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> FirstAdvantage Q2 2026 Earnings Presentation August 6 , 2026 © 2026 First Advantage
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© 2026 First Advantage NON- GAAP FINANCIAL INFORMATION This presentation contains “non-GAAP financial measures” that are financial measures that either exclude or include amounts that are not excluded or included in the most directly comparable measures calculated and presented in accordance with accounting principles generally accepted in the United States (“GAAP”). Specifically, we make use of the non-GAAP financial measures “Adjusted EBITDA,” “Adjusted EBITDA Margin,” “Adjusted Net Income,” “Adjusted Diluted Earnings Per Share,” and “Constant Currency Revenues.” Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Diluted Earnings Per Share, and Constant Currency Revenues have been presented in this presentation as supplemental measures of financial performance that are not required by or presented in accordance with GAAP because we believe they assist investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. Management believes these non-GAAP measures are useful to investors in highlighting trends in our operating performance, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which we operate, and capital investments. Management uses Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Diluted Earnings Per Share, and Constant Currency Revenues to supplement GAAP measures of performance in the evaluation of the effectiveness of our business strategies, to make budgeting decisions, to establish discretionary annual incentive compensation, and to compare our performance against that of other peer companies using similar measures. Management supplements GAAP results with non-GAAP financial measures to provide a more complete understanding of the factors and trends affecting the business than GAAP results alone. Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Diluted Earnings Per Share, and Constant Currency Revenues are not recognized terms under GAAP and should not be considered as an alternative to net income (loss) as a measure of financial performance or cash provided by (used in) operating activities as a measure of liquidity, or any other performance measure derived in accordance with GAAP. We define Adjusted EBITDA as net income (loss) before interest, taxes, depreciation, and amortization, and as further adjusted for loss on extinguishment of debt, share-based compensation, transaction and acquisition-related charges, integration and restructuring charges, and other non-cash charges. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by total revenues. We define Adjusted Net Income for a particular period as net income (loss) before taxes adjusted for debt-related costs, acquisition-related depreciation and amortization, share-based compensation, transaction and acquisition-related charges, integration and restructuring charges, and other non-cash charges, to which we then apply the related effective tax rate. We define Adjusted Diluted Earnings Per Share as Adjusted Net Income divided by adjusted weighted average number of shares outstanding—diluted. We define Constant Currency Revenues as current period revenues translated using prior-year period exchange rates. For reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures, see the reconciliations included at the end of this presentation. The presentations of these measures have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. Because not all companies use identical calculations, the presentations of these measures may not be comparable to other similarly titled measures of other companies and can differ significantly from company to company. Numerical figures included in the reconciliations have been subject to rounding adjustments. Accordingly, numerical figures shown as totals in various tables may not be arithmetic aggregations of the figures that precede them. To facilitate comparability, we present pro forma combined company results, consisting of First Advantage and Sterling historical results and certain pro forma adjustments as if the acquisition of Sterling had occurred on 1/1/2023. The pro forma information does not constitute Article 11 pro forma information. FORWARD- LOOKING STATEMENTS This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, our operations and financial performance. Forward-looking statements include all statements that are not historical facts. These forward-looking statements relate to matters such as our industry, business strategy, goals, and expectations concerning our market position, future operations, margins, profitability, capital expenditures, liquidity and capital resources, and other financial and operating information. In some cases, you can identify these forward-looking statements by the use of words such as “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek,” “foreseeable,” “target,” “guidance,” the negative version of these words, or similar terms and phrases. These forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. Such risks and uncertainties include, but are not limited to, the following: the failure to realize the expected benefits of the Sterling Acquisition; adverse changes in external events beyond our control, including our customers’ onboarding volumes, economic drivers which are sensitive to macroeconomic cycles, such as interest rate volatility and inflation, geopolitical unrest, global trade disputes, uncertainty in financial markets, and changes in tax laws; our operations in a highly regulated industry and the fact that we are subject to numerous and evolving laws and regulations, including with respect to personal data, data security, and artificial intelligence ("AI"); our inability to identify and successfully implement our growth strategies on a timely basis or at all; potential harm to our business, brand, and reputation as a result of security breaches, cyber-attacks, social, ethical, and legal issues relating to the use of new and evolving technologies, employee or other internal misconduct, computer viruses, or the mishandling of personal data; operating in a penetrated and competitive market; our reliance on third-party data providers; our sales to government entities and higher-tier contractors to governmental customers which involve unique competitive, procurement, budget, administrative and contractual risks; due to the sensitive and privacy-driven nature of our products and solutions, we could face liability and legal or regulatory proceedings, which could be costly and time-consuming to defend and may not be fully covered by insurance; our international business exposes us to a number of risks; real or perceived errors, failures, or bugs in our products could adversely affect our business, results of operations, financial condition, and growth prospects; our ability to identify attractive targets or successfully complete such transactions; failure to comply