Jefferson Capital, Inc. · NASDAQ:JCAP
Jefferson Capital — Q1 2026 Earnings Presentation
14 slides from Jefferson Capital's earnings presentation, May 14, 2026
Slide 1: First Quarter Financial Results
First Quarter Financial Results May 14, 2026 © 2020 © 2026 Jefferson Jefferson Capital Capital, Systems, Inc. LLC
Slide 2: Disclaimer
Disclaimer Forward Looking Statements Disclaimer This presentation of Jefferson Capital, Inc. (together with its direct and indirect subsidiaries, “we”, “us”, “our”, “JCAP”, “Jefferson Capital”, or the “Company”) contains forward-looking statements within the meaning of the Private Securities Litiga
Slide 3: 1Q'26 Financial Performance Overview
1Q’26 Financial Performance Overview ✓ Record collections driven by 2024 and 2025 deployments $310mm Up 19% vs 1Q’25 ✓ ERC propelled by deployments at attractive returns $3.4bn ERC Up 18% vs 1Q’25 ✓ Record revenue continues strong growth trend $176mm Up 14% vs 1Q’25 ✓ Relentless focus on cost and st
Slide 4: Macroeconomic Backdrop Remains Favorable
Macroeconomic Backdrop Remains Favorable Elevated levels of consumer credit and charge-offs drive strong supply of non-performing portfolios, while continued low unemployment supports portfolio liquidation rates Strong Supply Driven by Normalization of Credit Quality Trends 90+ Day Delinquency Balan
Slide 5: 1Q'26 Operating Performance Highlights
1Q’26 Operating Performance Highlights Collections Observations ($ in millions) ▪ Collections remain strong propelled by 2024 and 2025 deployments o Seasonal impact related to tax refunds in the U.S. o $54.5 mm of collections for the quarter attributable to the Bluestem portfolio purchase o $31.0 mm
Slide 6: 1Q'26 Estimated Remaining Collections
1Q’26 Estimated Remaining Collections ERC by Geography (1) Observations ($ in millions) ▪ ERC well diversified geographically and between lines of business o U.S. Distressed ERC includes $237.7 mm related to the Bluestem portfolio purchase and $104.6 mm related to the Conn’s portfolio purchase $3,35
Slide 7: Best-in-Class Operating Efficiency Drives Strong Profitability
Best-in-Class Operating Efficiency Drives Strong Profitability Cash Efficiency Ratio(1) Observations ▪ Relentless focus on operating efficiency core to the JCAP return proposition o Own high value-add aspects of the purchasing and collection process that create competitive advantages o Outsource com
Slide 8: Detailed Financial Performance and Comparison vs. 1Q'25
Detailed Financial Performance and Comparison vs. 1Q’25 Key Financial Metrics Observations ▪ Strong revenue growth supported by deployments at attractive yields ($ in millions, except EPS) Q1’26 Vs. Q1’25 ▪ Court costs increased to $17.3 mm, up 86% vs. Q1’25 as a result of increased consumer litigat
Slide 9: 1Q'26 Leverage and Funding Structure Overview
1Q’26 Leverage and Funding Structure Overview Net Debt / Adjusted Cash EBITDA(1) Observations ▪ JCAP seeks to operate the business long term within a range of 2.0 - 2.5x Net Debt / Adjusted Cash EBITDA o Leverage remains significantly lower than publicly traded peers ▪ On April 22, 2026 JCAP complet
Slide 10: Capital Allocation Framework
Capital Allocation Framework Portfolio • Continue to deploy capital at attractive risk adjusted returns Growth • Maintain leverage in the 2.0-2.5x range on a sustained basis • Quarterly dividend of $0.24 per share, payable on June 4 to shareholders of Quarterly record as of May 26 Dividend • Annuali
Slide 11: Appendix
Tab Appendix © 2020 © 2026 Jefferson Jefferson Capital Capital, Systems, Inc. LLC
Slide 12: Calculation of Quarterly Cash Efficiency Ratio
Calculation of Quarterly Cash Efficiency Ratio ($ in Millions) Three Months Ended Mar'31 Jun'30 Sep'30 Dec'31 Mar'31 2025 2025 2025 2025 2026 Collections $ 260.9 $ 255.7 $ 236.8 $ 245.3 $ 309.9 Credit card revenue 1.9 1.8 1.8 1.7 1.7 Servicing revenue 10.7 10.5 9.4 9.1 10.0 Cash Receipts (A) $ 273.5
Slide 13: Reconciliation of Adjusted Pre-tax Income and Adjusted Net Income
Reconciliation of Adjusted Pre-tax Income and Adjusted Net Income, Calculation of Adjusted Pre-tax ROAE, and Calculation of Adjusted EPS ($ in Millions) Three Months Ended Mar'31 Jun'30 Sep'30 Dec'31 Mar'31 2025 2025 2025 2025 2026 Pre-tax income $ 66.9 $ 61.9 $ 45.5 $ 44.1 $ 51.1 Foreign exchange a
Slide 14: Calculation of Quarterly Leverage
Calculation of Quarterly Leverage ($ in Millions) Trailing Twelve Months Ended Mar'31 Jun'30 Sep'30 Dec. 31, Mar. 31, 2025 2025 2025 2025 2026 Net cash provided by operating activities $ 184.5 $ 215.6 $ 270.9 $ 268.8 $ 256.8 Changes in prepaid expenses 13.0 11.1 (13.8) (0.5) (7.5) Changes in account