PSA - 2019 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS AT 31 DECEMBER 2019 Notes to the Consolidated Financial Statements at 31 December 2019

2018 performanceshareplan (d) A performanceshareplanwas established in 2018.The allocationof performancesharesis subjectto a conditionof presencewithinthe Groupat the endof the vestingperiod.In lightof the objectives,the shares will vest in two equal parts subject to presencewithin the Companyat 10 April2021 and 10 April2022.The personnelexpense associatedwith this plan, measuredin accordancewith IFRS 2,was €13.2 millionfor 2019, excludingpayrolltaxes (€9.5 millioneuros in 2018). 2019performanceshareplan (e) Following the authorization given by the Extraordinary Shareholders’Meetingof 24 April2018 and the SupervisoryBoard at its meeting of 25 February2019, the Peugeot S.A. Managing Boardadopteda performanceshareplan effectiveat 20 May2019, subject to performanceconditions.This plan covers a maximum total of 3,100,000 shares.The allocationof performanceshares is subjectto a conditionof presencewithin the Group at the end of the vestingperiod. The definitiveacquisitionis subject to achievingthe performance objectivesrelatedto: Profitability through the average percentage of adjusted n operating income of the Automotive division; Quality through theGroupWorldAutomotive quality failure rate; n Compliancewithenvironmental requirements throughthe levelof n CO 2 emissions. Reaching these performanceobjectiveswill be evaluated over a periodof three years (2019to 2021). Given these objectives,the shares will be acquired in two equal portionson 23 May2022and23 May2023,subjectto a conditionof presenceat the date of 31 Decemberthat precedesthe end of the vestingperiod concerned. The personnelexpenseassociatedwith the 2019 plan, measuredin accordancewithIFRS 2,was€8.2 millionfor the year2019,excluding payroll taxes. Faurecia performance share plan (2) In 2010, Faurecia established a performance share plan for executivesof groupcompanies.Thesesharesare subjectto service andperformance conditions. The amountrecognisedin income for the period is an expenseof €18.9 million(comparedwith an expenseof €20 millionin 2018 and of €21.1 million in 2017).

The shares previously purchased on the market are definitively acquiredat the end of an acquisitionperiodof three or four years fromthe date of allocationfor the 2016 and subsequentplans.This acquisition is subject to a presence condition as well as performance conditions. Performance share plans – Share-based compensationcosts The expensecorrespondsto the fair valuedeterminedby reference to the instruments allocated. The expense thus calculated is distributed linearly over the vestingperiod. For free share allocationplans, the fair value is determinedon the basis of the share price on the grant date less the distributionof dividendsexpected during the vestingperiod. 2015 performanceshareplan (a) A performanceshare plan was established in 2015. The vesting periodendedon 31 March2019.As at 31 December2019,thereis no share potentiallyattributable.The personnel expenses associated with this plan,measuredin accordancewith IFRS 2,was €1.4 million euros for 2018, and €4.4 millioneuros in 2017, excluding payroll taxes. 2016performanceshareplan (b) A performanceshareplanwas established in 2016.The allocationof performancesharesis subjectto a conditionof presencewithinthe Group at the end of the vestingperiod. Taking into consideration the performancetargets, the shares will vest in two equal parts subject tocontinued employment on 3 June 2019 and 3 June 2020. The personnel expenses associated with this plan, measured in accordancewith IFRS 2,was €4.8 millionfor 2019,excludingpayroll taxes (€7 million euros in 2018and€7.1 million euros in 2017). 2017 performanceshareplan (c) A performanceshareplanwas establishedin 2017.The allocationof performancesharesis subjectto a conditionof presencewithinthe Group at the end of the vestingperiod. Taking into consideration the performancetargets, the shares will vest in two equal parts subject to continued employmenton 14 April 2020 and 14 April 2021.Thepersonnelexpensesassociatedwiththis plan,measuredin accordancewith IFRS 2,was €11.0 millionfor 2019,excludingpayroll taxes (€11 million euros in2018and€7.5 million euros in 2017).

The details of performance shareplans atyear-end 2019are provided in the following table:

Maximum number of performance shares (1)  due if: objective achieved objective exceeded

(number of shares)

Date of Managing Board decision: 20/07/2017

520,181 395,952 899,350

676,200 501,740 1,169,900

19/07/2018 09/10/2019

Net of free shares granted cancelled. (1)

Theperformanceconditionsfor theplanattributedby theBoardof 23 July2015havebeenmet,the corresponding shares, i.e. 594,666have beendefinitelydistributed in July 2019.Theperformanceconditionsfor the planattributedby theBoardof 25 July2016havebeenmet,the corresponding shares, i.e. 595,201 willbe definitelydistributed in July 2020.

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PSA - GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT