JACQUES ASCHENBROICH CHAIRMAN & CEO April 25, 2019 4 POINTS - PowerPoint PPT Presentation

Q1 2019 SALES JACQUES ASCHENBROICH – CHAIRMAN & CEO April 25, 2019

4 POINTS OEM SALES OUTPERFORMANCE IN A DIFFICULT ENVIRONMENT Q1 19 4 pts 219 outperformance 501 4,841 4,121 €m OEM Aftermarket Miscellaneous Sales -1% -4% +7% -1% Reported -3% -4% +5% -3% Like for like Exchange rates +2.4% Exchange rates +0.7% Exchange rates +2.5% Exchange rates +2.2% Scope Scope Scope Scope -0.5% -0.4% -1.1% -0.5% 2 April 25, 2019

OUTPERFORMANCE IMPROVEMENT THANKS TO NEW CONTRACTS START OF PRODUCTION Like for like In percentage points +4pts** +2pts* 0pts* H1 18 H2 18 Q1 19 9,863 *IHS estimates – In China, China Passenger Car Association (CPCA) estimates **IHS estimates 3 April 25, 2019

A GRADUAL INCREASE IN LIKE-FOR-LIKE GROWTH AND MARKET OUTPERFORMANCE DURING THE YEAR Arrival of new platforms in 2019 Examples of new products +85% Content per car for Valeo leading to Average content €x / +x% vs previous vehicles +€800m Additional sales in 2019 4 April 25, 2019

4 POINTS OEM SALES OUTPERFORMANCE (LIKE FOR LIKE) Q1 19 OEM sales (2) OEM Like for like -3% 49% of Valeo sales (2) sales (2) World -2% OEM Europe (1) 20% of Valeo sales (2) sales (2) +5% North America North America Outperformance Outperformance OEM sales** +6% +2pts vs IHS (3) +4pts vs IHS (3) Production*** +4% Outperformance +7pts vs IHS (3) OEM sales (2) 29% of Valeo sales (2) OEM -9% sales (2) 2% of Valeo sales (2) Asia (1) -1% South America Outperformance Outperformance 0pts vs IHS (3) +4pts vs IHS (3) (1) Europe including Africa; Asia including Middle East (2) Valeo OEM sales by destination (3) IHS estimates released on April 16, 2019 5 April 25, 2019

ASIA GLOBALLY IN LINE WITH A WEAK MARKET Q1 19 OEM 28% of Asian sales (1) Sales (1) Like for like -7% OEM Japan sales (1) 29% of Valeo sales (1) -9% OEM Asia (3) 24% of Asian sales (1) Sales (1) Outperformance +1% -8pts vs IHS (2) South Korea Outperformance 0pts vs IHS (2) OEM Outperformance 38% of Asian sales (1) Sales (1) -16% +1pt vs IHS (2) China OEM Outperformance 4% of Asian sales (1) Sales (1) -3pts vs IHS (2) -8% India Outperformance -5pts vs IHS (2) (1) Valeo OEM sales by destination (2) IHS estimates released on April 16, 2019 (3) Asia including Middle East 6 April 25, 2019

EVERY BUSINESS GROUP IS OUTPERFORMING THE MARKET +7pts +3pts +4pts +3pts Outperformance CDA 20% VIS 31% Group €4.8bn PTS 26% THS 23% 1,502 Q1 total sales 1 ,266 1 ,143 In €m % of Q1 19 sales 964 Comfort & Driving Powertrain Thermal Visibility Assistance Reported +3% -5% 0% -1% OEM sales 0% -4% -3% -4% Like for like 7 April 25, 2019

BALANCED GEOGRAPHIC POSITIONING OEM sales by production region % of OEM sales Eastern Eastern Europe & Europe & Africa Africa 16% 17% Western Western Europe Europe 34% 32% Asia excl. Asia excl. 58% in Asia 59% in Asia China China & emerging & emerging 18% 18% countries countries US US 9% China China 8% 13% 11% Mexico SA North Mexico SA North 9% 2% America 11% 2% America 20% 17% Q1 2018 Q1 2019 8 April 25, 2019

BALANCED CUSTOMER PORTFOLIO % of OEM sales Other Other 5% 6% French* French* 14% 15% German** German** 29% 30% American American 19% 18% Asian Asian Asian** 32% 32% 26% Q1 2018 Q1 2019 * Including Opel **Excluding Opel 9 April 25, 2019

2019 OUTLOOK: GUIDANCE UNCHANGED April 25, 2019

2019 OUTLOOK In a context of:  volatile global automotive production (estimated growth of between 0% and -1% over the year compared with 2018) with a decline in the first half (due to the economic environment in China), and an improvement in the second half;  uncertainty regarding the price of raw materials and electronic components. 2019 objectives unchanged:  a stronger market outperformance than in second-half 2018, increasing gradually during the year thanks to the start of production on new contracts, particularly in the camera, electrical and transmission systems, and lighting segments;  roll-out of the program, announced in February, to reduce costs by more than 100 million euros and capital expenditure by more than 100 million euros;  EBITDA growth (in value terms);  higher free cash flow generation than in 2018;  operating margin excluding share in net earnings of equity-accounted companies (as a % of sales) of between 5.8% and 6.5%, depending on the trends in automotive production and in the price of raw materials and electronic components;  a “share in net earnings of equity-accounted companies” line which, as announced, is expected to have a similar impact on Valeo’s 2019 statement of income as it did in 2018. 11 April 25, 2019

BACK-UP  Business Group information 13  IFRS 16 18 April 25, 2019

BUSINESS GROUP INFORMATION April 25, 2019

COMFORT & DRIVING ASSISTANCE SYSTEMS Outperformance 2018 key figures: 0pts +7pts Market share* and competitors: OEM sales growth +1% 0% • Sales: €3.6bn (19% of Group sales) Like for like • EBITDA: 14.0% (22% of Group EBITDA) - Comfort & Driving Assistance: • 24,600 employees Valeo no. 2 • 27 plants Continental + Valeo + Bosch + Visteon ~ 46%* • 7 development centers 964 938 • 6 research centers Total sales (€m) * 2018 Valeo estimate Q1 18 Q1 19 Reported -3% +3% Key growth drivers: 3 main macro-economic trends confirmed with cars more autonomous, more connected and more intuitive  Supported by increasingly stringent regulatory and certification environment (Euro NCAP in Europe and NTHSA in the US)  Leading to further increase in take-up of existing innovative products (including cameras, displays, sensors, etc.)  Latest business developments: Another record order intake with orders for active safety products covering laser scanner, front camera and radar  New customer for Valeo’s laser scanner products line (5 up to now)  Confirmation on existing trend for higher take rate of existing innovation products  14 April 25, 2019

POWERTRAIN SYSTEMS Outperformance +2pts +3pts 2018 key figures: OEM sales growth -1% -4% Like for like • Sales: €5.1bn (26% of Group sales) Market share* and competitors: • EBITDA: 13.1% (28% of Group EBITDA) - Valeo no. 1 • 23,700 employees Valeo + Denso + Luk + Melco ~ 47%* • 55 plants • 16 development centers 1,326 1,266 • 8 research centers Total sales (€m) * 2018 Valeo estimate Q1 18 Q1 19 Reported +19% -5% Key growth drivers: Objective of reducing CO 2 emissions and fossil fuel consumption through 3 priorities for engines: Cleaner engines  Gearbox automation  Powertrain electrification and development of low (12V, 48V) and high voltage  Latest business developments: New business acquisitions in 48V in China  New orders from Indian customers for Valeo Siemens eAutomotive  New contracts in torque converters in China  New contracts in transmissions with trucks manufacturers in Europe  15 April 25, 2019

THERMAL SYSTEMS 2018 key figures: Outperformance -2pts +4pts OEM sales growth • Sales: €5.0bn (26% of Group sales) Market share* and competitors: -1% -3% Like for like • EBITDA: 10.8% (20% of Group EBITDA) Thermal Systems: Valeo no. 2 • 24,500 employees Denso + Valeo + Hanon + Mahle ~ 55%* • 64 plants • 10 development centers • 3 research centers 1,140 1,143 Total sales *2018 Valeo estimate (€m) Q1 18 Q1 19 Reported -7% 0% Key growth drivers: Thermal solutions for electrified vehicles  Latest business developments: Some significant new awards, especially for TCC and TFE, namely: Award of HVAC 100% market share (including Avtovaz) for Entry platform Renault Russia, helping consolidating our strong position in Russia  Award Toyota Europe AC loop business (TCC, TCP, TPT)  Award of FEM with German and american Customers  Award of High Voltage Heater for electric vehicle in China- Award of HVAC for Japan market  16 April 25, 2019