Altus Group Limited · TSX:AIF
Altus — Q3 2026 Earnings Presentation
18 slides from Altus's earnings presentation, Nov 5, 2026
Slide 1: Q3 2026 Earnings Call & Webcast
Q3 2026 Earnings Call & Webcast TSX: AIF | November 5, 2026
Slide 2: Forward-looking information & statements
Forward-looking information & statements Certain information in this presentation may constitute “forward-looking information” within the meaning of applicable securities legislation. All information contained in this presentation, other than statements of current and historical fact, is forward-loo
Slide 3: CEO remarks
CEO remarks Mike Gordon CEO & Chair 3
Slide 4: Path to value creation
Path to value creation Delivered on 2025 investor day commitments Delivering on innovation • Four consecutive quarters of • Operating leverage coming double-digit software ARR growth through – Q3 revenue up ~$9M y/y roadmap with steady on flat cost of sales and lower releases of new • Rule of 39 e
Slide 5: ARGUS Intelligence has streamlined how our team builds and maintains valuation models
ARGUS Intelligence has streamlined how our team builds and maintains valuation models, shifting time away from setup and toward the analysis itself, including sensitivity testing and assessing how current market conditions should translate to our quarterly valuations. We see ARGUS Assist as a useful
Slide 6: Q3 2026 review
Q3 2026 review Katie Royce CFO 6
Slide 7: Q3 2026 summary results
Q3 2026 summary results Steady revenue growth and margin expansion Continuing operations1 Q3 2026 % y/y change y/y change currency • 6.8% CC organic revenue growth, ex- Revenues $116.9M 6.8% Constant Currency Valos contribution & adjusting out One11 Recurring Revenue* $112.2M 7.9% Constant Currency
Slide 8: Q3 2026 revenue performance
Q3 2026 revenue performance Flagship offerings driving steady topline growth $70M $60M $50M $40M $30M $20M $10M $0M Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 2025 2025 2026 2026 2026 2025 2025 2026 2026 2026 2025 2025 2026 2026 2026 2025 2025 2026 2026 2026 Software VMS Data Servic
Slide 9: Operating metrics
Operating metrics* Fourth consecutive quarter of double-digit Software ARR growth Recurring Revenue Software ARR VMS ARR Subscriptions, VMS, Data, Recurring Services Annual value of active subscriptions TTM revenue 7.9% CC 14.9% 7.3% $112.2M $218.8M $175.0M Software NRR Software GRR VMS GLR y/y ARR
Slide 10: P&L efficiency
P&L efficiency Steady improvements, progressing towards target model As Reported Q3 2025 Q3 2026 % Change % of Revenue YoY Change Revenue $107.9M $116.9M 8.3% • Gross margin +230 bps on flat cost of sales and higher revenue Cost of sales $30.1M $29.9M (0.5%) 25.6% (230 bps) • All functional expense
Slide 11: Cash generation & balance sheet
Cash generation & balance sheet Balancing capital returns with organic growth investments Q3 2026 YTD 2026 As of Sep. 30, 2026: Cash position $94.7M Net cash provided by operating activities $10.5M (53.6%) $36.9M (27.8%) Bank debt $274.9M Free Cash Flow* $7.5M (65.8%) $31.9M (32.6%) Funded debt to E
Slide 12: Business outlook
Business outlook Introducing Q4 guidance & narrowing FY2026 guidance FY 2026 Q4 2026 CC growth rate Implied AR $ range CC growth rate Implied AR $ range 6.4% - 7.0% $457.5 – 460M Revenues 5 – 7% $119.5 – 122M (previously 5.25 – 7.25%) (previously $456-461M) 600 – 620 bps 28.8– 29% Adjusted EBITDA ma
Slide 13: CEO remarks
CEO remarks Mike Gordon CEO & Chair 13
Slide 14: SAVE THE DATE
SAVE THE DATE 2027 Investor Day planned for April 28 in New York City
Slide 15: Question period
Question period For additional inquiries please email: IR@altusgroup.com 15
Slide 16: APPENDIX
APPENDIX 16
Slide 17: Non-GAAP and other measures definitions
Non-GAAP and other measures definitions Altus Group uses certain non-GAAP financial measures, non-GAAP ratios, capital management measures, and supplementary and other financial measures as defined in NI 52-112. Management believes that these measures may assist investors in assessing an investment
Slide 18: Non-GAAP and other measures definitions
Non-GAAP and other measures definitions Capital Management Measures Free Cash Flow: Altus Group uses Free Cash Flow to understand how much of the cash generated from operating activities is available to repay borrowings and to reinvest in the Company. How it’s calculated: Net cash provided by (used