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a - amdocs | make it amazing Amdocs Limited NASDAQ : DOX Fiscal Q3 2026 Earnings Presentation August 5 , 2026 Shimie Hortig President & CEO Tal Rozenfeld Chief Financial Officer Value Creation Quarterlies Earnings Report amdocs
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2 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 2 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Forward-Looking Statement The information contained herein in this presentation or delivered or to be delivered to you during this presentation does no t constitute an offer, expressed or implied, or a recommendation to do any transaction in Amdocs Limited securities or in any securities of its affiliates or subsidiaries. This presentation and the comments made by members of Amdocs management in conjunction with it can be found on the Investor R elations section of our website, and, as always, a copy of today’s prepared remarks will also be posted immediately following the conclusion of this call. This presentation i ncludes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including stat ements about Amdocs’ strategy, including with respect to artificial intelligence and agentic opportunities, growth, financial outlook and business results in future quarters and year s. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtaine d or that any deviations will not be material. Such statements involve risks, uncertainties and other important factors that may cause future results to differ materially f rom those anticipated. These risks include, but are not limited to, the effects of general macroeconomic conditions, prevailing level of macroeconomic, business and operational uncertainty, including as a result of geopolitical events or other regional events or pandemics, changes to trade policies including tariffs and trade restrictions, as well as the current infl ationary environment, and the effects of these conditions on the Company’s customers’ businesses and levels of business activity, including the effect of the current economic uncertainty and industry pressure on the spending decisions of the Company’s customers, Amdocs’ ability to grow in the business markets that it serves, Amdocs’ ability to successfully integrat e acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company’s products and services obsolete, security incidents, inc luding breaches and cyberattacks to our systems and networks and those of our partners or customers, potential loss of a major customer, our ability to develop long -term relationships with our customers, our ability to successfully and effectively implement artificial intelligence and Generative AI in the Company’s offerings and operations, and risks associat ed with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, Amdocs specifically disclaims any obligation to do so. These and other risks are discussed at greater length in Amdocs’ filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2025 filed on December 15, 2025, and for the first quarter of fiscal 2026 on February 17, 2026, and for the second quarter of fisc al 2026 on May 26. 2026. This presentation includes non-GAAP financial measures, including non-GAAP operating margin, free cash flow, revenue on a constant currency basis, non-GAAP net income, non- GAAP net income attributable to Amdocs Limited, and non-GAAP earnings per share. Free cash flow equals cash generated by operating activities less net capital expenditures. While in prior years Amdocs used normalized free cash flow, Amdocs is no longer reporting normalized free cash flow. Normaliz ed free cash flow is not comparable to free cash flow. These non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles an d may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP financial measures are not based on any comprehensive set of accou nting rules or principles. Amdocs believes that non-GAAP financial measures have limitations in that they do not reflect all of the amounts associated with Amdocs’ results of o perations as determined in accordance with GAAP and that these measures should only be used to evaluate Amdocs’ results of operations in conjunction with the corresponding G AAP measures. Please refer to the appendix for a reconciliation of these metrics to the most comparable GAAP provision. Amdocs believes that these measures provide useful inf ormation to investors and management regarding financial and business trends relating to its financial condition and results of operations, as well as the net amount of cas h generated by its business operations after taking into account capital spending required to maintain or expand the business. This presentation also includes pro forma metrics which exclude the financial impact of OpenMarket (divested on December 31, 2020) from fiscal year 2021. Please also review the information contained in Amdocs’ press release dated August 5, 2026, with respect to earnings for fiscal Q3 2026. The press release contains additional information regarding Amdocs’ outlook for fiscal year 2026 and certain non-GAAP metrics and their reconciliations.
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3 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Today’s speakers Tal Rozenfeld Chief Financial Officer Shimie Hortig President & Chief Executive Officer
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4 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 4 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Agenda Strategy & Business Performance Update Shimie Hortig President & Chief Executive Officer Financial Review & Outlook Tal Rozenfeld Chief Financial Officer Q&A
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5 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs President & Chief Executive Officer Shimie Hortig Strategy and Business Performance Update
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6 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 1 6 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Business Performance Update
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7 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 7 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Managed services delivered a record quarter, accounting for 67% of total revenue Revenue Non-GAAP operating margin 12-Month Backlog Non-GAAP EPS $1.84 $4.26B21.6%$1.175B At guidance midpoint At guidance midpoint Up 20bps YoY Up 2.7% YoY Q3 Financial Highlights 1. Non-GAAP. See reconciliation tables in appendix (1) (1)
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8 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 8 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Revenue(1) Free cash flow(3) Non-GAAP EPS(2) Non-GAAP EBIT(2) 21.3% - 21.9% $710m - $730m 5.5% - 6.5% YoY growth • Reiterate 21.6% midpoint • Up 20bps YoY • Reiterate $720m midpoint • ~90% earning-to-cash conversion • Reiterate 6.0% midpoint • Reiterate 3.0% midpoint in constant currency(1) 2.6% - 3.4% YoY growth 1. Constant currency. Assumes exchange rates in the current period were unchanged from the prior period 2. Non-GAAP. See reconciliation tables in appendix 3. Excludes restructuring related payments FY2026 Outlook % margin
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9 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 9 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Key Customer Wins Core Platform Modernization ConnectX SaaS Platform OSS Modernization aOS driven customer engagement Scandinavia Customer Engagement Transformation New, large scale multi-year partnership with Liberty Latin America Manage and transform its entire end-to-end IT ecosystem Major proof-point of the Agentic transformation strategy Billing Migration US digital TV entertainment provider Service orchestration modernization
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10 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 10 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Key milestones Q3 Project Execution & Delivery Billing Modernization Go-Live Charging migration US Cellular integration Enterprise catalog deployment Charging data migration 5G policy modernization Digital Commerce Rollout Execution of charging transition services Bill Presentment go live Austria
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11 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 2 11 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs The Amdocs Strategy
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12 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 12 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Amdocs Strategy 2 1 3 Agentic Telco Operating System (aOS) New Vertical Expansion Emerging Growth Horizons 4 Transforming our customers to the Agentic era Accelerate Agentic modernization in additional industry Capture & solve emerging needs driven by the GenAI revolution Internal Transformation Become an Agentic-firstorganization as a key enabler to support our future growth
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13 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 13 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Amdocs Agentic Telco Operating System Our mission is to accelerate the transformation of each of our customers to the Agentic era ✓ Simplify complexity ✓ Re-imagine end-to-end workflows ✓ Accelerate the launch of new offerings from months to hours ✓ Significantly reduce their cost structures 1 This transformation will allow our customers to: 1 Agentic Orchestration Agentic Governance Agentic Delivery Agentic IT Ops. Agentic Core BSS/OSS Agentic Business WorkflowsAgentic Telco Operating System (aOS) Transforming our customers to the Agentic era
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14 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 14 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Strategic Win: Liberty Latin America Strategic Engagement to Transform and Manage its Entire IT Domain Through Amdocs aOS Business value Accelerate time to market Service & product innovation Improve customer & employee experience deliver significant cost savings 10-year strategic engagement to transform and manage its end-to-end IT ecosystem Meaningful expansion of Amdocs’ footprint in the CALA region AI driven operations 1 Demonstrates ability to handle highly complex operations across multiple markets
