The future of mobility is digital

Sixt Leasing SE: Managing Board and Supervisory Board recommend acceptance of the voluntary public tender by Hyundai Capital Bank Europe GmbH

• Joint reasoned statement by the Managing Board and Supervisory Board published
• Fair financial consideration with an attractive premium for shareholders
• The Managing Board and Supervisory Board welcome the commitment of Hyundai Capital Bank Europe GmbH to support the strategy of Sixt Leasing

Pullach, 6 April 2020 - Today, the Managing Board and Supervisory Board of Sixt Leasing SE have published their reasoned statement in accordance with section 27 of the German Securities Acquisition and Takeover Act (WpÜG) regarding the voluntary public takeover offer by Hyundai Capital Bank Europe GmbH (HCBE) to all shareholders of Sixt Leasing SE. Accordingly, they recommend Sixt Leasing shareholders to accept the takeover offer. HCBE, a joint venture of Santander Consumer Bank AG and Hyundai Capital Services Inc., had announced the offer at a price of EUR 18.00 or, if certain conditions defined in the offer document are met, up to EUR 18.90 per Sixt Leasing share in cash on 21 February 2020 and published the corresponding offer document on 24 March 2020.

The Managing Board and Supervisory Board of Sixt Leasing have independently examined and evaluated the conditions of the takeover offer. Taking into account the information in the statement and the overall circumstances in connection with the takeover offer as well as the objectives and intentions of HCBE as set out in the offer document, the Managing Board and Supervisory Board are of the opinion that the consideration offered by HCBE is appropriate and the takeover offer is in the interest of Sixt Leasing. In addition to the aforementioned recitals, they also used a Fairness Opinion to examine the appropriateness of the consideration offered. The Managing Board and Supervisory Board consider the offer price to be attractive, particularly also in light of the current volatile capital market environment.

The Managing Board and Supervisory Board support the takeover offer and are of the opinion that the completion of the takeover offer is in the interest of Sixt Leasing SE, its shareholders and other stakeholders. The operational measures intended by HCBE, Banco Santander and Hyundai Motors, such as the intention to strengthen and support Sixt Leasing's strategy regarding the growth trend "car-as-a-service", the intention to continue to operate Sixt Leasing in particular as a multi-brand company independent of automobile manufacturers or the further expressed intention to increase the Company's revenues in the Fleet Management business unit by increasing the number of customers, leverage effects in the operating business and international expansion, are considered positive and plausible. Likewise, the Managing Board and Supervisory Board consider the future integration of the Company into the group of two international and financially strong groups to be positive for the future refinancing possibilities of Sixt Leasing. In the interest of the other stakeholders, in particular the employees, the Managing Board and Supervisory Board welcome HCBE's, Banco Santander's and Hyundai Motors' statement that, in principle, there are no plans to carry out major restructuring processes in the organisation or in the employee representatives of Sixt Leasing.

Key data on the takeover offer and the statement
The acceptance period for the offer has started with the publication of the offer document on 24 March 2020 and will end on 30 April 2020, 24:00 hours (CEST). The success of the offer is conditional upon the achievement of a minimum acceptance threshold of at least 55 per cent of the Sixt Leasing shares issued at the end of the acceptance period as well as the occurrence of other customary closing conditions. The Sixt Leasing shares tendered for sale are identified by the ISIN DE000A2888L0.

The joint reasoned statement of the Managing Board and Supervisory Board of Sixt Leasing SE, Pullach, on the voluntary public takeover offer (cash offer) by HCBE to the shareholders of Sixt Leasing SE published on 24 March 2020 is available free of charge from Sixt Leasing SE, Investor Relations, Zugspitzstraße 1, 82049 Pullach, Tel: +49 (0) 89 74444-4518 Fax: +49 (0) 89 74444-85169; E-Mail: ir@sixt-leasing.com.

In addition, the statement is available on the Internet at https://ir.sixt-leasing.com/takeoveroffer.

The statement and any supplements and/or additional statements on possible amendments to the takeover offer will be published in German and in a non-binding English translation. Only the German versions are authoritative.

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About Sixt Leasing:
Sixt Leasing SE based in Pullach near Munich is a leading provider in online direct sales of new vehicles in Germany as well as specialist in management and full-service leasing of large fleets. With tailor-made solutions, the company enables the longer-term mobility of its private and corporate customers.

Private and commercial customers use the online platforms sixt-neuwagen.de and autohaus24.de to lease new vehicles affordably. Corporate customers benefit from the cost-saving leasing of their vehicle fleet and from efficient fleet management.

Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) has been listed in the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) since 7 May 2015. In fiscal year 2019, the Group generated consolidated revenue of EUR 824 million.

www.sixt-leasing.com

Contact:
Sixt Leasing SE
Investor Relations
+49 89 74444 4518
ir@sixt-leasing.com

Sixt Neuwagen and PAYBACK offer city SUV already from EUR 89.95 per month*

• Special promotion for the 20th birthday of PAYBACK
• Kia Stonic with extensive equipment at attractive terms
• Simple vehicle configuration and ordering via PAYBACK App
• Optional service packages available
• Pickup at participating Kia dealerships already possible from June 2020

Pullach, 30 March 2020 - Sixt Leasing SE and its online portal sixt-neuwagen.de have, together with PAYBACK, come up with a very special gift for the more than 31 million PAYBACK customers to mark the 20th anniversary of the bonus programme: As of now, the Kia Stonic "VISION" is available with extensive equipment from EUR 89.95 per month*. The leasing offer is available exclusively in the PAYBACK App and is supplemented by the optional "Insurance" and "Maintenance and Wear and Tear" service packages. The vehicle configuration and ordering, as well as booking the service packages, is very easy and convenient via the PAYBACK App and is handled via Sixt Neuwagen. The first customers will be able to pick up their vehicles from one of the participating Kia dealerships as early as June 2020. The offer is limited and is valid - only while stocks last - until 26 April 2020.

Michael Ruhl, CEO of Sixt Leasing SE: "We are delighted to offer PAYBACK customers an attractive city SUV at top terms, while enabling mobile, fully digital configuration and ordering for the first time. The optional service packages, the short delivery time and additional PAYBACK points round off the offer. Customers can pick up their dream vehicle from one of the participating Kia dealers already a few weeks after their order."

Florian Wolfframm, Head of Marketing und Member of the Management of PAYPACK: "A new car exclusively in the PAYBACK App with points on top! We celebrate our anniversary all year round together with customers and partners. The most important thing for us is to offer them all real benefits. We wish our points collectors a good trip with the city SUV."

Extensive equipment
PAYBACK customers can lease the Kia Stonic "VISION" with a duration of 24, 36 or 48 months and with a mileage of 10,000, 15,000 or 20,000 kilometres per year. The promoted CUV features a 100 hp turbo petrol engine** and numerous extras such as automatic climate control, central locking with radio remote control, 17-inch light-alloy wheels, EcoDynamics with Start Stop System, smartphone integration via Apple CarPlay and Android Auto, Kia radio with touchscreen and Bluetooth hands-free kit, rain sensor, rear parking sensors, a heatable multifunction leather steering wheel and heated seats for driver and front passenger. Customers can choose the metallic paint finishes Aurora Black, Signal Red, Denim Blue or Graphite.

Pictures for download (click on link):

• Kia Stonic "VISION" Campaign (Photo credit: PAYBACK)
• Kia Stonic "VISION" in Aurora Black (Photo credit: Kia)
• Kia Stonic "VISION" in Signal Red (Photo credit: Kia)
• Kia Stonic "VISION" in Denim Blue (Photo credit: Kia)
• Kia Stonic "VISION" in Graphite (Photo credit: Kia)

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* plus one-time transfer costs of EUR 750.09; special promotional rate of EUR 89.95 only available for a duration of 24 months and a mileage of 10,000 kilometers. Further duration and mileage combinations possible.

** The engines have the consumption and emission figures listed below. The figures were determined according to the newly introduced "Worldwide harmonized Light vehicles Test Procedure" (WLTP). In order to maintain comparability with vehicles measured according to the previous test procedure (NEDC), the values, which have been correlated back in accordance with the applicable regulations, are shown according to the NEDC standard. The engines thus comply with the Euro 6d-Temp.

Kia Stonic 1.0 T-GDI 100
Fuel consumption combined 5.2-5.0 l/100 km; CO2 emissions combined 120-115 g/km

Further information on the official fuel consumption and the official specific CO2 emissions of new passenger cars can be found in the "Leitfaden über den Kraftstoffverbrauch, die CO2-Emissionen und den Stromverbrauch neuer Personenkraftwagen", which is available free of charge at all sales outlets and from DAT Deutsche Automobil Treuhand GmbH, Hellmuth-Hirth-Straße 1, 73760 Ostfildern. The guide is also available on the Internet at www.dat.de.

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About Sixt Leasing:
Sixt Leasing SE based in Pullach near Munich is market leader in online direct sales of new vehicles in Germany as well as specialist in management and full-service leasing of large fleets. With tailor-made solutions, the company enables the longer-term mobility of its private and corporate customers.

Private and commercial customers use the online platforms sixt-neuwagen.de and autohaus24.de to lease new vehicles affordably. Corporate customers benefit from the cost-saving leasing of their vehicle fleet and from efficient fleet management.

Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) has been listed in the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) since 7 May 2015. In fiscal year 2019, the Group generated consolidated revenue of EUR 824 million.

www.sixt-leasing.com

About PAYBACK:
PAYBACK is the leading multi-partner bonus programme, which is already being used enthusiastically by over 31 million customers in Germany alone. Based on the simple principle of "one programme - many partners", they receive points and coupons for their purchases from around 680 PAYBACK partner companies, saving them a considerable amount every year.

90 percent of the points collected are redeemed by customers, the majority in value vouchers from partners or in rewards. PAYBACK has launched an app that combines mobile point collection, coupon activation and payment for the first time. The app is actively used by 10 million users. It is already one of the top 3 shopping apps in Germany.

www.PAYBACK.de

Press contact Sixt Leasing:
Kirchhoff Consult
Nikolaus Hammerschmidt
+49 40 609186 18
nikolaus.hammerschmidt@kirchhoff.de

Press contact PAYBACK:
Nina Purtscher
Head of Corporate & PAYBACK PR
PAYBACK GmbH
Theresienhöhe 12
80339 München
Germany
+49 (0) 89 997 41 - 206
nina.purtscher@PAYBACK.net
PAYBACK.net
PAYBACK.de
facebook.com/PAYBACK
twitter.com/Presse_PAYBACK

Sixt Leasing SE: Significant increase in contract portfolio in 2019 financial year - More demanding general conditions in 2020

• Group contract portfolio climbs to record level in 2019 financial year - All three business fields return to growth in the fourth quarter
• Number of new contracts in the Online Retail business field increases by more than 30 per cent year-on-year in 2019
• Consolidated operating revenue and earnings before taxes (EBT) below previous year's level, as expected
• Outlook for 2020: Slight increase in Group contract portfolio and consolidated operating revenue at about the previous year's level expected; EBT influenced by Coronavirus and costs in connection with the announced takeover offer
• Offer document of HCBE published on 24 March 2020 after approval by Bafin
• CEO Michael Ruhl: "Our goal remains to become the leading provider of longer-term auto-mobility in Europe. Therefore, we want to continue to implement our 'DRIVE>2021' strategy programme and, in particular, expand our product and service portfolio."

Pullach, 25 March 2020 - Sixt Leasing SE, a leading provider in online direct sales of new vehicles in Germany as well as specialist in the management and full-service leasing of large fleets, has significantly increased its Group contract portfolio in the 2019 financial year according to preliminary calculations (IFRS). By the end of December, the Group contract portfolio had climbed to 136,200 contracts, reaching the highest level in the company's history. The main reason for this was the positive development in the fourth quarter. Consolidated operating revenue decreased slightly. Consolidated earnings before taxes (EBT) were 4.0 per cent below the previous year's level. Thus, business development was in line with the expectations of the Managing Board in accordance with the forecast adjusted in October 2019. In the current 2020 financial year, the general conditions are becoming more demanding, according to the Managing Board.

Business development in the fourth quarter of 2019

In the fourth quarter of 2019, all business fields were able to increase their contract portfolio compared to the third quarter of 2019. The contract portfolio in Online Retail grew by 1.7 per cent. The Fleet Leasing business field recorded an increase of 2.7 per cent - thus it grew in comparison to a previous quarter for the first time since the fourth quarter of 2017. The contract portfolio in the Fleet Management business unit climbed by 16.4 per cent, in particular due to the acquisition of Flottenmeister GmbH. Overall, the Group's contract portfolio in Germany and abroad (excluding franchise and cooperation partners) grew by 7.1 per cent compared to the previous quarter.

Business development for the full year 2019

Compared to the previous year, the number of contracts in the Online Retail business field decreased slightly by 0.8 per cent to 44,300 in the 2019 financial year. A significantly higher number of expiring contracts was offset by more than 13,000 new contracts, an increase of more than 30 per cent compared to the previous year.

The number of contracts in the Fleet Leasing business field declined by 6.1 per cent to 40,400 in the 2019 financial year. This was mainly due to further vehicle returns following the loss of a volume customer in the previous year.

The Fleet Management business unit recorded a significant increase in the contract portfolio by 22.5 per cent to 51,500 contracts, mainly due to the acquisition of Flottenmeister GmbH with around 7,000 contracts.

Overall, the Group's contract portfolio in Germany and abroad (excluding franchise and cooperation partners) thus rose significantly by 5.0 per cent to 136,200 contracts in the 2019 financial year. This is in line with the Managing Board's forecast, which was adjusted in October 2019.

Consolidated revenue grew by 2.3 per cent year-on-year to a record EUR 824.4 million. Consolidated operating revenue (excluding sales revenue) decreased by 2.6 per cent to EUR 468.2 million. The Managing Board had recently expected a figure in the region of EUR 465 million. Sales revenues from leasing returns and marketed customer vehicles in fleet management rose disproportionately by 9.5 per cent to EUR 356.3 million. The higher number of vehicle returns in the Online Retail business field contributed in particular to this increase.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) decreased by 3.4 per cent to EUR 232.7 million in the 2019 financial year. Consolidated earnings before taxes (EBT) for the 2019 financial year were 4.0 per cent below the previous year's figure at EUR 29.3 million. The Managing Board had recently expected EBT in the region of EUR 29 million. The operating return on revenue remained almost stable at 6.3 per cent (2018: 6.4 per cent). Consolidated profit declined by 2.0 per cent to EUR 21.5 million.

Michael Ruhl, CEO of Sixt Leasing SE: "In 2019, we were able to increase our contract portfolio significantly, but in 2020 the general conditions are becoming more demanding. The spread of the Coronavirus in particular presents us with major challenges. Nevertheless, we are convinced that we can master this situation. Not least, we expect our potential new strategic major shareholder to give us a tailwind. Our goal remains to become the leading provider of longer-term auto-mobility in Europe. Therefore, we want to continue to implement our 'DRIVE>2021' strategy programme and, in particular, expand our product and service portfolio."

Support from new strategic major shareholder

With the purchase of Sixt SE's 41.9 per cent stake in Sixt Leasing SE by Hyundai Capital Bank Europe GmbH (HCBE) on 21 February 2020, Sixt Leasing SE has a new strategic major shareholder. The joint venture between Santander Consumer Bank and Hyundai Capital Services supports the existing strategy of the Sixt Leasing Group. As planned, the Managing Board of Sixt Leasing will therefore focus in the 2020 financial year on the further digitalisation of the business model and the alignment of the organisation to future national and international growth.

On 24 March 2020, HCBE published the offer document after approval by Bafin. The regular acceptance period runs up to and including 30 April 2020. Further details of the takeover offer can be found at hcbe-offer.com.

Outlook

The forecast published on 20 March 2020 applies to the current 2020 financial year. Accordingly, the Managing Board expects a slight increase in the Group's contract portfolio compared with the preliminary figures for the 2019 financial year and consolidated operating revenue to be roughly at the previous year's level. With regard to EBT, the Managing Board expects a figure very significantly below the previous year's level.

The cautious forecast is, in addition to the operative business development to date in the current year 2020, mainly due to the current national and international development of the COVID-19 situation. Moreover, the consolidated earnings in the 2020 financial year will be burdened by costs independent of the completion of the takeover bid from HCBE in a low single-digit million euro range, which will be incurred to a significant extent in Q1 2020. If the transaction is successfully completed, which is expected in the second half of 2020, further one-off costs of the company (e.g. IT expenses, consulting fees and bonuses) in a high single-digit million euro range are also expected in 2020. Possible growth impulses from the change of the major shareholder are not included in these forecasts, as they cannot be quantified at present.

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About Sixt Leasing:
Sixt Leasing SE based in Pullach near Munich is a leading provider in online direct sales of new vehicles in Germany as well as specialist in management and full-service leasing of large fleets. With tailor-made solutions, the company enables the longer-term mobility of its private and corporate customers.

