Slide 1: First Quarter 2026 Earnings
First Quarter 2026 Earnings Chris Cartwright, President and CEO Todd Cello, CFO April 28, 2026
Slide 2: Forward-Looking Statements and Non-GAAP Financial Information
Forward-Looking Statements Non-GAAP Financial Information This investor 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
Slide 3: Agenda
1 First quarter 2026 highlights 2 AI-powered products and growth 3 First quarter 2026 financial results Second quarter and full-year 2026 4 guidance @ Copyright © 2026 2026 TransUnion, TransUnion, its subsidiaries its subsidiaries and/or affiliates. All Rights Reserved. 33 and/or affiliates. All Rig
Slide 4: First quarter 2026 highlights
First quarter 2026 highlights Exceeded Organic constant U.S. Markets International Completed guidance on currency revenue revenue +14%* revenue flat*, as acquisition revenue, Adjusted +11%* or +7% ex- with strength anticipated, led by of Trans Union de EBITDA and FICO mortgage across Financial high-
Slide 5: Market perspectives
Market perspectives Lenders entered Geopolitics add TransUnion revenue Monitoring market 2026 with cautious incremental and volumes remain dynamics; optimism for credit uncertainty around stable through mid- continuing to drive growth, supported by inflation, interest rates April; with strong innova
Slide 6: Maintaining organic growth guidance, balancing Q1 strength and macro uncertainty
Maintaining organic growth guidance, balancing Q1 strength with macro uncertainty and prudent conservatism Guidance increased primarily for Trans Union de Mexico acquisition Updated Change to Metric Guidance High-end Expectations $5,100M to $5,135M 3rd straight year of high-single Revenue 8% to 9%
Slide 7: AI solidifies our strengths and fuels growth
AI solidifies our strengths and fuels growth Durable AI-enabled Positioned for AI- + powered growth: data advantage organization Contributory credit databases AI-native OneTru platform AI-enabled customers Non-public, highly regulated data furnished Enhancing data onboarding, identity consume more
Slide 8: AI-enabled customers consume more data and adopt innovation more rapidly
AI-enabled customers consume more data and adopt innovation more rapidly Leading Fintech Top 5 Credit Card Issuer Loan issuance TransUnion revenue Card originations TransUnion revenue ~$15M ~$20M 20%+ 60%+ (DD%) +50% 2022 2025 2022 2025 2022 2025 2022 2025 Revenue outpacing loan growth and volumetri
Slide 9: Next-gen AI-powered solutions scale innovation and drive higher data consumption
Next-gen AI-powered solutions scale innovation and drive higher data consumption TruIQ Analytics Audiences by AI Model Credit Orchestrator Marketing TransUnion Fraud Factory (leveraging Google Gemini models) Modeling with natural language Expanded and curated Accelerated response to new prompts to e
Slide 10: Consolidated first quarter 2026 highlights
Consolidated first quarter 2026 highlights • Broad-based organic constant currency growth across solutions families: Reported Y/Y − Credit +high-single digit ex- ($M) Change FICO mortgage royalties Revenue $1,246 14% − Fraud +high-single digit − Marketing +mid-single digit Organic constant currency
Slide 11: U.S. Markets first quarter 2026 highlights
U.S. Markets first quarter 2026 highlights • U.S. Financial Services +24%, Reported Reported Inorganic Organic or +14% excluding FICO FX Impact Constant mortgage royalties ($M) Y/Y Impact Currency − Card & Banking +5% − Consumer Lending +13% Revenue $975 14% – – 14% − Auto +11% Financial Services 50
Slide 12: International first quarter 2026 highlights
International first quarter 2026 highlights Organic Reported Reported Inorganic FX Impact Constant ($M) Y/Y Impact Currency • U.K. +7% healthy banking Revenue $274 13% 3% 10% 0% and FinTech volumes Canada 43 14% 5% – 9% • Canada +9% broad-based growth in banking, FinTech, Latin America 54 64% 8% 56%
Slide 13: Natural de-levering and accretive capital deployment
Natural de-levering and accretive capital deployment Strong balance sheet Shareholder-friendly capital allocation2 Leverage Ratio1 Q1 capital deployment • Acquisitions: ~$660 million for incremental ~68% Mexico ownership of Trans Union de Mexico adds <0.3x 3.8x • Share repurchases: $25 million year-
Slide 14: Second quarter 2026 guidance
Second quarter 2026 guidance Reported Revenue: $1,271M to $1,283M +12% to +13% M&A contribution: ~4pt. benefit • Mortgage expected to grow FX contribution: Immaterial 30%+ or 10%+ excluding FICO mortgage royalty, Organic Constant Currency Revenue: +8% to +9% compared to mid-single digit inquiry decl
Slide 15: Full-year 2026 revenue guidance
Full-year 2026 revenue guidance Reported Revenue: $5.100B to $5.135B +11% to 12% M&A contribution: ~3.5pt. benefit • Guidance maintains prudent conservatism: FX contribution: Immaterial – Maintaining organic growth Organic Constant Currency Revenue: +8% to +9% assumptions – balancing Q1 strength aga
Slide 16: Full-year 2026 Adjusted EBITDA, Adjusted Diluted EPS and other guidance
Full-year 2026 Adjusted EBITDA, Adjusted Diluted EPS and other guidance Adjusted EBITDA: $1.796B to $1.816B +9% to +10% • (80)bps to (60)bps of Adjusted EBITDA margin contraction FX contribution: Immaterial includes: Adjusted EBITDA margin: 35.2% to 35.4% – +50-70bps underlying margin expansion (unc
Slide 17: Bridge to updated FY 2026 guidance
Bridge to updated FY 2026 guidance (based on high-end) +9% +9% organic CC organic CC 169 (15) • Organic constant currency assumptions unchanged Revenue 5,135 ($ million) 4,981 • Expect good growth from TransUnion de Mexico following double-digit growth in 2024 and 2025 Feb guide Acquisitions* FX Apr
Slide 18: Attractive medium-term financial framework
Attractive medium-term financial framework High-single digit ~50 basis points Low-to-mid teens Organic revenue growth Adjusted EBITDA expansion Adjusted Diluted EPS growth Diversified across solutions, Expand margins while Includes benefit from verticals and geographies investing for growth accelera
Slide 19: Our next era of scalable growth and compounding cash flow
Our next era of scalable growth and compounding cash flow Growth Industry-leading investments Balance sheet Innovation-led optimization Value Shareholder Creation Durable return Technology Operating model AI productivity modernization optimization © 2026 TransUnion, its subsidiaries and/or affiliate
Slide 20: Advancing VantageScore 4.0 to foster a competitive mortgage credit scoring ecosystem
Advancing VantageScore 4.0 to foster a competitive and innovative mortgage credit scoring ecosystem Key milestones for TransUnion committed to Delivering value across the VantageScore adoption driving adoption mortgage ecosystem • Fannie Mae and Freddie Mac • Industry’s first 99-cent • Reduced costs
Slide 21: Delivered robust Q1 with +11% organic constant currency
Delivered robust Q1 Expecting a strong AI continues to drive with +11% organic 2026 with +8% to growth, with constant currency +9% organic constant increased demand for revenue growth and currency revenue our data and +12% Adjusted Diluted growth and +9% to accelerated EPS growth +11% Adjusted innov
Slide 22: Q&A
Q&A © 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 22
Slide 23: Appendices and Non-GAAP Reconciliations
Appendices and Non-GAAP Reconciliations
Slide 24: Mortgage Assumptions
Mortgage Assumptions Expect to deliver underlying mortgage growth in 2026 Strong and broad-based revenue growth Mortgage assumptions • Revenue growth of 6% excluding FICO royalty ~70bps cost, of underlying margin expansion ~$750M compared to inquiries down mid-single digit – driven by pricing on cor
Slide 25: Mortgage Assumptions
Mortgage Assumptions Strong revenue growth and margin expansion expected excluding FICO no-margin mortgage royalty Consistent underlying Strong and broad-based revenue growth Adjusted EBITDA margin expansion +70bps of underlying expansion; Organic constant currency revenue growth Growth ex FICO mort
Slide 26: Mortgage Assumptions
Mortgage Assumptions Significant earnings potential from mortgage recovery Sizable mortgage profit Significant refinancing Earnings potential from a despite depressed volumes opportunity if rates fall mortgage recovery Industry Mortgage Distribution of mortgages (in • Every 10% increase in mortgage
Slide 27: Debt profile and 2026F interest expense bridge
Debt / Interest Expense Debt profile and 2026F interest expense bridge Debt Profile (3/31/26) 2026F Net Interest Expense Bridge Notional ~($9M) Expiry Rate ($B) ~($22M) Revolver & Term Loan Tranche ~($17M) $5M Revolver 0.5 Jun’29 SOFR + 1.25% Term Loan A-4 1.2 Jun’29 SOFR + 1.25% ~$245M Term Loan B-
Slide 28: Revenue by Solution Family (FY 2025)
Business Mix Details Revenue by Solution Family (FY 2025) U.S. Markets ($3.6 billion) International ($1.0 billion) Total Company ($4.6 billion) Other Other Marketing 2% 2% Fraud 2% 15% Fraud Fraud 16% 17% + Consumer = Marketing Marketing 13% 12% 11% Credit Credit 52% 56% Credit Consumer 71% 15% Cons
Slide 29: U.S. Markets revenue composition (FY 2025)
Business Mix Details U.S. Markets revenue composition (FY 2025) Financial Services (~$1.7 billion) Emerging Verticals (~$1.3 billion) Consumer Interactive (~$0.6 billion) Collections 5% Public Sector Tenant & 4% Employment Auto Card & Screening 17% Banking 6% Direct Insurance 27% 27% 29% Media 15% M
Slide 30: Positioned to deliver innovation-led and scalable growth
TransUnion – Investment Highlights Positioned to deliver innovation-led and scalable growth 1 2 3 4 5 Foundational Interrelated Credit, Accelerated AI is an Compelling and differentiation – Marketing, Fraud innovation and accelerant, compounding proprietary data, and Consumer scalable growth enhanci
Slide 31: Strong free cash flow and increased capacity for capital deployment
Capital Allocation Strong free cash flow and increased capacity for capital deployment Strong Free Cash Flow Optimized Balance Sheet Free cash flow as a percentage of ~$3 billion of Leverage Ratio Adjusted Net Income ~100% 90%+ 3.5x free cash flow + 2.6x <2.5x expected from ~60% 2026 to 2028 2019-20
Slide 32: Accelerated capital deployment supporting low-to-mid teens Adjusted Diluted EPS growth
Capital Allocation Accelerated capital deployment supporting low-to-mid teens Adjusted Diluted EPS growth ~$3B free cash flow expected Category Objective from 2026-2028 Shareholder • 10%-15% dividend payout ratio Increasing ~$1.1B bias going ~$1.0B returns • Repurchase shares forward ~$0.9B Balance
Slide 33: M&A approach aligned to growth strategy
Capital Allocation M&A approach aligned to growth strategy Strategic Focus for M&A Financial Considerations M&A is an important strategic tool, but M&A evaluated against all alternatives to strength of portfolio creates a high bar maximize long-term free cash flow per share • Transformation supports
Slide 34: Strong growth algorithm with sources of upside
Illustrative Financial Framework Strong growth algorithm with sources of upside Illustrative 2028F Adjusted Diluted EPS financial Upside not contemplated in $7.00+ framework assuming mortgage recovery “mortgage recovery” scenario $7.00+ Normalization of non-mortgage with mortgage recovery lending vo
Slide 35: Adjusted EBITDA and Adjusted EBITDA Margin
Adjusted EBITDA and Adjusted EBITDA Margin © 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 35
Slide 36: Adjusted Net Income and Adjusted Diluted EPS
Adjusted Net Income and Adjusted Diluted EPS © 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 36
Slide 37: Adjusted Effective Tax Rate
Adjusted Effective Tax Rate © 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 37
Slide 38: Leverage Ratio
Leverage Ratio © 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 38
Slide 39: 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. Consists of amortization of intangible assets from our 2012 change-in-control transaction and amortization of intangible assets established in business acquisit
Slide 40: Non-GAAP Adjustment Footnotes
Non-GAAP Adjustment Footnotes 4. Operating model optimization consisted of the following adjustments: 5. Net other consisted of the following adjustments: 6. Consolidated Adjusted EBITDA margin is calculated by dividing Consolidated Adjusted EBITDA by total revenue. 7. Total adjustments for income t
Slide 41: 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