

• Start of production in Q4 2020

• Provides new levels of efficiency,

environmental responsibility,

performance and capability, on- and

off-road

• 2.0-liter 4-cylinder engine:

o Two electric motors with 400-volt, 17 kWh

battery pack

o 375 horsepower delivering up to 25 miles

of pure electric mode

o Estimated 50 MPGe

• True to Wrangler standards, equipped

with Trail Rated running gear, as well as

solid front and rear axles

• Available in Europe, China and U.S. by

early 2021

• Modern expression of the original,

ultimate, premium SUV rooted in

Jeep brand heritage

• Stunning exterior design with leading-

edge premium features and

technology

• Spacious, upscale, ultra-comfortable

interior with sustainable materials

throughout, first-ever front passenger

screen in an SUV

• Electrified powertrain, delivering

fun-to-drive, on- and off-road

performance

• Class-leading capability, with three

available 4x4 systems and unmatched

towing capacity

• Start of production in Q2 2021

• All-new mid-rear engine super sports car

marking brand’s New Era

• Combines performance, sportiness and

luxury with unique Maserati style in both

coupe and cabrio versions

• Exploits use of carbon fiber to achieve

exceptionally light curb weight of under

1,500 kg and best-in-class weight/power

ratio of 2.33 kg/hp

• All-new Nettuno 3.0-liter twin-turbo 90o

V-6 engine incorporating F1 derived

technologies:

o 630 hp and 730 Nm of torque

o 0-100 km/h <2.9 seconds

o Top speed >325 km/h

• Coupe production begins late Q4 2020;

cabrio ICE and BEV, with state-of-the-art

800V technology, available in 2022


K E Y C O M M E R C I A L M E T R I C S

573

28

318

147

641

33

283

150

COMBINED SALES

MARKET SHARE (1) 12.1% 12.1%

Q3 INDUSTRY (1)

(2020 vs. 2019) - 10%

0.3% 0.4%

4%

6.2% 5.9%

- 5%

18.0% 13.7%

- 26%

L O WER I NDUS TRY VO L UMES WI TH S H AR E GR O WTH I N U .S . R ETAI L , EUR O PE AN D L ATAM

NORTH AMERICA LATIN AMERICAASIA PACIFICEUROPE, MIDDLE EAST & AFRICA

(1) Industry and market share data reflect the following:

• Asia Pacific reflects aggregate for major markets where Group competes (China, Australia, Japan, South Korea and India); market share is based on retail registrations, except in India where market share is based on wholesale volumes, as well as management’s estimates of industry sales data, which use certain data provided by third party sources

• Europe, Middle East & Africa reflects aggregate for EU 27 + EFTA + UK markets only and is derived from a combination of passenger car information from European Automobile Manufacturers Association (ACEA) Registration Databases and internal information on LCVs

000 units

Q3 2019

Q3 2020


(1) Combined shipments include shipments by the Group's consolidated subsidiaries and unconsolidated JVs, whereas consolidated shipments only include shipments by

the Group’s consolidated subsidiaries

(2) Excludes €1.1B and €4.5B undrawn portion of new €6.3B Intesa Sanpaolo credit facility at Sep 30 2020 and Jun 30 2020, respect ively

* Refer to Appendix for definitions of supplemental financial measures and reconciliations to applicable IFRS metrics

RESULTS FROM CONTINUING OPERATIONS Q3 2020 Q3 2019

COMBINED SHIPMENTS (1)(000 units) 1,026 1,059 - 3%

CONSOLIDATED SHIPMENTS (1)(000 units) 967 1,031 - 6%

NET REVENUES (€ billion) 25.8 27.3 - 6%

ADJUSTED EBIT* 2,276 1,959 + 16%

ADJUSTED EBIT MARGIN* 8.8% 7.2% + 160 bps

ADJUSTED NET PROFIT* 1,530 1,262 + 21%

ADJUSTED DILUTED EARNINGS PER SHARE (EPS)*(€) 0.97 0.81 + 20%

INDUSTRIAL FREE CASH FLOWS* 6,740 178 n.m.

AVAILABLE LIQUIDITY (2) (€ billion)27.1

(at Sep 30 2020)

17.5(at Jun 30 2020)

+ 55%

Consolidated shipments down

6%, with strong retail mix as

dealer deliveries prioritized;

lower dealer inventories in each

region at Sep ‘20 vs. Jun ‘20

Record Adjusted EBIT and

margin of €2.3B and 8.8%,

respectively, with all segments

improving sequentially

Record North America Adjusted

EBIT and margin of €2.5B and

13.8%, respectively, despite

planned plant downtime

Industrial free cash flows of

€6.7B, driven by strong operating

results and working capital

rewind; capex flat y-o-y at €2.2B

F I N A N C I A L H I G H L I G H T SRECORD RESULTS DRI VEN BY EXCEPT IONAL NORTH AMERI CA PERFORMANCE

€ million, except as otherwise stated


Q 3 2 0 2 0 A D J U S T E D E B I T * WA L K

* Refer to Appendix for definitions of supplemental financial

measures and reconciliations to applicable IFRS metrics

Q3 2019 Volume & Mix Net Price Industrial Costs SG&A Other Q3 2020

RECORD RESULTS WI TH MI X I MPROVEMENT, POSI T IVE PR ICING AND COST CONTAINMENT ACTI ONS OUTWEIGHING MARKET DRIVEN VOLUME DECL INE AND I NCREASED COSTS FOR ELECTRIF ICATION

1,959 2,276

€ million

% = Adjusted EBIT margin 7.2%

8.8%


Adjusted

Industrial

EBITDA

CapexWorking

Capital

Changes in

Provisions

& Other

Financial

Charges

& Taxes (1)

Industrial

Free Cash

Flows

(1) Net of IAS 19

* Refer to Appendix for definitions of supplemental financial measures and reconciliations to applicable IFRS metrics

Q 3 2 0 2 0 I N D U S T R I A L F R E E C A S H F L O WS *

S TR ONG C AS H GEN ERAT I ON DR I VEN B Y R EWI ND O F WO R KI NG C AP I TAL AN D S TR ONG PR O F I TAB I L I TY

∆ VS. Q3 2019 221 (36) 6,011 357 9 6,562

€ million

6,740


2,544

(32)

(125)

46

(70)

2,019

(10)(55)

152

(51)

ALL REGI ONS I MPROVED SEQUENTIALLY WI TH MARKET RECOVERY AND CONTINUED COST SAVI NGS MEASURES

13.8%

10.6%

(2.7)%(1.2)% (17.8)% (12.9)%

(5.6)% (1.5)% 3.0%

6.9%

Q3 2019

Q3 2020

€ million

% = Adjusted EBIT margin

Q 3 2 0 2 0 A D J U S T E D E B I T

NORTH AMERICA ASIA PACIFIC EUROPE, MIDDLE EAST & AFRICA

LATIN AMERICA MASERATI


N O R T H A M E R I C ARECORD RESULTS DRI VEN BY STRONG RETAI L PERFORMANCE AND CONTINUED FOCUS ON I MPROVING MARGI N

ADJUSTED EBIT WALK € million


• Shipments down 8%, primarily due to lower Ram 1500

Classic shipments due to planned downtime for

retooling to produce all-new Grand Wagoneer, as

well as discontinuation of Dodge Grand Caravan

• Net revenues down 3%, with favorable mix and

positive net pricing largely offsetting lower volumes

and negative foreign exchange translation effects

• Record Adjusted EBIT, up 26%, primarily due to

favorable model and channel mix, positive net pricing

and lower advertising costs, partially offset by lower

volumes and negative foreign exchange translation

effects

2,019 2,062

54839

2,544

10.6% 10.0%

3.8%

0.5%

13.8%

Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20

ADJUSTED EBIT & MARGIN(€ million)

600 649469

225

554

Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20

SHIPMENTS(000 units)

19.1 20.6

14.5

8.2

18.5

Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20

NET REVENUES(€ billion)

Q3 ‘19 Volume & Mix

Net Price

Industrial Costs

SG&A Other Q3 ‘20

8.9%

2,019

2,544

10.6%

13.8%


A S I A P A C I F I CR EGI ON PR O FI TAB L E EX C L UDI NG C H I NA JV DES P I TE C O N TI N UED I MPAC T O F C O VI D -19 O N I MPORTS

• Consolidated shipments down 12%, mainly due to lower Japan and China volumes

• Combined shipments down 29%, largely due to lower China JV volumes

• Net revenues down 17%, primarily due to lower volumes and negative foreign exchange effects

• Adjusted EBIT loss increased primarily due to lower Net revenues and lower results from China JV, partially offset by cost containment actions

JV

Consolidated

17 20 13 11 15

18 20

7 10 10

Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20

COMBINED SHIPMENTS(000 units)

21

0.70.8

0.5 0.4

0.6

Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20


(10) (5)

(59) (59)

(32)

(1.5)% (0.6)%

(12.7)%(13.8)%

(5.6)%

Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20


3540

20

(10)

(32)



(5.6)%

Volume & Mix

Industrial Costs

SG&A Other Q3 ‘20Net Price

(1.5)%

Q3 ‘19

25


E U R O P E , M I D D L E E A S T & A F R I C A

• Combined shipments up 10%, primarily due to higher

volumes from Turkey JV

• Consolidated shipments down 5%, primarily due to

lower industry volumes

• Net revenues substantially flat, primarily due to

lower volumes, partially offset by positive net pricing

related to newly-launched electrified vehicles and

favorable channel mix

• Adjusted EBIT down, primarily due to lower volumes

and increased product electrification costs, partially

offset by positive net pricing, cost containment

actions and higher JV results



Volume & Mix

Industrial Costs

SG&A OtherNet Price

Q3 ‘19

R ES UL TS I MPROVED S EQ UEN TI AL L Y DES P I TE H I GHER PR O DUC T R EL ATED EL EC TR I F I C AT I ON C O S TS

4.75.3

3.7

2.2

4.6

Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20


260 280 205107

248

10 3215

22

49

Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20


(55)

46

(270)

(589)

(125)

(1.2)%

0.9% (7.2)%

(26.4)%

(2.7)%

Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20


129

270

JV

Consolidated

312220

Q3 ‘20

297

(55)

(125)

(1.2)%

(2.7)%


L A T I N A M E R I C AR ETURNED TO PR O F I TAB I L I TY DES P I TE C O N T I NUED MAR KET DO WN TURN AN D N EG AT I VE F X I MPAC T


% = Adjusted EBIT margin • Shipments down 3%, due to continued market

downturn, partially offset by strong demand for

all-new Fiat Strada, as well as Cronos and Fiorino

• Net revenues down 30%, primarily due to

unfavorable model mix, non-repeat of prior year

one-off recognition of Brazilian indirect tax credits

and negative foreign exchange translation effects

from weakening of Brazilian real

• Adjusted EBIT down 70%, primarily due to lower Net

revenues, product cost inflation and negative

foreign exchange transaction effects

152 134

(27)(96)

46 6.9% 5.9%(2.0)%

(20.1)%

3.0%

Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20


150 159

106

47

145

Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20


2.2 2.3

1.3

0.5

1.5

Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20


152

46

6.9%

3.0%

Q3 ‘19 Volume & Mix

Industrial Costs

SG&A Other Q3 ‘20Net Price


S ET N EW C O UR S E F O R B R AN D PR O VI DI NG F O UN DAT I ON F O R R ETURN TO PR O FI TAB I L I TY I N 2 0 2 1

Shipments up 7%, primarily due to North America and China

Net revenues flat, with higher volumes offset by higher

incentives, mainly in China, and negative foreign

exchange translation effects

Adjusted EBIT loss increased primarily due to higher

marketing costs to support new brand strategy, new product

launch costs and negative net pricing, partially offset by lower depreciation and amortization

€ million, except as otherwise stated Q3 2020 Q3 2019

SALES (000 units) 5.0 6.0 - 17%

SHIPMENTS (000 units) 4.9 4.6 + 7 %

NET REVENUES 394 394 flat

ADJUSTED EBIT (70) (51) - 37%

ADJUSTED EBIT MARGIN (17.8)% (12.9)% - 490 bps


F Y 2 0 2 0 I N D U S T R Y O U T L O O K A N D G U I D A N C E

(1) APAC industry reflects aggregate for major markets where Group competes (China, Australia, Japan, South Korea and India)

Source: IHS Global Insight, Wards, China Passenger Car Association and Group estimates

NORTHAMERICA

REGION 3.0 - 29% y-o-y

BRAZIL 1.9 - 29% y-o-y

PASSENGER CARS AND LCVs

LATINAMERICA

REGION 28.4 - 9% y-o-y

CHINA 19.9 - 7% y-o-y

PASSENGER CARS ONLY

(1)ASIA

PACIFIC(1)

REGION 18.0 - 22% y-o-y

EU 27+EFTA+UK 13.7 - 24% y-o-y

PASSENGER CARS AND LCVs

EUROPEMIDDLE EAST

AFRICA

million units

FY 2020 INDUSTRY OUTLOOK

TOTAL VEHICLE SALES INCLUDING

MEDIUM/HEAVY TRUCKS

Outlook for region increased

from 16.4, U.S. increased from 14.0

Outlook for region increased

from 2.8, Brazil increased from 1.8

Outlook for region increased from

27.1, China increased from 19.1

REGION 17.4 - 17% y-o-y

U.S. 14.8 - 15% y-o-y

Outlook for region increased from 17.2,

EU 27+EFTA+UK increased from 13.4

ADJUSTED EBIT €3.0 – €3.5B

INDUSTRIAL FREE CASH FLOWS €(1.0) – €0.0B

Assumes no further significant disruptions from COVID-19

FY 2020 GUIDANCE * – REINSTATED

* Refer to Appendix for definitions of supplemental financial measures. Guidance is not provided on the most directly comparable IFRS financial statement line item for Adjusted EBIT as the income or expense excluded from this non-GAAP financial measure in accordance with our policy are, by definition, not predictable and uncertain.


M A S E R A T I B R A N D E VE N TES TAB L I S HED TH E C O UR SE F O R B R AN D’S N EW ER A AN D PR EMI ERE O F AL L - N EW MC 2 0 S UPER S PO R TS C AR

• Brand returns to profitability in 2021

• 2020 – 2025 annual capex spending of ~€750M

• Adjusted EBIT margin of ~15% by 2023

• Estimated annual sales of 75k – 100k units by 2025

• Adjusted EBIT reaching €0.8B – €1.1B, with average

revenue per unit of ~€75,000

• Strong cash generation potential, with Adjusted EBITDA

estimated at double the run-rate of capex spending

NEW ERA FOR BRAND POWERTRAINS AND TECHNOLOGY

PORTFOLIO EXPANSION EXPECTATIONS

MODERN

Sep 9 – 10 2020

Modena, Italy

Autonomous Driving and

Connectivity


M E R G E R U P D A T EAMENDMENT PRESERVES VALUE AND BALANCE WHI LE I NCREASI NG L I QUI DI TY FOR STELLANTI S

Original Combination Agreement Amended Combination Agreement

TermsValue to FCA Shareholders

TermsValue to FCA Shareholders

Special Dividend to be Paid to FCA Shareholders €5.5B €5.5B €2.9B €2.9B

Distribution of PSA’s Current 46% Stake in Faurecia S.E.To PSA

shareholders prior to closing

n.a.

Distribution to all Stellantis shareholders promptly after closing (1)

• Proceeds from PSA’s disposal of up to 7% of Faurecia’s outstanding shares prior to merger

• Remaining portion of PSA’s current 46% stake

~€1.3B (2)

Additional Cash in Stellantis on Day 1 n.a. n.a. €2.6B €1.3B

Total €5.5B ~€5.5B

Also under the amended Combination Agreement, the Boards of both FCA and PSA will consider a potential distribution of €0.5B

to shareholders of each company prior to closing, or alternatively, a distribution of €1B to all Stellantis shareholders after closing

• Annual run-rate synergies at steady state increased to >€5B from ~€3.7B previously

• Total estimated one-time implementation costs up to €4B from ~€2.8B previously

• Estimated synergies still expected to be net cash flow positive from Year 1

• Antitrust approval process proceeding as plannedo Clearance received in 14 of 22 jurisdictions

o European Commission evaluating commitments offered to address questions raised; constructive discussions continuing

• Stellantis Board of Directors nominees announced, subject to shareholder approval

• Transaction completion expected by the end of Q1 2021, subject to customary closing conditions

(1) Subject to approval by Stellantis Board and shareholders

(2) Based on Faurecia S.E. capitalization of €5.9B at market close on Sep 14 2020. Capitalization subject to change with any change in Faurecia S.E. share price and/or shares outstanding.


APPENDIX


S U P P L E M E N T A L F I N A N C I A L M E A S U R E S

FCA monitors its operations through the use of various supplemental financial measures. These and similar measures are widely used in the industry in which the

Group operates, however, these financial measures may not be comparable to other similarly titled measures of other companies and are not intended to be

substitutes for measures of financial performance as prepared in accordance with IFRS as issued by the IASB, as well as IFRS adopted by the European Union.

Group management believes these supplemental financial measures provide comparable measures of its financial performance which then facilitate

management’s ability to identify operational trends, as well as make decisions regarding future spending, resource allocations and other operational decisions.

FCA’s supplemental financial measures are defined as follows:

Earnings before interest, taxes, depreciation and amortization (“EBITDA”) is

computed starting with Net profit/(loss) and adding back Net financial

expenses, Tax expense/(benefit) and depreciation and amortization expense

Adjusted earnings before interest and taxes (“Adjusted EBIT”) excludes

certain adjustments from Net profit/(loss) from continuing operations

including: gains/(losses) on the disposal of investments, restructuring,

impairments, asset write-offs and unusual income/(expenses) that are

considered rare or discrete events that are infrequent in nature, and also

excludes Net financial expenses and Tax expense/(benefit)

Adjusted net profit/(loss) is calculated as Net profit/(loss) from continuing

operations excluding post-tax impacts of the same items excluded from

Adjusted EBIT, as well as financial income/(expenses) and tax

income/(expenses) considered rare or discrete events that are infrequent in

nature

Adjusted diluted EPS is calculated by adjusting Diluted earnings/(loss) per

share from continuing operations for the impact per share of the same items

excluded from Adjusted net profit/(loss)

Industrial free cash flows is calculated as Cash flows from operating activities

less: cash flows from operating activities from discontinued operations; cash

flows from operating activities related to financial services, net of

eliminations; investments in property, plant and equipment and intangible

assets for industrial activities; adjusted for net intercompany payments

between continuing operations and discontinued operations; and adjusted

for discretionary pension contributions in excess of those required by the

pension plans, net of tax. The timing of Industrial free cash flows may be

affected by the timing of monetization of receivables and the payment of

accounts payable, as well as changes in other components of working

capital, which can vary from period to period due to, among other things,

cash management initiatives and other factors, some of which may be

outside of the Group’s control.


K E Y C O M M E R C I A L M E T R I C S

1,487

75

754

324

1,886

116

1,009

427

COMBINED SALES

MARKET SHARE (1) 12.0% 12.1%

YTD INDUSTRY (1)

(2020 vs. 2019) - 20%

0.4% 0.5%

- 14%

6.2% 6.6%

- 29%

16.0% 13.7%

- 35%

NORTH AMERICA LATIN AMERICAASIA PACIFICEUROPE, MIDDLE EAST & AFRICA

YTD 2019

YTD 2020

000 units

(1) Industry and market share data reflect the following:

• Asia Pacific reflects aggregate for major markets where Group competes (China, Australia, Japan, South Korea and India); market share is based on retail registrations, except in India where market share is based on wholesale volumes, as well as management’s estimates of industry sales data, which use certain data provided by third party sources

• Europe, Middle East & Africa reflects aggregate for EU 27 + EFTA + UK markets only and is derived from a combination of passenger car information from European Automobile Manufacturers Association (ACEA) Registration Databases and internal information on LCVs


K E Y P E R F O R M A N C E M E T R I C S

(1) Combined shipments include shipments by the Group's consolidated subsidiaries and unconsolidated JVs, whereas consolidated shipments only include shipments by the Group's consolidated subsidiaries

* Refer to definitions of supplemental financial measures and reconciliations to applicable IFRS metrics included herein

€ million, except as otherwise stated

NINE MONTHS ENDED SEP 30

RESULTS FROM CONTINUING OPERATIONS

THREE MONTHS ENDED SEP 30

2020 2019 2020 2019

2,268 3,253 COMBINED SHIPMENTS (1) (000 units) 1,026 1,059

2,155 3,159 CONSOLIDATED SHIPMENTS (1) (000 units) 967 1,031

58,088 78,544 NET REVENUES 25,814 27,322

1,400 4,553 ADJUSTED EBIT* 2,276 1,959

118 159 OF WHICH RESULT FROM INVESTMENTS 45 43

2.4% 5.8% ADJUSTED EBIT MARGIN 8.8% 7.2%

745 784 NET FINANCIAL EXPENSES 295 280

(412) 2,091 PROFIT/(LOSS) BEFORE TAXES 1,640 261

1,125 969 TAX EXPENSE 435 440

(1,537) 1,122 NET PROFIT/(LOSS) 1,205 (179)

20 2,760 ADJUSTED NET PROFIT* 1,530 1,262

(0.98) 0.71 DILUTED EPS (€) 0.76 (0.11)

0.01 1.75 ADJUSTED DILUTED EPS* (€) 0.97 0.81

(3,232) 662 INDUSTRIAL FREE CASH FLOWS* 6,740 178


Y T D 2 0 2 0 A D J U S T E D E B I T * WA L K

YTD 2019 Volume & Mix Net Price Industrial Costs SG&A Other YTD 2020

€ million


4,553

1,400

2.4%

5.8%



Adjusted

Industrial

EBITDA

CapexWorking

Capital

Changes in

Provisions

& Other

Financial

Charges

& Taxes (1)

Industrial

Free Cash

Flows

(1) Net of IAS 19


Y T D 2 0 2 0 I N D U S T R I A L F R E E C A S H F L O WS *

∆ VS. YTD 2019 (3,366) (698) 145 (286) 311 (3,894)

€ million

(3,232)


K E Y F I N A N C I A L M E T R I C S *

7.2% 7.1%

0.3%

(7.9)%

8.8%

Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20

1,959 2,115

52

(928)

2,276

Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20

0.81 0.97

(0.30) (0.65)

0.97

Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20

178 1,451

(5,074)(4,898)

6,740

Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20

ADJUSTED EBIT € million

ADJUSTED EBIT MARGIN

ADJUSTED DILUTED EPS €

INDUSTRIAL FREE CASH FLOWS € million




4,628

3,131

N O R T H A M E R I C A

YTD ‘19 Volume & Mix

Net Price

Industrial Costs

SG&A Other YTD ‘20



8.8%

7.6%

1,248

1,752

YTD '20 YTD '19


41.252.8

YTD '20 YTD '19


39 5627

53

YTD '20 YTD '19

Consolidated

JV

1.52.0

YTD '20 YTD '19


(31)

(150)

Volume & Mix

Net Price

Industrial Costs

SG&A Other



(1.5)%

(10.3)%

A S I A P A C I F I C

YTD ‘19 YTD ‘20

66

109



E U R O P E , M I D D L E E A S T & A F R I C A

10.6

15.3

YTD '20 YTD '19


298

418

YTD '20 YTD '19


3.3

6.2

YTD '20 YTD '19


367

(77)

Volume & Mix

Net Price

Industrial Costs

SG&A Other

ADJUSTED EBIT WALK

5.9%

(2.3)%

L A T I N A M E R I C A

YTD ‘19 YTD ‘20

560919

8641

YTD '20 YTD '19

ConsolidatedJV

646960


(52)

(984)

Volume & Mix

Net Price

Industrial Costs

SG&A Other



(9.3)%

YTD ‘19 YTD ‘20

(0.3)%

€ million



€ million, except as otherwise stated YTD 2020 YTD 2019

SALES (000 units) 11.9 19.5 - 39%

SHIPMENTS (000 units) 10.0 14.3 - 30%

NET REVENUES 833 1,208 - 31%

ADJUSTED EBIT (244) (159) - 53%

ADJUSTED EBIT MARGIN (29.3)% (13.2)% n.m.


RE C ON C I L I AT I ON OF N E T P ROF I T / (LO S S ) TO ADJUSTE D E B I T

Q3 2020 Adjusted EBIT excludes adjustments primarily related to:

(1) Provision recognized for estimated probable loss to settle matters under investigation, primarily associated with U.S. diesel emissions

(2) Impairment expense and supplier obligations in EMEA, primarily as a result of change in strategy for the future B-segment platform

NINE MONTHS ENDED


THREE MONTHS ENDED

SEP 30 2020

SEP 302019

SEP 30 2020

JUN 30 2020

MAR 31 2020

DEC 31 2019

SEP 302019

(1,537) 1,122 NET PROFIT/(LOSS) FROM CONTINUING OPERATIONS 1,205 (1,048) (1,694) 1,578 (179)

