Geo Group Inc (the) Reit · NYSE:GEO
Geo Group Inc (the) Reit — GEO Group — Investor Day (March 2025)
73 slides from Geo Group Inc (the) Reit's investor day presentation, Mar 20, 2025
Slide 1: GEO Investor Day Management Presentation
Exhibit 99.1 GEO Investor Day Management Presentation March 20, 2025
Slide 2: Important Notices and Disclaimers
Important Notices and Disclaimers Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward-looking statements are any s
Slide 3: Welcome and Company Overview
Welcome and Company Overview J. David Donahue Chief Executive Officer
Slide 4: Leading Diversified Secure and Community Reentry Services Provider
GEO is the Leading Diversified Secure and Community Reentry Services Provider with a 40% Share of the Market Revenues Employees Facility Bed Capacity $2.42B 79,000 76,000 Beds $2.0B Beds 18,000 70,200 Employees 57,000 11,000 Employees GEO CoreCivic GEO CoreCivic GEO CoreCivic Owned/Leased Managed On
Slide 5: Company History
Company History • Started in 1984 • Went public in 1994 • Separated from parent company in 2003 • Became a REIT in 2013 and transitioned to a C-Corp in 2021 • 2025 Expected Unprecedented Growth 4
Slide 6: Corporate Structure
GCe@. Corporate Structure + 48,481 +39 Fa = Owned/Leased + 16,02 + 11 Facilities | Managed Only Reentry Services Residential Non-Resident: Supervi uals + 7,244 Bed: + 98 Non-Residential on Electronic Monitoring +37 Fa | Ownear Leased Centers + 184 Beds + 103 ISAP Offices 2 Facilities | Managed Only
Slide 7: GEO's Diversified Operations: 300+ Locations
GEO’s Diversified Operations: 300+ Locations 6
Slide 8: Revenues by Segment
Revenues by Segment FY24 Revenue $2.42 Billion GEO Secure GEO Care Services 25% 75% Reentry Services Electronic 11% Monitoring 14% Federal International 49% 9% State 17% 7
Slide 9: Diversified Long-Term Quality Customer Relationships
Diversified Long-Term Quality Customer Relationships Revenues/Percentage By Customer (FY2024) Other Non- Texas South Africa Residential Various Others 1% 1% 9% 2% Virginia 1% Georgia ICE* 1% 41% New Jersey 1% New Mexico Federal 1% Government Oklahoma 2% 61% Indiana 2% U.S. Marshals Florida 17% 5% Ar
Slide 10: Segment Trends
Segment Trends ICE USMS Ø New Administration’s Ø New Administration’s Immigration Enforcement Priorities Federal Law Enforcement Priorities Ø More Detention Capacity Ø Growing Capacity Requirements Ø More Electronic Monitoring Ø Desire to Consolidate into Larger Ø More Secure Transportation for Faci
Slide 11: U.S. Marshals Services (USMS)
U.S. Marshals Services (USMS) USMS Detention Populations (2014 –2024) 70,000 63,687 63,679 61,421 61,435 60,923 Expected 60,000 55,776 56,155 55,170 Growth in 51,777 51,316 50,317 Contractor 50,000 Beds 40,000 1)_Rivers (NC) 30,000 1,320 Beds 2)_Cedar Hill (TX) 20,000 924 Beds ~46% 10,000 Contractor
Slide 12: U.S. Immigration & Customs Enforcement
U.S. Immigration & Customs Enforcement UNSUPERVISED INTENSIVE SUPERVISION NON-DETAINED DOCKET APPEARANCE PROGRAM 2 7,000,000 – 8,000,000 (ISAP) PARTICIPANTS 3 184,000 41.67% 1.10% DETAINED TOTAL ALIEN 3 46,000 1.35% POPULATION 0.25% 1 16.8M 56.99% GOTAWAYS/OVERSTAYS/OTHER 9,574,500 Sources: 1) https
Slide 13: GEO is the Largest Service Provider to ICE
GEO is the Largest Service Provider to ICE ICE ICE ICE Detention Electronic Transportation Services Monitoring Services Exclusive Air Secure Exclusive Private Sector Support Sub-Contract ISAP Contract Beds* GEO GEO GEO 42% Other 100% 100% 58% Expected Growth in Detention, Electronic Monitoring, and
Slide 14: ICE Processing Center Beds Breakdown
U.S. Immigration & Customs Enforcement Current ICE Processing Center Beds Breakdown * 46,000 Beds ICE Processing Center Beds Private Sector Beds Public Sector 10% GEO 42% Other Private 58% Sector 90% Expected Growth to 100K-160K Beds * Approximations based on contract guarantee bed counts Source: IC
Slide 15: Board Welcome
Board Welcome Jack Brewer Lead Independent Director
Slide 16: Background
Background Challenges ØPrevious Career in Sports ØFinancial Services Experience ØIntroduction to GEO Facilities ØGEO Continuum of Care ØGEO Brand: Industry Best 15
Slide 17: How GEO Changed Me
How GEO Changed Me Challenges Ø I was against private prisons Ø In 2018, I visited GEO’s Riverbend Correctional Facility in Georgia, and shortly after began teaching in prison. Ø I joined GEO’s Board of Directors in 2021. Ø Chair of the Criminal Justice and Rehabilitation Committee on GEO’s Board Ø
Slide 18: Diversified Employer
Diversified Employer Challenges Ø Proud diversified employer. Ø Women comprise 51% of our U.S. workforce and play a significant role in our leadership and management. Ø Women accounted for 53% of new hires in 2024. Ø Across GEO, under-represented minorities account for 69% of our U.S. workforce. Ø 7
Slide 19: Environmentally Responsible
Environmentally Responsible Ø GEO provides disclosures on energy consumption statistics, Challenges water usage metrics, and Greenhouse Gas (GHG) Scope 1 and Scope 2 Emissions and Intensity Ratios. Ø GEO has conducted Sustainability and Energy Improvement Audits at select GEO facilities. Ø As a resu
Slide 20: GEO Continuum of Care & Post-Release Services
GEO Continuum of Care® & Post-Release Services GEO Continuum of Care® focuses on GEO’s Post-Release Support Services integrating in-custody evidence-based provide case management, develop and rehabilitation and reentry programming maintain community partnerships, and coordinate and distribute transi
Slide 21: Secure Services Overview
Secure Services Overview Paul Laird, Senior Vice President, Secure Services
Slide 22: GEO Secure Services Facilities
GEO Secure Services Facilities Ø 17 Processing Centers with U.S. Immigration and Customs (ICE) across eight states Ø 12 U.S. Marshals Detention Facilities across three states Ø 14 Correctional Facilities in six states, including: § Arizona, Florida, Georgia, Indiana, New Mexico & Oklahoma Ø Internat
Slide 23: Secure Services Facilities in the U.S.
54 Secure Services Facilities in the U.S. 17 ICE Processing Centers 12 USMS Detention Facilities 14 State Correctional Facilities 6 Idle Facilities 22
Slide 24: International Services
International Services 4 International Facilities 21 Secure Transportation Depots (U.K.) Healthcare Services at 13 Public Prisons (Australia) 23
Slide 25: High Quality Support Services
High Quality Support Services Health Care Security Food Maintenance GTI 24
Slide 26: Security Services
Security Services Ø Commitment to the health and safety of our employees and those in our care, as well as contractors, medical providers and visitors at all of our facilities: Ø Operational Excellence: Strive to achieve sustained, effective levels of operational performance. Ø Individual Responsibi
Slide 27: Maintenance Services
Maintenance Services Ø Overseen by GEO’s Project Development Division, which includes subject matter experts in facility design, project management, maintenance and repair, and physical plant operations. Ø GEO facilities are maintained to be compliant with Occupational Safety and Health Administrati
Slide 28: Food Services
Food Services Ø All individuals at GEO-Contracted Facilities are provided with three high quality daily meals. Ø Menus are approved by our clients and by a registered dietician. Ø Separate menus that meet religious and dietary accommodations are also available. 27
Slide 29: Healthcare Services
Healthcare Services GEO Health Services oversees over 700,000 medical encounters annually Healthcare Services at GEO facilities independently accredited by: Ø American Correctional Association Ø National Commission on Correctional Health Care 28
Slide 30: Secure Transportation: GTI
Secure Transportation: GTI Ø GEO Transport, Inc. (GTI) provides ICE the majority of secure air and ground transportation Ø 700 licensed transportation officers Ø 675 customized, U.S. DOT compliant vehicles Ø Approximately 2,300 flight missions in 2024 29
Slide 31: ICE Processing Centers Overview
ICE Processing Centers Overview Dan Ragsdale, Senior Vice President, Contract Compliance and Administration
Slide 32: GEO's Role as a Support Services Provider
GEO’s Role as a Support Services Provider GEO’s support services include the exclusive use of GEO-Contracted Processing Centers by ICE, along with security, maintenance, and food services, as well as access to recreational amenities, medical care, and legal counsel. Security Services Ø Our goal of e
Slide 33: GEO's Role as a Support Services Provider (continued)
GEO’s Role as a Support Services Provider Access to Healthcare Ø The healthcare needs of the individuals in our care are often significant. Ø Healthcare staffing at GEO’s ICE processing centers is more than double that of GEO’s state correctional facilities. Ø All individuals in our care have coordi
Slide 34: Third-Party Accreditation
Third-Party Accreditation American Correctional Association (ACA) ØAs of 2024, GEO facilities achieved an average ACA accreditation score of 99.1%. National Commission on Correctional Health Care ØCurrently, 11 GEO-Contracted ICE Processing Centers are accredited by the National Commission on Correc
Slide 35: Meeting ICE's Performance-Based National Detention Standards
Meeting ICE’s Performance-Based National Detention Standards (PBNDS) Every GEO-Contracted U.S. Immigration and Customs Enforcement (ICE) Processing Center must comply with one of several national detention standards: Ø National Detention Standards (NDS) Ø Performance-Based National Detention Standar
Slide 36: GEO Care Overview
GEO Care Overview Wayne Calabrese, President and Chief Operating Officer
Slide 37: Organizational Structure
Organizational Structure GEO Continuum of Care Electronic Monitoring Reentry Services Reentry Services • Electronic Monitoring • Re-Entry Centers (ISAP & Criminal Justice) • Day Reporting Centers • Case Management / • Post Release Services / Compliance Continuum of Care® • Basic Education • 24/7 Sup
Slide 38: GEO Reentry Locations
GEO Reentry Locations 35 Residential Reentry Centers 98 Day Reporting Centers 37
Slide 39: Residential Reentry
Residential Reentry Ø Our residential reentry facilities use step-down levels of supervision, rewarding residents with increased freedom based on positive performance. Ø Residents progress from a controlled environment to increased community involvement as they seek work, attend appointments, rebuil
Slide 40: Day Reporting Centers
Day Reporting Centers GEO Reentry’s non-residential reentry centers and day reporting programs support correctional agencies in offering multi-phase, evidence-based treatment, accountability, links to valuable local resources, and aftercare. GEO Reentry’s approach includes: Ø Cognitive Behavioral Tr
Slide 41: GEO Continuum of Care
GEO Continuum of Care® Ø GEO Continuum of Care® focuses on integrating in-custody evidence- based rehabilitation and reentry programming with post-release services aimed at reducing recidivism. Ø 2024 Milestones: Ø 6.8 million hours of rehabilitation programming Ø 3,000 GEDs and high school equivale
Slide 42: Facilitating Transition: GEO Post-Release Support Services
Facilitating Transition: GEO Post-Release Support Services Ø GEO’s Post-Release Support Services provide case management, develop and maintain community partnerships, and coordinate and distribute transitional resources based on individual need. Ø Designed to reduce recidivism rates, increasing publ
Slide 43: BI Overview
BI Overview Isabel Yang, Executive Vice President, BI
Slide 44: BI Overview
BI Overview BI Headquarters BI Production Line Boulder, CO Boulder, CO 43
Slide 45: BI Overview
BI Overview U.S.-based Original Equipment Manufacturer (OEM) for the design, production, installation, and support of electronic monitoring devices Immigration Services Criminal Justice Ø Multiple customers at County, State, Ø Exclusive Federal Contract (ISAP) and Federal levels Ø 20+ years providin
