AUTO1 Group SE

Investor Presentation • Jul 31, 2024

AUTO 7
GROUP

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For the purposes of this notice, "Presentation" means this document, its contents or any part of it. This Presentation does not, and is not intended to, constitute or form part of, and should not be construed as, an offer to sell, or a solicitation of an offer to purchase, subscribe for or otherwise acquire, any part of it form the basis of or be relied upon in connection with or act as any inducement to enter into any contract or commitment or investment decision whatsoever. This Presentation is neither an advertisement nor a prospectus and should not be relied upon in making any investment decision to purchase, subscribe for or otherwise acquire any securities.

• The information and opinions contained in this Presentation are provided as at the date of this Presentation, are subject to change without notice and do not purport to contain all information that may be required to evaluate AUTO1 Group SE. AUTO1 Group SE undertakes no obligation to update or revise this Presentation. No reliance may or should be placed for any purpose whatsoever on the information contained in this Presentation, or any other information discussed verbally, or on its completeness, accuracy or fairness.
• The information in this Presentation is of preliminary and abbreviated nature and may be subject to updating, revision and amendment, and such information may change materially. Neither AUTO1 Group SE nor any of its directors, officers, employees, agents or affiliates undertakes or is under any duty to update this Presentation or to correct any inaccuracies in any such information which may become apparent or to provide any additional information.
• The Presentation and discussion contain forward looking statements, other estimates, opinions and projections with respect to anticipated future performance of AUTO1 Group SE ("forward-looking statements"). By their nature, forward-looking statements involve significant risks and uncertainties, because they relate to events and depend on circumstances that may or may not occur in the future. forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Similarly, past performance should not be taken as an indication of future results, and nor representation or warranty, express or implied, is made regarding future performance. The development of AUTO1 Group SE's prospects, growth, strategies, the industry in which it operates, and the effect of acquisitions on AUTO1 Group SE may differ materially from those made in or suggested by the forward-looking statements contained in this Presentation or past performance. In addition, even if the development of AUTO1 Group SEs prospects, growth, strategies and the industry in which it operates are consistent with the forward-looking statements contained in this Presentation or past performance, those developments may not be indicative of AUTO1 Group SE results, liquidity or financial position or of results or developments in subsequent periods not covered by this Presentation. Any forward-looking statements only speak as at the date of this Presentation is provided to the recipient and it is up to the recipient to make its own assessment of the validity of any forward-looking statements and assumptions. No liability whatsoever is accepted by AUTO1 Group SE in respect of the achievement of such forward-looking statements and assumptions.

Europe's Used Car Market On One Platform

Q2 2024 Delivered Double Digit Growth and Record Profits, Driven by Strong Demand for Our Products

Growth Across All Products Demonstrates the Power of Our Platform

Merchant Update

Merchant Continued Strong Unit Growth While Hitting a New Gross Profit Record

Our Merchant Offering Engages a Growing Number of Partner Dealers

Buying Merchants on AUTO1.com # Unique Buyers

25.2 k

Q2 2023
Q2 2024

Average Basket
# Purchased Cars per Quarter

Our Merchant Partners Continue to Show Strong Interest in AUTO1 Finance

$€ 184 \mathrm{~m}$

Portfolio
Balance

$>10 \%$

Avg. Interest Rate with Risk Based Pricing

• Over 1,700 active Merchants
• Offered in four markets to date:
• Germany
• France
• Spain
• Austria
  

We Launched a New Auction Format for Key Customers in Remarketing

Our Flywheel is Accelerating

Retail Update

Our Investments Increasingly Establish Autohero as a Trusted Brand Across Europe, Enabling Us to Strongly Grow Both Units and GPU

Faster Delivery Times Drive Incremental Demand

Q2 2024 Financial Figures And FY 2024 Guidance Update

Q2 2024 Financial Figures

	FY 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q2 YoY	Q2 QoQ
Units Sold	586,085	141,682	140,630	146,667	163,766	166,292	17.4\%	1.5\%
Revenue (€m)	5,462.8	1,340.5	1,292.6	1,323.7	1,454.3	1,518.2	13.3\%	4.4\%
ASP (€)	9,321	9,462	9,192	9,025	8,881	9,130	(3.5\%)	2.8\%
Gross Profit (€m)	527.9	127.8	134.4	133.8	162.9	173.3	35.7\%	6.4\%
GPU* (€)	899	898	952	918	993	1,041	15.9\%	4.8\%
Opex (€m)	(572)	(143)	(134)	(138)	(146)	(153)	(7.0\%)	(4.5\%)
o/w Employee Costs pre SDI (€m)	(264.4)	(66.3)	(61.3)	(67.6)	(68.7)	(72.0)	(8.7\%)	(4.8\%)
o/w Marketing Expenses (€m)	(137.1)	(37.0)	(33.5)	(31.5)	(32.8)	(35.7)	3.5\%	(8.8\%)
o/w Internal Logistics (€m)	(78.0)	(18.1)	(21.7)	(20.2)	(21.8)	(22.0)	(21.9\%)	(1.0\%)
Adjusted EBITDA (€m)	(43.9)	(14.8)	0.5	(4.5)	17.0	20.7	n.m.	22.1\%
Adjusted EBITDA Margin	(0.8\%)	(1.1\%)	(0.0\%)	(0.3\%)	1.2\%	1.4\%	2.5pp	0.2pp

We Achieved Our Best Ever Profitability While Investing Into Future Growth

We Retain a Strong Balance Sheet with no Corporate Debt

After Q2 Close, We Successfully Placed Our Debut Public ABS for Our German Consumer Loans in July 2024

Class	Rating Moody's(sf)/DBRS(sf)	Size Gmm	Spread
A	Aaa/AAA	182.9	70bps
B	Aa2/AA Low	11.2	100bps
C	A2/A Low	10.1	150bps
D	Baa3/BBB Low	7.9	350bps
Risk retention	NR/NR	11.2	$4.25 \%$

• Blended spread of 87 bps for $95 \%$ loan to value
• Strong oversubscription, transaction placed with top tier asset managers and banks
• Achieved "STS - Simple, transparent, standardised" verification and ECB eligibility in debut deal
• Strong external validation of our consumer finance portfolio performance
• Significant improvement to our net interest margin
• Significant reduction in capital intensity of consumer finance
• We are well placed to significantly grow in-house financing offer

We Upgrade FY 2024 Profitability Guidance

Unit Guidance

Units Group
Units Merchant

Units Autohero

Financial Guidance

Gross Profit EUR 610 - 680m
Last Guidance: EUR 570 - 650m

Adj. EBItDA EUR 45 - 65m

Last Guidance: EUR 20 - 40m

Q\&A

Thanks

Appendix

In Q2 2024 We Demonstrated How to Combine Growth And Best Ever Profitability

Segment: Merchant

	FY 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q2 YoY	Q2 QoQ
Units Sold	523,019	127,285	125,785	130,922	146,625	148,598	16.7\%	1.3\%
Thereof C2B	457,885	110,703	110,983	115,892	132,516	134,648	21.6\%	1.6\%
Thereof Remarketing	65,134	16,582	14,802	15,030	14,109	13,950	(15.9\%)	1.1\%
Revenue (€m)	4,464.0	1,114.5	1,058.2	1,069.8	1,177.9	1,228.2	10.2\%	4.3\%
Thereof C2B (€m)	3,830.6	960.7	918.9	913.2	1,030.9	1,086.2	13.1\%	5.4\%
Thereof Remarketing (€m)	633.4	153.8	139.3	156.6	147.0	142.0	(7.7\%)	(3.4\%)
ASP (€)	8,535	8,756	8,413	8,171	8,034	8,265	(5.6\%)	2.9\%
Thereof C2B (€)	8,366	8,678	8,280	7,880	7,780	8,067	(7.0\%)	3.7\%
Thereof Remarketing (€)	9,724	9,277	9,409	10,416	10,420	10,182	9.8\%	(2.3\%)
Gross Profit (€m)	419.2	103.1	105.4	103.7	129.1	136.4	32.3\%	5.6\%
GPU (€)	801	810	838	792	881	918	13.3\%	4.2\%

Segment: Retail (Autohero)

	FY 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q2 YoY	Q2 QoQ
Units Sold	63,066	14,397	14,845	15,745	17,141	17,694	22.9\%	3.2\%
Revenue (€m)	998.9	226.0	234.5	254.0	276.4	290.0	28.3\%	4.9\%
ASP (€)	15,839	15,701	15,794	16,129	16,125	16,392	4.4\%	1.7\%
Gross Profit (€m)	108.7	24.7	28.9	30.1	33.8	36.9	49.7\%	9.2\%
GPU* (€)	1,712	1,680	1,912	1,970	1,956	2,077	23.6\%	6.2\%

[^0]
[^0]: *GPU is not equal to gross profitinumber of cars sold because of the effects of inventory changes due to the capitalisation of internal refurbishment costs which are not part of cost of materials. Differences may exist due to rounding

Captive Finance Non-Recourse Funding

• Auto has no legal ownership of SPVs and no obligation to extend lenders
• Only recourse of External Lenders is against SPV and the underlying loan receivable
• Captive Finance financial liabilities are therefore not viewed part of net debt / cash by AUTO1

AUTO1 Consolidates Financing SPVs as it has control and strong economic exposure

• Downside exposure as high defaults mean SPVs won't repay all Notes, exposing Junior Notes to non-repayment
• Base case / upside exposure from excess interest

Investor Relations Contact

Philip Reicherstorfer
Group Treasurer

Address
Bergmannstr. 72
10961 Berlin

Tel.
+49 (0)30 - 201638213
E-Mail
ir@auto1-group.com

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