PSA - 2019 Universal Registration Document

20

UNIVERSAL REGISTRATION DOCUMENT Including the annual financial report

-1 PSA - GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT

19

CONTENTS

MESSAGE OF THE PRESIDENT

2 3

KEY FIGURES

CONSOLIDATED FINANCIAL STATEMENTS AT 31 DECEMBER 2019 Consolidated Statements of Income 5.1. Consolidated Comprehensive Income 5.2. Consolidated Statements of Financial 5.3. Position Consolidated Statements of cash flows 5.4. Consolidated Statements of Changes 5.5. in Equity Notes to the Consolidated Financial 5.6. Statements at 31 December 2019 Supervisory Board’s report: comments 5.7. by the Supervisory Board on the Managing Board’s report and on the financial statements of the period PEUGEOT S.A. FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 Income statement for the year ended 6.1. 31 December 2019 Balance sheet at 31 December 2019 6.2. Cash flow statements for the year 6.3. ended 31 December 2019 Company Financial Results for the past 6.5 five years Statutory Audit Report on the financial 6.6. statements Statutory Auditors’ Report on related 6.7. party agreements Notes to Peugeot S.A. 6.4. Financial statements Statutory auditors’ report 5.8. on the consolidated financial statements

GROUPE PSA

5

History and highlights 1.1.

AFR 169

of the Company’s business

6 7 9

170

Organisational structure 1.2. Activities and strategy 1.3.

171

Risk management and internal control 1.4. procedures

172 174

21

Risk factors DPEF.B 1.5.

25 45

AFR AFR

Vigilance plan 1.6.

175

176

DECLARATION ON EXTRA-FINANCIAL PERFORMANCE 51 Social responsibility: an integral part 2.1. of the Group’s strategy 52 Embracing environmental issues 2.2. AFR 55 Societal commitment to sustainable 2.3. development AFR 71 Human resources: driving Groupe PSA 2.4. transformation AFR 77 Groupe PSA CSR performance 2.5. 87 Report by the independent third party, 2.6.

258

260

on the consolidated non-financial statement included in the Group Management Report Reporting scope, methodology 2.7. and cross-reference tables CORPORATE GOVERNANCE Management and supervisory bodies 3.1. Compensation of company officers 3.2.

AFR 265

88

266 267

91

269

95

AFR

270

96

128

286

287

ANALYSIS OF THE BUSINESS AND GROUP OPERATING RESULTS IN 2019 AND OUTLOOK

291

151

Analysis of consolidated interim 4.1. operating results Financial position and cash 4.2.

152 155 157 159 162 168

AFR AFR AFR

INFORMATION ABOUT THE COMPANY AND ITS SHARE CAPITAL Information on Peugeot S.A. 7.1. Information on the share capital 7.2.

295

Parent-company results 4.3.

Major contracts 4.4.

AFR 296 AFR 298 AFR 301

Investment 4.5.

in research & development Recent events and outlook 4.6.

AFR RFA

Ownership structure 7.3.

Corporate financial instrument markets 7.4.

303

ADDITIONAL INFORMATION Persons responsible for the Universal 8.1. Registration Document Historical financial information 8.2. Documents available to the public 8.3. Persons responsible for auditing 8.4. the accounts

305

AFR 306

307 307

AFR 308

Cross-reference tables 8.5.

309

Annual Financial Report elements are clearly identified in this table of contents with the sign AFR

UNIVERSAL REGISTRATION DOCUMENT including the annual financial report

This Universal Registration Document, which contains all the information found in the Management Report, was filed on 21 April 2020 with the Financial Markets Authorities (AMF), the relevant body, in accordance with Regulation (EU) 2017/1129, without prior approval pursuant to Article 9 of said regulation. It may be used for the purposes of a public offering of financial securities or the admission of securities to trading on a regulated market if it is supplemented by a prospectus and, where relevant, a summary and all the amendments made to the Universal Registration Document. The entire document filed is approved by the AMF in accordance with Regulation (EU) 2017/1129. It was prepared by the issuer and is the responsibility of the person whose Signature appears therein. It contains all of the information concerning the Annual Financial Report.

1 GROUPE PSA - DOCUMENT DE RÉFÉRENCE 2016 GROUPE PSA - 2019 UNIVERSAL REGISTRATION DO UMENT

MESSAGE OF THE CHAIRMAN OF THE MANAGING BOARD

record highs, with an adjusted operating margin of 8.5%, the best in the industry. Reversing 20 consecutive years of losses, Opel now boasts a margin of 6.5%, only two years after joining the Group. The Automotive division’s free cash flow has increased to more than €3 billion in 2019. For more than six years in a row, with the demanding support of the Supervisory Board, Groupe PSA management teams have created lasting value for: For more than six years in a row, with the unwavering support of the Supervisory Board, Groupe PSA has created lasting value for: pp Its customers, with a level of quality and level of satisfaction that continues to rise. pp Its employees, with a 5.4-fold increase in 6 years in redistribution of the value created, thanks to the maturity of social dialogue. pp Its investors, with an advantageous dividend policy. pp All of its partners, with suppliers and business partners committed in quest for continued performance improvement. Our engagement in society and our economic performance put us in an upfront position to meet the many challenges facing the automotive OEMs. In the difficult context, that our industry faces, the merger project with FCA is more than ever an opportunity for the two companies and will make our combined group a world leader, ready to forge ahead into a new era of sustainable mobility.

While the start of 2020 is marked by a brutal health crisis, our Group is following a clear line: «Protect the health of its employees and protect the sustainability of the business». We have made responsible decisions, notably with the deployment of a protocol of reinforced health measures across all of our sites. Our teams are today mobilized and united to prepare for the future in a difficult economic context. This future is also confirmed with Group’s ethical commitment to the next generations and through a clear and compelling raison d’être: to ensure freedom of movement by providing clean, safe and affordable mobility for everyone. We are doing our part in the global effort to combat global warming, in line with the objectives of the Paris Agreement (1) . The CO 2 performance was improved by an 11g (2) average for our conventional vehicles in 2019, bolstered by the launch of 10 electrified models (3) and the marketing of innovative mobility solutions such as the Citroën Ami. Our resolute policy supports our commitment to meeting the 2020 CO 2 objectives set by the European Union. More broadly, our company is recognized as a leading socially responsible player in the most prominent CSR indices: Groupe PSA is selected in 9 ESG indices (4) – and is leader in its industry for 3 of them (5) – and is confirmed as a world leader in the low-carbon transition by the CDP (6) . Efficiency is also a strong lever for a sustainable business and the rigorous implementation of our Push to Pass strategic plan has taken our profitability to

CARLOS TAVARES Chairman of the Managing Board of Groupe PSA

(1) Groupe PSA objectives in terms of CO 2 reduction were scientifically certified in November 2019 by the Science Based Targets initiative (SBTi), as compliant with demanded reduction to maintain global warming under 2°C above preindustrial level, as recommended by the GIEC (2) Passenger vehicles – Registrations in Europe – Scope of CO 2 regulations (30 countries) – Internal data (3) 4 BEVs: DS 3 CROSSBACK E-TENSE, Peugeot e-208 and e-2008, Opel Corsa-e; and 6 PHEVs: DS 7 CROSSBACK E-TENSE 4x4, Peugeot 3008 HYBRID, 508 HYBRID & 508 SW HYBRID, C5 Aircross HYBRID, Opel Grandland X HYBRID4 (4) Environment, Social and Governance (5) DJSI, ISS ESG et Vigeo-Eiris (6) The CDP is an international non-profit organization, elected leading provider of climate research by investors. It assesses companies for the completeness of their reporting climate, their management of environmental risks and their demonstration of best practices, such as the setting of ambitious and significant objectives.

2 GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT

POR M

A GLOBAL PRESENCE...

RUSSIA Kaluga (11)

BELARUS

UKRAINE

RUSSIA Kaluga (11)

JAPAN (11)

CHINA Xiangyang (13)

BELARUS

Mizushima (12) Shanghai / Wuhan / Shenzhen (14)

Casablanca MOROCCO

UNITED STATES OF AMERICA

Tunis (1) TUNISIA

UKRAINE

Wuhan (13)

Kenitra

Delhi (15)

Chengdu (14)

ALGERIA

Shenzhen (15)

MEXICO

Oran (2)

INDIA

VIETNAM Casablanca MOROCCO

Hosur (3)

Tunis (1) TUNISIA

Chu Lai (6)

Wukro (9)

Kenitra

Delhi (15)

PortoReal

ETHIOPIA

NIGERIA

MALAYSIA

BRAZIL

(7) ALGERIA

Kaduna (8)

Gurun

Oran (2)

São Paulo ar

Thika (4) KENYA

URUGUAY Montevideo (5)

IND

Hosur (3

Wukro (9)

employees in the world 208,780

PortoReal MANUFACTURING LOCATIONS Automotive production plant in partnership in the planning stage Components factory, casting in partnership São Paulo Palomar URUGUAY Montevideo (5)

ETHIOPIA

NIGERIA

Kaduna (8)

INA

Thika (4) KENYA

CHILE

…A EUROPEAN LEADER

ARGENTINA

in the planning stage

Assembly plant

in the planning stage in partnership

OTHER LOCATIONS

MANUFACTURING LOCATIONS Automotive production plant in partnership in the planning stage Components factory, casting in partnership

R&D centre

UNITED KINGDOM

NB : n’apparaissent pas les sites tertiaires, sièges sociaux, sites informatiques, les activités non automobiles, ainsi que les pays où les véhicules du Groupe sont commercialisés par un importateur. THENETHERLANDS POLAND

Ellesmere Port

SALES LOCATIONS

GERMANY

Luton

Countries where the Group operates with a subsidiary that commercializes vehicles and / or mobility services Countries where only mobility services of the Group are commercialized

Gliwice

Kolin (12)

BELGIUM

Tychy

eporting RSE sont précisées en § 8.4.1

NB : n’apparaissent pas les sites tertiaires, s ainsi que les pays où les véhicules du Group SLOVAKIA

CZECH REPUBLIC

in the planning stage

LUXEMBOURG

AUSTRIA Aspern

FRANCE

Trnava

Assembly plant

Szentgotthárd HUNGARY

SWITZERLAND

in the planning stage in partnership

Partenaires industriels (cf. § 2.0.3.3.1)

ITALY

(2) Iran Khodro (1) STAFIM (3) SAIPA (4) Condor Electronics, Palpa Pro and l’Entreprise Nationale de Production de Machines-Outils (7) EASA and Nordex (8) SC Uzavtosanoat (9) THACO (10) Naza Automotive Manufacturing SDN BHD (11) PAN Nigeria Ltd (12) Allur Distribution and Saryarka AvtoProm LLP (13) PC Auto et Unison (14) MIE (Mesfin Industrial Engineering's) (15) Fiat (16) Mitsubishi Motors Corp (17) Toyota (18) TOFAS and FIAT (19) Dongfeng Motor Corp (20)Changan PSA Automobiles

OTHER LOCATIONS Industrial partners (1) STAFIM- (2) Condor Electronics, Palpa Pro and l’Entreprise Nationale de Production de Machines-Outils - (3) CKBIRLA- (4) URYSIA - (5) EASA andNordex - (6) THACO - (7) Naza AutomotiveManufacturing – (8) PANNigeria Ltd – (9) MIE (Mesfin Industrial Engineering’s) - (10) FIAT - (11) Mitsubishi - (12) Toyota - (13) Dongfeng Motor Corp. - (14) Changan PSA Automobiles - (15) HMFCL (Hindustan Motor Finance Corporation Limited) SALES LOCATIONS R&D centre (5) CK Birla (6) URYSIA

Vigo

Zaragoza

Mangualde

Madrid

Val di Sangro (10)

PORTUGAL

SPAIN

Countries where the Group operates with a subsidiary that commercializes vehicles and / or mobility services Countries where only mobility services of the Group are commercialized

Note: this does not include office facilities, head offices, IT sites, non-automotive businesses, or countries where Group vehicles are sold by an importer.

Partenaires industriels (cf. § 2.0.3.3.1) 2019 KEY FIGURES

(2) Iran Khodro (1) STAFIM (3) SAIPA (4) Condor Electronics, Palpa Pro and l’Entreprise Nationale de Production de Machines-Outils (7) EASA and Nordex (8) SC Uzavtosanoat (9) THACO (10) Naza Automotive Manufacturing SDN BHD (11) PAN Nigeria Ltd (12) Allur Distribution and Saryarka AvtoProm LLP (13) PC Auto et Unison (14) MIE (Mesfin Industrial Engineering's) (15) Fiat (16) Mitsubishi Motors Corp (17) Toyota (18) TOFAS and FIAT (19) Dongfeng Motor Corp (20)Changan PSA Automobiles revenue 74.7 billion euros (5) CK Birla (6) URYSIA

largest car manufacturer in Europe (16.8% market share in passenger car and LCV) 2 nd

Les inclusions ou exclusions au périmètre de reporting RSE sont précisées en § 8.4.1

adjusted operating margin of the Automotive division and the Group 8.5 %

Les inclusions ou exclusions au périmètre de reporting RSE sont précisées en § 8.4.1

3.2

3.5 million units sold worldwide

of free cash flow 3.3 billion euros

billion euros

net result, group share

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4 GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT

GROUPE PSA

1.1.

HISTORY AND HIGHLIGHTS OF THE COMPANY’S BUSINESS

1.5. 1.5.1. 1.5.2. 1.5.3.

RISK FACTORS DPEF.B

25 27 30 37 39 42

6

Strategy-related risks

Operational and industrial risks Financial and market risks

1.2. 1.2.1. 1.2.2. 1.2.3. 1.2.4. 1.3. 1.3.1. 1.3.2. 1.3.3.

ORGANISATIONAL STRUCTURE Group organisational structure – functions

7 7 7 8

Regulatory, legal and consumer risks 1.5.4.

1.5.5

Risks Related to the PSA-FCA Merger

Group organisation

Parent-subsidiary relationships Simplified organisational structure

1.6. 1.6.1.

VIGILANCE PLAN

45

at 31 December 2019

8

Mapping of the risks covered by the vigilance

plan

45

1.6.2.

Assessment of the situation in connection with risks covered by the vigilance plan

ACTIVITIES AND STRATEGY

9 9 9

46 47 48 48

Business model 

1.6.3.

Actions to mitigate risks

Main activities of the Group The Group’s strategic trends

Mechanism for alerting 1.6.4.

20

1.6.5.

Monitoring of the measures implemented

1.4.

RISK MANAGEMENT AND INTERNAL

CONTROL PROCEDURES

21

1.4.1. 1.4.2.

Internal control objectives for the Group

21 21 21

Reference framework

Internal control principles 1.4.3. Participants and processes 1.4.4.

22

Preparation and processing of accounting 1.4.5. and financial information Tasks underlying the preparation of the Report 1.4.6. on internal control

24

25

5 GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT

GROUPE PSA History and highlights of the Company’s business

HISTORY AND HIGHLIGHTS 1.1. OF THE COMPANY’S BUSINESS

Foundedin 1896, PeugeotS.A. engagedin manufacturingand sales until 1965, when it was transformed into a holdingcompanyas part of a legal and financial restructuringof the Group. Its operating activities were taken over bya subsidiary, Automobiles Peugeot. In 1974, Peugeot S.A. acquired all of the outstandingshares of CitroënS.A. andthen merged the two companies in 1976. In 1978, the Chrysler Corporation,an Americancompany,sold to PeugeotS.A.the stakein its industrialandcommercialsubsidiaries in Europe.Thebusinessof thesecompanies,whichwascontinuedunder theTalbotbrand,wasmergedwithAutomobiles Peugeot in 1980. In 1979, Chrysler Financial Corporation’s European commercial financingsubsidiarieswere acquired,markinga turningpoint in the developmentof the Group’s finance business. Aciers et OutillagesPeugeotmergedwith Cycles Peugeotin 1987 andwas renamedEcia.It thenbecameFaureciain 1998followingits friendlymergerwith automotiveequipmentmanufacturerBertrand Faure. In 2001, Faurecia acquired Sommer Allibert’s automotive equipmentbusiness. PSA Finance Holding, whose subsidiaries provide financing for Peugeotand Citroënvehiclesales, was transformedinto a bank in 1995. Its current name isBanque PSA Finance. The Automotivedivisionwas reorganisedin late 1998 to align legal structures with the new functional organisation introduced that year. AutomobilesPeugeotand AutomobilesCitroëntransferredall their motor vehicle development and manufacturing assets to Peugeot Citroën Automobilesand their capital equipmentdesign andmanufacturingoperationsto Process Conception Ingénierie. In 1992, a joint venturewith the ChinesegroupSAW(formername of DongfengMotor)was created,called ShenlongAutomobileand dedicatedto theproduction and sales inChina of the Citroën brand. In 2000,the joint venturewith the ChinesegroupDongfengMotor Group(DFG)was extendedto the brandPeugeotand changedits nameto DPCA. In 2011, a new joint venturewas created in China with the group Changan,called CAPSA, dedicatedto the productionand sales in China ofthe DSbrand. In February 2012, Automobiles Citroën sold Citer, a group specialising incar rentals,to the EntrepriseGroup. At the end of 2012, Groupe PSAsold 75% of the capitalof GEFCO S.A., the Group’sparentcompanywhich specialisesin Logistics,to JSC RussianRailways(RZD). Followingtheprojectto increasethe investmentof Groupe PSAand Renault in the capital of the subsidiariesFrançaisede Mécanique (Douvrin, Nord-Pas de Calais) and Société de Transmissions Automatiques (Ruitz, Nord-Pas de Calais), in December 2013 Groupe PSA tookexclusivecontrol ofFrançaisede Mécanique. At the end of March 2014,the Groupstrengthened its industrialand commercial joint arrangement with DongfengMotorGroup(DFG).

Following the signing of a framework agreement on European partnershipwith the SantanderGroup in Brazil in July 2014then in July 2015,all localpartnershipsbetweenBanquePSAFinance(BPF) and the Santander Group started operations. For more details, pleaserefer to Section 1.3.1.3 below. Moreover, to speed up the expansion of Peugeot Scooters, strengthen the brand and its products, and secure its future, Groupe PSA has entered on 19 January 2015 into a long-term strategic partnership withMahindra& Mahindra Group (M&M). On 31 March2015, the GroupacquiredMisterAuto, an e-commerce leader for spare parts for all automotivebrands on the European market. On 21 June2016, Groupe PSAand Iran Khodrosignedthe final joint venture agreement to produce latest-generation vehicles in Iran. On 29 July 2016, Faurecia sold its AutomotiveExteriorsbusiness, comprisingbumpersand front end modules,to CompagniePlastic Omnium. On 6 October2016,Groupe PSAandSAIPA,Citroën’spartnerin Iran since1966,signeda jointventureagreementto produceandmarket Citroënvehicles. In December 2016,Groupe PSAandAramisauto,the leaderin online sales of used vehicles (UV), entered into a capital and strategic alliance to accelerate the development of online sales of used vehiclesand relatedservices. On 25 January2017,the Groupe PSAand the CK BirlaGroupsigned joint venture agreements to produce and sell vehicles and components in India by2021. On 6 March2017,GeneralMotors(GM)andGroupe PSAannounced that they had enteredinto an agreementunderthe termsof which theGeneralMotorssubsidiaryOpelVauxhall(OV)andtheEuropean operationsof GeneralMotors Financial would joinGroupe PSA. On 1 August 2017, Groupe PSA announced the closing of the acquisitionof the Opel and Vauxhallsubsidiariesof GeneralMotors, for which the preliminaryagreementhad been signed on 6 March 2017. On 4 December2017, Groupe PSAand NidecLeroy-SomerHolding decidedto work togetherin France in the field of electrictraction motor. For this purpose, Nidec Leroy-Somer and Groupe PSA entered into a joint venture agreement. On 22 May 2018, the creation of a joint company, Nidec-PSAemotors, was approved. This new joint venture between Nidec Leroy-Somer and Groupe PSA focuses on designing and engineering, developing, manufacturing and selling electric tractionmotors. Followingthe United States’ announcementon 8 May 2018 that it waswithdrawing fromthe Irannucleardeal,theGrouphas complied with the new Americanregulationsby suspendingits operationsin Iranthat are affected by thesanctions. On 25 October2019,the Groupannouncedthat Mahindrawouldbe acquiring allthe sharesof PeugeotMotocycles tobolsterits growth. On 17 December2019, PeugeotS.A. and Fiat ChryslerAutomobiles N.V.signeda bindingCombinationagreementprovidingfor a 50/50 merger of their businesses to create the 4th largest global automotiveOEMby volumeand3rd largest byrevenue.

6 GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT

GROUPE PSA Organisational structure

ORGANISATIONAL STRUCTURE

1.2.

Group organisational structure – functions

1.2.1.

The Group’ssimplified functional organisational structureat 21April2020is set outas follows:

MANAGING BOARD

Chairman of the Managing Board Carlos TAVARES

Programmes and Strategy Olivier BOURGES

Opel Vauxhall Michael LOHSCHELLER

Europe Maxime PICAT

EXECUTIVE COMMITTEE

Peugeot brand Jean-Philippe IMPARATO

DS brand Béatrice FOUCHER

Citroën brand Vincent COBEE

Latin America Patrice LUCAS

Quality and Customer Satisfaction Jean Christophe QUEMARD

Research and Development Nicolas MOREL

India-Pacific Emmanuel DELAY

Manufacturing & Supply Chain Yann VINCENT

Middle East and Africa Samir CHERFAN

Finance Philippe De ROVIRA

Global Purchasing and Supplier Quality Michelle WEN

Human Resources and Transformation Xavier CHÉREAU

Corporate Secretary China and Asia Grégoire OLIVIER

Free2Move Brigitte COURTEHOUX

VPS REPORTING TO THE CHAIRMAN OF THE MANAGING BOARD

Motorsports Center of Excellence Jean-Marc FINOT

Sales and Marketing Thierry KOSKAS

Communication Bertrand BLAISE

Style Jean-Pierre PLOUÉ

Group organisation 1.2.2.

The executivemanagementof Groupe PSAis the responsibilityof theManaging Board, which is presented in detail in Section 3.1 below. The Managing Board is responsiblefor executive leadership and financialmanagement. It helpsto defineand implementthe Group’s strategic vision developed in accordance with the long-term objectivesset bythe Supervisory Board.

The Managing Board is backed by the Executive Committee. The latteris organisedin a matrixstructureby brands,regionsand business lines. This structureaims to secure worldwideprofitable growth for the Group. Each region is supervised by a Chief OperatingOfficer (COO), who is responsiblefor economicprofit and the managementof Group resourcesin the region, including manufacturingand sales companies.This responsibility is exercised in partnershipwiththeGroupbrands andbusiness lines. In addition, four business line VPs report to the Chairmanof the ManagingBoard.

7 GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT

GROUPE PSA Organisational structure

Parent-subsidiary relationships 1.2.3.

As the Group’s holding company, Peugeot S.A. is not directly involvedin anymaterialoperating activities. Peugeot S.A. has a normal parent company relationshipwith its subsidiaries.Themaineventsin this relationshipare reviewedin the Company’sfinancialstatementsin Section 6.4.Please refer as well to Note 18 to the 2019 ConsolidatedFinancial Statements for a

detailed description of Group related party transactions, in particularwithequity-accounted entities. For further information, please refer to the Statutory Auditors’ SpecialReporton relatedpartyagreementsandCommitments (see Section 6.7below).

Simplified organisational structure at 31 December 2019 1.2.4.

PEUGEOT S.A.

AUTOMOTIVE EQUIPMENT DIVISION

FINANCE DIVISION

AUTOMOTIVE DIVISION

OPEL VAUXHALL

FAURECIA

PSA AUTOMOBILES

OPEL AUTOMOBILES

AUTOMOBILES PEUGEOT

AUTOMOBILES CITROËN

DS

BANQUE PSA FINANCE

Interior Systems, Automotive Seating and Emissions Control Technologies

Retail financing to customers of the five brands and wholesale financing to their dealer networks

Design and production

Trade

Subsidiaries and entities in the dealership network (passenger cars and light commercial vehicles) Subsidiaries and entities in the dealership network for replacement parts

Manufacturing companies and entities jointly-owned with other car manufacturers (refer to Section 1.3.2.1.4).

At 31 December2019, therewere 456 entitiesincludedin the scopeof consolidation.A comprehensive list is found in Note 21to the 2019 ConsolidatedFinancial Statements (seeSection 5.6below).

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GROUPE PSA Activities and strategy

ACTIVITIES AND STRATEGY

1.3.

Business model  DPEF.A

1.3.1.

INPUTS CAPITAL

OPERATING ACTIVITIES

OUTPUTS

OUTCOMES

PRODUCTS

VALUE CREATION FOR STAKEHOLDERS

FINANCIAL Financial capacity to finance the economic development, either in-house or from financial markets INDUSTRIAL Manufacturing resources available for production, research and development, logistics. INTELLECTUAL Intangible assets such as intellectual property and organisational capital RELATIONAL Stakeholder relations : ability to share information, brands and reputation HUMAN Motivation of employees to be innovative and adhere to the values of the company

ECO-DESIGN

A GREAT CAR MAKER WITH CUTTING EDGE EFFICIENCY

DEVELOP PRODUCTS AND SERVICES

INVESTORS AND SHAREHOLDERS Dividend to be distributed

BUY AND MANUFACTURE

to shareholders: €1.23 per share*

CUSTOMERS Recommendation rate:

+4pts (purchase of new vehicles) and +6pts (after-sales) vs 2018

EMPLOYEES Redistribution to employees multiplied by 5.4 in six years

SERVICES A MOBILITY PROVIDER FOR A LIFETIME CUSTOMER RELATIONSHIP

USE

Raw materials

SUPPLIERS AND PARTNERS Joint innovation: more than 300 suppliers involved in projects to develop future technologies

SELL, DELIVER, AND MAINTAIN

HOST COMMUNITIES AND CIVIL SOCIETY Local sourcing rate: 89% in Europe

USED CARS SPARE PARTS AND AFTER-SALES SERVICES

MOBILITY SERVICES

LIFE FRIENDLY ENVIRONMENT 37% of the R&D budget devoted to clean tech

ENVIRONMENTAL Renewable and non- renewable environmental processes and resources.

