A:  On April 13, 2023, the Annual General Meeting of Shareholders of Stellantis approved a €4.2 billion ordinary dividend payment (“Distribution”).

The Distribution entails a payment to the holders of Stellantis common shares of €1.34 per outstanding common share.

A:  The calendar for the Distribution will be as follows: (i) ex-date April 24, 2023; (ii) record date April 25, 2023; and (iii) payment date May 4, 2023.

A:  The Distribution will be paid from the profits shown in the 2022 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.

Refer to Q6 below for the procedure if the shares are held in a Depository Trust Company (“DTC”) participant account.  All others, refer to Q7 below for additional information.  

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 19, 2023, 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 19, 2023, 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 31, 2028.

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.

Whether shareholders can obtain a tax credit in their country of residency is based upon their tax position and the country of residency’s local tax legislation.

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

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 Euronext Milan and/or the Euronext Paris on the record date (April 25, 2023) 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 25, 2023) will receive the Distribution in U.S. dollars at the official EUR/USD exchange rate reported by the European Central Bank as of April 12, 2023 (1.0922).

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 Euronext Milan.

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 25, 2023) are entitled to receive the Distribution.

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