Third-Quarter 2024 Earnings November 6, 2024 IIIBRINKS Safe Harbor Statements and Non-GAAP Results These materials contain forward-looking information. Words such as "anticipate," "assume," "estimate," "expect," "target" "project," "model", "predict," "intend," "plan," "believe," "potential," "may," "should" and similar expressions may identify forward-looking information. Forward-looking information in these materials includes, but is not limited to, information regarding: updated 2024 outlook, including r ...

Financial Data and Key Metrics - Total organic growth of 13% in Q3 2024, with ATM managed services and digital retail solutions (AMS and DRS) growing 26% organically [7] - Cash and valuables management (CVM) grew 9% organically, with pricing execution offsetting market softness in the global services business [8] - Adjusted EBITDA of $217 million, impacted by a $10 million increase in security losses, resulting in an 18% EBITDA margin, down 80 basis points YoY [9] - Free cash flow of $135 million, driven by better asset efficiency and working capital improvements, partially offset by lower EBITDA and currency impacts [10] - Share repurchases of $125 million year-to-date through Q3, reducing share count by 5% YoY [15] Business Line Performance - AMS and DRS delivered double-digit organic growth in all regional segments, with a robust backlog supporting Q4 forecasts [7][14] - Global Services faced softness due to high gold and silver prices, impacting revenue and profit across all segments, including the Americas [26][27] - AMS achieved its third consecutive quarter of accelerating organic growth, with new customers set to onboard in early 2025 [29] - DRS continued to exceed expectations, with double-digit growth in all segments and a strong pipeline of potential customers [28] Market Performance - The strengthening U.S. dollar caused an 11% FX headwind, primarily due to the devaluation of the Mexican peso [8][19] - Latin America, a high-margin region, faced significant FX headwinds, impacting EBITDA margins [9][36] - North America saw a 120 basis point improvement in margins, driven by technology and systems investments [21] Strategic Direction and Industry Competition - The company is focusing on expanding margins through AMS and DRS, with a target of mid-to-high-teens organic revenue growth by 2025 [14][49] - Investments in data center migration, cybersecurity upgrades, and routing systems are expected to drive long-term growth and margin expansion [42] - The company is leveraging its global footprint to capture market share in AMS and DRS, with a strong pipeline of opportunities [14][29] Management Commentary on Operating Environment and Future Outlook - Management remains confident in the long-term growth potential of AMS and DRS, despite near-term FX and market softness headwinds [18][48] - The company expects to achieve mid-single-digit organic growth in 2025, driven by strong AMS and DRS performance [49] - Management highlighted the importance of operational improvements and cost productivity initiatives to enhance EBITDA margins [11][25] Other Key Information - The company appointed Josh Teteak to lead cost productivity efforts and Nader Antar as Global Leader of Brink's Global Services, focusing on growth opportunities and operational improvements [11][12] - A $10 million security loss in Latin America impacted Q3 results, but no further impact is expected for the rest of the year [68] Q&A Session Summary Question: Impact of softer Global Services demand vs. AMS and DRS growth assumptions - Global Services faced headwinds due to high gold and silver prices, but AMS and DRS growth assumptions were increased, driving overall organic growth [52] Question: Free cash flow conversion and long-term targets - The company remains confident in achieving a 50% free cash flow conversion target in the long term, though timing is uncertain [53] Question: FX headwinds and potential incremental impact in Q4 - FX headwinds, primarily from the Mexican peso, are expected to continue into Q4, with potential incremental impacts depending on currency movements [54][57] Question: AMS and DRS growth outlook - AMS and DRS growth is expected to remain strong, with a mid-to-high-teens organic growth rate anticipated for the next few years [64] Question: Impact of new leadership on Global Services performance - New leadership is expected to bring fresh perspectives and operational improvements, with a focus on expanding services and strengthening compliance [67] Question: Details on the $10 million security loss - The loss was due to a theft in Latin America, with no further impact expected for the rest of the year [68]

