Equifax, Inc. · NYSE:EFX

Equifax — Investor Day (2025)

110 slides from Equifax's investor day presentation, 2025

1. Slide 1: Mark Begor, Chief Executive Officer

   Mark Begor Chief Executive Officer

2. Slide 2: Forward-looking Statements

   Forward-looking Statements This presentation contains certain forward-looking information, including 2025 guidance and our long-term financial framework, to help you understand Equifax and its business environment. All statements that address operating performance and events or developments that we e

3. Slide 3: Non-GAAP Disclosure Statement

   Non-GAAP Disclosure Statement This presentation contains certain non-GAAP financial measures, including Adjusted EPS, Adjusted EBITDA, and Cash Conversion, which reflect adjustments for certain items that affect the comparability of our underlying operational performance. Adjusted EPS is defined as net

4. Slide 4: The NewEFX Strategic Priorities

   The NewEFX Strategic Priorities STRATEGIC PRIORITIES ✓ 7-10% Organic Growth ✓ 1-2 pts Revenue Growth from Bolt-on M&A ✓ 8-12% Total Revenue Growth ✓ 50 BPs Margin Expansion / Year ✓ Investing ~$1B / Year in Growth CapEx and Bolt-on M&A ✓ ~$1B+ / Year Returned to Shareholders in Dividend Growth and B

5. Slide 5: The NewEFX… Faster Growing, Higher Margins

   The NewEFX… Faster Growing, Higher Margins Total YOY C$ % Revenue Growth EFX Growth Engines 10% 8-12% ✓ Post-Cloud Leverage 6% ~6% 4% ✓ More Data… EFX and Partners ✓ Innovation and NPIs ✓ AI-powered Solutions Non-Mortgage ✓ Multi-Data Solutions… The Work Number® YOY C$ % Revenue Growth Report Indica

6. Slide 6: The NewEFX LT Financial Framework

   The NewEFX LT Financial Framework LTFF Rev Growth LT Financial Framework NewEFX Organic revenue growth 7-10% EWS M&A contribution 1-2% 13-15% Total growth 8-12% USIS EBITDA% margin improvement +50 bps 6-8% INTL Cash EPS growth 12-16% 7-9% Dividend yield ~1% VI Annual shareholder return 13-18% 10% Ca

7. Slide 7: Penetration in Big TAMs and EFX Growth Levers Driving Top Line

   Penetration in Big TAMs and EFX Growth Levers Driving Top Line $50B+ Big EFX Penetration / Share Plays TAM Government $5B Talent $5B ID & Fraud $19B $17B USIS Credit w/ TWN Indicator ++ NPI and Innovation ++ EFX.AI™ ++ Traditional NewEFX Credit Bureau NewEFX Focused on a ~3x Larger Market PROPRIETAR

8. Slide 8: Big Market Trends Favor EFX

   Big Market Trends Favor EFX EFX Growth Levers Cloud Scale Market Share / Customer Key Macro Trends Trend Native Data Growth Penetration Engagement Digital… Always On ++ ✓ More Data ++ ✓ ✓ Innovation, NPI ++ ✓ ✓ ✓ ✓ AI Driving Performance ++ ✓ ✓ ✓ ✓ Government Growth ++ ✓ ✓ ✓ Talent Growth ++ ✓ ✓ ✓ ✓

9. Slide 9: Invested $3B Over Past 7 Years in EFX Cloud

   Invested $3B Over Past 7 Years in EFX Cloud The Equifax CloudTM ✓ New Cloud-native Tech ✓Always-on stability ✓ EFX.AI powering solutions ✓ Single Data Fabric ✓ Global Platforms ✓Speed and performance ✓Multi-data solutions ✓ Products in Cloud ✓Real-time insights and data fabric ✓More data – partners

10. Slide 10: Scale, Differentiated EFX Data Assets

    Scale, Differentiated EFX Data Assets U.S. business identities 67M+ Individuals in EFX Data Assets Commercial Commercial tradelines 180M+ Leasing tradelines 15M+ 245M+ Merchants 2.5M+ Merchant Data Network Annual transactions $1.6T+ 200M+ Incarceration Records ~200M Payment transactions ~18B Consumer

11. Slide 11: Innovation Accelerating Post-Cloud

    Innovation Accelerating Post-Cloud Vitality Up 2X Post-Cloud NPI in EFX DNA ✓ More differentiated data... EFX and Partners 10% LT Goal ✓ Multi-data... TWN Indicator ✓ EFX.AI driving performance lifts ✓ Trended, historical data ✓ Orchestrated solutions ✓ Multi-market products... expand across geograph

12. Slide 12: EFX.AI Delivering Higher Performance and Growth

    EFX.AI Delivering Higher Performance and Growth AI Algorithms Big Performance Lifts1: Better at predicting risk and reducing fraud ✓ EFX.AI (U.S.) OneScore Consumer (U.S.) OneScore Commercial (Global) Omniscore ✓ Unique explainable solutions 35% Improvement in ✓ 300+ AI patents granted fraud capture

13. Slide 13: Bolt-on M&A to Strengthen EFX Core

    Bolt-on M&A to Strengthen EFX Core Clear Bolt-on M&A strategy and criteria 2018 1. Differentiated, proprietary data assets 2019 2. Strengthen and broaden EWS Strategic 3. Grow in ID & Fraud Priorities 2020 4. International Platforms 2021 1. Accretive revenue and margins Accretive 2. EPS accretive 202

