PSA_GROUP_REGISTRATION_DOCUMENT_2017

ANALYSIS OF THE BUSINESS AND GROUP OPERATING RESULTS IN 2017 AND OUTLOOK Major Contracts

This amount of late payments breaks down as follows:

Article D. 441 I. 1.: Invoices issued 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

42

4

4

TOTAL VALUE OF INVOICES INVOLVED (INCL. TAX) Percentage of revenue for the period (incl. tax) (B) Invoices excluded from (A) in connection with contested trade receivables Number of excluded invoices

730

13

13

0.49%

0.01%

0.01%

18

18

TOTAL VALUE OF EXCLUDED INVOICES (INCL. TAX)

1,914

1,914

(C) Reference payment terms: Article L. 441-6 Payment terms used for calculating late payments

Legal term: 30 days

MAJOR CONTRACTS 4.4.

Acquisition of Opel Vauxhall and GM Financial’s 4.4.1. european business

On 6 March 2017, Groupe PSA announced the proposed acquisition of General Motors’ Opel Vauxhall subsidiary and the creation of a car finance joint venture with BNP Paribas, to support the development of the Opel and Vauxhall brands (the “ Transaction ”) as they are described in Section 4.4, “Major contracts” of the 2016 Registration Document, together with the contractual terms of the Transaction. The Transaction includes all the car manufacturing activities of Opel Vauxhall, which comprise the Opel and Vauxhall brands, six assembly plants and five part production plants, an engineering centre (Rüsselsheim, Germany) and about 35,000 employees. On 1 August 2017, Groupe PSA announced the closing of the acquisition of the Opel and Vauxhall subsidiaries of General Motors, for which the agreement had been signed on 6 March 2017, followed on 1 November 2017 by the closing of the joint acquisition of the Opel Vauxhall captive finance companies, also announced on 6 March 2017. With Opel and Vauxhall, Groupe PSA becomes the second largest European car manufacturer. Building on this transaction and now with five complementary, well-positioned car brands, Groupe PSA will strengthen its presence in the major European markets and this will serve as a foundation for profitable growth worldwide.

The following are Groupe PSA’s aims in acquiring Opel Vauxhall: strengthening the Group’s position on certain European markets „ where its presence was historically weaker, such as Germany and the United Kingdom, thanks to the complementary geographical coverage of Groupe PSA and Opel Vauxhall; raising the Company to the rank of Europe’s second largest car „ manufacturer, with more than 4 million vehicles per year and a market share in Europe of 17% (1) ; to achieve substantial economies of scale and synergies in the „ area of purchasing, production and R&D; thus, synergies of €1.7 billion per year are expected between now and 2026, a significant proportion of which should materialise between now and 2020; the achievement by Opel Vauxhall of a recurring operating „ margin (2) of 2% between now and 2020 and of 6% by 2026, and the generation of positive operational free cash flow (3) by 2020. The key objectives of the strategic partnership with BNP Paribas are, mainly: to support sales of Opel Vauxhall vehicles and to develop the „ network of concessionaires; to develop Opel Vauxhall’s financing business using the combined „ expertise of BNP Paribas Personal Finance and Banque PSA Finance.

European market share excluding Russia and Turkey, calculated on the basis of Opel Vauxhall’s revenue in 2016 (€17.7 billion) (data (1) corresponding to the transferred scope) (source: IHS Automotive). IFRS. Subject to full review of US GAAP – IFRS differences. (2) Defined as recurring operating income + D&A - restructuring costs - capex - capitalised R&D - change in working capital. (3)

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GROUPE PSA - 2017 REGISTRATION DOCUMENT