Slide 1: Presentation of Financial Results for 1H 2025
BEST GROUP PRESENTATION OF FINANCIAL RESULTS FOR 1H 2025 Gdynia, 17/09/2025
Slide 2: Agenda
AGENDA 1. BEST Group in I H 2025 2. Non-performing debt markets in the region 3. Operating and financial results of the BEST Capital Group 4. Summary
Slide 3: BEST Group in 1H 2025 – Key Information
01 BEST GROUP IN 1H 2025 KEY INFORMATION
Slide 4: Key events in the BEST Capital Group
1H 2025 AT A FINANCIAL GLANCE Key events in the BEST Capital Group ▪ Commencement of BEST's integration with Kredyt Inkaso ▪ Emission of 5.8 million shares of BEST S.A. to Kredyt Inkaso shareholders, introduction of shares to trading on the Warsaw Stock Exchange ▪ Significant increase in repayments
Slide 5: Shareholding of BEST S.A.
SHAREHOLDING OF BEST S.A. Capital share Number of votes Krzysztof Borusowski Krzysztof Borusowski 70.87% 64.00% Marek Kucner Marek Kucner 9.23% 11.41% Waterland 18.80% Waterland 15.21% Quercus (funds) 1.39% Quercus (funds) 1.12% OFE NN 0.86% OFE NN 0.69% OFE Pocztylion 0.17% OFE Pocztylion 0.14% TFI
Slide 6: Key structure of the BEST Capital Group
KEY STRUCTURE OF THE BEST CAPITAL GROUP BEST S.A. Kancelaria Radcy Prawnego BEST TFI S.A. 100% 96.15% Rybszleger Sp. k. 2.76% BEST NFIZW 97.24% 100% FINSANO S.A. BEST Capital Italy S.r.l. 100% 100% KI TFI S.A. in liquidation BEST Capital Italy 2 S.r.l. 100% Kredyt Inkasa IT Solutions 100% Sp. z o.o.
Slide 7: Merger of BEST S.A. with Kredyt Inkaso S.A.
MERGER OF BEST S.A. WITH KREDYT INKASO S.A. ✓ Takeover of fund ✓ Consent of the ✓ Extraordinary General ✓ Data migration management by TFI Office of Meeting of Shareholders 16/12/202 Competition 26/03/202 12-14/09/2025 October 2025 4 and Consumer 5 Protection One team One process One system 10/10/20
Slide 8: Non-performing debt markets in the region
02 NON-PERFORMING DEBT MARKETS IN THE REGION
Slide 9: Poland – Non-performing debt market
POLAND – NON-PERFORMING DEBT MARKET [PLN billion] GDP growth (quarterly readings YOY) Share of non-performing loans 5.40% 4.89% Growth of new loans (YOY monthly readings) 3.40% Non-performing retail and corporate loans Total non-performing loans Non-performing loans (retail) Value of the supply of c
Slide 10: Poland – Non-performing debt market: supply of claim portfolios
POLAND – NON-PERFORMING DEBT MARKET Supply of claim portfolios ▪ Maintaining a high level of supply of bank portfolios, close to 1H (primary market) in PLN billion 2024 values. ▪ Demand and portfolio prices remaining high 14.0 14,0 0,500 ▪ Maintaining good quality of portfolios sold 12.0 12,0 12,1 1
Slide 11: Italy, Romania, Bulgaria – Non-performing debt market
ITALY, ROMANIA, BULGARIA – NON-PERFORMING DEBT MARKET ITALY ROMANIA BULGARIA ▪ The NPL market in Italy is well ▪ Sustainable supply of claim portfolios ▪ NPL market dominated by unsecured retail developed, with a large number of portfolios transactions ▪ Diversified portfolios on offer ▪ Stable supp
Slide 12: BEST's investments in claim portfolios
BEST’S INVESTMENTS IN CLAIM PORTFOLIOS 350 30% 300 148 26% 25% 276 25% 152 22% 22% 250 174 20% 200 15% 15% 150 13% 11% 11% 85 10% 100 9% 148 205 173 149 6% 50 24 5% 85 57 46 18 35 0 0% 2016 2017 2018 2019 2020 2021 2022 2023 2024 1H 1H2025 2025 1H- -acquisition 1H acquisitioncost cost (PLN (PLN mill
Slide 13: Operating and financial results of BEST Capital Group
03 OPERATING AND FINANCIAL RESULTS OF BEST CAPITAL GROUP
Slide 14: Merger with Kredyt Inkaso – settlement of transactions
MERGER WITH KREDYT INKASO – SETTLEMENT OF TRANSACTIONS (THOUSAND PLN) ▪ Acquired claims 680,582 ▪ Interest liabilities 426,655 ▪ Cash 22,719 ▪ Other obligations and liabilities 59,779 ▪ Other assets 29,565 ▪ Acquired minority interest 232 ▪ Fair value of acquired assets 732,866 ▪ Fair value of acqui
Slide 15: First half of 2025 at a financial glance
FIRST HALF OF 2025 AT A FINANCIAL GLANCE Claims repayments Operating revenue Cash EBITDA Net profit attributable to (PLN million) (PLN million) (PLN million) BEST shareholders 400 351 300 300 300 (PLN million) 300 245 194 236 200 200 200 201 181 42 200 284 129 28 118 29 100 100 100 100 218 27 33 142
Slide 16: Operating efficiency