RECYCLE

MANAGE PRODUCT END-OF-LIFE

* Dividend persharecalculated onthebasisof thetotalnumber of outstanding sharesof thecompany minusthetreasury sharesof thecompany as of 25 February 2020.Theactual dividend persharewilldepend onthenumber oftreasury shares heldattheex-dividendateandanyshares issued orcancelled prior to this date.

Main activities of the Group 1.3.2.

Groupe PSA’s operations are organised around three main segments: the Automotive segment, covering mainly the design, n manufactureand sale of passenger cars and light commercial vehicles under the Peugeot, Citroën, DS, Opel and Vauxhall brands;

the AutomotiveEquipmentsegment,comprisedof the Faurecia n Group,which specialisesin Interiors,Seating,CleanMobility,and cockpitelectronicsand softwareand advanceddriverassistance systems(ClarionElectronics); the Financesegment,corresponding to the BanquePSA Finance n Group(BPF),financessalesto customersof the Peugeot,Citroën, DS, Opel and Vauxhall brands and its dealer networks.BPF is classifiedas a financial institution.

The breakdown of revenue and adjustedoperatingincome byactivity isas follows:

Revenue

Adjusted operating income

2019

2018

Change

2019

2018

Change

(in million euros)

Automotive

58,943 58,553

390 243

5,037 1,227

4,466 1,263

571

Faurecia

17,768 (1,980) 74,731

17,525 (2,051) 74,027

(36) 100 635

Other businesses and eliminations*

71

60

(40)

TOTAL

704 6,324

5,689

Group sales (in thousands of new vehicles) -10.3% Including the activities of Banque PSA Finance not covered by the partnership signed with Santander Consumer Finance. * 3,479 3,878

Regardingsegmentinformation– businesssegmentsand principalmarkets– please refer to Note 4 to the 2019 ConsolidatedFinancial Statements(seeSection 5.6below). Information on the revenueand resultsof the variousoperating segments is presented in Section 4.1 below.

9 GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT

GROUPE PSA Activities and strategy

AUTOMOTIVE DIVISION

1.3.2.1.

2019was a year of consolidation for Peugeot.The brandcompletely renewedits B segmentofferingto supportits sales growthin 2020. Thenewelectrified range,drivenby thePeugeote-208ande-2008,as well as the plug-inhybridversionsof the Peugeot3008Hybridand 508Hybridsedan& SW,arefullyavailable forB2BandB2Ccustomers and feature among thelowestCO 2 emissions of the market. Citroën had the strongest growth among the top 12 best-selling brandsin Europe,increasingits marketsharesin the mainmarkets. Its performance was notably driven by the C5 Aircross SUV, launchedin January 2019,whichwill be availablein a plug-inhybrid versionin 2020. DS Automobilessales surgedglobally,especiallyin the secondhalf of the year (+56%)driven by the successof its renewedrange. In France, DS main market, the successfulDS7 Crossbackand DS3 Crossback models are now strongly positioned and the brand’s performance is being enhanced by the growing exclusive DS network, with356 pointof sales todate. Opel Vauxhallfocusedits strategyon profitablesales channelsand market segments. Through the consistent implementationof the core model strategy, Opel Vauxhall have taken steps toward ambitious future CO 2 targets. The Grandland X (+29%) and Crossland X(+28%) SUVs and the LCVs (+20%) were particularly successful. Middle East– Africa:market share increase inmajor markets Groupe PSA’smarket share increasedby 0.4pt in the region with registrations up 9,100 units compared to 2018, despite markets decliningby 100,000 units (4) . Strong breakthroughswere made in Turkey(+2.1pt),Egypt (+6.1pt)and Morocco(+2.1pt).2019 regional performance versus 2018 remainedimpactedby the wind down in Iran (May 2018) (5) . The productionstarted mid-September 2019 in the Kenitra plant, in Morocco. The production capacity will be doubled toreach200,000 vehicles as early asMid-2020. China & Southeast Asia: reshaping the business model DPCAhas set out its prioritiesin a six-yearstrategicplanpresented last September,basedon profitablesales, a lower breakevenpoint and a progressiveincreasein volumesfor the Peugeotand Citroën brands. The DS brand is committed to the Chinese market and finalizesa new strategicplan. The sale of Groupe PSAsharesin the CAPSAjointventureis partof thisplan.2020will be the firstyearof Groupe PSA’sNEV offensivein China, with five NEV modelsto be launchedand sold in China (6) . In ASEAN,the Group’sMalaysianhub NAM (7) startedproduction with the Peugeot3008 and5008. Latin America: contractingmarkets Marketswere hard hit in Argentina(-43%) and Chile (-11%) by the economicand politicalsituations.Drivenby the successof the new SUV C4 Cactus and the LCV offering,Groupe PSAsales remained brisk in Mexico (+13%), Brazil (+2%) and in smaller markets (Colombia, Cuba, Ecuador andUruguay).

Significant eventsof the sales 1.3.2.1.1. activities in 2019 Worldwide sales at3.5 millionunits in 2019 Electrificationon track: 10 (1) new models launched as a first n milestonetoward a 100% electrified range by 2025. Solidposition in Europe: 16.8% market share. n International businesses focused on profitable growth and n manufacturing footprintdevelopment. Becoming a majorplayer inelectric mobility Groupe PSA has already launched 10 new plug-in hybrid or all-electric models, in line with its roadmap to offer a 100% electrifiedrange (2) from2025,of which50%will be electrifiedby the endof 2021 with 13 additional electrified models. Since 2019, all new models launched by Groupe PSAcome with either an all-electricor a plug-inhybridpowertrain.LEV ordersare promisingand in line with Group objectivesto be compliantwith European2020 CO 2 target fromDay 1. The Companymobilizesits recognizedexpertiseand workswith its partnersand dealersto meet customerexpectationsby producing and offering competitive line-up, with easy and state-of-the-art servicesfor day-to-day life. Growing LCVsales Groupe PSA hashistorically offeredbest-in-class products to coverthe full diversityof customerneeds.In 2019,theGroupsold765,000 units (of which554,000 light commercial vehicles(LCVs)and211 derivative passengercars (PCs)), and consolidatedits positionwith a 25.1% marketsharein Europe (3) , in particulardrivenbythesuccessful renewal of itssmall and medium vans i thelastthreeyears. The PeugeotExpert, Citroën Jumpy and Opel Vivarowill come in all-electric versions from 2020 and the whole LCV range (and passengercarequivalents)electrifiedby 2021. The Group’sLCVdevelopment is advancingat a goodpace in Latin America,wherethe Grouplauncheda comprehensive rangeof LCV productsand services,and in Eurasia,withthe Peugeot,Citroënand Opelmedium vanmodels.

The Group’s markets 1.3.2.1.2. Europe: focused onperformance Leveragingdisciplinedmanagemento meet CO

2 targets,the Group maintained its positionby achievinga 16.8%marketsharein a market that was up a slight1.3%, by growingin mainmarkets,particularly in Italy(+0.5pt)andSpain(+0.2pt),andby maintaining its marketshare in Franceandthe UnitedKingdomwhileslightlydeclining in Germany (-0.6pt).

4 BEV: DS3 Crossback E-Tense, Peugeot e-208 and e-2008, Opel Corsa-e and 6 PHEV: Peugeot 3008 Hybrid, 508 Hybrid and 508 SW (1) Hybrid, Citroën C5 Aircross Hybrid, Opel Grandland X Hybrid4, DS7 Crossback E-Tense 4x4. BEV = Battery Electric Vehicle and PHEV = Plug in Hybrid Vehicle. All-electric or plug-in hybrid. (2) LCV market share excluding PC versions. (3) Excl. Iran. Estimation at 16 January. (4) Volumes manufactured in Iran have not been recorded in consolidated sales since 1 May 2018. (5) NEV = New Energy Vehicles/2 BEV: Peugeot e-2008, DS3 Crossback E-Tense and 3 PHEV: Peugeot 508L Hybrid and 4008 Hybrid, C5 (6) Aircross Hybrid. Naza Automotive Manufacturing. (7)

10

GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT

GROUPE PSA Activities and strategy

India-Pacific:sales growthin Japan Sales grew slightly in the region despite declining markets. plant),with its partnerAVTECLtd (a CK Birla GroupCo.) and is on The recurring success in Japan continued with sales up 20%. trackto launchthe C5 AircrossSUV in India in 2020,to be followed Groupe PSAstartedthe productionof transmissions in India (Hosur in 2021 bynewanddisruptiveCitroënmodelsdesigned locally. Eurasia:relaunchof the Opel brand

Sales increasedin the region in H2 2019,especiallyin Ukraineand Russia. The Group improves faster than the market in Ukraine, thanksto all four brands.TheOpelbrandstrengthened its presence in the Ukrainianmarketat the beginningof 2019 and the DS brand waslaunchedin H2 2019.

Whereas the Russian market was down -2.3%, Group LCV sales increased with the Peugeot Traveller/Expert and the Citroën SpaceTourer/Jumpy. TheGrouprecentlyrelaunchedtheOpelbrand in Russia,starting with the Zafira Life and Grandland Xmodels.

A fewkey figures 1.3.2.1.3. Consolidatedworldsales(CWS)by region

Region

Brand 2018 volume

% 2019 volume

%

%Chg

Europe

Peugeot 1,231,327 31.75% 1,195,939 34.37% -2.87% Citroën 824,623 21.27% 831,599 23.90% 0.85% DS 46,013 1.19% 55,877 1.61% 21.44% Opel Vauxhall 1,004,197 25.90% 936,321 26.91% -6.76% Groupe PSA 3,106,160 80.10% 3,019,729 86.80% -2.78%

Middle East and Africa (2)

Peugeot Citroën

223,838 5.77% 34,731 0.90% 1,440 0.04%

84,294 42,901

2.42% -62.34% 1.23% 23.52% 0.05% 30.49% 1.01% 10.01% 4.71% -43.74% 1.83% -55.75% 1.47% -55.28% 0.06% -46.65% 0.01% -57.31% 3.37% -55.41% 2.37% -26.78% 1.47% -15.15% 0.02% -14.96% 0.03% -1.44% 3.90% -22.55% 0.54% -6.23% 0.19% 17.15% 0.04% 52.35%

DS

1,879

Opel Vauxhall

31,989 0.82%

35,192

Groupe PSA 291,998 7.53% 164,266

China & ASEAN

Peugeot Citroën

143,628 3.70% 114,419 2.95% 3,955 0.10%

63,559

51,167

DS

2,110

Opel Vauxhall

581

0.01%

248

Groupe PSA 262,583 6.77% 117,084

Latin America

Peugeot Citroën

112,774 2.91% 60,404 1.56%

82,569 51,252

DS

969 0.02%

824

Opel Vauxhall

1,110 0.03%

1,094

Groupe PSA 175,257 4.52% 135,739

India and Pacific

Peugeot Citroën

19,987 0.52%

18,741 6,632 1,266

5,661

0.15%

DS

831 0.02%

Opel Vauxhall

0 0.00%

0 0.00%

NS

Groupe PSA 26,479 0.68% 26,639

0.77% 0.60% 0.25% 0.70% 0.18% -1.39%

Eurasia

Peugeot Citroën

8,660 0.22%

8,721 6,302

6,391

0.16%

DS

57 0.00%

40 0.00% -29.82%

Opel Vauxhall

180 0.00%

576

0.02% 220.00% 0.45% 2.30% 41.79% -16.46% 28.45% -5.39% 1.78% 16.38%

Groupe PSA 15,288 0.39% 15,639

TOTAL

Peugeot

1,740,214 44.88% 1,453,823

Citroën 1,046,229 26.98% 989,853

DS

53,265 1.37%

61,989

Opel Vauxhall

1,038,057 26.77% 973,431 27.98% -6.23% Groupe PSA 3,877,765100.00% 3,479,096 100.00% -10.28%

Including CKD kits. (1) Including 141,000 vehicles sold in 2018 under Peugeot license by Iran Khodro until 30 April 2018. (2)

11 GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT

GROUPE PSA Activities and strategy

GROUPE PSA– WORLDWIDESALESBY MODEL

Brand

Model

2018 volume

2019 volume

ION 108 206 208 301 308 408 2008 3008 4008

1,895

759

PEUGEOT

59,573 60,800 295,058 218,640 46,240 209,560 30,421 265,125 29,436 80,252 17,395 109,900 145,243 57,978 72,938 20,419 604

