Slides
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Q1 Fiscal 2026 Revenues January 7, 2026
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Presentation Speakers ©Pluxee – All rights reserved Aurélien Sonet Chief Executive Officer Stéphane Lhopiteau Chief Financial Officer 22
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01 Outlook Financial Performance Highlights & Key Figures Appendices 3©Pluxee – All rights reserved
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©Pluxee – All rights reserved 4 Steady topline growth sustained Ongoing Employee Benefits business momentum, in line with the Group’s low double-digit track record Well-oriented commercial trajectory Robust commercial performance driven by strong new client acquisition and healthy net retention Advancing M&A roadmap Two additional bolt-on acquisitions closed, Skipr (Belgium, France) and ProEves (India) Solid, diversified M&A pipeline across geographies and deal sizes Positive outlook building on strength and agility Confirmed positive outlook in Fiscal 2026, leveraging Pluxee’s robust business model and agility in execution, amid an evolving regulatory framework in Brazil Robust start in Q1 FY26, delivering on expectations
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Operating Revenue €268m +9.1% +7.5% organic growth reported growth €308m Total Revenues Steady topline growth sustained in Q1 Fiscal 2026 5 NOTE: Q1 Fiscal 2026 ending November30, 2025. Ongoing revenue organic growth in Q1 Supported by strong Operating revenue performance and continued positive contribution from Float revenue Positive scope impact partly offsetting slowing currency headwinds 5©Pluxee – All rights reserved +9.0% +6.6% organic growth reported growth
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Major win in public sector in Italy 4 regional lots awarded by CONSIP to Pluxee, thanks to its innovative solution benefiting thousands of Italian civil servants Scaled-up Pluxee’s position in Italy with CONSIP-related business volume expanding by more than 5x Large Benefits contract continuation with Liverpool in Mexico Long-standing partnership since 2000 with a leading Mexican retailer, supporting HR process modernization and driving employee retention Sustainable long-term value creation, even amid challenging macroeconomic conditions 6 Continuously strong momentum in new client acquisition Healthy net client retention amid challenging environment Client loyalty continued at a high level Continued increase in average face value Early signs of end-user portfolio stabilization ©Pluxee – All rights reserved c. 100,000 employee users Quarterly commercial trajectory firmly on track Q1 Fiscal 2026 in business volume issued NOTE: ExcludingPublic Benefitsand presented at constant rates. (1) “ConcessionariaServiziInformativiPubblici”, the national purchasingcenter for Italy’spublic administration. (2) Net retentionrate excludingcut-off effectrelated to the currentdelay in the orderingof a large EmployeeBenefit programin Romania. Ongoing robust trend across regions Strong performance further bolstered by Brazil and a major employee benefit contract for the public sector in Italy Commercial performance Q1 FY26 Q1 FY26 Net client retention (2) Q1 Fiscal 2026 Further increases in face value Strengthened client loyalty Cross-selling New client development Fiscal 2026 100% Fiscal 26 target €1.3bn+ 0 0 End-user portfolio 200,000+ employee users
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02 Financial Performance Outlook Highlights & Key Figures Appendices 7©Pluxee – All rights reserved
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Business volumes growth sustained by Employee Benefits €4.8bn €5.0bn €1.7bn €1.3bn Fiscal Q1 2025 Fiscal Q1 2026 €6.5bn €6.3bn +7.2% (1) +5.4% incl. cut-off effect from a large program in Romania 88©Pluxee – All rights reserved Employee Benefits business volumes growth supported by: • low double-digit growth in Latin America and Rest of the World driven by strong commercial development with new clients and ongoing face value increases • mixed dynamics across Continental Europe with strong momentum in Southern Europe offset by macro headwinds in several countries Other Products and Services BVI reflecting the anticipated end, scale- down or deferred ordering of certain large Public Benefit contracts across Continental Europe Sustained Employee Benefits business volumes trend NOTE: Fiscal Q1 2026 ending November 30, 2025; (1) BVI growth excluding cut-off effect related to the current delay in the ordering of a large Employee Benefit program in Romania. Employee Benefits YoY organic growth+X%Other Products & Services Business volumes issued (BVI)
