Stellantis N.V.

Hello and welcome to the Stellantis Q1 2026 financial results call. You will have the opportunity to ask questions at the end of the call by typing pound key five on your telephone keypad. Please do not exceed one question per person and, if necessary, an additional one. I now give the floor to Mr. Charlie Christman, head of investor relations, to begin today's conference. Sir, the floor is yours.

Thank you. Hello, everyone, and thank you for joining us today as we review Stellantis Q1 2026 results. Earlier today, the presentation material for this call, along with the related press release, were posted under the Investors section of the Stellantis Group website. Today, our call is hosted by Antonio Filosa, Chief Executive Officer, and Joao Laranjo, Chief Financial Officer. After their prepared remarks, Antonio and Joao will be available to answer questions from the analysts. Before we begin, I want to point out that any forward-looking statements we might make during today's call are subject to the risks and uncertainties mentioned in the safe harbor statement included on page two of today's presentation. As customary, the call will be governed by that language. I'd also like to point out that with our switch to quarterly reporting, we have made some changes to streamline our earnings presentation. Now, I will hand the call over to Antonio Filosa, Chief Executive Officer of Stellantis.

Thank you. Thank you, Charlie. I thank you all very much for joining us today as we discuss our first quarter results for the year. First, let me say, following the decisive results section taken in 25, our focus is now on discipline execution. And we are seeing early signs of progress, consistent with our expectations. With that, I'm happy to share that quarter one, 26, We are now seeing the results of that successful execution as we deliver the return to profitability. We are now back on a path to sustainable growth with key priorities being growing our business, improving our industrial execution, and enhancing our profitability. This is evident by the market share gains in several regions and the 12% year-over-year growth in shipments. We are very excited about our 10 all-new products and 6 refreshed products in 26. We remain realistic about the pet ahead. The environment remains challenging and across all regions. But our strategy is unchanged. Put the customer at the center of everything we do. empower regions to execute faster, and apply rigorous capital and cost discipline. Now let me touch on some first quarter highlights from a regional perspective. In North America, despite a challenging U.S. market where the industry was down 6%, our sales increased 4%, driven by Ram and by Jeep, we gained approximately 80 basis points of market share. Ram specifically had a very strong quarter one, posting a 20% U.S. sales increase year over year, its best quarter one since 23. This success is what has made Ram the fastest growing brand in the North American industry. We also gained market share in Canada and in Mexico, reflecting consistent progress across all countries. As a result, Stellantis is the fastest growing automaker in North America. Overall, we remain encouraged by our North America order book that remains strong, growing more than 20% year over year. On the product side, We continue to benefit from the late 25 launches ramping up for the new Jeep Cherokee and the new Dodge Charger 6-pack. And looking ahead for 2026, I'm very excited about the upcoming launches of the new Ram SRT TRX, the new Jeep Recon BEV, and our first Ranger Standard, the Jeep Grand Wagoneer Rev coming this year. Turning to a larger Europe, sales were up 5% or 8% up, including LEAP model, as compared to quarter 1.25 to over 730,000 vehicles. Our Euro 30 market share reached 17.5%. This is the highest share in a quarter since quarter 1.24. Adding the sales from LEAP model, our combined market share in Europe increased to 18.1%. We continued our leadership position in hybrids and in key markets such as France and Italy, with strong performance also in Germany and in Spain. Stellantis Pro One closed at quarter one as the European leader in light commercial vehicles with a 28.7% market share. On the European product wave, I would like to add that we continue to benefit from the recent CSUV launches as they further ramp up this year, contributing to Euro 30 sales positively with 12,000 units year-over-year. The smart car lineup has seen Q1 sales up almost 60,000 units year-over-year. And overall, the European order book is up 9%. Turning to South America. We maintained our dominant leadership position with highlights, including the strong results in the region's two major markets. 29% market share in both Brazil and in Argentina. And also we are number two in Chile, another critical market for the region. Let me touch on the important Ram Dakota launch. Ram Dakota launched in late 25 in Argentina and has been ramping up production. and we also launched Ram Dakota in Brazil during this quarter. Ram Dakota addresses the mid-size truck segment, home of the region's largest profit pool. Moving to Middle East and Africa. Market share for the region increases to 11.5%, up 50 basis points year-over-year, driven by 18% year-over-year sales growth in Algeria, and number one positions in both Turkey and Algeria. Geopolitical tensions remain. However, in quarter one, we improved commercial performance, normalized our inventory levels, and remain focused on localization, increasing our production levels both in Algeria and in Turkey. Lastly, in APAC, Shipments saw growth of 15% year-over-year despite a weaker industry environment. All in all, momentum is there, momentum has started, and momentum is strong. And I could not be more proud of our Cellantis teams as they remain focused on improving product and commercial execution and stabilizing volume and mix while reinforcing cost management and operational disciplines. Execution will define 2026. Our priorities are clear and we are confident that the actions we are taking are exactly the right ones. Before I hand you to Joao to walk you through the numbers, just a quick reminder of our upcoming Investor Day event on May 21st, where we will outline the next phase of our strategy with clear priorities, clear targets, and the focus roadmap for execution. Joao?