Icf International, Inc. · NASDAQ:ICFI
Icf International — Canaccord Genuity 40th Annual Growth Conference 2020
29 slides from Icf International's conference presentation, Aug 11, 2020
Slide 1: ICF Investor Presentation
ICF Investor Presentation g Canaccord Genuity 40" Annual Growth Conference a ie August 12, 2020 sz
Slide 2: Cautionary Statement
Certain statements made by us in this presentation that are not historical facts or that relate to future plans, events, or performances are forward-looking statements within the meaning of the federal securities laws. Our actual results may differ materially from those Cautionary Statement expresse
Slide 3: ICF: A professional + technology services firm
ICF: A professional + technology services firm Serve a roster of Leverage Deliver strong Benefit from government deep domain cross-cutting visibility of a clients, energy expertise to capabilities in substantial utilities + achieve superior technology + backlog + commercial results for clients | eng
Slide 4: Synergy in markets + capabilities
Synergy in markets + capabilities Advisory + Strategy Program Management Technology, Analytics + Engagement
Slide 5: Track record of strong revenue + EPS growth
Track record of strong revenue + EPS growth ar yh Revenue: GAAP EPS: 5-year CAGR 5-year CAGR 7.1% 12.4%
Slide 6: YTD COVID-19 impacts
YTD COVID-19 impacts ~90% of ICF’s business proceeding apace International government events work postponed Commercial marketing work for certain clients cancelled or postponed ICF has contract vehicles in all federal agencies actively involved in handling COVID-19 crisis Plus-ups and new contracts
Slide 7: COVID-19 opportunities: Recovery and Reinvent Phases
COVID-19 opportunities: Recovery and Reinvent Phases Increased spending Guidelines for government Management of on public health roles and responsibilities national stockpile of in a pandemic vaccines and — medical equipment Modernization of disease =: Evaluation of hospital surveillance systems sur
Slide 8: ITG acquisition
ITG acquisition ITG is a unique IT consulting firm delivering application modernization and business transformation for U.S. federal government clients Key business statistics Key tech partners $90M +$100M 92% servicenow AWS Appian 2019 Revenue revenue runrate prime contract ane fain Sersroa 350 654
Slide 9: Meaningful joint growth opportunities
Meaningful joint growth opportunities ICF’s Domain Expertise + Client ICF’s Robust Business Ices Basti ecless Selective Relationships Development Engine Contract Vehicles Insourcing ITG brings a substantial business Combination of IcF’s deep domain development pipeline and a backlog that expertise a
Slide 10: Catalysts for long-term organic growth
Catalysts for long-term organic growth Federal Government * Civilian agency spending * Public health * IT modernization + Citizen engagement Electric Utilities + Energy efficiency outsourcing in California * Distributed energy resources * Resilience planning State + Local Government * Disaster manag
Slide 11: ICF culture: a source of competitive advantage
ICF culture: a source of competitive advantage Purpose To build a more prosperous and resilient world for all. Values Interact with integrity Bring your passion Embrace differences Challenge assumptions Work together Be greater than
Slide 12: We serve a roster of government clients, energy utilities + commercial clients
We serve a roster of government clients, energy utilities + US Federal US.State and pe commercial clients* ae >80% of revenues from government clients + energy utility clients i ignifi Commercial Provides significant on:ils' Government a % 34% **Energy utilities, commercial marketing, + other
Slide 13: We work with a broad array of government clients
We work with a broad array of government clients Government revenues 66% of total revenues* US federal revenues primarily from civilian agencies DHHS 16% Us State and Local 18% Dos 5% EPA 2% DoT 1% Dor HUD 1% Other Fed 9% Commercial 34%** Non-US Government 7% “Energy uilties, commercial marketing, +
Slide 14: Utility industry clients
Utility industry clients Energy efficiency programs for utilities: State-mandated Utility transformation: distributed energy + grid modernization Majority long-term contracts
