Business/Financial Results (Form 8-K)

News Release

FIS Reports First Quarter 2026 Results and Reiterates Full-Year Outlook

•First quarter GAAP Diluted EPS of $4.58

•Adjusted EPS of $1.36 increased 12% over the prior year period

•Revenue increased 30% on a GAAP basis to $3.3 billion, increasing 31% on an adjusted basis and 6.5% on a Pro Forma basis

•Net cash provided by operating activities was $713 million and Free cash flow1 increased 111% over the prior-year period

•Reiterates full-year 2026 outlook, including Adjusted revenue growth of 30-31%, Adjusted EBITDA growth of 34-35%, Adjusted EPS growth of 8-10% and Free Cash Flow1 growth of 27-33%2

•Reiterates 2026 outlook for Pro Forma revenue growth of 5.1-5.7% and Pro Forma Adjusted EBITDA growth of 7.2-8.4%2

JACKSONVILLE, Fla., May 8, 2026 - FIS® (NYSE: FIS), a global leader in financial technology, today reported its first quarter 2026 results.

"We delivered a strong start to 2026, with disciplined execution driving margin expansion and robust cash flow generation," said FIS CEO and President Stephanie Ferris. "The market is strong, banks are investing, and the innovation that is redefining financial services runs through FIS. As evidenced by our recent announcements and partnerships, we are positioning ourselves at the forefront of this new era of modern banking."

First Quarter 2026 Financial Results

On a GAAP basis, revenue increased 30% as compared to the prior-year period to approximately $3.3 billion. GAAP net earnings attributable to common stockholders were $2.4 billion or $4.58 per diluted share, reflecting an estimated gain of $2.2 billion, net of tax, from the Worldpay Sale.

On an adjusted basis, revenue increased 31% as compared to the prior-year period. Adjusted EBITDA increased 36% to approximately $1.3 billion and Adjusted EBITDA margin expanded by 176 basis points (bps) compared to the prior-year period to 39.6%, reflecting the acquisition of the high margin Total Issuing Solutions™ business, favorable mix and cost savings. Adjusted net earnings were $705 million, and Adjusted EPS increased by 12% as compared to the prior-year period to $1.36 per diluted share.

On a Pro Forma basis, revenue increased 6.5% as compared to the prior-year period, including recurring revenue growth of 4.8%. Pro Forma adjusted EBITDA increased 9.4% and Pro Forma adjusted EBITDA margin expanded by 87 basis points (bps) compared to the prior-year period to 39.6%, reflecting favorable mix and cost savings.

($ millions, except per share data, unaudited)						Three Months Ended March 31,
																														%						Adjusted						Pro Forma
						2026												2025												Change						Growth						Growth**
Banking Solutions Revenue						2,374												1,633												45%						44%						7.7%
Capital Market Solutions Revenue						823												787												5%						3%						2.9%
Operating Segment Total Revenue						$			3,197									$			2,420									32%						31%						6.5%
Corporate and Other Revenue									98												112									(12)%						-						-
Consolidated FIS Revenue						$			3,295									$			2,532									30%						-						-
Adjusted EBITDA						$			1,304									$			958									36%						-						9.4%
Adjusted EBITDA Margin									39.6			%									37.8			%						176 bps						-						87 bps
Net Earnings (Loss) (GAAP)						$			2,366									$			77									*
Diluted Earnings (Loss) Per Common Share (GAAP)						$			4.58									$			0.15									*
Adjusted Net Earnings						$			705									$			643									10%
Adjusted EPS						$			1.36									$			1.21									12%
Free Cash Flow1						$			474									$			224									111%

*Indicates comparison not meaningful

**Pro Forma revenue growth and margins include 8 days of contribution from Total Issuing™ Solutions acquisition

Segment Information

• Banking Solutions:

First quarter revenue increased 45% on a GAAP basis and 44% on an adjusted basis as compared to the prior-year period to $2.4 billion. Adjusted EBITDA increased 56% to $1.0 billion and Adjusted EBITDA margin expanded by 299 basis points as compared to the prior-year period to 43.7%, reflecting the acquisition of the high margin Total Issuing Solutions™ business and strong margin expansion across FIS' core banking and payments businesses.

On a Pro Forma basis, revenue increased 7.7% as compared to the prior-year period, including recurring revenue growth of 5.2%. Pro Forma adjusted EBITDA increased 15.3% and Pro Forma adjusted EBITDA margin expanded by 243 basis points (bps) compared to the prior-year period to 43.7%, led by favorable mix and cost savings.

•Capital Market Solutions:

First quarter revenue increased by 5% on a GAAP basis and 3% on an adjusted basis as compared to the prior-year period to $823 million, reflecting recurring revenue growth of 3.6%. Adjusted EBITDA increased 8% to $424 million and Adjusted EBITDA margin expanded by 162 basis points as compared to the prior-year period to 51.6%, reflecting favorable mix and cost savings.

•Corporate and Other:

First quarter revenue decreased by 12% as compared to the prior-year period to $98 million. Adjusted EBITDA loss was $158 million, including $161 million of corporate expenses.

Balance Sheet and Cash Flows

First quarter net cash provided by operating activities was $713 million and Free cash flow1 was $474 million, up 111% as compared to the prior-year period. The Company returned $262 million of capital to shareholders through $30 million of share repurchases and $232 million of dividends paid. As of March 31, 2026, debt outstanding totaled $21.1 billion.

Capital Allocation

The Company will continue to pay quarterly dividends targeting dividend per share growth in line with Adjusted EPS growth.

Consistent with prior communications, the Company has temporarily paused 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.

Second Quarter and Full-Year 2026 Outlook

For the full-year, the Company is reiterating its outlook, 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% respectively2. Additionally, the Company is reiterating its target for Free Cash Flow1 of $2.05 - $2.15 billion, or growth of 27-33% as compared to the prior year.

($ millions, except share data)			2Q 2026						FY 2026
Revenue			$3,375 - $3,395						$13,770 - $13,850
Adjusted EBITDA (Non-GAAP)2			$1,395 - $1,415						$5,800 - $5,860
Adjusted EPS (Non-GAAP)2			$1.45 - $1.49						$6.22 - $6.32

1Our 2026 Free Cash Flow outlook is defined as Free cash flow excluding cash transaction taxes on the 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. (EDT) on Friday, May 8, 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 and Free cash flow excluding cash transaction taxes on the Worldpay sale.

Due to the financial impact of the acquisition of the Issuer Solutions Business, FIS is also providing additional information to improve the understanding of the Company's operating performance and has recalculated certain non-GAAP measures of the Company's historical financial performance on an adjusted combined company basis for the periods shown herein. This information includes Pro forma combined revenue, Pro forma combined revenue growth, Adjusted pro forma combined EBITDA and Adjusted pro forma combined EBITDA margin. The Company has derived certain pro forma measures from the unaudited pro forma condensed combined financial information of FIS and the Issuer Solutions Business and notes thereto prepared in accordance with Article 11 of Regulation S-X for the year ended December 31, 2025, in Exhibit 99.2 to the Company's Form 8-K/A filed on February 24, 2026.

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 Free cash flow excluding cash transaction taxes on the Worldpay sale 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 acquisition, integration and certain other costs and asset impairments. 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 pro forma combined 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 for FIS and Total Issuing Solutions™ combined for pre-acquisition periods and assumes the Issuer Solutions acquisition occurred on January 1, 2025, unless otherwise indicated. These excluded costs generally include acquisition, integration and certain other costs and asset impairments.

Adjusted pro forma combined EBITDA margin reflects Adjusted pro forma combined EBITDA, as defined above, divided by Pro forma combined revenue.

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).

Free cash flow excluding cash transaction taxes on the Worldpay sale reflects Free cash flow excluding cash transaction taxes on the Worldpay sale.

Pro forma combined revenue includes reported revenue for FIS and Total Issuing™ Solutions combined for pre-acquisition periods and assumes the Issuer Solutions acquisition occurred on January 1, 2025, unless otherwise indicated.

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

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.