1,125 969 TAX EXPENSE/(BENEFIT) 435 (135) 825 352 440

745 784 NET FINANCIAL EXPENSES 295 237 213 221 280

ADJUSTMENTS:

222 – PROVISION FOR U.S. INVESTIGATION MATTERS (1) 222 – – – –

730 1,531 IMPAIRMENT EXPENSE AND SUPPLIER OBLIGATIONS (2) 87 – 643 11 1,376

55 195 RESTRUCTURING COSTS, NET OF REVERSALS 12 23 20 (41) (1)

(4) (7) LOSSES/(GAINS) ON DISPOSAL OF INVESTMENTS – 1 (5) (8) –

– (164)BRAZILIAN INDIRECT TAX – REVERSAL OF LIABILITY/RECOGNITION OF CREDITS

– – – – –

64 123 OTHER 20 (6) 50 2 43

1,067 1,678 TOTAL ADJUSTMENTS – CONTINUING OPERATIONS 341 18 708 (36) 1,418

1,400 4,553 ADJUSTED EBIT 2,276 (928) 52 2,115 1,959

€ million


R E C O N C I L I A T I ON O F N E T P R O F I T / (L O S S ) T O A D J US T E D N E T P R O F I T / (L O S S )AN D D I L UT E D E P S T O AD J US T E D D I L UT E D E P S

DILUTED EPS TO ADJUSTED DILUTED EPS

(0.98) 0.71 DILUTED EPS FROM CONTINUING OPERATIONS 0.76 (0.66) (1.08) 1.00 (0.11)

0.99 1.04 IMPACT OF ADJUSTMENTS, NET OF TAXES, ON DILUTED EPS 0.21 0.01 0.78 (0.03) 0.92

0.01 1.75 ADJUSTED DILUTED EPS 0.97 (0.65) (0.30) 0.97 0.81

1,571,183 1,570,576 WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING FOR DILUTED EPS (000) 1,579,505 1,571,440 1,568,001 1,573,810 1,571,155

NINE MONTHS ENDED

NET PROFIT/ (LOSS) TO ADJUSTED NET PROFIT/ (LOSS)

THR EE MO NTHS END ED

SEP 30

2020

JUN 30

2020

MAR 31

2020

DEC 31

2019

SEP 30

2019

SEP 30

2020

SEP 30

2019

(1,537) 5,092 NET PROFIT/(LOSS) (including Magneti Marelli results and net gain on disposal) 1,205 (1,048) (1,694) 1,538 (179)

– 3,970 LESS: NET PROFIT/(LOSS) – DISCONTINUED OPERATIONS – – – (40) –

– 3,809 OF WHICH: GAIN/(LOSS) ON COMPLETION OF MAGNETI MARELLI SALE, NET OF TAXES – – – (40) –

– 161 OF WHICH: NET PROFIT MAGNETI MARELLI (1) – – – – –

(1,537) 1,122 NET PROFIT/(LOSS) FROM CONTINUING OPERATIONS 1,205 (1,048) (1,694) 1,578 (179)

1,067 1,678 TOTAL ADJUSTMENTS – CONTINUING OPERATIONS (per Page 28) 341 18 708 (36) 1,418

(59) (117) TAX IMPACT ON ADJUSTMENTS (2) (16) (9) (34) (5) (54)

549 77 NET DERECOGNITION OF DEFERRED TAX ASSETS AND OTHER TAX ADJUSTMENTS (3) – – 549 – 77

1,557 1,638 TOTAL ADJUSTMENTS, NET OF TAXES 325 9 1,223 (41) 1,441

20 2,760 ADJUSTED NET PROFIT/(LOSS) 1,530 (1,039) (471) 1,537 1,262

(1) Reflects results of Magneti Marelli up to its deconsolidation on completion of the sale transaction on May 2 2019

(2) Reflects tax impact on adjustments excluded from Adjusted EBIT noted on Page 28

€/share

€ million

(3) For the nine months ended Sep 30 2020, reflects write-down of net deferred tax assets in Italy and Brazil, primarily in relation to tax loss carry-forwards in each respective country


R E C O N C I L I A T I O N O F C A S H F L O WS F R O M O P E R A T I N G A C T I V I T I E S T O I N D U S T R I A L F R E E C A S H F L O WS

