Slide 1: Conference Call Presentation
Conference Call Presentation Q3-25 For the quarter ended June 30, 2025
Slide 2: Caution Regarding Forward Looking Statements
Caution Regarding Forward Looking Statements Certain information included in this document is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally ac
Slide 3: Q3-25 Highlights
Q3-25 Highlights We had a mixed quarter • Continued headwinds in ITCS • Double-digit growth in Defence solutions • Return to organic growth (excluding ITCS) • Substantial increase in signed backlog at +$640M • Arrival of Chris Pogue, President Defence & Space © 2024 Calian Group Ltd. 3
Slide 4: Update on Defence and Space Opportunity
Update on Defence and Space Opportunity Defence solutions = 50% of LTM consolidated revenues Annual Defence Revenues (in millions of $) 373 330 Highlights 271 228 236 • $1B of pipeline in Europe 185 • $250M HCPR contract increase • Merger of Advanced Tech & Learning • Chris Pogue appointed new Presi
Slide 5: Q3-25 Results
Q3-25 Results Excluding ITCS, the rest of business demonstrating robust growth Revenue Growth (Q3-25 vs Q3-24) ITCS Rest of business Consolidated Highlights 10% 9% • Rest of business is up 9% in revenues and 5% 4% 10% in adj. EBITDA 0% • ITCS impacted by: -5% ✓ Cybersecurity platform transition to M
Slide 6: Contract Signings and Backlog
Contract Signings and Backlog Increased backlog by $642M in Q3 New Contract Signings Backlog (in millions of $) (in billions of $) 1.5 1,044 1.3 1.3 1.3 1.2 1.2 785 >$1B 699 defence 580 554 447 2020 2021 2022 2023 2024 Q3-25 2020 2021 2022 2023 2024 YTD Q3-25 © 2024 Calian Group Ltd. 6
Slide 7: FY25 Q3 KPIs - Revenue & Adj. EBITDA
FY25 Q3 KPIs - Revenue & Adj. EBITDA Results were impacted by the underperformance of ITCS Adj. EBITDA1,2 & Margin1,2 Revenues (in millions of $, except margin) (in millions of $) 747 752 100 92 659 90 78 22.0% 582 69 70 80 518 Excluding ITCS, 70 56 17.0% 60 50 12.3% organic growth would have 11.9%
Slide 8: FY25 Q3 KPIs – Operating FCF & Capital Deployment
FY25 Q3 KPIs – Operating FCF & Capital Deployment Plan on repurchasing up to 6% of shares in FY25 Operating FCF1,2 & Conversion1,2 LTM Capital Deployment (in millions of $, except %) (in millions of $) 80 180% 72 160% 10 70 55 140% 54 54 60 120% 44 We have a strong pipeline of 50 39 100% 28 $90M pot
Slide 9: FY25 Q3 KPIs – Leverage and Cash Availability
FY25 Q3 KPIs – Leverage and Cash Availability ~$170M available to invest in growth Net Debt1,2/Adj. EBITDA1,2 Cash Availability (ratio) (in millions of $) <2.5x 207 217 200 198 172 Solid 1.1x 0.6x 0.6x 0.7x balance sheet 0.4x Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Unused credit
Slide 10: FY25 Q3 KPIs – Shareholder Value Creation
FY25 Q3 KPIs – Shareholder Value Creation We are yielding solid returns 13% Adj. EBITDA1,2/Diluted Share Yield OFCF1,2/Diluted Share Adj. EPS1,2/Diluted Share (in $) (in $) (in $) $7.68 9% $6.56 Yield $6.07 $5.98 $6.02 8% $5.28 Yield $4.84 $4.57 $4.54 $4.86 $4.15 $4.15 $3.86 $3.89 $3.81 2021 2022 20
Slide 11: Closing Remarks
Closing Remarks We are optimistic about our future prospects • Objective to grow double-digits through organic growth and acquisitions • Priorities: 1. Capitalize on Defence & Space portfolio 2. Revitalize the ITCS segment towards growth 3. Expedite our portfolio review 4. Use strong balance sheet t
Slide 12: Question Period
Question Period Kevin Ford Patrick Houston Jennifer CEO CFO McCaughey Director, Investor Relations © 2024 Calian Group Ltd. | 12
Slide 13: Appendix A – Reconciliation of Non-GAAP measures
Appendix A – Reconciliation of Non-GAAP measures © 2024 Calian Group Ltd. | 13
Slide 14: Reconciliation of Non-GAAP Measures – Adj. EBITDA
Reconciliation of Non-GAAP Measures – Adj. EBITDA Three months ended Nine months ended (in thousands of $) June 30, 2025 June 30, 20241 June 30, 2025 June 30, 20241 Net profit $590 $1,298 ($91) $11,748 Share based compensation 1,354 1,370 3,394 3,688 Restructuring expense 1,414 1 2,478 1,496 Depreci
Slide 15: Reconciliation of Non-GAAP Measures – Adj. Net Profit
Reconciliation of Non-GAAP Measures – Adj. Net Profit Three months ended Nine months ended (in thousands of $, except # shares and per share amounts) June 30, 2025 June 30, 20241 June 30, 2025 June 30, 20241 Net profit $590 $1,298 ($91) $11,748 Share based compensation 1,354 1,370 3,394 3,688 Restru
Slide 16: Reconciliation of Non-GAAP Measures – Operating FCF
Reconciliation of Non-GAAP Measures – Operating FCF Three months ended Nine months ended (in thousands of $, except per share amounts and %) June 30, 2025 June 30, 20241 June 30, 2025 June 30, 20241 Cash flows generated from operating activities (free cash flow) $24,786 $14,478 $39,028 $67,804 M&A c
Slide 17: Reconciliation of Non-GAAP Measures – Net Debt/Adj. EBITDA
Reconciliation of Non-GAAP Measures – Net Debt/Adj. EBITDA (in thousands of $, except ratio) June 30, 2025 June 30, 20241 Cash $58,013 $45,999 Debt facility 141,000 94,000 Net debt (net cash) 82,987 48,001 Trailing twelve month adjusted EBITDA 77,938 90,706 Net debt to adjusted EBITDA 1.1 0.5 1) Cer
Slide 18: Thank you
Thank you Jennifer McCaughey, CFA, F.CIRI Director, Investor Relations ir@calian.com