Allane SE

Investor Presentation • May 19, 2021

Sixt Leasing SE Q1 2021 Update

19 May 2021

Disclaimer

This presentation contains certain forward-looking statements relating to the business, financial performance and results of the Sixt Leasing SE (together with its subsidiaries, the "Company") and/or the industry in which the Company operates. Forward-looking statements, regardless if made orally or in writing, concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes," "expects," "predicts," "intends," "projects," "plans," "estimates," "aims," "foresees," "anticipates," "targets," and similar expressions. Forward-looking statements, including assumptions, opinions and views of the Company or cited from third party sources, are solely opinions and forecasts which are uncertain and subject to risks. Actual events may differ significantly from any anticipated development due to a number of factors, including without limitation, changes in general economic conditions, in particular economic conditions in the Company's target markets, changes affecting interest rate levels, changes in competition levels, changes in laws and regulations, environmental damages, the potential impact of legal proceedings and actions and the Group's ability to achieve operational synergies from past or future acquisitions. The Company does not guarantee that the assumptions underlying forward-looking statements, regardless if made orally or in writing, are free from errors nor does it accept any responsibility for the future accuracy of opinions or any obligation to update the statements in this presentation to reflect subsequent events. Forward-looking statements are made only as of the date hereof. Neither the delivery of this presentation nor any further discussions of the Company with any of the recipients thereof shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date. Consequently, the Company does not undertake any obligation to review, update or confirm investors' expectations or estimates or to release publicly any revisions to any forwardlooking statements to reflect events that occur or circumstances that arise in relation to the content of the presentation.

Furthermore, a totally different performance can ensue from an unexpected slump in demand or economic stagnation in our key market Germany and/or in other Western European markets. The actual development can differ materially from the forecasts made in this presentation, in case one of the aforementioned risks or other risks not mentioned here should materialize and/or the assumption on which we have based our forecasts and prospects turn out to be wrong.

This presentation contains summary information only and does not purport to be comprehensive and is not intended to be (and should not be used as) the basis of any analysis or other evaluation. In addition, the information in this presentation is subject to change. No representation or warranty (express or implied) is made as to, and no reliance should be placed on, any information, including projections, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein.

Due to rounding, individual figures in this presentation may not always add up to the total figure.

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Agenda
A	KPIs AND HIGHLIGHTS Q1 2021	03
B	FINANCIALS Q1 2021	06
C	OUTLOOK	11
D	APPENDIX	14

Sixt Leasing Group's contract portfolio Q1 2021 with 128,100 contracts 1.4% below end of 2020 especially due to Covid-19 effects

1) Excluding 1&1/Peugeot campaign in 2017

2) Due to rounding it is possible that selected figures do not add up to the overall amount recorded

Business development Q1 2021 in line with expectations – Contract portfolio slightly and EBT very sharply below previous year

	Q1 2021	Q4 2020	Change vs. Q4 2020
Group contract portfolio1)	128,100	129,900	-1.4%
Online Retail §	37,800	38,600	-2.3%
§ Fleet Management	53,900	53,500	0.7%
Fleet Leasing §	36,500	37,800	-3.5%
Financials	Q1 2021	Q1 2020	Change vs. Q1 2020
Operating revenue	EUR 97.7 m	EUR 114.3 m	-14.5%
EBITDA	EUR 47.2 m	EUR 56.3 m	-16.1%
EBT	EUR 1.0 m	EUR 5.6 m	-82.5%
Operating return on revenue	1.0%	4.9%	-3.9pp
Equity ratio	16.6%	16.4%	0.2pp

1) Due to rounding it is possible that selected figures do not add up to the overall amount recorded

Agenda
A	KPIs AND HIGHLIGHTS Q1 2021		03
B	FINANCIALS Q1 2021		06
C	OUTLOOK		11
D	APPENDIX		14
			6

EBT Q1 2021 very sharply below Q1 2020 besides effects from Covid-19 mainly due to transaction-related costs

Sixt Leasing Group – Key performance indicators 2017 – Q1 20211)

7

1) Due to rounding it is possible that selected figures do not add up to the overall amount recorded

2) Including leasing contracts, fleet management contracts, service contracts and order book (contracts for which the leased vehicle has not yet been delivered to the customer)

3) The sum of leasing revenue (i.e. the finance rate, being the financing portion, consisting of interest and depreciation, of the agreed lease instalment) and other revenue from leasing business of the

Leasing business unit as well as fleet management revenue from the Fleet Management business unit

4) The ratio of earnings before taxes (EBT) to operating revenue

5) Earnings before interest, taxes, depreciation and amortisation

EBT decrease on Group level mainly due to very significantly lower EBT in Leasing business unit

EBT development of Sixt Leasing Group and business units Q1 2017 – Q1 20211)

1) Due to rounding it is possible that selected figures do not add up to the overall amount recorded 2) Ratio of EBT to operating revenue

