Form 8-K

8-K — Advantage Solutions Inc.

Accession: 0001193125-26-333843

Filed: 2026-08-05

Period: 2026-08-05

CIK: 0001776661

SIC: 7389 (SERVICES-BUSINESS SERVICES, NEC)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — adv-20260805.htm (Primary)

EX-99.1 (adv-ex99_1.htm)

EX-99.2 (adv-ex99_2.htm)

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8-K

8-K (Primary)

Filename: adv-20260805.htm · Sequence: 1

8-K

0001776661false0001776661adv:ClassCommonStock0.0001ParValuePerShareMember2026-08-052026-08-0500017766612026-08-052026-08-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 5, 2026

Advantage Solutions Inc.

(Exact name of Registrant as Specified in Its Charter)

Delaware

001-38990

83-4629508

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

7676 Forsyth Boulevard, Fifth Floor

St. Louis, Missouri

63105

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (314) 655-9333

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Class A common stock, $0.0001 par value per share

ADV

NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 – Results of Operations and Financial Condition.

On August 5, 2026, Advantage Solutions Inc. (the “Company”) issued a press release announcing its financial results for the second quarter ended June 30, 2026. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

On August 5, 2026, at 8:30 a.m. ET, the Company will host a conference call announcing its financial results for the second quarter ended June 30, 2026. A copy of management’s earnings presentation materials is attached as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated by reference herein. The presentation will be accessible on the Investor Relations section of the Company’s website at https://ir.youradv.com/.

The Company makes reference to non-GAAP financial information in the press release and earnings presentation materials. The Company’s non-GAAP financial measures should be viewed in addition to and not as a substitute for or superior to the Company’s reported results prepared in accordance with GAAP. Reconciliation of these non-GAAP financial measures to the nearest comparable GAAP financial measures are contained in the data tables at the end of the press release and earnings presentation materials. The information in this Item 2.02, including Exhibits 99.1 and 99.2 furnished under Item 9.01, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section. Furthermore, the information in this Item 2.02, including Exhibit 99.1 and 99.2 furnished under Item 9.01, shall not be deemed incorporated by reference into the filings of the Company under the Securities Act of 1933 or the Exchange Act.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.

Description

99.1

Press Release issued by Advantage Solutions Inc., dated August 5, 2026 regarding results for the second quarter ended June 30, 2026.

99.2

Management’s Earnings Presentation for Advantage Solutions Inc., dated August 5, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date:

August 5, 2026

ADVANTAGE SOLUTIONS INC.

By:

/s/ Christopher Growe

Christopher Growe

Chief Financial Officer

EX-99.1

Filename: adv-ex99_1.htm · Sequence: 2

EX-99.1

Financial Results

2nd Quarter 2026

Advantage Solutions Reports Second Quarter 2026 Results

Solid revenue growth driven by Experiential and Retailer Services

Reiterates full-year Revenues and Adjusted EBITDA guidance ranges

Ended the quarter with $102.3M of cash

ST. LOUIS, August 5, 2026 – Advantage Solutions Inc. (NASDAQ: ADV) (“Advantage,” “Advantage Solutions,” the “Company,” “we,” or “our”), a leading business solutions provider to consumer-packaged goods (CPG) brands and retailers, today reported financial results for the three and six months ended June 30, 2026.

Revenues for the three months ended June 30, 2026 were $889.5 million compared with $873.7 million, and net loss was $62.7 million compared with a net loss of $30.4 million.

Q2'26 Financial Highlights

Revenues increased 1.8% to $889.5 million and Adjusted EBITDA decreased 12.2% to $75.8 million

Experiential Services delivered another strong quarter driven by higher event volumes, while Branded Services remained pressured and Retailer Services was impacted by temporary project timing and execution cost headwinds

Ended the quarter with $102.3 million in cash and generated $18.7 million of adjusted unlevered free cash flow

“Clients continue to prioritize programs that deliver measurable returns, and our second consecutive quarter of revenue growth, together with accelerating demand in Experiential Services, underscores the value of the capabilities we have built across Advantage,” said Advantage CEO Dave Peacock. “As we manage temporary timing and execution pressures in Retailer Services and a more gradual recovery in Branded Services, we are reiterating full-year guidance ranges for revenues, Adjusted EBITDA, and free cash flow. We remain focused on disciplined execution, investing in data and analytics, generating free cash flow, and building a more durable, profitable Advantage.”

Consolidated Financial Summary

(amounts in thousands)

Three Months Ended June 30,

Change (Reported)

2026

2025

Total Revenues

889,450

873,707

15,743

1.8%

Total Net Loss

(62,707)

(30,440)

(32,267)

(106.0%)

Total Adjusted EBITDA

75,837

86,412

(10,575)

(12.2%)

Adjusted EBITDA Margin

8.5%

9.9%

Six Months Ended June 30,

Change (Reported)

2026

2025

Total Revenues

1,759,051

1,695,499

63,552

3.7%

Total Net Loss

(134,538)

(86,570)

(47,968)

(55.4%)

Total Adjusted EBITDA

143,582

144,593

(1,011)

(0.7%)

Adjusted EBITDA Margin

8.2%

8.5%

Advantage Solutions Inc. | Page 1

Financial Results

2nd Quarter 2026

Segment Financial Summary

Revenues

Segment

Three Months Ended June 30,

Six Months Ended June 30,

(amounts in thousands)

2026

2025

YoY (Reported)

2026

2025

YoY (Reported)

Branded Services

235,979

295,221

(20.1%)

492,971

585,062

(15.7%)

Experiential Services

416,311

347,706

19.7%

801,791

661,726

21.2%

Retailer Services

237,160

230,780

2.8%

464,289

448,711

3.5%

Total

889,450

873,707

1.8%

1,759,051

1,695,499

3.7%

Operating (Loss) Income

Three Months Ended June 30,

Six Months Ended June 30,

Segment

2026

2025

YoY (Reported)

2026

2025

YoY (Reported)

Branded Services

(24,058)

(10,540)

(128.3%)

(40,121)

(25,862)

(55.1%)

Experiential Services

18,712

10,859

72.3%

30,212

7,355

310.8%

Retailer Services

7,038

9,692

(27.4%)

15,762

13,897

13.4%

Total

1,692

10,011

(83.1%)

5,853

(4,610)

227.0%

Adjusted EBITDA

Three Months Ended June 30,

Six Months Ended June 30,

Segment

2026

2025

YoY (Reported)

2026

2025

YoY (Reported)

Branded Services

21,777

34,042

(36.0%)

42,659

61,987

(31.2%)

Experiential Services

34,182

25,886

32.0%

60,256

37,955

58.8%

Retailer Services

19,878

26,484

(24.9%)

40,667

44,651

(8.9%)

Total

75,837

86,412

(12.2%)

143,582

144,593

(0.7%)

Q2'26 Segment Highlights

Branded Services

Experiential Services

Retailer Services

More gradual recovery expected as constrained CPG spending, insourcing and select client losses pressure the business

Delivered another strong quarter, driven by sustained demo demand, expanding event volumes and strong operational execution

Results impacted by difficult prior-year comp and higher execution costs on a merchandising project

Focused on stabilizing revenues with client retention, greater client engagement, and pipeline conversion

Demand accelerating across existing clients and new vendor launches, supporting more event volume growth

Expect sequential improvement through the second half of 2026 as project activity ramps and project-related earnings volatility moderates

CPG merchandising projects were a relative bright spot, providing encouraging signs for future commercial activity

Expanding capacity and strengthening labor readiness to meet demand while upholding execution quality

Encouraging pipeline, supported by growing demand and improving visibility into second-half activity

Prioritizing measurable ROI through data, analytics and execution while investing in talent

Focused on improving profitability through labor efficiency, stronger training and safety protocols, and higher-return demos

Focused on execution discipline, staffing alignment

and operating consistency to better match costs with project activity

Advantage Solutions Inc. | Page 2

Financial Results

2nd Quarter 2026

Cash Flow and Balance Sheet Highlights

(Amounts in Millions)

Quarter Ended

June 30, 2026

Adjusted Unlevered Free Cash Flow / % of Adjusted EBITDA

$18.7 / 24.6%

Capex

$9.4

Gross Debt

$1,585

Cash and Cash Equivalents

$102

Net Leverage Ratio(1)

4.5x

Fiscal Year 2026 Outlook

(Amounts in Millions)

New Guidance

Prior Guidance

Revenues(2)

Unchanged

Flat to Up Low Single Digits

Adjusted EBITDA

Unchanged

Flat to Down Mid Single Digits

Free Cash Flow (3)

Unchanged

Unlevered: $250 – $275

Net: ~25% of EBITDA

Net Interest Expense

~ $160

$160 to $170

Capex

$45 to $55

$50 to $60

Conference Call Details

Date/Time

August 5, 2026, 8:30 am EDT

Dial-in

(10 minutes before the call)

(833) 461-5787 within the United States or +1 (585) 542-9983 outside the United States

Conference ID: 254428950

Webcast

Available at: ADV 2Q26 Earnings Webcast

Replay

Available at: Investor Relations section of the Advantage Solutions website at ir.youradv.com.

Investor Contact: investorrelations@youradv.com

Media Contact: press@youradv.com

NMF = Not Meaningful

(1) Net leverage ratio is defined as Net Debt divided by LTM Adjusted EBITDA.

(2) 2026 revenue outlook excludes reimbursable expenses.

(3) Net free cash flow is defined as cash flow from operations, less capital expenditures. Net FCF conversion of 25% is excluding incremental debt refinancing costs.

Advantage Solutions Inc. | Page 3

Financial Results

2nd Quarter 2026

About Advantage Solutions

Advantage Solutions is the leading omnichannel retail solutions agency in North America, uniquely positioned at the intersection of consumer-packaged goods (CPG) brands and retailers. With its data- and technology-powered services, Advantage leverages its unparalleled insights, expertise and scale to help brands and retailers of all sizes generate demand and get products into the hands of consumers, wherever they shop. Whether it’s creating meaningful moments and experiences in-store and online, optimizing assortment and merchandising, or accelerating e-commerce and digital capabilities, Advantage is the trusted partner that keeps commerce and life moving. Advantage has offices throughout North America and strategic investments and owned operations in select international markets. For more information, please visit YourADV.com.

Included with this press release are the Company’s consolidated and condensed financial statements as of and for the three months ended June 30, 2026. These financial statements should be read in conjunction with the information contained in the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on August 5, 2026.

Forward-Looking Statements

Certain statements in this press release may be considered forward-looking statements within the meaning of the federal securities laws, including statements regarding the expected future performance of Advantage's business and projected financial results. Forward-looking statements generally relate to future events or Advantage’s future financial or operating performance. These forward-looking statements generally are identified by the words “may”, “should”, “expect”, “intend”, “will”, “would”, “could”, “estimate”, “anticipate”, “believe”, “predict”, “confident”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements.

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Advantage and its management at the time of such statements, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, market-driven wage changes or changes to labor laws or wage or job classification regulations, including minimum wage; developments with respect to retailers that are out of our control; the impact from tariffs; future potential pandemics or health epidemics; Advantage’s ability to continue to generate significant operating cash flow; client procurement strategies and consolidation of Advantage’s clients’ industries creating pressure on the nature and pricing of its services; consumer goods manufacturers and retailers reviewing and changing their sales, retail, marketing and technology programs and relationships; Advantage’s ability to successfully develop and maintain relevant omni-channel services for our clients in an evolving industry and to otherwise adapt to significant technological change; Advantage’s ability to maintain proper and effective internal control over financial reporting in the future; Advantage’s substantial indebtedness and our ability to refinance at favorable rates; and other risks and uncertainties set forth in the section titled “Risk Factors” in the Annual Report on Form 10-K filed by the Company with the SEC on March 3, 2026, and in its other filings made from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Advantage assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Advantage Solutions Inc. | Page 4

Financial Results

2nd Quarter 2026

Non-GAAP Financial Measures and Related Information

This press release includes certain financial measures not presented in accordance with generally accepted accounting principles (“GAAP”), including Adjusted EBITDA, Adjusted EBITDA by Segment, Adjusted Unlevered Free Cash Flow and Net Debt. These are not measures of financial performance calculated in accordance with GAAP and may exclude items that are significant in understanding and assessing Advantage’s financial results. Therefore, the measures are in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP, and should not be considered in isolation or as an alternative to net income, cash flows from operations or other measures of profitability, liquidity or performance under GAAP. You should be aware that Advantage’s presentation of these measures may not be comparable to similarly titled measures used by other companies. Reconciliations of historical non-GAAP measures to their most directly comparable GAAP counterparts are included below.

Advantage believes these non-GAAP measures provide useful information to management and investors regarding certain financial and business trends relating to Advantage’s financial condition and results of operations. Advantage believes that the use of Adjusted, Adjusted EBITDA by Segment, Adjusted Unlevered Free Cash Flow, and Net Debt provide an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing Advantage’s financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. Non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. Additionally, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore Advantage’s non-GAAP measures may not be directly comparable to similarly titled measures of other companies.

Adjusted EBITDA consists of net loss before interest, taxes, depreciation and amortization, further adjusted for (i) non-operating income or expense and (ii) the impact of certain non-cash, nonrecurring or other items included in net (loss) income that we do not consider indicative of our ongoing operating performance, which may include acquisition and divestiture related expenses, gains and losses; gains and losses on extinguishments of debt; litigation expenses, net of recoveries on matters not representative of our ongoing business; impairment charges on goodwill, intangible assets and non-marketable securities; incremental expenses on restructuring and reorganization activities associated with certain transformation programs; further adjusted for the related income tax impact associated with these items. A full list of adjustments to net loss are provided in the reconciliations presented below.

Adjusted EBITDA by Segment consists of operating (loss) income by segment before interest, taxes, depreciation and amortization, further adjusted for the impact of certain non-cash, nonrecurring or other items included in net (loss) income that we do not consider indicative of our ongoing operating performance, which may include acquisition and divestiture related expenses, gains and losses; gains and losses on extinguishments of debt; litigation expenses, net of recoveries on matters not representative of our ongoing business; impairment charges on goodwill, intangible assets and non-marketable securities; incremental expenses on restructuring and reorganization activities associated with certain transformation programs; further adjusted for the related income tax impact associated with these items. A full list of adjustments to operating income (loss) are provided in the reconciliations presented below.

Adjusted EBITDA Margin means Adjusted EBITDA divided by total revenues.

Adjusted Unlevered Free Cash Flow represents net cash provided by (used in) operating activities less purchase of property and equipment as disclosed in the Statements of Cash Flows further adjusted by (i) cash payments for interest, (ii) cash received from interest rate derivatives, (iii) cash paid for income taxes; (iv) cash paid for acquisition and divestiture related expenses, (v) cash paid for restructuring expenses, (vi) cash paid for reorganization expenses, (vii) cash paid for contingent earnout payments included in operating cash flow, (viii) COVID-19 benefits received, (ix) net effect of foreign currency fluctuations on cash, and (x) other adjustments that management believes are helpful in evaluating our operating performance. Adjusted Unlevered Free Cash Flow as a percentage of Adjusted EBITDA means Adjusted Unlevered Free Cash Flow divided by Adjusted EBITDA.

Net Debt represents the sum of current portion of long-term debt and long-term debt, less cash and cash equivalents. With respect to Net Debt, cash and cash equivalents are subtracted from the GAAP measure, total debt, because they could be used to reduce the debt obligations. We present Net Debt because we believe this non-GAAP measure provides useful information to management and investors regarding certain financial and business trends relating to the Company’s financial condition and to evaluate changes to the Company's capital structure and credit quality assessment.

Advantage Solutions Inc. | Page 5

Financial Results

2nd Quarter 2026

Advantage Solutions Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

Three Months Ended June 30,

Six Months Ended June 30,

(in thousands, except share and per share data)

2026

2025

2026

2025

Revenues

$889,450

$873,707

$1,759,051

$1,695,499

Cost of revenues (exclusive of depreciation and amortization shown separately below)

783,831

746,932

1,545,405

1,469,686

Selling, general, and administrative expenses

50,924

68,657

104,233

133,522

Depreciation and amortization

51,271

50,698

102,842

101,059

Loss on divestiture, net

1,732

—

718

—

Income from investments in European joint venture

—

(2,591)

—

(4,158)

Total operating expenses

887,758

863,696

1,753,198

1,700,109

Operating income (loss)

1,692

10,011

5,853

(4,610)

Other expenses (income):

Interest expense, net

39,963

35,814

74,761

70,174

Income from unconsolidated investments

(2,389)

—

(4,861)

—

Other expense, including debt fees

5,000

25,352

Total other expenses, net

42,574

35,830

95,252

70,200

Loss before income tax expense

(40,882)

(25,819)

(89,399)

(74,810)

Income tax expense

21,825

4,621

45,139

11,760

Net loss

$(62,707)

$(30,440)

$(134,538)

$(86,570)

Basic loss per common share

$(4.85)

$(2.35)

$(10.35)

$(6.70)

Diluted loss per common share

$(4.85)

$(2.35)

$(10.35)

$(6.70)

Weighted-average number of common shares:

Basic

12,916,928

12,972,587

12,996,965

12,920,253

Diluted

12,916,928

12,972,587

12,996,965

12,920,253

Advantage Solutions Inc. | Page 6

Financial Results

2nd Quarter 2026

Advantage Solutions Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

(in thousands, except share data)

June 30,

2026

December 31, 2025

ASSETS

Current assets

Cash and cash equivalents

102,306

240,850

Restricted cash

12,159

12,137

Accounts receivable, net of allowance for expected credit losses of $19,126 and $16,771, respectively

634,900

594,999

Prepaid expenses and other current assets

80,977

124,629

Total current assets

830,342

972,615

Property, equipment, and capitalized software, net

121,578

115,858

Goodwill

438,900

Other intangible assets, net

909,299

993,927

Investments in unconsolidated affiliates

202,846

234,138

Other assets

36,747

37,977

Total assets

2,539,712

2,793,415

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities

Current portion of long-term debt, net

25,274

13,250

Accounts payable

176,148

162,376

Accrued compensation and benefits

118,152

121,105

Other accrued expenses

118,265

105,449

Deferred revenues

25,043

30,454

Total current liabilities

462,882

432,634

Long-term debt, net of current portion

1,515,972

1,660,611

Deferred income tax liabilities

107,763

90,023

Other long-term liabilities

51,276

56,189

Total liabilities

2,137,893

2,239,457

Commitments and contingencies (Note 10)

Equity attributable to stockholders of Advantage Solutions Inc.

Common stock, $0.0001 par value, 197,400,000 shares authorized; 12,824,638 and 13,058,852 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively

Additional paid in capital

3,439,506

3,489,020

Accumulated deficit

(3,003,885

)

(2,869,347

)

Loans to Karman Topco L.P.

(7,996

)

(7,673

)

Accumulated other comprehensive loss

(10,073

)

(4,158

)

Treasury stock, at cost; 511,636 and 515,781 shares as of June 30, 2026 and December 31, 2025, respectively

(15,734

)

(53,885

)

Total stockholders' equity

401,819

553,958

Total liabilities and stockholders' equity

2,539,712

2,793,415

Advantage Solutions Inc. | Page 7

Financial Results

2nd Quarter 2026

Advantage Solutions Inc.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

Six Months Ended June 30,

(in thousands)

2026

2025

CASH FLOWS FROM OPERATING ACTIVITIES

Net loss

$(134,538)

$(86,570)

Adjustments to reconcile net loss to net cash provided by (used in) operating activities

Non-cash adjustments on derivatives and non-cash interest income

(1,242)

(3,298)

Amortization of deferred financing fees

3,425

3,502

Deferred financing costs recognized at debt modification

1,178

—

Depreciation and amortization

102,842

101,059

Deferred income taxes

17,749

(1,439)

Equity-based compensation of Karman Topco L.P.

—

(1,524)

Stock-based compensation

9,177

13,069

Gain on repurchases of Senior Secured Notes and Term Loan Facility debt

—

(1,624)

Loss on divestiture, net

718

—

Income from unconsolidated investments

(4,861)

(4,158)

Distribution received from equity method investments

2,883

—

Impairment and restructuring costs

12,056

931

Other

—

Changes in operating assets and liabilities:

Accounts receivable, net

(43,339)

(66,433)

Prepaid expenses and other assets

43,104

(17,207)

Accounts payable

14,304

19,185

Accrued compensation and benefits

(5,862)

(3,479)

Deferred revenues

(5,322)

7,420

Other accrued expenses and other liabilities

4,940

(7,189)

Net cash provided by (used in) operating activities

17,212

(47,728)

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of investments in unconsolidated affiliates

(2,075)

(3,458)

Purchase of property and equipment and development of capitalized software

(20,839)

(17,219)

Proceeds from divestitures

40,919

—

Net cash provided by (used in) investing activities

18,005

(20,677)

CASH FLOWS FROM FINANCING ACTIVITIES

Borrowings under lines of credit

40,000

80,000

Payments on lines of credit

(40,000)

(80,000)

Payment of deferred financing fees for line of credit modification

(13,702)

—

Principal payments on long-term debt

(137,785)

(6,625)

Repurchases of Senior Secured Notes and Term Loan Facility

—

(18,243)

Proceeds from 2020 Employee Stock Purchase Plan

744

993

Payments for taxes related to net share settlement of equity awards

(4,310)

(3,624)

Purchase of treasury stock

(16,974)

(869)

Net cash used in financing activities

(172,027)

(28,368)

Net effect of foreign currency changes on cash, cash equivalents and restricted cash

(1,712)

(3,775)

Net change in cash, cash equivalents and restricted cash

(138,522)

(100,548)

Cash, cash equivalents and restricted cash, beginning of period

252,987

220,751

Cash, cash equivalents and restricted cash, end of period

$114,465

$120,203

SUPPLEMENTAL CASH FLOW INFORMATION

Purchases of property and equipment and development of capitalized software recorded in accounts payable and accrued expenses

$5,845

$4,841

Advantage Solutions Inc. | Page 8

Financial Results

2nd Quarter 2026

Advantage Solutions Inc.

Reconciliation of Net Loss to Adjusted EBITDA

(Unaudited)

Three Months Ended

June 30,

Six Months Ended

June 30,

(in thousands)

2026

2025

2026

2025

Net loss

$(62,707)

$(30,440)

$(134,538)

$(86,570)

Interest expense, net

39,963

35,814

74,761

70,174

Income tax expense

21,825

4,621

45,139

11,760

Depreciation and amortization

51,271

50,698

102,842

101,059

Stock-based compensation expense

7,177

6,584

9,177

13,069

Debt financing costs (a)

—

20,352

—

Restructuring expenses (b)

4,098

—

6,344

931

Reorganization and transformation-related expenses (c)

5,485

16,434

10,942

28,674

Acquisition and divestiture expenses, net of (gains) losses (d)

1,846

1,070

480

Litigation expenses, net of recoveries (e)

394

646

758

1,477

Impairment of non-marketable equity securities (f)

5,000

—

5,000

—

COVID-19 government relief payments received

—

(715)

—

(715)

Equity-based compensation of Karman Topco L.P. (g)

—

(1,524)

EBITDA from economic interests in investments (h)

1,485

2,697

1,735

5,752

Other

—

Adjusted EBITDA

$75,837

$86,412

$143,582

$144,593

Advantage Solutions Inc. | Page 9

Financial Results

2nd Quarter 2026

Advantage Solutions Inc.

Reconciliation of Operating (loss) Income to Adjusted EBITDA by Segment

(Unaudited)

Branded Services segment

Three Months Ended

June 30,

Six Months Ended

June 30,

(in thousands)

2026

2025

2026

2025

Operating loss

$(24,058)

$(10,540)

$(40,121)

$(25,862)

Depreciation and amortization

31,073

31,561

62,396

63,023

Stock-based compensation expense

2,689

2,370

3,200

4,542

Restructuring expenses (b)

4,085

—

5,475

358

Reorganization and transformation-related expenses (c)

2,261

7,741

3,935

13,196

Acquisition and divestiture expenses, net of (gains) losses (d)

1,767

990

384

Litigation expenses, net of recoveries (e)

452

188

934

COVID-19 government relief payments received

—

(245)

—

(245)

Equity-based compensation of Karman Topco L.P. (g)

—

(95)

EBITDA for economic interests in investments (h)

3,874

2,697

6,596

5,752

Branded Services segment Adjusted EBITDA

$21,777

$34,042

$42,659

$61,987

Retailer Services segment

Three Months Ended

June 30,

Six Months Ended

June 30,

(in thousands)

2026

2025

2026

2025

Operating income

$7,038

$9,692

$15,762

$13,897

Depreciation and amortization

8,874

8,453

17,823

16,815

Stock-based compensation expense

2,410

2,367

3,303

4,888

Restructuring expenses (b)

—

394

387

Reorganization and transformation-related expenses (c)

1,428

6,145

3,161

9,349

Acquisition and divestiture expenses, net of (gains) losses (d)

(16)

Litigation expenses, net of recoveries (e)

188

215

COVID-19 government relief payments received

—

(222)

—

(222)

Equity-based compensation of Karman Topco L.P. (g)

—

(700)

Retailer Services segment Adjusted EBITDA

$19,878

$26,484

$40,667

$44,651

Experiential Services segment

Three Months Ended

June 30,

Six Months Ended

June 30,

(in thousands)

2026

2025

2026

2025

Operating income

$18,712

$10,859

$30,212

$7,355

Depreciation and amortization

11,324

10,684

22,623

21,221

Stock-based compensation expense

2,078

1,847

2,674

3,639

Restructuring expenses (b)

—

475

186

Reorganization and transformation-related expenses (c)

1,796

2,548

3,846

6,129

Acquisition and divestiture expenses, net of (gains) losses (d)

Litigation expenses, net of recoveries (e)

221

129

382

328

COVID-19 government relief payments received

—

(248)

—

(248)

Equity-based compensation of Karman Topco L.P. (g)

—

(729)

Experiential Services segment Adjusted EBITDA

$34,182

$25,886

$60,256

$37,955

Advantage Solutions Inc. | Page 10

Financial Results

2nd Quarter 2026

Advantage Solutions Inc.

Net Debt and Adjusted Unlevered Free Cash Flow Reconciliation

(Unaudited)

(amounts in thousands)

June 30, 2026

Current portion of long-term debt

25,274

Long-term debt, net of current portion

1,559,827

Total debt

1,585,101

Less: Cash and cash equivalents

102,306

Total Net Debt

1,482,795

LTM Adjusted EBITDA

330,797

Net Debt / LTM Adjusted EBITDA ratio

4.5x

(amounts in thousands)

Three Months Ended June 30, 2026

Net cash used in operating activities

(6,516

)

Less:

Purchase of property and equipment and development of capitalized software

(9,438

)

Add:

Cash payments for interest

18,732

Cash payments for income taxes

4,203

Cash paid for acquisition and divestiture related expenses

114

Cash paid for restructuring expenses

691

Cash paid for reorganization expenses

11,050

Net effect of foreign currency fluctuations on cash

(147

)

Adjusted Unlevered Free Cash Flow

18,689

Numerator - Adjusted Unlevered Free Cash Flow

18,689

Denominator - Adjusted EBITDA

75,837

Adjusted Unlevered Free Cash Flow as a percentage of Adjusted EBITDA

24.6

Advantage Solutions Inc. | Page 11

Financial Results

2nd Quarter 2026

Twelve Months Ended

June 30, 2026

(in thousands)

Net loss

$(275,703)

Interest expense, net

143,523

Income tax expense

(4,205)

Depreciation and amortization

204,041

Impairment of goodwill and indefinite-lived assets

203,685

Stock-based compensation expense

23,023

Debt financing costs (a)

20,352

Restructuring expenses (b)

6,344

Reorganization and transformation-related expenses (c)

45,207

Acquisition and divestiture expenses, net of (gains) losses (d)

(25,156)

Litigation expenses, net of recoveries (e)

(20,306)

Impairment of non-marketable equity securities (f)

5,000

COVID-19 government relief payments received

(5,008)

Equity-based compensation of Karman Topco L.P. (g)

—

EBITDA from economic interests in investments (h)

10,108

Other

(108)

LTM Adjusted EBITDA

$330,797

(a)

Debt financing costs, of which $1.2 million is reported as "Interest expense, net" and $20.4 million is reported as "Other income (expense)" in the Condensed Consolidated Statements of Operations and Comprehensive Loss, represent the portion of debt financing costs incurred in connection with the refinancing of our 2030 Notes and 2030 Term Loan Facility.

(b)

Restructuring expenses consist primarily of employee termination costs, contract termination fees, and workforce transition costs, including employee rebadging to a third-party service provider. In the three months ended June 30, 2026, $3.0 million of these expenses were charged to "Cost of revenues" in the Condensed Consolidated Statements of Operations and Comprehensive Loss. For all other periods presented, the remaining restructuring expenses were reported in "Selling, general and administrative expenses" in the Condensed Consolidated Statements of Operations and Comprehensive Loss.

(c)

Reorganization and transformation-related expenses represent professional fees associated internal reorganization activities, incremental and nonrecurring implementation costs associated with our multi-year global ERP transformation, and setup costs associated with transitioning certain support activities to third-party outsourcing providers.

(d)

Acquisition and divestiture expenses, net of (gains) losses on disposal represent fees and other expenses associated with activities related to acquisitions and divestitures, including (gains) or losses on business sales along with adjustments to the estimated fair value of contingent consideration or adjustments to working capital.

(e)

Litigation expenses, net of recoveries represent legal expenses, including costs associated with investigation and remediation activities, and estimated settlement reserves, net of recoveries from responsible parties and/or insurance providers that are not representative of our ongoing business operations.

(f)

Impairment of non-marketable equity securities, as reported in "Other income (expense)" in the Condensed Consolidated Statements of Operations and Comprehensive Loss, represents a non-cash fair value adjustment associated with a minority investment in a technology-enabled retail support company.

(g)

Equity-based compensation of Karman Topco L.P. represents non-cash changes in the estimated value of certain stock units due to investors of Advantage Solutions, Inc.

(h)

EBITDA for economic interests in investments represents additions to reflect our proportional share of Adjusted EBITDA related to our equity method investments.

Advantage Solutions Inc. | Page 12

EX-99.2

Filename: adv-ex99_2.htm · Sequence: 3

Q2’26Earnings August 5th, 2026

Disclaimer Forward-Looking Statements Advantage Solutions Inc. (the “Company”) is a provider of outsourced solutions to consumer packaged goods (“CPG”)_brands and retailers. The Company’s Class A common stock is listed on the Nasdaq Global Select Market under the symbol “ADV.” Certain statements in this presentation may be considered forward-looking statements within the meaning of the federal securities laws, including statements regarding the expected future performance of Advantage's business and projected financial results. Forward-looking statements generally relate to future events or Advantage’s future financial or operating performance. These forward-looking statements generally are identified by the words “may”, “should”, “expect”, “intend”, “will”, “would”, “could”, “estimate”, “anticipate”, “believe”, “predict”, “confident”, “potential”, “guidance”, or “continue”, or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Advantage and its management at the time of such statements, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, market-driven wage changes or changes to labor laws or wage or job classification regulations, including minimum wage; developments with respect to retailers that are out of our control; the impact from tariffs; Advantage’s ability to continue to generate significant operating cash flow; client procurement strategies and consolidation of Advantage’s clients’ industries creating pressure on the nature and pricing of its services; consumer goods manufacturers and retailers reviewing and changing their sales, retail, marketing, and technology programs and relationships; Advantage’s ability to successfully develop and maintain relevant omni-channel services for our clients in an evolving industry and to otherwise adapt to significant technological change; a future pandemic or health epidemic; Advantage’s ability to maintain proper and effective internal control over financial reporting in the future; Advantage’s substantial indebtedness and our ability to refinance at favorable rates; and other risks and uncertainties set forth in the section titled “Risk Factors” in the Annual Report on Form 10-K filed by Advantage with the Securities and Exchange Commission (the “SEC”) on March 3, 2026, and in its other filings made from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Advantage assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Non-GAAP Financial Measures and Related Information This presentation includes certain financial measures not presented in accordance with generally accepted accounting principles (“GAAP”), Adjusted EBITDA, Adjusted EBITDA by Segment, Adjusted EBITDA margin, Revenues net of reimbursable expenses, Net Debt, Adjusted Unlevered Free Cash Flow, and Adjusted Unlevered Free Cash Flow and net debt as a percentage of Last Twelve Months (“LTM”) Adjusted EBITDA. These are not measures of financial performance calculated in accordance with GAAP and may exclude items that are significant in understanding and assessing Advantage’s financial results. Therefore, the measures are in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP, and should not be considered in isolation or as an alternative to net income, cash flows from operations or other measures of profitability, liquidity or performance under GAAP. You should be aware that Advantage’s presentation of these measures may not be comparable to similarly-titled measures used by other companies. Reconciliations of historical non-GAAP measures to their most directly comparable GAAP counterparts are included in this document. Advantage believes these non-GAAP measures provide useful information to management and investors regarding certain financial and business trends relating to Advantage’s financial condition and results of operations. Advantage believes that the use of Adjusted EBITDA by Segment, Adjusted Unlevered Free Cash Flow, and Net Debt provide an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing Advantage’s financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. Non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. Additionally, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore Advantage’s non-GAAP measures may not be directly comparable to similarly titled measures of other companies. Adjusted EBITDA consists of net (loss) income before interest, taxes, depreciation and amortization, further adjusted for (i) non-operating income or expense and (ii) the impact of certain non-cash, nonrecurring or other items included in net (loss) income that we do not consider indicative of our ongoing operating performance, which may include acquisition and divestiture related expenses, gains and losses; gains and losses on extinguishments of debt; litigation expenses, net of recoveries on matters not representative of our ongoing business; impairment charges on goodwill, intangible assets and non-marketable securities; incremental expenses on restructuring and reorganization activities associated with certain transformation programs; further adjusted for the related income tax impact associated with these items. A full listing of adjustments to net (loss) income are provided elsewhere in this document. Adjusted EBITDA by Segment consists of operating income (loss) by segment before interest, taxes, depreciation and amortization, further adjusted for the impact of certain non-cash, nonrecurring or other items included in net (loss) income that we do not consider indicative of our ongoing operating performance, which may include acquisition and divestiture related expenses, gains and losses; gains and losses on extinguishments of debt; litigation expenses, net of recoveries on matters not representative of our ongoing business; impairment charges on goodwill, intangible assets and non-marketable securities; incremental expenses on restructuring and reorganization activities associated with certain transformation programs; further adjusted for the related income tax impact associated with these items. A full listing of adjustments to operating are provided elsewhere in this document. Adjusted EBITDA Margin means Adjusted EBITDA divided by net revenues. Revenues net of reimbursable expenses ("net revenues") and by segment means revenues less reimbursable expenses that are paid by Advantage's clients, including media, product samples, retailer fees, and other marketing and production costs. Net Debt represents the sum of current portion of long-term debt and long-term debt, less cash and cash equivalents. With respect to Net Debt, cash and cash equivalents are subtracted from the GAAP measure, total debt, because they could be used to reduce the debt obligations. We present Net Debt because we believe this non-GAAP measure provides useful information to management and investors regarding certain financial and business trends relating to the Company’s financial condition and to evaluate changes to the Company's capital structure and credit quality assessment. Adjusted Unlevered Free Cash Flow represents net cash provided by (used in) operating activities less purchase of property and equipment as disclosed in the Statements of Cash Flows further adjusted by (i) cash payments for interest, (ii) cash received from interest rate derivatives, (iii) cash paid for income taxes; (iv) cash paid for acquisition and divestiture related expenses, (v) cash paid for restructuring expenses, (vi) cash paid for reorganization expenses, (vii) cash paid for contingent earnout payments included in operating cash flow, (viii) COVID-19 benefits received, (ix) net effect of foreign currency fluctuations on cash, and (x) other adjustments that management believes are helpful in evaluating our operating performance. Adjusted Unlevered Free Cash Flow as a percentage of Adjusted EBITDA means Adjusted Unlevered Free Cash Flow divided by Adjusted EBITDA. Due to rounding, numbers presented throughout this document may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. 2

Q2’26: Resilient Performance In Dynamic Market Environment Net revenues growth driven by continued strength in Experiential Services, moderate growth in Retailer Services, and offset by ongoing pressure in Branded Services Solid cash generation supported by disciplined cost management and working capital execution, with full-year free cash flow guidance reaffirmed Growth and productivity initiatives, supported by centralized labor, enterprise tech investments and AI, continue to drive execution, efficiency and service quality Remain on track to complete the heavy lifting of our enterprise technology transformation in 2026, and more fully realize the benefits in 2027 Net revenues and Adjusted EBITDA full-year guidance ranges reaffirmed; remain focused on disciplined execution, cash generation and profitable growth Revenues growth(1) to $757M +2.9% Adj. EBITDA (1) growth to $76M -12.2% Adjusted Unlevered Free Cash Flow(1) $18.7M Net Leverage Ratio(2) 4.5x Net Revenues (Revenues, net of reimbursable expenses), Adjusted EBITDA (Earnings before Interest, Taxes, Depreciation and amortization, and other non-recurring items), and Adjusted Unlevered Free Cash Flows are non-GAAP measures. Refer to the Appendix for a reconciliation to the most directly comparable GAAP measure. Net Leverage Ratio calculated as Net Debt divided by LTM Adjusted EBITDA 3

Disciplined execution of growth and productivity initiatives positions the business for consistent and profitable growth Continued Focus On Growth and Productivity Initiatives For Long Term Value Creation 4 Growth Initiatives Supporting Demand, Scale and Client Value Experiential demand continues to accelerate, with opportunities to expand event volumes across existing clients and support new vendor launches Increasing focus on scalable merchandising programs that deepen client relationships and expand service penetration Pulse™ is improving visibility into on-shelf availability, item velocity and distribution gaps, enabling more targeted field execution Clients continue prioritizing measurable ROI, creating opportunities to expand programs that drive trial, discovery and conversion Productivity Initiatives Driving Execution, Efficiency and Margins Centralized labor planning continues to improve workforce visibility, staffing flexibility and execution quality Enterprise technology transformation continues strengthening data integrity, process discipline and operating visibility across the business Established enterprise AI governance and strategic partnerships to accelerate practical AI adoption, including in recruiting, onboarding, compliance and resource deployment. Expect to increasingly realize the operational and financial benefits of these technology investments beginning in 2027

Business Segment Updates Retailer Services Branded Services Experiential Services More gradual recovery expected as constrained CPG spending, insourcing and select client losses pressure the business   Focused on stabilizing revenues with client retention, greater client engagement, and pipeline conversion  CPG merchandising projects were a relative bright spot, providing encouraging signs for future commercial activity Prioritizing measurable ROI through data, analytics and execution while investing in talent Delivered another strong quarter, driven by sustained demo demand, expanding event volumes and strong operational execution Demand accelerating across existing clients and new vendor launches, supporting more event volume growth Expanding capacity and strengthening labor readiness to meet demand while upholding execution quality Focused on improving profitability through labor efficiency, stronger training and safety protocols, and higher-return demos Results impacted by difficult prior-year comp and higher execution costs on a merchandising project Expect sequential improvement through 2H as project activity ramps and project-related earnings volatility moderates Encouraging pipeline, supported by growing demand and improving visibility into second-half activity Focused on execution discipline, staffing alignment and operating consistency to better match costs with project activity 5 Experiential Services continues to lead growth, while focused execution is positioning the broader portfolio for improved performance.

2026 Outlook Largely Unchanged 6 (1) Revenues excludes reimbursable expenses (2) Net free cash flow is defined as cash flow from operations, less capital expenditures. Net free cash flow conversion excludes debt refinancing costs. See the Appendix for a reconciliation of Adjusted EBITDA and Adjusted UFCF non-GAAP financial measures to the most comparable GAAP measure Revenues and Adjusted EBITDA Revenues(1) full-year guidance range reaffirmed, supported by continued strength in Experiential Services and successful execution of growth initiatives Adjusted EBITDA guidance range also reaffirmed and incorporates investments Cash Flow Adjusted unlevered free cash flow guidance reaffirmed at $250–275 million, expected DSO improvement, disciplined working capital management and strong cash generation Net free cash flow conversion(2) guidance reaffirmed at approximately 25%; excess free cash flow remains prioritized for debt reduction while maintaining financial flexibility 2026 Guidance Balanced outlook reflects continued Experiential strength, improving Retailer Services execution and a more gradual Branded Services recovery Focused on disciplined execution, cash generation and technology-enabled productivity while positioning the business for long-term profitable growth

$873.7 Highlights Revenue growth driven by continued strength in Experiential Services, moderate growth in Retailer Services, and offset by pressure in Branded Services. Revenues grew 3.6% proforma for divestitures Adjusted EBITDA was impacted by business mix headwinds, higher project costs in Retailer Services, and continued investments in our people and capabilities. Adjusted EBITDA was down 9.2% excluding divestitures. Growth and productivity initiatives continue to gain traction, supported by centralized labor planning, enterprise technology transformation and practical AI deployment Reiterating 2026 Revenues and Adjusted EBITDA guidance ranges Revenue Growth Supported by Strong Execution and Productivity Initiatives (1) Revenue growth rate and Adjusted EBITDA margins exclude reimbursable expenses. (2) Adjusted EBITDA (Earnings before Interest, Taxes, Depreciation, Amortization, and non-recurring items) is a non-GAAP financial measure. See the Appendix for a reconciliation of non-GAAP financial measures to most directly comparable GAAP measures. Totals may not add due to rounding. (12.2)% Revenues Net of Reimbursable Expenses Reimbursable Expenses 7 2.9%(1) Revenues $ in millions Y/Y growth % margin $ in millions Y/Y growth Adjusted EBITDA(2) $889.5 10.0%(1) 11.7%(1)

$295.2 (1) Revenue growth rate and Adjusted EBITDA margins exclude reimbursable expenses. (2) Adjusted EBITDA (Earnings before Interest, Taxes, Depreciation, Amortization, and non-recurring items) is a non-GAAP financial measure. See the Appendix for a reconciliation of non-GAAP financial measures to most directly comparable GAAP measures. Totals may not add due to rounding. (36.0)% % margin Executing to Stabilize Performance $ in millions Y/Y growth Adjusted EBITDA(2) BRANDED SERVICES $ in millions Y/Y growth 8 Revenues Revenues Net of Reimbursable Expenses Reimbursable Expenses (12.6)%(1) $236.0 9.7%(1) 13.3%(1) Highlights Revenues were down 12.6%, but would have been down 10.9% excluding divestitures More gradual recovery expected as constrained CPG spending, insourcing and select client losses pressure the business Focused on stabilizing revenues with stronger client retention, executive engagement, and pipeline conversion CPG merchandising projects were a relative bright spot, providing encouraging signs for future commercial activity Adjusted EBITDA was down 36%, but would have been down 30% excluding divestitures.

$347.7 (1) Revenue growth rate and Adjusted EBITDA margins exclude reimbursable expenses. (2) Adjusted EBITDA (Earnings before Interest, Taxes, Depreciation, Amortization, and non-recurring items) is a non-GAAP financial measure. See the Appendix for a reconciliation of non-GAAP financial measures to most directly comparable GAAP measures. Totals may not add due to rounding. % margin Strong Demand and Execution Driving Profitable Growth Adjusted EBITDA(2) $ in millions Y/Y growth $ in millions Y/Y growth 9 EXPERIENTIAL SERVICES Revenues Revenues Net of Reimbursable Expenses Reimbursable Expenses 18.9%(1) 32.0% $416.3 11.6%(1) 10.4%(1) Highlights Delivered another strong quarter, driven by sustained demo demand, expanding event volumes and strong operational execution Demand continues to accelerate across existing clients and new vendor launches, supporting more event volume growth Expanding capacity and strengthening labor readiness to support increasing demand while maintaining high execution quality Solid international growth continued again this quarter at higher event per day rates providing a blueprint for accelerated growth potential in the U.S. Focused on improving profitability through labor efficiency, stronger training and safety protocols, and higher-return demos

(1) Revenue growth rate and Adjusted EBITDA margins exclude reimbursable expenses. (2) Adjusted EBITDA (Earnings before Interest, Taxes, Depreciation, Amortization, and non-recurring items) is a non-GAAP financial measure. See the Appendix for a reconciliation of non-GAAP financial measures to most directly comparable GAAP measures. Totals may not add due to rounding. 2.8%(1) % margin Building Momentum Despite Temporary Headwinds Adjusted EBITDA(2) 10 $ in millions Y/Y growth $ in millions Y/Y growth RETAILER SERVICES Revenues (24.9)% 8.4%(1) 11.5%(1) Highlights Results impacted by temporary project timing, difficult prior-year comp and higher execution costs on a merchandising project We saw modest growth in private label with less channel mix drag again this quarter We expect Revenues and Adjusted EBITDA growth in 2H, as larger project activity ramps and project-related earnings volatility moderates Project pipeline is encouraging, supported by growing customer demand and improving visibility into second-half activity Focused on execution discipline, staffing alignment and operating consistency to better match costs with project activity

Liquidity and Financial Flexibility As of June 30, 2026 $ in millions Maturity Outstanding 2030 Term Loan Facility 2030 $1,022 9.0% Senior Secured Notes 2030 $561 6.5% Senior Secured Notes 2028 $2 Asset-Based Lending (ABL) $0 Total Gross Debt $1,585 Less: Cash and Cash Equivalents (102) Total Net Debt(1) $1,483 Net Debt Overview Maturity Schedule (1) Net debt is a non-GAAP financial measure. See the Appendix for a reconciliation of non-GAAP financial measures to most directly comparable GAAP measures. 11 $~400M of availability under credit facility (ABL) Capacity is reduced by $62.0M in letters of credit 4.5x Net Debt / LTM Adj. EBITDA; ~67% hedged / fixed $ in millions

Continued Strength in Cash Generation Supporting Disciplined Capital Allocation Framework Capital Allocation Working Capital and Cash Generation 12 (1) Adjusted Unlevered Free Cash Flow. See the Appendix for a reconciliation to the most directly comparable GAAP measure ► Ended the second quarter with $102 million in cash, reflecting disciplined capital management and strong liquidity ► Reduced $138 million in debt YTD ► Repurchased $17 million of shares YTD including approximately $15 million of shares during Q2, to offset dilution ► Net leverage was 4.5x at the end of the quarter, and we are focused on reaching long-term target of 3.5x or below ► Excess free cash flow will continue to be prioritized toward debt reduction ► Disciplined capital allocation remains focused on strengthening the balance sheet and supporting long-term shareholder value ► Cash generation remains a core strength, supported by disciplined cost management and working capital execution ► Maintaining disciplined working capital management while completing the enterprise technology transformation ► Second quarter Adjusted Unlevered Free Cash Flow(1) of $18.7 million with conversion of 24.6% ► DSOs remained elevated due primarily to SAP implementation which is expected to normalize over time ► Expected DSO improvement through the second half, supporting strong full-year cash flow generation

2026 Guidance 2026 full year guidance adjustments $ in millions, unless otherwise noted New Full Year 2026 Guidance Prior Full Year 2026 Guidance Revenues(1) Unchanged Flat to Up Low-Single Digits Adjusted EBITDA Unchanged Flat to Down Mid-Single Digits Free Cash Flow(2) Unchanged Adjusted Unlevered: $250 – $275 Net(2): ~25% of EBITDA Net Interest Expense ~ $160 ~ $160 to $170 Capex $45 to $55 $50 - $60 (1) Revenues excludes reimbursable expenses. (2) Net free cash flow is defined as cash flow from operations, less capital expenditures. Net FCF conversion of 25% is excluding incremental debt refinancing costs. See the Appendix for a reconciliation of Adjusted EBITDA and Adjusted UFCF non-GAAP financial measures to the most comparable GAAP measure. All information excludes divestitures and acquisitions 13 Long-Term Net Leverage Target: < 3.5x 2026 Commentary Revenues guidance range unchanged, supported by continued strength in Experiential Services and successful execution of growth initiatives Adjusted EBITDA guidance range also unchanged and incorporates investments in business and teammates Adjusted Unlevered Free Cash Flow guidance of $250–275 million and net free cash flow conversion of approximately 25% reaffirmed Expect sequential improvement in Retailer Services in 2H and more gradual pace of recovery in Branded Services.

Appendix 14

Net Loss to Adjusted EBITDA Non-GAAP Reconciliation (1/8) 15

Branded Services Segment Operating Loss to Adjusted EBITDA Non-GAAP Reconciliation (2/8) 16

Experiential Services Segment Operating Income to Adjusted EBITDA Non-GAAP Reconciliation (3/8) 17

Retailer Services Segment Operating Income to Adjusted EBITDA Non-GAAP Reconciliation (4/8) 18

Revenues to Revenues, Net of Reimbursable Expenses Non-GAAP Reconciliation (5/8) 19

Adjusted Unlevered Free Cash Flow Non-GAAP Reconciliation (6/8) 20

LTM Adjusted EBITDA, Net Debt and Net Debt to Adjusted EBITDA Ratio Non-GAAP Reconciliation (7/8) 21

Footnotes Non-GAAP Reconciliation (8/8) 22

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