Q3 2017 Results November 2nd, 2017

Q3 2017 Results November 2nd, 2017 11 SAFE HARBOUR STATEMENT

This document, and in particular the section entitled “2017 Outlook”, contains forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “on track”, “successful”, “grow”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on the Group’s current expectations and projections about future events and, by their nature, are subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in such statements as a result of a variety of factors, including: the Group’s ability to preserve and enhance the value of the brand; the success of Ferrari’s Formula 1 racing team and the expenses the Group incurs for Formula 1 activities; the Group’s ability to keep up with advances in high performance car technology and to make appealing designs for its new models; the challenges and costs of integrating hybrid technology more broadly into Group’s car portfolio over time; the Group’s ability to preserve its relationship with the automobile collector and enthusiast community; the Group’s low volume strategy; the ability of Maserati, the Group’s engine customer, to sell its planned volume of cars; changes in client preferences and automotive trends; changes in the general economic environment and changes in demand for luxury goods, including high performance luxury cars, which is highly volatile; the impact of increasingly stringent fuel economy, emission and safety standards, including the cost of compliance, and any required changes to its products; the Group’s ability to successfully carry out its growth strategy and, particularly, the Group’s ability to grow its presence in emerging market countries; the Group’s ability to service and refinance its debt; competition in the luxury performance automobile industry; reliance upon a number of key members of executive management, employees and the ability of its current management team to operate and manage effectively; the performance of the Group’s dealer network on which the Group depend for sales and services; increases in costs, disruptions of supply or shortages of components and raw materials; disruptions at the Group’s manufacturing facilities in Maranello and Modena; the Group’s ability to provide or arrange for adequate access to financing for its dealers and clients, and associated risks; the performance of the Group’s licensees for Ferrari-branded products; the Group’s ability to protect its intellectual property rights and to avoid infringing on the intellectual property rights of others; product recalls, liability claims and product warranties; continued compliance with customs regulations of various jurisdictions; labor relations and collective bargaining agreements; exchange rate fluctuations, interest rate changes, credit risk and other market risks; changes in tax, tariff or fiscal policies and regulatory, political and labor conditions in the jurisdictions in which the Group operates; ability to ensure that its employees, agents and representatives comply with applicable law and regulations; the adequacy of its insurance coverage to protect the Group against potential losses; potential conflicts of interest due to director and officer overlaps with the Group’s largest shareholders; ability to maintain the functional and efficient operation of its information technology systems and other factors discussed elsewhere in this document. Any forward-looking statements contained in this document speak only as of the date of this document and the Company does not undertake any obligation to update or revise publicly forward-looking statements. Further information concerning the Group and its businesses, including factors that could materially affect the Company’s financial results, is included in the Company’s reports and filings with the U.S. Securities and Exchange Commission, the AFM and CONSOB. Q3 2017 Results November 2nd, 2017 22 A RECORD THIRD QUARTER

• Solid revenues of €836 million (+7%) driving adj. EBIT(1) to €202 million (+17%)

• presented in September, already with a robust waiting list

• Strong success of Ferrari’s client relations activities

• 2017 Outlook revised upward

ON THE WAY TO 1 BILLION EURO ADJ. EBITDA

Note:(1) Reconciliations to non-gaap financial measures are provided in the appendix Q3 2017 Results November 2nd, 2017 3 Q3 2017 HIGHLIGHTS

Shipments Q3 '17 2,046 Net revenues Q3 '17 838 836 (units) +3.4% (€M) +6.7% Q3 '16 1,978 Q3 '16 783 783

