Exhibit 99.1

Interim Report

for the three and nine months ended September 30, 2015

TABLE OF CONTENTS

	Page
BOARD OF DIRECTORS	1
CERTAIN DEFINED TERMS	2
INTRODUCTION	2
MANAGEMENT DISCUSSION AND ANALYSIS	4
Highlights	4
Group Results	6
Liquidity and Capital Resources	27
Outlook	34
INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND NOTES AT SEPTEMBER 30, 2015	35
Condensed Consolidated Income Statements	36
Condensed Consolidated Statements of Comprehensive Income	37
Condensed Consolidated Statements of Financial Position	38
Condensed Consolidated Statements of Cash Flow	39
Condensed Consolidated Statements of Changes in Equity	40
Notes to Condensed Consolidated Financial Statements	41

BOARD OF DIRECTORS

Chairman

John Elkann ⁽³⁾

Chief Executive Officer

Sergio Marchionne

Directors

Andrea Agnelli

Tiberto Brandolini d'Adda

Glenn Earle ⁽¹⁾

Valerie A. Mars ^{(1) (2)}

Ruth J. Simmons ⁽³⁾

Ronald L. Thompson⁽¹⁾

Patience Wheatcroft ^{(1) (3)}

Stephen M. Wolf ⁽²⁾

Ermenegildo Zegna ⁽²⁾

Independent Auditor

 Reconta Ernst & Young S.p.A.

(1)Member of the Audit Committee.

(2)Member of the Compensation Committee.

(3)Member of the Governance and Sustainability Committee.

1

CERTAIN DEFINED TERMS

In this document, unless otherwise specified, the terms “we,” “our,” “us,” the “Company,” the “Group,” and “FCA” refer to Fiat Chrysler Automobiles N.V., together with its subsidiaries, or any one or more of them, as the context may require. References to “Fiat” refer solely to Fiat S.p.A., the predecessor of FCA .    

INTRODUCTION

The Interim Report for the three and nine months ended September 30, 2015 has been prepared in accordance with both the requirements of the International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”) and adopted by the European Union as well as IAS 34 – Interim Financial Reporting. The accounting principles applied in the Interim Condensed Consolidated Financial Statements are consistent with those used for the preparation of the Consolidated Financial Statements at December 31, 2014, except as otherwise stated in “New standards and amendments effective from January 1, 2015” in the Notes to the Interim Condensed Consolidated Financial Statements included elsewhere in this Interim Report.

The Group's financial information is presented in Euro except that, in some instances, information in U.S. Dollars is provided in the Interim Condensed Consolidated Financial Statements and information included elsewhere in this Interim Report. All references in this report to “Euro” and “€” refer to the currency introduced at the start of the third stage of European Economic and Monetary Union pursuant to the Treaty on the Functioning of the European Union, as amended, and all references to “U.S. Dollars,” “U.S. Dollar,”, “Dollars”, “U.S.$” and “$” refer to the currency of the United States of America (or “U.S.”).

This Interim Report is unaudited.

2

Forward-Looking Statements

This document, and in particular the section entitled “Outlook,” contains forward-looking statements. These statements may include terms such as “may,” “will,” “expect,” “could,” “should,” “intend,” “estimate,” “anticipate,” “believe,” “remain,” “on track,” “design,”“target,” “objective,” “goal,” “forecast,” “projection,” “outlook,” “prospects,” “plan,” “intend,” or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on the Group's current expectations and projections about future events and, by their nature, are subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in such statements as a result of a variety of factors, including: the Group's ability to reach certain minimum vehicle sales volumes; developments in global financial markets and general economic and other conditions; changes in demand for automotive products, which is highly cyclical; the Group's ability to enrich the product portfolio and offer innovative products; the high level of competition in the automotive industry; the Group's ability to expand certain of the Group's brands internationally; changes in the Group's credit ratings; the Group's ability to realize anticipated benefits from any acquisitions, joint venture arrangements and other strategic alliances; the Group's ability to integrate its operations; potential shortfalls in the Group's defined benefit pension plans; the Group's ability to provide or arrange for adequate access to financing for the Group's dealers and retail customers; the Group's ability to access funding to execute the Group's business plan and improve the Group's business, financial condition and results of operations; various types of claims, lawsuits and other contingent obligations against the Group; disruptions arising from political, social and economic instability; material operating expenditures in relation to compliance with environmental, health and safety regulations; developments in labor and industrial relations and developments in applicable labor laws; increases in costs, disruptions of supply or shortages of raw materials; exchange rate fluctuations, interest rate changes, credit risk and other market risks; our ability to achieve the benefits expected from the proposed separation of Ferrari; political and civil unrest; earthquakes or other disasters and other risks and uncertainties.

Any forward-looking statements contained in this Interim Report speak only as of the date of this document and the Company does not undertake any obligation to update or revise publicly forward-looking statements. Further information concerning the Group and its businesses, including factors that could materially affect the Company's financial results, is included in the Company's reports and filings with the U.S. Securities and Exchange Commission (“SEC”), the Netherlands Authority for the Financial Markets (stichting Autoriteit Financiële Markten, (the “AFM”), Borsa Italiana S.p.A.and Consob (collectively, the “CONSOB”).

3

MANAGEMENT DISCUSSION AND ANALYSIS

Highlights

For the nine months ended September 30,			For the three months ended September 30,
2015	2014	(€ million, except per share data)	2015		2014
83,092	69,006	Net revenues	27,468		23,553
2,500	2,157	EBIT	360		926
6,745	5,756	EBITDA(1)	1,783		2,166
3,628	2,591	Adjusted EBIT(2)	1,303		968
647	647	Profit/(loss) before taxes	(260	)	415
126	212	Net profit/(loss)	(299	)	188
		Net profit/(loss) attributable to:
92	160	Owners of the parent	(306	)	174
34	52	Non-controlling interest	7		14
0.061	0.132	Basic earnings/(loss) per ordinary share(3)	(0.202	)	0.143
0.061	0.130	Diluted earnings/(loss) per ordinary share(3)	(0.202	)	0.142

(1) EBIT plus Depreciation and Amortization.

(2) Adjusted EBIT is calculated as EBIT excluding gains/(losses) on the disposal of investments, restructuring, impairments, asset write-offs and other unusual income/(expenses) that are considered rare or discrete events that are infrequent in nature. Refer to the Group Results section below for further discussion on Adjusted EBIT.

(3) Note 9 to the Interim Condensed Consolidated Financial Statements provides additional information on the calculation of basic and diluted earnings/(loss) per share.

	At September 30, 2015		At December 31, 2014
Net Debt	(10,262	)	(10,849	)
Of which: Net industrial debt	(7,845	)	(7,654	)
Total equity	14,554		13,738
Equity attributable to owners of the parent	14,197		13,425
Number of employees at period end	238,634		232,165

4

Non-GAAP Financial Measures

We monitor our operations through the use of several non-generally accepted accounting principles, or non-GAAP, financial measures: Net Debt, Net Industrial Debt, Adjusted EBIT, EBITDA and certain information provided at constant currency.

We believe these non-GAAP financial measures provide useful and relevant information regarding our operating results and enhance the overall ability to assess our financial performance and financial position. We believe these measures allow management to view operating trends, perform analytical comparisons, benchmark performance between periods and among our segments, as well as make decisions regarding future spending, resource allocations and other operational decisions.

These and similar measures are widely used in the industry in which we operate, however, these financial measures may not be comparable to other similarly titled measures of other companies and are not intended to be substitutes for measures of financial performance and financial position as prepared in accordance with IFRS.

Net Industrial Debt - Refer to the Liquidity and Capital Resources section below for further discussion.    

Adjusted EBIT - calculated as EBIT excluding: gains/(losses) on the disposal of investments, restructuring, impairments, asset write-offs and other unusual income/(expenses) that are considered rare or discrete events that are infrequent in nature. Refer to the Group Resultssection below for further discussion and refer to Note 24 in the accompanying Interim Condensed Consolidated Financial Statements for a reconciliation of Adjusted EBIT to EBIT.

Constant Currency Information - The discussion within Group Results includes information about our results at constant currency. We calculate constant currency by applying the prior-year average exchange rates to current financial data expressed in local currency in which the relevant financial statements are denominated in order to eliminate the impact of foreign exchange rate fluctuations on the translation from local currency to our Euro reporting currency.

5

Group Results

The following is a discussion of the results of operations for the three and nine months ended September 30, 2015 compared to the three and nine months ended September 30, 2014. The discussion of certain line items (Cost of sales, Selling, general and administrative costs and Research and development costs) includes a presentation of such line items as a percentage of net revenues for the respective periods presented to facilitate comparisons of the related periods.

The Group is no longer presenting the separate line item Other unusual income/(expenses) on the Consolidated Income Statements. All amounts previously reported within the Other unusual income/(expenses) line item have been reclassified into the appropriate line item within the Consolidated Income Statements based upon the nature of the transaction. For the nine months ended September 30, 2014, of the total €405 million previously presented as Other unusual income/(expenses), €98 million related to the remeasurement of our VEF denominated net monetary assets and was reclassified to Cost of sales. In addition, a net €272 million was reclassified to Other income/(expense), which included the €495 million expense recognized in connection with the execution of the memorandum of understanding (the “MOU”) with the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (the “UAW”), entered into by FCA US in January 2014, offset by the non-taxable gain of €223 million on the remeasurement to fair value of the previously exercised options on approximately 10 percent of FCA US's membership interest in connection with the acquisition of the remaining interest in FCA US previously not owned.

Three months ended September 30, 2015 compared to the three months ended September 30, 2014

(€ million)	For the three months ended September 30,
	2015		2014
Net revenues	27,468		23,553
Cost of sales	24,493		20,360
Selling, general and administrative costs	1,896		1,732
Research and development costs	749		598
Result from investments	25		36
Gains on the disposal of investments	—		3
Restructuring costs	13		15
Other income/(expenses)	18		39
EBIT	360		926
Net financial expenses	620		511
Profit/(loss) before taxes	(260	)	415
Tax expense	39		227
Net profit/(loss)	(299	)	188
Net profit/(loss) attributable to:
Owners of the parent	(306	)	174
Non-controlling interest	7		14

6

Net revenues

	For the three months ended September 30,		Increase/(decrease)
(€ million, except percentages)	2015	2014	2015 vs. 2014
Net revenues	27,468	23,553	3,915	16.6	%

Net revenues for the three months ended September 30, 2015 were €27.5 billion, reflecting an increase of €3.9 billion, or 16.6 percent (6.0 percent at constant currency), from €23.6 billion for the three months ended September 30, 2014.

