Stellantis N.v. · MIL:STLAM
Stellantis — Q3 2026 Earnings Presentation
40 slides from Stellantis's earnings presentation, Oct 28, 2026
Slide 1: Q3 2026 Results
Q3 2026 RESULTS Jeep® Wrangler Switchback
Slide 2: Agenda
AGENDA CEO Update................................................ Page 4 Financial Review....................................... Page 10 2026 Guidance........................................... Page 16 Maserati Day......................................... Page 18 Appendix............................
Slide 3: Safe Harbor Statement
SAFE HARBOR STATEMENT This document, in particular references to “FY 2026 Financial Guidance”, 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 revenues, i
Slide 4: CEO Update
Peugeot E-208 GTI CEO UPDATE 4
Slide 5: Q3 2026 Executive Summary
CEO UPDATE Q3 2026 EXECUTIVE SUMMARY Key Financial Metrics North America Enlarged Europe • Net Revenues of €37.6B, up 1% y-o-y • AOI improvement of €0.5B y-o-y, driven by strong • Enlarged Europe delivered improved shipments, up • AOI of €0.3B, with 0.7% margin, +50 bps y-o-y cost savings, including
Slide 6: 2026 Product Launch Momentum Continues
2026 PRODUCT LAUNCH MOMENTUM CONTINUES Chrysler Pacifica Opel/Vauxhall Astra Jeep® Avenger Peugeot 408 Maserati Grecale Maserati GT/GC Ram 1500 Rumble Bee Ram ProMaster City Fiat Grizzly Fastback Fiat Grizzly Jeep® Grand Wagoneer REV Lancia Gamma Pro One Smart Van 6
Slide 7: North America Update - Q3 2026
CEO UPDATE NORTH AMERICA UPDATE - Q3 2026 Ram 1500 RHO Q3 Highlights Key Growth Levers • Delivered 1% sales growth y-o-y, with Ram being the fastest • Ram Rumble Bee 5.7L HEMI® V8 arrives in dealerships in Q4 '26 growing brand in NA for both Q3 '26 and YTD, based on y-o-y • Jeep expands portfolio wi
Slide 8: Enlarged Europe Update - Q3 2026
CEO UPDATE ENLARGED EUROPE UPDATE - Q3 2026 Opel/Vauxhall Frontera Q3 Highlights Key Growth Levers • EU 30 Sales increased 1% (+6% incl. LPM) y-o-y, primarily driven by • LCV lineup expands with the Pro One Smart Compact Van, while C-SUV Smart Car and growing BEV demand in France, Germany, and UK po
Slide 9: Other Regional Updates - Q3 2026
CEO UPDATE OTHER REGIONAL UPDATES - Q3 2026 Fiat Strada Peugeot 308 Fiat Grande Panda SOUTH MIDDLE EAST ASIA AMERICA & AFRICA PACIFIC • Sales declined 4% (-2% incl. LPM) y-o-y, • Market share of 10.1% (10.2% incl. LPM), • Sales declined 27% (22% incl. LPM), maintaining a strong position in a challen
Slide 10: Financial Review
Ram ProMaster City FINANCIAL REVIEW 10
Slide 11: Q3 2026 Financial Performance Overview
FINANCIAL REVIEW Q3 2026 FINANCIAL PERFORMANCE OVERVIEW SHIPMENTS NET AOI* AOI ADJUSTED INDUSTRIAL (CONSOLIDATED) REVENUES MARGIN* DILUTED EPS* FCF* 1.3M €37.6B €0.3B 0.7% -€0.01 -€4.0B -1% +1% +184% +50 bps +75% +€0.3B FULL YEAR GUIDANCE REAFFIRMED * Refer to Appendix for definitions of supplementa
Slide 12: Q3 2026 Adjusted Operating Income
FINANCIAL REVIEW Q3 2026 ADJUSTED OPERATING INCOME* Q3 '26 VS Q3 '25 VOLUME & MIX VEHICLE NET PRICE INDUSTRIAL COSTS Stable volume y-o-y, with unfavorable North America pricing was positive y-o-y, Improved y-o-y, due to cost saving actions, regional mix from lower North America offset by continued p
Slide 13: Industrial AOI to IFCF Walk
FINANCIAL REVIEW INDUSTRIAL AOI TO IFCF WALK* Q3 '26 VS Q3 '25 INDUSTRIAL FREE CASH FLOWS CAPITAL EXPENDITURES WORKING CAPITAL Improvement of €0.3B y-o-y, driven by slightly Reduction of €0.5B y-o-y, reflecting timing of Flat y-o-y due to stable shipments higher AOI and disciplined capital allocatio
Slide 14: Inventory Update
FINANCIAL REVIEW INVENTORY UPDATE Company Independent dealers • Total inventory* increased 14% y-o-y and 12% vs. Dec '25 (000 units) 1,278* • Company inventory increased 8% y-o-y and 35% vs. Dec '25, of which the vast majority of increase was driven by EE, with higher in-transit 1,444 1,425 1,338 LP
Slide 15: Q3 2026 Regional Performance
