Company: IMXI
Filing Date: 2025-11-05
Form Type: DEFM14A
Source: 0001140361-25-040538
Chunk: 102

Company: International Money Express, Inc.
Filing Date: 2025-11-05
Form: DEFM14A
Chunk 102
---
| • | OFX Group Limited |

None of the selected companies are directly comparable to Intermex and certain of these companies may have characteristics that are materially different from those of Intermex. Based on its professional judgment and experience, Lazard believes that purely quantitative analyses are not, in isolation, determinative in the context of the Merger and that qualitative judgments concerning differences between the business, financial and operating characteristics and prospects of Intermex and the selected companies that could affect the public trading values of each company are also relevant. For each of the selected companies, Lazard reviewed and compared, among other things, the enterprise value of the selected company (defined as equity market capitalization plus total debt, plus preferred equity and noncontrolling interest, less cash and cash equivalents) as of August 8, 2025, as a multiple of such selected company’s estimated Adjusted EBITDA (defined as estimated earnings before interest, taxes, depreciation and amortization, adjusted, as applicable, for non-recurring items and any other adjustments, as appropriate), based on FactSet Research Systems and the companies’ public filings, for each of fiscal year 2025 and fiscal year 2026. The results of this analysis are summarized in the following table:

| Benchmark                 |     | High |     | Low  |     | Median |
| EV/ 2025E Adjusted EBITDA |     | 9.0x |     | 3.6x |     | 5.1x   |
| EV/ 2026E Adjusted EBITDA |     | 8.6x |     | 3.9x |     | 4.9x   |

Based on its experience and professional judgment, after taking into account, among other things, such observed multiples, Lazard selected and applied a range of multiples of (i) enterprise value / 2025E Adjusted EBITDA of 4.0x – 5.5x to Intermex’s estimated Adjusted EBITDA for 2025, based on the Moderate Case Management Forecasts and (ii) enterprise value / 2026E Adjusted EBITDA of 3.5x – 5.0x to Intermex’s estimated Adjusted EBITDA for 2026, based on the Moderate Case Management Forecasts. Based on this range of implied enterprise values and Intermex’s net debt of $0 as of June 30, 2025, based on