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Robust business growth fueling Total revenues performance 99 249 268 40 40 Fiscal Q1 2025 Fiscal Q1 2026 ©Pluxee – All rights reserved Operating Revenue consistent growthdriven by robust Employee Benefits performance across regions, with Continental Europe remaining in positive territory despite persistent headwinds Float revenue continued to grow, driven by higher year-on-year interest rates in Brazil and efficient investment approach tailored to local market conditions, allowing to more than offset the progressive decrease in rates in other countries Positive scope effect from recent bolt-on acquisitions - including Cobee, BenefícioFácil, and Skipr- helped balance currency effects mainly related to Türkiye Total revenues up +9.0%, sustaining strong growth momentum Total Revenues by nature €289m €308m +9.1% +8.5% Operating Revenue YoY organic growth+X%Float Revenue +9.0% organic growth +6.6% reported
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212 234 37 34 Fiscal Q1 2025 Fiscal Q1 2026 Low double-digit growth delivered in Employee Benefits supported by a solid business trend combining new client wins, further face value increases, and a slight year-on-year improvement in take-up rate – Consistent contribution from all types of benefit solutions at Group level Other Products & Services reflect the anticipated end, scale- down and temporary delays of certain large Public Benefit contracts in Continental Europe, notably in Austria, Romania and Belgium Operating revenue by line of services Growth dynamics in Operating Revenue sustained by Employee Benefits 10 €249m €268m 10 +11.6% Employee Benefits operating revenue organic growth sustaining strong trajectory +11.6% (5.7)% ©Pluxee – All rights reserved Employee Benefits YoY organic growth+X%Other Products & Services +9.1% organic growth +7.5% reported
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11 Consistent regional contribution to Operating revenue growth 11©Pluxee – All rights reserved Continental Europe Sustained growth despite a challenging macroeconomic context, temporary headwinds in Public Benefits and a deferred ordering in a large program in Romania Latin America Substantial growth fueled by strong momentum across the region, supported by a more favorable macro environment - including persistent inflation - and the strong attractiveness of the Group’s solutions Rest of the world Solid regional performance, Türkiye being a key growth engine; Early signs of a turnaround in the UK and the US, following structural initiatives, including changes in management teams and the launch of new employee engagement platforms All regions Rest of the world Cont. Europe Latin America €110m 41% €112m 42% €268m €46m 17% Organic growth +12.6% Total growth (0.1)% Organic growth +9.1% Total growth +7.5% Organic growth +2.7% Total growth +4.9% Organic growth +14.3% Total growth +13.9%
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03 Outlook Appendices Financial Performance Highlights & Key Figures 12©Pluxee – All rights reserved
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Outlook: Fiscal 2026 financial objectives 13©Pluxee – All rights reserved NOTE: Revised Fiscal 2026 financial objectives assume full implementationof the Workers’Food Program (PAT) reform in Brazil in the announced timeline and include the positive impacts of mitigatingactions as well as the adaptation of the group’soperatingmodel in Brazil. It will be graduallydeployed accordingto the reformtimeline. (1) At constant foreigncurrenciesand scope. Total Revenues organic growth(1) Recurring EBITDA margin(1) Recurring Cash conversion rate Fiscal 2026 before PAT reform in Brazil Fiscal 2026 after PAT reform in Brazil High-single digit including stable Float revenue like-for-like +100bps margin organic expansion Above 80% on average over Fiscal 2024-2026 Stable like-for-like including slightly decreasing Float revenue like-for-like Slight margin organic expansion Around 80% on average over Fiscal 2024-2026
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Group’s action plan around 3 core workstreams as of early January 2026 ©Pluxee – All rights reserved 14 Pluxee’saction plan for navigating regulatory changesin Brazil Operational readiness Engagement with public authorities Legal response • Launch of next-generation open-loop solutions, built and optimized on proven 4C capabilities • Comprehensive client commission renegotiation campaign • Multi-level efficiency plan • Proactive discussions with the Brazilian government, focusing on feasibility, scope and timeframe of the reform • Assessment of the options to challenge the legal foundation of the decree, possibly combining collective and individual actions, within an optimal timeframe November 12, 2025 Publication of the presidential decree introducing regulatory evolutions in Brazil February 10, 2026 +90 days following decree publication • 3.6% cap on merchant discount rate (MDR) • 15-day merchant reimbursement May 11, 2026 +180 days • Migration to an open-loop model (4C) with a 2% merchant commission (interchange fee) November 12, 2027 +360 days • Implementation of interoperability • Transition to a prepaid model for public sector clients Anticipated reform in Brazil assuming presidential decree full implementation within the announced timeframe
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Aurélien Sonet Chief Executive Officer Concluding Remarks ©Pluxee – All rights reserved 15
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04 16©Pluxee – All rights reserved Appendices Outlook Financial Performance Highlights & Key Figures
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17 Appendix #1 Q1 Fiscal 2026 Total Revenues breakdown Unaudited Total Revenues by reported operating segment in million euros Q1 Fiscal 2026 Q1 Fiscal 2025 Organic growth in % change Scope impact in % change Currency effects in % change Reported growth in % change Operating revenue 268 249 9.1% 1.4% (3.0)% 7.5% Float revenue 40 40 8.5% 0.1% (7.8)% 0.8% Total Revenues 308 289 9.0% 1.2% (3.6)% 6.6% Of which: Continental Europe 121 120 (0.4)% 1.9% (0.0)% 1.4% Latin America 131 112 17.2% 1.0% (1.6)% 16.7% Rest of the world 56 58 12.9% - (15.2)% (2.4)% Of which: Employee Benefits 271 249 11.2% 1.4% (3.8)% 8.8% Other products and services 37 40 (4.6)% - (2.5)% (7.1)% 17©Pluxee – All rights reserved
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18 Appendix #2 Q1 Fiscal 2026 Operating Revenue breakdown Unaudited Operating Revenues by region and line of services in million euros Q1 Fiscal 2026 Q1 Fiscal 2025 Organic growth in % change Scope impact in % change Currency effects in % change Reported growth in % change Operating Revenues 268 249 9.1% 1.4% (3.0)% 7.5% Of which: Continental Europe 110 105 2.7% 2.2% (0.0)% 4.9% Latin America 112 98 14.3% 1.1% (1.5)% 13.9% Rest of the world 46 46 12.6% - (12.8)% (0.1)% Of which: Employee Benefits 234 212 11.6% 1.7% (3.1)% 10.2% Other products and services 34 37 (5.7)% - (2.5)% (8.2)% 18©Pluxee – All rights reserved
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19 compared to euro Closing rate as of Nov. 30, 2026 Closing rate as of Nov. 30, 2025 Variation (%) Average rate for Q1 Fiscal 2026 Average rate for Q1 Fiscal 2025 Variation (%) Brazilian real (BRL) 6.18 6.44 4.2 % 6.25 6.15 (1.6)% Pound sterling (GBP) 0.88 0.83 (4.9)% 0.87 0.84 (4.2)% Mexican peso (MXN) 21.22 21.54 1.5 % 21.48 21.61 0.6 % Romanian leu (RON) 5.09 4.98 (2.2)% 5.08 4.98 (2.1)% Turkish lira (TRY) 49.15 36.64 (25.5)% 49.15 36.64 (25.5)% U.S. dollar (USD) 1.16 1.06 (8.7)% 1.16 1.09 (6.5)% 19 Appendix #3 Q1 Fiscal 2026 Exchange Rates ©Pluxee – All rights reserved
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20 CLIENT COMMISSIONS Commissions billed to clients on Business volume issued, when cards, digitally delivered solutions or paper vouchers are issued by the Group MERCHANT COMMISSIONS Commissions billed to merchants on business volume reimbursed when such cards, digitally delivered solutions or paper vouchers are reimbursed by the Group BUSINESS VOLUME ISSUED (BVI) Cumulative value of Benefits issued by the Group on behalf of clients in the form of cards, digitally delivered solutions, and paper vouchers, in respect of which commissions are charged to clients Digitalized business volumes refers to the share of business volume, excluding Public Benefits, delivered through non-paper form factors PORTFOLIO GROWTH Increase in the number of final end-users