Financial Report (59a9a312 2224 491c 83b1 185fe224f6ca)

Huron Consulting Group Inc.

Investor Presentation

October 2025

Use of non-GAAP financial measures

HURON | 3

In evaluating the company's financial performance and outlook, management uses earnings before interest, taxes, depreciation and amortization ("EBITDA"), adjusted EBITDA, adjusted EBITDA as a percentage of revenues before reimbursable expenses, adjusted net income, adjusted diluted earnings per share, free cash flow and free cash flow yield which are non-GAAP measures. Management uses these non-GAAP financial measures to gain an understanding of the company's comparative operating performance (when comparing such results with previous periods or forecasts). These non-GAAP financial measures are used by management in their financial and operating decision making because management believes they reflect the company's ongoing business in a manner that allows for meaningful period-to-period comparisons. Management also uses these non-GAAP financial measures when publicly providing their business outlook, for internal management purposes, and as a basis for evaluating potential acquisitions and dispositions. Management believes that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating Huron's current operating performance and future prospects in the same manner as management does, if they so choose, and in comparing in a consistent manner Huron's current financial results with Huron's past financial results. Investors should recognize that these non-GAAP measures might not be comparable to similarly titled measures of other companies. These measures should be considered in addition to, and not as a substitute for or superior to, any measure of performance, cash flows or liquidity prepared in accordance with accounting principles generally accepted in the United States.

Management has provided its outlook regarding adjusted EBITDA and adjusted diluted earnings per share, both of which are non-GAAP financial measures and exclude certain charges. Management has not reconciled these non- GAAP financial measures to the corresponding GAAP financial measures because guidance for the various reconciling items is not provided. Management is unable to provide guidance for these reconciling items because they cannot determine their probable significance, as certain items are outside of the company's control and cannot be reasonably predicted since these items could vary significantly from period to period. Accordingly, reconciliations to the corresponding GAAP financial measures are not available without unreasonable effort.

© 2025 Huron Consulting Group Inc. and affiliates.

Our Business

Huron is a global professional services firm that collaborates with clients to put possible into practice by creating sound strategies, optimizing operations, accelerating digital transformation, and empowering businesses and their people to own their future. By embracing diverse perspectives, encouraging new ideas and challenging the status quo, we create sustainable results for the organizations we serve.

Focused on Serving Enduring End Markets

2024 Financial Results Demonstrate Strong Execution of our Strategy

(1)

$1.5B

2024 Revenues before Reimbursable Expenses (RBR) by Segment

1. Commercial segment includes financial services, energy and utilities, industrials and manufacturing, and all other industries.

2. See Appendix for a reconciliation of adjusted EBITDA margin and adjusted diluted EPS, both of which are non-GAAP measures.

© 2025 Huron Consulting Group Inc. and affiliates.

Our refreshed strategy for driving shareholder value

1

2

3

4

5

1. See Appendix for the reconciliations of our non-GAAP financial measures to the most comparable GAAP financial measures. Management has not reconciled these non-GAAP financial measure goals to the corresponding GAAP financial measure goals because goals for the various reconciling items is not provided.

© 2025 Huron Consulting Group Inc. and affiliates.

Market-tested strategy and disciplined execution has driven

results and significant shareholder value

Progress from 2021 to 2024(1)

+

Significantly

Increased Revenue

Expanded Margins

Meaningfully Increased Earnings Per Share (EPS)

Drove Significant Shareholder Value Creation

+ =

• 18% Revenues before reimbursable expenses

  (RBR) CAGR • Net income margin expansion of

  90 bps

  • Adjusted EBITDA margin(2) expansion of 270 bps

• Diluted EPS growth of

  117%

• Adj. diluted EPS(2) growth of

  148%

  • Share price appreciation of

149%

1. Progress illustrated from December 31, 2021 to December 31, 2024.

2. See Appendix for the reconciliations of our non-GAAP financial measures to the most directly comparable GAAP financial measures.

© 2025 Huron Consulting Group Inc. and affiliates.

Compelling mix of industry-differentiated offerings

Industries

of Focus Healthcare Education Financial

Services

Energy and Utilities

Industrials and

Manufacturing

Public Sector

Capabilities Mix

2024 Revenues before Reimbursable Expenses (RBR)

Consulting and Managed Services 58%

Digital

42%

87%

of Digital RBR in 2024 was comprised of technology services revenue

13%

of Digital RBR in 2024 was comprised of technology product revenue

© 2025 Huron Consulting Group Inc. and affiliates.

