Slide 1: Investor Day December 15, 2021
Investor Day December 15, 2021 Exhibit 99.2
Slide 2: Forward-looking information
2 These materials contain forward-looking information. Words such as "anticipate," "assume," "estimate," "expect," “target” "project," “model”, "predict," "intend," "plan," "believe," "potential," "may," "should,“ “vision” and similar expressions may identify forward-looking information. Forward-loo
Slide 3: About this document
This document includes historical context for and information about Brink’s strategic plan covering 2022–2024. It also includes graphics from Brink’s 2021 Investor Day video presentation and accompanying footnotes and reconciliations of Non-GAAP financial metrics. 3
Slide 4: Agenda
4 Agenda • Introduction and 2024 Financial Targets • Strategy 1.0 – Organic Growth and Operational Excellence • Strategy 2.0 – Digital Solutions – ATM Managed Services • Sustainability • Financial Review • Conclusion
Slide 5: Introduction and 2024 Financial Targets
Introduction and 2024 Financial Targets
Slide 6: Brink's Leadership Team
6 Brink’s Leadership Team *Investor Day Speaker Mark Eubanks* Executive Vice President & Chief Operating Officer Ron Domanico* Executive Vice President & Chief Financial Officer Mike Beech* Executive Vice President, President Latin America & Global Security David Dove* PAI Chief Executive Officer Do
Slide 7: The World's Largest Cash Management and Secure Logistics Company
7 Brink’s: The World’s Largest Cash Management and Secure Logistics Company 1. Metrics as of 9/30/21 53 countries Operational Strength1 1,300 facilities 16,300 vehicles 76,000+ employees How We Serve Customers Today We’re Transforming into a Digital Payments Company Cash-in-transit ATM replenishment
Slide 8: Global cash logistics market and segment positions
8 1. Publicly available company data for cash services businesses per latest company filing. Brink’s data represents pro-forma trailing-twelve-month financial results as of Third Quarter 2021 adjusted to include results for businesses acquired in 2020 and 2021 as if they were owned for the entire pe
Slide 9: Strong Positions in our Key Geographies
9 Brink's Loomis Other Brink's GSI Other Mexico France Brink's Prosegur Protege Other Brink's Garda Other Canada Brazil Brink's Prosegur Other Brink's Garda Other Cash Competitors Loomis United States Argentina Strong Positions in our Key Geographies Note: Internal estimates based on cash operations
Slide 10: Acquisitions Expanded Our Platform for Future Growth
10 Acquisitions Expanded Our Platform for Future Growth Invested $2.2 Billion in 17 Acquisitions Since 2017
Slide 11: Our New Strategic Plan Covers 2022 to 2024
11 Our New Strategic Plan Covers 2022 to 2024 Plan period starts in 2022 due to pandemic disruption • Tech-enabled cash solutions • Customer experience • High-value services 2017-2019 2020-2021 2022 2023 2024 • Digital cash payment solutions • Integrated payments solution • Go-to-market innovation T
Slide 12: A New Layer of Growth Upon a Strong Foundation
12 Our Strategic Plan – A New Layer of Growth Upon a Strong Foundation 2022 20242023 Digital solutions and ATM managed servicesStrategy 2.0 Organic growth and operational excellenceStrategy 1.0
Slide 13: 2024 Financial Targets
13 2024 Financial Targets (Non-GAAP, $ Millions except where noted) 1. Pro-forma excluding deferred 2020 payroll taxes paid in 2021. Note: See detailed reconciliations of non-GAAP to GAAP results in the Appendix. 2021 GUIDANCE 2024 TARGET CAGR Revenue $4.1-4.2B $5.3-5.5B 8-9% Incremental ~$1B Operat
Slide 14: Why We'll Succeed
Why We’ll Succeed • Proven ability to drive growth and profitability • Global cash usage remains strong • Well-positioned to capitalize on changing payments landscape 14
Slide 15: A Proven Management Team With Demonstrated Results
15 A Proven Management Team With Demonstrated Results 2017-2019 Strategic Plan results exceeded targets despite FX headwinds 1. SP1 Target as of 3/2/2017 Investor Day. Revenue target is FX adjusted. Note: See detailed reconciliations of non-GAAP to GAAP results in the Appendix. (Non-GAAP) TARGET1RES
Slide 16: Global Cash Usage Remains Strong
16 Cash Percentage of In-Person Payments (during the pandemic) Global Cash Usage Remains Strong 1. 2020 McKinsey Global Payments Report 2. U.S Census Bureau (2019-2020), eMarketer (2021-2025) 3. Federal Reserve 2021 Diary of Payment Choice Report 4. Brink’s internal estimates for cash used as a perc
Slide 17: Currency in Circulation Continues to Grow
17 Currency in Circulation Continues to Grow 1. U.S. currency in circulation through September 2021. Source: St. Louis Federal Reserve (FRED). Monthly Average Currency in Circulation (Billions of Dollars, Weekly, Not Seasonally Adjusted) 2. Euro currency in circulation through September 2021. Source
Slide 18: U.S. Lawmakers Recognize the Importance of Protecting Cash
18 U.S. Lawmakers Recognize the Importance of Protecting Cash as a Payment Method Local and federal lawmakers are pursuing legislation to ensure cash is accepted at all physical retail locations. The Payment Choice Act introduced by Representative Donald M. Payne Jr. (D-NJ, 10th District), has bipar
Slide 19: Changing Payments Landscape Offers Unique Opportunity for Digital Solutions
19 Changing Payments Landscape Offers Unique Opportunity for Digital Solutions Brink’s is making cash as easy to manage as other payments • Retailers already have a digital solution to accept cards, but lack a comparable solution for cash. • We are disrupting the cash management industry by providin
Slide 20: Transforming Brink's
20 Transforming Brink’s Our Opportunity Cash management is ripe for disruption as the payments landscape evolves How We Will Seize It We are combining operational excellence with innovation to grow our business and reinvent the customer experience
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Slide 22: Strategy 1.0: Organic growth and operational excellence
Strategy 1.0 Organic growth and operational excellence
Slide 23: Driving Organic Growth & Expanding Margins
23 Strategy 1.0 - Driving Organic Growth & Expanding Margins Highlights of our proven track record Since 2017, Brink’s has successfully executed strategic initiatives to: • Drive operational excellence and improve profitability • Restructure and right-size the business • Improve efficiency of capita
Slide 24: Acquisition Spotlight: G4S Cash Operations
24 Acquisition Spotlight: Majority of Cash Operations from G4S Purchased for $860M, expanded footprint primarily in Europe and Asia 1. Pro-forma 2019 financial results and operational metrics. Operating Profit $85m Revenue $800m Adj. EBITDA $115m Financials1 Operations1 Cash Management Markets 17 Ve
Slide 25: Acquisition Spotlight: PAI
25 Acquisition Spotlight – PAI Expanded Brink’s ATM Managed Services Capabilities Strategic Rationale • Strong management team with deep industry expertise • Expands Brink’s ATM managed services capabilities • Highly scalable business model • Cross-selling opportunities 1. Full-year 2021 Forecast, w
Slide 26: Strategy 1.0 Priorities
26 Free Cash Flow | Improve cash flow generation around the world by improving commercial and payment terms and reducing restructuring expenses. Brink’s Business System | Deploy processes, procedures and methodologies to deliver excellence. Revenue Growth | Continue to drive organic revenue growth a
Slide 27: Annualized Organic Growth of ~4% Since 2011
27 Annualized Organic Growth of ~4% Since 2011 Expected to Continue 0% 2% 4% 6% 8% 2011 2012 2013 2014 2015 2016 2017 2018 2019 Organic Growth Normalized ~4% 2017-2019 Average Organic Growth: 7% Organic Growth Excluding Argentina ~4% 2022-2024 Base Organic Annual Growth Target Revenue Growth Drivers
Slide 28: Cost Productivity Priorities
28 Cost Productivity Priorities • Expanding productivity and efficiency initiatives wider and deeper into the business through best practices • Maintaining cost structure even as revenue increases • Strengthening our culture of continuous improvement and expanding our Lean mindset • Using key perfor
Slide 29: Productivity and Efficiency Initiatives Drive Higher Margins
29 0% 10% 20% 30% Network / Route Optimization Crew Size Branch Standardization Money Processing Fleet Other Productivity and Efficiency Initiatives Drive Higher Margins Executing 20+ initiatives; top 5 expected to drive 80 percent of margin growth in 2022-2024 ~80% of margin growth from BreakThru I
Slide 30: Deployment of Global Efficiency and Leverage Initiatives
30 Deployment of Global Efficiency and Leverage Initiatives Results in higher margins and improved customer experience • Global deployment • Consistent tracking, monitoring, reporting • Company-wide resource sharing and investment • Common language, cultural unifier RESULTS Expanded Capacity and Imp
Slide 31: Case Study: Mexico
31 Deploying proven methodology globally 2016 2021 Forecast ~8% ~20% 310% Profit Growth1 Mexico Operating Profit Lean Roadmap • Kaizen events • Value stream maps • Branch visual management • Daily accountability to monitor and measure progress • Implement and learn tools to standardize work • Commun
Slide 32: Enterprise-wide Deployment of Lean Generates Results Quickly
32 Enterprise-wide Deployment of Lean Generates Results Quickly We’re tracking Key Performance Indicators globally Morocco REDUCED ROUTES BY IN ONE OF OUR LARGEST BRANCHES Czech Republic IMPROVED CASH PROCESSING BRANCH MARGIN BY IN LARGEST BRANCH Singapore IMPROVED PRODUCTIVITY SUPPORTING MARGIN
Slide 33: Increasing Free Cash Flow
33 Increasing Free Cash Flow • Reducing cash capital expenditures to less than 4% of sales • Improving commercial terms with customers with the deployment of new digital solutions • Expanding strategic partnerships with global suppliers to improve payment terms • Reducing restructuring costs
Slide 34: Operational Excellence & Digital Solutions to Drive Profit Growth
34 Digital Solutions Operational Excellence Maximum Profitability Reduce stops, add customer locations without cost Create operational capacity and improve margin Make cash processing fast and easy • With our new solutions, branch managers can use Operational Excellence Lean tools to determine when
Slide 35: Strategy 2.0: Digital Solutions & ATM Managed Services
Strategy 2.0 Digital Solutions & ATM Managed Services
Slide 36: Strategy 2.0 Consists of Two Primary Components
36 Strategy 2.0 Consists of Two Primary Components Digital Cash Payment Solutions Our subscription cash management service makes processing cash fast and easy for merchants of all sizes as well as financial institutions, all from one provider. Customer Experience: Simplified solution that makes mana
Slide 37: Strategy 2.0 Targets
37 Strategy 2.0 Targets We are well-positioned to accelerate growth with new digital and ATM offerings 1. Brink’s internal estimate. Note: See detailed reconciliations of non-GAAP to GAAP results in the Appendix. (Non-GAAP) ANNUAL TOTAL MARGIN GROWTH25 bps ADDRESSABLE MARKETLARGE ADDITIONAL GLOBAL M
Slide 38: Changing Payments Landscape Offers Unique Opportunity for Digital Solutions
38 Changing Payments Landscape Offers Unique Opportunity for Digital Solutions Brink’s is making cash as easy to manage as other payments • Retailers already have a digital solution to accept cards, but lack a comparable solution for cash. • We are disrupting the cash management industry by providin
Slide 39: U.S. Market Potential
39 U.S. Market Potential Large addressable market for digital cash payment solutions • Our digital cash payment solutions are currently targeted at retailers with monthly cash volumes > $5,000 • Of the estimated 3.8 million retail locations in the U.S., 2.2 million have monthly cash volumes > $5,000
Slide 40: Only 18% of U.S. Retail Locations Use Outsourced Cash Management
40 Only 18% of U.S. Retail Locations Use Outsourced Cash Management Solutions Note: All data based on Brink’s internal estimates. unvended 400,000 (18%) vended 1/3 are Brink’s customers underserved 2.2 million
Slide 41: 82% of U.S. Retail Locations are Underserved or Unvended
41 82% of U.S. Retail Locations are Underserved or Completely Unvended Note: All data based on Brink’s internal estimates. underserved 220,000 unvended 1.6 million vended 400,0001.8 million (82%) unvended and underserved 2.2 million
Slide 42: Our White Space Opportunity
We Call This Our “White Space” Opportunity A large untapped market in need of cash services Note: All data based on Brink’s internal estimates. 42 underserved 220,000 unvended 1.6 million 1.8 million
Slide 43: 220,000 Locations Are Underserved by Our Industry
220,000 Locations Are Underserved by Our Industry Use cash management service only at select locations 220,000 (10%) underserved 43 • Underserved retailers are generally very sophisticated and have hundreds to thousands of locations. • They accept debit and credit cards, but have not yet adopted an
Slide 44: 1.6 Million U.S. Retail Locations Are Completely Unvended
1.6 Million U.S. Retail Locations Are Completely Unvended Note: All data based on Brink’s internal estimates. 44 1.6 million (72%) unvended locations • Many of these locations are small-to- medium sized businesses. • They accept debit and credit cards, but do not have a safe and effective method for
Slide 45: $5 Billion+ Addressable Market in the U.S. Alone
$5 Billion+ Addressable Market in the U.S. Alone Note: All data based on Brink’s internal estimates. >$5 billion market opportunity 45 • Large, untapped “white space” opportunity for our digital cash payment solutions in the U.S. is comprised of over 1.8 million potential locations. • The total U.S.
Slide 46: Even 1% Penetration Would Significantly Increase Our Customer Base
46 1 Even 1% Penetration Would Significantly Increase Our Customer Base 1. Brink’s internal estimate 18,000 locations1 new market penetration1%
Slide 47: Brink's Complete Is Our Digital Cash Payment Solution for Retailers
47 Brink’s Complete Is Our Digital Cash Payment Solution for Retailers Four components Tech-enabled device Next-day credit funded by Brink’s Cash and coin delivery Digital app
Slide 48: Brink's Complete Simplifies How Merchants Manage Cash
48 How It Works: • We place a secure, tech-enabled device on a customer’s site • Our customer registers the cash receipts using our mobile app, and deposits their cash into their onsite device • We digitally confirm that the deposit was made, and provide credit for the deposit to any bank account of
Slide 49: Customer Benefits
49 Customer Benefits Brink’s Complete makes cash as easy to manage as card and mobile payments • Quicker access to deposited funds • Brings the bank to you – Safe and more convenient – Maximizes productivity of store employees • Credit to customer’s bank, anywhere, from any location – Customers can
Slide 50: Customer Feedback: Vended Customers
50 Customer Feedback | Vended Customers Former cash-in-transit customers Pilot program underway “With Brink’s Complete, we give stores a time-saving, streamlined solution that allows us to consolidate suppliers, provide greater cash reporting and tracking visibility, and get next-day credit for our
Slide 51: Customer Feedback: Underserved Retailers
51 Customer Feedback | Underserved Retailers Used cash management service only at select locations Implementing Brink’s Complete across all 1,100+ locations • Already up and running in 600 locations • 5-year agreement underserved
Slide 52: Customer Pilots: Underserved Retailers
52 Customer Pilots | Underserved Retailers Use cash management services only at select locations underserved We currently have 10 pilots underway with underserved national retailers • 25 – 30k potential locations • < 10% currently use an outsourced cash management provider • $50-$70M incremental rev
Slide 53: Customer Feedback: Unvended
53 Planning to Implement Brink’s Complete across 130+ locations “With Brink’s in control of the entire process, we’ll be able to work with only one vendor, making the process much easier to manage on our end. And the technology and configuration of the device is user friendly and requires minimal tr
Slide 54: Innovative Go-To-Market Strategy Targeting All Market Segments
54 We Have an Innovative Go-To-Market Strategy - Targeting All Market Segments Accelerates sales and repositions Brink’s within the payments ecosystem Our Multi-Pronged Approach • Deploy sophisticated, targeted marketing by segment for direct sales channel • Bundle Brink’s Complete with other paymen
Slide 55: Leveraging Reach of Payment Companies to Penetrate the Unvended Market
55 Leveraging Reach of Payment Companies to Penetrate the Unvended Market Merchant Payment Bundle Bundle digital cash payment solution with card acceptance offerings from third-party payment companies to provide merchants with an integrated payments experience for cash, card and mobile payments. Pro
Slide 56: Integrating Our Solution into Point-of-Sale Apps
56 Integrating Our Solution into Point-of-Sale Apps Launching in 2022 POS App Integration Integrate digital cash payment solution into point-of-sale apps offered by large POS providers. This enables merchants to use the base digital cash payment solution directly inside of the platform user interfac
Slide 57: Partners Are Embracing Our Commercial Offering for Cash Management
57 “Brink’s has opened the door for Priority to offer a digital cash payment solution. Adding cash to our portfolio enhances our customer experience and improves our ability to collect, store and send all forms of money.” – Tom Priore, Chairman and CEO, Priority Technology Holdings, Inc. Partners Ar
Slide 58: New Product Brand to Reach Unvended Market
58 We Created a New Product Brand to Reach Unvended Market Builds upon our strong heritage, but signals digital evolution
Slide 59: Deploying Brink's Complete Across Our Global Footprint
Our vision is to make Brink’s a digital payments company – focused on digital cash payment solutions. We Are Working to Deploy Brink’s Complete Across Our Global Footprint 59
Slide 60: Overview of ATM Business
60 Overview of ATM business Expanded ATM capabilities with 2021 PAI acquisition Brink’s owns, operates or manages more than 100,000 ATMs in the U.S. Offerings include • Cash logistics • Device management • Transaction processing • Cash forecasting • Technology
Slide 61: ATM Managed Services Growth Represents Significant Opportunity
61 ATM Managed Services Growth Represents Significant Opportunity Brink’s is well-positioned to win globally by 2027 (6.5% CAGR) $10B$7.5B in 2022 ATM Managed Services Global Market1 1. Allied Market Research – Global ATM Managed Services Market report.
Slide 62: Financial Institutions Are Largest Driver of ATM Managed Services Growth
62 Financial Institutions Are Largest Driver of ATM Managed Services Growth >50% of the global ATM footprint is owned/operated by financial institutions1 Growth driven by: • Retail branch transformation • Cost reduction • Capex reduction Developed economies are on leading edge of this transition • A
Slide 63: Partnership with BPCE in France
63 Partnership with BPCE in France Outsourced entire network of >10,000 ATMs • 10+ year recurring revenue contract • $60 million annual revenue expected • Capabilities and infrastructure to integrate and service BPCE’s ATM portfolios in an end-to-end solution • Allows BPCE to optimize their cost str
Slide 64: Full-Store Cash Solution for Retail-based ATMs
64 In the U.S., Brink’s Offers Full-Store Cash Solution for Retail-based ATMs Our ATM business system integrates service elements into a single offering • Terminal ownership • Infrastructure management (processing, sponsorship, monitoring, disputes, etc.) • Cash loading • Maintenance • Cash provisio
Slide 65: Turnkey ATM & Cash Logistics for Retail Partners
65 “We’ve been pleased to partner with PAI for ATM and smart safe cash services during these challenging times. We’ve found the combined services to be a cost effective and efficient approach and represents a logical evolution in this segment of our business.” -Frank Schilling, Director of Marketing
Slide 66: Adding Existing Brink's and Other Products to Our ATM Estate
66 We’re Adding Existing Brink’s and Other Products to Our ATM Estate Hi res cards located in Dropbox folder • We have enabled the ability to purchase Bitcoin on almost 7,000 ATMs in our U.S. network • We are integrating Brink’s Money prepaid card products into our ATM business This improves our abi
Slide 67: Sustainability
Sustainability Generating sustainable, profitable growth
Slide 68: Building a More Sustainable Brink's
68 Building a More Sustainable Brink’s As the world’s largest cash management company, we help empower millions of underbanked people around the world to access goods and services by keeping cash moving and accessible. ENVIRONMENT Reducing our environmental impact by: • Integrating responsible envir
Slide 69: Our Objectives
CONFIDENTIAL. FOR INTERNAL USE ONLY – DO NOT DUPLICATE OR DISTRIBUTE. 69 Our Objectives • Integrate sustainable practices into our daily operations to increase efficiency & reduce waste • Enhance our policies and procedures to reflect best practices • Increase transparency of our practices and progr
Slide 70: Initial Actions & Next Steps
70 Initial Actions & Next Steps Launched formal Sustainability program in 2021 Early Progress • Developed a roadmap to guide initiatives and disclosures • Signed the United Nations Global Compact • Pledged to support CEO Action for Diversity and Inclusion • Hired supplier diversity expert and launch
Slide 71: Reduce Environmental Impact
71 Reduce Environmental Impact Generating operational efficiency to manage our environmental footprint • Reduce emissions – Modernizing our fleet – Implementing dual fuel and alternate fuel vehicles – Optimizing routes to minimize distance • Increase efficiency of our operations – Integrating respon
Slide 72: Maximize Social Impact
72 By keeping cash moving and accessible, Brink’s enables vulnerable populations to participate in the economy In the U.S., ~28% of in-person transactions are in cash and ~18% of the population is unbanked, or underbanked, and must rely on cash1 • This population is disproportionately from economica
Slide 73: Governance
