Slide 1: Q2 2026 results
Q2 2026 results 30 July 2026
Slide 2: Disclaimer
Disclaimer The information contained in this document (the “Information”) has been prepared by Ayvens (the “Company”) solely for informational purposes. The Information is proprietary to the Company. This presentation and its content may not be reproduced or distributed or published, directly or ind
Slide 3: Contents
Contents 1 Highlights 2 Q2 2026 financial results 3 Appendix 3
Slide 4: Highlights
1 Highlights
Slide 5: Financial performance
Financial performance Delivering value to shareholders Income statement Q2 2026 Q2 2025 c. EUR 700m distribution to shareholders Margins (1) 609 bps 550 bps EUR 450m share buyback to be launched on 31 July 2026 (2) Net UCS result per unit EUR - 62 EUR 972 Exceptional cash dividend Gross UCS result p
Slide 6: H1 2026 results
H1 2026 results H1 2026 income statement Strong financial performance In EURm H1 2026 H1 2025 Change Lower GOI due to decline in net UCS Leasing & services margins 1,520 1,420 7.0% result partially offset by strong Net UCS result (1) 51 253 - 80.0% margins Gross operating income 1,570 1,674 - 6.2% O
Slide 7: Fleet and earning assets
Fleet and earning assets (1)(2) (1) Earning assets Total fleet Deliveries by powertrain in EUR bn in ‘000 vehicles Passenger cars and LCVs Funded fleet Fleet management BEV PHEV Hybrids ICE Others 52.9 52.5 52.6 3% 3% 3% 3,204 27% 26% 3,077 34% 3,054 648 583 579 29% 28% 26% 12% 12% 2,557 2,494 11% 2
Slide 8: Q2 2026 financial results
2 Q2 2026 financial results
Slide 9: Strong margins and UCS normalization
Strong margins and UCS normalization Gross Operating Income Leasing & Services margins Net UCS result 855 776 757 762 851 830 816 850 747 900 712 754 750 800 650 700 550 600 712 in EUR m 450 500 in EUR m in EUR m 776 747 757 782 775 800 762 350 731 749 400 250 300 143 150 200 75 83 143 50 100 59 75
Slide 10: Strong margins
Strong margins Margins in bps 550 593 567 587 609 776 757 762 850 Margins in EUR m 712 747 900 Underlying margins up 59 bps vs . Q 2 2025 750 800 thanks to continued focus on profitability 650 700 over volumes 550 600 450 500 782 775 800 350 731 749 400 Non - recurring items : hyperinflation in 250
Slide 11: Net UCS result driven by negative prospective depreciation
Net UCS result driven by negative prospective depreciation Result per unit sold (1) UCS result in EUR in EUR m 1,234 1,110 181 155 (38) 972 702 143 (80) 99 470 (16) 69 536 589 326 83 42 403 75 59 (50) (62) (8) Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 (2) (3) Gr
Slide 12: Delivering on C/I ratio
Delivering on C/I ratio Underlying 57.6% 52.8% 56.2% 54.0% 50.3% C/I ratio 600 Costs down - 8 .3% vs . Q 2 2025 and - 4.4% Operating expenses 477 500 in EUR m 447 429 422 on an underlying basis 34 410 26 17 23 4- 7 400 C/I ratio is down 7.3p.p. vs . Q 2 2025 300 200 421 412 420 418 403 100 Q2 Q3 Q4
Slide 13: ROTE in line with guidance
ROTE in line with guidance Cost of risk Profit before tax Net income group share in EUR m in EUR m in EUR m 450 0.500 29.5% 29.7% 26.9% 27.0% 27.0% 400 386 390 350 365 - 13.7% 14.3% 13.9% 280 13.4% 300 340 12.3% 0.140 318 260 271 273 0.120 250 -0.500 266 0.100 200 240 248 0.080 20 21 21 19 30 12 30
Slide 14: RWA evolution and CET 1 ratio
RWA evolution and CET 1 ratio RWA evolution (in EUR bn) CET1 ratio +69 bps - 89 bps 0.1 53.2 0.5 +44 bps - 7 bps 52.6 13.2% - 12 bps - 48 bps - 15 bps 12.6% 31- Mar - 26 Earning Misc. 30 - Jun - 26 assets 1. Mainly including non - transactional RWAs such as inventory, prepayments and other receivabl
Slide 15: 2026 Ayvens Capital Markets Day
2026 Ayvens Capital Markets Day Save the date Monday, 21 September 2026 2:00 PM to 6:00 PM (London time) The Pelligon 43 Bank Street, Canary Wharf, London E14 5NX United Kingdom
Slide 16: Appendix
3 Appendix
Slide 17: Breakdown of depreciation adjustments
Breakdown of depreciation adjustments P&L: Breakdown of depreciation adjustments in UCS Balance sheet: Prospective depreciation stock in EUR million Q2 2026 Q2 2025 in EUR million New prospective depreciation for running fleet (41) - Prospective depreciation 31.03.2026 53 Reversal of prospective dep
Slide 18: Balance sheet as at 30 June 2026
Balance sheet as at 30 June 2026 in EUR million 30 June 2026 31 December 2025 Earning assets 52,626 53,045 o/w Rental fleet 50,873 51,168 o/w Finance lease receivables 1,753 1,877 Cash & Cash deposits with central banks 1,915 2,045 Intangibles (incl. goodwill) 2,730 2,737 Operating lease and other r
Slide 19: Q2 2026 financial results
Q2 2026 financial results Var. Var. % in EUR million Q2 2026 Q2 2025 Q2 2026 Q2 2026 vs. Q2 2025 vs. Q2 2025 Total contracts ('000) 3,054 3,204 (151) - 4.7% Full service leasing contracts 2,475 2,557 (81) - 3.2% Fleet management contracts 579 648 (69) - 10.7% Leasing margin 341.9 307.7 34.2 11.1% Se
Slide 20: Earnings per share (EPS)
Earnings per share (EPS) Basic EPS H1 2026 H1 2025 Existing shares 783,862,091 816,960,428 Shares allocated to cover stock options and shares awarded to staff (218,239) (484,981) Treasury shares in liquidity contracts (133,520) (138,779) End of period number of shares 783,510,332 816,336,668 Weighte
Slide 21: Return on tangible equity (ROTE)
Return on tangible equity (ROTE) in EUR million Q2 2026 Q2 2025 H1 2026 H1 2025 Equity base for ROE BoP 9,955.7 10,153.2 9,765.7 10,053.4 Group shareholders' equity 11,115.4 11,161.5 11,115.4 11,161.5 AT1 Capital (750.0) (750.0) (750.0) (750.0) Interest on AT1 capital - (0.2) - (0.2) (1) Distributio
Slide 22: Tangible book value per share
Tangible book value per share in EUR million 30 June 2026 31 December 2025 Group shareholders' equity 11,115.4 11,010.6 AT1 capital (750.0) (750.0) Interest on AT1 capital - (37.2) Book value of treasury shares 9.2 12.3 Net Asset Value (NAV) 10,374.6 10,235.8 Goodwill (2,127.5) (2,127.5) Intangible
Slide 23: CRR3/CRD6 prudential capital ratios and RWA
CRR3/CRD6 prudential capital ratios and RWA in EUR million 30 June 2026 31 March 2026 31 December 2025 Group shareholders’ equity 11,115 11,380 11,011 AT1 capital (750) (750) (750) (1) Distribution provision & interest on AT1 capital (964) (642) (500) Goodwill and intangible assets (2,730) (2,728) (
Slide 24: Quarterly series
Quarterly series in EUR million Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Leasing margin 260.2 231.7 297.7 265.1 307.7 345.8 345.2 350.3 341.9 Services margin 426.7 414.8 377.5 443.3 404.4 430.4 402.1 407.0 420.3 Leasing and Services margins 686.9 646.5 675.2 708.4 712.
Slide 25: Yearly series
Yearly series in EUR million 2017 2018 2019 2020 2021 2022 2023 2024 2025 Leasing margin 558.1 613.1 643.7 643.4 683.0 758.8 775.5 1,070.7 1,263.7 Services margin 593.0 616.7 632.3 652.0 650.0 715.1 1,250.9 1,626.5 1,680.3 Leasing and Services margins 1,151.1 1,229.8 1,276.0 1,295.4 1,333.0 1,473.9
Slide 26: Glossary
Glossary BEV Battery Electric Vehicles Earning assets Net carrying amount of the rental fleet plus net receivables from finance leases EV Electric Vehicles ICE Internal Combustion Engine: Petrol and Diesel Hybrids Mild and full hybrid vehicles Other powertrains LPG, Gas and CNG, Bi - Fuel and Flex F
Slide 27: ESG ratings: recognition of Ayvens ESG performance
ESG ratings: recognition of Ayvens ESG performance A gencies Best Score Worst Position versus peers Gold medal 100 84 73 66 0 56 Top 2% Carbon management 83 level: Leader 0 10 20 30 40 80+ Low risk Industry (transportation) 9.3 negligible low medium high severe ranking : 1st A B B- C C- D D- Supplie
Slide 28: Agenda
Agenda Launch of share buyback program 1 31 July 2026 Exceptional dividend detachment 2 8 September 2026 3 Exceptional dividend payment 10 September 2026 4 Capital Markets Day 21 September 2026 5 Q3 2026 results 29 October 2026 Q4 2026 results 6 4 February 2027
Slide 29: Societe Generale Group
SOCIETE GENERALE GROUP