Slides
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October 22, 2026 CACI International Inc Q1 FY27 Earnings Conference Call
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2 | There are statements made herein that do not address historical facts and, therefore, could be interpreted to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to risk factors that could cause actual results to be materially different from anticipated results. These risk factors include, but are not limited to, the following: our reliance on U.S. government contracts, which includes general risk around the government contract procurement process (such as bid protest, small business set asides, loss of work due to organizational conflicts of interest, etc.) and termination risks; significant delays or reductions in appropriations for our programs and broader changes in U.S. government funding and spending patterns; legislation that amends or changes discretionary spending levels or budget priorities, such as for homeland security or to address global pandemics; legal, regulatory, and political change from successive presidential administrations that could result in economic uncertainty; changes in U.S. federal agencies, current agreements with other nations, foreign events, or any other events which may affect the global economy, including the impact of global pandemics; the results of government audits and reviews conducted by the Defense Contract Audit Agency, the Defense Contract Management Agency, or other governmental entities with cognizant oversight; competitive factors such as pricing pressures and/or competition to hire and retain employees (particularly those with security clearances); failure to achieve contract awards in connection with re-competes for present business and/or competition for new business; regional and national economic conditions in the United States and globally, including but not limited to: terrorist activities or war, changes in interest rates, currency fluctuations, significant fluctuations in the equity markets, and market speculation regarding our continued independence; our ability to meet contractual performance obligations, including technologically complex obligations dependent on factors not wholly within our control; limited access to certain facilities required for us to perform our work, including during a global pandemic; changes in tax law, theinterpretation of associated rules and regulations, or any other events impacting our effective tax rate; changes in technology; the potential impact of the announcement or consummation of a proposed transaction and our ability to successfully integrate the operations of our recentand any future acquisitions; our ability to achieve the objectives of near term or long-term business plans; the effects of health epidemics, pandemics and similar outbreaks may have material adverse effects on our business, financial position, results of operations and/or cash flows; andother risks described in our Securities and Exchange Commission filings. Forward-looking statements
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3 | On today’s call John Mengucci President and Chief Executive Officer Jeff MacLauchlan Chief Financial Officer and Treasurer
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4 | Clear and consistent strategy Investing ahead of customer need Mission knowledge informs our strategic investments Critical, enduring national security priorities Narrow, deep funding streams Strategically deploy capital based on timely dynamics Create value for customers and shareholders Strategy is the driving force behind our results Decades of mission knowledge operating close to the customer Competitive moat that is difficult to replicate Using software to solve critical needs Delivering speed, agility, and efficiency Enduring commitment Mission proximity Informed investment Differentiated technology Flexible and opportunistic capital deployment
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5 | Predictable organic revenue growth 8.2% revenue growth (2.1% organic) $4.8 billion of contract awards (2.0x B2B) Profitability supportive of continued investment 13.3% EBITDA1 margin Long-term growth in free cash flow per share and shareholder value $133 million of free cash flow1 Flexible and opportunistic capital deployment Strong financial position with increasing optionality 1 See slides at the end of this presentation for definitions and reconciliations of non-GAAP measures Q1 financial highlights Raising Revenue, Adjusted net income1, and Adjusted EPS1 guidance for the year
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6 | • Apollo CENTCOM award for intelligence and information warfare leveraging AI • SOFETOPS 2 follow-on contract helping SOCOM respond to evolving threats • Both exemplify our national security focus and deep mission knowledge Technology-enabled Operational Support Q1 business highlights • Increased demand for differentiated non-kinetic C-UAS capabilities like SkyValor and BEAM • SkyValor has precision non- kinetic effects, detection up to 75km, cellular detect/defeat • BEAM is the most technically capable system of its kind on the market today • Selected by commercial provider Vantor to supply advanced optical imaging payloads for satellite fleet • Progress in optical communications with SDA OCT deliveries, USSF Enterprise Space Terminal program, and other classified work • Healthy demand for modernization • CACI differentiating through speed of delivery, use of outcome-based delivery models, and demonstrated success deploying AI • AI efficiencies reinvested back to CACI for additional work Electronic Warfare Space Digital & Networking Technology Technology-first approach driving our financial performance
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7 | Manufacturing Center of Excellence for Defense Electronics More capacity to deliver advanced technology at greater scale and efficiency Expanding production to meet demand 61,000 square feet NOW OPEN Defense Electronics Rochester, NY PLANNED CENTERS OF EXCELLENCE Space Integrated Systems| Develop, test, assemble, and deliver defense electronics, including TLS Manpack and BEAM.
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8 | • Budgets and funding remain healthy in our key areas of focus • Priorities in these areas have bipartisan support and strong demand signals • Continuing Resolutions have become the norm with little impact to our business • Award activity improving, not yet fully normalized Macro environment 8 |
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9 | Fiscal year transition and Investor Day JANUARY 1, 2027 Calendar fiscal year EARLY 2027 Investor Day • Begins January 1, 2027 • Enhances investor comparability and aligns with the government’s fiscal year • New FY27 guidance expected with December quarter results in February 2027 • Early 2027 at CACI’s Melbourne, Florida facilities • Strategy, capabilities, fiscal-year transition and other changes • CACI management team, including recently announced executive leaders • New three-year financial targets
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10 | Solid Execution Q1 financial summary 13.3% EBITDA1 margin (+160 bps YoY) Strong execution and favorable mix 8.2% YoY growth (2.1% organic) Organic Revenue growth in-line with expectations Impressive EBITDA1 margin Adjusted EPS1 +11.8% YoY Free Cash Flow1 of $133 million Strong profitability Typical Q1 cash outflows and working capital Higher interest expense Strong operating performance Higher interest expense Slightly higher ETR 1 See slides at the end of this presentation for definitions and reconciliations of non-GAAP measures
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11 | 1.0x 1.5x 2.0x 2.5x 3.0x 3.5x 4.0x 4.5x 5.0x Net Leverage (Actuals) Net Leverage (Forecast) Ability to quickly return to target leverage based on consistent financial performance 1 Net debt to trailing-twelve-months (TTM) EBITDA as of Sept 30, 2026; pro forma includes TTM EBITDA for the ARKA acquisition 2 See slides at the end of this presentation for definitions and reconciliations of non -GAAP measures 3 Net leverage (forecast) is net debt to pro-forma trailing-twelve-months (TTM) EBITDA Strong balance sheet (3.5x pro-forma leverage1); now expect to reach low 3s two quarters earlier than expected (March 2027), now within just four quarters of closing ARKA Diversified debt stack Healthy cash flow business, ready access to capital Driving long-term growth in free cash flow2 per share Flexible and opportunistic capital deployment 3 National Se cu r ity Solution s Strategic M&A Capital Returns to Shareholders Internal Investments
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12 | Updated Guidance Prior Guidance Revenue (millions) $10,700 – $10,900 $10,650 – $10,850 Adjusted Net Income1 (millions) $740 – $760 $735 – $755 Adjusted Diluted EPS1 $33.18 – $34.08 $32.96 – $33.86 Free Cash Flow1,2 (millions) At least $900 At least $900 This guidance represents CACI views as of October 21, 2026. Investors are reminded that actual results may differ from these estimates for reasons described in the Company’s Safe Harbor Statement and filings with the SEC. 1 See slides at the end of this presentation for definitions and reconciliations of non-GAAP measures 2 Fiscal year 2027 free cash flow guidance assumes approximately $115 million in cash tax benefits related to Section 174A of the One Big Beautiful Bill Act of 2025 and a $40 million tax refund associated with prior year tax method changes Revenue growth of 11.8% to 13.9% (7.1% to 9.2% organic) Acquired revenue of ~$450M Higher organic growth in 2H vs 1H Current consensus estimate for Q2 organic growth is reasonable EBITDA1 margin in high 12% range Higher EBITDA1 margin in 2H vs 1H Current consensus estimate for Q2 EBITDA margin is reasonable Depreciation and amortization ~$325M Net interest expense ~$288M Tax Rate 23.0% to 24.0% Diluted shares outstanding ~22.3M Capital expenditures of ~$115M Similar percentage of overall free cash flow1 in 1H FY27 as in FY26 (~35%) Updating FY27 guidance
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13 | Positive forward indicators Long-term visibility into our business Q1 contract awards of $4.8 billion Book-to-Bill of 2.0x Weighted avg. duration nearly 4.5 years Backlog of $34 billion, modestly higher YoY 15% YoY increase in Funded Backlog Pipeline of submitted bids: $4.7 billion ~85% for new business Bids expected to be submitted in the next two quarters: $14.7 billion >60% for new business 94% Existing Business STRONG Performance 3% Recompetes HIGH Win Rate 3% New Business QUALITY Pipeline FY27 Revenue Composition
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14 | 14 | Closing • Strong start to fiscal 2027 • Raising Revenue, Adj. Net Income1, and Adj. EPS1 guidance • Large and growing backlog, strong customer demand signals, and ability to deliver give us confidence in the year ahead • Our strategy is working, we are generating strong cash flow, and we are positioned to deliver value for customers and shareholders • 27,000 employees who are Ever Vigilant in expanding the limits of national security 14 | 1 See slides at the end of this presentation for definitions and reconciliations of non-GAAP measures
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15 | Appendix
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16 | Free cash flow and notable cash tax impacts FY25 FY26 FY27E2 Back-to-Back Tax Elections Section 174 R&D Total Notable Cash Impacts Notable Cash Tax Impacts, Total Free Cash Flow 1 40 155 115 – 50 50 (47) (47) – All numbers are in $millions 1 See slides at the end of this presentation for definitions and reconciliations of non-GAAP measure 2 Estimates based on current expectations and incorporated into fiscal 2027 guidance as of August 5, 2026 ($47) $50 $155 $442 $735 $900
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17 | ▪ Adjusted net income and adjusted diluted EPS are non-GAAP performance measures. We define adjusted net income and adjusted diluted EPS as GAAP net income and GAAP diluted EPS, respectively, excluding intangible amortization expense and the related tax impact as we do not conside r intangible amortization expense to be indicative of our operating performance. We believe that these performance measures provide management and investors with useful information in assessing trends in our ongoing operating performance, provide greater visibility in understanding the long-term financial performance of the Company, and allow investors to more easily compare our results to results of our peers. ▪ The Company views EBITDA and EBITDA margin, both of which are defined as non -GAAP measures, as important indicators of performance, consistent with the manner in which management measures and forecasts the Company’s performance. EBITDA is a commonly used non-GAAP measure when comparing our results with those of other companies. We define EBITDA as GAAP net income plus net interest expense, income taxes, and depreciation and amortizati on expense (including depreciation within direct costs). We consider EBITDA to be a useful metric for management and investors to evaluate and compare the ongoing operating performance of our business on a consistent basis across reporting periods, as it eliminates the effect of non-cash items such as depreciation of tangible assets and amortization of intangible assets primarily recognized in business combinations, which we do not believe are indicative of our operating perf ormance. EBITDA margin is EBITDA divided by revenue. ▪ The Company defines net cash provided by operating activities excluding MARPA, a non -GAAP measure, as net cash provided by operating activities calculated in accordance with GAAP, adjusted to exclude cash flows from CACI’s MARPA for the sale of certain designated eligible U.S. government receivables up to a maximum amount of $350.0 million. Free cash flow is a non-GAAP liquidity measure and may not be comparable to similarly titled measures used by other companies. The Company defines free cash flow as net cash provided by operating activities excluding MARPA, less payments for capital expenditures. The Company uses these non- GAAP measures to assess our ability to generate cash from our business operations and plan for future operating and capital actions. We believe these measures allow investors to more easily compare current period results to prior period results and to results of our peers. Free cash flow does not represent residual cash flows available for discretionary purposes and should not be used as a substitute for cash flow measures prepared in accordance with GAAP. ▪ These non-GAAP measures should not be considered in isolation or as a substitute for financial measures prepared in accordance w ith GAAP. Definitions of non-GAAP measures
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18 | Reconciliation of net income to adjusted net income and diluted EPS to adjusted diluted EPS (unaudited) These non-GAAP measures should not be considered in isolation or as a substitute for financial measures prepared in accordance w ith GAAP.
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19 | Reconciliation of net income to earnings before interest, taxes, depreciation and amortization (EBITDA) (unaudited) These non-GAAP measures should not be considered in isolation or as a substitute for financial measures prepared in accordance w ith GAAP.
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20 | Reconciliation of net cash provided by operating activities to net cash provided by operating activities excluding MARPA, and to free cash flow (unaudited) These non-GAAP measures should not be considered in isolation or as a substitute for financial measures prepared in accordance w ith GAAP.