COMPOSITION AND PRINCIPAL CHANGES

As the Company has applied carry over accounting with regard to the acquisition of the Basildon operations, the values contained in the Income Statement and the Statement of the Financial Position include those of the business of Basildon plant starting from the date of its acquisition (May 1, 2014). Therefore, previous year fi gures may not always be comparable to those of the current year.

The Basildon operations have a GBP functional currency. All assets and liabilities of the Basildon operations were therefore translated into euros, which is the functional currency of CNH Industrial N.V. Translation differences resulting from the application of this method are recorded in equity.