Slide 1: First Half 2024 Results
Peugeot E-3008 Up to 680km Range (WLTP Cycle) FIRST HALF 2024 RESULTS
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This document, in particular references to “FY 2024 Guidance”, contains forward looking Company’s vehicles; changes in local economic and political conditions; changes in trade statements. Statements regarding future financial performance and the Company’s policy, the impositio
Slide 3: H1 2024 Update: Navigating Our Important Transition
H1 2024 UPDATE: NAVIGATING OUR IMPORTANT TRANSITION Fiat Grande Panda Relaunching a FIAT Icon as a <€25k BEV Double-Digit AOI Margin Transition in Full Motion Challenges Clear: & 3,€6.7B March 2021 Capital Return 10 H1 Product Launches Actions Underway 2020 RESULTS | 3
Slide 4: Ram 1500 RHO
Ram 1500 RHO Highest Horsepower Per Dollar of Any Performance Truck
Slide 5: Results Reflect Transitory Dynamics
RESULTS REFLECT TRANSITORY DYNAMICS Delivered €85B in Net Revenues and Industrial Free Cash Flow Near Zero Continued Strong Capital Return Double-Digit €8.5B Adj. Operating Income Lower AOI, impacted by H1-weighted Returned €6.7B to shareholders in H1, AOI Margin & AOI margin of 10% achieved investm
Slide 6: 2024 Product Blitz: Launched in H1
Maserati Grecale Folgore Ram 1500 Peugeot 3008 Lancia Ypsilon Peugeot 2008 January February April May SA Localization - June 2024 Product Blitz: Launched in H1 Citroën Basalt Peugeot 5008 Small Van Medium Van Large Van June June April March April
Slide 7: 2024 Product Blitz: Coming Soon
Dodge Jeep® Ram Jeep® Ram Charger Daytona Wagoneer S 1500 REV Recon 1500 Ramcharger 2024 Product Blitz: Coming Soon Citroën C3 Alfa Romeo Opel Grandland Opel Fiat Junior Frontera Grande Panda
Slide 8: Technology Solutions That Address the Most Critical Customer Needs
TECHNOLOGY SOLUTIONS THAT ADDRESS THE MOST CRITICAL CUSTOMER NEEDS STLA Large Platform Citroën Ë-C3 e-ROUTES CHOICE AFFORDABILITY PERFORMANCE PRODUCTIVITY Comprehensive Multi-Energy Rapid Deployment of Smart Car Benchmark Performance Software That Makes Businesses Portfolio & Manufacturing Platform
Slide 9: North America: Results Reflect Multiple Challenges
NORTH AMERICA: RESULTS REFLECT MULTIPLE CHALLENGES AOI Margin at 11.4% H1 Market Share 8.2% Down 180 bps Strong Positioning in Electrification Steep decline by 610 bps y-o-y, y-o-y; U.S. market share delivered 130 bps #1 rank in U.S. PHEV(1) & #2 in LEV(1) sales; with AOI at €4.4B down €3.7B y-o-y s
Slide 10: North America: Operational Improvement Initiatives
NORTH AMERICA: OPERATIONAL IMPROVEMENT INITIATIVES Enhancing Market Optimizing Product Reducing Approach Portfolio Industrial Costs • Reducing production for Q3 ’24 • BEV segment ramp up begins H2 ‘24 • Aligning shifts/capacity to demand RESPONSIVE • Calibrating incentives to be • Additional Ram LD
Slide 11: Enlarged Europe: Inventory in Stronger Position to Support New Product Wave
ENLARGED EUROPE: INVENTORY IN STRONGER POSITION TO SUPPORT NEW PRODUCT WAVE AOI Margin at 6.9% EU30 H1 Market Share 18.2% #3 in EU30 BEV Sales down 380 bps; AOI €2.1B, down €1.7B y-o-y, down 80 bps y-o-y, but up 60 bps 13.2% BEV market share in H1, closing the due to product mix, net pricing and low
Slide 12: Third Engine Aggregated AOI Exceeds Enlarged Europe
THIRD ENGINE(1) AGGREGATED AOI €2.3B; EXCEEDS ENLARGED EUROPE FOR FIRST TIME CHINA AND MIDDLE EAST & AFRICA SOUTH AMERICA INDIA & ASIA PACIFIC AOI Margin of 20.9% Record AOI Margin of 15.6% AOI Margin of 5.3% AOI of €1.0B, down 14% y-o-y; AOI up 7% y-o-y to €1.1B despite lower down 950 bps y-o-y, re
Slide 13: Accretive Businesses: High-Growth, Diversified Profit Drivers
ACCRETIVE BUSINESSES: SPOTLIGHTING HIGH-GROWTH, DIVERSIFIED PROFIT DRIVERS FAST GROWTH OF FINANCIAL SERVICES INDEPENDENT AFTERMARKET OFFENSIVE(2) EXPANDS U.S. Finco Scaling Ahead of Plan 27% Sales Growth y-o-y(3) Receivables >$10B (initial December 2024 target achieved) with inclusion of DPaschoal i