[Third-Quarter 2024 Financial Highlights](index=1&type=section&id=Third-Quarter%202024%20Financial%20Highlights) [Overview of Third-Quarter 2024 Performance](index=1&type=section&id=Overview%20of%20Third-Quarter%202024%20Performance) Brink's achieved 3% revenue growth in Q3 2024, fueled by strong organic expansion in high-margin services, though profitability was impacted by currency and a significant security loss - ATM Managed Services (AMS) and Digital Retail Solutions (DRS) demonstrated strong performance with **26% organic growth** in Q3[2](index=2&type=chunk) - Higher-margin, recurring revenue from AMS and DRS now accounts for over **23% of total company revenue** and is projected to achieve over **20% organic growth** for the full year 2024[2](index=2&type=chunk) - Profitability was adversely affected by the strong U.S. dollar, cyclical market headwinds in global services, and the timing of a large security loss[2](index=2&type=chunk) [Third-Quarter 2024 Financial Summary](index=1&type=section&id=Third-Quarter%202024%20Financial%20Summary) Q3 2024 revenue increased 3% to $1.259 billion, while GAAP operating profit declined 19% to $112 million and GAAP EPS dropped 33% to $0.65 Third-Quarter 2024 Financial Results (vs. 2023, in millions) | Metric | GAAP | GAAP Change | Non-GAAP | Non-GAAP Change | Constant Currency Change | | :--- | :--- | :--- | :--- | :--- | :--- | | **Revenue** | $1,259 million | 3% | $1,259 million | 3% | 13% | | **Operating Profit** | $112 million | (19)% | $152 million | (9)% | 20% | | **Operating Profit Margin** | 8.9% | (230 bps) | 12.0% | (150 bps) | 90 bps | | **Net Income / Adj. EBITDA** | $29 million | (37)% | $217 million | (6)% | 16% | | **EPS** | $0.65 | (33)% | $1.51 | (27)% | 10% | [Security Losses](index=2&type=section&id=Security%20Losses) Third-quarter results were impacted by a $10 million year-over-year increase in security losses, primarily due to a single large loss event - A large loss event contributed to a **$10 million year-over-year increase** in security losses for Q3[4](index=4&type=chunk) - The company affirmed that this Q3 increase is not expected to alter its full-year outlook on security losses[4](index=4&type=chunk) [Full-Year 2024 Guidance](index=2&type=section&id=Full-Year%202024%20Guidance) [Updated 2024 Non-GAAP Outlook](index=2&type=section&id=Updated%202024%20Non-GAAP%20Outlook) Brink's updated its full-year 2024 Non-GAAP guidance, projecting revenues between $5.0 and $5.05 billion and Adjusted EBITDA between $900 and $920 million Updated 2024 Non-GAAP Outlook (in millions) | Metric | Guidance Range (in millions) | | :--- | :--- | | **Revenues** | $5,000 - $5,050 | | **Adjusted EBITDA** | $900 - $920 | | **Adjusted EBITDA margin** | ~18.1% | | **Free cash flow before dividends** | $320 - $360 | - Full-year 2024 EPS from continuing operations attributable to Brink's is guided to be between **$6.50 and $6.80**[5](index=5&type=chunk) [Condensed Consolidated Financial Statements (Unaudited)](index=3&type=section&id=Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of September 30, 2024, total assets increased slightly to $6.67 billion, while total liabilities rose and total equity decreased Balance Sheet Summary (in millions) | Account | Sep 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | **Total Assets** | $6,670.6 | $6,601.8 | | **Total Liabilities** | $6,262.5 | $6,081.6 | | **Total Equity** | $408.1 | $520.2 | [Condensed Consolidated Statements of Cash Flows](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended September 30, 2024, net cash from operating activities significantly decreased to $56.2 million, while financing activities reversed to a net cash inflow Cash Flow Summary - Nine Months Ended (in millions) | Cash Flow Activity | Sep 30, 2024 | Sep 30, 2023 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $56.2 | $293.0 | | **Net cash used in investing activities** | ($181.4) | ($147.9) | | **Net cash provided by (used in) financing activities** | $99.5 | ($207.4) | | **Net decrease in cash** | ($44.8) | ($90.0) | [Segment Performance Analysis](index=5&type=section&id=Segment%20Performance%20Analysis) [Third-Quarter 2024 Segment Results (vs. 2023)](index=5&type=section&id=Third-Quarter%202024%20Segment%20Results%20(vs.%202023)) In Q3 2024, Latin America led organic revenue growth at 34%, Europe showed strong 10% revenue growth, and North America's operating profit fell 13% Q3 2024 Segment Revenue & Operating Profit (vs. Q3 2023, in millions) | Segment | Revenue | Revenue Change | Organic Growth | Operating Profit | Operating Profit Change | | :--- | :--- | :--- | :--- | :--- | :--- | | **North America** | $413 | 4% | 3% | $42 | (13)% | | **Latin America** | $321 | (5)% | 34% | $70 | 3% | | **Europe** | $316 | 10% | 8% | $40 | 12% | | **Rest of World** | $209 | 4% | 3% | $44 | 3% | [Nine-Month 2024 Segment Results (vs. 2023)](index=6&type=section&id=Nine-Month%202024%20Segment%20Results%20(vs.%202023)) For the first nine months of 2024, total revenue grew 3% with 13% organic growth, led by Latin America's 36% organic expansion Nine-Month 2024 Segment Revenue & Operating Profit (vs. 2023, in millions) | Segment | Revenue | Revenue Change | Organic Growth | Operating Profit | Operating Profit Change | | :--- | :--- | :--- | :--- | :--- | :--- | | **North America** | $1,230 | 3% | 2% | $142 | 15% | | **Latin America** | $987 | 0% | 36% | $197 | (2)% | | **Europe** | $917 | 9% | 8% | $98 | 13% | | **Rest of World** | $614 | 2% | 3% | $124 | 2% | [Detailed Quarterly Segment Results (2023-2024)](index=8&type=section&id=Detailed%20Quarterly%20Segment%20Results%20(2023-2024)) Quarterly trends show consistent revenue growth in Europe, stable North American revenue, volatile Latin American revenue, and variable segment operating profit margins - Total segment operating profit has shown a sequential increase through the first three quarters of 2024, from **$178.4 million** in Q1 to **$195.7 million** in Q3[23](index=23&type=chunk) - North America's operating margin decreased from **12.5%** in Q2 2024 to **10.1%** in Q3 2024[24](index=24&type=chunk) - Latin America's operating margin recovered to **21.9%** in Q3 2024 after dipping in the first half of the year[24](index=24&type=chunk) [Reconciliation of GAAP to Non-GAAP Measures](index=9&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Measures) [Explanation of Non-GAAP Adjustments](index=9&type=section&id=Explanation%20of%20Non-GAAP%20Adjustments) The company excludes reorganization, acquisition, Argentina's inflationary impact, transformation initiatives, and certain legal costs from Non-GAAP results to clarify core operational performance [Reorganization and Restructuring](index=9&type=section&id=Reorganization%20and%20Restructuring) Costs related to the 2022 Global Restructuring Plan, primarily severance and asset impairments, are excluded from Non-GAAP results - The 2022 Global Restructuring Plan has resulted in **$34.2 million** in total charges and reduced the global workforce by about **3,200 positions**[29](index=29&type=chunk) [Acquisitions and Dispositions](index=9&type=section&id=Acquisitions%20and%20Dispositions) Non-cash amortization of acquisition-related intangible assets and integration costs are excluded due to their inconsistent timing and nature - Amortization expense for acquisition-related intangible assets amounted to **$43.8 million** in the first nine months of 2024[32](index=32&type=chunk) [Argentina Highly Inflationary Impact](index=11&type=section&id=Argentina%20Highly%20Inflationary%20Impact) Pretax charges of $23.8 million related to Argentina's highly inflationary economy, including currency remeasurement losses, are excluded from Non-GAAP results - In the first nine months of 2024, the company recognized **$23.8 million** in pretax charges related to Argentina's highly inflationary accounting[34](index=34&type=chunk) [Transformation Initiatives](index=11&type=section&id=Transformation%20Initiatives) Expenses of $21.5 million for a multi-year business transformation program, primarily for third-party services, are excluded from Non-GAAP results - The company incurred **$21.5 million** in costs for its business transformation program in the first nine months of 2024[35](index=35&type=chunk) [Other Legal and Compliance Matters](index=11&type=section&id=Other%20Legal%20and%20Compliance%20Matters) Several non-recurring legal and compliance costs, including accruals for a DOJ investigation and a Chilean antitrust matter, are excluded from Non-GAAP results - Accrued **$7.7 million** in the first nine months of 2024 related to a U.S. Department of Justice (DOJ) investigation into AML compliance[36](index=36&type=chunk) - Recognized a **$1.1 million adjustment** in the first nine months of 2024 for a potential fine related to a Chilean antitrust investigation[37](index=37&type=chunk) [Reconciliation Tables](index=13&type=section&id=Reconciliation%20Tables) Detailed reconciliations bridge GAAP figures to Non-GAAP measures, adjusting for items like restructuring, acquisition impacts, and Argentina's economy to derive core performance metrics [Reconciliation of Operating Profit](index=14&type=section&id=Reconciliation%20of%20Operating%20Profit) Q3 2024 GAAP Operating Profit of $111.6 million was adjusted for acquisitions, Argentina's impact, and transformation initiatives to reach Non-GAAP Operating Profit of $151.6 million Q3 Operating Profit Reconciliation (in millions) | Description | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | **GAAP Operating Profit** | **$111.6** | **$137.7** | | Acquisitions and dispositions | $16.5 | $19.4 | | Argentina highly inflationary impact | $10.8 | $8.1 | | Transformation initiatives | $9.5 | $0.0 | | Other Adjustments | $2.8 | $1.1 | | **Non-GAAP Operating Profit** | **$151.6** | **$166.3** | [Reconciliation of Net Income and Adjusted EBITDA](index=14&type=section&id=Reconciliation%20of%20Net%20Income%20and%20Adjusted%20EBITDA) In Q3 2024, Net Income of $28.9 million was reconciled to an Adjusted EBITDA of $216.8 million, representing a 6% year-over-year decline in Adjusted EBITDA Q3 Adjusted EBITDA Reconciliation (in millions) | Description | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | **Net income attributable to Brink's** | **$28.9** | **$45.6** | | Interest expense | $63.0 | $53.8 | | Income tax provision | $27.2 | $37.3 | | Depreciation and amortization | $74.8 | $69.1 | | **EBITDA** | **$193.9** | **$205.8** | | Non-GAAP Adjustments | $22.9 | $24.7 | | **Adjusted EBITDA** | **$216.8** | **$230.5** | [Reconciliation of Earnings Per Share (EPS)](index=15&type=section&id=Reconciliation%20of%20Earnings%20Per%20Share%20(EPS)) GAAP EPS for Q3 2024 was $0.65, adjusted to a Non-GAAP EPS of $1.51 after accounting for acquisitions and Argentina's inflation, a 27% decrease from Q3 2023 Q3 EPS Reconciliation | Description | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | **GAAP EPS** | **$0.65** | **$0.97** | | Acquisitions and dispositions | $0.36 | $0.31 | | Argentina highly inflationary impact | $0.22 | $0.67 | | Transformation initiatives | $0.21 | $0.00 | | Other Adjustments | $0.07 | $0.12 | | **Non-GAAP EPS** | **$1.51** | **$2.07** | [Reconciliation of Free Cash Flow](index=15&type=section&id=Reconciliation%20of%20Free%20Cash%20Flow) For the nine months ended September 30, 2024, free cash flow before dividends was $98.0 million, derived from GAAP operating cash flows with specific adjustments Free Cash Flow Reconciliation - Nine Months Ended (in millions) | Description | Sep 30, 2024 | Sep 30, 2023 | | :--- | :--- | :--- | | **Cash flows from operating activities - GAAP** | **$56.2** | **$293.0** | | Adjustments for restricted cash & customer obligations | $170.3 | $50.4 | | Capital expenditures | ($159.9) | ($133.1) | | Proceeds from asset sales & financing | $31.4 | $25.5 | | **Free cash flow before dividends** | **$98.0** | **$235.8** | [Other Information](index=2&type=section&id=Other%20Information) [Forward-Looking Statements](index=7&type=section&id=Forward-Looking%20Statements) This section contains cautionary language regarding forward-looking statements, including the 2024 outlook, subject to various risks and uncertainties - Forward-looking statements include the updated 2024 outlook and are subject to risks such as currency volatility, geopolitical conflicts, and ability to integrate acquisitions[18](index=18&type=chunk)[19](index=19&type=chunk) - The company directs readers to its Annual Report on Form 10-K for a comprehensive discussion of risk factors[20](index=20&type=chunk) [Conference Call Information](index=2&type=section&id=Conference%20Call%20Information) Brink's scheduled a conference call for November 6 at 9:00 a.m. ET to discuss third-quarter results, with details provided for access and replay - A conference call to review Q3 results was scheduled for November 6 at 9:00 a.m. ET[7](index=7&type=chunk)

Financial Data and Key Metrics Changes - The company reported total organic growth of 14%, with adjusted EBITDA growing 16% to $226 million and margins expanding by 200 basis points to 18% [6][21][28] - Earnings per share increased by 31% to $1.67, driven by a 25% increase in net income and a 5% reduction in outstanding shares [6][22] - Free cash flow conversion remained strong, with expectations for full-year free cash flow between $415 million and $465 million [9][24][28] Business Line Data and Key Metrics Changes - ATM Managed Services and Digital Retail Solutions (AMS DRS) grew 26% organically, while Cash and Valuables Management (CVM) was up 10% organically [6][10] - AMS and DRS now represent 22% of total trailing 12-month revenue, with expectations for continued double-digit organic growth [17][28] - All segments experienced growth, but Global Services faced cyclical market softness impacting overall performance [10][11] Market Data and Key Metrics Changes - North America saw notable margin expansion of 360 basis points year-over-year, marking the eighth consecutive quarter of margin improvement [8][12] - Latin America faced challenges due to currency fluctuations, particularly in Argentina, impacting margins while pricing efforts catch up [10][11][49] - The company experienced an 11% translational foreign exchange headwind, which affected revenue growth expectations [9][20][27] Company Strategy and Development Direction - The company is focused on executing its strategy through growth in customer loyalty, innovation, operational excellence, and talent development [29] - Continued investments in technology and process improvements are aimed at enhancing operational efficiency and customer satisfaction [13][25] - The capital allocation framework emphasizes sustainable profitable growth, shareholder returns, and potential M&A opportunities aligned with AMS and DRS [24][26][60] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving low- to mid-teens organic revenue growth and double-digit EBITDA growth for the year [9][28] - The company remains optimistic about the resilience of its business model amid economic volatility, citing a broad distribution of customers [19][28] - Management acknowledged the impact of foreign exchange fluctuations but remains focused on driving productivity and managing costs effectively [49][50] Other Important Information - The company successfully refinanced its 2025 bonds, increasing liquidity and receiving a credit rating upgrade from S&P [9][23] - Shareholder returns increased by 133% over the first half of 2023, with $86 million allocated towards returns [8][26] - The company is targeting a capital structure that allows for continued investments in growth while maintaining financial flexibility [24][26] Q&A Session Summary Question: Can you talk about broader customer traction and receptivity within AMS and DRS? - Management noted strong customer traction across all regions, with a balanced growth contribution from new business, conversions, and competitive wins [31][40] Question: How should investors think about organic growth run rate moving into the back half of the year? - Management indicated that Q2 growth is expected to continue into Q3 and Q4, with a potential step-up in growth rates [43][44] Question: How is the company addressing inflationary issues in Latin America? - Management highlighted that while Argentina is performing as expected, currency fluctuations in Mexico and Brazil have posed challenges, but pricing strategies are in place to mitigate impacts [47][49]

Second-Quarter 2024 Earnings August 7, 2024 Safe Harbor Statements and Non-GAAP Results These materials contain forward-looking information. Words such as "anticipate," "assume," "estimate," "expect," "target" "project," "model", "predict," "intend," "plan," "believe," "potential," "may," "should" and similar expressions may identify forward-looking information. Forward-looking information in these materials includes, but is not limited to, information regarding: 2024 outlook, including revenue, adjusted EB ...

Financial Performance - Consolidated revenues for Q2 2024 increased by $36.9 million to $1,253.1 million, a 3% increase compared to Q2 2023, driven by organic growth in Latin America, Europe, North America, and Rest of World [171]. - Operating profit for Q2 2024 rose by $10.4 million to $116.0 million, a 10% increase year-over-year, primarily due to organic growth in Latin America and North America [173]. - Income from continuing operations attributable to Brink's shareholders increased by $14.1 million to $46.3 million, resulting in diluted EPS of $1.03, up 51% from $0.68 in Q2 2023 [174]. - For the first half of 2024, revenues increased by $87.6 million to $2,489.2 million, a 4% increase compared to the first half of 2023, with organic growth primarily in Latin America [175]. - Non-GAAP operating profit for Q2 2024 increased by $23.8 million to $155.6 million, an 18% increase year-over-year, reflecting strong performance across segments [178]. - Non-GAAP income from continuing operations attributable to Brink's shareholders rose by $15.2 million to $75.4 million, with diluted EPS increasing to $1.67 from $1.27 in Q2 2023 [179]. - Non-GAAP adjusted EBITDA for Q2 2024 increased by 16% to $225.9 million, driven by higher operating profit [179]. - Total segment revenues for 2Q'24 reached $1,253.1 million, a 3% increase from the previous year, with a 14% organic growth [184]. - Non-GAAP net income for Q2 2024 was $155.6 million, compared to $131.8 million in Q2 2023, reflecting a year-over-year increase of 17.9% [237]. - The company’s GAAP operating profit for Q2 2024 was $116.0 million, an increase from $105.6 million in Q2 2023 [237]. - GAAP net income from continuing operations attributable to Brink's for Q2 2024 was $46.3 million, compared to $32.2 million in Q2 2023, representing a 43.5% increase [239]. Revenue Growth by Region - North America revenues increased by 4% ($14.6 million) due to a 3% organic increase ($10.4 million) and acquisitions impact of $4.8 million [186]. - Latin America revenues decreased by 1% ($2.2 million) primarily due to unfavorable currency exchange rates ($128.9 million), offset by a 38% organic increase ($126.7 million) [187]. - Europe revenues increased by 8% ($23.8 million) driven by a 9% organic increase ($25.6 million) and acquisitions impact of $1.9 million [188]. - Rest of World revenues increased by $0.7 million due to a 2% organic increase ($4.0 million), partially offset by unfavorable currency exchange rates ($3.3 million) [189]. Currency and Exchange Impact - The unfavorable impact of currency exchange rates was $136.5 million in Q2 2024, primarily due to the Argentine peso [172]. - The company reported transaction gains of $7.2 million in Q2 2024, compared to a loss of $14.0 million in Q2 2023, indicating a favorable change [224]. - As of June 30, 2024, the fair value of the cross currency swap contracts was a net liability of $23.4 million, with $5.6 million included in prepaid expenses and $29.0 million in other liabilities [219]. - The company reported a net liability of $34.6 million for currency swaps as of December 31, 2023, with $5.6 million in prepaid expenses and $40.2 million in other liabilities [219]. Operating Expenses and Profitability - Selling, general and administrative expenses increased by 14% to $194.3 million in Q2 2024, mainly due to organic labor cost increases [172]. - Total operating profit for 2Q'24 was $116.0 million, a 10% increase from the previous year, with a 52% organic growth [184]. - North America operating profit increased by 38% ($14.2 million) due to a 37% organic increase ($13.7 million) [186]. - Latin America operating profit decreased by 4% ($2.7 million) primarily due to unfavorable currency exchange rates ($40.9 million), despite a 58% organic increase ($38.2 million) [187]. - Europe operating profit increased by $2.9 million, primarily due to an 11% organic increase ($3.1 million) [188]. Corporate Expenses and Charges - Corporate expenses for the first six months of 2024 decreased by $15.4 million compared to the prior year, mainly due to lower insurance and security losses [198]. - Total recognized charges under the 2022 Global Restructuring Plan amounted to $34.0 million, with expected total expenses between $36 million and $38 million, aiming for annualized cost savings of approximately $60 million [200]. - The company incurred $12.0 million in transformation initiative costs in the first six months of 2024, aimed at accelerating growth and driving margin expansion [205]. - The company recognized $13.0 million in pretax charges related to highly inflationary accounting in Argentina, down from $22.2 million in the same period of 2023 [204]. Cash Flow and Capital Expenditures - Cash flows from operating activities decreased by $107.5 million in the first six months of 2024, resulting in a negative cash flow of $2.2 million compared to a positive cash flow of $105.3 million in the same period of 2023 [241]. - Free cash flow before dividends decreased by $103.7 million in the first six months of 2024, amounting to $(36.8) million compared to $66.9 million in the same period of 2023 [244]. - Capital expenditures increased to $108.9 million in the first six months of 2024, up from $89.4 million in the same period of 2023, marking a 21.9% increase [246]. - Cash used in investing activities decreased by $28.2 million in the first six months of 2024, totaling $(116.4) million compared to $(144.6) million in the same period of 2023 [246]. Debt and Liquidity - Total debt as of June 30, 2024, was $3,747.1 million, up from $3,531.3 million at the end of 2023, reflecting an increase of $215.8 million [254]. - Net debt increased by $205 million to $2,726.0 million as of June 30, 2024, primarily to fund general corporate purposes [255]. - The company financed its liquidity needs in the first six months of 2024 with existing cash from operations and cash flows from long-term debt [240]. - As of June 30, 2024, $950 million was available under the Revolving Credit Facility to meet liquidity needs [256]. Pension and Retirement Plans - The primary U.S. pension plan's beginning funded status was $(24.0) million in 2023, improving to $(10.9) million in the first half of 2024 [262]. - The ending funded status for the primary U.S. pension plan is projected to reach $20.6 million by 2027 and $34.5 million by 2028 [262]. - The UMWA plans had a beginning funded status of $(94.9) million in 2023, with an expected ending status of $(90.0) million by 2028 [264]. - The Black Lung plans had a beginning funded status of $(75.8) million in 2023, projected to improve to $(54.2) million by 2028 [265]. - Payments from Brink's to U.S. retirement plans totaled $7.7 million in 2023, with projections of $9.3 million for FY2024 [268]. Taxation - The provision for income taxes for continuing operations was $22.1 million in Q2 2024, with an effective tax rate of 30.7%, down from 39.9% in Q2 2023 [228]. - The effective income tax rate for YTD 2024 was 28.1%, compared to 24.8% for YTD 2023, indicating an increase of 3.3 percentage points [235]. - Cash payments for income taxes increased to $68.5 million in the first six months of 2024, compared to $54.7 million in the same period of 2023, reflecting a 25.5% increase [243].

Exhibit 99.1 (In millions, except for per share amounts) Second-Quarter 2024 (vs. 2023) IBRINKS P R E S S R E L E A S E Contact: Investor Relations 804.289.9709 BRINK'S CORPORATE The Brink's Company 1801 Bayberry Court Richmond, VA 23226-8100 USA Brink's Announces Strong Second-Quarter Results Record Second-Quarter revenue with growth of 3% Organic revenue growth of 14%, including accelerating AMS/DRS organic growth of 26% GAAP net income up 44% to $46M and adjusted EBITDA up 16% to $226M GAAP EPS up 51% to ...

First-Quarter 2024 Earnings May 8, 2024 Safe Harbor Statements and Non-GAAP Results These materials contain forward-looking information. Words such as "anticipate," "assume," "estimate," "expect," “target” "project," “model”, "predict," "intend," "plan," "believe," "potential," "may," "should" and similar expressions may identify forward-looking information. Forward-looking information in these materials includes, but is not limited to, information regarding: 2024 outlook, including revenue, adjusted EBITDA ...

Financial Data and Key Metrics Changes - The company reported organic growth of 12% for Q1 2024, with adjusted EBITDA growing 15% to $218 million and margins expanding 160 basis points to 17.7%, the highest first-quarter margins in over a decade [6][7][11] - Earnings per share (EPS) increased by 20% to $1.52, supported by profit growth and a reduction in share count by about 4% [7][11] - Trailing 12-month free cash flow improved by 61% to $363 million, with a conversion rate from adjusted EBITDA of 41% [8][11] Business Line Data and Key Metrics Changes - ATM Managed Services (AMS) and Digital Retail Solutions (DRS) grew by 18%, driven by strong demand [6][10] - Cash and Valuables Management (CVM) saw an 11% increase, supported by strong pricing discipline [6][10] - All segments reported organic growth, with North America achieving a record adjusted EBITDA margin of 16.9%, up 280 basis points [12][13] Market Data and Key Metrics Changes - North America experienced a sequential acceleration in organic revenue growth to 1%, with expectations for further growth as the company capitalizes on a larger pipeline [12][13] - Latin America reported organic growth of 37%, driven by pricing efforts to offset inflation [13][14] - Europe delivered 6% organic growth with margin expansion, supported by recent large DRS and AMS wins [14] Company Strategy and Development Direction - The company is focused on customer loyalty, innovation, operational excellence, and talent development, balancing long-term investments with short-term commitments [6] - A disciplined capital allocation approach is maintained, with a systematic share repurchase program and a 10% increase in dividends announced [9][24] - The company aims to shift its revenue mix towards higher-margin, faster-growing solutions, optimizing its business model for better asset utilization [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering full-year commitments, affirming guidance for low-to-mid teens organic revenue growth and adjusted EBITDA margin expansion [10][27] - The company is optimistic about the potential of transformational initiatives in routing, scheduling, and labor optimization to sustain positive momentum [13][28] - Management acknowledged ongoing geopolitical and economic headwinds in Latin America, particularly in Argentina and Brazil, while remaining focused on disciplined pricing strategies [13][14] Other Important Information - The company celebrated its 165th anniversary, highlighting a strong strategic plan and motivated workforce [29] - The impact of foreign exchange was noted, particularly the devaluation of the Argentine peso, which affected revenue growth [10][20] Q&A Session Summary Question: Can you elaborate on changes made to shorten the time from pipeline to contract signing? - Management discussed improvements in contract management and synchronization with supply chain processes to expedite agreements [32][34] Question: How does AMS growth compare to DRS growth, and where are the most opportunities? - Management indicated that growth was balanced between AMS and DRS, with significant opportunities in combined solutions, particularly in retail [36][37] Question: Can you quantify the extent of DRS migrations versus new sales to unvented customers? - Management stated that growth is balanced between unvented space and conversions from traditional CIT customers, with ongoing focus on expanding DRS offerings [40][41] Question: How does the company view its competitive position in the AMS market? - Management described the AMS market as nascent but expanding, emphasizing the company's unique value proposition in providing integrated solutions [44][45]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $1.00 per share BCO New York Stock Exchange FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ C ...