1. Mr Guy Colpaert Managing Director, Intrum Justitia Belgium

2. Only true pan-European CMS provider, with operations in 20 countries Listed on Nasdaq OMX Stockholm Global network of partners covering 160 countries Founded in 1923 Intrum Justitia is the leader in Credit Management Services in Europe with worldwide coverage

3. European Payment Index 2014 Since 1998 Guy Colpaert Managing Director Intrum Justitia Belgium g.colpaert@intrum.com

4. The survey started in 1998 on request from and with a workgroup of European Commission – for a limited number of countries, in 2004 the first report with the majority of European member states was published Leading insights in payment risks, business sentiment and behavior across Europe with historical overviews In 2014 + 2 New countries, Serbia and Bosnia- Hercegovinia More than 10.000 CFO’s/CEO’s/Financial experts responded to the EPI 2014 survey in 31 EU countries + Turkey and Russia European Payment Index (EPI)

5. EU 27 500 million inhabitants Non financial business economy 20 million enterprises Employing 125 million persons 26 million persons unemployed SME’s (97%) are the motor of the EU economy Europe Source: Eurostat

6. European Payment Index 2014 - results

7. 6(27) Risk Index

8. From 3,0% to 3,1% Bad debt loss %

9. Evolution bad debt loss %

10. Average payment duration Europe Belgium B-2-C -25% compa red to 2012

12. Average payment duration Europe Belgium B-2-B +11,76 % compa red to 2009

13. 87 Wordt 85

14. Late Payment Directive questions 2014 Belgium Yes 36% No 70% Yes 47%

15. Average payment duration Europe Belgium public sector - 25,81 % compa red to 2009

17. Facts findings EPI 2014 : Belgium 58% forecast payment risks will increase 42% report zero organic growth 24% do not intend to hire new employees 74% see no positive changes for their business

18. 17(27)

19. Respondents Belgium 18(27)

20. Outstanding receivables decrease in value over time Time Collectability of Claims in % 100% 50% 0% Due date Normal country Specific delay High Collectability Medium Collectability Low Collectability Statue of limitation ~ 90 days (~75%) ~ 6 months (~ 60%) ~ 1 year (~ 45%) ~ 2 year (~ 30%) On average 56% of EU businesses wait 80 days before handing over their claims to a professional CMS provider. 39% say they never hand over claims. 57% of Belgian businesses use a professional provider, but wait 91 days before handing over

21. Bad debt/payment loss is very costly and requires extra sales efforts to make up for it Extra costs for administration and staff Bad for cash flow position To make up for payment loss, extra sales is needed!

22. 21(27)

23. Belgium; 10% dismissing employees and 24% are not hiring new employees due to late- and non payments

25. In Belgium 58% due to late payments 55% due to the recession

26. 25(27)

27. Late Payment Directive questions 2014 Belgium Yes 36% No 70% Yes 47%