Slide 1: Interim Report April — June 2023
Interim Report April — June 2023 20 July 2023 Andrés Rubio, President and CEO Michael Ladurner, CFO intrum
Slide 2: Today's presenters
Today’s presenters Andrés Rubio Michael Ladurner President and Chief Financial Officer Chief Executive Officer intrum
Slide 3: Second quarter 2023 highlights
Second quarter 2023 highlights Progress on strategic initiatives * Market exits in Baltics, Romania and Brazil * Successful M&A in UK and Spain + Investigating potential sale of operations in Czech Repu Slovakia and Hungary * Cost savings program upgraded to SEK >0.8 bn Seasonally stronger Q2 in a t
Slide 4: Our priorities going forward
Our priorities going forward are to: (i) grow servicing cashflows and (ii) reduce leverage Growing servicing cashflows Reducing debt + In Servicing, we stand to significantly benefit from: + Weare pursuing selected, targeted measures to directly i. | management changes & increased commercial focus r
Slide 5: European companies spend more than the GDP of Finland to collect late payments
European companies spend more than the GDP of Finland to collect late payments EUR 275 bn implied cost to collect late payments by businesses in Europe* 5.5% inflation in the Euro area as of June - 3.1% compared to June 2022 70% of businesses encounter credit losses + 10% compared to April 2022 73%
Slide 6: Servicing: focus on commercial activities
Servicing: focus on commercial activities A positive trend in Servicing Annual Contract Value sales and AuM SEKM SEK bn 300 2200 250 200 150 1900 : 100 * ACV sales increased 16% and 50 AuM increased 9% vs. Q2 ‘22 ) 1600 * Strong and steady revenues Q2 @ a4 al Q2 @ a4 a @2 . . 2021 2022 2023 increase
Slide 7: Investing: resilient performance and growing cash collections
Investing: resilient performance and growing cash collections throughout the pandemic and the current inflationary environment Investing performance vs. active forecast (%) & gross cash collections 116% 115% 103% 92% * Collection performance of 103% vs. active forecast and 110% vs. original underwri
Slide 8: In supporting its clients and customers
In supporting its clients and customers Intrum helps society at large ease Sustainalytics ESG Risk Rating 2023 Helped 4.6 M individuals to ustainalyti enanng -—-@ become debt free with Intrum intrum (ELTA e308" |Top rare last 12 months Medium High Severe ° 20-30 30-40 0- Achieved 4.3 / 5.0 customer
Slide 9: Intrum's journey towards simplification and selective growth
Intrum’s journey towards simplification and selective growth Going forward As aresults-driven services company in the financial and credit sector, we will increase our contribution and importance to the financial ecosystem We have defined three strategic priorities to realise our vision: * Commercia
Slide 10: Significant progress towards our priorities laid out in early 2023
Significant progress towards our priorities laid out in early 2023 Progress on key themes SZ Strengthened Intrum’s position in UK & Spain as part of Grow and Transform VY Exited Baltics, Romania and Brazil as part of Simply and Focus VY Empowered local teams and re-established performance accountabi
Slide 11: Financials
Slide 12: Group key financials
Group key financials: seasonally stronger second quarter in a transition year SEK M Q22023 _Q22022_ Change% _RTM FY 2022 Cash EBITDA Cash revenues 6,414 6,266 2 24,884 24,627 —RT™ (Margin) Cash EBITDA 3,236 3,408 5 12,758 13,238 3408 3236 Cash EBITDA margin, % 50 54 -4 ppt 51 54 Cash EBIT 1,638 1,59
Slide 13: Above and beyond our initial cost program targets
Above and beyond our initial cost program targets Initial assumption Updated cost program + SEK 0.6 bn cost program to be launched immediately + 0.75 - 1.25x in execution costs to be incurred as IACs in 2023 + Full benefit to be achieved on run-rate basis by end of 2023 Right sizing in context of re
Slide 14: Credit Management Services
Credit Management Services: significant organic revenues growth SEKM Q2 2023 Q2 2022 a % FY 2022 Cash EBITDA Cash revenues 1,253 1,019 rn sae 4,264 —RT™M (Margin) Cash EBITDA 357 348 3 1,318 1,364 429 Cash EBITDA margin, % 28 34 -6ppt 28 32 (42%) Revenues adj. 1,805 1,579 14 6,777 6,428 External rev
Slide 15: Strategic Markets
Strategic Markets: continued performance at a high level of profitability Cash EBITDA Cash revenues 1,487 1,557 A om 6,172 — RTM (Margin) Cash EBITDA 777 851 3 3,284 3,497 Cash EBITDA margin, % 52 55 -3 ppt 55 57 3284 Revenues adj. 1,654 1,683 -2 6,560 6,660 851 77 External revenue adj. 1,487 1,557
Slide 16: Portfolio Investments
Portfolio Investments: stable growth and improving collection performance Cash EBITDA Cash revenues 3,674 3,690 14,247 14,191 — RTM (Margin) eer eat Cash EBITDA 2,779 2,816 + 10,841 10,790 Cash EBITDA margin, % 76 76 Oppt 76 76 a rr. s 2779 Replenishment capex -1,540 -1,751 12 -6,242 -6,550 (76%) Ca
Slide 17: Funding: FX development weighs on leverage
Funding: FX development weighs on leverage Underwriting returns vs. funding cost 16,0% ed * Return gap of 3.1x with higher IRRs on new 120% investments, outpacing increasing cost of funds * Termed out liability structure with principal 8,0% aom _ Sostoffunds maturities between 2025 and 2027 * Intere
Slide 18: Final Remarks
Slide 19: Q&A
Q&A intrum
Slide 20: Appendix
intrum x
Slide 21: Table of Contents
Table of Contents 1. Outstanding interest rate bearing debt 2. Pro forma portfolio investments and ROI 3. Current MoM for replenishment capex calculation 4. Estimated Remaining Collections (ERC) and collection performance 5. Portf joint ventures 6. Unsecured portfolio vintages 7. Medium-term financi
Slide 22: Outstanding interest rate bearing debt
1. Outstanding interest rate bearing debt Currency eS amen in Coupon rate Maturity date a acid ISIN SEK 2900 2,900" 6.60% 7/3/2023 Quarterly 7/3/2023 SE0011426295 EUR 469 5537 3.13% 7/5/2024 Biannually —«-7/17/2023-~=—=—«XS1634532748 SEK 1,500 1500 6.60% 10/1/2024 Quarterly 7/3/2023 SEOO13102407 EUR
Slide 23: Pro forma portfolio investments and ROI
2. Pro forma portfolio investments and ROI SEK m 12000 11854 175% 175% 157% 147% 8.106 7,538 9.000 air 159 7,324 11.8% 2683 6000 3780 5,012 1258 1633 7857 4n0 3000 831 3141 o783 4679 1436 i / 2018 2016 2017 2018 2019 2020 2021 2022 2023 Portfolio ROI ex IAC and revaluations RTM Portfolio ROI ex JV,
Slide 24: Current MoM for replenishment capex calculation
3. Current MoM for replenishment capex calculation SEKM Q418 Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q420 QI21 Q221 Q321 Q421 QI22 222 Q322 Q422 QI23 223 Purchase price of portfolios acquired in 2,538 1,277 ‘1,436 831.«« 3.780 1650 1,267 837 1,256 1,443 «1,680 1,445 21331675 3,120 1,347,147 1,675,854 qua
Slide 25: Estimated Remaining Collections (ERC) and collections performance
4. Estimated Remaining Collections (ERC) and collections performance SEK bn 10 * 180m ERC at SEK 86.1 bn ‘I Y2 YB Ya YS Y6 7 8 yo YIO YN YI2 YB Ya VIS ERC * Collections during the second Portfolio Investment collections vs. active forecast quarter at 103% of active forecast 120% 15% RTM collections
Slide 26: Estimated Remaining Collections (ERC)
4. Estimated Remaining Collections (ERC) 15-year ERC of SEK 86.1 bn SEK bn 12.0 29% of ERC due next 24 months . [| | ° L a 20 | = = U U U i Eanes a |_| |_| = = = I Yi Y2 Y3 Y4 YS Y6 Y7 Y8 Yo Y10 Yu Y12 Y13 YI4 YIS mStrategic Markets. = Other markets mNordics. " DACH & UK ribution (SEKbn) 1 Y2 Y3 Y4
Slide 27: Estimated Remaining Collections (ERC)
4. Estimated Remaining Collections (ERC) ERC by Asset Class Real Estate 1% __\ Secured 7% Unsecured 92% ERC by Investment Type Forward flows 18% One-off investments 85% intrum ERC by Geography Other markets Nordics : za | Markets 27% DACH & UK 25% ERC by Industry Realestate Other y 6% Telecom 2% 6%
Slide 28: Portfolio joint ventures
5. Portfolio joint ventures Invectmentchare Investment Cash received to CurrentERC Current book value Portfolio Geography (Intrum), % (Intrum), date (Intrum), (Intrum), (Intrum), SEK M SEK M SEK M SEK M Savoy Italy 59 5,027 758 532 258 Portland Italy 29 234 24 M6 242 Cierzo Spain 40 230 0 264 103 Wi
Slide 29: Unsecured portfolio vintages
6. Unsecured portfolio vintages PeietoeK MES ae Constant curre: tage evolution for unsecured books 70,462 Gross money-on-money multiple: Gross money-on-money multiple means the actual gross collections to date, plus ERC as of the same date divided by the total amount paid for the portfolio at the da
Slide 30: Medium-term financial targets
7. Medium-term financial targets: Progress since CMD in November 2020 Cash RolC (RTM) Recurring consolidated cash EPS (RTM) Leverage (RTM) intrum 89% 89% 90% 88% 84% gr% 81% 82% 84% 9.0% til | | | | | | | | I QI 20 Q2 20 Q3 20Q4 20 QI 21 Q221 Q3 21 Q4 21 QI 22 Q2 22 Q3 22 Q4 22 QI 23 Q223 CAGR 313 5
Slide 31: Upcoming IR activities
8. Upcoming IR activities Q2'23 Online roadshow * Organised by Carnegie and Citi -10n1's and group meetings * 20 July 2023 - Carnegie * 21 July 2023 - Citi Financial calendar * 25 October 2023 Interim report for the third quarter + 25 January 2024 Interim report for the fourth quarter intrum Additio
Slide 32: 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 33: Leading the way to a sound economy
Leading the way to a sound economy. intrum