Slide 1: Earnings Presentation First Quarter 2026
Earnings Presentation First Quarter 2026 April 29, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than st
Slide 3: Non-GAAP Measures
Non-GAAP Measures To supplement our consolidated financial statements, which are prepared and presented in accordance with United States Generally Accepted Accounting Principles (“GAAP”), we also present Adjusted Net Income (Loss), Adjusted Diluted Earnings Per Share (“EPS”), Adjusted EBITDA, Adjust
Slide 4: Today's Presenters
Today’s Presenters Jerry Grisko Brad Lakhia Peter Scavuzzo Chief Executive Officer Chief Financial Officer Chief Information and Technology Officer 4
Slide 5: Q1 2026 Highlights
Q1 2026 Solid Start to 2026 On track to deliver full-year expectations Highlights Advancing AI Roadmap Focused on driving growth and efficiency On Track to Achieve Global Resources Delivering 10% of Tax and Attest Hours Continued acceleration of investments in global capabilities Improving Industry
Slide 6: Strategic Priorities to Unlock Growth
Strategic Priorities to Unlock Growth Strategically leveraging scale and enhanced industry go-to-market approach to generate strong organic revenue growth Growth Improve Client Retention Expand Existing Win New and Enhance Value Relationships Client Logos Driver Attract and Retain Top Talent Continu
Slide 7: Advancing Artificial Intelligence to Transform Service Delivery
Advancing Artificial Intelligence to Transform Service Delivery Powered by a trusted partner ecosystem and built on a secure, enterprise-grade foundation Data Enrichment Deployed across all client records – furthering ✓ Bold BuildMoves. Trusted once, use manyPartnership. approach Productivity & Effi
Slide 8: Increasing Global Capabilities to Expand Capacity and Improve Efficiency
Increasing Global Capabilities to Expand Capacity and Improve Efficiency Meaningful growth and margin expansion through higher utilization of global resources Share of Total Global Resources Tax and Attest Hours • On track to achieve 2026 target: >20% 10% of total tax and attest hours completed by g
Slide 9: Financial Overview
AM Financial Overview
Slide 10: Growing Revenue and Increasing Profitability
Growing Revenue and Increasing Profitability Total Revenue Adjusted EBITDA / Margin(1) Adjusted Diluted EPS (1) $ in millions $ in millions $ per share +1.3% +1.5% +7.3% $244 $849 $2.50 $241 $838 $2.33 ~16% ~13% 28.7% 28.8% ~84% ~87% 1Q25 1Q26 1Q25 1Q26 1Q25 1Q26 • Total revenue up 1.3%, OGIR(2) up
Slide 11: Strengthening Free Cash Flow and Executing Capital Allocation Priorities
Strengthening Free Cash Flow and Executing Capital Allocation Priorities Free Cash Flow(1) Net Leverage(2) Share Count $ in millions Net Debt / TTM Adjusted EBITDA Weighted average fully-diluted shares in millions -0.5x -2.6M 3.9x ($29) 64.1 3.4x 61.5 ~16% ~13% ($93) +69.5% ~84% ~87% 1Q25 1Q26 1Q25
Slide 12: Financial Services Segment
Financial Services Segment(1) Total Revenue Adjusted EBITDA/Margin(2) FY2025 Revenue Breakdown $ in millions $ in millions 1Q26 OGIR(3) +1.8% Technology 6% +2.1% +7.0% Govt. Healthcare 9% Accounting & Tax 72% $740 $244 Advisory $725 13% FY2025 $227 Revenue 33.0% ~$2.3B 31.4% 1Q25 1Q26 1Q25 1Q26 (1)
Slide 13: Benefits & Insurance Services Segment
Benefits & Insurance Services Segment Total Revenue Adjusted EBITDA/Margin(1) FY2025 Revenue Breakdown $ in millions $ in millions Other 5% Payroll / Human -4.2% Capital Advisory Employee Benefits 14% Consulting -16.4% $113 35% $108 FY2025 $30 Revenue $25 ~$410M 26.9% Property & Casualty 23.5% 22% R
Slide 14: Increasing 2026 Adjusted EBITDA and Adjusted Diluted EPS Ranges
Increasing 2026 Adjusted EBITDA and Adjusted Diluted EPS Ranges Previous 2026 Current 2026 Metric • Key Details Outlook(1) Outlook(1) • Industry groups drive improved cross-serving and new logo wins with client tailored solutions ~$2.8B to $2.9B ~$2.8B to $2.9B Revenue • Range largely driven by macr
Slide 15: Disciplined Capital Allocation Framework - Target Net Leverage <2.5x in 2027
Disciplined Capital Allocation Framework - Target Net Leverage <2.5x in 2027 Near-term (2026 / 2027) Long-term (2027+) Invest in future organic growth with focus on top talent, client service, operational excellence, and technology Debt Reduction Strategic M&A Share repurchases and Strategic M&A Sha
Slide 16: Investment Thesis – Value Creation Across Multiple Levers
Investment Thesis – Value Creation Across Multiple Levers CBIZ is the leading professional services advisor of its kind to middle-market businesses nationwide Longstanding Diverse Client Base Attractive Industry with High-Quality Resilient Large middle-market client base Secular Growth Tailwinds Bus
Slide 17: Thank You Q&A
Thank You 7 aga F} 3 17 Insights that Impact Accounting | Tax | Advisory | Benefits | Insurance | Tethnole
Slide 18: CBIZ – At a Glance
CBIZ – At a Glance Year-end 2025 Project-based Work ~28% FY2025 Revenue ~$2.8B Recurring Services ~72% Major Market $2.8B LEADING 9.5K+ 23 ~90% REVENUE MIDDLE MARKET TEAM MEMBERS MAJOR CLIENT RETENTION ADVISOR MARKETS RATE 18
Slide 19: Positioned to Win in the Middle Market Professional Services Industry
Positioned to Win in the Middle Market Professional Services Industry CBIZ is the leading professional services advisor of its kind to middle-market businesses nationwide Attractive US Middle Market Professional Service Industry CBIZ Competitive Advantages to Win in the Market Large & Growing TAM(1)
Slide 20: Synergy and Integration Update
Synergy and Integration Update $50M+ ~$3M ✓ Aligned reporting structure, 2027 co-locations, and standardized Key cost synergy categories operating processes ~$12M ✓ Administrative operations ✓ Accelerated operating efficiency improvement through investment 2026 ✓ Overlap in client-facing roles in sh
Slide 21: Common Stock Shares Outstanding
Common Stock Shares Outstanding 1.6M shares repurchased 5.0M shares 7.3M Marcum under ROFR presented under deferred shares ROFR 3.3M shares cleared 1.9M open issued (1) for sale in the open market share 0.3M shares market repurchases other, net Other share issuances, net of 54.3M shares tax withhold
Slide 22: Financial Goals
Financial Goals 2026 Revenue Adjusted Diluted EPS(1)(2) Free Cash Flow(1)(2) Guidance(1) $2.8B to $2.9B $4.00 to $4.10 ~$270M to $290M Long-term Goals Operating Leverage 8% - 10% Revenue Growth 1.5x – 2x Earnings Growth (1) Non-GAAP financial measure. See Appendix for GAAP reconciliation. (2) With r
Slide 23: Industry Verticals
Industry Verticals Consumer & Alternative Capital Financial Food & Construction Industrial Investments Markets Services Beverage Products Not-for-Profit Private Professional Real Technology & Government & Higher Equity Services Estate Life Sciences Education 23
Slide 24: Strong and Consistent Cash Generation
Strong and Consistent Cash Generation $ in millions 1Q25 2Q25 3Q25 4Q25 1Q26 Revenue $838 $683 $694 $543 $849 • Strength of business model and low Adjusted EBITDA(1) $241 $120 $124 $(25) $244 capital expenditure requirements drive Working Capital Source (Use)(2) (274) 84 (22) 199 (296) meaningful ca
Slide 25: Reconciliation of GAAP to Non-GAAP Results – 1Q26
Reconciliation of GAAP to Non-GAAP Results(1) – 1Q26 Three Months Ended March 31, 2026 Benefits and Corporate and Financial Services Insurance Services Other Consolidated EPS Revenue $ 740,330 $ 108,249 - $ 848,579 Net income $ 208,687 $ 23,390 $ (70,465) $ 161,612 $ 2.63 Adjustments: Amortization o
Slide 26: Reconciliation of GAAP to Non-GAAP Results – FY25
Reconciliation of GAAP to Non-GAAP Results(1) – FY25 Twelve Months Ended December 31, 2025 Benefits and Corporate Financial Services Insurance Services and Other Consolidated EPS Revenue $ 2,348,358 $ 409,633 - $ 2,757,991 Net income $ 340,602 $ 76,073 $(301,231) $ 115,444 $ 1.83 Adjustments: Amorti
Slide 27: Reconciliation of GAAP to Non-GAAP Results – 4Q25
Reconciliation of GAAP to Non-GAAP Results(1) – 4Q25 Three Months Ended December 31, 2025 Financial Benefits and Corporate Services Insurance Services and Other Consolidated EPS Revenue $ 451,322 $ 91,341 - $ 542,663 Net income $ (46,875) $ 10,813 $ (43,355) $ (79,417) $ (1.28) Adjustments: Amortiza
Slide 28: Reconciliation of GAAP to Non-GAAP Results – 3Q25
Reconciliation of GAAP to Non-GAAP Results(1) – 3Q25 Three Months Ended September 30, 2025 Financial Benefits and Corporate and Services Insurance Services Other Consolidated EPS Revenue $ 590,431 $ 103,387 - $ 693,818 Net income $ 96,410 $ 19,347 $ (85,611) $ 30,146 $ 0.48 Adjustments: Integration
Slide 29: Reconciliation of GAAP to Non-GAAP Results – 2Q25
Reconciliation of GAAP to Non-GAAP Results(1) – 2Q25 Three Months Ended June 30, 2025 Benefits and Corporate and Financial Services Insurance Services Other Consolidated EPS Revenue $ 581,567 $ 101,929 - $ 683,496 Net income $ 86,602 $ 17,968 $ (62,628) $ 41,942 $ 0.66 Adjustments: Integration costs
Slide 30: Reconciliation of GAAP to Non-GAAP Results – 1Q25
Reconciliation of GAAP to Non-GAAP Results(1) – 1Q25 Three Months Ended March 31, 2025 Financial Benefits and Corporate and Services Insurance Services Other Consolidated EPS Revenue $ 725,038 $ 112,976 - $ 838,014 Net income $ 204,465 $ 27,945 $(109,637) $ 122,773 $ 1.91 Adjustments: Amortization o
Slide 31: Reconciliation of GAAP to Non-GAAP Results – Free Cash Flow
Reconciliation of GAAP to Non-GAAP Results(1) – Free Cash Flow March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 Net cash provided by operating activities $ (88,266) $ 113,146 $ 23,966 $ 143,639 $ (25,515) Less: Additions to property and equipment (5,177) (7,948) (1,91
Slide 32: Reconciliation of GAAP to Non-GAAP Results – Net Debt & Net Leverage
Reconciliation of GAAP to Non-GAAP Results(1) – Net Debt & Net Leverage March 31, 2025 June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 Term loan $ 1,382,500 $ 1,365,000 $ 1,347,500 $ 1,330,000 $ 1,312,500 Revolver facility 165,900 208,700 239,300 142,400 239,000 Other debt(2) 58,97