#112/15/2021 |||||BRINKS HOME™ Investor Presentation December 2021 Create profitable accounts at scale for life Confidential | Page 1#2TM |||||BRINKS HOME™ Forward Looking Statements This presentation includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about business strategies, market potential and expansion, the success of new products and services, the launch of Brinks Home's consumer financing solution; the anticipated benefits of the Brinks Home's rebranding; customer retention; account creation and related cost; anticipated account generation; future financial performance; any refinancing of our existing indebtedness; recovery of insurance proceeds and other matters that are not historical facts. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, possible changes in market acceptance of our services, technological innovations in the alarm monitoring industry, competitive issues, continued access to capital on terms acceptable to us, our ability to capitalize on acquisition opportunities, general market and economic conditions, including global economic concerns due to the COVID-19 outbreak, and changes in law and government regulations. These forward-looking statements speak only as of the date of this presentation, and we expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Please refer to the publicly filed documents of Monitronics International, Inc., including the most recent Forms 10-K, and our documents filed on the Company's data site, for additional information about us and about the risks and uncertainties related to our business which may affect the statements made in this presentation. These materials are provided for information purposes only and do not constitute or form part of, any offer or invitation to underwrite, subscribe for or otherwise acquire or dispose of any of our securities of those of our affiliates. These materials should not be considered as a recommendation that any investor should subscribe for or purchase any securities. Any such offer would be made pursuant to separate and distinct documentation in the form of a private placement memorandum, offering circular, subscription agreement or other equivalent offering document and any decision to purchase or subscribe for any securities pursuant to such offer should be made solely on the basis of such offering document and not these materials. These materials may not be relied upon for the entering into of any transaction. All recipients agree that they will keep confidential all information contained herein and not already in the public domain and will use this presentation solely for evaluation purposes. Recipient will maintain all such information in strict confidence, including in strict accordance with any underlying contractual obligations and all applicable laws, including United States federal and state securities laws. Nothing contained herein should be construed as legal, business or tax advice. This presentation has been prepared by the Company and includes market data and other statistical information from sources believed by it to be reliable, including independent industry publications, government publications or other published independent sources. Some data are also based on the Company's good faith estimates, which are derived from its review of internal sources as well as the independent sources described above. Although the Company believes these sources are reliable, it has not independently verified the information and cannot guarantee its accuracy and completeness. Non-GAAP Measures These materials include certain financial measures not presented in accordance with generally accepted accounting principles ("GAAP") including, but not limited to, adjusted EBITDA, Free Cash Flow, and certain metrics derived therefrom, which may differ from such calculations made by other companies. These non-GAAP financial measures are not measures of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing our financial results. Therefore, these measures should not be considered in isolation, and users of any such information should not place undue reliance thereon. See the appendix to this presentation for more information on these non-GAAP measures.#3Table of Contents 1. Introduction 2. Company Overview 3. 4. 5. Investment Highlights Operational and Financial Overview Appendix |||||BRINKS HOME#412/15/2021 1 Introduction Create profitable accounts at scale for life Confidential | Page 4#5Today's Speakers 2 William Niles Chief Executive Officer Fred Graffam Chief Financial Officer |||||BRINKS HOME 5#62 Company Overview#7Brinks Home is a Leading Provider of Smart Home Security Strong Market Presence ■ Top 3 smart home security provider¹ ○ Strong growth opportunity with only ~2% market share¹ today in a fragmented $65bn smart home security market growing 6% per annum Nationally recognized brand closely identified with safety and security Spectrum of Product Offerings Connected Home Smart Security Life Safety & Access Control II ■ High quality, national subscriber base across all 50 states, Puerto Rico and Canada |||||BRINKS HOME ■ Diverse and expanding sales channels: o Leading Independent Dealer network and growing Authorized Rep program o DTC Phone Sales with developing Field Sales and Authorized Partner capabilities ■ Extensive suite of new technologies and