INVESTOR DAY 2026 APPENDIX Reconciliation of non-GAAP financial measures to U.S. GAAP measures 108 Cash G&A and Cash G&A Margin: NON-GAAP MEASURES (amounts in thousands) General and administrative expense $ 49,183 $ 40,934 $ 39,761 $ 34,612 $ 29,306 $ 30,331 Non-cash employee stock compensation (11,805) (11,892) (9,696) (8,411) (6,056) (8,368) Cash G&A $ 37,378 $ 29,042 $ 30,065 $ 26,201 $ 23,250 $ 21,963 Revenue 1,030,471 719,395 605,717 603,206 653,568 561,643 Cash G&A Margin 4% 4% 5% 4% 4% 4% 2025 2024 Tw elve Months Ended Decem ber 31, 2020 2023 2022 2021