Slide 1: Full Year 2023 Results
FULL YEAR 2023 RESULTS Jeep Wagoneer S
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This document, in particular references to “FY 2024 Guidance”, contains forward looking policy, the imposition of global and regional tariffs or tariffs targeted to the automotive statements. In particular, statements regarding future financial performance and the industry, the
Slide 3: Record Performance, Clear Transformation Progress
RECORD PERFORMANCE, CLEAR TRANSFORMATION PROGRESS Dodge Charger Daytona SRT Concept Growth in Top and Bottom Delivering on Dare Resilient and Ready for Line Financial Results Forward Commitments Any Scenario in 2024
Slide 4: Agenda
AGENDA Company Highlights..……..……Page 5 Regional Highlights…………….. Page 6 Other Business Highlights…..Page 9 Brand Highlights...................... Page 10 Financial Results…………………..Page 11 Shareholder Returns.……………Page 18 Guidance….…….………………………Page 19 Upcoming Events…………..……. Page 20 2024 Strategic
Slide 5: Record Results Confirm the Stellantis Strategy Is on Track
RECORD RESULTS CONFIRM THE STELLANTIS STRATEGY IS ON TRACK Growth in Net Revenues and Industrial Free Cash Flows €12.9B Outstanding 2023 Capital Return Growth in Top Adj. Operating Income(1) up 19% y-o-y; driven by AOI performance and Returned €6.6B to shareholders, equivalent to & Bottom Net Revenu
Slide 6: North America: Resilient Execution Laying the Foundation for LEV Surge in 2024
NORTH AMERICA: RESILIENT EXECUTION LAYING THE FOUNDATION FOR LEV SURGE IN 2024 15.4% AOI(1) Margin Market Share 9.4% Highest U.S. ATP Down 100 bps y-o-y, due primarily to down 130 bps y-o-y, with across portfolio vs. competitors(2) production disruptions and costs related to gains in Mexico more tha
Slide 7: Enlarged Europe: Responding to Competition, Sustaining Leading Position
ENLARGED EUROPE: RESPONDING TO COMPETITION, SUSTAINING LEADING POSITION AOI(1) Grew to €6.5B EU30 Market Share 18.3% #3 in EU30 BEV Sales Margin stable y-o-y at 9.8%, despite down 140 bps y-o-y, Enlarged Europe 14.2% market share; growing BEV sales increasing the LEV and BEV mix shipments up 188k un
Slide 8: Third Engine Thriving with China Resetting Growth Strategy
“THIRD ENGINE”(1) THRIVING WITH CHINA RESETTING GROWTH STRATEGY CHINA AND MIDDLE EAST & AFRICA SOUTH AMERICA INDIA & ASIA PACIFIC AOI(2) Margin of 23.7% AOI Margin of 14.8% AOI Margin of 14.2% AOI more than doubling y-o-y to €2.5B AOI up 16% y-o-y to €2.4B stable y-o-y, despite Net Revenues and AOI
Slide 9: Accretive Businesses Expanding Globally to Reinforce and Complement Core Operations
ACCRETIVE BUSINESSES EXPANDING GLOBALLY TO REINFORCE & COMPLEMENT CORE OPERATIONS FINANCIAL SERVICES CIRCULAR ECONOMY(1) U.S. Finco Operations Rapidly Expanding Sales Growth of 18% y-o-y, highly Receivables $7B at Dec 31st, tripling y-o-y and trending to exceed $10B accretive profitability level tar
Slide 10: Constellation of Brands
Strongest Growth Among Global Premium Alfa Romeo 33 Stradale Revolutionizing Line-Up 2025 Ram 1500 Ramcharger Innovative ICE and LEV options Brands(1) +33% globally, +52% in Enlarged tailoring to customer needs while BIG+75% Europe and DEVELOPMENTS FROM OUR CONSTELLATION OF BRANDS in Middle East & A
Slide 11: Financial Results
FINANCIAL RESULTS FEBRUARY 15, 2024 FY 2023 RESULTS | 11
Slide 12: Strong Development Across Focus Metrics
