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VERRA A MOBILITY ™ Safe . Smart . Connected . Earnings Overview Verra Mobility Q2 2026 Earnings Presentation For the Quarter Ended June 30 , 2026 VV VV A
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2 FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements which address our expected future business and financial performance, and may contain words such as “goal,” “target,” “future,” “estimate,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “project,” “may,” “should,” “will” or similar expressions. Forward-looking statements include statements regarding changes and trends in the market for our products and services, including expected operating results and metrics, such as revenue growth and expected margins; expansion plans and opportunities; expectations regarding the fluctuations in fleet volume under our arrangements with two of our significant Commercial Services customers; expectations relating to our selection by the City of Los Angeles to implement California’s largest speed safety program and the contract with the New York City Department of Transportation (“NYCDOT”); expectations regarding the prospect for long-term renewal with our other significant Commercial Services customer; our ability to improve operational efficiencies, generate cost savings and improve customer centricity; our ability to achieve expected benefits from transformation and strategic initiatives; full year guidance for 2026, including expected total revenue, Adjusted EBITDA, Adjusted EPS, and Free Cash Flow, and the underlying assumptions for the 2026 full-year guidance, including expected weighted average fully diluted share count, effective tax rate and cash taxes, expected depreciation and amortization expenses, expected interest expense, net and total net cash interest, expected change in working capital, expected capital expenditures, and expected operating expenditures; expectations relating to momentum across key growth areas and our pipeline; our ability to meet our long-term outlook; the expected benefits of our smart mobility platform, including margin expansion impact; and expectations concerning our share repurchase program. Forward-looking statements involve risks and uncertainties, and a number of factors could cause actual results to differ materially from those currently anticipated. These factors include, but are not limited to, the impact of negative industry and macroeconomic conditions, including inflation and higher interest rates, the impact of government actions and regulations, such as tariffs, trade protection measures, and military conflicts, on our customers or Verra Mobility; customer concentration in our Commercial Services and Government Solutions segments, including risks impacting these segments such as travel demand and legislation, and the risk of losing a customer; risks related to our contract with NYCDOT, which comprises a material portion of our revenue, including the timing of payments; risks associated with fluctuations in fleet volume under our arrangements with two of our significant Commercial Services customers; risks associated with the renewal of Commercial Services customer agreements or any future termination of any such contracts; risks related to the contractual renewal discussions with our third significant Commercial Services customer; risks and uncertainties related to our government contracts, including legislative changes, termination rights, delays in payments, audits, and investigations; decreases in the prevalence or political acceptance of, or an increase in governmental restrictions regarding, automated and other similar methods of photo enforcement, parking solutions, or the use of tolling; our ability to successfully implement our acquisition strategy or integrate acquisitions; failures in or breaches of our networks or systems, including as a result of cyber-attacks or other incidents; risks and uncertainties related to our international operations and our ability to develop and successfully market new products and technologies into new markets; our failure to acquire necessary intellectual property or adequately protect our intellectual property; our ability to manage our substantial level of indebtedness; our ability to maintain effective internal controls over financial reporting; risks related to our goodwill and intangible assets, which have been subject to impairment and may be subject to further impairment in the future; our ability to properly perform under our contracts and otherwise satisfy our customers; risks associated with the use of artificial intelligence (“AI”) and related tools and our ability to achieve expected benefits from AI; our ability to incorporate AI into our business and transform our data into valuable insights, deliver more intelligent software and hardware, improve our efficiency of our operations and create a new generation of AI-enabled transportation solutions that strengthens customer outcomes, improves roadway safety and increases the long-term value of our technology platform;; decreased interest in outsourcing from our customers; our ability to keep up with technological developments and changing customer preferences; our ability to compete in a highly competitive and rapidly evolving market; risks and uncertainties related to our share repurchase program; risks and uncertainties related to litigation, including pending securities litigation, and other disputes and regulatory investigations; our reliance on specialized third-party providers; and other risks and uncertainties indicated from time to time in documents we filed or will file with the Securities and Exchange Commission (the “SEC”). In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this presentation can or will be achieved. This presentation should be read in conjunction with the information included in our other press releases, reports, and other filings with the SEC. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our 2025 Annual Report on Form 10-K and first quarter 2026 Quarterly Report on Form 10-Q. These forward-looking statements speak only as of the date of this presentation and except to the extent required by applicable law, we do not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments, or otherwise. Understanding the information contained in these filings is important in order to fully understand our reported financial results and our business outlook for future periods. Use of Non-GAAP Financial Measures This presentation uses certain non-GAAP financial information, including earnings before interest, taxes, depreciation and amortization (“EBITDA”), adjusted EBITDA, adjusted EBITDA margin, Free Cash Flow, Free Cash Flow Conversion, Adjusted EPS, Net Debt and Net Leverage. Verra Mobility believes that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Verra Mobility’s financial condition and results of operations. These financial measures are not recognized measures under GAAP and they are not intended to be and should not be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted EPS, Free Cash Flow, Net Debt and Net Leverage are non-GAAP financial measures as defined by SEC rules. This non- GAAP financial information may be determined or calculated differently by other companies. A reconciliation of Verra Mobility’s non-GAAP financial information to GAAP financial information is provided in the Appendix hereto and in Verra Mobility’s Form 8-K, filed with the SEC, with the earnings presentation for the period indicated. Verra Mobility is not providing a quantitative reconciliation of Adjusted EBITDA, Adjusted EPS, and Free Cash Flow to the nearest GAAP metric in our 2026 financial guidance, in reliance on the “unreasonable efforts” exception for forward-looking non-GAAP measures set forth in SEC rules because certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated without unreasonable effort and expense.
