VSE Corporation Investor Presentation — March 2021

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Fourth Quarter & Full -Year 2020 Results Conference Call

5 March 2021R A I S E T H E B A R

2This presentation contains statements that, totheextent they arenotrecitations ofhistorical fact, constitute "forward looking statements" within themeaning ofSection 27A

oftheSecurities Actof1933 ,asamended (the “Securities Act”), and Section 21EoftheExchange Act.Allsuch statements areintended tobecovered bythesafe harbor

provisions forforward -looking statements contained inthe Private Securities Litigation Reform Act of1995 and includes this statement forpurposes ofsuch safe harbor

provisions .“Forward -looking” statements, assuch term isdefined bytheSEC initsrules, regulations and releases, represent VSE Corporation’s (the “Company”) expectations

orbeliefs, including, butnotlimited to,statements concerning itsoperations, economic performance, financial condition, growth and acquisition strategies, investments and

future operational plans .Without limiting thegenerality oftheforegoing, words such as“may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “forecast,” “seek,” “plan,”

“predict,” “project,” “could,” “estimate,” “might,” “continue,” “seeking” orthe negative orother variations thereof orcomparable terminology are intended toidentify

forward -looking statements .

These statements speak only asofthe date ofthis presentation and the Company undertakes noongoing obligation, other than that imposed bylaw, toupdate these

statements .These statements appear inanumber ofplaces inthis presentation, and relate to,among other things, theCompany’s intent, belief orcurrent expectations with

respect to:itsfuture financial condition, results ofoperations orprospects ;ourbusiness and growth strategies ;and ourfinancing plans and forecasts .You arecautioned that

any such forward -looking statements arenot guarantees offuture performance and involve significant risks and uncertainties, and that actual results may differ materially

from those contained inorimplied bytheforward -looking statements asaresult ofvarious factors, some ofwhich areunknown, including, without limitation thefactors

identified intheCompany’s reports filed orexpected tobefiled with theSEC including itsAnnual Report onForm 10Kfortheyear ended December 312020 .Forward -Looking Statements

Non -GAAP Financial Measures

Inaddition tothe financial measures prepared inaccordance with generally accepted accounting principles (GAAP), this document also contains Non-GAAP financial

measures .Weconsider Adjusted Net Income, Adjusted EPS (Diluted), EBITDA, Adjusted EBITDA, trailing -twelve month Adjusted EBITDA, netdebt and free cash flow (FCF) as

non-GAAP financial measures and important indicators ofperformance and useful metrics formanagement and investors toevaluate our business’s ongoing operating