[8-K] TransUnion Reports Material Event

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

TransUnion reported strong fourth quarter and full-year 2025 results and expanded its revolving credit facility. Q4 revenue reached $1,171 million, up 13% from a year earlier, with net income attributable to TransUnion of $101 million and diluted EPS of $0.52 versus $0.34. Adjusted EBITDA was $417 million, up 10%, with a 35.6% margin.

For 2025, revenue was $4,576 million, up 9%, and net income attributable to TransUnion rose to $455 million from $284 million, with diluted EPS of $2.32 and adjusted diluted EPS of $4.30. The company repurchased about $300 million of shares in 2025, raised its quarterly dividend to $0.125 per share, and ended the year with a leverage ratio of 2.6x.

On February 11, 2026, TransUnion increased incremental revolving credit commitments by $400 million, bringing total revolving commitments under its credit agreement to $1,000 million. For 2026, it guides revenue growth of 8–9%, adjusted EBITDA of $1,756–$1,777 million, and adjusted diluted EPS of $4.63–$4.71, implying 8–10% EPS growth.

Insights

TransUnion delivered broad-based growth in 2025 and signaled continued high-single-digit expansion for 2026.

TransUnion’s 2025 revenue grew 9% to $4,576 million, with Q4 revenue up 13% to $1,171 million. Net income attributable to TransUnion increased to $455 million from $284 million, while adjusted EBITDA reached $1,646 million with a 36.0% margin, matching the prior year’s percentage.

Growth was driven by U.S. Markets, where 2025 revenue was $3,579 million and Q4 segment revenue rose 16%, led by Financial Services at 19% and Emerging Verticals at 16% organic constant currency growth. International revenue grew more modestly to $1,011 million, with strength in Canada and the U.K. offset by weakness in India and Asia Pacific.

For 2026, guidance calls for revenue of $4,946–$4,981 billion with 8–9% growth, adjusted EBITDA of $1,756–$1,777 million, and adjusted diluted EPS of $4.63–$4.71, implying 8–10% EPS growth. The company also expanded its revolving credit capacity to $1,000 million and ended 2025 with a Leverage Ratio of 2.6, while returning roughly $390 million to shareholders through buybacks and dividends. Overall, the filing portrays a business growing solidly with stable margins and a moderate balance sheet.

02/12/2026 - 06:14 AM

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 Earliest Event Reported): February 11, 2026

____________________

TransUnion

(Exact name of registrant as specified in its charter)

____________________

Delaware

001-37470

61-1678417

(State or other jurisdiction
of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

555 West Adams Street,

Chicago,

Illinois

60661

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code: (312) 985-2000

____________________

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:

☐ 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

Common Stock, $0.01 par value

TRU

New York Stock Exchange

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 1.01 Entry into a Material Definitive Agreement.

On February 11, 2026, TransUnion Intermediate Holdings, Inc. (“Holdings”), Trans Union LLC (the “Borrower”), certain wholly-owned subsidiaries of TransUnion (the “Company”), Deutsche Bank AG New York Branch, as the administrative agent and the collateral agent, and the lenders party thereto, entered into Amendment No. 25 (the “Amendment”) to the Third Amended and Restated Credit Agreement, dated as of August 9, 2017 (as amended, amended and restated, supplemented and/or otherwise modified from time to time, including pursuant to the Amendment, the “Credit Agreement”). Capitalized terms used and not otherwise defined herein have the respective meanings given such terms in the Credit Agreement.

Pursuant to the Amendment, the Credit Agreement was amended to establish $400,000,000 of incremental revolving credit commitments (the “Incremental Commitments”) under the Revolving Credit Facility. Immediately after giving effect to the incurrence of the Incremental Commitments, the aggregate amount of Revolving Credit Commitments under the Credit Agreement was $1,000,000,000. In addition, all of the obligations under the Loan Documents were reaffirmed in all respects.

Holdings and its direct and indirect wholly-owned subsidiaries party to the Credit Agreement and ancillary agreements and documents (other than the Borrower) continue to provide an unconditional guaranty of all amounts owing under the Credit Agreement. With certain exceptions, the obligations are secured by a first-priority security interest in substantially all of the assets of the Borrower, Holdings and the other guarantors, including their investments in subsidiaries. The Credit Agreement continues to contain various restrictions and nonfinancial covenants, including restrictions on dividends, investments, dispositions, future borrowings and other specified payments.

The Incremental Commitments have the same terms as the Revolving Credit Commitments in effect immediately prior to the Amendment.

Item 2.02 Results of Operations and Financial Condition.

On February 12, 2026, TransUnion issued a press release announcing results for the quarter ended December 31, 2025. A copy of the press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth under Item 1.01 is incorporated herein by reference.

Item 7.01 Regulation FD Disclosure.

On February 12, 2026, management reviewed a slide presentation during the Company’s fiscal 2025 fourth quarter earnings conference call. The presentation materials are attached hereto as Exhibit 99.2 and incorporated herein by reference. These materials may also be used by the Company at one or more subsequent conferences with analysts, investors, or other stakeholders.

The information contained in the attached presentation materials is summary information that is intended to be considered in the context of the Company’s Securities and Exchange Commission filings and other public announcements. The Company undertakes no duty or obligation to publicly update or revise this information, although it may do so from time to time.

The information furnished pursuant to this Item 7.01, including Exhibit 99.2, shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference in any filing made by the Company under the Securities Act or the Exchange Act.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits


Exhibit No.			Description
99.1			Press release of TransUnion dated February 12, 2026, announcing results for the quarter ended December 31, 2025.
99.2			Earnings call presentation materials for the quarter ended December 31, 2025.
104			Cover page Interactive Data File (embedded within the inline XBRL file).

SIGNATURES

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


	TRANSUNION

Date: February 12, 2026	By:	/s/ Todd M. Cello
	Name:	Todd M. Cello
	Title:	Executive Vice President, Chief Financial Officer

Exhibit 99.1


						News Release

TransUnion Announces Strong Fourth Quarter and Full-Year 2025 Results

•Exceeded revenue, Adjusted EBITDA and Adjusted Diluted Earnings Per Share guidance

•Delivered 13 percent revenue growth, or 12 percent organic constant currency

•Drove 19 percent U.S. Financial Services and 16 percent Emerging Verticals revenue growth

•Repurchased approximately $150 million of shares in fourth quarter for a total of $300 million in 2025

•Raised quarterly dividend to $0.125 per share, an increase from $0.115, effective fourth quarter of 2025

•Introducing 2026 financial guidance, we expect to deliver 8 to 9 percent revenue growth

CHICAGO, February 12, 2026 - TransUnion (NYSE: TRU) (the “Company”) today announced financial results for the quarter and full-year ended December 31, 2025.

Fourth Quarter 2025 Results

Revenue:

•Total revenue for the quarter was $1,171 million, an increase of 13 percent (12 percent on an organic constant currency basis), compared with the fourth quarter of 2024.

Earnings:

•Net income attributable to TransUnion was $101 million for the quarter, compared with $66 million for the fourth quarter of 2024. Diluted earnings per share was $0.52, compared with $0.34 for the fourth quarter of 2024. Net income attributable to TransUnion margin was 9 percent, compared with 6 percent for the fourth quarter of 2024.

•Adjusted Net Income was $208 million for the quarter, compared with $192 million for the fourth quarter of 2024. Adjusted Diluted Earnings Per Share was $1.07, compared with $0.97 for the fourth quarter of 2024.

•Adjusted EBITDA was $417 million for the quarter, an increase of 10 percent (10 percent on a constant currency basis) compared with the fourth quarter of 2024. Adjusted EBITDA margin was 35.6 percent, compared with 36.5 percent for the fourth quarter of 2024.

“TransUnion finished the year strongly with results that again exceeded financial guidance,” said Chris Cartwright, President and CEO. “Revenue growth of 13 percent was led by continued strength in U.S. Markets, with Financial Services growing 19 percent and Emerging Verticals accelerating to 16 percent growth. Results reflected broad-based performance, with credit, marketing and fraud solutions each growing healthy double-digits.”

“We expect another strong year in 2026, supported by stable trends and innovation-led commercial momentum. Introducing our initial guidance, we expect revenue to grow 8 to 9 percent and Adjusted Diluted EPS to grow 8 to 10 percent.”

“Our results and guidance reflect the ongoing benefits of our multi-year strategic transformation. We plan to share more about our technology modernization, product innovation and strengthening commercial outcomes, alongside an updated medium-term financial framework, at our Investor Day on March 10.”

Fourth Quarter 2025 Segment Results

Segment revenue and Adjusted EBITDA for the fourth quarter of 2025, which includes the revenue from Monevo in Consumer Interactive and United Kingdom and the corresponding Adjusted EBITDA in U.S. Markets and International, and the related growth rates compared with the fourth quarter of 2024 were as follows:


(in millions)	Fourth Quarter 2025		Reported Growth Rate		Constant Currency Growth Rate		Organic Constant Currency Growth Rate
U.S. Markets:
Financial Services	$	423.1	19	%	19	%	19	%
Emerging Verticals	350.3		16	%	16	%	16	%
Consumer Interactive	145.5		9	%	9	%	8	%
Total U.S. Markets Revenue	$	918.9	16	%	16	%	16	%

U.S. Markets Adjusted EBITDA	$	348.5	12	%	12	%	12	%

International:
Canada	$	43.5	13	%	13	%	13	%
Latin America	34.8		3	%	(3)	%	(3)	%
United Kingdom	72.2		22	%	18	%	10	%
Africa	19.6		7	%	3	%	3	%
India	60.4		(9)	%	(4)	%	(4)	%
Asia Pacific	25.4		(11)	%	(11)	%	(11)	%
Total International Revenue	$	255.9	4	%	4	%	2	%

International Adjusted EBITDA	$	110.3	3	%	3	%	3	%

Full Year 2025 Results

Revenue:

•Total revenue for the year was $4,576 million, an increase of 9 percent (10 percent on a constant currency basis) compared with 2024.

Earnings:

•Net income attributable to TransUnion was $455 million for the year, compared with $284 million in 2024. Diluted earnings per share was $2.32, compared with $1.45 in 2024. Net income attributable to TransUnion margin was 10 percent, compared with 7 percent in 2024.

•Adjusted Net Income was $846 million for the year, compared with $769 million in 2024. Adjusted Diluted Earnings Per Share was $4.30, compared with $3.91 in 2024.

•Adjusted EBITDA was $1,646 million for the year, compared to $1,506 million in 2024, an increase of 9 percent (an increase of 10 percent on a constant currency basis) compared with 2024. Adjusted EBITDA margin was 36.0 percent, compared with 36.0 percent in 2024.

Liquidity and Capital Resources

Cash and cash equivalents were $854 million at December 31, 2025 and $679 million at December 31, 2024.

For the year ended December 31, 2025, cash provided by operating activities was $988 million compared with $832 million in 2024. The increase in cash provided by operating activities was due primarily to improved operating performance, lower interest expense and a penalty paid for the early termination of a facility lease in 2024, partially offset by higher income tax payments and higher bonus payouts in 2025. For the year ended December 31, 2025, cash used in investing activities was $332 million for 2025 compared with $307 million in 2024. The increase in cash used in investing activities was due primarily to our acquisition of Monevo, an increase in capital expenditures and current year investments in a convertible note receivable, partially offset by proceeds from a note receivable associated with a prior year divestiture. Capital expenditures as a percent of revenue represented 7% for 2025 and 8% for 2024. For the year ended December 31, 2025, cash used in financing activities was $495 million compared with $309 million in 2024. The increase in cash used in financing activities was due primarily to share repurchases in 2025, partially offset by higher debt prepayments in 2024.

TransUnion’s Board of Directors has declared a cash dividend of $0.125 per share for the fourth quarter of 2025. The dividend will be payable on March 13, 2026, to shareholders of record on February 26, 2026.

On February 11, 2026, the Company increased its borrowing capacity under its Senior Secured Revolving Credit Facility to $1.0 billion. All other key terms of the Senior Secured Revolving Credit Facility remained unchanged.

First Quarter and Full Year 2026 Outlook

Our guidance is based on a number of assumptions that are subject to change, many of which are outside of the control of the Company, including general macroeconomic conditions, interest rates and inflation. There are numerous evolving factors that we may not be able to accurately predict. There can be no assurance that the Company will achieve the results expressed by this guidance.


	Three Months Ended March 31, 2026						Year Ended December 31, 2026
(in millions, except per share data)	Low			High			Low			High
Revenue, as reported	$	1,195		$	1,205		$	4,946		$	4,981
Revenue growth1:
As reported	9		%	10		%	8		%	9		%
Constant currency1, 2	8		%	9		%	8		%	9		%
Organic constant currency1, 3	8		%	9		%	8		%	9		%

Net income attributable to TransUnion	$	118		$	123		$	538		$	553
Net income attributable to TransUnion growth	(20)		%	(17)		%	18		%	21		%
Net income attributable to TransUnion margin	9.9		%	10.2		%	10.9		%	11.1		%

Diluted Earnings per Share	$	0.60		$	0.63		$	2.75		$	2.83
Diluted Earnings per Share growth	(19)		%	(17)		%	19		%	22		%

Adjusted EBITDA, as reported5	$	414		$	420		$	1,756		$	1,777
Adjusted EBITDA growth, as reported4	4		%	6		%	7		%	8		%
Adjusted EBITDA margin	34.6		%	34.9		%	35.5		%	35.7		%

Adjusted Diluted Earnings per Share5	$	1.08		$	1.10		$	4.63		$	4.71
Adjusted Diluted Earnings per Share growth	2		%	5		%	8		%	10		%

1.Additional revenue growth assumptions:

a.The impact of changing foreign currency exchange rates is expected to be approximately 1 point of benefit for Q1 2026 and immaterial for FY 2026.

b.The impact of our Monevo acquisition is expected to be immaterial for Q1 2026 and FY 2026.

c.The impact of mortgage is expected to be approximately 4 points of benefit for Q1 2026 and approximately 3 points of benefit for FY 2026.

2.Constant currency growth rates assume foreign currency exchange rates are consistent between years. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates.

3.Organic constant currency growth rates are constant currency growth excluding inorganic growth. Inorganic growth represents growth attributable to the first twelve months of activity for recent business acquisitions.

4. Additional Adjusted EBITDA assumptions:

a.The impact of changing foreign currency exchange rates is expected to be approximately 1 point of benefit for Q1 2026 and immaterial for FY 2026.

5.For a reconciliation of the above non-GAAP financial measures to the most directly comparable GAAP financial measures, refer to Schedule 7 of this Earnings Release.

Earnings Webcast Details

In conjunction with this release, TransUnion will host a conference call and webcast today at 8:30 a.m. Central Time to discuss the business results for the quarter and certain forward-looking information. This session and the accompanying presentation materials may be accessed at www.transunion.com/tru. A replay of the call will also be available at this website following the conclusion of the call.

About TransUnion (NYSE: TRU)

TransUnion is a global information and insights company with approximately 13,500 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.

http://www.transunion.com/business

Availability of Information on TransUnion’s Website

Investors and others should note that TransUnion routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the TransUnion Investor Relations website. While not all of the information that the Company posts to the TransUnion Investor Relations website is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media and others interested in TransUnion to review the information that it shares on www.transunion.com/tru.

Forward-Looking Statements

This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of TransUnion’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Any statements made in this earnings release that are not statements of historical fact, including statements about our beliefs, expectations and outlook are forward-looking statements. Forward-looking statements include information concerning possible or assumed future results of operations, including our guidance and descriptions of our business plans and strategies. These statements often include words such as “anticipate,” “expect,” “guidance,” “suggest,” “plan,” “believe,” “intend,” “estimate,” “target,” “project,” “should,” “could,” “would,” “may,” “will,” “forecast,” “outlook,” “potential,” “continues,” “seeks,” “predicts,” or the negatives of these words and other similar expressions.

Factors that could cause actual results to differ materially from those described in the forward-looking statements, or that could materially affect our financial results or such forward-looking statements include:

•macroeconomic effects and changes in market conditions, including the impact of tariffs, inflation, risk of recession, trade policy, and industry trends and adverse developments in the debt, consumer credit and financial services markets, including the impact on the carrying value of our assets in all of the markets where we operate;

•our ability to provide competitive services and prices;

•our ability to retain or renew existing agreements with large or long-term customers;

•our ability to maintain the security and integrity of our data;

•our ability to deliver services timely without interruption;

•uncertainty related to Fair Isaac Corporation’s (“FICO”) new Mortgage Direct License Program;

•our ability to maintain our access to data sources;

•government regulation and changes in the regulatory environment;

•litigation or regulatory proceedings;

•our approach to the use of artificial intelligence;

•our ability to effectively manage our costs;

•our ability to maintain effective internal control over financial reporting or disclosure controls and procedures;

•economic and political stability in the United States and risks associated with the international markets where we operate;

•our ability to effectively develop and maintain strategic alliances and joint ventures;

•our ability to timely develop new services and the market’s willingness to adopt our new services;

•our ability to manage and expand our operations and keep up with rapidly changing technologies;

•our ability to acquire businesses, successfully secure financing for our acquisitions, timely consummate our acquisitions, successfully integrate the operations of our acquisitions, control the costs of integrating our acquisitions and realize the intended benefits of such acquisitions;

•our ability to protect and enforce our intellectual property, trade secrets and other forms of unpatented intellectual property;

•our ability to defend our intellectual property from infringement claims by third parties;

•the ability of our outside service providers and key vendors to fulfill their obligations to us;

•further consolidation in our end-customer markets;

•the increased availability of free or inexpensive consumer information;

•losses against which we do not insure;

•our ability to make timely payments of principal and interest on our indebtedness;

•our ability to satisfy covenants in the agreements governing our indebtedness;

•our ability to maintain our liquidity;

•stock price volatility;

•share repurchase plans;

•dividend rate;

•our reliance on key management personnel; and

•changes in tax laws or adverse outcomes resulting from examination of our tax returns.

There may be other factors, many of which are beyond our control, that may cause our actual results to differ materially from the forward-looking statements, including factors disclosed in our Annual Report on Form 10-K for the year ended December 31, 2025, to be filed with the SEC in February 2026, and our Annual Report on Form 10-K for the year ended December 31, 2024, as well as our quarterly reports for the quarters ended September 30, 2025, June 30, 2025 and March 31, 2025, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K filed with the Securities and Exchange Commission. You should evaluate all forward-looking statements made in this report in the context of these risks and uncertainties.

The forward-looking statements contained in this earnings release speak only as of the date of this earnings release. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this earnings release.

For More Information

E-mail: Investor.Relations@transunion.com

Telephone: 312.985.2860

TRANSUNION AND SUBSIDIARIES

Consolidated Balance Sheets (Unaudited)

(in millions, except per share data)


	December 31, 2025		December 31, 2024
Assets
Current assets:
Cash and cash equivalents	$	853.6	$	679.5
Trade accounts receivable, net of allowance of $27.7 and $19.9	905.0		798.9
Other current assets	257.7		323.4
Total current assets	2,016.3		1,801.8
Property, plant and equipment, net of accumulated depreciation and amortization of $545.0 and $506.3	258.4		203.5
Goodwill	5,259.5		5,144.3
Other intangibles, net of accumulated amortization of $2,716.3 and $2,294.5	3,098.5		3,257.5
Other assets	480.2		577.7
Total assets	$	11,112.9	$	10,984.8
Liabilities and stockholders’ equity
Current liabilities:
Trade accounts payable	$	349.9	$	294.6
Current portion of long-term debt	196.9		70.6
Other current liabilities	607.6		694.4
Total current liabilities	1,154.4		1,059.6
Long-term debt	4,906.9		5,076.6
Deferred taxes	389.8		415.3
Other liabilities	116.5		114.5
Total liabilities	6,567.6		6,666.0
Stockholders’ equity:
Preferred stock, $0.01 par value; 100.0 million shares authorized; none issued or outstanding as of December 31, 2025 and 2024	—		—
Common stock, $0.01 par value; 1.0 billion shares authorized at December 31, 2025 and December 31, 2024; 199.4 million and 201.5 million shares issued as of December 31, 2025 and December 31, 2024, respectively; and 192.4 million and 194.9 million shares outstanding as of December 31, 2025 and December 31, 2024, respectively	2.0		2.0
Additional paid-in capital	2,424.0		2,558.9
Treasury stock at cost; 7.0 million and 6.6 million shares at December 31, 2025 and December 31, 2024, respectively	(370.3)		(334.6)
Retained earnings	2,723.7		2,357.9
Accumulated other comprehensive loss	(340.2)		(367.2)
Total TransUnion stockholders’ equity	4,439.2		4,217.0
Noncontrolling interests	106.1		101.8
Total stockholders’ equity	4,545.3		4,318.8
Total liabilities and stockholders’ equity	$	11,112.9	$	10,984.8

TRANSUNION AND SUBSIDIARIES

Consolidated Statements of Operations (Unaudited)

(in millions, except per share data)


	Three Months Ended December 31,				Years Ended December 31,
	2025		2024		2025		2024
Revenue	$	1,171.4	$	1,036.8	$	4,576.3	$	4,183.8
Operating expenses
Cost of services (exclusive of depreciation and amortization below)	476.2		411.6		1,872.0		1,673.3
Selling, general and administrative	342.3		317.2		1,264.9		1,239.3
Depreciation and amortization	147.6		137.3		574.8		537.8
Restructuring	1.8		—		6.8		66.8
Total operating expenses	967.8		866.0		3,718.6		3,517.1
Operating income	203.6		170.8		857.8		666.7
Non-operating income and (expense)
Interest expense	(61.5)		(62.0)		(235.8)		(265.2)
Interest income	7.0		8.6		33.2		28.5
Earnings from equity method investments	5.6		4.2		20.3		18.3
Other income and (expense), net	(12.4)		(20.9)		(32.5)		(47.1)
Total non-operating income and (expense)	(61.3)		(70.1)		(214.8)		(265.5)
Income from operations before income taxes	142.3		100.6		643.0		401.1
Provision for income taxes	(37.6)		(29.9)		(173.1)		(98.8)


Net income	104.7		70.7		469.9		302.3
Less: net income attributable to noncontrolling interests	(3.5)		(4.5)		(14.5)		(18.0)
Net income attributable to TransUnion	$	101.2	$	66.2	$	455.4	$	284.4







Basic earnings per common share from:


Net income attributable to TransUnion	$	0.52	$	0.34	$	2.34	$	1.46
Diluted earnings per common share from:


Net income attributable to TransUnion	$	0.52	$	0.34	$	2.32	$	1.45

Weighted-average shares outstanding:
Basic	193.0		194.9		194.4		194.4
Diluted	194.9		197.3		196.6		196.7

As a result of displaying amounts in millions, rounding differences may exist in the table above.

