Slide 1: 3rd Quarter 2022 Earnings Presentation
ion b) Kejahe 3" Quarter 2022 Earnings Presentat Al 2022 November 3
Slide 2: Disclaimer
Disclaimer Forward-looking statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not li
Slide 3: Transformation in 2022 & beyond builds on solid foundation
Transformation in 2022 & beyond builds on solid foundation 3Q22 Transformation metrics 08M aS bookings aulative 51M venue 76 Solutions ‘Cumulative total since 1Q 2021. Foundational metrics 230M people and dependents as of 12/31/21 and now reflects the addition of 6M+ Federal Thrift participants as o
Slide 4: Execution of our strategy
Execution of our strategy 1 Increased client focus on employee engagement drove new wins and expanded client relationships in 3Q * New logo wins (United Steel) & expanding relationships (BMO and AmRest) through Alight Worklife® * BPaaS bookings growth of 16.2% to $208M in TCV in 3Q; $564M in 9 Mos 2
Slide 5: Technology & Product transformation is driving outcomes
Technology & Product transformation is driving outcomes Alight Worklife now contains our indexing and benchmarking product - program optimization Here you can see how it allows the employee to build and care for their family preferences, employee is led to updated to reflect programs personalized pr
Slide 6: 3Q22 summary of consolidated results
3Q22 summary of consolidated results * Revenue growth in all Ri evenue three categories - BPaaS o revenue, Employer Total Revenue $750M $690M +8.7% Solutions and Professional Services Revenue ex-Hosted $740M $680M +8.8% * Investments in BPaaS Revenue $151M $97M +55.7% technology, go-to-market resour
Slide 7: Strong recurring revenue for Employer Solutions
Strong recurring revenue for Employer Solutions while making investments for future profitable growth Employer Solutions Employer Solutions Revenue ($M) Gross Margin Adjusted EBITDA" ($M) Ss Te.. $587 29.3% oe. $130 Recurring Project 3Q21 3Q22 3Q21 3Q22 3Q21 3Q22 * A reconciliation of this non-GAAP
Slide 8: Professional Services poised for continued project revenue improvement in 2023
Professional Services poised for continued project revenue improvement in 2023 Professional Services Professional Services Professional Services 3Q22 Highlights Revenue ($M) Gross Profit ($M) Adjusted EBITDA! ($M) * Positive revenue inflection in project revenue boosted $93 $95 profitability * Reven
Slide 9: Capital structure supported by resilient business model
Capital structure supported by resilient business model Debt Maturity Schedule as of 9/30/22 ($M)! See $2,500 2,461 Total Debt $2,832 $2,868 Less Cash $304 $372 $2,000 Net Debt $2,528 $2,496 $1,500 * Well protected in a rising rate environment with $1,000 hedging strategy * 70+% fixed rate debt port
Slide 10: 2022 guidance
2022 guidance (98% of revenue under contract)! Key Factors * AQwill benefit from higher Employer Solution project revenue linked to annual enrollment, commission businesses and new One Alight ($ millions) deals coming online 3.09 - $3.12B Revenue § +6 $3 * Professional Services closed deals and pipe
Slide 11: Appendix — Other / Non-GAAP Reconciliations
Appendix — Other / Non-GAAP Reconciliations alight
Slide 12: ESG Leadership
ESG Leadership SOCIAL ‘ay of colleagues =~ of colleagues _ of colleagues 67% are locatedin 19% are locatedin 14% — are locatedin the Americas Europe Asia In the United States: 64% of colleagues ™ of colleagues are from diverse are women racial and ethnic backgrounds Social innovation Our solutions i
Slide 13: Adjusted diluted EPS and modeling notes
Adjusted diluted EPS and modeling notes Adjusted diluted EPS bridge ($ millions) Adjusted EBITDA’ Depreciation & Amortization Interest Expense Adjusted EBT Adjusted Taxes? Adjusted Net Income Diluted O/S? Adjusted Diluted EPS 2022 $650-662M $80-85M $120-130M $432-462M $136-144M $292-326M 544M $0.54-
Slide 14: Adjusted EBITDA reconciliation 3Q22
Successor Predecessor Three Months Nine Months Three Months Ended Ended Ended Six Months Ended September 30, September 30, September 30, June 30, (in millions) 2022 2022 2021 2021 Net Loss $ (45) $ (6) $ (120) $ (25) Interest expense 31 89 28 123 Income tax benefit (20) (28) — (5) Depreciation 21 56
Slide 15: Adjusted 2021 EBITDA
Adjusted 2021 EBITDA Successor Predecessor ‘Three Months Ended Six Months Ended Six Months Ended Three Months Ended Year Ended December 31, December 31, June 30, December 31, December 31, Gn millions) 2021 2021 2021 2020 2020 2019 Net Income (Loss) $ R$ 8) | $ 25) $ (8) $ (103) $ 2 Interest expense
Slide 16: Segment Profit
Segment Profit (4) Successor Predecessor Three Months Nine Months Three Months Six Months Ended Ended Ended Ended September 30, September 30, September 30, June 30, (in millions) 2022 2022 2021 2021 Employer Solutions $ 130 $ 419 $ 151 $ 274 Professional Services 3 — 4 7 Hosted Business — (2) (2) (3
Slide 17: Adjusted Net Income and diluted EPS reconciliation
Three Months Ended Nine Months Ended Three Months Ended September 30, September 30, September 30, (in millions, except share and per share amounts) 2022 2022 2021 Numerator: Net (Loss) Income Attributable to Alight, Inc. $ (37) $ 3 $ (107) Conversion of noncontrolling interest (8) (9) (13) Intangibl