Onterris, Inc. · NYSE:ONT
Onterris — Montrose Environmental Group — Investor Presentation (September 2025)
35 slides from Onterris's investor presentation, September 2025
Slide 1: Investor Presentation September 2025
September Investor Presentation September 2025
Slide 2: Disclosures
Disclosures Safe Harbor substitute, Montrose's financial information presented in accordance with GAAP. The non-GAAP measures as defined by Montrose may not be comparable to Statements contained herein and in the accompanying oral presentation contain similar non-GAAP measures presented by other com
Slide 3: Montrose is a Pure-Play Environmental Science & Technology Company
Montrose is a Pure-Play Environmental Science & Technology Company For Planet and Progress – On a Mission to Protect the Air We Breathe, the Water We Drink & the Soil that Feeds Us Unwavering commitment Integrated Platform: to safety, innovation and CONSULTING | TESTING | TREATMENT excellence Tech-E
Slide 4: Positioned To Grow
Positioned To Grow Global Market Unique $1.8T With Structural Demand Drivers Integrated Model • $1.8T global environmental industry1 • Consulting + Testing + Treatment integration supports scalability and • $650B+ addressable environmental cross-selling upside services market1 • Clients prefer integ
Slide 5: Innovation Edge Supports Shareholder Value Proposition
Innovation Edge Supports Shareholder Value Proposition Differentiated by Technology Delivering Shareholder Value Strong historical performance • Since 2019, 24% revenue CAGR2, 13% average organic revenue growth3, and 25% Consolidated Adj. EBITDA CAGR2 Confident outlook • Continued focus on 7-9% annu
Slide 6: Global Market, Structural Drivers
Global Market, Structural Drivers
Slide 7: Durable Business Model
Durable Business Model Diversified Customer Base & End Markets Strong Client Retention Drives Recurring Revenue 2024 Top Customer Revenue by End Market1 • Percentage of recurring revenue1 has increased Renewable • Expect continued, stable recurring revenue1 Energy Chemicals 3% 3% Other 4% Technical
Slide 8: Environmental Services Tailwinds
Environmental Services Tailwinds + Demand for consulting & testing & Energy development & industrial activity remediation services + Demand for consulting (permitting & Power, infrastructure & defense spending compliance), testing, and treatment services + Demand for environmental emergency Industri
Slide 9: Unique Integration Model Supports Scalability
Unique Integration Model Supports Scalability
Slide 10: Unique Integration Model: The Montrose Flywheel
Assessment Permitting & Response Measurement & Analysis Remediation & Reuse Unique Water Treatment Integration Technology Model: Environmental The Montrose Consulting Laboratory Analysis Flywheel Montrose fills a gap in the market — as few Environmental firms provide Air Quality Compliance integrate
Slide 11: Integrated Offerings Support Strong Organic Growth Outlook
Integrated Offerings Support Strong Organic Growth Outlook Integrated Environmental Solutions Survey Differentiated by design Driven by intentional leadership, dedicated sector leads, key A third-party study1 of 500+ companies indicated account program, employee incentive programs, operating that th
Slide 12: The Montrose Flywheel: A Landfill Remediation Case Study
The Montrose Flywheel: A Landfill Remediation Case Study Bringing Value to Our Clients Through Integrated Services It all started with …strategic expansion of Montrose's services, starting an air quality study… with testing and adding services over time, increasing overall client share of wallet Air
Slide 13: Energy Case Study: Building Scalable, Long-Term Relationship
Energy Case Study: Building Scalable, Long-Term Relationship Bringing Value to Our Clients Through Integrated Services A long-standing …that scaled into a strategic, multi-touchpoint relationship further relationship. This case study illustrates how expands with a site- Montrose’s integrated model u
Slide 14: Differentiated by Technology
Differentiated by Technology
Slide 15: Our Approach to Innovation
Our Approach to Innovation Remediation & Reuse Our Sustainable Innovation Strategy Targets Technology Applications Driven by client needs Delivering superior efficacy & compelling lifecycle cost Biosolids Groundwater Surface Drinking Achieving genuine technology innovation Water Water The Team Dedic
Slide 16: Across the R&D Continuum: Tying research to commercialization
Across the R&D Continuum: Tying research to commercialization Remediation & Reuse Explore Commercialize Optimize Respond Tracking tomorrow’s From concept to Incorporating know- Leveraging expertise challenges today commercialization how into continuous for immediate needs improvement Solutions are q
Slide 17: Patented FOAM-X for landfill leachate
Patented Remediation & Reuse Client Challenge Landfill operators face increasing challenges from leachate contamination. These persistent chemicals are difficult to capture from leachate, and upcoming EPA regulations classifying PFAS as hazardous substances will add further compliance pressures. App
Slide 18: Patented NanoSORB for PFAS
Patented Remediation & Reuse Client Challenge Conventional wastewater treatment facilities do not effectively remove PFAS, leaving it in the treated water. Traditional materials like Granular Activated Carbon are less effective and lose adsorption capacity quickly. Captured PFAS also contaminates sl
Slide 19: SORBIX single-use ion exchange resin
Single-Use Ion Exchange (IEX) Resin Remediation & Reuse Client Challenge PFAS are extremely resistant to breakdown and are difficult to capture using traditional treatment methods, posing significant health and environmental risks. Applications Contamination is widespread in both groundwater and sur
Slide 20: Patented Regenerable Ion Exchange Resin
Patented Regenerable Ion Exchange (IEX) Resin Remediation & Reuse Client Challenge PFAS are highly resistant to breakdown and are difficult to capture using traditional treatment methods, posing significant health and environmental risks. Contamination is widespread in groundwater and surface water,
Slide 21: Innovation Bolsters Organic Growth and Creates Barrier to Entry
Differentiated by Technology: Innovation Bolsters Organic Measurement & Analysis Growth and Creates Barrier to Entry Real-Time Monitoring and Software Innovation Core To Our Future The scale, complexity and regulatory requirements of the environmental contamination challenges today require real-time
Slide 22: Shareholder Value Creation
» Shareholder Value Creation
Slide 23: Demonstrated Growth and Resiliency During a Decade of Dynamic Change
Demonstrated Growth and Resiliency During a Decade of Dynamic Change Significant Growth During Changing Political Landscape ($ in millions) $795-$835 Revenue $696 Consolidated Adj. EBITDA $624 $546 $544 $111-$117 $96 $328 $73 $79 $66 $234 $52 $30 2019 2020 2021 2022 2023 2024 2025E Trump 1st Trump A
Slide 24: Six Months Ahead of Plan: Delivering on Strategic Financial Priorities
Six Months Ahead of Plan: Delivering on Strategic Financial Priorities 1. Prioritize balance sheet simplification, redeem Series A-2 prior to YE25, and subsequently de-lever <3.0x ü Remaining $122M Series A-2 Preferred Stock (Series A-2) - fully redeemed six months early ü Committed to fund redempti
Slide 25: Enhancing Profitability – Road to Margin Improvement Across Segments
Enhancing Profitability – Road to Margin Improvement Across Segments Assessment Permitting Measurement & Analysis Segment Remediation & Reuse Segment & Response Segment Target Long-Term Margins: Target Long-Term Margins: Target Long-Term Margins: 20% to 25% 18% to 22% 20% to 25% Segment Revenue Mix
Slide 26: Full-Year 2025 Guidance Strengthened
Full-Year 2025 Guidance Strengthened 2025 Revenue range of $795M to $835M, 2025 Consolidated Adjusted EBITDA3 range from $735M to $785M of $111M to $117M, from $103M to $110M • Strong broad-based demand outlook, more tailwinds • Expect year-over-year expansion in Consolidated than headwinds, particu
Slide 27: Investment Highlights
Investment Highlights Uniquely integrated across Global scale and diverse recurring environmental consulting, testing, and customer base supports cross- treatment science selling upside Large TAM and secular tailwinds Strong organic growth coupled backed by regulatory and corporate with opportunisti
Slide 28: Segments Section
») ps » Segments al Section
Slide 29: Assessment, Permitting & Response Segment
Assessment, Permitting & Response Segment 2024 Revenue % of Montrose’s 31% Identify Total Revenue Key Capabilities Highlights 2024 Long Term Margin Margin Target • Environmental Assessments Annual responses 22% 20%-25% by premier • Environmental 200+ response brand Segment Revenue Revenue excludes E
Slide 30: Measurement & Analysis Segment
Measurement & Analysis Segment 2024 Revenue % of Montrose’s 32% Quantify Total Revenue Key Capabilities Highlights 2024 Long Term Margin Margin Target • Multi-Media Laboratory Services One of the largest North American pure- 23% 18%-22% play environmental • Data Solutions 1000+ field teams Segment R
Slide 31: Remediation & Reuse Segment
Remediation & Reuse Segment 2024 Revenue % of Montrose’s 37% Remediate Total Revenue Key Capabilities Highlights 2024 Long Term Margin Margin Target • Consulting, Patents issued 15% 20%-25% Engineering, Design, for proprietary & Implementation 30 innovations2 Segment Revenue Services 2020-2024 CAGR1
Slide 32: Appendix
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Slide 33: Non-GAAP Financial Information
Non-GAAP Financial Information In addition to our results under GAAP, in this presentation we also present certain These non-GAAP measures do, however, have certain limitations and should not be other supplemental financial measures of financial performance that are not required considered as an alt
Slide 34: Non-GAAP Financial Information (Continued)
Non-GAAP Financial Information (Continued) This presentation also includes Adjusted Operating Cash Flow, a non-GAAP measure In a given reporting period, when we refer to revenue changes driven by acquisitions, which represents cash flow provided by (used in) operating activities less amounts we are
Slide 35: Reconciliation of Net Income to Consolidated Adjusted EBITDA
Montrose Environmental Group, Inc. Reconciliation of Net Income to Consolidated Adjusted EBITDA *+,-./0-10&,-02303-4050670,-$(8 !"!# !"!$ !"!!%&D !"!(%&D !"!"%&D !"(F%&D !"#ABCDD .AAAAAAAAEF*+FFI- .AAAAAAAAEL0+*IN- .AAAAAAAAAAAELO+*ON- .AAAAAAAAAAAEFI+LFI- .AAAAAAAAAAAEIP+N4N- .AAAAAAAAAAAEFL+IIP- 5
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