Company: JLL
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001037976-25-000071
Chunk: 53

Company: JONES LANG LASALLE INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 53
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 offset by the $18.0 million of loan-related expenses recognized in the first half of 2024.

Adjusted EBITDA increases for the quarter and first nine months of 2025 were primarily attributable to the revenue growth described above, net of associated commission expenses, partially offset by the impact of incremental loan-related losses.

41

Investment Management

% ChangeThree Months Ended September 30,Change inin Local($ in millions)20252024U.S. dollarsCurrencyAdvisory fees$93.0 92.7 0.3 — %(1)%Transaction fees and other5.9 8.6 (2.7)(31)(30)Incentive fees16.5 — 16.5 n.m.n.m.Revenue$115.4 101.3 14.1 14 %12 %Platform compensation and benefits$68.0 59.8 8.2 14 %12 %Platform operating, administrative and other16.1 18.7 (2.6)(14)(15)Depreciation and amortization2.7 1.9 0.8 42 46 Segment platform operating expenses86.8 80.4 6.4 8 6 Gross contract costs7.8 9.3 (1.5)(16)(17)Segment operating expenses$94.6 89.7 4.9 5 %4 %Adjusted EBITDA(1)$23.7 14.0 9.7 69 %62 %Equity earnings (losses)$9.3 (13.8)23.1 n.m.n.m.

42

Investment Management (continued)

% ChangeNine Months Ended September 30,Change inin Local($ in millions)20252024U.S. dollarsCurrencyAdvisory fees$275.6 278.1 (2.5)(1)%(2)%Transaction fees and other20.9 24.4 (3.5)(14)(15)Incentive fees20.5 4.8 15.7 327 300 Revenue$317.0 307.3 9.7 3 %2 %Platform compensation and benefits$187.2 180.1 7.1 4 %3 %Platform operating, administrative and other49.9 52.1