FINANCIAL REVIEW Q3 2026 REGIONAL PERFORMANCE NORTH AMERICA ENLARGED EUROPE Shipments 357K (12)% Shipments 588K +10% Net Revenues €15,586M (3)% Net Revenues €14,062M +3% AOI €64M n.m. AOI €(311)M n.m. AOI Margin 0.4% 340 bps AOI Margin (2.2)% (340) bps STLA Market Share 7.5% +10 bps EU30 Market Shar
Slide 16: 2026 Financial Guidance Reaffirmed
FINANCIAL REVIEW 2026 FINANCIAL GUIDANCE REAFFIRMED Net Revenues: • Expected increase driven by an expanded product portfolio and anticipated volume recovery AOI Considerations: Net Revenues Mid-Single Digit % Increase • Continued focus on mitigating geopolitical, trade, inflationary, and commodity
Slide 17: Key Group Metrics
FINANCIAL REVIEW KEY GROUP METRICS € million Q3 2026 Q3 2025 Δ% YTD 2026 YTD 2025 Δ% Combined Shipments(1) (000 units) 1,308 1,334 (2)% 4,276 4,024 6% Consolidated Shipments(1) (000 units) 1,286 1,300 (1)% 4,244 3,964 7% Net Revenues 37,611 37,206 1% 119,225 111,467 7% Operating Income/(Loss) (331)
Slide 18: Maserati Day
Maserati Granturismo 18
Slide 19: Appendix
APPENDIX Paris Motor Show 2026 19
Slide 20: Definitions and Notes
DEFINITIONS AND NOTES For purposes of this presentation, and unless otherwise stated: NA = North America, U.S. = 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 Regions = r
Slide 21: 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 22: Non-GAAP Financial Measures (2 of 2)
NON-GAAP FINANCIAL MEASURES (2 OF 2) • Consolidated Shipments includes the vehicles produced by our joint ventures and associates (including Leapmotor) which are distributed by our consolidated subsidiaries. In addition to the volumes included in Consolidated shipments, Combined shipments also inclu
Slide 23: Q3 2026 Key Commercial Metrics
Q3 2026 KEY COMMERCIAL METRICS 000 units STLA Combined Sales STLA Market Share STLA + LPM Combined Sales* STLA + LPM Market Share* Q3 '26 Q3 '25 Δ% Q3 '26 Q3 '25 Δ Q3 '26 Q3 '25 Δ% Q3 '26 Q3 '25 Δ North America 379 375 +1% 7.5% 7.4% +10 bps 380 375 +1% 7.5% 7.4% +10 bps Enlarged Europe 564 566 0% 14
Slide 24: Sept YTD 2026 Key Commercial Metrics
SEPT YTD 2026 KEY COMMERCIAL METRICS 000 units STLA Combined Sales STLA Market Share STLA + LPM Combined Sales* STLA + LPM Market Share* YTD '26 YTD '25 Δ% YTD '26 YTD '25 Δ YTD '26 YTD '25 Δ% YTD '26 YTD '25 Δ North America 1,126 1,080 +4% 7.6% 7.2% +40 bps 1,127 1,080 +4% 7.6% 7.2% +40 bps Enlarge
Slide 25: Q3 2026 Regional Results
Q3 2026 REGIONAL RESULTS NORTH AMERICA ENLARGED EUROPE (000 units) (€ billion) (000 units) (€ billion) Shipments Net Revenues Shipments Net Revenues 357 404 15.6 16.1 14.1 13.6 588 534 Q3 '26 Q3 '25 Q3 '26 Q3 '25 Q3 '26 Q3 '25 Q3 '26 Q3 '25 € million % = Adjusted Operating Income Margin Adjusted Ope
Slide 26: Q3 2026 Regional Results
Q3 2026 REGIONAL RESULTS MIDDLE EAST & AFRICA SOUTH AMERICA ASIA PACIFIC (000 units) (€ billion) (000 units) (€ billion) (000 units) (€ million) Shipments Net Revenues Shipments Net Revenues Shipments Net Revenues Consolidated JV Consolidated JV 445 476 4.1 4.0 251 252 16 16 128 2.1 1 — 1.7 16 95 33
Slide 27: Sept YTD 2026 Regional Results
SEPT YTD 2026 REGIONAL RESULTS NORTH AMERICA ENLARGED EUROPE (000 units) (€ billion) (000 units) (€ billion) Shipments Net Revenues Shipments Net Revenues 44.9 44.2 1,181 1,052 49.9 44.4 1,987 1,825 YTD '26 YTD '25 YTD '26 YTD '25 YTD '26 YTD '25 YTD '26 YTD '25 € million Adjusted Operating Income €
Slide 28: Sept YTD 2026 Regional Results
SEPT YTD 2026 REGIONAL RESULTS MIDDLE EAST & AFRICA SOUTH AMERICA ASIA PACIFIC (000 units) (€ billion) (000 units) (€ billion) (000 units) (€ billion) Shipments Net Revenues Shipments Net Revenues Shipments Net Revenues Consolidated JV Consolidated JV 7.0 723 723 47 1.4 1.5 6.6 12.1 11.8 45 379 1 —
Slide 29: Reconciliation of Net Profit to Adjusted Operating Income - Q3 '26
