Gruppo MutuiOnline First Quarter 2011 Results 17 th May 2011 - PowerPoint PPT Presentation

Gruppo MutuiOnline First Quarter 2011 Results 17 th May 2011

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. Neither this presentation nor any part or copy of it may be taken or transmitted into the United States (US) or distributed, directly or indirectly, in the US or to any “US person”, as that term is defined in the US Securities Act of 1933, as amended, (the “Securities Act”). Neither this presentation nor any part or copy of it may be taken or transmitted into Australia, Canada, Japan or to any resident of Japan, or distributed directly or indirectly in Australia, Canada, Japan or to any resident of Japan. Any failure to comply with this restriction may constitute a violation of US, Australian, Canadian or Japanese securities laws. This presentation does not constitute an offer of securities to the public in the United Kingdom. Persons to whom this presentation is shown should observe all restrictions. By attending the presentation you agree to be bound by the foregoing terms. 2

Presenters today •Group Chairman and Head of Broking Division •Founder and key shareholder (16.25% indirectly through Alma Ventures SA) •Background in consulting (McKinsey) and banking (Morgan Stanley) •Degrees in Electrical Engineering and Computer Science, MBA from MIT Marco Pescarmona •Group CEO and Head of BPO Division •Founder and key shareholder (16.25% indirectly through Alma Ventures SA) •Background in consulting (Booz Allen & Hamilton) in Italy and USA •Degree in Industrial Engineering, MBA from MIT Alessandro Fracassi 3

Share performance 6 th June 2007 (IPO date) – 11 th May 2011 2.000 6,5 1.900 1.800 6,0 1.700 1.600 5,5 1.500 MOL Total Return vs. MOL vs.FTSE ITALIA STAR 1.400 5,0 1.300 0,15 1.200 4,5 0,10 0,05 1.100 0,00 1.000 4,0 -0,05 900 -0,10 -0,15 800 3,5 -0,20 700 -0,25 600 3,0 -0,30 -0,35 500 -0,40 400 2,5 -0,45 -0,50 300 -0,55 200 2,0 -0,60 -0,65 100 -0,70 0 1,5 7 7 7 7 7 7 7 8 8 8 8 8 8 8 8 8 8 8 8 9 9 9 9 9 9 9 9 9 9 9 9 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / u g o t t v c n b r r g u g o t t v c n b r r g u g o t t v c n b r r g u g o t t v c n b r r g e t a p e t a p e t a p e t a p g i u g o o i e e a g i u g o o i e e a g i u g o o i e e a g i u g o o i e e a s d m a s d m a s d m a s d m a l a n g f m l a n g f m l a n g f m l a n g f m 7 7 7 7 7 8 8 8 8 8 8 8 8 8 9 9 9 9 9 9 9 9 9 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 1 1 1 1 / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / u g o t v n b r g u g t t v n b r g g o t t c n r r g g o t v c b r r a p a p a p t e t e t e i u g o o e e a i u o o e e a u g o i e a u g o i e g g d d m s a s m a s m a l a n g f l n g f l a g l a n f m m m Volumes ('000 shares) Price 4

Current shareholding structure Shareholding structure as of 17th May 2011 * Treasury shares; 5,04% Free float; 21,31% Alma Ventures**; 32,50% 360 Capital One; 2,60% Stefano Rossini; 4,32% Parvus Asset Management (UK) LLP; Capital Research & 10,34% Management Company; 4,97% Index Venture Growth; Algebris Investments (UK) 8,76% Investoren TGV; 5,00% LLP; 5,16% * Share ownership as communicated to the company by relevant investors according to CONSOB regulations; includes all investors above 2% ownership threshold. ** The share capital of Alma Ventures S.A. is owned 50% by Guderian S.r.l. and 50% by Casper S.r.l.; Guderian S.r.l. is 100% owned by Marco Pescarmona (Chairman and co-founder) Casper S.r.l. is 100% owned by Alessandro Fracassi (CEO and co-founder). 5

