Commentary & Deal Flow

• Price Progression:
• • Priced: 7% at 100. +419bp vs DBR 0% 15-August-2031
  • Price talk: 7% area (+/-12.5bp)
  • IPT: 7-7.25%
• Spread to Benchmark: +419bp
• Benchmark: DBR 0% due 15-August-2031
• Issuer: Intrum Investments and Financing AB (publ)
• Ticker: INTRUM
• Size: €525m
• Exchanged amount: €133,139,000
• New Money Amount Raised: €391,861,000
• Format: 144A/Reg S
• No Reg Rights: 144A/Reg S for life
• Security: Senior Secured Notes due 2031
• Issue Ratings: B2/B+ (stable/positive) (Moody's/S&P)
• Maturity: 15-July-2031 (5y)
• • If any 2029 Exchange Notes remain outstanding on 11-June-2029, the Notes will mature on 11-September-2029.
• Optional Redemption: NC2 (15-July-2028) (MWC B+50bp)
• • 15-July-2028: 103.50
  • 15-July-2029: 101.75
  • 15-July-2030: 100
• Equity claw: 2y 40% at 107
• Change of Control: CoC at 101
• Payment dates: 15-January and 15-July, commencing 15-January-2027
• Denominations: 100k x 1k
• Reg S Common Code: 343854463
• Reg S ISIN: XS3438544630
• 144A Common Code: 343854501
• 144A ISIN: XS3438545017
• Listing: Luxembourg Stock Exchange (Securities Official List)
• Law: New York
• Joint Global Coordinators and Physical Bookrunners: Deutsche Bank (B&D), DNB Carnegie
• Trade Date: 13-July-202
• Settles: 24-July-2026 (T+9)
• Clearing: Euroclear / Clearstream
• UOP: Together with SEK111m cash on balance sheet, to redeem its existing EUR511m (SEK5.590bn) 8% sr sec 1.5 lien notes due 09-Nov-27 (callable 24-Jul-26 at 100) and SEK172.603m (EUR16m) 8.00% sr sec 1.5 lien notes due 09-Nov-27 (callable 24-Jul-26 at 100) new money bonds, pay fees and expenses. Intrum has also launched an exchange offer to holders of the New Money Notes who are non-US persons to exchange their New Money Notes for a pro rata allocation of new notes. The exchange offer expired 10-Jul-26.
• Biz: Leading European debt collection platform.
• HQ: Stockholm, Sweden
  Marketing:
• Investor Call: Held on 06-Jul-26 at 10:00 UKT / 11:00 CET
• Books closed: 3:15pm UKT 13-July-26

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DealRoadshow Entry Code: Lift2026

• Target Market: Manufacturer target market (MiFID II / UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document / DISC disclosure document has been prepared as not available to retail in EEA or the UK