Amdocs : Behind the MWC24 Buzz & Generative AI's Disruptive Force Presentation

Behind the MWC24 Buzz and

Generative AI's Disruptive Force

MWC24 Investor Recap Webinar

Anthony Goonetilleke

Amdocs Group President, Technology & Head of Strategy

March 5, 2024

The information contained herein in this presentation or delivered or to be delivered to you during this presentation does not constitute an offer, expressed or implied, or a recommendation to do any transaction in Amdocs Limited securities or in any securities of its affiliates or subsidiaries.

This presentation and the comments made by members of Amdocs management in conjunction with it can be found on the Investor Relations section of our website, and, as always, a copy of today's prepared remarks will also be posted immediately following the conclusion of this call. This presentation includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs' growth and business results in future quarters and years. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions,

we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause

future results to differ from those anticipated. These risks include, but are not limited to, the effects of general macroeconomic conditions, prevailing level of macroeconomic, business and operational uncertainty, including as a result of geopolitical events or other global or regional events such as the recent attacks in Israel and evolving conflict and the COVID-19 pandemic, as well as the current inflationary environment, and the effects of these conditions on the Company's customers' businesses and levels of business activity, including the effect of the current economic uncertainty and industry pressure on the spending decisions of the Company's customers. Amdocs' ability to grow in the business markets that it serves, Amdocs' ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, our ability to successfully and effectively implement artificial intelligence and Generative AI in the Company's offerings and operations, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, Amdocs specifically disclaims any obligation to do so. These and other risks are discussed at greater length in Amdocs' filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for

the fiscal year ended September 30, 2023 filed on December 13, 2023, and our Form 6-K furnished for the first quarter of fiscal 2024 on February 20, 2024.

This presentation includes non-GAAP financial measures, including non-GAAP operating margin, free cash flow, revenue on a constant currency basis, non-GAAP net income, non-GAAP net income attributable to Amdocs Limited, and non-GAAP earnings per share. Free cash flow equals cash generated by operating activities less net capital expenditures and other. While in prior years Amdocs used normalized free cash flow, a measure of our operating performance, is further adjusted to exclude net capital expenditures related to the new campus development, payments for non-recurring and unusual charges (such as capital gains tax to be paid in relation to the divestiture of OpenMarket), and payments of acquisition related liabilities, Amdocs is no longer reporting normalized free cash flow. Normalized free cash flow is not comparable to free cash flow. These non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non- GAAP financial measures used by other companies. In addition, these non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. Amdocs believes that non-GAAP financial measures have limitations in that they do not reflect all of the amounts associated with Amdocs' results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Amdocs' results of operations in conjunction with the corresponding GAAP measures. Please refer to the appendix for a reconciliation of these metrics to the most comparable GAAP provision.

This presentation also includes pro forma metrics which exclude the financial impact of OpenMarket (divested on December 31, 2020) from fiscal year 2021.

Please also review the information contained in Amdocs' press release dated February 6, 2024 with respect to earnings for fiscal Q1 2024. The press release contains additional information regarding Amdocs' outlook for fiscal year 2024 and certain non-GAAP metrics and their reconciliations.

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Key Themes of MWC24

Everything with a Sprinkle of AI

Physical GAI /	Near & Far Edge-	Integrating Trusted	Cost efficacy of	'Model Garden'
Device-driven	based GAI and	GAI to deliver	generative AI	approach to LLMs
	Distributed AI (DAI)	business results	models

Monetization	Connectivity	Security
Network API / Open Gateway Initiative;	From vRAN to ORAN;	Quantum Security to
Enterprise/B2B Services	5G to 6G	Confidential Computing

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Our Strategy

Create and deliver	Unlock the full	Accelerate the	Streamline and	Capitalize on B2B
extraordinary digital	potential of 5G -	cloud journey to	automate complex	market opportunities
experiences with	deploy, operate,	reach new heights	network ecosystems to	by driving customer
more agile and	and monetize like	in value, efficiency	increase flexibility,	satisfaction with
adaptable tech.	never before	and resilience.	reduce cost and	state-of-the-art
			realize new revenue	solutions and
			opportunities	connectivity.

TECHNOLOGY ENABLERS

(G)AI & DATA

Leverage Generative AI and Data intelligence to enhance customer

satisfaction, optimize network operations and create exciting telco experiences

We've Taken a Multi-path Approach to Enabling CSP Adoption of GenAI

	Amdocs	Platform	App
GenAI-driven Copilots	Products		Factory	GenAI application
embedded within CES				use case library

Industry

Leading	Jointly developed genAI powered
Partnerships	Customer Engagement Platform,
	Azure OpenAI capabilities

Customized enterprise-grade LLMs,

DGX Cloud super compute capabilities, fine tuning and performance optimization

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We Built An Open, Secure, & Telco-Verticalized GenAI Platform

Increase Time-To-Value with

pre-defined templates: capability packaging for common themes

Understand telecom context &

Improve accuracy:

augmentation capabilities to

connect, optimize and enhance

domain verticalized outputs

Framework layer to create prompt templates, integrate, collect data, orchestrate and produce outputs

GenAI apps, products & use cases

Product	App Factory
(Type A)	(Type B)

Amdocs amAIz	Trusted AI
Use Case Kits
Telco Taxonomy	Governance
GenAI Framework
GenAI Foundation	DataONE

FoundationIntelligence

modelsFactory

Oversight & control mechanisms to address security, regulation concerns and ensure responsible use

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What Does It Mean for Customers?

November Bill: $110.45

Notices their bill total is different than the prior month, calls customer care to inquire

October Bill: $80.95

	Account Details
	10/17
	Credit Card Payment - Prior Month Balance	-$80.95
	10/26-11/25
	Home Internet
	- High Speed Internet (300mbps service)	$56.00
	- Internet Equipment	$5.99
	- Internet Credit	-$5.99
	- Smart Router	$0.00
	Wireless Service
	- Family Plan (3 lines), 10GB Data	$50.99
	6-month promotional pricing	-$15.00
	Bundle Promotion
	10/26-11/25	-$11.99
	Netflix (1 Household)	$6.99
	3-month promotional pricing	-$6.99
	Taxes & Fees
	- State Recovery Fee	$3.97

Total Amount Due

$80.95

	Account Details
	11/10
	Credit Card Payment - Prior Month Balance	-$80.95
	11/26-12/25
	Home Internet
	- High Speed Internet (300mbps service)	$56.00
	- Internet Equipment	$5.99
	- Internet Credit	-$5.99
	- Smart Router	$0.00
	Wireless Service
	- Family Plan (3 lines), 10GB Data	$50.99
	6-month promotional pricing	-$15.00
	- Additional Charges:	$24.50
	Prorated Data Discount	-$4.00
	Bundle Promotion
	11/26-12/25	-$11.99
	Netflix (1 Household)	$6.99
	3-month promotional pricing	-$6.99
	Taxes & Fees
	- Late Payment Fee	$10.00
	- State Recovery Fee	$3.97

Total Amount Due

$110.45