Investor Presentaiton

Ferratum Group Cash Flow Statement Comments ■ As of the end of FY 2018, the Group's cash position stood at EUR 115.6 million, with the decrease from 2017 stemming primarily from strongly increased lending ■ Net cash from operating activities has grown from EUR 46 million in 2015 to EUR 122 million in 2018 Impairments on loans is a non-cash item as according the Group's credit policies, expected credit losses are recognized in the income statement when paying out a loan ■ As the Group's receivables portfolio has increased, actual loan write-offs have also increased from EUR 30 million in 2015 to EUR 40 million in 2018 ■ Net investments have been steadily growing in the last couple of years, however still constituting a low percentage of sales ■ Investments in 2018 were primarily related to purchase of tangible and intangible assets with the Group's IT platform and infrastructure of key focus Net cash from operating activities¹ (EUR thousands) Cash flows from operating activities Profit/loss for the period Adjustments for: Depreciation and amortisation Finance costs, net Tax on income from operations Transactions without cash flow Trade payables and other current liabilities Interest paid Cash flow statement EUR '000 2018 2017 2016 2015 19,274 20,058 12,961 10,928 5,223 2,811 1,547 1,309 15,466 8,594 6,414 4,059 3,060 3,185 1,768 1,491 2,429 1,263 399 -324 Impairments on loans 88,496 75,629 47,964 34,687 Working capital changes: Other current receivables and government stocks 1,608 -813 -16,848 -2,115 1,543 6,991 4,404 939 -11,176 -6,892 -4,434 -3,313 82 41 163 20 -385 -121 -3,994 -1,720 -3,094 -1,206 122,010 109,147 50,859 46,354 9,104 72,865 98,426 873 -131,568 -89,233 -91,120 -50,179 -39,909 -59,456 -34,431 -29,737 -40,363 33,323 23,734 -32,689 Net cash from investing activities -16,802 -11,329 -8,266 -5,450 Cash flow from financing activities Proceeds from share issue Interest received Other financing items Income taxes paid Net cash from operating activities before movements in loan portfolio and deposits received Deposits received Movements in gross portfolio Fully impaired portfolio write-offs Net cash from operating activities 46,354 50,859 2015 2016 109,147 2017 Source: Company filings. Note: 1) Before movements in loan portfolio and deposits received 48,171 122,010 Expenses related to share issue Proceeds from short-term borrowings Repayment of short-term borrowings Proceeds from long-term borrowings Repayment of long-term borrowings Dividends paid / distribution of funds Net cash from financing activities -1,923 20,000 24,817 -24,983 -100 -198 -17,563 98,013 35,000 49,338 20,020 -45,138 -18,133 -6,125 -3,890 -2,594 -2,158 -1,079 44,003 38,990 40,857 47,626 2018 Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the period Exchange gains/(losses) on cash and cash equivalents Net increase/decrease in cash and cash equivalents Cash and cash equivalents at the end of the period -13,162 60,984 56,325 9,487 131,832 73,059 17,452 8,026 -3,111 -2,212 -717 -59 -13,162 60,984 56,325 9,485 115,559 131,831 73,060 17,452 ferratum 40 40

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