Houlihan Lokey : February 2026 Investor Presentation

About this update from Houlihan Lokey, Inc.

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 Revenue 1 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 $2,389 $1,914 13% 15% 23% 27% 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 Income 1 Adjusted Pre-tax Margin 1 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 As of December 31, 2025. Excludes Managing Directors from acquisitions. 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 Top Global M&A Firm 1 Top Global Restructuring Firm Top Global Fairness Opinion Firm Investment Banks by Number of Global CY 2025 Global Distressed Debt and Global M&A Fairness Advisors: Announced or M&A Deals in CY 2025 HOULIHAN LOKEY Bankruptcy Restructuring Deals HOULIHAN LOKEY Completed Deals (CY 2001 to CY 2025) HOULIHAN LOKEY 458 83 1,170 Goldman Sachs & Co PJT Partners Inc Duff & Phelps, A Kroll Business 441 55 1,069 Rothschild & Co Lazard JP Morgan 400 50 1,034 JP Morgan Rothschild & Co UBS 364 44 769 Morgan Stanley Evercore Inc Morgan Stanley 357 33 716 → 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 Years 2 → 2,500+ Annual Valuation Engagements Source: LSEG. M&A ranking excludes accounting firms and brokers. Announced or completed transactions. Business Services Consumer 1 Financial Services 1 HOULIHAN LOKEY HOULIHAN LOKEY HOULIHAN LOKEY 92 58 66 Rothschild & Co Rothschild & Co Goldman Sachs & Co 50 58 41 JP Morgan Oaklins Rothschild & Co 47 40 33 Oaklins Mizuho Financial Group UBS 42 30 31 Clearwater Goldman Sachs & Co / Lincoln International Morgan Stanley 41 29 28 Healthcare Industrials 1 Technology HOULIHAN LOKEY HOULIHAN LOKEY HOULIHAN LOKEY 45 68 128 Rothschild & Co Mizuho Financial Group Goldman Sachs & Co 43 66 116 Goldman Sachs & Co Rothschild & Co JP Morgan 41 64 112 Jefferies LLC Oaklins Morgan Stanley 37 59 95 Morgan Stanley ICBC Rothschild & Co 32 55 81 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 Attention : This is an excerpt of the original content. To continue reading it, access the original document here .

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