Groupe PSA: Five out of Six Trade Unions Representing 80% of Employees Sign the DAEC Agreement

Regulatory News:

Groupe PSA’s (Paris:UG) Central Works Committee today issued a favourable opinion on the 2018 DAEC after five out of six trade unions – CFDT, CFE/CGC, CFTC, FO and GSEA – signed the agreement. The outcome illustrates the maturity of labour relations within Groupe PSA and its active commitment to working alongside employee representatives.

The 2018 DAEC is in line with the 2017 system, which expires on 31 January 2018. It is based on the same measures provided under the New Momentum for Growth agreement, signed in July 2016, and takes into account recent regulatory changes.

The system demonstrates Groupe PSA’s responsible employment policy, based on securing the professional future of its employees, externally and internally. Its purpose is to anticipate major changes in the automotive industry and strengthen people’s employability at each stage of their working lives.

The 2018 DAEC is the 13^th major agreement signed between Groupe PSA and employee representatives in the past twelve months.

Xavier Chéreau, Groupe PSA Executive Vice-President, Human Resources, said of this step forward in social dialogue: "The agreement signed today with five trade unions reflects the momentum we’ve generated over the past few years working together with employee representatives. The quality of our dialogue with the unions and the mutual trust we’ve built over the years give the Group a genuine competitive advantage which is helping us to move ahead. Together we will shape the Group’s future and secure its performance and sustainability.

Commitments in France for 2018, in keeping with the 2017 DAEC:

• More than 1,300 new hires under permanent contracts, including 400 in manufacturing, to drive the commercial success of new models
• At least half of entry-level positions filled by the Group’s former interns or work-study employees, with the hiring of at least 2,000 young people
• More than 6,000 internal transfers and over 1,000 internal retraining courses
• Secure around 1,300 outplacements (through retraining leave, business creation and career transition passports)

The number of new hires and voluntary outplacements will therefore be balanced, and commitments to internal retraining and secure outplacement options will be maintained, backed by the same support programmes.

About Groupe PSA

The Groupe PSA designs unique automotive experiences and delivers mobility solutions to meet all client expectations. The Group has five car brands, Peugeot, Citroën, DS, Opel and Vauxhall, as well as a wide array of mobility and smart services under its Free2Move brand, aiming to become a great car maker and the preferred mobility provider. It is an early innovator in the field of autonomous and connected cars. It is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia. Find out more at groupe-psa.com/en.

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Communications Department - www.groupe-psa.com/en - +33 6 61 93 29 36 - @GroupePSA

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