# EDGAR Filing Document

**Accession Number:** 0000025475
**File Stem:** 0000950170-25-102023
**Filing Date:** 2025-8
**Character Count:** 78174
**Document Hash:** 6639df4deb870c14c6df6e1f8dd06796
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-25-102023.hdr.sgml**: 20250804

**ACCESSION NUMBER**: 0000950170-25-102023

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 49

**CONFORMED PERIOD OF REPORT**: 20250804

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250804

**DATE AS OF CHANGE**: 20250804

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CRAWFORD & CO
- **CENTRAL INDEX KEY:** 0000025475
- **STANDARD INDUSTRIAL CLASSIFICATION:** INSURANCE AGENTS BROKERS & SERVICES [6411]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 580506554
- **STATE OF INCORPORATION:** GA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-10356
- **FILM NUMBER:** 251180513

**BUSINESS ADDRESS:**
- **STREET 1:** 5335 TRIANGLE PARKWAY
- **CITY:** PEACHTREE CORNERS
- **STATE:** GA
- **ZIP:** 30092
- **BUSINESS PHONE:** 4043001000

**MAIL ADDRESS:**
- **STREET 1:** 5335 TRIANGLE PARKWAY
- **CITY:** PEACHTREE CORNERS
- **STATE:** GA
- **ZIP:** 30092

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM** 8-K

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE**

**SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported):** August 4, 2025

CRAWFORD & COMPANY

(Exact Name of Registrant as Specified in Its Charter)

Georgia

(State or Other Jurisdiction of Incorporation)

---

| | |
|:---|:---|
| 1-10356 | 58-0506554 |
| (Commission File Number) | (IRS Employer Identification No.) |
| 5335 Triangle Parkway**,** Peachtree Corners**,** Georgia | 30092 |
| (Address of Principal Executive Offices) | (Zip Code) |

---

**(**404**)** 300-1000

(Registrant's Telephone Number, Including Area Code)

**N/A**

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Act of 1934.

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities Registered Pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Class A Common Stock — $1.00 Par Value | CRD-A | New York Stock Exchange**, Inc.** |
| Class B Common Stock — $1.00 Par Value | CRD-B | New York Stock Exchange**, Inc.** |

---

------

**Item 2.02. Results of Operations and Financial Condition**

On August 4, 2025, Crawford & Company (the "Company") issued a press release containing information about the Company's financial results for the second quarter 2025. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by this reference.

**Item 7.01. Regulation FD Disclosure**

The Company has made available on the Company's website at https://ir.crawco.com a presentation designed to enhance the information presented at its quarterly earnings conference call on Tuesday, August 5, 2025 at 8:30 a.m. Eastern Time. A copy of the presentation is attached hereto as Exhibit 99.2 and is incorporated herein by this reference.

**Item 9.01. Financial Statements and Exhibits**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The following exhibits are being filed herewith:

---

| | |
|:---|:---|
| Exhibit No. | Description |
| 99.1 | [<u>Press Release dated August 4, 2025</u>](crda-ex99_1.htm) |
| 99.2 | [<u>Slide Presentation</u>](crda-ex99_2.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

The information contained in this current report on Form 8-K and in the accompanying exhibits shall not be incorporated by reference into any filing of the Company with the SEC, whether made before or after the date hereof, regardless of any general incorporation by reference language in such filing, unless expressly incorporated by specific reference to such filing. The information, including the exhibits hereto, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended.

------

SIGNATURE

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | CRAWFORD & COMPANY | CRAWFORD & COMPANY |
|  | (Registrant) | (Registrant) |
|  | By: | /s/ W. BRUCE SWAIN |
|  |  | W. Bruce Swain |
|  |  | Executive Vice President - |
|  |  | Chief Financial Officer |
| Dated: August 4, 2025 |  |  |

---

------

## Exhibit 99.1

**Exhibit 99.1**

---

| | |
|:---|:---|
| &nbsp;&nbsp;![img78166201_0.jpg](img78166201_0.jpg) | &nbsp;&nbsp;![img78166201_1.jpg](img78166201_1.jpg) |

---

Crawford & Company®

5335 Triangle Parkway

Peachtree Corners, GA 30092

**FOR IMMEDIATE RELEASE**

**CRAWFORD & COMPANY REPORTS 2025 SECOND QUARTER RESULTS**

***Continued Revenue Growth in Second Quarter***

***Quarterly Dividend Increases to $0.075*** 

ATLANTA, (August 4, 2025) -- Crawford & Company® (NYSE: CRD-A and CRD-B), is pleased to announce its financial results for the second quarter ended June 30, 2025.

Revenues before reimbursements increased 3% to $323.0 million in the 2025 second quarter from $314.2 million in the 2024 second quarter. Second quarter net income was $7.8 million, or $0.16 per diluted share for CRD-A and CRD-B, compared to $8.6 million, or $0.17 per diluted share for CRD-A and CRD-B in the prior year quarter.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **GAAP Consolidated Results** | **GAAP Consolidated Results** | **GAAP Consolidated Results** | **GAAP Consolidated Results** | **GAAP Consolidated Results** | **GAAP Consolidated Results** | **GAAP Consolidated Results** |
|  | **Three Months Ended<br>June 30,** | **Three Months Ended<br>June 30,** | **Three Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** |
| *(in millions, except per share amounts)* | **2025** | **2024** | **Change** | **2025** | **2024** | **Change** |
| Revenues before reimbursements | $323.0 | $314.2 | 3% | $635.0 | $615.9 | 3% |
| Net income attributable to shareholders | 7.8 | 8.6 | (9)% | 14.5 | 11.4 | 27% |
| Diluted earnings per share CRD-A | 0.16 | 0.17 | (6)% | 0.29 | 0.23 | 26% |
| Diluted earnings per share CRD-B | 0.16 | 0.17 | (6)% | 0.29 | 0.23 | 26% |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Non-GAAP Consolidated Results** | **Non-GAAP Consolidated Results** | **Non-GAAP Consolidated Results** | **Non-GAAP Consolidated Results** | **Non-GAAP Consolidated Results** | **Non-GAAP Consolidated Results** | **Non-GAAP Consolidated Results** |
|  | **Three Months Ended<br>June 30,** | **Three Months Ended<br>June 30,** | **Three Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** |
| *(in millions, except per share amounts)* | **2025** | **2024** | **Change** | **2025** | **2024** | **Change** |
| Revenues before reimbursements <br>on constant dollar basis | $323.5 | $314.2 | 3% | $640.0 | $615.9 | 4% |
| Consolidated adjusted operating earnings | 22.0 | 22.1 | (0)% | 39.8 | 34.1 | 17% |
| Consolidated adjusted EBITDA | 31.4 | 30.6 | 3% | 58.3 | 51.2 | 14% |
| Non-GAAP net income attributable to shareholders | 11.2 | 12.4 | (10)% | 21.5 | 18.9 | 14% |
| Non-GAAP diluted earnings per share CRD-A | 0.22 | 0.25 | (12)% | 0.43 | 0.38 | 13% |
| Non-GAAP diluted earnings per share CRD-B | 0.22 | 0.25 | (12)% | 0.43 | 0.38 | 13% |

---

Mr. Rohit Verma, president and chief executive officer of Crawford & Company, commented, "Overall, we are pleased with our progress to date in 2025. Our second quarter performance was highlighted by consolidated revenue growth driven by increased revenue at three of our four operating segments. We continue to contend with lower claims frequency in U.S. property, which put some revenue pressure on the North America Loss Adjusting and Platform Solutions businesses. Consolidated operating margin of 6.8% was down slightly year over year but improved sequentially from the first quarter. We increased our quarterly dividend to $0.075 reflecting progress and confidence in our margin trajectory."

------

Mr. Verma continued, "As we enter the second half of 2025, we stand ready to serve our clients during the time of the year that is often characterized by severe weather activity in the U.S. Our balance sheet and liquidity remain strong, providing a solid foundation to invest in our business, deliver superior service, and build momentum as we win more new business across the globe."

**<u>Segment Results for the Second Quarter</u>**

***North America Loss Adjusting***

North America Loss Adjusting revenues before reimbursements were $78.1 million in the second quarter of 2025, up 2.7% from $76.0 million in the second quarter of 2024, driven by growth in U.S. Global Technical Services. Absent foreign exchange rate decreases of $0.2 million, revenues would have been $78.3 million for the 2025 second quarter.

The segment had operating earnings of $4.6 million in the 2025 second quarter, decreasing from $4.9 million in the second quarter of 2024. The operating margin decreased to 5.9% in the 2025 quarter, compared with 6.4% in the 2024 quarter, driven by decreased revenue in U.S. Field Operations and an increase in administrative costs, partially offset by revenue growth and improved efficiencies in U.S Global Technical Services compared to the prior year quarter.

North America Loss Adjusting revenues before reimbursements were $157.8 million in the six months ended June 30, 2025, increasing 2.9% from $153.4 million in the 2024 period. Absent foreign exchange rate decreases of $1.7 million, revenues would have been $159.5 million for the 2025 second quarter.

The segment had operating earnings of $10.1 million in the six months ended June 30, 2025, increasing from $9.4 million in the 2024 period. The operating margin was 6.4% for the six months ended June 30, 2025 and 6.1% in the 2024 period. The increase in operating earnings was primarily due to revenue growth and improved efficiencies in U.S Global Technical Services.

***International Operations***

International Operations revenues before reimbursements were $109.1 million in the second quarter of 2025, up 6.6% from $102.3 million in the same period of 2024 driven by growth in the U.K., Europe, and Asia. Absent foreign exchange rate decreases of $0.2 million, revenues would have been $109.3 million for the 2025 second quarter.

Operating earnings were $7.6 million in the 2025 second quarter, increasing from $5.7 million in the 2024 period. The segment's operating margin for the 2025 quarter increased to 7.0% compared with 5.6% in the 2024 quarter driven by the U.K. and Asia.

International Operations revenues before reimbursements were $213.5 million in the 2025 year-to-date period, up 6.5% from $200.4 million in the 2024 period. Absent foreign exchange rate decreases of $3.2 million, revenues would have been $216.7 million for the six months ended June 30, 2025.

Operating earnings were $11.1 million in the six months ended June 30, 2025, improving from $7.4 million in the 2024 period. The segment's operating margin for year-to-date 2025 increased to 5.2% compared with 3.7% in the 2024 period driven by revenue growth in the U.K. and Asia.

***Broadspire***

Broadspire segment revenues before reimbursements were a new quarterly record of $100.6 million in the 2025 second quarter, increasing 3.6% from $97.1 million in the 2024 second quarter driven by increases in medical case management and casualty claims revenues.

Broadspire recorded operating earnings of $13.7 million in the second quarter of 2025, representing an operating margin of 13.6%, compared to $15.1 million, or 15.5% of revenues, in the 2024 second quarter. An increase in administrative costs in the quarter impacted the operating margin.

Broadspire segment revenues before reimbursements were $197.0 million in the 2025 year-to-date period, increasing 2.9% from $191.4 million in the 2024 period.

Broadspire operating earnings were $25.9 million in the six months ended June 30, 2025, representing an operating margin of 13.1%, decreasing from $27.9 million, or 14.6% of revenues in the 2024 period driven by an increase in administrative costs.

------

***Platform Solutions***

Platform Solutions revenues before reimbursements were $35.2 million in the second quarter of 2025, down (9.2)% from $38.8 million in the same period of 2024.

Operating earnings were $3.1 million in the 2025 second quarter, increasing from $1.5 million in the 2024 period. The segment's operating margin for the 2025 quarter was 8.9% as compared with 3.8% in the 2024 quarter. Operating earnings benefited from a reduction in low value inspection services previously handled within our Networks service line and a decrease in administrative costs.

Platform Solutions revenues before reimbursements were $66.8 million in the six months ended June 30, 2025, down (5.6)% from $70.7 million in the 2024 period.

Operating earnings were $6.1 million in the 2025 year-to-date period, increasing from $2.6 million in the 2024 period. The segment's operating margin for the six months ended June 30, 2025 was 9.1% as compared with 3.7% in the six months ended June 30, 2024 due to the reduction in low value inspection services previously handled within our Networks service line and a decrease in administrative costs.

***Unallocated Corporate and Shared Costs and Credits, Net***

Unallocated corporate costs were $7.0 million in the second quarter of 2025, compared with $5.1 million in the same period of 2024. The increase in the 2025 second quarter was primarily due to a one-time $3.1 million indirect tax expense and an increase self-insurance reserves, partially offset by a decrease in professional fees.

Unallocated corporate costs were $13.2 million in the six months ended June 30, 2025, compared with $13.1 million in the 2024 period. The increase in 2025 was primarily due to the one-time indirect tax expense, offset by a decrease in professional fees.

***Selling, General, and Administrative Expenses***

Selling, general, and administrative expenses ("SG&A") increased $6.1 million, or 8.4%, in the three months ended June 30, 2025 as compared with the 2024 period. The increase was primarily due to the one-time $3.1 million indirect tax expense and increases in IT costs and severance expenses.

SG&A increased $3.3 million, or 2.2%, in the 2025 year-to-date period as compared with the 2024 period. The increase was primarily due to the one-time indirect tax expense.

***Other Matters***

The Company recognized a pretax contingent earnout expense of $0.1 million in the 2025 second quarter, compared to an expense of $0.4 million in the same period of 2024, related to the fair value adjustment of earnout liabilities arising from acquisitions. These adjustments, which are not a component of operating earnings, are based on changes to projections of acquired entities over the respective earnout periods.

The Company recognized non-service pension costs of $2.4 million in both the 2025 and 2024 second quarter. Non-service pension costs represent the U.S. and U.K. non-service defined benefit pension costs, which are non-operating in nature as the U.S. plan is frozen and the U.K. plans are closed to new participants.

The Company's consolidated cash and cash equivalents position as of June 30, 2025, totaled $58.5 million, compared with $55.4 million at December 31, 2024. The Company's total debt outstanding as of June 30, 2025, totaled $225.4 million, compared with $218.1 million at December 31, 2024.

The Company's operations provided $21.1 million of cash during the first half of 2025, compared with $8.3 million used in 2024. The increase in cash provided was due primarily to $5.7 million higher operating earnings, net change in incentive compensation of $5.8 million, net change in billed and unbilled receivables of $12.7 million, and other working capital improvements as compared to the prior year.

The Company made no contributions to its U.S. defined benefit pension plan and $1.6 million in contributions to its U.K. plans for the first six months of 2025, compared with no contributions to the U.S. plan and $1.2 million to the U.K. plans in 2024.

------

During the six months of 2025, the Company did not repurchase any shares of CRD-A or CRD-B. In the first half of 2024, the Company did not repurchase any shares of CRD-A but repurchased 230,861 shares of CRD-B at an average per share cost of $8.91.

**<u>Conference Call</u>**

As previously announced, Crawford & Company will host a conference call on August 5, 2025, at 8:30 a.m. Eastern Time to discuss its second quarter 2025 results. The conference call can be accessed live by dialing 1-800-549-8228 and using Conference ID 35518. A presentation for tomorrow's call can also be found on the investor relations portion of the Company's website, https://ir.crawco.com. The call will be recorded and available for replay through August 12, 2025. You may dial 1-888-660-6264 and use passcode 35518# to listen to the replay.

**<u>Non-GAAP Presentation</u>**

In the normal course of business, our operating segments incur certain out-of-pocket expenses that are thereafter reimbursed by our clients. Under U.S. generally accepted accounting principles ("GAAP"), these out-of-pocket expenses and associated reimbursements are required to be included when reporting expenses and revenues, respectively, in our consolidated results of operations. In the foregoing discussion and analysis of segment results of operations, we do not include a gross up of segment expenses and revenues for these pass-through reimbursed expenses. The amounts of reimbursed expenses and related revenues offset each other in our results of operations with no impact to our net income or operating earnings. A reconciliation of revenues before reimbursements to consolidated revenues determined in accordance with GAAP is self-evident from the face of the accompanying unaudited condensed consolidated statements of operations.

Operating earnings is the primary financial performance measure used by our senior management and chief operating decision maker ("CODM") to evaluate the financial performance of our Company and operating segments, and make resource allocation and certain compensation decisions. Unlike net income, segment operating earnings is not a standard performance measure found in GAAP. We believe this measure is useful to others in that it allows them to evaluate segment and consolidated operating performance using the same criteria used by our senior management and CODM. Consolidated operating earnings represent segment earnings including certain unallocated corporate and shared costs, but before net corporate interest expense, stock option expense, amortization of acquisition-related intangible assets, contingent earnout adjustments, non-service pension costs, income taxes and net income or loss attributable to noncontrolling interests.

Adjusted EBITDA is not a term defined by GAAP and as a result our measure of adjusted EBITDA might not be comparable to similarly titled measures used by other companies. However, adjusted EBITDA is used by management to evaluate, assess and benchmark our operational results. The Company believes that adjusted EBITDA is relevant and useful information widely used by analysts, investors and other interested parties. Adjusted EBITDA is defined as net income attributable to shareholders of the Company with adjustments for depreciation and amortization, net corporate interest expense, contingent earnout adjustments, non-service pension costs, income taxes and stock-based compensation expense.

