Financial Data and Key Metrics Changes - Adjusted revenue grew 5.8% to $10.7 billion in 2025, with EBITDA increasing 4.7% and adjusted EPS rising 10.2% to $5.75 [22][24][29] - Q4 revenue growth accelerated to 7.4%, with EBITDA growing 7.3% and adjusted EPS increasing 20% [21][22] - Free cash flow grew 19% to $1.6 billion, with capital expenditures at 9.3% of revenue [22][30] Business Line Data and Key Metrics Changes - Banking solutions revenue grew 8.3% in Q4, driven by recurring revenue growth of 8.8% [23] - Capital markets adjusted revenue growth was 5.6%, with recurring revenue growth of 5.3% [24] - Digital solutions saw a 123% increase in recurring sales ACV, while payments and lending grew 70% and 62% respectively [18] Market Data and Key Metrics Changes - The banking industry is experiencing exceptional strength, with approximately $50 billion in announced M&A in 2025 [9] - Analysts project financial services tech spending will increase roughly 30% by 2029 [9] - The number of large financial institutions (LFIs) has grown by 56% over the past 10 years, with tech spending increasing to 11% of their revenue [11] Company Strategy and Development Direction - The company is focused on transforming and simplifying its portfolio, including divesting its merchant-focused business and acquiring a market leader in credit issuing [6][7] - The strategy emphasizes partnering with banks that are growing faster than the market, particularly in payments, digital, and lending [10] - The company aims to double its cash flow to over $3 billion in three years [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth prospects of the financial services industry and FIS's ability to grow alongside it [6] - The integration of Total Issuing Solutions is expected to enhance the company's financial profile and reinforce durable recurring revenue growth [21] - The company anticipates free cash flow of over $2 billion in 2026, growing 27%-33% year-on-year [30] Other Important Information - The company returned $2.1 billion to shareholders, exceeding capital allocation commitments, and increased the annual dividend by 10% [22] - The integration of Total Issuing Solutions is tracking well, with expected revenue and expense synergies of $45 million and $125 million in three years, respectively [13] Q&A Session Summary Question: AI's impact on FIS's core functions - Management views AI as a strategic accelerant and believes FIS has durable advantages due to proprietary datasets and regulatory compliance [41][42][44] Question: Shift to higher quality recurring revenue in capital markets - Management expects to see a continued increase in recurring revenue, with mid to high single-digit growth anticipated in 2026 [49][51] Question: Competitive dynamics in issuer processing - Management highlighted the strength of their product capabilities and relationships with large financial institutions as key competitive advantages [55][58] Question: Growth drivers in the banking segment - Management noted broad-based demand across products, particularly in core capabilities, payments, and digital solutions [72][74]

Financial Data and Key Metrics Changes - Adjusted revenue grew 5.8% to $10.7 billion for the full year, with Q4 revenue growth accelerating to 7.4% [22][24] - EBITDA for the full year grew 4.7%, with Q4 EBITDA growth at 7.3% [22][21] - Adjusted EPS increased 20% in Q4 and 10.2% for the full year, reaching $5.75 [22][8] - Free cash flow grew 19% to $1.6 billion, with a cash conversion rate of 88% [22][30] Business Line Data and Key Metrics Changes - Banking solutions revenue grew 8.3% in Q4, with recurring revenue growth of 8.8% [24][21] - Capital markets adjusted revenue growth was 5.6%, with recurring revenue growth of 5.3% [24][25] - Digital solutions saw a 123% increase in recurring sales ACV, payments grew 70%, and lending grew 62% [18][19] Market Data and Key Metrics Changes - The banking industry is experiencing exceptional strength, with approximately $50 billion in announced M&A in 2025 [9][11] - Analysts project financial services tech spending will increase roughly 30% by 2029 [9] - The number of large financial institutions (LFIs) has grown by 56% over the past 10 years, with tech spending increasing to 11% of their revenue [11] Company Strategy and Development Direction - The company is focused on transforming and simplifying its portfolio, including divesting its merchant-focused business and acquiring a market leader in credit issuing [6][7] - The strategy emphasizes partnering with banks that are growing faster than the market, particularly in payments, digital, and lending [10][11] - The company aims to double its cash flow to over $3 billion in three years [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth prospects of the financial services industry and FIS's ability to grow alongside it [6][9] - The integration of Total Issuing Solutions is expected to enhance the company's financial profile and recurring revenue growth [21][30] - The company anticipates free cash flow of over $2 billion in 2026, growing 27%-33% year-on-year [30][36] Other Important Information - The company returned $2.1 billion to shareholders through buybacks and increased the annual dividend by 10% [22][21] - The acquisition of Total Issuing Solutions is expected to generate significant synergies, with targets of $45 million in revenue and $125 million in expense synergies over three years [13][29] Q&A Session Summary Question: AI's impact on FIS's core functions - Management views AI as a strategic accelerant and believes their systems of record provide a durable advantage due to proprietary datasets and regulatory integration [41][42][44] Question: Shift in capital markets to recurring revenue - Management expects the shift to higher quality recurring revenue to continue, with mid to high single-digit growth anticipated in 2026 [48][50] Question: Competitive dynamics in issuer processing - Management highlighted the strength of their product capabilities and relationships with large financial institutions as key competitive advantages [53][54][56] Question: Growth drivers in the banking segment - Management noted broad-based demand across products, particularly in core capabilities, payments, and digital solutions, contributing to above-trend performance [70][72]

Financial Data and Key Metrics Changes - Adjusted revenue grew 5.8% to $10.7 billion for the full year, with Q4 revenue growth accelerating to 7.4% [21][20] - EBITDA for the full year grew 4.7%, with Q4 EBITDA growth at 7.3% [21][20] - Adjusted EPS increased 10.2% for the year, reaching $5.75, and grew 20% in Q4 [21][20] - Free cash flow increased 19% to $1.6 billion, with a cash conversion rate of 88% [21][20] Business Line Data and Key Metrics Changes - Banking solutions revenue grew 8.3% in Q4, with recurring revenue growth of 8.8% [23][20] - Capital markets adjusted revenue growth was 5.6%, with recurring revenue growth of 5.3% [24][20] - Digital solutions saw a 123% increase in recurring sales ACV, payments grew 70%, and lending grew 62% [18] Market Data and Key Metrics Changes - The banking industry is experiencing exceptional strength, with approximately $50 billion in announced M&A in 2025 [7] - Analysts project financial services tech spending will increase roughly 30% by 2029 [7] - The number of large financial institutions (LFIs) has grown by 56% over the past 10 years, with tech spending increasing to 11% of their revenue [10] Company Strategy and Development Direction - The company is focused on transforming and simplifying its portfolio by divesting its merchant-focused business and acquiring a market leader in credit issuing [5] - The strategy emphasizes partnering with banks that are growing faster than the market, particularly in payments, digital, and lending [9] - The company aims to double its cash flow to over $3 billion in three years [6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth prospects of the financial services industry and FIS's ability to grow alongside it [5] - The company is well-positioned to capitalize on the convergence of banking strength, aggressive growth agendas, and the mainstream adoption of AI [7] - Management highlighted the importance of proprietary datasets and deep client relationships as competitive advantages [9] Other Important Information - The company returned $2.1 billion to shareholders, exceeding capital allocation commitments, and increased the annual dividend by 10% [22][20] - The integration of the Total Issuing Solutions business is tracking well, with expected revenue and expense synergies of $45 million and $125 million in three years, respectively [12] Q&A Session Summary Question: AI's impact on FIS's core functions - Management views AI as a strategic accelerant rather than a risk, emphasizing the durability of their systems of record and proprietary data advantages [39][40][41] Question: Shift to higher quality recurring revenue in capital markets - Management expects to see a continued increase in recurring revenue, with capital markets projected to grow mid to high single digits in 2026 [47][49] Question: Competitive dynamics in issuer processing - Management highlighted the strength of their product capabilities and relationships with large financial institutions as key competitive advantages [52][54][56] Question: Growth drivers in the banking segment - Management noted broad-based demand across products, particularly in core capabilities, payments, digital, and lending, contributing to above-trend performance [69][72]

Fourth Quarter 2025 Earnings Call February 24, 2026 Confidential and Proprietary Disclosures Forward-looking Statements Our discussions today, including this presentation and any comments made by management, contain "forward-looking statements" within the meaning of the U.S. federal securities laws. Any statements that refer to future events or circumstances, including our future strategies or results, or that are not historical facts, are forward-looking statements. Actual results could differ materially f ...

Exhibit 99.1 FIS Reports Full-Year 2025 Results and Introduces 2026 Outlook JACKSONVILLE, Fla., February 24, 2026 - 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 ...

Group 1 - The FIS Bright Portfolios Focused Equity ETF (NYSE: BRIF) has reconvened a special meeting of shareholders to approve a reorganization into FIS Trust, as recommended by the Fund's Board of Trustees [1] - Shareholders have approved the reorganization, which is expected to be completed around February 23, 2026, pending customary closing conditions [1] - The reorganization will be based on the relative net asset values of the Fund's shares at the time and is anticipated to be a non-taxable event [1] Group 2 - The press release clarifies that it does not constitute an offer to purchase or sell shares of BRIF, nor is it soliciting proxies from shareholders [1] - Detailed information regarding the reorganization will be available in the final registration statement, including the definitive proxy statement/prospectus declared effective by the U.S. Securities and Exchange Commission [1] - Fund shareholders are encouraged to read the proxy statement/prospectus for important information about the proposed reorganization [1]

Core Insights - Fidelity National Information Services, Inc. (FIS) is scheduled to report its fourth-quarter 2025 results on February 24, 2026, with earnings estimated at $1.69 per share and revenues at $2.74 billion [1][4] Financial Performance Estimates - The fourth-quarter earnings estimate has seen two downward revisions in the past 30 days, indicating a 20.7% year-over-year increase in earnings and a 5.4% increase in revenues [2][4] - For the full year 2025, the revenue estimate is $10.59 billion, reflecting a 4.6% year-over-year rise, while the EPS estimate is $5.77, indicating a growth of approximately 10.5% year-over-year [4] Earnings Prediction Model - The current model does not predict an earnings beat for FIS, with an Earnings ESP of -0.37% and a Zacks Rank of 3 (Hold) [5] Revenue Breakdown - Q4 revenues are expected to show growth in Banking Solutions and Capital Market Solutions, with increases of 6.4% and 6.6% year-over-year, respectively [8][9] - Total recurring revenues are projected to increase by 7.9% in the upcoming quarter, with North America and All Other revenues expected to grow by 6.5% and 0.5% year-over-year, respectively [9] EBITDA Projections - The adjusted EBITDA for 2025 is projected to be between $4.33 billion and $4.345 billion, with an anticipated margin of around 40.9% [8][11] - The adjusted EBITDA for Capital Market Solutions is expected to grow by 6% year-over-year, while Banking Solutions is projected to see a 10.9% increase [10]

Core Viewpoint - Fidelity National Information Services (FIS) is expected to report quarterly earnings of $1.69 per share, reflecting a 20.7% increase year-over-year, with revenues projected at $2.74 billion, a 5.4% increase compared to the previous year [1]. Earnings Estimates - The consensus EPS estimate has been revised down by 0.2% in the last 30 days, indicating a reassessment by analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, as empirical research shows a strong correlation between earnings estimate revisions and short-term stock performance [3]. Revenue Projections - Analysts estimate 'Revenue- Banking Solutions' at $1.83 billion, a year-over-year increase of 6.4% [5]. - 'Revenue- Capital Market Solutions' is expected to reach $874.74 million, reflecting a 6.6% year-over-year increase [5]. - 'Revenue- Corporate and Other' is projected at $44.78 million, indicating a significant decline of 26.6% from the previous year [5]. - The consensus estimate for 'Revenue- Total Recurring' stands at $2.18 billion, showing a year-over-year increase of 7.9% [6]. EBITDA Estimates - Analysts project 'Adjusted EBITDA- Banking Solutions' to be $810.47 million, up from $731.00 million reported in the same quarter last year [6]. - 'Adjusted EBITDA- Capital Market Solutions' is forecasted to reach $479.95 million, compared to $453.00 million in the same quarter of the previous year [7]. Stock Performance - Shares of Fidelity National have decreased by 19.8% over the past month, contrasting with a 0.8% decline in the Zacks S&P 500 composite [7].

Group 1 - Fidelity National Information Services (NYSE:FIS) is identified as one of the 12 oversold financial stocks to invest in according to hedge funds [1] - The price target on Fidelity National Information Services was reduced from $70 to $69 by Truist analyst Matthew Coad, who maintained a Hold rating on the stock [1] - Stephens analyst Charles Nabhan reduced the price target from $90 to $85 while reaffirming a Buy rating, indicating an upside potential of almost 82% [3][4] Group 2 - Analysts expect attractive results for Fidelity National Information Services in the fourth quarter, although a difficult annual comparison may limit upside surprises [1] - The outlook for the Financial Technology segment in 2026 is anticipated to improve investor sentiment for the Payments and IT Services sector [4] - Fidelity National Information Services provides a range of fintech solutions including online banking, risk management, and treasury solutions to financial institutions and enterprises globally [5]

Industry Overview - The Financial Transaction Services industry is part of the broader FinTech space, encompassing card and payment processing, ATM services, money remittance, and investment solutions for financial advisors [2] - The industry benefits from ongoing digitization accelerated by the pandemic, facilitating quick and secure monetary transactions across multiple currencies globally [2] Key Growth Drivers - Expanding global trade, rising international travel, and increasing demand for cross-border payments and remittances are key factors driving growth in the industry [5] - Continued e-commerce growth and a resilient labor market are sustaining transaction volumes, although inflation and tariff pressures may strain consumer budgets [1][4] Technology Investments - Companies are significantly increasing technology expenditures to enhance digital infrastructure, including investments in biometric authentication, QR-code payments, and Buy Now, Pay Later (BNPL) platforms [3] - The rise in digital payments has led to increased exposure to cyber threats, prompting companies to invest heavily in cybersecurity and fraud detection systems [3] Strategic Mergers and Acquisitions - Companies in the sector are engaging in strategic mergers and acquisitions to strengthen digital ecosystems, expand service offerings, and enhance global reach [6][7] - Expectations for interest rate cuts in 2026 may encourage companies to utilize debt financing for M&A activities, allowing them to pursue growth opportunities while preserving cash [7] Consumer Spending Trends - Stable consumer spending supports higher transaction volumes, although persistent inflation may lead to more cautious spending behavior [4] - A resilient labor market with low unemployment and steady wage growth could help sustain consumer purchasing activity in the near term [4] Industry Performance - The Zacks Financial Transaction Services industry has underperformed compared to the Business Services sector and the S&P 500, declining 24.3% over the past year [11] - The industry's current valuation is at a forward 12-month price/earnings ratio of 18.15X, lower than the S&P 500's 22.51X [15] Notable Companies - **Global Payments**: Positioned for growth with strong performances in Merchant and Issuer Solutions, benefiting from increasing transaction volumes [18] - **Visa**: A major player in digital payments, expanding through strategic alliances and acquisitions, with a focus on technology investment [23] - **Mastercard**: Operates a multi-rail infrastructure for seamless payments, with a strong cross-border payments platform [26] - **Fiserv**: Maintains a competitive position in digital payments with a broad portfolio and strategic acquisitions [30] - **Fidelity National**: Achieving solid revenue growth through Banking and Capital Markets Solutions, with a strategic international footprint [34]