~ WITHAV—
DHIVYA
SURYADEVARA
Vice President,
Corporate Finance
OverviewINFORMATION RELEVANT TO THIS PRESENTATION
Cautionary Note on Forward-Looking Statements This presentation ond related comments by management may include forward-looking statements
‘These statements are based on current expectations about possible future events and thus are inkerently uncertain. Our actual results may differ
‘materially fom forward-looking statements due toa variety of factors, including: ()) our abilty to deliver new products, services and experiences that
attract new, and are desired by exstng, customers and to effectively compete in autonomous ride-sharing and transportation as a service: (2) sales of
fullsize pick-up trucks and SUVs, which may be affected by increases in the price of ol: (3) the volatility of global sales and operations: () aggressive
‘competition, including the impact of new market entrants (5) changes i, ofthe introduction of novel interpretations of, laws, regulations or polices
particularly those relating to free trade agreements, tax rates and vehicle safety and any government actions that may affect the production, licensing,
distribution, pricing, orseling of our products; (6) our joint ventures, which we cannot operate solely for cur benefit and over which we may have
limited contro (2) compliance with laws and regulations applicable to our industry, including those regarding fuel economy and emissions: (8) costs and
risks associated with tigation and government investigations: (9) compliance with the terms of the Deferred Prosecution Agreement: (10) our ability to
‘maintain quality contro over our vehicles and avoid recalls and the cost and effect on our reputation and products; (1) the ability of suppliers to deliver
parts, systems and components without disruption and on schedule; (12) our dependence on our manufacturing facies; (13) our ability to realize
[production efficiencies and cost reductions: (1) our ability to succesfully restructure operations in various countries; (1) our ability to manage risks
‘related to security breaches and other disruptions to vehicles, information technology networks and systems; (16) our ability to develop captive
financing capabilty through GM Financial (7 significant increases in pension expense or projected pension contributions; (18) significant changes in
‘he econemiz, political, and regulatory environment, market conditions, and foreign currency exchange rates
_Afurther list and description ofthese risks, uncertainties and other factors can be found in our Annual Report on Form 10-k forthe fiscal year ended
‘December 31,2016, and ur subsequent flings with the Securities and Exchange Commission. GM cautions readers not to piace undue reliance on
{forward-looking statements. GM undertakes no obligation to update publicly or otherwise revise any forward-looking statementsChairman and CEO
VisionGM’S WORLD VIEW
GM is committed to a future of:
ZERO ZERO ZERO
CRASHES EMISSIONS CONGESTION
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TECHNOLOGY WILL
HELP UNLOCK THIS FUTUREWE ARE REDEFINING THE FUTURE OF PERSONAL MOBILITY
Winning adjacent Business Electric Vehicles. Autonomous Shared _Driver/Miles
eraaaerana Growth. Connected Car/onstar Vehicles Mobility Driven DataWHILE PUTTING OURSELVES IN A LEADERSHIP POSITION IN THE
FUTURE, WE REMAIN FOCUSED ON STRENGTHENING THE CORE
EBIT-ADJUSTED MARGIN EPS-DILUTED-ADJUSTED
10% 4. sos GMtarget 87.00
‘oe
1% $6.00
$500 °°
8% os
> Lo $400 io
™% pore ast Se
$3.00
He $200 CS
ox $100
% 50.00
201320142015 2016 «2017E 2013-20205 2016. 20N7ESTRONG RESULTS GENERATED SIGNIFICANT CASH
RETURN TO SHAREHOLDERS
$25B Repurchased Returned
RETURNED >25% OF SHARES >90% OF
through dividends OUTSTANDING ADJ.-AUTOMOTIVE
and repurchases FCF
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PROOF POINTS OF DISCIPLINED CAPITAL ALLOCATIONIMPROVING THE CORE WHILE
POSITIONING FOR THE FUTURE
GM IS COMMITTED TO A FUTURE OF
ZERO CRASHES, ZERO EMISSIONS, AND
ZERO CONGESTION
STRONG CORE IS THE FOUNDATION FOR
INVESTING IN THE FUTURE
GM IS DELIVERING ON ITS
COMMITMENTS
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FOCUSED ON DRIVING LONG-TERM
SHAREHOLDER VALUEMARK
REUSS
Executive Vice President,
Global Product
Development, Purchasing
and Supply Chain
ElectrificationOUR ELECTRIFICATION
MISSION
DESIRABLE,
OBTAINABLE, AND
PROFITABLE VEHICLES
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DELIVERING OVER
300 MILES OF RANGEWHY WE WILL SUCCEED
20 YEARS OF EXPERIENCE STRONG
with EV development Chevrolet Bolt EV
performance
ao OPTIMIZED AND FLEXIBLE
BATTERY PACK
will accommodate multiple
4 to lower cost.
