Slide 1: Interim Report October–December 2024
30 Januar y 2025 Interim Report October — December 2024 Andrés Rubio, President & CEO Johan Akerblom, CFO intrum
Slide 2: Today's presenters
Today’s presenters Johan Akerblom CFO Andrés Rubio President & CEO intrum
Slide 3: Fourth quarter 2024 highlights
Fourth quarter 2024 highlights Solid business performance and progress on strategic initiatives Internal development Continued profitability and positive trajectory in Servicing plus Investing collections above expectation Realised cost savings of SEK 1.3 bn by the end of Q4 '24 and adj. cost-income
Slide 4: Recapitalisation Transaction — Update
Recapitalisation Transaction — Update Vine On 31/12/24, U.S. Bankruptcy Court confirmed Intrum’s pre-packaged Chapter 11 plan; denied motion to dismiss filed by certain minority noteholders On 08/01/25, Stockholm District Court approved Intrum’s petition to initiate a Swedish company reorganisation
Slide 5: European consumer confidence remains fragile as higher prices persist
European consumer confidence remains fragile as higher prices persist Confidence in meeting ~40% of Gen Z members use financial obligations has grown credit to cover bills though high costs and economic uncertainty as many are still struggling with high cost of living persist! and young consumers mo
Slide 6: Group Performance: Servicing improvement and Investing collections above forecast
Group Performance: Servicing improvement and Investing collections above forecast 30% vs. 23% 103% adj. EBIT margin Collections vs. active Strong Servicing momentum to forecast continue in 2025 with 19% adj EBIT 101% FY ‘24 and 111% vs. original margin in ‘24 vs 16% in ‘23 forecast for FY ‘24 % | 3%
Slide 7: Servicing: Continued positive development of adj. EBIT margin
Servicing: Continued positive development of adj. EBIT margin Adj. Income and adj. EBIT Margin for Servicing! 21% 20% 13,087 10% |_| | LJ Q4 2022 27% Qi Q2 Q3 Q4 Qi Q2 Q3 2023 10% 16% 12% 23% 10% 19% 18% |_| RTM adj. income == RTM adj. EBIT margin SLE margins on new contract signed and organic growt
Slide 8: Servicing: Significant increase in AuM and resilient income conversion
Servicing: Significant increase in AuM and resilient income conversion SEK bn Opening balance Ext. Servicing AuM Collections in the period! Ext. Servicing income Closing balance Ext. Servicing AuUM 2023 1,314 Oy i we, rate of AuM? 102 | 12.0% crcotectong 12.3 1,461 2024 1,461 1, |—.™% Recovery rate
Slide 9: Investing: Continued high level of value extraction from back book
Investing: Continued high level of value extraction from back book RTM net cash extraction, SEK bn * Continued high net cash extraction on RTM basis of SEK 6.4 bn vs. average of SEK 3.5 bn over last three years + New Investments of SEK 512 M (532) at an IRR of 20% (19%) + Investing book value of SEK
Slide 10: Investing: Exceeded forecasted collections in Q4 and for the full year
Investing: Exceeded forecasted collections in Q4 and for the full year RTM gross cash collections!, M SEK 13,426 13,748 11,817 | | | | | a at a2 8 MA Qt 2 Saks wh 2021 2022 2023 2024 Performance index vs. active forecast i | | | 103% 103% a4 at Q2. ws 6A tO OK QR Qs wh 2021 2022 2023 2024 intrum 1,
Slide 11: Continued progress in pivot to capital light
Continued progress in pivot to capital light Agreed 12 deals together with Cerberus under the Investment Management business Total capex for portfolios won SEK 2,266 M of which Intrum committed to SEK 680' M Portfolios purchased in Finland, Germany, Italy, Spain, Switzerland and the UK Full document
Slide 12: Ophelos: strong progress towards integrating AI across business
Ophelos: strong progress towards integrating Al across business and becoming technology company, ramp up in 2025 Impact to date — Amicable cases NL Cost-to-collect =22% Labour cost -36% Collection rate +25% Next steps for 2025 Total markets with Ophelos by year-end >9 Share of total income from fo)
Slide 13: Financials
v — inancia F intrum
Slide 14: Group key financials: Strong end to a transformative year
Group key financials: Strong end to a transformative year SEKM Q4 2024 Q42023 Change% FY 2024 FY2023 Change% = Net Debt m Cash EBITDA —Leverage ratio Income 4,825 5,007 -4% 18,033 17,705 2% Total costs 4,302 3,834 12% 15,776 —-15,284 3% EBIT 570 1,361 58% ~=—1,941 2777 -30% aa Net income (loss) -767
Slide 15: Items affecting comparability details
Items affecting comparability details ISEK M Q4 2024 Cash/Non-cash item EBIT 570 1,941 Integration/migration 286 743 Cash Goodwill impairment - 668 Non-cash IT impairment 464 472 Non-cash Restructuring programs 168 336 Cash Contract acquisition cost 155 186 Non-cash Net credit gains (losses) PI 47 1
Slide 16: Servicing: strong fourth quarter in a successful year
Servicing: strong fourth quarter in a successful year Adjusted EBIT External income 3,425 3,624 5% 12,579 12,297 2% —rRT™ Internal income 414 272 52% 1,702 1,468 16% Total income 3,839 3,896 -2% 14,281 13,765 4% Total costs -3,239 -3,516 -8% 12,658 12,494 1% 978 1,138 EBIT 516 388 33% 900 1,292 -30%
Slide 17: Investing: Collections exceeded forecast for fourth quarter and full year
Investing: Collections exceeded forecast for fourth quarter and full year SEKM Q42024 Q4 Change% FY2024 FY Income 1,350 1,372 -2% 5,324 5,395 1% Total costs -686 -584 17% -2,823 -2,284 24% Share of Associates and JV 178 181 -2% 480 592 19% EBIT 795 970 -18% 2,904 3,446 16% Items affecting comparabil
Slide 18: Significant decrease in costs in 2024
Significant decrease in costs in 2024 Total Adjusted Cost, bn SEK oe ery costs 2 w Rolling + Absolute Costs significantly down from Q4 4 149 ‘23 driven by extensive focus on cost in 2 7 14,4 el 14,5 16 waves of cost programs 14,0 141 6 135 14 * Total Costs 11% lower Q4 ‘24 versus Q4 ‘23 13, 5 13 + E
Slide 19: Net debt development and underwriting IRRs
Net debt development and underwriting IRRs Net debt development, SEK bn 0.4 0.3 0. 49.9 47 . 8 49.7 7 —_ + Net debt decreased SEK 0.2bn between Q3 and Q4 ‘24 * Significant increase in unlevered underwriting IRR of @3'24! Cash flow Finance Net Investing 2 FX Q4'24 3% vs. Q4 123, + Expect IRR levels f
Slide 20: Maturity profile picture is improving
Maturity profile picture is improving Current maturity profile, SEK bn 13.9 22.8 95 L - 2025 2026 2027 2028 2029 2030 mEURbond m=SEKMTN =PP m@RCFutilised mUnutilisedRCF mTermloan Updated maturity profile post restructuring, SEK bn 128 24 10.2 a5 10 oo [| — 2025 2026 2027 2028 2029 2030 mTermloan mEx
Slide 21: Medium term financial targets: progress since CMD in September '23
Medium term financial targets: progress since CMD in September ‘23 Starting point (Q2 2023 RTM) Q4 2024 10% CAGR 2026 Target ~10% SEK . >25% 3.5x CAGR ~30bn External Servicing adjusted Total Servicing adjusted Proprietary Investing book L P A 3 4 everage ratio income growth EBIT margin value excl. r
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Slide 23: Fourth quarter summary
Fourth quarter summary U.S Ch.11 Ophelos confirmed, Swedish Cost reduction to implementation in reorganisation continue in 2025 markets to ramp up initiated in 2025 Improved profitability in Servicing Collections above forecast in Investing intrum 2
Slide 24: Significant progress made on all strategic initiatives
Significant progress made on all strategic initiatives Selected achievements in 2024 Marked improvements to Servicing profitability achieved with more . * Servicing — Improved adj. EBIT margin with to come in 2025 anes : P 3 ppt in 2024 as a result of the profitability focus Investing collections ab
Slide 25: Financial inclusion is at the core of what we do
Financial inclusion is at the core of what we do Intrum helps millions of customers every year get on a path to financial recovery Beginning of 2024 Intrum had... ..and through... ...Intrum helped SEK bn Cs) ~2,400 ~35M Ow Total AuM Casasin sine: 160 M 45° M Customers Actions ~2 5 M taken that are i
