Groupe Renault - 2020 Universal Registration Document

384 GROUPE RENAULT I UNIVERSAL REGISTRATION DOCUMENT 2020 Find out more at group.renault.com 04 CONSOLIDATED FINANCIAL STATEMENTS FINANCIAL STATEMENTS SHAREHOLDERS’ EQUITY NOTE 18 Share capital 18 - A - The total number of ordinary shares issued and fully paid at December 31, 2020 is 295,722 thousand, with par value of €3.81 per share (unchanged since December 31, 2019). Treasury shares do not bear dividends. They account for 1.53% of Renault’s share capital at December 31, 2020 (1.54% at December 31, 2019). The Nissan group holds approximately 15% of Renault through its wholly-owned subsidiary Nissan Finance Co. Ltd. (no voting rights are attached to these shares). Capital management 18 - B - In managing its capital, the Group’s objective is to guarantee continuity of business in order to provide returns for shareholders and benefits for other stakeholders, and to maintain optimum capital structure in order to optimize its cost. The Group may adjust dividend payments to shareholders, redeem some of the capital or issue new shares. The Group’s objectives are monitored in different ways in the different operating segments. The Sales Financing segment must comply with regulatory ratios specific to banking operations. The minimum solvency ratio (shareholders’ equity including subordinated loans to total weighted risks) is 8%. RCI Banque’s Core Tier 1 solvency ratio is 17.34% at December 31, 2020 (15.27% at December 31, 2019). The Group also partially hedges its investment in Nissan (notes 12-G and 25-B2). Renault treasury shares 18 - C - In accordance with decisions approved at General Shareholders’ Meetings, the Board of Directors decided to allocate all Renault treasury shares to current stock option and performance share plans and other share-based payment agreements awarded to Group managers and executives. December 31, 2020 December 31, 2019 Total value of treasury plans (€ million) 284 344 Total number of treasury shares 4,538,199 4,548,736 Distributions 18 - D - At the General Shareholders’ Meeting of June 19, 2020, it was decided not to distribute dividends. In 2019, the dividends were €3.55 per share giving a total of €1,035 million. Translation adjustment 18 - E - The change in translation adjustment over the year is analyzed as follows: (€ million) 2020 2019 Change in translation adjustment on the value of the investment in Nissan (1,131) 377 Impact, net of tax, of partial hedging of the investment in Nissan (note 12-G) - (157) Total change in translation adjustment related to Nissan (1,131) 220 Changes related to hyperinflationary economies (21) (40) Other changes in translation adjustment (749) 124 TOTAL CHANGE IN TRANSLATION ADJUSTMENT (1,901) 304 Changes related to hyperinflationary economies consist of changes in the translation adjustment attributable to the Argentinian subsidiaries since January 1, 2018. In 2020, the effects of the partial hedge of the net investment in Nissan offset each other, and other changes in the translation adjustment mostly result from movements in the Russian rouble and the Brazilian real.