FCA POSTS RECORD FIRST QUARTER RESULTS WITH ADJUSTED EBIT NEARLY DOUBLED TO €1.4 BILLION, AND ALL SEGMENTS PROFITABLE. ADJUSTED NET PROFIT REACHED €0.5 BILLION. FULL YEAR GUIDANCE IS CONFIRMED.

• Worldwide shipments of 1,086 thousand units, in line with Q1 2015; Jeep worldwide shipments up 15% from Q1 2015 to 326 thousand units
• Net revenues of €26.6 billion, 3% higher than Q1 2015 (+4% at constant exchange rates, or CER)
• Adjusted EBIT margins up in NAFTA, doubling to 7.2%, and up nearly four-fold to 1.9% in EMEA
• Adjusted net profit of €528 million, €497 million higher than Q1 2015
• Net industrial debt of €6.6 billion, an increase of €1.5 billion from December 2015 due to seasonality and foreign exchange impacts; Available liquidity of €24.3 billion, consistent with December 2015
• Long-term debt rating raised to "BB"from "BB-"by Standard & Poor's with"Stable"outlook confirmed
• Market share in U.S. increased to 13.2%, up 70 bps, and in Europe to 6.7%, up 50 bps. Maintained market leadership in Brazil with 180 bps gap to nearest competitor. Increased Jeep sales in APAC by 17% as production localization proceeds
• In the quarter, started production of the all-new Chrysler Pacifica, Maserati Levante and Fiat Mobi; in China, Jeep Renegade production started in April

Market share of 12.9% (+50 bps from Q1 2015) and continued market leader in Canada

• Retail sales(5) totaled 634 thousand units (+8% from Q1 2015)
• Shipments up 3% primarily driven by Jeep, Ram and minivans: U.S. +19 thousand units (+3%), Canada -1 thousand units (-2%), Mexico -2 thousand units (-11%)
• Net revenues increase due to higher shipments, positive vehicle mix, improved net pricing and favorable foreign exchange translation
• Adjusted EBIT increase primarily due to higher net revenues, a decrease in advertising spend, purchasing savings and lower recall campaign costs, partially offset by higher manufacturing and product costs for content enhancements
• Adjusted EBIT excludes total net charges of €49 million primarily related to the net incremental costs for the implementation of the Group's plan to realign existing NAFTA capacity to better meet market demand for pickup trucks and UVs

(5) For U.S. and Canada, "Sales" represents sales to end customers as reported by the Group's dealer network

Market share of 12.7% and continued market leader in Brazil, with market share of 18.1% and 180 bps lead over nearest competitor

• Decrease in shipments reflects poor trading conditions in Brazil due to continued macroeconomic weakness: Brazil down 37 thousand units; Argentina up 4 thousand units
• Net revenues decrease primarily due to lower shipments and unfavorable foreign exchange impacts, partially offset by favorable vehicle mix related to newly launched Jeep Renegade and Fiat Toro
• Adjusted EBIT increase primarily due to favorable vehicle mix, a decrease in marketing costs and manufacturing efficiencies, partially offset by lower shipments, higher industrial costs from new product launches and input cost inflation
• Adjusted EBIT excludes total charges of €24 million primarily related to the re-measurement of net monetary assets in Venezuela after adoption of the new floating exchange rate

Jeep sales up 17% driven by first full quarter of locallyproduced Jeep Cherokee sales in China

• Decrease in shipments (excluding JVs) due to transition to local Jeep production in China JV and lower volumes in Australia due to pricing to offset negative foreign exchange impacts. Sales including JV produced units were 53 thousand units, down from 59 thousand units, with a 17% increase in Jeep sales due to early success of locally produced Jeep Cherokee in China
• Net revenues decrease primarily as a result of lower shipments and unfavorable mix from shipment of vehicles affected by Tianjin port explosion in Q3 2015
• Adjusted EBIT decrease driven by lower net revenues, partially offset by a reduction in direct marketing costs, which are now incurred by China JV, and improved results from China JV

Continued profit and margin improvement along with growth in market share

• European market share (EU28+EFTA) for passenger cars up 50 bps to 6.7% (up 90 bps to 29.1% in Italy) and down 10 bps to 10.9% for light commercial vehicles (LCVs)(6) (down 70 bps to 44.7% in Italy)
• Passenger car shipments up 13% to 240 thousand units and LCVs shipments up 8% to 64 thousand units
• Net revenues increase due to higher volumes and favorable vehicle mix driven by Jeep Renegade, Fiat 500X and Fiat Tipo, partially offset by unfavorable net pricing related to higher incentives in EU
• Adjusted EBIT increase driven by increase in net revenues as well as manufacturing and purchasing efficiencies, partially offset by higher research and development costs 

Production of Levante began in February at Mirafiori plant

• Shipments down due to lower volumes in North America (-16%) and Europe (-8%), partially offset by increase in China (+36%)
• Net revenues decrease due to lower volumes, partially offset by positive mix and foreign exchange impacts
• Adjusted EBIT decrease primarily due to lower volumes(6) Due to unavailability of market data for Italy, the figures reported are an extrapolation and discrepancies with actual data could exist

Continued Adjusted EBIT margin improvement driven by Magneti Marelli

• Net revenues decrease reflects volume declines at Comau and Teksid, which more than offset higher volumes at Magneti Marelli
• Adjusted EBIT increase with favorable mix more than offsetting higher industrial costs
• Magneti Marelli order intake was €653 million (+17% vs Q1 2015) with non-captive at 53%
• Comau order backlog was €972 million, in line with year-end 2015, but lower than at end of Q1 2015

(7) Adjusted EBIT is calculated as EBIT excluding: gains/(losses) on the disposal of investments, restructuring, impairments, asset write-offs and other unusual income/(expenses) that are considered rare or discrete events that are infrequent in nature; (8) Adjusted net profit is calculated as Net profit/(loss) excluding post-tax impacts of the same items excluded from Adjusted EBIT: gains/(losses) on the disposal of investments, restructuring, impairments, asset write-offs and other unusual income/(expenses) that are considered rare or discrete events that are infrequent in nature; (9) Adjusted diluted EPS is calculated by adjusting Diluted EPS for the impact of the same items excluded from Adjusted EBIT; (10) Net industrial debt is computed as: debt plus other financial liabilities related to industrial activities less (i) cash and cash equivalents, (ii) current securities, (iii) current financial receivables from Group or jointly controlled financial services entities and (iv) other financial assets; therefore, debt, cash and other financial assets/liabilities pertaining to Financial Services entities are excluded from the computation of Net industrial debt; (11) includes financial receivables due from discontinued operations (€98 million at December 31, 2015) and financial payables due to discontinued operations (€137 million at December 31, 2015); (12) the amounts presented for Ferrari are not representative of the income statement of Ferrari on a stand-alone basis, as these amounts are net of intercompany transactions

This document, and in particular the section entitled "2016 Guidance", contains forward-looking statements. These statements may include terms such as "may", "will", "expect", "could", "should", "intend", "estimate", "anticipate", "believe", "remain", "on track", "design", "target", "objective", "goal", "forecast", "projection", "outlook", "prospects", "plan", or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on the Group'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's ability to reach certain minimum vehicle sales volumes; developments in global financial markets and general economic and other conditions; changes in demand for automotive products, which is highly cyclical; the Group's ability to enrich the product portfolio and offer innovative products; the high level of competition in the automotive industry; the Group's ability to expand certain of the Group's brands internationally; changes in the Group's credit ratings; the Group's ability to realize anticipated benefits from any acquisitions, joint venture arrangements and other strategic alliances; potential shortfalls in the Group's defined benefit pension plans; the Group's ability to provide or arrange for adequate access to financing for the Group's dealers and retail customers; the Group's ability to access funding to execute the Group's business plan and improve the Group's business, financial condition and results of operations; various types of claims, lawsuits and other contingent obligations against the Group; disruptions arising from political, social and economic instability; material operating expenditures in relation to compliance with environmental, health and safety regulation; developments in labor and industrial relations and developments in applicable labor laws; increases in costs; disruptions of supply or shortages of raw materials; exchange rate fluctuations, interest rate changes, credit risk and other market risks; political and civil unrest; earthquakes or other disasters and other risks and uncertainties.

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's financial results, is included in the Company's reports and filings with the U.S. Securities and Exchange Commission, the AFM and CONSOB.

On April 26, 2016, at 1p.m. BST, management will hold a conference call to present the 2016 first quarter results to financial analysts and institutional investors. The call can be followed live and a recording will be available later on the Group website (http://www.fcagroup.com/en-us/pages/home.aspx). The supporting document will be made available on the Group website prior to the call.

London, April 26, 2016