Crawford & Company · NYSE:CRD.A
Crawford & — Investor Presentation (June 2026)
39 slides from Crawford &'s investor presentation, June 2026
Slide 1: Investor Presentation
85 years of expertise. Built for what’s next. Investor Presentation Crawford & Company CRD-A & CRD-B (NYSE) Investor Presentation – June 2026
Slide 2: Forward-Looking Statements & Additional Information
Investor Presentation – June 2026 2 Forward-Looking Statements & Additional Information Forward-Looking Statements operate our business, but excludes unallocated corporate and shared costs and credits, net This presentation contains forward-looking statements, including statements about the corporat
Slide 3: Who we are
Investor Presentation – June 2026 3 Who we are Crawford is a leading global provider of claims management and outsourcing solutions to insurance companies and self‐insured entities. REVENUE BY MARKET* REVENUE BY REPORTING SEGMENT REVENUE BY GEOGRAPHY 57% ⎹ U.S. 14% ⎹ U.K. 60% ⎹ Carriers 23% ⎹ U.S. P
Slide 4: Global Reach – Trusted Partner
Investor Presentation – June 2026 4 Global Reach – Trusted Partner 10K+ EMPLOYEES 70+ COUNTRIES $20B+ CLAIMS ANUALLY MANAGED
Slide 5: Attractive Investment Profile
Investor Presentation – June 2026 5 Attractive Investment Profile Strong foundation with clear value-creation levers Global Product and Recurring Fee for Competitive Market Geographic Service Revenue Strong Cash Flow Position Diversification Model Generation Technology-Enabled Blue-Chip Global Solid
Slide 6: Our Strategy is to Take Profitable Market Share
Investor Presentation – June 2026 6 Our Strategy is to Take Profitable Market Share Overarching strategy is to gain profitable market share by delivering top quality, promptly – made possible by our unique combination of innovation and expertise ORGANIC Relentlessly QUALITY EXPERTISE DIGITAL leverag
Slide 7: Multiple Organic Growth Drivers Benefitting Crawford
Investor Presentation – June 2026 7 Multiple Organic Growth Drivers Benefitting Crawford Industry and organizational dynamics creating tailwinds for sustained revenue growth Increasing Streamlined Industry- Natural Complex claim complexity of U.S. operating leading disasters environment risk fueling
Slide 8: Our Capital Allocation Strategy
Investor Presentation – June 2026 8 Our Capital Allocation Strategy Committed to industry-leading financial strength and employing a disciplined approach to capital allocation Investing in long-term Strong liquidity Returning capital growth to shareholders Leverage ratio of 1.62x EBITDA Through Cap
Slide 9: M&A Overview
Investor Presentation – June 2026 9 M&A Overview Our M&A is aligned to the three pillars of our strategy Quality 1 • Enhance the quality value proposition • Usually in tandem with Digital or Expertise Complement primary organic growth Increase customer stickiness and Expertise deepen market share 2
Slide 10: Bringing it all together to drive long-term growth and shareholder value
Investor Presentation – June 2026 10 • Long-term revenue growth with diversified revenue streams Bringing it all together • Multiple growth drivers to drive long-term • Consistent profitability with strong cash flow growth and • shareholder value Technology-driven operational efficiency • Returning
Slide 11: Operational Update
Investor Presentation – June 2026 11 11 Operational Update
Slide 12: New Operating Structure and 1Q26 Revenue Contribution
Investor Presentation – June 2026 12 New Operating Structure and 1Q26 Revenue Contribution Effective January 1, 2026 U.S. Operations U.S. Property Broadspire International & Casualty Operations 23% 34% 43% U.S. Loss Adjusting • Claims Management • UK • Global Technical Services (GTS) • Medical Manag
Slide 13: U.S. Property & Casualty | U.S. Loss Adjusting
Investor Presentation – June 2026 13 U.S. Property & Casualty | U.S. Loss Adjusting Delivering technical expertise consistently at scale Volume 1HMajor 2023&GAAP Complex (Claims Solutions) (Global Technical Services) Create differentiation to gain market share by expanding expertise Drive differenti
Slide 14: U.S. Property & Casualty | Networks
Investor Presentation – June 2026 14 U.S. Property & Casualty | Networks Providing scalable claims support Contractor Connection Catastrophe Services Managed repair expertise leveraging people, Rapid response support for natural and man- process and technology to deliver speed of made catastrophe an
Slide 15: Broadspire
Investor Presentation – June 2026 15 Broadspire Client-centric integrated outsourced solutions powered by innovation and data science Clients Scope & Scale* Value Proposition • Corporations, municipalities • $1.0B+ Managed medical spend • Strengthen differentiation through product innovation, digiti
Slide 16: International Operations
Investor Presentation – June 2026 16 International Operations Sharing expertise and capabilities across geographies United Kingdom TPA and major & complex loss adjusting businesses driving Crawford Q1 2026 revenue by geographic region growth, with a focus on hiring experts in specialty areas Canada
Slide 17: Enhancing Adjuster Efficiency with AI
Investor Presentation – June 2026 17 Enhancing Adjuster Efficiency with AI Crawford integrates AI technology to streamline routine tasks, enabling adjusters to focus on complex, high-value claims while preserving the AI integration: essential expertise that only skilled professionals can provide tra
Slide 18: Financial Update
Investor Presentation – June 2026 18 18 Financial Update 1Q26 Results Investor Presentation – June 2026
Slide 19: Q1 2026 Highlights
Investor Presentation – June 2026 19 Q1 2026 Highlights YoY Revenue • 1Q26 revenue of $309.5M reflects continued trend of lower industry-wide property claims activity in the U.S. $312.0M $309.5M • Consolidated operating earnings decreased 23.2% YoY related to lower U.S. results and higher corporate
Slide 20: U.S. Property & Casualty 1Q26 Results
Investor Presentation – June 2026 20 • Revenue decreased 11.3% YoY 1Q26 Results • 1Q25 revenues included carryover claims from hurricanes Helene and Milton which did not U.S. Property repeat in 2026 & Casualty • Claims frequency across the industry tracking below historical levels • Operating earnin
Slide 21: Broadspire 1Q26 Results
Investor Presentation – June 2026 21 • YoY revenue increase of 1.0% reflecting the slow ramp of certain new client wins 1Q26 Results • Retention rate of 86% Broadspire • Operating earnings decreased by $1.1M, or 9.4% YoY reflecting planned hiring in advance of the start of new business $104.8 M $ 10
Slide 22: International Operations 1Q26 Results
Investor Presentation – June 2026 22 • Revenue increased 4.5% YoY but decreased on a constant currency basis by 1.7% due to foreign 1Q26 Results exchange fluctuations International • Operating earnings increased by $1.8M, or 80.0% Operations YoY, and operating margin increased by 120 bps • Performan
Slide 23: Weather Variability Can Impact Claims Activity
Investor Presentation – June 2026 23 Weather Variability Can Impact Claims Activity Q1 2026 saw lower claims activity vs Q1 2025, which included revenues from claims activity associated with hurricanes Milton and Helene U.S. Severe Storm Reports 1,2 Consolidated Weather-Related vs. Non-Weather-Relat
Slide 24: Appendix
Investor Presentation – June 2026 24 24 Appendix First Quarter 2026 Financial Results and Non-GAAP Financial Information Investor Presentation – June 2026
Slide 25: Q1 2026 Financial Summary
Investor Presentation – June 2026 25 Q1 2026 Financial Summary Quarter Ended Unaudited ($ in millions, except per share amounts) March 31, 2026 March 31, 2025 % Change Revenues $309.5 $312.0 (1)% Non-GAAP Revenues excluding foreign exchange fluctuations(1) $301.7 $312.0 (3)% Net Income Attributable
Slide 26: Balance Sheet Highlights
Investor Presentation – June 2026 26 Balance Sheet Highlights Unaudited ($ in thousands) Mar 31, 2026 Dec 31, 2025 Change Cash and cash equivalents $ 54,491 $ 64,079 $ (9,588) Accounts receivable, net 118,064 115,661 2,403 Unbilled revenues, net 142,759 126,960 15,799 Total receivables 260,823 242,6
Slide 27: U.S. Property & Casualty
Investor Presentation – June 2026 27 U.S. Property & Casualty Three months ended Unaudited (in thousands, except percentages) March 31, 2026 March 31, 2025 Variance Revenues $72,885 $82,190 (11.3)% Direct expenses 52,278 59,095 (11.5)% Gross profit 20,607 23,095 (10.8)% Indirect expenses 12,991 13,3
Slide 28: Broadspire
Investor Presentation – June 2026 28 Broadspire Three months ended Unaudited (in thousands, except percentages) March 31, 2026 March 31, 2025 Variance Revenues $104,758 $103,672 1.0% Direct expenses 73,406 71,027 3.3% Gross profit 31,352 32,645 (4.0)% Indirect expenses 20,496 20,668 (0.8)% Operating
Slide 29: International Operations
Investor Presentation – June 2026 29 International Operations Three months ended Unaudited (in thousands, except percentages) March 31, 2026 March 31, 2025 Variance Revenues $131,882 $126,170 4.5% Direct expenses 109,372 103,852 5.3% Gross profit 22,510 22,318 0.9% Indirect expenses 18,513 20,098 (7
Slide 30: Non-GAAP Financial Information
Investor Presentation – June 2026 30 Non-GAAP Financial Information Measurements of financial performance not calculated in accordance with GAAP should be considered as supplements to, and not substitutes for, performance measurements calculated or derived in accordance with GAAP. Any such measures
Slide 31: Non-GAAP Financial Information (cont.)
Investor Presentation – June 2026 31 Non-GAAP Financial Information (cont.) Segment and Consolidated Operating Earnings Operating earnings is the primary financial performance measure used by our senior management and chief operating decision maker to evaluate the financial performance of our Compan
Slide 32: Total Revenue Before Reimbursements by Major Currency
Investor Presentation – June 2026 32 Total Revenue Before Reimbursements by Major Currency The following table illustrates revenue as a percentage of total revenue in the major currencies of the geographic areas in which Crawford does business: Three Months Ended Unaudited (in thousands) March 31, 2
Slide 33: Reconciliation of Non-GAAP Item
Investor Presentation – June 2026 33 Reconciliation of Non-GAAP Item Revenues and Costs of Services Provided Quarter Ended Quarter Ended Unaudited ($ in thousands) March 31, 2026 March 31, 2025 Revenues Before Reimbursements Total Revenues $ 320,126 $ 323,339 Reimbursements (10,601) (11,307) Revenue
Slide 34: Reconciliation of Non-GAAP Items (cont.)
Investor Presentation – June 2026 34 Reconciliation of Non-GAAP Items (cont.) Operating Earnings Quarter Ended Quarter Ended March 31, 2026 March 31, 2025 Unaudited ($ in thousands) U.S. Property & Casualty $ 7,616 $ 9,780 Broadspire 10,856 11,977 International Operations 3,997 2,220 Unallocated cor
Slide 35: Reconciliation of Non-GAAP items (cont.)
Investor Presentation – June 2026 35 Reconciliation of Non-GAAP items (cont.) Adjusted EBITDA Quarter Ended Quarter Ended March 31, 2026 March 31, 2025 Unaudited ($ in thousands) Net Income Attributable to Shareholders of Crawford & Company $ 4,905 $ 6,684 Add: Depreciation and amortization 9,589 9,
Slide 36: Non-GAAP Financial Information (cont.)
Investor Presentation – June 2026 36 Non-GAAP Financial Information (cont.) Net Debt March 31, 2026 December 31, 2025 Unaudited ($ in thousands) Short-term borrowings $ 43,454 $ 38,454 Current installments of finance leases and other obligations 47 46 Long-term debt and finance leases, less current
Slide 37: Non-GAAP Financial Information (cont.)
Investor Presentation – June 2026 37 Non-GAAP Financial Information (cont.) Segment Gross Profit Three months ended Unaudited ($ in thousands) March 31, 2026 March 31, 2025 U.S. Property & Casualty $ 20,607 $ 23,095 Broadspire 31,352 32,645 International Operations 22,510 22,318 Segment gross profit
Slide 38: Reconciliation of First Quarter Non-GAAP Results
Investor Presentation – June 2026 38 Reconciliation of First Quarter Non-GAAP Results Three Months Ended March 31, 2026 Net Income Attributable to Crawford & Diluted Earnings Diluted Earnings Unaudited ($ in thousands) Pretax Earnings Company per CRD-A Share per CRD-B Share GAAP $ 7,287 $ 4,905 $ 0.
Slide 39: CRD-A & CRD-B (NYSE)
Investor Presentation – June 2026 39 CRD-A & CRD-B (NYSE)
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