Investor Presentaiton

Investment Tenets Strong Track Record of Growth and Profitability Strong and consistent financial performance since going public. Long history of growing senior banker headcount. Lower Revenues and Earnings Volatility Through Economic Cycles Given our diversified business model, focus on mid-cap clients in our corporate finance business and the size of our restructuring practice, we believe we are less volatile than other investment banking firms. Houlihan Lokey Long-Tenured Management Team The average tenure of our executive leadership team is over 30 years. High Quality, Diversified Revenues HLI is diversified across clients, industries, geographies, transactions and bankers. Strong Growth Prospects HLI has significant room to grow all three businesses globally. Market Fundamentals Are Favorable for Independent Advisors We believe that independence is increasingly important to our clients and that our limited- service focus is more attractive to our clients than being a full-service investment banking firm. Houlihan Lokey | 5

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