<SEC-DOCUMENT>0001193125-17-134782.txt : 20170424
<SEC-HEADER>0001193125-17-134782.hdr.sgml : 20170424
<ACCEPTANCE-DATETIME>20170424170104
ACCESSION NUMBER:		0001193125-17-134782
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20170424
DATE AS OF CHANGE:		20170424
EFFECTIVENESS DATE:		20170424

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			General Motors Co
		CENTRAL INDEX KEY:			0001467858
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLES & PASSENGER CAR BODIES [3711]
		IRS NUMBER:				270756180
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34960
		FILM NUMBER:		17778816

	BUSINESS ADDRESS:	
		STREET 1:		300 RENAISSANCE CENTER
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48265-3000
		BUSINESS PHONE:		313.556.5000

	MAIL ADDRESS:	
		STREET 1:		300 RENAISSANCE CENTER
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48265-3000
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>d368168ddefa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
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<TITLE>DEFA14A</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center">Washington,
D.C. 20549 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12.5pt; font-family:arial" ALIGN="center"><B>SCHEDULE 14A </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Proxy
Statement Pursuant to Section 14(a) of the Securities </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><B>Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:7.5pt; font-family:arial" ALIGN="center"><FONT STYLE="font-family:Times New Roman">&#9745;</FONT> Filed by the
Registrant&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family:Times New Roman">&#9744;</FONT> Filed by a Party other
than the Registrant </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1.00pt solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt; padding-right:2pt"><B>&nbsp;Check the appropriate
box:</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Arial">&nbsp;&nbsp;<FONT
STYLE="font-family:Times New Roman">&#9744;</FONT>&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt">&nbsp;Preliminary Proxy
Statement</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Arial">&nbsp;&nbsp;<FONT
STYLE="font-family:Times New Roman">&#9744;</FONT>&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt">&nbsp;CONFIDENTIAL, FOR USE OF THE
COMMISSION ONLY (AS PERMITTED BY RULE 14a-6(e)(2))</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Arial">&nbsp;&nbsp;<FONT
STYLE="font-family:Times New Roman">&#9744;</FONT>&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt">&nbsp;Definitive Proxy
Statement</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Arial">&nbsp;&nbsp;<FONT
STYLE="font-family:Times New Roman">&#9745;</FONT>&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt">&nbsp;Definitive Additional
Materials</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Arial">&nbsp;&nbsp;<FONT
STYLE="font-family:Times New Roman">&#9744;</FONT>&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt">&nbsp;Soliciting Material Pursuant to
ss.240.14a-12</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:17pt; font-family:arial" ALIGN="center"><FONT COLOR="#0033a0"><B>GENERAL MOTORS COMPANY </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><I>(Name of Registrant as Specified In Its Charter) </I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:arial" ALIGN="center"><I>(Name of Person(s) Filing Proxy Statement, if other than the Registrant) </I></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3" STYLE="BORDER:1px solid #000000; padding-left:8pt; padding-right:2pt"><B>&nbsp;Payment of Filing Fee (Check the appropriate box):</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:Arial">&nbsp;&nbsp;<FONT
STYLE="font-family:Times New Roman">&#9745;</FONT>&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"><FONT STYLE="font-family:arial; "><B>&nbsp;No fee required.</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:Arial">&nbsp;&nbsp;<FONT
STYLE="font-family:Times New Roman">&#9744;</FONT>&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"><FONT STYLE="font-family:arial; "><B>&nbsp;Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:8pt; font-family:arial">&nbsp;(1)&nbsp;&nbsp;&nbsp;Title of each class of securities to which transaction applies:</P>
<P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:8pt; font-family:arial">&nbsp;(2)&nbsp;&nbsp;&nbsp;Aggregate number of securities to
which transaction applies:</P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:8pt; font-family:arial">&nbsp;(3)&nbsp;&nbsp;&nbsp;Per unit price or other underlying value of transaction computed pursuant to Exchange Act
Rule&nbsp;0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):</P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:8pt; font-family:arial">&nbsp;(4)&nbsp;&nbsp;&nbsp;Proposed maximum aggregate value of transaction:</P>
<P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2.00em; text-indent:-2.00em; font-size:8pt; font-family:arial">&nbsp;(5)&nbsp;&nbsp;&nbsp;Total fee paid:</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Arial; font-size:8pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:Arial">&nbsp;&nbsp;<FONT
STYLE="font-family:Times New Roman">&#9744;</FONT>&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:arial; font-size:8pt"><B>&nbsp;Fee paid previously with
preliminary materials.</B></P></TD></TR>
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<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:Arial">&nbsp;&nbsp;<FONT
STYLE="font-family:Times New Roman">&#9744;</FONT>&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:0.25em; font-size:8pt; font-family:arial"><B>Check box if any part of the fee
is offset as provided by Exchange Act Rule 0-11(a)(2) and &nbsp;identify the filing for which the offsetting fee was paid previously. Identify the previous filing by &nbsp;registration statement number, or the Form or Schedule and the date of its
filing.</B></P></TD></TR>
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<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:8pt; font-family:arial">&nbsp;(1)&nbsp;&nbsp;&nbsp;Amount Previously Paid:</P> <P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:8pt; font-family:arial">&nbsp;(2)&nbsp;&nbsp;&nbsp;Form, Schedule or Registration Statement No.:</P>
<P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:8pt; font-family:arial">&nbsp;(3)&nbsp;&nbsp;&nbsp;Filing Party:</P>
<P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2.00em; text-indent:-2.00em; font-size:8pt; font-family:arial">&nbsp;(4)&nbsp;&nbsp;&nbsp;Date Filed:</P></TD></TR>
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<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:20pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#77787b"><B>G&nbsp;E&nbsp;N&nbsp;E&nbsp;R&nbsp;A&nbsp;L&nbsp;&nbsp;&nbsp;&nbsp;M&nbsp;O&nbsp;T&nbsp;O&nbsp;
R&nbsp;S </B></FONT></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:12pt; font-family:ARIAL"><FONT COLOR="#17468f"><B>Dear Fellow General Motors Shareholder: </B></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:10pt; font-family:ARIAL"><B>Your Board of Directors and management team have been executing a transformational plan that has delivered three years of record
earnings and cash flow.</B> Since 2013, <FONT STYLE="white-space:nowrap">EPS-diluted</FONT> has grown 152% to $6.00, while <FONT STYLE="white-space:nowrap">EPS-diluted-adjusted</FONT> has grown 92% to a record $6.12 in 2016. Other 2016 records
include net revenue, EBIT-adjusted, EBIT-adjusted margin and adjusted automotive free cash flow. As a result of these accomplishments, we expect to return approximately $7&nbsp;billion in cash to shareholders in 2017. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:10pt; font-family:ARIAL">Now, just as we are successfully navigating a period of profound industry change, one of our shareholders, hedge fund Greenlight
Capital, is asking you to approve a highly risky proposal to create an unprecedented dual-class share structure. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:11pt; font-family:ARIAL"><B>Greenlight&#146;s proposal would eliminate the dividend on your existing common stock and transfer it to a new security that
Greenlight calls a &#147;Dividend Share.&#148; We believe Greenlight&#146;s proposal is fundamentally flawed and, if implemented, would pose serious risks for the value of your investment. Specifically, we believe: </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#fec745">&#9726;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The fundamental factors driving GM&#146;s valuation are NOT addressed by Greenlight&#146;s proposed financial engineering and would not increase value. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#fec745">&#9726;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The proposed dual-class structure would lead to the loss of GM&#146;s investment-grade credit rating. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#fec745">&#9726;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Eliminating the dividend on GM&#146;s existing common stock and issuing new Dividend Shares would lead to significant selling pressure and concern and confusion among our investors, depressing our share price. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#fec745">&#9726;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Distributing a large volume of an unprecedented security like the Dividend Shares, which have no established market depth or liquidity, also would likely lead to selling pressure. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#fec745">&#9726;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The proposed dual-class structure would create complex governance conflicts because the Board would be required to consider and respond to divergent expectations and interests of owners of two distinct classes of common
stock in their strategic and capital allocation decision-making. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:10pt; font-family:ARIAL">Our analysis of the proposal was objective and thorough and included active participation by
