Slide 1: Interim Report January — March 2024
24 April 2024 Interim Report January — March 2024 Andrés Rubio, President & CEO Emil Folkesson, Interim CFO intrum
Slide 2: Today's presenters
Today’s presenters Andrés Rubio President & CEO Emil Folkesson Interim CFO intrum
Slide 3: First quarter 2024 highlights
First quarter 2024 highlights Positive development in seasonally slow Q1 Adj. Income growth of 8% vs. Q1 ‘23, driven by M&A Adj. EBIT increased 8% and cash EBITDA 2% vs. Q1 2023 RTM cash extraction of SEK 6.4 bn (3.5) from Investing Leverage ratio at 4.3x before FX impact and 4.4x including FX Servi
Slide 4: Economic trajectory continues to support demand for our services
Economic trajectory continues to support demand for our services Volume of EU NPLs has been steadily increasing throughout 2023 leading to a rise in NPL ratio at year end! Stage 2 ratio increased between Q3 and Q4 ‘23 in the markets we operate, second highest reading since EBA started to publish thi
Slide 5: Servicing: conditions laid out for a record year
Servicing: conditions laid out for a record year Our operating platform, 2023 (2022) . Coll servicing AUM he pend Ext. income SEK bn 970 102 1.4 (1,015) ~~ f (91) ~” — (10.4) 1% 1% (9%) (11%) Recovery Conversion rate rate of AuM? ‘of Collections* ACV signings and M&A impact on income 09 0.4 0.5 a as
Slide 6: Servicing: increasing income with margin to improve H2 '24
Servicing: increasing income with margin to improve H2 ‘24 Adj. Income and adj. EBIT Margin for Servicing 14,339 30% a0 13,140 19% 20% 42,382 . | L_| 0% a Q2 Qs aa a a2 Q3 aa al 2022 2023 2024 |_| RTM adj. income == RTM adj. EBIT margin CAGR SLE margins on new contract signed in 2023 and organic gro
Slide 7: Investing: extracting value and continued high IRR investments
Investing: extracting value and continued high IRR investments RTM net cash extraction, SEK bn q * RTM net cash extraction of 7 SEK 6.4 bn vs. average of (a) SEK 3.1 bn over last three years é * New Investments of SEK 371M 5 (1,664) at an IRR of 17% (16%) 4 * Investing book value increased 24 slight
Slide 8: Investing: continued solid collectability above active forecast
Investing: continued solid collectability above active forecast RTM gross cash collections, M SEK 13,497 13,804 CAGR 12,222 10,913 (sx) Qi Q2 A aR G—- HQ (a GS a 2021 2022 2023 2024 Performance index vs. active forecast 105% | | | | 100% 100% a @ @ @ a @Q2 @ @& a Qa @&3 @ a 2021 2022 2023 2024 intru
Slide 9: Leading the way to a sound economy
Leading the way to a sound economy B score CDP rating 2023, exceeding both the sector (C) and global average (C) 4.3/5 Achieved 4.3 / 5.0 customer satisfaction rating last 12 months average intrum 4.9M Helped 4.9 M individuals to become debt free with Intrum last 12 months 120 bn Collected SEK 120 b
Slide 10: Financials
v — inancia F intrum
Slide 11: Group key financials: continuing trend with strong income growth
Group key financials: continuing trend with strong income growth SEKM Q12024 Q12023 Change% RTM FY 2023 Income 4891 4,524 8 20,368 20,000 Adjusted income 4891 4,524 8 20,368 20,000 EBIT' 767 917 -16 4,213 4,364 Items affecting comparability 389 149 161 1,663 1,422 Adjusted EBIT 1,155 1,068 8 5,876 5
Slide 12: Servicing: growing income and continued high commercial activity
Servicing: growing income and continued high commercial activity Adjusted EBIT External income 2,897 2,503, 16 11,838 11,444 Internal income 625 641 3 2,502 2,518 —R™ Adjusted income 3,521 3,144 12 14,339 13,962 EBIT 194 243 -20 1,322 1,370 2.798 Items affecting comparability 149 75 98 895 821 " 2,5
Slide 13: Investing: solid cash collections in a tough operating environment
Investing: solid cash collections in a tough operating environment SEKM Q12024 Q12023 Change% RTM FY 2023 Cash income Income 1,961 2,020 3 8,486 8,545 index vs. active forecast Adjusted income 1,961 2,020 3 8,486 8,545 EBIT 1,007 1134 - 4,829 4,956 110 Items affecting comparability 115 63 84 243 191
Slide 14: Cost program development
Cost program development SEK bn RTMQ1 ‘23 Cash Cost 11.8 bn RTM Q1‘24 1 Hl Internal factors ' External factors Hl ! 0.6 Hl 1 f ! 0.6 1 1 f 13 H T 1 1 ' “05 i 1 1 . 1 -05 ' Cost Savings Decrease in Cost in 1 Inflation & FX cost implied by aquired/disposed ; Salary increase volume change businesses |
Slide 15: Deleveraging remain a key priority
Deleveraging remain a key priority Net debt development, SEK bn Maturity profile, SEK M 20 000 16.000 a 12000 = 8000 — “i Es 2024 2025 2026 2027 2028 @a2s! Cash flow Investing? @Q1'24FX neutral - @i2a =CP mEURbond mSEKMTN =PP mRCF utilised mUnutilised RCF mTerm loan Underwriting returns vs. funding
Slide 16: Slide 16
Slide 17: NPL Directive: overview and Intrum advantages
NPL Directive: overview and Intrum advantages Material content and status Banks can either: (i) sell NPLs to Credit Purchasers, and/or (ii) utilise licensed Credit Servicers Directive requires Credit Servicers and Credit Purchasers to be licensed in all jurisdictions (Intrum acts in both roles) and
Slide 18: Ophelos launched in Netherlands during April
Ophelos launched in Netherlands during April first payments have been made and payment plans been setup Client information + Dutch buy now pay later client * Cases purchased 90 days after invoicing * Daily case uploading, between 5 and 50 cases per day + Average claim size of EUR 90, excl. fees intr
Slide 19: Medium term financial targets: progress since CMD in September '23
Medium term financial targets: progress since CMD in September ‘23 Starting point (Q2 ‘23 RTM) Q1 2024 15% CAGR 2026 Target ~10% SEK . >25% 3.5x CAGR ~30bn External Servicing adjusted Total Servicing adjusted Proprietary Investing book L P A 9 q everage ratio income growth EBIT margin value excl. re
Slide 20: Q&A
Q&A intrum
Slide 21: Appendix
Appendix intrum
Slide 22: Table of content
Table of content Outstanding interest rate bearing debt Pro forma portfolio investments and ROI Current MoM Estimated Remaining Collections (ERC) Portfolio joint ventures Unsecured portfolio vintages NOOB WN > Financial calendar intrum 22
Slide 23: Outstanding interest rate bearing debt
1. Outstanding interest rate bearing debt * Key Bond and RCF restrictions: + Fixed Charges Coverage Ratio >2x Drawn Super Senior Leverage <2x * Bonds restrict super senior leverage to the higher of EUR 1.1 bn or 35% of 84m consolidated ERC * The weighted average maturity of the debt is 24 months, an
Slide 24: Pro forma portfolio investments and ROI
2. Pro forma portfolio investments and ROI SEKm 11,854 12000 17.5% 175% 15.7% 147% 8,106 14.0% 9.000 14.4% 13.2% 7.324 7,538 13.9% 11.8% 2,683 Bae) 6000 iss 5508 3,780 5,012 633 530 1,258 1633 3 4M0 837 3141 831 4 3000 Peel 2783 1,436 eS) EA ~~ . ae | 2015 2016 2017 2018 2019 2020 2022 2023 2024 Por
Slide 25: Current MoM
3. Current MoM SEKM Q120 Q220 Q320 Q420 Q121 Q221 Q321 Q421 @Q122 @Q222 @Q322 @Q422 @Q1i23) Q223 Q323 Q423 Q124 Purchase price of portfolios acquired 1,650 1,267 837 1256 1,443 1,680 1445 2133 1675 3120 1347 1147 1,675 2854 409 528 328 in quarter Lifetime ERC of portfolios acquired 3,036 2,944 1,791
Slide 26: Estimated Remaining Collections (ERC)
4. Estimated Remaining Collections (ERC) 15-year ERC of SEK 75.3 bn SEK bn 12.0 30% of ERC due next 24 months 9.0 3.0 a || = | lJ i Eeees s of |_| || || || = = YI Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y? Y10 Yu Y12 Y13 Y14 YS mNorthern Europe = Middle Europe Southern Europe ® Tactical Europe (SEKbn) Yi Y2 Y3 Y4 Yé Y
Slide 27: Estimated Remaining Collections (ERC)
4. Estimated Remaining Collections (ERC) ERC by Asset Class Real Estate 1% _- Secured 7% Unsecured 92% ERC by Geography Tactical Europe 10% Northern Europe 29% Southern Europe 30% Middle Europe 31% ERC by Investment type Forward flows 16% One-off investments 84% intrum ERC by Industry Realestate Oth
Slide 28: Portfolio joint ventures
5. Portfolio joint ventures Cash received to date Portfolio Geonranh Investment share Investment (Intrum), (Intrum), Current ERC (Intrum), CELINY (Intrum), % SEKM di SEKM SEK M Savoy Italy 59% 5,027 830 519 Portland Italy 29% 234 62 391 Cierzo Spain 40% 230 38 0 Winter Italy 20% 200 79 258 Sunrise 1
Slide 29: Unsecured portfolio vintages
6. Unsecured portfolio vintages BS eS = Se A B e B.C Bic yA 5.50x <2010 8719 23,699 1,887 25587 2.93x 2.80x 2010 1,940 5,270 829 6100 3.14x 2011 2,660 6,828, 1,108 7,937 2.98x _ 2012 3,670 8,736 1,607 10,342 2.82x 240x 2013 3,532 7,972 1,542 9,514 2.69x 2014 3811 8,686 2,224 10,910 2.86x 2015 4,945
Slide 30: Financial calendar
7. Financial calendar Financial calendar 18 July 2024 Interim report second quarter 2024 23 October 2024 Interim report third quarter 2024 23 January 2025 Interim report fourth quarter 2024 intrum 30
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.
Leading the way. intrum