Fidelity National Information Services, Inc. · NYSE:FIS
Fidelity National Information Services — Q2 2026 Earnings Presentation
40 slides from Fidelity National Information Services's earnings presentation, Aug 4, 2026
Slide 1: Second Quarter 2026 Earnings Call
Second Quarter 2026 Earnings Call August 4, 2026 Confidential and Proprietary
Slide 2: Speakers
Speakers Second Stephanie Ferris 1 Quarter Chief Executive Officer and President Highlights Financial James Kehoe 2 Results & Outlook Chief Financial Officer 2
Slide 3: Disclosures
Disclosures Forward-looking Statements Our discussions today, including this presentation and any comments made by management, contain “forward-looking statements” within the meaning of the U.S. federal securities laws. Any statements that refer to future events or circumstances, including our futur
Slide 4: Second Quarter Highlights
KIS Second Quarter Highlights
Slide 5: Second Quarter 2026 Highlights
Second Quarter 2026 Highlights KEY DIFFERENTIATORS FINANCIAL RESULTS HIGHLIGHTS Technology at Scale +5.3% Pro Forma • Recurring revenue growth of 5% Revenue Growth(1) across Banking & Capital Markets Global Distribution & • Commercial momentum Marquee Client Base 41.7% Adjusted EBITDA with +14% recu
Slide 6: Unified Value Proposition Across Two Segments
Unified Value Proposition Across Two Segments $ 6.5B 83% 40.7% 1H 2026 Revenue 1H Recurring Revenue 1H 2026 Adj. EBITDA Margin Banking Solutions Capital Markets Total1 Banking Payments Capital Markets Ledgers Digital Consumer Lending Network Money Movement Treasury Commercial Lending Payments / VAS
Slide 7: Compelling Proof Points Across Total Issuing Solutions
Compelling Proof Points Across Total Issuing Solutions Commercial Momentum Foundational Strength LFI Value Proposition New LFI wins Implementation at scale LFI sweet spot Top 10 Latin American bank ~30M New accounts converted ~85%+ Win rate when 1M+ over the last twelve months accounts Private secto
Slide 8: Large, Diversified Global Capital Markets Segment
Large, Diversified Global Capital Markets Segment CAPITAL MARKETS $ 1.6B 74% 51.7% 1H 2026 Revenue 1H Recurring Revenue 1H 2026 Adj. EBITDA Margin Treasury and Risk Lending Trading & Asset Services 1H Revenue $0.5B $0.2B $0.8B 1H Revenue Growth 10.2% 13.2% (3.9%) 1H Recurring Revenue Growth 3.1% 5.1
Slide 9: Measurable Progress Across All Tenets of Our AI Strategy
Measurable Progress Across All Tenets of Our AI Strategy Product Technology Servicing People Anthropic Early proof points on 2x pilots 200+ 1.5-2x ~70% 40k+ 95% Customers live on AI Target Target Accuracy on products AI engineering throughput Decline in Active AI copilot users alert escalations manu
Slide 10: Fundamental Focus Into the Second Half
Fundamental Focus Into the Second Half 1 2 3 Focus on Total Issuing AI Building Capital Markets Execution Blocks Continued progress Execution against a Execution momentum across product strong demand, healthy validating investment development and backlog and record thesis enterprise adoption pipelin
Slide 11: Financial Results & Outlook
Financial Results & Outlook 11
Slide 12: 2Q 2026 Financial Results - FIS
2Q 2026 Financial Results - FIS Metrics Growth vs Prior Year 2Q ($ millions, except per share data) Results Adjusted(1) Pro Forma(2) Total Debt $21.2B Total Revenue $3,377 31.2% 5.3% Adj. EBITDA $1,409 35.3% 7.4% Leverage Ratio(3) 3.5x Adj. EBITDA Margin 41.7% 193 bps 113 bps Adj. EPS $1.48 8.8% Cap
Slide 13: 2Q 2026 Financial Results - Banking Solutions
2Q 2026 Financial Results - Banking Solutions Growth vs Prior Year 2Q ($ millions) Results Adjusted Pro Forma Highlights Banking $1,003 5.6% 5.6% • Revenue growth of 6.1%; M&A ~110 bps Payments $1,479 91.3% 6.4% • Steady recurring growth of 5.0% Total Revenue $2,483 44.0% 6.1% • Non-recurring revenu
Slide 14: 2Q 2026 Financial Results - Capital Markets
2Q 2026 Financial Results - Capital Markets Growth vs Prior Year 2Q ($ millions) Results Adjusted Pro Forma Highlights • Recurring revenue growth accelerated Total Revenue $810 3.2% 3.2% to 5.3%, in-line with expectations Adj. EBITDA $420 2.8% 2.8% • M&A contribution of ~105 bps; offset by license s
Slide 15: YTD 2026 Financial Results - FIS
YTD 2026 Financial Results - FIS Growth vs Prior Year Metrics YTD Highlights ($ millions, except per share data) Results Adjusted(1) Pro Forma(2) Banking $4,857 44.0% 6.9% • Revenue growth of 6%, with solid Capital Markets $1,633 3.1% 3.1% recurring growth of 5% Total Revenue(3) $6,671 31.0% 5.9% •
Slide 16: Updated FY 2026 Outlook
Updated FY 2026 Outlook 2026 Growth vs Prior Year P&L Metrics ($ millions, except per share data) Outlook Adjusted Pro Forma FY 2026 Comments Revenue $13,630 - $13,695 29% - 30% 4.5% - 5.0% • Banking tracking in-line with Banking Solutions - 42% - 43% 5.0% - 5.5% expectations; M&A ~60 bps Capital Ma
Slide 17: Raising 2026 Free Cash Flow Outlook
Raising 2026 Free Cash Flow Outlook Strong Cash Management + Faster Reduction in 1x Non-GAAP Cash Expenses FCF YoY Growth ~25% (1) 2025 - 2028 CAGR FCF >$3.0B 27% - 33% 33% - 39% +19% $2.15 - $2.25B $2.05 - $2.15B $1.6B TTM FCF: $2.2B 2025 2026 (Prior) 2026 (Current) 2028 INCREASED CONFIDENCE IN 202
Slide 18: FIS Non-GAAP Cash Expenses
FIS Non-GAAP Cash Expenses Total Issuing Solutions(1) $ millions FIS $790 - $810 $720 - $740 Highlights $250 - $260 $270 - $280 $562 • Ahead of schedule on reducing Non- $51 GAAP Cash Expenses by $70M $540 - $550 $511 • 17% reduction in legacy FIS Non-GAAP $450 - $460 Cash Expenses • Targeting meani
Slide 19: Total Issuing Solutions Integration Update
Total Issuing Solutions Integration Update 2026 Progress vs. Long Term Targets 2026 2028 ~$40M >$150M Cost Synergies Adj. EBITDA Synergies • YTD Realized: ~$13M • Cost synergies of $125M • Tracking to high end of $30 - $40M target • Revenue synergies of $45M • Expect modest revenue synergies • Long-
Slide 20: 3Q 2026 Outlook
3Q 2026 Outlook 3Q 2026 Growth vs Prior Year ($ millions, except per share data) Outlook Adjusted Pro Forma 3Q 2026 Comments Revenue $3,415 - $3,445 28% - 29% 2.9% - 3.7% • Steady Banking recurring growth on an organic basis Banking Solutions - 40% - 41% 3.0% - 4.0% • Banking impacted by timing of C
Slide 21: Financial Summary
Financial Summary • Solid 2Q performance across most metrics • Banking outlook in-line; decreasing Capital Markets • Margin outlook broadly in-line with prior outlook • Raising Free Cash Flow(1) outlook to $2,150 - $2,250, increasing 33% - 39% YoY 21 (1) Defined as Free cash flow excluding cash tran
Slide 22: Appendix
KIS Appendix 22
Slide 23: 3Q & FY 2026 Outlook – Additional Assumptions
3Q & FY 2026 Outlook – Additional Assumptions $ millions FY OUTLOOK 3Q OUTLOOK F/X Impact to Revenue ~$40 ~($5) Corporate and Other Revenue ~$345 $75 - $80 Interest Expense ~$785 $200 - $205 Effective Tax Rate ~11.2% ~10.3% Shares Outstanding ~517M ~517M Depreciation and Amortization ~$1,375 ~$345 N
Slide 24: Pro Forma Historical Disaggregation of Revenue
Pro Forma Historical Disaggregation of Revenue 2025 2026 ($ millions) 1Q 2Q 3Q 4Q FY 1Q 2Q Recurring 1,950 2,015 2,092 2,099 8,156 2,073 2,121 Other Non-Recurring 138 171 191 190 690 218 207 Professional Services 143 149 168 157 617 138 155 Banking Solutions Revenue $2,231 $2,335 $2,451 $2,446 $9,46
Slide 25: Pro Forma Historical Disaggregation of Revenue – Growth Rates
Pro Forma Historical Disaggregation of Revenue – Growth Rates 2025 2026 ($ millions) 1Q 2Q 3Q 4Q FY 1Q 2Q Recurring 3.5% 4.9% 5.4% 6.8% 5.1% 5.2% 5.0% Other Non-Recurring 6.3% 13.7% 22.0% 34.6% 19.4% 58.1% 21.0% Professional Services (7.3)% (8.1)% 5.0% (9.8)% (5.2)% (5.8)% 3.3% Banking Solutions Rev
Slide 26: Pro Forma Historical Financials
Pro Forma Historical Financials 2024 2025 2026 ($ millions) FY 1Q 2Q 3Q 4Q FY 1Q 2Q Banking Solutions $8,951 $2,231 $2,335 $2,451 $2,446 $9,463 $2,429 $2,483 Banking 3,639 951 949 1,019 1,027 3,946 1,054 1,003 Payments 5,312 1,280 1,386 1,432 1,419 5,517 1,375 1,479 Capital Market Solutions 3,039 78
Slide 27: 2026 Supplemental Cash Information
2026 Supplemental Cash Information ($ millions) 1Q Results 2Q Results FY Outlook FIS Excluding Total Issuing Solutions $99 $82 $450 - $460 Total Issuing Solutions 34 41 230 - 240 Total Acquisition, Integration and Other Non-GAAP $133 $123 $680 - $700 Cash Expenses Settlement Activity 19 (4) N/A(1) T
Slide 28: Forward-Looking Statements
Forward-Looking Statements This earnings presentation and today’s webcast contain “forward-looking statements” within the meaning of the U.S. federal securities laws. Statements that are not historical facts, as well as other statements about our expectations, beliefs, intentions, or strategies rega
Slide 29: Forward-Looking Statements
Forward-Looking Statements • the risk that partners and third parties may fail to satisfy their legal obligations to us; • the risks associated with managing pension cost, cybersecurity issues and IT outages experienced; • our ability to navigate the opportunities and risks associated with using and
Slide 30: FIS Use of Non-GAAP Financial Information
FIS Use of Non-GAAP Financial Information Generally Accepted Accounting Principles (GAAP) is the term used to refer to the standard framework of guidelines for financial accounting in the United States. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizi
Slide 31: Reconciliation of GAAP to Non-GAAP Financials
Reconciliation of GAAP to Non-GAAP Financials THREE MONTHS ENDED JUNE 30, 2026 BANKING CAPITAL MARKET OPERATING SEGMENT CORPORATE AND CONSOLIDATED SOLUTIONS SOLUTIONS TOTAL OTHER FIS Revenue $2,483 $810 $3,293 $84 $3,377 FX (6) (2) (8) (1) (9) Constant Currency Revenue $2,476 $809 $3,285 $83 $3,368
Slide 32: Reconciliation of GAAP to Non-GAAP Financials
Reconciliation of GAAP to Non-GAAP Financials SIX MONTHS ENDED JUNE 30, 2026 BANKING CAPITAL MARKET OPERATING SEGMENT CORPORATE AND CONSOLIDATED SOLUTIONS SOLUTIONS TOTAL OTHER FIS Revenue $4,857 $1,633 $6,490 $181 $6,671 FX (31) (14) (45) (2) (47) Constant Currency Revenue $4,826 $1,619 $6,445 $179
Slide 33: Reconciliation of GAAP to Non-GAAP Financials
Reconciliation of GAAP to Non-GAAP Financials THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, 2026 JUNE 30, 2026 Net cash provided by operating activities $493 $1,207 Capital expenditures (256) (517) Free cash flow 237 690 Cash transaction taxes on the Worldpay Sale 288 309 Free cash flow excluding cas
Slide 34: Reconciliation of GAAP to Non-GAAP Financials
Reconciliation of GAAP to Non-GAAP Financials THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, 2026 2025 2026 2025 Net earnings (loss) attributable to FIS from continuing operations $231 $(470) $2,598 $(393) Provision (benefit) for income taxes 63 10 170 93 Interest expense, net 200 110 397 190
Slide 35: Reconciliation of GAAP to Non-GAAP Financials
Reconciliation of GAAP to Non-GAAP Financials THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, 2026 2025 2026 2025 Earnings (loss) attributable to FIS $231 $(470) $2,598 (393) Equity method investment (earnings) loss, net of tax - 598 (2,214) 669 Earnings (loss) attributable to FIS, excluding e
Slide 36: Reconciliation of GAAP to Non-GAAP Financials
Reconciliation of GAAP to Non-GAAP Financials THREE MONTHS ENDED JUNE 30, 2026 2025 Earnings (loss) attributable to FIS $0.45 $(0.89) Equity method investment (earnings) loss, net of tax - 1.13 Earnings (loss) attributable to FIS, excluding equity method investment earnings (loss) $0.45 $0.24 Non-GA
Slide 37: Reconciliation of GAAP to Non-GAAP Financials
Reconciliation of GAAP to Non-GAAP Financials SIX MONTHS ENDED JUNE 30, 2026 2025 Earnings (loss) attributable to FIS $5.03 $(0.74) Equity method investment (earnings) loss, net of tax (4.28) 1.26 Earnings (loss) attributable to FIS, excluding equity method investment earnings (loss) $0.74 $0.52 Non
Slide 38: Notes to Unaudited – Supplemental GAAP to Non-GAAP Reconciliations
Notes to Unaudited – Supplemental GAAP to Non-GAAP Reconciliations (1) This item represents purchase price amortization expense on all intangible assets acquired through various Company acquisitions, including customer relationships, contract value, technology assets, trademarks and trade names. The
Slide 39: Notes to Unaudited – Supplemental GAAP to Non-GAAP Reconciliations
Notes to Unaudited – Supplemental GAAP to Non-GAAP Reconciliations THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, 2026 2025 2026 2025 Continuing Operations: M&A transaction and integration expenses $63 $71 118 102 Enterprise transformation initiatives 172 64 265 178 Other 2 17 3 26 Subtotal 2
Slide 40: Notes to Unaudited – Supplemental GAAP to Non-GAAP Reconciliations
Notes to Unaudited – Supplemental GAAP to Non-GAAP Reconciliations THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, 2026 2025 2026 2025 FIS’ share of Worldpay: Purchase accounting amortization - $158 14 316 Acquisition, integration and other costs (a) - 36 4 85 Non-operating (income) expense -
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