services to meet customers' evolving demands, including a focus on home automation Platinum Grade Protection ■ 24x7 Central Monitoring with back-up capabilities ■ 24x7 Call Center ■ 1,100+ Customer Facing Employees ■ Number of High Priority Operator-Handled Alarms YTD2: ~1,385,000 ■ Number of times law enforcement, the fire department, or ambulances were notified YTD2: ~252,000 Սլ BEST-IN-STATE CUSTOMER The Monitoring Association SERVICE 2020 FIVE DIAMOND MONITORING Newsweek statista CENTER (1) Barnes Associates - Security Alarm Industry (2) Overview - February 2020. Market share by RMR. Year to date through September 30th 2021. Create Profitable Accounts @ Scale and hold for life 7#8Brinks Home is Built with a Differentiated Go-To-Market Strategy... Premium Brand - · Up market brand proposition supported by best-in-class integrator and service provider - Attractive blend of core security and innovative connected home solutions Seamless platform simplifies the smart home experience Digital tech and Data Analytics - Deploying AI/ML across the organization for tech enabled business support Enterprise data platform to track entire customer journey - Data enabled, real-time, business decisions to unlock value and reduce cost to serve Create Profitable Accounts @ Scale and hold for life |||||BRINKS HOME Customer Centric Model Proactive focus on providing platinum grade protection to the customers - Industry leading customer lifecycle management Micro-segmentation of customer base enables targeted services and personalized offers Complementary Channels Direct to Consumer focus engages the customer the way they want to interact - Reinvigorated Dealer network structured to align financial interests - Opportunistic bulk purchases to accelerate scale 8#9The 2023 Vision Restructuring for Success Completed financial recapitalization on August 30, 2019 ✓ Strengthened balance sheet by eliminating over $800mm of debt Investment in Core Business ✓ Sales and service platform investments ✓ Establish a Transformation Office Re-tool Management Team Strengthening the Foundation ✓ Capital efficient core subscriber and revenue growth ✓ Establish brand proposition and GTM strategy 2021 Deliver Sustainable Results ✓ Scaling profitable core unit production Operating efficiencies with margin expansion 2022 Premium Brand Status ✓ Customer centric brand with reimagined commercial engine ✓ Sustainable and profitable growth ✓ Optimal cost structure underpinning free cash generation 2023 2019 2020 Create Profitable Accounts @ Scale and hold for life |||||BRINKS HOME 9#10... Underpinned by a Strong, High-Quality, Revenue Base LTM Net Revenue $ in millions Highly Recurring % of LTM Net Revenue EOP1 Subscribers # in thousands |||||BRINKS HOME EOP ARPU 2 $ 529 93 873 45 Avg. Subscriber Life Years RMR Attrition Improvement Core YoY LTM Pre-SAC Adjusted EBITDA Margin %3 % of Revenue 7.8 500 bps 49 Figures are for Q3 2021 or LTM 9/30/2021 unless otherwise noted Note: (1) EOP: End of Period (2) (3) Average revenue per user Pre-SAC Adjusted EBITDA defined as EBITDA plus expensed subscriber acquisition costs plus one-off adjustments (ex: 3G expense) 10 10#1111 14 Brinks Home Strategy Changes Under New Management |||||BRINKS HOME When the new Board of Directors appointed William Niles as CEO in February 2020, the company replaced a majority of existing executives and embarked on a new strategic path for the Company 'Old Brinks Home Security' ■ Ownership / Management ○ Brinks Home was formerly a publicly traded company with a Management team focused on growth at the expense of Unit economics Board unwilling to adapt business model to changing Smart Home environment o Undisciplined M&A strategy led to over-levered balance sheet Brand Strategy ○ No cohesive brand strategy, lack of strategic roadmap o Focus on intrusion and safety Go-to-market strategy / Customer engagement О Dealer-centric model with inconsistent brand standards and high creation multiples ○ Single threaded approach to marketing primarily focused on Google leads o Ineffective Direct to Consumer sales force with low lead conversion rates selling low-cost DIY product with unprofitable unit economics o Customer lifecycle management largely a "don't touch the end customer" philosophy ☐ Dated M&A Strategy • Bulk acquisitions were paid for with large upfront payments resulting in a high degree of attrition risk (no risk sharing mechanism in place) о Purchased Security Networks for gross proceeds of $508 million or ~57.7x RMR О Purchased Livewatch Security for gross proceeds of $67 million or ~74.4x RMR 'New Brinks Home' ■ Ownership / Management о Private company with a majority controlled by two large shareholders with Board representation designed to maximize value for all stakeholders ○ New Board with deep industry and capital markets experience o Transformation Office established that sets strict IRR and NPV hurdles for key strategic decisions o Replaced or reassigned most of the executive team Brand Strategy o Focused on a Premium Smart Home experience enabling larger package sizes and higher RMR per customer ○ Leveraging technology and machine learning to differentiate go to market, retention and customer service Go-to-market strategy / Customer engagement O Multi-channel focus with a long-term goal of a 50/50 split of a brand-centric dealer channel and healthy Direct to Consumer phone and field teams - all working in harmony to maximize the impact of each customer sales opportunity ○ Multi-tactic marketing strategy (digital/radio/TV/mail) - leveraging a best-in class digital marketing firm to generate more effective leads Direct to Consumer sales force with strong lead closing ability enabling internal sales channels to scale profitably • Emphasis on using Advanced Al and machine learning to engage with customer to maximize customer lifetime value Opportunistic M&A Strategy ○ M&A strategy focused on low risk/high value transactions Bulk buy transactions structured with small upfront payments and ~50-month earnouts to share and mitigate attrition risk o Completed two bulk buy transactions for ~$6.6mm in RMR and over 150k subscriber accounts with minimal leverage on the balance sheet o Further, obtained the exclusive right to convert ~190k AT&T Digital Life customers to Brinks Home with modest upfront cost and low risk earnout model#12|||||BRINKS HOME Brinks Home Strategy Changes Under New Management (cont'd) New Management has led to clear improvements in core KPI's and the Company's financial strength EOP subscribers & RMR 'Old Brinks' (1) Management chased growth with escalated creation multiples resulting in poor unit economics Attrition elevated due to low liquidity and limited retention investment RMR relatively consistent under previous and new Management, highlighting the stability of the industry 'New Brinks'(2) Focus on Profitable growth ■ Scaling customer additions through both Dealer and DTC channels Used bulk strategy and AT&T leads to build a bridge as customer additions scale ARPU ■ Dealer ARPU higher than Direct to Consumer due to professional installation and equipment subsidization Direct to Consumer ARPU in mid $30's as prior management was focused on DIY rather than professional installation. Without a holistic consumer financing option customers purchase smaller equipment packages at lower ARPU's Overpaying for dealer generated subscribers with creation multiples averaging 36x+ leading up to filing Creation multiples DTC creation multiples elevated due to poor lead conversion ■ " ■ New contracted multiples incent higher dealer ARPU Re-focused DTC package on professional installation (ARPU > $45 more recently) and offering non-recourse, subsidized 0% financing which has translated into materially higher average ticket prices (north of $900 in the most recent month) Substantial upside for ARPU and ticket size as consumer financing adoption grows Negotiated an up to 6x reduction to the largest dealer accounts comprising ~50% of the channel volume Expected to reduce Dealer multiple for these accounts into the mid-32x's, to be fully implemented by Q1'22 - Each 1x of creation multiple reduction results in ~100bps of IRR improvement While DTC Channel is still scaling, Management's clear vision and improved internal sales metrics expected to result in lower creation multiples for the channel Attrition RMR and core unit attrition topped out at ~17-18% as prior Management lacked discipline when acquiring accounts and didn't utilize technology effectively to predict accounts at risk Balance sheet Over levered the balance sheet with $1.8bn+ in debt by pursuing an aggressive account acquisition strategy Gross debt / Adj. EBITDA leverage of 6.3x and Total debt/ RMR of 43.5x at the end of 2018 1: Q2 2019 unless noted otherwise 2: Q3 2021 unless noted otherwise ■ RMR and core unit attrition have both been reduced over 300bps to ~13-14% under new Management team - A new account often has 15-20% IRR while an extended account has 40%+ IRR's so meaningful impact to the bottom line More disciplined account acquisition strategy that has been focused on small upfront payments, risk sharing and not overburdening the Company's balance sheet Gross debt / Adj. EBITDA leverage of 4.5x and Total debt/ RMR of 26.1x at the end of Q3'21 12 22#13Strengthening the Foundation - Value creation through improved unit economics, attrition, balance sheet and talent |||||BRINKS HOME Adds • AT&T activations of 5,531 • • • • lead to a strong quarter with sequential account production up 37% and up 10% YoY RMR created in the quarter is up 32% sequentially and up 18% YoY While DTC sales were up 22% sequentially, activations of 3,010 were down QoQ due to installation backlog Dealer Adds up sequentially, down YoY, with substantially better unit economics DTC Inside sales pivot from -30% DIFM in Q320 to 97% in Q321 Re-energized dealer recruiting with improving pipeline; two dealers added to the channel in Q3. Armor Security signed in October. Attrition • Unit attrition at 14.3%, • 110 bps improvement YoY RMR attrition improvement to 12.7%, a 500 bps improvement YoY and a 130 bps sequential quarterly improvement 120k Earnout subscribers as of Q321, in line with expectations • Balance Sheet/CTS Pre-SAC Opex improved $0.4M sequentially from Q2, normally a higher quarter due to seasonality BHS Techs completed 31.8K jobs in the quarter or 52.9% of total jobs, a 43.5% improvement compared to Q320. BHS Tech's expense per job is 25% or $70 less per job vs Service Dealers Q3 Levered FCF was ($17.1m) due to inventory ramp for Dispatch/3G, increased DTC creation spend and timing of insurance renewals. Favorable contract renewal with