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Nuancier principal Nuancier secondaireNuancier principal Nuancier secondaire 1 30/07/2026 Digital bus shelter, 57th Street, New York 2026 HALF-YEAR RESULTS
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Nuancier principal Nuancier secondaire 01 BUSINESS OVERVIEW 03 OUTLOOK & STRATEGY // 2 02 FINANCIAL HIGHLIGHTS Digital, Stockholm Metro Digital, Barcelona Digital, Chicago
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Nuancier principal Nuancier secondaire // 3 BUSINESS OVERVIEW Jean-Charles Decaux Chairman of the Executive Board and Co-CEO Digital, Barcelona
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Nuancier principal Nuancier secondaire STRONG PERFORMANCE DRIVEN BY DIGITAL IN H1 2026 // 4 €1,953.9m Revenue +5.7% Organic revenue growth +14.5% Organic digital revenue growth Digital at 42.8% of total revenue +30.9% Programmatic organic revenue growth 12.3% of digital revenue Solid revenue momentum +16.8% Operating margin at €359.0m +53.5% Recurring EBIT at €136.2m +84.7% Net income Group share at €140.1m +41.8% Operating cash flows at €218.0m +€91.1m FCF yoy at €26.2m Positive H1 FCF, despite seasonality Strong financial performance Note: All alternative performance measures (including revenue, organic growth, operating margin, EBIT, recurring EBIT, operating cash flows, free cash flow) are defined in Appendices.
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Nuancier principal Nuancier secondaire HIGHER-THAN-EXPECTED REVENUE GROWTH IN Q2 // 5 +5.7% Q2 H1 Well above our guidance Driven by digital and 2026 FIFA World Cup Solid start of the year incl. +5.7% growth in Q1 Growth across all segments and geographies(1), driven by digital +5.7% Organic growth (1) Organic growth in all geographies except France which was affected by non advertising one -off items in 2025, +1.0% for advertising revenue in France.
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Nuancier principal Nuancier secondaire +5.3% +4.8% +1.2% +4.6% GROWTH ACROSS ALL SEGMENTS // 6 STREET FURNITURE TRANSPORT BILLBOARD GROUP H1 2026 Reported growth (%) H1 2026 Organic growth (%) STREET FURNITURE TRANSPORT BILLBOARD GROUP +7.3% +5.3% +0.8% +5.7%
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Nuancier principal Nuancier secondaire +5.7% BROAD-BASED REVENUE GROWTH ACROSS GEOGRAPHIES // 7 H1 2026 Organic growth (%) +19.6% -1.9%(2) +12.8% +2.3% +7.8% +3.0%(3) REST OF EUROPE(1) ASIA PACIFIC FRANCE REST OF THE WORLD NORTH AMERICA UNITED KINGDOM GROUP (1) Excluding France and United Kingdom, ( 2) incl. +1.0% for advertising revenue, ( 3) +18.3% excl. Middle East
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Nuancier principal Nuancier secondaire UNIQUE PREMIUM AND GLOBAL OOH MEDIA FOOTPRINT // 8 REST OF THE WORLD REST OF EUROPE FRANCE UNITED KINGDOM ASIA PACIFIC 51.3% 35.3% 13.4% NORTH AMERICA EUROPE 47.7% TRANSPORT BILLBOARD STREET FURNITURE H1 2026 revenue breakdown 31.2% 16.5% 10.8% 20.3% 13.1% 8.1%
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Nuancier principal Nuancier secondaire 17% 16% 13% 11% 7% 6% 5% 4% 4% 4% 12% H1 2026 Revenue by customer category, change vs H1 2025 +0% Fashion/ Personal Care & Luxury Goods +9% Retail +4% Entertainment/ Leisure/Film+15% Finance +4% Travel +13% Food/Beverage -10% Services +19%(1) Telecom/ Technology +5% Internet +10% Automobile +0% Other DYNAMIC AND HIGHLY DIVERSIFIED CLIENT PORTFOLIO THE TOP 10 CLIENTS ACCOUNT FOR LESS THAN 12% OF GROUP REVENUE // 9 (1) Includes generative AI campaigns Based on commercial data representing more than 90% of advertising revenue. Digital, Sao Paulo Metro
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Nuancier principal Nuancier secondaire 11.5% 15.6% 18.6% 23.9% 23.9% 22.8% 30.0% 32.6% 36.8% 39.6% 42.8% H1 2016 H1 2017 H1 2018 H1 2019 H1 2020 H1 2021 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 of total revenue in Q2 2026 +16% CAGR STRONG DIGITAL REVENUE CONTRIBUTION // 10 TRANSPORT BILLBOARD STREET FURNITURE Group digital revenue as a % of total Group revenueBreakdown of digital revenue by segment (H1 2026) +14.5% organic digital revenue growth in H1 2026 N.B.: Years prior to 2017 have not been restated from the IFRS 15 impact, applicable on January 1st, 2018. 43.7% 49.1% 39.6% 11.2%
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Nuancier principal Nuancier secondaire 6.4% 37.5% 41.0% H1 2016 H1 2025 H1 2026 London 19.0% 44.5% 48.1% H1 2016 H1 2025 H1 2026 6.5% 35.4% 36.1% H1 2016 H1 2025 H1 2026 GROWING DIGITAL ACROSS ALL BUSINESS SEGMENTS // 11 Street Furniture N.B.: Years prior to 2017 have not been restated from the IFRS 15 impact, applicable on January 1st, 2018. Transport Billboard Shenzhen Airport Digital revenue as a % of total revenue +24% CAGR H1 2016 / H1 2026 +10% CAGR H1 2016 / H1 2026 +20% CAGR H1 2016 / H1 2026 Pretoria
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Nuancier principal Nuancier secondaire STRONG PROGRAMMATIC REVENUE GROWTH €102.8m H1 2026 programmatic rev.(1) +30.9% organic growth vs H1 2025 12.3% of total digital revenue (vs 10.1% in H1 2025) // 12 Enhanced capabilities 50 DSPs & 350,000+ screens incl. 35,000+ screens from JCDecaux in 46 countries across 5 continents 49 third-party media owners connected to VIOOH 8 third-party SSPs connected to Displayce (1) incl. revenue from managed-service solutions offered to direct advertisers and agencies to run programmatic campaigns pDOOH campaign, Stockholm
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Nuancier principal Nuancier secondaire Group Average PROGRAMMATIC CONTINUED GROWTH AHEAD SHARE OF PROGRAMMATIC IN DIGITAL REVENUE H1 2026 - TOP 10 COUNTRIES // 13 pDOOH campaign, Oslo 42.7% 30.8% 20.2% 19.9% 19.9% 13.5% 12.3% 10.7% 9.5% 9.2% 6.4% Allemagne Pays bas Norvege Espagne Belgique Brésil Group Average Royaume-Uni Australie Italie Etats Unis
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Nuancier principal Nuancier secondaire HEATHROW AIRPORT CONTRACT RENEWAL // 14 8-year advertising contract extending a partnership of more than 25 years UK’s international gateway and world’s most connected airport for the 3rd consecutive year, with 84.5m passengers in 2025 and flights to 230 destinations in over 80 countries. Extensive media estate of 680+ digital screens and premium assets Contract strengthens our global airport leadership supporting our global programmatic DOOH offer
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Nuancier principal Nuancier secondaire // 15 DOOH RETAIL MEDIA GROWING AND EXPANDING Sources: (1) December 2025 Global forecast, Group WPP, December 2025, (2) IAB Europe 2025 Attitudes to Retail Media Report, ( 3) Mordor Intelligence Retail Media Networks Market Size and Share CARMILA CONTRACT UNDER DEPLOYMENT A new data-driven OOH/DOOH network in exclusive partnership with Unlimitail A DYNAMIC ACTIVITY FOR JCDECAUX A FAST-GROWING MARKET Digital revenue Countries Access to partners’ data Targeted and contextual c.90% 44 Data pDOOH Market (1) incl. Online of retail sales in- store (2) DOOH 2025-2031 CAGR (3) $174bn 85% +11.6% SOME OF OUR PARTNERS Toulouse
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Nuancier principal Nuancier secondaire // 16 BEST-IN-CLASS IN ESG (4) Media and Advertising Media average(4): 15.9 11.1 (1) Web & Marketing Services A A- B C C- D D- B- Media average(1): C A List (3) Media & Entertainment AAA AA A BBB BB B CCC Media average(3): BBB AAA (2) Advertising and Market Research Media average(2): 60 80/100 40+ Negligible risk 0-10 Low risk 10-20 Medium risk 20-30 High risk 30-40 (2) Advertising and Market Research 0 - 62 Platinum 85-100 Gold 79-84 Silver 72-78 Bronze 63-71
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Nuancier principal Nuancier secondaire JCDecaux Spain “Meet Marina Prieto” ranks in the Top 10 of the “Creative 100” listing WARC Creative 100, March 2026 Bronze award in the Digital category with Sibuya Santa Engracia OOH Lovers, June 2026 Silver Lion for Sea Cleaners & JCDecaux’s “Reverse Media Schedule” Cannes Lions International Festival of Creavity, June 2026 JCDecaux New Zealand Cornerstone Award of the Illinois Restaurant Association (ILA) Cornerstone Award of the Illinois Restaurant Association, January 2026 JCDecaux North America STRONG CORPORATE CULTURE: TEAMS’ AWARDS SELECTION OF AWARDS // 17 Top 50 Advertising Urban Bus Media in China China Urban Bus Media Industry Development Conference, June 2026 Sustainable Impact Award Importance CCI France Chine, May 2026 Best Advertising Technology System / Tool / Platform of the Year 17th Tiger Roar Awards, May 2026 JCDecaux China Bronze award for “Media Sales House of the Year – Leaders,” Gold award for “Media Research of the Year” Two Silver awards for “Best Use of 1 Medium” AMMA Awards, June 2026 JCDecaux Belgium Gold award Grand Prix Stratégies de l’IA, May 2026 Displayce 3rd place “Municipalities” category for the bikeMi campaigns IoMOBILITY Awards, May 2026 IGPDecaux Best employee learning and development program UK Company Culture Awards 2026, May 2026 JCDecaux UK Best use of AI in Research Project (Optix Creative pre-testing tool) Adwanted Media Research Awards, March 2026 JCDecaux France Sales House of the Year Award Grand Prix Stratégies for Media Innovation, May 2026 Gold award “Omnichannel & Phygital Customer Experience” Trophées E-commerce, July 2026 Extime JCDecaux Airport “WallDecaux Digestif Bar” – Brand Events category award German Brand Award, June 2026 WallDecaux
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Nuancier principal Nuancier secondaire Digital, Stockholm Metro // 18 FINANCIAL HIGHLIGHTS David Bourg Group Chief Financial, IT & Operations Officer
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Nuancier principal Nuancier secondaire Change M€ % Revenue 1,953.9 1,868.3 +85.6 +4.6% Operating Margin 359.0 307.4 +51.5 +16.8% EBIT before impairment charge 196.2 125.6 +70.5 +56.1% Net income Group share, IFRS 140.1 75.9 +64.2 +84.7% Net income Group share, excl. capital gain on APG|SGA’s shares 93.5 75.9 +17.7 +23.3% Operating cash flows 218.0 153.7 +64.2 +41.8% Free cash flow 26.2 (64.9) +91.1 +140.4% Net debt as of end of period, IFRS 628.8 912.9 -284.1 -31.1% In million Euros, except %. H1 2025H1 2026 SUMMARY OF FINANCIAL RESULTS // 19 All alternative performance measures (revenue, operating margin, EBIT, operating cash flows, free cash flow and net debt) are defined in Appendices. The values shown in the tables are generally expressed in million of euros. The sum of the rounded or variations calculation may differ, albeit to an insignificant extent from the reported value.
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Nuancier principal Nuancier secondaire 24.5% 11.2% 13.9% 18.4%85.6 -27.2 -6.9 307.4 359.0 2025.06 Revenue Rents & Fees Other operating costs 2026.06 +4.6% +3.4% +0.9% +16.8% // 20 YOY Variation In percentage+X.X% (*) (*) Incl. cost of goods sold In million € STREET FURNITURE TRANSPORT BILLBOARD GROUP +170bp +310bp+160bp +190bp Increase in OM (*) to sale ratio across all segments (%) Vs 06.2025 (*) Operating Margin REPORTING STRONG OPERATING MARGIN IMPROVEMENT H1 2025 H1 2026
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Nuancier principal Nuancier secondaire M€ % Operating Margin 359.0 307.4 +51.5 +16.8% Margin (% Revenue) 18.4% 16.5% +190bp Net amortisation and depreciation (*) (201.1) (196.3) -4.8 Maintenance spare parts (21.7) (22.5) +0.8 Recurring EBIT 136.2 88.7 +47.5 +53.5% Margin (% Revenue) 7.0% 4.7% +220bp Other items 60.0 36.9 +23.0 EBIT before Impairment charge 196.2 125.6 +70.5 +56.1% Margin (% Revenue) 10.0% 6.7% +330bp Net impairment charge (3.7) 0.7 -4.4 EBIT 192.5 126.3 +66.2 +52.4% Margin (% Revenue) 9.9% 6.8% +310bp H1 2026 H1 2025 Change STRONG EBIT GROWTH // 21 Note (*): Net amortisation of tangible, intangible assets, PPA & non-core business right-of-use 1. H1 2026 net income of €60.0 million includes capital gain on APG I SGA transaction (€47.5 million) and reversals of dismantli ng provisions (€12.5 million), while H1 2025 included one-off sale of assets to Transport for Greater Manchester (€14.5 million) and reversals of dismantling provisions (€20 .4 million). 2. H1 2026 net charge included a -€2.9 million of asset impairment and -€0.8 million of provision for onerous contracts whereas H1 2025 net income included a €0.7 million reversal of provision for onerous contracts.
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Nuancier principal Nuancier secondaire M€ % EBIT 192.5 126.3 +66.2 +52.4% Restatement IFRS 11, EBIT from companies under joint control (25.1) (23.8) -1.3 Restatement IFRS 16, Core business lease contracts of controlled entities 39.4 45.3 -5.9 EBIT, IFRS 206.8 147.8 +59.0 +39.9% Financial income (loss)* (55.5) (64.4) +8.9 o Financial interests relating to IFRS 16 liabilities of controlled entities (32.3) (35.3) +3.1 o Other net financial charges (23.2) (29.1) +5.8 Tax (24.2) (13.7) -10.5 Equity affiliates 23.5 19.0 +4.5 Minority interests* (10.5) (12.9) +2.3 Net income Group share, IFRS 140.1 75.9 +64.2 +84.7% Net income Group share, excl. capital gain on APG|SGA’s shares 93.5 75.9 +17.7 +23.3% Net impact of impairment charge 4.7 0.5 +4.2 Net income Group share, before impairment, excl. capital gain on APG|SGA’s shares 98.3 76.4 +21.9 +28.6% In million Euros H1 2026 H1 2025 Change STRONG NET INCOME GROWTH // 22 (*) Excluding the impact of net discounting and revaluation charges on liabilities related to the commitment to repurchase mi nority interests (€(1.9)million in H1 2026 & €(4.0) million in H1 2025) 1. Decrease in the IFRS 16 restatement mainly related to new contracts with substitution clauses 2. In H1 2026, Financial loss improved by €8.9 million mainly driven by lower interest expense due to decrease in IFRS16 lease liabilities & financial debt 3. Increase in tax due to performance improvement.
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Nuancier principal Nuancier secondaire In million Euros H1 2026 H1 2025 Change M€ Operating margin 359.0 307.4 +51.5 Maintenance spare parts (19.2) (19.1) -0.1 Non-core business leases, IFRS 16 (36.1) (33.6) -2.5 Income tax paid (46.5) (47.3) +0.8 Interests paid and received (43.1) (47.4) +4.2 Other items 4.0 (6.3) +10.3 Operating cash flows 218.0 153.7 +64.2 Change in working capital requirement (76.2) (99.8) +23.5 Net capital expenditure (115.6) (118.8) +3.3 Free cash flow 26.2 (64.9) +91.1 STRONG FREE CASH FLOW GROWTH // 23 1. Favorable variation primarily due to: (i) higher dividends, (ii) one-off bank fees related to RCF refinancing paid in H1 2025 and (iii) lower restructuring costs 2. Better management of trade receivables / payables than same period last year, despite higher level of (i) revenue in June related to FIFA World Cup and (ii) inventory due to the new contract roll-outs (mainly Carmila in France). No material impact from factoring.
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Nuancier principal Nuancier secondaire 587.4 150.1 3.3 (26.2) (79.1) (6.7) 628.8 Net debt 12/2025 Net debt 06/2026 STRONG FINANCIAL STRUCTURE // 24 Debt maturity profile, in million Euros: Net debt Debt profile | Gross debt €1,912.5m | Average debt maturity: 2.6 years | 92% of debt at fixed rate // 24 Strong liquidity | €1,283.7m in cash | €825m committed revolving credit facility, fully unused, maturing April 2031, potentially April 2032 | Strong yoy €284.1m decrease in Net debt vs June 2025 | Improved credit profile: from Stable to Positive outlook by both agencies ▪ Moody’s: Baa3, Positive Outlook ▪ S&P: BBB-, Positive Outlook | Limited increase vs end of 2025 due to dividend payment Dividends FCF APG|SGA Rest. IFRS11 Others
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Nuancier principal Nuancier secondaire // 25 OUTLOOK & STRATEGY Jean-François Decaux Co-CEO Digital, Chicago
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Nuancier principal Nuancier secondaire OOH: A GROWTH MEDIA // 26 2025 / 2030 ADVERTISING REVENUE CAGR FORECASTS WORLDWIDE +5.2% CAGR FOR OOH OVER THE NEXT 5 YEARS Retail Media Total OOH Cinema Total TV Publishing Audio Digital (excl. Retail) (1) DOOH (1) Including Gaming, Intelligence search & Other Digital / Social, Source: This Year Next Year, WPP Media, June 2026 +8.6% +8.8% +7.2% +5.2% +2.9% +2.1% -1.0% -4.3%
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Nuancier principal Nuancier secondaire 77% 73% 76% 59% 47% 40% 32% 41% 27% 30% 9% 83% 77% 76% 57%(1) 46% 43% 41% 39% 28% 28% 9% Brazil UK USA Aus Germany Group average China Spain Italy Austria France H1 2025 H1 2026 // 27 SIGNIFICANT ROOM FOR DIGITAL GROWTH Group Digital penetration (% of country revenue) Group top 10 countries (1) 67% of advertising revenue
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Nuancier principal Nuancier secondaire A FULL ADTECH STACK OPEN TO THIRD PARTIES // 28 DATA MANAGEMENT PLATFORM DATA PROVIDERS - Mobile, audience, sensors, surveys AGENCIES, BRANDS + NATIVE DIGITAL & INDEPENDENT AGENCIES DEMAND SIDE PLATFORM DSP SUPPLY SIDE PLATFORM SSP OOH MEDIA OWNERS +49 other DSPs connected to VIOOH +8 other SSPs connected to Displayce +49 other media owners connected to VIOOH BUY SIDE SELL SIDE
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Nuancier principal Nuancier secondaire AI WILL BENEFIT OOH MEDIA IN THE REAL WORLD // 29 JCDecaux exclusive prime locations in the physical world Unique assets AI benefits Optimise from planning to booking & delivery through a simple prompt Creation of tailormade visuals, customised for each location for both print and digital campaigns Automatic screening of visuals to pre-approve them CONTENT MODERATION DYNAMIC CONTENT CREATION 1,105,906 154 3,895 advertising panels worldwide airports cities with a population of over 10,000 257 contracts in metro / train / tram / bus Modifier phot + premium AGENTIC TRADING
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Nuancier principal Nuancier secondaireNuancier principal Nuancier secondaire AIR TRAVEL STRONG GROWTH POTENTIAL // 30Sources: OACI, January 2026, Flightradar24 7.2 9.1 9.5 9.8 11.8 17.3 23.2 2015 2019 2024 2025 2030 2042 2054 Passengers, in billions Airports in the world, 14 in top 25 Airports available in pDOOH Countries 154 59 40 AIR TRAFFIC FORECASTS JCDECAUX BEST POSITIONED Bangalore Airport On July 23, 2026, global air traffic reached a record high, with 153,359 aircraft simultaneously in the sky
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Nuancier principal Nuancier secondaire Transport Europe Netherlands Amsterdam Schiphol Airport Spain AENA (suspended) Asia / Pacific Hong Kong SAR (China) Hong Kong Airport New Zealand Auckland Airport North America USA Chicago, San Francisco, Phoenix, Boston airports Street Furniture Europe - France Paris CIPs, Paris columns & flagpoles Unlimitail retail media in-store UK Transport for Greater Manchester, Reading, Highcross Leicester Germany Hamburg, Düsseldorf Belgium Gent Netherlands The Hague Austria Wiener Linien, Vienna CIPs North America USA Washington Canada Vancouver Rest of the World South Africa Cape Town Colombia Medellin MAIN TENDERS // 31 Includes digital Billboard Europe - France City of Paris private land Asia / Pacific Australia Transport for New South Wales Asia / Pacific Australia Melbourne
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Nuancier principal Nuancier secondaire // 32 JCDECAUX: THE SUSTAINABLE MEDIA Innovation for ecological transition A virtuous business model Paris Biodiversity experiment Measuring our impact Available internationally And more to come in 2026 46.7% of revenue aligned with EU Taxonomy(1) (2) 2050 Net Zero Climate Trajectory Approved by SBTi 2025(2) vs 2019 -68% Scopes 1+2(3) -42% Scope 3 (1) Taxonomy-aligned activities: Bus shelters, bikes and financing of public transport (2) 2025 adjusted data (3) Scope 2 market based
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Nuancier principal Nuancier secondaire 4122 2266 1832 1531 1117 449 422 362 243 125 361 1604 1227 Equity method 5.6% // 33 Sources: Company information, for listed companies FY2025 results released. Precise numbers not disclosed for private companies, estimates based on market insights. Ströer’s revenues are split into Ströer OoH Media and Ströer Digital & Dialog Media, DaaS & e-commerce and HQ. Equity method 16.44% Equity method 33% OOH: A FRAGMENTED MARKET North America revenues Non OOH Revenues 2025 revenue in Outdoor Advertising ($m) Equity method 5.6%
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Nuancier principal Nuancier secondaire 0 50 100 150 200 250 300 THE ONLY GLOBAL OOH COMPANY // 34 2025 NET ADVERTISING REVENUE ($bn) Source: This Year Next Year, WPP Media, June 2026 No. 23 in the world 2 European companies in the top 25 (14 from the USA, 9 from China) Top 25 75% Top 5 58% of ad market
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Nuancier principal Nuancier secondaireNuancier principal Nuancier secondaire H1 2026 KEY TAKEAWAYS // 35 |A strong first half across all key financial metrics |Strong growth momentum, led by digital |Diversification across geographies and businesses supporting growth |Digital platforms & programmatic scaling fast |Disciplined execution
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Nuancier principal Nuancier secondaireNuancier principal Nuancier secondaire Q3 2026 GUIDANCE // 36 Around +5% Organic Revenue Growth
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Nuancier principal Nuancier secondaireNuancier principal Nuancier secondaire // 37 Q&A SESSION Advertising wrap financing renovation works, Place de la Concorde, Paris
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Nuancier principal Nuancier secondaireNuancier principal Nuancier secondaire // 38 01 APPENDICES Digital, London
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Nuancier principal Nuancier secondaireNuancier principal Nuancier secondaire | The Group uses alternative performance measures (APM) which serve as key indicators of the Group’s operating and financial performance and reflect the business reality of the Group and the readability of our performance. These indicators are those used by the Management to monitor the activity, allocate resources and measure performance. | Our operating APM are: ▪ As regards the Profit & Loss, all aggregates down to the EBIT; ▪ As regards the Cash flow statement, all aggregates down to the free cash flow. | These operating APM are calculated based on accounting items taken from the consolidated financial statements prepared under IFRS but adjusted from the application of: ▪ IFRS 11, applicable from January 1st, 2014, under which companies under joint control previously consolidated using the proportionate method are accounted for using the equity method; ▪ IFRS 16, applicable from January 1st, 2019, under which a lease liability for contractual fixed rental payments is recognized on the balance sheet, against a right-of-use asset to be depreciated linearly over the lease term. As regards P&L, the fixed rent expense is replaced by the depreciation of the right-of-use in EBIT, below the operating margin, and a lease interest expense on the lease liability in financial result, below EBIT. IFRS 16 has no impact on cash payments, but payment of debt (principal) is booked in funds from financing activities. | As these standards do not make it possible to measure the Group’s operating performance and to inform Management about their decision making in line with historical data, operating aggregates disclosed in this document are adjusted: ▪ To integrate on proportional basis operating data of the companies under joint control; ▪ To exclude the IFRS 16 impact on our core business (lease agreements of locations for advertising structures excluding mainly real estate and vehicle rental contracts). Regarding IFRS 16, lease liabilities are excluded from net debt and the reimbursement of debt (principal) is reintegrated in the free cash flow (including non-core business). | These Alternative performance measures are used by Management and, pursuant to IFRS 8, Segment Reporting presented in the financial statements complies with the Group’s internal information, and the Group’s external financial communication therefore relies on this operating financial information. | In compliance with the AMF’s instructions, Alternative performance measures are reconciled with IFRS data in the Appendices section. ALTERNATIVE PERFORMANCE MEASURES (1/2) // 39
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Nuancier principal Nuancier secondaireNuancier principal Nuancier secondaire | Revenue: It includes on proportional basis the revenue of the companies under joint control. | Organic growth: The Group’s organic growth corresponds to the revenue growth excluding foreign exchange impact and perimeter effect. The reference fiscal year remains unchanged regarding the reported figures, and the organic growth is calculated by converting the revenue of the current fiscal year at the average exchange rates of the previous year and taking into account the perimeter variations prorata temporis, but including revenue variations from the gains of new contracts and the losses of contracts previously held in our portfolio. | Operating margin: Revenue less Direct Operating Expenses (excluding Maintenance spare parts) less SG&A expenses. It includes on proportional basis the data of the companies under joint control and excludes the IFRS 16 impact on our core business (lease agreements of locations for advertising structures excluding mainly real estate and vehicle rental contracts). | EBIT (Earnings Before Interests and Taxes): Operating Margin less Depreciation, amortisation and provisions (net) less Impairment of goodwill less Maintenance spare parts less Other operating income and expenses. It includes on proportional basis the data of the companies under joint control and excludes the IFRS 16 impact on our core business (lease agreements of locations for advertising structures excluding mainly real estate and vehicle rental contracts). | Recurring EBIT: EBIT excluding net reversal of provisions, impairment charge and Other operating income and expenses. It includes on proportional basis the data of the companies under joint control and excludes the IFRS 16 impact on our core business (lease agreements of locations for advertising structures excluding mainly real estate and vehicle rental contracts). | Free cash flow: Net cash flows from operating activities less capital investments (property, plant and equipment and intangible assets) net of disposals. It includes on proportional basis the data of the companies under joint control and excludes the IFRS 16 impact on our core business (lease agreements of locations for advertising structures) and non-core business (mainly real estate and vehicle rental contracts). | Operating cash flows: Net cash flows from operating activities excluding change in working capital requirement. It includes on proportional basis the data of the companies under joint control and excludes the IFRS 16 impact on our core business (lease agreements of locations for advertising structures) and non-core business (mainly real estate and vehicle rental contracts). | Net debt: Debt net of managed cash less bank overdrafts, excluding the non-cash IAS 32 impact (debt on commitments to purchase non- controlling interests), including the non-cash IFRS 9 impact on both debt and hedging financial derivatives, excluding IFRS 16 lease liabilities. ALTERNATIVE PERFORMANCE MEASURES (2/2) // 40
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Nuancier principal Nuancier secondaireNuancier principal Nuancier secondaire RECONCILIATION BETWEEN APM FIGURES AND IFRS FIGURES - INCOME STATEMENT // 41 (1) IFRS 16 impact on core business rents from controlled entities. (2) Of which amortisation (net) and provision (net) for respectively €(201.1) million and €14.7 million in H1 2026, and €(196.3) million and €28.8 million in H1 2025 (APM figures).
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Nuancier principal Nuancier secondaireNuancier principal Nuancier secondaire RECONCILIATION BETWEEN APM FIGURES AND IFRS FIGURES – CASH FLOW STATEMENT // 42 (1) IFRS 16 impact on core and non-core business rents from controlled entities.
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Nuancier principal Nuancier secondaireNuancier principal Nuancier secondaire 10.2% 6.9% -0.5% 7.6% 10.0% 24.5% 11.2% 13.9% 18.4% EBIT BEFORE IMPAIRMENT CHARGE BY ACTIVITY // 43 STREET FURNITURE TRANSPORT BILLBOARD GROUP STREET FURNITURE TRANSPORT BILLBOARD GROUP Incl. capital gain on APG|SGA’s shares +170bp +310bp+160bp +190bpVs 06.2025 -60bp +380bp+180bp +330bp (1) Before impairment charge Operating margin (% of Revenue) EBIT (1) (% of Revenue) GROUP +90bp Before Capital gain on sale of APG|SGA’s shares
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Nuancier principal Nuancier secondaireNuancier principal Nuancier secondaire This presentation may contain some forward-looking statements. These statements are not undertakings as to the future performance of the Company. Although the Company considers that such statements are based on reasonable expectations and assumptions on the date of publication of this presentation, they are by their nature subject to risks and uncertainties which could cause actual performance to differ from those indicated or implied in such statements. These risks and uncertainties include without limitation the risk factors that are described in the Universal Registration Document registered in France with the French Autorité des Marchés Financiers. Investors and holders of shares of the Company may obtain copy of such Universal Registration Document by contacting the French Autorité des Marchés Financiers on its website www.amf-france.org or directly on the Company website www.jcdecaux.com. The Company does not have the obligation and undertakes no obligation to update or revise any of the forward-looking statements. FORWARD LOOKING STATEMENTS // 44
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Nuancier principal Nuancier secondaireNuancier principal Nuancier secondaire