2022 Ordinary Distribution (“Distribution”)

Type of reserves distributed
Profits shown in the 2021 Annual Accounts of Stellantis N.V.
Amount per common share (EUR)
€1.04
Amount per common share (USD)
$1.125904
Official EUR/USD exchange rate fixed by the European Central Bank (ECB) on April 13, 2022
1.0826
NYSE, MTA, Euronext Paris ex-date
Tuesday, April 19, 2022
NYSE, MTA, Euronext Paris record date
Wednesday, April 20, 2022
Payment date
Friday, April 29, 2022

Relevant Deadlines for DTC Participants Only:

Deadline to request Relief At Source
Available for U.S. Article 35 Pensions and IRAs under 401(a), 401(k), 457(b), 403(b), 408 and 408(a)
Friday, April 22, 2022 by 8 pm EDT
Deadline to submit required documentation for Relief At Source
Available for U.S. Article 35 Pensions and IRAs under 401(a), 401(k), 457(b), 403(b), 408 and 408(a)
Monday, April 25, 2022 by 5 pm EDT
Deadline to submit required documentation to GlobeTax for refund (if applicable)
Friday, May 13, 2022 by 8 pm EDT
Deadline (statute of limitations) to submit required documentation to GlobeTax for refund via long form process (if applicable)
Friday, October 29, 2027 by 8 pm EDT

Where to Obtain Further Information:

For additional information, please contact your depositary bank, stockbroker or financial intermediary.
For DTC shareholders, please refer to the attached DTCC Important Notice, email GlobeTax at dutchesp@globetax.com, or call +1-212-747-9100

Applicable Withholding Tax

This chart only includes withholding tax applicable to the Stellantis N.V. (“Stellantis”) 2022 Ordinary Distribution. Shareholders are urged to consult their tax advisors as to the overall tax consequences of acquiring, holding and disposing of Stellantis shares and of the receipt of any distributions from Stellantis, including any applicable withholding tax.

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* Qualifying U.S. pension funds that do not timely provide relevant documentation to GlobeTax can apply for a refund procedure

Stellantis 2022 Ordinary Distribution Q&A

Holders of Stellantis common shares are urged to consult with their tax advisors as to the overall tax consequences of acquiring, holding and disposing of Stellantis shares and of the receipt of any distributions from Stellantis, including any applicable withholding tax.

A:  On April 13, 2022, the Annual General Meeting of Shareholders of Stellantis approved a €3.3 billion dividend payment (“Distribution”).

The Distribution entails a payment to the holders of Stellantis common shares of €1.04 per outstanding common share.

A:  The calendar for the Distribution will be as follows: (i) ex-date on April 19, 2022; (ii) record date on April 20, 2022; and (iii) payment date on April 29, 2022.

A:  The Distribution will be paid from the profits shown in the 2021 Annual Accounts of Stellantis.

A:  Stellantis is a Dutch tax-resident company; consequently, dividend distributions made by Stellantis are generally subject to 15% Dutch dividend withholding tax (“Dutch WHT”), unless an exemption is provided by Dutch domestic legislation or a more favorable rate applies based on a tax treaty between the Netherlands and the country of residence of the shareholders.

To benefit from the exemption or reduction via a refund procedure, certain information is required to be submitted to the Dutch tax authorities either by the depositary bank, stockbroker or other financial intermediary or directly by the shareholder.

See Q7 below for the procedure if the shares are held in a Depository Trust Company (“DTC”) participant account.

Shareholders should consult with their tax advisors to determine if a tax credit is available in their country of residence for the 15% Dutch WHT.

A:  The Extraordinary Distribution in April 2021 was not subject to 15% Dutch WHT because it was paid out of the capital repayment reserve, which was created by a reduction of the nominal value of the Stellantis common shares. Such a formal repayment of capital is not subject to Dutch WHT.

Since the Distribution is made out of profits, it does not qualify as a repayment of capital, and therefore, is in principle, subject to the 15% Dutch WHT.

A:  A list of countries with a more favorable Dutch WHT rate provided by a tax treaty between the Netherlands and the shareholder’s country of residence, with the potential refund percentage, can be found at this link.

Shareholders are urged to consult their tax advisor and depositary bank, stockbroker or other financial intermediary for further details.

A:  Stockbrokers and other financial intermediaries with shares deposited at DTC will be required to provide GlobeTax, by no later than 8 pm EDT on May 13, 2022, each eligible shareholder’s name, address, country of residence, tax identification number and share position in order to receive a refund from the Dutch tax authorities (refer to the attached DTCC Important Notice for the instructions to submit the requested information to GlobeTax). The applicable shareholders will receive their respective refund through their stockbroker or other financial intermediary.

If the proper information is not submitted by the deadline of 8 pm EDT on May 13, 2022, then a longer process will apply and it may take longer to process the refund.  In any case, the proper information to request the refund should be submitted to GlobeTax by no later than 8 pm EDT on October 29, 2027.

Individual DTC shareholders should not submit any information directly to GlobeTax.

Please contact your depositary bank, stockbroker or other financial intermediary for further details.

A:  To the extent that shareholders are a tax resident in a country where they can benefit from a reduction or exemption of the 15% Dutch WHT, a refund could also be requested directly from the Dutch tax authorities, unless such refund has previously been requested through GlobeTax. Further details in relation to this process are available on the website of the Dutch tax authorities (link).

Shareholders are urged to consult their tax advisor and depositary bank, stockbroker or other financial intermediary for further details.

A:  In addition to the 15% Dutch WHT, French tax resident individual shareholders who hold their shares through Euroclear France S.A. or a French-based financial intermediary and who do not qualify for a reduction or exemption under French law are also generally subject to a 30% French withholding (composed of 12.8% personal income tax, “Prélèvement forfaitaire non libératoire” or “PFNL”, plus 17.2% social security levies) on the amount of the dividend gross of the 15% Dutch WHT.

French tax resident shareholders who hold their shares through DTC or Monte Titoli must self-assess and pay any applicable French personal income tax and social security levies unless a French-based financial intermediary is responsible to withhold the French tax.

A:  In addition to the 15% Dutch WHT, Italian tax resident individual shareholders who hold their shares through Monte Titoli or an Italian-based financial intermediary and who do not qualify for a reduction or exemption under Italian law are generally subject to the 26% Italian withholding tax on the dividend amount net of the 15% Dutch WHT.

Italian tax resident shareholders who hold their shares through the DTC or Euroclear France S.A. must self-assess and pay any applicable Italian tax unless an Italian-based financial intermediary is responsible to withhold the Italian tax.

A:  French tax resident individual shareholders who hold their shares through Euroclear France S.A. or a French-based financial intermediary will receive the Distribution (i) net of 15% Dutch WHT and (ii) net of 30% French withholding, calculated on the dividend gross of the 15% Dutch WHT. This means that the net payment will be 55% of the Distribution.

All other Euroclear France shareholders will receive 85% of the Distribution.

Italian tax resident individual shareholders who hold their shares through Monte Titoli or an Italian-based financial intermediary will receive the Distribution (i) net of 15% Dutch WHT and (ii) net of 26% Italian withholding tax, calculated on the dividend amount net of the 15% Dutch WHT (unless an Italian withholding tax reduction or exemption applies). This means that the net payment will be 62.9% of the Distribution.

All other Monte Titoli shareholders will receive 85% of the Distribution.

All other shareholders will receive 85% of the Distribution.

A:  Holders of Stellantis common shares that are traded on the Borsa Italiana and/or the Euronext Paris on the record date (April 20, 2022) will receive the Distribution in Euro.

Holders of Stellantis common shares that are traded on the New York Stock Exchange on the record date (April 20, 2022) will receive the Distribution in U.S. dollars at the official EUR/USD exchange rate reported by the European Central Bank as of April 13, 2022 (1.0826).

A:  Shares held by DTC are generally traded on the New York Stock Exchange.

Shares held by Euroclear France S.A. are generally traded on Euronext Paris.

Shares held by Monte Titoli are generally traded on Borsa Italiana.

Please contact your depositary bank, stockbroker or other financial intermediary to obtain this information with respect to your Stellantis common shares.

A:  Holders of Stellantis common shares as of the close of business on the record date (April 20, 2022) are entitled to receive the Distribution.

A:  You should contact your tax advisor and depositary bank, stockbroker or other financial intermediary.