Fidelity National Information Services (FIS) investor relations material

Segment performance and growth outlook

• Banking segment revenue is exceeding expectations, driven by focus on commercial excellence, digital, payments, and lending, with strong recurring revenue growth projected through 2025 and into 2026.

• Capital markets segment experienced a temporary setback in loan syndication due to tariffs in Q2, but volumes recovered in Q3 and Q4, with no further impact expected.

• Recurring revenue mix is increasing in both segments, reducing reliance on license sales and supporting margin expansion.

• No impact from recent government shutdowns on banking or capital markets operations.

Core banking and product strategy

• Core banking business is focused on large banks ($5B+), benefiting from industry consolidation and complexity needs.

• Growth is driven more by cross-selling ancillary products to existing clients than by new core conversions, as switching is rare among large banks.

• Three main core platforms serve different bank sizes: Horizon for $5B–$20B, IBS for $20B+, and MVP for $100B+ institutions seeking best-in-class, configurable solutions.

• All clients have already migrated to these modernized cores, with modernization occurring in place.

Payments and strategic partnerships

• Payments growth is a key focus, with strong sales in debit and money movement products; credit card processing for large institutions is a significant gap being addressed by the TSYS acquisition.

• TSYS will enable entry into large credit issuer processing, allowing bundling of debit, credit, and core services for major banks.

• New loyalty and prepaid offerings, such as Smart Basket, are expanding the product suite.

• Partnership with Affirm will bring BNPL capabilities to smaller institutions, with joint development targeting a mid-to-late 2026 launch.