TRANSUNION AND SUBSIDIARIES

Consolidated Statements of Cash Flows (Unaudited)

(in millions)


	Years Ended December 31,
	2025		2024
Cash flows from operating activities:
Net income	$	469.9	$	302.3


Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	574.8		537.8

Loss on repayment of loans	—		7.4
Deferred taxes	(28.8)		(157.3)
Stock-based compensation	145.6		121.2
Loss on early termination of lease	—		40.5
Other	43.7		34.3
Changes in assets and liabilities:
Trade accounts receivable	(119.4)		(105.6)
Other current and long-term assets	(1.9)		46.0
Trade accounts payable	31.3		39.2
Other current and long-term liabilities	(127.6)		(33.3)


Cash provided by operating activities	987.6		832.5
Cash flows from investing activities:
Capital expenditures	(326.0)		(315.8)
Proceeds from sale/maturity of other investments	0.2		0.2
Purchases of other investments	—		(0.2)

Investments in consolidated affiliates, net of cash acquired	(55.7)		—
Investments in nonconsolidated affiliates and notes receivable	(25.6)		(5.9)
Proceeds from the sale of investments in nonconsolidated affiliates	—		7.7

Proceeds from note receivable	72.0		—
Other	3.4		6.6
Cash used in investing activities	(331.7)		(307.4)
Cash flows from financing activities:
Proceeds from Term Loans	—		1,793.1

Repayments of Term Loans	—		(1,786.1)
Repayments of debt	(78.5)		(198.9)
Debt financing fees	—		(16.5)
Proceeds from issuance of common stock and exercise of stock options	22.5		24.9
Dividends to shareholders	(90.5)		(82.7)
Employee taxes paid on restricted stock units recorded as treasury stock	(35.7)		(31.7)

Repurchases of common stock	(302.0)		—
Distributions to noncontrolling interests	(10.4)		(10.8)
Cash used in financing activities	(494.6)		(308.7)
Effect of exchange rate changes on cash and cash equivalents	12.8		(13.1)
Net change in cash and cash equivalents	174.1		203.3
Cash and cash equivalents, beginning of period	679.5		476.2
Cash and cash equivalents, end of period	$	853.6	$	679.5

As a result of displaying amounts in millions, rounding differences may exist in the table above.

TRANSUNION AND SUBSIDIARIES

Non-GAAP Financial Measures

We present Consolidated Adjusted EBITDA, Consolidated Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Diluted Earnings per Share, Adjusted Provision for Income Taxes, Adjusted Effective Tax Rate and Leverage Ratio for all periods presented. These are important financial measures for the Company but are not financial measures as defined by GAAP. These financial measures should be reviewed in conjunction with the relevant GAAP financial measures and are not presented as alternative measures of GAAP. Other companies in our industry may define or calculate these measures differently than we do, limiting their usefulness as comparative measures. Because of these limitations, these non-GAAP financial measures should not be considered in isolation or as substitutes for performance measures calculated in accordance with GAAP, including operating income, operating margin, effective tax rate, net income attributable to the Company, diluted earnings per share or cash provided by operating activities. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures are presented in the tables below.

We present Consolidated Adjusted EBITDA, Consolidated Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Diluted Earnings per Share, Adjusted Provision for Income Taxes and Adjusted Effective Tax Rate as supplemental measures of our operating performance because these measures eliminate the impact of certain items that we do not consider indicative of our cash operations and ongoing operating performance. These are measures frequently used by securities analysts, investors and other interested parties in their evaluation of the operating performance of companies similar to ours.

Our board of directors and executive management team use Adjusted EBITDA as an incentive compensation measure for most eligible employees and Adjusted Diluted Earnings per Share as an incentive compensation measure for certain of our senior executives.

Under the credit agreement governing our Senior Secured Credit Facility, our ability to engage in activities such as incurring additional indebtedness, making investments and paying dividends is tied to our Leverage Ratio which is partially based on Adjusted EBITDA. Investors also use our Leverage Ratio to assess our ability to service our debt and make other capital allocation decisions.

Consolidated Adjusted EBITDA

Management has excluded the following items from net income attributable to TransUnion in order to calculate Adjusted EBITDA for the periods presented:

•Net interest expense, which is the sum of interest expense and interest income as reported on our Consolidated Statements of Operations.

•Provision for income taxes, as reported on our Consolidated Statements of Operations.

•Depreciation and amortization, as reported on our Consolidated Statements of Operations.

•Stock-based compensation is used as an incentive to engage and retain our employees. It is predominantly a non-cash expense. We exclude stock-based compensation because it may not correlate to the underlying performance of our business operations during the period since it is measured at the grant date fair value and it is subject to variability as a result of performance conditions and timing of grants. These expenses are reported within cost of services and selling, general and administrative on our Consolidated Statements of Operations.

•Mergers and acquisitions, divestitures and business optimization expenses are non-recurring expenses associated with specific transactions (exploratory or executed) and consist of (i) transaction and integration costs, (ii) fair value and impairment adjustments related to investments and related call and put options, notes receivable, gains or losses on a step acquisition and mark-to-market adjustments on acquisition-related foreign currency forward contracts, (iii) post-acquisition adjustments to contingent consideration or to assets and liabilities that occurred after the acquisition measurement period. We exclude these expenses as we believe they are not directly correlated to the underlying performance of our business operations and vary depending upon the timing of such transactions. These expenses are reported in costs of services, selling, general and administrative and other income and (expenses), net, on our Consolidated Statements of Operations.

•Accelerated technology investment includes Project Rise and the final phase of our technology investment announced in November 2023. Project Rise was announced in February 2020 and was originally expected to be completed in 2022. Following our acquisition of Neustar in December 2021, we recognized the opportunity to take advantage of Neustar’s capabilities to enhance and complement our cloud-based technology already under development as part of Project Rise. As a result, we extended Project Rise’s timeline to 2024. In November 2023, we announced our plans to further leverage Neustar’s technology to standardize and streamline our product delivery platforms and to build a single global platform for fulfillment of our product lines. This represents the final phase of the technology investment in our global technology infrastructure and core customer applications. The accelerated technology investment fundamentally transformed our technology infrastructure by implementing a global cloud-based approach to streamline product development, increase the efficiency of ongoing operations and maintenance and enable a continuous improvement approach to avoid the need for another major technology overhaul in the foreseeable future. The unique effort to build a secure, reliable and performant hybrid cloud infrastructure required us to dedicate separate resources in order to develop the new cloud-based infrastructure in parallel with our current on-premise environment by maintaining our existing technology team to ensure no disruptions to our customers. The costs associated with the accelerated technology investment are incremental and redundant costs that will not recur now that the program has been completed and are not representative of our underlying operating performance. Therefore, we believe that excluding these costs through the end of the program in 2025 from our non-GAAP measures provides a better reflection of our ongoing cost structure. These costs are primarily reported in cost of services and therefore do not include amounts that are capitalized as internally developed software.

•Operating model optimization program represents employee separation costs, facility lease exit costs and other business process optimization expenses incurred in connection with our transformation plan. We excluded these expenses through the end of the program in 2025 as we believe they are not directly correlated to the underlying performance of our business. Further, these costs will vary and may not be comparable during the transformation initiative as we progress toward an optimized operating model. These costs are reported primarily in restructuring and selling, general and administrative on our Consolidated Statements of Operations.

•Net other adjustments principally relate to: (i) deferred loan fee expense from debt prepayments and refinancing, (ii) other debt financing expenses consisting primarily of revolving credit facility deferred financing fee amortization and commitment fees and expenses associated with ratings agencies and interest rate hedging, (iii) currency remeasurement on foreign operations, (iv) legal and regulatory expenses, net, and (v) other non-operating (income) and expense. We exclude these expenses as we believe they are not directly correlated to the underlying performance of our business and create variability between periods based on the nature and timing of the expense or income. These costs are reported in selling, general and administrative and in non-operating income and expense, net as applicable based on their nature on our Consolidated Statements of Operations.

Consolidated Adjusted EBITDA Margin

Management defines Consolidated Adjusted EBITDA Margin as Consolidated Adjusted EBITDA divided by total revenue as reported.

Adjusted Net Income

Management has excluded the following items from net income attributable to TransUnion in order to calculate Adjusted Net Income for the periods presented:

•Amortization of certain intangible assets presents non-cash amortization expenses related to assets that arose from our 2012 change in control transaction and business combinations occurring after our 2012 change in control. We exclude these expenses as we believe they are not directly correlated to the underlying performance of our business operations and vary dependent upon the timing of the transactions that give rise to these assets. Amortization of intangible assets is included in depreciation and amortization on our Consolidated Statements of Operations.

•Stock-based compensation (see Consolidated Adjusted EBITDA above)

•Mergers and acquisitions, divestiture and business optimization (see Consolidated Adjusted EBITDA above)

•Accelerated technology investment (see Consolidated Adjusted EBITDA above)

•Operating model optimization program (see Consolidated Adjusted EBITDA above)

•Net other is consistent with the definition in Consolidated Adjusted EBITDA above except that other debt financing expenses and certain other miscellaneous income and expense that are included in the adjustment to calculate Adjusted EBITDA are excluded in the adjustment made to calculate Adjusted Net Income.

•Total adjustments for income taxes relates to the cumulative adjustments discussed below for Adjusted Provision for Income Taxes. This adjustment is made for the reasons indicated in Adjusted Provision for Income Taxes below. Adjustments related to the provision for income taxes are included in the line item by this name on our consolidated statement of operations.

Adjusted Diluted Earnings Per Share

Management defines Adjusted Diluted Earnings per Share as Adjusted Net Income divided by the weighted-average diluted shares outstanding.

Adjusted Provision for Income Taxes

Management has excluded the following items from our provision for income taxes for the periods presented:

•Tax effect of above adjustments represents the income tax effect of the adjustments related to Adjusted Net Income described above. The tax rate applied to each adjustment is based on the nature of each line item. We include the tax effect of the adjustments made to Adjusted Net Income to provide a comprehensive view of our adjusted net income.

•Excess tax (benefit) expense for stock-based compensation is the permanent difference between expenses recognized for book purposes and expenses recognized for tax purposes, in each case related to stock-based compensation expense. We exclude this amount from the Adjusted Provision for Income Taxes in order to be consistent with the exclusion of stock-based compensation from the calculation of Adjusted Net Income.

•Other principally relates to (i) deferred tax adjustments, including rate changes, (ii) infrequent or unusual valuation allowance adjustments, (iii) return to provision, tax authority audit adjustments, and reserves related to prior periods, and (iv) other non-recurring items. We exclude these items because they create variability that impacts comparability between periods.

Adjusted Effective Tax Rate

Management defines Adjusted Effective Tax Rate as Adjusted Provision for Income Taxes divided by Adjusted income before income taxes. We calculate adjusted income before income taxes by excluding the pre-tax adjustments in the calculation of Adjusted Net Income discussed above and noncontrolling interest related to these pre-tax adjustments from income before income taxes.

Leverage Ratio

Management defines Leverage Ratio as net debt divided by Consolidated Adjusted EBITDA for the most recent twelve-month period including twelve months of Adjusted EBITDA from significant acquisitions. Net debt is defined as total debt less cash and cash equivalents as reported on the balance sheet as of the end of the period.

This earnings release presents constant currency growth rates assuming foreign currency exchange rates are consistent between years. This allows financial results to be evaluated without the impact of fluctuations in foreign

currency exchange rates. This earnings release also presents organic constant currency growth rates, which assumes consistent foreign currency exchange rates between years and also eliminates the impact of our recent acquisitions. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates and the impacts of recent acquisitions.

Free cash flow is defined as cash provided by operating activities less capital expenditures and is a measure we may refer to.

Refer to Schedules 1 through 7 for a reconciliation of our non-GAAP financial measures to the most directly comparable GAAP financial measure.

SCHEDULE 1

TRANSUNION AND SUBSIDIARIES

Revenue and Adjusted EBITDA growth rates as Reported, CC, Inorganic, Organic and Organic CC

(Unaudited)


	For the Three Months Ended December 31, 2025 compared with the Three Months Ended December 31, 2024								For the Year Ended December 31, 2025 compared with the Year Ended December 31, 2024
	Reported		CC Growth1		Inorganic		Organic CC Growth2		Reported		CC Growth1		Inorganic		Organic CC Growth2
Revenue:
Consolidated	13.0	%	12.8	%	0.6	%	12.1	%	9.4	%	9.5	%	0.5	%	9.1	%
U.S. Markets	16.0	%	16.0	%	0.2	%	15.7	%	10.5	%	10.5	%	0.2	%	10.3	%
Financial Services	18.8	%	18.8	%	0.1	%	18.7	%	17.5	%	17.5	%	—	%	17.5	%
Emerging Verticals	15.8	%	15.8	%	—	%	15.8	%	8.5	%	8.5	%	—	%	8.5	%
Consumer Interactive	9.0	%	8.8	%	1.3	%	7.5	%	(2.3)	%	(2.3)	%	1.0	%	(3.3)	%
International	4.4	%	3.6	%	1.9	%	1.8	%	5.5	%	6.1	%	1.5	%	4.7	%
Canada	12.9	%	12.9	%	—	%	12.9	%	8.2	%	10.3	%	—	%	10.3	%
Latin America	2.9	%	(3.3)	%	—	%	(3.3)	%	0.5	%	1.9	%	—	%	1.9	%
United Kingdom	22.1	%	17.7	%	7.7	%	10.3	%	18.4	%	14.8	%	6.3	%	8.8	%
Africa	6.6	%	2.6	%	—	%	2.6	%	11.7	%	9.2	%	—	%	9.2	%
India	(9.3)	%	(4.4)	%	—	%	(4.4)	%	(1.9)	%	2.1	%	—	%	2.1	%
Asia Pacific	(11.4)	%	(11.1)	%	—	%	(11.1)	%	(4.9)	%	(4.8)	%	—	%	(4.8)	%

Adjusted EBITDA:
Consolidated	10.3	%	10.3	%	(0.1)	%	10.3	%	9.3	%	9.7	%	(0.1)	%	9.7	%
U.S. Markets	11.7	%	11.7	%	0.1	%	11.6	%	10.0	%	10.0	%	0.1	%	10.0	%
International	2.7	%	2.8	%	(0.5)	%	3.2	%	3.5	%	5.1	%	(0.4)	%	5.4	%

1.Constant Currency (“CC”) growth rates assume foreign currency exchange rates are consistent between years. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates.

2.Organic CC growth rate is the CC growth rate less inorganic growth rate.

SCHEDULE 2

TRANSUNION AND SUBSIDIARIES

Consolidated and Segment Revenue, Adjusted EBITDA, and Adjusted EBITDA Margins (Unaudited)

(dollars in millions)


	Three Months Ended December 31,						Years Ended December 31,
	2025			2024			2025			2024
Revenue:
U.S. Markets gross revenue
Financial Services	$	423.1		$	356.1		$	1,684.6		$	1,433.8
Emerging Verticals	350.3			302.3			1,318.8			1,215.5
Consumer Interactive	145.5			133.5			575.3			588.7
U.S. Markets gross revenue	$	918.9		$	792.0		$	3,578.7		$	3,237.9

International gross revenue
Canada	$	43.5		$	38.5		$	167.0		$	154.4
Latin America	34.8			33.8			135.4			134.7
United Kingdom	72.2			59.2			269.7			227.7
Africa	19.6			18.4			74.1			66.4
India	60.4			66.6			264.2			269.4
Asia Pacific	25.4			28.6			100.5			105.8
International gross revenue	$	255.9		$	245.1		$	1,011.0		$	958.4

Total gross revenue	$	1,174.8		$	1,037.1		$	4,589.7		$	4,196.3

Intersegment revenue eliminations
U.S. Markets	$	(1.9)		$	1.3		$	(7.2)		$	(6.2)
International	(1.5)			(1.6)			(6.2)			(6.4)
Total intersegment revenue eliminations	$	(3.4)		$	(0.3)		$	(13.4)		$	(12.6)

Total revenue as reported	$	1,171.4		$	1,036.8		$	4,576.3		$	4,183.8

Adjusted EBITDA:
U.S. Markets	$	348.5		$	311.9		$	1,356.6		$	1,232.8
International	110.3			107.4			440.5			425.5
Corporate	(42.1)			(41.4)			(151.1)			(152.0)

Adjusted EBITDA Margin:1
U.S. Markets	37.9		%	39.4		%	37.9		%	38.1		%
International	43.1		%	43.8		%	43.6		%	44.4		%

1.Segment Adjusted EBITDA Margins are calculated using segment gross revenue and segment Adjusted EBITDA. Consolidated Adjusted EBITDA Margin is calculated using total revenue as reported and consolidated Adjusted EBITDA.


	Three Months Ended December 31,						Years Ended December 31,
	2025			2024			2025			2024
Reconciliation of Net income attributable to TransUnion to consolidated Adjusted EBITDA:
Net income attributable to TransUnion	$	101.2		$	66.2		$	455.4		$	284.4


Net interest expense	54.4			53.4			202.6			236.7
Provision (benefit) for income taxes	37.6			29.9			173.1			98.8
Depreciation and amortization	147.6			137.3			574.8			537.8
EBITDA	$	340.8		$	286.8		$	1,405.8		$	1,157.7
Adjustments to EBITDA:
Stock-based compensation	$	38.7		$	35.6		$	145.6		$	121.2
Mergers and acquisitions, divestitures and business optimization1	9.9			9.4			30.0			26.5
Accelerated technology investment2	19.1			25.6			84.5			84.2
Operating model optimization program3	5.6			8.4			32.3			94.8
Net other4	2.7			12.1			(52.3)			21.8
Total adjustments to EBITDA	$	75.9		$	91.1		$	240.1		$	348.7
Consolidated Adjusted EBITDA	$	416.7		$	377.9		$	1,645.9		$	1,506.3

Net income attributable to TransUnion margin	8.6		%	6.4		%	10.0		%	6.8		%
Consolidated Adjusted EBITDA margin5	35.6		%	36.5		%	36.0		%	36.0		%

As a result of displaying amounts in millions, rounding differences may exist in the tables above and footnotes below.

1.Mergers and acquisitions, divestitures and business optimization consisted of the following adjustments:


	Three Months Ended December 31,				Years Ended December 31,
	2025		2024		2025		2024
Transaction and integration costs	$	3.0	$	4.2	$	13.9	$	11.2
Fair value and impairment adjustments	7.4		7.6		16.8		8.4
Post-acquisition adjustments	(0.6)		(2.3)		(0.7)		7.0
Total mergers and acquisitions, divestitures and business optimization	$	9.9	$	9.4	$	30.0	$	26.5

2.Represents expenses associated with our accelerated technology investment to migrate to the cloud. There are three components of the accelerated technology investment: (i) building foundational capabilities, which includes establishing a modern, API-based and services-oriented software architecture, (ii) the migration of each application and customer data to the new enterprise platform, including the redundant software costs during the migration period, as well as the efforts to decommission the legacy system, and (iii) program enablement, which includes dedicated resources to support the planning and execution of the program. The amounts for each category of cost are as follows:


	Three Months Ended December 31,				Years Ended December 31,
	2025		2024		2025		2024
Foundational Capabilities	$	2.8	$	10.7	$	18.8	$	35.7
Migration Management	16.4		13.3		65.7		43.2
Program Enablement	—		1.6		—		5.4
Total accelerated technology investment	$	19.1	$	25.6	$	84.5	$	84.2

3.Operating model optimization consisted of the following adjustments:


	Three Months Ended December 31,				Years Ended December 31,
	2025		2024		2025		2024
Employee separation	$	1.8	$	—	$	6.8	$	24.7
Facility exit	—		—		—		42.1
Business process optimization	3.8		8.4		25.5		28.0
Total operating model optimization	$	5.5	$	8.4	$	32.3	$	94.8

4.Net other consisted of the following adjustments:


	Three Months Ended December 31,				Years Ended December 31,
	2025		2024		2025		2024
Deferred loan fee expense from debt prepayments and refinancings	$	—	$	8.6	$	0.1	$	17.8
Other debt financing expenses	0.5		0.7		2.1		2.4
Currency remeasurement on foreign operations	1.1		2.5		0.5		2.1
Legal and regulatory expenses, net	—		—		(56.0)		—
Other non-operating (income) and expense	1.1		0.2		1.0		(0.5)
Total other adjustments	$	2.7	$	12.1	$	(52.3)	$	21.8

5.Consolidated Adjusted EBITDA margin is calculated by dividing Consolidated Adjusted EBITDA by total revenue.