Slide 14: Financial Results
FINANCIAL RESULTS JULY 25, 2024 H1 2024 RESULTS | 14
Slide 15: Challenging Transition Underway
CHALLENGING TRANSITION UNDERWAY Shipments Net Revenues AOI Margin* Adjusted Diluted EPS* Industrial FCF* (Consolidated) 2.9M €85B 10.0% €2.36 -€0.4B -10% -14% -440 bps -35% down from €8.7B Driven by combination of Lower volume/mix and FX Decline in shipments, adverse Lower AOI, partly offset by Lowe
Slide 16: Net Revenue Declines on Sharp Volume Decrease and FX Headwinds
NET REVENUE DECLINES ON SHARP VOLUME DECREASE AND FX HEADWINDS • Volume & Mix -12% y-o-y, mostly NET REVENUES due to lower shipments, largely attributable to discontinued € billion products in North America and - 14% actions to manage inventories in Enlarged Europe, as well as adverse regional mix 9
Slide 17: AOI Bridge Reflects Pricing & Cost Discipline
AOI BRIDGE REFLECTS PRICING & COST DISCIPLINE TO MITIGATE VOLUME & MIX DECLINE ADJUSTED OPERATING INCOME* • Volume & Mix -33% y-o-y, largely attributable to North America and € million Enlarged Europe % = Adjusted Operating Income Margin • Vehicle Net Price +3% y-o-y, with 14,126 positive pricing ac
Slide 18: New Vehicle Inventory: Solid Progress in Enlarged Europe
NEW VEHICLE INVENTORY: SOLID PROGRESS IN ENLARGED EUROPE; NA TASK REMAINS Company Sequential Development Longer-Term Development 000 units Independent dealers 000 units 1,894 352 1,387 1,459 1,393 1,408 1,408 1,374 331 340 <-Pandemic Constraint Period-> 388 423 2020 - 2022 320 340 882 1,542 110 999
Slide 19: IFCF Close to Zero
IFCF CLOSE TO ZERO DUE TO LOWER PROFITABILITY, CAPEX & WORKING CAPITAL HEADWINDS Industrial AOI* to Industrial FCF Bridge € million H1 2024 H1 2023 • Capital Expenditures increase driven by H1- Industrial Adj. Operating Income 8,223 13,848 weighted investments to launch new products, as well as high
Slide 20: Delivering €2.36 Adj. Diluted EPS and Maintaining Strong Liquidity
DELIVERING €2.36 ADJ. DILUTED EPS AND MAINTAINING STRONG LIQUIDITY H1 2024 vs. € million, except as otherwise stated H1 2024 H1 2023 H1 2023 Combined Shipments(1,2) (000 units) 2,931 3,327 - 12% • Operating income includes Consolidated Shipments(1) (000 units) 2,872 3,202 - 10% unusual charges of €1
Slide 21: Strong Capital Returns: Remain Committed to 2024 Plan
STRONG CAPITAL RETURNS: REMAIN COMMITTED TO 2024 PLAN 2024 Capital Return Plan H1 ’24 Progress FY ’24 Impact Purchases from Strategic Partners Open Market Buybacks ≥7.7 Dividends €2.0B >4% 6.6 Expected reduction in shares outstanding Shares repurchased through stock buyback plan in first six months
Slide 22: 2024 Guidance: Navigating the Course
2024 GUIDANCE: NAVIGATING THE COURSE Revenue Backdrop Industrial Free Cash Flows* Neutral Double-Digit Positive €500M Cost Reduction H2 vs. H1 Affordability Constraints Above-Average Profitability Tailwinds Non-repeat of NA Strike Impacts Improved Prices Drive Competition Disciplined Investment Plan
Slide 23: CEO Closing Remarks
CEO CLOSING REMARKS Jeep® Wrangler
Slide 24: Investor Day Recap – June 13, 2024
INVESTOR DAY RECAP – JUNE 13, 2024 DIFFERENTIATORS 2024 CHALLENGES VALUE CREATION TECHNOLOGY • Iconic and innovative brands • Market share declines and • Leading capital return with 2 • 4 BEV-native, multi-energy reaching all price points heightened inventory levels consecutive years of buyback plat
Slide 25: Leveraging Key Partnership to Accelerate Growth
LEVERAGING KEY PARTNERSHIP TO ACCELERATE GROWTH Strong Leapmotor Growth in China Leapmotor (21% Stellantis Ownership) • Sales nearly doubling y-o-y to 87k units, in H1 ’24 • Successful launch of C10 in Mar ’24 and C16 in Jun ‘24 • #4-ranked Chinese startup NEV by sales in Jun ’24 • Cumulative sales
Slide 26: Forever Forward Since 1899!
125 Years of Opel Automobiles: Forever Forward Since 1899! Iconic German Brand Rüsselsheim Transformation Electrification Offensive • Opel celebrates 125 years of automobiles • Astra variants built on one line; own • Spacious Frontera BEV starting at <€29k battery shop • Pioneering spirit & democrat
Slide 27: Grande Panda Illustrates Fiat's Exciting Future
Grande Panda Illustrates Fiat’s Exciting Future Legendary Italian Hero Multi-Region Local Leader New Global Family Arriving • FIAT celebrates its 125th anniversary • #1 Brand in Italy, Brazil, Turkey & Algeria • Grande Panda BEV starting at <€25k • One of the longest-operating OEMs • Stellantis #1 B
Slide 28: H1 2024 Update: Navigating Our Important Transition
H1 2024 UPDATE: NAVIGATING OUR IMPORTANT TRANSITION Fiat Grande Panda Relaunching a FIAT Icon as a <€25k BEV Double-Digit AOI Margin Transition in Full Motion Challenges Clear: & €6.7B Capital Return 10 H1 Product Launches Actions Underway
Slide 29: Appendix
APPENDIX JULY 25, 2024 H1 2024 RESULTS | 29
Slide 30: Definitions and Notes to Presentation
DEFINITIONS AND NOTES TO PRESENTATION For purposes of this presentation, and unless otherwise stated: • All Stellantis reported BEV and LEV sales include Citroën Ami, Fiat Topolino and Opel Rocks-e; in countries where these vehicles are classified as quadricycles, they are excluded from Stellantis r
Slide 31: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES 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 operating res
Slide 32: H1 Key Commercial Metrics
H1 KEY COMMERCIAL METRICS COMBINED SALES 000 units 3,178 2,994 1,459 1,440 H1 2024 939 791 H1 2023 404 410 271 293 34 50 25 31 8.9 14.5 NORTH ENLARGED MIDDLE EAST SOUTH INDIA & TOTAL CHINA AMERICA EUROPE & AFRICA AMERICA ASIA PACIFIC MARKET SHARE (1) 8.2% 10.0% 17.7% 18.3% 13.2% 15.0% 22.7% 23.8% 0.
Slide 33: Q2 Key Commercial Metrics
Q2 KEY COMMERCIAL METRICS COMBINED SALES 000 units 1,656 1,466 702 724 Q2 2024 507 402 Q2 2023 167 213 210 116 16 25 12 16 4.1 7.3 NORTH ENLARGED MIDDLE EAST SOUTH INDIA & TOTAL CHINA AMERICA EUROPE & AFRICA AMERICA ASIA PACIFIC MARKET SHARE (1) 8.0% 10.1% 16.6% 18.0% 11.8% 16.6% 22.1% 23.9% 0.5% 0.
Slide 34: North America Regional Snapshot
REGIONAL SNAPSHOT SHIPMENTS NET REVENUES ADJUSTED OPERATING INCOME & MARGIN (000 units) (€ billion) (€ million) 1,023 8,027 45.9 838 38.4 4,366 17.5% 11.4% H1 '24 H1 '23 H1 '24 H1 '23 H1 '24 H1 '23 NORTH AMERICA • Down 18%, mostly driven by discontinued • Down 16%, primarily due to lower volumes and
Slide 35: Enlarged Europe Regional Snapshot
REGIONAL SNAPSHOT SHIPMENTS NET REVENUES ADJUSTED OPERATING INCOME & MARGIN (000 units) (€ billion) (€ million) 1,478 34.9 1,387 30.0 3,725 2,060 10.7% 6.9% H1 '24 H1 '23 H1 '24 H1 '23 H1 '24 H1 '23 ENLARGED EUROPE • Down 6%, to support inventory de-stocking efforts • Down 14%, due to higher buyback
Slide 36: Middle East & Africa Regional Snapshot
REGIONAL SNAPSHOT COMBINED SHIPMENTS NET REVENUES ADJUSTED OPERATING INCOME & MARGIN (000 units) (€ billion) (€ million) JV Consolidated 5.0 4.7 1,218 301 1,047 273 59 93 20.9% 25.9% 214 208 MIDDLE EAST & AFRICA H1 '24 H1 '23 H1 '24 H1 '23 H1 '24 H1 '23 • Consolidated Shipments up 3%, with Fiat • Up
Slide 37: South America Regional Snapshot
REGIONAL SNAPSHOT SHIPMENTS NET REVENUES ADJUSTED OPERATING INCOME & MARGIN (000 units) (€ billion) (€ million) 7.4 7.6 1,150 394 420 1,075 15.6% 14.2% H1 '24 H1 '23 H1 '24 H1 '23 H1 '24 H1 '23 SOUTH AMERICA • Down 6%, with reduction in Fiat Cronos, Jeep® • Down 3%, due to negative FX translation ef
Slide 38: Regional Snapshot: China and India & Asia Pacific, Maserati
REGIONAL SNAPSHOT China and India & Asia Pacific CHINA AND INDIA & ASIA PACIFIC MASERATI • Lower results due to reduced shipments, negative FX € million, except as otherwise stated H1 2024 H1 2023 H1 2024 H1 2023 translation effects and consolidation impact from Combined Shipments (1,2) (000 units)
Slide 39: Reconciliation of Net Revenues from External Customers to Net Revenues
RECONCILIATION OF NET REVENUES FROM EXTERNAL CUSTOMERS TO NET REVENUES H1 2024 China and North Enlarged Middle East South India & € million America Europe & Africa America Asia Pacific Maserati Other (1) Stellantis Net Revenues from External Customers 38,351 29,848 5,005 7,373 1,071 631 2,738 85,017
Slide 40: Reconciliation of Net Profit to Adjusted Operating Income (H1 2024)
RECONCILIATION OF NET PROFIT TO ADJUSTED OPERATING INCOME H1 2024 China and North Enlarged Middle East South India & € million America Europe & Africa America Asia Pacific Maserati Other (1) Stellantis Net Profit 5,647 Tax Expense 1,342 Net Financial Expenses/(Income) (350) Operating Income 6,639 Ad
Slide 41: Reconciliation of Net Profit to Adjusted Operating Income (H1 2023)
RECONCILIATION OF NET PROFIT TO ADJUSTED OPERATING INCOME H1 2023 China and North Enlarged Middle East South India & € million America Europe & Africa America Asia Pacific Maserati Other (1) Stellantis Net Profit 10,918 Tax Expense 2,692 Net Financial (Income) (69) Operating Income 13,541 Adjustment
Slide 42: Reconciliation of Diluted EPS to Adjusted Diluted EPS
RECONCILIATION OF DILUTED EPS TO ADJUSTED DILUTED EPS € million, except as otherwise stated H1 2024 H1 2023 Net profit attributable to owners of the parent 5,624 10,923 Weighted average number of shares outstanding (000) 3,002,791 3,137,744 Number of shares deployable for share-based 21,659 26,063 c
Slide 43: Reconciliation of Cash Flows from Operating Activities to Industrial Free Cash Flows
RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES TO INDUSTRIAL FREE CASH FLOWS € million H1 2024 H1 2023 Cash Flows from Operating Activities 4,889 13,393 Less: Operating Activities not Attributable to Industrial Activities (1,465) (211) Less: Capital Expenditures and Capitalized R&D Expenditu
Slide 44: Reconciliation of Debt to Industrial Net Financial Position
RECONCILIATION OF DEBT TO INDUSTRIAL NET FINANCIAL POSITION € million Jun 30 2024 Dec 31 2023 Debt (32,174) (29,463) Current Financial Receivables from Jointly-Controlled Financial Services Companies 1,245 767 Derivative Financial Assets/(Liabilities), Net and Collateral Deposits 6 20 Financial Secu
Slide 45: Debt Maturity Schedule – Industrial Activities
DEBT MATURITY SCHEDULE – INDUSTRIAL ACTIVITIES € billion Outstanding June 30 2024 6M 2024 2025 2026 2027 2028 Beyond 17.0 Capital Markets Debt 0.0 0.7 2.5 2.2 1.5 10.0 1.8 Bank Debt 0.7 1.0 0.1 0.1 0.0 0.0 0.3 Other Debt 0.2 0.0 0.0 0.0 0.0 0.0 2.4 Lease Liabilities 0.5 0.5 0.3 0.2 0.1 0.8 21.5 Tota
Slide 46: Research and Development Costs and Expenditures
RESEARCH AND DEVELOPMENT COSTS AND EXPENDITURES € million H1 2024 H1 2023 Research and Development Expenditures Expensed 1,542 1,631 Amortization of Capitalized Development Expenditures 1,076 1,088 Impairment and Write-off of Capitalized Development Expenditures 201 16 Total Research and Development
Slide 47: STELENANTIS
STELENANTIS CHRYSLER CITROEN i GR AES rg LEASYS reser