Brink : Second Quarter 2021 Earnings Presentation

Second-Quarter Earnings

July 22, 2021

Safe Harbor Statements and Non-GAAP Results

These materials contain forward-looking information. Words such as "anticipate," "assume," "estimate," "expect," "target" "project," "model", "predict," "intend," "plan," "believe," "potential," "may," "should" and similar expressions may identify forward-looking information. Forward-looking information in these materials includes, but is not limited to information regarding: 2021 outlook, including revenue, operating profit, adjusted EBITDA, earnings per share, capital expenditures, net debt and leverage, free cash flow and the drivers thereof; 2022 financial targets; the impact of economic recovery, cost reductions, leverage, the PAI acquisition, the G4S acquisitions and cross-currency interest rate swap; strength of cash levels; ESG initiatives and commitments; strategic targets and initiatives (including Strategic Plan 2); future legacy liability contributions.

Forward-looking information in this document is subject to known and unknown risks, uncertainties and contingencies, which are difficult to predict or quantify, and which could cause actual results, performance or achievements to differ materially from those that are anticipated. These risks, uncertainties and contingencies, many of which are beyond our control, include, but are not limited to: our ability to improve profitability and execute further cost and operational improvement and efficiencies in our core businesses; our ability to improve service levels and quality in our core businesses; market volatility and commodity price fluctuations; seasonality, pricing and other competitive industry factors; investment in information technology ("IT") and its impact on revenue and profit growth; our ability to maintain an effective IT infrastructure and safeguard confidential information; our ability to effectively develop and implement solutions for our customers; risks associated with operating in foreign countries, including changing political, labor and economic conditions, regulatory issues (including the imposition of international sanctions, including by the U.S. government), currency restrictions and devaluations, restrictions on and cost of repatriating earnings and capital, impact on the Company's financial results as a result of jurisdictions determined to be highly inflationary, and restrictive government actions, including nationalization; labor issues, including negotiations with organized labor and work stoppages; pandemics (including the ongoing Covid-19 pandemic and related impact to and restrictions on the actions of businesses and consumers, including suppliers and customers), acts of terrorism, strikes or other extraordinary events that negatively affect global or regional cash commerce; anticipated cash needs in light of our current liquidity position and the impact of Covid-19 on our liquidity; the strength of the U.S. dollar relative to foreign currencies and foreign currency exchange rates; our ability to identify, evaluate and complete acquisitions and other strategic transactions and to successfully integrate acquired companies; costs related to dispositions and product or market exits; our ability to obtain appropriate insurance coverage, positions taken by insurers relative to claims and the financial condition of insurers; safety and security performance and loss experience; employee and environmental liabilities in connection with former coal operations, including black lung claims; the impact of the Patient Protection and Affordable Care Act on legacy liabilities and ongoing operations; funding requirements, accounting treatment, and investment performance of our pension plans, the VEBA and other employee benefits; changes to estimated liabilities and assets in actuarial assumptions; the nature of hedging relationships and counterparty risk; access to the capital and credit markets; our ability to realize deferred tax assets; the outcome of pending and future claims, litigation, and administrative proceedings; public perception of our business, reputation and brand; changes in estimates and assumptions underlying critical accounting policies; the promulgation and adoption of new accounting standards, new government regulations and interpretation of existing standards and regulations.

This list of risks, uncertainties and contingencies is not intended to be exhaustive. Additional factors that could cause our results to differ materially from those described in the forward- looking statements can be found under "Risk Factors" in Item 1A of our Annual Report on Form 10-K for the period ended December 31, 2020 and in related disclosures in our other public filings with the Securities and Exchange Commission, including our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2021. Unless otherwise noted, the forward- looking information discussed today and included in these materials is representative as of today only and The Brink's Company undertakes no obligation to update any information contained in this document.

These materials are copyrighted and may not be used without written permission from Brink's.

Today's presentation is focused primarily on non-GAAP results. Detailed reconciliations of non-GAAP to GAAP results are included in the appendix and in the Second Quarter 2021 Earnings Release available in the Quarterly Results section of the Brink's website: www.brinks.com.

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Key Messages

Strong 2Q Results, Continued Growth Expected in Second Half and in 2022

Strong 2Q growth in revenue, operating profit, adjusted EBITDA and EPS

• Revenue up 27%...driven by organic growth of 15% and acquisitions
• Operating profit up 51%, margin up 160 bps to 10.5%
• Adjusted EBITDA up 39%, margin up 130 bps to 15.8%
• EPS up 62%...$1.18 vs $.73

2021 Guidance

(non-GAAP)

• Revenue % growth expected in mid-to-high teens
• Second-halfgrowth and margin expansion expected to drive strong increases in Op Profit, Adj. EBITDA and EPS

Expect Continued Growth in 2022

• Second-halfmomentum, continued re-openings lead to 2022 revenue that exceeds comparable pre-Covid levels
• Continued margin expansion to drive strong growth in Adj. EBITDA and cash flow

Investor Day planned for early December

• Detailed review of core and digital strategies
• 2023 financial targets to be disclosed

Notes: See detailed reconciliations of non-GAAP to GAAP results included in the Second Quarter 2021 Earnings Release available in the Quarterly Results section of the Brink's website www.brinks.com.	3

2021 Guidance

Strong Revenue and Margin Growth Expected in 2021

(non-GAAP, $ millions, except EPS)

Revenue1,2 +14 -19%

		$4,600
		$4,400
$3,680	$3,691	$4,200
2019	2020	2021
		Guidance

Op Profit1 +34%

		$556
		$511
		$466
$392	$381
10.6%	10.3%	~11.6%
Margin	Margin	Margin
2019	2020	2021
		Guidance

Adj. EBITDA1 +25%

			~15%
			growth
			$785-
			$825
			$750
			$705
			$660
$567	$566
15.4%	15.3%	~16.0%
Margin	Margin	Margin
2019	2020	2021	2022
		Guidance	Target

EPS1 +32%

		$5.55
		$4.95
		$4.35
$3.89	$3.76
2019	2020	2021
		Guidance

1. 2021 growth rates calculated based on mid-point of range provided vs 2020 except revenue which is calculated based on the low-point and mid-point.
2. Revenue Guidance reduced by $50M to reflect net vs gross revenue recognition for PAI.

Notes: See detailed reconciliations of non-GAAP to GAAP results included in the Second Quarter 2021 Earnings Release available in the Results section of the Brink's website www.brinks.com. See detailed reconciliations of non-GAAP to GAAP 2019 results in the Appendix.

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Second-Quarter 2021 Results

(non-GAAP, $ millions, except EPS)

Revenue +27%

Constant currency +22%

Organic +15%

Acq +7%

FX +5%

		$1,049	$1,010
$914
	$826
2019	2020	2021	Const.
			Curr.

Op Profit +51%

Constant currency +48%

Organic	+42%
Acq	+5%
FX		+4%
		$111	$108
$89
	$73
9.7%	8.9%	10.5%	10.7%
Margin	Margin	Margin	Margin
2019	2020	2021	Const.
			Curr.

Adj. EBITDA +39%

Constant currency +35%

		$166	$161
$133
	$120
14.6%	14.5%	15.8%	15.9%
Margin	Margin	Margin	Margin
2019	2020	2021	Const.
			Curr.

EPS +62%

Constant currency +56%

+59% excluding

MGI impact1

		$1.18	$1.14
$0.86
	$0.73
2019	2020	2021	Const.
			Curr.

Notes: See detailed reconciliations of non-GAAP to GAAP results included in the Second Quarter 2021 Earnings Release available in the Results section of the Brink's website www.brinks.com. See detailed reconciliations of non-GAAP to GAAP 2019 results in the Appendix.

Constant currency represents 2021 results at 2020 exchange rates.

1. Excludes the impact of mark-to-market accounting related to equity investment in MoneyGram International, Inc.

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