The increase in Net revenues was primarily attributable to (i) a €4.6 billionincrease in NAFTA Net revenues related to an increase in shipments and favorable foreign currency translation effects (ii) a €0.5 billionincrease in EMEA mainly attributable to an increase in shipments, favorable product mix and improved net pricing (iii) an increase of €0.3 billion in Components, and was partially offset by (iv) a decrease of €0.6 billion in LATAM which was attributable to the combined effect of lower vehicle shipments resulting from poor trading conditions in the region's principal markets, which were partially offset by favorable product mix and improved net pricing and (v) a decrease of €0.7 billion in APAC primarily related to the decrease in volume that resulted from strong competition in China, the disruption in shipments from the explosions at the Port of Tianjin as described below and reduced shipments in Australia.

On August 12, 2015, a series of explosions which occurred at a container storage station at the Port of Tianjin, China, impacted several storage areas containing approximately 25,000 FCA branded vehicles of which approximately 13,300 are owned by FCA and approximately 11,400 vehicles were previously sold to our distributor. As a result of the explosions, nearly all of the vehicles at the Port of Tianjin were affected and some were destroyed. During the three months ended September 30, 2015, €89 million was recorded as a reduction to Net revenues that related to incremental incentives for vehicles affected by the explosions, which has been excluded from Adjusted EBIT.

See — Results by Segment below for a detailed discussion of Net revenues by segment.

Cost of sales

	For the three months ended September 30,						Increase/(decrease)
(€ million, except percentages)	2015	Percentage of net revenues		2014	Percentage of net revenues		2015 vs. 2014
Cost of sales	24,493	89.2	%	20,360	86.4	%	4,133	20.3	%

Cost of sales for the three months ended September 30, 2015 was €24.5 billion, reflecting an increase of €4.1 billion, or 20.3 percent (9.1 percent at constant currency), from €20.4 billion for the three months ended September 30, 2014. As a percentage of Net revenues, Cost of sales was 89.2 percent for the three months ended September 30, 2015 compared to 86.4 percent for the three months ended September 30, 2014.

The increase in Cost of sales was primarily due to the combination of (i) a €0.7 billion increase related to increased volume primarily in the NAFTA, EMEA and Components segments, which was partially offset by a reduction in volume in LATAM and APAC (ii) a €0.4 billion increase related to product mix, (ii) the increase in warranty expense in NAFTA as described below (iii) higher input cost inflation and Pernambuco start-up costs and (iv) foreign currency translation effects of €2.3 billion primarily related to the strengthening of the U.S. Dollar, which were partially offset by purchasing efficiencies.

7

  Given recent increases in both the cost and frequency of recall campaigns and increased regulatory activity across the industry in the U.S and Canada, an additional actuarial analysis, that gives greater weight to the more recent calendar year trends in recall campaign experience, has been added to the adequacy assessment to estimate future recall costs. This reassessment resulted in a change in estimate for the campaign accrual of €761 million for the U.S. and Canada for estimated future recall campaign costs for vehicles sold in prior periods, which has been excluded from Adjusted EBIT. In addition, and in connection with this reassessment, we recorded a €65 million charge related to the increase in the accrual rate per vehicle for vehicles sold during the three months ended September 30, 2015, which is included in Adjusted EBIT.

In addition, €53 million related to the write-down of inventory to the estimated net realizable value for vehicles affected by the explosions at the Port of Tianjin was recorded within Cost of Sales for the three months ended September 30, 2015 and has been excluded from Adjusted EBIT.

Selling, general and administrative costs

	For the three months ended September 30,						Increase/(decrease)
(€ million, except percentages)	2015	Percentage of net revenues		2014	Percentage of net revenues		2015 vs. 2014
Selling, general and administrative costs	1,896	6.9	%	1,732	7.4	%	164	9.5	%

Selling, general and administrative costs include advertising, personnel, and other costs. Advertising costs accounted for approximately 45 and 43 percent of total Selling, general and administrative costs for the three months ended September 30, 2015 and 2014, respectively.

Selling, general and administrative costs for the three months ended September 30, 2015 were €1.9 billion, reflecting an increase of €0.2 billion, or 9.5 percent (1.6 percent at constant currency), from €1.7 billion for the three months ended September 30, 2014. As a percentage of Net revenues, Selling, general and administrative costs were 6.9 percent in the three months ended September 30, 2015 compared to 7.4 percent in the three months ended September 30, 2014.

The increase in Selling, general and administrative costs was primarily due to foreign currency translation effects resulting from the strengthening of the U.S. Dollar against the Euro and by advertising costs in EMEA to support the all-new Fiat 500X and the all-new 2015 Jeep Renegade.

Research and development costs

	For the three months ended September 30,						Increase/(decrease)
(€ million, except percentages)	2015	Percentage of net revenues		2014	Percentage of net revenues		2015 vs. 2014
Research and development costs expensed during the year	418	1.5	%	321	1.4	%	97		30.2	%
Amortization of capitalized development costs	331	1.2	%	275	1.2	%	56		20.4	%
Write-off of costs previously capitalized	—	n.m.(1)		2	n.m.(1)		(2	)	(100.0	)%
Research and development costs	749	2.7	%	598	2.5	%	151		25.3	%

__________________________

⁽¹⁾ Number is not meaningful.

Research and development costs for the three months ended September 30, 2015 were €749 million, reflecting an increase of €151 million, or 25.3 percent, from €598 million for the three months ended September 30, 2014. At constant currency, there was an increase of €94 million or 15.7 percent. As a percentage of Net revenues, Research and development costs were 2.7 percent for the three months ended September 30, 2015 and 2.5 percent for the three months ended September 30, 2014. Total Research and development costs expensed in the three months ended September 30, 2015increased by €97 million, largely attributable to continued research to support the development of new and existing vehicles.

8

Total expenditures on research and development amounted to €1,027 million for the three months ended September 30, 2015, reflecting an increase of 19.8 percent, from €857 million, for the three months ended September 30, 2014. Development costs capitalized were €609 million (59.3 percent of total expenditures on research and development) for the three months ended September 30, 2015, as compared to €536 million (62.5 percent of total expenditures on research and development) for the three months ended September 30, 2014.

Result from investments

	For the three months ended September 30,		Increase/(decrease)
(€ million, except percentages)	2015	2014	2015 vs. 2014
Result from investments	25	36	(11	)	(30.6	)%

Result from investments for the three months ended September 30, 2015 was €25 million, which was a decrease of €11 million, or 30.6 percent, from €36 million for the three months ended September 30, 2014. The decrease in Result from investments was primarily attributable to losses incurred in RCS MediaGroup and GAC Fiat Chrysler Automobiles Co. Ltd., partly offset by improved results of FCA Bank S.p.A. (“FCA Bank”) and Tofas-Turk Otomobil Fabrikasi A.S.(“Tofas”).

EBIT

	For the three months ended September 30,		Increase/(decrease)
(€ million, except percentages)	2015	2014	2015 vs. 2014
EBIT	360	926	(566	)	(61.1	)%

EBIT for the three months ended September 30, 2015 was €360 million, which reflected a decrease of €566 million, or 61.1 percent, from €926 million for the three months ended September 30, 2014. The decrease was primarily due to a charge of €761 million related to the change in estimate for future recall campaign costs in the U.S. and Canada for vehicles sold in prior periods and a €65 million charge related to the increase in the accrual rate per vehicle for vehicles sold during the three months ended September 30, 2015 (as described above)as well as €142 million recognized for vehicles that were affected by the explosions at the Port of Tianjin for the write-down of inventory to the estimated net realizable value (€53 million) and incremental incentives recorded as a reduction to Net revenues (€89 million). The effect of these items was partially offset by otherwise strong performance in NAFTA and improved results in EMEA, Ferrari and Components as discussed in the section Results by Segment below.

Adjusted EBIT

	For the three months ended September 30,		Increase/(decrease)
(€ million, except percentages)	2015	2014	2015 vs. 2014
Adjusted EBIT	1,303	968	335	34.6	%

Adjusted EBIT increased by €335 million to €1,303 million, or 34.6 percent (€143 million or 14.8 percent at constant currency) due to the combined effect of (i) the strong performance in NAFTA primarily driven by higher volumes, improved mix and pricing as well as positive translation impacts related to the strengthening U.S. Dollar, partly offset by an increase in recall accrual rates and product costs for vehicle content enhancements, net of purchasing efficiencies (ii) continued improvement in EMEA, primarily attributable to volume increase, a more favorable product mix and improved net pricing, which was partially offset by an increase in advertising costs (iii) increased volumes in Ferrari and Components, (iv) a decrease in LATAM, primarily related to lower volumes due to the poor market conditions, which was partially offset by favorable net pricing and favorable product mix mainly attributable to the all-new 2015 Jeep Renegade, (v) a decrease in APAC as a result of lower volumes due to strong competition from local producers in China, the disruption in shipments from the explosions at the Port of Tianjin and reduced shipments in Australia due to pricing actions, as well as negative foreign exchange effects and (vi) a decrease in Maserati primarily as a result of lower volumes, unfavorable mix and an increase in industrial costs which included the start-up costs for the Levante, the new sports utility vehicle ("SUV") model that will be launched in 2016.

9

Net financial expenses

	For the three months ended September 30,		Increase/(decrease)
(€ million, except percentages)	2015	2014	2015 vs. 2014
Net financial expenses	620	511	109	21.3	%

Net financial expenses for the three months ended September 30, 2015 were €620 million, reflecting an increase of €109 million, or 21.3 percent (23.5 percent at constant currency), from €511 million for the three months ended September 30, 2014. The increase was mainly attributable to higher debt levels and interest rates in Brazil. The increase was partially offset by interest cost savings resulting from the reduction in overall gross debt and refinancing actions during the three months ended June 30, 2015, which included the unsecured senior debt securities issued by FCA and the prepayment of FCA US's 8% secured senior notes due June 15, 2019.

