D'Ieteren : PHE Day presentation

"Promoting affordable and sustainable mobility"

Presenters / Agenda

Stéphane Antiglio

CEO

Christophe Gouthière

CFO

Jeremy de Brabant COO (B2B)

Murielle André

CHRO

1. INTRODUCTION : PHE AT A GLANCE
2. MARKET
3. • PHE addressable market
   • Market drivers & dynamics
4. PARTS HOLDING EUROPE (PHE)
5. • Strategy
   • Operating model excellence
   • M&A
   • ESG & People
   • Financial performance
6. KEY TAKEAWAYS

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PHE at a glance

A leading omni-channel and digitally enabled Western European auto parts distributor

Parts	c.275
manufacturers	suppliers in auto spare parts

B2B

B2C

6 countries

#1

in French LV (1) B2B(2) and B2C(3)

#1

9,500 employees

#5

in Dutch

LV B2B

#2

in Belgian

LV B2B

c.600

distribution sites

c.600k

SKUs

1

leading e-commerce website

c.1.0m

SKUs

in Spanish regions where present LV B2B(4)

#1

in Italian

LV B2B

e-commerce website

c.70k

cB2B.600kcustomers o/w

SKUs

c.4k

branded independent garages

(#1 IAM network in France)

c.2m

conline.1.0mOscaro customers in 2023

SKUs

Offline B2C

presence (OTC)

Financial highlights 2023

Revenues: €2.6bn Adjusted EBIT(5): €231.6m

% ofAdjusted EBIT margin: 9.1% FY23 sales

Sources: Company information and estimates, Roland Berger 2023 Market Report
Notes: (1) LV = Light Vehicle ; (2) Also #1 in Independent Aftermarket (IAM) Truck parts ; (3) via Oscaro.com; (4) Catalona, Valencia Community, La Rioja, San Sebastian community,	D'Ieteren Group	PHE Day	3
Lerida, Huesca and Andorra. PHE is also a leading member of AD Parts (#1 LV B2B network in Spain) ; (5) post IFRIC SaaS & MPB disposal

PHE at a glance

Multi-specialist vehicle spare-parts distributor covering all market segments…

Today

	2016		2018
1962		2014		2017		2019

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PHE at a glance

… with a vast and growing product assortment

Category

Repair & Maintenance		Collision		Others
Mechanical / Tires / Batteries /		Paint / Body panels / Doors / Glass /		Garage equipment / Diagnosis tools /
Lubricant		Light / Bumpers		Consumables / Accessories

Products

Contribution
to sales(1)
			c.80% of sales		c.16% of sales		c.4% of sales
Sources: Company information and estimates				D'Ieteren Group	PHE Day	5
Note: (1) 2023

PHE at a glance

PHE plays a critical distribution role in the complex and large automotive aftermarket

Manufacturing

Car

manufacturers

(Original Equipment

Manufacturer)

Parts

manufacturers

(Original Equipment

Supplier)

Private label

Generic

Manufacturers

Mainly

sourcing

from

OEM

parts,

more

expensive than IAM channel

Mainly

sourcing from OES parts, equivalent but cheaper than OEM

Distribution

OEM aftersales distribution

Independent aftermarket

wholesalers (IAM)

Online

				Retail / Service
					OEM
				Certified repairers
				retail
				and agents
				Chained IAM
					Aftermarket
				Independent IAM
					retailers (IAM)
				OTC (retail)

Do-It

For-Me

Do-It

Yourself

Average	Key decision
car age	criteria
	yrs			Warranty
	0-4
					Simplicity
					Safety
	yrs
	5-30			Delivery
			time
					Affordability
	yrs			Affordability
	10-30			Flexibility

End

customer

car parc

Sources: Company information, Roland Berger 2023 Market Report

Note: Illustrative and non-exhaustive view of market

PHE scope of operations	PHE addressable end-markets	D'Ieteren Group

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Agenda

1. INTRODUCTION : PHE AT A GLANCE
2. MARKET
3. • PHE addressable market
   • Market drivers & dynamics
4. PARTS HOLDING EUROPE (PHE)
5. • Strategy
   • Operating model excellence
   • M&A
   • ESG & People
   • Financial performance
6. KEY TAKEAWAYS

D'Ieteren Group

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PHE addressable market

A c.€100bn, steadily growing and resilient aftermarket…

European auto aftermarket (at distribution level, in €bn)

							Back to pre-
		+2% CAGR					Covid level				+2% CAGR(1)
				-14% YoY	+6% YoY		+10% YoY	+5% YoY
					98	102	112
		93			93
85		84
80

2014

2019

2020

2021

2022

202320252030

Car parc in Europe
330	+14%	375	+4%	390
(Units m)
Vehicle age (# Years) 10.5	+14%	12.0	+13%	13.6

While new car sales are fluctuating with cycles, spare parts aftermarket is resilient as linked to the underlying car parc

Resilient customer demand even in economic crisis

Source: Roland Berger 2023 Market Report	D'Ieteren Group	PHE Day	8
Note: (1) Excluding macro inflation

PHE addressable market

…with a high degree of predictability…

Average age of cars served by PHE is 13 years

Average age of cars served by PHE: 13yrs

OEM

Car 0y production

IAM

5y

30y

Scrap

100%

• cars serviced in 2025 by PHE already sold today

Ensuring PHE 15+yrs visibility to anticipate & seize long-term opportunities

Sources: companies' information, Capital IQ, Orbis, AAG, Wolk, Roland Berger

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Market drivers

… and underpinned by structural growth drivers

A	Growing & ageing car parc
		B	Dense IAM presence

C Increasing technology, complexity and value

DElectrification

E	Regulation / Emissions reduction

Other trends

Supply chain		Sustainability	Data /	New
& inventory	Affordability	/ remanufac-
Connectivity	OEMs
turbulences		turing

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