Slide 1: Fiscal Q2 2026 Earnings Presentation
Amdocs Limited NASDAQ: DOX Fiscal Q2 2026 Earnings Presentation May 13, 2026 Shimie Hortig President & CEO Tamar Rapaport-Dagim Chief Financial Officer & Chief Operating Officer 1 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs
Slide 2: Forward-Looking Statement
Forward-Looking Statement The information contained herein in this presentation or delivered or to be delivered to you during this presentation does not constitute an offer, expressed or implied, or a recommendation to do any transaction in Amdocs Limited securities or in any securities of its affil
Slide 3: Today's speakers
Today’s speakers Shimie Hortig President & Chief Executive Officer Tamar Rapaport-Dagim Chief Financial Officer & Chief Operating Officer 3 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs
Slide 4: Agenda
Agenda Strategy & Business Performance Update Shimie Hortig President & Chief Executive Officer Financial Review & Outlook Tamar Rapaport-Dagim Chief Financial Officer & Chief Operating Officer Q&A 4 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs
Slide 5: Strategy and Business Performance Update
Shimie Hortig President & Chief Executive Officer Strategy and Business Performance Update 5 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs
Slide 6: Today's focus
Today’s focus 1 2 Future Vision Q2 Overview & Outlook Become the primary partner Financial & operating of choice to our customers performance highlights in their agentic journey and financial outlook 6 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdoc
Slide 7: Future Vision
1 Future Vision 7 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs
Slide 8: A glimpse of our vision
1 A glimpse of our vision Amdocs is best positioned to turn the agentic vision into reality for our customers Deep industry knowledge Engineering & Leader in mission-critical Outcome-based & domain expertise innovation pedigree systems transformation business model 8 Information Security Level 2 – S
Slide 9: Amdocs Agentic Strategy Building Blocks
1 Amdocs Agentic Strategy Building Blocks A B C D Tailored Agentic & agentic Strategic AI & GenAI-native automated roadmap for cloud partner organization products each customer ecosystem 9 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs
Slide 10: aOS - Successful MWC 2026 launch & initial commercial traction
1 aOS - Successful MWC 2026 launch & initial commercial traction ICIAL OFF UNCH LA Commercial Momentum aOS Officially Launched at Mobile World Congress in Barcelona 10 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs
Slide 11: Q2 Overview & Outlook
2Q2 Overview & Outlook 11 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs
Slide 12: Q2 Financial Highlights
2 Q2 Financial Highlights Revenue Non-GAAP Non-GAAP 12-Month (1) operating margin EPS (1) Backlog $1.17B 21.5% $1.78 $4.28B Above guidance Up 20bps Above guidance Up $30m QoQ midpoint YoY midpoint Up 2.6% YoY Year-over-year Record revenue Strong performance Highlights: revenue growth in quarter in E
Slide 13: Q2 commercial progress
2 Q2 commercial progress Spain Dealer onboarding modernization & Cloud CRM & OSS modernization and managed services transformation long-term support Charging system Mediation platform & modernization & operations BSS modernization Managed services extension Charging operations and expansion Our clou
Slide 14: Q2 project execution & delivery
2 Q2 project execution & delivery Key milestones Commercial launch of digital Mainframe to cloud migration Digital transformation Germany transformation E2E OSS go live for Wireline, ▪ AT&T 5G SA on Next-Gen enabling Network Fulfillment and Charging Platform hardware migration Orchestration includin
Slide 15: On track to achieve FY26 financial guidance
2 On track to achieve FY26 financial guidance Revenue(1) Free cash flow(3) 2.0% - 4.0% $710m - $730m YoY growth • Reiterate 3.0% midpoint in constant currency(1) • Reiterate $720m midpoint • ~90% earning-to-cash flow conversion, and attractive free cash flow yield(3)(4) of ~10% Non-GAAP EBIT(2) Non-
Slide 16: Bringing it all together
Bringing it all together 1 2 3 We believe Amdocs is best Shaping our strategic direction Solid Q2 financial results in line positioned to turn the agentic based on the vision and with our guidance vision into reality for our direction; initial traction with aOS customers 4 5 Commercial and operation
Slide 17: CFO transition
CFO transition Tamar Rapaport-Dagim Tal Rozenfeld Chief Financial Officer & GM, Head of Finance Chief Operating Officer CPA | MA in Law Retiring after a remarkable 19-year tenure CFO effective June 1, 2026 as CFO, the past 8 years as both CFO and COO, and 22 years at Amdocs overall • A proven busine
Slide 18: Financial Review & Outlook
Tamar Rapaport Dagim Chief Financial Officer & Chief Operating Officer Financial Review & Outlook 18 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs
Slide 19: Solid Q2 FY2026 Financial Results
Solid Q2 FY2026 Financial Results Q2 2026 Revenue vs. Guidance Key Metrics: $ Millions $1,170 $1,172 Revenue above guidance Revenue midpoint, including a $1,172m favorable foreign currency +3.9% YoY as reported movement of roughly $2M +2.2% YoY constant currency(1) compared to guidance Non-GAAP(2) O
Slide 20: Managed Services
Managed Services Supporting visibility and business resilience Managed Services revenue ~$759m Close to managed services ~100% contract renewals ~65% of Q2 FY2026 revenue Managed services arrangements support business model resiliency with highly recurring revenue streams, multi-year engagements and
Slide 21: Strong Balance Sheet & Cash Flow
Strong Balance Sheet & Q2 2026 Free cash flow(1) bridge Cash Flow FCF before restructuring payments of $17M was $97M in Q2 $800M commercial paper program launched March 2026 to further enhance financial flexibility and short-term funding mix, supported by revolving credit facility which was $101 $21
Slide 22: Disciplined Capital Allocation
Disciplined Capital Allocation Dividends $57 FCF: Six-year historical trend and FY2026E outlook Share repurchases 140% $138 % FCF(1)(3)(4)(5)(6)/ 88% 102% 101% 93% 94% 90% $195M Non-GAAP Net Income(1) Returned to shareholders in Q2 FY2026E 100% 99% 104% 96% 112% 106% guidance: % of FCF(1)(3)(4)(5)(6
Slide 23: Leading Indicators & Visibility: 12-month Backlog
Leading Indicators & Visibility: 12-month Backlog 12-Month Backlog Up $30M QoQ 12-month backlog includes: $4.28B Anticipated revenue related to contracts Up 2.6% YoY Estimated revenue from managed services contracts Letters of intent Quarterly 12-Month Backlog Growth YoY % Maintenance 3.5% 3.0% 3.2%
Slide 24: FY2026 Revenue Growth Outlook
FY2026 Revenue Growth Outlook FY2026 revenue growth: Revenue Growth YoY% Growth Constant Currency(3) Outlook tightened to 2.0%-4.0% YoY 10.3% constant currency(3) 7.7% 7.0% • Expects 2.6%-4.6% as reported, including a foreign currency benefit of 60 bps compared with 50 bps previously 4.0% Reiteratin
Slide 25: Sustained Margin Expansion in FY2026
Sustained Margin Expansion in FY2026 Balancing strategic growth investments with ongoing cost and efficiency benefits Annual Non-GAAP(1) Operating Margin: FY2020 – FY2026E(2) +20 bps YoY at the midpoint FY2026E: +20 bps YoY of the FY2026 target range of 21.3%-21.9% 21.6% 21.9% 21.4% 21.7% 21.3%-21.9
Slide 26: FY2026 Non-GAAP Diluted EPS Growth Outlook
FY2026 Non-GAAP Diluted EPS Growth Outlook Tightening the range, reiterating the midpoint Total Shareholder Return(3)(4) Non-GAAP(2) Diluted EPS Growth YoY % + Dividend Yield 14.1% 13.6% 11.7% Non-GAAP(2) EPS growth outlook 11.2% 11.1% tightened to 5.0%-7.0% in FY2026E 12.1% 11.5% 8.7%* 9.8% 9.0% Re
Slide 27: Q&A
Q&A 27 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs
Slide 28: Appendix
Appendix Outlook & Reconciliation Tables 28 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs
Slide 29: Q3 & FY2026 Outlook
Q3 Fiscal 2026 Outlook Revenue $1,155 - $1,195 million Q3 & GAAP EPS Non-GAAP(1) EPS $1.39 - $1.47 $1.81 - $1.87 FY2026 Share Count Tax 106 million Non-GAAP effective tax rate within the annual Outlook guidance range of 16.0%-19.0% in Q3 specifically FY 2026 Outlook Updated Previous Revenue growth 2
Slide 30: Reconciliation Tables
Reconciliation Tables a) The amounts under "Purchase of property and equipment, net”, include immaterial proceeds from sale of property and equipment for the three and six months ended March 31, 2026 and 2025, respectively. 30 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confiden
Slide 31: Reconciliation Tables
Reconciliation Tables 31 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs
Slide 32: Reconciliation Tables
Reconciliation Tables 32 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs
Slide 33: Thank you!
Thank you! 33 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs