<SEC-DOCUMENT>0001648416-19-000127.txt : 20191104
<SEC-HEADER>0001648416-19-000127.hdr.sgml : 20191104
<ACCEPTANCE-DATETIME>20191104120616
ACCESSION NUMBER:		0001648416-19-000127
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190930
FILED AS OF DATE:		20191104
DATE AS OF CHANGE:		20191104

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ferrari N.V.
		CENTRAL INDEX KEY:			0001648416
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLES & PASSENGER CAR BODIES [3711]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			P7
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37596
		FILM NUMBER:		191188828

	BUSINESS ADDRESS:	
		STREET 1:		VIA ABETONE INFERIORE N. 4
		CITY:			MARANELLO
		STATE:			L6
		ZIP:			I-41053
		BUSINESS PHONE:		00390536949111

	MAIL ADDRESS:	
		STREET 1:		VIA ABETONE INFERIORE N. 4
		CITY:			MARANELLO
		STATE:			L6
		ZIP:			I-41053

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NEW BUSINESS NETHERLANDS N.V.
		DATE OF NAME CHANGE:	20150717
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>fnv2019q3resultsprcov.htm
<DESCRIPTION>6-K
<TEXT>
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<div><a name="s90e6f791389249bd82ee0398909fd6c3"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;"><hr></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:13pt;"><font style="font-family:inherit;font-size:13pt;font-weight:bold;">UNITED STATES</font></div><div style="line-height:120%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:13pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font><font style="font-family:inherit;font-size:14pt;font-weight:bold;">&#32;</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Washington, D.C. 20549</font></div><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">_______________________________</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:center;font-size:13pt;"><font style="font-family:inherit;font-size:13pt;font-weight:bold;">FORM 6-K</font></div><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">_______________________________</font></div><div style="line-height:120%;text-align:center;font-size:13pt;"><font style="font-family:inherit;font-size:13pt;font-weight:bold;">REPORT OF FOREIGN PRIVATE ISSUER </font></div><div style="line-height:120%;text-align:center;font-size:13pt;"><font style="font-family:inherit;font-size:13pt;font-weight:bold;">PURSUANT TO RULE 13a-16 OR 15d-16 OF </font></div><div style="line-height:120%;text-align:center;font-size:13pt;"><font style="font-family:inherit;font-size:13pt;font-weight:bold;">THE SECURITIES EXCHANGE ACT OF 1934</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">For the month of November 2019</font></div><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Commission File No. 001-37596</font></div><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">_______________________________</font></div><div style="line-height:120%;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;font-weight:bold;">FERRARI N.V. </font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">(Translation of Registrant&#8217;s Name Into English)</font></div><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">_______________________________</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Via Abetone Inferiore n.4</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">I-41053 Maranello (MO)</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Italy</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Tel. No.: +39 0536 949111</font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">(Address of Principal Executive Offices)</font></div><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">_______________________________</font></div><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Form 20-F </font><font style="font-family:Wingdings;font-size:8pt;">x</font><font style="font-family:inherit;font-size:9pt;">&#32;Form 40-F </font><font style="font-family:Wingdings;font-size:8pt;">o</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule101(b)(1): </font><font style="font-family:Wingdings;font-size:8pt;">o</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule101(b)(7): </font><font style="font-family:Wingdings;font-size:8pt;">o</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Yes </font><font style="font-family:Wingdings;font-size:8pt;">o</font><font style="font-family:inherit;font-size:9pt;">&#32;&#32;No </font><font style="font-family:Wingdings;font-size:8pt;">x</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">If &#8220;Yes&#8221; is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3&#173;2(b): N/A</font></div><div style="line-height:174%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;"><hr></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:174%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:11pt;">The following exhibit is furnished herewith:</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:120px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:29px;"><font style="font-family:inherit;font-size:11pt;">Exhibit 99.1</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Press release issued by Ferrari N.V. dated November 4, 2019.</font></div></td></tr></table><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-91px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:174%;padding-bottom:8px;text-align:left;padding-left:120px;text-indent:-91px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:174%;padding-bottom:8px;text-align:left;padding-left:120px;text-indent:-91px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:174%;padding-bottom:8px;text-align:left;padding-left:120px;text-indent:-91px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">SIGNATURE</font></div><div style="line-height:174%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</font></div><div style="line-height:174%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:91.40625%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:46%;"></td><td style="width:5%;"></td><td style="width:8%;"></td><td style="width:41%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Date:  November 4, 2019</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">FERRARI N.V.</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:28px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:28px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:28px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:28px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">By:</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#160;/s/ Antonio Picca Piccon</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Name:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Antonio Picca Piccon</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Title:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Chief Financial Officer</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:174%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Index of Exhibits</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Exhibit</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Number</font><font style="font-family:inherit;font-size:11pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Description of Exhibit</font></div><div style="line-height:100%;text-align:left;padding-left:66px;text-indent:-67px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:66px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">99.1</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Press release issued by Ferrari N.V. dated November 4, 2019.</font></div></td></tr></table><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</body>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>fnvq32019resultspr.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<div><a name="s48B5D7C2BD1724A8194E12B3B8A02A89"></a></div><div><div style="line-height:120%;text-align:right;padding-left:302px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;font-weight:bold;">Exhibit 99.1</font></div><div style="line-height:120%;text-align:center;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;font-weight:bold;">SOLID Q3 2019 ON ALL METRICS.</font></div><div style="line-height:120%;text-align:center;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;font-weight:bold;">ROBUST PERFORMANCE LEADS TO UPGRADING 2019 GUIDANCE.</font></div><div style="line-height:120%;text-align:center;font-size:11.5pt;"><font style="font-family:inherit;font-size:11.5pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:9px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:9pt;padding-left:-10px;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Total shipments of 2,474 units, up +9.4%</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:9px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:9pt;padding-left:-10px;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Net revenues of Euro 915 million, up +9.2% or +7.1% at constant currency</font><font style="font-family:inherit;font-size:9pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup>&#160;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:9px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:9pt;padding-left:-10px;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Adj. EBITDA</font><font style="font-family:inherit;font-size:9pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font><font style="font-family:inherit;font-size:9pt;font-weight:bold;">&#32;of Euro 311 million, up +11.5% with an EBITDA margin of 33.9% </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:9px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:9pt;padding-left:-10px;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Adj. diluted EPS</font><font style="font-family:inherit;font-size:9pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font><font style="font-family:inherit;font-size:9pt;font-weight:bold;">&#32;of Euro 0.90 (+16.9%)</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:9px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:9pt;padding-left:-10px;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Industrial free cash flow</font><font style="font-family:inherit;font-size:9pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2) </sup></font><font style="font-family:inherit;font-size:9pt;font-weight:bold;">generation of Euro 138 million</font></div></td></tr></table><div style="line-height:120%;text-align:left;padding-left:9px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.42196531791907%;border-collapse:collapse;text-align:left;"><tr><td colspan="17"></td></tr><tr><td style="width:8%;"></td><td style="width:1%;"></td><td style="width:8%;"></td><td style="width:1%;"></td><td style="width:8%;"></td><td style="width:8%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:31%;"></td><td style="width:7%;"></td><td style="width:1%;"></td><td style="width:7%;"></td><td style="width:1%;"></td><td style="width:8%;"></td><td style="width:7%;"></td><td style="width:1%;"></td></tr><tr><td colspan="6" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the three months ended</font></div></td><td colspan="4" rowspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In Euro million, <br> unless otherwise stated)</font></div></td><td colspan="7" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the nine months ended</font></div></td></tr><tr><td colspan="6" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td><td colspan="7" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change</font></div></td><td colspan="4" style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,474</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,262</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">212</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">9</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-bottom:2px;padding-top:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Shipments (in units)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">7,755</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6,853</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">902</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">13</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">915</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">838</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">77</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #999999;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">9</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-bottom:2px;padding-top:2px;border-top:1px solid #999999;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Net revenues</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,839</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,575</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">264</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">10</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">311</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">278</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">33</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">11</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-bottom:2px;padding-top:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">EBITDA</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2)</sup></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">936</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">841</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">95</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">11</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">311</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">278</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">33</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">11</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-bottom:2px;padding-top:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Adjusted EBITDA</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2)</sup></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">936</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">840</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">96</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">11</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">33.9</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">33.2</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td colspan="4" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">+70 bps</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Adjusted EBITDA margin</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2)</sup></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">33.0</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">32.6</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">+40 bps</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">227</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">203</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">24</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">12</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-bottom:2px;padding-top:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">EBIT</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">698</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">631</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">67</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">11</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">227</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">203</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">24</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">12</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-bottom:2px;padding-top:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Adjusted EBIT</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2)</sup></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">698</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">630</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">68</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">11</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">24.8</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">24.2</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td colspan="4" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">+60 bps</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Adjusted EBIT margin</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2)</sup></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">24.6</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">24.5</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">+10 bps</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">169</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">287</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(118)</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(41</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-bottom:2px;padding-top:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%)</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Net profit</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">533</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">596</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(63)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(11</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%)</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">169</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">146</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">23</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">15</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-bottom:2px;padding-top:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Adjusted net profit</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2)</sup></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">533</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">454</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">79</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">17</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.90</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1.52</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(0.62)</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(41</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-bottom:2px;padding-top:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%)</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Basic earnings per share (in Euro)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.82</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.15</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(0.33)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(10</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%)</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.90</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1.51</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(0.61)</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(40</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-bottom:2px;padding-top:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%)</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Diluted earnings per share (in Euro)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.81</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.14</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(0.33)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(11</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%)</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.90</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.78</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.12</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">15</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-bottom:2px;padding-top:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:8pt;">Adjusted basic earnings per share</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:8pt;">&#160;(in Euro)</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2)</sup></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.82</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.40</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.42</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">18</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.90</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.77</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.13</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">17</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-bottom:2px;padding-top:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Adjusted diluted earnings per share (in Euro)</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2)</sup></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.81</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.39</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;background-color:#f2f2f2;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.42</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">18</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="4" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;padding-left:9px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:4pt;"><font style="font-family:inherit;font-size:4pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:0px;text-indent:0px;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.1907514450867%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:7%;"></td><td style="width:71%;"></td><td style="width:17%;"></td><td style="width:5%;"></td></tr><tr><td colspan="4" style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Upgraded 2019 Guidance: </font></div></td></tr><tr><td colspan="4" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:justify;padding-left:48px;text-indent:-24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8226;</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:9pt;">Net revenues: </font><font style="font-family:Arial;font-size:9pt;">~</font><font style="font-family:inherit;font-size:9pt;">Euro 3.7 billion (from &gt; Euro 3.5 billion)</font></div><div style="text-align:justify;padding-left:48px;text-indent:-24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8226;</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:9pt;">Adj. EBITDA: </font><font style="font-family:Arial;font-size:9pt;">~</font><font style="font-family:inherit;font-size:9pt;">Euro 1.27 billion (from Euro 1.2-1.25 billion)</font></div><div style="text-align:justify;padding-left:48px;text-indent:-24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8226;</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:9pt;">Adj. EBIT: </font><font style="font-family:Arial;font-size:9pt;">~</font><font style="font-family:inherit;font-size:9pt;">Euro 0.92 billion (from Euro 0.85-0.9 billion)</font></div><div style="text-align:justify;padding-left:48px;text-indent:-24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8226;</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:9pt;">Adj. diluted EPS: Euro 3.70-3.75</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(3)</sup></font><font style="font-family:inherit;font-size:9pt;">&#160;per share (from Euro 3.50-3.70</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(4)</sup></font><font style="font-family:inherit;font-size:9pt;">&#160;per share)</font></div><div style="text-align:justify;padding-left:48px;text-indent:-24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8226;</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:9pt;">Industrial free cash flow: &gt; Euro 0.6 billion (from &gt; Euro 0.55 billion)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">____________________________________________________________________________________________________________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:12px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7pt;padding-left:0px;"><font style="font-family:inherit;font-size:7pt;">1.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">The constant currency presentation eliminates the effects of changes in foreign currency (transaction and translation) and of foreign currency hedges</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:12px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7pt;padding-left:0px;"><font style="font-family:inherit;font-size:7pt;">2.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">Refer to specific note on non-GAAP financial measures</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:12px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7pt;padding-left:0px;"><font style="font-family:inherit;font-size:7pt;">3.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">Calculated using the weighted average diluted number of common shares for 2019 as at October 25, 2019 of 187,864 thousand and excluding net profit attributable to non-controlling interests.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:12px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7pt;padding-left:0px;"><font style="font-family:inherit;font-size:7pt;">4.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">Calculated using the weighted average diluted number of common shares for 2018 and excluding net profit attributable to non-controlling interests</font></div></td></tr></table><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:52.87081339712919%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:48%;"></td><td style="width:52%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Maranello (Italy), November 4, 2019</font><font style="font-family:inherit;font-size:11pt;">&#32;&#8211; Ferrari N.V. (NYSE/MTA: RACE) (&#8220;Ferrari&#8221; or the &#8220;Company&#8221;) today announces its consolidated preliminary results</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(5)</sup></font><font style="font-family:inherit;font-size:11pt;">&#32;for the third quarter and nine months ended September 30, 2019.