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20+% ROIC Target Driving Capital Discipline<br />

• Investing in our business<br />

and making tough trade-off<br />

decisions to drive 20+%<br />

ROIC<br />

• Allocating capital to healthy<br />

and growing segments and<br />

markets to optimize<br />

profitability<br />

• Exited Chevrolet Europe<br />

Target<br />

≥ 20%<br />

16.0%<br />

20.2%<br />

20.8% 1<br />

15.4%<br />

27.2%<br />

30.5%<br />

• Discontinued manufacturing<br />

in certain countries<br />

─ Indonesia<br />

─ Russia<br />

─ Australia<br />

• Restructuring Thailand<br />

2012 2013 2014 2015 1H16<br />

Record<br />

ROIC<br />

Exiting Markets Where There Is No Path To Acceptable Returns<br />

1<br />

Represents core operating performance (i.e., adjusted for major recall campaigns)<br />

Note: ROIC is a trailing-four-quarter figure<br />

40

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