Ayvens · EURONEXT:AYV
Ayvens — FY2025 Earnings Presentation
33 slides from Ayvens's earnings presentation, Feb 6, 2026
Slide 1: Q4 and Full Year 2025 results
results _ Aayvens a
Slide 2: 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 indirectly, in
Slide 3: Contents
Contents (1) Highlights (2) FY 2025 and O4 2025 financial results A
Slide 4: Highlights
Slide 5: Delivering value to shareholders
Delivering value to shareholders Key financial performance indicators Margins © 532bps Net used car sales result per unit @ EUR 508 Gross used car sales result per unit © EUR 1,455 Underlying C/I ratio 63.2% Net income group share EUR 996m EUR 684m 12.9% 8.6% Strong capital position CET 1 ratio at 1
Slide 6: Key achievements in 2025
6 Key achievements in 2025 Deliver the financial roadmap 2025 performance 2025 guidance CTA® UCS result per unit 2 Strong focus on profitabi balance sheet protecti Successful reshaping of Ayvens’ footprint towards more profitable customers Strengthening of asset management thanks to strict residual
Slide 7: Fleet and earning assets
7 Fleet and earning assets Earning assets in EUR bn in ‘000 vehicles in EU+ Funded fleet Fleet management mBEV = PHEV MICE sHybrids m Others 85.6 52.6 53.0 3,281 3,193 3,175 oe 654 650 - - - 1% : = Dec.24 Sept.25 dec.25 Dec.24 Sept.25 Dec.25 SS) FY 2024 FY 2025 SS) 1. Management information 2. Dec.2
Slide 8: Improving financial results across all P&L lines
Improving financia results across all P&L lines Full year income statement In EURM 2025 2024 Change Leasing & services margins 2,944 2,697 9.1% Net UCS result 4u 317 29.6% Gross operating income 3,355 3,014 11.3% Operating Expenses (1,826) (1,899) -3.9% Cost of risk (113) (129) -12.2% Other expense
Slide 9: FY 2025 and Q4 2025 financial results
Slide 10: 2025 strong performance across all P&L items
2025 strong performance across all P&L items Margins in EUR m and in bps 3,014 2,812 Underlying margins u Net used car sales result in EUR m and per unit EUR 703 — er ui Ge.) “ 317- 908 cross UCS result Depreciation STIS Non-recurring items 7) adjustments FY 2024 FY 2025 FY 2024 FY 2025 10 Operating
Slide 11: Revenues trending higher in 2025
in EURM Revenues trending higher in 2025 Gross Operating Income 855 851 819 Leasing & Services margins Net UCS result 143 m 5 aa Q4 2024 =©Q12025 922025 a3 2025 ™ Gross Operating Income ™ Leasing & Services margins mNet UCS result il 752 731 782 | 46) 44) 7 (5) Q4 2025 Q4 2024 Q12025 Q22025 32025 42
Slide 12: Improved margins throughout 2025
Improved margins throughout 2025 wonvie SD : Margins in EUR m | 675 (708 7 S67 Underlying margins at EUR 749m: up by EUR 28m vs. Q4 2024 despite decrease in earning assets (V} Q4 2025 margins at 567 bps up 26 bps vs. Q4 2024 a 752 731 7B 749 =aeT a i 2 042024 = 12025 = 22025 = 3 2028 = 04.2025 m Lea
Slide 13: Normalization of UCS result offset by lower depreciation adjustments
Normalization of UCS result offset by lower depreciation adjustments Result per unit sold (in EUR) UCS result in EUR m 239 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 = = Gross UCS result per unit sold Net UCS result per unit sold © in ‘000 units Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Used cars sold” 1
Slide 14: Cost to income ratio better than guidance
Cost to income ratio better than guidance Full year 2025 Cost/Income ratio at 56.1% Operating expenses 475 473 in EUR m 36 Underlying expenses in Q4 2025 decrease 477 ti 447 429 ; : by 3.1% vs 04 One-off impairment of IT assets in Q4 421 412 420 2025 for EUR -23m a4 Qi a2 Q3 Q Q4 2024 Q1 2025 Q2 202
Slide 15: Q4 2025 net income group share up 45% vs. Q4 2024
Q4 2025 net income group share up 45% vs. Q4 2024 Cost of risk (in EUR m) Profit before tax (in EUR m) : Net income group share (in EUR m) 20.9% 30.0% 29.5% 29.7% 26.9% 13.7% 143% 12.3% 11.0% 7.8% 27 23 20 21 21 042024 012025 022025 032025 042025 42024 Q12025 a22025 32025 42025 42024 12025 Q22025 32
Slide 16: Strong capital generation
Strong capital generation RWA (in EUR bn) evolut $3.7 $4.3 0.5 oe | -0.4 -0.5 "oq % sy SS ee a ee o we o* BEE em? w s ot Sone co +163 bps -65 bps || ~61 bps + 33 bps +17 bps “nes ag L 4005 33.2% — ax * age N os aN ° ge AOD ooo Oo at oot so ys god ge ote AP 0a go Gv se OP eM CoP™ 30% ov" JOP 00 ge nt
Slide 17: Outlook
(3) Outlook
Slide 18: Outlook 2026