with anti-corruption, economic and trade sanctions, and anti-money laundering laws and regulations; disruptions at our Operation Centers of Excellence and other operational sites; our contracts with our customers, which do not guarantee exclusivity or contracted volumes; the timing, manner and volume of repurchases of common stock pursuant to our share repurchase program; disruptions, outages, or other errors with our technology and network infrastructure, including our data centers, servers, and third-party cloud and internet providers and our migration to the cloud; the continued integration of our platforms and solutions with human resource providers such as applicant tracking systems and human capital management systems as well as our relationships with such human resource providers; risks relating to public opinion, which may be magnified by incidents or adverse publicity concerning our industry or operations; our reliance on third-party vendors to carry out certain portions of our operations; our dependence on the service of our key executives and other employees, and our ability to find and retain qualified employees; our ability to obtain, maintain, protect and enforce our intellectual property and other proprietary information; our ability to maintain, protect, and enforce the confidentiality of our trade secrets; the use of open-source software in our applications; seasonality in our operations from quarter to quarter; our indebtedness could adversely affect our ability to raise additional capital to fund our operations, limit our ability to react to changes in the economy or our industry, and prevent us from meeting our obligations; Silver Lake’s control of us and the potential conflict of its interest with ours or those of our stockholders; and changing interpretations of tax laws. For additional information on these and other factors that could cause First Advantage’s actual results to differ materially from expected results, please see our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (the “SEC”), as such factors may be updated from time to time in our filings with the SEC, which are or will be accessible on the SEC’s website at www.sec.gov. The forward-looking statements included in this presentation are made only as of the date of this presentation, and we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by law. NOTE This presentation contains references to historical results of Sterling. Historical results through 6/30/2024 are from Sterling’s historical SEC filings and disclosures. Historical results for 7/1/2024 through 10/31/2024 (date of acquisition) are from Sterling’s books and records. First Advantage Corporation and its subsidiaries are collectively referred to as the “Company”, “FA”, and “First Advantage”. 2
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© 2026 First Advantage Q2 2026 Highlights Scott Staples Chief Executive Officer
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© 2026 First Advantage Delivering outstanding results amid gradually improving hiring environment Key Messages 1 2 3 4 4 1. Non-GAAP measure. See appendix for reconciliations of Adjusted EBITDA Margin and Adjusted Diluted Earnings Per Share to their most directly comparable respective GAAP measures. Outstanding Q2 2026 performance; Q2 YoY revenue growth of 15%, 28.6% Adj. EBITDA Margin1, and 30% Adj. Diluted EPS1 YoY growth, outperforming stated expectations; demonstrating strength of go-to-market performance, state-of-the-art AI- driven proprietary technology platform, and durability of diverse enterprise customer base and vertical mix Executing FA 5.0 strategy; product innovation, platform capabilities, and go-to-market execution driving tangible wins across the business and positioning us for sustainable long-term growth Balanced capital allocation strategy supported by strong cash flow generation; $25M voluntary debt prepayment in May (as previously announced), upsized to $45M in August, bringing cumulative repayments to $165.5M; repurchased $19M in shares in Q2, $38M through July 31 st (1.9% shares outstanding) Raising full year 2026 guidance; reflects strong first half performance, continuing go- to-market success, current labor market trends, and confidence in our outlook for the remainder of the year
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© 2026 First Advantage $128.5M 28.6% Adj. EBITDA Margin1 $73.6M $238M Cash Balance Cash Flow from OperationsRevenues Adjusted EBITDA1 Adjusted Diluted EPS1 $0.35 30% YoY Growth $449M 15% YoY Growth Q2 Themes Strategic Differentiators • Results benefited from sustained momentum driven by recent large contract wins and continued improvement in base revenue performance • Seeing encouraging signs of gradual improvement in the broader hiring environment with neutral-to-positive tone from enterprise customers • Enterprise customer focus, diverse vertical mix, global footprint, and balance across blue collar and white collar hiring provide stability and reinforce confidence in delivering durable growth across a variety of macro environments • Global HR tech and data platform company helping customers navigate increasingly complex human capital risk • Leveraging AI to enhance customer experience, increase productivity, and drive operating leverage • Deep domain expertise across verticals and extensive regulatory knowledge across geographies • Proprietary data assets including databases with 1B+ records • Data scientists and engineers applying cutting- edge technologies to products, technology, and operations Exceptional Q2 2026 Results 5 1. Non-GAAP measure. See appendix for reconciliations of Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted Diluted Earnings Per Share to their most directly comparable respective GAAP measures. Recognition and Milestones • Celebrated fifth anniversary of IPO • Added to S&P SmallCap 600 Index • Ranked among TIME’s America’s Best Companies 2026 Watch the NASDAQ tower celebration here © 2026 First Advantage
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© 2026 First Advantage Go-to-Market Update Joelle Smith President
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© 2026 First Advantage First Advantage Q2’25 Q3’25 Q4’25 2025 Q1’26 Q2’26 Upsell / Cross-sell 5% 5% 12% 7% 8% 8% New Logos 4% 4% 5% 4% 4% 4% Gross Retention 96% 97% 97% 96% 97% 96% Base (4%) (2%) (1%) (3%) 0% 7% Revenue Growth Algorithm Drivers 7 Q2 Go-to-Market Success • 15% Q2 YoY revenue growth exceeded previously stated expectations and long-term growth algorithm target of 7-9% • Combined upsell, cross-sell, and new logo contribution of 12.5% — Driven by continued growth from large go- lives from end of 2025 and contributions from other enterprise deals 1 • Exceptional base growth of 6.7% — 2nd consecutive quarter of positive base growth • 20 enterprise bookings1 in Q2, up from 17 in Q1 • 96% retention, in line with growth algorithm 1. Enterprise bookings represent deals with at least $500,000 of expected annual contract value.
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© 2026 First Advantage Engaging with Customers Around the Globe: Collaborate® Transportation & Logistics Sustained base volumes and healthy consumer activity supporting labor demand Retail & E-Commerce Industrials & Manufacturing Aerospace and defense customers expanded capacity and increased hiring General Staffing Positive trends indicative of overall improvement in hiring environment International Supporting multinationals centralizing and globalizing hiring processes; softer volume trends emerging in some markets due to global conflicts Go-to-Market Update 8 Winning with Differentiated Product Portfolio Product innovation strategy is driving differentiated customer solutions and competitive advantage — Continued Digital Identity momentum — New verification products — Additional offerings leveraging SmartHub AI routing technology Singapore (June) Bengaluru, India (July) Mumbai, India (July) EMEA (September) Hong Kong (November) Sydney (November) International User Conference Series:
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© 2026 First Advantage Financial Results & Outlook Steven Marks Chief Financial Officer
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© 2026 First Advantage ($ in millions, except per share data and percentages) Revenues Adjusted EBITDA and Margin1 Adjusted Diluted EPS1 • 5th consecutive quarter of positive YoY revenue growth • Go-to-market success resulted in strong combined new logo, upsell, and cross-sell contribution of 12.5% • 2nd consecutive quarter of positive base growth, 6.7% in Q2 • Retention remained strong at 96% • Constant currency revenue growth of 15%2 • Adjusted EBITDA Margin1 increased 130 bps sequentially from Q1, driven by strong operating leverage, synergy execution, and cost discipline, while flexing to adapt to product mix changes • Deeply engrained, disciplined cost management approach within highly variable, flexible cost structure is a differentiator • Growth supported by outperformance in the quarter, share buybacks, synergy realization, expense and capital management, and lower interest expense resulting from debt re-pricing and voluntary debt payments-to-date 1. Non-GAAP measure. See appendix for reconciliations of Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted Diluted Earnings Per Share to their most directly comparable respective GAAP measures. 2. Currency impact on revenues was $(0.8)M. See appendix for reconciliation. Q2 2026 Financial Results 10 $0.27 $0.35 Q2 2025 Q2 2026 $390.6 $448.8 Q2 2025 Q2 2026 $113.9 $128.5 Q2 2025 Q2 2026 29.2% 28.6% +15% +13% +30%
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© 2026 First Advantage • Cash balance of $238M at 6/30/26 • Q2 2026 Operating Cash Flows of $73.6M • Closely managing working capital to support cash flow and debt pay down De-levered by 0.7x since close of Sterling acquisition Cash Flow From Operations ($ in millions) 9/30/2024 6/30/2026 Mid-Term Target 3.7x <3x 1 4.4x 2 11 1. As previously presented in the 11/12/2024 Q3 2024 Earnings Presentation. 2. LTM 6/30/26 synergized net leverage is based on LTM 6/30/26 Synergized Adjusted EBITDA of $490.6M (which represents $469.1M of L TM Adjusted EBITDA plus $72.5M of run rate target synergies (representing the mid- point of the $65M to $80M run rate synergy target range which is expected to be actioned within 2 years post -closing), less $51M of LTM Q2 2026 sy nergy benefits realized) and net debt as of 6/30/26; calculated as ($2, 064.5M Debt - $237.9M Cash and Cash Equivalents) / $490.6M LTM Synergized Adjusted EBITDA. Note: Adjusted EBITDA and net leverage are non-GAAP measures. See appendix for a reconciliation of Adjusted EBITDA to its most directly comparable GAAP measure. Cash Flow and Capital Structure $38.2M total as of July 31 $61.8M remaining under authorization $18.7M in Q2 $15M $25M $25M $25M $25M $45M $5.5M $20.5M $45.5M $70.5M $95.5M $120.5M $165.5M Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 to-date Share Repurchases Debt Repayments $165.5M total since Sterling acquisition close $37.3M $73.6M Q2 2025 Q2 2026 +97% Prior-period cumulative debt repayments In-period debt repayments Synergized Net Leverage Capital AllocationQ2 2026 Cash Flow
