Renault : 2023-2024 integrated report

WeIntegrated Reportdrive2023-2024

a revolutio n that cares for all

Inspired by the "integrated thinking" framework developed by the Value Reporting Foundation, this third Integrated Report is designed to present the Group's stakeholders with a comprehensive vision of its long-term value creation strategy. This publication sets Renault Group position within its ecosystem and explains how it integrates economic, social and environmental factors into its business model,

inlinewithRenaulution,itsstrategictransformation that began in 2021. This Integrated Report also includes an assessment of the first 1,000 days

of this transformation (p. 17), an ESG performance scorecard (p. 34-35) and expert views

on the challenges facing the Group.

It can be read in conjunction with theUniversal Registration Documentfor a complete view of the 2023 financial year and the Group's indicators.

Renault Group's transformation is shifting into a higher gear.

In Viewpoints of our leaders (p. 2), Jean-Dominique Senard and Luca de Meo break down the major challenges that Renault Group is facing and is currently responding to by implementing its revolution.

The Group's Strategic Plan (p. 11) is shaping this revolution, setting the pace

and inspiring the content, with sustainable development acting as a driving force in building its future.

To showcase this transformation, Renaulution: the first 1,000 days (p. 16) highlights the key events of the past three years, as told by the people behind them.

It also introduces the Group Passport (p. 28), which maps out the essential characteristics that make Renault Group the next-generation automotive company.

The year's highlights, through 2023 in action (p. 36), show a proactive Group, committed to translating its sustainable development strategy into reality, with each of its five entities positioned to create and capture value.

Looking to the future! Artificial intelligence, new skills, competition from China: The next generation of cars in questions (p. 55) gives the experts a chance

to discuss the challenges facing the Group and the automotive industry at large.

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sustainability culture

The new Renault Group as viewed by

Jean-Dominique Senard and Luca de Meo

Chairman of Renault Group

CEO of Renault Group

sustainability as a strategic priority

"These days, sustainability priorities and strategy are one and the same. That's why, three years ago, Renault Group's Board

of Directors merged the two committees that used to work in parallel, one on strategy and the other on corporate responsibility.

In a company like Renault, environmental issues, social challenges, and governance matters are the main catalysts behind

the company's actions. They truly form the backbone of its strategy."

JEAN-DOMINIQUE SENARD

"Renaulutionisn'tjustabout tacking on sustainability considerations to Renault's business, like the icing on the cake! It's about making sustainability central

to our business model, as a source of business opportunities that we must systematically address.

Our desire to reduce our of CO2e emissions and transformation of the Flins plant into a circular economy complex, the Refactory, are hallmarks of this paradigm shift. A sustainable model is one that creates value in every sense of the word!

LUCA DE MEO

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"Today, people can

no longer bury their head in the sand as to the impact of human activities.

And that includes the use

of resources.This issue is not only environmental, but also one of strategic independence. The circular economy model is a powerful response to demand that is now coming from consumers, citizens and our employees. It is also

an opportunity, which Renault Group has seized to position itself as a leader with the creation of The Future

Is NEUTRAL, the first 360° circular economy platform for

the automotive industry."

LUCA DE MEO

"Our teams are currently applying their incredible capacity for innovation to create concept cars that can be recycled and are designed with recycled

materials. I think the Scenic Vision, which marked the first step towards the new mass-produced electric vehicle, is a good example of this switch from a linear management to a circular management of resources. Thanks to the extensive use of recycled materials, Scenic Vision offers a glimpse of what our Group is preparing for the future of vehicles. This vision for our products is being deployed at every level of the company: our after-sales service, our logistics chain, our plants and our supplier policy."

JEAN-DOMINIQUE SENARD

a linear model

car-to-car

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connected vehicles

smartphones on wheels

"Few sectors have undergone as deep

a transformation as the automotive industry. In just a few years, a vehicle's value has zeroed in on two components that were stillconsideredinsignificant a decade ago: its battery and its software.

And this shift in focus has brought with it not just technical, but also organizational challenges. To design the most efficient "smartphones on wheels", Renault Group mainly brings together two complementary ecosystems. On one hand are teams dedicated to software engineering at Ampere, and on the other

is Software République, which connects Renault Group with industry leaders to collaborate on projects."

JEAN-DOMINIQUE SENARD

"The other major revolution in the future of the car industry, alongside

the transition to electric vehicles, has already begun. And it's going

to pick up pace!Cars are now

connected devices, taking up an ever larger place in our customers' digital ecosystem. "Software-Defined Vehicles" will become smartphones on wheels, learning daily from their users to offer new services. Continuously upgraded throughout their life cycle, they will be more valuable with each day."

LUCA DE MEO

(1) Atos/Eviden, Dassault Systèmes, Orange, Renault Group, STMicroelectronics, Thales and JC Decaux.

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"The automotive revolution is also a revolution in skills and professions, but it won't happen on its own. Battery chemistry, software engineering, cybersecurity, etc. These

are all new areas of expertise that will eventually replace today's jobs. With ReKnow University, we're taking things head on and getting the entire industry involved in the transition. Our objective is to train 35,000 people between 2021 and 2025 to ensure that no one is left on the roadside."

