Groupe Renault - 2020 Universal Registration Document

GROUPE RENAULT: A COMPANY THAT ACTS RESPONSIBLY

ANNUAL GENERAL MEETING OF RENAULT ON APRIL 23, 2021

FINANCIAL STATEMENTS

GROUPE RENAULT

CORPORATE GOVERNANCE

RENAULT AND ITS SHAREHOLDERS

ADDITIONAL INFORMATION

CONSOLIDATED FINANCIAL STATEMENTS

Share of non-controlling interests 18 - H -

Dividends paid to non-controlling interests (minority shareholders) (€ million)

Net income – non-controlling interests’ share (€ million)

Shareholders’ equity – non-controlling interests’ share (€ million)

Percentage of ownership and voting rights held by non-controlling interests (€ million)

Country of location

December 31, 2020

December 31, 2019

December 31, 2020

December 31, 2019

Entity

2020

2019

2020

2019

Automotive (excluding AVTOVAZ) Renault Samsung Motors Oyak Renault Otomobil Fabrikalari

Korea Turkey

20% 48% 50%

20% 48% 50%

(11)

24 83 (6)

178 341

202 295 123

(7)

(24) (56)

45 (8)

- -

JMEV Other

China

31

-

N/A

N/A

N/A

1

3

9

12

(3)

(4)

TOTAL – AUTOMOTIVE (EXCLUDING AVTOVAZ)

04

27

104

559

632

(10)

(84)

Sales Financing Banco RCI Brasil

Brazil

40% 40% 49%

40% 40% 49%

8

24

- - -

- -

(8)

(9)

Rombo Compania Financiera

Argentina Colombia

(3)

-

- -

- -

RCI Colombia SA

2 2 9

5 2

39 13 52

Other

N/A

N/A

N/A

12 12

(3)

(2)

TOTAL – SALES FINANCING AVTOVAZ Alliance Rostec Auto B.V.

31

(11)

(11)

Netherlands

32% 32% 32%

32% 32% 32%

-

-

578

756

-

-

AVTOVAZ

Russia Russia

(68)

11

(564)

(668)

8

7

LLC LADA Izhevsk

2 3

6 8

(17)

(21)

(4) (4)

(5) (3) (1)

Other

N/A

N/A

N/A

12

16 83

TOTAL AVTOVAZ

(63) (11) (38)

25

9

- -

TOTAL MOBILITY SERVICES

-

(14) 566

-

-

TOTAL

160

767

(21)

(96)

The Group has granted to minority shareholders of Banco RCI Brasil, Rombo Compania Financiera, RCI Colombia SA put options to sell their investments. A liability corresponding to these put options is included in other liabilities, amounting to €100 million for the Brazilian subsidiary, €4 million for the Argentinian subsidiary, and €61 million for the Colombian subsidiary at December 31, 2020 (€144 million, €7 million and 0 respectively at December 31, 2019). A corresponding charge is made to shareholders’ equity, allocated in priority to the non-controlling interests’ share with any residual amount allocated to the parent company shareholders’ share. The liability is stated at fair value. Fair value is determined by estimating the potential purchase price, taking into account future results of the financing portfolio as it exists at the closing date and the provisions of the partnership contracts. This is a level 3 fair value, as it uses recognized models but their significant data are not based on observable market data.

New partnership agreements were signed in 2018 with Oyak in Turkey, including perfectly symmetrical put and call options for non-controlling investments, entitling Renault, subject to certain conditions, to purchase Oyak’s shares in Oyak Renault (call) and to sell its shares in Mais (put), and entitling Oyak to sell its shares in Oyak Renault (put) and purchase Renault’s shares in Mais (call). The exercise price for the put option, if exercised, will be determined by three independent experts who would be appointed at the exercise date. Analysis of the contracts did not identify any circumstances beyond the control of Renault SA that could lead to Oyak’s put option exercised without Renault SA being able to object. Consequently, no liability is recognized at December 31, 2020 in connection with these options. There are no significant restrictions on the Group’s capacity to access or use its assets and settle its liabilities, other than restrictions that result from the regulatory framework in which the subsidiaries operate. The local supervisory authorities may require banking subsidiaries to keep a certain level of capital and liquidities, limit their exposure to other group parties, and comply with other ratios.

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GROUPE RENAULT I UNIVERSAL REGISTRATION DOCUMENT 2020