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© 2026 First Advantage 12 Note: • Actual results may differ materially from First Advantage’s Full Year 2026 Guidance as a result of, among other things, the f actors described under “Forward-Looking Statements” in this presentation. • All figures above include the impact of shares repurchased through July 31, 2026. • A reconciliation of the foregoing guidance for the non-GAAP metrics of (i) Adjusted EBITDA and Adjusted Net Income to GAAP net i ncome (loss), (ii) Adjusted EBITDA margin to GAAP net income (loss) margin and (iii) Adjusted Diluted Earnings Per Share to GAAP diluted earnings per share cannot be provided without unreasonable effort because of the inherent difficulty of accurately forecasting the occurrence and financial impact of the various adjusting items necessary for such reconciliation that have not yet occurred, are out of our control, or cannot be reasonably predicted. For the same r easons, the Company is unable to assess the probable significance of the unavailable information, which could have a material impact on its future GAAP financial results. • “YoY Growth” compares "Guidance" to FY 2025 results of $1,574.4M Revenues, $441.4M Adjusted EBITDA, $181.7M Adjusted Net Income, and $1.04 Adjusted Diluted Earnings Per Share. • See appendix for additional modeling assumptions. Raising Full Year 2026 Guidance Updated Guidance (as of August 6, 2026) Prior Guidance (as of May 7, 2026) Total Revenues $1,670M to $1,710M 6% to 9% YoY Growth $1,625M to $1,700M 3% to 8% YoY Growth Adjusted EBITDA $472M to $486M 7% to 10% YoY Growth ~28.3% Margin $460M to $485M 4% to 10% YoY Growth ~28.4% Margin Adjusted Net Income $214M to $225M 18% to 24% YoY Growth $200M to $220M 10% to 21% YoY Growth Adjusted Diluted Earnings Per Share $1.23 to $1.29 18% to 24% YoY Growth $1.15 to $1.25 11% to 20% YoY Growth
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© 2026 First Advantage $0.82 $1.04 $1.23 - $1.29 2024 Actuals 2025 Actuals 2026 Guidance Adjusted Diluted EPS 1 Growth 1. Non-GAAP measure. See appendix for reconciliation of 2024 and 2025 Adjusted Diluted Earnings Per Share to its most directly comparable GAAP measure. 2. 4-Year compound annual growth rate (“CAGR”) range calculated using 2024 Actuals of $0.82 and 2028 Target range of $1.65 to $2.00 . 3. 2-Year CAGR range calculated using 2026 guidance mid-point of $1.26, as of 8/6/2026, and 2028 Target range of $1.65 to $2.00. 4. 2026 Guidance represents guidance as of 8/6/2026. Note: CAGR’s are used for illustrative purposes only. A reconciliation of the foregoing guidance and targets, and related growth rates, for the non-GAAP metric Adjusted Diluted Earnings Per Share to GAAP diluted earnings per share cannot be provided without unreasonable effort because of the inherent difficulty of accurately forecasting the occurrence and financial impact of the various adjusting items necessary for s uch reconciliation that have not yet occurred, are out of our control, or cannot be reasonably predicted. For the same reasons, the Company is unable to assess the probable significance of the unavailable information, which could have a material impact on its future GAAP financial results. 13 +27% YoY 4 $1.65 - $2.00 2028 Target YoY +18% - 24% 2-Year CAGR3 +14% - 26% 4-Year CAGR 2 : +19% - 25% 2024 - 2028
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© 2026 First Advantage Closing Remarks Scott Staples Chief Executive Officer
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© 2026 First Advantage $1.8B - $2.0B Targeted Revenues 4% - 7% CAGR (4-year) $560M - $630M Targeted Adjusted EBITDA 9% - 12% CAGR (4-year) 31% - 32% Targeted Adjusted EBITDA Margin $1.65 - $2.00 Targeted Adjusted Diluted EPS 19% - 25% CAGR (4-year) 2.0x - 3.0x Targeted Net Leverage Ratio The above estimated targets for the future are based on current information and assumptions available to us and arriving at s uch numbers requires us to make a number of assumptions that may not be true. These numbers reflect long- term targets and do not constitute guidance for any period. Ther e are a number of circumstances in the future that could greatly impact actual results, given circumstances that are not within our control, including the factors s et forth under "Forward-Looking Statements". The targets should not be relied upon when making an investment decision. A reconciliation of the targets for the non- GAAP metrics of (i) Adjusted EBITDA to GAAP net income, (ii) Adjusted EBITDA margin to GAAP net income margin, (iii) Adjusted Diluted Earnings Per Share to GAAP diluted earnings per share, and (iv) net leverage ratio cannot be provided without unreasonable effort because of the inherent difficulty of accurately forecasting the occurrence and financial impact of the various adjusting items necessary for such reconciliation that have not yet occurred, are out of our control, or cannot be reasonably predicted. For the same reasons, we are unable to assess the probable