Disclaimer

Any remarks that we may make about future expectations, plans and prospects for the company constitute

forward-looking statements. Actual results may differ materially from those indicated by these forward-looking

statements as a result of various factors.

In particular, the forward-looking financial information provided by the company in the conference event (Capital

Markets Day) represent the company’s estimates as of 15 February 2022. We anticipate that subsequent events

and developments will cause the company’s estimates to change.

However, while the company may elect to update this forward-looking financial information at some point in the

future, the company specifically disclaims any obligation to do so. This forward-looking information should not be

relied upon as representing the company’s estimates of its future financial performance as of any date

subsequent to 15 February 2022.

2
 Non-IFRS Information

Readers are cautioned that the supplemental non-IFRS information presented in this presentation is subject to inherent limitations. It is not based

on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the

Company’s supplemental non-IFRS financial information may not be comparable to similarly titled non-IFRS measures used by other companies.

In the tables accompanying this presentation the Company sets forth its supplemental non-IFRS figures for revenue, operating costs, EBIT,

EBITDA, net earnings and earnings per share, which exclude the effect of adjusting the carrying value of acquired companies’ deferred

revenue, the amortization of acquired intangibles, discontinued activities, acquisition related charges, restructuring costs, share-based

payments and the income tax effect of the non-IFRS adjustments. The tables also set forth the most comparable IFRS financial measure and

reconciliations of this information with non-IFRS information.

When the Company believes it would be helpful for understanding trends in its business, the Company provides percentage increases or

decreases in its revenue (in both IFRS as well as non-IFRS) to eliminate the effect of changes in currency values. When trend information is

expressed herein "in constant currencies", the results of the "prior" period have first been recalculated using the average exchange rates of the

comparable period in the current year, and then compared with the results of the comparable period in the current year.

3
 Strategy and Vision

Max Chuard
CEO
Business overview
Temenos: Everyone’s banking platform

1.2 billion Banks that use Our 3000 banks

individuals, Temenos are include 41 of the top
families, businesses industry leaders 50 global banks, 70+
rely on Temenos challengers

That’s 30% of the Achieving They rely on the

world’s banking return on equity World’s #1 open
population 3X the industry platform for
average banking

6
 Relentless Focus on Innovation

Sustained
$ 2.5B high level of
R&D $ 1.0B
Investment
cumulative R&D R&D investment
investment 1990-2021 2022-25
We invest 20% of revenues in R&D…highest in the industry

2011 2020 2022

Temenos Cloud Cloud Native Temenos Banking Cloud Next…

(Virtual machines, Core (Containers & serverless, multi- (Continuous updates, composable (XAI Ops, Specialist Micro-clouds,
Banking, Managed Service, product, continuous operations, banking, enterprise banking Hyperplexed architecture,
etc.) cloud agnostic, etc.) services, self-service, sandbox, etc.) Quantum computing, AR + VR,
Edge Computing / IOT, etc.)

7
Market opportunity
 Disruptive technologies key to the future of banking…

2022 - 2025

AI/Machine Blockchain/
Cloud/SaaS API/Microservices DevOps Big Data
Learning Distributed DB

Banking

2025 - 2030

Quantum Augmented/ Internet

5G Biometrics Wearables
Computing Virtual Reality of Things

9
 …leading to unbundling of the banking value chain,
which has fundamentally changed our market
Distribution Manufacturing

Product
Sales & Marketing Servicing Operations
Management

Banks – Tier 1,2,3+ Credit unions & Specialty Finance Micro finance Bank owned
Incumbents
community banks Challenger banks

Non- Not bank owned Pureplay BaaS BaaS brands Platform players
Fintechs
incumbents Challenger Banks providers excluding platforms (including Payment
disruptors)

Market opportunity growing and rebalancing between incumbents and non-incumbents

10
 Sizeable and fast-growing addressable market

USD 64bn

USD 26bn USD 26bn USD 26bn

USD 18bn 18%

USD 18bn USD 18bn
70% 9%

82%
84% 91%
30%
16%
Total Addressable Market Third party software Third party software Third party software Third party software Third party software Third party software
spend spend spend spend spend spend
2021 2025E 2021 2025E 2021 2025E

Core banking Digital Front Office On premise market SaaS market Incumbents Non incumbents
Payments Fund admin
CAGR 2021-25 5% 28% CAGR 2021-25 7% 29%

Source: IDC, Ovum, Celent, McKinsey, Temenos estimates 11

From our market leading position at traditional banks, we have
successfully penetrated the non-incumbent market

Traditional banks Non-incumbents

(Digital transformation from legacy to modern) (Rapid scaling of greenfield business)

Global multi-country client Single country client

Flowe

12
Varo: Growth and path to profitability on The
Temenos Banking Cloud
First and only consumer fintech with a national bank charter in the US
Background

 Customer-centric strategy to deliver a real-time, omni-channel customer experience
& Context

+ Why 

Continued R&D investment to support current product set and long-term growth
U.S. model bank
Temenos
 Rapid speed-to-market for new products and services

= Outcomes
 Varo reached four million accounts in the 13 months since obtaining its bank charter


Doubled accounts and tripled revenues in the last 12 months
Among top 5 highest growth companies in California
 Estimated cost to service a customer is only 25% vs a traditional bank
 Won Celent Model Bank of the Year Award for 2021, Forbes Fintech 50, etc.

“The Temenos Banking Cloud enables Varo to scale based on customer demands, deploy new products, and
substantially drive down operational costs. The functionality of the Temenos core banking platform allows Varo to
circumvent the use of multiple third-party providers for payments and processing and accelerates time to market.”
- Colin Walsh, CEO & Founder 13
Openbank: Successful greenfield implementation of a
scalable platform for international expansion
Largest full-service digital bank in Europe, with 1.6 million customers
Background

 Considered the flagship digital offering of the Santander Group
& Context
 Multi-country project

By
 Open, API driven cloud-native platform, with continuous deployment to support innovation
Why  Proven implementations across multiple business segments and geographies in parallel

Temenos  Scalability (multi-million customers)

 Operating on AWS leveraging Temenos' multi-cloud capabilities

 Currently live on our platform, with standardized global IT and operating model

Outcomes  Successfully scaled to handle multi-million customers from multiple thousands initially

 Increased speed-to-market – launch products 10x faster

“With Temenos software, we have leveraged new technologies such as artificial intelligence and machine learning
to help retail and mass affluent customers save and invest automatically based on their life goals, or get a mortgage
in 7 days from the web or their app to buy the house of their dreams.”
- Ezequiel Szafir, CEO 14
Source: Santander
15
 Client credentials

Dan Henry
President and CEO
 Continued market leadership

Best-In-Class for Aite Matrix: Leader in Omdia Universe Leader in Forrester Waves for #1 Digital banking and
Digital Banking US Digital Banking Solutions of
Core Providers Matrix
for Digital Banking
Platforms 2020-21
Digital Banking Engagement
Platforms & Digital Banking
channels in IBS Sales League
Table 2021
Engagement Hubs

Core Banking Leader in Gartner Magic Leader in Forrester Waves for #1 Core Banking System in IBS Sales
Quadrant for Global Retail Digital Banking Processing League Table 2021#1 for Neo
Core Banking Platforms – Retail & Corporate Banks & Challenger Banks

Payments Leader in IDC MarketScape for #1 Retail payments system in IBS

Integrated Payment Platforms Sales League Table 2021

Funds Best-In-Class for Aite Matrix: Achieved ‘Differentiated’

Investment & Fund Accounting Status in Adox 8*8 for Portfolio
Systems Management & Accounting Solutions

17
Our composable banking platform
Open composable banking platform for continuous
innovation
EXPLORE DEVELOP DEPLOY & TEST COLLABORATE & SELL
API Catalogue Base Camp Sandbox Environment Temenos Exchange

Temenos Open Platform for Composable Banking

TEMENOS COMPOSED BANKING SERVICES TEMENOS ENTERPRISE SERVICES

precomposed services based on capabilities end-to-end solutions for banking segments

TEMENOS BANKING CAPABILITIES

grouped by domains

Customer Risk & Data &

Channels Products Operations Business Support XAI Localization
Engagement Compliance Analytics

Cloud Client Installation on Client installation

public or private cloud on-premise

TEMENOS manages the software BANK manages the software

…driven by the highest R&D investment in the industry- 20% of revenue

19
Key differentiators of the platform

Pre-built Banking Broadest set of Localization through

Services banking capabilities Country Model Banks
in the market

Scales with Continually Updated Extensible with Banking

business growth solutions Capabilities from Temenos
and Exchange

20
 Single code and configuration base drives higher
margin, competitive edge and profitable growth

Retail SME Corp. Wealth

Segment agnostic

Higher margin

Total Assets

Traditional Non-
incumbent Tier 1 Tier 2 Tier 3+

Type agnostic Single code and Size agnostic Competitive advantage

configuration base

Temenos Client Profitable growth

runs runs
Deployment agnostic Location agnostic 21
Why we outsell the competition

Traditional vendors Neo vendors

Cross-industry, not packaged nor New digital entrants, cloud-native
cloud native nor SaaS ready offering, but limited functional scope

Why we win Why we win

100% Banking focused Depth and breadth of
functionality
Market leadership, including
non-incumbents Out-of-the-box Localization

Proven SaaS delivery Proven scalability

Highest R&D in the industry Proven migration credentials

in every segment and tier
Future proof technology
Highest levels of security and
compliance

22
 Vendor of choice for core and digital banking globally

IBS Sales League Table 2021: Global new named deals 20201 0.0 x Temenos deals multiple vs competitor

Core Banking Digital Banking & Channels

50 120

40 100

80
30
2.3x 2.7x 3.0x 3.7x 5.3x 8.0x 3.9x 4.1x 5.0x 15.1x 17.7x 21.2x
60
20
40
10 20

0 0

Capital Banking
Solutions

Outselling top global core banking competitors by a factor of ~4x, and global digital banking
competitors by a factor of ~7x on average1
1. As per IBS methodology, domestic deals of the US, India, UK, and Russia are excluded from Global Sales League Tables
Source: IBS Global Sales League Tables 2021 23
Subscription pricing model
 Move to subscription captures greater value and
accelerates our growth
Significant acceleration in Annual Recurring Revenue
ARR forecast to grow 20-25% CAGR 2021-2025
Clients across all tiers and business models are
ARR % of Total Revenue
increasingly asking for subscription contracts c.USD1.3bn

rather than traditional upfront license

85%+
80%

70%
USD553m 64% 65%
62% 63%
60%
57% 57%
Temenos will sell five year subscription contracts
for on-premise license and maintenance as
standard from 2022, including for renewals
2021 2022E 2023E 2024E 2025E

Subscription license model Term & Perpetual license model

Growth in subscription and SaaS will drive recurring revenue;

Subscription model accelerates shift to more predictable financial performance
25
 Value creation will drive acceleration in Total
Software licensing and EBIT
>19% >15%
Total Software Licensing 22-25 CAGR Non IFRS EBIT 22-25 CAGR

10%*

17%*
10%
17%

357
323
414
356

2020 2021 2022E 2025E

2020 2021 2022E 2025E

Note: Numbers are non-IFRS. 2020 and 2021 at constant currency

* Mid-point 2022 guidance
26
Tangible benefits to clients and Temenos

Benefits to client Benefits to Temenos

Enhanced value proposition for customers Greater upsell opportunity

significantly expanding flexibility
Better customer retention

Lower upfront cost, reflecting a shift to OPEX

Significantly expanding long-term value
from CAPEX and the time value of money
creation potential through incremental
growth, higher margins and cash flows
Easier to scale with demand
Accelerate the shift to more predictable
financial performance driven by a much
Flexible maintenance options higher proportion of recurring revenues

Increase total contract values

Easier path to SaaS

27
Key strategic initiatives
 Key strategic initiatives

North America Partner centric

focus approach

Increasing
Continued SaaS penetration in
acceleration Larger banks

29
Continued SaaS acceleration

Continued focus on profitable SaaS growth with

margin expansion
Sustained SaaS revenue growth Key levers for profitable growth
SaaS Revenue (USD M)
 Composable Banking
30%+ CAGR  Higher incremental revenue
 Self service portal
2021-2025  Lower time to value
 Click & go capability
Our platform  Higher NPS
+36%  Cloud native

96 124
67
 Deepening partnerships with
 Higher margin
Hyper-scaler committed volumes (AWS & Azure)
2019 2020 2021 2025E relationships

Sustained SaaS margin improvement  Focus on pre-assembly

 Improved productivity
SaaS margin (SaaS deployment readiness)
SaaS  Higher margin
 Further automation of SDLC and
operations  Improved NPS
delivery
13 ppts
80%+
57% 60%  Focus on mid-tier incumbents as
 Larger deal sizes
47%  Higher margin through
Our target they increasingly transition to SaaS
market larger volumes

2019 2020 2021 2025E

30
North America focus

Building momentum in North America

Significant increase in North America’s

contribution to our Software licensing Accelerating our North America growth

Total software licensing: North America vs. Rest of Maintain advantage in non-incumbents
World1
 Significant growth in pipeline
 Strong referenceable client base for Challenger banks
100%
Leverage platform, presence and strategic partnerships to
target Tier 1s
 Platform aligned to Tier 1 priorities: targeted transformation,
standardized global expansion and seamless post-merger integrations
 Credibility of delivering large transformation projects in the US with live
clients on US model bank
~3x 40-45%
33%
 Deepen relationships with top tier integration partners (E.g., IBM)
10%
2014 2021 2025E Shape and drive the BaaS and BNPL market
 Strategic partnership with Mbanq for Credit-Union-as-a-Service
North America Rest of World  Increased interest for our BNPL offering and expertise based on
success with global top 10 provider

1. Non-IFRS
31
North America focus

Commerce Bank: Successful Digital transformation in

the US market from legacy to Temenos Core Banking
Super community bank in the United States, 47th largest with $25 billion in assets
Background

 Core modernization project now live, moved its legacy platform for deposits to a modern,
& Context agile and open platform

Modern solution with real time features

Why 
 Highly configurable and flexible
Temenos

 Ability to service using US model bank

Increased operational efficiency
Outcomes 
 Enhanced ability to innovate and incorporate emerging technologies
 Improved speed to market

“Commerce is focused on staying at the forefront of technology to ensure the best service to our customers. We recognize
that a modern core banking platform is an accelerator for innovation and digital customer experiences. The Temenos
platform will enable Commerce to deliver innovative solutions for our customers today and well into the future.”
- David Roller, Chief Information Officer 32
Increasing penetration in Larger banks

Enhancing capabilities to serve Larger banks

Strong track record among Large banks Increasing penetration within larger banks

> 35% of Tier 1-2 banks,

 Targeted incremental transformations
including 41 of the top 50
 Standardized global expansion (reuse, localization)
global banks are Temenos Open composable
 Seamless post merger integrations
clients platform aligned to
large bank needs
Targeting 40-50% of
Total Software Licensing  Dedicated account management for selected
accounts globally
from Tier 1-2 banks
 Strengthening sales skills with ex-bankers, specialist
Newly setup function Enterprise Architects with large bank experience
to focus on large  Targeted Sales Plays and Marketing
Broadest range of banks
referenceable clients

 Deepening partnerships with Top tier

Partnerships with consulting firms
Strategic Advisors

33
Partner centric approach

Open platform powers network effects

Sales Partner led delivery model

Partners Extensibility framework & Open
APIs to help partners configure,
customize and extend Temenos
platform

Delivery
Partners Temenos SCALE program
Collaboration and co-
innovation with fintechs,
developers and experts
Solution
Providers
Partner Portal & Partner Academy
Training, communication and
enablement

Technology
Partners
Extend sales capability
Selling with and through partners

Strategic
Advisors
34
 ESG integral to our goal of achieving our vision and
delivering business value
Consistent overperformance in leading global benchmarks

(Top 1% of industry) Top 1%

ESG Mission:
Leadership Top 10% Included in Swiss Top performer AA rating
Sustainability 25 index in industry (top 20%)
 Help our clients transform into smart,
Ethical governance: committed to transparency & disclosure
inclusive and sustainable
organizations
 Manage our operations ethically
and sustainably
 Contribute to global social and (Operations & Product offering)

environmental initiatives (By end 2022)

35
TENACITY VELOCITY RESPONSIBILITY AUTHENTICITY COMMUNITY

36
 Accelerating growth trajectory

To grow ARR at a To grow Expanding

Total Software EBIT margin
CAGR of 20-25% Licensing
from 2021-25, revenue at a
to c.41%
by 2025
To reach c.USD1.3bn CAGR of
by 2025 (85%+ of total
revenues) 15-20%
from 2021-25

37
Note: Revenue, cost and profit numbers are non-IFRS
Thank You
 An Industry in Flux:
Banking Trends
2022

Kanika Hope
Chief Strategy Officer

39
 Disruptive technologies key to future of banking…
2021 - 2025

AI/Machine Blockchain/
Cloud/SaaS API/Microservices DevOps Big Data
Learning Distributed DB
65% think new
technologies will have the 86% believe DevOps
81% think unlocking value
methodologies and
biggest impact on from AI will be the
modern cloud-based
banking in next 5 years differentiator between winning
platforms will drive core
over changing customer and losing banks
banking transformation
demand and regulations

2025 - 2030

Quantum Augmented/ Internet

5G Biometrics Wearables
Computing Virtual Reality of Things
40
 …intensifying the pressures banks have always faced
Payment
Reliability & Trust specialists
Responsiveness & Convenience
“Tech-fin” - Technology giant +
Hyper-personalization & Holistic Ecommerce platforms
experience
Fintech - start-ups, neo-banks,
Access or financial inclusion BaaS providers

Demanding Customers Rise of New Competitors

BANKS
Open Banking COVID-19
& PSD2 impact
Instant payments Market & geopolitical volatility
Central Bank Digital Currencies (CBDC)
Economic slowdown and low profitability
Cybersecurity & resilience
Basel, IFRS, SOX, Dodd Frank Increased cyber crime

Regulation and Market Practice Tough Market Conditions

41
 The unbundling of the banking value chain
Distribution Manufacturing

Sales & Product

Servicing Operations
Marketing Management
Digital banking Mobile Wallets & Remittances Open Banking and BaaS

Credit score and analytics

Real estate and mortgages
POS and consumer lending

Personal Finance Retail investing

Crypto

Payments processing and networks

Payroll & benefits
Regulatory compliance
General Lending & Finance

“Banks are playing an increasingly smaller role in the financial system” – Jamie Dimon, CEO, JP Morgan & Chase
The rise of Banking-as-a-Service BaaS
Value Chain

Banking capability
BaaS API (and/or embedded BPO)

BaaS API

Brand or BaaS provider

Licence holder
Consumer of BaaS (specialist cloud
(Embedded finance) API platform)

The BaaS market is expected to reach $3.6T by 2030

43
 Profitable segments of the banking value chain at
risk due to nimble new entrants
Estimated business volumes lost
to disintermediation by 20251
Accounts in Millions
24

Payments 34-50%
22
20
18
16
14

Investments 34-50%
12
10
8
6
4
2

Consumer lending 17-34% 0

April 2020 Today

“I would highlight the rapid growth of our Buy

SME lending 17-36% Now Pay Later product. We saw tremendous and
growing demand throughout the quarter and
witnessed the fastest start to any product we have
ever launched.”
Mortgages 12-34% Dan Schulman, CEO, PayPal

1. Citi Research Global Digital Strategy “Bang and Fuse” Model 44

 Incumbent banks’ strategic responses
1 2 3 4 5 6

Divest utility Focus on Collaboration Building Open Banking

Consolidation
segments niche segments with fintechs greenfield business models
 Mergers between  Withdraw from non-  Focus on core  Bilateral partnerships,  Leverage existing  Banking-as-a- Service
banks to capture differentiating utility segments to build investment or license to enter a (BaaS)
economies of scale, activities or scale and scope acquisition new market segment
strengthen niche participate in one over time and with a new brand  Banking-as-a-
focus areas, improve differentiate against Platform
capital positions the specialist plays of
and/or increase challengers
investment capacity

+
+
+
+
+
+
+

+
+

Source: Company website research 45

The Banking Capability Model for the Digital & Open Banking
age to support all strategic responses

Digitally augmented customer experience

93%
95% 92% 87% 77%
Contextual
DISTRIBUTION & Omni-Channel
user-experience
Mass personalization Open banking
Collaboration with
CHANNELS Harmonized, seamless, Tailored products and
Front-to-back digitization

Analytics-driven, ecosystem partners via

proactive, intimate services
omniscient, proactive APIs

91% Analytics
Analytics
MANUFACTURING

84% 91% 94% 90%

Scalable, secure Adaptive and
Flexible, modular Straight-through, resilient operating
infrastructure
product engines real-time processing model
(Cloud)

Efficient and effective operations

X% Proportion of benchmark participants: retail divisions of 53 banks) rated the capability as top priority (importance of 4 or 5 on a scale of 1 (lowest) to 5 (highest)

Source: Temenos Value Benchmark 46

 Market Landscape: Banking revenue moving beyond
incumbents
Segment Sub-segment Example

Banks – Tier 1,2,3+

Credit unions &

community banks

Specialty Finance
Incumbents

Micro finance

Bank owned Challenger banks

Not bank owned Challenger Banks

Pureplay BaaS providers

Non-incumbents BaaS brands excluding platforms

Fintechs

Platform players
(including Payment disruptors)

47
Source: Press research, Industry reports, Temenos analysis
 Growth-share matrix of key segments and tiers

32.0
? : Selectively invest Stars: Invest

Wealth Tech Not-bank owned Challenger banks

Market growth 2020-24 (%)1

Corporate T1 & 2 & BaaS providers

Digital Lenders
Retail T1 & 2 PWM

Avg
Corporate T4 Retail T3
Corporate T3
Retail T4
Corporate T5

Retail T5

Credit Union

Pets: Be Opportunistic Cows: Milk to generate cash

0.0
0.0 Avg. 10.0
Relative market share in 20202
size of 2020
SAM

48
 Current Reality at Incumbent Banks

High
Operational
costs

Complex,  Dependencies on end-of-life

Monolithic, systems major cause for
High concern
Long times to Inflexible, operational
market Batch Legacy risk  Basel committee introduces
Based IT new rules to standardize
Landscapes operational risk related to IT
system failures

Poor business Poor customer

insights experience
49
Source: Temenos analysis, Press research
 Today, banks are following a combination of
three technology strategies

Source from Build Renovate

fintechs greenfield existing business
Acquire modern cloud- Launch a greenfield Modernize existing IT
native technology stack to challenger bank (new architecture using disruptive
augment/enhance in- brand/market) technologies
house capabilities

IT implementation Build Build & OR Continuous

strategy & migrate migrate renovation

50
Technology attributes required for today and tomorrow
Attributes Temenos Characteristics

Composable banking

Extensibility Framework
Openness &
Interoperability
Low code Configuration, workflow and rules
Agility and time
Modularity
to market
Embedded Explainable Artificial Intelligence

Software-
as-a-Service Multi-entity Global processing
Data No /Low code
(SaaS)
aggregation & Hyper-
data quality personalization

Smart Data Migration

Hyper-scalability, Cloud-native, Cloud-agnostic platform

resilience &
Security
availability

Continuous Integration and Deployment

51
Thank You
 The Evolution of
Temenos
Products and
Services

Prema Varadhan,
Chief Product and
Technology Officer
Changing Ecosystem of Banking Service Providers

INSTITUTION TYPE KEY ELEMENTS ROLE

 Product builder?
Incumbents  Cloud Core Banking
 Builder-Aggregator?
 Open Banking APIs
 Distributor?
Non-incumbents  Banking-as-a-Service
 Distributor-Aggregator?
Click to add text

Extensible banking services and capabilities

Cloud-native but with choice
Open platform for collaboration
Global scalability
54
 THE TEMENOS BANKING CLOUD PLATFORM
FOR COMPOSABLE BANKING

PLATFORM
USERS
Banks Enterprises Solution FinTechs Systems Individual
Providers Integrators Developers

UNIQUE PLATFORM [Link]

CHARACTERISTICS
EXPLORE DEVELOP DEPLOY & TEST COLLABORATE & SELL
 Composable API Catalogue Base Camp Sandbox Environment Temenos Exchange
Services

 Extensibility TEMENOS COMPOSED BANKING SERVICES TEMENOS ENTERPRISE SERVICES

Framework precomposed services based on capabilities end-to-end solutions for banking segments

 Embedded XAI
Services

 Low-code
Configuration,
Workflow and Rules
TEMENOS BANKING CAPABILITIES
 Multi-entity Global grouped by domains
Processing
Customer Risk & Data & Localization
 Smart Data Channels Products Operations Business Support XAI
Engagement Compliance Analytics
Migration

PLATFORM TECHNOLOGY FOUNDATION

 Cloud Native  Distributed Event Architecture  Open APIs  Serverless (Function-as-a-Service and Knative)
 Cloud Agnostic  Continuous Integration & Operations  Security Containers (Kubernetes & OpenShift)
 Database Agnostic  Continuous Delivery & Updates
 TEMENOS BANKING CAPABILITIES LANDSCAPE
GROUPED BY BANKING SERVICE DOMAINS

Wealth Retail SME Customer Transaction Retail Next SME Next Best FCM Outlier
XAI Retail Scoring SME Scoring
Scoring
Customer
Management Management Best Product Product Detection
Management

Channels Customer Engagement Products Operations Data &

Retail Product Analytics
Marketing Product Collateral Local
Retail Banking Onboarding & Pricing Accounts
Origination Campaigns Design & Bundling Management Clearing
Analytics
SME International
SME Banking Onboarding & Orders Retail Deposits Retail Loans E-Money Collections
Origination Clearing
Data Lake
Corporate Corporate Product Corporate Limit Payment
Onboarding & SME Loans Trade Finance
Banking Origination Catalog Loans Management Repair
Market Data
Management
Wealth Wealth Cash Mgmt & Portfolio Funds
Onboarding & Party Securities Commissions
Banking Origination Virtual Accts Management Authorisations
Reference Data
Management
Relationship Corporate Islamic Inclusive
Holdings Actions Banking Banking Reconciliations Treasury
Engagement

Instant Payments
Mandates Execution &
Payments Clearing
Business Support
Request to Local
Pay Payments Accounting Positions

Payment SWIFT
Gateway Connectivity

Customer Know Your Open Banking Localization

RFR FATCA Watchlists Policy Engine
Compliance Customer
Risk & Country
Compliance Financial Risk Fraud AML Models
IFRS Reporting CRS Reporting Tax Monitoring
Management Monitoring
 EXAMPLE TEMENOS COMPOSED BANKING SERVICE
BUY NOW PAY LATER

Wealth Retail SME Customer Transaction Retail Next SME Next Best FCM Outlier
XAI Retail Scoring SME Scoring
Scoring
Customer
Management Management Best Product Product Detection
Management

