Interim report
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Interim report Third quarter 2026
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Third quarter 9 months Rolling 12 months Full year SEK m, unless otherwise indicated Jul–Sep 2026 Jul–Sep 2025 Change% Jan–Sep 2026 Jan–Sep 2025 Change% 2026 2025 Unadjusted accounting metrics Total income 3,820 4,056 -6 11,627 12,537 -7 16,120 17,030 Total costs -4,512 -4,733 -5 -10,434 -11,114 -6 -16,467 -17,147 EBIT -266 -583 -54 2,364 1,775 33 1,024 435 Net income/loss1 -1,487 396 n/a -1,681 820 n/a -3,930 -1,429 Earnings/loss per share, SEK2 -0.47 3.00 n/a -1.45 6.59 n/a -3.38 -11.25 Adjusted accounting metrics Adjusted EBIT 976 1,234 -21 3,628 3,718 -2 5,255 5,345 Servicing KPIs Servicing leverage ratio 4.5x 5.7x Adjusted servicing EBIT margin, % 24 22 2 23 23 0 25 25 Other Items affecting comparability 1,242 1,818 -32 1,264 1,944 -35 4,231 4,910 1) Amounts attributable to the Parent’s shareholders. 2) Earnings/loss per share is not comparable to prior periods due to share issue completed in Q3 2026. Refer to the Condensed consolidated statement of income for additional details. • Capital raise, asset sale and good cost control takes the Servicing leverage ratio to 4.5x, compared to 5.7x at year end 2025. • Negative External servicing income trend from the first half of 2026 continues, leading to goodwill impairment of SEK 1.5bn in Germany. Operational excellence programme accelerated. • Investment pace increased while returns remained high. SEK 617m was invested in the quarter at a 17 percent blended IRR. Third quarter 2026 summary Total income, SEK m 3,820 EBIT, SEK m -266 Earnings per share, SEK -0.47 Servicing leverage ratio, RTM 4.5x Q3 in brief 2 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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“Three quarters into our Intrum 2030 strategy, we are making progress on our first priority: reducing leverage” Johan Åkerblom, President and CEO Comment by the President and CEO Balance sheet strengthened, Servicing income still under pressure and Investing volumes increased Three quarters into our Intrum 2030 strategy, we are making progress on our first priority: reducing leverage. During the quarter, we completed the balance sheet steps we set out this year: a SEK 7.5bn capital raise and a portfolio sale to Brocc, which generated SEK 2.5bn in cash. Together, these transactions reduced our borrowings materially and brought the Servicing leverage ratio down to 4.5x, from 5.7x at the end of last year. At the same time, Servicing income remained under pressure, and we now expect full-year External servicing income to be lower than in 2025. With those balance sheet steps behind us, further deleveraging will need to come from operational improvements. In Servicing, income declined in the quarter, continuing the trend seen in the first six months of this year. The weakness was concentrated in our Specialised markets, driven by continued run-off in Greece and Spain. The headwinds are known, but our performance in the UK has not yet improved. Our Traditional markets grew at a low single-digit rate; however Germany’s negative trend remained, and overall growth was not enough to offset the decline in the Specialised markets. We recorded a goodwill impairment of SEK 1.5bn due to underperformance in Germany. This is not where we want Servicing to be. Over the past twelve months, we have strengthened sales leadership in eight markets, including a new Managing Director 3 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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in the UK and a new commercial lead in Germany who starts in November. We have also increased new sales capacity by 30 percent and introduced a more structured approach to commercial performance. These measures are intended to sharpen our commercial execution and support growth over time. Commercial activity continued during the quarter, with new business won and churn remaining low. At the same time, we have launched Ophelos, our AI-native platform, in France and Portugal, and UK to be launched in Q4. In response to the weaker income development, we accelerated our Operational Excellence programme during the quarter. The programme has now been initiated in 17 countries, compared with the seven we had planned for 2026, and the ramp-up of impact is expected next year. A number of targeted initiatives in automation and AI are already live, and we are gradually scaling them to improve productivity. We have also continued to reduce the size of the organisation. The programme has led to extra costs for adjustments, reported as items affecting comparability, and we expect additional costs in the fourth quarter. The plan we are working on, which will be finalised during the fourth quarter, is expected to allow total costs to approach SEK 11bn in 2027. Cost reductions alone will not be sufficient to offset the decline in income; Servicing income needs to stabilise, and we need to continue boosting our commercial initiatives in parallel. In Investing, investment volumes increased following the capital raise, bringing year-to-date investments to SEK 1.2bn, which is already in line with the level for the full year 2025. Volumes with our capital partner have also increased. We have maintained pricing discipline, investing at a blended IRR of 17 percent in the quarter, compared with 18 percent a year ago. Over time, our aim is to invest at a level that replenishes the book, while maintaining our return requirements. Collections were in line with active forecast. Investing earnings were lower than last year, reflecting a smaller investment book and a reduced contribution from joint ventures. Our main objective is to continue to deleverage, which requires lower costs, better cash generation and External servicing growth. These are the priorities for the whole organisation in the coming quarters. There is more to do, and our focus is on execution. Stockholm, October 2026 Johan Åkerblom President and CEO “In Investing, our aim over time is to invest at a level that replenishes the book, while maintaining our return requirements.” 4 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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Quarterly development Total income amounted to SEK 3,820m (4,056) in the third quarter. The decline of six percent was primarily driven by lower Servicing fee income, which decreased by seven percent, with an organic decline of six percent. Interest income decreased by three percent following a lower investment book, and other income was slightly lower at SEK 256m (263). Result from shares of associates and joint ventures amounted to SEK -1m (102). The sale of share of associate, which was sold to Brocc, is reported separately on the line Gain on disposal of associates and joint ventures, which includes a gain of SEK 430m. Total operating costs amounted to SEK -4,512m (-4,733). The quarter included a goodwill impairment of SEK -1,517m attributable to the continued losses forecast in Germany. In the prior year, goodwill was impaired by SEK -1,009m and other intangible assets by SEK -591m. Adjusted for items affecting comparability, operating costs amounted to SEK -2,831m, a decrease of three percent. Personnel expenses declined by nine percent, with continued FTE reductions from 8,580 to 7,999, and IT expenses decreased by seven percent. Legal costs were SEK 103m higher than in the third quarter of 2025, related to Savoy Group, which has been fully consolidated since 31 March 2026, and the comparative period therefore did not include these costs. EBIT improved to SEK -266m (-583), impacted by the goodwill impairment. Adjusted EBIT decreased by 21 percent to SEK 976m (1,234), driven by lower income and a lower result from associates and joint ventures, partly offset by lower costs. For the first nine months, EBIT amounted to SEK 2,364m (1,775). Depreciation, amortisation and impairment amounted to SEK -1,717m (-1,865), where the quarter included the goodwill impairment of SEK -1,517m (-1,009). Depreciation and amortisation, excluding the impair - ments, amounted to SEK -200m (-265). Net financial expenses amounted to SEK -948m (1,473). Interest costs decreased by seven percent to SEK -818m (-884), reflecting lower borrowings at SEK 39,459m (51,487). FX effects were positive at SEK 227m (287). Amortisation of borrowing costs amounted to SEK -236m (-309), which included a SEK -111m one-off relating to the redemption of the New Money Notes. Other financial items in Q3 2026 were SEK -129m (2,915), including costs for the bond buyback of SEK -82m. Items affecting comparability (IAC) amounted to SEK 1,242m (1,818), mostly due to the goodwill impairment of SEK 1,517m, partly offset by the gain on the sale of associate of SEK -430m, and including the Operational Excellence Programme of SEK 102m. The servicing leverage ratio decreased to 4.5x compared to 5.7x at the end of last year, reflecting lower net debt following the capital raise and the sale of associate completed in July, partly offset by lower Servicing EBITDA. Key financial metrics Financial targets 25% 25% Year end 2025 Target 2030 30–35%Servicing EBIT margin Current Rolling 12 months 20261 Current Rolling 12 months 20261 Target 2030 Total costs Servicing leverage ratio 4.5x 5.7x Current Rolling 12 months 20261 Year end 2025 Year end 2025 Target 2028 3.0x 1) The target is on an unadjusted basis, while 2025 and the current RTM figure is adjusted for IACs. SEK 11.8 bn SEK 10–11 bn SEK 12.3 bn 5 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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Segment overview Key figures third quarter Third quarter, Jul–Sep 2026 Third quarter, Jul–Sep 2025 SEK m Servicing Investing Central Eliminations Consolidated Servicing Investing Central Eliminations Consolidated External income 2,743 1,075 2 - 3,820 2,916 1,127 13 - 4,056 Internal income 356 0 185 -541 - 387 0 20 -407 - Income 3,099 1,075 187 -541 3,820 3,302 1,127 33 -407 4,056 Share of results from associates and joint ventures 19 -20 - - -1 14 88 0 - 102 Gain on disposal of associates and joint ventures - 430 - - 430 - - - - - Personnel expenses -1,284 -16 -153 - -1,454 -1,330 -13 -247 - -1,590 Other operating costs -1,046 -626 -210 541 -1,341 -1,075 -569 -40 407 -1,278 Depreciation and amortisation of intangible and tangible assets1 -1,693 -2 -22 - -1,717 -1,774 -2 -89 - -1,865 Total costs -4,023 -645 -385 541 -4,512 -4,179 -584 -377 407 -4,733 Net credit gains/losses - -3 - - -3 - -8 - - -8 EBIT -906 838 -198 - -266 -863 623 -344 - -583 Items affecting comparability in EBIT2 1,658 -430 14 - 1,242 1,605 1 211 - 1,818 Adjusted EBIT 752 408 -184 - 976 742 625 -132 - 1,234 Cost to income (C/I) ratio, % 130 60 - - 118 127 52 - - 117 1) Impairment of goodwill is included at SEK 1,517m for Jul-Sep 2026 and SEK 1,009m for Jul-Sep 2025. 2) Refer to page 10 for details on Items affecting comparability. 6 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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Key figures 9 months 9 months, Jan–Sep 2026 9 months, Jan–Sep 2025 SEK m Servicing Investing Central Eliminations Consolidated Servicing Investing Central Eliminations Consolidated External income 8,358 3,261 8 - 11,627 8,922 3,591 24 - 12,537 Internal income 1,063 - 546 -1,609 - 1,176 1 59 -1,236 - Income 9,421 3,261 554 -1,609 11,627 10,097 3,592 84 -1,236 12,537 Share of results from associates and joint ventures 69 161 - - 230 44 321 0 - 365 Gain on disposal of associates and joint ventures - 430 - - 430 - - - - - Personnel expenses -3,829 -56 -478 - -4,362 -4,154 -38 -687 - -4,878 Other operating costs -3,139 -1,835 -604 1,609 -3,968 -3,098 -1,879 -85 1,236 -3,826 Depreciation and amortisation of intangible and tangible assets1 -2,033 -6 -64 - -2,103 -2,266 -6 -137 - -2,409 Total costs -9,001 -1,897 -1,146 1,609 -10,434 -9,518 -1,922 -909 1,236 -11,114 Net credit gains/losses - 511 - - 511 - -14 - - -14 EBIT 489 2,466 -591 - 2,364 623 1,976 -825 - 1,775 Items affecting comparability in EBIT2 1,680 -430 14 - 1,264 1,685 22 236 - 1,944 Adjusted EBIT 2,169 2,036 -577 - 3,628 2,309 1,999 -589 - 3,718 Cost to income (C/I) ratio, % 96 58 - - 90 94 54 - - 89 1) Impairment of goodwill is included at SEK 1,517m for Jan-Sep 2026 and SEK 1,009m for Jan-Sep 2025. 2) Refer to page 10 for details on Items affecting comparability. 7 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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Servicing 8 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum Credit management with a focus on solutions for late payments and collections for our external customers External income amounted to SEK 2,743m (2,916), with an organic decline of six percent. The trend from the first half of 2026 continued with organic decline driven by the specialised markets, while our traditional markets combined had low single-digit growth. The adjusted costs continued to decline and amounted to SEK 2,357m (2,574), representing an organic decline of nine percent. The Specialised markets accounted for a relatively larger decline of costs. Total costs amounted to SEK 4,023m (4,179), representing a decline of 4 percent. The total costs are impacted by impairments of intangible assets in both comparison periods. Adjusted EBIT amounted to SEK 752m (742), representing an increase of one percent, driven by declining costs, partly offset by lower income. The adjusted EBIT margin increased with two percentage points and reached 24 percent (22). EBIT amounted to SEK -906m (-863), representing a decline of 5 percent. EBIT is impacted by impairments of intangible assets in both comparison periods. Third quarter 9 months Full year SEK m Jul–Sep 2026 Jul–Sep 2025 Change % Jan–Sep 2026 Jan–Sep 2025 Change % 2025 External income 2,743 2,916 -6 8,358 8,922 -6 12,270 Internal income 356 387 -8 1,063 1,176 -10 1,560 Income 3,099 3,302 -6 9,421 10,097 -7 13,830 Share of results from associates and joint ventures 19 14 36 69 44 55 69 Personnel expenses -1,284 -1,330 -3 -3,829 -4,154 -8 -5,454 Other operating costs -1,046 -1,075 -3 -3,139 -3,098 1 -4,240 Depreciation and amortisation of intangible and tangible assets1 -1,693 -1,774 -5 -2,033 -2,266 -10 -5,392 Total costs -4,023 -4,179 -4 -9,001 -9,518 -5 -15,087 EBIT -906 -863 5 489 623 -22 -1,188 Items affecting comparability in EBIT 1,658 1,605 3 1,680 1,685 0 4,669 Adjusted EBIT 752 742 1 2,169 2,309 -6 3,481 KPIs Change in external income, % -6 0 -6 -6 -3 -3 -3 – thereof organic development -6 3 -9 -4 -2 -2 - – thereof effect from full consolidation of Savoy Group -1 - -1 -1 - -1 - – thereof foreign exchange 1 -3 4 -1 -2 1 -3 Servicing EBIT margin, % -29 -26 -3 5 6 -1 -9 Adjusted Servicing EBIT margin, % 24 22 2 23 23 0 25 Servicing EBITDA 787 911 -14 2,522 2,890 -13 4,205 Cash flow from associates and joint ventures 0 0 n/a 37 19 94 38 1) Impairment of goodwill is included at SEK 1,517m for Q3 2026, SEK 1,009m for Q3 2025 and SEK 3,951m for the full year 2025.
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Investing 9 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum Intrum invests in portfolios of overdue receivables and similar claims, after which Intrum’s Servicing business collects on the claims acquired Income amounted to SEK 1,075m (1,127), with an organic decline of six percent. The organic decline amounted to twelve percent, excluding effects from the consolidation of Savoy group. The decline is a natural consequence of the shrinking investment book. Adjusted EBIT amounted to SEK 408m (625) in the quarter, a decline of 35 percent, with all markets contributing. EBIT amounted to SEK 838m (623), driven by the gain on the sale of Intrum’s remaining 35 percent holding in an associate, which was sold above book value. Collection performance came in at 100 percent (101) of active forecast for the quarter. During the period, Intrum invested SEK 617m (303) at an IRR of 17 percent (18). As expected, following the capital raise, the investment volume increased compared to the level during the last quarters. Book value for portfolio investments continued to decrease and ended at SEK 23,650m (26,338), this was mainly driven by the sale of the associate. Investment volume in the quarter was closer to replenishment level than in recent quarters, which slowed the pace of decline in book value. Third quarter 9 months Full year SEK m Jul–Sep 2026 Jul–Sep 2025 Change % Jan–Sep 2026 Jan–Sep 2025 Change % 2025 Income 1,075 1,127 -5 3,261 3,592 -9 4,717 – thereof REOs 38 43 -13 119 126 -6 171 Share of results from associates and joint ventures -20 88 n/a 161 321 -50 463 Gain on disposal of associates and joint ventures 430 - n/a 430 - n/a - Personnel expenses -16 -13 24 -56 -38 48 -50 Other operating costs -626 -569 10 -1,835 -1,879 -2 -2,458 Depreciation and amortisation of intangible and tangible assets -2 -2 9 -6 -6 9 -7 Total costs -645 -584 10 -1,897 -1,922 -1 -2,515 Net credit gains/losses -3 -8 -66 511 -14 n/a 19 EBIT 838 623 34 2,466 1,976 25 2,684 Items affecting comparability in EBIT -430 1 n/a -430 22 n/a 23 Adjusted EBIT 408 625 -35 2,036 1,999 2 2,707 – thereof REOs -11 4 n/a -46 9 n/a 10 KPIs Gross collections 1,895 1,793 6 5,520 5,727 -4 7,501 Amortisation, % 45 39 6 43 39 4 39 Portfolio investments incl. associates and joint ventures 617 303 n/a 1,158 715 62 1,151 Collection index vs active forecast, % 100 101 -1 100 103 -3 103 IRR new investments, % 17 18 -1 18 20 -2 18 Cash flow from associates and joint ventures 19 81 -76 124 200 -38 245 Book value portfolio investment1 23,650 26,338 -10 23,650 26,338 -10 25,336 ERC 45,459 47,052 -3 45,459 47,052 -3 45,646 1) Comparative periods have been re-calculated to reflect full consolidation of Savoy group.
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Financial overview Net debt reconciliation1 SEK m 30 Sep 2026 30 Sep 2025 31 Dec 2025 Borrowings 39,459 51,487 47,591 Lease liability 549 601 602 Deferred liabilities 123 399 359 Gross debt 40,131 52,487 48,552 Cash and cash equivalents -2,938 -5,416 -3,094 Net debt 37,192 47,071 45,459 Book value portfolio investment 23,650 26,338 25,336 Investing share of net debt² 18,920 21,071 20,269 Net debt 37,192 47,071 45,459 Investing share of net debt² -18,920 -21,071 -20,269 Servicing share of net debt 18,272 26,000 25,190 Servicing leverage ratio Third quarter 9 months Rolling 12 months Full year SEK m Jul–Sep 2026 Jul–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 2026 2025 Servicing EBIT -906 -863 489 623 -1,322 -1,188 Depreciation and amortisation3 1,693 1,774 2,033 2,266 5,159 5,392 Servicing EBITDA 787 911 2,522 2,890 3,837 4,205 IAC in Servicing 140 70 163 150 208 195 Servicing leverage ratio 4.5x 5.7x Items affecting comparability Third quarter 9 months Rolling 12 months Full year SEK m Jul–Sep 2026 Jul–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 2026 2025 EBIT -266 -583 2,364 1,775 1,024 435 Goodwill impairment 1,517 1,009 1,517 1,009 4,459 3,951 Impairments other intangible assets - 591 - 591 -3 588 Gain on disposal of associates and joint ventures -430 - -430 - -430 - Other4 155 218 177 343 205 371 Total items affecting comparability 1,242 1,818 1,264 1,944 4,231 4,910 Adjusted EBIT 976 1,234 3,628 3,718 5,255 5,345 1) Comparative periods have been re-calculated to reflect full consolidation of Savoy group. 2) 80 percent of the book value of portfolio investment. 3) Impairment of goodwill is included at SEK 1,517 m for Q3 2026 and SEK 1,009m for Q3 2025 and SEK 3,951m for the full year 2025. 4) For further information on Items Affecting Comparability, see the definition on page 24. Net financial items specifications Third quarter 9 months Rolling 12 months Full year SEK m Jul–Sep 2026 Jul–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 2026 2025 Interest income 26 23 45 76 83 114 Interest costs -818 -884 -2,604 -2,246 -3,580 -3,222 Interest cost on leasing liability -12 -13 -39 -46 -53 -60 Exchange rate differences 227 287 74 210 670 806 Amortisation of borrowing costs -236 -309 -515 -359 -627 -471 Commitment fee -5 -547 -7 -546 -7 -546 Other financial items1 -129 2,915 -100 2,903 183 3,186 Total net financial expense -948 1,473 -3,145 -7 -3,331 -193 1) Other financial items in Q3 2025 were positively impacted by a gain of SEK 2,310m related to the recapitalisation. 10 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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Yearly Group overview SEK m 2025 2024 2023 2022 2021 Total income 17,030 18,033 17,705 19,368 17,655 Total costs -17,147 -16,530 -15,284 -14,108 -11,605 EBIT 435 1,941 2,776 154 6,475 Net income/loss1 -1,429 -3,697 -187 -4,473 3,127 Earnings per share, SEK -11.25 -30.67 -1.56 -37.07 28.88 Adjusted EBIT 5,345 4,548 4,464 6,664 7,014 Adjusted net income/loss1 3,242 -1,353 1,079 410 3,531 Equity per share, SEK 80.27 111.01 138.89 153.68 183.33 Average number of employees (FTEs) 8,772 10,002 10,222 9,965 9,694 1) Amounts attributable to Parent company’s shareholders Quarterly overview, Group SEK m Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Total income 3,820 4,053 3,754 4,493 4,056 4,206 4,276 4,825 Total costs -4,512 -2,999 -2,922 -6,033 -4,733 -3,058 -3,322 -4,395 EBIT -266 1,137 1,493 -1,340 -583 1,326 1,032 570 Net Income/loss1 -1,487 178 -371 -2,249 396 324 101 -914 Earnings per share, SEK -0.47 1.32 -2.75 -16.68 3.00 2.69 0.83 -7.56 Adjusted EBIT 976 1,151 1,502 1,626 1,234 1,386 1,098 1,693 Adjusted net income/loss1 -177 188 -365 711 2,011 369 150 -45 Equity per share, SEK 6.06 98.75 99.03 80.27 104.17 105.56 99.08 111.01 Number of employees (FTEs) 7,999 8,149 8,267 8,381 8,580 8,855 9,042 9,354 1) Amounts attributable to Parent company’s shareholders. Group overview Segment overview Servicing SEK m Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 20241 External income 2,743 2,878 2,737 3,348 2,916 2,979 3,028 3,466 Internal income 356 371 336 385 387 422 367 414 Income 3,099 3,249 3,073 3,732 3,302 3,400 3,395 3,880 Total costs -4,023 -2,522 -2,456 -5,568 -4,179 -2,617 -2,722 -3,366 EBIT -906 747 647 -1,811 -863 798 689 521 Adjusted EBIT 752 761 656 1,173 742 837 729 1,140 Adjusted EBIT Margin, % 24 23 21 31 22 25 21 29 1) 2024 numbers have been restated to reallocate certain income and costs previously reported as Central to Servicing. No impact on consolidated numbers. Investing SEK m Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 20241 Income 1,075 1,172 1,013 1,125 1,127 1,222 1,243 1,350 Total costs -645 -662 -590 -593 -584 -608 -730 -699 EBIT 838 575 1,054 708 623 777 576 783 Adjusted EBIT 408 575 1,054 708 625 777 597 824 Portfolio Investments incl. associates and joint ventures 617 197 345 436 303 140 272 512 ERC 45,459 48,468 49,231 45,646 47,052 48,319 50,729 53,067 IRR, % 17 19 19 18 18 19 24 20 1) 2024 numbers have been restated to reallocate certain income and costs previously reported as Central to Investing. No impact on consolidated numbers. 11 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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Third quarter 9 months Full year SEK m Note Jul–Sep 2026 Jul–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 2025 Servicing fee income 2,602 2,801 7,873 8,540 11,653 Interest income 963 991 2,916 3,189 4,187 Other income 256 263 838 809 1,190 Total income 3,820 4,056 11,627 12,537 17,030 Share of results from associates and joint ventures -1 102 230 365 532 Gain on disposal of associates and joint ventures 430 - 430 - - Personnel expenses -1,454 -1,590 -4,362 -4,878 -6,373 Other operating costs 4 -1,341 -1,278 -3,968 -3,826 -5,216 Depreciation and amortisation of intangible and tangible assets -200 -265 -586 -809 -1,018 Impairment of intangible and tangible assets 6 -1,517 -1,600 -1,517 -1,600 -4,539 Net credit gains/losses -3 -8 511 -14 19 Net operating income (EBIT) -266 -583 2,364 1,775 435 Net financial expense -948 1,473 -3,145 -7 -193 Income before taxes -1,214 889 -781 1,768 242 Tax expenses 5 -189 -485 -653 -787 -1,314 Net income/loss from continuing operations -1,403 404 -1,434 981 -1,072 Net income/loss for the period -1,403 404 -1,434 981 -1,072 Financial reports Third quarter 9 months Full year SEK m Note Jul–Sep 2026 Jul–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 2025 Attributable to shareholders: The Parent's shareholders in Intrum AB (publ) -1,487 396 -1,681 820 -1,429 Non-controlling interest 84 8 246 160 356 Total net income/loss for the period -1,403 404 -1,434 981 -1,072 Average number of shares (‘000): Basic and Diluted 3,180,680 131,921 1,161,503 124,416 127,040 Net income/loss per share, SEK1: Basic and Diluted -0.47 3.00 -1.45 6.59 -11.25 1) Earnings/loss per share is not comparable to prior periods due to share issue completed in Q3 2026. Condensed consolidated statement of income 12 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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Third quarter 9 months Full year SEK m Jul–Sep 2026 Jul–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 2025 Net income/loss from continuing operations -1,403 404 -1,434 981 -1,072 Items subsequently reclassified to statement of income Net foreign exchange translation differences 853 -233 2,721 -1,523 -2,150 Net investment hedging gains/losses and other -427 -69 -766 84 -45 Items subsequently reclassified to statement of income 425 -302 1,955 -1,439 -2,195 Items not subsequently reclassified to statement of income Net defined pension benefit remeasurement 0 - 0 -1 12 Items not subsequently reclassified to statement of income 0 - 0 -1 12 Other comprehensive income/loss for the period 425 -302 1,955 -1,440 -2,184 Total comprehensive income from continuing operations -978 102 521 -459 -3,256 Total comprehensive income/loss for the period -978 102 521 -459 -3,256 Of which attributable to: The Parent’s shareholders in Intrum AB (publ) -1,109 111 174 -546 -3,489 Non-controlling interest 131 -9 347 87 233 Total comprehensive income/loss for the period -978 102 521 -459 -3,256 Average number of shares (‘000): Basic and Diluted 3,180,680 131,921 1,161,503 124,416 127,040 Total comprehensive income/loss per share, SEK: Basic and Diluted -0.35 0.84 0.15 -4.39 -27.46 Consolidated statement of other comprehensive income 13 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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Consolidated statement of financial position SEK m Note 30 Sep 2026 30 Sep 2025 31 Dec 2025 ASSETS Non-current assets Intangible assets 6 32,295 35,931 32,226 Portfolio investments 22,832 19,943 19,248 Investment in associates and joint ventures 462 2,354 2,534 Property, plant and equipment 139 170 154 Right-of-use assets 522 574 573 Deferred tax assets 1,250 1,412 1,394 Other financial assets 127 137 136 Total non-current assets 57,627 60,522 56,266 Current assets Property holdings 453 213 182 Tax receivable 467 787 333 Derivatives 6 - - Receivables and other operating assets 4,867 5,007 4,870 Fiduciary assets 1,330 1,275 1,244 Cash and cash equivalents 2,938 5,003 2,574 Total current assets 10,062 12,286 9,202 TOTAL ASSETS 67,688 72,809 65,468 SEK m Note 30 Sep 2026 30 Sep 2025 31 Dec 2025 EQUITY AND LIABILITIES Shareholders' equity Share capital 76 3 3 Reserves 31,969 20,806 20,875 Retained earnings -12,766 -7,066 -10,027 Total shareholders' equity 19,279 13,743 10,851 Non-controlling interest 1,840 1,768 1,924 TOTAL EQUITY 21,119 15,511 12,775 LIABILITIES Non-current liabilities Net pension benefit liability 50 95 48 Borrowings 7 35,437 45,686 43,113 Other financial liabilities 512 353 256 Provisions 154 168 162 Deferred tax liability 895 990 902 Lease liability 396 433 432 Total non-current liabilities 37,445 47,725 44,913 Current liabilities Borrowings 7 2,427 995 271 Tax payable 415 543 661 Payables and other operating liabilities 4,582 6,493 5,264 Derivatives 3 - - Fiduciary liabilities 1,330 1,275 1,244 Provisions 214 98 171 Lease liability 153 168 171 Total current liabilities 9,124 9,572 7,781 TOTAL LIABILITIES 46,569 57,298 52,693 TOTAL EQUITY AND LIABILITIES 67,688 72,809 65,468 14 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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Consolidated statement of changes in Equity SEK m Share capital Other paid-in capital Reserves Retained earnings incl. net earnings for the year Total Shareholders’ equity attributable to Parent Company Shareholders Non-controlling interests Total equity As at 1 January, 20261 3 18,390 4,757 -12,299 10,851 1,924 12,775 Comprehensive income/loss for the year Net income/loss for the year -1,681 -1,681 246 -1,434 Other comprehensive income for the year - Net defined benefit remeasurements 0 - 0 - 0 Foreign exchange differences 2,621 - 2,621 100 2,721 Net investment hedging differences -766 - -766 - -766 Total other comprehensive income - - 1,855 - 1,855 100 1,956 Total comprehensive income for the year - - 1,855 -1,681 174 347 521 New shares issued 73 6,967 7,040 - 7,040 Share dividend - -431 -431 Effect of change in consolidation method2 1,215 1,215 - 1,215 Closing balance, 30 Sep 2026 76 25,357 6,612 -12,766 19,279 1,840 21,119 As at 1 January, 2025 3 17,442 6,299 -10,356 13,388 2,079 15,467 Comprehensive income/loss for the year Net income/loss for the year 820 820 160 981 Other comprehensive income for the year - Net defined benefit remeasurements - - - -1 -1 -0 -1 Foreign exchange differences - - -1,450 - -1,450 -73 -1,523 Net investment hedging differences - - 84 - 84 - 84 Total other comprehensive income - - -1,366 -1 -1,367 -73 -1,440 Total comprehensive income for the year - - -1,366 820 -546 87 -459 New shares issued 0 901 901 901 Share dividend - - - - - -336 -336 NCI share repurchases - -61 -61 Closing balance, 30 Sep 2025 3 18,343 4,933 -9,537 13,743 1,769 15,511 1) Compared with the closing balance as of December 2025, SEK 525m has been reclassified from retained earnings to reserves in the opening balance as of January 2026, total equity remains unchanged. 2) Impact from the full consolidation of the Savoy group. Refer to Note 3 for further information. 15 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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Consolidated statement of cash flow Third quarter 9 months Full year SEK m Jul–Sep 2026 Jul–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 2025 Cash flows from operating activities Net operating income (EBIT) from continuing operations -266 -583 2,364 1,775 435 Net operating income (EBIT) -266 -583 2,364 1,775 435 Not included in the cash flow Depreciation, amortisation and impairment 1,717 1,865 2,103 2,409 5,557 Net credit gains/losses 3 8 -511 14 -19 Amortisation of portfolio investments 869 723 2,412 2,297 3,004 Other adjustment for items not included in cash flow -512 105 -801 -303 -339 Non-cash adjustments 2,076 2,701 3,203 4,417 8,203 Dividends received from associates and joint ventures 20 81 161 219 282 Operating cash flows before working capital changes 1,829 2,198 5,728 6,411 8,920 Changes in working capital -246 428 -268 358 190 Operating cash flows before taxes 1,583 2,626 5,460 6,769 9,110 Income taxes paid -238 -206 -699 -449 -525 Net cash flows from operating activities 1,346 2,420 4,761 6,320 8,585 Third quarter 9 months Full year SEK m Jul–Sep 2026 Jul–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 2025 Cash flow from investing activities Acquisition of portfolio investments -603 -386 -948 -739 -1,706 Disposal of portfolio investments - 33 - 205 643 Acquisition of intangible assets -84 -101 -248 -235 -398 Disposal of intangible assets -1 19 7 23 62 Acquisition of property, plant and equipment -7 1 -20 -13 -30 Disposal of property, plant and equipment 3 0 3 2 15 Investment in associated companies/subsidiaries -158 7 19 -90 -148 Disposal of associated companies/subsidiaries 2,490 - 2,490 - - Net cash flows from investing activities 1,639 -427 1,302 -847 -1,562 Cash flow from financing activities Net proceeds from borrowings -9,361 1,304 -9,748 -397 -2,742 Borrowings and repayment of other financial liabilities 138 702 107 709 135 Repayment of leases -48 -50 -147 -181 -216 Proceeds from issuance of ordinary shares 7,040 901 7,040 901 948 Share repurchases - - - -61 -61 Finance income received 31 -199 55 65 78 Finance expense paid -979 -2,575 -2,985 -3,180 -4,093 Receipts from settlement of hedging derivatives 1 23 1 65 67 Payments for settlement of hedging derivatives -17 0 -17 -71 -81 Net payments on settlement of other derivatives 30 -44 30 -183 -176 Dividends paid to non-controlling interest - - -408 -337 -332 Net cash flows from financing activities -3,166 61 -6,073 -2,671 -6,472 Cash inflow/outflow during the period -182 2,054 -10 2,802 552 Cash and cash equivalents at the beginning of the period 3,004 3,017 2,574 2,504 2,504 Foreign exchange differences 117 -68 375 -303 -483 Cash and cash equivalents at the end of the period 2,938 5,003 2,938 5,003 2,574 16 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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Third quarter 9 months Full year SEK m Note Jul–Sep 2026 Jul–Sep 2025 Jan–Sep 2026 Jan–Sep 2025 2025 Other income - - - 371 399 Total income - - - 371 399 Personnel expenses 4 11 -4 -89 -135 Other operating costs 4 -5 -222 -13 -405 -442 Depreciation and amortisation -2 -2 -5 -16 -18 Net operating income (EBIT) -3 -213 -22 -139 -196 Net financial income/loss 106 1,161 293 -280 -110 Income/loss before taxes 103 948 271 -419 -305 Appropriations, untaxed reserves - - - - -35 Appropriation, Group contribution - - - - 650 Taxes 5 - -169 - -174 -196 Net income/loss for the period 103 779 271 -593 114 Net earnings for the period correspond to comprehensive earnings for the period. SEK m Note 30 Sep 2026 30 Sep 2025 31 Dec 2025 ASSETS Non-current assets Tangible assets 20 27 26 Financial assets 21,064 13,368 14,389 Total non-current assets 21,084 13,395 14,414 Current assets Receivables 1,021 750 953 Cash and cash equivalents 45 398 325 Total current assets 1,066 1,147 1,278 TOTAL ASSETS 22,151 14,543 15,693 SHAREHOLDERS’ EQUITY AND LIABILITIES Shareholders’ equity Restricted equity 358 286 286 Non-restricted equity 16,081 7,435 8,843 TOTAL SHAREHOLDERS’ EQUITY 16,440 7,721 9,129 Untaxed reserves 35 - 35 LIABILITIES Non-current liabilities 4,398 6,409 5,321 Current liabilities 1,277 413 1,207 TOTAL LIABILITIES 5,676 6,822 6,529 TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 22,151 14,543 15,693 Condensed statement of Income – Parent Company Condensed statement of financial position – Parent Company 17 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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Note 1. Bases of preparation Accounting principles This interim report has been prepared in accordance with the Annual Accounts Act and IAS 34 Interim Financial Reporting for the Group and in accordance with Chapter 9 of the Annual Accounts Act for the Parent Company. The accounting principles applied by the Group and the Parent Company Intrum AB (publ) are essentially unchanged compared with the 2025 Annual Report. IFRS 18 Presentation and Disclosures in Financial Statements (April 2024): IFRS 18 replaces IAS 1, carrying forward many of the requirements in IAS 1 unchanged and complementing them with new requirements. IFRS 18 introduces new requirements to: • present specified categories and defined subtotals in the statement of profit or loss; • provide disclosures on management-defined performance measures (MPMs) in the notes to the financial statements; and • improve aggregation and disaggregation. An entity is required to apply IFRS 18 for annual reporting periods beginning on or after 1 January 2027, with earlier application permitted. The amendments to IAS 7 and IAS 33, as well as the revised IAS 8 and IFRS 7, become effective when an entity applies IFRS 18. IFRS 18 requires retrospective application with specific transition provisions. Management has completed its IFRS 18 implementation assessment. The assessment concluded that the Group has specified main business activities related to collection and servicing operations and investments in non- performing loan portfolios. Consequently, IFRS 18 will result in changes to the presentation and categorisation of certain items within the statement of profit or loss and enhanced disclosure requirements, including management-defined performance measures. The standard is not expected to impact the Group’s financial position, cash flows or total profit. Rounding and comparisons Due to rounding, number presented in the interim report may not sum up to the exact total and percentages may differ from absolute figures. Comparisons are made in writing, unless otherwise stated, with comparable figures from third quarter 2025. Note 3. Development during the quarter Parent Company For the third quarter 2026, the Parent Company reported profit before tax of SEK 103m (948). The Parent Company held SEK 45m (325) in cash and cash equivalents at the end of the quarter. Total equity increased by SEK 7,311m compared with 31 December 2025, mainly driven by the share issue which generated SEK 7,040m. The result for the period and financial position in the Parent Company reflects the outcome of the business transfer performed in May 2025 where operational responsibilities and resources were transferred to its subsidiary Intrum Group Operations AB. Development in the period Total assets of the group as of 30 September amounted to SEK 67,688m (65,468) representing an increase of three percent, compared to 31 December 2025. The increase is mainly attributable to higher portfolio investments, which increased by SEK 3.6bn during the first nine months this year, primarily driven by the full consolidation of the Savoy group from 31 March 2026. The increase was partly offset by SEK 2.1bn decrease in Investments in associates and joint ventures due to the sale of Orange which was completed in July 2026. Total liabilities decreased by SEK 6.1bn compared with 31 December 2025, mainly driven by lower borrowings following debt repayments, funded by the share issue. In July 2026, Intrum completed the capital raise, increasing equity by SEK 7,040m. Following the issuance of new ordinary shares, the total number of shares outstanding increased by 3,045,499,531. In July 2026, Intrum completed the sale of its 35% investment in Orange, which had been accounted for as an associate. The transaction generated cash proceeds of SEK 2.5bn and resulted in a net gain of SEK 430m, which is presented within Gain on disposal of associates and joint ventures in the consolidated income statement. On 31 March 2026, Intrum acquired additional economic interest in Ithaca Investment DAC and entered into amendments to the co-investment Notes Note 2. Significant risks and uncertainties Risks to which the Group and Parent Company are exposed include but are not strictly limited to risks relating to: • Economic developments, compliance and changes in regulations, • Reputation risks, • Tax risks, • Risks attributable to IT and information management, • Geopolitical risks such as political risks, civil unrest, disruption, or conflicts including armed conflicts and war directly or indirectly affecting locations where Intrum or its clients maintain or conduct business, • Risks attributable to acquisitions, • Market risks, • Liquidity risks, • Credit risks, • Risks inherent in and associated with portfolio investments and payment guarantees, as well as financing. The risks are described in more detail in the Board of Directors’ report in Intrum’s 2025 Annual report. Intrum has a resilient business model and the demand for our services and solutions are expected to increase over the coming quarters. 18 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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agreement with the other co-investor, resulting in Intrum obtaining control over Ithaca. As a consequence, control extended to Penelope, an Italian special purpose vehicle of which Ithaca holds 95 percent of the mezzanine and junior notes, and to Savoy, a dedicated real-estate vehicle operating exclusively for the benefit of Penelope. The Savoy group was previously accounted for as a joint venture using the equity method. Following the change in control, the Savoy group has been fully consolidated as from 31 March 2026. As a result of the transition from equity accounting to full consolidation, the Intrum Group derecognised shares in joint ventures of SEK 274m and recognised an increase in consolidated equity of SEK 1.2bn. The consolidated balance sheet of the Savoy Group as of September 2026 is presented in the table below. Balance sheet SEK m 30 Sep 2026 Portfolio investments 3,471 Total non-current assets 3,471 Property holdings 314 Receivables 107 Cash and cash equivalents 357 Total current assets 777 TOTAL ASSETS 4,249 Shareholders equity 1,989 Borrowings 1,486 Other long-term intercompany liabilities 414 Other long-term liabilities 303 Non-current liabilities 2,202 Current liabilities 58 Total current liabilities 58 TOTAL LIABILITIES 2,260 TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 4,249 Note 4. Other operating costs Group Third quarter Full year SEK m Jul–Sep 2026 Jul–Sep 2025 2025 IT expenses -279 -301 -1,158 Legal expenses -327 -224 -1,022 Other expenses -735 -753 -3,035 Other operating costs -1,341 -1,278 -5,216 Parent Third quarter Full year SEK m Jul–Sep 2026 Jul–Sep 2025 2025 IT expenses -1 -53 -268 Legal expenses 0 1 38 Other expenses -5 -170 -212 Other operating costs -5 -222 -442 Note 5. Tax expenses There were no significant tax-related items during the quarter. The tax expense of SEK 189m (485) was in line with forecast. The decrease compared with Q3 2025 is mainly attributable to the recapitalisation transaction in the prior year, which led to the derecognition of a deferred tax asset related to forfeited tax losses in the parent company. Note 6. Goodwill Markets Area 30 Sep 2026 30 Sep 2025 31 Dec 2025 Norway Northern 3,768 3,413 3,305 Sweden Northern 2,013 2,013 2,013 Denmark Northern 801 781 764 Finland Northern 2,679 2,610 2,553 Poland Northern 41 41 41 Austria & Germany Middle - 2,029 1,504 Belgium & Netherlands Middle 1,289 1,247 1,228 Switzerland Middle 3,231 3,186 3,133 France Middle 2,431 3,441 2,317 UK & Ireland Middle 3,296 3,223 3,076 Portugal Southern 969 951 923 Spain Southern 2,531 3,823 2,412 Italy Southern 1,893 1,844 1,804 Greece Southern 4,990 4,861 4,755 Other - 249 233 233 Total 30,181 33,696 30,061 As a result of impairment indicators identified during Q3 2026, management performed an interim value-in-use assessment of the Austria & Germany servicing cash generating unit (CGU). The assessment incorporated updated forecast cash flows and revised WACC assumptions. Given the continued losses forecast in Germany, the absence of significant new servicing contracts in the pipeline and the limited sustainable cash generation expected from the CGU, the recoverable amount was determined to be below the carrying amount. Accordingly, a goodwill impairment loss of SEK 1,517m was recognised in Q3 2026. Management has not identified any impacts to other assets related to the CGU. 19 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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Note 7. Financial instruments and fair value Financial assets and liabilities measured at fair value on a recurring basis include derivative assets and liabilities, and deferred considerations related to acquisitions of shares. Derivatives are measured using valuation techniques that incorporate observable market inputs and are therefore classified as Level 2 in the fair value hierarchy in accordance with IFRS 13. Deferred considerations are measured using unobservable inputs and are accordingly classified as Level 3 in the fair value hierarchy in accordance with IFRS 13. There were no material changes in the fair value of Level 3 instruments during the period, nor any changes in valuation techniques or key assumptions. The Group did not have any material non-recurring fair value measurements during the period. Most of the Group’s financial assets and liabilities are carried at amortised cost in the consolidated financial statements. For outstanding bonds with a total nominal amount of SEK 32,424m (36,146) at the end of the quarter, the fair value is estimated at SEK 30,881m (32,688), based on quoted market prices. These fair values are disclosed for information purposes and are classified as Level 1 in the fair value hierarchy in accordance with IFRS 13. There were no transfers between Level 1, Level 2 or Level 3 of the fair value hierarchy during the period. Total financing 2026 2025 As at 1 January 43,384 50,701 Proceeds 2,547 5,055 Repayments -12,295 -5,452 Borrowings added on consolidation of Savoy group1 1,913 - Currency translation effect 1,948 -1,476 Amortised cost and other 367 -2,148 As at 30 Sep 37,864 46,681 1) Savoy group was fully consolidated from 31 March 2026. Refer to note 3 for further information. In July 2026, Intrum completed a EUR 525m refinancing through the issuance of 7.000% Senior Secured Notes due 2031. The proceeds, together with cash on balance sheet, were used to redeem the outstanding 8.000% New Money Notes due 2027, extending the Group’s debt maturity profile to 2031 and reducing the coupon to 7.0%. In September 2026, Intrum further optimised its capital structure by repurchasing EUR 200m equivalent (SEK 2.2bn) of its 7.750% Exchange notes due 2027 and 2028 using proceeds from the divestment of the associated company Orange. Net debt mainly consists of EUR and SEK bonds, bank term loan facilities and drawings under the revolving credit facility (RCF). Net debt amounted to SEK 37,192m (47,071) with maturities between 2027 and 2031. Net debt in relation to the RTM cash EBITDA stands at 4.1x at the end of the third quarter 2026 compared to 4.4x at the end of the same quarter 2025. At the end of the third quarter SEK 5,220m (11,892) of Intrum’s revolving credit facility was utilised. The RCF balance decreased by SEK 6.9bn from the second quarter to the third quarter following the repayment of EUR 677m in July, primarily funded by the capital raise proceeds. As a result, the RCF utilisation declined from near-full usage at the end of the second quarter to low levels for the remainder of the third quarter. The cash balance at the end of the third quarter was SEK 2,938m (5,003). Borrowings As at 30 Sep Bonds Bank loans Notes Payable2 Total Carrying amount 30,876 5,503 1,486 37,864 Amortisation1 1,563 1 46 1,610 FX movement -15 -15 Nominal value 32,424 5,504 1,532 39,459 1) Amortisation for the bonds represents the periodic adjustment to the carrying amount of the bonds, reflecting the allocation of transaction costs and fair value adjustments upon initial recognition to interest expense over the bonds’ terms, ensuring the amortised costs of the bonds align with their nominal value upon maturity, using the effective interest rate method. 2) Notes payable represent the outstanding nominal amount of the senior notes issued by Penelope SPV S.r.l. under its securitisation structure. Note 8. Transactions with related parties During the quarter no significant transactions occurred between the Group and other closely related companies, board members or the Group management team. The transactions with related parties are described in more detail in Note 30 in Intrum’s 2025 Annual report. Note 9. Post balance sheet events No significant events occurred after the balance sheet date. 20 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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Assurance Auditor’s Review Report The CEO hereby gives the assurance that the interim report provides a true and fair view of the business activities, financial position and results of operations of the Group and the Parent Company, and describes the significant risks and uncertainties to which the Parent Company and Group companies are exposed. The interim report has been reviewed by the Company’s auditors. Stockholm, date according to electronic signature Johan Åkerblom President and CEO Introduction We have reviewed the interim report for Intrum AB (publ) as of 30 September 2026 and for the nine-month period then ended. The Board of Directors and the Chief Executive Officer are responsible for the preparation and presentation of this interim report in accordance with IAS 34 and the Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review. Scope of Review We conducted our review in accordance with the International Standard on Review Engagements ISRE 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity. A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review has a different focus and is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (ISA) and other generally accepted auditing practices. The procedures performed in a review do not enable us to obtain a level of assurance that would make us aware of all significant matters that might be identified in an audit. Therefore, the conclusion expressed based on a review does not give the same level of assurance as a conclusion expressed based on an audit. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the interim report is not, in all material respects, prepared for the Group in accordance with IAS 34 and the Annual Accounts Act, and for the Parent Company in accordance with the Annual Accounts Act. Stockholm, date according to electronic signature Deloitte AB Patrick Honeth Authorised Public Accountant 21 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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Alternative performance measures EBIT to Cash EBITDA1,2 Third quarter 9 months Rolling 12 months Full year SEK m Jul–Sep 2026 Jul–Sep 2025 Jan-Sep 2026 Jan-Sep 2025 2026 2025 EBIT -698 -685 1,696 1,839 319 463 Depreciation and amortisation of intangible and tangible assets 200 265 586 809 795 1,018 PI amortisation 869 1,006 2,715 3,373 3,717 4,375 Impairment of intangible and tangible assets 1,517 1,600 1,517 1,600 4,456 4,539 EBITDA 1,888 2,186 6,514 7,621 9,287 10,394 Net credit gains/losses 3 7 -511 -607 -542 -638 Share of results of associates and joint ventures 3 -20 -104 -67 -117 -81 Cash (dividends) from associates and joint ventures 20 39 95 121 134 160 Items affecting comparability in cash EBITDA 155 218 177 344 204 371 Cash EBITDA from continuing operations 2,068 2,429 6,171 7,412 8,966 10,207 1) Current and comparative periods have been re-calculated to reflect full consolidation of Savoy group in order to enhance comparability between periods. Cash EBITDA has been adjusted by SEK 262m for Q3 2025 (comprising of EBIT SEK 3m, PI amortisation SEK 283m, net credit gain/losses SEK -1m, share of results of joint ventures SEK -23m), by SEK 191m for Sep YTD 2026 (comprising of EBIT SEK -37m, PI amortisation SEK 303m, share of results of joint ventures SEK -75m), by SEK 817m for Sep YTD 2025 (comprising of EBIT SEK 477m, PI amortisation SEK 1,076m, net credit gains/ losses of SEK -621m and share of results of joint ventures SEK -115m), by SEK 605m for RTM (comprising of EBIT SEK 19m, PI amortisation SEK 598m, net credit gain/losses SEK 2m, share of results of joint ventures SEK -14m) and by SEK 1,231m for full year 2025 (comprising of EBIT SEK 533m, PI amortisation SEK 1,371m, net credit gain/losses SEK -619m, share of results of joint ventures SEK -54m). 2) Current and comparative periods have been re-calculated to reflect the sale of Orange in order to enhance comparability between periods. Cash EBITDA has been adjusted by SEK 0m for Q3 2026 (comprising of EBIT SEK -432m, share of results of associates and joint ventures SEK 2m and IAC in cash EBITDA SEK 430m), by SEK -42m for Q3 2025 (comprising of EBIT SEK -104m, cashflow from associates and joint ventures SEK -42m and share of results of associates and joint ventures SEK 104m), by SEK -66m for Sep YTD 2026 (comprising of EBIT SEK -631m, cashflow from associates and joint ventures SEK -66m, share of results of associates and joint ventures SEK 201m and IAC in cash EBITDA SEK 430m), by SEK -98m for Sep YTD 2025 (comprising of EBIT SEK -412m, cashflow from associates and joint ventures SEK -98m and share of results of associates and joint ventures SEK 412m), by SEK -90m for RTM (comprising of EBIT SEK -724m, cashflow from associates and joint ventures SEK -90m, share of results of associates and joint ventures SEK 294m and IAC in cash EBITDA SEK 430m) and by SEK -122m for full year 2025 (comprising of EBIT SEK -505m, cashflow from associates and joint ventures SEK -122m and share of results of associates and joint ventures SEK 505m). Net debt reconciliation 1 SEK m 30 Sep 2026 30 Sep 2025 31 Dec 2025 Borrowings 39,459 51,487 47,591 Lease liability 549 601 602 Deferred liabilities 123 399 359 Gross debt 40,131 52,487 48,552 Cash and cash equivalents -2,938 -5,416 -3,094 Net debt 37,192 47,071 45,459 Leverage ratio 4.1 x 4.4 x 4.5x 1) Comparative periods have been re-calculated to reflect full consolidation of Savoy group. 22 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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Intrum AB’s (publ) share is included in Nasdaq Stockholm’s Mid Cap Index. During the period 1 July– 30 September 2026, 1,686,402,663 shares were traded for a total value of SEK 5,743m. The highest price paid during the period was SEK 4.26 (9 September 2026) and the lowest was SEK 2.9 (23 July 2026). On the last trading day of the period, 30 September 2026, the price was SEK 3.17 (latest paid). During the period Intrum AB’s (publ) share price decreased by 7.1 percent, while Nasdaq OMX Stockholm increased by 2.4 percent. Other information Shareholders 30 September 2026 No of shares Capital and votes, % Christen Sveaas 228,702,046 7.19% Varma Mutual Pension Insurance Company 145,016,448 4.56% Avanza Pension 141,501,424 4.45% Carnegie Fonder 130,295,509 4.10% Nordnet Pensionsförsäkring 73,419,406 2.31% DNB Asset Management AS 70,537,319 2.22% Lundbeckfonden 63,968,351 2.01% Defa Endeavour AS 60,654,420 1.91% Handelsbanken Fonder 56,581,854 1.78% Burlington Loan Management DAC 56,245,439 1.77% BlackRock 47,780,237 1.50% Nordea Liv & Pension 42,086,452 1.32% Magnus Lindquist 36,848,060 1.16% Berndt Ivarsson 36,734,693 1.15% Hunters Moon Capital LLP 36,205,800 1.14% Total top 15 largest shareholders 1,226,577,458 38.55% Other shareholders 1,955,167,537 61.45% Total number of shares including treasury shares 3,181,744,995 100.00% Source: Modular Finance Holdings and Intrum The information in this interim report is such as Intrum AB (publ) is required to disclose pursuant to the EU Market Abuse Regulation. The information was provided under the auspices of the contact person above for publication on 23 October 2026 at 07.00 a.m. CET. Denna delårsrapport finns även på svenska. Currency exchange rates Closing rate 30 Sep 2026 Closing rate 30 Sep 2025 Average rate Jul–Sep 2026 Average rate Jul–Sep 2025 Average rate Jan–Dec 2025 1 EUR=SEK 11.33 11.06 11.00 11.11 11.07 1 CHF=SEK 11.96 11.81 11.83 11.85 11.81 1 NOK=SEK 1.04 0.94 1.00 0.95 0.94 1 HUF=SEK 0.03 0.03 0.03 0.03 0.03 Read more: Year-end reports, interim reports and other financial information Johan Åkerblom President and CEO email: johan.akerblom@intrum.com Masih Yazdi CFO email: masih.yazdi@intrum.com Annie Ho Head of Treasury & Investor Relations email: annie.ho@intrum.com Masih Yazdi is the contact under the EU Market Abuse Regulation. For further information, please contact: The share 16 14 12 10 8 6 4 2 0 Intrum OMX Stockholm (Indexed) Share price, SEK (1 January 2025 – 30 September 2026) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2025 2026 23 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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Definitions Result concepts, key figures and alternative indicators used in this report include the following; Adjusted EBIT Operating earnings excluding items affecting comparability (IACs). Adjusted EBIT margin Adjusted EBIT in relation to adjusted income. Adjusted EBITDA Adjusted EBITDA is defined as EBITDA adjusted for items affecting comparability. It can also be defined as Adjusted EBIT adding back amortisations of portfolio investments and depreciation, amortisations and impairments of tangible and intangible assets. Adjusted net income/loss Net income/loss excluding items affecting comparability (IACs), net of tax. Adjusted Servicing EBIT margin In accordance with the adjusted EBIT margin definition above for the Servicing segment. Adjusted Servicing EBITDA In accordance with the adjusted EBITDA definition above for the Servicing segment. Amortisation percentage portfolio investments Amortisation percentage refers to the proportion of amortisation on portfolio investments relative to the cash income during a reporting period. Book value portfolio investments Present value of all expected future collection, discounted at the effective interest rate as determined upon acquisition of the portfolios. The measure includes the Group’s share in associates and joint ventures within the Investing segment as well as related assets held for sale. Cash EBITDA Cash EBITDA is Adjusted EBITDA excluding non-cash income from associates and joint ventures. Cash income Income derived from actual cash transactions during the reporting period, excluding non-cash compo - nents such as: portfolio amortisation and unrealised gains and losses. Cash flow from associates and joint ventures The cash flow received by Intrum in form of distributions and dividends from investments in joint ventures. Collection index vs. active forecast Performance on the Intrum-owned book against the Active forecast, excluding associates and joint ventures. Cost to income ratio (C/I) Total costs divided by total income. EBIT Net income/loss adding back net financial expenses and tax. EBIT margin EBIT in relation to income. EBITDA EBIT adding back amortisations of portfolio investments and depreciation, amortisations and impairments of tangible and intangible assets. Servicing EBITDA is calculated in accordance with the EBITDA definition above and represents EBITDA attributable to the Servicing segment. Earnings per share (EPS)/Net income/ loss per share Net income/loss attributable to the shareholders of the Parent, Intrum AB (publ), divided by the average number of outstanding shares. Estimated remaining collections, (ERC) Nominal value of the expected future collection on the Group’s portfolio investments, including the Group’s anticipated cash flows from investments in associates and joint ventures. External income Income from the Group’s external clients and income generated from Real Estate Owned assets (REO). Equity per share Total shareholder’s equity divided by number of outstanding shares. Gross collections The total amount of cash collected from investing portfolios during a reporting period, before deducting any fees, commissions, or operational costs. Excludes cash collected from joint ventures. Income Total income comprising external servicing income, such as fees from collection services, property sales, sub scription income and other ancillary services – together with income recognised as amount collected less amortisation and fair- value revaluations for the period, as well as any other operating income earned. Internal income Predominantly related to income generated by the Servicing segment from providing collection services on the Group’s own portfolios to the Investing segment. Items affecting comparability (IACs) To better reflect the Group’s per for- mance, significant IACs are adjusted from IFRS figures to provide more rele- vant and comparable financial infor- mation. IACs primarily comprise costs related to Group-wide restructuring activities, transformation initiatives, and M&A (mergers and acquisitions) transactions. IACs include material items of income or expense that are non-recurring in nature and are not considered reflective of the Group’s ongoing operating performance. Items arising from normal business activities are not classified as IACs, even if they occur infrequently. Leverage ratio Calculated as net debt divided by Cash EBITDA RTM. Net debt includes the nominal value of borrowings, lease liabilities, long-term deferred payments and net of cash equivalents, excluding operating liabilities (provisions and hedging obligations) and contingent liabilities. Cash EBITDA is defined as EBIT after adding back depreciation, amortisation and impairments of fixed assets and portfolio amortisation, excluding non-cash income from associates and joint ventures, IACs, and discontinued operations. Markets • Traditional debt servicing markets with similar business models. Traditional markets include Austria, Belgium, Denmark, Finland, France, Germany, Ireland, the Netherlands, Norway, Poland, Portugal, Sweden, and Switzerland. • Specialised markets consist of Greece, Italy, Spain and the United Kingdom, characterised by bespoke set-ups such as joint ventures and/or country-specific business models. • Investing-focused markets include Czech Republic, Hungary and Slovakia. 24 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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Organic growth Average increase in income in local currency, adjusted for the effects of acquisitions and divestments of Group companies. Organic growth is a measure of the development of the Group’s existing operations that management has the ability to influence. Portfolio investments including associates and joint ventures The commitments to invest in portfolios of overdue receivables, with or without collaterals made in the reporting period. This includes real estate and investments in joint arrangements where the underlying assets are portfolio of receivables and/ or properties. Portfolio investments – collected amounts, amortisations and revaluations Portfolio investments consist of portfolios of delinquent consumer debts purchased at prices below the nominal receivable. These are recognised at amortised cost applying the effective interest method, based on a collection forecast established at the acquisition date of each portfolio. Income attributable to portfolio invest - ments consist of collected amounts less amortisation for the period and revaluations. The amortisation represents the period’s reduction in the portfolio’s current value, which is attributable to collection taking place as planned. Revaluation is the period’s increase or decrease in the current value of the portfolios attributable to the period’s changes in forecasts of future collection. Real estate owned assets (REO) Real estate assets acquired by Intrum, typically through foreclosure or as part of debt recovery processes. Rolling twelve month (RTM) RTM, refers to figures calculated on a last 12-month basis, offering the view of performance that is not tied to a fixed calendar or fiscal year. Servicing leverage ratio Calculated as the Servicing segment share of net debt divided by the adjusted Servicing EBITDA (RTM). The Servicing share of net debt is calculated based on total net debt, reduced by the portion of net debt related to the Investing segment. The Investing share of net debt is calculated as 80 percent of the book value of the investment portfolio. 25 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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www.intrum.com About Intrum Intrum is Europe’s leading provider of ethical debt resolution and credit management services with a presence in 20 countries. We help companies prosper by offering solutions designed to improve cash flow and long-term profitability, by caring for their customers. With more than 100 years of experience and more than 8,000 employees serving 70,000 companies, we have the scale and insight to make a difference. Our focus is to create shared value for business and society, which both benefit from companies being paid on time and individuals achieving financial stability. In 2025, the company generated income of SEK 17 billion. Intrum is headquartered in Stockholm, Sweden, and the Intrum AB (publ) share is listed on the Nasdaq Stockholm exchange. Intrum as an investment Business model – Intrum operates two business areas, Servicing and Investing. Servicing accounts for around 70 percent of Group income and provides credit management services on behalf of clients, while Investing represents the remaining 30 percent and focuses on acquiring non-performing loans portfolios. Both business areas are managed through the same integrated operational platform, drawing on Intrum’s long-standing experience in handling late payments and supporting customers’ return to a sustainable financial situation. Servicing remains the strategic backbone, while Investing continues to contribute cash flow and performance, increasingly supported by partnerships that reduce balance sheet intensity. Together, the businesses create a balanced, resilient earnings base. Favourable market environment for Intrum – As the European market leader, Intrum is well positioned to benefit from scale supported by resilience to macroeconomic conditions through its diversified geographical presence and business mix. In an evolving competitive landscape, Intrum offers a full scope of services, combining underwriting capabilities, capital partnerships and scaled servicing platform. Our presence across 20 countries, rich data and platform optimisation support accelerated technology adoption, efficiency and growth, while scale and a proven track record remain key advantages in an increasingly regulated environment. Long-term client relationships and trusted conduct – Intrum serves around 70,000 clients and manages approximately 130 million customer interactions each year. Many of its top 15 clients have stayed with the company for more than 15 years, and contract renewal rates are on average around 85 percent. Intrum’s reputation for compliance, respectful treatment and effective collections makes it a trusted long-term partner and a strong platform for continued client growth. Proven business model with stabilising performance and cash flows – Intrum’s business model has proven resilient through different macro cycles. Servicing profitability is stabilising and cost- efficiency measures are showing results. Combined with predictable case volumes and disciplined capital allocation, Intrum is moving towards a more resilient, service-driven earnings mix. Enabling financial health for people, businesses and society across Europe Financial calendar 2026 and 2027 4 Feb 2027 Interim report fourth quarter 23 Mar 2027 Annual report 22 Apr 2027 Annual General Meeting 2:00 PM-3:00 PM Grev Turegatan 30 114 38 Stockholm 26 Intrum Interim report third quarter 2026 Q3 in brief Comment by the President and CEO Key financial metrics Segment overview Financial overview Financial reports Other information Definitions About Intrum
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Intrum AB (publ) / Riddargatan 10 / 114 35 Stockholm, Sweden Tel +46 8 616 76 66 www.intrum.com / info@intrum.com