Investor PresentationAvida Holding AB

Johan Anstensrud, CEOOslo, April 4, 2017

Diversified, scalable and set for high growth

1

2

3

4

5

Reshaped, automated platform - well set up for growth across the Nordics

Diversified business - well positioned to capture large opportunity in the SME market in the Nordics

Renewed, strong management team that “has done this before” – set to do it even better this time

9

9

9

9

9

Scalable model – targeting SEK 10 Bn loan book by 2020

Shareholder friendly set up with long-term and active key shareholders

100%

1. Diversified model, allows for dynamic allocation of capital

• Diversified across sectors

• Loans and credit lines in all three countries

• Diversified risk categories and pricing

• Direct to end-customers and funding of smaller lenders

• Invoice financing & factoring of both consumer invoices and business invoices

• Business loans and credit lines focused on complete working capital solutions

• Specialized sales financing

• Invoice administration services• Collection Services (Sweden & Norway)

• Deposits from the public in Sweden

• Norwegian deposits to be launched in May 2017 to diversify funding facilities and provide a natural hedge of currency

• Finland planned early 2018

• Deposits approved by the Swedish National Debt Office (Riksgälden) and is thus covered by the state deposit guarantee (up to SEK 950,000)

• Fixed term deposits product is also planned

~80%20%

N

44%

36%

z22%

y23% 55%

485

’15 ‘16

1,656

’14

466

’13

321

’12

298

’11

216

CONSUMER FINANCEI BUSINESSII DEPOSIT ACCOUNTSIII

GEOGRAPHICAL SPLIT * SHARE OF NET LOANS *

~20%

GEOGRAPHICAL SPLIT * SHARE OF NET LOANS * GEOGRAPHICAL SPLIT * DEPOSITS (SEKm)

2016

11.4

2015

13.1

2014

14.1

2013

10.9

2012

8.2

2011

2.8

2. Reshaped and automated platform– well set up for aggressive growth across the NordicsAutomated, analytical and diversified Net loans to customers (SEKm)Net loans to customers (SEKm)

Pre-tax Profits (SEKm)

• A diversified niche financing company, established in 1983, focusing both on consumer finance and business lending in Norway, Sweden and Finland

• Started a new phase in late 2015 when Avida was acquired by its new owners, subsequent a new board and management was established

• Significant investments has been made to automate processes, improve analytical capabilities and increase the capital base to allow for the strong growth seen in 2016

• SEK 235m in new equity has been raised over the last 16 months – the majority directly from the new owners

• Looking to build a lasting competitive advantage in distribution and credit scoring by combining technology and automation with superior analytics, both for the consumer and SME market

• Fully automated solutions in Sweden, Norway and Finland – significant economies of scale

• Main focus on analytical prowess to ensure strong credit quality and in depth knowledge of each client

• Looking to further expand product offering in the SME/business segment, a segment that today is underserved by the banks

1,610

2015

503

2014

414

2013

303

2012

239

20162011

175

1,420

268

234

270

191112

210203

Geographical exposure (%)

Oct

1,401

Sep

1,244

Aug

1,060

Jul

862

Jun

698

May

637

Apr

587

Mar

554

Feb

539

Jan

509

Business

Consumer - FI

Consumer - NO

Consumer - SWConsumer Business

Nov Dec Jan

1,5281,610

1,790

23% 55%

43%

19%

38%

Feb

1,690

3. Scalable model – targeting SEK 10 bnloan book by 2020

Target volumes (SEKm) Target pre-tax Profits (SEKm)10,000

2020F2019F

7,500

2018F

5,000

2017F

2,800

2016

1,610

1,420

Consumer Business

420

2020F2019F

290

2018F

160

2017F

70

2016

11

SEK5bn in loans by 2018 and SEK420m in pre-tax profit in 2020

Potential to capture market leadership in SME financing

Agile and quick financing solutions to drive growth for our clients` Targeting high volume customers with development needs for tailored solutions. i.e. Godt Levert

` Combining credit lines, factoring, invoice management and insurance provides us with an holistic view of the clients needs

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9

Growth Financing and reduction of working capitalMany companies are working hard at reducing the need for equity (i.e. PE owned companies). More advanced combinations of purchases of invoices, inventory financing, cross border factoring combined with insurance products are allowing for this. Avida is targeting this market segment with the required tools and experienced people.

` Credit linked to invoice management

` Export financing with insurance

` Digital B2B factoring solutions

` Working capital asset financing

` Invoice lending

` Invoice purchasing with and without recourse

` Invoice administration

Specialized high volume solutions that require fast IT development` Significant financing niches open due to need for highly specialized technical solutions

` Very good customer lock in if highly integrated and specialized financing solutions are deployed9

4. Renewed management team

• Started in Avida as of November 2016• Selected experience: CEO in Infocare, Managing Director in Bisnode,

Enterprise Director in Microsoft and Engagement Manager in McKinsey• M. Sc. in Industrial Engineering from the Norwegian Institute of Technology

and MBA from Harvard University

Johan Anstensrud – Chief Executive Officer– 560 000 shares

• Started in Avida as of October 2015• Selected experience: Co-Founder in ITL Group, CFO in Arvato Nordics, CFO

in Gothia Financial Group, Finance Director in G4S Norge and CFO in The East Asiatic Co / Heidelberg (Beijing, China)

• M. Sc. in Finance & Accounts (Auditing) from Århus Business School

Lars Dencker Nielsen – Chief Financial Officer –1 744 000 shares

• Started in Avida as of May 2016• Selected experience: Senior Advisor in Centigo, Head of Management Control

in Länsförsäkringar Bank, Head of IT in DnB NOR Bank (Sweden), Director Capital Markets as well as Director IT in Svenska Handelsbanken

• M. Sc. in Business and Economics and B.Sc. in IT from Halmstad University

Katrin L. Wallin – Chief Information Officer –68 000 shares

• Started in Avida as of May 2016• Selected experience: Risk Director in Santander Consumer Bank

(Sweden), Head of Credit & Risk in Marginalen Bank, Head of Credit & Risk in Citibank Consumer Bank and Manager in KPMG

• B. Sc. in Public Administration from the University of Stockholm

Martin Ahlberg – Head of Consumer –100 000 shares

• Started in Avida as of November 2015• Selected experience: CEO in Arvato, Sales and Marketing Director in

Gothia, Sales and Marketing Director in Aktiv Kapital, Head of Football at Football Association of Norway and Police Constable at Oslo Police District

• B. Sc. in Police Studies from the Norwegian Police University College

Tore Krogstad – Head of Business (NO) –308 000 shares

• Started in Avida March 2017• Selected experience: Head of Corporate in Collector Bank as well as

Head of Products within Corporate Banking in Marginalen Bank• Several courses within Business, Strategy, Management and Marketing

from IHM Business School, UC Business School and ESI International

Jessica Sparrfeldt – Head of Business (SE & FI) –41 000 shares

• Started in Avida November 2016• Selected experience: Partner Bridgehead, Chief Analyst Aktiv Kapital,

Chief Analyst PRA Group Europe• BI, Business School, Oslo

Øystein Dannevig – Chief Analyst – 41 000 shares

5. Shareholder focused company

I

II

IV

Growth

Return on equity

III Capital ratios

Dividend policy

� Significant growth opportunity; realistic target of SEK 10 Bn loan book by 2020 by pursuing opportunities in both consumer and business

� Dynamic allocation of capital to products/segments with best risk/reward

� Target return on equity of more than 25% in line withindustry average

� Lower ROE in the short term due to investment in organizationand infrastructure

� Current CET1 ratio target of ~13%� Current total capital ratio target of 14.5-15.0%� SEK 208 million raised from Oct 2015� Will leverage capital markets for both debt and additional equity

to grow intelligently

� Target dividend payout ratio of 35%� No dividend payments in short / medium term due to growth

focus

5. Active key owners

• Chairman in Avida Holding AB since October 2016• Selected experience: Partner in Ubon Partners, Board

Member in PRA Group, Board Member in Acano, CEO in Aktiv Kapital, VP of Telepresence Sales in Cisco, President of EMEA in Tanberg and Manager in McKinsey

• M. Sc. in Economics and Business from Norwegian School of Economics

Ubon Partners - Geir Olsen* – Chairman – 13 134 000 shares (28.1%)**

• Board Member in Avida Holding AB since October 2016

• Selected experience: Board Member in Storebrand, Partner in Magni Partners and Head of Bank and Insurance Research in DNB Markets

• M. Sc. in Finance from Norwegian School of Management (BI) and Università Commerciale 'Luigi Bocconi‘ (Milan, Italy)

Magni Partners (Trøim) - Håkon Fure* – Board Member –11 351 000 shares (24.3%)***

Note(*) members of the board of both Avida Holding AB and Avida Finans AB | Note(**) owns 1/3 of Whiteout | Note (***) indirectly through Magni Partners

• Board Member in Avida Holding AB and Finans AB since October 2015

• Selected experience: Partner in Icon Capital, Partner in McKinsey, VP in Merrill Lynch International and Associate in Credit Suisse First Boston

• B. Sc. In Business Administration from University of Denver and MBA from Kellogg Graduate School of Management

Icon Capital - Christian Bjørnstad* – Board Member – 10 890 000 shares (23.3%)

• Board Member in Avida Holding AB since October 2015• Selected experience: Owner, CEO, Executive Chairman and Board

Member of several companies within the Midelfart conglomerate• B. Sc. in Finance from the London School of Economics as well as

Stern School of Business at New York University

Celina Midelfart* – Board Member – 4 363 000 shares (9.4%)

Diversified, scalable and set for high growth

1

2

3

4

5

Reshaped, automated platform - well set up for growth across the Nordics

Renewed, strong management team that “has done this before” – set to do it even better this time

9

9

9

9

9

Scalable model – targeting SEK 10 Bn loan book by 2020

Shareholder friendly set up with long-term and active key shareholders

Diversified business - well positioned to capture large opportunity in the SME market in the Nordics

APPENDIX

I About Avida Finans

II Market overview

Whiteout AS (Ubon Partners) 1 420 000

Cumulus Associates AS (Johan Anstensrud) 560 000

Håkon Fure 355 000

IC Financial AS (ICON Capital) 355 000

Larger shareholders

Top 20 shareholders as of 24.03.2017 Outstanding warrants as of 24.03.2017

Profitable growth across the Nordic region through insight and new products

• Targeting SEK5bn in 2018 and SEK10bn by 2020 through growth in consumer and business segments

• Broaden business/SME product offering around existing factoring and receivables offering more comprehensive loans and cross boarder products

IContinued strong growth withinconsumer finance and business SME markets across Norway,

Sweden and Finland

IV

Digitalizedprocesses and productsIII

Actively leverage capital markets in order to adjust

capital position according to growth ambitions

II Big data / analytic driven sales,scoring and follow up

Avida is looking to build a lasting competitive advantage in distribution and credit scoring by combining technology and automation with superior analytics

• Aim for building best in class big data analysis and analytics department• Focus on building access to more analytics and data on both customers

and potential customers• All customer decisions are planned to be data driven

• Fully automated systems in consumer finance – pioneering similar offering in the much larger Nordic Business/SME market

• All analytics to be supported by digital data collection and automated decision systems

• Growth will be adjusted to the Company’s ability to find and develop profitable niches with attractive return on equity

APPENDIX

I About Avida Finans

II Market overview

Specialist players gaining momentum – example consumer lending, but expanding to business

Consumer lending, Norway Lending volumes and market shares, niche players

Source: Companies, Norwegian FSA, DNB Markets. Niche players: Bank Norwegian, Komplett Bank, Nordax, yA Bank and Monobank.

0

10

20

30

40

50

60

70

80

90

100

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

NO

Kbn

Norwegian consumer loans

5%

10%11%

14%

17%

20%

25%

31%

0%

5%

10%

15%

20%

25%

30%

35%

0

10

20

30

40

50

60

70

80

90

100

2009 2010 2011 2012 2013 2014 2015 2016

NO

Kbn

Lending volumes other

Lending volumes niche players

Market share, niche players (RHS)

Underlying potential for continued volume growth and attractive margins in consumer lending

120100

806040200

2015

116.3

2014

108.2

2013

106.8

2012

102.1

2011

102.4

2010

90.0

• Since 2010, consumer credits have increased by an average of ~5% annually

• Sweden’s central bank adopted a negative interest rate policy from early-2015 to boost the economy and consumer spending

• Regulatory body Finansinspektionen introduced stricter credit checks and supervision in consumer credit from July 2014

Consumer lending * in % of household debt **

Consumer lending * in % of consumption **

Sweden – consumer credit market, excl. cards (SEKbn)

12% 12%11%

9%

7%6%

5%

4%

3%

NO

NL

DK

SE

FI

DE

PL

FR

GB

16%

13% 13%12% 12%

11% 11%

7% 7%

NO

FI

NL

PL

SE

DE

DK

FR

GB

Finland – consumer credit market, excl. cards (EURbn)

Norway – consumer credit market, excl. cards (NOKbn)

80

60

40

20

02015

66.2

2014

65.1

2013

62.9

2012

58.7

2011

58.6

2010

57.0

• Since 2010, consumer credits have increased by an average of ~3% annually

• Borrowers are taking advantage of low interest rate environment by increasing borrowing

• Good profitability has attracted several new entrants in recent years

0

6

10

8

2

4

8.7

2010

8.4

2015

9.4

2014

9.0

2013

8.7

2012

8.9

2011

• Since 2010, consumer credits have increased by an average of ~2% annually

• Low consumer finance penetration measured in percent of total household debt as well as overall household consumption

• Finnish consumer market moderately crowded with positive future outlook

Note(*) Definitions may vary accross countries Note(**) Based on 2015 figures – source OECD, Euromonitor, Statistics Sweden, Statistics Norway and Bank of Finland

Corporate lending opporunity significantly larger – 15x

1 340

1 0661 014

+4%

2015

1 2631 189

1 3291 210

2011

1 135

20142013201220102009 2016

Norway

Outstanding loans in Nordics corporate lending market, SEKbn1

1. 2016 average exchange rate applied for all years: EUR/SEK 9.4704, NOK/SEK 1.0199 (Riksbanken)Source: FCI

20152012

+3%

2014

1 9411 994

2013

1 8741 825

2009

1 676

20112010

1 7061 856

2 072

2016

1 687

20102009

1 5081 603

2016

2 054+5%1 921

1 776

20142012

1 989

2013 2015

1 847

2011

Sweden Finland

STOCKHOLMVisiting address:Södermalmsallén 36

Postal address:Postbox 38101100 64 Stockholm

Contact information:Phone: +46 08-56420100Email: info@avida.se

OSLOVisiting address:Grenseveien 92

Postal address:Postbox 6134 Etterstad0602 Oslo

Contact information:Phone: +47 23335000Email: info@avida.no

HELSINKIVisiting address:Itsehallintokuja 6

Postal address:Vänrikinkuja 302600 Espoo

Contact information:Phone: +358 7575 50070Email: luotto@avidafinans.fi