SIXT SE Q2 RESULTS INVESTOR PRESENTATION - 22 SEPTEMBER 2021

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SIXT SE Q2 RESULTS INVESTOR PRESENTATION - 22 SEPTEMBER 2021
SIXT SE
Q2 RESULTS
INVESTOR PRESENTATION
22 SEPTEMBER 2021

                        1
SIXT SE Q2 RESULTS INVESTOR PRESENTATION - 22 SEPTEMBER 2021
This presentation (together with the presenters’         further discussions of the Company with any of       Presentation contains summary information only
             speeches and any other related verbal or written         the recipients thereof shall, under any              and does not purport to be comprehensive and is
             communications the “Presentation”) contains              circumstances, create any implication that there     not intended to be (and should not be used as)
             forward-looking statements relating to the               has been no change in the affairs of the             the basis of any analysis or other evaluation. In
             business, financial performance and results of           Company since such date. Consequently, the           addition, the information in the Presentation is
             Sixt SE (together with its subsidiaries, the             Company does not undertake any obligation to         subject to change. No representation or warranty
             “Company”) and/or the industry in which the              review, update or confirm expectations or            (express or implied) is made as to, and no
             Company operates. Forward-looking statements             estimates or to release publicly any revisions to    reliance should be placed on, any information,
             concern future circumstances and results and             any forward-looking statements to reflect events     including projections, estimates, targets and
             other statements that are not historical facts,          that occur or circumstances that arise in relation   opinions, contained herein, and no liability
             sometimes identified by the words “believes,”            to the content of the Presentation. Furthermore,     whatsoever is accepted as to any errors,
             “expects,” “predicts,” “intends,” “projects,” “plans,”   a totally different performance can ensue from an    omissions or misstatements contained herein.
             “estimates,” “aims,” “foresees,” “anticipates,”          unexpected slump in demand or economic               Due to rounding it is possible that figures may
             “targets,” and similar expressions. Forward-             stagnation in our key markets. The actual            not add up exactly and that half or full year
             looking statements, including assumptions,               development can differ materially from the           figures do not correspond to added quarterly
             opinions and views of the Company or cited from          forecasts made in this Presentation, in case one     figures. For the same reason, percentages may
DISCLAIMER   third party sources, are solely opinions and             of the aforementioned risks or other risks not       not exactly match absolute numbers they
             forecasts which are uncertain and subject to             mentioned here should materialize and/or the         correspond to.
             risks. Actual events may differ significantly from       assumption on which we have based our
             any anticipated development due to a number of           forecasts and prospects turn out to be wrong.        The Presentation does not constitute or form part
             factors, including without limitation, changes in                                                             of, and should not be construed as, an offer,
             general economic conditions, in particular in the        Certain industry and market information in the       solicitation or invitation to subscribe for,
             Company’s target markets and changes in                  Presentation and/or related materials has been       underwrite or otherwise acquire, any securities of
             competition levels. The Company does not                 obtained by the Company from third party             the Company nor should it or any part of it form
             guarantee that the assumptions underlying                sources. The Company has not independently           the basis of, or be relied on in connection with,
             forward-looking statements are free from errors          verified such information and neither the            any contract to purchase or subscribe for any
             nor does it accept any responsibility for the future     Company nor any of its directors provides any        securities of the Company, nor shall it or any part
             accuracy of opinions or any obligation to update         assurance as to the accuracy, fairness or            of it form the basis of or be relied on in
             the statements in the Presentation to reflect            completeness of such information or opinions         connection with any other investment
             subsequent events. Forward-looking statements            contained in this document and neither the           whatsoever.
             are made only as of the date of the Presentation.        Company nor any of its directors takes any
             Neither the delivery of the Presentation nor any         responsibility for such information. This                                                                  2
SIXT SE Q2 RESULTS INVESTOR PRESENTATION - 22 SEPTEMBER 2021
QUARTERLY HIGHLIGHTS
        Q2/21
SIXT SE Q2 RESULTS INVESTOR PRESENTATION - 22 SEPTEMBER 2021
Q2/21 RESULTS: BACK ON RECORD LEVELS

                  EBT
                  EUR 77.9m (-166% vs. Q2/20; +6% vs. Q2/19)

                  GROUP REVENUE
                  EUR 501.2m (+119% vs. Q2/20; -20% vs. Q2/19)

                  MOBILITY BUSINESS UNIT CORPORATE EBITDA
                  EUR 106.7m (-231% vs. Q2/20; +10% vs. Q2/19)

                  NET INCOME
                  EUR 62.7m (-160% vs. Q2/20; +28% vs. Q2/19)

                  RENTAL ASSETS
                  EUR 3.2bn (+45% vs. Q4/20)

                  EQUITY RATIO
                  30.8% (-1pp vs. Q4/20)
                                                                                                                      44
Sources: Group Interim Reports as at 30 June 2021 and as at 30 June 2020, Annual Report 2020; 2019 figures adjusted
SIXT SE Q2 RESULTS INVESTOR PRESENTATION - 22 SEPTEMBER 2021
BUSINESS UPDATE

                  5
SIXT SE Q2 RESULTS INVESTOR PRESENTATION - 22 SEPTEMBER 2021
OUR VISION: EXCITE OUR CUSTOMERS WITH THE
FREEDOM OF GLOBAL MOBILITY WITHOUT OWNING A CAR
SHIFT AWAY FROM CAR OWNERSHIP LIKELY TO PUSH RENTAL AND SUBSCRIPTION BUSINESS – FLEXIBILITY AS KEY DRIVER

                                                                                      2030
                                                       2025

                         2021

                       USD ~65 bn                    USD ~510 bn                   USD ~6,700 bn

                       RENTAL                       CAR RENTAL,                  TOTAL MARKET
                       MARKET                    RIDE HAILING, TAXI            INCL. PRIVATE CARS
                                                  & CAR SHARING

      UNLIMITED SCALABILITY IN A USD 6,700 BN MARKET
                                                                                                            6
SIXT SE Q2 RESULTS INVESTOR PRESENTATION - 22 SEPTEMBER 2021
SIXT’S BUSINESS MODEL: SCALABLE, VARIABLE,
FINANCIALLY SOLID, DIVERSIFIED

                                                                                                                                                                                                                           24%
                                                                                                                                                                                                                                      45%      VARIABLE
                                                                                                               -3 months          6 MONTHS AVERAGE                          +3 months                                                          COST
                                                                                                                                    HOLDING PERIOD                                                                         31%                 BASE2
                   LARGE SIXT VEHICLE POOL
                                                                                                               ~80% of our cost base is variable as we can extend or

     TECHNOLOGY PLATFORM
                                                                                             PLATFORM          shorten holding periods for part of our fleet vehicles

                                                                                           SCALABILITY         VARIABILITY                                                                                         Fleet         Variable     Fixed

                           Buyback ratio1
                                                                                          FINANCIALLY          DIVERSIFIED                                             H1/21                                                                Airport
                                                                                                                                                                    REVENUE
            94%                                                                                 SOLID                                                                  SPLIT 56%                                      44%                   Downtown &
                                                                                                                                                                                                                                            Railway
                                                                                                                                                                          [%]

             30.8%
                            Equity ratio2
                                                                                                               CUSTOMER                                            62             62            63                          63
                                                                                                               MIX                     55            58                                                       56
                                                                                                                     51
                                                                                                               [%]
                                                                                                                        40                                                                                                                  Corporate
                                                                                                                                  36            34                           32                          33
                                                                                                                                                              31                           30
                            Net Financial Debt used for fleet assets2                                                                                                                                                  23
                                                                                                                                                                                                                                            Retail
            100%                                                                                                                                                                                                                 14         Others
                                                                                                                              9             9             8             7                            7         11                                        7
                                                                                                                                                                                       6
1Share ofBuyback agreements with OEMs including operating leases as of 31 December 2020; 2As of 30 June 2021
Sources: Group Interim Report as at 30 June 2021, Annual Report 2020 and previous years, Company Data                      2014    2015          2016          2017           2018          2019          2020             H1/21
SIXT SE Q2 RESULTS INVESTOR PRESENTATION - 22 SEPTEMBER 2021
MARKET CONDITIONS ARE FAVOURABLE GIVEN URGE OF
PEOPLE TO TRAVEL – OUTWEIGHING EXISTING CHALLENGES
                       OPPORTUNITIES   CHALLENGES