significance of the unavailable information, which could have a material impact on future GAAP financial results. Assumes base year of 2024 and no inorganic growth, other than the Sterling acquisition, over 4- year target period. Targeted Revenue and Adjusted EBIT DA CAGRs calculated using 2024 pro forma. Targeted Adjusted Diluted EPS CAGR based on 2024 Adjusted Diluted EPS of $0.82. Net leverage ratio is defined as net debt (debt minus cash and cash equivalents) divided by LTM Adjusted EBITDA. Investment Thesis and Reaffirmed 2028 Targets A market leader offering AI-enabled proprietary technology and data in a large and growing market Significant organic revenue growth potential, accelerated by Sterling acquisition Business resiliency backed by flexible cost structure and high revenue diversity An industry-leader in operating margins, leading to strong and consistent free cash flow generation Track record of value-accretive capital deployment and balance sheet management 15 © 2026 First Advantage
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© 2026 First Advantage Appendix Supplemental Materials and Reconciliations to GAAP Measures
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© 2026 First Advantage A Global Software and Data Company Helping Organizations Hire with Confidence and Manage Risk 21% 19% 13% 12% 11% 8% 8% 5% 3% Our Verticals5Our Scale $441M Adjusted EBITDA2 28% Adjusted EBITDA Margin2 100+ ATS and HCM4 Integrated Partners $1.6B Revenues 4% YoY PF Growth1 80K+ Customers ~66% of Fortune 100 and 50%+ of Fortune 500 96% Average Gross Retention 13+ Year Average Tenure of Top 100 Customers 200+ Countries and Territories 1B+ Records in Proprietary Databases 3 200M+ Annual Screens Healthcare Retail & E-Commerce Transportation & Logistics Financial Services Gig Economy Industrials & Manufacturing TMT & Hospitality General Staffing Business & Professional Services First Advantage At a Glance (2025) Note: All metrics are approximate and as of and for the year ended December 31, 2025, unless otherwise noted. 1. Non- GAAP measure. Pro forma measures assume the acquisition of Sterling had occurred 1/1/2023. See appendix for reconciliation of pro forma Revenues to its most directly comparable GAAP measure. 2. Non- GAAP measure. See appendix for reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin to their most directly comparable respective GAAP measures. 3. Proprietary databases are in the US only and only for US residents and products. 4. Applicant Tr acking System and Human Capital Management. 5. Vertical breakdown chart represents each vertical as an approximate percentage of FY2025 revenues, excluding SMB. Small and Midsize Business (“SMB”) represents ~6% of FY2025 revenues. 17
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© 2026 First Advantage Total Run Rate Synergy Target Expected To Be Actioned Within 2 Years $65M – $80M Synergy Priorities Post-Close of Sterling Acquisition Day 1 – 11/1/2024: Corporate Costs First 180 Days: Internal Operations Year 1: Cost of Sales and Fulfillment Year 2: Scaling Automation and AI Cumulative Synergies Realized $63M Run Rate Synergies Actioned as of 6/30/26 Run Rate Synergies Actioned as of 6/30/25$47M $8M $10M $12M $8M $5M $4M $4M $12M $22M $34M $42M $47M $51M Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Prior-period cumulative synergies realizedIn-period synergies realized Delivering on Net Cost Synergies from Sterling Acquisition (10/31/2024) 18 Note: Run rate synergy targets represent estimated timing and value.
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© 2026 First Advantage Full Year 2026 Guidance Details: Modeling Assumptions 19 $ in millions; all values are approximate Assumption Free Cash Flow Cash Flow from Operations less Capital expenditures, including capitalized software development $170 - $195 Capital expenditures, including capitalized software development $63 - $73 Net interest expense Excluding amortization of financing fees and fair value gains/(losses) from interest rate swaps $130 - $140 Depreciation and amortization excluding intangible amortization $50 - $55 Foreign currency impact on revenues ($4) - $6 Foreign currency impact on Adjusted EBITDA ($2) - $2 Cash income tax payments $65 - $75 Adjusted effective tax rate 25.5% - 26.0% Fully diluted shares outstanding ~174M Note: Actual results may differ materially from First Advantage’s Full Year 2026 Guidance as a result of, among other things, the factors described under “Forward-Looking Statements” in this presentation. Fully diluted shares outstanding includes the impact of shares repurchased through July 31, 2026.
