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EXPERTS WITH IMPACT ™ FTI Consulting , Inc. EXPERTS Investor Presentation August 2026 2 FTI CONSULTING
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2 Cautionary Note about Forward-Looking Statements This presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact, including among other things, statements about future events, anticipated growth, industry prospects, business trends, our future results of operations and financial position, business strategy and plans, future revenues or performance, financing needs, and objectives of management for future operations, are forward-looking statements. Forward-looking statements often contain words such as “may,” “might,” “will,” “should,” “could,” “would,” “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” “commits,” “aspires,” “forecasts,” “future,” “goal,” “seeks” and variations of such words or similar expressions. There are anumber of risks, uncertainties and other factors that could cause our actual results or outcomes, and the timing of our results or outcomes, to differ materially from the forward-looking statements expressed or implied by this presentation. Although we believe that the expectations and assumptions reflected in these forward-looking statements are reasonable, we can provide no assurance that these expectations and assumptions will prove to be correct. Forward-looking statements relate to future events, results and outcomes and are inherently uncertain. Moreover, we operate in a very competitive and rapidly changing environment, and new risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements. Important factors that could cause our actual results or outcomes, and the timing of our results and outcomes, to differ materially from the forward-looking statements we make in this presentation include those set forth under the heading “Risk Factors” in Part I, Item 1A in the Company’s AnnualReport on Form 10-K for the year ended December 31, 2025 filed with the SEC on February 26, 2026 as well as in other information that we file with the SEC from time to time. All forward-looking statements are presented as of the date of this presentation and are expressly qualified in their entirety by the cautionary statements included herein. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statement for any reason.
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3 FTI Consulting: Experts with Impact FTI Consulting is an independent global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes FCN Publicly Traded $4.5B Equity Market Capitalization (1) 1982 Year Founded 8,100+ Employees Worldwide 850+ Senior Managing Directors 84 Cities 32 Countries and Territories 18 Industry Practice Groups Adviser to 99 of the world’s top 100 law firms 95 of Fortune Global 100 corporations are clients Adviser to 82 of the top 100 firms on the Private Equity International 300 list (1) All statistics above are as of December 31, 2025, except employees worldwide, equity market capitalization, Senior Managing Dire ctors, cities and countries. Equity market capitalization has been calculated by multiplying the number of total shares outstanding on July 23, 2026, by t he closing price per share reported on the New York Stock Exchange for July 30, 2026. Employees worldwide, Senior Managing Directors, cities and countries are as of June 30, 2026.
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4 Our Global Reach With offices in 84 cities and 32 countries and territories, FTI Consulting has a presence in every major financial center and every corner of the globe, and we successfully serve our clients wherever challenges and opportunities arise. The Americas â– Argentina â– Brazil â– British Virgin Islands â– Canada â– Cayman Islands â– Colombia â– Mexico â– United States Asia â– China â– India â– Japan â– Singapore â– South Korea Australia Office Locations Europe, Middle East, Africa â– Belgium â– Denmark â– Finland â– France â– Germany â– Ireland â– Italy â– Lebanon â– Netherlands â– Portugal â– Qatar â– Saudi Arabia â– South Africa â– Spain â– Sweden â– Switzerland â– United Arab Emirates â– United Kingdom 4
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5 Investment Thesis Leading global business advisory firm with strong people and strong positions: corporations, law firms and governments come to us when there is a critical need Organic growth strategy with an emphasis on profitable revenue growth Committed to building a profitable business with sustainable underlying growth, regardless of economic conditions Willingness to invest EBITDA in key growth areas where we have a right to win Healthy balance sheet and strong cash flows with a commitment to return capital to our shareholders Path toward sustained double-digit year-over-year Adjusted EPS growth over time
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6 Corporate Finance â–Ş Transactions â–Ş Transformation â–Ş Turnaround & Restructuring Strategic Communications â–Ş Corporate Reputation â–Ş Financial Communications â–Ş Public Affairs Forensic and Litigation Consulting â–Ş Construction, Projects & Assets and Environmental Solutions â–Ş Data & Analytics â–Ş Dispute Advisory Services â–Ş Healthcare Risk Management & Advisory â–Ş Risk & Investigations Economic Consulting â–Ş Antitrust & Competition Economics â–Ş Financial Economics â–Ş International Arbitration Technology â–Ş Blockchain & Digital Assets â–Ş Information Governance, Privacy & Security â–Ş Investigations â–Ş Litigation â–Ş M&A, Antitrust and Competition Five Segments, One Purpose Business Snapshot:
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7 Q2 2026 Segment Revenues Q2 2026 Total Adjusted Segment EBITDA (1) 41% 20% 19% 10% 10% 56% 6% 20% 1% Corporate Finance Forensic and Litigation Consulting Economic Consulting Technology Strategic Communications Revenues Snapshot: Segment Revenues and Total Adjusted Segment EBITDA 12% 6% (1) See accompanying financial tables and “End Notes: FTI Consulting Non-GAAP Financial Measures” for the reconciliation and definition of Total Adjusted Segment EBITDA and Adjusted Segment EBITDA, which are non- GAAP financial measures, to the most directly comparable GAAP financial measures.
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8 Corporate Finance ▪ Transactions – Diligence (Financial, Tax, HR, IT, Synergy and Regulatory) – Investment Banking – Merger Integration & Carve-Out – Valuation & Financial Advisory Services ▪ Transformation – Cost Transformation – Data & Technology Transformation – HR Transformation – Office of the Chief Financial Officer Solutions & Finance Transformation – Operations & Supply Chain Transformation – Revenue Transformation – Strategy ▪ Turnaround & Restructuring – Company Advisory – Creditor Advisory – Dispute Advisory & Litigation Support – Insolvency – Interim Management Services 26 countries and territories 71 offices 2,358 professionals (in thousands, except percentages and headcount data) (Unaudited) 2023 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2025 Q1 2026 Q2 2026 Segment Revenues $1,346,678 $1,391,206 $343,645 $379,239 $404,896 $423,189 $1,550,969 $409,502 $411,399 Segment Gross Profit Margin 32.1% 32.6% 32.6% 35.1% 37.4% 33.2% 34.6% 35.9% 34.3% Segment Operating Income $216,504 $225,711 $40,950 $78,128 $92,953 $76,730 $288,761 $85,230 $82,475 Adjusted Segment EBITDA (1) $230,837 $244,356 $55,947 $81,652 $96,413 $80,112 $314,124 $88,650 $85,963 Adjusted Segment EBITDA Margin (1) 17.1% 17.6% 16.3% 21.5% 23.8% 18.9% 20.3% 21.6% 20.9% Utilization 60% 58% 57% 61% 63% 59% 60% 62% 59% Billable Professionals 2,215 2,286 2,249 2,188 2,312 2,297 2,297 2,342 2,358 (1) See accompanying financial tables and “End Notes: FTI Consulting Non-GAAP Financial Measures” for the reconciliation and definition of Adjusted Segment EBITDA, which is a non-GAAP financial measure, to the most directly comparable GAAP financial measure, and for the definition of Adjusted EBITDA Margin, which is a non-GAAP financial measure.
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9 Corporate Finance (continued) Segment Offering Our Corporate Finance segment focuses on the strategic, operational, financial, transactional and capital needs of our clients around the world. Our clients include companies, boards of directors, investors, private equity sponsors, lenders, and other financing sources and creditor groups, governments and other interested parties. We deliver a wide range of services centered around three core offerings: Transactions, Transformation and Turnaround & Restructuring. Medium-Term Growth Opportunities Enhance Transformation and Transactions capabilities Grow Turnaround & Restructuring globally Deeper penetration of key industries e.g., Retail, Healthcare, Telecom, Media & Technology ("TMT"), Industrials, Automotive and Energy Q2 2026 Key Financial Commentary â–Ş Revenues increased $32.2 million, or 8.5%, to $411.4 million for the three months ended June 30, 2026, primarily due to higher realized bill rates for our transactions, transformation and turnaround & restructuring services, an increase in demand for transformation services, and higher success fees, which was partially offset by lower demand for turnaround & restructuring services. â–Ş Segment gross profit increased $8.0 million, or 6.0%, to $141.1 million for the three months ended June 30, 2026. Gross profit margin decreased 0.8 percentage points for the three months ended June 30, 2026. The decrease in gross profit margin was primarily due to higher compensation as a percentage of revenues, which included the impact of a 7.8% increase in billable headcount and a 2 percentage point decrease in utilization, which was partially offset by higher realized bill rates. â–Ş Adjusted Segment EBITDA was $86.0 million, or 20.9% of segment revenues, compared with $81.7 million, or 21.5% of segment revenues, in the prior year quarter.
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10 Forensic and Litigation Consulting ▪ Construction, Projects & Assets and Environmental Solutions (“Construction Solutions”) – Environmental Cost & Damages Analyses – Expert Services in Delay, Disruption, Quantum & Damages – Project Delivery, Asset Management Advisory & Transformation – Technology Enablement, Data Intelligence & Construction Analytics ▪ Data & Analytics – Data Strategy, Governance and Reconciliation – Data Visualization, Process Improvement and Business Intelligence – Machine Learning and Other Artificial Intelligence ("AI") Solutions – Remediation and Settlement Administration ▪ Dispute Advisory Services – Claims in International Public Law – Complex Commercial and Regulatory Disputes – Energy-related Disputes – Environmental Dispute Resolution – Financial Products and Broker-dealer Disputes – Insurance-related Disputes – Intellectual Property – Labor and Employment ▪ Healthcare Risk Management & Advisory – Disputes and Investigations – Financial Advisory – Managed Care & Value-based Care – Risk, Regulatory & Quality ▪ Risk & Investigations – Accounting Advisory & Restatements – Anti-Bribery & Corruption Investigations – Anti-money Laundering Investigations – Cybersecurity Investigations – International Trade – Financial Regulatory Investigations – Forensic Accounting & Fraud Investigations – Geopolitical and Related Security Risk – Monitorships Services 1,527 professionals 68 offices 20 countries (in thousands, except percentages and headcount data) (Unaudited) 2023 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2025 Q1 2026 Q2 2026 Segment Revenues $654,105 $690,211 $190,602 $186,517 $194,689 $192,879 $764,687 $192,878 $194,254 Segment Gross Profit Margin 33.1% 32.6% 38.1% 35.3% 38.2% 31.8% 35.8% 33.9% 35.1% Segment Operating Income $81,296 $77,490 $30,106 $29,071 $40,460 $21,586 $121,223 $23,085 $29,215 Adjusted Segment EBITDA (1) $88,109 $86,717 $37,523 $31,188 $42,616 $23,818 $135,145 $25,264 $31,354 Adjusted Segment EBITDA Margin (1) 13.5% 12.6% 19.7% 16.7% 21.9% 12.3% 17.7% 13.1% 16.1% Utilization 57% 57% 59% 57% 58% 54% 57% 57% 54% Billable Professionals 1,447 1,542 1,509 1,482 1,533 1,541 1,541 1,543 1,527 (1) See accompanying financial tables and “End Notes: FTI Consulting Non-GAAP Financial Measures” for the reconciliation and definition of Adjusted Segment EBITDA, which is a non-GAAP financial measure, to the most directly comparable GAAP financial measure, and for the definition of Adjusted EBITDA Margin, which is a non-GAAP financial measure.
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11 Forensic and Litigation Consulting (continued) Q2 2026 Key Financial Commentary â–Ş Revenues increased $7.7 million, or 4.1%, to $194.3 million for the three months ended June 30, 2026, primarily due to higher realized bill rates and demand for our risk & investigations services, which was partially offset by lower demand for our dispute advisory services. â–Ş Segment gross profit increased $2.5 million, or 3.7%, to $68.2 million for the three months ended June 30, 2026. Gross profit margin was relatively flat for the three months ended June 30, 2026, primarily due to a 3 percentage point decrease in utilization, which was offset by higher realized bill rates. â–Ş Adjusted Segment EBITDA was $31.4 million, or 16.1% of segment revenues, compared with $31.2 million, or 16.7% of segment revenues, in the prior year quarter. Segment Offering Our Forensic and Litigation Consulting segment provides law firms, companies, boards of directors, government entities, private equity firms and other interested parties with a multidisciplinary and independent range of services across risk & investigations and disputes, supported by our data & analytics technology-enabled solutions, with a focus on highly regulated industries. Our services are centered around five core offerings: Construction Solutions, Data & Analytics, Dispute Advisory Services, Healthcare Risk Management & Advisory and Risk & Investigations, which includes our cybersecurity and financial services-related offerings. Medium-Term Growth Opportunities Enhance Construction, Projects and Assets & Environmental Solutions, Cybersecurity and Data & Analytics capabilities Grow overseas businesses e.g., United Kingdom and Hong Kong
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12 Economic Consulting ▪ Antitrust & Competition Economics – M&A-related Antitrust – Non-M&A-related Antitrust ▪ Financial Economics – Contractual Claims – Rate Setting – Securities Litigation & Risk Management – Transfer Pricing – Valuation ▪ International Arbitration – Business Valuations – Commercial and Treaty Disputes – Economic Damages – Litigation Support Services 56 offices 24 countries 970 professionals (in thousands, except percentages and headcount data) (Unaudited) 2023 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2025 Q1 2026 Q2 2026 Segment Revenues $771,374 $863,557 $179,861 $191,657 $173,086 $176,225 $720,829 $175,648 $188,812 Segment Gross Profit Margin 28.3% 27.2% 23.0% 21.8% 15.0% 18.9% 19.7% 11.7% 19.8% Segment Operating Income (Loss) $109,818 $104,090 $12,089 $12,807 $(5,823) $(279) $18,794 $(7,331) $7,444 Adjusted Segment EBITDA (1) $115,807 $109,498 $14,431 $14,183 $(4,562) $1,027 $25,079 $(5,882) $8,804 Adjusted Segment EBITDA Margin (1) 15.0% 12.7% 8.0% 7.4% (2.6)% 0.6% 3.5% (3.3)% 4.7% Utilization 67% 66% 62% 64% 55% 55% 59% 61% 61% Billable Professionals 1,089 1,110 1,019 991 1,028 1,014 1,014 1,000 970 (1) See accompanying financial tables and “End Notes: FTI Consulting Non-GAAP Financial Measures” for the reconciliation and definition of Adjusted Segment EBITDA, which is a non-GAAP financial measure, to the most directly comparable GAAP financial measure, and for the definition of Adjusted EBITDA Margin, which is a non-GAAP financial measure.
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13 Economic Consulting (continued) Q2 2026 Key Financial Commentary â–Ş Revenues decreased $2.8 million, or 1.5%, to $188.8 million for the three months ended June 30, 2026, primarily due to lower demand for our non-M&A-related antitrust and international arbitration services, which was partially offset by higher demand for M&A- related antitrust services and higher realized bill rates for our financial economics services. â–Ş Segment gross profit decreased $4.4 million, or 10.4%, to $37.5 million for the three months ended June 30, 2026. Gross profit margin decreased 2.0 percentage points for the three months ended June 30, 2026. The decrease in gross profit margin was primarily due to a 3 percentage point decrease in utilization, which was partially offset by higher realized bill rates. â–Ş Adjusted Segment EBITDA was $8.8 million, or 4.7% of segment revenues, compared with $14.2 million, or 7.4% of segment revenues, in the prior year quarter. Segment Offering Our Economic Consulting segment, including subsidiary Compass Lexecon LLC, provides law firms, companies, government entities and other interested parties with analyses of complex economic issues for use in international arbitration, legal and regulatory proceedings and strategic decision making and public policy debates around the world. We deliver a wide range of services centered around three core offerings: Antitrust & Competition Economics, Financial Economics and International Arbitration. Medium-Term Growth Opportunities Maintain leading position of Compass Lexecon in the U.S. Grow overseas businesses e.g., EMEA, Australia and Asia Develop adjacent businesses in the U.S. e.g., International Arbitration, Energy, Healthcare, TMT and Financial Services
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14 Technology 16 countries 45 offices 641 professionals Services (in thousands, except percentages and headcount data) (Unaudited) 2023 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2025 Q1 2026 Q2 2026 Segment Revenues $387,855 $417,637 $97,156 $83,599 $94,081 $99,047 $373,883 $102,323 $99,017 Segment Gross Profit Margin 38.3% 34.7% 33.9% 29.6% 33.9% 34.7% 33.1% 32.6% 32.2% Segment Operating Income $48,196 $41,875 $6,594 $1,560 $9,286 $10,669 $28,109 $7,703 $4,813 Adjusted Segment EBITDA (1) $62,711 $58,541 $11,592 $5,284 $13,644 $14,798 $45,318 $11,833 $9,050 Adjusted Segment EBITDA Margin (1) 16.2% 14.0% 11.9% 6.3% 14.5% 14.9% 12.1% 11.6% 9.1% Billable Professionals 628 714 681 655 680 662 662 665 641 ▪ Blockchain & Digital Assets – Blockchain Managed Services – Cryptocurrency and Digital Asset Regulatory Compliance – Cryptocurrency Disputes and Investigations – Decentralized Due Diligence – Digital Asset Expert Services and Investigations – Enterprise Blockchain Innovation ▪ Information Governance, Privacy & Security – Advisory on Governance, Policy, Standards & Execution, including for AI – Compliance and Risk Technology, including Governance, Risk and Compliance – Data Privacy Program Development, Implementation & Data Subject Access Requests – Data Migration, Remediation, Disposition and Protection – Legal Department Operations and Technology – Microsoft 365 and Copilot Readiness, Governance, Data Protection and Risk Management – Pixel, Ad Tracker and AdTech Advisory & Services – Post-data Breach Privacy Analysis & Response ▪ Investigations – Digital Forensics & Collection – E-Discovery – Emerging Data Solutions – Expert Witness Testimony – Find Facts Fast Solutions ▪ Litigation – End-to-end E-discovery Software and Solutions – Legal Hold & Preservation – Managed Review ▪ M&A, Antitrust and Competition – Contracts for Pre- and Post-M&A Analysis and Repapering – Dawn Raids – Phase II Merger Investigations (EMEA) – Pre- and Post-M&A Data Separation and Remediation – “Second Request” Investigations under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (U.S.) – “Secondary Information Request” Investigations (Canada) (1) See accompanying financial tables and “End Notes: FTI Consulting Non-GAAP Financial Measures” for the reconciliation and definition of Adjusted Segment EBITDA, which is a non-GAAP financial measure, to the most directly comparable GAAP financial measure, and for the definition of Adjusted EBITDA Margin, which is a non-GAAP financial measure.
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15 Technology (continued) Q2 2026 Key Financial Commentary ▪ Revenues increased $15.4 million, or 18.4%, to $99.0 million for the three months ended June 30, 2026, primarily due to higher demand for our M&A-related “second request” services, which was partially offset by lower demand for our investigations services. ▪ Segment gross profit increased $7.1 million, or 28.7%, to $31.8 million for the three months ended June 30, 2026. Gross profit margin increased 2.6 percentage points for the three months ended June 30, 2026. The increase in gross profit margin was primarily due to an increase in profitability of our consulting, processing and review services, which was partially offset by a decrease in profitability of our hosting services. ▪ Adjusted Segment EBITDA was $9.1 million, or 9.1% of segment revenues, compared with $5.3 million, or 6.3% of segment revenues, in the prior year quarter. Segment Offering Our Technology segment provides companies, law firms, private equity firms and government entities with a comprehensive global portfolio of digital insights and risk management, AI and data services. Our professionals help organizations better address risk as the growing volume and variety of enterprise and emerging data intersects with legal, regulatory and compliance needs. We deliver a wide range of expert and AI-powered solutions driven by five core client needs: Blockchain & Digital Assets, Information Governance, Privacy & Security, Investigations, Litigation, and M&A, Antitrust and Competition. Medium-Term Growth Opportunities Expand addressable market through new distribution channels for Consulting & Services Invest in new and adjacent services e.g., Information Governance, Privacy & Security Services and Contract Intelligence Grow overseas businesses
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16 Strategic Communications Services ▪ Corporate Reputation – Crisis and Issues Management – Cybersecurity and Data Privacy Communications – Digital, Analytics and Insights – Litigation Communications – People & Transformation ▪ Financial Communications – Corporate Governance & Shareholder Activism – Environmental, Social and Governance & Sustainability – M&A Communications – Restructuring and Financial Issues ▪ Public Affairs – Government Investigations – Government Relations – Public Affairs Research & Opinion Polling – Public Affairs Strategy – Public Policy Advocacy 913 professionals 44 offices 22 countries (in thousands, except percentages and headcount data) (Unaudited) 2023 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2025 Q1 2026 Q2 2026 Segment Revenues $329,230 $336,041 $87,018 $102,650 $89,415 $99,406 $378,489 $102,994 $99,982 Segment Gross Profit Margin 36.2% 36.5% 34.9% 36.2% 38.2% 38.7% 37.0% 39.2% 37.7% Segment Operating Income $47,167 $45,790 $8,725 $17,474 $15,865 $17,963 $60,027 $20,838 $17,390 Adjusted Segment EBITDA (1) $50,909 $49,969 $12,903 $18,481 $16,909 $19,039 $67,332 $21,890 $18,497 Adjusted Segment EBITDA Margin (1) 15.5% 14.9% 14.8% 18.0% 18.9% 19.2% 17.8% 21.3% 18.5% Billable Professionals 971 981 937 892 904 907 907 917 913 (1) See accompanying financial tables and “End Notes: FTI Consulting Non-GAAP Financial Measures” for the reconciliation and definition of Adjusted Segment EBITDA, which is a non-GAAP financial measure, to the most directly comparable GAAP financial measure, and for the definition of Adjusted EBITDA Margin, which is a non-GAAP financial measure.
