Slide 1: Interim Report July — September 2024
23 October 2024 Interim Report July — September 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: Third quarter 2024 highlights
Third quarter 2024 highlights Seasonally weak quarter but on track year-to-date Internal development Continued strong profitability and trajectory in Servicing, while Investing pivots to capital light Realised cost savings of SEK 1.1 bn by the end of Q3 ‘24 and adj. cost-income ratio decreased 2% vs
Slide 4: Recapitalisation Transaction — Next Steps
Recapitalisation Transaction — Next Steps certain consents under the MTNsto facilitate the prepackaged Chapter 11 and the Recapitalisation Transaction (the “Consent A On 18 October 2024, Intrum launched the solicitation of creditors’ votes for a prepackaged Chapter 11. Intrum is also seeking Solicit
Slide 5: European consumers are coping — for now
European consumers are coping — for now 37% of European 39% would rely on debt if consumers borrow confronted with an to pay bills unexpected expense 30% say they have done this more than Of EUR 200 or more! once over the past six months! 31% of millennials don’t 25% would feel more pay their bills
Slide 6: Group Performance: Expanding Servicing and transforming Investing
Group Performance: Expanding Servicing and transforming Investing while improving costs and aligning capital structure 5 portfolios ce) ce) 18 to vs. 12 h to be acquired together adj. EBIT margin with Cerberus Strong Servicing momentum with Reshaping the future for our more to come Investing busines
Slide 7: Servicing: Strong development of adj. EBIT margin
Servicing: Strong development of adj. EBIT margin Adj. Income and adj. EBIT Margin for Servicing! HB RTM adj. income == RTM adj. EBIT margin 24% * RTM adj. income up 6% vs. 14338 CAGR Q3 ‘23 20% + Adj. EBIT margin up 6 ppt vs. 12,962 Q3 ‘23 and RTM up 1 ppt. vs. noe oe 10% oe Qs aa al a2 Qs aa al Qa
Slide 8: Servicing: Solid income growth and strong adj. EBIT growth
Servicing: Solid income growth and strong adj. EBIT growth Performance development from RTM @3 2023 to RTM Q3 2024 Ext. Servicing Income growth Adj. EBIT growth Adj. EBIT margin expansion intrum Northern Europe 4% 70% +6 ppt Middle Southern Europe Europe 32% 8% 53% -13% +2 ppt -5 ppt + Northern Euro
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 b n erraction " * Continued high net cash 10.0 extraction on RTM basis of 9.0 SEK 7.4 bn vs. average of 8.0 SEK 3.3 bn over last three 70 years 6.0 5.0 * New Investments of SEK 311 40 M (531) at an IRR of
Slide 10: Investing: Solid collectability in a seasonally slower quarter
Investing: Solid collectability in a seasonally slower quarter RTM gross cash collections, M SEK 12,782 13,913 | | | | | | Q3 Q4 Ql Q2 Q3 Q4 Ql Q2 Q3 Q4 Ql Q2 Q3 2021 2022 2023 2024 Performance index vs. active forecast 112% | | | Q3 Q4 Ql Q2 Q3 Q4 Ql Q2 Q3 Q4 Ql Q2 Q3 2021 2022 2023 2024 intrum RTM
Slide 11: Pivot to capital light - Investment management
Pivot to capital light - Investment management Status Completed ~30% back-book sale to Cerberus end of June Won 5 deals together with Cerberus under the Investment Management business Total capex for portfolios won SEK 1,757 M of which Intrum deployed SEK 479! M Portfolios purchased in Germany, Ital
Slide 12: Next steps for Ophelos implementation
