Slides
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Q1 FY27 Earnings August 6 , 2026 Gen norton Avast LifeLock by norton MoneyLion
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Forward-Looking Statements 2Copyright © 2026 Gen Digital Inc. All rights reserved. This presentation contains statements which may be considered forward-looking within the meaning of the U.S. federal securities laws. In some cases, you can identify these forward-looking statements by the use of terms such as “expect,” “will,” “continue,” or similar expressions, and variations or negatives of these words, but the absence of these words does not mean that a statement is not forward-looking. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, but not limited to, the statements relating to our long-term targets (including those related to Debt/EBITDA Net Leverage), Q2 FY2027 and Fiscal Year 2027 Non-GAAP guidance, FY2027 key assumptions, andgo-forward capital structure, and any statements of assumptions underlying any of the foregoing. These statements are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from results expressed or implied in this presentation. Such risk factors include, but are not limited to, those related to: projections of our future financial performance; anticipated growth and trends in our businesses and in our industries; the consummation of or anticipated impacts of acquisitions (including our ability to achieve synergies and associated cost savings from any such acquisitions), divestitures, restructurings, stock repurchases, financings, debt repayments and investment activities;the outcome or impact of pending litigation, claims or disputes; difficulties in executing the operating model for the consumer businesses; lower thananticipated returns from our investments in direct customer acquisition; difficulties in retaining our existing customers and converting existing non-paying customers to paying customers; difficulties and delays in reducing run rate expenses and monetizing underutilized assets; the successful development of new products and upgrades and the degree to which these new products and upgrades gain market acceptance; our ability to maintain our customer and partner relationships; the anticipated growth of certain market segments; fluctuations and volatility in our stock price; our ability to successfully execute strategic plans; the vulnerability of our solutions, systems, websites and data to intentional disruption by third parties; changes to existing accounting pronouncements or taxation rules or practices; and general business and macroeconomic conditions in the U.S. and worldwide, including economic recessions, the impact of inflation, and ongoing and new geopolitical conflicts, and other global macroeconomic factors on our operations and financial performance. Additional information concerning these and other risk factors is contained in the Risk Factors sections of our most recent reports on Form 10-K and Form 10-Q. We encourage you to read those sections carefully. There may also be other factors that have not been anticipated or that are not described in our periodic filings with the SEC, generally because we did not believe them to be significant at the time, which could cause actual results to differ materially from our projections and expectations. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. We assume no obligation, and do not intend, to update these forward-looking statements as a result of future events or developments.
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3Copyright © 2026 Gen Digital Inc. All rights reserved.
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Q1 FY27 Revenue Q1 FY27 Non-GAAP EPS Paid Customers Free Cash Flow (LTM) $1.3B $0.71 81M $1.5B+ up YoY11% up YoY19% up YoY5M up YoY15% 4Copyright © 2026 Gen Digital Inc. All rights reserved. Note: All numbers presented are non-GAAP unless otherwise indicated. See the appendix for reconciliation of financial measures from GAAP to non- GAAP. Adjusted growth calculated excluding the extra fiscal week in Q1 FY26 and including MoneyLion stub financials in the prior-year comparison Gen Delivers Double-Digit Growth
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Revenue grew 11% to $1.34B, beating the high-end of our guidance and continuing the strong momentum across our major categories Cyber Safety revenue increased 4% and Trust-Based Solutions grew 24%, both in line with our mid-term growth targets, while delivering on their respective margin targets of 60%+ and 30% Operating income reached $668M, up 9% as we delivered double-digit top-line growth, while investing in strategic key growth initiatives and product expansions We returned $181M to shareholders in Q1 and $900M+ over last 12 months, while lowering net leverage to 2.95x Non-GAAP EPS grew 19% as strong top-line growth, efficiency gains and disciplined capital allocations drove earnings leverage Key Financial Highlights Q1 Fiscal Year 2027 5Copyright © 2026 Gen Digital Inc. All rights reserved. Note: All numbers presented are non-GAAP unless otherwise indicated. See the appendix for reconciliation of financial measures from GAAP to non- GAAP. Adjusted growth calculated excluding the extra fiscal week in Q1 FY26 and including MoneyLion stub financials in the prior-year comparison
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6 What's New 6Copyright © 2026 Gen Digital Inc. All rights reserved.
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From Cyber Safety to Financial Empowerment: Award-winning solutions and world-class service 7Copyright © 2026 Gen Digital Inc. All rights reserved.
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Premium All-In-One Norton 360 becomes the definitive home for the complete Norton experience, with a modernized UX and simplified app portfolio Shifting from passive, set-and-forget protection to a proactive experience and surfacing what's happening and what to do next, such as personalized insights, prioritized action cards, and localized scams Organized around people rather than devices, with focused entry points so customers can start with their need today and grow into the full experience over time 8Copyright © 2026 Gen Digital Inc. All rights reserved.
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Copyright © 2026 Gen Digital Inc. All rights reserved. 9 Free tier of Avast One provides comprehensive protection rather than watered-down features designed to pressure an upgrade Best-in-class features right from the start, including free antivirus and real-time threat protection, scam detection, no-log VPN, data breach monitoring, and device cleanup Seamlessly unlock even more protection and customization without switching apps, re-entering payment details or rebuilding setup 9Copyright © 2026 Gen Digital Inc. All rights reserved. You're in Control
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LifeLock launched several new features, with a focus on driving greater user engagement through better personalization and insights Card Exposure Control – shows users every merchant holding their card data, flags the risk level, and lets them opt out in two taps Ask LifeLock – an AI assistant that surfaces insights on dark web alerts and suspicious financial trends, reviews transactions for anomalies and helps users resolve unrecognized charges Protection-Led Marketplace – gives users a protection score and editorial guidance on credit card offers 10Copyright © 2026 Gen Digital Inc. All rights reserved. Protection for Your Life
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Copyright © 2026 Gen Digital Inc. All rights reserved. 11 MoneyLion One rewards customers with a one-stop membership to earn more from their paychecks, bundling premium and competitive banking, high-yield savings, and managed investing The only banking membership to offer identity protection built-in, powered by LifeLock Continuously monitors income, bills and spending to anticipate upcoming cash flow shortfalls and offers personalized recommendations, insights and financial products to address those needs Members can access for free with $500+ in monthly direct deposit or $9.99/month without Simple Money Management
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More partnerships. 30+ new partner adds expanded our marketplace across lending, cards, insurance, and adjacent financial needs More user impact. 425M+ network inquiries, leveraging personalized insights and recommendations, matched with relevant financial product discovery More solutions. Expanded insurance offerings, reinforcing our position across a broader set of consumer financial options Recent Equifax partnership embeds Engine into myequifax.com, delivering personalized financial recommendations to consumers checking their credit 12Copyright © 2026 Gen Digital Inc. All rights reserved. Personalized Recommendations
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Attackers spent the first half of 2026 abusing trust that already exists: hotel workflows, messaging sessions, browser data, developer tools, AI agents, payment habits and identity signals Threat Report H1 2026 Breach notification alerts blocked Web skimming Breach events Depository activity alerts Up 62% vs H2'25 311M average per month Up 628% vs. H2'25 Blocked attacks in H1'26, up 212% vs. H2'25 Up 95% vs H2'25 Up 734% vs H2'25 Tech support scam attacks blocked 20.3M Tracking attempts blocked 13Copyright © 2026 Gen Digital Inc. All rights reserved. 1.9B+ 3.3M 1M 18,618 1.5M
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Copyright © 2026 Gen Digital Inc. All rights reserved. 14 Fearless Planet Index Powered by telemetry from the Gen Threat Labs, the Fearless Planet Index (FPI) transforms billions of real- world security signals into an interactive view of today's digital threat landscape. Within the FPI, people can: • Select a country to explore its most prominent scams, malware threats and identity alerts • See whether each threat or alert has increased, decreased, remained stable or is new • Explain each threat or alert and provide practical guidance to help people protect themselves 14Copyright © 2026 Gen Digital Inc. All rights reserved.
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Q1 FY27 Results 15Copyright © 2026 Gen Digital Inc. All rights reserved.
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• Accelerated top-line growth reflects structural increase in demand and momentum • 5th consecutive quarter of double-digit topline growth; Bookings and Revenue up 11% • Strong operating margins at 50%, with 61% margin in Cyber Safety Platform and 30% in Trust-Based Solutions • 11th quarter of double-digit EPS growth, driven by profitable growth and disciplined capital allocation Q1 FY27 Non-GAAP Financial Highlights $1.20B $1.28B Q1 FY26 Q1 FY27 $1.26B $1.34B Q1 FY26 Q1 FY27 $650M $668M Q1 FY26 Q1 FY27 $0.64 $0.71 Q1 FY26 Q1 FY27 Revenue +11% Y/Y adjusted +6% Y/Y reported Bookings +11% Y/Y adjusted +7% Y/Y reported Operating Income +9% Y/Y adjusted +3% Y/Y reported EPS +19% Y/Y adjusted +12% Y/Y reported OM 50%OM 52% 16Copyright © 2026 Gen Digital Inc. All rights reserved. Note: All numbers presented are non-GAAP unless otherwise indicated. See the appendix for reconciliation of financial measures from GAAP to non- GAAP. Adjusted growth calculated excluding the extra fiscal week in Q1 FY26 and including MoneyLion stub financials in the prior year comparison.
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Execution at Scale Q1 Revenue of $1.34B, up 11% Y/Y adjusted • Leader in Cyber Safety memberships, now enhanced with multi-layered agentic security and scam protection • Engine growth accelerating through new verticals, expanded partnership, and stronger cross-sells Q1 Operating Income of $668M, up 9% Y/Y adjusted • 50% Operating Margin, in line with expectations • Cyber Safety 61% margin, durable and scalable foundation • Trust-Based Solutions 30% margin, profitable growth • Y/Y driven by segment mix, expansion within categories Q1 EPS of $0.71, up 19% Y/Y adjusted • Effective capital deployment with share count down (3%) Y/Y • 11th consecutive quarter of double-digit EPS growth Non-GAAP P&L ($mil), except per share amounts Q1 FY26 Q1 FY27 Y/Y % Adjusted Y/Y % Revenue $1,257 $1,336 6% 11% Gross Profit 1,057 1,093 3% Gross Margin 84% 82% (2 pts) Operating Expenses $407 $425 4% % of Revenue 32% 32% -- Operating Income $650 $668 3% 9% Operating Margin 52% 50% (2 pts) Other Inc / (Expense) (140) (115) NM Effective Tax Rate 22% 22% -- Net Income $398 $431 8% EPS $0.64 $0.71 12% 19% Diluted Share Count 624 603 (3%) 17Copyright © 2026 Gen Digital Inc. All rights reserved. Note: All numbers presented are non-GAAP unless otherwise indicated. See the appendix for reconciliation of financial measures from GAAP to non-GAAP. Adjusted growth calculated excluding the extra fiscal week in Q1 FY26 and including MoneyLion stub financials in the prior year comparison
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Q1 FY26 Q1 FY27 Y/Y % Adjusted Y/Y % Revenue $869 $846 (3%) 4% Op. Income $530 $519 (2%) 5% Op. Margin 61% 61% -- -- Stable, resilient growth with robust margins above 60% • Q1 Bookings and Revenue up 4% Y/Y adjusted, supported by increased membership adoption and Gen Platform capabilities • Most comprehensive Norton 360 with identity protection annualized revenue crossed half a billion • Operating margin of 61%, led by strong incremental margins and continued AI efficiencies Segment Performance ($ in millions, unless otherwise indicated) Cyber Safety Platform includes our security, cyber safety suites, and privacy business lines Cyber Safety Platform 18Copyright © 2026 Gen Digital Inc. All rights reserved.Note: Adjusted growth calculated excluding the extra fiscal week in Q1 FY26 in the prior year comparison
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Trust-Based Solutions Segment Performance ($ in millions, unless otherwise indicated) Trust-Based Solutions includes our identity, personal financial management, and Engine marketplace business lines Scaling growth engines across identity, personal financial management, and financial marketplace • Q1 Bookings and Revenue up 25% and 24% Y/Y adjusted, respectively • Engine crossed half a billion revenue run-rate with continued vertical and partner expansion • Operating margin remained robust at 30% as we balanced strong topline growth with investments for continued momentum Q1 FY26 Q1 FY27 Y/Y % Adjusted Y/Y % Revenue $388 $490 26% 24% Op. Income $120 $149 24% 26% Op. Margin 31% 30% (1 pt) -- 19Copyright © 2026 Gen Digital Inc. All rights reserved.Note: Adjusted growth calculated excluding the extra fiscal week in Q1 FY26 and including MoneyLion stub financials in the prior year comparison
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• Direct revenue adjusted growth of 6% • Cyber safety all-in-one membership adoption above 60% across Norton, Avast, and Avira • Robust personal financial management growth • Partner revenue adjusted growth of 31% • Engine marketplace scaling with new verticals and partner logos • Strongest Q1 new sales in employee benefits • Paid customers: • Scaled to 81M, continued subscriber growth with accelerated marketplace expansion • vs. 79M prior quarter; 76M prior year Q1 FY26 Q1 FY27 Y/Y % Adjusted Y/Y % Direct $1,054 $1,063 1% 6% + Partner $203 $273 34% 31% = Revenue $1,257 $1,336 6% 11% Paid Customers 76M 81M 5M 5M Performance Metrics Revenue by Channel, Paid Customers ($ in millions, unless otherwise indicated) 20Copyright © 2026 Gen Digital Inc. All rights reserved. Note: All numbers presented are non-GAAP unless otherwise indicated. See the appendix for reconciliation of financial measures from GAAP to non-GAAP. Adjusted growth calculated excluding the extra fiscal week in Q1 FY26 and including MoneyLion stub financials in the prior year comparison. See the appendix for the definition of our performance metrics.
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(1) Using Covenant Debt EBITDA (Non-GAAP) • Operating and Free Cash Flow of $430M+ • $1.5B capital deployed (LTM) towards share buyback, debt paydown, dividends • $2B remaining in share buyback authorization • Liquidity of $2.1B • $0.6B cash + $1.5B revolver undrawn • Debt / EBITDA (1) Net Leverage of 2.95x • Operating below 3.0x net leverage target shared at 2023 Investor Day • Supported by strong cash generation and financial discipline Key Balance Sheet, Cash Flow Metrics ($ millions) Q1 FY26 Q4 FY26 Q1 FY27 Balance Sheet Cash, cash equivalents and restricted cash $828 $411 $564 Contract Liabilities $1,873 $1,977 $1,919 Debt (Principal) $8,963 $8,275 $8,230 Cash Flow Cash Flow from Operations $409 $479 $434 Capital Expenditures $4 $3 $4 Free Cash Flow $405 $476 $430 Capital Allocation Dividends + Equivalents (Qtrly $0.125 per common share) $82 $76 $81 Debt Paydown $191 $219 $45 Share Repurchase $134 $200 $100 Balance Sheet & Cash Flow 21Copyright © 2026 Gen Digital Inc. All rights reserved.
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Raised FY27 Non-GAAP Guidance Note: Al l numbers presented are non-GAAP unless otherwise indi cated ● Guid an ce in USD assu mes end in g Q1 FY2 7 foreig n exch an ge rates ● Assum es n on-GAAP effective tax rate of ~22 % ● We are n ot provid ing GAAP EPS g uidan ce b ecause most no n-GAAP adjustmen ts pertain to events th at h ave n ot yet occurred an dwou ld be u nreasonably bu rden so me to fo recast $5.375 - $5.475B Revenue 9 - 11% Y/Y $2.87 - $2.97 EPS 14 - 18% Y/Y FY27 $1.325 - $1.350B Revenue 9 - 11% Y/Y $0.71 - $0.73 EPS 15 - 18% Y/Y Q2 FY27 Key Assumptions: • Revenue up 9 - 11% Y/Y adjusted (raised from 8 - 10% Y/Y adjusted) • EPS up 14 - 18% Y/Y adjusted (raised from 13 - 17% Y/Y adjusted) • Segment margins stable: Cyber Safety 60%+ Trust-Based Solutions 30% • Net of investments in Gen platform and AI capabilities • Excess Free Cash Flow returned to shareholdersFY27 adjusted growth calculated excluding the extra fiscal week in Q1 FY26 and including MoneyLion stub financials in the prior year comparison 22Copyright © 2026 Gen Digital Inc. All rights reserved.
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Supplemental Information 23Copyright © 2026 Gen Digital Inc. All rights reserved.
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Trended Non-GAAP Segment Financials and Performance Metrics ($Ms) Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY26 Q1 FY27 Cyber Safety Platform: Segment Revenue $869 $814 $819 $837 $3,339 $846 Operating Income $530 $500 $503 $508 $2,041 $519 Operating Margin 61% 61% 61% 61% 61% 61% Trust-Based Solutions: Segment Revenue $388 $406 $421 $446 $1,661 $490 Operating Income $120 $123 $126 $133 $502 $149 Operating Margin 31% 30% 30% 30% 30% 30% Other Performance Metrics Direct Revenue $1,054 $1,010 $1,025 $1,048 $4,137 $1,063 Partner Revenue $203 $210 $215 $235 $863 $273 Bookings $1,202 $1,222 $1,319 $1,364 $5,107 $1,284 Paid Customers (Ms) 76 77 78 79 79 81 Note: Our first quarter of FY26 consists of a 14 week period, compared to our first quarter in FY27, which consisted of a 13 week period. Please see appendix slide 38 for definitions of our metrics. 24Copyright © 2026 Gen Digital Inc. All rights reserved.
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Capital Structure Debt Maturities in $Ms (Initial Principal Amounts) As of July 3, 2026 Note: Graph not to scale. 2027 SUN $900 TLA $3,568 2030 SUN $600 TLB $2,395 Facility Principal ($M) Maturity Coupon Revolver (RCF): undrawn $1,500 FY31 If drawn: SOFR+1.375% Term Loan A (TLA) $2,707 FY31 SOFR+1.375% Term Loan B (TLB) $2,331 FY30 SOFR+1.75% Term Loan B (TLB) $742 FY33 SOFR+1.75% 2027 Sr. Unsecured Note (SUN) $900 FY28 6.75% 2030 Sr. Unsecured Note (SUN) $600 FY31 7.125% 2033 Sr. Unsecured Note (SUN) $950 FY33 6.25% • Current cost of debt ~5.6% • ~70% floating debt • Debt maturities extended and staggered through FY33 Notes: • RCF (if drawn) / TLA spread is variable, based upon the better of company’s leverage ratio and unsecured credit rating and ranging between 1.125% and 1.75%. As of 07/03/2026, the drawn spread for these facilities is 1.375%. • The Company at its option can redeem, prior to its stated maturity, the 2027, 2030, and 2033 Sr. Unsecured Notes at pre-specified redemption prices beginning September 30, 2024, September 30, 2025, and April 01, 2028. • The TLA and RCF m ature in FY31, subject to a springing m aturity 91 days prior to the applicable 2027 SUN, FY30TLB or 2030 SUN maturity, absent satisfaction of the mi nimum liquidity test FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 2033 SU N $950 Revolver (un drawn ) $1,500 2027 SU N $900 TLA $2, 707 2030 SU N $600 TLB $2, 331 TLB $742 25Copyright © 2026 Gen Digital Inc. All rights reserved.
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Note: Our first quarter of FY26 consisted of a 14 week period, compared to our first quarter in FY27, which consisted of a 13 week period. Adjusted growth calculated excluding the extra fiscal week in Q1 FY26 and including MoneyLion financials in the prior year comparison. For details on adjusted growth rates, refer to slides 31 and 32 for the reconciliation of the comparative period amounts. Trended Non-GAAP Quarterly Results Non-GAAP P&L ($M), except per share amounts Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY26 Q1 FY27 Cyber Safety Platform 869 814 819 837 3,339 846 Trust-Based Solutions 388 406 421 446 1,661 490 TOTAL REVENUE $1,257 $1,220 $1,240 $1,283 $5,000 $1,336 Y/Y % 30% 25% 26% 27% 27% 6% Y/Y % (Adjusted) 10% 10% 8% 9% 9% 11% Gross profit $1,057 $1,021 $1,035 $1,068 $4,181 $1,093 Gross margin 84.1% 83.7% 83.5% 83.2% 83.6% 81.8% • Sales and marketing 270 278 286 305 1,139 284 • Research and development 95 87 83 89 354 105 • General and administrative 42 33 37 33 145 36 Operating expenses 407 398 406 427 1,638 425 % of revenue 32.4% 32.6% 32.7% 33.3% 32.8% 31.8% Operating income $650 $623 $629 $641 $2,543 $668 Operating margin 51.7% 51.1% 50.7% 50.0% 50.9% 50.0% • Interest expense (149) (139) (131) (122) (541) (119) • Other income / (expense) 9 12 8 4 33 4 Income before income taxes $510 $496 $506 $523 $2,035 $553 • Provision for income tax 112 109 112 115 448 122 Net income $398 $387 $394 $408 $1,587 $431 EPS $0.64 $0.62 $0.64 $0.67 $2.56 $0.71 • Diluted share count 624 624 618 609 619 603 • Depreciation 4 4 4 4 16 4 Reported EBITDA $654 $627 $633 $645 $2,559 $672 26Copyright © 2026 Gen Digital Inc. All rights reserved.
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Note: Our first quarter of FY26 consisted of a 14 week period, compared to our first quarter in FY27, which consisted of a 13 week period. Reconciliation to Non -GAAP Gross Profit GAAP to Non-GAAP Gross Profit($M) Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY26 Q1 FY27 GAAP Results of Operation Gross profit (GAAP) $990 $954 $972 $1,007 $3,923 $1,029 Non-GAAP Gross Profit Adjustments Cost of revenues • Stock-based compensation 2 1 (4) — (1) 1 • Amortization of intangible assets 65 66 67 61 259 63 TOTAL GROSS PROFIT ADJUSTMENT 67 67 63 61 258 64 Non-GAAP Results of Operation Net revenues 1,257 1,220 1,240 1,283 5,000 1,336 Cost of revenues 200 199 205 215 819 243 GROSS PROFIT (NON-GAAP) $1,057 $1,021 $1,035 $1,068 $4,181 $1,093 27Copyright © 2026 Gen Digital Inc. All rights reserved.
