FIS Reports Full-Year 2025 Results and Introduces 2026 Outlook

JACKSONVILLE, Fla.--( BUSINESS WIRE)--FIS ® (NYSE:FIS), a global leader in financial technology, today reported its fourth quarter and full-year 2025 results.

“We are entering 2026 with continued strong momentum as our commercial excellence initiatives and investments in innovation are driving durable revenue growth and expanding margins,” said FIS CEO and President Stephanie Ferris. “With the Issuing acquisition, FIS now operates the most comprehensive financial data set in the industry - spanning the entire money lifecycle. We are executing against a differentiated strategy, driving innovation across the enterprise, and are uniquely positioned for this generational moment in financial services.”

Financial Reporting Considerations for Closed Total Issuing™ Solutions Acquisition and Worldpay Minority Stake Sale

On January 9, 2026, the Company completed its planned acquisition of the Issuer Solutions Business, which has been rebranded as FIS Total Issuing™ Solutions, and simultaneous sale of its remaining 45% Worldpay minority stake. Accordingly, the Company has furnished unaudited historical pro forma financials for the combined company which can be found in our SEC filings.

Additionally, the Company is expanding its Banking Solutions segment revenue reporting to align with a new operating structure and to enhance financial disclosures. The Company’s reportable operating segments consist of Banking Solutions, inclusive of two divisions: “Payments” and “Banking,” and Capital Market Solutions. Historical segment results have been recast to reflect the segment realignment and supplemental data can be found in our SEC filings.

Fourth Quarter 2025 Financial Results

On a GAAP basis, revenue increased 8% as compared to the prior-year period to approximately $2.8 billion. GAAP net earnings attributable to common stockholders from continuing operations were $511 million or $0.98 per diluted share.

On an adjusted basis, revenue increased 7% as compared to the prior-year period, reflecting recurring revenue growth of 8%. Adjusted EBITDA increased 7% to approximately $1.2 billion, and Adjusted EBITDA margin contracted by 36 basis points (bps) compared to the prior-year period to 42.5%, reflecting a more normalized level of corporate expense as compared to the prior-year period. Adjusted net earnings from continuing operations were $874 million, and Adjusted EPS increased by 20% as compared to the prior-year period to $1.68 per diluted share.

($ millions, except per share data, unaudited)

Three Months Ended December 31,

Adjusted

Continuing Operations

2025

2024

Change

Growth

Banking Solutions Revenue

1,866

1,717

Capital Market Solutions Revenue

883

821

Operating Segment Total Revenue

2,749

2,538

Corporate and Other Revenue

Consolidated FIS Revenue

2,812

2,599

Adjusted EBITDA

1,196

1,115

Adjusted EBITDA Margin

42.5

42.9

(36) bps

Net Earnings (Loss) (GAAP)

511

304

68%

Diluted Earnings (Loss) Per Common Share (GAAP)

0.98

0.56

75%

Adjusted Net Earnings

874

754

16%

Adjusted EPS

1.68

1.40

20%

Full-Year 2025 Financial Results

On a GAAP basis, revenue increased 5% as compared to the prior year to approximately $10.7 billion. GAAP net earnings attributable to common stockholders from continuing operations were $382 million or $0.73 per diluted share, including $(539) million of non-cash expense to reflect an increase in our deferred tax liability arising from our agreement to sell our remaining interest in Worldpay that was recognized in the second quarter.

On an adjusted basis, revenue increased 6% as compared to the prior year, reflecting recurring revenue growth of 6%. Adjusted EBITDA increased 5% to approximately $4.3 billion, and Adjusted EBITDA margin contracted by 28 basis points (bps) compared to the prior year to 40.6%, primarily reflecting the short-term dilutive impact from strategic acquisitions and lower TSA income. Adjusted net earnings from continuing operations were $3.0 billion, and Adjusted EPS increased by 10% as compared to the prior year to $5.75 per diluted share.

($ millions, except per share data, unaudited)

Twelve Months Ended December 31,

Adjusted

Continuing Operations

2025

2024

Change

Growth

Banking Solutions Revenue

7,285

6,892

Capital Market Solutions Revenue

3,196

2,979

Operating Segment Total Revenue

10,481

9,871

Corporate and Other Revenue

196

256

(23)%

Consolidated FIS Revenue

10,677

10,127

Adjusted EBITDA

4,331

4,136

Adjusted EBITDA Margin

40.6

40.8

(28) bps

Net Earnings (Loss) (GAAP)

382

787

(51)%

Diluted Earnings (Loss) Per Common Share (GAAP)

0.73

1.42

(49)%

Adjusted Net Earnings

3,023

2,897

Adjusted EPS

5.75

5.22

10%

Segment Information

Balance Sheet and Cash Flows

As of December 31, 2025, debt outstanding totaled $13.1 billion. For the year, net cash provided by operating activities was $2.6 billion. Free cash flow was $1.6 billion, up 19%, and Adjusted free cash flow was $2.2 billion, an increase of 18% as compared to the prior year. For the year, the Company returned $2.1 billion of capital to shareholders through $1.3 billion of share repurchases and $847 million of dividends paid.

Capital Allocation

The Company repurchased $291 million of shares in the fourth quarter of 2025, resulting in total share repurchases of $1.3 billion for full-year 2025. Additionally, the Company will continue to pay quarterly dividends targeting dividend per share growth in line with Adjusted EPS growth. On January 29, 2026, FIS’ Board of Directors approved a 10% increase in the quarterly dividend to $0.44 per share.

Consistent with prior communications, the Company expects to temporarily pause share repurchases and tuck-in M&A to accelerate deleveraging. The Company expects to resume its existing capital allocation priorities once it has achieved its target gross leverage of 2.8x.

First Quarter and Full-Year 2026 Outlook

The Company is introducing its first quarter and full-year 2026 outlook, inclusive of 8 days of contribution from Worldpay equity method investment earnings (loss) (EMI) and 357 days of contribution from the Total Issuing™ Solutions acquisition. For the full-year, the Company is projecting Adjusted revenue growth of 30-31%, Adjusted EBITDA growth of 34-35% and Adjusted EPS growth of 8-10%. On a pro forma basis, revenue and Adjusted EBITDA are projected to grow by 5.1-5.7% and 7.2-8.4% respectively 2. Additionally, the Company is targeting Free Cash Flow 1 of $2.05 - $2.15 billion, or growth of 27-33% as compared to the prior year.

($ millions, except share data)

1Q 2026

FY 2026

Revenue

$3,270 - $3,290

$13,770 - $13,850

Adjusted EBITDA (Non-GAAP) 2

$1,275 - $1,290

$5,800 - $5,860

Adjusted EPS (Non-GAAP) 2

$1.26 - $1.30

$6.22 - $6.32

1Our 2026 Free Cash Flow outlook is excluding transaction taxes on Worldpay sale.

2The Company does not provide a reconciliation for non-GAAP estimates on a forward-looking basis where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort.

Webcast

FIS will host a live webcast of its earnings conference call with the investment community beginning at 8:30 a.m. (EST) on Tuesday, February 24, 2026. To access the webcast, go to the Investor Relations section of FIS’ homepage, www.investor.fisglobal.com. A replay will be available after the conclusion of the live webcast.

About FIS

FIS is a financial technology company providing solutions to financial institutions, businesses and developers. We unlock financial technology to the world across the money lifecycle underpinning the world's financial system. Our people are dedicated to advancing the way the world pays, banks and invests, by helping our clients to confidently run, grow and protect their businesses. Our expertise comes from decades of experience helping financial institutions and businesses of all sizes adapt to meet the needs of their customers by harnessing where reliability meets innovation in financial technology. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500® and the Standard & Poor’s 500® Index. To learn more, visit FISglobal.com. Follow FIS on LinkedIn, Facebook and X.

FIS Use of Non-GAAP Financial Information

Generally Accepted Accounting Principles (GAAP) is the term used to refer to the standard framework of guidelines for financial accounting in the United States. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing transactions and in the preparation of financial statements. In addition to reporting financial results in accordance with GAAP, we have provided certain non-GAAP financial measures.

These non-GAAP measures include constant currency revenue, Adjusted revenue growth, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net earnings, Adjusted EPS, Free cash flow, Adjusted free cash flow, Adjusted free cash flow conversion, Pro forma revenue, Pro forma revenue growth, Pro forma adjusted EBITDA, and Pro forma adjusted EBITDA margin. These non-GAAP measures may be used in this release and/or in the attached supplemental financial information.

We believe these non-GAAP measures help investors better understand the underlying fundamentals of our business. As further described below, the non-GAAP revenue and earnings measures presented eliminate items management believes are not indicative of FIS’ operating performance. The constant currency revenue and Adjusted revenue growth measures adjust for the effects of exchange rate fluctuations and exclude discontinued operations, while Adjusted revenue growth also excludes revenue from Corporate and Other, giving investors further insight into our performance. Finally, Free cash flow and Adjusted free cash flow provide further information about the ability of our business to generate cash. For these reasons, management also uses these non-GAAP measures in its assessment and management of FIS’ performance.

Constant currency revenue represents reported segment revenue excluding the impact of fluctuations in foreign currency exchange rates in the current period.

Adjusted revenue growth reflects the percentage change in constant currency revenue for the current period as compared to the prior period. Constant currency revenue is calculated by applying prior-year period foreign currency exchange rates to current-period revenue. When referring to Adjusted revenue growth, revenue from our Corporate and Other segment is excluded.

Adjusted EBITDA reflects net earnings (loss) before interest, other income (expense), taxes, equity method investment earnings (loss), and depreciation and amortization, and excludes certain costs that do not constitute normal, recurring, cash operating expenses necessary to operate our business. These excluded costs generally include purchase price amortization of acquired intangible assets, as well as acquisition, integration and certain other costs and asset impairments. These excluded costs are recorded in the Corporate and Other segment. Adjusted EBITDA for the respective segments excludes the foregoing items. This measure is reported to the chief operating decision maker, the Company's Chief Executive Officer and President, who utilizes the measure for purposes of making decisions about allocating resources to the segments and assessing their performance. For this reason, Adjusted EBITDA, as it relates to our segments, is presented in conformity with FASB ASC Topic 280, Segment Reporting.

Adjusted EBITDA margin reflects Adjusted EBITDA, as defined above, divided by revenue.

Adjusted net earnings excludes the effect of purchase price amortization, as well as certain costs that do not constitute normal, recurring, cash operating expenses necessary to operate our business. For purposes of calculating Adjusted net earnings, our equity method investment earnings (loss) ("EMI") from Worldpay is also adjusted to exclude certain costs and other transactions in a similar manner.

Adjusted EPS reflects Adjusted net earnings, as defined above, divided by weighted average diluted shares outstanding.

