INVESTOR MEETING November, 2010

VP Investor Relations James Palmer + 33 1 40 66 54 59 [email protected]

Head of Financing & Treasury Olivier Casanova + 33 1 40 66 36 08 [email protected] By attending the meeting where this presentation is made, or by reading this presentation slides, you agree to be bound by the following limitations and qualifications. • The contents of this presentation are to be kept confidential and may not be reproduced, redistributed or passed on, directly or indirectly, in any form, to any other person or published, in whole or in part, for any purpose. Non-compliance with these restrictions may result in the violation of regulations of the European Union, the United States of America or of other jurisdictions. • No representation or warranty, express or implied is given by or on behalf of SA or any of its directors, officers or employees or any other person as to the accuracy or completeness of the information or the opinions contained in this document and no liability is accepted for any such information or opinions. • The information and opinions contained in this presentation are provided as at the date of this document and are subject to change without notice. PEUGEOT SA does not assume any responsibility or obligation to update or revise any such statements, regardless of whether those statements are affected by the results of new information, future events or otherwise. • The information communicated in this document contains certain statements that are or may be forward looking. By their nature, forward looking statements involve risk and uncertainty because they relate to events and depend on circumstances that may or may not occur in the future. Although PEUGEOT SA believes its expectations are based on reasonable assumptions, these forward looking statements are subject to numerous risks and uncertainties and are not guarantees of future performance, which could cause PEUGEOT SA’s actual results and the development of the industry in which it operates to differ materially from those anticipated in the forward looking statements. • The distribution of this presentation may be restricted in certain countries by applicable laws and regulations. Persons who are physically located in those jurisdictions and in which this presentation is circulated, published or distributed must inform themselves about and observe such restrictions. • This document is not a prospectus and the information it contains does not constitute or form part of, and should not be construed as, an offer, invitation or solicitation to purchase or subscribe for, any securities (including bonds) of PEUGEOT SA, nor shall it or any part of it form the basis of or be relied on in connection with any contract or investment decision whatsoever. • This document is being distributed to and is directed only at persons in member states of the European Economic Area (“EEA”) who are “qualified investors” within the meaning of article 2(1)(e) of the Prospectus Directive (directive 2003/71/EC) (“Qualified Investors”). Any person in the EEA who receives this document will be deemed to have represented and agreed that it is a Qualified Investor. Any such recipient will also be deemed to have represented and agreed that it has not received this document on behalf of persons in the EEA other than Qualified Investors. PEUGEOT SA will rely upon the truth and accuracy of the foregoing representations and agreements. • Any securities mentioned in this presentation have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) and may not be offered or sold in the United States absent such registration or an applicable exemption from the registration requirements of the Securities Act.

Investor Meeting – November, 2010 2 GROUP OVERVIEW

3 PSA Peugeot Citroën key facts

> Two powerful, distinct and complementary brands

• The company is listed on the Paris NYSE Euronext and employs 196 000 employees worldwide. Market cap. approximately of $10 bn • FY 2009 turnover of €48.4 bn (9M 2010: €41.4 bn , change 10/09: +17.3% ) • 3 188 000 vehicles sold worldwide in 2009 (2 664 000 vehicles in 9M 2010, change 10/09: +12.2% ) • Europe’s No. 2 vehicle manufacturer with market share of 13.8% in 2009 (14,3% in 9M 2010) and a worldwide market share of 5.1% • The company is an active bond issuer via two entities ► PSA rated Baa3 by Moody’s / BB+ by S&P ► Banque PSA Finance its financing arms rated Baa1 by Moody’s / BBB by S&P

Investor Meeting – November, 2010 4 PSA Peugeot Citroën milestones

DCAC joint venture set up Joint venture DPCA created with Dongfeng Motors to with Dongfeng Motors to expand assemble Citroën ZX cooperative production of Peugeot models in China. and Citroën models in China Creation of “Peugeot-Frères”. The Peugeot Citroën group The Peugeot is created by the merger of Creation of Joint PSA Peugeot Citroën- Appointment of brothers convert Citroën SA and Peugeot SA, CREDIPAR; French Toyota production plant Philippe Varin as a grain mill into in which Peugeot takes over finance subsidiary of Porto Real production inaugurated in Kolin, Czech Chairman of the a steel foundry Citroën PSA plant inaugurated in Brazil Republic Managing Board

New Production plant inaugurated in Trnava, Slovakia

1810 1896 1976 1978 1979 1992 1998 2001 2002 2005 2006 2008 2009

Armand Peugeot PSA Peugeot ECIA completes a friendly The cornerstone is founds the company Citroën acquires acquisition of equipment laid for the Kaluga "Automobiles Peugeot" Chrysler Europe manufacturer Bertrand Faure. plant in Russia and an to continue to produce The new company, named agreement is signed cars and trucks Faurecia, is more than 50% with Mitsubishi Motors owned by PSA Peugeot Citroën. Corporation

Investor Meeting – November, 2010 5 Group worldwide sales

WESTERN RUSSIA EUROPE WORLDWIDE +18.6% SALES 2 159 000 +5.4% 41 000 3 188 000 +12.2% 39 000 9M = 1 583 000 1 668 000 9M = 33 000 9M = 2 375 000 2 664 000 2009 9M 2010 2009 9M 2010 2009 9M 2010

CHINA

272 000 +39.9% LATIN AMERICA 232 000 263 000 +17.7% 9M = 188 000

205 000 9M = 174 000 2009 9M 2010

2009 9M 2010

Investor Meeting – November, 2010 6 Market share growth in Europe

14.3% Market share

13.8% > Market share gains Market share 13.5% > Increased market coverage momentum > Success of new models in Europe 30

2008 2009 9M 2010

Peers comparison > Europe’s No. 2 vehicle manufacturer on 9M 2010 20.3%

14.3% 10.8% 8.6% 8.5% 8.2% 5.1% 4.7% 4.4% 4.1% 2.9%

VAG PSA RENAULT FORD FIAT GM DAIMLER BMW TOYOTA HYUNDAI NISSAN

Investor Meeting – November, 2010 7 The company has focused on cooperative ventures

DIESEL ENGINES 16.5 million diesel engines produced since 1998

PETROL ENGINES More than 1.5 million units since 2006

SUVs AND SUVs since 2005 and now electric vehicles ELECTRIC VEHICLES 75 000 Peugeot and Citroën SUVs produced

PETROL ENGINES Engines and mechanical sub-assemblies since 1966

COMPACT CITY CARS 1.5 million compact city cars produced since 2005

LIGHT COMMERCIAL Light commercial vehicles and MPVs VEHICLES AND MPVs 6.3 million vehicles produced since 1978

Investor Meeting – November, 2010 8 Non-automotive activities

FINANCING & SERVICES TRANSPORT AND LOGISTICS

23.7% of H1 2010 Group’s recurring operating income 10.7% of H1 2010 Group’s recurring operating income

AUTOMOTIVE EQUIPMENT

Listed at Paris in the NYSE Euronext stock exchange

19% of H1 2010 Group’s recurring operating income

Investor Meeting – November, 2010 9 KEY FINANCIAL HIGHLIGHTS

10 Highlights of the 2010 first half results

• Revenues up 20.8% to €28.4bn • Strong recovery in Group recurring operating income: €1 137m (margin of 4%) versus loss of €826m in H1 2009 • Significant turnaround in automotive profitability: recurring operating income of €525m (margin of 2.5%) , versus loss of €904m in H1 2009, on the back of market share gains and the Performance Plan • Net Income, Group share of €680m , versus loss of €962m in H1 2009 • Free Cash Flow of €341m , net debt of €1 732m versus €1 993m at the end of 2009

Investor Meeting – November, 2010 11 Group results > Strong recovery in recurring operating income > Recurring operating margin of 4%

In million euros H1 2009 H1 2010 Variation Revenues 23 497 28 394 +20.8% Recurring operating income/(loss) (826) 1 137 % of revenues -3.5% 4.0% Non–recurring operating income (506) (69) and (expenses) Operating income/(loss) (1 332) 1 068 Net financial income (expenses) (226) (241) Income taxes 470 (227) Share in net earnings 24 of equity affiliates 137 Consolidated net income/(loss) (1 064) 737 Net income/(loss), Group share (962) 680 Earning per share (in euros) (4.24) 3.00

Investor Meeting – November, 2010 12 Group margin performance

> Group: Strong recovery > Automotive: Return to positive margin

Group and Automotive recurring operating margin %

4.4% Group 3.4% 4.0% 2.0% 3.0% 2.5% 3.3% 1.0% 0.5% 2.0% 1.9% Automotive 0.6% -3.5% -0.5% -1.8% -4.8%

2004 2005 2006 2007 2008 H1 2009 H2 2009 H1 2010

Investor Meeting – November, 2010 13 New car revenue analysis

Volumes Price Product Country FX Others mix mix + 2.7% - 4.7% + 5.1% 0.0% In million euros 22 718 + 8.6% - 1.8%

20 678

+ 9.9%

New car New car revenues revenues

9M-09 9M-10

Investor Meeting – November, 2010 14 Shareholder’s Equity & Gearing

> Increased shareholder’s equity of €1.4bn > Low gearing of 12.5%

In million euros 31.12.09 30.06.10

Net debt position 1 993 1 732

Total shareholder’s equity 12 447 13 845

Gearing ratio 16.0% 12.5%

Investor Meeting – November, 2010 15 Strong Liquidity Position

> Significant liquidity headroom in Manufacturing and Sales Companies

In million euros End 2009 End H1 2010 Cash and cash equivalents 7 843 9 084 Current & non current financial assets 1 185 1 271 Total 9 028 10 355

Back-up facility (undrawn) 2 400 2 400

Total liquidity available 11 428 12 755

Investor Meeting – November, 2010 16 Solid financial structure

> Weighted average remaining maturity: 5.3 years

Gross debt pro forma at 25.10.10 excluding BPF, undrawn credit-line, short term liabilities & other adjustments In million euros Renewed €2.4bn undrawn credit line maturing July 2013

3 066

1 735 1 551 1 075 777 600 435

2011 2012 2013 2014 2015 2016 2033

Investor Meeting – November, 2010 17 Rating agencies

Current ratings • Moody’s: Baa3/Negative/P3 • Standard and Poor’s: BB+/Stable/B

Latest changes • September 2010: Standard and Poor’s revised the outlook to Stable • July 2010: Fitch modified the outlook on PSA from Negative to Stable • May 2010: Moody’s changed the outlook of the Automotive industry from Stable to Positive

Investor Meeting – November, 2010 18 GROUP STRATEGY

19 Progress on our ambitions

50% of vehicle sales in high growth A global player markets by 2015

A step ahead Design, emissions

Operational excellence €3.3bn Performance Plan

Investor Meeting – November, 2010 20 China

> Strengthening of Dongfeng Peugeot Citroën Automobile

> Second JV with Chang’an to expand Chinese footprint

> Develop China Tech Center in Shanghai

> Managing Board member based in Shanghai

Investor Meeting – November, 2010 21 China

> Record performance in H1 2010 at DPCA

> 5% market share in 2015

• Vehicle sales up 50% to 176 000 in H1 2010 • Net income, Group share of €97m* vs €9m H1 09 • One new vehicle launch per year, per brand

• STT Hybrid vehicles from 2011 • Capacity increased to 450 000 units with opening of Wuhan 2 in November 2009

• Third plant to come on stream in 2013 CITROËN C5

* PSA 50% share of net profit consolidated as equity affiliate

Investor Meeting – November, 2010 22 China

> Second JV with Chang’an to expand Chinese footprint

• Citroën DS line with first vehicle launched in 2012 • Development of LCVs • Production capacity of 200k p.a. at Shenzhen

> Develop China Tech Center in Shanghai

• New product growth momentum • Develop environmental leadership

> Managing Board member based in Shanghai

Investor Meeting – November, 2010 23 A global player: Latin America and Russia

> Latin American development • New model momentum:

Peugeot Hoggar, Citroën Aircross PEUGEOT Hoggar • 3yr investment programme for product development and plant capacity: ► Brazil: €530m ► Argentina: €170m CITROËN Aircross

> Russian production underway • Assembly started at Kaluga plant with the , Citroën C4

• Production of SUV in September 2010 PEUGEOT 308

Investor Meeting – November, 2010 24 A global player: Core range models for high growth markets

Vehicles: Production: • Peugeot 408 Wuhan, China Palomar, Argentina

• Mid-size sedan Vigo, Spain PEUGEOT 408 China & Latin America to follow

• “Global small” vehicle Under consideration

Investor Meeting – November, 2010 25 Progress on our ambitions

50% of vehicle sales in high growth A global player markets by 2015

A step ahead Design, emissions

Operational excellence €3.3bn Performance Plan

Investor Meeting – November, 2010 26 Design

PEUGEOT RCZ CITROËN DS3

PEUGEOT 508 CITROËN DS4

Investor Meeting – November, 2010 27 Emissions

> 1 million vehicles ≤120g CO 2/km by 2012 vs 750 000 in 2009

Diesel Stop & Start Gasoline 207, C3 & up to 1l. 3 cyl DS3 -15% ≤99g ≈ 85%

99g CO 2/km CO 2/km CO 2/km Gasoline and diesel

Full hybrid Hybrid Electric diesel Plug-in vehicle «HYbrid4 < 50g ≈ 15% diesel» CO 2/km 2009 Electric and hybrid

2010 2011 2012 2020

Investor Meeting – November, 2010 28 Electric cars, scooters & Hybrid technologies

ELECTRIC CARS, SCOOTERS HYBRID TECHNOLOGIES

PEUGEOT 3008 Hy4 PEUGEOT iOn CITROËN C-Zero

PEUGEOT 508

PEUGEOT E-vivacity Scooter CITROËN Berlingo Electric CITROËN DS5 Hy4

Investor Meeting – November, 2010 29 Progress on our ambitions

50% of vehicle sales in high growth A global player markets by 2015

A step ahead Design, emissions

Operational excellence €3.3bn Performance Plan

Investor Meeting – November, 2010 30 €3.3bn Performance Plan 2010-2012

Our ambitions

• A step ahead in pioneering 30% Sales & Marketing vehicles & services

• A global player 15% High growth markets

• An industry benchmark Production, for operational efficiency 55% Development & SG&A

Investor Meeting – November, 2010 31 Performance Plan delivery

> €3.3bn Performance Plan 2010-2012

€1.1bn 30% Sales & Marketing €854m at 30.06.10

15% High growth markets

Production, 55% Development & SG&A 2010 2011 2012

Investor Meeting – November, 2010 32 Performance Plan delivery

> Sales & marketing (30%)

FY 2012 H1 2009 H1 2010 Target

Market share in Europe 13.7% 14.5% -

B2B Market share in Europe 14.4% 15.1% 18%

≤ CO 2/km: vehicles 120g/km 379 000 435 000 1 000 000

Service contracts (N °) 157 000 225 000 500 000

Mu by Peugeot (N ° of outlets) 4 pilots 20 250

Investor Meeting – November, 2010 33 Performance Plan delivery

> High growth markets (15%)

FY 2012 H1 2009 H1 2010 Target

China market coverage 33% 34% 40%

Latin America market coverage 41% 47% 57%

Russia market coverage 44% 51% 77%

Investor Meeting – November, 2010 34 Performance Plan delivery

> Production, development & SG&A (55%)

FY 2012 H1 2009 H1 2010 Target Capacity utilisation in Europe 66% 89% 105%

Hours per vehicle (2009 base 100) - -4% -20%

Development productivity (2009 base 100) - -10% -20% Repeat components 30% 39% 50%

Procurement by key suppliers 25% 35% 50%

Investor Meeting – November, 2010 35 To sum up

Building blocks in place in high growth markets > to reach 50% sales by 2015

> Products to support market share and pricing power

> Pioneering technologies to reduce CO 2 emissions

> Underpinned by operational excellence

Investor Meeting – November, 2010 36 BANQUE PSA FINANCE Introduction

• Wholly-owned subsidiary of PSA Peugeot Citroën, established in 1982; building on a long experience of car financing since 1919 • Banking status in France since 1995 • Specialist auto finance company, offering coherent range of financial services (loans and ancillary services) to Peugeot and Citroën dealers and clients • Strong track record on loan book growth: loan book of € 23.4bn as of June 2010 • Consistently high profitability thanks to robust business model and strong risk control: recurring operating income of € 498m in 2009 and a benchmark cost of risk of 0.47% • High quality balance sheet with Basel II ratio of 13.8% as of December 2009 • Rated Baa1/BBB (negative/stable) or two notches above Peugeot S.A. • Highly successful track record in the Eurobond market

Investor Meeting – November, 2010 38 BUSINESS MODEL The dedicated banking partner to Peugeot and Citroën (1/3)

• Close and exclusive partnership with Peugeot and Citroën brands

► Broad range of financing products for both brands' commercial network

► Comprehensive, structured and differentiated offer to final customers: • Marketed in collaboration with both brands • Valued support for brands as financing increases loyalty and speeds up renewal • Car dealers customer relationships structured by combined marketing approach (“EFFICAR” method)

► Highly efficient Point of Sale IT systems, allowing dealers to quote global offers (Vehicle/Finance/Services) at high speed and with high level of automation: • IT infrastructure consolidated with the brands’ dealer network: a key efficiency and cost reduction driver

► Continuous geographic expansion to support the Group’s international growth

Investor Meeting – November, 2010 40 The dedicated financial services partner to Peugeot and Citroën (2/3)

• Fully independent operational management

► Asset quality management: • Wholesale credit management, retail acceptance policy, recovery methods • Own credit scoring with different, internally-developed score cards for new and used cars, consumer and commercial customers, credit loans and leasing

► Price setting

► Marketing strategy (market studies, product plan conception)

► Incentivization of dealers’ network

Investor Meeting – November, 2010 41 The dedicated banking partner to Peugeot and Citroën (3/3)

Steady penetration Increasing penetration in new markets rate growth in retail financing of Central and Eastern Europe and Latin America

Worldwide penetration rates Penetration rates by market

In % In %

27.1 27.3 27.5 29.3 29.4 27.7 27.6 27.7 28.7 28.2 26.4 25.2 26.3 26.1 26.1 24.9 25.6 21.7 21.6 25.3 25.1 24.7 16.6 24.1

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 H1 2008 2009 H1 2010 2010 Europe Central & Eastern Europe Latam Others

Investor Meeting – November, 2010 42 Retail and Wholesale customer base

> Retail loans > Wholesale loans

BPF provides Peugeot and Citroën dealers BPF offers final and fleet customers (own network and third party network financing) a diversified range of financing solutions with financing for new and used vehicles and related services and replacement parts inventories

nb of vehicles financed nb of vehicles financed (in thousands of units) (in thousands of units)

1 000 2 500

900 860 2 144 800 2 000 700

600

500 1 500 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Investor Meeting – November, 2010 43 Coherent offer of financial services for a one stop-shopping

Service contracts

LOAN RELATED FINANCING SERVICES 1 400 000 (Retail credit, Leasing, (life insurance, Long-term rental) unemployment 1 200 000 insurance…) 148.5% 1 000 000 143.0% 142.4% 141.1%

800 000 133.7% 134.4%

600 000 VEHICLE RELATED 400 000 117.2% SERVICES 112.6% CAR INSURANCE 110.6% (warranty extension, 200 000 maintenance…) 0 2002 2003 2004 2005 2006 2007 2008 2009 H1 2010

Car insurance Vehicles-related services

Loan-related services Services penetration (right)

Investor Meeting – November, 2010 44 Broad geographic footprint

• Currently present in 24 countries ► Main markets: France, United Kingdom, Spain, Italy, Germany and Brazil ► Covers today 80% of PSA Peugeot Citroën’s business base

• Continuous geographic expansion: an important growth driver ► Strong growth in recent years in Latin America, Central and Eastern Europe ► Presence in China since 2004: strong growth expected in the coming decade ► Started retail and wholesale financing in Russia in 2010

• Pragmatic strategy outside of Europe: entering new markets through partnerships where appropriate (operational more rapidly, more efficient cost structure) ► Partnerships include joint-venture, financing arrangement and/or operational support (back-office functions) ► Partnerships in 11 countries ► Major partnerships in Brazil, Argentina and Russia

Investor Meeting – November, 2010 45 Strict control through banking status

• Banque PSA Finance has held a banking status since 1995, and is regulated by French banking Authorities

► Compliance with all national and international banking regulations and ratios

• Close supervision by French banking Regulator

► Monitoring, on a regular basis, of financial position and operating conditions of Banque PSA Finance

► Monitoring of compliance with liquidity, solvency and customer protection requirements

► Exercising on-site supervision, making recommendations and monitoring their implementation

► Control can be extended to all subsidiaries and branches abroad, with bank status or not

Investor Meeting – November, 2010 46 Strong focus on risk management

Managing Director

Internal Control Credit Control Collections

Permanent Control Retail, Fleet and Wholesale Phone collection Internal  Compliance Financing Fleet Field collections Audit and repossessions  Operational Risks  Scoring/Acquisition Process  Asset Quality Monitoring Treatment of special cases  Credit Analysis Termination of the contract  Management of Credit Lines according to legal rules

3 levels of Internal Control Well defined Credit Control and Collections processes

• 1st level: operational and management control • Highly formalized credit approval and collection processes nd • 2 level: continuous control performed by the • Specialized control teams in the field Permanent Control Department • 3rd level: control performed by Internal Audit on a three- year rolling basis Around 50 people in the Permanent Control and Around 140 people in the Collections team Internal Audit teams Regular committees: Credit Risk committee, Refinancing and Internal Control Committee, Audit Committee Financial Risk committee, Legal Affairs and Compliance committees

Investor Meeting – November, 2010 47 Highly efficient credit risk management

• Different, internally-developed score cards for new and used cars, consumer and commercial customers, credit loans and leasing • Continuous evolutions of credit risk management process based on internal risk committee recommendations and detailed risk analysis • Input for scoring systems: ► Internal database: detailed customer profiling, including payment history, dealer’s salesman risk profile ► External data sources: local Central Banks and credit agencies data base • BPF finances only 70% of the vehicle’s value (as customers make 30% downpayments on average) • Low risk concentration: top risk less than 5% of regulatory capital, top 10 risks less than 26% of regulatory capital

Investor Meeting – November, 2010 48 Strict control of others risks

• No currency risk exposure ► BPF does not take operational currency positions. ► Structural currency positions (investments in subsidiaries and branches’) and future profits and losses are not hedged

• Interest rate risk maintained at low level ► Policy of neutralizing effect of variations in interest rates ► BPF’s average annual sensitivity to a 1% increase in interest rates remained below € 7m in the 12 months to June 2010

• Close monitoring of counterparty risks ► Exposure limited to short term investment of liquidity reserve and derivative contracts ► Counterparties for derivatives contracts are all rated “A” or higher ► Derivatives are governed by standard ISDA agreements and weekly margin calls are used with the most frequent counterparties (98% of the total portfolio as per 31, December 2009)

• BPF has no buyback obligations ► All buyback obligations retained by dealers or brands

Investor Meeting – November, 2010 49 KEY FINANCIALS Loan book characteristics

> Retail (incl.fleets): 80% / Wholesale: 20% > Outstanding loans increased by 4.3% in H1 2010, compared to FY 2009

Loan book by segment

In € bn

23.5 25 22.5 22.9 22.3 23.1 23.4 19.6 21.2 20 18.7

15

10

5

0 2002 2003 2004 2005 2006 2007 2008 2009 H1 2010

Wholesale Retail

Investor Meeting – November, 2010 51 Strong recurring profitability

Solid recurring operating income throughout Robust net banking revenue growth the crisis and strong contribution of services

Net banking revenue Recurring operating income (ROI)

(in €m) (in €m)

607 604 608 Total ROI 1037 557 981 976 520 962 944 498 913 933 876 787 412 742 658 316 505 262 269 CAGR 470 237 249 244 149 157 150 +4.3% 133 76 82

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 H1 H1 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009H1 H1 2009 2010 2009 2010

Investor Meeting – November, 2010 52 Long standing best in class cost of risk

> Cost of risk at 47bps as of June 2010

BPF Cost of risk 62 (average net loans) 59 52 In bps 44 47

35 38 36

12 22 18

• Increase in cost of risk starting H1 2008 in various countries, notably Spain, due to deteriorating economic environment • Strong additional measures taken immediately to control cost of risk ► Tightening in credit acceptance policies in all markets ► Strengthened collections teams in all countries (+30% in staff)

Investor Meeting – November, 2010 53 Strong capital Base

> Consistent increase in capital ratios > Retained earnings around 60% of net profits each year > 40% dividend ratio maintained throughout the crisis

In €m 13.76% 13.44% 4 12.93% 14% 13% 2,9 3,1 3 2,5 2,6 2,3 12% 2,0 2,1 1,8 2 1,6 11% 10% 1 9% 0 8% 2002 2003 2004 2005 2006 2007 2008 2009 H1 2010 Regulatory capital Tier 1 ratio Basel II ratio

Investor Meeting – November, 2010 54 FINANCING Financing policy 1/2

• Strict independence from the Industrial and Commercial activities of PSA Peugeot Citroën • Diversification of funding sources ► Access to Capital markets, securitizations, bank loans ► Strong support from large, well diversified group of lending banks ► Access to European Central Bank financing ► Access to a state-sponsored program put in place during the crisis to ensure liquidity for banks (“SFEF”)

Asia 1.3% Bank facilities Benelux 3.8% USA 0.5% and long-term capital markets Others 0.3% issued in H1 2010 Nordic countries 4.1% Switzerland 7.4% Germany & Austria 23.5%

Spain & Portugal 9.2%

Italy 13.6% France 22.6%

UK & Ireland 13.7%

Investor Meeting – November, 2010 56 Financing policy 2/2 Diversification of funding sources

Sources of refinancing Capital markets In €m (except non-drawn confirmed In €m bank credit lines) June 09 Dec. 09 June 10 June 09 Dec. 09 June 10

Total assets 26 092 26 026 27 225 Long-term capital markets 5 084 6 047 7 107 o/w external refinancing 20 583 20 591 21 293 Short-term capital markets 3 131 3 434 4 053 Total 8 215 9 481 11 160 11 160

9 481 8 091 8 215 6 466 5 416 5 256 4 517 3 179 4 557 4 277 3 845 2 854 3 038 3 367 2 471 3 385 2 565 2 190 2 286 2 256 2 009 2 141 1 148 1 199 990 567 631 641 0 Stockholder’s Other Bank Others* Capital Securitization CD CP Bonds + EMTN equity + liabilities facilities financing markets BMTN subordinated

External Short-term Long-term refinancing * Including SFEF and ECB refinancing June 09 Dec. 09 June 10

Investor Meeting – November, 2010 57 Prudent liquidity management

• Matching of maturities between assets and liabilities ► At June 30, 2010, 70% of the total financing with original maturity over twelve months

• Policy to secure a minimum 6 months of activity through cash and undrawn back-up facilities ► At June 30, 2010, Banque PSA Finance had access to sufficient financing to cover more than 7 months of activity without requiring any further financing

• At June 30, 2010: € 9.2bn of available liquidity ► Maturing in 20104.1% for 8%; in 2011 for 23%; in 2012 for 28%; in 2013 for 19% and in 2014 for 22% 7.4% 23.5% 5%

13.6% 22.6% 13.7%

Investor Meeting – November, 2010 58 Investment grade ratings 2 notches above PSA

Current ratings: Current ratings: BBB / Stable / A2 (outlook changed Baa1 / Negative / P2 from Negative to Stable in September 2010

"A+/A1(B-)"A+/A1 Sept 2008 (B-) "A/A2(C+)"A/A2 (C+) "A-/A3(C)"A-/A3 (C) BPF Moody's "BBB+/Baa1(C-)"BBB+/Baa1 (C-) BPF/ S&P "BBB/Baa2(D+)"BBB/Baa2 (D+) PSA / Moody's "BBB-/Baa3(D)"BBB-/Baa3 (D) "BB+/Ba1(D-)"BB+/Ba1 (D-) PSA/ S&P BB/Ba2 "BB/Ba2(E+)"B+/B1(E+) (E+) 2006 2007 2008 2009 2010 “Overall sound financial profile, low credit risk appetite and strong credit culture, conservative liquidity management, and status as a fully regulated bank under French law” (Standard and Poor’s latest release on Banque PSA Finance – June 2010)

Investor Meeting – November, 2010 59 CLOSING REMARKS Continuous focus on customer base quality to drive strong profitability

Maintain cost of risk at benchmark level

Drive profitable growth through significant expansion in Brazil, China and Russia

Increase further customer loyalty  Reinforced customer management program to increase repeat sales

Increase profitable contribution of Services  Product diversification, geographic expansion, internalization

Investor Meeting – November, 2010 61 APPENDIX

Investor Meeting – November, 2010 62 Q3 2010 key highlights

• Consolidated revenues up 10.3% vs Q3-2009 ( +4.3 % like for like)

• Automotive Division revenues up 2.3%

• Market share growth in Europe, Latin America and China

• Sustained recovery at Faurecia, with revenue up 44.1 % (11.5 % like for like)

• Reinforcement of our partnership with Dongfeng Motors and signature of a contract with Chang’An for a second JV in China

• BMW cooperation expanded to include hybrid systems

• Early repayment of €1 billion of the €3 billion French State loan

Investor Meeting – November, 2010 63 Q3 and 9 month revenues

Change like for Change like for In million euros Q3- 09 Q3-10 9M - 09 9M -10 10/09 like 10/09 10/09 like 10/09

Automotive 9 256 9 465 +2.3% - 27 914 30 639 +9.8% -

Faurecia 2 268 3 267 +44.1% +11.5% 6 648 10 093 +51.8% +21.6%

Gefco 701 794 +13.3% - 2 096 2 509 +19.7% -

Banque PSA Finance 458 464 +1.3% - 1 373 1 383 +0.7% -

Other businesses and intra-company (901) (997) -- (2 752) (3238) - eliminations

Total revenues 11 782 12 993 +10.3% +4.3% 35 279 41 386 +17.3% +11.8%

Investor Meeting – November, 2010 64 Market trends

Cars and light commercial vehicles – Market

9 M 2010 - 2.8% 9 M 2010 + 11.3% 9 M 2010 + 23.5%

Q1 2010 Q2 2010 Q3 2010 Q1 2010 Q2 2010 Q3 2010Q1 2010 Q2 2010 Q3 2010

+31.0% +22.9 % + 17.7 % + 15.1 % + 11.8% + 9.3 % +7.3 %

- 5.6 % - 11.4 %

Europe* Latin America China**

* Europe = EU + EFTA + Croatia ** Only cars

Investor Meeting – November, 2010 65 Automotive: Worldwide unit sales

Assembled vehicles and CKD units

Change Change In K units Q3 - 09 Q3-10 9M - 09 9M - 10 10/09 10/09 Europe 518 462 -10.9% 1 583 1 668 +5.4% Russia 9 17 +82.9% 33 39 +18.6% Latin America 62 78 +26.3% 174 205 +17.7% Rest of the world 36 56 +60.7% 101 142 +39.8% Assembled vehicles 625 613 -1.8% 1 891 2 054 +8.6% (excluding China)

