Ayvens · EURONEXT:AYV
Ayvens — Q3 2026 Earnings Presentation
29 slides from Ayvens's earnings presentation, Oct 29, 2026
Slide 1: Q3 2026 results
Q3 2026 results 29 October 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 Q3 2026 financial results 3 Appendix 3
Slide 4: Highlights
1 Highlights
Slide 5: Financial performance
Financial performance Strong capital position Income statement Q3 2026 Q3 2025 12.8% CET 1 ratio at 30 September 2026 Margins (1) 620bps 593 bps Share buyback c. 50% of 2026 SBB program Net UCS result per unit (2) EUR - 169 EUR 536 Gross UCS result per unit (3) EUR 118 EUR 1,110 executed as at 28 Oc
Slide 6: On track to achieve 2026 targets
On track to achieve 2026 targets 9M 2026 income statement Robust financial performance In EUR m 9M 2026 9M 2025 Change Improving margins Leasing & services margins 2,280 2,197 3.8% - Strong (1) Net UCS result 29 328 - 91.1% d ecline in net UCS result, Gross operating income 2,310 2,525 - 8.5% reflec
Slide 7: Fleet and earning assets
Fleet and earning assets (1) Earning assets Total fleet (1)(2) Deliveries by powertrain in EUR bn in ‘000 vehicles Passenger cars and LCVs Funded fleet Fleet management BEV PHEV Hybrids ICE Others 52.6 52.6 52.8 3% 3% 3% 3,193 3,054 3,044 26% 26% 32% 654 579 574 28% 31% 26% 12% 10% 2,539 2,475 2,470
Slide 8: Q3 financial results
2 Q3 financial results
Slide 9: Revenues impacted by lower net UCS result
Revenues impacted by lower net UCS result Gross Operating Income Leasing & Services Margins Net UCS Result in EUR m in EUR m in EUR m 851 830 816 754 739 776 757 762 761 950 747 850 750 650 776 747 757 550 762 761 450 782 749 775 800 817 350 83 250 75 59 150 75 83 59 50 (8) (5) (2) (21) (50) (18) (3
Slide 10: Continued strong margins delivery
Continued strong margins delivery Margins 609 593 567 587 620 in bps Underlying margins up 4.6% vs . Q 3 2025 Margins 950 776 757 762 761 747 900 in EUR m 850 800 750 700 9M 2026 margins at 603 bps vs . 569 bps in 650 600 9M 2025 - Marked hyperinflation 550 500 450 350 782 749 775 800 817 400 in Tur
Slide 11: Macro context weighing on UCS result
Macro context weighing on UCS result (1) UCS result in EUR m (1) UCS result per unit in EUR 1,110 155 702 99 (80) 470 (16) 69 589 326 83 536 75 42 403 118 59 15 (50) (36) (62) (8) (21) (169) Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 (2) (3) Gross UCS result p.u.
Slide 12: Strong positive jaws driving decrease in C/I ratio
Strong positive jaws driving decrease in C/I ratio Underlying 52.8% 56.2% 54.0% 50.3% 49.2% C/I ratio Operating expenses down 5.1% vs . Q 3 2025 600 Costs down - 8 .3% vs . Q 2 2025 and - 4.4% 477 Operating expenses 500 in EUR m 429 9Man 2026 on underlying underlying basis C/I ratio at 51.1%, 34 422
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 29.7% 450 26.9% 27.0% 27.0% 0.300 21.5% 400 0.200 390 350 365 0.100 14.3% 13.9% 280 13.4% 13.2% 300 340 12.3% 0.140 318 306 - 260 273 0.120 250 266 0.100 -0.100 200 240 248 21 21 19 12 19 240
Slide 14: RWA evolution and CET 1 ratio
RWA evolution and CET 1 ratio RWA evolution (in EUR bn) CET 1 ratio +84 bps Q3 26 +22 bps 0.2 53.4 +44 bps 53.2 H1 26 13.2% - 19 bps +62 bps - 14 bps 12.8% - 137 bps 30 - Jun - 26 Earning assets 30 - Sept - 26 1. Mainly including non - transactional RWAs such as inventory, prepayments and other rece
Slide 15: Appendix
3 Appendix
Slide 16: Breakdown of depreciation adjustments
Breakdown of depreciation adjustments P&L: Breakdown of depreciation adjustments in UCS Balance sheet: Prospective depreciation stock in EUR million Q3 2026 Q3 2025 in EUR million (1) New prospective depreciation for running fleet (35) (48) Prospective depreciation 30.06.2026 (12) Reversal of prospe
Slide 17: Enhancing performance readability
Enhancing performance readability 9M 2026 9M 2026 Reconciliation between underlying C/I ratio and C/I ratio excluding Underlying C/I C/I Ratio excl. hyperinflation Ratio hyperinflation Reported margins 2,280 2,280 Non - recurring impacts from treasury activities 16 - Hyperinflation in Turkey (114) (
Slide 18: Balance sheet as at 30 September 2026
Balance sheet as at 30 September 2026 in EUR million 30 September 2026 30 June 2026 31 December 2025 Earning assets 52,759 52,626 53,045 o/w Rental fleet 50,988 50,873 51,168 o/w Finance lease receivables 1,771 1,753 1,877 Cash & Cash deposits with central banks 1,863 1,915 2,045 Intangibles (incl.
Slide 19: Q3 2026 financial results
Q3 2026 financial results Var. Var. % in EUR million Q3 2026 Q3 2025 Q3 2026 Q3 2026 vs. Q3 2025 vs. Q3 2025 (1) Total contracts ('000) 3,044 3,193 (149) - 4.7% Full service leasing contracts 2,470 2,539 (69) - 2.7% Fleet management contracts 574 654 (80) - 12.3% Leasing margin 328.5 345.8 (17.2) -
Slide 20: Earnings per share (EPS)
Earnings per share (EPS) Basic EPS 9M 2026 9M 2025 Existing shares 783,862,091 816,960,428 Shares allocated to cover stock options and shares awarded to staff (218,239) (484,981) Other own shares and treasury shares (12,797,902) (130,929) End of period number of shares 770,845,950 816,344,518 Weight
Slide 21: Return on tangible equity (ROTE)
Return on tangible equity (ROTE) in EUR million Q3 2026 Q3 2025 9M 2026 9M 2025 Equity base for ROE BoP 9,384.3 10,196.9 9,765.7 10,053.4 Group shareholders' equity 11,008.8 11,458.5 11,008.8 11,458.5 AT1 Capital (750.0) (750.0) (750.0) (750.0) Interest on AT1 capital (18.4) (18.1) (18.4) (18.1) (1)
Slide 22: Tangible book value per share
Tangible book value per share in EUR million 30 September 2026 31 December 2025 Group shareholders' equity 11,008.8 11,010.6 AT1 capital (750.0) (750.0) Interest on AT1 capital (18.4) (37.2) Net Asset Value (NAV) 10,240.4 10,223.5 Goodwill (2,127.5) (2,127.5) Intangible assets (599.6) (609.2) Net Ta
Slide 23: CRR3/CRD6 prudential capital ratios and RWA
CRR3/CRD6 prudential capital ratios and RWA 30 September 30 June 31 March 31 December in EUR million 2026 2026 2026 2025 Group shareholders’ equity 11,009 11,115 11,380 11,011 AT1 capital (750) (750) (750) (750) (1) Distribution provision & interest on AT1 capital (714) (964) (642) (500) Goodwill an
Slide 24: Quarterly series
Quarterly series in EUR million Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Leasing margin 231.7 297.7 265.1 307.7 345.8 345.2 350.3 341.9 328.5 Services margin 414.8 377.5 443.3 404.4 430.4 402.1 407.0 420.3 432.3 Leasing and Services margins 646.5 675.2 708.4 712.1 776.
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 Top 1% Top 5% Top 15% Top 35% Platinum medal 100 90 85 45 25 0 65 Top 1% Carbon management Outstanding Advanced Good Partial Insufficient level: Leader 0 10 20 30 40 80+ Negligible risk Industry (tran
Slide 28: Agenda
Agenda Q4 and FY 2026 results 1 4 February 2027 2 Q1 2027 results 4 May 2027
Slide 29: Societe Generale Group
SOCIETE GENERALE GROUP