14. Slide 14: CapEx Declining with Cloud Completion… NPI Investments Expanding

    CapEx Declining with Cloud Completion… NPI Investments Expanding CapEx Investment 11% NewEFX 9% 8% CapEx Investments % of Revenue 6% 6-7% Transformation / Infrastructure Product / Platform Other Pre-Cloud 2023 2024 2025G CapEx $185M $585M $496M ~$480M NPI Leveraging EFX Cloud a Key Driver to Future

15. Slide 15: Strong Post-Cloud FCF Drives Investment in EFX and Cash to Shareholders

    Strong Post-Cloud FCF Drives Investment in EFX and Cash to Shareholders Long Term Capital Free Cash Flow Allocation Framework NewEFX Maintain strong 2.5 - 3x leverage $1.6B+ balance sheet Invest in EFX growth $1-$1.2B/year Investment in EFX Growth - CapEx for growth 6-7% of revenue (~$500M+/yr) ~$90

16. Slide 16: ~$1.2B Incremental Growth from Mortgage Market Recovery

    ~$1.2B Incremental Growth from Mortgage Market Recovery EFX Mortgage Hard Credit Inquiries ~$1.2B Opportunity When Down ~50% vs. 2015-19 Mortgage Market Recovers2 Mortgage Market Credit Inquiries – Hard Pulls1 ~$2.4B ~$1.2B opportunity ~$1.2B Investing on Right Levers for EFX Growth... Mortgage Reco

17. Slide 17: Subscription Revenue Growing

    Subscription Revenue Growing Subscription Revenue ~$6.0B Subscription Revenue Total EFX Revenue $5.1B 25%+ ~65% EWS Growth Led by EWS CAGR ~20% INTL Subscription ~20% ~14% ~15% USIS (% of total revenue) ✓ Government, Talent, Employer Services Non-subscription ~80% <75% ✓ Consumer subscription (% of

18. Slide 18: Consumer Friendly at Every Touch Point

    Consumer Friendly at Every Touch Point Reimagined Credit Report New myEquifax™ App Optimal Path™ Premier Regulated Dashboard Dashboard Solve Consumer Problems, Drive Engagement PROPRIETARY PROPRIETARY | 19

19. Slide 19: Strong NewEFX Growth

    Strong NewEFX Growth The NewEFX EFX Growth Engines Revenue, ~$10.8B+ ~12.5% CAGR ✓ Post-Cloud Leverage % Revenue Growth ~$9.6B+ vs. 2025G ~10% CAGR ✓ More Data… EFX and Partners vs. 2025G MTG Recovery ✓ Innovation and NPIs ~$6B+ ✓ AI-powered Solutions ~5% vs. 2024 $4.1B ✓ Multi-Data Solutions… TWN I

20. Slide 20: NewEFX Leadership

    NewEFX Leadership Mark Begor Julia Houston Chad Borton Carla Chaney Trevor Burns Jamil Farshchi John Gamble Chief Executive Officer Chief Legal Officer President Chief Human Senior Vice President Chief Technology Officer Chief Financial & Workforce Solutions Resources Officer Corporate Investor Relations Op

21. Slide 21: NewEFX

    NewEFX 1 Confident in 8-12% LT Financial Framework and 50 BPs annual margin expansion 2 Cloud delivering competitive advantage and New Products powered by EFX Differentiated Data and EFX.AI 3 New OnlyEquifax™ solutions combining The Work Number and Credit 4 Strong EWS Growth and Margins in big Governm

22. Slide 22: NewEFX Investor Day Speakers

    NewEFX Investor Day Speakers Jamil Farshchi Harald Schneider Cecilia Mao Chad Borton Chief Technology Officer Chief Data & Analytics Officer Chief Product Officer President Workforce Solutions Joel Rickman Patricio Remon John Gamble GM U.S. Mortgage and Verifier President Chief Financial & International Op

23. Slide 23: Jamil Farshchi

    Jamil Farshchi Chief Technology Officer

24. Slide 24: Cloud-native D&A Company Pivoting from Building to Leveraging Cloud

    Cloud-native D&A Company Pivoting from Building to Leveraging Cloud ~90% 2025 2024 Peru, Spain, UK (Consumer) ✓ 100+ siloed data repositories to UK (Commercial) USIS a single data fabric 2023 Canada ✓ Decommissioned 8 mainframes, 2022 39 data centers, and 3,500+ 2021 EWS applications – decades of le

25. Slide 25: Single Data Fabric – One Global, High-Quality Data Platform

    Single Data Fabric – One Global, High-Quality Data Platform, Structured to Accelerate AI Value Data fabric unifies the enterprise’s data (from 100+ data silos) in a single, virtual structure. While preserving data segregation for compliance with regulatory requirements, the structured pipelines smoot

26. Slide 26: EFX.AI Connects Data and Platforms

    EFX.AI Connects Data and Platforms ✓ Built on EFX Cloud to enable Analytics Automated Deployment Activation more reliable, secure, and Ignite InterConnect faster solutions Implement and Activate Strategy AI-powered Peer & Industry ✓ Leveraging data fabric to create Insights Benchmarking deeper, mult

27. Slide 27: Always-on Stability for Customer Digital Delivery

    Always-on Stability for Customer Digital Delivery Better Availability 99.99% Recently, UK reached 99.70% Peak Loads Handled Seamlessly for Customers ~30x better availability > 15B Observations per Day after EFX Cloud transformation Improved Stability Globally, accelerated 25% faster response for inc

28. Slide 28: Improved Speed and Performance

    Improved Speed and Performance ~5x faster data transmission ✓ Cloud-native tool chain to build faster on the EFX Cloud: Continuous (blue/green) deployments, Infrastructure as Code, MLOps, secure golden paths 68% faster mortgage processing ✓ Push-button (automated build/test/deploy) pipelines ✓ Self-

29. Slide 29: Built-in Security

    Built-in Security ✓ Security built into technology and products Industry Leadership (e.g., security infra-as-code; hardened images) ✓ Open-sourcing, transparent Equifax Maturity score (e.g., CloudControl, controls framework) Financial Services outpaced all Insurance ✓ Security goals for every employ

30. Slide 30: Building the EFX Cloud for the Future

    Building the EFX Cloud for the Future What’s Next for EFX Cloud ✓ Share gains from always-on and speed EFX Cloud ✓ NPI and Vitality ✓ EFX.AI powered solutions ✓ Multi-data and multi-market solutions ✓ More data and faster ingestion ✓ Industry leading security ✓ Built for the future EFX Cloud Driving

31. Slide 31: Harald Schneider

    Harald Schneider Chief Data & Analytics Officer

32. Slide 32: EFX D&A Team: High-Impact Talent Advantage

    EFX D&A Team: High-Impact Talent Advantage Data and Analytics Talent in EFX D&A Team 1,000+ Global resources, all using 10+ Years experience of developing cloud-native tools proprietary AI 400+ With advanced degrees 300+ AI patents granted or pending 1,800+ Employees with AI training Commercial Tech

33. Slide 33: Differentiated Data and EFX.AI Drive Scaleable Competitive Advantages

    Differentiated Data and EFX.AI Drive Scaleable Competitive Advantages Leveraging the EFX Cloud and our differentiated data assets, we are applying an AI-first approach across the enterprise Differentiated Data AI Capabilities Consumer & Commercial (Individuals in EFX Data Assets, Wealth) ● Custom built

34. Slide 34: Cloud-native K&L Improves Hit Rates and Accuracy

    Cloud-native K&L Improves Hit Rates and Accuracy Keying & Linking: accurately linking diverse data to unique entities, such as consumers or businesses, through proprietary AI-powered algorithms operating on Equifax extensive data assets Hit Rate Improvement Case Studies in Cloud (Cloud-native data f

35. Slide 35: Differentiated Data + EFX.AI = Better Predictiveness

    Differentiated Data + EFX.AI = Better Predictiveness Applying our AI capabilities to our unique data has already resulted in significant performance improvements (U.S.) OneScore Consumer (U.S.) OneScore Commercial (AUS) OneScore Consumer lift with AI for thin files lift with AI lift with AI (U.S.) OneS

36. Slide 36: EFX Delivering Performance Through Expanded EFX.AI Innovation

    EFX Delivering Performance Through Expanded EFX.AI Innovation, Leveraging EFX Cloud and Differentiated Data Assets Models Using AI %1 AI NPI %2 AI Vitality Index %3 ~100% ~86% ~58% ~75% 26% 26% 2023 2025 2023 2025 2023 2025 Providing better predictiveness Leveraging AI in products for better Continuo

37. Slide 37: Cecilia Mao

    Cecilia Mao Chief Product Officer

38. Slide 38: NPIs Driving Growth and Customer Position

    NPIs Driving Growth and Customer Position Vitality Index ✓ Vitality measured with rigorous criteria of NPI qualification 10% ✓ Monthly reporting by Business, Vertical, Country ✓ Culture of Innovation reinforced by MBOs and compensation ✓ Reviewed quarterly with Board and Investors Increased Product R

39. Slide 39: Innovation and NPIs Owned by Entire EFX Team

    Innovation and NPIs Owned by Entire EFX Team Looking for innovation to drive better performance, Product Customer higher approval rates, lower losses, improved ROI Team Resources Product Leads product development with ~600 Team voice of customer Technology D&A Team EFX Team Commercial Links customer

40. Slide 40: EFX Cloud, Single Data Fabric and Global Platforms Unleash Product Opportunities

    EFX Cloud, Single Data Fabric and Global Platforms Unleash Product Opportunities EFX Data Fabric EFX Tech Platforms / Products EFX Product Verticals Income & Employment Marketing InterConnect Credit Ignite EFX Solutions Identity Telco & Utility EFX.AI Originations Fraud Incarceration Data Products F

41. Slide 41: Ignite / InterConnect… Core Global Analytics and Decisioning Platforms

    Ignite / InterConnect… Core Global Analytics and Decisioning Platforms Driving Product Innovation Full suite of analytic and decisioning global platforms Equifax Ignite and capabilities with embedded AI capabilities, driving ✓ Rapid access to multi-source data, More predictive insights to business p

42. Slide 42: EFX Cloud and Product DNA Driving Speed and Scale of Innovation

    EFX Cloud and Product DNA Driving Speed and Scale of Innovation Vitality Index Up 2X NPIs Launched Up 60% (% of Revenue from NPIs) (# NPIs / year) ~ < Speed to Market Improved by ~60% USIS Multi-Data Products at ~50% Multi-Market Products Up 3x (Days) (% Total products) (% Total products) ~ ~ ~ Mini