Total shipments up 68 units mainly driven by 27% increase in V12 models. Few units decrease of Net revenues up 6.7% (9.3% at constant currencies, mainly due to USD weakening vs. Euro) V8 mostly due to the California T phase-out: • Cars and spare parts leading the way with volume, mix and pricing The GTC4Lusso and the 488 families The California T and the F12berlinetta • Partially offset by Engines due to the termination of the rental agreement with a Formula 1 racing continue to perform strongly phasing-out, as well as F12tdf finishing its team and slightly lower sales to Maserati due to a different production schedule as well as the LaFerrari Aperta fully contributing limited series run deconsolidation of the European Financial Services business (November 2016) The 812 Superfast just arrived in EMEA Deliveries of the Ferrari Portofino will commence in 2018

Adjusted EBITDA(1) Q3 '17 266 31.8% Adjusted EBIT(1) Q3 '17 202 24.2% (€M and +13.2% (€M and +17.3% margin %) Q3 '16 234 30.0% margin %) Q3 '16 172 22.0%

Adjusted EBITDA(1) grew by 13.2%, primarily driven by higher volumes, mix thanks to LaFerrari Adjusted EBIT(1) margin increased by 220 bps driven by strong adjusted EBITDA(1) Aperta and pricing. Partially offset by higher R&D expenses for innovation, components and hybrid technology.

Industrial free Q3 '17 147 Net industrial Sept. 30, 2017 (485) cash flow(1) debt(1) -17.4% -25.7% (€M) Q3 '16 178 (€M) Dec. 31, 2016 (653)

Industrial free cash flow(1) driven by strong adjusted EBITDA(1), partially offset by net change in Net industrial debt(1) reduced to €485 million thanks to positive industrial free cash flow(1) working capital, capex and lack of contribution from advances of LaFerrari Aperta. generation Second 2017 tax advance payment will impact next quarter.

Note: (1) Reconciliations to non-gaap financial measures are provided in the appendix. Q3 2017 Results Certain totals in the tables included in this document may not add due to rounding. November 2nd, 2017 4 Q3 2017 – SHIPMENTS BY REGION(2)

Americas +5.0% • USA – increased by 1% with a strong performance of the 488 family, the GTC4Lusso and the limited edition LaFerrari Aperta. Partially offset by California T and the F12berlinetta phasing-out. The F12tdf is finishing its limited series run. • The GTC4Lusso T and the 812 Superfast yet to arrive on the market

EMEA EMEA: +5.1% Americas (44% vs. 44% PY) UK – up almost 3% thanks to the 488 and the GTC4Lusso families while the 812 Superfast is yet to arrive on the market. (36% vs. 35% PY) • The California T and the F12berlinetta phasing-out, while the F12tdf is finishing its limited series run. • Double-digit growth in Italy (+24%) and France (+23%) thanks to the 488 and the GTC4Lusso families as well as the 812 Superfast just arrived on the market. Germany flat due to the California T and the F12berlinetta phasing-out. • Other European countries up double-digit, while Middle East recorded a decrease due to reallocation triggered by tough market conditions

China, Hong Kong and Taiwan, on a combined basis: -15.6% • China – mid single-digit growth supported by the GTC4Lusso family. 812 Superfast is yet to arrive on the market. • Hong Kong – slowdown as the new dealership became fully operational in Q3 2017 • Taiwan – few units decrease due to the California T and the F12berlinetta phasing-out China, Hong Kong and Rest of APAC Rest of APAC: +7.1% Taiwan, on a (13% vs. 12% PY) • Japan – shipments up 16% thanks to V8 models, the GTC4Lusso and LaFerrari Aperta. Partially offset by the combined basis F12berlinetta phasing-out and the F12tdf finishing its limited series run. (7% vs. 9% PY) • Australia – substantially in line with prior year • Other APAC – shipments in line with prior year

SOLID PERFORMANCE OF THE 488 AND THE GTC4LUSSO FAMILIES AS WELL AS LAFERRARI APERTA. 812 SUPERFAST JUST ARRIVED IN EMEA Q3 2017 Results Note: (2) Refer to notes to the presentation in the Appendix November 2nd, 2017 5 NET REVENUES BRIDGE Q3 2016-2017