from an existing client for a given product or service and cross-selling FACE VALUE Amount marked on the cards, digitally delivered solutions or paper vouchers issued by the Group NET RETENTION Measure of Pluxee's ability to retain and expand client base, corresponding to the evolution in business volumes issued, excluding Public Benefits, over the year, resulting from: (i) the increase in average face value, number of end-users, cross-sell, (ii) the impact of client loss, and (iii)the full year impact of last-year cross-sell and loss. It is expressed as a percentage of business volumes issued over the prior year. DEVELOPMENT Annualized business volumes issued generated from the new client contracts, excluding Public Benefits, signed and invoiced for the first time during the period CAPITAL EXPENDITURES “Acquisitions of property, plant and equipment and intangible assets” as shown in the consolidated cash flow statement CAPEX-TO-REVENUE RATIO CAPEX-to-Revenue ratio is calculated by dividing Capital expenditures by Total Revenues. TAKE-UP RATE Ratio between Employee Benefits Operating revenue and business volume issued ©Pluxee – All rights reserved 20 Appendix #4 Key business & financial terms
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21 RECURRING OPERATING PROFIT (RECURRING EBIT) Operating profit (EBIT) before Other operating income and expenses. RECURRING EBITDA Used to assess the performance of reported operating segments and calculated by deducting the impact of amortization, depreciation and impairment of intangible assets, property, plant and equipment, and right-of-use assets relating to leases (as reported in the line Depreciation, amortization and impairment of the consolidated income statement) from the Recurring operating profit (Recurring EBIT) presented in the consolidated income statement. REVENUE AND RECURRING EBITDA ORGANIC GROWTH Growth in the current period, calculated using the exchange rate for the prior fiscal period, and adjusted for the impact in the comparable prior period to include or remove the effect of acquisitions and/or divestitures that have occurred subsequent to that period. RECURRING EBITDA MARGIN Ratio of Recurring EBITDA to Total Revenues. RECURRING EBITDA MARGIN ORGANIC GROWTH Growth in the current period, calculated using the exchange rate for the prior fiscal period, and adjusted for the impact in the current period to include or remove the effect of acquisitions and/or divestitures that have occurred subsequent to the comparable prior period. ADJUSTED NET PROFIT Adjusted net profit serves as the basis for calculating dividend payout ratio. It consists of Net profit (attributable to Group equity holders) restated for the impact of items recognized in Other operating income and expenses, net of related income tax and related non- controlling interest. ADJUSTED BASIC / DILUTED EARNINGS PER SHARE Adjusted basic or diluted earnings per share are calculated by dividing Adjusted net profit (attributable to the equity holders of the parent) by respectively basic weighted average number of shares or diluted weighted average number of shares. ©Pluxee – All rights reserved Appendix #5.1 Key Alternative Performance Measures (APM)
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©Pluxee – All rights reserved 22 RECURRING FREE CASH FLOW Measure of the net cash generated from operations that is available for strategic investments (net of divestments), for financial debt repayment, and for payments of dividends to shareholders. Recurring free cash flow is calculated as Net cash provided by operating activities as shown in the consolidated cash flow statement minus (i) Acquisitions of property, plant and equipment and intangible assets, (ii) Repayments of Lease liabilities and (iii) Restatement of Other operating income and expenses on Net cash from operating activities. RECURRING CASH CONVERSION RATE Measure of the ability of the Group to convert its Recurring EBITDA into Cash. Recurring cash conversion rate consists of the ratio of Recurring free cash flow to Recurring EBITDA. RECURRING LIQUIDITY GENERATED BY OPERATIONS Recurring liquidity generated by operations provides information to measure the net cash generated from operations regardless of the differences in regulations governing the issuance of digitally delivered solutions, cards and paper vouchers. Recurring liquidity generated by operations is