Slide 1: Investor presentation April 2026
Investor presentation April 2026
Slide 2: Important information and disclaimer (1/2)
Important information and disclaimer (1/2) THIS PRESENTATION AND ITS CONTENTS IS NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRIC
Slide 3: Important information and disclaimer (2/2)
Important information and disclaimer (2/2) This Presentation speaks as of the date hereof. The information contained in this Presentation should be considered in the context of the circumstances prevailing at the time and has not been, and will not be, updated to reflect developments that may occur
Slide 4: Agenda
Agenda Transaction highlights Appendix
Slide 5: Today’s presenters
Today’s presenters 19 6 5 Johnny Tsolis Kyrre Svae Nina Mortensen CEO Deputy CEO & CSO CFO Years in the industry 5
Slide 6: Axactor is a leading pan-European debt investor and collector
Axactor is a leading pan-European debt investor and collector… Core offering Operational highlights Overview (2025A) Pan-European presence with EUR 2.2bn Pre default collection proprietary origination channels Est. remaining collection Best-in-class 3PC segment EUR 213m Cash EBITDA Debt collection T
Slide 7: Operating in a large and growing market with favorable fundamentals
…operating in a large and growing market with favorable fundamentals Large and growing market Selected tailwinds Stage 2 and stage 3 development in Axactor’s six markets (EURbn) Stage 2 Structural credit tailwinds driving NPL1 supply Stage 3 +1.4x 1,092 188 781 Large and growing NPL1 stock across Eu
Slide 8: Transformational transaction backed by Fortress and Geveran to support next phase of growth
Transformational transaction backed by Fortress and Geveran to support next phase of growth Summary EUR 200m private placement, of which EUR 175m pre-committed by Fortress1 and Geveran Equity - Offer price of NOK 4.70 per share - Potential subsequent offering of up to EUR 20m to existing shareholder
Slide 9: Indicative timeline
Indicative timeline • Transaction announcement 28 April • Launch of the private placement 29 April • Call for extraordinary general meeting to seek approval for the private placement and subsequent offering 20 May • Extraordinary general meeting to approve the private placement and subsequent offeri
Slide 10: Industry-leading position with strengthened balance sheet to capitalize on investment opportunities
Industry-leading position with strengthened balance sheet to capitalize on investment opportunities 1 Strong backing from leading, highly experienced industry investors, Fortress and Geveran Significantly deleveraging the business, resulting in a lower cost of funding and enhanced investment 2 capac
Slide 11: Strong commitment from leading and highly experienced industry investors, Fortress and Geveran
Strong commitment from leading and highly experienced industry investors, Fortress and Geveran Fortress - Leading European investor in NPL1 portfolios and servicing platforms Geveran - Long-term shareholder of Axactor EUR 136bn EUR +74bn 20+ AUM of Fortress- GBV of purchased Geveran Years of NPL bac
Slide 12: Transaction unlocks clear path to significant earnings growth
Transaction unlocks clear path to significant earnings growth Illustrative net income growth drivers EUR 36m Net income 2025A Deleveraging Refinancing Higher investments 3PC growth Mid-term net income ✓ Step-change in investment capacity – generating higher ✓ Day-1 3PC revenue ✓ Reduced interest ✓ O
Slide 13: Strengthened capital structure unlocks potential for new investments, refinancing at lower cost and M&A
Strengthened capital structure unlocks potential for new investments, refinancing at lower cost and M&A Significant balance sheet strengthening Potential for lower funding cost Net interest-bearing debt (EURm) Leverage1 NIBD/Cash EBITDA Axactor Peers3 Bond yield4 Leverage is expected to rise to the
Slide 14: Transformed balance sheet unlocks investment capacity
Transformed balance sheet unlocks investment capacity Higher investment capacity Disciplined deployment Axactor NPL investment capacity, pre- and post transaction1 (EURm) Partnership with Fortress supports disciplined capital deployment at attractive risk-adjusted returns ~7x ~570 Enhanced underwrit
Slide 15: Co-investment partnership driving capital-light revenue growth
Co-investment partnership driving capital-light revenue growth Co-investment agreement in brief Illustrative investment per year • 75% Axactor / 25% Fortress (65% / 35% on amounts above Growth target: Economics EUR 300m annually) Investments of EUR 200-400m annually Consolidation • Axactor retains c
Slide 16: 3PC segment and co-investment servicing driving robust growth
3PC segment and co-investment servicing driving robust growth Strong 3PC momentum Asset-light servicing set to increase 3PC revenue (EURm) 3PC revenue originates exclusively 3PC revenue, co-investments from external servicing 31% 38% 36% 38% 38% 3PC revenue uplift day 1 from Co-investment servicing
Slide 17: Revised financial targets for 2027 and onwards
Revised financial targets for 2027 and onwards Total shareholder Growth ROE Leverage distribution Focus on moderate Investments of leverage to create an Minimum 50% of EUR 200-400m annually optimal capital structure adj. net income, distributed Annual ROE exceeding 15% through cash dividends Average
Slide 18: Agenda
Agenda Transaction highlights Appendix
Slide 19: Terms and abbreviations
Terms and abbreviations Abbreviations 3PC Third-party collection AGM Annual general meeting APM Alternative performance measures ARM Accounts receivable management B2B Business to business Terms B2C Business to consumer Active forecast Forecast of estimated remaining collection on NPL portfolios BoD
Slide 20: Key financials
Key financials For the quarter end Full Year EUR million 31 Mar 2026 31 Mar 2025 31 Dec 2025 Gross revenue 75 77 335 Total revenue 53 65 258 EBITDA 22 32 133 Cash EBITDA 45 47 213 Net profit/(loss) after tax 1 10 36 EBITDA margin 42% 50% 51% Return on equity to shareholders, annualized 1% 12% 10% Eq
Slide 21: Risk factors (1/5)
Risk factors (1/5) RISKS RELATED TO THE BUSINESS OF THE COMPANY AND THE INDUSTRY IN WHICH IT OPERATES Competitive risks The Group faces stiff competition, both from pan-European competitors and competitors in the local markets. These competitors may offer better prices for debt collection contracts,
Slide 22: Risk factors (2/5)
Risk factors (2/5) Availability of debt collection contracts, debt portfolios and Collection Platforms for purchase depends on several factors which are outside of the Group's control The Group is dependent on identifying attractive debt portfolios and collection platforms and on entering into debt
Slide 23: Risk factors (3/5)
Risk factors (3/5) The industry in which the Group operates is highly regulated The debt collection and debt purchasing industry within the markets the Group operates are highly regulated, including with respect to license, data protection and anti-money laundering. The industry is under enhanced sc
Slide 24: Risk factors (4/5)
Risk factors (4/5) There is a risk that the Group will not be able to successfully maintain and develop its IT platform The Group relies on its IT platform and its ability to use these technologies to record and process significant amounts of data quickly and accurately to access, maintain and expan
Slide 25: Risk factors (5/5)
Risk factors (5/5) Risks related to currency exposure and hedging The Group faces risks related to currency fluctuations between the different jurisdictions, which may impact assets, debt and earnings, as parts of the Group’s business activities are carried out in NOK and SEK while the reporting cur
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