(€M) +12.7% -9.8% -1.3% -18.8% +6.7%, +€53 million 836 (+9.3% at constant currencies, mainly 68 due to USD weakening vs. Euro) 783 19 24 (9) (1) (5) 124 125 88 97

537 605

Q3 2016 Cars and spare parts(3) Engines(4) Sponsorship, Other(6) Q3 2017 commercial and brand(5)

Cars and spare parts Engines Sponsorship, commercial and brand Other

• Cars and spare parts: higher volumes and positive mix led by the 488 and the GTC4Lusso families, as well as LaFerrari Aperta along with a greater contribution from personalization programs and pricing increases. Partially offset by the non-registered racing car FXX K completing its limited series run in 2016. • Engines: slight decrease due to the termination of the rental agreement with a Formula 1 racing team and slightly lower sales to Maserati due to a different production schedule • Sponsorship, commercial and brand: almost in line with prior year mostly due to lower 2016 championship ranking compared to 2015. Partially offset by higher sponsorship revenues and brand related revenues. • Other: decrease mostly due to the deconsolidation of the European Financial Services business since November 2016

Q3 2017 Results Note: Refer to notes to the presentation in the Appendix November 2nd, 2017 6 ADJ. EBIT BRIDGE Q3 2016 – 2017(1)

(€M) 23 202 14 0 17 7 179 185 172 (8) (2) (21)

Margin Margin Margin Margin 22.6%(7) 24.2% 22.0% 22.7%(7)

Adj. EBIT Q3 FX hedges Adj. EBIT Q3 Vol. Mix Ind. Costs / SG&A FX Other Adj. EBIT Q3 FX hedges Adj. EBIT Q3 2016 Q3 2016 2016 w/o FX R&D 2017 w/o FX Q3 2017 2017 Top high end hedges hedges luxury peers(8) Adj. EBITDA Adj. EBITDA Adj. EBITDA w/o FX hedges (7) w/o FX hedges (7) Adj. EBITDA EBITDA 234 241 249 266 Margin(8) 30.0% 30.5% 30.4% 31.8% 33% - 37%

• Volume increase of approx. 55 cars (excluding LaFerrari Aperta) thanks to the GTC4Lusso and the 488 families, together with positive contribution from personalization. Partially offset by the California T and the F12berlinetta phasing-out. • Positive mix impacted by LaFerrari Aperta as well as pricing increases. This was partially offset by the non-registered racing car FXX K that completed its limited series run in 2016. • Industrial costs / R&D increased mainly due to higher R&D expenses to support product range and components innovation for hybrid technology. Partially offset by lower spending in F1 activities. • SG&A slightly higher than prior year, impacted by costs related to the 70th anniversary and the approved Long-Term Incentive plan. Partially offset by the deconsolidation of the European Financial Services business since November 2016. • FX, excluding hedges, negatively impacted mostly due to USD, JPY and GBP depreciation • Other in line with previous year due to positive contribution from supporting activities, offset by lower 2016 championship ranking compared to 2015, the termination of the rental agreement with a Formula 1 racing team and the deconsolidation of the European Financial Services business since November 2016

Note: (1) Reconciliations to non-gaap financial measures are provided in the appendix Q3 2017 Results (7) Margins without FX hedges have been calculated excluding FX hedges impact from net revenues, adjusted EBIT and adjusted EBITDA November 2nd, 2017 7 (8) Ferrari’s elaboration on FY 2016 publicly available data on a panel of high end luxury peers NET INDUSTRIAL DEBT BRIDGE(1) JUN 30, 2017 – SEPT 30, 2017

(€M) Industrial FCF €147m

266

(627) 9

(1) (4) (485) (1) (93) (34)

June 30, 2017 EBITDA Net ∆ working Tax paid Capex Other Cash distribution FX and other September 30, Net Industrial capital and dividends 2017 Debt paid Net Industrial Debt

• Net change in working capital: decreases in trade payables and inventory due to seasonality in conjunction with the scheduled summer shutdown

