Slide 1: Q1 2026 results
Q1 2026 results 30 April 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 Q1 2026 financial results 3 Appendix 3
Slide 4: Highlights
1 Highlights
Slide 5: Financial performance
Financial performance Income statement Q1 2026 Q1 2025 Balance sheet Margins(1) 587 bps 562 bps CET 1 ratio Net UCS result per unit(2) EUR 403 EUR 703 13.9% as at 31 March 2026 (3) Gross UCS result per unit EUR 470 EUR 1,229 Underlying C/I ratio(4) 54.0% 58.0% EUR 1.5bn green Net income group share
Slide 6: Key developments of the quarter
Key developments of the quarter Integration on track ESG recognition Enhanced market with plan First international leasing profile company with validated SBTi trajectory EUR 110m synergies(1) Inclusion in MSCI standard vs. EUR 61m in Q1 2025 CO2 emissions of the financed fleet at index since 27 Febr
Slide 7: Fleet and earning assets
Fleet and earning assets Earning assets Total fleet(1)(2) Deliveries by powertrain(1) in EUR bn in ‘000 vehicles Passenger cars and LCVs Funded fleet Fleet management BEV PHEV Hybrids ICE Others 53.5 2% 3% 53.0 52.5 3,239 3,175 27% 3,077 35% 662 650 583 29% 26% 9% 12% 2,578 2,525 2,494 28% 29% Mar.2
Slide 8: Q1 2026 financial results
2 Q1 2026 financial results
Slide 9: Stable revenues vs. Q1 2025 with higher margins and UCS normalisation
Stable revenues vs. Q1 2025 with higher margins and UCS normalisation Gross Operating Income Leasing & Services margins Net UCS result 851 776 757 819 855 830 816 850 747 900 708 712 750 800 650 700 550 600 in EUR m in EUR m in EUR m 712 450 500 708 776 747 757 782 775 350 752 731 749 400 250 300 14
Slide 10: Strong margins
Strong margins Margins in bps 562 550 593 567 587 776 747 757 850 Margins in EUR m 708 712 900 Underlying margins increase 3.0% vs. Q1 750 800 2025, reflecting the continued focus on profitability 650 700 550 600 450 500 350 752 731 782 749 775 400 Non-recurring items: hyperinflation in 250 300 Turk
Slide 11: Ongoing normalization of UCS result
Ongoing normalization of UCS result Result per unit sold (1) UCS result in EUR in EUR m 1,229 1,234 193 181 1,110 155 -38 -83 972 702 143 -80 99 703 111 -16 69 470 83 589 75 -10 536 59 403 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 (2) Gross UCS result Net UCS re
Slide 12: Improving C/I ratio as planned
Improving C/I ratio as planned Underlying C/I ratio 58.0% 57.6% 52.8% 56.2% 54.0% 600 Costs down -10.7% vs. Q1 2025 and -4.2% Operating 500 expenses 473 477 in EUR m 447 429 422 on an underlying basis 36 34 26 17 23 4 400 C/I ratio is down 4p.p. vs. Q1 2025 300 200 436 421 412 420 418 100 Q1 Q2 Q3 Q
Slide 13: Q1 2026 net income group share up 21% vs. Q1 2025
Q1 2026 net income group share up 21% vs. Q1 2025 Cost of risk Profit before tax Net income group share in EUR m in EUR m in EUR m 450 30.0% 29.5% 29.7% 26.9% 27.0% 0.500 400 386 390 350 365 - 13.7% 14.3% 13.9% 300 300 12.3% 0.140 316 318 11.0% 0.120 250 -0.500 250 271 273 266 0.100 232 200 200 220
Slide 14: Strong capital generation and RWA optimisation
Strong capital generation and RWA optimisation RWA evolution (in EUR bn) CET1 ratio 53.7 +37 bps 13.9% +44 bps 13.2% -15 bps 0.2 52.6 -1.0 0.4 -0.7 31-Dec-25 Cash netting NEA Off balance Misc. 31-Mar-26 CET 1 ratio Credit risk Other RWA Capital generation (2) CET 1 ratio with SG methodology sheet (1
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 Q1 2026 Q1 2025 in EUR million Prospective depreciation -21 - Prospective depreciation 31.12.2025 82 Reversal of prospective depreciation -7 -55 Net ch
Slide 17: Balance sheet as at 31 March 2026
Balance sheet as at 31 March 2026 in EUR million 31 March 2026 31 December 2025 Earning assets 52,536 53,045 o/w Rental fleet 50,742 51,168 o/w Finance lease receivables 1,794 1,877 Cash & Cash deposits with the ECB 1,964 2,045 Intangibles (incl. goodwill) 2,728 2,737 Operating lease and other recei
Slide 18: Q1 2026 financial results
Q1 2026 financial results Var. Var. % in EUR million Q1 2026 Q1 2025 Q1 2026 Q1 2026 vs. Q1 2025 vs. Q1 2025 Total contracts ('000) 3,077 3,239 (162) -5.0% Full service leasing contracts 2,494 2,578 (84) -3.3% Fleet management contracts 583 662 (79) -11.9% Leasing margin 350.3 265.1 85.2 32.2% Servi
Slide 19: Earnings per share (EPS)
Earnings per share (EPS) Basic EPS Q1 2026 Q1 2025 Existing shares 783,862,091 816,960,428 Shares allocated to cover stock options and shares awarded to staff (218,239) (432,602) Treasury shares in liquidity contracts (137,436) (163,293) End of period number of shares 783,506,416 816,364,533 Weighte
Slide 20: Return on tangible equity (ROTE)
Return on tangible equity (ROTE) in EUR million Q1 2026 Q1 2025 Group shareholders' equity 11,380.3 11,350.7 AT1 Capital (750.0) (750.0) Interest on AT1 capital (55.2) (56.2) (1) Distribution provision (586.7) (402.9) OCI excluding conversion reserves (32.7) 11.6 Equity base for ROE end of period 9,
Slide 21: Tangible book value per share
Tangible book value per share in EUR million 31 March 2026 31 December 2025 Group shareholders' equity 11,380.3 11,010.6 AT1 capital (750.0) (750.0) Interest on AT1 capital (55.2) (37.2) Book value of treasury shares 12.6 12.3 Net Asset Value (NAV) 10,587.6 10,235.8 Goodwill (2,127.5) (2,127.5) Inta
Slide 22: CRR3/CRD6 prudential capital ratios and RWA
CRR3/CRD6 prudential capital ratios and RWA in EUR million 31 March 2026 31 December 2025 Group shareholders’ equity 11,380 11,011 AT1 capital (750) (750) (1) Distribution provision & interest on AT1 capital (642) (500) Goodwill and intangible assets (2,728) (2,737) Deductions and regulatory adjustm
Slide 23: Quarterly series
Quarterly series in EUR million Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Leasing margin 281.2 260.2 231.7 297.7 265.1 307.7 345.8 345.2 350.3 Services margin 407.4 426.7 414.8 377.5 443.3 404.4 430.4 402.1 407.0 Leasing and Services margins 688.6 686.9 646.5 675.2 708.
Slide 24: 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 25: 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 MDA Maximum Distributable Amount Other powertrains LPG,
Slide 26: ESG ratings: recognition of Ayvens ESG performance
ESG ratings: recognition of Ayvens ESG performance Gold medal Top 2% Carbon management level: Leader Low risk - Top 1% 9.4 Rank : 1/358 negligible low medium high severe in transportation Supplier Engagement Score (SEA): B Leader in the Road & Rail Transport sector Rated “Prime” on sustainability pe
Slide 27: Agenda
Agenda Annual General Meeting 2 13 May 2026 Dividend detachment 3 20 May 2026 Dividend payment 4 22 May 2026 Q2 2026 results 5 30 July 2026 Capital Markets Day (London) 6 21 September 2026 7 Q3 2026 results 29 October 2026
Slide 28: Societe Generale Group
SOCIETE GENERALE GROUP