Slide 1: Second Quarter 2025 Earnings
Second Quarter 2025 Earnings Chris Cartwright, President and CEO Todd Cello, CFO July 24, 2025
Slide 2: Forward-Looking Statements Non-GAAP Financial Information
Forward-Looking Statements Non-GAAP Financial Information This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of This investor presentation includes certain non-GAAP 1995. These statements are based on the current beliefs and expec
Slide 3: Second quarter highlights and market perspectives
Second quarter highlights and 1 market perspectives Strategic priorities and spotlight on 2 Trusted Call Solutions 3 Second quarter 2025 financial results Third quarter and full-year 2025 4 guidance @ Copyright 2025 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 3
Slide 4: Second quarter 2025 highlights
Second quarter 2025 highlights Exceeded Organic constant U.S. Markets International Leverage Ratio of guidance on currency revenue revenue +10%* revenue grew 2.8x at quarter- revenue, Adjusted +9%, led by double-digit +6%*, with India end; repurchased EBITDA and ~6.5% excluding growth in Financial a
Slide 5: Market perspectives
Market perspectives U.S. credit volumes Consumer finances Lenders well- Improving clarity on stable and modestly healthy, supported by positioned with strong U.S. trade and fiscal better than anticipated low unemployment, earnings, adequate policies but risks in Q2 modest real wage capital and good
Slide 6: Celebrating 25th anniversary of partnering to shape India’s financial ecosystem
Celebrating 25th anniversary of partnering to shape India’s financial ecosystem Credit Conference: Hosted 2,500+ clients, 100+ CEOs – Presentations from CEOs, industry veterans and RBI Deputy Governor – 10 thematic sessions focused on lending, insurance, consumer experience Launched 6 products and 4
Slide 7: Delivering against our 2025 strategic priorities
Delivering against our 2025 strategic priorities Deliver Financial Commitments Transform the Business Drive consistent Complete technology Enhance global Accelerate innovation financial results modernizations operating model across solution suites • Exceeded financial guidance for • Strengthened cre
Slide 8: Communications Solutions Overview
Communications and Trusted Call Solutions (TCS) Communications Solutions Overview Fast-growing solutions suite (FY22-25) Complementary to TransUnion strategy Revenue 10%+ CAGR ~$320M • Restoring trust and transforming phone experience for businesses and consumers ~$235M – Highly relevant for fraud m
Slide 9: TCS transforms the phone experience
Communications and Trusted Call Solutions (TCS) TCS transforms the phone experience Problem Solution Benefit Poor consumer experience in the Trusted Call Solutions (TCS) Improve customer engagement, protect phone channel brands across verticals and use cases Improves trust and engagement by adding c
Slide 10: TCS plays a pivotal role in the mobile call ecosystem
Communications and Trusted Call Solutions (TCS) TCS plays a pivotal role in the mobile call ecosystem TCS creates a safer and more effective phone ecosystem Benefits to all stakeholders • Businesses (customers): Stronger ROI on outbound calls – Reach more consumers and improve business outcomes • Te
Slide 11: TCS leads the industry in a $1 billion+ addressable market
Communications and Trusted Call Solutions (TCS) TCS leads the industry in a $1 billion+ addressable market 94% coverage Authoritative Trusted identity Highly across leading U.S. verification data solutions provider complementary wireless carriers to top businesses fraud solutions Exclusive relations
Slide 12: TCS strengthens TransUnion’s long-term growth potential
Communications and Trusted Call Solutions (TCS) TCS strengthens TransUnion’s long-term growth potential Market leader with robust integration into telcos and businesses; $1 billion+ U.S. market opportunity Pathway to approach $250M revenue by 2028: penetrate verticals, scale solutions and expand off
Slide 13: Consolidated second quarter 2025 highlights
Q2 2025 Results Consolidated second quarter 2025 highlights Reported Y/Y ($M) Change • Organic constant currency Revenue $1,140 10% revenue growth of +9%, or ~6.5% excluding mortgage Organic Constant Currency Revenue 9% • Margins ahead of Adjusted EBITDA $407 8% expectations; contraction compared to
