Slide 1: Interim Report October — December 2023
Interim Report October — December 2023 25 January 2024 Andrés Rubio, President and CEO Anders Blomavist, Interim CFO Emil Folkesson, CFO Office and Investor Relations Director intrum
Slide 2: Today's presenters
Today’s presenters Andrés Rubio Anders Blomqvist Emil Folkesson President and Interim Chief Financial CFO Office and Investor Chief Executive Officer Officer Relations Director intrum
Slide 3: Fourth quarter 2023 highlights
Fourth quarter 2023 highlights Progress on strategi ives Strong Q4 to end 2023 in our transitory year * Record ACV signings and significant increase in ACV net | * Adj. Income growth of 8%, driven by M&A of churn * Cash EBITDA and adj. EBIT in line with exceptional * Achieved savings of SEK ~800 Mon
Slide 4: Expect increasing credit defaults in the near term
Expect increasing credit defaults in the near term EUR 1 trillion estimated in SMEs support program during Covid-19 across Europe 10% of the total support program at risk of default! payment holidays ended ° 56% of UK consumers spent their monthly income by 20¢ January and many expects to utilise br
Slide 5: Servicing: much to be optimistic about going into 2024
SEK bn Servicing: much to be optimistic about going into 2024 Full year ACV signings and ACV net of churn Growth in ACV net of churn vs. 2022 1.41 136 189% 0.90 0.62 _ ~ _ 2021 2022 2023 mTotal ACV = ACV net of churn ACV sales and total assets under management mmm ACV sales (LHS) ——Total AuM (RHS) B
Slide 6: Servicing: continued increasing income with more to come in 2024
Servicing: continued increasing income with more to come in 2024 Adj. Income and adj. EBIT Margin for Servicing 30% 13,962 23% 20% a 310 - EEE 0% Q4 Q4 Qi Q2 Q3 Q4 2021 2022 2023 mmm RTM Adj. Income = —==RTM Adj. EBIT Margin SLE margins on new contract signed in 2023 and organic growth per region FY
Slide 7: Investing: extracting value and new investments to all time high IRR
Investing: extracting value and new investments to all time high IRR RTM net cash extraction, SEK bn * RTM net cash extraction of SEK 5.4 bn vs. average of SEK 2.7 bn over last three years * Book value decreased to SEK 37 bn vs. SEK 39 bn Q3 ‘23, 71 2020 2021 2022 2024 0.5 * Q4'23 SEK 532 M of new p
Slide 8: Investing: continued solid collectability above active forecast
Investing: continued solid collectability above active forecast RTM gross cash collections 13,426 13,748 CAGR 11,817 sy | | | | , a4 at Q2 Gs 64 Ot QR Ha Rs 2020 2021 2022 2023 Performance index vs. active forecast 112% 113% | | a4 at Q2. G3 AA ORS ACR 2020 2021 2022 2023 intrum * RTM gross cash col
Slide 9: Leading the way to a sound economy
Leading the way to a sound economy Helped 5.1 M individuals to become debt free with Intrum last 12 months Achieved 4.3 / 5.0 customer satisfaction rating last 12 months average Achieved 8.4' / 10.0 client satisfaction score last 12 months average Collected SEK 105 bn last 12 months of which SEK ~14
Slide 10: Asset sale of SEK 11.5 bn: raising liquidity and progressing toward capital-light model
Asset sale of SEK 11.5 bn: raising liquidity and progressing toward capital-light business model Portfolio: Transaction includes assets in 13 jurisdictions in over 10,000 portfolios with a nominal value of SEK 382 bn Book value of SEK 11.5 bn as of September 30, 2023 Servicing mandate: Minimum 5-yea
Slide 11: Asset sale: benefits of transaction
Asset sale: benefits of transaction | ya Raises significant liquidity and accelerates deleveraging =A € | Validates ERC and book values on significant portion of investment portfolio eee Wy Cements servicing relationship with Cerberus, top NPL investor € > Shifts assets from proprietary balance shee
Slide 12: Significant progress towards our priorities laid out in 2023
Significant progress towards our priorities laid out in 2023 Selected achievements in 2023 Acquired technological platforms enabling transition to a tech driven company SZ Successfully improved our Servicing franchise SZ Cost-saving target achieved and expanded Strengthen Intrum’s position in UK and
Slide 13: Financials
Slide 14: Group key financials
Group key financials: positive adj. income growth vs. 2022 SEKM Q4 2023 Q42022 Change% FY2023 FY2022 Change% mNetDebt mCash EBITDA ——Leverage ratio Income 5,540 5,542 ie} 20,000 19,368 3 Adjusted income 5,540 5,134 8 20,000 18,960 5 EBIT 1,646 1,155 242 4,364 154 nm. 44 Items affecting comparability
Slide 15: Cost program on track
Cost program on track Progress update SEK bn RTM Q1‘23 Cash Cost 11.8 bn + Cost base has been subject to significant currency effects, inflation and impact from Internal factors External factors recent M&A activities 0.6 + Cost reduction starting to materialise, with SEK 0.3 bnrealised FY ‘23 Sasol
Slide 16: Servicing: M&A positively impacting income growth, margins still subdued
Servicing: M&A positively impacting income growth, margins still subdued SEKM CEE ee ~Adjusted EBIT External income 3,415 2,929 17 11,444 10,424 10 A Internal income 502 702 28 (BIB (2,664 5 RTM (RTM Margin) Adjusted income 3,918 3,631 8 13,962 13,088 7 1,310 EBIT 378 610 -38 1,370 1,669 18 2,191 It
Slide 17: Investing: resilient cash collections and value extraction
Investing: resilient cash collections and value extraction Gross cash collections Income 2114 2,613 49 8,545 8,944 -4 — Index vs. active forecast Adjusted income 2,114 2,205 4 8,545 8,536 (°) 13 EBIT 1,265 1,329 195 4,956 42 nm. 11 103 Items affecting comparability 26 2,687 -99 191 5,333 -96 Adjuste
Slide 18: Funding: deleveraging is the key priority
Funding: deleveraging is the key priority Net debt development, SEK bn Maturity profile, SEK M 20.000 16.000 58.9 0.8 || 573 8.000 “17 -2.0 4.000 | — 2023 2024 2025 2026 2027 2028 @3'23' Cash flow Investing? _—Dividend FX 4:23 =CP mEURbond mSEKMTN =PP mRCF utilised mUnutilised RCF m Term loan Underw
Slide 19: Final Remarks
Slide 20: Medium term financial targets: progress since CMD in September 2023
Medium term financial targets: progress since CMD in September 2023 Starting point (Q2 ‘23 RTM) SEK 10.6 bn 18% SEK 41bn 4.6x Q4 2023 16% CAGR 2026 Target ~10% ; SEK CAGR aoe ~30bn aan External Servicing adjusted income growth intrum Total Servicing adjusted EBIT margin Proprietary Investing book va
Slide 21: Near term and long term actions to deliver on our targets
Near term and long term actions to deliver on our targets Near term tactical measures Long term fundamental measures intrum Vv Lower proprietary investments v Exiting selected markets Y Tactically selling back book Cost reduction * Become a tech driven company * Intense commercial focus * Leverage t
Slide 22: Q&A
Q&A intrum
Slide 23: Appendix
intrum x
Slide 24: Table of Contents
Table of Contents 1. Outstanding interest rate bearing debt 2. Pro forma portfolio investments and ROI 3. Current MoM 5. Portfolio joint ventures 6. Unsecured portfolio vintages 7. Upcoming IR activities intrum 24
Slide 25: 1. Outstanding interest rate bearing debt
1. Outstanding interest rate bearing debt Nominal Amount in Coupon Next payment Currency mount (M) SEKm Couponrate Maturity date eetleney Ks ISIN EUR 469 5,204 3.13% 7/45/2024 Biannually 01/15/2024 XS1634532748 ‘SEK 1,500 1,500 7.43% 10/1/2024 Quarterly 01/02/2024 ‘SE0013102407 EUR 850 9,432 4.88% 8
Slide 26: 2. Pro forma portfolio investments and ROI
2. Pro forma portfolio investments and ROI SEKm 12000 11854 17.5% 17.5% 15.7% 14.7% 8.106 7,538 9.000 44% 13.9 7,324 11.8% 2,683 6000 3,780 5,012 4,258 1633 7,857 4n0 837 3141 831 5, 3000 8 2051 2,783 1,436 ey i 2015 2016 2017 2018 2019 2020 Portfolio ROI ex IAC and revaluations RTM Portfolio ROI ex
Slide 27: 3. Current MoM
3. Current MoM SEKM Q120 Q220 Q320 Q420 Q121 Q@221 @Q321 @Q421 Q122 @222 Q322 Q422 Q123 Q223 Q323 Q423 Purchase price of portfolios acquired in 1,650 1,267 837 1,256 1,443 1,680 1445 2133 1675 3120 1347 1147 1,675 2854 409 528 quarter Lifetime ERC of portfolios acquired in 3,036 2.944 1,791 2554 319
Slide 28: 4. Estimated Remaining Collections (ERC)
4. Estimated Remaining Collections (ERC) 15-year ERC of SEK 76.1 bn SEK bn 12.0 29% of ERC due next 24 months 9.0 l] 6.0 l] [ | i s a = EBHREHBeEeses = =» YI Y2 Y3 Y4 YS Y6 Y7 Ye Y9 Yi0 yu "Northern Europe = Middle Europe mSouthern Europe © Tactical Europe IERC distribution (SEKbn) Yi Y2 Y3 Y4 Y5 Yo
Slide 29: 4. Estimated Remaining Collections (ERC)
4. Estimated Remaining Collections (ERC) ERC by Asset Class ERC by Geography Real Estate Tactical Northern 1% \ __ Secured Europe. Europe 7% 15% \ D 24% Southern Europe 31% Unsecured Middle 92% __— Europe 30% ERC by Investment Type ERC by Industry Forward Realestate Other flows 16% Credit cards 12%
Slide 30: 5. 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 5,027 800 500 205 Portland Italy 29 234 50 381 242 Cierzo Spain 40 230 37 10) 0
Slide 31: 6. Unsecured portfolio vintages
6. Unsecured portfolio vintages Unsecured Purchase Collections Remaining Totalestimated Total money-on- A B G B+ Cc B.c;a %5% <2010 8719 23,600 1,992 25,591 2.94x 280x 2010 1,940 5,231 862 6,093 3.14x 20 2,660 6,769 1,158 7,927 2.98x WA _ 2012 3,670 8,654 1,681 10,334 2.82x 2:10x 2013 3,532 7,884 1,
Slide 32: 7. Upcoming IR activities
7. Upcoming IR activities Q4 '23 roadshow Organised by Carnegie - 1 on 1’s and group meetings * 25 January 2024 — Physical Carnegies office (Stockholm) Organised by Citi * 26 January 2024 — Online Financial calendar * 26 April 2024 Interim report first quarter 2024 + 19 July 2024 Interim report seco
Slide 33: 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 34: Leading the way to a sound economy.
Leading the way to a sound economy. intrum