STRONG DEVELOPMENT ACROSS FOCUS METRICS Shipments Net Revenues AOI(1) Margin* Industrial FCF* 6.2M €189.5B 12.8% €12.9B +7% +6% -60 bps +19% Double-digit Consolidated Growth in shipments coupled Due to costs of North American Driven by AOI growth and Shipments growth outside of with strong net prici
Slide 13: Net Revenues
VOLUME GROWTH AND STRONG NET PRICING MORE THAN OFFSET FX HEADWINDS NET REVENUES € billion + 6% • Volume & Mix +5% y-o-y led mainly by positive contributions from Middle East & Africa and 6.7 Enlarged Europe 8.2 1.6 189.5 179.6 (6.5) • Vehicle Net Price +4% y-o-y due to positive net pricing in all se
Slide 14: Adjusted Operating Income
DISCIPLINED PRICING OFFSETS HEADWINDS TO PRESERVE ROBUST AOI(1) MARGIN ADJUSTED OPERATING INCOME* • Volume & Mix -5% y-o-y with higher € million % = Adjusted Operating Income Margin(1) shipments partly offsetting negative product and market mix impact in North America 6,730 • Vehicle Net Price +28%
Slide 15: New Vehicle Inventory: Relatively Stable Post-Normalization
NEW VEHICLE INVENTORY: RELATIVELY STABLE POST-NORMALIZATION Company Sequential Development Independent dealers 000 units 12-Month Comparisons 000 units 1,459 1,387 1,752 331 263 1,459 388 1,256 331 171 1,074 791 230 1,128 1,489 999 1,085 96 1,128 844 695 Sep 30 '23 Dec 31 '23 Dec 31 '19 Dec 31 '20 D
Slide 16: Increasing IFCF with Consistent Investments & Working Capital Progress
INCREASING IFCF WITH CONSISTENT INVESTMENTS & WORKING CAPITAL PROGRESS Industrial Free Cash Flow* Industrial AOI* to Industrial FCF Bridge Growing IFCF each Year through Strong Execution Consistent Investment & Progress Improving Working Capital Position € billion H2 12.9 € million FY 2022 FY 2023 2
Slide 17: Strong 12.8% AOI Margin and €12.9B Industrial Free Cash Flows
STRONG 12.8% AOI MARGIN(1) AND €12.9B INDUSTRIAL FREE CASH FLOWS FY 2023 vs. € million, except as otherwise stated FY 2023 FY 2022 FY 2022 Combined Shipments(2) (000 units) 6,393 6,003 + 6% • Operating income includes unusual charges of €2.0B, down y-o-y from Consolidated Shipments(2) (000 units) 6,
Slide 18: 2024 Capital Return Plans: Commitment to an Efficient Balance Sheet
2024 CAPITAL RETURN PLANS: COMMITMENT TO AN EFFICIENT BALANCE SHEET Purchases from Strategic Partners Open Market Buybacks ≥7.7 Dividends 6.6 Announcing new €3.0B(1) open-market buyback(2) program +26% Increase in cash returned to 3.0 shareholders through ordinary dividends 0.9 Reserve option to buy
Slide 19: FY 2024 Company Guidance – Addressing Headwinds Through Efficiency
FY 2024 COMPANY GUIDANCE – ADDRESSING HEADWINDS THROUGH EFFICIENCY Revenue Backdrop Industrial Free Cash Flows* Supportive Double-Digit Positive Minimum Commitment 2024 Raw Materials Product portfolio expansion Benchmark profitability Tailwinds Non-repeat NA Labor Negotiations Moderating interest ra
Slide 20: Upcoming Investor Events in H1 '24
UPCOMING INVESTOR EVENTS IN H1 ‘24 Annual General Q1 Shipments & Meeting Revenues Register Now April 16th April 30th FEBRUARY 15, 2024 FY 2023 RESULTS | 20
Slide 21: 2024 Strategic Outlook
2024 STRATEGIC OUTLOOK FEBRUARY 15, 2024 FY 2023 RESULTS | 21
Slide 22: Vans & Pickups: Pro One Targeting Global Leadership by 2027