calculated as Recurring free cash flow plus the Change in restricted cash related to the Float. NET FINANCIAL (DEBT) / CASH POSITION Net Financial (debt) / cash evaluates the Group's liquidity, capital structure and financial leverage. It consists of gross financial liabilities and lease liabilities, minus the Cash and cash equivalents (net of overdraft) and Current financial assets. FLOAT-RELATED CASH Cash collected from clients in relation to the value loaded on cards or the issuance of digital solutions or paper vouchers, but not yet reimbursed to merchants (Float). Float-related cash is calculated as Value in circulation and related payables minus Net trade receivables related to the float (corresponding to Receivables related to the Float restated from Advances from clients). NON FLOAT-RELATED CASH Non Float-related cash is calculated as Cash, Cash equivalents and Current financial assets excluding the cash collected from clients in relation to business volumes issued. Appendix #5.2 Key Alternative Performance Measures (APM)
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Fiscal 2026 financial calendar April 16, 2026 First half Fiscal 2026 results July 3, 2026 Third quarter Fiscal 2026 revenues October 29, 2026 Annual Fiscal 2026 results December 17, 2026 Annual Shareholders' Meeting 23©Pluxee – All rights reserved
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24 €24 bn Business volume issued as of Fiscal 2025 About Pluxee Pluxee is a global leader in Employee Benefits and Engagement that operates in 28 countries. 5,626 Employees as at August 31, 2025 28 Countries +500,000 Clients +37 million Consumers +1.7 million Merchants For more information: www.pluxeegroup.com Pluxee shapes the world of employee benefit and engagement by creating a personalized and sustainable employee experience at work and beyond. Pluxee helps companies attract and retain talent thanks to a broad range of Benefits and engagement solutions across Meal & Food, Well-being, Reward & Recognition, and Public Benefits. Powered by leading technology and more than 5,626 engaged team members, Pluxee is a trusted partner within a highly interconnected B2B2C ecosystem of more than +500,000 clients, +37 million consumers and +1.7 million merchants. Conducting business for more than 45 years, Pluxee is committed to creating a positive impact on local communities, supporting well- being at work for employees and protecting the planet. ©Pluxee – All rights reserved 24
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pauline.bireaud@pluxeegroup.com Pauline Bireaud Head of investor relations cecilia.depierrebourg@pluxeegroup.com Cécilia de Pierrebourg Chief communication officer 25 16, rue du Passeur de Boulogne 92130 Issy-Les-Moulineaux investors@pluxeegroup.com www.pluxeegroup.com ©Pluxee – All rights reserved 25 IR, Communication and Press contacts
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26 Forward-looking statements This presentation contains forward-looking statements. These forward-looking statements reflect the Group's intentions, current beliefs, expectations and assumptions, including, without limitation, assumptions regarding the Group's future business strategies and the environment in which the Group operates, and involve known and unknown risks, uncertainties and other important factors beyond the Group's control, which may cause the Group's actual results, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include those discussed in Pluxee’s annual report for the 2025 fiscal year, which is available on the Company's website (www.pluxeegroup.com) and the AFM website (www.afm.nl). The forward-looking statements are made as of the date of this presentation and Pluxee Group expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements included in this presentation to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based in France, the United States, or any other jurisdiction. Disclaimer This presentation includes only summary information and does not purport to be comprehensive. No reliance should be placed on the accuracy or completeness of the information or opinions contained in this presentation. This presentation does not contain or constitute an offer of securities for sale or an invitation or inducement to invest in securities in France, the United States, or any other jurisdiction. 26
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