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Shipments</font><font style="font-family:inherit;font-size:8pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(6)(7)</sup>&#160;</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.42196531791907%;border-collapse:collapse;text-align:left;"><tr><td colspan="11"></td></tr><tr><td style="width:9%;"></td><td style="width:9%;"></td><td style="width:7%;"></td><td style="width:6%;"></td><td style="width:1%;"></td><td style="width:36%;"></td><td style="width:9%;"></td><td style="width:9%;"></td><td style="width:7%;"></td><td style="width:6%;"></td><td style="width:1%;"></td></tr><tr><td colspan="5" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the three months ended</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Shipments</font></div></td><td colspan="5" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the nine months ended</font></div></td></tr><tr><td colspan="5" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(units)</font></div></td><td colspan="5" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,143</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,005</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">138</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">14</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">EMEA</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3,547</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3,181</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">366</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">12</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">772</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">770</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Americas</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,295</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,189</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">106</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">5</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">159</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">162</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(3)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(2</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Mainland China, Hong Kong and Taiwan</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">776</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">522</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">254</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">49</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">400</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">325</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">75</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">23</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Rest of APAC</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,137</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">961</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">176</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">18</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2,474</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2,262</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">212</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">9</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Shipments</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">7,755</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">6,853</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">902</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">13</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">%</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Shipments totaled &#160;&#160;&#160;&#160;2,474 units in the third quarter 2019, up 212 units or +9.4% vs. prior year. This achievement was driven by a 9.5% increase in sales of our 8 cylinder models (V8) and an 8.9% increase of our 12 cylinder models (V12). The performance was mainly led by robust deliveries of the Ferrari Portofino as well as the 812 Superfast. This was partially offset by lower volume from the 488 family, with the 488 GTB and the 488 Spider now phased out, partially compensated by the 488 Pista and the ramp up of the 488 Pista Spider. Very first deliveries of the Ferrari Monza SP1 and SP2 also began towards the end of September.</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">EMEA</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(7)</sup></font><font style="font-family:inherit;font-size:11pt;">&#32;grew 13.7%, Americas</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(7)</sup></font><font style="font-family:inherit;font-size:11pt;">&#32;was substantially flat, while Mainland China, Hong Kong and Taiwan were down by a few units as per the decision to concentrate client deliveries in the first part of the year to anticipate the early introduction of new emission regulations. Rest of APAC</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(7)</sup></font><font style="font-family:inherit;font-size:11pt;">&#32;was up 23.1%.</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">____________________________________________________________________________________________________________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:12px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7pt;padding-left:0px;"><font style="font-family:inherit;font-size:7pt;">5.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">These results have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board and IFRS as endorsed by the European Union</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:12px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7pt;padding-left:0px;"><font style="font-family:inherit;font-size:7pt;">6.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">Excluding the XX Programme, racing cars, Fuori Serie, one-off and pre-owned cars </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:12px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7pt;padding-left:0px;"><font style="font-family:inherit;font-size:7pt;">7.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">EMEA includes: Italy, UK, Germany, Switzerland, France, Middle East (includes the United Arab Emirates, Saudi Arabia, Bahrain, Lebanon, Qatar, Oman and Kuwait) and Rest of EMEA (includes Africa and the other European markets not separately identified); Americas includes: United States of America, Canada, Mexico, the Caribbean and Central and South America; Rest of APAC mainly includes: Japan, Australia, Singapore, Indonesia, South Korea, Thailand and Malaysia</font></div></td></tr></table><div style="line-height:120%;text-align:left;padding-left:12px;text-indent:-12px;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2</font></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Total net revenues</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.42196531791907%;border-collapse:collapse;text-align:left;"><tr><td colspan="13"></td></tr><tr><td style="width:9%;"></td><td style="width:8%;"></td><td style="width:10%;"></td><td style="width:1%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:28%;"></td><td style="width:7%;"></td><td style="width:7%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:9%;"></td><td style="width:1%;"></td></tr><tr><td colspan="4" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the three months ended</font></div></td><td colspan="4" rowspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Euro million)</font></div></td><td colspan="5" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the nine months ended</font></div></td></tr><tr><td colspan="4" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td><td colspan="5" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td></tr><tr><td rowspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td rowspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td colspan="4" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change at</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td rowspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td rowspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td colspan="4" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change at</font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">current</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">constant</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">current</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">constant</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">currency</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">currency</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">currency</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">currency</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">708</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">616</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">15</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">12</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Cars and spare parts</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(8)</sup></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,209</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,898</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">16</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">14</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">46</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">70</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(34</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(34</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Engines</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(9)</sup></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">157</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">227</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(31</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(31</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%)</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">135</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">128</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:8pt;">Sponsorship, commercial</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:8pt;">and brand</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(10)</sup></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">394</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">380</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">26</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">24</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">10</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">8</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Other</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(11)</sup></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">79</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">70</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">13</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">9</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">915</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">838</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">9</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">7</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Net Revenues</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2,839</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2,575</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">10</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">8</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">%</font></div></td></tr></table></div></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">Net revenues for the third quarter 2019 increased to Euro 915 million, up 9.2% at current currency and up 7.1% at constant currency</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font><font style="font-family:inherit;font-size:11pt;">. The increase of revenues in Cars and spare parts</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(8)</sup></font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:11pt;">to Euro 708 million (+14.8% at current currency or +12.5% at constant currency</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font><font style="font-family:inherit;font-size:11pt;">) was supported by the Ferrari Portofino, the 812 Superfast, the 488 Pista and the ramp up of the 488 Pista Spider. This was partially offset by lower sales of the 488 GTB and the 488 Spider, now phased out, as well as deliveries of the strictly limited edition Ferrari J50 in 2018. Revenue growth was also supported by a positive contribution from personalization programs. Engines</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(9)</sup></font><font style="font-family:inherit;font-size:11pt;">&#32;revenues (Euro 46 million, -34.3% at current and constant currency</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font><font style="font-family:inherit;font-size:11pt;">) continued to decline reflecting lower shipments to Maserati. Sponsorship, commercial and brand</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(10)</sup></font><font style="font-family:inherit;font-size:11pt;">&#32;revenues (Euro 135 million, +5.8% at current currency or +3.9% at constant currency</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font><font style="font-family:inherit;font-size:11pt;">) slightly increased due to higher revenues generated by Formula 1 racing activities. Currency, including translation and transaction impacts as well as foreign currency hedges, had a positive impact of Euro 17 million (mainly USD). </font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">____________________________________________________________________________________________________________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:12px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7pt;padding-left:0px;"><font style="font-family:inherit;font-size:7pt;">8.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">Includes the net revenues generated from shipments of our cars, including any personalization revenue generated on these cars and sales of spare parts</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:12px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7pt;padding-left:0px;"><font style="font-family:inherit;font-size:7pt;">9.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">Includes the net revenues generated from the sale of engines to Maserati and the revenues generated from the rental of engines to other Formula 1 racing teams</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:12px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7pt;padding-left:0px;"><font style="font-family:inherit;font-size:7pt;">10.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">Includes the net revenues earned by our Formula 1 racing team through sponsorship agreements and our share of the Formula 1 World Championship commercial revenues and net revenues generated through the Ferrari brand, including merchandising, licensing and royalty income</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:12px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7pt;padding-left:0px;"><font style="font-family:inherit;font-size:7pt;">11.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">Primarily includes interest income generated by our financial services activities and net revenues from the management of the Mugello racetrack</font></div></td></tr></table><div style="line-height:120%;text-align:left;padding-left:12px;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Adjusted EBITDA</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(2)</sup></font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">&#32;and Adjusted EBIT</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(2)</sup></font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">&#32;</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.42196531791907%;border-collapse:collapse;text-align:left;"><tr><td colspan="13"></td></tr><tr><td style="width:8%;"></td><td style="width:7%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:10%;"></td><td style="width:1%;"></td><td style="width:28%;"></td><td style="width:7%;"></td><td style="width:7%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:9%;"></td><td style="width:1%;"></td></tr><tr><td colspan="4" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the three months ended</font></div></td><td colspan="4" rowspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Euro million)</font></div></td><td colspan="5" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the nine months ended</font></div></td></tr><tr><td colspan="4" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td><td colspan="5" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td></tr><tr><td rowspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td rowspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td colspan="4" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change at</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td rowspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td rowspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td colspan="4" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change at</font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">current</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">constant</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">current</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">constant</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">currency</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">currency</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">currency</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">currency</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">311</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">278</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">11</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9.5pt;"><font style="font-family:inherit;font-size:8pt;">Adjusted EBITDA</font><font style="font-family:inherit;font-size:9.5pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(2)</sup></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">936</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">840</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">11</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">227</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">203</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">12</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #a6a6a6;"><div style="text-align:center;font-size:9.5pt;"><font style="font-family:inherit;font-size:8pt;">Adjusted EBIT</font><font style="font-family:inherit;font-size:9.5pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(2)</sup></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">698</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">630</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">11</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">Q3 2019 Adjusted</font><font style="font-family:inherit;font-size:11pt;color:#ff0000;">&#32;</font><font style="font-family:inherit;font-size:11pt;">EBIT</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(2)</sup></font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt"> </sup></font><font style="font-family:inherit;font-size:11pt;">was Euro 227 million, +11.7% at current currency or +4.4% at constant currency</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font><font style="font-family:inherit;font-size:11pt;">&#32;due to higher volumes (Euro 20 million) and a positive Mix / price variance (Euro 23 million). This performance was also attributable to the impact of the personalization programs and the very first deliveries of the Ferrari Monza SP1 and SP2. Industrial costs / research and development costs increased (Euro 40 million), mainly to support the innovation activities on our product range and components, Formula 1 racing activities and higher operational start up expenses in connection with the introduction of new models. SG&amp;A (up Euro 8 million) reflected new product launches and the Company&#8217;s organizational development. Other (Euro 14 million) also included a release of provisions related to favorable developments in emissions regulations that occurred in Q3 2019.</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The tax rate in the quarter was 20% mainly as a result of the previously disclosed advance agreement on the Patent Box.</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">As a result of the items described above, Adjusted diluted earnings</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(2)</sup></font><font style="font-family:inherit;font-size:11pt;">&#32;per share for the second quarter reached Euro 0.90, up 16.9% vs. prior year.</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Industrial free cash flow</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(2)</sup></font><font style="font-family:inherit;font-size:11pt;">&#32;for the three months ended September 30, 2019 was Euro 138 million, mainly driven by the Adjusted EBITDA</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(2)</sup></font><font style="font-family:inherit;font-size:11pt;">, partially offset by capital expenditures of Euro 145 million.</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Net Industrial Debt</font><font style="font-family:inherit;font-size:11pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(2)(12)</sup></font><font style="font-family:inherit;font-size:11pt;">&#32;as of September 30, 2019 &#8211; after Euro 303 million of share repurchases accomplished during the first nine months of 2019 and Euro 195 million</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">____________________________________________________________________________________________________________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:18px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7pt;padding-left:0px;"><font style="font-family:inherit;font-size:7pt;">12.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">Net Industrial Debt redefined as Net Debt less Net Debt of Financial Services Activities</font></div></td></tr></table><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">dividend distribution &#8211; was Euro 369 million, which compares with Euro 370 million as of December 31, 2018. Lease liabilities per IFRS 16 as of September 30, 2019 remained close to stable at Euro 63 million.</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Upgraded 2019 Guidance: </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:76.76300578034682%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:40%;"></td><td style="width:30%;"></td><td style="width:30%;"></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-style:italic;">(&#8364;B, unless otherwise stated)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#7f7f7f;font-weight:bold;">Previous</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Current</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NET REVENUES</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#7f7f7f;">&gt;3.5</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:8pt;">~</font><font style="font-family:inherit;font-size:10pt;">3.7</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #bfbfbf;"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ADJ. EBITDA </font><font style="font-family:inherit;font-size:8pt;">(margin %)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #bfbfbf;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#7f7f7f;">1.2-1.25</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#7f7f7f;">~</font><font style="font-family:inherit;font-size:8pt;color:#7f7f7f;">34%</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #bfbfbf;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:8pt;">~</font><font style="font-family:inherit;font-size:10pt;">1.27</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">~34%</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #bfbfbf;"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ADJ. EBIT </font><font style="font-family:inherit;font-size:8pt;">(margin %)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #bfbfbf;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#7f7f7f;">0.85-0.9</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#7f7f7f;">~</font><font style="font-family:inherit;font-size:8pt;color:#7f7f7f;">24.5%</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #bfbfbf;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:8pt;">~</font><font style="font-family:inherit;font-size:10pt;">0.92</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">~24.5%</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ADJ. DILUTED EPS (&#8364;)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #bfbfbf;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#7f7f7f;">3.50-3.70</font><font style="font-family:inherit;font-size:10pt;color:#7f7f7f;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(4)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #bfbfbf;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.70-3.75</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(3)</sup></font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #bfbfbf;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">IND. FCF</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #bfbfbf;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#7f7f7f;">&gt;0.55</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #bfbfbf;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:9pt;">&gt;0</font><font style="font-family:inherit;font-size:10pt;">.6</font></div></td></tr></table></div></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Third quarter 2019 highlights</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Universo Ferrari &#8211; the first event dedicated exclusively to Ferrari in its hometown</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">On September 2, 2019 the first exhibition dedicated to the world of Ferrari in Maranello, Universo Ferrari, opened its doors. Over 14,000 customers, prospects and Ferrari enthusiasts visited the Universo Ferrari during the entire month of September having the chance to experience the many facets of the marque in a holistic manner. </font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">The Ferrari F8 Spider and the Ferrari 812 GTS</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">On September 9, 2019 the Company unveiled the 812 GTS, which made its return 50 years after the debut of the last sport front mounted V12 spider. The model was revealed during the Universo Ferrari event held in Maranello. The exhibition was also the stage for the launch of the F8 Spider, the new generation drop-top sports car equipped with the most successful mid-rear-mounted V8 in history.</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:18px;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5</font></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Subsequent events:</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Under the common share repurchase program, from October 1, 2019 to October 25, 2019, the Company has purchased a further 316,283 common shares for a total consideration of Euro 43.3 million. At October 25, 2019 the Company held in treasury an aggregate of 8,373,857 common shares. As of the same date, the Company held 3.26% of the total issued share capital including the common shares and the special voting shares, net of shares assigned under the Company&#8217;s equity incentive plan.</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Brand Diversification Strategy</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">On November 4, 2019, during the Q3 2019 earnings call, management will present a synopsis of the Ferrari&#8217;s finalized brand diversification strategy. </font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6</font></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">About Ferrari </font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Ferrari is among the world&#8217;s leading luxury brands focused on the design, engineering, production and sale of the world&#8217;s most recognizable luxury performance sports cars. Ferrari brand symbolizes exclusivity, innovation, state-of-the-art sporting performance and Italian design. Its history and the image enjoyed by its cars are closely associated with its Formula 1 racing team, Scuderia Ferrari, the most successful team in Formula 1 history. From the inaugural year of Formula 1 in 1950 through the present, Scuderia Ferrari has won 238 Grand Prix races, 16 Constructor World titles and 15 Drivers&#8217; World titles. Ferrari designs, engineers and produces its cars in Maranello, Italy, and sells them in over 60 markets worldwide.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Forward Looking Statements</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">This document, and in particular the section entitled &#8220;Upgraded 2019 Guidance&#8221; contains forward-looking statements. These statements may include terms such as &#8220;may&#8221;, &#8220;will&#8221;, &#8220;expect&#8221;, &#8220;could&#8221;, &#8220;should&#8221;, &#8220;intend&#8221;, &#8220;estimate&#8221;, &#8220;anticipate&#8221;, &#8220;believe&#8221;, &#8220;remain&#8221;, &#8220;continue&#8221;, &#8220;on track&#8221;, &#8220;successful&#8221;, &#8220;grow&#8221;, &#8220;design&#8221;, &#8220;target&#8221;, &#8220;objective&#8221;, &#8220;goal&#8221;, &#8220;forecast&#8221;, &#8220;projection&#8221;, &#8220;outlook&#8221;, &#8220;prospects&#8221;, &#8220;plan&#8221;, &#8220;guidance&#8221; or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on the Group&#8217;s current expectations and projections about future events and, by their nature, are subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in such statements as a result of a variety of factors, including: the Group&#8217;s ability to preserve and enhance the value of the Ferrari brand; the success of Ferrari&#8217;s Formula 1 racing team and the expenses the Group incurs for Formula 1 activities, as well as the popularity of Formula 1 more broadly; the Group&#8217;s ability to keep up with advances in high performance car technology and to make appealing designs for its new models; Group&#8217;s ability to preserve its relationship with the automobile collector and enthusiast community; changes in client preferences and automotive trends; changes in the general economic environment, including changes in some of the markets in which we operate, and changes in demand for luxury goods, including high performance luxury cars, which is highly volatile; competition in the luxury performance automobile industry; the Group&#8217;s ability to successfully carry out its growth strategy and, particularly, the Group&#8217;s ability to grow its presence in emerging market countries; the Group&#8217;s low volume strategy; reliance upon a number of key members of executive management, employees, and the ability of its current management team to operate and manage effectively; the performance of the Group&#8217;s dealer network on which the Group depend for sales and services; increases in costs, disruptions of supply or shortages of components and raw materials; disruptions at the Group&#8217;s manufacturing facilities in Maranello and Modena; the performance of the Group&#8217;s licensees for Ferrari-branded products; the Group&#8217;s ability to protect its intellectual property rights and to avoid infringing on the intellectual property rights of others; the ability of Maserati, the Group&#8217;s engine customer, to sell its planned volume of cars; continued compliance with customs regulations of various jurisdictions; the impact of increasingly stringent fuel economy, emission and safety standards, including the cost of compliance, and any required changes to its products; the challenges and costs of integrating hybrid technology more broadly into Group&#8217;s car portfolio over time; product recalls, liability claims and product warranties; the adequacy of its insurance coverage to protect the Group </font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7</font></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">against potential losses; ability to ensure that its employees, agents and representatives comply with applicable law and regulations; ability to maintain the functional and efficient operation of its information technology systems, including our ability to defend from the risk of cyberattacks on our in-vehicle technology; the Group&#8217;s ability to service and refinance its debt; the Group&#8217;s ability to provide or arrange for adequate access to financing for its dealers and clients, and associated risks; labor relations and collective bargaining agreements; exchange rate fluctuations, interest rate changes, credit risk and other market risks; changes in tax, tariff or fiscal policies and regulatory, political and labor conditions in the jurisdictions in which the Group operates, including possible future bans of combustion engine cars in cities and the potential advent of self-driving technology; potential conflicts of interest due to director and officer overlaps with the Group&#8217;s largest shareholders and other factors discussed elsewhere in this document. </font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Group expressly disclaims and does not assume any liability in connection with any inaccuracies in any of the forward-looking statements in this document or in connection with any use by any third party of such forward-looking statements.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Any forward-looking statements contained in this document speak only as of the date of this document and the Company does not undertake any obligation to update or revise publicly forward-looking statements. Further information concerning the Group and its businesses, including factors that could materially affect the Company&#8217;s financial results, is included in the Company&#8217;s reports and filings with the U.S. Securities and Exchange Commission, the AFM and CONSOB.</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:138%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">For further information:</font></div><div style="line-height:138%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Media Relations</font></div><div style="line-height:138%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">tel.: +39 0536 949337</font></div><div style="line-height:138%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Email: media@ferrari.com </font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:138%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Investor Relations</font></div><div style="line-height:138%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">tel.: +39 0536 949695</font></div><div style="line-height:138%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Email: ir@ferrari.com </font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">www.ferrari.com</font><font style="font-family:inherit;font-size:11pt;">&#32;</font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8</font></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Capex and R&amp;D </font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.1907514450867%;border-collapse:collapse;text-align:left;"><tr><td colspan="9"></td></tr><tr><td style="width:13%;"></td><td style="width:13%;"></td><td style="width:3%;"></td><td style="width:3%;"></td><td style="width:36%;"></td><td style="width:3%;"></td><td style="width:3%;"></td><td style="width:13%;"></td><td style="width:13%;"></td></tr><tr><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the three months ended</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Euro million)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the nine months ended</font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">145</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">154</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Capital expenditures</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">453</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">403</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">77</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">87</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">of which capitalized development costs</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(13)</sup></font><font style="font-family:inherit;font-size:8pt;">&#160;(A)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">228</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">216</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">129</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">113</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Research and development  <br>costs expensed (B)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">423</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">397</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">206</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">200</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Total research and development (A+B)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">651</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">614</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">33</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">30</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amortization of capitalized  <br>development costs (C)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">94</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">85</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">162</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">143</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Research and development costs as recognized in the consolidated income statement (B+C)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">517</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">482</font></div></td></tr></table></div></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Non-GAAP financial measures </font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Operations are monitored through the use of various non-GAAP financial measures that may not be comparable to other similarly titled measures of other companies.