43. Slide 43: EFX Differentiated Data and EFX.AI Drive Product Performance

    EFX Differentiated Data and EFX.AI Drive Product Performance Product Features 1 More differentiated data Higher impact for customers 2 Multi-data… Credit + The Work Number ✓ Faster time to value 3 EFX.AI ✓ Higher approval rates 4 Trended, historical data ✓ Lower losses 5 Orchestrated solutions ✓ Lower

44. Slide 44: Product Showcases

    Product Showcases M M M ® m ul m ul m ul Kount 360 ar ti- OneScore ar ti- Optimal Path™ ar ti- ke ke ke t t t An identity, payments, and AML Next-generation risk score pairing Personalized, AI-driven solution compliance platform that brings industry-leading, traditional consumer empowering consumers

45. Slide 45: Chad Borton

    Chad Borton President, Workforce Solutions

46. Slide 46: Workforce Solutions Driving 13-15% Long-term Growth

    Workforce Solutions Driving 13-15% Long-term Growth Revenue Growth Drivers 1 Big Growth Verticals: Government and Talent NewEFX ~$2.6B Penetration: $15B TAM primarily replacing $2.4B 13-15% 2 $2.3B $2.3B Annual Growth manual verifications $2.0B 3 Records: Growth via partners, direct records, and cons

47. Slide 47: Workforce Solutions Strategic Approach

    Workforce Solutions Strategic Approach Equifax helps people live their financial best. Workforce Solutions delivers people data that powers the moments that matter most. From accessing gov’t benefits to buying a new home or car, securing a new job, or staying safe in their community. Customer-centric,

48. Slide 48: Growth Verticals in Big TAMs – Government and Talent

    Growth Verticals in Big TAMs – Government and Talent Big $15B TAM Equifax Manual / No Verifications / Other Players $15B Government $5.0B ~15% 85% Talent Solutions $5.0B ~10% 90% Employer ~$12B Services $2.0B ~20% 80% X% X% Mortgage & 60% $1.5B ~40% Housing ~$2.6B Lending $1.5B ~20% 80% EFX Total $15

49. Slide 49: Fast Growth Outside Financial Services and Growing Subscription Revenue

    Fast Growth Outside Financial Services and Growing Subscription Revenue ~$2.6B Vertical Diversity Revenue Diversity Mortgage Lending Talent Solutions Financial Non- Institutions Subscription1 Financial Employer Services Institutions Transactional Government Diverse Revenue Portfolio Between Financia

50. Slide 50: Unique Dual-sided Business Model Driving Growth

    Unique Dual-sided Business Model Driving Growth Supply Networks Digital and Data Capabilities Demand Networks and Services 751M The Work Number Records 500M The Work Number Inquiries 4.4M Contributors Inquiries 70M New Hires 770M Incarceration & Court Records 90M Government Benefit Recipients Allianc

51. Slide 51: The Work Number Delivers Speed, Accuracy, and Productivity

    The Work Number Delivers Speed, Accuracy, and Productivity Verifications Powered by The Work Number Count on The Work Number The Work Number provides an to Deliver FCRA-governed and frictionless process that delivers significant value for all ✓ Speed to decision-making stakeholders ✓ Accuracy harnessi

52. Slide 52: Strong Record Growth for The Work Number

    Strong Record Growth for The Work Number The Work Number Active Records (M) CAGR Key Growth Drivers 12% ✓ Dedicated Data Acquisition Team ✓ Expanding to over 60+ Data Partnerships ✓ Growing 13K Direct Employer Contributors Total Records 371M 419M 463M 537M 604M 657M 734M 751M Active SSNs 73M 84M 91M

53. Slide 53: Long Runway for The Work Number Record Growth

    Long Runway for The Work Number Record Growth Record Opportunity 250M Overview of Records Opportunity Non-working ✓ Strong Position in Traditional Income Income ✓ Progress on Pension Income Pension 191M ✓ Significant Growth Opportunity: Records Non-traditional Income ○ Non-traditional, e.g., 1099/gig

54. Slide 54: Long Runway for The Work Number Record Growth

    Long Runway for The Work Number Record Growth Record Opportunity 250M Current Records Non-working ✓ Active records reflect how employers Income report employees Pension 191M ✓ Current records have been paid in the Records last 35 days Non-traditional Income ✓ Current records more closely aligns 111M

55. Slide 55: Innovation and NPI Fueling Growth

    Innovation and NPI Fueling Growth Workforce Solutions Vitality Index NPI Focus 24% 23% NewEFX 1 Elevating our investment in Product Management 15% 14% 2 Expanding Voice of Customer 10% Programs 3 Driving Co-Innovation with customers 4% 4 Leverage Differentiated Data Assets including historical data S

56. Slide 56: Government Growth Potential in Big $5B TAM

    Government Growth Potential in Big $5B TAM $5B Growth Drivers ✓ Leverage The Work Number’s compelling value proposition ○ Mitigates $162B in improper payments ○ Drives operational cost savings, reduces Federal administrative burden ✓ Penetrate using established footprint across federal, state and lo

57. Slide 57: Strong DC Focus on $162B in Improper Payments

    Strong DC Focus on $162B in Improper Payments $162B in Improper Payments Current Administration Focus Medicare on Efficiency $54.3B Medicaid Medicaid ✓ Community Engagement (i.e., work) requirements 19% $31.1B ✓ Tighten income verification requirements 34% Earned Income Tax Credit (EITC) ✓ Consistent d

58. Slide 58: Elevated Focus on Penetration of State Social Service Agencies

    Elevated Focus on Penetration of State Social Service Agencies 90M Unique Recipients Focus on State Penetration ✓ Experienced team of local Account Program # of Recipients Executives nurturing and expanding opportunity across 250+ state programs Medicaid/CHIP 48M ✓ Dedicated Government Relations Sup

59. Slide 59: New Government Solution: Complete Income

    New Government Solution: Complete Income™ Integrated Workflow for Non-traditional Income from Bank Transaction Data PROPRIETARY PROPRIETARY | 60

60. Slide 60: Big Talent Growth Potential in $5B TAM

    Big Talent Growth Potential in $5B TAM Talent Growth Drivers $5B ✓ Drive verification of employment penetration through increased employer usage ✓ Deploy new pricing constructs to incentivize adoption of additional products ✓ Partner with Background Screeners to bring new products to market, includin

61. Slide 61: Innovation in Talent: Smart Screen

    Innovation in Talent: Smart Screen™ FCRA-governed Consumer Report Leverages an expansive U.S. incarceration network covering: ~200M incarceration records from over 2,800 county jails and over 2,200 courts With data updated as frequently as every 15 minutes Provides a Near-Instant Consumer Report Ind

62. Slide 62: Employer Services: Significant Opportunity in $2B TAM

    Employer Services: Significant Opportunity in $2B TAM $2B Employer Growth Drivers ✓ UC, I-9, WOTC, ACA, ... ✓ Amplify and scale PeopleHQ® – an integrated, consumer-inspired platform for Employer solutions ✓ Drive revenue by integrating solutions within Payroll, HCM, and Benefit Admin platforms ✓ Accel

63. Slide 63: I-9: Simple, Flexible Completion Options Power Growth

    I-9: Simple, Flexible Completion Options Power Growth Section 2 Completion with I-9 Anywhere I-9 Virtual Transactions In-Person Completion Virtual Completion 300K New hires select New hires have a live video call with a trained completer from thousands of at our U.S.-based call center, during conven

64. Slide 64: Big Mortgage & Housing Growth in $1.5B TAM

    Big Mortgage & Housing Growth in $1.5B TAM $1.5B Mortgage Growth Drivers ✓ Expand our existing connector capabilities to support lender workflows ✓ New product offerings to allow lenders greater customization to match their underwriting process ✓ Unique OnlyEquifax™ capabilities driving increased ~$0.

65. Slide 65: Workforce Solutions Driving 13-15% Long-term Growth

    Workforce Solutions Driving 13-15% Long-term Growth Revenue Growth Drivers 1 Big Growth Verticals: Government and Talent NewEFX ~$2.6B Penetration: $15B TAM primarily replacing $2.4B 13-15% 2 $2.3B $2.3B Annual Growth manual verifications $2.0B 3 Records: Growth via partners, direct records, and cons

66. Slide 66: U.S. Information Solutions

    NewEFX 2025 INVESTOR DAY © 5 = ) « b Pe HK %s bo S-<f® # U.S. Information Solutions |

67. Slide 67: USIS Driving 6-8% Growth

    USIS Driving 6-8% Growth Revenue Growth Drivers NewEFX ✓ Post-Cloud share gains... Always-on ~$2.0B 6-8% stability, speed, performance $1.9B $1.8B $1.7B $1.7B ✓ TWN Indicator for Mortgage, Auto, P-Loans, and Card credit files ✓ Accelerate NPI and Vitality to 10% ○ Data combinations ○ AI-powered score

68. Slide 68: Broad-based Growth Verticals

    Broad-based Growth Verticals USIS Verticals LT Growth vs. USIS 6-8% ~$19B Applicable Verticals Consumer/ D2C + B2B2C, D2C Identity & Fraud + FI, Fintech, Mortgage, Retail, Telco, Insurance, Auto, Government ~$2B Commercial/ SMB + FI, Fintech, Telco Consumer/D2C + Identity & Fraud Commercial/SMB Mort

69. Slide 69: USIS Pivoting from Building to Leveraging the EFX Cloud

    USIS Pivoting from Building to Leveraging the EFX Cloud Pre-Cloud USIS USIS in the EFX Cloud ✓Always-on stability ✓ EFX.AI powering solutions ✓ Legacy technology ✓ Siloed data assets ✓Speed and performance ✓Multi-data solutions ✓ Slower time to market ✓Real-time insights and data fabric ✓More data –

70. Slide 70: USIS Data Competitive Advantage

    USIS Data Competitive Advantage Reputation Credit & Capacity 245M+ consumers • Education and licensure • Debt and payment history Core Credit: 3.5B+ tradelines • Government watchlists • Telcom, utility, rent bills • Criminal activity • Job status, salary 200M+ consumers • Business licenses • Collect

71. Slide 71: Innovation and NPIs Ramping Post-Cloud

    Innovation and NPIs Ramping Post-Cloud USIS Vitality Index (%) USIS Product Suite Includes… TWN Indicators, OneScore, Kount 360, Optimal Path, Ignite, OneScore for AltFi, Credit Risk Insights, etc. 10% LT Goal Telco Velocity Indicator Real-time Alerts Comprehensive fraud prevention tool Empowers bus

