Colliers International Group Inc. · TSX:CIGI
Colliers International — Q1 2026 Earnings Presentation
28 slides from Colliers International's earnings presentation, May 5, 2026
Slide 1: Investor Presentation
COMMERCIAL REAL ESTATE | ENGINEERING | INVESTMENT MANAGEMENT Presentation Investor March 2026
Slide 2: Basis of Presentation
Colliers 2 Basis of Presentation • All amounts in millions of US Dollars unless otherwise noted. • Revenues and Adjusted EBITDA figures on Slide 5, Slide 8 and Slide 10 shown on a pro forma trailing twelve months ended December 31, 2025 and include the full year • This presentation makes reference t
Slide 3: Colliers Today
Colliers 3 Global diversified professional services and Colliers Today investment management company Commercial Real Estate $3.3B Revenue | 13,500 professionals 2025 Engineering $5.6B $1.8B Revenue | 9,600 professionals Revenue Investment Management $0.5B Revenue | $108B AUM | 600 professionals Segm
Slide 4: Investment Highlights
Colliers 4 30-Year History The Colliers Way of Compounding Drive growth & value creation Superior equity returns Diversified Investment Visionary Leadership Global Platform Highlights Substantial inside ownership Massive end-markets with compelling growth prospects Asset-Light 70%+ Resilient Busines
Slide 5: Transformation into a Stronger, Better Colliers
Colliers 5 Transformation into a Stronger, Better Colliers Improving the core with high value, resilient growth engines 2015 2016 2020 2025 28% 71% Resilient AEBITDA Resilient AEBITDA Investment Engineering Management Rapidly growing $1.7B Highly differentiated top-tier multi- $5.6B platform discipl
Slide 6: The Colliers Way
Colliers 6 The Colliers Way “Secret Sauce” for long term value creation in professional services Enterprising Culture Internal Growth Acquisitions • Focused and disciplined • Massive end-markets • Target 15%+ unlevered IRR capital allocation • Grow faster than market • Fragmented markets ripe for •
Slide 7: Segment Highlights
Colliers 7 Segment Highlights
Slide 8: Commercial Real Estate $3.3B
Colliers 8 Commercial Real Estate $3.3B Full service global platform TTM Revenue (pro forma including completed acquisitions) • One of the top global players • Multiple services, balanced and diversified globally Service Leasing and Geographic • Lease, buy/sell, finance commercial Mix Capital Mix pr
Slide 9: Commercial Real Estate
Colliers 9 Commercial Real Estate 38% Diversified across services, asset classes and geographies Resilient Revenues 4,600 33 $112B 2B Square Feet Leasing and Capital Markets Countries Transaction Property Management Producers (70, including affiliates) Value in 2025 Portfolio
Slide 10: Engineering $1.8B
Colliers 10 Engineering $1.8B Rapidly growing global player with expanding credentials TTM Revenue (pro forma including completed acquisitions) • High value, resilient technical consulting services for a broad client set • Multiple disciplines - civil, surveying, inspection, planning, design, projec
Slide 11: Ayesa Engineering
Colliers 11 Ayesa Engineering Strategic opportunity to fill geographic whitespace in Engineering Ayesa Engineering TRANSACTION SNAPSHOT • Founded in 1966 and headquartered in Seville, Spain with more than 3,200 total professionals (Figures in US$ millions) • Global provider of engineering services t
Slide 12: Engineering Top 30 Global Design Firm
Colliers 12 Engineering Top 30 Diversified across end markets, geographies and clients Global Design Firm (ENR rankings; pro forma with Ayesa Engineering) 13,200 Professionals Globally1 4,100 3,100 Canada US 2,700 2,200 APAC Europe 900 200 Latin America Middle East Colliers Engineering Ayesa Enginee
Slide 13: Investment Management $108B
Colliers 13 Investment Management $108B Premier global middle-market real assets platform AUM $54B FPAUM • Cycle-tested expertise across high growth and demographic driven defensive sectors • Alternative investments across seniors, students, healthcare and infrastructure (energy, data centers, commu
Slide 14: Investment Management
Colliers 14 Investment Management Unrivalled track record of achieving scale through integration of managers to materially amplify value • Integration of operations under HSAM started in 2025, to be completed in 2026 • Demonstrated ability to deliver outperformance over target returns through cycle-
Slide 15: Three Growth Engines, One Colliers
Colliers 15 Three Growth Engines, One Colliers Harnessing cross-platform and internal synergies to maximize value ENG & IM ENG & CRE • IM provides a continuous • Client relationships generate global pipeline of developments that cross-referrals require Engineering expertise • Capital Markets and Lea
Slide 16: Financial Overview
Colliers 16 Financial Overview
Slide 17: Strong Record of Performance
Colliers 17 Strong Record of Performance Compounding growth at scale Revenue Adjusted EBITDA Adjusted EPS (in US$ millions) (in US$ millions) (in US$) $5,559 $4,822 $4,459 $4,335 $800 20.0% $732 $4,089 $700 $631 $644 $595 18.0% $6.99 $6.58 $600 $544 $6.18 $2,787 16.0% $5.75 $500 $5.35 $400 $361 14.0
Slide 18: Robust Free Cash Flow
Colliers 18 Robust Free Cash Flow Consistently high conversion of earnings Free Cash Flow and Conversion Ratio (in US$ millions) $1,000 151% 160% $900 • Robust free cash flow provides liquidity for $800 140% reinvestment and acquisitions 115% $700 105% 120% $600 90% 88% 100% • TTM free cash flow con
Slide 19: Capitalization Overview
Colliers 19 Capitalization Overview Disciplined capital allocation in asset-light professional services Capitalization • More than $1.1 billion of available liquidity (in US$ millions) Dec 31, 2025 Dec 31, 2024 under revolving credit facility due 2031 Cash $ 207.9 $ 176.3 Total Debt 1,633.5 1,508.5
Slide 20: Investment Highlights
Colliers 20 30-Year History The Colliers Way of Compounding Drive growth & value creation Superior equity returns Diversified Investment Visionary Leadership Global Platform Highlights Substantial inside ownership Massive end-markets with compelling growth prospects Asset-Light 70%+ Resilient Busine
Slide 21: Appendix
Colliers 21 Appendix
Slide 22: Reconciliation of GAAP earnings to adjusted EBITDA
Colliers 22 Reconciliation of GAAP earnings to adjusted EBITDA Three months ended Twelve months ended (US$ thousands) December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Net earnings $ 86,530 $ 81,496 $ 224,553 $ 236,936 Income tax 31,078 18,699 80,154 74,177 Other income, includ
Slide 23: Reconciliation of GAAP earnings to adjusted net earnings and adjusted EPS
Colliers 23 Reconciliation of GAAP earnings to adjusted net earnings and adjusted earnings per share Three months ended Twelve months ended (US$ thousands) December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Net earnings $ 86,530 $ 81,496 $ 224,553 $ 236,936 Non-controlling inter
Slide 24: Reconciliation of net cash flow from operations to free cash flow
Colliers 24 Reconciliation of net cash flow from operations to free cash flow Three months ended Twelve months ended (US$ thousands) December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Net cash provided by operating activities $ 256,693 $ 215,307 $ 330,140 $ 326,009 Contingent ac
Slide 25: Reconciliation of revenues to net revenues – Quarterly
Colliers 25 Reconciliation of revenues to net revenues – Quarterly Commercial Real Investment 1 (US$ thousands) Estate Engineering Management Corporate Consolidated Three months ended December 31, 2025 Revenues $ 1,029,652 $ 433,027 $ 143,650 $ 216 $ 1,606,545 Subconsultant and other direct costs (6
Slide 26: Reconciliation of revenues to net revenues – Full Year
Colliers 26 Reconciliation of revenues to net revenues – Full Year Commercial Real Investment 1 (US$ thousands) Estate Engineering Management Corporate Consolidated Twelve months ended December 31, 2025 Revenues $ 3,290,578 $ 1,734,940 $ 532,274 $ 670 $ 5,558,462 Subconsultant and other direct costs
Slide 27: Other Non-GAAP Measures
Colliers 27 Other Non-GAAP Measures Local currency revenue and adjusted EBITDA growth rate Fee paying assets under management and internal revenue growth rate measures We use the term fee paying assets under management (“FPAUM”) to represent only the Percentage revenue and adjusted EBITDA variances
Slide 28: Investor Presentation
Investor Presentation Colliers (NASDAQ, TSX: CIGI) is a global diversified professional services and investment management company operating through three industry leading businesses: Commercial Real Estate, Engineering, and Investment Management. With greater than a 30-year track record of consiste
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