Financial Analysis

11. COMMITMENTS AND CONTINGENCIES In the normal course of business, the Company is subject to various proceedings, lawsuits, claims and other matters, including, for example, those that relate to the environment and health and safety, labor and employment, employee benefits, import/export compliance, patents or other intellectual property, data privacy and security, product liability, commercial disputes and regulatory compliance, among others. Additionally, the Company is subject to diverse and complex laws and regulations, including those relating to corporate governance, public disclosure and reporting, environmental safety and the discharge of materials into the environment, product safety, import and export compliance, data privacy and security, antitrust and competition, government contracting, anti-corruption, and labor and human resources, which are rapidly changing and subject to many possible changes in the future. Compliance with these laws and regulations, as well as changes in accounting standards, taxation requirements, and federal securities laws among others, may create a substantial burden on, and substantially increase costs to the Company or could have an impact on the Companys future operating results. The Company has reflected all liabilities when a loss is considered probable and reasonably estimable in the Consolidated Financial Statements. We do not believe there is a reasonable possibility that losses exceeding amounts already recognized have been inc …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

10. EMPLOYEE BENEFIT PLANS Pension and Postemployment Plans The Company sponsors defined benefit pension plans. Following the Spin-Off, NCR Atleos assumed the U.S. and certain international pension plan assets and liabilities, along with the associated deferred costs in accumulated other comprehensive loss, which were previously sponsored by the Company. Pursuant to the terms of the Spin-Off transaction documents, the Company is required to contribute 50% of the annual costs of the NCR Atleos U.S. pension plan to the extent NCR Atleos contributes more than $40 million on an annual basis beginning with the plan year ending December 31, 2024. The contribution threshold was met by NCR Atleos during the year ended December 31, 2024, resulting in a required contribution from NCR Voyix of less than $1 million. The contribution threshold is expected to be met by NCR Atleos for the year ended December 31, 2025, and the expected contribution from NCR Voyix is approximately $1 million. Internationally, the defined benefit plans are based primarily upon compensation and years of service. Certain international plans also no longer offer additional benefits and are closed to new participants. The Companys funding policy is to contribute annually no less than the minimum required by applicable laws and regulations. Assets of the Companys defined benefit plans are primarily invested in common and commingled trusts. The Company recognizes the funded status of each applicable plan on the Cons …

CompensationAndEmployeeBenefitPlansTextBlock · excerpt; the full note is in the filing

6. DEBT OBLIGATIONS The following table summarizes the Companys short-term borrowings and long-term debt: December 31, 2025 December 31, 2024 In millions, except percentages Amount Weighted-Average Interest Rate Amount Weighted-Average Interest Rate Short-Term Borrowings Current portion of Senior Secured Credit Facility (1) $ % $ % Total short-term borrowings $ $ Long-Term Debt Senior Secured Credit Facility: Term loan facilities (1) $ % $ % Revolving credit facility (1) % % Senior Notes: 5.000% Senior Notes due 2028 650 650 5.125% Senior Notes due 2029 403 403 5.250% Senior Notes due 2030 52 52 Deferred financing fees (5) (7) Total long-term debt $ 1,100 $ 1,098 (1) Interest rates are weighted average interest rates as of December 31, 2025 and 2024. Senior Secured Credit Facilities On October 16, 2023, the Company entered into a senior secured credit agreement, with certain subsidiaries of the Company party thereto as foreign borrowers, the lenders party thereto and Bank of America, N.A., as administrative agent (in such capacity, the Administrative Agent). This credit agreement provides for senior secured credit facilities in an aggregate principal amount of $700 million, comprised of (i) a five-year multicurrency revolving credit facility in the aggregate principal amount of $500 million (including (a) a letter of credit sub-facility in an aggregate principal amount of up to $75 million and (b) a sub-facility in an aggregate principal amount of up to $200 million for borro …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