Slide 26: A critical part of the financial ecosystem — helping customers on the path to recovery
A critical part of the financial ecosystem — helping customers on the path to recovery How many individuals have we helped? 4.5°M individuals became debt free with Intrum in the last 12 months. We care deeply about our customers as we help them reintegrate back into the financial system What do our
Slide 27: Q&A
Q&A intrum
Slide 28: Appendix
Appendix intrum
Slide 29: Table of content
Table of content Outstanding interest rate bearing debt Pro forma portfolio investments and ROI Current MoM Estimated Remaining Collections (ERC) Portfolio joint ventures Unsecured portfolio vintages NOaAPRWNN > Financial calendar intrum 29
Slide 30: 1. Outstanding interest rate bearing debt
1. Outstanding interest rate bearing debt * Key Bond and RCF restrictions: + Fixed Charges Coverage Ratio >2x Drawn Super Senior Leverage <2x + Bonds restrict super senior leverage to the higher of EUR 1.1 bn or 35% of 84m consolidated ERC + The weighted average maturity of the debt is 19 months, an
Slide 31: 2. Pro forma portfolio investments and ROI
2. Pro forma portfolio investments and ROI SEK m 12000 11,854 175% 175% 15.7% 147% 8,106 14.0% 9.000 Tad 7,324 7.558 189% 18% 11.8% 2,683 1277 6000 1335 5,508 GED 5,012 ~ 532 1,258 1633 530 40 fe 837 3.000 831 s 2051 Sis) 2783 1,436 ey 1739 512 ‘ 784 664 432 ~ “ i 428 2015 2016 2017 2018 2019 2020 2
Slide 32: 3. Current MoM
3. Current MoM Q4 SEKM Q120 Q220Q3 20 20 Q121 Q221 Q321 Q421 Q122 Q222 Q322 Q422 Q123 Q223 Q323 Q423 Q1i24 Q224 Q324 Q424 Purchase price earning 1,650 1,267 837 1,256 1,443 1,680 1,445 2,133 1,675 3,120 1,347 1,147 1,675 2,854 409 528 328 quarter Lifetime ERC of portfolios 3,036 2,944 1,791 2,554 3,
Slide 33: 4. Estimated Remaining Collections (ERC)
4. Estimated Remaining Collections (ERC) 15-year ERC of SEK 53.1 bn SEK bn 12.0 27% of ERC due next 24 months 9.0 60 [| 3.0 J | i | Hi = = = = Hees -_ = YI Y2 Y3 Y4 YS Y6 Y7 Y8 Yo Y10 Yu Y12 Y13 Y14 YIS "Northern Europe = Middle Europe _mSouthern Europe _= CE Europe (SEKbn) Yi Y2 Y3 Y4 Yé Y7 Yo Y10
Slide 34: 4. Estimated Remaining Collections (ERC)
4. Estimated Remaining Collections (ERC) ERC by Asset Class Real Estate ERC by Geography cee Northern 0% _- Secured ‘Urope Europe “4% 20% 7% Southern Europe 29% Unsecured “ Middle 93% Europe 33% ERC by Investment type ERC by Industry Forward Realestate ner flows Telecom 16% One-off investments 84% i
Slide 35: 5. Top Joint Ventures and Associates
5. Top Joint Ventures and Associates Intrum Investment share (Senior Investment (Intrum), Cash received to date Senior ranking debt remaining, Current ERC (Intrum), Portfolio Geography SEKM excluded), % SEKM (Intrum), ‘SEKM SEKM Orange EU 3,988 35% 1,534 124 3,622 Savoy Italy 3,770 59% 5,027 825 663
Slide 36: 6. Unsecured portfolio vintages
6. Unsecured portfolio vintages Unsecured Purchase Collections Remai Totalestimated — Total money-on- A 5 books, SEKM price Rasta ERC collections imearyarates Constant currency vintage evolution for unsecured books 4.20x <2010 15,035 5.50x 2010 4,609 20m 4,802 2.80x 2012 7,375 a 2013 5,294 2.10x — 5
Slide 37: 7. Financial calendar
7. Financial calendar Financial calendar 7 May 2025 Interim report first quarter 2025 31 July 2025 Interim report second quarter 2025 30 October 2025 Interim report third quarter 2025 29 January 2026 Interim report fourth quarter 2025 intrum 37
Slide 38: Disclaimer
Disclaimer The material in this presentation has been prepared by Intrum AB (publ) (“Intrum”). This information is given in summary form and does not purport to be complete. Information in this presentation, including forecast financial information, should not be considered as advice or a recommenda
Slide 39: Leading the way.
Leading the way. intrum