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15 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 15 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs aOS Market Traction Customer Engagements In Production Q3 New Deals Customer care Tier 1 Asia Pacific Operator Customer care Customer care Switzerland Sales Billing care Scandinavia Sales digital twin Operations Marketing Sales Billing 1 Agentic network engineering
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16 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 16 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs New Vertical Expansion 2 Expand our addressable market by targeting additional vertical ✓ Track record of successfully executing major core system transformations ✓ Unique Agentic offering ✓ Especially relevant in other high volume, mission critical and strictly regulated industries Enter an additional market with our disruptive Agentic approach 2 New Vertical Expansion Accelerate Agentic modernization in additional industry
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17 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 17 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Emerging Growth Horizons 3 The GenAI revolution is creating demand to solve technological gaps and needs that didn’t exist before 3 ✓ Be the first to market with disruptive technologies ✓ Leverage Agentic skill-set and deep industry knowledge ✓ Incubate and scale the ones with the greatest potential Future new growth drivers for Amdocs Emerging Growth Horizons Capture & solve emerging needs driven by GenAI
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18 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 18 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Internal Transformation 4 Agentic-first company with the right foundation to support our future growth 4 ✓ Become “Customer Zero” ✓ Implementing Agentic capabilities across: ✓ Software development ✓ Service delivery ✓ Operations Reshaping the organization: Internal Transformation Become an Agentic organization as a key enabler to support our future growth
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19 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 19 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Bringing it all together 1 2 We have the right strategy to seize this exciting opportunity for Amdocs and our telco customers Our recent commercial momentum is an important proof point We see opportunities to expand beyond telco to an additional vertical and new emerging horizons 3 We’ve got the right talent, skills and leadership necessary to quickly adapt and drive us forward 4
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20 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Chief Financial Officer Tal Rozenfeld Financial Review & Outlook
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21 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 21 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Q3 FY2026 Financial Results 1. Constant currency. Assumes exchange rates in the current period were unchanged from the prior period 2. Non-GAAP. See reconciliation tables in appendix Revenue $1,175m +2.7% YoY as reported +2.2% YoY constant currency(1) Non-GAAP(2) Operating Margin $1.84, in line with guidance midpoint of $1.81 – $1.87 GAAP Diluted EPS $0.59, incl. $0.91 restructuring charges. Ex- restructuring, GAAP diluted EPS was above guidance ($1.39 - $1.47) Non-GAAP(2) Diluted EPS 21.6% +20 bps YoY, +10 bps QoQ Key Metrics: $1,175 $1,175 Original Q3F26 Guidance (midpoint) Q3F26A Q3 2026 Revenue vs. Guidance $ Millions Revenue in line with the guidance midpoint, including a negligible impact from foreign currency movements compared to guidance Free cash flow(2) of $193M before restructuring payments in Q3
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22 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 22 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Managed Services Q3F25 Q3F26 ~67% of Q3 FY2026 revenue Record Managed Services revenue ~$791m New Strategic biller migration program, leveraging Amdocs’ AI-driven migration capabilities Supporting visibility and business resilience managed services contract renewals~100% Close to Managed services arrangements support business model resiliency with highly recurring revenue streams, multi-year engagements and high renewal rates, and may also include large- scale digital transformation projects US digital TV entertainment provider Extended managed services agreement for Amdocs CES operations South American service provider Multi-year agreement, leveraging Amdocs' full BSS/OSS stack with AI-driven support
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23 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 23 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Balance Sheet & Cash Flow Cash, Credit Facility & Debt Position $ Millions, as of June 30, 2026 Cash + Available Credit Facility $726 million Committed to maintaining our Investment grade credit rating Baa1 Moody’s BBB S&P $206 $520 $650 $280 Liquidity Debt Available credit facility as of 6/30 Cash (3) Ample liquidity to support ongoing business needs while retaining the capacity to fund future strategic growth DSO’s 78 days +2 days YoY and +5 days QoQ DSO’s may fluctuate from quarter to quarter Unbilled receivables net of deferred revenue increased by $98 million compared to a year ago and by $68 million sequentially in Q3, aggregating the short-term and long-term balances The net difference between unbilled receivables and deferred revenue fluctuates from quarter to quarter, in line with normal business activities as well as progress on multi-year transformation programs Q3 2026 Free cash flow(1) bridge $197 $193 $25 $172 Operating Cash Flow Net capex Reported FCF FCF before restructuring payments of $21M was $193M in Q3 (2) 1. Non-GAAP. See reconciliation tables in appendix 2. Short-term financing arrangements as of June 30, 2026: $80M drawn on $800M revolving credit facility and $200M outstanding notes through U.S. Commercial Paper leaving available capacity of $520M 3. $650M senior note, maturing June 2030 * * (2)
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24 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 24 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 88% 140% 102% 101% 93% 94% 90% $527 $869 $665 $718 $694 $735 $720 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026E 100% 99% 104% 96% 112% 106% Disciplined Capital Allocation % FCF(1)(2)(3)(4)(5)/ Non-GAAP Net Income(1) FCF ($M) (1)(2)(3)(4)(5) % of FCF(1)(2)(3)(4)(5) Returned to Shareholders FCF: Six-year historical trend and FY2026E outlook (Guidance) FY2026E guidance: return majority Share repurchases $143 Dividends $60 ~$0.6B aggregate remaining share repurchase authorization Dividend Board authorized quarterly dividend payment: 56.9 cents Payable October 30, 2026 $203M Returned to shareholders in Q3 Share Repurchase AuthorizationNormalized (1)(2) FY 2026 free cash flow(1) target reiterated: $710-$730M (before restructuring payments) ~90% Earnings to cash conversion 1. Non-GAAP. See appendix tables for reconciliation of FCF 2. FCF in FY2020, FY2021 and FY2022 is presented on a normalized basis, which mainly excludes net capital expenditures related to the new campus development; normalized FCF disclosure is not applicable as of FY2023 onward 3. Refer to https://investors.amdocs.com/ and earnings reports issued on 11/2/2021 and 11/8/2022 for reconciliation of normalized FCF in FY2020, FY2021 and FY2022 4. FY2023, FY2024, and FY2025, exclude restructuring payments of ~$20M,~$75M.~$90M, respectively 5. FY2026 assumes midpoint of $710-$730M guidance range, before restructuring payments
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25 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 25 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Leading Indicators & Visibility: 12-month Backlog $4.26B 12-Month Backlog 3.0% 3.2% 2.7% 2.6% 2.7% Q3F25 Q4F25 Q1F26 Q2F26 Q3F26 Quarterly 12-Month Backlog Growth YoY % 12-month backlog includes: Anticipated revenue related to contracts Estimated revenue from managed services contracts Letters of intent Maintenance Estimated ongoing support activities Up 2.7% YoY 1. For comparison purposes, pro forma adjusts quarterly revenue from Q124 to Q4F24 by approximately $150 million, and fiscal 2024 revenue by approximately $600 million, to reflect the end of certain low margin, non- core business activities; these activities substantially already ceased in the first quarter fiscal 2025 and were not included in the full year fiscal 2025 revenue outlook (1) (1) Down $20M QoQ
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26 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 26 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 2.4% 7.0% 10.3% 7.7% 2.7% 3.1% 2.6% FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026E 3.4% 3.0% 1. For comparison purposes, pro forma fiscal 2024 revenue by approximately $600 million to reflect the end of certain low margin, non-core business activities; these activities substantially already ceased in the first quarter fiscal 2025 and are not included in the full year fiscal 2025 revenue outlook 2. Pro forma metrics exclude the financial impact of OpenMarket (which was divested on December 31, 2020) from fiscal year 2021. 3. Constant currency. Assumes exchange rates in the current period were unchanged from the prior period FY2026 revenue growth: Outlook tightened to 2.6%-3.4% YoY constant currency(3) Revenue Growth YoY% Growth Constant Currency(3) (2)(3) (3)(2)(3) (1)(3) Reiterating 3% guidance midpoint (3) (3) (3) FY2026 Revenue Growth Outlook • Expects 3.2%-4.0% as reported, including a foreign currency benefit of 60 bps, unchanged as compared with prior quarter assumption • Roughly half of the expected growth in fiscal 2026 expected to be inorganic in nature
