NCR Voyix : Q1 2024 Earnings Slides

Q1 2024 Earnings Report

David Wilkinson, CEO Brian Webb-Walsh, CFO

May 9, 2024

Notes to Investors

SPIN-OFF INFORMATION. On October 16, 2023, NCR Voyix completed the spin-off of NCR Atleos Corporation ("NCR Atleos") as an independent, publicly traded company. The historical financial results of NCR Atleos are reflected as discontinued operations in NCR Voyix's consolidated financial statements for periods prior to the completion of the spin-off. Accordingly, the financial information included in this presentation and the associated remarks has been recast to reflect the treatment of NCR Atleos as discontinued operations. However, certain costs historically allocated to NCR Atleos do not meet the definition of expenses related to discontinued operations for purposes of GAAP requirements regarding the reporting of discontinued operations. These costs have been included in NCR Voyix's results from continuing operations, even though NCR Voyix is not expected to incur any additional such costs following completion of the spin-off, and primarily include costs of services and selling, general and administrative expenses. As a result, NCR Voyix's GAAP and non-GAAP combined segment and consolidated results in this presentation and the associated remarks may not be comparable with estimates previously reported. To address this, NCR Voyix has provided Normalized Adjusted EBITDA, which adjusts for these costs.

In addition, NCR Voyix was not able to cease all NCR Atleos-related operations in all foreign countries simultaneously with the spin-off. As a result, some of these transfers occurred during the fourth quarter of fiscal 2023 and the first quarter of fiscal 2024, with more expected to occur in the future. Each of these transfers from continuing operations will impact NCR Voyix's segment and consolidated results as we retrospectively recast historical financial information for additional operations that become categorized as discontinued operations. As a result, NCR Voyix's GAAP and non- GAAP combined segment and consolidated results in this presentation and the associated remarks and in future public disclosures may not be comparable with estimates previously reported.

As a result of discontinued operations treatment and post-2023 transfers and planned transfers of NCR Atleos-related operations in foreign countries, NCR Voyix's GAAP and non-GAAP combined segment results, segment results and consolidated results in this release may not be comparable with estimates previously reported. To provide enhanced comparability of combined segment results and consolidated results between periods, NCR Voyix has provided Normalized Adjusted EBITDA, which adjusts for these items.

NON-GAAP MEASURES. While the Company reports its results in accordance with generally accepted accounting principles in the United States, or GAAP, comments made during this presentation and in the associated remarks will include or make reference to certain "non-GAAP" measures, including selected measures such as Normalized revenue, adjusted EBITDA, Normalized Adjusted EBITDA, adjusted EBITDA margin and adjusted free cash flow-unrestricted. These measures are included to provide additional useful information regarding the Company's financial results and are not a substitute for their comparable GAAP measures. NCR Voyix's definitions and calculations of these non-GAAP measures may differ from similarly-titled measures reported by other companies and cannot, therefore, be compared with similarly-titled measures of other companies. These non-GAAP measures should not be considered as substitutes for, or superior to, results determined in accordance with GAAP. Explanations of these non-GAAP measures, as well as a statement of usefulness and purpose of each such measure are included in the appendix of this presentation.

These presentation materials and the associated remarks made during this presentation are integrally related and are intended to be presented and	2
understood together.	N Y S E : V Y X

Notes to Investors

FORWARD-LOOKING STATEMENTS. This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Statements can generally be identified as forward-looking because they include words such as "expect," "target," "anticipate," "outlook," "guidance," "intend," "plan," "confident," "believe," "will," "should," "would," "potential," "positioning," "proposed," "planned," "objective," "likely," "could," "may," or words of similar meaning. NCR Voyix Corporation ("NCR Voyix" or the "Company") intends for these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Act. Statements that describe or relate to the Company's plans, targets, goals, intentions, strategies, prospects, or financial outlook, including modeling considerations, and statements that do not relate to historical or current fact, are examples of forward-looking statements.

Forward-looking statements are subject to assumptions, risks and uncertainties that may cause actual results to differ materially from those contemplated by such forward-looking statements. The factors that could cause the Company's actual results to differ materially include, among others, the following: challenges with transforming and growing the Company's business, including the Company's ability to attract new customers, increase use of the Company's platform by existing customers and cross-sell additional products and solutions; the Company's ability to compete effectively against new and existing competitors and to continue to introduce competitive new products and solutions on a timely, cost-effective basis; the difficulties and risks associated with developing and selling complex new solutions and enhancements, including those using artificial intelligence; the timing and implementation of the Company's cost reduction initiatives; the Company's ability to successfully complete and integrate acquisitions or other strategic transactions and to realize the anticipated benefits associated with the same; the failure to achieve some or all of the expected strategic benefits or opportunities expected from the spin-off of NCR Atleos Corporation ("NCR Atleos"); any unforeseen tax liabilities or impacts resulting from the spin-off of NCR Atleos; the impact of cybersecurity incidents on the Company's business, including the April 2023 ransomware incident, and efforts to prevent or mitigate such incidents and any related impacts on the Company's operations; efforts to comply with applicable data protection and data privacy laws; domestic and global economic and credit conditions; downturn or consolidation in the financial services industry; risks and uncertainties associated with the Company's payments-related business; disruptions in the Company's data center hosting and public cloud facilities; retention and attraction of key employees; defects, errors, installation difficulties or development delays; failure of the Company's third-party suppliers; a major natural disaster or catastrophic event; geopolitical and macroeconomic challenges or events or acts of terrorism; environmental exposures from the Company's historical manufacturing activities; risks associated with the Company's indebtedness; the Company's failure to maintain effective internal control over financial reporting and disclosure controls and procedures and its ability to remediate material weaknesses in its internal control over financial reporting; and other factors identified in "Risk Factors" in the Company's filings with the U.S. Securities and Exchange Commission, which are available at https://www.sec.gov.

You should consider these factors carefully in evaluating forward-looking statements and are cautioned not to place undue reliance on such statements. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this presentation.

N Y S E : V Y X 3

NCR Voyix At-a-Glance

#1

POS Software

Provider for

Restaurants &

Retail1

#1

Self-Checkout

Provider2

1 Based on RBR Global POS Software 2023 study.

2 Based on RBR Global EPOS and Self Checkout 2023 study.

3 Ranking as of Q4 2023 public filings by NCR Voyix, Q2 (QTWO), and Alkami (ALKT).

#1

User footprint among independent digital banking providers3

13 of 15	>300K
Top U.S. Retail Banks
as Customers	Restaurant &
	Retail
	Sites
	28M+
	Registered Digital
	Banking Users

67%

of Largest

Retailers as

Customers

80%

of top 10 Restaurant Chains as Customers

>60K

Restaurant &

Retail Platform

Sites

N Y S E : V Y X 4

Q1 2024 Overview

KEY QUARTERLY HIGHLIGHTS

$662M	$122M	61K	Software ARR3
+5%	14.2%	+27%	$1.3B +6%
Software	Adj EBITDA1,2	Total	Total ARR3
& Services	$2.1B +5%
Revenue1	& Margin1	Platform Sites

1 Amounts reflect normalized financial results. For a definition of non-GAAP metrics and a reconciliation of GAAP to non-GAAP financial metrics, see Appendix. 2 Q1 2024 Normalized Adjusted EBITDA and Normalized Adjusted EBITDA margin include the impact of $22 million of spin-relateddis-synergies.

3 Represents Annual Recurring Revenue. For a definition of Annual Recurring Revenue, see Appendix.

N Y S E : V Y X 5

Restaurants Segment Performance

Platform Connectivity

CUSTOMER UPDATES

New Customer

Multi-year platform contract

• Unified customer experience (POS, back office, e-commerce, consumer marketing, payments)
• Fully integrated branded solutions (ordering, loyalty program, etc.)

SEGMENT HIGHLIGHTS

	1Q24	Y-o-Y % Δ
Platform Sites	30K	+6%
Payment Sites	7K	+26%
Total ARR	$554M	+5%

Platform	Renewal + Expansion
Expansion

Multi-year contract (expanded offering via existing platform connectivity)

• Restaurant conglomerate with ~600 sites
• Branded digital ordering + mobile pay application

• 230+ new customers signed in Q1
  2024

N Y S E : V Y X 6

Retail Segment Performance

Platform Connectivity

CUSTOMER UPDATES

Renewal + Expansion

Multi-year contract (expanded software & services solutions via platform connectivity

• 22k+ lanes across 1700+ sites in the UK
• Customer payback within two years

SEGMENT HIGHLIGHTS

	1Q24	Y-o-Y % Δ
Platform Sites	31K	+57%

Self-	Expansion with Global e-Commerce
Checkout	Company

• Doubled contracted locations in Q1
• Upgraded to NextGen self-checkout

Self-Expansion

Checkout

• Adding self-checkout technology to 40 sites
• Additional expansion opportunity

Total ARR

$1,029M

+5%

• 50+ new customers signed in Q1 2024

N Y S E : V Y X 7

Digital Banking Segment Performance

CUSTOMER UPDATES

Digital-First	Expansions with over 200
Platform	Financial Institutions

SEGMENT HIGHLIGHTS

1Q24

Y-o-Y % Δ

Platform Expansion

Digital-First Platform

Cross-selling and upselling digital-first platform solutions driving future ARPU growth

Expansion with Top-10 Retail Bank

Expanded multi-million dollar relationship to better serve end-users and drive cost efficiency

New Customer

Implementing digital-first platform to attract new customers

ARPU	$27.63	+4%
Active Users	19.7M	+3%
Registered	28.5M	+5%
Users
Segment ARR	$539M	+7%

• 200+ renewals & expanded relationships in 1Q24
• 5 new financial institutions signed in
  1Q24

N Y S E : V Y X 8

Products & Partnerships

STRATEGIC OFFERINGS TO DRIVE REVENUE GROWTH

		Sunday
	NCR Voyix	Everseen
NCR Voyix	Olo
Loyalty	Next-Gen	MX Tech
Restaurant	Self-Checkout	Platform Partner
& Retail	Retail	Ecosystem

N Y S E : V Y X 9

Financial Overview