Investor PresentationFTI Consulting, Inc.

Cautionary Note about Forward-Looking Statements
This presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, that involve uncertainties and risks. Forward-looking statements include statements concerning our plans,
initiatives, projections, prospects, policies, processes and practices, objectives, goals, commitments, strategies, future events, future revenues, future results andperformance, future capital allocations and expenditures, expectations, plans or intentions relating to acquisitions, share repurchases and other matters,
business trends, new, or changes to, laws and regulations, including U.S. and foreign tax laws, environmental, social and governance ("ESG")-related issues,climate change-related matters, scientific or technological developments, including relating to new and emerging technologies, such as artificial intelligence andmachine learning and other information that is not historical. Forward-looking statements often contain words such as "estimates," "expects," "anticipates,""projects," "plans," "intends," "believes," "commits," "aspires," "forecasts," "future," "goal," "seeks" and variations of such words or similar expressions. All
forward-looking statements, including, without limitation, management’s financial guidance and examination of operating trends, are based upon our historicalperformance and our current plans, estimates, intentions and expectations at the time we make them, and various assumptions. Our actual financial results,
performance or achievements and outcomes could differ materially from those expressed in, or implied by, any forward-looking statements. Further, unaudited
quarterly results are subject to normal year-end adjustments. The Company has experienced fluctuating revenues, operating income and cash flows in priorperiods and expects that this will occur from time to time in the future. Other factors that could cause such differences include declines in demand for, orchanges in, the mix of services and products that we offer; the mix of the geographic locations where our clients are located or where services are performed;
fluctuations in the price per share of our common stock; adverse financial, real estate or other market and general economic conditions; the impact of publichealth crises and related events that are beyond our control, which could affect our segments, practices and the geographic regions in which we conductbusiness differently and adversely; and other future events, which could impact each of our segments, practices and the geographic regions in which we conductbusiness differently and could be outside of our control; the pace and timing of the consummation and integration of future acquisitions; the Company’s ability torealize cost savings and efficiencies; competitive and general economic conditions; retention of staff and clients; new laws and regulations or changes thereto;and other risks described under the heading "Item 1A, Risk Factors" in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filedwith the SEC on February 22, 2024 and in the Company’s other filings with the SEC. We are under no duty to update any of the forward-looking statements toconform such statements to actual results or events and do not intend to do so.

2

FTI Consulting: Experts with Impact
FTI Consulting is an independent global business advisory firm dedicated to helping organizations managechange, mitigate risk and resolve disputes

FCN

Publicly
Traded800+

Senior Managing
Directors

Advisor to
98 of the world’s
top 100 law firms

(1)

$8.1B

1982

8,000+

Equity Market
Capitalization (1)YearFoundedEmployees
Worldwide

86

33

20

CitiesCountries and Territories

Industry Practice Groups

83 of Fortune
Global 100 corporations

Advisor to 38 of theworld’s top 50 bankholding companies

Advisor to 64 of the top
100 firms on the Private
Equity International 300
list

are clients

All statistics above are as of December 31, 2023, except employees worldwide, equity market capitalization, Senior Managing Directors, cities and countries.
Equity market capitalization has been calculated by multiplying the number of total shares outstanding on July 18, 2024, by the closing price per share reported
on the New York Stock Exchange for July 25, 2024. Employees worldwide, Senior Managing Directors, cities and countries are as of June 30, 2024.

3

Our Global
ReachWith offices in 86 cities and 33 countries
and territories, FTI Consulting has apresence in every major financial centerand every corner of the globe, and we
successfully serve our clients whereverchallenges and opportunities arise.
Office Locations
Europe, Middle Asia
The Americas
East, Africa■ Argentina■ China■ Belgium■ Brazil■ India■ Denmark■ British Virgin■ Indonesia■ Finland
Islands■ Japan■ Canada■ France■ Malaysia■ Cayman Islands ■ Germany■ Singapore■ Colombia■ Ireland■ South Korea■ Mexico■ Italy■ United States ■ Netherlands
Australia■ Portugal■ Australia■ Qatar■ Saudi Arabia■ South Africa■ Spain■ Sweden■ Switzerland■ United ArabEmirates■ United Kingdom

FTI Consulting offices
Size of circle represents number of office locations in region, rather than number of employees

4Investment Thesis
Leading global business advisory firm with strong people and strong positions: corporations, law firms
and governments come to us when there is a critical need

Organic growth strategy with an emphasis on profitable revenue growthCommitted to building a profitable business with sustainable underlying growth, regardless of economic
conditions

Willingness to invest EBITDA in key growth areas where we have a right to win

Healthy balance sheet and strong cash flows with a commitment to return capital to our shareholders

Path toward sustained double-digit year-over-year Adjusted EPS growth over time5Business Snapshot:
Five Segments, One Purpose
Forensic and Litigation
Consulting
Corporate Finance &Restructuring▪
▪
▪
▪

Business Transformation
Strategy
Transactions
Turnaround & Restructuring

▪
▪
▪
▪
▪

Construction, Projects, Assets &Environmental Solutions
Data & Analytics
Disputes
Healthcare Risk Management &Advisory
Risk and Investigations

Economic Consulting▪

Strategic Communications▪
▪
▪

Corporate Reputation
Financial Communications
Public Affairs▪
▪

Antitrust & Competition
Economics
Financial Economics
International Arbitration

Technology▪
▪
▪

Corporate Legal Department
Consulting
E-discovery Services andExpertise
Information Governance, Privacy& Security Services

6

Segment Snapshot:
Segment Revenues and Total Adjusted Segment EBITDA
Q2 2024 Segment Revenues

Q2 2024 Total Adjusted Segment EBITDA (1)
7%

9%

13%

12%
37%
24%

42%
28%
10%

18%
Corporate Finance & Restructuring
Forensic and Litigation Consulting
Economic Consulting
Technology
Strategic Communications(1)

See accompanying financial tables and “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definition and reconciliation of Total
Adjusted Segment EBITDA, which is a non-GAAP financial measure, to the most directly comparable GAAP financial measure.
7

Corporate Finance & Restructuring
Services▪ Business Transformation– Enterprise Transformation– Office of the CFO & Finance Transformation– People & Change– Revenue & Operations– Technology Transformation▪ Strategy– Commercial Diligence– Commercial Excellence– Cost Transformation– Merger & Acquisition ("M&A") Strategy– Organization and Governance– Product Innovation and Research & Development▪ Transactions– Diligence (Financial, Tax, HR, IT, Synergy, Regulatory)– Fairness and Solvency Opinions– Investment Banking– Merger Integration & Carve-Out Advisory– Strategic Alternatives– Valuation▪ Turnaround & Restructuring– Company Advisory– Contentious Insolvency– Creditor Advisory– Dispute Advisory & Litigation Support– Interim Management(in thousands, except percentages andheadcount data) (Unaudited)(1)

(1)

(2)

Segment Revenues
Segment Gross Profit Margin (2)Segment SG&A (2)Adjusted Segment EBITDA (2)Adjusted Segment EBITDA Margin (2)Utilization
Revenue-Generating Professionals

2021$979,350
30.1%$138,989$158,019
16.1%
58%
1,822

26

countries andterritories

70

2,167

offices2022$1,147,118
33.2%$172,760$214,809
18.7%
60%
2,100

Q1 2023$315,652
32.3%$52,117$51,847
16.4%
59%
2,152

professionals

Q2 2023$317,912
30.1%$52,336$45,510
14.3%
58%
2,170

Q3 2023$347,560
33.4%$50,380$68,094
19.6%
60%
2,251

Q4 2023$365,554
32.4%$55,555$65,386
17.9%
61%
2,215

2023

$1,346,678
32.1%$210,388$230,837
17.1%
60%
2,215

Q1 2024$366,010
34.9%$55,068$75,225
20.6%
62%
2,185

Q2 2024$347,971
33.5%$52,495$66,467
19.1%
60%
2,167

Effective July 1, 2023, prior period segment information for the Corporate Finance & Restructuring and Forensic and Litigation Consulting segments has been recast in this presentation to include thereclassification of a portion of the Company’s health solutions practice in the Forensic and Litigation Consulting segment to the Company's business transformation & strategy practice within the Corporate
Finance & Restructuring segment.
Beginning with the annual and quarterly period ended December 31, 2023, the Company changed the presentation of interest income on forgivable loans on our Consolidated Statement of Comprehensive
Income. For the annual and quarterly period ended December 31, 2023, accrued interest income is recorded as a reduction to the direct costs of revenues, a line item in gross profit margin, and selling,
general and administrative expenses line items. Previously, these transactions were recorded to “interest income and other.” The change in presentation has been applied on a prospective basis and priorperiod financial information has not been recast.

8

Corporate Finance & Restructuring (continued)
Segment Offering

Q2 2024 Key Financial Commentary

Our Corporate Finance segment focuses on
the strategic, operational, financial,transactional and capital needs of our clientsaround the world. Our clients include
companies, boards of directors, investors,
private equity sponsors, lenders,
governments and other financing sources
and creditor groups, as well as other partiesin-interest. We deliver a wide range ofservices centered around four coreofferings: Business Transformation, Strategy,
Transactions and Turnaround &Restructuring.

▪ Revenues increased $30.1 million, or 9.5%, to $348.0 million for the three months ended

June 30, 2024, primarily due to higher demand and realized bill rates for our business
transformation & strategy and transactions services, which was partially offset by lower
restructuring revenues.

▪ Segment gross profit increased $20.8 million, or 21.8%, to $116.4 million for the threemonths ended June 30, 2024. Gross profit margin increased 3.4 percentage points for thethree months ended June 30, 2024. The increase in gross profit margin was primarily due tohigher realized bill rates and a 2 percentage point increase in utilization, which was partially
offset by lower success fees.

▪ Adjusted Segment EBITDA was $66.5 million, or 19.1% of segment revenues, compared with

$45.5 million, or 14.3% of segment revenues, in the prior year quarter.

Medium-Term Growth Opportunities
Enhance Business Transformation &Strategy and Transactions capabilities
Grow Restructuring globally
Deeper penetration of key industries e.g.,
Retail, Healthcare, Telecom, Media &Technology ("TMT"), Industrials, Automotiveand Energy

9Forensic and Litigation Consulting
Services
▪

▪

▪

▪

▪

Construction, Projects, Assets & Environmental Solutions–
Environmental Dispute Resolution–
Expert Services in Delay, Disruption, Quantum & Damages–
Project Delivery and Asset Management Advisory &Transformation
Data & Analytics–
Anti-corruption, Anti-money Laundering, Sanctions and Fraud
Investigations–
Data Strategy, Governance, and Reconciliation–
Dispute Resolution
Disputes–
Complex Commercial and Regulatory Disputes–
Financial Products and Broker-dealer Disputes–
Insurance-related Disputes–
Intellectual Property
Healthcare Risk Management & Advisory–
Disputes and Investigations–
Financial Advisory–
Managed Care & Value Based Care–
Risk, Regulatory & Quality
Risk and Investigations–
Accounting Advisory & Restatements–
Anti-Bribery & Corruption Investigations–
Anti-Money Laundering Investigations–
Cybersecurity–
Environmental, Social and Governance ("ESG") & Sustainability–
Export Controls, Sanctions & Trade–
Financial Regulatory Investigations–
Foreign Corrupt Practices Act Violations–
Forensic Accounting & Fraud Investigations–
Monitorships(in thousands, except percentages andheadcount data) (Unaudited)(1)

(1)

(2)

Segment Revenues
Segment Gross Profit Margin (2)Segment SG&A (2)Adjusted Segment EBITDA (2)Adjusted Segment EBITDA Margin (2)Utilization
Revenue-Generating Professionals

2021$544,454
30.1%$99,007$70,008
12.9%
56%
1,376

1,457

professionals

68

19

offices

2022$579,933
30.4%$117,728$63,573
11.0%
54%
1,430

Q1 2023$157,739
32.6%$31,025$21,784
13.8%
57%
1,427

countries

Q2 2023$164,760
33.3%$30,822$25,598
15.5%
58%
1,441

Q3 2023$166,137
33.2%$35,285$21,480
12.9%
57%
1,503

Q4 2023$165,469
33.3%$37,576$19,247
11.6%
56%
1,447

2023

$654,105
33.1%$134,708$88,109
13.5%
57%
1,447

Q1 2024$176,074
36.2%$31,600$33,709
19.1%
59%
1,463

Q2 2024$169,496
29.2%$36,205$14,994
8.8%
58%
1,457

Effective July 1, 2023, prior period segment information for the Corporate Finance & Restructuring and Forensic and Litigation Consulting segments has been recast in this presentation to include thereclassification of a portion of the Company’s health solutions practice in the Forensic and Litigation Consulting segment to the Company's business transformation & strategy practice within the Corporate
Finance & Restructuring segment.
Beginning with the annual and quarterly period ended December 31, 2023, the Company changed the presentation of interest income on forgivable loans on our Consolidated Statement of Comprehensive
Income. For the annual and quarterly period ended December 31, 2023, accrued interest income is recorded as a reduction to the direct costs of revenues, a line item in gross profit margin, and selling,
general and administrative expenses line items. Previously, these transactions were recorded to “interest income and other.” The change in presentation has been applied on a prospective basis and priorperiod financial information has not been recast.

10Forensic and Litigation Consulting (continued)
Segment Offering
Our Forensic and Litigation Consulting
segment provides law firms, companies,
boards of directors, government entities,
private equity firms and other interested
parties with a multidisciplinary andindependent range of services across risk andinvestigations and disputes, supported by ourdata & analytics technology-enabled
solutions, with a focus on highly regulatedindustries. Our services are centered aroundfive core offerings: Construction, Projects,
Assets & Environmental Solutions, Data &Analytics, Disputes, Healthcare Risk
Management & Advisory and Risk andInvestigations.

Q2 2024 Key Financial Commentary▪ Revenues increased $4.7 million, or 2.9%, to $169.5 million for the three months ended

June 30, 2024. Acquisition-related revenues contributed $1.9 million, or 1.2% of theincrease, compared to the same quarter in the prior year. Excluding the acquisition-related
impact, revenues increased $2.8 million, or 1.7%, primarily due to higher realized bill rates
for our construction solutions and health solutions services and higher demand for our
disputes services, which was partially offset by lower demand for our investigations services.

▪ Segment gross profit decreased $5.4 million, or 9.8%, to $49.6 million for the three months

ended June 30, 2024. Gross profit margin decreased 4.1 percentage points for the threemonths ended June 30, 2024. The decrease in gross profit margin was primarily due tohigher compensation, largely related to a new variable compensation plan for seniorprofessionals implemented during the three months ended June 30, 2024.

▪ Adjusted Segment EBITDA was $15.0 million, or 8.8% of segment revenues, compared with$25.6 million, or 15.5% of segment revenues, in the prior year quarter.

Medium-Term Growth Opportunities
Enhance Construction & Environmental
Solutions, Cybersecurity and Data &Analytics capabilities
Grow overseas businesses e.g., United
Kingdom and Hong Kong
Increase utilization in Disputes,
Investigations and Health Solutions practices
11Economic Consulting
Services▪ Antitrust & Competition Economics– M&A-related Antitrust– Non-M&A-related Antitrust

19▪ Financial Economics– Contractual Claims– Rate Setting– Securities Litigation & Risk Management– Transfer Pricing– Valuation

countries▪ International Arbitration– Business Valuations– Commercial and Treaty Disputes– Economic Damages– Litigation Support

(1)

47

1,076

offices

professionals(in thousands, except percentages andheadcount data) (Unaudited)

2021

2022

Q1 2023

Q2 2023

Q3 2023

Q4 20232023

Q1 2024

Q2 2024

Segment Revenues
Segment Gross Profit Margin (1)Segment SG&A (1)Adjusted Segment EBITDA (1)Adjusted Segment EBITDA Margin (1)Utilization
Revenue-Generating Professionals$697,405
27.1%$77,368$117,186
16.8%
72%
921

$695,20826.5%$86,012$103,090
14.8%
68%
1,007

$169,595
22.3%$25,049$14,193
8.4%
68%
1,031

$201,822
29.5%$25,520$35,523
17.6%
69%
1,039

$193,866
28.6%$29,150$27,756
14.3%
65%
1,085

$206,091
32.0%$29,140$38,335
18.6%
65%
1,089

$771,374
28.3%$108,859$115,807
15.0%
67%
1,089

$204,548
22.1%$32,243$14,150
6.9%
68%
1,091

$230,873
31.1%$28,882$44,296
19.2%
70%
1,076

Beginning with the annual and quarterly period ended December 31, 2023, the Company changed the presentation of interest income on forgivable loans on our Consolidated Statement of Comprehensive
Income. For the annual and quarterly period ended December 31, 2023, accrued interest income is recorded as a reduction to the direct costs of revenues, a line item in gross profit margin, and selling, generaland administrative expenses line items. Previously, these transactions were recorded to “interest income and other.” The change in presentation has been applied on a prospective basis and prior period
12
financial information has not been recast.

Economic Consulting (continued)
Segment Offering
Our Economic Consulting segment, including
subsidiary Compass Lexecon LLC, provides
law firms, companies, government entities
and other interested parties with analyses ofcomplex economic issues for use ininternational arbitration, legal and regulatory
proceedings, and strategic decision making
and public policy debates around the world.
We deliver a wide range of services centeredaround three core offerings: Antitrust &Competition Economics, Financial Economics
and International Arbitration.

Q2 2024 Key Financial Commentary▪ Revenues increased $29.1 million, or 14.4%, to $230.9 million for the three months ended
June 30, 2024, primarily due to higher demand and realized bill rates for our M&A-related
antitrust and financial economics services, which was partially offset by lower demand andrealized bill rates for our non-M&A related antitrust services.
▪ Segment gross profit increased $12.3 million, or 20.6%, to $71.8 million for the threemonths ended June 30, 2024. Gross profit margin increased 1.6 percentage points for thethree months ended June 30, 2024. The increase in gross profit margin was primarily due tohigher realized bill rates and lower variable compensation as a percentage of revenues.
▪ Adjusted Segment EBITDA was $44.3 million, or 19.2% of segment revenues, comparedwith $35.5 million, or 17.6% of segment revenues, in the prior year quarter.

Medium-Term Growth Opportunities
Maintain leading position of Compass
Lexecon in the U.S.
Grow overseas businesses e.g., EMEA,
Australia and Asia
Develop adjacent businesses in the U.S. e.g.,
International Arbitration, Energy, Healthcare,
TMT and Financial Services
13

Technology
Services▪ Corporate Legal Department Consulting– Advisory on Governance, Policy, Standards and Execution– Advisory on Operational Efficiencies– Contract Services– Legal Technology Selection and Implementation– Subscriptions and Managed Services▪ E-discovery Services and Expertise– Analytics Research– AI & Data Analytics– Blockchain Advisory Services– Cryptocurrency Disputes and Investigations– Digital Asset Advisory Services– E-discovery and Data Compliance Management– Emerging Data Sources Discovery and Governance– Investigations and Digital Forensics– Managed Document Review and Production– M&A-related Second Requests▪ Information Governance, Privacy & Security Services– Data Privacy Program Development and Implementation– Data Remediation, Disposition and Protection– Data Subject Access Requests– Migration of Enterprise Data to Cloud Applications– Pixel, Ad Tracker and AdTech Services– Post Data Breach Privacy Analysis and Response– Regulatory Readiness Advisory and Implementation

(1)

18

countries

43662

offices

professionals(in thousands, except percentages andheadcount data) (Unaudited)

2021

2022

Q1 2023

Q2 2023

Q3 2023

Q4 20232023

Q1 2024

Q2 2024

Segment Revenues
Segment Gross Profit Margin (1)Segment SG&A (1)Adjusted Segment EBITDA (1)Adjusted Segment EBITDA Margin (1)Revenue-Generating Professionals$287,366
38.6%$67,912$55,73919.4%
468$319,983
35.4%$79,835$46,698
14.6%
556$90,618
40.4%$24,750$15,366
17.0%
581$97,44437.9%$20,462$20,087
20.6%
589$98,860
37.8%$25,841$14,87315.0%
629$100,933
37.3%$29,263$12,38512.3%
628$387,855
38.3%$100,316$62,71116.2%
628$100,713
36.4%$25,705$14,58114.5%
646$115,875
37.5%$26,288$20,930
18.1%
662

Beginning with the annual and quarterly period ended December 31, 2023, the Company changed the presentation of interest income on forgivable loans on our Consolidated Statement of Comprehensive
Income. For the annual and quarterly period ended December 31, 2023, accrued interest income is recorded as a reduction to the direct costs of revenues, a line item in gross profit margin, and selling, general 14
and administrative expenses line items. Previously, these transactions were recorded to “interest income and other.” The change in presentation has been applied on a prospective basis and prior period
financial information has not been recast.

Technology (continued)
Segment Offering
Our Technology segment provides
companies, law firms, private equity firms
and government entities with acomprehensive global portfolio of digital
insights and risk management consulting
services. Our professionals help organizations
better address risk as the growing volume
and variety of enterprise and emerging dataintersects with legal, regulatory andcompliance needs. We deliver a wide range ofexpert and analytics-powered solutions
driven by investigations, litigation, antitrustand competition, M&A, restructuring andcompliance and risk through three coreofferings: Corporate Legal Department
Consulting, E-discovery Services andExpertise, and Information Governance,
Privacy & Security Services.

Q2 2024 Key Financial Commentary▪ Revenues increased $18.4 million, or 18.9%, to $115.9 million for the three months ended
June 30, 2024, primarily due to higher demand for M&A-related “second request” services,which was partially offset by lower demand for investigations services.
▪ Segment gross profit increased $6.5 million, or 17.7%, to $43.4 million for the three months
ended June 30, 2024. Gross profit margin decreased 0.4 percentage points for the threemonths ended June 30, 2024. The decrease in gross profit margin was primarily due to alower mix of our higher margin hosting services and decreased profitability of our consulting
services, which was partially offset by a higher mix and profitability of our processing andmanaged review services.
▪ Adjusted Segment EBITDA was $20.9 million, or 18.1% of segment revenues, comparedwith $20.1 million, or 20.6% of segment revenues, in the prior year quarter.

Medium-Term Growth Opportunities
Expand addressable market through new
distribution channels for Consulting &Services.
Invest in new and adjacent services e.g.,
Information Governance, Privacy & Security
Services and Contract Intelligence
Grow overseas businesses
15Strategic Communications
Services▪ Corporate Reputation– Crisis & Issues Management– Cybersecurity & Data Privacy Communications– Digital, Analytics & Insights– ESG & Sustainability– Litigation Communications– People & Transformation▪ Financial Communications– Corporate Governance & Shareholder
Activism– M&A Communications– Restructuring & Financial Issues▪ Public Affairs– Government Investigations– Government Relations– Public Affairs Research & Opinion Polling– Public Affairs Strategy– Public Policy Advocacy

(1)

972

professionals

42

22

officescountries(in thousands, except percentages andheadcount data) (Unaudited)

2021

2022

Q1 2023

Q2 2023

Q3 2023

Q4 20232023

Q1 2024

Q2 2024

Segment Revenues
Segment Gross Profit Margin (1)Segment SG&A (1)Adjusted Segment EBITDA (1)Adjusted Segment EBITDA Margin (1)Revenue-Generating Professionals$267,647
38.2%$50,114$54,31320.3%
814$286,666
37.9%$60,716$50,62017.7%
970$73,10234.6%$16,529$9,556
13.1%
995$82,65335.8%$18,213$12,26314.8%
992$86,83835.0%$17,844$13,454
15.5%
1,010

$86,63739.0%$19,029$15,63618.0%
971$329,230
36.2%$71,615$50,90915.5%
971$81,208
36.0%$17,723$12,42615.3%
981$84,941
35.5%$19,481$11,61113.7%
972

Beginning with the annual and quarterly period ended December 31, 2023, the Company changed the presentation of interest income on forgivable loans on our Consolidated Statement of Comprehensive
Income. For the annual and quarterly period ended December 31, 2023, accrued interest income is recorded as a reduction to the direct costs of revenues, a line item in gross profit margin, and selling, generaland administrative expenses line items. Previously, these transactions were recorded to “interest income and other.” The change in presentation has been applied on a prospective basis and prior period
16
financial information has not been recast.

Strategic Communications (continued)
Segment Offering
Our Strategic Communications segment
develops and executes communications
strategies to help management teams,
boards of directors, law firms, governments
and regulators manage change and mitigate
risk surrounding transformational anddisruptive events, including transactions,investigations, disputes, crises, regulationand legislation. We deliver a wide range ofservices centered around three coreofferings: Corporate Reputation, Financial
Communications and Public Affairs.

Q2 2024 Key Financial Commentary▪ Revenues increased $2.3 million, or 2.8%, to $84.9 million for the three months ended June30, 2024. Pass-through revenues contributed $1.7 million, or 2.1% of the increase,
compared to the same quarter in the prior year. Excluding the pass-through revenues
impact, revenues increased $0.6 million, or 0.7%, primarily due to higher public affairs
revenues, which was partially offset by lower corporate reputation revenues.

▪ Segment gross profit increased $0.6 million, or 2.0%, to $30.2 million for the three months
ended June 30, 2024. Gross profit margin decreased 0.3 percentage points for the threemonths ended June 30, 2024. The decrease in gross profit margin was primarily due tohigher compensation expenses as a percentage of revenues excluding revenues related topass-through expenses.
▪ Adjusted Segment EBITDA was $11.6 million, or 13.7% of segment revenues, comparedwith $12.3 million, or 14.8% of segment revenues, in the prior year quarter.

Medium-Term Growth Opportunities
Further develop large, complex client
relationships
Enhance market share in highly regulatedindustries e.g., Financial Services, Energy,
Healthcare, Industrials and TMTLeverage FTI Consulting’s services andplatform to enhance client results

17Second Quarter 2024
Select Awards & Accolades

18

Environmental, Social & Governance (“ESG”):
Our Commitment & Progress
FTI Consulting’s approach to ESG underscores our commitment to being Experts With Impact who make apositive difference for our clients and communities.

Environmental

SocialGovernanceWe strive to do our part in addressing climatechange and reducing our collective
environmental impact.

We seek to foster a diverse and inclusive culture
and to empower our people to help the world
more broadly.

▪ Commitment to achieving Net-Zero GHG
emissions by 2030, and set forward-looking
targets toward our ambition▪

Participant of the United Nations’ Global
Compact

Our approach to corporate governance isinformed by principled actions, effective
decision-making, and appropriate monitoringof compliance, risks and performance.

▪

Report on workforce gender and ethnicity
demographics and various goals to promote
diversity & inclusion at all levels of the firm▪

▪ Contract with third parties who represent
they use sustainable practices for new officebuild outs, such as:▪ Utilize construction materials that meetstringent guidelines for reduced emissions▪ Disclose GHG emissions and total energy use▪ 57% reduction in emissions intensity per
employee from 2018 to 2021

▪ Leverage energy efficiency measures▪ Target diverting at least 75% of total
construction waste from landfills throughrecycling▪ 62% of professionals based in LEED-certified(or equivalent) offices▪

Nominating, Corporate Governance andSocial Responsibility Committee of theBoard reviews and oversees ESG-related
policies and activities

Robust talent development program for
employees▪

89% of the Board represents independent
directors▪

Employees may use up to 35 hours each year
to participate in pro bono projects▪

Independent non-employee Chairman of
the Board▪

Charitable gift matching program▪

▪

Employees receive a full day of FTIConsulting-sponsored volunteer time eachyear

Annual election of directors by majority inuncontested elections, with director
resignation policy▪

22% of directors are female▪

22% of directors are racially diverse▪

22% of directors are based outside of the
U.S.

▪ Server infrastructure is 90%+ virtualized
19

FY 2021 – Q2 2024 and FY 2024 Guidance: Revenues$3,700 - $3,790

21

FY 2021 – Q2 2024: Net Income and Adjusted EBITDA
Net Income

Adjusted EBITDA (1) (2)(1)

See accompanying financial tables and “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definition and reconciliation of Adjusted EBITDA, which is a non-GAAP
financial measure, to the most directly comparable GAAP financial measure.

(2)

Beginning with the annual and quarterly period ended December 31, 2023, the Company changed the presentation of interest income on forgivable loans on our Consolidated
Statement of Comprehensive Income. For the annual and quarterly period ended December 31, 2023, accrued interest income is recorded as a reduction to the direct costs ofrevenues, a line item in gross profit margin, and selling, general and administrative expenses line items. Previously, these transactions were recorded to “interest income andother.” The change in presentation has been applied on a prospective basis and prior period financial information has not been recast.

22

FY 2021 – Q2 2024 and FY 2024 Guidance: Earnings per Diluted
Share and Adjusted Earnings per Diluted Share$8.10 - $8.60(1)$8.10 - $8.60(1)

See accompanying financial tables and “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definition and reconciliation of Adjusted Earnings per
Diluted Share, which is a non-GAAP financial measure, to the most directly comparable GAAP financial measure.

23

Q2 2024, Q1 2024 and Q2 2023:
Select Cash Position and Capital Allocation
Q2 2024

All numbers in thousands, except for DSO

Q1 2024

Q2 2023

Cash and cash equivalents$

226,428 $

243,960 $

203,539

Accounts receivable, net$

1,190,521 $

1,157,465 $

1,138,061

Days sales outstanding (“DSO”) (1)

105

105

111

Net cash provided by (used in) operating activities$

135,226 $(274,818) $(10,994)

Purchases of property and equipment$(10,060) $(4,641) $(11,052)

Total Debt$

60,000 $205,000 $340,757

Free Cash Flow (2)$125,166 $(279,459) $(22,046)(1)

DSO is a performance measure used to assess how quickly revenues are collected by the Company. We calculate DSO at the end of each reporting period bydividing net accounts receivable reduced by billings in excess of services provided, by revenues for the quarter, adjusted for changes in foreign exchange rates. We
multiply the result by the number of days in the quarter.

(2)

See “Financial Tables” and “End Notes: FTI Consulting Non-GAAP Financial Measures” for the reconciliation and definition of Free Cash Flow, which is a non-GAAP
financial measure, to the most directly comparable GAAP financial measure.
24

25

Reconciliation of Net Income to Adjusted EBITDA(in thousands)

Net income

Q2 2024
Q1 2024
FY 2023
FY 2022
FY 2021$83,947 $79,965 $ 274,892 $ 235,514 $ 234,966

Income tax provision

18,735

19,53083,471

62,23562,981

Interest income and other (1)(1,909)(1,581)

4,867(3,918)(6,193)

Interest expense

3,319

1,719

14,331

10,047

20,294

Depreciation and amortization

10,74910,424

41,07935,69734,269Amortization of intangible assets

1,080

1,016

6,159

9,643

10,823Special charges

—

—

—

8,340

—

Remeasurement of acquisition-related contingent consideration

—

—

—

—

(3,130)115,921 $111,073 $424,799 $Adjusted EBITDA (1) (2)$357,558 $

354,010(1)

Beginning with the annual and quarterly period ended December 31, 2023, the Company changed the presentation of interest income on forgivable loans on
our Consolidated Statement of Comprehensive Income. For the annual and quarterly period ended December 31, 2023, accrued interest income is recorded
as a reduction to the direct costs of revenues, a line item in gross profit margin, and selling, general and administrative expenses line items. Previously, thesetransactions were recorded to “interest income and other.” The change in presentation has been applied on a prospective basis and prior period financial
information has not been recast.

(2)

See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definition of Adjusted EBITDA, which is a non-GAAP financial measure.

26

Reconciliations of Net Income to Adjusted Net Income andEarnings per Diluted Share to Adjusted Earnings per Diluted Share(in thousands, except for per share data)
Net income$

Q2 2024

83,947 $Q1 2024

79,965 $FY 2023

274,892 $FY 2022235,514 $FY 2021234,966

Add back:Special charges

—

—

—

8,340

—

Tax impact of special charges

—

—

—

(1,584)—Remeasurement of acquisition-related contingent consideration

—

—

—

—

(3,130)Non-cash interest expense on convertible notes

—

—

—

—

9,586

—

—

—

—

(2,492)Adjusted Net Income (1)Tax impact of non-cash interest expense on convertible notes$

83,947 $79,965 $274,892 $242,270 $

238,930

Earnings per common share – diluted$

2.34 $

2.23 $

7.71 $

6.58 $

6.65

Special charges

—

—

—

0.23

—

Tax impact of special charges

—

—

—

(0.04)—

Remeasurement of acquisition-related contingent consideration

—

—

—

—

(0.09)

Non-cash interest expense on convertible notes

—

—

—

—

0.27

Add back:

Tax impact of non-cash interest expense on convertible notes
Adjusted earnings per common share – diluted (1)Weighted average number of common shares outstanding – diluted

(1)

$

—

—

—

—

(0.07)

2.34 $

2.23 $

7.71 $

6.77 $

6.76

35,84535,78735,64635,783

See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definitions of Adjusted Net Income and Adjusted Earnings per Diluted Share, which are
non-GAAP financial measures.

35,33727

Reconciliation of Net Income to Total Adjusted Segment EBITDA
Q2 2024(in thousands)

Net income$

83,947

Add back:
Income tax provision

18,735Interest income and other(1,909)Interest expense

3,319

Unallocated corporate expenses

42,884

Segment depreciation expense

10,242

Amortization of intangible assets

1,080

Total Adjusted Segment EBITDA (1)(1)$

158,298

See "End Notes: FTI Consulting Non-GAAP Financial Measures" for the definition of Total Adjusted Segment EBITDA, which is a non-GAAP financial measure.
28

Reconciliation of Net Cash Provided by (Used in) Operating
Activities to Free Cash Flow
Q2 2024(in thousands)

Net cash provided by (used in) operating activities$

Purchases of property and equipment
Free Cash Flow (1)(1)$

Q1 2024

Q2 2023

135,226 $(274,818) $(10,994)(10,060)(4,641)(11,052)

125,166 $(279,459) $(22,046)

See “End Notes: FTI Consulting Non-GAAP Financial Measures” for the definition of Free Cash Flow, which is a non-GAAP financial measure.
29

End Notes: FTI Consulting Non-GAAP Financial Measures
In this presentation, we sometimes use information derived from consolidated and segment financial information that may not be presented in our financial statements or prepared inaccordance with generally accepted accounting principles in the United States ("GAAP"). Certain of these financial measures are considered not in conformity with GAAP (“non-GAAP
financial measures”) under the Securities and Exchange Commission ("SEC") rules. Specifically, we have referred to the following non-GAAP financial measures in this presentation:
•
•
•
•
•
•

Total Segment Operating Income
Adjusted EBITDA
Total Adjusted Segment EBITDA
Adjusted Net Income
Adjusted Earnings per Diluted Share
Free Cash Flow

We have included the definitions of Segment Operating Income and Adjusted Segment EBITDA, which are GAAP financial measures, below in order to more fully define the componentsof certain non-GAAP financial measures in this presentation. We define Segment Operating Income as a segment’s share of consolidated operating income. We define Total Segment
Operating Income, which is a non-GAAP financial measure, as the total of Segment Operating Income for all segments, which excludes unallocated corporate expenses. We use Segment
Operating Income for the purpose of calculating Adjusted Segment EBITDA. We define Adjusted Segment EBITDA as a segment’s share of consolidated operating income before
depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges and goodwill impairment charges. We use Adjusted
Segment EBITDA as a basis to internally evaluate the financial performance of our segments because we believe it reflects current core operating performance and provides an indicatorof the segment’s ability to generate cash.
We define Total Adjusted Segment EBITDA, which is a non-GAAP financial measure, as the total of Adjusted Segment EBITDA for all segments, which excludes unallocated corporate
expenses. We define Adjusted EBITDA, which is a non-GAAP financial measure, as consolidated net income before income tax provision, other non-operating income (expense),
depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges, gain or loss on sale of abusiness and losses on early extinguishment of debt. We believe that these non-GAAP financial measures, when considered together with our GAAP financial results and GAAP financial
measures, provide management and investors with a more complete understanding of our operating results, including underlying trends. In addition, EBITDA is a common alternative
measure of operating performance used by many of our competitors. It is used by investors, financial analysts, rating agencies and others to value and compare the financial
performance of companies in our industry. Therefore, we also believe that these non-GAAP financial measures, considered along with corresponding GAAP financial measures, provide
management and investors with additional information for comparison of our operating results with the operating results of other companies.
We define Adjusted Net Income and Adjusted Earnings per Diluted Share (“Adjusted EPS”), which are non-GAAP financial measures, as net income and earnings per diluted share ("EPS"),
respectively, excluding the impact of remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges, losses on early extinguishment ofdebt, non-cash interest expense on convertible notes and the gain or loss on sale of a business. We use Adjusted Net Income for the purpose of calculating Adjusted EPS. Management
uses Adjusted EPS to assess total Company operating performance on a consistent basis. We believe that these non-GAAP financial measures, when considered together with our GAAP
financial results and GAAP financial measures, provide management and investors with an additional understanding of our business operating results, including underlying trends.
We define Free Cash Flow, which is a non-GAAP financial measure, as net cash provided by (used in) operating activities less cash payments for purchases of property and equipment. We
believe this non-GAAP financial measure, when considered together with our GAAP financial results, provides management and investors with an additional understanding of theCompany’s ability to generate cash for ongoing business operations and other capital deployment.
Non-GAAP financial measures are not defined in the same manner by all companies and may not be comparable with other similarly titled measures of other companies. Non-GAAP
financial measures should be considered in addition to, but not as a substitute for or superior to, the information contained in our Condensed Consolidated Statements of Comprehensive
Income and Condensed Consolidated Statements of Cash Flows.

30

Experts with ImpactTM31