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RENAULT GROUP
Goldman Sachs – Annual Global Automotive Conference
DECEMBER 2015 2
INVESTOR RELATIONS
RENAULT PRESENTATION
Information contained within this document may contain forward looking statements. Although
the Company considers that such information and statements are based on reasonable
assumptions taken on the date of this report, due to their nature, they can be risky and uncertain
(as described in the Renault documentation registered within the French financial markets
regulation authorities) and can lead to a difference between the exact figures and those given or
deduced from said information and statements.
Renault does not undertake to provide updates or revisions, should any new statements and
information be available, should any new specific events occur or for any other reason. Renault
makes no representation, declaration or warranty as regards the accuracy, sufficiency,
adequacy, effectiveness and genuineness of any statements and information contained in this
report.
Further information on Renault can be found on Renault’s website (www.group.renault.com),
in the section Finance / Regulated Information.
DISCLAIMER
DECEMBER 2015 3
INVESTOR RELATIONS
RENAULT PRESENTATION
2015 OUTLOOK
The European car market should grow 8% this year, with a French market up
5%. Our main emerging markets should remain adverse and volatile in the
fourth quarter.
Within this context, Renault confirms its guidance:
-increase registrations and Group revenues (at constant exchange rates),
-improve Group operating profit and that of the Automotive division,
-achieve positive Automotive operational free cash flow.
DECEMBER 2015 4
INVESTOR RELATIONS
RENAULT PRESENTATION
KEY TAKE-AWAYS FROM Q3 RESULTS
RECOVERY IN EUROPE GAINS TRACTION
EMERGING MARKETS AND CURRENCIES STILL ADVERSE & VOLATILE
SUCCESS OF OUR NEW PRODUCTS WITH POSITIVE MIX IMPACT
STILL STRONG CONTRIBUTION OF SALES TO PARTNERS
FY GUIDANCE CONFIRMED
DECEMBER 2015 5
INVESTOR RELATIONS
RENAULT PRESENTATION
RISKS & OPPORTUNITIES FOR THE SECOND HALF
REGULATORY COST PRESSURE
EMERGING MARKETS
SUPPLY CHAIN
NEW PRODUCTS
EUROPEAN MARKET MOMENTUM
DECEMBER 2015 6
INVESTOR RELATIONS
RENAULT PRESENTATION
YTD 2015 COMMERCIAL UPDATE
01
DECEMBER 2015 7
INVESTOR RELATIONS
RENAULT PRESENTATION
613
318
88 75
102
30
621
339
87 72 97
27
Q3'14 Q3'15 Q3'14 Q3'15 Q3'14 Q3'15 Q3'14 Q3'15 Q3'14 Q3'15 Q3'14 Q3'15
RENAULT GROUP UNIT REGISTRATIONS Q3 2015 VS Q3 2014
GLOBAL
+1.2%
EUROPE
+6.5%
AMERICAS
-5.3%
ASIA-PACIFIC
-11.2%
AFRICA-ME-INDIA
-4.8%
EURASIA
-1.2%
K units
(PC+LCV)
WORLD MARKET SHARE: 3.01% (+0.04 pts)
-0.2%TIV +9.8% -13.9% -6.6% -12.5% -2.3%
GROUP
DECEMBER 2015 8
INVESTOR RELATIONS
RENAULT PRESENTATION
1,979
1,094
265 225
308
87
1,998
1,188
246 223 261
80
09'14 09'15 09'14 09'15 09'14 09'15 09'14 09'15 09'14 09'15 09'14 09'15
RENAULT GROUP UNIT REGISTRATIONS SEPT 2015 (YTD) VS SEPT 2014 (YTD)
GLOBAL
+0.9%
EUROPE
+8.5%
AMERICAS
-15.3%
ASIA-PACIFIC
-7.5%
AFRICA-ME-INDIA
-1.0%
EURASIA
-7.2%
K units
(PC+LCV) WORLD MARKET SHARE: 3.12% (=)
+0.7%TIV +9.0% -18.4% -0.6% -11.1% -0.5%
GROUP
DECEMBER 2015 9
INVESTOR RELATIONS
RENAULT PRESENTATION
FRANCE01
BRAZIL02
03
ITALY
TURKEY04
SOUTH KOREA
05
06
07
08
09
SPAIN
10
24.4%
4.7%
7.4%
17.1%
GERMANY
8.1%
12.9%
ARGENTINA 14.6%
4.5%
RUSSIA 7.4%
M/S
(PC+LCV)
EUROPE KEEPS PUSHING SALES MOMENTUM – Q3 2015
-1.4 pts
+0.5 pts
+2.6 pts
-1.0 pts
VS.
Q3 2014
UK 4.3%
+1.1 pts
-0.2 pts
-0.5 pts
+0.3 pts
-1.0 pts
+0.2 pts
REGIONAL SALES BREAKDOWN
36% 42%
48%
55% 52%
48%
Q3 2010 Q3 2011 Q3 2012 Q3 2013 Q3 2014 Q3 2015
42% 48% 52% 48% 45%55%
58% 52% 45% 48% 52% 55%
INTERNATIONALEUROPE
DECEMBER 2015 10
INVESTOR RELATIONS
RENAULT PRESENTATION
EUROPE REGION – GROUP ORDER BOOK PC+LCV
sept.-07 sept.-08 sept.-09 sept.-10 sept.-11 sept.-12 sept.-13 sept.-14 sept.-15
DECEMBER 2015 11
INVESTOR RELATIONS
RENAULT PRESENTATION
Q3 2015 REVENUES
02
DECEMBER 2015 12
INVESTOR RELATIONS
RENAULT PRESENTATION
RENAULT GROUP REVENUES BY DIVISION IN Q3 2015
In million euros Q3 2015 Change (%)Q3 2014
Automotive
Sales Financing
TOTAL
8,802
534
9,336
+10.2%
-2.2%
+9.4%
7,984
546
8,530
DECEMBER 2015 13
INVESTOR RELATIONS
RENAULT PRESENTATION
RENAULT GROUP REVENUES BY DIVISION 2015 9 months
In million euros
2015
YTD
Change
(%)
2014
YTD
Automotive
Sales Financing
TOTAL
29,867
1,666
31,533
+11.8%
+2.4%
+11.2%
26,723
1,627
28,350
DECEMBER 2015 14
INVESTOR RELATIONS
RENAULT PRESENTATION
AUTOMOTIVE REVENUE VARIANCE ANALYSIS
7,984
8,802
-173
+45 -45
+184
+178
+413
+216
Currency
Volume
Geographic
mix
Product
mix
Price
Sales to
partners Others
+10.2%
-2.2 pts+0.6 pts -0.6 pts +2.3 pts +2.3 pts +5.2 pts +2.6 pts
In million euros CHANGE Q3 2015 / Q3 2014 : +€818m
Q3 2014 Q3 2015
DECEMBER 2015 15
INVESTOR RELATIONS
RENAULT PRESENTATION
AUTOMOTIVE REVENUE VARIANCE ANALYSIS
26,723
29,867
+52
+660 -91
+329
+486
+1,525
+183
Currency
Volume
Geographic
mix
Product
mix
Price
Sales to
partners
Others
+11.8%
+0.2 pts+2.5 pts -0.3 pts +1.2 pts +1.8 pts +5.7 pts +0.7 pts
In million euros CHANGE 2015 / 2014 : +€3,144m
Q3 2014
YTD
Q3 2015
YTD
DECEMBER 2015 16
INVESTOR RELATIONS
RENAULT PRESENTATION
DISTRIBUTION STOCK
NEW VEHICLE DISTRIBUTION STOCK (IN K UNITS)
503 488 527 495 493 459 515 510 503
243
100
255
158
253
106
251
177
260260
388
272
337
240
353
264
333
243
SEP'13 DEC'13 MAR'14 JUN'14 SEP'14 DEC'14 MAR'15 JUN'15 SEP'15
GROUP
INDEPENDENT
DEALERS
TOTAL
Number of days of sales
(previous period)
75 7663 62 74 57 74 64 75
DECEMBER 2015 17
INVESTOR RELATIONS
RENAULT PRESENTATION
RCI BANQUE PERFORMANCE
Q3 2015 Change (%)Q3 2014
Revenues
(in € m)
Average loans
outstanding
(in € bn)
New contracts
(in thousand units)
New financing
(in € bn)
534
28.8
348
3.8
546
25.6
302
3.2
-2.2%
+12.8%
+15.2%
+21.9%
DECEMBER 2015 18
INVESTOR RELATIONS
RENAULT PRESENTATION
RCI BANQUE PERFORMANCE YTD
Q3 2015
YTD
Change
(%)
Q3 2014
YTD
Revenues
(in € m)
Average loans
outstanding
(in € bn)
New contracts
(in thousand units)
New financing
(in € bn)
1,666
27.9
1,034
11.6
1,627
25.1
902
9.2
+2.4%
+10.9%
+14.7%
+26.7%
DECEMBER 2015 19
INVESTOR RELATIONS
RENAULT PRESENTATION
H1 2015 FINANCIAL RESULTS
03
DECEMBER 2015 20
INVESTOR RELATIONS
RENAULT PRESENTATION
H1 2014 H1 2015 CHANGE
Global registrations (units) 1,365,988 1,376,356 +0.8%
Group revenues 19,820 22,197 +12.0%
of which: Automotive 18,739 21,065 +12.4%
Sales financing 1,081 1,132 +4.7%
Q1 Q2
+13.7% +10.8%
H1 2015 GROUP REVENUES
(million euros)
DECEMBER 2015 21
INVESTOR RELATIONS
RENAULT PRESENTATION
AUTOMOTIVE REVENUES VARIANCE ANALYSIS
18,739
21,065
+615 -46
+145
+308
+1,112
+225
-33
Currency
Volume
Geographic
mix
Product mix
Sales to
partners
Others
+12.4%
+3.3pts -0.2pts +0.8pts +1.6pts +1.2pts -0.2pts
Price
+5.9pts
CHANGE H1 2015 / H1 2014: +€2,326m
H1 2014 H1 2015
(million euros)
DECEMBER 2015 22
INVESTOR RELATIONS
RENAULT PRESENTATION
729
1,069
+236 -17
+28
-283 +263
+1
+112
GROUP OPERATING MARGIN VARIANCE ANALYSIS
Currency
Volume &
partners
Mix / Net
Enrichment
G&A
RCI &
Other
activities
COST REDUCTION
+€219m
H1 2014 H1 2015
(million euros)
CHANGE H1 2015 / H1 2014: +€340m
Monozukuri
Raw
materials
GROWTH
+€264m
DECEMBER 2015 23
INVESTOR RELATIONS
RENAULT PRESENTATION
DISTRIBUTION STOCK
NEW VEHICLE DISTRIBUTION STOCK (IN K UNITS)
445 481 507 503 488 527 495 493 459 515 510
131
241
140
243
100
255
158
253
106
251
177
314
240
367
260
388
272
337
240
353
264
333
DEC'12 MAR'13 JUN'13 SEP'13 DEC'13 MAR'14 JUN'14 SEP'14 DEC'14 MAR'15 JUN'15
GROUP
INDEPENDENT
DEALERS
TOTAL
Number of days of sales
(previous period)
65 6772 75 7663 62 74 57 74 64
DECEMBER 2015 24
INVESTOR RELATIONS
RENAULT PRESENTATION
-369
+267
-591
-118
AUTOMOTIVE NET CASH POSITION
Operational
free
cash flow
Cash flow
+1,727
Change
in WCR
Dividends
paid
Net tangible
& intangible
investments
- 1,453 Net cash
decrease
Dividends
received
from
listed co.
-123
Leased
Vehicles
-431
Capitalized
R&D
Financial
investments
& others
-899
Net capex
DEC. 31, 2014: €2,104m
JUNE 30, 2015: €1,567m
-95
-537
(million euros)
DECEMBER 2015 25
INVESTOR RELATIONS
RENAULT PRESENTATION
H1 2014 H1 2015 CHANGE
Revenues 19,820 22,197 +12.0%
Operating margin +729 +1,069 +340
in % of revenues +3.7% +4.8% +1.1 pts
Other operating income & expenses -265 -116 +149
EBIT +464 +953 +489
Net financial income & expenses -124 -161 -37
Associated companies +725 +912 +187
Current & deferred taxes -264 -235 +29
Net income +801 +1,469 +668
(million euros)
H1 2015 FINANCIAL RESULTS
DECEMBER 2015 26
INVESTOR RELATIONS
RENAULT PRESENTATION
OPERATING MARGIN BY ACTIVITY
H1 2014 H1 2015 CHANGE
AUTOMOTIVE +348 +656 +308
% Automotive revenues +1.9% +3.1% +1.3 pts
SALES FINANCING +381 +413 +32
GROUP OPERATING MARGIN +729 +1,069 +340
% Group revenues +3.7% +4.8% +1.1 pts
(million euros)
DECEMBER 2015 27
INVESTOR RELATIONS
RENAULT PRESENTATION
RCI BANQUE
in % of average loans outstanding
H1 2014 H1 2015
New financings (€bn) 6.0 7.7
Average performing loans outstanding (€bn) 24.8 27.6
Net banking income* 5.14% 4.93%
Cost of risk* (customer & dealer) -0.47% -0.31%
Operating expenses* -1.58% -1.54%
Pretax income* 2.92% 3.08%
(* in percentage of average performing loans outstanding)
DECEMBER 2015 28
INVESTOR RELATIONS
RENAULT PRESENTATION
OTHER OPERATING INCOME & EXPENSES
H1 2014 H1 2015
Net restructuring costs
(incl. competitiveness agreement in France)
-152 -106
Impairment of assets / reversal -135 -11
Profit / loss on asset sales +30 +6
Others -8 -5
TOTAL OTHER OPERATING INCOME & EXPENSES -265 -116
(million euros)
DECEMBER 2015 29
INVESTOR RELATIONS
RENAULT PRESENTATION
ASSOCIATED COMPANIES
H1 2014 H1 2015 CHANGE
Nissan +789 +979 +190
AVTOVAZ (1)
-55 -70 -15
Others -9 +3 +12
TOTAL ASSOCIATED COMPANIES +725 +912 +187
(1) AVTOVAZ is consolidated with a 3-month time lag
Q1 Q2
494 485
(million euros)
DECEMBER 2015 30
INVESTOR RELATIONS
RENAULT PRESENTATION
LIQUIDITY RESERVES
Cash = €11.6bn
Available credit lines = €3.2bn
TOTAL = €14.8bn
LIQUIDITY RESERVES
Cash = €10.2bn
Available credit lines = € 3.3bn
TOTAL = €13.5bn
AUTOMOTIVE DIVISION LIQUIDITY
DECEMBER 2014 JUNE 2015
DECEMBER 2015 31
INVESTOR RELATIONS
RENAULT PRESENTATION
RCI LIQUIDITY*
LIQUIDITY RESERVES
Cash = €0.1bn
HQLA = €0.9bn
ECB eligible = €1.9bn
Available credit lines = €4.0bn
TOTAL = €6.9bn
LIQUIDITY RESERVES
Cash = €0.1bn
HQLA = €0.8bn
ECB eligible = €1.8bn
Available credit lines = €4.1bn
TOTAL = €6.8bn
DECEMBER 2014 JUNE 2015
*Central funding perimeter
DECEMBER 2015 32
INVESTOR RELATIONS
RENAULT PRESENTATION
RCI BANQUE RETAIL DEPOSIT ACTIVITY
Dec. 2014 June 2015
DEPOSITS 6.5 7.0
o/w GERMANY 4.4 5.1
o/w FRANCE 1.8 1.4
o/w AUSTRIA 0.4 0.5
o/w UNITED KINGDOM N/A 0.04
• 2016 TARGET: 30% OF RCI BANQUE OUTSTANDINGS
(billion euros)
DECEMBER 2015 33
INVESTOR RELATIONS
RENAULT PRESENTATION
DRIVE THE CHANGE
How to get to our targets
03
DECEMBER 2015 34
INVESTOR RELATIONS
RENAULT PRESENTATION
Kadjar
2015
RENEWING OUR RANGE
OUR MAIN REVENUES OPPORTUNITIES
New Espace C-hatchD-sedan C-MPV
Pick-up 1TPick-up 0,5T
D-crossoverCaptur
2015
2015
2015
2015
New Twingo
A-entry
2014
2014
LCV international roll out
Full cross-over line up
for all our markets
A-entry vehicles for emerging countries
New Twingo for Europe
C & D complete renewal
DECEMBER 2015 35
INVESTOR RELATIONS
RENAULT PRESENTATION
A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS
RENAULT ESPACE
DECEMBER 2015 36
INVESTOR RELATIONS
RENAULT PRESENTATION
A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS
RENAULT KADJAR
KADJAR
DECEMBER 2015 37
INVESTOR RELATIONS
RENAULT PRESENTATION
A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS
RENAULT KWID
KADJAR
DECEMBER 2015 38
INVESTOR RELATIONS
RENAULT PRESENTATION
A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS
RENAULT OROCH
DECEMBER 2015 39
INVESTOR RELATIONS
RENAULT PRESENTATION
A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS
RENAULT TALISMAN
KADJAR
DECEMBER 2015 40
INVESTOR RELATIONS
RENAULT PRESENTATION
A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS
RENAULT TALISMAN ESTATE
DECEMBER 2015 41
INVESTOR RELATIONS
RENAULT PRESENTATION
A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS
RENAULT ALASKAN REVEAL
DECEMBER 2015 42
INVESTOR RELATIONS
RENAULT PRESENTATION
A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS
RENAULT MEGANE REVEAL
DECEMBER 2015 43
INVESTOR RELATIONS
RENAULT PRESENTATION
65%33%
Millions units per platforms > 2016
CMFC-D
CMFB
Source : VAG,Hyundai,Toyota : IHS / R&N : Alliance plan
2013 > 2016
SHARED PLATFORMS MODULAR APPROACH
80% of future launches
2/3 of value of upcoming vehicles
from standardized modules
0
1
2
3
4
5
CMFC-D
CMFB
DEVELOPING OUR SCALE AND COMPETITIVENESS
DECEMBER 2015 44
INVESTOR RELATIONS
RENAULT PRESENTATION
SOURCING OPTIMIZATION INDUSTRIAL CAPACITIES
Local integration rate*
> 80 % in 4 major countries
Utilization rate in Europe > 100%
2011 > 2016
Renault for Renault
Renault for Partners
Renault capacity (2 shifts/day)
Alliance for Renault
>2016
2013
2010
China
Russia
India
Brazil
(*) including powertrain group
Production
5%
17%
REDUCING COST OF VEHICULES
DECEMBER 2015 45
INVESTOR RELATIONS
RENAULT PRESENTATION
2009 2010 2011 2012 2013 2014 2016e
Renault Nissan
> €4.3bn
ALLIANCE SYNERGIES
€3.8bn*
(*) estimated
ACCELERATING ALLIANCE SYNERGIES
4 KEY-FUNCTIONS CONVERGENCE
PURCHASING
UPSTREAM
ENGINEERING
HUMAN
RESOURCES
MANUFACTURING
& LOGISTICS
DECEMBER 2015 46
INVESTOR RELATIONS
RENAULT PRESENTATION
CAPEX AND R&D CAPPED at 9%
2008 2009 2010 2011 2012 2013 2014
2015
H1
2015-
2016e
NET CAPEX 5.6 % 4.4 % 2.5 % 3.1% 4.3 % 3.8 % 3.4% 3.6%
NET R&D 5.5 % 4.5 % 4.0 % 3.8% 3.8 % 3.7 % 4.0% 4.4%
TOTAL 11.1 % 8.9 % 6.5 % 7.0% 8.1% 7.5% 7.4% 8.0% < 9%
% OF GROUP REVENUES
ALLIANCE BENEFITS TO RENAULT: R&D AND CAPEX
INVESTOR RELATIONS
RENAULT PRESENTATION DECEMBER 2015 47
A LEADER IN CO2 EMISSION REDUCTION
DECEMBER 2015 48
INVESTOR RELATIONS
RENAULT PRESENTATION
PREPARING FOR THE FUTURE
EOLAB
DECEMBER 2015 49
INVESTOR RELATIONS
RENAULT PRESENTATION
OPERATING MARGIN IMPROVEMENT
3.0 %
> 5 %
VolumeCost
reduction
Enrichment
Net
Raw
material
Provision
FOREX
FY2013 > FY2016
DECEMBER 2015 50
INVESTOR RELATIONS
RENAULT PRESENTATION
2015 H1: A ROBUST MILESTONE FOR OUR MID-TERM PLAN
MARGIN IMPROVEMENT
1,9%
3,0%
3,9%
4,8%
0,1%
1,3%
2,2%
3,1%
2012 restated 2013 2014 2015 H1
GROUP OPERATING MARGIN
AUTOMOTIVE OPERATING MARGIN
> 5%
in 2017*
* target
INVESTOR RELATIONS
RENAULT PRESENTATION DECEMBER 2015 51
DIVIDEND POLICY
0,00
0,30
1,16
1,72 1,72
1,90
2009 2010 2011 2012 2013 2014
DIVIDENDS PAID IN € PER SHARES
First phase of the plan, dividend paid
based on dividends received from
shareholdings in listed companies, with
a one-year time lag.