• Tax paid: second 2017 tax advance payment will impact Q4 2017

• Other: positively impacted by accruals and reserves related to deferred compensations as well as provisions, partially offset by lack of contribution from advances of LaFerrari Aperta

Q3 2017 Results Note: (1) Reconciliations to non-gaap financial measures are provided in the appendix November 2nd, 2017 8 A GT that represents a unique The renowned Ferrari V8 turbo, part of Capable of unleashing a massive 600 cv, combination of sportiness, elegance the engine family that was nominated the Ferrari Portofino is the most and on board comfort International Engine of the Year in powerful to combine the both 2016 and 2017, now punches advantages of a retractable hard top, a out 40 cv more than the California T’s roomy boot and generous cockpit space power unit plus two rear seats suitable for short trips.

Q3 2017 Results November 2nd, 2017 99 Q3 2017 – CLIENT RELATIONS ACTIVITIES

WORLD TOUR

China, August 12th – 17th USA, August 18th – 20th Italy, September 2nd – 3rd Italy, September 8th – 10th

Maranello Weekend September 8th – 10th Portofino World Premiere th th RM Auction September 7 - 8 Frankfurt Motorshow Concours d’Elegance Florence, Italy th September 12th - 24th Celebration of 70 anniversary at home September 25th – 30th

Q3 2017 Results November 2nd, 2017 10 Q3 2017 – ATTIVITA’ SPORTIVE GT

COMPETIZIONI GT XX PROGRAMS / F1 CLIENTI FIA WEC 1st - 6 Hours of Circuit of the Americas Average entries per round Average entries per round (GTE-Pro ) EUROPE 41 (round 5) XX: 23 IMSA NORTH AMERICA 45 (round 6) F1: 8 2017 Team, Drivers and Manufacturer Champions (GTD) ASIA PACIFIC 29 (round 6)

CONTINUOUSLY ENGAGING WITH OUR CUSTOMERS

Q3 2017 Results November 2nd, 2017 11 Q3 2017 – OTHER ACTIVITIES

Licensing • Launch of “Bianchi for ” project with “SF01” world premiere at Eurobike show • New license agreement with Cybex for Scuderia Ferrari infant car seats and a collection of strollers

Retail • At the end of September 2017, managing 18 directly operated stores and 29 franchised locations (including 7 Ferrari Store Junior). • New Store at “Scalo Milano” opened in September 2017

Museums • More than 432,000 visitors since the beginning of the year between Maranello and Modena, up 11% vs. prior year

Q3 2017 Results November 2nd, 2017 12 2017 OUTLOOK REVISED UPWARD

Revised Outlook Previous Outlook 2017 Drivers

Shipments (9) Strong contribution from range models (including ~ 8,400 Same special liveries) and LaFerrari Aperta

Top line growth driven by Cars and spare parts as well as Engines, partially offset by different F1 Net Revenues ~ €3.4 billion >€3.3 billion ranking and deconsolidation of the European Financial Services business

Positive contribution from both Volume and Mix, Adj. EBITDA(1) ~ €1 billion > €950 million partially offset by R&D and SG&A (F1, new stores and 70th anniversary)

Strong adj. EBITDA, partially offset by capex to support continuous product range renewal and Net Industrial Debt(1) < €500 million(10) ~ €500 million(10) R&D for hybridization, taxes, lack of advances on limited edition and cash distributions to holders of common shares

Note: (1) Reconciliations to non-gaap financial measures are provided in the appendix (9) Including supercars (10) Including a cash distribution to the holders of common shares and excluding potential share repurchases Q3 2017 Results November 2nd, 2017 13 Q&A