73 Governance A foundation built on strength, security and trust • Maintain trust with our employees, customers, suppliers, shareholders and other stakeholders by ensuring everything we do aligns with our Code of Ethics • Embed risk management and other processes for responsible operations and ethic
Slide 74: Stakeholder quote from Doug Pertz
74 We understand that investors are not only focused on what we achieve, but also how we achieve it. To compete and win, we must consider the broader needs of society, ensuring that we treat all stakeholders fairly and with respect while managing our business with integrity and fidelity. — Doug Pert
Slide 75: Financial Review
Financial Review
Slide 76: Value Creation Strategy: Four Building Blocks
76 Brink’s Value Creation Strategy: Four Building Blocks RETURNS CREDIBILITY MARGINS • Reduce Complexity • Increase Transparency • Set Aggressive Targets • Meet / Exceed Goals • Pandemic Response • ESG Progress • Free Cash Flow • Financial Leverage • Capital Allocation – Capex – Accretive M&A – Divi
Slide 77: Exceeded 2017-2019 Strategic Plan Targets
77 1. SP1 Target as of 3/2/2017 Investor Day. Note: See detailed reconciliations of non-GAAP to GAAP results in the Appendix. (Non-GAAP, $ Millions, except EPS) +12% vs. Target +19% vs. Target +11% vs. Target +21% vs. Target +320 bps vs. 2016 +370 bps vs. 2016 Revenue +27% CAGR +8% Avg. Organic Grow
Slide 78: 2022 Revenue Recovery Supports 2022 Adj. EBITDA Target Range
78 2022 Revenue Recovery Supports 2022 Adj. EBITDA Target Range (Non-GAAP, $ millions) $4,200 89% 92% 93% 96% 80% 85% 90% 95% 100% 1Q 2Q 3Q 4Q Total 2021 Revenue % of 20191 1. Pro-forma 2019 Revenue adjusted to include results for businesses acquired in 2020 and 2021 as if they were owned in 2019. 2
Slide 79: 2024 Financial Targets: Strong Revenue and Profit Growth Expected
79 2024 Financial Targets: Strong Revenue and Profit Growth Expected 1. 2024 CAGR calculated based on mid-point of range provided vs 2021 except revenue which is calculated based on the high-point of 2021 guidance and the mid-point of 2024. Note: See detailed reconciliations of non-GAAP to GAAP resu
Slide 80: Operating Profit Targeted to Grow 70%
80 Operating Profit Targeted to Grow 70% Strategies 1.0 + 2.0 Note: See detailed reconciliations of non-GAAP to GAAP results in the Appendix. $465 $795 2021 Guidance Mid-point 1.0 Productivity and Efficiency Initiatives 1.0 Other Strategy 2.0 2024 Target ~11.2% Margin ~14.5% Margin +70% 20% CAGR (No
Slide 81: Strong Free Cash Flow Expected in 2021
81 Strong Free Cash Flow Expected in 2021 1. Includes cash proceeds from sale of property, equipment and investments. 2. At the mid-point of the guidance range. Note: See detailed reconciliations of non-GAAP to GAAP results included in the Appendix. (Non-GAAP, $ millions) $660 ( $95 ) ( $95 ) ( $105
Slide 82: Significant Cash Flow Growth Expected Through 2024
82 Significant Cash Flow Growth Expected Through 2024 1. Includes cash proceeds from sale of property, equipment and investments. 2. Pro-forma excluding deferred 2020 payroll taxes paid in 2021. Note: See detailed reconciliations of non-GAAP to GAAP results included in the Appendix. (Non-GAAP, $ mil
Slide 83: Free Cash Flow Expected to Grow by ~3x over 3-Year Plan Period
83 Free Cash Flow Expected to Grow by ~3x over 3-Year Plan Period 1. Includes cash proceeds from sale of property, equipment and investments. 2. Pro-forma excluding deferred 2020 payroll taxes paid in 2021. 3. At the mid-point of the guidance range. Note: See detailed reconciliations of non-GAAP to
Slide 84: Targeting a Reduction in Cash Capital Expenditures as % of Revenue
84 Targeting a Reduction in Cash Capital Expenditures as % of Revenue 1. CapEx associated with BPCE ATM outsourcing is excluded from the 2021 and 2024 targets Note: There is no difference between GAAP and non-GAAP CapEx amounts for the 2019 and 2020 periods presented (Non-GAAP, $ millions) $165 $119
Slide 85: Expect Net Debt Reduction of $1 Billion, Improved Leverage Ratio
85 Expect Net Debt Reduction of $1 Billion, Significantly Improved Leverage Ratio 1. Net Debt divided by Adjusted EBITDA. 2. Pro-forma Net Debt at year-end, considering our Free Cash Flow Targets. 3. At the mid-point of the guidance range. Note: See detailed reconciliations of non-GAAP to GAAP resul
Slide 86: No Material Debt Service Obligations until 2024
86 No Material Debt Service Obligations until 2024 ($ millions) $70 $70 $70 $1,089 $400 $600 $1,000 2021 2022 2023 2024 2025 2026 2027 Term Loan A Senior Notes Revolver Senior Notes Term Loan A Amortization The “make-whole” on both tranches of Senior Notes expire in 2022
Slide 87: No Cash Payments for Legacy Liabilities Expected Until 2029
87 No Cash Payments for Legacy Liabilities Expected Until 2029 ($ millions) Payments to UMWA 2021 2022 2023 2024 2025 2026 Payments to Primary U.S. Pension No cash payments are expected in foreseeable future $0 2021 $23 $24 $23 $281 2029 2030 2031 After 2031 Note: Based on actuarial assumptions as o
Slide 88: Projecting 20% Total Shareholder Return over 3-Year Plan Period
88 Projecting 20% Total Shareholder Return (TSR) over 3-Year Plan Period Note: Total shareholder return (TSR) projections are calculated using 2024 one year forward EPS projections and Price / NTM Earnings multiple of 11X. Revenue Growth Margin Expansion Debt Paydown, Share Repurchase and Dividend Y
Slide 89: Potential for Additional Shareholder Returns with M&A and Multiple Expansion
89 Potential for Additional Shareholder Returns with M&A and Multiple Expansion Note: Total shareholder return (TSR) projections are calculated using 2024 one year forward EPS projections and Price / NTM Earnings multiple of 11X. Revenue Growth Margin Expansion Debt Paydown, Share Repurchase and Div
Slide 90: Favorable Comparisons to Route-Based Industrial Services Peers
90 Favorable Comparisons to Route-Based Industrial Services peers1 1. Financial metrics and calculations based on 2016-2022 fiscal year-end non-GAAP actuals and estimates, BCO guidance, FactSet data and broker consensus estimates, publicly available information, and internal estimates as of November
Slide 91: Strategy Execution Drives Increased Share Price Potential in 2024
91 Strategy Execution Drives Increased Share Price Potential in 2024 Note: Total shareholder return (TSR) projections are calculated using 2024 one year forward EPS projections and Price / NTM Earnings multiple of 11X. EV / EBITDA SHARE PRICE CAGR vs. 2021 6.5 $115 ~20% 7.5 $135 ~28% 8.5 $155 ~35% 9
Slide 92: Conclusion: Summary of Brink's 2022-2024 Strategic Plan
Conclusion Summary of Brink’s 2022 – 2024 Strategic Plan
Slide 93: 3-Year Plan Expected to Deliver Strong Annual Revenue and Margin Growth
93 75 bps STRATEGY 1.0 25 bps STRATEGY 2.0 100 bps ANNUAL MARGIN GROWTH Annual Organic Revenue Growth Annual Margin Growth STRATEGY 1.04% STRATEGY 2.03% ANNUAL ORGANIC REVENUE GROWTH 7% 3-Year Plan Expected to Deliver Strong Annual Revenue and Margin Growth (Non-GAAP) Note: See detailed reconciliati
Slide 94: 2024 Targets Reflect Impact of High-Margin Revenue Growth
94 MARGIN IMPROVEMENT1 INCREMENTAL REVENUE1 TOTAL REVENUE ADJUSTED EBITDA FREE CASH FLOW 2024 Targets Reflect Impact of High-Margin Revenue Growth (Non-GAAP) 1. Versus 2021 Guidance. Note: See detailed reconciliations of non-GAAP to GAAP results in the Appendix.
Slide 95: Strategic Plan Adds a New Layer of Growth Upon a Strong Foundation
95 Our Strategic Plan Adds a New Layer of Growth Upon a Strong Foundation 2022 20242023 Digital solutions and ATM managed servicesStrategy 2.0 Organic growth and operational excellenceStrategy 1.0
Slide 96: Cash Usage Remains Strong in the U.S. and Globally
96 6% 31% Credit 34% Debit 28% Cash U.S. - 28% of In-Person Transactions are in Cash2 Cash Usage Remains Strong in the U.S. and GlobalIy Mexico ~85% Brazil ~72% France ~55% Philippines ~60% Cash is 2/3 of global payments1 Global - Cash Percentage of In-Person Payments3 (during the pandemic) 1. 2020
Slide 97: Expanded Growth Opportunity for Brink's and Our Payment Partners
97 Unvended Opportunity Vended Expanded Growth Opportunity for Brink’s and Our Payment Partners Note: All data based on Brink’s internal estimates. Vended Unvended Opportunity U.S. Retail Locations Digital Payments – Locations Highly Vended Cash Payments – Locations Highly Unvended
Slide 98: Our White Space Opportunity
We Call This Our “White Space” Opportunity A large untapped market in need of cash services Note: All data based on Brink’s internal estimates. 98 underserved 220,000 unvended 1.6 million 1.8 million
Slide 99: Digital Cash Payments Solutions
99 C O M P E L L I N G Digital Cash Payments Solutions I N T E G R A T E D Payments Partnerships E X P A N D E D Growth Opportunity Brink’s Digital Cash Management Solutions We have a multi-pronged go-to-market strategy • Direct to merchants • Integrated with other payment processing services offere
Slide 100: Digital Cash Payment Solutions
100 DIGITAL CASH PAYMENT SOLUTIONS Our strategy combines operational excellence with innovation, and positions us to capitalize on the tremendous opportunity before us as the payments industry evolves. And our team is poised to disrupt the industry and unlock significant value for all of our stakeho
Slide 101: Appendix
Appendix
Slide 102: Non-GAAP Results Reconciled to GAAP (1 of 3)
102 2016, 2017, 2019 and 2020 Non-GAAP Results Reconciled to GAAP (1 of 3) Amounts may not add due to rounding. See slide 104 for footnote explanations. The Brink’s Company and subsidiaries Non-GAAP Reconciliations (In millions) 2016 2017 2019 2020 Full Year Full Year Full Year Full Year Revenues: G
Slide 103: Non-GAAP Results Reconciled to GAAP (2 of 3)
103 2016, 2017, 2019 and 2020 Non-GAAP Results Reconciled to GAAP (2 of 3) Amounts may not add due to rounding. See slide 104 for footnote explanations. The Brink’s Company and subsidiaries Non-GAAP Reconciliations (In millions, except for per share amounts) 2016 2017 2019 2020 Full Year Full Year F
Slide 104: Non-GAAP Results Reconciled to GAAP (3 of 3)
104 2016, 2017, 2019 and 2020 Non-GAAP Results Reconciled to GAAP (3 of 3) The Brink’s Company and subsidiaries Non-GAAP Reconciliations (In millions) The 2021, 2022 and 2024 Non-GAAP outlook amounts exclude certain forecasted Non-GAAP adjusting items, such as intangible asset amortization and U.S.
Slide 105: Non-GAAP Reconciliation – Other (1 of 2)
105 Non-GAAP Reconciliation – Other (1 of 2) The Brink’s Company and subsidiaries Other Items Not Allocated to Segments (Unaudited) (In millions) Brink’s measures its segment results before income and expenses for corporate activities and for certain other items. See below for a summary of the other
Slide 106: Non-GAAP Reconciliation – Other (2 of 2)
106 Non-GAAP Reconciliation – Other (2 of 2) The Brink’s Company and subsidiaries Other Items Not Allocated to Segments (Unaudited) (In millions) 2017 Acquisitions and Dispositions • Amortization expense for acquisition-related intangible assets was $8.4 million in 2017. • A net gain of $7.8 million
Slide 107: Non-GAAP Reconciliation – Net Debt
107 Non-GAAP Reconciliation – Net Debt The Brink’s Company and subsidiaries Non-GAAP Reconciliations – Net Debt (Unaudited) a) Title to cash received and processed in certain of our secure Cash Management Services operations transfers to us for a short period of time. The cash is generally credited