Slide 1: 2025 Full Year Results March 2026
Enabled by Powered by 2025 Full Year Results March 2026
Slide 2: 2025 results video
2025 results video To view this video online please visit: https://capita.wistia.com/medias/xlxjteb8da 2
Slide 3: CEO Adolfo Hernandez
CEO Adolfo Hernandez 3
Slide 4: Disclaimer
Disclaimer This presentation and any oral information or accompanying materials provided in looking statements and/or forecasts contained in the Materials. No representation or connection with it (together, the “Materials”) have been prepared solely for informational warranty is made that any of the
Slide 5: Technology, Efficiencies, Delivery, Company
Technology Efficiencies Delivery Company Business Processes Growth Improved Clarity on what Workforce Delivering value to Innovation financial Capita is equipped for customers, employees for better performance famous for change and shareholders outcomes 5
Slide 6: 2025 Summary
2025 Summary Significant progress made in 2025, moving forward a stronger, simpler Capita • Launch of Capita AI • We have moved • Growing our • 300 AI agents live Catalyst Lab and over 60% of our presence with across Group; Catalyst Stack, delivering revenue to be significant increasing Technology e
Slide 7: Financial Review CFO Pablo Andres
Financial Review 2025 Performance All figures included within this presentation are on an adjusted basis unless otherwise stated CFO Pablo Andres 7
Slide 8: Financial highlights
Financial highlights £m 2025 2024 Change Significant improvement in profit Revenue 2,199.5 2,225.7 (1.2)% and cash Operating profit 113.5 84.6 34.2% Operating margin 5.2% 3.8% 140bps Good revenue growth in Public Service and Pension Solutions, offset by 17.5% decline in Contact Centre Profit before
Slide 9: Adjusted to reported reconciliation
Adjusted to reported reconciliation £m 2025 2024 Change Reported loss driven by business Adjusted profit before tax 74.5 40.5 34.0 exits and cost reduction programme Business exits (101.6) 180.4 (282.0) Business exits in 2025 primarily consists of closed book Life & Pensions including costs associat
Slide 10: Cash flow
Cash flow £m 2025 2024 Improved cash conversion EBITDA 188.0 169.0 Net of deferred income and CFA reflects continuing net unwind of Net of deferred income and CFA (46.6) (33.9) deferred income. 2025 reflects increased outflow within the Other working capital (including AR and AP) 15.8 (50.3) Pension
Slide 11: Cash flow and net debt movement
Cash flow and net debt movement £m 2025 2024 Improving operating and free cash flow Cash generated from operations excluding business exits 72.9 27.0 performance Net capital expenditure (46.2) (49.3) Capital expenditure reflects continued investment in our contract Interest/tax paid (41.1) (42.0) de
Slide 12: Liquidity & net debt
Liquidity & net debt £m 2025 2024 Strong liquidity position Revolving credit facility (RCF) 250.0 250.0 RCF extended in July to 31 December 2027 and amended to Less: drawing on committed facilities - - include a £50m accordion option, facility undrawn at year end £75m additional committed financing
Slide 13: Capita Public Service (66% of Group revenue)
Capita Public Service (66% of Group revenue) Strong growth in revenue, margin and cash £m 2025 2024 Change Revenue 1,450.0 1,387.2 4.5% Revenue Operating margin EBITDA and Operating profit 121.0 89.1 35.8% +4.5% +190bps cash conversion Benefit from Health Net benefit from the Strong cash conversion
Slide 14: Capita Public Service
Capita Public Service Key achievements in 2025… Execution Growth Delivery Efficiency Technology Won the Digital Total contract value (TCV) cNPS increased nine Worked with Several examples from Marketing Grand Prix won of nearly £1.2bn points to +37 Snowflake to unify Capita AI Catalyst Lab Award for
Slide 15: Capita Experience – Contact Centre (24% Group revenue)
Capita Experience – Contact Centre (24% Group revenue) Revenue reduction partially offset by £m 2025 2024 Change cost savings Revenue 536.7 650.9 (17.5)% Revenue Operating loss EBITDA and Operating loss (17.0) (5.9) (188.1)% (17.5)% £17.0m cash conversion Operating margin (3.2)% (0.9)% (230)bps Redu
Slide 16: Capita Experience – Pension Solutions (9% Group revenue)
Capita Experience – Pension Solutions (9% Group revenue) Increased digital investment in 2025 2024 £m Change Civil Service Pension Scheme Revenue 187.0 179.0 4.5% Revenue Operating profit EBITDA and Operating profit 29.9 28.1 6.4% +4.5% +30bps cash conversion Operating margin 16.0% 15.7% 30bps Benef
Slide 17: 2026 outlook
2026 outlook ▪ Group: low single digit revenue growth: ➢ Public Service: low to mid-single digit revenue growth driven by mobilisation of new contract wins partially offset by contract exits ➢ Contact Centre: mid to high-single digit revenue reduction reflecting continued contract losses, reduced vo
Slide 18: CEO Adolfo Hernandez
CEO Adolfo Hernandez 18
Slide 19: Building long term value for a BETTER Capita
Building long term value for a BETTER Capita Future Growth Future state operating model Done Ongoing Innovation & ways of working to launch and scale solutions Cost & EBITDA transformation to fund the journey Comprehensive cost out AI and Product organisation Developing a future Transform way BPO pr
Slide 20: Our strategy is to be the first AI-led business process outsourcer
Our strategy is to be the first AI-led business process outsourcer AI-enabled services as share of total European BPO market1 2025 2027 c.£50bn c.£55bn Significant c.£10bn AI driving disruption in public growth and private sectors c.£30bn in middle and c.£40bn back office c.£25bn Services not AI-ena
Slide 21: Capita's Competitive Advantage
Capita’s Competitive Advantage We don't build the engines; we pilot them We understand our customers’ process We orchestrate across silos and We deploy fully integrated teams with complexity and dependencies systems to deliver outcomes trusted domain + process expertise ...delivered with Human exper
Slide 22: Capita position as the Orchestrator to deliver managed outcomes
Capita position as the Orchestrator to deliver "managed outcomes" Deep understanding of BPO processes Delivering managed Highly trained AI proficient outcomes for customers professionals using global AI Proprietary data and data infrastructure about processes ~$280bn Applications Est. global rev for
Slide 23: Capita – the last mile partner for hyperscalers
Capita – the “last mile” partner for hyperscalers STRATEGIC THEMES PARTNER ACHIEVEMENTS Microsoft – “Capita is among the top AWS – Capita is the only EMEA Disciplined Execution 3% of Agentic Enterprises worldwide” BPO for AWS’ AI services launch Multi-year commercial agreements generating • Massive
Slide 24: Capita AI Catalyst Stack - Process First Agentification Engine
Capita AI Catalyst Stack - “Process First” Agentification Engine Integrated platform leveraging hyperscaler partners' technologies to automate business processes, combining process observability, rapid AI build and deployment, secure orchestration, and trusted data management. Users Contact Centres
Slide 25: AI Catalyst Lab: Our people driving rapid innovation
AI Catalyst Lab: Our people driving rapid innovation 12+ solutions delivered YTD, 400+ ideas, Select examples of Catalyst Lab engagements for 30+ propositions in validation and build phases AI-powered solutions: Fire Risk Assessment, assurance and compliance assessments driving innovation with clien
Slide 26: AI Agents in Capita
AI Agents in Capita In EVERY function and virtually EVERY type of customer 300+ 56 Majority of Pipeline 22,000 Over 2/3 of 2025 Active Agents Customer Deployed includes hours saved per week Revenue AI Enabled across the Group Agents AI Delivery AI-powered Case Management with Human in the Loop Assur
Slide 27: Value Creation of Capita's evolution to AI enabled BPO
Value Creation of Capita’s evolution to AI enabled BPO Agent AI New Capita: AI enabled BPO AI Agentic AI + Human Coordination = Traditional Capita Exponential Value BETTER Outcome-Based: Decoupled from FTE-Based: Revenue tied directly headcount; captures the full value of EFFICIENCIES Pricing model
Slide 28: Better Delivery: £750m TCV
Better Delivery Improved go to market strategy driving growth of order book, more wins and effectiveness Customer net Pipeline promoter score Growth Achievements 2025 wins opportunities for 2026 +31 points 2024: +28 points £750m TCV Total contract value secured by CPS in mid sized secured increased
Slide 29: Better Delivery Group revenue distribution 2025
Better Delivery Revenue well diversified on loyal customer base Public Service revenue distribution Group revenue distribution 2025 Other Top 10 contracts Top 10 contracts contracts Other contracts Pension Solutions revenue distribution Other Top 5 contracts contracts Within top 10 Broad based High
Slide 30: Better Delivery
Better Delivery Improving our customer sentiment supports future growth Key drivers: +40 38 37 38 Strengthened value +30 28 proposition and 27 offerings around +20 19 innovation and leverage of AI/Data solutions NPS +10 with hyperscalers Net Promoter -3 Renewed focus and -6 streamlined customer Scor
Slide 31: Civil Service Pension Scheme Recovery
Civil Service Pension Scheme Recovery Clearing backlog and expect to be back to normalised performance levels by end of June Service inherited in a distressed operational state; Capita assumed Joint recovery plan 86,000 implemented administration of Open cases ? prioritising cases with CSPS the Civi
Slide 32: Better Company
Better Company Responsible Business underpinned by refreshed values Our values: Customer first, always 1 We prioritise our customers in everything we 63% 260,000 do, working hard to exceed their expectations employee engagement hours colleague training with exceptional service (2024: 64%) completed
Slide 33: Strategic initiatives
Purpose Creating better outcomes Vision Capita - the leading AI enabled Business Process Outsourcer Unlocking Value Together Strategy Better Technology Better Efficiencies Better Delivery Better Company Strategic initiatives Technology and AI Operational Strategic Growth Financial Strength Responsib
Slide 34: Q&A
Q&A 34
Slide 35: Appendix
'Capita Appendix
Slide 36: 2026 modelling assumptions
2026 modelling assumptions Depreciation & amortisation Broadly in line with 2025. Total charge c.3.5% - 4% of revenue P&L interest Broadly in line with 2025 Working capital Broadly in line with 2025 Non-cash and other adjustments Reduction from 2026, reflecting non repeat of one-offs in 2025 Cash ta
Slide 37: Divisional overview
Divisional overview £m Public Service Contact Centre Pension Solutions Regulated Services plc Group 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 Revenue 1,450.0 1,387.2 536.7 650.9 187.0 179.0 25.8 8.6 - - 2,199.5 2,225.7 Operating 121.0 89.1 (17.0) (5.9) 29.9 28.1 5.4 1.3 (25.8) (28.
Slide 38: Capita Experience – Regulated Services (1% of Group revenue)
Capita Experience – Regulated Services (1% of Group revenue) £m 2025 2024 Change One remaining business, Mortgage Software, being managed for value Revenue 25.8 8.6 200.0% Revenue Operating profit EBITDA and cash Operating profit 5.4 1.3 315.4% +200.0% £5.4m conversion Operating margin 20.9% 15.1% 5
Slide 39: Revenue bridge by driver
| Revenue bridge by driver £m 2,300.0 2,250.0 2,200.0 2,150.0 2,100.0 2,050.0 2,000.0 1,950.0 1,900.0 1,850.0 1,800.0 1,750.0 1,700.0 1,650.0 1,600.0 372 2,225.7 (656) (168.6) (5.3) 4 2024 Telecommunications Losses Scope & volume Wins Indexation 2025 vertical 39
Slide 40: Order book bridge
Order book1 bridge Relevant to approximately 78% of revenue base Additions in 2025 include contract extensions with the BBC in Contact Centre, Education Authority Northern Ireland, Primary Care Support England, and expanded scope on the Royal Navy Training contract within Public Service, and extensi
Slide 41: Better Efficiencies: £250m cost savings achieved
Better Efficiencies £250m cost savings achieved by the end 2025 £185m £250m annualised cost savings £250m annualised savings now delivered now completed +140bps Savings continue to create space for £36m improvement in reinvestment in our operating margin in 2025 £15m £14m technology offerings Mainta
Slide 42: Deep understanding of customer's business processes
Deep understanding of customer’s business processes Strength in delivery across front/middle/back office Orchestration Front Middle Back Using strength in front office with Capita Public strong extension to middle and back Services office Delivering high value Pension administration and consulting S
Slide 43: Case Study: NORA and GRACE
Case Study: NORA and GRACE Two agents deployed in tandem to support frontline assessments and governance. Together, they reduced report time from 60 to 10 minutes while maintaining 97% compliance. NORA – Clinical Copilot GRACE – Governance & Review Agent • Supports c1,500 frontline staff with over 3
Slide 44: Case Study: SAFE Agent
Case Study: SAFE Agent Enabled 100% audit coverage and improved compliance across 6,000 annual FRAs. Saved up to 2,000 practitioner hours per year through automated checks and feedback. Problem Statement Solution • Inconsistent quality and variable outcomes in Fire Risk Assessments (FRAs). • AI-powe
Slide 45: Case Study: Procurement Agents
Case Study: Procurement Agents Delivered rapid first-line query resolution for inbound procurement requests, reducing turnaround time and improving service responsiveness. Absorbed significant demand from core teams, freeing capacity for strategic priorities and enhancing overall operational efficie
Slide 46: Glossary of terms
Glossary of terms Term Definition Book to bill This is the ratio of TCV sold in the year / external revenue Operating cash conversion Calculated as operating cash flow excluding business exits divided by adjusted EBITDA Win rate Win rate is the proportion by value of contracts won as a proportion of