Best S.a. · GPW:BST

Best — H1 2022 Earnings Presentation

21 slides from Best's earnings presentation, Sep 7, 2022

1. Slide 1: Presentation of Financial Results for H1 2022

   BEST GROUP PRESENTATION OF FINANCIAL RESULTS FOR H1 2022 Gdynia, 7 September 2022

2. Slide 2: Summary of H1 2022

   BEST GROUP Summary of H1 2022 Key events in BEST Capital Group (BEST CG) in H1 2022 ▪ increasing repayments under claim portfolios, significant overruns of expected recoveries ▪ purchase of claim portfolios with a nominal value of PLN 167.5 million for PLN 46.3 million ▪ significant revaluation of c

3. Slide 3: Non-performing claim market in Poland

   BEST GROUP NON-PERFORMING CLAIM MARKET IN POLAND BEST CG | presentation of financial results for H1 2022 3

4. Slide 4: Poland – non-performing claim market: bank NPL supply

   BEST GROUP Poland – non-performing claim market Bank NPL – supply of claim portfolios (retail and mortgage-backed portfolios, primary market) 14,0 0,300 12,0 26% 0,250 Market situation in H1 2022: 2,7 10,0 1,6 2,1 0,200 ▪ supply of bank claim portfolios comparable to the supply 0,4 8,0 17% of the co

5. Slide 5: Poland – non-performing claim market

   BEST GROUP Poland – non-performing claim market [PLN billion] Share of non-performing loans GDP dynamics (quarterly figures YOY) Credit dynamics (monthly figures YOY) Non-performing retail and corporate loans Total non-performing loans Change of NBP’s calculation method (as of January 2018) Non-perf

6. Slide 6: Discussion of the Financial Results for H1 2022

   BEST GROUP DISCUSSION OF THE FINANCIAL RESULTS FOR H1 2022 BEST CG | presentation of financial results for H1 2022 6

7. Slide 7: Increase in claim repayment and financial performance

   BEST GROUP Increase in claim repayment and financial performance Claim repayment Operating revenues Cash EBITDA* Net profit attributable to (PLN million) (PLN million) (PLN million) BEST’s shareholders 300 300 284 150 150 (PLN million) 250 218 250 209 200 183 200 173 100 100 150 150 133 284 135 100

8. Slide 8: Strong balance sheet structure, low debt

   BEST GROUP Strong balance sheet structure, low debt Operating expenses Operating profit Equity Net debt (PLN million) (PLN million) (PLN million) (PLN million) 150 200 750 672 750 2,00 100% 107 104 549 150 505 80% 1,50 100 82 10 500 500 438 34 395 388 36 100 60% 1,00 31 181 52% 45% 47% 0,87 50 250 4

9. Slide 9: Positive revaluation of portfolios due to repayments higher than forecasted

   BEST GROUP Positive revaluation of portfolios due to repayments higher than forecasted Operating revenues by market (PLN million) 300 284,4 250 200 173,2 150 132,6 274,0 ▪ 64% increase in revenues in H1 2022 100 132,8 164,6 ▪ increase in revenues from the Italian market 50 8,6 10,5 0 -0.2 H1 2020 H1

10. Slide 10: Increase in personnel costs, stabilisation of enforcement and court costs

    BEST GROUP Increase in personnel costs, stabilisation of enforcement and court costs Operating expenses (PLN million)* 120 80 20% 103,8 97,2 17,0% 100 4,5 16,7% 82,0 4,2 60 15,8% 15% 80 39,8 4,0 40,2 60 34,3 40 10% 18,8 40 17,4 13,3 20 5% 30,5 35,7 34,3 20 33,8 38,9 28,3 0 0 0% H1 2020 H1 2021 H1 20

11. Slide 11: Financial results

    BEST GROUP Financial results (PLN million) H1 2022 H1 2021 change YOY operating revenues, including: 284.4 173.2 64% revenue from claims acquired 284.4 164.0 73% interest calculated using the effective interest rate method 124.7 119.5 4% deviations from actual payments 46.4 43.5 7% revaluation resul