58,443

0

277,279 184,188

25,611

164,354

11,474

241,550

15,351

405 508

0

59,912 99,896

5008

BIPPER

1

PARTNER

101,893 58,818 71,769

EXPERT BOXER

TRAVELLER

14,174

PEUGEOT PICK UP

251

914

RIFTER

18,494

67,437

TOTAL PEUGEOT

1,740,214

1,453,823

CITROËN

C-ZERO

1,539

1,323

E-MEHARI

385

62

C1

52,754 252,117 7,970 122,813 67,251 15,975 78,908 44,479 76,433

52,606 240,522

C3

C3 MPV

3,081

C3 AIRCROSS

113,578 39,951 5,383 75,971 5,725 48,779

C-ÉLYSEE

C3-XR

C4 CACTUS

C4

C4 SPACETOURER

C4 AIRCROSS

781

2,643

C5

5,082 29,779

725

C5 AIRCROSS

121,879

C6

3,925

2,429

NEMO

798

5

BERLINGO

159,792 43,901 62,794

153,640 44,995

JUMPY JUMPER

63,351 13,205

SPACETOURER

18,753

TOTAL CITROËN

1,046,229

989,853

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GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT

GROUPE PSA Activities and strategy

Brand

Model

2018 volume

2019 volume

DS3 DS4 DS5 DS6

16,187 4,977 3,160

5,049

DS

44 215

592 563

298

DS3 CROSSBACK DS7 CROSSBACK

24,088 32,262

27,786

OTHER

0

33

TOTAL DS

53,265 45,600

61,989 31,279 4,400

OPEL VAUXHALL

ADAM

AMPERA-E

2,406

ANTARA

126

0

ASTRA

181,661

155,752

CASCADA

1,974

1,277

CORSA

235,639 102,424 79,976

229,911 130,307 102,897 50,944 40,943

CROSSLAND X GRANDLAND X

INSIGNIA

71,341 48,201

KARL/VIVA

MERIVA

2,519

5

MOKKA X MONARO

118,487

67,979

63

0

ZAFIRA COMBO

30,324 28,269 24,504 64,543

11,906 63,103 26,483 54,279

MOVANO VIVARO

ZAFIRA LIFE

0

1,966

TOTAL OV

1,038,057 3,877,765 2,392,871 446,837 1,596,353 1,235,229

973,431

TOTAL GROUPE PSA

3,479,096 2,066,060 439,605 1,300,154 1,184,235

Of which PCD

Passenger cars (PC)

Light Commercial Vehicles (LCV)

PC + CV, of which:

Petrol Diesel

Electric Hybrid

8,053

13,123 8,153

73

Of which OV

Passenger cars (PC)

944,073

860,759

Light Commercial Vehicles (LCV)

93,984

112,672

PC + CV, of which:

Petrol Diesel

NA NA NA NA NA

685,485 280,364

Electric

4,483 1,444 1,655

CNG/Gas

Hybrid

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GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT

GROUPE PSA Activities and strategy

Existing or planned material property, plantand equipment 1.3.2.1.4. TheGroup’sgeographicalbreakdown in 2019was as follows:Europe92.6%(andsome35.2%in France),SouthAmerica1.9%,Asia5.2%and the MiddleEast/Africa0.3%. ManufacturingFacilities ASSEMBLYPLANTS

Models manufactured at 31 December 2019

Manufacturing centres

2018 output

2019 output

Madrid (Spain)

C4 Cactus

70,760

53,116

Partner, Berlingo, Combo 2008, 508, 508 SW, DS7 Crossback 208, 308, 408, C4 lounge, Partner, Berlingo 2008, 208, C3, C3 Picasso Aircross, C4 Cactus C5 Aircross, 5008 Expert, Traveller, Jumpy, Space Tourer, Vivaro 308, 308 SW, 3008, GrandLand X 208 elec+comb, C3 Aircross 2008, Berlingo, Partner, Combo, Berlingo, Partner, C-Elysée, 301, C4 Space Tourer, Grand C4 Space Tourer Astra, Astra Sports Tourer Vivaro, Jumpy, Expert, Space Tourer, Traveller, Zafira Life 208, DS3

Mangualde (Portugal)

63,090

77,590

Mulhouse (France)

244,713

232,277

Buenos Aires (Argentina)

36,006 175,252

8,526

Poissy (France)

147,872

Porto Real (Brazil) Rennes (France)

77,750 101,069

52,321 154,081

Hordain (France)

137,070

119,324

Sochaux (France)

501,319

514,684

Trnava (Slovakia)

352,007

371,152

Vigo (Spain)

398,340

406,662

Ellesmere Port (England)

76,963

61,725

Luton (England)

62,643

55,085

Corsa, Adam, Grandland X Astra, Cascada

Eisenach (Germany)

84,923 106,457

59,955 88,180

Gliwice (Poland)

Zafira Tourer, Insignia Grand Sport, Insigna Sports Tourer C3 Aircross, Adam, Corsa, Corsa Van, Mokka, Crossland X

Rüsselsheim (Germany)

123,277

55,064

Zaragoza (Spain) Kenitra (Morocco)

447,396

470,507

208

-

8,373

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GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT

GROUPE PSA Activities and strategy

MANUFACTURINGCOMPONENTPLANTANDFOUNDRIES

Caen (France)

Chassis systems and transmissions

Charleville (France)

Aluminium and iron castings Petrol and diesel engines

Douvrin Française de Mécanique (France)

Engines, gearboxes: small-scale assembly and reconditioning

Hérimoncourt (France)

Metz (France)

Gearboxes

Mulhouse components (France)

Chassis systems and PHEV rear suspensions

Pressurised aluminium castings, steel forge, tooling Flex-fuel and petrol engines

Mulhouse foundry (France) Porto Real (Brazil) Saint-Ouen (France) Sept-Fons (France) Trémery (France) Valenciennes (France) Rüsselsheim (Germany) Kaiserslautern (Germany)

Stamping

Iron castings and brake parts machining Petrol, diesel and electric engines

Gearboxes and reduction gears

Transmissions Diesel engines

Aspern (Austria)

Petrol engines and gearboxes Petrol and diesel engines

Szentgotthard (Hungary)

Tychy (Poland)

Petrol engines

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GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT

GROUPE PSA Activities and strategy

SUBSIDIARIESJOINTLYOWNEDWITHOTHERCARMANUFACTURERS

Annual output 2018

Annual output 2019

(situation at 31 December)

