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3NUTUN LIMITED Results presentation for the year ended 30 September 2025 ▪ CEO: Ruben Moggee ▪ Geographies: UK, US, Australia ▪ Industries: financial services, telco, retail, utilities ▪ 32 Clients ▪ Billable seats: 2 227 NUTUN GROUP STRUCTURE ▪ CEO: Robert Amoils ▪ Geography: South Africa ▪ Industries: banking, specialist lenders, retail ▪ 24 Clients ▪ PBD and RTC portfolio valuation: R4.7 bn ▪ Estimated Remaining Collections: R8.5 bn ▪ Face Value of portfolio: R34.7 bn ▪ Average Monthly Collections: R506 m Nutun South Africa focuses exclusively on the acquisition and collection of unsecured NPL portfolios, debt collection and recovery services on an agency basis. Nutun International focuses exclusively on BPO customer acquisition and retention, customer experience, collection and recovery services ▪ Executive Chairman*: Jonathan Jawno ▪ CFO: Rob Huddy ▪ Shared services – IT & product innovation, finance, compliance ▪ Strong balance sheet to resume growth ▪ Committed funding lines with comfortable covenants Nutun Limited *effective 1 January 2026
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4NUTUN LIMITED Results presentation for the year ended 30 September 2025 CUSTOMER ACQUISITION & ONBOARDING CUSTOMERSERVICE RETENTION&CROSS SELL ACQUISITION & ONBOARDING ▪ Customer segmentation ▪ Outbound campaigns and qualification ▪ E-Commerce support ▪ Campaign execution and response models ▪ Customer and product onboarding ▪ Referral and fraud queue management LEGAL & POST CHARGE-OFF ▪ Full legal strategy and processing ▪ NPL debt purchase ▪ Asset recovery COLLECTIONS ENABLEMENT ▪ Portfolio evaluation and yield modelling ▪ Scoring models ▪ Digital, omnichannel and telephony campaign build and execution ▪ First and third-party recoveries ▪ Secured and unsecured debt recoveries REHABILITATION ▪ Debt review and rehabilitation ▪ Account settlement and migrations ▪ Debt review portal integrated into debt counselor network RETENTION & CROSS SELL / Loyalty ▪ Product and usage education ▪ Proactive churn management ▪ Contract renewals and cancelations ▪ Upsell and cross sell SERVICING ▪ Billing and service support ▪ Product education ▪ Service requests ▪ Queries and complaints ▪ Retention management ▪ Client success PREDELINQUENCY ACCOUNT TRANSITION CUSTOMER ENGAGEMENT COLLECTIONS & RECOVERIES REMEDIATION BILLING EARLY&LATESTAGE LEGAL& POST CHARGE-OFFREHABILITATION Nutun overview Unique offering spanning the full customer and credit lifecycle
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5NUTUN LIMITED Results presentation for the year ended 30 September 2025 ▪ Group structure simplified ▪ Group head office rationalised ▪ Non-core operations disposed ▪ Material reduction in overheads ▪ Balance sheet strengthened ▪ Gearing reduced ▪ Funding covenants enhanced ▪ Funding structure simplified and enhanced for funders ▪ Liquidity restored with support from funders NUTUN GROUP RESTRUCTURE ▪ Legacy Transaction Capital obligations settled including listed notes, commitment agreement liability and disposal of remainder of Mobalyz holding ▪ Focus on Nutun operating businesses ▪ Reentered the NPL market ▪ Diversified and enhanced the BPO customer base Structural and operating restructure objectives achieved
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6NUTUN LIMITED Results presentation for the year ended 30 September 2025 Nutun Group outlook ▪ Client diversification with the US market successfully penetrated ▪ Collections enabled in UK and US markets ▪ T argeted streamlined client base optimising profitability and improved growth potential ▪ Improved customer KPI measures enhancing client retention and driving growth with existing clients ▪ Continued streamlining of operations ▪ Continued supportfor SA as a global BPO Hub ▪ Potential headwind if the Rand continues to strengthen ▪ Timing and extent of new DTI programme uncertain ▪ Positive outlook for book buying in FY26/ FY27 as market dynamics improve ▪ T argeted streamlined client base optimising profitability ▪ Continued streamlining of operations ▪ PBD valuation model simplified and refined resulting in more cautious, stable and less volatile amortisation ▪ Resilient cash flows ▪ Interest rate down cycle is positive All structural and operating objectives for the two-year restructuring process during FY24 & FY25 achieved Experienced customer focused management teams in place to deliver on strategies Foundations laid for the return to profitability and rescaling and growth of the business Nutun InternationalNutun South Africa ▪ Strategic use of technology, including robotics, machine learning, digitalisation and the use of AI solutions ▪ Efficiencies in both revenue and cost optimisation ▪ Positions Nutun as a provider of AI-driven digital solutions for clients Technology and AI
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PERFORMANCE for the year ended 30 September 2025 FINANCIAL
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8 NUTUN LIMITED Results presentation for the year ended 30 September 2025 Continuing operations attributable to the group Total operations attributable to the group (incl discontinued) FY 2024 (R92) million FY 2025 (R45) million CORE EARNINGS 51% FY 2024 (11.8) cents FY 2025 (5.7) cents CORE EPS 51% FY 2024 (18.7) cents FY 2025 (14.4) cents BASIC EPS 23% FY 2024 (R1 980) million FY 2025 (R52) million CORE EARNINGS 97% FY 2024 (253.7) cents FY 2025 (6.6) cents CORE EPS 97% FY 2024 (126.2) cents FY 2025 (30.3) cents BASIC EPS 76% NUTUN GROUP EARNINGS PER SHARE
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9NUTUN LIMITED Results presentation for the year ended 30 September 2025 NUTUN GROUP INCOME STATEMENT 30 September 2025 30 September 2024 Change Revenue 1 435 1 476 (3%) Cost of revenue (732) (702) (4%) Net income from purchased book debts 244 406 (40%) Operating cost (1 063) (1 340) 21% Net finance charge (91) (304) 70% Net other income 69 67 3% Equity accounted loss (48) (1) (>100%) Operating loss (186) (398) 53% Non-operating profit 38 311 (88%) Loss before tax (148) (87) (70%) Income tax credit / (expense) 35 (67) >100% Continuing basic loss (113) (154) 27% Non-controlling interest - 8 >100% Continuing attributable basic loss (113) (146) 23% Continuing operations – statutory accounts
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10NUTUN LIMITED Results presentation for the year ended 30 September 2025 NUTUN GROUP INCOME STATEMENT 30 September 2025 30 September 2024 Change Revenue and other income 2 953 3 046 (3%) PBD & RTC 1 449 1 503 (4%) BPO, Agency & other 1 504 1 543 3% Operating overheads (1 649) (1 668) (1%) EBITDA 1 304 1 378 (5%) Depreciation & amortisation (163) (163) * Amortisationof PBD & RTC (767) (635) (21%) Net interest (445) (608) 27% Taxation 27 (71) >100% Non-controlling interest (1) (1) * Continuing core earnings (45) (92) 51% 30 September 2025 30 September 2024 Revenue per Financial Statements 1 435 1 476 Net other income per Financial Statements 69 67 1 504 1 543 PBD & RTC revenue 1 449 1 503 Revenue and other income per management accounts 2 953 3 046 Continuing operations – management accounts Reconciliation to statutory accounts Continuing basic loss per Financial Statements (113) (146) Continuing headline earnings adjustments - (24) Continuing headline earnings (113) (170) Continuing core earnings adjustment 68 78 Continuing core earnings (45) (92)
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11NUTUN LIMITED Results presentation for the year ended 30 September 2025 NUTUN GROUP BALANCE SHEET Rm 30 September 2025 30 September 2024 Cash and cash equivalents 147 634 Inventory and receivables 476 509 Purchased book debts 4 677 4 503 Intangible assets 63 88 Property and equipment 450 461 Goodwill 511 511 Equity accounted investments 98 167 Asset held for sale 4 608 Deferred tax & other assets 178 185 Total assets 6 604 7 666 Interest-bearing liabilities 3 807 4 519 Trade and payables 482 249 Liabilities held for sale 4 281 Deferred tax & other liabilities 915 959 Totalliabilities 5 208 6 008 Totalequity 1 396 1 658 NAV/ Share 1.78 2.11 Assets and liabilities held for sale at 30 September 2024 mostly relate to Nutun Transact which was sold during the period Interest-bearing liabilities net of cash and cash equivalents reduced by R225m during FY25 mainly due to the proceeds from the disposal of Nutun Transact of R398m offset by the R176m settlement of the obligations under the commitment agreement
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12NUTUN LIMITED Results presentation for the year ended 30 September 2025 NUTUN GROUP BALANCE SHEET PBBs RTCs Total Balance at 1 October 2024 3 831 672 4 503 Additions 857 84 941 Net collections (1 197) (168) (1 365) Fair value movements – 114 114 Interest calculated using the CAIER 683 – 683 Impairment gain (199) – (199) Balance at 30 September 2025 3 975 702 4 677 Income statement Fair value movements – 114 114 Interest calculatedusing the CAIER 683 – 683 Impairment gain (199) – (199) Year ended 30 September 2025 484 114 598 Statutory accounts Management accounts PBBs RTCs Total Balance at 1 October 2024 3 831 672 4 503 Purchases 857 84 941 Amortisation (713) (54) (767) Balance at 30 September 2025 3 975 702 4 677 Income 1 280 169 1 449 Overheads (83) – (83) Amortisation (713) (54) (767) Year ended 30 September 2025 484 114 598 Reconciliation of PBD and RTC
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FINANCIAL PERFORMANCE for the year ended 30 September 2025 OPERATIONS CONTINUING
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14NUTUN LIMITED Results presentation for the year ended 30 September 2025 NUTUN GROUP CONTINUING OPERATIONS Nutun Group Nutun South Africa Nutun International FY25 FY24 FY25 FY24 FY25 FY24 Revenue and other income 2 953 3 046 1 846 1 960 1 107 1 086 PBD & RTC 1 449 1 503 1 449 1 503 – – BPO 1 094 1 083 – – 1 094 1 083 Agency 341 393 341 393 – – Other 69 67 56 64 13 3 Operating overheads (1 649) (1 668) (740) (675) (909) (993) EBITDA 1 304 1 378 1 106 1 285 198 93 Depreciation & amortisation (163) (163) (90) (62) (73) (101) Amortisationof PBD & RTC (767) (635) (767) (635) – – Net interest (445) (608) (419) (585) (26) (23) Taxation 27 (71) 50 (79) (23) 8 Share of profit from associates (1) (1) (1) (1) – – Non-controlling interest – 8 – – – 8 Continuing core earnings (45) (92) (121) (77) 76 (15) Income statement – management accounts
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15 NUTUN LIMITED Results presentation for the year ended 30 September 2025 NUTUN SOUTH AFRICA Focuses on collections and recoveries services for clients in South Africa ▪ as a principal acquiring unsecured NPL portfolios ▪ as agent on behalf of clients in the financial services, specialised lending and retail sectors Carrying value of PBD & RTC portfolio Cost price PBD & RTC portfolios acquired Estimated remaining collections (ERC) 8 659 8 197 8 461 1 141 475 940 4 665 4 503 4 677 FY23 FY24 FY25 ▪ Revenue split by type: R1 846m (FY24: R1 960m) 6% − Principal & RTC: R1 449m (FY24: R1 503m) 4% − Agency and other: R397m (FY24: R457m) 13% ▪ Capital deployed into principal & RTC portfolio: R940m (FY24: R475m) 98% ▪ Closing principal & RTC portfolio value: R4 677m − (FY24: R4 503m) 4% ▪ Closing ERC for principal and RTC portfolio: R8 461m (FY24: R8 197m) 3% ▪ Closing number of clients: 24 (FY24: 31) 23% ▪ Average monthly collections: R506m (FY24: R510) 1% Focuses on collections and recoveries services for clients in South Africa
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16 NUTUN LIMITED Results presentation for the year ended 30 September 2025 NUTUN INTERNATIONAL ▪ Geographic split by revenue – R1 094m (FY24: R1 083m) 1% − UK: R532m (FY24: 597m) 11% − US: R433m (FY24: 322m) 34% − Aus: R129m (FY24: 164m) 21% ▪ Services split by revenue: R1 094m (FY24: R1 083m) 1% − Customer Care Services: R864m (FY24: 903m) 4% − Collection Services: R230m (FY24: R181m) 27% ▪ Closing billable seats: 2 227 (FY24: 2 082) 7% ▪ Closing number of clients: 32 (FY24: 32) -% − 10 clients exited, 10 new clients onboarded Revenue – Geographic split (Rm) 129 433 532 UK US AUS 322 164 597 FY24 R1 083m FY25 R1 094m Revenue - Services split (Rm) FY24 R1 083m 181 902 864 230 Customer care Collection FY25 R1 094m ▪ customer acquisition and retention, customer experience, collection and recovery services ▪ on behalf of clients in the utilities, financial services, retail, telecoms and e-commerce sectors Focuses on BPO customer engagement services for clients in the UK, USA and Australia, including
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17NUTUN LIMITED Results presentation for the half year ended 31 March 2025 TOP REASONS FOR OUTSOURCING BPO SERVICES TO SOUTH AFRICA Top 3 outsourcing destination in English service locations – strong foundation in contact centers & niche areas 9 international subsea internet cables landing in South Africa Cultural affinity to UK and USA 60-70% lower costs than the UK and Australia, 25-35% lower than leading CEE locations Robust ICT infrastructure + global connectivity – the best in Africa 18% better customer experience quality 46 direct flights to major global business centres 24/7 customer support and GMT +2 time zone 16.5 million English speakers with neutral accents. Ranked 11/113 in 2024 English proficiency Index Rank Scoring and rated with “Very High Proficiency” PCI, GDPR and ISO compliant for Europe
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FINANCIAL PERFORMANCE for the year ended 30 September 2025 OPERATIONS DISCONTINUED
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19 NUTUN LIMITED Results presentation for the year ended 30 September 2025 Discontinued operations for the year ended 30 September 2025 30 September 2025 30 September 2024 Nutun Transact 4 33 Nutun Australia (4) 13 Transaction Capital Business Solutions (7) (7) Mobalyz – (2 366) WeBuyCars – 325 Core loss from discontinued operations* (7) (1 888) * The core loss excludes the R176m settlement of the commitment agreement obligations
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VISION 2027 AND BEYOND
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21NUTUN LIMITED Results presentation for the year ended 30 September 2025 Enabling them to capitalise on their leading positions in the South African based international BPO services and NPL sectors Looking forward Continuing with implementation of existing strategy and building a profitable business into 2026 and beyond Nutun entered FY2025 with a clear vision to fulfil its potential as the first listed global BPO on the JSE The two businesses are customer focused, have streamlined cost bases and augmented management teams 2024 was a watershed year and marked the end of a chapter for Transaction Capital
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