International Money Express, Inc. · NASDAQ:IMXI
International Money Express — SPAC Merger (March 2018)
36 slides from International Money Express's SPAC merger presentation, Mar 26, 2018
Slide 1: International Money Express Investor Presentation
intermex International Money Express Investor Presentation March 2018 Le...
Slide 2: Forward-looking statements
1 CONFIDENTIAL | This Investor Presentation contains “forward - looking statements” within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward - looking statements may be identified by the use of words such as "anticipate", "believe", “could”,
Slide 3: Transaction Overview
Transaction Overview inTech Acquisition Corp. Il ("NTE"), a publicly-traded Special- Purpose Acquisition Company 'SPAC) will merge with Intermex Holdings Il, Inc, (dba "Intermex") TRANSACTION + Merged company will apply to continue the listing of its common stock on the NASDAQ + Transaction is expec
Slide 4: Capitalization & Ownership
6 inmilions) Capitalization & Ownership™ Proposed Sources Pro Forma Capitalization at Closing Rollover Equity $1660 Cash $1224 FinTech Acquisition Corp Equi 1762" Revolving Credit Facility 200 Total Sources $342.2 Term Loan oa Total Debt sig Proposed Uses Implied Market Ca $3574 Stock Consideration
Slide 5: Table of Contents
Table of Contents Il. Executive Summary Il. Investment Highlights Ill. Financial Highlights IV. Appendix
Slide 6: I. Executive Summary
I. Executive Summary
Slide 7: Intermex Overview
Intermex Overview “| + Intermex utilizes its technology enabled platform to deliver differentiated financial services to consumers. It is a leading provider of money transfer services in the large and growing US. to Latin America and Caribbean ("LAC") $215.4M 2017 corridor, which represents $74+ bil
Slide 8: Global Remittance Market
Global Remittance Market Worldwide, an estimated US$574B was sent in 2016, US$138.2B from the U.S. alone Worldwide Market Landscape Regional Share of Global Inflow Remittances ©) + More than 247 million people live outside ae their countries of birth Es + According to available official data, the Me
Slide 9: Large Industry with Accelerating Growth
Large Industry with Accelerating Growth The LAC remittance market is supported by four key growth drivers Strong Remittance Volume Growth in Intermex’s Core Markets ‘otal Remittance Volume, $i bilions) 2005-2016 Al Other om ‘= Guatemala a ies $704 $754 $589 gse7 $500 $66 «($622 $63.6 facia goos| |sa
Slide 10: Favorable, Fragmented Competitive Landscape
Favorable, Fragmented Competitive Landscape Intermex enjoys a strong and growing position across key target markets Intermex Share of Key Target LAC Market Landscape LAC Countries - 2016 Markets @ Mexico Market Share Breakdown 2017-2014 County. (ussey bias 18% 19% MEX 264 36% 16% 18% GUA 72 10% 15%
Slide 11: Peer Analysis
Peer Analysis 2016 - 2018P CAGR 2017 - 2019P CAGR TEV /2018P Adj. EBITDA “ 1 ' 1 ! 1 1 yam ot 178% —_ 1 1 1508 1 pox! 4% 1 ' i 1 sx ! 1 1 1 1 ' 1 1 ' no 1 ' ee | 1 1 ' 1 1 1 1 116% 7% 1 : sox | ' ' ‘ sx! ' 1 1 fl 1 23% 1 1 28% 1 1 i 1 _ oul 1 L 1 1 1 1 - a t T 1 t 1 tem ont Menem meme: ete one Moneg
Slide 12: Intermex — Evolution of a Market Leader
Intermex — Evolution of a Market Leader History of sustained market share growth provides a strong platform for future growth iamilions) 2009-2012 2012-2015 2015 — 2019P S| __Revenuecacr: 3% [°° | _Revenuecacr:2i% | °° | _Revenuecacr:23% | © war 3813 $2154 $1654 s1e4a 983 sss7s79.ss=—igwtg:—= SOG SR
Slide 13: II. Investment Highlights
Il. Investment Highlights
Slide 14: Highly Compelling Investment Opportunity
Highly Compelling Investment Opportunity intermex % CONFIDENTIAL | 13
Slide 15: Future Growth / Total Addressable Market
Future Growth / Total Addressable Market Numerous Highly Attractive Growth Opportunities Intermex is well-positioned to execute on its growth strategies intermex Grow Mobile and Online Presence 'B2B Processing International Money Express ‘Opportunity caer OD ipand Product] | + We can leverage ‘money
Slide 16: Intermex Employs a Highly Differentiated Approach
Intermex Employs a Highly Differentiated Approach @) /in iter rmex Approach \, il iol MEHEY Approeeh -\ \ + Focus on the most profitable corridors, market share growth and efficiency Send Corridors [+ Grow revenue by entering new send corridors | * Focus on growing agent base + Focus on productive a
Slide 17: Intermex Grows in Excess of the Industry
Intermex Grows in Excess of the Industry ® Mexico Remittance Volume (60%) Guatemala Remittance Volume (? (22%) 54% 5.9% 66% TAK 95% 11.9% 15.4% 9.0% 101% 11.1% 12.6% 13.9% 17.0% 19.6% 39.2% 1.5% 224% 22.4% alee 13.4% 139% 14.4% 70% 64% 54% 92% — G4, 90% 2011 2012 2013-2014 201520162017 2011 2012 201
Slide 18: Intermex Grows in Excess of the Industry (cont'd)
Intermex Grows in Excess of the Industry (cont'd) ® Intermex sustains strong margins while increasing transaction growth to Mexico Margin Expansion (Mexico) 2014 2015, 2016 2017 IMMGross Margin per Transactions =@=Intermex Growth =®=Industry Growth + In 2017 Intermex maintained its margins while the
Slide 19: Intermex Grows in Excess of the Industry (cont'd)
Intermex Grows in Excess of the Industry (cont'd) @ Intermex has grown its market share while focusing on larger send states such as California and New York Estimated Market Share within Intermex’s Core Markets (% of Remittance Volume) 2017 2017 No Presence eae 06-49% 5H-999% —OHT499% —15%-1999% 20%
Slide 20: Systematic and Efficient Sales Strategy and Execution
Systematic and Efficient Sales Strategy and Execution @) Prioritizing agent productivity and consistently growing wires per agent + Intermex has a unique approach to developing and snaitalang lease Highly Productive Agent Network ‘Teansacions ia ilions) + Focuses on onboarding the right agents in th
Slide 21: Systematic and Efficient Sales Strategy and Execution (cont'd)
Systematic and Efficient Sales Strategy and Execution (cont’d) Intermex’'s unique differentiation in agent recruitment Intermex focuses on recruiting productive agents with high growth potential in targeted opportunity areas This metric-based strategy results in more total revenue from fewer agents
Slide 22: Deepen Customer Relationships
Deepen Customer Relationships © Leverage industry-leading loyalty program to drive preference for Intermex Program Overview Impact to Business + Interpuntos was piloted beginning in October 2014 + Through program analysis we have observed: and is currently ive in. 1:states (=2)800-agents) + Members
Slide 23: Highly Scalable and Industry-Leading Technology Platform
Highly Scalable and Industry-Leading Technology Platform ©) Proprietary software and world-class technology + Intermex has invested in technology over the past four years to enhance the customer experience + Proprietary software and infrastructure uptime performance enable business agility and marke
Slide 24: Highly Scalable and Industry-Leading Technology Platform
Highly Scalable and Industry-Leading Technology Platform © Speed of POS Transactions ctions completed in half the time of most competitors Systems Uptime and Reliability 1% historical uptime SLA with 3-datacenter balancing and auto failover Technical Support Response Time intermex minutes Processing
Slide 25: Superior Compliance Culture
Superior Compliance Culture ‘3 Intermex maintains a highly comprehensive, rigorous compliance process + Conduct all compliance checks through the extensive Key Milestones in the Process compliance module which is par of our proprietary POS , system RA "know Your custome” due agence ers (ER “Anti-Mon
Slide 26: Strong and Accelerating Financial Performance
Strong and Accelerating Financial Performance Intermex has a highly attractive financial profile with strong momentum + Intermex's highly differentiated approach, along with its unique and efficient platform, has allowed the ‘Company to significantly grow scale and profitability + Strong top-line an
Slide 27: Experienced and Proven Management Team
Experienced and Proven Management Team ‘3S Results-driven management team with 110+ years of combined industry experience + Execution focused management with deep industry experience and operational expertise that has successfully increased scale, expanded the ecosystem and driven growth + Maintain
Slide 28: III. Financial Highlights
Ill. Financial Highlights
Slide 29: Summary Financials
Summary Financials 6 inmilions) 2014 2015 2016 2017 2018P 2019P Revenue Money Transfer Service Fees $042 $1055 $1385 sisi7 s2139 $2455, Foreign Exchange Income BA 176 258 325 312 342 Other Income 10 u 14 13 16 16 Total Revenue $98.3 $1242 $165.4 $215.5 $2467 $2813 YoY Growth % 188% 26.3% 33.2% 30.3%
Slide 30: Per Transaction and Agent Detail
Per Transaction and Agent Detail + Revenue and EBITDA per \ ecemiahidiamiad transaction has increased s1089 s1099 sua from 2014 to present (ME Transactions mmm Revenue / Wire!) Adj, EBITDA / Wire ® + Average agent productivity —~sayens nuns $i dwen) has increased in the $4751 $4821 historical period
Slide 31: Balance Sheet
Balance Sheet Binmillons) December 31 December 31 2016 2017 Assets Cash $376 $59.2 Accounts Receivable, Net 312 554 Prepaid Wires 163 "7 Other Prepaid Expenses & Current eae os 09 Total Current Assets $85.5 $1274 Property & Equipment, Net $62 $85 Goodwill 00 363 Intangible Assets, Net 63 487 Deferre
Slide 32: Statement of Cash Flows
Statement of Cash Flows Gin milions) Cash Flows from Operating Activities: ‘Net Income / (Loss) Depreciation & Amortization Share-based Compensation Provision for Bad Debts Debt Isuance Cost Amortization Deferred Taxes: Loss on Disposals of Property & Equipment Changes in Assets and Labiltes ‘Accoun
Slide 33: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation 6 inmitions) 2014 2015 2016 2017 ‘Net Income: $26.1 $58 $94 ($13.5) Interest, Net a7 42 95 121 Taxes © (202) a2 an an Depreciation & Amortization 43 2s 28 170 EBITDA, As Reported $11.9 $16.6 $25.6 $13.9 ‘% Margin, As Reported 12.1% 134% 15.5% 65% Adjustments Transactio
Slide 34: IV. Appendix
Iv. Appendix
Slide 35: Systematic and Efficient Sales Strategy and Execution (cont'd)
Systematic and Efficient Sales Strategy and Execution (cont'd) Agent Production vs Agent Count © Intermex Agent Base 32% 705 Ej a0 aoe aos aoe IW Sep-178 (598) (mmm Annual Agent Count Variance Transactions Growth + In 2009 Intermex started terminating unproductive agents while adopting a new approac
Slide 36: From Irma to Earthquake - Testing Resilience
From Irma to Earthquake - Testing Resilience Hurricane Irma Intermex deployed its Business Continuity Plan (BCP) 3 days before the event Mexico and Guatemala subsidiaries supported key stakeholders in Miami + Equipment supplied to key personnel (ie. satelite phones, hotspots and backup laptops) allo
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