SEC Filing - Brink's Company

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bco-20220223

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

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

Date of Report (Date of Earliest Event Reported): February 23, 2022


			THE BRINK’S COMPANY

(Exact name of registrant as specified in its charter)


Virginia	001-09148	54-1317776
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1801 Bayberry Court

P. O. Box 18100

Richmond, VA 23226-8100
(Address and zip code of

principal executive offices)

Registrant’s telephone number, including area code: (804) 289-9600

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, par value $1.00 per share	BCO	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 Securities Act. ☐


Item 2.02			Results of Operations and Financial Condition.

On February 23, 2022, The Brink's Company (the “Company") issued a press release reporting its results for the fourth quarter and full year ended December 31, 2021. A copy of this release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

In accordance with General Instruction B.2 of Form 8-K, the information in this Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act") or the Exchange Act, except as shall be expressly set forth by specific references in such a filing.


Item 7.01			Regulation FD Disclosure.

On February 23, 2022, the Company provided slides to accompany its earnings presentation. A copy of the slides is furnished as Exhibit 99.2 to this Current Report on Form 8-K.

In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.2, shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific references in such a filing.


Item 9.01		Financial Statements and Exhibits.

(d)	Exhibits

	99.1	Press Release, dated February 23, 2022, issued by The Brink's Company

	99.2	Slide presentation of The Brink's Company

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

SIGNATURE

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


	THE BRINK’S COMPANY (Registrant)


Date: February 23, 2022	By:	/s/ Ronald J. Domanico
		Ronald J. Domanico
		Executive Vice President and Chief Financial Officer

Document


						Exhibit 99.1


Contact: Investor Relations
804.289.9709			FOR IMMEDIATE RELEASE

Brink’s Reports Record Revenue and Operating Profit for Fourth-Quarter and Full-Year

Continued Strong Growth Expected in 2022 as Revenue Returns to Pre-pandemic Levels

4Q Highlights:

•Revenue up 7%, reflecting continued organic growth; constant currency up 11%

•Operating profit: GAAP up 30% to $146M, non-GAAP up 6% to $154M; constant currency up 15%

•Operating margin: GAAP 13.2%, non-GAAP 14.0%

•GAAP net income up 97% to $50M, Adjusted EBITDA up 8% to $210M; constant currency up 15%

•EPS: GAAP up 94% to $.97 vs $.50; non-GAAP up 2% to $1.68 vs $1.64; constant currency up 13%

•EPS excluding prior year gain of $.13 per share related to an equity investment in MGI shares: GAAP up 162%, non-GAAP up 11%

RICHMOND, Va., February 23, 2022 – The Brink’s Company (NYSE:BCO), the global leader in total cash management, route-based secure logistics and payment solutions, today announced fourth-quarter and full-year results.

Doug Pertz, president and chief executive officer, said: “Today we reported record revenue and operating profit for both the fourth-quarter and full-year of 2021. These results clearly demonstrate the resiliency of our business and the persistent strength of cash usage around the world. We exited 2021 with substantially higher revenue and greater profitability than 2019, better positioned for the future. Additionally, 2022 revenue is expected to return to at least pro-forma pre-pandemic levels. Our confidence is based on expectations of continued recovery in retail markets, higher than historical price increases, accelerating contributions from our Strategy 2.0 digital solutions, and the continued execution of our productivity and efficiency initiatives.

“The 2022 guidance we are providing today reflects the strong growth rates and margin improvement targets we presented at our 2021 Investor Day. This guidance includes revenue growth of 8% to 11% and operating profit growth of 16% to 23%, with margin improvement of approximately 100 basis points.

“Our 2022 guidance represents significant value creation since the pre-pandemic period, and strong progress toward achieving our 3-year strategic plan targets. Our expected 2022 results include core business revenue at 2019 levels or higher, plus approximately $900 million of revenue from completed acquisitions, and cumulative margin improvement of approximately 150 basis points from pre-pandemic levels.”

Management’s 2022 guidance is consistent with the financial targets provided at its 2021 Investor Day, updated to reflect foreign exchange rates as of December 31, 2021. See page 3 for details.

Fourth-quarter and full-year results are summarized in the following tables.


(In millions, except for per share amounts)	Fourth-Quarter 2021 (vs. 2020)
	GAAP			Change	Non-GAAP			Change	Constant Currency Change(b)
Revenue	$	1,098		7%	$	1,098		7%	11%
Operating Profit	$	146		30%	$	154		6%	15%
Operating Margin	13.2		%	220 bps	14.0		%	(20 bps)	60 bps
Net Income / Adjusted EBITDA(a)	$	50		97%	$	210		8%	15%
EPS	$	0.97		94%	$	1.68		2%	13%


(In millions, except for per share amounts)	Full Year 2021 (vs. 2020)
	GAAP			Change	Non-GAAP			Change	Constant Currency Change(b)
Revenue	$	4,200		14%	$	4,200		14%	14%
Operating Profit	$	355		66%	$	471		23%	26%
Operating Margin	8.4		%	260 bps	11.2		%	90 bps	110 bps
Net Income / Adjusted EBITDA(a)	$	105		fav	$	683		21%	22%
EPS	$	2.06		fav	$	4.75		26%	29%

(a)The non-GAAP financial metric, adjusted EBITDA, is presented with its corresponding GAAP metric, net income attributable to Brink's.

(b)Constant currency represents 2021 non-GAAP results at 2020 exchange rates.

Conference Call

Brink’s will host a conference call on February 23 at 8:30 a.m. ET to review fourth-quarter and full year results. Interested parties can listen by calling 888-349-0094 (in the U.S.) or 412-902-0124 (international). Participants can pre-register at https://dpregister.com/sreg/10163626/f1413d8b2c to receive a direct dial-in number for the call. The call also will be accessible live via webcast on the Brink’s website (www.brinks.com). A replay of the call will be available through March 23, 2022 at 877-344-7529 (in the U.S.) or 412-317-0088 (international). The conference replay access code is 8245109. An archived version of the webcast will be available online in the Investor Relations section of http://investors.brinks.com.

2022 Guidance (Unaudited)

(In millions, except for percentages and per share amounts)

2022 GAAP
Outlook(b)

Reconciling Items(a)

2022 Non-GAAP
Outlook(a)

Constant Currency Impact(c)

Constant Currency 2022 Non-GAAP Outlook(c)

Revenues

4,520 – 4,670

—

4,520 – 4,670

130

4,650 – 4,800

Operating profit

473 – 508

545 – 580

580 – 615

EPS from continuing operations attributable to Brink's(d)

3.95 – 4.35

~1.60

5.50 – 6.00

0.50

6.00 – 6.50

Operating profit margin

10.5 – 10.9%

~1.6%

12.1 – 12.4%

0.4

12.5 – 12.8%

Free cash flow before dividends(e)

300 – 335

335 – 370

Adjusted EBITDA

755 – 790

790 – 825

Adjusted EBITDA margin

16.7 – 16.9%

0.3

17.0 – 17.2%

Amounts may not add due to rounding

(a)The 2022 Non-GAAP outlook amounts exclude certain forecasted Non-GAAP adjusting items, such as intangible asset amortization and U.S. retirement plan costs. We have not forecasted the impact of highly inflationary accounting on our Argentina operations in 2022 or other potential Non-GAAP adjusting items for which the timing and amounts are currently under review, such as future restructuring actions. We have also not forecasted changes in cash held for customer obligations or proceeds from the sale of property, equipment and investments in 2022. The 2022 Non-GAAP outlook amounts for operating profit, EPS from continuing operations, free cash flow before dividends and Adjusted EBITDA cannot be reconciled to GAAP without unreasonable effort. We cannot reconcile these amounts to GAAP because we are unable to accurately forecast the impact of highly inflationary accounting on our Argentina operations in 2022 or other potential Non-GAAP adjusting items for which the timing and amounts are currently under review, such as future restructuring actions. We are also unable to forecast changes in cash held for customer obligations or proceeds from the sale of property, equipment and investments in 2022.

(b)The 2022 GAAP outlook excludes any forecasted impact from highly inflationary accounting on our Argentina operations as well as other potential Non-GAAP adjusting items for which the timing and amounts are currently under review, such as future restructuring actions.

(c)Non-GAAP constant currency amounts represent the Outlook at prior period exchange rates.

(d)On January 4, 2022, the U.S. Treasury published in the Federal Register final foreign tax credit regulations. The impact of new foreign tax credit regulations on 2022 income tax expense is currently under review and is not included in the 2022 guidance.

(e)Excludes our initial investment in France to support the take-over of the BPCE ATM network.

The Brink’s Company and subsidiaries

(In millions, except percentages and per share amounts) (Unaudited)

Fourth-Quarter 2021 vs. 2020



GAAP			Organic	Acquisitions /			% Change
	4Q'20		Change	Dispositions(a)	Currency(b)	4Q'21	Total	Organic
Revenues:
North America	$	329	17	25	1	373	13	5
Latin America	286		29	1	(22)	294	3	10
Europe	236		6	3	(10)	234	(1)	3
Rest of World	171		15	12	—	197	16	9
Segment revenues(g)	$	1,022	67	40	(31)	1,098	7	7


Revenues - GAAP	$	1,022	67	40	(31)	1,098	7	7

Operating profit:
North America	$	46	1	3	—	50	9	2
Latin America	80		5	—	(8)	77	(4)	6
Europe	29		5	—	(2)	32	11	15
Rest of World	36		(1)	2	—	37	2	(3)
Segment operating profit	192		9	6	(10)	197	3	5
Corporate(c)	(46)		7	—	(4)	(43)	(8)	(16)
Operating profit - non-GAAP	$	145	16	6	(13)	154	6	11

Other items not allocated to segments(d)	(33)		24	—	—	(8)	(75)	(73)
Operating profit (loss) - GAAP	$	112	41	6	(13)	146	30	36

GAAP interest expense	(26)					(29)	11
GAAP interest and other income (expense)	(6)					(5)	(14)
GAAP provision for income taxes	53					61	15
GAAP noncontrolling interests	1					2	100
GAAP income from continuing operations(f)	25					47	89
GAAP EPS(f)	$	0.50				0.97	94
GAAP weighted-average diluted shares	50.3					49.1	(2)



Non-GAAP(e)			Organic	Acquisitions /			% Change
	4Q'20		Change	Dispositions(a)	Currency(b)	4Q'21	Total	Organic

Segment revenues - GAAP/non-GAAP	$	1,022	67	40	(31)	1,098	7	7

Non-GAAP operating profit	145		16	6	(13)	154	6	11

Non-GAAP interest expense	(26)					(29)	12
Non-GAAP interest and other income (expense)	6					4	(20)
Non-GAAP provision for income taxes	40					43	9
Non-GAAP noncontrolling interests	2					3	38
Non-GAAP income from continuing operations(f)	83					83	—
Non-GAAP EPS(f)	$	1.64				1.68	2
Non-GAAP weighted-average diluted shares	50.3					49.1	(2)

Amounts may not add due to rounding.

(a)Non-GAAP amounts include the impact of prior year comparable period results for acquired and disposed businesses. GAAP results also include the impact of acquisition-related intangible amortization, restructuring and other charges, and disposition related gains/losses.

(b)The amounts in the “Currency” column consist of the effects of Argentina devaluations under highly inflationary accounting and the sum of monthly currency changes. Monthly currency changes represent the accumulation throughout the year of the impact on current period results from changes in foreign currency rates from the prior year period.

(c)Corporate expenses are not allocated to segment results. Corporate expenses include salaries and other costs to manage the global business and to perform activities required of public companies.

(d)See pages 8-9 for more information.

(e)Non-GAAP results are reconciled to applicable GAAP results on pages 10-13.

(f)Attributable to Brink's.

(g)Segment revenues equal our total reported non-GAAP revenues.

(h)In the first quarter of 2021, we changed the method for calculating the allowance for doubtful accounts of the North America segment’s U.S. business. This change in method resulted in a $12.3 million operating profit increase in the segment, which was offset by a $12.3 million increase to Corporate expense, resulting in no impact to consolidated operating profit for the quarter. Historically, all Brink’s business units followed an internal Company policy for determining an allowance for doubtful accounts and the allowances were then reconciled to the required U.S. GAAP estimated consolidated allowance, with any differences reported as part of Corporate expense. Other than for the U.S. business, the reconciling differences were not significant. We changed the U.S. calculation of the allowance in order to more closely align it with the U.S. GAAP consolidated calculation and to minimize reconciling differences, resulting in the offsetting $12.3 million adjustments to align the methods.

The Brink’s Company and subsidiaries

(In millions, except percentages and per share amounts) (Unaudited)

Full-Year 2021 vs. 2020



GAAP			Organic	Acquisitions /			% Change
	2020		Change	Dispositions(a)	Currency(b)	2021	Total	Organic
Revenues:
North America	$	1,261	64	72	9	1,407	12	5
Latin America	1,072		102	8	(57)	1,126	5	10
Europe	754		15	121	27	917	22	2
Rest of World	604		9	114	24	750	24	1
Segment revenues(g)	$	3,691	191	315	3	4,200	14	5


Revenues - GAAP	$	3,691	191	315	3	4,200	14	5

Operating profit:
North America(h)	$	92	45	12	—	148	62	49
Latin America	234		46	1	(23)	257	10	20
Europe	51		28	10	1	90	75	55
Rest of World	117		3	8	4	132	12	2
Segment operating profit	494		121	30	(17)	627	27	25
Corporate(c)(h)	(112)		(53)	—	9	(157)	39	47
Operating profit - non-GAAP	$	381	68	30	(9)	471	23	18

Other items not allocated to segments(d)	(168)		42	11	(1)	(116)	(31)	(25)
Operating profit - GAAP	$	214	110	40	(9)	355	66	52

GAAP interest expense	(97)					(112)	16

GAAP interest and other income (expense)	(38)					(7)	(81)

GAAP provision for income taxes	57					120	unfav

GAAP noncontrolling interests	6					12	unfav

GAAP income from continuing operations(f)	17					103	fav

GAAP EPS(f)	$	0.33				2.06	fav

GAAP weighted-average diluted shares	50.8					50.1	(1)



Non-GAAP(e)			Organic	Acquisitions /			% Change
	2020		Change	Dispositions(a)	Currency(b)	2021	Total	Organic

Segment revenues - GAAP/non-GAAP	$	3,691	191	315	3	4,200	14	5

Non-GAAP operating profit	381		68	30	(9)	471	23	18

Non-GAAP interest expense	(95)					(111)	17

Non-GAAP interest and other income (expense)	3					19	fav

Non-GAAP provision for income taxes	92					127	38

Non-GAAP noncontrolling interests	7					14	unfav

Non-GAAP income from continuing operations(f)	191					238	25

Non-GAAP EPS(f)	$	3.76				4.75	26

Non-GAAP weighted-average diluted shares	50.8					50.1	(1)

Amounts may not add due to rounding.

See page 4 for footnote explanations.

The Brink’s Company and subsidiaries

(In millions) (Unaudited)

Selected Items - Condensed Consolidated Balance Sheets


	December 31, 2020		December 31, 2021
Assets
Cash and cash equivalents	$	620.9	710.3
Restricted cash	322.0		376.4
Accounts receivable, net	679.1		701.8
Right-of-use assets, net	322.0		299.1
Property and equipment, net	838.2		865.6
Goodwill and intangibles	1,645.3		1,902.9
Deferred income taxes	314.9		239.4
Other	393.2		471.2

Total assets	$	5,135.6	5,566.7

Liabilities and Equity

Accounts payable	206.0		211.2
Debt	2,485.7		2,966.7
Retirement benefits	701.8		541.5
Accrued liabilities	779.2		877.3
Lease liabilities	267.2		241.8
Other	493.2		475.6
Total liabilities	4,933.1		5,314.1

Equity	202.5		252.6

Total liabilities and equity	$	5,135.6	5,566.7

Selected Items - Condensed Consolidated Statements of Cash Flows


	Twelve Months Ended December 31,
	2020		2021
Net cash provided by operating activities	$	317.7	478.0
Net cash used by investing activities	(565.4)		(454.7)
Net cash provided by financing activities	683.7		171.3

Effect of exchange rate changes on cash	37.9		(50.8)
Cash, cash equivalents and restricted cash:
Increase	473.9		143.8
Balance at beginning of period	469.0		942.9
Balance at end of period	$	942.9	1,086.7

Supplemental Cash Flow Information

Capital expenditures	$	(118.5)	(167.9)
Acquisitions	(439.7)		(313.2)
Depreciation and amortization	206.8		239.5
Cash paid for income taxes, net	(76.8)		(83.8)

About The Brink’s Company

The Brink’s Company (NYSE:BCO) is the global leader in total cash management, route-based secure logistics and payment solutions including cash-in-transit, ATM services, cash management services (including vault outsourcing, money processing and intelligent safe services), and international transportation of valuables. Our customers include financial institutions, retailers, government agencies, mints, jewelers and other commercial operations. Our global network of operations in 53 countries serves customers in more than 100 countries. For more information, please visit our website at www.brinks.com or call 804-289-9709.

Forward-Looking Statements

This release contains forward-looking information. Words such as "anticipate," "assume," "estimate," "expect," “target” "project," "predict," "intend," "plan," "believe," "potential," "may," "should" and similar expressions may identify forward-looking information. Forward-looking information in these materials includes, but is not limited to: 2022 outlook, including revenue, operating profit, adjusted EBITDA, earnings per share, free cash flow (and drivers thereof), expected economic recovery, price increases, and our three-year strategic plan. Forward-looking information in this document is subject to known and unknown risks, uncertainties and contingencies, which are difficult to predict or quantify, and which could cause actual results, performance or achievements to differ materially from those that are anticipated.

Forward-looking information in this document is subject to known and unknown risks, uncertainties and contingencies, which are difficult to predict or quantify, and which could cause actual results, performance or achievements to differ materially from those that are anticipated. These risks, uncertainties and contingencies, many of which are beyond our control, include, but are not limited to: our ability to improve profitability and execute further cost and operational improvement and efficiencies in our core businesses; our ability to improve service levels and quality in our core businesses; market volatility and commodity price fluctuations; seasonality, pricing and other competitive industry factors; investment in information technology (“IT”) and its impact on revenue and profit growth; our ability to maintain an effective IT infrastructure and safeguard confidential information; our ability to effectively develop and implement solutions for our customers; risks associated with operating in foreign countries, including changing political, labor and economic conditions, regulatory issues (including the imposition of international sanctions, including by the U.S. government), currency restrictions and devaluations, restrictions on and cost of repatriating earnings and capital, impact on the Company’s financial results as a result of jurisdictions determined to be highly inflationary, and restrictive government actions, including nationalization; labor issues, including negotiations with organized labor and work stoppages; pandemics (including the ongoing COVID-19 pandemic and related impact to and restrictions on the actions of businesses and consumers, including suppliers and customers), acts of terrorism, strikes or other extraordinary events that negatively affect global or regional cash commerce; anticipated cash needs in light of our current liquidity position and the impact of COVID-19 on our liquidity; the strength of the U.S. dollar relative to foreign currencies and foreign currency exchange rates; our ability to identify, evaluate and complete acquisitions and other strategic transactions and to successfully integrate acquired companies; costs related to dispositions and product or market exits; our ability to obtain appropriate insurance coverage, positions taken by insurers relative to claims and the financial condition of insurers; safety and security performance and loss experience; employee and environmental liabilities in connection with former coal operations, including black lung claims; the impact of the American Rescue Plan Act, Patient Protection and Affordable Care Act on legacy liabilities and ongoing operations; funding requirements, accounting treatment, and investment performance of our pension plans, the VEBA and other employee benefits; changes to estimated liabilities and assets in actuarial assumptions; the nature of hedging relationships and counterparty risk; access to the capital and credit markets; our ability to realize deferred tax assets; the outcome of pending and future claims, litigation, and administrative proceedings; public perception of our business, reputation and brand; changes in estimates and assumptions underlying critical accounting policies; the promulgation and adoption of new accounting standards, new government regulations and interpretation of existing standards and regulations.

This list of risks, uncertainties and contingencies is not intended to be exhaustive. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found under "Risk Factors" in Item 1A of our Annual Report on Form 10-K for the period ended December 31, 2020 and in our Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2021, June 30, 2021, and September 30, 2021, and in our other public filings with the Securities and Exchange Commission. The forward-looking information included in this document is representative only as of the date of this document and The Brink's Company undertakes no obligation to update any information contained in this document.

The Brink’s Company and subsidiaries

Segment Results: 2020 and 2021 (Unaudited)

(In millions, except for percentages)


	Revenues
	2020							2021
	1Q			2Q	3Q	4Q	Full Year	1Q			2Q	3Q	4Q	Full Year
Revenues:
North America	$	340.9		274.3	316.8	329.4	1,261.4	$	317.1		356.8	360.7	372.5	1,407.1
Latin America	299.0			230.4	256.7	285.8	1,071.9	269.7			272.8	289.3	294.2	1,126.0
Europe	126.3			167.9	224.0	235.6	753.8	214.4			230.8	238.0	234.1	917.3
Rest of World	106.6			153.4	173.0	170.8	603.8	176.5			188.4	187.5	197.4	749.8
Segment revenues - GAAP and Non-GAAP	$	872.8		826.0	970.5	1,021.6	3,690.9	$	977.7		1,048.8	1,075.5	1,098.2	4,200.2






	Operating Profit
	2020							2021
	1Q			2Q	3Q	4Q	Full Year	1Q			2Q	3Q	4Q	Full Year
Operating profit:
North America(a)	$	13.4		8.4	24.1	45.8	91.7	$	32.3		41.1	25.0	50.0	148.4
Latin America	60.5			41.8	51.1	80.2	233.6	58.7			57.1	64.6	76.9	257.3
Europe	2.1			1.2	18.8	29.1	51.2	10.6			18.7	28.1	32.4	89.8
Rest of World	13.6			31.0	36.1	36.4	117.1	30.4			31.9	31.9	37.3	131.5
Corporate	(26.5)			(9.2)	(30.2)	(46.4)	(112.3)	(41.9)			(38.2)	(33.7)	(42.7)	(156.5)
Non-GAAP	63.1			73.2	99.9	145.1	381.3	90.1			110.6	115.9	153.9	470.5

