FAURECIA HYDROGEN STRATEGY

Mathias Miedreich, EVP Clean Mobility

February 17, 2020 September 2020

September 2020 Agenda

1 FAURECIA INTRODUCTION

2 H2 AUTOMOTIVE MARKET CONTEXT

3 FAURECIA H2 PRODUCT AND BUSINESS ROADMAP

4 WRAP-UP

5 Q&A

2 September 2020 Faurecia: A top ten global automotive technology supplier

€17.8bn 115,500 of sales* employees of 102 nationalities in 37 countries

4 activities > Clean Mobility > Seating 248 > Electronics Plants > Interiors

1 in 3 vehicles in the world equipped 37 with a Faurecia technology R&D centers

A trusted partner Convictions & Values for all automakers, commercial vehicles for sustainable development and high horsepower

*At December 31, 2019

3 September 2020 Faurecia Clean Mobility: World leader in emissions reduction

CLIMATE CHANGE AFFORDABLE MOBILITY URBANIZATION DIGITALIZATION GLOBAL WARMING

MARKET DRIVERS ▪ Stricter CO emission regulation ▪ Low emission zones 2 ▪ Mobility for everyone ▪ Electrification of vehicles ▪ Air quality improvement in cities ▪ Connected cars ▪ Micro mobility rise ▪ Semi-autonomous driving ▪ Lightweight solutions ▪ Zero emission mobility solutions ▪ Growth in emerging markets ▪ Ride sharing ▪ Alternative Energy - Renewables ▪ Stricter local pollution control

ULTRA LOW EMISSIONS ZERO EMISSION - HYDROGEN COMMERCIAL VEHICLES & INDUSTRIAL

▪ CO2 reduction ▪ Hydrogen storage ▪ Large engine ▪ Emissions reduction systems emission reduction ▪ Packaging optimization ▪ Hydrogen fuel-cell ▪ Ultra low NOx

& Noise reduction stack ▪ Fuel cell systems OUR OUR SOLUTIONS

4 September 2020 Fuel Cell Technology: A complement to battery-electric vehicles targeting larger vehicles with strong momentum

FCEV VS. BEV: CO-EXISTENCE DRIVEN BY USE-CASE ◼ Fuel cell more suitable for larger vehicles and applications: SUV, LCV, CV, large off-highway

◼ Superior TCO potential versus BEV 1400km ◼ Increased convenience: longer range, short FCEV Heavy-duty truck refueling time

Medium-duty truck ◼ Major players take position in fuel cell market

>500km ◼ HYUNDAI/ to develop and commercialize FC Electric powertrains

Large / SUV ◼ PSA and to commercialize light cars commercial vehicle Bus ◼ CNH/ IVECO to produce trucks in EU >300km in partnership with Nikola

Maximum Range (Average) Range Maximum ◼ GM to produce pick-up trucks in partnership Medium cars with Nikola Small cars Light commercial ◼ BOSCH licensed Powercell technology vehicles 100km BEV ◼ CUMMINS acquired Hydrogenics ◼ VOLVO and DAIMLER forming JV to produce 1T 2T 6T 12T >12T large scale series of Fuel Cells Gross Vehicle Weight (tons)

5 September 2020 Fuel Cell Technology Costs: Significant drop forecasted all along the value chain through technical optimization and scaling

LIFE Hydrogen Refilling Component and vehicle Vehicle H production H transportation Recycling CYCLE 2 2 Station (HRS) production usage

GREEN H2 COST ROAD MAP AN OPTIMIZED SOLUTION 50% SAVINGS REDUCED BY 60% BY 2030 FOR EACH USE CASE THANKS TO SCALING

90 GW electrolys Cost per kg H2 delivered (base 100) deployed 6.0 120 Significant 1.6 contribution 100 from offshore wind LCOE 80 0.4 REDUCTION -60% 0.2 60 1.3 40 2.6 20

2020 Capex Efficiency Other Energy 2030 0 costs 1 HRS 30 HRS Optimization

6 September 2020 Fuel Cell Technology Costs: Significant drop forecasted all along the value chain through technical optimization and scaling

LIFE Hydrogen Refilling Component and vehicle Vehicle H2 production H2 transportation Recycling CYCLE Station (HRS) production usage

TCO FOR LCV AND TRUCKS

LCV FOR URBAN MDT FOR REGIONAL HDT FOR LONG-HAUL COST BUILD-UP FOR A MEDIUM TRANSPORTATION TRANSPORTATION TRANSPORTATION DUTY FUEL CELL TRUCK IN 2030 USD/ton per km USD/ton per km USD/ton per km 0.22 0.22 0.22 0.20 0.20 0.20 5% Maintenance 0.18 0.18 0.18 FCEV 0.16 0.16 0.16 BEV 0.14 0.14 0.14 Assembly 2% ICE 0.12 0.12 0.12 0.10 0.10 0.10 60% Fuel & infrastructure 0.08 0.08 0.08 0.06 0.06 0.06 0.04 0.04 0.04 Powertrain 13% 0.02 0.02 0.02 0 0 0 20% Non powertrain 2020 2030 2040 2050 2020 2030 2040 2050 2020 2030 2040 2050 Range in tank Range in tank Range in tank 300km 500km 600km

