Investor Presentaiton

Navigating through regulatory changes Successful track record of adapting to interest cap regulation ■In late 2014, Estonia introduced regulation for an upper limit to the cost of consumer loans ■ While this led to the average yield decreasing, Ferratum started targeting customers with lower credit risk, which in turn had a very positive impact on credit losses Since introduction of the cap in 2014, Ferratum has seen strong profitable growth in its loan book in Estonia ■ In September 2018, the Swedish government introduced an interest/cost cap on consumer loans ■The initial development seen in Q4 2018 shows that the adoption of the interest rate cap in Sweden had little impact on the Group's performance ■ Credit losses are decreasing, new customers are being acquired and both revenues and the loan book is still increasing in Sweden ■ In essence, interest rate caps result in Ferratum tightening its scoring, which leads to better payment behaviour ■ While the revenues per granted loan decrease on average, the impact on profitability is mitigated through the de-risked profile of the customers, resulting in lower credit losses ■ As evident from 14 years of previous experience and a strong track record, Ferratum is well equipped to handle regulatory changes ■ While the operational parameters of a market may change, the Group has proven it is highly flexible and prepared to adapt to a new environment while retaining its growth track and profitability Case study: Introduction of interest rate cap in Estonia Index (Net sales 2014 = 100) Interest cap introduced in Q4 2014 18.9% 26.1% 17.8% 100 85 105 138 128 16 29 39 547 9.2% 373 301 5.9% 219 39 48 2014 2015 2016 Net sales Credit losses Net AR 2017 2018 Credit losses (% of Net AR) 1,089 Estonia shows successful conversion to new interest rate level Case study: Introduction of interest rate cap in Sweden Index (Net sales 2014 = 100) 417 Interest cap introduced in Q3 2018 646 670 566 490 466 6.2% 508 6.9% 7.4% 6.6% 5.0% 6.4% 449 5.9% Aanaanno 100 111 125 121 25 26 29 24 3.5% 155 157 128 140 34 36 45 23 Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Net sales Credit losses Net AR Q3-18 Q4-18 Credit losses (% of Net AR) Sweden Q4-18 results indicate successful conversion as well ferratum 19

View entire presentation