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Aim for excellence. Execute better, every day. C A P I T A L M A R K E T S D A Y | 2 1 S E P T E M B E R 2 0 2 6
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2 This presentation contains statements, projections, estimates, forecasts, targets and opinions (collectively, "Forward-Looking Statements") relating to strategies of Ayvens’ Group. These Forward-Looking-Statements are based on a series of assumptions, both general and specific, in particular the application of accounting principles and methods in accordance with IFRS (International Financial Reporting Standards) as adopted in the European Union, as well as the application of existing prudential regulations. These Forward-Looking Statements have also been developed from scenarios based on a number of economic assumptions in the context of a given competitive and regulatory environment. These Forward- Looking Statements are based on current beliefs and expectations and are subject to significant risks and uncertainties. Actual results and financial condition of Ayvens’ Group may differ, possibly materially, from those set forth in the Forward-Looking Statements. Ayvens’ Group may be unable to anticipate all risks, uncertainties and other factors that could affect its business, assess their potential impact, or evaluate the extent to which the occurrence of such risks, whether individually or in combination, could cause actual results to differ materially from those reflected in, or implied by, the information and statements contained in this presentation. Accordingly, while Ayvens’ Group believes that these Forward-Looking Statements are based on reasonable assumptions and expectations, they are inherently subject to numerous risks and uncertainties and other factors, including some that are not currently known to Ayvens’ Group or its management, or are presently considered immaterial. As a result, no assurance can be given that the anticipated events, trends or results referred to in such statements will occur, or that the objectives, plans or expectations described herein will be achieved. Important factors that could cause actual results to differ materially from those expressed or implied in the Forward-Looking Statements include, among others, changes in general economic and market conditions, development affecting the industries in which Ayvens’ Group operates, regulatory and prudential developments, competitive pressures, as well as the successful implementation of Ayvens’ Group’s strategic, operational and financial initiatives. More detailed information on the potential risks that could affect Ayvens’ financial results can be found in the section “Risk Factors” in our Universal Registration Document filed with the French Autorité des Marchés Financiers (which is available on https://www.ayvens.com/en-cp/investors/publications-and-documents/regulated-information/). Investors are advised to consider factors of uncertainty and risk likely to impact the operations of Ayvens’ Group when considering the information contained in such Forward-Looking Statements. Other than as required by applicable law, Ayvens does not undertake any obligation to update or revise any forward-looking information or statements. Unless otherwise specified, the sources for the business rankings and market positions are internal. This presentation includes information pertaining to our markets and our competitive positions therein. Such information is based on market data and our actual revenues in those markets for the relevant periods. We obtained this market information from various third-party sources (publications, surveys and forecasts) and our own internal estimates. We have not independently verified these third-party sources and cannot guarantee their accuracy or completeness, and our internal surveys and estimates have not been verified by independent experts or other independent sources.
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Patrick Sommelet Deputy CEO (DGD) & Chief Financial Officer Philippe de Rovira Chief Executive Officer Berno Kleinherenbrink Deputy CEO (DGA) & Group Regional Director
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G R O W E X C E L T R A N S F O R M
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6 Delivering strong financials Exceeded Shift to value Total shareholder return +98%(2) vs. 1 January 2024 Mergers completed in 21 countries in a regulated environment EUR 440m of annual gross synergies Successful integration of ALD & LeasePlan Earning assets: +6% p.a Underlying C/I ratio: c.52% ROTE: 13%-15% Dividend payout: 50% CET 1 ratio: c.12% Exceeded Enhanced market profile Index inclusion | Proven execution, stronger competitive edge Reducing opex(1) from EUR 1.99bn in 2023 to EUR 1.66bn in H1 2026 annualized Reduction of BEV RVs ahead of competition Increased free float and liquidity daily volumes +120%(3) vs. 2024 YTD Superior margins despite market disruptions 1. For more detail see appendix. 2023 on a pro forma basis as published in the URD 2023 2. Gross return, as at 18 September 2026. Source: Bloomberg 3. As at 15 September 2026
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Optimize growth and returns, navigating a transforming industry • 2029 Funded fleet: >+3% vs. Dec. 26 • 2029 Earning assets: c.+10% vs. Dec. 26 7 | Navigating a transforming industry Leverage Ayvens’ superior scale, people, tech & AI to drive operating expenses and cost to serve reductions across the Group Position the Group for longer term growth opportunities C/I ratio(2) ROTE CET 1 ratio Dividend payout G R O W E X C E L T R A N S F O R M Ayvens outlook Upgrade in financial targets for 2029(1) 7 1. Based on macroeconomic outlook in the Eurozone cf. section 03. Financial trajectory of this presentation 2. Reported cost-to-income ratio excluding net UCS result and hyperinflation
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8 1. Source: ACEA, 2. Source: McKinsey and Ayvens’ analysis (September 2026) 3.7 3.8 | Navigating a transforming industry ’ funded fleet growth outlook >+1% CAGR 2026 – 2029 15.8 2019 13.3 2025 12.5 2030 -2.9% p.a. -1.2% p.a. New passenger car registrations (million vehicles in EU, EFTA, UK) New passenger car registrations in operating lease (million vehicles in EU, EFTA, UK) 3.6 2019 3.7 2025 3.8 2030 +0.1% p.a. +0.4% p.a.
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• Stricter regulation ahead of customer adoption • Ranges nearing customer expectations • Developing charging infrastructure • Improved time to charge • Reducing new vehicle prices • Customer acceptance, TCO advantage vs. ICE vehicles • Increasing stability in BEV policies and regulations • Range meeting customer expectations • Fast and reliable charging infrastructure • Mature used car market • Low consumer appetite & awareness • Range anxiety • Subscale charging infrastructure • Long time to charge • High new vehicle prices • Limited makes & models 1. Source: ACEA 2. Source: EV Volumes (March 2026) | Navigating a transforming industry 9
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Historic core offer Historic core customer segment Growing into Multi-brand lease companies Banks OEM captives Dealer Groups | Navigating a transforming industry 10
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11 Largest fleet & geographic footprint among multi-brand players A ’ comp titi ad a tag 3.1m 2.3m 0.9m 0.8m 40 28 11 33 Total fleet size Countries covered Scale advantages: procurement power, operational efficiency, remarketing powers, volume of data gathered Residual Value and lifecycle risk management expertise at scale underpinned by diversification Strong service DNA Funding capacity and access to capital markets Partnering at the center of the ecosystem | Navigating a transforming industry 11
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Low market growth for the operating lease Fast growing Chinese OEMs Electrification & affordability Lower services revenues for BEVs • Renew focus on growth and clients now that the integration phase is completed • Seize bolt-on acquisitions opportunities • Size partnerships with new entrants • Generate new revenue streams from EV charging solutions, data and connectivity services | Navigating a transforming industry • Grow our retail franchise, supported by the transition from ownership to usership • Grow our used car lease fleet 12
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3 pillars to achieve our ambition G R O W Grow selectively & upsell T R A N S F O R M Prepare today for tomorrow’s opportunities E X C E L Operational excellence powered by people, data, tech & AI Creating value for all our stakeholders People Risk management Sustainability Supported by strong foundations 14
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15 Leveraging our scale and strong expertise, we make mobility easy for our clients and optimize their mobility cost Clients | Vision and supporting foundations We contribute to a more sustainable future, reducing our clients' fleet emissions Society We are focused on shareholders return and base our decisions on value creation, optimizing growth and returns Shareholders We are committed to build an environment for our people to thrive leveraging our diversity and global presence to create enriching career paths Employees
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16 | Vision and supporting foundations
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17 Balancing growth and asset value protection to support sustainable long-term returns Group wide oversight of residual value, ALM, credit, compliance, privacy, customer protection, AML, insurance, model and non- financial risks • Oversight by Ayvens’ Board of Directors, Societe Generale and the ECB • Well-defined risk appetite • Risk committees and escalation processes Leveraging deep remarketing expertise, unique data pool, expert valuation practices and continuous portfolio monitoring | Vision and supporting foundations
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With concrete impact 18 Integrated approach across the value chain Sustainable supply chains Sustainable mobility products and advisory Low emission fleets Circular economy in vehicle operations Vehicle life cycle management Including robust ESG risk framework and comprehensive ESG disclosures Creating value for all our stakeholders Customer satisfaction People engagement Cost optimization Brand recognition Reduce CO2 intensity of leased running fleet in a range from 75g to 85g CO2/km in 2029 vs. 101g CO2/km in 2025 supporting our near and long term SBTi-validated CO2 trajectory
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19 G R O W Grow selectively & upsell E X C E L Operational excellence powered by people, data, tech & AI T R A N S F O R M Prepare today for tomorrow’s opportunities
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20 Selective growth funded fleet growth above 3% vs. 2026 Gain market share in profitable geographies and segments Grow retail funded fleet by 15% vs. 2026 Grow LCVs funded fleet by 10% vs.2026 Increase penetration in insurance & damage cover by at least 3 p.p by 2029 Roll out Ayvens Power in 15 countries by 2029 G R O W G R O W Upsell to drive services margins growth Scale up LCV fleet management solutions across markets
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21 Screen all market segments and identify the growing spots Balance growth perspectives and profitability Allocate ressources to the highest-value opportunities C U S T O M E R T Y P E BY C O U N T R Y BY BY S A L E S C H A N N E L BY Developed markets Emerging markets Passenger cars Light commercial vehicles Direct sales Online partnerships Large corporates Small and medium-enterprises Private individuals Grow selectivelyG R O W V E H I C L E T Y P E
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22 Large and mature countries with modest market growth Medium growth countries High growth and less mature markets Increase profitability UKEastern Europe, Asia, LATAMWestern Europe Grow selectivelyG R O W
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23 Established footprint Multi-channel distribution capabilities Strong profitabilityGrowing market 1. On G10 countries, Leaseurope, BVRLA, McKinsey Center for Future Mobility, Ipsos, EY Mobility Consumer Index, SMMT, Eurostat, Stratistics Win the digital journey Leveraging AI & tech to provide a seamless customer experience and grow at a marginal cost Create attractive offers powered by our scale Through banking partners’ apps and BtoBtoE offers Grow c. 15% over 2026-2029 and reach 900k+ vehicles with retail clients 780k vehicles 65% SMEs – 35% consumers margins 50 bps higher vs. corporates +7% estimated growth(1) 2026 - 2029 460+ partners online showrooms Extensive choice of vehicles, competitive pricing and compelling leasing packages Expand customer reach Build on our strong commercial foundation Client engagement & support, service & maintenance, retention & growth optimization Grow selectivelyG R O W
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24 Stronger market growth Uneven market share across countries Stronger resale performance Expand our expertise to steer customer support & consulting Grow c. 10% over 2026-2029 and reach ~580k LCVs +7% expected growth 2026-2029 (1) Target SMEs & low share markets Lead with next- generation eLCVs for competitive advantage and sustainability Upgrade our LCV product offering with a comprehensive turnkey solution 1. Source: EV Volumes Grow selectivelyG R O W
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25 Services penetration rates are uneven across service types and locations Increase insurance & damage cover penetration Ayvens Power Scale up LCV fleet management solutions across markets Grow our share of wallet Usage and clients’ needs are evolving with electrification Develop and sell new charging services Data and connected fleets enhance further our knowledge of the usage of vehicles Develop and sell new services to optimize fleet management UpsellG R O W
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26 Competitive cover Increased safety Optimised fleet management Accretive to the Group’ profitabilit Integrated value proposition Low volatility and low risk activity Low capital consumption Keep up with the penetration growth momentum and reach 56% in 2029 Attractive economics UpsellG R O W
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Fleet Manager monitoring tools, reporting and integrated invoice Vehicle order (Multi-brand vehicle catalogue) Charging everywhere (at home, office, on the road) Tag App One card/app, accessing > 1mln charge points (1) with full transparency in public, home and office 27 Roll out Ayvens Power card in 15 countries by 2029 vs. 2 countries in June 2026 Card UpsellG R O W 1. In partnership with Plugsurfing
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G R O W Grow selectively & upsell E X C E L Operational excellence powered by people, data, tech & AI T R A N S F O R M Prepare today for tomorrow’s opportunities
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29 E X C E L E X C E L Annual cost of services base c. EUR 2.6bn(3) Annual operating expenses base c. EUR 1.7bn(2) Steady decrease of operating expenses(1) Optimize IT spend Optimize cost to serve, targeting ~2% reduction net spend in services margins by 2029 1. Based on macroeconomic outlook in the Eurozone cf. section 03. Financial trajectory of this presentation 2. FY 2025 operating expenses excluding CTA 3. FY 2025 repair, maintenance and tyres costs 29 • Simplify and standardize our processes • Mutualize our ressources • Automate labour-intensive processes, leveraging data & AI, targeting 30% efficiency gains on selected key processes • Harmonize our IT landscape • Reduce run costs and increase build costs by 50% • Reduce IT intensity ratio to c. 12% in 2029
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30 E X C E L E gi r ’ productivity Use of generative AI and agents leverage AI in IT projects and processes Transform business processes Machine learning led use cases leverage data & develop business cases Generative AI/Assistants use embedded assistants in software Adoption and acculturation of AI by all employees ccompa all ’ employees in their AI journey Leverage generative AI and assistants to improve efficiency across the Group Commerce, Services & Ops, Finance Run & Build IT processes
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31 Leveraging data to understand customer demand Already deployed in Belgium and France 2026-2029 large-scale countries covering ~80% of the fleet Emails & web to case Digital touchpointsPhone calls \ Live ChatChatbot AI case automation Internal AI assistant Expected benefits Customer service improvement Cost reduction Enabler for the retail growth strategy Strategy AI-powered technology model Customer interactions per annum E X C E L Contact strategy Starting smart Deployment plan Enhancing efficiencyAI Deflection
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32 Digitalisation Standardise, simplify and streamline AI enabled focus on retail performance Compliance-by-default onboarding journey & a KPI driven culture Immediate approval for private individuals Expected benefits Strategy Performance levers E X C E L Processes alignment Compliance & accountability Efficiency & costSpeed Client onboarding – KYC and Credit Current state Risk & Compliance # files/ FTE /day Cost per file Q&A % KYC Cost of risk Customer satisfaction improvement Cost reduction Enabler for the retail growth strategy Better risk management
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Build in-house assets Configure market solutions Configure market solutions Leverage Societe Generale Group’s assets Client interface Sales & services management Business process & operations IT infrastructure & Corporate platform 33 Improve customer experience through digitalization (client onboarding & interactions, etc.) Reduce IT intensity ratio from c. 15% in 2026 to c. 12% in 2029 E X C E L Reduce Run costs and increase Build costs by c. 50% supporting th Group’ tra formatio
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Improve steering through MyAyvens app and by vehicle type Leverage AI across a 50m-event data lake, country benchmarks and control towers Attack ~ EUR 200m annual parts spend through parts optimisation initiatives Inconsistent repair: replace ratios across countries to be improved Improve usage of preferred brands to achieve savings on ~ EUR 700m tyre spend Targeting c. 2% reduction net spend in services margins by 2029 E X C E L 34
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35 Maximize resale price vs. B2B benchmark Minimize remarketing costs Embed remarketing in sourcing decisions Remarketing platforms Steer resale timing Steer to best channels Reduce logistics costs Vehicle selection and condition Ayvens Carmarket Multi-cycle lease Contract extensions Drivers Export Cycle time management Steer vehicles to buy and RV settings Improvement of used cars values (SOH, refurbishment) E X C E L
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T R A N S F O R M Prepare today for tomorrow’s opportunities G R O W Grow selectively & upsell E X C E L Operational excellence powered by people, data, tech & AI
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37 Strong market growth prospect Powerful client acquisition engine Superior profitability Scale supply Availability through Ayvens’ returning vehicles and third parties’ assets Industrialize operations Refurbishing in house (e.g. Ayvens Factory in the Netherlands) or with partners Harmonize digital platform To improve speed, consistency and scalability Grow Re-lease by c. 13% CAGR over 2026-2029 to reach 100k+ vehicles +10% expected CAGR growth 26-29(1) Higher margins vs. new vehicle leasesMore than 60% customers are new 1. McKinsey and Roland Berger Long-term growth potential supported by electrification T R A N S F O R M Scale Re-lease into a core fleet segment
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38 AI is moving into the vehicle • On-device and cloud-based intelligence • The vehicle as a connected platform, not fixed hardware Software-defined vehicles the new standard • Customer experience shaped by software and connectivity • Software quality, cybersecurity and updateability impact RVs Vehicle data becomes strategic • OEM data "over the air" the new norm • Accessibility and standardization of data thanks to EU regulation • Data easier to aggregate through AI Gather & aggregate data Develop new services use cases (e.g. predictive maintenance, accident management, roadside assistance, battery SoH, emission reporting etc.) T R A N S F O R M
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39 Ayvens is a natural partner. 3 success enablers for AVs / Robotaxis: T R A N S F O R M AV tech leadership Demand & client access Complex fleet management expertise Maintenance and insurance expertise Financing & asset risk capabilities Ecosystem access – clients, RMT, OEMs Pan-European platform Comprehensive EV and charging solutions Engage with key players across the ecosystem, test products and business models
