Q Results Review. May 6, 2014

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1 Q Results Review 20 Novembre, 2010

2 Safe Harbor Statement Certain information included in this presentation, including, without limitation, any forecasts included herein, is forward looking and is subject to important risks and uncertainties that could cause actual results to differ materially. The Group s businesses include its automotive, automotive-related and other sectors, and its outlook is predominantly based on what it considers to be the key economic factors affecting these businesses. Forward-looking statements with regard to the Group's businesses involve a number of important factors that are subject to change, including, but not limited to: the many interrelated factors that affect consumer confidence and worldwide demand for automotive and automotive-related products and changes in consumer preferences that could reduce relative demand for the Group s products; governmental programs; general economic conditions in each of the Group's markets; legislation, particularly that relating to automotive-related issues, the environment, trade and commerce and infrastructure development; actions of competitors in the various industries in which the Group competes; production difficulties, including capacity and supply constraints, excess inventory levels, and the impact of vehicle defects and/or product recalls; labor relations; interest rates and currency exchange rates; our ability to realize benefits and synergies from our global alliance among the Group s members; substantial debt and limits on liquidity that may limit our ability to execute the Group s combined business plans; political and civil unrest; earthquakes or other natural disasters and other risks and uncertainties. Any of the assumptions underlying this presentation or any of the circumstances or data mentioned in this presentation may change. Any forward-looking statements contained in this presentation speak only as of the date of this presentation. We expressly disclaim a duty to provide updates to any forward-looking statements. Fiat does not assume and expressly disclaims any liability in connection with any inaccuracies in any of these forward-looking statements or in connection with any use by any third party of such forward-looking statements. This presentation does not represent investment advice or a recommendation for the purchase or sale of financial products and/or of any kind of financial services. Finally, this presentation does not represent an investment solicitation in Italy, pursuant to Section 1, letter (t) of Legislative Decree no. 58 of February 24, 1998, as amended, nor does it represent a similar solicitation as contemplated by the laws in any other country or state. 2

3 Q1 14 Executive summary Worldwide shipments up 9% over prior year to 1.1M units Growth in NAFTA, APAC and EMEA more than offsetting contractions in LATAM Key financial metrics Revenues at 22.1B Trading profit at 622M EBIT at 47M Net loss of 319M (excl. unusual items, net profit of 71M) Net industrial debt at 10B Total available liquidity at 20.8B Refinancing and prepayment of VEBA Trust Note in full Chrysler prepaid all amounts outstanding under the VEBA Trust Note, including accrued and unpaid interest, totaling ~U.S.$5.0B with prepayment financed by Chrysler through New Senior Credit Facilities: a U.S.$250M additional term loan under Chrysler s existing tranche B term loan facility and a new U.S.$1.75B term loan credit facility (maturing on May 24, 2017 and Dec 31, 2018, respectively) Secured Senior Notes due 2019: issuance of an additional U.S.$1.375B aggregate principal amount of 8% secured senior notes due June 15, 2019, at an issue price of % of aggregate principal amount; and Secured Senior Notes due 2021: issuance of an additional U.S.$1.380B aggregate principal amount of 8.25% secured senior notes due June 15, 2021 at an issue price of % of aggregate principal amount Pre-tax interest expense benefit of $130M per year Transaction in debt capital markets Fiat issued a 1B bond (4.75% fixed coupon) in March Group 2014 guidance is confirmed Revenues of ~ 93B Trading profit in B range Net profit of ~ B (EPS ), excl. unusual items Net industrial debt in B range 3