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Note: Our first quarter of FY26 consisted of a 14 week period, compared to our first quarter in FY27, which consisted of a 13 week period. Reconciliation to Non -GAAP Operating Income GAAP to Non-GAAP Operating Income($M) Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY26 Q1 FY27 GAAP Results of Operation Operating income (GAAP) $446 $438 $433 $803 $2,120 $443 Total Non-GAAP gross profit adjustment 67 67 63 61 258 64 Non-GAAP Operating Expense Adjustments Stock-based compensation 64 54 56 62 236 49 Amortization of intangible assets 54 55 55 54 218 56 Restructuring and other costs 10 4 11 10 35 32 Acquisition and integration costs 5 2 2 3 12 1 Litigation costs 5 2 10 (353) (336) 23 Other (1) 1 (1) 1 — — TOTAL OPERATING EXPENSE ADJUSTMENT 137 118 133 (223) 165 161 Non-GAAP Results of Operation Gross profit 1,057 1,021 1,035 1,068 4,181 1,093 • Sales and marketing 270 278 286 305 1,139 284 • Research and development 95 87 83 89 354 105 • General and administrative 42 33 37 33 145 36 Total operating expenses 407 398 406 427 1,638 425 Operating income(Non-GAAP) $650 $623 $629 $641 $2,543 $668 28Copyright © 2026 Gen Digital Inc. All rights reserved.
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Note: Our first quarter of FY26 consisted of a 14 week period, compared to our first quarter in FY27, which consisted of a 13 week period. Reconciliation to Non -GAAP Net Income GAAP to Non-GAAP Net Income($M) Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY26 Q1 FY27 GAAP Results of Operation Net income (GAAP) $135 $134 $192 $512 $973 $215 Total Non-GAAP gross profit adjustment 67 67 63 61 258 64 Total Non-GAAP operating expense adjustment 137 118 133 (223) 165 161 Non-GAAP Other Non-Operating Expense (Income) Adj Non-cash interest expense 7 7 6 8 28 5 Loss (gain) on extinguishment of debt — — — 9 9 — Change in fair value and impairment of non-marketable equity investments — 69 10 — 79 — Loss (gain) on sale of properties and nonfinancial assets 1 — (16) — (15) — Other (2) 2 1 (1) — — Total adjustments to GAAP income before income taxes 210 263 197 (146) 524 230 Income tax effect of non-GAAP adjustments 53 (10) 5 42 90 (14) Total net income adjustment 263 253 202 (104) 614 216 Non-GAAP Results of Operation Operating income 650 623 629 641 2,543 668 Interest expense (149) (139) (131) (122) (541) (119) Other income (expense), net 9 12 8 4 33 4 Income before income taxes 510 496 506 523 2,035 553 Provision for income taxes 112 109 112 115 448 122 Net income(Non-GAAP) $398 $387 $394 $408 $1,587 $431 29Copyright © 2026 Gen Digital Inc. All rights reserved.
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(1) Total may not add due to rounding. (2) Other includes non-cash interest expense, loss (gain) on extinguishment of debt, and other minor reconciling items. Reconciliation to Non -GAAP EPS and Net Income GAAP to Non-GAAP EPS and Net Income (1) ($M), except per share amounts Q1FY27 EPS Net Income GAAP EPS / Net Income $0.36 $215 • Stock based compensation 0.08 50 • Amortization of intangible assets 0.20 119 • Restructuring and other costs 0.05 32 • Acquisition and integration costs 0.00 1 • Litigation costs 0.04 23 • Other (2) 0.01 5 • Adjustment to GAAP provision for income taxes (0.02) (14) Total adjustments 0.36 216 Non-GAAP EPS / Net Income $0.71 $431 30Copyright © 2026 Gen Digital Inc. All rights reserved.
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Adjusted Revenues ($M) As Reported (GAAP) MoneyLion Historical Adjusted (Non-GAAP) Q1 FY25 965 131 1,096 Q2 FY25 974 135 1,109 Q3 FY25 986 159 1,145 Q4 FY25 1,010 169 1,179 FY25 $3,935 $594 $4,529 Reconciliation to historical comparative Non-GAAP Adjusted Revenues Copyright © 2026 Gen Digital Inc. All rights reserved.
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32Copyright © 2026 Gen Digital Inc. All rights reserved. Reconciliation to Q1 FY26 Non -GAAP Adjusted Revenue Non-GAAP Adjusted P&L ($M), except per share amounts Q1 FY26 Reported (Non-GAAP) Extra week MoneyLion stub period Q1 FY26 Adjusted (Non-GAAP) Q1 FY27 Reported (Non-GAAP) Adjusted Y/Y % Cyber Safety Platform 869 (56) — 813 846 4% Trust-Based Solutions 388 (31) 38 395 490 24% Total Revenue $1,257 $(87) $38 $1,208 $1,336 11% Direct 1,054 (78) 23 999 1,063 6% Partner 203 (9) 15 209 273 31% Total Revenue $1,257 $(87) $38 $1,208 $1,336 11%
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33Copyright © 2026 Gen Digital Inc. All rights reserved. Reconciliation to Q1 FY26 Non -GAAP Adjusted Results Non-GAAP Adjusted P&L ($M), except per share amounts Q1 FY26 Reported (Non-GAAP) Extra week MoneyLion stub period Q1 FY26 Adjusted (Non-GAAP) Q1 FY27 Reported (Non-GAAP) Adjusted Y/Y % Total Revenue $1,257 $(87) $38 $1,208 $1,336 11% Operating income $650 $(44) $8 $614 $668 9% Net income $398 $(30) $8 $376 $431 15% EPS $0.64 $(0.05) $0.01 $0.60 $0.71 19% Diluted share count 624 624 624 624 603 (3%)
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Note: Our first quarter of FY26 consisted of a 14 week period, compared to our first quarter in FY27, which consisted of a 13 week period. Note: Semi-annual SUN interest payments due end of month in March and September, year-over-year compares impacted by fiscal calendar timing. Both calendar year 2025 interest payments were recorded in Q1 and Q2 FY26 Reconciliation to Non -GAAP (Unlevered) Free Cash Flow Unlevered Free Cash Flow Reconciliation ($M) Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY26 Q1 FY27 Net Cash Flow from Operating Activities $409 $116 $541 $479 $1,545 $434 Adjustments: • Capital Expenditures (4) (9) (6) (3) (22) (4) Free Cash Flow $405 $107 $535 $476 $1,523 $430 Adjustments: • Cash paid for interest expense, net of interest rate hedges 181 187 92 161 621 79 Unlevered Free Cash Flow $586 $294 $627 $637 $2,144 $509 34Copyright © 2026 Gen Digital Inc. All rights reserved.
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Revenue by Geo($M) Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY26 Q1 FY27 US 819 809 824 857 3,309 907 Rest of Americas 60 55 56 53 224 54 Americas 879 864 880 910 3,533 961 EMEA 268 257 263 273 1,061 274 APJ 110 99 97 100 406 101 Total Revenue $1,257 $1,220 $1,240 $1,283 $5,000 $1,336 Note: Our first quarter of FY26 consisted of a 14 week period, compared to our first quarter in FY27, which consisted of a 13 week period. Trended GAAP Revenue by Geo 35Copyright © 2026 Gen Digital Inc. All rights reserved.
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(1) Total may not add due to rounding. (2) Other non-operating expense, net is equal to total non-operating expense, net excluding net interest expense and other minor reconciling items. Note: Our first quarter of FY26 consisted of a 14 week period, compared to our first quarter in FY27, which consisted of a 13 week period. Trended EBITDA (Non -GAAP) Reported EBITDA (Non-GAAP)(1) ($M) Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY26 Q1 FY27 Net income $135 $134 $192 $512 $973 $215 Adjustments: • Net interest expense 147 140 132 125 544 121 • Income tax expense (benefit) 165 99 117 157 538 108 • Depreciation and amortization 123 125 126 119 493 123 EBITDA (Non-GAAP) 570 498 567 913 2,548 567 Adjustments to EBITDA: • Stock-based compensation 66 55 52 62 235 50 • Restructuring and other costs 10 4 11 10 35 32 • Acquisition and integration costs 5 2 2 3 12 1 • Litigation costs 5 2 10 (353) (336) 23 • Loss (gain) on extinguishment of debt — — — 9 9 — • Change in fair value and impairment of non- marketable equity investments — 69 10 — 79 — • Loss (gain) on sale of properties and nonfinancial assets 1 — (16) — (15) — • Other cost of revenues and operating expenses (1) 1 (1) 1 — — • Other non-operating expense (income), net (2) (2) (4) (2) — (8) (1) Reported EBITDA (Non-GAAP) $654 $627 $633 $645 $2,559 $672 36Copyright © 2026 Gen Digital Inc. All rights reserved.
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(1) Total may not add due to rounding. (2) Other non-operating expense, net is equal to total non-operating expense, net excluding net interest expense and other minor reconciling items. (3) Includes Adjusted financial wellness EBITDA not included in the Company's financial results. (4) LTM denotes results for the last twelve fiscal month period. Debt Covenant EBITDA (Non -GAAP) Debt Covenant EBITDA (Non-GAAP)(1) ($M) LTM (4) Net income $1,053 Adjustments: • Net interest expense 518 • Income tax expense (benefit) 481 • Depreciation and amortization 493 EBITDA (Non-GAAP) $2,545 Adjustments to EBITDA: • Stock-based compensation 219 • Restructuring and other costs 57 • Acquisition and integration costs 8 • Litigation costs (318) • Loss (gain) on extinguishment of debt 9 • Change in fair value and impairment of non-marketable equity investments 79 • Loss (gain) on sale of properties and nonfinancial assets (16) • Other cost of revenues and operating expenses 1 • Other non-operating expense (income), net (2) (7) Reported EBITDA (Non-GAAP) $2,577 Adjustments to Reported EBITDA: • Other non-operating expense (income), net (2) 7 • Other covenant adjustments (3) 13 Consolidated Debt Covenant EBITDA (Non-GAAP) $2,597 37Copyright © 2026 Gen Digital Inc. All rights reserved.
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We use non-GAAP measures of operating margin, operating income, net income, results of operations, and earnings per share, which are adjusted from results based on GAAP and exclude certain expenses, gains and losses. We also provide the non -GAAP metrics of revenues, EBI TDA, reported EBITDA, diluted share count, gross profit, gross profit adjustments, operating expense adjustments, other non -operating expense (income) adjustments, unlevered free cash flow, and free cash flow, which is defined as cash flows from operating activities, le ss purchases of property and equipment. These non -GAAP financial measures are provided to enhance the user's understanding of our past financial performance and our prospects for the future, and to provide more meaningful comparisons of our current results to our historical perform ance by adjusting items that affect comparability between periods. Our management team uses these non -GAAP financial measures in assessing Gen's performance, as well as in planning and forecasting future periods. These non -GAAP financial measures are not computed according to GAAP and the methods we use to compute them may differ from the methods we use to compute them may differ from the methods used by other companies. Non -GAAP financial measures are supplemental, should not be considered a substitute for financial information p resented in accordance with GAAP and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP. Readers are encouraged to review the reconciliation of our non -GAAP financial measures to the comparable GAAP results, whi ch is attached to our quarterly earnings release, and which can be found, along with other financial information including the Earn ings Presentation, on the investor relations page of our website at Investor.GenDigital.com . No reconciliation of the forecasted range for non -GAAP revenues and EPS guidance is included in this release because most non -GAAP adjustments pertain to events that have not yet occurred. It would be unreasonably burdensome to forecast, therefore we are unable to provide an accurate estimate. Use of GAAP and Non-GAAP financial information 38Copyright © 2026 Gen Digital Inc. All rights reserved.
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Bookings: Bookings are defined as customer orders received that are expected to generate net revenues in the future. We present the operational metric of bookings because it reflects customers' demand for our products and services and to assist readers in analyzing our performance in future periods. Cyber Safety Platform: includes our security and privacy products, as well as our cyber safety comprehensive suites which deliver technology solutions and superior threat protection to help people navigate the digital world, securely, privately and confidently. Trust-Based Solutions: includes our identity, reputation, and financial wellness products, which provide innovative solutions and insights that empower consumers to grow and manage their identity, reputation and finances confidently. Direct revenue: reflects subscriptions sold directly through e-commerce or mobile channels, and revenue generated from financial transactions directly made through Gen properties or marketplaces. Partner revenue: reflects partner-sourced and channel revenue via retailers, employee benefits, telcos, publishers, and strategic partnerships, including revenue generated from product usage or products sold through our financial marketplace. Paid Customers: We define paid customers as active users of our products and solutions, including subscribers with an active paid subscription to our products at the end of the reported period. Paid customers also includes product users with a unique account and at least one revenue-generating transaction in the relevant active period of each respective product category, whether through our first-party personal finance products, transacting through our financial marketplaces, or generating revenue through product usage. We exclude users on free trials and those who have not actively transacted in the relevant period of each respective product category.In order to properly reflect Gen’s customer cohorts that contribute to revenue given the dynamic nature of consumers and our product portfolio, our methodology is subject to change from time to time. The methodologies used to measure these metrics require judgment and we regularly review our metrics to improve their accuracy. However, our ability to recalculate our historical metrics may be impacted by data limitations or other factors that require us to apply different methodologies for such adjustments. We generally do not intend to update previously disclosed metrics for any such inaccuracies or adjustments that are deemed not material. (Unlevered) Free cash flow: Free cash flow is defined as cash flows from operating activities less purchases of property and equipment. Unlevered free cash flow excludes cash interest expense payments, net of payments received through interest rate swap hedges. Free cash flow is not a measure of financial condition under GAAP and does not reflect our future contractual commitments and the total increase or decrease of our cash balance for a given period, and thus should not be considered as an alternative to cash flows from operating activities or as a measure of liquidity. Explanation of Non-GAAP Measures and Other Items 39Copyright © 2026 Gen Digital Inc. All rights reserved.
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