Forest restoration programs are increasingly adopted to mitigate climate change-driven ecosystem degradation, yet the plant functional strategies underpinning successful tree establishment are not fully understood. We investigated the effect of vapour pressure deficit and soil conditions on the interplay between leaf gas exchange and carbon metabolism in three-year-old saplings of different species characterised by distinct functional strategies, as well as non-structural carbohydrate (NSC) partitioning at plant desiccation. We performed two complementary experiments to evaluate interspecific functional differences between Fraxinus ornus L., Quercus cerris L., and Quercus pubescens Willd. in a Mediterranean restored woodland and to compare them with fully irrigated nursery conspecifics. Stomatal sensitivity to closure was similar between species, whereas higher leaf gas exchange and reduced leaf shedding increased twig sugars, as in the case of F. ornus, likely contributing to its better establishment. Irrigation augmented gas exchange rates in potted saplings under moderate evaporative demand but overall did not increase NSCs compared with outplanted conspecifics, possibly because of different carbon demand. Desiccated saplings maintained substantial NSCs, but their reduced pools, especially starch, suggested that they were consumed as a response to drought. Overall, findings indicate that NSC allocation can help define proxies of plant performance in restoration programs.