largest interactive services provider, expect to realize in excess of $3m of volume discounts in 2022 • • Unit Economics Continued improvement in Network Channel (Dealer and Auth Rep) economics with a sequential multiple improvement of .5x turns to 33.8x and a 2.6x improvement over Q320 Enhanced consumer financing re-launched in Q3 in DTC phone channel with goal to launch DTC field channel in Q4 Q3 DTC Inside Sales new account ARPU at $49, up 20% from PY; average ticket price ("ATP") of -$900, up 41% from prior year DTC multiples elevated as benefits of recently reinitiated marketing not fully realized in Q3 Scaling the business Customer centric offers driving down attrition Positioning the Balance Sheet for refinance Create Profitable Accounts @ Scale and hold for life Stabilize the core, diversify the sales engine 13 33#1412/15/2021 3 Investment Highlights Create profitable accounts at scale for life Confidential | Page 14#15Focused on Protecting the Core and Driving Profitable Growth 1 Premium, Nationally Recognized Brand with Significant Scale in a Growing Market |||||BRINKS HOME ||||BRINKS HOME™ 6 2 Retooled Management Team Positioning the Business for Success сл 5 3 Recurring Revenue Model with Exemplary Customer Profile 4 Strong Margins with Credible Path to Sequential Improvements Improving Customer RMR, Unit Attrition, and Retention Capital Efficient Growth Strategy 7 Prudent Financial Policy 15#16|||||BRINKS HOME 1 Premium, Nationally Recognized Brand with Significant Scale in a Growing Market Market Overview ■ $65bn US home security market¹ growing at 6% per annum¹...with increasing complexity as consumers demand smart home integration ■ DIFM is expected to represent 76% of the market1 ○ DIY competitors mostly expand the market¹ for new entrants rather than erode market share from incumbents. Brinks is not targeting these same customers ■ Brand reputation, service, and innovation are key success drivers Future State of Play: A Truly Connected Home Security Devices: Smart Lock Q Indoor/Outdoor Camera Video Doorbell 日 A W SS Home Automation: Smart Lock Smart Light bulb A Smart Control Panel Smart App Changing Dynamics Favorable for Brinks ■ As home automation matures, customer experience and increased service offerings will become more critical ■ Differentiated platforms that successfully integrate products and services will command a premium price point ■ Price competition is expected to continue in basic DIY security, but consumers are still willing to pay for premium services or a compelling value proposition Success in the premium value segment will be led by players such as Brinks Home, ADT, and Vivint as Smart Home Automation and Security drives need for professional installation ss Motion Sensor Smoke Detector Door/Window Sensor Glass break sensor Cameras: Indoor/Outdoor Camera 12 Smart Thermostat Video Doorbell Smart Plug Water Sensor (1) Barnes Associates - Security Alarm Industry Overview - February 2020 16#17|||||BRINKS HOME 1 Premium, Nationally Recognized Brand with Significant Scale in a Growing Market Large Core Security Market with Consistent Growth (Total Market Revenue, $ in millions) 2014A 2019A CAGR 7% 2014A 2019A CAGR 5% - $58 $61 $65 Home Automation Accelerated Growth Opportunity (Total Market Revenue, $ in millions) $55 $52 $49 $46 $44 $44 $43 $32 $30 $29 $27 $25 $23 $17 $18 $21 $19 $27 $26 $24 $25 $26 $27 $28 $29 31 $31 $33 $26 $24 2014A-2021E CAGR 12% $41 $38 $34 $31 $47 $53 2010A 2011A 2012A 2013A 2014A 2015A 2016A 2017A 2018A 2019A 2014A 2015A 2016A 2017A 2018A 2019A 2020E 2021E Install & Other Revenue ■Monitoring and Service Revenue ■Market Sales Source: Barnes Associates - Security Alarm Industry Overview - February 2020. Barnes Reports - 2020 Global High Tech & Emerging Markets, Smart Home 17#182 Retooled Management Team and Optimized Organization Structure |||||BRINKS HOME William Niles CEO Fred Graffam CFO Kelly Atkinson CCO Bob Reedy COO Dinesh Kalwani Chief People Officer Jason Chancellor CIO Sara Harshbarger Chief Transformation Officer ■ 30 years of experience in business and corporate law including deep domain expertise in the security and connected home industry ■ Prior to joining Brinks Home, Niles served as Chief Executive Officer of Ascent Capital Group and as co managing director and general counsel of Ascent Media Group ■ University of Southern California and Georgetown Law ■ 25+ years of financial management experience in the technology and telecom industries with a particular focus on accounting, FP&A, investor relations and M&A ■ Prior to joining Brinks Home, Fred served for 4 years as the SVP of Finance, Investor Relations and Corporate Development for Digital Globe and spent 17 years with Comcast Corporation in various finance and operations roles ■ CPA, Alfred Lerner College of Business at the University of Delaware ☐ Kelly Atkinson joined Brinks Home in March of 2021 with over two decades of experience working with Fortune 500 companies to drive growth and improve the customer lifecycle. ■ Most recently, Kelly was at Charter Communications, where she was Head of Marketing for Consumer and SMB. She oversaw Charter's digital sales channel, which was the second-largest channel for the company. ■ University of Villanova ■ 20+ years experience in the telecommunications industry with a strong background in operational transformation, process automation, strategy, and sales integration ■ Prior to Brinks Home, Bob was Vice President of Operational Transformation at CenturyLink and Vice President Enterprise Applications & IT Strategic Programs at Windstream ■ Kent State University ■ 12+ years of sales and customer operations experience in software, logistics, and IOT enterprises ■ Prior to joining Brinks Home, Dinesh was Vice President of Business Intelligence and Systems at Omnitracs. ■ University of Virginia and MBA from The University of Chicago Booth School of Business ■ Joined Brinks Home in 2016; 15+ years of enterprise IT experience ■ Prior to joining BHS, Jason served as an IT executive for CBRE for 4 years and led IT organizations at other Fortune 500 companies ■ University of Texas ■ Sara Harshbarger joined Brinks Home Security in May 2020 with over 15 years of experience in organizational design, strategy, revenue design, and the customer journey. ■ Prior to joining Brinks Home, Sara was a Principal at Valent Partners, a consulting firm which she co-founded, prior to that she was with Pariveda Solutions, IT Convergence, and Curvature. ■ University of California, Santa Barbara, and MBA from the University of Texas 18#192 Board of Directors Brings High Level of Expertise and Experience Michael Kneeland Chairman ■ Most recently served as CEO of United Rentals, and is currently Chairman at United Rentals ■ Also serves as Chairman at Maxim Crane, and as a Director at America Tire Distributors and at the Anticimex Group |||||BRINKS HOME Dick Seger Director Stephen Escudier Director Mitchell Etess Director Michael Meyers Director Patrick Bartels Director Steve Gribbon Observer ■ Founded Securitas Direct Verisure and served as CEO Currently serves as an industrial advisor to EQT ■ Serves as a Director at the Anticimex Group ■Linköping University, Technology and Business Administration ■ Partner and Co-Head of Credit Opportunities at Bridgepoint ■ Previously held positions at EQT, Apollo, and Morgan Stanley Imperial College of Science, Technology and Medicine ■ Most recently served as CEO of Mohegan Gaming & Entertainment ■ Held various previous positions in the gaming, hospitality, and advisory industries, including at Trump Plaza Hotel and Casino and Players Island ■ Columbia College ■ Currently serves as Executive Partner at Ethos Capital, as board member of MobileHelp, and as adjunct professor at TCU Previously served as SVP and CFO of Ascent, and prior to that as CFO of Monitronics ■ CPA, Southern Methodist University, MBA at University of Texas at Austin ■ Currently serves as Managing Member and Founder of Redan Advisors LLC, and on the boards of Arch Coal Inc. and Hexion Inc. ■ Has over 20+ years of investment professional experience, including positions at Monarch Alternative Capital, Invesco, and Pricewaterhouse Coopers ■ CFA, CPA, Bucknell University ■ Most recently served as EVP of Sales and Marketing at ADT North America, where he worked for 25 years Previously held positions as EVP of Sales and CRO of iControl Networks, and as EVP of Sales at Enlighted Inc. ■ University of North Carolina 19 19#20|||||BRINKS HOME 3 Recurring Revenue Model with Exemplary Customer Profile Long-Term Customer Contracts¹... 12 - 36 Months 62% < 12 Months 14% 50+ Months 21% 37 - 50 Months 3% ...With Outstanding Credit Quality1,2 600 - 649 14% 650 - 674 10% 675-699 11% < 600 2% Credit Quality Over Last 3 Years 2% 2% > 750 2% 41% 14% 14% 14% 10% 10% 10% ■ <600 11% 11% 11% ■600-649 22% 22% ■650-674 ■675-699 ■700-750 41% 41% 41% ■>750 22% O III 700-750 22% 2019 2020 2021 Geographically Diverse Customers1... TX 16% Other 39% ...Sourced Through Multiple Channels Direct 12% Select Bulk 4% Well positioned in large and growing population PA Bulk 10% CA 12% centers FL 7% AZ SC 3% TN 5% 3% NV OH NC GA 3% 3% 4% 4% Note: Data as of September 2021 (1) Excludes Select Bulk (2) Includes scored accounts only Dealer 74% 20 20#21|||||BRINKS HOME 3 Business Model Built on Predictable, Recurring Cash Flows with Strong Returns "Per Unit" Illustrative Cash Flows ($ in millions) Future cash flows include monthly billings (RMR), less the cost to serve the subscriber, and include customer attrition ■Dealer ■DTC Pay in Full ■DTC Consumer Financing $475 $489 $453 $358 $374 $350 $366 $321 $336 $336 $234 $245 $262 $180 $188 $216 $146 $152 $181 $120 $125 $154 $101 $105 ($1,209) ($1,350) ($1,788) Subscriber Acquisition Costs (SAC) Time 0 Year 1 Year 2 Year 3 Year 4 Year 5 $515 $324 $290 Year 6 Year 7 Year 8 Terminal Scenario ARPU Creation Multiple Revenue Payback¹ (Years) EBITDA Breakeven IRR2 (Years) Dealer $55.00 32.5x 2.7 4.2 16.9% DTC Pay in Full $45.00 30.0x 2.5 4.5 14.0% DTC Consumer Financing $46.50 26.0x 2.2 3.5 20.7% (1) For industry comparability, Revenue Payback is calculated as Creation Multiple divided by 12. (2) IRR calculated using monthly cash flow detail not shown here. 21 21#224 Strong Margins with Credible Path to Sequential Improvements Pre-SAC Adjusted EBITDA Margin 62% 61% 59% 57% 56% 54% 54% 50% 50% 50% 47% II Q1 Q2 Q3 Q4 Q1 2019 2019 2019 2019 2020 Q2 Q3 2020 2020 Q4 Q1 2020 2021 Q2 Q3 2021 2021 Adjusted EBITDA Margin 57% 53% 52% 53% 52% 49% 48% 48% 44% 43% 36% Q1 Q2 Q3 Q4 Q1 2019 2019 2019 2019 2020 Q2 Q3 2020 2020 Q4 2020 Q1 Q2 Q3 2021 2021 2021 Note: See Appendix for reconciliation