OPERATING EFFICIENCY Operating expenses Operating profit Equity capital Net debt (PLN million) (PLN million) (PLN million) (PLN million) 200 200 1250 1250 1 204 1 074 2,00 165 100% 1000 898 1000 1,50 39 80% 110 114 750 742 750 622 100 24 100 60% 750 1,12 29 80 49% 48% 1,00 69 67 500 41% 40% 500 0,83
Slide 17: Asset structure
ASSET STRUCTURE ERC – nominal value of estimated future repayments Carrying value of portfolios (PLN million) (PLN million) 6 000 6 000 4 000 4 000 5 331 2 000 2 000 3 027 3 523 2 366 1 342 1 590 0 0 31/12/2023 31/12/2024 30/06/2025 31/12/2023 31/12/2024 30/06/2025 5% 2% 6% 14% Poland Poland Italy 2
Slide 18: Group's equity and liabilities
GROUP’S EQUITY AND LIABILITIES Equity (million PLN) Net debt (million PLN) 1250 1 074 1250 1 204 3,00 100% 1000 898 1000 2,50 750 80% 742 750 689 2,00 60% 750 622 51% 1,50 500 49% 48% 500 411 41% 40% 1,12 1,00 0,83 0,83 250 20% 250 0,60 0,50 0 0% 0 0,00 31/12/2022 31/12/2023 31/12/2024 30/06/2025 31
Slide 19: BEST Group on the bond market
BEST GROUP ON THE BOND MARKET Historic bond issues (PLN million) Current bond repayment schedule (PLN million) 2023 2024 2025 2026 2027 2028 2029 2030 53 30 18 108 102 41 65 83 50 50 11 15 20 21 -20 -3 -3 -11 -1 -1 -10 -1 -16 -48 -4 -10 -10 -11 -22 -19 -30 -42 -73 -50 -56 -60 -69 -65 -94 -105 -111 I
Slide 20: Operating expenses
OPERATING EXPENSES Cost-to-collect (%) Segmentation of operating expenses 70% in 1H 2025 (PLN million) 60% 6 4 50% 43% labour costs 40% 50 70 third-party 30% services taxes and 20% charges 1Q 2023 2Q 2023 Q3 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 34 BEST BEST Kredyt Inkaso Kred
Slide 21: Poland – Operating and financial results
POLAND – OPERATING AND FINANCIAL RESULTS PLN THOUSAND 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 ▪ Portfolio purchases 10,841 80,958 9,800 79,745 4,788 146,687 ▪ Carrying value of portfolios 1,168,005 1,219,344 1,217,722 1,297,285 1,269,736 1,865,951 ▪ Repayments 103,778 112,821 104,616 99,955
Slide 22: Italy – Operating and financial results
ITALY – OPERATING AND FINANCIAL RESULTS PLN THOUSAND 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 ▪ Portfolio purchases (42,158 43,745 40,477 13,200 35,095 18,027 ▪ Carrying value of portfolios 196,957 238,310 282,208 292,715 324,240 322,678 ▪ Repayments 8,244 11,135 11,071 13,512 12,198 14,690 ▪
Slide 23: Romania – Operating and financial results
ROMANIA – OPERATING AND FINANCIAL RESULTS PLN THOUSAND 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 ▪ Portfolio purchases - 5,088 6,194 40,685 - - ▪ Carrying value of portfolios 117,034 115,366 115,902 150,687 144,040 136,232 ▪ Repayments 15,012 16,270 14,909 16,508 17,427 19,015 ▪ Operating reve
Slide 24: Bulgaria – Operating and financial results
BULGARIA – OPERATING AND FINANCIAL RESULTS PLN THOUSAND 10,2024 2Q 2024 3Q 2024 4Q 2024 10,2025 20,2025 ▪ Portfolio purchases 1,445 - - - - - ▪ Carrying value of portfolios 45,832 43,888 44,723 42,307 41,410 41,272 ▪ Repayments 5,766 5,802 5,917 6,603 6,091 6,035 ▪ Operating revenues 17,907 3,742 7,
Slide 25: Summary
| 04 SUMMARY
Slide 26: BEST Capital Group summary
BEST CAPITAL GROUP SUMMARY Building an international Increase in scale Investments in technology organisation Presentation of results for 1H 2025 26/31
Slide 27: Thank you for your attention
\ THANK YOU FOR YOUR ATTENTION SPOLKA AKCYJNA
Slide 28: Attachments
ATTACHMENTS
Slide 29: Cash EBITDA
CASH EBITDA (PLN million) 2Q 2025 2Q 2024 YOY change 1H 2025 1H 2024 YOY change BEST claim repayments 231.9 124.0 87% 350.8 236.0 49% other revenue 0.8 1.1 (31%) 1.3 2.2 (42%) OPEX (excluding depreciation and amortisation) (100.3) (57.0) 76% (158.3) (109.4) 45% Cash EBITDA* 132.4 68.1 94% 193.8 128.
Slide 30: Statement of financial position
STATEMENT OF FINANCIAL POSITION (PLN million) 30/06/2025 31/12/2024 31/12/2023 31/12/2022 assets, including: 2,615.8 1,856.8 1,545.1 1 349.3 cash and equivalent 117.4 82.4 648 52.2 purchased claims 2,366.1 1,590.0 1,342.4 1 183.2 equity investments - 82.5 39.9 27.6 investment properties 52.3 41.7 40
Slide 31: Financial performance
FINANCIAL PERFORMANCE (PLN million) 1H 2025 1H 2024 YOY change operating revenues, including: 245.0 181.3 35% revenue from claims acquired: 243.7 179.1 36% interest calculated using the effective interest rate method 217.7 152.1 43% deviations from actual payments 42.2 28.0 51% profit/loss from reva