Slide 1: Investor Presentation Second Quarter 2026
Investor Presentation Second Quarter 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains statements as to our beliefs and expectations of the outcome of future events that are "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform
Slide 3: CoreCivic Operates at the Intersection of Government and Real Estate Infrastructure
CoreCivic Operates at the Intersection of Government and Real Estate Infrastructure Company Overview • Diversified government-solutions company with the scale and differentiated expertise to solve the tough challenges that governments face in flexible, cost-effective ways • We provide a broad range
Slide 4: Largest Private Owner of Real Estate Utilized by Government Agencies
Largest Private Owner of Real Estate Utilized by Government Agencies Manage 15.8 million(1) square feet of real estate used by government RESIDENTIAL • 92.4% of NOI for the quarter ended June 30, 2026 • 14.3 million(1) square feet • 64 total facilities, including 67,785 correctional/detention beds a
Slide 5: Delivering Complementary Services to the Corrections Industry
Delivering Complementary Services to the Corrections Industry SERVICES ➢ 6.1% of NOI for the quarter ended June 30, 2026 ➢ Clinical Solutions Pharmacy (CSP) • CSP is one of the largest correctional mail order Rx providers, including correctional facilities owned or operated by CoreCivic, across 32 s
Slide 6: Clinical Solutions Pharmacy (CSP) - Acquisition Profile
Clinical Solutions Pharmacy (CSP) - Acquisition Profile • Acquired CSP on April 1, 2026 • Initial purchase price of ~$148.0M, exclusive of transaction- related expenses, funded entirely with existing liquidity • Acquired at a multiple lower than recent CXW stock trading levels • Immediately accretiv
Slide 7: Industry Market Share
Industry Market Share(1) • The private corrections industry cares for less than 8% of the nation's prison population • CoreCivic is the largest non-government owner of correctional and detention real estate in the United States ➢ We own approximately 53% of all privately owned correctional and deten
Slide 8: Occupancy Recovery Is Driving Significant Earnings Growth
Occupancy Recovery Is Driving Significant Earnings Growth • The COVID-19 pandemic had a significant impact on our occupancy and cash flows. • Facility occupancy has been rising steadily since the end of the COVID-19 pandemic. ICE utilization, along with new COVID-19 Impact Period state contracts, dr
Slide 9: SW Border Encounters Flat, While ICE Detention Seeing Recent Upturn
SW Border Encounters Flat, While ICE Detention Seeing Recent Upturn • After hitting multi-decade highs during the federal fiscal years 2021-2024, apprehension rates along the US Southwest border began to slow in F2025 and continues through 3Q26 due to enhanced enforcement and deterrence, particularl
Slide 10: ICE Demand Leads to Facility Activations in 2025 / 2026
ICE Demand Leads to Facility Activations in 2025 / 2026 Estimate d De sign Annual Re ve nue Facility Capacity (in thousands) Dilley Immigration Processing Center 2,400 $ 180,000 West Tennessee Detention Facility 600 30,000 Midwest Regional Reception Center(1) 1,033 60,000 California City Detention F
Slide 11: Facility Utilization – Capacity to Meet ICE Needs
Facility Utilization – Capacity to Meet ICE Needs In July 2025, ~$45B was approved for ICE detention capacity under the One Big Beautiful Bill Act, the highest ever approved, and is intended to fund ~100,000 detention beds. If utilized, ICE will need more than ~30,000 additional detention beds. Desi
Slide 12: Private Sector Advantages vs "Alternative" Beds
Private Sector Advantages vs "Alternative" Beds To boost total available detention beds, accelerate deportation initiatives and explore cost savings, the current administration has considered non-traditional detention options outside of the private sector. This pool of "alternative" beds included: m
Slide 13: Turn-Key Facility Sales To The U.S. Federal Government
Turn-Key Facility Sales To The U.S. Federal Government While the current administration has considered a pool of "alternative" beds to meet their detention needs, we believe the acquisition of turn-key facilities, as initially discussed in the fall of 2025, presented a more seamless and readily avai
Slide 14: Our Real Estate Portfolio is Valuable
Our Real Estate Portfolio is Valuable Number of Beds in CoreCivic Residential 67,785 Less: Leased Facilities in Residential Segment Dilley Immigration Processing Center 2,400 Elizabeth Detention Center 300 Less: Managed Only Citrus County Detention Facility 760 Lake City Correctional Facility 893 To
Slide 15: Active Share Repurchase Plan & History of Returning Capital to Shareholders
Active Share Repurchase Plan & History of Returning Capital to Shareholders • As a REIT: − 2013-2020: We returned $1.6 billion through quarterly dividends • 2021: − Debt reduction strategy positioned the company to once again return STOCK BUYBACKS, DIVIDENDS AND TTM LEVERAGE ($MM) capital to shareho
Slide 16: Accelerated Share Repurchase Program (ASR)
Accelerated Share Repurchase Program (ASR) • On August 7th, 2026, we entered into an accelerated share repurchase agreement (the “ASR Agreement”) to repurchase $500 million of our common stock. • On August 10th, 2026, we paid $500 million and took delivery of approximately 12.4 million shares, equal
Slide 17: Transforming the Balance Sheet – Impact of Four Facility Sales & ASR
Transforming the Balance Sheet – Impact of Four Facility Sales & ASR Pro Forma Capitalization Pro Forma Leverage Metrics Post As of June Quarter Transaction 2.85x 0.05x ($ in Millions) 30, 2026(1) Adj.(4) Adj. Pro Forma(2) Q2’26 Net Debt-to-Adjusted EBITDA(3) PF Net Debt-to-Adjusted EBITDA(3) Equity
Slide 18: Value Proposition Has Strengthened
Value Proposition Has Strengthened • Despite the value creation through asset sales, stock repurchases (including the ASR), and new contract awards, the EV/EBITDA multiple is trading near 20-year lows. • On a P/E basis, we believe revenue growth coupled with a declining share count due to recently a
Slide 19: Extensive History of Durable Earnings and Cash Flows
Extensive History of Durable Earnings and Cash Flows • Long term stable cash flows from Adjusted EBITDA ($ in millions)(1) government partners due to essential, 40% mission critical infrastructure and valued $500 35% $444 services $441 $437 $427 $423 $418 $415 $405 $398 $396 $402 30% $400 $381 $386
Slide 20: Current Financial Performance
Current Financial Performance June 30, March 31, December 31, September 30, June 30, For the quarter ended 2026 2026 2025 2025 2025 Net Income $37.1MM $37.9MM $26.5MM $26.3MM $38.5MM Diluted EPS $0.37 $0.38 $0.26 $0.24 $0.35 Adjusted Diluted EPS(1) $0.38 $0.40 $0.27 $0.24 $0.36 Normalized FFO Per Sh
Slide 21: 2026 Guidance
2026 Guidance (in thousands, except per share amounts) Guidance Range • Guidance Points of Note: For the Year Ending December 31, 2026 • Accounts for recently announced $500 Low End of High End of million Accelerated Share Repurchase Guidance Guidance Agreement ("ASR") Net income $ 1,492,035 $ 1,511
Slide 22: Why CoreCivic
Why CoreCivic Compelling Investment Opportunity… • Largest private owner of correctional real estate Market Leader with Critical Infrastructure in Market with • Overcrowding, understaffing, obsolescence and inadequate capacity at public facilities drive private market need High Entry Barriers • Sign
Slide 23: Corporate Responsibility Reporting
Corporate Responsibility Reporting
Slide 24: Unprecedented Commitment to Corporate Responsibility within the Corrections Industry
Unprecedented Commitment to Corporate Responsibility within the Corrections Industry • CoreCivic released the Company’s eighth Corporate Responsibility Report in April 2026, demonstrating the continued commitment to transparency and accountability and providing more robust disclosures to show how th
Slide 25: Company's Mission Benefits All Stakeholders
Company's Mission Benefits All Stakeholders Holistic Approach Toward Preparing Inmates for Successful Reentry… More Humane Conditions Focus on Rehabilitation & Reentry • Reduced Overcrowding • Ban the Box • Modern Real Estate Amenities / Facility Design • Education & Vocational Training • Improved M
Slide 26: Human Rights – CoreCivic's Approach and Goals
Human Rights – CoreCivic's Approach and Goals Human rights are foundational in all that we do, therefore the salient rights of residents and employees are considered throughout our corporate strategies. We recognize the inherent dignity of every person and the benefits of promoting a culture of indi
Slide 27: CoreCivic's Quality Assurance and Government Oversight
CoreCivic's Quality Assurance and Government Oversight Over 1,000 on-site contract monitors and government c partner employees have continuous oversight of our facilities to help ensure compliance 26
Slide 28: CoreCivic's Quality Assurance and Government Oversight
CoreCivic's Quality Assurance and Government Oversight American Correctional Association ("ACA") • CoreCivic Safety facilities that maintain ACA accreditation undergo audits by independent auditors trained and assigned by the ACA on a three-year cycle. • ACA audits review all facets of correctional
Slide 29: CoreCivic's Health Services – Care Delivery
CoreCivic's Health Services – Care Delivery • Whether CoreCivic directly provides health services or coordinates with partner agencies and third-party providers, we are committed to providing quality care in line with correctional health standards set by organizations like National Commission on Cor
Slide 30: Highly Qualified, Proven Management Team
Highly Qualified, Proven Management Team Patrick Swindle David Garfinkle Tony Grande Chief Executive Officer and President EVP and Chief Financial Officer EVP and Chief Development Officer • Transitioned to CEO on January 1, 2026 • Began at CoreCivic in 2001 • Began at CoreCivic in 2003 • Began at C
Slide 31: Appendix
& coreCivic Appendix
Slide 32: Reconciliation to Adjusted Diluted EPS
Reconciliation to Adjusted Diluted EPS For the Three For the Three For the Three For the Three For the Three Months Ended Months Ended Months Ended Months Ended Months Ended Period June 30, March 31, December 31, September 30, June 30, ($ in thousands, except per share amounts) 2026 2026 2025 2025 2
Slide 33: Calculation of FFO, Normalized FFO and AFFO
Calculation of FFO, Normalized FFO and AFFO For the Three For the Three For the Three For the Three For the Three Months Ended Months Ended Months Ended Months Ended Months Ended Period June 30, March 31, December 31, September 30, June 30, ($ in thousands, except per share amounts) 2026 2026 2025 2
Slide 34: Calculation of NOI and Segment NOI
Calculation of NOI and Segment NOI For the Three For the Three For the Three For the Three For the Three Months Ended Months Ended Months Ended Months Ended Months Ended Period June 30, March 31, December 31, September 30, June 30, ($ in thousands, except per share amounts) 2026 2026 2025 2025 2025
Slide 35: Calculation of EBITDA and Adjusted EBITDA
Calculation of EBITDA and Adjusted EBITDA For the Three For the Three For the Three For the Three For the Three Months Ended Months Ended Months Ended Months Ended Months Ended Period June 30, March 31, December 31, September 30, June 30, ($ in thousands, except per share amounts) 2026 2026 2025 202