General Motors Company · NYSE:GM
General Motors — Debt Investor Presentation (September 2018)
18 slides from General Motors's debt investor presentation, Sep 5, 2018
Slide 1: Fixed Income Investor Presentation September 2018
Exhibit 99.1 FIXED INCOME INVESTOR PRESENTATION September 2018Exhibit 99.1 FIXED INCOME INVESTOR PRESENTATION September 2018
Slide 2: Cautionary Note on Forward-Looking Statements
INFORMATION RELEVANT TO THIS PRESENTATION Cautionary NoteonForward-Looking Statements: This presentation andrelated comments bymanagement may include forward-looking statements.These statements arebased on current expectations about possible future eventsand thusare inherently uncertain.Our actual r
Slide 3: Agenda
AGENDA Bond Offering Summary Executing our Plan Downside Protection 3AGENDA Bond Offering Summary Executing our Plan Downside Protection 3
Slide 4: Offering Overview: Summary of Terms
OFFERING OVERVIEW Summary of Terms Issuer: General Motors Company Issue: Senior unsecured notes Offering Format: SEC Registered Refinancing of maturing debt and other general corporate purposes Use of Proceeds: Pre-funding certain mandatory non-U.S. pension contributions in Canada and the U.K. Tenor
Slide 5: Use of Proceeds
USE OF PROCEEDS Refinancing Debt Maturity Refinancing maturing senior unsecured notes (3.5% coupon issued in 2013) Pre-funding certain mandatory non-U.S. pension contributions in Canada and the U.K. – Reduces total pension underfunded status ($14.1B as of YE 2017) Pension Contribution – Total debt p
Slide 6: Agenda
AGENDA Bond Offering Summary Executing our Plan Downside Protection 6AGENDA Bond Offering Summary Executing our Plan Downside Protection 6
Slide 7: Key Markets We Participate In Continue to Grow
KEY MARKETS WE PARTICIPATE IN CONTINUE TO GROW Annual Light Vehicle Sales* (in millions) 80 60 40 20 2000 2005 2010 2015 2020 2025 2030 *Includes: North America, South America, Greater China Source: IHS Projections as of July 2018 INDUSTRY OUTLOOK SUPPORTS EXPECTED GROWTH 7KEY MARKETS WE PARTICIPATE
Slide 8: Strong Portfolio Cadence
STRONG PORTFOLIO CADENCE Trucks & SUVs Passenger Cars Cadillac 2015 2016 2017 2018 2019 2020+ Global Emerging Markets Crossovers All-new EV Entries UPCOMING LAUNCHES FOCUSED ON OUR HIGH-VALUE FRANCHISES 8STRONG PORTFOLIO CADENCE Trucks & SUVs Passenger Cars Cadillac 2015 2016 2017 2018 2019 2020+ Gl
Slide 9: Building on the Industry's Most Successful Truck Franchise
BUILDING ON THE INDUSTRY’S MOST SUCCESSFUL TRUCK FRANCHISE Launching great lineup of distinct model trucks All-new from the ground up Bigger dimensions while lighter in weight Increased crew cab and higher trim availability Significant profit opportunity SILVERADO AND SIERRA ARE WELL-POSITIONED WITH
Slide 10: Focused on Electrification
FOCUSED ON ELECTRIFICATION STRONG 20 YEARS OF EXPERIENCE Chevrolet Bolt EV with EV development performance ALL-NEW OPTIMIZED AND FLEXIBLE PLATFORM BATTERY PACK will accommodate multiple to lower cost segments and vehicles COMMITMENT to promote EV adoption and infrastructure WELL-POSITIONED TO LEAD I
Slide 11: Focused on Four Important Themes for AV Deployment
FOCUSED ON FOUR IMPORTANT THEMES FOR AV DEPLOYMENT SAFETY SCALABILITY COMPLEX URBAN ENVIRONMENTS RATE OF ITERATION BASED OFF CURRENT RATE OF ITERATION WE EXPECT COMMERCIALIZATION IN 2019 11FOCUSED ON FOUR IMPORTANT THEMES FOR AV DEPLOYMENT SAFETY SCALABILITY COMPLEX URBAN ENVIRONMENTS RATE OF ITERAT
Slide 12: Agenda
AGENDA Bond Offering Summary Executing our Plan Downside Protection 12AGENDA Bond Offering Summary Executing our Plan Downside Protection 12
Slide 13: Our Disciplined Capital Allocation Framework
OUR DISCIPLINED CAPITAL ALLOCATION FRAMEWORK Reinvest in business to drive growth and 20+% ROIC-adj. $18B target cash Investment grade balance sheet 13OUR DISCIPLINED CAPITAL ALLOCATION FRAMEWORK Reinvest in business to drive growth and 20+% ROIC-adj. $18B target cash Investment grade balance sheet
Slide 14: Strong Investment Grade Balance Sheet
STRONG INVESTMENT GRADE BALANCE SHEET $B June 30, 2018 Target Auto Level Liquidity Automotive Cash, Cash Equivalents and Marketable Securities 16.0 ~18 GM Cruise Cash, Cash Equivalents and Marketable Securities 2.0 1 Available Under Credit Facilities 14.1 Available Liquidity 32.1 ~30-35 Automotive O
Slide 15: We Are a Much Different Company Today Than in 2007
WE ARE A MUCH DIFFERENT COMPANY TODAY THAN GENERAL MOTORS CORPORATION WAS IN 2007 1 2 2007 Today U.S. Breakeven (SAAR Units) ~16M ~10-11M Total Automotive Debt ($B) $39 $14 Net U.S. Pension + Global OPEB ($B) $49 $12 obligation HIGH OPERATING LEVERAGEà LOW FINANCIAL LEVERAGE 15 1. Refers to General
Slide 16: Well Positioned to Perform Through a U.S. 25% Downturn
WELL POSITIONED TO PERFORM THROUGH A U.S. 25% DOWNTURN EXPECT TO: Partially offset Continue investment in headwinds through Generate positive Core Maintain current critical technologies and reductions in non- EBIT-adj. both globally dividend and not draw on products including product capital and in
Slide 17: Credit Rating History
CREDIT RATING HISTORY A- Moody's S&P Fitch DBRS Target running the business consistent BBB+ with Single-A metrics BBB BBB- BB+ Three Upgrades During CY 2017 Current Ratings S&P Moody’s Fitch DBRS BB 1 Corporate Rating BBB Baa2 BBB BBB Credit Facility Rating BBB Baa2 BBB BBB BB- Senior Unsecured / GM
Slide 18: General Motors
GENERAL MOTORS
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