VANS & PICKUPS: PRO ONE TARGETING GLOBAL LEADERSHIP BY 2027 CV Pro One Line-up DARE FORWARD 2030 CV(1) OBJECTIVES ON TRACK UPDATED AND EXPANDED LINE-UP ✓ 1/3 of Stellantis Total Net Revenues ✓ Ram offensive: 2025 Ram 1500 + Promaster BEV ✓ #1 in EU30, #1 in SA, #2 in MEA and #3 in NA ✓ Full van line
Slide 23: BEV Portfolio to Expand 60% to 48 in 2024
Peugeot E-3008 Ram 1500 REV Citroën ë-C3 BEV PORTFOLIO TO EXPAND 60% TO 48 IN 2024, REINFORCING THE DNA OF OUR ICONIC BRANDS Jeep Wagoneer S Dodge Charger Jeep Recon Daytona SRT Concept
Slide 24: BEV-Optimized and Future Proof
STLA Medium STLA Large Up to 700km range WLTP cycle Up to 500 miles range EPA cycle BEV-OPTIMIZED AND FUTURE PROOF Benchmark Performance Raising the Industry Standard Tailored Vehicle Capabilities Engineered-in Flexibility Meets Multi-Energy with segment-topping range, strong competitiveness to rein
Slide 25: 2023: Another Record Year
2023: ANOTHER RECORD YEAR Chrysler Halcyon Concept Car Growth in Top and Bottom Delivering on Dare Resilient and Ready for Line Financial Results Forward Commitments Any Scenario in 2024
Slide 26: Appendix
APPENDIX FEBRUARY 15, 2024 FY 2023 RESULTS | 26
Slide 27: Definitions and Notes to Presentation
DEFINITIONS AND NOTES TO PRESENTATION For purposes of this presentation, and unless otherwise stated: • LEV = Low emission vehicles, which include battery electric (BEV), plug-in hybrid (PHEV), range-extender electric vehicle (REEV), and fuel cell electric (FCEV) vehicles • EU30 = EU 27 (excluding M
Slide 28: Non-GAAP Financial Measures (1 of 3)
NON-GAAP FINANCIAL MEASURES (1 of 3) 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 oper
Slide 29: Non-GAAP Financial Measures (2 of 3)
NON-GAAP FINANCIAL MEASURES (2 of 3) • Adjusted Operating Income/(Loss) excludes from Net profit/(loss) adjustments comprising restructuring and other termination costs, impairments, asset write-offs, disposals of investments and unusual operating income/(expense) that are considered rare or discret
Slide 30: Non-GAAP Financial Measures (3 of 3)
NON-GAAP FINANCIAL MEASURES (3 of 3) This change was implemented as management believes these results are becoming increasingly relevant due to the number of partnerships Stellantis has recently engaged in, and will continue to engage in in the future, around electrification and other areas critical
Slide 31: Full Year Key Commercial Metrics
FULL YEAR KEY COMMERCIAL METRICS COMBINED SALES 000 units 6,175 5,842 2,717 2,572 FY 2023 1,782 1,791 FY 2022 879 844 614 415 92 105 65 92 26.7 23.4 NORTH ENLARGED MIDDLE EAST SOUTH INDIA & TOTAL CHINA AMERICA EUROPE & AFRICA AMERICA ASIA PACIFIC MARKET SHARE (1) 9.4% 10.7% 16.9% 18.3% 14.9% 11.9% 2
Slide 32: H2 Key Commercial Metrics
H2 KEY COMMERCIAL METRICS COMBINED SALES 000 units 2,996 2,826 1,274 1,196 H2 2023 843 855 H2 2022 468 450 321 213 44 54 34 45 12.2 13.2 NORTH ENLARGED MIDDLE EAST SOUTH INDIA & TOTAL CHINA AMERICA EUROPE & AFRICA AMERICA ASIA PACIFIC MARKET SHARE (1) 8.8% 10.0% 16.0% 17.0% 14.7% 12.0% 23.3% 23.0% 0
Slide 33: H2 Key Financial Metrics
H2 KEY FINANCIAL METRICS H2 2023 vs. € million, except as otherwise stated H2 2023 H2 2022 H2 2022 Combined Shipments(1) (000 units) 3,066 2,970 + 3% Consolidated Shipments(1) (000 units) 2,966 2,848 + 4% Net Revenues 91,176 91,593 n.m. Operating Income(2) 8,835 9,900 - 11% Net Financial Expenses 27
Slide 34: North America
POSITIONED TO MAINTAIN PROFITABILITY AMID PRODUCTION CHALLENGES SHIPMENTS NET REVENUES ADJUSTED OPERATING INCOME & MARGIN(1) (000 units) (€ billion) (€ million) 1,903 86.5 85.5 13,298 13,987 1,861 15.4% 16.4% FY '23 FY '22 FY '23 FY '22 FY '23 FY '22 NORTH AMERICA • Up 2%, mainly due to higher volum
Slide 35: Enlarged Europe
OVERCOMING LOGISTICAL CHALLENGES TO DRIVE TOP AND BOTTOM LINE GROWTH SHIPMENTS NET REVENUES ADJUSTED OPERATING INCOME & MARGIN(1) (000 units) (€ billion) (€ million) 66.6 6,519 6,218 2,814 2,626 63.3 9.8% 9.8% FY '23 FY '22 FY '23 FY '22 FY '23 FY '22 ENLARGED EUROPE • Up 7%, driven by Fiat Ducato,
Slide 36: Middle East & Africa
AOI MORE THAN DOUBLED ON BOOMING VOLUMES AND STRONG NET PRICING COMBINED SHIPMENTS NET REVENUES ADJUSTED OPERATING INCOME & MARGIN(1) (000 units) (€ billion) (€ million) JV Consolidated 10.6 2,503 616 6.5 173 426 1,188 143 23.7% 443 18.4% 283 MIDDLE EAST & AFRICA FY '23 FY '22 FY '23 FY '22 FY '23 F
Slide 37: South America
LEVERAGING MARKET LEADERSHIP TO DELIVER OUTSTANDING RESULTS SHIPMENTS NET REVENUES ADJUSTED OPERATING INCOME & MARGIN(1) (000 units) (€ billion) (€ million) 16.1 2,369 879 859 15.6 2,048 14.8% 13.1% FY '23 FY '22 FY '23 FY '22 FY '23 FY '22 • Up 2%, led by higher volumes of Fiat Fastback, • Up 3%, d
Slide 38: China and India & Asia Pacific; Maserati
EFFECTIVELY NAVIGATING CHALLENGES WHILE FOCUSING ON PROFITABILITY China and India & Asia Pacific CHINA AND INDIA & ASIA PACIFIC MASERATI • Maintained AOI Margin despite lower volumes and FX headwinds FY 2023 FY 2023 through disciplined pricing, favorable mix of higher Ram vs. vs. shipments in IAP, h
Slide 39: H2 Results: North America, Enlarged Europe
H2 RESULTS NORTH AMERICA ENLARGED EUROPE SHIPMENTS NET REVENUES SHIPMENTS NET REVENUES (000 units) (€ billion) (000 units) (€ billion) 40.6 43.0 1,336 1,264 31.7 32.0 880 902 H2 '23 H2 '22 H2 '23 H2 '22 H2 '23 H2 '22 H2 '23 H2 '22 ADJUSTED OPERATING INCOME (1) ADJUSTED OPERATING INCOME(1) € million
Slide 40: H2 Results: Middle East & Africa, South America
H2 RESULTS MIDDLE EAST & AFRICA SOUTH AMERICA COMBINED SHIPMENTS NET REVENUES SHIPMENTS NET REVENUES (000 units) (€ billion) (000 units) (€ billion) JV Consolidated 459 456 315 8.5 8.4 80 227 5.9 82 3.4 235 145 H2 '23 H2 '22 H2 '23 H2 '22 H2 '23 H2 '22 H2 '23 H2 '22 ADJUSTED OPERATING INCOME(1) ADJU
Slide 41: H2 Results: China and India & Asia Pacific, Maserati
H2 RESULTS CHINA AND INDIA & ASIA PACIFIC MASERATI € million, except as otherwise stated H2 2023 H2 2022 H2 2023 H2 2022 Combined Shipments (1) (000 units) 64 105 - 39% n.a. n.a. n.a. Consolidated Shipments (1) (000 units) 44 65 - 32% 11.3 15.7 - 28% Net Revenues 1,542 2,353 - 34% 1,026 1,379 - 26%
Slide 42: Reconciliation of Net Revenues from External Customers to Net Revenues
RECONCILIATION OF NET REVENUES FROM EXTERNAL CUSTOMERS TO NET REVENUES FY 2023 China and North Enlarged Middle East South India & € million America Europe & Africa America Asia Pacific Maserati Other (1) Stellantis Net Revenues from External Customers 86,498 66,444 10,560 16,148 3,526 2,335 4,033 18
Slide 43: Reconciliation of Net Revenues from External Customers to Net Revenues
RECONCILIATION OF NET REVENUES FROM EXTERNAL CUSTOMERS TO NET REVENUES FY 2022 China and North Enlarged Middle East South India & € million America Europe & Africa America Asia Pacific Maserati Other (1) Stellantis Net Revenues from External Customers 85,474 63,226 6,453 15,640 4,500 2,322 1,977 179
Slide 44: Reconciliation of Net Profit to Adjusted Operating Income
RECONCILIATION OF NET PROFIT TO ADJUSTED OPERATING INCOME FY 2023 China and North Enlarged Middle East South India & € million America Europe & Africa America Asia Pacific Maserati Other (*) Stellantis Net Profit 18,625 Tax Expense 3,793 Net Financial Expenses/(Income) (42) Operating Income(1) 22,37
Slide 45: Reconciliation of Net Profit to Adjusted Operating Income
RECONCILIATION OF NET PROFIT TO ADJUSTED OPERATING INCOME H2 2023 China and North Enlarged Middle East South India & € million America Europe & Africa America Asia Pacific Maserati Other (*) Stellantis Net Profit 7,707 Tax Expense 1,101 Net Financial Expenses/(Income) 27 Operating Income(1) 8,835 Ad
Slide 46: Reconciliation of Net Profit to Adjusted Operating Income
RECONCILIATION OF NET PROFIT TO ADJUSTED OPERATING INCOME FY 2022 China and North Enlarged Middle East South India & € million America Europe & Africa America Asia Pacific Maserati Other (*) Stellantis Net Profit 16,779 Tax Expense 2,729 Net Financial Expenses 768 Operating Income(1) 20,276 Adjustme
Slide 47: Reconciliation of Net Profit to Adjusted Operating Income
RECONCILIATION OF NET PROFIT TO ADJUSTED OPERATING INCOME H2 2022 China and North Enlarged Middle East South India & € million America Europe & Africa America Asia Pacific Maserati Other (1) Stellantis Net Profit 8,819 Tax Expense 744 Net Financial Expenses 337 Operating Income(1) 9,900 Adjustments:
Slide 48: Reconciliation of Diluted EPS to Adjusted Diluted EPS
RECONCILIATION OF DILUTED EPS TO ADJUSTED DILUTED EPS € million, except as otherwise stated FY 2023 FY 2022 H1 2023 H1 2022 H2 2023 H2 2022 Net profit attributable to owners of the parent 18,596 16,799 10,923 7,960 7,673 8,839 Weighted average number of shares outstanding (000) 3,107,725 3,140,089 3
Slide 49: 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 H2 2023 H2 2022 FY 2023 FY 2022 Cash Flows from Operating Activities 9,092 10,116 22,485 19,959 Less: Operating Activities not Attributable to Industrial Activities (542) 82 (753) 211 Less: Capital Expendi
Slide 50: Reconciliation of Debt to Industrial Net Financial Position
RECONCILIATION OF DEBT TO INDUSTRIAL NET FINANCIAL POSITION € million Dec 31 2023 Jun 30 2023 Dec 31 2022 Debt (29,463) (29,467) (27,153) Current Financial Receivables from Jointly-Controlled Financial Services Companies 767 985 321 Derivative Financial Assets/(Liabilities), Net and Collateral Depos
Slide 51: Debt Maturity Schedule – Industrial Activities
DEBT MATURITY SCHEDULE – INDUSTRIAL ACTIVITIES € billion Outstanding Dec 31 2023 2024 2025 2026 2027 2028 Beyond 17.6 Capital Markets Debt 2.0 0.7 2.5 2.2 1.5 8.7 2.0 Bank Debt 0.9 1.0 0.0 0.0 0.0 0.0 0.3 Other Debt 0.2 0.1 0.0 0.0 0.0 0.0 2.1 Lease Liabilities 0.7 0.2 0.2 0.1 0.2 0.7 22.0 Total Ind
Slide 52: Research and Development Costs and Expenditures
RESEARCH AND DEVELOPMENT COSTS AND EXPENDITURES € million H2 2023 H2 2022 FY 2023 FY 2022 Research and Development Expenditures Expensed 1,669 1,628 3,300 3,233 Amortization of Capitalized Development Expenditures 1,105 958 2,193 1,889 Impairment and Write-off of Capitalized Development Expenditures
Slide 53: Stellantis
STELENANTIS CHRYSLER CITROEN i GR AES rg LEASYS reser