W.A.G payment solutions (EWG) Investor presentation summary

Business overview and market position

• Leading technology provider for the commercial road transport (CRT) industry in Europe, operating in 25 countries with 19 commercial offices and ~2,000 employees.

• Listed on the LSE since 2021, with a market cap of £710m as of June 2026 and ~322,000 active trucks.

• CRT industry represents ~5% of European GDP, with a total addressable market of €10bn today, expanding to €25bn with future services.

• Over 90% of operators are SMEs facing fragmented systems, low profitability, and high administrative burdens.

Digital platform and product innovation

• EW Office is a fully integrated digital platform, live with 35% customer adoption as of Q1 2026, targeting majority migration by year-end.

• Platform offers transport management, toll, energy, fleet management, financial services, and navigation, reducing costs and administrative tasks.

• Proprietary data and AI solutions drive customer value, including intelligent cost calculators and real-time fraud prevention.

• Extensive fuel and toll network: ~17,000 fuel stations, 2,200 alternative fuel locations, and EETS coverage in 13 countries (expanding to 19 by 2028).

Financial performance and growth

• FY 2025 net revenue grew 12.9% to €330.1m, with adjusted EBITDA up 8.5% to €132.1m (40.0% margin).

• Toll is the main revenue stream, growing 52% year-over-year; payments up 20.1%, mobility up 5.5%.

• Adjusted cash EBITDA rose 10.5% to €98.0m (29.7% margin), with net leverage reduced to 1.9x.

• Capital expenditure reached €56.5m, with €41.4m capitalised R&D focused on platform and product development.

• Special dividend of €24.3m (3.0p/share) paid in FY 2025; guidance for ~€12m (1.5p/share) in FY 2026.