Channels Customer Engagement Products Operations Data &

Retail Product Analytics
Marketing Product Collateral Local
Retail Banking Onboarding & Pricing Accounts
Origination Campaigns Design & Bundling Management Clearing
Analytics
SME International
SME Banking Onboarding & Orders Retail Deposits Retail Loans E-Money Collections
Origination Clearing
Data Lake
Corporate Corporate Product Corporate Limit Payment
Onboarding & SME Loans Trade Finance
Banking Origination Catalog Loans Management Repair
Market Data
Management
Wealth Wealth Cash Mgmt & Portfolio Funds
Onboarding & Party Securities Commissions
Banking Origination Virtual Accts Management Authorisations
Reference Data
Management
Relationship Corporate Islamic Inclusive
Holdings Actions Banking Banking Reconciliations Treasury
Engagement

Instant Payments
Mandates Execution &
Payments Clearing
Business Support Security
Request to Local
Pay Payments Accounting Positions Access Control

Payment SWIFT
Authentication
Gateway Connectivity

Customer Know Your Open Banking Localization

RFR FATCA Watchlists Policy Engine
Compliance Customer
Risk & Country
Compliance Financial Risk Fraud AML Models
IFRS Reporting CRS Reporting Tax Monitoring
Management Monitoring
 Composed Banking Services for 2022

Temenos Enterprise Temenos Composed Temenos Independent

Services Banking Services Banking Capabilities
Temenos Enterprise Buy Now Pay Later Retail Loans
Digital Mortgages Demand Deposit Accounts Retail Deposits and Savings
Retail Lending Accounts
Temenos Enterprise Pricing Virtual Account Management
Explainable AI IDFS (Salesforce)
Financial Crime Mitigation
TARGET Instant Payments Settlement

Localization 58
 Why is it better?

The broadest set Localized Extensible with Scales with

of open and configurations Banking business growth
composable Capabilities from
banking capabilities Temenos and
in the market Exchange

The ability to Compose banking services allows banks, Temenos, and partners to
rapidly assemble solutions when they are needed, and to re-use the value in existing
capabilities and services easily and with agility
59
ABN AMRO: A true partnership with Temenos driving
innovation and agility on cloud
• Long term strategic partnership through transformation
Background
• Phase 1: Transact, Phase 2: Payments, Phase 3: Temenos Continuous Deployment (TCD) on
& Context Cloud, Phase 4: Wealth

+ Why
•
•
Market-leading solution with most complete functionality
Future proof product roadmap
Temenos • Global reach

= •
•
TCD helped the bank’s 24 innovation teams to innovate more frequently and effectively
30% estimated increase in efficiency

Outcomes • 300% growth in international business since 2012

• 25% reduction in IT development costs for regulatory changes
• Increased agility allowing new countries or acquired banks to be onboarded quickly

“Thanks to Temenos’ innovative Continuous Deployment product, we can gain greater product agility and
improved time-to-value, accelerating the speed of innovation and making business changes rapidly.”
- Friso Westra, Head of IT Development, Core Banking International 60
Flowe: Launching one of the world’s most ethical and
innovative banks in rapid time
• Italian Challenger bank targeting Millennial and Generation Z
Background
• Built unique mobile app that allows users to transfer funds while making positive impact on
& Context society & planet

+ Why
•
•
Proven experience helping other challenger banks launch quickly
Rich API capabilities to support ongoing innovation, including Open Banking initiatives
Temenos • High levels of security and compliance

= •
•
700K customers onboarded in the first six months, including peak of 150K in one week
Fully automated onboarding enabled account opening in 7 to 8 minutes

Outcomes • 3rd party integrations allowed customers to track carbon emissions

• Several high-profile awards for innovation, e.g., IBS Intelligence Global FinTech Innovation
Awards 2020

“Working with Temenos has enabled us to turn our unique vision into reality. Today, we are one of the most ethical
and innovative banks in the world.”
- Cristina Toniazzo, Head of Happiness, Caring & Service Operations 61
Thank you
 Technology
Update

Tony Coleman
Chief Technology Officer
Temenos Offers…
Composable Banking:
Compose services from the most comprehensive set of banking
capabilities, augmented with capabilities with Exchange partners
Choice:
 A single code base
 Investments benefit
everyone

Extensibility: Efficiency:
 Continuously upgrade safely  Simpler to implement
Cloud Native  Opens the platform for partner  Leaner and greener to
Technology: innovation deploy
 Embedded DevOps for  Hyperscale operations
Scale, evolution, future
implementations, upgrades and
proof, proven track
BAU
record

64
Choice

Who runs it? Deployment Architecture Packaged

/
The Temenos Banking Public Cloud Decoupled Differentiate /
Cloud (SaaS) Commodity
Private Cloud Embedded
Client Country Model
Hybrid
Partners Hybrid Safe Extensions
Cloud-like / On-prem
Continuously
Upgradeable

Single Code Base. Investment benefits everyone.

65
 THE TEMENOS BANKING CLOUD PLATFORM
FOR COMPOSABLE BANKING

PLATFORM
USERS
Banks Enterprises Solution FinTechs Systems Individual
Providers Integrators Developers

UNIQUE PLATFORM [Link]

CHARACTERISTICS
EXPLORE DEVELOP DEPLOY & TEST COLLABORATE & SELL
 Composable API Catalogue Base Camp Sandbox Environment Temenos Exchange
Services

 Extensibility TEMENOS COMPOSED BANKING SERVICES TEMENOS ENTERPRISE SERVICES

Framework precomposed services based on capabilities end-to-end solutions for banking segments

 Embedded XAI
Services

 Low-code
Configuration,
Workflow and Rules
TEMENOS BANKING CAPABILITIES
 Multi-entity Global grouped by domains
Processing
Customer Risk & Data & Localization
 Smart Data Channels Products Operations Business Support XAI
Engagement Compliance Analytics
Migration

PLATFORM TECHNOLOGY FOUNDATION

 Cloud Native  Distributed Event-driven Architecture  Open REST APIs  Serverless (Function-as-a-Service and Knative)
 Cloud Agnostic  Continuous Integration & Operations  Security Containers (Kubernetes & OpenShift)
 Database Agnostic  Continuous Delivery & Updates
 TEMENOS BANKING CAPABILITIES LANDSCAPE
GROUPED BY BANKING SERVICE DOMAINS

Wealth Retail SME Customer Transaction Retail Next SME Next Best FCM Outlier
XAI Retail Scoring SME Scoring
Scoring
Customer
Management Management Best Product Product Detection
Management

Channels Customer Engagement Products Operations Data &

Retail Product Analytics
Marketing Product Collateral Local
Retail Banking Onboarding & Pricing Accounts
Origination Campaigns Design & Bundling Management Clearing
Analytics
SME International
SME Banking Onboarding & Orders Retail Deposits Retail Loans E-Money Collections
Origination Clearing
Data Lake
Corporate Corporate Product Corporate Limit Payment
Onboarding & SME Loans Trade Finance
Banking Origination Catalog Loans Management Repair
Market Data
Management
Wealth Wealth Cash Mgmt. & Portfolio Funds
Onboarding & Party Securities Commissions
Banking Origination Virtual Accts Management Authorisations
Reference Data
Management
Relationship Corporate Islamic Inclusive
Holdings Actions Banking Banking Reconciliations Treasury
Engagement

Instant Payments
Mandates Execution &
Payments Clearing
Business Support
Request to Local
Pay Payments Accounting Positions

Payment SWIFT
Gateway Connectivity

Customer Know Your Open Banking Localization

RFR FATCA Watchlists Policy Engine
Compliance Customer
Risk & Country
Compliance Financial Risk Fraud AML Models
IFRS Reporting CRS Reporting Tax Monitoring
Management Monitoring
 Composable Banking

ARCHITECTURE

API Traffic

VNet

Compose solutions Decoupled capabilities - each defines

by choosing its own runtime and dependencies
Temenos Banking Enables Infrastructure-as-Code (IaC) to
Capabilities… be created on the fly…

68
 Composable Banking

ARCHITECTURE

API Traffic

VNet

Compose solutions … and modified as needed

by choosing … from a broad
Temenos Banking range of business
Capabilities… areas …

69
 Composable Banking

ARCHITECTURE

API Traffic

VNet

Compose solutions … add supporting

by choosing … from a broad capabilities, from
Temenos Banking range of business both Temenos and
Capabilities… areas … Exchange Partners
70
Extensibility Framework

What: How:
Upgrade safely, with ease
“Make high-impact “Extend & test
changes frequently solutions safely at the
and predictably with perimeter”
minimal toil”
Protect SLAs

Enhance developer experience

Use industry standard skills

71
Extensibility Framework
& Partners A digital ecosystem for banking
centered around Temenos

System
Empowers the ecosystem to create IP integrators

with Temenos
3rd party
developers Startups
 Co – Innovate
 Co – Create
 Co – Monetize
Complementary
Customers SW providers
Exchange adapters, apps,
localization…..

72
Embedded DevOps & Continuous Updates

WHAT OUR CLIENTS NEED HOW WE DO IT

Seamless updates Release Validation Tests

Always on the last version Automated Test Framework

High Availability / Disaster Temenos Workbench

recovery
Extensibility framework
Evergreen
SLAs

Temenos distributes Release Validation Tests with Temenos Banking Capabilities. These run
on the automated test framework and may be extended for each deployment
73
 Efficiency
Improved efficiency of Temenos software,
regardless of who, how or where it runs

Build Deploy
 Less Infrastructure  Simpler to implement
 Less middleware  Operational simplicity
 Overarching design  Reduced TCO
principle
 Scale as needed

Leaner and greener throughout the Temenos SDLC

and the implementation
74
 Proven Track Record: Cloud Native Technology
2011 2020 2022 2022+

Temenos Cloud Temenos Banking

TECHNOLOGY revolution

Cloud Native Next …

Cloud
 Virtual Machines  Containers & Serverless  Continuous Updates  Multi-Cloud Workload
Allocations
 Core banking  Multi-Product  Composable Banking
Services  XAI ops and NoOps
 Managed Service  Continuous operations
 Enterprise Banking  Specialist Micro-Clouds
 Cloud Agnostic Services
 Hyperplexed
 Temenos Banking Architecture
Capabilities
 Quantum Computing
 Self-Service
 AR + VR
HYPERSCALERS:  Sandbox
 Edge Computing / IoT
 Infrastructure as Code
 Everything as code

75
Thank you
 Composable
Challenger Bank
DEMO

Ramki Ramakrishnan
Global Business Solutions Director
 Spotlight on Composability

Composability Low-touch SaaS Open Platform

 Exploring  Self Service Portal  Composed Services
 Learning  Open Access to all  Banking Capabilities
 Assembling capabilities  Continuous Updates

78
 Buy Now
Pay Later
DEMO

Ramki Ramakrishnan
Global Business Solutions Director
Buy Now Pay Later Demo

80
Summary

81
Thank you
 Temenos SaaS

Ross Mallace,
Business Line Director,
Temenos SaaS
SaaS is rapidly growing
70%+ Year on Year growth for SaaS
Growing margins 300 $284m

Over 700 through automation 250

SaaS clients efficiency gains,
200
economies of scale $165m
& larger clients. 150

100 $89m

50
Solutions supporting all incumbent and
0
non-incumbent business models. 2019 2020 2021

All geographies mobilized for SaaS

Global
Acceleration

84
 Accelerating SaaS Consumption

700+ SaaS Clients

70+ Challenger Banks

10 Years of Operation

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

85
Providing SaaS for all types of banks

Non-incumbents Incumbents

86
 The TEMENOS
BANKING CLOUD

The Open Platform for

TEMENOS Composable Banking
Open Platform
For Composable
Banking Try new ideas in a sandbox

Test and send into production quickly

Extend from the Exchange ecosystem

87
Why are we winning?

Prebuilt Low-touch SaaS to Extensible with

Composed enable self-service Banking Capabilities
Banking Services composability to from Temenos and
banks Exchange

Cloud Native Consumption based Powered by the

Continuous updates Subscription pricing broadest set of
Elastically scalable for cost predictability banking capabilities
Extreme scalability without unnecessary in the market
Multi cloud (Azure & AWS) lock ins

88
 Sharing our clients’ success

• Extremely scalable platform to support successful client growth

• Driving further SaaS consumption from our clients’ success
• Margin growth through economies of scale

Digital Bank Accounts in

Customer Growth 24
Millions
800,000 22

20
700,000
18
600,000
16

500,000 14

12
400,000
10
300,000 8

200,000 6

4
100,000
2

0
Apr May Jun Jul Aug Sep Oct Nov Dec April 2020 May 2021

Single Country Client Global Multi-Country Client

“Temenos’ SaaS technology helped us to rapidly onboard a significant number of users in a matter of days.”
- Ivan Mazzoleni, CEO of Flowe Bank 89
Thank you
 Temenos’
approach to
ESG

Kalliopi Chioti
Chief ESG Officer
92
The 3 dimensions of our ESG strategy

VALUE COMMUNITY RISK

CREATION INVESTMENT MANAGEMENT

Impact on Impact on Impact on

business model society operations

93
 Integrating ESG into our operations and
product offering

WHAT IT MEANS TO US: ESG PRIORITY STRATEGIC AREAS

 Achieving Business Excellence

Helping our clients transform into smart, inclusive
and sustainable organizations  Operating Responsibly
 Investing in our People
 Investing in our Communities
Managing our operations ethically and responsibly
 Enabling Access to
Financial Services

Contributing to global social and environmental

initiatives

94
 Engaging with our stakeholders to define our
focus areas
SOCIAL

 Diversity, Equity & Inclusion

ENVIRONMENT GOVERNANCE
 Digital Inclusion & Innovation

 Environmental Management &  Poverty Alleviation & Financial  Ethical Business Conduct &
Awareness Inclusion Governance
 Climate Change & Carbon  Employee Volunteering &  Responsible & Inclusive
Neutrality Community Service Procurement
 Information Security, Data Privacy
& Business Continuity

Our
APPROACH
95
 Setting competitive ESG targets

SOCIAL

Diversity, Equity & Inclusion

ENVIRONMENT Employees GOVERNANCE

Climate Change & Carbon Neutrality

Business Ambition for 1.5°C

Reporting progress
Our in the
Temenos Annual Report
TARGETS
96
 Mitigating Climate Change

 Aligned our climate  Temenos Banking Cloud as a

strategy and reporting with climate-related opportunity
TCFD recommendations  Provide our clients with the
 Set Science-based targets tools to reduce their or their
customers’ carbon footprint, [Link]
for own operations and anks-need-to-act-now-to-reduce-
improve their environmental their-carbon-footprint-urges-
suppliers by end of 2022 performance, reach their temenos/

sustainability targets and

enable them through their net
zero journey

 Work with our partners on the

above for bigger
environmental benefit for our
clients.
[Link]
hforgood-january-2022?p=52

97
Reporting on our ESG Progress

 GRI & SASB reporting

 TCFD reporting
 UN SDGs mapping
(operations & product offering)
 ESG targets (2030)
 Science-based targets (by end of 2022)
 3rd party external assurance

[Link]

98
 Benchmarking against global indices and ratings
OUR ACHIEVEMENTS
Top 25 2nd in the 2x Sustainability
Swiss SOF category Top Highest Top Award
stocks globally 10% rating performer Winner
SXI Switzerland Dow Jones
Bloomberg 2022 S&P Global
FTSE4GOOD CDP Gender Equality
Sustainability 25® Sustainability Index Silver Class + Industry
Index World & Europe Index Leadership (A/A-) Index Mover

Top Highest PRIME Low Top Top

20% rating status risk 1% 20%
Ecovadis
ISS ESG PRIME Sustainalytics
MSCI AA Rating ISS E&S Rating Platinum Vigeo Eiris
Status low risk
medal

[Link]

99
 Delivering business value along our value chain with targeted initiatives

Product & Sales & Support Ops &

HR Finance Procurement
Cloud Marketing Analytics

 Measure and  ESG to be integral  Introduce purpose-  Implement TCFD  Require critical  Establish real time
showcase green part of our brand driven talent recommendations suppliers to have BI system for ESG
benefits of Temenos and marketing management SBTs by 2025 data disclosures
Banking Cloud  Set Science-Based
 Organize 1st ESG (Climate) targets by & reporting
 Set up supplier
 Onboard ESG impact event for end FY 2022 diversity
partners focus on Temenos framework
Exchange community  Identify sustainable
financing options
 Incorporate
sustainable
software
engineering
practices

 Increase sales  Increase sales  Increase  Increase financing  Remain  Remain

opportunities opportunities retention options competitive with competitive
clients and
 Increase win rate  Remain  Attract best  Remain  Drive internal
partners
 Remain competitive talent competitive efficiency
competitive 100
 Because it is no longer
enough to have the
best, fastest or
cheapest product… It is about
operating
responsibly

Doing business with

our people, clients, Innovating
partners and with
communities purpose
that share our values

And winning the right way,

not just the easy way.

101
[Link]/corporate-social-responsibility/

102
 Thank You
[Link]/corporate-social-responsibility/
 Financial growth
plan

Takis Spiliopoulos
CFO
 Accelerating growth trajectory

To grow ARR at a To grow Expanding

Total Software EBIT margin
CAGR of 20-25% Licensing
from 2021-25, revenue at a
to c.41%
by 2025
To reach c.USD1.3bn CAGR of
by 2025 (85%+ of total
revenues) 15-20%
from 2021-25

105
Note: Revenue, cost and profit numbers are non-IFRS
 Accelerating ARR and Total Software Licensing…

Total ARR Total Software Licensing

c.25% 22-25 CAGR
>19% 22-25 CAGR

19%* 17%*
c.19% 17-19 CAGR
12% 17%
c.16% 17-19 CAGR

553 445 414

462 494 383 356
391 316
345

2017 2018 2019 2020 2021 2022E 2025E 2017 2018 2019 2020 2021 2022E 2025E

Note: Numbers are non-IFRS. Note: Numbers are non-IFRS. 2020 and 2021 at constant currency
* Mid-point 2022 guidance

106
 …driving acceleration in EBIT and Free Cash Flow

Non IFRS EBIT FCF

>15% 22-25 CAGR
>25% 23-26 CAGR

10%*

10%
c.19% 17-19 CAGR c.9% 17-19 CAGR

357 358
318 323 297
265 280 269
224 227

2017 2018 2019 2020 2021 2022E 2025E 2017 2018 2019 2020 2021 2022E 2023E 2026E

Note: Numbers are non-IFRS. 2020 and 2021 at constant currency

* Mid-point 2022 guidance

107
 Move to subscription captures greater value and
accelerates our growth
Client across all tiers and business models are Significant acceleration in Annual Recurring Revenue
increasingly asking for subscription contracts ARR % of Total Revenue
c. 1.3b
rather than traditional upfront license

85%+
80%

70%
553m 65%
Temenos will sell five year subscription contracts 64%
62% 63%
60%
57% 57%
for on-premise license and maintenance as
standard from January 2022, including for
renewals
2021 2022E 2023E 2024E 2025E

Subscription license model Term & Perpetual license model

Growth in subscription and SaaS will drive recurring revenue;

Subscription model accelerates shift to more predictable financial performance
108
Tangible benefits to clients and Temenos

Benefits to client Benefits to Temenos

Enhanced value proposition for customers Significantly expanding long-term value

significantly expanding flexibility creation potential through incremental
growth, higher margins and cash flows

Lower upfront cost, reflecting a shift to OPEX Accelerate the shift to more predictable
from CAPEX and the time value of money financial performance driven by a much
higher proportion of recurring revenues

Easier to scale with demand Increase total contract values inline with
peers

Flexible maintenance options

Greater upsell opportunity

Easier path to SaaS Better customer retention

109
 Subscription will become a material contributor to ARR

Term and Perpetual model Move to Subscription model

27% 27%
c.45%
c.50%

c.30%
73% 73%

c.50%
c.25%

2021 2022E 2023 2024 2025 2021 2022E 2023 2024 2025

Maintenance SaaS Maintenance Subscription SaaS

Subscription and SaaS to become main contributors through 2025 and beyond

110
 Subscription model illustration

Term / Perpetual model – P&L Subscription model – P&L

5 5 5

1 1 1 1 1 1 1 1 1 1 1

Year 1 Year 2 Year 3 Year 4 Year 5 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6
Maintenance Term License Maintenance Subscription License

Term / Perpetual model – Cash Subscription model – Cash

1 1 1 1 2 2 2 2 2 2

Year 1 Year 2 Year 3 Year 4 Year 5 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6

Cashflow Cashflow

Term / Perpetual model – ARR Subscription model – ARR

2 2 2 2 2 2
1 1 1 1 1
Year 1 Year 2 Year 3 Year 4 Year 5 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6

ARR ARR

111
Note: Based on our standard 5 year term contract and based on IFRS15 standards
Drivers of growth

112
 Application software is significantly underpenetrated

Third Party Software penetration by industry in 2021 2021 2025

70% 40%
65% 39%
40%
61% 38%
60%
53%
35%
50% 32%
41%
30% 28%
40% 31%
35%

30% 25%

20% 20%
Government Manufacturing Retail Healthcare Banking Payments Corporate Wealth Retail Banking Temenos*
Banking Management

Includes only the spend addressable by Temenos with the current product portfolio.

Total spend, including horizontal solutions (e.g. ERP, CRM)

Source: IDC, Ovum, Gartner, Celent, McKinsey, Temenos estimates

113
 Sizeable and fast-growing addressable market

USD 64bn

CAGR 10% CAGR 10% CAGR 10%

USD 26bn USD 26bn USD 26bn

USD 18bn 18%

USD 18bn USD 18bn
9%

82%
91%

Total Addressable Market Third party software Third party software Third party software Third party software Third party software Third party software
spend spend spend spend spend spend
2021 2025E 2021 2025E 2021 2025E

Core banking Digital Front Office On premise market SaaS market Incumbents Non incumbents
Payments Fund admin
CAGR 2021-25 5% 28% CAGR 2021-25 7% 29%

Source: IDC, Ovum, Celent, McKinsey, Temenos estimates

Incumbents refers to traditional banks, non-incumbents refers to new business models offering banking services and products 114
Building momentum with tier 1 and 2 clients

Non-IFRS total software licensing revenues by client tier

26% 36% 40-50%

115
Building momentum in North America

Non-IFRS total software licensing, North America vs. Rest of World

10% 33% 40-45%

116
 Future Reporting - Subscription

Total Software Licensing (old) Total Software Licensing (new)

+ License revenue + Term & Perpetual License revenue
+ SaaS + Subscription
+ SaaS
= Total Software Licensing revenue = Total Software Licensing revenue

ARR (old) ARR (new)

+ Term & Perpetual Maintenance + Term & Perpetual Maintenance
+ SaaS + Subscription
+ SaaS
= Annual Recurring Revenue = Annual Recurring Revenue

117
 Focused Guidance Metrics

KPI Reporting Annual Guidance 2025 Targets (absolute / CAGR)

SaaS ACV 
Total Bookings 
ARR   
Total Software Licensing   
Total Revenue   
EBIT   
Operating Cash Conversion  
Free Cash Flow  
Recurring Revenue 
DSO 
Tax Rate 

118
 Medium Term Targets

Mid-term Guidance 2020 (CCY) 2021 (CCY) Medium Term Targets Previous guidance

20-25% CAGR 2021-25

ARR 494 553 >=15% CAGR 2020-25
c.USD1.3bn of ARR by 2025
Total Software
356 414 15-20% CAGR 2021-25 15-20% CAGR 2020-25
Licensing

Total revenue 900 962 10-15% CAGR 2021-25 10-15% CAGR 2020-25

EBIT margin 35.9% 37.1% c.41% by 2025 c.41% by 2025

10-15% CAGR 2021-26 to reach >=15% CAGR 2020-25 to

FCF 297 358
>USD600m by 2026 reach >USD600m

Targets are non-IFRS. Tax rates estimate: FY22 guidance at 18-20%, 19.5-21.5% for FY23-25

119
EBIT Margin % expansion
130-150bps p.a c.41%

SaaS
c.150bps
SaaS
100bps 37% BAU
BAU
36%
(150-200 bps)

FY20 CCY FY21 FY21 CCY FY22 FY22 FY23-25 FY25

Expansion Expansion Investment Expansion

 After years of margin expansion (FY14-21 averaging >100bps p.a.), FY22 represents a year of investment
(e.g. wage inflation, variable cost increases such as travel)
 FY23-25 resumption of margin expansion trajectory

Note: Non-IFRS. FY21 EBIT margin based on EBIT restated for forex 120
 SaaS Gross Margin % evolution 6%+ >=80%
4%+
3%+
7% c.67%

60%
57%

47%

 Hyper-scalers: unit costs to reduce as volumes increase

 Automation to drive significant efficiencies in operation centres
 Operations optimised into centralised offshore function with local hubs to provide “follow the sun” service
and drive economies of scale
Gross margin includes all SaaS dedicated operations costs including cloud platform costs, datacentre infrastructure, people & associated costs,
security tooling and compliance costs. 121
FY21 exit run rate adjusted to include all contracted revenues and cost optimisations currently in implementation.
 Drivers of non-IFRS EBIT margin evolution

c.41%

37%

 On-Premise and services gross margin to remain constant

 SaaS Gross Margin to expand to at least 80%
 Continued leverage of R&D and G&A infrastructure
 Sustained investments in Sales & Marketing
122
Disciplined capital allocation (2015-2021)

Balance sheet
(31-Dec-21)
Share buyback -
Outflow Weighted average
30% interest rate 2.1%
Acquisition -
Outflow
55%
Weighted average debt
maturity
2.2 years
Dividend -
Outflow
15% Leverage ratio 1.8x

Targeted acquisitions for USD1.2bn+ and returned c.USD1bn to shareholders

123
Using M&A to accelerate organic growth

Date Price (m) Capabilities

Sep 19 $560 US scale, digital banking and low code development, cloud operations excellence

Jul 19 £12 Explainable AI expertise across all products

Feb 19 N.D. Data lake capabilities

Dec 18 $245 Digital front office, cloud operations excellence

Feb 17 $50 Core banking, wealth management, scale in Australia

Mar 15 $260 Fund and securities

Feb 15 $55 Core banking, analytics, US credit union expertise

15-20% EBIT contribution over 6 years from USD1.2bn of M&A

124
 A three-pronged
approach to M&A
to accelerate
organic growth

Accelerated R&D Adjacent markets

roadmap in key Increased and
markets and scale complementary
segments products

125
 Driving shareholder value through accelerating
growth

A sizeable and fast growing market Temenos is a leader across all client
that is changing rapidly types, incumbent and non-incumbent

Single code base drives higher margin,

Move to subscription will further
competitive edge and profitable
accelerate our growth
growth

126
Appendix
 Key cost lines as a percentage of revenue

37% Margin
c.41% Margin

14%
~12%

7% ~5%

21% <17%

21% 25%+

FY21 FY25
S&M R&D G&A Services

Note: Non-IFRS.

128
Non-IFRS EBIT reconciliation

35.2%

 Last 10 year average IFRS2 cost as a % of revenues was c.4-5%

 Total IFRS2 charges for companies in peer group is 4.5%

129
Thank You