Fiserv (FISV) official guidance

We continue to expect Clover revenue growth in the low double digits for 2026 and GPV growth of 10%-15% ex the gateway conversion.

Consistent with our preliminary view in October and assuming stable macroeconomic conditions, we expect Clover GPV growth of 10%-15% in 2026 ex the gateway conversion.

Our full-year adjusted tax rate guidance of 19%-19.5% remains unchanged, and we expect higher quarterly effective tax rates through the balance of the year as an offset.

Fiserv now expects organic revenue outlook for 2026 of (1%) to 0% and adjusted earnings per share outlook of $7.20 to $7.40.

We expect our weighted average share count to be approximately 530 million, resulting in adjusted EPS of $8.00-$8.30, consistent with our prior guidance.

Fiserv continues to expect organic revenue growth of 1% to 3% and adjusted earnings per share of $8.00 to $8.30 for 2026.

Putting it all together, we expect adjusted EPS of $8-$8.30.

Fiserv expects organic revenue growth of 1% to 3% and adjusted earnings per share of $8.00 to $8.30 for 2026.

We continue to expect free cash flow conversion of approximately 90% of adjusted net income for the year, in line with historical levels and our February guidance.

We expect free cash flow conversion of approximately 90% of adjusted net income for the year in line with historical levels.

We expect to finish the year at approximately three times.

To complete our strategic investments, we expect capital expenditures to remain approximately flat with 2025 levels and end the year with a leverage ratio of approximately 3x.

We continue to expect adjusted operating margin of approximately 34% for the year.

For the year, this translates into approximately 34% adjusted operating margin.

We expect 2026 organic revenue growth in the range of 1%-3%, with Merchant Solutions revenue growth in the mid-single digits and Financial Solutions flat to slightly down.

On a preliminary basis, we expect organic revenue growth to be in the low single digits and adjusted EPS to be down modestly versus 2025, and of course we'll be going through the normal financial planning process over the next few months.

Consistent with February, we expect adjusted revenue growth in the range of 1%-3%.

We expect offsetting FX and M&A impacts for 2026, driving our expectation for adjusted revenue growth that is also in the range of 1%-3%.

| 2026 Adjusted revenue | 1% - 3% |

We continue to expect Clover revenue growth in the low double digits for 2026 and GPV growth of 10%-15% ex the gateway conversion.

Based on these volume expectations, the impact of Clover fee eliminations and more moderate growth from Argentina, we expect Clover revenue to grow in the low double digits for 2026.

We would see a tick up into kind of a low teens roughly range, is our expectation as we're in the early stages of planning for 2026.

Fiserv continues to expect organic revenue growth of 1% to 3% and adjusted earnings per share of $8.00 to $8.30 for 2026.

Fiserv expects organic revenue growth of 1% to 3% and adjusted earnings per share of $8.00 to $8.30 for 2026.

We expect our effective tax rate to be in the range of approximately 19%-19.5% for the full year, and weighted average share count to be approximately 530 million.

In the first half, we expect adjusted operating margin of 31%-32%, with Q1 representing the low point just below 30%.

In the second half of the year, we expect adjusted operating margin of 35%-36%, with Q4 representing the high point in the year.