Slides
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Q2 FY27 Earnings October 28, 2026
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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), Q3 FY2027 and Fiscal Year 2027 Non-GAAP guidance, FY2027 key assumptions, and go-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 than anticipated 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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4Copyright © 2026 Gen Digital Inc. All rights reserved. Q2 FY27 Revenue Q2 FY27 Non-GAAP EPS Paid Customers Free Cash Flow (LTM) $1.4B $0.74 83M $1.8B up YoY12% up YoY19% up YoY6M up YoY36% Another quarter of double-digit growth Note: All numbers presented are non-GAAP unless otherwise indicated. See the appendix for reconciliation of financial measures from GAAP to non-GAAP
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Revenue of $1.37B, up 12% beating the high-end of our guidance and continuing the strong momentum across our major categories Cyber Safety revenue increased 5% and Trust-Based Solutions grew 26%, both in line with our mid-term growth targets, while delivering on their respective margin targets of 60%+ and 30% Operating income reached $686M, up 10% as we delivered double-digit top-line growth, while we invested in strategic key growth initiatives and product expansions We returned $247M to shareholders in Q2 and $1.1B over the past 12 months, while lowering net leverage below 2.9x Non-GAAP EPS grew 19% as strong top-line growth, efficiency gains and disciplined capital allocations drove earnings leverage Key Financial Highlights Q2 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.
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What’s New 6Copyright © 2026 Gen Digital Inc. All rights reserved.
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Culture of innovation: Award-winning solutions and world-class service 7Copyright © 2026 Gen Digital Inc. All rights reserved.
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Protection and Empowerment in the AI Era Safe AI built into Norton 360 keeps the AI tools and assistants on your device from being tricked or doing something harmful behind your back ✓ Action Shield - protects against unwanted AI actions ✓ Safe Links - spots risky links before you click ✓ Gives people more control over AI file access AI Data Checker helps people better understand how AI apps and agents collect and use your personal data Norton Money employee benefits financial wellness offering, built on the foundation of Cyber Safety and Identity protection Copyright © 2026 Gen Digital Inc. All rights reserved. 8
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5.02 5.02 Avast Study Reveals AI Confidence Trap Avast 2026 Safe Tech Report: • 52% of adults globally have shared or considered sharing at least one sensitive item with an AI tool • 39% fulfill a request for personal data to “verify” ID • 42% accept an offer that looks “too good” • 37% gives in to the pressure to “act fast” Recent feature additions: ✓ Premium VPN ✓ Secure Identity ✓ Privacy control Copyright © 2026 Gen Digital Inc. All rights reserved. 9
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Further Expanding Digital Protection New LifeLock product offerings strengthen protection and transform product experience, while driving deeper user engagement. Recent and upcoming feature additions: Copyright © 2026 Gen Digital Inc. All rights reserved. 10 ✓ Real-time scam verification ✓ Scam reimbursement ✓ Enhanced anomaly detection ✓ Estate planning (coming soon) ✓ AI alert resolution (coming soon) Copyright © 2026 Gen Digital Inc. All rights reserved. 10 10Copyright © 2026 Gen Digital Inc. All rights reserved.
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Extending Financial Solutions MoneyLion continues to solve volatile and uneven consumer cash flows with innovative offerings. MoneyLion Save offers a premium savings account for MoneyLion One members Cashflow assistant leverages cash flow intelligence to offer a forward-looking view of what you can safely spend Rent split (in select markets) will bridge the gap between timing of your rent payment and paychecks Copyright © 2026 Gen Digital Inc. All rights reserved. 11 11Copyright © 2026 Gen Digital Inc. All rights reserved.
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Copyright © 2026 Gen Digital Inc. All rights reserved. 12 Extending the Depth of our Engine Network ✓ Personal Loans ✓ Line of Credit ✓ Debt Relief ✓ Credit Builder ✓ Earn Income ✓ Credit Cards ✓ Auto Insurance ✓ Installment Loans ✓ Earned Wage Access ✓ Home Equity Line of Credit What’s New: Engine’s marketplace launches first-ever insurance shopping website designed specifically for AI agents Helps shoppers compare insurance while keeping sensitive personal information protected and maintaining the licensed expertise insurance requires Copyright © 2026 Gen Digital Inc. All rights reserved. 12
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Many Front Doors. One Platform. Connected Intelligence. Integrated Capabilities. Protect Restore Connect Detect Genie Your security agent Promote Assist Recommend Offer Match One Common Platform. Secure, Personalized, Agentic. Alert 13Copyright © 2026 Gen Digital Inc. All rights reserved.
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14Copyright © 2026 Gen Digital Inc. All rights reserved. Q2 FY27 Results
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• 6th consecutive quarter of double-digit Bookings growth from strong execution and market demand • Durable operating margins at 50%, with 62% margin in Cyber Safety Platform and 30% in Trust-Based Solutions • 12th consecutive quarter of double-digit EPS growth, driven by profitable growth and consistent shareholder returns Q2 FY27 Non-GAAP Financial Highlights $1.22B $1. 35B Q2 FY26 Q2 FY27 $1. 22 B $1. 37 B Q2 FY26 Q2 FY27 $623M $686M Q2 FY26 Q2 FY27 $0.62 $0. 74 Q2 FY26 Q2 FY27 Revenue +12% Y/Y Bookings +10% Y/Y Operating Income +10% Y/Y EPS +19% Y/Y OM 50% OM 51% 15Copyright © 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
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Double Digit Performance Q2 Revenue of $1.37B, up 12% Y/Y • Leader in Cyber Safety memberships, now enhanced with multi-layered agentic security and scam protection • Engine growth accelerating through new verticals, expanded partnerships, and stronger cross-sells Q2 Operating Income of $686M, up 10% Y/Y • 50% Operating Margin, in line with expectations • Cyber Safety 62% margin, durable and scalable foundation • Trust-Based Solutions 30% margin, profitable growth • Y/Y driven by segment mix, expansion within categories Q2 EPS of $0.74, up 19% Y/Y • Effective capital deployment with share count down (3%) Y/Y • 12th consecutive quarter of double-digit EPS growth Non-GAAP P&L ($mil), except per share amounts Q2 FY26 Q2 FY27 Y/Y % Revenue $1,220 $1,369 12% Gross Profit 1,021 1,101 8% Gross Margin 84% 80% (3 pts) Operating Expenses $398 $415 4% % of Revenue 33% 30% (2 pts) Operating Income $623 $686 10% Operating Margin 51% 50% (1 pt) Other Inc / (Expense) (127) (116) NM Effective Tax Rate 22% 22% -- Net Income $387 $444 15% EPS $0.62 $0.74 19% Diluted Share Count 624 603 (3%) 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.
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Q2 FY26 Q2 FY27 Y/Y % Revenue $814 $858 5% Op. Income $500 $534 7% Op. Margin 61% 62% 1 pt Durable growth with record high margins of 62% • Q2 Revenue up 5% Y/Y and Bookings up 4% Y/Y (CC), supported by strong renewals, cross-sells and upsells in Norton • New Norton 360 experience drove greater user engagement across multiple touchpoints • Operating margin of 62%, led by strong incremental margins that will support continued investments across marketing and product innovations Segment Performance ($ in millions, unless otherwise indicated) Cyber Safety Platform includes our security, cyber safety suites, and privacy business lines Cyber Safety Platform 17Copyright © 2026 Gen Digital Inc. All rights reserved.Note: All numbers presented are non-GAAP unless otherwise indicated.
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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 Financial Wellness driving strong double-digit growth, supported by trusted Identity solutions • Q2 Revenue up 26% Y/Y and Bookings up 24% Y/Y • Enhanced LifeLock brand and experience delivering improved conversion and upsell rate • Financial Wellness momentum remained strong, with record originations and diverse offerings to support consumers’ cash flow needs • Operating margin remained robust at 30% as we delivered topline growth with improving efficiencies Q2 FY26 Q2 FY27 Y/Y % Revenue $406 $511 26% Op. Income $123 $152 24% Op. Margin 30% 30% -- 18Copyright © 2026 Gen Digital Inc. All rights reserved.Note: All numbers presented are non-GAAP unless otherwise indicated.
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• Direct revenue growth of 6% • Consistent Cyber Safety growth, driven by continued all-in-one membership adoption • Robust personal financial management growth • Partner revenue growth of 40% • Diversified Engine marketplace delivering multiple financial solutions to consumers • Cyber Safety growth is strong with EB and telcos • Paid customers: • Scaled to 83M, continued subscriber growth with accelerated marketplace expansion, vs. 81M prior quarter; 77M prior year Q2 FY26 Q2 FY27 Y/Y % Direct $1,010 $1,074 6% + Partner $210 $295 40% = Revenue $1,220 $1,369 12% Paid Customers 77M 83M 6M Performance Metrics Revenue by Channel, Paid Customers ($ in millions, unless otherwise indicated) 19Copyright © 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. 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 $320M+ • $1.7B capital deployed (LTM) towards share buyback, debt paydown, and dividends • $1.8B remaining in share buyback authorization • Liquidity of $2.1B • $0.6B cash + $1.5B revolver undrawn • Debt / EBITDA (1) Net Leverage <2.9x • Strong profit growth and disciplined cash deployment drove further deleveraging • Operating well below 3.0x net leverage target Key Balance Sheet, Cash Flow Metrics ($ millions) Q2 FY26 Q1 FY27 Q2 FY27 Balance Sheet Cash, cash equivalents and restricted cash $701 $564 $589 Contract Liabilities $1,862 $1,919 $1,899 Debt (Principal) $8,794 $8,230 $8,185 Cash Flow Cash Flow from Operations $116 $434 $326 Capital Expenditures $9 $4 $3 Free Cash Flow $107 $430 $323 Capital Allocation Dividends + Equivalents (Qtrly $0.125 per common share) $77 $81 $76 Debt Paydown $169 $45 $45 Share Repurchase -- $100 $171 Balance Sheet & Cash Flow 20Copyright © 2026 Gen Digital Inc. All rights reserved.
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Raised FY27 Non-GAAP Guidance Note: All numbers presented are non-GAAP unless otherwise indicated ● Guidance in USD assumes ending Q2 FY27 foreign exchange rates ● Assumes non-GAAP effective tax rate of ~22% and current SOFR curves ● We are not providing GAAP EPS guidance because most non-GAAP adjustments pertain to events that have not yet occurred andwould be unreasonably burdensome to forecast $5.465 - $5.515B Revenue 10 - 11% Y/Y $2.93 - $2.98 EPS 16 - 18% Y/Y FY27 $1.365 - $1.39B Revenue 10 - 12% Y/Y $0.73 - $0.75 EPS 15 - 18% Y/Y Q3 FY27 FY27 Key Assumptions: • Revenue up 10 - 11% Y/Y adjusted (raised from 9 - 11% Y/Y adjusted) • EPS up 16 - 18% Y/Y adjusted (raised from 14 - 18% Y/Y adjusted) • Segment margins stable: Cyber Safety 60%+ Trust-Based Solutions 30% • Net of investments in Gen platform and AI capabilities • Excess Free Cash Flow returned to shareholdersFY27 adjusted growth calculated excluding the extra fiscal week in Q1 FY26 and including MoneyLion stub financials in the prior year comparison 21Copyright © 2026 Gen Digital Inc. All rights reserved.
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Supplemental Information 22Copyright © 2026 Gen Digital Inc. All rights reserved.
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Trended Non-GAAP Segment Financials and Performance Metrics ($Ms) Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY26 Q1 FY27 Q2 FY27 Cyber Safety Platform: Segment Revenue $869 $814 $819 $837 $3,339 $846 $858 Operating Income $530 $500 $503 $508 $2,041 $519 $534 Operating Margin 61% 61% 61% 61% 61% 61% 62% Trust-Based Solutions: Segment Revenue $388 $406 $421 $446 $1,661 $490 $511 Operating Income $120 $123 $126 $133 $502 $149 $152 Operating Margin 31% 30% 30% 30% 30% 30% 30% Other Performance Metrics Direct Revenue $1,054 $1,010 $1,025 $1,048 $4,137 $1,063 $1,074 Partner Revenue $203 $210 $215 $235 $863 $273 $295 Bookings $1,202 $1,222 $1,319 $1,364 $5,107 $1,284 $1,347 Paid Customers (Ms) 76 77 78 79 79 81 83 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 37 for definitions of our metrics. 23Copyright © 2026 Gen Digital Inc. All rights reserved.
