Allane SE — Investor Presentation 2024

Aug 23, 2024

ALLANE SE
Q2 2024 Update

23 August 2024
allane mobility group

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.

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

01 KPIs and Highlights Q2 2024

02 Financials H1 2024

03 Outlook

04 Appendix

01 KPIs and Highlights 022024

Group contract portfolio amounted to 133,800 contracts as of 30 June 2024, up 6.0\% on the figure as of 31 December 2023 (125,800 contracts)

CONTRACT VOLUME INCREASES

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023 Q2-24

RETAIL LEASING SHARE IN NEW BUSINESS

1) Founded as Sivt Mobility Consulting
2) Due to rounding it is possible that selected figures do not add up to the overall amount recorded
3) Retail Leasing includes Online Retail \& Captive Leasing

WELL DIVERSIFIED CONTRACT PORTFOLIO2)

Portfolio Q2-24
[# contracts in '000]

Sivt nowsages - Retail Leasing ${ }^{3}$ ) - Private and commercial customers

• Classic leasing and vario-financing + services
• One-stop-online-shop with $>30$ brands at choice

allane mobility consulting - Fleet Management

• Mid-sized and large corporates
• Fleet management and consulting
• Optimisation of total cost of ownership

allane fleet - Fleet Leasing

• SMEs + large corporates
• Full-service leasing
• Optimisation of total cost of ownership

Consolidated operating revenue increased by $17.6 \%$ to EUR 359.5m (H1 2023: EUR 305.7m), EBT decreased to EUR -11.4m (H1 2023: EUR 6.9m)

	Q2 2024	Q4 2023	Change (in \%)
Contract portfolio (incl. order book) ${ }^{1)}$
Allane Mobility Group	133,800	125,800	6.0
Retail Leasing	53,700	43,600	23.1
Fleet Leasing	32,400	33,700	$-3.8$
Fleet Management	47,700	48,500	$-1.6$
Financials (in EUR million)	H1 2024	H1 2023	Change (in \%)
Operating revenue	359.5	305.7	17.6
EBITDA	147.7	98.5	49.8
EBT	$-24.6$	6.9	$>-100.0$
Operating return on revenue (\%)	$-11.4$	4.4	$-15.8$ points

02
Financials H1 2024

EBT decreased to EUR -11.4m (H1 2023: EUR 6.9m), due to extraordinary depreciation on leased assets caused by negative market value developm.

Group and Leasing-EBT negatively impacted by extraordinary depreciation, Fleet Management $>100 \%$ above previous year

GROUP EBT [EUR m]

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
4) According to IFRS 15 in FY 2023 change from revenue recognition as a Principal (gross-basis) to an Agent (net-basis) (adjusted values for Q1 2023)

Leased assets over EUR 1.7bn - Equity decreased by EUR 20.3m or 8.5\% compared to FY 2023. Equity ratio fell by 3.6 percentage points to 10.6\%

TOTAL ASSETS $[E U R m]^{1)}$

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
3) Bank balances / cash

Balanced maturity profile of the financing

FINANCIAL LIABILITIES
(in EUR m)	2024	2025	2026	2027	2028+	Total
Asset backed securities (ABS) programme	62.9	106.4	148.1	183,7	102,4	603.5
SCB loans	-	70.0	230.0	260.0	200.0	760.0
Bank loans	155.0	-	-	-	-	155.0
Total						1,518.5
Bank balances						21.4
Net debt						1,497.1

KEY FINANCING INSTRUMENTS

ABS:

• The ABS transaction was reactivated in December 2023 and the revolving period runs until November 2024
• Up to EUR 700 million commitment to be adjusted on monthly basis to minimize commitment fees
• Expectation of reaching the maximum commitment of EUR 700 million in August
• The aim is to increase the ABS on the basis of the current price conditions
• Contact initiated with a third bank in addition to the existing banks Commerzbank and LBBW for a possible increase of the ABS transaction by a further EUR 350 million

03 Outlook

Forecast for 2024: Return to the growth path expected with an increase of the contract portfolio up to 130,000 to 150,000 contracts

Contract portfolio	2024	2023
Group	In a range between 130,000 and 150,000 contracts	125,800 contracts
Financials
Operating revenue ${ }^{1}$	In a range between EUR 350m and EUR 400m	EUR 342.7m
EBT ${ }^{2}$	In a range between EUR - 25 m and EUR - 35 m	EUR 12.6m

• The 2024 financial year will also be subject to major uncertainties. The potential residual value risks, which may arise in particular as a result of the growing captive leasing business with the Hyundai and Kia brands, could have a negative impact on the 2024 financial year.
• In order to return to the growth path despite the uncertain exogenous factors, the Allane Mobility Group is systematically pursuing the "FAST LANE 27" growth strategy presented in 2022. Among other things, the strategy includes the further establishment of partnerships with Hyundai and Kia as one of the key drivers of future growth.
• Based on its solid net assets, financial position and results of operations as well as the aforementioned developments, the Allane Mobility Group is confident about 2024.

04. Appendix

Allane Mobility Group: Revenue and earnings performance H1 2024¹)

in EUR million
Operating revenue
Sales revenue
Revenue
thereof Leasing business unit
thereof Fleet Management business unit
Expenses for vehicle fleet and leased assets
Personnel expenses
Other operating profit/expenses
EBITDA
Depreciation and amortization
Financial result
EBT
Operating return on revenue (\%)²
Income taxes
Consolidated net income
Earnings per share - basic and diluted (euros)

H1 2024	H1 2023	Change in \%
214.5	156.6	37.0
145.0	149.1	$-2.8$
359.5	305.7	17.6
347.9	294.1	18.3
11.6	11.6	$-0.6$
174.0	167.1	6.9
29.7	28.2	5.6
-7.8	-10.3	-24.3
-7.8	98.5	49.8
147.7	86.9	76.6
153.5	-4.7	$>+100.0$
-18.7	6.9	$>-100.0$
-24.6	4.4	-15.8 points
-11.4	2.5	$>-100.0$
-6.1	4.4	$>-100.0$
-18.4	0.21
-0.89