| MESSAGE FROM JEAN-DOMINIQUE SENARD | 2 |
| MESSAGE FROM LUCA DE MEO | 4 |
| GOVERNANCE AND BOARD OF MANAGEMENT | 6 |
| BUSINESS MODEL | 8 |
| STRATEGIC PLAN | 10 |
| FOUR BRANDS, 4 PROPOSITIONS | 12 |
| KEY FIGURES | 14 |
| 1. GROUPE RENAULT | 17 |
| 1.1 OVERVIEW OF RENAULT AND THE GROUP | 18 |
| 1.1.1 Management bodies as at March 1, 2021 | 18 |
| 1.1.2 Key figures | 19 |
| 1.1.3 The Group’s main activities and strategy | 21 |
| 1.1.4 Sales financing | 53 |
| 1.1.5 Mobility services | 57 |
| 1.1.6 Main Group subsidiaries and detailed organization chart | 58 |
| 1.1.7 History of the Group | 62 |
| 1.2 THE ALLIANCE | 64 |
| 1.2.1 Overview | 64 |
| 1.2.2 History | 64 |
| 1.2.3 Functioning of the Alliance in 2020 | 65 |
| 1.2.4 Strategic cooperations | 68 |
| 1.2.5 Nissan 2020 results | 70 |
| 1.3 EARNINGS REPORT – 2020 | 71 |
| In brief | 71 |
| 1.3.1 Sales performance | 73 |
| 1.3.2 Financial results | 78 |
| 1.4 RESEARCH AND DEVELOPMENT | 83 |
| 1.4.1 The car of the future | 83 |
| 1.4.2 New products in 2020 and 2021 and their innovations | 89 |
| 1.4.3 Performance levers | 92 |
| 1.4.4 R&D: a unified international organization | 94 |
| 1.5 INTERNAL CONTROL AND RISK MANAGEMENT | 95 |
| 1.5.1 Group internal control and risk management system | 95 |
| 1.5.2 Groupe Renault risk factors | 101 |
| 1.6 REGULATORY ENVIRONMENT | 115 |
| 1.6.1 Vehicle manufacturing regulations | 115 |
| 1.6.2 Environmental regulations | 118 |
| 1.6.3 European regulations applicable to the distribution of new vehicles and spare parts | 121 |
| 1.6.4 Community design regulations | 121 |
| 1.6.5 Banking regulations | 122 |
| 1.7 POST-BALANCE SHEET EVENTS | 123 |
| 2. GROUPE RENAULT: A COMPANY THAT ACTS RESPONSIBLY | 125 |
| 2.1 CREATING SHARED VALUES THAT RESPECT SOCIETY AND THE ENVIRONMENT | 126 |
| 2.1.1 A strong CSR commitment | 126 |
| 2.1.2 CSR governance | 128 |
| 2.1.3 Guidelines and standards | 128 |
| 2.1.4 Permanent dialog with our stakeholders (EFPD14c) | 134 |
| 2.1.5 Vigilance plan | 138 |
| 2.1.6 Extra-Financial Performance Declaration | 139 |
| 2.1.7 Our action in response to the COVID-19 crisis | 146 |
| 2.2 OUR ENVIRONMENTAL COMMITMENT | 149 |
| 2.2.1 The ecological challenges | 149 |
| 2.2.2 Company-wide environmental management (EFPD7a) | 150 |
| 2.2.3 Environmental impacts: actions and indicators | 160 |
| 2.3 OUR SOCIETAL COMMITMENT | 186 |
| 2.3.1 Imagining and designing tomorrow's sustainable mobility | 186 |
| 2.3.2 Commitment to road safety | 191 |
| 2.3.3 Plants that are transforming | 195 |
| 2.3.4 A global network of CSR correspondents | 196 |
| 2.4 OUR SOCIAL COMMITMENT | 198 |
| 2.4.1 Promoting diversity, development and employee commitment | 198 |
| 2.4.2 Health, safety, ergonomy and the environment (HSEE) (EFPD3) | 214 |
| 2.4.3 Handing on knowledge for the future | 221 |
| 2.4.4 Contributing to the development and vitality of the regions (EFPD14c) | 223 |
| 2.4.5 Making mobility as widely accessible as possible | 225 |
| 2.4.6 Renault Corporate Foundation | 228 |
| 2.5 ETHICS AND GOVERNANCE | 229 |
| 2.5.1 Business ethics: ethics and compliance policy | 229 |
| 2.5.2 Strengthening the responsible purchasing approach in the supply chain (EFPD15a - EFPD15b) | 231 |
| 2.5.3 Tax policy (EFPD15c) | 234 |
| 2.5.4 Cybersecurity and data protection | 234 |
| 2.5.5 Lobbying activities | 235 |
| 2.6 APPENDICES | 236 |
| 2.6.1 Environmental appendices | 236 |
| 2.6.2 Appendices concerning social commitment | 245 |
| 2.6.3 Appendices concerning societal commitments | 248 |
| 2.6.4 Sustainability Accounting Standards Board (SASB) Index | 249 |
| 2.6.5 Extra-financial ratings and indexes | 250 |
| 2.6.6 Report by one of the statutory auditors, appointed as independent third party, on the consolidated non-financial statement | 252 |
| 3. CORPORATE GOVERNANCE | 257 |
| REPORT ON CORPORATE GOVERNANCE | 258 |
| 3.1 COMPOSITION, PREPARATION AND ORGANIZATION OF THE BOARD OF DIRECTORS | 258 |
| 3.1.1 Governance structure | 258 |
