Europcar Mobility : Q1 2022 PRELIMINARY UNAUDITED FIGURES - POSITIVE CORPORATE EBITDA IN Q1 FOR THE FIRST TIME EVER IN GROUP’S HISTORY

Press Release

Paris - April 28th, 2022

Q1 2022 PRELIMINARY UNAUDITED FIGURES

POSITIVE CORPORATE EBITDA IN Q1 FOR THE FIRST TIME EVER IN GROUP'S HISTORY

CONTINUED SHARP RECOVERY IN ACTIVITY,

LEVERAGING A MORE FAVOURABLE BUSINESS ENVIRONMENT DURING Q1 2022

COMBINED WITH STRUCTURAL BENEFITS FROM COST ADAPTATION

Q1 2022 HIGHLIGHTS

• ▪ Strong Revenue: +57%1 at €567m compared to Q1 2021 (or 92% of revenue in Q1 2019PF1), driven by high RPD2 and persistent firm recovery in leisure customer demand.

• ▪ Outstanding Margin after direct costs (MADC): strong improvement in margin to 34.5% in Q1 2022, well above pre-covid level (29.0% in Q1 2019 PF) as a result of fleet costs optimization

• ▪ Positive Corporate EBITDA, first time ever (historically negative figure due to seasonality): +€31m with positive fall-through (vs -€44m Corp. EBITDA in Q1 2021 and -€15m in 2019 PF3)

• ▪ Solid balance sheet: €247m Corporate net debt4, building on the financial restructuring achieved in February 2021.

UPDATE ON THE TENDER OFFER

Europcar Mobility Group is continuing to cooperate with Green Mobility Holding in view of the completion of the tender offer. The ongoing merger control procedure conducted by Green Mobility Holding with the European Commission, is making continuous progress.

On April 19, 2022 Green Mobility Holding filed for EU antitrust clearance to acquire Europcar Mobility Group and Green Mobility Holding expects:

• ▪ Following the European Commission's decision, the French financial market regulator (Autorité des Marchés Financiers) to announce the final date up to which shareholders of Europcar Mobility Group can tender their shares and,

• ▪ The transaction to be completed in Q2 2022

In accordance with article 232-4 of the AMF general regulation, if the tender is successful, it will be automatically reopened within 10 trading days following the publication of the final result of the tender, under terms identical to those of the Offer. The AMF will publish the timetable for the reopening of the tender, which will remain open for at least 10 trading days.

2022 TRAJECTORY AND MID-TERM PROSPECTS

After a strong start of the year demonstrating the Group successful turnaround, Europcar Mobility Group is now foreseeing revenue and Corporate EBITDA growth for 2022 compared to 20215: solid volumes demand should continue to improve throughout the year 2022 with a good pricing momentum. Yet the market environment remains highly challenging: the Group expects demand to remain constrained by fleet shortage, an increasing cost base (fleet and overall inflation), rising supply difficulties with the Ukrainian conflict and macroeconomic uncertainties.

• 1 At constant exchange rates versus 2020 and at constant exchange rates & perimeter versus 2019: including Fox and Nordics

• 2 RPD (revenue per transaction day): corresponds to rental revenue for the period divided by the number of rental days for the period

• 3 Unaudited 2019 PF figure

• 4 Pre IFRS 16

• 5 Assuming no new covid-wave, no geo-political situation worsening nor macro-economic degradation

The Group is well on track in the deployment of its strategic roadmap. This will accelerate during the year, with a focus on digitization of Customer experience and Operations, as well as the launch of new offers and services. Europcar Mobility Group is thus confident in its capacity to deliver long-term, sustainable and profitable growth.

Caroline Parot, CEO of Europcar Mobility Group, declared:

"We achieved a positive Corporate EBITDA in Q1 for the first time ever in our Group's history, at €31m. This remarkable performance was driven by demand recovery, which is almost back to pre-Covid levels in some segments, in a favorable pricing environment.

We also owe these very good quarterly results to the combined effects of our cost-control discipline, and to the 2021 deliveries of "Connect", our strategic roadmap, notably in terms of innovative offers and solutions, tailored around customers' needs and expectations.

In 2022, our overall focus will be on profitability versus volumes, as we anticipate a continuing tension between supply and demand. We also expect global inflation and the lasting semiconductor shortage, as well as the Ukrainian conflict, with unknown global consequences, to negatively impact our cost base and our business environment.

Despite this, we are confident that we will generate revenue and Corporate EBITDA growth in 2022 and, as we move forward in the deployment of our "Connect" roadmap, in our capacity to deliver long-term, profitable growth, building our leadership on sustainable, shared, on-demand mobility services."

*****

Europcar Mobility Group invites you to its Q1 2022 Preliminary figures Conference Call on: Thursday, April 28th 2022, at 6:00pm CET

Dial-in Access telephone numbers:

France : [phone]

Germany : [phone]

UK : [phone]

USA : [phone]

Confirmation Code : 2799175

Webcast live:

You can watch the presentation on the following link:

https://globalmeet.webcasts.com/starthere.jsp?ei=1541423&tp_key=3f2bc8133f

Slides related to Q1 2022 preliminary figures are available on the Group's website, in the "Financial documentation" section:

https://investors.europcar-group.com/results-center

KEY FINANCIALS IN Q1 2022 (unaudited figures)

Q1 2022 financial figures

All data in €m, except if mentioned

Q1 2022

Q1 2021

% Change at constant perimeter and currency

Number of rental days (million) Average Fleet (thousand) Financial Utilization rate Total revenues

15.8

11.7 34.9%

72.0%

243.7

187.2 30.2% 69.5%

Adjusted Corporate EBITDA (IFRS 16)

Adjusted Corporate EBITDA Margin

567

356 (44.4)

56.7%

31.2 5.5%

Corporate Net Debt at end of the period

247.2

198.7

NB: Average fleet and utilization rate include Urban Mobility. Historical data have been adjusted accordingly

No change in perimeter between Q1 2022 and Q1 2021.

SUMMARIZED PROFIT & LOSS (unaudited accounts)

Management Account presentation: accounts are presented under IFRS 16, unless explicitly mentioned

Revenue and Profit & Loss are analyzed through the evolution at constant perimeter and exchange rates.

All data in €m	Q1 2022	Q1 2021 % Change at constant perimeter and currencyQ1 2019 PF % Change at constant perimeter
Total revenue	567.4	355.7 56.7% 619.4 -8.4%
Average fleet size ('000) Rental days volume (in Million) Utilization rate	243.7 15.8 72.0%	187.2 11.7 30.2% 292.8 -16.7% 34.9% 19.1 -17.3% 69.5% 72.6%
Margin after Direct costs	195.6	85.3	124.3%	179.7	8.9%
In % of revenue	34.5%	24.0% 29.0%
Network HQ Costs Fixed & semi-fixed costs	(83.6) (80.9) (164.4)	(60.0) (69.8) (129.7) -37.2% -14.5% -25.0% (102.2) 18.2% (92.0) 12.1% (194.2) 15.3%
Adjusted Corporate EBITDA (IFRS 16)	31.2	(44.4)	(14.5)
In % of revenue	5.5%
Adjusted Corporate EBITDA excl. IFRS-16 3.2 (70.7) (39.3)

Constant perimeter includes Fox consolidated in November 2019 & franchisees in Finland and Norway in July 2019. No change in perimeter between Q1 2021 and Q1 2022

Average fleet and utilization rate include Urban Mobility. Historical data have been adjusted accordingly.

1. Revenue in Q1 2022: Continued recovery, progressively closing the gap vs Q1 2019

After a strong recovery in FY 2021 fueled by the US and domestic markets in Europe, revenue was again well oriented in Q1 2022 thanks to robust pricing notably linked to constrained fleet volumes, with a very strong performance in Leisure. This performance highlights the recovery in demand combined with the positive benefits from Group's Connect strategic plan that resulted in new product offering. Overall, growth was particularly strong in Southern Europe, France, the UK and the US.

The Group progressively closed the gap compared to pre-covid levels: at constant exchange rate, revenue was down -8% compared to Q1 2019 PF, with a decline of -13% in January, -10% in February and -3% in March.

Compared to Q1 2021, revenue increased by +57% to €567m in Q1 2022 at constant perimeter and exchange rates, driven by CARS business which recorded the strongest growth (+76%). VANS & TRUCKS business recorded a limited -2% decline in revenue versus high Q1 2021 comps, achieving a good performance as it stands above pre-covid levels (+7% vs Q1 2019).

Other income increased on higher petrol income and franchisee fees.

€m Q1 2022 Q1 2021 % Change % Change at constant currency Proximity Professional Leisure 53.1 206.1 199.8 38.6 130.1 87.0 37.5% 36.6% 58.4% 56.8% 129.6% 119.8%

CARS 459.0 255.7 79.5% 75.7%

VANS & TRUCKS 83.9 85.1 -1.4% -2.1%

Rental Revenues (incl. Mobility) 542.9 340.8 59.3% 56.5%

Other income (incl. franchisee) 24.5 14.9 64.1% 61.3%

Total Revenues 567.4 355.7 59.5% 56.7%

2. Positive Corporate EBITDA in Q1 2022, first time ever in Group's history

MADC (Margin after Direct Costs): a well-managed fleet, navigating through fleet sourcing shortage

In a context of persistent vehicles scarcity, the Group continued to deploy alternative solutions in terms of fleet management, with great agility. Those include a diversification of sourcing channels as well as using longer holding periods and more vehicles sourcing outside buy-back programs. The Group managed very well its fleet on the short-term while preparing Easter and summer seasons.

This resulted in limited reduction in average fleet to 243,000 vehicles at the end of Q1 2022 versus 262,000 average fleet in Q4 2021 with an utilization rate that returned to pre-covid levels, at 72.0% in Q1 2022 compared to 72.6% in Q1 2019, well-above 69.5% achieved in Q1 2021.

MADC more than doubled in Q1 2022 to €196m compared to Q1 2021, reflecting group's successful efforts to optimize its fleet holdings and variable costs while benefiting from positive pricing and favorable resale conditions on the second-hand market. MADC stood at 34.5%, well-above pre-covid levels (29.0% in Q1 2019 PF).

Positive Adj. Corporate EBITDA in Q1 2022, first time ever in Group's history

The Group recorded positive Corporate EBITDA for the first time ever in Q1 2022 (historically negative figure due to seasonality): +€31m compared to a loss of -€44m in Q1 2021 and -€15m in Q1 2019 PF. This illustrated the permanent and ongoing strict discipline of costs as part of the cost adaptation plan with a tight control of HQ and Network costs, while the Group no longer benefited from furlough measures (contrary to Q1 2021): a limited +25% increase with revenue up +57% in Q1 2021. This performance is also well reflected in the comparison with Q1 2019 PF: the Group significantly improved its Corporate EBITDA by +€46m while simultaneously revenue declined by - €52m.