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Slide 1: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 Forward Looking Statements In this presentation and in related comments by our management, our use of the words “expect,” “anticipate,” In this presentation and in related comments by our management, our use of the words “expect,” “anticipate,” “estimate,” “goal,” “target,” “believe,” “improve,” “intend,” “potential,” “continue,” “designed,” “opportunity,” “estimate,” “goal,” “target,” “believe,” “improve,” “intend,” “potential,” “continue,” “designed,” “opportunity,” “risk,” “may,” “would,” “could,” “should” or similar expressions is intended to identify forward-looking “risk,” “may,” “would,” “could,” “should” or similar expressions is intended to identify forward-looking statements that represent our current judgment about possible future events. We believe these judgments are statements that represent our current judgment about possible future events. We believe these judgments are reasonable, but these statements are not guarantees of any events or financial results, and our actual results reasonable, but these statements are not guarantees of any events or financial results, and our actual results may differ materially due to a variety of important factors. Such factors include, among others: our ability to may differ materially due to a variety of important factors. Such factors include, among others: our ability to realize production efficiencies, to achieve reductions in costs and to implement capital expenditures at levels realize production efficiencies, to achieve reductions in costs and to implement capital expenditures at levels and times planned by management; market acceptance of our products; shortages of and price increases for and times planned by management; market acceptance of our products; shortages of and price increases for fuel; significant changes in the competitive environment and the effect of competition in our markets, including fuel; significant changes in the competitive environment and the effect of competition in our markets, including on our pricing policies; our ability to maintain adequate liquidity and financing sources and an appropriate level on our pricing policies; our ability to maintain adequate liquidity and financing sources and an appropriate level of debt; labor strikes or work stoppages at our facilities or at our key suppliers; financial difficulties of our key of debt; labor strikes or work stoppages at our facilities or at our key suppliers; financial difficulties of our key suppliers; adoption of new laws or changes in existing laws that may affect the production, licensing, suppliers; adoption of new laws or changes in existing laws that may affect the production, licensing, distribution, cost or sale of our products; the final results of investigations and inquiries by the SEC; court distribution, cost or sale of our products; the final results of investigations and inquiries by the SEC; court approval of the settlement agreement with the UAW and UAW retirees related to the 2007 National approval of the settlement agreement with the UAW and UAW retirees related to the 2007 National Agreement; satisfaction of the conditions to the effectiveness of the post-retirement healthcare benefit plan Agreement; satisfaction of the conditions to the effectiveness of the post-retirement healthcare benefit plan contemplated by the 2007 National Agreement; changes in economic conditions, commodity prices, currency contemplated by the 2007 National Agreement; changes in economic conditions, commodity prices, currency exchange rates or political stability in the markets in which we operate; possible downgrades for GMAC or exchange rates or political stability in the markets in which we operate; possible downgrades for GMAC or ResCap by rating agencies; GMAC’s inability to maintain adequate financing sources for its capital needs; and ResCap by rating agencies; GMAC’s inability to maintain adequate financing sources for its capital needs; and recent developments in the residential mortgage market, especially in the nonprime sector. recent developments in the residential mortgage market, especially in the nonprime sector. The most recent reports on SEC Forms 10-K, 10-Q and 8-K filed by us or GMAC provide information about these The most recent reports on SEC Forms 10-K, 10-Q and 8-K filed by us or GMAC provide information about these and other factors, which may be revised or supplemented in future reports to the SEC on those forms. and other factors, which may be revised or supplemented in future reports to the SEC on those forms. © 2008 General Motors Corporation. All Rights Reserved 1
Slide 2: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 © 2008 General Motors Corporation. All Rights Reserved 2
Slide 3: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 Agenda Key Priorities and GM Operating Strategies GM Product Strategies Other Key Issues Global Technology Leadership © 2008 General Motors Corporation. All Rights Reserved 3
Slide 4: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 Financial Accomplishments: 2005-2007 Grew aggressively and profitably in emerging markets $9B structural cost taken out Tackled tough risk factors UAW labor agreement largely eliminates health care inflation risk Continued reduction of GMNA capacity Improved adjusted earnings and cash flow Stage set for significant mid-term earnings improvement © 2008 General Motors Corporation. All Rights Reserved 4
Slide 5: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 2005-2007 Adjusted Financial Results $ Billions $ Billions GMNA GMNA GME GME GMLAAM GMLAAM GMAP GMAP Total Auto Earnings Before Tax Total Auto Earnings Before Tax GMAC Earnings Before Tax GMAC Earnings Before Tax Corp. Other Earnings Before Tax Corp. Other Earnings Before Tax Total Earnings Before Tax Total Earnings Before Tax Taxes Taxes Total Net Income from Cont. Ops. Total Net Income from Cont. Ops. Discontinued Ops. – Allison Transmission Discontinued Ops. – Allison Transmission Total GM Net Income Total GM Net Income Worldwide Production (000’s) Worldwide Production (000’s) Global Market Share Global Market Share 2005 (7.4) (7.4) (0.5) (0.5) 0.2 0.2 0.4 0.4 (7.3) (7.3) 4.2 4.2 (1.4) (1.4) (4.5) (4.5) 1.0 1.0 (3.5) (3.5) 0.3 0.3 (3.2) (3.2) 9.1 9.1 14.1% 14.1% 2006 (1.6) (1.6) 0.4 0.4 0.6 0.6 0.4 0.4 (0.3) (0.3) 2.2 2.2 (1.2) (1.2) 0.6 0.6 1.1 1.1 1.7 1.7 0.4 0.4 2.2 2.2 9.2 9.2 13.5% 13.5% 2007 (1.5) (1.5) 0.1 0.1 1.3 1.3 0.7 0.7 0.6 0.6 (1.1) (1.1) (0.8) (0.8) (1.4) (1.4) 1.1 1.1 (0.3) (0.3) 0.3 0.3 (0.0) (0.0) 9.3 9.3 13.3% 13.3% Refer to Supplemental Charts in our earnings presentation on GM’s Investor website for reconciliation to GAAP figures © 2008 General Motors Corporation. All Rights Reserved 5
Slide 6: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 2008 Key Priorities Continue to execute great products Build strong brands and distribution channels Execute additional cost reduction initiatives Emerging markets growth Advanced propulsion leadership Running the business globally © 2008 General Motors Corporation. All Rights Reserved 6
Slide 7: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 GM Operating Strategies Developed Markets Revenue & Contribution Margin Cost Management Perfect launches Leading quality Strong brands Manage “bad” costs Capacity/supplier footprint changes Emerging Markets Product execution/quality Lower cost portfolio Strong brands & distribution Cost efficient capacity expansion Lower structural cost as % of revenue Leverage global architectures and global sourcing Lead in advanced technology development © 2008 General Motors Corporation. All Rights Reserved 7
Slide 8: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 North America Turnaround GMNA financial results deteriorated in Q1 2008 due to significant weakness in the U.S. Industry and impact of the American Axle strike Strong acceptance of new product launches Key turnaround strategies remain unchanged – Execute great products – Build strong brands – Strengthen distribution – Additional cost reduction Leading design & quality is key Special focus on key car segments Accelerate 4 channel strategy Implement labor contracts © 2008 General Motors Corporation. All Rights Reserved 8
Slide 9: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 U.S. Market Challenges Credit market environment continues to evolve, and banks continue to tighten lending standards High gasoline prices driving mix shift from trucks to cars Overall industry clearly under pressure – GM revised outlook for 2008 U.S. total industry to mid-to-high 15 million units – Q1 industry consistent with GM outlook and plan, but see more 2008 downside risk than upside opportunity © 2008 General Motors Corporation. All Rights Reserved 9
Slide 10: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 Strategies in Other Markets Europe – New assembly plant in Russia to support growth – Fully leverage GMDAT to support growth of Chevrolet – Continued focus on multi-brand strategy and quality of share – Further progress on shifting manufacturing footprint to low-cost © 2008 General Motors Corporation. All Rights Reserved 10
Slide 11: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 Strategies in Other Markets Latin America/Africa/Middle East – Grow! – New powertrain plant in Brazil to increase capacity of existing assembly plants – Continue to fill portfolio gaps and optimize pricing – Maximize capacity to cost efficiently support growth © 2008 General Motors Corporation. All Rights Reserved 11
Slide 12: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 Strategies in Other Markets Asia Pacific – Rapidly grow in India and pursue growth in ASEAN markets; new powertrain plant there – New powertrain plant in China – Continue to grow in China via multi-brand strategy – Improve material cost via increased localization – Expand “lower cost” product portfolio – Work with partners to increase capacity © 2008 General Motors Corporation. All Rights Reserved 12
Slide 13: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 Agenda Key Priorities and GM Operating Strategies GM Product Strategies Other Key Issues Global Technology Leadership © 2008 General Motors Corporation. All Rights Reserved 13
Slide 14: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 Agenda Key Priorities and GM Operating Strategies GM Product Strategies Other Key Issues Global Technology Leadership © 2008 General Motors Corporation. All Rights Reserved 14
Slide 15: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 GMAC – Q2 2008 Initiatives Refinancing existing GMAC and ResCap bank facilities and pursuing strategic alternatives to ensure liquidity – GMAC negotiating 2-year $3.5B senior secured credit facility to ResCap, conditioned on successful completion of ResCap’s current debt tender and exchange offer – GM and Cerberus are in discussions to acquire pro rata shared Cerberus are in discussions to acquire pro rata shared $750M first loss participation in proposed facility Restructuring of North American Auto Finance operations Restructuring and divesting assets at ResCap Restructuring ownership of GMAC Insurance Formalizing and growing GMAC Bank © 2008 General Motors Corporation. All Rights Reserved 15
Slide 16: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 Delphi Delphi unable to emerge under its Plan of Reorganization, as Plan Investors terminated their investment agreement on April 4 – GM-Delphi Settlement Agreements and agreements with Delphi’s labor – GM-Delphi Settlement Agreements and agreements with Delphi’s labor unions remain in place but are not generally effective unions remain in place but are not generally effective GM will agree to advance up to $650M to Delphi during 2008 in anticipation of effectiveness of the GM-Delphi Settlement Agreements – Within amount GM would have paid had Delphi emerged – Within amount GM would have paid had Delphi emerged from bankruptcy from bankruptcy – Would be concurrent with Delphi DIP extension – Would be concurrent with Delphi DIP extension – GM would receive an administrative claim for advances – GM would receive an administrative claim for advances GM continues to work with Delphi and its stakeholders to facilitate Delphi’s efforts to emerge from bankruptcy © 2008 General Motors Corporation. All Rights Reserved 16
Slide 17: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 American Axle Strike Through end of April, GMNA incurred production losses related to American Axle strike of approximately 230K units – Q1 financial impact of approximately $0.8B EBT To date, strike has had minimal impact on GM’s ability to meet customer demands GM will continue to proactively manage schedules across plants to maintain production to the extent possible GM recently agreed to fund up to $200M to help facilitate a settlement of the work stoppage © 2008 General Motors Corporation. All Rights Reserved 17
Slide 18: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 Agenda Key Priorities and GM Operating Strategies GM Product Strategies Other Key Issues Global Technology Leadership © 2008 General Motors Corporation. All Rights Reserved 18
Slide 19: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 Global Technology Leadership Advanced Propulsion © 2008 General Motors Corporation. All Rights Reserved 19
Slide 20: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 Why an Extended-Range Electric Vehicle? Typical One-Way Miles from Home to Work Based on OmniStats Data posted by the U.S. Bureau of Transportation © 2008 General Motors Corporation. All Rights Reserved 20
Slide 21: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 Project Driveway Largest fuel cell vehicle market test 100+ vehicles in the hands of customers © 2008 General Motors Corporation. All Rights Reserved 21
Slide 22: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 © 2008 General Motors Corporation. All Rights Reserved 22
Slide 23: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 Summary Stay focused on our key priorities, operating strategies, and business results Mitigate risks associated with GMAC/ ResCap, Delphi and American Axle Drive global technology leadership © 2008 General Motors Corporation. All Rights Reserved 23
Slide 24: 2008 GM Banker & Insurance Conference F. Henderson May 13, 2008 © 2008 General Motors Corporation. All Rights Reserved 24