Slide 1: First Half 2022 Results
FIRST HALF 2022 RESULTS JULY 28, 2022
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This document, in particular references to “FY 2022 Guidance”, contains forward- with advanced features including enhanced electrification, connectivity and looking statements. In particular, statements regarding future financial autonomous driving characteristics; various type
Slide 3: Record Profitability with Leading LEV Sales
RECORD PROFITABILITY WITH LEADING LEV SALES Record 14.1% Adjusted Industrial Free Cash Flows Operating Income (AOI) Margin of €5.3B, including €3.1B of with all 5 regions posting double-digit Net Cash Synergies margins #2 in EU30 for BEV and LEV Sales Commercial Vehicles Market #3 in U.S. for LEV Sa
Slide 4: North America – Record Profitability
NORTH AMERICA – RECORD PROFITABILITY Record 18.1% AOI Margin H1 Market Share Up Highest U.S. ATP despite logistics challenges and 40 bps y-o-y to 11.3%, with across portfolio vs. competitors(1) unfilled semiconductor orders U.S. share up 50 bps to 11.7% at $52k/unit for H1 #3 in U.S. LEV Sales(2) Al
Slide 5: Enlarged Europe – Electrification Takeoff
ENLARGED EUROPE – ELECTRIFICATION TAKEOFF AOI Margin of 10.4% EU30 LEV Market Share 19.2% EU30 H1 Market Share 21.2% up 160 bps y-o-y(1) for Jun ’22, up 690 bps from Dec ’21 down 190 bps y-o-y, despite unfilled semiconductor orders up 30 bps from H2 2021 #2 in EU30 for BEV Sales 5 Vehicles Among EU3
Slide 6: Rest of World – AOI Contribution More Than Doubled to €1.8B
REST OF WORLD – AOI CONTRIBUTION MORE THAN DOUBLED(1) TO €1.8B CHINA AND MIDDLE EAST & AFRICA SOUTH AMERICA INDIA & ASIA PACIFIC Record AOI Margin of 15.5% Record AOI Margin of 13.9% AOI Margin of 13.4% up 580 bps y-o-y(1), AOI of €472M H1 AOI above Full Year 2021 results with AOI up 40% y-o-y(1) to
Slide 7: Global SUV – On Path to Zero Emission Freedom
GLOBAL SUV – ON PATH TO ZERO EMISSION FREEDOM Pricing Power +8.2%, +2.6% Wrangler 4xe Remains Compass and Renegade and +0.5% vs. Benchmark #1 Selling PHEV in U.S.(1) #1 and #2 Selling LEVs in Italy for H1 in U.S., EU G7, and Brazil, respectively with 19k units sold in H1, up 55% y-o-y for H1; 42% LE
Slide 8: American Brands – Pricing Power Based on Sharp Positioning
AMERICAN BRANDS – PRICING POWER BASED ON SHARP POSITIONING Pacifica #2 Selling Highest Ever U.S. ATP(2) Best Ever U.S. ATP(2) PHEV in U.S.(1) for Ram 1500 for Challenger and Charger with 8k units sold in H1 at $57k/unit for H1 at $47k and $44k/unit, respectively for H1 Pricing Power +4.3% Pricing Po
Slide 9: Upper Mainstream – Gaining Electrification Momentum
UPPER MAINSTREAM – GAINING ELECTRIFICATION MOMENTUM Corsa #1 Selling Car Global BEV Sales Up 52% 208 #1 Selling Vehicle in EU30 H1 South America in Germany B-Segment in H1 to 32k units #1 LEV Brand in France Market Share Up 43% and overall best-selling car in UK brand market leader in France(1) for
Slide 10: Core – Affordable and Aspirational
CORE – AFFORDABLE AND ASPIRATIONAL South America All-New C3 Production Market Leader in Brazil, #1 Selling BEV in H1 Market Share Up Started in India and Brazil Italy and Turkey Germany and Italy 30 bps y-o-y to 1.6% deliveries to start in July and with H1 share of 21.9%, 16.3% and across all segmen
Slide 11: Commercial Vehicles – Clear Leadership in BEV Sales
COMMERCIAL VEHICLES – CLEAR LEADERSHIP IN BEV SALES H1 Market Leader in Best Ever Market Share in #1 BEV Sales in EU30 EU30 and South America Middle East & Africa with nearly 50% with 33.2% and 30.7% share, respectively, with H1 share of 12.9%; BEV market share for H1, 1,550 bps and 1,670 bps ahead
Slide 12: Premium – Gaining Momentum
PREMIUM – GAINING MOMENTUM 100% BEV Portfolio from 2027 100% Electrified in 2024 100% BEV Launches from 2024 100% BEV Launches from 2026 EU30 LEV sales mix at 39% for H1 Pricing Power +3.5% and -1.2% Pricing Power –17.6% Pricing Power +2.2% vs. Benchmark vs. Benchmark vs. Benchmark for H1 in Europe
Slide 13: Luxury – On Path to Double-Digit Profitability
LUXURY – ON PATH TO DOUBLE-DIGIT PROFITABILITY AOI Margin of 6.6% H1 Market Share(2) Up Pricing Power +2.7% up 330 bps y-o-y(1), y-o-y in all key markets except vs. Benchmark AOI more than doubled to €62M China down 40 bps to 1.9% for H1 in Europe G5(3) All-New MC 20 Cielo Launched All-New Grecale L
Slide 14: Affiliates – Growing New Profitable Businesses
AFFILIATES – GROWING NEW PROFITABLE BUSINESSES FINANCIAL SERVICES CIRCULAR ECONOMY PRE-OWNED VEHICLES U.S. Captive Finco Reman Parts Sales Growth Robust Business Model Development On Track up 32% y-o-y(3) driven by continuous pricing expanded to near-prime and prime consumer improvements and synergi
Slide 15: Electrification Strategy Progressing at Full Speed
ELECTRIFICATION STRATEGY PROGRESSING AT FULL SPEED 5 Gigafactories Confirmed Strengthened Low-Carbon ~188 GWh initial production capacity Lithium Hydroxide Supply Global BEV Sales Up Nearly 50% (3) (1) #2 in EU30 for BEV and LEV Sales #3 in U.S. for LEV Sales(2) (1) NextStar Energy 246 181 Emotors P
Slide 16: Financial Results
FINANCIAL RESULTS July 28, 2022 H1 2022 RESULTS | 16
Slide 17: 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 18: Record 14.1% Margin with €5.3B Industrial Free Cash Flows
RECORD 14.1% MARGIN WITH €5.3B INDUSTRIAL FREE CASH FLOWS RESULTS FROM CONTINUING OPERATIONS H1 2022 vs. H1 2021 H1 2021 • Consolidated Shipments down 7% € million, except as otherwise stated H1 2022 H1 2021 (1) Pro Forma (1) Pro Forma vs. H1 2021 Pro Forma due to impact of Combined Shipments (2) (0
Slide 19: Net Profit of €8.0B, Up 34%
NET PROFIT OF €8.0B, UP 34% RESULTS FROM CONTINUING OPERATIONS • Net Revenues up €12.7B or 17% y-o-y(2) H1 2022 vs. • Unusual Charges of €2.1B, up from H1 2021 H1 2021 €1.1B for H1 2021 Pro Forma, includes € million, except as otherwise stated H1 2022 H1 2021 (1) Pro Forma (1) Pro Forma accruals for
Slide 20: Net Revenues
STRONG NET PRICING, FAVORABLE VEHICLE MIX AND POSITIVE FX TRANSLATION NET REVENUES € billion + 17% 4.6 1.3 88.0 5.8 3.0 75.3 (2.0) H1 2021 Volume & Vehicle Net Price Vehicle FX Other H1 2022 Pro Forma (1) Market Mix & Content Line Mix Translation (1) Refer to Basis of Presentation for additional inf
Slide 21: Adjusted Operating Income
RECORD 14.1% MARGIN, PRICING MORE THAN OFFSETTING RAW MATERIAL HEADWINDS ADJUSTED OPERATING INCOME * € million % = Adjusted Operating Income Margin 5,848 678 3,217 12,374 457 8,622 (55) 14.1% (3,785) (182) Change in dealer stock +€2.3B 11.4% (2,426) Operating Performance: + 6,178 or + 72% Environmen
Slide 22: North America
RECORD 18.1% MARGIN SHIPMENTS NET REVENUES ADJUSTED OPERATING INCOME & MARGIN (000 units) (€ billion) (€ million) 959 42.4 7,683 873 32.4 5,236 18.1% 16.1% H1 '22 H1 '21 H1 '22 H1 '21 H1 '22 H1 '21 Pro Forma (1) Pro Forma (1) Pro Forma (1) NORTH AMERICA • Up 10%, mainly due to strong demand for all-
Slide 23: Enlarged Europe
DOUBLE-DIGIT MARGIN ACHIEVED AHEAD OF PLAN SHIPMENTS NET REVENUES ADJUSTED OPERATING INCOME & MARGIN (000 units) (€ billion) (€ million) 31.3 32.0 1,664 3,267 1,362 2,829 10.4% 8.8% H1 '22 H1 '21 H1 '22 H1 '21 H1 '22 H1 '21 ENLARGED EUROPE Pro Forma (1) Pro Forma (1) Pro Forma (1) • Down 18%, with d