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3 Verra Mobility Recent Achievements 1 Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EPS, Free Cash Flow, Free Cash Flow Conversion, Net Debt and Net Leverage are non-GAAP financial measures. For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measure, see the appendix. Page 14 reconciles Adjusted EBITDA; page 16 reconciles Adjusted Net Income and Adjusted EPS; page 17 reconciles Free Cash Flow and Free Cash Flow Conversion and page 18 reconciles net leverage. 2 Free Cash Flow represents Net Cash Provided by Operating Activities, less Capex. Free Cash Flow Conversion represents Free Cash Flow divided by Adjusted EBITDA Total Revenue $264 million; 12% YoY increase Adjusted EBITDA 1 $111 million; 5% YoY increase Adjusted EPS 1 $0.38; 12% YoY increase Free Cash Flow 1, 2 $33 million in Q226 Q2 Financial Highlights • New York City Red-Light camera installations drive revenue growth - Government Solutions: 17% YoY service revenue growth driven by NYC red-light camera installations and 8% growth outside of New York City - Commercial Services: 6% YoY revenue increase driven by RAC tolling and Fleet Management business - Parking Solutions: 1% YoY SaaS and Services revenue growth driven by increased SaaS revenue Building Momentum • Selected for Los Angeles’ speed enforcement program, which would make Verra Mobility the technology partner for all six California cities authorized under Assembly Bill 645 once the contract is finalized • Returned Commercial Services to growth in 2Q, with revenue up 6% YoY and segment profit margins expanding 100 basis points • Renewed Avis Budget Group for seven years and Hertz for five years, providing greater long-term customer visibility • Realigned the organization and completed key cost actions to accelerate transformation • Booked $25 million of incremental annual recurring revenue in Government Solutions in Q2, bringing trailing twelve-month bookings to about $74 million
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4 Adjusted EPS* Free Cash Flow ($M)*,1 Total Revenue ($M) $223 $247 $13 $17$236 $264 Q2 2025 Q2 2026 $0.34 $0.38 Q2 2025 Q2 2026 Top-line growth driven by NYC expansion & core market trends Consolidated – Q2 Results +12% $40 $33 Q2 2025 Q2 2026 -19% Service Product Adjusted EBITDA ($M)* $105 $111 Q2 2025 Q2 2026 Total +5% Total +12% Srvc +10% * Reconciliations of non-GAAP financial measures (Adjusted EBITDA, Adjusted EPS and Free Cash Flow) to the most directly comparable GAAP financial measures are contained in the Appendix. 1 Free Cash Flow represents Net Cash Provided by Operating Activities, less Capex.
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5 Strong revenue growth driven by RAC tolling & Fleet Management Commercial Services – Q2 Results Total Revenue & YoY Growth Segment Profit & YoY Growth $109 $115 Q2 2025 Q2 2026 Srvc Rev +6% $72 $77 Q2 2025 Q2 2026 Segment Profit +7% Q2 – Key Highlights • Second quarter Revenue increased 6% compared to Q2 2025 due to increases in RAC tolling and Fleet Management • RAC tolling revenue up 5% over Q2 2025 due to increased product adoption and tolling activity • Fleet management revenue increased 3% ($0.5 million) versus Q2 2025 due to increased tolling activity and enrolled vehicles, offsetting the prior period churn • Q2 Segment Profit margins increased 100 basis points compared to Q2 2025 due primarily to volume leverage and lower bad debt expense
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6 Revenue fueled by NYC expansion and core market acceleration Government Solutions – Q2 Results Total Revenue & YoY Growth Segment Profit & YoY Growth Q2 – Key Highlights • Service Revenue growth of 17% driven by installation services on new red-light cameras, net of NYC pricing change and 8% growth outside of New York City (new awards & expansion of existing programs) • Q2 Segment Profit margins declined due primarily to New York City pricing change $98 $115 $9 $13$107 $129 Q2 2025 Q2 2026 Product RevenueService Srvc Rev +17% Total Rev +20% $30 $31 Q2 2025 Q2 2026 Segment Profit +4%
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7 Total Revenue & YoY Change Segment Profit & YoY Change Q2 – Key Highlights • SaaS and Services revenue increased 1% compared to last year; comprised of SaaS revenue growth of 3% compared to the prior year and partially offset by a 5% decline in Subscription and Professional Services compared to the prior year • Q2 Segment Profit margins declined 465 basis points driven by product sales mix and the timing of operating expenses $16 $17 $3 $3 $20 $20 Q2 2025 Q2 2026 Product RevenueSaaS & Service Revenue $3 $2 Q2 2025 Q2 2026 Srvc Rev +1% Total Rev +1% Segment Profit -28% SaaS and Services Revenue delivered modest Q2 revenue growth Parking Solutions – Q2 Results
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8 Strong, Flexible Balance Sheet + Robust Cash Flow 2 0 2 1 I N V E S T O R D A Y – © B U I L D E R S F I R S T S O U R C E8 Capital Summary & Financial Highlights ($M) Net Leverage* Evolution ($M) * A reconciliation for Net Leverage to the most directly comparable GAAP financial measure is included in the Appendix. 1 Term Loan Debt and ABL Revolver were refinanced in October 2025; new Term Loan maturity is 2032; new Term Loan pricing is Term SOFR + 200 bps. Fixed Rate debt securities priced at 5.500% and due 2029. Available Credit assumes borrowing base supports full accordion capacity and is net of letters of credit. Consistent cash generation maintained consistent leverage levels through Q2 2026 No Debt Maturities until 20291 ($M) June 30, 2026 Cash & Cash Equivalents $50 Debt $1,043 Stockholders’ Equity $224 $182 $9 $8 $7 $7 $7 $357 $7 $7 $646 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 Available Credit (Revolving Credit Facility & accordion feature) 1 $221 Cash & Cash Equivalents $50 Total Available Liquidity $271 $893 $843 $972 $1,017 $993 2.2x 2.0x 2.3x 2.4x Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 2.5x
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9 Revising 2026 Financial Outlook Well positioned to deliver attractive returns for investors Expect Total Revenue decline of 2% at the mid-point of guidance CS impacted by TSA volume and RAC re-pricing GS driven by NYC expansion and expected low double-digit service revenue growth outside of NYC PS (T2) driven by expected growth in SaaS as well as Subscription and Professional Services 2026 Guidance In millions, except per share data Commentary Total Revenue $945 - $965 CS … HSD expected decline YoY GS … High-end of MSD growth expected YoY (GS Service Rev expected to grow HSD) PS (T2) … LSD to MSD expected growth YoY Adjusted EBITDA $360 - $370 Adjusted EBITDA margin expected to decline about 430 bps YoY due primarily to NYC M/WBE subcontractor costs, TSA and RAC re-pricing Adjusted EPS $1.11 - $1.17 Low teens expected decline YoY Free Cash Flow $105 - $115 FCF conversion of ~30% expected Terms that are used on this page are defined on pages 12-13 of this presentation
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10 2026 fully diluted share count expected to be approximately ~153 million shares (weighted average for the year) Effective tax rate expected to be 28.0% to 29.0% including State taxes; with approximately $35 million expected in 2026 total cash taxes paid 2026 depreciation and amortization expected to be approximately $120 million 2026 total interest expense expected to be about $62 million; ~$60 million in net cash interest paid 2026 change in working capital is expected to result in a use of cash of approximately $30 million primarily related to both our recent RAC contract renewals and the timing of expenditures and collections of our ongoing installation work in New York City 2026 capital expenditures expected to be approximately $135 million – primarily focused on investments for cameras installations and MOSAIC implementation in Government Solutions Additional 2026 Guidance Assumptions
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11 Appendix
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12 KEY DEFINITIONS EBITDA and Adjusted EBITDA We define "EBITDA" as net income adjusted to exclude interest expense, net, income taxes, depreciation and amortization. "Adj usted EBITDA" further excludes certain non-cash expenses and non-recurring items. Adjusted EBITDA Margin We define “Adjusted EBITDA Margin” as Adjusted EBITDA as a percentage of total revenue. Adjusted EPS We define “Adjusted EPS” as Adjusted Net Income divided by the diluted weighted average shares for the period. Adjusted Net Income We define “Adjusted Net Income” as net income adjusted to exclude amortization of intangibles and certain non -cash or non-recurring expenses such as change in fair value of private placement warrants, change in fair value of interest rate swap, loss on extinguishment of debt, among othe r items. Annual recurring revenue (ARR) Annual recurring revenue (ARR) is a key metric that enables measurement of progress in growing our recurring revenue business . ARR represents the annual contract value of all new customer contracts and expansion of programs for existing clients. “Full run -rate ARR” refers to twelve months of recurring service revenue generated upon a contract or program being implemented and operational. Change in working capital We define change in working capital as the change in operating assets and liabilities. Capital expenditures We define capital expenditures as the purchases of installation and service parts and property and equipment. Free Cash Flow We define "Free Cash Flow" as net cash flow provided by operating activities less capital expenditures (purchases of installa tion and service parts and property and equipment). Free Cash Flow Conversion We define “Free Cash Flow Conversion” as Free Cash Flow divided by Adjusted EBITDA.
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13 Net Debt We define “Net Debt” as total long-term debt (including current portion of long-term debt) excluding original issue discounts an d unamortized deferred financing costs, less cash and cash equivalents. Net Leverage We define “Net Leverage” as Net Debt divided by the trailing twelve months Adjusted EBITDA as of the current quarter- end. The trailing twelve months Adjusted EBITDA is the sum of the year-to-date Adjusted EBITDA reported in the current year and the applicable quarter -to-date Adjusted EBITDA amounts reported in the prior year period (for example, the trailing twelve months Adjusted EBITDA as of June 30, 2025 is the sum of the six months e nded June 30, 2025 and the quarters ending December 31, 2024 and September 30, 2024). Trailing Twelve Months Trailing Twelve Months or “TTM” refers to the trailing four quarters and is calculated by adding the sum of the current quart er’s and the prior three quarters’ financial metric being measured. TSA Volume TSA passenger volume represents the number of airline passengers passing through Transportation Security Administration check points. Use of Abbreviations Throughout this presentation, we use abbreviations including “LSD”, “MSD”, “HSD”, “LDD” and “M/WBE”. These abbreviations repr esent Low-Single digit revenue growth, Mid-Single digit revenue growth, High-Single digit revenue growth, Low-Double digit revenue growth and Minority and Women-Owned Business Enterprise. KEY DEFINITIONS
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14 Verra Mobility Quarterly Results Q1 2024 – Q2 2026 ($ in millions) Q1 2024 Q2 2024 Q3 2024 Q4 2024 Full Year 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Full Year 2025 Q1 2026 Q2 2026 Service revenue $202.7 $212.0 $217.3 $209.7 $841.7 $211.9 $223.5 $243.2 $239.8 $918.1 $213.4 $246.7 Product sales 7.0 10.4 8.3 11.8 37.5 11.4 12.5 18.7 18.3 $60.9 $10.2 $16.9 Total revenue $209.7 $222.4 $225.6 $221.5 $879.2 $223.3 $236.0 $261.9 $257.9 $979.1 $223.6 $263.6 Cost of service revenue, excluding depreciation and amortization 4.3 4.6 5.4 4.7 19.0 4.8 4.6 9.2 11.7 30.3 7.4 14.2 Cost of product sales 5.3 7.8 5.6 8.3 27.1 8.0 8.9 12.8 15.7 45.5 8.3 14.0 Operating expenses 70.6 74.9 76.0 74.4 295.9 73.7 81.3 88.1 90.1 333.3 86.0 90.6 Selling, general and administrative expenses 48.2 46.3 47.9 52.6 195.1 51.5 48.5 47.6 67.6 215.2 40.8 44.0 Depreciation, amort, impairment and (gain) loss on disposal of assets, net 27.0 27.5 26.7 124.9 206.1 27.8 29.5 29.3 29.8 116.3 29.3 133.6 Total costs and expenses $155.4 $161.3 $161.7 $264.9 $743.2 $165.9 $172.8 $187.1 $214.8 $740.7 $171.8 $296.4 Income (loss) from operations 54.4 $61.2 $63.9 ($43.4) $136.0 $57.4 $63.2 $74.8 $43.0 $238.4 $51.8 ($32.8) Interest expense, net 19.6 18.8 18.7 16.7 73.9 16.6 16.6 16.4 15.0 64.6 15.4 15.5 Gain on interest rate swap - .02 - - - - - - - - - - Change in fair value of private placement warrants - - - - - - - - - - - - Tax receivable agreement liability adjustment - - - (0.3) (0.3) - - - 0.7 0.7 - - Loss on interest rate swap (0.4) - 0.9 - 0.5 - - - - - - - Loss on extinguishment of debt 0.6 - 0.0 1.1 1.7 .03 .02 .02 1.3 1.3 - - Other income, net (4.5) (5.2) (4.3) (5.0) (19.0) (4.1) (6.0) (6.3) (6.8) (23.2) (4.1) (6.0) Total other expenses $15.4 $13.6 $15.4 12.6 56.9 12.6 10.6 10.1 10.1 43.4 11.3 9.4 Income (loss) before income taxes 39.0 47.6 48.5 (55.9) 79.1 44.8 52.6 64.7 32.9 195.0 40.5 (42.2) Income tax provision 9.8 13.4 13.8 10.7 47.7 12.5 14.0 17.8 14.0 58.3 13.7 6.0 Net (loss) income $29.1 $34.2 $34.7 ($66.7) $31.4 $32.3 $38.6 $46.8 $18.9 $136.6 $26.7 ($48.2) Bridge to adj. EBITDA Net (loss) income $29.1 $34.2 $34.7 ($66.7) 31.4 32.3 38.6 46.8 18.9 136.6 $26.7 (48.2) Interest expense, net 19.6 18.8 18.7 16.7 73.9 16.6 16.6 16.4 15.0 64.6 15.4 15.5 Income tax provision (benefit) 9.8 13.4 13.8 10.7 47.7 12.5 14.0 17.8 14.0 58.3 13.7 6.0 Depreciation and amortization 26.9 27.5 26.6 27.5 108.5 27.5 29.2 28.5 28.9 114.1 29.2 28.5 EBITDA $85.5 $93.9 $93.8 ($11.7) $261.5 $89.0 $98.3 $109.6 $76.8 $373.7 $85.1 $1.8 Transaction and other related 1.5 0.1 2.5 1.2 5.4 - 1.1 - 6.3 7.4 - - Transformation expense (0.0) 1.6 1.0 1.9 4.4 - (1.4) 0.3 10.3 9.1 (6.1) 3.2 Legal accrual/settlement - - - 8.3 8.3 - - (1.5) - (1.5) - 1.1 Loss on extinguishment of debt 0.6 - 0.0 1.1 1.7 .03 .02 .02 1.3 1.3 - - GW and Intangible Assets Impairment - - - 97.1 97.1 - - - - - - 104.4 Gain or Loss on interest rate swap & Other non-recurring expenses (0.4) (0.0) 0.9 - 0.5 - - - - - - (0.0) Tax receivable agreement liability adjustment - - - (0.3) (0.3) - - - 0.7 0.7 - Stock-based compensation 5.6 6.6 6.4 4.4 23.0 6.5 7.3 5.0 6.5 25.2 7.0 0.2 Adjusted EBITDA $92.8 $102.2 $104.7 $102.0 $401.6 $95.4 $105.3 $113.3 $101.8 $415.9 $86.0 $110.7 Adjusted EBITDA Margin % 44% 46% 46% 46% 46% 43% 45% 43% 39% 42% 38% 42% * Refer to the earnings release, dated August 5, 2026 for additional detail on the reconciliaiton
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15 Verra Mobility Quarterly Results Segment Results of Operations Commercial Services Government Solutions Parking Solutions ($ in millions) Q1 2024 Q2 2024 Q3 2024 Q4 2024 Full Year 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Full Year 2025 Q1 2026 Q2 2026 Total Revenue Commercial Services $95.9 $104.0 $109.1 $98.7 $407.7 $101.4 $109.0 $117.3 $108.1 $435.8 $97.8 $115.1 Segment Profit Commercial Services $60.8 $69.5 $72.9 $64.6 $267.8 $63.1 $72.0 $78.3 $69.1 $282.5 $61.8 $77.2 ($ in millions) Q1 2024 Q2 2024 Q3 2024 Q4 2024 Full Year 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Full Year 2025 Q1 2026 Q2 2026 Total Revenue Government Solutions $94.2 $97.7 $95.9 $103.2 $390.9 $101.8 $107.1 $122.6 $129.2 $460.7 $105.3 $128.5 Segment Profit Government Solutions $29.2 $29.9 $28.1 $34.6 $121.7 $29.4 $30.1 $31.3 $31.1 $121.9 $20.8 $31.2 ($ in millions) Q1 2024 Q2 2024 Q3 2024 Q4 2024 Full Year 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Full Year 2025 Q1 2026 Q2 2026 Total Revenue Parking Solutions $19.7 $20.7 $20.6 $19.7 $80.6 $20.0 $19.9 $22.1 $20.6 $82.6 $20.4 $20.0 Segment Profit Parking Solutions $2.8 $2.8 $3.7 $2.8 $12.2 $2.9 $3.2 $3.7 $1.6 $11.5 $3.4 $2.3
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16 Verra Mobility Adj. Net Income and Adjusted EPS Reconciliations (in $MM, except per share data) Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Net Income $38.6 $46.8 $18.9 $26.7 ($48.2) Amortization of intangibles 16.4 15.6 15.6 15.6 14.3 Transaction and other related expenses 1.1 - 6.3 - - Transformation expenses (1.4) 0.3 10.3 4.2 3.2 Legal accrual/settlement - (1.5) - (10.3) 1.1 Goodwill impairment - - - - 64.0 Impairment of intangible assets - - - - 40.4 Tax settlement payment related to a prior acquisition - - 0.7 - Tax credit on impairment - - - - (11.3) Tax receivable agreement imputed interest - - - - - Loss on extinguishment of debt - 0.0 1.3 - - Change in fair value of interest rate swap - - - - - Stock-based compensation 7.3 5.0 6.5 7.0 0.2 Total adjustments before income tax effect 23.4 19.4 40.7 16.5 112.0 Income tax effects on adjustments (6.8) (5.6) (11.2) (4.6) (5.3) Total adjustments after income tax effect 16.6 13.8 29.4 11.9 106.7 Adjusted Net Income $55.2 $60.6 $48.3 $38.6 58.5 Adjusted EPS $0.34 $0.37 $0.30 $0.25 $0.38 Diluted weighted average shares outstanding 161,543 161,861 159,713 153,689 153,154 Annual estimated effective income tax rate 29% 29% 29% 28% 28% * Refer to the earnings release, dated August 5, 2026 for additional detail on the reconciliaiton
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17 Verra Mobility Free Cash Flow Reconciliation, incl. % of Adj. EBITDA ($MM) 2022 2023 2024 2025 Q2 2026 TTM Net cash provided by operating activities $ 218 $206 $224 $256 $215 Purchases of installation and service parts and property and equipment (48) (57) (71) (119) (118) Free Cash Flow $ 170 $149 $153 $137 $97 Adjusted EBITDA 1 $ 339 $372 $402 $416 $412 Free Cash Flow Conversion %2 50% 40% 38% 33% 24% 1 See slide 14 for a reconciliation of Adjusted EBITDA to the most directly comparable GAAP measure. 2 Free Cash Flow Conversion is calculated as Free Cash Flow divided by Adjusted EBITDA
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18 Verra Mobility Net Debt and Net Leverage Reconciliation ($MM) Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 2021 Term Loan, due 2028 $691 $689 $687 $685 $684 Plus: Senior Notes, due 2029 $350 $350 $350 $350 $350 Plus: Credit Revolver - - - $26 - Plus: Sale-leaseback financing arrangement - - - $3 $9 Long-term Debt, excluding original issue discounts and unamortized deferred financing costs $1,041 $1,038 $1,037 $1,064 $1,043 Less: Cash and Cash Equivalents $148 $196 $65 $47 $50 Net Debt $893 $843 $972 $1,017 $993 Divided by: Trailing Twelve Months Adjusted EBITDA * $407 $416 $416 $406 $412 Net Leverage 2.2x 2.0x 2.3x 2.5x 2.4x * A reconciliation for the four quarters comprising Trailing Twelve Months Adjusted EBITDA is contained on slide 14 in the Appendix. Trailing Twelve Months or “TTM” refers to the trailing four quarters and is calculated by adding the sum of the current quarter’s and the prior three quarters’ financial metric being measured.
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