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2017 INTEGRATED REPORT - valeo.com

2017 INTEGRATED REPORT EXTRACT FROM THE REGISTRATION DOCUMENTP ermanent magnet synchronous motor (85 kW) Valeo Siemens eAutomotive technologyValeo INTEGRATED ReportCONTENTSM essage from Jacques Aschenbroich, Chairman and Chief Executive Officer 4 Technological innovation, growth and financial performance 5 KEY FIGURES IN 2017 6 Business review and results 6 Cash flow and financial structure 8 Other profitability indicators 9 Non-financial indicators 9 TRENDS 10In a changing world, electrification, the autonomous vehicle and digital mobility are disrupting the automotive industry 10 Increasingly stringent regulations aimed at reducing air pollution 10A world of transformations 11 The three technological revolutions taking place in the automotive are accelerating in Asia, the world s largest market 13 STRATEGY

02 Valeo Integrated Report — 2017 Valeo Integrated Report — 2017 111,600 EMPLOYEES 20 RESEARCH CENTERS 33 COUNTRIES 35 DEVELOPMENT CENTERS 184 PLANTS 15 DISTRIBUTION PLATFORMS Takeover of Ichikoh, Japan's leading automotive lighting company Acquisition f o FTE automotive, a leading producer of hydraulic actuators for automatic transmissions

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