Renault Group sold to Nissan 195 473 600 Nissan shares for €494 million

Press Release September 27, 2024

Renault Group sold to Nissan 195 473 600 Nissan shares
for €494 million

Boulogne-Billancourt, September 27, 2024

After two sales of Nissan shares on December 13, 2023, and on March 28, 2024, Renault Group has completed a third transaction on September 27, 2024 and sold to Nissan 195 473 600 Nissan shares, representing approximately 5.0% of Nissan’s capital.

It results in a cash inflow of €494 million, which further improves the Automotive net cash financial position and allows faster deleveraging of the Group. It also supports the Group’s target to return to an investment grade rating.

This sale was implemented as part of the share buyback program announced by Nissan on September 26, 2024 and executed on September 27, 2024. As a result of Nissan’s decision to cancel all the bought back shares, the transaction will be accretive for Nissan’s shareholders (see table below for more details). This cancellation will be implemented on October 3, 2024.

As a consequence of the sale of 195 473 600 Nissan shares, the accounting impacts will be the following:

• On Renault Group consolidated financial statements, a capital loss on disposal of around €1,100 million, which will impact the net income (this capital loss, booked in "other operating income and expenses", will not impact the Group's operating income). The impact of this capital loss will have no impact on the dividend paid in 2025 on 2024 results as it will be excluded from the net income used to compute the payout ratio;
• On Renault S.A. statutory statements, a capital loss on disposal of around €120 million;
• Tax impact will be non-significant.
  
  

Evolution of Nissan capital held by Renault Group

Situation as of November 8, 2023		in % of capital
Total number of shares forming the capital of Nissan	4,220,715,112
Total number of shares held by Renault Group	1,831,837,027	43.40%
- Directly-held shares	633,107,309	15.00%
- Shares held in the French Trust	1,198,729,718	28.40%
Situation as of December 31, 2023 (after 1st sale)		in % of capital
Total number of shares forming the capital of Nissan	4,009,715,112
Total number of shares held by Renault Group	1,620,837,027	40.42%
- Directly-held shares	633,107,309	15.79%
- Shares held in the French Trust	987,729,718	24.63%
Situation as of June 30, 2024 (after 2nd sale)		in % of capital
Total number of shares forming the capital of Nissan	3,909,472,212
Total number of shares held by Renault Group	1,521,704,927	38.92%
- Directly-held shares	633,107,309	16.19%
- Shares held in the French Trust	888,597,618	22.73%
Transaction of September 27, 2024 (3rd sale)		in % of capital
Number of Nissan shares sold by Renault Group to Nissan	195,473,600	5.00%
Situation after Nissan shares cancellation		in % of capital
Total number of shares forming the capital of Nissan	3,713,998,612
Total number of shares held by Renault Group	1,326,231,327	35.71%
- Directly-held shares	633,107,309	17.05%
- Shares held in the French Trust	693,124,018	18.66%

In accordance with the New Alliance Agreement, Renault Group has no obligation to dispose of the 2.05% in excess of the 15%, and Nissan will continue to hold a 15% stake in Renault Group. However, the voting rights of Renault Group and Nissan will continue to be capped at 15%.

About Renault Group

Renault Group is at the forefront of a mobility that is reinventing itself. Strengthened by its alliance with Nissan and Mitsubishi Motors, and its unique expertise in electrification, Renault Group comprises 4 complementary brands - Renault, Dacia, Alpine and Mobilize - offering sustainable and innovative mobility solutions to its customers. Established in more than 130 countries, the Group has sold more than 2.235 million vehicles in 2023. It employs nearly 106,000 people who embody its Purpose every day, so that mobility brings people closer.
Ready to pursue challenges both on the road and in competition, Renault Group is committed to an ambitious transformation that will generate value. This is centred on the development of new technologies and services, and a new range of even more competitive, balanced, and electrified vehicles. In line with environmental challenges, the Group’s ambition is to achieve carbon neutrality in Europe by 2040.
https://www.renaultgroup.com/en/

RENAULT GROUP INVESTOR RELATIONS		Philippine de Schonen +33 6 13 45 68 39 philippine.de-schonen@renault.com
RENAULT GROUP PRESS RELATIONS		Valérie Gillot +33 6 83 92 92 96 valerie.gillot@renault.com	Rie Yamane +33 6 03 16 35 20 rie.yamane@renault.com

Attachment

• 20240927_Press Release_Renault Group_Disposal Nissan Shares