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© 2025 ePlus inc. Confidential and Proprietary. November 6, 2025 ePlus inc. Investor Presentation
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© 2025 ePlus inc. Confidential and Proprietary. Safe Harbor Statement This investor presentation contains certain statements that are, or may be deemed to be, “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements in this investor presentation that are not historical facts may be deemed to be "forward-looking statements," and include the anticipated growth of our company. Forward-looking statements can be identified by such words and phrases as "believe(s)," "outlook," "looking ahead," "anticipate(s)," "expect(s)," "intend(s)," "estimate(s)," "may," "will," "should," "continue" and similar expressions, comparable terminology or the negative thereof. Actual and anticipated future results may vary materially due to certain risks and uncertainties, including, without limitation, financial losses resulting from national and international political instability fostering uncertainty and volatility in the global economy including changes in interest rates, tariffs, inflation, export requirements applicable to products we sell, sanctions and exposure to foreign currency losses; significant adverse changes in our relationship with one or more of our larger customer accounts or vendors, including decreased account profitability, reductions in contracted services, or a loss of such relationships; increases to our costs including wages and our ability to increase our prices to our customers as a result, or experience negative financial impacts due to the pricing arrangements we have with our customers; the loss of our key lenders or constricting credit availability as a result of changing interest rates or other economic conditions, which may result in adverse changes in our results of operations and financial position; a material decrease in the credit quality of our customer base, or a material increase in our credit losses, including by the federal government’s actual or attempted termination for convenience, other contract termination or non-performance; reliance on third parties to perform some of our service obligations to our customers, and the reliance on a small number of key vendors in our supply chain with whom we do not have long-term supply agreements, guaranteed price agreements, or assurance of stock availability; the possibility of a reduction of vendor incentives provided to us; our inability to identify acquisition candidates, perform sufficient due diligence prior to completing an acquisition, successfully integrate a completed acquisition, or identify an opportunity for or successfully completing a business disposition, may affect our earnings; our ability to remain secure during a cybersecurity attack or other information technology (“IT”) outage, including disruptions in our, our vendors or a third party’s IT systems and data and audio communication networks; our ability to secure our own and our customers’ electronic and other confidential information, while maintaining compliance with evolving data privacy and cybersecurity regulatory laws and regulations and appropriately providing required notice and disclosure of cybersecurity incidents when and if necessary; our dependence on key personnel to maintain certain customer relationships, and our ability to hire, train, and retain sufficient qualified personnel by recruiting and retaining highly skilled, competent personnel with needed vendor certifications; risks relating to artificial intelligence (“AI”), including the use or capabilities of AI and emerging laws, rules and regulations related to AI; our ability to manage a diverse product set of solutions, including AI products and services, in highly competitive markets with a number of key vendors; changes in the IT industry and/or rapid changes in product offerings, including the proliferation of the cloud, infrastructure as a service (“IaaS”), software as a service (“SaaS”), platform as a service (“PaaS”), and AI which may affect our financial results; our ability to increase our total number of customers and our ability to increase our total number of customers who use our managed services and professional services while we continuously enhance our managed services offerings to remain competitive in the marketplace; supply chain issues, including a shortage of IT component parts and products, may increase our costs or cause a delay in fulfilling customer orders, or increase our need for working capital, or delay completing professional services, or purchasing IT products or services needed to support our internal infrastructure or operations, resulting in an adverse impact on our financial results; ongoing remote work trends, and the increase in cybersecurity attacks that have occurred while employees work remotely and our ability to adequately train our personnel to prevent a cyber event; exposure to changes in, interpretations of, or enforcement trends in, and customer and vendor actions in anticipation of or response to, legislation and regulatory matters; our service agreements may require external audits and deficiencies in any such reports could negatively affect our client engagements, and our professional and liability insurance policies coverage may be insufficient to cover a claim; a natural disaster or other adverse event at one of our primary configuration centers, data centers, or a third-party provider or vendor location could negatively impact our business; failure to comply with public sector contracts, or related applicable laws or regulations; our ability to raise capital, maintain or increase as needed our lines of credit with vendors or our floor plan facility, or the effect of those changes on our common stock price; our ability