EX-99.1 2 d637274dex991.htm EX-99.1 EX-99.1
CNH Industrial N.V.
London -
December 2 -
4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
Exhibit 99.1


2
Introduction to CNH Industrial
1
Sep YTD Results
3
2013 Outlook
2
Appendix
4


3
The debut of a new global leader in capital goods
Merger
completed
on
September
29
th
-
the
resulting
company
incorporated in the Netherlands
First
day
of
trading
-
September
30
th
,
2013
*
On New York Stock Exchange (“NYSE”) as Foreign Private
Issuer and on the Milan Stock Exchange (“MTA”)
Common share capital composition
Total number of common shares 1,348,867,772 with a par
value per share of €0.01
EPS calculated on common shares only
*
See Appendix for Trading mechanisms
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
1


4
Rationale for a Combination
STRATEGIC AND
OPERATIONAL BENEFITS
Simplify ownership structure
Improve stock liquidity, alleviating CNH’s illiquidity
discount to achieve over time a valuation more in line with
global capital goods peers
Create a true peer to major North America-based capital
goods companies, while still capitalizing on scarcity value
as the only significant Ag equipment player listed in
Europe
Attract new capital goods-focused investors and diversify
shareholder base
Broaden research analyst coverage
Improve credit profile and access to capital
Create a truly global top tier capital goods player
Greater scale in developing markets
Secure powertrain technology and know-how for CNH
Unified share structure to enhance strategic flexibility
Simplify intra-group dealings
CAPITAL MARKETS /
VALUATION BENEFITS
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
1


5
A Global Leader in the Capital Goods Sector
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
1
Uniquely diversified across products and geographies
Global top #4 capital goods platform
Global top #2 in agricultural equipment
Global top #2 in commercial vehicles²
,
³
Global top tier in construction equipment
Leading powertrain technology with substantial global
scale in medium-
and heavy-duty diesel engines
Top player in commercial vehicles and machinery in Brazil
Well positioned for growth in developing markets,
particularly China, Russia and India
Source: Company filings
¹
Excluding financial services; converted at exchange rate of 0.778 EUR/USD, 102.7 JPY/EUR and 0.115 EUR/SEK
²
Ranking based on global players (excluding domestic producers in China)
³
By global units shipped, including unconsolidated joint ventures


6
Well-Known Brands and Deep Product Portfolio
1
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
AGRICULTURAL
EQUIPMENT
TRUCKS /
COMMERCIAL
VEHICLES
CONSTRUCTION
EQUIPMENT
POWERTRAIN
Brands
Key Strengths
Case
IH:
The
premium
agriculture
equipment partner supporting
customers around the world with
innovative products, solutions and
services that maximize productivity
New
Holland
Agriculture:
The
farming
specialist with the widest agricultural
equipment offering, a  global presence
with leading positions in Europe and
developing markets
Steyr:
The
first
choice
of
robust
tractors for demanding customers in
Europe, offering superior value and
customized solutions to ensure
sustainable success
FPT:
Major
global
innovator
in
engine and emission control
technology; performance leader
with top ratings from 100 to 870
hp for on-
and off-road, marine
and stationary applications
Case
Construction:
Full
line
offered
globally, with leading positions in Brazil
and in the North America large tractor
loader backhoe and skid steer loader
segments
New
Holland
Construction:
Major
player in the North America housing and
landscaping segments and a
recognized leader in the Brazilian
construction industry
IVECO:
Full
line
of
commercial
vehicles
and buses, leader in specialty vehicles.
Offers alternative fuel solutions and a
unique engine technology achieving
Euro VI limits with SCR-only, improving
total cost of ownership
On-Road Engines
Off-Road Engines
Marine Engines
Industrial Power Generation
Transmissions
Axles
Tractors
Harvesting Equipment
Hay Tools
Planters and Seeders
Tillage Equipment
Specialty Crop Equipment
Light Trucks (Class 2-3)
Medium Trucks (Class 4-7)
Heavy Trucks (Class 8)
Commuter Buses
Touring Coaches
Quarry and Mining Equipment
Firefighting & Specialty Vehicles
Tractor Loader Backhoes
Wheel Loaders
Skid Steer Loaders
Excavators
Dozers
Graders
Key
Product
Lines


7
1
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
Global Industrial Footprint (Excl. JVs)
Note: data as of December 31, 2012
MANUFACTURING FACILITIES
(Total: 64)
EMPLOYEES
(Total: ~68k)
R&D CENTERS
(Total: 49)
17%
North America
14%
Latin America
62%
Europe
7%
Rest of World
10
North America
9
Latin America
37
Europe
8
Rest of World
13
North America
5
Latin America
28
Europe
3
Rest of World


8
1
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
Technological Leadership
Best-in-class Powertrain Capabilities
Strong vehicle platforms
Sharing of components and technologies allowing synergies for R&D and operations as well as shorter time-to-market
Global platforms and localized designs
Best-in-class powertrain offerings
Widest powertrain product range in market with a 3-8 cylinder range and 2.3-20L displacement range
Competitive advantage from integration and control capabilities for propulsion systems
Opportunities to apply technological solutions from high-performance engines to all product lines
Strong base of non-captive customers
Investment in key value components strengthens leadership and innovation pattern for cost efficient technologies
Engine improvement, energy management and energy recovery are key drivers for fuel emission improvement
A complete portfolio of state-of-the-art technologies across powertrains and end-products
Leading powertrain offerings, fully compliant with all international emission standards
Affordable
yet
innovative
solutions
for
increased
productivity
and
efficiency,
offering
best
total
cost
of
ownership
in
on-
and
off-road products
Leadership in unique after treatment systems technology that achieves both Euro VI and Tier 4B standards without EGR


9
1
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
Wide Distribution Network
Long-Standing Dealer Relationship
GLOBAL
DEALERS
Global dealer network provides
worldwide distribution channel
Nearly 6,000 dealers worldwide¹
~60 depots distribute
aftermarket parts within the
dealer network²
Dealers’
local relationships are a
critical part of the value chain
Sales / distribution channel for
machines
Drives parts and service
revenue streams for the installed
base
Long-standing dealer relationships
provide a barrier to new entrants
Network allows CNHI to cross-sell
products through existing channels
(i.e., Ag and Construction)
¹
Includes dealers of unconsolidated joint ventures
²
Includes 7 parts depot joint ventures
Nearly 6,000 dealers worldwide¹


10
1
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
Captive Finance Company
Fully-Aligned and Well Capitalized
Strategic partner with CNH and IVECO brands
Provides a robust suite of financing products
for both CNH and IVECO dealers and end-
users
Provides financing support for CNHI
equipment sales while maintaining a
commitment to strong credit discipline
CNH Capital LLC is an established participant
in the debt markets (Bonds, ABS, Bank debt)
FINANCE
COMPANY
GLOBAL
ORGANIZATION
Financial Services
Other countries in which CNHI
operates are supported by
trade finance
Total Wholesale and Retail outstanding
managed portfolio of €6.4bn and €12.1bn,
respectively as of 12/31/2012
1
PORTFOLIO
COMPOSITION
(AS OF
12/31/2012)
BUSINESS
SEGMENT
GEOGRAPHIC
MIX
(€BN)
1
North America
Europe
Latin America
RoW
1
Converted at exchange rate of 0.758 EUR  /  USD as of 12/31/2012;
managed portfolio including retail unconsolidated joint venture and operating leases


11
Roadmap for new external reporting
IFRS in EUR
Segment reporting consistent with predecessor’s
(Fiat Industrial) prior quarters
Agricultural & Construction Equipment -
Trucks
and Commercial Vehicles -
Powertrain
Supplemental segmentation by Industrial and
Financial Services activities
EU Annual Report and Form 20-F
US GAAP and IFRS in USD
Subsequent to the filing of EU Annual Report and Form 20-F, Company to disclose
Recast of 2011, 2012 and 2013 IFRS from €
to US$
US GAAP 2011, 2012 and 2013 Financial Statements in US$
Segments recast as follow
Agricultural Equipment -
Construction Equipment –
Commercial Vehicles –
Powertrain -
Financial Services
On-going CNHI external reporting (starting from Q1 ’14 Results)
Dual reporting: US GAAP US$ and IFRS US$
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
1


12
Introduction to CNH Industrial
1
Sep YTD Results
3
2013 Outlook
2
Appendix
4


13
FY ’13E
Industry Outlook -
units
Agricultural
Equipment
Trucks and
Commercial
Vehicles
Construction
Equipment
COMBINES
HEAVY
LIGHT
INDUSTRY
(>3.5T)
FY 2013E
NAFTA
5-10%
EMEA
(0-5%)
LATAM
15-20%
APAC
5-10%
Worldwide
5-10%
FY 2013E
NAFTA
5-10%
EMEA
(0-5%)
LATAM
40-45%
APAC
10-15%
Worldwide
10-15%
FY 2013E
NAFTA
0-5%
EMEA
(5-10%)
LATAM
5-10%
APAC
(0-5%)
Worldwide
(0-5%)
FY 2013E
NAFTA
(5-10%)
EMEA
(5-10%)
LATAM
~5%
APAC
(0-5%)
Worldwide
(0-5%)
FY 2013E
EU27
-5% / Flat
LATAM
+5% / +10%
TRACTORS
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
2


14
Introduction to CNH Industrial
1
Sep YTD Results
3
2013 Outlook
2
Appendix
4


15
Sep YTD ’13 financial highlights
Net profit
(€/mn)
744
747
Net industrial debt
(€/bn)
1.6
2.5
Available liquidity
*
(€/bn)
4.9
6.2
Increased by €860mn, with positive
operating performance offset by a
seasonal increase in working capital,
sustained capital expenditures (mostly
due to new product related initiatives),
dividend payments and currency effects
Revenues
(€/bn)
Trading profit
(€/mn)
Trading margin
Up 0.4% vs. last year. Up 4.3% at
constant currency, as sales increase
for Agricultural Equipment and
Powertrain compensated for lower
revenue in Construction Equipment 
and Trucks and CVs
Down 4.9% vs. last year. Down 0.7% 
on a constant currency basis, primarily
due to lower profitability from negative
volume/mix, pricing pressures and
negative FX rate impacts affecting   
both Trucks and CVs and CE, offset   
by improved results for the AG business
driven primarily by positive pricing
Decreased by €1.3bn, impacted by
repayment of $1bn bond (Sep. ’13),
partially offset by new financing
associated with Financial Services
portfolio growth, including a $600mn
bond (€444mn equivalent) issued in April
0.4%
-4.9%
18.8
18.8
-0.5 p.p.
1,628
1,549
8.7%
8.2%
Sep YTD ’12
Sep YTD ’13
Sep YTD ’12
Sep YTD ’13
Sep YTD ’12
Sep YTD ’13
Dec-end ’12
Sep-end ’13
Sep YTD ’12
Sep YTD ’13
Dec-end ’12
Sep-end ’13
Note: Sep YTD ’12 figures are provided herein on a restated basis due to the adoption of IAS 19 Revised
Down 0.5 p.p. vs. last year
Up €3mn vs. last year
EPS at €0.504
* Inclusive
of approx. €1.6bn in undrawn committed facilities
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
3


16
Sep YTD ’13 financial highlights
Performance by segment
REVENUES
(€MN)
TRADING
PROFIT
(€MN)
* Including Financial Services figures 
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
3


17
Sep YTD ’13
Revenues growth composition
Agricultural & Construction Equipment *
Trucks & Commercial Vehicles *
Powertrain
(IFRS, €/mn)
Sensitivity Analysis –
Sep YTD 2013 Revenues impact
(€/mn)
Stronger
Foreign Currency
vs. EUR by 10%
Sep YTD '13               
Average FX
Weaker
Foreign Currency
vs. EUR by 10%
USD / EUR
1.185
1.317
1.449
Revenues Impact
660
-
(660)
BRL / EUR
2.513
2.792
3.072
Revenues Impact
269
-
(269)
* Including Financial Services figures
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
3


18
Sep YTD ’13
From trading profit to net result
(€mn)
Sep YTD 2012
Sep YTD 2013
?
Trading profit
1,628
1,549
(79)
Unusual items, net
(140)
(69)
71
Operating income
1,488
1,480
(8)
Financial charges, net
(334)
(344)
(10)
Investment income, net
66
71
5
Profit before taxes
1,220
1,207
(13)
Taxes
(476)
(460)
16
Net profit
744
747
3
EPS (basic)
0.530
0.504
(0.026)
EPS (diluted)
0.530
0.504
(0.026)
“Unusual items, net”:
*
€69mn consisted primarily of restructuring and other charges, including €31mn associated with the unwinding and consolidation of the former JV with
Barclays within the Group’s Financial Services  and restructuring costs  of €20mn mainly related to Trucks & CVs 
“Financial charges, net”:
€344mn
for
the
period,
an
increase
of
€10mn
over
the
same
period
in
2012,
mainly
due
to
the
increase
in
average
net
industrial
debt
“Taxes”:
The effective tax rate of 38% is in line with Group expectations
for the full year
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
3


19
Sep YTD ’13
Cash Flow –
change in Net Industrial Debt
€2.5bn compared with €1.6bn at Dec-end 2012, with positive operating performance offset by a seasonal
increase in working capital, sustained capital expenditures (mostly due to new product related initiatives),
dividend payments and currency effects
(*) Net of Vehicles Buy-back
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
3


20
Sep YTD ’13
Tangible & Intangible Capex
*
at €844mn
BY
CATEGORY
BY
SEGMENT
MAIN
INDUSTRIAL
PROJECTS
(*) Net of Vehicles Buy-back
AG
China
Foshan and Urumqi plants officially inaugurated in July and
August, for sugar cane harvesters and Case IH cotton pickers
Harbin, R&D center officially inaugurated in September
Argentina –
Cordoba: started production for assembly of Combines, and
Specialty Tractors
US –
Goodfield: plant expansion
India –
Pune: land acquisition for harvesting products
Trucks & CVs
Spain/Germany
Madrid/Ulm footprint: CVs and Fire Fighting production
rationalization
Production rump-up in heavy trucks after plant consolidation 
Powertrain
Argentina: Engine production localization
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
3


21
September-end ’13
Balance Sheet and Liquidity position
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
3
1
Represents cash maturities as of 9/30/2013
2
Of which €0.6bn ABS related & Restricted Cash
3
Not included in Sep-end data
Strong available liquidity profile at
€4.9bn as of 9/30/13:
€3.3bn of cash ²
€1.6bn undrawn under medium-
term committed unsecured credit
lines
Well distributed debt maturities
Repaid CNH Inc. $1.0bn (€759mn
equivalent) senior notes in September
2013 with cash on hand
Issued CNH Capital LLC $600mn bond
(€444mn equivalent) in April 2013
Issued CNH Capital LLC $500mn bond
in October 2013 ³
Undrawn M/T Committed Lines
Bank Debt
Capital Market
Cash
Other
As of
9/30/2013
2014
2015
2016
2017
Beyond
3M 2013
€3.3
Available
Liquidity (€bn)
Debt Maturity Schedule¹ (€bn)
€1.6
€4.9
€1.8
€1.2
€2.5
€2.1
€1.5
€2.1


22
Recent Product Launches
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
3
Powertrain
Trucks & CVs
Construction
Equipment
Agricultural
Equipment
Tier 4B T7, T8 and T9 tractors in NA
Sitevi Gold Medal for the Opti-Grape™
technology in Europe
Two Agritechnica Silver Medals for the
Opti-Speed™
straw walkers and the
corn rower header
18 new tractor models in NA that meet Tier 4 emissions
standards
Steiger Quadtrac 620 and new models of Magnum and
Maxxum tractors
Case IH is first and only AG manufacturer to use
Selective Catalytic Reduction (SCR) technology alone to
meet strict Tier 4B emissions standards, while offering
customers best overall fuel efficiency
New Holland in Europe participated to
Nordbau fair in Germany during
September
Waste and recycling special versions of wheel loaders
and crawler excavators in Europe
Midi crawler excavators CX75C SR and CX80C in
North America (CX75C SR  awarded in Rental
Magazine’s “Top Products of 2013”)
LATAM
New Stralis Hi-Way
Version with new cab, higher power and
torque to increase competitiveness in the
Premium segment
EMEA
Iveco Bus “The All New Euro VI
Range
(5% to 10% fuel consumption savings)
Crossway, Urbanway Tector 7 and Magelys
Anticipating the introduction of
Euro VI, over 2k Iveco trucks
powered by FPT’s Cursor 11 and
Cursor 13 engines have been
delivered to final customers
Production start-up of
Euro VI engines for
Iveco Bus: N67 in
Turin and Cursor 9 in
Chongqing (China)
FPT’s Tier 4 engines will
power Tigercat’s E-
series skidders, the 726
E feller buncher and the
M726E mulcher
Close cooperation with FPT made
possible for NH to do pioneering work in
low-emission drive solutions


23
Growing Responsibly and Sustainably
CNHI ranked by DJSI as Industrial Engineering sector leader in 2013 for third consecutive year
DJSI World –
Industrial Engineering
Eligible companies:
98
Admitted companies:
12
Our Company (Leader)
ABB LTD
ALSTOM SA
ATLAS COPCO AB
CUMMINS INC
INGERSOLL-RAND PLC
KOMATSU LTD
MAN SE
METSO
OYJ
(new
entry)
SKF AB
VOLVO AB
XYLEM INC
Our Score
Highest score
Average score
Economic
38%
Weighting
of total score
Environmental
31%
Weighting
of total score
Social
31%
Weighting
of total score
Our Score
Highest score
Average score
Our Score
Highest score
Average score
DJSI World and Europe equity
indexes only admit companies that
are best-in-class in managing their
businesses according to sustainability
criteria
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
3


24
Introduction to CNH Industrial
1
Sep YTD Results
3
2013 Outlook
2
Appendix
4


25
Trading mechanism
CNH
Industrial
-
common
shares
CNHI common shares are listed in the United States and Italy and
can be
traded on either the NYSE in US Dollars or MTA, managed by Borsa
Italiana S.p.A., in Euros
Shares traded on the  NYSE (CUSIP N20944 10 9) are settled through the
Depository Trust & Clearing Corporation (“DTCC”) in the  US while shares
traded on MTA (ISIN NL 0010545661) are settled through Monte Titoli
S.p.A. (“MT”) in Italy
Settlement, both in US and Italy, occurs three business days after trading (T+3)
Computershare, has been appointed as:
US Transfer Agent: Computershare Trust Company, N.A. (Computershare)
Italy loyalty share Branch Registrar: Computershare (previously named Servizio
Titoli) S.p.A. (“ST”)
Common shares may be maintained through a broker/bank/financial
intermediary participant either in the US clearing system  DTCC
or the
Italian clearing system  MT, or they can be held in registered form, on the
register maintained by Computershare
Because MT maintains a participant account within DTCC, investors can
request their broker/financial intermediary to move the common shares
between Italy and US, within DTCC. The transfer can be dealt with in
normal circumstances in 2 business days, but this will depend on
intermediaries involved
Shareholders whose common shares are registered in Loyalty Registers
(maintained by Computershare and ST) outside the regular trading
system, may, at any time, request the  de-registration and to move
common shares back to regular trading system
EPS and market cap has to be calculated on common shares only (as of
Sept. 30th No 1,348,867,772) without regard to the loyalty shares
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
4


26
Net debt breakdown
(IFRS / €bn)
* Net of intersegment receivables
Note: Numbers may not add due to rounding
Dec. 31, ’12
Sep. 30, ’13
Cons.
Ind.
Fin.
Cons.
Ind.
Fin.
20.6
4.6
16.0
Gross Debt*
21.3
4.7
16.5
-
-
-
Derivatives M-to-M, Net
(0.1)
(0.1)
0.0
(4.6)
(2.9)
(1.7)
Cash & Mktable Securities
(3.3)
(2.1)
(1.2)
16.0
1.6
14.3
Net Debt
17.9
2.5
15.4
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
4


27
Gross debt
(IFRS / €bn)
*
Sales of Receivables Off  Balance (IFRS de-recognition compliant): €0.7bn 
Outstanding
Dec. 31, ’12
Outstanding
Sep. 30, ’13
10.9
Cash Maturities
11.2
5.2
Bank Debt
5.7
5.6
Capital Market
5.2
0.2
Other Debt
0.2
9.7
Securitization and Sale of Receivables (on book)*
10.1
7.5
ABS / Securitization
8.3
0.5
Warehouse Facilities
0.6
1.6
Sale of Receivables
1.2
0.0
Adjust. for Hedge Accounting on Fin. Payables
0.0
20.6
Gross Debt
21.3
4.6
Cash & Mktable Securities
3.3
0.0
Derivatives Fair Value
0.1
16.0
Net Debt
17.9
1.6
Undrawn committed credit lines
1.6
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
4


28
Debt maturity schedule
(IFRS / €bn)
Note: Numbers may not add due to rounding
*
With a residual tenor greater than 12 months
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference
4


29
Safe Harbor Statement
Certain statements contained in this document that are not statements of historical fact constitute forward-looking statements, notwithstanding that such
statements are not specifically identified. Words such as “forecast”, “projection”, “outlook”, “prospects”, ”expected”, “estimates”,  “plan”, “anticipate”,
“intend”, “believe”, or other words or phrases to the same effect often identify forward-looking statements. Forward-looking statements are not guarantees
of future performance. Rather, they are based on current views and assumptions and involve known and unknown risks, uncertainties and other factors,
many of which are outside the Company’s control and are difficult to predict, If any of these risks and uncertainties materialize or other assumptions
underlying any of the forward-looking statements prove to be incorrect the actual results or developments may differ (possibly materially) from any future
results or developments expressed or implied by the forward-looking statements. Factors, risks and uncertainties that could cause actual results to differ
(possibly materially) from those contemplated by the forward-looking statements include, among others: the many interrelated factors that affect consumer
confidence and worldwide demand for capital goods and capital goods-related products; factors affecting the agricultural business including commodity
prices, weather, floods, earthquakes or other natural disasters,
and government farm programs;  general economic conditions in each of the Group’s
markets; changes in government policies regarding banking, monetary and fiscal policies; legislation, particularly relating to capital goods-related issues
such as agriculture, the environment, debt relief and subsidy program policies, trade and commerce and infrastructure development; actions of competitors
in the various industries in which the Group competes; development and use of new technologies and technological difficulties; production difficulties,
including capacity and supply constraints and excess inventory levels; labor relations; interest rates and currency exchange rates; inflation and deflation;
energy prices; housing starts and other construction activity; the Group’s ability to obtain financing or to refinance existing debt; a decline in price of used
vehicles, the resolution of pending litigation and investigation, the evolution of the Group’s alliance with Kobelco Construction Machinery Co., Ltd;  the
Group’s pension plans and other post-employment obligations; political and civil unrest; volatility and deterioration of capital and financial markets, including
further worsening of the Eurozone sovereign debt crisis, other similar risks and uncertainties; and the Company’s success in managing the risks involved in
the foregoing. Additional information concerning factors, risks,
and uncertainties that could cause actual results to differ materially is contained in the
registration statement declared effective by the U.S. Securities
and Exchange Commission on June 21, 2013 and is incorporated by
reference herein.
Investors should refer and consider the incorporated information
on risks, factors, and uncertainties in addition to the information presented here.
Forward-looking statements speak only as of the  date on which such statements are made. Furthermore, in light of ongoing difficult macroeconomic
conditions, both globally and in the industries in which CNH Industrial operates, it is particularly difficult to forecast results, and any estimates or forecasts
of particular periods that are provided in this document are uncertain. Accordingly, investors should not place undue reliance on such forward-looking
statements. Actual results could differ materially from those anticipated in such forward-looking statements. CNH Industrial does not undertake an
obligation to update or revise publicly any forward-looking statements.
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference


Group Investor Relations Team
Manfred
Markevitch
Head
of
Investor
Relations
+41 (91) 985 -
3801
Federico Donati
+39 (011) 00 -
62756
Noah Weiss
+1 (630) 887 -
3745
e-mail: investor.relations@cnhind.com
website: www.cnhindustrial.com
30
Contacts
London –
December 2-4, 2013
Goldman Sachs Fifth Annual European Industrials Conference