Company: IMXI
Filing Date: 2025-11-05
Form Type: DEFM14A
Source: 0001140361-25-040538
Chunk: 101

Company: International Money Express, Inc.
Filing Date: 2025-11-05
Form: DEFM14A
Chunk 101
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) and using the mid-year convention, (i) the estimated after-tax unlevered free cash flows to be generated by Intermex from June 30, 2025 through the end of fiscal year 2029 as reflected in the Moderate Case Management Forecasts and (ii) a range of terminal values for Intermex.

The terminal values were derived by applying a perpetuity growth rate range of 0.5% to 1.5% to the estimated unlevered free cash flow in fiscal year 2029 per the Moderate Case Management Forecasts. The perpetuity growth rates were estimated by Lazard based on its professional judgment and experience taking into account the Moderate Case Management Forecasts.

Lazard then subtracted Intermex’s net debt as of June 30, 2025, based on information provided by Intermex’s management, from the range of implied enterprise values to derive a range of total equity values for Intermex. At the direction of management, given cash and debt are primarily used to finance the operating settlement activity of Intermex and as Intermex manages towards no excess cash, the analysis assumed Intermex had $0 net debt. Lazard then calculated a range of implied equity values per share of our common stock by dividing such total equity values of Intermex by 30.950 million fully diluted shares of our common stock provided by Intermex management (determined using the treasury stock method), as calculated based on information provided by Intermex’s management with respect to dilutive securities outstanding as of August 4, 2025. The results of this analysis implied an equity value per share range of our common stock of $13.40 to $18.60 (rounded to the nearest $0.10 per share).

### Selected Publicly Traded Companies Analysis
Using public filings and data sources, Lazard reviewed and analyzed certain financial information, valuation multiples and market trading data related to selected publicly traded retail remittance companies (referred to in this section as the “selected companies”), the operations of which Lazard believed, based on its professional judgment and experience, to be generally relevant for purposes of this analysis. Lazard compared such information for the selected companies to the corresponding information for Intermex.

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The selected companies for this analysis were as follows:

| • | Euronet Worldwide, Inc. |

| • | The Western Union Company |

| • | EVERTEC, Inc. |