Slide 15: +You
+XouU ICF’s go-to-market brand for digital transformation services e ww Technology Analytics Combines creativity of an agency with deep domain expertise of a consultancy o & Engagement Strategy Designs solutions that drive real participation with customers, citizens, colleagues Built specifically to
Slide 16: Our business, environmental, and social responsibilities are intertwined
At ICF, our business, environmental, and social responsibilities are intertwined. We create impact through our client work... — $650+M revenue from $550+M revenue from services supporting services supporting energy health, education, saving, carbon reduction, development, and and natural resource so
Slide 17: ...and in the way we operate
..and in the way we operate Minimizing our Investing in the Ensuring value through carbon communities where 80Vernance—corporate footprint—net we work and live policies and structure help zero carbon status us operate ethically and in since 2006 compliance with the law
Slide 18: Corporate citizenship performance highlights of 2019
Corporate citizenship performance highlights of 2019 Provided opportunities Leadership Pay equity Low turnover for all employees to develop 53% female leaders no pay disparity across 15.4% and advance. gender and race in the same " 25% female board members roles, based onan external 25 compared to 1
Slide 19: Drivers of long-standing client relationships
Drivers of = = long-standing Institutional Workforce of client relationships memory of long-time government and industry experts utility programs Long-term Proprietary contract vehicles IP/loyalty with government programs and utility clients
Slide 20: Financial Performance
#102 Financial Performance
Slide 21: Track record of consistent revenue + earnings growth
Track record of consistent revenue + earnings growth $1,600 1,479 s1.400 | sis pe S450) mGAAPEPS Non-GAAP Adj.* ‘ sites $1229 $4.00 51.200 ggg S132 Ba - 1,000 3.00 j ion) a | ae 5 ost 5254 << supa $2.00 2.00 | | | ss v0 | si eso ssi | = vol ae, Se 2014 2015 «201620172018 2010 zoe” 2015” 2018 20
Slide 22: 2020 guidance
2020 guidance Revenue $1.450B - $1.510B GAAP EPS $2.85 - $3.15* EBITDA $126M - $136M Non-GAAP EPS $3.50 - $3.80 Operating Cash Flow ~$110M Assumes no material new revenues in H2 associated with COVID-19 opportunities or other meaningful opportunities in our pipeline * Exclusive of special charges
Slide 23: Q2 2020 performance
Q2 2020 performance Q2 2020 service revenue of $261.2M up 3.5% vs. Q2 2019 H1 2020 service revenue up 4.6% vs. H1 2019 Revenue ($ ns)* $1,000 | se00) $708.0 $712.2 $600 sooo $366.7 $354.0 $0 + 22019 =~ 220% -yrD2019-—-YTD.2020 YTD performance supports our FY guidance StS st.71 $0.00 22019 22020 =~ ¥
Slide 24: Awards ($ Millions)
ards ($ Millions) Book-to-Bill Ratio (TTM) Q2 2020 backlog does not include $250M+ of award notices Q220191.15 Q220201.00 expected to be included in Q3 contract awards mFunded — = Unfunded $900 ' $3.0 1 seo2 $2.5 | $2.4 $2.4 H 5 $639 y J - #600 H | $2.0 + % e403. i $1.5 | $300 4-282 i $1.0 | ' | $1.
Slide 25: Pipeline ($B)
Pipeline ($B) $8.0 $7.0 $6.0 $5.0 $4.0 $3.0 $2.0 $1.0 $0.0 i $6.4 Pty $6.5 $6.5 an $5.8 i od eS lo | $43 $48 | | ia | | | | EEE SE. | & Record pipel fe at end of Q2 2020 includes over $4 billion of federal government opportuni
Slide 26: Operating cash flow, 2015 - 2020
Operating cash flow, 2015 - 2020 sm ‘Dividends Debt Repayment & Other wShareRepurchase_m CAPEX $140.0 esti sui72 _ $100.0 $80.0 $763 Rad $747 $00.0 Fee $40.0 $200 $108 178 $0.0 s 2015 2016 2017 2018 2020 GUIDANCE* Net Debt $303.8 $2533 gies g1087 $159.0 Debt/ EBITDA'* 2.64 245% 73x 157% Lane
Slide 27: In summary — ICF
In summary — ICF Distinctive expertise in Established long-term Substantial contract backlog high-growth sectors of client and contract — robust business government, energy relationships development pipeline and utility industry + digital track record of high win s & transformation rates . i N Allle
Slide 28: Thank you
Thank you
Slide 29: ‘allenges Sree 1969, pl
‘allenges Sree 1969, pl ion
ICF International — Canaccord Genuity 40th Annual Growth Conference 2020 on 6ix