B2 Impact (B2H) Arctic Nordic Debt Collection Presentation summary

Financial performance and growth

• Revenues reached NOK 3,718m in Q3'25, with EBIT at NOK 1,667m and a 45% EBIT margin.

• Net profit stood at NOK 657m, with EPS of 1.78 and a cash margin of 70%.

• Cash EBITDA was NOK 4,579m, and leverage ratio was 2.0x.

• EPS grew 74% over the last 12 months, driven by strong collection and investment growth.

• Unsecured collections grew 29% over five years, with 110% performance LTM.

Strategic priorities and value drivers

• Focus on sustainable collection performance and ERC growth, with investments mainly in unsecured portfolios.

• Cost control, increased automation, and leverage ratio target below 2.5x.

• Significant reduction in interest costs and increased investment levels to support future EPS growth.

• Gross IRR expected to match Net IRR due to cost reductions and scalability.

• Portfolio revaluations projected at NOK 150-200m annually for 2025-2027.

Cash flow, dividends, and capital structure

• Strong cash earnings support investment growth and high dividends, with free cash flow of NOK 1,328m LTM Q3'25.

• Dividend per share expected to be at least NOK 1.7 for 2025.

• Reduced annual interest costs by NOK 40m through refinancing; hedging ratio at 72% with nearly 3 years duration.

• Liquidity reserve of ~EUR 400m plus operational cash flow.

• Leverage ratio remains comfortably below 2.5x.