General Motors Company · NYSE:GM
General Motors — Deutsche Bank Global Auto Industry Conference 2017
46 slides from General Motors's conference presentation, Jan 10, 2017
Slide 1: General Motors – Mary Barra, Deutsche Bank Global Auto Industry Conference
Exhibit 99.2 GENERAL MOTORS MARY BARRA Chairman and CEO DEUTSCHE BANK GLOBAL AUTO INDUS CONFERENCE January 10,2017 2017 Chevrolet Bolt EV
Slide 2: Track Record of Earnings Growth
TRACK RECORD OF EARNINGS GROWTH EPS-diluted-adjusted High-end $6.00- $6.50 $5.50 -$6.00 Consistently delivering improved results 2016 Outlook 2017 Outlook GENERAL Moy
Slide 3: Creating Shareholder Value
CREATING SHAREHOLDER VALUE Established track record of strong financial performance Driving cost efficiencies Compelling growth opportunities Delivering results today while preparing for the future Disciplined capital allocation framework An industry leader in return on invested capital*
Slide 4: A Different Company
GMISA DIFFERENT Winning product and brand portfolio COMPANY Strong North America margins Well positioned to perform through the cycle + Focused + Disciplined Capitalizing on advancements in technology + Better Investment grade balance sheet Winning team
Slide 5: We Are Redefining the Future of Personal Mobility
WE ARE REDEFINING THE FUTURE OF PERSONAL MOBILITY Connectivity Alternative Propulsion ‘Autonomous Sharing Technology & Innovation FOUNDATION Values/Behaviors GENERAL MOTORS
Slide 6: Lead in Technology and Innovation
LEAD IN TECHNOLOGY AND INNOVATION Connectivity Sharing @ Par) 312 million | Chevrolet Bolt | Cruise | lyft/Maven connected vehicles 238 mile range Automation GENERAL MOTORS
Slide 7: 2017 GMC Acadia
2017 GMC Acadia Strong financial GM is a better, We are redefining Track record of results more disciplined, the future of delivering on more focused personal mobility commitments company GENERAL MOTORS
Slide 8: General Motors – Dan Ammann
GENERAL MOTORS DAN AMMANN President DEUTSCHE BANK GLOBAL AUTO INDUSTRY CONFERENCE January 10,2017 G20 Chevrolet Equinox
Slide 9: Key Messages
KEY MESSAGES Strong growth Disciplined Lead in safe opportunities resource allocation autonomous vehicles for ride-sharing at scale GENERAL MOTORS
Slide 10: Delivering Top Line Performance
DELIVERING TOP LINE PERFORMANCE [YSERiST Total Net Revenue (saitions) ~$30 ~$165 Focused on ~@7) ~($13) earning customers for life and growing our brands 2013 Market Exits FX Revenue 2016E Translation Performance
Slide 11: Growing Faster Than the Industry
GROWING FASTER THAN THE INDUSTRY 2013-2016 CAGR frevenve adit for 9) Adjacent businesses fueling growth Global Industry Global Industry Volum
Slide 12: Growing Faster Than the Industry
GROWING FASTER THAN THE INDUSTRY 2013-2016 CAGR frevenve adit for 9) 15% Adjacent businesses fueling grov Global industry ae faust GM Revenue GM Vehicle GM Adjacencies Performance Revenue Revenue ee chin)
Slide 13: Richer Mix
RICHER MIX Increases driven by our vehicle segment mix 2013-2016 GM Total Peenod MISTI Units (Revenue adjusted for $26,700 $25,600 $24,400 - | 2013 2014 2015
Slide 14: Rising GM Full-Size Pick-up Average Transaction Prices
RISING GM FULL-SIZE PICK-UP 2013-2016 AVERAGE Average Transaction Price TRANSACTION PRICES ae) $42,200 Our product eoeiey strategy is delivering results $35,000 $30,000
Slide 15: Cadillac Transaction Price Among the Highest in Luxury
CADILLAC TRANSACTION PRICE AMONG THE HIGHEST IN LUXURY $60,000 $55,000 MERCEDES a ecanict $50,000 Bmw $45,000 mel) LEXUS: $40,000 SSS INFINITI LINCOLN $35,000 2013 2014 2015 2016 Cadillac 2016 CYTD ATP is among the highest within luxury brands at ~$54,000 GENERAL Moy
Slide 16: Richer Mix in China
RICHER MIX IN CHINA Increases driven by improved vehicle mix 2013-2016 Automotive China JV Total Revenue/Wholesale Units ¥74,800 ¥73,600 ¥78,000
Slide 17: Strong Upcoming Launch Cadence
STRONG UPCOMING LAUNCH CADENCE 2011-2016 Launch cadence average 2017-2020 Launch cadence average ~26% Volume ~38% Volume % of GM global sales from new or refreshed model introductions i (Less than 18 months in production) i 47% ' 38% 1 36% 1 30% : | 1 1 1 ! 1 1 2012 2013 2014 2015, 1 2017€ 2018E 201
Slide 18: GM Global Sales from New or Refreshed Models by Type
GM GLOBAL SALES FROM NEW OR REFRESHED MODELS BY TYPE 2011-2016 2017-2020 GM global new or refreshed vehicle sales GM global new or refreshed vehicle sales BB trucks, suvs, and Crossovers Bi trucks, suvs, and Crossovers Bears Bcars Greater proportion of launches will be Trucks, SUVs, and Crossovers G
Slide 19: Winning Launch Products
WINNING LAUNCH PRODUCTS 2018 Chevrolet Equinox 2018 GMC Terrain 2018 Chevrolet Traverse GENERAL MOTORS
Slide 20: We Made Bold Decisions to Improve ROIC-adj
WE MADE BOLD DECISIONS TO IMPROVE ROIC-ADJ Chevy Europe Thailand Opel capacity Indonesia Russia Brazil Australia And continue to deploy capital where it will generate strong returns GENERAL MOTORS
Slide 21: External Forces Driving Resource Reallocation
EXTERNAL FORCES DRIVING RESOURCE REALLOCATION Segment shifts (e.g. Car to SUV) Changing profit pools Regulation Geopolitical/Macro Alternative Propulsion Transportation as a Service Autonomous Vehicles GENERAL MoTORS Portfolio planning and resource reallocation
Slide 22: Improved Resource Allocation
IMPROVED RESOURCE ALLOCATION High margin franchises Unprofitable markets asvaaoid wi “n < wi a Uy 2 Advanced technologies Declining segments Manufacturing efficiency Footprint optimization
Slide 23: GM to Lead in Safe Autonomous Vehicles for Ride-Sharing at Scale
GM TO LEAD IN SAFE AUTONOMOUS VEHICLES FOR RIDE-SHARING APPLICATIONS AT SCALE Nasr ev Vehicle Autonomous Manufacturing Platform Technology Capability Eis Connectivity GENERAL MOTORS
Slide 24: Summary
SUMMARY Strong growth Disciplined resource Lead in safe opportunities allocation autonomous vehicles for ride-sharing at scale GENERAL MOTORS
Slide 25: General Motors – Chuck Stevens, CFO
GENERAL MOTORS CHUCK STEVENS Executive Vice President & Chief Financial Officer DEUTSCHE BANK GLOBAL AUTO INDUSTRY CONFERENCE January 10,2017 Cadillac Escala Concept
Slide 26: GM Is a Compelling Investment Opportunity
GM IS A COMPELLING INVESTMENT OPPORTUNITY Earnings iplined Capital Robust Downside Growth Allocation Protection Continued EPS Disciplined Enables sustained growth trajectory reinvestment and returning cash through the cycle to shareholders GENERAL MOTORS
Slide 27: 2016 Performance
2016 PERFORMANCE 7 ™Y) ON TRACK 2015 actual Initial 2016 outlook Current 2016 outlook O EPS-diluted-ad). $5.02 $5.00 - $5.50 ©) High-end of $5.50 - $6.00 Adj. auto FCF $4.88" ~$6B (2) ~$68 ee $5.78 $3.88 © $4.88 On track to deliver on record 2016 commitments GENERAL MOTORS
Slide 28: Key Trends Driving 2017 Performance
KEY TRENDS DRIVING 2017 PERFORMANCE Important product launches Pricing pressure in U.S./China Cost efficiencies Brexit Growth in adjacencies Costs associated with future mobility U.S. regulatory environment U.S. regulatory environment Improvement in South America Continued improved performance in a
Slide 29: 2017 Continues Strong Performance
2017 CONTINUES STRONG PERFORMANCE... Revenue growth BIT-adj. expansion Billions Billions 32016 22016 2016 Outlook 2017 Outlook Continued growth trajectory expected GENERAL MOTORS
Slide 30: Translating into Robust EPS and Strong Free Cash Flow
TRANSLATING INTO ROBUST EPS AND STRONG FREE CASH FLOW EPS-diluted-adj. growth Adj. auto free cash flow Billions $6.00 - $6.50 High-end 20160utlook 2017 Outlook Business model that generates results GENERAL MOTORS
Slide 31: Focused on Driving Cost Efficiencies - Ahead of Plan
WE REMAIN FOCUSED ON DRIVING COST EFFICIENCIES - AHEAD OF PLAN: MATERIAL, LOGISTICS, MANUFACTURING AND SG&A Billions ~¢- Original Target Exceeding target by $0.5B gives us confidence to ment d Target Increased Targe! raise target by $1.0B Expect ~$38 of net savings after investments in brand-buildin
Slide 32: Disciplined Capital Allocation Framework
DISCIPLINED CAPITAL ALLOCATION FRAMEWORK Reinvest in business to drive growth and 20+% ROIC-adj. Return all available $20B target cash free cash flow to shareholders Investment grade balance sheet
Slide 33: History of Returning Significant Cash to Shareholders
