General Motors Company · NYSE:GM
General Motors — Bank of America Merrill Lynch 2015 New York Auto Summit
25 slides from General Motors's conference presentation, Apr 1, 2015
Slide 1: Bank of America Merrill Lynch 2015 New York Auto Summit
Exhibit 99.1 Executive Vice President & Chief Financial Officer Bank of America Merrill Lynch— 2015 New York Auto Summit -— April 1, 2015
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS In this presentation and in related comments by our management, our use of the words expect,” “anticipate,” “possible,” “target,” “believe,” “commit,” “intend,” “continue,” “may,” “would,” “could,” “should,” “project,” “appears,” “potential,” “projected,” “upside,” “positi
Slide 3: What We Hear From Investors
WHAT WE HEAR FROM INVESTORS = Technology leadership and pace of innovation = Inconsistent track record of delivering results = Hard to see earnings getting better = Concern over financial distress in a downturn a Underfunded pensions perceived as an issue
Slide 4: Technology Leadership
TECHNOLOGY LEADERSHIP Zz _BoltE ye We are establishing leadership position across many dimensions... 4
Slide 5: Management Team Is Delivering Results
MANAGEMENT TEAM IS DELIVERING RESULTS a Recall crisis management a Did what we said — 2014 business results — Six straight quarters of Y-O-Y GMNA margin growth* = Made tough decisions — Exit Chevy Europe; exit Australia, Indonesia, and Russia manufacturing — Restructuring Thailand = Capital allocati
Slide 6: 2014 Recalls: Strong Leadership
2014 RECALLS: STRONG LEADERSHIP U.S. Market Share Impact — After Major Recall 2 | <=sToyota(2009-2010)* ==sGM (2014-2015)* Key Principles/Actions % u = “Do the right thing” a = Se = =F 0 2 = Independent < investigation 2 (1) = Compensation a Program s = (2) = Disciplinary actions rv) o = Process cha
Slide 7: Delivering on Our Commitments
DELIVERING ON OUR COMMITMENTS GM Consolidated EBIT-Adjusted* $Billions EBIT-Adj. Margins 2012 2013 2014 2015 2016 Target Target * Reconciliation of EBIT-Adjusted on slide $2 “ Represents Core Operating Performance - excluding recalls 2015 Target EBIT-Adjusted and EBIT-Adjusted margins improving in a
Slide 8: Disciplined Capital Allocation Framework
DISCIPLINED CAPITAL ALLOCATION FRAMEWORK Reinvest in Business Maintain Maintain to Drive Growth $20B Target Investment Grade and 20+% ROIC Cash Balance sheet —— All Available Free Cash Flow to Shareholders Transparent and disciplined capital allocation framework driving shareholder value
Slide 9: Expect Earnings Will Get Better - Numerous Catalysts
EXPECT EARNINGS WILL GET BETTER — NUMEROUS CATALYSTS Market Risks: U.S. cycle . Pricing (ie. passenger cars) Controllable Opportunity: Interest rates = Material costs / suppliers Oil prices = Overhead efficiencies = New product contribution FX (high volume launches) = GMF growth = 4GLTE
Slide 10: Future Product Portfolio
FUTURE PRODUCT PORTFOLIO 13 2010-2014 . 2015-2019 Launch Cadence Average I Launch Cadence Average ~23% Volume , Estimated at ~36% Volume 47 | 38 «38 I 31 30 ! 32 [=2t ! 20 21 I I I I 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 The product cycle story is just beginning ...
