Intertrust presents its strategic ambitions for 2021

Amsterdam, the Netherlands - 20 September 2018 - Intertrust N.V. ("Intertrust" or "Company") [Euronext: INTER], a leading global provider of expert administrative services to clients operating and investing in the international business environment, today presents its strategic ambitions and medium term guidance at its Capital Markets Day in London.

Chief Executive Officer Stephanie Miller, Chief Commercial Officer Henk Pieter van Asselt and Chief Financial Officer Hans Turkesteen will present on the Company's purpose and strategic ambitions, commercial strategy, and financial and medium term guidance for the period 2019-2021 respectively. The Company's strategy is aimed at becoming a tech-enabled Corporate and Fund solutions provider to deliver sustainable value to its stakeholders, and will focus on:

1. Clients & Services

Intertrust will be capturing opportunities to expand and diversify our service offering, both organically and through M&A, with a strong focus on Fund Administration and Capital Markets. Disciplined M&A is back on the agenda with the United States and Asia as priority regions. To strengthen its competitive positioning Intertrust has started to explore the use of shared services for some of its core activities.

2. Innovation & Technology

To serve changing client needs Intertrust will continue to invest in technology to lead the transformation of its industry. Intertrust's ambition is to develop its technology foundation to provide its clients with insight, transparency and control through portal technology. In addition, Intertrust's investment in technology allows the Company to create a safe and scalable platform to enable further growth, while increasing operational and cost efficiencies.

3. People

Intertrust is focused on creating an environment for people to grow, perform and succeed, which is a key condition to develop and maintain a dynamic and engaged global talent pool. Intertrust's ambition is to be the employer of choice of our industry by continuously investing in its highly educated staff through a wide range of learning programmes, providing a purpose-led and value-driven culture, and attracting specialised capabilities for future needs.

Financial guidance 2019-2021
Intertrust's strategic ambitions have led to the following medium term financial outlook:

• Underlying revenue growth of 3-5% year-on-year
• Adjusted EBITA margin growing to more than 38% by 2021, from at least 36% in 2019 reflecting three near-term impacts:
  • Investment in cost efficiency measures
  • Investment in business development and new solutions
  • Mix impact from slower growth in the Netherlands and higher growth in ROW
• Capex around 2% of revenue
• Effective tax rate around 19%
• Dividend policy of at least 40% of adjusted net income, and
• Target leverage of around 3.0x

Stephanie Miller, CEO of Intertrust, commented:
"Today we introduce our new purpose, which is to enable global businesses to grow sustainably. Our purpose will help us to shape our strategies, culture and ability to transform. At Intertrust, we help clients with their administrative challenges to grow in an increasingly complex global environment, and implement solutions to operate their business efficiently and responsibly. Focusing on compliance, business ethics and transparency, we take care of our clients' legal, administrative and regulatory duties in international business. We are enablers. We are navigators. And we are gatekeepers.

"While our purpose describes the important work we are doing and why, our strategic ambitions and medium term guidance that we will present explain how we will lead the company in the coming years. These ambitions will drive our transformation from an expert administrative service provider to a provider of tech-enabled corporates and funds solutions. I look forward to this journey which is aimed at creating sustainable value for our clients, employees and shareholders."

Additional information

Webcast
Presentations will start at 12:30 UK time (13:30 CET), and last until approximately 16:30 UK time (17:30 CET), including short breaks. The presentations can be followed via a live audio webcast which can be accessed via the Investors section of the Company's website. The presentations can be viewed within the webcast viewer but will also be available to download from our website shortly before the start.

About Intertrust
Intertrust is a global leader in providing expert administrative services to clients operating and investing in the international business environment. The Company has more than 2,500 employees across 41 offices and 29 jurisdictions in Europe, the Americas, Asia Pacific and the Middle-East. Intertrust has leading market positions in selected key financial markets, including the Netherlands, Luxembourg, Jersey and the Americas. Intertrust delivers high-quality, tailored corporate, fund, capital market and private wealth services to its clients, with a view to building long-term relationships. The Company works with global law firms and accountancy firms, multinational corporations, financial institutions, fund managers, high net worth individuals and family offices.
For more information on Intertrust visit www.intertrustgroup.com.

Forward-looking statements and presentation of financial and other information
This presentation is prepared by Intertrust N.V. and is for information purposes only and the material contained in this document is provided 'as is'. It is not a recommendation to engage in investment activities and you must not solely rely on the content of this document when making any investment decisions. The information in this document does not constitute legal, tax, or investment advice and is not to be regarded as investor marketing or marketing of any security or financial instrument, or as an offer to buy or sell, or as a solicitation of any offer to buy or sell, securities or financial instruments.
The information and materials contained in this presentation are provided 'as is' and Intertrust N.V. or any of its affiliates ("Intertrust") do not warrant the accuracy, adequacy or completeness of the information and materials and expressly disclaim liability for any errors or omissions. This presentation is not intended to be, and shall not constitute in any way a binding or legal agreement, or impose any legal obligation on Intertrust. All intellectual property rights, including trademarks, are those of their respective owners. All rights reserved. All proprietary rights and interest in or connected with this publication shall vest in Intertrust. No part of it may be redistributed or reproduced without the prior written permission of Intertrust.

This presentation may include forward-looking statements, which are based on Intertrust's current expectations and projections about future events, and are not guarantees of future performance. Forward looking statements are statements that are not historical facts, including statements about our beliefs and expectations. Words such as "may", "will", "would", "should", "expect", "intend", "estimate", "anticipate", "project", "believe", "could", "hope", "seek", "plan", "foresee", "aim", "objective", "potential", "goal", "strategy", "target", "continue" and similar expressions or their negatives are used to identify these forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors because they relate to events and depend on circumstances that will occur in the future whether or not outside the control of Intertrust. Such factors may cause actual results, performance or developments to differ materially from those expressed or implied by such forward-looking statements. Accordingly, no undue reliance should be placed on any forward-looking statements. Forward-looking statements speak only as at the date at which they are made. Intertrust expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statements contained in this presentation to reflect any change in its expectations or any change in events, conditions or circumstances on which such statements are based unless required to do so by applicable law.
Financial objectives are internal objectives of Intertrust to measure its operational performance and should not be read as indicating that Intertrust is targeting such metrics for any particular fiscal year. Intertrust' s ability to achieve these financial objectives is inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond Intertrust' s control, and upon assumptions with respect to future business decisions that are subject to change. As a result, Intertrust's actual results may vary from these financial objectives, and those variations may be material.

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