Renault Sa · EURONEXT:RNO
Renault Sa — Investor Day (2022)
80 slides from Renault Sa's investor day presentation, 2022
Slide 1: Renault Group Capital Market Day 2022
Renaull roup capri MARKET —- DAY2022.
Slide 2: Renaulution works | Now, Revolution | ESG at the core | Cash talks
Renaulution works 2 | Now,Revolution “ O3 | &SGatthecore Cash talks
Slide 3: Renault Group
Renault oO 1 Group
Slide 4: Resurrection, Renovation, Revolution
RESURRECTION Achieved ahead of schedule | l ® I RENOVATION Already secured REVOLUTION Time to accelerate RG
Slide 5: Resurrection is complete almost 1 year in advance
RESURRECTION is complete almost 3 years inadvance “ initial outlook 2022 2022 5 3 YEARS ALMOST 1YEAR Achievements IN ADVANCE IN ADVANCE 8-9% SINCE 2021 RG
Slide 6: Renovation already secured
RENOVATION already secured Stronger Right-sized 4 Most ambitious brands capacity line-up in 30 years 5 : ; Launches if 25 | between 2022 and 2026 fi @ 50% -].2m | Units capacity vs 2019! 9 ~100% Average plant utilization ratio! (ax) ~b0% C-segment BEV Renault Group has the potential to be anticyclic
Slide 7: Revolution: addressable profit pools 2022-2030
REVOLUTION Let’s talk now phase 3 5 addressable ; a ~220 “> ~~ Circular profit pools! & Economy €bn, 2022-2030 e gig Services 0 @ High-end ~110 GS. EV me & & Software ICE & hybrid fincl LCV) Sw = cm ICE & hybrid {inel. LCV) 2022 2030 Source: IHS, BCG (services), McKinsey (Software), Renault Group an
Slide 8: Going for the medals
Going for the medals Cm ICE & hybrid Scale ~5-7 years ICE Hydrogen Synth. Fuels EE: = EV & software Technology ~3-5 years Electrochemistry CarOS Semiconductor Y High-end Brand ~3-5 years Dynamic Performance Lightweight design J Pe Financing, energy & mobility Customer Lifecycle <2 years Banking Serv
Slide 9: Going for the medals
Going for the medals ICE & hybrid EV & software 4 _ a Key success Eee nes factor pec nology, High-end Brand Financing, energy & mobility 4 Customer Lifecycle Circular Economy A Access to materials & process technology RG
Slide 10: New rules for a new game
New rules for anew game 100+ years of success Anew environment, with different rules Growing demand... Vehicles sales (mu) 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010 2020 «. and mature technology Vv Vertical integration Scale & efficiency Source: OICA, US department of Transportation Statisti
Slide 11: Playing Horizontally
Playing Horizontally Focus on what matters... Strategic Pn Smart capital Best partners Asset-light focus Eiteceneee allocation selection by design .. to leverage each ecosystem's multiplying effect Reduce Share Become Push teams risks investments more agile to innovation RG
Slide 12: Now, Revolution
Renault oO 2 Group Now, Revolution
Slide 13: Organization drives value
Organization drives value AF ALPINE @ wosiuize The Future Is NEUTRAL @ ampere a RG in 2019 : “* RGRevolution .. Complex matrix organization . fa Focused businesses : ae oo ae cai, pce / 163m in2019 2. >€2bn per year on average 2023-2025 >€3bn per year on average 2026-2030 ~ ‘
Slide 14: Next Gen automotive company
Next Gen automotive company py. i ALPINE ©& The Future Is NEUTRAL
Slide 15: Accountability, Transparency, Empowerment
Accountability, Transparency, Empowerment: key words for Renault Group ry Ze 7é Wy Pe hg a Give strategic “ -\ Coordinate & scale orientation
Slide 16: Welcome to Management 4.0
Technology to make it simple: welcome to Management 4.0 Digital platforms developed & connected thanks to strategic partnerships DIGITAL TWIN Ay Dassault Google 4Manhattan BI rexion S> I CS = —— ee ne a > PHYSICAL WORLD =—L Accelerate : Spread SZ Break silos S Reduce costs = our decisions transparen
Slide 17: Power
R 2.1 | Beaute
Slide 18: ICE & hybrid are undergoing their Revolution
ICE & hybrid are undergoing their Revolution Efficient hybrid technology complements efficiently BEV _ 4 Worldwide Powertrain mix! (% ~ Pt 40-60 ICE& Hybrid 1. BEV: Battery Electric Vehicle; PC: Passenger Cars; LOV: Light C 200 Usage coverage Cost convergence Carbon efficiency RG
Slide 19: The Musketeers
The 4 Musketeers Light Commercial Vehicles (LCV) Revolution for Pros
Slide 20: Renault Group
Renault Group
Slide 21: HORSE project: scale
in HORSE project r of ICE & hybrid powertrain technologie From Day1 ae ah pe | Fes. Bese" = ss GEL ae : x inscale €15bn/ revenue 5m units/yr 3 customers 130 countries RG
Slide 22: HORSE project: scale matters
in HORSE project scale matters we, Wplants ze o/w 8 for Renault G S f 2 sxti<e Rp 4 : > ee jena 3 ze Se —-— 9k employees Cad —— Benes * Aglobal and fully integrated player RG
Slide 23: HORSE project: double market coverage
inn HORSE project owing to double market coverage a (a) Engine Gearbox OFFERING 5 ICE & HYBRID .UE CHAIN m —— xHEV systems Broad fuels compatibility, & batteries incl. future synthetic fuels Thanks to product complem Ce FF et Fung RG
Slide 24: HORSE project: decarbonization technology
HORSE project rave is the real thing Disruptive technology with up to 70% decarbonization po Step of the ) Component value chain Beelproviders suppliers Strategic Develop green H2 Establish technology focus & synthetic fuels leadership GEELy \\ =-TECH Pete eaTtelsll Q ) Under discussion Aw Technolog
Slide 25: Renault Group
Renault Group 1 ly uplifted Jim
Slide 26: Renault brand passenger cars
ENAULT BRAND PASSENGER CARS hstory ICE & hybrid Passenger Cars RG
Slide 27: Renault brand passenger cars
SNAULT BRAND PASSENGER CARS e\story cm) Passenger Cars \ RG
Slide 28: Dacia
(2.1 | Bese"
Slide 29: Dacia: a golden nugget
= DACIA A golden nugget Design-to-cost leveraging group assets Efficient soureing ecosystem Lean distribution model ) ) - Focus on the essentials + Lightweight cars + Solid double-digit cost advantage Benchmark cost competitiveness High plant utilization rate > 120%! >10% operating margin + Distribu
Slide 30: Dacia: 15% operating margin by 2030
= DACIA Dacia remains Dacia... only bolder: 15% operating margin by 2030 C-segment offensive 3 product launches in C-segment by 2030 —_—— « 3 Bigster ‘O-segment tobe ‘announced Profit pool coverage >x2 Smooth transition tC02/veh. lifetime vs 2019 (cradle-to-grave) -50% carbon footprint by 2035... El
Slide 31: LCV Business
LCV Business Revolution for the Pros
Slide 32: By experts for experts
By experts for experts 14% eo, | R&D center market share OF ~2,500 engineers in Europe ~1in5 Renault LCV Ki) 5) in European car park cn nts 600 Pro+ j= <5 years dealers line-up by 2026 ‘Lin Revenve, Europe, IHS 2022
Slide 33: The professional world is changing
The professional world is changing, us too New technologies EV, Ha, skateboard rapid tion
Slide 34: COHY VIA: complete hydrogen ecosystem
COHY VIA | Complete hydrogen ecosystem" 3-in-1" leading green H, mobility, Full hydrogen value chain coverage Step of the Paice analn ) maar ervolng Fuel cell Vehicle OEM Integration of green - Integrated eld ) energy, electrolyzer yechnology pvchicig business model ous & refueling station I) 9) (ve
Slide 35: The game changer: FLEXEVAN
The game changer: FLEXEVAN EV native Skateboard design for urban needs for modularity Go 6nLo: 6-0! Upgradeability 2026 -30% Total Cost of Usage FLEXIS Dedicated company project partnering with Tech & LCV champions
Slide 36: Ampere
ola OEM distu oti
Slide 37: Fully fledged OEM
Fully fledged OEM sed on EV and software » ineers (half on software) «& ADEDICATED aN COMPANY K FORA NEW ENVIRONMENT hnology backbone 4 och inufacturing, > je chain, SDV Agile model with ~10,000 employees leveraging Renault Group for scale Relentless focus on growth A unique tech culture to attract
Slide 38: Ampere volume ramp-up
© AMPERE | ig the grow ——_{ AMPERE VOLUME RAMP-UP ) >30% \ 2022-2030 CAGR Tmillion vehicles in 2031 2023 2027 2031 80% EV profit pool coverage! # of active models 1 nd & 2/: 3 m7 6 4) vehicles in C-segment C-segment ae awe) als a g) : 80% B-segment 7) mrs (0 eel investments made onthe first 4 vehicl
Slide 39: The best of both
The best of both ( LEGACY OEMs y-<ev PURE PLAYERS > Ht AMPERE )— Owner of 3 key technology backbones: software, EV, and manufacturing x Established brand Ready toscale (ElectriCity, Mobilize Financial Services, dealers network, aftersales) x Focused and lean operations x High-growth story x Robust ®
Slide 40: Ampere: three tech backbones
AMPERE fith substance High-tech manufacturing Techbackbone #1 Tech backbone #2 EV value chain Tech backbone #3 Software-Defined Vehicle
Slide 41: A top-competitive industrial footprint in France
Atop-competitive industrial footprint in Fran ElectriCity =“ Tech back ne # a + Total manufacturing + logistic cost as competitive as Eastern Europe * Unique ecosystem + Suppliers (incl. batteries): 80% <300km + Customers: 2/3 European market <1,000km + Scalability: ~620ku per year in 2028, scalable
Slide 42: Extensive coverage of the EV value chain
Extensive coverage of the EV value chain & competitiveness Techba @) OVER 80 GWH BATTERY NEEDS IN 2030 80% COVERAGE BY 2030 Step of the ) . eatery a eMotor Power value chain Recycled Rew PCAM/ Cell& module Casing, BMS2, © Reduce Waibec ieuiag materials mat CAM! Production Assembly cet Competitivenes
Slide 43: From Mobile to Auto
From Mobile to Auto SMARTPHONE . FORAUTOMOTIVE \, 0... BUSINESS MODEL... SOFTWARE La | aa App Store \ E y \ Openapp Operating sp) system y MOBILE PLATFOR INTEGRATI( SDV INTEGRATI i ( caros SS yoN Hardware | ) | ) Hardware y ww \ y ecosystem a 2> Open to 34 party app developers One integrator bringin
Slide 44: Google, Qualcomm, Renault partnership
© AMPERE gle, Qualcomm, Renault: what els PQ AUNIQUE PARTNERSHIP WITH THREE LEADERS Tech baokbaneenn Gait IN THEIR AREAS OF EXPERTISE Sd? 4 fr Auto Step of the ) Computing Operating Sarciogroriontad End-to-end Cloud value chain platform System Barua el applications platform | Next Gen SDV platform F
Slide 45: In Code we trust
In Code we trus ant CENTRALIZED ARCHITECTURE TO CONTAIN COSTS WHILE DELIVERING MORE VALUABLE CARS » Tech ba Softwore spending forecast! (100-base in 2021) 250 150 2022 2024 2026 Traditional approach -25% SDV appro: 2028 2030 > €1.5bn! R&D cost avoidance over the next decade More valuable cars +2pts
Slide 46: Alpine: Light is right
"@) ofl Renault Group Alpine i Lightisright |
Slide 47: Alpine
24 ALPINE Heritage, sport Racing heritage ‘and DNA )) Top notch =) engineering Selected distribution Distinctive manufacturing
Slide 48: Alpine F1 creates value
+4 ALPINE tion creates value #1& still growing New & optimized Distinctive motorsport media platform franchise economic model Alpine's capabilities Cumulative TV audience (2021) Media revenue expected Champion titles, 170+ victories to keep growing in 40+ years YoY growth of global audience Sponsori
Slide 49: Alpine: Our opportunity
+4 ALPINE Our opportuni
Slide 50: Alpine: light is right
24 ALPINE ghtis right Superior asset-light model to achieve fast line-up & geographical expansion Step of the ; : valueohoin Battery & electronics Platform Sports dynamics Manufacturing Strategic High performance Platform Driving Scalability & focus chemistry supply sportiness experience customizati
Slide 51: Beyond automotive
nd automotive
Slide 52: Banking on mobility
© MOBILIZE Banking on mobility €3bn ~50% +53 4m M Cg =} | L l Z E Penetration Net promoter pb SERVICES Revenue rate score Customers af g dal 7 MSBILIZE ENERGY MOBILITY SOFTWARE BEYOND AUTOMOTIVE SERVICES SERVICES ECOSYSTEM Mobilize is fully empowered to grow faster thanks to strong assets Data prese
Slide 53: VaaS, where V stands for Value
© MOBILIZE Vaas, where V stands for Value mourners (<)>) mana (€ ) cit (€ ) LEM SNe () (=) fk MANAGEMENT @E ERGY (i) Satie MAINTENANCE bad REPAIR inanced & RECONDITIONING by 2030 — as-a-Service a PURPOSE DESIGNED VEHICLES po = yy ny en le rgd edt OEM TECH eroup 1S: 3 pillars of Mobilize
Slide 54: Nobody covers this value chain like Mobilize
© MOBILIZE Nobody covers this value chain like Mobilize Step ofthe value chain Strategic focus Mobilize coverage Competition Potential partnerships 1. Total Cost of Usage Purpose-designed Software Bank h Distribution Reconditioning vehicles ecosystem . ae an as = er Technology, Financial , engineers
Slide 55: Mobilize is moving
® MO BILIZE Mobilize is moving FINANCIAL mn ENERGY € % MOBILITY SERVICES _|¥ SERVICES 2 SERVICES : = Mobilize Visa card re + Mobilize Fast Charge + Launched FR - a) Already 10k cards in use = Creation of Mobilize Insurance = Carsubscription in7 key markets © 200 stations in 2024, leveraging RG deale
Slide 56: The Future Is NEUTRAL
Slide 57: The Future Is NEUTRAL is for ALL
The Future Is NEUTRALis for ALL = Closed-loop recycling solutions © at each stage of a vehicle's life for all car makers, suppliers, professionals & individuals @) Ss ) 8 wy _A i, Production = > Usage — End-of-life = Increase vehicle Provide affordable Dispose old vehicles recycled content rate & ec
Slide 58: Circular economy solutions throughout the car's lifecycle
Circular economy solutions throughout the car's lifecycle From ~50% value chain coverage today to >90% by 2030 Supply Production Usage End-of-life Step of the . a2 a. a» value chain Closed-loop Production Parts. Vehicle life Vehicle Battery Battery materials scrap remanufacturing extension recycling
Slide 59: ESG at the core
ESG atthecore
Slide 60: Focused businesses with embedded ESG targets
Focused businesses with embedded ESG targets Secure sustainable value chains and prepare for a carbon neutral and inclusive future The Future Power Is NEUTRAL ms 4 - Affordable - Car-to-car parts mobility & materials -Upto-70%CO2 : ; emissions per i vehicle by 2030
Slide 61: Leading the organization towards carbon neutrality
Leading the organization towards carbon neutrality CO2 emission in tCO2/ vehicle (cradle-to-grave emissions)! RENAULT GROUP RENAULT GROUP EUROPE WORLDWIDE CO2-NEUTRAL CO2-NEUTRAL Oo in2050 1. Assumption: 150,000 km lifetime. 2.0026/kg material
Slide 62: Turning climate actions into a performance lever
..While turning climate actions into a performance lever ght energy coveray Efficiency leading tc 1.In Renault Group's reference industrial ecosystem only (Northern Franes, Romanic) Spain, Turkey; Miorooeo)ls
Slide 63: Already ahead on Circular Economy
Already ahead on Circular Economy In our Mobilize business
Slide 64: ReKnow University: to be fair
ReKnow University: to be fair —. ion Sector-wide reskilling & upskilling é Academics universite poressaer pea! 3 academies for future automotive skills Valeo 7“ A F O University g .__| Industrials THALES: In 2022— 7,800 already
Slide 65: ESG outlook 2025-2030
ESG outlook 2025 - 2030 Gah People & Safety BT Environment + 0% gender pay gap by 2025 + Ambition to reduce the carbon| per kilogram of + Training 15,000 employees in the Group's new businesses through ReKnow University by * Achieve atarget of 50% women i Top 4,000/Top 11,000 by 2050 35% by 2035)
Slide 66: Cash talks
O4 | Beep" — — AAA NOW’: Cash talks
Slide 67: A simpler and more transparent organization
A simpler & more transparent organization 5 clear P&L to foster accountability, transparency & performance both internally and externally The Future AMPERE Alpine Mobilize Is NEUTRAL —_——_——————— EE) ! EVand | THE FUTURE Software Af Meee = | NEUTRAL © ee Reporting as of H2 2023 Reporting as of 2024
Slide 68: No way back, only fast forward
No way back, only fast forward Value over volume Competitiveness Capital efficiency Net pricing Cash fixed costs R&D Capex © +24pts 2) >-€2| : n © capped at 8-9% Retail channel Breakeven point Renault Retail Group © 70% CO) >-40% © divestment €530m PRODUCT VARIABLE COSTS, ECOSYSTEM OFFENSIVE SUPPLIE
Slide 69: Partnerships will fuel the Revolution
Partnerships will fuel the Revolution JNag. is self-financed ly Free cash-flow generation @ + 2023-2025: >€2bn/ year on average + 2026-2030: >€3bn/ year on average Accelerated by partnerships & external fundings 4 g a8) ce Capture growth Access businesses Accelerate innovation Optimize costs opportu
Slide 70: Managing the energy transition financially
Managing the energy transition financially ERE “te HORSE project
Slide 71: Ampere: low cash-burn and external funding
AMPERE Low cash-burn & external funding Limited cash burn Potential strategic Alliance scale: Envisaged IPO, H2 2023 and FCF > 0in 2025 cornerstone investors equity participation at the earliest’ (including Qualcomm) under study Renault Group keeping strong majority Envisaged IPO IPO process Timelin
Slide 72: Financially optimizing the ICE & hybrid powertrain future
ing HORSE project Financially optimizing the ICE & hybrid powertrain future HORSE project Worldwide supplier in ICE & hybrid powertrain technologies 50% Group" 50% GEELY SELLS iv) THIRD PARTIES: >) SUPPLIES © PCICE & hybrid BAcin 4 3 Mi Carve-out impact from H2 2023 ¢ €2.5bn fixed assets reduction *
Slide 73: Expanding our horizons
Expanding our horizons Partnerships THE FUTURE Software-Defined % benefits NEUTRAL Vehicle Bloat) yah Capture growth opportunities Access businesses with margin above traditional auto Accelerate innovation & time-to-market Optimize costs & capital requirements
Slide 74: Financial outlook per business
Financial outlook per business: profit & cash are king Weeeeee< The Future cow Power Ampere Alpine Mobilize Is NEUTRAL pp kIT Cee tt~—S Cash-flow Profitable growth Internationally Recurring services " Sustainable generation & innovation with growing high-end revenue with _ &profitable growth low exe
Slide 75: Financial outlook: new heights
Financial outlook: new heights! a viteeEtl n/\\ Operating margin Free cash-flow >€3bn peryear onaverage i >€2bn peryear onaverage 2022 2023-2025 2026-2030 . R&D/ Capex < 8% of revenue over the period + Mobilize Financial Services dividend >€500m p.a on average {eubject to regulatory and mFS board ap
Slide 76: Reinstating the dividend
Reinstating the dividend A gradual and disciplined evolution of the dividend payout ratio moving forward w FY 2022 dividend pending Shareholders’ General Meeting approval RETURN TO INVESTMENT GRADE DIVIDEND POLICY Progressive ramp-up to 35% PAYOUT RATIO on Group consolidated net income parent share
Slide 77: Implementing a balanced capital allocation policy
Implementing a balanced capital allocation policy Guiding principles Adisciplined capital allocation structure @ Priority to return toinvestment grade Dividend policy (starting in 2023): progressive ramp-up to 35% payout ratio on Group consolidated net .\income- parent share Financial investment rep
Slide 78: Now, Financial Revolution
Now, Financial Revolution Return to stakeholders Balanced capital allocation, clear dividend policy, broader employee shareholding Accelerated performance Smart partnerships, external funding, Alliance scale Continued financial discipline Not going back, taking the non-negotiables to the next level
Slide 79: Disclaimer
Renault Group Disclaimer Certain information included in this presentation are not historical facts but are forward-looking statements. These forward-looking statements are based on current beliefs, expectations and assumptions, including, without limitation, assumptions regarding present and future
Slide 80: Slide 80