| 3.1.2 Composition of the Board of Directors | 262 |
| 3.1.3 List of offices and functions exercised by the directors | 268 |
| 3.1.4 Additional information about the directors | 284 |
| 3.1.5 Board organization, operation and missions | 285 |
| 3.1.6 Activity of the specialized committees of the Board of Directors in 2020 | 292 |
| 3.1.7 Evaluation of the Board of Directors | 300 |
| 3.1.8 Implementation of the “comply or explain” rule | 301 |
| 3.1.9 Assessment procedure for current agreements concluded under arm’s length terms | 302 |
| 3.1.10 Procedures for shareholders’ participation in the Annual General Meeting | 302 |
| 3.1.11 Factors likely to have an effect in the event of a public offer | 302 |
| 3.1.12 Summary table of ongoing delegations in respect of capital increases | 302 |
| 3.2 COMPENSATION OF DIRECTORS AND CORPORATE OFFICERS | 303 |
| 3.2.1 General principles relating to the compensation of the corporate officers | 303 |
| 3.2.2 Compensation of the directors and corporate officers in 2020 | 305 |
| 3.2.3 Comparison of compensation levels between corporate officers and employees | 320 |
| 3.2.4 Compensation policies for the directors and corporate officers for the 2021 financial year | 322 |
| 3.2.5 Compensation of senior executives: performance shares | 328 |
| 3.3 INFORMATION CONCERNING SECURITIES TRANSACTIONS | 331 |
| 4. FINANCIAL STATEMENTS | 333 |
| 4.1 STATUTORY AUDITORS’ REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS | 334 |
| 4.2 CONSOLIDATED FINANCIAL STATEMENTS | 338 |
| 4.2.1 Consolidated income statement | 338 |
| 4.2.2 Consolidated comprehensive income | 339 |
| 4.2.3 Consolidated financial position | 340 |
| 4.2.4 Changes in consolidated shareholders’ equity | 342 |
| 4.2.5 Consolidated cash flows | 343 |
| 4.2.6 Notes to the consolidated financial statements | 344 |
| 4.3 STATUTORY AUDITORS’ REPORTS | 416 |
| 4.3.1 Statutory auditors’ report on the annual financial statements | 416 |
| 4.3.2 Statutory auditors’ special report on related-party agreements | 420 |
| 4.4 RENAULT SA ANNUAL FINANCIAL STATEMENTS | 423 |
| 4.4.1 Summary financial statements | 423 |
| 4.4.2 Notes to the annual financial statements | 425 |
| 5. RENAULT AND ITS SHAREHOLDERS | 441 |
| 5.1 GENERAL INFORMATION | 442 |
| 5.1.1 Overview | 442 |
| 5.1.2 Special provisions of the articles of association | 442 |
| 5.2 GENERAL INFORMATION RELATING TO RENAULT’S SHARE CAPITAL | 444 |
| 5.2.1 Share capital | 444 |
| 5.2.2 Change in the share capital | 444 |
| 5.2.3 Changes in capital ownership during the past five years | 444 |
| 5.2.4 Unissued authorized share capital | 444 |
| 5.2.5 Potential share capital | 445 |
| 5.2.6 Renault share ownership | 447 |
| 5.3 MARKET FOR RENAULT SHARES | 450 |
| 5.3.1 Renault shares | 450 |
| 5.3.2 Renault and Diac participating shares (titres participatifs) | 451 |
| 5.3.3 Dividends | 452 |
| 5.4 INVESTOR RELATIONS POLICY | 452 |
| 5.4.1 Individual shareholders | 452 |
| 5.4.2 Institutional investors/socially responsible investors | 452 |
| 5.4.3 2021 financial calendar | 453 |
| 5.4.4 Contacts | 453 |
| 5.4.5 Public documents | 453 |
| 6. ANNUAL GENERAL MEETING OF RENAULT ON APRIL 23, 2021 | 455 |
| DRAFT RESOLUTIONS | 456 |
| 1 - Ordinary General Meeting | 456 |
| 2 - Extraordinary General Meeting | 460 |
| 3 - Ordinary General Meeting | 461 |
| 7. ADDITIONAL INFORMATION | 463 |
| 7.1 CERTIFICATION BY THE PERSON RESPONSIBLE FOR THE DOCUMENT | 464 |
| 7.2 HISTORICAL INFORMATION ON FINANCIAL YEARS 2018 AND 2019 | 465 |
| 7.2.1 For financial year 2018 | 465 |
| 7.2.2 For financial year 2019 | 465 |
| 7.3 STATUTORY AUDITORS | 466 |
| 7.3.1 Statutory auditors’ fees | 467 |
| 7.4 CROSS-REFERENCE TABLES | 468 |
| 7.4.1 Headings required by Annex 1 of regulation (EU) no. 2019/980 | 468 |
| 7.4.2 Cross-reference table for the management report and the report on corporate governance | 471 |
| 7.4.3 Cross-reference table of the annual financial report | 474 |
| GLOSSARY | 475 |
| INITIALS AND ACRONYMS | 478 |