SCHEDULE 3

TRANSUNION AND SUBSIDIARIES

Adjusted Net Income and Adjusted Diluted Earnings Per Share (Unaudited)

(in millions, except per share data)


	Three Months Ended December 31,				Years Ended December 31,
	2025		2024		2025		2024


Net income attributable to TransUnion	$	101.2	$	66.2	$	455.4	$	284.4

Weighted-average shares outstanding:
Basic	193.0		194.9		194.4		194.4
Diluted	194.9		197.3		196.6		196.7

Basic earnings per common share from:


Net income attributable to TransUnion	$	0.52	$	0.34	$	2.34	$	1.46
Diluted earnings per common share from:


Net income attributable to TransUnion	$	0.52	$	0.34	$	2.32	$	1.45

Reconciliation of Net income attributable to TransUnion to Adjusted Net Income:
Net income attributable to TransUnion	$	101.2	$	66.2	$	455.4	$	284.4


Adjustments before income tax items:
Amortization of certain intangible assets	73.1		71.3		290.2		286.1
Stock-based compensation	38.7		35.6		145.6		121.2
Mergers and acquisitions, divestitures and business optimization1	9.9		9.4		30.0		26.5
Accelerated technology investment2	19.1		25.6		84.5		84.2
Operating model optimization program3	5.6		8.4		32.3		94.8
Net other4	1.1		11.6		(55.6)		20.2
Total adjustments before income tax items	$	147.4	$	161.9	$	527.0	$	633.1
Total adjustments for income taxes5	$	(40.1)	$	(35.9)	$	(136.8)	$	(148.7)
Adjusted Net Income	$	208.4	$	192.2	$	845.7	$	768.8

Weighted-average shares outstanding:
Basic	193.0		194.9		194.4		194.4
Diluted	194.9		197.3		196.6		196.7

Adjusted Earnings per Share:
Basic	$	1.08	$	0.99	$	4.35	$	3.95
Diluted	$	1.07	$	0.97	$	4.30	$	3.91


	Three Months Ended December 31,				Years Ended December 31,
	2025		2024		2025		2024
Reconciliation of Diluted earnings per share from Net income attributable to TransUnion to Adjusted Diluted Earnings per Share:
Diluted earnings per common share from:
Net income attributable to TransUnion	$	0.52	$	0.34	$	2.32	$	1.45


Adjustments before income tax items:
Amortization of certain intangible assets	0.38		0.36		1.48		1.45
Stock-based compensation	0.20		0.18		0.74		0.62
Mergers and acquisitions, divestitures and business optimization1	0.05		0.05		0.15		0.13
Accelerated technology investment2	0.10		0.13		0.43		0.43
Operating model optimization program3	0.03		0.04		0.16		0.48
Net other4	0.01		0.06		(0.28)		0.10
Total adjustments before income tax items	$	0.76	$	0.82	$	2.68	$	3.22
Total adjustments for income taxes5	(0.21)		(0.18)		(0.70)		(0.76)

Adjusted Diluted Earnings per Share	$	1.07	$	0.97	$	4.30	$	3.91

Each component of earnings per share is calculated independently, therefore, rounding differences exist in the table above.

1.Mergers and acquisitions, divestitures and business optimization consisted of the following adjustments:


	Three Months Ended December 31,				Years Ended December 31,
	2025		2024		2025		2024
Transaction and integration costs	$	3.0	$	4.2	$	13.9	$	11.2
Fair value and impairment adjustments	7.4		7.6		16.8		8.4
Post-acquisition adjustments	(0.6)		(2.3)		(0.7)		7.0
Total mergers and acquisitions, divestitures and business optimization	$	9.9	$	9.4	$	30.0	$	26.5

2.Represents expenses associated with our accelerated technology investment to migrate to the cloud. There are three components of the accelerated technology investment: (i) building foundational capabilities which includes establishing a modern, API-based and services-oriented software architecture, (ii) the migration of each application and customer data to the new enterprise platform, including the redundant software costs during the migration period, as well as the efforts to decommission the legacy system, and (iii) program enablement, which includes dedicated resources to support the planning and execution of the program. The amounts for each category of cost are as follows:


	Three Months Ended December 31,				Years Ended December 31,
	2025		2024		2025		2024
Foundational Capabilities	$	2.8	$	10.7	$	18.8	$	35.7
Migration Management	16.4		13.3		65.7		43.2
Program Enablement	—		1.6		—		5.4
Total accelerated technology investment	$	19.1	$	25.6	$	84.5	$	84.2

3.Operating model optimization consisted of the following adjustments:


	Three Months Ended December 31,				Years Ended December 31,
	2025		2024		2025		2024
Employee separation	$	1.8	$	—	$	6.8	$	24.7
Facility exit	—		—		—		42.1
Business process optimization	3.8		8.4		25.5		28.0
Total operating model optimization	$	5.5	$	8.4	$	32.3	$	94.8

4.Net other consisted of the following adjustments:


	Three Months Ended December 31,				Years Ended December 31,
	2025		2024		2025		2024
Deferred loan fee expense from debt prepayments and refinancing	$	—	$	8.6	$	0.1	$	17.8
Currency remeasurement on foreign operations	1.1		2.5		0.5		2.1
Legal and regulatory expenses, net	—		—		(56.0)		—
Other non-operating (income) and expense	—		0.4		(0.2)		0.3
Total other adjustments	$	1.1	$	11.5	$	(55.6)	$	20.2

5.Total adjustments for income taxes represents the total of adjustments discussed to calculate the Adjusted Provision for Income Taxes.

SCHEDULE 4

TRANSUNION AND SUBSIDIARIES

Adjusted Provision for Income Taxes, Effective Tax Rate and Adjusted Effective Tax Rate (Unaudited)

(dollars in millions)


	Three Months Ended December 31,						Years Ended December 31,
	2025			2024			2025			2024
Income before income taxes	$	142.3		$	100.6		$	643.0		$	401.1
Total adjustments before income tax items from Schedule 3	147.4			161.9			527.0			633.1
Adjusted income before income taxes	$	289.7		$	262.5		$	1,170.0		$	1,034.3

Reconciliation of Provision for income taxes to Adjusted Provision for Income Taxes
Provision for income taxes	(37.6)			(29.9)			(173.1)			(98.8)
Adjustments for income taxes:
Tax effect of above adjustments	(35.5)			(37.0)			(135.3)			(145.5)
Eliminate impact of excess tax (benefit) expense for stock-based compensation	0.1			(0.1)			(1.5)			(1.5)
Other1	(4.7)			1.3			—			(1.7)
Total adjustments for income taxes	$	(40.1)		$	(35.9)		$	(136.8)		$	(148.7)
Adjusted Provision for Income Taxes	$	(77.8)		$	(65.8)		$	(309.9)		$	(247.6)

Effective tax rate	26.5		%	29.7		%	26.9		%	24.6		%
Adjusted Effective Tax Rate	26.8		%	25.1		%	26.5		%	23.9		%

As a result of displaying amounts in millions, rounding differences may exist in the table above.

1.Other adjustments for income taxes include:


	Three Months Ended December 31,				Years Ended December 31,
	2025		2024		2025		2024
Deferred tax adjustments	$	1.5	$	15.2	$	(4.1)	$	13.8
Valuation allowance adjustments	(7.0)		(10.6)		(5.3)		(12.7)
Return to provision, audit adjustments, and reserves related to prior periods	4.1		(3.5)		11.3		(2.3)
Other adjustments	(3.3)		0.1		(2.0)		(0.5)
Total other adjustments	$	(4.7)	$	1.3	$	—	$	(1.7)

SCHEDULE 5

TRANSUNION AND SUBSIDIARIES

Leverage Ratio (Unaudited)

(dollars in millions)


	Years Ended December 31,
	2025		2024
Reconciliation of Net income attributable to TransUnion to Consolidated Adjusted EBITDA:
Net income attributable to TransUnion	$	455.4	$	284.4


Net interest expense	202.6		236.7
Provision for income taxes	173.1		98.8
Depreciation and amortization	574.8		537.8
EBITDA	$	1,405.8	$	1,157.7
Adjustments to EBITDA:
Stock-based compensation	$	145.6	$	121.2
Mergers and acquisitions, divestitures and business optimization1	30.0		26.5
Accelerated technology investment2	84.5		84.2
Operating model optimization program3	32.3		94.8
Net other4	(52.3)		21.8
Total adjustments to EBITDA	$	240.1	$	348.7
Consolidated Adjusted EBITDA	1,645.9		1,506.3
Adjusted EBITDA for Pre-Acquisition Period5	0.9		—
Leverage Ratio Adjusted EBITDA	$	1,646.8	$	1,506.3

Total debt	$	5,103.8	$	5,147.2
Less: Cash and cash equivalents	853.6		679.5
Net Debt	$	4,250.2	$	4,467.8

Ratio of Net Debt to Net income attributable to TransUnion	9.3		15.7
Leverage Ratio6	2.6		3.0

As a result of displaying amounts in millions, rounding differences may exist in the table above.

1.Mergers and acquisitions, divestitures and business optimization consisted of the following adjustments:


	Years Ended December 31,
	2025		2024
Transaction and integration costs	$	13.9	$	11.2
Fair value and impairment adjustments	16.8		8.4
Post-acquisition adjustments	(0.7)		7.0
Total mergers and acquisitions, divestitures and business optimization	$	30.0	$	26.5

2.Represents expenses associated with our accelerated technology investment to migrate to the cloud. There are three components of the accelerated technology investment: (i) building foundational capabilities which includes establishing a modern, API-based and services-oriented software architecture, (ii) the migration of each application and customer data to the new enterprise platform, including the redundant software costs during the migration period, as well as the efforts to decommission the legacy system, and (iii) program enablement, which includes dedicated resources to support the planning and execution of the program. The amounts for each category of cost are as follows:


	Years Ended December 31,
	2025		2024
Foundational Capabilities	$	18.8	$	35.7
Migration Management	65.7		43.2
Program Enablement	—		5.4
Total accelerated technology investment	$	84.5	$	84.2

3.Operating model optimization consisted of the following adjustments:


	Years Ended December 31,
	2025		2024
Employee separation	$	6.8	$	24.7
Facility exit	—		42.1
Business process optimization	25.5		28.0
Total operating model optimization	$	32.3	$	94.8

4.Net other consisted of the following adjustments:


	Years Ended December 31,
	2025		2024
Deferred loan fee expense from debt prepayments and refinancings	$	0.1	$	17.8
Other debt financing expenses	2.1		2.4
Currency remeasurement on foreign operations	0.5		2.1
Legal and regulatory expenses, net	(56.0)		—
Other non-operating (income) and expense	1.0		(0.5)
Total other adjustments	$	(52.3)	$	21.8

5.For years in which we made significant acquisitions, we have included a twelve-month period of adjusted EBITDA including Adjusted EBITDA for the period prior to our acquisition. The year ended December 31, 2025 includes the three months of Adjusted EBITDA related to Monevo prior to our acquisition in April 2025.

6.We define Leverage Ratio as net debt divided by Leverage Ratio Adjusted EBITDA as shown in the table above.

SCHEDULE 6

TRANSUNION AND SUBSIDIARIES

Segment Depreciation and Amortization (Unaudited)

(in millions)


	Three Months Ended December 31,				Years Ended December 31,
	2025		2024		2025		2024

U.S. Markets	$	107.2	$	101.1	$	420.3	$	400.5
International	39.5		35.2		150.7		133.3
Corporate	0.8		0.9		3.7		3.9
Total depreciation and amortization	$	147.6	$	137.3	$	574.8	$	537.8

As a result of displaying amounts in millions, rounding differences may exist in the table above.

SCHEDULE 7

TRANSUNION AND SUBSIDIARIES

Reconciliation of Non-GAAP Guidance (Unaudited)

(in millions, except per share data)


	Three Months Ended March 31, 2026						Year Ended December 31, 2026
	Low			High			Low			High
Guidance reconciliation of Net income attributable to TransUnion to Adjusted EBITDA:
Net income attributable to TransUnion	$	118		$	123		$	538		$	553
Interest, taxes and depreciation and amortization	252			254			1,045			1,051
EBITDA	$	370		$	376		$	1,583		$	1,604
Stock-based compensation, mergers, acquisitions divestitures and business optimization-related expenses and other adjustments1	44			44			173			173
Adjusted EBITDA	$	414		$	420		$	1,756		$	1,777

Net income attributable to TransUnion margin	9.9		%	10.2		%	10.9		%	11.1		%
Consolidated Adjusted EBITDA margin2	34.6		%	34.9		%	35.5		%	35.7		%

Guidance reconciliation of Diluted earnings per share to Adjusted Diluted Earnings per Share:
Diluted earnings per share	$	0.60		$	0.63		$	2.75		$	2.83
Adjustments to diluted earnings per share1	0.47			0.47			1.88			1.89
Adjusted Diluted Earnings per Share	$	1.08		$	1.10		$	4.63		$	4.71

As a result of displaying amounts in millions, rounding differences may exist in the table above.

1.These adjustments include the same adjustments we make to our Adjusted EBITDA and Adjusted Net Income as discussed in the Non-GAAP Financial Measures section of our Earnings Release.

2.Consolidated Adjusted EBITDA margin is calculated by dividing Consolidated Adjusted EBITDA by total revenue.

Fourth Quarter 2025 Earnings February 12, 2026 Chris Cartwright, President and CEO Todd Cello, CFO Exhibit 99.2

2© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. Non-GAAP Financial InformationForward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of TransUnion’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Factors that could cause TransUnion’s actual results to differ materially from those described in the forward-looking statements include: macroeconomic effects and changes in market conditions, including the impact of tariffs, inflation, risk of recession and industry trends and adverse developments in the debt, consumer credit and financial services markets, including the impact on the carrying value of our assets in all of the markets where we operate; our ability to provide competitive services and prices; our ability to retain or renew existing agreements with large or long-term customers; our ability to maintain the security and integrity of our data; our ability to deliver services timely without interruption; uncertainty related to FICO’s new Mortgage Direct License Program; our ability to maintain our access to data sources; government regulation and changes in the regulatory environment; litigation or regulatory proceedings; our approach to the use of artificial intelligence; our ability to effectively manage our costs; our ability to maintain effective internal control over financial reporting or disclosure controls and procedures; economic and political stability in the United States and risks associated with the international markets where we operate; our ability to effectively develop and maintain strategic alliances and joint ventures; our ability to timely develop new services and the market’s willingness to adopt our new services; our ability to manage and expand our operations and keep up with rapidly changing technologies; our ability to acquire businesses, successfully secure financing for our acquisitions, timely consummate our acquisitions, successfully integrate the operations of our acquisitions, control the costs of integrating our acquisitions and realize the intended benefits of such acquisitions; our ability to protect and enforce our intellectual property, trade secrets and other forms of unpatented intellectual property; our ability to defend our intellectual property from infringement claims by third parties; the ability of our outside service providers and key vendors to fulfill their obligations to us; further consolidation in our end-customer markets; the increased availability of free or inexpensive consumer information; losses against which we do not insure; risks related to our indebtedness, including our ability to make timely payments of principal and interest and our ability to satisfy covenants in the agreements governing our indebtedness; our ability to maintain our liquidity; stock price volatility; share repurchase plans; dividend rate; our reliance on key management personnel; changes in tax laws or adverse outcomes resulting from examination of our tax returns; and other one-time events and other factors that can be found in our Annual Report on Form 10-K for the year ended December 31, 2025, to be filed with the Securities and Exchange Commission (“SEC”) in February 2026, and our Annual Report on Form 10-K for the year ended December 31, 2024, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, which are filed with the SEC and are available on TransUnion’s website (www.transunion.com/tru) and on the SEC’s website (www.sec.gov). TransUnion undertakes no obligation to publicly release the result of any revisions to these forward- looking statements to reflect the impact of events or circumstances that may arise after the date of this presentation. This investor presentation includes certain non-GAAP measures that are more fully described in the appendices to the presentation. Exhibit 99.1, “Press release of TransUnion dated February 12, 2026, announcing results for the quarter and year ended December 31, 2025,” under the heading ‘Non-GAAP Financial Measures,’” furnished to the Securities and Exchange Commission on February 12, 2026. These financial measures should be reviewed in conjunction with the relevant GAAP financial measures and are not presented as alternative measures of GAAP. Other companies in our industry may define or calculate these measures differently than we do, limiting their usefulness as comparative measures. Because of these limitations, these non-GAAP financial measures should not be considered in isolation or as substitutes for performance measures calculated in accordance with GAAP. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures for each of the periods included in this presentation are included in the Appendices at the back of this investor presentation.

3© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. Fourth quarter highlights and 2025 accomplishments1 2026 strategic priorities2 3@ Copyright 2026 Tran Union, its ubsidiaries and/or affiliates. All Rights Reserved. Fourth quarter 2025 financial results3 First quarter and full-year 2026 guidance4

4© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. *Revenue growth figures referenced above are organic constant currency. International revenue grew +2%* led by double-digit growth in Canada and the U.K. U.S. Markets revenue +16%* with strength across Financial Services (+19%) and Emerging Verticals (+16%) Organic constant currency revenue +12%* Adjusted Diluted EPS +10%, or mid- teens excluding tax rate reset Exceeded guidance on revenue, Adjusted EBITDA and Adjusted Diluted EPS ~$150 million of repurchases in Q4; ~$300 million in 2025 Quarterly dividend raised to $0.125 Leverage Ratio reduced to 2.6x For additional information, refer to the “Non-GAAP Financial Information” section on slide 2 and the Appendix at the back of this investor presentation. Fourth quarter 2025 highlights Q4 Update

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 5 Diversified revenue growth in Q4 led by U.S., Canada and the U.K. 1 All figures are organic constant-currency revenue growth rates. 2 Non-credit growth includes Marketing, Fraud, Communications, Consumer and All Other Note: “p.p.” refers to percentage point (contribution to total segment growth rate) Credit • Robust growth across industry verticals: Financial Services +19% (+11% ex-mortgage) and Emerging Verticals accelerating to +16% • Strength across Solutions: Marketing (+15%) and Fraud (+14%) had strongest quarter since 2022; Credit +19% due to volumes, pricing and innovation-led wins • U.K. and Canada both grew double digits, with new wins driving outperformance vs. underlying markets • India declined (4%) due to unsecured and card lending reset; 2025 likely floor for volumes, with expected mid- single digit growth in 2026 and double-digit thereafter International1 Growth DriversU.S. Markets1 Growth Drivers 2.5 p.p. 2% 2 p.p. (1.5) p.p. (1) p.p. U.K. Canada APAC, Africa, LATAM India International 5 p.p. 16% 4 p.p. 7 p.p. Volumes / new wins Pricing Non credit growth U.S. Markets Q4 Update

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 6 Strong results in 2025 enabled accretive capital deployment +9% Organic constant currency revenue growth +$183 million above high-end of February 2025 guidance 8 straight quarters of at least high- single digit growth Strength across Credit (+13%), Fraud (+8%) and Marketing (+7%) 36.0% Adjusted EBITDA Margin +$56 million above high-end of February 2025 guidance +50bps expansion excluding FICO mortgage royalty impact Transformation program completed on budget with committed savings +10% Adjusted Diluted EPS growth +$0.22 above high-end of February 2025 guidance +14% growth excluding 400bps impact from tax rate reset ~$390 million cash returned to shareholders via repurchases and dividends 2.6x Leverage Ratio (vs. 3.0x at year-end 2024) Trans Union de Mexico acquisition expected to close in H1 2026 2025 Highlights For additional information, refer to the “Non-GAAP Financial Information” section on slide 2 and the Appendix at the back of this investor presentation.

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 7 Credit 56% Consumer 15% Marketing 11% Fraud 16% Other 2% Credit 52% Consumer 16% Marketing 13% Fraud 17% Other 2% Credit 71% Consumer 12% Marketing 2% Fraud 15% + = Scaling our complementary global solution families U.S. Markets ($3.6 billion) International ($1.0 billion) Total Company ($4.6 billion) Note – “All Other” includes products sold for specific uses cases outside of Credit, Consumer, Marketing and Fraud Solutions. Revenue by Solution Family (FY 2025) 2025 Highlights

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 8 Solution Families Organic Constant Currency Growth 2025 Growth Drivers Innovation-led strength across our 4 core solutions families driving higher growth potential For additional information, refer to the “Non-GAAP Financial Information” section on slide 2 and the Appendix at the back of this investor presentation. *Excludes large breach win in Q3 2024. Inclusive of large breach win, Consumer Solutions grew +7% in 2024 and declined -1% in 2025 (1%) ex-breach win* Consumer • New sales to indirect customers • Direct-to-consumer freemium launch • Strong International (~15% of mix); +46%/+20% in 2024/25 +6% ex-breach win* +8%Fraud • TCS momentum (grew 30%+ to $160M in 2025; $200M in 2026F); agreement to acquire mobile division of RealNetworks • Improving performance in core fraud suite +8% FlatMarketing • Robust Identity bookings • Increasing Audience sales and usage • Strong Measurement retention +7% +13%Credit • Core volume growth, particularly U.S. non-mortgage, and consistent pricing • Strong sales of alternative data (FactorTrust) and TruIQ +13% FY 2024 FY 2025 Launched 30+ major product enhancements and new products in 2025 Robust pipeline for newest product launches Record retention rates in U.S. Markets 2025 Highlights

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 9 Strong results enabled by progress on our business transformation We have built a global, unified product and operating platform to fuel scalable growth • Strengthened leadership team, including recent addition of Francesca Noli (formerly Capital One) as Head of Consumer Solutions • Standardized product management approach to accelerate new product introductions • Global Capability Center network becoming leading innovation centers • Migrated 100+ U.S. credit customers to OneTru • Augmented OneTru capabilities across identity and AI-enablement • Accelerated OneTru diffusion with TruIQ analytics capabilities launched in India, Canada and U.K. • Completed transformation investment program, achieving targeted 2025-2026 savings Enhanced our global operating model Executed on technology modernization 2025 Highlights

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 10 2026 focus: Continuing to deliver strong revenue and earnings growth +8% to 9% Organic constant currency revenue growth +5% to 6% excluding FICO mortgage royalty Expecting 3rd straight year of high-single digit growth U.S. Markets driven by volume growth and momentum across solutions Tempered recovery in International +7% to 8% Adjusted EBITDA growth 50bps to 70bps expansion excluding FICO mortgage royalty Expecting 3rd straight year of at least high-single digit growth Underlying margin expansion driven by revenue growth and remaining $35M of transformation cost savings +8% to 10% Adjusted Diluted EPS growth Upside potential from capital allocation Expecting 3rd straight year of double-digit growth Trans Union de Mexico not included in guidance; expected to be modestly accretive in Year 1 upon closing Maintaining prudent conservatism; results toward high-end of guidance if current conditions persist 2026 Priorities *Underlying margin expansion excludes the impact from no-margin FICO mortgage royalties For additional information, refer to the “Non-GAAP Financial Information” section on slide 2 and the Appendix at the back of this investor presentation. 2026 Guidance and Expectations:

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 11 • Accelerate pace of major product enhancements and introductions • Embed AI across solutions to boost predictiveness and capture customer value • Globally deploy leading products such as TruIQ and Trusted Call Solutions Turbocharge innovation and AI-powered solutions 2026 strategic priorities build on our momentum to drive innovation-led, scalable growth Enhance commercial momentum across portfolio Unlock full potential of global product and operating platform • Sharpen go-to-market approach to drive growth across Credit, Fraud, Marketing and Consumer • Enable VantageScore adoption in mortgage • Return India and other emerging markets to strong growth trajectory • Targeting completion of all U.S. credit migrations by mid- year • Modernize credit and analytic capabilities in Canada, U.K. and Philippines • Continue to refine global operating model to drive operational excellence, scale and efficiencies 2026 Priorities

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 12 TransUnion is advantaged for an AI future with strong competitive moats Positioned for AI-powered growth: AI-enabled customers consume more data and adopt innovation more rapidly AI and advanced analytics boost predictivity of our data and models Opportunity to capture more value with AI agents by performing work done by internal client teams or upstream software Core contributory credit databases Non-public, highly regulated data furnished by thousands of institutions + Industry-leading identity graph Proprietary data assets, 100k+ data sources, and network effect with unique signal from providing fraud and marketing solutions + Deep domain expertise Across verticals and solutions with advanced analytical rigor Data as a foundational advantage AI-embedded across organization AI-enabled platform (OneTru) Enhancing data onboarding, identity resolution, analytics and delivery + Next-gen AI-powered products Role-based agents for TruIQ Next-gen fraud detection models Advanced behavioral marketing analytics + Internal productivity initiatives Driving efficiency for our engineers, operations and corporate functions + Powering our leading products, priced at basis points of the enormous value they create for customers Making us faster, higher performing and more efficient across organization

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 13 Consolidated fourth quarter 2025 highlights For additional information, refer to the “Non-GAAP Financial Information” section on slide 2 and the Appendix at the back of this investor presentation. Reported ($M) Y/Y Change Revenue $1,171 13% Organic Constant Currency Revenue 12% Adjusted EBITDA $417 10% Adjusted EBITDA Margin 35.6% (90)bps Adjusted Diluted EPS $1.07 10% • 8th straight quarter of at least high-single digit organic constant currency revenue growth • Organic constant currency revenue growth of +12%, or +9% excluding mortgage • Adjusted EBITDA increased +10% with revenue flow- through balanced against growth investments

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 14 U.S. Markets fourth quarter 2025 highlights Note: Rows may not foot due to rounding. For additional information, refer to the “Non-GAAP Financial Information” section on slide 2 and the Appendix at the back of this investor presentation. • U.S. Financial Services +19%, or +11% excluding mortgage − Card & Banking +3% − Consumer Lending +21% − Auto +12% − Mortgage +37% compared to inquiries up 4% • Emerging Verticals +16% with Insurance, Media, Tenant & Employment, and Tech Retail & E-Commerce up double-digits • Consumer Interactive +8% led by Indirect and breach wins Reported ($M) Reported Y/Y FX Impact Inorganic Impact Organic Constant Currency Revenue $919 16% – – 16% Financial Services 423 19% – – 19% Emerging Verticals 350 16% – – 16% Consumer Interactive 146 9% – 1% 8% Adjusted EBITDA $348 12% – – 12% *Revenue growth figures referenced above are organic constant currency.

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 15 International fourth quarter 2025 highlights Note: Rows may not foot due to rounding. For additional information, refer to the “Non-GAAP Financial Information” section on slide 2 and the Appendix at the back of this investor presentation. Reported ($M) Reported Y/Y FX Impact Inorganic Impact Organic Constant Currency Revenue $256 4% 1% 2% 2% Canada 44 13% – – 13% Latin America 35 3% 6% – (3%) U.K. 72 22% 4% 8% 10% Africa 20 7% 4% – 3% India 60 (9%) (5%) – (4%) Asia Pacific 25 (11%) – – (11%) Adjusted EBITDA $110 3% – – 3% *Revenue growth figures referenced above are organic constant currency. • U.K. +10% healthy banking volumes and new wins • Canada +13% strong volumes and broad-based growth across verticals • India (4%) sluggish volumes offsetting new wins and innovation

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 16 Long-Term2025 +2% year-over-year Expecting mid-single digit growth Healthy double-digit growth compounding 2026 TransUnion India Growth Rate* + Good GDP growth (+6.6%) and manageable inflation (~5.5%) – Risk tightening from lenders, particularly in unsecured lending and credit cards – Moderating loan demand due to income pressures – Incremental tariff uncertainty Market Factors Drivers of TransUnion India Outperformance + Continued economic growth + Supportive monetary policy + Healthy asset quality in banking sector – Continued cautiousness from unsecured personal loan and credit card lenders + #5 global GDP with highest growth rate + 1.4 billion consumers with 850 million under 35 years old + Modernizing economy with rapid digitization + High demand for identity, fraud, marketing and collections tools • Value-added enhancements to core credit solutions • Direct-to-consumer • Accelerating product innovation • Introduction of additional TruIQ analytical capabilities • Global IP such as Marketing Solutions, TruIQ, Trusted Call Solutions • Further vertical penetration, including Insurance *Growth rates are organic constant currency Robust long-term opportunity in India despite near-term cyclical pressures

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 17 Natural de-levering and increased shareholder returns Uses of cash2 Leverage Ratio1 1We define Leverage Ratio as net debt divided by Consolidated Adjusted EBITDA for the most recent twelve-month period including twelve months of Adjusted EBITDA from significant acquisitions. Net debt is defined as total debt less cash and cash equivalents as reported on the balance sheet as of the end of the period. Total debt is netted for deferred financing fees / original issue discount. 2“Acquisitions (net of divestitures and cash received)” includes investments in consolidated affiliates (net of cash received), proceeds from divestitures of discontinued operations, purchases of non-controlling interests (net of proceeds from sales of non-controlling interests), purchases of notes receivable, and net proceeds from purchases and sales of other investments; "Repurchases" represents the cost to acquire shares excluding commissions and excise taxes. “Debt payments” represents voluntary and mandatory payments on our debt excluding the $300 million paydown on TLB from upsize in TLA in 2023 Note: For additional information, refer to the “Non-GAAP Financial Information” section on slide 2 and the Appendix at the back of this investor presentation. 3.5x 3.8x 3.6x 3.0x 2.6x 2021 2022 2023 2024 2025 715 350 199 79 78 82 83 91 300 423 81 2022 2023 2024 2025 Acquisitions (net of divestitures and cash received) Repurchases Dividends Debt payments (in $million) • $300 million in repurchases in 2025 against current $1 billion authorization • Natural de-leveraging in 2025 via Adjusted EBITDA growth

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 18 50%+ ~80% 90%+ 2022 - 2024 2025 2026+ (Expected) Executed and delivered on transformation program to drive strong free cash flow For additional information, refer to the “Non-GAAP Financial Information” section on slide 2 and the Appendix at the back of this investor presentation. Free cash flow conversion* * Free cash flow conversion defined as (cash flow from operations less capex) as a percent of Adjusted Net Income; 2022 – 2024 excludes $355M tax payment in 2022 related to gain on sale of Healthcare business. Transformation program Impacted by M&A integration and transformation investments Completed transformation investments OutcomesCommitments 1. One-time spend of $355- 375M in 2023-25 5. Complete program by end of 2025 3. Run rate OpEx savings of $120M-$140M 4. CapEx reduced from 8% of revenue to 6% of sales  Incurred $373M of one- time spend  Completed on time  Achieved ~$130M of annual OpEx savings  Expecting ~6% CapEx to revenue in 2026 2. CapEx of 9% and 8% of revenue in 2024 and 2025  CapEx of 8% and 7% of revenue in 2024 and 2025

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 19 Reported Revenue: $1,195M to $1,205M +9% to +10% M&A contribution: Immaterial FX contribution: ~1pt. benefit Organic Constant Currency Revenue: +8% to +9% FICO mortgage royalty impact ~3pt. benefit Organic CC Revenue ex. FICO mortgage royalty: +5% to +6% Adjusted EBITDA: $414M to $420M +4% to +6% FX contribution: ~1pt. benefit Adjusted EBITDA margin: 34.6% to 34.9% Adjusted EBITDA margin bps change: (160)bps to (140)bps Adjusted Diluted EPS: $1.08 to $1.10 +2% to +5% First quarter 2026 guidance Note: For additional information, refer to the “Non-GAAP Financial Information” section on slide 2 and the Appendix at the back of this investor presentation. Revenue • Mortgage expected to grow ~35% (adds 4 points to growth), compared to a modest increase in inquiries Adjusted EBITDA • FICO no-margin mortgage royalty is ~110bps drag; excluding this impact, margins expected to be down modestly vs. prior year

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 20 • Guidance maintains prudently conservative approach – Assumes modest U.S. lending volume growth and a tempered recovery in International • Mortgage expected to grow +28% (adds 3 points to growth), or +6% excluding FICO mortgage royalty, compared to mid-single digit inquiry declines Full-year 2026 revenue guidance Reported Revenue: $4.946B to $4.981B +8% to 9% M&A contribution: Immaterial FX contribution: Immaterial Organic Constant Currency Revenue: +8% to +9% FICO mortgage royalty impact ~3pt. benefit Organic CC Revenue ex. FICO mortgage royalty: +5% to +6% Organic Growth Assumptions • U.S. Markets up high-single digit (up mid-single digit excluding mortgage) – Financial Services up mid-teens (up high-single digit excluding mortgage) – Emerging Verticals up mid-single digit – Consumer Interactive down low-single digit • International up mid-single digit (constant currency) Note: For additional information, refer to the “Non-GAAP Financial Information” section on slide 2 and the Appendix at the back of this investor presentation.

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 21 The adjusted tax rate guidance of ~26.0% reflects expected full year GAAP effective rate of ~29% less the elimination of discrete adjustments and other items totaling ~(3.0%). For additional information, refer to the “Non-GAAP Financial Information” section on slide 2 and the Appendix at the back of this investor presentation. Full-year 2026 Adjusted EBITDA, Adjusted Diluted EPS and other guidance Adjusted EBITDA: $1.756B to $1.777B +7% to +8% FX contribution: immaterial Adjusted EBITDA margin: 35.5% to 35.7% Adjusted EBITDA margin bps change: (50)bps to (30)bps Adjusted Diluted EPS: $4.63 to $4.71 +8% to +10% Adjusted Tax Rate: ~26% Total D&A: ~$600M D&A ex. step-up from 2012 change in control and subsequent acquisitions: ~$310M Net Interest Expense: ~$220M CapEx: ~6% of revenue • Adjusted EBITDA margins up ~70bps at high-end of guidance excluding FICO mortgage royalty – Driven by flow-through on revenue growth and remaining savings from transformation program • Expect ~90% free cash flow conversion (as a % of Adjusted Net Income)

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 22 Credit data is a foundation to safe underwriting Pricing approach preserves profitability and promotes lender choice VantageScore adoption is incremental profit and margin opportunity • Efficacy of underwriting is driven by quality and amount of underlying data • GSEs make underwriting decisions based on trended data from the bureaus, not 3rd party scores • Credit scores depend on credit bureaus’ data stewardship • TU differentiated with 30 months of trended data, plus rental and utility tradelines • Reflects that the main value in lending is in the data • VantageScore ($4) offered at 60% discount to FICO score • 2026 credit data + VantageScore cost ($15) is ~flat compared to 2025 • No impact on TU profitability from potential changes in 3rd party score delivery models • Positioned to unlock full benefit of trended and alternative data to the mortgage market • Actively working with lenders, resellers and GSEs to drive adoption of lower-cost, consumer friendly option • Next milestone expected is GSE loan level price adjustment (LLPA) matrix for VantageScore TransUnion is positioned for success in U.S. mortgage

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 23 U.S. mortgage revenues Assumptions Expect to deliver underlying mortgage growth in 2026 • Revenue growth of 6% excluding FICO royalty cost, compared to inquiries down mid-single digit – driven by pricing on core data and new business wins – Revenue up 28% inclusive of FICO price increases (no-margin) • No shift to FICO Direct program in 2026 based on customer feedback – Program adds new operational complexities for resellers; no customer shift to date – Profitability per pull is similar regardless of TransUnion or reseller calculating the FICO score • VantageScore adoption represents upside to 2026 guidance and significant long-term opportunity – Constructive early discussions with customers; 2026 as transitional year focused on testing and validating $402M ~$425M $183M ~$325M $585M ~$750M 2025 2026F FICO royalty cost Revenue less FICO royalty cost

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 24 Strong and broad-based revenue growth ~240bps of underlying Adjusted EBITDA margin expansion from 2023-2026F Strong revenue growth and margin expansion expected excluding FICO no-margin mortgage royalty 2025* 2026F (High-end) 10% 9% 9% 6% 35.1% 36.0% 36.0% 35.7% 35.8% 37.1% 37.5% 38.2% 2023 2024 2025 2026F (High-end) Reported Adj. EBITDA Margin Adj. EBITDA Margin ex FICO cost in mortgage8% 7% 2024* Organic constant currency revenue growth Growth ex FICO mortgage royalty ~70bps of underlying margin expansion *2024 and 2025 also normalized for large 1x breach win in Q3 2024 For additional information, refer to the “Non-GAAP Financial Information” section on slide 2 and the Appendix at the back of this investor presentation.

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 25 Significant earnings potential from any mortgage recovery, with additional interest rate cuts expected in 2026 Sizable mortgage profit despite depressed volumes Originations and distribution of mortgages based on TransUnion Consumer Credit Database. *FY 2025F Mortgage originations reflects trailing-twelve- month originations from Q3 2025 7.8 4.9 FY 2019 TTM Sep. 2025 Industry originations (M) $425M $325M FY 2026F Mortgage revenue ($M) Significant refinancing opportunity if rates fall 0.8 10.6 15.8 7.9 5.0 9.9 0-2% 2-3% 3-4% 4-5% 5-6% 6%+ Distribution of mortgages (in millions) in the U.S. by rate Earnings potential from a mortgage recovery • Every 10% increase in mortgage volume adds: – ~$43 million to Adjusted EBITDA – +$0.16 to Adjusted Diluted EPS • Full recovery to 2019 mortgage levels translates to: – ~$250 million to Adjusted EBITDA – +$0.95 to Adjusted Diluted EPS • Additional profit and margin upside from VantageScore adoption, new business wins and pricing FICO royalty cost Revenue less FICO royalty cost For additional information, refer to the “Non-GAAP Financial Information” section on slide 2 and the Appendix at the back of this investor presentation.

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 26 Expecting a strong 2026 with +8% to +9% revenue growth and +8% to +10% Adjusted Diluted EPS growth Delivered robust Q4 with +12% organic constant currency revenue growth and +10% Adjusted Diluted EPS growth 2026 strategic priorities emphasize driving innovation- led, scalable growth Note: For additional information, refer to the “Non-GAAP Financial Information” section on slide 2 and the Appendix at the back of this investor presentation.

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 28Confidential | Internal use only5 2026 Investor Day: Showcasing how our transformation unlocks the next phase of operating excellence and durable growth Fueling scalable growth with our global, AI-enabled product (OneTru) and operating platform1 Accelerating innovation within and across our Solutions families2 Amplifying customer outcomes with enhanced product focus complementing geographic and vertical expertise3 Delivering industry-leading results: strong revenue growth, operating leverage, and free cash flow enabling accretive capital deployment 4 Plan to provide updated financial framework at 2026 Investor Day Investor Day focus areas

Appendices and Non-GAAP Reconciliations

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 31 U.S. Markets revenue composition (FY 2025) Card & Banking 27% Consumer Lending 21% Mortgage 35% Auto 17% Insurance 29% Tech, Retail & E- Commerce 22% Tele- Communications 19% Media 15% Tenant & Employment Screening 6% Collections 5% Public Sector 4% Direct 27% Indirect 73% Financial Services (~$1.7 billion) Emerging Verticals (~$1.3 billion) Consumer Interactive (~$0.6 billion) Business Mix Details

32© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. Debt profile and 2026F interest expense bridge Debt Profile (12/31/25) 2026F Interest Expense Bridge Notional ($B) Expiry Rate Term Loan Tranche Term Loan A-4 1.2 Jun’29 SOFR + 1.25% Term Loan B-5 0.1 Nov’26 SOFR + CSA + 1.75% Term Loan B-9 1.8 Jun’31 SOFR + 1.75% Term Loan B-8 1.9 Jun’31 SOFR + 1.75% Swaps* December 2021 1.5 Dec’26 Receive SOFR, Pay 1.39% December 2024 1.1 Dec’27 Receive SOFR, Pay 3.54% June 2025 1.2 Dec’27 Receive SOFR, Pay 3.49% • ~75% of debt is currently swapped to fixed rate • 2026 net interest expense guidance assumes no additional debt prepayment or incremental debt Debt / Interest Expense $203M ~$220M ~$5M ~($17M) ~($5M) 2025 Net Interest Expense Prepayments Interest Income SOFR, Hedges, Other 2026F Net Interest Expense

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 33 Strong free cash flow and optimized leverage enables balanced capital allocation Capital Allocation Framework For additional information, refer to the “Non-GAAP Financial Information” section on slide 2 and the Appendix at the back of this investor presentation. Prioritize growth investments • Fund growth investments while expanding margins, supported by revenue growth and ongoing business optimization • Focus areas of investment: – Technology and platform enhancements – New product innovation – Incremental sales specialists – International expansion • Consider bolt-on M&A aligned to growth strategy Manage leverage and liquidity • Targeting Leverage Ratio of <2.5x • Continue to evaluate debt structure and voluntary prepayments • Maintain appropriate cash balances and explore repatriation opportunities – ~53% of current cash is overseas Increase capital returns to shareholders • Grow dividend alongside Adjusted Net Income – Raised quarterly dividend to $0.125 from $0.115, effective Q4 2025 – Maintain 10%-15% dividend payout ratio • Increase bias toward share repurchases going forward – Board expanded share repurchase authorization to $1 billion in October 2025 (inclusive of repurchases made to date) – ~$300M in repurchases in 2025

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 34 Disciplined M&A approach aligned to growth strategy Strategic Focus for M&A M&A is an important strategic tool, but strength of portfolio creates a high bar • Ongoing transformation supports a generation of innovation-led growth • Not seeking large, transformational M&A Focus for bolt-on M&A and minority investments: • Foreign credit bureaus • Data assets centered around consumer identity • Complementary capabilities for core solutions Capital Allocation Framework For additional information, refer to the “Non-GAAP Financial Information” section on slide 2 and the Appendix at the back of this investor presentation. Financial Considerations M&A evaluated against all alternatives to maximize long- term free cash flow per share Key financial guideposts:  Attractive cash-on-cash return and unlevered IRR exceeding cost of capital  Additive to revenue growth rate  Strong profitability with path to scale to company-level margins  Accretive to Adjusted Diluted EPS by Year 2  Ability to return to target leverage within one year

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 39 Non-GAAP Adjustment Footnotes As a result of displaying amounts in millions, rounding differences may exist in the tables and footnotes. 1. Mergers and acquisitions, divestitures and business optimization consisted of the following adjustments: 2. Represents expenses associated with our accelerated technology investment to migrate to the cloud. There are three components of the accelerated technology investment: (i) building foundational capabilities which includes establishing a modern, API-based and services-oriented software architecture, (ii) the migration of each application and customer data to the new enterprise platform, including the redundant software costs during the migration period, as well as the efforts to decommission the legacy system, and (iii) program enablement, which includes dedicated resources to support the planning and execution of the program. The amounts for each category of cost are as follows:

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 40 Non-GAAP Adjustment Footnotes 3. Operating model optimization consisted of the following adjustments: 4. Net other consisted of the following adjustments: 5. Consolidated Adjusted EBITDA margin is calculated by dividing Consolidated Adjusted EBITDA by total revenue. 6. Total adjustments for income taxes represents the total of adjustments discussed to calculate the Adjusted Provision for Income Taxes. 7. Other adjustments for income taxes include: 8. For years in which we made significant acquisitions, we have included a twelve-month period of adjusted EBITDA including Adjusted EBITDA for the period prior to our acquisition. The year ended December 31, 2025 includes the three months of Adjusted EBITDA related to Monevo prior to our acquisition in April 2025.

© 2026 TransUnion, its subsidiaries and/or affiliates. All Rights Reserved. 41 Adjusted EBITDA and Adjusted EPS Guidance As a result of displaying amounts in millions, rounding differences may exist in the table. 1. These adjustments include the same adjustments we make to our Adjusted EBITDA and Adjusted Net Income as discussed in the Non-GAAP Financial Measures section of our Earnings Release. 2. Consolidated Adjusted EBITDA margin is calculated by dividing Consolidated Adjusted EBITDA by total revenue.

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