PSA_GROUP_REGISTRATION_DOCUMENT_2017

ANALYSIS OF THE BUSINESS AND GROUP OPERATING RESULTS IN 2017 AND OUTLOOK Parent-company Results

After deducting provisions, the net value of equity investments was €18,311 million at 31 December 2017, compared with €15,939 million in 2016. In 2017, the loans to GIE PSA Trésorerie were repaid in the amount of €1,361 million. Current assets primarily correspond to (i) liquidity deposits of €3,599 million at 31 December 2017 as against €3,271 million in 2016 (see Note 11) and marketable securities which totalled €217 million net of provisions at 31 December 2017, versus €178 million at 31 December 2016 (see Note 10). The 11,315,735 treasury shares held at 31 December 2017 are categorised as marketable securities, including 5,282,000 shares appropriated for free share plans, and 6,033,735 for future LTI plans. (see Note 10.A). LIABILITIES & EQUITY Shareholders’ equity at 31 December 2017 was €19,759 million, versus €18,831 million at 31 December 2016. On 17 May 2017, Peugeot S.A. paid dividends of €431 million. Given the results achieved by Groupe PSA, the Supervisory Board approved the Managing Board’s proposal to pay dividends for financial year 2017.€. During financial year 2017, Peugeot S.A. bought back treasury shares to cover the employee shareholding programme and future LTI plans. A free share plan was established during 2017 (see Note 11.A).

Provisions for contingencies and charges totalled €145 million at 31 December 2017 versus €167 million in 2016. More detailed information can be found in Note 12 to the Financial Statements. Interest and similar expenses came to €2,270 million, compared with €1,870 million in 2016. In 2017, Peugeot S.A. redeemed maturing bonds for a total amount of €304 million (see Note 15). On 23 March 2017, Peugeot S.A. issued €700 million in fixed-rate 2% bonds maturing in April 2024. Of the €62 million due to suppliers of fixed assets, €57 million corresponds to the uncalled portion of the commitment to the FAA fund set up to support automotive equipment suppliers (see Note 16). In as much as Peugeot S.A. is a holding company, the trade payables are not significant. Trade payables amounted to €17 million. Peugeot S.A. settles payments to suppliers 30 days end of month from invoice date, in compliance with the provisions of France’s LME Act. INVOICES RECEIVED AND DUE BUT NOT YET PAID AT THE CLOSE OF THE PERIOD At 31 December 2017, payments due to suppliers amounted to €17.0 million and broke down as follows in the financial statements: trade payables amounted to €17.0 million; „ less: deferred expenses for this item: €16.7 million. „ Or, €0.3 million.

This amount of late payments breaks down as follows:

Article D. 441 I. 1.: Invoices received and due but not yet paid at the close of the period

More than 91 days

Total (1 day and more)

0 day 1 to 30 days 31 to 60 days

(In thousands of euros)

(A) Late payment tranches Number of invoices involved

1

5

2

7

TOTAL VALUE OF INVOICES INVOLVED (INCL. TAX) Percentage of the total value of purchases in the period (incl. tax) (B) Invoices excluded from (A) in connection with contested trade payables Number of excluded invoices TOTAL VALUE OF EXCLUDED INVOICES (INCL. TAX) (C) Reference payment terms: Article L. 441-6 Payment terms used for calculating late payments

9

103

206

309

0.41%

0.61%

0.02% 0.20%

Legal term: 30 days

INVOICES RECEIVED AND DUE BUT NOT YET PAID AT THE CLOSE OF THE PERIOD

At 31 December 2017, trade receivables amounted to €57.0 million and broke down as follows in the financial statements: trade receivables: €57.0 million; „ less: invoices to be issued for this item: €54.3 million. „ Or, €2.7 million.

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GROUPE PSA - 2017 REGISTRATION DOCUMENT