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© 2026 First Advantage Sterling Acquisition Post-Close Strategic Priorities EXECUTING INTEGRATION PLAYBOOK Seamless integration process focused on customer retention, synergy realization, and operational efficiency led by a dedicated team and supported by all functional areas ACTIONING SYNERGIES Target run rate cost synergy range of $65M to $80M to be actioned within 2 years post-closing, driven by reductions in third-party data costs and efficiencies across operations, product and technology, and SG&A DELEVERAGING BALANCE SHEET Strong Adjusted EBITDA margins and robust operating cash flows will enable expected deleveraging MAINTAINING CONTINUITY WITH CUSTOMERS Enabling a smooth transition for Sterling customers while uncovering opportunities to enhance the customer value proposition and unlock upsell and cross-sell opportunities DRIVING INNOVATION Technology-driven innovation that provides customers with fast background checks; enabled through aligning sales, product, and technology organizations FOSTERING HIGH- PERFORMANCE CULTURE Fostering an environment of active participation and mutual respect that not only drives innovation and productivity but also ensures that everyone feels valued and empowered to succeed 1 2 3 4 5 6 20
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© 2026 First Advantage Base Growth Upsell/ Cross-sell Retention New Customers Long-Term Organic Revenue Growth Target Expected Vended Market Growth Existing Customers 2-3% 4-5% ~96% 4-5% 7-9% 6-7% Strategy and Key Organic Growth Drivers • Continued focus on AI, automation, and technology • Strong track record of innovation • Vertical go-to-market strategy • Candidate experience • Quality and compliance • Customer success • Proprietary data 1 2 New Customers Note: Percentages subject to rounding. 1. Based on average annual gross retention. 2. Reflects expected vended background scr eening market growth. Long-term Growth Algorithm Targets + – + = 21
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© 2026 First Advantage 1. Share-based compensation for the three months ended June 30, 2025, September 30, 2025, December 31, 2025, March 31, 2026, and June 30, 2026, includes approximately $1.8 million, $1.9 million, $1.5 million, $0.6 million, and $0.1 million, respectively, of incrementally recognized expense associated with the May 2023 modification of the vesting terms of outstanding unvested and unearned performance-based options, restricted stock units, and restricted stock awards. 2. Represents charges incurred related to acquisitions and similar transactions, primarily consisting of change in control-related costs, professional service fees, and other third-party costs. Transaction and acquisition related charges for the three months ended June 30, 2025, September 30, 2025, December 31, 2025, March 31, 2026, and June 30, 2026, include approximately $2.3 million, $1.4 million, $0.5 million, $ 0.2 million, and $0.3 million of expense, respectively, associated with the Sterling Acquisition. 3. Represents charges from organizational restructuring and integration activities, non-cash, and other charges primarily related to nonrecurring legal exposures, foreign currency (gains) losses, (gains) losses on the sale of assets, and other non- recurring items. Integration, restructuring, and other charges for the three months ended June 30, 2025, September 30, 2025, December 31, 2025, March 31, 2026, and June 30, 2026, include approximately $3.7 million, $3.8 million, $2.7 million, $1.4 million, and $2.2 million, respectively, of expense associated with the Sterling Acquisition. Adjusted EBITDA and Revenues 22 LTM in thousands, except percentages Jun 30, 2025 Q2 Sep 30, 2025 Q3 Dec 31, 2025 Q4 Mar 31, 2026 Q1 Jun 30, 2026 Q2 Jun 30, 2026 Net income 308$ 2,593$ 3,469$ 2,168$ 16,914$ 25,144$ Interest expense, net 44,785 40,041 37,261 29,841 31,608 138,751 (Benefit) provision for income taxes (7,610) (798) 3,750 1,137 8,142 12,231 Depreciation and amortization 61,906 62,274 62,737 62,190 61,893 249,094 Loss on extinguishment of debt 254 407 391 374 359 1,531 Share-based compensation(1) 5,742 5,721 5,026 4,430 5,240 20,417 Transaction and acquisition-related charges(2) 2,390 1,585 770 565 497 3,417 Integration, restructuring, and other charges(3) 6,171 6,677 3,433 4,582 3,868 18,560 Adjusted EBITDA 113,946$ 118,500$ 116,837$ 105,287$ 128,521$ 469,145$ Revenues 390,633 409,151 420,017 385,201 448,763 1,663,132 Net income margin 0.1% 0.6% 0.8% 0.6% 3.8% 1.5% Adjusted EBITDA Margin 29.2% 29.0% 27.8% 27.3% 28.6% 28.2% Quarters Ended
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© 2026 First Advantage To facilitate comparability, we present pro forma combined company results, consisting of First Advantage and Sterling historical results and certain pro forma adjustments as if the acquisition of Sterling had occurred on 1/1/2023. The pro forma information does not constitute Article 11 pro forma information. 1. Historical results through 6/30/2024 are from Sterling’s historical SEC filings and disclosures. Historical results for 7/1/2024 through 10/31/2024 (date of acquisition) are from Sterling’s books and records. Pro Forma 2024 Adjusted EBITDA and Revenues 23 in thousands, except percentages Net (loss) income (43,549)$ (110,273)$ 14,390$ (139,432)$ Interest expense, net 33,320 51,848 75,013 160,181 Provision (benefit) for income taxes 367 (4,342) 4,764 789 Depreciation and amortization 52,623 145,919 87,684 286,226 Loss on extinguishment of debt — 383 — 383 Share-based compensation 36,658 31,762 — 68,420 Transaction and acquisition-related charges 59,619 128,234 (181,851) 6,002 Integration, restructuring, and other charges 8,161 5,771 — 13,932 Adjusted EBITDA 147,198$ 249,302$ —$ 396,500$ Revenues 650,284 860,205 (929) 1,509,560 Ne t loss ma rgin (6.7)% (12.8)% n/a (9.2)% Adjusted EBITDA Margin 22.6% 29.0% n/a 26.3% Historical Pro Forma Adjustments for the Twelve Months E nded Dec 31, 2024 Period E nded Oct 31, 2024 Legacy Sterling (1) Year Ended Dec 31, 2024 Reported First Advantage Year Ended Dec 31, 2024 First Advantage
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© 2026 First Advantage 1. Share-based compensation for the year ended December 31, 2025 includes approximately $7.1 million of incrementally recognized expense associated with the May 2023 modification of the vesting terms of outstanding unvested and unearned performance-based options, restricted stock units, and restricted stock awards. 2. Transaction and acquisition related charges for the year ended December 31, 2025 include approximately $8.0 million of expense associated with the Sterling Acquisition, primarily consisting of $7.7 million of compensation expense attributable to converted Sterling equity awards. 3. Represents charges from organizational restructuring and integration activities, non-cash, and other charges primarily related to nonrecurring legal exposures, foreign currency (gains) losses, impairment of capitalized software, (gains) losses on the sale of assets, and other non-recurring items. Integration, restructuring, and other charges for the year ended December 31, 2025 include approximately $18.1 million of expense associated with the integration of Sterling, $1.5 million of expenses related to debt refinancing activities, as well as capitalized software impairment charges of approximately $1.2 million.2025 include approximately $18.1 million of expense associated with the integration of Sterling, $1.5 million of expenses related to debt refinancing activities, as well as capitalized software impairment charges of approximately $1.2 million Reported 2025 Adjusted EBITDA and Revenues 24 Year Ended in thousands, except percentages Dec 31, 2025 Net (loss) income (34,824)$ Interest expense, net 168,667 Provision (benefit) for income taxes (2,427) Depreciation and amortization 248,583 Loss on extinguishment of debt 1,052 Share-based compensation (1) 24,456 Transaction and acquisition-related charges (2) 8,741 Integration, restructuring, and other charges (3) 27,147 Adjusted EBITDA 441,395$ Revenues 1,574,389 Net (loss) income margin (2.2)% Adjusted EBITDA Margin 28.0%
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© 2026 First Advantage 1. Represents the loss on extinguishment and non-cash interest expense associated with the amortization of debt issuance costs related to the refinancing of the Company’s First Lien Credit Facility. This adjustment also includes the impact of changes in fair value of interest rate swaps, which represents the difference between unrealized fair value gains or losses and actual cash payments and receipts on the interest rate swaps. 2. Represents the depreciation and amortization expense related to incremental intangible and developed technology assets recorded due to the application of ASC 805, Business Combinations. As a result, the purchase accounting related depreciation and amortization expense will recur in future periods until the related assets are fully depreciated or amortized, and the related purchase accounting assets may contribute to revenue generation. 3. Share-based compensation for the three months ended June 30, 2025 and 2026 includes approximately $1.8 million and $0.1 million, respectively, of incrementally recognized expense associated with the May 2023 modification of the vesting terms of outstanding unvested and unearned performance-based options, restricted stock units, and restricted stock awards. 4. Represents charges incurred related to acquisitions and similar transactions, primarily consisting of change in control-related costs, professional service fees, and other third-party costs. Transaction and acquisition related charges for the three months ended June 30, 2025 and 2026 include approximately $2.3 million and $0.3 million, respectively, of expense associated with the Sterling Acquisition. 5. Represents charges from organizational restructuring and integration activities, non-cash, and other charges primarily related to nonrecurring legal exposures, foreign currency (gains) losses, (gains) losses on the sale of assets, and other non- recurring items. Integration, restructuring, and other charges for the three months ended June 30, 2025 and 2026, include approximately $3.7 million and $2.2 million, respectively, of expense associated with the Sterling integration. 6. Effective tax rates of approximately 25.6% and 25.9% have been used to compute Adjusted Net Income and Adjusted Diluted Earnings Per Share for the three months ended June 30, 2025 and 2026, respectively. Adjusted Net Income and Adjusted Earnings Per Share 25 in thousands Jun 30, 2025 Q2 Jun 30, 2026 Q2 Net income 308$ 16,914$ (Benefit) provision for income taxes (7,610) 8,142 (Loss) income before provision for income taxes (7,302) 25,056 Debt-related charges(1) 5,239 (1,632) Acquisition-related depreciation and amortization(2) 50,885 49,877 Share-based compensation(3) 5,742 5,240 Transaction and acquisition-related charges(4) 2,390 497 Integration, restructuring, and other charges(5) 6,171 3,868 Adjusted Net Income before income tax effect 63,125 82,906 Less: Adjusted income taxes (6) 16,160 21,480 Adjusted Net Income 46,965$ 61,426$ Quarters Ended Jun 30, 2025 Q2 Jun 30, 2026 Q2 Diluted net income per share (GAAP) 0.00$ 0.10$ Adjusted Net Income adjustments per share (Benefit) provision for income taxes (0.04) 0.05 Debt-related charges(1) 0.03 (0.01) Acquisition-related depreciation and amortization(2) 0.29 0.29 Share-based compensation(3) 0.03 0.03 Transaction and acquisition related charges(4) 0.01 0.00 Integration, restructuring, and other charges(5) 0.04 0.01 Adjusted income taxes (6) (0.09) (0.12) Adjusted Diluted Earnings Per Share (Non-GAAP) 0.27$ 0.35$ Weighted average number of shares outstanding used in computation of Adjusted Diluted Earnings Per Share: Weighted average number of shares outstanding—diluted (GAAP and Non-GAAP) 175,069,451 173,225,170 Quarters Ended
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© 2026 First Advantage 1. Represents the loss on extinguishment and non-cash interest expense associated with the amortization of debt issuance costs related to the refinancing of the Company’s First Lien Credit Facility. This adjustment also includes the impact of changes in fair value of interest rate swaps, which represents the difference between unrealized fair value gains or losses and actual cash payments and receipts on the interest rate swaps. 2. Represents the depreciation and amortization expense related to incremental intangible and developed technology assets recorded due to the application of ASC 805, Business Combinations. As a result, the purchase accounting related depreciation and amortization expense will recur in future periods until the related assets are fully depreciated or amortized, and the related purchase accounting assets may contribute to revenue generation. 3. Share-based compensation for the years ended December 31, 2024 and 2025 includes approximately $13.1 million and $7.1 million, respectively, of incrementally recognized expense associated with the May 2023 modification of the vesting terms of outstanding unvested and unearned performance-based options, restricted stock units, and restricted stock awards. Share- based compensation for the year ended December 31, 2024, also includes approximately $4.2 million of incrementally recognized expense associated with the retirements of the Company's former Chief Financial Officer and President, Americas. 4. Represents charges incurred related to acquisitions and similar transactions, primarily consisting of change in control-related costs, professional service fees, and other third-party costs. Transaction and acquisition related charges for the year ended December 31, 2024 and 2025 include approximately $125.7 million and $8.0 million of expense associated with the Sterling Acquisition. Also includes insurance costs incurred related to the First Advantage initial public offering. 5. Represents charges from organizational restructuring and integration activities, non-cash, and other charges primarily related to nonrecurring legal exposures, foreign currency (gains) losses, impairment of capitalized software, (gains) losses on the sale of assets, and other non-recurring items. Integration, restructuring, and other charges for the year ended December 31, 2025 include approximately $18.1 million of expense associated with the integration of Sterling, $1.5 million of expenses related to debt refinancing activities, as well as capitalized software impairment charges of approximately $1.2 million. 6. Effective tax rates of approximately 24.9% and 25.7% have been used to compute Adjusted Net Income and Adjusted Diluted Earnings Per Share for the years ended December 31, 2024 and 2025, respectively. As of December 31, 2025, we had net operating loss carryforwards of approximately $15.1 million for federal income tax purposes available to reduce future income subject to income taxes. The federal net operating loss carryforward is subject to annual limitation under IRC Section 382, which affects the timing of when these attributes can be used. As a result, the amount of actual cash taxes we may pay for federal income taxes differs significantly from the effective income tax rate computed in accordance with GAAP and from the normalized rate shown above.. Historical Adjusted Earnings Per Share 26 Dec 31, 2024 Dec 31, 2025 Diluted net loss per share (GAAP) (0.74)$ (0.20)$ Adjusted Net Loss adjustments per share Benefit for income taxes (0.03) (0.01) Debt-related charges(1) 0.00 0.10 Acquisition-related depreciation and amortization(2) 0.75 1.17 Share-based compensation(3) 0.21 0.14 Transaction and acquisition related charges(4) 0.85 0.05 Integration, restructuring, and other charges(5) 0.05 0.16 Adjusted income taxes (6) (0.27) (0.36) Adjusted Diluted Earnings Per Share (Non-GAAP) 0.82$ 1.04$ Weighted average number of shares outstanding used in computation of Adjusted Diluted Earnings Per Share: Weighted average number of shares outstanding—diluted (GAAP and Non-GAAP) 148,582,226 173,199,004 Options and restricted stock not included in weighted average number of shares outstanding—diluted (GAAP) (using treasury stock method) 2,606,405 1,956,781 Adjusted weighted average number of shares outstanding—diluted (Non-GAAP) 151,188,631 175,155,785 Years Ended
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© 2026 First Advantage 1. Constant currency revenues are calculated by translating current period amounts using prior-year period exchange rates. Constant Currency Revenues 27 Quarter Ended in thousands, except percentage Jun 30, 2026 Q2 Revenues, as reported (GAAP) 448,763$ Foreign currency translation impact(1) (810) Constant currency revenues 447,953$ Constant currency revenues growth 14.7%