Tax expense

	For the three months ended September 30,		Increase/(decrease)
(€ million, except percentages)	2015	2014	2015 vs. 2014
Tax expense	39	227	(188	)	(82.8	)%

Tax expense for the three months ended September 30, 2015 was €39 million, reflecting a decrease of €188 million, or 82.8 percent from €227 million for the three months ended September 30, 2014 mainly due to decreased profit before tax which was partially offset by tax losses in jurisdictions where we do not record benefits on tax losses.

Nine months ended September 30, 2015 compared to the nine months ended September 30, 2014

(€ million)	For the nine months ended September 30,
	2015		2014
Net revenues	83,092		69,006
Cost of sales	72,551		59,790
Selling, general and administrative costs	5,879		5,184
Research and development costs	2,208		1,825
Result from investments	120		105
Gains on the disposal of investments	—		11
Restructuring costs	25		23
Other income/(expenses)	(49	)	(143	)
EBIT	2,500		2,157
Net financial expenses	1,853		1,510
Profit/(loss) before taxes	647		647
Tax expense	521		435
Net profit/(loss)	126		212
Net profit/(loss) attributable to:
Owners of the parent	92		160
Non-controlling interest	34		52

10

Net revenues

	For the nine months ended September 30,		Increase/(decrease)
(€ million, except percentages)	2015	2014	2015 vs. 2014
Net revenues	83,092	69,006	14,086	20.4	%

Net revenues for the nine months ended September 30, 2015 were €83.1 billion, reflecting an increase of €14.1 billion, or 20.4 percent (6.7 percent at constant currency), from €69.0 billion for the nine months ended September 30, 2014.

The increase in Net revenues was primarily attributable to (i) a €13.9 billionincrease in NAFTA related to an increase in shipments, improved net pricing and favorable foreign currency translation effects (ii) a €1.7 billionincrease in EMEA mainly attributable to an increase in shipments, improved net pricing and favorable product mix, (iii) an increase of €1.1 billion in Components, and was partially offset by (iv) a decrease of €1.4 billion in LATAM that was attributable to the effect of lower vehicle shipments resulting from poor trading conditions in the region's principal markets that was partially offset by positive pricing and favorable product mix primarily related to the all-new 2015 Jeep Renegade (v) a decrease of €0.7 billion in APAC which was primarily attributable to lower volumes driven by strong competition in China and the disruption in shipments from the explosions at the Port of Tianjin as well as the €89 million of incremental incentives recorded as a reduction to Net revenues for vehicles affected by the explosions (described above) and (vi) a decrease of €0.4 billion in Maserati primarily resulting from lower volumes, due to weaker segment demand in the U.S. and China, as well as unfavorable mix.

See — Results by Segment below for a detailed discussion of Net revenues by segment.

Cost of sales

	For the nine months ended September 30,						Increase/(decrease)
(€ million, except percentages)	2015	Percentage of net revenues		2014	Percentage of net revenues		2015 vs. 2014
Cost of sales	72,551	87.3	%	59,790	86.6	%	12,761	21.3	%

Cost of sales for the nine months ended September 30, 2015 was €72.6 billion, reflecting an increase of €12.8 billion, or 21.3 percent (7.4 percent at constant currency), from €59.8 billion for the nine months ended September 30, 2014. As a percentage of Net revenues, Cost of sales was 87.3 percent for the nine months ended September 30, 2015 compared to 86.6 percent for the nine months ended September 30, 2014.

The increase in Cost of sales was primarily due to the combination of (i) a €3.6 billion increase related to both increased volumes in the NAFTA, EMEA and Components segments, partially offset by a reduction in volume in LATAM and APAC, and improved product mix (ii) the change in estimate for the campaign accrual of €761 million for the U.S. and Canada for estimated future recall campaign costs for vehicles sold in prior periods, which has been excluded from Adjusted EBIT as well as the €65 million charge related to the increase in the accrual rate per vehicle for vehicles sold during the three months ended September 30, 2015, which is included in Adjusted EBIT (iii) higher input cost inflation and Pernambuco start-up costs and (iv) foreign currency translation effects of €8.3 billion primarily related to the strengthening of the U.S. Dollar.

Cost of sales for the nine months ended September 30, 2015 also included the €53 million related to the write-down of inventory to the estimated net realizable value for vehicles affected by the explosions at the Port of Tianjin (described above) and the total €80 million charge resulting from the adoption of the SIMADI exchange rate at June 30, 2015 due to the continuing deterioration of the economic conditions in Venezuela (€53 million) and the write-down of inventory in Venezuela to the lower of cost or net realizable value (€27 million) as, due to pricing controls, we are unable to increase the VEF sales price in Venezuela to compensate for the devaluation as described in more detail in the Results by Segment - LATAM section below. These costs described above were excluded from Adjusted EBIT for the nine months ended September 30, 2015.

For the nine months ended September 30, 2014, Cost of Sales included €98 million related to the Group's use of the SICAD I rate to remeasure our VEF denominated net monetary assets, which was excluded from Adjusted EBIT.

11

Selling, general and administrative costs

	For the nine months ended September 30,						Increase/(decrease)
(€ million, except percentages)	2015	Percentage of net revenues		2014	Percentage of net revenues		2015 vs. 2014
Selling, general and administrative costs	5,879	7.1	%	5,184	7.5	%	695	13.4	%

Selling, general and administrative costs include advertising, personnel, and other costs. Advertising costs accounted for approximately 46 percent of total Selling, general and administrative costs for the nine months ended September 30, 2015 and 44 percent for the nine months ended September 30, 2014.

Selling, general and administrative costs for the nine months ended September 30, 2015 were €5.9 billion, reflecting an increase of €0.7 billion, or 13.4 percent (2.7 percent at constant currency), from €5.2 billion for the nine months ended September 30, 2014. As a percentage of Net revenues, Selling, general and administrative costs were 7.1 percent in the nine months ended September 30, 2015 compared to 7.5 percent in the nine months ended September 30, 2014.

The increase in Selling, general and administrative costs was due to (i) foreign currency translation of €0.6 billion, primarily resulting from the strengthening of the U.S. Dollar against the Euro (ii) an increase in advertising expenses for the EMEA and NAFTA segments for new product launches, which were partially offset by lower marketing expenses in APAC and Maserati and (iii) launch costs related to the all-new 2015 Jeep Renegade and start-up costs for the Pernambuco plant in the LATAM segment.

Research and development costs

	For the nine months ended September 30,						Increase/(decrease)
(€ million, except percentages)	2015	Percentage of net revenues		2014	Percentage of net revenues		2015 vs. 2014
Research and development costs expensed	1,227	1.5	%	1,027	1.5	%	200		19.5	%
Amortization of capitalized development costs	979	1.2	%	781	1.1	%	198		25.4	%
Write-off of costs previously capitalized	2	n.m.(1)		17	n.m.(1)		(15	)	(88.2	)%
Research and development costs	2,208	2.7	%	1,825	2.6	%	383		21.0	%

__________________________

⁽¹⁾ Number is not meaningful.

Research and development costs for the nine months ended September 30, 2015 were €2.2 billion, reflecting an increase of €0.4 billion, or 21.0 percent (€0.2 billion or 9.6 percent at constant currency), from €1.8 billion for the nine months ended September 30, 2014. As a percentage of Net revenues, Research and development costs were 2.7 percent for the nine months ended September 30, 2015 and 2.6 percent for the nine months ended September 30, 2014. Total research and development costs expensed in the nine months ended September 30, 2015increased by €0.2 billion, largely attributable to continued research to support the development of new and existing vehicles.

The increase in amortization of capitalized development costs was mainly attributable to the launch of new products primarily related to the NAFTA segment driven by the all-new 2015 Jeep Renegade, the Dodge Challenger and the 2015 Chrysler 300, as well as the EMEA segment driven by the all-new 2015 Fiat 500X.

Total expenditures on research and development amounted to €3.1 billion for the nine months ended September 30, 2015, reflecting an increase of 22.9 percent, from €2.5 billion, for the nine months ended September 30, 2014, which is in line with the Group's product development established in the 2014-2018 business plan. Development costs capitalized were €1.9 billion (60.8 percent of total expenditures on research and development) for the nine months ended September 30, 2015, as compared to €1.5 billion (59.7 percent of total expenditures on research and development) for the nine months ended September 30, 2014.

12

Result from investments

	For the nine months ended September 30,		Increase/(decrease)
(€ million, except percentages)	2015	2014	2015 vs. 2014
Result from investments	120	105	15	14.3	%

Result from investments for the nine months ended September 30, 2015 was €120 million, reflecting an increase of €15 million, or 14.3 percent, from €105 million for the nine months ended September 30, 2014. The increase in Result from investments was primarily attributable to improved results of FCA Bank and Tofas.

Other income/(expenses)

	For the nine months ended September 30,				Increase/(decrease)
(€ million, except percentages)	2015		2014		2015 vs. 2014
Other income/(expenses)	(49	)	(143	)	(94	)	(65.7	)%

Other expenses, net for thenine months ended September 30, 2015 amounted to €49 million, as compared to €143 million for the nine months ended September 30, 2014.

For the nine months ended September 30, 2015, Other expenses, net included an €81 million charge resulting from a consent order agreed with NHTSA on July 24, 2015, (the “Consent Order”) which resolved the issues raised by NHTSA with respect to FCA US's execution of 23 recall campaigns in NHTSA's Special Order issued to FCA US on May 22, 2015. Pursuant to the Consent Order, FCA US made a U.S.$70 million (€63 million) cash payment to NHTSA in September 2015 and will spend U.S.$20 million (€18 million) on industry and consumer outreach activities and incentives to enhance certain recall and service campaign completion rates.

For the nine months ended September 30, 2014, Other expenses, net primarily related to the €495 million expense recognized in connection with the execution of the MOU with the UAW entered into by FCA US in January 2014, which was partially offset by the non-taxable gain of €223 million on the remeasurement to fair value of the previously exercised options on approximately 10 percent of FCA US's membership interest in connection with the acquisition of the remaining equity interest in FCA US previously not owned. There were no other items that were individually material.

EBIT

	For the nine months ended September 30,		Increase/(decrease)
(€ million, except percentages)	2015	2014	2015 vs. 2014
EBIT	2,500	2,157	343	15.9	%

EBIT for the nine months ended September 30, 2015 was €2.5 billion, reflecting an increase of €343 million, or 15.9 percent, from €2.2 billion for the nine months ended September 30, 2014. The increase was primarily driven by (i) strong performance in NAFTA reflecting an increase of €1,240 million that was principally driven by increased volumes, which was partially offset by the €761 million related to the change in estimate for future recall campaign costs for vehicles sold in the period as described above, as well as the €81 million charge resulting from the Consent Order entered into by FCA US with NHTSA (ii) continued improvement in EMEA resulting in an increase of €243 million (iii) a €94 million increase in Components (iv) an increase of €85 million in Ferrari, and was partially offset by (v) lower results in APAC of €525 million which included the total €142 million recorded for the write-down of inventory and incremental incentives for vehicles affected by the explosions at the Port of Tianjin (vi) a decrease of €277 million in LATAM including the €80 million charge related to the adoption of the Venezuelan government's SIMADI exchange rate at June 30, 2015 and the write-down of inventory in Venezuela to the lower of cost or net realizable value due to the continuing deterioration of the economic conditions in Venezuela (described in more detail in the Results by Segment - LATAM section below) and (vii) a decrease of €122 million in Maserati. The year over year results also reflect a positive translation impact from the strengthening of the U.S. Dollar, which was partially offset by negative foreign currency transactional impacts.

13

For the nine months ended September 30, 2014, EBIT included the €495 million charge connected with the execution of the MOU with the UAW entered into by FCA US in January 2014, the €98 million charge resulting from the remeasurement of our VEF denominated net monetary assets and the €15 million cost related to the resignation of the former Ferrari chairman. These costs were partially offset by the non-taxable gain of €223 million on the fair value remeasurement of the previously exercised options in connection with the acquisition of the remaining equity interest of FCA US previously not owned.

Adjusted EBIT

	For the nine months ended September 30,		Increase/(decrease)
(€ million, except percentages)	2015	2014	2015 vs. 2014
Adjusted EBIT	3,628	2,591	1,037	40.0	%

Adjusted EBIT increased by €1.0 billion due to the combined effect of (i) sustained strong performance in NAFTA primarily as a result of higher volumes, positive net pricing, favorable foreign currency translation impacts from the strengthening U.S. Dollar, which was partially offset by increased warranty costs (ii) continued improvement in EMEA, primarily attributable to volume increase, favorable product mix and positive pricing (iii) increased volumes in Ferrari and Components (iv) a decrease in LATAM, reflecting lower volumes due to the poor market conditions in Brazil and Argentina and Pernambuco start-up costs, partially offset by favorable net pricing and product mix (v) a decrease in APAC mainly due to reduced volumes as a result of strong competition in China, the disruption in shipments from the explosions at the Port of Tianjin, increased incentives and foreign exchange effects and (vi) a decrease in Maserati primarily as a result of lower volumes and unfavorable mix.

Net financial expenses

	For the nine months ended September 30,		Increase/(decrease)
(€ million, except percentages)	2015	2014	2015 vs. 2014
Net financial expenses	1,853	1,510	343	22.7	%

Net financial expenses for the nine months ended September 30, 2015 were €1,853 million, reflecting an increase of €343 million, or 22.7 percent (17.0 percent at constant currency), from €1,510 million for thenine months ended September 30, 2014. The increase was primarily due to higher debt levels in LATAM mainly related to the development of our Pernambuco plant and unfavorable foreign currency translation effects, and was partially offset by interest cost savings resulting from the reduction in overall gross debt.

Tax expense

	For the nine months ended September 30,		Increase/(decrease)
(€ million, except percentages)	2015	2014	2015 vs. 2014
Tax expense	521	435	86	19.8	%

Tax expense for the nine months ended September 30, 2015 was €521 million, compared to €435 million for the nine months ended September 30, 2014.

The €86 millionincrease was primarily related to lower one-off discrete benefits during the nine months ended September 30, 2015 as compared to 2014, partially offset by an increase in non-taxable incentives. Profit before tax for the nine months ended September 30, 2014 included certain discrete items including the non-taxable gain related to the fair value remeasurement of the previously exercised options in connection with the acquisition of the remaining equity interest of FCA US previously not owned. There were no significant one-off discrete items during the nine months ended September 30, 2015.

14

Results by Segment

The following is a discussion of Net revenues, Adjusted EBIT and shipments for each segment for the three and nine months ended September 30, 2015 and 2014.

(€ million, except shipments which are in thousands of units)	Net revenues				Adjusted EBIT				Shipments
	For the three months ended September 30, 2015
	2015		2014		2015		2014		2015	2014
NAFTA	17,704		13,134		1,186		554		685	613
LATAM	1,515		2,162		28		62		140	202
APAC	842		1,578		(83	)	169		30	55
EMEA	4,611		4,080		20		(59	)	250	218
Ferrari	723		662		140		104		2	2
Maserati	516		652		12		90		7	9
Components	2,348		2,086		98		59		—	—
Other activities	213		200		(48	)	(8	)	—	—
Unallocated items & adjustments(1)	(1,004	)	(1,001	)	(50	)	(3	)	—	—
Total	27,468		23,553		1,303		968		1,114	1,099

__________________________

⁽¹⁾ Primarily includes intercompany transactions which are eliminated in consolidation.

(€ million, except shipments which are in thousands of units)	Net revenues				Adjusted EBIT				Shipments
	For the nine months ended September 30, 2015
	2015		2014		2015		2014		2015	2014
NAFTA	51,067		37,124		3,114		1,529		1,995	1,825
LATAM	4,917		6,315		(116	)	169		413	610
APAC	3,877		4,597		29		414		123	163
EMEA	14,765		13,031		102		(131	)	843	763
Ferrari	2,110		2,011		364		289		6	6
Maserati	1,649		2,039		91		210		22	26
Components	7,332		6,240		262		172		—	—
Other activities	621		602		(109	)	(49	)	—	—
Unallocated items & adjustments(1)	(3,246	)	(2,953	)	(109	)	(12	)	—	—
Total	83,092		69,006		3,628		2,591		3,402	3,393

__________________________

⁽¹⁾ Primarily includes intercompany transactions which are eliminated in consolidation.

15

Car Mass-Market

NAFTA

	For the three months ended September 30,
(€ million, except shipments which are in thousands of units)	2015	% of segment net revenues		2014	% of segment net revenues		Increase/(decrease)
Net revenues	17,704	100.0	%	13,134	100.0	%	4,570	34.8	%
Adjusted EBIT	1,186	6.7	%	554	4.2	%	632	114.1	%
Shipments	685	—		613	—		72	11.7	%

	For the nine months ended September 30,
(€ million, except shipments which are in thousands of units)	2015	% of segment net revenues		2014	% of segment net revenues		Increase/(decrease)
Net revenues	51,067	100.0	%	37,124	100.0	%	13,943	37.6	%
Adjusted EBIT	3,114	6.1	%	1,529	4.1	%	1,585	103.7	%
Shipments	1,995	—		1,825	—		170	9.3	%

Three months ended September 30, 2015

Net revenues

NAFTA Net revenues for the three months ended September 30, 2015 were €17.7 billion, reflecting an increase of €4.6 billion, or 34.8 percent (15.1 percent at constant currency) from €13.1 billion for the three months ended September 30, 2014. The total increase was primarily attributable to (i) €1.6 billion related to the increase in volume and (ii) favorable foreign currency translation effects of €2.6 billion.

The 11.7 percent increase in vehicle shipments from 613 thousand units for the three months ended September 30, 2014 to 685 thousand units for the three months ended September 30, 2015 was largely driven by the growth in the Jeep brand, including the all-new 2015 Jeep Renegade.

Adjusted EBIT

NAFTA Adjusted EBIT for the three months ended September 30, 2015 was €1,186 million, reflecting an increase of €632 million, or 114.1 percent, from €554 million for the three months ended September 30, 2014.

The increase in NAFTA Adjusted EBIT was attributable to (i) an increase in volume and improved mix of €479 million, driven by the increase in shipments described above (ii) an increase of €137 million due to positive pricing actions and dealer discount reduction (iii) an increase of €190 million related to favorable foreign currency translation, and was partially offset by (iv) an increase of €214 million in industrial costs including the increased warranty costs that reflect the current regulatory and recall environment as described below, and an increase in product costs for vehicle content enhancements on new models, net of purchasing efficiencies.

Given recent increases in both the cost and frequency of recall campaigns and increased regulatory activity across the industry in the U.S and Canada, an additional actuarial analysis that gives greater weight to the more recent calendar year trends in recall campaign experience has been added to the adequacy assessment to estimate future recall costs.  This reassessment resulted in a change in estimate for the campaign accrual of €761 million for the U.S. and Canada for estimated future recall campaign costs for vehicles sold in prior periods, which has been excluded from Adjusted EBIT for the three months ended September 30, 2015. In addition, and in connection with this reassessment, we recorded a €65 million charge related to the increase in the accrual rate per vehicle for vehicles sold during the three months ended September 30, 2015, which is included in Adjusted EBIT for the three months ended September 30, 2015.

16

Nine months ended September 30, 2015

Net revenues

NAFTA Net revenues for the nine months ended September 30, 2015 were €51.1 billion, reflecting an increase of €13.9 billion, or 37.6 percent (14.8 percent at constant currency) from €37.1 billion for the nine months ended September 30, 2014. The total increase was primarily attributable to (i) €4.1 billion related to increased volume (ii) favorable net pricing of €0.7 billion, including dealer discount reductions and pricing for enhanced content and (iii) favorable foreign currency translation effects of €8.5 billion.

The 9.3 percent increase in vehicle shipments from 1,825 thousand units for the nine months ended September 30, 2014 to 1,995 thousand units for the nine months ended September 30, 2015, was driven by increased demand of the Group's vehicles in the retail market, notably the Jeep brand, including the all-new 2015 Jeep Renegade and Jeep Cherokee.

Adjusted EBIT

NAFTA Adjusted EBIT for the nine months ended September 30, 2015 was €3.1 billion, reflecting an increase of €1.6 billion, or 103.7 percent, from €1.5 billion for the nine months ended September 30, 2014.

The increase in NAFTA Adjusted EBIT was attributable to (i) an impact of €806 million related to the increase in volumes as described above and favorable mix (ii) an increase of €695 million due to favorable net pricing which includes dealer discount reduction and (iii) an increase of €560 million mostly related to positive foreign currency translation effects, partially offset by (iv) an increase in industrial costs of €459 million, which included the €65 million charge related to the change in estimate for future recall campaign costs for vehicles sold during the three months ended September 30, 2015, as well as higher product costs for content enhancements on new models, which were partially offset by purchasing efficiencies.

For the nine months ended September 30, 2015, Adjusted EBIT excluded the €761 million adjustment related to the change in estimate of future recall campaign costs for vehicles sold in prior periods and also excluded the €81 million charge related to the Consent Order agreed with NHTSA.

For the nine months ended September 30, 2014, Adjusted EBIT excluded the €495 million charge connected with the execution of the MOU with the UAW entered into by FCA US in January 2014.

17

LATAM

	For the three months ended September 30,
(€ million, except shipments which are in thousands of units)	2015	% of segment net revenues		2014	% of segment net revenues		Increase/(decrease)
Net revenues	1,515	100.0	%	2,162	100.0	%	(647	)	(29.9	)%
Adjusted EBIT	28	1.8	%	62	2.9	%	(34	)	(54.8	)%
Shipments	140	—		202	—		(62	)	(30.7	)%

	For the nine months ended September 30,
(€ million, except shipments which are in thousands of units)	2015		% of segment net revenues		2014	% of segment net revenues		Increase/(decrease)
Net revenues	4,917		100.0	%	6,315	100.0	%	(1,398	)	(22.1	)%
Adjusted EBIT	(116	)	(2.4	)%	169	2.7	%	(285	)	n.m.(1)
Shipments	413		—		610	—		(197	)	(32.3	)%

__________________________

⁽¹⁾ Number is not meaningful.

Three months ended September 30, 2015

Net revenues

LATAM Net revenues for the three months ended September 30, 2015 were €1.5 billion, reflecting a decrease of €0.6 billion, or 29.9 percent (14.6 percent lower at constant currency), from €2.2 billion for the three months ended September 30, 2014. The total decrease was primarily attributable to (i) lower shipments reflecting continued macroeconomic weakness, particularly in Brazil and continued import restrictions in Argentina, which was partially offset by (ii) favorable product mix primarily attributable to the all-new 2015 Jeep Renegade and (iii) favorable net pricing.

The Group remained the leader in Brazil for the three months ended September 30, 2015 with a 500 bps lead over the nearest competitor and with a market share of 19.8 percent.

Adjusted EBIT

LATAM Adjusted EBIT for the three months ended September 30, 2015 was €28 million, a decrease of €34 million, from €62 million for the three months ended September 30, 2014.

The decrease in LATAM Adjusted EBIT was primarily attributable to (i) a net decrease of €56 million mainly reflecting the decrease in shipments resulting from poor trading conditions in Brazil and Argentina, partially offset by favorable product mix driven by the all-new 2015 Jeep Renegade (ii) an increase in industrial costs of €67 million due to higher input cost inflation and start-up costs for the Pernambuco plant and (iii) favorable net pricing of €109 million, which partially offset the impacts of cost inflation.

18

Nine months ended September 30, 2015

Net revenues

LATAM Net revenues for the nine months ended September 30, 2015 were €4.9 billion, reflecting a decrease of €1.4 billion, or 22.1 percent (17.1 percent at constant currency), from €6.3 billion for the nine months ended September 30, 2014. The total decrease was primarily attributable to (i) a decrease of €1.6 billion driven by lower shipments, which were partially offset by (ii) favorable product mix of €0.3 billion largely attributable to the all-new 2015 Jeep Renegade and (iii) favorable net pricing of €0.3 billion.

The 32.3 percent decrease in vehicle shipments from 610 thousand units for the nine months ended September 30, 2014, to 413 thousand units for nine months ended September 30, 2015 reflected continued macroeconomic weakness in the region's principal markets, where Brazil continued the negative market trend started in 2012 and Argentina continued to be impacted by import restrictions and overall economic uncertainties.

Adjusted EBIT

LATAM Adjusted EBIT for the nine months ended September 30, 2015 was negative €116 million, reflecting a decrease of €285 million from €169 million for the nine months ended September 30, 2014.

The decrease in LATAM Adjusted EBIT was attributable to (i) a €265 million impact of a decrease in shipments in Brazil and Argentina, (ii) an increase in industrial costs of €298 million mainly attributable to start-up costs for the Pernambuco plant and higher input cost inflation (iii) an increase of €99 million in Selling, general and administrative costs primarily for the commercial launch of the all-new 2015 Jeep Renegade, partially offset by (iv) favorable net pricing of €325 million and (v) a €47 million impact for favorable product mix primarily from the all-new 2015 Jeep Renegade.

Adjusted EBIT for the nine months ended September 30, 2015 excluded the €80 million total charge resulting from the adoption of the SIMADI exchange rate at June 30, 2015 and the write-down of inventory in Venezuela to the lower of cost or net realizable value due to the continuing deterioration of the economic conditions in Venezuela as described below.

Adjusted EBIT for the nine months ended September 30, 2014 excluded the €98 million charge for the remeasurement of our net monetary assets in Venezuela resulting from our initial adoption of the SICAD I rate.

Venezuela

On February 10, 2015, the Venezuelan government introduced a new market-based exchange system, referred to as the SIMADI exchange rate, with certain specified limitations on its usage by individuals and entities in the private sector. On February 12, 2015, the SIMADI exchange rate began trading at 170.0 VEF to U.S. Dollar for individuals and entities in the private sector. In February 2015, the Venezuelan government announced that the SICAD I and SICAD II exchange systems would be merged into a single exchange system (the “SICAD”) with a rate starting at 12.0 VEF to U.S. Dollar. As of March 31, 2015, the SICAD exchange rate was expected to be used to complete the majority of FCA Venezuela LLC's (“FCA Venezuela”) transactions to exchange VEF for U.S. Dollar and as such, it was deemed the appropriate rate to use to convert our monetary assets and liabilities to U.S. Dollar for the first quarter 2015. Refer to our FCA Consolidated Financial Statements at December 31, 2014 for additional details regarding the SICAD I and SICAD II exchange rates.

19

Due to the continuing deterioration of the economic conditions in Venezuela, as of June 30, 2015 we came to believe it is unlikely that the majority of our future transactions to exchange VEF for U.S. Dollar will be at the SICAD rate. Rather, we have determined that the SIMADI exchange rate is the most appropriate rate to use as based on the volume of VEF to U.S. Dollar exchange transactions in Venezuela since the formation of SIMADI exchange rate as compared to the SICAD rate. As a result of adopting the SIMADI exchange rate at June 30, 2015, we recorded a remeasurement charge of €53 million on our VEF denominated net monetary assets, including cash and cash equivalents in Venezuela, at an exchange rate of 197.3 VEF to U.S. Dollar (by comparison, the SICAD rate is 12.8 VEF per U.S. Dollar at September 30, 2015). We also recorded a charge of €27 million to reduce inventory held in Venezuela to the lower of cost or net realizable value, as due to pricing controls, we are unable to increase the VEF sales price in Venezuela to compensate for the devaluation. As of September 30, 2015, the SIMADI exchange rate of 199 VEF per U.S. Dollar did not result in the recording of material charges during the three months ended September 30, 2015. The total charge of €80 million was recorded within Cost of Sales during the nine months ended September 30, 2015.

In accordance with our use of the SICAD I rate, we recorded a charge of €98 million within Cost of Sales for the nine months ended September 30, 2014 related to the remeasurement of our VEF denominated net monetary assets.

As of September 30, 2015, we continue to control and therefore consolidate our Venezuelan operations.  We will continue to assess conditions in Venezuela, and if in the future we conclude that we no longer maintain control over our operations in Venezuela, we may incur a pre-tax charge of approximately €173 million using the current exchange rate of 199 VEF to USD. Refer to Note 25 in the accompanying Interim Condensed Consolidated Financial Statements included in this Interim Report for additional information.

APAC

	For the three months ended September 30,
(€ million, except shipments which are in thousands of units)	2015		% of segment net revenues		2014	% of segment net revenues		Increase/(decrease)
Net revenues	842		100.0	%	1,578	100.0	%	(736	)	(46.6	)%
Adjusted EBIT	(83	)	(9.9	)%	169	10.7	%	(252	)	n.m.(1)
Shipments	30		—		55	—		(25	)	(45.5	)%

__________________________

⁽¹⁾ Number is not meaningful.

	For the nine months ended September 30,
(€ million, except shipments which are in thousands of units)	2015	% of segment net revenues		2014	% of segment net revenues		Increase/(decrease)
Net revenues	3,877	100.0	%	4,597	100.0	%	(720	)	(15.7	)%
Adjusted EBIT	29	0.7	%	414	9.0	%	(385	)	(93.0	)%
Shipments	123	—		163	—		(40	)	(24.5	)%

Three months ended September 30, 2015

Net revenues

APAC Net revenues for the three months ended September 30, 2015 were €0.8 billion as compared with €1.6 billion for the three months ended September 30, 2014 primarily as a result of lower shipments. The 45.5 percent decrease in shipments from 55 thousand units for the three months ended September 30, 2014 to 30 thousand units for the three months ended September 30, 2015, was due to decreased volumes as a result of strong competition from local producers in China, the disruption in shipments from the explosions at the Port of Tianjin and reduced shipments in Australia due to pricing actions.

20

Adjusted EBIT

APAC Adjusted EBIT for the three months ended September 30, 2015 was negative €83 million, reflecting a decrease of €252 million from €169 million for the three months ended September 30, 2014.

The decrease in APAC Adjusted EBIT was primarily attributable to (i) lower volumes as described above (ii) unfavorable net pricing primarily due to increased incentives in China, partially offset by (iii) a reduction in Selling, general and administrative costs primarily due to lower marketing spending.

APAC Adjusted EBIT during the three months ended September 30, 2015, excluded the €142 million charge for the write-down of inventory and incremental incentives for vehicles affected by the explosions at the Port of Tianjin.

Nine months ended September 30, 2015

Net revenues

APAC Net revenues for the nine months ended September 30, 2015 were €3.9 billion, reflecting a decrease of €0.7 billion or 15.7 percent from the nine months ended September 30, 2014 (26.4 percent lower at constant currency).

The 24.5 percent decrease in shipments from 163 thousand units for the nine months ended September 30, 2014 to 123 thousand units for the nine months ended September 30, 2015, was primarily due to challenging market conditions and competitive market actions from local producers in China as well as the disruption in shipments from the explosions at the Port of Tianjin.

Adjusted EBIT

APAC Adjusted EBIT for the nine months ended September 30, 2015 was €29 million, reflecting a decrease of €385 million, or 93.0 percent from €414 million for the nine months ended September 30, 2014.

The decrease in APAC Adjusted EBIT was primarily attributable to (i) the impact of lower volumes resulting from strong local competition in China and the blockage of shipments from the Port of Tianjin as a result of the explosions (ii) unfavorable net pricing primarily due to foreign currency effects for vehicle sales in Australia as well as increased incentives in China, partially offset by (iii) lower Selling, general and administrative costs mainly as a result of reduced marketing costs.

EMEA

	For the three months ended September 30,
(€ million, except shipments which are in thousands of units)	2015	% of segment net revenues		2014		% of segment net revenues		Increase/(decrease)
Net revenues	4,611	100.0	%	4,080		100.0	%	531	13.0	%
Adjusted EBIT	20	0.4	%	(59	)	(1.4	)	79	n.m.(1)
Shipments	250	—		218		—		32	14.7	%

__________________________

⁽¹⁾ Number is not meaningful.

21

	For the nine months ended September 30,
(€ million, except shipments which are in thousands of units)	2015	% of segment net revenues		2014		% of segment net revenues		Increase/(decrease)
Net revenues	14,765	100.0	%	13,031		100.0	%	1,734	13.3	%
Adjusted EBIT	102	0.7	%	(131	)	(1.0	)%	233	n.m.(1)
Shipments	843	—		763		—		80	10.5	%

__________________________

⁽¹⁾ Number is not meaningful.

Three months ended September 30, 2015

Net revenues

EMEA Net revenues for the three months ended September 30, 2015 were €4.6 billion, reflecting an increase of €0.5 billion, or 13.0 percent, from €4.1 billion for the three months ended September 30, 2014.

The €0.5 billionincrease in EMEA Net revenues was mainly attributable to higher volumes and favorable product mix driven by the all-new 2015 Jeep Renegade and all-new Fiat 500X.

Adjusted EBIT

EMEA Adjusted EBIT for the three months ended September 30, 2015 was €20 million, an increase of €79 million from negative €59 million Adjusted EBIT for the three months ended September 30, 2014.

The increase in EMEA Adjusted EBIT was primarily attributable to (i) an impact of €86 million related to increased shipments and favorable product mix reflecting the continued success of the Fiat 500 family and Jeep brand, (ii) positive net pricing of €35 million primarily driven by positive foreign exchange transaction impacts, partially offset by (ii) a €30 million increase in Selling, general and administrative costs driven by the Fiat 500X and all-new 2015 Jeep Renegade advertising and (iii) a €29 million net increase in industrial costs, primarily reflecting higher costs for imported vehicles from the U.S. due to a stronger U.S. Dollar, which was partially offset by cost efficiencies.

Nine months ended September 30, 2015

Net revenues

EMEA Net revenues for the nine months ended September 30, 2015 were €14.8 billion, reflecting an increase of 13.3 percent, from €13.0 billionfor the nine months ended September 30, 2014.

The increase in EMEA Net revenues was primarily attributable to increased volumes, positive net pricing, favorable product mix and favorable foreign exchange effects.

The 10.5 percent increase in vehicle shipments, from 763 thousand units for the nine months ended September 30, 2014, to 843 thousand units for the nine months ended September 30, 2015, was largely driven by the Fiat 500 family and the Jeep brand, specifically the all-new Fiat 500X and the all-new 2015 Jeep Renegade.

Adjusted EBIT

EMEA Adjusted EBIT for the nine months ended September 30, 2015 was €102 million, an improvement of €233 million from negative €131 million for the nine months ended September 30, 2014.

The increase in EMEA Adjusted EBIT was primarily attributable to (i) increased volumes and favorable mix impact of €324 million reflecting the continued success of the Fiat 500 family and Jeep brand (ii) a €105 million impact from positive net pricing, partially offset by (iii) a €90 million increase in sales and marketing spending to support the Jeep brand growth and the launch of the all-new Fiat 500X and (iv) a €130 million increase in industrial costs, reflecting higher costs for U.S. imported vehicles due to a stronger U.S. Dollar, partially offset by purchasing savings and manufacturing efficiencies.

22

Ferrari

	For the three months ended September 30,
(€ million, except shipments which are in units)	2015	% of segment net revenues		2014	% of segment net revenues		Increase/(decrease)
Net revenues	723	100.0	%	662	100.0	%	61	9.2	%
Adjusted EBIT	140	19.4	%	104	15.7	%	36	34.6	%
Shipments	1,949	—		1,612	—		337	20.9	%

	For the nine months ended September 30,
(€ million, except shipments which are in units)	2015	% of segment net revenues		2014	% of segment net revenues		Increase/(decrease)
Net revenues	2,110	100.0	%	2,011	100.0	%	99	4.9	%
Adjusted EBIT	364	17.3	%	289	14.4	%	75	26.0	%
Shipments	5,643	—		5,280	—		363	6.9	%

Three months ended September 30, 2015

Net Revenues

For the three months ended September 30, 2015, Ferrari Net revenues increased €61 million, or 9.2 percent, from the three months ended September 30, 2014, to €723 million, mainly driven by sales of the new 488 GTB and 458 Speciale A models as well as the California T.

Adjusted EBIT

Ferrari Adjusted EBIT for the three months ended September 30, 2015 was €140 million, reflecting an increase of €36 million, or 34.6 percent from €104 million for the three months ended September 30, 2014. The increase in Adjusted EBIT was primarily attributable to increased volumes as described above, improved product mix and favorable foreign currency transaction effects.

Nine months ended September 30, 2015

Net Revenues

For the nine months ended September 30, 2015, Ferrari Net revenues of €2.1 billionincreased €0.1 billion, or 4.9 percent from €2.0 billion for the nine months ended September 30, 2014. The increase was primarily attributable to an increase in volumes, improved product mix and favorable foreign currency exchange effects, partially offset by lower sales of engines to Maserati.

Adjusted EBIT

Ferrari Adjusted EBIT for the nine months ended September 30, 2015, was €364 million, reflecting an increase of €75 million, or 26.0 percent from €289 million for the nine months ended September 30, 2014. The increase primarily reflected higher volumes, favorable product mix and favorable foreign currency transaction effects.

Adjusted EBIT for the nine months ended September 30, 2014 excluded a total of €15 million related to compensation costs from the resignation of the former Ferrari chairman.

23

Maserati

	For the three months ended September 30,
(€ million, except shipments which are in units)	2015	% of segment net revenues		2014	% of segment net revenues		Increase/(decrease)
Net revenues	516	100.0	%	652	100.0	%	(136	)	(20.9	)%
Adjusted EBIT	12	2.3	%	90	13.8	%	(78	)	(86.7	)%
Shipments	6,916	—		8,896	—		(1,980	)	(22.3	)%

	For the nine months ended September 30,
(€ million, except shipments which are in units)	2015	% of segment net revenues		2014	% of segment net revenues		Increase/(decrease)
Net revenues	1,649	100.0	%	2,039	100.0	%	(390	)	(19.1	)%
Adjusted EBIT	91	5.5	%	210	10.3	%	(119	)	(56.7	)%
Shipments	22,503	—		26,428	—		(3,925	)	(14.9	)%

Three months ended September 30, 2015

Net revenues

For the three months ended September 30, 2015, Maserati Net revenues were €516 million, reflecting a decrease of €136 million, or 20.9 percent (28.4 percent at constant currency), from €652 million for the three months ended September 30, 2014. The decrease was primarily driven by the decrease in vehicle shipments from 8,896 units for the three months ended September 30, 2014 to 6,916 units for the three months ended September 30, 2015 that resulted from weaker segment demand in the U.S. and China and unfavorable product mix.

Adjusted EBIT

Maserati Adjusted EBIT for the three months ended September 30, 2015 was €12 million, reflecting a decrease of €78 million, or 86.7 percent, from €90 million for the three months ended September 30, 2014. The decrease was due to lower volumes as described above, unfavorable product mix and an increase in industrial costs which included start-up costs for the Levante, the new SUV model that will be launched in 2016.

Nine months ended September 30, 2015

Net revenues

For the nine months ended September 30, 2015, Maserati Net revenues were €1.6 billion, reflecting a decrease of €0.4 billion, or 19.1 percent (28.8 percent at constant currency), from €2.0 billion for the nine months ended September 30, 2014. The decrease was primarily driven by a decrease in vehicle shipments from 26,428 units for the nine months ended September 30, 2014 to 22,503 units for the nine months ended September 30, 2015 that resulted from weaker segment demand in the U.S. and China and an unfavorable product mix.

Adjusted EBIT

Maserati Adjusted EBIT for the nine months ended September 30, 2015 was €91 million, reflecting a decrease of €119 million, or 56.7 percent, from €210 million for the nine months ended September 30, 2014. The decrease was due to lower volumes as described above and unfavorable product mix, partially offset by a reduction in Selling, general and administrative costs.

24

Components

	For the three months ended September 30,
(€ million, except percentages)	2015		% of segment net revenues		2014		% of segment net revenues		Increase/(decrease)
Magneti Marelli
Net revenues	1,744				1,604				140		8.7	%
Adjusted EBIT	84				48				36		75.0	%
Comau
Net revenues	480				335				145		43.3	%
Adjusted EBIT	16				9				7		77.8	%
Teksid
Net revenues	141				152				(11	)	(7.2	)%
Adjusted EBIT	(2	)			2				(4	)	n.m.(1)
Intrasegment eliminations
Net revenues	(17	)			(5	)			(12	)	n.m.(1)
Components
Net revenues	2,348		100.0	%	2,086		100.0	%	262		12.6	%
Adjusted EBIT	98		4.2	%	59		2.8	%	39		66.1	%

	For the nine months ended September 30,
(€ million, except percentages)	2015		% of segment net revenues		2014		% of segment net revenues		Increase/(decrease)
Magneti Marelli
Net revenues	5,419				4,770				649		13.6	%
Adjusted EBIT	216				146				70		47.9	%
Comau
Net revenues	1,480				1,032				448		43.4	%
Adjusted EBIT	47				29				18		62.1	%
Teksid
Net revenues	493				480				13		2.7	%
Adjusted EBIT	(1	)			(3	)			2		n.m.(1)
Intrasegment eliminations
Net revenues	(60	)			(42	)			(18	)	(42.9	)%
Components
Net revenues	7,332		100.0	%	6,240		100.0	%	1,092		17.5	%
Adjusted EBIT	262		3.6	%	172		2.8	%	90		52.3	%

_________________________

⁽¹⁾ Number is not meaningful.

Net revenues

Components Net revenues for the three months ended September 30, 2015 were €2.3 billion, reflecting an increase of €262 million, or 12.6 percent (the same at constant currency), from the three months ended September 30, 2014.

Components Net revenues for the nine months ended September 30, 2015 were €7.3 billion, reflecting an increase of €1.1 billion, or 17.5 percent (14.3 percent at constant currency), from the nine months ended September 30, 2014.

25

Magneti Marelli

The increase in Magneti Marelli Net revenues for the three and nine months ended September 30, 2015 compared to the three and nine months ended September 30, 2014 primarily reflected increased volumes and positive performance for the lighting, electronic systems and powertrain businesses.

Comau

The increase in Comau Net revenues for the three and nine months ended September 30, 2015 compared to the three and nine months ended September 30, 2014 was mainly attributable to the body assembly (previously known as body welding), powertrain and robotics businesses.

Teksid

The decrease in Teksid Net revenues for the three months ended September 30, 2015 compared to the three months ended September 30, 2014 was primarily attributable to a 13 percent decrease in cast iron business volumes, partially offset by an 18 percent increase in aluminum business volumes.

For the nine months ended September 30, 2015, there was an overall increase in aluminum business volumes, which was partially offset by the overall decrease in cast iron business volumes compared to the nine months ended September 30, 2014.

Adjusted EBIT

Components Adjusted EBIT for the three months ended September 30, 2015 was €98 million, reflecting an increase of €39 million or 66.1 percent, from €59 million for the three months ended September 30, 2014.

Components Adjusted EBIT for the nine months ended September 30, 2015 was €262 million, reflecting an increase of €90 million or 52.3 percent, from €172 million for the nine months ended September 30, 2014.

Magneti Marelli

The increase in Magneti Marelli Adjusted EBIT for the three and nine months ended September 30, 2015 compared to the three and nine months ended September 30, 2014, primarily related to higher volumes, cost containment actions and efficiencies.

Comau

The increase in Comau Adjusted EBIT for the three and nine months ended September 30, 2015 compared to the three and nine months ended September 30, 2014, was primarily attributable to increased volumes.

Teksid

The decrease of €4 million in Teksid Adjusted EBIT for the three months ended September 30, 2015 compared to the three months ended September 30, 2014 was primarily attributable to lower volumes from the cast iron business, partially offset by an overall increase in aluminum business volumes.

The increase of €2 million in Teksid Adjusted EBIT for the nine months ended September 30, 2015 compared to the nine months ended September 30, 2014 was primarily attributable favorable foreign exchange rate effects.

26

Liquidity and Capital Resources

Total Available Liquidity

In June 2015, FCA entered into a new €5.0 billion syndicated revolving credit facility (“RCF”) for general corporate purposes and the working capital needs of the Group. The RCF replaces and expands the €2.1 billion three-year revolving credit facility entered into by FCA on June 21, 2013 and will replace the U.S.$1.3 billion five-year revolving credit facility of FCA US that will expire on May 24, 2016. The RCF is available in two tranches. As of September 30, 2015, the first tranche of €2.5 billion was available and was undrawn. The first tranche matures in July 2018 and has two extension options (1-year and 11-months, respectively) which are exercisable on the first and second anniversary of signing. The second tranche, which consists of an additional €2.5 billion, matures in June 2020 and will be available upon termination of the U.S.$1.3 billion FCA US revolving credit facility and the elimination of the restrictions under FCA US's financing documentation on the provision of guarantees and payment of dividends by FCA US for the benefit of the rest of the Group (refer to Note 27 of the 2014 Consolidated Financial Statements included within our 2014 Annual Report for more detail on the restrictions). The covenants of the RCF include financial covenants (Net Debt/Adjusted EBITDA and Adjusted EBITDA/Net Interest ratios related to industrial activities) and negative pledge, pari passu, cross default and change of control clauses. The failure to comply with these covenants and, in certain cases if not suitably remedied, can lead to the requirement of early repayment of any outstanding amounts.

On June 29, 2015, FCA, the European Investment Bank (the “EIB”) and SACE finalized a €600 million loan earmarked to support the Group's automotive research, development and production plans for 2015 to 2017 which includes studies for efficient vehicle technologies for vehicle safety and new vehicle architectures. The three-year loan due July 2018 provided by the EIB, which is also 50 percent guaranteed by SACE, relates to FCA's production and research and development sites in both northern and southern Italy. The loan was fully drawn at September 30, 2015.

At September 30, 2015, our total available liquidity was €24.9 billion (€26.2 billion at December 31, 2014), including €20.2 billion of cash and cash equivalents, €0.2 billion of current securities and €4.5 billion available under undrawn committed credit lines related to (i) the first tranche of the new RCF of €2.5 billion, (ii) the U.S.$1.3 billion (approximately €1.2 billion) revolving credit facility of FCA US expiring May 2016 and (iii) approximately €0.8 billion of other revolving facilities available to FCA treasury companies, excluding FCA US. The terms of FCA US's revolving credit facility require FCA US to maintain a minimum liquidity of U.S.$3.0 billion (€2.7 billion), which includes any undrawn amounts under FCA US's revolving credit facility. Total available liquidity is subject to intra-month and seasonal fluctuations resulting from business and collection-payment cycles as well as to changes in foreign exchange conversion rates.

The following table summarizes our total available liquidity:

(€ million)	At September 30, 2015	At December 31, 2014
Cash, cash equivalents and current securities (1)	20,408	23,050
Undrawn committed credit lines (2)	4,469	3,171
Total available liquidity (3)	24,877	26,221

_____________________________

(1) At September 30, 2015, current securities comprise €231 million (€210 million as of December 31, 2014) of short term or marketable securities which represent temporary investments but do not satisfy all the requirements to be classified as cash equivalents as they may not be able to be readily converted into cash, or they are subject to significant risk of change in value (even if they are short-term in nature or marketable).

(2) Excludes the undrawn €0.4 billion medium/long-term dedicated credit lines available to fund scheduled investments as of September 30, 2015 (€0.9 billion was undrawn at December 31, 2014), the undisbursed €0.4 billion on the Mexico Bank Loan as of September 30, 2015 (€0 at December 31, 2014), which can be drawn subject to meeting the preconditions for additional disbursements.

(3) The majority of our liquidity is available to our treasury operations in Europe, U.S. (subject to the restrictions on FCA US distributions as discussed in the Consolidated Financial Statements at December 31, 2014), and Brazil; however, liquidity is also available to certain subsidiaries which operate in other areas. Cash held in such countries may be subject to restrictions on transfer depending on the foreign jurisdictions in which these subsidiaries operate. Based on our review of such transfer restrictions in the countries in which we operate and maintain material cash balances, we do not believe such transfer restrictions have an adverse impact on the Group's ability to meet its liquidity requirements at the dates represented above.

27

Our liquidity is principally denominated in U.S. Dollar and in Euro. Out of the total €20.4 billion of cash, cash equivalents and current securities available at September 30, 2015 (€23.0 billion at December 31, 2014), €13.0 billion, or 64 percent were denominated in U.S. Dollar (€10.6 billion, or 46 percent, at December 31, 2014) and €3.4 billion, or 17 percent, were denominated in Euro (€6.2 billion, or 27 percent, at December 31, 2014). Liquidity available in Brazil and denominated in Brazilian Reals accounted for approximately €0.6 billion or 3 percent at September 30, 2015 (€1.6 billion, or 7 percent, at December 31, 2014), with the remainder being distributed in various countries and denominated in the relevant local currencies.

The decrease in total available liquidity from December 31, 2014 to September 30, 2015 includes the payment of a €1.5 billion bond and a CHF 425 million (€390 million) bond at each of their respective maturity dates as well as a total of €244 million of payments on the Canadian Health Care Trust Notes, which included the prepayment on the remaining scheduled payments on the Canada HCT Tranche A Note. The decrease in total available liquidity was partially offset by the draw-down of the €600 million new EIB loan. Refer to the Cash Flows section below for additional information regarding the change in cash and cash equivalents.

Cash Flows

The following table summarizes the cash flows of operating, investing and financing activities for the nine months ended September 30, 2015 and 2014. For a complete discussion of our cash flows, see our Interim Condensed Consolidated Statements of Cash Flows included elsewhere in this Interim Report.

	For the nine months ended September 30,
(€ million)	2015		2014
Cash and cash equivalents at beginning of the period	22,840		19,455
Cash flows from operating activities	5,473		4,250
Cash flows used in investing activities	(6,152	)	(5,119	)
Cash flows used in financing activities	(2,447	)	(1,077	)
Translation exchange differences	463		886
Total change in cash and cash equivalents	(2,663	)	(1,060	)
Cash and cash equivalents at end of the period	20,177		18,395

Operating Activities — Nine months ended September 30, 2015

For the nine months ended September 30, 2015, cash flows from operating activities were €5,473 million and were primarily the result of:

(i) Net profit of €126 million adjusted to add back €4,245 million for depreciation and amortization expense,

(ii) a net increase of €2,068 million in provisions, mainly related to an increase in the warranty provision for NAFTA primarily resulting from the change in estimate for future recall campaign costs and higher accrued sales incentives, primarily to support increased sales volumes in NAFTA, and

(iii) €112 million of dividends received from jointly-controlled entities.

These positive cash flows were partially offset by:

(iv) the negative impact of the change in working capital of €1,425 million, which was primarily driven by (a) €1,657 million increase in inventories, which reflects the trend in production and sales volumes for the period as well as the effects of the disruption in shipments from the explosions at the Port of Tianjin (b) €811 million increase in trade receivables primarily as a result of the limited plant activity at December 31, 2014 due to the holiday shutdown and (c) €438 million increase in net other current assets and liabilities, which were partially offset by (d) €1,481 million increase of trade payables, mainly related to increased production in NAFTA and EMEA as a result of increased consumer demand for our vehicles in addition to the holiday shutdown and related limited plant activity at December 31, 2014.

28

Operating Activities — Nine months ended September 30, 2014

For the nine months ended September 30, 2014, cash flows from operating activities were €4,250 million and were primarily the result of:

(i) Net profit of €212 million adjusted to add back (a) €3,599 million for depreciation and amortization expense and (b) other non-cash items of €197 million, which primarily included (i) €372 million related to the non-cash portion of the expense recognized in connection with the execution of the UAW MOU entered into by FCA US in January 2014 (ii) €98 million remeasurement charge recognized as a result of the Group's change in the exchange rate used to remeasure its Venezuelan subsidiary's net monetary assets in U.S. Dollars, which were partially offset by (iii) the non-taxable gain of €223 million on the remeasurement to fair value of the previously exercised options on approximately 10 percent of FCA US's membership interest in connection with the acquisition of the remaining interest in FCA US previously not owned,

(ii) a net increase of €689 million in provisions, mainly related to (i) net adjustments to warranties, including those related to recall campaigns in the NAFTA segment and (ii) an increase in accrued sales incentives due to increased retail shipments, primarily in the NAFTA segment and

(iii) €60 million of dividends received from jointly-controlled entities.

These positive items were partially offset by the total negative impact of the change in working capital of €726 million primarily driven by (i) €1,010 million increase in inventory due to increased production and sales levels for all geographic regions and the luxury brands, (ii) €350 million increase in trade receivables, principally in NAFTA following the increased shipments at the end of September 2014 as compared to the end of December 2013 as a result of the annual plant shutdowns, and (iii) €90 million in net other current assets and liabilities which was partially offset by (d) €724 million increase in trade payables, mainly related to increased production in NAFTA.

Investing Activities — Nine months ended September 30, 2015

For the nine months ended September 30, 2015, cash flows used in investing activities were €6,152 million, primarily as a result of:

(i) €6,469 million of capital expenditures, including €1,905 million of capitalized development costs, to support investments in existing and future products. Capital expenditure primarily relates to the car mass-market operations in NAFTA and EMEA, investment in Alfa Romeo and the completion of the Pernambuco plant, partially offset by

(ii) a €392 million net decrease in receivables from financing activities primarily related to the decreased lending portfolio of the financial services activities of the Group.

Investing Activities — Nine months ended September 30, 2014

For the nine months ended September 30, 2014, cash flows used in investing activities were €5,119 million, primarily as a result of:

(i) €5,350 million of capital expenditures, including €1,521 million of capitalized development costs that supported investments in existing and future products. Capital expenditures primarily related to the car mass-market operations in NAFTA and EMEA and the construction of the Pernambuco plant, partially offset by

(ii) €128 million of a net decrease in receivables from financing activities, of which €163 million related to the decreased lending portfolio of the financial services activities of the Group.

29

Financing Activities —Nine months ended September 30, 2015

For the nine months ended September 30, 2015, cash flows used in financing activities were €2,447 million and were primarily as a result of:

(i) the prepayment of the FCA US 8% secured senior notes due June 15, 2019 for a total principal amount of €2,518 million and the repayment on maturity of two notes issued under the Global Medium Term Note Program (“GMTN Program”), one for a principal amount of €1,500 million and another for a principal amount of CHF 425 million (€390 million) and

(ii) the payment of medium-term borrowings for a total of €3,508 million, which included the repayment on maturity of the EIB loan of €250 million, the repayment of our Mexican development banks credit facilities of €414 million as part of FCA Mexico's refinancing transaction completed in March 2015, total payments of €244 million on the Canadian Health Care Trust Notes, and other financing transactions, primarily in Brazil and FCA treasury companies.

These items were partially offset by:

(iii) proceeds from FCA's issuance of U.S.$3.0 billion (€2.8 billion) total principal amount of unsecured senior notes due in 2020 and 2023 and

(iv) proceeds from new medium-term borrowings for a total of €2,653 million which included the initial disbursement received of €0.4 billion under a new non-revolving loan agreement of €0.8 billion (U.S.$0.9 billion) as part of FCA Mexico's refinancing transaction completed in March 2015, proceeds from the new EIB €600 million loan, and other financing transactions, primarily in Brazil.

Financing Activities —Nine months ended September 30, 2014

For the nine months ended September 30, 2014, cash flows used in financing activities were €1,077 million and were primarily the result of:

(i) cash payments to the UAW Retiree Medical Benefits Trust, (the “VEBA Trust”) for the acquisition of non-controlling interest of €2,691 million relating to the acquisition of the remaining 41.5 percent ownership interest in FCA US previously not owned,

(ii) payment of medium-term borrowings for a total of €5,241 million, mainly related to the prepayment of all amounts of the outstanding financial liability with the VEBA Trust, (the “VEBA Trust Note”) amounting to approximately U.S.$5 billion (€3.6 billion), including accrued and unpaid interest and

(iii) the repayment on maturity of notes issued under the GMTN Program, for a total principal amount of €2,150 million.

These items were partially offset by:

(iv) proceeds from bond issuances for a total amount of €4,588 million which included (a) approximately €2.6 billion of notes issued as part of the GMTN Program and (b) €2.0 billion of secured senior notes issued by FCA US as part of the refinancing transaction to facilitate the prepayment of the VEBA Trust Note,

(v) proceeds from new medium-term borrowings for a total of €3,950 million, which included the incremental term loan entered into by FCA US of U.S.$250 million (€181 million) under its existing tranche B term loan facility, the additional U.S.$1.75 billion (€1.3 billion) tranche B term loan credit facility entered into by FCA US as part of the refinancing transaction to facilitate the prepayment of the VEBA Trust Note, and new medium-term borrowings in Brazil and

(vii) a positive net contribution of €509 million from the net change in other financial payables and other financial assets/liabilities.

30

The translation exchange differences for the nine months ended September 30, 2015 were €463 million and mainly reflect the increase in the Euro-translated value of cash and cash equivalent balances denominated in U.S. Dollar, due to the strengthening of the U.S. Dollar.

Net Industrial Debt

The following table details our Net Debt at September 30, 2015 and December 31, 2014 and provides a reconciliation of this non-GAAP measure to Debt, which is the most directly comparable measure included in our Consolidated Statement of Financial Position.

Due to different sources of cash flows used for the repayment of the financial debt between industrial activities and financial services (by cash from operations for industrial activities and by collection of financial receivables for financial services) and the different business structure and leverage implications, we provide a separate analysis of Net Debt between industrial activities and financial services.

The division between industrial activities and financial services represents a sub-consolidation based on the core business activities (industrial or financial services) of each Group company. The sub-consolidation for industrial activities also includes companies that perform centralized treasury activities, such as raising funding in the market and financing Group companies, but do not however, provide financing to third parties. Financial services includes companies that provide retail and dealer finance, leasing and rental services in support of the car mass-market brands in certain geographical segments and for the luxury brands.

All FCA US activities are included under industrial activities. Since FCA US's cash management activities are managed separately from the rest of the Group, we also provide the analysis of Net Industrial Debt split between FCA excluding FCA US and FCA US.

	September 30, 2015										December 31, 2014
	Industrial Activities						Financial Services		Consolidated		Industrial Activities						Financial Services		Consolidated
(€ million)	Total		FCA ex FCA US		FCA US						Total		FCA ex FCA US		FCA US
Third Parties Debt (Principal)	(29,596	)	(21,330	)	(8,266	)	(1,200	)	(30,796	)	(31,381	)	(21,011	)	(10,370	)	(1,980	)	(33,361	)
Capital Market(1)	(16,248	)	(13,499	)	(2,749	)	(282	)	(16,530	)	(17,378	)	(12,473	)	(4,905	)	(351	)	(17,729	)
Bank Debt	(11,646	)	(6,878	)	(4,768	)	(788	)	(12,434	)	(11,904	)	(7,484	)	(4,420	)	(1,216	)	(13,120	)
Other Debt(2)	(1,702	)	(953	)	(749	)	(130	)	(1,832	)	(2,099	)	(1,054	)	(1,045	)	(413	)	(2,512	)
Accrued interest and other adjustments(3)	(378	)	(250	)	(128	)	(1	)	(379	)	(362	)	(200	)	(162	)	(1	)	(363	)
Debt with third Parties	(29,974	)	(21,580	)	(8,394	)	(1,201	)	(31,175	)	(31,743	)	(21,211	)	(10,532	)	(1,981	)	(33,724	)
Intercompany financial receivables/payables (net)(4)	1,441		1,492		(51	)	(1,441	)	—		1,453		1,515		(62	)	(1,453	)	—
Current financial receivables from jointly-controlled financial services companies (5)	32		32		—		—		32		58		58		—		—		58
Debt, net of intercompany and current financial receivables from jointly-controlled financial services companies	(28,501	)	(20,056	)	(8,445	)	(2,642	)	(31,143	)	(30,232	)	(19,638	)	(10,594	)	(3,434	)	(33,666	)
Other financial assets/(liabilities) (net)(6)	449		205		244		24		473