Sterling Results Presentation Deck

(1) Consists of transaction expenses related to mergers and acquisitions, associated earn-outs, investor management fees in connection with the Fourth Amended and Restated Management Services Agreement and costs related to preparation of the IPO. For the three months ended March 31, 2020, June 30, 2020, and September 30, 2020, these costs include $0.5 million of investor management fees in connection with the Fourth Amended and Restated Management Services Agreement. For the three months ended December 31, 2020 these costs include $0.9 million of earn-out contingent consideration related an acquisition in 2018 and $0.5 million of investor management fees in connection with the Fourth Amended and Restated Management Services Agreement. For the three months ended March 31, 2021 costs include $0.5 million of investor management fees in connection with the Fourth Amended and Restated Management Services Agreement and $0.6 million of costs related to preparation of the initial public offering. For the three months ended June 30, 2021 costs include $0.8 million of earn-out contingent consideration related to an acquisition in 2018, $0.5 million of investor management fees in connection with the Fourth Amended and Restated Management Services Agreement, and $4.9 million in costs related to the preparation of the IPO. For the three months ended September 30, 2021, costs consisted primarily of IPO related expenses of $30.6 million, including $16.8 million of contractual compensation payments to former executives (of which, $15.6 million was funded by a stockholder), $8.3 million final settlement of investor management fees, and $5.5 million of professional fees and other related expenses. The period also included $0.6 million of earn-out and performance-based incentive payments associated with an acquisition in 2018. For the three months ended December 31, 2021, costs consisted primarily of IPO related expenses of $2.3 million, and $2.0 million in costs related to the EBI acquisition. (2) Consists of restructuring-related costs, including executive recruiting and severance charges, and lease termination costs and disposal of fixed assets related to our real estate consolidation efforts. During 2019 and 2020, we executed an extensive restructuring program, significantly strengthening our management team and creating a client-facing industry-specific Vertical organization. This program was completed by the end of 2020 and the final costs related to this program were incurred through the first quarter of 2021. Beginning in 2020, we began executing a virtual-first strategy, closing offices and reducing office space globally. We expect this real estate consolidation effort to be completed by the end of 2021. For the three months ended March 31, 2020, June 30, 2020, September 30, 2020, and December 31, 2020, these costs include $0.5 million, $4.8 million, $0.5 million, and $0.9 million of restructuring-related severance and executive recruiting charges, respectively. For the three months ended June 30, 2020, September 30, 2020, and December 31, 2020, these costs also include, $0.7 million, $0.6 million, $0.8 million of costs related to our real estate consolidation program, respectively. For the three months ended March 31, 2021 costs include $0.5 million of investor management fees in connection with the Fourth Amended and Restated Management Services Agreement and $0.6 million of costs related to preparation of the initial public offering. For the three months ended June 30, 2021 costs include $0.8 million of earn-out contingent consideration related to the 2018 acquisition of NCC, $0.5 million of investor management fees in connection with the Fourth Amended and Restated Management Services Agreement, and $4.9 million in costs related to the preparation of the initial public offering. For the three months ended September 30, 2020, the costs primarily comprised of $0.5 million of restructuring-related executive recruiting and severance charges, and $0.6 million related to our real estate consolidation program. For the three months ended December 31, 2021, costs of $0.6 million pertain to lease termination costs and write-offs on disposal of fixed assets related to our real estate consolidation program. (3) Includes costs related to technology modernization efforts. We believe that these costs related to "Project Ignite", are discrete and non-recurring in nature, as they relate to a one-time restructuring and decommissioning of our on-premise production systems and corporate technological infrastructure and the move to a managed service provider, decommissioning redundant fulfillment systems and modernizing internal functional systems. As such, they are not normal, recurring operating expenses and are not reflective of ongoing trends in the cost of doing business. The significant majority of these are related to the last two phases of Project Ignite, with the remainder related to an investment made to modernize internal functional systems in preparation for our public company infrastructure. For the three months ended March 31, 2020, June 30, 2020, September 30, 2020, and December 31, 2020, investment related to Project Ignite was $2.2 million, $2.1 million, and $2.4 million, and $2.4 million respectively. For the same periods, additional investments made to modernize internal functional systems were $0.9 million, $0.4 million, $0.2 million, and $0.5 million, respectively. For the three months ended March 31, 2021, and June 30, 2021, these costs included investment related to Project Ignite of $2.1 million, and $3.9 million respectively. For the three months ended September 30, 2020, investment related to Project Ignite was $2.4 million, and additional investment made to modernize internal functional systems was $0.2 million. For the three months ended December 30, 2021, investment related to Project Ignite was $3.5 million, and additional investment made to modernize internal functional systems was $0.4 million. 4) Consists of non-recurring settlements impacting comparability. For the three months ended March 31, 2020, June 30, 2020, September 30, 2020, the costs include charges related to legal settlements outside the ordinary course of business, of $0.1 million in each period, primarily related to the 2019 settlement with the Consumer Financial Protection Bureau ("CFPB"). For the three months ended December 31, 2020 the costs include a $2.3 million settlement related to sales tax and $0.4 million of charges related to legal settlements outside the ordinary course of business. For the three months ended December 31, 2021, costs include a $0.5 million settlement related to sales tax. 5) Consists of (gain) loss on interest rate swaps. See "Part II. Item 7A. Quantitative and Qualitative Disclosures about Market Risk-Interest Rate Risk" of our Annual Report on Form 10-K for the period ended December 31, 2021 for additional information on interest rate swaps. 6) Consists of costs related to a local government mandate in India, (gain) loss on foreign currency transactions, impairment of capitalized software and other costs outside of the ordinary course of business. For the three months ended March 31, 2020 charges there was a loss on translation of foreign exchange of $1.6 million. For the three months ended June 30, 2020 charges include $1.3M related to a local government mandate in India and $0.1 million for the impairment of capitalized software. These were offset by a gain on translation of foreign exchange of $1.3 million and an insurance reimbursement of $0.7 million related to duplicate fulfillment charges incurred in 2019. For the three months ended September 30, 2020 there was a $0.4 million gain on translation of foreign exchange. For the three months ended December 31, 2020 there was a $0.2 million gain on translation of foreign exchange and $0.6 million charge for impairment of capitalized software. For the three months ended March 30, 2021 there was a $0.5 million loss on translation of foreign exchange. For the three months ended June 30, 2021 there was a $0.6 million loss on translation of foreign exchange and a charge of less than $0.1 million for impairment of capitalized software. These costs were partially offset by a $0.5 million insurance reimbursement related to duplicate fulfillment charges incurred in 2019. For the three months ended September 30, 2021, there was a $0.2 million gain on translation of foreign exchange. For the three months ended December 21, 2021, there was a $0.1 million loss on translation of foreign exchange and $0.2 million charge for impairment of capitalized software. 29 Sterling