Company Overview

Investor Presentation
June 2009

- Company Confidential -
Forward-Looking Statements
Forward-Looking Statements

This presentation contains forward-looking statements regarding future events and

future performance of the Company that involve risks and uncertainties that could
materially affect actual results, including statements regarding estimated earnings,
revenues and costs and our ability to maintain growth and strengthen contract
relationships. Factors that could cause actual results to vary from current expectations
and forward-looking statements contained in this presentation include, but are not
limited to: (1) GEO’s ability to meet its 2009 earnings guidance; (2) GEO's ability to
pursue further growth and continue to enhance shareholder value; (3) GEO's ability to
access the capital markets in the future on satisfactory terms or at all; (4) risks
associated with GEO's ability to control operating costs associated with contract start-
ups; (5) GEO's ability to timely build and/or open facilities as planned, profitably manage
such facilities and successfully integrate such facilities into GEO's operations without
substantial costs; (6) GEO's ability to win management contracts for which it has
submitted proposals and to retain existing management contracts; (7) GEO's ability to
obtain future financing at competitive rates; (8) GEO's ability to sustain company-wide
occupancy rates at its facilities; and (9) other factors contained in GEO's Securities and
Exchange Commission filings, including the forms 10-K, 10-Q and 8-K reports.

2
 Company Profile

‹ Three Business Units: LTM (Mar-09) Operating Revenue:

- U.S. Corrections $970 Million2
- International Services
International
- Mental Health – GEO Care Services
12%
‹ 27 government clients
(21 U.S., 6 Int’l) GEO Care
12%
‹ 62 facilities (55 U.S., 7 Int’l)1

‹ 60,000 beds1 Under Management

‹ Presence in United States, Australia,

South Africa and United Kingdom U.S.
Corrections
76%
(1) Facility & Bed Count Includes GEO Projects Under Development & Non
GEO-Managed Facilities: Mesa Verde Correctional Facility & Delaney Hall.
(2) Operating Revenue Excludes Pass-Through Construction Revenues. 3
 Strong Visible Financial Growth
¾ Three
Business Units: U.S. Corrections, International Services, and
GEO Care

¾ Strong Business Demand for Private Beds

¾ Multi-year Contracts, Typically with Annual Pricing Escalators

¾ 5,900 Beds Activated in 2008

¾ 6,800 Beds Under Development for Completion Between 2009 and

2010

¾ 82% of EBITDA from Owned/Leased Facilities

¾ High Client Retention, in Excess of 90%

¾ No Receivable Concerns; Government Clients Required by Law

to Pay On Time 4
 Company Milestones

Key Milestones Revenue

1984 Started as a division of The Wackenhut Corp. −

1986 First contract awarded in Aurora, CO by Immigration Service $2M

1994 IPO ($17 M) $84M

1996 Secondary Offering ($48 M) and 2-for-1 Stock Split $183M

1998 Established CentraCore Properties Trust (CPT) $313M

2002 Wackenhut sold to Group 4 Falck with 12 M GEO shares $502M

2003 GEO purchases 12 M shares ($132 M) from Group 4 Falck $549M

2005 Acquired CSC for approximately $200 M $613M

2006 Secondary equity offering ($100 M) and 3-for-2 Stock Split $861M

2007 Acquired CPT for approximately $427 M $1,025M

2007 Secondary equity offering ($227 M) and 2-for-1 Stock Split $1,025M
5
Experienced, Proven Management Team
GEO’s management team includes industry pioneers with the top 3
executives having over 60 years of combined industry experience

Position Age Yrs at GEO

George Zoley Chairman, CEO, and Founder 59 28

Wayne Calabrese Vice Chairman, President and COO 58 20

Jerry O'Rourke Senior Vice President and CFO 58 18

John Hurley President, U.S. Corrections 62 10

John Bulfin SVP and General Counsel 55 9

Jorge Dominicis President, GEO Care 46 5

Tom Wierdsma SVP, Project Development 59 2

Brian Evans VP, Finance, Treasurer and CAO 41 8
Pablo Paez Director, Corporate Relations/IR 28 6

6
 Growing U.S. Prison Population

Total Inmates in U.S. Custody

Inmate Population (MM)

2.50 2.31
2.26 2.29
% 2.14 2.19
r C AG R: 5 2.08
20-Yea 1.89 1.94
1.96 2.02
2.00 1.82
1.74
1.59 1.65
1.47
1.50 1.36
1.22 1.29
1.11 1.15
0.97
1.00

0.50

0.00
'88 '89 '90 '91 '92 '93 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 Mid
'08

Inmates held in
Inmates held in privately operated
State & Federal facilities
public facilities 8.0%
92.0% (126,249 Beds)

Source: Bureau of Justice Statistics (Mid-Year 2008) 7

 Growing U.S. Prison Population

¾One in every 31 U.S. adult residents is

currently under correctional
supervision

¾Between probation, parole, jail, and

prison, the U.S. correctional population
exceeds 7.3 million people

Source: Bureau of Justice Statistics (2007) 8

 Growth Drivers Fueling Privatized Corrections

FEDERAL MARKET STATE MARKET

ƒ24 States Operating Over Capacity
Criminal Alien Undocumented
Detention Alien Detention ƒPrison Populations to keep rising
over the next five years

2/3 of GEO Alien 1/3 of GEO Alien

Population Population

Need for more private prison beds

Private prison operators alleviate overcrowding through the provision of

outsourced capacity at a lower cost and with lower capital investment

9
Sources: Bureau of Justice Statistics & Pew Research Report (2007 & 2008).
 Federal Prison Market

61,000 Private Federal Beds = 21% of all Federal Beds

An Increase of approximately 1500% from 3,828 Beds in 1999

220,000 24,000 Private Beds

200,000 12%

180,000
160,000
140,000
120,000
100,000
20,500 Private Beds
80,000 33%
60,000 16,500 Private Beds
40,000 52%
20,000
0
ICE USMS BOP

Population in Public Facilities Population in Private Facilities

10
Source: The GEO Group, Inc. (2008)
 Significant Share of U.S. Private Market

U.S. Private Federal Market Share = 61,000 Beds

Others
LCS Corrections
2,744 beds
1,090 Beds
4%
CEC/ 2% CCA
Civigenics 20,466 Beds
1,437 Beds 34%
2%

Cornell
6,109 Beds
10%
MTC
9,799 Beds
16%

GEO
19,541 Beds
32%
11
Source: The GEO Group, Inc. (2008)
 Significant Share of U.S. Private Market

U.S. Private Correctional Market Share

Avalon
Emerald Co. 1% Total = 214,000 beds
Other
2%
1%
LCS Corrections
3%
CCA
CEC/ 41%
Civigenics
6%
MTC
7%

Cornell
14%

GEO
25%
Source: The GEO Group, Inc. (2008) 12
 Leading U.S. Operator

With 60,000 beds, GEO represents the 7th largest U.S. correctional system

180,000
160,000
140,000
120,000
100,000
80,000
60,000
40,000
20,000
0
8) 0) 1) 8) 0) 1) 0) ) 9)
0 , 12
,4 3
, 3 8 , 4 6 , 00 , 21 0 0 4 82 1 7 0)
68 53 , , 0 8
( 17 (1 (1 a (91 (88
k ( 62 (60 (50
( 49, (4 8,
r nia e ral x a s
o r id C CA Y or G E O
i gan hi o rgia
li f o d e F l w h O o
Ca Fe T
Ne Mi
c Ge
Note: State and Federal correctional bed figures do not include beds under private management. GEO facility
& bed counts include projects under development

Source: Bureau of Justice Statistics (Mid-Year 2008) & The GEO Group, Inc. 13
Full Service Outsourcing Solutions Provider

Delivering Complete Turnkey Solutions Globally

Design Finance
‹ In house architectural ‹ Public bonds
and construction team ‹ 3rd party ownership
‹ Proven efficient designs ‹ Company
Design
Finance

Build Manage
‹ Strong relationships ‹ Administration
with experienced Build ‹ Security
builders ‹ Rehabilitation
Manage
‹ $2 Billion of completed ‹ Health services
projects
‹ Food services
‹ Track record of on time,
‹ Significant cost
on budget delivery
savings
‹ Significant cost savings
14
Strong Regional U.S. Platform

15
 International Operations

475 Beds - 2 Facilities 3,024 Beds - 1 Facility

& 360 Expansion Beds

2,532 Beds - 4 Facilities

2. Harmondsworth Immigration Removal Centre, England

16
 International Prisoner Populations

Number of Inmates Held in Private Facilities

6,000 Inmates in
220,000 Private Facilities
200,000 3.0%
180,000
160,000
140,000
8,300 Inmates in
120,000
Private Facilities
100,000 10.5%
80,000 4,300 Inmates in
60,000 Private Facilities
40,000 17.0%
20,000
0
Australia United Kingdom South Africa

Prisoners in Public Facilities Prisoners in Private Facilities

Source: The GEO Group, Inc. 17
GEO Care - Target Market

Over 220 state and county mental health hospitals with 57,000 beds:
$6.0 billion target market

State & County Mental Health Hospitals

Others*
VA Medical Centers 19% 27%
5% GEO Care
Target Market

Residential Centers
For Disturbed Children
18%
Non-Federal General Hospitals Private Psychiatric
Psychiatric Services Hospitals
19% 12%

Source: Center for Mental Health Services (2004).

* Includes freestanding psychiatric outpatient clinics, partial care and multiservice mental health organizations.

18
GEO Care - Facility Operations
2005 G&A investments have resulted in new contract awards

Facility Bed Count Annual Revenues

South Fla. State Hospital 335 $ 36.0 Million
South Fla. Evaluation & Treatment Ctr. 238 $ 26.0 Million
Florida Civil Commitment Center 720 $ 26.0 Million
Palm Beach County Jail Mental Health N/A $ 3.0 Million
Treasure Coast Forensic Treatment Center 223 $ 24.0 Million
1,516 $115.0 Million

GEO Care manages the 335-Bed South Florida State

Hospital, located in Pembroke Pines, Fla., under contract
with the Florida Department of Children and Families.

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 Long-Term High Quality Customer Relationships
2008 Operating Revenues By Customer
Virginia South Africa Federal
2% 2% U.K.
Louisiana Government
2% 1% US Marshals
14% 33%
Indiana
ICE
3%
13%

Mississippi Bureau of
3% Prisons
Oklahoma 6%
4%

California
5%

New Mexico Florida

5% Arizona Texas Australia 19%
5% 6% 10%

ƒ Higher margin, longer term Federal contracts represent approx. one-third of total revenues
ƒ Over 20 year relationship with the Federal government
ƒ Average 17-year relationship with top five customers
20
ƒ Market leader in Florida, New Mexico, Oklahoma, and California
 U.S. Corrections Facility Ownership – 52 Facilities

Facility Ownership 2009E Facility EBITDA*

GEO Controlled Gov’t Controlled GEO Controlled Gov’t Controlled

63% 37% 82% 18%

Government
Leases Government
Controlled Leases
12 Facilities Controlled
19 Facilities 15%
23% 18%
37%

Owned
Owned
21 Facilities
67%
40%

Analysis of Facility Count Includes Projects Under Development & CPT Non Managed Facilities 21
* Facility EBITDA Does Not Include GEO’s Idle Facilities or New Construction Projects
 Key Financial Statistics

OPERATING REVENUES 1
$ In Millions

$1,100 5% 7% $1,020.0
R =1
CAG $957.1
R
5 -Y
$867.5
$900
$744.3
$700
$580.4

$500
2005 2006 2007 2008 2009E
1. Operating Revenues Exclude Pass-Through Construction Revenues.
* Adjusted for Discontinued Operations.
Note: 2009E financial information is based on mid-point of GEO’s financial guidance 22
Key Financial Statistics

EBITDA 1
$ In Millions

67% 12%
$200 A GR= $174.0
C $156.0
5-YR
$150 $120.9

$100 $82.4

$50 $22.4

$0
2005 2006 2007 2008 2009E

1. EBITDA = Income from Continuing Ops + Net Interest Expense + Income Taxes + D&A
* Adjusted for Discontinued Operations.
Note: 2009E financial information is based on mid-point of GEO’s financial guidance 23
Key Financial Statistics

GAAP NET INCOME

$ In Millions
16% $68.5
$70 77%
GR= $58.9
A
$60 -YRC
5
$50 $41.8
$40 $30.0
$30
$20
$7.0
$10
$0
2005 2006 2007 2008 2009E

Note: 2009E financial information is based on mid-point of GEO’s financial guidance

24
 Key Financial Statistics

GAAP EPS 1

$1.50 55%
R = 16% $1.32
CAG
5-YR $1.14

$1.00
$0.84 $0.85

$0.50
$0.23

$0.00
2005 2006 2007 2008 2009E

1. Adjusted for October 2, 2006 3-for-2 and June 1, 2007 2-for-1 stock splits.

Note: 2009E financial information is based on mid-point of GEO’s financial guidance 25

 Key Financial Statistics

ADJUSTED FREE CASH FLOW

$ In Millions

$120 11% $105.0

%
R = 56 $94.5
AG
$100 5-Y
R C

$80 $68.7
$60 $44.1
$40
$17.9
$20
$0
2005 2006 2007 2008 2009E
* Adjusted for Discontinued Operations.
Adjusted Free Cash Flow Does Not Exclude the Impact of Start-Up Expenses & Int’l Bid Costs
26
Note: 2009E financial information is based on mid-point of GEO’s financial guidance
Strong Balance Sheet

Accordion Execution in 2008 increased GEO’s borrowing capacity

and improved GEO’s financial flexibility and liquidity
($ In Millions) As of March 29, 2009

Cash $ 60
Recourse Debt * Maturity Date
Term Loan (LIBOR + 1.50%) $ 154 January 2014
Revolver (LIBOR + 2.00%) $ 84 September 2010
Senior Unsecured Notes (8.25%) $ 150 July 2013
Total Senior Debt $ 388

Non Recourse Debt * $ 96

Total Debt $ 484

Total Net Senior Debt/Adjusted EBITDA (1) 2.1X

(1) Excludes Non Recourse Debt & Capital Lease Liability Balances;
Based on GEO's 2008 EBITDA of $156 Million
* Excludes Current Portion of Long-Term Debt and Non-Recourse Debt 27
Federal Budget Update

ƒ Three Federal Clients (ICE, Marshals Service, and BOP)

Generate Approximately 50% of GEO’s EBITDA.

ƒ GEO’s 2009 Guidance Reflects 24% Increase in Federal

EBITDA driven by additional beds activated in late 2008 and
early 2009.

ƒ 2009 Omnibus Bill and 2010 Proposed Federal Budget Fully

Fund all Three Detention Agencies.

ƒ Detention and Removal of Criminal Aliens Through ICE’s

Secure Communities Initiative will Expand Under Proposed
Federal Budget.

28
State Budget Update

ƒ State Correctional EBITDA Represents Approximately One-

Third of GEO’s EBITDA.

ƒ State Correctional EBITDA increasing 5% in 2009 driven by

additional beds in New Mexico, Mississippi, Florida, and
Indiana.

ƒ GEO’s 2009 guidance assumes mostly flat per diem rates from
GEO’s state clients, with three states required to pay a CPI
increase

ƒ GEO is not exposed to any out-of-state prisoner populations.

ƒ State budget deficits can create pressure on existing per diem

rates, but also create more interest to privatize new prison
projects.
29
Growth – Pipeline Projects
In Number of Beds except Annual Ops Revenues
Intended Beds Under Annual Ops Exp. Opening Proposal Int'l GEO
Facility Location Client Ownership Development Revenues Date Pipeline Markets Care
Clayton County Expansion Ga. USMS Leased 192 = $4M Jan-09
Broward Expansion Fla. ICE Owned 294 = $7M Apr-09
Harmondsworth Immigration Ctr. U.K. U.K. Managed 260 = $14M Jul-09
Graceville CF Expansion Fla. FL DOC Managed 384 = $5M Jul-09
North Lake CF + Expansion Mich. Fed/State Owned 1,725 = TBD Jan-10
Tacoma Expansion Wash. ICE Owned 545 = TBD Jan-10
Aurora Processing Center Exp. Col. Federal Owned 1,100 = TBD Jan-10
Harmondsworth Expansion U.K. U.K. Managed 360 = $6M Jul-10
Santa Rosa Co. Prison Fla. FL DOC Managed 2,000 = $48M Jul-10
BOP CAR 9 U.S. 1,700
BOP CAR 10 U.S. 3,800
ICE Southern California Beds Calif. 2,200
Georgia DOC Prison Ga. 1,000
Additional State Requirements Fla., Okla., Idaho, Cal., Va., Ariz., etc. 15,000
Additional U.K. Prison Beds U.K. 7,500
South Africa Prison Beds South Africa 12,000
GEO Care Opportunities U.S. 950
TOTAL 6,860 = $84M 23,700 19,500 950

* Annual Operating Revenues represent annualized estimate at full occupancy 30