from Net Income to Adjusted EBITDA |||||BRINKS HOME Commentary ■ Subscriber Acquisition Costs (SAC) are costs related to acquiring customers and include direct costs (principally marketing and labor) related to the DTC channel and acquisition costs to acquire customers in the Dealer channel ■ SAC is either expensed or capitalized depending on whether the account is acquired through the DTC or Dealer channel ■ Pre-SAC EBITDA removes the volatility associated with expensed SAC and therefore reflects the underlying cost to serve existing customers ■ Brinks focuses on improving pre-SAC EBITDA margins by operating more efficiently with its existing customer base, which allows for additional investment in DTC growth Declining adjusted EBITDA margins in recent quarters largely reflect increased investment in the DTC channel and investments in business intelligence and analytics that reduce cost to serve and drive profitable unit growth o Pre-SAC Margins continue to be robust 22 22#235 Improving Customer RMR and Unit Attrition ~500bps Decrease in Core RMR Attrition¹ YoY 17.0% 17.5% 17.6% 17.9% 17.8% 18.0% 17.7% 15.5% 14.8% 14.0% 12.7% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2019 2019 2019 2019 2020 2020 2020 2020 Q1 Q2 Q3 2021 2021 2021 ~110bps Decrease in Core Unit Attrition¹ YoY H 17.5% 17.6% 17.3% 17.0% 16.6% 16.0% 15.4% 14.9% 14.4% 14.3% 14.3% Q1 2019 Q2 Q3 Q4 Q1 2019 2019 2019 2020 Q2 2020 Q3 2020 Q4 Q1 Q2 Q3 2020 2021 2021 2021 Note: (1) See Appendix for reconciliation from Net Income to Adjusted EBITDA Core Unit Attrition excludes Protect America and Select Security subscribers |||||BRINKS HOME Commentary ■ Core focus on unit economics, scaling, and enhancing the customer experience, which drives decreases in Core RMR and Unit Attrition ■ Continued reduction in core RMR attrition at 12.7%, a 500bps improvement YoY and 130bps sequentially (see next page for how Brinks Home has achieved this) ■Continued reduction in core unit attrition at 14.3%, a 110bps improvement YoY and flat sequentially (see next page for how Brinks Home has achieved this) o Consistent improvement over 8 consecutive quarters o Due to improved pool curves and data-driven retention initiatives that map customer data to enable real-time decisions 23#245 Well Designed Retention Program Ranges from Proactive Retention to Post Cancellation Winback More proactive | Less expensive | Broader retention / loyalty target Relatively more expensive, but more economical than acquiring a new customer |||||BRINKS HOME Proactive Care Proactive Retention Customer Retention Pending Cancel Winback Cancelled Customer Winback Address emerging risk to proactively build loyalty, secure referrals, upsell add- ons to create stickiness Proactive contract extension offers based on customer risk level and attrition drivers, offers tailored to customer preferences and NPV optimized by Al Retention offers through higher skilled employees trained to handle cancel requests Aggressive last- chance offers through much higher skilled, specialist winback agents Systematically market and re-acquire homes with equipment already installed (better economics than new customer acquisition) (1) Machine Learning to continuously monitor and flag customers based on unified set of features that indicate satisfaction levels, attrition risk, upsell opportunities, referral opportunities and winback opportunities Proactive Retention reached 115k extension milestone since Oct 2019 program launch, saving an estimated $1.3m of recurring monthly revenue: - Leveraging Offer FIT Artificial Intelligence to optimize offers and increase take rates thus increasing profitability - Continuous increase in agent performance through the program - Leveraging the tool across the platform (outbound calls, emails, direct mail and panel messaging) On average 4 extensions are equivalent to a save; 29k saves at population ARPU of $45 translates to $1.3m RMR saved. 24 24#256 Optimizing Sales Channels to Increase Capital Efficiency Dealer Network ■ Largest channel showing improving unit economics with creation multiples at multi year lows Successfully negotiated ~5x reductions to the largest dealer accounts comprising ~50% of the channel volume o To be fully implemented by Q1 2022 。 Expected to reduce multiple into mid-32x's o All negotiations were recently executed in Q1 2021 with 5 year contracts ■ Healthy Independent Dealer Network and scaling Authorized Representative channel Creation Multiple¹ |||||BRINKS HOME 36.0x 36.6x 36.9x 36.4x 36.3x 36.2x 36.4x 35.9x 34.9x 34.3x 33.8x Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Renegotiated dealer contracts lead to lowest multiples for the channel in a decade (1) Creation multiple defined as the multiple of recurring monthly revenue (RMR) at which a customer is acquired 25 25#266 Optimizing Sales Channels to Increase Capital Efficiency (Cont'd) Direct to Consumer (DTC) ■ Includes Phone Sales, Field Sales, and Authorized Partner ■ Core initiative to profitably grow the internal sales engine ■ Established partnership with leading digital marketing firm to optimize search (SEO), SEM/paid search, and lead generation ■ Hired Chief Commercial Officer with robust domain and industry expertise and a proven track record of profitable growth Creation Multiple¹ XX Marketing Spend ($ in M) 3.7 0.4 0.0 62.4x 51.1x 48.4x 42.1x 42.8x اس Q1 2019 Q2 2019 Q3 2019 Q4 2019 10 0.7 2.2 4.8 8.6 40.2x 40.3x 34.5x 22.7x 17.4x 11.8x Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Growing direct to consumer channel reduces the capital required to secure new accounts (1) Creation multiple defined as the multiple of recurring monthly revenue (RMR) at which a customer is acquired |||||BRINKS HOME 26#27Encouraging signs in DTC Phone as Professional Install (DIFM), Average Ticket Price and ARPU continue to improve aided by launch of Consumer Financing in Q3 |||||BRINKS HOME DTC Tele Sale ASP XX ARPU XX % Financed XX DIFM % Post Affirm ASP XX ARPU XX Take rate 35% 30% 31% 72% 97% 60 mon. $2,045 $49.59 11% 34% 9% 6% 2% 38% $38.35 $41.04 $43.27 $44.58 $45.29 36 mon. $1,213 $48.41 10% 24 mon. $703 $43.28 13% $896 12 mon. $420 $41.00 4% $751 $635 $581 $545 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 PIF $720 Create Profitable Accounts @ Scale and hold for life *Paid in Full vs CoFi $44.77 62% 27 27#28Consumer Financing has a meaningful impact on both ARPU and Package Sizes (ATP) ARPU & ATP +3% ↑ ARPU ATP $46.18 $44.77 $720 $1,188 PIF CoFi PIF CoFi +65% Analysis of Subscriber behavior when using Consumer Financing vs Pay in Full Higher monthly monitoring rates Higher ticket prices Create Profitable Accounts @ Scale and hold for life |||||BRINKS HOME 28#29|||||BRINKS HOME 6 AT&T Digital Life Conversion Project Economics On April 9, 2021, executed an agreement with AT&T providing us the exclusive right to convert ~190k Digital Life customers to Brinks Home Creation multiples for conversions, at scale, expected to be substantially lower (17x) than the other channels Highly profitable, less capital intensive, and faster payback period Title of the accounts will be transferred to Brinks Home as the accounts are converted Brinks Home keeps 100% of revenue for the first 15 months after conversion, ARPU of ~$47.00 Modest Revenue Share per month from months 16 through 50 (post conversion) Cost per conversion projection of ~$800 - customers receives new alarm panel, cameras and certain other automation devices Daily Sales Project Update (To date through November 29th) ◉ ☐ Call center performance outpacing targets with higher than expected conversion rates Proactive marketing communication tests underway and providing positive results with high conversion rates Customer Portal marketing option should provide a no touch effort for easy sales options to customers who have yet to speak with the call center 27,728 Unique Interactions 7,649 Jobs Open 23,517 85% Total Sales Conversion 12,385 Installs Complete 250 200 150 100 50 50 0 6/7/2021 6/22/2021 7/7/2021 7/22/2021 8/6/2021 8/23/2021 9/7/2021 29 29#30|||||BRINKS HOME 6 Core Subscribers Supplemented by Opportunistic Bulk Acquisitions G Protect America™ ■ June 2020 asset purchase agreement to acquire 114k contracts, as well as certain inventory, accounts receivable and intellectual property $4.6m in RMR ▪ $16.6m upfront payment and 50-month earnout structure ■ Structured to minimize attrition risk ■ Earnout end date of August 2024 Select Security ■ December 2020 asset purchase agreement to acquire 30k residential and 8k large commercial contracts, as well as certain inventory and accounts receivable $2.0m in RMR ■ $10.9m upfront payment and 50-month earn out structure ■ Structured to share and mitigate attrition risk ■ Retained Select's commercial engine ■ Earnout end date of February 2025 Strong Account Performance ■ Acquired customer base remains in line with expectations ■ Launched proactive retention program ○ Uses predictive churn model to target high risk customers ○ Self-learning Al model to maximize NPV ■ First call resolution and traditional retention are in line with overall base Opportunistic bulk purchases to supplement traditional sales and accelerate growth, structured to minimize capital outlay and downside risk 30 30#317 Prudent Financial Policy Reduction in Net Debt / EBITDA from 6.3x in 2018 to 4.2x as of PF Q2 2021 8+8 Leverage in line with other public company peers KO Disciplined capital allocation with no dividends or buybacks planned Committed to maintaining prudent policies Strong liquidity profile with sufficient cash on balance sheet and revolver availability |||||BRINKS HOME 31 31#324 Operational and Financial Overview 12/15/2021 Create profitable accounts at scale for life Confidential | Page 32#33Key Financial Metrics End of Period Subscribers by Channel¹ (units in thousands) Protect America bulk buy added 114k subs Select Security bulk buy added 30k residential and 8k commercial subs New Subscriber ARPU2 by Channel +22.8% +11.4% |||||BRINKS HOME 901 885 866 848 841 937 916 934 912 892 873 88 91 92 93 94 95 113 96 96 96 108 142 134 97 102 129 120 $53.74 $53.90 $56.17 $45.66 $40.99 813 794 774 755 748 729 712 696 683 667 650 $33.38 Q1 Q1 Q2 Q3 Q4 Q2 Q3 Q4 Q1 Q2 Q3 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 ■Dealer Restructuring period Bulk (Earnout) ■ Direct End of Period RMR by Channel ($ in millions) $40.8 $40.2 $39.2 $38.3 $37.6 $3.1 $3.1 $3.1 $3.1 $3.1 Strengthening the core $41.2 $40.0 $41.6 $40.5 $39.8 $39.5 $4.6 $4.4 $6.0 $5.7 $5.4 $5.3 $3.1 $3.1 $3.1 $3.2 $3.3 $3.8 $37.8 $37.1 $36.1 $35.2 $34.5 $33.5 $32.6 $32.4 $31.7 $31.1 $30.4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 ■ Dealer ■Bulk (Earnout) ■Direct Q4 2019 Q4 2020 Q3 2021 ■Direct Dealer Commentary ■ Analyzed subscriber base to focus on highest quality customers ■ Chose to acquire customers in bulk vs dealers given more favorable economics (while working on improving dealer economics) ■ Increased ARPU via modest price increases and enhanced services ☐ Quality of portfolio continues to improve as attrition declines อล (1) (2) Protect America 114k subscribers added mid-June, 113k remaining at the end of June ARPU: Average Revenue per User 33#34Key Financial Metrics (Cont'd) Stable Net Revenue from Recurring Cash Flows of Subscriber Base Robust Adjusted EBITDA Reflecting Increased Investments to Drive Profitable Growth |||||BRINKS HOME ($ in millions) ($ in millions) $130 $128 $121 $126 $123 $121 $131 $129 $134 $133 $133 $74 $68 $69 $63 $62 $64 $59 $62 $59 $58 $48 57% 53% 52% 49% 48% 53% 52% 48% 44% 43% 36% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 Q1 Q2 Q3 Q4 Q1 Q2 2019 2019 2019 2019 2020 2020 ■Adj. EBITDA Q3 Q4 Q1 Q2 Q3 2020 2020 2021 2021 2021 % Margin Adjusted Unlevered FCF ($ in millions) Adjusted Levered FCF ($ in millions) $46 $44 $37 $32 $35 $32 $21 $25 $22 $19 $13 $16 $12 $15 $13 $11 $4 $9 $1 $0 ($9) ($10) Q1 Q2 Q3 Q4 Q1 2019 2019 2019 2019 2020 Q2 Q3 Q4 Q1 Q2 Q3 2020 2020 2020 2021 2021 2021 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 Note: See Appendix for reconciliation from Net Income to Adjusted EBITDA and reconciliation from Net Cash from Operations to Adjusted Unlevered FCF and Adjusted Levered FCF. 34#35|||||BRINKS HOME Key Financial Metrics (Cont'd) Capital Expenditures $3.8 $3.4 $3.0 $1.5 $4.2 $3.6 $2.7 $4.2 $4.6 $5.7 mil Q1 Q2 Q3 Q4 Q1 2019 2019 2019 2019 2020 Q2 2020 Q1 $4.5 Q3 Q4 Q2 Q3 2020 2020 2021 2021 2021 Commentary ■ Brinks is an asset-light business with minimal capital expenditure requirements ■ SAC is largely discretionary, and management is focused on reducing SAC per acquired customer ○ Achieved the lowest subscriber acquisition cost in over two years in Q1 of 2021 ■ Q2 2020 and Q4 2020 included bulk buys of Protect America and Select Security Subscriber Acquisition Costs $42 $42 $39 $35 $36 $2 $8 $31 $8 $6 $28 $28 $26 $27 $3 $22 $16 $9 $6 $2 $8 $40 $4 $30 $33 $31 $20 $22 $24 $28 $17 $19 $20 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 ■Capitalized SAC ■Expensed SAC 35#3612/15/2021 5 Appendix Create profitable accounts at scale for life Confidential | Page 36#37Non-GAAP Measures and Reconciliations |||||BRINKS HOME ($ in millions) Net (loss) income 2018 2019 2020 LTM Q3 2021 ($678.8) $565.1 ($181.8) ($119.5) Amortization of subscriber accounts, deferred contract acquisition costs and other intangible assets 211.6 200.5 217.3 216.0 Depreciation 11.4 11.1 13.8 16.2 Radio conversion costs 4.2 21.4 32.1 Deferred revenue fair value adjustment -- 0.6 Stock-based compensation Long-term incentive compensation LiveWatch acquisition contingent bonus charges Legal settlement reserve (related insurance recovery) Severance expense Rebranding marketing program Integration/implementation of company initiatives 0.5 0.0 0.8 0.4 (0.0) 0.3 0.1 i (12.5) (4.8) (0.7) 1.1 4.7 1.5 7.4 IGT -- -- 0.5 12.5 9.6 2.8 COVID-19 costs Select Security acquisition costs Select Security intregration costs Loss (gain) on revaluation of acquisition dealer liabilities I I 1.0 1.1 0.1 0.4 i 1.9 2.2 (0.2) (1.9) 1.9 1.9 Impairment of capitalized software 0.1 Goodwill impairment 563.5 81.9 -- Gain on restructuring and reorganization, net (669.7) -- -- Interest expense 180.8 134.1 80.3 81.4 Realized and unrealized loss, net of derivative financial instruments 3.2 6.8 Refinancing expense 12.2 5.2 0.2 3.2 Income tax expense (11.6) 2.5 Adjusted EBITDA $289.4 $266.5 1.9 $253.8 (13.0) $226.9 37#38Non-GAAP Measures and Reconciliations (Cont'd) |||||BRINKS HOME ($ in millions) Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Cash Flow From Operations $48 $26 $19 $21 $27 $29 $37 $36 $21 $13 $16 Cash Flow From Investing (32) (36) (32) (23) (25) (43) (26) (33) (21) (31) (24) Cash Flow From Financing (excl. changes in debt principal, excl. restructuring fees) (10) (0) (3) 0 0 (1) (2) (6) (12) (9) Levered FCF $6 ($10) ($13) ($5) $2 ($14) $9 $2 ($7) ($29) ($17) (+) Cash Interest 25 12 43 21 20 20 20 19 19 19 19 Unlevered FCF $31 $2 $30 $17 $22 $6 $29 $21 $12 ($10) $2 Income Statement Adjustments 3G Covid Costs Insurance & Litigation Recovery Ascent Restructuring Costs Refinancing & Restructuring Total Balance Sheet Adjustments Ascent Dividend Interest Rate Cap Debt Amendment Fees Digital Life Related expenses Digital Life Inventory Total Total Adjustments Post-Emergence Consulting Fees & Deal Closing Costs 26 $10 $23 21117% 1 230 15202 11352 6 10 8 $14 $17 $10 4---2 - 66 $2 $2 $5 $4 $6 $7 $9 $10 $6 1 0 $6 1 3 1 1 1 $6 $11 $10 $11 $7 $5 [t } } ¥ # E 13 | | | Adjusted Levered FCF Adjusted Unlevered FCF $5 $3 $19 $15 $23 $14 $20 $10 $6 $6 $11 $10 $29 $7 $21 $13 $1 $16 $12 ($9) $15 $13 $4 $0 $ 46 $ 25 $ 44 $ 37 $ 32 $ 11 $ 35 $ 32 $ 22 $ 19 $ ($10) 9 15852 Protect America and Select Security upfront payments in Q2-20 and Q4-20 respectively, excluded from the adjustments as they are largely recovered within six months. Free Cash Flow: Cash Flow from Operations, Investing, and Financing (excluding changes in debt principal, and fees related to 2019 restructuring) 38 88#39Confidential | 39