#1PSA BANQUE FRANCE presentation April 2017 www.psa-banque-france.com PSA BANQUE FRANCE#2Disclaimer PSA Banque France Group (the "Company") cautions that this presentation contains forward-looking statements. These forward-looking statements are found in various places throughout this presentation and include, without limitation, statements concerning our future business development and economic performance. While these forward-looking statements represent our judgment and future expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to: (1) general market, macro-economic, governmental and regulatory trends; (2) movements in local and international securities markets, currency exchange rates and interest rates; (3) competitive pressures; (4) technological developments; and (5) changes in the financial position or credit worthiness of our customers, obligors and counterparties. The risk factors that we have indicated in our past and future filings and reports, could adversely affect our business and financial performance. Other unknown or unpredictable factors could cause actual results to differ materially from those in the forward-looking statements. Forward-looking statements speak only as of the date on which they are made and are based on the knowledge, information available and views taken on the date on which they are made; such knowledge, information and views may change at any time. The Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. The information contained in this presentation is subject to, and must be read in conjunction with, all other publicly available information, including, where relevant any fuller disclosure document published by the Company. Any person at any time acquiring securities must do so only on the basis of such person's own judgment as to the merits or the suitability of the securities for its purpose and only on such information as is contained in such public information having taken all such professional or other advice as it considers necessary or appropriate in the circumstances and not in reliance on the information contained in the presentation. In making this presentation available, the Company gives no advice and makes no recommendation to buy, sell or otherwise deal in shares in the Company or in any other securities or investments whatsoever. Neither this presentation nor any of the information contained therein constitutes an offer to sell or the solicitation of an offer to buy any securities. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. Nothing contained in this presentation is intended to constitute an invitation or inducement to engage in investment activity for the purposes of the prohibition on financial promotion in the U.K. Financial Services and Markets Act 2000. Note: Statements as to historical performance or financial accretion are not intended to mean that future performance, share price or future earnings (including earnings per share) for any period will necessarily match or exceed those of any prior year. Nothing in this presentation should be construed as a profit forecast. The businesses included in each of our geographic segments and the accounting principles under which their results are presented here may differ from the included businesses and local applicable accounting principles of our public subsidiaries in such geographies. Accordingly, the results of operations and trends shown for our geographic segments my differ materially from those of such subsidiaries. 1 2 Debt Investor Presentation - April 2017 PSA BANQU FRANGE#31 2 PSA Banque France Group presentation Business overview 3 Financial policy and funding 4> Appendix PSA 1 3 Debt Investor Presentation - April 2017 BANQU FRANGE#4Introduction PSA Banque France within PSA Group A global car manufacturer with over two centuries of history Long expertise in the auto financing industry 1810 CREATION OF PEUGEOT FRÈRES COMPANY 1919 CREATION OF CITROËN 1919 CITROEN FIRST FINANCING PRODUCTS 1929 PEUGEOT FIRST FINANCING PRODUCTS 2015 PARTNERSHIP WITH SCF(1) 1965 SOFIB INCORPORATION 1982 BPF (1) INCORPORATION GROUPE IN FRANCE 2015 OFFICIAL LAUNCH OF DS AUTOMOBILES 2016 PSA CAR MANUFACTURING (1) BPF Banque PSA Finance. SCF: Santander Consumer Finance | 4 2016 PSA BANQUE AUTO FINANCING INDUSTRY Debt Investor Presentation - April 2017 FRANCE PSA BANQU FRANGE#5Overview Feb 15 BPF & SCF COOPERATION IN FRANCE FINANCIAL SUPPORT OF SCF Jul PSA BANQUE FRANCE 16 NEW CORPORATE NAME 29.2% NEW CAR PENETRATION RATE (1) 9.2€bn OUSTANDING LOANS (1) (END USERS & DEALERS) Jan 17 FIRST EMTN ISSUANCE €500M - 3 YEAR MATURITY March RATING UPGRADE 17 Baa1/P2/STABLE OUTLOOK (MOODY'S) 2.3x INSURANCES & SERVICES PER NEW CONTRACTS 1.6€bn NET RETAIL DEPOSITS AMOUNT COLLECTED (1) (1) December 2016 15 Debt Investor Presentation - April 2017 PSA BANQU FRANGE#6Timeline I PSA Banque France Group Recent developments Funding sources diversification 02/14 Exclusive negotiation between SCF & BPF (1) 07/14 Framework agreement (partnership covering 11 countries) 01/14 01/15 04/14 "BACK IN THE RACE" plan 01/15 Acquisition of SOFIRA & CREDIPAR by PSA Banque France 04/15 DISTINGO (2) French activity transferred to PSA Banque France O+ 11/16 Debt investor roadshow 03/17: Rating upgrade to Baa1 01/16 01/17 12/15 Inaugural rating delivered by Moody's 01/17 First EMTN issuance 05/15 Absorption merger of SOFIRA by CREDIPAR 02/15 PSA Banque France Group Formalized cooperation after ECB's authorization Financial support of BPF (until 02/15) Financial support of SCF (02/15) Securitizations (02/15) DISTINGO (2) activity (04/15) Bilateral credit lines (06/15) Constitution of HQLA (07/15) Participation in TLTRO-I (09/15) Participation in TLTRO-II (06/16) Issuance of NEU CP (06/16) Issuance of NEU MTN (07/16) (1) (2) SCF Santander Consumer Finance. BPF : Banque PSA Finance DISTINGO is the online retail saving business in France 16 Debt Investor Presentation - April 2017 Issuance of first EMTN (01/17) PSA BANQU FRANGE#7PSA Banque France Group since 2015 | Joint-venture with SCF in France BPF(1), historical shareholder SCF(2) provides financial support PSA GROUPE BANQUE PSA FINANCE 50% Santander 50% CONSUMER BANQUE PSA BANQUE FRANCE (3) COMPAGNIE GÉNÉRALE DE 100% CRÉDIT AUX PARTICULIERS CREDIPAR COMPAGNIE POUR LA 100% LOCATION DE VÉHICULES CLV (1) Banque PSA Finance is held at 100% by PSA Group Santander Consumer Banque is held at 100% by SCF (Santander Consumer Finance) (3) PSA Banque France is a credit institution approved under the supervision of ECB regulator since December 2015 while continuing to send the required information to the French regulator, the Autorité de Contrôle Prudentiel et de Résolution (ACPR) | 7 Debt Investor Presentation - April 2017 PSA BANQU FRANGE#818 Debt Investor Presentation - April 2017 PSA BANQU FRANGE#9PSA Banque France Group presentation 2 Business overview 3 Financial policy and funding 4> Appendix PSA 19 Debt Investor Presentation - April 2017 BANQU FRANGE#10French new car registrations (2016/2015) 22.3% Renault 507 16.6% 387 540; +6.4% 402; +3.8% 10.6% 257; -1.1% 260 6.7% VW 161; +0.6% 160 4.6% Dacia 112; +12.1% 100 4.3% Ford 105; +1.4% 103 PSA 4.1% Fiat 99; +14.6% GROUPE 87 3.4% Toyota 83; +7.9% 1 687,650 CARS (+1.4%) * 3.4% Mercedes 81; +10.5% 74 | 28.4% MARKET SHARE 3.3% Nissan 79+; -2.7% 81 1ST FRENCH MANUFACTURER 3,1% Opel 75; +6.1% 71 2.7% Audi 66; +10.3% 60 2.5% BMW 61; +12.9% 54 1.4% Kia 34; +15.6% 29 1.2% 29; -7.1% 1.2% Hyundai 28; +17.1% 24 MARKET SHARE ■2016 2015 * Global car market: 2 425 thousands cars (+ 5.6%) ■ PSA brands PSA Business overview I 10 Debt Investor Presentation - April 2017 BANQU FRANGE#11French new car registrations (2015/2014) 22.1% Renault 507; +7.5% 472 16.9% 387; +6.3% 364 11.3% 260; -0.9% 263 7.0% VW 160; +2.1% 157 4.5% Ford 103; +8.3% 95 4.4% Dacia 100; -5.5% 106 PSA 3.8% Fiat 87; +13.1% GROUPE 76 3.5% Nissan 81; +6.1% | 678,148 CARS (+2.9%) * 3.4% Toyota 77; +7.7% | 29.5% MARKET SHARE 3.2% Mercedes 74; 10.7% 1ST FRENCH MANUFACTURER 3,1% Opel 71; +6.2% 67 2.6% Audi 60; +3.9% 57 2.4% BMW 54; +12.4% 48 1.3% 31; -5.2% 1.3% Kia 29; +3.3% 28 1.1% Hyundai 24; +39.2% MARKET SHARE Business overview 2015 <-2014 ■PSA brands * Global car market: 2 297 thousands cars (+ 5.9%) PSA I 11 Debt Investor Presentation - April 2017 BANQU FRANGE#12Strength of business model | IMMANQUABLES PEUGEOT Proven track record over decades Resilience throughout the crisis Customer relationship at the heart of the strategy 308 SALES PSA FINANCING CAPTIVE COMPANY SUPPORT INSURANCE PRODUCTS AND SERVICES RISKS CONTROL RELATED TO END- USER CUSTOMERS AND DEALERS FINANCING STRONG CAPITAL BASE AND PROFITABILITY CONQUEST DEALERS & AGENTS LOYALTY END-USER CUSTOMERS Business overview I 12 Debt Investor Presentation - April 2017 308 ALLURE 249€/MOIS LOANS, LEASES 708 208 STYLE porthe 149 €/MOIS™ CAR, LIFE, UNEMPLOYMENT MAINTENANCE, WARRANTY EXTENSION PSABANQUE PASSBOOK SAVINGS ACCOUNT ÉPARGNE EN LIGNE DISTINGO PSA BANQU FRANGE#13Dedicated financial services | Partnership with the three brands of PSA Group Dedicated financial services partner to PEUGEOT, CITROËN & DS Broad range of products to cover end-user customers and dealers' needs END-USER CUSTOMER & FLEET OFFER LOANS LEASING WITH PURCHASE OPTION LONG TERM LEASES INSURANCE PASSBOOK & SERVICES SAVINGS ACCOUNT STOCK FINANCING BANKING ACTIVITY(1) OTHERS(2) DEALER & AGENT OFFER NEW & USED CARS, SPARE PARTS CURRENT ACCOUNT, OVERDRAFT FACILITY USED CARS STOCK, DEMO CARS, WORKING CAPITAL, TREASURY LOANS, PROPERTY LOANS (1) Dealers of the brands and used car traders under contract with a brand (2) Dealers only Business overview | 13 Debt Investor Presentation - April 2017 PSA BANQU FRANGE#14Positive business trend | Efficient commercial policy New vehicle 2016 penetration (1) increased to 29.2% with performance clearly up in the second half-year Diversified insurance and service offerings with a high added value 29,2% 2012 29,2% 603 519 627 776 636 302 573 828 547 658 28,4% 28,5% 28,1% 2013 2.30x 2.27x 2.20x 2.12x 2.10x 2014 2015 2016 2012 2013 Insurance & services volumes 2014 --New car penetration (1) (1) New car penetration rate defined as new vehicles financed over PEUGEOT, CITROEN & DS new registered vehicles Business overview I 14 Debt Investor Presentation - April 2017 2015 2016 -Number per new contract PSA BANQU FRANGE#15New financing and outstanding loans Positive trend for end-user customers & corporate dealers loan books +2.6% growth in the number of vehicles financed in 2016 Loan books breakdown end-users/corporate dealers: 67/33 Financed vehicles (in thousands) Loan books (EM) 281 276 255 257 269 9,225 8,570 7,991 8,087 8,255 77 76 75 71 72 55 3 016 2 587 2 231 2 437 2 461 204 184 185 193 201 5 983 5 760 5 650 5 794 6 208 2012 2013 2014 2015 2016 2012 2013 2014 ■New vehicles Used vehicles End-users Business overview | 15 Debt Investor Presentation - April 2017 2015 2016 Corporate dealers PSA BANQU FRANGE#16Income statement I Results of operations Improved recurrent results Lower refinancing cost 419 403 409 165 2014(1) 2015 Net banking income (ЄM) 2016 2014(1) 149 132 2015 Net income (EM) (2) (1) 2014 including 0.1€bn relating to the retrospective increase of commission rates on services (2) 2016, Operating expenses: -155€M; cost of risk: -20€M; other non-operating income -0.02€M; pre-tax income 244€M; income tax : -95€M 2015, Operating expenses: -150€M; cost of risk: -61€M; other non-operating income -7€M; pre-tax income 191€M; income tax : -59€M 2014, Operating expenses -130€M; cost of risk: -50€M; other non-operating income -11€M; pre-tax income 212€M; income tax : -47€M Business overview I 16 Debt Investor Presentation - April 2017 2016 PSA BANQU FRANGE#17Risk policy & cost of risk | SCF principles applied Oversight risk covering Cost of risk contained 90% 87% 77% 70% 0.70 0.77 0.63 RISK OVERSIGHT 0.24 57 50 61 20 2013 2014 Cost of Risk 2015 % ANR 2016 NPL Coverage(1) RISKS Credit risk model • Fleet with an outstanding > 500€k Brands Network (dealers, agents) CORPORATE RISK Transversal, consolidated and global vision of the PSA Banque France's risks (credit, operational, counterparty) RETAIL RISK Credit risk model for end-users (individuals and companies with an outstanding 500€k) (1) NPL Coverage: coverage rate of non-performing loans by provisions. 2016 : 210€M NPL (2.5%); 2015: 252€M NPL (3.1%); 2014: 284€M (3.6%); 2013: 340€M (4.2%). Business overview Debt Investor Presentation - April 2017 | 17 PSA BANQU FRANGE#18Solvency I Solid balance sheet structure Adequate Capital Adequacy Ratio Strong leverage ratio (1) in million euro 13.3 CAR (12.6 645 220 240 12 000 10 000 8 000 6.000 LEV 9.0 8.4 4000 2000 6 377 886 884 886 884 0 2015 2016 RWA Credit Risk ■CET1 RWA IRWA Operational Risk 2015 HQLA 2016 2015 2016 Loans & Other assets ■Equity Exposure values (1) PSA Banque France already complies with Basel III requirements for the leverage ratio (3%) effective from 2018 Business overview I 18 Debt Investor Presentation - April 2017 PSA BANQU FRANGE#19PSA Banque France Group presentation 2 Business overview 3 > Financial policy and funding 4> Appendix I 19 Debt Investor Presentation - April 2017 PSA BANQU FRANGE#20I Refinancing Diversification of funding sources In addition to intragroup refinancing Access to Capital Markets since 2016 with the first EMTN issued in January 2017 Intra-group SCF: 3.7€bn 49% Intra-group SCF: 3.9€bn 48% 7.7€bn 8.2 €bn FUNDING FUNDING 2015 H1 2016 Capital Markets: Banking lines: 0.6€bn 7% Intra-group SCF: 3.1 €bn 37% 0.5€bn 6% 8.4 €bn Retail customer deposits (3): 1.6€bn 19% FUNDING Securitization (1): 1.5€bn 17% Other refinancing (2): 1.2€bn 14% Senior unsecured O Retail customer deposits Securitization Intra-group SCF Other refinancing 2019+ 2016 (1) Securitization includes all of the securitizations placed on the market (2) Of which refinancing through the ECB (2015 participation in TLTRO for a total of 600€M; 2016: 950€M) and dealer deposits (3) Business transferred from BPF to PSA Banque France on April 2015 (passbooks and term deposits) Financial policy and funding 1 20 Debt Investor Presentation - April 2017 PSA BANQU FRANGE#21Access to capital markets since 2016 Debt issuance programmes Since June 2016: PBFR <GO>, PSABFR <CORP> Bloomberg pages To support diversification of funding sources NEU NEU EMTN CP MTN 06/03/16 06/03/16 BANQUE DE FRANCE UPDATE ON 04/17 1.0 €bn MAXIMUM P2 SHORT TERM BANQUE DE FRANCE UPDATE ON 04/17 1.0 €bn MAXIMUM Baa1 LONG TERM 06/29/16 AMF VISA 03/27/17 SECOND SUPPL. 4.0 €bn MAXIMUM Baa1 LONG TERM EURONEXT PARIS LISTING 100 €K+1 €K DENOMINATION ENGLISH LAW NO GUARANTEE CROSS- DEFAULT NEGATIVE PLEDGE 01/04/17 FIRST EMTN ISSUANCE 500 €m 3 YEAR MATURITY Financial policy and funding I 21 Debt Investor Presentation - April 2017 PSA BANQU FRANGE#22Rating of PSA Banque France Group | Investment grade rating Inaugural rating of PSA Banque France Group on 12/23/15: Baa2 Upgraded on 03/08/17 to Baa1 (stable outlook) PSA GROUPE PSA BANQUE BANQUE PSA FINANCE FRANCE Santander CONSUMER FINANCE MOODY'S INVESTORS SERVICE P2 SHORT TERM A3 LONG TERM STABLE OUTLOOK UPDATED ON 03/08/17 MOODY'S INVESTORS SERVICE P2 SHORT TERM Baa1 LONG TERM STABLE OUTLOOK UPDATED ON 03/08/17 STANDARD & POOR'S A-2 SHORT TERM BBB+ LONG TERM STABLE OUTLOOK UPDATED ON 12/02/15 MOODY'S INVESTORS SERVICE P2 SHORT TERM A3 LONG TERM STABLE OUTLOOK UPDATED ON 02/22/16 Fitch Ratings F2 SHORT TERM A- LONG TERM STABLE OUTLOOK UPDATED ON 11/24/16 (1) Rating as of 03/08/17 Financial policy and funding 1 22 Debt Investor Presentation - April 2017 PSA BANQU FRANGE#23Securitization | A privileged tool as part of the funding strategy Launch of new Auto Asset Backed Securitization transactions on a regular basis Solid expertise over more than 10 years ECB additional drawing allowance (1) 0.4€bn ECB collateralized funding (1): 0.6€bn 2.1 €bn FUNDING + 0.4 €bn POTENTIAL Placed securitizations: 1.5€bn STAND ALONE ISSUANCES Auto ABS FCT - Compartment 2013-2 Auto ABS2 FCT - Compartment 2013-A Auto ABS3 FCT - Compartment 2014-1 WAREHOUSE STRUCTURES Loan Lease | Loan Auto ABS DFP Master Compartment France 2013 Auto ABS FCT French Loans Master | Wholesale Loan 2015 Auto ABS French Leases Master - Compartment 2016 | Lease ECB additional drawing allowance (1) 0.10€bn ECB collateralized funding (1): 0.95€bn FUNDING AND ADDITIONAL ECB ALLOWANCES (1) ECB/TLTRO operations collateralized by retained senior issuances Financial policy and funding 1 23 Debt Investor Presentation - April 2017 2.4€bn FUNDING Placed securitizations: 1.45€bn 2016 PSA BANQU FRANGE#24Retail deposits activity | Deposits as a stable source of diversification Activity in France transferred from BPF to PSA Banque France Group in April 2015 Saving products offered 100% online PSABANQUE ÉPARGNE EN LIGNE DISTINGO PASSBOOK SAVINGS ACCOUNT AND FIXED-TERM DEPOSITS +30% IN 2016 61,200 ACTIVE ACCOUNTS (47,100 IN 2015) 19% OF FINANCING SOURCES +41% 1 570 1 112 346 6 572 6 860 IN 2016 ■Passbook savings account □Term deposits 1.6 €bn OUTSTANDING ■Retail customer deposits Other funding sources Financial policy and funding 1 24 Debt Investor Presentation - April 2017 2015 2016 PSA BANQU FRANGE#25Liquidity management and reserve | Matching of maturities between assets and liabilities Financing with an original maturity of 12 months or more represent 50% of the total Average maturity of medium and long term financing raised in 2016: 2.5 years after TLTRO-II participations 122% LCR (12/31/16) 132 240 HQLA ZERO-RISK POLICY 88 (LEVEL 1) 2015 2016 ■Bons du trésor à Taux Fixe (BTF) ■Banque de France Deposit ECB decisions (12/09/15) (03/16/16) Expiry of the last BTF in portfolio (03/30/16) -0,10% -0,20% -0,30% -0,40% -0,50% -0,60% -0,70% Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 ECB vs OATS ECB Deposit rate OAT-1 year Financial policy and funding 1 25 Debt Investor Presentation - April 2017 PSA BANQU FRANGE#26PSA Banque France Group presentation 2 Business overview 3 Financial policy and funding 4> Appendix PSA 1 26 Debt Investor Presentation - April 2017 BANQU FRANGE#27Consolidated financial statements BALANCE SHEET Dec. 31, Assets 2015 Dec. 31, 2016 Dec. 31, Dec. 31, Equity and liabilities 2015 2016 Cash, central banks, post office banks 98 261 Financial liabilities 3 3 Financial assets 136 4 Deposits from credit institutions 4,773 4,638 Loans and advances to credit institutions 663 473 Amounts due to customers 1,370 1,826 Customer loans and receivables 8,255 9,225 Debt securities 1,542 1,967 Tax assets 3 2 Tax liabilities 275 269 Other assets 170 231 Other liabilities 284 423 Property and equipment 5 10 Equity 1,083 1,080 Total assets 9,330 10,206 Total equity and liabilities 9,330 10,206 INCOME STATEMENT Dec. 31, Dec. 31, 2015 2016 Net banking income 409 419 General operating expenses (150) (155) Cost of risk (61) (20) Operating income 198 244 Other non-operating income (7) 0 Pre-tax income 191 244 Income taxes (59) (95) Net income for the year 132 149 PSA Appendix 1 27 Debt Investor Presentation - April 2017 BANQU FRANGE