PSA - 2019 Universal Registration Document

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.

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