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Barclays 43rd Annual Industrial Select ConferenceRollins, Inc.February 18, 2026© 2026 Rollins, Inc. All rights reserved.1
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2 Cautionary Statement Regarding Forward-Looking StatementsThis presentation as well as other written or oral statements by the Company may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. We havebased these forward-looking statements on our current opinions, expectations, intentions, beliefs, plans, objectives, assumptions and projections about future events and financial trends affectingthe operating results and financial condition of our business. Although we believe that these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize theseplans, intentions, or expectations. Generally, statements that do not relate to historical facts, including statements concerning possible or assumed future actions, business strategies, events orresults of operations, are forward-looking statements. The words “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “should,” “will,”“would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.Forward-looking statements in this presentation include, but are not limited to, statements regarding: expectations with respect to our financial and business performance; a balanced capitalallocation strategy; our recession-resilient business model yields consistently strong financial performance; underlying markets remain healthy and customer retention rates are strong; focus onmargins as well as pricing and productivity; healthy balance sheet provides flexibility and positions us well to execute on capital allocation priorities; “sticky” multi-dimensional, multi-yearrelationships with customers; high degree of recurring and ancillary revenue provides stability in growth and earnings profile; expectations related to acquisitions; our expected growth; and healthydividend.These forward-looking statements are based on information available as of the date of this presentation, and current expectations, forecasts, and assumptions, and involve a number of judgments,risks and uncertainties. Important factors could cause actual results to differ materially from those indicated or implied by forward-looking statements including, but not limited to, those set forth inthe sections entitled “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and may also be described from time to time in our future reports filed with theSEC.Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-lookingstatements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required by law. © 2026 Rollins, Inc. All rights reserved.
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3 Reconciliation of GAAP and Non-GAAP Financial MeasuresA non-GAAP financial measure is a numerical measure of financial performance, financial position, or cash flows that either 1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are includedin the most directly comparable measure calculated and presented in accordance with GAAP in the statement of income, statement of financial position or statement of cash flows, or 2) includes amounts, or is subject to adjustmentsthat have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented.These measures should not be considered in isolation or as a substitute for revenues, net income, earnings per share or other performance measures prepared in accordance with GAAP. Management believes all of these non-GAAPfinancial measures are useful to provide investors with information about current trends in, and period-over-period comparisons of, the Company's results of operations. An analysis of any non-GAAP financial measure should be usedin conjunction with results presented in accordance with GAAP.The Company has used the following non-GAAP financial measures in this earnings presentation:Organic revenuesOrganic revenues are calculated as revenues less the revenues from acquisitions completed within the prior 12 months and excluding the revenues from divested businesses. Acquisition revenues are based on the trailing 12-monthrevenue of our acquired entities. Management uses organic revenues, and organic revenues by type to compare revenues over various periods excluding the impact of acquisitions and divestitures.Adjusted operating income and adjusted operating marginAdjusted operating income and adjusted operating margin are calculated by adding back to operating income those expenses associated with the amortization of intangible assets and adjustments to the fair value of contingentconsideration resulting from the acquisitions of Fox Pest Control and Saela Pest Control. Adjusted operating margin is calculated as adjusted operating income divided by revenues. Management uses adjusted operating income andadjusted operating margin as measures of operating performance because these measures allow the Company to compare performance consistently over various periods.Adjusted net income and adjusted EPSAdjusted net income and adjusted EPS are calculated by adding back to the GAAP measures amortization of intangible assets and adjustments to the fair value of contingent consideration resulting from the acquisitions of Fox PestControl and Saela Pest Control, excluding gains and losses on the sale of non-operational assets and gains on the sale of businesses, and by further subtracting the tax impact of those expenses, gains, or losses. Management usesadjusted net income and adjusted EPS as measures of operating performance because these measures allow the Company to compare performance consistently over various periods.EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, incremental EBITDA margin and adjusted incremental EBITDA marginEBITDA is calculated by adding back to net income depreciation and amortization, interest expense, net, and provision for income taxes. EBITDA margin is calculated as EBITDA divided by revenues. Adjusted EBITDA and adjustedEBITDA margin are calculated by further adding back those expenses associated with the adjustments to the fair value of contingent consideration resulting from the acquisitions of Fox Pest Control and Saela Pest Control, andexcluding gains and losses on the sale of non-operational assets and gains on the sale of businesses. Management uses EBITDA, EBITDA margin, adjusted EBITDA and adjusted EBITDA margin as measures of operating performancebecause these measures allow the Company to compare performance consistently over various periods. Incremental EBITDA margin is calculated as the change in EBITDA divided by the change in revenue. Management usesincremental EBITDA margin as a measure of operating performance because this measure allows the Company to compare performance consistently over various periods. Adjusted incremental EBITDA margin is calculated as thechange in adjusted EBITDA divided by the change in revenue. Management uses adjusted incremental EBITDA margin as a measure of operating performance because this measure allows the Company to compare performanceconsistently over various periods.Free cash flow, free cash flow conversion, adjusted free cash flow, and adjusted free cash flow conversionFree cash flow is calculated by subtracting capital expenditures from cash provided by operating activities. Management uses free cash flow to demonstrate the Company’s ability to maintain its asset base and generate future cashflows from operations. Free cash flow conversion is calculated as free cash flow divided by net income. Adjusted free cash flow is calculated by adding back to cash provided by operating activities the impact of certain delayed incometax payments. Adjusted free cash flow conversion is calculated as adjusted free cash flow divided by net income.Management uses free cash flow conversion and adjusted free cash flow conversion to demonstrate how much net income is converted into cash. Management believes that free cash flow and adjusted free cash flow are importantfinancial measures for use in evaluating the Company’s liquidity. Free cash flow and adjusted free cash flow should be considered in addition to, rather than as a substitute for, net cash provided by operating activities as a measure ofour liquidity. Additionally, the Company’s definition of free cash flow and adjusted free cash flow is limited, in that it does not represent residual cash flows available for discretionary expenditures, due to the fact that the measuredoes not deduct the payments required for debt service and other contractual obligations or payments made for business acquisitions. Therefore, management believes it is important to view free cash flow and adjusted free cash flowas measures that provide supplemental information to our consolidated statements of cash flows. Adjusted sales, general, and administrative ("SG&A")Adjusted SG&A is calculated by removing the adjustments to the fair value of contingent consideration resulting from the acquisitions of Fox Pest Control and Saela Pest Control. Management uses adjusted SG&A to compare SG&Aexpenses consistently over various periods.Leverage ratioLeverage ratio, a financial valuation measure, is calculated by dividing adjusted net debt by adjusted EBITDAR. Adjusted net debt is calculated by adding short-term debt and operating lease liabilities to total long-term debt less a cashadjustment of 90% of total consolidated cash. Adjusted EBITDAR is calculated by adding back to net income depreciation and amortization, interest expense, net, provision for income taxes, operating lease cost, and stock-basedcompensation expense. Management uses leverage ratio as an assessment of overall liquidity, financial flexibility, and leverage.© 2026 Rollins, Inc. All rights reserved.
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Delivered Solid Revenue and Earnings in 2025 2025 Results 4 Full YearRevenue$3.8BAdjusted EPS1$1.12up11.0%up13.1%Free Cash Flow1$650.0Mup12.1%OtherFY 2025 Highlights•Double-digit growth across all major service lines•Organic growth of6.9%, acquisitions drove remaining 4.1%of growth.•One-time business was a drag on growth in the fourth quarter. Organic recurring & ancillary service revenue growth was above 7.0%for the year•Adjusted operating income margin1of 20.0% saw +10 bpsof expansion.•Executed balanced capital allocation program, deploying over $880Mof capital. •Welcomed 26new businesses to Rollins portfolio, including SaelaFull year comparisons are against FY 2024 unless otherwise noted.1 These amounts are non-GAAP numbers (see Appendix).© 2026 Rollins, Inc. All rights reserved.
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Long-Term Compounder © 2026 Rollins, Inc. All rights reserved.5 Operating Cash FlowAverage Annual TSRAdj. EBITDA 1+7%+14% +18% +19%RevenueLong-Term(2000-2025) CAGR)1 These amounts are Non-GAAP numbers (See Appendix).
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Unabated Long-Term Financial Performance 6 24 Years of Consecutive GrowthHigh Recurring Revenue 90+% Domestic RevenueFinancial Consistency Across Cycles Recession-Resilient Business Model Yields Consistently Strong Financial Performance1 These amounts are Non-GAAP numbers (See Appendix). © 2026 Rollins, Inc. All rights reserved.
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Ancillary Revenue•Prevention of pest issue or remediation to include wildlife exclusion, crawlspace encapsulation and moisture remediation, insulation •Opportunity to increase depth of relationship with existing customer~10% of revenueMid-high teens growth Recurring Revenue•Ongoing pest prevention and treatment under a scheduled service agreement•Typically monthly, bi-monthly, or quarterly visits•Relationships often extend over multi-year period~75% of revenueHigh-single digit growth One-Time Revenue•Single-service treatment for a specific pest issue such as bed bugs, wildlife removal, termite treatment, and infestations~15% of revenueFlat-2% growth Types of Revenue 7High Degree of Recurring and Ancillary Revenue Provides Stability in Growth and Earnings Profile More transactional customer relationship“Sticky” multi-dimensional, multi-year relationships with customers © 2026 Rollins, Inc. All rights reserved.
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Ancillary Opportunity – “9 Shots on Goal” © 2026 Rollins, Inc. All rights reserved.81 These amounts are non-GAAP numbers (See Appendix).
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Last 3 Years 2026E Medium-Term OutlookGrowth Algorithm © 2026 Rollins, Inc. All rights reserved.9 23%25-30%~30-35%12%~7% to 8% Organic ~2% to 3% M&A Above-Market Organic Growth + M&A125%>100%>100%Revenue GrowthAdj. Incremental EBITDA Margin1FCF Conversion11 These amounts are non-GAAP numbers (See Appendix).
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Sustainable GrowthSolid revenue growth of 11.0% for FY 2025 with double-digit growth across all service linesOrganic growth of 6.9%, acquisitions drove remaining 4.1% of growth.One-time business was a drag on growth in the fourth quarter. Organic growth of recurring & ancillary services was above 7% for the yearUnderlying markets remain healthy and customer retention rates are strong Key Takeaways © 2026 Rollins, Inc. All rights reserved.10 Better Before BiggerMade investments throughout our business to support our teammates and enhance our customer experience. Rolled out The Rollins Way; making investments to support the growth of our company and establish consistent leadership behaviors across the enterpriseWe have made encouraging progress in improving retention of our newer teammates, specifically those who are with us for six months or less Margins Remain a FocusContinue to focus on pricing and productivity People costs pressured margins as we ended the year with a double-digit increase in teammates versus last year.We have been focused on continuing to hire and train in order to support demand so that we can hit the ground running during our peak season beginning later in Q1Balance Sheet Provides FlexibilityHealthy balance sheet positions us well to execute on capital allocation priorities FY 2025 free cash flow1grew 12%; excluding out-of-period tax payment, free cash flow1 would have grown 20%; FY 2025 free cash flow1conversion of 123%Dividend has grown by over 80% since 2022, while remaining ~50% of free cash flow1Our leverage ratio1stands at 0.9x 1 These amounts are non-GAAP numbers (See Appendix).
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© 2026 Rollins, Inc. All rights reserved.11
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© 2026 Rollins, Inc. All rights reserved.12 Reconciliation of GAAP and Non-GAAP Financial Measures (1) Consists of expenses associated withthe amortization of certain intangibleassets and adjustments to the fair valueof contingent consideration resulting fromthe acquisitions of Fox Pest Control andSaela Pest Control. While we exclude suchexpenses in this non-GAAP measure, suchexpenses are expected to recur, therevenue from the acquired company isreflected in this non-GAAP measure andthe acquired assets contribute to revenuegeneration.(2) Consists of the gain or loss on the saleof non-operational assets.(3) The tax effect of the adjustments iscalculated using the applicable statutorytax rates for the respective periods.(4) In some cases, the sum of theindividual EPS amounts may not equaltotal non-GAAP EPS calculations due torounding.
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© 2026 Rollins, Inc. All rights reserved.13 Reconciliation of GAAP and Non-GAAP Financial Measures (1) Consists of expenses associated with theamortization of certain intangible assets andadjustments to the fair value of contingentconsideration resulting from the acquisitions ofFox Pest Control and Saela Pest Control. Whilewe exclude such expenses in this non-GAAPmeasure, such expenses are expected to recur,the revenue from the acquired company isreflected in this non-GAAP measure and theacquired assets contribute to revenuegeneration.(2) Consists of the gain or loss on the sale of non-operational assets.
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© 2026 Rollins, Inc. All rights reserved.14 Reconciliation of GAAP and Non-GAAP Financial Measures(1) The U.S. Internal Revenue Service provided disaster relief to all State of Georgia taxpayers due to the impact of Hurricane Helene. Therefore, we did not make an estimated payment for U.S. federalincome tax purposes in the fourth quarter of 2024. That tax payment was made during the second quarter of 2025.
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© 2026 Rollins, Inc. All rights reserved.15 Reconciliation of GAAP and Non-GAAP Financial Measures
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© 2026 Rollins, Inc. All rights reserved.16 Reconciliation of GAAP and Non-GAAP Financial Measures (1)As of December 31, 2025, the Company hadoutstanding borrowings of $114.4 million under ourcommercial paper program and $9.3 million in bankoverdrafts. The Company's short-term borrowings arepresented under the short-term debt caption of ourconsolidated statements of financial position, net ofunamortized discounts.(2) As of December 31, 2025, the Company had outstanding borrowings of $500.0 million from the issuance of our 2035 Senior Notes and no outstanding borrowings under the Revolving Credit Facility. These borrowings are presented under the long-term debt caption of our consolidated statements of financial position, net of a $7.1 million unamortized discount and $6.7 million in unamortized debt issuance costs as of December 31, 2025. As of December 31, 2024, the Company had outstanding borrowings of $397.0 million, under the Revolving Credit Facility. Borrowings under the Revolving Credit Facility are presented under the long-term debt caption of our consolidated statements of financial position, net of $1.7 million in unamortized debt issuance costs as of December 31, 2024.(3) Operating lease liabilities are presented under the operating lease liabilities - current and operating lease liabilities, less current portion captions of our consolidated statements of financial position.(4) Represents 90% of cash and cash equivalents per our consolidated statements of financial position as of both periods presented.(5) Operating lease cost excludes short-term lease cost associated with leases that have a duration of 12 months or less.
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© 2026 Rollins, Inc. All rights reserved.17 Reconciliation of GAAP and Non-GAAP Financial Measures (1)Consists of expenses associated with the amortization of certain intangible assets and adjustments to the fair value of contingent consideration resulting from the acquisitions of Fox Pest Control and Saela PestControl. While we exclude such expenses in this non-GAAP measure, such expenses are expected to recur, the revenue from the acquired company is reflected in this non-GAAP measure and the acquired assetscontribute to revenue generation.