Allane SE

Quarterly Report • May 30, 2025

allane mobility group

Group Quarterly Statement 01 2025

1. Business report

1.1 Note on the provisional nature of the balance sheet figures as of December 31, 2024

The consolidated financial statements of the Allane Mobility Group for the 2024 financial year are still being audited by the auditor at the time of publication of this quarterly statement as of March 31, 2025 and have therefore not yet been audited. For this reason, all balance sheet figures reported as of December 31, 2024 are to be regarded as provisional. They are subject to change during the ongoing audit process.

The provisional balance sheet figures are marked separately statement as of March 31, 2025 (*).

For further information regarding the quarterly statement figures, please refer to the ad hoc announcement published on May 20, 2025.

For further information regarding the provisional balance sheet fo the ad hoc announcement published on April 22, 2025.

1.2 Group business performance

As of 31 March 2025 the Group's contract portfolio inside Germany (excluding franchise and cooperation partners) totalled 149,600 contracts, 4.2% above the figure as of 31 December 2024 (143,500 contracts").

Consolidated revenue increased by 10.8% during the first three months of 2025 to EUR 194.5 million (Q1 2024: EUR 175.5 million) compared to the same period of the previous year. Operating revenue, which does not include the proceeds from vehicle sales, increased by 26.7% to EUR 131.6 million (Q12024: EUR 103.8 million). This development is due to the increase in leasing income (financerate) - particularly in the Captive Leasing business segment. Sales revenues from leasing returns and marketed customer vehicles in Fleet Management decreased by 12.2% to EUR 62.9 million (Q1 2024: EUR 7.7 million). This was mainly the result of a sharp decline in sales volumes and a slight increase in unit prices.

Earnings before interest, taxes, depreciation (EBITDA) increased in the first three months by 36.0% to EUR 96.1 million (Q1 2024: EUR 70.7 million) compared to the same period in the previous year. Earnings before taxes (EBT) increased by EUR 8.6 million (Q1 2024: EUR -4.8 million). The operating return on revenue (EBT/operating revenue) consequently came to 2.9% (Q1 2024: -4.6%).

The significant increase in EBT in the first three months of 2025 is mainly due to the increase in the contract portfolio in the Captive Leasing segment. This positive effect is reinforced by a lower risk provision for residual value risks of leasing assets, which was recognized in the first quarter.

Allane Mobility Group

Q1	01	Change
2025	2024	in %
194.5	175.5	10.8
131.6	103.8	26.7
62.9	71.7	-12.2
96.1	70.7	36.0
3.8	-4.8	>100
2.9	-46	+7.5 points

1.3 Leasing business unit

In the Leasing business unit, which consists of the business segments Fleet Leasing, Online Retail and Captive Leasing, the contract portfolio totalled 101,300 contracts as of the first quarter of 2025. This represents an increase of 7.1% compared to the figure recorded at the end of 2024 (31 December 2024: 94,600 contracts*).mainly due to the new contracts in the Captive Leasing business segment.

	Q1	01	Change
in EUR million	2025	2024	in %
Total revenue	188.2	169.8	10.8
Thereof leasing revenue (finance rate)	96.5	68.3	41.4
Thereof other revenue from leasing business	29.3	30.0	-2.5
Thereof sales revenue	62.4	71.5	-12.7
Earnings before interest, taxes, depreciation and amortisation (EBITDA)	95.0	69.4	36.8
Earnings before interest and taxes (EBIT)	17.9	2.5	>100
Earnings before taxes (EBT)	2.8	-6.1	>100
Operating return on revenue (%)	2.2	-6.2	+8.4 points

Key fiqures Leasing business unit

Earnings before taxes (EBT) in the Leasing segment improved by >100 % to EUR 2.8 million compared to the reporting date (Q1 2024: EUR -6.1 million). This is primarily due to the increase in revenue from leasing contracts, which resulted from an increased contract portfolio, particularly in the Captive Leasing segment. This positive effect was reinforced by the lower risk provisioning in the first quarter compared to the previous year.

1.3.1 Business segment Fleet Leasing

In the Fleet Leasing segment, the contract portfolio remained constant at 31,200 (31 December 2024: 31,400 contracts*).

Key figures Fleet Leasing business segment

	QT	QT	Change
in FUR million	2025	2024	in %
Total revenue	83.0	81.7	1.6
Thereof leasing revenue (finance rate)	34.8	29.3	18.6
Thereof other revenue from leasing business	17.7	192	-7.4
Thereof sales revenue	30.5	33.2	-8.3
Earnings before interest, taxes, depreciation and amortisation (EBITDA)	39.2	35.1	11.6
Earnings before interest and taxes (EBIT)	12.5	9.6	30.8
Earnings before taxes (EBT)	7.6	6.5	16.7
Operating return on revenue (%)	14.4	13.4	+1.0 points

EBT in the Fleet Leasing business segment increased by 16.7% compared to the reporting date. This is mainly due to an increase in revenue and a simultaneous reduction in expenses.

1.3.2 Business segment Online Retail

The Online Retail contract portfolio remained almost constant at 24,300 contracts (31 December 2024: 24,200 contracts*).

Key figures Online Retail business segment

	Q1	Q1	Change
in FUR million	2025	2024	in %
Total revenue	53.3	65.7	-18.9
Thereofleasing revenue (finance rate)	20.9	20.7	1.2
Thereof other revenue from leasing business	7.1	8.2	-13.0
Thereof sales revenue	25.2	36.8	-31.6
Earnings before interest, taxes, depreciation and amortisation (EBITDA)	20.6	19.7	4.7
Earnings before interest and taxes (EBIT)	6.7	2.3	>100
Earnings before taxes (EBT)	2.4	-0.6	>100
Operating return on revenue (%)	8.5	-2.2	+10.7 points

In the Online Retail segment, EBT rose to EUR 2.4 million as at the reporting date (Q1 2024: EUR -0.6 million). This is mainly due to a sharp drop in expenses.

1.3.3 Business segment Captive Leasing

The Captive Leasing contract portfolio increased by 17.4% to 45,800 contracts (31 December 2024: 39,000 contracts").

Key figures Captive Leasing business segment

	Q1	(11	Change
in EUR million	2025	2024	in %
Total revenue	51.9	22.3	>100
Thereof leasing revenue (finance rate)	40.8	18.2	>100
Thereof other revenue from leasing business	4.4	2.7	64.3
Thereof sales revenue	6.7	1.4	>100
Earnings before interest, taxes, depreciation and amortisation (EBITDA)	35.1	14.6	>100
Earnings before interest and taxes (EBIT)	-1.4	-9.4	-85.6
Earnings before taxes (EBT)	-7.2	-12.0	-39.4
Operating return on revenue (%)	-16.0	-57.1	+41.1 points

The continued strong increase in the contract portfolio in the Captive Leasing segment resulted in a significant increase in revenue compared to the reporting date. EBT is burdened by high risk provisions and increased expenses but has improved significantly compared to the previous year.

1.4 Fleet Management business unit

In the Fleet Management business unit, the contract portfolio was down 1.3% year-on-year at the end of the first quarter of 2023 to 48.200 contracts (31 December 2024: 48.900 contracts). This slight decline is mainly due to expired and nonrenewed fleet management contracts. The business division only comprises the operating business segment of the same name, Fleet Management.

Key figures Fleet Manaqement business unit

in EUR million	Q1 2025	Q1 2024	Change in %
Total revenue	6.3	5.8	9.7
Thereoffleet management revenue	5.8	5.5	4.3
Thereof sales revenue	0.5	0.2	>100
Earnings before interest, taxes, depreciation and amortisation (EBITDA)	1.2	1.4	-12.7
Earnings before interest and taxes (EBIT)	1.2	1.3	-12.5
Earnings before taxes (EBT)	1.1	1.3	-14.7
Operating return on revenue (%)	19.0	23.2	-4.2 points

The decline in earnings before taxes (EBT) in the Fleet Management business unit is due in particular to slight increased expenses, while sales increased only slightly at the same time.

1.5 Financial position

Equity development

As of 31 March 2025 Allane Mobility Group's equity totalled EUR 190.9 million. This represents an increase of EUR 2.5 million or 1.3% compared to the previous year (31 December 2024: EUR 188.4 million*). The equity ratio decreased by 0.2 percentage points to 7.5% (31 December 2024: 7.7%*), which is due to the increase in total assets. The increase in total assets is primarily the result of an increase in leased assets compared to December 31, 2024, which is mainly financed by borrowed capital.

Development of debt capital

As of 31 March 2025, the Allane Mobility Group reported non-current liabilities and provisions of EUR 1755.2 million (31 December 2024: EUR 1,728.9 million; +1.5 %*). The increase of EUR 26.4 million was mainly due to an increase in noncurrent financial liabilities of EUR 28.7 million (31 December 2024: EUR 1.656.0 million; +1.7%*).which was mainly due to the borrowing of EUR 79.2 million as part of the asset-backed securities program ("ABS program") and the repayment of a long-term loan from Santander Consumer Bank AG in the amount of EUR 50.0 million.

Current liabilites and provisions as of 31 March 2025 totalled EUR 605.6 million (31 December 2024: EUR 523.8 million*). The increase of EUR 81.8 million or 15.6% resulted particular from a EUR 79.2 million increase in current financial liabilities to EUR 396.1 million (31 December 2024: EUR 316.8 million*), from the increase in current financial liabilities, which rose by EUR 79.2 million euros to EUR 396.1 million euros (31 December 2024: EUR 316.8 million euros*). This is mainly due to taking out loans from third-party banks in the amount of EUR 57 million. In addition, accounts payable decreased by EUR 27.8 million or 27.2% to EUR 74.5 million (31 December 2024: EUR 102.3 million*). In contrast, other liabilities increased by EUR 11.5 million euros to 70.1 million euros (31 December 2024: EUR 58.6 million euros*).

1.6 Investments

In the first three months of 2025, the Allane Mobility Group added vehicles with a total value of EUR 217,7 million (Q1 2024: EUR 263,9 million; -17,5 %) to the leasing assets. This is mainly due to a decline in order volume compared to the same quarter of the previous year, particularly in the Online Retail and Fleet Leasing business segments.

2. Events subsequent to the reporting date

After the reporting date of March 31, 2025, Allane SE concluded a loan agreement with its majority shareholder, Hyundai Capital Bank Europe GmbH, for a subordinated shareholder loan in the amount of EUR 26 million. Apart from this, there were no events of particular significance for the net assets, financial position and results of the Group and the company occurred after the end of the first quarter of the 2025 financial year.

3. Report on outlook

For the 2025 financial year the Managing Board expects a contract portfolio in the range of 150,000 to 170,000 contracts (2024: 143,500 contracts*) and consolidated operating sales of EUR 570 to 620 million (2024: EUR 457.6 million*). The Managing Board expects EBT to be in the low double-digit million euro range (2024: EUR -49.3 million*).

The Allane Mobility Group's forecast for the 2025 financial year is based on moderate macroeconomic development and industry-specific trends. The company expects only a slight increase in gross domestic product in Germany, while the market environment is likely to remain largely stable. An important factor for the operating business is the development of interest rates. The decline in interest rates should have a positive impact on the leasing business.

The Allane Mobility Group also expects a slight increase in new car registrations in 2025, which should benefit fleet leasing and indirectly fleet management in particular - not least because a high proportion of registrations are attributable to commercial fleets. The captive leasing segment is also likely to benefit from the trend, as it is closely linked to Hyundai and Kia vehicle sales in Germany. Both brands are firmly established in the market and offer a wide range of models across various drive types. In addition, the Allane Mobility Group's contract portfolio will be continuously expanded regardless of market developments due to the existing contract terms. A general increase in new registrations should also have a positive impact on business in the Online Retail segment.

In addition, used car sales in Germany are expected to increase in 2025. This development could facilitate the marketing of lease returns and have a positive impact on the Allane Mobility Group's operating result.

4. Financial information of the Allane Mobility Group as at 31 March 2025

4.1 Consolidated income statement and statement of comprehensive income

Consolidated Income Statement

	Q1	Q1
in EUR thou.	2025	2024
Revenue	194,479	175,513
Other operating income	2,158	1,840
Fleet expenses and cost of lease assets	77,912	85,905
Personnel expenses	14,861	14,629
Net losses arising from the derecognition of financial assets	846	433
Net impairment losses (-)/gain (+) from financial assets	-541	208
Other operating expenses	6,357	5,853
Earnings before interest, taxes, depreciation and amortisation (EBITDA)	96,120	70,742
Depreciation and amortisation	77,055	66,941
Earnings before interest and taxes (EBIT)	19,066	3,801
Net finance costs	-15,219	-8,623
Earnings before taxes (EBT)	3,847	-4,822
Income tax expense (Expense; PY: Income)	1,077	-1,150
Consolidated profit	2,770	-3,672
Of which attributable to shareholders of Allane SE	2,770	-3,672
Earnings per share - basic and diluted (in Euro)	0.13	-0.18

Consolidated statement of comprehensive income

	Q1	Q1
in EUR thou.	2025	2024
Consolidated profit	2,770	-3,672
Other comprehensive income (not recognised in the income statement)	-270	বা
Thereof components that could be reclassified to income statement in the future
Currency translation gains/losses	-71	-722
Change in derivative financial instruments designated as hedge accounting	-199	031
Related deferred taxes		-205
Total comprehensive income	2,500	-3,668
Of which attributable to minority interests	-199	726
Of which attributable to shareholders of Allane SE	2,699	-4,394

4.2 Consolidated balance sheet

Assets

in EUR thou.	31.03.2025	31.12.2024*
Non-current assets
Goodwill	4,134	4,134
Intangible assets	18,076	18,873
Property and equipment	38,127	38,958
Lease assets	2,206,534	2,114,410
Financial assets	29	28
Other receivables and assets	3,813	5,825
Deferred tax assets	2,144	2,144
Total non-current assets	2,272,857	2,184,371
Current assets
Inventories	35,687	36,547
Trade receivables	114,321	105,182
Receivables from related parties	39,882	60,675
Other receivables and assets	49,590	44,063
Income tax receivables	2,033	2,155
Bank balances	37,371	8,077
Total current assets	278,884	256,700
Total assets	2,551,740	2,441,071
Equity and liabilities
in EUR thou.	31.03.2025	31.12.2024*
Equity
Subscribed capital	20,612	20,612
Capital reserves	135,045	135,045
Other reserves	41,559	38,860
Minority interests	-6,272	-6,073
Total equity	190,944	188,443
Non-current liabilities and provisions
Provisions for pensions	127	128
Other provisions	226	226
Financial liabilities	1,684,705	1,655,982
Liabilities to related parties
Other liabilities	51,077	53,568
Deferred tax liabilities	19,074	18,950
Total non-current liabilities and provisions	1,755,209	1,728,854
Current liabilities and provisions
Other provisions	4,394	4,396
Income tax liabilities	4,332	4,381
Financial liabilities	396,087	316,846
Trade payables	74,509	102,296
Liabilities to related parties	27,769	11,053
Contract Liabilities	28,445	26,202
Other liabilities	70,052	58,600
Total current liabilities and provisions	605,588	523,774
Total equity and liabilities	2,551,740	2,441,071

4.3 Consolidated cash flow statement

Consolidated cash flow statement

	Q1	Q1
in EUR thou.	2025	2024
Operating activities
Consolidated profit	2,770	-3,672
Income taxes recognised in income statement	ರಿಕೆ ತ	768
Erhaltene Ertragssteuern
Gezahlte Ertragssteuern	-879	-754
Financial result recognised in income statement2	15,219	8,623
Interest received	1,497	100
Interest paid	-14,394	-5,134
Depreciation and amortisation	77,055	66,941
Income from disposal of fixed assets	-10,148	-9,648
Other (non-)cash expenses and income	1,927	-1,265
Gross Cash flow	74,000	55,959
Proceeds from disposal of lease assets	60,134	68,980
thereof leasing assets	59,969	68,536
thereof fixed assets	165	445
Payments for investments in lease assets	-217,662	-263,864
Change in inventories	860	2,961
Change in trade receivables	-9,138	-3,384
Change in trade payables	-27,787	-2,065
Change in other net assets	45,077	17,748
Net cash flows from/used in operating activities	-74,516	-123,665
Investing activities
Proceeds from disposal of intangible assets and equipment	7
Payments for investments in intangible assets and equipment	-1,619	-2,287
Net cash flows used in investing activities	-1,612	–2,287
Financing activities
Dividends paid
Proceeds from bank loans (incl. ABS-transaction)2	99,872	350,864
Payments made for redemption of bank loans (incl. ABS-transaction)3	-40,724	-151,046
Payments made for / proceeds from short-term financial liabilities4.5.6	47,000	-72,667
Net cash flows used in/from financing activities	106,148	127,151
Net change in cash and cash equivalents	30,020	1,200
Effect of exchange rate changes on cash and cash equivalents	-21	-17
Cash and cash equivalents at 1 January	7,372	5,187
Cash and cash equivalents at 31 March	37,371	6,369

1 Without investment income

² Proceeds from bank loans (incl. ABS-transaction) include proceeds from the in the anount of EUR 0 thousand (Q1 2024: EUR 70,000 thousand).
3 Payments for the repayment of bonds, promissory note loans and bank loans (incl. ABS-transaction) include payments for the repayment of financin

affiliated companies in the amount of EUR 40.000 thousand (Q1 2024: EUR 0 thousand).

4 This includes proceeds from the borrowing of financing from affiliated companies in the amount of EUR 0 thousand) and payments from the repayment of financing from affiliated companies in the amount of EUR O thousand).

§ Short-term financing with terms of up to three months and a high turnover rate.

4.4 Supplementary financial information

Sales revenue

Sales are broken down as follows:

Revenue

	Q1	Q1	Change
in EUR thou.	2025	2024	in %
Leasing Business Unit
Thereof leasing revenue (finance rate)	96,500	68,251	41.4
Thereof other revenue from leasing business	29,294	30,044	-2.5
Thereof sales revenue	62,364	71,456	-12.7
Total	188,159	169,750	10.8
Fleet Management Business Unit
Thereof fleet management revenue	5,775	5,539	4.3
Thereof sales revenue	546	224	>100
Total	6,321	5,763	9.7
Group total	194,479	175,513	10.8

Expenses for vehicle fleet and leased assets

The expenses for the vehicle fleet and leased assets are broken down as follows:

Fleet expenses and cost of lease assets

	Q1	Q1	Change
in EUR thou.	2025	2024	in %
Selling expenses1	52,694	61,917	-14.9
Repair, maintenance and reconditioning	14,587	14,444	1.0
Fuel	81	101	-20.0
Vehicle licenses and deregistration	4,233	3,806	11.2
External rent expenses	81	204	-60.1
Insurance	1,986	1,566	26.9
Taxes and dues	15	39	-61.5
Vehicle return expenses	1,145	818	40.0
Transportation	589	895	-34.2
Radio license fees	0	-0	-
Other expenses	2,501	2,116	18.2
Group total	77,912	85,905	-9.3

1 This includes impairment losses on leased assets held for sale.

Depreciation and amortization

Depreciation and amortization are explained in more detail below:

Depreciation and amortisation

Property and equipment	1,353	1,401	-3.4
Intangible assets	1,827	1,819	0.5
	77,055	66,941	15.1

Other operating expenses Other operating expenses break down as follows:

Other operating expenses

കവിവ വർഗ്ഗമന്ധി സ്വാവസ്ഥമാ in EUR thou.	Q1 2025	Q1 2024	Change in %
Expenses for buildings	460	404	13.7
Other selling and marketing expenses	216	596	-63.7
Audit, legal, advisory costs, and investor relations expenses	1,173	767	53.0
Other personnel services	550	635	-13.3
IT expenses	2,594	2,433	6.6
Expenses for foreign currency translation	13	205	-93.8
Miscellaneous expenses	1,352	813	66.4
Group total	6,357	5,853	8.6

Financial result

The financial result is as follows:

Net finance costs

Group total	-15,219	-8,623	76.5
Other net financial income/loss
Interest and similar expenses for related parties1	-7,277	-5,702	27.6
Interest and similar expenses	-8,550	-3,016	>100
Other interest and similar income from related parties	23	18	31.2
Other interest and similar income	285	77	>100
in EUR thou.	2025	2024	in %
	Q1	Q1	Change

1 Interest and similar expenses to related parties mainly include interest provisions for the loan obligations to Santander
Consumer Bank AG.

Group segment reporting

The segment information for the first quarter of 2025 (compared to the previous year) is as follows:

By Operating Segments		Fleet Leasing		Online Retail		Captive Leasing
in EUR million	Q1 2025	Q1 2024	Q1 2025	Q1 2024	Q1 2025	Q1 2024
External revenue	83.0	81.7	53.3	65.7	51.9	22.3
Internal revenue	0.0	0.0
Total revenue	83.0	81.7	53.3	65.7	51.9	22.3
Other operating income	1.1	1.0	0.7	0.4	0.7	0.3
Fleet expenses and cost of lease assets	36.6	39.4	27.3	39.6	10.7	3.8
Personnel expenses	5.0	5.4	3.7	4.5	4.1	2.7
Net losses arising from the derecognition of
financial assets	0.4	0.3	0.4	0.1	0.1	0.0
Net impairment expenses (-)/ income (+) from
financial assets	0.3	-0.2	-0.1	0.1	0.3	-0.1
Other operating expenses	2.8	2.7	2.0	2.2	2.4	1.6
EBITDA1	39.2	35.1	20.6	19.7	35.1	14.6
Depreciation and amortization	26.6	25.5	13.9	17.4	36.5	24.0
EBIT2	12.5	9.6	6.7	2.3	-1.4	-9.4
Interest income	0.2	0.1	0.1	0.1	0.4	0.0
Interest expenses	-5.1	-3.2	-4.4	-3.0	-6.3	-2.6
Other net financial income	0.0	-0.0	0.0	-0.0	0.0	-0.0
Net finance costs	-5.0	-3.1	-4.3	-2.9	-5.9	-2.5
EBT3	7.6	6.5	2.4	-0.6	-7.2	-12.0
Lease assets	647.8	530.6	519.0	520.1	1,039.7	495.2

By Operating Segments	Fleet Management		Consolidation			Group
in EUR million	Q1 2025	Q1 2024	Q1 2025	Q1 2024	Q1 2025	Q1 2024
External revenue	6.3	5.8			194.5	175.5
Internal revenue		0.0	-0.0	-0.0
Total revenue	6.3	5.8	-0.0	-0.0	194.5	175.5
Other operating income	0.4	0.9	-0.7	-0.8	2.2	1.8
Fleet expenses and cost of lease assets	3.4	3.2	0.0	0.0	77.9	85.9
Personnel expenses	2.2	2.1			14.9	14.6
Net losses arising from the derecognition of financial assets	0.0	0.0			0.8	0.4
Net impairment expenses (-)/ income (+) from financial assets	0.0	0.0			0.5	-0.2
Other operating expenses	-0.0	0.1	-0.8	-0.8	6.4	5.9
EBITDA1	1.2	1.4	-0.0	-0.1	96.1	70.7
Depreciation and amortization	0.0	0.0			77.1	66.9
EBIT2	1.2	1.3	-0.0	-0.1	19.1	3.8
Interest income	0.0	0.0	0.1	0.0	0.6	0.1
Interest expenses	-0.1	-0.0	-0.1	-0.0	-15.8	-8.7
Other net financial income					0.0	-0.0
Net finance costs	-0.1	-0.0	-0.0	0.0	-15.2	-8.6
EBT3	1.1	1.3	-0.0	-0.1	3.8	-4.8
Lease assets					2,206.5	1,546.0

1 Corresponds to earnings before interest, taxes, depreciation and amortization (EBITDA).
² Corresponds to the result from operating activities (EBIT).
³ Corresponds to

Due to rounding, it is possible that individual figures in this Group Quarterly Statement may not add up exactly to the totals provided . It is also possible that the percentages shown do not exactly reflect the absolute figures to which they relate.

Pullach, 30 May 2025

Allane SE The Managing Board

Allane SE Dr.-Carl-von-Linde-Straße 2 82049 Pullach Germany

Contact Investor Relations Phone +49 89 / 70 80 81610

ir@allane.com https://ir.allane-mobility-group.com