12. Slide 12: Increasing selective purchases of claim portfolios

    BEST GROUP Increasing selective purchases of claim portfolios Investments in claim portfolios (PLN million) 350 30% 301 28% 300 25% 258 22% 250 20% 200 157 15% 150 85 13% 11% 11% 10% 81 10% 100 9% 6% 46 5% 50 31 10 0 0% 2015 2016 2017 2018 2019 2020 2021 H1 2022 Acquisition cost (PLN million) Acquis

13. Slide 13: Claim portfolios are the biggest item of assets

    BEST GROUP Claim portfolios are the biggest item of assets carrying value of portfolios Nominal estimated remaining repayments (ERC) (PLN (PLN million) million) 3 000 1 250 1 017 1 131 2 469 938 2 500 2 175 2 291 1 000 2 000 750 1 500 500 949 1 047 1 000 1 961 2 099 2 260 864 250 500 0 0 31.12.2020

14. Slide 14: Strong balance sheet, strong potential for further investment in claim portfolios

    BEST GROUP Strong balance sheet, strong potential for further investment in claim portfolios equity (PLN million) net debt (PLN million) 672 3,00 100% 600,0 549 572 2,50 505 600,0 472 80% 438 395 2,00 388 400,0 60% 400,0 1,50 47% 52% 45% 40% 1,21 38% 1,00 200,0 200,0 0,87 0,72 20% 0,58 0,50 0,0 0% 0

15. Slide 15: Long-standing participant in the bond market

    BEST GROUP BEST is a long-standing participant in the bond market Historic issue and redemption of bonds (PLN million) Current bond repayment plan (PLN million) 2016 34 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 20 5 90 60 56 40 50 50 30 10 10 20 11 10 11 15 10 20 10 20 10 11 10 11 35 30 45 6

16. Slide 16: Summary

    BEST GROUP SUMMARY HIGH REVENUES GOOD HIGH REPAYMENTS OF CLAIMS AND PROFITS FINANCIAL EDUCATION LOW DEBT LEVEL, FURTHER IMPROVEMENT PUBLIC ISSUE OF BONDS AS SIGNIFICANT POTENTIAL FOR OF EFFECTIVENESS OF ONE OF THE PREFERRED GROWTH IN SCALE OF OPERATIONS SOURCES OF FINANCING OPERATIONS BEST CG | pres

17. Slide 17: Thank you

    Thank you Dziękujemy Media contact: BEST S.A. MakMedia Group ul. Łużycka 8A Błażej Dowgielski 81-537 Gdynia e-mail: b.dowgielski@makmedia.pl tel. 58 769 92 99 tel. +48 692 823 744 fax 58 769 92 26 Michał Makarczyk best@best.com.pl e-mail: m.makarczyk@makmedia.pl www.best.com.pl tel. +48 602 280 858

18. Slide 18: Annexes

    BEST GROUP ANNEXES BEST CG | presentation of financial results for H1 2022 18

19. Slide 19: Annex – cash EBITDA

    BEST GROUP Annex – cash EBITDA (PLN million) 2Q 2022 2Q 2021 change YOY H1 2022 H1 2021 change YOY BEST repayment of claims 113.7 111.6 2% 217.7 209.4 9% other revenues 0.7 0.3 >100% 0.9 0.5 73% OPEX (excluding amortisation/depreciation) (51.9) (49.7) 5% (99.3) (92.9) 7% Cash EBITDA 62.5 62.3 0% 119

20. Slide 20: Annex – statement of financial position

    BEST GROUP Annex – statement of financial position (PLN million) 30.06.2022 31.12.2021 31.12.2020 assets, including: 1,290.5 1,173.6 1,134.9 cash and cash equivalents 54.6 47.3 65.6 claims acquired 1,130.7 1,017.1 938.4 investments in associates - - 51.4 capital investments 17.3 21.9 - investment re

21. Slide 21: Annex – structure of BEST CG

    BEST GROUP Annex – structure of BEST CG Shareholding of BEST SA* BEST S.A. (share in the Issuer's share capital as of 30.06.2022) Kancelaria Radcy Prawnego BEST TFI SA 100% 96% Rybszleger Sp.K. BEST Capital FIZAN 100% 100% BEST Italia S.r.l. 4,5% 13.3% Others Marek 100% BEST I NSFIZ 51% BEST Capital

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