our CEO, CFO and Board over a seven-month period. We received expert input from three <FONT STYLE="white-space:nowrap">top-tier</FONT> investment banks. We also formally engaged with the major credit rating agencies and presented the proposal to
them fully and fairly. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:10pt; font-family:ARIAL"><B>GM&#146;s Board candidates are exceptionally qualified individuals with the expertise necessary to drive
shareholder value. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:10pt; font-family:ARIAL">To support its proposal, Greenlight has nominated a slate of three candidates to replace three of your
highly qualified directors. After an objective review, consistent with our established process, the governance committee of your Board determined that GM&#146;s candidates are the best qualified. We also believe a vote for any of Greenlight&#146;s
candidates is an endorsement of Greenlight&#146;s flawed plan. </P> <P STYLE="margin-top:16pt; margin-bottom:0pt; margin-left:4%; margin-right:4%; font-size:15pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#77787b">For All These Reasons, Your
Board Of Directors Strongly Recommends That You Vote <B><FONT STYLE="font-family:ARIAL" COLOR="#17468f"><U>AGAINST</U></FONT></B> The Greenlight Proposal And Vote <B><FONT STYLE="font-family:ARIAL" COLOR="#17468f"><U>FOR ALL</U></FONT></B> Of Your
</FONT><FONT STYLE="font-family:ARIAL" COLOR="#17468f"><U><B>BOARD&#146;s</B></U></FONT><FONT STYLE="font-family:ARIAL" COLOR="#77787b"> Nominees By Using The Enclosed <B><FONT STYLE="font-family:ARIAL" COLOR="#17468f"><U>WHITE</U></FONT></B> Proxy
Card To Vote Today. </FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">If you have questions about how to vote your shares, or need additional assistance,</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">please contact the firm assisting us in the solicitation of proxies:</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; font-size:10pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#17468f"><B>INNISFREE M&amp;A INCORPORATED</B></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; font-size:10pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#17468f"><B>Shareholders Call Toll-Free: (877)
<FONT STYLE="white-space:nowrap">825-8964&nbsp;&nbsp;&nbsp;&nbsp;Banks</FONT> and Brokers Call Collect: (212) <FONT STYLE="white-space:nowrap">750-5833</FONT></B></FONT></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><B><FONT COLOR="#17468f">REMEMBER:</FONT></B> We urge you <B><FONT
 COLOR="#17468f"><U>NOT</U></FONT> </B>to vote using any green card sent to you by</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center">Greenlight, as doing so will revoke your vote on the <B><FONT
 COLOR="#17468f"><U>WHITE</U></FONT> </B>proxy card.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #77787b; font-size:12pt; font-family:ARIAL"><FONT COLOR="#17468f"><B>GM&#146;s Strong Track Record of Value Creation</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:10pt; font-family:ARIAL">Your Board and management team are delivering higher growth and higher value for shareholders. Our
disciplined capital allocation is focused on higher-return investments in our core automotive business and in new technologies that are enabling us to lead the future of personal mobility. This plan is delivering results and positioning the company
for long-term success: </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">GM has achieved three consecutive years of record results, met its financial commitments and returned significant capital to its owners. GM expects to return approximately $7&nbsp;billion this year, bringing total cash
returns to approximately $25&nbsp;billion since 2012. This represents approximately half of GM&#146;s current market capitalization and more than 90% of its adjusted automotive free cash flow over the same period. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Most recently, the agreement to sell GM&#146;s Opel/Vauxhall subsidiary and GM Financial&#146;s European operations to PSA Group will, upon close of the transaction, immediately improve GM&#146;s EBIT-adjusted,
EBIT-adjusted margins and adjusted automotive free cash flow, reducing the cash balance requirement under GM&#146;s capital allocation framework by $2&nbsp;billion. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:10pt; font-family:ARIAL">Our disciplined capital allocation framework supports our progress. Your Board and management
frequently evaluate the framework and review various capital allocation strategies. We regularly engage with shareholders and receive their input on our capital allocation program. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #77787b; font-size:12pt; font-family:ARIAL"><FONT COLOR="#17468f"><B>We Believe Greenlight&#146;s Idea Puts GM&#146;s Performance&#151;and Your Investment&#151;At
Risk</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:10pt; font-family:ARIAL">Despite our proven track record, our good-faith engagement and our thorough evaluation of its proposal,
we believe Greenlight is now seeking to pressure your company into implementing a risky financial engineering e<B>xperimen</B>t that would undermine our successful plan and would not create additional value. </P>
<P STYLE="margin-top:20pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:11pt; font-family:ARIAL"><B>We believe the fundamental factors driving GM&#146;s valuation are NOT addressed by Greenlight&#146;s proposed financial
engineering. </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">As Greenlight has already acknowledged, the proposed dual-class common stock structure would not create additional intrinsic value. It would not help GM sell more vehicles, drive higher profitability or generate greater
cash flow. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="margin-top:20pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:11pt; font-family:ARIAL"><B>We believe that implementation of the proposed dual-class structure would lead to the loss
of GM&#146;s investment-grade credit rating. </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">A strong investment-grade balance sheet is critical to GM&#146;s success. We believe the distribution of Dividend Shares would result in adverse credit rating actions, including a likely downgrade to <FONT
STYLE="white-space:nowrap">non-investment-grade.</FONT> </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">The rating agencies&#146; reactions to Greenlight&#146;s proposal have confirmed this determination. Moody&#146;s and S&amp;P have issued reports concluding that the Greenlight proposal would represent a credit negative
if implemented. </TD>
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<TD ALIGN="left" VALIGN="top">A downgrade would have <FONT STYLE="white-space:nowrap">far-reaching</FONT> consequences, including significantly impacting GM&#146;s access to capital, overall cost of capital and enterprise risk. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">A <FONT STYLE="white-space:nowrap">non-investment-grade</FONT> rating would have an approximately $1&nbsp;billion EBIT impact on GM Financial, put $1&nbsp;billion of profit at risk for the automotive company and
necessitate carrying approximately <FONT STYLE="white-space:nowrap">$5-$10&nbsp;billion</FONT> in additional cash on the GM balance sheet. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">It would also limit GM&#146;s financial flexibility and adversely affect the company&#146;s risk profile, including GM&#146;s ability to execute its captive finance strategy, access capital markets efficiently and
execute revolver renewals. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
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<TD ALIGN="left" VALIGN="top"><I>GM Financial plays a critically important role in driving vehicle sales and increasing long-term customer loyalty. Impairing its effectiveness&#151;particularly its ability to provide financing support in a
downturn&#151;would create a serious competitive disadvantage. </I></TD>
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</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:11pt; font-family:ARIAL"><B>We believe eliminating the dividend on GM&#146;s existing common stock and issuing new Dividend
Shares would lead to significant selling pressure, including concern and confusion among our investors, depressing our share price. </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Overall, we believe the terms and conditions Greenlight assigns to its two new classes of shares would make the existing common stock less attractive to buyers and significantly weaken demand. This would likely lead
many of the company&#146;s current investors to sell, resulting in depressed pricing for the new security. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="margin-top:20pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:11pt; font-family:ARIAL"><B>We believe distributing a large volume of an unprecedented security like the Dividend
Shares, which have no established market depth or liquidity, also would likely lead to selling pressure. </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">In its presentations to the company, Greenlight has acknowledged that there is no perfect precedent for the Dividend Shares. We believe there is no precedent at all and that equity income funds are unlikely to buy the
new Dividend Shares. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The proposed Dividend Shares lack both earnings upside participation and downside protection, calling into question whether there will be sufficient demand for the security. </TD>
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<TD ALIGN="left" VALIGN="top">We also believe that retail investor demand is unlikely to offset the lack of institutional equity investor demand due to the unprecedented size, complexity and unusual nature of the share distribution. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="margin-top:20pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:11pt; font-family:ARIAL"><B>We believe the proposed dual-class structure would also create complex governance conflicts.
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">The dual-class structure would require the Board to consider and respond to divergent expectations and interests of owners of two distinct classes of common stock in their strategic and capital allocation
decision-making. Decisions would need to be made about capital allocation with one set of shareholders focused on long-term earnings growth and the other set of shareholders focused on fixed income. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:10pt; font-family:ARIAL">In summary, we believe the risks are too high for an unproven and entirely speculative idea
that will have <B>no positive effect on GM&#146;s underlying business or cash flows.</B> It has nothing to do with selling more cars, trucks and crossovers, and everything to do with overly complex financial engineering that has no demonstrated path
to delivering value. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #77787b; font-size:12pt; font-family:ARIAL"><FONT COLOR="#17468f"><B>Your Choice&#151;GM&#146;s Strong Track Record of Long-Term Value Creation or
Greenlight&#146;s Financial Engineering Experiment</B></FONT></P></TD>
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<TD ALIGN="left" VALIGN="top">Your Board and management team continue to take bold, decisive action that is transforming the company. We are delivering higher earnings growth and higher value for shareholders through disciplined capital allocation
to our higher-return investments in our core automotive business and in new technologies that are enabling us to lead the future of personal mobility. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#fec745">&#9726;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">By Greenlight&#146;s own admission, there is no established precedent for its proposal. The materials Greenlight provided to us state that any resulting value creation is &#147;&#133;an opinion and is not
provable.&#148; Your Board believes that GM&#146;s shareholders should not be the test case for an unprecedented and untested capital structure. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#fec745">&#9726;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">GM can best serve its shareholders by staying laser-focused on continuing to lead through a time of significant change. We will continue to execute our existing strategy, which is delivering sustainable long-term value
for shareholders. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


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<TR BGCOLOR="#17468f" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:16pt">
<TD VALIGN="top">&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="96%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:12pt" ALIGN="center">


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<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:12pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #77787b; font-size:12pt; font-family:ARIAL"><FONT COLOR="#17468f"><B>GM&#146;s Highly Expert Board of Directors is Focused on Driving Value for All
Shareholders</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:10pt; font-family:ARIAL">GM directors have been specifically identified and recruited to align the strategic needs of the
business with exceptional individuals who can deliver shareholder value. Your current Board is composed of world-class leaders who possess: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#fec745">&#9726;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The collective skills and expertise needed to drive effective oversight and execution of GM&#146;s strategy and management accountability. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#fec745">&#9726;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Significant global corporate strategy, operational, commercial and finance experience, including several Board members with exceptional track records of creating long-term shareholder value. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" COLOR="#fec745">&#9726;</FONT></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">A diverse range of tenures due to regular renewal, adding carefully targeted capabilities and perspectives that will best enable the company to navigate evolving opportunities and challenges. </TD>
<TD WIDTH="2%">&nbsp;</TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:10pt; font-family:ARIAL"><B>Your Board and management are effecting real, positive change and increased growth&#151;and
we will continue working to do so with your support.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:10pt; font-family:ARIAL"><B><FONT STYLE="font-family:ARIAL" COLOR="#17468f">We believe a vote for
any of Greenlight&#146;s nominees to the Board will be a vote for the flawed and highly risky idea of a single shareholder.</FONT> By contrast, your Board has demonstrated its commitment to driving value for ALL shareholders.</B> </P>
<P STYLE="margin-top:22pt; margin-bottom:0pt; margin-left:4%; margin-right:4%; font-size:16pt; font-family:ARIAL" ALIGN="center"><FONT COLOR="#77787b">To Protect the Value of Your Investment in General Motors, </FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; margin-right:4%; font-size:16pt; font-family:ARIAL" ALIGN="center"><FONT STYLE="font-family:ARIAL"><B><U>PLEASE VOTE THE <FONT STYLE="font-family:ARIAL" COLOR="#17468f">WHITE</FONT><FONT
STYLE="font-family:ARIAL"> PROXY CARD TODAY</FONT></U></B></FONT><FONT STYLE="font-family:ARIAL" COLOR="#77787b">. We Urge You </FONT><FONT STYLE="font-family:ARIAL"><B><U>NOT</U></B></FONT><FONT STYLE="font-family:ARIAL" COLOR="#77787b"> to Vote
Using Any Green Proxy Card You Might Receive from Greenlight. </FONT></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; margin-left:2%; margin-right:2%; font-size:10pt; font-family:ARIAL">Thank you for your support. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top">Sincerely,</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="32"></TD>
<TD HEIGHT="32" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em">


<IMG SRC="g368168txpg04a.jpg" ALT="LOGO">
</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em">


<IMG SRC="g368168txpg04b.jpg" ALT="LOGO">
</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top"><FONT COLOR="#17468f"><B>Mary T. Barra</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#17468f"><B>Theodore M. Solso</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10pt">
<TD VALIGN="top">Chairman&nbsp;&amp; Chief Executive Officer</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Independent Lead Director</TD></TR>
</TABLE> <P STYLE="font-size:50pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; ">
<TD VALIGN="top"> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.50pt solid #17468f;width:10%">&nbsp;</P></TD></TR>
</TABLE> <DIV STYLE="position:relative;float:left; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:12pt; font-size:6pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#77787b"><B>Forward Looking Statements:</B> This document may include
forward-looking statements. These statements are based on current expectations about possible future events and thus are inherently uncertain. Our actual results may differ materially from forward-looking statements due to a variety of factors,
including: (1)&nbsp;our ability to deliver new products, services and experiences that attract new, and are desired by existing, customers and to effectively compete in autonomous, ride-sharing and transportation as a service; (2)&nbsp;sales of <FONT
STYLE="white-space:nowrap">full-size</FONT> <FONT STYLE="white-space:nowrap">pick-up</FONT> trucks and SUVs, which may be affected by increases in the price of oil; (3)&nbsp;the volatility of global sales and operations; (4)&nbsp;aggressive
competition, including the impact of new market entrants; (5)&nbsp;changes in, or the introduction of novel interpretations of, laws, regulations or policies particularly those relating to free trade agreements, tax rates and vehicle safety and any
government actions that may affect the production, licensing, distribution, pricing, or selling of our products; (6)&nbsp;our joint ventures, which we cannot operate solely for our benefit and over which we may have limited control;
(7)&nbsp;compliance with laws and regulations applicable to our industry, including those regarding fuel economy and emissions; (8)&nbsp;costs and risks associated with litigation and government investigations; (9)&nbsp;compliance with the terms of
the Deferred Prosecution Agreement; (10)&nbsp;our ability to maintain quality control over our vehicles and avoid recalls and the cost and effect on our reputation and products; (11)&nbsp;the ability of suppliers to deliver parts, systems and
components without disruption and on schedule; (12)&nbsp;our dependence on our manufacturing facilities; (13)&nbsp;our ability to realize production efficiencies and cost reductions; (14)&nbsp;our ability to successfully restructure operations in
various countries; (15)&nbsp;our ability to manage risks related to security breaches and other disruptions to vehicles, information technology networks and systems; (16)&nbsp;our ability to develop captive financing capability through GM Financial;
(17)&nbsp;significant increases in pension expense or projected pension contributions; (18)&nbsp;significant changes in the economic, political, and regulatory environment, market conditions, and foreign currency exchange rates; and
(19)&nbsp;uncertainties associated with the consummation of the sale of Opel/Vauxhall to the PSA Group, including satisfaction of the closing conditions. A further list and description of these risks, uncertainties and other factors can be found in
our Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the fiscal year ended December&nbsp;31, 2016, and our subsequent filings with the Securities and Exchange Commission. GM cautions readers not to place undue reliance on
forward-looking statements. GM undertakes no obligation to update publicly or otherwise revise any forward-looking statements. </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; margin-left:12pt; font-size:6pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#77787b"><B><FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Measures:</B> See our Form
<FONT STYLE="white-space:nowrap">10-K</FONT> and Form <FONT STYLE="white-space:nowrap">10-Q</FONT> reports filed with the SEC for a description of certain <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measures used by GM, including EBIT-adjusted,
<FONT STYLE="white-space:nowrap">EPS-diluted</FONT> adjusted, ROIC-adjusted, and adjusted automotive free cash flow, along with a description of various uses for such measures. Our calculation of these
<FONT STYLE="white-space:nowrap">non-GAAP</FONT> measures are set forth within these reports and may not be comparable to similarly titled measures of other companies due to potential differences between companies in the method of calculation. As a
result, the use of these <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measures has limitations and should not be considered superior to, in isolation from, or as a substitute for, related U.S. GAAP measures.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:2%; width:48%;padding-right:1%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6pt; font-family:ARIAL" ALIGN="justify"><FONT COLOR="#77787b"><B>Important Additional Information Regarding Proxy Solicitation:</B> General Motors
Company (&#147;GM&#148;) has filed a definitive proxy statement and form of WHITE proxy card with the U.S. Securities and Exchange Commission (the &#147;SEC&#148;) in connection with the solicitation of proxies for GM&#146;s 2017 Annual Meeting. GM,
its directors and certain of its executive officers may be deemed participants in the solicitation of proxies from shareholders in respect of the 2017 Annual Meeting. Information regarding the names of GM&#146;s directors and executive officers and
their respective interests in GM by security holdings or otherwise is set forth in the definitive proxy statement. Details concerning the nominees of GM&#146;s Board of Directors for election at the 2017 Annual Meeting are included in the definitive
proxy statement. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SHAREHOLDERS OF THE COMPANY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING THE COMPANY&#146;S DEFINITIVE PROXY STATEMENT AND ANY SUPPLEMENTS
THERETO AND ACCOMPANYING WHITE PROXY CARD, BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors and shareholders can obtain a copy of the definitive proxy statement and other relevant documents filed by GM free of charge from the SEC&#146;s
website, www.sec.gov. GM&#146;s shareholders can also obtain, without charge, a copy of the definitive proxy statement and other relevant documents filed by GM by directing a request by mail to GM Shareholder Relations at General Motors Company,
Mail Code <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">482-C23-D24,</FONT></FONT> 300 Renaissance Center, Detroit, Michigan 48265 or by email to shareholder.relations@gm.com, by calling GM&#146;s proxy solicitor, Innisfree
M&amp;A Incorporated, toll-free at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-877-825-8964,</FONT></FONT></FONT> or from the investor relations section of GM&#146;s website,
http://www.gm.com/investors. </FONT></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:6pt">
<TD VALIGN="bottom"><FONT COLOR="#77787b"><B>Reconciliation of EPS-Diluted-Adjusted</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right"><FONT COLOR="#77787b"><B>2013</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right"><FONT COLOR="#77787b"><B>2014</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right"><FONT COLOR="#77787b"><B>2015</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right"><FONT COLOR="#77787b"><B>2016</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1px; ">
<TD COLSPAN="16" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:ARIAL"><FONT COLOR="#77787b"><B>Diluted earnings per common share</B></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#77787b"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b"><B>2.38</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#77787b"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b"><B>1.65</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#77787b"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b"><B>5.91</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#77787b"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b"><B>6.00</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:ARIAL"><FONT COLOR="#77787b">Adjustments</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b">1.11</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b">1.73</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b">1.68</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b">0.19</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:ARIAL"><FONT COLOR="#77787b">Tax effect of adjustments</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b">(0.03)</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b">(0.33)</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b">(0.13)</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b">(0.07)</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:ARIAL"><FONT COLOR="#77787b">Tax adjustments</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b">(0.28)</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b">(2.44)</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:6pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:6pt; font-family:ARIAL"><FONT COLOR="#77787b">Impact of costs related to recall</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b">1.07</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#77787b">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#77787b">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px; ">
<TD COLSPAN="16" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
