30 06 2020 FFP investor presentation Investing at your side towards sustainable growth
FFP AT A GLANCE A listed investment company A stable shareholding: 80% owned by 1929 Established in 1929 and listed since 1989 the Peugeot family group, ensuring continuity ESG ESG has always been at the heart of FFP A long term investment horizon and its integration has been formalized in 2020 A successful investment strategy Headquartered in Paris with a through equity in diversified assets London branch Key figures €4.5bn €488m Free float 20% Gross Asset Value Significant resources for an Shareholding with a limited leverage (1) ambitious development strategy: 80% c. €500m of undrawn credit 21% €3.5bn facilities (2) available, allowing for LTV NAV prompt execution 2 All figures as of 30/06/2020.
1 FFP strategic positionning 2 Governance & ESG policy 3 H1 2020 NAV & performance 4 Key events 5 Group financial profile 6 Covid-19 impact 7 Appendices
A WELL DEFINED BUSINESS MODEL An active minority A specific DNA: a professional investor with investor, family values, attached to its involved in governance industrial history structures A solid and long-term A responsible shareholder, shareholder able to support and finance the development of its investee companies over time A consistent investment strategy over time 4
STRATEGIC POSITIONING Groupe PSA Investments Direct shareholdings Private equity funds Co-investments Real estate 5
̶ ̶ FFP IS ONE OF THE 3 MAIN SHAREHOLDERS OF GROUPE PSA Groupe PSA Investments 28% (1) of Grou Gr oupe PSA (28 of the the GA GAV) V) A founding and core shareholder Fully engaged in the governance ◆ 2 board seats bpifrance 12,2% R. Peugeot for FFP MH. Peugeot-Roncoroni for EPF Dong Feng ◆ FFP chairs the Strategic Committee 12,2% Free float ◆ F. Banzet, CEO of FFP UK, is a non-voting member 63,4% FFP of the Board Peugeot 9,3% family group EPF 2,9% 12.2% Actively contributing to strategic decisions A resilient company ◆ Most profitable OEM worldwide in 2019 ◆ Stellantis : merger with FCA to create one of the ◆ Profitable automotive business in H1 2020 despite world’s largest players in the automotive industry the drop in volumes due to COVID-19 → Compelling industrial and strategic rationale ◆ Strong balance sheet (~€ 7bn auto net cash at → Strong financial logic (>5 bn€ annual synergies) 30/06/2020 before working capital reversal in H2 → Balanced governance and strong management team 2020) ◆ Opel/Vauxhall : acquisition of GM european operations to become the second largest player in Europe 6 (1) As at 30/06/2020.
A LONG-TERM INVESTMENT STRATEGY Groupe PSA Investments 34% (1) of Di Direct sha harehol oldin ings (34 of the the GA GAV) V) Constructive approach Long-term view Partnership with management Active shareholder > 10 years average holding duration Well-defined strategy European companies with Geography and sector Minority stakes international exposure diversification Strict selection process Stringent selection Extensive due diligence Pre-negotiated liquidity Structured and agile process before investing clause for private assets decision process 7 (1) As at 30/06/2020.
A LONG TERM INVESTMENT STRATEGY Groupe PSA Investments 37% (1) of Priv rivate equ equit ity fund funds, co co-in investments and and real eal es estate (37 of the the GA GAV) V) 9% 18% 10% Private equity funds Co-investments Real estate ◆ Regular commitments in LBO & ◆ Co-investments with private equity ◆ Direct real estate shareholdings growth funds in Europe and in the funds & other investment ◆ Real estate trough funds or co- US and growth funds in emerging companies investment with experienced team countries ◆ Across various geographies ◆ Core and value-added investments ◆ Active relationships with more than (Europe, US, Asia, Africa…) in France and abroad 35 General Partners Emerging 426 476 451 markets 30% 339 X4 X3 North 247 America 184 47% 181 Europe 135 132 23% 119 2016 2017 2018 2019 H1 2016 2017 2018 2019 H1 2020 2020 PE Valuation in M€ Real Estate Valuation in M€ 8 (1) As at 30/06/2020.
1 FFP strategic positionning 2 Governance & ESG policy 3 H1 2020 NAV & performance 4 Key events 5 Group financial profile 6 Covid-19 impact 7 Appendices
A STRUCTURED GOVERNANCE & A STRONG TEAM OF PROFESSIONALS Governance FFP’s leadership team Chairman Chief Executive Officer Robert Peugeot Bertrand Finet Executive Committee 8 4 1 Independent Non-family Family members member members Frédéric Sébastien Frédéric Thierry Sophie Banzet Coquard Villain de Poncheville Vernier-Reiffers CEO of Head of CFO General Deputy General 3 FFP UK Investments Counsel Counsel Managing Committee Committees Governance, Investments and Financial and Audit Appointments and Shareholdings Committee Remuneration Committee François Massut Marie Ahmadzadeh Guillaume Falguière Jean-Paul Lemonnier Committee Investment Director Investment Director Head of Private Equity Investment Director 10
ESG IS AT THE HEART OF WHAT WE DO ◆ Long-term approach of shareholding ◆ Systematic ESG due diligence on our investments Invest responsibly ◆ Long-term incentive plan for employees includes ESG criteria ◆ Ethics & compliance benchmark of all FFP shareholdings ◆ Board member in all our direct shareholding Support governance ◆ Active professional role in the Board and the different committees best practice ◆ Define vote policy in General Meeting ◆ Regular training for FFP representatives on governance best practice ◆ Environment : no-plastic policy : glass bottles and filtered water fountain Implement CSR ◆ Social : benefits in kind and profit sharing for FFP employees, company-wide trainings at FFP level ◆ Governance : efficient governance, with independent board members and 3 committees ◆ Philanthropy : supporting Demos, a charity supporting orchestra practice for children in need in the Doubs region, where the Peugeot family comes from Have a societal impact ◆ Ad hoc support : Notre Dame de Paris renovation, research against Covid-19 ◆ Investments triggered towards impact investing 11
EXPANDING OUR ESG FOOTPRINT SINCE 2016 2017 2019 ◆ Benchmark of ethics ◆ Responsible & compliance Investment Charter ◆ Formalization of our programmes of FFP’s ◆ Long term incentive ◆ CSR (Corporate strategic ◆ ESG operational investees plan for employees Social positionning steering committee includes ESG criteria ◆ Monitoring of the Responsibility) ◆ 2023 roadmap CSR indicators among questionnaires for FFP’s investees investees H1 2020 2016 2018 ◆ For each investment project, FFP includes ESG criteria into the investment lifecycle. Before investing, ESG due diligences are carried out, on a case-by-case basis, depending on the company’s profile. ◆ Review of our companies’ CSR main highlights ◆ FFP invested in several funds, which combine a positive impact on society and the environment with sustainable financial performance. 12
IN 2020 WE WE FORMALIZED OUR ESG STRATEGIC POSITIONING AND ROADMAP BASED ON VALUES FFP practices that meet very strict criteria - Exemplary gouvernance WE ARE PROUD TO BE A - Ethics - People-oriented HR RESPONSIBLE INVESTOR WHO, - A controlled environmental footprint THROUGH ITS VALUES AND - A positive contribution to Society - Transparent reporting ACTIONS, CONTRIBUTES TO SUSTAINABLE ECONOMIC GROWTH. An active and responsible investment philosophy - An approach rooted in our values - Systematic integration of ESG - Supporting our investees’ responsible transformation SUPPORTING SUSTAINABLE GROWTH Detailed roadmap in appendix (sl 71-72) 13
1 FFP strategic positionning 2 Governance & ESG policy 3 H1 2020 NAV & performance 4 Key events 5 Group financial profile 6 Covid-19 impact 7 Appendices
OUR ASSETS AS AT 30/06/2020 72% 28% Groupe PSA Investments Direct shareholdings Co-investments Listed Private equity funds Private Global Global US Europe Asia & RoW (1) Real estate 15 (1) Investment in Tikehau Capital Advisors.
NET ASSET VALUE AS OF 30/06/2020 % Gross Asset In €m % hold Valuation value Peugeot SA (A) 9,3% 1 255 28% Lisi 5,1% 51 1% CID (Lisi) 25,4% 141 3% SEB S.A. 5,0% 371 8% Safran 0,8% 286 6% Orpéa 5,0% 336 7% CIEL group 6,9% 9 0% Tikehau Capital 2,3% 75 2% SPIE 5,4% 113 3% Non listed holdings 148 3% Holdings (i) 1 529 34% Private Equity funds 353 8% IDI 10,1% 30 1% Private equity vehicules (ii) 383 9% Co-investments (iii) 787 18% Immobilière Dassault 19,8% 87 2% Non listed Real Estate 380 8% Real Estate (iv) 467 10% Other financial assets 34 1% Cash 30 1% Other Assets (v) 64 1% Investment Gross Asset Value (i)+(ii)+(iii)+(iv)+(v) = (B) 3 230 72% Gross Asset Value = (A) + (B) 4 485 100% Debt (C) 945 Net Asset Value = (A) + (B) - (C) 3 540 i.e. per share 142,1 € 16 Note: please refer to FFP’s website or Registration Document for explanatory notes on valuation
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