The purpose of that policy was to raise
the profile of the dividend while
achieving the debt reduction target.
For the second phase of the plan, pay-
out policy independent of the dividends
received on holdings in listed
companies.
Aim of this policy : offer returns at
least equivalent to the average of
European automakers.
The dividend will be paid on May 15 (or
the following working day).
DECEMBER 2015 52
INVESTOR RELATIONS
RENAULT PRESENTATION
NEW FRONTIERS: CHINA
2013 2014 2015 2016 2017 2018 2019
Industrial projectSignature New plant 150,000 veh./year
C crossover
D crossover
Vehicle in study
WITH OUR PARTNERS
2nd step
DECEMBER 2015 53
INVESTOR RELATIONS
RENAULT PRESENTATION
PREPARING FOR THE FUTURE
WUHAN PLANT
DECEMBER 2015 54
INVESTOR RELATIONS
RENAULT PRESENTATION
FY 2014 FINANCIAL RESULTS
03
DECEMBER 2015 55
INVESTOR RELATIONS
RENAULT PRESENTATION
AUTOMOTIVE REVENUES VARIANCE ANALYSIS
38,775 38,874
-1,150
-327 +64
-33
+311
+1,248
-14
Currency
Volume
Geographic
mix
Mix
Sales to
partners
Others
+0.3%
-3.0pts -0.8pts +0.2pts -0.1pts +3.2pts 0.0pts
Price
+0.8pts
CHANGE 2014 vs 2013: +€99m
FY 2013 FY 2014
(million euros)
DECEMBER 2015 56
INVESTOR RELATIONS
RENAULT PRESENTATION
OPERATING PROFIT BY ACTIVITY
FY 2013 FY 2014 CHANGE
AUTOMOTIVE 495 858 +363
% Automotive revenues 1.3% 2.2% +0.9pts
SALES FINANCING 747 751 +4
GROUP OPERATING PROFIT 1,242 1,609 +367
% Group revenues 3.0% 3.9% +0.9pts
(million euros)
DECEMBER 2015 57
INVESTOR RELATIONS
RENAULT PRESENTATION
1,242
1,609
+778
+66
+134
-226
+121
-35
-471
GROUP OPERATING PROFIT VARIANCE ANALYSIS
Currency
Volume &
partners
Mix / Net
Enrichment
G&A
RCI Banque
&
other activities
COST REDUCTION
€844m
FY 2013 FY 2014
CHANGE 2014 vs 2013: +€367m
Monozukuri
Raw
materials
GROWTH
€86m
(million euros)
DECEMBER 2015 58
INVESTOR RELATIONS
RENAULT PRESENTATION
CONTINUING COST REDUCTION
COST REDUCTION CONTRIBUTION TO OPERATING PROFIT IMPROVEMENT
+ 430
-107
+ 397
+ 58
+ 66
Purchasing Warranty Manufacturing
& Logistic
R&D G&A
+€844m
vs 2013
DECEMBER 2015 59
INVESTOR RELATIONS
RENAULT PRESENTATION
OTHER OPERATING INCOME & EXPENSES
FY 2013 FY 2014
Net restructuring costs
(incl. competitiveness agreement in France)
-423 -305
Impairment of assets / reversal -488 -153
RCI Banque (mainly change in regulation) - -50
Profit / loss on asset sales +153 +7
Others -518 -3
Total other operating income & expenses -1,276 -504
(million euros)
DECEMBER 2015 60
INVESTOR RELATIONS
RENAULT PRESENTATION
ASSOCIATED COMPANIES
FY 2013 FY 2014 CHANGE
Nissan 1,498 1,559 +61
AVTOVAZ (1)
-34 -182 -148
Others -20 -15 +5
Total associated companies 1,444 1,362 -82
(1) AVTOVAZ is consolidated with a 3-month time lag . Adjustments have been made to take into account significant
transactions and accounting entries that occurred between September 30, 2014 and December 31, 2014.
(million euros)
DECEMBER 2015 61
INVESTOR RELATIONS
RENAULT PRESENTATION
FY 2014 FINANCIAL RESULTS
FY 2013 FY 2014 CHANGE
Revenues 40,932 41,055 +0.3%
Operating profit 1,242 1,609 +367
in % of revenues 3.0% 3.9% +0.9pts
Other operating income & expenses -1,276 -504 +772
EBIT -34 1,105 +1,139
Net financial income & expenses -282 -333 -51
Associated companies 1,444 1,362 -82
Current & deferred taxes -433 -136 +297
Net income 695 1,998 +1,303
(million euros)
DECEMBER 2015 62
INVESTOR RELATIONS
RENAULT PRESENTATION
3,138
1,083
343
+596
+463 -542
-661
AUTOMOTIVE NET CASH POSITION
Operational
free
cash flow
Cash flow
Change
in WCR
Dividends
paid
Net tangible
& intangible
investments
-2,651
Net change
In cash
Dividends
received
from
listed co.
Capitalized
R&D
-845 Financial
investments
& others
Net capex
-1,571
DEC 31, 2013 : €1,761m
DEC 31, 2014 : €2,104m
(million euros)
Leased
Vehicles -235
DECEMBER 2015 63
INVESTOR RELATIONS
RENAULT PRESENTATION
LIQUIDITY RESERVES
Cash = €10.7bn
Available credit lines = €3.4bn
TOTAL = €14.1bn
LIQUIDITY RESERVES
Cash = €11.6bn
Available credit lines = €3.2bn
TOTAL = €14.8bn
AUTOMOTIVE DIVISION LIQUIDITY
DECEMBER 2013 DECEMBER 2014
DECEMBER 2015 64
INVESTOR RELATIONS
RENAULT PRESENTATION
FUNDING & LIQUIDITY PROFILE
RSA total funding : 7.6 billions €
In million euros at December 31, 2014
Bonds, Banks & assimilated
(in millions euros *)
Liquidity reserve:
- Available back-up lines : 3.2 billions €
- Cash & cash equivalents: 11.6 billions €
Automobile Division
* fx rates as of 12/31/14
DECEMBER 2015 65
INVESTOR RELATIONS
RENAULT PRESENTATION
RCI BANQUE
(in percentage of average loans outstanding)
2013 2014
New financings (€bn) 11.4 12.6
Average loans outstanding (€bn) 24.2 25.4
Net banking income* 5.04% 4.98%
Cost of risk (customer & dealer) -0.42% -0.43%
Operating expenses* -1.56% -1.58%
Pretax income* 3.07% 2.95%
Operating profit (€m) 747 751
* Excluding non recurring items
DECEMBER 2015 66
INVESTOR RELATIONS
RENAULT PRESENTATION
End 2013 End 2014
DEPOSITS 4,33 6,53
o/w GERMANY 3,05 4,38
o/w FRANCE 1,28 1,78
o/w AUSTRIA - 0,37
RCI BANQUE RETAIL DEPOSIT ACTIVITY
• 2016 TARGET: 30% OF RCI BANQUE OUTSTANDINGS
(billion euros)
DECEMBER 2015 67
INVESTOR RELATIONS
RENAULT PRESENTATION
04RENAULT IN BRIEF
INVESTOR RELATIONS
RENAULT PRESENTATION DECEMBER 2015 68
RENAULT – IN BRIEF
Renault was founded in 1898 and is listed on the
Paris NYSE Euronext since 1995
Renault created an Alliance with Nissan in 1999
Renault has strategic cooperation with Daimler
Market capitalization of €17.9bn as of Dec 2014
(€21.9bn as of Aug 2015)
Renault employs 117,395 employees worldwide
2,712,432 vehicles sold worldwide in 2014
The Renault brand is ranked # 3 in Europe
The company is a bond issuer via two entities:
Renault, rated BBB- by S&P (stable outlook)/BBB-
(stable outlook) by Fitch / Ba1 (positive outlook)
by Moody’s
RCI Banque, its financing arm, rated Baa1 (stable
outlook) by Moody’s / BBB (negative outlook) by
S&P
OWNERSHIP OF CAPITAL AT END 2014
Treasury stock2
0.86%
Employees
2,97%
Nissan1
15.00%
French State
15.01%
Public
63.05%
1 Nissan does not exercise the voting rights attached to these shares
2 Shares acquired for the purposes of stock option programs. These shares have
no voting rights attached
3 A strategic cooperation between the Renault-Nissan Alliance and Daimler AG was
announced in April 2010;
Total share capital €1,127mm
Total number of shares 295,722,284
Daimler3
3.10%
Source: Renault SA
INVESTOR RELATIONS
RENAULT PRESENTATION DECEMBER 2015 69
GROUP STRUCTURE
RCI
BANQUE
RENAULT
SAMSUNG
MOTORS
AvtoVAZ
OTHER COMPANIES
industrial, commercial,
refinancing
and cash management concerns
RENAULT S.A.S.
DACIA
NISSAN MOTOR
RENAULT SA
100 %
43.4 %
99.4 %
1.55 %
100 % 80.1 %37,25%
DAIMLER AG
Renault Group
Alliance and Cooperation
INVESTOR RELATIONS
RENAULT PRESENTATION DECEMBER 2015 70
A MAJOR ALLIANCE IN THE AUTOMOTIVE LANDSCAPE
52 52
54
56 56 56 57
61
63
65
68
65
63
71
75
79
82
85
51
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
10,1 9,9 9,9
8,5
7,7
6,3
5,3
4,6 4,4
2,9 2,7
0,0
1,0
2,0
3,0
4,0
5,0
6,0
7,0
8,0
9,0
10,0
11,0
TOYOTA
VW-Porsche
GM-Wulinng
ALLIANCE
HYUNDAI
FORD
NISSAN
FIAT-CHYSLER
HONDA
PSA
RENAULT
Renault
Nissan
Avotvaz
8,470 million units sold in 2014
TIV (PC+LCV) IN MILLION UNITS
MAIN CARS SALES IN 2014 (PC+LCV) IN MILLION UNITS
448
5%
5 310
63%
2 712
32%
INVESTOR RELATIONS
RENAULT PRESENTATION DECEMBER 2015 71
62%12%
11%
11%
4%
Sales by Region
Europe
Americas
Africa - ME
-India
Eurasia
Asia-Pacific
RENAULT SALES IN H1 2015
76%
21%
3%
Sales by brand
Renault
Dacia
RSM
4%
27%
40%
14%
3%
12%
Sales by segment
A B
MO C
D/E LCV
MAIN CARS SALES IN H1 2015 (PC+LCV) IN KUNITS
237
171 168 147 145 128
76 54 47
0
100
200
300
400
500
CLIO-Bseg
SANDERO-MO
DUSTER-MO
MEGANE/SCENIC-C
SEG
LOGAN-MO
CAPTUR-BSEG
KANGOO-LCV
TWINGO-ASEG
MASTER-LCV
INVESTOR RELATIONS
RENAULT PRESENTATION DECEMBER 2015 72
HEADCOUNT EVOLUTION
74 73 71 70 70 68 63 60 55 54 55 50 49 46
26
24 24
22 20 20
18 17 20
35
31 31 28 33 35 43 45
44 49 53
56 56 51
28 24
23 26 24
0
20
40
60
80
100
120
140
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
France EUROPE Outside Europe
129 130 129
121 123
128
Headcount excluding early retirement schemes
137
128 125 127 127
117
124 122
INVESTOR RELATIONS
RENAULT PRESENTATION DECEMBER 2015 73
INTERNATIONAL SALES EXPANSION
11%
17% 17% 17%
19%
23%
27%
30%
35%
37%
34%
37%
43%
50% 50%
46%
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
% OF UNIT SALES OUTSIDE EUROPE
INVESTOR RELATIONS
RENAULT PRESENTATION DECEMBER 2015 74
ENTRY PROGRAM SALES EVOLUTION –OVER 1M UNITS IN 2014
23
145
248
367
510 535
687
814
954
1 084
1 142
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
IN K UNITS
INVESTOR RELATIONS
RENAULT PRESENTATION DECEMBER 2015 75
M0 PLATFORM : THE RIGHT TOOL FOR INTERNATIONAL EXPANSION
% OF INTERNATIONAL SALES UPON M0 PLATFORM
63%
37%
MO Others
INVESTOR RELATIONS
RENAULT PRESENTATION DECEMBER 2015 76
ENTRY PROGRAM RECIPE FOR SUCCESS
Two different business models:
Dacia Brand in Europe and Euromed
(45% of the sales)
Renault Brand for International
development (55% of the sales)
The “right” level of vehicle content
Adjusted for the different markets
High carry-over to minimize
investment
Seven bodies on the same platform
Localization
NEW LOGAN
DUSTER
INVESTOR RELATIONS
RENAULT PRESENTATION DECEMBER 2015 77
RENAULT RANGE
INVESTOR RELATIONS
RENAULT PRESENTATION DECEMBER 2015 78
RENAULT RANGE
INVESTOR RELATIONS
RENAULT PRESENTATION DECEMBER 2015 79
DACIA & RSM RANGE
INVESTOR RELATIONS
RENAULT PRESENTATION DECEMBER 2015 80
P&L STATEMENT SINCE 2000
* with Renault VI
PUBLISHED
2000* 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
in K units
Registration 2 289 2 409 2 404 2 389 2 489 2 533 2 433 2 484 2 382 2 309 2 626 2 722 2 550 2 628 2 712
production 2 348 2 375 2 344 2 385 2 472 2 516 2 385 2 659 2 421 2 199 2 599 2 637 2 725 2 520 2 574
in€ m
Revenues 40 175 36 351 36 336 37 525 40 715 41 338 41 528 40 682 37 791 33 712 38 971 42 628 41 270 40 932 41 055
o/w Automotive 31 486 33 841 34 456 35 535 38 645 39 458 39 605 38 679 35 757 31 951 37 172 40 679 39 156 38 775 38 874
o/w sales financing 1 656 1 828 1 880 1 990 2 070 1 880 1 923 2 003 2 034 1 761 1 799 1 949 2 114 2 157 2 181
Cost of goods and services sold -30 214 -28 240 -28 178 -29 273 -31 162 -32 137 -32 499 -31 408 -29 659 -26 978 -30 620 -33 848 -33 017 -33 611 -33 310
o/w Research and development expenses -2 048 -1 935 -1 143 -1 243 -1 383 -2 034 -1 963 -1 850 -1 858 -1 795 -1 834 -2 017 -1 915 -1 812 -1 721
o/w SG&A -4 838 -4 538 -4 363 -4 452 -4 581 -4 918 -5 018 -4 949 -4 770 -4 382 -4 605 -4 751 -4 534 -4 267 -4 415
Operating margin 2 022 473 1 483 1 402 2 418 1 323 1 063 1 354 212 -396 1 099 1 091 729 1 242 1 609
o/w Automotive 1 574 216 1 189 1 035 1 974 858 571 882 -275 -902 396 330 -25 495 858
o/w sales financing 253 252 294 367 444 465 492 472 487 506 703 761 754 747 751
Other operating income and expenses -319 231 -266 -168 -270 191 -186 -116 -329 -559 -464 153 -607 -1 276 -504
Operating income 1 703 704 1 217 1 234 2 148 1 514 877 1 238 -117 -955 635 1 244 122 -34 1 105
Financial expense -69 -64 -91 -71 -348 -327 61 76 441 -404 -376 -121 -266 -282 -333
Capital gain on sale of shares in Volvo AB 2 000 924
Share in net income of companies
accounted for by the equity method
89 380 1 331 1 860 2 020 2 597 2 260 1 675 437 -1 561 1 289 1 524 1 504 1 444 1 362
o/w Nissan 56 497 1 335 1 705 1 767 2 275 1 871 1 288 345 -902 1 084 1 332 1 234 1 498 1 559
o/w Volvo -26 71 175 240 308 384 352 226 -301 214 136 80
o/w AvtoVAZ -370 -21 49 186 -34 -182
Current and deferred taxes -649 -67 -447 -510 -634 -331 -255 -255 -162 -148 -58 -508 -549 -433 -136
Group net income 1 074 953 2 010 2 513 3 186 3 453 2 943 2 734 599 -3 068 3 490 2 139 1 735 695 1 998
Renault net income 1 080 1 051 1 956 2 480 3 119 3 367 2 869 2 669 571 -3 125 3 420 2 092 1 772 586 1 890
EPS 4,5 4,4 7,5 9,3 11,7 13,2 11,2 10,3 2,2 -12,1 12,7 7,7 6,5 2,2 6,9
Number of shares 239 798 239 998 259 560 265 960 265 960 255 177 256 994 258 621 256 532 257 514 269 292 272 381 272 256 272 290 273 049
workforce 166 114 140 417 132 351 130 740 130 573 126 584 128 893 130 179 129 069 121 422 122 615 128 322 127 086 121 807 117 395
BEFORE IFRS IFRS
INVESTOR RELATIONS
RENAULT PRESENTATION DECEMBER 2015 81
CASH FLOW STATEMENT
PUBLISHED
IFRS
in € m 2000* 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
AUTO EBIT 1 467 458 928 858 1 710 1 058 303 767 -608 -1 457 -78 478 -615 -770 389
Depreciation & amortization 1 817 1 683 1 938 2 117 2 133 2 658 2 817 2 815 2 892 3 124 3 045 2 820 3 299 3 164 2 702
AUTOMOTIVE EBITDA 3 284 2 141 2 866 2 975 3 843 3 716 3 120 3 582 2 284 1 667 2 967 3 298 2 684 2 394 3 091
Cash flow 3 027 1 290 2 919 2 806 3 798 3 589 3 288 3 616 2 373 1 386 3 074 2 910 2 577 2 914 3 138
Change in WC -1 657 1 751 322 239 401 -533 -346 -26 -2 704 2 923 395 627 922 790 596
Capex and R&D cost -2 289 -2 546 -2 968 -2 533 -2 823 -2 879 -3 585 -3 565 -3 385 -2 054 -1 644 -2 212 -2 674 -2 543 -2 416
CAPEX -2 253 -2 497 -2 284 -1 927 -2 035 -2 046 -2 494 -2 278 -2 260 -1 465 -978 -1 325 -1 910 -1 811 -1 571
CAPITALIZED R&D -36 -49 -684 -606 -788 -833 -1 091 -1 287 -1 125 -589 -666 -887 -764 -732 -845
Others 135 -248 -155 -241 -228 -334 -235
OPERATIONAL FCF -919 495 273 512 1 376 177 -508 25 -3 716 2 007 1 670 1 084 597 827 1 083
Dividends received from Nissan 99 183 267 345 383 431 456 418 0 88 274 427 406 432
Dividends received from Volvo 0 77 77 208 120 158 477 258 81 0 38 47
Dividends received from Daimler 22 27 27 32
Dividends received from others excl; RCI 7 6 13 13 3 12 0 0 1 6
FCF -912 600 533 856 1 929 693 94 961 -3 028 2 088 1 758 1 419 1 077 1 260 1 547
DIVIDEND PAID 183 219 258 316 383 493 684 883 1 054 0 0 88 -402 -537 -542
BEFORE IFRS
INVESTOR RELATIONS
RENAULT PRESENTATION DECEMBER 2015 82
-919
495
273
512
1377
177
-508
25
-3716
2007
1670
1084
597
827
1083
738
-1256
-49
273
845 710
-162
51
-1012 -916
1275
457
-325
37
487
-4000
-2000
0
2000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Operational Free Cash Flow Operational Free Cash Flow excluding WCR evolution
(million euros)
A STRONGER FCF MANAGEMENT
INVESTOR RELATIONS
RENAULT PRESENTATION DECEMBER 2015 83
8,2
9,7 10,1
11,8
13,6
15,9
19,7
21,2 22,1
19,4
16,5
22,8
24,6 24,6
23,2
24,9
-2,7
-4,8
-3,9
-2,5 -1,7
-1,6
-2,3 -2,4 -2,1
-7,9
-5,9
-1,4
-0,3
1,5 1,8 2,1
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Shareholders' equity
Automotive Net cash
AUTOMOTIVE DIVISION FULLY DELEVRAGED
(billion euros)
Former
GAAPs
IFRS
GAAPs
INVESTOR RELATIONS
RENAULT PRESENTATION DECEMBER 2015 84
RENAULT INVESTORS RELATION CONTACT
Thierry Huon
Investor Relations Director
+33 1 76 84 53 09
thierry.c.huon@renault.com
Nicolas Chaillan
Investor Relations
+33 1 76 83 05 13
nicolas.chaillan@renault.com
Clémentine de Quatrebarbes
Investor Relations
+33 1 76 84 60 89
clementine.de-quatrebarbes@renault.com
Investor relations internet site: http://group.renault.com/finance

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  • 1. RENAULT GROUP Goldman Sachs – Annual Global Automotive Conference
  • 2. DECEMBER 2015 2 INVESTOR RELATIONS RENAULT PRESENTATION Information contained within this document may contain forward looking statements. Although the Company considers that such information and statements are based on reasonable assumptions taken on the date of this report, due to their nature, they can be risky and uncertain (as described in the Renault documentation registered within the French financial markets regulation authorities) and can lead to a difference between the exact figures and those given or deduced from said information and statements. Renault does not undertake to provide updates or revisions, should any new statements and information be available, should any new specific events occur or for any other reason. Renault makes no representation, declaration or warranty as regards the accuracy, sufficiency, adequacy, effectiveness and genuineness of any statements and information contained in this report. Further information on Renault can be found on Renault’s website (www.group.renault.com), in the section Finance / Regulated Information. DISCLAIMER
  • 3. DECEMBER 2015 3 INVESTOR RELATIONS RENAULT PRESENTATION 2015 OUTLOOK The European car market should grow 8% this year, with a French market up 5%. Our main emerging markets should remain adverse and volatile in the fourth quarter. Within this context, Renault confirms its guidance: -increase registrations and Group revenues (at constant exchange rates), -improve Group operating profit and that of the Automotive division, -achieve positive Automotive operational free cash flow.
  • 4. DECEMBER 2015 4 INVESTOR RELATIONS RENAULT PRESENTATION KEY TAKE-AWAYS FROM Q3 RESULTS RECOVERY IN EUROPE GAINS TRACTION EMERGING MARKETS AND CURRENCIES STILL ADVERSE & VOLATILE SUCCESS OF OUR NEW PRODUCTS WITH POSITIVE MIX IMPACT STILL STRONG CONTRIBUTION OF SALES TO PARTNERS FY GUIDANCE CONFIRMED
  • 5. DECEMBER 2015 5 INVESTOR RELATIONS RENAULT PRESENTATION RISKS & OPPORTUNITIES FOR THE SECOND HALF REGULATORY COST PRESSURE EMERGING MARKETS SUPPLY CHAIN NEW PRODUCTS EUROPEAN MARKET MOMENTUM
  • 6. DECEMBER 2015 6 INVESTOR RELATIONS RENAULT PRESENTATION YTD 2015 COMMERCIAL UPDATE 01
  • 7. DECEMBER 2015 7 INVESTOR RELATIONS RENAULT PRESENTATION 613 318 88 75 102 30 621 339 87 72 97 27 Q3'14 Q3'15 Q3'14 Q3'15 Q3'14 Q3'15 Q3'14 Q3'15 Q3'14 Q3'15 Q3'14 Q3'15 RENAULT GROUP UNIT REGISTRATIONS Q3 2015 VS Q3 2014 GLOBAL +1.2% EUROPE +6.5% AMERICAS -5.3% ASIA-PACIFIC -11.2% AFRICA-ME-INDIA -4.8% EURASIA -1.2% K units (PC+LCV) WORLD MARKET SHARE: 3.01% (+0.04 pts) -0.2%TIV +9.8% -13.9% -6.6% -12.5% -2.3% GROUP
  • 8. DECEMBER 2015 8 INVESTOR RELATIONS RENAULT PRESENTATION 1,979 1,094 265 225 308 87 1,998 1,188 246 223 261 80 09'14 09'15 09'14 09'15 09'14 09'15 09'14 09'15 09'14 09'15 09'14 09'15 RENAULT GROUP UNIT REGISTRATIONS SEPT 2015 (YTD) VS SEPT 2014 (YTD) GLOBAL +0.9% EUROPE +8.5% AMERICAS -15.3% ASIA-PACIFIC -7.5% AFRICA-ME-INDIA -1.0% EURASIA -7.2% K units (PC+LCV) WORLD MARKET SHARE: 3.12% (=) +0.7%TIV +9.0% -18.4% -0.6% -11.1% -0.5% GROUP
  • 9. DECEMBER 2015 9 INVESTOR RELATIONS RENAULT PRESENTATION FRANCE01 BRAZIL02 03 ITALY TURKEY04 SOUTH KOREA 05 06 07 08 09 SPAIN 10 24.4% 4.7% 7.4% 17.1% GERMANY 8.1% 12.9% ARGENTINA 14.6% 4.5% RUSSIA 7.4% M/S (PC+LCV) EUROPE KEEPS PUSHING SALES MOMENTUM – Q3 2015 -1.4 pts +0.5 pts +2.6 pts -1.0 pts VS. Q3 2014 UK 4.3% +1.1 pts -0.2 pts -0.5 pts +0.3 pts -1.0 pts +0.2 pts REGIONAL SALES BREAKDOWN 36% 42% 48% 55% 52% 48% Q3 2010 Q3 2011 Q3 2012 Q3 2013 Q3 2014 Q3 2015 42% 48% 52% 48% 45%55% 58% 52% 45% 48% 52% 55% INTERNATIONALEUROPE
  • 10. DECEMBER 2015 10 INVESTOR RELATIONS RENAULT PRESENTATION EUROPE REGION – GROUP ORDER BOOK PC+LCV sept.-07 sept.-08 sept.-09 sept.-10 sept.-11 sept.-12 sept.-13 sept.-14 sept.-15
  • 11. DECEMBER 2015 11 INVESTOR RELATIONS RENAULT PRESENTATION Q3 2015 REVENUES 02
  • 12. DECEMBER 2015 12 INVESTOR RELATIONS RENAULT PRESENTATION RENAULT GROUP REVENUES BY DIVISION IN Q3 2015 In million euros Q3 2015 Change (%)Q3 2014 Automotive Sales Financing TOTAL 8,802 534 9,336 +10.2% -2.2% +9.4% 7,984 546 8,530
  • 13. DECEMBER 2015 13 INVESTOR RELATIONS RENAULT PRESENTATION RENAULT GROUP REVENUES BY DIVISION 2015 9 months In million euros 2015 YTD Change (%) 2014 YTD Automotive Sales Financing TOTAL 29,867 1,666 31,533 +11.8% +2.4% +11.2% 26,723 1,627 28,350
  • 14. DECEMBER 2015 14 INVESTOR RELATIONS RENAULT PRESENTATION AUTOMOTIVE REVENUE VARIANCE ANALYSIS 7,984 8,802 -173 +45 -45 +184 +178 +413 +216 Currency Volume Geographic mix Product mix Price Sales to partners Others +10.2% -2.2 pts+0.6 pts -0.6 pts +2.3 pts +2.3 pts +5.2 pts +2.6 pts In million euros CHANGE Q3 2015 / Q3 2014 : +€818m Q3 2014 Q3 2015
  • 15. DECEMBER 2015 15 INVESTOR RELATIONS RENAULT PRESENTATION AUTOMOTIVE REVENUE VARIANCE ANALYSIS 26,723 29,867 +52 +660 -91 +329 +486 +1,525 +183 Currency Volume Geographic mix Product mix Price Sales to partners Others +11.8% +0.2 pts+2.5 pts -0.3 pts +1.2 pts +1.8 pts +5.7 pts +0.7 pts In million euros CHANGE 2015 / 2014 : +€3,144m Q3 2014 YTD Q3 2015 YTD
  • 16. DECEMBER 2015 16 INVESTOR RELATIONS RENAULT PRESENTATION DISTRIBUTION STOCK NEW VEHICLE DISTRIBUTION STOCK (IN K UNITS) 503 488 527 495 493 459 515 510 503 243 100 255 158 253 106 251 177 260260 388 272 337 240 353 264 333 243 SEP'13 DEC'13 MAR'14 JUN'14 SEP'14 DEC'14 MAR'15 JUN'15 SEP'15 GROUP INDEPENDENT DEALERS TOTAL Number of days of sales (previous period) 75 7663 62 74 57 74 64 75
  • 17. DECEMBER 2015 17 INVESTOR RELATIONS RENAULT PRESENTATION RCI BANQUE PERFORMANCE Q3 2015 Change (%)Q3 2014 Revenues (in € m) Average loans outstanding (in € bn) New contracts (in thousand units) New financing (in € bn) 534 28.8 348 3.8 546 25.6 302 3.2 -2.2% +12.8% +15.2% +21.9%
  • 18. DECEMBER 2015 18 INVESTOR RELATIONS RENAULT PRESENTATION RCI BANQUE PERFORMANCE YTD Q3 2015 YTD Change (%) Q3 2014 YTD Revenues (in € m) Average loans outstanding (in € bn) New contracts (in thousand units) New financing (in € bn) 1,666 27.9 1,034 11.6 1,627 25.1 902 9.2 +2.4% +10.9% +14.7% +26.7%
  • 19. DECEMBER 2015 19 INVESTOR RELATIONS RENAULT PRESENTATION H1 2015 FINANCIAL RESULTS 03
  • 20. DECEMBER 2015 20 INVESTOR RELATIONS RENAULT PRESENTATION H1 2014 H1 2015 CHANGE Global registrations (units) 1,365,988 1,376,356 +0.8% Group revenues 19,820 22,197 +12.0% of which: Automotive 18,739 21,065 +12.4% Sales financing 1,081 1,132 +4.7% Q1 Q2 +13.7% +10.8% H1 2015 GROUP REVENUES (million euros)
  • 21. DECEMBER 2015 21 INVESTOR RELATIONS RENAULT PRESENTATION AUTOMOTIVE REVENUES VARIANCE ANALYSIS 18,739 21,065 +615 -46 +145 +308 +1,112 +225 -33 Currency Volume Geographic mix Product mix Sales to partners Others +12.4% +3.3pts -0.2pts +0.8pts +1.6pts +1.2pts -0.2pts Price +5.9pts CHANGE H1 2015 / H1 2014: +€2,326m H1 2014 H1 2015 (million euros)
  • 22. DECEMBER 2015 22 INVESTOR RELATIONS RENAULT PRESENTATION 729 1,069 +236 -17 +28 -283 +263 +1 +112 GROUP OPERATING MARGIN VARIANCE ANALYSIS Currency Volume & partners Mix / Net Enrichment G&A RCI & Other activities COST REDUCTION +€219m H1 2014 H1 2015 (million euros) CHANGE H1 2015 / H1 2014: +€340m Monozukuri Raw materials GROWTH +€264m
  • 23. DECEMBER 2015 23 INVESTOR RELATIONS RENAULT PRESENTATION DISTRIBUTION STOCK NEW VEHICLE DISTRIBUTION STOCK (IN K UNITS) 445 481 507 503 488 527 495 493 459 515 510 131 241 140 243 100 255 158 253 106 251 177 314 240 367 260 388 272 337 240 353 264 333 DEC'12 MAR'13 JUN'13 SEP'13 DEC'13 MAR'14 JUN'14 SEP'14 DEC'14 MAR'15 JUN'15 GROUP INDEPENDENT DEALERS TOTAL Number of days of sales (previous period) 65 6772 75 7663 62 74 57 74 64
  • 24. DECEMBER 2015 24 INVESTOR RELATIONS RENAULT PRESENTATION -369 +267 -591 -118 AUTOMOTIVE NET CASH POSITION Operational free cash flow Cash flow +1,727 Change in WCR Dividends paid Net tangible & intangible investments - 1,453 Net cash decrease Dividends received from listed co. -123 Leased Vehicles -431 Capitalized R&D Financial investments & others -899 Net capex DEC. 31, 2014: €2,104m JUNE 30, 2015: €1,567m -95 -537 (million euros)
  • 25. DECEMBER 2015 25 INVESTOR RELATIONS RENAULT PRESENTATION H1 2014 H1 2015 CHANGE Revenues 19,820 22,197 +12.0% Operating margin +729 +1,069 +340 in % of revenues +3.7% +4.8% +1.1 pts Other operating income & expenses -265 -116 +149 EBIT +464 +953 +489 Net financial income & expenses -124 -161 -37 Associated companies +725 +912 +187 Current & deferred taxes -264 -235 +29 Net income +801 +1,469 +668 (million euros) H1 2015 FINANCIAL RESULTS
  • 26. DECEMBER 2015 26 INVESTOR RELATIONS RENAULT PRESENTATION OPERATING MARGIN BY ACTIVITY H1 2014 H1 2015 CHANGE AUTOMOTIVE +348 +656 +308 % Automotive revenues +1.9% +3.1% +1.3 pts SALES FINANCING +381 +413 +32 GROUP OPERATING MARGIN +729 +1,069 +340 % Group revenues +3.7% +4.8% +1.1 pts (million euros)
  • 27. DECEMBER 2015 27 INVESTOR RELATIONS RENAULT PRESENTATION RCI BANQUE in % of average loans outstanding H1 2014 H1 2015 New financings (€bn) 6.0 7.7 Average performing loans outstanding (€bn) 24.8 27.6 Net banking income* 5.14% 4.93% Cost of risk* (customer & dealer) -0.47% -0.31% Operating expenses* -1.58% -1.54% Pretax income* 2.92% 3.08% (* in percentage of average performing loans outstanding)
  • 28. DECEMBER 2015 28 INVESTOR RELATIONS RENAULT PRESENTATION OTHER OPERATING INCOME & EXPENSES H1 2014 H1 2015 Net restructuring costs (incl. competitiveness agreement in France) -152 -106 Impairment of assets / reversal -135 -11 Profit / loss on asset sales +30 +6 Others -8 -5 TOTAL OTHER OPERATING INCOME & EXPENSES -265 -116 (million euros)
  • 29. DECEMBER 2015 29 INVESTOR RELATIONS RENAULT PRESENTATION ASSOCIATED COMPANIES H1 2014 H1 2015 CHANGE Nissan +789 +979 +190 AVTOVAZ (1) -55 -70 -15 Others -9 +3 +12 TOTAL ASSOCIATED COMPANIES +725 +912 +187 (1) AVTOVAZ is consolidated with a 3-month time lag Q1 Q2 494 485 (million euros)
  • 30. DECEMBER 2015 30 INVESTOR RELATIONS RENAULT PRESENTATION LIQUIDITY RESERVES Cash = €11.6bn Available credit lines = €3.2bn TOTAL = €14.8bn LIQUIDITY RESERVES Cash = €10.2bn Available credit lines = € 3.3bn TOTAL = €13.5bn AUTOMOTIVE DIVISION LIQUIDITY DECEMBER 2014 JUNE 2015
  • 31. DECEMBER 2015 31 INVESTOR RELATIONS RENAULT PRESENTATION RCI LIQUIDITY* LIQUIDITY RESERVES Cash = €0.1bn HQLA = €0.9bn ECB eligible = €1.9bn Available credit lines = €4.0bn TOTAL = €6.9bn LIQUIDITY RESERVES Cash = €0.1bn HQLA = €0.8bn ECB eligible = €1.8bn Available credit lines = €4.1bn TOTAL = €6.8bn DECEMBER 2014 JUNE 2015 *Central funding perimeter
  • 32. DECEMBER 2015 32 INVESTOR RELATIONS RENAULT PRESENTATION RCI BANQUE RETAIL DEPOSIT ACTIVITY Dec. 2014 June 2015 DEPOSITS 6.5 7.0 o/w GERMANY 4.4 5.1 o/w FRANCE 1.8 1.4 o/w AUSTRIA 0.4 0.5 o/w UNITED KINGDOM N/A 0.04 • 2016 TARGET: 30% OF RCI BANQUE OUTSTANDINGS (billion euros)
  • 33. DECEMBER 2015 33 INVESTOR RELATIONS RENAULT PRESENTATION DRIVE THE CHANGE How to get to our targets 03
  • 34. DECEMBER 2015 34 INVESTOR RELATIONS RENAULT PRESENTATION Kadjar 2015 RENEWING OUR RANGE OUR MAIN REVENUES OPPORTUNITIES New Espace C-hatchD-sedan C-MPV Pick-up 1TPick-up 0,5T D-crossoverCaptur 2015 2015 2015 2015 New Twingo A-entry 2014 2014 LCV international roll out Full cross-over line up for all our markets A-entry vehicles for emerging countries New Twingo for Europe C & D complete renewal
  • 35. DECEMBER 2015 35 INVESTOR RELATIONS RENAULT PRESENTATION A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS RENAULT ESPACE
  • 36. DECEMBER 2015 36 INVESTOR RELATIONS RENAULT PRESENTATION A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS RENAULT KADJAR KADJAR
  • 37. DECEMBER 2015 37 INVESTOR RELATIONS RENAULT PRESENTATION A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS RENAULT KWID KADJAR
  • 38. DECEMBER 2015 38 INVESTOR RELATIONS RENAULT PRESENTATION A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS RENAULT OROCH
  • 39. DECEMBER 2015 39 INVESTOR RELATIONS RENAULT PRESENTATION A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS RENAULT TALISMAN KADJAR
  • 40. DECEMBER 2015 40 INVESTOR RELATIONS RENAULT PRESENTATION A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS RENAULT TALISMAN ESTATE
  • 41. DECEMBER 2015 41 INVESTOR RELATIONS RENAULT PRESENTATION A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS RENAULT ALASKAN REVEAL
  • 42. DECEMBER 2015 42 INVESTOR RELATIONS RENAULT PRESENTATION A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS RENAULT MEGANE REVEAL
  • 43. DECEMBER 2015 43 INVESTOR RELATIONS RENAULT PRESENTATION 65%33% Millions units per platforms > 2016 CMFC-D CMFB Source : VAG,Hyundai,Toyota : IHS / R&N : Alliance plan 2013 > 2016 SHARED PLATFORMS MODULAR APPROACH 80% of future launches 2/3 of value of upcoming vehicles from standardized modules 0 1 2 3 4 5 CMFC-D CMFB DEVELOPING OUR SCALE AND COMPETITIVENESS
  • 44. DECEMBER 2015 44 INVESTOR RELATIONS RENAULT PRESENTATION SOURCING OPTIMIZATION INDUSTRIAL CAPACITIES Local integration rate* > 80 % in 4 major countries Utilization rate in Europe > 100% 2011 > 2016 Renault for Renault Renault for Partners Renault capacity (2 shifts/day) Alliance for Renault >2016 2013 2010 China Russia India Brazil (*) including powertrain group Production 5% 17% REDUCING COST OF VEHICULES
  • 45. DECEMBER 2015 45 INVESTOR RELATIONS RENAULT PRESENTATION 2009 2010 2011 2012 2013 2014 2016e Renault Nissan > €4.3bn ALLIANCE SYNERGIES €3.8bn* (*) estimated ACCELERATING ALLIANCE SYNERGIES 4 KEY-FUNCTIONS CONVERGENCE PURCHASING UPSTREAM ENGINEERING HUMAN RESOURCES MANUFACTURING & LOGISTICS
  • 46. DECEMBER 2015 46 INVESTOR RELATIONS RENAULT PRESENTATION CAPEX AND R&D CAPPED at 9% 2008 2009 2010 2011 2012 2013 2014 2015 H1 2015- 2016e NET CAPEX 5.6 % 4.4 % 2.5 % 3.1% 4.3 % 3.8 % 3.4% 3.6% NET R&D 5.5 % 4.5 % 4.0 % 3.8% 3.8 % 3.7 % 4.0% 4.4% TOTAL 11.1 % 8.9 % 6.5 % 7.0% 8.1% 7.5% 7.4% 8.0% < 9% % OF GROUP REVENUES ALLIANCE BENEFITS TO RENAULT: R&D AND CAPEX
  • 47. INVESTOR RELATIONS RENAULT PRESENTATION DECEMBER 2015 47 A LEADER IN CO2 EMISSION REDUCTION
  • 48. DECEMBER 2015 48 INVESTOR RELATIONS RENAULT PRESENTATION PREPARING FOR THE FUTURE EOLAB
  • 49. DECEMBER 2015 49 INVESTOR RELATIONS RENAULT PRESENTATION OPERATING MARGIN IMPROVEMENT 3.0 % > 5 % VolumeCost reduction Enrichment Net Raw material Provision FOREX FY2013 > FY2016
  • 50. DECEMBER 2015 50 INVESTOR RELATIONS RENAULT PRESENTATION 2015 H1: A ROBUST MILESTONE FOR OUR MID-TERM PLAN MARGIN IMPROVEMENT 1,9% 3,0% 3,9% 4,8% 0,1% 1,3% 2,2% 3,1% 2012 restated 2013 2014 2015 H1 GROUP OPERATING MARGIN AUTOMOTIVE OPERATING MARGIN > 5% in 2017* * target
  • 51. INVESTOR RELATIONS RENAULT PRESENTATION DECEMBER 2015 51 DIVIDEND POLICY 0,00 0,30 1,16 1,72 1,72 1,90 2009 2010 2011 2012 2013 2014 DIVIDENDS PAID IN € PER SHARES First phase of the plan, dividend paid based on dividends received from shareholdings in listed companies, with a one-year time lag. The purpose of that policy was to raise the profile of the dividend while achieving the debt reduction target. For the second phase of the plan, pay- out policy independent of the dividends received on holdings in listed companies. Aim of this policy : offer returns at least equivalent to the average of European automakers. The dividend will be paid on May 15 (or the following working day).
  • 52. DECEMBER 2015 52 INVESTOR RELATIONS RENAULT PRESENTATION NEW FRONTIERS: CHINA 2013 2014 2015 2016 2017 2018 2019 Industrial projectSignature New plant 150,000 veh./year C crossover D crossover Vehicle in study WITH OUR PARTNERS 2nd step
  • 53. DECEMBER 2015 53 INVESTOR RELATIONS RENAULT PRESENTATION PREPARING FOR THE FUTURE WUHAN PLANT
  • 54. DECEMBER 2015 54 INVESTOR RELATIONS RENAULT PRESENTATION FY 2014 FINANCIAL RESULTS 03
  • 55. DECEMBER 2015 55 INVESTOR RELATIONS RENAULT PRESENTATION AUTOMOTIVE REVENUES VARIANCE ANALYSIS 38,775 38,874 -1,150 -327 +64 -33 +311 +1,248 -14 Currency Volume Geographic mix Mix Sales to partners Others +0.3% -3.0pts -0.8pts +0.2pts -0.1pts +3.2pts 0.0pts Price +0.8pts CHANGE 2014 vs 2013: +€99m FY 2013 FY 2014 (million euros)
  • 56. DECEMBER 2015 56 INVESTOR RELATIONS RENAULT PRESENTATION OPERATING PROFIT BY ACTIVITY FY 2013 FY 2014 CHANGE AUTOMOTIVE 495 858 +363 % Automotive revenues 1.3% 2.2% +0.9pts SALES FINANCING 747 751 +4 GROUP OPERATING PROFIT 1,242 1,609 +367 % Group revenues 3.0% 3.9% +0.9pts (million euros)
  • 57. DECEMBER 2015 57 INVESTOR RELATIONS RENAULT PRESENTATION 1,242 1,609 +778 +66 +134 -226 +121 -35 -471 GROUP OPERATING PROFIT VARIANCE ANALYSIS Currency Volume & partners Mix / Net Enrichment G&A RCI Banque & other activities COST REDUCTION €844m FY 2013 FY 2014 CHANGE 2014 vs 2013: +€367m Monozukuri Raw materials GROWTH €86m (million euros)
  • 58. DECEMBER 2015 58 INVESTOR RELATIONS RENAULT PRESENTATION CONTINUING COST REDUCTION COST REDUCTION CONTRIBUTION TO OPERATING PROFIT IMPROVEMENT + 430 -107 + 397 + 58 + 66 Purchasing Warranty Manufacturing & Logistic R&D G&A +€844m vs 2013
  • 59. DECEMBER 2015 59 INVESTOR RELATIONS RENAULT PRESENTATION OTHER OPERATING INCOME & EXPENSES FY 2013 FY 2014 Net restructuring costs (incl. competitiveness agreement in France) -423 -305 Impairment of assets / reversal -488 -153 RCI Banque (mainly change in regulation) - -50 Profit / loss on asset sales +153 +7 Others -518 -3 Total other operating income & expenses -1,276 -504 (million euros)
  • 60. DECEMBER 2015 60 INVESTOR RELATIONS RENAULT PRESENTATION ASSOCIATED COMPANIES FY 2013 FY 2014 CHANGE Nissan 1,498 1,559 +61 AVTOVAZ (1) -34 -182 -148 Others -20 -15 +5 Total associated companies 1,444 1,362 -82 (1) AVTOVAZ is consolidated with a 3-month time lag . Adjustments have been made to take into account significant transactions and accounting entries that occurred between September 30, 2014 and December 31, 2014. (million euros)
  • 61. DECEMBER 2015 61 INVESTOR RELATIONS RENAULT PRESENTATION FY 2014 FINANCIAL RESULTS FY 2013 FY 2014 CHANGE Revenues 40,932 41,055 +0.3% Operating profit 1,242 1,609 +367 in % of revenues 3.0% 3.9% +0.9pts Other operating income & expenses -1,276 -504 +772 EBIT -34 1,105 +1,139 Net financial income & expenses -282 -333 -51 Associated companies 1,444 1,362 -82 Current & deferred taxes -433 -136 +297 Net income 695 1,998 +1,303 (million euros)
  • 62. DECEMBER 2015 62 INVESTOR RELATIONS RENAULT PRESENTATION 3,138 1,083 343 +596 +463 -542 -661 AUTOMOTIVE NET CASH POSITION Operational free cash flow Cash flow Change in WCR Dividends paid Net tangible & intangible investments -2,651 Net change In cash Dividends received from listed co. Capitalized R&D -845 Financial investments & others Net capex -1,571 DEC 31, 2013 : €1,761m DEC 31, 2014 : €2,104m (million euros) Leased Vehicles -235
  • 63. DECEMBER 2015 63 INVESTOR RELATIONS RENAULT PRESENTATION LIQUIDITY RESERVES Cash = €10.7bn Available credit lines = €3.4bn TOTAL = €14.1bn LIQUIDITY RESERVES Cash = €11.6bn Available credit lines = €3.2bn TOTAL = €14.8bn AUTOMOTIVE DIVISION LIQUIDITY DECEMBER 2013 DECEMBER 2014
  • 64. DECEMBER 2015 64 INVESTOR RELATIONS RENAULT PRESENTATION FUNDING & LIQUIDITY PROFILE RSA total funding : 7.6 billions € In million euros at December 31, 2014 Bonds, Banks & assimilated (in millions euros *) Liquidity reserve: - Available back-up lines : 3.2 billions € - Cash & cash equivalents: 11.6 billions € Automobile Division * fx rates as of 12/31/14
  • 65. DECEMBER 2015 65 INVESTOR RELATIONS RENAULT PRESENTATION RCI BANQUE (in percentage of average loans outstanding) 2013 2014 New financings (€bn) 11.4 12.6 Average loans outstanding (€bn) 24.2 25.4 Net banking income* 5.04% 4.98% Cost of risk (customer & dealer) -0.42% -0.43% Operating expenses* -1.56% -1.58% Pretax income* 3.07% 2.95% Operating profit (€m) 747 751 * Excluding non recurring items
  • 66. DECEMBER 2015 66 INVESTOR RELATIONS RENAULT PRESENTATION End 2013 End 2014 DEPOSITS 4,33 6,53 o/w GERMANY 3,05 4,38 o/w FRANCE 1,28 1,78 o/w AUSTRIA - 0,37 RCI BANQUE RETAIL DEPOSIT ACTIVITY • 2016 TARGET: 30% OF RCI BANQUE OUTSTANDINGS (billion euros)
  • 67. DECEMBER 2015 67 INVESTOR RELATIONS RENAULT PRESENTATION 04RENAULT IN BRIEF
  • 68. INVESTOR RELATIONS RENAULT PRESENTATION DECEMBER 2015 68 RENAULT – IN BRIEF Renault was founded in 1898 and is listed on the Paris NYSE Euronext since 1995 Renault created an Alliance with Nissan in 1999 Renault has strategic cooperation with Daimler Market capitalization of €17.9bn as of Dec 2014 (€21.9bn as of Aug 2015) Renault employs 117,395 employees worldwide 2,712,432 vehicles sold worldwide in 2014 The Renault brand is ranked # 3 in Europe The company is a bond issuer via two entities: Renault, rated BBB- by S&P (stable outlook)/BBB- (stable outlook) by Fitch / Ba1 (positive outlook) by Moody’s RCI Banque, its financing arm, rated Baa1 (stable outlook) by Moody’s / BBB (negative outlook) by S&P OWNERSHIP OF CAPITAL AT END 2014 Treasury stock2 0.86% Employees 2,97% Nissan1 15.00% French State 15.01% Public 63.05% 1 Nissan does not exercise the voting rights attached to these shares 2 Shares acquired for the purposes of stock option programs. These shares have no voting rights attached 3 A strategic cooperation between the Renault-Nissan Alliance and Daimler AG was announced in April 2010; Total share capital €1,127mm Total number of shares 295,722,284 Daimler3 3.10% Source: Renault SA
  • 69. INVESTOR RELATIONS RENAULT PRESENTATION DECEMBER 2015 69 GROUP STRUCTURE RCI BANQUE RENAULT SAMSUNG MOTORS AvtoVAZ OTHER COMPANIES industrial, commercial, refinancing and cash management concerns RENAULT S.A.S. DACIA NISSAN MOTOR RENAULT SA 100 % 43.4 % 99.4 % 1.55 % 100 % 80.1 %37,25% DAIMLER AG Renault Group Alliance and Cooperation
  • 70. INVESTOR RELATIONS RENAULT PRESENTATION DECEMBER 2015 70 A MAJOR ALLIANCE IN THE AUTOMOTIVE LANDSCAPE 52 52 54 56 56 56 57 61 63 65 68 65 63 71 75 79 82 85 51 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 10,1 9,9 9,9 8,5 7,7 6,3 5,3 4,6 4,4 2,9 2,7 0,0 1,0 2,0 3,0 4,0 5,0 6,0 7,0 8,0 9,0 10,0 11,0 TOYOTA VW-Porsche GM-Wulinng ALLIANCE HYUNDAI FORD NISSAN FIAT-CHYSLER HONDA PSA RENAULT Renault Nissan Avotvaz 8,470 million units sold in 2014 TIV (PC+LCV) IN MILLION UNITS MAIN CARS SALES IN 2014 (PC+LCV) IN MILLION UNITS 448 5% 5 310 63% 2 712 32%
  • 71. INVESTOR RELATIONS RENAULT PRESENTATION DECEMBER 2015 71 62%12% 11% 11% 4% Sales by Region Europe Americas Africa - ME -India Eurasia Asia-Pacific RENAULT SALES IN H1 2015 76% 21% 3% Sales by brand Renault Dacia RSM 4% 27% 40% 14% 3% 12% Sales by segment A B MO C D/E LCV MAIN CARS SALES IN H1 2015 (PC+LCV) IN KUNITS 237 171 168 147 145 128 76 54 47 0 100 200 300 400 500 CLIO-Bseg SANDERO-MO DUSTER-MO MEGANE/SCENIC-C SEG LOGAN-MO CAPTUR-BSEG KANGOO-LCV TWINGO-ASEG MASTER-LCV
  • 72. INVESTOR RELATIONS RENAULT PRESENTATION DECEMBER 2015 72 HEADCOUNT EVOLUTION 74 73 71 70 70 68 63 60 55 54 55 50 49 46 26 24 24 22 20 20 18 17 20 35 31 31 28 33 35 43 45 44 49 53 56 56 51 28 24 23 26 24 0 20 40 60 80 100 120 140 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 France EUROPE Outside Europe 129 130 129 121 123 128 Headcount excluding early retirement schemes 137 128 125 127 127 117 124 122
  • 73. INVESTOR RELATIONS RENAULT PRESENTATION DECEMBER 2015 73 INTERNATIONAL SALES EXPANSION 11% 17% 17% 17% 19% 23% 27% 30% 35% 37% 34% 37% 43% 50% 50% 46% 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 % OF UNIT SALES OUTSIDE EUROPE
  • 74. INVESTOR RELATIONS RENAULT PRESENTATION DECEMBER 2015 74 ENTRY PROGRAM SALES EVOLUTION –OVER 1M UNITS IN 2014 23 145 248 367 510 535 687 814 954 1 084 1 142 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 IN K UNITS
  • 75. INVESTOR RELATIONS RENAULT PRESENTATION DECEMBER 2015 75 M0 PLATFORM : THE RIGHT TOOL FOR INTERNATIONAL EXPANSION % OF INTERNATIONAL SALES UPON M0 PLATFORM 63% 37% MO Others
  • 76. INVESTOR RELATIONS RENAULT PRESENTATION DECEMBER 2015 76 ENTRY PROGRAM RECIPE FOR SUCCESS Two different business models: Dacia Brand in Europe and Euromed (45% of the sales) Renault Brand for International development (55% of the sales) The “right” level of vehicle content Adjusted for the different markets High carry-over to minimize investment Seven bodies on the same platform Localization NEW LOGAN DUSTER
  • 77. INVESTOR RELATIONS RENAULT PRESENTATION DECEMBER 2015 77 RENAULT RANGE
  • 78. INVESTOR RELATIONS RENAULT PRESENTATION DECEMBER 2015 78 RENAULT RANGE
  • 79. INVESTOR RELATIONS RENAULT PRESENTATION DECEMBER 2015 79 DACIA & RSM RANGE
  • 80. INVESTOR RELATIONS RENAULT PRESENTATION DECEMBER 2015 80 P&L STATEMENT SINCE 2000 * with Renault VI PUBLISHED 2000* 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 in K units Registration 2 289 2 409 2 404 2 389 2 489 2 533 2 433 2 484 2 382 2 309 2 626 2 722 2 550 2 628 2 712 production 2 348 2 375 2 344 2 385 2 472 2 516 2 385 2 659 2 421 2 199 2 599 2 637 2 725 2 520 2 574 in€ m Revenues 40 175 36 351 36 336 37 525 40 715 41 338 41 528 40 682 37 791 33 712 38 971 42 628 41 270 40 932 41 055 o/w Automotive 31 486 33 841 34 456 35 535 38 645 39 458 39 605 38 679 35 757 31 951 37 172 40 679 39 156 38 775 38 874 o/w sales financing 1 656 1 828 1 880 1 990 2 070 1 880 1 923 2 003 2 034 1 761 1 799 1 949 2 114 2 157 2 181 Cost of goods and services sold -30 214 -28 240 -28 178 -29 273 -31 162 -32 137 -32 499 -31 408 -29 659 -26 978 -30 620 -33 848 -33 017 -33 611 -33 310 o/w Research and development expenses -2 048 -1 935 -1 143 -1 243 -1 383 -2 034 -1 963 -1 850 -1 858 -1 795 -1 834 -2 017 -1 915 -1 812 -1 721 o/w SG&A -4 838 -4 538 -4 363 -4 452 -4 581 -4 918 -5 018 -4 949 -4 770 -4 382 -4 605 -4 751 -4 534 -4 267 -4 415 Operating margin 2 022 473 1 483 1 402 2 418 1 323 1 063 1 354 212 -396 1 099 1 091 729 1 242 1 609 o/w Automotive 1 574 216 1 189 1 035 1 974 858 571 882 -275 -902 396 330 -25 495 858 o/w sales financing 253 252 294 367 444 465 492 472 487 506 703 761 754 747 751 Other operating income and expenses -319 231 -266 -168 -270 191 -186 -116 -329 -559 -464 153 -607 -1 276 -504 Operating income 1 703 704 1 217 1 234 2 148 1 514 877 1 238 -117 -955 635 1 244 122 -34 1 105 Financial expense -69 -64 -91 -71 -348 -327 61 76 441 -404 -376 -121 -266 -282 -333 Capital gain on sale of shares in Volvo AB 2 000 924 Share in net income of companies accounted for by the equity method 89 380 1 331 1 860 2 020 2 597 2 260 1 675 437 -1 561 1 289 1 524 1 504 1 444 1 362 o/w Nissan 56 497 1 335 1 705 1 767 2 275 1 871 1 288 345 -902 1 084 1 332 1 234 1 498 1 559 o/w Volvo -26 71 175 240 308 384 352 226 -301 214 136 80 o/w AvtoVAZ -370 -21 49 186 -34 -182 Current and deferred taxes -649 -67 -447 -510 -634 -331 -255 -255 -162 -148 -58 -508 -549 -433 -136 Group net income 1 074 953 2 010 2 513 3 186 3 453 2 943 2 734 599 -3 068 3 490 2 139 1 735 695 1 998 Renault net income 1 080 1 051 1 956 2 480 3 119 3 367 2 869 2 669 571 -3 125 3 420 2 092 1 772 586 1 890 EPS 4,5 4,4 7,5 9,3 11,7 13,2 11,2 10,3 2,2 -12,1 12,7 7,7 6,5 2,2 6,9 Number of shares 239 798 239 998 259 560 265 960 265 960 255 177 256 994 258 621 256 532 257 514 269 292 272 381 272 256 272 290 273 049 workforce 166 114 140 417 132 351 130 740 130 573 126 584 128 893 130 179 129 069 121 422 122 615 128 322 127 086 121 807 117 395 BEFORE IFRS IFRS
  • 81. INVESTOR RELATIONS RENAULT PRESENTATION DECEMBER 2015 81 CASH FLOW STATEMENT PUBLISHED IFRS in € m 2000* 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 AUTO EBIT 1 467 458 928 858 1 710 1 058 303 767 -608 -1 457 -78 478 -615 -770 389 Depreciation & amortization 1 817 1 683 1 938 2 117 2 133 2 658 2 817 2 815 2 892 3 124 3 045 2 820 3 299 3 164 2 702 AUTOMOTIVE EBITDA 3 284 2 141 2 866 2 975 3 843 3 716 3 120 3 582 2 284 1 667 2 967 3 298 2 684 2 394 3 091 Cash flow 3 027 1 290 2 919 2 806 3 798 3 589 3 288 3 616 2 373 1 386 3 074 2 910 2 577 2 914 3 138 Change in WC -1 657 1 751 322 239 401 -533 -346 -26 -2 704 2 923 395 627 922 790 596 Capex and R&D cost -2 289 -2 546 -2 968 -2 533 -2 823 -2 879 -3 585 -3 565 -3 385 -2 054 -1 644 -2 212 -2 674 -2 543 -2 416 CAPEX -2 253 -2 497 -2 284 -1 927 -2 035 -2 046 -2 494 -2 278 -2 260 -1 465 -978 -1 325 -1 910 -1 811 -1 571 CAPITALIZED R&D -36 -49 -684 -606 -788 -833 -1 091 -1 287 -1 125 -589 -666 -887 -764 -732 -845 Others 135 -248 -155 -241 -228 -334 -235 OPERATIONAL FCF -919 495 273 512 1 376 177 -508 25 -3 716 2 007 1 670 1 084 597 827 1 083 Dividends received from Nissan 99 183 267 345 383 431 456 418 0 88 274 427 406 432 Dividends received from Volvo 0 77 77 208 120 158 477 258 81 0 38 47 Dividends received from Daimler 22 27 27 32 Dividends received from others excl; RCI 7 6 13 13 3 12 0 0 1 6 FCF -912 600 533 856 1 929 693 94 961 -3 028 2 088 1 758 1 419 1 077 1 260 1 547 DIVIDEND PAID 183 219 258 316 383 493 684 883 1 054 0 0 88 -402 -537 -542 BEFORE IFRS
  • 82. INVESTOR RELATIONS RENAULT PRESENTATION DECEMBER 2015 82 -919 495 273 512 1377 177 -508 25 -3716 2007 1670 1084 597 827 1083 738 -1256 -49 273 845 710 -162 51 -1012 -916 1275 457 -325 37 487 -4000 -2000 0 2000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Operational Free Cash Flow Operational Free Cash Flow excluding WCR evolution (million euros) A STRONGER FCF MANAGEMENT
  • 83. INVESTOR RELATIONS RENAULT PRESENTATION DECEMBER 2015 83 8,2 9,7 10,1 11,8 13,6 15,9 19,7 21,2 22,1 19,4 16,5 22,8 24,6 24,6 23,2 24,9 -2,7 -4,8 -3,9 -2,5 -1,7 -1,6 -2,3 -2,4 -2,1 -7,9 -5,9 -1,4 -0,3 1,5 1,8 2,1 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Shareholders' equity Automotive Net cash AUTOMOTIVE DIVISION FULLY DELEVRAGED (billion euros) Former GAAPs IFRS GAAPs
  • 84. INVESTOR RELATIONS RENAULT PRESENTATION DECEMBER 2015 84 RENAULT INVESTORS RELATION CONTACT Thierry Huon Investor Relations Director +33 1 76 84 53 09 thierry.c.huon@renault.com Nicolas Chaillan Investor Relations +33 1 76 83 05 13 nicolas.chaillan@renault.com Clémentine de Quatrebarbes Investor Relations +33 1 76 84 60 89 clementine.de-quatrebarbes@renault.com Investor relations internet site: http://group.renault.com/finance