segments and vehicles
COMMITMENT
to promote EV adoption and infrastructure
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WELL-POSITIONED TO LEAD IN ELECTRIFICATION
GENERAL morons. BLEVERAGING EXISTING BEV ARCHITECTURE
TO EXPAND IN NEAR TERM
=p MiVEN 30% cost Larger footprint,
reduction lower height
Higher energy Flexible, modular
density design
Cell Cost Cell Cost Improved DC Fast
$145/kWhr $<$100/kWhr Charge
ALL-NEW EME 1.0 BATTERY PLATFORM PROVIDES FLEXIBLE
PACK CONFIGURATIONS AT LOWER COST
GENERAL morons. 6PATH TO PROFITABILITY
Roe ene See re cand
30% Industry growth
oT
Platform for multiple segments
Range options for customer
Leverage China market
Global scale, common architecture
‘Manufacturing efficiency
Today'saoltNearTermEV — FutueeV with less complexity
7
DELIVERING A PROFITABLE PORTFOLIO OFF ALL-NEW PLATFORM
GENERAL morons. ”EV IS THE FOUNDATION FOR AUTONOMOUS VEHICLES
LEVERAGES GM ASSETS
SIMPLER INTEGRATION OF TECHNOLOGIES
OPTIMAL FOR URBAN ENVIRONMENT
fs
SUPPORTS OUR ZERO
EMISSIONS FUTURE
WORLD VIEW
GENERAL morons 8D
AMMANN
President
AV Strategy94%
OF ALL
TRAFFIC FATALITIES
ARE CAUSED BY
HUMAN ERRORCOMMUTERS
WASTE A
FULL WEEK
OF THEIR LIVES IN
TRAFFIC EACH YEARTHE U.S. HAS
3 NON-
RESIDENTIAL
PARKING
SPACES
FOR EVERY CAR
ON THE ROADi}
WE BELIEVE
ALL AVs
MUST BE EVsAV WILL CHANGE THE WORLD
ferrite CTrE TL g Pry
Eee py aie ean)
= Bae appointee te
Creates time husicatlandscape creation of the internet
and freedom
Reshapes | Multi-trillion dollar Total
Saves money entire industries Addressable Market (TAM)
actiniie Very significant moats
GENERAL morons. PyAV BUSINESS WILL SCALE AS A MAJOR TECHNOLOGY PLATFORM
Lyra LT Etat)
CN Pas uC le aul (os
“escape velocity” a cain PE varera
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WE ARE WORKING FIRST ON PRODUCT — THE MOST DIFFICULT PROBLEM
GENERAL morons %AV BUSINESS WILL SCALE AS A MAJOR TECHNOLOGY PLATFORM
Product
OPAC)
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WE ARE WORKING FIRST ON PRODUCT — THE MOST DIFFICULT PROBLEMPRODUCT:
OUR DEFINITION OF
MINIMUM VIABLE
PRODUCT (MVP)
Level 4
Diy
eel
ee!
safety
Cea
oe
easPRODUCT:
COMPLEX ENVIRONMENT = BIGGEST OPPORTUNITY
Economic
Opportunity
Complexity of Environment
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CRITICAL TO SOLVE THE MOST COMPLEX PROBLEMS TO UNLOCK TAM
GENERAL morons. 3PRODUCT:
THE MINIMUM VIABLE PRODUCT (MVP) BAR IS VERY HIGH
GMis the only company parallel iterating a totally integrated solution
, AV-specific
self-driving Deep simulation HD Mapping Proprietary
software “brain” capability and Routing AV sensors Sta
Automotive safety a :
: Cyber-security and Vehicle connectivity AV-specific
core EV aSSroLay cee a electrical architecture and data collection vehicle design
validation
. , Customer support,
Operations Large scale UX interfaces Total cost
infrastructure moniter fee (in car & app) & i ill optimization
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COMMERCIALLY READY MVP IS ~10,000x
MORE DIFFICULT THAN AN AV DEMO.
GENERAL morons. 3PRODUCT:
GM IS ONLY COMPANY BUILDING AVs IN AN ASSEMBLY PLANTPRODUCT:
AV VS. HUMAN DRIVER CAPABILITY
— Human
Capability a
a
Launch (MVP)
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FOCUSED ON MAKING AV SAFER THAN A HUMAN
GENERAL morons. sPRODUCT:
AV VS. HUMAN DRIVER CAPABILITY
— Human
A
a
Launch (MVP)
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SIGNIFICANTLY CHEAPER THAN A HUMAN:
GENERAL morons. 6PRODUCT:
AV VS. HUMAN DRIVER CAPABILITY
— Human
A
a
Launch (MVP)
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AN IMPROVED USER EXPERIENCE AT REDUCED COST DRIVES DEMAND
GENERAL morons. ”PRODUCT:
AV VS. HUMAN DRIVER CAPABILITY
— Human
A
a
Launch (MVP)
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OVERALL AV CAPABILITY WILL IMPROVE AT ~MOORE’S LAW
GENERAL morons. 38AV BUSINESS WILL SCALE AS A MAJOR TECHNOLOGY PLATFORM
LT
First mover
“escape velocit
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BUILDING THE FIRST AV NETWORK AT SCALE CREATES A CRUCIAL MOAT1,500
iru
Pr
NETWORK:
TRANSPORTATION AS A SERVICE
(TAAS) PENETRATION IS AT
VERY EARLY STAGES
Rideshare 1.0 only
~0.1%
OF U.S, MILES DRIVEN
Traveled (B)NETWORK:
FUTURE AV COST CURVE WILL UNLOCK MASSIVE TAM
Pea eu CT ad
Rideshare 1.0 TAM
0.5%-1.0% of miles
< $20B
(Today -$58)
AV TAM @ $1.00 AVTAM @<$1.00
“20% of miles 75% of miles
a ~$750B ~$1.6T (?300x
hdl
€ Most expensive Vehicle Miles Traveled Distribution Least expensive >PRODUCT:
INDICATIVE PER MILE UNIT ECONOMICS COMPARISON
Rideshare 1.0 (San Francisco) ON Crust}
Mostly depreciation/
Costto operations expense
Passenger
Mostly drver/
passenger $150 <$150
incentives E
22.