Source: McKinsey for Future Mobility; CARB Advanced clean truck; ICCT

7 September 2020 Faurecia Hydrogen Business Summary: Targeting >20% market share with €3bn sales by 2030

FULL MARKET (€bn) KEY PRODUCT INNOVATIONS Tanks Stacks 40% to 50% of the stack market 19.0 is not addressable Product 10.4 Stacks Designation 3.9 8.6 Tanks 0.9 2.6 1300€/kgH in 2020 900€/kW* in 2020 1.3 Product Price 2 2020 2025 2030 (LV segment) 315€/kgH2 in 2030 50€/kW* in 2030

TARGETED SALES (€bn) TARGETED MARKET SHARE KEY PRIORITIES HSS Stacks 1. Accelerate H cost decrease: 21% 10% 2 carbon fiber, process cost 3.0 2025 2. Secure first wave of business Stacks acquisition: Light Commercial Vehicle 12% in Europe, Commercial Vehicle in China 0.5 21% Tanks 0.0 2030 3. Address unique Commercial Vehicle 2020 2025 2030 stack performance requirement

*Kilowatt Note: all market values and FCM sales data is pre-COVID and assumes baseline electrification scenario 8 September 2020 Faurecia Fuel Cell Solutions: Addressing the full fuel cell system value for all transport applications, directly or through Symbio (JV with )

1. TANK sub-system 2. STACK sub-system Complete H2 Fuel Cell System

Hydrogen Storage System (HSS) Fuel Cell Stack system Auxiliaries

MEA Endplate Interfaces Other Bipolar Electric & Supply H2 tank Valve Membrane + other and controls components plates Electrode laws Electronics unit Assembly components

% of Total 40 % 35 % 25 % Value

Solutions cover all types of on-road applications:

9 September 2020 Main active programs: Most dynamics segments are addressed

with H2 leading OEMs with SOPs in 2021

FUEL CELL STACK PACK HIGH PRESSURE STORAGE SYSTEM

Already 3M km of real on-road vehicles experience on more than 30 fleets

Co-development with German OEM (PC) LV

LCV fleet European OEM

CV

10 September 2020 Product USP: High-performance with aggressive cost roadmaps

FUEL CELL STACK PACK HIGH PRESSURE STORAGE SYSTEM

SYMBIO FAURECIA A FAURECIA_MICHELIN JV

> Best in class power density Stack pack price > Best in class weight ratio Hydrogen storage system price (value 100 in 2020) (value 100 in 2020) • By volume : 4.2kW/l • >7% H2 weight versus 100 vs today’s best 3.1kW/l tank’s weight whereas 100 75 today benchmark at 5.7% 75 • By weight : 2.6kW/kg 50 50 vs today’s best 2.0kW/kg • 25% weight saving 25 25 > Improved stack efficiency 0 > Better reliability due 0 to 55% vs 50% today 2020 2025 2030 to anti-collapse features 2020 2025 2030

11 September 2020 Future Product Developments: Opportunities for more safety, performance

and CO2 efficiency

LESS SMARTER LONGER

H2 STORAGE > Increase weight ratio > Continuously measure > Reuse the tank SYSTEM from 5,7 to 7% gas vs tank the tank’s health with sensors for a second life to optimize the design > Remove the liner > Develop recycled tank and improve safety technologies with > Use bio-based materials thermoplastic resins to produce carbon fiber instead of thermoset

STACK > Increase efficiency > Dual power (FC Stack /Battery) > Reach 7.000 to 20.000 hours SYSTEM between 5 to 10% to optimize vehicle energy stack durability depending management : reduce cost, on the application > Reduce size by 20% optimize durability, > Renew the stack for a second > Reduce Platinum content improve stack efficiency life especially for trucks by > 50% > Recycle platinum

12 September 2020 Wrap-up

>Hydrogen is getting recognized as a necessary technology to decarbonize the economy in general, and transportation in particular

>Faurecia invests heavily to address the full Hydrogen fuel cell system value for passenger and commercial vehicles as well as off-road applications

>Our current focus on fuel cell stacks and hydrogen tanks should generate €3bn in sales in 2030 – several contracts have already been signed with major OEMs

>Further hydrogen products may be targeted as the market develops and new opportunities emerge

13 September 2020 September 2020