EVERTEC, Inc.

Previous wording

The following Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) covers: (i) the results of operations for the three and six months ended June 30, 2026 and 2025 and (ii) the financial condition as of June 30, 2026. You should read the following discussion and analysis in conjunction with the audited consolidated financial statements (the “Audited Consolidated Financial Statements”) and related notes for the year ended December 31, 2025, included in the Company’s Annual Report on Form 10-K as filed with the SEC on March 2, 2026 and with the unaudited condensed consolidated financial statements (the “Unaudited Condensed Consolidated Financial Statements”) and related notes appearing elsewhere herein. This MD&A contains forward-looking statements that involve risks and uncertainties. Our actual results may differ from those indicated in the forward-looking statements. See “Forward-Looking Statements” for a discussion of the risks, uncertainties and assumptions associated with these statements.

Current wording

The following Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) covers: (i) the results of operations for the three and nine months ended September 30, 2026 and 2025 and (ii) the financial condition as of September 30, 2026. You should read the following discussion and analysis in conjunction with the audited consolidated financial statements (the “Audited Consolidated Financial Statements”) and related notes for the year ended December 31, 2025, included in the Company’s Annual Report on Form 10-K as filed with the SEC on March 2, 2026 and with the unaudited condensed consolidated financial statements (the “Unaudited Condensed Consolidated Financial Statements”) and related notes appearing elsewhere herein. This MD&A contains forward-looking statements that involve risks and uncertainties. Our actual results may differ from those indicated in the forward-looking statements. See “Forward-Looking Statements” for a discussion of the risks, uncertainties and assumptions associated with these statements.

Previous wording

Except as otherwise indicated or unless the context otherwise requires, (a) the terms “EVERTEC,” “we,” “us,” “our,” “our Company” and “the Company” refer to EVERTEC, Inc. and its subsidiaries on a consolidated basis and, (b) the term “EVERTEC Group” refers to EVERTEC Group, LLC and its predecessor entities and their subsidiaries on a consolidated basis. EVERTEC, Inc.’s subsidiaries include EVERTEC Group; EVERTEC Intermediate Holdings, LLC; EVERTEC Dominicana, SAS; Evertec Chile Holdings SpA; Evertec Chile SpA; Evertec Chile Global SpA; Evertec Chile Servicios Profesionales SpA; Paytrue S.A.; Caleidon; S.A.; Evertec Brasil Solutions Informática S.A. ("EVERTEC BR"); EVERTEC Panamá, S.A.; EVERTEC Costa Rica, S.A. (“EVERTEC CR”); Zunify Payments Ltda; EVERTEC Guatemala, S.A.; Evertec Colombia, SAS;, EVERTEC USA, LLC; OPG Technology Corp.; Evertec Placetopay, SAS ("PlacetoPay"); BBR Chile, SpA and BBR Perú, S.A.C.,(collectively "BBR"); Paysmart Pagamentos Eletronicos Ltda, Issuer Holding Ltda. and Issuer Instituição de Pagamentos Ltda (collectively "paySmart"); EVERTEC México Servicios de Procesamiento, S.A. de C.V.; Sinqia S.A.,Torq. Inovação Digital Ltda, Sinqia Tecnologia Ltda., Rosk Software S.A., Lote 45 Participações S.A., and Compliasset S.A. (collectively "Sinqia"); Grandata, LLC, Grandata Mexico, S.A. de C.V., Grandata USA, LLC and Big Data Analytics SA (collectively "Grandata"); Nubity S.R.L., Nubity LLC. and Nubity Cloud, S.A.P.I. de C.V. (collectively "Nubity"), Tecnobank Tecnologia Bancária S.A. (“Tecnobank”); and Dimensa Ltda., Quiver Desenvolvimento Tecnologia Ltda., Quiver Soluções de Tecnologia Ltda.., RBM Web Sistemas Inteligentes Ltda. and Agger S.A. (collectively “Dimensa”). Neither EVERTEC nor EVERTEC Intermediate Holdings, LLC conducts any operations other than with respect to its indirect or direct ownership of EVERTEC Group.

Current wording

Except as otherwise indicated or unless the context otherwise requires, (a) the terms “EVERTEC,” “we,” “us,” “our,” “our Company” and “the Company” refer to EVERTEC, Inc. and its subsidiaries on a consolidated basis and, (b) the term “EVERTEC Group” refers to EVERTEC Group, LLC and its predecessor entities and their subsidiaries on a consolidated basis. EVERTEC, Inc.’s subsidiaries include EVERTEC Group; EVERTEC Intermediate Holdings, LLC; EVERTEC Dominicana, SAS; Evertec Chile Holdings SpA; Evertec Chile SpA; Evertec Chile Global SpA; Evertec Chile Servicios Profesionales SpA; Paytrue S.A.; Caleidon; S.A.; Evertec Brasil Solutions Informática S.A. ("EVERTEC BR"); EVERTEC Panamá, S.A.; EVERTEC Costa Rica, S.A. (“EVERTEC CR”); Zunify Payments Ltda; EVERTEC Guatemala, S.A.; Evertec Colombia, SAS;, EVERTEC USA, LLC; OPG Technology Corp.; Evertec Placetopay, SAS ("PlacetoPay"); BBR Chile, SpA and BBR Perú, S.A.C.,(collectively "BBR"); Paysmart Pagamentos Eletronicos Ltda, Issuer Holding Ltda. and Issuer Instituição de Pagamentos Ltda (collectively "paySmart"); EVERTEC México Servicios de Procesamiento, S.A. de C.V.; Sinqia S.A.,Torq. Inovação Digital Ltda, Sinqia Tecnologia Ltda., Rosk Software S.A., Lote 45 Participações S.A., and Compliasset S.A. (collectively "Sinqia"); Grandata, LLC, Grandata Mexico, S.A. de C.V., Grandata USA, LLC and Big Data Analytics SA (collectively "Grandata"); Nubity S.R.L., Nubity LLC. and Nubity Cloud, S.A.P.I. de C.V. (collectively "Nubity"), Tecnobank Tecnologia Bancária S.A. (“Tecnobank”); Dimensa Ltda., Quiver Desenvolvimento Tecnologia Ltda., Quiver Soluções de Tecnologia Ltda.., RBM Web Sistemas Inteligentes Ltda. and Agger S.A. (collectively “Dimensa”); and Connecting Blocks Consultoria, S.A. ("BBChain"). Neither EVERTEC nor EVERTEC Intermediate Holdings, LLC conducts any operations other than with respect to its indirect or direct ownership of EVERTEC Group.

Previous wording

EVERTEC is a leading full-service transaction-processing business and financial technology provider in Latin America, Puerto Rico and the Caribbean, providing a broad range of merchant acquiring, payment services and business solutions. We believe we are one of the largest merchant acquirers in Latin America based on total number of transactions and we also believe we are the largest merchant acquirer in the Caribbean. We serve 26 countries out of 24 offices, including our headquarters in Puerto Rico. We own and operate the ATH network, which we believe is one of the leading debit networks in Latin America. We process over ten billion transactions annually through a system of electronic payment networks in Puerto Rico and Latin America and provide a comprehensive suite of services for core banking, cash processing, fulfillment in Puerto Rico and a “one-stop shop” set of products for the financial sector in Latin America, which include solutions such as core banking, investments, asset management, pension funds, consortium and insurance. Additionally, we offer managed services, managed security services and payment transactions fraud monitoring to all the regions where we do business. We serve a diversified customer base of leading financial institutions, merchants, corporations, and government agencies with “mission-critical” technology solutions that enable them to issue, process and accept transactions securely. We believe our business is well-positioned to continue to expand across the fast-growing Latin America region.

Current wording

EVERTEC is a leading full-service transaction-processing business and financial technology provider in Latin America, Puerto Rico and the Caribbean, providing a broad range of merchant acquiring, payment services and business solutions. We believe we are one of the largest merchant acquirers in Latin America based on total number of transactions and we also believe we are the largest merchant acquirer in the Caribbean. We serve 29 countries and territories out of 20 offices, including our headquarters in Puerto Rico. We own and operate the ATH network, which we believe is one of the leading debit networks in Latin America. We process over ten billion transactions annually through a system of electronic payment networks in Puerto Rico and Latin America and provide a comprehensive suite of services for core banking, cash processing, fulfillment in Puerto Rico and a “one-stop shop” set of products for the financial sector in Latin America, which include solutions such as core banking, investments, asset management, pension funds, consortium and insurance. Additionally, we offer managed services, managed security services and payment transactions fraud monitoring to all the regions where we do business. We serve a diversified customer base of leading financial institutions, merchants, corporations, and government agencies with “mission-critical” technology solutions that enable them to issue, process and accept transactions securely. We believe our business is well-positioned to continue to expand across the fast-growing Latin America region.

Previous wording

A&R ISO Agreement, which defines our merchant acquiring relationship with Popular, now includes revenue sharing provisions with Popular. The MSA modifications also include the elimination of the exclusivity requirement, the inclusion of annual MSA minimums through September 30, 2028, a 10% discount on certain MSA services which began in October of 2025 and adjustments to the CPI pricing escalator clause. On the same date, we also sold to Popular certain assets in exchange for 4.6 million shares of EVERTEC common stock owned by Popular (collectively with the contract amendments, the "Popular Transaction"). On August 15, 2022, through a secondary offering, Popular sold its remaining shares of EVERTEC common stock. EVERTEC is no longer deemed a subsidiary of Popular under the Bank Holding Company Act. Popular continues to be the Company’s largest customer and for the six months ended June 30, 2026 approximately 25% of our revenues were generated from this relationship.

Current wording

A&R ISO Agreement, which defines our merchant acquiring relationship with Popular, now includes revenue sharing provisions with Popular. The MSA modifications also include the elimination of the exclusivity requirement, the inclusion of annual MSA minimums through September 30, 2028, a 10% discount on certain MSA services which began in October of 2025 and adjustments to the CPI pricing escalator clause. On the same date, we also sold to Popular certain assets in exchange for 4.6 million shares of EVERTEC common stock owned by Popular (collectively with the contract amendments, the "Popular Transaction"). On August 15, 2022, through a secondary offering, Popular sold its remaining shares of EVERTEC common stock. EVERTEC is no longer deemed a subsidiary of Popular under the Bank Holding Company Act. Popular continues to be the Company’s largest customer and for the nine months ended September 30, 2026 approximately 24% of our revenues were generated from this relationship.

Previous wording

Cost of revenues, exclusive of depreciation and amortization, for the three months ended June 30, 2026 amounted to $124.2 million, an increase of $14.2 million or 13% when compared to the same period in the prior year. This increase was driven by the increase in revenue, primarily driven by higher personnel costs and professional fees related to the acquisitions completed in the current quarter and in the prior year, as well as higher cloud expenses.

Current wording

Cost of revenues, exclusive of depreciation and amortization, for the three months ended September 30, 2026 amounted to $131.0 million, an increase of $6.3 million or 5% when compared to the same period in the prior year. This increase was driven by the increase in revenue, primarily driven by higher personnel costs and professional fees related to the acquisitions completed in the current and prior year, as well as higher technology expenses mainly cloud expenses. This increase was partially offset by the accrual associated with contractual claims related to client losses from the Pix incident in Brazil recognized in the prior year period.

Previous wording

Selling, general and administrative expenses for the three months ended June 30, 2026 amounted to $57.3, an increase of $22.2 million or 63% when compared to the same period in the prior year. This increase was mainly driven by higher professional fees and personnel costs related to the acquisitions completed in the current quarter and in the prior year, coupled with higher equipment expenses and costs related to the cybersecurity incident response and remediation activities.

Current wording

Selling, general and administrative expenses for the three months ended September 30, 2026 amounted to $57.7, an increase of $20.0 million or 53% when compared to the same period in the prior year. This increase was mainly driven by higher professional fees and personnel costs related to the acquisitions completed in the current and prior year, coupled with higher technology expenses.

Previous wording

Depreciation and amortization expense for the three months ended June 30, 2026 amounted to $40.0 million, an increase of $11.7 million or 41% when compared to the same period in the prior year. The increase was primarily driven by the amortization of intangible assets recognized in the recent acquisitions.

Current wording

Depreciation and amortization expense for the three months ended September 30, 2026 amounted to $43.6 million, an increase of $15.2 million or 53% when compared to the same period in the prior year. The increase was primarily driven by the amortization of intangible assets recognized in the acquisitions completed in the current and prior year.

Previous wording

Non-operating expenses for the three months ended June 30, 2026 increased by $15.0 million to $26.1 million when compared to the same period in the prior year. The increase was mainly related to an impairment loss of $8.9 million related to an Investment in equity investee, an increase in foreign currency remeasurement loss of $2.0 million and an increase in interest expense of $3.5 million resulting from the increased debt raised to finance the Dimensa and Tecnobank acquisitions, partially offset by an increase in interest income of $0.6 million.

Current wording

Non-operating expenses for the three months ended September 30, 2026 increased by $11.3 million to $15.6 million when compared to the same period in the prior year. The increase was primarily attributable to an increase in interest expense of $5.0 million resulting from the increased debt raised to finance the Dimensa and Tecnobank acquisitions and a $6.2 million decrease in other income, net as the prior year period reflected a $5.7 million net gain on the sale of research and development tax credits.

Previous wording

Income tax expense for the six months ended June 30, 2026 amounted to $24.5 million, compared to $8.2 million in the prior period. The effective tax rate for the period was 43.7%, compared with 10.0% in the prior year period. The increase in the effective tax rate was primarily driven by the same factors explained for above in the quarter.

Current wording

Income tax expense for the three months ended September 30, 2026 amounted to $3.6 million, compared to a modest income tax benefit in the prior period. The effective tax rate for the period was 10.1%, compared with (0.1)% in the prior year period. The increase in the effective tax rate was primarily attributed to the growth in Latin America jurisdictions, which have higher tax rates. These increases were partially offset by the incremental tax deductions associated with contractual claims related to client losses from the Pix incident in Brazil, as well as the recognition of a non-taxable gain from the sale of research and development tax credits recorded during the prior year period.

Previous wording

Total revenue for the three months ended June 30, 2026 was $274.8 million, an increase of 20% compared with $229.6 million in the prior year quarter driven by organic growth across most of the Company's segments, contributions from the recent acquisitions completed in the current and prior year and favorable foreign currency fluctuations. Merchant acquiring revenue benefited from higher sales volume, higher non-transactional revenues and an improvement in spread. Payments Puerto Rico revenue benefited from higher POS transactions and growth in ATH Movil, primarily in ATH Business, as well as a non-recurring volume-based benefit recognized during the quarter. Latin America revenue benefited from the contributions of recent acquisitions, and continued organic growth across the region. Revenue also benefited from foreign currency exchange rate fluctuations of $9.1 million, primarily in Brazil. Business Solutions revenue contracted mainly as a result of the 10% discount to Popular that came into effect in the fourth quarter of 2025.

Current wording

Total revenue for the nine months ended September 30, 2026 was $805.7 million, an increase of 17% compared with $687.0 million in the prior year period driven by organic growth across most of the Company's segments, contributions from the recent acquisitions completed in the current and prior year and favorable foreign currency fluctuations. Merchant acquiring revenue benefited from higher sales volume and higher non-transactional revenues. Payments Puerto Rico revenue benefited from higher POS transactions and growth in ATH Movil, primarily in ATH Business, as well as a volume-based benefit recognized during the second quarter. Latin America revenue benefited from the contributions of recent acquisitions, and continued organic growth across the region. Business Solutions revenue contracted mainly as a result of the 10% discount to Popular that came into effect in the fourth quarter of 2025 and a non-recurring hardware and software sale executed in the prior year. Revenue also benefited from foreign currency exchange rate fluctuations of $21.8 million, primarily in Brazil.

Previous wording

Cost of revenues, exclusive of depreciation and amortization, for the six months ended June 30, 2026 amounted to $242.5 million, an increase of $17.8 million or 8% when compared to the same period in the prior year. This increase was driven by the same factors explained for above in the quarter.

Current wording

Cost of revenues, exclusive of depreciation and amortization, for the nine months ended September 30, 2026 amounted to $373.5 million, an increase of $24.1 million or 7% when compared to the same period in the prior year. This increase was driven by the same factors explained for above in the quarter.

Previous wording

Selling, general and administrative expenses for the six months ended June 30, 2026 amounted to $105.2 million, an increase of $33.8 million or 47% when compared to the same period in the prior year. This increase was mainly driven by the same factors explained for above in the quarter and cash payment of contingent considerations related to prior acquisitions.

Current wording

Selling, general and administrative expenses for the nine months ended September 30, 2026 amounted to $162.9 million, an increase of $53.9 million or 49% when compared to the same period in the prior year. This increase was mainly driven by the same factors explained above in the quarter, costs related to the cybersecurity incident response and remediation activities coupled with cash payment of contingent considerations related to prior acquisitions.

Previous wording

Non-operating expenses for the six months ended June 30, 2026 increased by $18.4 million to $41.7 million when compared to the same period in the prior year. The increase was primarily driven by a $9.3 million unfavorable change in earnings from equity investees, as a result of $8.9 million of impairment losses recognized during the period, a $4.9 million increase in foreign currency remeasurement losses, an increase in interest expense of $3.9 million resulting from the increased debt raised to finance the Dimensa and Tecnobank acquisitions. These increases were partially offset by an increase in interest income of $1.3 million.

Current wording

Non-operating expenses for the nine months ended September 30, 2026 increased by $29.6 million to $57.3 million when compared to the same period in the prior year. The increase was primarily driven by a $9.3 million unfavorable change in earnings from equity investees, as a result of $8.9 million of impairment losses recognized during the period, an increase in interest expense of $8.9 million resulting from the increased debt raised to finance the Dimensa and Tecnobank acquisitions, a $7.7 million decrease in other income, net as the prior year period reflected a $5.7 million net gain on the sale of research and development tax credits and a $5.1 million increase in foreign currency remeasurement losses.

Previous wording

Income tax expense for the three months ended June 30, 2026 amounted to $20.3 million, compared to $4.1 million in the prior period. The effective tax rate for the period was 74.7%, compared with 9.0% in the prior year period. This increase was primarily driven by discrete tax items, including taxes associated with a dividend distribution from a foreign subsidiary as part of the Company’s capital allocation and funding strategy used to partially fund the acquisition of Dimensa, as well as a valuation allowance recorded against capital losses generated by impairment charges related to the Company's strategic decision to exit an Investment in equity investee. This increase is also attributable to the geographic mix of taxable income, including a larger proportion of income generated in higher tax rate foreign jurisdictions, as compared with Puerto Rico.

Current wording

Income tax expense for the nine months ended September 30, 2026 amounted to $28.1 million, compared to $8.2 million in the prior period. The effective tax rate for the period was 30.8%, compared with 7.1% in the prior year period. The increase is primarily driven by discrete tax items, including taxes associated with a dividend distribution from a foreign subsidiary as part of the Company’s capital allocation and funding strategy used to partially fund the acquisition of Dimensa, as well as a valuation allowance recorded against capital losses generated by impairment charges related to the Company's strategic decision to exit an Investment in equity investee. This increase is also attributable to the geographic mix of taxable income, including a larger proportion of income compared to the prior year period generated in higher tax rate in Latin America jurisdictions, as compared with Puerto Rico.

Previous wording

The Payment Services - Puerto Rico & Caribbean segment revenues are comprised of revenues related to providing access to the ATH debit network and other card networks to financial institutions, including related services such as authorization, processing, management and recording of ATM and POS transactions, and ATM management and monitoring. The segment revenues also include revenues from card processing services (such as credit and debit card processing, authorization and settlement and fraud monitoring and control to debit or credit issuers), payment processing services (such as payment and billing products for merchants, businesses and financial institutions), ATH Movil (person-to-person) and ATH Business (person-to-merchant) digital transactions and EBT (which principally consist of services to the government of Puerto Rico for the delivery of benefits to participants). For ATH debit network and processing services, revenues are primarily driven by the number of transactions processed. Revenues are derived primarily from network fees, transaction switching and processing fees, and the leasing of POS devices. For card issuer processing, revenues are primarily dependent upon the number of cardholder accounts on file, transactions and authorizations processed, the number of cards embossed and other processing services. For EBT services, revenues are primarily derived from the number of beneficiaries on file.

Current wording

The Payment Services - Puerto Rico & Caribbean segment revenues are comprised of revenues related to providing access to the ATH debit network and other card networks to financial institutions, including related services such as authorization, processing, management and recording of ATM and POS transactions, and ATM management and monitoring. The segment revenues also include revenues from card processing services (such as credit and debit card processing, authorization and settlement and fraud monitoring and control to debit or credit issuers), payment processing services (such as payment and billing products for merchants, government entities, businesses and financial institutions), ATH Movil (person-to-person) and ATH Business (person-to-merchant) digital transactions and EBT (which principally consist of services to the government of Puerto Rico for the delivery of benefits to participants). For ATH debit network and processing services, revenues are primarily driven by the number of transactions processed. Revenues are derived primarily from network fees, transaction switching and processing fees, and the leasing of POS devices. For card issuer processing, revenues are primarily dependent upon the number of cardholder accounts on file, transactions and authorizations processed, the number of cards embossed and other processing services. For EBT services, revenues are primarily derived from the number of beneficiaries on file.

Previous wording

Expense information that is regularly provided to the CODM on a consolidated financial statement basis includes personnel costs, professional fees, equipment expenses and cost of sales, adjusted primarily for the impact of share-based compensation, restructuring related expenses, and fees and expenses from corporate transactions such as M&A activity and financing.

Current wording

Expense information that is regularly provided to the CODM on a consolidated financial statement basis includes personnel costs, professional fees, technology expenses and cost of sales, adjusted primarily for the impact of share-based compensation, restructuring related expenses, and fees and expenses from corporate transactions such as M&A activity and financing.

Previous wording

Payment Services - Puerto Rico & Caribbean segment revenues for the three months ended June 30, 2026 increased by $4.4 million to $60.9 million when compared to the same period in the prior year. The increase in revenues was primarily driven by higher POS revenues driven by transaction growth, the continued strength in ATH Movil, primarily ATH Business coupled with higher vehicle registration and fine processing fees and a non-recurring volume-based benefit recognized during the quarter. Segment Adjusted EBITDA increased by $3.9 million to $36.9 million, driven by revenue growth, partially offset by higher cloud expenses.

Current wording

Payment Services - Puerto Rico & Caribbean segment revenues for the three months ended September 30, 2026 increased by $4.9 million to $60.1 million when compared to the same period in the prior year. The increase in revenues was primarily driven by higher POS revenues driven by transaction growth, the continued strength in ATH Movil, primarily ATH Business coupled with higher vehicle registration and fine processing fees and higher revenue from services provided to the Latin America Payments and Solutions and Merchant Acquiring segments. Segment Adjusted EBITDA increased by $4.3 million to $34.2 million, driven by revenue growth, partially offset by a one-time operational loss as well as higher cloud expenses.

Previous wording

Latin America Payments and Solutions segment revenues for the three months ended June 30, 2026 increased by $44.8 million to $130.9 million when compared to the same period in the prior year, driven by the contribution from the acquisitions completed in the prior and current year and the continued organic growth across the region. Revenue also benefited from favorable foreign currency exchange rate fluctuations of $9.1 million, primarily in Brazil. Segment Adjusted EBITDA increased by $16.3 million to $39.7 million, primarily driven by the increase in revenue partially offset by higher personnel costs resulting from incremental headcount across the region, cloud expenses and higher professional fees.

Current wording

Latin America Payments and Solutions segment revenues for the three months ended September 30, 2026 increased by $53.2 million to $143.6 million when compared to the same period in the prior year, driven by the contribution from the acquisitions completed in the prior and current year and the continued organic growth across the region. Revenue also benefited from favorable foreign currency exchange rate fluctuations of $6.0 million, primarily in Brazil. Segment Adjusted EBITDA increased by $18.8 million to $43.2 million, primarily driven by the increase in revenue, partially offset by higher personnel costs resulting from incremental headcount across the region and higher cloud expenses.

Previous wording

Merchant Acquiring segment revenues for the three months ended June 30, 2026 increased by $5.0 million to $52.3 million when compared to the same period in the prior year. The revenue increase was primarily driven by higher sales volume, higher non-transactional revenues, as well as an improvement in spread. Segment Adjusted EBITDA increased by $1.8 million to $21.8 million mainly driven by higher revenue growth, partially offset by higher processing costs from the Payments Puerto Rico segment.

Current wording

Merchant Acquiring segment revenues for the three months ended September 30, 2026 increased by $4.3 million to $51.0 million when compared to the same period in the prior year. The revenue increase was primarily driven by higher sales volume as well as higher non-transactional revenues, reflecting the benefit from pricing initiatives. Segment Adjusted EBITDA increased by $2.8 million to $21.4 million mainly driven by higher revenue growth, partially offset by higher processing costs from the Payments Services - Puerto Rico & Caribbean segment.

Previous wording

Business Solutions segment revenues for the three months ended June 30, 2026 decreased by $5.7 million to $58.8 million as compared to the prior year period. This decrease was primarily driven by the 10% discount to Popular that came into effect in the fourth quarter of 2025. Segment Adjusted EBITDA decreased by $3.5 million to $22.6 million as compared to the prior period primarily driven by the 10% discount to Popular partially offset by lower equipment expenses.

Current wording

Business Solutions segment revenues for the three months ended September 30, 2026 decreased by $3.1 million to $58.6 million as compared to the prior year period. This decrease was primarily driven by the 10% discount to Popular that came into effect in the fourth quarter of 2025. Segment Adjusted EBITDA decreased by $4.5 million to $20.6 million as compared to the prior period primarily driven by lower revenues, higher reserves and cloud expenses.

Previous wording

Payment Services - Puerto Rico & Caribbean segment revenues for the six months ended June 30, 2026 increased by $7.7 million to $119.3 million when compared to the same period in the prior year. The increase in revenues was primarily driven by the same factors explained for above in the quarter, as well as higher revenue from services provided to the Latin America Payments and Solutions segment. Segment Adjusted EBITDA increased by $7.2 million to $71.6 million, primarily driven by the same factors explained for above in the quarter.

Current wording

Payment Services - Puerto Rico & Caribbean segment revenues for the nine months ended September 30, 2026 increased by $12.6 million to $179.5 million when compared to the same period in the prior year. The increase in revenues was primarily driven by the same factors explained for above in the quarter, as well as a volume-based benefit recognized in the second quarter. Segment Adjusted EBITDA increased by $11.5 million to $105.8 million, primarily driven by the same factors explained for above in the quarter.

Previous wording

Latin America Payments and Solutions segment revenues for the six months ended June 30, 2026 increased by $71.4 million to $241.2 million when compared to the same period in the prior year, driven by the same factors explained for above in the quarter. Revenue also benefited from favorable foreign currency exchange rate fluctuations of $15.8 million, primarily in Brazil. Segment Adjusted EBITDA increased by $24.2 million to $72.5 million, primarily driven by the same factors explained for above in the quarter.

Current wording

Latin America Payments and Solutions segment revenues for the nine months ended September 30, 2026 increased by $124.6 million to $384.8 million when compared to the same period in the prior year, driven by the same factors explained for above in the quarter. Revenue also benefited from favorable foreign currency exchange rate fluctuations of $21.8 million, primarily in Brazil. Segment Adjusted EBITDA increased by $43.0 million to $115.7 million, primarily driven by the same factors explained for above in the quarter and higher professional fees.

Previous wording

Merchant Acquiring segment revenues for the six months ended June 30, 2026 increased by $5.8 million to $100.7 million when compared to the same period in the prior year. The revenue increase was primarily driven by the same factors explained for above in the quarter. Segment Adjusted EBITDA increased by $1.0 million to $41.3 million driven by the same factors explained for above in the quarter.

Current wording

Merchant Acquiring segment revenues for the nine months ended September 30, 2026 increased by $10.0 million to $151.7 million when compared to the same period in the prior year. The revenue increase was primarily driven by the same factors explained for above in the quarter. Segment Adjusted EBITDA increased by $3.8 million to $62.8 million driven by the same factors explained for above in the quarter.

Previous wording

Business Solutions segment revenues for the six months ended June 30, 2026 decreased by $11.7 million to $118.4 million as compared to the prior year period. This decrease was primarily driven by the same factors explained for above in the quarter, as well as the impact from the non-recurring hardware and software sales executed during the prior year. Segment Adjusted EBITDA decreased by $4.1 million to $44.2 million as compared to the prior period primarily driven by the same factors explained for above in the quarter, partially offset by lower programming and infrastructure expenses.

Current wording

Business Solutions segment revenues for the nine months ended September 30, 2026 decreased by $14.8 million to $176.9 million as compared to the prior year period. This decrease was primarily driven by the same factors explained for above in the quarter, as well as the impact from the non-recurring hardware and software sales executed during the prior year. Segment Adjusted EBITDA decreased by $8.6 million to $64.8 million as compared to the prior period primarily driven by lower revenues, partially offset by lower technology, programming and infrastructure expenses.

Previous wording

As of June 30, 2026, there were no material changes to our primary short-term and long-term requirements for liquidity and capital resources as disclosed in Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operation” of our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 2, 2026. Our principal source of liquidity is cash generated from operations, and our primary liquidity requirements are the funding of working capital needs, capital expenditures, acquisitions, dividend payments, share repurchases and debt service. We also have a $200.0 million Revolving Facility, of which $159.4 million was available for borrowing as of June 30, 2026. The Company issues letters of credit against our Revolving Facility which reduce our availability of funds to be drawn.

Current wording

As of September 30, 2026, there were no material changes to our primary short-term and long-term requirements for liquidity and capital resources as disclosed in Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operation” of our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 2, 2026. Our principal source of liquidity is cash generated from operations, and our primary liquidity requirements are the funding of working capital needs, capital expenditures, acquisitions, dividend payments, share repurchases and debt service. We also have a $200.0 million Revolving Facility, of which $164.4 million was available for borrowing as of September 30, 2026. The Company issues letters of credit against our Revolving Facility which reduce our availability of funds to be drawn.

Previous wording

As of June 30, 2026, we had cash and cash equivalents of $260.7 million, of which $226.3 million resides in our subsidiaries located outside of Puerto Rico for purposes of (i) funding the respective subsidiary’s current business operations and (ii) funding potential future investment outside of Puerto Rico. We intend to reinvest these funds outside of Puerto Rico, and based on our liquidity forecast, we will not need to repatriate this cash to fund the Puerto Rico operations or to meet debt-service obligations. However, if in the future we determine that we no longer need to maintain cash balances within our foreign subsidiaries, we may elect to distribute such cash to the Company in Puerto Rico. Distributions from the foreign subsidiaries to Puerto Rico may be subject to tax withholding and other tax consequences. Additionally, our credit agreement imposes certain restrictions on the distribution of dividends from subsidiaries.

Current wording

As of September 30, 2026, we had cash and cash equivalents of $284.1 million, of which $235.4 million resides in our subsidiaries located outside of Puerto Rico for purposes of (i) funding the respective subsidiary’s current business operations and (ii) funding potential future investment outside of Puerto Rico. We intend to reinvest these funds outside of Puerto Rico, and based on our liquidity forecast, we will not need to repatriate this cash to fund the Puerto Rico operations or to meet debt-service obligations. However, if in the future we determine that we no longer need to maintain cash balances within our foreign subsidiaries, we may elect to distribute such cash to the Company in Puerto Rico. Distributions from the foreign subsidiaries to Puerto Rico may be subject to tax withholding and other tax consequences. Additionally, our credit agreement imposes certain restrictions on the distribution of dividends from subsidiaries.

Previous wording

Net cash provided by operating activities increased by $4.6 million to $90.7 million for the six months ended June 30, 2026, compared to $86.1 million for the same period in the prior year. The increase was primarily driven by higher non-cash adjustments to net income, including an increase of $20.5 million in depreciation and amortization expense and the recognition of an $8.9 million non-cash impairment loss on an investment in an equity investee. Operating cash flows also benefited from favorable changes in working capital, primarily an increase of $25.1 million in accrued liabilities and accounts payable. These increases were partially offset by lower net income of $42.4 million, higher accounts receivable of $3.1 million, and decreases in income tax payable of $6.4 million and contract liabilities of $2.4 million during the period.

Current wording

Net cash provided by operating activities increased by $19.3 million to $176.3 million for the nine months ended September 30, 2026, compared to $157.0 million for the same period in the prior year. The increase was primarily driven by higher non-cash adjustments to net income, including an increase of $35.7 million in depreciation and amortization expense and the recognition of an $8.9 million non-cash impairment loss on an investment in an equity investee. Operating cash flows also benefited from favorable changes in working capital, primarily an increase of $55.9 million in accrued liabilities and accounts payable, partially offset by higher uses of cash related to accounts receivable and prepaid expenses and other assets. These increases were partially offset by lower net income of $44.4 million during the period.

Previous wording

Net cash used in investing activities for the six months ended June 30, 2026 was $228.9 million compared to $42.7 million for the same period in the prior year. The increase was primarily attributable to the acquisition completed during the current quarter for $179.8 million, net of cash acquired and an increase of $5.7 million in software additions.

Current wording

Net cash used in investing activities for the nine months ended September 30, 2026 was $261.9 million compared to $69.6 million for the same period in the prior year. The increase was primarily attributable to the acquisition completed during the current quarter for $186.6 million, net of cash acquired and an increase of $6.4 million in software additions.

Previous wording

Net cash provided by financing activities for the six months ended June 30, 2026 was $77.8 million compared with cash used of $40.3 million for the same period in the prior year. The net cash provided by financing activities reflected the impact of the issuance of long term debt in connection with the Dimensa acquisition, partially offset by an increase in share repurchases of $67.0 million, an increase of $17.9 million related to the payment of the remaining non-controlling interests in Brazil, and an increase in settlement activities of $4.7 million.

Current wording

Net cash provided by financing activities for the nine months ended September 30, 2026 was $43.3 million compared to $89.1 million for the same period in the prior year. The net cash provided by financing activities reflected the impact of the issuance of long term debt in connection with the Dimensa acquisition of $184.5 million and a decrease of $6.0 million in settlement activities, partially offset by a decrease of $130.0 million in borrowings under the Revolving Facility in connection with the acquisitions, an increase in share repurchases of $78.8 million, an increase of $17.9 million related to the payment of the remaining non-controlling interests in Brazil, and an increase in other financing activities of $7.0 million primarily related to dividends paid to non-controlling interest holders.

Previous wording

Our principal capital expenditures are for hardware and computer software (purchased and internally developed) and additions to our property and equipment. During the six months ended June 30, 2026 and 2025, we invested approximately $47.8 million and $42.3 million in our capital resources, respectively. Generally, we fund capital expenditures with cash generated from operations and, if necessary, borrowings under our Revolving Facility.

Current wording

Our principal capital expenditures are for hardware and computer software (purchased and internally developed) and additions to our property and equipment. During the nine months ended September 30, 2026 and 2025, we invested approximately $74.9 million and $67.9 million in our capital resources, respectively. Generally, we fund capital expenditures with cash generated from operations and, if necessary, borrowings under our Revolving Facility.

Previous wording

On February 19, 2026, the Company's Board declared quarterly cash dividends of $0.05 per share of common stock, which was paid on March 6, 2026 to stockholders' of record on March 2, 2026. On April 30, 2026, the Board declared quarterly cash dividends of $0.05 per share of common stock, which was paid on June 5, 2026 to stockholders' of record on May 11, 2026. On July 23, 2026, the Board declared a regular quarterly cash dividend of $0.05 per share on the Company’s outstanding shares of common stock. The dividend is expected to be paid on September 4, 2026 to stockholders of record as of the close of business on August 3, 2026. The Board anticipates declaring this dividend in future quarters on a regular basis; however future declarations of dividends are subject to the Board’s approval and may be adjusted as business needs or market conditions change.

Current wording

On October 29, 2026, the Board declared a regular quarterly cash dividend of $0.05 per share on the Company’s outstanding shares of common stock. The dividend is expected to be paid on December 4, 2026 to stockholders of record as of the close of business on November 9, 2026. The Board anticipates declaring this dividend in future quarters on a regular basis; however future declarations of dividends are subject to the Board’s approval and may be adjusted as business needs or market conditions change.

Previous wording

At June 30, 2026, the unpaid principal balance of the TLA Facility and TLB Facility were $393.8 million and $875.0 million, respectively. At June 30,2026, the outstanding balance of the Revolving Facility was $35.0 million and the additional borrowing capacity for the Revolving Facility was $159.4 million, considering letters of credit issued. The Company issues letters of credit against the Revolving Facility which reduce the additional borrowing capacity of the Revolving Facility.

Current wording

At September 30, 2026, the unpaid principal balance of the TLA Facility and TLB Facility were $387.8 million and $875.0 million, respectively. At September 30,2026, the outstanding balance of the Revolving Facility was $30.0 million and the additional borrowing capacity for the Revolving Facility was $164.4 million, considering letters of credit issued. The Company issues letters of credit against the Revolving Facility which reduce the additional borrowing capacity of the Revolving Facility.

Previous wording

As part of the Company’s merger and acquisition activities, the Company may enter into agreements by which a portion of the purchase price is financed directly by the seller. At June 30, 2026 and December 31, 2025, the unpaid principal balance of these agreements amounted to $2.3 million and $6.2 million, respectively. Obligations bear interest at rates ranging from 8.2% to 12.9% with maturities ranging from January 2027 through March 2027. Deferred consideration is presented in accounts payable on the Company's unaudited condensed consolidated balance sheet.

Current wording

As part of the Company’s merger and acquisition activities, the Company may enter into agreements by which a portion of the purchase price is financed directly by the seller. At September 30, 2026 and December 31, 2025, the unpaid principal balance of these agreements amounted to $2.8 million and $6.2 million, respectively. Obligations bear interest at rates ranging from 8.2% to 12.9% with maturities ranging from November 2026 through July 2032. The current portion of the deferred consideration is included in accounts payable and the long-term portion is included in other-long term liabilities on the Company's unaudited condensed consolidated balance sheet.

Previous wording

In September 2023, EVERTEC Group entered into a non-interest bearing financing agreement amounting to $10.1 million to purchase software and maintenance which the Company recorded on a discounted basis using an implied interest of 6.9%. As of June 30, 2026, the outstanding principal balance of the note payable on a discounted basis was $5.3 million. The current portion of the note is included in accounts payable and the long-term portion is included in other long-term liabilities on the Company's unaudited condensed consolidated balance sheet.

Current wording

In September 2023, EVERTEC Group entered into a non-interest bearing financing agreement amounting to $10.1 million to purchase software and maintenance which the Company recorded on a discounted basis using an implied interest of 6.9%. As of September 30, 2026, the outstanding principal balance of the note payable on a discounted basis was $5.0 million. The current portion of the note is included in accounts payable and the long-term portion is included in other long-term liabilities on the Company's unaudited condensed consolidated balance sheet.

Previous wording

As of June 30, 2026, the Company has three interest rate swap agreements which convert a portion of the interest rate payments on the Company's Facilities from variable to fixed. The interest rate swaps are used to hedge the market risk from changes in interest rates corresponding with the Company's variable rate debt. The interest rate swaps are designated as cash flow hedges and are considered highly effective. Cash flows from the interest rate swaps are included in the accrued liabilities and accounts payable line item in the Company's unaudited condensed consolidated statements of cash flows. Changes in the fair value of the interest rate swaps are recognized in other comprehensive income (loss) until the gains or losses are reclassified to earnings. Gains or losses reclassified to earnings are presented within interest expense in the accompanying condensed consolidated statements of income and comprehensive income.

Current wording

As of September 30, 2026, the Company has three interest rate swap agreements which convert a portion of the interest rate payments on the Company's Facilities from variable to fixed. The interest rate swaps are used to hedge the market risk from changes in interest rates corresponding with the Company's variable rate debt. The interest rate swaps are designated as cash flow hedges and are considered highly effective. Cash flows from the interest rate swaps are included in the accrued liabilities and accounts payable line item in the Company's unaudited condensed consolidated statements of cash flows. Changes in the fair value of the interest rate swaps are recognized in other comprehensive income until the gains or losses are reclassified to earnings. Gains or losses reclassified to earnings are presented within interest expense in the accompanying unaudited condensed consolidated statements of income and comprehensive income.

Previous wording

At June 30, 2026, the carrying amount of the derivatives included on the Company's unaudited condensed consolidated balance sheet was an asset $2.0 million and a liability of $0.8 million. At December 31, 2025, the carrying amount of the derivatives was a liability of $5.2 million. The fair values of these derivatives are estimated using Level 2 inputs in the fair value hierarchy on a recurring basis. Refer to Note 9- Equityfor disclosure of gains (losses) recorded on cash flow hedging activities.

Current wording

At September 30, 2026, the carrying amount of the derivatives included on the Company's unaudited condensed consolidated balance sheet was an asset of $4.1 million. At December 31, 2025, the carrying amount of the derivatives was a liability of $5.2 million. The fair value of these derivatives are estimated using Level 2 inputs in the fair value hierarchy on a recurring basis. Refer to Note 9- Equityfor disclosure of gains (losses) recorded on cash flow hedging activities.

Previous wording

During the three and six months ended June 30, 2026, the Company reclassified gains of $0.2 million and $0.4 million, from accumulated other comprehensive loss into interest expense compared to gains of $0.8 million and $1.5 million for the corresponding period in 2025. Based on expected SOFR rates, the Company expects to reclassify gains of $0.7 million from accumulated other comprehensive loss into interest expense over the next 12 months.

Current wording

During the three and nine months ended September 30, 2026, the Company reclassified gains of $0.2 million and $0.6 million, from accumulated other comprehensive loss into interest expense compared to gains of $0.8 million and $2.3 million for the corresponding period in 2025. Based on expected SOFR rates, the Company expects to reclassify gains of $3.5 million from accumulated other comprehensive loss into interest expense over the next 12 months.

Previous wording

As of June 30, 2026, the total secured net leverage ratio was 2.55 to 1.00. As of the date of filing of this Report, no event has occurred that constitutes an Event of Default or Default.

Current wording

As of September 30, 2026, the total secured net leverage ratio was 2.46 to 1.00. As of the date of filing of this Report, no event has occurred that constitutes an Event of Default or Default.