SIXT SE

ANALYST DAY 2024

SECOND TEXT LEVEL: LOCATION, MONTH 20XX

AGENDA

10:00AM

10:15AM

10:45AM

OPENING REMARKS AND TRADING UPDATE

FINANCE STRATEGY

DEEP DIVE VAN & TRUCK

PROF. DR. KAI ANDREJEWSKI

DR. FRANZ WEINBERGER

DR. PETER BEERMANN

CHIEF FINANCIAL OFFICER

HEAD OF CORPORATE FINANCE

EXECUTIVE VICE PRESIDENT

& APPOINTED CFO

VAN & TRUCK

11:05AM

11:25AM

11:45AM

DEEP DIVE DIGITAL PROCESSES

Q&A

END

PROF. DR. KAI ANDREJEWSKI

CHIEF FINANCIAL OFFICER

SIXT SE ANALYST DAY 2024

2

OPENING REMARKS AND TRADING UPDATE

PROF. DR. KAI ANDREJEWSKI

Chief Financial Officer

SIXT SE ANALYST DAY 2024

3

INTRODUCTION FRANZ WEINBERGER

DR. FRANZ WEINBERGER

Head of Corporate Finance

& appointed CFO

SIXT SE ANALYST DAY 2024

4

PRUDENT FINANCE STRATEGY & FUNDING PRINCIPLES

COMBINED WITH SHAREHOLDER-FRIENDLY AND SUSTAINABLE

DIVIDEND POLICY

SIXT SE ANALYST DAY 2024

5

FINANCING MILESTONES / ONGOING FURTHER

DEVELOPMENT

MAIN SOURCES OF FINANCING

REFINANCING COVID-RCF

SIGNIFICANT FINANCING

▪ Unrated bonds based on

▪

3y term

TRANSACTIONS

stand-alone

▪

750 MEUR

▪ 864 MEUR borrower's

documentation

▪

No financial covenants

note loans

▪

Borrower's note loans

▪ 300 MEUR unrated bond

▪

Bilateral credit lines

GROUP- AND INSTRUMENT-WIDE

▪ New bilateral credit lines

predominantly granted by

ALIGNMENT OF CREDIT TERMS &

German banks

CONDITIONS

Setting-upABS-Readiness

2020

2022

STRONG GROWTH

2024

2019

COVID-19

2021

INFLATION /

2023

INTEREST RATES

▪

Establishment of a

▪ Publication of Credit Rating

REFINANCING OF 3Y RCF TO 5Y

revolving credit facility

▪

500 MEUR Benchmark-size

▪

Improvement of terms &

bond

conditions

▪ Set-up of a Debt-

▪

Internationalization of

▪ Increase of lease financing

Issuance Program

banking group

▪ Increase of Commercial Paper

▪ Increase volume to 950

MEUR

Financing

SIXT SE ANALYST DAY 2024

6

FINANCE STRATEGY & FUNDING PRINCIPLES

LTV-RATIO

▪ Loan-to-Rental Vehicles Ratio < 100%

▪

Real-Estate-Financing

FLEET FINANCING STRATEGY

WELL-DIVERSIFIED FUNDING MIX

MATCHED FUNDING PRINCIPLES

Policy to fund:

  • Base-Fleetwith mid-to-long-term instruments (e.g. bonds, borrower`s note loans, etc.)
  • Peak-Fleetwith Commercial Paper, bilateral Credit Lines and RCF
    • No dependence on single markets, instruments, banks or investors
    • Diversification of funding sources and instruments with particular consideration of leasing
  • FX-Hedgingof intercompany loans
  • Risk-adequateinterest rate hedging

STAGGERED

▪

Avoidance of high refinancing risks in single periods

MATURITY PROFILE

SIXT SE ANALYST DAY 2024

7

DIVIDEND POLICY

SHAREHOLDER-FRIENDLY, PRUDENT AND SUSTAINABLE

PAY-OUT RATIO1 [EUR m]

74.4

70

61.0

Ø PAY-OUT RATIO: 46,7 %

61.1

60

60.6

50.2 48.6

51.3

52.7

55.8

49.7

55.6

50

44.9

45.0

54,7

in mEUR

42.1

37.2

40

35.835.7

31.8

33.1

30

20

10

0.3

0

03

04

05

06

07

08

09

10

11

12

13

14

15

16

17

18

19

20

21

22

23

  • Dividend Policy is based on the earnings situation of the SIXT Group and allowing for distributions between 35% and 60% of the consolidated earnings of the SIXT Group as a dividend. In order to maintain or adjust the capital structure, the Group may propose different dividends to the shareholders or, in special situations, propose special dividends.
  • Based on SIXT's prudent financial policy, SIXT suspended its ordinary dividend in FY20 and FY21 to preserve cash amid the COVID-19 pandemic. The dividend payments were resumed in 2022 and a special dividend paid in 2023 to compensate dividend suspension in 2020 and 2021.

¹Pay-out ratio based on consolidated profit after tax. For normalization purposes, the special dividend for the sale of DriveNow was added here to the

SIXT SE ANALYST DAY 20242018 financial year (the year in which the profit accrued) and not to the year of the actual distribution (FY 2017).

8

WELL-STAGGERED MATURITY PROFILE

MATURITY PROFILE as of 31 March 20241

[EUR m]

623

30

300

258

159

255

134

3

2024 2025

950

513

500

351

510

300

500

251

50

3

51

50

2026

2027

2028

2029

2030

MATURITIES IN 2024:

331

205

30

300

43

132

87

29

2

Apr May Jun Jul Aug Sep

Oct Nov

Bonds

Dec

RCF

CP

Borrower's note loans

Bilateral credit lines

SIXT SE ANALYST DAY 2024

Sources: Sixt data; 1Financial liabilities as of 31 March 2024; Repayment amounts excluding accrued and in future payable interest; Lease

9

liabilities resulting from leases and hire purchase agreements recognised in accordance with IFRS 16 are not included

DEEP DIVE RATING

SELECTION PROCESS

  • Sector Coverage
  • US- & EU- Footprint
  • Investor / Bank acceptance
  • Understanding of business model

RATING RESULT

  • S&P
  • Anchor Rating BBB+
  • Comparable rating analysis - 1 notch
  • Rating BBB (outlook stable)

HIGHLIGHT

"S&P explicitly honors the profitable revenue growth, the

premium positioning and strategy of fleet acquisition based on

solid balance sheet and moderate debt levels."

SPREAD / VOLUME ADVANTAGE

BOND

  • Reoffer Spread 2024 +128bps vs. 2023 +216bps
  • Orderbook 2024 > EUR 2.4bn. vs. 2023 > EUR 550m at peak
    COMMERCIAL PAPER
  • Spread 2024 +25bps vs. 2023 +35bps
  • Larger volume expected

SIXT SE ANALYST DAY 2024

10

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Disclaimer

Sixt SE published this content on 17 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 April 2024 04:07:02 UTC.