Barclays Global

Automotive Conference

NOVEMBER 2020
INFORMATION RELEVANT TO THIS PRESENTATION
Cautionary Note on Forward-Looking Statements:
This presentation and related comments by management may include “forward-looking statements” within the meaning of the U.S. federal securities laws. Forward-looking statements are
any statements other than statements of historical fact. Forward-looking statements represent our current judgement about possible future events and are often identified by words such as
“anticipate,” “appears,” “approximately,” “believe,” “continue,” “could,” “designed,” “effect,” “estimate,” “evaluate,” “expect,” “forecast,” “goal,” “initiative,” “intend,” “may,” “objective,”
“outlook,” “plan,” “potential,” “priorities,” “project,” “pursue,” “seek,” “should,” “target,” “when,” “will,” “would,” or the negative of any of those words or similar expressions. In making
these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as
other factors we consider appropriate under the circumstances. We believe these judgements are reasonable, but these statements are not guarantees of any future events or financial
results, and our actual results may differ materially due to a variety of factors, many of which are described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019,
our subsequently filed Quarterly Reports on Form 10-Q, and our other filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-
looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking
statements, whether as a result of new information, future events or other factors that affect the subject of these statements, except where we are expressly required to do so by law.

Non-GAAP Financial Measures:

See our Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and our related earnings materials filed and furnished with the U.S. Securities and Exchange Commission
for a description of certain non-GAAP measures used in this presentation, including EBIT-adjusted, EPS-diluted-adjusted, ETR-adjusted, ROIC-adjusted and adjusted automotive free cash
flow, along with a description of various uses for such measures. As a result, the use of these non-GAAP measures has limitations and should not be considered superior to, in isolation from,
or as a substitute for, related U.S. GAAP measures.

Basis of Presentation:
The financial and operational information included in this presentation is presented on a continuing operations basis, unless otherwise indicated. In this presentation and related comments
by management, references to “record” or “best” performance (or similar statements) refer to General Motors Company, as established in 2009 on a continuing operations basis.
Vision for Growth
 4

Zero Crashes Zero Emissions Zero Congestion

 ADVANCE
PLATFORMS
Growth Strategy DRIVE EV/AV
MONETIZE
PRODUCT EXISTING &
LEADERSHIP NEW BUSINESS

LAUNCH NEW
TRUCK & SUV SEGMENTS
DOMINANCE REIMAGINE THE & SERVICES
CUSTOMER
EXPERIENCE
Deliver world class
customer interactions
LEVERAGE COMMIT TO
ENTERPRISE CITIZENSHIP
SCALE
Create a leading health
Expand manufacturing capabilities and safety culture
and operational excellence

WORKPLACE
OF CHOICE
Strive for a diverse, equitable
and inclusive team
GM will grow profitably
through a broad EV portfolio
that will drive consumer
adoption
Leverage Enterprise Scale
 EVs are Core to Creating GM Shareholder Value

Agility and Speed > Prioritizing speed to market and creating a dedicated EV organization

EV and ICE Transition > Iconic brands, customer knowledge, leading design, engineering and manufacturing
expertise are competitive advantages in EVs

Commonalities between EV and ICE vehicle components, engineering, safety,

Synergy Efficiencies > connectivity and purchasing

Scale > Mass EV adoption requires scale and reach

LEVERAGE ENTERPRISE
SCALE
 Dedicated EV Team with Startup Agility and GM Strengths

Mark Reuss
GM President
Steve Carlisle
GMNA President
EV Growth Operations

Travis Hester
> Centralized leadership enabling speed to market
Chief EV Officer
> Leveraging synergies to pursue EV leadership

Customer
Experience
Product
Development
> Flexibility to invest to accelerate EV adoption
‣ State-of-the-art Battery Innovation Lab
‣ Focus on talent acquisition
Marketing Product
Planning
> Distinct sales & marketing – no constraints on competing
with ICE products
EV Sales Corporate
& Service Staff

LEVERAGE ENTERPRISE
SCALE
 Integrated Strategy Creates a Competitive Advantage

~$2B per year

in efficiencies > Shared procurement, engineering, manufacturing, advertising and corporate costs

Iconic brands with Top Manufacturer in Automotive Loyalty, per IHS Markit
established distribution
channel
> Established sales and service network

Validation and quality > Over 100 years of vehicle validation, safety, testing and manufacturing excellence

Leading battery and

propulsion strategy > Ultium Platform

LEVERAGE ENTERPRISE
SCALE
 75-80% of Today’s ICE Vehicle Cost is Non-Propulsion and Shared on EVs

Audio and telematics Passenger restraints Body glass Body and structural Interior

Electronics and electrical Steering

Climate control and powertrain

cooling
Power electronics

Ultium Drive Ultium Battery System

Wheels and tires

Axles, driveshafts and

Suspension Braking
components

EV-Specific Engineering and Purchasing EV/ICE Shared Engineering and Purchasing

 Increasing EV Investment by $7B through 2025,
Bringing Total EV/AV Investment to Over $27B

Total Company CapEx Forecast > Anticipate CapEx above previous $7B normalized
run-rate target through at least 2023

> Incremental engineering spend from 2021-2023

Previous $7B > Funded through internally generated cash flow

run-rate target
Benefits of investments:

• Ultium competitive advantage

• Best-in-class manufacturing
• Compelling products to gain market share
2020 2021 2022 2023

LEVERAGE ENTERPRISE
SCALE
 GM’s BEV Portfolio Positioned to Capture Share in Top 10 BEV States
2019 BEV % of Industry
> Increasing share in the Top 10 BEV
states to reach current market share in
the rest of the U.S. provides GM with a 2
280k-unit opportunity
3
9
10
Top 10 BEV States
6
GM Share = 11.8% 5 8
1

Rest of U.S.
7
GM Share = 18.7%

Total U.S.
GM Share = 17.0%

4
% BEV

0.1% 5.3%

1.4% = National Average

Source: IHS Markit Total U.S. New LEVERAGE ENTERPRISE

SCALE
Light Vehicle Registrations, 2019
Open to Additional Partnerships to Expand Scale

NEXT…

LEVERAGE ENTERPRISE
SCALE
 Defining EV Franchise Success

> #1 EV market share in North America

> Margins similar to or higher than ICE

Investing today to establish
a leadership position in EVs > Exceed our previous target of selling 1
million vehicles globally by mid-
decade

LEVERAGE ENTERPRISE
SCALE
Drive Product Leadership
GMC HUMMER EV
> GM’s truck experience informed the creation of a
category-defining, flagship EV

> Offers best of GM technology, including:

‣ Super Cruise Driver Assist Technology
‣ OnStar
‣ Multi-Pro tailgate
‣ Four-wheel, independent air suspension
‣ Design features honed from years of truck
leadership

Pre-production visualization, actual production model may vary.

Initial availability Fall 2021.

DRIVE PRODUCT
LEADERSHIP
GMC HUMMER EV
Innovative new available features: Crabwalk,
Extract Mode, Watts to Freedom

> Modular Ultium Battery Platform supports

multiple configurations at price points
competitive with high-end trucks and SUVs in
market today

> $2.2B Factory ZERO investment and supply chain

reconfiguration to meet production targets

> Customer reservations exceeding expectations

Pre-production visualization, actual production model may vary.

Initial availability Fall 2021.

DRIVE PRODUCT
LEADERSHIP
 Accelerating Our EV Entries

Four entries pulled ahead, Four entries pulled ahead,

including LYRIQ by 9 months to H1 2022 including pickup by 40 months

Four entries pulled ahead, Two entries

including pickup by 11 months and compact crossover by 21 months

DRIVE PRODUCT
LEADERSHIP
 30 New EVs by 2025 globally
2 /3 Available in North America

Select Upcoming North American Launches

LYRIQ HUMMER EV Full-Size Pickup Bolt EV Crossovers Origin

CELESTIQ HUMMER EV Full-Size SUV Bolt EUV
Full-Size SUV Full-Size Pickup Full-Size Pickup
Crossovers Crossovers
Low Roof Entries Low Roof Entries

Several key high-volume entries by 2023

DRIVE PRODUCT
LEADERSHIP
Advance Platforms
 Ultium Battery System
Drive units, power electronics and battery pack

Inside the Ultium cell:

‣ State-of-the-art NCMA chemistry
‣ 70% reduced cobalt compared to Bolt EV
‣ Enables chemistry iterations
‣  Energy density  Cost

Benefits:
‣ Design flexibility
‣ Large-scale, high-energy cells
‣ Battery energy from 50 to 200 kWh
‣ GM-estimated range up to 450 miles on a full charge

Enables a complete lineup of dedicated EVs

ADVANCE
PLATFORMS
 Ultium Cell Flexibility

> Cells can be stacked horizontally or vertically

within the module depending on vehicle profile
> Global footprint can be optimized with the ability to switch
between pouch or prismatic can cells

ADVANCE
PLATFORMS
 Ultium Module Flexibility
Performance Crossover Truck / SUV

> Battery packs are custom > Packs can contain 6, 8, 10, 12
tailored for energy and range modules, or can be double stacked
to hold up to 24 modules

ADVANCE
PLATFORMS
 Ultium Battery System Scalability

1
Battery Cell

24 1 24 batteries go into 1
module
1,000,000
Battery Cells Module

10 modules go
10 1 into 1 pack

Modules Pack

Equals
240,000,000
1 1 pack goes into
one vehicle
Pack

ADVANCE
PLATFORMS
 Battery Cost Reduction

Bolt EV

40%
Ultium
Common Cell Cell Manufacturing

Next-Gen
Ultium
60%

Value Chain Advanced Chemistry

2020 2023 Mid-Decade

ADVANCE
PLATFORMS
GM R&D already has
prototypes of next-
generation chemistries in
development
GM is expanding its in-house battery design, test,
validation and processing capability

‣ GM Battery Lab (2009)

Warren, MI – Battery test and validation site

‣ GM R&D Cell Fabrication Lab (2015)

Warren, MI – Prototype cell design and
manufacturing

‣ GM Battery Learning Lab (2022)

Warren, MI – Production cell design and
process specifications

ADVANCE
PLATFORMS
 Ultium System
> GM is developing deep battery technical
and process expertise. We believe we are
on the battery cell cost frontier now and
we will set the pace in the future.

> We will invest more than $27B in

engineering and CapEx, including
investments to drive battery cost and
performance leadership.

ADVANCE
PLATFORMS
 New Process Reduces EV Product Development Time By ~50%

Start of Production

Current Development 50 Advance Vehicle Dev

Develop Studio Design Computer Aided Eng ENG Design Tool Validate & Build
Process Months

Start of Production

New Development 26 Validate &

Process Months Develop Studio Design/ENG Tool
Build

ADVANCE
PLATFORMS
Vehicle Intelligence Platform
Software foundation for all vehicle platforms
29 models to have VIP by 2023

Leveraging Third party in-vehicle

OnStar experience experiences

Future versions Push OTA updates that help make

5G capable vehicle experience safer and more
capable over time

Cybersecurity enhanced Software as a service supports

via protective features in monetization of future feature upgrades
hardware and software and subscriptions

ADVANCE
PLATFORMS
Monetize Existing
& New Business
 Super Cruise Driver Assistance Feature

22 models to have Super Cruise Driver Assistance Feature by 2023

> Industry leading technology

> Significantly reduced hardware cost
> Potential for flexible purchase options

85% of Super Cruise users would prefer or only

consider a future vehicle with Super Cruise*

* Reflects internal survey data

MONETIZE EXISTING &

NEW BUSINESS
 Jan 2020 Oct 2020
Origin Reveal California DMV Driverless Test Permit

2020 2021

Apr 2020 Nov 2020

130K COVID Relief Deliveries Walmart Delivery Pilot

MONETIZE EXISTING &

NEW BUSINESS
Reimagine Customer Experience
 Introducing Ultifi, the All-New CX Platform for GM Electric Vehicles

GM is reimagining the customer experience in all-out pursuit of EV leadership

Radically Simplifying EV Frictionless EV Transforming EV Expanding Portfolio of Game-Changing Personalized

Purchase Experience Ecosystem Ownership OTA Software & Services Mobile App Cloud Profile

GM Ultifi I.D. #

REIMAGINE
CUSTOMER EXPERIENCE
 Simple, Intuitive, Effortless Customer Charging Solutions
Comprehensive charging and range solutions to build consumer confidence and drive EV adoption

Home Fleet Public

Frictionless home Turnkey charging solutions Greatest accessibility to public charging via
installation service for Fleet customers Level 2 + DCFC

Comprehensive electric Fleet management GM & EVgo investment to

infrastructure products insights & solutions accelerate DCFC expansion

Vehicle & home energy Fleet & facility energy Dedicated partner, advocate and
management services management services influence team

Mobile app unlocks enhanced connected EV

Real-time charge data “One click” e-Commerce Remote charging commands
state 24/7/365

Compelling education as key enabler to accelerate EV

Omni-channel Personalized Creative
adoption

REIMAGINE
CUSTOMER EXPERIENCE
OnStar Insurance Opportunity
Partnership model with established carrier provides a seamless and personalized experience for drivers with recurring revenues

Consumer Relationship OnStar & GM Data

Ecosystem Advantages

REIMAGINE
CUSTOMER EXPERIENCE
EVs For All!
GM will grow profitably
through a broad EV portfolio
that will drive consumer
adoption
> Leverage Enterprise Scale

> Drive Product Leadership

> Advance Platforms

> Monetize Existing & New Business

> Reimagine Customer Experience