Montrose Environmental at a Glance

Attractive Capital Structure Commentary • •Flexible balance sheet to pursue investments in innovation and acquisitions in highly fragmented industry • Montrose has $201.8 million of liquidity, including $76.8 million of cash and $125.0 million of availability under its revolving credit facility as of 3/31/23 • Net leverage (1) of 1.4x as of 3/31/23 ⚫Equity capitalization of $1.3 billion(2) consisting of 1) 30.1 million shares of common stock outstanding plus 2) $182.2 million of A-2 Preferred Equity held by Oaktree (3) Total Equity Capitalization ~$1.3B Equity Market Capitalization Preferred Equity $182M(3) Common Equity ~$1.1B(2) Net Debt $87M(4) 1) The Company's leverage ratio under its credit facility includes the impact of acquisition-related contingent earnout payments that may become payable in cash. 2) As of May 5, 2023. 3) Includes Initial $175M stated value and accrued interest through July 27, 2020. 4) Net debt is a non-GAAP measure and is calculated as total debt (excluding deferred debt issuance costs) of $164.1 million less cash on hand of $76.8 million as of March 31, 2023. See the appendix to this presentation for a discussion of Net Debt. © 2023 Montrose Environmental Group, Inc. Proprietary. 19

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