Slide 1: First Half Fiscal 2026 Results
First Half Fiscal 2026 Results April 16, 2026 ©Pluxee – All rights reserved
Slide 2: Presentation Speakers
Aurélien Sonet Chief Executive Presentation Officer Speakers Stéphane Lhopiteau Chief Financial Officer ©Pluxee – All rights reserved 2
Slide 3: Highlights
01 Highlights Commercial Performance Financial Results Outlook Appendices ©Pluxee – All rights reserved 3
Slide 4: Solid execution in H1 FY26, delivering toward full-year objectives
Sustained topline Robust commercial traction, supporting sustainable revenue growth, momentum driven by core Employee Benefits Profitability Recurring EBITDA expanding sharply, underpinned by substantial, delivering ahead broad-based margin expansion of plan Solid execution Earnings growth supportin
Slide 5: Strong performance delivered across all financial levers in H1 Fiscal 2026
Strong performance delivered across all financial levers in H1 Fiscal 2026 Sustained topline Strong profitability Excellent cash growth supported delivery ahead generation and by core business of expectations conversion Total Recurring Recurring Revenues EBITDA free cash flow €655m €242m €210m +5.6%
Slide 6: Proven business model converting growth into margin expansion and cash generation
Proven business model structurally converting growth into margin expansion and cash generation Resilient growth engine Substantial margin expansion Cash-generative model anchored in Employee Benefits through operating leverage ensuring efficient and efficiency gains EBITDA-to-cash conversion +5.6% o
Slide 7: Employee Benefits driving Group's Operating revenue across regions
Employee Benefits driving Group’s Operating revenue across regions All regions Cont. Europe +9.4% +5.1% organic growth organic growth Employee Benefits 87% Operating revenue Latin America Rest of the world +11.5% +16.8% organic growth organic growth NOTE: Pluxee H1 Fiscal 2026 Employee Benefits Oper
Slide 8: Other Products & Services preserved long-term growth potential
Other Products & Services preserved long-term growth potential Focus on two selected activities Active Public Benefits monitoring Other Ongoing business transformation in Continental Europe Products in the UK and US & Services • Temporary revenue pressure in Austria, • Strategic pivot toward Employe
Slide 9: Structural margin expansion driven by scalable model and disciplined cost execution
Structural margin expansion driven by scalable model and disciplined cost execution Continued EBITDA margin uplift driven Operating leverage by accelerated operating gains from scalable business model EBITDA M&A 35.4% 25.7% 37.0% 28.1% Business volume 0ne platform margin scale effects structural arc
Slide 10: Commercial Performance
Highlights 02 Commercial Performance Financial Results Outlook Appendices ©Pluxee – All rights reserved 10
Slide 11: Pluxee's commercial performance
H1 Fiscal 2026 Business targets achievements by Fiscal 2026-end Record new client €0.9bn €1.3bn+ per fiscal year development New client development Fiscal 2024-2026 in annualized BVI Net retention holding up amid 99% Above 100% macro headwinds by Fiscal 2026 Pluxee’s Net retention rate in BVI (1) co
Slide 12: Record new client development
Record new client development supporting full-year objectives +50% BVI growth Employee mobility benefits in Brazil €0.9bn Acceleration in new client development across all regions, highlighting: H1 FY25 – H1 FY26 New client wins • Pluxee’s strong value proposition annualized BVI • Resilient demand d
Slide 13: Solid Net retention anchored in Pluxee's strong value proposition
Solid Net retention anchored in Pluxee’s strong value proposition €2.9bn Face value increase cumulative additional BVI generated 99% Sustained increase in average face value supported by tight client portfolio management from FY24 to H1 FY26 Net retention BVI rate €3.0bn+ €2.9bn Further Cross-sellin
Slide 14: Financial Results
Highlights Commercial Performance 03 Financial Results Outlook Appendices ©Pluxee – All rights reserved 14
Slide 15: Business volume growth driven by Employee Benefits
Business volume growth driven by Employee Benefits +5.9% organic BVI growth Business volume issued (BVI) in Employee Benefits €13.1bn €12.9bn Sustained contribution from new client €0.8bn €10.1bn €3.5bn €2.7bn wins supporting volumes €9.6bn -€0.1bn -€0.2bn Resilient Net retention in a challenging ma
Slide 16: Solid Total Revenues growth in H1 Fiscal 2026
Solid Total Revenues growth in H1 Fiscal 2026 +8.8% Operating revenue Total Revenues by nature organic growth excluding one-offs(1) +5.6% organic growth +3.0% reported Operating revenue reflecting +2.8% organic growth sustained momentum +0.1% reported €655m excl. temporary one-off effects €635m 83 8
Slide 17: Operating revenue growth driven by Employee Benefits
Operating revenue growth driven by Employee Benefits +9.4% Operating revenue Operating revenue by line of services organic growth in Employee Benefits +5.7% organic growth +3.9% reported Employee Benefits +2.8% organic growth delivering high single-digit organic +0.9% reported growth, driven by stro
Slide 18: Consistent regional contribution to Operating revenue growth
Consistent regional contribution to Operating revenue growth Continental Europe resilient, with core Employee Benefits delivering solid growth despite All regions Cont. Europe softer macro environment and phasing effects in Public Benefits €573m Organic growth Organic growth(1) €250m Organic growth
Slide 19: Float revenue sustained by volume effect
Float revenue sustained by volume effect +5.3% Float revenue Float revenue organic growth +X% YoY organic growth Average investment yield on Float 6.0% 6.1% Positive volume effect supported by increase in BVI € 83 m € 81 m in countries where interest rates remained elevated € 43 m € 41 m +5.3% organ
Slide 20: Recurring EBITDA delivering strong growth and margin expansion
Recurring EBITDA delivering strong growth and margin expansion +12.9% Recurring EBITDA Recurring EBITDA +X% YoY organic growth organic increase +X% 37.0% Recurring EBITDA margin, €242m €242m €225m €225m up +229bps organically 81 Operating leverage combined 83 +5.3% with cost discipline and operation
Slide 21: Robust Adjusted net profit growth delivered
Robust Adjusted net profit growth delivered +6.8% H1 Fiscal 2026 Income statement Adjusted EPS, Group share increase in million euros H1 Fiscal 2026 H1 Fiscal 2025 Reported growth (%) Total Revenues 655 635 +3.0% Operating expenses (412) (410) Earning growth delivered through Recurring EBITDA 242 22
Slide 22: Strong Recurring free cash flow generation
Strong Recurring free cash flow generation €210m Recurring free cash flow Recurring free cash flow €210m 86% Recurring free cash flow Recurring Cash conversion Cash generation driven by EBITDA growth, with disciplined in million euros H1 Fiscal 2026 H1 Fiscal 2025 CAPEX and effective cash collection
Slide 23: Net cash position further strengthened by strong cash generation
Net cash position further strengthened by strong cash generation €1,270m Net financial cash position Net financial cash position +107 million euros increase Balance sheet further strengthened while consistently executing Group’s allocation strategy €210m €35m €1,270m • Strong Recurring €1,163m €(12)
Slide 24: Outlook
Highlights Commercial Performance Financial Results 04 Outlook Appendices ©Pluxee – All rights reserved 24
Slide 25: Pluxee's action plan for navigating regulatory changes in Brazil
Pluxee’s action plan for navigating regulatory changes in Brazil Update on Group’s action plan around 3 core workstreams PAT(1) reform in Brazil as of mid-April 2026 assuming presidential decree full implementation within the announced timeframe • Full compliance with 1st phase of PAT decree impleme
Slide 26: Fiscal 2026 financial objectives reiterated
Fiscal 2026 financial objectives reiterated Continued confidence in delivery despite a challenging environment Total Revenues Stable on an organic basis organic growth Recurring Slight margin EBITDA margin organic expansion Recurring cash Around 80% conversion rate on average over Fiscal 2024-2026 N
Slide 27: Conclusion and Q&A
Conclusion and Q&A ©Pluxee – All rights reserved 27
Slide 28: Appendices
Highlights Commercial Performance Financial Results Outlook 05 Appendices ©Pluxee – All rights reserved 28
Slide 29: Appendix #1.1 Breakdown of Total Revenues by nature
Appendix #1.1 Breakdown of Total Revenues by nature Total Revenues by nature Fiscal Q1 Fiscal Q2 Fiscal H1 in million euros 2026 2025 2026 2025 2026 2025 Operating Revenue 268 249 306 303 573 552 Organic Growth (%) 9.1% 2.8% 5.7% Currency effect (%) (3.0)% (2.9)% (2.9)% Scope impact (%) 1.4% 1.0% 1.
Slide 30: Appendix #1.2 Breakdown of Total Revenues by line of services
Appendix #1.2 Breakdown of Total Revenues by line of services Total Revenues by line of services Fiscal Q1 Fiscal Q2 Fiscal H1 in million euros 2026 2025 2026 2025 2026 2025 Employee Benefits 271 249 304 290 575 539 Organic Growth (%) 11.2% 7.3% 9.1% Currency effect (%) (3.8)% (3.7)% (3.7)% Scope im
Slide 31: Appendix #1.3 Breakdown of Total Revenues by region
Appendix #1.3 Breakdown of Total Revenues by region Total Revenues by region Fiscal Q1 Fiscal Q2 Fiscal H1 in million euros 2026 2025 2026 2025 2026 2025 Continental Europe 121 120 153 159 274 279 Organic Growth (%) (0.4)% (5.2)% (3.1)% Currency effect (%) (0.0)% (0.0)% (0.0)% Scope impact (%) 1.9%
Slide 32: Appendix #2.1 Breakdown of Operating Revenue by line of services
Appendix #2.1 Breakdown of Operating Revenue by line of services Operating Revenue by line of services Fiscal Q1 Fiscal Q2 Fiscal H1 in million euros 2026 2025 2026 2025 2026 2025 Employee Benefits 234 212 266 252 500 464 Organic Growth (%) 11.6% 7.5% 9.4% Currency effect (%) (3.1)% (3.0)% (3.0)% Sc
Slide 33: Appendix #2.2 Breakdown of Operating Revenue by region
Appendix #2.2 Breakdown of Operating Revenue by region Operating Revenue by region Fiscal Q1 Fiscal Q2 Fiscal H1 in million euros 2026 2025 2026 2025 2026 2025 Continental Europe 110 105 141 144 250 248 Organic Growth (%) 2.7% (3.3)% (0.7)% Currency effect (%) (0.0)% (0.0)% (0.0)% Scope impact (%) 2
Slide 34: Appendix #3 H1 Fiscal 2026 exchange rates
Appendix #3 H1 Fiscal 2026 exchange rates Closing rate as Closing rate as of Variation Average rate for Average rate for Variation compared to euro of Feb. 28, 2026 Feb. 28, 2025 (%) H1 Fiscal 2026 H1 Fiscal 2025 (%) Brazilian real (BRL) 6.09 6.07 (0.2)% 6.26 6.18 (1.3)% Pound sterling (GBP) 0.88 0.
Slide 35: Appendix #4 Number of shares as of February 28, 2026
Appendix #4 Number of shares as of February 28, 2026 in number of shares February 28, 2026 August 31, 2025 Group’s share capital 147,174,692 147,174,692 Treasury shares 6,494,494 1,566,385 (closing position)(1) Number of shares for EPS calculation 143,891,996 145,549,376 (Basic weighted average numb
Slide 36: Appendix #5 Key business & financial terms
Appendix #5 Key business & financial terms CLIENT COMMISSIONS PORTFOLIO GROWTH DEVELOPMENT Commissions billed to clients on Business Increase in the number of final end-users Annualized business volumes issued volume issued, when cards, digitally from an existing client for a given product generated
Slide 37: Appendix #6.1 Key Alternative Performance Measures (APM)
Appendix #6.1 Key Alternative Performance Measures (APM) RECURRING OPERATING PROFIT REVENUE AND RECURRING ADJUSTED NET PROFIT (RECURRING EBIT) EBITDA ORGANIC GROWTH Adjusted net profit serves as the basis Operating profit (EBIT) before Other Growth in the current period, calculated for calculating d
Slide 38: Appendix #6.2 Key Alternative Performance Measures (APM)
Appendix #6.2 Key Alternative Performance Measures (APM) RECURRING FREE CASH FLOW RECURRING LIQUIDITY GENERATED FLOAT-RELATED CASH BY OPERATIONS Measure of the net cash generated from Cash collected from clients in relation to operations that is available for strategic Recurring liquidity generated
Slide 39: Fiscal 2026 upcoming financial calendar
Fiscal 2026 upcoming financial calendar July 3rd 2026 October 29th 2026 December 17th 2026 Third Quarter Fiscal 2026 Annual Fiscal Fiscal 2026 Annual Revenues 2026 Results Shareholders' Meeting These dates are indicative and may be subject to change without notice. Regular updates are available in t
Slide 40: Upcoming Management investor meetings
Upcoming Management investor meetings April 2026 May 2026 June 2026 Investor roadshows Bernstein conference dbAccess Global Consumer Europe (Paris, London) Nice – May 21 Conference Paris – June 2 ©Pluxee – All rights reserved 40
Slide 41: About Pluxee
€24 bn Business volume issued About Pluxee as of Fiscal 2025 5,626 Employees as at August 31, 2025 Pluxee is a global leader in Employee Benefits and Engagement that operates in 28 countries. 28 Pluxee shapes the world of employee Powered by leading technology and more Countries benefit and engageme
Slide 42: IR, Communication and Press contacts
IR, Communication and Press contacts Head of Investor Relations Chief Communication Officer Pauline Bireaud Cécilia de Pierrebourg pauline.bireaud@pluxeegroup.com cecilia.depierrebourg@pluxeegroup.com 16, rue du Passeur de Boulogne investors@pluxeegroup.com 92130 Issy-Les-Moulineaux www.pluxeegroup.
Slide 43: Forward-looking statements
Forward-looking statements This presentation contains forward-looking statements. These forward-looking statements reflect the Group's intentions, current beliefs, expectations and assumptions, including, without limitation, assumptions regarding the Group's future business strategies and the enviro
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