Unallocated corporate and shared costs and credits include expenses and credits related to our chief executive officer and Board of Directors, certain provisions for bad debt allowances or subsequent recoveries such as those related to bankrupt clients, certain unallocated professional fees and certain self-insurance costs and recoveries that are not allocated to our individual operating segments.

Income taxes, net corporate interest expense, stock option expense, amortization of acquisition-related intangible assets, contingent earnout adjustments, and non-service pension costs are recurring components of our net income, but they are not considered part of our segment operating earnings because they are managed on a corporate-wide basis. Income taxes are calculated for the Company on a consolidated basis based on statutory rates in effect in the various jurisdictions in which we provide services and vary significantly by jurisdiction. Net corporate interest expense results from capital structure decisions made by senior management and the Board of Directors, affecting the Company as a whole. Stock option expense represents the non-cash costs generally related to stock options and employee stock purchase plan expenses which are not allocated to our operating segments. Amortization expense is a non-cash expense for finite-lived customer-relationship and trade name intangible assets acquired in business combinations. Contingent earnout adjustments relate to changes in the fair value of earnouts associated with our recent acquisitions. Non-service pension costs represent the U.S. and U.K. non-service defined benefit pension costs, which are non-operating in nature as the U.S. plan was frozen in 2002 and the U.K. plans are closed to new participants. None of these costs relate directly to the performance of our services or operating activities and, therefore, are excluded from segment operating earnings to better assess the results of each segment's operating activities on a consistent basis.

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A significant portion of our operations are international. These international operations subject us to foreign exchange fluctuations. The following table illustrates revenue as a percentage of total revenue for the major currencies of the geographic areas that Crawford does business:

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | Six Months Ended | Six Months Ended |
| *(<u>in thousands</u>)* |  | June 30,<br>2025 | June 30,<br>2025 | June 30,<br>2024 | June 30,<br>2024 | June 30,<br>2025 | June 30,<br>2025 | June 30,<br>2024 | June 30,<br>2024 |
| Geographic Area | Currency | USD equivalent | % of total | USD equivalent | % of total | USD equivalent | % of total | USD equivalent | % of total |
| U.S. | USD | $190658 | 59.0% | $189743 | 60.4% | $376520 | 59.3% | $369464 | 60.0% |
| U.K. | GBP | 44322 | 13.7% | 41420 | 13.2% | 88664 | 14.0% | 81675 | 13.3% |
| Canada | CAD | 23269 | 7.2% | 22201 | 7.1% | 45045 | 7.1% | 46042 | 7.5% |
| Australia | AUD | 21607 | 6.7% | 22316 | 7.1% | 40655 | 6.4% | 41977 | 6.8% |
| Europe | EUR | 16750 | 5.2% | 15661 | 5.0% | 32674 | 5.1% | 30546 | 5.0% |
| Rest of World | Various | 26391 | 8.2% | 22886 | 7.2% | 51471 | 8.1% | 46177 | 7.4% |
| Total Revenues, before reimbursements | Total Revenues, before reimbursements | $322997 | 100.0% | $314227 | 100.0% | $635029 | 100.0% | $615881 | 100.0% |

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The following is a reconciliation of consolidated operating earnings to net income attributable to shareholders of Crawford & Company on a GAAP basis:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended |
| *(<u>in thousands</u>)* | June 30, 2025 | June 30, 2024 | June 30, 2025 | June 30, 2024 |
| Operating earnings: |  |  |  |  |
| North America Loss Adjusting | $4595 | $4885 | $10071 | $9364 |
| International Operations | 7636 | 5702 | 11092 | 7392 |
| Broadspire | 13652 | 15091 | 25855 | 27895 |
| Platform Solutions | 3132 | 1469 | 6059 | 2584 |
| Unallocated corporate and shared costs, net | (7019) | (5079) | (13237) | (13086) |
| Consolidated operating earnings | 21996 | 22068 | 39840 | 34149 |
| (Deduct) add: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net corporate interest expense | (3858) | (4256) | (7802) | (7852) |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock option expense | (214) | (139) | (398) | (306) |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangible assets | (1825) | (1856) | (3625) | (3724) |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-service pension costs | (2354) | (2399) | (4687) | (4872) |
| &nbsp;&nbsp;&nbsp;&nbsp;Contingent earnout adjustments | (80) | (430) | (443) | (581) |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax provision | (5845) | (4486) | (8325) | (5533) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net (income) loss attributable to noncontrolling interests | (38) | 82 | (94) | 140 |
| Net income attributable to shareholders of Crawford & Company | $7782 | $8584 | $14466 | $11421 |

---

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The following is a reconciliation of net income attributable to shareholders of Crawford & Company on a GAAP basis to non-GAAP adjusted EBITDA:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended |
| (<u>in thousands</u>) | June 30,<br>2025 | June 30,<br>2024 | June 30,<br>2025 | June 30,<br>2024 |
| Net income attributable to shareholders of Crawford & Company | $7782 | $8584 | $14466 | $11421 |
| Add (Deduct): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 9814 | 8845 | 19461 | 18144 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 1695 | 1613 | 3085 | 2831 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net corporate interest expense | 3858 | 4256 | 7802 | 7852 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-service pension costs | 2354 | 2399 | 4687 | 4872 |
| &nbsp;&nbsp;&nbsp;&nbsp;Contingent earnout adjustments | 80 | 430 | 443 | 581 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax provision | 5845 | 4486 | 8325 | 5533 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-GAAP adjusted EBITDA | $31428 | $30613 | $58269 | $51234 |

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The following is a reconciliation of operating cash flow to free cash flow for the six months ended June 30, 2025 and 2024:

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| | | | |
|:---|:---|:---|:---|
| Six Months Ended | Six Months Ended | Six Months Ended | Six Months Ended |
| *(in thousands)* | June 30, 2025 | June 30, 2024 | Change |
| Net Cash Provided by (Used in) Operating Activities | $21083 | $(8253) | $29336 |
| Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Property & Equipment Purchases, net | (2401) | (1418) | (983) |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized Software (internal and external costs) | (16087) | (17031) | 944 |
| Free Cash Flow | $2595 | $(26702) | $29297 |

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Non-GAAP consolidated results for 2025 and 2024 exclude the non-cash, after-tax adjustments for amortization of intangible assets, non-service-related pension costs, and contingent earnout adjustment.

The following are the reconciliations of GAAP Pretax Earnings, Net Income and Earnings Per Share to related non-GAAP Adjusted figures, which reflect each of 2025 and 2024 before amortization of intangible assets, non-service related pension costs and contingent earnout adjustments:

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| | | | | |
|:---|:---|:---|:---|:---|
| Three Months Ended June 30, 2025 | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2025 |
| *(<u>in thousands</u>)* | Pretax earnings | Net income <br>attributable to Crawford & Company | Diluted earnings per <br>CRD-A <br>share<sup>(1)</sup> | Diluted earnings per <br>CRD-B <br>share<sup>(1)</sup> |
| GAAP | $13665 | $7782 | $0.16 | $0.16 |
| Adjustments: |  |  |  |  |
| Amortization of intangible assets | 1825 | 1511 | 0.03 | 0.03 |
| Non-service related pension costs | 2354 | 1823 | 0.04 | 0.04 |
| Contingent earnout adjustments | 80 | 80 |  |  |
| Non-GAAP Adjusted | $17924 | $11196 | $0.22 | $0.22 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Three Months Ended June 30, 2024 | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2024 |
| *(<u>in thousands</u>)* | Pretax earnings | Net income <br>attributable to Crawford & Company | Diluted earnings per <br>CRD-A <br>share | Diluted earnings per <br>CRD-B <br>share |
| GAAP | $12988 | $8584 | $0.17 | $0.17 |
| Adjustments: |  |  |  |  |
| Amortization of intangible assets | 1856 | 1565 | 0.03 | 0.03 |
| Non-service related pension costs | 2399 | 1876 | 0.04 | 0.04 |
| Contingent earnout adjustments | 430 | 423 | 0.01 | 0.01 |
| Non-GAAP Adjusted | $17673 | $12448 | $0.25 | $0.25 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Six Months Ended June 30, 2025 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2025 |
| *(<u>in thousands</u>)* | Pretax earnings | Net income <br>attributable to Crawford & Company | Diluted earnings per <br>CRD-A<br>share | Diluted earnings per <br>CRD-B <br>share |
| GAAP | $22885 | $14466 | $0.29 | $0.29 |
| Adjustments: |  |  |  |  |
| Amortization of intangible assets | 3625 | 3000 | 0.06 | 0.06 |
| Non-service related pension costs | 4687 | 3626 | 0.07 | 0.07 |
| Contingent earnout adjustments | 443 | 443 | 0.01 | 0.01 |
| Non-GAAP Adjusted | $31640 | $21535 | $0.43 | $0.43 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Six Months Ended June 30, 2024 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2024 |
| *(<u>in thousands</u>)* | Pretax earnings | Net income <br>attributable to Crawford & Company | Diluted <br>earnings per <br>CRD-A <br>share | Diluted <br>earnings per <br>CRD-B <br>share |
| GAAP | $16814 | $11421 | $0.23 | $0.23 |
| Adjustments: |  |  |  |  |
| Amortization of intangible assets | 3724 | 3139 | 0.06 | 0.06 |
| Non-service related pension costs | 4872 | 3805 | 0.08 | 0.08 |
| Contingent earnout adjustments | 581 | 574 | 0.01 | 0.01 |
| Non-GAAP Adjusted | $25991 | $18939 | $0.38 | $0.38 |

---

<sup>(1)</sup> Sum of reconciling items may differ from total due to rounding of individual components.

The following is information regarding the weighted average shares used in the computation of basic and diluted earnings per share:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended |
| *(<u>in thousands</u>)* | June 30, 2025 | June 30, 2024 | June 30, 2025 | June 30, 2024 |
| Weighted-Average Shares Used to Compute Basic Earnings Per Share: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Class A Common Stock | 30304 | 29728 | 30240 | 29657 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class B Common Stock | 19145 | 19374 | 19145 | 19458 |
| Weighted-Average Shares Used to Compute Diluted Earnings Per Share: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Class A Common Stock | 30782 | 30171 | 30744 | 30225 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class B Common Stock | 19145 | 19374 | 19145 | 19458 |

---

Further information regarding the Company's operating results for the three and six months ended June 30, 2025, financial position as of June 30, 2025, and cash flows for the six months ended June 30, 2025 is shown on the attached unaudited condensed consolidated financial statements.

**<u>About Crawford & Company</u>**

Based in Atlanta, Crawford & Company (NYSE: CRD-A and CRD-B) is a leading provider of claims management and outsourcing solutions to insurance companies and self-insured entities with an expansive network serving clients in more than 70 countries. The Company's two classes of stock are substantially identical, except with respect to voting rights for the Class B Common Stock (CRD-B) and protections for the non-voting Class A Common Stock (CRD-A). More information is available at www.crawco.com.

TAG: Crawford-Financial, Crawford-Investor-News-and-Events

------

FOR FURTHER INFORMATION REGARDING THIS PRESS RELEASE, PLEASE CALL BRUCE SWAIN AT (404) 300-1051.

This press release contains forward-looking statements, including statements about the expected future financial condition, results of operations and earnings outlook of Crawford & Company. Statements, both qualitative and quantitative, that are not historical facts may be "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from historical experience or Crawford & Company's present expectations. Accordingly, no one should place undue reliance on forward-looking statements, which speak only as of the date on which they are made. Crawford & Company does not undertake to update forward-looking statements to reflect the impact of circumstances or events that may arise or not arise after the date the forward-looking statements are made. For further information regarding Crawford & Company, including factors that could cause our actual financial condition, results or earnings to differ from those described in any forward-looking statements, please read Crawford & Company's reports filed with the SEC and available at www.sec.gov and in the Investor Relations section of Crawford & Company's website at www.crawco.com.<br>

------

**CRAWFORD & COMPANY**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

Unaudited

*(In Thousands, Except Per Share Amounts and Percentages)*

---

| | | | |
|:---|:---|:---|:---|
| **Three Months Ended June 30,** | **2025** | 2024 | % Change |
| Revenues: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Revenues Before Reimbursements | $**322997** | $314227 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Reimbursements | **11598** | 12626 | (8)% |
| Total Revenues | **334595** | 326853 | 2% |
| Costs and Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Costs of Services Provided, Before Reimbursements | **224724** | 222265 | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reimbursements | **11598** | 12626 | (8)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Costs of Services | **236322** | 234891 | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, General, and Administrative Expenses | **78337** | 72270 | 8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Interest Expense, Net | **3858** | 4256 | (9)% |
| Total Costs and Expenses | **318517** | 311417 | 2% |
| Other Loss, Net | **(2413)** | (2448) | (1)% |
| Income Before Income Taxes | **13665** | 12988 | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for Income Taxes | **5845** | 4486 | 30% |
| Net Income | **7820** | 8502 | (8)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net (Income) Loss Attributable to Noncontrolling Interests | **(38)** | 82 | (146)% |
| Net Income Attributable to Shareholders of Crawford & Company | $**7782** | $8584 | (9)% |
| Earnings Per Share - Basic: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Class A Common Stock | $**0.16** | $0.17 | (6)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Class B Common Stock | $**0.16** | $0.17 | (6)% |
| Earnings Per Share - Diluted: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Class A Common Stock | $**0.16** | $0.17 | (6)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Class B Common Stock | $**0.16** | $0.17 | (6)% |
| Cash Dividends Per Share: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Class A Common Stock | $**0.07** | $0.07 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Class B Common Stock | $**0.07** | $0.07 |  |

---

------

**CRAWFORD & COMPANY**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

Unaudited

*(In Thousands, Except Per Share Amounts and Percentages)*

---

| | | | |
|:---|:---|:---|:---|
| **Six Months Ended June 30,** | **2025** | 2024 | % Change |
| Revenues: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Revenues Before Reimbursements | $**635029** | $615881 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Reimbursements | **22905** | 24045 | (5)% |
| Total Revenues | **657934** | 639926 | 3% |
| Costs and Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Costs of Services Provided, Before Reimbursements | **446617** | 436654 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reimbursements | **22905** | 24045 | (5)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Costs of Services | **469522** | 460699 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, General, and Administrative Expenses | **152924** | 149590 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Interest Expense, Net | **7802** | 7852 | (1)% |
| Total Costs and Expenses | **630248** | 618141 | 2% |
| Other Loss, Net | **(4801)** | (4971) | (3)% |
| Income Before Income Taxes | **22885** | 16814 | 36% |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for Income Taxes | **8325** | 5533 | 50% |
| Net Income | **14560** | 11281 | 29% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net (Income) Loss Attributable to Noncontrolling Interests | **(94)** | 140 | (167)% |
| Net Income Attributable to Shareholders of Crawford & Company | $**14466** | $11421 | 27% |
| Earnings Per Share - Basic: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Class A Common Stock | $**0.29** | $0.23 | 26% |
| &nbsp;&nbsp;&nbsp;&nbsp;Class B Common Stock | $**0.29** | $0.23 | 26% |
| Earnings Per Share - Diluted: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Class A Common Stock | $**0.29** | $0.23 | 26% |
| &nbsp;&nbsp;&nbsp;&nbsp;Class B Common Stock | $**0.29** | $0.23 | 26% |
| Cash Dividends Per Share: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Class A Common Stock | $**0.14** | $0.14 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Class B Common Stock | $**0.14** | $0.14 |  |

---

------

**CRAWFORD & COMPANY**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**As of June 30, 2025 and December 31, 2024**

---

| | | |
|:---|:---|:---|
|  | **June 30,** | **December 31,** |
|  | **2025** | **2024** |
| *(In thousands, except par value amounts)* | **(Unaudited)** | \* |
| **ASSETS** |  |  |
| Current Assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and Cash Equivalents | $**58529** | $55412 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts Receivable, Net | **136063** | 142064 |
| &nbsp;&nbsp;&nbsp;&nbsp;Unbilled Revenues, at Estimated Billable Amounts | **145345** | 131080 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income Taxes Receivable | **4803** | 5337 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid Expenses and Other Current Assets | **31433** | 40334 |
| Total Current Assets | **376173** | 374227 |
| Net Property and Equipment | **17999** | 20554 |
| Other Assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating Lease Right-of-Use Asset, Net | **71706** | 78808 |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | **76587** | 76368 |
| &nbsp;&nbsp;&nbsp;&nbsp;Intangible Assets Arising from Business Acquisitions, Net | **71630** | 74545 |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized Software Costs, Net | **116478** | 111854 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred Income Tax Assets | **24239** | 25305 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Noncurrent Assets | **44553** | 42094 |
| Total Other Assets | **405193** | 408974 |
| Total Assets | $**799365** | $803755 |
| **LIABILITIES AND SHAREHOLDERS' INVESTMENT** |  |  |
| Current Liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Borrowings | $**22791** | $17822 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts Payable | **45968** | 50605 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued Compensation and Related Costs | **86180** | 101371 |
| &nbsp;&nbsp;&nbsp;&nbsp;Self-Insured Risks | **20239** | 27813 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income Taxes Payable | **853** | 3343 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating Lease Liability | **23660** | 24541 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Accrued Liabilities | **44120** | 38103 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred Revenues | **37299** | 36129 |
| Total Current Liabilities | **281110** | 299727 |
| Noncurrent Liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-Term Debt and Finance Leases, Less Current Installments | **202658** | 200315 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating Lease Liability | **60382** | 66811 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred Revenues | **24024** | 23556 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued Pension Liabilities | **20506** | 21084 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Noncurrent Liabilities | **35344** | 36711 |
| Total Noncurrent Liabilities | **342914** | 348477 |
| Shareholders' Investment: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Class A Common Stock, $1.00 Par Value | **30315** | 30124 |
| &nbsp;&nbsp;&nbsp;&nbsp;Class B Common Stock, $1.00 Par Value | **19145** | 19145 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional Paid-in Capital | **90704** | 87118 |
| &nbsp;&nbsp;&nbsp;&nbsp;Retained Earnings | **245497** | 237948 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated Other Comprehensive Loss | **(208772)** | (217125) |
| Shareholders' Investment Attributable to Shareholders of Crawford & Company | **176889** | 157210 |
| Noncontrolling Interests | **(1548)** | (1659) |
| Total Shareholders' Investment | **175341** | 155551 |
| Total Liabilities and Shareholders' Investment | $**799365** | $803755 |

---

<sup>(\*)</sup> Derived from the audited Consolidated Balance Sheet

------

**CRAWFORD & COMPANY**

**SUMMARY RESULTS BY OPERATING SEGMENT WITH DIRECT COMPENSATION AND OTHER EXPENSES**

Unaudited

*(In Thousands, Except Percentages)*

**Three Months Ended June 30,**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | North America Loss Adjusting | North America Loss Adjusting | | International Operations | International Operations | | Broadspire | Broadspire | | Platform Solutions | Platform Solutions | |
|  | **2025** | 2024 | %<br>Change | **2025** | 2024 | %<br>Change | **2025** | 2024 | %<br>Change | **2025** | 2024 | %<br>Change |
| Revenues Before Reimbursements | $**78074** | $76030 | 2.7% | $**109070** | $102283 | 6.6% | $**100617** | $97087 | 3.6% | $**35236** | $38827 | (9.2)% |
| Direct Compensation, Fringe Benefits & Non-Employee Labor | **54835** | 54708 | 0.2% | **72311** | 66047 | 9.5% | **60360** | 58162 | 3.8% | **19114** | 23404 | (18.3)% |
| *% of Revenues Before Reimbursements* | ***70.2***<br>*%*** | *72.0%* |  | ***66.3***<br>*%*** | *64.6%* |  | ***60.0***<br>*%*** | *59.9%* |  | ***54.2***<br>*%*** | *60.3%* |  |
| Expenses Other than Reimbursements, Direct Compensation, Fringe Benefits & Non-Employee Labor | **18644** | 16437 | 13.4% | **29123** | 30534 | (4.6)% | **26605** | 23834 | 11.6% | **12990** | 13954 | (6.9)% |
| *% of Revenues Before Reimbursements* | ***23.9***<br>*%*** | *21.6%* |  | ***26.7***<br>*%*** | *29.9%* |  | ***26.4***<br>*%*** | *24.5%* |  | ***36.9***<br>*%*** | *35.9%* |  |
| Total Operating Expenses | **73479** | 71145 | 3.3% | **101434** | 96581 | 5.0% | **86965** | 81996 | 6.1% | **32104** | 37358 | (14.1)% |
| Operating Earnings <sup>(1)</sup> | $**4595** | $4885 | (5.9)% | $**7636** | $5702 | 33.9% | $**13652** | $15091 | (9.5)% | $**3132** | $1469 | 113.2% |
| *% of Revenues Before Reimbursements* | ***5.9***<br>*%*** | *6.4%* |  | ***7.0***<br>*%*** | *5.6%* |  | ***13.6***<br>*%*** | *15.5%* |  | ***8.9***<br>*%*** | *3.8%* |  |

---

**Six Months Ended June 30,**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | North America Loss Adjusting | North America Loss Adjusting | | International Operations | International Operations | | Broadspire | Broadspire | | Platforms Solutions | Platforms Solutions | |
|  | **2025** | 2024 | %<br>Change | **2025** | 2024 | %<br>Change | **2025** | 2024 | %<br>Change | **2025** | 2024 | %<br>Change |
| Revenues Before Reimbursements | $**157814** | $153395 | 2.9% | $**213464** | $200375 | 6.5% | $**197001** | $191385 | 2.9% | $**66750** | $70726 | (5.6)% |
|  |  |  |  |  |  |  |  |  |  |  | \ |  |
| Direct Compensation, Fringe Benefits & Non-Employee Labor | **110853** | 110175 | 0.6% | **142888** | 131026 | 9.1% | **118711** | 115419 | 2.9% | **37159** | 42334 | (12.2)% |
| *% of Revenues Before Reimbursements* | ***70.2***<br>*%*** | *71.8%* |  | ***66.9***<br>*%*** | *65.4%* |  | ***60.3***<br>*%*** | *60.3%* |  | ***55.7***<br>*%*** | *59.9%* |  |
| Expenses Other than Reimbursements, Direct Compensation, Fringe Benefits & Non-Employee Labor | **36890** | 33856 | 9.0% | **59484** | 61957 | (4.0)% | **52435** | 48071 | 9.1% | **23532** | 25808 | (8.8)% |
| *% of Revenues Before Reimbursements* | ***23.4***<br>*%*** | *22.1%* |  | ***27.9***<br>*%*** | *30.9%* |  | ***26.6***<br>*%*** | *25.1%* |  | ***35.3***<br>*%*** | *36.5%* |  |
| Total Operating Expenses | **147743** | 144031 | 2.6% | **202372** | 192983 | 4.9% | **171146** | 163490 | 4.7% | **60691** | 68142 | (10.9)% |
| Operating Earnings<sup>(1)</sup> | $**10071** | $9364 | 7.6% | $**11092** | $7392 | 50.1% | $**25855** | $27895 | (7.3)% | $**6059** | $2584 | 134.5% |
| *% of Revenues Before Reimbursements* | ***6.4***<br>*%*** | *6.1%* |  | ***5.2***<br>*%*** | *3.7%* |  | ***13.1***<br>*%*** | *14.6%* |  | ***9.1***<br>*%*** | *3.7%* |  |

---

<sup>(1)</sup> A non-GAAP financial measurement which represents net income attributable to the applicable reporting segment excluding income taxes, net corporate interest expense, stock option expense, amortization of acquisition-related intangible assets, non-service pension costs, contingent earnout adjustments, and certain unallocated corporate and shared costs and credits. See pages 3 and 4 for additional information about segment operating earnings.

------

**CRAWFORD & COMPANY**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**Year-to-Date Period Ended June 30, 2025 and June 30, 2024**

Unaudited

*(In Thousands)*

---

| | | |
|:---|:---|:---|
|  | **2025** | 2024 |
| **Cash Flows From Operating Activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net Income | $**14560** | $11281 |
| &nbsp;&nbsp;&nbsp;&nbsp;Reconciliation of net income to net cash provided by (used in) operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | **19461** | 18145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | **3085** | 2831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss (gain) on disposal of property and equipment | **1030** | (80) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contingent earnout adjustments | **443** | 581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | **8111** | (2537) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unbilled revenues, net | **(12127)** | (14234) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued or prepaid income taxes | **(2922)** | (6652) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued liabilities | **(16136)** | (22336) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenues | **1295** | (798) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued retirement costs | **25** | 1581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other operating activities | **4258** | 3965 |
| Net cash provided by (used in) operating activities | **21083** | (8253) |
| **Cash Flows From Investing Activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisitions of property and equipment | **(2401)** | (1418) |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalization of computer software costs | **(16087)** | (17031) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from settlement of life insurance policies | **210** |  |
| Net cash used in investing activities | **(18278)** | (18449) |
| **Cash Flows From Financing Activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash dividends paid | **(6917)** | (6880) |
| &nbsp;&nbsp;&nbsp;&nbsp;Repurchases of common stock | **—** | (2073) |
| &nbsp;&nbsp;&nbsp;&nbsp;Increases in short-term and revolving credit facility borrowings | **49193** | 48592 |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments on short-term and revolving credit facility borrowings | **(42582)** | (23769) |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments of contingent consideration on acquisitions | **(1326)** | (579) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other financing activities | **554** | 364 |
| Net cash (used in) provided by financing activities | **(1078)** | 15655 |
| Effects of exchange rate changes on cash and cash equivalents | **863** | (155) |
| Increase (Decrease) in cash, cash equivalents, and restricted cash<sup>(1)</sup> | **2590** | (11202) |
| Cash, cash equivalents, and restricted cash at beginning of year<sup>(1)</sup> | **56329** | 59545 |
| Cash, cash equivalents, and restricted cash at end of period<sup>(1)</sup> | $**58919** | $48343 |
| Supplemental cash flow information: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes paid | $**11340** | $11944 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest paid | **9089** | 8890 |

---

<sup>(1)</sup> The 2025 amounts include beginning restricted cash of $917 at December 31, 2024, and ending restricted cash of $390 at June 30, 2025, and the 2024 amounts include beginning restricted cash of $1,182 at December 31, 2023, and ending restricted cash of $1,601 at June 30, 2024, which we present as part of "Prepaid expenses and other current assets" on the Balance Sheets.

------

## Exhibit 99.2

![Slide 1](crda-ex99_2s1.jpg)

Second Quarter 2025 Financial Results CRD-A & CRD-B (NYSE)® Crawford & Company

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![Slide 2](crda-ex99_2s2.jpg)

Forward-Looking Statements & Additional Information Q2 2025 FINANCIAL RESULTS Forward-Looking Statements This presentation contains forward-looking statements, including statements about the expected future financial condition, results of operations and earnings outlook of Crawford & Company. Statements, both qualitative and quantitative, that are not statements of historical fact may be "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 and other securities laws. Forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from historical experience or Crawford & Company's present expectations. Accordingly, no one should place undue reliance on forward-looking statements, which speak only as of the date on which they are made. Crawford & Company does not undertake to update forward-looking statements to reflect the impact of circumstances or events that may arise or not arise after the date the forward-looking statements are made. Results for any interim period presented herein are not necessarily indicative of results to be expected for the full year or for any other future period. For further information regarding Crawford & Company, and the risks and uncertainties involved in forward-looking statements, please read Crawford & Company's reports filed with the Securities and Exchange Commission and available at www.sec.gov or in the Investor Relations portion of Crawford & Company's website at https://ir.crawco.com. Crawford's business is dependent, to a significant extent, on case volumes. The Company cannot predict the future trend of case volumes for a number of reasons, including the fact that the frequency and severity of weather-related claims and the occurrence of natural and man-made disasters, which are a significant source of cases and revenue for the Company, are generally not subject to accurate forecasting. Revenues Before Reimbursements ("Revenues") Revenues Before Reimbursements are referred to as "Revenues" in both consolidated and segment charts, bullets and tables throughout this presentation. Segment and Consolidated Operating Earnings Under the Financial Accounting Standards Board's Accounting Standards Codification ("ASC") Topic 280, "Segment Reporting," the Company has defined segment operating earnings as the primary measure used by the Company to evaluate the results of each of its four operating segments. Segment operating earnings represent segment earnings, including the direct and indirect costs of certain administrative functions required to operate our business, but excludes unallocated corporate and shared costs and credits, net corporate interest expense, stock option expense, amortization of acquisition-related intangible assets, contingent earnout adjustments, non-service pension costs, income taxes and net income or loss attributable to noncontrolling interests. Earnings Per Share The Company's two classes of stock are substantially identical, except with respect to voting rights for the Class B Common Stock (CRD-B) and protections for the non-voting Class A Common Stock (CRD-A). More information available on the Company's website. The two-class method is an earnings allocation method under which earnings per share ("EPS") is calculated for each class of common stock considering both dividends declared and participation rights in undistributed earnings as if all such earnings had been distributed during the period. As a result, the Company may report different EPS for each class of stock due to the two-class method of computing EPS as required by ASC Topic 260 - "Earnings Per Share". Segment Gross Profit Segment gross profit is defined as revenues, less direct costs, which exclude indirect centralized administrative support costs allocated to the business. Indirect expenses consist of centralized administrative support costs, regional and local shared services that are allocated to each segment based on usage. Non-GAAP Financial Information For additional information about certain non-GAAP financial information presented herein, see the Appendix following this presentation.

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STRATEGIC UPDATE Rohit Verma President & Chief Executive Officer 3 Q2 2025 FINANCIAL RESULTS

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Countries 70 Employees 10,000+ 50,000+ Field Resources $20B+ Claims Managed Annually Global Reach; Trusted Partner Q2 2025 FINANCIAL RESULTS

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Increasing weather volatility continues to drive global demand in weather-related claims Gaining market share within fragmented U.S. market as carriers pursue a flight to quality with well-established partners Industry-leading expertise and technology capabilities enhancing market share Growing and strengthening strategic partnerships across business segments Diversified global business model addresses multiple verticals Multiple Growth Drivers Benefitting Crawford Q2 2025 FINANCIAL RESULTS

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Second Quarter 2025 Highlights Consolidated revenue growth of 2.8% YoY Revenue growth in North America Loss Adjusting, International Operations and Broadspire segments Consolidated operating earnings consistent with 2Q24 NALA operating earnings and margin decreased in the quarter due to lower U.S. property claim activity Broadspire operating earnings and margin decreased due to strategic headcount additions and IT costs International Operations and Platforms achieved significantly increased operating earnings and margin Strong new business momentum particularly in Broadspire and International segments Paid quarterly dividend of $0.07 per share Board has approved dividend increase to $0.075 Strong balance sheet and liquidity Leverage ratio remains low at 1.75x EBITDA YoY Revenue Growth YoY Adjusted Operating Earnings\* $314.2M $22.1M 6 \* See Appendix for non-GAAP explanation and reconciliation Q2 '24 Q2 '25 Q2 '24 Q2 '25 Q2 2025 FINANCIAL RESULTS $323.0 $22.0M

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Q2 '24 Q2 '25 Non-weather-related revenue Weather-related revenue (US CAT, USLA, Australia) Diversified Business Model Supports Growth Through Weather and Market Fluctuations U.S. Severe Storm Reports1,2 1 National Oceanic and Atmospheric Administration (NOAA) Storm Prediction Database, July 15, 2025 2 Preliminary data Q2 2025 FINANCIAL RESULTS Q2 '24 Q2 '25 +1% 12,867 13,021 Consolidated Weather-Related vs. Non-Weather-Related Revenue $314.2M $323.0M +2.8% +5.2% -3.8%

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Our Capital Allocation Strategy Investing in long-term growth through Cap Ex and M&A Strong liquidity Leverage ratio significantly below industry average at 1.75x EBITDA Paid quarterly dividend of $0.07 per share for CRD-A and CRD-B Q2 2025 FINANCIAL RESULTS Committed to Industry-Leading Financial Strength and Employing a Disciplined Approach to Capital Allocation

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OPERATIONAL UPDATE Bruce Swain, Chief Financial Officer Q2 2025 FINANCIAL RESULTS 9

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Comprised of All Service Lines Outside of North America: UK Europe Australia Asia Latin America Legal Services International Operations 34% Third Party Administration for: Workers' Compensation Auto and Liability Claims Medical Management Disability Technology Services Accident and Health Comprised of the Following Service Lines: Contractor Connection Networks Catastrophe Subrogation (Praxis) Comprised of the Following North American Service Lines: USLA US GTS US Field Ops Canada Loss Adjusting Canada TPA Canada Contractor Connection Edjuster Alternative Inspection Solutions North America Loss Adjusting 24% Broadspire (U.S.-only) 31% Platform Solutions (US-only) 11% Second Quarter 2025 Revenue Contribution Q2 2025 FINANCIAL RESULTS

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Revenue increased 2.7% Operating earnings decreased by 6% YoY Growth in GTS was offset by a decline in U.S. Field Operations due to lower property claims activity Operating margin decreased by 54 bps Destination for high caliber and specialized insurance adjusting talent North America Loss Adjusting Second Quarter 2025 Results Revenues $78.1M Operating Earnings $4.6M 11 Q2 2025 FINANCIAL RESULTS

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Revenue growth of 6.6% or 6.9% when measured in constant currency Strong performances in UK, Europe and Asia driven by organic new business growth and weather-related claims Operating earnings increased by 34% Operating margin expanded by 143 bps Segment momentum continues driven by improved pricing, productivity, and new business growth International Operations Second Quarter 2025 Results Revenues $109.1M Operating Earnings $7.6M 12 Q2 2025 FINANCIAL RESULTS

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Broadspire Second Quarter 2025 Results Revenues $100.6M $13.7M Operating Earnings 13 Q2 2025 FINANCIAL RESULTS Record quarterly revenues YoY growth of 3.6% with growth across all service lines driven by new business wins Operating earnings and margin impacted by strategic headcount additions related to new client wins and higher investments in technology Continued new client wins Retention rate of 95.4%

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Platform Solutions Second Quarter 2025 Results Revenues $35.2M Operating Earnings $3.1M 14 Q2 2025 FINANCIAL RESULTS Revenue down by 9.2% YoY Networks revenues decreased by 31.1% YoY primarily due to pullback in claims outsourcing from key client Contractor Connection revenues increased 2.0% YoY Subrogation (Praxis) revenues increased 2.8% YoY Operating earnings growth of 113% YoY driven by higher margin business mix and improved efficiencies in Networks Operating margin expansion of 511 bps reflecting improved operational efficiency

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FINANCIAL UPDATE Bruce Swain, Chief Financial Officer Q2 2025 FINANCIAL RESULTS 15

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Q2 2025 Financial Summary (1) See Appendix for non-GAAP explanation and reconciliation Quarter Ended Unaudited ($ in millions, except per share amounts) June 30, 2025 June 30, 2024 % Change Revenues $323.0 $314.2 3% Non-GAAP Revenues excluding foreign exchange fluctuations(1) $323.5 $314.2 3% Net Income Attributable to Shareholders of Crawford & Company $7.8 $8.6 (9)% Diluted Earnings per Share CRD-A $0.16 $0.17 (6)% CRD-B $0.16 $0.17 (6)% Non-GAAP Diluted Earnings per Share (1) CRD-A $0.22 $0.25 (12)% CRD-B $0.22 $0.25 (12)% Adjusted Operating Earnings (1) $22.0 $22.1 <1% Adjusted Operating Margin (1) 6.8% 7.0% (20) bps Adjusted EBITDA (1) $31.4 $30.6 3% Adjusted EBITDA Margin (1) 9.7% 9.7% 0 bps Q2 2025 FINANCIAL RESULTS

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Balance Sheet Highlights (1) See Appendix for non-GAAP explanation and reconciliation Unaudited ($ in thousands) Jun 30, 2025 December 31, 2019 Dec 31, 2024 December 31, 2018 Change Change Cash and cash equivalents $58,529 $55,412 $3,117 Accounts receivable, net 136,063 142,064 (6,001) Unbilled revenues, net 145,345 131,080 14,265 Total receivables 281,408 273,144 8,264 Goodwill 76,587 76,368 219 Intangible assets arising from business acquisitions, net 71,630 74,545 (2,915) Deferred revenues 61,323 59,685 1,638 Pension liabilities 20,506 21,084 (578) Short-term borrowings and current portion of finance leases 22,791 17,822 4,969 Long-term debt, less current portion 202,658 200,315 2,343 Total debt 225,449 218,137 7,312 Total stockholders' equity attributable to Crawford & Company 176,889 157,210 19,679 Net debt (1) 166,920 162,725 4,195 Q2 2025 FINANCIAL RESULTS

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Net Debt and Pension Liability $166.9M Net debt at $166.9 million $137.3M Leverage Ratio of 1.75x EBITDA at end of Q2 '25 $20.5M Pension liability at $20.5 million $74.3M Funded Ratio of US pension plan is 93.5% at end of Q2 '25 Q2 2025 FINANCIAL RESULTS

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Operating and Free Cash Flow (1) See Appendix for non-GAAP explanation and reconciliation Unaudited ($ in thousands) 2025 2019 2024 2018 Change Change Net Income Attributable to Shareholders of Crawford & Company $14,466 $11,421 $3,045 Depreciation and Other Non-Cash Operating Items 23,670 20,756 2,914 Contingent Earnout Adjustments 443 581 (138) Billed Receivables Change 8,111 (2,537) 10,648 Unbilled Receivables Change (12,127) (14,234) 2,107 Change in Accrued Compensation, 401K, and Other Payroll (17,593) (21,290) 3,697 Other Working Capital Changes 4,113 (2,950) 7,063 Cash Flows from Operating Activities 21,083 (8,253) 29,336 Property & Equipment Purchases, net (2,401) (1,418) (983) Capitalized Software (internal and external costs) (16,087) (17,031) 944 Free Cash Flow(1) $2,595 $(26,702) $29,297 Q2 2025 FINANCIAL RESULTS

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Additional Financial Matters Unallocated Corporate and Shared Costs and Credits Unallocated corporate costs of $7.0 million in Q2 '25 compared to corporate costs of $5.1 million in Q2 '24 Variance was primarily due to a one-time $3.1 million indirect tax expense caused by a change in international tax law and an increase in self-insurance expense partially offset by a decrease in professional fees Non-service Pension Costs Q2 '25 non-service pension costs remained consistent with Q2 '24 at $2.4 million These costs are not a component of operating earnings and are added back for non-GAAP earnings and EPS Contingent Earnout Adjustment Recognized pre-tax contingent earnout cost totaling $0.1 million for Q2 '25 compared to $0.4 million in Q2 '24 These costs are not a component of operating earnings and are added back for non-GAAP earnings and EPS Quarterly Dividend In Q2 '25 Crawford paid a $0.07 dividend per share for CRD-A and CRD-B Share Repurchases No shares were repurchased in Q2 '25 Approximately 1.1 million shares are eligible to be repurchased under our 2021 Share Repurchase Authorization Q2 2025 FINANCIAL RESULTS

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Financial strength and liquidity provide flexibility to pursue market opportunities Capitalizing on the changing landscape due to climate change and demographic shifts Leading the industry with next generation Insurtech capabilities Leveraging strong relationships to enhance market position Summary Q2 2025 FINANCIAL RESULTS

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Appendix: Segment Results and Non-GAAP Financial Information Q2 2025 FINANCIAL RESULTS 22

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North America Loss Adjusting Three months ended Unaudited (in thousands, except percentages) June 30, 2025 June 30, 2024 Variance Revenues $78,074 $76,030 2.7% Direct expenses 63,827 61,473 3.8% Gross profit 14,247 14,557 (2.1)% Indirect expenses 9,652 9,672 (0.2)% Operating earnings $4,595 $4,885 (5.9)% Gross profit margin 18.2% 19.1% (0.9)% Operating margin 5.9% 6.4% (0.5)% Total cases received 84,647 59,544 42.2% Full time equivalent employees 2,054 2,011 2.1% Q2 2025 FINANCIAL RESULTS

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International Operations Three months ended Unaudited (in thousands, except percentages) June 30, 2025 June 30, 2024 Variance Revenues $109,070 $102,283 6.6% Direct expenses 85,907 83,096 3.4% Gross profit 23,163 19,187 20.7% Indirect expenses 15,527 13,485 15.1% Operating earnings $7,636 $5,702 33.9% Gross profit margin 21.2% 18.8% 2.4% Operating margin 7.0% 5.6% 1.4% Total cases received 110,579 121,280 (8.8)% Full time equivalent employees 3,524 3,636 (3.1)% Q2 2025 FINANCIAL RESULTS

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Broadspire Three months ended Unaudited (in thousands, except percentages) June 30, 2025 June 30, 2024 Variance Revenues $100,617 $97,087 3.6% Direct expenses 74,393 70,744 5.2% Gross profit 26,224 26,343 (0.5)% Indirect expenses 12,572 11,252 11.7% Operating earnings $13,652 $15,091 (9.5)% Gross profit margin 26.1% 27.1% (1.0)% Operating margin 13.6% 15.5% (1.9)% Total cases received 140,620 138,567 1.5% Full time equivalent employees 2,803 2,679 4.6% Q2 2025 FINANCIAL RESULTS

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Platform Solutions Three months ended Unaudited (in thousands, except percentages) June 30, 2025 June 30, 2024 Variance Revenues $35,236 $38,827 (9.2)% Direct expenses 27,164 31,511 (13.8)% Gross profit 8,072 7,316 10.3% Indirect expenses 4,940 5,847 (15.5)% Operating earnings $3,132 $1,469 113.2% Gross profit margin 22.9% 18.8% 4.1% Operating margin 8.9% 3.8% 5.1% Total cases received 42,541 73,365 (42.0)% Full time equivalent employees 776 954 (18.7)% Q2 2025 FINANCIAL RESULTS

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Non-GAAP Financial Information Measurements of financial performance not calculated in accordance with GAAP should be considered as supplements to, and not substitutes for, performance measurements calculated or derived in accordance with GAAP. Any such measures are not necessarily comparable to other similarly-titled measurements employed by other companies. Reimbursements for Out-of-Pocket Expenses In the normal course of our business, our operating segments incur certain out-of-pocket expenses that are thereafter reimbursed by our clients. Under GAAP, these out-of-pocket expenses and associated reimbursements are required to be included when reporting expenses and revenues, respectively, in our consolidated results of operations. In this presentation, we do not believe it is informative to include in reported revenues the amounts of reimbursed expenses and related revenues, as they offset each other in our consolidated results of operations with no impact to our net income or operating earnings. As a result, unless noted in this presentation, revenue and expense amounts exclude reimbursements for out-of-pocket expenses. Net Debt Net debt is computed as the sum of long-term debt, capital leases and short-term borrowings less cash and cash equivalents. Management believes that net debt is useful because it provides investors with an estimate of what the Company's debt would be if all available cash was used to pay down the debt of the Company. The measure is not meant to imply that management plans to use all available cash to pay down debt. Free Cash Flow Management believes free cash flow is useful to investors as it presents the amount of cash the Company has generated that can be used for other purposes, including additional contributions to the Company's defined benefit pension plans, discretionary prepayments of outstanding borrowings under our credit agreement, and return of capital to shareholders, among other purposes. It does not represent the residual cash flow of the Company available for discretionary expenditures. Q2 2025 FINANCIAL RESULTS

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Non-GAAP Financial Information (cont.) Segment and Consolidated Operating Earnings Operating earnings is the primary financial performance measure used by our senior management and chief operating decision maker to evaluate the financial performance of our Company and operating segments and make resource allocation and certain compensation decisions. Management believes operating earnings is useful to others in that it allows them to evaluate segment and consolidated operating performance using the same criteria our management and chief operating decision maker use. Consolidated operating earnings represent segment earnings including certain unallocated corporate and shared costs and credits, but before net corporate interest expense, stock option expense, amortization of acquisition-related intangible assets, contingent earnout adjustments, non-service pension costs, income taxes and net income or loss attributable to noncontrolling interests. Segment and Consolidated Gross Profit Gross profit is defined as revenues less direct expenses which exclude indirect overhead expenses allocated to the business. Indirect expenses consist of centralized administrative support costs, regional and local shared services that are allocated to each segment based on usage. Adjusted EBITDA Adjusted EBITDA is used by management to evaluate, assess and benchmark our operational results and the Company believes that adjusted EBITDA is relevant and useful information widely used by analysts, investors and other interested parties. Adjusted EBITDA is defined as net income attributable to shareholders of the Company with recurring adjustments for depreciation and amortization, net corporate interest expense, contingent earnout adjustments, non-service pension costs, income taxes and stock-based compensation expense. Adjusted EBITDA is not a term defined by GAAP and as a result our measure of adjusted EBITDA might not be comparable to similarly titled measures used by other companies. Adjusted Pretax Earnings, Net Income, and Diluted Earnings per Share Included in non-GAAP adjusted measurements as an add back or subtraction to GAAP measurements, are impacts of amortization of acquisition-related intangible assets, contingent earnout adjustments, and non-service pension costs which arise from non-core items not directly related to our normal business or operations, or our future performance. Management believes it is useful to exclude these charges when comparing net income and diluted earnings per share across periods, as these charges are not from ordinary operations. Q2 2025 FINANCIAL RESULTS

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The following table illustrates revenue as a percentage of total revenue in the major currencies of the geographic areas in which Crawford does business: Total Revenue Before Reimbursements by Major Currency Three Months Ended Unaudited (in thousands) June 30, 2025 June 30, 2024 Geographic Area Currency USD equivalent % of total USD equivalent % of total U.S. USD $190,658 59.0% $189,743 60.4% U.K. GBP 44,322 13.7% 41,420 13.2% Canada CAD 23,269 7.2% 22,201 7.1% Australia AUD 21,607 6.7% 22,316 7.1% Europe EUR 16,750 5.2% 15,661 5.0% Rest of World Various 26,391 8.2% 22,886 7.2% Total Revenues, before reimbursements $322,997 100.0% $314,227 100.0% Q2 2025 FINANCIAL RESULTS

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Revenues and Costs of Services Provided Reconciliation of Non-GAAP Item Quarter Ended Quarter Ended Quarter Ended Quarter Ended Unaudited ($ in thousands) June 30, 2025 December 31, June 30, 2024 December 31, 2019 2018 Revenues Before Reimbursements Total Revenues $334,595 $326,853 Reimbursements (11,598) (12,626) Revenues Before Reimbursements 322,997 314,227 Costs of Services Provided, Before Reimbursements Total Costs of Services 236,322 234,891 Reimbursements (11,598) (12,626) Costs of Services Provided, Before Reimbursements $224,724 $222,265 Q2 2025 FINANCIAL RESULTS

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Operating Earnings Reconciliation of Non-GAAP Items (cont.) Quarter Ended Quarter Ended Quarter Ended Quarter Ended June 30, 2025 December 31, June 30, 2024 December 31, Unaudited ($ in thousands) 2019 2018 North America Loss Adjusting $4,595 $4,885 International Operations 7,636 5,702 Broadspire 13,652 15,091 Platform Solutions 3,132 1,469 Unallocated corporate and shared costs, net (7,019) (5,079) Consolidated Operating Earnings 21,996 22,068 (Deduct) Add: Net corporate interest expense (3,858) (4,256) Stock option expense (214) (139) Amortization expense (1,825) (1,856) Non-service pension costs (2,354) (2,399) Contingent earnout adjustments (80) (430) Income tax provision (5,845) (4,486) Net (income) loss attributable to noncontrolling interests (38) 82 Net Income Attributable to Shareholders of Crawford & Company $7,782 $8,584 Q2 2025 FINANCIAL RESULTS

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Adjusted EBITDA Reconciliation of Non-GAAP items (cont.) Quarter Ended December 31, Quarter Ended December 31, June 30, 2025 December 31, June 30, 2024 December 31, Unaudited ($ in thousands) 2019 2018 Net Income Attributable to Shareholders of Crawford & Company $7,782 $8,584 Add: Depreciation and amortization 9,814 8,845 Stock-based compensation 1,695 1,613 Net corporate interest expense 3,858 4,256 Non-service pension costs 2,354 2,399 Contingent earnout adjustments 80 430 Income tax provision 5,845 4,486 Adjusted EBITDA $31,428 $30,613 Q2 2025 FINANCIAL RESULTS

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Net Debt Non-GAAP Financial Information (cont.) June 30, 2025 December 31, December 31, 2024 December 31, Unaudited ($ in thousands) 2019 2018 Short-term borrowings $22,745 $17,750 Current installments of finance leases and other obligations 46 72 Long-term debt and finance leases, less current installments 202,658 200,315 Total debt 225,449 218,137 Less: Cash and cash equivalents 58,529 55,412 Net debt $166,920 $162,725 Q2 2025 FINANCIAL RESULTS

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Segment Gross Profit Non-GAAP Financial Information (cont.) Three months ended Three months ended Unaudited ($ in thousands) June 30, 2025 December 31, 2019 June 30, 2024 December 31, 2018 North America Loss Adjusting $14,247 $14,557 International Operations 23,163 19,187 Broadspire 26,224 26,343 Platform Solutions 8,072 7,316 Segment gross profit 71,706 67,403 Segment indirect costs: North America Loss Adjusting (9,652) (9,672) International Operations (15,527) (13,485) Broadspire (12,572) (11,252) Platform Solutions (4,940) (5,847) Unallocated corporate and shared costs, net (7,019) (5,079) Consolidated operating earnings 21,996 22,068 Net corporate interest expense (3,858) (4,256) Stock option expense (214) (139) Amortization expense (1,825) (1,856) Non-service pension costs (2,354) (2,399) Contingent earnout adjustments (80) (430) Income tax provision (5,845) (4,486) Net (income) loss attributable to noncontrolling interests (38) 82 Net income attributable to shareholders of Crawford & Company $7,782 $8,584 Q2 2025 FINANCIAL RESULTS

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Reconciliation of Second Quarter Non-GAAP Results Three Months Ended June 30, 2025 Unaudited ($ in thousands) Pretax Earnings Pretax (Loss) Earnings Net Income Attributable to Crawford & Company Net (Loss) Income Attributable to Crawford & Company Diluted Earnings per CRD-A Share(1) Diluted (Loss) Earnings per CRD-A Share Diluted Earnings per CRD-B Share(1) Diluted (Loss) Earnings per CRD-B Share GAAP $13,665 $7,782 $0.16 $0.16 Adjustments: Amortization of intangible assets 1,825 1,511 0.03 0.03 Non-service-related pension costs 2,354 1,823 0.04 0.04 Contingent earnout adjustments 80 80 — — Non-GAAP Adjusted $17,924 $11,196 $0.22 $0.22 Three Months Ended June 30, 2024 Unaudited ($ in thousands) Pretax Earnings Pretax Earnings Net Income Attributable to Crawford & Company Net Income Attributable to Crawford & Company Diluted Earnings per CRD-A Share Diluted Earnings per CRD-A Share Diluted Earnings per CRD-B Share Diluted Earnings per CRD-B Share GAAP $12,988 $8,584 $0.17 $0.17 Adjustments: Amortization of intangible assets 1,856 1,565 0.03 0.03 Non-service-related pension costs 2,399 1,876 0.04 0.04 Contingent earnout adjustments 430 423 0.01 0.01 Non-GAAP Adjusted $17,673 $12,448 $0.25 $0.25 Q2 2025 FINANCIAL RESULTS (1) Sum of reconciling items may differ from total due to rounding of individual components