Verra Mobility : Q1 2025 Investor Presentation

Investor Overview

Verra Mobility Q1 2026 Investor Presentation For the Quarter Ended March 31, 2026

Verra Mobility Key Investment Themes

1

Global leader of smart mobility solutions that address mission-critical transportation needs for cities, fleets and universities

2

Well-positioned in large, growing and attractive markets with strong secular tailwinds

3

Robust free cash flow combined with disciplined capital management accelerates value creation for stockholders

4 Experienced management team with a track record of consistent execution

3

Our Purpose

We exist to transform mobility into something safer, smarter and more connected - making life better for the people and communities we serve.

Solving Complex Transportation Challenges

We solve complex payment and compliance challenges for fleets.

Vehicles in the U.S. make 5.7B+ toll trip transactions, which

account for nearly 60%

of all fleet violations.

We save lives by changing driving behaviors.

Nearly 40,000 people die in motor vehicle traffic crashes in the U.S. each year.

We make parking more efficient and help reduce congestion.

U.S. drivers spend

17 hours annually searching for parking -that's $345 per driver in wasted time, fuel and emissions.

5

Improving Transportation with Safe, Smart and Connected Solutions

Smart

We bring operational intelligence to transportation systems that enable cities, universities and fleet owners to operate more efficiently.

Safe

Our goal is to make communities and streets safer with technology solutions that change driver behavior, improve safety outcomes and save lives.

Connected

We unify fragmented transportation systems, enabling seamless mobility management for cities, simpler compliance for fleets and integrated payment experiences for drivers.

6

Market-leading financial profile across a range of attractive markets

Global Presence

Total Revenue1

$979M

Service Revenue2

94%

Adj EBITDA1

$406M

Adj. EBITDA Margin 1

42%

Free Cash Flow1

$105M

Free Cash Flow Conversion1,3

26%

Q1 2026 TTM Key Metrics

~1,800 ~2,300+

Employees Globally Customers Served Globally

Consolidated Sales by Geography4

90%

North America

7% APAC

3%

Europe

1 See the Appendix for reconciliations of the non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow and Free Cash Flow Conversion to the most directly comparable GAAP financial measure. Shows Trailing Twelve Months for Q1 2026. Trailing Twelve Months or "TTM" refers to the trailing four quarters and is calculated by adding the sum of the current quarter's and the prior three quarters' financial metric being measured.

2 Based on company analysis; ratio of service revenue to total revenue 7

3 Represents Free Cash Flow divided by Adj. EBITDA for Q1 2026 TTM; see page 26 for a reconciliation of Free Cash Flow Conversion to Adjusted EBITDA conversion

4 Based on FY 2025 reported financials

Positioned for Continued Growth & Profitability

Business Segment	Commercial Services (~45%1)			Government Solutions (~47%1)				Parking Solutions (~8%1)
	Market leader in toll and violation management for commercial fleets			Industry leader in automated traffic enforcement for cities and school districts				Leading technology provider of end-to-end parking management solutions in North America
Expected L/T Core Revenue Growth	MSD			HSD				MSD
Historical Key Financials	Total Revenue CAGR 2021 - Q1 2026 TTM4 13%		Q1 2026 TTM Segment Profit Margin4 65%	Total Revenue CAGR 2021 - Q1 2026 TTM2 12%		Q1 2026 TTM Segment Profit Margin2 24%		Q1 2026 TTM Q1 2026 TTM Total Revenue3 Segment Profit Margin3 $83M 14%
Core Products and Solutions	Toll Services	Violation Processing	Title & Registration	Speed Safety	Transit Bus Lane Enforce	School Bus Stop-Arm Safety	Red-Light Safety	SaaS	Services	Hardware

High-quality businesses with market leadership positions & differentiated solutions

1 Based on Q1 2026 TTM results

2 Redflex transaction closed June 2021 8

3 T2 transaction closed December 2021

4 2021 COVID-19 impacted

Large, Attractive Markets Fueled by Long-Term Macro Trends

Urban Mobility

$26B in 2025

Traffic Management

Parking & Curbside Management

Road Usage Charging

• Road safety concerns driving Vision Zero commitments

• Growing city populations necessitating congestion solutions

Government Solutions

Parking Solutions

• Reduce congestion and carbon emissions

• Increase traffic flow and safety

• Maximize revenue and driver compliance

Connected Fleet Solutions

$14B in 2025

Fleet Administration

Telematics

Vehicle Payments

• Shared transportation leading to growing vehicle fleets

• Connected vehicles creating opportunities for new fleet services

Commercial Services

• Maximize fleet utilization

• Simplify payments

• Enhance driver safety and compliance

Estimated Total Global Addressable Market1, 2

Key End Markets

Market Trends

Verra Mobility Business Segments

Key Benefits to Customers

1 Based on 2020 industry global sales estimates 9

2 Based on the compound annual growth rates of the expected Total Addressable Market of the broader overall market

A Customer-Centric Growth Playbook

1. Deep Customer Relationships

   BUILD deep, meaningful relationships with customers based on trust

   95%+

   Customer Renewal Rate1

   4. Management and Execution

   UNDERPINNED by a robust standard business system that is designed to drive growth, efficiency and talent development

2. Differentiated Solutions

   
   
   

   CREATE new opportunities to serve based on service excellence and understanding of customer needs

   
   
   

3. M&A and Innovation

ACCELERATED by M&A & Innovation

A proven 'flywheel' that delivers consistency and growth

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1. Based on company analysis across all three business segments

Parking Solutions

Grow managed vehicle fleets

Open new cities

Add new universities & municipalities

European expansion

Scale and accelerate Bus Lane and Work Zone

Open new market segments; e.g., expand presence in large U.S. cities

2. Expand into adjacent markets and offerings

1. Grow the Core

Government Solutions

Commercial Services

A Growth Playbook to Deliver Strong Organic Growth

Expected L/T Organic Growth	MSD	HSD	MSD
3. Capture Emerging opportunities in Connected Fleet and Urban Mobility markets	New connected fleet services	Smart city platform	Curb monetization
Upside Driven by M&A and Innovation

Existing businesses expected to drive strong organic growth

11

Experienced and Proven Leadership

David Roberts

President & CEO

Craig Conti

Chief Financial Officer

Stacey Moser

EVP, Commercial Services

Jon Baldwin

EVP, Government Solutions

Lin Bo

Senior Vice President T2 Systems

Jon Keyser

Chief Legal Officer

Cate Prescott

Chief People Officer

Jason Rivera

Chief Technology Officer

Mike McMillin

Senior Vice President, Corporate Development and Strategy

12

Our People Make the Difference

76

2025 Engagement Score

85%

Retention1

89%

Would recommend their manager1

83%

Feel their work has purpose and is meaningful1

CORE VALUES

Own It | Do What's Right | Lead With Grace | Win Together

VISION

To be the global leader in smart mobility by serving our customers at their highest point of need, with the best people doing their best work

PURPOSE

Enriching lives by making mobility safer & easier

DRIVE

Core Business Outcomes

Strategic Pillars

BUILD

The Verra Mobility of the Future

CREATE

An Engaging & Fulfilling Workplace Experience

World-class team committed to extraordinary results & enhancing stockholder value

13

1 As of June 30, 2025

Commercial Services

TAM

$7B

Expected Organic Growth

MSD L/T

Leading Fleet Mobility Solutions Provider

Strategic Advantages

• Strategic differentiation based on large scale and deep integrations with our customers and key partners

  $281

$160

$261

$432*

14% CAGR

+13% CAGR

Commercial Services Segment

2021 Q1 2026 TTM

Sales

by Solution1

3%

8%

89%

Sales

by Geography1

5%

95%

• Proprietary cloud applications and processes that automate workflows and reduce complexity

• Well-positioned to deploy software defined solutions in the emerging connected vehicle ecosystem

Growth Playbook

Segment Revenue ($M)

Tolling

Violations

US Europe

Segment Profit ($M)

Title & Registration

Grow Core Business

Global Expansion

Emerging Opportunities

Market position creates platform for long-term competitive advantage and free cash flow generation

14

*2021 COVID-19 impacted

1 Based on Q1 2026 TTM revenue

Government Solutions

Leading Global Provider Poised for L/T Growth

TAM

$11B

Expected Organic Growth

HSD L/T

Government Solutions Segment1

Sales Breakdown2

Sales by Geography2

+12% CAGR

$283

$464

$113

+1% CAGR

$108

10%

90%

17%

83%

2021 Q1 2026 TTM

Segment Revenue ($M)

Segment Profit ($M)

Service

Product

North America

Rest of World

Diverse portfolio with high recurring service revenue

1. Includes revenue and segment profit contributions from acquisition of Redflex Holdings effective June 17, 2021

2. Based on Q1 2026 TTM revenue

Strategic Advantages

• Long-term relationships with state and local governments

• Complete solutions designed to reduce risk and time to deploy

• Capacity to scale to meet evolving customer needs

• Market-leading technologies

Growth Playbook

Core Business Adjacent Expansion Growth Opportunities Opportunities

15

Parking Solutions

Leading Parking Solutions Partner

Q1 2026 TTM

Financial Results

Total Revenue

$83M

Segment Profit

$12M

NA TAM1

$4B

Years of Experience

30+

Renewal Rate

95%+

Customers Annual Parking Across North Commerce

America Processed

~2,000 $4B

Sales Breakdown 2

58%

18%

24%

SaaS Services Hardware

Strong foundation, relationships and portfolio to enable long-term growth

1 Represents North American Total Addressable Market

2 Based on Q1 2026 TTM revenue breakdown

Strategic Advantages

• Strong market position in large universities

• Diversified product portfolio that scales and provides end-to-end solutions

• Well-positioned for market growth driven by urbanization

Growth Playbook

Grow Core Business

Open New Market Segments

Capitalize On Emerging Opportunities

16

Core Businesses Drive Strong Growth and Margins

Total Revenue Breakdown ($M) Adjusted EBITDA & Margins* ($M)

Service Product

Total Revenue CAGR 9%

Service Revenue CAGR 9%

2022 thru Q126 TTM

45%

Adj EBITDA 4-Yr CAGR 6%

2022 thru Q126 TTM

$416

$402

$406

46%

$372

42%

42%

46%

$339

$742

$817

$879

$61

$60

$34

$38

$46

$695

$784

$842

$918

$920

$979 $979

2022 2023 2024 2025 Q1 2026 TTM 2022 2023 2024 2025 Q1 2026 TTM

Free Cash Flow % of Adj. EBITDA*

94% Q1 2026 TTM Service Revenue to Total Revenue (primarily recurring revenue)

50% 40% 38% 33% 26%

Free Cash Flow conversion impacted in the short-term due to Capex investment in long-term growth in Government Solutions

17

* Reconciliations of non-GAAP financial measures (Adjusted EBITDA and Free Cash Flow) to the most directly comparable GAAP financial measures are contained in the Appendix.

* Free Cash Flow represents Net Cash Provided by Operating Activities, less Capex.

Strong, Flexible Balance Sheet + Robust Cash Flow

Capital Summary & Financial Highlights ($M) Net Leverage* Evolution ($M)

$935

$893

$843

$972

$1,017

2.0x

2.2x

2.5x

2.3x

2.3x

March 31, 2026
Cash & Cash Equivalents	$47
Debt	$1,064
Stockholders' Equity	$272

Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026

$199

Available Credit (Revolving Credit Facility & accordion feature) 1

Cash & Cash Equivalents $47

No Debt Maturities until 20291 ($M)

$649

$357

$182

$9

$8

$7

$7

$7

$7

$7

Total Available Liquidity $246

2023 2024 2025 2026 2027 2028 2029 2030 2031 2032

Consistent cash generation maintained consistent leverage levels through Q1 2026

* A reconciliation for Net Leverage to the most directly comparable GAAP financial measure is included in the Appendix. 18

1 Term Loan Debt and ABL Revolver were refinanced in October 2025; new Term Loan maturity is 2032; new Term Loan pricing is Term SOFR + 200 bps. Fixed Rate debt securities priced at 5.500% and due 2029. Maturity schedule excludes repayment of credit revolver balance and Available Credit assumes borrowing base supports full accordion capacity.

Demonstrated History of Disciplined Capital Allocation

2018 - Q1 2026 TTM Capital Deployment Capital Allocation Snapshot

Capex

Share Buybacks

Debt repayment

17%

10%

28%

~$2.6B

Capital Deployed

M&A

45%

1

Organic Investment

• Revenue generating capital expenditures (e.g., cameras)

• Proprietary software development

  2 ▪ Minimal maintenance capital

  Strategic M&A

• Approximately $1.2 billion invested last 7 years

  3

• Augment scale and enter new market segments / geographies

  Share Buybacks

• >$700 million returned in the past 5 years

Demonstrated ability to allocate capital across multiple opportunities

19

Reaffirming 2026 Financial Outlook

2026 Guidance

Expect Total Revenue growth of 5% at the mid-point of guidance

CS driven by expected increased adoption and tolling activity; monitoring travel demand

GS driven by NYC expansion and expected high single-digit growth outside of NYC

PS (T2) driven by expected growth in subscription and professional services

In millions, except per share data

Total Revenue $1,020 - $1,030

Adjusted EBITDA $405 - $415

Commentary

CS … MSD expected growth

GS … High-end of MSD growth expected (GS Service Rev expected to grow HSD) PS (T2) … MSD expected growth

Adjusted EBITDA margin expected to decline about 250 bps due primarily to NYC M/WBE subcontractor costs

Adjusted EPS $1.32 - $1.38 LSD expected growth at the mid-point

Free Cash Flow $150 - $160 FCF conversion of ~38% expected

Well positioned to deliver attractive returns for investors

20

Terms that are used on this page are defined on pages 22-23 of this presentation