Private and commercial customers use the online platforms sixt-neuwagen.de and autohaus24.de to lease new vehicles affordably. Corporate customers benefit from the cost-saving leasing of their vehicle fleet and from efficient fleet management.

Sixt Leasing SE (WKN: A0DPRE / ISIN: DE000A0DPRE6) has been listed in the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) since 7 May 2015. In fiscal year 2019, the Group generated consolidated revenue of EUR 824 million.
www.sixt-leasing.com

Contact:
Sixt Leasing SE
Investor Relations
Stefan Kraus
+49 89 74444 4518
ir@sixt-leasing.com

Note:
All fiscal year 2019 figures in this release are preliminary and subject to possible change. The final and audited 2019 consolidated annual financial statements for Sixt Leasing Group will be published on 29 April 2020.

THE SIXT LEASING GROUP IN 2019 AT A GLANCE¹

¹ Preliminary figures according to IFRS; rounding differences possible
² Ratio of EBT to operating revenue

Sixt Leasing SE: Preliminary group results for 2019, expected business development in Q1 2020, forecast for 2020 and withdrawal of medium-term forecast

Pullach, 20 March 2020 - Sixt Leasing SE announces its preliminary and unaudited consolidated results (IFRS) for its 2019 financial year. According to these figures, the group's contract portfolio as of 31 December 2019 has increased considerably by around 5% in comparison to the corresponding previous year to 136.200 contracts (previous year: 129.700 contracts). Consolidated operating revenue (excluding sales revenue) declined by 2.6% to around EUR 468.2 million (previous year: EUR 480.5 million) and consolidated earnings before taxes (EBT) by 4% to around EUR 29.3 million (previous year: EUR 30.5 million). Business development thus met the expectations of the Management Board according to the forecast for the 2019 financial year, which was adjusted in October 2019.

However, according to current estimates by the Management Board, consolidated earnings before taxes (EBT) for the first quarter of 2020 are expected to decline substantially compared to the same period of the previous year (EBT Q1 2019: EUR 7.0 million). This estimate takes into account the internal accounting status including February 2020 and the expected development in March.

The forecast for the current 2020 financial year adopted by the Management Board today falls short of current market expectations and the underlying analyst consensus. Accordingly, compared with the preliminary figures for the 2019 financial year and taking into account the business development in 2020 to date, the Management Board expects a slight increase in the group's contract portfolio and a consolidated operating revenue approximately on the previous year's level. With regard to EBT, the Management Board expects it to be substantially lower than in the previous year.

The reason for the expected decline in Q1 2020 and the cautious forecast for the full year 2020 is, in addition to the current operating business development in the financial year 2020, above all the current national and international development of the COVID-19 situation. In this respect, the company assumes an at least temporary deterioration of the market and business environment and expects a recovery of the business development in the second half of the year. In addition, the consolidated net results in the 2020 fiscal year will be burdened by costs of the company related to the takeover offer of Hyundai Capital Bank Europe GmbH in the low single-digit million euro range, which are independent from its completion and will be incurred to a significant extent already in Q1 2020.

If the above transaction is successfully completed, which is expected in the second half of 2020, further one-off costs of the company (e.g. IT expenses, consulting fees and bonuses) in the high single-digit million euro range are also expected in 2020.

Due to the above-mentioned uncertainties, the Management Board is currently unable to make a more precise and reliable assessment of the medium-term business development. The Management Board is therefore withdrawing its medium-term forecast published on 13 March 2019 and, under the current circumstances, refrains from issuing a new medium-term forecast until further notice.

As planned, Sixt Leasing SE will report in detail on the preliminary figures for the 2019 financial year on 25 March 2020 and publish its quarterly Q1 2020 statement on 12 May 2020.

Note: "Consolidated operating revenue" is not a financial figure according to IFRS. Information on the composition of consolidated operating revenues can be found on page 47 of the Sixt Leasing SE annual report 2018 (available at https://ir.sixt-leasing.com).

All information in this release regarding the 2019 fiscal year is based on still preliminary figures which are subject to changes. The complete and audited Annual Report 2019 will be published as planned on 29 April 2020.

Contact:
Stefan Kraus
Investor Relations
E-mail: ir@sixt-leasing.com
Tel: +49 89 74444 4518