Q3 2017 Results November 2nd, 2017 14 Appendix NOTES TO THE PRESENTATION

1. Reconciliations to non-gaap financial measures are provided in licensing and royalty income the appendix 6. Primarily includes interest income generated by our financial 2. Shipments geographical breakdown services activities and net revenues from the management of the EMEA includes: Italy, UK, Germany, Switzerland, France, Middle Mugello racetrack East (includes the United Arab Emirates, Saudi Arabia, Bahrain, 7. Margins without FX hedges have been calculated excluding FX Lebanon, Qatar, Oman and Kuwait) and Rest of EMEA (includes hedges impact from net revenues, adjusted EBIT and adjusted Africa and the other European markets not separately identified); EBITDA Americas includes: United States of America, Canada, Mexico, the Caribbean and Central and South America; China, Hong 8. Ferrari’s elaboration on FY 2016 publicly available data on a Kong and Taiwan includes, on a combined basis: China, Hong panel of high end luxury peers Kong and Taiwan; 9. Including supercars Rest of APAC includes: Japan, Australia, Singapore, Indonesia and South Korea 10.Including a cash distribution to the holders of common shares and excluding potential share repurchases 3. Includes the net revenues generated from shipments of our cars,

including any personalization revenue generated on these cars and sales of spare parts 4. Includes the net revenues generated from the sale of engines to Maserati for use in their cars, and the revenues generated from the rental of engines to other Formula 1 racing teams 5. Includes the net revenues earned by our Formula 1 racing team through sponsorship agreements and our share of the Formula 1 World Championship commercial revenues and net revenues generated through the Ferrari brand, including merchandising,

Q3 2017 Results November 2nd, 2017 16 STRONG TRACK-RECORD IN NEW MODELS INTRODUCTION Product Line-Up (at least a new model launched every year)

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 F430 F430 Spider F430 Scuderia California Scuderia Spider 16M 458 Italia 458 Spider

V8 California 30 458 Speciale California T Portofino 458 Speciale A 488 GTB 488 Spider GTC4Lusso T 612 Scaglietti Superamerica 599 GTB Fiorano 599 GTO SA APERTA FF

F12berlinetta V12 F12tdf GTC4Lusso 812 Superfast Supercars LaFerrari LaFerrari Aperta

nd Q3 2017 Results Special series and one-offs not included November 2 , 2017 17 LIMITED SERIES In and out from our portfolio

2015 2016 2017 2018

F12tdf

LaFerrari

LaFerrari Aperta

FXX K(11)

F60 America(11)

J50(11)

nd Q3 2017 Results Note: (11) Models not included in the total shipments’ figure provided November 2 , 2017 18 GROUP SHIPMENTS(2)

6,381 ~8,400 6,074 +5.1% 8,014 +3.4% 2,046 912 ~1,150 1,978 818 1,098 453 ~650 238 255 496 619 152 180 2,078 ~2,800 1,998 2,687 736 701

2,762 2,938 3,610 ~3,800 859 903

Q3 2016 Q3 2017 9M 2016 9M 2017 FY 2016 FY 2017E

EMEA Americas China, Hong Kong and Taiwan, Rest of APAC on a combined basis

Note: (2) Refer to notes to the presentation in the Appendix Q3 2017 Results November 2nd, 2017 19 Graphs not to scale. Shipments including supercars LaFerrari and LaFerrari Aperta KEY PERFORMANCE METRICS

Q3 '17 Q3 '16 €M, unless otherwise stated 9M '17 9M '16

2,046 1,978 Worldwide shipments (units) 6,381 6,074

836 783 Net revenues 2,577 2,269

266 234 EBITDA(1) 778 619

- - Adjustments - 10

266 234 Adjusted EBITDA(1) 778 629

64 62 Amortization and depreciation 197 180

202 172 EBIT 581 439

202 172 Adjusted EBIT(1) 581 449

8 11 Net financial expenses 25 25

194 161 Profit before taxes 556 414

53 48 Income tax expense 155 126

27.6% 29.8% Effective tax rate 28.0% 30.4%

141 113 Net profit 401 288

141 113 Adjusted net profit (1) 401 295

0.74 0.59 Basic and diluted EPS (€) 2.11 1.52

0.74 0.59 Adjusted EPS(1) (€) 2.11 1.56

Note: (1) Reconciliations to non-gaap financial measures are provided in the appendix. Q3 2017 Results November 2nd, 2017 20 Certain totals in the tables included in this document may not add due to rounding. DEBT AND LIQUIDITY POSITION

Gross Debt Maturity Profile (€M) Cash and Marketable Securities (€M) Cash Maturities Sep. 30 Jun. 30 Mar. 31 Adj. 442 500 383 (€M) 2017 2017 2017 FY 2016 FY 2015(12) FY 2015 4 4 302 240 169 181 2 Euro 443 280 394 318 137 22 101 500 41 US Dollar 60 24 59 16 21 1 29 199 199 199 Chinese Yuan 57 61 66 58 106 106 99 Japanese Yen 31 28 19 37 41 41 2017 2018 2019 2020 2023 Other Currencies 28 30 31 29 17 13 Term Loan Bond US Securitizations Other Financial Liabilities Total (€ equivalent) 619 423 569 458 322 183

Net Cash/Net Industrial Debt (€M) Net Industrial Debt (€M)

At Sep. 30 At Jun. 30 At Mar. 31 At Dec. 31 (€M) 2017 2017 2017 2016 2015 (485) Gross Debt (1,798) (1,755) (1,870) (1,848) (2,260) Cash & Cash Equivalents 619 423 569 458 183 Deposits in FCA Cash Management (1,179) Pools - - - - 139 694 o/w 79% (Net Debt)/Net Cash (1,179) (1,332) (1,301) (1,390) (1,938) securitized(13) Funded Self-Liquidating Financial 694 705 723 737 1,141 Receivables Portfolio (Net Industrial Debt)/Net Industrial Funded Self-liquidating Cash (485) (627) (578) (653) (797) September 30, 2017 September 30, 2017 Financial Undrawn Committed Credit Lines 500 500 500 500 500 Net Debt Net Industrial Debt Receivables Portfolio

Total Available Liquidity 1,119 923 1,069 958 822 Note: (12) After settlement of deposits on FCA Group cash management pools and financial liabilities with FCA Q3 2017 Results (13) Portion of the Self-liquidating Financial Receivables Portfolio funded through securitizations November 2nd, 2017 21 Certain totals in the tables included in this document may not add due to rounding.

NON-GAAP FINANCIAL MEASURES

Non-GAAP financial measures

Operations are monitored through the use of EBITDA is defined as net profit before income tax expense, net financial expenses and various Non-GAAP financial measures that depreciation and amortization. Adjusted EBITDA is defined as EBITDA as adjusted for may not be comparable to other similarly income and costs, which are significant in nature, but expected to occur infrequently. titled measures of other companies Adjusted Earnings Before Interest and Taxes (“Adjusted EBIT”) represents EBIT as Accordingly, investors and analysts should adjusted for income and costs, which are significant in nature, but expected to occur exercise appropriate caution in comparing infrequently these supplemental financial measures to Adjusted net profit represents net profit as adjusted for income and costs, which are similarly titled financial measures reported by significant in nature, but expected to occur infrequently other companies Adjusted earnings per share represents earnings per share as adjusted for income and We believe that these supplemental financial costs, which are significant in nature, but expected to occur infrequently measures provide comparable measures of our financial performance which then Net Industrial Debt defined as Net Debt excluding the funded portion of the self- facilitate management’s ability to identify liquidating financial receivables portfolio, is the primary measure to analyze our financial operational trends, as well as make decisions leverage and capital structure, and is one of the key indicators used to measure our regarding future spending, resource financial position allocations and other operational decisions Free Cash Flow and Free Cash Flow from Industrial Activities are two of management’s primary key performance indicators to measure the Group’s performance. Free Cash flow is defined as net cash generated from operations less cash flows used in investing activities. Free Cash Flow from Industrial Activities is defined as Free Cash Flow adjusted for the change in the self-liquidating financial receivables portfolio.