RECONCILIATION OF NET PROFIT TO ADJUSTED OPERATING INCOME - Q3 '26 North America Enlarged Europe Middle East & Africa South America Asia Pacific Other* Stellantis € million Net revenues from external customers 15,570 14,062 1,673 4,088 445 1,773 37,611 Net revenues from transactions with other segme
Slide 30: Reconciliation of Net Profit to Adjusted Operating Income - Sept YTD '26
RECONCILIATION OF NET PROFIT TO ADJUSTED OPERATING INCOME - SEPT YTD '26 North America Enlarged Europe Middle East & Africa South America Asia Pacific Other* Stellantis € million Net revenues from external customers 49,877 44,859 6,626 11,965 1,379 4,519 119,225 Net revenues from transactions with o
Slide 31: Reconciliation of Net Profit to Adjusted Operating Income - Q3 '25
RECONCILIATION OF NET PROFIT TO ADJUSTED OPERATING INCOME - Q3 '25 North America Enlarged Europe Middle East & Africa South America Asia Pacific Other* Stellantis € million Net revenues from external customers 16,079 13,622 2,053 3,927 476 1,049 37,206 Net revenues from transactions with other segme
Slide 32: Reconciliation of Net Profit to Adjusted Operating Income - Sept YTD '25
RECONCILIATION OF NET PROFIT TO ADJUSTED OPERATING INCOME - SEPT YTD '25 North America Enlarged Europe Middle East & Africa South America Asia Pacific Other* Stellantis € million Net revenues from external customers 44,382 44,177 7,009 11,625 1,482 2,792 111,467 Net revenues from transactions with o
Slide 33: Reconciliation of Diluted EPS to Adjusted Diluted EPS
RECONCILIATION OF DILUTED EPS TO ADJUSTED DILUTED EPS SEPT SEPT € million, unless otherwise stated Q3 '26 Q3 '25 YTD '26 YTD '25 Net profit/(loss) attributable to owners of the parent (470) (4,542) 186 (6,782) Coupon and tax impacts on Hybrid perpetual notes(1) (65) — (129) — Weighted average number
Slide 34: Reconciliation of Cash Flows from Operating Activities to Industrial Free Cash Flows
RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES TO INDUSTRIAL FREE CASH FLOWS SEPT SEPT € million Q3 '26 Q3 '25 YTD '26 YTD '25 Cash Flows from/(used in) Operating Activities (3,930) (4,551) (6,817) (6,838) Less: Financial Services, Net of Inter-Segment Eliminations (1,733) (2,549) (7,177) (6
Slide 35: Reconciliation of Debt to Industrial Net Financial Position
RECONCILIATION OF DEBT TO INDUSTRIAL NET FINANCIAL POSITION € million At September 30, 2026 At December 30, 2025 Debt with third parties (excluding held for sale) (55,999) (45,947) Current Financial Receivables from Jointly-Controlled Financial Services Companies 799 603 Derivative Financial Assets/
Slide 36: Debt Maturity Schedule - Industrial Activities
DEBT MATURITY SCHEDULE - INDUSTRIAL ACTIVITIES Outstanding September 30 2026 2026 2027 2028 2029 2030 Beyond (€ billion) 22.0 Capital Markets Debt — 2.2 2.7 1.9 2.7 12.7 0.6 Bank Debt 0.3 0.1 0.1 — — 0.1 0.3 Other Debt 0.1 — 0.1 — — — 2.6 Lease Liabilities 0.4 0.7 0.3 0.2 0.2 0.9 25.6 Total Industri
Slide 37: Available Liquidity
AVAILABLE LIQUIDITY Outstanding September 30 2026 (€ billion) Group Industrial Activities Financial Services Cash, Cash Equivalents and Financial Securities 32.7 30.4 2.3 Undrawn Committed Credit Lines 13.8 12.3 1.5 Total Available Liquidity 46.5 42.7 3.8 Figures may not add due to rounding 37
Slide 38: Research and Development Costs and Expenditures
RESEARCH AND DEVELOPMENT COSTS AND EXPENDITURES € million SEPT YTD SEPT YTD Q3 2026 Q3 2025 2026 2025 Research and Development Expenditures Expensed 822 590 2,491 2,001 Amortization of Capitalized Development Expenditures 467 521 1,390 1,609 Impairment and Write-off of Capitalized Development Expend
Slide 39: Impact of Capital Expenditures on Industrial Free Cash Flows
IMPACT OF CAPITAL EXPENDITURES ON INDUSTRIAL FREE CASH FLOWS € million SEPT YTD SEPT YTD 2026 2025 Capital Expenditures and Capitalized Research & Development Expenditures and Change in Amount Payable on Property, Plant and Equipment and 4,811 7,009 Intangible Assets for Industrial Activities Contri
Slide 40: STELEANTIS ——
STELEANTIS ——