Slide 24: Middle East & Africa
AOI NEARLY DOUBLED WITH FLAT VOLUMES COMBINED SHIPMENTS NET REVENUES ADJUSTED OPERATING INCOME & MARGIN (000 units) (€ billion) (€ million) JV Consolidated 472 199 200 3.0 2.5 61 62 247 15.5% 138 138 9.7% MIDDLE EAST & AFRICA H1 '22 H1 '21 H1 '22 H1 '21 H1 '22 H1 '21 Pro Forma (1) Pro Forma (1) Pro
Slide 25: South America
H1 ALREADY EXCEEDS FULL YEAR 2021 RESULTS SHIPMENTS NET REVENUES ADJUSTED OPERATING INCOME & MARGIN (000 units) (€ billion) (€ million) 1,002 403 424 7.2 4.9 13.9% 326 6.6% H1 '22 H1 '21 H1 '22 H1 '21 H1 '22 H1 '21 Pro Forma (1) Pro Forma (1) Pro Forma (1) SOUTH AMERICA • Down 5%, with strong demand
Slide 26: Strong Profitability Despite COVID Lockdowns
STRONG PROFITABILTY DESPITE COVID LOCKDOWNS CHINA AND INDIA & ASIA PACIFIC MASERATI China and India & Asia Pacific H1 2021 H1 2021 • Improved results mainly driven H1 2022 Pro Forma (1) H1 2022 Pro Forma (1) by favorable net pricing and vehicle mix, primarily related to € million, except as otherwis
Slide 27: Industrial Free Cash Flows
STRONG CASH GENERATION INCLUDES €3.1B NET CASH SYNERGIES INDUSTRIAL FREE CASH FLOWS * € million 3,213 12,292 (4,430) 5,319 (3,204) (67) (405) (2,080) H1 2022 Capex, H1 2022 Industrial Changes in Financial Depreciation Capitalized Working Industrial Adjusted Provisions Restructuring Charges & Amortiz
Slide 28: Dealer Inventory Levels Remain Low
DEALER INVENTORY LEVELS REMAIN LOW NEW VEHICLE INVENTORY • Dealer inventories down 381k units from Dec 31 ‘20 reflecting disciplined inventory management 000 units • Dealer inventories relatively flat from 1,256 Dec 31 ‘21 in all regions except North America and Enlarged Europe 171 845 882 o North A
Slide 29: 2022 Industry Outlook and Guidance
2022 INDUSTRY OUTLOOK AND GUIDANCE NORTH AMERICA ENLARGED EUROPE MIDDLE EAST & AFRICA FY 2022 GUIDANCE – CONFIRMED - 8% - 12% Stable Adjusted Operating Income Margin * Double-Digit Outlook for region reduced Outlook for region reduced Outlook for region from Stable y-o-y, primarily from -2% y-o-y, m
Slide 30: Resilient, All-Weather Company Focused on EV Leadership
RESILIENT, ALL-WEATHER COMPANY FOCUSED ON EV LEADERSHIP Sustainable Profitability BEVs Gaining Momentum Dare Forward 2030 with breakeven point at <50% 20 BEVs currently available; additional our blueprint for how we plan of 2021 consolidated shipments 28 BEVs to be launched through 2024 to lead the
Slide 31: Appendix
APPENDIX July 28, 2022 H1 2022 RESULTS | 31
Slide 32: Definitions and Notes to Presentation
DEFINITIONS AND NOTES TO PRESENTATION For purposes of this presentation, and unless otherwise stated: • Rankings, market share and other industry information are for passenger cars (PC) plus light commercial vehicles (LCV) and are derived from third-party industry sources (e.g. Agence Nationale des
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: H1 Key Commercial Metrics
H1 KEY COMMERCIAL METRICS COMBINED SALES 000 units 3,595 3,019 1,779 H1 2022 1,377 936 1,077 H1 2021 395 412 202 210 52 56 47 50 10.3 11.3 NORTH ENLARGED MIDDLE EAST SOUTH INDIA & TOTAL CHINA AMERICA EUROPE & AFRICA AMERICA ASIA PACIFIC MARKET SHARE (1) 11.3% 10.9% 19.6% 20.3% 11.9% 11.7% 23.5% 23.5
Slide 35: Q2 Key Commercial Metrics
Q2 KEY COMMERCIAL METRICS COMBINED SALES 000 units 1,843 1,547 Q2 2022 915 Q2 2021 699 474 545 109 105 211 219 28 28 22 25 5.1 6.0 NORTH ENLARGED MIDDLE EAST SOUTH INDIA & TOTAL CHINA AMERICA EUROPE & AFRICA AMERICA ASIA PACIFIC MARKET SHARE (1) 11.0% 10.4% 20.2% 19.8% 12.7% 11.8% 23.3% 24.9% 0.9% 0
