1st Quarter FY 2024

Earnings Presentation
August 2, 2023
Non-GAAP Financial Measures
We present Non-GAAP financial measures which are derived from the statements of operations, cash flow and balance sheets of DXC. These Non-GAAP financial measures include earnings before interest and taxes ("EBIT"), adjusted
EBIT, adjusted EBIT excluding pension income, adjusted EBIT margin, adjusted EBIT margin excluding pension income, adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”), Non-GAAP income from
continuing operations before income taxes, Non-GAAP net income attributable to DXC and Non-GAAP basic and diluted EPS, organic revenue growth, constant currency revenue, free cash flow, Non-GAAP cost of services, Non-GAAP
SG&A expense, Non-GAAP depreciation and amortization, Non-GAAP gross profit, Non-GAAP tax rate, Non-GAAP income tax expense, Non-GAAP other income, and Net Debt/adjusted EBITDA.

We believe EBIT, adjusted EBIT, adjusted EBITDA, adjusted EBIT margin, adjusted EBITDA margin, Non-GAAP income before income taxes, Non-GAAP net income attributable to DXC, Non-GAAP basic and diluted EPS provide investors
with useful supplemental information about our operating performance after excluding certain categories of expenses.

We believe organic revenue growth and constant currency revenue provide investors with useful supplemental information about our revenues after excluding the effect of currency exchange rate fluctuations for currencies other than U.S.
dollars in the periods presented, and impact of acquisitions and divestitures. See below for a description of the methodology we use to present organic revenue growth and constant currency revenue.

One category of expenses excluded from adjusted EBIT and adjusted EBITDA, Non-GAAP income from continuing operations before tax, Non-GAAP net income attributable to DXC and Non-GAAP EPS, incremental amortization of
intangible assets acquired through business combinations, may result in a significant difference in period over period amortization expense on a GAAP basis. We exclude amortization of certain acquired intangible assets as these non-cash
amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size of acquisitions. Although DXC management excludes amortization of acquired intangible assets, primarily customer-related
intangible assets, from its Non-GAAP expenses, we believe that it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and support revenue generation. Any future transactions
may result in a change to the acquired intangible asset balances and associated amortization expense.

Another category of expenses excluded from adjusted EBIT and adjusted EBITDA, Non-GAAP income from continuing operations before tax, Non-GAAP net income attributable to DXC and Non-GAAP EPS, impairment losses, may result in
a significant difference in period over period expense on a GAAP basis. We exclude impairment losses as these non-cash amounts, generally an acceleration of what would be multiple periods of expense, have not occurred frequently.
Further assets such as goodwill may be significantly impacted by market conditions outside of management’s control.

Free cash flow is defined as net cash provided by operating activities less capital expenditures. Free cash flow is utilized by our management, investors, and analysts to evaluate cash available to pay debt, repurchase shares and provide
further investment in the business. Net debt is defined as the sum of short-term debt, current maturities of long-term debt and long-term debt less cash and cash equivalents. We believe this measure provides investors with greater
transparency with respect to our net leverage.

There are limitations to the use of the Non-GAAP financial measures presented in this report. One of the limitations is that they do not reflect complete financial results. We compensate for this limitation by providing a reconciliation between
our Non-GAAP financial measures and the respective most directly comparable financial measure calculated and presented in accordance with GAAP. Additionally, other companies, including companies in our industry, may calculate Non-
GAAP financial measures differently than we do, limiting the usefulness of those measures for comparative purposes between companies.

Selected references are made to revenues on an “organic basis” so that certain financial results can be viewed without the impact of fluctuations in foreign currency rates and without the impacts of acquisitions and divestitures, thereby
providing comparisons of operating performance from period to period of the business that we have owned during all periods presented. Organic revenue growth is calculated by dividing the year over year change in GAAP revenues
attributed to organic growth by the GAAP revenues reported in the prior comparable period. Revenues on an “organic basis” in calculating organic revenue growth are Non-GAAP financial measures calculated by translating current period
activity into U.S. dollars using the comparable prior period’s currency conversion rates after excluding the impact of acquisitions and divestitures on revenue in both periods. Revenues on a “constant currency basis” are Non-GAAP financial
measures calculated by translating current period activity into U.S. dollars using the comparable prior period’s currency conversion rates.

DXC does not provide a reconciliation of Non-GAAP financial measures that it discusses as part of its guidance because certain significant information required for such reconciliation is not available without unreasonable efforts or at all,
including, most notably, the impact of significant non-recurring items. Without this information, DXC does not believe that a reconciliation would be meaningful. Explanations of Non-GAAP financial measures used herein are provided later in
this document.

2
Forward-Looking Statements
All statements and assumptions contained in this earnings presentation that do not directly and exclusively relate to historical facts constitute “forward-looking statements.” Forward-looking statements often include words such as
“anticipates,” “believes,” “estimates,” “expects,” “forecast,” “goal,” “intends,” “objective,” “plans,” “projects,” “strategy,” “target,” and “will” and words and terms of similar substance in discussions of future operating or financial performance.
These statements represent current expectations and beliefs, and no assurance can be given that the results described in such statements will be achieved. Forward-looking statements include, among other things, statements with
respect to our future financial condition, results of operations, cash flows, business strategies, operating efficiencies or synergies, divestitures, competitive position, growth opportunities, share repurchases, dividend payments, plans and
objectives of management and other matters. Such statements are subject to numerous assumptions, risks, uncertainties and other factors that could cause actual results to differ materially from those described in such statements, many
of which are outside of our control. Important factors that could cause actual results to differ materially from those described in forward-looking statements include, but are not limited to: our inability to succeed in our strategic objectives;
the risk of liability or damage to our reputation resulting from security incidents, including breaches, and cyber-attacks to our systems and networks and those of our business partners, insider threats, disclosure of sensitive data or failure
to comply with data protection laws and regulations in a rapidly evolving regulatory environment; in each case, whether deliberate or accidental; our inability to develop and expand our service offerings to address emerging business
demands and technological trends, including our inability to sell differentiated services amongst our offerings; our inability to compete in certain markets and expand our capacity in certain offshore locations and risks associated with such
offshore locations, such as the ongoing conflict between Russia and Ukraine; failure to maintain our credit rating and ability to manage working capital, refinance and raise additional capital for future needs; public health crises such as the
COVID-19 pandemic; our indebtedness; the competitive pressures faced by our business; our inability to accurately estimate the cost of services, and the completion timeline of contracts; execution risks by us and our suppliers,
customers, and partners; the risks associated with climate change and natural disasters; increased scrutiny of, and evolving expectations for, sustainability and environmental, social, and governance initiatives; our inability to retain and
hire key personnel and maintain relationships with key partners; the risks associated with prolonged periods of inflation or current macroeconomic conditions, including the current decline in economic growth rates in the United States and
in other countries, the possibility of reduced spending by customers in the areas we serve, the success of our cost-takeout efforts, continuing unfavorable foreign exchange rate movements, and our ability to close new deals in the event
of an economic slowdown; the risks associated with our international operations, such as risks related to currency exchange rates; our inability to comply with existing and new laws and regulations, including social and environmental
responsibility regulations, policies and provisions, as well as customer and investor demands; our inability to achieve the expected benefits of our restructuring plans; inadvertent infringement of third-party intellectual property rights or our
inability to protect our own intellectual property assets; our inability to procure third-party licenses required for the operation of our products and service offerings; risks associated with disruption of our supply chain; our inability to maintain
effective disclosure controls and internal control over financial reporting; potential losses due to asset impairment charges; our inability to pay dividends or repurchase shares of our common stock; pending investigations, claims and
disputes and any adverse impact on our profitability and liquidity; disruptions in the credit markets, including disruptions that reduce our customers’ access to credit and increase the costs to our customers of obtaining credit; counterparty
default risk in our hedging program; our failure to bid on projects effectively; financial difficulties of our customers and our inability to collect receivables; our inability to maintain and grow our customer relationships over time and to comply
with customer contracts or government contracting regulations or requirements; our inability to succeed in our strategic transactions; changes in tax rates, tax laws, and the timing and outcome of tax examinations; risks following the
merger of Computer Sciences Corporation (“CSC”) and Enterprise Services business of Hewlett Packard Enterprise Company’s (“HPES”) businesses, including anticipated tax treatment, unforeseen liabilities, and future capital
expenditures; risks following the spin-off of our former U.S. Public Sector business (the “USPS”) and its related mergers with Vencore Holding Corp. and KeyPoint Government Solutions in June 2018 to form Perspecta Inc. (including its
successors and permitted assigns, “Perspecta”), which was acquired by Peraton in May 2021. For a written description of these factors, see Part I, Item 1A “Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended March
31, 2023, and any updating information in subsequent SEC filings, including DXC’s upcoming Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2023.

No assurance can be given that any goal or plan set forth in any forward-looking statement can or will be achieved, and readers are cautioned not to place undue reliance on such statements, which speak only as of the date they are
made. Any forward-looking statement made by us in our earnings presentation speaks only as of the date on which our earnings presentation was first filed. We do not undertake any obligation to update or release any revisions to any
forward-looking statement or to report any events or circumstances after the date of this report or to reflect the occurrence of unanticipated events, except as required by law.

3
Agenda for Today

1 Update on Our Overall Business Performance

2 Performance of Our GBS and GIS Businesses

3 Q1 FY24 Financial Results and Guidance

4 Closing Remarks and Questions

4
Q1 FY24 Context

• We are taking the right steps to shape DXC into a company that consistently
delivers revenue growth and expanded adjusted EBIT margin, Non-GAAP
EPS, and free cash flow

• Focusing on our high-value growth business of GBS and fixing the historical
challenges of our GIS business, along with changing the revenue mix so that
GBS is the majority of our revenue

• As we began FY24, we saw resiliency in our business – in FY23 we

Context delivered four consecutive quarters of constant currency revenue stability in
a slowing IT market

• In Q1 FY24, the GBS business held up, while GIS did not show resiliency

• We have changed how DXC engages with the market by moving to an

offering-led operating model

5
Q1 FY24 Results

• Organic revenue growth was -3.6% – about $75 million lower than
the midpoint of our guidance range

• Adjusted EBIT margin was 6.5%

• Free cash flow better than expected – strong execution on working

capital management

• Non-GAAP diluted EPS was $0.63

Q1 Results • Delivered a BtB of 0.89x – TTM BtB 1.03x

6
GBS – High-Margin/Quality Growing Business

• GBS grew 3.3% – the flywheel that provides sustainable growth at double-
digit margins – 9th consecutive quarter of organic revenue growth

• GBS is now 49.4% of revenue – expect it will be the majority of DXC

revenue very soon

• Consistent growth – Analytics & Engineering, Applications, and Insurance

are all uniquely positioned in their respective markets

GBS Overview • Analytics & Engineering is well positioned due to our engineering talent

• Insurance is the world’s largest provider of insurance software and BPS

solutions, working with 18 of the top 20 global insurers

• Applications – Custom application skills that modernize custom-built

platforms and unique capabilities with enterprise applications providers like
ServiceNow

7
GIS – Taking the Right Steps to Improve This Business
• GIS revenue declined 9.9% in Q1 FY24

• Security – Provide security strategies and resources to help customers

protect themselves

• We did not make the progress we intended with the Cloud/ITO and Modern
Workplace offerings
‒ Cloud/ITO – Weaker resale revenue and project work in Q1 but taking
market share at better economics, as evidenced by our newly announced
deal with AT&T

GIS Overview ‒ Modern Workplace – Weaker project work and some outsourcing work
being insourced as customers return to their offices

• Actions to improve the business:

‒ Managing the disruption from terminated contracts
‒ Bolstering our customer delivery and off-shore delivery capability
‒ Improving market reputation
8
AI Products and Teams in Both Our GBS and GIS Businesses

• AI has been a passion for me before I joined DXC:

– Launched and was initial Executive Chairman of an AI startup
– Author of AI articles for Chief Executive Magazine

• Brought this passion to DXC, and we have made focused investments in AI

every year that I have been CEO, now having over 10,000 trained resources
and AI capabilities in both GBS and GIS

• GBS AI capabilities:
AI Capabilities – DXC Assure for our Insurance offering
– Robotic Drive for our Analytics & Engineering offering

• GIS AI capabilities:
– DXC Platform XTM for our Cloud/ITO offering
– UPtime product that powers our Modern Workplace offering
9
 Financial Update

Transformation Journey Continues

Organic Revenue Growth Trends (YoY) Adjusted EBIT Margin
FY23 Q1 Q2 Q3 Q4 FY24 Q1 8.7% 8.9%
7.0% 7.5%
6.5%

(1.5%)
(2.6%) (2.9%)
(3.8%) (3.6%)
FY23 Q1 Q2 Q3 Q4 FY24 Q1

Non-GAAP Diluted EPS Free Cash Flow ($M)

$1.02
$0.95 463
$0.75 $0.75
$0.63 269

17

(12)
(75)
FY23 Q1 Q2 Q3 Q4 FY24 Q1 FY23 Q1 Q2 Q3 Q4 FY24 Q1

10
Q1 Key Financial Metrics
(in $M, except EPS and shares) Q1 FY24 Q1 FY23 Change

Revenue 3,446 3,707 (7.0%)

Non-GAAP Gross Profit 727 777 (6.4%)
As % of sales 21.1% 21.0% 10 bps
Non-GAAP SG&A Expenses (315) (337) (6.5%)
As % of sales (9.1%) (9.1%) 0 bps
Non-GAAP Depreciation & Amortization (255) (285) (10.5%)
As % of sales (7.4%) (7.7%) 30 bps
Non-GAAP Other Income 67 104 (35.6%)
As % of sales 1.9% 2.8% (90) bps
Adjusted EBIT 224 259 (13.5%)
As % of sales 6.5% 7.0% (50) bps
Net Interest Expense (17) (17) 0.0%
Non-GAAP Tax Rate 34.3% 25.6% 870 bps

Non-GAAP Net Income 134 179 (25.1%)

Non-GAAP Diluted EPS $ 0.63 $ 0.75 (16.0%)
Weighted Average Diluted Shares (M) 213.8 237.4 (9.9%)

11
GBS/GIS Results
GBS Organic Revenue Growth (YoY) GIS Organic Revenue Growth (YoY)
FY23 Q1 Q2 Q3 Q4 FY24 Q1 FY23 Q1 Q2 Q3 Q4 FY24 Q1

3.4% 3.3% 3.3% (5.8%)

2.8%
(7.2%) (7.4%)
(8.5%)
0.2% (9.9%)

GBS Segment Profit Margin GIS Segment Profit Margin

14.0% 13.7%
11.9% 12.7%
11.3% 7.8%
6.5% 6.2% 6.7%
5.2%

FY23 Q1 Q2 Q3 Q4 FY24 Q1 FY23 Q1 Q2 Q3 Q4 FY24 Q1

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GBS/GIS Offerings
Q1 FY24
YoY Organic
Revenue ($M) Book-to-Bill
Growth*
Analytics & Engineering 546 8.8% 1.03x
Applications 770 (0.7%) 0.83x
GBS Insurance Software & BPS 382 5.1% 0.59x
Mergers, Acquisitions & Divestitures 5 - -
GBS Total 1,703 3.3% 0.84x
Security 111 6.8% 0.82x
Cloud Infrastructure & ITO 1,209 (12.7%) 1.01x
GIS Modern Workplace 423 (5.0%) 0.77x
Mergers, Acquisitions & Divestitures - - -
GIS Total 1,743 (9.9%) 0.94x
DXC TOTAL 3,446 (3.6%) 0.89x

* Please see definitions and reconciliations of Non-GAAP measures at end of presentation.

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Continuing Progress on Our Financial Foundation
Total Debt ($M) Net Interest Expense ($M)

4,778
4,723
4,585
4,529
17 16 15 17 17
4,400

FY23 Q1 Q2 Q3 Q4 FY24 Q1 FY23 Q1 Q2 Q3 Q4 FY24 Q1

Restructuring/Transaction, Separation & Integration ($M) Cash Payments for Operating Leases ($M)
Transaction, Separation 106 108
& Integration
Restructuring
97
85 93
4 90
57 55
35 4 6
2 81 21
53 49 1
33 20
FY23 Q1 Q2 Q3 Q4 FY24 Q1 FY23 Q1 Q2 Q3 Q4 FY24 Q1

14
Continuing Progress on Our Financial Foundation
Capital Expenditures ($M) Finance Lease & Asset Financing Payments ($M)

195 202 159

175 162 131
146 115 125
112

FY23 Q1 Q2 Q3 Q4 FY24 Q1 FY23 Q1 Q2 Q3 Q4 FY24 Q1

Capital Expenditures & Finance Lease Originations

Finance Lease & Asset Financing Originations ($M)
as a % of Revenue
80
62 66
48 7.3%
6.4% 6.2% 6.4% 6.3%
25

FY23 Q1 Q2 Q3 Q4 FY24 Q1 FY23 Q1 Q2 Q3 Q4 FY24 Q1

15
Repurchased >20% of Shares Outstanding Since Start of FY22
$900 50
Share Repurchases
$800 9.5% Shares O/S* 45
7.3% Shares O/S*
$700
$679M 40
$634M
35
$600
30
$500
25
$400 4.3% Shares O/S*
24.4M 20
$300
$280M
18.8M 15

$200
10
11.0M
$100 5

$- 0
FY22 FY23 FY24 Q1

• Since the start of FY22, DXC has repurchased 54 million shares for a total of $1.6 billion returned to shareholders
– Retired 21% of the outstanding shares at the beginning of FY22
– ~$800M left to complete in the program announced on our Q4 FY23 earnings call, which will retire an additional
15% of current shares outstanding at the current share price
* Shares outstanding are diluted shares outstanding at the end of FY21 (256.9M).

16
Q2 FY24 Outlook

YoY Organic Adjusted Non-GAAP

Revenue Growth EBIT Margin Diluted EPS

(5.5%) – (4.5%) 6.5% – 7.0% $0.65 – $0.70

Note: Fx rates for guidance: Euro $1.11, Sterling $1.28, and AUD $0.68.

17
Updated FY24 Outlook

YoY Organic Adjusted Non-GAAP

Free Cash Flow
Revenue Growth EBIT Margin Diluted EPS

(4.0%) – (3.0%) 7.0% – 7.5% $3.15 – $3.40 $800M

Note: Fx rates for guidance: Euro $1.11, Sterling $1.28, and AUD $0.68.

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1 GBS: A high-quality growth business and will change overall revenue mix
Higher-margin GBS will be the majority of DXC revenue by end of FY24

2 GIS: Still confident that we can stabilize

Security is solid; taking strategic actions in Cloud/ITO and Modern Workplace

3 Making improvements to be more competitive

New senior talent and offering-led operating model

4 Financial analytics to deliver predictable and repeatable results

Managing areas we can control well, like free cash flow and restructuring and TSI

5 Capital deployment due to value creation

Generating $800M in FCF, $1B Share Repo; committed to investment-grade credit profile

19
Supplemental Information

Q1 FY24 Quarterly Result Details

Non-GAAP Reconciliations

Definitions

21
Organic Revenue Growth and Backlog
GBS ($M) Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24
GBS revenue 1,758 1,713 1,738 1,751 6,960 1,703
YoY GBS revenue growth (6.8%) (8.5%) (10.7%) (7.5%) (8.4%) (3.1%)
Foreign currency 5.9% 7.4% 6.4% 3.8% 5.9% 0.8%
Acquisitions and divestitures 3.7% 4.5% 4.5% 7.0% 4.9% 5.6%
YoY GBS organic revenue growth 2.8% 3.4% 0.2% 3.3% 2.4% 3.3%
GBS bookings ($B) 1.7 1.7 2.1 1.8 7.3 1.4
GBS book-to-bill 0.98x 0.96x 1.21x 1.04x 1.05x 0.84x
GIS ($M) Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24
GIS revenue 1,949 1,853 1,828 1,840 7,470 1,743
YoY GIS revenue growth (13.5%) (14.0%) (14.7%) (13.0%) (13.8%) (10.6%)
Foreign currency 5.8% 7.5% 6.7% 4.0% 6.0% 0.7%
Acquisitions and divestitures 0.5% 0.7% 0.6% 0.5% 0.6% 0.0%
YoY GIS organic revenue growth (7.2%) (5.8%) (7.4%) (8.5%) (7.2%) (9.9%)
GIS bookings ($B) 1.5 1.3 2.7 1.9 7.4 1.7
GIS book-to-bill 0.77x 0.71x 1.46x 1.03x 0.99x 0.94x
Total ($M) Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24
GAAP revenue 3,707 3,566 3,566 3,591 14,430 3,446
Total revenue growth (10.5%) (11.4%) (12.8%) (10.4%) (11.3%) (7.0%)
Foreign currency 5.8% 7.4% 6.6% 3.9% 6.0% 0.7%
Acquisitions and divestitures 2.1% 2.5% 2.4% 3.6% 2.6% 2.7%
YoY organic revenue growth (2.6%) (1.5%) (3.8%) (2.9%) (2.7%) (3.6%)
Bookings ($B) 3.2 3.0 4.8 3.7 14.7 3.1
Book-to-bill 0.87x 0.83x 1.34x 1.04x 1.02x 0.89x

Backlog ($B) Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24

Beginning ASC 606 backlog 21.7 20.3 18.8 19.6 21.7 19.7
Less: revenue (3.7) (3.6) (3.6) (3.6) (14.5) (3.4)
Plus: bookings 3.2 3.0 4.8 3.7 14.7 3.1
Plus/minus: Fx impact (0.6) (0.8) 0.6 — (0.8) 0.2
Plus/minus: backlog adjustments & terminations (0.3) — (0.6) 0.1 (0.8) (0.2)
Plus/minus: Acquisitions & divestitures — (0.1) (0.4) (0.1) (0.6) 0.0
Ending ASC 606 backlog 20.3 18.8 19.6 19.7 19.7 19.4
Bookings less backlog adjustments & terminations 2.9 3.0 4.2 3.8 13.9 2.9

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Organic Revenue Growth and Book-to-Bill by Offering
Organic Revenue Growth (YoY) Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24
GBS 2.8% 3.4% 0.2% 3.3% 2.4% 3.3%
Analytics & Engineering 15.7% 14.0% 11.7% 8.5% 12.3% 8.8%
Applications (2.0%) (1.1%) (6.8%) (0.5%) (2.7%) (0.7%)
Insurance Software & BPS 0.3% 1.1% 3.0% 5.9% 2.6% 5.1%
Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24
GIS (7.2%) (5.8%) (7.4%) (8.5%) (7.2%) (9.9%)
Security (0.3%) (10.8%) 4.2% (0.4%) (2.1%) 6.8%
Cloud Infrastructure & ITO (4.4%) (0.9%) (5.4%) (10.5%) (5.3%) (12.7%)
Modern Workplace (16.1%) (16.9%) (15.3%) (5.3%) (13.6%) (5.0%)

Book-to-Bill Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24

GBS 0.98x 0.96x 1.21x 1.04x 1.05x 0.84x
Analytics & Engineering 1.17x 1.18x 1.15x 1.22x 1.18x 1.03x
Applications 0.86x 0.95x 1.32x 1.03x 1.04x 0.83x
Insurance Software & BPS 1.01x 0.62x 1.06x 0.75x 0.86x 0.59x
Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24
GIS 0.77x 0.71x 1.46x 1.03x 0.99x 0.94x
Security 0.92x 0.95x 1.09x 1.42x 1.10x 0.82x
Cloud Infrastructure & ITO 0.67x 0.73x 1.69x 1.10x 1.04x 1.01x
Modern Workplace 1.02x 0.59x 0.89x 0.74x 0.81x 0.77x

23
DXC Insurance Key Metrics
Total Total
(in $M) Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24
FY22 FY23
Insurance Software Revenue 120 119 121 124 484 118 116 121 140 495 129

Insurance Business Process as a Service

147 146 146 149 588 142 148 150 150 590 153
Revenue
Total Insurance SaaS Revenue 267 265 267 273 1,072 260 264 271 290 1,085 282

Business Process Services Revenue 118 118 116 112 464 108 100 99 100 407 100

Total Insurance & BPS Revenue 385 383 383 385 1,536 368 364 370 390 1,492 382

Insurance SaaS YoY Growth 5.1% 19.3% 0.6% 0.0% 5.3% -2.6% -0.4% 1.5% 6.2% 1.2% 8.5%