9. STOCK COMPENSATION PLANS As disclosed in Note 1, Basis of Presentation and Significant Accounting Policies, outstanding restricted stock units and stock options were adjusted to maintain the economic value of those awards before and after the Spin-Off. Generally, continuing NCR Voyix employees retained the number of outstanding restricted stock units held by them as of the Spin-Off and received additional NCR Voyix restricted stock units to reflect the Spin-Off, while continuing NCR Atleos employees had their outstanding restricted stock units held by them as of the Spin-Off converted solely into equivalent restricted stock units of NCR Atleos, and any outstanding restricted stock units held by them as of the Spin-Off were cancelled. Outstanding stock options at the time of the Spin-Off, regardless of the holder, were converted into stock options of both NCR Voyix and NCR Atleos. In addition, outstanding restricted stock units held by certain key equity holders as of the Spin-Off (including directors and certain former employees) were converted into restricted stock units of both NCR Voyix and NCR Atleos. The share information included below has been adjusted for the Spin-Off. The modification of the Companys awards did not result in material stock-based compensation cost during the year ended December 31, 2023. The Company recognizes all share-based payments as compensation expense in its financial statements based on their fair value. As of December 31, 2025, the Company …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

4. GOODWILL AND PURCHASED INTANGIBLE ASSETS Goodwill by Segment The carrying amounts of goodwill by segment as of December 31, 2025 and 2024 are included in the tables below. Foreign currency fluctuations are included within other adjustments. Additionally, during 2025, the Company divested of a non-strategic business and derecognized $2 million of goodwill, reflected within other adjustments in the Restaurants segment. December 31, 2024 December 31, 2025 In millions Goodwill Accumulated Impairment Total Additions Impairment Other Goodwill Accumulated Impairment Total Retail $ 1,079 $ (34) $ 1,045 $ $ $ 5 $ 1,084 $ (34) $ 1,050 Restaurants 494 (23) 471 (1) 493 (23) 470 Total goodwill $ 1,573 $ (57) $ 1,516 $ $ $ 4 $ 1,577 $ (57) $ 1,520 Identifiable Intangible Assets NCR Voyixs purchased intangible assets, reported in Intangibles, net in the Consolidated Balance Sheets, were specifically identified when acquired, and are deemed to have finite lives. The gross carrying amount and accumulated amortization for the Companys identifiable intangible assets were as set forth in the table below. Amortization Period (in Years) December 31, 2025 December 31, 2024 In millions Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Identifiable intangible assets Reseller & customer relationships 1 - 20 $ 322 $ (280) $ 321 $ (268) Intellectual property 2 - 8 360 (320) 346 (307) Tradenames 1 - 10 63 (62) 64 (62) Total identifiable intangible assets …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

8. INCOME TAXES For the years ended December 31, income (loss) from continuing operations before income taxes consisted of the following: In millions 2025 2024 2023 Income (loss) before income taxes United States $ (54) $ (249) $ (451) Foreign 23 52 (98) Total income (loss) from continuing operations before income taxes $ (31) $ (197) $ (549) For the years ended December 31, income tax expense (benefit) consisted of the following: In millions 2025 2024 2023 Income tax expense (benefit) Current Federal $ (89) $ (9) $ 26 State (3) 2 Foreign 18 26 31 Deferred Federal 1 (19) (48) State (4) 1 (3) Foreign 4 3 178 Total income tax expense (benefit) $ (73) $ 4 $ 184 Disclosed below is a summary of income taxes paid by jurisdiction for the year ended December 31, 2025, pursuant to the disclosure requirements of ASU 2023-09: In millions 2025 Income taxes paid by jurisdiction Federal $ 258 State 31 Foreign 27 Total income taxes paid $ 316 In 2025, there were no jurisdictions other than U.S. federal with income taxes paid that equaled or exceeded 5% of total income taxes paid. The following table represents the principal components of the difference between the effective tax rate and the U.S. federal statutory income tax rate for the year ended December 31, 2025, pursuant to the disclosure requirements of ASU 2023-09: In millions 2025 Amount Percent Income tax expense/(benefit) at the U.S. federal tax rate of 21% $ (6) 21.0 % State and local income taxes, net of federal income tax effect …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

12. LEASING The following table presents our lease balances as of December 31: In millions Location in the Consolidated Balance Sheet December 31, 2025 December 31, 2024 Assets Operating lease assets Operating lease assets $ 208 $ 229 Finance lease assets Property, plant and equipment, net 100 81 Accumulated Amortization of Finance lease assets Property, plant and equipment, net (81) (70) Total leased assets $ 227 $ 240 Liabilities Current Operating lease liabilities Other current liabilities $ 38 $ 40 Finance lease liabilities Other current liabilities 14 11 Noncurrent Operating lease liabilities Operating lease liabilities 226 248 Finance lease liabilities Other liabilities 5 3 Total lease liabilities $ 283 $ 302 The following table presents our lease costs for operating and finance leases: In millions For the year ended December 31, 2025 For the year ended December 31, 2024 For the year ended December 31, 2023 Operating lease cost $ 51 $ 63 $ 72 Finance lease cost Amortization of leased assets 11 13 13 Interest on lease liabilities 1 1 1 Variable lease cost 19 26 27 Sublease income (17) (5) (3) Total lease cost $ 65 $ 98 $ 110 The following table presents the supplemental cash flow information: In millions For the year ended December 31, 2025 For the year ended December 31, 2024 For the year ended December 31, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 56 $ 66 $ 76 Operating cash flows from fina …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Recent Accounting Pronouncements Adoption of New Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . This guidance requires disclosure of specific categories in the rate reconciliation and provides additional information for reconciling items that meet a specified quantitative threshold. The guidance is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company has adopted ASU 2023-09 on a prospective basis and conformed to the applicable disclosure for the Annual Report on Form 10-K for the year ending December 31, 2025. Refer to Note 8, Income Taxes for additional details. Although there are other new accounting pronouncements issued by the FASB and adopted by or effective for the Company, the Company does not believe any of these accounting pronouncements had a material impact on its consolidated financial statements. Accounting Pronouncements Issued But Not Yet Adopted In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow Scope Improvements. The update improves the guidance in Topic 270, Interim Reporting , by improving the navigability of the required interim disclosures and clarifying when that guidance is applicable. The amendments in ASU 2025-11 are effective for interim reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The amendments can be …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

5. SEGMENT INFORMATION AND CONCENTRATIONS Subsequent to the Digital Banking Sale and the Spin-Off, as described in Note 1, Basis of Presentation and Significant Accounting Policies, the Company manages and reports the following segments: Retail - Our Retail segment primarily serves enterprise and mid-market retailers in the convenience, fuel & retail; grocery, drug & mass merchandise; and department & specialty retail industries. Our retail solutions provide end-to-end connectivity to a customers operations, including, but not limited to the following operational activities, point-of-sale (POS), payments, inventory management, fraud and loss prevention, loyalty and consumer engagement. Additionally, these solutions include open application program interface (API) connectivity to retail software platforms and applications, hardware terminals, self-service kiosks, including self-checkout (SCO), payment processing and merchant acquiring solutions and barcode scanners. Restaurants - Our Restaurants segment is focused on serving restaurants and food service establishments including quick-service, table-service and fast casual restaurants of all sizes. Our restaurant solutions include, among others, POS hardware and software solutions, payment processing and merchant acquiring services, installation, maintenance, and managed and professional services. These solutions are designed to help streamline order and transaction processing, increase consumer engagement, increase …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

10. COMMITMENTS AND CONTINGENCIES In the normal course of business, the Company is subject to various proceedings, lawsuits, claims and other matters, including, for example, those that relate to the environment and health and safety, labor and employment, employee benefits, import/export compliance, patents or other intellectual property, data privacy and security, product liability, commercial disputes and regulatory compliance, among others. Additionally, the Company is subject to diverse and complex laws and regulations, including those relating to corporate governance, public disclosure and reporting, environmental safety and the discharge of materials into the environment, product safety, import and export compliance, data privacy and security, antitrust and competition, government contracting, anti-corruption, and labor and human resources, which are rapidly changing and subject to many possible changes in the future. Compliance with these laws and regulations, as well as changes in accounting standards, taxation requirements, and federal securities laws among others, may create a substantial burden on, and substantially increase costs to the Company or could have an impact on the Companys future operating results. The Company has reflected all liabilities when a loss is considered probable and reasonably estimable in the Condensed Consolidated Financial Statements. We do not believe there is a reasonable possibility that losses exceeding amounts already recognized hav …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

5. DEBT OBLIGATIONS The following table summarizes the Companys short-term borrowings and long-term debt: September 30, 2025 December 31, 2024 In millions, except percentages Amount Weighted-Average Interest Rate Amount Weighted-Average Interest Rate Short-Term Borrowings Current portion of Senior Secured Credit Facility (1) $ % $ % Total short-term borrowings $ $ Long-Term Debt Senior Secured Credit Facility: Term loan facility (1) $ % $ % Revolving credit facility (1) % % Senior notes: 5.000% Senior Notes due 2028 650 650 5.125% Senior Notes due 2029 403 403 5.250% Senior Notes due 2030 52 52 Deferred financing fees (6) (7) Total long-term debt $ 1,099 $ 1,098 (1) Interest rates are weighted-average interest rates as of September 30, 2025 and December 31, 2024. Senior Secured Credit Facility On October 16, 2023, the Company entered into a senior secured credit agreement, with certain subsidiaries of the Company party thereto as foreign borrowers, the lenders party thereto and Bank of America, N.A., as administrative agent (in such capacity, the Administrative Agent). This credit agreement provides for senior secured credit facilities in an aggregate principal amount of $700 million, comprised of (i) a five-year multicurrency revolving credit facility in the aggregate principal amount of $500 million (including (a) a letter of credit sub-facility in an aggregate principal amount of up to $75 million and (b) a sub-facility in an aggregate principal amount of up to $200 millio …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

8. STOCK COMPENSATION PLANS As of September 30, 2025, the Companys stock-based compensation consisted of restricted stock units and employee stock purchase plan. Stock-based compensation expense for the following periods were: In millions Three months ended September 30 Nine months ended September 30 2025 2024 2025 2024 Restricted stock units $ 7 $ 8 $ 23 $ 29 Employee stock purchase plan 1 1 3 3 Stock-based compensation expense 8 9 26 32 Tax expense (benefit) (2) (1) Stock-based compensation expense (net of tax) $ 6 $ 9 $ 25 $ 32 Stock-based compensation expense is recognized in the Condensed Consolidated Financial Statements based upon fair value. On March 3, 2025, the Company granted market-based restricted stock units vesting on March 3, 2028. The fair value of the awards was determined based on the grant date fair value and will be recognized over the requisite service period. The table below details the significant assumptions used in determining the fair value of the market-based restricted stock units granted on March 3, 2025: Dividend yield % Risk-free interest rate 3.86 % Expected volatility 48.34 % Expected volatility for these restricted stock units is calculated as the historical volatility of the Companys stock over a period of approximately three years, as management believes this is the best representation of prospective trends. The risk-free interest rate was determined based on a three year U.S. Treasury yield curve in effect at the time of the grant. As of …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

14. FAIR VALUE OF ASSETS AND LIABILITIES Assets and Liabilities Measured at Fair Value on a Recurring Basis Assets and liabilities recorded at fair value on a recurring basis as of September 30, 2025 are set forth in the table as follows. Assets and liabilities recorded at fair value on a recurring basis as of December 31, 2024 were zero. September 30, 2025 In millions Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Foreign exchange contracts (1) $ 1 $ $ 1 $ Total $ 1 $ $ 1 $ (1) Included in Other current liabilities in the Condensed Consolidated Balance Sheets. Foreign Exchange Contracts As a result of our global operating activities, we are exposed to risks from changes in foreign currency exchange rates, which may adversely affect our financial condition. To manage our exposures and mitigate the impact of currency fluctuations on our financial results, we hedge our primary transactional exposures through the use of foreign exchange forward and option contracts. The foreign exchange contracts are valued using the market approach based on observable market transactions of forward rates and are classified within Level 2 of the valuation hierarchy. We incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterpartys nonperformance risk in the fair value measurements. In adjusting the fair val …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

3. GOODWILL AND PURCHASED INTANGIBLE ASSETS Goodwill by Segment The carrying amounts of goodwill by segment as of September 30, 2025 and December 31, 2024 are included in the table below. Foreign currency fluctuations are included within other adjustments. Additionally, during the three months ended September 30, 2025, the Company divested of a non-strategic business and derecognized $2 million of goodwill, reflected within other adjustments in the Restaurants segment. December 31, 2024 September 30, 2025 In millions Goodwill Accumulated Impairment Total Additions Impairment Other Goodwill Accumulated Impairment Total Retail $ 1,079 $ (34) $ 1,045 $ $ $ 5 $ 1,084 $ (34) $ 1,050 Restaurants 494 (23) 471 (1) 493 (23) 470 Total goodwill $ 1,573 $ (57) $ 1,516 $ $ $ 4 $ 1,577 $ (57) $ 1,520 Identifiable Intangible Assets The Companys purchased intangible assets, reported in Intangibles, net in the Condensed Consolidated Balance Sheets, were specifically identified when acquired, and are deemed to have finite lives. The gross carrying amount and accumulated amortization for the Companys identifiable intangible assets were as set forth in the table below. Amortization Period (in Years) September 30, 2025 December 31, 2024 In millions Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Identifiable intangible assets Reseller & customer relationships 1 - 20 $ 322 $ (277) $ 321 $ (268) Intellectual property 2 - 8 359 (316) 346 (307) Traden …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

7. INCOME TAXES Income tax provisions for interim (quarterly) periods are based on an estimated annual effective income tax rate calculated separately from the effect of significant, infrequent, or unusual items. Income tax benefit from continuing operations was $6 million for the three months ended September 30, 2025, compared to income tax benefit of $1 million for the three months ended September 30, 2024. The change was primarily driven by a higher valuation allowance in the prior year. This benefit was partially offset by the impact of an unfavorable change in discrete tax expenses and benefits and a lower loss from continuing operations before taxes in the three months ended September 30, 2025, compared to the prior year. Income tax benefit was $17 million for the nine months ended September 30, 2025, compared to income tax expense of $4 million for the nine months ended September 30, 2024. The change was primarily driven by a higher valuation allowance, along with a favorable change in discrete tax expenses and benefits in the prior year. These benefits were partially offset by the impact of a lower loss from continuing operations before taxes in the nine months ended September 30, 2025, compared to the prior year. The Companys current tax liability was $14 million and $336 million as of September 30, 2025, and December 31, 2024, respectively, presented within Other current liabilities on the Condensed Consolidated Balance Sheets. The decrease in the current tax liabil …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Recent Accounting Pronouncements Accounting Pronouncements Issued But Not Yet Adopted In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Topic 350): Targeted Improvements to the Accounting for Internal-Use Software. This update revises the recognition guidance for internal-use software by eliminating the previous model based on software development stages and introducing a principles-based approach. Under the new guidance, capitalization begins when the Company has authorized and committed to funding the project, and it is probable that the software will be completed and used for its intended purpose. The ASU is effective for interim periods and fiscal years beginning after December 15, 2027. The amendment may be applied on a prospective, retrospective or modified retrospective basis. The Company is currently evaluating the provisions of the amendments and the impact on its future consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, Income Statement Reporting Comprehensive Income Expense Disaggregation Disclosures (Topic 220): Disaggregation of Income Statement Expenses and ASU 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Topic 220): Clarifying the Effective Date . This guidance requires additional disclosure of certain amounts included in the expense captions presented on the Statement of Operations as well as disclosures about selling expen …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

9. EMPLOYEE BENEFIT PLANS Employer Contributions Pension For the three and nine months ended September 30, 2025, the Company contributed $3 million and $9 million, respectively, to its international pension plans. The Company anticipates contributing an additional $3 million to its international pension plans for a total of $12 million in 2025. Following the Spin-Off, NCR Atleos assumed the U.S. and certain international pension plan assets and liabilities, along with the associated deferred costs in accumulated other comprehensive loss, which were previously sponsored by the Company. Pursuant to the terms of the Spin-Off transaction documents, the Company is required to contribute 50% of the annual costs of the U.S. pension plan to NCR Atleos to the extent NCR Atleos contributes more than $40 million on an annual basis beginning with the plan year ending December 31, 2024. Postemployment For the three and nine months ended September 30, 2025, the Company contributed $7 million and $20 million, respectively, to its postemployment plan. The Company anticipates contributing an additional $21 million to its postemployment plan for a total of $41 million in 2025. During the three and nine months ended September 30, 2025, the Company recorded $23 million and $34 million, respectively, of employee related costs in accordance with ASC 712, Employers Accounting for Postemployment Benefits, when a severance liability was determined to be probable and estimable. …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

4. SEGMENT INFORMATION AND CONCENTRATIONS Subsequent to the Digital Banking Sale and the Spin-Off, as described in Note 1, Basis of Presentation and Summary of Significant Accounting Policies, the Company manages and reports the following two segments: Retail - We offer software-led solutions to customers in the retail industry, leading with digital to connect retail operations end to end to integrate all aspects of a customers operations in indoor and outdoor settings from point-of-sale (POS), to payments, inventory management, fraud and loss prevention applications, loyalty and consumer engagement. These solutions include retail-oriented technologies such as comprehensive API-point of sale retail software platforms and applications, hardware terminals, self-service kiosks including self-checkout (SCO), payment processing and merchant acquiring solutions, and bar-code scanners. Restaurants - We offer technology solutions to customers in the restaurant industry, including table-service, quick-service and fast casual restaurants of all sizes, that are designed to improve operational efficiency, increase customer satisfaction, streamline order and transaction processing and reduce operating costs. Our solutions include POS hardware and software solutions, payment processing and merchant acquiring services, installation, maintenance, as well as managed and professional services. Corporate and Other includes income and expenses related to corporate functions that are not specific …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing