Slide 1: 1st Quarter 2026 Earnings Presentation
1st Quarter 2026 Earnings Presentation Alight, Inc. May 5, 2026 1
Slide 2: Disclaimer
Disclaimer Forward-looking statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements re
Slide 3: Strategic update
1ST QUARTER 2026 EARNINGS Strategic update Rohit Verma Chief Executive Officer
Slide 4: 1Q26 Highlights
1Q26 Highlights Financial Overview • Solid project revenue and growth in the partner network - Recurring revenue: $ 498M - Project revenue: $ 36M • >$500M in total liquidity (post 1Q26 TRA payment) $534M $104M - $178M in cash • Revenue under contract of $2B Revenue Adj. EBITDA1 - 94% recurring 19.5%
Slide 5: Delivering aggregated experience across Health, Wealth, & Leaves
Delivering aggregated experience across Health, Wealth, & Leaves OUR SOLUTIONS Health Wealth Leaves • Benefit administration • Defined contribution admin • Leave of absence administration • Healthcare navigation • Defined benefit admin • Medical and disability guidelines • Reimbursement accounts • F
Slide 6: Well-positioned for increasing demand and the unique needs of clients across spectrum of size and complexity
Well-positioned for increasing demand and the unique needs of clients across spectrum of size and complexity Increasing client Non-discretionary Resilient Uniquely positioned demand offering business model in large TAM Employers lack in-house Benefits is a non- Employee benefits Alight is uniquely e
Slide 7: Alight The opportunity
Industry-leading scale Attractive market dynamics Alight Product leadership The opportunity Diverse client portfolio Unparalleled benefits platform Enterprise AI enablement 7 | © 2026 Alight. All rights rese rve d.
Slide 8: Leveraging & deploying AI to create new pathways for client value creation
Leveraging & deploying AI to create new pathways for client value creation AI supports Alight’s operating model Governance and human Accountability cannot End-to-end ownership Proprietary data limits judgment limit AI-only be automated captures AI economics substitution models Alight’s governance an
Slide 9: Three key principles driving execution
Deliver service and operational excellence Three key principles Innovate products that create real driving execution value and actionable insights Build relationships that result in enduring, trusted partnerships 9 | © 2026 Alight. All rights rese rve d.
Slide 10: Financial results
1ST QUARTER 2026 EARNINGS Financial results
Slide 11: 1Q26 financial results
1Q26 financial results ($ in millions) 1Q26 1Q25 Change Revenue Recurring Revenue $498 $520 (4.2%) Project Revenue $36 $28 28.6% Total Revenue $534 $548 (2.6%) Adjusted Gross Profit1 $189 $200 (11) % margin 35.4% 36.5% (110 bps) Adjusted EBITDA1 $104 $118 (14) % margin 19.5% 21.5% (200 bps) Adjusted
Slide 12: Maximizing capital position
Maximizing capital position ($ millions) 3/31/2026 12/31/2025 Total Debt $2,000 $2,005 - >$500M of liquidity at March 31, 2026 (post 1Q26 Less Cash $178 $273 TRA payment) - $178M in cash and equivalents Net Debt $1,822 $1,732 - $330M available on revolver 1Q26 Free Cash Flow1 ($M) - Preserving capit
Slide 13: Looking forward
1ST QUARTER 2026 EARNINGS Looking forward
Slide 14: Building a stronger Alight
Building a stronger Alight Client-centric approach Management with deep Client experience & industry expertise service excellence • Solution focused • Key hires: • Product and user experience • Enhanced key account - President of Employer Solutions innovation coverage - Chief Technology Officer • AI
Slide 15: Q&A
1ST QUARTER 2026 EARNINGS Q&A
Slide 16: GAAP to Non-GAAP Reconciliations
APPENDIX GAAP to Non-GAAP Reconciliations
Slide 17: Reconciliation of Net Income (Loss) to Adjusted EBITDA (unaudited)
Reconciliation of Net Income (Loss) to Adjusted EBITDA (unaudited) Three Months Ended March 31, March 31, (in millions) 2026 2025 Net Income (Loss) From Continuing Operations $ (19) $ (17) Interest expense 24 22 Income tax expense (benefit) (7) (3) Depreciation 34 30 Intangible amortization 70 71 EB
Slide 18: Reconciliation of Gross Profit to Adjusted Gross Profit (unaudited)
Reconciliation of Gross Profit to Adjusted Gross Profit (unaudited) Three Months Ended March 31, (in millions) 2026 2025 Gross Profit $ 156 $ 171 Add: stock-based compensation 2 3 Add: depreciation and amortization 31 26 Adjusted Gross Profit $ 189 $ 200 Gross Profit Margin 29.2 % 31.2 % Adjusted Gr
Slide 19: Reconciliation of Net (Loss) Income to Adjusted Net Income & Adjusted Diluted EPS
Reconciliation of Net (Loss) Income to Adjusted Net Income & Adjusted Diluted Earnings per Share (unaudited) Three Months Ended 1. Excludes the impact of discontinued operations. March 31, March 31, 2. Transaction and integration expenses primarily relate (in millions, except share and per share amo
Slide 20: Reconciliation of Free Cash Flow (unaudited)
Reconciliation of Free Cash Flow (unaudited) (in millions) Three Months Ended March 31, Non-GAAP Free Cash Flow Reconciliation 2026 2025 Cash provided by operating activities - continuing operations $ 79 $ 73 Capital Expenditures (26) (29) Non-GAAP Free Cash Flow $ 53 $ 44 20 | © 2026 Alight. All ri