€ million

NINE MONTHS ENDED THREE MONTHS ENDED

SEP 30

2020

SEP 30

2019

SEP 30

2020

JUN 30

2020

MAR 31

2020

DEC 31

2019

SEP 30

2019

2,898 6,094 CASH FLOWS FROM OPERATING ACTIVITIES 8,930 (3,212) (2,820) 4,368 2,343

– (308)LESS: CASH FLOWS FROM OPERATING ACTIVITIES –DISCONTINUED OPERATIONS

– – – – –

2,898 6,402CASH FLOWS FROM OPERATING ACTIVITIES –CONTINUING OPERATIONS

8,930 (3,212) (2,820) 4,368 2,343

19 59LESS: OPERATING ACTIVITIES NOT ATTRIBUTABLE TO INDUSTRIAL ACTIVITIES

2 22 (5) 15 13

6,179 5,481 LESS: CAPITAL EXPENDITURES FOR INDUSTRIAL ACTIVITIES 2,188 1,664 2,327 2,902 2,152

– (200)ADD: NET INTERCOMPANY PAYMENTS BETWEEN CONTINUING OPERATIONS AND DISCONTINUED OPERATIONS

– – – – –

68 – ADD: DISCRETIONARY PENSION CONTRIBUTION, NET OF TAX – – 68 – –

(3,232) 662 INDUSTRIAL FREE CASH FLOWS 6,740 (4,898) (5,074) 1,451 178


D E B T M A T U R I T Y S C H E D U L E

€ billion

OUTSTANDING

SEP 30 20203M 2020 2021 2022 2023 2024 BEYOND

15.5 BANK DEBT (1) 0.8 1.1 5.0 4.5 3.2 0.9

8.7 CAPITAL MARKETS DEBT 0.1 1.2 1.4 2.5 1.3 2.3

0.4 OTHER DEBT 0.4 0.0 0.0 0.0 0.0 0.0

1.7 LEASE LIABILITIES 0.1 0.3 0.2 0.2 0.2 0.8

26.4 TOTAL CASH MATURITIES (2) 1.4 2.7 6.5 7.3 4.7 3.9

26.2 CASH, CASH EQUIVALENTS AND CURRENT DEBT SECURITIES

0.9 UNDRAWN COMMITTED CREDIT LINES

–CASH, CASH EQUIVALENTS AND CURRENT DEBT SECURITIES INCLUDED WITHIN ASSETS HELD FOR SALE

27.1 TOTAL AVAILABLE LIQUIDITY (3)

(1) The maturity of the €6.25B syndicated revolving credit facility reflects its final contractual maturity (April 2023 for the first tranche of €3.125B and March 2024 for the second tranche of

€3.125B). For balance sheet presentation, the facility has been classified as current based on the expectation that it will be repaid in full in the next twelve months.

(2) Excludes debt held for sale of <€0.1B, as well as accruals and asset backed financing of <€0.1B at Sep 30 2020

(3) Excludes €1.1B undrawn portion of new €6.3B Intesa Sanpaolo credit facility

Figures may not add due to rounding


R E S E A R C H A N D D E VE L O P M E N T C O S T S A N D E X P E N D I T U R E S

NINE MONTHS ENDED SEP 30

RESEARCH AND DEVELOPMENT COSTS – CONTINUING OPERATIONS

THREE MONTHS ENDED SEP 30

2020 2019 2020 2019

897 944 RESEARCH AND DEVELOPMENT EXPENDITURES EXPENSED 299 312

917 1,027 AMORTIZATION OF CAPITALIZED DEVELOPMENT EXPENDITURES 301 331

365 940 IMPAIRMENT AND WRITE-OFF OF CAPITALIZED DEVELOPMENT EXPENDITURES 70 813

2,179 2,911 TOTAL RESEARCH AND DEVELOPMENT COSTS 670 1,456

RESEARCH AND DEVELOPMENT EXPENDITURES – CONTINUING OPERATIONS

1,876 1,956 CAPITALIZED DEVELOPMENT EXPENDITURES 635 707

897 944 RESEARCH AND DEVELOPMENT EXPENDITURES EXPENSED 299 312

2,773 2,900 TOTAL RESEARCH AND DEVELOPMENT EXPENDITURES 934 1,019

€ million

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