CBRE : Q1 2021 Webcast Slides(opens in new window)

April 29, 2021

Q1 2021 EARNINGS CALL

FORWARD - LOOKING STATEMENTS

This presentation contains statements that are forward looking within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements regarding CBRE's future growth prospects, including 2021 qualitative outlook and multi-year growth framework, operations, market share, capital deployment strategy and share repurchases, M&A and investment activity, financial performance, including profitability, expenses, margins, adjusted EPS, and the effects of both cost-savings initiatives and the Covid-19 pandemic, and the integration and performance of acquisitions, and any other statements regarding matters that are not historical fact. These statements are estimates only and actual results may ultimately differ from them. Except to the extent required by applicable securities laws, we undertake no obligation to update or publicly revise any of the forward-looking statements that you may hear today. Please refer to our first quarter earnings release, furnished on Form 8-K, our most recent annual report and quarterly reports filed on Form 10-K and Form 10- Q, respectively, and in particular any discussion of risk factors or forward-looking statements therein, which are available on the SEC's website (www.sec.gov), for a full discussion of the risks and other factors that may impact any forward-looking statements that you may hear today. We may make certain statements during the course of this presentation, which include references to "non-GAAP financial measures," as defined by SEC regulations. Where required by these regulations, we have provided reconciliations of these measures to what we believe are the most directly comparable GAAP measures, which are included in the appendix.

CBRE GROUP, INC.

Q1 2021 EARNINGS CONFERENCE CALL | 2

CONFERENCE CALL PARTICIPANTS

Bob Sulentic

President and Chief Executive Officer

Leah Stearns

Chief Financial Officer

Kristyn Farahmand

Vice President, Investor Relations & Corporate Finance

CBRE GROUP, INC.

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CONSOLIDATED RESULTS SUMMARY

$ IN MILLIONS EXCEPT PER SHARE FIGURES

	1Q21	1Q20	USD	Local
	Currency1
Revenue	$5,939	$5,889	▲1%	▼(1)%
Net Revenue	$3,359	$3,431	▼(2)%	▼(4)%
Adjusted EBITDA2	$491	$430	▲14%	▲12%
EPS2	$0.78	$0.51	▲55%	▲51%
Adjusted EPS2	$0.86	$0.75	▲15%	▲12%

• Strong Q1 results despite continued pressure of COVID-19 on transactional volumes
  - Results include benefit from venture investment gains and REI accounting change
• Improving transactional revenue trends complemented by benefit of transformation initiatives completed in 2020 also boosted results

1. Local currency percent changes versus prior year are calculated by comparing current year results at prior year exchange rates versus prior year results.
2. Q1 2020 results reflect $75.2 million of asset impairment costs that were excluded from adjusted EBITDA, adjusted net income and adjusted EPS.

CBRE GROUP, INC.

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Definitions and reconciliations are provided at the end of this presentation.

BOB SULENTIC

CHIEF EXECUTIVE OFFICER