Slide 1: Interim Report April — June 2022
Interim Report April — June 2022 21 July 2022 Anders Engdahl, President and CEO Michael Ladurner, CFO intrum
Slide 2: Today's presenters
Today’s presenters Anders Engdahl President and Chief Executive Officer Michael Ladurner Chief Financial Officer intrum
Slide 3: Highlights of Q2 2022
Highlights of Q2 2022 Seasonally strong Q2 ‘22 Servicing: significant organic growth - All key cash P&L metrics up >10% vs. Q2 ‘21 - RTM Cash EPS up 19% in Q2 ‘22 vs. Q2 ‘21 - Leverage temporarily elevated - investments, dividend & FX - No visible adverse impact from rising economic uncertainty Port
Slide 4: Servicing: Well prepared to support clients and capture opportunities
Servicing: Well prepared to support clients and capture opportunities CO Market dynamic Inflationary pressures with consumer prices (HICP) in Euro area up 8.6% in June Significantly increased cost of borrowing EU consumer confidence continues to fall - households’ outlook on their future financial s
Slide 5: Current macro to drive inflows with improved revenue conversion and operating leverage
Current macro to drive inflows with improved revenue conversion and operating leverage CAGR Q1'21-Q2'22: 2aOooooodda®d? ® OO © ‘SEK bn Inflection Point SEK bn 27 4 24 7 Total Collections 21 4 \\ WW Ext. & Int. Servicing Revenues (CMS & Strategic Markets) Total Costs (CMS & Strategic Markets) 0. Q2'2
Slide 6: Portfolio Investments: Focus on collection performance
Portfolio Investments: Focus on collection performance Market dynamic Competitive environment despite increasing uncertainty and higher funding costs Solid supply of opportunities across European footprint Required returns expected to adjust upwards as sector refinances Fresher claims and non-payers
Slide 7: ONE Intrum transformation program: Continued progress in line with plans
ONE Intrum transformation program: Continued progress in line with plans Transformation program spend, MSEK 2020 2021 2022 2023 150 1500 100 1000 50 500 Q420 QI21 Q221) Q321) Q42i QI22 Q222 Q322 Q422 QI23 Q223 Q323 Q423 mmm Actuals Budget —-~Budget accumulated (RHS) = ——=Actuals accumulated (RHS) Ag
Slide 8: ONE Intrum transformation program: KPIs
ONE Intrum transformation program: MX KPIs FTE cost-to-collect RTM, % 7.0% ONE Intrum Quarterly actuals 6.5% 6.0% eo BS 55% hes = QB + Q2'22F TE cost-to-collect of 5.9% ox (or-like FTE Cost-to-collect red Quarterly significantly improved vs. 6.4% in Q2 os ced by 20% ‘21 and 6.1% in Q1 ‘22 4.0% 2021
Slide 9: ESG targets remain on track
ESG targets remain on track Ethical collection by treating customers fairly Attract & retain talents including wellbeing of employees Diversity and inclusion (GMT) Sound economy for our clients Reduced environmental impact intrum Target by 2023 80 80 40% Women 75 ¥ 20% Current 8 oO SUSTAINALYTICS ES
Slide 10: Financials
Slide 11: Group key financials: Seasonally strong Q2 '22 & significant organic growth
Group key financials: Seasonally strong Q2 ‘22 & significant organic growth SEK M Q22022 Q22021 Change % RTM FY 2021 Cash revenues 6 266 5591 12 23 433 22 215 Cash expenses -2 858 -2 625 9% -10 359 -9 905 Cash EBITDA 3.408 2966 15 13075 12 310 Replenishment capex 1751 -1477 18 -6 214 -5 654 Other ca
Slide 12: Group cash earnings generation: Operating leverage & attractive returns
Group cash earnings generation: Operating leverage & attractive returns M . 32 35 34 RTM, SEK bn no 28 ‘ 29 34 20 + Year over year 7% cash revenues 10 growth translating into 19% . recurring cash earnings growth, \ ae ca again highlighting inherent \ 2020 ont 2022 / operating leverage 13.1 . J 10.4
Slide 13: Credit Management Services: More to come
Credit Management Services: More to come SEK M Q22022 Q22021 Change % RTM FY 2021 Cash revenues 1019 1012 1 4124 4102 Cash EBITDA 348 429 -19 1532 1701 Other capex =6 -18 -67 -43 -61 Cash EBIT 342 41 -17 1489 1640 Avg. invested capital 19 449 19 176 1 19197 19 103 Segment cash RoIC, % 7.0 8.6 71.6 p
Slide 14: Strategic Markets: Firing on all cylinders
Strategic Markets: Firing on all cylinders SEK M Q22022 Q22021 Change % RTM FY 2021 Cash revenues 1557 1315 18 5939 5624 Cash EBITDA 851 589 44 3424 3.080 Other capex =17 -17 -4 -70 -72 Cash EBIT 834 572 46 3354 3.009 Avg. invested capital 14 845 15 674 -5 15 052 15 504 Segment cash RoIC, % 22.5 14.
Slide 15: Portfolio Investments: Record gross collections & strong investment quarter
° Portfolio Investments: = ° ° Record gross collections & strong investment quarter oa ‘ortfolio Investments SEKM 2022 Q22021 Change% RTM — FY 2021 each revenucs 3on0 3265 u Be pes 2 are All time high gross collections in a asi . . Replenishment capex -1751 -1477 18 -6 213 -5 654 avert we an nee 3 C
Slide 16: Funding: Net debt 72% fixed rate & no significant maturities until '24
Funding: Net debt 72% fixed rate & no significant maturities until ‘24 Underwriting returns vs. funding cost 16.0% 20% —— oS , 8.0% <€e> 4.0% | QI 18 Q2 18. Q3 18 Q4 18 Q119 Q2 19 Q3 19 Q4 19. QI 20Q2 20Q3 204 20 QI 21 Q2 21. Q3 21 Q3 21 Q4 21 Q1 22 Q2 22 —Cost of funds ——RTM avg. net unlevered unde
Slide 17: Medium-term financial targets
Medium-term financial targets: Continued progress towards medium-term financial targets 89% 8.9% —910% >10% 8.8% . Cash RolC i 6.8% 7A% 8.0% (RTM) ii il Q120 Q220 Q320 Q420 Q121 Q221 Q321 Q421 QI22 Q222 . + We remain on track towards our CAGR 433% medium-term financial targets set 285 out during the
Slide 18: Closing remarks
| remarks F
Slide 19: Final remarks
Final remarks CMS * Moderate investment pace in 2™ half, * Continued transfer of volumes to new * Continued focus on new client due to uncertain environment and operating platform and rapidly signings expectation of market repricing increasing utilisation of global front + Expect increasing new case
Slide 20: Q&A
Q&A intrum
Slide 21: Appendix
intrum x
Slide 22: 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 nsecured portfolio vintages 6. Upcoming IR activities | intrum 22
Slide 23: 1. Outstanding interest rate bearing debt
1. Outstanding interest rate bearing debt rate — Maturity SEK 750 3.13% 9/12/2022 Quarterly 9/12/2022 $E0013104072 SEK 2900 4.05% 7/3/2023 Quarterly 10/3/2022 $E0011426295 EUR 900 9657 3.13% 7/5/2024 Biannually 1/16/2023 XS1634532748 SEK 1500 1500 4.12% 10/1/2024 Quarterly 10/3/2022 SE0013102407 8 E
Slide 24: 2. Pro forma portfolio investments and ROI
17.5% 17.5% 15.7% 14.7% 14.4% 14.4% 13.8% 11.8%
Slide 25: 3. Current MoM for replenishment capex calculation
3. Current MoM for replenishment capex calculation EKM Q318 Q418 QI19 Q219 Q319 Q419 QI20 @220 Q320 Q420 Qi2 22 321 Q42 ai22 22 Purchase price of portfolios 97 538 1277-1436 © B31_—« 37801650 «1267/««B37_—««d1286-=«1443)««1680=—« 1445218316753 120 acquired in quarter sein the gore 1825 4727 2669 281
Slide 26: 4. Estimated Remaining Collections (ERC) and collections performance
4. Estimated Remaining Collections (ERC) and collections performance SEK bn ‘I Y2 Y3 Y4 YS Y6 7 8 yo yiO YN YvI2 YI3 YI YIS italian porftfolio ERC ERC Portfolio Investment collections vs. active forecast 120% 115% 10% 105% 2018 2019 2020 2021 intrum QB 18 Q4 18 QI 19 Q2 19. Q3 19 Q4 19Q1 20Q2 20Q3 2
Slide 27: 4. Estimated Remaining Collections (ERC)
4. Estimated Remaining Collections (ERC) Toa I The : Y9 YI Y2 Y3 Y4 YS Y6 Y7 Y8 mStrategic Markets Other markets mNordics ERC (SEK bn) Y1 Y2 Y3 Y4 Y5 Y6 Y7 Strategic Markets 26 23 2.0 34 28 23 Wo Other markets 37 29 23 18 15 1.2 1.0 Nordics 29 25 2.2 19 17 16 14 DACH & UK 29 24 2.0 17 14 1.2 11 Tota
Slide 28: 4. Estimated Remaining Collections (ERC)
4. Estimated Remaining Collections (ERC) Real Estate ERC by Geography Other 1% . , __ Secured markets Nordics 16% 26% DACH & UK Unsecured 2% 83% ERC by Investment Type Strategic Markets 30% ERC by Industry Forward flows Realestate One" 13% Telecom 5% Credit cards 7% Finance 10% One-off investments 8
Slide 29: 5. Unsecured portfolio vintages
5. Unsecured portfolio vintages Unsecured Purchase Collections Remaining Totalestimated Total money-on- books, SEKM price todate ERC collections money multiple Constant currency vintage evolution for unsecured books 3.50x <2010 879 22 859 2013 24.872 2.80x 2010 1940 4947 1073 6020 2011 2.660 6 338 1
Slide 30: 6. Upcoming IR activities
6. Upcoming IR activities Q2'22 Virtual Roadshow Additional investor events + Organised by JP Morgan and SEB «J.P. Morgan European High Yield & Leveraged Finance -10n1's and group audiocast meetings Conference 7-9 September 2022 * SEB Nordic Seminar 9-11 January 2023 Financial calendar * 27 October
Slide 31: 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 32: Leading the way to a sound economy.
Leading the way to a sound economy. intrum