Allane SE — Investor Presentation 2023

Aug 24, 2023

ALLANE SE Q2 2023 Update

24 August 2023

Disclaimer

This presentation contains certain forward-looking statements relating to the business, financial performance and results of the Allane 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 forward-looking 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.

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

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Agenda

KPIs and Highlights Q2 2023

Financials H1 2023 02

Outlook 03

04 Appendix

01 KPIs and Highlights Q2 2023

Allane Mobility Group's contract portfolio end of Q2 2023 with 116,400 contracts, 0.5% above December 2022

STRONG CONTRACT GROWTH SINCE 2011

ONLINE SHARE IN NEW BUSINESS

[Percentage of Online Retail new contracts out of total Leasing new contracts]2)

WELL DIVERSIFIED CONTRACT PORTFOLIO3)

1) Founded as Sixt Mobility Consulting

2) Excluding 1&1/Peugeot campaign in 2017

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

4) Retail Leasing includes Online Retail & Captive Leasing

Business development Q2 2023 – Operating revenue down 0.7%, EBT at previous year's level

	Q2 2023	Q4 2022	Change
Group contract portfolio1)	116,400	115,900	0.5%
§ Retail Leasing	37,400	35,300	6.1%
§ Fleet Management	45,800	47,000	-2.6%
§ Fleet Leasing	33,200	33,600	-1.0%
Financials	H1 2023	H1 2022	Change
Operating revenue	EUR 192.0m	EUR 193.3m	-0.7%
EBITDA	EUR 98.5m	EUR 92.9m	6.1%
EBT	EUR 6.9m	EUR 6.9m	-0.1%
Operating return on revenue	3.6%	3.6%	0.0 pp
Equity ratio	18.2%	19.3%	-1.1 pp

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

Financials H1 2023

ALLANE MOBILITY GROUP – KEY PERFORMANCE INDICATORS 2019 TO H1 20231

EBT with EUR 6.9m at previous year's level, burdened by higher refinancing costs resulting from increased interest rates

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) Ratio of earnings before taxes (EBT) to operating revenue

5) Earnings before interest, taxes, depreciation and amortisation

8

ALLANE MOBILITY GROUP – DEVELOPMENT OF EBT AND BUSINESS UNITS H1 2019 – H1 20231

Group EBT comprises EUR 6.7m (-0.3%) from the Leasing business unit and EUR 0.2m (+5.0%) from Fleet Management

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

ALLANE MOBILITY GROUP – DEVELOPMENT OF KEY BALANCE SHEET FIGURES 2019 TO H1 2023

Lease assets stable at around EUR 1.0bn – Equity ratio down 1.1 ppts compared to 2022 due to an increase in leasing assets of EUR 81m

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

ALLANE MOBILITY GROUP – MATURITIES OF FINANCIAL LIABILITIES AS OF 30 JUNE 2023 [EUR M]

Well balanced financing maturity profile – increased focus on funding from Santander Consumer Bank AG (SCB)

FINANCIAL LIABILITIES1)	2023	2024	2025	2026	2027+	Total
Asset backed securities (ABS) programme	68.0	85.3	25.0	1.9	0.1	180.3
SCB loans	80.0	120.0	70.0	110.0	250.0	630.0
Bank loans	16.0	-	-	-	-	16.0
Bonds2)	-	-	-	-	-	0.0
Finance leases and others	3.3	6.4	5.6	4.9	48.4	68.7
Total						895.1
Bank balances						2.6
Net debt						892.4

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

11

Forecast for 2023: Return to the growth path expected – with an increase of the contract portfolio to up to 150,000 contracts

	2023	2022
Contract portfolio
Group	In a range between 120,000 and 150,000 contracts	115,900 contracts
Financials
Operating revenue	In a range between EUR 350m and EUR 400m	EUR 385.4m
EBT	Low double-digit million euro amount	EUR 12.8m

• § Allane assumes that, in addition to the operating business development in the current financial year to date, the market and business environment for new contracts and usage-based revenues will continue to be negatively impacted by the high interest rate and inflation levels, the expected gradual normalisation of new car supply restrictions and the potential impact of the Russia-Ukraine war.
• § However, through additional cooperations in the leasing sector, especially in the captive leasing sector, the company expects a positive development in new contracts and usage-based sales.
• § Allane expects the positive business development to accelerate in H2 2023 due to the dynamics of the described collaborations.

Allane Mobility Group: Revenue and earnings performance H1 20231)

EUR million in	H1 2023	H1 2022	Change in %
Operating revenue	192.0	193.3	-0.7
Sales revenue	185.8	177.9	4.5
Consolidated revenue	377.8	371.2	1.8
thereof Leasing business unit	315.3	303.6	3.9
thereof Fleet Management business unit	62.5	67.7	-7.6
Fleet expenses and cost of lease assets	239.2	234.2	2.1
Personnel expenses	28.2	25.8	3.2
Net other operating income/expense	-10.3	-16.8	+38.3
EBITDA	98.5	92.9	6.1
Depreciation and amortization	86.9	84.4	3.0
Net finance costs	-4.7	-1.6	> -100
EBT	6.9	6.9	-0.1
on revenue (%)2) Operating return	3.6	3.6	0.0 points
Income tax	2.5	2.1	16.9
Consolidated profit	4.4	4.8	-7.8
Earnings per share (in EUR)	0.21	0.23	-

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

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