PSA_GROUP_REGISTRATION_DOCUMENT_2017

PEUGEOT S.A. FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017 Notes to Peugeot S.A. financial Statements

PENSION OBLIGATIONS NOTE 23

At 31 December 2017, the projected benefit obligation amounted to €50.1 million. Benefit compensation for services rendered is funded in the amount of €28.4 million paid into external funds.

UNRECOGNISED DEFERRED TAXES NOTE 24

Deferred taxes arising from differences between the recognition of income and expenses for financial reporting and tax purposes represented a net deferred tax asset of €272.5 million at 31 December 2017, comprising €144.7 million for losses carried forward and €127.8 million as a temporary difference. There are no deferred tax liabilities.

MANAGEMENT COMPENSATION NOTE 25

The Group is managed by the Managing Board. The members of the Managing Board, together with the other members of the Management Committee, constitute the Executive Committee. The members of that Committee constitute the Group’s managing bodies. The compensation details provided in the table above do not include social security contributions. The amount of compensation paid to members of management bodies, including accrued variable compensation, is provisional. The fixed compensation of the Managing Board members was constant in 2017.

31/12/2017

31/12/2016

(in million euros)

Number of Executive Committee members at 31 December Fixed & variable compensation and other short-term benefits (excluding pensions)

18

18

22.2 17.2 Furthermore, the charge recorded in 2017 in relation to the employer’s contribution to the new defined-contribution pension plan for members of the Managing Board and the other Executive Committee members amounted to €4.8 million, comprised of €2.4 million paid to a pension fund and €2.4 million paid in cash to grantees (taking into account a scheme based on taxation upon first deposit). The performance shares allocated in 2016 and 2017 to the members of the Managing Bodies are detailed in the table below:

31/12/2017

31/12/2016

(number of options)

Performance shares held at 31 December 1,585,000 Members of the Group’s management bodies are not entitled to any long-term benefits apart from pension benefits and the performance shares under the plans referred to above, or any other forms of share-based payments or any compensation for loss of office. 1,670,000

AVERAGE WORKFORCE NOTE 26

31/12/2017

31/12/2016

(number of employees)

Managers

327

246

Other

69

59

TOTAL

396

305

This change in workforce numbers is due to the new establishment of staff at Rueil.

SUBSEQUENT EVENTS NOTE 27

Between 31 December 2017 and 28 February 2018, the date on which the financial statements were approved by the Supervisory Board, no event likely to significantly impact the economic decisions made on the basis of these financial statements occurred.

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GROUPE PSA - 2017 REGISTRATION DOCUMENT