Other items not allocated to segments(b)
Reorganization and Restructuring	(5.6)			(39.0)	(5.1)	(16.9)	(66.6)	(6.6)			(15.1)	(14.0)	(7.9)	(43.6)
Acquisitions and dispositions	(19.1)			(30.9)	(16.2)	(16.9)	(83.1)	(18.7)			(20.5)	(16.6)	(16.1)	(71.9)
Argentina highly inflationary impact	(2.4)			(2.8)	(3.2)	(2.3)	(10.7)	(3.9)			(2.6)	(2.3)	(3.1)	(11.9)
Chile antitrust matter	—			—	—	—	—	—			—	(9.5)	—	(9.5)
Internal loss	(9.6)			(1.2)	0.9	3.0	(6.9)	0.8			0.9	0.7	18.7	21.1
Reporting compliance	(0.2)			(0.3)	0.1	(0.1)	(0.5)	—			—	—	—	—
GAAP	$	26.2		(1.0)	76.4	111.9	213.5	$	61.7		73.3	74.2	145.5	354.7

	Margin
	2020							2021
	1Q			2Q	3Q	4Q	Full Year	1Q			2Q	3Q	4Q	Full Year
Margin:
North America	3.9		%	3.1	7.6	13.9	7.3	10.2		%	11.5	6.9	13.4	10.5
Latin America	20.2			18.1	19.9	28.1	21.8	21.8			20.9	22.3	26.1	22.9
Europe	1.7			0.7	8.4	12.4	6.8	4.9			8.1	11.8	13.8	9.8
Rest of World	12.8			20.2	20.9	21.3	19.4	17.2			16.9	17.0	18.9	17.5
Non-GAAP	7.2			8.9	10.3	14.2	10.3	9.2			10.5	10.8	14.0	11.2

Other items not allocated to segments(b)	(4.2)			(9.0)	(2.4)	(3.2)	(4.5)	(2.9)			(3.5)	(3.9)	(0.8)	(2.8)
GAAP	3.0		%	(0.1)	7.9	11.0	5.8	6.3		%	7.0	6.9	13.2	8.4

(a)In the first quarter of 2021, we changed the method for calculating the allowance for doubtful accounts of the North America segment’s U.S. business. This change in method resulted in a $12.3 million operating profit increase in the segment, which was offset by a $12.3 million increase to Corporate expense, resulting in no impact to consolidated operating profit for the quarter. Historically, all Brink’s business units followed an internal Company policy for determining an allowance for doubtful accounts and the allowances were then reconciled to the required U.S. GAAP estimated consolidated allowance, with any differences reported as part of Corporate expense. Other than for the U.S. business, the reconciling differences were not significant. We changed the U.S. calculation of the allowance in order to more closely align it with the U.S. GAAP consolidated calculation and to minimize reconciling differences, resulting in the offsetting $12.3 million adjustments to align the methods.

(b)See explanation of items on page 9.

The Brink’s Company and subsidiaries

Other Items Not Allocated To Segments (Unaudited)

(In millions)

Brink’s measures its segment results before income and expenses for corporate activities and for certain other items. See below for a summary of the other items not allocated to segments.

Reorganization and Restructuring Management periodically implements restructuring actions in targeted sections of our business. As a result of these actions, we recognized $43.6 million net costs in 2021, primarily severance costs. Approximately $6 million of the net costs recognized in 2021 relate to restructuring plans approved by management in 2020. The remaining costs incurred in 2021 relate to restructuring plans approved by management in 2021. Substantially all of the costs from 2021 restructuring plans result from management initiatives to address the COVID-19 pandemic. We recognized $66.6 million net costs in operating profit and $0.6 million costs in interest and other nonoperating income (expense) in 2020, primarily severance costs. For the restructuring actions that have not yet been completed, we expect to incur additional costs between $1 million and $3 million in future periods.

Due to the unique circumstances around these charges, these management-directed items have not been allocated to segment results and are excluded from non-GAAP results.

Acquisitions and dispositions Certain acquisition and disposition items that are not considered part of the ongoing activities of the

business and are special in nature are consistently excluded from non-GAAP results. These items are described below:

2021 Acquisitions and Dispositions

•Amortization expense for acquisition-related intangible assets was $47.7 million in 2021.

•We incurred $10.5 million in integration costs, primarily related to G4S, in 2021.

•Transaction costs related to business acquisitions were $6.5 million in 2021.

•Restructuring costs related to acquisitions were $5.3 million in 2021.

•Compensation expense related to the retention of key PAI employees was $1.8 million in 2021.

2020 Acquisitions and Dispositions

•Amortization expense for acquisition-related intangible assets was $35.1 million in 2020.

•We incurred $23.5 million in integration costs, primarily related to Dunbar and G4S, in 2020.

•Transaction costs related to business acquisitions were $19.3 million in 2020.

•Restructuring costs related to acquisitions were $4.7 million in 2020.

Argentina highly inflationary impact Beginning in the third quarter of 2018, we designated Argentina's economy as highly inflationary for accounting purposes. As a result, Argentine peso-denominated monetary assets and liabilities are now remeasured at each balance sheet date to the currency exchange rate then in effect, with currency remeasurement gains and losses recognized in earnings. In addition, nonmonetary assets retain a higher historical basis when the currency is devalued. The higher historical basis results in incremental expense being recognized when the nonmonetary assets are consumed. In 2021, we recognized $11.9 million in pretax charges related to highly inflationary accounting, including currency remeasurement losses of $9.0 million. In 2020, we recognized $10.7 million in pretax charges related to highly inflationary accounting, including currency remeasurement losses of $7.7 million. These amounts are excluded from non-GAAP results.

Chile antitrust matter In October 2021, the Chilean antitrust agency filed a complaint alleging that Brink’s Chile (as well as competitor companies) engaged in collusion in 2017 and 2018 and requested that the court approve a fine of $30.5 million. The Company has not had access to the investigative file nor to its evidence supporting the allegations. Based on available information to date, we recorded a charge of $9.5 million in the third quarter of 2021 in connection with this matter. Due to its special nature, this charge has not been allocated to segment results and is excluded from non-GAAP results.

Internal loss A former non-management employee in our U.S. global services operations embezzled funds from Brink's in prior years. Except for a small deductible amount, the amount of the internal loss related to the embezzlement of funds was covered by our insurance. In an effort to cover up the embezzlement, the former employee intentionally misstated the underlying accounts receivable subledger data. The rebuild of the subledger was substantially completed during the third quarter of 2019. Based on the reconstructed subledger, we were able to analyze and quantify the uncollected receivables from prior periods. Although we planned to attempt to collect these receivables, we estimated an increase to bad debt expense of $13.7 million in the third quarter of 2019. The estimate of the allowance for doubtful accounts was adjusted in the fourth quarter of 2019 for an additional $6.4 million and again in 2020 for an additional $6.6 million. In 2021, we recognized a decrease in bad debt expense of $3.7 million, primarily related to collection of these receivables. We also recognized $1.3 million of legal charges in 2021 as we attempted to collect additional insurance recoveries related to these receivables losses. In the fourth quarter of 2021, we successfully collected $18.8 million of insurance recoveries related to these internal losses. In the fourth quarter of 2021, we wrote off the remaining accounts receivable of $8.1 million which had previously been fully reserved for. Due to the unusual nature of this internal loss and the related errors in the subledger data, along with the fact that management has excluded these amounts when evaluating internal performance, we have excluded these net charges from segment and non-GAAP results.

Reporting compliance Certain compliance costs (primarily third party expenses) are excluded from 2020 and 2021 non-GAAP results. These costs relate to the implementation and January 1, 2019 adoption of the new lease accounting standard (amounts were not significant in 2021 and were $0.5 million in 2020).

The Brink’s Company and subsidiaries

Non-GAAP Results Reconciled to GAAP (Unaudited)

(In millions, except for percentages and per share amounts)

Non-GAAP results described in this press release are financial measures that are not required by or presented in accordance with U.S. generally accepted accounting principles (“GAAP”). The purpose of the Non-GAAP results is to report financial information from the primary operations of our business by excluding the effects of certain income and expenses that do not reflect the ordinary earnings of our operations. The specific items excluded have not been allocated to segments, are described on page 9 and in more detail in our Form 10-K, and are reconciled to comparable GAAP measures below. In addition, we refer to non-GAAP constant currency amounts, which represent current period results and forecasts at prior period exchange rates.

Non-GAAP results adjust the quarterly Non-GAAP tax rates so that the Non-GAAP tax rate in each of the quarters is equal to the full-year estimated Non-GAAP tax rate. The full-year Non-GAAP tax rate in both years excludes certain pretax and income tax amounts. Amounts reported for prior periods have been updated in this report to present information consistently for all periods presented.

The 2022 Non-GAAP outlook amounts for operating profit, EPS from continuing operations, free cash flow before dividends and Adjusted EBITDA cannot be reconciled to GAAP without unreasonable effort. We cannot reconcile these amounts to GAAP because we are unable to accurately forecast the impact of highly inflationary accounting on our Argentina operations or other potential Non-GAAP adjusting items for which the timing and amounts are currently under review, such as future restructuring actions. We are also unable to forecast changes in cash held for customer obligations or proceeds from the sale of property, equipment and investments in 2022. The impact of highly inflationary accounting and other potential Non-GAAP adjusting items could be significant to our GAAP results.

The Non-GAAP financial measures are intended to provide investors with a supplemental comparison of our operating results and trends for the periods presented. Our management believes these measures are also useful to investors as such measures allow investors to evaluate our performance using the same metrics that our management uses to evaluate past performance and prospects for future performance. We do not consider these items to be reflective of our operating performance as they result from events and circumstances that are not a part of our core business. Additionally, non-GAAP results are utilized as performance measures in certain management incentive compensation plans. Non-GAAP results should not be considered as an alternative to revenue, income or earnings per share amounts determined in accordance with GAAP and should be read in conjunction with their GAAP counterparts. Non-GAAP financial measures may not be comparable to Non-GAAP financial measures presented by other companies.

Non-GAAP Results Reconciled to GAAP


	2020					2021
	Pre-tax income		Income taxes	Effective tax rate		Pre-tax income		Income taxes	Effective tax rate
Effective Income Tax Rate
GAAP	$	79.3	56.6	71.4	%	$	235.5	120.3	51.1	%
Retirement plans(b)	33.8		7.9			29.8		7.7
Reorganization and Restructuring(a)	67.1		15.8			43.6		11.7
Acquisitions and dispositions(a)	91.5		11.6			68.8		2.5
Chile antitrust matter(a)	—		—			9.5		—
Argentina highly inflationary impact(a)	10.6		(1.3)			12.3		(1.1)
Internal loss(a)	6.9		1.6			(21.1)		(1.3)
Reporting compliance(a)	0.5		—			—		—
Deferred tax valuation allowance(c)	—		—			—		(12.8)
Non-GAAP	$	289.7	92.2	31.8	%	$	378.4	127.0	33.6	%

Amounts may not add due to rounding.

(a)See “Other Items Not Allocated To Segments” on pages 8-9 for details. We do not consider these items to be reflective of our operating performance as they result from events and circumstances that are not a part of our core business.

(b)Our U.S. retirement plans are frozen and costs related to these plans are excluded from non-GAAP results. Certain non-U.S. operations also have retirement plans. Settlement charges and curtailment gains related to these non-U.S. plans are also excluded from non-GAAP results.

(c)There was a change in judgement resulting in a valuation allowance against certain tax attributes with a limited statutory carryforward period that are no longer more-likely-than-not to be realized due to lower than expected Canada operating results.

(d)Non-GAAP income from continuing operations and non-GAAP EPS have been adjusted to reflect an effective income tax rate in each interim period equal to the full-year non-GAAP effective income tax rate. The full-year non-GAAP effective tax rate was 33.6% for 2021 and 31.8% for 2020.

(e)There is no difference between GAAP and non-GAAP share-based compensation amounts for the other periods presented.

(f)Due to the impact of Argentina highly inflationary accounting, there was a $0.1 million non-GAAP adjustment for a gain in the fourth quarter of 2020. There is no difference between GAAP and non-GAAP marketable securities gain and loss amounts for the other periods presented.

(g)Adjusted EBITDA is defined as non-GAAP income from continuing operations excluding the impact of non-GAAP interest expense, non-GAAP income tax provision, non-GAAP depreciation and amortization, non-GAAP share-based compensation and non-GAAP marketable securities (gain) loss.

(h)Because we reported a loss from continuing operations on a GAAP basis in the third quarter of 2020, GAAP EPS was calculated using basic shares. However, as we reported income from continuing operations on a non-GAAP basis in the third quarter of 2020, non-GAAP EPS was calculated using diluted shares.

The Brink’s Company and subsidiaries

Non-GAAP Results Reconciled to GAAP (Unaudited)

(In millions, except for percentages and per share amounts)


	2020											2021
	1Q			2Q		3Q		4Q		Full Year		1Q			2Q		3Q		4Q		Full Year

Revenues:
GAAP	$	872.8		826.0		970.5		1,021.6		3,690.9		$	977.7		1,048.8		1,075.5		1,098.2		4,200.2



Non-GAAP	$	872.8		826.0		970.5		1,021.6		3,690.9		$	977.7		1,048.8		1,075.5		1,098.2		4,200.2

Operating profit (loss):
GAAP	$	26.2		(1.0)		76.4		111.9		213.5		$	61.7		73.3		74.2		145.5		354.7
Reorganization and Restructuring(a)	5.6			39.0		5.1		16.9		66.6		6.6			15.1		14.0		7.9		43.6
Acquisitions and dispositions(a)	19.1			30.9		16.2		16.9		83.1		18.7			20.5		16.6		16.1		71.9
Argentina highly inflationary impact(a)	2.4			2.8		3.2		2.3		10.7		3.9			2.6		2.3		3.1		11.9
Chile antitrust matter(a)	—			—		—		—		—		—			—		9.5		—		9.5
Internal loss(a)	9.6			1.2		(0.9)		(3.0)		6.9		(0.8)			(0.9)		(0.7)		(18.7)		(21.1)
Reporting compliance(a)	0.2			0.3		(0.1)		0.1		0.5		—			—		—		—		—
Non-GAAP	$	63.1		73.2		99.9		145.1		381.3		$	90.1		110.6		115.9		153.9		470.5

Operating margin:
GAAP margin	3.0		%	(0.1)	%	7.9	%	11.0	%	5.8	%	6.3		%	7.0	%	6.9	%	13.2	%	8.4	%

Non-GAAP margin	7.2		%	8.9	%	10.3	%	14.2	%	10.3	%	9.2		%	10.5	%	10.8	%	14.0	%	11.2	%

Interest expense:
GAAP	$	(20.0)		(23.2)		(27.1)		(26.2)		(96.5)		$	(27.2)		(28.2)		(27.6)		(29.2)		(112.2)
Acquisitions and dispositions(a)	0.7			0.3		0.5		0.4		1.9		0.3			0.5		0.3		0.2		1.3

Non-GAAP	$	(19.3)		(22.9)		(26.6)		(25.8)		(94.6)		$	(26.9)		(27.7)		(27.3)		(29.0)		(110.9)

Interest and other income (expense):
GAAP	$	(15.6)		(3.0)		(12.8)		(6.3)		(37.7)		$	(5.5)		4.6		(0.7)		(5.4)		(7.0)
Retirement plans(b)	7.7			8.1		8.7		9.3		33.8		6.4			6.7		7.2		9.5		29.8
Reorganization and Restructuring(a)	—			—		0.5		—		0.5		—			—		—		—		—
Acquisitions and dispositions(a)	3.0			0.5		0.4		2.6		6.5		0.2			(1.2)		(3.3)		(0.1)		(4.4)
Argentina highly inflationary impact(a)	—			—		—		(0.1)		(0.1)		—			—		—		0.4		0.4
Non-GAAP	$	(4.9)		5.6		(3.2)		5.5		3.0		$	1.1		10.1		3.2		4.4		18.8

Taxes:
GAAP	$	(12.2)		(43.2)		58.9		53.1		56.6		$	13.6		22.7		22.9		61.1		120.3
Retirement plans(b)	1.8			1.9		2.1		2.1		7.9		1.9			1.8		1.2		2.8		7.7
Reorganization and Restructuring(a)	1.3			9.0		1.3		4.2		15.8		1.6			3.7		3.9		2.5		11.7
Acquisitions and dispositions(a)	2.1			3.6		4.0		1.9		11.6		0.5			1.7		1.2		(0.9)		2.5

Argentina highly inflationary impact(a)	(0.2)			(0.3)		(0.2)		(0.6)		(1.3)		(0.3)			(0.3)		(0.3)		(0.2)		(1.1)
Internal loss(a)	2.2			0.3		(0.2)		(0.7)		1.6		(0.4)			(0.3)		(0.1)		(0.5)		(1.3)

Deferred tax valuation allowance(c)	—			—		—		—		—		—			—		—		(12.8)		(12.8)
Income tax rate adjustment(d)	17.4			46.5		(43.6)		(20.3)		—		4.7			1.9		2.0		(8.6)		—
Non-GAAP	$	12.4		17.8		22.3		39.7		92.2		$	21.6		31.2		30.8		43.4		127.0

Noncontrolling interests:
GAAP	$	1.0		2.3		1.4		1.2		5.9		$	2.7		3.0		4.0		2.4		12.1
Reorganization and Restructuring(a)	0.1			—		0.2		—		0.3		0.1			0.4		—		—		0.5
Acquisitions and dispositions(a)	—			0.1		0.2		0.2		0.5		0.5			(0.1)		0.2		0.3		0.9
Income tax rate adjustment(d)	(0.4)			(1.6)		1.0		1.0		—		(0.7)			0.4		(0.3)		0.6		—
Non-GAAP	$	0.7		0.8		2.8		2.4		6.7		$	2.6		3.7		3.9		3.3		13.5

Amounts may not add due to rounding.

See page 10 for footnote explanations.


	2020						2021
	1Q		2Q	3Q	4Q	Full Year	1Q		2Q	3Q	4Q	Full Year

Income (loss) from continuing operations attributable to Brink's:
GAAP	$	1.8	13.7	(23.8)	25.1	16.8	$	12.7	24.0	19.0	47.4	103.1
Retirement plans(b)	5.9		6.2	6.6	7.2	25.9	4.5		4.9	6.0	6.7	22.1
Reorganization and Restructuring(a)	4.2		30.0	4.1	12.7	51.0	4.9		11.0	10.1	5.4	31.4
Acquisitions and dispositions(a)	20.7		28.0	12.9	17.8	79.4	18.2		18.2	12.2	16.8	65.4

Argentina highly inflationary impact(a)	2.6		3.1	3.4	2.8	11.9	4.2		2.9	2.6	3.7	13.4
Chile antitrust matter(a)	—		—	—	—	—	—		—	9.5	—	9.5
Internal loss(a)	7.4		0.9	(0.7)	(2.3)	5.3	(0.4)		(0.6)	(0.6)	(18.2)	(19.8)
Reporting compliance(a)	0.2		0.3	(0.1)	0.1	0.5	—		—	—	—	—
Deferred tax valuation allowance(c)	—		—	—	—	—	—		—	—	12.8	12.8
Income tax rate adjustment(d)	(17.0)		(44.9)	42.6	19.3	—	(4.0)		(2.3)	(1.7)	8.0	—
Non-GAAP	$	25.8	37.3	45.0	82.7	190.8	$	40.1	58.1	57.1	82.6	237.9

Adjusted EBITDA(g):
Net income (loss) attributable to Brink's - GAAP	$	1.8	12.9	(23.9)	25.2	16.0	$	12.7	23.9	19.0	49.6	105.2
Interest expense - GAAP	20.0		23.2	27.1	26.2	96.5	27.2		28.2	27.6	29.2	112.2
Income tax provision - GAAP	(12.2)		(43.2)	58.9	53.1	56.6	13.6		22.7	22.9	61.1	120.3
Depreciation and amortization - GAAP	45.0		52.1	55.1	54.6	206.8	54.8		61.7	61.6	61.4	239.5
EBITDA	$	54.6	45.0	117.2	159.1	375.9	$	108.3	136.5	131.1	201.3	577.2
Discontinued operations - GAAP	—		0.8	0.1	(0.1)	0.8	—		0.1	—	(2.2)	(2.1)
Retirement plans(b)	7.7		8.1	8.7	9.3	33.8	6.4		6.7	7.2	9.5	29.8
Reorganization and Restructuring(a)	5.5		38.7	4.8	16.5	65.5	6.4		14.6	13.7	8.1	42.8
Acquisitions and dispositions(a)	14.7		22.2	7.0	9.1	53.0	8.5		6.6	0.4	3.3	18.8
Argentina highly inflationary impact(a)	1.7		2.1	2.4	2.6	8.8	3.4		2.1	1.7	2.9	10.1
Chile antitrust matter(a)	—		—	—	—	—	—		—	9.5	—	9.5
Internal loss(a)	9.6		1.2	(0.9)	(3.0)	6.9	(0.8)		(0.9)	(0.7)	(18.7)	(21.1)
Reporting compliance(a)	0.2		0.3	(0.1)	0.1	0.5	—		—	—	—	—
Income tax rate adjustment(d)	0.4		1.6	(1.0)	(1.0)	—	0.7		(0.4)	0.3	(0.6)	—
Share-based compensation(e)	7.2		5.4	8.7	10.0	31.3	7.6		11.1	9.2	6.1	34.0
Marketable securities (gain) loss(f)	2.5		(5.9)	1.1	(8.2)	(10.5)	(3.4)		(10.8)	(2.1)	(0.1)	(16.4)
Adjusted EBITDA	$	104.1	119.5	148.0	194.4	566.0	$	137.1	165.6	170.3	209.6	682.6





EPS:
GAAP	$	0.03	0.27	(0.47)	0.50	0.33	$	0.25	0.47	0.38	0.97	2.06
Retirement plans(b)	0.12		0.12	0.13	0.14	0.51	0.09		0.10	0.12	0.14	0.44
Reorganization and Restructuring(a)	0.08		0.59	0.08	0.25	1.00	0.10		0.22	0.20	0.11	0.63
Acquisitions and dispositions(a)	0.40		0.55	0.26	0.35	1.56	0.36		0.36	0.24	0.34	1.31

Argentina highly inflationary impact(a)	0.05		0.06	0.07	0.06	0.23	0.08		0.06	0.05	0.08	0.27
Chile antitrust matter(a)	—		—	—	—	—	—		—	0.19	—	0.19
Internal loss(a)	0.14		0.02	(0.01)	(0.05)	0.10	(0.01)		(0.01)	(0.01)	(0.37)	(0.40)
Reporting compliance(a)	—		0.01	—	—	0.01	—		—	—	—	—
Deferred tax valuation allowance(c)	—		—	—	—	—	—		—	—	0.26	0.26
Income tax rate adjustment(d)	(0.33)		(0.88)	0.84	0.38	—	(0.08)		(0.05)	(0.03)	0.16	—
Share adjustment(h)	—		—	—	—	—	—		—	—	—	—
Non-GAAP	$	0.50	0.73	0.89	1.64	3.76	$	0.79	1.15	1.14	1.68	4.75

Depreciation and Amortization:
GAAP	$	45.0	52.1	55.1	54.6	206.8	$	54.8	61.7	61.6	61.4	239.5
Reorganization and Restructuring(a)	—		(0.3)	(0.6)	(0.4)	(1.3)	(0.1)		(0.1)	(0.3)	0.2	(0.3)
Acquisitions and dispositions(a)	(7.4)		(9.1)	(9.4)	(10.2)	(36.1)	(9.9)		(12.8)	(12.7)	(12.4)	(47.8)
Argentina highly inflationary impact(a)	(0.7)		(0.7)	(0.8)	0.4	(1.8)	(0.5)		(0.5)	(0.6)	(0.6)	(2.2)
Non-GAAP	$	36.9	42.0	44.3	44.4	167.6	$	44.3	48.3	48.0	48.6	189.2

Amounts may not add due to rounding.

See page 10 for footnote explanations.


	2020		2021
	Full Year			Full Year

Free cash flow before dividends:
Cash flows from operating activities
Operating activities - GAAP	$	317.7		478.0
Increase in restricted cash held for customers	(116.3)			(60.2)
(Increase) decrease in certain customer obligations(a)	6.5			(15.7)
G4S intercompany payments(b)	111.1			2.6
Operating activities - non-GAAP	$	319.0		404.7
Capital expenditures - GAAP	(118.5)			(167.9)
Proceeds from sale of property, equipment and investments(b)	5.3			7.7
Free cash flow before dividends	$	205.8		244.5

(a)To adjust for the change in the balance of customer obligations related to cash received and processed in certain of our secure Cash Management Services operations. The title to this cash transfers to us for a short period of time. The cash is generally credited to customers’ accounts the following day and we do not consider it as available for general corporate purposes in the management of our liquidity and capital resources.

(b)In the fourth quarter of 2020, we changed our definition of free cash flow before dividends to exclude payments made to G4S for net intercompany receivables and to include proceeds from sale of property, equipment and investments. All previously disclosed information for all periods presented has been revised.

Free cash flow before dividends is a supplemental financial measure that is not required by, or presented in accordance with GAAP. The purpose of this non-GAAP measure is to report financial information excluding the change in restricted cash held for customers, the impact of cash received and processed in certain of our secure cash management services operations, capital expenditures, payments made to G4S for net intercompany receivables from the acquired subsidiaries, and to include proceeds from the sale of property, equipment and investments. In the fourth quarter of 2020, we changed the definition of free cash flow before dividends to exclude payments made to G4S for net intercompany receivables and to include proceeds from sale of property, equipment and investments. We believe this measure is helpful in assessing cash flows from operations, enables period-to-period comparability and is useful in predicting future cash flows. This non-GAAP measure should not be considered as an alternative to cash flows from operating activities determined in accordance with GAAP and should be read in conjunction with our consolidated statements of cash flows.

brinksfourthquarter2021s

Fourth-Quarter Earnings February 23, 2022 Exhibit 99.2

2 These materials contain forward-looking information. Words such as "anticipate," "assume," "estimate," "expect," “target” "project," “model”, "predict," "intend," "plan," "believe," "potential," "may," "should" and similar expressions may identify forward-looking information. Forward-looking information in these materials includes, but is not limited to information regarding: 2022 outlook, including revenue, operating profit, adjusted EBITDA, earnings per share, capital expenditures, net debt and leverage, free cash flow and the drivers thereof; 2024 financial targets; the impact of macroeconomic factors, including economic recovery and global inflation and supply chain disruptions, cost reductions and leverage; strength of cash levels; strategic targets and initiatives (including Strategy 1.0 and Strategy 2.0); advancement of sustainability initiatives, including our first sustainability report, and future legacy liability contributions. Forward-looking information in this document is subject to known and unknown risks, uncertainties and contingencies, which are difficult to predict or quantify, and which could cause actual results, performance or achievements to differ materially from those that are anticipated. These risks, uncertainties and contingencies, many of which are beyond our control, include, but are not limited to: our ability to improve profitability and execute further cost and operational improvement and efficiencies in our core businesses; our ability to improve service levels and quality in our core businesses; market volatility and commodity price fluctuations; seasonality, pricing and other competitive industry factors; investment in information technology (“IT”) and its impact on revenue and profit growth; our ability to maintain an effective IT infrastructure and safeguard confidential information; our ability to effectively develop and implement solutions for our customers; risks associated with operating in foreign countries, including changing political, labor and economic conditions, regulatory issues (including the imposition of international sanctions, including by the U.S. government), currency restrictions and devaluations, restrictions on and cost of repatriating earnings and capital, impact on the Company’s financial results as a result of jurisdictions determined to be highly inflationary, and restrictive government actions, including nationalization; higher-than-expected inflation; labor issues, including labor shortages, negotiations with organized labor and work stoppages; pandemics (including the ongoing Covid-19 pandemic and related impact to and restrictions on the actions of businesses and consumers, including suppliers and customers), acts of terrorism, strikes or other extraordinary events that negatively affect global or regional cash commerce; anticipated cash needs in light of our current liquidity position and the impact of Covid-19 on our liquidity; the strength of the U.S. dollar relative to foreign currencies and foreign currency exchange rates; our ability to identify, evaluate and complete acquisitions and other strategic transactions and to successfully integrate acquired companies; costs related to dispositions and product or market exits; our ability to obtain appropriate insurance coverage, positions taken by insurers relative to claims and the financial condition of insurers; safety and security performance and loss experience; employee and environmental liabilities in connection with former coal operations, including black lung claims; the impact of the American Rescue Plan Act and Patient Protection and Affordable Care Act on legacy liabilities and ongoing operations; funding requirements, accounting treatment, and investment performance of our pension plans, the VEBA and other employee benefits; changes to estimated liabilities and assets in actuarial assumptions; the nature of hedging relationships and counterparty risk; access to the capital and credit markets; our ability to realize deferred tax assets; the outcome of pending and future claims, litigation, and administrative proceedings; public perception of our business, reputation and brand; changes in estimates and assumptions underlying critical accounting policies; the promulgation and adoption of new accounting standards, new government regulations and interpretation of existing standards and regulations. This list of risks, uncertainties and contingencies is not intended to be exhaustive. Additional factors that could cause our results to differ materially from those described in the forward looking statements can be found under "Risk Factors" in Item 1A of our Annual Report on Form 10-K for the period ended December 31, 2020 and in related disclosures in our other public filings with the Securities and Exchange Commission, including our Quarterly Reports on Form 10-Q for the quarterly period ended March 31, 2021, June 30, 2021 and September 30, 2021. Unless otherwise noted, the forward-looking information discussed today and included in these materials is representative as of today only and The Brink's Company undertakes no obligation to update any information contained in this document. These materials are copyrighted and may not be used without written permission from Brink's. Today’s presentation is focused primarily on non-GAAP results. Detailed reconciliations of non-GAAP to GAAP results are included in the appendix and in the Fourth Quarter 2021 Earnings Release available in the Quarterly Results section of the Brink’s website: www.brinks.com Safe Harbor Statements and Non-GAAP Results

3 Key Messages Notes: See detailed reconciliations of non-GAAP to GAAP results included in the Fourth Quarter 2021 Earnings Release available in the Quarterly Results section of the Brink’s website www.brinks.com. 1. Excludes the impact of mark-to-market accounting related to equity investment in MoneyGram International, Inc. which was sold in July 2021 2. At the mid-point of the 2022 Guidance range. Record revenue and operating profit • Full-Year − Revenue up 14%...constant currency up 14%; operating profit up 23%...constant currency up 26% − Adjusted EBITDA up 21%; EPS up 25% (excluding MGI impact1) • Fourth-Quarter − Revenue up 7%...constant currency up 11%; operating profit up 6%...constant currency up 15% − Adjusted EBITDA up 8%; EPS up 11% (excluding MGI impact1) 2022: Expect revenue returning to at least pre-Covid levels with continued margin expansion • Continued organic revenue growth through 4Q 2021; strong jumping-off point for 2022 • 8% - 11% revenue growth; continued market recovery and organic growth from Strategy 1.0 and 2.0 • U.S. pricing and wage inflation in balance as we enter 2022 • 2022 revenue expected to be up 25%2 vs 2019, with 150 - 180 bps margin improvement 2022-2024: 3-year financial targets disclosed at 2021 Investor Day • Annual organic revenue growth of ~7% expected to drive 2024 revenue to ~$5.4B • Targeting 100 bps annual operating margin growth, 2024 adjusted EBITDA of ~$1B • 2024 free cash flow target of ~$575M (non-GAAP)

4 Notes: See detailed reconciliations of non-GAAP to GAAP results included in the Fourth Quarter 2021 Earnings Release available in the Results section of the Brink’s website www.brinks.com. See detailed reconciliations of non-GAAP to GAAP 2019 results in the Appendix. Constant currency represents 2021 results at 2020 exchange rates. Full-Year 2021 Results Revenue +14% Organic +5% Acq +9% FX -% EPS +26%Adj. EBITDA +21%Op Profit +23% Organic +18% Acq +8% FX (2%) $3,680 $3,691 $4,200 2019 2020 2021 $567 $566 $683 2019 2020 2021 $392 $381 $471 2019 2020 2021 11.2% Margin 10.3% Margin 10.6% Margin 16.3% Margin 15.3% Margin 15.4% Margin (non-GAAP, $ millions, except EPS) $3.60 excl. MGI gain $4.51 excl. MGI gain $3.89 $3.76 $4.75 2019 2020 2021 Constant Currency +14% Constant Currency +26% Constant Currency +22% Constant Currency +29%

5 $1.51 excl. MGI gain $1.18 $1.64 $1.68 2019 2020 2021 Notes: See detailed reconciliations of non-GAAP to GAAP results included in the Fourth Quarter 2021 Earnings Release available in the Results section of the Brink’s website www.brinks.com. See detailed reconciliations of non-GAAP to GAAP 2019 results in the Appendix. Constant currency represents 2021 results at 2020 exchange rates. 1. Excludes the impact of mark-to-market accounting related to equity investment in MoneyGram International, Inc. (MGI). The f ourth quarter 2020 included a gain of $8 million ($0.13 per share) in MGI stock, which was sold in July 2021 and had no impact on fourth quarter 2021 results. Fourth-Quarter 2021 Results Revenue +7% Organic +7% Acq +4% FX (3%) EPS +2%Adj. EBITDA +8%Op Profit +6% Organic +11% Acq +4% FX (9%) +11% excluding $.13 / share MGI gain in 4Q201 $936 $1,022 $1,098 2019 2020 2021 $156 $194 $210 2019 2020 2021 $116 $145 $154 2019 2020 2021 14.0% Margin 14.2% Margin 12.4% Margin 19.1% Margin 19.0% Margin 16.7% Margin (non-GAAP, $ millions, except EPS) Constant Currency +11% Constant Currency +15% Constant Currency +15% Constant Currency +13%

6 Revenue Recovery Continues – Q4 Local Currency Revenue Exceeds Pre-Covid Levels 1Q 2Q 3Q 4Q North America Latin America Europe Rest of World 2021 Total 1. Pro-f orma 2019 Revenue adjusted to include results for businesses acquired in 2020 and 2021 as if they were owned in 2019. LC / USD 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q1Q 2Q 3Q 4Q LC USD LC USD USD USDLC LC Local Currency USD 93% 93% 97% 97% 96% 96% 99% 100% 109% 81% 106% 82% 108% 85% 109% 86% 86% 90% 88% 93% 92% 96% 95% 97% 95% 97% 93% 97% 93% 95% 99% 101% 97% 89% 97% 92% 98% 93% 101% 95% = LC Excluding Argentina 1Q 2Q 3Q 4Q 2021 Quarterly Revenue % vs Pro-forma Pre-Covid Levels1 Expect 2022 Revenue to Return to at least Pro-forma Pre-Covid Levels1

7 Brink’s Expects Limited Impact in 2022 from Macroeconomic Factors • Global inflation and supply chain − Minimal impact from global supply chain disruptions − Higher fuel costs offset by surcharges − Price increases implemented to offset wage inflation pressures, especially in U.S. labor market • Covid-19 and Omicron variant − Impact subsiding in North America…anticipating further recovery in 2022 − European countries beginning to reopen − South America and Asia Pacific reopenings lagging other geographies

8 Our Strategic Plan – A New Layer of Growth Upon a Strong Foundation 2022 20242023 Digital solutions and ATM managed services • Expect to be 5%+ of total revenue in 2022, targeting $500M+ incremental revenue in 2024 • Global ATM managed services market growth represents significant opportunity • Brink’s Complete retail solutions accelerating with direct salesforce, new channel partnerships and app integrations Strategy 2.0 Organic growth and operational excellence • Expect to drive ~3/4 of organic revenue growth in 2022 from volume, pricing and Covid-19 recovery • Execute “BreakThru” initiatives and incremental improvements by controlling variable costs, indirect expenses, and SG&A as revenue increases • Earnings leverage driven by ongoing productivity and cost reductions Strategy 1.0

9 $145 $16 $6 $167 ( $13 ) $154 2020 Op Profit Organic Acq / Disp* 2021 Op Profit Before FX FX 2021 Op Profit Fourth-Quarter Revenue and Operating Profit vs 2020 Notes: Amounts may not add due to rounding. See detailed reconciliations of non-GAAP to GAAP results included in the Fourth Quarter 2021 Earnings Release available in the Results section of the Brink’s website www.brinks.com. * Acq/Disp amounts include the impact of prior year trailing twelve-month results for acquired and disposed businesses. % Change (3%)7% 4% 7%11% Constant Currency Constant Currency % Change (9%)11% 4% 6%15% Revenue Operating Profit $1,022 $67 $40 $1,129 ( $31 ) $1,098 2020 Revenue Organic Acq / Disp* 2021 Revenue Before FX FX 2021 Revenue 14.2% Margin 14.8% Margin 14.0% Margin (non-GAAP, $ millions)

10 Fourth-Quarter Adjusted EBITDA and EPS vs 2020 Notes: Amounts may not add due to rounding. See detailed reconciliations of non-GAAP to GAAP results included in the Fourth Quarter 2021 Earnings Release available in the Quarterly Results section of the Brink’s website www.brinks.com. 1. Excludes the impact of mark-to-market accounting related to equity investment in MoneyGram International, Inc. (MGI). The f ourth quarter 2020 included a gain of $8 million ($0.13 per share) in MGI stock, which was sold in July 2021 and had no impact on f ourth quarter 2021 results. $154 ( $29 ) ( $43 ) $1 $83 $49 $72 $6 ( $0 ) $210 Op Profit Interest Expense Taxes Other Income from Continuing Ops D&A Interest Exp & Taxes Stock Comp Marketable Securities Adj. EBITDA +8% vs PY VS. 2020 $9 ( $3 ) ( $4 ) ( $2 ) $0 $4 $7 ( $4 ) $8 $15 (non-GAAP, $ millions, except EPS) Q4 2021 EPS: $1.68 +2% vs PY, +11% ex MGI1 Q4 2020 EPS: $1.64

11 $471 $212 $683 ( $88 ) ( $84 ) ( $106 ) ( $160 ) $245 $275 Adj. EBITDA WC, Cash Restructuring & Deferred Payments Cash Taxes Cash Interest Cash CapEx Free Cash Flow before Dividends Pro-forma excluding deferred payroll taxes D&A / Other Op Profit Adjusted EBITDA 40% of EBITDA 1 VS. 2020 $117 $4 ( $7 ) ( $28 ) ( $47 ) $39 $114 Adjusted EBITDA Working Capital and Cash Restructuring: Lower restructuring in 2021 post-Covid-19 and G4S acquisition $30 of Deferred Payments made: primarily payroll taxes in US and France Cash Taxes: Higher due to timing of refunds Cash Interest: Higher due to acquisitions and share repurchase, partially offset by cross-currency interest rate swap Cash Capital Expenditures: Higher due to temporary reductions in 2020 Free Cash Flow before Dividends Pro-forma excluding deferred payroll taxes Strong Free Cash Flow Achieved in 2021 (Non-GAAP, $ millions) Notes: Amounts may not add due to rounding. See detailed reconciliations of non-GAAP to GAAP results included in the Fourth Quarter 2021 Earnings Release available in the Quarterly Results section of the Brink’s website www.brinks.com. 1. Includes cash proceeds from sale of property, equipment and investments. Growth of 71% excluding deferred payments

12 $545 - $580 $210 $755 - $790 ( $60 ) ( $100 ) ( $115 ) ( $180 ) $300 - $335 $310 - $345 Adj. EBITDA WC, Cash Restructuring & Deferred Payments Cash Taxes Cash Interest Cash CapEx Free Cash Flow before Dividends Pro-forma excluding deferred payroll taxes D&A / Other Op Profit Adjusted EBITDA ~42% of EBITDA 1 Vs. 2021 $72 - $107 $28 ( $16 ) ( $9 ) ( $20 ) $55 - $90 $35 - $70 Adjusted EBITDA Working Capital and Cash Restructuring: Lower restructuring expected in 2022 post-Covid-19 and G4S acquisition $10 Deferred Payments to be made: primarily payroll taxes in US Cash Taxes: Higher due to timing of refunds Cash Interest: Higher due to full-year of acquisitions, share repurchase and interest rate increase Cash Capital Expenditures Free Cash Flow before Dividends Pro-forma excluding deferred payroll taxes Strong Free Cash Flow Expected in 2022 (Non-GAAP, $ millions) Notes: Amounts may not add due to rounding. See detailed reconciliations of non-GAAP to GAAP results included in the Fourth Quarter 2021 Earnings Release available in the Quarterly Results section of the Brink’s website www.brinks.com. 1. Includes cash proceeds from sale of property, equipment and investments; excludes our initial investment in France to support the take-over of the BPCE ATM network.

13 $566 $683 $755 - $790 2020 Actual 2021 Actual 2022 Guidance Net Debt and Leverage 1. Net Debt divided by Adjusted EBITDA. 2. Pro-f orma Net Debt at year-end, considering our 2022 Free Cash Flow Targets. 3. Bank def ined EBITDA includes TTM EBITDA, plus projected 18 month synergies for acquisitions. Max ratio is 4.25x as of 12/31/20, 3.75x as of 12/31/21 and 3.5x as of 12/31/22. 4. Net of unamortized debt issuance costs of $13 million as of 12/31/2020 and $10 million as of 12/31/2021. Note: See detailed reconciliations of non-GAAP to GAAP results in the Appendix and included in the Fourth Quarter 2021 Earnings Release available in the Quarterly Results section of the Brink’s website www.brinks.com. Net Debt Adjusted EBITDA and Financial Leverage Adjusted EBITDA Secured Leverage Ratio3 2.0 $988 $990 $896 $1,301 $1,884 $2,291 12/31/2020 Actual 12/31/2021 Actual 12/31/2022 Target Unsecured Senior Notes4 Secured Net Debt Net Debt Leverage Ratio1 3.3 3.4 ~2.7 – 2.8 $2,110 - $2,145 2 (Non-GAAP, $ millions) 1.8 ~1.5 – 1.7

14 Sustainability Progress Increasing our global focus, investment and disclosure Highlights • Reducing stops, routes and carbon emissions through Brink’s Complete rollout • Strengthening green energy initiatives by expanding LED penetration, dual/alternate fuel vehicles, solar panels in branches and fleet, and recycling programs • Signatory to the UN Global Compact and supporting CEO Action for Diversity and Inclusion • Continuing to promote the role of cash in economic inclusion • Brink’s first Sustainability Report expected to be released in June Solar panels at the Monterrey branch in Mexico reduce energy usage and cost

15 $4,200 4,650 – 4,800 (130) 4,520 – 4,670 2021 Strategy 1.0 Additional Covid-19 Recovery Strategy 2.0 2022 Constant Currency FX 2022 Guidance $471 580 – 615 (35) 545 – 580 2021 Strategy 1.0 Additional Covid-19 Recovery Strategy 2.0 2022 Constant Currency FX 2022 Guidance 2022 Guidance Note: See detailed reconciliations of non-GAAP to GAAP results in the Appendix and included in the Fourth Quarter 2021 Earnings Release available in the Quarterly Results section of the Brink’s website www.brinks.com. See detailed reconciliations of non- GAAP to GAAP 2019 results in the Appendix. Constant currency represents 2022 at 2021 exchange rates. 1. Pro-f orma 2019 Revenue adjusted to include results for businesses acquired in 2020 and 2021 as if they were owned in 2019. 2. January 4, 2022, the U.S. Treasury published in the Federal Register final foreign tax credit regulations. The impact of new foreign tax credit regulations on 2022 income tax expense is currently under review and is not included in the 2022 guidance EPS. (non-GAAP, $ millions, except EPS) Revenue Operating Profit Guidance Mid-point 100%+ of 20191 Margin % Change (3%) 8 - 11%11 - 14% % Change (7%) 16 - 23%23 - 31% 12.1- 12.4% 11.2% 12.5 - 12.8% 2019 2020 2021 Low High Revenue $ 3,680 3,691 4,200 4,520 4,670 Op Profit 392 381 471 545 580 Adj. EBITDA 567 566 683 755 790 EPS2 $ 3.89 3.76 4.75 5.50 6.00 2022 Guidance Guidance Summary • Reported revenue growth of 8-11% • Reported operating profit growth of 16-23% with 90-120 bps margin improvement • 2022 guidance consistent with Investor Day targets, updated to reflect year-end foreign exchange rates

16 + 840 – 990 7 – 8% + 150 – 180 bps 12 – 14% (Non-GAAP, $ Millions except where noted) 2024 Target 2019 Operating Profit Revenue 2021 $3,680 $392 10.6% $5,300 – 5,500 $1,000 $795 ~18.5% ~14.5% $4,200 $683 $471 16.3% 11.2% 3-yr Strat Plan Target: Revenue + ~1.2B CAGR 8 – 9% OP Margin + ~330 bps CAGR 19% Strong Growth Since 2019…Positioned for Substantial Value Creation Operating Profit Adj. EBITDA Revenue Note: See detailed reconciliations of non-GAAP to GAAP results in the Appendix and included in the Fourth Quarter 2021 Earnings Release available in the Quarterly Results section of the Brink’s website www.brinks.com. See detailed reconciliations of non-GAAP to GAAP 2019 results in the Appendix. 1. At the mid-point of the Guidance range. 11.2% 2021 $4,200 $471 11.2% Acq Core 11.2% 2022 Guidance Acq Core 100%+ of 2019 Reported1 $4,520 – 4,670 $545 – 580 12.1–12.4% 2019 Reported versus: 2021 2022 Revenue + 520 CAGR 7% OP Margin + 60 bps CAGR 10% Core Margin Margin Margin 92% of 2019 Reported

Appendix

18 Brink’s Sustainability Principles We are embedding sustainability deeper into our strategy and execution. Strong financial performance alone is not sufficient; we are also improving the impact we have on the environment, society and governance of our business. ENVIRONMENT Reducing our environmental impact by: • Integrating responsible environmental practices in our daily operations • Reducing emissions and increasing the efficiency of our fleet operations through our digital transformation and route optimization GOVERNANCE Enhancing trust with all of our stakeholders by: • Ensuring everything we do aligns with our Code of Ethics • Employing risk management and other processes for responsible operations and ethical decision-making • Adhering to good corporate governance practices, including our focus on Board diversity and robust shareholder rights SOCIAL Promoting inclusion by: • Serving as advocates for cash as a payment method, which supports the unbanked and underbanked • Fostering a diverse, equitable and inclusive workplace • Ensuring our supplier base reflects the diversity of the communities we serve

19 Sustainability Spotlight: Environment Brink’s (PanAmericano) in Mexico is reducing emissions and fuel costs with fleet renewal project ENVIRONMENT • Mexico is working to improve the impact of its fleet by replacing traditional trucks with dual-combustion trucks. • They are using Lean methodology to execute the renewal without disruption to the daily operations. *Estimates of emissions reductions based on tests of selected units Initial Results Show Reduction in*: • Hydrocarbon emissions • Carbon monoxide • Annual fuel spend What’s Next: Continued expansion of this initiative with results expected to be included in forthcoming Sustainability Report

20 1. Pro-f orma 2019 Revenue adjusted to include results for businesses acquired in 2020 and 2021 as if they were owned in 2019 Note: Constant currency represents 2021 results at 2020 exchange rates. $329 $373 2020 2021 $46 $50 2020 2021 13.9% Margin 13.4% Margin $286 $294 2020 2021 $80 $77 2020 2021 28.1% Margin 26.1% Margin $171 $197 2020 2021 $36 $37 2020 2021 21.3% Margin 18.9% Margin Latin America Revenue +3% Op Profit (4%) Constant currency +11% +6% North America Revenue +13% Op Profit +9% Constant currency +13% +9% Europe Revenue (1%) Op Profit +11% Constant currency +4% +16% Rest of the World Revenue +16% Op Profit +2% Constant currency +16% +2% Organic +5% +2% Acq +7% +7% FX – – Organic +10% +6% Acq – – FX (8%) (10%) Organic +3% +15% Acq +1% +1% FX (4%) (5%) Organic +9% (3%) Acq +7% +5% FX – – Fourth-Quarter 2021 Results by Segment ($ millions) $236 $234 2020 2021 $29 $32 2020 2021 13.8% Margin 12.4% Margin % of 20191 93% 100% 83% 86% 98% 97% 96% 101%

21 1. Pro-f orma 2019 Revenue adjusted to include results for businesses acquired in 2020 and 2021 as if they were owned in 2019 Note: Constant currency represents 2021 results at 2020 exchange rates. $1,261 $1,407 2020 2021 $92 $148 2020 2021 7.3% Margin 10.5% Margin $1,072 $1,126 2020 2021 $234 $257 2020 2021 21.8% Margin 22.9% Margin $604 $750 2020 2021 $117 $132 2020 2021 19.4% Margin 17.5% Margin Latin America Revenue +5% Op Profit +10% Constant currency +10% +20% North America Revenue +12% Op Profit +62% Constant currency +11% +62% Europe Revenue +22% Op Profit +75% Constant currency +18% +74% Rest of the World Revenue +24% Op Profit +12% Constant currency +20% +9% Organic +5% +49% Acq +6% +13% FX +1% – Organic +10% +20% Acq +1% – FX (5%) (10%) Organic +2% +55% Acq +16% +19% FX +4% +2% Organic +1% +2% Acq +19% +7% FX +4% +4% Full-Year 2021 Results by Segment ($ millions) $754 $917 2020 2021 $51 $90 2020 2021 9.8% Margin 6.8% Margin % of 20191 91% 96% 80% 83% 90% 94% 96% 97%

22 $381 $68 $30 $479 ( $9 ) $471 2020 Op Profit Organic Acq / Disp* 2021 Op Profit Before FX FX 2021 Op Profit Full-Year Revenue and Operating Profit vs 2020 Notes: Amounts may not add due to rounding. See detailed reconciliations of non-GAAP to GAAP results included in the Fourth Quarter 2021 Earnings Release available in the Results section of the Brink’s website www.brinks.com. * Acq/Disp amounts include the impact of prior year trailing twelve-month results for acquired and disposed businesses. % Change -%5% 9% 14%14% Constant Currency Constant Currency % Change (2%)18% 8% 23%26% Revenue Operating Profit $3,691 $191 $315 $4,197 $3 $4,200 2020 Revenue Organic Acq / Disp* 2021 Revenue Before FX FX 2021 Revenue 10.3% Margin 11.4% Margin 11.2% Margin (non-GAAP, $ millions)

23 Full-Year Adjusted EBITDA and EPS vs 2020 Notes: Amounts may not add due to rounding. See detailed reconciliations of non-GAAP to GAAP results included in the Fourth Quarter 2021 Earnings Release available in the Quarterly Results section of the Brink’s website www.brinks.com. 1. The impact of mark-to-market accounting related to equity investment in MoneyGram International, Inc. which was sold in July 2021. $471 ( $111 ) ( $127 ) $5 $238 $189 $238 $34 ( $16 ) $683 Op Profit Interest Expense Taxes Other Income from Continuing Ops D&A Interest Exp & Taxes Stock Comp Marketable Securities Adj. EBITDA FY 2021 EPS: $4.75 +26% vs PY FY 2020 EPS: $3.76 +21% vs PY FY 2021 EPS includes MGI impact of +$0.081 vs FY 2020 VS. 2020 $89 ( $16) ( $35 ) $9 $47 $22 $51 $3 ( $6 ) $117 (non-GAAP, $ millions, except EPS)

24 $206 $257 $1,000 $1,000 $1,298 $1,228 $495 $602 $676 12/31/2020 12/31/2021 Cash and Debt Capacity Increased liquidity in 2020 • Incremental $590 million Term Loan A closed on April 1, 2020 • Incremental $400 million Senior Notes closed on June 22, 2020 No Maturities until 2024 • Credit Facility matures February 2024 • $600 million 4.625% Senior Notes mature October 2027 • $400 million 5.5% Senior Notes mature July 2025 Interest Rates • Variable interest LIBOR plus 1.75% • $400M USD/EUR interest rate swap saves 151 bps Debt Covenants Amended • Net secured debt leverage ratio of 2.0x vs 3.75x max No legacy liability contributions expected until 2032 Moody’s Ba2 (Stable); S&P BB (Positive)Utilized Revolver Available Revolver Senior Notes Term Loan A Revolver $1 B Fin. Leases & Other Cash ~$1.6 B Liquidity ~$1.2 B Liquidity Strong Financial Health – Ample Liquidity ($ millions, except where noted)

25 Debt Maturity Profile $70 $70 $70 $1,089 $400 $600 $1,000 2021 2022 2023 2024 2025 2026 2027 Term Loan A Senior Notes Revolver Senior Notes Maturity Schedule for Credit Facility and Senior Notes ($ millions) Term Loan A Amortization

26 Primary US Pension • The American Rescue Plan Act ("ARPA") signed into law in March 2021, provides funding relief for single-employer defined benefit pension plans. The ARPA provisions result in significant reduction in, and deferral of, minimum funding requirements. Because of the significant impact the ARPA provisions have on our primary U.S. pension plan's estimated future funding requirements, we have updated the assumptions used to calculate the estimated future payments. Based on these revised assumptions, no cash payments to the plan are needed in the foreseeable future. • Remeasurement occurs every year-end: expected to be disclosed in the 2021 annual report on Form 10-K UMWA • Based on actuarial assumptions (as of 12/31/21), cash payments are not needed until 2032 • Remeasurement occurs every year-end: expected to be disclosed in the 2021 annual report on Form 10-K Estimated Cash Payments for Legacy Liabilities Term Loan A Payments to Primary U.S. Pension Payments to UMWA $0 $22 $22 $21 $231 2021 2032 2033 2034 After 20342021 2022 2023 2024 2025 2026 No cash payments are expected in foreseeable future ($ millions)

27 2019 Non-GAAP Results Reconciled to GAAP (1 of 3) Amounts may not add due to rounding. See slide 29 for footnote explanations. The Brink’s Company and subsidiaries Non-GAAP Reconciliations (In millions) 2019 Q4 Full Year Revenues: GAAP 935.8$ 3,683.2 Acquisitions and dispositions(a) - 0.5 Internal loss(a) - (4.0) Non-GAAP 935.8$ 3,679.7 Operating profit (loss): GAAP 73.3$ 236.8 Reorganization and Restructuring(a) 8.3 28.8 Acquisitions and dispositions(a) 24.7 88.5 Argentina highly inflationary impact(a) 2.2 14.5 Internal loss(a) 7.0 20.9 Reporting compliance(a) 0.1 2.1 Non-GAAP 115.6$ 391.6 Interest expense: GAAP (22.0)$ (90.6) Acquisitions and dispositions(a) 1.3 5.8 Non-GAAP (20.7)$ (84.8) Taxes: GAAP 23.9$ 61.0 Retirement plans(c) 6.0 11.1 Reorganization and Restructuring(a) 1.5 7.1 Acquisitions and dispositions(a) 1.4 5.1 Tax on accelerated income(d) 7.3 7.3 Argentina highly inflationary impact(a) - (1.4) Internal loss(a) 1.5 4.0 Reporting compliance(a) 0.1 0.1 Gain on lease termination(h) - (1.2) Income tax rate adjustment(b) (13.7) - Non-GAAP 28.0$ 93.1

28 2019 Non-GAAP Results Reconciled to GAAP (2 of 3) Amounts may not add due to rounding. See slide 29 for footnote explanations. The Brink’s Company and subsidiaries Non-GAAP Reconciliations (In millions, except for per share amounts) Q4 Full Year Income (loss) from continuing operations attributable to Brink's: GAAP (3.8)$ 28.3 Retirement plans(c) 19.8 36.2 Venezuela operations(g) - 0.9 Reorganization and Restructuring(a) 6.8 21.7 Acquisitions and dispositions(a) 23.6 88.4 Tax on accelerated income(d) (7.3) (7.3) Argentina highly inflationary impact(a) 2.2 15.9 Internal loss(a) 5.5 16.9 Reporting compliance(a) - 2.0 Gain on lease termination(h) - (4.0) Income tax rate adjustment(b) 13.7 - Non-GAAP 60.5$ 199.0 EPS: GAAP (0.08)$ 0.55 Retirement plans(c) 0.39 0.71 Venezuela operations(g) - 0.02 Reorganization and Restructuring(a) 0.13 0.43 Acquisitions and dispositions(a) 0.46 1.73 Tax on accelerated income(d) (0.14) (0.14) Argentina highly inflationary impact(a) 0.04 0.31 Internal loss(a) 0.11 0.33 Reporting compliance(a) - 0.04 Gain on lease termination(h) - (0.08) Income tax rate adjustment(b) 0.27 - Non-GAAP 1.18$ 3.89 Depreciation and Amortization: GAAP 45.5$ 185.0 Reorganization and Restructuring(a) (0.1) (0.2) Acquisitions and dispositions(a) (7.1) (30.9) Argentina highly inflationary impact(a) (1.0) (1.8) Non-GAAP 37.3$ 152.1 2019

29 2019 Non-GAAP Results Reconciled to GAAP (3 of 3) Amounts may not add due to rounding The Brink’s Company and subsidiaries Non-GAAP Reconciliations (In millions) The 2022 Non-GAAP outlook amounts exclude certain forecasted Non-GAAP adjusting items, such as intangible asset amortization and U.S. retirement plan costs. We have not forecasted the impact of highly inflationary accounting on our Argentina operations in 2022 or other potential Non-GAAP adjusting items for which the timing and amounts are currently under review, such as future restructuring actions. We have also not forecasted changes in cash held for customer obligations or proceeds from the sale of property, equipment and inv estments in 2022. The 2022 Non-GAAP outlook amounts for operating profit, EPS from continuing operations, free cash flow before dividends and Adjusted EBITDA cannot be reconciled to GAAP without unreasonable effort. We cannot reconcile these amounts to GAAP because we are unable to accurately forecast the impact of highly inflationary accounting on our Argentina operations in 2022 or other potential Non-GAAP adjusting items for which the timing and amounts are currently under review, such as future restructuring actions. We are also unable to f orecast changes in cash held for customer obligations or proceeds from the sale of property, equipment and investments in 2022. a) See “Other Items Not Allocated To Segments” on slide 30 f or details. We do not consider these items to be reflective of our operating performance as they result from events and circumstances that are not a part of our core business. b) Non-GAAP income from continuing operations and non-GAAP EPS have been adjusted to reflect an effective income tax rate in each interim period equal to the full-year non-GAAP effective income tax rate. The full-year non-GAAP effective tax rate was 31.4% for 2019. c) Our U.S. retirement plans are frozen and costs related to these plans are excluded from non-GAAP results. Certain non-U.S. operations also have retirement plans. Settlement charges related to these non-U.S. plans are also excluded from non-GAAP results. d) The non-GAAP tax rate excludes the 2019 foreign tax benefits that resulted from the transaction that accelerated U.S. tax in 2015. e) Due to reorganization and restructuring activities, there was a $7.7 million non-GAAP adjustment to share-based compensation in 2019. There is no difference between GAAP and non-GAAP share-based compensation amounts for the other periods presented. f) Adjusted EBITDA is defined as non-GAAP income from continuing operations excluding the impact of non-GAAP interest expense, non-GAAP income tax provision, non-GAAP depreciation and amortization, non-GAAP share-based compensation and non-GAAP marketable securities (gain) loss. In the fourth quarter of 2020, we changed our definition of Adjusted EBITDA to exclude non-GAAP marketable securities (gain) loss and all previously disclosed information for all periods presented has been revised. g) Post-deconsolidation funding of ongoing costs related to our Venezuelan operations was $0.9 million in 2019 and was expensed as incurred and reported in interest and other nonoperating income (expense). We do not expect any future funding of the Venezuela business, as long as current U.S. sanctions remain in effect. h) Gain on termination of a mining lease obligation related to former coal operations. We have no remaining mining leases. i) There is no dif f erence between GAAP and non-GAAP marketable securities gain and loss amounts for the other periods presented. Q4 Full Year Adjusted EBITDA(f): Net income (loss) attributable to Brink's - GAAP (2.6)$ 29.0 Interest expense - GAAP 22.0 90.6 Income tax provision - GAAP 23.9 61.0 Depreciation and amortization - GAAP 45.5 185.0 EBITDA 88.8$ 365.6 Discontinued operations - GAAP (1.2) (0.7) Retirement plans(c) 25.8 47.3 Venezuela operations(g) - 0.9 Reorganization and Restructuring(a) 8.2 28.6 Acquisitions and dispositions(a) 16.6 56.8 Argentina highly inflationary impact(a) 1.2 12.7 Internal loss(a) 7.0 20.9 Reporting compliance(a) 0.1 2.1 Gain on lease termination(h) - (5.2) Income tax rate adjustment(b) - - Share-based compensation(e) 6.9 35.0 Marketable securities (gain) loss(i) 2.5 2.9 Adjusted EBITDA 155.9$ 566.9 2019

30 Non-GAAP Reconciliation – Other Amounts may not add due to rounding The Brink’s Company and subsidiaries Other Items Not Allocated to Segments (Unaudited) (In millions) Brink’s measures its segment results before income and expenses for corporate activities and for certain other items. See below for a summary of the other items not allocated to segments. Reorganization and Restructuring Management periodically implements restructuring actions in targeted sections of our business. As a result of these actions, w e recognized charges of $28.8 million in 2019, primarily severance costs and charges related to the modif ication of share-based compensation aw ards. Due to the unique circumstances around these charges, they have not been allocated to segment results and are excluded from non-GAAP results. Acquisitions and dispositions Certain acquisition and disposition items that are not considered part of the ongoing activities of the business and are special in nature are consistently excluded from non-GAAP results. These items are described below : 2019 Acquisitions and Dispositions • We incurred $43.1 million in integration costs related to Dunbar, Rodoban, COMEF and TVS in 2019. • Amortization expense for acquisition-related intangible assets w as $27.8 million in 2019. • Transaction costs related to business acquisitions w ere $7.9 million in 2019. • Restructuring costs related to acquisitions, primarily Rodoban and Dunbar, w ere $5.6 million in 2019. • In 2019, w e recognized $2.2 million in net charges, primarily asset impairment and severance costs, related to the exit from our top-up prepaid mobile phone business in Brazil. • Compensation expense related to the retention of key Dunbar employees w as $1.5 million in 2019. Argentina highly inflationary impact Beginning in the third quarter of 2018, w e designated Argentina's economy as highly inflationary for accounting purposes. As a result, Argentine peso-denominated monetary assets and liabilities are now remeasured at each balance sheet date to the currency exchange rate then in effect, w ith currency remeasurement gains and losses recognized in earnings. In addition, nonmonetary assets retain a higher historical basis w hen the currency is devalued. The higher historical basis results in incremental expense being recognized w hen the nonmonetary assets are consumed. In 2019, w e recognized $14.5 million in pretax charges related to highly inflationary accounting, including currency remeasurement losses of $11.3 million. These amounts are excluded from non-GAAP results. Internal loss A former non-management employee in our U.S. global services operations embezzled funds from Brink's in prior years. Except for a small deductible amount, the amount of the internal loss related to the embezzlement w as covered by our insurance. In an effort to cover up the embezzlement, the former employee intentionally misstated the underlying accounts receivable subledger data. In 2019, w e incurred $4.5 million in costs (primarily third party expenses) to reconstruct the accounts receivables subledger. In the third quarter of 2019, w e w ere able to identify $4.0 million of revenues billed and collected in prior periods w hich had never been recorded in the general ledger. We also identif ied and recorded $0.3 million in bank fees, w hich had been incurred in prior periods. The rebuild of the subledger w as substantially completed during the third quarter of 2019. Based on the reconstructed subledger, w e w ere able to analyze and quantify the uncollected receivables from prior periods. Although w e plan to attempt to collect these receivables, w e estimated an increase to bad debt expense of $13.7 million in the third quarter of 2019. The estimate of the allow ance for doubtful accounts w as adjusted in the fourth quarter of 2019 for an additional $6.4 million. This estimate w ill be adjusted in future periods, if needed, as assumptions related to the collectability of these accounts receivable change. At December 31, 2019, w e have recorded an allow ance of $19.2 million on $34.0 million of accounts receivable, or 56%. Due to the unusual nature of this internal loss and the related errors in the subledger data, along w ith the fact that management has excluded these amounts w hen evaluating internal performance, w e have excluded these net charges from segment and non-GAAP results. Reporting compliance Certain compliance costs (primarily third party expenses) are excluded from 2019 non-GAAP results. These costs relate to the implementation and January 1, 2019 adoption of the new lease accounting standard ($1.8 million in 2019) and the mitigation of material w eaknesses ($0.3 million in 2019).

31 Non-GAAP Reconciliation – Net Debt The Brink’s Company and subsidiaries Non-GAAP Reconciliations - Net Debt (Unaudited) (In millions) December 31, December 31, (In millions) 2020 2021 Debt: Short-term borrow ings $ 14.2 $ 9.8 Long-term debt 2,471.5 2,956.9 Total Debt 2,485.7 2,966.7 Less: Cash and cash equivalents 620.9 710.3 Amounts held by Cash Management Services operations(a) (19.1) (34.7) Cash and cash equivalents available for general corporate purposes 601.8 675.6 Net Debt $ 1,883.9 $ 2,291.1 a) Title to cash received and processed in certain of our secure Cash Management Services operations transfers to us for a short period of time. The cash is generally credited to customers’ accounts the follow ing day and w e do not consider it as available for general corporate purposes in the management of our liquidity and capital resources and in our computation of Net Debt. Net Debt is a supplemental non-GAAP financial measure that is not required by, or presented in accordance w ith GAAP. We use Net Debt as a measure of our f inancial leverage. We believe that investors also may f ind Net Debt to be helpful in evaluating our f inancial leverage. Net Debt should not be considered as an alternative to Debt determined in accordance w ith GAAP and should be review ed in conjunction w ith our consolidated balance sheets. Set forth above is a reconciliation of Net Debt, a non-GAAP financial measure, to Debt, w hich is the most directly comparable f inancial measure calculated and reported in accordance w ith GAAP, December 31, 2020 and December 31, 2021.