Slide 1: Fourth Quarter 2024 Earnings
Fourth Quarter 2024 Earnings Chris Cartwright, President and CEO Todd Cello, CFO February 13, 2025
Slide 2: Forward-Looking Statements Non-GAAP Financial Information
Forward-Looking Statements Non-GAAP Financial Information This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of This investor presentation includes certain non-GAAP 1995. These statements are based on the current beliefs and expec
Slide 3: Agenda
1 Fourth quarter 2024 highlights 2 2025 strategic priorities 3 Fourth quarter 2024 financial results 2025 guidance and capital 4 allocation priorities @ Copyright 2025 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 3
Slide 4: Fourth quarter 2024 highlights
Fourth quarter 2024 highlights Exceeded Organic constant U.S. Markets International Prepaid $45M in guidance on currency revenue revenue +8% led revenue grew debt and revenue and +9%, by Financial double digits* for refinanced term Adjusted EBITDA +4% excluding Services and 15th straight loans to ex
Slide 5: In 2024, TransUnion delivered strong financial results while executing on business transformation
In 2024, TransUnion delivered strong financial results while executing on an ambitious business transformation Deliver Financial Commitments Transform the Business Improved revenue and Optimize global Modernize Accelerate earnings growth operating model technology innovation • 9% revenue growth*, •
Slide 6: 2025 strategic priorities build upon this momentum
2025 strategic priorities build upon this momentum to drive our next horizon of growth Deliver Financial Commitments Transform the Business Drive consistent Refine and enhance Complete U.S. and Accelerate innovation financial results in a global operating model India technology and growth across mut
Slide 7: Expect solid 2025 results in a continued stable but muted market environment
Drive consistent financial results Expect solid 2025 results in a continued stable but muted market environment Revenue Adjusted EBITDA Adjusted Diluted EPS +3.5% to +5% +3% to +6% +1% to +4% +4.5% to +6% ~(100)bps growth ~(600)bps growth headwind organic constant currency headwind from FX from FX a
Slide 8: Future revenue and earnings upside when U.S. credit volumes improve
Drive consistent financial results Future revenue and earnings upside when U.S. credit volumes improve from below-trend levels Originations (in millions) Mortgages Auto Loans 28.2 26.6 8.4 24.4 24.5 • Limited new home • Higher inventory and 6.8 inventory weighing on incentives supports 4.3 4.3 purch
Slide 9: Refine and enhance global operating model
Refine and enhance global operating model Creating a world-class global operating model to support product, geographic, and vertical growth Implemented major operating model Continuous improvement in 2025 improvements in 2024 • Local workforce reductions largely completed in • Confirm location an
Slide 10: Modernizing our technology and product platforms
Complete U.S. and India technology modernizations Modernizing our technology and product platforms to accelerate innovation and drive cost savings Customers Consolidate Product disparate point Suites and solutions into integrated product Risk Marketing Fraud Advanced Consumer Investigations Communic
Slide 11: Delivering on significant milestones toward first phase of technology modernization
Complete U.S. and India technology modernizations Delivering on significant milestones toward completing first phase of technology modernization in 2025 Milestones: Next steps: FactorTrust Launched end-to-end capabilities; Migrate remaining customers over Short-term lending bureau migrated half of c
Slide 12: Scaling innovative and global solution families
Accelerate innovation and growth across solution suites Scaling innovative and global solution families Revenue by Solution Family (FY 2024) U.S. Markets ($3.2 billion) International ($1.0 billion) Total Company ($4.2 billion) All Other All Other All Other 4% 12% Marketing 14% 1% Fraud 15% Communica
Slide 13: Accelerating innovation and growth potential across integrated solution suites
Accelerate innovation and growth across solution suites Accelerating innovation and growth potential across integrated solution suites in 2025 Today’s Spotlight Credit / Analytics Marketing Fraud Communications Consumer Unlock multibillion $ Become a recognized Be our customers’ Transform phone Empo
Slide 14: New freemium direct-to-consumer offering with Credit Sesame
Accelerate innovation and growth across solution suites New freemium direct-to-consumer offering, enabled in collaboration with Credit Sesame TransUnion-branded • Nationally-recognized brand freemium offering • Existing premium consumers • Organic consumer traffic • Operational and compliance rigor
Slide 15: Enabling a sustainable growth path for Consumer Direct
Accelerate innovation and growth across solution suites Enabling a sustainable growth path for Consumer Direct Freemium launch will complement premium credit monitoring and identity protection tools Direct entry into attractive direct-to- Deeper relationships with consumer freemium space consumers a
Slide 16: Reinvigorating Consumer Interactive with an expansive offering
Accelerate innovation and growth across solution suites Reinvigorating Consumer Interactive with an expansive offering Meet consumers where they are… Direct Indirect …and empower each consumer to meet (Consumers visiting TU’s digital properties) (Consumers engaged via TU’s partners) their individual
Slide 17: Consumer Interactive positioned for mid-single digit or greater revenue growth
Accelerate innovation and growth across solution suites Consumer Interactive positioned for sustainable mid-single digit or greater revenue growth Consumer Interactive Drivers of growth $589 million revenue (2024) • Direct – Stabilize premium base and monetize freemium channel – 2025 will be transit
Slide 18: Consolidated fourth quarter 2024 highlights
Q4 2024 Results Consolidated fourth quarter 2024 highlights Reported Y/Y ($M) Change Revenue $1,037 9% • Organic constant currency revenue growth of +9%, Organic Constant Currency Revenue 9% or +4% excluding mortgage • Strong margin expansion Adjusted EBITDA $378 16% from revenue growth and transfor
Slide 19: U.S. Markets fourth quarter 2024 highlights
Q4 2024 Results U.S. Markets fourth quarter 2024 highlights • U.S. Financial Services +21%, or +7% excluding mortgage − Card & Banking +6% Organic Reported Reported − Consumer Lending +3% FX Impact Constant ($M) Y/Y Currency − Auto +7% − Mortgage +80%, compared to inquiries +4% Revenue $792 8% – 8%
Slide 20: International fourth quarter 2024 highlights
Q4 2024 Results International fourth quarter 2024 highlights Organic • India (+18%) commercial, Reported Reported ($M) Y/Y FX Impact Constant fraud and direct-to-consumer Currency offsetting modest declines in Revenue $245 11% (1)% 12% online credit volumes Canada 39 5% (3)% 8% • U.K. (+3%) gradual
Slide 21: Planned acquisition of Trans Union de Mexico
Planned acquisition of Trans Union de Mexico, the leading consumer credit bureau in Mexico ~$145M1 of revenue in 2024F • Largest player in growing $300 million+ Mexican market; leader in credit risk with emerging presence Vertical Mix Solutions Mix in fraud and consumer solutions • Strong growth pro
Slide 22: Strong de-levering throughout 2024
Balance Sheet Strong de-levering throughout 2024 Leverage Ratio1 4.3x 4.1x • Roughly $5.1 billion of debt 3.9x 3.8x 3.6x 3.4x 3.5x 3.5x and $679 million cash at 3.1x 3.1x 3.0x quarter-end • $45 million debt prepayment in Q4; $150 million in 2024 • Average effective cost of debt (net of swaps) of 4.3
Slide 23: First quarter 2025 guidance
Financial Guidance First quarter 2025 guidance Reported Revenue: $1,060M to $1,074M +4% to +5% M&A contribution: No impact Revenue FX contribution: ~1pt. headwind • Assumes similar lending and Organic Constant Currency Revenue: +5% to +6% marketing trends to Q4 2024 Mortgage impact: ~2pt. benefit •
Slide 24: Full-year 2025 revenue guidance
Financial Guidance Full-year 2025 revenue guidance Reported Revenue: $4.333B to $4.393B +3.5% to +5% • High-end of guidance M&A contribution: No impact assumes similar FX contribution: ~1pt. headwind conditions to 2024 Organic Constant Currency Revenue: +4.5% to +6% • ~1% revenue headwind Mortgage i
Slide 25: Full-year 2025 Adjusted EBITDA, Adjusted Diluted EPS and other guidance
Financial Guidance Full-year 2025 Adjusted EBITDA, Adjusted Diluted EPS and other guidance Assumptions Adjusted EBITDA: $1.549B to $1.590B +3% to +6% • Adjusted Diluted EPS FX contribution: ~1pt. headwind headwind from FX (~2%) and higher tax rate (~4%) Adjusted EBITDA margin: 35.8% to 36.2% – Adjus
Slide 26: Bridge to 2025 Adjusted EBITDA Guidance
Financial Guidance Bridge to 2025 Adjusted EBITDA Guidance $10M ($30M) Now achieved $95M $104M annual run-rate savings Focus areas of investment: • Technology and platform enhancements • New product innovation • Incremental sales specialists $1,590M • International expansion $1,506M 2024 Adjusted EB
Slide 27: Strengthening free cash flow in 2025 and beyond
Capital Allocation Strengthening free cash flow in 2025 and beyond Free cash flow conversion Path to improving free cash flow Complete • Continue to grow revenue and earnings 95%+ remaining 90%+ Impacted by M&A transformation • Complete multi-year transformation program investments integration and ~
Slide 28: Strong free cash flow and optimized leverage enables balanced capital allocation
Capital Allocation Strong free cash flow and optimized leverage enables balanced capital allocation Prioritize growth Manage leverage Increase capital returns investments and liquidity to shareholders • Fund growth investments while • Now targeting Leverage Ratio of • Grow dividend alongside Adjuste
Slide 29: Disciplined M&A approach aligned to growth strategy
Capital Allocation Disciplined M&A approach aligned to growth strategy Strategic Focus for M&A Financial Considerations M&A is an important strategic tool, but strength of M&A evaluated against all alternatives to maximize long- portfolio creates a high bar term free cash flow per share • Ongoing tr
Slide 30: Exceeded Q4 guidance for revenue and Adjusted EBITDA
Exceeded Q4 Expecting in 2025 to 2025 priorities: guidance for revenue deliver +4.5% to +6% Refine and strengthen and Adjusted EBITDA organic constant operating model, currency revenue complete U.S. and growth India technology modernization, and accelerate pace of innovation Note: For additional inf
Slide 31: Q&A
Q&A @ Copyright 2025 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 31
Slide 32: Appendices and Non-GAAP Reconciliations
Appendices and Non-GAAP Reconciliations @ Copyright 2025 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 32
Slide 33: Completing technology modernization will drive remaining cost savings
Completing U.S. and India technology modernization will drive remaining transformation program cost savings Investments Benefits • $355-375M of one-time expenses to • $200M free cash flow benefit expected by capture benefits 2026 - $257 of one-time expenses thus far ($78M in 2023; - $120 to 140M of
Slide 34: U.S. Markets revenue composition (FY 2024)
U.S. Markets revenue composition (FY 2024) Financial Services (~$1.4 billion) Emerging Verticals (~$1.2 billion) Consumer Interactive (~$0.6 billion) Collections 6% Public Sector 5% Auto Tenant & Card & Direct 18% Employment Banking Screening Insurance 25% 31% 6% 27% Media 14% Mortgage Tech, Retail
Slide 35: Debt profile and 2025F interest expense bridge
Debt profile and 2025F interest expense bridge Debt Profile (12/31/24) 2025F Interest Expense Bridge Notional ~($8M) Expiry Rate ~($12M) ($B) ~($22M) Term Loan Tranche Term Loan A-4 1.3 Jun’29 SOFR + 1.50% $237M Term Loan B-5 0.1 Nov’26 SOFR + CSA + 1.75% ~$195M Term Loan B-9 1.9 Jun’31 SOFR + 1.75%
Slide 36: Adjusted EBITDA and Adjusted EBITDA Margin
Adjusted EBITDA and Adjusted EBITDA Margin @ Copyright 2025 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 36
Slide 37: Adjusted Net Income and Adjusted Diluted EPS
Adjusted Net Income and Adjusted Diluted EPS @ Copyright 2025 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 37
Slide 38: Adjusted Effective Tax Rate
Adjusted Effective Tax Rate @ Copyright 2025 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 38
Slide 39: Leverage Ratio
Leverage Ratio @ Copyright 2025 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 39
Slide 40: Non-GAAP Adjustment Footnotes
Non-GAAP Adjustment Footnotes As a result of displaying amounts in millions, rounding differences may exist in the tables and footnotes. 1. Consisted of amortization of intangible assets from our 2012 change-in-control transaction and amortization of intangible assets established in business acquisi
Slide 41: Non-GAAP Adjustment Footnotes
Non-GAAP Adjustment Footnotes 5. Operating model optimization consisted of the following adjustments: 6. Net other consisted of the following adjustments: 7. Consolidated Adjusted EBITDA margin is calculated by dividing Consolidated Adjusted EBITDA by total revenue. 8. Total adjustments for income t
Slide 42: Adjusted EBITDA and Adjusted EPS Guidance
Adjusted EBITDA and Adjusted EPS Guidance As a result of displaying amounts in millions, rounding differences may exist in the table. 1. These adjustments include the same adjustments we make to our Adjusted EBITDA and Adjusted Net Income as discussed in the Non-GAAP Financial Measures section of ou