Slide 1: Conduent Q2 2026 Financial Results
Conduent Q2 2026 Financial Results August 10, 2026
Slide 2: Cautionary Statements: Forward-Looking Statements
Cautionary Statements Forward-Looking Statements This presentation, any exhibits or attachments to this presentation, and other public statements we make may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “e
Slide 3: Cautionary Statements: Non-GAAP Financial Measures
Cautionary Statements Non-GAAP Financial Measures We have reported our financial results in accordance with accounting principles generally accepted in the U.S. (U.S. GAAP). In addition, we have discussed our financial results using non-GAAP measures for our Continuing Operations only, unless otherw
Slide 4: Q2 2026 Results
Q2 2026 Results • Revenue: $531M Q2 Results / • Adj. EBITDA(1): $16M Metrics • Adj. EBITDA Margin(1): 3.0% • New Business Signings ACV(2): $99M • Increase speed and accountability: ◦ Simplified operating model and strengthened leadership execution • Enforce financial discipline: ◦ Improved spending
Slide 5: Key Sales Metrics
Key Sales Metrics New Business ACV(1) Signings New Business ARR(1) New Business TCV(1) Signings $150M $150M $450M $111 $99 $100M $100M $300M $73 $216 $194 $60 $50M $150M $50M $0M $0M $0M Q2'25 Q2'26 Q2'25 Q2'26 Q2' 25 Q2' 26 Trailing Four Quarters ACV(1) Sales Trend Q2 New Business ACV(1) by Segment
Slide 6: Key Sales Metrics
Key Sales Metrics New Business ACV(1) Signings TCV Signings (incl. ARR(1) + NRR(1)) $1,000M $150M $111 $106 $194 $99 $100M $89 $216 $500M $193 $70 $162 $134 $50M $466 $206 $367 $286 $617 $0M Q2' 25 Q3' 25 Q4' 25 Q1' 26 Q2' 26 $0M Q2' 25 Q3' 25 Q4' 25 Q1' 26 Q2' 26 Renewal NB New Business (ARR(1) + N
Slide 7: Q2 2026 P&L Metrics
Q2 2026 P&L Metrics Revenue Revenue(1) Trend (Y/Y Compare) $750M (11.9)%Y/Y (11.9)% in CC(2) $603M $531M $500M (4.7)% (5.5)% (5.2)% (5.0)% (11.9)% $250M $0M Q2 2025 Q2 2026 Q2' 25 Q3' 25 Q4' 25 Q1' 26 Q2' 26 Adj. EBITDA(1) / Adj. EBITDA Margin(1) (30.4)% Y/Y • Revenue(1): Decline primarily driven by
Slide 8: Q2 2026 P&L by Segment
Q2 2026 P&L by Segment Revenue Adj. EBITDA(1) Contributions (15.0)% Y/Y 7.8% Y/Y $51M (9.7)% Y/Y Government, $215M (11.1)% Y/Y (30.4)% Y/Y $24M $16M (13.4)% Y/Y $(59)M Commercial, $316M Commercial Government Unallocated Adjusted EBITDA Costs • Commercial: Decrease primarily driven by revenue drivers
Slide 9: Q2 2026 Cash Flow and Balance Sheet
Q2 2026 Cash Flow and Balance Sheet Balance Sheet ($ in millions) 12/31/2025 6/30/2026 • Adj. Free Cash Flow(1): $(8)M Total Cash(4) $243 $240 Total Debt(5) 629 664 • Capex(2) as % of revenue: 2.6% Current Portion of Debt(8) 22 21 • Adjusted net leverage ratio(3): 2.1x 109 144 Revolving Credit Facil
Slide 10: FY 2026 Outlook
FY 2026 Outlook(1) FY 2026 Outlook(1) Revenue $2,150M - $2,250M Adj. EBITDA from Continuing Operations(2) $140M - $170M Other modelling considerations • $200M+ in divestiture consideration • $100M+ in cost efficiencies by the end of 2027 • Achieving positive free cash flow in 2027 (1) Refer to the A
Slide 11: Appendix
Appendix
Slide 12: Key Achievements and Industry Accolades
Key Achievements and Industry Accolades Portfolio Optimization and Strategic Transformation • Entered into agreements to sell the Public Transit business to Modaxo for $164 million and the Tolling business to Quarterhill Inc. for $70 million, plus a 7% equity interest in Quarterhill, further simplif
Slide 13: Definitions
Definitions New Business Total Contract Value (TCV): Estimated total future revenues from contracts signed during the period related to new logo, new service line or expansion with existing customers. New Business Non-Recurring Revenue (NRR): Metric measures the non-recurring revenue for any new bus
Slide 14: Non-GAAP Financial Measures
Non-GAAP Financial Measures Non-GAAP Financial Measures We have reported our financial results in accordance with accounting principles generally accepted in the U.S. (U.S. GAAP). In addition, we have discussed our financial results using non-GAAP measures for our Continuing Operations only, unless
Slide 15: Non-GAAP Financial Measures
Non-GAAP Financial Measures Adjusted Revenue, Adjusted Operating Income from Continuing Operations and Adjusted Operating Margin from Continuing Operations. We make adjustments to Revenue, Costs and Expenses and Operating Margin from Continuing Operations for the following items, as applicable, for
Slide 16: Non-GAAP Financial Measures
Non-GAAP Financial Measures Adjusted EBITDA from Continuing Operations and EBITDA Margin from Continuing Operations We use Adjusted EBITDA from Continuing Operations and Adjusted EBITDA Margin from Continuing Operations as an additional way of assessing certain aspects of our operations that, when v
Slide 17: Non-GAAP Financial Measures
Non-GAAP Financial Measures Free Cash Flow Free Cash Flow is defined as cash flows from operating activities as reported on the consolidated statement of cash flows, less cost of additions to land, buildings and equipment, cost of additions to internal use software, and proceeds from sales of land,
Slide 18: Non-GAAP Reconciliations
Non-GAAP Reconciliations Revenue at Constant Currency, Adjusted Net Income (Loss) from Continuing Operations, Adjusted Effective Tax Rate from Continuing Operations, Adjusted Operating Income (Loss) from Continuing Operations and Adjusted EBITDA from Continuing Operations (see footnotes on last page
Slide 19: Non-GAAP Reconciliations (Continued)
CONTINUED (in millions) Q2 2026 Q1 2026 FY 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Adjusted Net Income (Loss) from Continuing Operations calculated from Income (Loss) before Income Taxes from Continuing Operations Income (Loss) Before Income Taxes from Continuing Operations $ (57) $ (19) $ (170) $ (27)
Slide 20: Adjusted EBITDA from Continuing Operations (Continued)
CONTINUED (in millions) Q2 2026 Q1 2026 FY 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2025 ADJUSTED EBITDA FROM CONTINUING OPERATIONS Net Income (Loss) from Continuing Operations $ (69) $ (22) $ (174) $ (34) $ (42) $ (42) $ (56) Income tax expense (benefit) from continuing operations 12 3 4 7 4 (1) (6) Depreci
Slide 21: Adjusted Diluted EPS Reconciliation (Continued)
CONTINUED Adjusted Weighted Average Shares Outstanding, Adjusted Diluted EPS from Continuing Operations, Adjusted Effective Tax Rate from Continuing Operations, Adjusted Operating Margin from Continuing Operations, and Adjusted EBITDA Margin from Continuing Operations (Amounts are in whole dollars,
Slide 22: Adjusted Margin Reconciliation (Continued)
CONTINUED (Margins are in %) Q2 2026 Q1 2026 FY 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2025 ADJUSTED OPERATING MARGIN FROM CONTINUING OPERATIONS Income (Loss) Before Income Taxes from Continuing Operations Margin (10.7)% (3.2)% (7.0)% (4.4)% (6.3)% (7.1)% (10.0)% Adjustments: Total non-GAAP adjustments 4.5
Slide 23: Free Cash Flow and Adj. Free Cash Flow
CONTINUED Free Cash Flow and Adj. Free Cash Flow (in millions) Q2 2026 Q1 2026 FY 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Operating Cash Flow $ 7 $ (8) $ (73) $ 39 $ (39) $ (15) $ (58) Cost of additions to land, buildings and equipment (9) (9) (59) (15) (15) (15) (14) Cost of additions to internal use
Slide 24: Footnotes: Cash Flow and Balance Sheet
CONTINUED The below footnotes correspond to the "Q2 2026 Cash Flow and Balance Sheet" slide (1) Refer to Appendix for complete Non-GAAP reconciliations of Adjusted Free Cash Flow. (2) Capex refers to additions to Land, Buildings & Equipment, Internal Use Software, Product Software Additions and Soft
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