Q3 2017 Results November 2nd, 2017 22 RECONCILIATION OF NON-GAAP MEASURES: ADJUSTED EBIT

Q3 '17 Q3 '16 €M 9M '17 9M '16

202 172 EBIT 581 439

Charges for Takata airbag - - - 10 inflator recalls

202 172 Adjusted EBIT 581 449

Q3 2017 Results November 2nd, 2017 23 RECONCILIATION OF NON-GAAP MEASURES: EBITDA

Q3 '17 Q3 '16 €M 9M '17 9M '16

141 113 Net profit 401 288

53 48 Income tax expenses 155 126

8 11 Net financial expenses 25 25

64 62 Amortization and depreciation 197 180

266 234 EBITDA 778 619

Q3 2017 Results November 2nd, 2017 24 RECONCILIATION OF NON-GAAP MEASURES: ADJUSTED EBITDA

Q3 '17 Q3 '16 €M 9M '17 9M '16

266 234 EBITDA 778 619

Charges for Takata airbag - - - 10 inflator recalls

266 234 Adjusted EBITDA 778 629

Q3 2017 Results November 2nd, 2017 25 RECONCILIATION OF NON-GAAP MEASURES: ADJUSTED NET PROFIT

Q3 '17 Q3 '16 €M 9M '17 9M '16

141 113 Net profit 401 288

Charges for Takata airbag - - - 7 inflator recalls (net of tax effect)

141 113 Adjusted net profit 401 295

Q3 2017 Results November 2nd, 2017 26 BASIC AND DILUTED EPS

Q3 '17 Q3 '16 €M (unless otherwise stated) 9M '17 9M '16

Net profit attributable to owners 140 113 400 288 of the Company Weighted average number of common 188,954 188,923 188,951 188,923 shares (thousand)

0.74 0.59 Basic EPS (€) 2.11 1.52

Weighted average number of common 189,759 188,923 shares for diluted earnings per common 189,759 188,923 share (thousand)

0.74 0.59 Diluted EPS (€) 2.11 1.52

Q3 2017 Results November 2nd, 2017 27 RECONCILIATION OF NON-GAAP MEASURES: ADJUSTED EPS

Q3 '17 Q3 '16 € per common share 9M '17 9M '16

0.74 0.59 EPS 2.11 1.52

Charges for Takata airbag - - - 0.04 inflator recalls (net of tax effect)

0.74 0.59 Adjusted EPS 2.11 1.56

Q3 2017 Results November 2nd, 2017 28 RECONCILIATION OF NON-GAAP MEASURES: FREE CASH FLOW AND FREE CASH FLOW FROM INDUSTRIAL ACTIVITIES

Q3 '17 Q3 '16 €M 9M '17 9M '16

227 250 Cash flow from operating activities 515 566

(93) (75) Cash flows used in investing activities(14) (247) (232)

134 175 Free Cash Flow 268 334

Change in the self-liquidating financial 13 3 47 17 receivables portfolio

147 178 Free Cash Flow from Industrial Activities 315 351

Note: (14) Cash flow used in investing activities for the nine months ended September 30, 2017 excludes proceeds from exercising the Delta Topco option of Euro 8 million

Q3 2017 Results November 2nd, 2017 29 RECONCILIATION OF NON-GAAP MEASURES: NET INDUSTRIAL DEBT

€M September 30, 2017 June 30, 2017 March 31, 2017 December 31, 2016

Net Industrial Debt (485) (627) (578) (653)

Funded portion of the self-liquidating 694 705 723 737 financial receivables portfolio

Net Debt (1,179) (1,332) (1,301) (1,390)

Cash and cash equivalents 619 423 569 458

Gross Debt (1,798) (1,755) (1,870) (1,848)

Q3 2017 Results November 2nd, 2017 30