Investor Presentaiton

Growth through Hiring and MD Productivity HL has increased its Managing Director Headcount by a CAGR of 10% over the last 20 years through internal promotions, opportunistic hirings, and strategic acquisitions. HL has maintained solid MD productivity through the cycles. Productivity increased in FY21 and FY22 due to significantly less travel and more time for deal execution as a result of COVID-19. History of Growing Managing Director Headcount 45 62 62 65 55 Revenue Per MD1 313 289 190 198 198 165 169 173 $5.7 $5.9 $5.9 146 125 100 107 115 85 88 72 75 78 $7.7 $7.9 $5.8 2003 2005 2007 2009 2011 2013 2015 2017 2019 2021 2023 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 Note: For fiscal years ended March 31. All dollar amounts in millions unless otherwise noted. 1. Based on the number of MDS at the end of each respective fiscal year, excludes corporate MDs. Houlihan Lokey | 14

View entire presentation