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41 • GDP growth: gradually up to c. 1.5% in 2029 • 2029 interest rates: ECB deposit facility rate gradually up to 2.75% • Inflation: coming down to c. 2% in 2029 • New & used car price evolution: • ICE & Hybrids: slightly up • PHEVs/BEVs: downward scenario, more pronounced for BEVs | Financial trajectory Earning assets growth • c.+10% in Dec 29 vs. Dec 26, accelerating throughout the period Margins growth • Growth in mass despite electrification • Slight softening of margins in bps Used car sales result • Low net contribution to gross operating income Operating expenses • Decrease in absolute value
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1. As at 30 June 2026 2. Outstanding borrowings net of deposits and equity reinvestments with Societe Generale, as at 30 June 2026 3. Ayvens average secondary senior unsecured bond market 4y spread vs. € mid-swaps compared to iBoxx € indices. Source: Bloomberg 4. Internal MREL regulatory requirement at 23.43%, including combined buffer Growing retail deposit base (EUR bn) + EUR 3bn since December 2023Strong credit and sustainable profile Negative Stable Positive • Funding relationships with more than 50 banking partners and IFIs worldwide • Successful expansion into Asian and Middle- Eastern syndicated loan markets Well-balanced funding mix (EUR bn)(1) Credit spread at historic lows(3) Dec-18 Dec-23 Jun-26 Germany Netherlands 6.4 11.6 14.8 EUR 45 bn 32% 24% 6% 15% Societe Generale(2) Retail deposits Bonds Securitization Bank loans 40bp 60bp 80bp 100bp 120bp 140bp 160bp Sep-23 Mar-24 Oct-24 Apr-25 Nov-25 May-26 iBoxx € uto & Part iBoxx € Ba k S ior 4 € S ior 42 • Average oversubscription rate of approximately 5x across recent bond issues(2) • Credit spread outperforming peers in bond market 23% › First international leasing company with validated SBTi trajectory › 100% of 2026 bond funding to date executed in Green bond format › Issuer of first Green Auto ABS in Europe › Internal Senior Non-Preferred debt to be raised by end 2026(4) | Financial trajectory
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43 RETAIL DEPOSITS SECURITIZATION BOND MARKET R E T A I L D E P O S I T S S E C U R I T I Z A T I O N B O N D M A R K E T Strengthen funding resilience, reduce overall funding costs, and support a well-balanced mix across funding sources Further develop our ABS platform spanning five countries today to additional jurisdictions Maintain regular presence including in Green bond market, with focus on 2y-6y maturity range | Financial trajectory
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Underlying C/I Ratio Reported Margins excl. hyperinflation, PPA, non-recurring impacts from treasury activities and other non-recurring items Reported Operating Expenses excl. CTA , rebranding, consultancy & one-off IT impairment Reported Margins excl. hyperinflation Reported Operating Expenses C/I Ratio excl. hyperinflation 2026 guidance Underlying C/I ~52% 2026 guidance C/I excluding hyperinflation ~53%Equivalent to Switching to a C/I ratio excluding hyperinflation for From to | Financial trajectory 44
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Overheads inflation Impact of electrification Growth & Upselling Productivity including AI benefits ~49% 2026 guided C/I Ratio(1) ~53% ~-3p.p ~-6p.p ~+3p.p ~+2p.p 1. Reported cost-to-income ratio excluding net UCS result and hyperinflation = Reported operating expenses / Reported margins excluding hyperinflation 2029 guided C/I Ratio(1) | Financial trajectory 45 EXTERNAL FACTORS GROW EXCEL
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46 2026 targets 46 46 | Financial trajectory 2029 targets(1) 1. Based on macroeconomic outlook in the Eurozone cf. section 03. Financial trajectory of this presentation 2. Reported cost-to-income ratio excluding net UCS result and hyperinflation
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48 Key takeaways Resume growth accelerating throughout the plan while being selective. Optimize our processes with AI-driven automation to reduce costs. C/I ratio at c. 49% Leverage our people expertise and scale to better serve our clients. Foster a performance and data driven culture across the Group. Deliver increasing returns to shareholders. ROTE at 14%-16% and dividend payout at 50%-60% + return of excess capital
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49 2030 decade • Integration of ALD & LeasePlan • Delivering scale benefits in a disrupted environment • Shift to value • Optimize growth and returns • Selective fleet growth • Profitability driven by margins expansion and reduction in opex • Electric is the new norm • Accelerating growth • Higher profitability
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2023 Operating expenses | Appendix 51 Inflation CTA & rebranding Staff synergies Other synergies Other savings H1 2026 annualised Operating expenses +182 -198 -157 -31 -118 1,998 1,664 1. FY 2023 on a pro forma basis as published in the URD 2023 (1)