Slide 11: Chevrolet Malibu
CHEVROLET MALIBU
Slide 12: Cadillac CT6
Slide 13: Placing More Focused Bets
Growth PLACING MORE FOCUSED BETS... WGM Y 4. \ Mature : rad). Markets ‘ Trucks 4 Emerging Saal e Markets © Luxury Profit Full-line global automotive company... tremendous growth/profit potential
Slide 14: GMF - Unappreciated Opportunity
GMF — UNAPPRECIATED OPPORTUNITY EBT-Adjusted Ending Earning Assets $ Billions $ Billions 2010* 2014 Expected (nage 2010* 2014 Expected 2018 eae euteice, 2018 No additional capital ibutions, retained earnings support growth Earnings and assets to grow faster than equity capital base Double digit afte
Slide 15: 4G LTE - An Untapped Opportunity
Slide 16: Focus on Cost Efficiency
FOCUS ON COST EFFICIENCY Estimated Global Non-Raw Material & Logistics Cost Savings $1.28 2014 2015 2016+ Beyond Estimated Global IT & Global Business Services Cost Savings xe AS $0.3B" 2014 2015 2016+ Beyond * Denotes cost savings vs 2012,ate Estimated Global Operational xcellen (47 Chartered Proje
Slide 17: GM Better Positioned for the Cycle
GM BETTER POSITIONED FOR THE CYCLE a Lower breakeven point a Improving quality of earnings a Investment grade balance sheet/revolver as backstop Ability to “weather” a downturn and appropriately invest through cycle significantly improved...
Slide 18: Breakeven Significantly Improved
BREAKEVEN SIGNIFICANTLY IMPROVED Global Breakeven GMNA Breakeven (Wholesale Units) (U.S. SAAR) Proof Points ~7+M [ ~16m | 2010 = U.S. SAAR 11.8M = GMNA EBIT-Adj. $5.7B* ~10-11M = = GMNA EBIT-Adj. Margin 6.8%* 2014 = U.S. SAAR 16.9M = GMNA EBIT-Adj. $9.0B"* = GMNA EBIT-Adj. Margin 8.9%** 2007*** Toda
Slide 19: Improving Diversification of Earnings
IMPROVING DIVERSIFICATION OF EARNINGS % OF CONSOLIDATED GM EBIT-ADJ. 2014* 2016 Rest of World** ane (Including GMF) Rest of / _World** Rest of World** Earnings growth and additional diversification expected * Represents Core Operating Performance - excluding recalls ** Contains financial results fro
Slide 20: Significantly Lower Balance Sheet/Cash Obligations
SIGNIFICANTLY LOWER BALANCE SHEET/ CASH OBLIGATIONS Automotive Debt + OPEB Auto Interest + OPEB Automotive + Net U.S. Pension** + U.S.Pension Payments Liquidity $5B $88B $37B $35B $27B $1B 2007* 2014 2007* 2014 2007* 2014 * Represents General Motors Corporation - aka “Old GM” * 2007 U.S. pension pla
Slide 21: Pension Obligation Downsized & Derisked
PENSION OBLIGATION DOWNSIZED & DERISKED $134B % No material mandatory U.S. contributi ired for ~5 years Discount rates likely supportive over mid-term ROW-majority pay as you go Pension Benefit Obligation 2011 2014 WAssets mUnderfunded We have extended the time horizon to mitigate pension obligati N
Slide 22: Summary
SUMMARY a Leadership positions in technology a We are delivering results...and on track to deliver medium and long-term commitments a Numerous catalysts will enable earnings to further improve a GM is not the same company it was prior to last downturn --- well positioned for the cycle a Pension obli
Slide 23: Select Supplemental Financial Information
GENERAL MOTORS COMPANY SELECT SUPPLEMENTAL FINANCIAL INFORMATION
Slide 24: Non-GAAP Measures
NON-GAAP MEASURES Management uses earnings before interest and taxes (EBIT)-adjusted and return on invested capital (ROIC) in its financial and operational decision making processes, for internal reporting and as part of its forecasting and budgeting processes as they provide additional transparency
Slide 25: Reconciliation of EBIT-Adjusted
RECONCILIATION OF EBIT-ADJUSTED (SB) Income (loss) before income taxes Add Back Interest Expense 0.3 0.4 Interest Income (0.3) (0.2)} (0.2) Net 0.1 0.0 (0.1) Gain/(Loss) on Extinguishment of Debt 0.3 0.2] (0.2) Special Items ‘Goodwill Impairment Charges’ 271 Impairment Charges al ee and Intangible A
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