Gruppo MutuiOnline S p A : Presentazione risultati esercizio 2023 (in inglese)

Full Year 2023 Results

March 15th, 2024

Disclaimer

Certain statements contained herein are statements of future expectations and other forward-looking statements. These expectations are based on management's current views and assumptions and involve known and unknown risks and uncertainties. The user of such information should recognize that actual results, performance or events may differ materially from such expectations because they relate to future events and circumstances which are beyond Company control including, among other things, general economic and industry conditions. Neither Gruppo MutuiOnline S.p.A. nor any of its affiliates, directors, officers employees or agents owe any duty of care towards any user of the information provided herein nor any obligation to update any forward-looking information contained in this document.

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Presenting Today

Marco Pescarmona	Alessandro Fracassi	Francesco Masciandaro
Group Chairman and Head of Broking Division	Group CEO and Head of BPO Division	Group CFO

• Founder and key shareholder (16.81% indirectly through Alma Ventures SA)
• Background in consulting (McKinsey) and banking (Morgan Stanley)
• Degrees in Electrical Engineering and Computer Science, MBA from MIT

• Founder and key shareholder (16.81% indirectly through Alma Ventures SA)
• Background in consulting (Booz Allen & Hamilton) in Italy and USA
• Degree in Industrial Engineering, MBA from MIT

• Background in auditing (Arthur Andersen) and in administration, fiscal and corporate affairs (Società Interbancaria per l'Automazione)
• Degree in Economics

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Agenda

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Business Description

Share Information

Business Update

Net Financial Position Update

Historical Performance

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Business portfolio

Online comparison and intermediation services operating with a portfolio of Italian and international brands

Credit

Broking

Insurance

Broking

E-Commerce Price

Comparison

Telco & Energy

Comparison

International

Markets

Broking Division

			Provision of complex Business Process
BPO
	Outsourcing services for specific verticals
Division
within the Italian financial services industry
		Mortgage
		BPO
		Real Estate Services
		BPO
		Loans
		BPO
		Insurance
		BPO
		Investment Services
		BPO
		Leasing & Rental
		BPO/IT

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Broking Division - Italian Brands

Brand	Description	Market Position	Operations	Revenue Model
	Multi-product aggregator	Strong number two	Focus on marketing activities,	Commission on new policy sales
	for insurance, personal	player in insurance	mostly TV and Internet. Relies	plus (lower) renewal fees from
	loans, mortgages, telco,	comparison, with large	on specialized group	insurance companies. Free for
	energy products with	gap vs followers. Other	companies for provision of	consumers, with no mark-up.
	brand-driven customer	products represent add-	comparison and	Same remuneration for other
	acquisition model. Focus	on and cross-selling	intermediation services for
	products as for specialized
	on motor insurance.	opportunity.	specific products.
	brands.
	Online Mortgage Broker	Strong leader in online	Experienced telephone	Commission from lenders on
	(vertical specialist),	mortgage distribution	consultants provide	closed mortgages (normally %
	comparison-based.	since year 2000.	independent advice and	of mortgage amount), one-off.
			qualify all online applications,	May include volume incentives.
			which are then transferred to	Free for consumers, with no
			chosen banks for closing. No	mark-up.
			packaging of loan documents.

Online Consumer Loan	Market leader in	Online lead generation for
Broker (vertical	online personal loan	lenders, with support of
specialist), comparison	broking and online	telephone consultants. No
based.	secured loans.	packaging.

Commission from lenders on closed mortgages (normally % of loan amount), one-off. Free for consumers, with no mark-up.

Online price and product comparison of physical goods sold by e-commerce operators

Market leader (not considering Google Shopping, object of EU fines for abuse of dominant position)

Click generation for merchants. Full integration of merchant catalogs. Over 3000 merchants, representative of Italian e-commerce market.

Mostly cost-per-click with differentiated pricing by product category, some cost- per-sale agreements

Price comparison and	Leading specialist	Telephone salesforce (Italy
promotion of	operator	and Albania) to convert online
telecommunications		leads.
and energy products

Mostly commissions on closed sales from product providers, some pay-per-lead and CPC agreements. Free for consumers with no mark-up.

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Broking Division - International Brands

Brand

Description

Market Position

Operations

Revenue Model

Multi-product aggregator, with focus on online insurance broking (motor, health, home, etc.) and wide offering of other products, including mortgages.

• 1 aggregator brand in Spain with strong brand awareness thanks to persisting TV advertising since foundation, with particular strength in online insurance broking.

Operates as regulated insurance and mortgage broker providing independent advice to customers. For ancillary product operates as lead generator. Customer acquisition thanks to online search and TV advertising.

Commissions on new intermediated policies. Free for consumers, with no mark-up. Percentage commissions on mortgage sales. Various remuneration models for other products.

Multi-product aggregator with sharp focus on online insurance broking (motor, health, etc). Fledgling offer of non- insurance products (e.g. energy).

Co-leader in France, market characterized by two main players and smaller followers.

Aggregator market not well developed mainly due to supply issues.

Operates as regulated insurance broker. Acquires customers mostly through online search, but historically also developed its brand with TV advertising.

Commission linked to new policy sales or client introductions. Free for consumers, with no mark-up.

Multi-product	Market pioneer and
aggregator with sharp	(profitable) co-leader in
focus on motor	Mexico, still an early
insurance comparison.	stage market.
Exploring broadening of
offering.

Model based on online customer acquisition and lead generation for insurance partners.

Commission on new policy sales or client introductions. Free for consumers, with no mark-up.

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Mortgage

BPO

Real Estate

Services

BPO

Loans

BPO

Insurance

BPO

Investment

Services

BPO

Leasing &

Rental BPO/IT

BPO Division - Main services

Product Life Cycle

	DISTRIBUTION		UNDERWRITING/CLOSING		SERVICING
•	Commercial activities for online	•	Income Analysis
	lenders (in lenders' name)	•	Technical-Legal Analysis
•	Centralized packaging	•	Anti-fraud checks
•	CRM activities for origination	•	Notary coordination services
	process	•	Contract drafting
•	Support for intermediary networks	•	Process coordination
		•	Real estate Appraisals	•	Current Account Servicing
		•	Technical real estate Analysis	•	Collections/Delinquencies
				• Certified RE Business information for NPL
					Management
•	Commercial activities through	•	Document analysis	•	Collections
	remote channels	•	Income Analysis	•	Claims
•	Centralized packaging	•	Anti-fraud checks	•	Portfolio analysis
•	Support for intermediary networks	•	Employer follow-up	•	Current account servicing
		•	Consolidation of other loans	•	Portfolio internalizations
		•	Closing preparation
•	Support for online distribution	•	Support for corporate policy	•	Appraisal and loss adjusting for
			contracts		multiple insurance areas (TPL,
					Medical, Motor)
				• TPA Services and complete claims
					processing outsourcing
•	Support for financial advisor	•	Fund subscriptions	•	Switches and exits
	networks	•	Insurance subscriptions	• Consolidation of fund orders
		• Anti-money laundering
• Full core IT platform support with	•	Leased or rented asset purchase	•	Current account servicing
	front end for distribution		and registration	•	Portfolio management BPO
		•	Contract finalization	•	Title management
		•	Full core IT platform for leasing	• Full core IT platform con leasing
			underwriting and closing		portfolio management
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Group structure

Headcount*

3,243 FTE

Group structure as of December 31st, 2023

* 2023 average	9

Broking Division structure

Group structure* as of December 31st, 2023

* In the diagrams, all participations are 100% owned, except those for which a different percentage is indicated.	10