Groupe PSA: Signature of a Social Solidarity Agreement, Protecting the Health of Employees and the Company

• An agreement signed by 4 out of 5 representative French trade union organizations, representing more than 80% of employees
• Implementation of the protocol for reinforced health measures, built and validated with medical teams, involving union partners, and monitored by auditors
• Creation of a solidarity fund to guarantee 100% salary compensation to all employees
• Possible adaptation of the annual site closure calendar, with a guarantee of 12 consecutive days of leave between July 1 and August 31

RUEIL-MALMAISON, France--(BUSINESS WIRE)--Regulatory News:

“This agreement brings us together and prepares our future. It illustrates the quality of social dialogue in our Group, which helps to protect the health and safety of employees, while preserving the sustainability of our company. It demonstrates our ability to move forward together in all situations, with responsible action, and is a strength for our business," says Xavier Chéreau, EVP Human Resources and Transformation of Groupe PSA (Paris:UG).

In this context of the ongoing coronavirus outbreak, the Group's priority is to protect its employees. Today, while the sites are largely closed, Groupe PSA remains active and united and signs a social solidarity agreement in France with its social partners, which protects the health of employees and the company.

The Group acts without compromise and has implemented a protocol of reinforced sanitary measures in all its production, sales, after sales and in its tertiary sites. This protocol, validated by our health services, and with which the trade union organizations have been associated, is already largely deployed. The enhanced protocol measures are subject to regular internal audits and appraisal by the CSSCTs of each site.

In addition, this agreement includes the creation of a solidarity fund within the Group, ensuring the full compensation to all employees working in France during this period of partial activity. It will be made with the deduction of two days of ‘holidays’ from the managers account, one day from workers and by a contribution from the company.

Finally, the agreement sets the framework for an adaptation of the annual closings calendar, which will take into account the developments of the automotive market. The objective is, while preserving summer vacation time for everyone, to open the possibility for each site to adjust the annual closure period.

About Groupe PSA

Groupe PSA designs unique automotive experiences and delivers mobility solutions to meet all customer expectations. The Group has five car brands, Peugeot, Citroën, DS, Opel and Vauxhall and provides a wide array of mobility and smart services under the Free2Move brand. Its ‘Push to Pass’ strategic plan represents a first step towards the achievement of the Group’s vision to be “a global carmaker with cutting-edge efficiency and a leading mobility provider sustaining lifetime customer relationships”. An early innovator in the field of autonomous and connected cars, Groupe PSA is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia..

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