China 69 86 +24.3% 188 263 +39.9%

Total assembled vehicles 694 699 +0.8% 2 079 2 317 +11.4%

Total CKD 94 109 +16.2% 295 347 +17.6%

Total assembled vehicles + 788 808 +2.6% 2 375 2 664 +12.2% CKD units

Investor Meeting – November, 2010 66 Market share growth outside Europe

Cars and light commercial vehicles – Market share

Q3 2009 Q3 2010Q3 2009 Q3 2010Q3 2009 Q3 2010

5.8 % 5.2 % 3.2 % 3.4 % 2.8 % 3.0 %

Russia Latin America China*

* Only cars

Investor Meeting – November, 2010 67 New model momentum

2009

PEUGEOT 3008 CITROËN C3 Picasso

New CITROËN C3

Investor Meeting – November, 2010 68 New model momentum

2010 End of 2010 2011

PEUGEOT RCZ CITROËN DS3 New CITROËN C4 PEUGEOT 508 et 508SW

PEUGEOT 408 CITROËN C5 China PEUGEOT i0n CITROËN DS4

PEUGEOT Hoggar CITROËN Aircross CITROËN C Zero PEUGEOT 3008 Hy4

Investor Meeting – November, 2010 69 New car revenue analysis

In million euros

Volumes Price Product Country FX Others mix mix

+ 3.5% - 5.5% - 0.3% 6 881 - 1.8% + 5.8% 6 898 - 1.5%

+ 0.2%

New car New car revenues revenues

Q3-09 Q3-10

Investor Meeting – November, 2010 70 Inventory

In thousands of new vehicles

92 days

Inventory rotation 628 61 days 62 days Total 53 days

367 468 440 401 270 Group inventory 213 234 Independent dealership 261 inventory 188 206 198

31.12.08 30.09.09 31.12.09 30.09.2010

Investor Meeting – November, 2010 71 Faurecia

Change Like for Change Like for In million euros Q3 - 09 Q3-10 9M - 09 9M - 10 10/09 like * 10/09 like * Automotive Seating 951 1 021 +7.3% +3.2% 2 641 3 224 +22.1% +19.6%

Interior Systems 524 610 +16.3% +11.1% 1 513 1 975 +30.5% +26.8% Emissions Control 244 603 +147.3% +21.8% 673 1 805 +168.2% +35.5% Technologies Systems Automotive Exteriors 186 290 +55.5% +3.2% 562 874 +22.1% +19.6% Total Product 1 906 2 524 +32.4% +9.2% 5 390 7 878 +46.2% +24.7% revenues Monolith revenues 204 528 +158.5% +22.5% 604 1 583 +161.9% +27.7% Development, Tooling & 158 215 +36.2% +14.4% 654 632 -3.4% -15.0% Prototype revenues Total revenues 2 268 3 267 +44.1% +11.5% 6 648 10 093 +51.8% +21.6%

* At constant exchange rates and scope.

Investor Meeting – November, 2010 72 Gefco

Change Change In million euros Q3 - 09 Q3-10 9M – 09 9M - 10 10/09 10/09

PSA Peugeot Citroën 450 496 +10.2% 1 325 1 620 +22.3%

Third parties 251 298 +18.9% 772 889 +15.2%

Total revenues 701 794 +13.3% 2 096 2 509 +19.7%

Investor Meeting – November, 2010 73 Banque PSA Finance

Change Change Q3 - 09 Q3-10 9M - 09 9M - 10 10/09 10/09

Revenues €458 mn €464 mn +1.3% 1 373 1 383 +0.7%

Total outstanding loans - - €22.5 bn €22.8 bn +1.6% (average) Number of new contracts 201 500 207 000 +2.7% 651 000 642 000 - 1.4 % (lease and financing)

Investor Meeting – November, 2010 74 Looking ahead for Q4

• Order books remain solid

• Benefits expected from model launches

• Further new model momentum

• Electric vehicle launches in Q4 PEUGEOT i0n CITROËN C-Zéro

• Benefits of performance plan feeding through

Investor Meeting – November, 2010 75 New outlook

> Market assumptions • Europe: down 5% • China: up c.20 % • Latin America: up c.10 %

> Objectives for 2010 • Automotive recurring operating income: break even in H2 • Group recurring operating income: > €1.5bn for the full year 2010 • Net debt position: at a similar level to the end of June 2010

Investor Meeting – November, 2010 76 PRODUCTS

Investor Meeting – November, 2010 77 Products range

> 107 > 206+ > 207 > 308 > 308cc > 407 > Coupé 407

> 607 > 807 > 3008 > 4007 > 5008 > RCZ > Satelis 500

> Bipper > Boxer > Expert > Partner > Partner Teepee > 207 notchback > 307 notchback

> 408 (China) > Hoggar (LatAm) > 3008 hybrid 4 > iOn (electric) > 508

Passenger vehicles Light commercial vehicles China & Latin America Next launches

Investor Meeting – November, 2010 78 Products range

> C1 > New C3 > C3 Picasso > DS3 > New C4 > C4 Picasso > C5

> C5 Tourer > C6 > C8 > C Crosser > Xsara Picasso > Berlingo First > Berlingo VU

> Jumper > Jumpy > Nemo > C3 Aircross > C4 Sedan > C2 China > C5 China

> C-Élysée > C4 > C-Triomphe > C-Zero (electric) > DS4

Passenger vehicles Light commercial vehicles Latin America China Next launches

Investor Meeting – November, 2010 79