#12023 SECOND QUARTER QUARTERLY RESULTS PRESENTATION February 2023 Dye & Durham When being certain is everything dyedurham.com#2| DISCLAIMER This presentation has been prepared for informational purposes only. By accepting delivery of this presentation and/or attending the meeting where this presentation is made, you agree: (1) to keep strictly confidential the contents of this presentation and such other information and not to disclose such document, the contents thereof or any such information to any third party; (2) not to copy all or any portion of this presentation, or any such other information; and (3) to return this presentation and all such other documents and information to Dye & Durham Limited (the "Company" or "Dye & Durham") upon its request. Dye & Durham These materials are not, and in no circumstances are they to be construed as, a prospectus, an offering memorandum, an advertisement, or a public offering of securities. In addition, these materials do not form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, or any offer to underwrite or otherwise acquire any securities of the Company or any other securities, nor shall they or any part of them nor the fact of their distribution or communication form the basis of, or be relied on in connection with, any contract, commitment or investment decision in relation thereto, nor does it constitute a recommendation regarding the securities of the Company. No securities regulatory authority or similar authority has reviewed or in any way passed upon the document or the merits of these securities and any representation to the contrary is an offence. No reliance may be placed for any purposes whatsoever on the information contained in these materials or on their completeness. No representation or warranty, express or implied, is given by or on behalf of the Company, any agent of the Company or any of such persons' directors, officers or employees or any other person as to the accuracy or completeness of the information contained in these materials and no liability whatsoever is accepted by the Company, any agent of the Company or any of such persons, directors, officers or employees nor any other person for any loss howsoever arising, directly or indirectly, from any use of such information or otherwise arising in connection therewith. If any recipient of these materials wishes to make an investment in the Company (each such recipient, a "prospective investor"), such prospective investor must rely on their own examination of the Company, including the merits and risks involved. Prospective investors should not construe anything in this presentation as investment, legal or tax advice. Each prospective investor should consult its own investment, legal, tax and other advisers regarding the financial, legal, tax and other aspects of any investment in the Company. Forward-Looking Statements This presentation may contain forward-looking information within the meaning of applicable securities laws, which reflects the Company's current expectations regarding future events, including statements related to the Company's expectations of future results, performance, prospects, the markets in which the Company operates, or about any future intention with regard to the Company's business and acquisition strategy. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management's current beliefs, expectations, estimates and projections regarding future events and operating performance. Forward-looking information is based on a number of assumptions, opinions, and estimates including, but not limited to: (i) Dye & Durham's results of operations will continue as expected, (ii) the Company will continue to effectively execute against its key strategic growth priorities, (iii) the Company will continue to retain and grow its existing customer base and market share, (iv) the Company will be able to take advantage of future prospects and opportunities, and realize on synergies, including with respect of acquisitions, (v) there will be no changes in legislative or regulatory matters that negatively impact the Company's business, (vi) current tax laws will remain in effect and will not be materially changed, (vii) economic conditions will remain relatively stable throughout the period, (viii) the industries Dye & Durham operates in will continue to grow consistent with past experience, and (ix) those assumptions described under the heading "Caution Regarding Forward-Looking Information" in the Company's Management's Discussion and Analysis for the first quarter and year ended September 30, 2022. While these opinions, estimates and assumptions are considered by Dye & Durham to be appropriate and reasonable in the circumstances as of the date of this presentation and given the time period for such projections and targets, they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: that the Company will be unable to effectively execute against its key strategic growth priorities, including in respect of acquisitions; the Company will be unable to continue to retain and grow its existing customer base and market share; risks related to the Company's business and financial position; that Dye & Durham may not be able to accurately predict its rate of growth and profitability; risks related to economic and political uncertainty; income tax related risks; as well as the factors discussed under "Risk Factors" in the Company's most recent annual information form and under the heading "Risks and Uncertainties" in the Company's most recent Management's Discussion and Analysis, which are available on the Company's profile on SEDAR at www.sedar.com. Many of these risks are beyond the Company's control. If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to the Company or that the Company presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information Although the Company bases these forward-looking statements on assumptions that it believes are reasonable when made, the Company cautions investors that forward-looking statements are not guarantees of future performance and that its actual results of operations, financial condition and liquidity and the development of the industry in which it operates may differ materially from those made in or suggested by the forward-looking statements contained in this presentation. In addition, even if the Company's results of operations, financial condition and liquidity and the development of the industry in which it operates are consistent with the forward-looking statements contained in this presentation, those results or developments may not be indicative of results or developments in subsequent periods. No forward-looking statement is a guarantee of future results. Given these risks and uncertainties, investors are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statement that are made in this presentation speaks only as of the date of such statement, and the Company undertakes no obligation to update any forward-looking statements or to publicly announce the results of any revisions to any of those statements to reflect future events or developments, except as required by applicable securities laws. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless specifically expressed as such, and should only be viewed as historical data. All of the forward-looking information contained in this presentation is expressly qualified by the foregoing cautionary statements. Non-IFRS Measures This presentation makes reference to certain non-IFRS financial measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS financial measures by providing further understanding of the Company's results of operations from management's perspective. The Company's definitions of non-IFRS measures may not be the same as the definitions for such measures used by other companies in their reporting. Non-IFRS measures have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of the Company's financial information reported under IFRS. The Company uses non-IFRS financial measures, including "Adjusted EBITDA", and "Adjusted EBITDA Margin" to provide investors with supplemental measures of its operating performance and to eliminate items that have less bearing on operating performance or operating conditions and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures. The Company believes that securities analysts, investors and other interested parties frequently use non-IFRS financial measures in the evaluation of issuers. The Company's management also uses non-IFRS financial measures in order to facilitate operating performance comparisons from period to period. Please see "Cautionary Note Regarding Non-IFRS Measures" and "Select Information and Reconciliation of Non-IFRS Measures" in the Company's most recent Management's Discussion and Analysis, which is available on the Company's profile on SEDAR at www.sedar.com, for further details on certain non-IFRS measures, including relevant reconciliations of each Non-IFRS measure to its most directly comparable IFRS measure, which information is incorporated by reference herein. Certain totals, subtotals and percentages may not reconcile due to rounding. When being certain is everything 2#3| BUSINESS UPDATE Dye & Durham C$479 million and C$264 million of revenue and Adjusted EBITDA¹, respectively, for the LTM period ended December 31, 2022 Despite macroeconomic headwinds in the real estate market and contracted sales activity (38% decline in quarterly YoY Canadian real estate transaction volumes), D&D