HISTORY OF RETURNING SIGNIFICANT CASH TO SHAREHOLDERS Billions mShare Buyback = Dividends ~$18B since 2012 (290% of adj-automotive FCF & >30% of market cap) $5.5 $5.7 2012/2013 2014 2015, 2016 Capital deployment will drive shareholder value GENERAL more
Slide 34: Disciplined Execution of Capital Allocation Strategy Continues
DISCIPLINED EXECUTION OF CAPITAL ALLOCATION STRATEGY CONTINUES 2016 = 2017 — ~$9B in capex ~$9B in capex $0.38 quarterly dividend Maintain $0.38 quarterly dividend Completed $5B share ind ij i repurchase authorization Complete $4B 24 authorization Announced 3" authorization of share ) $1B towards 2"
Slide 35: Well Positioned to Perform Through Cycle
WELL POSITIONED TO PERFORM THROUGH CYCLE... IF A 25% DOWNTURN IN THE U.S., EXPECT TO: Generate positive Continue investment Maintain EBIT-adj. both globally in critical technologies current dividend and in North America and product Continue to deliver through the cycle GENERAL MOTORS
Slide 36: 2017 Outlook
2017 GMC Sierra Denali 2017 OUTLOOK EBIT-adj. EBIT-adj. margin EPS-diluted-adj. Adj. auto FCF Cash returned to shareholders 2017 outlook >2016 22016 22016 $6.00-$6.50 ~$6B >25% >2016
Slide 37: GM Is a Compelling Investment Opportunity
GM IS A COMPELLING INVESTMENT OPPORTUNITY Earnings iplined Capital Robust Downside Growth Allocation Protection Continued EPS Disciplined Enables sustained growth trajectory reinvestment and returning cash through the cycle to shareholders GENERAL MOTORS
Slide 38: Forward Looking Statements
‘could,"*designed,”"effect.”“estimate,”"evaluate,” ll"" would,” or the negative of FORWARD LOOKING STATEMENTS “anticipate, eres raarteli Tales Bical i ‘expect,"“forecast,"“goal,"“initiatve,”“intend,"“may"“objective,”outlook,”“plan,"“potential”“prorities,"“project."“purs et" when,” “wil sumptions and
Slide 39: Select Supplemental Financial Information
== @ anc = & @ © OG ' GENERAL MOTORS SELECT SUPPLEMENTAL FINANCIAL INFORMATION
Slide 40: Non-GAAP Measures
NON-GAAP MEASURES See our Form 10-K and Form 10-Q reports filed with the U.S. Securities and Exchange Commission for a description of certain non-GAAP measures used by GM, including EBIT-adjusted, EPS-diluted- adjusted, ROIC-adjusted and adjusted automotive free cash flow, along with a description o
Slide 41: Reconciliation of EBIT-Adjusted and EPS-Diluted-Adjusted
RECONCILIATION OF EBIT-ADJUSTED AND EPS-DILUTED-ADJUSTED GENERAL MOTORS Net income attributa 53 2 7 Subtract: ut eres (03) (04) (0) ‘Automotive interes 02 02 02 Cain (loss) on ext 02) 02 oa Income Tx ea) (2) 8 ‘Add Back Special te Goodwill impaitmer os oa Impairment charges of property and other ass
Slide 42: Reconciliation of Adjusted Automotive Free Cash Flow
RECONCILIATION OF ADJUSTED AUTOMOTIVE FREE CASH FLOW (Se) aus Automotive Operating Cash Flow x toa Less: Capital Expenditures (7.0) Adjustments! lAdj. Automotive Free Cash Flow Recall Related? Adj. Free Cash Flow - i 3.7 47 48 GENERAL MOTORS
Slide 43: Reconciliation of ROIC-Adjusted
RECONCILIATION OF ROIC-ADJUSTED (se) 201320142015 Numerator: Net income attributable to common stockholders 53 39 97 Subtract: ‘Automotive Interest Expense (03) (04) (04) ‘Automotive interest Income 02 02 02 Gain (105s) on extinguishment of debt (02) 02 oa Income Tox Benefit (Expense) @) (02) 9 Spec
Slide 44: Revenue Reconciliation
REVENUE RECONCILIATION (s5) 2013 2014 2015 2016E Net Revenue 155 156 152 ~165 FX Adjustment (3) (9) (2 FX-Adjusted Revenue
Slide 45: Guidance Reconciliation
GUIDANCE RECONCILIATION GENERAL MoTORS Year Ending Year Ending Dec. 31, 2016 Dec. 31, 2017 Diluted Earnings Per Common Share $5.47-$5.97 $6.00-$6.50 ‘Adjustments 0.04 : Tax effect on adjustments (0.01) : EPS-diluted-ad} $5.50-$6.00 $6.00-$6.50 Year Ending Year Ending {(SB except where noted) Dec. 31
Slide 46: For Additional Information Please Visit
FOR ADDITIONAL INFORMATION PLEASE VISIT: Cadillac Eseal GENERAL MOTORS By | cm Financiat http://www.gm.com/investors [email protected] [email protected] Important information regarding reconciliations to the non-GAAP financial measures contained in this presentation can be found in ou
General Motors — Deutsche Bank Global Auto Industry Conference 2017 on 6ix