PSA - 2019 Universal Registration Document

PEUGEOT S.A. FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 Statutory Auditors’ Report on related party agreements

Re-purchase Agreement The repurchasewould be carried out by acquiring a block of shares off-market(under the existing PSA share repurchaseprogram authorizedby the Company’sAnnualGeneralMeetingof April 25,2019 underthe termsof its fourteenthresolution)at the highestclosing price of the PSA shareon EuronextParis over a periodof five tradingdays chosenby DMHKbeginningbetweenthe date of signatureof the repurchaseagreementand the earliestof the followingtwo dates:(i) 10 tradingdays prior to the completionof the Mergerand (ii) 10 tradingdays prior to December 31,2020.The repurchasepricewouldnot exceedthe maximumpriceof € 30per shareauthorizedas part

of PSA’sexistingsharere-purchase programme. PSAwill cancel the shares purchased fromDMHK. Reasons justifying why theCompanybenefitsfromthe agreement Your Supervisory Board gave the followingreasons

Your counsel’srationalefor this agreementwas as follows:The SupervisoryBoardconsideredthat the letter-agreementswith DongFeng and the repurchaseagreementwith DMHK are justifiedin the light of your Company’scorporateinterest in that they contributeto the completionof the MergerbetweenPSA and FCA, a transactionwhosebenefitsfor Peugeot S.A.were acknowledgedby the Supervisory Board at itsmeeting onOctober 30, 2019 and December 17,2019. AGREEMENTS AND COMMITMENTS PREVIOUSLY APPROVED BY THEANNUALGENERAL MEETING (Codede commerce) , we havebeennotifiedthat the implementation of the following agreements,which were approvedby the Annual General Meeting in prior years, continuedduring the year ended 31 December 2019. 1. With PSA Automobiles S.A.,Opel Automobile GmbH and Banque PSA Finance (entities with a corporate officer ordirectorin common withyour Company) Persons concerned For PSA Automobiles S.A.((formerly PeugeotCitroën Automobiles SA(PCA)): Mr Tavares(Chairmanof the ManagingBoard of your n Companyand Chairmanof the Board of Directorsof PSA Automobiles S.A.)and Mr. Picat(memberof the ManagementBoard and Director ofPSAAutomobiles SA). For Banque PSA Finance (BPF): Mr Tavares(Chairmanof the ManagingBoard of your Companyand Director of BPF), and Olivier n BOURGES (Member of the ManagementBoard andChairman of the Board of Directors of BanquePSAFinance). For Opel Automobile GmbH:Mr Tavares(Chairmanof the ManagingBoardof your Companyand Chairmanof the SupervisoryBoardof n OpelAutomobile GmbH), Mr MichaelLohscheller(Memberof theManagementBoardof yourcompanyas of 1 September 2019 andChief ExecutiveOfficer of Opel Automobile GmbH)et Mr Picat (member of the ManagingBoard of your Company and member of the Supervisory Board of OpelAutomobile GmbH until 1 December 2019). Your Company invoices its principal subsidiaries(PSA Automobiles S.A.,Opel Automobile GmbHand Banque PSA Finance),for their contributionto study, managementand operatingexpenses.The amount of the contributionsto be paid is calculatedon the basis of revenue excluding taxes. The amountreceivedby your companyin respectof the subsidiaries’share of the group’sstudy, managementand operatingexpenses amountedto € 187,074,361for the financialyear 2019,including€ 45,523,086as an adjustmentto the fees owedby its subsidiariesfor the financial year2018. 2. Withthe French State, Etablissements Peugeot Frères (EPF)and FFP andDongFeng Motor Group Ltd (shareholders with more than 10% of the voting ri hts) Corporate officers concernedat the time of approval of the agreement Mrs Marie-HélènePeugeot Roncoroni, permanent representativeof EPF on your Company’s SupervisoryBoard, Mr Thierry Peugeot, Vice-Chairmanand Chief OperatingOfficerof EPF and Chairmanof the SupervisoryBoardof your Company,Mr Jean-PhilippePeugeot, Chief ExecutiveOfficer of EPF, Vice-Chairmanand Directorof FFP and Vice-Chairmanof the SupervisoryBoard of your Company,and Mr Robert Peugeot, permanent representative of FFP on theSupervisory Board of your Company. In accordancewithArticle R. 225-57 of the FrenchCommercialCode The SupervisoryBoard of your Company approved, at its meetings on 18 February 2014(approval relating to the Memorandumof Understanding)and on 18 March 2014(approvalrelatingto the MasterAgreement,as well as to the other agreementsmentionedbelow), the conclusion of the following agreements: a Memorandumof Understanding concludedon 18 February 2014,withDongFengMotorGroupCompany Ltd., theFrenchState,EPFand n FFP, designed,to formalizethe principlesapplicableto the proposedcapitaltransactionswithinthe contextof the acquisitionof equity by DongFengMotorGroupCompany Ltd.and the Frenchstate,as well as to the governancerulesto be set up afterthe performanceof thesecapitaltransactionsand, secondly,to providea frameworkfor the discussionsandworkto be donefor the implementationof the proposed transactions, a Master Agreemententered into on 26 March 2014with DongFengMotor Group Company Ltd.,the French state, EPF and FFP in n accordancewith the Memorandumof Understanding,and designedto substitutethe latter,the purposeof which is to detail the terms andconditionsof the capital transactions and the governance rules applicable upon completion of these transactions. Corporate officers concernedat the date of this report Mrs Marie-HélènePeugeotRoncoroni andMr Robert Peugeot. Acquisitionsof minority interests

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