Slide 1: Full Year 2021 Results
FULL YEAR 2021 RESULTS FEBRUARY 23, 2022
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This document, in particular references to “2022 Guidance”, contains forward- innovative, attractive products and to develop, manufacture and sell vehicles looking statements. In particular, statements regarding future financial with advanced features including enhanced electri
Slide 3: Executing at Full Speed with Record Profitability
EXECUTING AT FULL SPEED WITH RECORD PROFITABILITY Record 11.8% Adjusted Operating ~€3.2B of Net Cash Synergies Income (AOI) Margin(1) drive €6.1B of Industrial Free Cash Flows(1) up 70%, with all segments profitable; H2 margin up sequentially to 12.2% LEV(2) Sales Worldwide Reached Commercial Vehicl
Slide 4: North America – Record Profitability
NORTH AMERICA – RECORD PROFITABILITY Record 16.3% AOI Margin(1) Highest U.S. Retail ATP Entered MOUs for despite unfilled semiconductor orders, Among D3 OEMs(2); Two Separate Battery JVs(3) with strong pricing and mix 2021 ATP up ~20% y-o-y to $47k to provide at least 63 GWh of total cell capacity b
Slide 5: Enlarged Europe – Strong Profitability Growth
ENLARGED EUROPE – STRONG PROFITABILITY GROWTH FY AOI Margin(1) of 9.1% CO2 Compliant on Standalone Basis Growth in Eurasia with H2 up sequentially to 9.4% at 110.6 g/km(2), 4% better than with 2021 market share(3) at 1.6%, 2021 expected target up 50 bps y-o-y EU30(4) Market Share at 22.1% EU30 LEV M
Slide 6: Rest of World – Driving Incremental Growth
REST OF WORLD – DRIVING INCREMENTAL GROWTH China and South America Middle East & Africa India & Asia Pacific AOI Margin(1) of 8.3% AOI Margin(1) of 10.5% AOI Margin(1) of 11.1% with AOI of €882M, with AOI nearly doubled y-o-y Net Revenues(1) up 24% y-o-y up more than 5X y-o-y Clear Market Leader(2)
Slide 7: Global SUV
GLOBAL SUV Pricing Power +6.5%, +1.5% Launched Compass, Renegade ~25% LEV Mix in EU30(2) and -0.2% vs. Benchmark and Wrangler 4xe Variants for 2021, with France at ~50% mix for 2021 in U.S., Brazil and EU G7(1), in four regions, with Compass and and three markets near 100% mix respectively Renegade
Slide 8: American Brands
AMERICAN BRANDS 100% BEV Portfolio from 2028 Best Full-Size Pickup Share Ever Challenger #1 Selling with first BEV launched by 2025 and in U.S., with 26.2% share for 2021 Muscle Car in U.S. Airflow Concept unveiled at CES 2022 with 54k units sold in 2021 Pricing Power +2.7% Pricing Power +2.3% Prici
Slide 9: Upper Mainstream
UPPER MAINSTREAM Market Share(1) Up in Mokka-e Awarded 208 #1 Selling Vehicle Worldwide Sales EU30(2) and Germany Golden Steering Wheel 2021 and 2008 #1 Selling B-SUV up 5% in 2021 to 4.3% and 6.2% respectively as “Best Car under €25,000” in EU30 for 2021; brand becomes first vs. 2020 time market le
Slide 10: Core
CORE South America C4 Top Selling C-Hatch Market Leader(3) in Brazil, #1 Selling BEV Market Share Up in France and Spain for 2021 Italy and Turkey; Regained in 12 Countries 30 bps y-o-y to 1.4% for 2021 with 15.6% and 11.7% segment South America Leadership in A-Segment; 44k units share, respectively
Slide 11: Commercial Vehicles
COMMERCIAL VEHICLES Market Leader in EU30(1) All-New Ram ProMaster BEV #1 BEV Van Sales in EU30 and South America to be Launched in 2023 with 14k vehicles sold in 2021 for 2021 with 33.7% and 30.9% share, with Amazon first commercial respectively; 1.9M vehicles sold globally(2) customer Best Year Ev
Slide 12: Premium
PREMIUM 100% BEV Portfolio from 2027 100% Electrified in 2024 100% BEV Launches from 2024 with 100% BEV Launches from 2026 Pricing Power +0.9% and Pricing Power -19.6% Pricing Power +2.2% +0.1% vs. Benchmark vs. Benchmark vs. Benchmark for 2021 in Europe G7(1) and U.S., for 2021 in Italy B-segment f
Slide 13: Luxury
LUXURY Back to Profitability Market Share(2) Growth Globally, Worldwide Sales Up 41% with AOI Margin(1) at 5.1%; all-new North America and China y-o-y with industry(2) up 6% MC20 supercar deliveries ramping up with 2021 share at 2.4%, 2.9% and 2.7%, respectively All-New Grecale To Debut in Formula E
Slide 14: Mobility Business Expansion
MOBILITY BUSINESS EXPANSION A Worldwide Mobility Leader Growth Across All Business Lines • Long-term rental originations up 15% vs. 2020 • Long-term rental originations up 45% vs. 2020 driven by B2C growth • New mobility business profitable, with revenues up 38% y-o-y driven • Short/medium-term rent
Slide 15: Affiliate Service Business
AFFILIATE SERVICE BUSINESS Financial Services Pre-Owned Vehicles Parts and Services U.S. Captive Finco Formed Improved Business Model Double-Digit Sales Growth as Stellantis Financial Services US; driven by improved pricing and vs. 2020 driven by Independent financing operations in Europe to be cost
Slide 16: 34 LEVs Available Today with 17 Launching in 2022 and 2023
34 LEVs AVAILABLE TODAY WITH 17 LAUNCHING IN 2022 AND 2023 Available 2022 & 2023 Launches Start of Sale Passenger Cars Commercial Vehicles Passenger Cars Commercial Vehicles Tonale 34 LEVs in Market Pacifica • 19 BEVs (o/w 3 BEVs & FCEVs) Ami C4 C5 Aircross Berlingo Jumpy Jumper TBA TBA C5X • 15 PHE
Slide 17: Financial Results
FINANCIAL RESULTS February 23, 2022 FY 2021 RESULTS | 17
Slide 18: Basis of Presentation
BASIS OF PRESENTATION • Completed merger of Peugeot S.A. (PSA) with and into Fiat Chrysler Automobiles N.V. (FCA) on Jan 16 ’21 (Merger) • On Jan 17 ’21, combined company was renamed Stellantis N.V. (Stellantis or Company) • PSA was determined to be the acquirer for accounting purposes, therefore, h
Slide 19: Record 11.8% Margin with €6.1B Industrial Free Cash Flows
RECORD 11.8% MARGIN WITH €6.1B INDUSTRIAL FREE CASH FLOWS RESULTS FROM CONTINUING OPERATIONS FY 2021 • Pro Forma Consolidated Shipments Pro Forma +4% primarily due to impact of 2020 vs. COVID-related temporary production FY 2021 FY 2020 FY 2020 suspensions, mostly offset by 2021 € million, except as
Slide 20: Net Profit of €13.4B, Nearly Tripled Y-o-Y
NET PROFIT OF €13.4B, NEARLY TRIPLED Y-O-Y RESULTS FROM CONTINUING OPERATIONS • Pro Forma Net Revenues up €18.2B, FY 2021 or 14% Pro Forma vs. FY 2021 FY 2020 FY 2020 € million, except as otherwise stated FY 2021 (1) FY 2020 (1) Pro Forma (1) Pro Forma (1) Pro Forma • Pro Forma Net Financial Expense
Slide 21: Net Revenues
STRONG MIX AND NET PRICING DRIVE REVENUE GROWTH NET REVENUES € billion + 14% 10.2 0.2 152.1 8.8 149.4 133.9 2.2 (3.2) (2.7) Vehicle Exclude FY 2020 Volume & Vehicle FX FY 2021 Net Price Other Pro Forma FY 2021(1) Pro Forma(1) Market Mix Line Mix Translation Pro Forma(1) & Content Adjustments (1) Ref
Slide 22: Adjusted Operating Income
PROFITABILITY NEARLY DOUBLED, RECORD 11.8% MARGIN ADJUSTED OPERATING INCOME * € million % = Adjusted Operating Income Margin 3,299 8,402 218 18,011 17,827 (430) (2,783) (147) (589) (184) 817 9,224 11.9% 11.8% 6.9% Operating Performance: + 7,970 or + 86% Environment Vehicle Exclude FY 2020 Industry &
Slide 23: North America
RECORD 16.3% MARGIN SHIPMENTS NET REVENUES ADJUSTED OPERATING INCOME & MARGIN (000 units) (€ billion) (€ million) 1,852 69.7 11,356 1,820 60.6 6,123 16.3% 10.1% FY '21 FY '20 FY '21 FY '20 FY '21 FY '20 Pro Forma (1) Pro Forma (1) Pro Forma (1) Pro Forma (1) Pro Forma (1) Pro Forma (1) • Down 2%, ma
Slide 24: South America
MARKET SHARE LEADERSHIP WITH STRONG FINANCIAL RESULTS SHIPMENTS NET REVENUES ADJUSTED OPERATING INCOME & MARGIN (000 units) (€ billion) (€ million) 10.7 882 830 560 6.3 8.3% 156 2.5% FY '21 FY '20 FY '21 FY '20 FY '21 FY '20 Pro Forma (1) Pro Forma (1) Pro Forma (1) Pro Forma (1) Pro Forma (1) Pro F
Slide 25: Enlarged Europe
STRONG PROFITABLE FOUNDATION, H2 UP SEQUENTIALLY TO 9.4% SHIPMENTS NET REVENUES ADJUSTED OPERATING INCOME & MARGIN (000 units) (€ billion) (€ million) 2,860 2,939 59.1 5,370 56.5 3,059 9.1% 5.4% FY '21 FY '20 FY '21 FY '20 FY '21 FY '20 Pro Forma (1) Pro Forma (1) Pro Forma (1) Pro Forma (1) Pro For
Slide 26: Middle East & Africa
DOUBLE-DIGIT MARGIN DRIVEN BY STRONG PRICING COMBINED SHIPMENTS NET REVENUES ADJUSTED OPERATING INCOME & MARGIN (000 units) (€ billion) (€ million) JV Consolidated 5.2 545 4.8 389 398 300 116 141 10.5% 273 257 6.3% FY '21 FY '20 FY '21 FY '20 FY '21 FY '20 Middle East & Africa Pro Forma (1) Pro Form
Slide 27: Profitability Growth for China, India & Asia Pacific and Maserati
PROFITABILITY GROWTH FOR CHINA, INDIA & ASIA PACIFIC AND MASERATI China and India & Asia Pacific China and India & Asia Pacific • Improved results mainly driven FY 2021 FY 2020 FY 2021 FY 2020 by favorable net pricing, volumes Pro Forma (1) Pro Forma (1) Pro Forma (1) Pro Forma (1) and vehicle mix,
Slide 28: Industrial Free Cash Flows
STRONG CASH GENERATION AND €3.2B NET CASH SYNERGIES INDUSTRIAL FREE CASH FLOWS * € million 5,988 17,923 (1,043) 1,813 7,885 (10,875) 6,072 (1,810) (747) (3,364) FY 2021 FY 2021 Exclude FCA Pro Forma (1) Capex, FY 2021 (1) Changes in Financial Pro Forma (1) Jan 1 – 16 ‘21 Industrial Depreciation Capi
Slide 29: Disciplined Inventory Rebuilding
DISCIPLINED INVENTORY REBUILDING NEW VEHICLE INVENTORY 000 units • Rebuilding inventory in all regions, with strong discipline, in order to meet 1,256 consumer demand 171 • North America dealer inventory 882 791 Company down 186k units from Dec 31 ‘20 689 110 96 • Enlarged Europe dealer inventory 14
Slide 30: 2022 Industry Outlook and Guidance
2022 INDUSTRY OUTLOOK AND GUIDANCE North America South America Enlarged Europe + 3% + 3% + 3% Moderate growth Moderate growth Moderate growth expected in all markets, expected, particularly expected in all major particularly U.S. in Brazil markets, particularly in Germany, Spain and U.K. Middle East
Slide 31: Long-Term Strategic Plan to be Unveiled on March 1
RECORD RESULTS DRIVEN BY SPEED OF EXECUTION FROM DAY ONE Powered by Our Diversity, Record Profitability and Key Strategic Partnerships in We Lead the Way the World Accelerated Achievement of Electrification and Software Moves Synergies Long-Term Strategic Plan to be Unveiled on March 1 Peugeot 9x8 H
Slide 32: Appendix
APPENDIX February 23, 2022 FY 2021 RESULTS | 32
Slide 33: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES Stellantis monitors its operations through the use of several non-generally accepted accounting principles (non-GAAP) financial measures. Company management believes that these non-GAAP financial measures provide useful and relevant information regarding our operating res
Slide 34: Full Year Key Commercial Metrics
FULL YEAR KEY COMMERCIAL METRICS COMBINED SALES 000 units 6,579 6,333 3,101 3,080 FY 2021 2,005 2,058 FY 2020 812 593 412 396 103 84 122 106 24.3 17.2 North South Enlarged Middle East India & Total China America America Europe & Africa Asia Pacific MARKET SHARE (1) 11.1% 11.8% 22.9% 19.1% 19.4% 19.3
Slide 35: H2 Key Commercial Metrics
H2 KEY COMMERCIAL METRICS COMBINED SALES 000 units 3,644 2,988 1,755 H2 2021 1,323 1,140 928 H2 2020 400 376 254 202 72 60 51 50 13.0 10.2 North South Enlarged Middle East India & Total China America America Europe & Africa Asia Pacific MARKET SHARE (1) 11.4% 11.7% 22.2% 20.2% 18.1% 19.0% 11.9% 15.1
Slide 36: H2 Key Financial Metrics
H2 KEY FINANCIAL METRICS RESULTS FROM CONTINUING OPERATIONS H2 2021 vs. H2 2020 H2 2020 € million, except as otherwise stated H2 2021 H2 2020 (1) Pro Forma (1) Pro Forma Combined Shipments (2) (000 units) 2,868 1,480 3,673 - 22% Consolidated Shipments (2) (000 units) 2,756 1,456 3,522 - 22% Net Reve
Slide 37: H2 Key P&L Metrics
H2 KEY P&L METRICS RESULTS FROM CONTINUING OPERATIONS H2 2021 vs. H2 2020 H2 2020 € million, except as otherwise stated H2 2021 H2 2020 (1) Pro Forma (1) Pro Forma Net Revenues 76,809 28,042 82,214 - 7% Operating Income 7,782 2,294 7,371 + 6% Net Financial Expenses 517 254 581 - 11% Profit before Ta
Slide 38: H2 2021 Net Revenues
H2 2021 NET REVENUES NET REVENUES € billion - 7% 82.2 5.3 0.9 4.5 76.8 (1.4) (14.7) H2 2020 Volume & Vehicle Net Price Vehicle FX Other H2 2021 Pro Forma(1) Market Mix & Content Line Mix Translation (1) Refer to Basis of Presentation for additional information regarding amounts presented for H2 2020
Slide 39: H2 2021 Adjusted Operating Income
H2 2021 ADJUSTED OPERATING INCOME ADJUSTED OPERATING INCOME * € million % = Adjusted Operating Income Margin 1,597 4,250 342 12 9,389 (300) 8,472 (2,201) (204) 12.2% 10.3% (2,579) Operating Performance: + 3,496 or + 41% Environment Vehicle H2 2020 Industry & Vehicle Market Share Net Price Industrial
Slide 40: H2 Results North America, South America
H2 RESULTS North America South America SHIPMENTS NET REVENUES SHIPMENTS NET REVENUES (000 units) (€ billion) (000 units) (€ billion) 37.3 37.8 1,155 947 406 374 5.7 4.1 H2 '21 H2 '20 H2 '21 H2 '20 H2 '21 H2 '20 H2 '21 H2 '20 Pro Forma (1) Pro Forma (1) Pro Forma (1) Pro Forma (1) ADJUSTED OPERATING
Slide 41: H2 Results Enlarged Europe, Middle East & Africa
H2 RESULTS Enlarged Europe Middle East & Africa SHIPMENTS NET REVENUES COMBINED SHIPMENTS NET REVENUES (000 units) (€ billion) (000 units) (€ billion) 1,758 JV Consolidated 1,196 33.8 27.0 268 189 104 54 2.7 3.0 135 164 H2 '21 H2 '20 H2 '21 H2 '20 H2 '21 H2 '20 H2 '21 H2 '20 Pro Forma (1) Pro Forma
Slide 42: H2 Results China and India & Asia Pacific
H2 RESULTS China and India & Asia Pacific H2 2021 H2 2020 H2 2021 H2 2020 Pro Forma (1) Pro Forma (1) € million, except as otherwise stated RESULTS FROM CONTINUING OPERATIONS Combined Shipments (2) (000 units) 117 106 + 10% n.a. n.a. n.a. Consolidated Shipments (2) (000 units) 59 59 flat 13.4 11.8 +
Slide 43: H2 2021 Industrial Free Cash Flows
H2 2021 INDUSTRIAL FREE CASH FLOWS INDUSTRIAL FREE CASH FLOWS * € million 3,193 9,343 2,303 575 7,235 (423) (5,542) (2,214) H2 2021 Capex, H2 2021 Changes in Financial Industrial Depreciation Capitalized Working Industrial Provisions Restructuring Charges Adjusted & Amortization R&D & Other Capital
Slide 44: Reconciliation of Net Revenues to Pro Forma Net Revenues FY 2021
RECONCILIATION OF NET REVENUES FROM EXTERNAL CUSTOMERS TO PRO FORMA NET REVENUES FY 2021 Pro Forma RESULTS FROM CONTINUING OPERATIONS China and Middle India & North South Enlarged East & Asia € million America America Europe Africa Pacific Maserati Other (1) Stellantis Net Revenues from External Cus
Slide 45: Reconciliation of Net Revenues H2 2021
RECONCILIATION OF NET REVENUES FROM EXTERNAL CUSTOMERS TO NET REVENUES H2 2021 RESULTS FROM CONTINUING OPERATIONS China and Middle India & North South Enlarged East & Asia € million America America Europe Africa Pacific Maserati Other (1) Stellantis Net Revenues from External Customers 37,286 5,732
Slide 46: Reconciliation of Net Revenues to Pro Forma FY 2020
RECONCILIATION OF NET REVENUES FROM EXTERNAL CUSTOMERS TO PRO FORMA NET REVENUES FY 2020 Pro Forma RESULTS FROM CONTINUING OPERATIONS China and Middle India & North South Enlarged East & Asia € million America America Europe Africa Pacific Maserati Other (1) Stellantis Net Revenues from External Cus
Slide 47: Reconciliation of Net Revenues to Pro Forma H2 2020
RECONCILIATION OF NET REVENUES FROM EXTERNAL CUSTOMERS TO PRO FORMA NET REVENUES H2 2020 Pro Forma RESULTS FROM CONTINUING OPERATIONS China and Middle India & North South Enlarged East & Asia € million America America Europe Africa Pacific Maserati Other (1) Stellantis Net Revenues from External Cus
Slide 48: Reconciliation of Net Profit to Pro Forma Adjusted Operating Income FY 2021
RECONCILIATION OF NET PROFIT TO PRO FORMA ADJUSTED OPERATING INCOME FY 2021 Pro Forma RESULTS FROM CONTINUING OPERATIONS China and North South Enlarged Middle East India & Asia € million America America Europe & Africa Pacific Maserati Other (1) Stellantis Net Profit from Continuing Operations 13,21
Slide 49: Reconciliation of Net Profit to Adjusted Operating Income FY 2021
RECONCILIATION OF NET PROFIT TO ADJUSTED OPERATING INCOME FY 2021 RESULTS FROM CONTINUING OPERATIONS China and North South Enlarged Middle East India & Asia € million America America Europe & Africa Pacific Maserati Other (1) Stellantis Net Profit from Continuing Operations 13,218 Tax Expense 1,911
