Plastic Omnium // 2021 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS 2021 Comments on the fiscal year and outlook

5.1.3

OUTLOOK AND EVENTS AFTER

At the same time, working capital requirement amounted to -€498 million at end 2021, compared to -€539 million in 2020. This limited deterioration of €41 million, despite the crisis, is due to: strict control of working capital requirement, including those related to ● operations, which went from €303 million in 2020 to €300 million at the end of the period; sale of receivables amounted to €351 million euros at December 31, ● 2021 compared to €327 million at December 31, 2020, up by €44 million compared to June 30, 2021 (€307 million); the difference between trade payables and trade receivables net of ● sales of receivables amounted to €530 million in 2021 as opposed to €557 million at December 31, 2020. Thanks to these elements and to an operating cash-flow of €616 million (compared to €453 million in 2020), Plastic Omnium generated free cash-flow of €251 million, i.e. 3.5% of consolidated revenue compared to €34 million in 2020 (0.5%). After generating €151 million in free cash flow in the first semester, the Company generated €100 million in free cash flow in the second half of 2021. A ROBUST FINANCIAL STRUCTURE TO SUPPPORT GROWTH As of December 31, 2021, net debt totalled €854 million, close to that of 2020 at €807 and down when excluding investments in EKPO. During the year, Compagnie Plastic Omnium SE paid out dividends of €87 million on its 2020 results (dividend of €0.49 per share, stable compared to that related to the 2019 fiscal year). In 2021, the Group's gearing ratio equates to 41% and net debt/EBITDA to 1.1x leaving Plastic Omnium significant financial leeway to support future growth. As of December 31, 2021, the Group had liquidities of €2.7 billion comprising €0.8 billion in available cash and €1.9 billion in confirmed, undrawn credit lines, with an average maturity of 3.9 years and without any covenants.

THE REPORTING PERIOD

No event likely to have a material influence on the Group's business, financial position, results and assets as of December 31, 2021 has occurred since the closing date. The Russian invasion of Ukraine from February 24, 2022 and the international sanctions imposed on Russia are not expected to have any significant direct impacts on the Group’s activities and assets for the following reasons: Plastic Omnium has no production or customers in Ukraine; ● The activities and assets of its three Russian plants are not significant ● at Group level (revenue < 0.6% of the Group’s economic revenue in 2021). However, Plastic Omnium remains vigilant as to the indirect impacts that this conflict could have, in particular on energy prices and consumer confidence, as well as on supply difficulties for raw materials and components that some of its customers may encounter. OUTLOOK FOR 2022 Plastic Omnium has set its targets for 2022 on the basis of the worldwide automotive production announced by IHS on February 11, 2022 at 81 million vehicles (passenger vehicles < 3.5 T + light commercial vehicles), with a discount of 5% (1) . This prudence is based on the short-term market challenges (reduced visibility, inflation and tension in the labor market) to which the Group intends to respond through its agility. At the same time, in the longer term, the Group aims to play an active role in the transformation of the automotive industry. It will continue its industrial deployment in growth regions and its innovation efforts to maintain its leadership and increase content per vehicle. For 2022, Plastic Omnium expects: an economic revenue that outperforms growth in worldwide automotive ● production;

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5.1.2

INVESTMENTS

an operating margin between 5% and 6% of revenue; ● generation of free cash-flow of more than €260 million. ●

After an extensive capital expenditure program in recent years, the Group’s current installed capacity is sufficient to support its future growth. As a result, investments will equal less than 6% of revenue in the coming years, even as the Group pursues its large-scale innovation program.

Data on the impact of the semiconductor shortage on production and on the distribution of sales by powertrain are taken from the IHS Markit forecasts for January 2022. (1)

Supply disruptions - particularly of semiconductor components - are continuing to lead to production cuts at several car manufacturers and suppliers. Plastic Omnium, which is indirectly affected, is managing this situation as closely as possible. Any significant change affecting these forecasts will be reported.

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PLASTIC OMNIUM UNIVERSAL REGISTRATION DOCUMENT 2021