Free cash flow reflects net cash provided by operating activities from continuing operations, less capital expenditures (additions to property and equipment and additions to software from the statement of cash flows).

Adjusted free cash flow reflects Free cash flow, adjusted for the net change in settlement assets and obligations, and excludes cash payments for certain transactions that do not constitute normal, recurring operating expenses necessary to operate our business and are not indicative of future operating cash flows. Neither Free cash flow nor Adjusted free cash flow represents our residual cash flow available for discretionary expenditures since we have mandatory debt service requirements and other non-discretionary expenditures that are not deducted from the measure. Free cash flow and Adjusted free cash flow as presented in this earnings release exclude cash flow from discontinued operations.

Adjusted free cash flow conversion reflects Adjusted free cash flow, as defined above, divided by Adjusted net earnings, excluding the contribution from our equity method investment earnings (loss) ("EMI") from Worldpay.

Pro forma revenue includes reported revenue for FIS and Total Issuing™ Solutions combined for pre-acquisition periods.

Pro forma revenue growth represents pro forma revenue excluding the impact of fluctuations in foreign currency exchange rates in the current period as compared to the prior period pro forma revenue. When referring to pro forma revenue growth, revenue from our Corporate and Other segment is excluded.

Pro forma adjusted EBITDA reflects EBITDA for FIS and Total Issuing™ Solutions combined for pre-acquisition periods and excludes certain costs and other transactions which management deems non-operational in nature, such as purchase accounting amortization, acquisition, integration and severance costs and restructuring costs, the removal of which improves comparability of operating results across reporting periods.

Pro forma adjusted EBITDA margin reflects Pro forma adjusted EBITDA, as defined above, divided by Pro forma revenue.

Any non-GAAP measures should be considered in context with the GAAP financial presentation and should not be considered in isolation or as a substitute for GAAP measures. Further, FIS’ non-GAAP measures may be calculated differently from similarly titled measures of other companies. Reconciliations of these non-GAAP measures to related GAAP measures, including footnotes describing the adjustments, are provided in the attached schedules and in the Investor Relations section of the FIS website, www.investor.fisglobal.com.

Forward-Looking Statements

This earnings release and today’s webcast contain “forward-looking statements” within the meaning of the U.S. federal securities laws. Statements that are not historical facts, as well as other statements about our expectations, beliefs, intentions, or strategies regarding the future, or other characterizations of future events or circumstances, are forward-looking statements. Forward-looking statements include statements about anticipated financial outcomes, including any earnings outlook or projections, projected revenue or expense synergies or dis-synergies, business and market conditions, outlook, foreign currency exchange rates, deleveraging plans, expected dividends and share repurchases of the Company, the Company’s sales pipeline and anticipated profitability and growth, plans, strategies and objectives for future operations, strategic value creation, risk profile and investment strategies, any statements regarding future economic conditions or performance and any statements with respect to the future impacts of the recently completed acquisition of the Issuer Solutions Business, which has been rebranded as FIS Total Issuing™ Solutions. These statements may be identified by words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “will,” “should,” “could,” “would,” “project,” “continue,” “likely,” and similar expressions, and include statements reflecting future results or outlook, statements of outlook and various accruals and estimates. These statements relate to future events and our future results and involve a number of risks and uncertainties. Forward-looking statements are based on management’s beliefs as well as assumptions made by, and information currently available to, management.

Actual results, performance or achievement could differ materially from these forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include the following, without limitation:

Other unknown or unpredictable factors also could have a material adverse effect on our business, financial condition, results of operations and prospects. Accordingly, readers should not place undue reliance on these forward-looking statements. These forward-looking statements are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Except as required by applicable law or regulation, we do not undertake (and expressly disclaim) any obligation and do not intend to publicly update or review any of these forward-looking statements, whether as a result of new information, future events or otherwise.

Fidelity National Information Services, Inc.

Earnings Release Supplemental Financial Information

February 24, 2026

Exhibit A

Condensed Consolidated Statements of Earnings (Loss) - Unaudited for the three months and years ended December 31, 2025 and 2024

Exhibit B

Condensed Consolidated Balance Sheets - Unaudited as of December 31, 2025 and 2024

Exhibit C

Condensed Consolidated Statements of Cash Flows - Unaudited for the years ended December 31, 2025 and 2024

Exhibit D

Supplemental Non-GAAP Adjusted Revenue Growth - Unaudited for the three months and years ended December 31, 2025 and 2024

Exhibit E

Supplemental Disaggregation of Revenue - Recast and Unaudited for the three months and years ended December 31, 2025 and 2024

Exhibit F

Supplemental Non-GAAP Adjusted Free Cash Flow Measures - Unaudited for the three months and years ended December 31, 2025 and 2024

Exhibit G

Supplemental GAAP to Non-GAAP Reconciliations - Unaudited for the three months and years ended December 31, 2025 and 2024

Exhibit H

Supplemental Financial Information of Worldpay Holdco, LLC - Unaudited for the three and eleven months ended December 31, 2025

FIDELITY NATIONAL INFORMATION SERVICES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) — UNAUDITED

(In millions, except per share amounts)

Exhibit A

Three months ended

Years ended

December 31,

2025

2024

2025

2024

Revenue

2,812

2,599

10,677

10,127

Cost of revenue

1,736

1,622

6,741

6,323

Gross profit

1,076

977

3,936

3,804

Selling, general and administrative expenses

549

483

2,263

2,185

Asset impairments

Other operating (income) expense, net - related party

(16

)

