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Financial Overview February 2013 2
Infor overview $2.8B total revenue FY12 pro forma $838M adjusted EBITDA FY12 pro forma 1,500 partners 2,300 new customers 12,400 employees 70,000 customers around the world 3rd largest enterprise applications company 102 New products in 2012, extending innovation 140 new partners in the past year 1,700 new employees in the past year 9,000 engineers & technical consultants 600 new engineers in the past year 3
Historical Financial Summary (1) Pro forma revenue ($ in millions) $2,759 $3,000 $2,584 $2,648 $537 $466 $503 (1) $2,718 $517 Pro forma adjusted EBITDA ($ in millions) (1) $1,000 $838 $811 $791 $800 $764 $2,000 $1,000 $1,358 $1,392 $1,444 $1,439 $600 $400 $760 $753 $778 $762 $200 $0 FY 2010 FY 2011 FY 2012 Q3 FY 2013 LTM $0 FY 2010 FY 2011 FY 2012 Q3 FY 2013 LTM Services Maintenance License Fees EBITDA Margin: 29.6% 29.8% 30.4% 29.9% (1) Results as presented are pro forma for pre-acquisition results and reversal of acquisition related adjustments. FY 2011, FY 2012, and Q3 FY13 Last Twelve Months (LTM) PF EBITDA includes $15.0 million,$13.9 million and $5.9 million of incremental synergies yet to be realized, respectively. Based on actual currency. 4
Pro forma revenue ($ in millions) FY12 financial overview $3,000 $2,648 $2,748 $2,759 $503 $539 $537 $2,000 Services Maintenance $1,000 $1,392 $1,435 $1,444 License Fees $0 $753 $774 $778 FY 2011 FY 2012 CC FY 2012 Actual YoY Growth: CC (1) Actual License +7.0% +6.8% Maintenance +3.1% +3.7% Services +2.9% +3.4% Total +3.8% +4.2% Adj. EBITDA $791M $836M $838M % Margin 30% 30% 30% Note: Results as presented are pro forma for pre-acquisition results and reversal of acquisition related adjustments. (1) Constant currency is computed by converting actual results using FY11 exchange rates 5
Q3 FY13 YTD v. Q3 FY12 YTD P&L: Pro Forma Pro Forma Results (1) Currency-adjusted Results $ in millions Actual Actual % Currency Adjusted Actual % YTD FY13 YTD FY12 Variance Variance Impact (2) YTD FY13 YTD FY12 Variance Variance Revenue License fees $ 353.9 $ 373.9 $ (20.0) -5.3% $ (5.0) $ 358.9 $ 373.9 $ (15.0) -4.0% Product updates and support fees 1,078.3 1,083.9 (5.6) -0.5% (16.3) 1,094.6 1,083.9 10.7 1.0% Software revenues 1,432.2 1,457.8 (25.6) -1.8% (21.3) 1,453.5 1,457.8 (4.3) -0.3% Consulting services and other fees 562.0 578.0 (16.0) -2.8% (14.1) 576.1 578.0 (1.9) -0.3% Total revenues 1,994.2 2,035.8 (41.6) -2.0% (35.4) 2,029.6 2,035.8 (6.2) -0.3% Expenses Cost of license fees 57.3 65.7 (8.4) -12.8% (1.0) 58.3 65.7 (7.4) -11.3% Cost of product updates and support fees 191.1 200.5 (9.4) -4.7% (4.0) 195.1 200.5 (5.4) -2.7% Cost of consulting services and other fees 440.0 467.2 (27.2) -5.8% (11.9) 451.9 467.2 (15.3) -3.3% Sales and marketing costs 326.8 329.4 (2.6) -0.8% (6.6) 333.4 329.4 4.0 1.2% Research and development 257.0 246.8 10.2 4.1% (4.1) 261.1 246.8 14.3 5.8% General and administrative 150.2 194.8 (44.6) -22.9% (2.3) 152.5 194.8 (42.3) -21.7% Amortization of intangible assets and depreciation 209.5 256.0 (46.5) -18.2% (2.6) 212.1 256.0 (43.9) -17.1% Restructuring costs 7.5 52.3 (44.8) -85.7% (0.8) 8.3 52.3 (44.0) -84.1% Acquisition related and other costs 15.9 48.9 (33.0) -67.5% - 15.9 48.9 (33.0) -67.5% Total operating expenses 1,655.3 1,861.6 (206.3) -11.1% (33.3) 1,688.6 1,861.6 (173.0) -9.3% Income from operations 338.9 174.2 164.7 94.5% (2.1) 341.0 174.2 166.8 95.7% Interest