Next steps for Ophelos implementation 2023 2024 2025 ; ¢ Ambitious roll-out plan with Sequence Country Q@3. 4 Qi @2.) Qs @Q4 Qi @2.) @3— @Q4 circa half of our servicing markets onboarded by end of enced @ Netherlands _ 2025 206 Belgium Fs Targets ; * Short-term - Improving digital 3 @ Spain | contac
Slide 13: Leading the way to a sound economy
Leading the way to a sound economy How many individuals have we helped? Nordea Research ESG rating at BBB 4 M + Maintained a solid BBB rating, in line with e the financial sector average individuals became debt free with Intrum in the last 12 months . High level of transparency, achieving 90% in dis
Slide 14: Financials
v — inancia F intrum
Slide 15: Group key financials: seasonally slower quarter
Group key financials: seasonally slower quarter SEKM Q32024 Q32023 Change% RTM FY 2023 Income 4171 4,378 5 18,214 17,705 Total costs -3,649 -4,341 16 -15,318 15,284 EBIT' -127 50 -352 2,734 2,775 Net income/(loss) attributable to 4,210 “aul 4194 2596 188 Parent company’s shareholders Adjusted costs
Slide 16: Servicing: continued positive margin development
Servicing: continued positive margin development External income 2,904 3,016 12,776 12,297 Internal income 437 385 3 1,561 1,468 Total income 3,341 3,401 -2 14,338 13,765 Total costs -3,016 “3,115 3 -12,936 12,494 EBIT -336 288 -217 772 1,292 Items affecting comparability 926 18 685 1,666 821 Adjust
Slide 17: Investing: stable collectability of back-book
Investing: stable collectability of back-book SEKM Q32024 @32023 Change% RTM FY 2023 Income 1,250 1,362 8 5,346 5,395 Total costs -635 -555 14 -2,718 -2,284 Share of Associates and JV 54 108 -50 483 592 EBIT 629 816 -23 3,081 3,446 Items affecting comparability 44 183, 76 185 457 Adjusted EBIT 673 9
Slide 18: Costs significantly down in Q3 2024
Costs significantly down in Q3 2024 Total Adjusted Cost, bn SEK Bn SEK Bn SEK Quarterly costs 12M Rolling 7 14 13.4 13.6 13.5 6 13 5 4 2 3 2 " 1 10 ° 4 9 Qi 23 Q223 Q3 23 Q4 23 Qi 24 Q2 24 Q3 24 @ R12 Costs Excl M&A and Disc Operations Ill Costs in M&A and Disc Operations Ill Adjusted Costs excl M&A
Slide 19: Net debt development and underwriting IRRs
Net debt development and underwriting IRRs Net debt development, SEK bn 494 42 13 0.6 -0.2 49.9 a ¢ Net debt increased slightly between Q2 and Q3 ‘24 | * Significant increase in SS unlevered underwriting IRR of 224! Cash flow Finance Net Investing 7 FX Q3'24 3% vs. Q3 ‘23 Underwriting returns vs. fu
Slide 20: Maturity profile
Maturity profile Current maturity profile, SEK bn 13.8 227 9.4 ¢ Updated maturity profile will 51 extend any meaningful 15 || maturities 2 year out and = 0.0 0.0 extend principal maturities 20241 2025 2026 2027 2028 2029 2030 til 2030 mEURbond m=SEKMTN =PP m@RCFutilised mUnutilisedRCF mTermloan Und
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) Q3 2024 12% CAGR 2026 Target ~10% SEK . >25% 3.5x CAGR ~30bn External Servicing adjusted Total Servicing adjusted Proprietary Investing book L P A 9 q everage ratio income growth EBIT margin value excl. r
Slide 22: Summary
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Slide 23: Third quarter summary
Third quarter summary Significant cost Meaningful Ambitious roll-out reduction realised, progress on plan for Ophelos more to achieve recapitalisation in 2025 Continued profitability improvement in Servicing Stable collectability while transforming Investing intrum 2
Slide 24: Q&A
Q&A intrum
Slide 25: Appendix
Appendix intrum
Slide 26: 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 NOOB WN > Cost-saving program intrum 26
Slide 27: Outstanding interest rate bearing debt
1. Outstanding interest rate bearing debt Nominal Amount in Coupon Currency Couponrate Maturity date Next payment Date ISIN cen) Ga Gere + Key Bond and RCF restrictions: ‘SEK* 1,500 1,500 727% 01/10/2024 Quarterly 03/07 final coupon SEO013102407 + Fixed Charges Coverage 03/07/2024 Ratio >2x , SEK 40
Slide 28: Pro forma portfolio investments and ROI
2. Pro forma portfolio investments and ROI SEK m 11,854 12000 175% 175% 15.7% 147% 8,106 14.0% 9.000 14.4% 7324 7,538 189% am 11.8% 2,683 Bae) 6000 as 5,508 3,780 5,012 633 530 1,258 1633 3 4M0 837 3141 831 d 3000 aon 2,783 1,436 eS) EA ~~ 2015 2016 2017 2018 2019 2020 2022 2023 Portfolio ROI ex IAC
Slide 29: Current MoM
3. Current MoM SEKM Q120 Q2 20 Q3 20Q4 20 Q121 Q221 Q321 Q421 Q122 Q222 Q322 Q422 Q123 Q223 Q323 Q423 Qi24 Q224 Q324 Purchase price of area in 1,650 1,267 837 1,256 1,443 1,680 1,445 2133 1,675 3,120 1,347 1,147 1,675 2,854 409 528 328 364 294 quarter Lifetime ERC of portfolios 3,036 2,944 1,791 2,5
Slide 30: Estimated Remaining Collections (ERC)
4. Estimated Remaining Collections (ERC) 15-year ERC of SEK 53.8 bn SEK bn 12.0 28% of ERC due next 24 months 9.0 60 | i 30 a a i | = = = Hees =_ = YI Y2 Y3 Y4 YS Y6 Y7 Y8 Yo Y10 Yu Y12 Y13 Y14 YIS "Northern Europe = Middle Europe ™Southern Europe _= CE Europe (SEKbn) Yi Y2 Y3 Y4 Yé Y7 Yo Y10 Yi Yi2
Slide 31: Estimated Remaining Collections (ERC)
4. Estimated Remaining Collections (ERC) ERC by Asset Class Real Estate 1% _\ Unsecured 92% ERC by Geography Northern CE Europe. Europe 4% 23% Southern Europe 29% Middle Europe 34% ERC by Investment type Forward flows 16% One-off investments 84% intrum ERC by Industry Realestate Other " 8% 2% Teleco
Slide 32: Top Joint Ventures and Associates
5. Top Joint Ventures and Associates Senior ranking debt remaining, Intrum Investment share (Senior Investment (Intrum), Cash received to date Current ERC (Intrum), Portfolio Geography SEKM excluded), % SEKM (Intrum), ‘SEKM SEKM Orange EU 4,430 35% 1,526 0 3,632 Savoy Italy 4,578 59% 5,027 818 512 P
Slide 33: Unsecured portfolio vintages
6. Unsecured portfolio vintages bes, Maa Cae ge Va aes A B C Bic Bic ,;A 5.50x <2010 5,046 13.277 1.205 287x 2.80x 2010 1.369 37 854 3,38x 2011 1.369 3.978 783 3,48x _ 2012 2.245 6.134 12m 3,27« 2.:10x 2013 1.643 4303 1.008 3,23x 2014 2.658 6.874 2163 3,ax 2015 3.077 5375 2477 2,45x 1.40x 2016 2807
Slide 34: Cost program development vs Boost baseline
7. Cost program development vs Boost baseline SEK bn RTM Q1‘23 RTM Q3 ‘24 Cost base has been subject to significant currency Cash Cost effects, inflation and M&A activities 11.8 bn + Cost savings of SEK 1.1 bn realised versus SEK External factors 0.9 bn in RTM Q2 ‘24 — SEK 0.2 bn improvement Interna
Slide 35: Cost program development vs FY 2023
7. Cost program development vs FY 2023 SEK bn RTM Q4 ‘23, RTM Q3 ‘24 Cash Cost incl M&A Effect 13.2 bn Cash Cost excl M&A Effect 12.1bn 03 0.0 H -0.9 1 1 . 1 0.2 H Cost Savings Decrease in Inflation & FX t Costin cost implied by Salary increase | aquired/disposed volume change ' businesses 1 1 Wl In
Slide 36: 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 37: Leading the way.
Leading the way. intrum