Slide 1: Earnings Overview
Earnings Overview Verra Mobility Q4 and Full Year 2025 Earnings Presentation For the Quarter and Year Ended December 31, 2025
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements which address our expected future business and financial performance, and may contain words such as “goal,” “target,” “future,” “estimate,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “project,” “may,”
Slide 3: Q4 2025 Financial Highlights Executive Summary
Q4 2025 Financial Highlights Executive Summary Total Revenue • New York City Red-Light camera installations drive revenue growth - Government Solutions: 21% Y-o-Y service revenue growth driven by red-light camera $258 million; 16% YoY growth installations and 11% growth outside of New York City - Co
Slide 4: Strong top-line growth driven by NYC expansion & core market trends
Strong top-line growth driven by NYC expansion & core market trends Consolidated – Q4 Results Total Revenue ($M) Adjusted EBITDA ($M)* Service Product Total $258 $222 +16% $18 $12 Total $102 --% $102 Service $240 $210 +14% Q4 2024 Q4 2025 Q4 2024 Q4 2025 Adjusted EPS* Free Cash Flow ($M)*,1 $0.33 -9
Slide 5: Core Businesses Drive Strong Growth and Margins
Core Businesses Drive Strong Growth and Margins Total Revenue Breakdown ($M) Adjusted EBITDA & Margins* ($M) Service Total Revenue Product 4-Yr CAGR 15% Adj EBITDA Service Revenue 4-Yr CAGR 11% 4-Yr CAGR 17% 46% 42% $979 45% $817 $879 $61 46% $742 $34 $38 $46 49% $551 $416 $402 $58 $918 $372 $842 $3
Slide 6: Increased travel volume and product adoption driving strong performance
Increased travel volume and product adoption driving strong performance Commercial Services – Q4 Results Total Revenue & YoY Growth Segment Profit & YoY Growth Segment Profit $69 Srvc Rev $108 $65 +7% +10% $99 Q4 2024 Q4 2025 Q4 2024 Q4 2025 Q4 – Key Highlights • Fourth quarter Revenue up 10% over Q
Slide 7: Revenue fueled by NYC expansion and core market acceleration
Revenue fueled by NYC expansion and core market acceleration Government Services – Q4 Results Total Revenue & YoY Growth Segment Profit & YoY Growth Service Product Revenue $129 Total Rev +25% $14 $103 $8 Segment Profit Srvc Rev $35 +21% -10% $31 $115 $95 Q4 2024 Q4 2025 Q4 2024 Q4 2025 Q4 – Key Hig
Slide 8: Solid Subscription and Services Revenue along with an increase in Product Revenue drive 4Q
Solid Subscription and Services Revenue along with an increase in Product Revenue drive 4Q revenue growth T2 Systems – Q4 Results Total Revenue & YoY Change Segment Profit & YoY Change SaaS & Service Revenue Product Revenue $20 Total Rev $21 +5% $4 $4 Srvc Rev $16 $16 +2% $3 Segment Profit -43% $2 Q
Slide 9: Strong, Flexible Balance Sheet + Robust Cash Flow
2 0 2 1 I N V E S T O R D A Y – © B U I L D E R9 S F I R S T S O U R C E Strong, Flexible Balance Sheet + Robust Cash Flow Capital Summary & Financial Highlights ($M) Net Leverage* Improvement ($M) December 31, 2025 $968 $935 $893 $972 $843 Cash & Cash Equivalents $65 2.4x 2.3x 2.2x 2.0x 2.3x Debt $
Slide 10: 2026 Financial Outlook is expected to deliver solid revenue growth and Free Cash Flow conversion
2026 Financial Outlook is expected to deliver solid revenue growth and Free Cash Flow conversion 2026 Guidance In millions, except per share data Commentary CS … MSD expected growth GS … High-end of MSD growth expected Expect Total Revenue growth of 5% at Total Revenue $1,020 - $1,030 (GS Service Re
Slide 11: Additional 2026 Guidance Assumptions
Additional 2026 Guidance Assumptions 2026 fully diluted share count expected to be approximately ~155 million shares (weighted average for the year) Effective tax rate expected to be 28.0% to 29.0% including State taxes; approximately $50 million expected in 2026 total cash taxes paid 2026 depreciat
Slide 12: Appendix
Appendix 12
Slide 13: Key Definitions
KEY DEFINITIONS EBITDA and Adjusted EBITDA We define "EBITDA" as net income adjusted to exclude interest expense, net, income taxes, depreciation and amortization. "Adjusted EBITDA" further excludes certain non-cash expenses and non-recurring items. Adjusted EBITDA Margin We define “Adjusted EBITDA
Slide 14: Key Definitions, Continued
KEY DEFINITIONS, Continued Net Debt We define “Net Debt” as total long-term debt (including current portion of long-term debt) excluding original issue discounts and unamortized deferred financing costs, less cash and cash equivalents. Net Leverage We define “Net Leverage” as Net Debt divided by the
Slide 15: Verra Mobility Quarterly Results
Verra Mobility Quarterly Results 2024 – 2025 Full Year Full Year ($ in millions) Q1 2024 Q2 2024 Q3 2024 Q4 2024 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2025 Service revenue $202.7 $212.0 $217.3 $209.7 $841.7 $211.9 $223.5 $243.2 $239.8 $918.1 Product sales 7.0 10.4 8.3 11.8 37.5 11.4 12.5 18.7 18.3 $6
Slide 16: Verra Mobility Quarterly Results: Segment Results of Operations
Verra Mobility Quarterly Results Segment Results of Operations Commercial Services Unaudited ($ in millions) Q1 2024 Q2 2024 Q3 2024 Q4 2024 Full Year 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Full Year 2025 Total Revenue Commercial Services $95.9 $104.0 $109.1 $98.7 $407.7 $101.4 $109.0 $117.3 $108.1 $4
Slide 17: Verra Mobility Adj. Net Income and Adjusted EPS Reconciliations
Verra Mobility Adj. Net Income and Adjusted EPS Reconciliations (in $MM, except per share data) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Net Income ($66.7) $32.3 $38.6 $46.8 $18.9 Amortization of intangibles 16.7 16.7 16.4 15.6 15.6 Transaction and other related expenses 1.2 - 1.1 - 6.3 Transformatio
Slide 18: Verra Mobility Free Cash Flow Reconciliation, incl. % of Adj. EBITDA
Verra Mobility Free Cash Flow Reconciliation, incl. % of Adj. EBITDA ($MM) 2021 2022 2023 2024 2025 Net cash provided by operating $ 193 $ 218 $206 $224 $256 activities Purchases of installation and service parts and property and equipment (25) (48) (57) (71) (119) Free Cash Flow $ 168 $ 170 $149 $1
Slide 19: Verra Mobility Net Debt and Net Leverage Reconciliation
Verra Mobility Net Debt and Net Leverage Reconciliation Q4 Q1 Q2 Q3 Q4 ($MM) 2024 2025 2025 2025 2025 2021 Term Loan, due 2028 $696 $693 $691 $689 $687 Plus: Senior Notes, due 2029 $350 $350 $350 $350 $350 Long-term Debt, excluding original issue discounts and unamortized $1,046 $1,043 $1,041 $1,038
Slide 20: Thank You
Thank You http://ir.verramobility.com/