Business portfolio Broking BPO 2010: Rev. €32,8m EBIT €18,6m DIVISION 2010: Rev. €20,6m EBIT €3,4m 3M 2011: Rev. € 9,0m EBIT € 4,2m 3M 2011: Rev. € 6,8m EBIT € 1,2m Multi-brand Multi-brand Multi-brand Multi-brand Employee broking of broking of broking of Remote Mortgage insurance loan BUSINESS mortgages consumer mortgages mortgage underwriting underwriting broking through loans through packaging and closing LINE through and closing Internet and through physical services services Internet services telephone Internet network BRAND/ SERVICE SIZE/REVENUES €20,0m €10,6m €1,6m €0,7m €3,9m €11,5m €5,3m 2010 6

Q1 highlights Revenues EBIT (€m) (€m) 8 Y-o-Y 5,4 6 18 5,0 +6.5% 15,8 4 16 Y-o-Y 2 +38.7% 14 11,4 0 12 Q1 10 Q1 11 10 EBIT margin 44% 34% 8 6 Net Income* (€m) 4 8 2 6 0 3,8 Y-o-Y 3,5 4 Q1 10 Q1 11 +7.9% 2 0 Q1 10 Q1 11 NI margin 31% 24% 7 * Attributable to the shareholders of the Issuer

Q1 segment reporting EBIT Revenues (€m) (€m) 15,8 8 16 Y-o-Y 5,4 6 5,0 Y-o-Y +6.5% 14 +38.7% Y-o-Y 4 4,7 Y-o-Y 4,2 -12.1% 11,4 12 +18.9% 9,0 2 Y-o-Y 1,2 10 0,3 +228.1% 0 Q1 10 Q1 11 8 7,6 Broking Division BPO Division 6 Y-o-Y 6,8 4 +77.8% EBIT margin 3,8 2 0 Q1 2010 2010 Q1 2011 Q1 10 Q1 11 Broking Division 63% 57% 46% BPO Division 8% 17% 18% Broking Division BPO Division Total 44% 41% 34% 8

Broking Division business update Q1 2011 showed an increase of the revenues of all the Business Lines of the Broking Division, but also an important increase of marketing costs, in a context of weak demand for the financial products brokered by the Division. • MutuiOnline Business Line : In Q1 2011, mortgage application inflow increased on a year-on- year basis, helped by a strong increase of marketing costs. Remortgage (“ surroga ”) applications, in the quarter, represented less than 30% of the total, down compared to previous periods. In Q1 2011 brokered volumes increased on a year-on-year basis, partially due to the effect of the strong demand of Q4 2010. While we expect slight growth, a situation of overall instability remains, due to the weakness of demand caused by the lack of recovery of the real estate market and by the decreasing appeal of refinancing in the current interest rates environment, as well as to the uncertainty of supply in a complex funding situation for many banks. • PrestitiOnline Business Line : In Q1 2011 loan application inflow increased on a year-on-year Broking basis. The volume of brokered personal loans increased on a year-on-year basis too. The Division perspective of increasing volumes of brokered personal loans during the following quarters still remains unchanged. Regarding employee loans, during the quarter our main product provider, which had previously ceased to operate, was substituted with another lender, belonging to a primary banking group. • CreditPanel Business Line : In Q1 2011 the mortgage application inflow and brokered mortgage volumes increased on a year-on-year basis. A trend of stable revenues or slight growth is foreseeable for the rest of the year 2011. There is no news about the issuing of the implementing regulations concerning the new law on credit intermediaries, whose publication is a pre-requisite for some further steps of reorganization of the Business Line. • Cercassicurazioni Business Line : In Q1 2011 all the main revenue drivers showed a strong increase on a year-on-year basis. The growth is significant also on a quarter-on-quarter basis. We continue to invest in marketing and in efforts to optimize the business, which is still in an early stage with significant cash absorption. 9