PSA - 2019 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS AT 31 DECEMBER 2019 Statutory auditors’ report on the consolidated financial statements

Report on Other Legal and Regulatory Requirements

APPOINTMENT OF THE STATUTORY AUDITORS

We were appointedas statutoryauditors of Peugeot S.A.by your annual general meetingheld on May 25, 2005 for MAZARSand on May 31, 2011 forERNST &YOUNGet Autres. As at December 31,2019, MAZARSand ERNST& YOUNGet Autreswere in the fifteenthyear and in the ninth year of total uninterrupted engagement, respectively.

Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements

Management is responsible for the preparation and fair presentationof the consolidatedfinancial statements in accordance with InternationalFinancialReportingStandardsas adoptedby the EuropeanUnionand for such internalcontrolas managementdeterminesis necessaryto enablethe preparationof consolidated financialstatementsthat are free frommaterialmisstatement,whetherdue to fraudor error. In preparingthe consolidatedfinancialstatements,management is responsiblefor assessingthe Company’sabilityto continueas a going concern,disclosing,as applicable,mattersrelatedto goingconcernandusingthegoingconcernbasisof accountingunlessit is expectedto liquidate theCompanyor toceaseoperations. TheFinanceandAuditCommittee is responsiblefor monitoringthe financialreportingprocessand the effectivenessof internalcontroland risks management systemsandwhere applicable, its internal audit, regardingthe accounting and financialreporting procedures. The consolidated financial statements were approved by the ManagingBoard.

Statutory Auditors’ Responsibilities for the Audit of the Consolidated Financial Statements

OBJECTIVES AND AUDIT APPROACH Our role is to issue a reporton the consolidatedfinancialstatements.Our objectiveis to obtainreasonableassuranceaboutwhetherthe consolidated financialstatementsas a wholeare free frommaterialmisstatement.Reasonableassuranceis a high level of assurance,but is not a guaranteethat an audit conductedin accordancewith professionalstandardswill always detect a materialmisstatementwhen it exists.Misstatementscan arisefromfraudor errorand are consideredmaterialif, individuallyor in the aggregate,theycouldreasonablybe expectedto influence the economic decisions ofusers taken on the basisof these consolidated financial statements. As specifiedin Article L.823-10-1 of the FrenchCommercialCode( Codede commerce ), our statutoryaudit does not includeassuranceon the viability of the Company or the quality of management of the affairs of the Company. As part of an audit conductedin accordancewith professionalstandardsapplicablein France,the statutoryauditorexercisesprofessional judgmentthroughoutthe audit and furthermore: Identifiesandassessesthe risksof materialmisstatementof the consolidated financialstatements,whetherdue to fraudor error,designs n and performsaudit proceduresresponsiveto those risks, and obtains audit evidenceconsideredto be sufficientand appropriateto providea basisfor his opinion.Theriskof not detectinga materialmisstatement resultingfromfraudis higherthanfor oneresultingfrom error,as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the overrideof internal control. Obtains an understandingof internal control relevant to the audit in order to design audit proceduresthat are appropriatein the n circumstances,butnot for thepurpose ofexpressing an opinion on the effectiveness of theinternal control. Evaluatesthe appropriateness of accountingpoliciesusedand the reasonablenessof accountingestimatesand relateddisclosuresmade n by management in theconsolidated financialstatements. Assessesthe appropriateness of management’suse of the goingconcernbasisof accountingand,basedon the auditevidenceobtained, n whethera materialuncertaintyexistsrelatedto eventsor conditionsthatmaycastsignificantdoubton theCompany’sabilityto continue as a goingconcern.Thisassessment is basedon the auditevidenceobtainedup to the dateof his auditreport.However,futureeventsor conditionsmay cause the Company to cease to continue as a going concern. If the statutory auditor concludes that a material uncertaintyexists, there is a requirementto draw attentionin the audit report to the relateddisclosuresin the consolidatedfinancial statements or, if suchdisclosures are not providedor inadequate, tomodify the opinion expressed therein. Evaluates the overall presentationof the consolidatedfinancial statementsand assesses whether these statementsrepresent the n underlyingtransactionsandeventsin a manner thatachievesfair presentation. Obtainssufficientappropriateauditevidenceregardingthe financialinformationof the entitiesor businessactivitieswithinthe Groupto n express an opinion on the consolidatedfinancial statements.The statutoryauditor is responsiblefor the direction,supervisionand performanceof the audit of the consolidatedfinancial statementsand for the opinion expressed on these consolidatedfinancial statements.

263

PSA - GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT