Stellantis N.v. · EURONEXT:STLAP
Stellantis — Investor Day (2026)
25 slides from Stellantis's investor day presentation, 2026
Slide 1: Safe Harbor Statement
SAFE HARBOR STATEMENT This document contains forward looking statements. In particular, statements regarding future financial performance and the Company’s expectations as to the achievement of certain targeted metrics, including but not limited to net revenues, industrial free cash flows, adjusted
Slide 2: Financial Overview
FINANCIAL OVERVIEW JOAO LARANJO CFO
Slide 3: Key Financial Priorities
KEY FINANCIAL PRIORITIES RESTORE REVENUE GROWTH 1 Increase market coverage and sharpen local execution to grow Net revenues by more than 20% by 2030 DELIVER STRUCTURAL COST REDUCTION 2 Execute the Value Creation Program to deliver €6B annual run-rate of cost reductions by 2028 SCALE FINANCIAL SERVIC
Slide 4: Path to Financial Targets
PAT H TO 2 0 3 0 F I N A N C I A L TA R G E T S €190B ADJUSTED 7% €175B OPERATING NET 5% €154B INCOME REVENUES MARGIN (0.5)% 2025 2028 2030 2025 2028 2030 €6B+ €6B €6B VALUE €3B INDUSTRIAL CREATION FREE CASH €(4.5)B PROGRAM FLOW NA (Annual cost reduction vs. 2025 2028 2030 2025 baseline) 2025 2028 2
Slide 5: 2026 Starts on Track
2 0 2 6 S TA RT S O N T R A C K 2026 Q1 ’26 ON GUIDANCE ACTUAL TRACK Mid-single-digit NET REVENUES +6% YoY increase ADJUSTED OPERATING Low-single-digit INCOME MARGIN 2.5% margin INDUSTRIAL Year-over-year €1.1B YoY FREE CASH FLOW improvement improvement 5
Slide 6: 2028 AOI Margin Bridge
2028 AOI MARGIN BRIDGE Top-line Growth Drivers: 2.1% 5.0% -1.4% 0.5% -0.6% Higher market Favorable market Disciplined VCP savings & Fully driven by raw Higher Targeted coverage and mix offset by pricing and higher plant material inflation; penetration & growth spending sharper local higher LEV produ
Slide 7: Path to Positive IFCF in 2028
PAT H TO P O S I T I V E I F C F I N 2 0 2 7 A N D € 3 B BY 2 0 2 8 2025-2027 2027-2028 AOI Working Investment Charges AOI Capital AOI improvement Volume growth Higher investment Payments related Further AOI from volume drives working to support to H2’25 charges improvement, growth and VCP capital t
Slide 8: Profitable Growth Across Regions
P RO F I TA B L E G ROW T H A C RO S S R E G I O N S REVENUE 2030 AOI KEY DRIVERS GROWTH MARGIN (2025-2030) • Deploy more than €60B of investment to support renewal, market coverage, NORTH AMERICA 25% 8-10% and growth ENLARGED EUROPE 15% 3-5% • Accelerate growth through selective partnerships while
Slide 9: €6B Value Creation Program Savings
€ 6 B VA LU E C R E AT I O N P RO G R A M S AV I N G S ENTERPRISE-WIDE VALUE CAPTURE Improve cost competitiveness TS M Reduce manufacturing costs (i.e., EN FAC A through benchmark-based sourcing, N T hours per vehicle (HPV), rework, scrap N RIN PO product teardowns, and indirect material consumption
Slide 10: Smart Capital Allocation
S M A RT C A P I TA L A L LO C AT I O N €60B+ INVESTMENT TO DRIVE PROFITABLE GROWTH • Fund profitable growth 40% Invest €60B+ to support 60+ new launches GLOBAL • Leverage partnerships PLATFORMS & Deliver 13 of 60+ launches with key TECHNOLOGIES partners to improve capital efficiency €60B+ • Priorit
Slide 11: Strong Liquidity and Financial Flexibility
STRONG LIQUIDITY AND FINANCIAL FLEXIBILITY INDUSTRIAL NET CASH BRIDGE PRESERVE A STRONG, €15B+ INVESTMENT-GRADE ~7% of Issued BALANCE SHEET Net revenues in 2026 • Supported by positive Industrial Free Cash Flow from 2027 €6.7B • Dividend policy maintained; target 25-30% dividend payout if liquidity
Slide 12: Financial Resilience Pillars
FINANCIAL RESILIENCE PILLARS DIVERSIFIED GLOBAL REVENUE BASE CAPITAL-LIGHT PARTNERSHIPS IMPROVED INDUSTRIAL UTILIZATION TECHNOLOGY FLEXIBILITY ACROSS REGULATIONS COST-EFFICIENT GLOBAL PLATFORMS GROWING FINANCIAL SERVICES EARNINGS DISCIPLINED CAPITAL DEPLOYMENT STRONG LIQUIDITY AND OPTIONALITY 12
Slide 13: FaSTLAne Financial Targets
FA S T L A N E 2 0 2 6 - 2 0 3 0 F I N A N C I A L TA RG E T S 2025 2026 2028 2030 Actual Guidance Target Target Mid - Single - Digit Net Revenues €154B €175B €190B Increase Adjusted Operating Low - Single - Digit Income Margin (0.5)% 5% 7% Margin Improved YoY; Industrial Free Cash Flow €(4.5)B €3B
Slide 14: Appendix
APPENDIX 15
Slide 15: Definitions and Notes
DEFINITIONS AND NOTES For purposes of this presentation, and unless otherwise stated: NA = North America, US = United States, EE = Enlarged Europe, SA = South America, MEA = Middle East & Africa and APAC = Asia Pacific EU30 = EU 27 (excluding Malta), Iceland, Norway, Switzerland and UK LEV = Low emi
Slide 16: Business Plan Main Assumptions
BUSINESS PLAN MAIN ASSUMPTIONS 2025 | 2030 HIGHLIGHTS INDUSTRY North America 20.0 20.0 • Industry assumptions are largely aligned with S&P, excluding banned countries: EE excludes Enlarged Europe (EU 29) 15.1 15.5 Belarus and Russia; SA excludes Cuba; MEA excludes Syria, Iran and Sudan. Effective Ja
Slide 17: Non-GAAP Financial Measures (1 of 2)
NON-GAAP FINANCIAL MEASURES (1 OF 2) 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 18: Non-GAAP Financial Measures (2 of 2)
NON-GAAP FINANCIAL MEASURES (2 OF 2) • Combined shipments include shipments by the Company's consolidated subsidiaries and unconsolidated joint ventures, whereas Consolidated shipments only include shipments by the Company's consolidated subsidiaries. This includes the vehicles produced by our joint
Slide 19: Reconciliation of Net Profit to Adjusted Operating Income - FY '25
RECONCILIATION OF NET PROFIT TO ADJUSTED OPERATING INCOME - FY ’25 FY 2025 China and Enlarged Middle East & India & € million North America Europe Africa South America Asia Pacific Maserati Other (*) Stellantis Net Profit (22,332) Tax Expense (4,273) Net Financial Expenses/(Income) 351 Adjustments:
Slide 20: Reconciliation of Operating Cash Flows to Industrial Free Cash Flows
RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES TO INDUSTRIAL FREE CASH FLOWS € million FY 2025 FY 2024 Cash Flows from Operating Activities(1) (4,650) 1,535 Less: Financial Services, Net of Inter-Segment Eliminations (9,700) (5,209) Less: Capital Expenditures and Capitalized R&D Expenditures
Slide 21: Industrial Available Liquidity
INDUSTRIAL AVAILABILITY LIQUIDITY Industrial Available Liquidity € billion Outstanding Dec 31 2025 Group Industrial Activities Financial Services Cash, Cash Equivalents and Financial Securities 31.5 29.3 2.2 Undrawn Committed Credit Lines 18.3 16.4 1.9 Total Industrial Available Liquidity 49.8 45.7
Slide 22: Reconciliation of Debt to Industrial Net Financial Position
RECONCILIATION OF DEBT TO INDUSTRIAL NET FINANCIAL POSITION € million At March 31, 2026 At December 31, 2025 Debt (47,919) (45,947) Current Financial Receivables from Jointly-Controlled Financial Services Companies 870 603 Derivative Financial Assets/(Liabilities), Net and Collateral Deposits 127 18
Slide 23: Reconciliation of Net Profit to Adjusted Operating Income - Q1 '26
RECONCILIATION OF NET PROFIT TO ADJUSTED OPERATING INCOME - Q1 ’26 Enlarged Middle East & North America South America Asia Pacific Other* Stellantis Europe Africa € million Net revenues from external customers 16,114 14,374 2,387 3,583 435 1,239 38,132 Net revenues from transactions with other - 1 1
Slide 24: Reconciliation of Operating Cash Flows to Industrial Free Cash Flows
RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES TO INDUSTRIAL FREE CASH FLOWS € million Q1 2026 Q1 2025 Cash Flows from Operating Activities (2,718) (2,846) Less: Financial Services, Net of Inter-Segment Eliminations (2,493) (2,341) Less: Capital Expenditures and Capitalized R&D Expenditures
Slide 25: Industrial Available Liquidity
INDUSTRIAL AVAILABILITY LIQUIDITY Industrial Available Liquidity € billion Outstanding Mar 31 2026 Group Industrial Activities Financial Services Cash, Cash Equivalents and Financial Securities 32.8 30.3 2.5 Undrawn Committed Credit Lines 15.5 13.8 1.6 Total Industrial Available Liquidity 48.3 44.1