Manufacturing

Outside France Sevelsud, Società Europea Veicoli Leggeri (Italy) 50% PSA Automobiles SA

Peugeot Boxer Citroën Jumper

73,432 62,718 128,826

72,059 64,372 136,431

50% Fiat

Total

DPCA, Dongfeng Peugeot Citroën Automobiles (Wuhan, Chengdu, China) 50% PSA Automobiles SA

C-Elysée, C3-XR, C4, C4 Lounge, C4 Aircross, C5 Aircross, C6, 301, 2008, 308, 408, C5, 4008, 5008, 508

50% Dongfeng Motors

247,601 247,601

106,034 106,034

Total

TPCA, Toyota Peugeot Citroën Automobiles (Kolin, Czech Republic) 50% PSA Automobiles SA

Peugeot 108

60,139 53,134 113,273

58,347 52,901 111,248

50% Toyota Motor Corporation

Citroën C1

Total

PCMA Rus (Kaluga, Russia) 70% PSA Automobiles SA

Spare Tourer, Traveller, Jumpy, Expert, Citroën C4 Sedan, Peugeot 408, Opel Zafira Life

30% Mitsubishi Motors Company (MMC)

5,242 5,242

4,478 4,478

Total

CAPSA, Changan PSA Auto Company Ltd (Shenzhen, China) 50% PSA Automobiles SA 50% Changan SCC (Saipa Citroën Company) (Iran) 50% PSA Automobiles SA 50% SAIPA IKAP (Iran Khodro Automobiles Peugeot Company) (Iran) 50% PSA Automobiles SA 50% Iran Khodro

DS7 Crossback

4,013 4,013

311 311

Total

C3

21 21

- -

Total

2008, 301, 208

3,084 3,084

- -

Total

Other joint ventures Mizushima (Japan) Mitsubishi Motors Company cooperation agreement Bolloré (Rennes) Bolloré cooperation agreement

Citroën C-Zéro, Peugeot iOn

3,132

2,232

E-Méhari

376

-

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GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT

GROUPE PSA Activities and strategy

Annual output 2018

Annual output 2019

(situation at 31 December)

Manufacturing

NORDEX (Uruguay)

Space Tourer, Traveller, Expert, Jumpy

Nordex cooperation agreement Dongfeng (China – DFPV2) Dongfeng cooperation agreement Dongfeng Nissan (China) Dongfeng cooperation agreement Changwon GMK (South Korea) General Motors cooperation agreement Bupyeong GMK (South Korea) General Motors cooperation agreement Orion GMNA (United States) General Motors cooperation agreement TOFAS (Turkey) TOFAS cooperation agreement Sandouville (France) Renault cooperation agreement Batilly (France) Renault cooperation agreement Iran Khodro (Iran) Iran Khodro cooperation agreement

4,590

4,424

2008

4,872

-

Peugeot Pick Up

1,105

-

Karl, Viva

43,585

35,930

Mokka

72,396

29,192

Ampera-E

2,110

4,500

Combo

11,955

-

Vivaro

879

572

Movano

23,195

26,241

Peugeot 405, 206, 207

141,052

-

NAM Naza Automotive Manufacturing (Vietnam)  Coopération Naza Corporation Holdings

3008, 5008

-

2,580

For more informationon property,plant and equipment,please refer to Note 8.2 to the 2019 ConsolidatedFinancial Statements(see Section 5.6 below). PSA Aftermarket: After-Sales, Maintenance, Repair andSpare Parts

all authorisedand independentrepairersseekingthe best service.A similar offer is being rolled out in Latin America, through joint venturesin Brazil and Argentina,and in China,particularlywith the acquisitionof stakesin the sparepartsdistributorsJianXin andUAP in 2018 and LongXinDa in 2019. An additional destination was openedin 2019 witheight new DISTRIGO hubs inTurkey. Groupe PSAalsoprovidesan InternetofferwiththeMisterAuto.com on-line parts sales website, establishedin 19 countriesacross the world, and the Autobutler platform, which generates estimates on-linefor automotive servicing and repairs. In after-sales,the Group relies on a network of 18,000 authorised repairers for the Peugeot, Citroën, DS Automobiles and Opel-Vauxhallbrands,and on EuroreparCar Service,a multi-brand automotivemaintenanceand repair retailer.EuroreparCar Service continuedits growth trend, with 5,000 garagesin 26 countriesat end-2019,and it aims to have 8,000 garages in 2021 and 10,000 in 2023. PSA Aftermarket continued digitising its network with the developmentof the Video Check system andonlinebooking. VideoCheckis availableat around1,900 pointsof sale,withthegoal of reaching4,000 pointsof sale by the end of 2020,in 25 countries and four regions in the world. The online bookingbusiness,which startedin 2019, has taken600,000 reservations, and this numberis expectedto risein 2020. The environmental issuesthatmay influencethe use of theseassets by Groupe PSA are presented below in Chapter 2.

In after-sales, the Push to Pass plan has materialised a sales offensive designed to satisfy all customers’ needs world-wide, regardlessof their purchasingpower, their vehicle’sbrand or age. The Grouphas thus shiftedfroman offeringfocusedon the original parts of its automotivebrandsto one that encompassesthe entire market of independent repair, across the motor-vehicle fleet, spanning thewholevalue chainof the global after-sales market. Within PSA Aftermarket, this offering includes original parts, a Eurorepar distributor label, parts sourced from its equipment suppliers and an additional offering of parts from the circular economy. At 31 December 2019, 28 spare parts stores managed 400,000 items for Groupbrandsandotherbrands:Vesoul(France), Rüsselsheim and Bochum (Germany), Mszczonów and Natolin (Poland), Villaverde & Zaragoza (Spain), Pregnana (Italy), Luton (United Kingdom), Budapest (Hungary), Porto Real (Brazil), Pacheco (Argentina), Santiago (Chile), Toluca (Mexico), Kaluga (Russia), Kiev (Ukraine), Boufarik (Algeria), Istanbul & Izmir (Turkey), Port Elizabeth (South Africa), Shimizu (Japan), Wuhan (China-DPCA), Shanghai (China-DPCA), Beijing (China-DPCA), Chengdu (China-DPCA), Guangzhou (China-DPCA), Shanghai (China-CAPSA) and Shenzhen(China-CAPSA). The DISTRIGOdistributor,which debutedin 2016, is continuingits offensive.In Europe,it comprises150 spareparts hubs servingthe Peugeot,Citroën,DS Automobilesand Opel-Vauxhallnetworksand

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GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT