Unisys (UIS) Earnings Call Presentation

Capital Structure and Debt Transaction - The company issued $700 million of senior secured notes due January 15, 2031, with a coupon of 10625%[20] - The company refinanced $485 million of existing notes and extended the asset-backed revolver[10] - A $250 million contribution was made to the U S Qualified Defined Benefit (QDB) plan, including $50 million from balance sheet cash[11, 20] Pension Plan Management - The company reallocated U S QDB plan assets to reduce volatility[12, 23] - The company is planning for $600 million of annuity purchases by year-end 2026 to reduce the cost of full removal of U S QDB plans[34] - The company expects approximately $35 million average annual reduction in required contributions in 2026-2029 to U S QDB Pension Plans[35] Financial Impact - The transaction swaps $200 million of pension deficit with funded debt[22] - The company anticipates approximately $70 million aggregate cash flow benefit (~$14M average annual benefit) for the 5-year period of 2025-2029[35] - The company's target asset allocation is 90% in the Liability Hedging Portfolio and 10% in the Growth Portfolio[24]