SunTrust Robinson Humphrey 2017 Financial Technology, Business & Government Services Summit

DISCLOSURE STATEMENT Statements included in this presentation which are not historical in nature are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements may generally be identified by words such as anticipate, believe, may, could, intend, estimate, expect, plan, outlook and similar expressions. These statements are based upon management s current expectations and speak only as of the date of this press release. The Company cautions readers that there may be events in the future that the Company is not able to accurately predict or control and the information contained in the forwardlooking statements is inherently uncertain and subject to a number of risks that could cause actual results to differ materially from those contained in or implied by the forward-looking statements including, without limitation: the execution of the Company s long-term growth objectives and margin improvement initiatives; risks inherent in international operations, including foreign currency fluctuations; ability to make acquisitions and divestitures; pace, timing and integration of acquisitions and separation of divestitures; operational risks associated with new or expanded service areas, including business process management services; impairments; changes in accounting standards or tax rates, laws or regulations; management of professional staff, including dependence on key personnel, recruiting, retention, attrition and the ability to successfully integrate new consultants into the Company s practices; utilization rates; conflicts of interest; potential loss of clients or large engagements and the Company s ability to attract new business; brand equity; competition; accurate pricing of engagements, particularly fixed fee and multi-year engagements; clients financial condition and their ability to make payments to the Company; risks inherent with litigation; higher risk client assignments; government contracting; professional liability; information security; the adequacy of our business, financial and information systems and technology; maintenance of effective internal controls; potential legislative and regulatory changes; continued and sufficient access to capital; compliance with covenants in our credit agreement; interest rate risk; and market and general economic and political conditions. Further information on these and other potential factors that could affect the Company s financial results are included under the Risk Factors section of the Company s Annual Report on Form 10-K for the year ended December 31, 2016, and elsewhere in the Company s filings with the Securities and Exchange Commission (SEC), which are available on the SEC s website or at investors.navigant.com. The Company cannot guarantee any future results, levels of activity, performance or achievement and undertakes no obligation to update any of its forward-looking statements. 2

COMPANY OVERVIEW Specialized, global professional services firm serving high growth industry sectors (healthcare, energy and financial services) facing transformational change and significant regulatory and legal pressures 214 CLIENTS Diversified, blue-chip client portfolio REVENUE BREADTH With revenues of >$1 Million In 2016 CLIENT RETENTION revenues over $500K CORPORATE INFORMATION NYSE: NCI Approximately 6,000 employees in 60+ offices (headquartered in Chicago, IL) Served clients in 43 countries on six continents and managed more than 4,300 engagements* in 2016 2016 FINANCIAL OVERVIEW Total revenues - $1.03 billion Revenues before reimbursement - $939 million Adjusted EBITDA - $142 million Adjusted net income - $62 million Adjusted earnings per share - $1.27 68% Client relationships of 5 years or more BUSINESS SEGMENTS Healthcare Energy Financial Services Advisory and Compliance Disputes, Forensics & Legal Technology * Includes projects that generated more than $10K in revenue For the definition and reconciliation of Adjusted EBITDA, Adjusted net income and Adjusted earnings per share to the most comparable GAAP financial measure, see investors.navigant.com. 3

INVESTMENT THESIS Strong growth orientation Broad but distinct portfolio of solutions aligned to key market trends Growing asset-based consulting and recurring revenue businesses Balanced capital allocation strategy Excellent financial condition Experienced leadership team 4

STRATEGIC ACTIONS DRIVING GROWTH Implemented operating framework to drive sustainable growth (Perform, Bank & Innovate) Exited non-strategic businesses and defined strategy to balance event-driven and recurring revenues Invested in technology enabled solutions, business process management services and data analytics Realigned businesses to enhance collaboration and improve our go-tomarket strategy for each of the core industries in which we practice 5

SOLUTIONS THAT DELIVER POWERFUL RESULTS NAVIGANT IS AT THE INTERSECTION OF RISK AND TRANSFORMATION We collaborate with clients to help them take control of their futures by delivering powerful results that BUILD, MANAGE, and PROTECT their businesses value. 6

BUILD MANAGE PROTECT Strategy Consulting Operations Consulting Transaction Advisory Business Process Managed Services: Compliance Claims Revenue Cycle Disputes Economics Forensics Investigations Legal Technology Risk & Compliance We work with our clients to anticipate where their industries are heading to pinpoint promising opportunities and build intelligent solutions that enhance value. We help clients navigate complexity and remove barriers so they can manage more efficiently to maximize operational effectiveness. We enable clients to tackle their most critical issues to safeguard against adversity and rigorously manage risk. 7

KEY ATTRIBUTES OF SUSTAINABLE PERFORMANCE Decades-long proficiency in regulatory change with proven ability to anticipate and adapt expertise Targeted focus on industries facing significant business model stress and transformation Aligned to macroeconomic drivers Distinctive client approach Deep and broad bench strength in key disciplines Strong global presence serving clients in 40+ countries 8

HEALTHCARE SEGMENT MARKET LEADING SERVICE OFFERINGS Demand Drivers Healthcare reform Reimbursement changes Evolving value-based care models Life sciences market globalization and regulation Industry consolidation Solution Offerings Strategic advisory Operational improvement Clinical effectiveness Revenue cycle consulting Business process management services Data analytics Life sciences product commercialization Clients include 85% of the largest health systems in the U.S. (by member hospitals)*, 22 of the 25 top global pharmaceutical companies**, physician practice groups, payers and government agencies * Data Source: Definitive Healthcare ** Data Source: GlobalData 9

HEALTHCARE SEGMENT PERFORMANCE Revenues Before Reimbursements ($ s in 000s) Q3'17 Q2'17 Q3 16 $95,860 94,134 91,046 Segment Operating Profit ($ s in 000s) Q3'17 Q2'17 Q3 16 $29,693 28,116 31,896 Other Metrics* Average Utilization 73% 75% Average Client-Service FTE 3,414 2,968 Average Bill Rate $279 $270 * For more information, see the NCI Metrics Summary Q3 2017 located at investors.navigant.com 10

ENERGY SEGMENT MARKET LEADING SERVICE OFFERINGS Demand Drivers Technology change: renewables, distributed generation and storage Grid modernization and resilience Energy efficiency regulation Solution Offerings Business strategy and planning Distributed energy resources and renewables Energy efficiency and demand response Grid modernization Research, data services and benchmarking Clients include 50 of the world s largest electric and gas utilities, water utilities, government agencies, manufacturers and investors 11

ENERGY SEGMENT PERFORMANCE Revenues Before Reimbursements ($ s in 000s) Q3'17 Q2'17 Q3 16 $29,597 31,743 28,436 Segment Operating Profit ($ s in 000s) Q3'17 Q2'17 Q3 16 $8,077 8,516 8,336 Other Metrics* Average Utilization 67% 72% Average Client-Service FTE 500 407 Average Bill Rate $200 $207 * For more information, see the NCI Metrics Summary Q3 2017 located at investors.navigant.com 12

FINANCIAL SERVICES ADVISORY AND COMPLIANCE SEGMENT MARKET LEADING SERVICE OFFERINGS Demand Drivers Financial services compliance requirements Public and regulatory focus on financial crimes Tightening capital requirements Solution Offerings Regulatory compliance and investigations Operational effectiveness Risk management and controls Clients include 200+ leading financial services organizations, insurance institutions, corporations and government agencies 13

FINANCIAL SERVICES ADVISORY AND COMPLIANCE SEGMENT PERFORMANCE Revenues Before Reimbursement ($ s in 000s) Q3'17 Q2'17 Q3 16 $38,016 33,683 40,265 Segment Operating Profit ($ s in 000s) Q3'17 Q2'17 Q3 16 $15,937 12,307 17,682 Other Metrics* Average Utilization 82% 76% Average Client-Service FTE 396 314 Average Bill Rate $314 $313 * For more information, see the NCI Metrics Summary Q3 2017 located at investors.navigant.com 14

DISPUTES, FORENSICS & LEGAL TECHNOLOGY SEGMENT MARKET LEADING SERVICE OFFERINGS Demand Drivers Complex global legal challenges Increasing regulation High-stakes disputes Complex investigations Data proliferation, privacy and cybersecurity Solution Offerings Expert services and technology solutions to address complex legal, regulatory and business risk challenges Expert testimony and privileged consulting on economic, financial, accounting, engineering and compliance matters ediscovery and complex data management and analytics Clients include 90% of AmLaw 100 and 7 of the top 10 UK law firms, corporations and their boards, legal counsel and government agencies 15

DISPUTES, FORENSICS & LEGAL TECHNOLOGY SEGMENT PERFORMANCE Revenues Before Reimbursement ($ s in 000s) Q3'17 Q2'17 Q3 16 $74,032 75,678 77,368 Segment Operating Profit ($ s in 000s) Q3'17 Q2'17 Q3 16 $24,499 21,429 26,099 Other Metrics* Average Utilization 74% 72% Average Client-Service FTE 676 675 Average Bill Rate $362 $367 * For more information, see the NCI Metrics Summary Q3 2017 located at investors.navigant.com 16

REVENUE GROWTH TRENDS $1,000 Revenues Before Reimbursements (RBR) (in millions) $939 Midpoint of $967.5M reflects growth of 3% over 2016 $955M to $980M $900 $834 $800 $767 38% $700 $600 29% 35% $500 13% 13% 12% $400 $300 18% 15% 16% $200 $100 40% 38% 34% $0 2014 2015 2016 Disputes, Forensics & Legal Technology Financial Services Advisory and Compliance Energy Healthcare 2017 RBR Guidance Range Reaffirmed on 10/26/17 earnings call 17

EARNINGS GROWTH TRENDS Adjusted Earnings per Share Midpoint of $1.24 reflects decline of 2% over 2016 $1.40 $1.20 $1.00 $1.02 $1.07 $1.27 $1.19 to $1.29 $0.80 $0.60 $0.40 $0.20 $0.00 2014 2015 2016 2017 Adj EPS Guidance Range Reaffirmed on 10/26/17 earnings call For reconciliation of Adjusted EPS to the most comparable GAAP financial measure, see investors.navigant.com. No reconciliation of Navigant s 2017 Adjusted EPS guidance is available as Navigant is not able to accurately forecast the excluded items at the level of precision that would be required to be included in the most directly comparable GAAP financial measure without unreasonable efforts. 18

STRONG CASH FLOW AND BALANCE SHEET Strong free cash flow generation and modest leverage $90 Free Cash Flow ($ in millions) Leverage Ratio $80 $70 $72 $79 to $75 1.60 1.40 1.44 $60 $60 1.20 $50 $49 1.00 0.94 0.95 $40 0.80 $30 0.60 $20 0.40 $10 0.20 $0 2014 2015 2016 2017 Free Cash Flow Guidance Range 0.00 2014 2015 2016 Reaffirmed on 10/26/17 earnings call For the definition/calculation of leverage ratio and the definition/reconciliation of Free Cash Flow to the most comparable GAAP financial measure, see investors.navigant.com. 19

BALANCED CAPITAL ALLOCATION STRATEGY Since Q4 2011, Navigant has repurchased ~10.1 million shares at an aggregate cost of $154.1 million (average of $15.32 per share) (as of 9/30/2017) Board refreshed authorization to $100 million in May 2017 (authorization runs through 12/31/19); $78.6 million remaining (as of 9/30/2017) Ongoing Share Repurchases 2,500 $18.87 $20 Number of shares repurchased (shares in thousands) 2,000 1,500 1,000 500 1,602 $11.78 2,059 $13.76 $16.50 1,653 $15.12 1,589 $17.45 1,436 1,484 $15 $10 $5 Average price per share 0 2012 2013 2014 2015 2016 2017 YTD $0 Number of Shares Average Price per Share 20

SUMMARY Strong growth orientation Broad but distinct portfolio of solutions aligned to key market trends Growing recurring revenue/repeatable asset base Balanced capital allocation strategy Excellent financial condition Experienced leadership team 21

More information about Navigant can be found at investors.navigant.com KYLE BLAND Director, Investor Relations 312.573.5624 kyle.bland@navigant.com navigant.com 22