NCR : Atleos Investor Day Slides

Investor Day

September 5, 2023

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Forward-Looking Statements

FORWARD-LOOKING STATEMENTS. NCR Atleos LLC ("NCR Atleos," "Atleos" or the "Company"), cautions that comments made during this presentation and in these materials contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements use words such as "expect," "target," "anticipate," "outlook," "intend," "plan," "confident," "believe," "will," "would," "potential," "positioned," "may," and words of similar meaning, as well as other words or expressions referencing future events, conditions or circumstances. We intend 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, or financial outlook, and statements that do not relate to historical or current fact, are examples of forward-looking statements. Examples of forward-looking statements in these materials include, without limitation, statements regarding the planned separation of the Company from NCR Corporation, to be renamed NCR Voyix ("NCR Voyix"), into an independent public company including, but not limited to, the future commercial or financial performance of the Company following such planned transaction, and value creation and ability to innovate and drive growth generally as a result of such transaction; the expected financial performance of the Company for year-end 2023 and targets for 2027; the expected manufacturing volume for the Company and optimization in fixed costs and working capital trends for year-end 2023; the expected hardware margin expansion for the Company through 2027; the Company's net leverage ratio targets for year-end 2024 and long-term; our expectations of demand for our solutions and execution, and the impact thereof on our financial results in 2023; our expected areas of focus and strategy to drive growth and profitability and create longterm stockholder value, including key performance indicator targets and expectations for 2023 and year-end 2027; our expectations regarding compound annual growth rate ("CAGR"), including CAGR targets for our key drivers for 2023 through 2027; expectations regarding the growing total addressable market and growing market opportunity for the Company, including expectations regarding growing cash withdrawal rates and cardholder adoption of branded ATMs through 2027; the Company's focus on advancing strategic growth initiatives and transforming the Company into a software-ledATM-as-a-service company with a higher mix of recurring revenue streams, including the Company's focus on driving efficiencies and standardizing cloud-native service offerings; statements regarding redeployment priorities, and future capital allocation priorities and our expected free cash flow for 2027; expectations regarding future dividend payout ratios; and our expectations of NCR Atleos' ability to deliver increased value to customers and stockholders.

Forward-looking statements are based on our current beliefs, expectations and assumptions, which may not prove to be accurate, and involve a number of known and unknown risks and uncertainties, many of which are out of the Company's control, including factors related to the risk of an unexpected failure to complete, or unexpected delays in completing, the necessary actions for the planned spin-off or to obtain the necessary approvals or third party consents to complete these actions, the failure of NCR Atleos to achieve some or all of the expected strategic benefits or opportunities expected from the spin-off, that NCR Atleos may incur material costs and expenses as a result of the spin-off, that NCR Atleos has no history operating as an independent, publicly traded company, and NCR Atleos's historical and pro forma financial information is not necessarily representative of the results that it would have achieved as a separate, publicly traded company and therefore may not be a reliable indicator of its future results, NCR Atleos's obligation to indemnify NCR Voyix pursuant to the agreements entered into connection with the spin-off (including with respect to material taxes) and the risk NCR Voyix may not fulfill any obligations to indemnify NCR Atleos under such agreements, that under applicable tax law, NCR Atleos may be liable for certain tax liabilities of NCR Voyix following the spin-off if NCR Voyix were to fail to pay such taxes, that agreements binding on NCR Atleos restrict it from taking certain actions after the distribution that could adversely impact the intended U.S. federal income tax treatment of the distribution and related transactions, potential liabilities arising out of state and federal fraudulent conveyance laws, the fact that NCR Atleos may receive worse commercial terms from third-parties for services it presently receives from NCR Voyix, that after the spin-off, certain of NCR Atleos's executive officers and directors may have actual or potential conflicts of interest because of their previous positions at NCR Voyix, potential difficulties in maintaining relationships with key personnel, NCR Atleos will not be able to rely on the earnings, assets or cash flow of NCR Voyix and NCR Voyix will not provide funds to finance NCR Atleos's working capital or other cash requirements. Forward-looking statements are not guarantees of future performance, and there are a number of important factors that could cause actual outcomes and results to differ materially from the results contemplated by such forward-looking statements. As you read and consider this presentation, you should understand that these statements are not guarantees of performance or results. Although the Company believes that assumptions underlying the forward-looking statements contained herein are reasonable should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, any of these statements included herein may prove to be inaccurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be

regarded as a representation by us or any other person that the results or conditions described in such statements or our objectives and plans will be achieved. You should not place undue reliance on forward-
looking statements, which speak only as of the date they are made. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and
uncertainties. Additional information concerning these and other factors can be found in the Company's filings with the U.S. Securities and Exchange Commission ("SEC"), including the Company's registration
statement on Form 10 and amendments thereto, the final information statement, included as an exhibit to the Company's current report on Form 8-K filed with the SEC on August 15, 2023, and quarterly reports on
Form 8-K. These materials are dated September 5, 2023, and neither the Company nor its advisors undertakes any obligation to publicly update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law. You should read this presentation with the understanding that the Company's actual future results, levels of activity, performance and events and
circumstances may be materially different from the Company's expectations.	2

Notes to Investors

SEGMENTS AND PRO-FORMA FINANCIAL INFORMATION. Following the completion of the planned separation from NCR Voyix, the Company plans to manage its business in a manner that is expected to result in the Company having three reportable segments as identified in these materials --Self-Service Banking, Payments & Network, and Telecommunications and Technology. There are certain revenue transactions that will be reported in multiple reportable segments and eliminated to reconcile to total NCR Atleos.. All historic NCR Atleos information provided in this presentation reflects the segment structure described above and gives effect to the planned separation from NCR Voyix as if it had occurred on the dates indicated. The NCR Atleos financial information provided in this presentation consists of estimates of NCR Atleos' operations and financial results upon its planned separation and reflects transactions related to the planned separation, subject to the assumptions and adjustments described in this presentation and in NCR Atleos' Form 10, and should be read in conjunction with the unaudited pro forma combined financial statements included in NCR Atleos' Form 10. NCR Atleos' management believes these assumptions and adjustments are reasonable under the circumstances given the information available at this time.

PROJECTIONS. These materials contain projections based on management's current expectations and were based upon numerous estimates or expectations, beliefs, opinions and assumptions with respect to NCR Atleos's business, including its results of operations and financial condition, and with respect to general business, economic, market, regulatory and financial conditions and other future events, all of which are difficult to predict and many of which are beyond NCR Atleos's control and may not prove to be accurate. The projections also cover multiple years and such information by its nature becomes less reliable with each successive quarter and year. For further discussion regarding the risks inherent in evaluating forward-looking statements such as the projections in these materials, please see the disclaimers above under the heading "Forward-Looking Statements." The projections contained in these materials are not a guarantee of future performance and the future financial results of NCR Atleos may materially differ from those expressed herein, in particular due to factors that are beyond NCR Atleos's ability to control or predict.

MARKET AND INDUSTRY DATA. Unless indicated otherwise, the information concerning our industry contained in this presentation is based on the Company's general knowledge of and expectations concerning the industry. The Company's market position, market share and industry market size are based on estimates using our internal data and estimates, based on data from various industry analyses, our internal research and adjustments and assumptions that we believe to be reasonable. The Company has not independently verified data from industry analyses and cannot guarantee their accuracy or completeness. In addition, we believe the data regarding the industry, market size, market share and our market position within such industry provide general guidance but are inherently imprecise. Further, our estimates and assumptions involve risks and uncertainties and are subject to change based on various factors. These and other factors could cause results to differ materially from those expressed in the estimates and assumptions.

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 these materials will include or make reference to certain "non-GAAP" measures, including selected measures such as adjusted EBITDA, adjusted EBITDA margin, adjusted EBITDA CAGR, net debt, net leverage ratio, and free cash flow. This presentation also discusses targeted adjusted EBITDA, adjusted EBITDA margin, and adjusted EBITDA CAGR growth. 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 Atleos' 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. This data should be read in conjunction with NCR Atleos' registration statement on Form 10, as amended, filed with the SEC. 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, reconciliations of these non-GAAP measures to their respective most directly comparable GAAP measures, as well as a statement of usefulness and purpose of each such measure are included in the accompanying "Supplementary Information" unless noted therein and are included in NCR Atleos' registration statement on Form 10.

These presentation materials and the associated remarks made during this presentation are integrally related and are intended to be presented and understood together.

TRADEMARKS. All trademarks, service marks and trade names appearing in this presentation are, to our knowledge, the property of their respective owners. We do not intend our use or display of other companies' trademarks, service marks, copyrights or trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies.

FUTURE DIVIDENDS. These materials contain statements about expected future dividends and the expected future dividend policy of NCR Atleos. We cannot assure you that our dividend policy will remain the same in the future, or that any expected dividends described herein will be paid or sustained if NCR Atleos commences paying dividends at all. The payment of any dividends in the future to our stockholders, and the timing and amount thereof, will fall within the sole discretion of the NCR Atleos Board of Directors and will depend on many factors, such as our financial condition, earnings, capital requirements, potential obligations in planned financings, industry practice, legal requirements (including Maryland distribution requirements) and other factors that the NCR Atleos Board of Directors deems relevant. NCR Atleos's ability to pay dividends will depend on its ongoing ability to generate cash from operations and on NCR Atleos's access to the capital markets. For further discussion regarding the risks inherent in evaluating forward-looking statements such as our statements in these materials about expected dividend payments, please see the disclaimers above under the heading "Forward-Looking Statements."

NOT AN OFFER. The information in this presentation is for informational purposes only and shall not constitute, or form a part of, an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities.

3

Strategic

Overview

Tim Oliver, Chief Executive Officer

Stuart Mackinnon, Chief Operating Officer

Paul Campbell, Chief Financial Officer

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Agenda

Welcome

Opening Remarks

Strategic Overview

Foundational ATM

Network & ATMaaS

Financial Overview

Closing Remarks

Q&A

Supplementary Materials

Michelle Morris,

Communications Leader

Michael Hayford, NCR CEO

Tim Oliver, CEO

Len Graves, EVP Global Operations

Patty Watson, CITO

Stuart Mackinnon, COO

Diego Navarrete, EVP Global Sales

Paul Campbell, CFO

Tim Oliver, CEO

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