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27 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 27 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 17.2% 17.5% 17.6% 17.8% 18.4% 21.4% 21.6% Guidance Range Non-GAAP Operating Margin Sustained Margin Expansion in FY2026 16.5% 17.5% 17.2% 17.8% 18.1% 18.7% 21.7% 21.1% FY2026E: +20 bps YoY 21.3%-21.9% Annual Non-GAAP(1) Operating Margin: FY2020 – FY2026E(2) +20 bps YoY at the midpoint of the FY2026 target range of 21.3%-21.9% Balancing generative AI growth investments with internal transformation and implementation of agentic capabilities to reshape cost and drive efficiency 1. Non-GAAP. See reconciliation tables in appendix 2. Refer to https://investors.amdocs.com/ and earnings reports issued on 11/10/20, 11/2/2021, 11/8/2022, 11/7/2023, 11/12/2024 and 11/11/2025 for reconciliation of non-GAAP operating margin in FY2018, FY2019, FY2020, FY2021, FY2022, FY2023, FY2024 and FY2025 21.9% 21.3% FY2025 +300 bps YoY: Business activity phase out & internal efficiency gains Balancing growth investments with accelerated internal transformation to become an agentic-first organization Operating margin may fluctuate slightly between quarters
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28 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 28 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 3.0% 9.8% 12.1% 11.5% 2.3% 1.9% 2.0% 2.1% 2.2% 2.6% 2.7% 5.3% 11.7% 14.1% 13.6% 8.7%* FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026E Non-GAAP Diluted EPS Growth Dividend Yield Total Shareholder Return FY2026 Non-GAAP Diluted EPS Growth Outlook 5.5% (1) *Non-GAAP(2) EPS growth of 6.0%, plus 2.7% dividend yield(3) (1) Reiterating 6.0% guidance midpoint 11.1%11.2% 8.5% Total Shareholder Return(3)(4) Non-GAAP(2) Diluted EPS Growth YoY % + Dividend Yield 1. Pro forma metrics exclude the financial impact of OpenMarket (which was divested on December 31, 2020) from fiscal year 2021. 2. Non-GAAP. See reconciliation tables in appendix 3. Expected total shareholder return assumes Non-GAAP EPS growth plus dividend yield (based on fiscal year end closing share price); FY2026E assumed 6.0% midpoint of non-GAAP EPS outlook, and dividend yield based on quarterly rate of $0.569 as of share price on 11/11/25 4. Refer to https://investors.amdocs.com/ and earnings reports issued on 11/10/2020, 11/2/2021, 11/8/2022, 11/7/2023, 11/12/2024 and 11/11/2025 for non- GAAP reconciliation in FY2020, FY2021, FY2022, FY2023, FY2024 and FY2025 Non-GAAP(2) EPS growth outlook tightened to 5.5%-6.5% in FY2026E Reiterating 6% midpoint guidance 9.0% 6.0% 6.5% Reiterating the 6% midpoint
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29 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 29 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Q&A
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30 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 30 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Q4 Fiscal 2026 Outlook $1,175 - $1,215 million Revenue $1.48 - $1.56GAAP EPS $1.94 - $2.00Non-GAAP(1) EPS 106 millionShare Count Non-GAAP effective tax rate within the annual guidance range of 16.0%-19.0%Tax Q4 & FY2026 Outlook PreviousUpdatedFY 2026 Outlook 2.6% - 4.6% 3.2% - 4.0% Revenue growth As reported 2.0% - 4.0%2.6% - 3.4%Revenue growth Constant currency(2) 12.0% - 15.0%(5.0)% - (3.0)%GAAP EPS Growth 5.0% - 7.0%5.5% - 6.5%Non-GAAP(1) EPS growth 21.3% - 21.9%21.3% - 21.9%Operating Margin Non-GAAP(1) 16.0% - 19.0%16.0% - 19.0%Effective Tax Rate Non-GAAP(1) $710-$730 million$710-$730 millionFree Cash Flow 1. Non-GAAP. See reconciliation tables in appendix. Free cash flow outlook is before expected restructuring payments 2. Constant currency. Assumes exchange rates in the current period were unchanged from the prior period
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31 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 31 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Appendix Outlook & Reconciliation Tables
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32 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 32 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Reconciliation Tables a) The amounts under "Purchase of property and equipment, net”, include immaterial proceeds from sale of property and equipment for the three and nine months ended June 30, 2026 and 2025, respectively.
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33 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 33 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Reconciliation Tables
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34 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs 34 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Reconciliation Tables
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35 Information Security Level 2 – Sensitive. © 2026 – Proprietary & Confidential Information of Amdocs Thank you!