LUCA DE MEO

"In the mobility industry, we can't succeed without foresight! This obviously applies to technological and geopolitical change. But it also fundamentally applies to skills.Our company

has begun tackling the issue by creating the Group's university and setting up academic partnerships around our production sites. And that's the best guarantee of a lasting future. Training should also aim

to enhance the appeal of the entire industry. Promoting the incredibly broad choice of future professions in the mobility industry means helping to attract the top talent that our sector so urgently needs."

JEAN-DOMINIQUE SENARD

a job for life

new skills required

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cars were sold

kilometersare purchased

"The love affair with the automobile is not about to wane. There have never been so many auto clubs and collectors around the world! But technology has completely transformed the way cars are used.

Smartphones are now used to order a vehicle in just a few clicks, locate it, use it - for a few hours or a few days - recharge the battery if it's electric, and more. Digital technology makes it easy to expand almost indefinitely on the use of mobility, and to attract customers who only occasionally need a car and could not justify buying one. And that's where the talent and added value of the marketing and sales teams, as well as distribution networks, come in. They are able to analyseandrespondtotheburgeoning variety of customer needs."

JEAN-DOMINIQUE SENARD

"Cars will remain an integral part of mobility and we're not about to stop buying them. But the ways we use cars will change. Leasing offers are developing as an important way of ensuring that mobility remains affordable and of meeting our customers' ever- changing expectations.

With Mobilize, Renault Group has formed a team capable of providing our customers with the most innovative financing solutions. But that's not all! The switch to electric vehicles is blurring the line between the energy we use to get around and the energy we use to power our homes. Tomorrow, I'll be able

to use my car battery to help balance grid load and boost my consumption of renewable energy… while reducing my energy bill! A whole swath of new uses and new services is opening, and we're the pioneers moving into it!"

LUCA DE MEO

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"In an F1 race, you always need a plan B, and even a plan C! The same goes for the transition to sustainable mobility.

The destination is electric, but we know that the road will be slippery and the rate of progress unpredictable and variable depending on the market.

That's why Renault Group has prepared itself for all potential outcomes. In EVs, we have come up with something entirely new

in launching Ampere, designed to outpace the pure players in the race to produce affordable electric vehicles. And in the hybrid space, Horse is our mainstay in reinventing the internal combustion engine and developing ultra-low emission solutions."

LUCA DE MEO

"Every day, we hear on the news about our world's fragility and instability. As a result of geopolitical fragmentation and protectionist decisions by major powers in different regions around the globe, we go from crisis to crisis, requiring continuous resilience from our teams.

Today, we have all the technologies

• electric, hybrid, hydrogen, new fuels - we need to keep us one step ahead, so that we can adapt to any new international situation."

JEAN-DOMINIQUE SENARD

conventional combustion engine vehicle

EV, hybrid and solutions for the future

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a car maker

the next-generation automotive company

"Our spirit of innovation takes mobility further to bring people closer. Innovation is the cornerstoneofourPurpose, and not just in terms of technology and products.

It also applies to our organizational structure, breaking with what has been the traditional model in the automotive industry. This visionary new structure also has great merit in that it emphasises accountability for the teams that are now specialized within their value chain - electric, ICE, mobility services or the circular economy. Renault Group is thus

a company that both accepts and gives responsibility. The strong growth in employee share ownership in recent years is a powerful sign

of our teams' trust in the company's strategy and their engagement. That's the best asset we can have for the future!"

JEAN-DOMINIQUE SENARD

"Value is shifting in the automotive world. Along with internal combustion engines (ICE), software, EVs, new forms of mobility, and the circular economy are all critical new sources

of value.We can compare the path ahead with the rise of the Chinese market in the 2000s. To capture this value, car manufacturers will have to completely reinvent themselves. This is Renault Group's objective

in transforming into a next-generation automotive company. Rather than a single team where everyone does a little bit of everything, but with mediocre results, we are creating

a team of teams, each specialized and each 100% dedicated to one of the new value chains."

LUCA DE MEO

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For a sustainable,

inclusive and

competitiveEuropean automotive industry

In his recent Letter to Europe, Luca de Meo calls for European

mobilization to collectively succeed in the automotive

industry's energy transition. And he explains why this period of unprecedented transformation should be a springboard for industrial renewal in Europe.

• This document, which has been sent to all European decision-makers and is available in 16 languages, provides valuable insight to inform tomorrow's choices. It sets out 10 concrete areas where European industry can take action simultaneously to meet the major challenges in the automotive sector:

Decarbonization	Digital revolution
Regulations	Technological volatility
Price volatility	Employee training

  The Letter to Europe features a precise analysis and ambitious proposals.

Click here for the full document.

The prosperity of Europe is at stake. The European automotive industry could rapidly emerge as the solution, but this will require a paradigm shift. Working

together is vital, for competitors and for industrial sectors. We must take our inspiration from

best practices elsewhere. By stepping up cooperative initiatives, we will set our industry on the road to revival."

Luca de Meo

CEO of Renault Group

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