Earning Presentation of General Motors: Q1 2009

Preliminary 2009 First Quarter ResultsMay 7, 2009Exchange Offers Information & Forward Looking StatementsExchange Offers Information:In connection with the public exchange offers General Motors has filed documents with the Securities and ExchangeCommission, including a Registration Statement on Form S-4 and a Schedule TO containing a prospectus, consentsolicitation and tender offer statement regarding the transaction. Investors and security holders of GM are urged tocarefully read the dod cumeontscumebecause they containcontaiimportant information about the transaction. Investors andsecurity holders may obtain free copies of these documents and other documents filed with the SEC at the SEC’sweb site at www.sec.gov or by contacting Nick S. Cyprus at (313)556-5000.GM and its directors and executive officers may be deemed participants in the solicitation of proxies with respect tothe transaction. Information regardingg the interests of these directors and executive officers in the transaction will beincluded in the documents described above. Additional information, including information regarding the directors andexecutive officers, is available in our Annual Report on Form 10-K, which was filed with the SEC on March 5, 2009.Forward Looking Statements:In this press release and in related comments by our management, our use of the words “plan,” “expect,” “anticipate,”“ensure,” “tpromo e,” “b lie eve,” “improve,” “i tnden ,” “bena lble,” “co tn itinue,” “ illw ,” “may,” “lwou dld,” “lcou dld,” “ hslou dld,”“project,” “positioned” or similar expressions is intended to identify forward-looking statements that represent ourcurrent judgment about possible future events. We believe these judgments are reasonable, but these statements arenot guarantees of any events or financial results, and our actual results may differ materially due to a variety ofimportant factors. Among other items, such factors might include: our ability to comply with the requirements of ourcreditcred agreement with the U.S. TrT easury; our abilityabito execute thethrestructurrestructu inginplansplthat we have discloseddiscl, ourouability to maintain adequate liquidity and financing sources and an appropriate level of debt; the ability of our foreignsubsidiaries to restructure and receive financial support from their local governments or other sources; our ability torestore consumers’ confidence in our viability and to continue to attract customers, particularly for our new products;our ability to sell, spin-off or phase out some of our brands, to manage the distribution channels for our products, andto complete other planned asset sales; and the overall strength and stability of general economic conditions and ofthe automotive industry, both in the U.S. and globally. Our most recent reports on SEC Forms 10-K, 10-Q and 8-Kprovide information about these and other factors, which may be revised or supplemented in future reports to theSEC on those forms.First Quarter Results Overview•GAAP net loss of $(6.0)B, $(9.78) EPS incl. special items of $(73)M– Change in segment presentation, FIO included as part of Corp Sector in GAAP financial statements•Adjusted net loss of $(5.9)B, $(9.66) EPS, excl. special items•Adjusted automotive earnings before interest and tax (EBIT) of $(3.9)B9)B d, own $4$4 7. B7BQ vs. 1Q1 2008 – Change in automotive managerial presentation from EBT to EBIT, moving interest expense/income to Corp Sector, allowing focus at region and business unit l evellevel to be on controllable operational results •Adjusted GMAC results recognized by GM of $(0.9)B•Adjusted automotive operating cash flow (OCF) of $(10.2)B1First Quarter Adjusted Results1Q09 Fav/(Unfav)($ Millions)1Q081Q09vs 1Q08GMNA$(2 48(2)48$ ( 2(2,764)$(2 16),5GME241(1,238)(1,479)GMLAAM50042(458)GMAP310(21)(331)Auto Elim inations 55449Total Automotive EBIT808(3,927)(4,735)GMAC(302)(885)(583)Corp. Other (Incl. Net Interest)(628)(1,204)(576)Total Earnings Before Taxes(122)(6,016)(5,894)Taxes(259)114373Total GM Net Income/(Loss)(381)(5,902)(5,521)Total EPS (Basic & Diluted)($ 0.67)$ (9.66)($ 8.99)Worldwide Production (000)2,2331,330(903)Global Market Share12.4%11.2%(1.2) p.p.2First Quarter Adjustments to Income$ MillionsEPSAdjusted Net Income / (Loss)(5,902) $ (9.66) First Quarter AdjustmentsGain on Debt Extinguishment906 GMAC Related3 85SAAB Related( 822)Impairments( 291)Delphi Related( 135)ReR structureingstructur(116) Total Adjustments (73)GAAP Net Income / (Loss)(5,975)$ (9.78)Exclusion of special items useful for:•Management t oto measuremeasure operations •Comparisons between reporting periods•Investors to measure and assess company’s core performance3Total Auto Adjusted EBIT – 1Q09 vs. 1Q08$ Billions Q1Key Drivers2008 Earnings Before Int. & Tax$ 0.8(3.8) Industry declineVolume(5.4)(1.0) Mkt. Share / Segment mix(0.6) YoY inventory changeMix(0.5)(0.5) Product / Model Option0.7 Lease reserve adj.Price0.6(0.1) Pricing/incentives1.1 GMNA Manufacturing Net M aterialMaterial0 0.1.0 Exchange0.7 Eng. / Product dev’tStructural Cost3.10.3 Advertising / Other(1.3) ExchangeHedging / Exchange / Other(2.5)(1.0) Commodity/FX hedging(0.2) Other2009 Earnings Before Int. & Tax$ (3.9)4GMNA 1Q09 Adjusted Results 1Q09 Fav/(Unfav)($ Millions)1Q081Q09vs 1Q08Revenue$24,543 $12,319 ($12,224)Earnings Before Int. & Tax/(Loss)(248)(2,764)(2,516)Earnings Before Int. & Tax Margin (1.0)%(22.4)%(21.4) p.p.North America:- Production Volume (000)885 371 (514)- GM Total Deliveries (000)947 501 (446)M- ark te ShShare 21.7%17 9%.(3 8. )8) p.p.United States: - Industry SAAR (Mil.)15.69.7(5.9)M- ark te ShShare22.1%18 4%.(3 7. )7) p.p.- Retail/Fleet Mix - % Fleet26.7%17.1%(9.6) p.p.- Dealer Inventory (000)875 767 108 5GMNA Adjusted EBIT – 1Q09 vs. 1Q08$ BillionsQ1Key Drivers2008 Earnings Before Int. & Tax$ (0.2)(2.2) Industry volumeVolume(3.4)(0.6) YoY inventory change(0.6) Mkt. Share / Segment mixMix(0.6)(0.6) Product / Model Optionp0.7 Lease reserve adj.Price0.4(0.3) Pricing/incentives1.1 Manufacturing Net M aterialMaterial0 1.0.7 Eng. / Product dev’t0.2 ExchangeStructural Cost1.9(0.1) Other(0.8) Commodity/FX hedgingHedging / Exchange / Other(1.0)(0.3) Exchange0.1 Other2009 Earnings Before Int. & Tax$ (2.8)6GME 1Q09 Adjusted Results 1Q09 Fav/(Unfav)($ Millions)1Q081Q09vs 1Q08Revenuee$9 909, $5 318, ($4($ 591),Earnings Before Int. & Tax/(Loss)241 (1,238)(1,479)Earnings Before Int. & Tax Margin 2.4%(23.3)%(25.7) p.p.Total Europe:- Production Volume (000)493 267 (226)- Industry SAAR (Mil.)23.9 18.1 (5.8)- GM Total Deliveries (000)571 405 (166)- Market Share 9.6%8.9%(0.7) p.p.Germany: - Industry SAAR (Mil.)3.6 4.0 0.4 - Market Share9.3%8.6%(0.7) p.p.UK:- Indus trIndus ytr S AARSAAR ( Mil(Mil ).3 1. 1 9. (1 2. )2)- Market Share14.8%14.7%(0.1) p.p.- Memo: EUR/GBP exchange0.757 0 .909Russia:- Industry SAARy (Mil.)3.2 1.9 (1.3)- Market Share12.2%10.6%(1.6) p.p.7GMLAAM 1Q09 Adjusted Results 1Q09 Fav/(Unfav)($ Millions)1Q081Q09vs 1Q08Revenue$4$ ,763 $3$ ,446 ,$(1,317)Earnings Before Int. & Tax/(Loss)500 42 (458)Earnings Before Int. & Tax Margin 10.5%1.2%(9.3) p.p.Total LAAM:Produc- tiontiVolum e (000)243 185 (58(5 )8- Industry SAAR (Mil.)7.7 6.8 (0.9)- GM Total Deliveries (000)324 274 (50)- Market Share 17.6%16.9%(0.7) p.p.BraziBrlazi :l - Industry SAAR (Mil.)2.8 2.9 0.1 - Market Share20.9%18.5%(2.4) p.p.Argentina:- Indus try SAAR ( Mil(Mil ).0 6. 0 5. (0 1).- Market Share15.2%14.9%(0.3) p.p.Rest of South America- Industry SAAR (Mil.) 1.1 0.7 (0.4)Mar- ket Shar e29 7%.34 6%.4 9. p.p.8