#1PJT Investor Presentation July 26, 2022#2Notices and Disclaimers Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include certain information concerning future results of operations, business strategies, acquisitions, financing plans, competitive position, potential growth opportunities, potential operating performance improvements, the effects of competition and the effects of future legislation or regulations. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words "believe," "expect," "opportunity," "plan," "intend," "anticipate,” “estimate,” “predict," "potential," "continue," "may," "might," "should," "could" or the negative of these terms or similar expressions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations, and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict, many of which are outside the Company's control. The Company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not place undue reliance upon any of these forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (a) changes in governmental regulations and policies; (b) cyberattacks, security vulnerabilities, and internet disruptions, including breaches of data security and privacy leaks, data loss, and business interruptions; (c) failure of the Company's computer systems or communication systems during a catastrophic event, including as a result of the increased use of remote work environments and virtual platforms; (d) the impact of catastrophic events, such as COVID-19 or other pandemics, on the U.S. and the global economy, including business disruptions, reductions in employment and an increase in business failures; (e) the impact of catastrophic events, such as COVID-19 or other pandemics, on the Company's employees and the Company's ability to provide services to its clients and respond to their needs; (f) the failure of third-party service providers to perform their functions; and (g) volatility in the political and economic environment. Any of these factors, as well as such other factors discussed in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2021 filed with the United States Securities and Exchange Commission ("SEC"), as such factors may be updated from time to time in the Company's periodic filings with the SEC, accessible on the SEC's website at www.sec.gov, could cause the Company's results to differ materially from those expressed in forward-looking statements. There may be other risks and uncertainties that the Company is unable to predict at this time or that are not currently expected to have a material adverse effect on its business. Any such risks could cause the Company's results to differ materially from those expressed in forward-looking statements. Non-GAAP Financial Measures This presentation contains certain non-GAAP financial measures. A "non-GAAP financial measure" is defined as a numerical measure of a company's financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States of America ("GAAP") in the statements of operations, financial condition or cash flows of the company. These measures should not be considered substitutes for, or superior to, financial measures prepared in accordance with GAAP. Management believes the following non-GAAP measures, when presented together with comparable GAAP measures, are useful to investors in understanding the Company's operating results: Adjusted Pretax Income; Adjusted Net Income; Adjusted Net Income, If-Converted, in total and on a per-share basis (referred to as "Adjusted EPS"); Adjusted Compensation and Benefits Expense and Adjusted Non- Compensation Expense. These non-GAAP measures, presented and discussed in this presentation, remove the significant accounting impact of: (a) transaction-related compensation expense, including expense related to Partnership Units with both time-based vesting and market conditions as well as equity-based and cash awards granted in connection with the spin-off from Blackstone Inc. ("Blackstone") and acquisition of CamberView Partners Holdings, LLC ("CamberView"); (b) intangible asset amortization associated with Blackstone's initial public offering ("IPO"), the acquisition of PJT Capital LP, and the acquisition of CamberView; (c) impairment of CamberView's former leased space; and (d) the net change to the amount PJT Partners has agreed to pay Blackstone related to the net realized cash benefit from certain compensation-related tax deductions. Reconciliations of the non-GAAP measures to their most directly comparable GAAP measures and further detail regarding the adjustments are provided on pages 28 and 31 of this presentation. For additional information about our non-GAAP financial measures, see our filings with the SEC. Disclaimers This document is "as is" and is based, in part, on information obtained from other sources. Our use of such information does not imply that we have independently verified or necessarily agree with any of such information, and we have assumed and relied upon the accuracy and completeness of such information for purposes of this document. Neither we nor any of our affiliates or agents, make any representation or warranty, express or implied, in relation to the accuracy or completeness of the information contained in this document or any oral information provided in connection herewith, or any data it generates and expressly disclaim any and all liability (whether direct or indirect, in contract, tort or otherwise) in relation to any of such information or any errors or omissions therein. Any views or terms contained herein are preliminary, and are based on financial, economic, market and other conditions prevailing as of the date of this document and are subject to change. We undertake no obligations or responsibility to update any of the information contained in this document. Past performance does not guarantee or predict future performance. This document does not constitute an offer to sell or the solicitation of an offer to buy any security, nor does it constitute an offer or commitment to lend, syndicate or arrange a financing, underwrite or purchase or act as an agent or advisor or in any other capacity with respect to any transaction, or commit capital, or to participate in any trading strategies, and does not constitute legal, regulatory, accounting or tax advice to the recipient. This document does not constitute and should not be considered as any form of financial opinion or recommendation by us or any of our affiliates. This document is not a research report nor should it be construed as such. Presentation of Information All facts, metrics and other information provided herein are presented as of June 30, 2022 unless otherwise stated. Copyright 2022, PJT Partners Inc. (and its affiliates, as applicable). PJT Partners 2#3PJT Partners is a Premier Advisory-Focused Global Investment Bank PjJ Leading Businesses across Strategic Advisory, Strategic Capital Markets, Restructuring, Shareholder Advisory and Capital Raising Global Platform with -840 employees including 103 Partners in the U.S., Europe and Asia¹ $750 Billion+ M&A deals announced² $800 Billion+ Liabilities restructured³ $185 Billion+ Capital raised³ (1) As of 6/30/22 (2) Refinitiv announced volume since spin-off on 10/1/15 to 6/30/22 (3) Since spin-off on 10/1/15 to 6/30/22 PJT Partners 3#4Why PJT Partners? Resilient Business Model Balanced business model allows for growth in most market environments Breadth of capabilities Strong Future Growth Prospects Significant market share growth opportunities Further integration across businesses to drive growth Secular Tailwinds Business disruption and dislocations increase need for strategic advice Receptivity to pure play, advisory-focused firms Disciplined Management Prudent expense management Consistent approach to capital priorities Proven Track Record- Success in attracting best-in-class talent > Significant revenue and earnings growth since spin Shareholder Alignment Unwavering focus on the long term 35%+ employee ownership PJT Partners 4#5Financial Highlights Revenue $ $ Pretax Income EPS GAAP Adjusted¹ GAAP Adjusted¹ Diluted Second $233 $44 $49 $0.74 $0.88 Quarter 2022 Million Million Million -3% YoY -17% YoY -15% YoY -17% YoY -17% YoY $479 First Half 2022 $94 $105 $1.74 $1.88 Million Million Million +7% YoY -3% YoY -2% YoY -9% YoY -4% YoY (1) Figures are shown 'as adjusted'; see reconciliations on page 28 PJT Partners 5 UT#6What We Have Built Our People & Our Relationships PARTNERS Total partner count EMPLOYEES Total headcount 46 2015 353 2015 CLIENTS Total number of clients 209 2015 +124% +138% +145% 103 2Q22 839 C C -Our Financial Results REVENUES $mm $406 2015 +152% ADJUSTED PRETAX INCOME¹ $mm $42 2Q22 2015 ADJUSTED EPS1,2 $ 512 LTM 2022 $1.55 2016 +472% +183% $1,024 LTM 2022 $240 LTM 2022 $4.38 LTM 2022 (1) Figures are shown 'as adjusted'; see reconciliations on page 28. GAAP Pretax Income was -$6mm in 2015 and $217mm in LTM 2022. GAAP Diluted EPS was -$0.17 in 2016 and $3.89 in 2022 (2) Adjusted EPS shown from 2016, as FY 2015 did not have a published adjusted EPS figure PJT Partners 7#7Our Unwavering Commitment Our focus at inception remains our focus today 2015 A Powerful Beginning Oct 2015-2020 The Path to $1 Billion 2021+ Doubling & Beyond Past 30 years new: proven track record with start-up feel ✓ Premier destination for best-in- class talent Unshackled from constraints to better pursue opportunities ✓ Brought together relationships and capabilities to better serve clients Leading businesses in Restructuring and Park Hill - alpha play in Strategic Advisory Present Proven track record of growth in our financial results Destination for best-in-class talent at all levels Closer integration and collaboration across businesses drove growth Expanded roster of bankers and capabilities enhanced client win rates Strengthened leading businesses and grew Strategic Advisory significantly Future Continue to deliver growth in our financial results Investing in best-in-class talent still our top capital priority ✓ Collaboration across businesses still key driver of growth Continue to invest in new and existing capabilities Strategic Advisory provides the most substantial growth opportunity PJT Partners 8#8Strategic Advisory: Long-Term Growth Driven by a Growing Roster of Experienced Practitioners NUMBER OF STRATEGIC ADVISORY PARTNERS¹ # of Strategic Advisory Partners with >2 years on PJT platform 18 27 18 5 23 23 45 52 55 64 47 42 37 30 30 2,3 2014 2015 2016 2017 2018 2019 2020 2021 2022 (1) Partner counts are as of period end (2) As of 10/1/14 (3) Individuals from Blackstone Advisory Partners that became part of PJT Partners post spin (4) Inclusive of individuals from CamberView Partners that became part of PJT Partners post acquisition Sustained growth in Strategic Advisory partner count Almost 30% of partners still new to the PJT platform PJT Partners 9#9Building Our Reputation Gi Clients Advice is the main event PjJ Employees A Culture centered on collaboration and excellence Recruits Opportunity to be a difference maker $ Investors Community Commitment to supporting our communities Significant financial growth since inception PJT Partners 10#10Why Clients Choose PJT Partners Broad & Deep Capabilities. Strategic Advisory Strategic Capital Markets PjJ Secondary Advisory Restructuring & Special Situations > Activism Preparedness & Defense > Capital Raising > Contested Situations > Corporate Finance > Corporate Governance > Debt Capital Markets > Direct Investments Every Client Is Important Partnership Culture ✓ Advice Is the Main Event > Equity Capital Markets/IPOs/SPACS > ESG/Sustainability ✓ Client Centric Shareholder > Fund Recapitalizations Advisory Capital Raising > Liability Management > LP Advisory > Mergers and Acquisitions > Private Capital Markets > Restructuring & Special Situations > Shareholder Vote Campaigns > Strategic IR Experienced, Engaged Teams Mindshare, not Market Share PJT Partners 11#11Why We Are the Destination for Top Talent High-Grading the Big Firm Experience Big Firm Capabilities Collaboration & teamwork Global reach Partnership culture Concentration of top practitioners Brand recognition Complex transaction flow PT Entrepreneurial at all levels Opportunity for meaningful impact Cross-product capabilities Focus on talent development Commitment to excellence Advice is the main event Small Firm Feel PJT Partners 12#12Employer of Choice Inclusive, collaborative culture reinforced by... Recruiting efforts emphasizing core values, including diversity Compensation principles rewarding long-term perspectives Fostering a culture of continuous improvement Training to ensure development of broad-based skills and capabilities Giving voice to employees through frequent engagement Commitment to mentoring and advancement PJT Partners 13#13What Our Employees Are Saying about Us Diversity Doing the Right Thing Commitment to Excellence Culture of Collaboration Client Exposure Focus and Awareness 66 People working together to do the right thing for clients and the Firm. Great firm culture of collaboration and respect; firm hires people who fit well within culture we are trying to create and maintain. Working alongside smart and engaged colleagues who care about our clients. I feel that my contributions are valued and I am always presented with opportunities to make an impact. Managers and management care about their employees and show concern and support. The firm has great diversity and career opportunities for employees. My team members are incredibly knowledgeable and eager to mentor, which has made my experience tremendous. Being part of a collaborative culture with a clear ambition to continue to grow this differentiated platform. The PJT culture and spirit of excellence is the best I have encountered in investment banking. The ability to have a seat at the table and have responsibilities way beyond your title. The brand is so strong that juniors are able to gain tremendous deal experience. I really like that PJT already has a very strong culture of respect...diversity, inclusion, [and] wellbeing. I love my colleagues and the fact that I am empowered to take initiative and lead. 99 Note: Based on PJT's 2022 employee survey PJT Partners 14#14Premier Destination for Top Talent at All Levels Partner Growth Strategic Advisory Restructuring PJT Park Hill Corporate 88 97 103 61 71 81 46 51 18 11 14 3 20 13 15 3 27 13 17 4 37 13 16 5 45 14 15 7 52 13 16 7 2015 2016 2017 2018¹ 2019 2020 56 15 18 8 2021 64 15 18 6 2Q22 Employee Growth 419 473 590 678 749 833 839 353 2015 2016 2017 2018¹ 2019 2020 2021 2Q22 Note: Figures are as of period end (1) Inclusive of individuals from CamberView Partners that became part of PJT Partners post acquisition PJT Partners 15#15Our Global Culture...Our Global Reach Our Global Talent 27 Languages 41 Nationalities 28% Employees Outside the U.S. Our Global Client Reach (税込 57 Countries X Fitxil PJT Partners 16#16PJT Partners Gives Back spear resurs loads поче ROBIN HOOD FREINSHE CITY APPLE HARVEST GOOD SHEPHERD SERVICES We see what can be. FEEDING AMERICA CATHOLIC CHARITIES ARCHDIOCESE NEW YORK AMSUDAN Imperial Health coalition Charity for the homeless 00 jami GREAT ORMOND STREET HOSPITAL CHARITY POSSE MAYOR'S FUND FOR LOS ANGELES global fund children HER JUSTICE Shift the Power INNOCENCE PROJECT CHICAGO COMMUNITY COVID-19 RESPONSE FUND New York Cares THE WAY TO VOLUNTEER TATE KIDS JUST GOOD Grub EAST HARLEM TUTORIAL PROGRAM Since 1958 RIVER FUND Equal Justice ell Initiative YOU TH Felix PROJECT STUDENT SPONSOR PARTNERS GLIDE UNCONDITIONALLY INC YOU CAN PLAY EK Community Fwd Bank Telgter magic breakfast fuel for learning THE SALVATION ARMY YOUTH GUIDANCE CULONG XIDE TO BAGHT FUTURES i/mentor Go Project WHEDco Building AGB KIPP:NYC PUBLIC SCHOOLS DESIGN TRUST FOR PUBLIC SPACE the SOUTH SHORE YMCA Yale NewHaven Health the Rowan LINC LiteracyINC BABY2BABY KIPP BAY AREA PUBLIC SCHOOLS IMPETUS Sexual Assault Referral Centre RITY PREP FOR PREP C COMM 1978 be MAYOR'S FUND TO ADVANCE NEW YORK CITY LDF win (1) Cumulative since 2020 FOR YOUTH MORE IS POSSIBLE FIRST PLACE SF.MARIN FOOD BANK MMcLean HOSPITAL 181 HARVARD MEDICAL SCHOOL AFFILIATE YOU TO TEACHING MATTERS PASE $4.4mm+ total firm giving¹ YELLOWSTONE ACADEMY BOYS & GIRLS CLUB OF GREENWICH OLIVER SCHOLARS opportunity unlocked mind for better mental health UNITED NATIONS FOUNDATION 205+ global organizations supported across our communities¹ Sunrise Association Spring Spirit ADL TENTIAL POTEN ENRICH Daniel Murphy Scholarship Fund The AMOS Bursary THE OPPORTUNITY NETWORK WORLD CENTRAL kitchen UJA NEW YORK Federation h. APEX Hearts of Gold 500+ hours of service committed to increased awareness and long- term community engagement PJT Partners 17#17Our Clients' Results Are Our Reputation... Strong Legacy, New Energy One Integrated Firm, Complementary Capabilities A Forward Thinking Mindset Defined by Deep Relationships With a Culture Centered Around Collaboration, Clients and Content And a Focus on the Future ...We are PJT Partners PJT Partners 18#18PJT Partners Our Businesses#19Premier Strategic Advisory Franchise Strategic Advisory Strategic Capital Markets Select Transactions abbvie T.-Mobile- $63 Billion $59 Billion •Allergan. Sprint PjJ Restructuring & Special Situations GECAS $35 Billion AERCAP CAESARS ENTERTAINMENT. TD AMERITRADE $26 Billion charles SCHWAB Mylan $50 Billion Upjohn A Pfizer Division sky $48 Billion COMCAST Gε $21 Billion D DANAHER Flutter £14 Billion STARS GROUP Secondary Advisory Shareholder Advisory Capital Raising $17 Billion E ELDORADO RESORTS Nielsen $16 Billion Evergreen and Brookfield led conosortium, Viasat M $7 Billion inmarsat LEGG MASON GLOBAL ASSET MANAGEMENT CSL™ $12 Billion VIFOR PHARMA wework $9 Billion bowX $7 Billion FRANKLIN TEMPLETON Blackstone -$6 Billion C THE COSMOPOLITAN of LAS VEGAS Sony Interactive Entertainment -$4 Billion BUNGIE PJT Partners 20#20Breadth of Strategic Capital Market Capabilities Strategic Advisory PjJ Secondary Advisory Strategic Capital Markets Restructuring & Special Situations Shareholder Advisory Capital Raising Select Recent Transactions T-Mobile cerberus wework SoFi 888 PG&E MATTEL ENVESTNET FS FinServ Acquisition Corp. Albertsons® HILTON GRAND VACATIONS allwyn' CARNIVAL CORPORATION & PLC. cineworld CINEMAS Ⓡ PORSCHE ASTRA ET TEMASEK iCapital. Equity Capital Markets NETWORK KIKOCH bowX super bet #1 HOST HOTELS & RESORTS ARTMENT OF THE TRE #STARS GROUP USS 1789 BUNGIE AGBO EGYM WYNDHAM HOTELS & RESORTS Debt Capital Markets Structured Products Private Capital Markets SPACS PJT Partners 21#21Leading Global Restructuring & Special Situations Franchise Strategic Advisory Strategic Capital Markets IFR AWARDS 2020 & 2021 IFR's Restructuring Adviser of the Year #3 Worldwide Announced Restructurings¹ Envision ligado Mc Graw HEALTHCARE Hill #3 U.S. Announced Restructurings¹ Frontier WHITING NETWORKS COMMUNICATIONS STEINHOFF PjJ Restructuring belk & Special Situations Shareholder Advisory ARSENAL RESCUNOA PETSMART R Kenya Airways 中 OAKORN CAESARS LATAM TRAVELPORT ENTERTAINMENT. The Pride of Africa J.CREW KSBG Bristow noble group TridentUSA W Westinghouse HEALTH SERVICES SOLSTAD OFFSHORE PG&E Government of Ukraine windstream® W Secondary Advisory Capital Raising selecta GROUPE