Slide 1: Q3 and 9M 2023 financial results
3 November 2023
Slide 2: Disclaimer
The information contained in this document (the “Information”) has been prepared by ALD (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 wh
Slide 3: Content
Content ~) © Highlights Q3 2023 financial results S) 4) Outlook Appendix A
Slide 4: 1 Highlights
Slide 5: Highlights of the quarter
impacted by the transition to EV and inflation Publication of strategic Largest global multi- Net income, Group CET 1 ratio(5): Largest bond issuance and financial objectives brand EV fleet: share(5): ever: as at 30 Sept 2023 Launch of new mobility 19% of funded fleet Total bonds issued brand year-t
Slide 6: Earning assets, fleet and passenger car deliveries by powertrain
Earning assets Total fleet Passenger car deliveries by as at 30 September 2023 (in EUR bn) as at 30 September 2023 ('000) powertrain (EU+)(4) in 9M 2023 50,2 Funded fleet Fleet management 5 6 7 8 BEV PHEV ICE Others +3.8% 3 394 16% 3 269 29% +5.3% 703 +14.1% 667 50% 44,0 49% 2 691 +3.4% 2 602 EV 5,6
Slide 7: Q3 2023 financial results
(2) Q3 2023 financial % results "® af,
Slide 8: Q3 2023 income statement
1. LeasePlan is consolidated from acquisition closing, i.e. 22 May 2023. Consequently, Q3 2023 includes LeasePlan’s contribution for the full quarter, whereas Q3 2022 does not include any contribution from LeasePlan. 8 Pending the finalization of the Purchase Price Allocation exercise, expected by e
Slide 9: Gross operating income, margins, UCS result, expenses, net income
Gross operating income(1) Leasing contract and Services margins Used Car Sales result(2) 250,0 0 3 014 3500 +25.4% +61.6% 3000 200,0 0 2500 In EUR m In EUR m in EUR m 150,0 0 2000 100,0 0 1 033 1500 1000 50,00 649,6 814,9 458,6 741,0 191,0 73,9 500 0,00 0 Q3 2022 Q3 2023 Q3 2022 Q3 2023 Q3 2022 Q3 2
Slide 10: ALD used car sales result
ALD used car sales result(1) (in EUR m) ALD UCS result per unit sold(1)(2) (in EUR) ALD used cars sold(1)(2) (‘000 units) 3 607 3 054 3 102 -37,6 -42,7 2 614 2 346 -73,3 3 014 -89,3 -93,9 2 535 191,0 190,5 75,2 1 919 70,5 71,5 123,9 94,9 73,9 1 346 63,4 64,6 1 033 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3
Slide 11: Like-for-like illustrative view
1. Management information. For illustration purposes, this section provides a like-for-like illustrative view of: - Q3 2023 income statement, including LeasePlan’s reduction in depreciation costs and UCS results (whereas both are excluded in the reported Q3 2023 income statement, pending the finaliz
Slide 12: Q3 like-for-like leasing contract and services margins
Q3 2022 Q3 2023 Variation Variation % In EUR million ALD LeasePlan Ayvens ALD LeasePlan Ayvens ALD LeasePlan Ayvens ALD LeasePlan Ayvens Leasing contract and services margins(1) (a) 438.4 661.3 1,099.7 457.5 400.5 858.0 19.1 -260.8 -241.7 4.4% -39.4% -22.0% Reduction in depreciation costs 67.2 192.7
Slide 13: Leasing contract and services margins, used car sales result
Q3 2022 Q3 2023 Variation Variation % In EUR million ALD LeasePlan Ayvens ALD LeasePlan Ayvens ALD LeasePlan Ayvens ALD LeasePlan Ayvens Leasing contract and services margins(1) (a) 438.4 661.3 1,099.7 457.5 400.5 858.0 19.1 -260.8 -241.7 4.4% -39.4% -22.0% Reduction in depreciation costs 67.2 192.7
Slide 14: Total operating expenses and cost to achieve
Q3 2022 Q3 2023 Variation Variation % In EUR million ALD LeasePlan Ayvens ALD LeasePlan Ayvens ALD LeasePlan Ayvens ALD LeasePlan Ayvens Total operating expenses -211.5 -245.9 -457.4 -207.2 -241.5 -448.7 4.2 4.4 8.6 -2.0% -1.8% -1.9% Cost to achieve -42.6 0.0 -42.6 -29.0 -11.0 -40.0 13.6 -11.0 2.6 C
Slide 15: 2.3 Regulatory capital
2.3 Regulatory capital A
Slide 16: CET1 ratio evolution
12,5% 12,3% +4.2 +0.5 56.0 54.3 -1.2 -0.5 -1.3 33 44 30 June 2023 30 September 2023 1 2 1 2 1. Effective since 16 August 2023 16 2. Closing on 1 August 2023 3. Reduction in Credit Conversion Factor (CCF) on order book and other optimization initiatives 4. Earning assets growth and reduction in order
Slide 17: 3 Outlook
(3) Outlook
Slide 18: Outlook
vs. end Dec 2022 (3) No UCS result 1. On a like-for-like basis 18 2. Including the negative impact of reduction in depreciation costs in previous quarters 3. Assumption due to fair value recognition in the PPA, expected to be finalized by end 2023
Slide 19: 4 Appendix
Slide 20: Q3 2023 income statement
1. LeasePlan is consolidated from acquisition closing, ie 22 May 2023. Consequently, Q3 2023 includes LeasePlan’s contribution for the full quarter, whereas Q3 2022 does not include any contribution from LeasePlan. 20 Pending the finalization of the Purchase Price Allocation exercise, expected by en
Slide 21: Consolidated balance sheet
30 September 30 June 31 December In EUR million 2023 2023 2022(1) Earning assets 50,221 48,633 23,943 o/w Rental fleet 47,991 46,409 23,227 o/w Financial lease receivables 2,230 2,224 716 Cash & Cash deposits with the ECB 4,565 5,546 253 Intangibles (incl. goodwill) 2,991 2,925 745 Operating lease a
Slide 22: Q3 2023 results detail
Q3 2023(1) Q3 2022(2) Var. Var. % • Leasing contract and Services margins at EUR In EUR million Q3 2023 vs. Q3 2023 vs. Q3 2022 Q3 2022 741.0m • Contribution of LeasePlan(4): EUR 349.7m Total contracts ('000) 3,394 1,762 1,632 92.6% • Reduction in depreciation costs(5): Full service leasing contract
Slide 23: 9M 2023 results detail
9M 2023(1) 9M 2022(2) Var. Var. % • Leasing contract and Services margins at In EUR million 9M 2023 vs. 9M 2023 vs. 9M 2022 9M 2022 EUR 1,996.5m • Contribution of LeasePlan(4): EUR 499.4m Total contracts ('000) 3,394 1,762 1,632 92.6% • Reduction in depreciation costs(5): EUR +425.7m Full service le
Slide 24: Reduction in depreciation costs mechanism
1 Depreciation curve 2 Leasing contract margin 3 Reduction in depreciation costs lowering UCS 428,1 result Contractual H1 2023 valuation 401,8 366,6 326,2 308,1 152,5 Net book value 273,4 220,3 62,7 162,8 110,4 In EUR m 67,2 in EUR m -37,6 -42,7 -73,3 245,4 249,3 -89,3 206,2 207,9 203,8 215,8 217,4
Slide 25: Non-operating items and non-recurring items
Q3 2022(1) Q3 2023 9M 2022(1) 9M 2023 In EUR million ALD Ayvens ALD Ayvens Leasing contract margin o/w Reduction in depreciation costs 67.2 110.4 130.0 425.7 o/w Non operating items 41.3 (56.5) 89.3 37.4 Fleet revaluation 19.0 3.3 59.6 20.4 Hyperinflation in Turkey 17.0 45.9 56.5 65.7 Provision in U
Slide 26: Derivatives and hedging
• While the Group is economically hedged, there • Interest rate and currency profile of funding are can be accounting mismatches when derivatives • MtM as at 30 September 2023: EUR +216m matched with the lease contract portfolio profile as do not qualify for hedge accounting and are fair • Sensitivi
Slide 27: Quarterly income statement
(in EUR million)1 Q1 2022(2) Q2 2022(2) Q3 2022(2) Q4 2022(2) Q1 2023 Q2 2023(3) Q3 2023 Leasing Contract Margin 171.4 308.1 273.4 428.1 366.6 401.8 326.2 Services Margin 160.0 172.6 185.1 197.3 174.5 312.6 414.8 Leasing Contract and Services Margins 331.5 480.8 458.6 625.5 541.1 714.3 741.0 Used Ca
Slide 28: Annual income statement
(in EUR million)1 2015 2016 2017 2018 2019 2020(2) 2021 2022(3) Leasing Contract Margin 431.6 514.1 574.5 623.8 664.1 604.4 732.8 1,181.2 Services Margin 534.0 528.6 593.0 616.7 632.3 652.0 650.0 715.1 Leasing Contract and Services Margins 965.6 1,042.7 1,167.5 1,240.5 1,296.4 1,256.4 1,382.8 1,896.
Slide 29: Basic and diluted EPS
Basic EPS 9M 2023 9M 2022 Existing shares 816,960,428 404,103,640 Shares allocated to cover stock options and shares awarded to staff -1,114,336 -1,045,448 Treasury shares in liquidity contracts -146,298 -106,258 End of period number of shares 815,699,794 402,951,934 Weighted average number of share
Slide 30: ROTE calculation
in EUR million Q3 2023 Q3 2022 9M 2023 9M 2022 Group shareholders' equity 10,841.3 5,457.1 10,841.3 5,457.1 AT1 capital (750.0) 0.0 (750.0) 0.0 Dividend provision and interest on AT1 capital(1) (399.2) (465.4) (399.2) (465.4) OCI excluding conversion reserves (8.5) (40.1) (8.5) (40.1) Equity base fo
Slide 31: Regulatory capital and ratios
in EUR million 30 September 2023 30 June 2023 Group shareholder’s equity 10,841 10,585 AT1 capital (750) (750) Dividend provision & interest on AT1 capital(1) (399) (280) Goodwill and intangible (2,991) (2,925) Deductions and regulatory adjustments 196 153 Common Equity Tier 1 capital 6,897 6,783 AT
Slide 32: Net asset value per share
in EUR million 30 September 2023 30 June 2023 Group shareholders' equity 10,841 10,585 Deeply subordinated and undated subordinated notes (750) (750) Interest of deeply subordinated and undated subordinated notes (1) (19) (0) Book value of treasury shares 18 18 Net Asset Value (NAV) 10,091 9,853 Goo
Slide 33: 9M like-for-like illustrative view
1. Management information. For illustration purposes, this section provides a like-for-like view of: - 9M 2023 income statement with LeasePlan included over the full period (whereas LeasePlan was consolidated from 22 May 2023 only), including LeasePlan’s reduction in depreciation costs and UCS resul
Slide 34: 9M leasing contract and services margins
in EUR million 9M 2022 9M 2023 var. var. % Leasing contract and services margins(1) (a) 2,804.2 3,084.1 279.9 10.0% Reduction in depreciation costs 322.7 904.1 581.4 Fleet revaluation 59.6 20.4 -39.2 Hyperinflation in Turkey 115.3 86.8 -28.5 Ukraine provision -25.0 0.0 25.0 MtM of derivatives 259.2
Slide 35: 9M margins, UCS and gross operating income
in EUR million 9M 2022 9M 2023 Var. Var. % Leasing contract and services margins(1) (a) 2,804.2 3,084.1 279.9 10.0% Reduction in depreciation costs 322.7 904.1 581.4 Non-operating items 409.1 37.1 -372.0 Leasing contract and services margins excluding (b) 2,072.4 2,143.0 70.6 3.4% non-recurring item
Slide 36: 9M operating expenses
in EUR million 9M 2022 9M 2023 var. var. % Total operating expenses -1,294.6 -1,476.5 -182.0 14.1% Cost to achieve -83.9 -125.0 -41.1 Consultancy costs -46.8 0.0 46.8 Transaction and rebranding costs 0.0 -14.8 -14.8 Reversal on entities transferred to discontinued operations 0.0 0.0 0.0 Total non-re
Slide 37: Leasing contract margin and non-recurring items
Q3 2022 Q3 2023 9M 2022 9M 2023 In EUR million Leasing contract margin o/w Reduction in depreciation costs 259.9 227.4 322.7 904.1 o/w Non operating items 148.3 (56.5) 409.1 37.1 Fleet revaluation 19.0 3.3 59.6 20.4 Hyperinflation in Turkey 30.0 45.9 115.3 86.8 Provision in Ukraine 1.8 - (25.0) - Mt
Slide 38: Societe Generale Group
SOCIETE GENERALE GROUP