       Current car rental price
                 environment
                                             Business customer demand
           Catch-up effects on               recovering at slower speed
                travel demand
                   Increasing
             vaccination rates               Ongoing semiconductor and thus
                                             vehicle shortage
         Easing of lockdowns
Transatlantic flights to resume
                                             More infectious COVID-19
    US business development                  mutations

          Subscription / SIXT+
                                                                              8
SIXT SE Q2 RESULTS INVESTOR PRESENTATION - 22 SEPTEMBER 2021
Q2/21 RESULTS IN DETAIL

                          9
SIXT SE Q2 RESULTS INVESTOR PRESENTATION - 22 SEPTEMBER 2021
Q2/21 & H1/21 UPDATE: RECOVERY FUELLED BY MARKET
CONDITIONS

OPERATING                       MOBILITY BUS. UNIT
REVENUE [EUR m]                 CORPORATE EBITDA [EUR m]            GROUP EBT [EUR m]

             -27%
     1,130                                                                      -43%
                                              -23%
                                                                        113         -152%
                                      161            -331%
                   +16%
                                                                                            64
                          825                                124   Q2    73
Q2   626                         Q2    97
             711                                                                            78
                                                             107   Q1    40
             226          498                                                               -14
                                 Q1    63
                                               28            17
                                                                                -118
Q1   504     486                               -82
                          327
                                                                                 -5
                                               -54                              -123
     H1/19   H1/20    H1/21           H1/19   H1/20      H1/21          H1/19   H1/20   H1/21     10
Q2/21 SEGMENT UPDATE: US DRIVE OUTPERFORMANCE
VERSUS MARKET EXPECTATIONS AND COME IN EVEN
BETTER THAN PRE-CORONA
                                                                                                                OPERATING REVENUE1 [EUR m]

                                             -33%                                                                                        -30%                                   +25%

                              -49%                                                                                            -75%              +177%                                   +306%
                                                            +31%
                                                                                                                                                                        -69%
               235.6                                                                                            266.1                                   185.2                                   155.3
                                             120.6                        157.5                                                         66.9                    124.1            38.3
               Q2/19                        Q2/20                        Q2/21                                 Q2/19                    Q2/20           Q2/21   Q2/19           Q2/20           Q2/21

                                                                                                                  CORPORATE EBITDA [EUR m]
                                                                                                                                                                                +657%
                                             -34%                                                                                       -43%
                                                                                                                                                                                        -232%
                             -137%
                                                           -279%                                                             -152%                                      -674%
                                                                                                                                                -209%                                           52.1
                33.0                                                       22.0                                                                                  6.9
                                                                                                                 57.3                                   32.6
                                             -12.3                                                                                      -29.8                                   -39.5
               Q2/19                        Q2/20                        Q2/21                                 Q2/19                    Q2/20           Q2/21   Q2/19           Q2/20           Q2/21   11
1Share of   Group operating revenue generated in the respective regional segments (Germany, Europe (excl. Germany) and North America)
SYNCHRONISATION OF DEMAND AND COSTS; Q2 & H1 TOTAL
EXPENSES STILL C. 25% BELOW PRE-PANDEMIC LEVEL
                                                                                                                                                                                                  FLEET LEVEL DURING CORONA
  TOTAL                EXPENSES1 [EUR m]                                                                FLEET                                                                                     PANDEMIC 2019-2021 [indexed]
                                                   -25%                                                                                                                                           100%
                        1,101                                   -11%
                                                                                                               Avg. Number of rental vehicles                   Free cash flow [EUR m]2           90%
                                                    934
                                                                              830                                                                                                                 80%
                         597                                                                                              +13%
                                                    386                                                                                                                          -1,257
                                                                                                                                                                                                  70%
                                                                              456
           Q2                                                                                                                                                                                     60%
                                                                                                                                                                    628
           Q1
                                                                                                                                    116,200                                                       50%
                                                    548                                                       102,400
                         504
                                                                              374                                                                                                         -629    40%

                                                                                                                                                                                                  30%
                        H1/19                     H1/20                      H1/21                             Q2/20                 Q2/21                        H1/20                   H1/21
                                                                                                                                                                                                     Sep.   Nov.   Jan.   Mar.     May   July   Sep.   Nov.   Jan.   Mar.   May    July
                                                                                                                                                                                                    2019                                                                          2021

