#1기기 لا لا ICF Investor Presentation 20 را VICE May 2021#2Cautionary Statement Certain statements made by us in this presentation that are not historical facts or that relate to future plans, events, or performances are forward-looking statements within the meaning of the federal securities laws. Our actual results may differ materially from those expressed in any forward-looking statements made by us. All statements made by us in this presentation are qualified in all respects by the information disclosed in our filings with the Securities and Exchange Commission and specifically, the risks described therein under the heading "Risk Factors". We are under no duty to update or revise any forward-looking statements pursuant to actual results or events, and do not intend to do so. 2#3ICF: A professional + technology services firm VICE Serve a roster of government clients with social + environmental missions, energy utilities + commercial clients Deliver strong cross- cutting capabilities in technology + engagement A growth platform combining organic initiatives + acquisitions Leverage deep domain expertise to achieve superior results for clients Benefit from visibility of a substantial backlog + growth profile of commercial revenues 3#4Synergy in markets + capabilities ICF's work across core service areas including climate, energy efficiency, disaster management, public health and social programs addresses environmental and social issues Energy, Environment + Infrastructure 41% Health + Advisory + Strategy Social Programs 45% Consumer + Financial 6% Safety + Security 8% ICF Based on Q1 2021 TTM financials released on May 4, 2021 Program Management Technology, Analytics + Engagement#5Track record of strong revenue + EPS growth к Revenue: 5-year CAGR 5.9% Non-GAAP EPS: 5-year CAGR 9.6% 5-year CAGRS calculated over 2015-2020 5#6VICE 500 Multiple catalysts for long-term organic growth IT modernization Public health Disaster management Energy efficiency + utility consulting Environment + infrastructure consulting Climate and resiliency ~55% of our 2020 service revenue represented work in these key growth areas, which we expect to grow 10% or more over the next several years#7IT modernization AJK5545001 888 AD-58457-DJ-JK ITG acquisition, completed January 2020, significantly expanded our qualifications in this area 01 Won over $300M in IT modernization contracts in 2020 Current pipeline of qualified opportunities in this market of ~$1.3B* Expect pipeline to increase because IT modernization is a bipartisan priority را ICF * Based on Q1 2021 financial performance released on May 4, 2021 7#8Public health HHS is ICF's largest federal agency client – 17% of total revenues in 2020 ICF has contract vehicles in all federal agencies actively involved in COVID-19 Awarded over $45M of Opportunities in Recovery + Reinvent phases: COVID-19 Response- related work as of Q1 2021 ● Modernization of disease surveillance systems Guidelines for government roles and responsibilities in a pandemic ICF is recognized for deep domain expertise in public health and its expanded IT modernization capabilities い ICF 8#9Disaster management 00 O JL ICF is a leader in disaster management with a long track record of managing post-hurricane federally funded recovery programs New federal funding for mitigation programs provides potential for steady flow of longer-term opportunities Currently running disaster recovery programs in PR, TX post-2017 storms Working on early stage mitigation programs in five states Expect continued growth as already appropriated federal funds are released and new mitigation RFPs are issued ICF's expertise in recovery and resilience is closely aligned with efforts to manage the effects of climate change 9#10Energy efficiency and utility consulting Energy efficiency programs for utilities: State-mandated $60M+ in new awards from CA utilities Utility transformation: distributed energy + grid modernization Majority long-term contracts NV Energy Xcel Energy Focus on Energy Wisconsin ComEd Avangrid DTE Energy Central Hudson Columbia Gas NYSERDA Emissions Reduction Alberta Natural Resources Canada Yukon Energy Environment & Climate Change Canada GasNetworks Canadian Manufacturers and Exporters Pacific Gas & Electric SMUD National Grid BC Hydro Mass Save PSEG Eversource PECO ConEdison Southern California Edison SoCalREN Southern California Gas Company Delmarva Power & Light Home Performance Stakeholder Council Newfoundland Hydro Hydro Quebec Newfoundland Power BGE SMECO PGW Dominion South Carolina New Mexico Duke San Diego Gas Gas Company TNMP & Electric PNM El Paso Electric Energy Entergy Evergy FirstEnergy Pepco Holdings Washington Gas Light Company FortisBC E1 City of Calgary Energy Efficiency Alberta SaskPower Ameren Missouri Salt River Project CenterPoint Energy AEP Texas AEP Public Service Company of Oklahoma Efficiency Manitoba JEA City of Edmonton Toronto Hydro Municipal Climate Change Action Centre Manitoba Hydro Alectra Niagara Peninsula Energy NB Power Independent Electricity System Operator Hydro One Nova Scotia Power Enbridge Hydro Ottawa United States Canada Location of ICF Clients 10#11Biden administration priorities create additional opportunities ● ● Overarching goal of decarbonizing U.S. economy Rejoined Paris Climate Accord Focus on climate change, environmental stewardship, and infrastructure Mandate that climate be considered in every major decision across government ICF is one of the largest full-service climate consulting practices in the U.S., with additional expertise in adjacent services closely connected to climate + infrastructure Climate-adjacent services Disaster mitigation Infrastructure-adjacent services Environment Decarbonization Public health impacts Environmental justice Water Transportation#12We serve a roster of government clients, energy utilities + commercial clients* >80% of revenues from government clients + energy utility clients Provides significant opportunities for expansion US Federal 45% Non-US Government 7% *Based on Q1 2021 TTM financials released on May 4, 2021 US State + Local 14% Commercial 34%** **Includes energy utilities, commercial marketing, + other 12#13We work with a broad array of government clients Government revenues 66% of total revenues* US federal revenues primarily from civilian agencies *Based on Q1 2021 TTM financials released on May 4, 2021 DHHS 18% DOD 6% DOS 5% EPA 3% GSA 2% FCC 1% DOT 1% Other Fed 9% Non-US Government 7% US State + Local 14% Commercial 34%** **Includes energy utilities, commercial marketing, + other 13#14ICF *nex+ ICF Next: our go-to-market brand for digital transformation services Technology Analytics Engagement LES JE Strategy Loyalty Combines creativity of an agency with deep domain expertise of a consultancy Designs solutions that drive real participation with customers, citizens, colleagues Built specifically to realize the benefits of an integrated model 14#15Drivers of long-standing client relationships ICF Institutional memory of government + utility programs Workforce of long-time industry experts Long-term contract vehicles with government + utility clients Proprietary IP/loyalty programs 15#16ICF ICF culture: a source of competitive advantage Purpose To build a more prosperous and resilient world for all. Values Interact with integrity Bring your passion Embrace differences Challenge assumptions Work together Be greater than 16#17At ICF, our business, environmental + social responsibilities are intertwined We create impact through our client work... $615M+ * Revenue from services supporting energy saving, carbon reduction, and natural resource protection programs $670M+* Revenue from services supporting health, education, development, and social justice programs VICE *Together reflect ~85% of 2020 revenue 17#18...and in the way we operate Setting science- based targets to reduce carbon emissions- Net-zero carbon status since 2006 Investing in the communities where we work and live Ensuring value through governance- corporate policies and structure help us operate ethically and in compliance with the law 18#19Corporate citizenship: 2020 performance highlights Investing in our people Making a sustainable commitment Provided opportunities for all employees to develop and advance. Made progress on our carbon reduction goal and remained carbon neutral. Leadership 54% female leaders 38% female board members* 100% net renewable electricity for global operations via renewable energy certificates Pay equity no identified meaningful disparities across races or genders in the same roles 31% reduction in greenhouse gas emissions per employee since 2013 baseline Low turnover 11.7% as compared to 18.6% benchmark Zero net zero carbon status since 2006 due to investments in high- quality carbon offsets راد Supporting important causes Donated to causes important to our employees and $714,000 corporate cash donations communities. Recognition $515,000 employee contributions through our giving program 1 to 1 ICF matched employee donations Climate Leadership: recognized by CDP (global environmental disclosure system) as a corporate pioneer against climate change, scoring A- for the third consecutive year MarCom Awards 2020: 4 platinum awards for corporate citizenship reporting *as of January 2021 19#20Financial Performance#21Track record of consistent revenue + earnings Revenue ($ Millions) EPS $1,507 $1,479 $1,338 ■GAAP EPS ■Non-GAAP Adj.