PSA - 2019 Universal Registration Document

PEUGEOT S.A. FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 Statutory Audit Report on the financial statements

STATUTORY AUDIT REPORT 6.6. ON THE FINANCIAL STATEMENTS

Year endedDecember 31,2019 This is a translationinto English of the statutoryauditors’report on the financialstatementsof the Companyissued in French and it is provided solely for theconvenience of English-speaking users. This statutory auditors’ report includes informationrequired by European regulationsand French law, such as informationabout the appointment of the statutoryauditorsor verificationof themanagement reportandother documents providedto the shareholders. This reportshouldbe readin conjunctionwith,andconstruedin accordancewith,Frenchlawandprofessionalauditingstandardsapplicable in France.

To the Annual General Meeting ofPeugeot S.A.,

Opinion

In compliancewith the engagemententrusted to us by your Annual General Meeting, we have audited the accompanyingfinancial statements of Peugeot S.A. for the year ended December 31, 2019. In our opinion,the financialstatementsgive a true and fair viewof the assetsand liabilitiesand of the financialpositionof the Companyas at 31 December 2019 and of theresults of itsoperationsfor the yearthenended inaccordance with Frenchaccountingprinciples. The auditopinion expressed above is consistent with our reportto the Finance andAuditCommittee.

Basis for Opinion

AUDIT FRAMEWORK

We conductedour audit in accordancewith professionalstandardsapplicablein France. We believe that the audit evidencewe have obtained issufficient andappropriate toprovide a basis for ouropinion. Our responsibilitiesunder those standardsare further describedin the StatutoryAuditors’Responsibilitiesfor the Audit of the Financial Statements sectionof ourreport. INDEPENDENCE We conductedour auditengagement in compliancewiththe independence rulesapplicableto us, for the periodfromJanuary 1, 2019 to the date of our report, and specificallywe did not provide any prohibitednon-auditservices referred to in Article 5(1)of Regulation(EU) No. 537/2014 or in the FrenchCodeof Ethics ( Codede déontologie) for StatutoryAuditors.

JUSTIFICATION OF ASSESSMENTS – KEY AUDIT MATTER

In accordancewith the requirementsof Articles L.823-9and R.823-7of the FrenchCommercialCode (Codede commerce) relatingto the justificationof our assessments,we informyou of the key audit matterrelatingto risks of materialmisstatementthat, in our professional judgment,were of mostsignificance in our audit ofthe financial statements of the current period, as wellas how we addressed those risks. Thesematterswereaddressed in the contextof our auditof the financialstatementsas a whole,and in formingour opinionthereon,andwe do notprovide a separate opinion onspecific items of the financial statements.

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GROUPE PSA - 2019 UNIVERSAL REGISTRATION DOCUMENT