Strong Q1 2026 financial results, on track to achieve PowerUP 2026 targets

About this update from Ayvens

NET INCOME GROUP SHARE OF EUR 266 MILLION, UP 21.2% VS. Q1 2025  RETURN ON TANGIBLE EQUITY (ROTE) AT 13.9% VS. 11.0% IN Q1 2025 EPS 1 AT EUR 0.31 UP 29% VS. Q1 2025 Q1 2026 RESULTS 2 Leasing and Services margins at EUR 757 million, up 6.9% vs. Q1 2025 Underlying margins 3 at 587 bps of average earning assets vs. 562 bps in Q1 2025 Net Used Car Sales result 4 at EUR 59 million down 46.9% vs. Q1 2025 Gross UCS result per unit 5 at EUR 470, in line with 2026 guidance Synergies 6 at EUR 110 million, up from EUR 61 million in Q1 2025, on track to achieve PowerUP 2026 target of EUR 440 million for full year 2026 Cost to income ratio 7 at 54.0%, down 4 percentage points vs. 58.0% in Q1 2025 Earning assets 8 at EUR 52.5 billion, -1.8% vs. March 2025 CET1 ratio at 13.9% as at end March 2026 “Ayvens delivered once again a strong set of financial results with a better mix of revenues, as higher margins offset the anticipated normalization of used car result. The Group has continued to deliver on its integration roadmap, translating into the continued ramp-up in revenue and cost synergies across the organization . All these actions pave the way towards a more efficient company, focused on customer satisfaction and operational excellence, geared towards sustainable profitability and value creation for all its stakeholders. With a cost to income ratio at 54.0% and a ROTE at 13.9% in Q1 2026, Ayvens is well positioned to reach its PowerUP 2026 targets.” Q1 2026 FINANCIAL RESULTS     Fleet and earning assets Earning assets stood at EUR 52.5 billion vs. EUR 53.5 billion as at end March 2025.   Ayvens’ total fleet amounted to 3.077 million vehicles, down 5.0% 9 year-on-year reflecting the continued impact of the portfolio review focusing on value rather than volume and the proactive actions taken to restore profitability on both full-service leasing and fleet management activities. Full-service leasing contracts reached 2,494 thousand vehicles, down 3.3% 8 year-on-year. Deliveries per powertrain 10 showed stability of BEV 11 penetration at 29% vs. 28% in Q1 2025 whereas PHEV 11 and hybrids 11 penetration increased to 12% and 29% respectively vs. 9% and 26% in Q1 2025. ICE penetration was down to 27% vs. 35% in Q1 2025. The progressive transition to a greener fleet resulted in a reduction of CO 2 emissions of the funded fleet, reaching 99 g/km as at end March 2026, already within the range of the Group’s commitment for 2026. Fleet management contracts reached 583 thousand vehicles, a decrease of 11.9% vs. Q1 2025. This decrease is very largely due to the non-renewal of one large contract which was not in line with the Group’s expected profitability. Income statement Ayvens’ net income group share stood at EUR 266 million, marking an increase of 21.2% vs. Q1 2025. Overall, this good performance resulted from a stable gross operating income, at EUR 816 million vs. EUR 819 million in Q1 2025, and lower operating expenses, at EUR 422 million vs. EUR 473 million in Q1 2025. This highlights again a thorough monitoring of the development of the company balancing growth with profitability and the management of asset risk. The performance in Q1 2026 also demonstrates the growing benefits of the LeasePlan acquisition. Gross operating income Gross operating income reached EUR 816 million, broadly stable compared to Q1 2025, with higher margins offsetting lower net used car sales result. The ramp-up in synergies continued according to plan, with EUR 65 million in gross revenues synergies on procurement, in insurance and remarketing, vs. EUR 42 million in Q1 2025, reflecting the continued disciplined execution of LeasePlan’s integration. Leasing contract and Services margins Leasing and Services margins reached EUR 757 million, an increase of 6.9% compared to Q1 2025. Underlying margins are trending higher at EUR 775 million, showing an increase of 3.0% vs. Q1 2025 and stood at 587 bps vs. 562 bps in Q1 2025.   Non-recurring items totaled EUR -18 million vs. EUR -44 million in Q1 2025, consisting mostly of the hyperinflation impact in Turkey for EUR -19 million vs. EUR -34 million in Q1 2025. Used car sales result and Depreciation adjustments Net UCS result reached EUR 59 million, down 46.9% vs. Q1 2025 which stood at EUR 111 million. This results from a lower gross UCS result which continued to normalize, at EUR 69 million vs. EUR 193 million in Q1 2025, that was partially offset by EUR 73 million reduction in depreciation adjustments. Gross UCS per unit stood at EUR 470 vs. EUR 702 in Q4 2025 and EUR 1,229 in Q1 2025. This decrease, which results from the anticipated higher proportion of BEVs sold, was further impacted by unfavorable beginning-of-the-year seasonality on used car markets across powertrains. Depreciation adjustments decreased to EUR -10 million compared to EUR -83 million in Q1 2025. These EUR -10 million depreciation adjustments include notably EUR -21 million prospective depreciation, driven mainly by the evolution of the UK BEV market, vs. nil in Q1 2025. Total volume of cars sold, at 146k units, was down vs. Q1 2025 at 157k units, reflecting the lower number of new vehicles which were delivered in 2021 and 2022 in the context of supply chain disruptions at the time. As at end of Q1 2026, the Group’s stock of prospective depreciation costs to be reversed is EUR 53 million compared to EUR 83 million at end 2025.   Operating expenses Operating expenses amounted to EUR 422 million, a decrease of 10.7% vs. Q1 2025. Costs to achieve 12 (CTA) amounted to EUR 4 million compared to EUR 36 million in Q1 2025. Excluding CTA, underlying operating expenses amounted to EUR 418 million, a decrease of -4.2% vs. Q1 2025, reflecting increasing cost synergies, at EUR 45 million vs. EUR 19 million in Q1 2025, and continued strict cost monitoring across the organization. The combined effect of increased underlying margins and lower underlying operating expenses resulted in an underlying Cost/Income ratio at 54.0%, a 4.0 percentage point decrease compared to Q1 2025. Cost of risk Impairment charges on receivables came in at EUR 26 million compared to EUR 31 million in Q1 2025. The cost of risk 13  stood at 19 bps vs. 23 bps in Q1 2025. Net income Income tax expense came in at EUR 99 million up from EUR 95 million in Q1 2025, as a result of a higher profit before tax at EUR 365 million vs. EUR 316 million in Q1 2025 and a lower effective tax rate of 27.0% vs. 30.0% in Q1 2025. Ayvens’ net income group share reached EUR 266 million, compared to EUR 220 million in Q1 2025, supported by higher margins and lower expenses more than offsetting the decrease in net UCS result. Diluted Earnings per share 14 was EUR 0.31, up 29% vs. EUR 0.24 Q1 2025. The Return on Tangible Equity (ROTE) came in at 13.9% in Q1 2026 vs. 11.0% in Q1 2025. BALANCE SHEET AND REGULATORY CAPITAL Financial structure Group shareholders’ equity 15 totaled EUR 10.6 billion up EUR 0.4 billion compared to EUR 10.3 billion as at 31 December 2025. Net asset value per share 16 (NAV) was EUR 13.51 compared to EUR 13.07 as at 31 December 2025. Net tangible asset value (NTAV) after dividend provision stood at EUR 7.3 billion vs. EUR 7.0 billion as at 31 December 2025. NTAV per share after distribution provision was EUR 9.28 as at 31 March 2026, and EUR 8.98 as at 31 December 2025. Total balance sheet stood at EUR 70.6 billion, down EUR 0.3 billion vs. 31 December 2025. As at April 2026, Ayvens has successfully executed two new issues of green bonds, totalling EUR 1.5 billion, confirming the market’s strong appetite for Ayvens debt instruments. The Group continues to have access to ample short-term liquidity, with cash holdings of EUR 2.0 billion and an undrawn committed Revolving Credit Facility of EUR 3.2 billion in place. Ayvens has strong long-term debt credit ratings from Moody’s (A1), S&P Global Ratings and Fitch Ratings (A-). Regulatory capital Ayvens’ risk-weighted assets (RWA) totaled EUR 52.6 billion as at 31 March 2026, with credit risk-weighted assets accounting for 93% of the total. The EUR 1.2 billion decrease in total RWA compared to 31 December 2025 is mainly explained by: EUR 1.7 billion optimization of credit RWAs consisting of: EUR 1.0 billion as a result of the netting agreement with Societe Generale that allows to net loan liabilities and cash deposits and thus exclude the latter from RWA computation EUR 700 million decrease linked to earning assets due to a methodology alignment between accounting and risk exposure values offset by an increase of EUR 400 million in the off-balance sheet forward deposits and order book, and residual EUR 200 million of miscellaneous items. Thanks to this reduction in RWAs and the continued organic capital build-up, Ayvens’ Common Equity Tier 1 ratio reached 13.9% vs. 13.2% in Q4 2025, i.e. 454 basis points above the regulatory requirement of 9.33%. Total Capital ratio stood at 18.1% compared vs. 17.4% as at 31 December 2025. CONFERENCE CALL FOR INVESTORS AND ANALYSTS Date: 30 April 2026, at 10.00 am Paris time – 9.00 am London time Speakers: Philippe de Rovira, CEO / Patrick Sommelet, Deputy CEO and CFO CONNECTION DETAILS Webcast: Click https://edge.media-server.com/mmc/p/ug7xjx9t Conference call: FR: +33 1 70 91 87 04 UK: +44 121 281 8004 US: +1 718 705 8796 Other countries: + 39 02 802 09 11 Access code: 457698 AGENDA 13 May 2026: Annual General Meeting 20 May 2026: Dividend detachment 22 May 2026: Dividend payment 30 July 2026: Q2 2026 results 21 September 2026: Capital Markets Day (London) 29 October 2026: Q3 2026 results   About Ayvens Ayvens is a leading global sustainable mobility player committed to making life flow better. We’ve been improving mobility for decades, providing full-service leasing, flexible subscription services, fleet management and multi-mobility solutions to large international corporates, SMEs, professionals and private individuals.   With more than 13,000 employees across 41 countries, Ayvens manages 3.1 million vehicles and the world’s largest multi-brand EV fleet. The company is listed on Compartment A of Euronext Paris (ISIN: FR0013258662; Ticker: AYV). Societe Generale Group is Ayvens majority shareholder. Find out more at ayvens.com   Press contact Elise Boorée Communications Department Tel: +33 (0)6 25 01 24 16 [email protected]       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 document and its content may not be reproduced or distributed or published, directly or indirectly, in whole or in part, to any other person for any purpose without the prior written permission of the Company. “Ayvens” refers to the Company and its consolidated entities. The Information is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy, and does not constitute a recommendation of, or advice regarding investment in, any security or an offer to provide, or solicitation with respect to, any securities-related services of the Company. This document is information given in a summary form and does not purport to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. Investors should consult the relevant offering documentation, with or without professional advice when deciding whether an investment is appropriate. This document contains forward-looking statements relating to the targets and strategies of the Company. These forward-looking statements are based on a series of assumptions, both general and specific, in particular the application of accounting principles and methods in accordance with IFRS (International Financial Reporting Standards) as adopted in the European Union. These forward-looking statements have also been developed from scenarios based on a number of economic assumptions in the context of a given competitive and regulatory environment. The Company may be unable to: - anticipate all the risks, uncertainties or other factors likely to affect its business and to appraise their potential consequences; - evaluate the extent to which the occurrence of a risk or a combination of risks could cause actual results to differ materially from those provided in this document. Therefore, although the Company believes that these statements are based on reasonable assumptions, these forward-looking statements are subject to various risks and uncertainties, including matters not yet known to it or its management or not currently considered material, and there can be no assurance that anticipated events will occur or that the objectives set out will actually be achieved. Important factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements include, among others, overall trends in general economic activity and in the Company’s markets in particular, regulatory and prudential changes, and the success of the Company’s strategic, operating and financial initiatives. Unless otherwise specified, the sources for the business rankings and market positions are internal. Other than as required by applicable law, the Company does not undertake any obligation to update or revise any forward-looking information or statements, opinion, projection, forecast or estimate set forth herein. More detailed information on the potential risks that could affect the Company’s financial results can be found in the 2025 Universal Registration Document filed with the French financial markets authority (Autorité des marchés financiers). Investors are advised to take into account factors of uncertainty and risk likely to impact the operations of the Company when considering the information contained in such forward-looking statements. To the maximum extent permitted by law, none of the Company or any of its affiliates, directors, officers, advisors and employees shall bear any liability (in negligence or otherwise) for any direct or indirect loss or damage which may be suffered by any recipient through use or reliance on anything contained in or omitted from this document and the related document or any other information or material arising from any use of its materials or their contents or otherwise arising in connection with these materials. The financial information presented for the quarter ending 31 March 2026 was reviewed by the Board of Directors on 28 April 2026 under the chairmanship of Pierre Palmieri and has been prepared in accordance with IFRS as adopted in the European Union and applicable at that date.        By receiving this document, you will be deemed to have represented, warranted and undertaken to have read and understood the above notice and to comply with its contents. Appendix CONSOLIDATED INCOME STATEMENT in EUR million Q1 2026 Q1 2025 Q Var. Leasing revenues   2,810.8   2,846.3 -1.2% Leasing costs - depreciation (2,036.9) (2,075.0) -1.8% Leasing costs - financing    (425.7)    (487.3) -12.6% Unrealised gains/losses on financial instruments 2.0      (18.9) n.a. Leasing margin      350.3       265.1 32.2% Services revenues    1,305.2   1,270.0 2.8% Cost of services revenues   (898.2)    (826.7) 8.6% Services margin      407.0      443.3 -8.2% Leasing & Services margins      757.3     708.4 6.9% Proceeds of cars sold   2,198.0    2,313.4 -5.0% Cost of cars sold (2,129.5) (2,120.0) 0.4% Depreciation costs adjustments        (9.8)      (82.7) -88.2% Used car sales result and Depreciation adjustments        58.7       110.6 -46.9% Gross Operating Income       816.1      819.0 -0.4% Staff expenses    (259.0)   (289.6) -10.6% General and administrative expenses    (125.2)    (137.8) -9.1% Depreciation and amortisation     (38.2)      (45.4) -15.9% Total operating expenses    (422.4)    (472.8) -10.7% Impairment charges on receivables      (25.5)      (30.7) -16.9% Other income / (expense)        (4.3)        (1.0) n.a. Operating result      363.9       314.5 15.7% Share of profit from equity method 1.1 1.6 -29.5% Profit before tax      365.0      316.0 15.5% Income tax expense      (98.6)     (94.9) 3.9% Net income      266.5       221.2 20.5% Non-controlling interests          0.0        (1.2) -101.9% Net income group share      266.5       219.9 21.2% BALANCE SHEET AS AT 31 MARCH 2026 in EUR million          31 March 2026  31 December 2025 Earning assets                      52,536                      53,045    o/w Rental fleet 50,742 51,168    o/w Finance lease receivables                          1,794                          1,877 Cash & Cash deposits with the ECB                        1,964                        2,045 Intangibles (incl. goodwill)                         2,728                         2,737 Operating lease and other receivables                        8,828                        8,394 Other 4,537 4,630   Total assets                     70,592                   70,851 Group shareholders' equity                           11,380                           11,011    o/w Group shareholders’ equity excl. AT1                          10,630                          10,261    o/w AT1                               750                               750 Tangible shareholders’ equity    7,860                            7,499 Non-controlling interests                                29                               29 Total equity                   11,410                   11,040 Deposits                         14,815                        14,308 Financial debt                        35,364                        36,379 Trade and other payables                          5,782                          5,867 Other liabilities                          3,221                          3,256 Total liabilities and equity                   70,592                   70,851 Breakdown of depreciation adjustments P&L: Breakdown of depreciation adjustments in UCS in EUR million Q1 2026 Q1 2025 Prospective depreciation -21 - Reversal of prospective depreciation -7 -55 Other reversals/impairments 17 19 - PPA - -28 Depreciation adjustments -10 -83 Balance sheet: prospective depreciation stock             in EUR million Prospective depreciation 31.12.2025             82 Net charge to Q1 P&L -28 Prospective depreciation 31.03.2026 53 EARNINGS PER SHARE (EPS) Basic EPS Q1 2026 Q1 2025 Existing shares  783,862,091 816,960,428 Shares allocated to cover shares awarded to staff         (218,239)       (432,602) Treasury shares in liquidity contracts         (137,436)        (163,293) End of period number of shares 783,506,416 816,364,533 Weighted average number of shares used for EPS calculation (A) 783,342,787 816,163,003 in EUR million     Net income group share              266.5             219.9 Deduction of interest on AT1 capital               (18.1)             (18.7) Net income group share after deduction of interest on AT1 capital (B)                248.4             201.3 Basic EPS (in EUR) (B/A) 0.32 0.25   Diluted EPS Q1 2026 Q1 2025 Existing shares  783,862,091 816,960,428 Shares issued for no consideration 18 21,058,534 19,530,557 End of period number of shares 804,920,625 836,490,985 Weighted average number of shares used for EPS calculation (A) 805,246,549 835,640,591       Diluted EPS (in EUR) (B/A’) 0.31 0.24 Return on tangible equity (ROTE) in EUR million Q1 2026 Q1 2025   Group shareholders' equity              11,380.3        11,350.7   AT1 Capital              (750.0)           (750.0)   Interest on AT1 capital                 (55.2)             (56.2)   Distribution provision 19              (586.7)         (402.9)   OCI excluding conversion reserves                 (32.7)               11.6   Equity base for ROE end of period 9,955.7        10,153.2   Goodwill                2,127.5          2,128.3   Intangible assets                 600.3             659.6           Average equity base for ROE calculation               9,860.7        10,103.3   Average Goodwill                2,127.5          2,128.3   Average Intangible assets                 604.8             661.3   Average tangible equity for ROTE calculation               7,128.5           7,313.8   Net income group share                  266.5             219.9   Interest on AT1 capital                  (18.1)             (18.7)   Adjusted net income group share                248.4             201.3           ROTE 13.9% 11.0%   CRR3/CRD6 prudential capital ratios and Risk Weighted Assets in EUR million  31 March 2026  31 December 2025 Group shareholders’ equity                   11,380                  11,011 AT1 capital                    (750)                    (750) Distribution provision 20 & interest on AT1 capital                    (642)                    (500) Goodwill and intangible assets                  (2,728)                  (2,737) Deductions and regulatory adjustments                       32                       75 Common Equity Tier 1 capital             7,293             7,099 AT1 capital                      750                      750 Tier 1 capital               8,043               7,849 Tier 2 capital                   1,500                   1,500 Total capital (Tier 1 + Tier 2)               9,543               9,349       Risk-Weighted Assets             52,583               53,745 Credit Risk Weighted Assets                48,664                  49,889 Market Risk Weighted Assets                      970                         915 Operational Risk Weighted Assets                   2,949                      2,942       Common Equity Tier 1 ratio 13.9% 13.2% Tier 1 ratio 15.3% 14.6% Total Capital ratio 18.1% 17.4% Tangible book value per share in EUR million 31 March 2026 31 December 2025 Group shareholders' equity                        11,380.3                        11,010.6 AT1 capital                           (750.0)                          (750.0) Interest on AT1 capital                             (55.2)                             (37.2) Book value of treasury shares                               12.6                              12.3 Net Asset Value (NAV)                        10,587.6                  10,235.8 Goodwill                         (2,127.5)                         (2,127.5) Intangible assets                           (600.3)                          (609.2) Net Tangible Asset Value (NTAV)                          7,859.8                    7,499.1 Distribution provision                           (586.7)                           (462.5) NTAV after dividend provision 21                           7,273.1                    7,036.7       Number of shares 22                    783,506,416                   783,179,157 NAV per share                              13.51                            13.07 NTAV per share                             10.03                              9.58 NTAV per share after distribution provision                               9.28                             8.98 Quarterly series   in EUR million Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026  Leasing margin             281.2            260.2             231.7             297.7           265.1           307.7           345.8 345.2 350.3  Services margin             407.4             426.7             414.8             377.5          443.3          404.4          430.4 402.1          407.0 Leasing and Services margins         688.6        686.9         646.5         675.2       708.4 712.1 776.2 747.3       757.3 Used Car Sales (UCS) result            252.0           234.0            222.3            199.6          193.4          180.9          154.9          98.9          68.5 Depreciation adjustments            (147.5)           (136.3)           (145.2)           (162.0)          (82.7)          (38.4)          (80.2)          (16.0)          (9.8) UCS result and Depreciation adjustments          104.5           97.7           77.2           37.7       110.6 142.5 74.8 82.9       58.7 Gross operating income          793.1         784.5          723.7          712.9       819.0       854.7       851.0 830.2       816.1 Total operating expenses           (489.6)           (475.3)           (459.9)           (474.6)        (472.8)        (446.8)        (429.2)        (477.2)         (422.4) Impairment charges on receivables              (33.1)           (30.5)            (28.8)             (36.1)        (30.7)        (27.2)        (27.5)        (27.5)  (25.5) Other income/(expense)                9.0               (1.2)              (7.3)               (2.7)            (1.0)            3.2            (6.3)            (8.6)             (4.3) Net result from equity method                 1.5                2.3                2.0                4.4              1.6              1.7              1.5              1.5 1.1              Profit before tax         280.9          279.9          229.7         203.9        316.0 385.6 389.5 318.4        365.0 Income tax expense             (88.4)  (71.4)             (81.6)             (42.7)          (94.9)          (113.7)          (115.8)          (85.6)          (98.6) Non-controlling interests               (11.1)             (12.5)               (1.4)               (1.6)             (1.2)             (0.6)             (1.1)             (1.0)             (0) Net income group share          181.3          195.9          146.7          159.7        219.9        271.3        272.7        231.9        266.5                       in '000 Q1 2024 Q2 2024 Q3 2024 Q4 2024 23 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Total Contracts         3,386         3,373         3,332         3,281       3,239 3,204 3,193 3,175 3,077 Full service leasing contracts             2,699            2,686            2,653            2,609         2,578 2,557 2,539 2,525 2,494 Fleet management contracts               686               686              680               672            662            648            654            650            583 1 Diluted Earnings per share, calculated according to IAS 33. Basic EPS for Q1 2026 at EUR 0.32 2 The Group results as at 31 March 2026 were examined by the Board of Directors, chaired by Pierre Palmieri on 28 April 2026 3 Excluding non-recurring items 4 Used car sales result and depreciation adjustments 5 Management information 6 Management information. Pre-tax gross synergies of which EUR 65 million in revenues from procurement, insurance and remarketing and EUR 45 million in operating expenses (Q1 2025: EUR 42 million in revenues and EUR 19 million in operating expenses) 7 Excluding Net UCS result and non-recurring items 8 Net carrying amount of the rental fleet plus net receivables from finance leases 9 Q1 2025 on a like-for-like perimeter: total fleet restated to exclude UAE classified as held-for-sale in Q4 2025 10 Management information, passenger cars and light commercial vehicles 11 Battery Electric Vehicles (BEV), Plug-in Hybrids (PHEV), hybrids (Mild and full hybrid vehicles) 12 Management information 13 Annualized impairment charges on receivables expressed as a percentage of arithmetic average of earning assets 14 Calculated according to IAS 33. Basic EPS at EUR 0.32. 15 Excluding Additional Tier 1 capital 16 Before dividend provision 17 EUR 19 million of reversals mainly relating to the vehicles sold in Turkey and representing release of the impairment booked previously in the context of hyperinflation 18 Assuming exercise of warrants as per IAS 33 19 Assuming dividend payout ratio of 50% of adjusted net income group share 20 Assuming dividend payout ratio of 50% of net income group share after deduction of interest on AT1 capital ion 21 Assuming dividend payout ratio of 50% of adjusted net income group share 22 The number of shares considered is the number of ordinary shares outstanding at end of period, excluding treasury shares 23 Q4 2024 to Q3 2025 total fleet restated to exclude UAE, classified as held-for-sale in Q4 2025 Attachment Ayvens Q1 2026 Press release_FINAL (1)

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