72. Slide 72: Strong Customer Cloud Feedback

    Strong Customer Cloud Feedback Leading Top 5 Top 3 Top 3 Major Personal Card Financial Regional Utility Finance Issuer Institution Bank Company Company 50% improvement Moved online 43% response time 21% bank card 10%+ increase in response time to EFX due to Data improvement approvals increase in app

73. Slide 73: Joel Rickman

    Joel Rickman GM U.S. Mortgage and Verifier

74. Slide 74: OnlyEquifax... Power of USIS and EWS

    OnlyEquifax... Power of USIS and EWS Workforce Solutions U.S. Information Solutions + Achieving unparalleled The Work Number & TotalVerify Consumer & Commercial Data value by aligning our differentiated data to… Credit & Core Credit Deliver comprehensive Capacity customer-centric solutions Identity W

75. Slide 75: OnlyEquifax: A Unifying Cross-EFX Strategy

    OnlyEquifax: A Unifying Cross-EFX Strategy Fueling Revenue and Market Expansion Customer-Centric Culture More than a program, it’s a connected portfolio built on Inn t ov n data, powered by the EFX Cloud, me ati gn ve and aligned across verticals to Ali So er lut drive smarter decisions OnlyEquifax

76. Slide 76: OnlyEquifax: Most Comprehensive View of Customer Wallets

    OnlyEquifax: We Set the Bar for the Most Comprehensive View of Customer Wallets Know your customers better than ever from the first interaction. Asset & Wealth Digital Identity $622,000 Confirmed device estimated net belongs to Thomas worth Consumer Credit 726 Credit Score Income & Employment 13 Total

77. Slide 77: EFX Data Advantage: What a Lender Sees Changes Everything

    EFX Data Advantage What a Lender Sees Changes Everything Natalie applies for credit with 2 Credit Only Equifax Full Data Suite different lenders. (1st Lender Sees) (2nd Lender Sees) Name: Natalie Citizen Natalie Citizen The 1st lender saw Address: 123 Main St, Town, USA, 12345 123 Main St, Town, USA,

78. Slide 78: Driving Faster, Smarter Lending Decisions with Verified Data

    Driving Faster, Smarter Lending Decisions with Verified Data Across Mortgage and Auto Mortgage PreQual Solution The Work Number Auto Dealer Solution Delivered alongside the Equifax Soft Pull credit report at no Delivered alongside the Equifax Soft or Hard Pull credit report additional fee at no addit

79. Slide 79: OnlyEquifax Solutions Reimagine What's Possible

    OnlyEquifax Solutions Reimagine What’s Possible The Work Number Indicator Solutions The Work Number The Work Number The Work Number Indicator P-Loan Indicator Mortgage Indicator Auto and Card Business Collection Consumer Undisclosed Decision Verification Score Engagement Suite Debt Monitoring Strateg

80. Slide 80: Patricio Remon

    Patricio Remon President, International

81. Slide 81: INTL Driving 7-9% Growth

    INTL Driving 7-9% Growth Revenue1 Growth Drivers NewEFX ~$1.4B ✓ Leading positions in growth markets $1.4B 7-9% $1.2B ✓ Differentiated data $1.1B $1.1B ✓ Completing Cloud ✓ Strong NPI DNA ✓ Cross-market product leverage in Cloud ✓ EFX BVS growth in big Brazil market ✓ Bolt-on M&A in new markets and t

82. Slide 82: Broad Geographic Position in 23 Markets

    Broad Geographic Position in 23 Markets Revenue 2025 EFX International Markets ~$1.4B ~$0.3B Canada ~$0.3B APAC Brazil & ~$0.4B LATAM ~$0.4B Europe Highlighted Country = EFX Market Dot = EFX office Note: This slide contains forward-looking information, including 2025 guidance. Actual results may differ

83. Slide 83: Diversified Lines of Business

    Diversified Lines of Business Revenue 2025 Key Solutions ~$1.4B ✓ Consumer: InterConnect, Equifax Ignite, Lead Gen Insights, D2C Affordability Solutions, Vertical Scores, Portfolio ID & Fraud Management, Collections Insights Debt Mgmt ✓ Commercial: Lending Use Cases, Third Party Risk Commercial Manage

84. Slide 84: Data Advantages Drive Revenue Growth

    Data Advantages Drive Revenue Growth CANADA UK Diversified and differentiated sources of data exist today in all geographies INDIA SPAIN Data fabric for easier ingestion of new data, facilitating diversification LATAM and differentiation AUSTRALIA / NZ Keying and Linking to BRAZIL maximize use of the da

85. Slide 85: NPIs Driving Customer Connections and Top-Line Growth

    NPIs Driving Customer Connections and Top-Line Growth Multi-Market NPI Launches One Score (AUS) Affordability (UK) Leverages patented EFX ML techniques EFX Cloud + AI + differentiated and including NeuroDecision Technology (NDT) consented data drives +37% in lift ~45% +1,500 bps Delivers 8% KS lift re

86. Slide 86: EFX BVS Fueled for Growth in Fast-Growing Brazil Market

    EFX BVS Fueled for Growth in Fast-Growing Brazil Market 2025 Revenue and Market EFX BVS Advantages ✔ Large market growing double digits annually $2.6B ✔ Growth rates accelerating since acquisition ✔ Building data differentiation with ACSP (4M records) and other data partnerships ✔ Winning with models

87. Slide 87: John Gamble

    John Gamble Chief Financial & Operations Officer

88. Slide 88: Strong 6% C$ Revenue Growth in Challenging Mortgage and Hiring Macro

    Strong 6% C$ Revenue Growth in Challenging Mortgage and Hiring Macro… Unchanged from April EWS USIS INTL U.S. Mortgage ~7%+ ~5%+ ~7% C$ ~6% Stable Lending Non-Mtg Verifier 9%+ LATAM consistent DD USIS inquiries -12% revenue growth Mortgage 8%+ Government DD 2H25 Third Party vendor pricing Talent up M

89. Slide 89: NewEFX… Strong 2025 Financial Performance

    NewEFX… Strong 2025 Financial Performance FCF ~$900M Cash +11% Adj EPS Conversion $7.45 95% Adj +2% EBITDA +25 bps Strong Free Cash Flow of ~$900M Enabling +28% Dividend Increase, Share Repurchases Note: This slide contains forward-looking information, including 2025 guidance. Actual results may diff

90. Slide 90: Strong 9%, $2B Non-Mortgage Growth Since 2019

    Strong 9%, $2B Non-Mortgage Growth Since 2019 Non-Mtg Revenue Non-Mtg Growth Since 2019 ~$4.8B ~$2.0B Non-Mtg ~$0.2 Other INTL CAGR ~$2.0B ~9% ~$0.2 Brazil $2.8B ~$0.4 Talent EWS $0.7B ~$1.4B ~$0.6 Government $1.0B INTL ~$1.4B Other Non-Mtg1 USIS $1.1B ~$0.6 2019 2025 Guide 1. Other non-mtg revenue

91. Slide 91: NewEFX LT Growth Framework

    NewEFX LT Growth Framework LTFF Rev Growth1 LT Financial Framework NewEFX EFX Growth Drivers ✓ EFX Cloud Organic revenue growth 7-10% ✓ Differentiated data EWS M&A contribution 1-2% ✓ Single data fabric 13-15% Total growth 8-12% ✓ EWS growth and margins ✓ NPI acceleration / VI USIS EBITDA% margin imp

92. Slide 92: EFX Mortgage Delivers Revenue @ LTFF w/ No Mortgage Market Recovery

    EFX Mortgage Delivers Revenue @ LTFF w/ No Mortgage Market Recovery – Significant Upside with Mortgage Market Recovery 2030 Mortgage Scenario Revenue 2030 Mortgage Scenario Revenue (No Recovery) (Recovery to 2015-2019 Avg Volumes) ~$3.0B EWS (~20% CAGR vs 2025) ✓ $1.2B mortgage market 13M ~$1.2B over

93. Slide 93: EFX Delivers Revenue @LTFF w/ No Mortgage Market Recovery

    EFX Delivers Revenue @LTFF w/ No Mortgage Market Recovery Significant Upside with Full Mortgage Market Recovery 2030 Scenario Revenue w/ No US Mtg Mkt Recovery 2030 Scenario Revenue 85% organic | 15% Acquisition Organic Growth Drivers Mtg Mkt Recovery to Avg ~$9.6B ~$10.8B ~8.5% Org ~11% Org Acquisit

94. Slide 94: 50 BPs EBITDA Margin Expansion/year to 35%

    50 BPs EBITDA Margin Expansion/year to 35% with No Mtg Mkt Recovery in 2030 … ~37%+ with Mtg Mkt Recovery EBITDA Margin (%) ~200+ bps ~250 bps +25 bps ~37%+ Growth Drivers ~35% ✓ High gross 32.3% ~32.6% margin revenue growth ✓ Fixed cost leverage ✓ Cloud efficiency ✓ NPI / VI 2024 2025 2030 No Mtg 203

95. Slide 95: Strong EPS Growth Driven by Margin Expansion and Share Repurchases

    Strong EPS Growth Driven by Margin Expansion, Normalizing Depreciation, and Share Repurchases w/ No U.S. Mortgage Market Recovery EFX Adjusted EPS Growth (Without Mtg Recovery) Growth Drivers ~$19.00+ ✓ 50 bps of EBITDA margin expansion per year ~$15.00 ✓ D&A growth normalizes as EFX CAGR completes

96. Slide 96: CapEx as a % of Revenue Declining to 6-7%

    CapEx as a % of Revenue Declining to 6-7% Capital Capital as a % of Revenue 8.7% ~8.0% ~6.5% ~6.0% 2025 2030 2030 Full 2024 Mtg Mkt Guide Scenario1 Recovery to Average 1. 2030 Scenario assumes on average Overall Economic and US Mortgage Market growth of ~2-3% per year, mortgage product price increas

97. Slide 97: FCF and Leverage Drives $2.5B Cash Available in 2030

    FCF and Leverage Drives $2.5B Cash Available in 2030 for Bolt-on M&A and Return to Shareholders with No Mortgage Market Recovery Accelerating FCF with Expanding Debt Capacity Total Cash Available for 95% Cash Conversion at 2.5x Leverage Acquisitions & Capital Return ~$3.5B+ Free cash flow ($M) Free c

98. Slide 98: Balanced Capital Allocation Framework

    Balanced Capital Allocation Framework ✓ Maintain strong Investment Grade Rating 180%+ ~$4.0B+ ~$3.0B+ Adj NI with S&P (BBB) and Moody’s (Baa2) ✓ Strong 95%+ Cash Conversion Debt incr ~$2.2B ~$1.2B at 2.5x ~100% Adj NI ~70% Adj NI Leverage Total Capital ($B) (50%+ Adj NI) ~$425M+ ~25%+ Payout ~$425M+

99. Slide 99: $700M+ from Mortgage Market Recovery Will Flow Through to EBITDA, EPS, and Cash

    $700M+ from Mortgage Market Recovery Will Flow Through to EBITDA, EPS, and Cash to Shareholders ~$10.8B ~$9.6B ~11% Organic, ~12.5% Total Revenue, ~8.5% Organic CAGR vs 2025 Organic Revenue CAGR vs 2025, ~10% Total Mtg Recovery Total Revenue CAGR vs 2025 CAGR vs 2025 ~$1.2B Mtg ~$1.8B Mtg ~$1.8B (2%

100. Slide 100: NewEFX

     NewEFX ✓ Strong 2025 performance in challenging Mortgage and Hiring markets ✓ Deliver LTFF of 8-12% LT revenue growth, 50 BPs/yr EBITDA Margin expansion and 95%+ Cash Conversion with No Mortgage Market Recovery ✓ Mortgage Market Recovery delivers incremental $1.2B Revenue, $700M+ EBITDA, $4 EPS, and

101. Slide 101: Mark Begor, Chief Executive Officer

     Mark Begor Chief Executive Officer

102. Slide 102: The NewEFX Strategic Priorities

     The NewEFX Strategic Priorities STRATEGIC PRIORITIES ✓ 7-10% Organic Growth ✓ 1-2 pts Revenue Growth from Bolt-on M&A ✓ 8-12% Total Revenue Growth ✓ 50 BPs Margin Expansion / Year ✓ Investing ~$1B / Year in Growth CapEx and Bolt-on M&A ✓ ~$1B+ / Year returned to shareholders in Dividend Growth and B

103. Slide 103: Penetration in Big TAMs and EFX Growth Levers Driving Top Line

     Penetration in Big TAMs and EFX Growth Levers Driving Top Line $50B+ Big EFX Penetration / Share Plays TAM Government $5B Talent $5B ID & Fraud $19B $17B USIS Credit w/ TWN Indicator ++ NPI and Innovation ++ EFX.AI™ ++ Traditional NewEFX Credit Bureau NewEFX Focused on a ~3x Larger Market PROPRIETAR

104. Slide 104: Invested $3B Over Past 7 Years in EFX Cloud

     Invested $3B Over Past 7 Years in EFX Cloud The Equifax Cloud ✓ New Cloud-native Tech ✓Always-on stability ✓ EFX.AI powering solutions ✓ Single Data Fabric ✓ Global Platforms ✓Speed and performance ✓Multi-data solutions ✓ Products in Cloud ✓Real-time insights and data fabric ✓More data – partners ✓T

105. Slide 105: Scale, Differentiated EFX Data Assets

     Scale, Differentiated EFX Data Assets U.S. business identities 67M+ Individuals in EFX Data Assets Commercial Commercial tradelines 180M+ Leasing tradelines 15M+ 245M+ Merchants 2.5M+ Merchant Data Network Annual transactions $1.6T+ 200M+ Incarceration Records ~200M Payment transactions ~18B Consumer

106. Slide 106: Innovation Accelerating Post-Cloud

     Innovation Accelerating Post-Cloud Vitality Up 2X Post-Cloud NPI in EFX DNA ✓ More differentiated data... EFX and Partners 10% LT Goal ✓ Multi-data... TWN Indicator ✓ EFX.AI driving performance lifts ✓ Trended, historical data ✓ Orchestrated solutions ✓ Multi-market products... expand across geograph

107. Slide 107: Strong Post-Cloud FCF Drives Investment in EFX and Cash to Shareholders

     Strong Post-Cloud FCF Drives Investment in EFX and Cash to Shareholders Long Term Capital Free Cash Flow Allocation Framework NewEFX Maintain strong 2.5 - 3x leverage $1.6B+ balance sheet Invest in EFX growth $1-$1.2B/year Investment in EFX Growth - CapEx for growth 6-7% of revenue (~$500M+/yr) ~$90

108. Slide 108: Strong NewEFX Growth

     Strong NewEFX Growth The NewEFX EFX Growth Engines Revenue, ~$10.8B+ ~12.5% CAGR ✓ Post-Cloud Leverage % Revenue Growth ~$9.6B+ vs. 2025G ~10% CAGR ✓ More Data… EFX and Partners vs. 2025G MTG Recovery ✓ Innovation and NPIs ~$6B+ ✓ AI-powered Solutions ~5% vs. 2024 $4.1B ✓ Multi-Data Solutions… TWN I

109. Slide 109: NewEFX

     NewEFX 1 Confident in 8-12% LT Financial Framework and 50 BPs annual margin expansion 2 Cloud delivering competitive advantage and New Products powered by EFX Differentiated Data and EFX.AI 3 New OnlyEquifax™ solutions combining The Work Number and Credit 4 Strong EWS Growth and Margins in big Governm

110. Slide 110: PROPRIETARY PROPRIETARY

     PROPRIETARY PROPRIETARY | 118

Equifax — Investor Day (2025) on 6ix