Renault : Answers to shareholders' written questions

ANNUAL GENERAL MEETING OF MAY 11, 2023

ANSWERS TO SHAREHOLDERS' WRITTEN QUESTIONS

NB: The Board of Directors answered in French the written questions asked by shareholders under the mechanism set by Article R. 225-84 of the French Commercial Code. This English version is issued solely for the convenience of English-speaking readers. Therefore, in case of discrepancy between this document and its French version, the French version shall prevail.

1. Questions from Forum pour l'Investissement Responsable (French S.I.F)

ENVIRONMENT

Question n°1:

1. How, in the context of the Paris Agreement, is each of your actions to reduce your direct and indirect greenhouse gas (GHG) emissions contributing to your decarbonisation targets across all scopes (percentage of reduced emissions due to the action)?
   What is the proportion of negative emissions in your decarbonisation targets?
2. Could you link the amount of investment necessary for each of the actions implemented in relation to reducing your direct and indirect emissions resulting from your decarbonisation strategy?
3. On which reference scenario(s) is your decarbonisation strategy based? Is it aligned with a 1.5°C scenario?

Answer:

1. Renault Group plans to reduce Scope 1 and 2 greenhouse gas emissions by 80% by 2030; these scopes currently account for 2.2% of Renault Group's carbon footprint.
   For Scope 3 upstream, the planned reduction by 2030 is 30% for materials (per kilogram) and 35% for battery production; this scope currently accounts for 17% of Renault Group's carbon footprint.
   For Scope 3 downstream, the aim is a 35% reduction in well-to-wheel emissions; this scope currently accounts for 80% of Renault Group's carbon footprint.
   The first negative emissions will be in Scopes 1 and 2 with the ElectriCity industrial cluster becoming carbon-neutral in 2025, followed by all Europe in 2030. They will correspond to any Scope 1 and 2 emissions Renault Group is unable to offset through the various renewable electricity and heating contracts it is currently putting in place.
2. At present, Renault Group's investment monitoring is organised on the basis of each vehicle project and factory; our management tools do not currently provide for investment monitoring on the basis of decarbonisation initiatives. We will be rolling out a monitoring tool enabling us to track investments for each action undertaken within each scope.
3. Renault Group's commitments announced in the Climate Report and at the April 2021 General
   Meeting are in line with the 1.5°C scenario for Scopes 1 & 2 and the 'well below 2°C' scenario for
   Scope 3 upstream and downstream. These trajectories are more ambitious than the previous targets approved in 2019 that feature on the SBTi website.
   We are committed to the 'Business Ambition for 1.5°C' campaign and have approached SBTi to confirm our aims in terms of new trajectories.

Question n°2:

1. Have you carried out a recent assessment of the (direct and indirect) impacts and dependency of your activities on biodiversity?
2. If not, why? If yes, has your calculation of the (direct and indirect) dependency of your activities on biodiversity (expressed as a percentage of sales, net banking income, etc.) changed since last year?
3. Based on your assessment, how much have you spent to promote biodiversity (protection, restoration, etc.)? Please indicate an amount.

Answer:

1. 1. Yes, all details relating to biodiversity are available in the 2022 Universal Registration Document, page 202, chapter 2.3.2.4. Ecosystems and Biodiversity.
      In 2022, Renault Group continued to analyse its dependency and impact on biodiversity and ecosystems, based on a method used by a firm of specialist consultants.
      Evaluation of the dependency of our activities on ecosystem services:
      The main ecosystem services required in Renault Group's business model are as follows: provision of water, mineral ores, biotic and abiotic outputs; services for climate regulation, water and waste treatment; cultural services.
      Evaluation of the impact of our activities on biodiversity and ecosystems:
      Through its own activities, its value chain, and the use of its products, Renault Group contributes (to varying degrees) to the five pressures on global biodiversity identified by IPBES, the four main ones being climate change, changing use of sea and land, direct exploitation of organisms, and pollution.
      At the same time, to determine the impact of our own activities on biodiversity and ecosystems more precisely, 21 pre-diagnostic studies have been carried out on those sites deemed to be facing the most serious issues (with priority given to sites close to natural areas and/or with a large proportion of natural land within their property). This research has revealed the sensitive environmental issues on each site and identified actions that can encourage biodiversity on our sites. 5 of these 21 pre-diagnostic studies have revealed significant issues, including the presence of protected species such as the southwestern water vole, marsh helleborine and the brown howler monkey.
2. Our assessment of the dependency (direct and indirect) of our activities has not changed since last year: automotive production activities depend on the preservation of ecosystems and biodiversity.
3. Renault Group expenditure to promote biodiversity is currently directed mainly towards indicators for measurement (diagnostics), avoidance (guidelines) and minimisation (goals).
4. 
   Examples of restoration projects supporting reforestation:

   • In 2022, Renault Group made a commitment to the Global Platform for Sustainable Natural Rubber (which leads improvements in the socio-economic and environmental performance of the natural rubber value chain) to co-fund a field project in an area that produces natural rubber. This expenditure is in addition to the annual membership fee paid by Renault Group since 2019.
   • In 2022 in Spain, the Renault Foundation partnered with the Natural Heritage department of the Castilla y León Region to organise the planting of over 2,000 trees near its Valladolid facility. This action will help improve plant biodiversity in the region and support existing animal species.
   • In 2022 in Colombia, reforestation work was carried out in the Salto de Tequendama forest region. This task has been entrusted to women from communities close to the site in question as part of the '"El Granja El Porvenir"' project. By giving participants a new source of revenue, the project is helping to increase their economic resilience and enabling them to acquire new skills, in addition to serving a local environmental need.

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Question n°3:

1. How, against a background of inflation, geopolitical crises, global warming and biodiversity loss, do you evaluate the financial and economic impacts of the increasing scarcity of strategic natural resources or difficulties in accessing them on your business models?
2. Have you assessed the increase in costs created by these difficulties (indicate how costs have changed, as a percentage or by value)?
3. What measures have you taken as a result to reduce your consumption and move towards a circular business model (indicate the share of the business's activities affected by these solutions)?

Answer:

1. At a time at which both the price of raw materials and the energy mix (petrol, diesel, and electric vehicles) are highly volatile, Renault Group is adjusting its purchasing, technical, market watch and hedging policies to identify and mitigate supply risks and cost overruns. In its purchasing policies, Renault Group is continuing to develop the multi-sourcing of materials such as cast steel and aluminium in order to optimise costs and ensure security of supply. Renault Group is also stepping up controls on the materials contained in parts and components on the basis of a panel of approved materials; detailed materials price analysis is carried out when costing parts.
   In terms of technical policies, Renault Group is actively seeking to reduce or replace the use of sensitive materials such as palladium, rhodium, and rare earths. It is also continuing to develop the use of recycled materials (particularly precious metals) and end-of-life vehicle recycling. Further steps in this direction include the launch of the Refactory in Flins in 2020 and the setting up in October 2022 of 'The Future Is Neutral' (TFIN), its new entity devoted to the circular economy.
   For strategic materials for batteries, Renault Group is seeking to secure the supply of responsible materials and share control of the value chain with its stakeholders. With this in mind, agreements for the supply of low-carbon lithium and nickel were entered into in 2021 and 2022; Renault Group is considering extending the use of this type of contract to include materials other than those used in batteries.
   In terms of market watch, Renault Group revises its forecasts for the main listed and unlisted commodities every two months. At the same time, it constantly monitors critical materials markets and suppliers.
2. The impact of changes in the cost of raw materials will be much lower in 2023 than in 2022, with the increase in the cost of raw materials and variable costs being more than offset by the mix/price/enrichment effect and productivity.
   Some resulting measures taken in order to decrease consumption and its business model more circular are summarised below.
   Reducing consumption:
   Renault Group is striving to mitigate the impact of its activities on all resources (fossil, natural, mineral, and water resources) through efficient management from vehicle design to end-of-life, including recycling.
   For instance, for energy use, in 2022 (with levels of business similar to those in 2021) Renault Group improved its performance by over 13%, achieving 1.92mWh/vehicle (14% for the manufacturing scope). This significant improvement was due firstly to the implementation of ambitious action plans across all sites (improved metering plans, a new energy portal, technology building blocks, etc.) and secondly to the setting up for last winter of a Task Force devoted to the energy crisis as well as more hands-on management across all sites.
   Developing a circular business model:
   Against a backdrop of energy transition, increasing scarcity of resources, and raw material price inflation, our 'The Future Is Neutral' entity created in October 2022 is the first automotive industry company to be devoted to a full-scope circular economy spanning everything from closed-loop

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systems for materials to battery recycling. In Europe, despite over 11 million vehicles in which approximately 85% of the materials are recyclable reaching the end of their life every year, while today, no more than 20-30% of the materials in new vehicles are currently recycled (from all areas of industry).

The aim of this new entity is to drive the automotive industry towards becoming resource-neutral, enabling automotive industry players to achieve significant improvements in the proportion of recycled materials from their industry in new cars by developing closed-loop recycling solutions at each stage of vehicles' life cycles: the supply of parts and raw materials, production, normal wear and tear, and end-of-life. To do so, it draws on the expertise of its subsidiaries Gaia (for battery repair, component collection and re-use, and the recycling of materials from end-of-life vehicles) plus two joint ventures with Suez, Indra (a leading processor of end-of-life vehicles in France with over 370 approved centres), and Boone Comenor Metalimpex (experts in recycling metal offcuts from industry) and its existing partner network.

The entity aims to become Europe's leading industrial-scaleclosed-loopcircular-economy automotive company, serving Renault Group and the industry as a whole.

The principles of the circular economy allow Renault Group's exposure to the increasing scarcity of resources and volatility in raw materials prices to be reduced in several ways:

• through the application of eco-design standards to vehicles and batteries. These facilitate more sparing use of rare materials, the inclusion of recycled materials, and vehicles designed to be able to be dismantled and recycled at the end of their lives;
• through projects to develop and implement new technical solutions and collection, re-use, renovation, and recycling processing chains for parts and materials. These projects broaden the supply of re-manufactured and re-used parts and open up the prospect of second-life uses, electric vehicle battery recycling, and short-circuit materials recycling loops within the automotive industry;
• through plans to improve the efficiency of industrial processes to optimise the use of resources and mitigate and recover waste.

Renault Group's aim is for recycled materials to make up 33% of the total mass of new cars worldwide by 2030. Renault Group is also aiming to increase the proportion of recycled strategic materials reintroduced into battery production in a closed-loop system to 80% by 2030.

SOCIAL

Question n°4:

1. Can you specify how the environmental and social (E&S) criteria included in the short and long-term variable remuneration policies (if applicable) for your senior managers reflect the more practical E&S issues faced by your business?
2. How does the Board ensure that E&S targets are achieved and, in particular, based on which quantitative criteria? Is the level of requirement systematically reassessed when achievements rates are high?
3. Can you describe how your employees' (excluding senior managers') remuneration (bonus, long-term, profit sharing, other) incorporates E&S criteria? Please specify the number of employees concerned and provide as much detail as possible about the E&S criteria and the proportion of employee remuneration they represent.

Answer:

1. The ESG criteria adopted for the compensation policy of Renault Group's Chief Executive Officer are as follows:
2. • 3 criteria for short-term variable compensation: the circular economy; training and reskilling; health and safety;
   • 1 criterion for long-term compensation in the form of performance shares: the electric private car sales mix in Europe;
   • 1 criterion in the co-investment plan: CO2 emissions (kg CO2/vehicle produced in Europe).

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These criteria are fully in line with the three pillars underpinning Renault Group's sustainable development strategy. The three pillars support the transformation implemented through the RENAULuTion plan towards a greener, more tech-oriented company with a new focus on data, energy, and services:

1. • the environment: reducing our carbon footprint and achieving better use of resources by developing our circular economy business lines;
   • safety: leveraging onboard vehicle technology in our cars to enhance the safety of users of our vehicles and on-road services. This pillar also covers the safety of employees in the workplace;
   • inclusion: the transition towards new business lines such as electrification, data and the circular economy will be achieved by supporting skills transformation and promoting diversity within Renault Group.
2. The ESG criteria used in compensation are mainly quantitative in nature (see details of the 2023 compensation policy, chapter 3.2.4.2 of 2022 URD). Those in charge of each criterion specify the degree to which it has been met in a document presented to the Governance and Compensation Committee and are called on by the Committee to supply any further explanations as needs be.
   The goals for each criterion are demanding and are in line with sustainable development strategy milestones.
3. The criterion relating to CAFE (Corporate Average Fuel Economy), expressed in g CO2/km, has been the non-financial criterion in the incentive agreement since 2020. If it is met, the corresponding fixed component is €200 net per employee. The criterion was met in 2021 and 2022, resulting in a bonus payment of €200 plus a further €40 per €100 of salary in 2021 and a bonus payment of €200 in 2022.
   Renault Group's incentive payments were implemented in all companies within the scope of the agreement; between 35,000 and 40,000 employees benefited in FY 2021 and 2022.
   In addition, as part of the incentive agreement, the various business units and companies may choose local performance criteria from the 'QCDRH' table, which comprises four sections: Quality,
   Costs, Lead Times and Human Resources. As well as these indicators, specific indicators defined by local agreements allow collective performance to be rewarded, in particular as regards the environment, CSR, and diversity. Typically, criteria adopted may relate to the carbon footprint and reducing energy use in companies, waste sorting, working conditions and workplace safety. On average, payments in respect of local performance incentive schemes amounted to €1,053 in 2021 and €1,138 in 2022.

Question n°5:

1. Within the context of your value sharing policy, what proportion of your share buybacks have you allocated to your employees over the last five financial years (excluding performance shares)? What proportion of employees was involved in France and internationally?
2. Can you break down the allocation of your share buybacks (cancellation, employee share ownership campaign, allocation of performance shares, other beneficiaries or other allocations) over the same period?
3. More generally, do you have a policy that sets out the allocation of your share buybacks? Is this policy public? If so, can you describe it?

Answer:

1. Over the past five financial years, Renault Group share buybacks have enabled the launch of a single employee shareholding operation (excluding performance shares) in 2022.
   As part of its new employee stock ownership policy, this major initiative was rolled out in 29 countries and offered to over 110,000 employees (including almost 47,000 eligible employees and retired employees in France). Implemented pursuant to articles L.3332-18et seq. of the French Labour Code (Code du travail), the scheme allowed Renault shares to be purchased via an

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