to predictably meet expectations of the investor and analyst community, including relative to our financial performance guidance that we provide; our ability to implement comprehensive plans for the integration of sales forces, cost containment, asset rationalization, systems integration, and other key strategies following acquisitions; and our ability to protect our intellectual property rights and successfully defend any challenges to the validity of our patents or allegations that we are infringing upon any third-party patents, and the costs associated with those actions, and, when appropriate, the costs associated with licensing required technology; and other risks or uncertainties detailed in our Annual Report on Form 10-K for the fiscal year ended March 31, 2025, quarterly reports on Form 10-Q, and other reports filed with the Securities and Exchange Commission. The Company cannot predict with reasonable certainty and without unreasonable effort, the ultimate outcome of unusual gains and losses, the occurrence of matters creating GAAP tax impacts, fluctuations in interest expense or interest income and share-based compensation, and acquisition-related expenses. These items are uncertain, depend on various factors, and could be material to the Company’s results computed in accordance with GAAP. Accordingly, the Company is unable to provide a reconciliation of GAAP net earnings to adjusted EBITDA and adjusted EBITDA margin for the full year 2026 forecast. We wish to caution you that these factors could affect our financial performance and could cause actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in this investor presentation. All information set forth in this investor presentation is current as of the date on the cover of this presentation, and ePlus undertakes no duty or obligation to update this information either as a result of new information, future events or otherwise, except as required by applicable U.S. securities law. 2
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© 2025 ePlus inc. Confidential and Proprietary. Mark Marron Chief Executive Officer 3
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© 2025 ePlus inc. Confidential and Proprietary. By the Numbers 30+ Years as a leading, global technology integrator $2.01B FY25 net sales* 4,600+ customers 1,500+ OEM Vendor Partnerships 2,151 employees as of Mar 31, 2025 [1] $3.28B FY25 gross billings 5,500+ certifications and accreditations 11% Listed companies in business for 30+ years [1] Retroactively adjusted to reflect our total headcount for continuing operations. See slide 24 for further information. *Results are presented on a Pro Forma basis giving effect to the sale of our domestic financing business that was sold on June 30, 2025, which are presented as discontinued operations for the current period and all prior periods (and the prior period results have been recast accordingly). See appendix for further information on non-GAAP financial information and Pro Forma results. 4
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Key Five Year CAGRs Our growing portfolio of solutions and services has facilitated consistent top-and bottom-line growth, creating operating leverage for our business Fiscal Year 2021 – Fiscal Year 2025 Net sales* 7% Services revenue 19% Gross profit* 10% Diluted EPS from continuing operations* 12% *Results are presented on a Pro Forma basis giving effect to the sale of our domestic financing business that was sold on June 30, 2025, which are presented as discontinued operations for the current period and all prior periods (and the prior period results have been recast accordingly). See appendix for further information on non-GAAP financial information and Pro Forma results. 5
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© 2025 ePlus inc. Confidential and Proprietary. Experienced Leadership Team Elaine Marion Chief Financial Officer Joined ePlus in 1998 30+ Y ears of Experience Dan Farrell Senior Vice President, National Professional Services Joined ePlus in 2010 40+ Y ears of Experience Kley Parkhurst Senior Vice President, Corporate Development Joined ePlus in 1991 35+ Y ears of Experience Erica Stoecker General Counsel Joined ePlus in 2001 25+ Y ears of Experience Darren Raiguel Chief Operating Officer, President of ePlus Technology, inc. Joined ePlus in 1997 30+ Y ears of Experience Mark Marron Chief Executive Officer Joined ePlus in 2005 40+ Y ears of Experience Doug King Chief Information Officer Joined ePlus in 2018 25+ Y ears of Experience Ken Farber President, ePlus Software, LLC Joined ePlus in 2001 35+ Y ears of Experience Jenifer Pape Vice President, Human Resources Joined ePlus in 2022 25+ Y ears of Experience 6
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Growing Global Capabilities + 30+ locations serving customers around the world + Integration centers strategically placed in the U.S. + Resources and teams to implement globally and locally 7
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Comprehensive Set of Solutions & Services 8
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© 2025 ePlus inc. Confidential and Proprietary. Key Strategic Focus Areas 9 SERVICES PR OFE S SI ON A L | MA N A G E D | A DV I SOR Y & CO N SU L T IN G | ST RA T E G IC T E CH N OL OG Y S T A FF IN G | L I F EC Y CL E C X SOL U T I ON S | S OFT W A R E L I CEN S E O PT I M IZ A T IO N Cloud: Journey to Modernization Security: Compromise Nothing Artificial Intelligence: Ignite Modernize data center infrastructures, extend capabilities, accelerate migrations, and optimize cloud platforms to transform businesses. Go Beyond managing threats by building an infrastructure that embeds security into every crevice of a technological environment. Assess, enable, secure, implement and amplify the use of AI technologies to accelerate business outcomes.
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© 2025 ePlus inc. Confidential and Proprietary. Broad Portfolio of ePlus Services STRATEGIZE For more agility ARCHITECT For better outcomes ACCELERATE For faster ROI OPTIMIZE For stronger resiliency CLOUD | DATA CENTER | SECURITY | ARTIFICIAL INTELLIGENCE | NETWORKING | COLLABORATION | EMERGING PROFESSIONAL SERVICES MANAGED SERVICES ADVISORY & CONSULTING SERVICES STRATEGIC TECHNOLOGY RESOURCING LIFECYCLE CX SOLUTIONS SOFTWARE LICENSE OPTIMIZATION Our services are designed with CX in mind, offering options ranging from consultative to managed, that help customers realize the full value of their technology investments from design through implementation. 10
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© 2025 ePlus inc. Confidential and Proprietary. SERVICE ORIENTEDDISTRIBUTION FOCUSED 1 Based on approximate LTM GAAP gross margin. GROSS MARGIN 1 Distributors 7 – 13% GM VARs 18 – 22% GM IT Solutions 24 – 26% GM Services/Integrators 30 – 33% GM Vendors 21 – 74% GM Increasing customer value and vendor margins Image result for cisco logo Well Positioned within the IT Ecosystem Our range of complex solutions and services places us in high end of the IT market 11
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© 2025 ePlus inc. Confidential and Proprietary. Targeted M&A Strategy with Track Record of Success + January 2019 + Southern and central Virginia + Security managed services and consulting, helpdesk, staffing; new customers + August 2019 + Southern and Western Virginia + New customers, SLED focus, and managed services + December 2020 + Upstate New York and the Northeast + Collaboration, AI, cloud, audio visual, data center , staffing + July 2022 + Texas and the South Central region + Cybersecurity, consulting, cloud security + April 2023 (Network Solutions Group, a business unit of CCI) + National provider of networking services and solutions + Network design, engineering + January 2024 + Midwest and Mountain West + New customers, data center, cloud and services focus + September 2017 + Chicago and Indianapolis data centers + New geography and customers + August 2024 + Minneapolis and Midwest + Large enterprise customers, professional and managed services integration and deployment 12
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© 2025 ePlus inc. Confidential and Proprietary. Customer Experience Across Any Industry Percentages are based on net sales during the twelve months ended September 30, 2025. 24 % 9% TELECOM, ENTERTAINMENT & MEDIA HEALTHCARE GOVERNMENT & EDUCATION TECHNOLOGY OTHER FINANCIAL SERVICES 13 % 14% 27% 13% 13
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© 2025 ePlus inc. Confidential and Proprietary. ePlus in Action Children’s Hospital: Cloud Disaster Recovery Challenge: Current disaster recovery solution was unable to meet the Recovery Point Objectives (RPOs) and Recovery Time Objectives (RTOs) for critical patient care systems. Solution: ePlus Cloud Services Business Outcome: Disaster Recovery to AWS with a consumption- based cost model, lowered RPOs and RTOs to meet business requirements, and increased ability to recover from ransomware. Industrial Manufacturing: vCISO Healthcare: Storage as a Service Challenge: Digital pathology project scanning 1M+ physical images to enable real-time access and improved patient outcomes. Solution: ePlus Storage-as-a-Service (STaaS) Business Outcomes: Low upfront investment, transparent predictable cost model and financial-backed SLAs reduced risk around capacity management, availability and performance Financial Organization: DC Migration and Modernization C L O U D SECURITY SERVICES DATA CENTER • Challenge: Data center migration from traditional to COLO while modernizing and improving security at the edge. • Solution: Security, Check Point Maestro Firewalls and Infinity ELA • Business Outcomes: Accelerated the move to a COLO facility in a flexible and secure manner . Greater visibility on who and what is traversing the edge as well as locking down access more efficiently. Challenge: Significant security-related audit requirements arose without sufficient internal support resources to put policies or controls in place, remediate issues or maintain posture. Solution: ePlus vCISO Security Advisory Services Business Outcomes: Successfully demonstrated a maturing & scalable security posture. Remediated all defined vulnerabilities and established controls roadmap to enable continued diligence and ongoing security posture maturity. 14
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© 2025 ePlus inc. Confidential and Proprietary. Elaine Marion Chief Financial Officer Results of our domestic financing business that was sold on June 30, 2025, are presented as discontinued operations for the current period and all prior periods. See appendix for further information on non-GAAP financial information and Pro Forma results. 15
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© 2025 ePlus inc. Confidential and Proprietary. Strong Financial Results + Operations are conducted through three operating segments in which we sell information technology products, software and services. + The majority of our net sales are derived from our product segment, representing 80% of revenues in FY25. + From FY21 to FY25, net sales and gross billings have increased at a compound annual rate of 7% and 10%, respectively. FYE March 31 / Trailing twelve months ended June 30, unaudited *Results are presented on a Pro Forma basis giving effect to the sale of our domestic financing business that was sold on June 30, 2025, which are presented as discontinued operations for the current period and all prior periods (and the prior period results have been recast accordingly). See appendix for further information on non-GAAP financial information and Pro Forma results. 16 $2,016 $2,272 $2,177 $2,626 $2,010 $3,146 $1,509 $3,330 $1,734 $3,280 $2,067 $3,273 $2,227 $3,614 $0 $900 $1,800 $2,700 $3,600 $4,500 Net Sales * Gross Billings Pro Forma Net Sales* and Gross Billings ($mm) FY25FY21 FY22 FY23 FY24 TTM 2Q25 TTM 2Q26 Net Sales Growth = 8% Gross Billings Growth = 10% Net Sales CAGR = 7% Gross Billings CAGR = 10%
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© 2025 ePlus inc. Confidential and Proprietary. Strong Financial Results + Professional services include advanced professional services, staff augmentation, project management services, cloud consulting services and security services. + Managed services include advanced managed services, service desk, storage-as-a- service, cloud hosted services, cloud managed services and managed security services. + From FY21 to FY25, total service revenue has increased at a compound annual rate of 19% and grew from 13% of consolidated net sales in FY21 to 19% in FY25. + Gross profit from professional services and managed services increased at a compound annual rate of 13% and 24%, respectively. FYE March 31 / Trailing twelve months ended June 30, unaudited *Results are presented on a Pro Forma basis giving effect to the sale of our domestic financing business that was sold on June 30, 2025, which are presented as discontinued operations for the current period and all prior periods (and the prior period results hav e been recast accordingly). See appendix for further information on non-GAAP financial information and Pro Forma results. 17 $125 $147 $152 $155 $229 $180 $278 $77 $94 $113 $138 $171 $156 $181 13.4% 13.9% 12.8% 13.2% 19.4% 16.3% 20.6% 0.0% 7.0% 14.0% 21.0% 28.0% 35.0% $0 $80 $160 $240 $320 $400 FY21 FY22 FY23 FY24 FY25 TTM 2Q25 TTM 2Q26 Professional Services Managed Services Service as % of Consolidated Net Sales* Service Revenue ($mm) Service Revenue CAGR = 19% Service Revenue Growth = 36% $293 $400 $202 $241 $265 $336 $459 $55 $63 $62 $68 $91 $79 $107 $22 $28 $32 $43 $51 $48 $54 10.0% 25.0% 40.0% 55.0% 70.0% 85.0% $0 $20 $40 $60 $80 $100 FY21 FY22 FY23 FY24 FY25 TTM 2Q25 TTM 2Q26 Professional Services Gross Profit Managed Services Gross Profit Professional Services Margin Managed Services Margin Service Gross Profit ($mm) and Service Margin 44.1% 30.0%28.4% 29.9%28.5% 31.0% 30.8% 29.7% 43.2% 39.5%40.6% 43.8% 38.4% 44.1% Professional Services GP CAGR = 13% Managed Services GP CAGR = 24% Professional Services GP Growth = 36% Managed Services GP Growth = 12%
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© 2025 ePlus inc. Confidential and Proprietary. Strong Financial Results + Consolidated gross profit increased at a compounded annual rate of 10% from FY21 to FY25. + Consolidated gross margin has increased from 23% in FY21 to 26% in FY25, as services revenue continued to expand, and a larger portion of sales were recognized on a net basis. FYE March 31 / Trailing twelve months ended June 30, unaudited *Results are presented on a Pro Forma basis giving effect to the sale of our domestic financing business that was sold on June 30, 2025, which are presented as discontinued operations for the current period and all prior periods (and the prior period results have been recast accordingly). See appendix for further information on non-GAAP financial information and Pro Forma results. 18 $409 $474 $508 $515 $346 $572 $496 23.0% 23.6% 23.5% 23.4% 25.6% 24.0% 25.7% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% $0 $140 $280 $420 $560 $700 FY21 FY22 FY23 FY24 FY25 TTM 2Q25 TTM 2Q26 Gross Profit* Consolidated Gross Margin* Pro Forma Gross Profit* ($mm) and Pro Forma Gross Margin* Gross Profit CAGR* = 10% Gross Profit Growth* = 15%
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© 2025 ePlus inc. Confidential and Proprietary. 19 + From FY21 to FY25, net earnings and diluted EPS from continuing operations increased at a compounded annual rate of 12% as a result of focusing on gross profit growth and cost management. + Non-GAAP EPS from continuing operations increased at a compounded annual rate of 11% from FY21 to FY25. + Non-GAAP EPS excludes other income (expense), share based compensation, and acquisition and integration expenses, and the related tax effects. FYE March 31 / Trailing twelve months ended June 30, unaudited Strong Financial Results *Results are presented on a Pro Forma basis giving effect to the sale of our domestic financing business that was sold on June 30, 2025, which are presented as discontinued operations for the current period and all prior periods (and the prior period results have been recast accordingly). See appendix for further information on non-GAAP financial information and Pro Forma results. EPS and non-GAAP EPS are on a diluted basis and have been retroactively adjusted to reflect the two-for-one stock split on December 13, 2021. $52 $77 $97 $95 $80 $82 $101 $63 $89 $113 $112 $97 $98 $118 $0 $40 $80 $120 $160 $200 FY21 FY22 FY23 FY24 FY25 TTM 2Q25 TTM 2Q26 Net Earnings* Non-GAAP Net Earnings* Pro Forma Net Earnings* and Non-GAAP Net Earnings* from Continuing Operations Net Earnings CAGR* = 12% Non-GAAP Net Earnings CAGR* = 11% Net Earnings Growth* = 23% Non-GAAP Net Earnings Growth* = 20% $1.92 $2.85 $3.66 $3.56 $2.99 $3.07 $3.84 $2.34 $3.29 $4.27 $4.16 $3.63 $3.68 $4.46 $0.00 $1.50 $3.00 $4.50 $6.00 $7.50 FY21 FY22 FY23 FY24 FY25 TTM 2Q25 TTM 2Q26 Diluted EPS* Non-GAAP EPS* Pro Forma Diluted EPS* and Non-GAAP EPS* from Continuing Operations EPS CAGR* = 12% Non-GAAP EPS CAGR* = 11% EPS Growth* = 25% Non-GAAP EPS Growth* = 21%
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© 2025 ePlus inc. Confidential and Proprietary. 20 + Adjusted EBITDA represents net earnings from continuing operations before interest expense, depreciation and amortization, share based compensation, acquisition and integration expenses, provision for income taxes, and other income. + From FY21 to FY25, adjusted EBITDA increased at a compounded annual rate of 10%. + Adjusted EBITDA margin increased from 6% in FY21 to 7% in FY25. Strong Financial Results *Results are presented on a Pro Forma basis giving effect to the sale of our domestic financing business that was sold on June 30, 2025, which are presented as discontinued operations for the current period and all prior periods (and the prior period results have been recast accordingly). See appendix for further information on non-GAAP financial information and Pro Forma results. FYE March 31 / Trailing twelve months ended June 30, unaudited 6.3% 7.5% 8.1% 7.5% 7.0% 6.9% 7.7% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% $0 $50 $100 $150 $200 $250 FY21 FY22 FY23 FY24 FY25 TTM 2Q25 TTM 2Q26 Adj. EBITDA* Adj. EBITDA Margin* Pro Forma Adjusted EBITDA * ($mm) Adj. EBITDA CAGR* = 10% Adj. EBITDA Growth* = 19% $163 $141 $95 $129 $163 $143 $171
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© 2025 ePlus inc. Confidential and Proprietary. 21 + On June 30, 2025, the Company sold its domestic financing business for cash proceeds of $180.1 million, and recognized a post -closing receivable of $7.8 million and a contingent consideration asset of $13.5 million. + For the three months ended September 30, 2025, Discontinued operations earnings, net of tax was a loss of $(3.3) million down from $11.5 million in last year’s quarter. For the six months ended September 30, 2025, Discontinued operations earnings, net of tax was $7.3 million down from $14.7 million in last year’s six-month period. + For the three months ended, Diluted EPS from discontinued operations was $(0.13), compared with $0.43 in last year’s quarter . For the six months ended, Diluted EPS from discontinued operations was $0.28, compared with $0.55 in last year’s six - month period. Discontinued Operations
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© 2025 ePlus inc. Confidential and Proprietary. 22 Q2 FY26 Financial Results *Results are presented on a Pro Forma basis giving effect to the sale of our domestic financing business that was sold on June 30, 2025, which are presented as discontinued operations for the current period and all prior periods (and the prior period results have been recast accordingly). See appendix for further information on non-GAAP financial information and Pro Forma results. [1] Pro forma results are only applicable to prior year quarter. $0 $250 $500 $750 $1,000 $1,250 Net Sales [1] Gross Billings Net Sales Growth* = 23% Gross Billings Growth* = 27% Pro Forma Net Sales* and Gross Billings ($mm) $493.4 $608.8 2Q25* 2Q26 $1,022.7 $808.2 25.8% 26.6% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% $0 $50 $100 $150 $200 $250 2Q25 * 2Q26 Gross Profit [1] Gross Margin [1] Pro Forma Gross Profit* and Gross Margin ($mm) Gross Profit Growth* = 27% $127.3 $162.1 $19.8 $38.2 $25.2 $40.5 $0 $10 $20 $30 $40 $50 2Q25 * 2Q26 Net Earnings [1] Non-GAAP Net Earnings [1] Pro Forma Net Earnings* and Non-GAAP Net Earnings* from Continuing Operations ($mm) Net Earnings Growth* = 93% Non-GAAP Net Earnings Growth* = 61% $0.74 $1.45 $0.94 $1.53 $0.00 $0.40 $0.80 $1.20 $1.60 $2.00 2Q25 * 2Q26 Diluted EPS [1] Non-GAAP EPS [1] Pro Forma Diluted EPS* and Non-GAAP EPS* from Continuing Operations EPS Growth* = 96% Non-GAAP EPS Growth* = 63%
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© 2025 ePlus inc. Confidential and Proprietary. 23 Q2 YTD FY26 Financial Results *Results are presented on a Pro Forma basis giving effect to the sale of our domestic financing business that was sold on June 30, 2025, which are presented as discontinued operations for the current period and all prior periods (and the prior period results have been recast accordingly). See appendix for further information on non-GAAP financial information and Pro Forma results. [1] Pro forma results are only applicable to prior year quarter. $0 $600 $1,200 $1,800 $2,400 $3,000 $3,600 Net Sales [1] Gross Billings Net Sales Growth = 21% Gross Billings Growth = 20% Pro Forma Net Sales* and Gross Billings ($mm) $1,029.0 $1,246.1 $1,641.9 $1,975.4 2Q25 YTD 2Q26 YTD 24.7% 24.9% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% $0 $100 $200 $300 $400 $500 $600 2Q25 YTD 2Q26 YTD Gross Profit [1] Gross Margin [1] Pro Forma Gross Profit* and Gross Margin ($mm) Gross Profit Growth = 22% $254.2 $310.3 $44.0 $65.3 $52.5 $73.6 $0 $25 $50 $75 $100 $125 $150 2Q25 YTD 2Q26 YTD Net Earnings [1] Non-GAAP Net Earnings [1] Pro Forma Net Earnings* and Non-GAAP Net Earnings* from continuing operations * ($mm) Net Earnings Growth = 48% Non-GAAP Net Earnings Growth = 40% $1.64 $2.47 $1.96 $2.79 $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 2Q25 YTD 2Q26 YTD EPS [1] Non-GAAP EPS [1] Pro Froma Diluted EPS* and Non-GAAP EPS * from Continuing Operations EPS Growth = 51% Non-GAAP EPS Growth = 42%
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© 2025 ePlus inc. Confidential and Proprietary. 24 + Acquiring consultative sales professionals to bring successful business outcomes to our customers. + Focused on growing engineering talent in cloud, security, AI, and digital infrastructure. + Customer-facing personnel increased by 557 from FY21 to FY25, which represented 88% of the total increase in headcount. + Leveraging our operational infrastructure as we expand. Growing Customer Facing Personnel *Results are presented on a Pro Forma basis giving effect to the sale of our domestic financing business that was sold on June 30, 2025, which are presented as discontinued operations for all prior periods (and the prior period results have been recast accordingly). See appendix for further information on non-GAAP financial information and Pro Forma results. 571 697 705 662 1,093 1,073 275 355 354 7 6 6 0 500 1,000 1,500 2,000 2,500 March 31, 2021 March 31, 2025 September 30, 2025 Sales and Marketing Professional Services Administration Executive Management Pro Forma Employee Headcount Growth by Function* 1,515 2,151 81% 17% 83% 19% 2,138 17% 83%
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© 2025 ePlus inc. Confidential and Proprietary. 25 + $402 million in cash and equivalents + $500 million credit limit with Wells Fargo Commercial Distribution Finance, LLC (WFCDF) + ROIC 9.0% for the twelve months ended September 30, 20251 1 See details in Appendix – Return on Invested Capital * These results reflect our GAAP Balance Sheets which were presented in our Form 10-Q for the quarter ended June 30, 2025. Our GAAP Balance Sheet at March 31, 2025, included our discontinued operations. Strong Balance Sheet
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© 2025 ePlus inc. Confidential and Proprietary. + This guidance does not factor in recessionary conditions or other unexpected developments. Fiscal Year 2026 Guidance Updated November 6, 2025 + Net sales growth in the mid-teens from fiscal year 2025’s $2.01 billion from continuing operations*. + Gross profit growth in the mid-teens from fiscal year 2025’s $515.5 million from continuing operations*. + Adjusted EBITDA growth from fiscal year 2025’s $141 million from continuing operations* at approximately twice the rate of net sales growth for fiscal year 2026. *Results are presented on a Pro Forma basis giving effect to the sale of our domestic financing business that was sold on June 30, 2025, which are presented as discontinued operations for the current period and all prior periods (and the prior period results have been recast accordingly). See appendix for further information on non-GAAP financial information and Pro Forma results. 26
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© 2025 ePlus inc. Confidential and Proprietary. Q&A Mark Marron Chief Executive Officer Elaine Marion Chief Financial Officer 27
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© 2025 ePlus inc. Confidential and Proprietary. Appendix
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Important Note Regarding Pro Forma Results Previously, on June 30, 2025,ePlus inc. (the “Company”) filed a Current Report on Form 8-K (the “Transaction Form 8-K”), disclosing that the Company had completed the sale of 100% of the membership interests of Expo Holdings, LLC, a Delaware limited liability company and a wholly-owned subsidiary of the Company (“HoldCo”), thereby selling the Company’s domestic subsidiaries comprising the majority of the Company’s financing business segment, to Marlin Leasing Corporation, a Delaware corporation (“Buyer”), pursuant to that certain Membership Interest Purchase Agreement (the “Purchase Agreement”), dated June 20, 2025, by and among Buyer, the Company and HoldCo (the “Transaction”). On July 7, 2025, the Company amended the T ransaction Form 8-K to provide, as Exhibit 99.2 thereto, the pro forma financial information required by Item 9.01 of Form 8-K (the “Original Pro Forma Financial Statements”). Because the Company customarily provides investor presentations that show select financial information over five fiscal years, the Company provided a Current Report on Form 8-K on September 15, 2025, that furnished certain supplemental pro forma financial information as if the Transaction occurred on April 1, 2020 (the “Supplemental Pro Forma Financial Information” and such Form 8-K being the “Supplemental Pro Forma Form 8-K”). The Supplemental Pro Forma Financial Information was provided as a convenience to investors for information purposes only and reflects many, but not all, adjustments required for pro forma financial information prepared in accordance with Article 11 of Regulation S-X. The pro forma historical results for fiscal years 2023, 2024 and 2025 are presented in accordance with the Original Pro Forma Financial Statements, which provided unaudited pro forma statements of income that were prepared as if the T ransaction occurred on April 1, 2022, and an unaudited pro forma balance sheet that was prepared as if the Transaction occurred on March 31, 2025. Please refer to the Transaction Form 8-K and the Original Pro Forma Financial Statements for additional information. The pro forma historical results for fiscal years 2021 and 2022 are presented in accordance with the Supplemental Pro Forma Financial Information, which provided unaudited pro forma statements of income that were prepared as if the T ransaction occurred on April 1, 2020. Please refer to the Supplemental Pro Forma Form 8-K and the Supplemental Pro Forma Financial Information for additional information. Beginning with the Company’s Quarterly Report on Form 10-Q for the quarter ending June 30, 2025, the historical results of HoldCo were reflected in the Company’s consolidated financial statements as discontinued operations. 29
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Reconciliation of Non-GAAP Information We included reconciliations below for the following non-GAAP financial measures: (i) Adjusted EBITDA, (ii) Adjusted EBITDA Margin, (iii) non-GAAP Net Earnings, and (iv) non-GAAP Net Earnings per Common Share - Diluted. We define Adjusted EBITDA as net earnings from continuing operations calculated in accordance with US GAAP , adjusted for the following: interest expense, depreciation and amortization, share-based compensation, acquisition and integration expenses, provision for income taxes, and other income (expense). We define Adjusted EBITDA Margin as Adjusted EBITDA divided by net sales (calculated in accordance with US GAAP), multiplied by 100. Non-GAAP Net Earnings and non-GAAP Net Earnings per Common Share – Diluted are based on net earnings from continuing operations calculated in accordance with US GAAP , adjusted to exclude other income (expense), share based compensation, and acquisition related amortization and acquisition integration expenses, and the related tax effects. We use the above non-GAAP financial measures as supplemental measures of our performance to gain insight into our operating performance and performance trends. We believe that such non-GAAP financial measures provide management and investors a useful measure for period-to-period comparisons of our business and operating results by excluding items that management believes are not reflective of our underlying operating performance. Accordingly, we believe that such non-GAAP financial measures provide useful information to investors and others in understanding and evaluating our operating results. Our use of non-GAAP information as analytical tools has limitations and should not be considered in isolation or as substitutes for analysis of our financial results as reported under GAAP . In addition, other companies, including companies in our industry, might calculate adjusted EBITDA, adjusted EBITDA margin, non-GAAP net earnings, and non-GAAP net earnings per common share, or similarly titled measures differently, which may reduce their usefulness as comparative measures. Basis of Presentation The tables that follow present the non-GAAP financial measures discussed above. We present this non-GAAP information using financial information as originally reported by the Company in its historical financial statements, and on a pro forma basis for our continuing operations (giving effect to the Transaction as if it occurred as previously indicated) and consistent with the Original Pro Forma Financial Statements or the Supplemental Pro Forma Information, as applicable. Additionally , where a caption for a row includes the term “GAAP”, it means that the information presented in the “As Reported” column for that row was derived from the Company’s historical financial statements prepared and presented in accordance with US GAAP . 30
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© 2025 ePlus inc. Confidential and Proprietary. $ in thousands, except per share informationNon-GAAP Financial Information 31
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© 2025 ePlus inc. Confidential and Proprietary. $ in thousands, except per share informationNon-GAAP Financial Information 32
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© 2025 ePlus inc. Confidential and Proprietary. 33 $ in thousands Return on Invested Capital
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© 2025 ePlus inc. Confidential and Proprietary. Thank you! Customer First. Services Led. Results Driven. Investor Relations Kley Parkhurst, SVP (703) 984-8150 investors@eplus.com ePlus inc. 13595 Dulles Technology Drive Herndon, VA 20171-3413 (703) 984-8400 / eplus.com