Our global enterprise platform is designed to provide a client-centric approach and bring the full breadth of Huron's offerings to our industries of focus

Education

Industry

Financial Services

Industry

Energy & Utilities

Industry

Creates a platform for focused growth in the

commercial industries

MANAGED SERVICES

GLOBAL DELIVERY PLATFORM

Industry

Aligned under a common go-to-market strategy across all of our firm-wide offerings in each industry with greater accountability to achieve our industry growth goals

Capability

Aligned common capabilities across the enterprise to better drive operating efficiencies and elevate our collective market position across Consulting, Digital, and Managed Services

© 2025 Huron Consulting Group Inc. and affiliates.

Competitive advantage enabled by our distinct collaborative culture and highly talented and engaged team

APR 2025-APR 2026 USA

APR 2025-APR 2026 CANADA

APR 2025-APR 2026 INDIA

APR 2025-APR 2026 UK

APR 2025-APR 2026 SG

Great Place to Work

Certified™ by Great Place To Work®in the U.S., Canada, India, Singapore, and the U.K.

The Consulting Report

Named one of the Top Consulting Firms

of 2025.

Vault Consulting

Recognized as one of North America's Most Prestigious Consulting Firms.

Consulting Magazine

Named Best Firm to Work For the last 15 years and honored as Rising Star for Mentoring and Enrichment and Recruiting and Retention programs.

Handshake Early Talent

Award

Recognized as a best place for Gen Z

to start their careers.

Time

Named one of America's 2025 Best Midsized Companies, ranking 163 out of 500 companies.

Glassdoor's Best Places to

Work

Recognized as one of

Glassdoor's Best Places to Work for the second consecutive year.

Management Consulted

Recognized as top consulting firm in the industry.

Corporate Equality Index

Received perfect 100 on the Human Rights Campaign Foundation's Corporate Equality Index since 2014.

As of October 2025

© 2025 Huron Consulting Group Inc. and affiliates.

Our Market Opportunity and Growth Initiatives

H UR O N | 12

Operate in a large, growing industry with core end markets facing significant disruption and/or regulatory change

Total addressable market (TAM): $220B+

Healthcare(1)$63B

Commercial Industries of Focus

Industrials &

Manufacturing(5)

$43B

1. Internal analysis coupled with data from IBIS World's Healthcare Consultants report dated September 2024 and Markets and Markets Revenue Cycle Management/RCM Market Global Forecast to 2026 dated August 2021. Gartner Enterprise IT Spending 2025 HLS Outlook dated January 2025

2. Internal analysis coupled with data from the Integrated Postsecondary Education System (IPEDS), Gartner's 2023 Outlook Presentation: Enterprise IT Spending Forecast, and HERD and NIH Funding data.

3. Internal analysis coupled with data from Gartner Enterprise IT Spending 2024 Outlook dated September 2023

4. Internal analysis coupled with data from IBIS World's Energy & Utility Consulting Services report dated August 2024, Gartner Enterprise IT Spending 2025 Outlook by vertical dated January 2025

5. Internal analysis coupled with data IBIS World's Distribution & Logistics Consulting Services report dated December 2024, Gartner Enterprise IT Spending 2024 Outlook by vertical dated September 2023

6. Internal analysis coupled with data from Gartner Enterprise IT Spending 2025 Outlook by vertical dated January 2025

   © 2025 Huron Consulting Group Inc. and affiliates.

   Healthcare segment

   Our breadth of offerings creates a full-service partner, spanning strategy and innovation, operations, digital and human capital management

   Consulting		Managed Services
   Strategy, Innovation & Growth	Performance Improvement	Revenue Cycle
   Financial Advisory Services	Revenue Cycle, Managed Care & Clinical Documentation	Interim Leadership
   Human Capital Management	Operations & Cost Optimization Physician Enterprise & Access to Care
   Patient Experience	Care Transformation
   Digital
   Advisory & Innovation	Enterprise Resource Planning (ERP)	Intelligent Automation & Transformational Tech
   Data Management & Governance	Enterprise Performance Management (EPM)	Application Managed Services
   Electronic Health Records (EHR)	Customer Relationship Management (CRM)	Advanced Analytics & Insights

   1. 2022 to 2024 average

H UR O N | 13

© 2025 Huron Consulting Group Inc. and affiliates.

Digital 29%

$756M

2024 RBR

Performance

Improvement & Human Capital Management 53%

Revenue Cycle

Managed Services 10%

Strategy and Innovation

3%

Financial Advisory

5%

Segment Offering Portfolio

(As a % of 2024 Healthcare RBR)

1,000

Clients Served Annually(1)

Healthcare Client Portfolio

(As a % of 2024 Healthcare RBR)

Other Healthcare 4%

Hospitals, Health Systems, & Physician

Payor 2% Groups

94%

A dynamic market environment

The healthcare industry remains an attractive market where we are well positioned to build upon our leading market position as our

clients' trusted advisor

M&A

ACTIVITY

likely to increase due to

market opportunities

Illustrative Challenges

NEW CARE DELIVERY MODELS &

TECHNOLOGIES focused outside the four walls of the hospital

WORKFORCE DISRUPTION & INFLATION

is ongoing and specific to wages and supplies

CONSUMER EXPECTATIONS

increased for personalization, transparency, and digital care

FINANCIAL STRAIN

driven by reimbursement changes, cost pressures, & payor dynamics

REGULATORY IMPACT

Impacts Facing Our Clients

Changes in clinical reimbursement models

CHANGING DEMOGRAPHICS

with an aging population and a rise in chronic diseases, drives increasing need

TALENT CHALLENGES

around recruitment and retention, along with unionization, persist

DIGITAL TRANSFORMATION

is needed to maintain security, improve care outcomes, and alleviate cost pressures

Changes to Medicaid eligibility and Medicare reimbursement

Reduced federal research funding and fewer clinical trials

Changes to the pharmacy 340b program Increased scrutiny on tax exempt status

© 2025 Huron Consulting Group Inc. and affiliates.

Sustaining accelerated growth in healthcare

We will continue to be nimble and innovative while leveraging our unique ability to bring the full breadth of our offerings to bear for our clients in order to enhance our competitive advantage in the market

Portfolio Advancement

• Sustain and enhance leading market position in Performance Improvement

• Grow market share in our core digital offerings

• Further diversify our consulting portfolio by adding new, adjacent offerings

  Portfolio Enhancement

  
  
  

  • Accelerate growth in both digital and revenue cycle managed services to capitalize on our unique market positioning

  • Invest further in emerging digital technologies, including automation, analytics and AI

    Portfolio Expansion

• Broaden reach by expanding deeper into the payor and private equity markets

© 2025 Huron Consulting Group Inc. and affiliates.

Our Healthcare business is a market leader with strong

growth potential

Our strong client relationships

and deep industry expertise drive our competitive differentiation, which is difficult to replicate

Strong Client

Relationships

The healthcare industry remains

an attractive, market where we are well-positioned to address current market dynamics and looming financial distress as our clients' trusted advisor

Growing End

Market

We have and will continue to

organically and inorganically expand our portfolio into new and existing markets to enhance our competitive advantage and grow our wallet share and addressable market

Sustaining

Growth

© 2025 Huron Consulting Group Inc. and affiliates.

Education segment

Our breadth of offerings creates a full-service partner, spanning strategy and operations, digital and organizational transformation

© 2025 Huron Consulting Group Inc. and affiliates.

1. 2022 to 2024 average

Research 25%

$474M

2024 RBR

Strategy &

Operations 21%

Digital 49%

Other 1%

Global Philanthropy 4%

Segment Offering Portfolio

(As a % of 2024 Education RBR)

4-Year Institution, Private 28%

580+

Clients Served Annually(1)

Academic Medical

Centers & Research Institutes 15%

4-Year Institution, Public

41%

System Office 9%

Education Client Portfolio

(As a % of 2024 Education RBR)

Other Education and Nonprofit 7%

A dynamic market environment

The education industry remains an attractive end market as it faces potentially significant regulatory changes and an increasingly competitive landscape, which we believe play to our strengths given our scale and breadth of offerings

REGULATORY IMPACT

Impacts Facing Our Clients

Increased scrutiny and significant changes at the federal and state levels, including at the Department of Education

Reduced federal research funding

Deregulation at the federal and regional accreditation levels

Changes in immigration policies affecting students and faculty

Increases to the endowment tax

Illustrative Challenges

Cloud Migration remains a key priority in the digital transformation of higher education

Prevalence and Application of AI

continues to grow

Interconnected Challenges including enrollment declines, leadership instability, financial pressures, and brand erosion, increase the need for change

Workforce Ready Academic

Portfolio

continues to be evaluated in order to prepare students for the jobs of tomorrow

Research Integrity

has become a key priority driven by an increasing enforcement environment and heightened risk of reputational and financial impact

Talent Challenges

related to recruitment and retention, along with unionization, persist

© 2025 Huron Consulting Group Inc. and affiliates.

Sustaining our accelerated growth trajectory

We aim to increase our competitive advantage by building upon the strong foundation of our core business while further broadening our portfolio

Portfolio Advancement

• Evolve our offering portfolio to address the current needs of our clients given the dynamic regulatory environment

• Advance our core offerings to strengthen our competitive advantage

• Continue to leverage our One Huron goto-market approach across all offerings

• Continue to attract strong talent from industry to bolster our team and expertise

  Portfolio Enhancement

  
  
  

  • Further diversify our consulting and digital portfolio by adding new, adjacent offerings

  • Invest further in key areas, including emerging technology, including automation, analytics and AI

  • Deepen our offerings in the student and academic enterprise

    Portfolio Expansion

• Continue expansion into new end markets (e.g., middle enterprise, community colleges) and new geographies

© 2025 Huron Consulting Group Inc. and affiliates.

Our Education business is a market leader with strong

growth potential

© 2025 Huron Consulting Group Inc. and affiliates.

Commercial segment

We are a focused partner with distinct competitive advantage across our offerings

© 2025 Huron Consulting Group Inc. and affiliates.

$256M

2024 RBR

Distressed Financial

Advisory 25%

Digital 65%

Financial

Institutions Advisory 3%

Strategy & Innovation 7%

Segment Offering Portfolio

(As a % of 2024 Commercial RBR)

Professional and Business

Services 11%

Tech, Media & Telecommunications

8%

Energy and Utilities

12%

Life Sciences 7%

Financial Services

15%

$256M

2024 RBR

Commercial Industry Portfolio

(As a % of 2024 Commercial RBR)

Industrials and Manufacturing 16%

Other 31%

A shifting competitive environment

Commercial industries face significant regulatory change and ongoing disruption as government mandates shift and the market landscape becomes increasingly competitive

REGULATORY IMPACT

Impacts Facing Our Clients

Shifting tariff framework impacting supply chains and costs

Evolving interest rate environment Increased scrutiny and significant changes at

the federal and state levels

Potential deregulation in certain areas at the federal and state levels

Illustrative Challenges

Macroeconomic and Regulatory Uncertainty is driving the need for greater

strategic planning, data and analytics, and operational optimization to be able to best navigate disruptions as they arise

Rise in AI and Automation is reshaping how companies deliver products and services and how they

operate, driving new efficiencies and requiring reimagined business models

Physical and Digital Worlds Converging

as digital agents enhance technology adoption, bridge skill gaps, and enable greater agility and seamless integration

Tariffs and Supply Chain

Uncertainty

are intensifying financial pressures, demanding faster innovation and greater operational efficiency

Data-driven Decision Making enabled by the rise in data and analytics accelerates time to value and improved business outcomes

Competitive Shifts

are increasing, driving revenue growth pressure and financial strain, which pushes organizations to innovate and optimize their operations

© 2025 Huron Consulting Group Inc. and affiliates.

Sustaining our accelerated growth trajectory

We aim to increase our competitive advantage by building upon the strong foundation of our core business while further broadening our portfolio

Portfolio Advancement

• Sustain and enhance our strong market positions in our core offerings across Digital, Financial Advisory and Strategy & Innovation

• Integrate our strategy and operations consulting and digital offerings to further strengthen our distinct competitive advantage and innovate to best serve our clients

• Continue to leverage our One Huron goto-market approach across all offerings

  Portfolio Enhancement

  
  
  

  • Invest further in current offering adjacencies - similar to the AXIA acquisition

  • Invest further in key areas, including emerging technology, including automation, analytics and AI

  • Enhance our industry expertise and offering set in our core industries of focus

    Portfolio Expansion

• Extend offerings into new parts of the market (e.g., strategy to operations consulting, back office to front and middle office technology platforms, etc.)

• Leverage global client base in digital and current international work to strategically expand our geographic reach

© 2025 Huron Consulting Group Inc. and affiliates.

Our Commercial segment has points of unique competitive differentiation

across offerings that we believe we can build upon to further grow the segment

1. See page 14 of this presentation for additional details.

   © 2025 Huron Consulting Group Inc. and affiliates.

   Our Proven Results

   Our proven results

   HURON | 26

   Healthcare
   
   

   Large, Multi-State Health System

   Client Challenges

   • Significant financial and environmental pressures

   • Incurred operating losses at a rate of $1M per day, putting key investments at risk

     Huron's Approach

   • 'Dual Transformation' approach

   • Drove rapid, incremental operational and clinical improvement to achieve near-term margins

   • Repositioned to drive long-term growth through new clinical programs, redesigned care model, and asset repositioning

     Results

   • Annual recurring financial benefit of $500M+

   • Achieved positive operating income in just two quarters

   • Redesigned operating model enabled the organization to succeed as an integrated system

   Education
   
   

   Premier U.S. Research Institution

   Client Challenges

   • Sought greater liquidity ahead of potential Federal directives given the magnitude of

     university's endowment and annual sponsored

     research volume

     Huron's Approach

   • Conducted a broad review of budget practices, restricted funds and endowment distributions

   • Developed set of actionable recommendations spanning new analytics and reporting, planning process changes, policy enhancements, and education and training

     Results

   • Re-balanced unrestricted and restricted fund accumulated fund balances to free up restricted sources for redeployment to strategic and operational needs

   • Reallocated $30M in unrestricted budget funding to central operations

     Financial Services

     
     
     

     Northeastern U.S. Regional Bank

     Client Challenges

   • Struggled to maintain existing financial planning process, which drove longer planning cycles

   • Team members performing numerous low-value and manual tasks to prep data with aging systems, aggregate disparate plans, and validate results

     Huron's Approach

   • Develop a digital-first, enterprise-wide bank planning framework

   • Utilized Huron's proprietary margin planning, workforce, and capital expenditures accelerators to expedite design and implementation

     Results

   • Planning and forecasting process timeline declined from three weeks to 15 minutes

   • More accurate earnings and net interest forecasting

   • Used technology to reduce the need for additional headcount

© 2025 Huron Consulting Group Inc. and affiliates.

Our Financial Outlook

Disciplined strategic execution driving outperformance against 2022 investor day goals

RBR & Adj. Diluted EPS(1)Adj. EBITDA(1)

$1,800

$1,600

$1,400

$1,200

$ in Millions

$1,000

$800

$600

$400

$200

$

2021 2022 2023 2024 2025 Guidance

(Midpoint) (2)

$8.00

18% RBR CAGR

(2021 to 2024)

$1,660

$1,486

$7.60

$1,362

$6.47

$1,132

$4.91

$906

$3.43

$2.61

$7.00

$6.00

$5.00

$4.00

$3.00

$2.00

$1.00

-

$250

$200

$ in Millions

$150

$100

$50

$

$237

$201

$167

$131

$98

2021 2022 2023 2024 2025 Guidance

(Midpoint) (2)

RBR - 2022 Goal RBR - Actual

RBR & Adj. Diluted EPS -

Adj. EBITDA Dollars 2022 Goal Adj. EBITDA Dollars Actual

Adj. EBITDA Dollars

Adj. Diluted EPS - 2022 Goal Adj. Diluted EPS - Actual

Guidance

(2)

Guidance

(2)

1. See Appendix for the reconciliations of our non-GAAP financial measures to the most directly comparable GAAP financial measures.

2. Guidance is as of October 28, 2025. Management has not reconciled these non-GAAP financial measures to the corresponding GAAP financial measures because guidance for the various reconciling items is not provided.

   © 2025 Huron Consulting Group Inc. and affiliates.

   Strong growth algorithm poised to drive shareholder

   
   
   

   value creation

   1

   Grow Revenues

   Grow Margins & Cash Flows

   Grow EPS

   3

   RBR Growth Goal: Low double-digit percentage RBR growth, primarily driven by mid-upper single digit organic growth

   Adj. EBITDA Margin(1) Expansion Goal: Expand adj. EBITDA margin to 15-17% by 2029

   2

   Free Cash Flow(1) Conversion Goal: Annual conversion of 75% of adj. EBITDA

   Adj. Diluted EPS(1) Growth Goal: Double adj. diluted EPS by 2029

   1. See Appendix for the reconciliations of our non-GAAP financial measures to the most comparable GAAP financial measures. Management has not reconciled these non-GAAP financial measure goals to the corresponding GAAP

   financial measure goals because goals for the various reconciling items is not provided. © 2025 Huron Consulting Group Inc. and affiliates.

   
   
   

   Driving continued revenue growth

   Grow Revenues

   Achieved by:

   Low Double Digit % RBR Growth Goals

   • Reaffirmed commitment to low double-digit percentage RBR growth driven by:

     Grow Margins & Cash Flows

     Grow EPS

     • Mid-upper single digit organic RBR growth

     • 2% to 4% inorganic RBR growth

       RBR aspiration by segment
       Healthcare	Education	Commercial
       Mid-upper single digit RBR growth	Upper single digit to lower double digit RBR growth	Low double digit RBR growth
       RBR aspiration by capability
       Consulting & Managed Services		Digital
       Upper single digit RBR growth		Low double digit RBR growth

   • Dynamic and macroeconomically significant end markets create growth opportunities

   • Leading market positions, deep client relationships, and innovation drive opportunities for wallet share expansion

   • Investments in new capabilities and market channels expand our total addressable market

   • Programmatic M&A is a strategic lever to fuel additional growth

© 2025 Huron Consulting Group Inc. and affiliates.