</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Accordingly, investors and analysts should exercise appropriate caution in comparing these supplemental financial measures to similarly titled financial measures reported by other companies.</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">We believe that these supplemental financial measures provide comparable measures of financial performance which then facilitate management&#8217;s ability to identify operational trends, as well as make decisions regarding future spending, resource allocations and other operational decisions.</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Certain totals in the tables included in this document may not add due to rounding.</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">____________________________________________________________________________________________________________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:18px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7pt;padding-left:0px;"><font style="font-family:inherit;font-size:7pt;">13.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">Capitalized as intangible assets.</font></div></td></tr></table><div><br></div><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9</font></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Total Net Revenues, EBITDA, Adj. EBITDA, EBIT and Adj. EBIT at constant currency</font><font style="font-family:inherit;font-size:11pt;">&#32;eliminate the effects of changes in foreign currency (transaction and translation) and of foreign currency hedges.</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:98.95953757225433%;border-collapse:collapse;text-align:left;"><tr><td colspan="9"></td></tr><tr><td style="width:10%;"></td><td style="width:12%;"></td><td style="width:3%;"></td><td style="width:3%;"></td><td style="width:42%;"></td><td style="width:3%;"></td><td style="width:3%;"></td><td style="width:12%;"></td><td style="width:12%;"></td></tr><tr><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the three months ended</font></div></td><td colspan="3" rowspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Euro million)</font></div></td><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the nine months ended</font></div></td></tr><tr><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019 at</font></div></td><td style="vertical-align:middle;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;text-indent:2px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019 at</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;text-indent:2px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019 at</font></div></td><td style="vertical-align:middle;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;text-indent:2px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019 at</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">current</font></div></td><td style="vertical-align:middle;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">constant</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">current</font></div></td><td style="vertical-align:middle;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">constant</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">currency</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">currency</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">currency</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">currency</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">708</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">695</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Cars and spare parts</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,209</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,166</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">46</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">46</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Engines</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">157</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">157</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">135</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">133</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Sponsorship, commercial and brand</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">394</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">387</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">26</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">26</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Other</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">79</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">76</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">915</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">900</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Net Revenues</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2,839</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2,786</font></div></td></tr></table></div></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="11"></td></tr><tr><td style="width:9%;"></td><td style="width:11%;"></td><td style="width:3%;"></td><td style="width:1%;"></td><td style="width:17%;"></td><td style="width:17%;"></td><td style="width:17%;"></td><td style="width:1%;"></td><td style="width:3%;"></td><td style="width:10%;"></td><td style="width:11%;"></td></tr><tr><td colspan="4" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the three months ended</font></div></td><td colspan="3" rowspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Euro million)</font></div></td><td colspan="4" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the nine months ended</font></div></td></tr><tr><td colspan="4" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td><td colspan="4" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="5" style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">227</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="5" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">EBIT</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">698</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">227</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="5" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Adjusted EBIT</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">698</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">13</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="5" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Currency (including hedges)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">43</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">214</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="5" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">EBIT at constant currency</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">655</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">214</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="5" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Adjusted EBIT at constant currency</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">655</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="4" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the three months ended</font></div></td><td colspan="3" rowspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Euro million)</font></div></td><td colspan="4" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the nine months ended</font></div></td></tr><tr><td colspan="4" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td><td colspan="4" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="5" style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">311</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="5" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">EBITDA</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">936</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">311</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="5" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Adjusted EBITDA</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">936</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">13</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="5" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Currency (including hedges)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">43</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">298</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="5" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">EBITDA at constant currency</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">893</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">298</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="5" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Adjusted EBITDA at constant currency</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">893</font></div></td></tr></table></div></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">&#160;</font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10</font></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">EBITDA</font><font style="font-family:inherit;font-size:11pt;">&#32;is defined as net profit before income tax expense, net financial expenses and depreciation and amortization. </font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Adjusted EBITDA</font><font style="font-family:inherit;font-size:11pt;">&#32;is defined as EBITDA as adjusted for certain income and costs which are significant in nature, expected to occur infrequently, and that management considers not reflective of ongoing operational activities.</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="13"></td></tr><tr><td style="width:14%;"></td><td style="width:12%;"></td><td style="width:6%;"></td><td style="width:3%;"></td><td style="width:2%;"></td><td style="width:1%;"></td><td style="width:27%;"></td><td style="width:1%;"></td><td style="width:2%;"></td><td style="width:1%;"></td><td style="width:10%;"></td><td style="width:11%;"></td><td style="width:10%;"></td></tr><tr><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the three months ended</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Euro million)</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the nine months ended</font></div></td></tr><tr><td colspan="4" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="4" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">169</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">287</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(118)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Net profit</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">533</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">596</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(63)</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">42</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(90)</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">132</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Income tax expense / (benefit)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">133</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">20</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">113</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">16</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">10</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Net financial expenses</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">32</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">15</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">17</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">84</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">75</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">9</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Amortization and depreciation</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">238</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">210</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">28</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">311</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">278</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">33</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">EBITDA</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">936</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">841</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">95</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">of which positive impact from IFRS 16 <br>(simplified approach)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">13</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">13</font></div></td></tr></table></div></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.42196531791907%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"></td></tr><tr><td style="width:8%;"></td><td style="width:7%;"></td><td style="width:11%;"></td><td style="width:47%;"></td><td style="width:8%;"></td><td style="width:8%;"></td><td style="width:11%;"></td></tr><tr><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the three months ended</font></div></td><td rowspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Euro million)</font></div></td><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the nine months ended</font></div></td></tr><tr><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">311</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">278</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">33</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">EBITDA</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">936</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">841</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">95</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Release of charges for Takata airbag</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">inflator recalls</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(1)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">311</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">278</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">33</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Adjusted EBITDA</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">936</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">840</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">96</font></div></td></tr></table></div></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Adjusted Earnings Before Interest and Taxes (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Adjusted EBIT</font><font style="font-family:inherit;font-size:11pt;">&#8221;) represents EBIT as adjusted for certain income and costs which are significant in nature, expected to occur infrequently, and that management considers not reflective of ongoing operational activities.</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.42196531791907%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"></td></tr><tr><td style="width:8%;"></td><td style="width:7%;"></td><td style="width:11%;"></td><td style="width:47%;"></td><td style="width:8%;"></td><td style="width:8%;"></td><td style="width:11%;"></td></tr><tr><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the three months ended</font></div></td><td rowspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Euro million)</font></div></td><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the nine months ended</font></div></td></tr><tr><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">227</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">203</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">24</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">EBIT</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">698</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">631</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">67</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Release of charges for Takata airbag</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">inflator recalls</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(1)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">227</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">203</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">24</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Adjusted EBIT</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">698</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">630</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">68</font></div></td></tr></table></div></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11</font></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Adjusted net profit</font><font style="font-family:inherit;font-size:11pt;">&#32;represents net profit as adjusted for certain income and costs (net of tax effect) which are significant in nature, expected to occur infrequently, and that management considers not reflective of ongoing operational activities.</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.42196531791907%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"></td></tr><tr><td style="width:8%;"></td><td style="width:7%;"></td><td style="width:11%;"></td><td style="width:47%;"></td><td style="width:8%;"></td><td style="width:8%;"></td><td style="width:11%;"></td></tr><tr><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the three months ended</font></div></td><td rowspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Euro million)</font></div></td><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the nine months ended</font></div></td></tr><tr><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">169</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">287</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(118)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Net profit</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">533</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">596</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(63)</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Release of charges for Takata airbag</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">inflator recalls (net of tax effect)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(1)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(141)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">141</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Patent Box benefit for the period 2015-2017</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(141)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">141</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">169</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">146</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">23</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Adjusted net profit</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">533</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">454</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">79</font></div></td></tr></table></div></div><div style="line-height:180%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Adjusted EPS</font><font style="font-family:inherit;font-size:11pt;">&#32;represents EPS as adjusted for certain income and costs (net of tax effect) which are significant in nature, expected to occur infrequently, and that management considers not reflective of ongoing operational activities. </font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.42196531791907%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"></td></tr><tr><td style="width:7%;"></td><td style="width:8%;"></td><td style="width:11%;"></td><td style="width:47%;"></td><td style="width:8%;"></td><td style="width:8%;"></td><td style="width:11%;"></td></tr><tr><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the three months ended</font></div></td><td rowspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Euro per common share)</font></div></td><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the nine months ended</font></div></td></tr><tr><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.90</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1.52</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(0.62)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Basic EPS</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.82</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.15</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(0.33)</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Release of charges for Takata airbag</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">inflator recalls (net of tax effect)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(0.01)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.01</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(0.74)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.74</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Patent Box benefit for the period 2015-2017</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(0.74)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.74</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">0.90</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">0.78</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">0.12</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Adjusted basic EPS</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2.82</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2.40</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">0.42</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.90</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1.51</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(0.61)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Diluted EPS</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.81</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.14</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(0.33)</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Release of charges for Takata airbag</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">inflator recalls (net of tax effect)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(0.01)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.01</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(0.74)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.74</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Patent Box benefit for the period 2015-2017</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">-</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(0.74)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.74</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">0.90</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">0.77</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">0.13</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Adjusted diluted EPS</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2.81</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2.39</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">0.42</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12</font></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Basic and diluted EPS</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(14)</sup>&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.65317919075144%;border-collapse:collapse;text-align:left;"><tr><td colspan="13"></td></tr><tr><td style="width:9%;"></td><td style="width:10%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:2%;"></td><td style="width:3%;"></td><td style="width:32%;"></td><td style="width:3%;"></td><td style="width:1%;"></td><td style="width:2%;"></td><td style="width:8%;"></td><td style="width:10%;"></td><td style="width:10%;"></td></tr><tr><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the three months ended</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Euro million, unless otherwise stated)</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the nine months ended</font></div></td></tr><tr><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">168</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">287</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(119)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Net profit attributable to the owners of the Company</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">529</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">595</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(66)</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">186,504</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">188,646</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Weighted average number of common shares (thousand)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">187,196</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">188,712</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">0.90</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">1.52</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(0.62)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Basic EPS (in Euro)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2.82</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">3.15</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(0.33)</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">187,302</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">189,434</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Weighted average number of common shares for diluted earnings per common share (thousand)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">187,994</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">189,500</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">0.90</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">1.51</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(0.61)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Diluted EPS (in Euro)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2.81</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">3.14</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(0.33)</font></div></td></tr></table></div></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;text-indent:122px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">____________________________________________________________________________________________________________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:18px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:inherit;font-size:7pt;">14.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">For the three and nine months ended September 30, 2019 and 2018 the weighted average number of common shares for diluted earnings per share was increased to take into consideration the theoretical effect of the potential common shares that would be issued under the Company&#8217;s equity incentive plans (assuming 100 percent of the related awards vested).</font></div></td></tr></table><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13</font></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Net Industrial Debt</font><font style="font-family:inherit;font-size:11pt;">,</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:11pt;">defined as total Debt less Cash and cash equivalents (Net Debt), further adjusted to exclude the debt and cash and cash equivalents related to our financial services activities (Net Debt of Financial Services Activities).</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:98.95953757225433%;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:13%;"></td><td style="width:3%;"></td><td style="width:29%;"></td><td style="width:11%;"></td><td style="width:11%;"></td><td style="width:11%;"></td><td style="width:11%;"></td><td style="width:11%;"></td></tr><tr><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Euro million)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;background-color:#404040;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#ffffff;font-weight:bold;">Sept. 30</font></div></td><td style="vertical-align:middle;background-color:#7f7f7f;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#ffffff;font-weight:bold;">June 30,</font></div></td><td style="vertical-align:middle;background-color:#c2c2c2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Mar. 31,</font></div></td><td style="vertical-align:middle;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Dec. 31,</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#404040;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#ffffff;font-weight:bold;">2019</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;background-color:#7f7f7f;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#ffffff;font-weight:bold;">2019</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;background-color:#c2c2c2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td></tr><tr><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Debt</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#404040;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#ffffff;font-weight:bold;">(2,108)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#7f7f7f;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;text-indent:2px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#ffffff;font-weight:bold;">(2,048)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#c2c2c2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;text-indent:2px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(2,064)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;text-indent:2px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(1,927)</font></div></td></tr><tr><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">of which: Lease liabilities as per IFRS 16  <br>(simplified approach)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#404040;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#ffffff;">63</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#7f7f7f;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#ffffff;">63</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#c2c2c2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">63</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">-</font></div></td></tr><tr><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Cash and cash equivalents</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#404040;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#ffffff;">871</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#7f7f7f;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#ffffff;">881</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#c2c2c2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,062</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">794</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Net debt</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#404040;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#ffffff;font-weight:bold;">(1,237)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#7f7f7f;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;text-indent:2px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#ffffff;font-weight:bold;">(1,167)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#c2c2c2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;text-indent:2px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(1,002)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;text-indent:2px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(1,133)</font></div></td></tr><tr><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Net Debt of Financial Services Activities</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#404040;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#ffffff;">(868)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#7f7f7f;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;text-indent:2px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#ffffff;">(814)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#c2c2c2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;text-indent:2px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(810)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;text-indent:2px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(763)</font></div></td></tr><tr><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Net Industrial Debt</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#404040;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#ffffff;">(369)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#7f7f7f;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;text-indent:2px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;color:#ffffff;font-weight:bold;">(353)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#c2c2c2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;text-indent:2px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(192)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;text-indent:2px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(370)</font></div></td></tr></table></div></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Free Cash Flow </font><font style="font-family:inherit;font-size:11pt;">and</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">&#32;Free Cash Flow from Industrial Activities </font><font style="font-family:inherit;font-size:11pt;">are two of management&#8217;s primary key performance indicators to measure the Group&#8217;s performance. Free Cash Flow is defined as cash flows from operating activities less investments in property, plant and equipment and intangible assets. Free Cash Flow from Industrial Activities is defined as Free Cash Flow adjusted to exclude the operating cash flow from our financial services activities (Free Cash Flow from Financial Services Activities).</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.1907514450867%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:12%;"></td><td style="width:12%;"></td><td style="width:52%;"></td><td style="width:12%;"></td><td style="width:12%;"></td></tr><tr><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the three months ended</font></div></td><td rowspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Euro million)</font></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the nine months ended</font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30,</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #c00000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #c00000;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">266</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">233</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #c00000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Cash flow from operating activities</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">949</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">619</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(145)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(154)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Investments in property, plant and equipment and intangible assets</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(453)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(403)</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">121</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">79</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Free Cash Flow</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">496</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">216</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(17)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(16)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Free Cash Flow from Financial Services Activities</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(63)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(48)</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">138</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">95</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #999999;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Free Cash Flow from Industrial Activities</font><font style="font-family:inherit;font-size:8pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(15)</sup></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#bfbfbf;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">559</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #999999;background-color:#f2f2f2;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">264</font></div></td></tr></table></div></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">____________________________________________________________________________________________________________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:18px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7pt;padding-left:0px;"><font style="font-family:inherit;font-size:7pt;">15.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">Free Cash Flow from Industrial Activities for the three and nine months ended September 30, 2018 include Euro 1 million of quick refund to shareholders due to eligibility for withholding exemption.</font></div></td></tr></table><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">14</font></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:180%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">On November 4, 2019, at 3.00 p.m. CET, management will hold a conference call to present the Q3 2019 results to financial analysts and institutional investors. The call can be followed live and a recording will subsequently be available on the Group website http://corporate.ferrari.com/en/investors. The supporting document will be made available on the website prior to the call.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:51.09826589595375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:48%;"></td><td style="width:52%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">Ferrari N.V.</font></div><div style="font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">Amsterdam, the Netherlands</font></div><div style="font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">Registered Office: </font></div><div style="font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">Via Abetone Inferiore N.4, </font></div><div style="font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">I -41053 Maranello, (MO) Italy</font></div><div style="font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">Dutch trade register number: 64060977</font></div><div style="font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15</font></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div></div>	</body>
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