Jack Henry & Associates — May 6, 2025 release

Calculation of Free Cash Flow (Non-GAAP) Nine Months Ended March 31, (In thousands) 2025 2024 Net cash from operating activities $ 314,392   $ 336,242  Capitalized expenditures (41,186) (34,347) Internal use software (3,833) (4,561) Proceeds from sale of assets —   900  Capitalized software (130,298) (125,351) FREE CASH FLOW $ 139,075   $ 172,883   Calculation of the Return on Average Shareholders’ Equity March 31, (In thousands) 2025 2024 Net income (trailing four quarters) $ 429,217   $ 378,516  Average stockholder's equity (period beginning and ending balances) 1,908,181   1,659,120  RETURN ON AVERAGE SHAREHOLDERS’ EQUITY 22.5% 22.8% Calculation of Return on Invested Capital (ROIC) (Non-GAAP) March 31, (In thousands) 2025 2024 Net income (trailing four quarters) $ 429,217   $ 378,516  Average stockholder's equity (period beginning and ending balances) 1,908,181   1,659,120  Average current maturities of long-term debt and financing leases (period beginning and ending balances) 45,000   1  Average long-term debt (period beginning and ending balances) 165,000   312,500  Average invested capital $ 2,118,181   $ 1,971,621  ROIC 20.3% 19.2% 14 GAAP to Non-GAAP EPS Reconciliation Table FY25 Guidance GAAP EPS $6.00-$6.09 Excluded Activity, net of Tax: Deconversion* $0.17-$0.22 Non-GAAP EPS $5.83-$5.87 *We are not aware of any other discreet adjustments at this time. Deconversion revenue and related operating expenses are based on actual results for fiscal year-to-date 2025 and estimates for the remainder of fiscal year 2025, based on the lowest actual recent historical results. See the Company’s Form 8-K filed with the Securities and Exchange Commission on April 30, 2025. FAQ for Analysts / Investors 1. What caused the slowing of non-GAAP revenue growth in the 3 rd quarter? • Hardware revenue was down $4 million from the prior year quarter. Revenue growth would have been 7.8% overall had hardware revenue remained consistent. • Growth in our key areas of revenue (Cloud and Processing revenue) grew at 9.8%, compared to 8.8% a year ago. 2. What are the key factors lowering annual non-GAAP revenue guidance? • The outlook for hardware revenue is down as we are seeing customers delay large capital purchases, possibly due to economic uncertainty. • Similar to hardware, we are seeing customers delaying the start of signed non-recurring projects and the implementation of post-core products. • Given the recen