investor relations presentation 02 09-11-final

ezcorp.com | nasdaq:ezpw | february 2011

: EZPW

february 2011

shareholder presentation

ezcorp.com | nasdaq:ezpw | february 2011ezcorp.com | nasdaq:ezpw | february 2011

safe harbor statement

This presentation contains certain forward-looking statements regarding the Company’s expected

operating and financial performance for future periods. These statements are based on the Company’s

current expectations. Actual results for future periods may differ materially from those expressed or

implied by these forward-looking statements due to a number of uncertainties and other factors,

including changing market conditions in the overall economy and the industry, consumer demand for the

Company’s services and merchandise, and changes in the regulatory environment. For a discussion of

these and other factors affecting the Company’s business and prospects, see the Company’s annual,

quarterly, and other reports filed with the Securities and Exchange Commission.


mission

delivers financial services

our customers want . . .

their way . . .

any time, every time.


geographic footprint

north america

africa

europe

australia & asia

EZCORP Albemarle & Bond Cash Converters


our business

312Locations

90Locations

90Locations

42Locations

pawn operations | 534 locations

ezmoney operations | 498 locations

442Locations

56Locations

1,032 storefronts

844Locations

132Locations

56Locations

our business

affiliate locations 730+

As of 12.31.10


us pawn

• grow pawn loan balances• augment product offering (VIP/PPP)• increase inventory purchases

- gold- general merchandise

• leverage infrastructure• acquisitions and greenfields

netrevenue

operatingincome

20082009 2010

$311.4M

$249.8M

$183.8M

20082009

2010

$150.2M

$109.3M

$85.2M

growth drivers


empeño fácil

• grow pawn loan balances

• maturing stores / leveraging infrastructure

• augment product offering - PPP/cell phone recharge

• greenfield- full line/jewelry only

netrevenue

operatingincome

20082009 2010

20082009

2010

$150M$16.0M

$9.8M$7.4M

$4.4M$3.9M

$3.2M

growth drivers


ezmoney

netrevenue

operatingincome

20082009 2010

20082009

2010

$56.2M$121.1M

$100.3M$89.7M $40.5M$33.4M

growth drivers

• new and enhanced products- installment loans

- auto title loans

• greenfields (Canada)- 56 stores in less than 2 years

- maturing stores / leveraging infrastructure

- selective acquisitions

- line of credit

- integrated debit card


• single, global brand• stores

- 72 company-owned, Australia, UK- 600+ locations, 18 countries

• operations- buy/sell model- short-term unsecured lending

• EZCORP investment- $63.3M, 33% total- 2 of 5 board seats

cash converters (CCV.ASX)international limited

revenue netincome

20082009 2010

20082009

2010

$19.1M

$112.7M

$70.9M$66.7M

$12.1M$13.6M

growth drivers

contribution to EZCORP

$3.9M


• two-brand strategy, UK only• stores

- 146 full-line jewelry pawn- 35 ‘pop up’ gold buying

• operations- jewelry only pawn/gold buying- short-term unsecured lending

• EZCORP investment- $45.7M, 30% total- 3 of 9 board seats

albemarle & bond (ABM.L)holdings PLC

revenue netincome

20082009 2010

20082009

2010

$22.8M$129.8M

$89.7M$93.9M

$17.2M$14.5M

contribution to EZCORP

$6.8M$5.0M

$4.3M

growth drivers


consolidated financials


revenue & earnings growth

$447.5M

$359.9M

$280.9M

20082009

2010

20072006

1Q’11

$112.9M

$225.7M$191.1M

$134.2M

earningsper share

$1.96

$1.42$1.21

20082009

2010

20072006

1Q’11*

$0.52

$0.88

$0.69$0.69

FYE 9/30 unless noted

* Non-GAAP, adjusted for one-time charge. See appendix.

$2.40

guid

ance

netrevenue


margins

store operatingincome

47.1%

42.7%

2009

2010

2008

1Q’11

$54.8M

$121.9M

51.9%

operatingincome

$141.9M

$101.5M

2009

2010

2008

1Q’11*

$38.9M

$73.7M37.5%

48.5%

$210.8M

43.4%$153.7M

$69.7M

26.2%

28.2%

31.7%

34.4%

$50.3M




EBITDA & cash flow

EBITDA

$156.5M

$114.2M

2009

2010

2008

1Q’11*

$42.2M$54.5M

cash flowfrom operations

$141.9M

2009

2010

2008

1Q’11*

$30.1M $31.6M

$86.0M

$35.8M

$65.1M

$89.2M




balance sheet / liquidity

pawn loans 124.4

signature loans 12.0

auto title loans 3.3

turnover 3.8x

fair value 170.1

debt/equity 4.0%

debt/EBITDA 0.41x

12.31.09 12.31.10cash 17.0 23.9

loan book(s) 114.5 139.6

receivables 26.5 31.8

inventory 63.5 77.7

deferred tax 20.7 23.2

investments 90.5 109.0

prepaids/other 24.6 28.7

PP & E 52.4 66.6

goodwill/intangibles 117.1 144.5

debt 32.5 22.5

payables 39.7 49.0

customer deposits 2.7 5.9

taxes/other 9.3 7.7

stockholders’ equity 442.6 558.3

net tangible assets 325.5 413.8

$(millions)

note: loan balances do not include loans from an affiliated lenders but brokered by EZCORP of 32.4M in 2010, 31.9M in 2009.


strategic initiatives


strategic initiativesbattleship stores

• make the best better - top 10% stores deliver 25%+ of

total store operating income

• operating margins 10%+ higher than average

• focus on investment & innovation- enhanced fixture and store design

- jeweler on premises

- technology investment and process improvements

- investment in human capital

- elevated marketing spend


strategic initiativesgreenfield / acquisitions

• robust pipeline of acquisition and greenfield location opportunities• rigorous evaluation process with target returns• proven methodology

fiscal ’11fiscal ’11fiscal ’11

YTDYTD guidance

greenfield acquisition greenfield

3 9 10

17 - 55-60

5 - 35-40

fiscal ’10fiscal ’10

actualactual

greenfield acquisition

7 16

53 -

51 -


strategic initiativesnew products

2007 2011201020092008

installment

loanauto title

loan

DINERO. CONVENIENCIA. CONTROL.

¡Dile SÍ al Change!

Con Tarifas Bajas | Deposita y Transfiere Fondos | Cargar el Cheque a la Tarjeta*

Realiza Compras | Paga Facturas | Usa los Cajeros Automáticos | Comience a Ahorrar

changedebitcard.com

Cash. Convenience. Control.

Dinero. Conveniencia. Control. Servicios disponibles para titulares de la tarjeta. Rigen los términos y condiciones para los cargos de la tarjeta. La Tarjeta Change MasterCard® Prepagada está emitida por Inter National Bank, miembro FDIC, conforme a una licencia otorgada por MasterCard International, Inc.* No se aceptan todos los tipos de cheques para cargar en la tarjeta. Consulte los términos y condiciones de la tarjeta para obtener información detallada.

CO_CHANGE_1010_ST_ES

change

cardcheck load

moneytransfersavings

ATM

The money you need. The respect you deserve. So you can get back to enjoying life.KS_VERSA_1110_ST_A

El dinero que necesita. El respeto que usted merece. Así que puede volver a disfrutar la vida.

Loans up to $2,000!*¡Préstamos hasta de $2,000!*

V E R S ALOAN

The versatile way to get the funds you need, for whatever you need.

As you pay it back, the funds are available to use again — you’re in control!**

Not a Payday Loan | No un préstamo de día de paga

See store associate for details.

line of

credit


strategic initiativesdigital

SMS (text messaging)

•collections•marketing

email•marketing

customer experience•qualitative customer data - via survey system

•quantitative customer data - via business intelligence data mining

•qualitative market data - via market surveys

online advertising•internet yellow pages•pay-per-click advertising (facebook & google)

integrated website•website design

social media marketing•facebook•you tube•twitter

online lending

mobile applications•loyalty programs•marketing

currentin

development


strategic initiativesfinancial servicescurrent future

pawnloans

goldscrap

retailsales

VIPPPP

paydayloan

autotitleloan

installment

loan

line ofcredit

brick & mortar ezmoney products brick & mortar pawn products web or mobile based financial services

pawnloans financial

services

ATM

gold scrap

retail salespayday loans

bill pay

line of credit

auto title loanscheck loads

installmentloans

moneytransfer

savingsaccount

VIP PPP


investor considerations

strong balance sheet/cash flow

track record of delivery

stability

23% 5 year eps CAGR

future

large underserved markets

fragmented industry

opportunities for growth/scale

geographic diversification

EZCORP delivers financial services our customers want . . . their way . . . any time, every time.

current

future

new product innovation

multi-channel delivery

integrated financial services hub

multiple customer touch points


appendix


use of non-GAAP financial measures

We have provided earnings before interest, tax, depreciation and amortization (EBITDA) and consolidated cash flow

from operations for fiscal 2008, 2009 and 2010 and the first quarter of fiscal 2010 and 2011. These are non-GAAP

financial measures that management uses, along with GAAP financial measures, to assess operating performance.

We believe that, like management, investors frequently use EBITDA and cash flow from operations to assess our

operating performance and compare it with that of other companies. We also believe that this information, when

viewed together with GAAP measures such as gross margin, operating income, net income and net cash provided by

operations, allows us to better evaluate profitability, profit margin and cash generating trends.

In addition, for the first quarter of fiscal 2011, we have presented non-GAAP operating income and earnings per

share, and have adjusted EBITDA, by excluding a one-time charge related to the retirement of our former Chief

Executive Officer and the related tax benefit. We made these non-GAAP adjustments because we do not believe

that the excluded one-time charge is reflective of underlying operating performance, and thus, we believe

information as presented facilitates an enhanced understanding of our actual and expected performance and

enables more meaningful period-to-period comparisons.

The accompanying financial schedules reconcile each non-GAAP financial measure to the most closely comparable

GAAP financial measure and show the non-GAAP adjustments described above. The non-GAAP information

presented is not meant to be considered in isolation or as a substitute for, and should be reviewed in conjunction

with, the corresponding GAAP information.


GAAP to non-GAAP adjustments

Adjustment to reflect one-‐0me charge related to the re0rement of previous CEOAdjustment to reflect one-‐0me charge related to the re0rement of previous CEOAdjustment to reflect one-‐0me charge related to the re0rement of previous CEOAdjustment to reflect one-‐0me charge related to the re0rement of previous CEOAdjustment to reflect one-‐0me charge related to the re0rement of previous CEO

$000$000 Three months ended December 31, 2010Three months ended December 31, 2010Three months ended December 31, 2010Non-‐GAAP

GAAP Adjustments Non-‐GAAP

Net revenueNet revenue 134,232 134,232 -‐

Opera<ons expenseOpera<ons expense 64,504 64,504 Administra<ve expenseAdministra<ve expense 26,138 (10,945) 15,193 Deprecia<on and amor<za<onDeprecia<on and amor<za<on 4,179 4,179 Loss on sale of assetsLoss on sale of assets 7 7 Opera<ng income 39,404 10,945 50,349

Interest incomeInterest income (3) (3)Interest expenseInterest expense 300 300 Equity in net income of affiliatesEquity in net income of affiliates (3,367) (3,367)OtherOther (61) (61)Income before income taxesIncome before income taxes 42,535 10,945 53,480 Income tax expenseIncome tax expense 15,105 3,831 18,936 Net incomeNet income 27,430 7,114 34,544

Earnings per share (diluted)Earnings per share (diluted) $ 0.55 $ 0.14 $ 0.69


GAAP to non-GAAP adjustments

EBITDAEBITDAEBITDAEBITDAEBITDAEBITDAEBITDAEBITDAEBITDAEBITDA

$000$000 Year ended September 30,Year ended September 30,Year ended September 30, Three months ended December 31,Three months ended December 31,Three months ended December 31,Three months ended December 31,2008 2009 2010 2009 201020102010

Non-‐GAAPAdjustments

Net incomeNet income 52,429 68,472 97,294 25,707 27,429 7,114 34,543

Adjustments:Adjustments:Income taxes 25,642 36,840 54,236 14,120 15,106 3,831 18,937 Other expenses / (income) 8 38 (93) (15) (61) (61)Equity in net income of affiliates (4,342) (5,016) (10,750) (1,283) (3,367) (3,367)Interest expense 420 1,425 1,385 365 300 300 Interest income (477) (281) (186) (8) (3) (3)Deprecia<on & amor<za<on 12,354 12,746 14,661 3,356 4,179 4,179

EBITDAEBITDA 86,034 114,224 156,547 42,242 43,583 10,945 54,528

Cash Flow from Opera0onsCash Flow from Opera0onsCash Flow from Opera0onsCash Flow from Opera0onsCash Flow from Opera0onsCash Flow from Opera0onsCash Flow from Opera0onsCash Flow from Opera0onsCash Flow from Opera0onsCash Flow from Opera0ons

$000$000 Year ended September 30,Year ended September 30,Year ended September 30, Three months ended December 31,Three months ended December 31,Three months ended December 31,Three months ended December 31,2008 2009 2010 2009 201020102010

Non-‐GAAPAdjustments

Net cash provided by opera<ng ac<vi<esNet cash provided by opera<ng ac<vi<es 62,344 80,617 124,725 35,327 35,151 7,114 42,265 -‐

Loans madeLoans made (344,450) (446,023) (545,579) (128,315) (152,860) (152,860)Loans repaidLoans repaid 207,718 276,255 335,832 77,849 91,380 91,380 Recovery of pawn loan principal throughRecovery of pawn loan principal through -‐

sale of forfeited collateral 110,211 154,235 174,224 45,256 50,833 50,833

Cash flow from opera<onsCash flow from opera<ons 35,823 65,084 89,202 30,117 24,504 7,114 31,618


fact sheet

corporate headquartersEZCORP Inc.1901 capital parkwayaustin, tx, 78746512.314.3400

investor relationsstephen stamp, sr. vp, cfo512.314.2220

executive managementpaul rothamel, president and ceoeric fosse, president pawn americasstephen stamp, sr. vice president and cfomark kuchenrither, sr. vice president strategic developmenttom welch, sr. vice president and general counseltony sanders, sr. vice president human resources

analyst coveragecl king & associates - william r. armstrong, cfa 518-431-3259craig-hallum capital group - brian r. popiel, j.d. 617-275-5176 jmp securities - john hecht 415-835-3912roth capital research - elizabeth o. pierce, cfa 949-720-7130sidoti & company, llc - john j. rowan 212-453-7080stephens, inc. - david burtzlaff, cfa 214-258-2723sterne agee & leech inc. - henry j. coffey, jr., cfa 205-949-3646

investor relations presentation 02 09-11-final

Documents

pawn loans

locations locations1

1q11 fye

signature loans

operations jewelry

global brand stores

years maturing stores

growth drivers new