Slide 46: BI's Technology & Services
BI’s Technology & Services Technology Overview-Internet of Things BI’s Internet of Things (IoT) is the network of physical devices that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet – for
Slide 47: BI Technology & Services Ecosystem
BI Technology & Services Ecosystem Biometric Alcohol Mobile Apps Monitoring Customer Command Central Locked GPS Down Tracking Phones Home Confinement ® BI SmartBAND 46
Slide 48: Innovation Forward
Innovation Forward 1. We anticipate five new product releases in the next 24 months with modern design and reduced cost. 2. We are implementing automation and AI to improve BI operational efficiency. 3. We are implementing advanced analytics and AI to improve customer efficiency and reduce officer w
Slide 49: ISAP Overview
ISAP Overview Fred Hamdun, Executive Vice President, Community Solutions
Slide 50: ISAP History
ISAP History 1997 2004 2014 In 1997, the Office of In 2004, ICE launched a Bl Incorporated was Inspector General (OIG) community-based awarded the ISAP III conducted a study of the supervision pilot program contract 1997 non-detained called ISAP, which started docket and found only in eight location
Slide 51: 100+ ISAP Offices, Approximately 1,000 Employees
100+ ISAP Offices Approximately 1,000 Employees 50
Slide 52: Scalable Technology & Case Management
Scalable Technology & Case Management ISAP utilizes technology and case management to support non-citizens' compliance with release conditions while on ICE’s non-detained docket High Security Medium Security Low Security GPS Bracelet Wrist Worn GPS SmartLINK Technology ® BI SmartBAND I ® BI Smartpho
Slide 53: Case Management and Community Services
Case Management and Community Services Ø For the ISAP contract, BI works with 18 non-profit organizations nationwide. Ø Since 2004, we have partnered with approximately 11,000 community- based providers. Ø These organizations and providers deliver stabilization services tailored to the demographics
Slide 54: ISAP Trends
ISAP Trends U.S. Immigration and Customs Enforcement Intensive Supervision Appearance Program (ISAP) (December 2022 – YTD2025) 400,000 376K 350,000 324K 305K 300,000 282K 253K 250,000 236K 216K 196K 196K 195K 195K 194K 190K 190K 189K 200,000 187K 187K 185K 184K 184K 184K 184K 183K 180K 178K 177K 177
Slide 55: ISAP Contract Update
ISAP Contract Update Ø BI has a long track record of delivering quality services under ISAP with bipartisan support for approximately 20 years. Ø Diversified electronic monitoring technologies paired with compliance management services delivered through a nationwide network of approximately 100+ off
Slide 56: The Potential Growth Ahead
The Potential Growth Ahead George Zoley, Executive Chairman
Slide 57: GEO's Unprecedented Growth Opportunities
GEO’s Unprecedented Growth Opportunities • Potential Increase in Secure Residential Care Facilities for ICE • Potential Increase in ISAP Program • Potential Increase in ICE Transportation 56
Slide 58: Contract Award: Delaney Hall ICE Facility
Contract Award: Delaney Hall ICE Facility Ø 15-year contract for 1,000-bed Company-Owned Facility in Newark, NJ Ø Expected to generate in excess of $60M in annualized revenues Ø 15-year value of the contract with normal cost of living adjustments estimated to be approximately $1B 57
Slide 59: Contract Award: Karnes County ICE Center
Contract Award: Karnes County ICE Center Ø Contract modification for 1,328-bed Company-Owned Karnes ICE Processing Center effective through August 2029 Ø Expected to generate approximately $79M in annualized revenues, representing incremental annualized revenues of $23M Ø Transitioning from housing
Slide 60: Contract Award: North Lake ICE Facility
Contract Award: North Lake ICE Facility Ø Entered into contract for the immediate establishment of a federal Immigration Processing Center at the Company- Owned 1,800-bed North Lake Facility in Baldwin, MI Ø Multi-year contract expected to be finalized in the next few months Ø Expected to generate i
Slide 61: Facilities Activation Potential
Facilities Activation Potential Anticipated Secure Services Facilities* Bed Count Customer Revenues Delaney Hall Facility (NJ) ICE 1,000 $60 Million Karnes County ICE Repurposing (1) $79 Million (TX) ICE 1,328 North Lake Facility (MI) ICE 1,800 $70 Million D. Ray James (GA) ICE 1,868 $66 Million---
Slide 62: Potential Increase in ISAP Program
Potential Increase in ISAP Program ISAP Program previously peaked at approximately 370K participants in December 2022 1M 450K-500K 370K 185K Current ISAP Count Prior Peak Potential Expanded Potential Estimated $250M $600M+ $1.3B+ $500M Revenue = * Estimated Revenue based on current ISAP contract ter
Slide 63: Potential Increase in Air Transportation
Potential Increase in Air Transportation An increase in the number of annual removals would generate incremental annualized revenues under GEO’s existing ICE air support services subcontract Potential Incremental Revenue = $40-$50M 500K # of Annual Removals 160K 2024 Baseline Potential 62
Slide 64: Federal Funding Update
Federal Funding Update Ø DHS recently reprogrammed approximately $485M in funding to ICE. Ø Congress recently passed Continuing Resolution which includes $440M budget increase for ICE. Ø Reconciliation process moving forward in U.S. House and U.S. Senate on two separate tracks, both providing additi
Slide 65: Quantifying the Potential Growth Ahead
Quantifying the Potential Growth Ahead Mark Suchinski, Chief Financial Officer
Slide 66: GEO Capital Investment Strategy
GEO Capital Investment Strategy GEO has made a $70M Investment Commitment to Enhance ICE Services Capabilities $47 Million $16 Million $7 Million Ramp Up Renovation of Expand Secure Production of Existing Transportation GPS Tracking Facilities Assets Devices 65
Slide 67: Asset Sales
Asset Sales GEO is exploring the potential sale of two state correctional facilities we currently operate ØTwo state correctional facilities Potential totaling approximately 3,500 Gross combined beds Proceeds of ØThe proceeds generated from asset up to $550 sales could be used to reduce debt Million
Slide 68: Potential Revenue Growth
Potential Revenue Growth $ in millions $3,500 $3.3B $250M - EM $50M - Transportation $3,000 $550M - Detention Legend $2.5B $2.4B $2,500 Secure Services EM $2,000 GEO Care International $1,500 Incremental Secure Services $1,000 Incremental EM $500 $- 2024A 2025F Potential Upside Note: Recent contract
Slide 69: Potential Adjusted EBITDA Growth
Potential Adjusted EBITDA Growth $ in millions $800 $750M+ $700 $125M - EM $5M - Transportation $600 $150M - Detention $472.5M $500 $463.5M $400 $300 $200 $100 $- Potential Upside 2024A 2025F Incremental EM Baseline Incremental Secure Services Note: 2025 forecast based on mid-point average company f
Slide 70: Potential Net Debt Reduction
Potential Net Debt Reduction $ in millions $1,800 $1.7B $1,600 $1.5B $1,400 Incremental $1,200 EBITDA and <$1B $1,000 potential asset sales can $800 reduce net debt $600 below $1.0B $400 $200 $- 2024A Potential 2025 Potential Upside 69
Slide 71: Potential Leverage Reduction
Potential Leverage Reduction $1.7B 3.7x <1.5x <$1.0B $750M+ $472.5M Baseline Adj. Current Debt Level Potential Adj. Potential Future Net EBITDA Guidance Debt EBITDA with Base Case Upside 70
Slide 72: Capital Allocation Strategy
Capital Allocation Strategy Potential Significant Increase in Free Cash Flow to Support Shareholder Value Creation Deliver Capital Fund Growth Further Debt Returns Capital Needs Reduction Ø Enhance Ø Invest in Ø Reduce Overall Shareholder Value Accretive Projects Debt and/or Facility Ø Potential Fut
Slide 73: Questions & Answers
GC@® The GEO Group, Inc. QUESTIONS & ANSWERS