PSA - 2019 Universal Registration Document

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

CHANGES IN THE CARRYING AMOUNT OF EQUITY METHOD INVESTMENTS 11.1.

31 December 2019 31 December 2018 31 December 2017

(in million euros)

At beginning of period

3,444

3,472 (145)

3,014 (369)

Dividends and profit transfers

(251) (24)

Share of net earnings

(44)

217

Newly consolidated companies Capital increase (reduction)

182

13

555

334

210

57

Changes in scope of consolidation and other

(378)

(37) (25)

108

Translation adjustment

16

(110)

AT PERIOD-END

3,323

3,444

3,472

O/w Dongfeng Peugeot Citroën Automobile goodwill

77

76

75

O/w Dongfeng Peugeot Citroën Automobile Finance Company Ltd goodwill

2

3

2

O/w Saipa Citroën Company goodwill

-

-

90 57

O/w GEFCO goodwill

93

57

O/w Auto Avaliar and UAP goodwill

11

-

-

SHARE IN NET ASSETSOF EQUITYMETHOD INVESTMENTS 11.2.

Latest% interest

31 December 2019

31 December 2018

31 December 2017

(in million euros)

Dongfeng Peugeot Citroën Automobile (1) - Dongfeng Peugeot Citroën Automobile Sales Co Dongfeng Peugeot Citroën International Co

50% 50% 50%

269

645 (65)

897

Changan PSA Automobiles Co., Ltd -

(123)

(190)

Saipa Citroën Company -

-

-

140

Other -

49

10

11

Automotive Peugeot Citroën DS

195

590 144 166 (11) 155 889

858 136 156

Automotive equipment

240

GEFCO (1) -

25% 49%

161

Peugeot Scooters (2) -

-

-

Other activities

161

156

Manufacturing and sales activities

596

1,150

Finance companies in partnership with Santander Consumer Finance Finance companies in partnership with BNP Paribas Dongfeng Peugeot Citroën Automobile Finance Company Ltd (1)

50% 50%

1,899

1,685

1,535

590

588

493

25%

115

99

88

Finance activities

2,604 3,200

2,372 3,261

2,116 3,266

TOTAL

Including goodwill (see Note 11.1). (1) Peugeot Scooters were sold to the indian group Minhindra Two Wheelers Europe in October 2019. (2)

The share in net assetsof equitymethodinvestmentsbreaksdown into €3,323 million (€3,444 million at 31 December 2018 and €3,472 millionat 31 December2017)for companieswithpositivenet equity,reportedunder“Equitymethodcompanies” less €123 million (€183 millionat 31 Decemberand€206 millionat 31 December2017) for companieswithnegative net equity.

In November 2019, PSA and Chongqing Changan Automobiles signed an agreementwith a chinese companyfor the disposal of shares. The agreementdefines the terms of financingfor the joint venture. In December 2019,all of the Group’s commitments,not conditional on closing, weretakenintoaccount.

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PSA - GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT