CREDIT CORP GROUP LIMITED — Management Reports 2012

May 15, 2012

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Market Update – 16 May 2012

Thomas Beregi Chief Executive Officer

Michael Eadie Chief Financial Officer

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Strong earnings growth continues

Financials to April 2012

versuspcp	YTD Actual 10 Months to Apr12 Feb 12 FY12 Guidance
PDL acquisitions up3% to	$77.8m $75 - $85m
Revenue up11% to	$104.4m
NPAT up23% to	$22.0m $25 - $27m
EPS(basic) up21% to	48.0 cents 55 - 59 cents

Unaudited management accounts

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2

Further strengthening of balance sheet

	Ten months ended	Ten months ended
$ million	30 Apr 12	30 Apr 11
Operating cash flow	115.4	96.3
PDL acquisitions, lending and capex	(83.7)	(78.2)
Free cash flow	31.7	18.1
PDL / loan book carrying value	139.2	147.0
Net bank debt	1.9	29.5
Net debt / carrying value (%)	1.4%	20.1%

Unaudited management accounts

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3

Purchases meet ingoing projections…

Cumulative Collections (Initial Expectations versus Actual)

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(Jul 08 – Apr 12)
750
700
650
600
Actual
Cumulative 550
Cash
Collections 500
Collections
$m 450
400
350
300
250
Initial
200
Projections
150
100
50
-
Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Apr-12
Note: For all PDL’s held at June 2008, initial projections represent the forecast prepared as at June 2008
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4

…and we continue to drive collections from older PDLs…

PDL Collections by date of purchase

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60.0
$m
55.0
50.0 28%
27%
27%
45.0
31%
32% 34% 34%
40.0 31% 9%
> 3 years
31% 31% 31% 10% 12%
35.0 19% 29% 8% 2-3 years
30.0 27% 28% 11% 7% 7% 20% 1-2 years
15% 20%
18% 18% 23%
25.0 21% 21% 19% 15% 16% 18% < 1 year
20% 22%
20% 13%
20.0
13%
36% 15% 12%
15.0 22%
10.0 31% 29% 37% 41% 42% 43% 41% 43% 43% 43% 38%
36%
33%
5.0 27% 27%
22% 23%
0.0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 4 Mths
Sep 08 Dec 08 Mar 09 Jun 09 Sep 09 Dec 09 Mar 10 Jun 10 Sep 10 Dec 10 Mar 11 Jun 11 Sep 11 Dec 11 Apr 12
pro-rated to a quarterly average
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5

…while maintaining collection efficiency

Debt Purchase Productivity (direct collection staff only)

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$300
$288
$257
$269 $269 YTD FY12
$261
$275 $268 $260 Average
$263 $275 $256 2011/12 $226
$243
$250 $245 $249 $239 2011/12 $266
$241
$231 $224 Ex-Philippines
PDL $230 $257
Collections $224 $225 2010/11 $238
$236
per hour $225 $232
$227 $226 $245 $222
$225 $219
$238
$231 $212
$213
$200 $218
$175
$150
May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12
Note: Recent dilution due to Philippines expansion. Ex-Philippines result shows solid underlying productivity
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6

Our strong payers base suggests this will continue

Total Portfolio	Apr 12	Dec 11	Jun 11	Dec 10	Jun 10	Dec 09
Face value	$3.6bn	$3.4bn	$3.2bn	$2.9bn	$2.6bn	$2.5bn
Number of accounts	578,000	496,000	413,000	319,000	302,000	306,000
Payment arrangements
Face value	$640m	$627m	$598m	$542m	$476m	$392m
Number of accounts	88,000	83,000	77,000	71,000	66,000	57,000
% of PDL collections	70%	71%	70%	70%	68%	66%

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7

We continue to increase collection capacity

Headcount by function (FTE)

0 100 200 300 400 500 600 700 800
			FY09	FY10		FY11			Dec 11
		Function			FY09		FY10	FY11		Dec 11	Apr 12
		Debt Purchase Ops			435		516	615		644	727(1)
		Mercantile			4		4	4		4	4
		Support / New Initiatives			50		55	64		83	95
		Total			489		575	683		731	826
		Support / New Initiatives %			10%		10%	9%		11%	12%

88

Strong FY12 purchasing will underpin solid profits in FY13

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Purchases
$m
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$92.6m
FY12 Purchasing
$65m Guide: $84 - $88m
Contracted
$37m $84m
as at Apr 2012
FY09 FY10 FY11 FY12
Actual Actual Actual Current
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9

We continue to maintain our purchasing discipline

• Strong levels of competition to secure PDLs have continued to keep prices at high levels

• Credit issuers in low growth / cost reduction mode are taking advantage of high prices by selling increased volumes

• Operational improvements have put us in a good position to secure increased volume despite higher prices

• We continue to maintain our disciplined approach and have only made purchases where minimum return criteria are met

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10

Consumer lending delivers positive early results

• Targeting consumers with impaired credit records

• Launched two products during H1

• instalment loans < $5,000

• debt consolidation loans

• Current loan book of $4.0 million

• To date arrears remain within expectations

• Net yield on loan book similar to PDLs (after losses and costs)

• Further products scheduled for launch in coming months

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11

US debt purchasing operation on track

• Purchasing in partnership with a local private buyer / collector

• Outlay to date of $1.8 million

• Early collections are in line with expectations

• Credit Corp operations manager relocated to the US to work with our partners

• Direct collections by Credit Corp staff scheduled for first quarter 2012/13

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12

Refined guidance

FY12	FY12	FY12
	Updated May 12	Issued Feb 12
PDL acquisitions	$84 - $88m	$75 - $85m
NPAT	$26 - $27m	$25 - $27m
EPS (basic)	57 - 59 cents	55 - 59 cents

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13

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Market Update – 16 May 2012

Questions

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