Renault : Focus on Renault's participating shares

Monday 12 March 2018 - General presentation of the Renault participating shares (PS) - In October 1983 and October 1984, Renault launched a public offering for the issuance of participating shares for a total amount of FRF 2bn, i.e. 2 million shares issued at FRF 1,000 each (nominal amount of € 152.45 currently after the move to the euro), in two issues of 1 million shares each. Renault's PS are listed on the Paris Stock Exchange (ISIN code: FR0000140014). They are subordinated perpetual securities that are currently recognised as non-current financial debt. - Between March and April 2004, Renault carried out a public buyback offer on its participating shares at a unit price of € 450. Following this transaction 1,202,341 shares were repurchased, i.e. 60.12% of the shares, all of which were cancelled. The number of participating shares outstanding at the end of the transaction is currently unchanged at 797,659. - Interest payment of the PS - Participating shares offer an annual remuneration of at least 9%, including: - a fixed portion of 6.75% (i.e. € 10.29 per security), - and a variable portion (of at least 2.25%), based on changes in consolidated sales, calculated at unchanged structure and consolidation methods. - Interest payment of PS (general formula) – only available in French - / - Sources: Renault's information note on participating shares, Oddo BHF - Variable component of the PS Interest payment: sales definition – only available in French - / - Sources: Renault's information note on participating shares, Oddo BHF