Slide 14: U.S. Markets second quarter 2025 highlights
Q2 2025 Results U.S. Markets second quarter 2025 highlights Organic Reported Reported Inorganic ($M) Y/Y FX Impact Impact Constant • U.S. Financial Services +17%, Currency or +11% excluding mortgage − Card & Banking +5% Revenue $890 10% – – 10% − Consumer Lending +18% − Auto +19% Financial Services
Slide 15: International second quarter 2025 highlights
Q2 2025 Results International second quarter 2025 highlights Organic Reported Reported Inorganic FX Impact Constant ($M) Y/Y Impact Currency • India +8% with commercial, Revenue $253 7% – 2% 6% direct-to-consumer and new wins offsetting still-muted Canada 42 9% (1)% – 10% consumer credit volumes Lat
Slide 16: Balanced capital deployment and natural de-leveraging
Balance Sheet Balanced capital deployment and natural de-leveraging Leverage Ratio1 4.3x 4.1x 3.9x 3.8x 3.4x 3.5x 3.5x 3.6x • Roughly $5.1 billion of debt 3.1x 3.1x 3.0x and $688 million cash at 2.8x quarter-end • $47 million2 of share repurchases year-to-date through mid-July 2015 2015 2016 2017 20
Slide 17: Third quarter 2025 guidance
Financial Guidance Third quarter 2025 guidance Reported Revenue: $1,115M to $1,135M +3% to +5% Revenue M&A contribution: ~1pt. benefit • 6% to 8% organic constant currency growth excluding FX contribution: <0.5pt. headwind ~4% headwind from large Organic Constant Currency Revenue: +2% to +4% breach
Slide 18: Full-year 2025 revenue guidance
Financial Guidance Full-year 2025 revenue guidance • Organic constant currency Reported Revenue: $4.432B to $4.472B +6% to +7% growth guidance raised (prior M&A contribution: ~0.5pt. benefit +4.5% to +6%) for H1 outperformance and positive FX contribution: <0.5pt. headwind business momentum Organic
Slide 19: Full-year 2025 Adjusted EBITDA, Adjusted Diluted EPS and other guidance
Financial Guidance Full-year 2025 Adjusted EBITDA, Adjusted Diluted EPS and other guidance • Adjusted EBITDA guidance Adjusted EBITDA: $1.580B to $1.610B +5% to +7% raised (prior +3% to +6%) FX contribution: <0.5pt. headwind – Driven by flow-through on stronger revenue growth Adjusted EBITDA margin:
Slide 20: Exceeded Q2 guidance across all key financial metrics
Exceeded Q2 Raising 2025 Accelerating product guidance across all guidance, now innovation to key financial metrics expect to deliver +6% complement our to +7% organic vertical and constant currency geographic growth revenue growth strategy Note: For additional information, refer to the “Non-GAAP Fi
Slide 21: Q&A
Q&A @ Copyright 2025 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 21
Slide 22: Appendices and Non-GAAP Reconciliations
Appendices and Non-GAAP Reconciliations @ Copyright 2025 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 22
Slide 23: TransUnion is well-positioned to navigate increased economic uncertainty
Portfolio resiliency TransUnion is well-positioned to navigate increased economic uncertainty Track record of Diversified across Breadth of solutions Transformation through-cycle solutions, verticals and expertise to delivering value; revenue growth. and geographies; advise customers positioned for
Slide 24: U.S. Financial Services credit volumes already below historical trend, particularly mortgage
Portfolio resiliency U.S. Financial Services (~1/3rd of revenue) credit volumes already below historical trend, particularly mortgage Card & Banking, Auto and Mortgage Consumer Lending • Current volumes at historical lows Auto • Current volumes across lending and ~50% below 2022 levels 18% types bel
Slide 25: Bulk of portfolio is diversified across solutions, verticals and geographies
Portfolio resiliency Bulk of portfolio is diversified across solutions, verticals and geographies and not tied to U.S. credit volumes Emerging Verticals Consumer Interactive International (~30% of revenue) (~15% of revenue) (20%+ of revenue) Broad-based solutions serving Relevant offering to consume
Slide 26: Revenue by Solution Family (FY 2024)
Business Mix Details Revenue by Solution Family (FY 2024) U.S. Markets ($3.2 billion) International ($1.0 billion) Total Company ($4.2 billion) All Other All Other All Other 4% 12% Marketing 14% 1% Fraud 15% Communications Communications 9% + Consumer = 7% Fraud 7% Credit 44% Credit 50% Fraud 5% 9%
Slide 27: U.S. Markets revenue composition (FY 2024)
Business Mix Details U.S. Markets revenue composition (FY 2024) Financial Services (~$1.4 billion) Emerging Verticals (~$1.2 billion) Consumer Interactive (~$0.6 billion) Collections 6% Public Sector 5% Auto Tenant & Card & Direct 18% Employment Banking Screening Insurance 25% 31% 6% 27% Media 14% M
Slide 28: Future revenue and earnings upside when U.S. credit volumes improve
Market Dynamics Future revenue and earnings upside when U.S. credit volumes improve from below-trend levels Originations (in millions) Mortgages Auto Loans 28.2 26.6 8.4 24.4 24.5 • Limited new home • Higher inventory and 6.8 inventory weighing on incentives supports 4.3 4.3 purchase volume improved
Slide 29: Completing U.S. and India technology modernization will drive remaining cost savings
Transformation Program Completing U.S. and India technology modernization will drive remaining transformation program cost savings Investments Expected Benefits • $355-375M of one-time expenses to • $200M free cash flow benefit expected by capture benefits 2026 - $257M of one-time expenses in 2023 a
Slide 30: Debt profile and 2025F interest expense bridge
Debt / Interest Expense Debt profile and 2025F interest expense bridge Debt Profile (6/30/25) 2025F Interest Expense Bridge Notional ~($8M) Expiry Rate ($B) ~($12M) Term Loan ~($17M) Tranche Term Loan A-4 1.3 Jun’29 SOFR + 1.25% $237M Term Loan B-5 0.1 Nov’26 SOFR + CSA + 1.75% ~$200M Term Loan B-9
Slide 31: Strengthening free cash flow in 2025 and beyond
Capital Allocation Framework Strengthening free cash flow in 2025 and beyond Free cash flow conversion Path to improving free cash flow Complete • Continue to grow revenue and earnings 95%+ remaining 90%+ Impacted by M&A transformation • Complete multi-year transformation program investments integra
Slide 32: Strong free cash flow and optimized leverage enables balanced capital allocation
Capital Allocation Framework Strong free cash flow and optimized leverage enables balanced capital allocation Prioritize growth Manage leverage Increase capital returns investments and liquidity to shareholders • Fund growth investments while • Targeting Leverage Ratio of <2.5x • Grow dividend along
Slide 33: Disciplined M&A approach aligned to growth strategy
Capital Allocation Framework Disciplined M&A approach aligned to growth strategy Strategic Focus for M&A Financial Considerations M&A is an important strategic tool, but strength of M&A evaluated against all alternatives to maximize long- portfolio creates a high bar term free cash flow per share •
Slide 34: Adjusted EBITDA and Adjusted EBITDA Margin
Adjusted EBITDA and Adjusted EBITDA Margin @ Copyright 2025 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 34
Slide 35: Adjusted Net Income and Adjusted Diluted EPS
Adjusted Net Income and Adjusted Diluted EPS @ Copyright 2025 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 35
Slide 36: Adjusted Effective Tax Rate
Adjusted Effective Tax Rate $ in millions Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Income before income taxes $ 156.8 $ 120.7 $ 350.5 $ 203.7 Total adjustments before income tax items from Adjusted Net Income table above 135.6 137.4 227.9 291.6 Adjusted income before
Slide 37: Leverage Ratio
Leverage Ratio @ Copyright 2025 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 37
Slide 38: Non-GAAP Adjustment Footnotes
Non-GAAP Adjustment Footnotes As a result of displaying amounts in millions, rounding differences may exist in the tables and footnotes. 1. Consisted of amortization of intangible assets from our 2012 change-in-control transaction and amortization of intangible assets established in business acquisi
Slide 39: Non-GAAP Adjustment Footnotes
Non-GAAP Adjustment Footnotes 4. Operating model optimization consisted of the following adjustments: Adjusted EBITDA & Adjusted Net Income Leverage Ratio Three Months Ended Six Months Ended Trailing Twelve Months $ in millions June 30, June 30, Ended June 30, 2025 2024 2025 2024 2025 Employee separ
Slide 40: Adjusted EBITDA and Adjusted EPS Guidance
Adjusted EBITDA and Adjusted EPS Guidance As a result of displaying amounts in millions, rounding differences may exist in the table. 1. These adjustments include the same adjustments we make to our Adjusted EBITDA and Adjusted Net Income as discussed in the Non-GAAP Financial Measures section of ou