Slide 1: First Half Fiscal 2025 Results
First Half Fiscal 2025 Results April 17, 2025 1
Slide 2: Speakers
Aurélien Sonet Chief Executive First Half Fiscal Officer 2025 results Speakers Stéphane Lhopiteau Chief Financial Officer CONFIDENTIAL ©Pluxee – All rights reserved 2
Slide 3: Presentation agenda
Presentation agenda 01 02 03 04 05 Highlights Pluxee’s key H1 Fiscal 2025 Outlook Appendices growth levers financial performance CONFIDENTIAL ©Pluxee – All rights reserved 3
Slide 4: Highlights
01 Highlights Pluxee’s key growth levers H1 Fiscal 2025 Financial performance Outlook Appendices CONFIDENTIAL ©Pluxee – All rights reserved 4
Slide 5: Consistent commercial and financial performance
Continued execution H1 FY25 commercial of the Group’s 3-year traction in line with full strategic growth plan year objectives Successfully advancing Business dynamics driven the Group’s key initiatives by a strong trend in new including value-creative client acquisitions M&A while driving alongside
Slide 6: Continued delivery of profitable growth over H1 Fiscal 2025
Continued delivery of profitable growth over H1 Fiscal 2025 Total Revenue Recurring EBITDA margin Recurring cash organic growth expansion conversion (3) +10.8% +260bps (1) 76% €225m Recurring EBITDA €635m Total Revenues €171m Recurring +7.2% reported growth 36.4% Recurring EBITDA Free cash flow marg
Slide 7: Sales dynamic propelling business volume
H1 Fiscal 2025 Medium-term achievements business targets New client development on €0.8bn €1.3bn+ track to exceed Development among new clients per fiscal year Fiscal 2024-2026 full-year target in annualized business volume issued Sales Strong Net retention dynamic demonstrating client Above 102% Ab
Slide 8: Sustainability at the heart of the model
Sustainability at the heart of the model Latest recognitions of the Group’s strong commitment to sustainability Trusted Individuals Environment partner and communities B score on Climate Sustainable IT label in France, Great Place to Work after First Carbon Disclosure a national benchmark in Austria
Slide 9: Pluxee's key growth levers
02 Highlights Pluxee’s key growth levers H1 Fiscal 2025 Financial performance Outlook Appendices CONFIDENTIAL ©Pluxee – All rights reserved 9
Slide 10: A balanced growth model fueled by multiple levers
A balanced growth model fueled Organic M&A by multiple levers Proven ability to leverage a multitude of drivers to support revenue mix Business Total Organic growth volume issued Revenues(1) Strong value proposition to untap a large and growing Employee # of clients Benefits and Engagement market Op
Slide 11: Expanding the contribution of new client acquisition
Expanding the contribution Organic M&A of new client acquisition New client development trajectory on track to achieve full-year €1.3bn target €0.8bn Sustained trend of new client wins across all regions, Increasing SMEs New client wins annualized business volumes underscoring: contribution • Large,
Slide 12: Leveraging Pluxee's existing client portfolio
Leveraging Pluxee’s existing Organic M&A client portfolio Strong Net retention rate structurally above 100%+ 102%+ Increase in Net retention rate(1) business volumes Efficient portfolio management leading to further increase in face value across all regions average face value in additional Further i
Slide 13: Leveraging the value proposition to all stakeholders
Leveraging the value proposition Organic M&A to all stakeholders Sustained take-up rate reflecting a high-quality 360° offering Elevated take-up rate in Employee Benefits Clients Merchants +40bps improvement in average take-up rate Creating more value for clients Enhancing the overall merchant over
Slide 14: Accelerating growth through targeted and disciplined M&A
Accelerating growth through Organic M&A targeted and disciplined M&A M&A progressively driving growth synergies Closed in Closed in Closed in June 2024 Sept. 2024 Beneficio Facil March 2025 Strategic partnership Acquisition Acquisition of w/ Santander in Brazil of Cobee in Spain Benefício Fácil in B
Slide 15: H1 Fiscal 2025 Financial performance
Highlights 03 Pluxee’s key growth levers H1 Fiscal 2025 Financial performance Outlook Appendices CONFIDENTIAL ©Pluxee – All rights reserved 15
Slide 16: Sustained momentum in business volumes growth
Sustained momentum in business volumes growth Total business volume issued (BVI) Solid business dynamics in business volumes Employee Benefits BVI trend Q2 Fiscal 2025 H1 Fiscal 2025 driven by Latin America +9.4% organic growth +9.3% organic growth and Rest of the world while Continental Europe refl
Slide 17: Robust business dynamics driven by Employee Benefits
Robust business dynamics Employee Benefits business driven by Employee Benefits performance on track with full year ambition Business volumes growth driven by (i) a robust trend in new client acquisition along Employee Benefits business volume issued (ii) a strong net retention rate year-on-year, as
Slide 18: Solid organic revenue growth in H1 Fiscal 2025
Solid Organic revenue growth in H1 Fiscal 2025 +10.8% Organic revenue growth in H1, in line with expectations and full-year low double-digit objective Total Revenues by nature Solid trend in Operating revenue, partly offset +8.8% organic growth +10.8% organic growth by a high comparison base +6.0% r
Slide 19: Sustained growth dynamics in Operating Revenue
+11.8% Organic operating Sustained growth dynamics revenue growth in Employee Benefits in Operating Revenue Steady growth in business volumes sustained by robust commercial dynamics and continuously improving take-up rate year-on-year Operating revenue evolution by line of services Employee Benefits
Slide 20: Operating revenue growth across regions
Operating revenue growth across regions Organic operating revenue growth in H1 Fiscal 2025 reflecting mixed business dynamics across regions €552m All regions €248m Cont. Europe 45% Moderate growth in Organic growth +10.1% Organic growth +5.0% Continental Europe reflecting reported growth +6.6%(1) r
Slide 21: Float revenue growing in line with expectations
Float revenue growing €83m Float revenue, growing +16.2% on an in line with expectations organic basis Performance driven by a volume effect related to the continuous growth of the Float base, combined with an increased average Balance investment yield year-on-year sheet Float (period-end) €2,753m €
Slide 22: Outstanding further increase in Recurring EBITDA
Outstanding further increase in Recurring EBITDA €225m Recurring EBITDA , reflecting +22.5% organic growth in First Half Fiscal 2025 Recurring EBITDA 36.4% Recurring EBITDA Recurring EBITDA Recurring EBITDA margin margin on an organic basis, +22.5% organic growth +260bps organically +12.0% reported
Slide 23: +55.5% increase in Net profit up to €106m
+55.5% increase in Net profit up to €106m +55.5% increase in Net profit driven by revenue growth, in million euros H1 Fiscal H1 Fiscal Reported continued expansion growth (%) 2025 2024 of the Recurring EBITDA Total Revenues 635 593 +7.2% margin and ongoing Operating expenses (410) (392) normalizatio
Slide 24: Strong Recurring cash conversion rate at 76%
Strong Recurring cash conversion rate at 76% Strong growth in Recurring H1 Fiscal H1 Fiscal in million euros 2025 2024 EBITDA flowing through Recurring EBITDA 225 201 to Recurring free cash flow Capital expenditures (Capex) (43) (68) Capex to Total Revenues ratio 6.7% 11.5% Capex standing at 6.7% of
Slide 25: A robust Net financial cash position of €1,045m
A robust Net financial cash position Net financial cash position of €1,045m standing at €1,045m Positive inflow from Recurring free cash flow, along with the contribution from the disposal Net financial cash position bridge of non-consolidated investments and a favorable currency impact at closing €
Slide 26: Secured capital structure and financial profile
Secured capital structure and financial profile Strengthened balance sheet as of Feb. 28, 2025 Net cash position as of February 28, 2025 Mix in ‘Cash and cash equivalents’ and ‘Current financial assets’ reflecting Total Liquidity: €3,274m the Group’s flexible cash investment strategy, capitalizing o
Slide 27: Outlook
Highlights Pluxee’s key growth levers 04 H1 Fiscal 2025 Financial performance Outlook Appendices CONFIDENTIAL ©Pluxee – All rights reserved 27
Slide 28: Upgrade of Fiscal 2025 Recurring EBITDA margin expansion objective
Upgrade of Fiscal 2025 Recurring EBITDA margin expansion objective with all other objectives reconfirmed Total Recurring EBITDA Recurring cash Revenues margin conversion rate Fiscal 2025 +150bps margin expansion (2) Fiscal 2025 Above 75% Recurring Low double-digit vs. +75bps initially and 2026 cash
Slide 29: Appendices
Highlights Pluxee’s key growth levers H1 Fiscal 2025 Financial performance 05 Outlook Appendices CONFIDENTIAL ©Pluxee – All rights reserved 29
Slide 30: Appendix #1.1 Breakdown of Total Revenues by nature
Appendix #1.1 Breakdown of Total Revenues by nature Revenues by nature in million euros Fiscal Q1 Fiscal Q2 First Half Fiscal Year 2025 2024 2025 2024 2025 2024 Operating Revenue 249 231 303 287 552 518 Organic growth ( %) 12.1% 8.4% 10.1% Currency effect (%) -7.1% -5.3% -6.1% Scope effect (%) 2.8%
Slide 31: Appendix #1.2 Breakdown of Total Revenues by line of service
Appendix #1.2 Breakdown of Total Revenues by line of service Revenues by line of service in million euros Fiscal Q1 Fiscal Q2 First Half Fiscal Year 2025 2024 2025 2024 2025 2024 Employee Benefits 249 224 290 274 539 498 Organic growth ( %) 16.3% 9.8% 12.6% Currency effect (%) -8.9% -6.6% -7.3% Scop
Slide 32: Appendix #1.3 Breakdown of Total Revenues by region
Appendix #1.3 Breakdown of Total Revenues by region Revenues by region in million euros Fiscal Q1 Fiscal Q2 First Half Fiscal Year 2025 2024 2025 2024 2025 2024 Continental Europe 120 108 159 155 279 264 Organic growth ( %) 9.1% 0.7% 4.2% Currency effect (%) -0.1% 0.1% 0.0% Scope effect (%) 1.3% 1.7
Slide 33: Appendix #2.1 Breakdown of Operating revenue by line of service
Appendix #2.1 Breakdown of Operating revenue by line of service Operating revenue by line of service in million euros Fiscal Q1 Fiscal Q2 First Half Fiscal Year 2025 2024 2025 2024 2025 2024 Employee Benefits 212 193 252 238 464 431 Organic growth (%) 14.9% 9.3% 11.8% Currency effect (%) -8.4% -6.5%
Slide 34: Appendix #2.2 Breakdown of Operating revenue by region
Appendix #2.2 Breakdown of Operating revenue by region Operating revenue by region in million euros Fiscal Q1 Fiscal Q2 First Half Fiscal Year 2025 2024 2025 2024 2025 2024 Continental Europe 105 94 144 139 248 233 Organic growth (%) 9.7% 1.8% 5.0% Currency effect (%) -0.1% 0.0% 0.0% Scope effect (%
Slide 35: Appendix #3 H1 Fiscal 2025 exchange rates
Appendix #3 H1 Fiscal 2025 exchange rates Closing rate as of Closing rate as of Variation Average rate for Average rate for Variation Feb. 28, 2025 Aug. 31, 2024 (%) H1 Fiscal 2025 H1 Fiscal 2024 (%) Brazilian real (BRL) 6.07 6.22 2.4% 6.18 5.33 -13.7% Pound sterling (GBP) 0.83 0.84 1.8% 0.83 0.86 3
Slide 36: Appendix #4 Number of shares as of February 28, 2025
Appendix #4 Number of shares as of February 28, 2025 February 28, August 31, in number of shares 2025 2024 Group’s share capital 147,174,692 147,174,692 Treasury shares 1,697,627 1,258,683 Number of shares for EPS calculation 145,768,614 146,517,613 (Basic weighted average number of shares) Special
Slide 37: 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 employees Annualized business volumes issued from volume issued, when cards, digitally and consumers from an existing client the new Employee
Slide 38: Appendix #6.1 Key Alternative Performance Measures (APM)
Appendix #6.1 Key Alternative Performance Measures (APM) ORGANIC REVENUE GROWTH RECURRING EBITDA ADJUSTED NET PROFIT Organic revenue growth is calculated Recurring EBITDA is used to assess Adjusted net profit serves as the basis as growth in the current period, calculated the performance of reported
Slide 39: 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 (LGO) The Recurring free cash flow measures the Float-related cash corresponds net cash generated from operations that is Recurring Liquidity Generated by
Slide 40: Fiscal 2025 upcoming financial calendar
Fiscal 2025 upcoming financial calendar July 3 October 30 December 17 2025 2025 2025 Third quarter Fiscal Annual Fiscal Fiscal 2025 Annual 2025 revenues 2025 results Shareholders' Meeting CONFIDENTIAL ©Pluxee – All rights reserved 40
Slide 41: About Pluxee
€24 bn About Pluxee Business volume issued as of Fiscal 2024 5,415 Employees as at August 31, 2024 Pluxee is a global leader in Employee Benefits and Engagement that operates in 29 countries. 29 Pluxee shapes the world of employee benefits Powered by leading technology and more Countries and engagem
Slide 42: IR, Communication and Press contacts
IR, Communication and Press contacts Head of Investor Relations Chief Communication Officer PAULINE BIREAUD CÉCILIA DE PIERREBOURG +33 (0)6 22 58 83 51 + 33 (0)6 03 30 46 98 pauline.bireaud@pluxeegroup.com cecilia.depierrebourg@pluxeegroup.com 16, Rue du Passeur de Boulogne investors@pluxeegroup.com
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
Slide 44: CONFIDENTIAL ©Pluxee – All rights reserved
CONFIDENTIAL ©Pluxee – All rights reserved 44