3) EBITDA = Earnings before interest, taxes, depreciation and amortization

Lease assets of approx. EUR 1.1 bn – Equity ratio up 0.2 ppts due to higher equity and lower total assets

Sixt Leasing Group – Development of key balance sheet figures 2016 – 2020

1) Due to rounding it is possible that selected figures do not add up to the overall amount recorded

2) Including liabilities to related parties until 2017

3) Bank balances / cash

Well balanced financing profile – Increased focus on intercompany funding from Santander Consumer Bank AG (SCB) and ABS

Sixt Leasing Group – Maturities of financial liabilities as of 31 March 2021 [EUR m]

LIABILITIES1) FINANCIAL	2021	2022	2023	2024	2025+	Total	KEY FINANCING INSTRUMENTS
Asset backed securities (ABS) programme	135.5	148.9	124.7	65.5	7.2	481.8
SCB loans	50.0	50.0	20.0	30.0	-	150.0	from 3rd party banks
Bank loans	7.0	-	-	-	-	7.0
Bonds2)	-	250.0	-	-	-	250.0
Finance leases and others	8.0	2.3	2.1	1.8	11.6	25.8
Total	200.5	451.2	146.8	97.3	18.8	914.6
Bank balances						2.7
Net debt						911.9

KEY FINANCING

§ EUR 500 m ABS programme

§ ~ EUR 190 m bilateral credit lines from 3rd party banks

1) Nominal repayment amounts; excluding future accrued interest; due to rounding it is possible that individual figures may not exactly add up to the total amount 2) Bond 2018/22 is first bond under the debt issuance programme

Agenda
A	KPIs AND HIGHLIGHTS Q1 2021	03
B	FINANCIALS Q1 2021	06
C	OUTLOOK	11
D	APPENDIX	14
		11

Cautious forecast for 2021 confirmed, taking into account the operating business development to date and the Covid-19 situation

	2021	2020
Contract portfolio
Group	Slight increase	129,900 contracts
Financials
Operating revenue	In the range of previous year's figure	EUR 423.3 m
EBT	Higher single-digit million euro amount	EUR 9.1 m

• § Sixt Leasing assumes that the market and business environment will continue to be strongly negatively impacted by the COVID-19 pandemic and expects a recovery in business development in the second half of 2021 at the earliest
• § In addition, consolidated earnings will also be burdened in the 2021 financial year by transaction-related costs in connection with the takeover of the company by HCBE

Zugspitzstrasse 1 Stefan Vogel

ADDRESS INVESTOR RELATIONS

Sixt Leasing SE Sixt Leasing SE 82049 Pullach T: +49 89 74444 4518 Germany F: +49 89 74444 85169 Email: ir@sixt-leasing.com

Agenda
A	KPIs AND HIGHLIGHTS Q1 2021	03
B	FINANCIALS Q1 2021	06
C	OUTLOOK	11
D	APPENDIX	14
		14

Sixt Leasing Group: Revenue and earnings performance Q1 20211)

in EUR million	Q1 2021	Q1 2020	Change in %
Operating revenue	97.7	114.3	-14.5
Sales revenue	89.0	85.0	4.7
Consolidated revenue	186.7	199.3	-6.3
thereof Leasing business unit	161.7	169.6	-4.7
thereof Fleet Management business unit	25.0	29.7	-15.9
Fleet expenses and cost of lease assets	120.8	128.6	-6.1
Personnel expenses	12.8	10.2	26.3
Net other operating income/expense	-5.8	-4.2	-38.2
EBITDA	47.2	56.3	-16.1
Depreciation and amortisation	44.5	47.9	-7.1
Net finance costs	-1.8	-2.8	37.4
EBT	1.0	5.6	-82.5
Operating return on revenue2)	1.0%	4.9%	-3.9 points
Income tax	0.4	1.8	-79.3
Consolidated profit	0.6	3.8	-84.0
Earnings per share (in EUR)	0.03	0.18	-

1) Due to rounding it is possible that selected figures do not add up to the overall amount recorded 2) Ratio of EBT to operating revenue

Sixt Leasing Group: Further KPIs Q1 20211)

	31 Mar 2021	31 Dec 2020	Change in %
Group contract portfolio	128,100	129,900	-1.4
thereof Online Retail	37,800	38,600	-2.3
thereof Fleet Leasing	36,500	37,800	-3.5
thereof Fleet Management	53,900	53,500	0.7
in EUR million
Total equity and liabilities	1,283.5	1,295.6	-0.9
Lease assets	1,071.1	1,092.5	-2.0
Bank balances	2.7	2.4	12.3
Financial liabilities	917.3	935.9	-2.0
Equity	213.6	212.9	0.3
Equity ratio (%)	16.6	16.4	+0.2 points
	Q1 2021	Q1 2020
Gross cash flow	36.8	49.3	-25.3
Investments in lease assets	89.0	120.4	-26.1

1) Due to rounding it is possible that selected figures do not add up to the overall amount recorded