Slide 1: Diebold 3Q 2023 – 4Q 2025 Forecast
Diebold 3Q 2023 – 4Q 2025 Forecast (1) $ in millions 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Revenue $638.6 $1,026.6 $816.0 $919.8 $934.5 $1,062.6 $835.3 $942.0 $957.1 $1,088.8 Gross Profit $161.4 $274.6 $186.1 $224.6 $240.6 $290.0 $190.9 $230.7 $247.1 $298.1 (-) Operating Expenses (103.0)
Slide 2: Disclaimer
Disclaimer General: This presentation, any other material accompanying this presentation and the information contained in the foregoing (collectively, the “Materials”) have been prepared by Diebold Nixdorf, Inc. (the “Company”) for the exclusive use of the party to whom the Company or its Representa
Slide 3: Diebold Nixdorf, Inc., et al Valuation Analysis May 2023
Diebold Nixdorf, Inc., et al Valuation Analysis May 2023 Ducera
Slide 4: Table of Contents
Table of Contents I. Introduction 3 II. Diebold Nixdorf Overview 7 III. Valuation Analysis 19 i. Executive Summary 20 ii. Historical Trading Values 23 iii. Public Peer Analysis 26 iv. Discounted Cash Flow Analysis 30 v. Precedent Transactions Analysis 35 IV. Value Waterfall and Creditor Recoveries 3
Slide 5: I. Introduction
I. Introduction 3 Ducera
Slide 6: Executive Summary
Executive Summary § In March 2023, Diebold Nixdorf, Inc. (“Diebold”) retained Ducera Partners LLC (“Ducera”) to: Ducera was engaged by Diebold in March – Familiarize itself with the business, operations, properties, financial condition, prospects, and capital 2023 to provide structure of Diebold str
Slide 7: Ducera’s Qualifications
Ducera’s Qualifications § Ducera is an investment banking firm specializing in providing leading-edge capital structure and restructuring advice to companies, creditors, and investors in bankruptcy § Ducera provides a broad range of corporate and financial services to its clients, including: general
Slide 8: Discussion of Assumptions, Qualifications, and Limitations
Discussion of Assumptions, Qualifications, and Limitations § In its valuation analysis Ducera has assumed and relied upon, without undertaking any independent verification of the following: – The accuracy and completeness of all of the financial and other information supplied or otherwise made avail
Slide 9: II. Diebold Nixdorf Overview
II.Diebold Nixdorf Overview 7 Ducera
Slide 10: Diebold Overview
Diebold Overview § Diebold is a leading manufacturer of hardware and Diebold is a global 2022A Revenue Breakdown software solutions for self-service banking and manufacturer of 9% retail with a core competency in ATMs, self- hardware and software checkout machines (“SCO”), and electronic point- 30%
Slide 11: Investment Highlights & Considerations
Investment Highlights & Considerations § Diebold is a global leader in ATMs, SCO, and EPOS products and related service offerings Despite recent macroeconomic § Since the 2016 merger with Wincor-Nixdorf, Diebold’s performance has been overshadowed by an headwinds and short- unsustainable capital str
Slide 12: Historical EBITDA to Cash Conversion
Historical EBITDA to Cash Conversion § Prior to 2022, Diebold consistently generated between $300-$400+ million Adjusted EBITDA annually Restructuring charges and one-time expenses § However, in each year, Adjusted EBITDA was buoyed by significant non-cash add-backs of $100-$400+ have weighed on mil
Slide 13: Summary of Historical Restructuring & Transformation Costs
Summary of Historical Restructuring & Transformation Costs From 2018 – 2022, Historical Restructuring, Transformation, and Non-Routine Expenses Diebold incurred ($ in millions) ~$580 million and Restructuring and Transformation Breakout 2018 2019 2020 2021 2022 ~$620 million of Restructuring and Sev
Slide 14: Historical Financial Performance Overview
Historical Financial Performance Overview § At the time of the 2016 Wincor-Nixdorf acquisition, Diebold projected 2018 revenue and EBIT of ~$5.6 Diebold has seen (1) billion and ~$525 million, respectively significant revenue declines since 2017 § However, business integration challenges, strategic
Slide 15: Business Plan Overview
Business Plan Overview § Ducera utilized management’s business plan to prepare its valuation analysis, which consist of two Diebold has prepared forecast cases: its Base Case and Risk-Adjusted – The “Base Case” forecast projecting $402 million FY23 Adjusted EBITDA, which reflects forecasts to reflec
Slide 16: Key Base Case Assumptions
Key Base Case Assumptions Ducera utilized 2023 2024 2025-2028 Diebold’s Base and § Bottoms-up product revenue § 2.4% annual revenue growth § 2.4% annual revenue growth R&O business plans. build by customer through combination of: through combination of: Revenue § Top-down service revenue – 2% servic
Slide 17: Base Case Forecast Summary
Base Case Forecast Summary Consolidated Summary P&L to FCF Post-Emerg. (1) ($ in millions) 2021 2022 2023 2024 2025 2026 2027 2028 Services Revenue $2,288 $2,089 $928 $2,186 $2,230 $2,274 $2,319 $2,366 Y/Y Growth N/A (8.7%) N/A 2.0% 2.0% 2.0% 2.0% 2.0% Product Revenue $1,593 $1,351 $826 $1,706 $1,75
Slide 18: Summary of Risks and Opportunities
Summary of Risks and Opportunities § Amidst challenging idiosyncratic factors and an uncertain macroeconomic environment, Diebold has taken steps to ensure that its internal forecast appropriately accounts for potential risks and opportunities to its Revised Forecast, as summarized below ($ in thous
Slide 19: Risk-Adjusted Forecast Summary
Risk-Adjusted Forecast Summary Consolidated Summary P&L to FCF Post-Emerg. (1) ($ in millions) 2021 2022 2023 2024 2025 2026 2027 2028 Services Revenue $2,288 $2,089 $908 $2,159 $2,202 $2,246 $2,291 $2,337 Y/Y Growth N/A (8.7%) N/A 2.0% 2.0% 2.0% 2.0% 2.0% Product Revenue $1,593 $1,351 $758 $1,574 $
Slide 20: Business Plan Case Comparison
Business Plan Case Comparison The Base Case Revenue Gross Profit represents ($ in millions) $1,113 $1,083 $4,286 $1,053 $4,183 $1,048 management’s target $1,025 $1,020 $3,987 $4,084 $997 $993 $4,108 $3,892 $4,011 $967 $3,916 $941 $3,823 business plan, while $3,733 the R&O Case overlays various risks
Slide 21: III. Valuation Analysis
III.Valuation Analysis 19 Ducera
Slide 22: i. Executive Summary
i. Executive Summary 20 Ducera
Slide 23: Summary of Valuation Analysis
Summary of Valuation Analysis § Diebold’s Total Enterprise Value as of an assumed effective date of July 31, 2023 is estimated to be between approximately $2.15 billion and $2.45 billion, with a midpoint of $2.3 billion § The valuation presented herein is based on management’s Base and R&O business
Slide 24: Summary of Valuation Methodologies
Summary of Valuation Methodologies Ducera TEV Range: $2.15bn - $2.45bn Based on the valuation ($ in millions) Ducera Midpoint TEV: $2.3bn methodologies applied to Diebold’s historical 2018 – 1Q22 $2,500 $3,000 Historical Prior to Market Dislocation and forward-looking Diebold financial performance,
Slide 25: ii. Historical Trading Values
ii.Historical Trading Values 23 Ducera
Slide 26: Historical Diebold Trading Values
Historical Diebold Trading Values § From 2018 through early 2022, Diebold’s valuation was predominantly driven by the equity capital From 2018 through markets, with debt trading around par excluding idiosyncratic events in mid-2018 and 2020 early 2022, Diebold traded in an implied – Generally, Diebo
Slide 27: Historical Valuation Metrics by Quarter
Historical Valuation Metrics by Quarter § The following outlines Diebold’s historical market-implied Total Enterprise Value on a quarterly basis. Ducera considered the following definitions of Total Enterprise Value for this analysis: – Prior to Market Dislocation / Performance Challenges: Total ent
Slide 28: iii. Public Peer Analysis
iii.Public Peer Analysis 26 Ducera
Slide 29: Public Peer Analysis: Methodology
Public Peer Analysis: Methodology § Selected publicly traded peers analysis provides a valuation range based on how the public markets Ducera analyzed value businesses with operations and financial characteristics comparable in certain respects to several companies in Diebold the sector based on cer
Slide 30: Selected Publicly Traded Peers: NCR
Selected Publicly Traded Peers: NCR Market Value Ducera evaluated NCR Market-Implied Total Enterprise Value Build NCR’s current market ($ in millions) valuation on multiples Face Market Market Market Value / EBITDA of LTM, 2023, and Value Price Value LTM 2023E 2024E 2024 Adjusted EBITDA (1) Revolvin
Slide 31: Selected Publicly Traded Peers: Implied Diebold Valuation
Selected Publicly Traded Peers: Implied Diebold Valuation Ducera applied several Methodology Overview Implied Diebold Valuation Ranges valuation metrics to ($ in millions) § Ducera evaluated NCR’s current market-implied Selected Multiples Diebold’s historical Total Enterprise Value as a multiple of
Slide 32: iv. Discounted Cash Flow Analysis
iv.Discounted Cash Flow Analysis 30 Ducera
Slide 33: Discounted Cash Flow Analysis: Methodology & Assumptions
Discounted Cash Flow Analysis: Methodology & Assumptions § Discounted cash flow analysis is based on Diebold’s Base Case and Risk-Adjusted projections from Ducera estimated August 1, 2023 through December 31, 2028, assuming an expected emergence date of July 31, 2023 Diebold’s Total Enterprise Value
Slide 34: Discounted Cash Flow Analysis: Base Case
Discounted Cash Flow Analysis: Base Case Discounted Cash Flow Analysis ($ in millions) Projection Period Unlevered Free Cash Flow Terminal Value & TEV Build (1) 2023 2024E 2025E 2026E 2027E 2028E FY28E Adjusted EBITDA $519 Revenue 1,754 3,892 3,987 4,084 4,184 4,286 (x) Illustrative Multiple 5.5x %
Slide 35: Discounted Cash Flow Analysis: R&O Case
Discounted Cash Flow Analysis: R&O Case Discounted Cash Flow Analysis ($ in millions) Projection Period Unlevered Free Cash Flow Terminal Value & TEV Build (1) 2023 2024E 2025E 2026E 2027E 2028E FY28E Adjusted EBITDA $456 Revenue 1,665 3,733 3,823 3,916 4,011 4,108 (x) Illustrative Multiple 5.5x % G
Slide 36: Discounted Cash Flow Analysis: Weighted-Average Cost of Capital
Discounted Cash Flow Analysis: Weighted-Average Cost of Capital Ducera’s DCF analysis WACC Build-Up Inputs / Assumptions utilizes a weighted- A Unlevered Beta 0.8§ A Unlevered beta based on NCR 5-year raw, unadjusted beta average cost of capital range of 10% - 15% B Levered Beta 1.3§ Beta is re-leve
Slide 37: v. Precedent Transactions Analysis
v. Precedent Transactions Analysis 35 Ducera
Slide 38: Precedent Transactions Analysis
Precedent Transactions Analysis § Ducera evaluated a range of precedent control M&A transactions in the banking/retail products and Ducera evaluated services sector several precedent transactions that § Based on the transactions summarized below, Ducera applied a 7.5x to 9.0x multiple range to Diebo
Slide 39: IV. Value Waterfall and Creditor Recoveries
IV.Value Waterfall and Creditor Recoveries 37 Ducera
Slide 40: Plan Equity Value Bridge
Plan Equity Value Bridge ($ in millions) Low Midpoint High Total Enterprise Value $2,150 $2,300 $2,450 (1) ( + ) Projected Cash at Emergence 319 319 319 (2) ( - ) Minimum Cash (200) (200) (200) (3) ( - ) Projected FCF Through Trough (38) (38) (38) ( - ) 2024 Notes Cash Recovery (3) (3) (3) Remaining
Slide 41: Prepetition Creditor Recoveries
Prepetition Creditor Recoveries ($ in millions) Low Midpoint High Equity Value for Creditors $616 $710 $805 % of Total % of Equity (1) (2) Equity for Creditors Equity Value to 1L Claims 61.5% 97.7% $602 $694 $786 1L Claims 1,807 1,807 1,807 1L Claims Recovery 33.3% 38.4% 43.5% Value to 2L Notes 1.5%
Slide 42: Allocation of Value to WHOA Entities
Allocation of Value to WHOA Entities § Based on Diebold’s estimated midpoint Total Enterprise Value, Ducera allocated Total Enterprise Value to individual legal entities participating in the WHOA proceedings – Allocation are based on the premium of Ducera’s estimated midpoint Total Enterprise Value
Slide 43: Legal Notice
Legal Notice These materials have been prepared by Ducera Partners LLC and its affiliates (collectively, “Ducera”) for Diebold Nixdorf, Inc. (“Diebold”) and may not be used or relied upon for any purpose other than as specifically contemplated. The information used in preparing these materials may h
Slide 44: Diebold Nixdorf, Incorporated Liquidation Analysis
Diebold Nixdorf, Incorporated Liquidation Analysis May 30, 2023
Slide 45: Limiting Factors and Other Assumptions
Limiting Factors and Other Assumptions ■ This document has been prepared solely for Management for the purposes stated herein and should not be relied upon for any other purpose, except for the legal proceedings as part of the Chapter 11 and WHOA processes. ■ All valuation methodologies are predicat
Slide 46: Limiting Factors and Other Assumptions (Continued)
Limiting Factors and Other Assumptions (Continued) ■ The opinions set forth in this Report are not intended by FTI, and should not be construed, to be investment advice in any manner whatsoever. Furthermore, no opinion, counsel or interpretation is intended in matters that require legal, accounting,
Slide 47: Table of Contents
Table of Contents Introduction and Summary of Outcome 5 ABL Collateral – Gross Liquidation Proceeds 13 Non-ABL Collateral – Gross Liquidation Proceeds 16 Liquidation Analysis for Equity Value – Non-Guarantors 24 Liquidation Costs – Trustee Fee and Advisory Fees 26 Claims and Waterfall Recoveries 29
Slide 48: Introduction and Summary of Outcome
Introduction and Summary of Outcome
Slide 49: Introduction and Summary of Outcome: Introduction
Introduction and Summary of Outcome Introduction ■ Diebold Nixdorf, Incorporated (“DNI”) has retained FTI Consulting, Inc. (“FTI”) to prepare the following hypothetical liquidation analysis (the “Liquidation Analysis”). ■ Section 1129(a)(7) of the Bankruptcy often called the “best interests test,” r
Slide 50: Introduction (Cont’d)
Introduction and Summary of Outcome Introduction (Cont’d) ■ For the Dutch Scheme Parties and the Global Non-Debt Parties, the Liquidation Analysis assumes these entities would separately wind-down pursuant to local rules and regulations, which may require local insolvency proceedings outside of a hy
Slide 51: Process and Procedure
Introduction and Summary of Outcome Process and Procedure ■ The following definition of Liquidation Value, as required for a Chapter 11 Bankruptcy and WHOA, is used for purposes of this analysis: “the expected cash amount each relevant asset will generate when being monetized by a trustee / administ
Slide 52: Process and Procedure (Cont.)
Introduction and Summary of Outcome Process and Procedure (Cont.) ■ Notably, this Liquidation Analysis excludes any intercompany receivables or payable balances between Liquidation Entities. ■ For the purposes of this analysis, the Superpriority Term Loan Claims are assumed to have senior liens on n
Slide 53: Overall Liquidation Value Summary
Introduction and Summary of Outcome Overall Liquidation Value Summary Illustrative Chapter 7 Liquidation Analysis - Consolidated Low Mid High ■ The table to the left summarizes the (#039;s in 000's) Note Adj. Book Value $ % $ % $ % Gross Liquidation Proceeds range of outcomes on a consolidated 1 Total
Slide 54: Liquidation Value Summary – Net Liquidation Proceeds
Introduction and Summary of Outcome Liquidation Value Summary – Net Liquidation Proceeds after Liquidation Costs Illustrative Chapter 7 Liquidation Analysis - Consolidated Low Mid High (#039;s in 000's) Adj. Book Value $ % $ % $ % Gross Liquidation Proceeds - ABL Collateral B Accounts Receivable $ 3 63
Slide 55: Net Liquidation Proceeds and Estimated Recoveries
Introduction and Summary of Outcome (Cont’d) Liquidation Value Summary – Net Liquidation Proceeds after Liquidation Costs and Estimated Recoveries ■ After deduction of Liquidation Costs, the Net Liquidation Proceeds after Liquidation Costs $ 692,224 $ 856,701 $ 1 ,025,798 Net Liquidation proceeds ar
Slide 56: ABL Collateral – Gross Liquidation Proceeds
ABL Collateral – Gross Liquidation Proceeds
Slide 57: ABL Collateral – Accounts Receivable
ABL Collateral – Gross Liquidation Proceeds B Accounts Receivable ■ Accounts Receivable consists of all third-party trade accounts, net of any reserves. This balance does not include any intercompany related accounts receivable balances. The Company estimates that it will have approximately $363.8 m
Slide 58: ABL Collateral – Inventories
ABL Collateral – Gross Liquidation Proceeds C Inventories ■ The Liquidation Entities’ inventory balance consists of raw materials, work-in-process goods, parts, and finished goods, many of which are specifically purchased to create ATM, self-checkout, and point of sale products for banking and retai
Slide 59: Non-ABL Collateral – Gross Liquidation Proceeds
Non-ABL Collateral – Gross Liquidation Proceeds
Slide 60: Non-ABL Collateral – Cash and Cash Equivalents
Non-ABL Collateral – Gross Liquidation Proceeds A Cash and Cash Equivalents ■ Cash and Cash Equivalents consists of cash in the Liquidation Entities’ bank accounts and highly liquid investment securities that have original maturities of three months or less. — The Liquidation Entities estimate that
Slide 61: Non-ABL Collateral – Inventories
Non-ABL Collateral – Gross Liquidation Proceeds C Inventories ■ The Liquidation Entities’ inventory balance consists of raw materials, work-in-process goods, parts, and finished goods, many of which are specifically purchased to create ATM, self-checkout, and point of sale products for banking and r
Slide 62: Non-ABL Collateral – Other Current Assets
Non-ABL Collateral – Gross Liquidation Proceeds E Other Current Assets ■ The Company estimates that it will have approximately $81.9 million Other Current Assets balance as of the Conversion Date. Other Current Assets consists of deposits and advance payments to suppliers, deferred costs, net VAT re
Slide 63: Non-ABL Collateral – Fixed Assets
Non-ABL Collateral – Gross Liquidation Proceeds G Fixed Assets ■ Fixed Assets comprise buildings and building improvements, machinery, tools, and equipment, furniture and fixtures, computer equipment and software, and construction in progress. Estimated useful life of fixed assets ranges from 3 year
Slide 64: Non-ABL Collateral – Securities and Other Investments
Non-ABL Collateral – Gross Liquidation Proceeds H Securities and Other Investments ■ Securities and Other Investments are primarily investment instruments for deferred compensation plans which allow certain employees to defer receipt of a portion of their cash, 401(k) or share-based compensation, an
Slide 65: Non-ABL Collateral – Customer Relationships
Non-ABL Collateral – Gross Liquidation Proceeds K Customer Relationships ■ Customer Relationships represent the intangible value of the Liquidation Entities’ customer relationships, primarily on account of the strength of existing customer relationships within the banking and retail segments. ■ The
Slide 66: Non-ABL Collateral – Off Balance Sheet Intellectual Property
Non-ABL Collateral – Gross Liquidation Proceeds N Off Balance Sheet Intellectual Property ■ The Company owns Intellectual Property that it markets to banking and retail customers through its products and services portfolio. The Intellectual Property consists of differentiated brands, patents, design
Slide 67: Liquidation Analysis for Equity Value – Non-Guarantors
Liquidation Analysis for Equity Value – Non-Guarantors
Slide 68: Equity Collateral in Non-Guarantor Entities
Liquidation Analysis for Equity Value – Non-Guarantors P Equity Collateral in Non-Guarantor Entities ■ Non-Guarantor Entities with pledged equity are subject to liquidation in foreign jurisdictions with proceeds from liquidation payable towards claims at the foreign entity level. The equity value in
Slide 69: Liquidation Costs – Trustee Fee and Advisory Fees
Liquidation Costs – Trustee Fee and Advisory Fees
Slide 70: Liquidation Costs – Trustee and Advisory Fees
Liquidation Costs – Trustee and Advisory Fees Wind-Down Expenses, Ch. 7 US Trustee Fees, and Legal / Financial Advisory Fees ■ Wind-Down / Operating Expenses: This Liquidation Analysis assumes the cessation of the Debtors’ ordinary course operations as of the Q Conversion Date. The Debtors anticipat
Slide 71: Liquidation Costs – Trustee and Advisory Fees (Cont.)
Liquidation Costs – Trustee and Advisory Fees Wind-Down Expenses, Ch. 7 US Trustee Fees, and Legal / Financial Advisory Fees (Cont.) ■ Chapter 7 and Global Insolvency Legal Fees & Financial Advisors: Professional fees include estimates for certain legal and financial S advisory professionals require
Slide 72: Claims and Waterfall Recoveries
Claims and Waterfall Recoveries
Slide 73: Claims and Waterfall Recoveries Overview
Claims and Waterfall Recoveries Overview ■ ABL Facility Claims: Claim class represents estimated secured debt claims (excluding any letters of credit) for the ABL Credit Facility. Based on T available proceeds, these claims are estimated to receive a 100% recovery in all three scenarios. ABL Credit
Slide 74: Appendix A – Listing of Legal Entities by Collateral Group
Appendix A – Listing of Legal Entities by Collateral Group
Slide 75: Appendix A – Legal Entities: ABL Debt Parties
Appendix A – Listing of Legal Entities by Collateral Group Collateral Group Legal Entities included in each Collateral Group LE Code ABL Debt Parties Diebold Nixdorf, Incorporated L001 (AR and Inventory Only) Diebold Nixdorf Technology Finance, LLC L051 Diebold Nixdorf Canada, Limited L301 Diebold N
Slide 76: Appendix A – Legal Entities: Non-ABL Debt Parties
Appendix A – Listing of Legal Entities by Collateral Group Collateral Group Legal Entities included in each Collateral Group LE Code Non-ABL Debt Parties Diebold Nixdorf, Incorporated L001 Diebold Global Finance Corporation L006 Diebold Holding Company, LLC L009 Diebold SST Holding Company, LLC L016
Slide 77: Appendix A – Legal Entities: Non-ABL Debt Parties (Cont.)
Appendix A – Listing of Legal Entities by Collateral Group Collateral Group Legal Entities included in each Collateral Group LE Code Non-ABL Debt Parties Diebold Nixdorf Sp.z.o.o. L832 Diebold Nixdorf S.r.l. L837 Diebold Nixdorf B.V. L838 Diebold Nixdorf Software CV L869 Diebold Nixdorf Software Par
Slide 78: Appendix A – Legal Entities: Global Non-Debt Parties
Appendix A – Listing of Legal Entities by Collateral Group Collateral Group Legal Entities included in each Collateral Group LE Code Global Non-Debt Parties Diebold Latin America Holding Company, LLC L011 Diebold Mexico Holding Company, LLC L012 Diebold Software Solutions, Inc. L021 VDM Holding Comp
Slide 79: Appendix A – Legal Entities: Global Non-Debt Parties (Cont.)
Appendix A – Listing of Legal Entities by Collateral Group Collateral Group Legal Entities included in each Collateral Group LE Code Global Non-Debt Parties Procomp Industria Eletronica LTDA L503 Diebold Brasil LTDA L504 Diebold Financial Equipment Company, Ltd. L600 Diebold Nixdorf (Thailand) Compa
Slide 80: Appendix A – Legal Entities: Global Non-Debt Parties (Cont.)
Appendix A – Listing of Legal Entities by Collateral Group Collateral Group Legal Entities included in each Collateral Group LE Code Global Non-Debt Parties Diebold Nixdorf s.r.o.(Czech Republic) L828 Diebold Nixdorf Information Systems (Shanghai) Co. Ltd. L830 Diebold Nixdorf S.A. L831 Diebold Nixd
Slide 81: Appendix A – Legal Entities: Global Non-Debt Parties (Cont.)
Appendix A – Listing of Legal Entities by Collateral Group Collateral Group Legal Entities included in each Collateral Group LE Code Global Non-Debt Parties Wincor Nixdorf Soluções em Tecnologia da Informação Ltda. L900 Wincor Nixdorf IT Support S.A. de C.V. L901 Dynasty Technology Brasil Software L
Slide 82: Appendix B – Dutch Scheme Entities
Appendix B – Dutch Scheme Entities
Slide 83: Dutch Scheme Entities Summary – Low
Appendix B – Dutch Scheme Entities Summary Total Gross Liquidation Proceeds – Low Gross Liquidation Value – Low Cash & Accounts Other Fixed Securities & Customer Dutch Scheme Entities Cash Equivalents Receivable Inventories Current Assets Assets Investments Relationships Total Diebold Nixdorf Dutch
Slide 84: Dutch Scheme Entities Summary – Mid
Appendix B – Dutch Scheme Entities Summary Total Gross Liquidation Proceeds – Mid Gross Liquidation Value – Mid Cash & Accounts Other Fixed Securities & Customer Dutch Scheme Entities Cash Equivalents Receivable Inventories Current Assets Assets Investments Relationships Total Diebold Nixdorf Dutch
Slide 85: Dutch Scheme Entities Summary – High
Appendix B – Dutch Scheme Entities Summary Total Gross Liquidation Proceeds – High Gross Liquidation Value – High Cash & Accounts Other Fixed Securities & Customer Dutch Scheme Entities Cash Equivalents Receivable Inventories Current Assets Assets Investments Relationships Total Diebold Nixdorf Dutc
Slide 86: Appendix C – Off Balance Sheet Intellectual Property
Appendix C – Off Balance Sheet Intellectual Property – Gross Liquidation Proceeds Supporting Detail
Slide 87: Gross Liquidation Proceeds from Off Balance Sheet IP
Appendix C – Off Balance Sheet Intellectual Property – Gross Liquidation Proceeds Supporting Detail Gross Liquidation Proceeds from Off Balance Sheet IP – Estimated Recovery Ranges 1 2 Indicative Value of Contributed IP US Only Germany Only Total Combined Figures in millions of USD Indicated Value I
Slide 88: Experts with Impact
™ Experts with Impact Exhibit 7 See attached
Slide 89: Diebold Nixdorf legal entity ownership structure
D Di ie ebo bol ld d N Ni ix xdo dor rf f, , I Inc nco or rpo por rat ate ed d Di Die eb bo ol ld d N Ni ix xd do or rf f, , I In nc co or rp po or rat ate ed d & & S Su ub bs si id di iar ari ie es s ( (O Ohi hio o) ) 7 74 4. .9 98 86 6% % 6 62 2. .4 42 2% % 50% 50% 50% 50% 9 99 9. .8 86 6% % 9 98