1. Thierry MOULONGUET Renault’s CFO & EVP Renault-Nissan Alliance Perspective

2. P / 2 Renault-Nissan Alliance structure: Optimizing the global allocation of resources RENAULT NISSAN Renault-Nissan BV 50% 100% Strategic Management 19 Cross Company Teams (CCTs) Joint companies eg: RNPO - RNIS 4 Functional Task Teams (FTTs) 44.4% 15%

3. P / 3 The 7 management guidelines for the revival of Nissan 1.Focus on profit and organize the decision process around a set of simple financial yardsticks. 2.Link compensation and promotion to performance. 3.Concentrate on the core business. 4.Seek new opportunities for growth. 5.Transform a collection of regional fiefdoms into a global group. 6.Associate public commitments – empowerment – transparency and accountability. 7.Build a budget combining project – global function and regional approaches to stretch the performance through transversality.

4. P / 4 The performance drivers of the Alliance 1.Common platforms 2.Common purchasing 3.Common manufacturing 4.Exchange of best practices 5.Common IS/IT infrastructures 6.Complementarities in the international development of Renault and Nissan 7.Sharing of resources for new R&D development

5. P / 5 Renault-Nissan Alliance : win-win 1.Acceleration of international deployment 2.Economies of scale (purchasing, common engines & platforms, co-development) 3.Sharing of best practices (quality, industrial & engineering) 4.Optimization of capacity utilization 5.Contribution to net result & dividend flow 6.Cooperation on leading technologies Advantages drawn by Renault Advantages drawn by Nissan 1.Initial financial input from Renault 2.New performance orientated culture 3.Cost and vehicle project management 4.Re-invention of a « product policy » 5.Turn-around in Europe 6.Development of captive finance business

6. P / 6 Worldwide production facilities : Complementarities within the Alliance China Indonesia Iran Japan Taiwan Malaysia Uruguay Colombia Morocco Thailand Russia Mexico United States South Africa Spain United Kingdom Argentina Brazil Slovenia Chile Turkey France Korea Romania RenaultRenault Samsung MotorNissanDacia India RenaultRenault Samsung MotorNissanDaciaRenaultRenault Samsung MotorNissanDaciaRenaultRenault Samsung MotorNissanDacia

7. P / 7 Nissan operating margin 1.4% 4.75% 7.9% 10.8% 11.1% 10% 0% 2% 4% 6% 8% 10% 12% 1999 2000 2001 2002 2003 2004

8. P / 8 Nissan - ROIC 0% 5% 10% 15% 20% 25% 1999 2000 2001 2002 2003 2004 1.3% 12.7% 7.5% 19.8% 21.3% 20 %

9. P / 9 A positive impact of Nissan's results in Renault's accounts Dividends received from Nissan Nissan contribution to Renault's results 2000-2004: 894 million euros of dividends received 2004 2003200220012000 50 0 100 150 200 250 300 350 400 0 500 1,000 1,500 2,000 In millions of euros

10. P / 10 Market Capitalization

11. P / 11 The objectives of the Alliance vision - destination  For the quality and value of its products and services, in each region and market segment,  In key technologies,  In terms of operating profit thanks to its strategy of profitable growth. To rank among the top three To rank among the top three automotive groups in the world: