February 2026 Investor Presentation

February 2026

Employee DNA

→ Client-centric

→ Entrepreneurial

→ Collaborative

→ Solution Oriented

→ Data informed

Firm's DNA

→ Global advice with local execution

→ Dedicated to exceeding client expectations

→ Data driven approach to decision making

→ Commitment to innovation

→ Community minded

Ownership and Controls

→ New York Stock Exchange listed company

→ Blue chip institutional ownership

→ Broad-based, long-term employee ownership

→ Consensual, data driven decision making

Our Culture

CORE SERVICES

Corporate Finance Financial Restructuring Financial and Valuation Advisory

Our Product Knowledge and Industry Expertise

Mergers & Acquisitions Capital Solutions

Debtor and Creditor Restructuring

Liability Management

Distressed M&A

Financial Opinions

Transaction and Valuation Services Portfolio Valuation

Deliver Superior

DEDICATED INDUSTRY GROUPS

Results

Business Services Consumer

Energy

Financial Services FinTech

Healthcare

Industrials Real Estate

Technology

KEY FACTS AND FIGURES

32

Note: As of December 31, 2025.

1. LTM ended December 31, 2025.

Locations Worldwide

2,723

Global Employees

341

Managing Directors

$2.6B

Revenue1

Track Record of Growth and Profitability

Strong and consistent financial performance.

Lower Revenues and Earnings Volatility Through Economic Cycles

Given our diversified business model, and mix of cyclical, counter-cyclical and non-cyclical businesses, we believe we are less volatile than other investment banking firms.

Strong Growth Prospects

Significant room to grow all three businesses globally through both organic hires and acquisitions.

Long-Tenured Management Team High Quality, Diversified Revenues Data-Centric Strategy

The average tenure of our Executive Management Team and our 19-person Operating Committee Team is over 25 years.

Diversified across clients, industries, geographies, transactions and financial professionals.

Focus on leveraging technology and data drives differentiated advice and superior decision making.

Investment Tenets

5

Strong Financial Performance

Revenues Corporate Finance

Financial Restructuring

Financial and Valuation Advisory

$1,525

$2,270 13%

17%

$1,809

16%

Strong revenue growth with a five-year CAGR of 16%

$1,159

14%

30%

12% 35%

70%

22%

64%

56% 53%

62% 58%

Fiscal year 2022 experienced record results during extremely bullish market conditions

Adjusted pre-tax income grew at a CAGR of 17% over the same five-year period

Maintained solid adjusted pre-tax margins throughout, with higher pre-tax margins for fiscal years 2021 and 2022 as a result of temporarily lower non-compensation expenses because of the COVID-19 pandemic

Adjusted Pre-tax Income1 Adjusted Pre-tax Margin1

2020 2021 2022 2023 2024 2025

$680

$619

$434

$428

$440

$282

2020 2021 2022 2023 2024 2025

24.3%

23.7%

25.9%

23.0%

28.4% 29.9%

2020 2021 2022 2023 2024 2025

Note: For fiscal years ended March 31. All dollar amounts in millions unless otherwise noted.

1. Adjusted Pre-tax Income and Adjusted Pre-Tax Margin are non-GAAP financial measures. See page 31 for comparable GAAP figures.

6

Strong Partnership Culture with Experienced Leadership

Deep and Experienced Executive Management Team Long Tenure Results in Collaborative Culture

Scott J. Adelson

CEO

Scott L. Beiser

Co-Chairman

J. Lindsey Alley

CFO

Irwin N. Gold

Co-Chairman

P. Eric Siegert

Co-Chairman

Tenured Management Team

2

1

High Retention

3

No "Star" Culture

Over 25-year average tenure of our Executive Management Team and our 19-person Operating Committee Team

12-year average tenure of Managing Directors across all business segments¹

No single individual generated more than 2% of revenues²

1. As of December 31, 2025. Excludes Managing Directors from acquisitions.

   
   
   

2. For the fiscal year ended March 31, 2025.

A Culture of Caring

HL has a matching charitable contribution program for active employees, which results in a number of donations to causes around the globe, and a give-a-day program that results in significant participation by our employees in programs local to our offices. Listed below are several of the beneficiaries of our programs:

Market Leader in All Three Business Segments

→ No. 1 U.S. M&A Advisor

→ Leading Capital Solutions Advisor

→ No. 1 Global Restructuring Advisor

→ Advised on 12 of the 15 Largest U.S. Bankruptcies Since 2000

→ No. 1 Global M&A Fairness Opinion Advisor Over the Past 25 Years2

→ 2,500+ Annual Valuation Engagements

Source: LSEG.

1. M&A ranking excludes accounting firms and brokers.

   
   
   

2. Announced or completed transactions.

Source: LSEG. Excludes accounting firms and brokers.

Note: Advisory rankings based on total number of Global M&A transactions completed in CY 2025.

1. Transactions under $1 billion in total deal value.

No.1

Global

Market-Leading Advisor Across Industries

10