TransUnion 2026 Investor Day Summary Company Overview - **Company**: TransUnion (NYSE: TRU) - **Event**: 2026 Investor Day - **Theme**: Innovation at Scale, Value that Endures [1][2] Core Industry Insights - **Innovation**: TransUnion emphasizes that innovation drives economic growth and creates enduring value for consumers and businesses [3] - **Data Utilization**: The company has been managing and innovating around data for over 50 years, focusing on a holistic understanding of consumer identity [3][4] - **Identity Solutions**: TransUnion offers a comprehensive view of consumer identity, integrating capabilities in fraud, marketing, and consumer solutions [4] Strategic Developments - **Global Expansion**: The company has extended its competitive footprint significantly, entering new markets such as the U.K. and Mexico, with the recent acquisition of Buró de Crédito [7][8] - **Platform Development**: TransUnion has developed global platforms like OneTru for solutions delivery and TrueOps for operations, aimed at enhancing scalability and profitability [9][34] - **AI Integration**: The company is leveraging AI to improve productivity and activate data in innovative ways, enhancing its service offerings [10][11] Financial Performance and Growth - **Revenue Growth**: TransUnion aims to grow revenue by offering a broader range of interrelated products, with a serviceable market now estimated at over $50 billion [26] - **Market Position**: The company has shifted its product revenue mix from a heavy reliance on B2B credit to a more balanced approach, with marketing and fraud solutions gaining traction [27] - **Cost Savings**: The modernization of technology has already delivered nearly $100 million in savings, with further opportunities for structural savings identified [44] Product and Service Innovations - **OneTru Platform**: This platform integrates data management, identity resolution, and analytics, allowing for a unified approach to customer needs across credit, marketing, and fraud [29][50] - **TruIQ Suite**: The suite enhances credit analytics, enabling complex questions to be answered through natural language, transforming them into governed analytical workflows [63] - **AI Agents**: New AI capabilities are being developed to automate client workflows, enhancing productivity and service delivery [37][62] Competitive Advantages - **Data Moat**: TransUnion's proprietary data and identity resolution capabilities provide a competitive edge, particularly in alternative data markets [54][55] - **Regulatory Compliance**: The company operates under strict regulations, which enhances the quality and trustworthiness of its data offerings [41][42] - **Market Leadership**: TransUnion is positioned as a leader in various sectors, including buy now, pay later and fraud prevention, due to its extensive data network and strategic acquisitions [55] Future Outlook - **Growth Projections**: The company anticipates compounding high single-digit revenue growth and mid-teens earnings per share growth, driven by innovation and operational efficiencies [45] - **Global Strategy**: TransUnion plans to deploy its platforms globally, enhancing its ability to scale and innovate across markets [59] - **AI as a Growth Driver**: The integration of AI is expected to not only improve internal productivity but also create new revenue streams and enhance client service capabilities [42][60] Key Takeaways - TransUnion is focused on leveraging innovation and technology to drive growth and enhance customer value - The company is well-positioned in the market with a strong emphasis on data integrity, regulatory compliance, and AI integration - Future growth will be supported by a cohesive global operating model and the expansion of its product offerings across various markets

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 1 Forward-Looking Statements Non-GAAP Financial Information This investor presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of TransUnion's management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statem ...

Financial Data and Key Metrics Changes - Total revenues increased by 12% organically, with the US market growing by 16%, marking one of the strongest performances since 2021 [5][26] - Adjusted diluted EPS grew by 10% in the quarter, or 14% when excluding the impact from the tax rate reset [5][27] - Adjusted EBITDA increased by 10%, with an adjusted EBITDA margin of 35.6% [26][27] Business Line Data and Key Metrics Changes - U.S. financial services revenue grew by 19%, or 11% excluding mortgage, with mortgage revenue increasing by 37% [6][29] - Emerging verticals accelerated to 16% growth, up from 7% in the third quarter, with double-digit growth across various sectors including insurance and e-commerce [6][30] - Credit solutions grew by 13%, driven by U.S. non-mortgage volumes, while marketing solutions saw a growth of 7% [11][12] Market Data and Key Metrics Changes - International revenue grew by 2% on an organic constant currency basis, with Canada and the U.K. both achieving double-digit growth [7][31] - India experienced a decline of 4% in the quarter, attributed to a reset year for unsecured lending and credit card originations [7][33] - The U.S. markets are expected to see high single-digit growth, while international markets are anticipated to grow mid-single-digit [42] Company Strategy and Development Direction - The company aims to build on its momentum and drive innovation-led growth, with a focus on launching new AI-powered solutions [17][18] - The strategic focus for 2026 includes enhancing product predictiveness and capturing more value within customer workflows [17][18] - The company completed its transformation investment program, which is expected to yield full target savings in 2026 [16][38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving high single-digit revenue growth and double-digit adjusted EPS growth for 2026 [16][50] - The company anticipates a gradual recovery in international markets and modest U.S. lending growth [16][34] - Management highlighted the importance of AI in driving growth and improving operational efficiency [19][24] Other Important Information - The company repurchased approximately $150 million of shares in the fourth quarter, totaling $300 million for 2025 [5][37] - A quarterly dividend was raised by 9% to $0.125 per share, reflecting a commitment to returning capital to shareholders [5][37] - The acquisition of a majority ownership of TransUnion de México is expected to close in the first half of 2026 [37][38] Q&A Session Questions and Answers Question: Insights on U.S. emerging vertical guidance - Management acknowledged strong growth in emerging verticals and emphasized a conservative approach to guidance, aiming for beats and raises throughout the year [54][55] Question: Differentiation in marketing and fraud solutions - Management highlighted the proprietary identity data assets and resolution capabilities as key differentiators, emphasizing the extensive data sources and integrations that competitors may lack [65][66]

Summary of J.P. Morgan Information Services Conference Call Industry Overview - The Information Services sector underperformed the S&P 500 in 2025, with J.P. Morgan's Info Services Index down -7% compared to a +13% increase for the S&P 500 [2][9] - The sector is currently trading at a median P/E of 25.9x based on 2026E EPS estimates, which is close to a five-year low valuation premium of 21% over the S&P 500 [2][10] Key Insights on AI and Market Dynamics - Uncertainty regarding AI disruption has been a significant factor in the sector's underperformance in 2025 [3][19] - There is a growing correlation between clients' AI adoption and their foundational data consumption, suggesting that as AI adoption increases, so will demand for data services [3][22] - The narrative around AI is expected to shift positively, leading to a re-evaluation of the sector's growth potential and valuation multiples, which could return to historical premiums of 40-60% over the broader market [3][22] Revenue Growth Expectations - The sector is projected to achieve a median organic constant currency revenue growth of +8% year-over-year in 2026, surpassing the historical CAGR of ~6% [4][27] - Credit rating agencies are expected to benefit from macroeconomic and M&A tailwinds, with Moody's and S&P Global positioned for strong growth [4][40] Company-Specific Highlights - **TransUnion (TRU)**: - Trading at 20.4x 2026E EPS, with expected organic revenue growth of +8% in 2025 and +7% in 2026 [7] - The rollout of the OneTru platform is anticipated to drive innovation and revenue growth [7] - Free cash flow is expected to increase from $600 million in 2025E to $834 million in 2026E, aiding in acquisitions and buybacks [7] - **S&P Global (SPGI)**: - Expected to deliver high-single-digit organic revenue growth in 2026, with margin expansion and aggressive share buybacks [8] - The planned spin-off of the Mobility segment will impact revenue estimates, but the core divisions are well-positioned for growth [8] Buyback Activity - Info Services firms are expected to accelerate share buybacks in 2026, with S&P Global, MSCI, Moody's, and FICO being the most active [33] - The sector's buyback activity is at its highest since early 2022, which should support EPS growth in 2026 [33] M&A Activity - 2025 saw limited M&A activity, but notable transactions include TransUnion's acquisition of Trans Union de Mexico and S&P Global's acquisition of With Intelligence [36] - The success of these acquisitions will be crucial for future performance, particularly for S&P Global in the private markets [36] Risks and Challenges - The emergence of AI-native startups poses a competitive threat, potentially compressing product development cycles and increasing execution risks [64][67] - The market for credit reports and scores is expected to evolve dynamically, with potential price increases leading to industry discussions about shifting to a "bi-merge" report [59][63] Conclusion - The Information Services sector is entering 2026 with favorable growth prospects and attractive valuations, despite the challenges posed by AI disruption and competitive pressures. The anticipated recovery in mortgage activity and continued demand for data services are expected to drive revenue growth across key players in the sector.

Third Quarter 2025 Earnings October 23, 2025 Chris Cartwright, President and CEO Todd Cello, CFO This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of TransUnion's management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Factors that could cause TransUnion's actu ...