Inter. Pers. Regulatory News (IPF)

30 August 2022

INTERNATIONAL PERSONAL FINANCE plc

(the "Company")

2022 Annual General Meeting (AGM) - Voting Results Update Statement

In accordance with the UK Corporate Governance Code, the Company is providing an update in relation to the results of the 2022 AGM vote to approve the Directors' Remuneration Report for the year ended 31 December 2021, which received the support of 77.82% of votes cast.

The Remuneration Committee ("the Committee") understands the sensitivities around the issue of executive remuneration, and care was taken to consult with major shareholders and proxy agencies in the months prior to the AGM. Notwithstanding the fact that a significant number of shareholders supported the resolution, the Committee accepts that a sizeable minority did not agree with the decisions taken, and as a result, the Committee Chair sought to re-engage with our largest shareholders to further understand the reasons behind the voting result.

Whilst the feedback received via this process has been positive and supportive, the Committee understands that decisions around the treatment of the outgoing CFO and the upward exercise of discretion in respect of annual bonus outcomes for 2021 gave some investors cause for concern. The Committee continues to believe that decisions taken in respect of the outgoing CFO were fair and reasonable given the specific circumstances, and that regarding annual bonus outcomes for 2021, the significant excess cash collected and its resultant impact on cash reserves, impairment and receivables warranted the exercise of discretion in this instance, not least because this outcome was clearly in the best interest of shareholders.

Ahead of a vote on a new Remuneration Policy in 2023, the Committee intends to maintain a proactive and open dialogue with major shareholders throughout the remainder of the year and beyond. A final update will be provided in the Directors' Remuneration Report of the IPF Annual Report and Financial Statements 2022, due to be published in March 2023.

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Legal Entity Identifier: 213800II1O44IRKUZB59