Fourth Quarter 2012 Financial Results Conference Call

February 5, 2013

Forward-Looking Statements and Non-GAAP Financial Measures

The information disclosed in this presentation contains forward-looking statements, including statements regarding the companys expected adjusted revenue, adjusted internal revenue, adjusted EPS, free cash flow, free cash flow per share, and adjusted operating margin. Statements can generally be identified as forward-looking because they include words such as believes, anticipates, expects, could, should or words of similar meaning. Statements that describe the companys future plans, objectives or goals are also forward-looking statements. Forward-looking statements are subject to assumptions, risks and uncertainties that may cause actual results to differ materially from those contemplated by such forward-looking statements. The factors that may affect the companys results include, among others: the impact on the companys business of the current state of the economy, including the risk of reduction in revenue resulting from decreased spending on the products and services that the company offers; legislative and regulatory actions in the United States and internationally, including the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act and related regulations; the companys ability to successfully integrate acquisitions, including Open Solutions Inc., into its operations; changes in client demand for the companys products or services; pricing or other actions by competitors; the impact of the companys strategic initiatives; the companys ability to comply with government regulations, including privacy regulations; and other factors included in the companys filings with the SEC, including its Annual Report on Form 10 -K for the year ended December 31, 2011 and in other documents that the company files with the SEC. You should consider these factors carefully in evaluating forward-looking statements and are cautioned not to place undue reliance on such statements. The company assumes no obligation to update any forward-looking statements, which speak only as of the date of this presentation. This presentation includes the following non-GAAP financial measures: adjusted revenue, adjusted internal revenue, adjusted EPS, free cash flow, free cash flow per share, adjusted operating margin and adjusted operating income. These non-GAAP measures are indicators that management uses to provide additional comparisons between current results and prior reported results and as a basis for planning and forecasting future periods. We believe that these measures provide additional insight into our operating performance. The companys prior year free cash flow has been restated to conform to the current year presentation. Additional information about these measures and reconciliations to the nearest GAAP financial measures are provided in the appendix to this presentation.

2013 Fiserv, Inc. or its affiliates.

4Q-12 Financial Metrics

Adjusted Revenue 4Q-12 4Q-11 Change $1,084 $1,084 --

Adjusted Internal Revenue $1,082 $1,084 --

Adjusted EPS $1.39 $1.27 9%

Adjusted Operating Margin 30.7% 30.0% 70 bps

$ in millions, except per share amounts See appendix for information regarding non-GAAP financial measures.

2013 Fiserv, Inc. or its affiliates.

2012 Financial Metrics

Adjusted Revenue
2012 2011 Change $4,196 $4,071 3%

Adjusted Internal Revenue $4,153 $4,071 2%

Adjusted EPS
$5.13 $4.58 12%

$ in millions, except per share amounts See appendix for information regarding non-GAAP financial measures.

2013 Fiserv, Inc. or its affiliates.

2012 Financial Metrics

Free Cash Flow 2012 2011 Change $772 $746 3%

Free Cash Flow Per Share $5.61 $5.18 8%

Adjusted Operating Margin 29.6% 29.2% 40 bps

$ in millions, except per share amounts See appendix for information regarding non-GAAP financial measures.

2013 Fiserv, Inc. or its affiliates.

Adjusted Internal Revenue Growth by Segment

Segment Payments Financial Total

4Q-12 3% (3%) --

2012 2% 2% 2%

See appendix for information regarding non-GAAP financial measures.

2013 Fiserv, Inc. or its affiliates.

4Q-12 Adjusted Operating Margin by Segment

Segment
Payments Financial Total

4Q-12
31.2% 33.1% 30.7%

4Q-11
31.2% 33.1% 30.0%

Change
--70 bps

See appendix for information regarding non-GAAP financial measures.

2013 Fiserv, Inc. or its affiliates.

2012 Adjusted Operating Margin by Segment

Segment
Payments Financial Total

2012
30.3% 32.0% 29.6%

2011
31.0% 30.6% 29.2%

Change
(70 bps) 140 bps 40 bps

See appendix for information regarding non-GAAP financial measures.

2013 Fiserv, Inc. or its affiliates.

Performance Metrics
4Q-12 Electronic Payments Bill Payment 1,2 Transaction Growth -New Sales 113 2012 Transaction Growth 1% New Sales 404

e-Bill 2
Social Payments Debit / EFT 4
3

3%
104% 15%

108
113 40

1%
114% 16%

388
455 165

Bill payment transactions represent online transactions occurring through financial institutions, brokerage firms or portals. Transaction growth excludes the impact of the Wachovia deconversion due to acquisition. The substantial majority of new bill payment sales also include e-bill. Year-over-year social payments transaction growth includes Popmoney and ZashPay transactions in both the current and prior year periods. Includes financial institution issuers signature debit, PIN POS, ATM and ACCEL/Exchange transactions.

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2013 Fiserv, Inc. or its affiliates.

Performance Metrics
2012 Performance Strategic Initiatives Integrated Sales 1 Operational Effectiveness
2

2012 Objective $200 $40 4Q-12 Objective

3

Dollars $189 $62

Percentage 95% 155%

Sales
Sales Quota Attainment
$ in millions
1

2012 Attainment 105%

100%

Integrated sales include sales from a designated list of products sold to account processing and other selected clients. Dollar amounts represent the amount of estimated recurring annual revenue. Dollar amounts are the actual savings in the measurement period and are incremental to amounts in prior periods. Sales quota attainment in the fourth quarter of 2012 was 126%.

2 3

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2013 Fiserv, Inc. or its affiliates.

2013 Key Guidance

Financial Metric Adjusted Revenue Adjusted Internal Revenue Adjusted EPS

Growth Range > 10% 3 4% 15 18%

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2013 Fiserv, Inc. or its affiliates.

2013 Other Guidance

Financial Metric

Growth Range

Free Cash Flow Per Share

Adjusted Operating Margin Expansion
1

> $6.60
10-50 bps

Includes the negative impact of (i) approximately 60 bps from the conversion of a significant account processing client to its parent companys account processing platform and the renewal of the Bank of America agreement; and (ii) the dilutive impact of the O pen Solutions acquisition.

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2013 Fiserv, Inc. or its affiliates.

Appendix

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2013 Fiserv, Inc. or its affiliates.

Adjusted Internal Revenue Growth by Segment

Segment Payments
Financial Total

1Q-12 3%
4% 4%

2Q-12 1%
1% 1%

3Q-12 2%
5% 4%

4Q-12 3%
(3%) --

2012 2%
2% 2%

See page 2 for disclosures related to non-GAAP financial measures. Adjusted internal revenue growth is measured as the increase in adjusted revenue, excluding all acquired revenue for the current period, divided by adjusted revenue from the prior year period. Acquired revenue was $16 million in the first quarter of 2012 ($15 million in the Payments segment and $1 million in the Financial segment); $14 million in the Payments segment, and for the total company, in the second quarter of 2012; $11 million in the Payments segment, and for the total company, in the third quarter of 2012; $2 million in the Financial segment, and for the total company, in the fourth quarter of 2012; and $43 million ($40 million in the Payments segment and $3 million in the Financial segment) for the full year.

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2013 Fiserv, Inc. or its affiliates.

2012 Adjusted EPS

1Q-12 GAAP EPS - continuing operations Adjustments net of tax: Merger and integration costs Severance costs Amortization of acquisition-related intangible assets Debt extinguishment and refinancing costs
1

2Q-12 $ 1.18 0.01 -0.19 -$

3Q-12 1.03 0.02 -0.19 0.02 $

4Q-12 1.18 0.02 -0.19 -$

2012 4.34 0.06 0.06 0.76 0.02

0.95 0.01 0.06 0.18 --

Tax benefit 2
Adjusted EPS $

-1.20 $

(0.10)
1.28 $

-1.27 $

-1.39 $

(0.10)
5.13

See page 2 for disclosures related to non-GAAP financial measures. Earnings per share is calculated using actual, unrounded amounts.
1

Represents a charge of $4 million of interest expense associated with hedge ineffectiveness of interest rate swap agreements settled in conjunction with the companys bond offering. Represents certain discrete income tax benefits related to prior years recognized for GAAP purposes that have been excluded from adjusted earnings per share.

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2013 Fiserv, Inc. or its affiliates.

2011 Adjusted EPS

1Q-11 2Q-11 3Q-11 4Q-11 2011

GAAP EPS - continuing operations

Adjustments net of tax: Merger and integration costs Severance costs Amortization of acquisition-related intangible assets Debt extinguishment and refinancing costs Tax benefit Gain on sale of business by unconsolidated affiliate Adjusted EPS
1

0.77
0.01 0.08 0.16 ----

0.67
0.02 -0.18 0.26 ---

0.89
0.04 -0.17 0.11 (0.02) (0.02)

1.07
0.01 -0.19 ----

3.40
0.07 0.08 0.69 0.37 (0.02) (0.02)

1.02

1.13

1.16

1.27

4.58

See page 2 for disclosures related to non-GAAP financial measures. Earnings per share is calculated using actual, unrounded amounts.
1

Represents the premium paid on the early retirement of debt and other costs associated with the issuance of senior notes and subsequent repurchase of certain notes due in 2012.

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2013 Fiserv, Inc. or its affiliates.

2012 Free Cash Flow

1Q-12 Net cash provided by operating activities Settlement of interest rate hedge contracts Capital expenditures Other adjustments Free cash flow Diluted shares Free cash flow per share $ $ $ 236 -(58) 5 183 140.5 1.30 $ $ $ 2Q-12 149 -(44) 10 115 137.8 0.83 $ $ $ 3Q-12 163 88 (44) (4) 203 136.6 1.49 $ $ $ 4Q-12 287 -(49) 33 271 135.1 2.00 $ $ $ 2012 835 88 (195) 44 772 137.5 5.61

$ in millions, except per share amounts

See page 2 for disclosures related to non-GAAP financial measures. Free cash flow per share is calculated using actual, unrounded amounts.
Free cash flow is calculated as net cash provided by operating activities less capital expenditures and excludes the net change in settlement assets and obligations; tax-effected severance, merger and integration payments; and other items which management believes may not be indicative of the future free cash flow of the company. Free cash flow does not include $70 million received in the fourth quarter of 2012, comprised of the portion of a cash dividend received from an unconsolidated affiliate that is included in net cash from investing activities and an insurance recovery in discontinued operations.

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2013 Fiserv, Inc. or its affiliates.

2011 Free Cash Flow

1Q-11 Net cash provided by operating activities Settlement of interest rate hedge contracts Capital expenditures Other adjustments Free cash flow Diluted shares Free cash flow per share $ $ $ 283 -(56) 17 244 147.7 1.65 $ $ $ 2Q-11 135 6 (46) (4) 91 144.2 0.63 $ $ $ 3Q-11 263 -(42) (37) 184 142.6 1.29 $ $ $ 4Q-11 272 -(48) 3 227 142.3 1.60 $ $ $ 2011 953 6 (192) (21) 746 144.2 5.18

$ in millions, except per share amounts See page 2 for disclosures related to non-GAAP financial measures. Free cash flow per share is calculated using actual, unrounded amounts. Free cash flow is calculated as net cash provided by operating activities less capital expenditures and excludes the net change in settlement assets and obligations; tax-effected severance, merger and integration payments; and other items which management believes may not be indicative of the future free cash flow of the company.

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2013 Fiserv, Inc. or its affiliates.

2012 Adjusted Revenue and Adjusted Operating Income

Total Company
1Q-12 Revenue Output solutions postage reimbursements Adjusted revenue $ $ 1,108 (74) 1,034 $ $ 2Q-12 1,100 (71) 1,029 $ $ 3Q-12 1,118 (69) 1,049 $ $ 4Q-12 1,156 (72) 1,084 $ $ 2012 4,482 (286) 4,196

Operating income Merger and integration costs Severance costs Amortization of acquisition-related intangible assets Adjusted operating income Operating margin Adjusted operating margin

241 3 12 40

259 2 -41

267 4 -41

289 4 -41

1,056 13 12 163

296 21.8% 28.7%

302 23.6% 29.3%

312 23.9% 29.8%

334 25.0% 30.7%

1,244 23.6% 29.6%

$ in millions See page 2 for disclosures related to non-GAAP financial measures. Operating margin percentages are calculated using actual, unrounded amounts.

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2013 Fiserv, Inc. or its affiliates.

2011 Adjusted Revenue and Adjusted Operating Income

Total Company
1Q-11 Revenue Output solutions postage reimbursements Adjusted revenue $ $ 1,048 (66) 982 $ $ 2Q-11 1,065 (62) 1,003 $ $ 3Q-11 1,063 (61) 1,002 $ $ 4Q-11 1,161 (77) 1,084 $ $ 2011 4,337 (266) 4,071

Operating income Merger and integration costs Severance costs Amortization of acquisition-related intangible assets Adjusted operating income Operating margin Adjusted operating margin

221 2 18 38

251 4 -39

243 9 -38

281 2 -42

996 17 18 157

279 21.1% 28.3%

294 23.6% 29.3%

290 22.9% 29.0%

325 24.3% 30.0%

1,188 23.0% 29.2%

$ in millions See page 2 for disclosures related to non-GAAP financial measures. Operating margin percentages are calculated using actual, unrounded amounts.

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2013 Fiserv, Inc. or its affiliates.

2012 Adjusted Revenue and Adjusted Operating Income By Segment

Payments Segment
1Q-12 2Q-12 3Q-12 4Q-12 2012

Revenue
Output solutions postage reimbursements Adjusted revenue Operating income Operating margin Adjusted operating margin

619
(74)

609
(71)

617
(69)

644
(72)

2,489
(286)

$ $

545 161 26.0% 29.5%

$ $

538 160

$ $

548 168 27.3% 30.7%

$ $

572 179 27.7% 31.2%

$ $

2,203 668 26.8% 30.3%

26.3%
29.8%

Financial Segment
1Q-12 Revenue Operating income Operating margin $ $ 501 151 30.2% $ $ 2Q-12 502 163 32.5% $ $ 3Q-12 513 165 32.1% $ $ 4Q-12 524 173 33.1% $ $ 2012 2,040 652 32.0%

$ in millions See page 2 for disclosures related to non-GAAP financial measures. Operating margin percentages are calculated using actual, unrounded amounts.

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2013 Fiserv, Inc. or its affiliates.

2011 Adjusted Revenue and Adjusted Operating Income By Segment

Payments Segment
1Q-11 2Q-11 3Q-11 4Q-11 2011

Revenue
Output solutions postage reimbursements Adjusted revenue Operating income Operating margin Adjusted operating margin

580
(66)

579
(62)

587
(61)

635
(77)

2,381
(266)

$ $

514 156 26.8% 30.3%

$ $

517 164

$ $

526 162 27.6% 30.8%

$ $

558 174 27.4% 31.2%

$ $

2,115 656 27.5% 31.0%

28.4%
31.7%

Financial Segment
1Q-11 Revenue Operating income Operating margin $ $ 480 139 28.9% $ $ 2Q-11 497 153 30.8% $ $ 3Q-11 487 143 29.4% $ $ 4Q-11 540 178 33.1% $ $ 2011 2,004 613 30.6%

$ in millions See page 2 for disclosures related to non-GAAP financial measures. Operating margin percentages are calculated using actual, unrounded amounts.

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2013 Fiserv, Inc. or its affiliates.