swissport → Casino GHG WASHINGTON PRIME GROUP™ AEROMEXICO CEC entertainment PURDUE RALLYE CBL CBL PROPERTIES ¡Heart RADIO incora CENTRIC BRANDS (1) Based on Refinitiv restructuring transaction value amount from 1/1/22 to 6/30/22 TAILORED BRANDS* PremierOil INTELSAT. Envision. Connect. Transform. FITNESS Bruin steag E&P PARTNERS, LLC TULLOW Un DD ED&F Capital MAN Markets DONCASTERS Mallinckrodt codere ALGECO AS SCOTSMAN Prosafe FirstEnergy Southland Solutions Royalty Company PJT Partners 22#22Leading Shareholder Advisory Capabilities Strategic Advisory Strategic Capital Markets PjJ Restructuring & Special Situations Shareholder Advisory 275+ Global public company clients Advised on 55+ Fortune 100 clients 11,500+ Client engagements with 450+ investors Secondary Advisory Capital Raising 375+ Complex proxy votes and campaigns 125+ Activism preparedness and defense mandates $1tn+ Aggregate market cap of Strategic IR clients Note: Shareholder Advisory statistics are cumulative as of 6/30/22; include situations prior to combination of CamberView Partners with PJT Partners; Campaigns include activism, M&A, Director Against, Say-on-Pay and shareholder proposals PJT Partners 23#23Market Leadership in Alternative Asset Management PJT Park Hill Strategic Advisory Strategic Capital Markets Fundraising Private Equity, Hedge Fund/ $450bn+ Private Credit, Real Estate Capital raised PjJ Restructuring & Special Situations 400+ Primary funds represented Investor 3,000+ relationships Shareholder Advisory Secondary Advisory Secondary Advisory Capital Raising Note: Statistics since inception of businesses LP Advisory $60bn+ GP Structured Advisory Solutions $50bn+ $2bn+ LP portfolio sales GP-led secondary transactions Structured products PJT Partners 24#24PJT Partners Our Financials#25Capital Priorities and Disciplined Financial Management Capital Priorities ✔ Invest in Our Business ✓ Offset Dilution¹ Approximately $810mm used to repurchase 14.8mm shares and share equivalents ✓ Increased Dividend of $0.25 per quarter announced on 2/1/22 Approximately $112mm used to pay dividends¹ Operational Oversight ✓ Disciplined expense management Strong cash position Alignment ✓ Significant stock-based component of compensation 35%+ employee ownership ✓ Senior management awards tied to shareholder value creation (1) Since spin-off on 10/1/15 to 6/30/22 PJT Partners 26#26GAAP Statements of Operations (Amounts in millions, except per share data) 3 Months Ended 6/30, 6 Months Ended 6/30, LTM 12 Months Ended 12/31, 2022 2021 2022 2021 2022 2Q21 2021 2020 2019 2018 2017 2016 2015 Revenues Advisory $186.6 $197.6 $368.3 Placement $49.5 $40.3 $109.8 Interest Income and Other ($3.0) $2.7 Total Revenues $233.1 $240.7 $1.3 $479.5 $350.2 $90.7 $6.4 $447.4 $780.8 $873.4 $762.7 $872.3 $571.8 $451.6 $386.3 $377.6 $286.0 $235.8 $178.7 $216.7 $162.2 $133.2 $111.0 $102.8 $115.0 $114.1 $7.4 $14.9 $12.5 $17.8 $12.7 $17.7 $10.2 $6.9 $5.9 $1,024.0 $1,066.9 $991.9 $1,052.3 $717.6 $580.2 $499.3 $499.4 $405.9 Expenses Compensation and Benefits $150.6 $153.9 $309.8 $286.7 $663.1 $681.4 $640.0 $683.4 $502.2 $424.5 $391.5 $381.0 $315.2 Occupancy and Related $8.7 $8.8 $17.6 Travel and Related $6.7 $1.7 $11.1 $17.2 $2.2 $35.1 $34.2 $34.7 $18.0 $3.7 $9.1 Professional Fees $7.2 $8.2 $14.3 $16.0 $25.5 $28.9 $27.2 Communications and Information Services $4.2 $5.0 $8.7 $9.2 $17.5 $16.7 $18.1 Depreciation and Amortization $4.1 $3.8 $8.4 $7.6 $16.5 $15.2 $15.8 $15.1 Other Expenses $8.0 $6.8 $15.7 $12.1 $31.3 Total Non-Compensation Expense $38.9 $34.3 Total Expenses $189.5 $188.2 $75.8 $385.6 $64.3 $143.9 $351.0 $807.1 $25.8 $124.5 $805.9 $27.7 $26.6 $132.5 $120.9 $772.5 $804.3 $34.3 $31.5 $27.1 $26.9 $25.8 $32.7 $7.3 $25.7 $23.4 $13.6 $11.5 $14.1 $23.0 $21.8 $20.6 $19.3. $18.9 $19.8. $14.7 $13.4 $12.5 $10.8 $8.9 $7.6 $14.5 $10.0 $8.1 $14.0 $14.9 $26.4 $20.6 $19.0 $24.8. $7.6 $133.3 $114.3 $97.7 $103.9 $96.7 $635.4 $538.7 $489.2 $484.9 $411.9 Income (Loss) Before Provision (Benefit) for Taxes $43.7 $52.4 $93.8 Provision (Benefit) for Taxes $8.5 $9.6 $14.2 $96.3 $9.7 Net Income (Loss) $35.2 $42.9 $79.7 $86.7 Net Income (Loss) Attributable to Non- $16.0 $19.7 $34.8 $36.8 $217.0 $261.1 $219.4 $248.0 $82.2 $41.5 $10.1 $14.5 ($5.9) $34.0 $34.9 $29.5 $35.5 $18.4 ($1.0) $38.4 $9.4 $183.0 $226.2 $190.0 $212.4 $63.8 $42.6 ($28.3) $5.1 $81.8 $99.3 $83.8 $94.9 $34.2 $15.4 $4.2 $8.1 $0.2 ($6.2) ($13.8) Controlling Interests Net Income (Loss) Attributable to PJT $19.2 $23.1 $44.9 $49.8 $101.2 $126.8 $106.2 $117.5 Partners Inc. Net Income (Loss) Per Share of Class A $0.76 $0.92 $1.79 $1.99 $4.05 $5.11 $4.25 $4.80 $1.23 Common Stock - Basic $29.6 $27.2 ($32.6) ($3.0) $7.6 $1.23 ($1.73) ($0.17) N/A Net Income (Loss) Per Share of Class A Common Stock - Diluted $0.74 $0.89 $1.74 $1.91 $3.89 $4.92 $3.99 $4.40 $1.21 $1.16 ($1.73) ($0.17) N/A Weighted-Average Shares of Class A Common Stock Outstanding - Basic Weighted-Average Shares of Class A Common Stock Outstanding - Diluted 25.1 25.1 25.1 25.0 25.0 24.8 25.0 24.5 24.0 21.9 18.9 18.3 N/A 26.4 42.1 26.5 42.6 41.9 42.3 42.4 43.1 25.0 24.3 18.9 18.3 N/A PJT Partners 27#27Summary of GAAP to Adjusted Financial Information (Amounts in millions, except per share data) 3 Months Ended 6/30, 2022 2021 6 Months Ended 6/30, 2022 2021 LTM 2022 2021 2021 2020 12 Months Ended 12/31, 2019 2018 2017 2016 2015 Revenues Advisory Placement $186.6 $49.5 $197.6 $40.3 Interest Income and Other ($3.0) $2.7 Total Revenues $233.1 $240.7 $368.3 $109.8 $1.3 $479.5 $350.2 $90.7 $6.4 $447.4 $780.8 $873.4 $762.7 $872.3 $571.8. $451.6 $386.3 $377.6 $286.0 $235.8 $178.7 $216.7 $162.2 $133.2 $111.0 $102.8 $115.0 $114.1 $7.4 $14.9 $12.5 $17.8 $12.7 $17.7 $10.2 $6.9 $5.9 $1,024.0 $1,066.9 $991.9 $1,052.3 $717.6 $580.2 $499.3. $499.4 $405.9 Compensation and Benefits Expense Compensation and Benefits- US GAAP Basis $150.6 $153.9 $309.8 $286.7 $663.1 $681.4 $640.0 $683.4 $502.2 $424.5 $391.5 $381.0 $315.2 Adjustments: Transaction-Related Compensation Expense (1) ($3.7) ($3.5) Compensation and Benefits- As adjusted $146.9 $150.4 ($7.8) $302.1 ($7.1) $279.6 ($15.5) ($14.3) ($14.9) ($14.7) ($41.9) ($52.6) ($71.3) ($65.8) ($36.9) $647.6 $667.1 $625.2 $668.7 $460.3 $371.9 $320.2 $315.2 $278.3 Non-Compensation Expense Non-Compensation- US GAAP Basis $38.9 $34.3 $75.8 $64.3 $143.9 $124.5 $132.5 $120.9 $133.3 $114.3 $97.7 $103.9 $96.7 Adjustments: Amortization of Intangible Assets (2) ($1.9) ($1.9) ($3.8) Spin-Off-Related Payable Due to Blackstone (3) $0.1 ($0.0) $0.1 ($3.9) ($0.1) Impairment (4) Non-Compensation- As adjusted $37.1 $32.3 $72.1 $60.4 ($7.6) ($7.8) ($7.8) ($7.8) ($7.7) ($3.7) ($2.4) ($8.9) ($10.9) ($0.1) ($0.6) ($0.2) ($0.6) ($0.5) ($1.1) ($3.0) ($4.1) ($0.3) $136.2 $116.1 $124.5 $112.6 $125.1 $109.1 $92.3 $91.0 $85.7 Pretax Income Income (Loss) Before Provision (Benefit) for Taxes- US GAAP Basis $43.7 $52.4 $93.8 $96.3 $217.0 $261.1 $219.4 $248.0 $82.2 $41.5 $10.1 $14.5 ($5.9) Adjustments: Transaction-Related Compensation Expense Amortization of Intangible Assets (2) (1) $3.7 $3.5 $7.8 $7.1 $15.5 $14.3 $14.9 $14.7 $1.9 $1.9 $3.8 $3.9 $7.6 $7.8 $7.8 $7.8 $41.9 $7.7 $3.7 $52.6 $71.3 $65.8 $36.9 $2.4 $8.9 $10.9 Spin-Off-Related Payable Due to Blackstone (3) ($0.1) $0.0 ($0.1) $0.1 $0.1 $0.6 $0.2 $0.6 $0.5 $1.1 $3.0 $4.1 Impairment (4) $0.3 Income Before Provision for Taxes- As adjusted $49.1 $57.9 $105.3 $107.4 Adjusted Taxes(5) $9.4 $10.0 Net Income-As adjusted $39.7 $47.9 $16.1 $89.3 $11.0 $96.4 $240.2 $283.7 $242.3 $270.9 $132.3 $99.2 $86.8 $40.1 $39.0 $35.1 $38.8 $22.0 $16.5 $45.5 $19.3 $200.1 $244.7 $207.2 $232.2 $110.2 $82.7 $41.3 $74.1 $93.3 $41.9 $1.7 $40.2 If-Converted Adjustments Less: Adjusted Taxes (5) ($9.4) ($10.0) ($16.1) Add: If-Converted Taxes (6) $12.7 $13.5 $27.2 Adjusted Net Income, If-Converted $36.5 $44.5 $78.1 Adjusted Net Income, If-Converted Per Share $0.88 $1.06 $1.88 ($11.0) $24.4 $83.0 $1.95 Weighted-Average Shares Outstanding, If- Converted 41.6 42.1 41.7 42.6 ($40.1) ($39.0) ($35.1) ($38.8) ($22.0) ($16.5) ($45.5) ($19.3) N/A $56.8 $67.1 $54.1 $67.1 $33.7 $22.7 $28.1 $35.8 N/A $183.4 $216.6 $188.2 $203.9 $98.5 $76.5 $58.7 $57.5 N/A $4.38 $5.12 $4.44 $4.93 $2.41 $1.91 $1.54 $1.55 N/A 41.9 42.3 42.4 41.4 41.0 38.0 37.2 N/A 40.1 See "Notes to Financials" on page 31 for footnote detail PJT Partners 28#28Cash Returned to Shareholders through Repurchases and Dividends SHARE REPURCHASES AND DIVIDENDS OVER TIME $mm 300 250 200 161 4 150 100 168 81 163 314 268 78 236 88 180 156 ל 56 50 4 76 52 0 2017 2018 2019 2020 2021 LTM 2022 1 2 ■Share Repurchases ■Dividends (1) Includes open market repurchases, exchanges and net share settlements (2) Includes ordinary and special dividends PJT Partners 29#29Share Count SHARE COUNT¹ Share count in mm 44.5 44.0 42.1 41.6 4.1 4.4 12 1.3 0.4 0.4 0.3 0.3 15.4 14.8 15.4 14.8 25.1 25.1 24.6 24.5 6/30/2021 6/30/20222 6/30/2021 6/30/20224 3 Wtd. Avg. FD Shares Outstanding (Treasury Stock Method)³ Class A Common Shares Vested Holdings Units Fully-Diluted Shares Outstanding (If-Converted) Unvested Holdings Units (1) Assumes all Partnership Units and unvested RSUs are fully converted to Class A common stock. Included in Class A Shares are Vested, Undelivered Shares (2) Fully-Diluted 6/30/22 Vested Holdings Units include -6.3 million shares held by current and former Blackstone partners Unvested RSUs (3) Weighted-average for the three months ended 6/30. Assumes all Partnership Units are fully converted and unvested RSUs are converted under the treasury stock method to Class A common stock (4) As of June 30, 2022, 1.1 million Partnership Units and 1.5 million RSUs have yet to satisfy certain market conditions and were excluded from any share count calculations PJT Partners 30 30#30Notes to Financials 1. This adjustment adds back to GAAP Pretax Income (Loss) transaction-related compensation expense for Partnership Units with both time-based vesting and market conditions as well as equity-based and cash awards granted in connection with the spin-off from Blackstone Inc. and the acquisition of CamberView. 2. This adjustment adds back to GAAP Pretax Income (Loss) amounts for the amortization of intangible assets that are associated with Blackstone's IPO, the acquisition of PJT Capital LP on October 1, 2015 and the acquisition of CamberView on October 1, 2018. 3. This adjustment adds back to GAAP Pretax Income (Loss) the amount the Company has agreed to pay Blackstone related to the net realized cash benefit from certain compensation-related tax deductions. Such expense is reflected in Other Expenses in the Condensed Consolidated Statements of Operations. 4. This adjustment adds back to GAAP Pretax Income (Loss) on the impairment on CamberView's former leased space. 5. Represents taxes on Adjusted Pretax Income, considering both current and deferred income tax effects for the current ownership structure. 6. Represents taxes on Adjusted Pretax Income, assuming all Partnership Units (excluding the unvested Partnership Units that have yet to satisfy market conditions) were exchanged for shares of the Company's Class A common stock, resulting in all of the Company's income becoming subject to corporate-level tax, considering both current and deferred income tax effects as well as return to provision adjustments. This tax rate excludes a number of adjustments, including the tax benefits of the adjustments for transaction-related compensation expense, amortization expense and tax benefit recorded pursuant to the CARES Act. 7. Amounts presented in tables above may not add or recalculate due to rounding. PJT Partners 31