Interim report
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Third quarter 2026 Report 5 November 2026 Q3
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B2 Impact –2 Key figures Q3 2026 (NOKm) Highlights Investments Financials Corporate Matters Financial Report Third quarter 2026 report CEO comment The positive performance continued in the third quarter. Unsecured collections were up 10% on a comparable basis with collection performance at 112% versus 108% in the same quarter last year. With opex down 4%, we clearly show the strength in our business with collection growth combined with a lower cost base. Earnings per share were NOK 0.63 in the quarter, up 27% from Q3 last year. We now expect earnings per share above NOK 2.40 for 2026 and a return on equity of 17% at year end. As mentioned in the previous quarter, we will present a revised business plan with updated long term financial targets at the Q4 presentation. We experienced high investment activity in the third quarter, with growth of 15% in portfolio investments versus the same quarter last year. We expect high seasonal activity for portfolio investments in the fourth quarter, and we enter the quarter in a very strong position where we can be selective and price disciplined. We maintain the investment target for the full-year of NOK 4bn. On the financing side we renegotiated the RCF at improved terms during the quarter. Furthermore, we issued a new EUR 150m bond in September at the lowest margin achieved ’ W also hedged around 80% of floating interest cost for the next 3 years. I am pleased to see the strong development of the company year-to-date. With our revised targets for 2026 we are well positioned to once again deliver value to our shareholders through attractive dividends while at the same time maintaining sustainable growth and a healthy balance sheet. Trond Kristian Andreassen CEO of B2 Impact ASA
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B2 Impact –3 1. Key Financials exclude non-recurring items 2. Change in constant FX, adjusted for NOK 410m REO sale in Q3 2025 Increased EPS target – Strong performance trend continues Key financials1 Highlights Investments Financials Corporate Matters Financial Report • Sustainable strong collection performance: Unsecured at 112% performance compared to 108% last year, and 10% underlying growth in unsecured collections • Growth in ERC: Underlying growth of 19% • Lower opex: Underlying opex down 4% with 10% growth in unsecured collections • Lower cost of funding and bond refinancing: Underlying cost of debt down 10% and issued EUR 150m bond at 2.65% margin • Earnings growth ahead of plan: Underlying Net profit up 27% • On track to reach investment target of NOK 4bn: NOK 3.7bn committed YTD for 2026 in constant FX • Increased EPS and ROE target for 2026 • EPS above NOK 2.40 (2.25) • ROE of ~17% (16%) Third quarter 2026 report
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B2 Impact –4 Investments Portfolio investments (NOKm) ERC1 (NOKm) 1. Includes the Group’s share of ERC for portfolios in joint ventures. Highlights Investments Financials Corporate Matters Financial Report Book value NPLs, REOs, JVs (NOKm) Portfolio investments in the third quarter were NOK 772m with the majority of portfolios in unsecured within consumer finance and banking. Secured investments relates to a mixed portfolio (secured and unsecured). One-off portfolios amounted to NOK 459m and the remaining NOK 313m through forward flows. The Group has so far invested and committed investments of NOK 3.5bn for the full year. The investment level is NOK 3.7bn in constant FX compared to the full year target of NOK 4bn. We expect high seasonal activity for portfolio investments in the fourth quarter, and we enter the quarter in a very strong position where we can be selective and price disciplined. Unsecured ERC has grown by 19% from the third quarter last year on a comparable basis and total ERC has increased 19% in the same period. Third quarter 2026 report
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B2 Impact –5 Collection performance and revenues Unsecured collection performance Unsecured collections continued the strong trend in the third quarter. Collection performance versus latest forecast was 112% in the third quarter compared with 108% in the same quarter last year. Comparable cash collections were up 7% compared with same quarter last year. Secured collection performance Secured cash collections in the third quarter ended at NOK 180m, down 68% compared with the same quarter last year. Underlying collections remained strong, but comparability is impacted by one large REO position sold last year for NOK 410m. REO sales were NOK 74m in the third quarter with a gain over book value of 63%. Book value of REOs is down 8% since Q3 last year. Other cash revenues Other cash revenues of NOK 87m were down 38% compared with the same quarter last year mainly due to lower servicing revenues. This is line with plan due to reduction in JV servicing and 3PC. Highlights Investments Financials Corporate Matters Financial Report Collections development (NOKm) Third quarter 2026 report 1. Adjusted for timing of cash received related to a one-off putback of NOK 64m, see p.28. 1
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B2 Impact –6 Operational efficiency Operating expenses LTM1 Third quarter 2026 report 1. Numbers in NOK million in constant FX, ex. NRIs and large REO sale Q3’25 Highlights Investments Financials Corporate Matters Financial Report Operating expenses (opex) Total underlying opex in the third quarter were down 4% compared with the same quarter last year on a comparable basis. In the same period unsecured cash collections were up 7% underlining the scalability in our business. Cost efficiency and initiatives In the third quarter the Group continued its focus on efficiency through collection strategy improvements and accelerated use of AI tools. The Group continues the rollout of voice bots and other AI tools in 2027. Voice bots supported by AI improve customer reach, lower the cost of operations and enrich data gathered during interactions with customers. Automation of written communication, including automated exchanges with customers, is gaining momentum. Going forward this will be a substantial cost saving benefit, with reduced response time, better quality and control. Beyond customer communication, we continue to use AI to automate data extraction from documents, accelerating the onboarding of new portfolios and improving collection efficiency across the back book. We also use AI to improve collection strategies and decision-making in both amicable and legal collection. Systematic rollout of automation across all country operations remains a strong, strategic priority of the G k G ’ results, and this effect is expected to accelerate throughout 2026 and in the coming years.
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B2 Impact –7 Cash EBITDA Cash revenues were down 24% from Q3 last year and 18% on a comparable basis. The decrease in Cash revenues is mainly driven by the sale of one large REO position in Q3 last year partly offset by higher unsecured collections and lower opex. Cash EBITDA for the third quarter was down 23% compared with the same quarter last year on a comparable basis. The comparable Cash EBITDA was up 8% when adjusted for the REO sale of NOK 410m in Q3 last year. The comparable Cash margin was down with 4.3 percentage points in the third quarter compared with the same quarter last year. Third quarter 2026 report Highlights Investments Financials Corporate Matters Financial Report
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B2 Impact –8 Reported revenues and EBIT Collections ex s mortisation Revaluation G 1 3 3 511 5 1 3 3 2 1 1 2 13 1 2 2 1 1 5 1 11 5 51 2 21 1 EBIT Reported EBIT was down by 2% compared with the same quarter last year driven by non-recurring items and FX. Adjusted EBIT on a comparable basis was up with 13% in Q3 compared with same quarter last year. Revenues Comparable revenues were up 4% compared with Q3 2025. Comparable revenues from NPLs were up 16% mainly due to an increase in unsecured collections. Revaluation in Q3 was NOK -54m. This includes a NOK 30m positive revaluation of unsecured portfolios driven by consistent overperformance. Revaluation of secured portfolios was NOK -85m, reflecting strong overperformance in the quarter and some timing adjustments to ERC. Third quarter 2026 report Highlights Investments Financials Corporate Matters Financial Report
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B2 Impact –9 Debt, Capital Structure and Financing Costs Debt and interest cost (NOKm) Capital Structure (EURm) Third quarter 2026 report Highlights Investments Financials Corporate Matters Financial Report Refinancing at improved terms and extended maturity profile In August, the Group signed a renegotiated 3-year RCF of EUR 510m with DNB and Nordea at improved terms, with a 2-year extension option. In September, the Group issued a new bond of EUR 150m with a 2.65% margin over 3m EURIBOR with maturity in 2032. ’ ’ higher debt level. Underlying interest costs given same debt level as third quarter last year was down 10%. Interest rate hedging coverage stood at 79% of net debt at the end of Q3, with an average remaining duration of 3 years. The liquidity reserve at the end of the quarter was around EUR 335m in addition to operational cash flow. E+3.75%I+margin E+3.25% E+2.65%E+3.90%
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B2 Impact –10 Third quarter 2026 report Interim condensed consolidated financial statements • Consolidated income statement • Consolidated statement of comprehensive income • Condensed consolidated statement of financial position • Condensed consolidated statement of changes in equity • Condensed consolidated statement of cash flows • Notes to the interim condensed consolidated financial statements
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B2 Impact –11 Consolidated income statement G Third quarter 2026 report Highlights Investments Financials Corporate Matters Financial Report All figures in NOK million unless otherwise stated
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B2 Impact –12 Consolidated statement of comprehensive income Third quarter 2026 report k k Highlights Investments Financials Corporate Matters Financial Report All figures in NOK million unless otherwise stated 1. There have been some minor reclassifications within equity which has impacted OCI YTD (10) compared to Q2 reported numbers.
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B2 Impact –13 Condensed consolidated statement of financial position G k Third quarter 2026 report Highlights Investments Financials Corporate Matters Financial Report All figures in NOK million unless otherwise stated
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B2 Impact –14 Condensed consolidated statement of changes in equity Third quarter 2026 report Highlights Investments Financials Corporate Matters Financial Report All figures in NOK million unless otherwise stated 1. There have been some minor reclassifications within equity which has impacted OCI YTD (10) compared to Q2 reported numbers.
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B2 Impact –15 Condensed consolidated statement of cash flows k k Third quarter 2026 report Highlights Investments Financials Corporate Matters Financial Report All figures in NOK million unless otherwise stated Cash and cash e uivalents comprised of k 1. There have been some minor reclassifications between exercised share options and change in non-current financial assets/liabilities (10) compared to Q2 reported numbers.
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B2 Impact –16 Notes to the interim condensed consolidated financial statements Note 1 – General information and basis for preparation B2 Impact ASA (the Company or Parent) and its subsidiaries (together the Group) is a pan-European debt investor and servicer. The business consist of purchase, management and collection of unsecured and secured non-performing loans. B2 Impact ASA is a Norwegian public limited liability company listed on the Oslo Stock Exchange (Oslo Børs) with k ’ Adelers gate 30, 0254 Oslo, Norway.. These interim condensed consolidated financial statements (interim report) for the third quarter ending 30 September 2026 have been prepared in accordance with IAS 34 Interim Financial Reporting. The interim report does not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the G ’ ’ -impact.com). The accounting policies applied in the preparation of the interim report are consistent with those followed in the preparation of the Group's annual financial statements for the year ended 31 December 2025. As a result of rounding differences, numbers or percentages may not add up to the total. The interim condensed consolidated financial statements for the quarters ending 30 September 2026 and 30 September 2025 are unaudited. Note 2 – Estimates and critical accounting judgements The preparation of the interim condensed consolidated financial statements requires the use of evaluations, estimates and assumptions that affect the application of the accounting principles and amounts recognised as assets, liabilities, income, and expenses. A description of the accounting policies, significant estimates, and areas where judgement is applied by the Group can be found in note 2 and note 3 of the consolidated financial statement for 2025. In this quarterly interim condensed consolidated financial statement, the accounting policies, significant estimates, and areas where judgement is applied by the Group are in conformity with those described in the annual report. Note 3 – Segment reporting An operating segment is a part of the Group from which it can generate income and incur expenses, for which separate financial information is available, and whose results are regularly reviewed by the Chief Operating Decision Maker (CODM) to make decisions about resources to be allocated. The Group CEO has been identified as CODM. Investments consist of the purchase and management of unsecured and secured loan portfolios directly or through investments in joint ventures. Repossessed assets acquired as part of the recovery strategy are included in Investments. Servicing is the collections of payments on behalf of the Investment segment, joint ventures and clients. The Servicing segment generates revenues from commissions and debtor fees. No operating segments have been aggregated to form the above reportable operating segments. Internal transactions between Investments and Servicing segment are priced on commercial terms. The commission is recognised as inter segment revenue in Servicing and as direct operating expense in Investments. Inter segment revenues and costs are eliminated upon consolidation and reflected as Unallocated items & eliminations in the segment reporting. Revenues from issued consumer loans (loan receivable), credit information and other services on behalf of clients are assessed to be not reportable operating segments and included in Other in the segment reporting. IT and SG&A are considered supporting segments, where SG&A includes sales, general and administrative expenses, e.g., Human Resources, Finance, Communication and Marketing, Legal and Compliance and other staff functions. Other items included in Unallocated items & eliminations include non-recurring items. Third quarter 2026 report Highlights Investments Financials Corporate Matters Financial Report
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B2 Impact –17 Segment overview G G Third quarter 2026 report Highlights Investments Financials Corporate Matters Financial Report All figures in NOK million unless otherwise stated
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B2 Impact –18 Segment overview G G Third quarter 2026 report Highlights Investments Financials Corporate Matters Financial Report All figures in NOK million unless otherwise stated
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B2 Impact –19 Segment overview G Third quarter 2026 report Highlights Investments Financials Corporate Matters Financial Report All figures in NOK million unless otherwise stated
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B2 Impact –20 Segment details Third quarter 2026 report G k k k k G Highlights Investments Financials Corporate Matters Financial Report All figures in NOK million unless otherwise stated
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B2 Impact –21 Segment details continued Third quarter 2026 report Highlights Investments Financials Corporate Matters Financial Report All figures in NOK million unless otherwise stated
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B2 Impact –22 Note 4 – Purchased loan portfolios k Net credit gain/loss from purchased portfolios The Group purchases materially impaired loan portfolios at significant discounts and as such impairments are already included at purchase. The expected credit loss for the purchased loan portfolios is not explicitly recognised as a loss provision since these financial assets are credit impaired by definition and the estimated loss is already part of the amortised cost. The Group's exposure to credit risk from the purchased loan portfolios is related to actual collections deviating from collection estimates, as well as from changes in future collection estimates. The Group regularly evaluates the current collection estimates on single portfolios and the estimate is adjusted if collections are determined to deviate from current estimate over time. The adjusted collection estimate is discounted by the initial rate of return at acquisition of the portfolio. Changes from current estimate adjust the book value of the portfolio and are included in the income statement in the line item "Net credit gain/(loss) from purchased loan portfolios". The portfolios are evaluated quarterly. Collections above collection estimates and upward adjustments of future collections estimates increase revenue. Collections below collection estimates and downward adjustments of future collection estimates decrease revenue. Payment of loan portfolios, cash flow statement “ ” other statements: Third quarter 2026 report Highlights Investments Financials Corporate Matters Financial Report All figures in NOK million unless otherwise stated
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B2 Impact –23 Note 5 – Financial instruments Please refer to note 4 for specific disclosures regarding purchased loan portfolios. Financial risk The strategy of the Group is to manage and limit both currency and interest rate risk. The Group holds various derivative financial instruments with the purpose of reducing its interest rate exposure and achieving a suitable currency ratio between its assets and liabilities. The changes in fair value of the designated hedging instruments (interest swaps and interest caps) are reported in Other Comprehensive Income. Changes in carrying amount of net investment hedge instruments as a result of foreign currency movements are also reported in Other Comprehensive Income. These amounts are reclassified to the income statement when the hedged transaction affects profit and loss and is presented on the same line as the hedged transaction. k M G ’ G for further information. Third quarter 2026 report Net financial items All figures in NOK million Interest cost and commitment fees mortisation of borro ing costs 1 1 1 3 2 5 2 53 12 3 Highlights Investments Financials Corporate Matters Financial Report All figures in NOK million unless otherwise stated
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B2 Impact –24 Note 6 – Interest bearing loans and borrowings The Group is financed by a combination of multi-currency Revolving Credit Facility (RCF) and Bond loans. At quarter end EUR 190 million was utilised from the EUR 510 million RCF leaving total available undrawn facility lines of EUR 320 million. G ’ k which have all been complied with at quarter end. G ’ G ’ 2025. M k Third quarter 2026 report Highlights Investments Financials Corporate Matters Financial Report All figures in NOK million unless otherwise stated
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B2 Impact –25 Third quarter 2026 report Highlights Investments Financials Corporate Matters Financial Report Note 7 – Share Capital and other paid-in capital Ordinary shares have a nominal value of NOK 0.10 each. The number and value of authorised and registered shares, and the amount of other paid-in capital, being the premium on shares issued less any transaction costs of new shares issued, was as follows: Proposed dividend and distribution for 2025 of 1.9 NOK per share were distributed 3 June 2026.
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B2 Impact –26 Third quarter 2026 report Highlights Investments Financials Corporate Matters Financial Report Note 8 – Business combinations In May 2026 the Group acquired 50% of the voting shares of CE Holding Invest S.C.S (Group) and CE Partner S.a.r.l, bringing the ownership to 100%. This investment has previously been reported as a joint venture but due to this transaction the joint venture is derecognised and fully consolidated as a subsidiary. This investment is mainly related to Croatian assets (NPLs and REOs) held in H-Abduco d.o.o. For practical purposes we have chosen end of May as acquisition date. The acquisition enables the Group to obtain full control of the NPLs and REOs in the acquired company, hence this is expected to improve operational efficiency and decision-making processes related to these assets. The previously held equity interest has been remeasured at fair value at the acquisition date. This remeasurement has not given any significant impact on profit and loss. The estimated purchase price for the whole group (100%) is approximately EUR 30 million. A provisional purchase price allocation has been performed (subject to change as facts and circumstances get more precise) ending up with NPL value of approximately EUR 15 million and REO value of approximately EUR 14 million. The transaction is not expected to give rise to any goodwill. No material external transaction costs were incurred in connection with the acquisition. The initial accounting for the acquisition is incomplete as of 30 September 2026. The fair values of acquired assets and liabilities remain provisional and may be adjusted during the measurement period in accordance with IFRS 3. If the acquisition had been completed at the beginning of the financial year it would have contributed with approximately EUR 5 million in additional revenue and approximately EUR 2,5 million in additional net profit year-to- date. From the date of acquisition the contribution amounts to approximately EUR 5 million in revenue.
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B2 Impact –27 The interim financial information of the Group has been prepared in accordance with International Financial Reporting Standards (IFRS® Accounting Standards) and interpretations issued by the IFRS Interpretations Committee (IFRS IC) applicable to companies reporting under IFRS. The Group presents alternative performance measures (APMs) which do not have any standardised meaning prescribed by IFRS and therefore are unlikely to be comparable to the calculation of similar measures used by other companies. M M k ’ G ’ performance and to enhance comparability between financial periods. The APMs are reported in addition to but are not substitutes for the financial statements prepared in accordance with IFRS. The APMs provide a basis to evaluate operating profitability and performance trends, excluding the impact of items which in the opinion of Management, distort the evaluation of the performance of the operations. The APMs also provide G ’ valuation metric of debt purchasing companies. Furthermore, APMs are also relevant when assessing the ability to incur and service debt. APMs are defined consistently over time and are based on the financial data presented in accordance with IFRS. Third quarter 2026 report Alternative performance measures Highlights Investments Financials Corporate Matters Financial Report
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B2 Impact –28 Alternative performance measures - reconciliation k k k k k k k Third quarter 2026 report Highlights Investments Financials Corporate Matters Financial Report All figures in NOK million unless otherwise stated
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B2 Impact –29 Alternative performance measures - reconciliation Third quarter 2026 report Highlights Investments Financials Corporate Matters Financial Report All figures in NOK million unless otherwise stated
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B2 Impact –30 Total Loan to Value is a financial covenant in the RCF agreement and is calculated accordingly. M 1. Bond loans and Revolving Credit Facility (RCF) are measured at nominal value according to the definitions of the financial covenants. In the condensed consolidated statement of financial position this is included in "Non-current interest bearing loans and borrowings" and "Current interest bearing loans and borrowings", with bonds measured at amortised cost and RCF at linear cost. 2. Included in "Good ill", “Other non-current financial assets" and “Repossessed assets" in the condensed consolidated statement of financial position. Third quarter 2026 report Highlights Investments Financials Corporate Matters Financial Report All figures in NOK million unless otherwise stated Total Loan to Value Alternative performance measures - reconciliation
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B2 Impact – Definitions Third quarter 2026 report Actualisation The difference between actual and forecasted collections for purchased loan portfolios for the reporting period. Adjusted EBIT (Adj. EBIT) Consists of Operating profit/(loss) (EBIT) adjusted for non-recurring items. Adjusted EBIT % (Adj. EBIT %) Adjusted EBIT expressed as a percentage of revenue excluding Non-recurring items. Adjusted EPS (Adj. EPS) Calculated based on Adjusted Net profit (Adj. Net profit) for the period divided by the weighted average number of outstanding shares during the respective period. Adjusted return on equity (Adj. ROE) Calculated as the rolling 12 month adjusted net profit divided by equity at the end of the last quarter with dividend payments, reflecting 100% dividend distribution. Adjusted Net profit (Adj. Net profit) Consists of Profit/(loss) after tax adjusted for Non-recurring items reduced by the tax rate for the period. Central costs Administration and management cost related to Head Office and other Group costs such as Investment Office. Amortisation The amount of the collections that are used to reduce the book value of the purchased portfolios. Cash collections Include unsecured collections, secured cash collections, cash received from SPVs and joint ventures, and REO sales proceeds. Cash EBITDA Consists of EBIT added back Amortisation and Revaluation of purchased loan portfolios, Depreciation and amortisation and Impairment of tangible and intangible assets and Cost of assets sold, adjusted for Repossession of assets and the difference between cash received and recognised Profit from shares in associated parties/joint ventures and participation loan/notes. Cash EBITDA is a measure of actual performance from the collection business (cash business) and other business areas. Cash EBITDA is adjusted for Non-recurring items. Cash margin Consists of Cash EBITDA expressed as a percentage of cash revenue. Cash revenue Consists of revenue added back Amortisation and Revaluation of purchased loan portfolios and Cost of assets sold and adjusted for Repossession of assets and the difference between cash received and recognised Profit from shares in associated parties/joint ventures and participation loan/notes. Cash revenue is a measure of actual revenues (cash business) from the collection business and other business areas. Cash revenue is adjusted for Non-recurring items. Collections The actual cash collected and assets recovered from purchased portfolios. EBITDA Consists of operating profit (EBIT) adding back depreciation, amortisation and impairment of tangible and intangible assets. Equity ratio Total equity divided by total assets. Estimated Remaining Collections (ERC) Expresses the collections in nominal values expected to be collected in the future from the purchased loan portfolios G ’ Forward flow agreements Agreements where the Group agrees with the portfolio provider that it will, over some period in fixed intervals, transfer its non-performing loans of a certain characteristics to the Group. Interest income from loan receivables The calculated amortised cost interest revenue from the loan receivable using the original effective interest rate. Interest income from purchased portfolios The calculated amortised cost interest revenue from the purchased loan portfolios using the credit-adjusted effective interest rates set at initial acquisition. Liquidity reserve Un-drawn RCF, plus cash and short-term deposits and minus NOK 200m in cash reserve. 31
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B2 Impact –32 Definitions continued Operating expenses (Opex) Consists of external expenses of services provided, personnel expenses and other operating expenses. Net debt Consists of nominal value of interest-bearing loans and borrowings plus utilised bank overdraft less cash and short-term deposits. Net interest-bearing debt Consists of carrying value of interest-bearing loans and borrowings plus utilised bank overdraft less cash and short-term deposits. Net credit gain/(loss) from purchased loan portfolios The Group's exposure to credit risk from the purchased loan portfolios is related to actual collections deviating from collections estimates and from changes in future collections estimates. The Group regularly evaluates the current collections estimates at the individual portfolio level and the estimate is adjusted if collections are determined to deviate from current estimate over time. The adjusted collections estimate is discounted by the initial rate of return at acquisition of the portfolio. Changes from current estimate adjust the book value of the portfolio and are included in the profit and loss statement in the line item "Net credit gain/(loss) from purchased loan portfolios". Collections above collections estimates and upward adjustments of future collections estimates increase revenue. Collections below collections estimates and downward adjustments of future collections estimates decrease revenue. Net credit gain/(loss) equals net actualisation/revaluation. Non-recurring items G ’ predict and are considered to have low forecast value for the future earnings trend. Non-recurring items may include but are not limited to restructuring costs, acquisition and divestment costs, advisory costs for discontinued acquisition projects, integration costs, termination costs for Group Management and country managers, non-portfolio related write offs, unusual legal expenses, extraordinary projects, and material income or expenses relating to prior years. Operating cash flow per share Operating cash flow from consolidated statement of cash flows divided on the weighted average number of shares outstanding in the reporting period. Operating cash flow per share is a measure on actual cash earned from operating business per share. Other cash revenues Consist of Other revenues added back Cost of assets sold Other revenues Include revenue from external collections, as well as subscription income for credit information, telemarketing and other services which is recognised proportionately over the term of the underlying service contract which is usually one year. Other revenues include Interest income from loan receivables and Net credit gain/(loss) from loan receivables. Portfolio investments The investments for the period in unsecured (without collateral) and in secured (with collateral) loan portfolios. Profit margin Consists of operating profit (EBIT) expressed as a percentage of total operating revenues. Revaluation T ’ forecasts of future collections. Repossessed assets (REOs) In connection with the acquisition and collection of purchased loan portfolios, the Group may become owner of assets such as land, buildings, or other physical goods. These assets are only acquired as part of the collection strategy for the G ’ maximise the value of collections. Such assets are classified as inventories and recognised in the balance sheet at the lower of cost and net realisable value in accordance with IAS 2 Inventories. Total Loan to Value (TLTV) Net debt adjusted for vendor loan, earn out and FX hedge MTM over assets (portfolio, JV, loan receivables, real estate owned and goodwill). Third quarter 2026 report
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B2 Impact Cort Adelers gate 30, 7th floor 0254 Oslo, Norway +47 22 83 39 50 post@b2-impact.com