B2 Impact ASA

Earnings Release • Jan 9, 2026

B2 Impact ASA

Arctic Nordic Debt Collection Webinar

9 January 2026

Today's presenter

André Adolfsen Chief Financial Officer

This is B2 Impact

Key financials¹

	LTM
NOK million	Q3'25
Revenues	3 718
Opex	-1 951
EBIT	1 667
EBIT %	45%
Net profit	657
EPS	1.78
Cash revenue	6 531
Cash EBITDA	4 579
Cash margin	70%
Leverage ratio	2.0x

2025 highlights

• ✓ Sustainable strong collection performance and ERC growth
• ✓ Upside in book values and ERC
• ✓ Significant growth in investments from previous year
• ✓ Reinvested strong cash flow from REO sales fuelling future EPS growth
• ✓ NOK 40m lower annual interest cost with latest bond issue
• ✓ Growth in EPS of 74% last 12 months (LTM)
• ✓ Expected dividend of at least NOK 1.7 per share for 2025

2026 priorities

• → Stable top line growth with notably higher growth in EPS
• → Investments mainly focused on unsecured
• → Cost control and increased automation
• → Leverage ratio below 2.5x
• → Increased dividends

Key value drivers for EPS growth

• Double digit growth in unsecured collections
• Increased collections performance
• ERC upside reflected in positive revaluations
• Gross IRR equal to Net IRR in the near term due to cost reductions and scalability
• Significant reduction in interest costs
• Increased investment level in 2025 to boost further EPS growth in 2026

Sustainable collection over-performance

• Unsecured collections growth of 29% last 5 years
• Unsecured performance of 110% LTM despite positive revaluations of NOK 427m from 2021 to Q3 2025
• Substantial upside in Book Values and ERC through strong collection performance over time

Strong cash earnings supports investment growth and high dividends combined with low leverage

Cash flow LTM Q3 2025

NOKm

Dividend per share (NOK)¹

Solid financial position with secured long-term funding cost

• Reduced annual interest costs by NOK 40m through latest refinancing
• Hedging ratio at 72% with almost 3 years duration
• Liquidity reserve of ~EUR 400m + operational cash flow

Debt and interest cost (NOKm)

Capital Structure (EURm)

Financial expectations for 2025

Portfolio investments (NOKbn)

REO sales (NOKm)

Increased dividends¹

• REO sales of around NOK 700m
• Leverage ratio comfortably below 2.5x
• Annual portfolio revaluations of NOK 150–200m in 2025–2027
• Dividends of at least NOK 1.7 per share

Key takeaways – Balancing low credit risk with high dividend potential

Strong collection performance and ERC growth

Scalable cost base

Low cost of debt with low credit risk

Large upside in book values and ERC

High and increasing dividends

Q&A

b2-impact.com

IR contact

Rasmus Hansson Head of Investor Relations and M&A +47 952 55 842 rasmus.hansson@b2-impact.com

B2 Impact

Cort Adelers gate 30, 7th floor 0254 Oslo, Norway

+47 22 83 39 50 post@b2-impact.com