* $1,229 $1,185 $4.15 $4.17 $1,132 $3.73 $3.27 $3.59 $3.18 $2.87 $3.02 $2.87 $2.64 5.9% 5 yr. CAGR $2.40 $2.00 9.6% 5 yr. CAGR -- Non-GAAP 2015 2016 2017 2018 2019 2020 2015 2016 2017 ** 2018 2019 2020 *Non-GAAP EPS: GAAP EPS plus tax-affected impact of acquisition-related charges, special charges, and amortization of intangibles **2017 Non-GAAP EPS excludes the one-time benefit of a Deferred Tax Liability (DTL) revaluation for 2017, as a result of the 2017 Tax Reform Act 21#22Q1 2021 performance Revenue ($ Millions)* $600 EPS* $2.00 $500 $1.50 $400 $378.5 $358.2 $300 $1.00 $0.83 $200 $255.4 $100 $0.50 $279.6 $0.55 $1.13 $0.96 $0 $0.00 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Service Revenue ■GAAP EPS Non-GAAP EPS Service revenue is equal to total revenue less subcontractor and other direct costs excluding direct labor and fringe Non-GAAP EPS: GAAP EPS plus tax-affected impact of acquisition-related charges, special charges, and amortization of intangibles *Based on Q1 2021 financial performance released on May 4, 2021 22 22#23Contract awards ($ Millions)* Book-to-bill ratio (TTM) Q1 2020 1.06 Q1 20211.44 $900 $600 $300 $357 $0 Q1 2020 Backlog ($ Billions)* ■Funded $2.7 $596 $1.4 Q1 2021 *Based on Q1 2021 financial performance released on May 4, 2021 Unfunded $3.0 $1.4 $1.6 $1.3 Q1 2020 Q1 2021 23 23#242021 guidance ltul CON Revenue $1.525B - $1.575B Service revenue $1.095B - $1.130B GAAP EPS Non-GAAP EPS Operating cash flow ~$100M $3.90 - $4.20 * Upper end of range $4.35 - $4.65 5200 4800 VICE * Exclusive of special charges 440.0 400.0 360.0 320.0 24#25Pipeline ($B) راد $7.1 $6.8 $6.8 $6.4 $6.5 $6.5 $6.3 $6.3 $6.0 $5.8 $5.7 $5.5 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Strong pipeline of qualified opportunities, the majority relating to federal government clients 25#26Operating cash flow, 2016 - 2021 $M Dividends ■Debt Repayment + Other ■Share Repurchase ■ CAPEX $173.1 $10.5 $117.2 $100.0 $113.5 $91.4 $80.1 $70.2 $74.7 $10.5 $7.9 $31.9 $51.5 $30.0 $20.5 $27.7 $11.3 $29.7 $10.8 $17.8 $19.3 $25.5 $28.5 $19.4 2016 2017 2018 2019 2020 2021 GUIDANCE* Net Debt $253.3 $194.4 $188.7 $157.8 $289.4 EBITDA $111.9 $111.0 $119.5 $129.6 $122.9 Net Debt/ 2.26x 1.75x 1.58x 1.23x 2.36x EBITDA *Based on Q1 2021 financial performance released on May 4, 2021 26#27Historical cash flow conversion at ~100% $ Millions $200.0 $180.0 $160.0 $140.0 $120.0 93% $101.7 $100.0 91% $83.6 $84.8 $80.1 $80.0 $76.3 $60.0 $40.0 $20.0 $0.0 2015A 2016A 101% 2017A 94% $117.2 $112.9 $100.1 $74.7 2018A 91% $91.4 2019A $106.3 Historical Cash Conversion Net Income Non-Cash Comp Depr & Amort Adj. Net Income Operating Cash Flow (Op CF) Cum. Op CF as % of Adj. Net Inc. 2015A 2016A $39.4 $46.6 $62.9 $61.4 $68.9 $55.0 $10.9 $9.1 $10.3 $11.5 $15.8 $17.6 $33.4 $29.1 $28.6 $27.2 $28.2 $33.7 $83.6 $84.8 $101.7 $100.1 $112.9 $106.3 $76.3 $80.1 $117.2 $74.7 91% 93% 101% 94% 2017A 2018A 2019A 2020A $91.4 91% $173.1 104% 2020A 104% $173.1 105% 100% 95% 90% 85% 80% • Over the past five years, we have had very strong cash conversion of our net income (adjusted for non-cash items) and generated strong Operating Cash Flow........ ..While growing our top line from $1.1B in 2015 to $1.5B in 2020 at a 5.9% CAGR (which required an investment in working capital) • We are generating more cash flow over time, despite timing/volatility across FYS Although 2021 Operating Cash Flow guidance of $100M is below 2020 results, the average operating cash flow for the three years ending 2021 is 34% higher than the average for the previous three-year period 27#28In summary - ICF offers: ICF Distinctive expertise in high-growth sectors of government, energy utility industry + digital transformation Established long-term client and contract relationships + substantial contract backlog Strong environmental, social, + governance performance- internally + for clients All leading to substantial organic growth opportunities and the potential for accretive acquisitions 28#29ICF icf.com in linkedin.com/company/icf-international/ twitter.com/icf f https://www.facebook.com/ThisIsICF/ About ICF ICF (NASDAQ:ICFI) is a global consulting and digital services company with over 7,000 full- and part-time employees, but we are not your typical consultants. At ICF, business analysts and policy specialists work together with digital strategists, data scientists and creatives. We combine unmatched industry expertise with cutting-edge engagement capabilities to help organizations solve their most complex challenges. Since 1969, public and private sector clients have worked with ICF to navigate change and shape the future. Learn more at icf.com.