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WHO WE ARE November 2026 PJT Partners 1
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CONFIDENTIAL Forward Looking Statements This presentation contains 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. Forward-looking statements include certain information concerning future results of operations, business strategies, acquisitions, financing plans, competitive position, potential growth opportunities, potential operating performance improvements, and the effects of future legislation or regulations. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words “believe,” “expect,” “opportunity,” “plan,” “intend,” “anticipate,” “estimate,” “predict,” “potential,” “continue,” “may,” “might,” “should,” “could” or the negative of these terms or similar expressions. Notices and Disclaimers Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict, many of which are outside the Company’s control. The Company’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not place undue reliance upon any of these forward-looking statements. Important factors that could cause the Company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (a) changes in governmental regulations and policies; (b) cyber attacks, security vulnerabilities and internet disruptions, including breaches of data security and privacy leaks, data loss and business interruptions; (c) failures of the Company’s remote and on- premises computer or communication systems, including as a result of a catastrophic event; (d) the impact of catastrophic events, including business disruptions, pandemics, reductions in employment and an increase in business failures on (1) the U.S. and the global economy and (2) our employees and our ability to provide services to our clients and respond to their needs; (e) the failure of third-party service providers to perform their functions; (f) volatility in the political and economic environment, including but not limited to inflation, changes to global trade policies, elevated interest rates, potential government shutdowns, and geopolitical or military conflicts; and (g) significant technological disruption, including the rapid development and adoption of emerging technologies, such as artificial intelligence. Any of these factors, as well as such other factors discussed in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the United States Securities and Exchange Commission (“SEC”), as such factors may be updated from time to time in the Company’s periodic filings with the SEC, accessible on the SEC’s website at www.sec.gov, could cause the Company’s results to differ materially from those expressed in forward-looking statements. There may be other risks and uncertainties that the Company is unable to predict at this time or that are not currently expected to have a material adverse effect on its business. Any such risks could cause the Company’s results to differ materially from those expressed in forward-looking statements. Non-GAAP Financial Measures This presentation contains certain non-GAAP financial measures. A “non-GAAP financial measure” is defined as a numerical measure of a company’s financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”) in the statements of operations, financial condition or cash flows of the company. These measures should not be considered substitutes for, or superior to, financial measures prepared in accordance with GAAP. Management believes the following non-GAAP measures, when presented together with comparable GAAP measures, are useful to investors in understanding the Company’s operating results: Adjusted Pretax Income; Adjusted Net Income, If-Converted, in total and on a per-share basis (referred to as “Adjusted EPS”); Adjusted Compensation and Benefits Expense and Adjusted Non-Compensation Expense. These non-GAAP measures, presented and discussed in this presentation, remove the impact of: (a) acquisition- related compensation expense; (b) transaction-related intangible asset amortization; and (c) the net change to the amount PJT Partners has agreed to pay Blackstone Inc. (our “former Parent”) related to the net realized cash benefit from certain compensation-related tax deductions. Reconciliations of the non-GAAP measures to their most directly comparable GAAP measures and further detail regarding the adjustments are provided on page 32 of this presentation. For additional information about our non-GAAP financial measures, see our filings with the SEC. Disclaimers This document is “as is” and is based, in part, on information obtained from other sources. Our use of such information does not imply that we have independently verified or necessarily agree with any of such information and we have assumed and relied upon the accuracy and completeness of such information for purposes of this document. Neither we nor any of our affiliates or agents, make any representation or warranty, express or implied, in relation to the accuracy or completeness of the information contained in this document or any oral information provided in connection herewith, or any data it generates and expressly disclaim any and all liability (whether direct or indirect, in contract, tort or otherwise) in relation to any of such information or any errors or omissions therein. Any views or terms contained herein are preliminary and are based on financial, economic, market and other conditions prevailing as of the date of this document and are subject to change. We undertake no obligations or responsibility to update any of the information contained in this document. Past performance does not guarantee or predict future performance. This document does not constitute an offer to sell or the solicitation of an offer to buy any security, nor does it constitute an offer or commitment to lend, syndicate or arrange a financing, underwrite or purchase or act as an agent or advisor or in any other capacity with respect to any transaction, or commit capital, or to participate in any trading strategies and does not constitute legal, regulatory, accounting or tax advice to the recipient. This document does not constitute and should not be considered as any form of financial opinion or recommendation by us or any of our affiliates. This document is not a research report nor should it be construed as such. Presentation of Information All facts, metrics and other information provided herein are presented as of September 30, 2026, unless otherwise stated. Copyright © 2026, PJT Partners Inc. (and its affiliates, as applicable). 2 In this presentation, unless the context requires otherwise, the words “PJT Partners Inc.” refers to PJT Partners Inc., and “PJT Partners,” the “Company,” “we,” “us” and “our” refer to PJT Partners Inc., together with its consolidated subsidiaries, including PJT Partners Holdings LP and its operating subsidiaries.
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Our Firm Overview 3
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CONFIDENTIAL Power of The Platform Strategic Advisory Mergers & Acquisitions Capital Markets Advisory Complex Investor Matters Board Advisory Activism Defense Corporate Governance Advisory Geopolitical & Policy Advisory Restructuring & Special Situations Liability Management Bespoke Financing In-Court Advisory Tort Liability Resolutions Distressed M&A and Asset Sales Fund Advisory & Fund Capital Raising Private Capital Solutions Private Equity Real Estate Alternative Credit/Hedge Funds Direct/Co-investment Placement We are a premier, global, advisory-focused investment bank working as one integrated firm to deliver differentiated, holistic advice to our clients 4
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CONFIDENTIAL PJT Partners at a Glance Note: Figures as of September 30, 2026, unless otherwise indicated. (1) As of the Last Twelve Months (“LTM”) ended September 30, 2026. (2) Since October 1, 2015. $1.8bn+ Revenues1 2015 NYSE: PJT Partners listing 25+ Years Average Partner experience 440+ Clients1 60+ Countries where we advise clients2 140 Partners globally 1,300+ Firmwide headcount 17 Offices globally $6bn+ Market capitalization 5
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CONFIDENTIAL Our Global Office Presence Note: As of September 30, 2026. Americas EMEA APAC > New York > Boston > Chicago > Houston > Los Angeles > San Francisco > London > Frankfurt > Madrid > Hong Kong > Tokyo > Milan > Munich > Paris 6 > Stockholm > Dubai > Riyadh
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CONFIDENTIAL Unique Culture Our culture is defined by uncompromising character, deep capabilities, broad domain expertise and strong collaboration ensuring we are best placed to provide unique commercial advice Why Clients Choose Us Power of The Platform The breadth of our global capabilities enables us to deliver innovative and differentiated advice Advice is the Main Event We offer the qualities of a much larger organization combined with the energy of a smaller entrepreneurial firm where advice is the main event Every Client is Important Our reputation is built on our clients’ results. We remain steadfast in our commitment to delivering differentiated advice and differentiated outcomes Integrated Client Solutions We ensure ideas, expertise and perspective are shared seamlessly across the firm. Our clients gain access not just to individual advisors, but to an integrated team committed to their success Best-in-Class Talent Our 140 Partners, with an average of 25+ years of experience, bring together deep knowledge, industry insight and broad experience 7
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CONFIDENTIAL (1) Non-GAAP adjustments to 2015 GAAP Pretax Income are described in our Form 8-K published on 2/11/16, which can be found here. (2) Figures are shown ‘as adjusted’; see reconciliations on page 32. (3) Adjusted EPS shown from 2016, as FY 2015 did not have a published adjusted EPS figure. Non-GAAP adjustments to 2016 GAAP EPS are described in our Form 8 -K published on 2/9/17, which can be found here. What We're Building Partners Total Partner count Employees Firmwide headcount Clients Total number of clients 2015 3Q26 2015 3Q26 2015 LTM 3Q26 46 +204% +272% +113% 353 209 140 Revenues $ millions 2015 LTM 3Q26 +350% $406 $1,825 Adjusted EPS $ 2016 LTM 3Q26 +383% $1.55 $7.49 Adjusted Pretax Income $ millions 2015 LTM 3Q26 +826% $42 $3881,314 445 Talent / Relationships Financial Results 1 2 23 8
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CONFIDENTIAL Strong Future Growth > Collaborative culture drives better client solutions and contributes to sustainable growth > Significant market share growth opportunities Proven Track Record > Success in attracting best-in-class talent > Significant revenue and earnings growth since we became a public company Secular Tailwinds > Business disruption and dislocations increase the need for strategic advice > Increased demand for advisory-focused firms Disciplined Management > Focused expense management > Consistent approach to capital priorities Shareholder Alignment > Unwavering focus on the long term > ~40% employee ownership Resilient Franchise > Balanced business model allows for growth in most market environments > Breadth of capabilities Why PJT Why Now 9
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Our People and Culture 10
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CONFIDENTIAL OUR GLOBAL PARTNERS OUR FIRMWIDE HEADCOUNT OUR GROWING ROSTER OF STRATEGIC ADVISORY PARTNERS Premier Destination for Top Talent >2 years <2 years Strategic Advisory Partners’ time as Partner on the PJT platform We believe that recruiting and retaining the best people is essential to building an enduring franchise that will create sustainable long-term value for our shareholders 11 Note: Figures are as of respective year end and/or quarter end. 353 749 1,224 1,314 2015 2020 2025 3Q26 5 37 72 74 13 15 13 16 18 52 85 90 2015 2020 2025 3Q26 18 20 27 37 45 52 56 66 73 75 85 90 11 13 13 13 14 13 15 15 18 18 18 20 14 15 17 16 15 16 18 18 19 20 23 23 3 3 4 5 7 7 8 6 5 6 7 7 46 51 61 71 81 88 97 105 115 119 133 140 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 3Q26 Strategic Advisory Restructuring & Special Situations PJT Park Hill Corporate
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CONFIDENTIAL The Next Generation – Campus Recruiting Employer of Choice > Offer the best qualities of a much larger organization combined with the energy of a smaller, entrepreneurial firm > Hire individuals with differentiated expertise, who enhance our collective capabilities and strengthen our culture > Culture of continuous improvement and growth mindset > Foster an inclusive culture and environment where employees feel valued, respected and empowered > Commitment to mentorship, development and career growth What Our Employees Say > The outstanding people with strong intellectual curiosity, passion and empathy make this firm an incredible place to work > Having the “small firm feel” while still being on such a fast track of growth. In many ways, it’s the best of both worlds > I feel a strong sense of collaboration amongst team members, regardless of rank, a culture of kindness and treating others with respect, and a culture that fosters growth and learning (1) Reflects applicants to our 2026 global summer and off -cycle programs. (2) Within our 2026 global summer and off -cycle analyst and associate classes. Our Culture and Employer Value Proposition 20,000+ Applicants to 2026 programs1 – up from ~3,200 in 2016 75+ Schools represented in 20262 – up from ~25 in 2016 Doing the Right Thing Commitment to Excellence Culture of Collaboration Client Exposure 12
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CONFIDENTIAL Why We Are the Destination for Top Talent Big Firm Capabilities Small Firm Feel Global reach Collaboration & teamwork Brand recognition Complex transaction flow Cross-product capabilities Focus on talent development Concentration of top practitioners Partnership culture Entrepreneurial at all levels Opportunity for meaningful impact Advice is the main event Commitment to excellence 13
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CONFIDENTIAL PJT Partners Community Impact (1) Cumulative since 2020 through September 30, 2026. 590+ global organizations supported across our communities1 14
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Our Businesses 15
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CONFIDENTIAL Strategic Advisory Our Strategic Advisory team advises many of the world’s most consequential companies on the full spectrum of strategic issues M&A Advisory Capital Markets Advisory Shareholder Advisory Restructuring & Special Situations Fund Capital Raising Fund Advisory Board Advisory Geopolitical & Policy Advisory Activism Defense Mergers & Acquisitions GP Advisory Strategic Advisory 16
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CONFIDENTIAL Capital Markets Advisory We partner with companies to deliver bespoke, product-agnostic and differentiated capital raising solutions across the entire capital structure Debt Capital Markets Private Capital Markets Structured Products Equity Capital Markets Spin-Offs M&A Advisory Capital Markets Advisory Shareholder Advisory Restructuring & Special Situations Fund Capital Raising Fund Advisory Strategic Advisory SPACs 17
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CONFIDENTIAL Shareholder Advisory Note: Shareholder Advisory statistics are cumulative since 2013. Campaigns include activism, M&A, say-on-pay, shareholder proposals, and director withhold campaigns. Market Cap data reflects data for clients at the time of engagement with PJT. Our team brings decades of investor experience to deliver advice like no other 16,250+ Client engagements with 650+ Investors 300+ Global public company clients 60+ Fortune 100 clients $24tn+ Aggregate market cap of Shareholder Advisory clients 160+ Activism preparedness and defense mandates 475+ Complex proxy votes and campaigns Advised on: Complex & Contested Situations Develop strategies to proactively mitigate and navigate shareholder activism and other complex investor situations Governance Advisory Successfully build relationships and engage with voting teams at large institutional investors and proxy advisors Strategic Investor Relations Design strategies to deliver enhanced public market valuations and target the right shareholders M&A Advisory Capital Markets Advisory Shareholder Advisory Restructuring & Special Situations Fund Capital Raising Fund Advisory Strategic Advisory 18
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CONFIDENTIAL #1 Worldwide & U.S. Announced and Completed 1H26 restructurings1 Restructuring & Special Situations (1) Based on LSEG’s Refinitiv Restructuring League Tables for the period from 01/01/26 to 06/30/26. We are the go-to trusted advisor in situations of financial distress. Over 500 clients around the world have turned to PJT Partners for restructuring and special situations advice 2023, 2022, 2021 & 2020IFR’s Restructuring Advisor of the Year M&A Advisory Capital Markets Advisory Shareholder Advisory Restructuring & Special Situations Fund Capital Raising Fund Advisory Restructuring 19
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CONFIDENTIAL PJT Park Hill – Fund Capital Raising Note: Statistics are cumulative since 2005. Through PJT Park Hill, we have unparalleled experience in raising capital across various strategies and multiple geographies, allowing us to provide unique expertise across alternative asset classes Fund Capital Raising M&A Advisory Capital Markets Advisory Shareholder Advisory Restructuring & Special Situations Fund Capital Raising Fund Advisory Private Equity Real Estate Alternative Credit/ Hedge Funds Directs 550+ Primary funds represented 5,500+ Investor relationships $585bn+ Capital raised PJT Park Hill 20
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CONFIDENTIAL PJT Park Hill – Fund Advisory Note: Statistics are cumulative since 2010. (1) “LP” represents “Limited Partner”; “GP” represents “General Partner”. (2) Advised volume includes cumulative volumes at PJT as well as prior experience of current and former professionals. (3) GP Advisory includes traditional GP advisory services, structured products and other GP focused capital solutions. PJT Park Hill Private Capital Solutions provides customized advice to clients seeking to address asset, fund and portfolio liquidity considerations across a wide array of GP- and LP-led transactions Fund Advisory M&A Advisory Capital Markets Advisory Shareholder Advisory Restructuring & Special Situations Fund Capital Raising Fund Advisory PJT Park Hill $150bn+ LP portfolio sales $155bn+ GP-led secondary transactions LP Advisory Transaction Experience1,2 GP Advisory Transaction Experience1,2,3 21
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Our Financials and Capital Priorities 22
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CONFIDENTIAL Note: % growth figures are year-over-year. (1) Figures are shown ‘as adjusted’; see reconciliations on page 32. Recent Financials Revenues Pretax Income GAAP Diluted GAAP Adjusted¹ Adjusted¹ EPS 3Q26 $385mm (14%) $69mm (24%) $72mm (23%) $1.15 (22%) $1.41 (24%) $374mm +16% $388mm +15% $6.99 +8% $7.49 +18% $1,825mm +10% LTM 3Q26 23 9M26 $1,290mm +9% $251mm +14% $262mm +14% $5.02 +7% $4.92 +11%
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CONFIDENTIAL (1) Figures are shown ‘as adjusted’; see reconciliations on page 32. For reconciliation to GAAP EPS from 2016 through 2021 refer to the respective Form 8-Ks which can be found on the SEC Filings section of the Investor Relations website, here. Financial History ADJUSTED EPS1 $ REVENUES $mm 24 499 499 580 718 1,052 992 1,026 1,153 1,493 1,714 1,825 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM 3Q26 1.55 1.54 1.91 2.41 4.93 4.44 3.92 3.27 5.02 6.98 7.49 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM 3Q26
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CONFIDENTIAL Capital Priorities and Disciplined Financial Management Reward Principles > Significant stock-based component of compensation Capital Priorities > Invest in our business > Offset dilution > Maintain a dividend Operational Oversight > Disciplined expense management > Strong cash position Capital Return $2.2bn+ Cumulative since 2017 through open market repurchases, exchanges, net share settlements and dividends Balance Sheet $766mm Cash, Cash equivalents and Short-term investments and no funded debt Shareholder Alignment ~40% Employee ownership > Senior management awards tied to shareholder value creation 25
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CONFIDENTIAL HISTORICAL CAPITAL RETURN $mm Note: Includes open market repurchases, exchanges, net share settlements and dividends. Historical Capital Return 26 56 161 81 168 314 167 183 357 408 402 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM 3Q26
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CONFIDENTIAL Note: Share count in millions. (1) Assumes the conversion of all Partnership Units, including Partnership Units with a remaining service requirement, to Class A common stock, as well as all unvested RSUs converted under the treasury stock method to Class A common stock. (2) Assumes all Partnership Units and unvested RSUs have been converted to shares of the Company’s Class A common stock. Included in Unvested RSUs are Vested, Undelivered Shares. Share Count FULLY-DILUTED SHARES OUTSTANDING2WEIGHTED-AVERAGE SHARES OUTSTANDING – IF CONVERTED1 Class A Common Shares Vested Partnership Units Unvested Partnership Units Unvested RSUs 27 24.3 25.6 14.0 13.2 1.2 0.8 4.3 3.1 43.8 42.7 9/30/2025 9/30/2026 Three months ended 24.3 25.5 13.9 13.2 1.2 0.8 6.4 5.4 45.8 44.9 9/30/2025 9/30/2026 As of
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Our Corporate Sustainability 28
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CONFIDENTIAL Our Corporate Sustainability People Business Governance Community > Attract, develop and retain the best people > Foster a culture of integrity, excellence and collaboration throughout the firm > Build the world’s best advisory-focused investment bank through sustained, disciplined investment and a competitively advantaged culture > Enhance our capabilities, deepen our expertise and broaden our geographic footprint to best serve our clients > Promote a culture of appropriate risk management throughout the firm with the support of our Board of Directors > Invest in and support our communities 29
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Appendix 30
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CONFIDENTIAL Three Months Ended 9/30, Nine Months Ended 9/30, Last Twelve Months Ended 9/30, Twelve Months Ended 12/31, 2026 2025 2026 2025 2026 2025 2025 2024 2023 2022 Revenues $385.1 $447.1 $1,289.6 $1,178.5 $1,824.8 $1,655.8 $1,713.7 $1,493.2 $1,153.2 $1,025.5 Expenses Compensation and Benefits $258.4 $303.3 $864.2 $801.3 $1,220.9 $1,127.3 $1,158.0 $1,032.1 $805.4 $669.1 Non-Compensation Expense $57.9 $52.8 $174.1 $157.2 $229.7 $205.6 $212.8 $190.5 $170.2 $154.9 Total Expenses $316.3 $356.1 $1,038.3 $958.5 $1,450.6 $1,332.9 $1,370.8 $1,222.6 $975.6 $824.0 Income Before Provision (Benefit) for Taxes $68.8 $91.0 $251.3 $220.0 $374.2 $322.9 $342.9 $270.6 $177.6 $201.5 Provision (Benefit) for Taxes $12.8 $16.0 $24.7 $9.5 $48.4 $21.3 $33.2 $32.1 $31.9 $36.7 Net Income $56.0 $75.0 $226.6 $210.6 $325.7 $301.6 $309.7 $238.5 $145.7 $164.8 Net Income Attributable to Non-Controlling Interests $24.2 $35.1 $88.4 $83.8 $134.2 $123.5 $129.6 $104.1 $63.9 $74.2 Net Income Attributable to PJT Partners Inc. $31.8 $39.8 $138.2 $126.8 $191.5 $178.1 $180.1 $134.4 $81.8 $90.5 Net Income Per Share of Class A Common Stock — Basic $1.19 $1.55 $5.20 $4.93 $7.26 $6.95 $7.00 $5.28 $3.24 $3.61 Net Income Per Share of Class A Common Stock — Diluted $1.15 $1.47 $5.02 $4.70 $6.99 $6.50 $6.68 $4.92 $3.12 $3.51 Weighted-Average Shares of Class A Common Stock Outstanding — Basic 26.7 25.7 26.6 25.7 26.4 25.6 25.7 25.5 25.3 25.1 Weighted-Average Shares of Class A Common Stock Outstanding — Diluted 42.7 28.6 28.7 43.9 - - 28.6 44.1 41.9 26.6 GAAP Statements of Operations (1) (1)(1) (1) (1) (1) (1) (1) Amounts in millions, except per share data ( 1 ) (1) (1) Represents sum of prior four quarters reported GAAP Diluted EPS. 1 1 31
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CONFIDENTIAL Note: Respective non-GAAP adjustments are more fully described in the Company’s Earnings Releases on Form 8 -Ks. Footnotes 1 through 4 are defined on page 33 under “Notes to Financials”. Summary of GAAP to Adjusted Financial Information Amounts in millions, except per share data Three Months Ended 9/30, Nine Months Ended 9/30, Last Twelve Months Ended 9/30, Twelve Months Ended 12/31, 2026 2025 2026 2025 2026 2025 2025 2024 2023 2022 Revenues $385.1 $447.1 $1,289.6 $1,178.5 $1,824.8 $1,655.8 $1,713.7 $1,493.2 $1,153.2 $1,025.5 Compensation and Benefits Expense GAAP Compensation and Benefits Expense $258.4 $303.3 $864.2 $801.3 $1,220.9 $1,127.3 $1,158.0 $1,032.1 $805.4 $669.1 Adjustments: Acquisition-Related Compensation Expense1 ($2.3) ($1.6) ($6.7) ($5.8) ($8.8) ($7.9) ($8.0) ($2.1) - ($11.8) Adjusted Compensation and Benefits Expense $256.1 $301.7 $857.6 $795.5 $1,212.1 $1,119.4 $1,150.0 $1,030.0 $805.4 $657.4 Non-Compensation Expense GAAP Non-Compensation Expense $57.9 $52.8 $174.1 $157.2 $229.7 $205.6 $212.8 $190.5 $170.2 $154.9 Adjustments: Amortization of Intangible Assets2 ($1.3) ($1.4) ($3.8) ($4.3) ($5.1) ($5.7) ($5.6) ($5.1) ($4.9) ($6.5) Spin-Off-Related Payable3 ($0.0) ($0.0) ($0.1) ($0.1) ($0.4) ($0.4) ($0.3) ($0.5) ($0.1) ($0.8) Adjusted Non-Compensation Expense $56.7 $51.4 $170.2 $152.8 $224.3 $199.4 $206.9 $184.9 $165.1 $147.6 Pretax Income GAAP Pretax Income $68.8 $91.0 $251.3 $220.0 $374.2 $322.9 $342.9 $270.6 $177.6 $201.5 Adjustments: Acquisition-Related Compensation Expense1 $2.3 $1.6 $6.7 $5.8 $8.8 $7.9 $8.0 $2.1 - $11.8 Amortization of Intangible Assets2 $1.3 $1.4 $3.8 $4.3 $5.1 $5.7 $5.6 $5.1 $4.9 $6.5 Spin-Off-Related Payable3 $0.0 $0.0 $0.1 $0.1 $0.4 $0.4 $0.3 $0.5 $0.1 $0.8 Adjusted Pretax Income $72.4 $94.0 $261.8 $230.2 $388.4 $337.0 $356.8 $278.3 $182.7 $220.5 Adjusted If-Converted Taxes4 $12.2 $13.2 $51.1 $35.7 $65.8 $56.9 $50.4 $57.2 $46.3 $57.3 Adjusted Net Income, If-Converted $60.1 $80.8 $210.8 $194.5 $322.6 $280.1 $306.3 $221.1 $136.4 $163.3 Adjusted Net Income, If-Converted Per Share $1.41 $1.85 $4.92 $4.43 $7.49 $6.34 $6.98 $5.02 $3.27 $3.92 Weighted-Average Shares Outstanding, If-Converted 42.7 43.8 42.9 43.9 43.1 44.2 43.9 44.1 41.7 41.7 32
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CONFIDENTIAL 1. This adjustment adds back to GAAP Pretax Income acquisition-related compensation expense for equity based and cash awards granted in connection with the acquisition of CamberView on October 1, 2018 and the acquisition of deNovo Partners on October 1, 2024. 2. This adjustment adds back to GAAP Pretax Income amounts for the amortization of intangible assets that are associated with our former Parent’s IPO, the acquisition of PJT Capital LP on October 1, 2015, the acquisition of CamberView on October 1, 2018, and the acquisition of deNovo Partners on October 1, 2024. 3. This adjustment adds back to GAAP Pretax Income the net change to the amount the Company has agreed to pay its former Parent related to the net realized cash benefit from certain compensation-related tax deductions. 4. Represents taxes on Adjusted Pretax Income, assuming all Partnership Units (excluding the unvested Partnership Units in prior year periods that had yet to satisfy market conditions) have been exchanged for shares of the Company’s Class A common stock, resulting in all of the Company’s income becoming subject to corporate-level tax, considering both current and deferred income tax effects. This tax rate excludes a number of adjustments, including, but not limited to, the tax benefits of acquisition-related compensation expense and amortization expense. Amounts presented in tables above may not add or recalculate due to rounding. Notes to Financials 33