Slide 1: 2Q 2021 Earnings Presentation
2Q 2021 Earnings Presentation NC ight, | Al 2021 August 12
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: Growth Strategy & Results
Growth Strategy & Results alight
Slide 4: The workforce is changing, and the future is all about the employee
The workforce is changing, and the future is all about the employee Healthcare Workforce Regulatory Affordability Total Wellbeing Mobility Globalization Compliance Healthcare 61% of workers 1 in 3 workers in 83% of companies 70+ updates deductibles growing cannot retire at alternative work are plann
Slide 5: Alight's mission-critical solutions enrich employee well-being
Alight’s mission-critical solutions enrich employee well-being, helping global organizations achieve a high-performance culture Help consumers Enable financial , Support Personalize P navigate the security and employers benefits healthcare wellness globally & payroll ecosystem {e) f the Source: Comp
Slide 6: Executing on our strategy
Executing on our strategy Results ahead of plan as technology transformation drives momentum * Revenue +2% y/y vs. guidance of -1% for the first half of 2021 * Total revenue +3.9% with BPaaS (Business Process as a Service) revenue +19.0% and Adjusted EBITDA +6.6% to $145M for the second quarter Laun
Slide 7: The Alight Worklife platform supports our integrated BPaaS offers
The Alight Worklife platform supports our integrated BPaaS offers... Business Process as a Service (BPaaS) combines SaaS capabilities and an automated service delivery model with data & Al. Our integrated engagement platform helps clients manage their total cost of people while improving outcomes fo
Slide 8: With a beautiful, intuitive desktop and mobile experience
... With a beautiful, intuitive desktop and mobile experience Employer view Employee view light see Gem Seen? enue Aesth Sone ache — Dashboard ~ Employee health Marat cptal management (70\ —_ > ‘Aight Cents: 61 People ike you can seve an annual ee +35% on medicol costs by finding Annual enrollment t
Slide 9: Accelerating BPaaS growth: New product tiers in Health drive better value
Accelerating BPaaS growth: New product tiers in Health drive better value and improved outcomes e uplift 2x revend ne ps Improved retention and * market share growth © Starting offer for most clients | Engaged BPaas: Personalized recommendations Comprehensive BPaas: Comprehensive BPaaS + digital Bro
Slide 10: One Alight: Updated Commercial approach supports new client wins
One Alight: Updated Commercial approach supports new client wins (sth Consolidated R&D and technology team to speed innovation and delivery Consolidated Go-to-Market team, added resources to better address customer needs eH Value engineering team working in partnership with clients to capture additi
Slide 11: Leveraging our platform and reach to accelerate growth
Leveraging our platform and reach to accelerate growth * Adding content and technology to Worklife to increase value delivered to clients o Will continue to build, buy and partner as needed * Buying and integrating assets is a core competency for our team o Pursuing M&A in a structured and disciplin
Slide 12: Financial Results & Outlook
Financial Results & Outlook alight
Slide 13: 2Q summary of consolidated results
2Q summary of consolidated results $ in millions 2Q21 2Q20 Revenue Total Revenue $672M $647M +3.9% Revenue ex-Hosted $661M $629M +5.1% BPaaS Revenue $94M $79M +19.0% Gross Profit $217M $187M +16.0% % margin 32.3% 28.9% +340 bps Adjusted EBITDA $145M $136M +6.6% % margin 21.6% 21.0% +60 bps Source: C
Slide 14: BPaaS continues to support strong bookings and revenue growth
BPaaS continues to support strong bookings and revenue growth TCV of Total Bookings ($M) TCV of BPaaS Bookings ($M) % of Revenue Under Contract $435M 90%+ 2) $240M fon) £ 60%+ x fe) fe} a 2Q21 2Q21 2021E Revenue 2022E Revenue (Projected) (Projected) SAtYE20 MAt Mid-2021 Source: Company financials (J
Slide 15: Employer Solutions benefits from recurring revenue and operating leverage
Employer Solutions benefits from recurring revenue and operating leverage Employer Solutions Employer Solutions Employer Solutions Revenue ($M) Gross Margin Adjusted EBITDA S| 3 ” 33.6% $540 $569 29.6% a Recurring Project 2Q20 2Q21 2Q20 2Q21 2Q20 2Q21 Source: Company financials (June 30, 2021).
Slide 16: Professional Services top-line trends improved in 2Q
Professional Services top-line trends improved in 2Q Professional Services Professional Services Professional Services Revenue ($M) Gross Profit Adjusted EBITDA $89 $92 Recurring $26 $26 Project |_| Zz 2Q20 2Q21 2Q20 2Q21 2Q20 2Q21 Source: Company financials (June 30, 2021).
Slide 17: Significant deleveraging and additional flexibility following de-SPAC
Significant deleveraging and additional flexibility following de-SPAC and public listing * Total debt reduced by $1.8 billion or more than 40% * Increases capacity to invest in organic and inorganic growth going forward ($¢ millions) 6/30/21 De-leveraging Pro Forma de-SPAC Term Loans $2,597 ($556) $
Slide 18: Strong momentum, raising FY21 revenue growth outlook
Strong momentum, raising FY21 revenue growth outlook FY 2021 Guidance ($ millions) Prior Updated Revenue Y/y Growth +1% +3-5% Adjusted EBITDA $600M $610-620M 18
Slide 19: Appendix
Appendix alight
Slide 20: Reconciliation of Net Loss to Adjusted EBITDA
Three Months Ended Six Months Ended June 30, June 30, (in millions) 2021 2020 2021 2020 Net Loss COMPANY TITLE TBD $ (4) $ (25) $ (25) $ (46) Interest expense 61 53 123 111 Reconciliation of Net Loss to Adjusted EBITDA Income tax benefit (2) (5) (5) (5) (Unaudited) Depreciation 25 23 49 42 Intangibl