continues to perform well as a business: о 28% and 25% YoY Revenue and Adjusted EBITDA¹ growth, respectively, for the LTM period ended December 31, 2022 In 2022, D&D management has focused on increasing and growing subscription revenue о A low customer churn rate of 3.9%² C$17.8 million of FTE costs removed from the business since July 1st, on track to exceed 10% cost savings exiting Q3 FY23 C$208.6M in shares repurchased and retired since Oct. 1, 2022, resulting in a reduction of ~20% of shares outstanding A unique opportunity to invest in a scaled and highly profitable technology company, delivering non-discretionary mission critical software Represents a non-IFRS measure. Please see "Non-IFRS Measures". Additional details regarding the reconciliation of Net Income to Adj. EBITDA are available in the appendix. 1. 2. As of December 31, 2022. When being certain is everything / 3#4| D&D AT A GLANCE... Dye & Durham $479 mm LTM Dec 31, 2022 Revenue 28% LTM Dec 31, 2022 YoY Revenue Growth [ ~900 Employees² $264 mm LTM Dec 31, 2022 Adj. EBITDA¹ 55% LTM Dec 31, 2022 Adj. EBITDA Margin¹ ] 60,000+ Customers Note: All figures in CAD unless otherwise noted 1. 2. Practice Management Software D&D's market-leading practice management software lets legal professionals execute every transaction with unmatched reliability, security and ease. The company's digital products are purpose-built to efficiently connect people with assets, and to empower lawyers and their teams to get more done in less time, driving productivity and enabling them to profitably grow their business. Data Insights & Due Diligence D&D aggregates a mix of public records and proprietary data into valuable insights which let legal professionals around the world make key decisions with confidence. Whether evaluating an acquisition, laying the groundwork for a market expansion or performing corporate registrations, the company's software informs strategy and drives certainty of execution. Payments Infrastructure & Banking Technology D&D's payments infrastructure software makes sure that money gets where it needs to go, on time and every time. The company provides the de facto national payment infrastructure in Canada, moving an aggregated value of over 1.3 trillion annually, as well as the capabilities required by financial institutions to conduct complex property settlements Represents a non-IFRS measure. Please see "Non-IFRS Measures". Additional details regarding the reconciliation of Net Income to Adj. EBITDA are available in the appendix Does not include TM Group employees When being certain is everything / 4#5| DELIVERING ON OUR COMMITMENTS October 2018 & July 2020 'what we said' 20% to 25% Revenue & Adj. EBITDA Growth¹ Revenue ($M for the year ending June 30th) 82% 479.4 Revenue CAGR At IPO 20,000+ Number of D&D customers $67M+ Deployed on acquisitions 50%+ EBITDA margin (FY2017-2020) 65.5 32.5 Adjusted EBITDA¹ ($M for the year ending June 30th) 79% Adj. EBITDA¹ CAGR 264.0 Key Updates Since IPO in July 2020: 40,000+ Number of D&D customers added ~$117 Million Organic Adj. EBITDA Growth¹ ~$1.8 Billion Deployed on acquisitions 18 Acquisitions Completed 36.7 19.2 FY18 FY20 LTM Q2 FY23 FY18 FY20 LTM Q2 FY23 Note: All figures in CAD unless otherwise noted 1. Represents a non-IFRS measure. Please see "Non-IFRS Measures". Additional details regarding the reconciliation of Net Income to Adj. EBITDA are available in the appendix When being certain is everything Dye & Durham / 5#6| HISTORICAL REAL ESTATE TRANSACTIONS Canada UK & Ireland¹ Australia Real Estate Transactions (000's) Dye & Durham 666 541 553 456 482 508 515 461 491 500 % Growth Volume 343 5-Yr. (0.6%) 534 10-Yr. 1.0% 517 CY2013 CY2014 CY2015 CY2016 CY2017 CY2018 CY2019 CY2020 CY2021 CY2022 LQA Dec-222 1,328 1,101 1,105 1,111 1,090 1,063 970 1,045 1,124 1,184 933 % Growth Volume 5-Yr. 0.6% 1,097 10-Yr. 2.9% 1,065 CY2013 CY2014 CY2015 CY2016 CY2017 CY2018 CY2019 CY2020 CY2021 CY2022 LQA Dec-222 519 528 522 498 488 440 408 404 615 517 488 % Growth Volume 5-Yr. (0.2%) 486 10-Yr. 2.6% 494 CY2013 CY2014 CY2015 CY2016 CY2017 CY2018 CY2019 CY2020 CY2021 CY2022 LQA Dec-222 Historical Source: Canada - Canadian Real Estate Association (CREA); UK&I - HMRC; Australia - CoreLogic Monthly Housing Chart Pack (estimates); Note: Growth rate and avg. volume based on CY2022 When being certain is everything 1. Reflects volumes for England & Wales only 2. Last Quarter Annualized (LQA) volumes for the three months ended Dec. 31, 2022 6#7| D&D CONSISTENTLY OUTPERFORMS THE REAL ESTATE MARKET Benchmarking YoY Performance - D&D vs. Real Estate Market D&D Revenue D&D Adjusted EBITDA¹ Real Estate Market Performance² 414% 399% 225% 266% • Dye & Durham Commentary Despite recent volatility in the real estate and overall macro environment, D&D has consistently outperformed on both revenue and adjusted EBITDA¹ measures. Key drivers include: ○ Significant revenue uplift through actively managing the business and leveraging various levers such as increasing subscription revenue, pricing optimization, and realignment of product positioning o Diversification of revenue and business segments providing incremental predictability and stability to the business, particularly during periods of market volatility o Discipline cost control by leveraging scale under the global functional operating model o Proactively right sizing the business through operational efficiencies and integrations o Additional tuck-in M&A to further enhance current product offering 78% 78% 54% 53% 7% 3% -3% -8% 7% (7)% (16)% (25)% (20)% (23)% • Q1 FY22 vs. Q2 FY22 vs. Q3 FY22 vs. Q4 FY22 vs. Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY23 vs. Q1 FY22 Q2 FY23 vs. Q2 FY22 D&D has been able to achieve all of the above while maintaining a strong EBITDA margin¹ between 50% and 60% ✓ Outperformed ✓ Outperformed ✓ Outperformed Outperformed Outperformed Outperformed Source: D&D reported financials per SEDAR When being certain is everything 1. 2. Represents a non-IFRS measure. Please see "Non-IFRS Measures". Reflects weighted real estate market performance for Canada, the UK & Ireland, and Australia based on D&D quarterly revenue breakdowns for each respective region / 7#8| ILLUSTRATIVE REVENUE POTENTIAL (CANADA ONLY) . Dye & Durham Following significant market correction in the real estate market globally, D&D is well positioned to benefit from a rebound in market activity and real estate transactions reverting to long term averages Illustrative Market Rebound Revenue Uplift (Canada Only) Canadian Real Estate Market Volume % Change vs. Annualized L6M Market Volume 2 [A] Scenario 1: 10% Market Rebound 432,230 Scenario 2: CY2023 (F) 1 458,273 Scenario 3: 10-Year Average 517,292 Scenario 4: 5-Year Average 534,073 10% 17% 32% 36% Annualized L6M D&D Revenue [B] $453,636,000 $453,636,000 $453,636,000 $453,636,000 Exposure to Canadian Real Estate % 3 [C] 40% 40% 40% 40% Implied Revenue related to Canadian Real Estate 2 [D] = [B] x [C] $182,272,418 $182,272,418 $182,272,418 $182,272,418 % Change vs. Annualized L6M Market Volume [A] 10% 17% 32% 36% Implied Incremental Revenue Uplift [E] = [D] x [A] $18,227,242 $30,308,215 $57,685,443 $65,469,650 Canadian Real Estate Market forecasts sourced from CREA (Sep-22), RBC (Sep-22), TD (Sep-22), and BMO (Dec-22) 1. 2. Last six months (L6M) annualized volumes for the six months ended December 31, 2022 3. Exposure to Canadian Real Estate Market activity based on D&D's revenues for the last six months When being certain is everything Strictly private and confidential for discussion purposes only 8#9| M&A SYNERGY REALIZATION • Since the IPO in July 2020, D&D has deployed a total of ~C$1.8 billion on acquisitions across Canada, UK, Ireland, and Australia Dye & Durham • D&D continues to successfully grow the business through M&A and execute on synergy plans post acquisition, having achieved a blended post synergy adjusted EBITDA multiple of ~7.8x1 • Macroeconomic headwinds in recent months have negatively impacted business performance leading to a slightly expanded multiple Adjusted EBITDA Growth since IPO (C$ mm) Post-synergistic Performance on Capital Deployed Since IPO (C$ mm) $117 $264 17x from $1,800 16.4x $1,350 ~C$1.8 bn Capital deployed 14x since IPO ~$40 At IPO $106 down to ~7.8x' 1 $900 $450 In only 30 months Acquired Adj. Organic Adj. EBITDA EBITDA² Growth LTM Dec-22 Adj. EBITDA 1. 2. Illustrative multiple only; calculated as aggregate consideration of all acquisitions since IPO / Incremental EBITDA since IPO (LTM Dec-22 Adj. EBITDA less Adj. EBITDA at IPO) Does not include recent acquisitions completed on December 13, 2022 and January 19, 2023 given immaterial EBITDA contribution When being certain is everything 11x ~7.8x Post synergy Adj. EBITDA multiple¹ 8x 5x Q1 FY21 Q2 Q3 FY21 FY21 FY21 FY22 Q4 Q1 Q2 FY22 Q3 Q4 Q1 Q2 FY22 FY22 FY23 FY23 Aggregate Consideration Illustrative EBITDA Multiple Strictly private and confidential for discussion purposes only 9#10| DISCIPLINED COST MANAGEMENT AND EXECUTING ON SYNERGIES Dye & Durham Performance Commentary Given the timing of the headcount reductions in the quarter, we expect an additional $5M annual (or $1.3M per quarter) of additional salary savings Based on the cost savings actions taken to date, we expect to exceed the overall target of at 10% cost savings Total Operating Expense Bridge (C$M) 1 1. $56.1M $54.5M ($1.6M) $1.2M $55.7M ITT $49.1M ($6.6M) ($1.3M) Operating Expensess Net Change Q3 FY 2022 in Cost Operating Expensess Q4 FY 2022 (Savings) Net Change in Cost (Savings) Operating Expensess Q1 FY 2023 Net Change Operating Expensess Q2 FY 2023 Incremental Salary Savings in Cost (Savings) Based on reported figures, total operating expense is a non-GAAP measure that excludes stock-based compensation, financing costs, Amortization & Depreciation, acquisition, restructuring and other costs. When being certain is everything Strictly private and confidential for discussion purposes only / 10#11| D&D GROWTH OPPORTUNITIES AND PRIORITIES 1 . 3 Increase Subscription Revenue 4 Dye & Durham Continue Executing on M&A Strategy • Continue leveraging robust and National Roll Out of REX Leveraging current success of the REX platform in Quebec, D&D is working on rolling out this capability nationally The REX platform will be Canada's only platform that has the capability to facilitate secured movement of data and payments in a real estate transactions across multiple stakeholders 2 Real Estate Rebound • • Expectation of mean reversion across global real estate activities presents significant revenue opportunity for D&D following a period of significant pressure due to various macroeconomics factors ~ 1/3 of D&D revenue is not related to the real estate market, providing additional stability to revenue and cash flow generation Continue optimizing current product positioning and pricing to drive additional subscription and recurring revenue Along with the mission critical nature of our platforms, the subscription revenue model further enhances customer stickiness while providing certainty and predictability to revenue • • proven M&A strategy to acquire complementary products and businesses Further expand and build robust product offerings through tuck-in M&A Create additional value through operational efficiencies When being certain is everything /11#12HISTORICAL ANNUAL PERFORMANCE Revenue (C$ mm) 474.8 479.4 208.9 ...ll 43.8 65.5 Adjusted EBITDA¹ (C$ mm) 36.7 26.4 116.4 266.9 264.0 FY 19 FY 20 FY 21 FY 22 Q2 FY23 LTM FY 19 FY 20 FY 21 FY 22 Q2 FY23 LTM 1. Adjusted EBITDA is non-IFRS measures. Please see "Non-IFRS Measures". When being certain is everything Dye & Durham Strictly private and confidential for discussion purposes only / 12#13| QUARTERLY FINANCIALS Performance Commentary Revenue and Adjusted EBITDA compression were driven by the slowdown in real estate transaction volumes over the last 12 months 33.7 68.9 84.4 Revenue (C$ mm) Adjusted EBITDA¹ (C$ mm) 129.7 122.9 120.2 112.6 109.6 106.7 58% 58% 57% 55% 55% 54% 54% 54% 51% 17.1 75.2 66.8 64.4 62.4 62.6 57.6 49.1 37.6 Dye & Durham Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 1. Adjusted EBITDA is non-IFRS measures. Please see "Non-IFRS Measures". When being certain is everything Strictly private and confidential for discussion purposes only / 13#14| BALANCE SHEET OVERVIEW Available Liquidity (C$ mm) Leverage Ratio (C$ mm) As of December 31 Cash 2022 As of December 31 2022 35 Total Debt Outstanding 945 Revolving Credit Facility 35 (-) Cash 35 Delayed Draw Term Loan Total 200 (-) Assets Available for Sale 143 $270 Net Debt $767 Consensus FY23 Adj. EBITDA¹ Net Debt/Adj. EBITDA¹ $268 2.9x 1. Adjusted EBITDA is a non-IFRS measures. Please see "Non-IFRS Measures", excludes $345 million convertible which are settleable in shares or cash at the Company's right in 2026. When being certain is everything Dye & Durham Strictly private and confidential for discussion purposes only / 14#15IRELAND AUSTRALIA KINGDOM UNITED CANADA When being certain is everything 5#16| ADJUSTED EBITDA RECONCILIATION (C$ 000's) Income for the period Amortization and depreciation Finance costs, net Income tax expense (recovery) EBITDA¹ Stock-based compensation² Acquisition, restructuring and other costs³ Adjusted EBITDA¹ Net Income to Adjusted EBITDA Three months ended Dec. 31, Six months ended Dec. 31, Dye & Durham 2022 $ 2021 $ 2022 $ 2021 $ (34,818) (3,976) (46,317) 18,122 39,041 26,914 77,389 57,874 38,425 22,311 54,613 9,712 (8,705) (925) (11,096) 6,725 33,943 44,324 74,589 92,433 8,044 8,525 13,362 12,130 15,589 9,762 34,072 20,405 57,576 62,611 122,023 124,968 1) 2) 3) EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin are not recognized measures under IFRS. See "Cautionary Note Regarding Non-IFRS Measures". Stock-based compensation represents non-cash expenditures recognized in connection with stock options issued to employees and directors and cash settled share appreciation rights issued to directors. Acquisition, restructuring and other costs relates to professional fees and integration costs incurred in connection with acquisition, listing and reorganization related expenses. When being certain is everything / 16#17When being certain is everything BrighterHub SMARTER, FASTER & BRIGHTER CONVEYANCING 17