                                                                                                                                                                                                            Rental Days          Fleet
                                                                                                         FLEET COSTS3 [EUR m]
                                                                                                                                                     +16

                                                                                                                                                                   179
                                                                                                                                       163

                                                                                                                                      Q2/20                       Q2/21                                                                                                                   12
1Total   expenses including financial result, excluding other operating income; 2Cash flows from continuing operations; 3Fleet costs including depreciation on rental vehicles
SUCCESSFUL FLEET ADJUSTMENT DESPITE CHALLENGES
DUE TO SHORTAGE OF NEW VEHICLES

 Q 2 / 2 1     AV E R A G E
                                ~116,000                     VEHICLES INTERNATIONALLY
 E n d   o f    Q 2 / 2 1
                                ~146,000                      VEHICLES INTERNATIONALLY
                                            176
                                    155
                                                       143
                              129                               131
                                                                                  120                       116
                                                                         102                  97    93

                            Q1/19   Q2/19   Q3/19     Q4/19    Q1/20    Q2/20    Q3/20    Q4/20    Q1/21   Q2/21

                                                  AVERAGE FLEET SIZE PER QUARTER [thousand]
                                                                                                                   13
                                                                                                                   13
HIGH EQUITY RATIO AND LOW NET FINANCIAL DEBT

     EQUITY RATIO1 [%]                                                                                    NET FINANCIAL DEBT1 [EUR bn]

                                                                               31.5               30.8                          3.3
        26.8              26.2             27.8
                                                             25.5                                                        2.6
                                                                                                                  2.2                            2.3
                                                                                                           2.1
                                                                                                                                         1.6

       2016              2017              2018             2019              2020                H1/21   2016   2017   2018   2019      2020   H1/21
                                                                                                                                                        14

Sources: Annual Reports and Half-Yearly Financial Report 2021; 12016-2019 figures incl. Leasing
OUTLOOK

          15
OUTLOOK 2021: SIGNIFICANT RECOVERY IF CURRENT
CONDITIONS REMAIN IN PLACE

                                                                                   FY 2021 FORECAST1
CONSOLIDATED                                                                                                                                                             ASSUMPTION:
                                                                                               EUR 2.00 – 2.20 bn
OPERATING REVENUE
                                                                                                                                                               COVID-19 pandemic will not again
                                                                                                                                                               lead to profound travel restrictions
GROUP EBT                                                                                        EUR 300 – 330 m

                                                                                                                                                                                                      16
1Issued   on 20 September 2021; previous forecast from 20 July 2021 was at EUR 1.95-2.10 bn for consolidated operating revenue and at EUR 190-220 m for EBT.
BUSINESS STRATEGY: CONTINUED COMMITMENT TO
GROWTH AREAS

    DIGITAL RENTAL                                      USA                              VAN & TRUCK                           SUBSCRIPTION
 Fully digital and contactless rental   Further airport and downtown expansion,   Significant market potential in a highly   Expansion to additional customer
              experience                      entering corporate segment             fragmented USD > 10 bn market                       groups
                                                                                                                                                                17
SUBSCRIPTION AND VAN & TRUCK: STRONG GROWTH
DRIVEN BY SHIFT IN CONSUMER BEHAVIOUR

 V&T REVENUE DEVELOPMENT GERMANY [EUR m]             SUBSCRIPTION DEVELOPMENT [Active contracts]

                                 H1/21 revenue
                                                                                               > 10,000 active
                               significantly above
                                                                                                  contracts
                               H1-3-year-average

                       20%

       H1/18   H1/19   H1/20       H1/21                   Aug 20   Oct 20   Dec 20   Feb 21   Apr 21       Jun 21
                                                                                                                     18
CONTACT DETAILS
                                    SIXT SE
                                Investor Relations
                                Zugspitzstrasse 1
                                  82049 Pullach

                              +49 (0)89 74444 – 5104
                            investorrelations@sixt.com

Prof. Dr. Kai Andrejewski          Nicole Schillinger                   Sophia Patzak
 Chief Financial Officer        Head of Investor Relations   Senior Professional Investor Relations
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