Brink : Second Quarter 2023 Earnings Presentation

Second-Quarter 2023 Earnings

August 9, 2023

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: 2023 outlook, including revenue, operating profit, adjusted EBITDA, earnings per share, net debt and leverage, free cash flow and the drivers thereof; 2024 financial targets; acquisition-related synergies; capital allocation priorities, including expected share repurchase activity and future dividend increases; future operating profit impact related to global restructuring activities; the impact of macroeconomic factors; strategic priorities and initiatives; and expected impact from deployment of tech-enabled solutions, including digital retail solutions and ATM managed services.

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; general economic issues, including supply chain disruptions, fuel price increases, inflation, and changes in interest rates; 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, including from a cybersecurity incident; 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 (including political conflict or unrest), 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 labor shortages, 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 American Rescue Plan Act and 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, 2022 and in related disclosures in our other public filings with the Securities and Exchange Commission. 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 2023 Earnings Release available in the Quarterly Results section of the Brink's website: www.brinks.com

2

Key Messages

Results summary

(non-GAAP)

• Revenue up 7% (+8% organic)
• • Organic growth of 5% in Cash and Valuables Management

‒ Organic growth of 19% in ATM Managed Services (AMS) and Digital Retail Solutions (DRS)

• Operating profit +6% to $132M (+13% organic), margin 10.8%
• Adjusted EBITDA+4% to $194M, margin 16.0%
• Year-to-datefree cash flow of $66M…233% improvement year-over-year

Progress on strategicpriorities continues to drive strong results

• Continued strong pricing discipline, with price increases in excess of cost inflation across all segments
• Improving revenue mix, with AMS / DRS year-to-date revenue growth of 44%
• Free cash flow improved $115M year-to-date…meaningful progress toward our $147M full-year FCF improvement target1
• • Driven by increased management focus and FCF performance metric included in cash incentive plan
• Operating profit expansion from price and revenue mix benefits, productivity gains, and restructuring
• Profit benefits in the quarter were offset by a $12M increase in security losses, primarily from a large event in our BGS line of business

2023 Guidance Affirmed

• Revenue growth of 6% - 9% (+7% - 11% organic)
• Operating profit between $625 - $675M, margin expansion of ~120bps
• Adjusted EBITDAbetween $865 - $915M, margin expansion of ~90bps
• EPS between $6.45 - $7.15, growth of ~14%
• Free cash flow between $325 - $375M with conversion from adjusted EBITDAof ~40%

Notes: See detailed reconciliations of non-GAAP to GAAP results included in the Second Quarter 2023 Earnings Release available in the Results sectionof the Brink's website www.brinks.com. 1. At midpoint of guidancerange.

3

AMS/DRS Delivering Growth and Margin Improvement

20% of Revenue from AMS/DRS Expected by Year End 2023

Brink's Revenue Mix

Customer Offerings

Cash & Valuables Management

~20%

					16%
			13%
10%	$530	$743
$359
2020	2021	2022		2023 Target
		AMS/DRS		Cash & Valuables Mgmt				AMS/DRS Percent of Total

Growth

supported by a robust global pipeline

• Strong organic growth of 5%
• Strong price/cost discipline
• Improvements in productivity leveraging Brink's Business System
• Improved labor turnover in North America

Digital Retail Solutions

• June had more contract closings in U.S. than any other month of the year
• Recent wins - a leading arts and crafts retailer, a publicly traded entertainment business and a Mexican multi-channel fashion retailer

ATM Managed Services

• BPCE fully implemented
• Financial institution interest and pipeline continue to grow
• Recent wins - Two new financial institutions in Jordan

DRS / AMS represent 19% of TTM revenue with YTD organic growth of 25% and total growth of 44%

4

Second-Quarter 2023 Results

Margins Impacted by Timing of Loss

(non-GAAP, $ millions, except EPS)

Revenue +7%

Constant Currency +11%

Organic	+8%
Acq		+3%
FX		(4%)
		$1,216
	$1,134
$1,049
2021	2022	2023

Op Profit +6%

Constant Currency +18%

Organic +13%

Acq +5%

FX (12%)

Excl. Sec.

Loss Impact2

$144 Margin11.8%

$132

$124

$111

10.5% 10.9% 10.8%

Margin Margin Margin

2021 2022 2023

Adj. EBITDA +4%

Constant Currency +12%

Excl. Sec.

Loss Impact2

$207 Margin17.0%

$187 $194

$166

15.8% 16.4% 16.0% Margin Margin Margin

2021 2022 2023

EPS (12%)

Constant Currency +4%

Excl. Sec.

Loss Impact2

		$1.36
	$1.34
$1.15		$1.18
$0.99
Excl.
MGI
Gain1
2021	2022	2023

Notes: See detailed reconciliations of non-GAAP to GAAP results included in the Second Quarter 2023 Earnings Release available in the Results sectionof the Brink's website www.brinks.com. See detailed reconciliations of non-GAAP to GAAP 2021 results in the Appendix. Constant currency represents 2023 results at 2022 exchange rates.

1. Excludes the impact of mark-to-market accounting related to equity investment in MoneyGram International, Inc. (MGI). The second quarter of 2021 included a gain of $11 million ($0.16 per share) in MGI stock, which was sold in July 2021 and had no impact on 2022 or 2023 results.
2. Excludes second-quarter $12 million year-over-year increase in security losses, primarily from one large loss event in our BGS line of business.

5