(32

)

(86

)

(142

)

Operating income

529

494

1,741

1,709

Other income (expense):

Interest expense, net

(88

)

(67

)

(367

)

(250

)

Other income (expense), net

(10

)

(198

)

(162

)

Total other income (expense), net

(98

)

(565

)

(412

)

Earnings (loss) before income taxes and equity method investment earnings (loss)

431

487

1,176

1,297

Provision (benefit) for income taxes

146

265

362

Equity method investment earnings (loss), net of tax

166

(36

)

(526

)

(145

)

Net earnings (loss) from continuing operations

512

305

385

790

Earnings (loss) from discontinued operations, net of tax

—

(23

)

—

663

Net earnings (loss)

512

282

385

1,453

Net (earnings) loss attributable to noncontrolling interest from

continuing operations

)

Net earnings (loss) attributable to FIS

511

281

382

1,450

Net earnings (loss) attributable to FIS:

Continuing operations

511

304

382

787

Discontinued operations

—

(23

)

—

663

Total

511

281

382

1,450

Basic earnings (loss) per common share attributable to FIS:

Continuing operations

0.99

0.57

0.73

1.42

Discontinued operations

—

(0.04

)

—

1.20

Total

0.99

0.52

0.73

2.62

Diluted earnings (loss) per common share attributable to FIS:

Continuing operations

0.98

0.56

0.73

1.42

Discontinued operations

—

(0.04

)

—

1.19

Total

0.98

0.52

0.73

2.61

Weighted average common shares outstanding:

Basic

517

536

523

553

Diluted

519

540

525

555

Amounts in table may not sum or calculate due to rounding.

FIDELITY NATIONAL INFORMATION SERVICES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS — UNAUDITED

(In millions, except per share amounts)

Exhibit B

December 31,

2025

2024

ASSETS

Current assets:

Cash and cash equivalents

599

834

Settlement assets

515

479

Trade receivables, net

1,944

1,876

Other receivables

432

160

Receivables from related party

Prepaid expenses and other current assets

959

638

Current assets held for sale

—

1,115

Total current assets

4,488

5,186

Property and equipment, net

691

646

Goodwill

17,762

17,260

Intangible assets, net

959

1,318

Software, net

2,876

2,526

Equity method investment

3,681

3,858

Other noncurrent assets

1,710

1,749

Deferred contract costs, net

1,321

1,241

Total assets

33,488

33,784

LIABILITIES AND EQUITY

Current liabilities:

Accounts payable, accrued and other liabilities

2,097

1,994

Settlement payables

549

500

Deferred revenue

957

902

Short-term borrowings

2,729

636

Current portion of long-term debt

1,284

968

Current liabilities held for sale

—

1,094

Total current liabilities

7,616

6,094

Long-term debt, excluding current portion

9,069

9,686

Deferred income taxes

1,215

863

Other noncurrent liabilities

1,686

1,441

Total liabilities

19,586

18,084

Equity:

FIS stockholders’ equity:

Preferred stock $0.01 par value

—

Common stock $0.01 par value

Additional paid in capital

47,317

47,129

(Accumulated deficit) retained earnings

(22,718

)

(22,257

)

Accumulated other comprehensive earnings (loss)

(504

)

(364

)

Treasury stock, at cost

(10,202

)

(8,816

)

Total FIS stockholders’ equity

13,899

15,698

Noncontrolling interest

Total equity

13,902

15,700

Total liabilities and equity

33,488

33,784

FIDELITY NATIONAL INFORMATION SERVICES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS — UNAUDITED

(In millions)

Exhibit C

Years ended December 31,

2025

2024

Cash flows from operating activities from continuing operations:

Net earnings (loss)

385

1,453

Less earnings (loss) from discontinued operations, net of tax

—

663

Net earnings (loss) from continuing operations

385

790

Adjustments to reconcile net earnings (loss) from continuing operations to net cash provided by operating activities:

Depreciation and amortization

1,883

1,737

Amortization of debt issuance costs

Asset impairments

Loss on extinguishment of debt

—

174

Loss (gain) on sale of businesses, investments and other

119

Stock-based compensation

181

186

Loss from equity method investment

526

145

Deferred income taxes

(31

)

(204

)

Net changes in assets and liabilities, net of effects from acquisitions and foreign currency:

Trade and other receivables

(246

)

(94

)

Receivable from related party

(84

)

Settlement activity

Prepaid expenses and other assets

(135

)

(205

)

Deferred contract costs

(469

)

(509

)

Deferred revenue

Accounts payable, accrued liabilities and other liabilities

218

Net cash provided by operating activities

2,608

2,175

Cash flows from investing activities from continuing operations:

Additions to property and equipment

(154

)

(97

)

Additions to software

(835

)

(720

)

Settlement of net investment hedge cross-currency interest rate swaps

—

)

Acquisitions, net of cash acquired

(573

)

(514

)

Net proceeds from sale of businesses and investments

—

12,833

Cash divested from sale of business

(1,417

)

(3,150

)

Coupon payments on interest rate swaps

(112

)

(122

)

Distributions from equity method investments

147

Other investing activities, net

(98

)

(91

)

Net cash provided by (used in) investing activities

(3,042

)

8,178

Cash flows from financing activities from continuing operation:

Borrowings

55,428

25,430

Repayment of borrowings and other financing arrangements

(54,348

)

(33,175

)

Debt issuance costs

(30

)

Net proceeds from stock issued under stock-based compensation plans

Treasury stock activity

(1,425

)

(4,045

)

Dividends paid

(847

)

(800

)

Other financing activities, net

Net cash provided by (used in) financing activities

(1,179

)

(12,550

)

Cash flows from discontinued operations:

Net cash provided by (used in) operating activities

208

(104

)

Net cash provided by (used in) investing activities

—

(39

)

Net cash provided by (used in) financing activities

—

(65

)

Net cash provided by (used in) discontinued operations

208

(208

)

Effect of foreign currency exchange rate changes on cash from continuing operations

(31

)

Effect of foreign currency exchange rate changes on cash from discontinued operations

—

(32

)

Net increase (decrease) in cash, cash equivalents and restricted cash

(1,347

)

(2,468

)

Cash, cash equivalents and restricted cash, beginning of year

1,946

4,414

Cash, cash equivalents and restricted cash, end of year

599

1,946

FIDELITY NATIONAL INFORMATION SERVICES, INC.

SUPPLEMENTAL NON-GAAP ADJUSTED REVENUE GROWTH — UNAUDITED

(In millions)

Exhibit D

Three months ended December 31,

2025

2024

Constant

Currency

Adjusted

Revenue

Growth (1)

Banking Solutions

1,866

)

1,859

1,717

Capital Market Solutions

883

(17

)

866

821

Operating segment total

2,749

(23

)

2,725

2,538

Corporate and Other

)

Consolidated FIS

2,812

(24

)

2,787

2,599

Years ended December 31,

2025

2024

Constant

Currency

Adjusted

Revenue

Growth (1)

Banking Solutions

7,285

)

7,280

6,892

Capital Market Solutions

3,196

(29

)

3,166

2,979

Operating segment total

10,481

(35

)

10,446

9,871

Corporate and Other

196

—

195

256

Consolidated FIS

10,677

(35

)

10,641

10,127

Amounts in table may not sum or calculate due to rounding.

(1)

Adjusted growth excludes Corporate and Other, which includes certain non-strategic businesses.

FIDELITY NATIONAL INFORMATION SERVICES, INC.

SUPPLEMENTAL DISAGGREGATION OF REVENUE — RECAST AND UNAUDITED

(In millions)

Exhibit E

In the following tables, revenue is disaggregated by primary geographical market and type of revenue. The tables also include a reconciliation of the disaggregated revenue with the Company's reportable segments.

For the three months ended December 31, 2025 (in millions):

Banking

Solutions

Capital

Market

Solutions

Corporate and

Other

Total

Primary Geographical Markets:

North America

1,603

507

2,153

All others

263

376

659

Total

1,866

883

2,812

Type of Revenue:

Recurring revenue:

Transaction processing and services

1,378

394

1,805

Software maintenance

156

255

Other recurring

—

112

Total recurring

1,562

576

2,172

Software license

205

—

262

Professional services

124

222

Other non-recurring

123

156

Total

1,866

883

2,812

For the three months ended December 31, 2024 (in millions):

Banking

Solutions

Capital

Market

Solutions

Corporate and

Other

Total

Primary Geographical Markets:

North America

1,469

490

1,987

All others

248

331

612

Total

1,717

821

2,599

Type of Revenue:

Recurring revenue:

Transaction processing and services

1,275

382

1,706

Software maintenance

144

240

Other recurring

Total recurring

1,431

542

2,024

Software license

175

—

229

Professional services

146

103

250

Other non-recurring

Total

1,717

821

2,599

FIDELITY NATIONAL INFORMATION SERVICES, INC.

SUPPLEMENTAL DISAGGREGATION OF REVENUE — RECAST AND UNAUDITED

(In millions)

Exhibit E (continued)

For the year ended December 31, 2025 (in millions):

Banking

Solutions

Capital

Market

Solutions

Corporate and

Other

Total

Primary Geographical Markets:

North America

6,283

1,916

107

8,306

All others

1,002

1,280

2,371

Total

7,285

3,196

196

10,677

Type of Revenue:

Recurring revenue:

Transaction processing and services

5,412

1,578

146

7,136

Software maintenance

389

607

998

Other recurring

309

409

Total recurring

6,110

2,284

149

8,543

Software license

176

499

—

675

Professional services

522

385

912

Other non-recurring

477

547

Total

7,285

3,196

196

10,677

For the year ended December 31, 2024 (in millions):

Banking

Solutions

Capital

Market

Solutions

Corporate and

Other

Total

Primary Geographical Markets:

North America

5,893

1,839

117

7,849

All others

999

1,140

139

2,278

Total

6,892

2,979

256

10,127

Type of Revenue:

Recurring revenue:

Transaction processing and services

5,146

1,507

207

6,860

Software maintenance

362

576

940

Other recurring

244

309

Total recurring

5,752

2,145

212

8,109

Software license

196

431

628

Professional services

551

399

954

Other non-recurring

393

436

Total

6,892

2,979

256

10,127

FIDELITY NATIONAL INFORMATION SERVICES, INC.

SUPPLEMENTAL NON-GAAP ADJUSTED FREE CASH FLOW MEASURES — UNAUDITED

(In millions)

Exhibit F

Three months ended

Year ended

December 31, 2025

Net cash provided by operating activities

757

2,608

Capital expenditures

(324

)

(989

)

Free cash flow

433

1,619

Non-GAAP adjustments:

Acquisition, integration and other payments (1)

155

562

Settlement activity

(10

)

(14

)

Adjusted free cash flow

578

2,167

Three months ended

Year ended

December 31, 2024

Net cash provided by operating activities

782

2,175

Capital expenditures

(189

)

(817

)

Free cash flow

593

1,358

Non-GAAP adjustments:

Acquisition, integration and other payments (1)

114

475

Settlement activity

)

Adjusted free cash flow

702

1,831

(1)

Adjusted free cash flow for the three months and years ended December 31, 2025 and 2024, excludes cash payments for certain acquisition, integration and other costs (see Note 2 to Exhibit G), net of related tax impact. The related tax impact totaled $14 million and $25 million for the three months and $69 million and $87 million for years ended December 31, 2025 and 2024, respectively.

FIDELITY NATIONAL INFORMATION SERVICES, INC.

SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATIONS — UNAUDITED

(In millions, except per share amounts)

Exhibit G

Three months ended

December 31,

Years ended

December 31,

2025

2024

2025

2024

Net earnings (loss) attributable to FIS from continuing operations

511

304

382

787

Provision (benefit) for income taxes

146

265

362

Interest expense, net

367

250

Equity method investment (earnings) loss, net of tax

(166

)

526

145

Other, net

(59

)

201

165

Operating income (loss), as reported

529

494

1,741

1,709

Depreciation and amortization, excluding purchase accounting amortization

316

273

1,215

1,062

Non-GAAP adjustments:

Purchase accounting amortization (1)

151

173

668

675

Acquisition, integration and other costs (2)

186

143

689

624

Asset impairments (3)

Indirect Worldpay business support costs (4)

—

Adjusted EBITDA from continuing operations

1,196

1,115

4,331

4,136

Net earnings (loss) attributable to FIS from discontinued operations

—

(23

)

—

663

Provision (benefit) for income taxes

—

(68

)

—

(1,062

)

Interest expense, net

—

)

Other, net

—

)

Operating income (loss)

—

(92

)

(396

)

Depreciation and amortization, excluding purchase accounting amortization

—

Non-GAAP adjustments:

Acquisition, integration and other costs (2)

—

Loss on sale of disposal group (10)

—

578

Indirect Worldpay business support costs (4)

—

(14

)

Adjusted EBITDA from discontinued operations

—

)

184

Adjusted EBITDA

1,196

1,113

4,329

4,320

See notes to Exhibit G.

FIDELITY NATIONAL INFORMATION SERVICES, INC.

SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATIONS — UNAUDITED

(In millions, except per share amounts)

Exhibit G (continued)

Three months ended

December 31,

Years ended

December 31,

2025

2024

2025

2024

Earnings (loss) attributable to FIS from continuing operations

511

304

382

787

Equity method investment (earnings) loss, net of tax

(166

)

526

145

Earnings (loss) attributable to FIS from continuing operations, excluding equity method investment earnings (loss)

345

340

908

932

Non-GAAP adjustments from continuing operations:

Purchase accounting amortization (1)

151

173

668

675

Acquisition, integration and other costs (2)

186

143

709

624

Asset impairments (3)

Indirect Worldpay business support costs (4)

—

Non-operating (income) expense (5)

(60

)

198

162

Non-GAAP tax (provision) benefit (6)

(39

)

(73

)

Total non-GAAP adjustments from continuing operations

379

297

1,554

1,454

Adjusted net earnings attributable to FIS from continuing operations, excluding equity method investment earnings (loss)

724

637

2,462

2,386

Equity method investment earnings (loss), net of tax (7)

166

(36

)

(526

)

(145

)

Non-GAAP adjustments on equity method investment earnings (loss), net of related (provision) benefit for income taxes (7) (8)

(16

)

153

1,087

656

Adjusted equity method investment (earnings) loss (7)

150

117

561

511

Adjusted net earnings attributable to FIS from continuing operations

874

754

3,023

2,897

Earnings (loss) attributable to FIS from discontinued operations, net of tax

—

(23

)

—

663

Non-GAAP adjustments from discontinued operations:

Acquisition, integration and other costs (2)

—

Loss on sale of disposal group (10)

—

578

Indirect Worldpay business support costs (4)

—

(14

)

Amortization on long-lived assets held for sale (9)

—

(30

)

Non-operating (income) expense (5)

—

Non-GAAP tax (provision) benefit (6)

—

(67

)

—

(1,084

)

Total non-GAAP adjustments from discontinued operations

—

(531

)

Adjusted net earnings attributable to FIS from discontinued operations

—

)

—

132

Adjusted net earnings attributable to FIS common stockholders

874

751

3,023

3,029

Amounts in table may not sum or calculate due to rounding.

See notes to Exhibit G.

FIDELITY NATIONAL INFORMATION SERVICES, INC.

SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATIONS — UNAUDITED

(In millions, except per share amounts)

Exhibit G (continued)

Three months ended

December 31,

Years ended

December 31,

2025

2024

2025

2024

Earnings (loss) attributable to FIS from continuing operations

0.98

0.56

0.73

1.42

Equity method investment (earnings) loss, net of tax

(0.32

)

0.07

1.00

0.26

Earnings (loss) attributable to FIS from continuing operations, excluding equity method investment earnings (loss)

0.66

0.63

1.73

1.68

Non-GAAP adjustments from continuing operations:

Purchase accounting amortization (1)

0.29

0.32

1.27

1.22

Acquisition, integration and other costs (2)

0.36

0.26

1.35

1.12

Asset impairments (3)

0.03

0.06

0.03

0.09

Indirect Worldpay business support costs (4)

—

0.03

Non-operating (income) expense (5)

0.02

(0.11

)

0.38

0.29

Non-GAAP tax (provision) benefit (6)

0.03

0.02

(0.07

)

(0.13

)

Total non-GAAP adjustments from continuing operations

0.73

0.55

2.96

2.62

Adjusted net earnings attributable to FIS from continuing operations, excluding equity method investment earnings (loss)

1.39

1.18

4.69

4.30

Equity method investment earnings (loss), net of tax (7)

0.32

(0.07

)

(1.00

)

(0.26

)

Non-GAAP adjustments on equity method investment earnings (loss), net of related (provision) benefit for income taxes (7) (8)

(0.03

)

0.28

2.07

1.18

Adjusted equity method investment (earnings) loss (7)

0.29

0.22

1.07

0.92

Adjusted net earnings attributable to FIS from continuing operations

1.68

1.40

5.75

5.22

Earnings (loss) attributable to FIS from discontinued operations, net of tax

—

(0.04

)

—

1.19

Non-GAAP adjustments from discontinued operations:

Purchase accounting amortization (1)

—

Acquisition, integration and other costs (2)

—

0.02

Loss on sale of disposal group (10)

—

0.16

—

1.04

Indirect Worldpay business support costs (4)

—

(0.03

)

Amortization on long-lived assets held for sale (9)

—

(0.05

)

Non-operating (income) expense (5)

—

0.01

Non-GAAP tax (provision) benefit (6)

—

(0.12

)

—

(1.95

)

Total non-GAAP adjustments from discontinued operations

—

0.04

—

(0.96

)

Adjusted net earnings attributable to FIS from discontinued operations

—

(0.01

)

—

0.24

Adjusted net earnings attributable to FIS common stockholders

1.68

1.39

5.75

5.46

Weighted average shares outstanding diluted

519

540

525

555

Amounts in table may not sum or calculate due to rounding.

See notes to Exhibit G.

FIDELITY NATIONAL INFORMATION SERVICES, INC.

SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATIONS — UNAUDITED

(In millions, except per share amounts)

Exhibit G (continued)

Notes to Unaudited - Supplemental GAAP to Non-GAAP Reconciliations for the three months and years ended December 31, 2025 and 2024.

(1)

This item represents purchase price amortization expense on all intangible assets acquired through various Company acquisitions, including customer relationships, contract value, technology assets, trademarks and trade names. The Company has excluded the impact of purchase price amortization expense as such amounts can be significantly impacted by the timing and/or size of acquisitions. Although the Company excludes these amounts from its non-GAAP expenses, the Company believes that it is important for investors to understand that such intangible assets contribute to revenue generation. Amortization of assets that relate to past acquisitions will recur in future periods until such assets have been fully amortized. Any future acquisitions may result in the amortization of future assets.

(2)

This item represents costs comprised of the following:

Three months ended

Years ended

December 31,

2025

2024

2025

2024

Continuing operations:

Acquisition and integration

136

Enterprise transformation, including Future Forward and platform modernization

157

262

Severance and other termination expenses

247

Separation of the Worldpay Merchant Solutions business

148

Incremental stock compensation directly attributable to specific programs

Other, including divestiture-related expenses and enterprise cost control and other initiatives

Subtotal

186

143

689

624

Financing fees - Issuer Solutions acquisition (a)

—

Total

186

143

709

624

Discontinued operations:

Acquisition and integration

—

Enterprise transformation, including Future Forward and platform modernization

—

Severance and other termination expenses

—

Separation of the Worldpay Merchant Solutions business

—

Other, including divestiture-related expenses and enterprise cost control and other initiatives

—

Total from discontinued operations

—

Total consolidated

186

143

709

637

(a)

This item represents bridge facility fees incurred to secure funding for the pending Issuer Solutions business acquisition from Global Payments. These fees are recorded as a component of Interest expense, net on our consolidated statements of earnings (loss). Accordingly, this item is included in Acquisition, integration and other costs for purposes of calculating Adjusted net earnings but not Adjusted EBITDA.

There were no material impairments during the three months and year ended December 31, 2025. For the three months and year ended December 31, 2024, this item primarily includes an estimated loss recorded on the expected sale of a non-strategic business. For the year ended December 31, 2024, this item also includes impairments primarily related to the termination of certain internally developed software projects.

(4)

This item represents costs that were incurred in support of the Worldpay Merchant Solutions business prior to the separation but are not directly attributable to it and thus were not recorded in discontinued operations. The Company was being reimbursed for these expenses during 2025 as part of Transition Services Agreements with the buyer and/or eliminated them post separation; therefore, the expenses have been adjusted out of continuing operations and added to discontinued operations.

(5)

Non-operating (income) expense primarily consists of other income and expense items outside of the Company's operating activities, including fair value adjustments on certain non-operating assets and liabilities and foreign currency transaction remeasurement gains and losses. For the year ended December 31, 2025, earnings from continuing operations also includes a $108 million write down, triggered by the Worldpay Minority Interest Sale agreement, of the contingent consideration included as part of the 2024 sale of a 55% ownership interest in its Worldpay Merchant Solutions business (the "2024 Worldpay Sale"). For the year ended December 31, 2024, non-operating (income) expense from continuing operations also includes loss on extinguishment of debt of approximately $174 million relating to tender discounts and fees; the write-off of unamortized bond discounts, debt issuance costs and fair value basis adjustments; and gains on related derivatives instruments.

(6)

This adjustment is based on an average adjusted effective tax rate of 11% and 15.4% for the annual periods ended December 31, 2025 and 2024, respectively, which reflects adjustments to our GAAP effective tax rate to take into account primarily certain cash tax benefits from our equity method investment in Worldpay. For the year ended December 31, 2024, the Company recorded a tax benefit of $1.1 billion in its earnings from discontinued operations primarily from the write-off of U.S. deferred tax liabilities that were not transferred in the 2024 Worldpay Sale, net of the estimated U.S. tax cost that the Company expects to incur as a result of the 2024 Worldpay Sale. This adjustment includes the removal of the impact of this tax benefit from our earnings from discontinued operations for this period.

(7)

FIS completed the separation of Worldpay on January 31, 2024, retaining a non-controlling 45% ownership interest that is recorded under the equity method of accounting, net of investor-level tax. FIS' share of Worldpay's results under the equity method of accounting reflects activity beginning on February 1, 2024. Our investor-level tax benefit (expense) was $206 million and $(17) million for the three months ended December 31, 2025 and 2024, and $(307) million and $67 million for the year ended December 31, 2025, and the eleven months ended December 31, 2024, respectively. Our investor-level taxes for the three months and year ended December 31, 2025, include the impact of remeasurements of deferred tax liabilities and valuation allowances on our U.S. capital loss carryforward.

(8)

This item represents FIS' proportionate share of Worldpay's non-GAAP adjustments on its earnings (loss) consistent with FIS' non-GAAP measures and is comprised of the following:

Three months ended

December 31,

Year ended

December 31,

Eleven months ended

December 31,

2025

2024

2025

2024

FIS' share of Worldpay:

Purchase accounting amortization

157

165

632

607

Acquisition, integration and other costs (a)

153

182

Non-operating (income) expense

(48

)

(19

)

Non-GAAP tax (provision) benefit

(218

)

264

(114

)

Non-GAAP adjustments on equity method investment earnings (loss), net of related (provision) benefit for income taxes

(16

)

153

1,087

656

Amounts in table may not sum due to rounding.

(a)

Worldpay acquisition, integration, and other costs for the three months December 31, 2025 and 2024, year ended December 31, 2025, and eleven months ended December 31, 2024, consist primarily of transaction and transition costs related to the separation from FIS.

(9)

The Company stopped recording depreciation and amortization on the long-lived assets classified as held for sale beginning July 5, 2023. The amount of depreciation and amortization that would have been recorded in discontinued operations had these assets not been classified as held for sale has been deducted from adjusted net earnings for year ended December 31, 2024, for comparability purposes.

(10)

As a result of the 2024 Worldpay Sale, during the year ended December 31, 2024, we recorded a loss on sale of disposal group of $578 million, including the impact of post-closing adjustments recorded to date, $87 million of which were recorded in the fourth quarter.

FIDELITY NATIONAL INFORMATION SERVICES, INC.

SUPPLEMENTAL FINANCIAL INFORMATION OF WORLDPAY HOLDCO, LLC — UNAUDITED

(In millions)

Exhibit H

Summary Worldpay Holdco, LLC financial information is as follows:

Three months ended

December 31,

Year ended

December 31,

Eleven months ended

December 31,

2025

2024

2025

2024 (1)

Revenue

1,357

1,303

5,476

4,732

Gross profit

668

651

2,687

2,422

Earnings (loss) before income taxes

(89

)

(15

)

(434

)

(342

)

Net earnings (loss) attributable to Worldpay Holdco, LLC

(92

)

(13

)

(496

)

(444

)

FIS share of net earnings (loss) attributable to Worldpay Holdco, LLC, net of tax (2)

166

(36

)

(526

)

(145

)

The following is a GAAP to Non-GAAP reconciliation of Adjusted EBITDA for Worldpay Holdco LLC.

Three months ended

December 31,

Year ended

December 31,

Eleven months ended

December 31,

2025

2024

2025

2024 (1)

Net earnings (loss) attributable to Worldpay Holdco, LLC

(92

)

(13

)

(496

)

(444

)

Provision (benefit) for income taxes

)

Interest expense, net

144

136

581

545

Other, net

(105

)

(39

)

Operating income (loss)

233

160

Depreciation and amortization, excluding purchase accounting amortization

223

Non-GAAP adjustments:

Purchase accounting amortization

351

369

1,405

1,351

Transition, acquisition, integration and other costs (3)

340

404

Adjusted EBITDA

572

517

2,201

2,005

(1)

FIS completed the separation of Worldpay on January 31, 2024. Accordingly, Worldpay's results reflects activity beginning on February 1, 2024.

(2)

Amount includes our share of the net income attributable to Worldpay and our investor-level tax benefit (expense) of $206 million and $(17) million for the three months ended December 31, 2025 and 2024, and $(307) million and $67 million for the year ended December 31, 2025, and the eleven months ended December 31, 2024, respectively, as well as the impact of intra-entity eliminations. This is reported as equity method investment earnings (loss), net of tax on our consolidated statement of earnings. Our investor-level taxes for the three months and year ended December 31, 2025, include the impact of remeasurements of deferred tax liabilities and valuation allowances on our U.S. capital loss carryforward.

(3)

This item represents primarily transaction and transition costs associated with the separation of Worldpay from FIS.