4 Q1 14 financial highlights Net revenues ( M) Group revenues up 12% (17% at constant exchange rates) Growth in NAFTA, APAC and Luxury brands partially offset by reduction in LATAM while EMEA flat Luxury Brands nearly doubled in revenues, with Maserati posting a 4x increase over Q ,707 22, (319) Net result ( M) Net profit of 71M excluding unusual items, related to charge connected to execution of UAW MoU entered into by Chrysler ( 315M post tax charge) and Venezuelan Bolivar devaluation, down 7M over Q1 13 Net loss of 335m attributable to the owners of the parents vs. net loss of 83M a year ago Income taxes were a positive 127M (vs. 133M charge in Q1 13), reflecting the change in the result before taxes Q1 13 (1) Q1 14 Q1 13 (1) Q1 14 Trading profit ( M) Group trading profit down 1%, but up 6% on a currency adjusted basis Mass-market brands NAFTA: 380M (+3.2% margin) Dec Mar Net industrial debt ( B) Net industrial debt increased 0.3B excl. the acquisition of the remaining Chrysler equity ( 2.7B) and adoption of IFRS11 effective Jan 1, 2014 ( 0.4B) LATAM: 44M (+2.2% margin) APAC: 146M (+9.8% margin) EMEA: - 110M (-2.5% margin) Luxury Brands: 139M (+11.5% margin) Components: 41M (+2.0% margin) 3.2% margin Q1 13 (1) 2.8% margin Q Reported Acquisition of remaining VEBA ownership interests in Chrysler and adjustment for retrospective application of IFRS11 EBIT ( M) Mass-market brands NAFTA: - 117M LATAM: - 49M APAC: 135M EMEA: - 72M Liquidity ( B) A 1.9B decrease over Dec 2013, mainly reflecting change in net debt and new bond issuances of 1B Cash neutral transactions for Chrysler s refinancing of VEBA Trust Note Luxury brands: 139M Components: 42M Q1 13 (1) Q1 14 Dec Mar (1) Adjusted for the retrospective application of IFRS 11: Revenues 50M, Trading Profit + 13M, EBIT + 4M, Profit before Taxes + 4M, Net Profit unchanged Note: Graphs not to scale Undrawn committed credit lines Cash & Mktable Securities 4

5 Q1 14 financial highlights Performance by segment MASS-MARKET BRANDS NAFTA LATAM APAC EMEA Luxury Brands EBIT before unusuals Q1 13: 397M Q1 14: 380M MASS-MARKET BRANDS EBIT before unusuals Q1 13: 186M Q1 14: 44M (117) (49) (107) (72) NAFTA LATAM (1) APAC EMEA Luxury Brands Q Q Components 42 Components (0.7) (0.7) Other & Eliminations EBIT before unusuals Q1 13: 655M Q1 14: 654M (21) (31) Other & Eliminations Fiat Group Fiat Group Group revenues up 12% (+17% at constant FX rates) Higher volumes driving 17% growth in NAFTA (+22% at constant FX rate) and 52% in APAC (+60% at constant FX rate) LATAM down 20% (-5% at constant FX rate) EMEA flat vs. Q1 13 Luxury brands up 76% driven by a four-fold increase at Maserati on strength of new models Components up 7%, driven by Magneti Marelli and Comau Group EBIT excl. unusuals flat year-over-year Excluding unusuals, NAFTA: -4%, LATAM: -75% APAC: +39% EMEA: +33% Luxury Brands: +83% Components: +20% (1) Adjusted for the retrospective application of IFRS11: Revenues - 50M for the Group, + 14M for APAC, - 23M for EMEA. - 41M for Eliminations and Adjustments. EBIT + 4M for the Group, - 1M for APAC, + 4M for EMEA, + 1M for Eliminations and adjustments Note: Graphs not to scale; Numbers may not add due to rounding 5

6 Q1 14 From trading profit to net result M (unless otherwise stated) Fiat Group Q1 14 Q1 13 (1) Worldwide total shipments (Units 000) 1,113 1,020 Net Revenues 22,125 19,707 Trading Profit % of revenues % Investment income, net % EBIT BEFORE UNUSUALS Unusual items, net (608) (47) EBIT EBITDA 1,215 1,673 Financial charges, net (493) (443) Pre-tax result (446) 164 Taxes 127 (133) Net result (319) 31 Net result excl. unusuals (1) Adjusted for retrospective application of IFRS11: Revenues decreased by 50M, Trading Profit increased by 13M, EBIT increased by 4M, Profit before Taxes increased by 4M 6

