Unisys Corporation New · NYSE:UIS

Unisys Corporation New — Unisys — IDEAS Conference 2025

37 slides from Unisys Corporation New's conference presentation, August 2025

1. Slide 1: Unisys Presentation

   Unisys Presentation IDEAS CONFERENCE AUGUST 2025

2. Slide 2: Disclaimer

   Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Unisys ca

3. Slide 3: Agenda

   Unisys Overview Agenda Our Strategy Capital Structure Appendix

4. Slide 4: Unisys Overview

   Unisys Overview

5. Slide 5: We Deliver Mission-Critical IT

   Digital Agility End-to-End IT Support to enable smarter with intelligent workplace and field decisions & fuel growth services that drive productivity We Deliver Intelligent Operations Communication, Mission- Financial Future for transforming legacy ROI of Work Collaboration & Learning platforms to h

6. Slide 6: We drive breakthroughs

   We drive breakthroughs Key Stats ~16K ~8K ~100 ~700 Our top 50 clients have Associates Engineers Partners Clients been with us for more than 20 years on average and we 50+ ~$2B ~$290M ~$55M Countries FY24 Revenue FY24 Adjusted FY24 Free Cash serve some of the largest EBITDA Flow public sector, finan

7. Slide 7: Select Unisys Clients

   Select Unisys Clients PUBLIC FINANCIAL TRAVEL AND RETAIL AND SECTOR/HIGHER MANUFACTURING OTHER SERVICES TRANSPORTATION CONSUMER GOODS EDUCATION

8. Slide 8: Our Portfolio of Offerings

   Our Portfolio of Offerings Simplifying mission-critical IT at scale Software (L&S) Tech-Enabled Services (Ex-L&S) (~80% of Revenue)1 (~20% of Revenue)1 Consistent Revenue Recognition Up-Front License Revenue / Revenue Growth / Margin Expansion Support Over Term Cloud, Applications Digital Workplace

9. Slide 9: Differentiated by Stable, Profitable Software Revenue Base

   Differentiated by Stable, Profitable Software Revenue Base ClearPath Forward® (“License & Support”) L&S REVENUE $429 $432 $430 Proprietary, high-intensity Decades of use in key compute environments industries Designed for powerful, Including Financial secure, mission-critical Services, Public Sector

10. Slide 10: Why clients choose ClearPath Forward again and again…

    Why clients choose ClearPath Forward again and again… L&S REVENUE  Reliable, high-capacity compute Upside primarily driven by increased consumption, improved retention, and unplanned hardware purchases  Extremely secure $429 $432  Decades of valuable data & customization  Deeply embedded within

11. Slide 11: Select Strategic Unisys Partners

    Select Strategic Unisys Partners Key Alliance Partners Digital Workplace Cloud, Applications & Infrastructure Enterprise Computing Solutions

12. Slide 12: The Unisys Transformation

    The Unisys Transformation 2015-2020 2021-2022 2023 – early 2025 Solidifying Restoration of Relevance A Compelling Story Capital Structure 2024 Positive Inflection in New 2023 Logo Signings Leader Recognition in Key Positive Free Cash Flow 2022 Analyst & Advisor Reports Expansion of Alliance Partner

13. Slide 13: Solutions Being Recognized

    Solutions Being LEADER in Future of Work LEADER in Microsoft Cloud Ecosystem LEADER in Cybersecurity Solutions and Services (NEW) LEADER in Advanced Analytics and AI Services (NEW) Recognized LEADER in Multi Public Cloud Services LEADER in Generative AI Services (NEW) LEADER in Private/Hybrid Cloud

14. Slide 14: Our Strategy

    Our Strategy

15. Slide 15: Core Ex-L&S Growth Tenets

    Core Ex-L&S Growth Tenets Land & Expand Expanding Addressable Markets Improving win rate with new logo, cross-selling to Expanding solution portfolio to address new increase number of clients purchasing solutions from opportunities and growing our market share with mid- multiple Unisys segments, exp

16. Slide 16: How Unisys enables enterprise AI

    How Unisys enables enterprise AI A comprehensive, start-to-future AI portfolio with a pragmatic approach AI vision & strategy | Maturity & Readiness assessment | 1 Strategy & Consulting Roadmap development | Change management | Upskilling AI Center of Data preparation & transformation | Governance &

17. Slide 17: ClearPath Forward 2050 Strategy

    ClearPath Forward 2050 Strategy Expanding and enhancing the ecosystem; strategy evolution is driven by stability of the existing base, market demand, and client needs Product & • Continually enhancing core operating systems Platform • Diversify compute capabilities (e.g. hybrid computing, cloud expa

18. Slide 18: Delivering gross margin expansion

    Delivering gross margin expansion Targeting ~150bps annual Ex-L&S gross margin expansion (delivered >600bps expansion from 2022 to 2024) Higher value capabilities Lower the cost of delivery Incorporating generative AI, through increased use of automation hyper-automation, quantum computing and labor

19. Slide 19: Levers to Improve Free Cash Flow

    Levers to Improve Free Cash Flow Decline in environmental, certain legal, and cost reduction & other payments $28.7 Working Capital Management $20.2 $16.9 $11.2 Delivery & Reducing Legal Operational & Environmental $5.8 $5.8 $5.5 $5.7 Excellence Enhancing Payments $5.2 $4.9 Free Cash Flow 1Q23 2Q23

20. Slide 20: Our Opportunity

    Grow Ex-L&S Accelerate ClearPath Forward revenue growth rate 2050 Our Building awareness and recognition of our solutions & capabilities Through higher-value solutions and leveraging AI to more rapidly scale Invest in L&S ecosystem, unlock data & insights, and support client Opportunity solution del

21. Slide 21: Capital Structure

    Capital Structure

22. Slide 22: Strategic Capital Structure Objectives

    Strategic Capital Structure Objectives We continue to focus on the following objectives related to our capital structure and pension Reduce the size of the U.S. Reduce uncertainty and volatility Maintain strong cash Qualified Defined Benefit (QDB) of cash requirements, including balances and liquidi

23. Slide 23: Steps We Have Taken… …Next Steps

    Steps We Have Taken… Issued new Refinanced Extended Contributed Reallocated $700M Senior $485M notes Asset-Backed $250M to U.S. U.S. QDB Secured Notes Revolver QDB Pension Pension Plans Maturity Plans Assets …Next Steps 1 Execute Annuity Purchases to Reduce Cost of Full 2 Increase Capacity to Fund C

24. Slide 24: Leverage Detail

    Leverage Detail $M JUNE 30, 2025 SENIOR SECURED NOTES 1 $ 700.0 FINANCE LEASES AND OTHER DEBT 12.5 TOTAL DEBT $ 712.5 GLOBAL NET PENSION DEFICIT (AS OF DEC 31, 2024) 2 500.2 TOTAL DEBT INCLUDING PENSION DEFICIT $ 1,212.7 CASH $ 300.8 NET LEVERAGE $ 411.7 NET LEVERAGE INCLUDING PENSION DEFICIT $ 911.

25. Slide 25: Benefits of Recent Debt Raise and Pension Actions

    Benefits of Recent Debt Raise and Pension Actions Removes Enables Further Reduces GAAP Cash Flow 3-5 Year Path to Substantially All Annuity Purchase Pension Deficit & Accretive Over Full Removal of Pension Volatility Transactions Contributions Next 5 Years1 U.S. QDB Plans Reallocated assets to Incre

26. Slide 26: Thank You

    Thank You Contact Us: Investor@Unisys.com

27. Slide 27: Appendix

    Appendix

28. Slide 28: Accretion to Five-Year Cash Flow

    Accretion to Five-Year Cash Flow Contribution reduction exceeds interest on incremental debt • Analysis shows $70M cash flow benefit assuming minimum required pension contributions only • Benefit could improve from discretionary debt or pension payments from operational cash flows Forecasted ($M) 20

29. Slide 29: Ability to Continue U.S. Annuity Purchases

    Ability to Continue U.S. Annuity Purchases Removes gross liability with minimal impact to net leverage and significantly reduces costs to remove U.S. QDB Pension Plans • Reduces cost of full plan termination to more manageable size – Opportunity to continue annuity purchases beyond 2026 to further r

30. Slide 30: Adjusted EBITDA Reconciliation (FY 2023 & 2024)

    Adjusted EBITDA Reconciliation (FY 2023 & 2024) $M FY24 FY23 NET INCOME (LOSS) ATTRIBUTABLE TO UNISYS CORPORATION ($ 193.4) ($ 430.7) NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS 0.2 3.6 INTEREST EXPENSE, NET OF INTEREST INCOME OF $5.8, $6.3, $23.2 AND 8.7 4.5 $26.3, RESPECTIVELY 1 PRO

31. Slide 31: Adjusted EBITDA Reconciliation (LTM)

    Adjusted EBITDA Reconciliation (LTM) $M 3Q24 4Q24 1Q25 2Q25 N E T (LOSS) IN COME AT T RIB UT AB LE T O UN ISYS CORPOR A T I ON ($ 61.9) $ 30.0 ($ 29.5) ($ 20.1) N E T (LOSS) IN COME AT T RIB UT AB LE T O N ON CON T ROLLIN G IN T E RE ST S - 0.5 (1.1) 0.1 IN T E RE ST E XPE N SE , N E T OF IN T E RE

32. Slide 32: Adjusted Free Cash Flow Reconciliation (FY 2023 & 2024)

    Adjusted Free Cash Flow Reconciliation (FY 2023 & 2024) $M FY24 FY23 CASH PROVIDED BY OPERATIONS $ 135.1 $ 74.2 ADDITIONS TO MARKETABLE SOFTWARE (47.5) (46.0) ADDITIONS TO PROPERTIES (16.0) (21.3) ADDITIONS TO OUTSOURCING ASSETS (16.3) (11.4) FREE CASH FLOW $ 55.3 ($ 4.5) PENSION AND POSTRETIREMENT

33. Slide 33: Excluding License and Support ("Ex-L&S") Quarterly Revenue and Gross Profit

    Excluding License and Support (“Ex-L&S”) Quarterly Revenue and Gross Profit $M 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 L&S REVENUE $ 136.9 $ 80.8 $ 67.1 $ 144.3 $ 93.2 $ 82.1 $ 104.5 $ 151.7 $ 71.1 $ 87.6 EX-L&S REVENUE 379.5 396.0 397.5 413.3 394.6 396.1 392.5 393.7 361.0 395.7 REVENUE $

34. Slide 34: Potential Economic Benefit of Tax Assets (as of December 31, 2024)

    Potential Economic Benefit of Tax Assets (as of December 31, 2024) FUTURE AVAILABLE NET DEFERRED TAX $M DESCRIPTION REDUCTIONS IN TAXABLE ASSETS 1 INCOME U.S. NOLS AND TAX CREDITS: NET OPERATING LOSS – FEDERAL & STATE $ 536 $1,617 TAX CREDITS 91 435 PENSION AND OTHER: PENSION 150 600 OTHER DEFERRED

35. Slide 35: Definitions of Non-GAAP Financial Metrics

    Definitions of Non-GAAP Financial Metrics Non-GAAP operating profit –This measure excludes pretax pension and postretirement expense, pretax goodwill impairment charge and pretax charges or gains associated with certain legal matters related to settlements, professional services and legal fees, incl

36. Slide 36: Definitions of Other Metrics and Terms

    Definitions of Other Metrics and Terms License and Support (L&S) – Represents software license and related support services, primarily ClearPath Forward®, within the company's ECS segment. Excluding License and Support (Ex-L&S) – These measures exclude revenue, gross profit and gross profit margin i

37. Slide 37: Investor@Unisys.com

    Contact: Investor@Unisys.com unisys.com © 2025 Unisys Corporation. All rights reserved.

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