PJT Partners : Investor Presentation

Notices and Disclaimers

Forward-Looking Statements

This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include certain information concerning future results of operations, business strategies, acquisitions, financing plans, competitive position, potential growth opportunities, potential operating performance improvements, the effects of competition and the effects of future legislation or regulations. Forward- looking statements include all statements that are not historical facts and can be identified by the use of

forward-looking terminology such as the words "believe," "expect," "opportunity," "plan," "intend," "anticipate," "estimate," "predict," "potential," "continue," "may," "might," "should," "could" or the negative of these terms or similar expressions.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations, and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions.

Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and

changes in circumstances that are difficult to predict, many of which are outside the Company's control. The

Company's actual results and financial condition may differ materially from those indicated in the forward- looking statements. Therefore, you should not place undue reliance upon any of these forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (a) changes in governmental regulations and policies; (b) cyberattacks, security vulnerabilities, and internet disruptions, including breaches of data security and privacy leaks, data loss, and business interruptions; (c) failures of the Company's computer systems or communication systems, including as a result of a catastrophic event and the use of remote work environments and virtual platforms; (d) the impact of catastrophic events, including business disruptions, pandemics, reductions in employment and an increase in business failures on (1) the U.S. and the global economy, and (2) our employees and our ability to provide services to our clients and respond to their needs; (e) the failure of third-party service providers to perform their functions; and (f) volatility in the political and economic environment, including as a result of inflation, rising interest rates, international conflict, and recent events affecting the financial services industry.

Any of these factors, as well as such other factors discussed in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2022 filed with the United States Securities and Exchange Commission ("SEC"), as such factors may be updated from time to time in the Company's periodic filings with the SEC, accessible on the SEC's website at www.sec.gov, could cause the Company's results to differ materially from those expressed in forward-looking statements. There may be other risks and uncertainties that the Company is unable to predict at this time or that are not currently expected to have a material adverse effect on its business. Any such risks could cause the Company's results to differ materially from those expressed in forward-looking statements.

Non-GAAP Financial Measures

This presentation contains certain non-GAAP financial measures. A "non-GAAP financial measure" is defined as a numerical measure of a company's financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States of America ("GAAP") in the statements of operations, financial condition or cash flows of the company.

These measures should not be considered substitutes for, or superior to, financial measures prepared in accordance with GAAP. Management believes the following non-GAAP measures, when presented together with comparable GAAP measures, are useful to investors in understanding the Company's operating results: Adjusted Pretax Income; Adjusted Net Income; Adjusted Net Income, If-Converted, in total and on a per-share basis (referred to as "Adjusted EPS"); Adjusted Compensation and Benefits Expense and Adjusted Non- Compensation Expense. These non-GAAP measures, presented and discussed in this presentation, remove the significant accounting impact of: (a) transaction-related compensation expense, including expense related to Partnership Units with both time-based vesting and market conditions as well as equity-based and cash awards granted in connection with the spin-off from Blackstone Inc. ("Blackstone") and acquisition of CamberView Partners Holdings, LLC ("CamberView"); (b) intangible asset amortization associated with Blackstone's initial

public offering ("IPO"), the acquisition of PJT Capital LP, and the acquisition of CamberView; (c) impairment of

CamberView's former leased space; and (d) the net change to the amount PJT Partners has agreed to pay Blackstone related to the net realized cash benefit from certain compensation-related tax deductions. Reconciliations of the non-GAAP measures to their most directly comparable GAAP measures and further detail regarding the adjustments are provided on pages 28 and 29 of this presentation. For additional information about our non-GAAP financial measures, see our filings with the SEC.

Disclaimers

This document is "as is" and is based, in part, on information obtained from other sources. Our use of such information does not imply that we have independently verified or necessarily agree with any of such information, and we have assumed and relied upon the accuracy and completeness of such information for purposes of this document. Neither we nor any of our affiliates or agents, make any representation or warranty, express or implied, in relation to the accuracy or completeness of the information contained in this document or any oral information provided in connection herewith, or any data it generates and expressly disclaim any and all liability (whether direct or indirect, in contract, tort or otherwise) in relation to any of such information or any errors or omissions therein. Any views or terms contained herein are preliminary, and are based on financial, economic, market and other conditions prevailing as of the date of this document and are subject to change. We undertake no obligations or responsibility to update any of the information contained in this document. Past performance does not guarantee or predict future performance.

This document does not constitute an offer to sell or the solicitation of an offer to buy any security, nor does it constitute an offer or commitment to lend, syndicate or arrange a financing, underwrite or purchase or act as an agent or advisor or in any other capacity with respect to any transaction, or commit capital, or to participate in any trading strategies, and does not constitute legal, regulatory, accounting or tax advice to the recipient. This document does not constitute and should not be considered as any form of financial opinion or recommendation by us or any of our affiliates. This document is not a research report nor should it be construed as such.

Presentation of Information

All facts, metrics and other information provided herein are presented as of June 30, 2023 unless otherwise stated. Copyright © 2023, PJT Partners Inc. (and its affiliates, as applicable).

PJT Partners is a Premier, Global Advisory-Focused Investment Bank

(1) As of 6/30/23

Strategic Advisory

• M&A Advisory
• Capital Markets Advisory
• Shareholder Advisory

Restructuring & Special Situations

• Creditor
• In-Court
• Out-of-court

PJT Park Hill

• Private Equity
• Real Estate
• Alternative Credit/Hedge Funds
• Private Capital Solutions

2015

NYSE: PJT Listing

400+

Clients

110

Partners Globally

$3bn+

Market Capitalization1

60+

Countries

25+ Years

Avg. Partner Experience

$1bn+

LTM Revenues

11

Offices Globally

920+

Employees

Why PJT Why Now

A Firm That's Resilient

• Balanced business model allows for growth in most market environments
• Breadth of capabilities

Secular Tailwinds

• Business disruption and dislocations increase need for strategic advice
• Receptivity to pure play, advisory-focused firms

Proven Track Record

• Success in attracting best-in-class talent
• Significant revenue and earnings growth since spin

Strong Future Growth Prospects

• Significant market share growth opportunities
• Further integration across businesses to drive growth

Disciplined Management

• Prudent expense management
• Consistent approach to capital priorities

Aligned with Shareholders

• Unwavering focus on the long term
• ~40% employee ownership

Financial

Overview

Note: % growth figures are YoY.

1. Figures are shown 'as adjusted'; see reconciliations on page 29.

Revenue

Pretax Income

GAAP

Adjusted¹

EPS

GAAP Diluted

Adjusted¹