Slide 1: Q2 2026 Earnings Presentation
Q2 2026 Earnings Presentation August 6, 2026 © 2026 First Advantage
Slide 2: Forward-Looking Statements
F O R W AR D - L O OKIN G S TATE M E N TS This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, our operations and financial p
Slide 3: Q2 2026 Highlights
Q2 2026 Highlights Scott Staples Chief Executive Officer © 2026 First Advantage
Slide 4: Key Messages
Key Messages Outstanding Q2 2026 performance; Q2 YoY revenue growth of 15%, 28.6% Adj. EBITDA Margin1, and 30% Adj. Diluted EPS1 YoY growth, outperforming stated 1 expectations; demonstrating strength of go-to-market performance, state-of-the-art AI- driven proprietary technology platform, and durab
Slide 5: Exceptional Q2 2026 Results
Exceptional Q2 2026 Results Cash Flow Revenues Adjusted EBITDA1 from Operations Adjusted Diluted EPS1 $449M $128.5M $73.6M $0.35 15% 28.6% $238M 30% YoY Growth Adj. EBITDA Margin1 Cash Balance YoY Growth Q2 Themes Strategic Differentiators Recognition and Milestones • Results benefited from sustaine
Slide 6: Go-to-Market Update
Go-to-Market Update Joelle Smith President © 2026 First Advantage
Slide 7: Revenue Growth Algorithm Drivers
Revenue Growth Algorithm Drivers Q2 Go-to-Market Success • 15% Q2 YoY revenue growth exceeded First Advantage previously stated expectations and long-term growth algorithm target of 7-9% Q2’25 Q3’25 Q4’25 2025 Q1’26 Q2’26 • Combined upsell, cross-sell, and new logo contribution of 12.5% Upsell / Cro
Slide 8: Winning with Differentiated Product Portfolio
Go-to-Market Update Transportation Winning with Differentiated Product Portfolio & Logistics Product innovation strategy is driving differentiated customer solutions Sustained base volumes and healthy consumer activity and competitive advantage supporting labor demand — Continued Digital Identity mo
Slide 9: Financial Results & Outlook
Financial Results & Outlook Steven Marks Chief Financial Officer © 2026 First Advantage
Slide 10: Q2 2026 Financial Results
Q2 2026 Financial Results ($ in millions, except per share data and percentages) Revenues Adjusted EBITDA and Margin1 Adjusted Diluted EPS1 $448.8 $128.5 $0.35 $390.6 +15% $113.9 +13% +30% 29.2% $0.27 28.6% Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026 • 5th consecutive quarter of positive YoY rev
Slide 11: Cash Flow and Capital Structure
Cash Flow and Capital Structure Q2 2026 Cash Flow Synergized Net Leverage Capital Allocation • Cash balance of $238M at 6/30/26 De-levered by 0.7x since close of Share Repurchases • Q2 2026 Operating Cash Flows of $73.6M Sterling acquisition • Closely managing working capital to $18.7M in Q2 support
Slide 12: Raising Full Year 2026 Guidance
Raising Full Year 2026 Guidance Updated Guidance Prior Guidance (as of August 6, 2026) (as of May 7, 2026) Total Revenues $1,670M to $1,710M $1,625M to $1,700M 6% to 9% YoY Growth 3% to 8% YoY Growth $472M to $486M $460M to $485M Adjusted EBITDA 7% to 10% YoY Growth 4% to 10% YoY Growth ~28.3% Margi
Slide 13: Adjusted Diluted EPS Growth
Adjusted Diluted EPS Growth 1 4-Year CAGR2: +19% - 25% 2024 - 2028 $1.65 - $2.00 +14% - 26% 2-Year CAGR3 +18% - 24% YoY $1.23 - $1.29 +27% YoY $1.04 $0.82 2024 Actuals 2025 Actuals 2026 Guidance 4 2028 Target 1. Non-GAAP measure. See appendix for reconciliation of 2024 and 2025 Adjusted Diluted Earn
Slide 14: Closing Remarks
Closing Remarks Scott Staples Chief Executive Officer © 2026 First Advantage
Slide 15: Investment Thesis and Reaffirmed 2028 Targets
Investment Thesis and $1.8B - $2.0B Reaffirmed 2028 Targets Targeted Revenues 4% - 7% CAGR (4-year) A market leader offering AI-enabled proprietary technology and data in a large and growing market $560M - $630M Targeted Adjusted EBITDA Significant organic revenue growth potential, accelerated by 9%
Slide 16: Appendix
Appendix Supplemental Materials and Reconciliations to GAAP Measures © 2026 First Advantage
Slide 17: First Advantage At a Glance
First Advantage At a Glance (2025) Our Scale Our Verticals5 200M+ 13+ Year $1.6B 5% 3% 21% Healthcare Annual Average Tenure of Revenues 8% Transportation & Logistics Screens Top 100 Customers 4% YoY PF Growth1 Retail & E-Commerce 8% Financial Services 200+ 80K+ $441M Industrials & Manufacturing Coun
Slide 18: Delivering on Net Cost Synergies from Sterling Acquisition
Delivering on Net Cost Synergies from Sterling Acquisition (10/31/2024) $65M – $80M Synergy Priorities Post-Close of Sterling Acquisition Total Run Rate Synergy Target Expected To Be Actioned Within 2 Years $63M Run Rate Synergies Actioned as of 6/30/26 Day 1 – 11/1/2024: First 180 Days: Year 1: Yea
Slide 19: Full Year 2026 Guidance Details: Modeling Assumptions
Full Year 2026 Guidance Details: Modeling Assumptions $ in millions; all values are approximate Assumption Free Cash Flow Cash Flow from Operations less Capital expenditures, including capitalized software development $170 - $195 Capital expenditures, including capitalized software development $63 -
Slide 20: Sterling Acquisition Post-Close Strategic Priorities
Sterling Acquisition Post-Close Strategic Priorities 1 E X E C U T I N G I N T E G R AT I O N P L AY B O O K Seamless integration process focused on customer retention, synergy realization, and operational efficiency led by a dedicated team and supported by all functional areas 2 AC T I O N I N G S
Slide 21: Long-term Growth Algorithm Targets
Long-term Growth Algorithm Targets Strategy and Key New Existing Customers Customers Organic Growth Drivers • Continued focus on AI, automation, and technology • Strong track record of innovation 4-5% ~96% • Vertical go-to-market strategy 4-5% 7-9% • Candidate experience 6-7% • Quality and complianc
Slide 22: Adjusted EBITDA and Revenues
Adjusted EBITDA and Revenues Quarters Ended LTM Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Mar 31, 2026 Jun 30, 2026 Jun 30, 2026 Q2 Q3 Q4 Q1 Q2 in thousands, except percentages Net income $ 308 $ 2,593 $ 3,469 $ 2,168 $ 16,914 $ 25,144 Interest expense, net 44,785 40,041 37,261 29,841 31,608 138,751 (B
Slide 23: Pro Forma 2024 Adjusted EBITDA and Revenues
Pro Forma 2024 Adjusted EBITDA and Revenues Historical Pro Forma Year Ended Dec 31, Period Ended Oct 31, Adjustm ents for the Year Ended Dec 31, 2024 2024 Tw elve Months Ended 2024 Reported First Legacy Sterling (1) Dec 31, 2024 First Advantage in thousands, except percentages Advantage Net (loss) i
Slide 24: Reported 2025 Adjusted EBITDA and Revenues
Reported 2025 Adjusted EBITDA and Revenues Year Ended in thousands, except percentages Dec 31, 2025 Net (loss) income $ (34,824) Interest expense, net 168,667 Provision (benefit) for income taxes (2,427) Depreciation and amortization 248,583 Loss on extinguishment of debt 1,052 Share-based compensat
Slide 25: Adjusted Net Income and Adjusted Earnings Per Share
Adjusted Net Income and Adjusted Earnings Per Share Quarters Ended Quarters Ended Jun 30, 2025 Jun 30, 2026 Jun 30, 2025 Jun 30, 2026 in thousands Q2 Q2 Q2 Q2 Net income $ 308 $ 16,914 Diluted net income per share (GAAP) $ 0.00 $ 0.10 (Benefit) provision for income taxes (7,610) 8,142 Adjusted Net I
Slide 26: Historical Adjusted Earnings Per Share
Historical Adjusted Earnings Per Share Years Ended 1. Represents the loss on extinguishment and non-cash interest expense associated with the Dec 31, 2024 Dec 31, 2025 amortization of debt issuance costs related to the refinancing of the Company’s First Lien Credit Facility. This adjustment also inc
Slide 27: Constant Currency Revenues
Constant Currency Revenues Quarter Ended Jun 30, 2026 in thousands, except percentage Q2 Revenues, as reported (GAAP) $ 448,763 Foreign currency translation impact (1) (810) Constant currency revenues $ 447,953 Constant currency revenues growth 14.7% 1. Constant currency revenues are calculated by t