expense, net 315.1 321.2 (6.1) -1.9% - 315.1 321.2 (6.1) -1.9% Loss on extinguishment of debt 1.8 8.7 (6.9) -79.3% - 1.8 8.7 (6.9) -79.3% Other (income) expense, net 110.3 (51.5) 161.8 nm 3.5 106.8 (51.5) 158.3 nm Loss before benefit from income taxes (88.3) (104.2) 15.9-15.2% (5.6) (82.7) (104.2) 21.5-20.6% Provision for (benefit from) income taxes 25.3 (20.4) 45.7 nm (0.2) 25.5 (20.4) 45.9 nm Net loss $ (113.6) $ (83.8) $ (29.8) 35.6% $ (5.4) $ (108.2) $ (83.8) $ (24.4) 29.2% Add backs 711.6 707.9 3.7 0.5% (0.2) 711.8 707.9 3.9 0.6% Adjusted EBITDA $ 598.0 $ 624.1 $ (26.1) -4.2% $ (5.6) $ 603.6 $ 624.1 $ (20.5) -3.3% Adjusted EBITDA margin 30.0% 30.7% 29.7% 30.7% (1) Pro Forma Results contain pre-acquisition results, reversal of acquisition-related adjustments, adjustments to debt reflecting our current debt structure and the related tax effects (2) Currency impact is computed by converting actual results using FY12 exchange rates 6
Balance Sheet & Cash Flow Highlights $362.9M+ cash & equivalents at Q3 FY13 Infor has significant cash on its balance sheet and continues to generate strong cash flows In addition to available cash, Infor has a $150.0 million revolver that has not been used $391.2M+ in current accounts receivable at Q3 FY13 Historical DSO less than 60 days $141.3M+ operating cash flow in 9 month FY13 50%+ of total revenue from maintenance with 94%+ renewal rates highly profitable and highly predictable revenue and cash flow model 7
Leading private equity firm with ~$12 billion of capital under management Golden Gate is dedicated to partnering with world-class management teams to invest in change-intensive, growth businesses Golden Gate is one of the most active software investors in the world, having invested in or acquired more than 75 technology companies since its inception in 2000 Current portfolio of software companies generated combined revenues in 2011 of approximately $5 billion Leading growth equity firm founded in 1984 Raised more than $14 billion in growth capital, and has invested in more than 340 growing businesses across a range of industries North America, Europe and Asia Particularly active in the technology sector, having made investments in more than 200 technology companies, including nearly 100 software companies Helped build pioneering companies in the ERP, CRM, information and data security, antivirus, messaging management and archiving, and SaaS categories Representative Technology Investments Representative Technology Investments 8
Appendix 9
Q3 FY13 YTD v. Q3 FY12 YTD P&L: GAAP Actual Results Currency-adjusted Results $ in millions Actual Actual % Currency Adjusted Actual % YTD FY13 YTD FY12 Variance Variance Impact (1) YTD FY13 YTD FY12 Variance Variance Revenue License fees $ 342.6 $ 344.6 $ (2.0) -0.6% $ (5.0) $ 347.6 $ 344.6 $ 3.0 0.9% Product updates and support fees 1,077.0 949.2 127.8 13.5% (16.3) 1,093.3 949.2 144.1 15.2% Software revenues 1,419.6 1,293.8 125.8 9.7% (21.3) 1,440.9 1,293.8 147.1 11.4% Consulting services and other fees 558.1 553.1 5.0 0.9% (14.1) 572.2 553.1 19.1 3.5% Total revenues 1,977.7 1,846.9 130.8 7.1% (35.4) 2,013.1 1,846.9 166.2 9.0% Expenses Cost of license fees 57.3 63.2 (5.9) -9.3% (1.0) 58.3 63.2 (4.9) -7.8% Cost of product updates and support fees 191.1 192.8 (1.7) -0.9% (4.0) 195.1 192.8 2.3 1.2% Cost of consulting services and other fees 438.7 437.9 0.8 0.2% (11.9) 450.6 437.9 12.7 2.9% Sales and marketing costs 326.8 308.4 18.4 6.0% (6.6) 333.4 308.4 25.0 8.1% Research and development 257.0 233.3 23.7 10.2% (4.1) 261.1 233.3 27.8 11.9% General and administrative 150.2 174.9 (24.7) -14.1% (2.3) 152.5 174.9 (22.4) -12.8% Amortization of intangible assets and depreciation 209.5 243.8 (34.3) -14.1% (2.6) 212.1 243.8 (31.7) -13.0% Restructuring costs 7.5 52.3 (44.8) -85.7% (0.8) 8.3 52.3 (44.0) -84.1% Acquisition related and other costs 15.9 23.4 (7.5) -32.1% - 15.9 23.4 (7.5) -32.1% Total operating expenses 1,654.0 1,730.0 (76.0) -4.4% (33.3) 1,687.3 1,730.0 (42.7) -2.5% Income from operations 323.7 116.9 206.8 176.9% (2.1) 325.8 116.9 208.9 178.7% Interest expense, net 315.1 353.6 (38.5) -10.9% - 315.1 353.6 (38.5) -10.9% Loss on extinguishment of debt 1.8 8.7 (6.9) -79.3% - 1.8 8.7 (6.9) -79.3% Other (income) expense, net 110.3 (52.6) 162.9 nm 3.5 106.8 (52.6) 159.4 nm Loss before benefit from income taxes (103.5) (192.8) 89.3-46.3% (5.6) (97.9) (192.8) 94.9-49.2% Provision for (benefit from) income taxes 25.3 (16.9) 42.2 nm (0.2) 25.5 (16.9) 42.4 nm Net loss $ (128.8) $ (175.9) $ 47.1-26.8% $ (5.4) $ (123.4) $ (175.9) $ 52.5-29.8% (1) Currency impact is computed by converting actual results using FY12 exchange rates 10
Q3 FY13 and FY12 Balance Sheet: GAAP February 28, May 31, $ in millions 2013 2012 Assets Current assets Cash and cash equivalents $ 362.9 $ 384.4 Accounts receivable, net 391.2 412.6 Other current assets 160.2 168.2 Total current assets 914.3 965.2 Property and equipment, net of accumulated depreciation 69.9 63.3 Intangible assets, net of accumulated amortization 5,253.6 5,268.7 Other long-term assets 270.0 236.4 Total assets $ 6,507.8 $ 6,533.6 Liabilities and Stockholders' Deficit Current liabilities Accounts payable and accrued liabilities 549.9 548.5 Deferred revenue 822.5 851.9 Current portion of long-term debt 91.2 90.8 Total current liabilities 1,463.6 1,491.2 Long-term debt 5,257.9 5,267.8 Other long-term liabilities 370.0 395.1 Total liabilities 7,091.5 7,154.1 Stockholders' deficit (583.7) (620.5) Total liabilities and stockholders' deficit $ 6,507.8 $ 6,533.6 11
Q3 FY13 YTD and Q3 FY12 YTD Cash Flow: GAAP $ in millions Nine Months Ended February 28, 2013 February 29, 2012 Cash flows from operating activities Net loss $ (128.8) $ (175.9) Adjustments to reconcile net loss to net cash provided by (used in) operating activities Depreciation and amortization 209.5 243.8 Non cash items and change in working capital 60.6 (82.9) Net cash provided by (used in) operating activities 141.3 (15.0) Cash flows from investing activities Acquistion, net of cash acquired (55.0) (1,507.8) Purchases of property, equipment and software (28.0) (14.9) Other investing activities 3.0 (3.0) Net cash used in investing activities (80.0) (1,525.7) Cash flows from financing activities Deferred financing fees and other financing activities (28.2) (84.0) Proceeds from the issuance of stock - 482.5 Proceeds from issuance of debt 2,778.9 2,063.8 Loans to stockholders (13.2) - Proceeds from repayment of shareholder loans - 2.7 Payment of debt obligations (2,825.5) (849.2) Net cash (used in) provided by financing activities (88.0) 1,615.8 Increase (decrease) in cash and cash equivalents (26.7) 75.1 Effect of exchange rate on cash and cash equivalents 5.2 (6.6) Net increase (decrease) in cash and cash equivalents (21.5) 68.5 Cash and cash equivalents Beginning of the period 384.4 337.0 End of the period $ 362.9 $ 405.5 12
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