Total Insurance & BPS YoY Growth -5.4% -8.1% -6.6% -10.6% -7.8% -4.4% -5.0% -3.4% 1.3% -2.9% 3.8%

24
Services and Resale Revenue by Offering
Services Revenue ($M) Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24
Analytics & Engineering 496 515 523 547 2,081 537
Applications 754 725 724 750 2,953 739
Insurance Software & BPS 367 362 370 387 1,486 380
GBS 1,617 1,602 1,617 1,684 6,520 1,656
Security 99 97 98 99 393 97
Cloud Infrastructure & ITO 1,227 1,148 1,144 1,131 4,650 1,106
Modern Workplace 373 348 338 350 1,409 335
GIS 1,699 1,593 1,580 1,580 6,452 1,538

Divestitures 98 66 65 18 247 4
Total services revenue 3,414 3,261 3,262 3,282 13,219 3,198
Services revenue as a % of total revenue 92.1% 91.4% 91.5% 91.4% 91.6% 92.8%

Resale Revenue ($M) Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24
Analytics & Engineering 7 9 12 11 39 9
Applications 31 30 38 30 129 31
Insurance Software & BPS - 1 1 3 5 2
GBS 38 40 51 44 173 42
Security 6 11 14 14 45 14
Cloud Infrastructure & ITO 169 161 139 139 608 103
Modern Workplace 75 88 95 107 365 88
GIS 250 260 248 260 1,018 205

Divestitures 5 5 5 5 20 1
Total resale revenue 293 305 304 309 1,211 248
Resale revenue as a % of total revenue 7.9% 8.6% 8.5% 8.6% 8.4% 7.2%

25
Reconciliation of Segment Profit to Pretax Income
GBS ($M) Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24
Segment revenue 1,887 1,873 1,946 1,892 7,598 1,758 1,713 1,738 1,751 6,960 1,703
Segment profit 272 298 315 275 1,160 210 218 244 240 912 192
GBS profit % 14.4% 15.9% 16.2% 14.5% 15.3% 11.9% 12.7% 14.0% 13.7% 13.1% 11.3%

GIS ($M) Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24
Segment revenue 2,254 2,154 2,143 2,116 8,667 1,949 1,853 1,828 1,840 7,470 1,743
Segment profit 131 118 102 124 475 127 114 123 143 507 91
GIS profit % 5.8% 5.5% 4.8% 5.9% 5.5% 6.5% 6.2% 6.7% 7.8% 6.8% 5.2%

Total ($M) Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24
Total revenue for reportable segments 4,141 4,027 4,089 4,008 16,265 3,707 3,566 3,566 3,591 14,430 3,446
Total profit for reportable segments 403 416 417 399 1,635 337 332 367 383 1,419 283
Total segment profit margin 9.7% 10.3% 10.2% 10.0% 10.1% 9.1% 9.3% 10.3% 10.7% 9.8% 8.2%

All other (71) (70) (62) (57) (260) (78) (63) (58) (63) (262) (59)
Restructuring costs (67) (145) (36) (70) (318) (33) (53) (49) (81) (216) (20)
TSI (9) (3) (11) (3) (26) (2) (4) (6) (4) (16) (1)
Amortization of intangible assets (109) (110) (106) (109) (434) (104) (101) (100) (97) (402) (89)
Merger related indemnification — — — — — (10) — (11) (25) (46) (11)
SEC matter — — — — — — (8) — — (8) —
Gains and losses on dispositions 347 — (4) (2) 341 29 (32) (9) 202 190 (5)
Pension, actuarial & settlement losses — — (7) 691 684 — (1) — (1,430) (1,431) —
Impairment losses — (10) — (21) (31) — — (8) (11) (19) (3)
Arbitration — — — — — — — (9) (20) (29) —
Debt extinguishment costs (28) (281) (2) — (311) — — — — — —
EBIT (1) 466 (203) 189 828 1,280 139 70 117 (1,146) (820) 95
Net interest (42) (45) (23) (29) (139) (17) (16) (15) (17) (65) (17)
Income before taxes 424 (248) 166 799 1,141 122 54 102 (1,163) (885) 78

(1) Defined at end of presentation.

26
Adjusted EBIT and Adjusted EBITDA Reconciliation
EBIT to Adjusted EBIT ($M) Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24

Net income (loss) 282 (187) 102 539 736 103 28 61 (758) (566) 42

Income tax expense (benefit) 142 (61) 64 260 405 19 26 41 (405) (319) 36

Interest income (20) (16) (15) (14) (65) (20) (28) (41) (46) (135) (49)

Interest expense 62 61 38 43 204 37 44 56 63 200 66

EBIT (1) 466 (203) 189 828 1,280 139 70 117 (1,146) (820) 95

Restructuring costs 67 145 36 70 318 33 53 49 81 216 20

Transaction, separation & integration-related costs 9 3 11 3 26 2 4 6 4 16 1

Amortization of acquired intangible assets 109 110 106 109 434 104 101 100 97 402 89

Merger related indemnification — — — — — 10 — 11 25 46 11

SEC matter — — — — — — 8 — — 8 —

Impairment losses — 10 — 21 31 — — 8 11 19 3

Arbitration losses — — — — — — — 9 20 29 5

Gains and losses on disposition of businesses (347) — 4 2 (341) (29) 32 9 (202) (190) —

Pension & OPEB actuarial & settlement losses — — 7 (691) (684) — 1 — 1,430 1,431 —

Debt extinguishment costs 28 281 2 — 311 — — — — — —

Adjusted EBIT (1) 332 346 355 342 1,375 259 269 309 320 1,157 224

Depreciation and amortization 422 448 424 423 1,717 389 380 375 375 1,519 344

Less: Amortization of acquired intangible assets (109) (110) (106) (109) (434) (104) (101) (100) (97) (402) (89)

Adjusted EBITDA (1) 645 684 673 656 2,658 544 548 584 598 2,274 479

EBIT margin (1) 11.3% (5.0%) 4.6% 20.7% 7.9% 3.7% 2.0% 3.3% (31.9%) (5.7%) 2.8%

Adjusted EBIT margin (1) 8.0% 8.6% 8.7% 8.5% 8.5% 7.0% 7.5% 8.7% 8.9% 8.0% 6.5%

(1) Defined at end of presentation.

27
Non-GAAP Reconciliation – Income Statement Measures
COS, SG&A, D&A ($M) Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24
Cost of services 3,255 3,088 3,179 3,161 12,683 2,930 2,775 2,799 2,742 11,246 2,719
Less: Impairment losses — — — — — — — (8) — (8) —
Less: TSI — — — — — — — — — — —
Non-GAAP COS 3,255 3,088 3,179 3,161 12,683 2,930 2,775 2,791 2,742 11,238 2,719
As a % of revenue 78.6% 76.7% 77.7% 78.9% 78.0% 79.0% 77.8% 78.3% 76.4% 77.9% 78.9%
Non-GAAP gross profit (1) 886 939 910 847 3,582 777 791 775 849 3,192 727
As a % of revenue 21.4% 23.3% 22.3% 21.1% 22.0% 21.0% 22.2% 21.7% 23.6% 22.1% 21.1%

SG&A expense 383 370 340 315 1,408 349 324 315 387 1,375 327
Less: Impairment losses — (10) — — (10) — — — — — —
Less: SEC matter — — — — — — (8) — — (8) —
Less: Arbitration losses — — — — — — — (9) (20) (29) —
Less: Merger related indemnification — — — — — (10) — (11) (25) (46) (11)
Less: TSI (9) (3) (11) (3) (26) (2) (4) (6) (4) (16) (1)
Non-GAAP SG&A expense 374 357 329 312 1,372 337 312 289 338 1,276 315
As a % of revenue 9.0% 8.9% 8.0% 7.8% 8.4% 9.1% 8.8% 8.1% 9.4% 8.8% 9.1%

Depreciation 158 165 156 146 625 138 129 123 129 519 113
Amortization 264 283 268 277 1,092 251 251 252 246 1,000 231
Total depreciation & amortization 422 448 424 423 1,717 389 380 375 375 1,519 344
Less: Amortization of acquired intangible assets (109) (110) (106) (109) (434) (104) (101) (100) (97) (402) (89)
Non-GAAP depreciation & amortization 313 338 318 314 1,283 285 279 275 278 1,117 255
As a % of revenue 7.6% 8.4% 7.8% 7.8% 7.9% 7.7% 7.8% 7.7% 7.7% 7.7% 7.4%

Other income, net (103) (102) (85) (791) (1,081) (104) (68) (98) 1,354 1,084 (64)
Less: Gains and losses on disposition of businesses (30) — — — (30) — — — — — —
Less: Impairment losses — — — (21) (21) — — — (11) (11) (3)
Less: Pension & OPEB actuarial & settlement losses — — (7) 691 684 — (1) — (1,430) (1,431) —
Non-GAAP other income (133) (102) (92) (121) (448) (104) (69) (98) (87) (358) (67)
As a % of revenue (3.2%) (2.5%) (2.2%) (3.0%) (2.8%) (2.8%) (1.9%) (2.8%) (2.4%) (2.5%) (1.9%)

(1) Defined at end of presentation.

28
 Supplemental Financial
Information

Non-GAAP Reconciliation – Income Statement Measures

EBIT to EPS (in $M, except EPS) Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24
Adjusted EBIT 332 346 355 342 1,375 259 269 309 320 1,157 224
Interest expense 62 61 38 43 204 37 44 56 63 200 66
Interest income (20) (16) (15) (14) (65) (20) (28) (41) (46) (135) (49)
Net interest 42 45 23 29 139 17 16 15 17 65 17
Non-GAAP income before income taxes 290 301 332 313 1,236 242 253 294 303 1,092 207

Income tax expense 142 (61) 64 260 405 19 26 41 (405) (319) 36

As % of pre-tax income 33.5% 24.6% 38.6% 32.5% 35.5% 15.6% 48.1% 40.2% 34.8% 36.0% 46.2%
Tax impact of restructuring 10 34 4 17 65 8 10 10 16 44 5
Tax impact of TSI 4 1 1 1 7 — 1 1 1 3 —
Tax impact of amortization 24 26 13 27 90 24 18 20 19 81 21
Tax impact of merger related indemnification — — — — — 2 — 2 27 31 11
Tax impact of SEC matter — — — — — — 1 — — 1 —
Tax impact of arbitration losses — — — — — — — 2 (3) (1) —
Tax impact of gain/loss on dispositions (91) — — (13) (104) 9 22 (7) 1 25 —
Tax impact of impairment losses — 2 — 5 7 — — 1 3 4 1
Tax impact of other (21) 66 11 (197) (141) — — — 411 411 (3)
Non-GAAP income tax expense 68 68 93 100 329 62 78 70 70 280 71
As % of Non-GAAP pre-tax income 23.4% 22.6% 28.0% 31.9% 26.6% 25.6% 30.8% 23.8% 23.1% 25.6% 34.3%

Net income (loss) 282 (187) 102 539 736 103 28 61 (758) (566) 42
Less: Net income attributed to NCI 4 1 4 9 18 1 1 2 (2) 2 6
Net income (loss) attributable to DXC 278 (188) 98 530 718 102 27 59 (756) (568) 36

GAAP EPS (basic) $ 1.09 $ (0.74) $ 0.39 $ 2.18 $ 2.87 $ 0.44 $ 0.12 $ 0.26 $ (3.38) $ (2.48) $ 0.17
GAAP EPS (diluted) $ 1.07 $ (0.74) $ 0.38 $ 2.14 $ 2.81 $ 0.43 $ 0.12 $ 0.25 $ (3.38) $ (2.48) $ 0.17

Shares outstanding (basic) 254.7 252.4 250.3 242.7 250.0 232.5 230.0 229.5 223.9 229.0 210.1
Shares outstanding (diluted) 260.3 252.4 254.8 247.7 255.2 237.4 233.2 233.0 223.9 229.0 213.8

29
Non-GAAP Reconciliation – EPS
Non-GAAP EPS (in $M, except EPS) Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24

Net income (loss) attributable to DXC 278 (188) 98 530 718 102 27 59 (756) (568) 36

Restructuring costs 57 11 32 53 253 25 43 39 65 172 15

TSI 5 2 10 2 19 2 3 5 3 13 1

Amortization of acquired intangible assets 85 84 93 82 344 80 83 80 78 321 68

Merger related indemnification — — — — — 8 — 9 (2) 15 —

SEC matter — — — — — — 7 — — 7 —

Arbitration losses — — — — — — — 7 23 30 —

Impairment losses — 8 — 16 24 — — 7 8 15 6

Gains and losses on disposition of businesses (256) — 4 15 (237) (38) 10 16 (203) (215) 5

Debt extinguishment costs 21 215 2 — 238 — — — — — —

Pension & OPEB actuarial & settlement gains and
— — 6 (514) (508) — 1 — 1,137 1,138 —
losses
Tax adjustment 28 — (10) 25 43 — — — (120) (120) 3

Non-GAAP net income attributable to DXC 218 232 235 209 894 179 174 222 233 808 134

Non-GAAP EPS (basic) $ 0.86 $ 0.92 $ 0.94 $ 0.86 $ 3.58 $ 0.77 $ 0.76 $ 0.97 $ 1.04 $ 3.53 $ 0.64

Non-GAAP EPS (diluted) (1) $ 0.84 $ 0.90 $ 0.92 $ 0.84 $ 3.50 $ 0.75 $ 0.75 $ 0.95 $ 1.02 $ 3.47 $ 0.63

Shares outstanding (basic) 254.7 252.4 250.3 242.7 250.0 232.5 230.0 229.5 223.9 229.0 210.1

Shares outstanding (diluted) 260.3 257.2 254.8 247.7 255.2 237.4 233.2 233.0 227.6 232.6 213.8

(1) EPS and per-share values of certain items may not sum to Non-GAAP diluted EPS due to rounding.

30
Non-GAAP Reconciliation – EPS
Non-GAAP EPS Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24

GAAP EPS (diluted) $ 1.07 $ (0.74) $ 0.38 $ 2.14 $ 2.81 $ 0.43 $ 0.12 $ 0.25 $ (3.38) $ (2.48) $ 0.17

Restructuring costs 0.22 0.43 0.13 0.21 0.99 0.11 0.18 0.17 0.29 0.74 0.07

TSI 0.02 0.01 0.04 0.01 0.07 0.01 0.01 0.02 0.01 0.06 —

Amortization of acquired intangible assets 0.33 0.33 0.36 0.33 1.35 0.34 0.36 0.34 0.34 1.38 0.32

Impairment losses — 0.03 — 0.06 0.09 — — 0.03 0.04 0.06 0.03

Arbitration losses — — — — — — — 0.03 0.10 0.13 —

Merger related indemnification — — — — — 0.03 — 0.04 (0.01) 0.06 —

SEC matter — — — — — — 0.03 — — 0.03 —

Gains and losses on disposition of businesses (0.98) — 0.02 0.06 (0.93) (0.16) 0.04 0.07 (0.89) (0.92) 0.02

Debt extinguishment costs 0.08 0.84 0.01 — 0.93 — — — — — —

Pension & OPEB actuarial & settlement gains and losses — — 0.02 (2.08) (1.99) — — — 5.00 4.89 —

Tax adjustment 0.11 — (0.04) 0.10 0.17 — — — (0.53) (0.52) 0.01

Non-GAAP dilution adjustment — — — — — — — — 0.05 0.04 —

Non-GAAP EPS (diluted) (1) $ 0.84 $ 0.90 $ 0.92 $ 0.84 $ 3.50 $ 0.75 $ 0.75 $ 0.95 $ 1.02 $ 3.47 $ 0.63

Shares outstanding (diluted) 260.3 257.2 254.8 247.7 255.2 237.4 233.2 233.0 227.6 232.6 213.8
(1) EPS and per-share values of certain items may not sum to Non-GAAP diluted EPS due to rounding.

31
Income Statement Drivers – Headcount
DXC Employees Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24
GBS 72,500 72,786 75,587 76,718 76,718 75,527 76,233 76,284 75,945 75,945 74,372
GIS 46,540 47,868 49,438 50,333 50,333 50,221 49,252 48,273 47,412 47,412 45,784
Other 11,314 10,655 10,512 10,078 10,078 10,293 10,263 9,478 9,448 9,448 11,760
Total Employees 130,354 131,309 135,537 137,129 137,129 136,041 135,748 134,035 132,805 132,805 131,916

Contractors Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24
GBS 5,359 5,743 5,677 5,115 5,115 4,931 4,806 5,105 4,977 4,977 4,884
GIS 11,342 10,238 9,300 8,036 8,036 7,186 6,694 6,430 6,004 6,004 5,796
Other 6,204 5,525 6,003 6,035 6,035 5,774 5,047 5,097 4,526 4,526 3,785
Total Contractors 22,905 21,506 20,980 19,186 19,186 17,891 16,547 16,632 15,507 15,507 14,465

DXC Employee Locations Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24
Onshore 45.8% 45.5% 44.4% 44.0% 44.0% 44.5% 43.7% 43.4% 43.1% 43.1% 43.3%
Offshore 54.2% 54.5% 55.6% 56.0% 56.0% 55.5% 56.3% 56.6% 56.9% 56.9% 56.7%

32
Income Statement Drivers – Other Income and Pension Income
Other Income ($M) Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24
Non-service cost components of net periodic
(97) (96) (87) (786) (1,066) (67) (60) (60) 1,367 1,180 (37)
pension income
Foreign currency (gain)/loss 1 6 3 3 13 (2) (1) (8) (4) (15) (8)
(Gain)/loss on sale of asset (46) (12) (4) (26) (88) (38) (6) (28) (18) (90) (21)
Other (gain)/loss 39 — 3 18 60 3 (1) (2) 9 9 2
Other income, net (103) (102) (85) (791) (1,081) (104) (68) (98) 1,354 1,084 (64)
Non-service cost components of net periodic
pension income adjustments
Pension & OPEB actuarial & settlement
— — (7) 691 684 — (1) — (1,430) (1,431) —
losses
Other (gain)/loss adjustments
Gains and losses on disposition of
(30) — — — (30) — — — — — —
businesses
Impairment losses — — — (21) (21) — — — (11) (11) (3)

Non-GAAP other income (133) (102) (92) (121) (448) (104) (69) (98) (87) (358) (67)

Pension Income ($M) Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24

Cost of sales/SG&A expense 23 22 22 21 88 19 18 18 18 73 15

Other (income)/expense (97) (96) (87) (786) (1,066) (67) (60) (60) 1,367 1,180 (37)
Net periodic pension income (74) (74) (65) (765) (978) (48) (42) (42) 1,385 1,253 (22)
Less: Pension & OPEB actuarial &
— — (7) 691 684 — (1) — (1,430) (1,431) —
settlement losses
Non-GAAP pension income (74) (74) (72) (74) (294) (48) (43) (42) (45) (178) (22)

33
Reconciliation – Adjusted EBIT Margin ex. Pension Income
(in $M) Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24

Revenue 4,141 4,027 4,089 4,008 16,265 3,707 3,566 3,566 3,591 14,430 3,446

Adjusted EBIT (1) 332 346 355 342 1,375 259 269 309 320 1,157 224

Less: Non-GAAP pension income (74) (74) (72) (74) (294) (48) (43) (42) (45) (178) (22)

Adjusted EBIT ex. pension income 258 272 283 268 1,081 211 226 267 275 979 202

Adjusted EBIT margin (1) 8.0% 8.6% 8.7% 8.5% 8.5% 7.0% 7.5% 8.7% 8.9% 8.0% 6.5%

Adjusted EBIT margin ex. pension income 6.2% 6.8% 6.9% 6.7% 6.6% 5.7% 6.3% 7.5% 7.7% 6.8% 5.9%

(1) Defined at end of presentation.

34
DXC Historical Balance Sheet
Assets (in $M) Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24

Cash and cash equivalents 2,460 2,699 2,919 2,672 2,672 2,209 2,260 2,091 1,858 1,858 1,576

Receivables, net 4,081 3,821 3,670 3,854 3,854 3,693 3,467 3,454 3,441 3,441 3,285

Prepaid expenses 659 534 600 617 617 666 662 653 565 565 652

Other current assets 341 330 314 268 268 270 289 218 255 255 231

Assets held for sale — — — 35 35 10 — 577 5 5 —

Total current assets 7,541 7,384 7,503 7,446 7,446 6,848 6,678 6,993 6,124 6,124 5,744

Intangible assets, net 3,888 3,691 3,575 3,378 3,378 3,117 2,884 2,741 2,569 2,569 2,441

Operating right-of-use assets, net 1,299 1,174 1,122 1,133 1,133 1,025 927 954 909 909 849

Goodwill 639 631 629 617 617 582 562 535 539 539 539

Deferred income taxes, net 238 255 259 221 221 210 205 219 460 460 512

Property and equipment, net 2,841 2,691 2,555 2,412 2,412 2,212 2,039 2,044 1,979 1,979 1,922

Other assets 4,421 4,289 4,310 4,850 4,850 4,602 4,403 4,653 3,247 3,247 3,281

Assets held for sale – non-current — — — 82 82 51 39 115 18 18 5

Total assets 20,867 20,115 19,953 20,139 20,139 18,647 17,737 18,254 15,845 15,845 15,293

35
DXC Historical Balance Sheet
Liabilities & Equity (in $M) Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24

Short term debt & current LT debt 817 745 706 900 900 904 834 873 500 500 694

Accounts payable 857 724 759 840 840 795 857 852 782 782 701

Accrued payroll and related costs 746 645 563 570 570 610 537 520 569 569 613

Current operating lease liabilities 413 392 386 388 388 346 318 320 317 317 303

Accrued expenses & other CL 3,060 3,120 3,111 2,882 2,882 2,479 2,321 1,932 1,836 1,836 1,587

Def. rev. & advance contract payments 1,032 933 1,001 1,053 1,053 938 867 969 1,054 1,054 1,008

Income taxes payable 481 260 202 197 197 181 131 166 120 120 151

Liabilities related to assets HFS — — — 23 23 4 — 538 9 9 —

Total current liabilities 7,406 6,819 6,728 6,853 6,853 6,257 5,865 6,170 5,187 5,187 5,057

LT debt, net of current maturities 4,116 4,363 4,236 4,065 4,065 3,874 3,695 3,850 3,900 3,900 3,891

Non-current deferred revenue 598 775 882 862 862 806 789 804 788 788 749

Non-current operating lease liabilities 971 862 805 815 815 742 667 691 648 648 598

Non-current pension obligations — — — 590 590 — — — 463 463 —

LT tax liabilities & deferred tax liabilities 771 711 779 994 994 919 819 784 587 587 579

Other LT liabilities 1,619 1,502 1,436 546 546 1,000 966 992 449 449 816

LT liabilities related to assets HFS — — — 39 39 — — 11 3 3 —

Total liabilities 15,481 15,032 14,866 14,764 14,764 13,598 12,801 13,302 12,025 12,025 11,690

Total equity 5,386 5,083 5,087 5,375 5,375 5,049 4,936 4,952 3,820 3,820 3,603

Total liabilities and equity 20,867 20,115 19,953 20,139 20,139 18,647 17,737 18,254 15,845 15,845 15,293

36
Net Debt and Leverage Ratios
(in $M, except ratios) Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24

Short term debt & current LT debt 817 745 706 900 900 904 834 873 500 500 694

LT debt, net of current maturities 4,116 4,363 4,236 4,065 4,065 3,874 3,695 3,850 3,900 3,900 3,891

Total debt 4,933 5,108 4,942 4,965 4,965 4,778 4,529 4,723 4,400 4,400 4,585

Less: Cash and cash equivalents (2,460) (2,699) (2,919) (2,672) (2,672) (2,209) (2,260) (2,091) (1,858) (1,858) (1,576)

Net debt 2,473 2,409 2,023 2,293 2,293 2,569 2,269 2,632 2,542 2,542 3,009

Net interest expense (1) 222 196 165 139 139 114 85 77 65 65 65

Adjusted EBITDA (1) (2) 2,653 2,681 2,693 2,658 2,658 2,557 2,421 2,332 2,274 2,274 2,209

Adjusted EBIT (1) (2) 1,244 1,307 1,362 1,375 1,375 1,302 1,225 1,179 1,157 1,157 1,122

Free cash flow (1) (2) (850) (749) 207 743 743 1,035 254 561 737 737 674

Gross debt / Adjusted EBITDA (1) 1.86x 1.91x 1.84x 1.87x 1.87x 1.87x 1.87x 2.03x 1.93x 1.93x 2.08x

Net debt / Adjusted EBITDA (1) 0.93x 0.90x 0.75x 0.86x 0.86x 1.00x 0.94x 1.13x 1.12x 1.12x 1.36x

Net debt / Free cash flow (1) (2.91x) (3.22x) 9.77x 3.09x 3.09x 2.48x 8.93x 4.69x 3.45x 3.45x 4.46x

Adjusted EBIT / Net interest expense (1) 5.60x 6.67x 8.25x 9.89x 9.89x 11.42x 14.41x 15.31x 17.80x 17.80x 17.26x

Free cash flow / Net interest expense (1) (3.83x) (3.82x) 1.25x 5.35x 5.35x 9.08x 2.99x 7.29x 11.34x 11.34x 10.37x

(1) Measures expressed on a trailing 12-month basis for comparability purposes to balance sheet measures.
(2) Defined at end of presentation.

37
DXC Working Capital Key Metrics
(in $M, except days) Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24

Billed & unbilled accounts receivable 3,205 3,053 2,905 3,065 3,065 2,852 2,724 2,689 2,635 2,635 2,573

Revenue 4,141 4,027 4,089 4,008 16,265 3,707 3,566 3,566 3,591 14,430 3,446

One day of sales 46 44 45 44 45 41 39 39 39 40 38

Days sales outstanding (DSO) 70 69 65 70 69 70 70 69 67 67 68

Total cost of sales & SG&A expense 3,638 3,458 3,519 3,476 14,091 3,279 3,099 3,114 3,129 12,621 3,046

Less: Payroll & related expense (1) (1,841) (1,747) (1,759) (1,761) (7,108) (1,747) (1,661) (1,641) (1,698) (6,747) (1,696)

Less: Other employee related expense (1) (20) (22) (23) (34) (99) (33) (26) (26) (25) (110) (26)

Cost of sales & SG&A for DPO 1,777 1,689 1,737 1,681 6,884 1,499 1,412 1,447 1,406 5,764 1,324

Accounts payable 857 724 759 840 840 795 857 852 782 782 701

One day of COS & SG&A 20 19 19 18 19 16 16 16 15 16 15

Days purchases outstanding (DPO) 44 39 40 45 45 48 55 54 51 50 48

Cash conversion cycle 26 30 25 25 24 22 15 15 16 17 20

Note: Quarterly columns may not foot precisely to the amounts reported under cash flows from operating activities in our quarterly reports on Form 10-Q and related earnings releases due to rounding; no retrospective changes were made to earlier periods.
Note: Days sales outstanding, days purchases outstanding, one day of sales calculation, and one day of COS and SG&A methodology utilizes 91-day quarters and 365-day years.
(1) Payroll and related expense plus other employee related expense are subtracted out of our cost of sales and SG&A for DPO purposes in order to reflect the company’s expense amounts that flow through accounts payable.

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DXC Cash Flows from Operating Activities
Cash Flows from Operating Activities
Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24
(in $M)
Net Income 282 (187) 102 539 736 103 28 61 (758) (566) 42

Depreciation & amortization 427 452 430 433 1,742 398 388 383 382 1,551 351
Operating right of use expense 130 124 117 113 484 106 108 97 93 404 90
Pension & other post-employment benefits — — 7 (691) (684) — — — 1,431 1,431 —
Share-based compensation 25 26 26 24 101 28 27 26 27 108 23
Deferred taxes (25) (16) 58 238 255 (38) (65) (67) (439) (609) (50)
(Gain)/loss on dispositions (414) (1) 13 (19) (421) (62) 30 (11) (217) (260) (9)
Provision for loss on A/R (3) 1 3 4 5 2 (2) — (1) (1) 2
Unrealized Fx (gain)/loss (8) (11) (1) 8 (12) 46 23 11 (72) 8 23
Impairment losses & contract write-offs — 17 4 30 51 — 21 10 16 47 7
Debt extinguishment costs 28 281 2 — 311 — — — — — —
Amortization of debt issuance costs — — — — — — — — 4 4 —
Cash surrender value — — — (24) (24) — — — (17) (17) —
Other non-cash charges, net 3 — (2) 14 15 3 (5) (1) 7 4 (2)
Changes in assets and liabilities
Receivables 99 214 88 (173) 228 7 (42) 259 188 412 91
Prepaid expenses & other current assets (73) 108 (50) (33) (48) (76) (74) 10 21 (119) (28)
Accounts payable & accruals (336) (192) (86) (100) (714) (122) (16) (171) (115) (424) (240)
Income taxes payable & tax liability 48 (243) (67) (53) (315) (35) (91) 73 (108) (161) 53
Operating lease liability (130) (124) (117) (113) (484) (106) (108) (97) (93) (404) (90)
Advance contract payment & def. revenue (80) 106 176 68 270 (80) (8) 42 57 11 (99)
Other operating activities, net (2) 8 (7) 6 5 (11) (2) — 9 (4) (37)
Cash flows from operating activities (29) 563 696 271 1,501 163 212 625 415 1,415 127

Note: Changes in assets and liabilities are aggregated and presented in our interim unaudited condensed consolidated statements of cash flows as three line items: “Decrease (increase) in assets,” “Decrease in operating lease liability,” and “Decrease in other
liabilities.” The above table disaggregates the three line items on a basis consistent with the presentation in our annual audited financial statements for discussion and analysis purposes only.
Note: Quarterly columns may not foot precisely to the amounts reported under cash flows from operating activities in our quarterly reports on Form 10-Q and related earnings releases due to rounding; no retrospective changes were made to earlier periods.

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DXC Key Cash Flow Drivers
(in $M) Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24

Payments on finance leases & borrowings for asset

(494) (177) (184) (135) (990) (159) (115) (125) (112) (511) (131)
financing

Less: Originations

Capital expenditures through financing lease obligations 71 43 66 53 233 26 18 29 29 102 17

Investing assets acquired under long-term financing 35 9 — — 44 2 4 — 19 25 27

Operating assets acquired under long-term financing 111 — — (4) 107 34 3 37 32 106 4

Total origination 217 52 66 49 384 62 25 66 80 233 48

Capital lease & asset financing debt

(277) (125) (118) (86) (606) (97) (90) (59) (32) (278) (83)
accumulation/(paydown)

Purchases of property & equipment (98) (67) (52) (37) (254) (68) (78) (66) (55) (267) (55)

Payments for transition & transformation contract costs (55) (52) (45) (57) (209) (57) (57) (52) (57) (223) (62)

Software purchased & developed (122) (40) (49) (84) (295) (50) (60) (44) (34) (188) (85)

Total capital expenditures (275) (159) (146) (178) (758) (175) (195) (162) (146) (678) (202)

Capital lease originations & capex as a %

11.9% 5.2% 5.2% 5.7% 7.0% 6.4% 6.2% 6.4% 6.3% 6.3% 7.3%
of revenue

Payments on operating lease liabilities (130) (124) (117) (113) (484) (106) (108) (97) (93) (404) (90)

Less: ROU assets obtained for operating leases, net 52 17 61 149 279 55 62 76 34 227 23

Operating lease accumulation/(paydown) (78) (107) (56) 36 (205) (51) (46) (21) (59) (177) (67)

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DXC Cash Flow Drivers
(in $M) Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24

Cash paid for restructuring (115) (86) (78) (75) (354) (48) (63) (43) (52) (206) (43)

Cash paid for TSI (1) (9) (3) (11) (3) (26) (2) (4) (6) (4) (16) (1)

Total cash paid for restructuring & TSI (124) (89) (89) (78) (380) (50) (67) (49) (56) (222) (44)

Interest expense (62) (61) (38) (43) (204) (37) (44) (56) (63) (200) (66)

Interest income 20 16 15 14 65 20 28 41 46 135 49

Net interest expense (42) (45) (23) (29) (139) (17) (16) (15) (17) (65) (17)

Cash paid for taxes on income, net of refunds (52) (222) (52) (68) (394) (53) (177) (59) (119) (408) (52)

(1) Cash paid for Transaction, Separation and Integration-Related Costs was presented on a cash basis through Q4 FY21, as the company tracked the cash outflows for the purposes of reporting a Non-GAAP adjusted free cash flow metric, which was

discontinued in FY21. Beginning in Q1 FY22, TSI quarterly expense is presented as equivalent to the cash paid for TSI as the differences between the two metrics are deemed immaterial.

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DXC Free Cash Flow
Free Cash Flow (in $M) Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Total FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Total FY23 Q1 FY24

Cash flows from operating activities (29) 563 696 271 1,501 163 212 625 415 1,415 127

Less capex

Purchase of property & equipment (98) (67) (52) (37) (254) (68) (78) (66) (55) (267) (55)

Payments for transition & transformation contract costs (55) (52) (45) (57) (209) (57) (57) (52) (57) (223) (62)

Software purchased & developed (122) (40) (49) (84) (295) (50) (60) (44) (34) (188) (85)

Total capex (275) (159) (146) (178) (758) (175) (195) (162) (146) (678) (202)

Free Cash Flow (304) 404 550 93 743 (12) 17 463 269 737 (75)

Additional cash information

Payments on finance leases & borrowings for asset

financing
(494) (177) (184) (135) (990) (159) (115) (125) (112) (511) (131)

Cash paid for restructuring expense (115) (86) (78) (75) (354) (48) (63) (43) (52) (206) (43)

Cash paid for interest expense (65) (90) (22) (50) (227) (22) (52) (41) (73) (188) (51)

Cash paid for taxes on income, net of refunds (52) (222) (52) (68) (394) (53) (177) (59) (119) (408) (52)

Business dispositions 513 — 6 14 533 (36) 87 1 (199) (147) (7)

Proceeds from sale of assets 67 20 8 5 100 14 95 56 6 171 11

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Q1 FY24 Non-GAAP Reconciliation: Organic Revenue – Offerings
Insurance Software
Analytics & Cloud Infrastructure Acquisitions &
(in $M) Applications & Business Process Security Modern Workplace Total
Engineering & IT Outsourcing Divestitures
Services (BPS)

Revenue 546 770 382 111 1,209 423 5 $ 3,446

Prior-year revenue 503 785 367 105 1,396 448 103 3,707

YoY change $ $ 43 $ (15) $ 15 $ 6 $ (187) $ (25) $ (98) $ (261)

YoY change %

Revenue 8.5% (1.9%) 4.1% 5.7% (13.4%) (5.6%) - (7.0%)

Foreign currency 0.3% 1.2% 1.0% 1.1% 0.7% 0.6% - 0.7%

Acquisitions & divestitures - - - - - - - 2.7%

Organic revenue growth/(decline) % 8.8% (0.7%) 5.1% 6.8% (12.7%) (5.0%) - (3.6%)

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Currency Impact

Quarterly averages Q1 Q2 Q3 Q4 Q1 YoY Spot Q2 Q3 Q4

FY24E
(US$ per currency) FY23 FY23 FY23 FY23 FY24 Change 7/20/23 FY24E FY24E FY24E

Euro 1.07 1.01 1.02 1.07 1.09 2% 1.11 10% 9% 4% 7%

Pound sterling 1.26 1.18 1.17 1.22 1.25 0% 1.28 9% 9% 6% 6%

Australian dollar 0.72 0.68 0.66 0.68 0.67 (7%) 0.68 (1%) 3% (1%) (1%)

Currency impact on
(5.8%) (7.4%) (6.6%) (3.9%) (0.7%)
revenue

Revenue impact @ 7/20/23 spot 3.6% 4.1% 1.8% 2.1%

Prior view @ 5/8/23 spot 3.3% 3.7% 1.3% 2.0%

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Non-GAAP and Other Definitions
Segment profit: Segment revenue less costs of services, segment selling, general and administrative, depreciation and amortization, and other income, excluding the
movement in foreign currency exchange rates on our foreign currency denominated assets and liabilities and the related economic hedges, restructuring costs, transaction,
separation and integration-related costs, amortization of acquired intangible assets, pension and OPEB actuarial and settlement losses and gain on disposition of
businesses
Segment profit margin: Segment profit as a percentage of segment revenue
Earnings before interest and taxes (EBIT): Net income (loss) less income from discontinued operations, net of taxes, interest expense, interest income, and income tax
expense (benefit)
Earnings before interest, taxes, depreciation and amortization (EBITDA): Net income (loss) less income from discontinued operations, net of taxes, interest expense,
interest income, income tax expense (benefit), depreciation, and amortization
EBIT margin: EBIT as a percentage of revenue
Adjusted EBIT: EBIT excluding restructuring costs, merger related indemnification expense, debt extinguishment costs, transaction, separation and integration-related
costs, amortization expense related to acquired intangible assets, pension and OPEB actuarial and settlement losses, gain on disposition of businesses, and impairments
Adjusted EBIT margin: Adjusted EBIT as a percentage of revenue
Adjusted EBITDA: EBITDA excluding restructuring costs, merger related indemnification expense, debt extinguishment costs, transaction, separation and integration-
related costs, pension and OPEB actuarial and settlement losses, gain on disposition of businesses, and impairments
Adjusted EBITDA margin: Adjusted EBITDA as a percentage of revenue
Free cash flow: Cash flows from operating activities excluding capital expenditures for property and equipment, transition and transformation contract costs, and software
purchased and developed
Capital expenditure: Equal to the sum of purchases of property, equipment, and software, and payments on transition and transformation costs, less proceeds from sales
of assets
Organic revenue: Excludes the impacts of acquisitions and divestitures from financial results on a constant currency basis
Organic revenue growth: Calculated by dividing the current period change in organic revenues by GAAP revenues reported in the prior comparable period
Non-GAAP gross profit: Revenue less Non-GAAP cost of sales
Net debt: Short-term debt plus long-term debt and current maturities of long-term debt, less cash and cash equivalents 45
Non-GAAP Adjustments
Our Non-GAAP adjustments include:
• Restructuring costs: Includes costs, net of reversals, related to workforce and real estate optimization and other similar charges.

• Transaction, separation and integration-related (“TSI”) costs: Includes costs related to integration, separation, planning, financing and advisory fees and other similar charges associated with
mergers, acquisitions, strategic investments, joint ventures, and dispositions and other similar transactions incurred within one year of such transactions closing, except for costs associated with
related disputes, which may arise more than one year after closing.

• Amortization of acquired intangible assets: Includes amortization of intangible assets acquired through business combinations.

• Pension and OPEB actuarial and settlement gains and losses: Pension and OPEB actuarial mark to market adjustments and settlement gains and losses.

• Merger related indemnification: Represents liability to HPE for indemnification on certain matters pursuant to the HPES merger.

• SEC matter: Represents the company’s current estimate of potential liability related to a previously disclosed investigation into its historical determination and disclosure of certain “transaction,
separation, and integration-related costs” as part of the company’s Non-GAAP adjustments.

• Gains and losses on dispositions: Gains and losses related to dispositions of businesses, strategic assets and interests in less than wholly owned entities.

• Arbitration loss: Reflects losses arising from arbitration decisions in the third and fourth quarters of fiscal 2023.

• Impairment losses: Non-cash charges associated with the permanent reduction in the value of the Company’s assets (e.g. impairment of goodwill and other long-term assets including fixed assets
and impairments to deferred tax assets for discrete changes in valuation allowances). Future discrete reversals of valuation allowances are likewise excluded.

• Debt extinguishment costs: Costs associated with early retirement, redemption, repayment or repurchase of debt and debt-like items including any breakage, make-whole premium, prepayment
penalty or similar costs as well as solicitation and other legal and advisory expenses.

• Tax adjustments: Reflects discrete tax adjustments to impair or recognize certain deferred tax assets and adjustments for changes in tax legislation. Income tax expense/(benefit) of merger and
divestitures is separately computed based on the underlying transaction. Income tax expense of all other (non-discrete) Non-GAAP adjustments is computed by applying the jurisdictional tax rate to
the pre-tax adjustments on a jurisdictional basis.

46