7 Q1 14 net industrial debt walk M Change in Net Industrial Debt (291) Cash Flow from operating activities, net of Capex (102) (6,649) 1,790 (2,691) (365) (9,705) (1,443) (478) 274 (245) (189) (9,996) Dec 31, 2013 Acquisition cost of remaining VEBA ownership interest in Chrysler IFRS 11 adoption Dec 31, 2013 (Adjusted) Industrial EBITDA (ex unusuals) Capex Financial charges (*) & Taxes Change in funds & others Working capital Scope, FX & Dividend Mar 31, 2014 Net of acquisition cost of remaining VEBA ownership interest in Chrysler and impact from adjustment for retrospective application of IFRS11, a 0.3B increase in net industrial debt in Q (a 0.5B cash absorption a year ago) Cash flow from operations almost fully covering capital expenditures for the period (*) Excluding IAS19 Numbers may not add due to rounding 7

8 APPENDIX

9 Supplemental financial measures Fiat Group monitors its operations through the use of various supplemental financial measures that may not be comparable to other similarly titled measures of other companies. Accordingly, investors and analysts should exercise appropriate caution in comparing these supplemental financial measures to similarly titled financial measures reported by other companies. Fiat Group management believes these supplemental financial measures provide comparable measures of its financial performance based on normalized operational factors, which then facilitate management s ability to identify operational trends, as well as make decisions regarding future spending, resource allocations and other operational decisions. Fiat Group s supplemental financial measures are defined as follows: Trading Profit (Loss) is computed starting with Net Revenues less operating costs (cost of sales, SG&A, R&D costs, other operating income and expenses) Earnings Before Interest, Taxes ( EBIT ) is computed starting from Trading profit (loss) and then adding restructuring costs, other income/expenses that are unusual in the ordinary course of business (such as gains and losses on the disposal of investments) and the Result from investments Earnings Before Interest, Taxes, Depreciation and Amortization ( EBITDA ) is computed starting with EBIT and then adding back depreciation and amortization expense Net Industrial Debt is computed as debt plus other financial liabilities related to Industrial Activities less (i) cash and cash equivalents, (ii) current securities, (iii) current financial receivables from Group or jointly controlled financial services entities and (iv) other financial assets. Therefore, debt, cash and other financial assets/liabilities pertaining to Financial Services entities are excluded from the computation of Net Industrial Debt 9

10 Mass-market brands Highlights FINANCIAL PERFORMANCE Continued industry growth (U.S. & Canada) and Group s new products supportive of higher vehicle sales Revenues up 17% (+22% in USD terms) on higher shipments Q1 trading profit down 4% (flat in USD terms) Net of FX impacts, there was flat performance for Q1 as increased volumes were offset by higher D&A, R&D expenses and costs related to the recent recall campaigns Trading margin at 3.2% Q1 EBIT negative for 117M due to unusual items 491M expense recognized in connection with the execution of the UAW Memorandum of Understanding entered into by Chrysler on January 21st TOTAL NAFTA Q1 14 Q1 13 Shipments (k units) Revenues ( M) Trading Profit ( M) EBIT ( M) ,732 10, (117) 400 COMMERCIAL PERFORMANCE & HIGHLIGHTS Q1 shipments up 15% y-o-y driven by new Jeep Cherokee, Ram pickup and Dodge Journey U.S.: 493k vehicles, up 17% vs. prior year Canada: 72k vehicles, up 4% Mexico & other: 20k vehicles, down 4% Q1 vehicle sales up 9% to 556k vehicles, above the market in both U.S. (+11%) and Canada (+5%) U.S. & Canada combined sales Jeep (+44%), Ram (+23%) and Fiat (+19%) thanks to new Jeep Cherokee, Ram 1500 pickup and new Fiat 500L Chrysler (-10%) and Dodge (-8%) brands down partially due to reduced Chrysler 200 / Dodge Avenger sales as all-new Chrysler 200 being readied for production U.S. dealer inventory at 71 days supply 10

11 Mass-market brands EBIT walk B 427 (62) 400 (366) Q1 13 Volume Net price Industrial & Mix costs (46) (470) SG&A Investments / FX / Other (117) Q1 14 Volume increase of 75k vehicle shipments, primarily related to new Jeep Cherokees and Ram Pickups Positive mix primarily reflecting higher retail volumes and lower fleet volumes Negative net price reflecting competitive pressures in the markets Industrial costs impacted by cost of vehicle content enhancements on newly launched products, higher D&A and R&D, and costs for recall campaigns SG&A costs primarily reflects higher advertising costs Other primarily reflects 491M expense recognized in connection with the execution of the UAW Memorandum of Understanding entered into by Chrysler on January 21st 11

12 Mass-market brands Market trends & business dynamics Q1 INDUSTRY VOLUME & OUTLOOK (M UNITS) QUARTERLY MARKET SHARE (%) 15.0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q Q3 Q4 Q U.S. Q1 14 industry up 1.5% vs. prior year Cars -4%; trucks +7% Q1 14 Group sales up 11% vs. prior year March 2014 being the 48 th consecutive month of year-over-year sales gains Jeep brand posted best sales month ever in March (+47% over prior year) Ram pickup truck sales best March in 10 years Q1 14 market share up 110 bps, driven by 19% increase in retail sales Fleet mix down to 23% from 28% in prior year Retail of retail market share * up 160 bps to 12.0% All-new Jeep Cherokee contributes 36k vehicles CANADA Q1 14 industry up 1% vs. prior year Cars -8%; trucks +7% Q1 14 Group sales up 5% vs. last year Market leader for the quarter 52 months of year-over-year sales gains in March Best Q1 sales since 2000 Q1 sales records for Jeep and Ram Truck brands Market share up 60 bps vs. prior year * Company calculation: retail sales (excl. fleet) vs. industry retail sales (excl. fleet) 12

13 Mass-market brands Highlights FINANCIAL PERFORMANCE Overall industry in the region down 3% to 1.3M units Revenues down 20% (-5% net of unfavorable currency effects) Trading profit down 142M due to input costs inflation, lower volumes, poor business conditions in Venezuela and negative currency translation impact Trading margin at 2.2% EBIT performance impacted by ~ 100M Venezuela bolivar devaluation COMMERCIAL PERFORMANCE & HIGHLIGHTS TOTAL LATAM Q1 14 Q1 13 Shipments (k units) Revenues ( M) Trading Profit ( M) EBIT ( M) ,965 2, (49) 127 Total group shipments at 205k down 11% Brazil: 171k units, a 10% decline compared with exceptionally strong performance in Q1 2013, particularly in A/B segments, benefiting from increased demand driven by government tax sales incentives in Brazil Argentina: 25k units (-13%), reflecting general weaker trading conditions and local currency devaluation impacting imports Other LATAM markets: 9k units (-13%) reflecting conditions in Venezuela Company and dealer inventory levels at ~30 days of supply at quarter-end in line with prior year 13

14 Mass-market brands EBIT walk M Negative volume, reflecting decline in Brazil, Argentina and Venezuela partially offset by better product mix in Brazil (22) Better net price due to pricing actions in Brazil associated with new product launches (132) 3 (58) (49) Industrial costs impacted by adverse FX on imported materials, input cost inflation as well as Pernambuco plant start-up costs Q1 13 Volume Net price Industrial & Mix costs SG&A Investments FX / Other Q1 14 SG&A mainly reflecting reduction in advertising expenses Other mainly relates to currency devaluation in Venezuela 14

15 Mass-market brands Market trends & business dynamics 0.2 INDUSTRY VOLUME & OUTLOOK (TOTAL LATAM; M UNITS) 1.3 Passenger cars Q1 '13 Q1 '14 LCVs QUARTERLY MARKET SHARE (PASSENGER CARS & LCVS; %) Q Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q REGIONAL OVERVIEW Brazil Overall industry down 2% to 776k, mainly reflecting first step in the return to preincentive IPI tax rates with an increase of 1 to 2 percentage points Q share in line with prior year and 270 bps higher than Q Group maintained leadership in Brazilian market Q1 share representing a 490 bps lead over the nearest competitor Group products continued their strong performance Combined A/B segment share at 24.3% A 17% jump in sales for Grand Siena Strada and New Fiorino up 42% and 64%, respectively, thanks to refreshed model launches Argentina Industry down 12% to 211k units with Group sales down 5% to 28k A 100 bps share gain on the back of strong performance of Punto (+40% over prior year) 15

16 Mass-market brands Highlights FINANCIAL PERFORMANCE TOTAL APAC Q1 14 Q1 13 (1) Shipments (k units) Revenues ( M) Trading Profit ( M) EBIT ( M) , (1) Adjusted for retrospective application of IFRS11: Revenues + 14M, trading profit + 5M, EBIT - 1M Note: APAC industry reflects aggregate for key markets where Group competes (China, India, Australia, Japan, South Korea) Strong overall demand in the region (+12%) with continued growth in China, Japan and South Korea, partially offset by slight demand contraction in India and Australia Revenues up 52% (+60% at constant exchange rates) Shipments up 69% driven by Jeep, Fiat and Dodge brands Trading profit up 39% versus Q Increase primarily driven by higher volumes, partially offset by increased industrial and SG&A expenses to support expansion in the region Trading margin remained strong at 9.8% Trading profit improvement not fully reflected in EBIT (+39% vs. a year ago) due to industrialization costs incurred by Chinese joint venture COMMERCIAL PERFORMANCE & HIGHLIGHTS Retail sales (incl. JVs) up 54% to 59k vehicles Jeep (47% of total Group sales in APAC) up 28% vs. prior year Fiat brand volumes +94% driven by Fiat Viaggio in China and Fiat Punto in India Jeep Cherokee and Fiat Ottimo launched in China during first quarter Increased penetration of Fiat brand in India, outpacing a slightly contracting market down 4% 16

17 Mass-market brands EBIT walk M 165 (17) (40) 97 Q1 13 (1) Volume Net price Industrial & Mix costs (47) (23) SG&A Investments / FX / Other 135 Q1 14 Improvement of Volume/Mix reflecting higher shipments Net pricing impacted by increasingly competitive environment, particularly in China Industrial costs impacted by higher R&D and fixed manufacturing costs for new product initiatives and higher production volumes Increased SG&A expenses to support volume growth and new product launches Other primarily reflects unfavorable FX impact (1) Adjusted for retrospective application of IFRS11 (- 1M) 17

18 Mass-market brands Market trends & business dynamics INDUSTRY VOLUME 1 (PASSENGER CARS & LCVS; M UNITS) 1.4% 0.84% Q1 '13 Q1 '14 QUARTERLY MARKET SHARE (PASSENGER CARS & LCVS; %) 1.9% 0.66% 0.26% 0.33% 0.25% 0.26% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q % 0.58% 0.27% 0.14% 0.34% Q2 Q3 Q4 Q % 0.80% 0.62% 1.Reflects aggregate for key markets where Group is competing (i.e. China, India, Australia, Japan, South Korea) 2014 REGIONAL OVERVIEW Group sales (incl. JVs) up 54% outperforming industry (+12%) driven by strong performance in China and India CHINA Group sales up 58% in an industry growing 13% Share gain of 23 bps from Fiat Viaggio, Dodge Journey and continued growth of Jeep brand Launch of Fiat Ottimo, Jeep Cherokee in Q AUSTRALIA Group sales up 25% outperforming in a slightly contracting market (-2%) Posted a 85 bps share gain vs. Q Fiat, Alfa Romeo and LCVs sales up ~2x from a year ago INDIA Sales at ~3x last year s level with continued ramp-up under newly established, wholly-owned and growing distribution network, outpacing in an industry down 4% Share gain of 48 bps over prior year Launch of Fiat New Linea in Q JAPAN Group sales up 52% with market up 21% due to anticipated consumption tax increase starting Apr. 1, 2014 SOUTH KOREA Sales up 12% outperforming industry up 7% 18

19 Mass-market brands Highlights FINANCIAL PERFORMANCE EU28+EFTA industry posted the 3 rd consecutive quarterly year-over-year gain, with all major markets in positive territory Italy grew, after 10 consecutive quarters of decline Q1 revenues slightly up on the back of 6% growth in shipments volume Trading loss for the quarter reduced by 40M Improvement driven by better volumes, better product mix and industrial efficiencies Q1 EBIT loss reduced by nearly a third TOTAL EMEA Q1 14 Q1 13 (1) Shipments (k units) Revenues ( M) Trading Profit ( M) EBIT ( M) ,341 4,327 (110) (150) (72) (107) (1) Adjusted for retrospective application of IFRS11: Revenues - 23M, Trading profit + 7M, EBIT + 4M Improvement reflecting operating performance and better results from investments notwithstanding unfavorable FX impact of Turkish Lira COMMERCIAL PERFORMANCE & HIGHLIGHTS Overall shipments up 14k units, or +6% Passenger cars: a 9k units increase to 204k units (+4%), mainly driven by performance in Italy LCVs: higher shipments in line with industry volumes (up 5k units or +9% to 55k units) Strict management of supply and demand function Company & dealer inventories stable at ~2-months supply 19

20 Mass-market brands EBIT walk M (107) 33 (41) (24) (72) Positive impact from volume increase and better mix driven by performance of Fiat 5oo family and Ducato Price pressure continuing Improvement in industrial costs driven by WCM program efficiencies & purchasing savings partially offset by higher R&D amortization & startup costs Q1 13 (1) Volume Net price Industrial & Mix costs SG&A Investments / Q1 14 FX / Other Continued implementation of cost containment actions in SG&A spending, mainly related to reduced advertising (1) Adjusted for retrospective application of IFRS11 (decreased by 4M) 20

21 Mass-market brands Passenger cars: market trends & business dynamics INDUSTRY VOLUME & OUTLOOK (M UNITS) EU28+EFTA EU28+EFTA Q1 QUARTERLY MARKET SHARE (%) Q2 Q3 Q4 Q Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q EU28+EFTA Q1 industry up 8% Higher Q1 since 2010 Among major markets, growth primarily driven by A double-digit performance in UK (+14%) & Spain (+12%) Single digit growth in Italy (+6%), Germany (+6%) and France (+3%) Other countries up 9% in aggregate Q1 Group sales up 2% to 202k units Share in Italy down 90bps as a result of brand repositioning strategy and greater focus on retail sales Q1 share in EU28+EFTA at 6.0% Share gains in fastest recovering markets UK: +20 bps at 3.2% Spain: up 50 bps at 4.3% Outside Italy share at 3.2% Share performance in certain countries, primarily Germany, impacted by network re-organization process (started Q1 14) 21

22 Mass-market brands LCVs: market trends & business dynamics INDUSTRY VOLUME & OUTLOOK (M UNITS) EU28+EFTA EU27+EFTA EU28+EFTA 46.9 Q1 QUARTERLY MARKET SHARE * (%) Q2 Q3 Q4 Q Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q * Due to unavailability of official data for the LCV market since Jan 2011, figures reported beyond that date are an extrapolation. Therefore, marginal discrepancies versus actual data may exist Q1 industry up 9% in EU28+EFTA to 412k units with mixed trend among the major markets All majors markets up, except France Spain: +39% Italy: +17% UK: +15% Germany: +6% France: -1% Group sales in EU28+EFTA up 7% to 47k units Fiat Professional share down 30 bps as a result of unfavorable market mix and seasonality in fleet renewal in France Italy: 80 bps share gains to 44.3% UK: +70 bps to 5.2% Share loss in Germany (-100 bps, mainly driven reduced fleet sales) and France (-150 bps) Spain: share substantially flat Ducato at top of its segment (25k units sold) with 20% market share and more than 300 bps gap vs. its nearest competitor 22

23 Luxury brands Q1 revenues up 13% to 620M Shipments of street cars down 6% to 1,699 units (including 28 units of LaFerrari), reflecting strategy of managing restricting volumes to preserve brand s exclusivity 12-cyl models up 37% driven by the success of F12 Berlinetta and FF 8-cyl models down 19%, pending launch of new California T in Q2 but with a good performance of the new 458VS North America (+8%) remained #1 market Top-5 European markets down 10% Double-digit growth in Japan China flat with temporary decreases in Hong Kong and Taiwan expected to pick up in H2 EBIT stable at 80M Improved sales mix compensated for lower volumes Revenue 4x higher to 649M Shipments of 8,041 units (vs. 1,304 units in Q1 13) reflecting volume growth in all markets driven by Quattroporte and Ghibli, both launched in 2013 North America: 2.6k units (vs. 0.5k in Q1 13); #1 markets China: 2k units (13x vs. last year volumes); #2 market Europe: 1.7k units (7x last year s levels) EBIT at 59M A 63M swing in trading profit reflecting volume increase and continued cost discipline Trading margin at 9.1% USA 29% European Top-5 32% North America 32% European Top-4 15% Japan 4% Japan 8% China 25% Others 6% China, Hong Kong & Taiwan 25% Others 24% 23

24 Components 1,469 1, Q1 13 Q1 14 Q1 13 Q1 14 Note: graphs not to scale Operational Highlights NAFTA, China and Europe all positive Benefits from a slight improvement in Brazil nulled by weakening of local currency Order intake up 27% to nearly 600M (6) (5) Q1 13 Q1 14 Q1 13 Q1 14 Note: graphs not to scale Revenues down 6% (up 6% on constant scope of operations) Cast Iron business unit up 9% in volume (continuing ops), with positive performance in Mexico more than compensating for a decrease in Brazil Aluminum business unit up 24% in volume EBIT performance nearly flat vs. Q1 13 Revenues up 7% (+13% at constant exchange rates) Lighting up 14% on the back of positive performance in Europe, NAFTA and China Electronic Systems up 11%, driven primarily by sales of telematics boxes and navigation systems to non-captive customers Powertrain flat at constant exchange rate, with slight growth in China and India offset by a contraction in Europe EBIT up 16% Higher revenues, cost containment actions and efficiencies achieved contributed to profitability expansion Trading margin improved 40 bps to 2.4% Q1 13 Q1 14 Q1 13 Q1 14 Note: graphs not to scale Revenues up 18% Increase attributable primarily to Body Welding business EBIT in line with Q1 13 Order backlog at nearly 1B, -2% over year-end

25 Business environment overview Group shipments (excl. JVs) (units in thousands) (units in M) Luxury APAC >0.2 9% 1.0 LATAM ~ ,020 3 Luxury +385% APAC +69% 1, LATAM -11% NAFTA ~ NAFTA +15% EMEA +5% EMEA ~1.0 Q1 13 Q1 14 FY 13 FY 14 Note: Numbers may not add due to rounding; Graphs not to scale 25

26 Business environment overview Market outlook (M units) NAFTA LATAM APAC EMEA (*) ~27 EU28+EFTA FY '13 FY '14E U.S.: Q1 seasonally adjusted annualized volumes (16.0M) supportive of company outlook for FY 2014 industry volume Canada trending in line with industry volume expectations to par with prior record year Passenger cars LCVs LATAM market in 2014 expected to perform in line with prior year Brazilian industry in line with prior year Argentina industry to decline double-digit due to import restrictions and higher sales tax on high-end segments FY '13 FY '14E Industry projected up 5% Improvement driven by China, India, South Korea and Australia offset by contraction in Japan Group targeting to increase ~70% in retail sales (incl. JVs) Growth driven primarily by Fiat, Jeep and Dodge brands FY '13 Passenger cars FY '14E LCVs Slightly improved outlook for the aggregate demand of passenger cars and LCVs vs. prior expectations Passenger Cars EU28+EFTA: +3% Italy and Germany +4% France stable LCVs EU28+EFTA now projected to prior level s Italy expected to post a 4% increase Note: APAC reflects aggregate for key markets where Group competes (i.e. China, India, Australia, Japan, South Korea) 26

27 Debt maturity schedule ( B) Outstanding Mar. 31, 14 Fiat Group 9M Beyond 10.8 Bank Debt Capital Market Other Debt Total Cash Maturities Cash & Mktable Securities 3.0 Undrawn committed credit lines 20.8 Total Available Liquidity 3.8 Sale of Receivables (IFRS de-recognition compliant) 2.2 of which receivables sold to financial services JVs (FGA Capital) Note: Numbers may not add due to rounding; total cash maturities excluding accruals 27

28 Contacts GROUP INVESTOR RELATIONS TEAM Marco Auriemma Vice President Maristella Borotto Francesca Ferragina Timothy Krause Paolo Mosole fax: websites:

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