Fidelity National Information Services Inc Announces Strategic Transactions Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Darrin Peller - Wolfe Research - Analyst : Hey guys, congrats on this deal. Stephanie, maybe just help us understand a little bit more about what the convergence in Issuer between the capabilities you already had and now having this asset really brings to the table in terms of differentiation, mainly I mean adding such a big credit card issuer capability to what you already have and to some degree credit but really a lot of debit. Just help us a little more in terms of what that does for the business' growth potential and how it stands apart in the industry going forward from that?

Question: Darrin Peller - Wolfe Research - Analyst : Okay. And then just -- that's really helpful. One more follow up would just be the technology transformation that I know Global's been going through with effectively it's issuer business on the AWS and more modernization of that. I mean, tell us about the technology that you guys have on your issuer stack versus theirs and what does that do bringing that on here? I mean, is there going to be -- is that one of the major synergy potential opportunities really just converging the technology onto one of the platforms? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 17, 2025 / 12:30PM, FIS.N - Fidelity National Information Services Inc Announces Strategic Transactions

Question: Darrin Peller - Wolfe Research - Analyst : Right. That's great. Congrats, guys. Thanks.

Question: Dan Dolev - Mizuho Securities USA - Analyst : Oh, hi. Thank you so much. Well, congrats again. A great deal for you guys. Maybe since you've -- maybe not so much on the deal, but more about results that you pre-released which look really strong. Given all the uncertainty out there, maybe Stephanie, can you give us like a sense of, what you're seeing on both sides of the businesses, both the legacy FIS business, but also anything you're hearing about trends in Worldpay, that would be really helpful given where we are in terms of all the turmoil out there. That would be great. Thank you.

Question: Dan Dolev - Mizuho Securities USA - Analyst : Well, results look amazing, and the deal looks fantastic. So congrats again.

Question: Jason Kupferberg - BofA Global Research (US) - Analyst : Hey guys, good morning. It's nice to see this transaction. I wanted to see if you can discuss in a little more detail or even potentially quantify just the client overlap that exists between Issuer Solutions, and then just the core banking clientele at FIS.

Question: Jason Kupferberg - BofA Global Research (US) - Analyst : Great, appreciate that. And James can you just give us a sense of how you're thinking about the free cash flow conversion profile of the business post transaction close, both initially?

Question: Jason Kupferberg - BofA Global Research (US) - Analyst : Thank you.

Question: Rayna Kumar - Oppenheimer & Co Inc - Analyst : Good morning and thanks for all the details. Could you give us a little bit more detail on what will drive $45 million in revenue synergies in the first three years? And then what opportunities do you see more long term to get to the $125 million? Thank you.

Question: Rayna Kumar - Oppenheimer & Co Inc - Analyst : Appreciate the color. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 17, 2025 / 12:30PM, FIS.N - Fidelity National Information Services Inc Announces Strategic Transactions

Question: Trevor Williams - Jefferies Group LLC - Analyst : Great. Thanks very much. A question just on how you see this impacting the core banking asset within banking solutions clearly this is complimentary and that now you have credit to cross sell into the existing base, but Stephanie, how do you see this potentially helping the actual core bank processing asset? You talked about the ability to bundle together? I mean do you think this makes the actual core processing capability and any more competitive with the ability to bundle all this together? Thank you.

Question: Bryan Bergin - TD Cowen - Analyst : Hey guys, congrats on the deal here. Just one for me. So different offerings on credit versus debit, just a consolidated market though within processing. So just any regulatory considerations here as we've found that question.

Question: Will Nance - Goldman Sachs & Company, Inc - Analyst : Hey guys, good morning. Congrats on announcing this deal. Pretty clear strategic benefits here for the company. James, I just wanted to ask one for you on the restructuring charges that may come from this and just what that might mean. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 17, 2025 / 12:30PM, FIS.N - Fidelity National Information Services Inc Announces Strategic Transactions I -- obviously you guys have this guidance for a reduction in some of the free cash flow ad backs over the next several years, I'm sure this has implications for that. So maybe can you talk a little bit about that vis a vis the OpEx synergies that you guys are expecting to get and maybe just talk about how this changes the trajectory of kind of some of the earning quality metrics?

Question: Will Nance - Goldman Sachs & Company, Inc - Analyst : That's great. I appreciate you clarifying that. Obviously, that's a better trajectory than you previously communicated on standalone restructuring charges. Just one on the macro and appreciate coming in ahead of the guidance on the first quarter, I know you previously talked about kind of acceleration throughout the year in the core banking. We've gotten a lot of questions over the last few weeks around just what this macro environment may mean for implementation schedules in the banking business, knowing that it's a very dynamic market out there. So I was wondering if you could just kind of address the implementation risk for the remainder of the year. Obviously you said earlier that you're feeling much more confident about the outlook for banking this year. So can you just help people kind of understand some of the risks of the outlook just given the uncertainty and how you think about where an implementation delay if it did occur, what are the types of deals that would be most at risk in this environment.

Question: Will Nance - Goldman Sachs & Company, Inc - Analyst : Got it, appreciate that. Congrats on the deals. I know obviously a big lift for the team, so big congrats to everyone. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 17, 2025 / 12:30PM, FIS.N - Fidelity National Information Services Inc Announces Strategic Transactions

Question: Daniel Perlin - RBC Capital Markets LLC - Analyst : Thanks, good morning. Just, I want to revisit the bundling comment for a second. So it sounds like by having this asset, it's -- I mean, is it a competitive advantage or a competitive necessity that you had to have it because, as I think about it, there's not a lot of other players actually they can do bundling at scale at the level that you're describing, Stephanie. And then the second, just my follow up question is just how does this asset play into your kind of international ambitions as you think about the business longer term? Thank you.

Question: Daniel Perlin - RBC Capital Markets LLC - Analyst : That's great. Thank you very much and congratulations. It's a pretty clear opportunities here so thank you.

Question: James Faucette - Morgan Stanley - Analyst : Great. Thank you so much. Made pretty clear that there's some pretty complimentary components on the issuing business in terms of customers, et cetera and capabilities. But are there any additional capabilities or areas that you feel like you need to add to really have a complete solution in in issuing whether that be through your own internal development once the businesses are combined or even the acquisition down the road?

Question: Jamie Friedman - Susquehanna International Group LLP - Analyst : Hi, good morning. Let me echo the congratulations. I wanted to ask two things, and it may be early, but have you thought through yet and if not, it may be early, the investor relations disclosures on the issuer business pieces used to share accounts on file on a quarterly basis. They would decompose those between credit and debit and government. Any thoughts on that in a high level and then? Stephanie, in terms of the like value-added services, but particularly the fraud, pieces was really well known for fraud related solutions. I'm just wondering, have you -- did you have a chance to take a look at those yet? How do you think they stack up and can you get those going again? Thank you.

Question: Jamie Friedman - Susquehanna International Group LLP - Analyst : Awesome. Makes sense, thank you very much.

Question: Cris Kennedy - William Blair & Company - Analyst : Good morning. Thanks for squeezing me in here. I know it's very early, but Worldpay had a pretty big role, I think, in Atelio. Any updated thoughts on kind of their role going forward with that embedded finance initiative? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 17, 2025 / 12:30PM, FIS.N - Fidelity National Information Services Inc Announces Strategic Transactions

Question: Cris Kennedy - William Blair & Company - Analyst : Got it. Thanks for taking the question.