#1X Exponent Ⓡ Investor Presentation © 2023 Exponent, Inc. | Privileged & Confidential X 1#2Forward Looking Statements & Non-GAAP Financial Measures This presentation release contains, and incorporates by reference, certain "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995, and the rules promulgated pursuant to the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended) that are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. When used in this document and in the documents incorporated herein by reference, the words "intend," "anticipate," "believe," "estimate," "expect" and similar expressions, as they relate to the Company or its management, identify such forward-looking statements. Such statements reflect the current views of the Company or its management with respect to future events and are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, the Company's actual results, performance, or achievements could differ materially from those expressed in, or implied by, any such forward-looking statements. Factors that could cause or contribute to such material differences include the COVID-19 pandemic (including factors relating to measures implemented by governmental authorities or by us to promote the safety of our employees, vendors and clients; other direct and indirect impacts on our business and the businesses of our clients, vendors and other partners; impacts which may, among other things, adversely affect our clients' ability to utilize our services at the levels they have previously; disruptions of access to our facilities or those of our clients or third parties; and increased and potentially significant economic uncertainty and volatility, including credit and collectability risks and potential disruptions of capital and credit markets), the possibility that the demand for our services may decline as a result of changes in generally applicable and industry-specific economic conditions, the timing of engagements for our services, the effects of competitive services and pricing, the absence of backlog related to our business, our ability to attract and retain key employees, the effect of tort reform and government regulation on our business, and liabilities resulting from claims made against us. Additional risks and uncertainties are discussed in our Annual Report on Form 10-K under the heading "Risk Factors" and elsewhere in the report. The inclusion of such forward-looking information should not be regarded as a representation by the Company or any other person that the future events, plans, or expectations contemplated by the Company will be achieved. The Company undertakes no obligation to release publicly any updates or revisions to any such forward-looking statements. Exponent 2#3When Getting It Right Matters Exponent harnesses the power of technical excellence, objectivity and disciplinary diversity to solve our clients' toughest science, engineering and business challenges Exponent 3#4Empowering Our Clients with Solutions for a Safe, Healthy, Sustainable and Technologically Complex World • Overview Multidisciplinary Consulting Capabilities EXPO by the Numbers $ $ $ • Solving High Exposure Challenges Across the Globe. $513M $1.96 30% FY22 Revenue FY22 EPS FY22 EBITDA Margin 1,2 $0.26 Quarterly Dividend • World Class Talent Leveraging Robust Scientific and Engineering Expertise 300 250 200 150 100 50 Cumulative Total Returns: EXPO vs. S&P 500 (%) 192.8 56.9 12/29/2017 12/29/2018 12/29/2019 12/29/2020 12/29/2021 12/29/2022 EXPO S&P 500 1 Refer to non-GAAP reconciliation on slide 22 2EBITDA Margin % = EBITDA/Revenues before Reimbursements Exponent Awards & Recognitions INVESTOR'S BUSINESS DAILY BEST ESG COMPANIES ENVIRONMENTAL, SOCIAL & GOVERNANCE CERTIFIED ISO 9001:2015 COMPANY 4#550+ Years of Positioning Exponent and Our Clients for the Future Our ecosystem of knowledge has grown and evolved to help our clients meet the challenges they face Failure Analysis Associates (FaAA) was founded Failure Analysis Associates Expansion: Test and Engineering Center Acquired Environmental Health Strategies and PTI Environmental Services PTI Acquired Novigen Sciences ENVIRONMENTAL SERVICES N NOVIGEN SCIENCES, INC. International Project: Camp Fire, California Project: Toyota unintended acceleration Exponent 1970 1980 1990 2000 2010 2020 Exponent adds new engineering and science disciplines Public Filing/ NASDAQ listing under the ticker "FAIL" Exponent Name changed to Exponent Inc.; ticker Expanded NASDAQ listing updated to presence into Asia Project: Deep Water Horizon explosion, Gulf Coast ticker "EXPO" 5#6Our Global Footprint North America Europe Atlanta Sacramento Edinburgh Austin Seattle Germany Boston Bellevue Seattle Harrogate Maynard Natick SF Bay Area Chicago Chicago Denver Warrenville Menlo Park Oakland Southern California Irvine Ireland London Acton London Nottingham Detroit Los Angeles Pasadena Switzerland Houston Tampa Asia Miami Washington DC Hong Kong New York Washington DC Alexandria Philadelphia Phoenix Bowie Canada Shanghai Singapore Exponent © 2023 Exponent, Inc. | Privileged & Confidential 6#7Why Invest in Exponent? Exponent Strong Growth Momentum Through Safety, Health and Environmental Trends Multidisciplinary Solutions Driven by Data, Speed and Scale Deep Bench of Scientists and Engineers Across Industries and Geographies Scientific Rigor Positions Our Clients Ahead of the Curve Healthy Balance Sheet and Strong Free Cash Flow Generation 7#8Exponent Is in the Center of Global Macro Trends Exponent Safety ค Exponent Environment Health 75 + 8#9Providing a Multidisciplinary Set of Offerings Reactive Understanding the past with the ultimate goal of determining root causes of events Litigation Support • Insurance Investigations • Product Recalls Regulatory Actions Our Evolution 1967 0 Leverage Insights Proactive Empowering our clients to chart a course for the future across a full product life cycle • Risk Management • Design Consulting Product & Process Improvement • Research & Development 0 2022 Exponent Reactive Proactive#10Our World Class Talent Exponent 950+ Consulting Staff 640+ Doctoral-level professionals 50+ Staff working at Universities 35+ Staff serving on editorial review boards/peer reviewers 250+ Standards committees and advisory boards served 1200+ Staff academic articles published 10#11Attracting, Developing and Rewarding Exceptional People with Diverse Backgrounds and Expertise Is Central to Exponent's Mission Outreach Leveraging science, technology, engineering and math (STEM) to empower the communities around us Communication Employee engagement and staff surveys to ensure voices are heard We are striving to embed diversity, equity and inclusion into Exponent's culture Recruiting Sourcing candidates from increasingly diverse backgrounds and skill sets People Development Seminar series, mentoring, and continuing education programs Constantly curating our world class culture and team through a thoughtful recruitment and retention process Exponent 11#12Environmental, Social & Governance ("ESG") Our Commitments Exponent Advancement of Science Diversity and Investment in Our People Safety and the Environment 12#13Exponent How We Make an Impact - X Advancing Science We are committed to objectivity and the advancement of science and supporting clients as they pursue enduring, positive impacts on society. Investing in Our People Attracting, exciting, developing, and rewarding exceptional people with diverse backgrounds and expertise are central to our corporate culture. Safety & the Environment We help clients innovate creatively and sustainably, improve operational resiliency, protect health and safety, and enhance local ecosystems. © 2023 Exponent, Inc. | Privileged & Confidential 13#14Our Bespoke Multidisciplinary Teams Polymers & Biomedical Biomedical Engineering & Sciences Polymer Science & Materials Chemistry Environmental Sciences Ecological & Biological Sciences Environmental & Earth Sciences Mechanical & Thermal Mechanical Engineering Thermal Sciences Transportation Biomechanics Human Factors Vehicle Engineering еме H Projects ווי Exponent Electrical & Data Sciences Data Sciences Electrical Engineering & Computer Science © 2023 Exponent, Inc. | Privileged & Confidential Health Science Chemical Regulation & Food Safety Health Sciences Infrastructure & Materials Buildings & Structures Civil Engineering Construction Consulting Materials & Corrosion Engineering 14#15Diverse Customer Relationships Our Clients Corporate Legal Government |||| Construction 10K 2K FY22 Engagements FY22 Client Count Deep Industry Know-How Chemicals Consumer Products Electronics Energy Food & Beverage Government Sector Industrial & Manufacturing Life Sciences Mining & Forestry & Healthcare Software & Computer Science Transportation Utilities Exponent#16Strong Growth Momentum Through Safety, Health and Environmental Trends Key Drivers/ Trends TRANSPORTATION UTILITIES CONSUMER ELECTRONICS LIFE SCIENCES & HEALTHCARE CHEMICAL I Automation • Aging infrastructure • Product safety and performance ⚫ Digital health • · Electrification • Climate resilience • Pharmaceuticals • • Effects on humans Effects on environment Types of Exponent Solutions • Advanced Driver Assistance System (ADAS) litigation . • Battery performance and safety studies • Asset risk and climate vulnerability studies Augmented and virtual reality • Product recalls/root cause analysis • User experience studies • Medical device litigation • Product design consulting • Regulatory consulting • Toxic tort litigation Exponent 16#17When Getting It Right Matters Exponent harnesses the power of technical excellence, objectivity and disciplinary diversity to solve our clients' toughest science, engineering and business challenges Exponent 17#1818 Financial Highlights i#19Proven Financial Results Revenue ($M) EBITDA Margin 1,2 (%) $600 $513M 32 32 $500 $466M 26.5% 27.3% 27.4% 27.0% $417M $380M $400M $400 $348M 24 $300 16 $200 $100 $0 0 2017 2018 2019 2020 2021 2022 2017 2018 2019 Dividends Paid ($M) 30.4% 29.6% 2020 2021 2022 Free Cash Flow ($M) $118M 60 120 $98M $49M 100 50 $43M $85M $82M $40M $75M 80 40 $34M $63M $27M 60 30 $22M 40 20 20 10 0 2017 2018 2019 2020 2021 2022 2017 2018 2019 2020 2021 2022 1Refer to non-GAAP reconciliation on slide 22 2 EBITDA Margin % = EBITDA/Revenues before Reimbursements Refer to non-GAAP reconciliation on slide Exponent EBITDA/Revenues before 19#20Capital Allocation 2017-2022 Cash Returned to Shareholders: $215M Dividend Payments $311M Repurchased Shares (or ~3.9M shares) Exponent 350 300 Cash and Short Term Investments ($M): 2017-2022 $242.5M 250 $231.6M $208.6M $173.7M 200 150 100 50 $297.7M $161.5M 0 2017 2018 2019 2020 2021 2022 20 20#21Key Metrics - YTD (as of 9/30) ($ Millions, except where noted) YTD as of 9/30/2022 YTD as of 9/30/2023 Revenues Before Reimbursements Revenues EBITDA1 EBITDA Margin² (%) Net Income Earnings per share ($) Average diluted shares outstanding (Millions) % Change 351.2 383.3 9% 385.9 413.9 7% 106.1 107.1 1% 30.2% 27.9% 79.8 79.4 -0.5% 1.52 1.54 1% 52.5 51.7 -2% Billable hours 1,110,591 1,153,227 4% Utilization, technical 75% 70% Realized rate increase 3% 5% Technical full time equivalent employees 943 1,059 12% 1 Refer to non-GAAP reconciliation on slide 22 2EBITDA Margin % = EBITDA/Revenues before Reimbursements Exponent 21#22EBITDAS – YTD (as of 9/30) - ($ Millions) Net Income Add back: Income taxes Interest income, net Depreciation and amortization EBITDA¹ Stock-based compensation EBITDAS¹ YTD as of 9/30/2022 YTD as of 9/30/2023 % Change $79.8 $79.4 -1% 21.9 26.4 21% -0.8 -5.2 n/m 5.2 6.5 25% 106.1 107.1 1% 16.1 17.2 7% $122.2 $124.3 2% 1 EBITDA is a non-GAAP financial measure defined by the Company as net income before income taxes, interest income, depreciation and amortization. EBITDAS is a non-GAAP financial measure defined by the Company as EBITDA before stock-based compensation. The Company regards EBITDA and EBITDAS as useful measures of operating performance and cash flow to complement operating income, net income and other GAAP financial performance measures. Additionally, management believes that EBITDA and EBITDAS provide meaningful comparisons of past, present and future operating results. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position or cash flow that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. These measures, however, should be considered in addition to, and not as a substitute or superior to, operating income, cash flows, or other measures of financial performance prepared in accordance with GAAP. Exponent 22 22#23Key Metrics – Q3 2023 - ($ Millions, except where noted) 2022 2023 % Change Revenues Before Reimbursements Revenues EBITDA¹ 115.1 125.0 9% 127.2 133.3 5% 34.6 34.5 n/m EBITDA Margin² (%) 30.0% 27.6% Net Income 24.4 24.5 n/m Earnings per share ($) 0.47 0.48 Average diluted shares outstanding (Millions) 52.0 51.6 -1% Billable hours 364,894 379,746 4% Utilization, technical 73% 70% Realized rate increase 2% 4% Technical full time equivalent employees 958 1,050 10% 'Refer to non-GAAP reconciliation on slide 23 2EBITDA Margin % = EBITDA/Revenues before Reimbursements Exponent 23#24EBITDAS - Q3 2023 ($ Millions) Net Income Add back: Income taxes Interest income, net Depreciation and amortization EBITDA¹ Stock-based compensation EBITDAS¹ 2022 2023 % Change $24.4 $24.5 n/m 9.0 9.5 5% 0.6 1.9 n/m 1.7 2.4 37% 34.6 34.5 n/m 4.6 4.9 6% $39.2 $39.4 1% ¹EBITDA is a non-GAAP financial measure defined by the Company as net income before income taxes, interest income, depreciation and amortization. EBITDAS is a non-GAAP financial measure defined by the Company as EBITDA before stock-based compensation. The Company regards EBITDA and EBITDAS as useful measures of operating performance and cash flow to complement operating income, net income and other GAAP financial performance measures. Additionally, management believes that EBITDA and EBITDAS provide meaningful comparisons of past, present and future operating results. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position or cash flow that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. These measures, however, should be considered in addition to, and not as a substitute or superior to, operating income, cash flows, or other measures of financial performance prepared in accordance with GAAP. Exponent +4 24#25About Exponent Exponent is the only premium engineering and scientific consulting firm with the depth and breadth of expertise to solve our clients' most profoundly unique and urgent challenges. 1967 50+ Years of Scientific Excellence 90+ Technical Disciplines 950+ Consulting Staff 30+ Offices Across North America, Europe & Asia र Exponent © 2023 Exponent, Inc. | Privileged & Confidential 25 25