W.a.g. Payment Solutions Plc · LSE:EWG
W.a.g. Payment Solutions — Eurowag — Investor Presentation (2026)
26 slides from W.a.g. Payment Solutions's investor presentation, Apr 13, 2026
Slide 1: Investor Presentation
Investor Presentation Go far. / eurowag.com Copyright © 2025, W.A.G. payment / eurowag.com solutions, Go far. a.s.
Slide 2: Disclaimer
Disclaimer This presentation comprises certain written materials/slides prepared by W.A.G payment solutions plc (the Company) for the purposes of the Company’s investor relations presentation. This document, its contents and the presentation may not be copied, distributed, published, reproduced or p
Slide 3: Transforming the European CRT industry
Transforming the European CRT industry Go far. / eurowag.com Copyright © 2025, W.A.G. payment solutions, a.s. 3
Slide 4: Trucking is an essential pillar of the economy
Trucking is an essential pillar of the economy Transport split as % share European CRT Trucks in gross tonne km 6% € 9m Heavy commercial vehicles – International 10% - 15% • >12 tonne 19% • ~130,000km p.a. mileage 75% >9m ~5% ~20m Heavy commercial vehicles – Domestic Commercial of European CRT2 rela
Slide 5: The CRT industry needs a digital and operational transformation
The CRT industry needs a digital and operational transformation Low Low Environmental Analogue Complex Fragmented Constrained profitability utilisation impact <13% 30+ >90% Limited 3-5% 20% >9% of road transport administrative tasks of operators are access to finance margins of greenhouse gas trucks
Slide 6: Eurowag is a leading technology company and an important partner to Europe's Commercial Road Transport industry
Eurowag is a leading technology company and Founded Employees Countries of operation an important partner to Europe’s C ommercial Road Transport industry, with a purpose to 1995 ~2,00 0 25 make it clean, fair and efficient. Alternative Active trucks Fuel stations fuel stations 322k ~17k ~2.2k Countr
Slide 7: Years of driving together
of driving together Eurowag Electronic solution established for toll Digital Platform is live with 1995 2006 35% customers actively using the platform as at Q1 2026 2000 Licence of EETS EVA Energy payments Live + Initial migration provider onboard unit via mobile app of customers Launched EW Payment
Slide 8: The Opportunity
The Opportunity Our customers pain - points: Fragmented commercial road transportation ecosystem • Fragmented & analogue Fleet and Energy & toll Finance & Original equipment Regulators Shippers & freight transport payments insurance manufacturers & authorities operators • Complex workflows managemen
Slide 9: Track record of consistent growth
CONFIDENTIAL - INTERNAL Track record of consistent growth Attract FY25: +6.4% to 321.5k trucks Engage FY25: +3.8 pts to 43.8pts Active trucks (000’s) Net Promoter Score (p ts ) 8% CAGR 43.8 321.5 +3.1pts 302.1 274.7 40.7 40.0 256.8 39.0 2022 2023 2024 2025 2022 2023 2024 2025 Monetise FY25: +0.1 to
Slide 10: Our growth journey
Our growth journey 2027 + Ecosystem at scale 2026 • 2027: complete EW Office Migration Year migration 2025 • Become the operating system of 2026 Guidance1: our customers Eurowag Office Live 2016 2025 • Majority of customers migrated • Cross-sell and subscription • Rule of 50 onto the platform bundle
Slide 11: Financial results
Financial results Go far. / eurowag.com Copyright © 2025, W.A.G. payment solutions, a.s. 11
Slide 12: FY 2025 financial highlights
FY 2025 financial highlights Strong growth, cash flow generation, and reduced leverage Net revenue Adj. EBITDA 1 Adj. cash EBITDA 1,2 Adj. Profit Before Tax 1 +12.9% +8.5% +10.5% +11.0% €330.1m €132.1m €98.0m €51.4m Margin 40.0% Margin 29.7% Adj. basic EPS 1 Capitalised R&D Special dividend Net leve
Slide 13: Consistently delivering strong growth
Consistently delivering strong growth Toll as main revenue stream, growing 52% year-over-year Net revenue growth: +12.9% yoy Adj. cash EBITDA 2 (€m) • Payments: +20.1% • Mobility: +5.5% excl. Non-CRT1 Mobilty 330.1 24% CAGR 98.0 Subscription (Mobility) Mobility 292.5 50.3 21% CAGR 15% 88.7 Toll 256.
Slide 14: Solid Adjusted cash EBITDA & stable margins, despite increased investments in people and platform
Solid Adjusted cash EBITDA & stable margins, despite increased investments in people and platform 29.6 1% 29.7% Margin Margin 2024 2025 (€m) 37.6 0.9 (12.5) (8.1) 98.0 • Increased headcount to (6.4) 88.7 support the business • 5.4% salary inflation 86.5 1 2 +13.3% 2024 Revenue Credit Employee 3 Tech
Slide 15: Investing in a Data-Driven, Scalable Platform
Investing in a Data - Driven, Scalable Platform Continued development of the EW Office and its Capital expenditure (€m) products 56.5 Capitalised R&D 1 €41.4m 5.3 • €28.3m invested in EW Office platform Infrastructure 46.0 and its products 9.8 3.8 OBU • €13.1m invested in technology & data 7.2 OBUs
Slide 16: Robust cash generation; leverage now 1.9x
Robust cash generation; leverage now 1.9x (€m) Net leverage Net leverage 2.3x 1.9x Free cash: €177.9m (FY 2024: €147.3m ) 275.5 10.1 216.2 11.3 5.3 2.0 11.6 24.3 54.0 (132.1) 10.3 17.9 (52.2) (21.8) FY 2024 Adjusted Working Non-cash items Net Tax Capital Dividends FX Adjusted items Lease Acquisition
Slide 17: Balanced capital allocation with capital discipline
Balanced capital allocation with capital discipline 1 Organic growth Investing in a modern, scalable and AI enabled platform 2 Deleverage Solid Financial Structure • FY 2025: • FY 2025: 1.9x net leverage1 • Capitalised R&D €41.4m • Total capex €56.5m • Guidance2: net leverage below 2.0x • Guidance:
Slide 18: FY 2026 guidance
FY 2026 guidance Low-double digit net revenue growth Net revenue Outlook Adjusted EBITDA % Adjusted EBITDA margin ~40% 2026 is the year of migration. Adjusted cash We are laser-focused to have the In the range of €105m - €115m EBITDA 1 majority of our customers actively using the platform by the end
Slide 19: Appendix
Appendix Go far. / eurowag.com Copyright © 2025, W.A.G. payment solutions, a.s. 19
Slide 20: 18 years of uninterrupted growth
18 years of uninterrupted growth Eurowag’s 370 Net revenue 362 120 Brent Oil Price ($/bbl) 330 320 100 293 270 257 80 Brent Oil Price ($/bbl) 220 Net revenue €m 191 60 170 153 129 40 115 120 74 20 70 60 41 EU GDP Growth (%) 26 35 14 15 20 0 20 6 9 11 4 2007 2008 2009 2010 2011 2012 2013 2014 2015 20
Slide 21: Revenue model
Revenue model Payment solutions Mobility solutions Re-occurring transaction-based revenue streams Recurring subscription and other fee-based revenue streams Energy payments # of transactions Transport Fleet Work time (x) management management management average units per transaction (x) Subscription
Slide 22: Strategic priorities focused on key value drivers
Strategic priorities focused on key value drivers Attract & Engage Customer acquisition cost Customer through digital and indirect channels lifetime value ARPU No. of active trucks through cross sell; platform enables acceleration >321,500 Today Retention ~2.8 No. of products per active truck Moneti
Slide 23: Net revenue geographical split
Net revenue geographical split Southern Cluster Central Cluster Czech Republic 4% 14% Poland Other Central Cluster 23% Portugal 15% 19% Other Western Cluster Romania 28% w 28% 15% Other Southern Cluster 14% 13% Not specified 6% 13% 4% 4% 10% 5% Western Cluster Note: Percentage represents proportion
Slide 24: Where many become one
Where many become one Ew EUROWAG jl WebEye Drivitty @Dizpecer- DS Fars. T ingto | CWS fireTMS _ _ mm A EVvV i tdi Office € Sygic Leet Mile RAEMON TAX ia { @2)PRINCIP K|KomTes ‘ m Aldobec
Slide 25: Building a technology platform; enabling us to scale
Building a technology platform; enabling us to scale Direct Indirect Digital • Office Web Portal • Office App • Navigation • Transport management • Financing and Payments • Fleet management • Tax • Work time management • Toll • Customer data base • Ordering services • Reporting • Pricing services •
Slide 26: Contact us for further details
Contact us for further details: investors@eurowag.com Go far. / eurowag.com Copyright © 2025, W.A.G. payment solutions, a.s. 26