Slide 50: Reconciliation of Net Profit to Adjusted Operating Income H2 2021
RECONCILIATION OF NET PROFIT TO ADJUSTED OPERATING INCOME H2 2021 RESULTS FROM CONTINUING OPERATIONS China and North South Enlarged Middle East India & Asia € million America America Europe & Africa Pacific Maserati Other (1) Stellantis Net Profit from Continuing Operations 7,418 Tax Expense 182 Net
Slide 51: Reconciliation of Net Profit to Pro Forma Adjusted Operating Income FY 2020
RECONCILIATION OF NET PROFIT TO PRO FORMA ADJUSTED OPERATING INCOME FY 2020 Pro Forma RESULTS FROM CONTINUING OPERATIONS China and North South Enlarged Middle East India & Asia € million America America Europe & Africa Pacific Maserati Other (1) Stellantis Net Profit from Continuing Operations 2,338
Slide 52: Reconciliation of Net Profit to Pro Forma Adjusted Operating Income H2 2020
RECONCILIATION OF NET PROFIT TO PRO FORMA ADJUSTED OPERATING INCOME H2 2020 Pro Forma RESULTS FROM CONTINUING OPERATIONS China and North South Enlarged Middle East India & Asia € million America America Europe & Africa Pacific Maserati Other (1) Stellantis Net Profit from Continuing Operations 1,541
Slide 53: Reconciliation of Cash Flows from Operating Activities to Industrial Free Cash Flows
RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES TO PRO FORMA INDUSTRIAL FREE CASH FLOWS € million H2 2021 FY 2021 Cash Flows from Operating Activities 13,031 18,646 Less: Cash Flows from Operating Activities – Discontinued Operations ‒ ‒ Cash Flows from Operating Activities – Continuing Opera
Slide 54: Reconciliation of Debt to Industrial Net Financial Position
RECONCILIATION OF DEBT TO INDUSTRIAL NET FINANCIAL POSITION € million Jun 30 2021 Dec 31 2021 Debt (31,359) (33,582) Current Financial Receivables from Jointly-Controlled Financial Services Companies 67 103 Derivative Financial Assets/(Liabilities), Net and Collateral Deposits (214) (9) Financial Se
Slide 55: Aggregated Industrial Free Cash Flows, Net Financial Position and Available Liquidity
AGGREGATED INDUSTRIAL FREE CASH FLOWS, NET FINANCIAL POSITION AND AVAILABLE LIQUIDITY RESULTS FROM CONTINUING OPERATIONS H2 2020 FY 2020 € million Aggregated Aggregated PSA Automotive Free Cash Flows 6,261 2,660 FCA Industrial Free Cash Flows 10,596 624 Aggregated Industrial Free Cash Flows (1) 16,8
Slide 56: Debt Maturity Schedule – Industrial Activities
DEBT MATURITY SCHEDULE – INDUSTRIAL ACTIVITIES € billion Outstanding Dec 31 2021 2022 2023 2024 2025 2026 Beyond 17.5 Capital Markets Debt 1.4 3.2 2.0 0.7 2.5 7.8 9.4 Bank Debt (1) 6.5 1.7 0.4 0.9 0.0 0.0 0.5 Other Debt 0.4 0.0 0.0 0.0 0.0 0.0 2.5 Lease Liabilities 0.4 0.4 0.4 0.2 0.1 1.0 29.9 Total
Slide 57: Research and Development Costs and Expenditures
RESEARCH AND DEVELOPMENT COSTS AND EXPENDITURES RESULTS FROM CONTINUING OPERATIONS € million H2 2020 FY 2021 FY 2020 H2 2021 H2 2020 (1) Pro Forma (1) FY 2021 (1) FY 2020 (1) Pro Forma (1) Pro Forma (1) Research and Development Expenditures Expensed 1,456 701 1,509 2,761 1,281 2,818 2,808 Amortizati
Slide 58: STELEANTIS
STELEANTIS