Slide 36: Reconciliation of Net Revenues from External Customers to Net Revenues
RECONCILIATION OF NET REVENUES FROM EXTERNAL CUSTOMERS TO NET REVENUES H1 2022 RESULTS FROM CONTINUING OPERATIONS China and North Enlarged Middle East South India & € million America Europe & Africa America Asia Pacific Maserati Other (1) Stellantis Net Revenues from External Customers 42,442 31,275
Slide 37: Reconciliation of Net Revenues from External Customers to Pro Forma Net Revenues
RECONCILIATION OF NET REVENUES FROM EXTERNAL CUSTOMERS TO PRO FORMA NET REVENUES H1 2021 Pro Forma RESULTS FROM CONTINUING OPERATIONS China and North Enlarged Middle East South India & € million America Europe & Africa America Asia Pacific Maserati Other (1) Stellantis Net Revenues from External Cus
Slide 38: Reconciliation of Net Profit to Adjusted Operating Income
RECONCILIATION OF NET PROFIT TO ADJUSTED OPERATING INCOME H1 2022 RESULTS FROM CONTINUING OPERATIONS China and North Enlarged Middle East South India & € million America Europe & Africa America Asia Pacific Maserati Other (1) Stellantis Net Profit from Continuing Operations 7,960 Tax Expense 1,985 N
Slide 39: Reconciliation of Net Profit to Pro Forma Adjusted Operating Income
RECONCILIATION OF NET PROFIT TO PRO FORMA ADJUSTED OPERATING INCOME H1 2021 Pro Forma RESULTS FROM CONTINUING OPERATIONS China and North Enlarged Middle East South India & € million America Europe & Africa America Asia Pacific Maserati Other (1) Stellantis Net Profit from Continuing Operations 5,800
Slide 40: Reconciliation of Net Profit to Adjusted Operating Income
RECONCILIATION OF NET PROFIT TO ADJUSTED OPERATING INCOME H1 2021 RESULTS FROM CONTINUING OPERATIONS China and North Enlarged Middle East South India & € million America Europe & Africa America Asia Pacific Maserati Other (1) Stellantis Net Profit from Continuing Operations 5,800 Tax Expense 1,729 N
Slide 41: Reconciliation of Cash Flows from Operating Activities to Industrial Free Cash Flows
RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES TO INDUSTRIAL FREE CASH FLOWS € million H1 2022 H1 2021 Cash Flows from Operating Activities 9,843 5,615 Less: Cash Flows from Operating Activities – Discontinued Operations ‒ ‒ Cash Flows from Operating Activities – Continuing Operations 9,843
Slide 42: Reconciliation of Debt to Industrial Net Financial Position
RECONCILIATION OF DEBT TO INDUSTRIAL NET FINANCIAL POSITION € million Jun 30 2022 Dec 31 2021 Debt (28,164) (33,582) Current Financial Receivables from Jointly-Controlled Financial Services Companies 332 103 Derivative Financial Assets/(Liabilities), Net and Collateral Deposits 14 (9) Financial Secu
Slide 43: Debt Maturity Schedule – Industrial Activities
DEBT MATURITY SCHEDULE – INDUSTRIAL ACTIVITIES € billion Outstanding Jun 30 2022 6M 2022 2023 2024 2025 2026 Beyond 18.8 Capital Markets Debt 1.4 3.4 2.0 0.7 2.5 8.9 2.9 Bank Debt 1.1 0.4 0.4 0.9 0.0 0.0 0.6 Other Debt 0.5 0.1 0.0 0.0 0.0 0.0 2.5 Lease Liabilities 0.4 0.5 0.4 0.2 0.1 1.0 24.7 Total
Slide 44: Research and Development Costs and Expenditures
RESEARCH AND DEVELOPMENT COSTS AND EXPENDITURES RESULTS FROM CONTINUING OPERATIONS € million H1 2021 H1 2022 H1 2021 (1) Pro Forma (1) Research and Development Expenditures Expensed 1,605 1,305 1,362 Amortization of Capitalized Development Expenditures 931 726 742 Impairment and Write-off of Capital
Slide 45: STELEANTIS
STELEANTIS