—_( Outlook 2026 PowerUP 2026 financial targets »: tC contimes | Cost / Income ratio” Annual gross synergies c.52% EUR 440m ROTE | CET 1 ratio | Dividend payout 13%-15% c.12% 50% ax Strategic focus on profitability wy, +6% CAGR 23-26 Earning assets Gross UCS result per unit EUR 200 - 600 Costs to ac
Slide 19: Appendix
Slide 20: Balance sheet as at December 2025
Balance sheet as at 31 December 2025 in EUR million 31 December 2025 31 December 2024 Earning assets 53,045 53,565 o/w Rental fleet 51,168 51,550 o/w Finance lease receivables 1,877 2,015 Cash & Cash deposits with the ECB 2,045 5,023 Intangibles (incl. goodwill) 2,737 2,791 Operating lease and other
Slide 21: Q4 2025 financial results
Q4 2025 financial results Vv Var. % aur Q4 2025 4 2024” Q4 20: Q4 2025 vs. Q4 2024 _vs. Q4 2024 Total contracts (‘000) 3,175 3,281 (106) -3.2% Full service leasing contracts 2,525 2,609 (84) -3.2% Fleet management contracts 650 672 (22) -3.3% In EUR million Leasing margin 345.2 297.8 47.4 15.9% Serv
Slide 22: FY 2025 financial results
22 FY 2025 financial results in EUR million FY 2025 Fy 2024 Var. Fy 2025 vs. FY 2024 Var. % FY 2025 vs. FY 2024 Total contracts ('000) 3,175 3,281 (106) -3.2% Full service leasing contracts 2,525 2,609 (84) -3.2% Fleet management contracts 650 672 (22) -3.3% In EUR million Leasing margin 1,263.7 1,0
Slide 23: Earnings per share (EPS)
23 Earnings per share (EPS) Basic EPS FY 2025 FY 2024 Existing shares 783,862,091 816,960,428 Shares allocated to cover stock options and shares awarded to staff ($67,562) (839,734) Treasury shares in liquidity contracts (115,372) (159,221) End of period number of shares 783,179,157 815,961,473 Weig
Slide 24: Return on tangible equity (ROTE)
Return on tangible equity (ROTE) in EUR million 04 20: 04 20 FY 2025 FY 2024 Group shareholders’ equity 1,010.6 1,135.3 1,010.6 1,135.3 AT1 Capital (750.0) (750.0) (750.0) (750.0) Interest on AT1 capital (37.2) (37.6) (37.2) (37.6) Distribution provision (462.5) (302.3) (462.5) (302.3) OCI excluding
Slide 25: Tangible book value per share
25 Tangible book value per share in EUR 31 December 2025 31 December 2024] Group shareholders’ equity 1,010.6 1,135.3, AT1 capital (750.0) (750.0) Interest on AT1 capital (37.2) (37.6) Book value of treasury shares 12.3 15.3 Net Asset Value (NAV) 10,235.8 10,363.0 Goodwill (2,127.5) (2,128.3) Intang
Slide 26: CRR3/CRD6 prudential capital ratios and RWA
CRR3/CRD6 prudential capital ratios and RWA in EUR ion 31 December 2025 30 September 202! Group shareholders’ equity 11,011 11,459 AT1 capital (750) (750) Distribution provision & interest on ATI capital (S00) (1,092) Goodwill and intangible assets (2,737) (2,768) Deductions and regulatory adjustmen
Slide 27: Non-recurring items and depreciation adjustments
27 Non-recurring items and depreciation adjustments Non-recurring items - Margins in EUR million FY 2024 FY 202: MtM of derivatives and breakage costs -28 -16 Hyperinflation in Turkey -69 -88 Impact of PPA -10 -12 UK commissions -18 - Countries one off provisions 10 - Agreement with the Lincoln cons
Slide 28: Quarterly series
Quarterly series in EUR million) 12024 a3 2024 | 042024 3 2025 | a4 2025 Leasing margin 2 77.6 281.2 260.2 231.7 297.7 265.1 307.7 345.8 345.2 Services margin® 388.4 407.4 426.7 414.8 3775 443.3 404.4 430.4 402.1 Leasing and Services margins 466.1 688.6 686.9 646.5 675.2 708.4 712.1 776.2 747.3 Used
Slide 29: Yearly series
29 . Yearly series (joruaminy se || |__| ee | eee || oe |e] Leasing margin (0 558.1 613.1 643.7 643. 683.0 758. 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 2,026.4 2
Slide 30: Glossary
Glossary BEV Earning assets EU+ EV ICE Hybrids MDA Other powertrains PHEV 30 Battery Electric Vehicles Net carrying amount of the rental fleet plus receivables on finance leases European Union, UK, Norway, Switzerland Electric Vehicles Internal Combustion Engine: Petrol and Diesel Mild and full hybr
Slide 31: ESG ratings
Gold medal Top 2% Carbon management level: Leader Low risk - Top 1% Rank : 2/352 10.2 negligible low medium high severe in transportation Provisional rating, under review Advanced Rank 4/98 in “Business Support Services EU” sector Top 30% Rated “Prime” on sustainability performance Top 20% in the se
Slide 32: Financial calendar
Agenda C-O-&-©-O)-©-) Q1 2026 results 30 April 2026 Annual General Meeting 13 May 2026 Dividend detachment 20 May 2026 Dividend payment 22 May 2026 Q2 2026 results 30 July 2026 Capital Markets Day 21 September 2026 Q3 2026 results 29 October 2026 Alayvens
Slide 33: Societe Generale Group
SOCIETE GENERALE GROUP