Crédit Agricole Consumer Finance and Stellantis sign binding agreements for their strengthened partnership

CREDIT AGRICOLE SA

Press release

Massy, ​​1st April 2022.

Agricultural credit Consumer credit and Stellantis signed mandatory agreements for their strengthened partnership

In accordance with oneannouncements of December 17, 2021 and next the opinions of employee representative bodiesCA Disadvantagesumer Finance and Stellantis to have sign binding agreements providing for the creation of a European leader operational automobile leasing and the acquisition by CA Consumer Finance of 100% of the capital of FCA Bank and Leasys Rent.

On the one hand, the agreement provides for the creation by the two partners of a pan-European leader in long-term automobile leasing by pooling Leasys and Free2Move Lease. Today, Leasys (363,000 vehicles in the fleet at the end of 2021) is the leasing subsidiary of FCA Bank1, market leader in Italy, and Free2Move Lease (444,000 vehicles in the fleet at the end of 2021) operate Stellantis’ leasing activity for the PSA and Opel brands. Jointly owned by CA Consumer Finance and Stellantis, this new multi-brand leasing joint venture will serve all customers, businesses and individuals, in ten European countries, and aims to develop a fleet of more than one million vehicles. by the end of 2026. This exclusive partnership between CA Consumer Finance and Stellantis will allow them to immediately become one of the top five European players.

On the other hand, CA Consumer Finance will acquire 100% of the capital of FCA Bank2 and Leasys Rent, with the ambition of making it a pan-European player in financing, leasing and automotive mobility, with a target of €10 billion in assets by 2026.

I am very pleased with the progress made in redefining the direction of oyour cooperation with Stellantissaid Stéphane Priami, Deputy CEO of Crédit Agricole SA and CEO of CA Consumer Finance. The ambitious partnership we are building together will bring benefitssustainable and diversified growth. The Crédit Agricole group will create a European company rental manager with Stellantis and will have a 100% innovative car financing platform which will enable it to serve all market players in 18 countries, including white labelswith a compcomplete and operational offer.

The required transactions are expected to be completed in the first half of 2023 once the required clearance has been obtained from the relevant competition authorities and market regulators.
The impact of the transaction on Crédit Agricole SA’s CET1 will be neutral overall. The financial conditions of this operation will also enable CA Consumer Finance to maintain a high level of results until the objectives are reached in 2026.

Contact CA Consumer Finance : +33 (0)1 87 38 11 81 – [email protected]

About Crédit Agricole Consumer Finance
Crédit Agricole Consumer Finance, the consumer credit subsidiary of Crédit Agricole SA, distributes (in France, mainly through its Sofinco brand) a wide range of loans and associated services through all distribution channels: direct sales, financing on the place of sale (automotive and household equipment) and partnerships. Alongside major retailers and institutions in the 19 countries where it operates, CA Consumer Finance offers its partners flexible and responsible solutions tailored to their needs and those of their customers. Excellence in customer relations, teams empowered for customers and societal commitment are the pillars that make CA Consumer Finance a group that works daily in the interests of its 15 million customers and society. As of December 31, 2021, CA Consumer Finance managed 92.5 billion euros in outstanding loans, of which 46% in car financing.
Learn more: www.ca-consumerfinance.com

1 Over the past 15 years, CA Consumer Finance and Fiat Chrysler Automobiles have jointly developed a major player in automotive finance: FCA Bank.
2 Stellantis Group will also retain partial exposure to certain FCA Bank run-off portfolios and related results.

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