—
(60.25)
TNCRevenue TNC Cost TNC PBL AVRevenue AV Cost AVRIL
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EARLY AV ALLOWS 40% DISCOUNT TO CUSTOMER WITH BETTER P&L
GENERAL morons. *NETWORK:
DRIVERS OF COST REDUCTION
I orcs yee Loe
Decrease LIDAR by Increase by Increase by
99% ~3x-4x ~2x-3x
Significant reductions in Aircraft maintenance, from initial to optimal
compute platform cost repair, overhaul model
Battery cell cost
<$100/kWh
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A PATH TO WELL UNDER $1 PER MILE COST BY 2025
GENERAL morons. 40NETWORK:
MAXIMIZING UTILIZATION
Fleet size
HOURSIN A DAY
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UTILIZATION MAXIMIZED BY MULTIPLE USE CASES
GENERAL MoroRs Souce NHTSA 2009Hoeols Tae Suney ieNETWORK:
A DIFFERENT KIND OF NETWORK EFFECT
Rideshare 1.0 is not winner takes all Rideshare 2.0 is a totally different dynamic
arent Differentiated and continuously improving
Undifferentiated and static product Tn oe
Common pool of supply across networks Full control over supply
Very high it ialli
Lot customer aid driver switching sts ery high bares to commercially ready
Static cost model Sharply declining cost curve
s
RIDESHARE 2.0 IS NOT SIMPLY AN EXTENSION OF RIDESHARE 1.0
GENERAL morons. 8lene
Cress
eras}
Teed
POWERFUL FIRST ies
MOVER ADVANTAGE
TT
erie
«
per
Pru)
ferrin)
(rg
REET Td
| & Capacity
|
ariel
Control
aaNETWORK:
REGULATORY ENVIRONMENT
FEDERAL STATE
Federal legislation and regulations for 21 states enacted legislation and Governors
Automated Driving Systems (ADS) 2.0 in five states have issued executive orders
are focused on encouraging related to AVs. Eight states already allow
safe deployment of AVs driverless AVs, and other states are
considering steps to facilitate commercial
development of driverless AVs
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GM BELIEVES REGULATIONS WILL SUPPORT SAFE DEPLOYMENT OF AVsNETWORK:
SAFETY IS THE GATING METRIC
Drive
Performance
(log cae)
Human performance in
complex environment
ay a7 Today
Time
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BASED ON OUR CURRENT RATE OF CHANGE, WE EXPECT COMMERCIAL LAUNCH
AT SCALE IN DENSE URBAN ENVIRONMENTS IN 2019
GENERAL morons. aAV BUSINESS WILL SCALE AS A MAJOR TECHNOLOGY PLATFORM
ECSU)
World’s largest
Cem eet escort
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THE FIRST MOVER ADVANTAGE OPENS OPPORTUNITY TO BECOME A PLATFORM
GENERAL morons. 2NETWORK CAN BECOME WORLD’S LARGEST
INTERNET OF THINGS PLATFORM
[il seimproverent
Data monetization
Forecast
services
subscribers Other Taas,
(Logistics companies) operators
& aN
insured incident Infrastructure
evaluation Cy planning
(auto insurers) = penta > [Governments
Pea ceed
oer) Por
ard evel Last mile
video capture Peer) delivery
a > efficiency
ee leon eTeg pe (Logistics
etc SELF-IMPROVING ee companies)
Ecommerce
networks access
(Bat companies) <
Electricity NETWORK AND MOBILE
demand Infrastructure DATA INGESTION Daud Other
optimization ooo epee Pete cae ;
Coes] of transit .OUR UNIQUE APPROACH
ONLY FULLY INTEGRATED DEVELOPER
OF AVs WITH TRUE SCALE CAPABILITY
TOTALLY FOCUSED ON ACHIEVING SAFE
FULLY DRIVERLESS DEPLOYMENT AS
SOON AS POSSIBLE IN A COMPLEX
URBAN ENVIRONMENT
POSITIONED TO DEPLOY AT SCALE
IMMEDIATELY THEREAFTER
SIGNIFICANT MOAT AND FIRST MOVER
ADVANTAGE POST SCALE DEPLOYMENT
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GM IS IN THE LEADExecutionAV TECHNOLOGY:
PHILOSOPHY
ACCELERATE TIMELINE TO FIRST
MAJOR DRIVERLESS DEPLOYMENT
DEPLOY IN KEY MAJOR METRO-AREAS TO DISRUPT.
INCUMBENTS AND DEVELOP COMPETITIVE MOATS
SCALE TO DRIVE DOWN COSTS AND
RAPIDLY DEPLOY IN ADDITIONAL MARKETS
CONTEMPORANEOUSLY, BUILD THE WORLD'S BEST
ENGINEERING TEAM AND CONTINUOUSLY IMPROVE
PRODUCT AT UNMATCHABLE RATETALENT IS THE FOUNDATION
Nina arent
2,100
Chief Technology Officer - from Uber
ab Chief HR Officer — from Netflix
1200%ineeore SSS
« =i Head of Mapping Operations — from Google
The “Jeep” Hackers
2016
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WORLD CLASS TEAM IN CRUISE, WARREN, AND ISRAEL IS DRIVING DEVELOPMENT
GENERAL morons. 2THE SELF-DRIVING HIERARCHY OF NEEDS
ntertain
face
erie
aug
Working on these Cea cry
concurrently
Get me where | want to go
eee
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FOCUSED ON SAFELY GETTING CUSTOMERS WHERE THEY NEED TO GOPRODUCT:
DEVELOPING THE MVP
Av-specific
Core EV platform ven Roden
Operations Large scale UX interfaces Fe eee SPO Total cost
infrastructure production readiness (in car & app) ‘onstar) optimization
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ALL COMPONENTS NEED TO BE DEVELOPED FOR A SUCCESSFUL LAUNCH
GENERAL morons. aEee se asym (Se se Peco CT
pa 2 rae cereal eens eed reed
SELF-DRIVING SOFTWARE “BRAIN”
Cee rare
“Takes an entire ecosystem of technologies to launcha fleet of selfdriving cars,
‘Must work flawlessly together to deliver outstanding quality, performance, and cost
(Mastery of AV tequites best-in-class performance actoss second-tier domains
Localization Machine Learning (ML) Controls
Planning Mapping Networking
Perception Remote Assistance simulation
Safety Dispatch & Routing Test Driving
Behavioral Control
GENERAL morons. aEee se asym (Se se Peco CT
pa 2 rae cereal eens eed reed
SELF-DRIVING SOFTWARE “BRAIN”
Pe ttc ketal eae
‘MLapproaches do not on their own satisfy all safety, performance, and reliability constraints
Using ML in defined and modular tasks that can be trained results in better performance over previous heuristic systems
Use ML when state-of-the-att performance is required; heuristic based approaches to prototype
ual vehicle orientation
Traffic light detection is
eee oe sary Se OO
Visual classification LIDAR segmentation
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WE USE MACHINE LEARNING WHERE IT SAFELY PROVIDES VALUE
GENERAL morons. 8DEEP SIMULATION CAPABILITY
Three simulators for deep testing
Running 150 simulations per minute
Realistic sensor data
Empowering Machine Learning
“Run ~500 simulations prior to merging
SIMULATION ENABLES RAPID IMPROVEMENT
GENERAL morons oHD MAPPING AND ROUTING
Labeling
Utilize proprietary mapping vehicle Combination of automated and manual ‘AVs update the map in real time
—eaiaGiaii tools to ensure high accuracy labels
‘Accuracy within 3cm see heey
Routes adjusted based on AV data
Coripletedin coud enabling scale Accepts other data such as traffic,
Compiled using LIDAR scans, camera
images, cellular coverage maps, and Overlaystrafficsignals in 3D spaceand —_accident locations, construction, etc.
other sources lane markers
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A NEW CITY CAN BE MAPPED IN ~6 MONTHS
GENERAL morons 6PROPRIETARY AV SENSORS
+ Effective range: Ix
a itly Available LIDAR * Cost: ~$20,000 —
eee EES + uate =z
eee + tapectdffectve range: “1254
+ cox", 000
strobe + cM +crise | Retadffctvernge.-254
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STROBE ACQUISITION ENABLES SIGNIFICANT PERFORMANCE IMPROVEMENT
AND COST REDUCTIONAen ee ee es eee
AV SPECIFIC REDUNDANT HARDWARE SYSTEMS
—— Sx LIDAR: build a
comprehensive 3
dimensional view of
1x cameras: detect and tack ‘the world
trafficlights, pedestrians / cyclists,
ree space, and other features
2x articulating RADARS. wide field
‘of view without compromising
range for unprotected turns
double parked vehicles, and
‘minor-major intersections
‘8x RADARS: detect vehicles and
velocities at long ranges
10x ultra-short-range RADARS: low-cost
sensing for objects close to the vehicle
40% OF THE CONTENT IS UNIQUE VS THE BOLT EV
GENERAL morons. o