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© 2025 Alight. All rights reserved.
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© 2025 Alight. All rights reserved. • • • • • • • • • •
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© 2025 Alight. All rights reserved. Three Months Ended ($ in millions) Revenue: Recurring 493$ Proforma Adjustments 12 Recurring - adjusted 505 Project 45 Total Revenue 550$ June 30, 2024
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© 2025 Alight. All rights reserved. Three Months Ended ($ in millions) Gross Profit $ 167 Add: stock-based compensation 3 Add: depreciation and amortization 26 Add: Proforma Adjustments 23 Adjusted Gross Profit $ 219 Gross Profit Margin 31.0% Adjusted Gross Profit Margin 39.8% June 30, 2024
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© 2025 Alight. All rights reserved. Three Months Ended June 30, Twelve Months Ended June 30, (in millions) 2024 2025 Net Income (Loss) From Continuing Operations (4)$ (1,105)$ Interest expense 33 83 Income tax expense (benefit) 2 11 Depreciation 30 119 Intangible amortization 69 281 EBITDA From Continuing Operations 130 (611) Share-based compensation 20 39 Transaction and integration expenses (1) 19 54 Restructuring 18 70 (Gain) Loss from change in fair value of financial instruments (52) (6) (Gain) Loss from change in fair value of tax receivable agreement (31) 42 Goodwill Impairment and Other 1 992 Adjusted EBITDA From Continuing Operations 105$ 580$ Proforma Adjustments 23$ -$ Adjusted EBITDA w/ Proforma Adjustments 128$ 580$ Total Revenue 550$ 2,311$ Adjusted EBITDA Margin (2) 23.3% 25.1% Total Debt 2,015$ Cash and cash equivalents 227$ Net Leverage Ratio (3) 3.1X (1) Transaction and integration expenses primarily relate to acquisition and divestiture activities. (2) Adjusted EBITDA Margin is defined as Adjusted EBITDA as a percentage of revenue. (3) Net leverage ratio is defined as total balance sheet debt less cash and cash equivalents divided by the last twelve months of Adjusted EBITDA w/ Proforma Adjustments.
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© 2025 Alight. All rights reserved. (in millions) Non-GAAP Free Cash Flow Reconciliation 2025 2024 Cash provided by operating activities - continuing operations 159$ 93$ Proforma Adjustments - 52 Cash provided by operating activities - continuing operations - adjusted 159 145$ Capital Expenditures (57) (67)$ Non-GAAP Free Cash Flow 102$ 78$ Six Months Ended June 30,
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© 2025 Alight. All rights reserved.