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Universal Registration Document 2020 Including the Annual Financial Report and the Integrated Report Contents

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Universal Registration Document 2020 Including the Annual Financial Report and the Integrated Report Contents Universal Registration Document 2020 including the Annual Financial Report and the Integrated Report Contents Integrated report 2 1. Financial and accounting information 55 1.1.Review of the Group’s business and consolidated results 56 1.2.Outlook 68 1.3. Consolidated financial statements for the year ended December 31, 2020 69 1.4. Statutory auditors’ report on the consolidated financial statements for the year ended December 31, 2020 133 1.5.Review of Company’s business and financial results 140 1.6. Parent company’s financial statements for the year ended December 31, 2020 143 1.7. Statutory auditors’ report on the financial statements for the year ended December 31, 2020 165 2. Risk factors and management 171 2.1.Contributors and systems 172 2.2.Description of the main risks 178 2.3.Insurance and risk coverage 201 3. Corporate governance 203 3.1.Board of Directors 204 3.2.Operational management of the Group 246 3.3.Compensation of corporate officers 248 3.4. Summary of compliance with the recommendations of the AFEP-MEDEF Code 279 3.5. Shareholding by corporate officers and transactions in the Company’s securities 280 3.6. Declarations of the members of the Board of Directors and Executive Management 282 3.7. Authorizations relating to sureties, endorsements and guarantees 283 3.8.Agreements 283 3.9Other information 285 4. Extra Financial Performance 287 4.1.Faurecia’s Corporate Social Responsibility strategy 288 4.2.Social performance 303 4.3.Environmental performance 325 4.4.Societal performance 346 4.5. Report by the independent third party on the non-financial statement 356 4.6.Cross-reference tables 359 5. Capital stock and shareholding structure 371 5.1.Shareholding 372 5.2.Capital stock 376 5.3.Transactions carried out by the Company in its own shares 382 5.4.Share price 384 5.5.Relationship with the financial community 387 6. Other infomation 389 6.1.Legal information 390 6.2.Organizational structure as of December 31, 2020 396 6.3.Background 398 6.4.Additional information on audits of financial statements 401 6.5. Declaration by the person responsible for the Universal Registration Document and the information officer 402 6.6.Cross-reference tables 403 / Universal Registration Document 2020 / Universal Registration Document 2020 1 Integrated Report Overview This integrated report enables all stakeholders to better understand the company's vision and strategy for profi table growth. Faurecia's business model is focused on creating value for all its stakeholders, both in terms of fi nancial and non-fi nancial performance, over the short and long term. This document is the introductory chapter of Faurecia’s 2020 Universal Registration Document. For further information please consult the Group’s website www.faurecia.com 2 / Universal Registration Document 2020 Content 04. Faurecia, a world leading automotive technology Transformation company 07. Interview with Patrick Koller, and value creation Chief Executive Officer 14. A world in permanent disruption 10. 2020 Financial 16. Our strategic solutions and priorities 17. performance & roadmap Sustainable development fully integrated into Faurecia’s strategy and culture 12. 2020 CSR indicators 18. Our business model for value creation & roadmap 20. Cockpit of the Future 24. Sustainable Mobility 28. CO2 neutrality by 2030 32. Acceleration through innovation and ecosystems Commitment and operational agility 36. Employee engagement at the heart of our culture 38. Committed to diversity and future generations 39. Our positive impact on society 40. Total Customer Satisfaction driven by operational excellence 42. Digital transformation across the Group for agility and efficiency Strong Governance and Risk Management 45. Message from Michel de Rosen, Chairman of the Board 46. An active and committed Board of Directors 48. A diverse and international Executive Committee 50. An efficient risk management system 52. Strong values for ethics and strict respect for compliance / Universal Registration Document 2020 3 Profile —> A world Faurecia is a leading automotive technology leading company developing solutions for Sustainable automotive Mobility and the Cockpit technology of the Future. company €14,654M 114,000 SALES IN 2020 EMPLOYEES OF 103 NATIONALITIES 35 266 39 COUNTRIES INDUSTRIAL SITES R&D CENTERS 4 / Universal Registration Document 2020 Profile 4 Business Groups 26% 38% 31% 5% of Group sales of Group sales of Group sales of Group sales Clean Mobility Seating Interiors Clarion Electronics Innovative Technologies Full interior systems Electronics, solutions to drive for a safe, smart with premium quality software & Artificial mobility & industry & comfortable integration Intelligence toward zero emissions onboard experience for personalized • Instrument panels user experiences • Ultra-low emissions • S eat structure • Door panels solutions systems • Center consoles • Cockpit electronics • Commercial vehicles • Complete seats • Sustainable & smart • Display technologies and Industry • Covers and foam materials • Advanced Driver • Z ero-emission solutions • Interior modules Assistance Systems hydrogen solutions Sales by region 47% 25% EUROPE NORTH AMERICA 24% 4% ASIA SOUTH AMERICA AND REST OF THE WORLD / Universal Registration Document 2020 5 Interview “We move into 2021 with a strong ambition and new perspectives for development.” 6 / Universal Registration Document 2020 Interview Interview with Patrick Koller Chief Executive Officer —> A transformation strategy to meet the challenges facing the automotive industry Over the past few years Faurecia has One of the key issues of the industry signifificantly transformed its business is zero emissions. What are you doing through acquisitions and partnerships. in thisfi eld? Could you explain your strategy? This question is at the core of our strategy Faurecia’s mission is to develop technologies for Sustainable Mobility and we are investing for Sustainable Mobility and to create signififi cantly in fuel cell technology. Expanding personalized experiences for the Cockpit the use of hydrogen is a cornerstone of the of the Future. At the same time, we offer energy transition. Green hydrogen could supply solutions to meet the challenges of future almost 20% of the world’s energy demand by generations. This mission guides our 2050. Its natural abundance and versatility transformation strategy and our investment. of production can help solve several critical In 2019, we created our fourth Business Group, energy decarbonization challenges in the Faurecia Clarion Electronics, accelerated our future. Hydrogen is perfectly suited in particular investment in fuel cell technologies for zero- to commercial vehicles, given its benefifits in emissions mobility and launched our ambitious terms of refueling time and autonomy. program to be CO2 neutral by 2030. Our new Business Group, which is head- quartered in Japan, is a fundamental enabler of our Cockpit of the Future strategy and will drive the development of personalized and connected experiences for all occupants. The integration of Clarion is now completed Our strategy is aligned with and the Business Group is on a solid trajectory for profifitable growth as demonstrated by the needs of the automotive the high level of order intake in 2020. industry as we invest in fuel Another acquisition you made cell technology and our CO2 in 2020 was that of SAS Interior Modules. How does this contribute to neutral initiative. the Group’s strategy? SAS has a strong expertise in systems integration and product diversity management Faurecia aims to become a leader both in and gives us the ability to integrate a full hydrogen storage systems and distribution range of interior modules and functionalities. services, for which we have created a center It strengthens Faurecia’s Just-in-Time network of excellence in France, and in fuel cell stack and logistics competences. SAS has strong systems and services through our joint growth potential in North America and in China venture with Michelin. We strongly believe in and has also shown a very strong order this technology as an answer for sustainable intake in 2020. mobility. / Universal Registration Document 2020 7 Interview The second aspect of the question is how we reduce our own emissions. The latest science has made it clear that more needs to be done urgently in order to avoid the worst impacts of climate change. As a company, Faurecia has a strong conviction that we need to make a positive contribution to the planet. We launched our CO2 neutral program at the end of 2019 and we have created a partnership with Schneider Electric to support our ambition to become CO2 neutral for our internal emissions across all of our 300 sites by 2025 (scopes 1 & 2). By 2030, we will converge towards neutrality for our controlled emissions (scope 3 excluding emissions of vehicles equipped with Faurecia products). I am particularly pleased that our CO2 neutral trajectory was recently approved by the SBTi (see p.30). Through this program we want to both reduce our environmental impact and create long-term value across our entire supply chain. —> Agility and resilience strengthened in 2020 Obviously 2020 was an exceptional year with the pandemic and ensuing Our strong focus on Total economic crisis. How did Faurecia Customer Satisfaction has been deal with this situation, particularly in the fi rst half of the year? key and has enabled us to have It was a truly unprecedented situation, starting a record order intake again in China in January and then spreading to the rest of the world. Almost all countries in 2020. experienced lockdowns of many weeks and in the second quarter of the year production levels globally were down 50%. Our first priority was suppliers was also critical. Our strong focus the health and safety of our employees and on Total Customer Satisfaction during preparing for the safe restart of production. this period has been key and has enabled us Our safety protocol was implemented and to have a record order intake again in 2020. audited regularly across all our sites and was We launched several initiatives with our also shared with suppliers and other industries.
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