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17 Strategic Communications (continued) Segment Offering Our Strategic Communications segment develops and executes communications strategies to help management teams, boards of directors, law firms, governments and regulators manage change and mitigate risk surrounding transformational and disruptive events, including crises, transactions, investigations, disputes, regulation and legislation. We deliver a wide range of services centered around three core offerings: Corporate Reputation, Financial Communications and Public Affairs. Medium-Term Growth Opportunities Further develop large, complex client relationships Enhance market share in highly regulated industries e.g., Financial Services, Energy, Healthcare, Industrials and TMT Leverage FTI Consulting’s services and platform to enhance client results Q2 2026 Key Financial Commentary ▪ Revenues decreased $2.7 million, or 2.6%, to $100.0 million for the three months ended June 30, 2026. The decrease in revenues was primarily due to a $7.4 million decline in pass- through revenues. Excluding pass-through revenues, revenues increased $4.7 million, or 5.4%, to $92.4 million, primarily due to higher demand for our corporate reputation services. ▪ Segment gross profit increased $0.6 million, or 1.5%, to $37.7 million for the three months ended June 30, 2026. Gross profit margin increased 1.5 percentage points for the three months ended June 30, 2026. The increase in gross profit margin was primarily due to lower pass-through revenues and expenses, which was partially offset by higher compensation expenses as a percentage of revenues. ▪ Adjusted Segment EBITDA was $18.5 million, or 18.5% of segment revenues, compared with $18.5 million, or 18.0% of segment revenues, in the prior year quarter.
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18 Second Quarter 2026 Select Awards & Accolades
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20 FY 2023 – Q2 2026 and FY 2026 Guidance: Revenues $3,940 - $4,100
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21 (1) See accompanying financial tables and “End Notes: FTI Consulting Non-GAAP Financial Measures” for the reconciliation and definition of Adjusted EBITDA, which is a non-GAAP financial measure, to the most directly comparable GAAP financial measure. Net income Adjusted EBITDA (1) FY 2023 – Q2 2026: Net Income and Adjusted EBITDA
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22 (1) See accompanying financial tables and “End Notes: FTI Consulting Non-GAAP Financial Measures” for the reconciliation and definition of Adjusted Earnings per Diluted Share, which is a non-GAAP financial measure, to the most directly comparable GAAP financial measure. FY 2023 – Q2 2026 and FY 2026 Guidance: Earnings per Diluted Share and Adjusted Earnings per Diluted Share $8.70 - $9.30 $9.10 - $9.70 Adjusted Earnings per Diluted Share (1) Earnings per Diluted Share
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23 All numbers in thousands, except for DSO Q2 2026 Q1 2026 Q2 2025 Cash and cash equivalents $ 163,747 $ 198,276 $ 152,831 Accounts receivable, net $ 1,158,395 $ 1,148,084 $ 1,126,919 Days sales outstanding (“DSO”) (1) 99 98 100 Net cash provided by (used in) operating activities $ 152,294 $ (310,023) $ 55,693 Purchases of property and equipment $ (11,267) $ (10,618) $ (17,425) Purchase and retirement of common stock, including excise tax $ (393,210) $ (126,827) $ (354,037) Total Debt (2) $ 1,020,000 $ 755,000 $ 470,000 Free Cash Flow (3) $ 141,027 $ (320,641) $ 38,268 Q2 2026, Q1 2026 and Q2 2025: Select Cash Position and Capital Allocation (1) DSO is a performance measure used to assess how quickly revenues are collected by the Company. We calculate DSO at the end ofeach reporting period by dividing net accounts receivable reduced by billings in excess of services provided, by revenues for the quarter, adjusted for changes in foreign exchange rates. We multiply the result by the number of days in the quarter. (2) On March 17, 2026, we entered into an incremental amendment to our Second Amended and Restated Credit Agreement which provides for a term loan in the aggregate amount of $300.0 million (the “Incremental Term Loan”). Total debt excludes the impact of unamortized deferred issuance costs related to the Incremental Term Loan. (3) See accompanying financial tables and “End Notes: FTI Consulting Non-GAAP Financial Measures” for the reconciliation and definition of Free Cash Flow, which is a non-GAAP financial measure, to the most directly comparable GAAP financial measure.
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25 Reconciliation of Net Income to Adjusted EBITDA (in thousands) Q2 2026 Q1 2026 FY 2025 FY 2024 FY 2023 Net income $ 57,810 $ 57,631 $ 270,871 $ 280,088 $ 274,892 Income tax provision 15,180 20,915 100,140 70,683 83,471 Interest income and other 401 (1,074) (3,330) (10,360) 4,867 Interest expense 11,630 6,445 21,396 6,951 14,331 Depreciation of property and equipment 12,279 12,289 45,764 43,910 41,079 Amortization of intangible assets 539 612 3,479 4,183 6,159 Special charges — — 25,295 8,230 — Extraordinary Litigation-Related Expenses (1) 6,623 — — — — Adjusted EBITDA (2) $ 104,462 $ 96,818 $ 463,615 $ 403,685 $ 424,799 (1) See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definition of “Extraordinary Litigation-Related Expenses.” (2) See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definition of Adjusted EBITDA, which is a non-GAAP financial measure.
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26 Three Months Ended June 30, 2026 and March 31, 2026 Reconciliations of Net Income and Operating Income (Loss) to Adjusted Segment EBITDA and Adjusted EBITDA All numbers in $000s (1) See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definition of “Extraordinary Litigation-Related Expenses.” (2) See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definitions of Adjusted Segment EBITDA and Adjusted EBITDA, which are non-GAAP financial measures. Three Months Ended June 30, 2026 Corporate Finance Forensic and Litigation Consulting Economic Consulting Technology Strategic Communications Unallocated Corporate Total Net income $ 57,810 Interest income and other 401 Interest expense 11,630 Income tax provision 15,180 Operating income $ 82,475 $ 29,215 $ 7,444 $ 4,813 $ 17,390 $ (56,316) $ 85,021 Depreciation of property and equipment 3,208 1,949 1,360 4,237 1,038 487 12,279 Amortization of intangible assets 280 190 — — 69 — 539 Extraordinary Litigation-Related Expenses (1) — — — — — 6,623 6,623 Adjusted EBITDA (2) $ 85,963 $ 31,354 $ 8,804 $ 9,050 $ 18,497 $ (49,206) $ 104,462 Three Months Ended March 31, 2026 Corporate Finance Forensic and Litigation Consulting Economic Consulting Technology Strategic Communications Unallocated Corporate Total Net income $ 57,631 Interest income and other (1,074) Interest expense 6,445 Income tax provision 20,915 Operating income (loss) $ 85,230 $ 23,085 $ (7,331) $ 7,703 $ 20,838 $ (45,608) $ 83,917 Depreciation of property and equipment 3,105 1,950 1,449 4,130 984 671 12,289 Amortization of intangible assets 315 229 — — 68 — 612 Adjusted EBITDA (2) $ 88,650 $ 25,264 $ (5,882) $ 11,833 $ 21,890 $ (44,937) $ 96,818
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27 Three Months Ended December 31, 2025 and September 30, 2025 Reconciliations of Net Income and Operating Income (Loss) to Adjusted Segment EBITDA and Adjusted EBITDA All numbers in $000s (1) See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definitions of Adjusted Segment EBITDA and Adjusted EBITDA, which are non-GAAP financial measures. Three Months Ended December 31, 2025 Corporate Finance Forensic and Litigation Consulting Economic Consulting Technology Strategic Communications Unallocated Corporate Total Net income $ 54,531 Interest income and other (864) Interest expense 7,537 Income tax provision 32,232 Operating income (loss) $ 76,730 $ 21,586 $ (279) $ 10,669 $ 17,963 $ (33,233) $ 93,436 Depreciation of property and equipment 3,052 2,003 1,306 4,129 1,006 677 12,173 Amortization of intangible assets 330 229 — — 70 — 629 Adjusted EBITDA (1) $ 80,112 $ 23,818 $ 1,027 $ 14,798 $ 19,039 $ (32,556) $ 106,238 Three Months Ended September 30, 2025 Corporate Finance Forensic and Litigation Consulting Economic Consulting Technology Strategic Communications Unallocated Corporate Total Net income $ 82,818 Interest income and other (1,692) Interest expense 7,634 Income tax provision 28,910 Operating income (loss) $ 92,953 $ 40,460 $ (5,823) $ 9,286 $ 15,865 $ (35,071) $ 117,670 Depreciation of property and equipment 2,977 1,927 1,261 4,358 976 624 12,123 Amortization of intangible assets 483 229 — — 68 — 780 Adjusted EBITDA (1) $ 96,413 $ 42,616 $ (4,562) $ 13,644 $ 16,909 $ (34,447) $ 130,573
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28 Three Months Ended June 30, 2025 and March 31, 2025 Reconciliations of Net Income and Operating Income to Adjusted Segment EBITDA and Adjusted EBITDA All numbers in $000s (1) See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definitions of Adjusted Segment EBITDA and Adjusted EBITDA, which are non-GAAP financial measures. Three Months Ended June 30, 2025 Corporate Finance Forensic and Litigation Consulting Economic Consulting Technology Strategic Communications Unallocated Corporate Total Net income $ 71,698 Interest income and other 2,068 Interest expense 5,257 Income tax provision 20,241 Operating income $ 78,128 $ 29,071 $ 12,807 $ 1,560 $ 17,474 $ (39,776) $ 99,264 Depreciation of property and equipment 2,768 1,889 1,376 3,724 938 628 11,323 Amortization of intangible assets 756 228 — — 69 — 1,053 Adjusted EBITDA (1) $ 81,652 $ 31,188 $ 14,183 $ 5,284 $ 18,481 $ (39,148) $ 111,640 Three Months Ended March 31, 2025 Corporate Finance Forensic and Litigation Consulting Economic Consulting Technology Strategic Communications Unallocated Corporate Total Net income $ 61,824 Interest income and other (2,842) Interest expense 968 Income tax provision 18,757 Operating income $ 40,950 $ 30,106 $ 12,089 $ 6,594 $ 8,725 $ (19,757) $ 78,707 Depreciation of property and equipment 2,582 1,713 1,359 3,070 841 580 10,145 Amortization of intangible assets 719 229 — — 69 — 1,017 Special charges 11,696 5,475 983 1,928 3,268 1,945 25,295 Adjusted EBITDA (1) $ 55,947 $ 37,523 $ 14,431 $ 11,592 $ 12,903 $ (17,232) $ 115,164
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29 Years Ended December 31, 2025 and December 31, 2024 Reconciliations of Net Income and Operating Income to Adjusted Segment EBITDA and Adjusted EBITDA All numbers in $000s (1) See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definitions of Adjusted Segment EBITDA and Adjusted EBITDA, which are non-GAAP financial measures. Year Ended December 31, 2025 Corporate Finance Forensic and Litigation Consulting Economic Consulting Technology Strategic Communications Unallocated Corporate Total Net income $ 270,871 Interest income and other (3,330) Interest expense 21,396 Income tax provision 100,140 Operating income $ 288,761 $ 121,223 $ 18,794 $ 28,109 $ 60,027 $ (127,837) $ 389,077 Depreciation of property and equipment 11,379 7,532 5,302 15,281 3,761 2,509 45,764 Amortization of intangible assets 2,288 915 — — 276 — 3,479 Special charges 11,696 5,475 983 1,928 3,268 1,945 25,295 Adjusted EBITDA (1) $ 314,124 $ 135,145 $ 25,079 $ 45,318 $ 67,332 $ (123,383) $ 463,615 Year Ended December 31, 2024 Corporate Finance Forensic and Litigation Consulting Economic Consulting Technology Strategic Communications Unallocated Corporate Total Net income $ 280,088 Interest income and other (10,360) Interest expense 6,951 Income tax provision 70,683 Operating income $ 225,711 $ 77,490 $ 104,090 $ 41,875 $ 45,790 $ (147,594) $ 347,362 Depreciation of property and equipment 10,251 6,604 5,400 15,999 3,607 2,049 43,910 Amortization of intangible assets 3,068 838 — — 277 — 4,183 Special charges 5,326 1,785 8 667 295 149 8,230 Adjusted EBITDA (1) $ 244,356 $ 86,717 $ 109,498 $ 58,541 $ 49,969 $ (145,396) $ 403,685
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30 Year Ended December 31, 2023 Reconciliations of Net Income and Operating Income to Adjusted Segment EBITDA and Adjusted EBITDA All numbers in $000s (1) See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definitions of Adjusted Segment EBITDA and Adjusted EBITDA, which are non-GAAP financial measures. Year Ended December 31, 2023 Corporate Finance Forensic and Litigation Consulting Economic Consulting Technology Strategic Communications Unallocated Corporate Total Net income $ 274,892 Interest income and other 4,867 Interest expense 14,331 Income tax provision 83,471 Operating income $ 216,504 $ 81,296 $ 109,818 $ 48,196 $ 47,167 $ (125,420) $ 377,561 Depreciation of property and equipment 9,254 6,030 5,989 14,515 3,445 1,846 41,079 Amortization of intangible assets 5,079 783 — — 297 — 6,159 Adjusted EBITDA (1) $ 230,837 $ 88,109 $ 115,807 $ 62,711 $ 50,909 $ (123,574) $ 424,799
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31 Reconciliations of Net Income to Adjusted Net Income and Earnings per Diluted Share to Adjusted Earnings per Diluted Share (in thousands, except for per share data) Q2 2026 Q1 2026 FY 2025 FY 2024 FY 2023 Net income $ 57,810 $ 57,631 $ 270,871 $ 280,088 $ 274,892 Add back: Special charges — — 25,295 8,230 — Tax impact of special charges — — (5,799) (1,857) — Extraordinary Litigation-Related Expenses (1) 6,623 — — — — Tax impact of Extraordinary Litigation-Related Expenses (1) (1,694) — — — — Adjusted Net Income (2) $ 62,739 $ 57,631 $ 290,367 $ 286,461 $ 274,892 Earnings per common share – diluted $ 1.99 $ 1.90 $ 8.24 $ 7.81 $ 7.71 Add back: Special charges — — 0.77 0.23 — Tax impact of special charges — — (0.18) (0.05) — Extraordinary Litigation-Related Expenses (1) 0.23 — — — — Tax impact of Extraordinary Litigation-Related Expenses (1) (0.06) — — — — Adjusted earnings per common share – diluted (2) $ 2.16 $ 1.90 $ 8.83 $ 7.99 $ 7.71 Weighted average number of common shares outstanding – diluted 29,038 30,329 32,881 35,845 35,646 (1) See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definition of “Extraordinary Litigation-Related Expenses.” (2) See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definitions of Adjusted Net Income and Adjusted Earnings perDiluted Share, which are non-GAAP financial measures.
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32 Reconciliation of 2026 Earnings per Diluted Share Guidance to Adjusted Earnings per Diluted Share Guidance Year Ended December 31, 2026 Low High Guidance on estimated earnings per common share — diluted (GAAP) (1)(2) $ 8.70 $ 9.30 Extraordinary Litigation-Related Expenses (3) 0.54 0.54 Tax impact of Extraordinary Litigation-Related Expenses (3) (0.14) (0.14) Guidance on estimated adjusted earnings per common share (non-GAAP) (1)(2) $ 9.10 $ 9.70 (1) See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definition of Adjusted Earnings per Diluted Share, which is a non-GAAP financial measure. (2) The forward-looking guidance on estimated 2026 Earnings per Diluted Share and Adjusted Earnings per Diluted Share does not reflect other gains and losses (all of which would be excluded from Adjusted Earnings per Diluted Share) related to the future impact of remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges, the gain or loss on sale of a business or losses on early extinguishment of debt, as these items are dependent on future events that are uncertain and difficult to predict. (3) See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definition of “Extraordinary Litigation-Related Expenses.”
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33 Reconciliation of Net Income to Total Adjusted Segment EBITDA (in thousands) Q2 2026 Net income $ 57,810 Add back: Income tax provision 15,180 Interest income and other 401 Interest expense 11,630 Unallocated corporate expenses 56,316 Segment depreciation expense 11,792 Amortization of intangible assets 539 Total Adjusted Segment EBITDA (1) $ 153,668 (1) See "End Notes: FTI Consulting Non-GAAP Financial Measures" for the definition of Total Adjusted Segment EBITDA, which isa non-GAAP financial measure.
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34 Reconciliation of Net Cash Provided by (Used in) Operating Activities to Free Cash Flow (in thousands) Q2 2026 Q1 2026 Q2 2025 Net cash provided by (used in) operating activities $ 152,294 $ (310,023) $ 55,693 Purchases of property and equipment (11,267) (10,618) (17,425) Free Cash Flow (1) $ 141,027 $ (320,641) $ 38,268 (1) See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definition of Free Cash Flow, which is a non-GAAP financial measure.
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35 End Notes: FTI Consulting Non-GAAP Financial Measures In this presentation, we sometimes use information derived from consolidated and segment financial information that may not be presented in our financial statements or prepared in accordance with generally accepted accounting principles in the United States ("GAAP"). Certain of these financial measures are considered not in conformity with GAAP (“non-GAAP financial measures”) under the Securities and Exchange Commission ("SEC") rules. Specifically, we have referred to the following non-GAAP financial measures in this presentation: • Total Segment Operating Income • Adjusted Segment EBITDA • Total Adjusted Segment EBITDA • Adjusted EBITDA • Adjusted EBITDA Margin • Adjusted Net Income • Adjusted Earnings per Diluted Share • Free Cash Flow We have included the definition of Segment Operating Income, which is a GAAP financial measure, below in order to more fully define the components of certain non-GAAP financial measures in this presentation. We define Segment Operating Income as a segment’s share of consolidated operating income. We use Segment Operating Income for the purpose of calculating Adjusted Segment EBITDA, which is a non-GAAP financial measure. We define Adjusted Segment EBITDA as Segment Operating Income before depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges and goodwill impairment charges. We use Adjusted Segment EBITDA as a basis to internally evaluate the financial performance of our segments because we believe it reflects core operating performance and provides an indicator of the segment’s ability to generate cash. We define Total Adjusted Segment EBITDA, which is a non-GAAP financial measure, as the total of Adjusted Segment EBITDA for all segments, which excludes unallocated corporate expenses. We define Adjusted EBITDA, which is a non-GAAP financial measure, as consolidated net income before income tax provision, other non-operating income (expense), depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges, gain or loss on sale of a business, losses on early extinguishment of debt and Extraordinary Litigation-Related Expenses (as defined below). We define Adjusted EBITDA Margin, which is a non-GAAP financial measure, as Adjusted EBITDA as a percentage of total revenues. We believe that these non-GAAP financial measures, when considered together with our GAAP financial results and GAAP financial measures, provide management and investors with a more complete understanding of our operating results, including underlying trends. Many of our competitors use alternative measures of operating performance. Non-GAAP financial measures are used by investors, financial analysts, rating agencies and others to value and compare the financial performance of companies in our industry. Therefore, we also believe that our non-GAAP financial measures, considered along with corresponding GAAP financial measures, provide management and investors with useful supplemental information. We define Adjusted Net Income and Adjusted Earnings per Diluted Share (“Adjusted EPS”), which are non-GAAP financial measures, as net income and earnings per diluted share (“EPS”), respectively, excluding the impact of remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges, the gain or loss on sale of a business, losses on early extinguishment of debt and Extraordinary Litigation-Related Expenses (as defined below). We use Adjusted Net Income for the purpose of calculating Adjusted EPS. Management uses Adjusted EPS to assess total Company operating performance on a consistent basis. We believe that these non-GAAP financial measures, when considered together with our GAAP financial results and GAAP financial measures, provide management and investors with useful supplemental information on our business operating results, including underlying trends. We define Free Cash Flow, which is a non-GAAP financial measure, as net cash provided by (used in) operating activities less cash payments for purchases of property and equipment. We believe this non-GAAP financial measure, when considered together with our GAAP financial results, provides management and investors with useful supplemental information on the Company’s ability to generate cash for ongoing business operations and capital deployment. “Extraordinary Litigation-Related Expenses” represent expenses related to the Company’s litigation in the case captioned FTI Consulting, Inc. et al., v. Jonathan M. Orszag et al., 8:23-cv- 03200-BAH-AAQ (D.Md.) (together with ancillary proceedings, “FTI vs. Orszag, et al”). In May 2026, the United States District Court for the District of Maryland (the “Court”) allowed the Company to file a third amended complaint to an existing proceeding against Jonathan Orszag, adding Econic Partners LLC, a competitor of the Company, and Dr. Mark Israel, a former Company employee, as defendants. The third amended complaint also added additional claims, including for theft of Company trade secrets and conspiracy to unlawfully compete. This litigation was originally filed in November 2023 against Mr. Orszag, a former Company employee, to enforce the terms of his employment agreement. As a result of the Court’s allowance of the third amended complaint, in the Company’s judgment, beginning in the second quarter of 2026, FTI vs Orszag, et al became non-recurring and outside of the ordinary course of business based on the following considerations: (i) the magnitude of the proceedings, (ii) the complexity of the proceedings, (iii) the counterparties involved and (iv) the Company’s overall litigation strategy. No non-GAAP financial measures for prior periods presented have been adjusted for litigation expenses related to FTI vs. Orszag, et al because the proceedings did not become extraordinary until the second quarter of 2026. Non-GAAP financial measures are not defined in the same manner by all companies and may not be comparable with other similarly titled measures of other companies. Non-GAAP financial measures should be considered in addition to, but not as a substitute for or superior to, the information contained in our Consolidated Statements of Comprehensive Income and Consolidated Statements of Cash Flows.
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36 Experts with Impact TM