October 13, 2016

Northern Trust Global Fund Services Client Forum and Regulatory Summit

Agenda

Introduction to Fidelity National Information Services, Inc. (FIS)

Buy-Side Solutions Strategy and Investment Operations Ecosystem

Investment Accounting Strategy and Execution

Operations Management through Control Center

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FIS Confidential

FIS Presenters VERONICA LEE

Vice President, Global Head of product management, Investment Operations

As global product executive for FIS’ Investment Operations suite of products, including the Investment Accounting solution, InvestOne, Veronica is focused on formulating the strategy around the primary needs of the global client community and business drivers in the financial services market. Veronica joined FIS over 15 years ago and has extensive product and industry expertise that spans many aspects of investment management operations, specifically middle- and back-office services in fund accounting and administration. She continues to be integral in developing and launching new solutions and enhancements to ensure that InvestOne remains nimble in meeting client demands in the face of changing regulatory environments and with the introduction of data demands and product complexities. Veronica leads the product management team to ensure that InvestOne remains the industry’s most powerful multi-currency, investment accounting and reporting system worldwide.

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PAUL ZUR NIEDEN Vice President, Global Product Manager, Control Center

As Global Product Manager for Control Center, Paul is focused on creating and extending operations management capabilities in FIS’ asset servicing solutions, including our workflow integration strategy. Paul joined FIS (SunGard) over fifteen years ago with prior experience in brokerage, mortgage product, and asset management operations and systems. During his tenure with FIS he has worked globally with clients of all sizes in asset management, fund accounting and administration, and private equity. He works actively with FIS’ clients and prospects on identifying opportunities for efficiency, transparency, control, and measurement. Paul is responsible for taking FIS’ Control Center solution forward with our clients as an industry leading operations management solution.

FIS: Serving the unique needs of financial services organizations

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MARKET REACH

cards processed 848M

10B

$9T

financial trade records processed per hour

moved globally every year

SOLUTION BREADTH

solutions +400

$300M

BPO, consulting and transformational services

invested annually in next-generation advancements

INDUSTRY EXPERTISE

Dedicated market practices

+40

+3,000

+55,000

210

years FinTech experience

consultants

employees worldwide

operational facilities (81 in the U.S.)

CLIENT RELATIONSHIPS

top global banks

+20,000 clients

9/10

top U.S. retailers

~75% U.S. credit unions

18/25

Federal government and 40 state governments

FIS Confidential

DIGITAL/CHANNEL

RISK, INFORMATION SECURITY, COMPLIANCE

OUTSOURCED SERVICES

CONSULTING

BANKING & PAYMENTS

WEALTH & ASSET MANAGEMENT

CAPITAL MARKETS

TECHNOLOGY

BANKING & PAYMENTS

BANKING

PAYMENTS

WEALTH MANAGEMENT

CORPORATE LIQUIDITY

INSTITUTIONAL & WHOLESALE

ASSET MANAGEMENT

CAPITAL MARKETS

INSURANCE

ENERGY

We help our clients prepare for what comes next

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Agenda

Introduction to Fidelity National Information Services, Inc. (FIS)

Buy-Side Solutions Strategy and Investment Operations Ecosystem

Investment Accounting Strategy and Execution

Operations Management through Control Center

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Buy-Side Solutions: Strategy Evolution

• Bringing together best of breed products to deliver integrated solutions, transforming the industry and what it means to be a true technology partner

• Maintaining a buy-side solutions strategy which monitors and reacts to industry trends but most of all, listens to our clients!

• Aligning product specific strategies to the overarching buy-side solutions strategy

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Investment Operations Ecosystem

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DATA DISSEMINATION DATA MANAGEMENT DATA CREATION

FUND ACCOUNTING

ABOR (Accounting Book of Record)

Valuation NAV (T+1)

Positions, Lots, P&L Calculation

INVESTMENT ACCOUNTING

IBOR (Investment Book of Record)

Counterparty Positions Trade Date EOD / SOD

TRANSACTION SUPPORT

Derivatives Life Cycle Bank Loans

Integration Routers Trade Settlement SWIFT Adapters

INVESTOR ACCOUNTING Transfer Agency Subs / Reds & Distributions

Equalization and Series Pricing

Private Equity and Partnerships

MULTI COST BASIS

MBOR (Multiple Books

of Record) Tax Prep

Reporting Prep

EXPENSES MANAGEMENT

Management Fees Performance Fees

Budgets / TER Invoicing

PERFORMANCE

Rates of Return GIPS Performance

Attribution

FINANCIAL REPORTING

Financial Statements GAAP, IFRS Regulatory

Reports

ASSET SERVICING

Data Management Pricing Services Multiple Vendor

management Intraday and

End- of-Day Feeds

CORPORATE ACTIONS

Event Management Decision Support Custody / Account

Reconciliation Transactions

POST-TRADE SUPPORT

Transaction maintenance

Trade Confirmations Settlement

Confirmations

RISK REPORTING

Value at Risk Risk Metrics

Counterparty Risk Compliance

COLLATERAL MANAGEMENT

Collateral Data Collateral Rules

Collateral Optimizer

DAILY REPORTING

Client Dashboards

Web Portal Delivery

PERIODIC REPORTING

Official Reports and Statements

Web Portal Delivery

RECONCILIATION Front Office Positions and Cash flows , Counterparty and Custodians NAV Positions

OPERATIONS MANAGEMENT Workflow, Exception Management , Process Automation Dashboards & E-Signoff

OPERATIONAL DATA STORE Operational Data Store, Position Data, Accounting data

Investment Operations Ecosystem

FRONT OFFICE

Order Management

Pre Trade Compliance

Trade Execution

BROKERS ASSET MANAGERS CLEARERS DATA VENDORS EXTERNAL DATA FLOWS

CUSTODY INVESTORS BANKS TRUSTEE DATA STORE REGULATORS EXTERNAL DATA FLOWS

Front / Middle / Back

FIS Confidential

Investment Ops Ecosystem: Northern Trust Usage

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FUND ACCOUNTING

ABOR (Accounting Book of Record)

Valuation NAV (T+1)

Positions, Lots, P&L Calculation

INVESTMENT ACCOUNTING

IBOR (Investment Book of Record)

Counterparty Positions Trade Date EOD / SOD

TRANSACTION SUPPORT

Derivatives Life Cycle Bank Loans

Integration Routers Trade Settlement SWIFT Adapters

INVESTOR ACCOUNTING Transfer Agency Subs / Reds & Distributions

Equalization and Series Pricing

Private Equity and Partnerships

MULTI COST BASIS

MBOR (Multiple Books

of Record) Tax Prep

Reporting Prep

EXPENSES MANAGEMENT

Management Fees Performance Fees

Budgets / TER Invoicing

PERFORMANCE

Rates of Return GIPS Performance

Attribution

FINANCIAL REPORTING

Financial Statements GAAP, IFRS Regulatory

Reports

ASSET SERVICING

Data Management Pricing Services Multiple Vendor

management Intraday and

End- of-Day Feeds

CORPORATE ACTIONS

Event Management Decision Support Custody / Account

Reconciliation Transactions

POST-TRADE SUPPORT

Transaction maintenance

Trade Confirmations Settlement

Confirmations

RISK REPORTING

Value at Risk Risk Metrics

Counterparty Risk Compliance

COLLATERAL MANAGEMENT

Collateral Data Collateral Rules

Collateral Optimizer

DAILY REPORTING

Client Dashboards

Web Portal Delivery

PERIODIC REPORTING

Official Reports and Statements

Web Portal Delivery

RECONCILIATION Front Office Positions and Cash flows , Counterparty and Custodians NAV Positions

OPERATIONS MANAGEMENT Workflow, Exception Management , Process Automation Dashboards & E-Signoff

OPERATIONAL DATA STORE Operational Data Store, Position Data, Accounting data

Investment Operations Ecosystem

FRONT OFFICE

Order Management

Pre Trade Compliance

Trade Execution

BROKERS ASSET MANAGERS CLEARERS DATA VENDORS EXTERNAL DATA FLOWS

CUSTODY INVESTORS BANKS TRUSTEE DATA STORE REGULATORS EXTERNAL DATA FLOWS

DATA DISSEMINATION DATA MANAGEMENT DATA CREATION Front / Middle / Back

FIS Confidential

Agenda

Introduction to Fidelity National Information Services, Inc. (FIS)

Buy-Side Solutions Strategy and Investment Operations Ecosystem

Investment Accounting Strategy and Execution

Operations Management through Control Center

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'40 MF O/C $9,448,169

OEIC / Unit Trust $821,764

Offshore MF $3,560,630

ETF $737,134

Asia MF $108,509

Chinese QDII / MF Funds $14,935

Hedge Funds $253,115

Pension / Master Trust

$7,175,995

Bank Common Collective $469,660

Insurance $707,569

Private $569,050

Other $2,122,691

Investment Accounting Asset Classification

Data as-of December 31, 2015

• $26 trillion

• Industry’s top asset managers and administrators

• Over 1,000 fund groups

• >82,000 investment portfolios

• Clients in 24 countries

• 75% of clients are ASP

• Size of clients range from 15 to over 20,000 portfolios

• Approx. 20% of clients are TPAs

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Investment Accounting Strategy Connecting to the Buy Side Solutions Strategy

Technology foundation

Operational effectiveness

Expanded data requirements

BUSINESS DIVERSIFICATION Global Processing Requirements

Adjacent Markets and Value Added Services New Investment Products

Business diversification

OPERATIONAL EFFECTIVENESS Operational controls and services

Process automation Resource optimization

EXPANDED DATA REQUIREMENTS Evolving Regulation

Centralized Ecosystem Data Access

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InvestOne Functional Roadmap Highlights

OPERATIONAL EFFECTIVENESS

RELEASE 15 • OSI* • Unitized Bonds* • Dirty Pricing RELEASE 16 • Convertible Bond Phase I • Complex Derivatives Processing

Phase I (Integration with Front Arena)**

• MBOR – Monthly Valuation Support

• Year-End Revaluation (AAS25)

BUSINESS DIVERSIFICATION

EXPANDED DATA REQUIREMENTS

RELEASE 15 • Identity Provider (IDP) • UI – FIS Branding and Camino

Standards RELEASE 16 • Calculation Basis Option for Friday

Forward Funds in BEC** • BEC Schedule Message** • Prior Year Recoupment in YTD

Operating Expenses** • Recapture of Waivers in Expense

Cap** • Report Delivery via SFTP or Email • Intraday Valuation Service for

Control Center** • New Architecture – VSAM on Oracle

RELEASE 15 • XSP (Corporate Actions)

Integration** • Financial Reporting Integration** • Money Market Intraday Valuation** • NASDAQ Interface Update - MMKT • Data Link

− Data Source Creation Simplification

RELEASE 16 • Apex (Collateral) Integration** • NASDAQ 50 Format and Intraday**

SaaS Dates: Release 15 (May 2016), Release 16 (May 2017)

*Early delivery facilitated through agile development **Targeting Mid-October for Pre-Release Client Feedback Exercise 13 FIS Confidential

InvestOne Functional Roadmap Highlights

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OPERATIONAL EFFECTIVENESS

RELEASE 17 • Alternate Security Identifiers • Convertible Bonds • Complex Derivatives Processing

Phase II** • MBOR Monthly Valuation Support • ETF Enhancements • CGT – Add Sub-Ledgers to

Activated Accounts & Bonus Shares

BUSINESS DIVERSIFICATION

EXPANDED DATA REQUIREMENTS

RELEASE 17 • Next generation EMS Phase I • NASDAQ Service for Control Center • IRA to Integration Framework

Phase I • OLE Server and Desktop

Technology Migration • New Architecture – Stand-Alone

COBOL

RELEASE 17 • IFRS9*** • US Swing Pricing *** • EMEA Money Market *** • Client / IBOR data and reporting

dissemination through DX / Insight − SSO via IDP − Report delivery web service − EMS and Performance in DX

SaaS Dates: Release 17 (May 2018)

*Early delivery facilitated through agile development ***Timing predicated on final regulations and/or user group feedback FIS Confidential

Prioritized projects for the sprint

Our Scrum process

Enhancement requests

Technical evolution / sustainability

New markets / features

Prioritized projects for the release

Sprint backlog (stories and tasks)

• Highest priority items

• 2-4 weeks work

Project backlog

(list of stories)

Product backlog (list of projects)

GreenHopper Release backlog (list of all approved

projects in a release)

Stakeholders

Lotus Notes, 2013-

Quickbase

GreenHopper

SCRUM TEAM PRODUCT OWNER

PRODUCT MANAGEMENT

RELEASE MANAGEMENT

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2-4 weeks

24 hrs

Scrum terminology

Sprint review and

retrospective

THE TEAM

SCRUM MASTER

PRODUCT OWNER

Daily scrum

meeting

Potentially shippable product

increment

Product backlog

Sprint backlog

Stories Stories

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Scrum benefits

• Increased collaboration across Dev, BA, and QA

• Better resource utilization by using cross-functional teams throughout the project

• Improved quality by delivering working software at the end of each sprint, and testing as we develop

• Improved predictability with better metrics, leading to making trade-offs earlier

• Higher value products delivered to clients by working on highest priority features first, and getting feedback along the way

• Facilitates incremental delivery, speeding time to market

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Continuous Delivery

• Quarterly releases in 2017 containing maintenance and new features – Continuing to evolve our ability to deliver value added features on a timely basis

– Leveraging test automation to minimize risk of fairly frequent change

– Release notes and updated documentation made available with each quarterly deployment

• Adaptable deployments – FIS handles upgrades for SaaS clients and Installed clients can choose to update the software as frequently as

quarterly but at a minimum annually

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TaaS Business Drivers

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IMPROVED QUALITY • regression testing around client scenarios • increase coverage and confidence in software stability

CONTINUOUS DELIVERY • preparing clients to accept changes more regularly

REDUCED CLIENT EFFORT • empower clients with comprehensive automated tests run

earlier, consistently, faster and more frequently

FIS Confidential

TaaS Service Mission

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TESTING AS A SERVICE • goals of developing the Testing as a Service offering are:

• empower clients to quickly receive validation of changes • increase the depth and breadth of client testing • early exposure of critical issues • reduce client weekend staff dependency • reduce overall testing costs • convert manual efforts to automated solutions • transfer execution / level 1 analysis responsibilities to FIS • gain insight into client system usage and scenarios

FIS Confidential

Agenda

Introduction to Fidelity National Information Services, Inc. (FIS)

Buy-Side Solutions Strategy and Investment Operations Ecosystem

Investment Accounting Strategy and Execution

Operations Management through Control Center

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Control Center is …

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• An operations management solution that provides the ability to easily create and execute business processes – while keeping all team members and stakeholders simultaneously informed of the status of work across the operation

– optimizing work against SLAs and other operational deadlines, and

– creating a fully audited process flow with a virtual document folder, or Audit Pack

• It does this through a user-friendly process designer, a set of dashboards, service automation, and work organization capabilities.

FIS Confidential

Control Center benefits Implemented within an operation, Control Center provides benefits across three main categories

Efficiency “How can we improve our processes?”

Higher levels of automation

Eliminating tasks performed manually

Faster navigation for users

Elimination of paper and printing

Workload balancing and optimization

Transparency “What’s going on right now?

Operational analytics

Red/Amber/Green processing status

KPI management

Ad-hoc re-allocation of work

Operations analyst utilization

Use operational metrics as both lagging and leading indicators

Control “What can we do to minimize errors?”

Route work accurately and on a timely basis throughout the organization

Enforce and monitor SLAs

Enforce critical process steps and prevent mis-filing of reports

Reduce near misses

Easily create audit packs – reduce preparation and execution time, and prove control for auditors

Analysts Supervisors Managers

Analysts Managers Supervisors Supervisors Auditors Clients Clients Clients

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Why we built Control Center

Typical BPM Tools

Designed to be all things to everyone • Due to their very broad scope across industries

Require extensive knowledge of the tool to design and configure • Creates a steep learning curve for clients

Those knowledgeable in the tool not typically knowledgeable about asset servicing

Integration with FIS solutions adds significant complexity

Result: long, expensive initial implementations

and high cost of ongoing support

Control Center

Designed for asset servicing by asset servicing SMEs • Intentionally narrow scope within asset servicing

No knowledge of workflow tool required • Can be easily configured by BAs with without

technical expertise

FIS clients and staff have deep industry knowledge • Understand fund types, operational steps,

conditions in asset servicing

Result: shorter, lower cost initial implementations and lower cost of ongoing support

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Control Center and surround systems

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Control Center

Integration Framework

InvestOne Recon

Passport

NAV App

Other

Provides a full lifecycle view across functional areas and solutions.

FIS Confidential

Key new capabilities

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Management

Quality Control • Frequency tests on users’ work

Criticality • Highlight late or otherwise important work

Gantt Chart View • Checklist in an easier to read graphical

view

New SLA Monitor • Replaces Traffic Light View • More flexible

Convenience

Chat • Saved with the Checklist

Configurable screens • Users can set / save columns and filters

Reporting • Built-in reporting capability

Calendars • Layering capability – fewer calendars to manage

Announcing Control Center release 4

FIS Confidential

Control Center Releases

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Oct 2014 Release 3.0

Oct 2016 Release 3.8

First Client Northern Trust

Core Ecosystem Component

Eight Clients

2017 Release 4.x

Buy-Side Workflow Solution

FIS Confidential

Disaster Recovery – SaaS Clients

• FIS provides Disaster Recovery resulting in Business Continuity in a manner specified in our contractual agreements

• Disaster Recovery is defined as the client operating environment running at the secondary data center utilizing replication from the primary data center

• FIS backs up all Client files daily after online availability

• Once each month, full volume backups are created of the Solution using tape drives. These backups are couriered offsite to the backup vault and have a retention cycle of seven (7) years.

• Clients are required to participate in a DR test at least annually

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Confidentiality statement

Copyright © 2016 by FIS Data Systems Inc. (or its subsidiaries, “FIS”). All rights reserved. No parts of this document may be reproduced, transmitted or stored electronically without FIS’ prior written permission.

This document contains FIS' confidential or proprietary information. By accepting this document, you agree that: (A)(1) if a pre-existing contract containing disclosure and use restrictions exists between your company and FIS, you and your company will use this information subject to the terms of the pre-existing contract; or (2) if no such pre-existing contract exists, you and your Company agree to protect this information and not reproduce or disclose the information in any way; and (B) FIS makes no warranties, express or implied, in this document, and FIS shall not be liable for damages of any kind arising out of use of this document.

This document is intended to outline our general product direction at this time. It is intended for information purposes only, and is not a commitment to deliver any of the items described herein. The development and timing of any features or functionality for FIS’ products remains at the sole discretion of FIS.

Asset Arena InvestOne descriptions are for informational purposes only. Some functionality may be part of optional modules with additional fees. Clients may contact their account manager regarding what modules or features are included in their license.