Jack Henry & Associates Inc at UBS Global Technology and AI Conference Summary

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

Question: Timothy Chiodo - UBS AG - Analyst : <_ALACRA_META_ABSTRACT>All right, we've got a great list of topics to hit here. We're going to start with the core. We're going to get into payments. We're going to get into the complimentary segment. We're going to wrap up with some financial topics around margins and capital allocation. So with that, Greg, if you don't mind, we're going to start with the demand environment. Maybe talk a little bit about how you guys are seeing the demand environment today and how that changed relative to last year.

Question: Timothy Chiodo - UBS AG - Analyst : All right, excellent. That was a great way to kick us off here. All right, we're going to dig in a little bit more specifically on the core segment. So typically in a given year, Jack Henry's winning 50, give or take, cores, right? So 51 last year, targeting another 50 this year. Before we get into the forward look, can we just set the stage in terms of what do you think the annual jump ball is per year of cores that are really available to be won?

Question: Timothy Chiodo - UBS AG - Analyst : All right, great. So in summary, the jump ball itself will be getting larger, and you would expect no reason to expect that your win rate would be any less. Okay, excellent. All right, well, that's good for that topic for now. We might circle back later. Let's talk a little bit about moving into some of the bigger banks, right? So some of the financial institutions that are maybe $1 billion or more in assets, you've been having some more success there. Maybe just talk about what's enabling that momentum.

Question: Timothy Chiodo - UBS AG - Analyst : All right, excellent. So you just talked a little bit about your wins and cores of various sizes, some of the smaller and some of the larger. Is there a rule of thumb maybe you would share with investors how we could think about for each incremental X number of cores and what that might mean to revenue growth or flow through to earnings or anything that you could kind of put a little bit of a financial set on that?

Question: Timothy Chiodo - UBS AG - Analyst : All right, great. I think we covered the units or the number of cores quite well. Now, we're going to move on to more of the pricing. So one of the benefits that you've been seeing over time is that migration from on-prem into the private cloud, and you're about 77% of the way there. And that's a well-documented uplift in revenue that you've talked about. Maybe just recap that, but maybe more importantly, let's talk about the next shift into the public cloud and what that means for the revenue uplift. LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 03, 2025 / 11:15PM, JKHY.OQ - Jack Henry & Associates Inc at UBS Global Technology and AI Conference

Question: Timothy Chiodo - UBS AG - Analyst : All right. Excellent. Covered that one well. One last topic on the core segment, which is some of these recent changes that you've been talking about in terms of your sales procedures has to do with renewals. Maybe you could just expand upon this a little bit and what it means for investors?

Question: Timothy Chiodo - UBS AG - Analyst : All right. Perfect. Thank you. I should have mentioned earlier, but we will -- it looks like we're probably going to have some time at the end for audience Q&A. If anyone would like to ask a question, I'll just bring the microphone out to you. All right. I think we covered core really well. We're going to move into the payment segment, your largest segment. You mentioned this earlier. It's a lot of that cross-sell and attach of additional products to your core customers. So you've got card processing, enterprise payments, pay center. So there's lots of payments-related businesses within this segment. Maybe you could talk a little bit about maybe on a product-by-product basis, which ones are really driving the growth and which ones is the management team really investing behind most over the coming years?

Question: Timothy Chiodo - UBS AG - Analyst : Excellent. And on that acquiring offering with the partnership with Moov, fair to say that's a little bit of rev share to Moov, a little bit of rev share to you, a little bit to the underlying FI.

Question: Timothy Chiodo - UBS AG - Analyst : All right, perfect. All right, let's move on to the complimentary segment. So one of the big topics with this segment is Banno going outside the base, right, so becoming more of a core agnostic-type product. Maybe you could talk a little bit about that. It sounds like it's something that's more of an early 2026 start to that. We'd love to hear more about that.

Question: Timothy Chiodo - UBS AG - Analyst : All right, excellent. Let's move on to a couple thoughts on margins. Maybe you could talk about some of the initiatives you have ongoing, whether it's AI, maybe it's headcount-related. You could also talk about any of the revenue mix shifts. What should investors be thinking about in terms of margin expansion ahead?

Question: Timothy Chiodo - UBS AG - Analyst : All right. Excellent. Thank you, Greg. The last question that we have here before we move to the audience is around capital allocation. Maybe you could give a brief overview of Jack Henry's capital allocation stance, and then, of course, maybe just touch on that recent closing of the Victor Technologies acquisition. LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 03, 2025 / 11:15PM, JKHY.OQ - Jack Henry & Associates Inc at UBS Global Technology and AI Conference

Question: Timothy Chiodo - UBS AG - Analyst : All right. I think you covered it well, Greg. Thank you so much. We have a few minutes left. We could go to the audience. If anyone would like to ask a question, I'll gladly bring around the microphone. Anyone? Okay. Oh, we have one. Unidentified Participant Hey, Greg. Thanks for the time. I guess, you already alluded to this previously, but the building optimism that you guys could have an elevated number of deal wins, over the coming years. What are you guys doing to prepare for that, particularly with respect to implementation specialists to get these deals live?

Question: Timothy Chiodo - UBS AG - Analyst : Thank you. All right, I think that was a great way to wrap it up. Greg, I want to thank you. I want to thank Vance and the Jack Henry team for being a part of our conference. Again, thanks for being here in Arizona.