PSA_GROUP_REGISTRATION_DOCUMENT_2017

ANALYSIS OF THE BUSINESS AND GROUP OPERATING RESULTS IN 2017 AND OUTLOOK Financial position and cash

Banque PSA Finance 4.1.5.

The results (at 100%) of finance companies are presented below (1) .

31 December 2016

31 December 2017

Change

(in million euros)

Revenue

1,405 1,026 0.24%

1,476 1,145 0.27%

71

Net banking revenue

119

Cost of risk (2)

+0.03 pt

Recurring operating income

571

632

61

Penetration rate

30.8%

30.0%

(0.8) pt 77,907

Number of new contracts (leasing and financing)

767,848

845,755

These results of BPF for 2017 include the result of 2 months of Opel Vauxhall Finance activities since November, 1st 2017. (1) As a percentage of average net loans and receivables (2)

Faurecia 4.1.6.

31 December 2016

31 December 2017

Change

(in million euros)

Revenue

18,710 970 5.2% 864 (163)

20,182 1,170 5.8% 1,075 (133)

1,472 200

Recurring operating income

As a % of revenue Operating income

211 30

Net financial income (expense)

Consolidated profit (loss) for the period

706 1,011

708

2

Free cash flow

129

(882)

Net financial position

(475)

(646)

(171)

More detailed information about Faurecia is provided in its annual report which can be downloaded from www.Faurecia.com.

FINANCIAL POSITION AND CASH 4.2.

Net financial position and financial security of manufacturing 4.2.1. and sales companies

The net financial position of manufacturing and sales companies are set out and described in Note 12 to the Group's consolidated financial statements at 31 December 2017. The net financial position of manufacturing and sales companies at 31 December 2017 was a net cash position of €6,194 million, down €619 million compared with 31 December 2016. Within this positive net financial position, Faurecia had €646 million in net debt at 31 December 2017, compared to €475 million in net debt at end-December 2016.

The Group continued to actively manage its debt in 2017. In order to extend the average maturity of its debt, Peugeot S.A. issued a bond of 600 M€ bond maturing in March 2024 and, in May, a tap bond of 100 M€ with the same maturity. In addition, the European International Bank (EIB) granted a seven-year loan of 250 M€ to PSA Automobiles SA for the financing research and development investments on future emission requirements. Liquidity reserves for the manufacturing and sales companies amounted to €17,522 million at 31 December 2017, versus €16,974 million at 31 December 2016, with €13,322 million in cash and cash equivalents, financial investments and current & non-current financial assets, and €4,200 million in undrawn lines of credit (see Note 12.4 to the consolidated financial statements at 31 December 2017).

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GROUPE PSA - 2017 REGISTRATION DOCUMENT