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Capital Structure Debt Maturities in $Ms (Initial Principal Amounts) As of October 2, 2026 Facility Principal ($M) Maturity Coupon Revolver (RCF): undrawn $1,500 FY31 If drawn: SOFR+1.375% Term Loan A (TLA) $2,672 FY31 SOFR+1.375% Term Loan B (TLB) $2,322 FY30 SOFR+1.75% Term Loan B (TLB) $741 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 ~5.8% • ~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 10/02/2026, 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. UnsecuredNotes at pre-specified redemption prices beginningSeptember 30, 2024, September 30, 2025, and April 01, 2028. • The TLA and RCF mature in FY31, subject to a springing maturity 91 days prior to the applicable 2027 SUN, FY30TLB or 2030 SUN maturity, absent satisfaction of the minimum liquidity test Note: Graph not to scale. FY27 FY28 FY29 FY30 FY31 FY32 FY33 2033 SUN $950 Revolver (undrawn) $1,500 2027 SUN $900 TLA $2,672 TLB $2,322 TLA $3,568 2030 SUN $600 TLB $741 24Copyright © 2026 Gen Digital Inc. All rights reserved.
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Note: Our first quarter of FY26 consisted of a 14 week period, compared to our first quarter in FY27, which consisted of a 13 week period. Adjusted growth calculated excluding the extra fiscal week in Q1 FY26 and including MoneyLion financials in the prior year comparison. For details on adjusted growth rates, refer to slides 30 and 31 for the reconciliation of the comparative period amounts. Trended Non-GAAP Quarterly Results Non-GAAP P&L ($M), except per share amounts Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY26 Q1 FY27 Q2 FY27 Cyber Safety Platform 869 814 819 837 3,339 846 858 Trust-Based Solutions 388 406 421 446 1,661 490 511 TOTAL REVENUE $1,257 $1,220 $1,240 $1,283 $5,000 $1,336 $1,369 Y/Y % 30% 25% 26% 27% 27% 6% 12% Y/Y % (Adjusted) 10% 10% 8% 9% 9% 11% 12% Gross profit $1,057 $1,021 $1,035 $1,068 $4,181 $1,093 $1,101 Gross margin 84.1% 83.7% 83.5% 83.2% 83.6% 81.8% 80.4% • Sales and marketing 270 278 286 305 1,139 284 283 • Research and development 95 87 83 89 354 105 96 • General and administrative 42 33 37 33 145 36 36 Operating expenses 407 398 406 427 1,638 425 415 % of revenue 32.4% 32.6% 32.7% 33.3% 32.8% 31.8% 30.3% Operating income $650 $623 $629 $641 $2,543 $668 $686 Operating margin 51.7% 51.1% 50.7% 50.0% 50.9% 50.0% 50.1% • Interest expense (149) (139) (131) (122) (541) (119) (118) • Other income / (expense), net 9 12 8 4 33 4 2 Income before income taxes $510 $496 $506 $523 $2,035 $553 $570 • Provision for income tax 112 109 112 115 448 122 126 Net income $398 $387 $394 $408 $1,587 $431 $444 EPS $0.64 $0.62 $0.64 $0.67 $2.56 $0.71 $0.74 • Diluted share count 624 624 618 609 619 603 603 • Depreciation 4 4 4 4 16 4 4 Reported EBITDA $654 $627 $633 $645 $2,559 $672 $690 25Copyright © 2026 Gen Digital Inc. All rights reserved.
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Note: Our first quarter of FY26 consisted of a 14 week period, compared to our first quarter in FY27, which consisted of a 13week period. Reconciliation to Non-GAAP Gross Profit GAAP to Non-GAAP Gross Profit ($M) Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY26 Q1 FY27 Q2 FY27 GAAP Results of Operation Gross profit (GAAP) $990 $954 $972 $1,007 $3,923 $1,029 $1,039 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 62 TOTAL GROSS PROFIT ADJUSTMENT 67 67 63 61 258 64 62 Non-GAAP Results of Operation Net revenues 1,257 1,220 1,240 1,283 5,000 1,336 1,369 Cost of revenues 200 199 205 215 819 243 268 GROSS PROFIT (NON-GAAP) $1,057 $1,021 $1,035 $1,068 $4,181 $1,093 $1,101 26Copyright © 2026 Gen Digital Inc. All rights reserved.
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Note: Our first quarter of FY26 consisted of a 14 week period, compared to our first quarter in FY27, which consisted of a 13week period. Reconciliation to Non-GAAP Operating Income GAAP to Non-GAAP Operating Income ($M) Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY26 Q1 FY27 Q2 FY27 GAAP Results of Operation Operating income (GAAP) $446 $438 $433 $803 $2,120 $443 $507 Total Non-GAAP gross profit adjustment 67 67 63 61 258 64 62 Non-GAAP Operating Expense Adjustments Stock-based compensation 64 54 56 62 236 49 56 Amortization of intangible assets 54 55 55 54 218 56 56 Restructuring and other costs 10 4 11 10 35 32 — Acquisition and integration costs 5 2 2 3 12 1 3 Litigation costs 5 2 10 (353) (336) 23 2 Other (1) 1 (1) 1 — — — TOTAL OPERATING EXPENSE ADJUSTMENT 137 118 133 (223) 165 161 117 Non-GAAP Results of Operation Gross profit 1,057 1,021 1,035 1,068 4,181 1,093 1,101 • Sales and marketing 270 278 286 305 1,139 284 283 • Research and development 95 87 83 89 354 105 96 • General and administrative 42 33 37 33 145 36 36 Total operating expenses 407 398 406 427 1,638 425 415 Operating income (Non-GAAP) $650 $623 $629 $641 $2,543 $668 $686 27Copyright © 2026 Gen Digital Inc. All rights reserved.
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Note: Our first quarter of FY26 consisted of a 14 week period, compared to our first quarter in FY27, which consisted of a 13week period. Reconciliation to Non-GAAP Net Income 28Copyright © 2026 Gen Digital Inc. All rights reserved. GAAP to Non-GAAP Net Income ($M) Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY26 Q1 FY27 Q2 FY27 GAAP Results of Operation Net income (GAAP) $135 $134 $192 $512 $973 $215 $287 Total Non-GAAP gross profit adjustment 67 67 63 61 258 64 62 Total Non-GAAP operating expense adjustment 137 118 133 (223) 165 161 117 Non-GAAP Other Non-Operating Expense (Income) Adj Non-cash interest expense 7 7 6 8 28 5 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) 524 230 184 Income tax effect of non-GAAP adjustments 53 (10) 5 42 90 (14) (27) Total net income adjustment 263 253 202 (104) 614 216 157 Non-GAAP Results of Operation Operating income 650 623 629 641 2,543 668 686 Interest expense (149) (139) (131) (122) (541) (119) (118) Other income (expense), net 9 12 8 4 33 4 2 Income before income taxes 510 496 506 523 2,035 553 570 Provision for income taxes 112 109 112 115 448 122 126 Net income (Non-GAAP) $398 $387 $394 $408 $1,587 $431 $444
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(1) Total may not add due to rounding. (2) Other includes non-cash interest expense, loss (gain) on extinguishment of debt, and other minor reconciling items. Reconciliation to Non-GAAP EPS and Net Income 29Copyright © 2026 Gen Digital Inc. All rights reserved. GAAP to Non-GAAP EPS and Net Income (1) ($M), except per share amounts Q2FY27 EPS Net Income GAAP EPS / Net Income $0.48 $287 • Stock based compensation 0.09 56 • Amortization of intangible assets 0.20 118 • Acquisition and integration costs 0.00 3 • Litigation costs 0.00 2 • Other (2) 0.01 5 • Adjustment to GAAP provision for income taxes (0.04) (27) Total adjustments 0.26 157 Non-GAAP EPS / Net Income $0.74 $444
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Adjusted Revenues ($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 $4,529 Reconciliation to Historical Comparative Non-GAAP Adjusted Revenue Copyright © 2026 Gen Digital Inc. All rights reserved. 30
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31Copyright © 2026 Gen Digital Inc. All rights reserved. Reconciliation to Q1 FY26 Non-GAAP Adjusted Results Non-GAAP Adjusted P&L ($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 $1,336 11%
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Note: Our first quarter of FY26 consisted of a 14 week period, compared to our first quarter in FY27, which consisted of a 13week period. Note: Semi-annual SUN interest payments due end of month in March and September, year -over-year compares impacted by fiscal calendar timing. Both calendar year 2025 interest payments were recorded in Q1 and Q2 FY26 Reconciliation to Non-GAAP (Unlevered) Free Cash Flow Unlevered Free Cash Flow Reconciliation ($M) Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY26 Q1 FY27 Q2 FY27 Net Cash Flow from Operating Activities $409 $116 $541 $479 $1,545 $434 $326 Adjustments: • Capital Expenditures (4) (9) (6) (3) (22) (4) (3) Free Cash Flow $405 $107 $535 $476 $1,523 $430 $323 Adjustments: • Cash paid for interest expense, net of interest rate hedges 181 187 92 161 621 79 160 Unlevered Free Cash Flow $586 $294 $627 $637 $2,144 $509 $483 32Copyright © 2026 Gen Digital Inc. All rights reserved.
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Revenue by Geo ($M) Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY26 Q1 FY27 Q2 FY27 US 819 809 824 857 3,309 907 931 Rest of Americas 60 55 56 53 224 54 54 Americas 879 864 880 910 3,533 961 985 EMEA 268 257 263 273 1,061 274 280 APJ 110 99 97 100 406 101 104 Total Revenue $1,257 $1,220 $1,240 $1,283 $5,000 $1,336 $1,369 Note: Our first quarter of FY26 consisted of a 14 week period, compared to our first quarter in FY27, which consisted of a 13week period. Trended GAAP Revenue by Geo 33Copyright © 2026 Gen Digital Inc. All rights reserved.
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(1) Total may not add due to rounding. (2) Other non-operating expense, net is equal to total non-operating expense, net excluding net interest expense and other minor reconciling items. Note: Our first quarter of FY26 consisted of a 14 week period, compared to our first quarter in FY27, which consisted of a 13 week period. Trended EBITDA (Non-GAAP) Reported EBITDA (Non-GAAP)(1) ($M) Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY26 Q1 FY27 Q2 FY27 Net income $135 $134 $192 $512 $973 $215 $287 Adjustments: • Net interest expense 147 140 132 125 544 121 119 • Income tax expense (benefit) 165 99 117 157 538 108 99 • Depreciation and amortization 123 125 126 119 493 123 122 EBITDA (Non-GAAP) 570 498 567 913 2,548 567 627 Adjustments to EBITDA: • Stock-based compensation 66 55 52 62 235 50 56 • Restructuring and other costs 10 4 11 10 35 32 — • Acquisition and integration costs 5 2 2 3 12 1 3 • Litigation costs 5 2 10 (353) (336) 23 2 • 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) 2 Reported EBITDA (Non-GAAP) $654 $627 $633 $645 $2,559 $672 $690 34Copyright © 2026 Gen Digital Inc. All rights reserved.
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(1) Total may not add due to rounding. (2) Other non-operating expense, net is equal to total non-operating expense, net excluding net interest expense and other minor reconciling items. (3) Includes Adjusted financial wellness EBITDA not included in the Company's financial results. (4) LTM denotes results for the last twelve fiscal month period. Debt Covenant EBITDA (Non-GAAP) Debt Covenant EBITDA (Non-GAAP) (1)($M) LTM (4) Net income $1,206 Adjustments: • Net interest expense 497 • Income tax expense (benefit) 481 • Depreciation and amortization 490 EBITDA (Non-GAAP) $2,674 Adjustments to EBITDA: • Stock-based compensation 220 • Restructuring and other costs 53 • Acquisition and integration costs 9 • Litigation costs (318) • Loss (gain) on extinguishment of debt 9 • Change in fair value and impairment of non-marketable equity investments 10 • Loss (gain) on sale of properties and nonfinancial assets (16) • Other non-operating expense (income), net (2) (1) Reported EBITDA (Non-GAAP) $2,640 Adjustments to Reported EBITDA: • Other non-operating expense (income), net (2) 1 • Other covenant adjustments (3) 9 Consolidated Debt Covenant EBITDA (Non-GAAP) $2,650 35Copyright © 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, whichare adjusted from results based on GAAP and exclude certain expenses, gains and losses. We also provide the non-GAAP metrics of revenues, EBITDA, 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, less purchases of property and equipment. These non-GAAP financial measures are provided to enhance the user's understanding of our past financialperformance and our prospects for the future, and to provide more meaningful comparisons of our current results to our historical performance 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 accordingto 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 presented 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, which is attached to our quarterly earnings release, and which can be found, along with other financial information including the Earnings 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 beunreasonably burdensome to forecast, therefore we are unable to provide an accurate estimate. Use of GAAP and Non-GAAP financial information 36Copyright © 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 37Copyright © 2026 Gen Digital Inc. All rights reserved.
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Web: Investor.GenDigital.com | Email: IR@GenDigital.com