Company: UIS
Filing Date: 2025-03-24
Form Type: DEF 14A
Source: 0001104659-25-027313
Chunk: 23

Company: UNISYS CORP
Filing Date: 2025-03-24
Form: DEF 14A
Chunk 23
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 by reference to this Proxy Statement).

TABLE OF CONTENTS

| ​ | 40 | ​ | ​ |     | ​ | ​ | | | ​ | ​ | Advisory Vote to Approve Executive Compensation | ​ |

How Did We Perform in 2024? In 2024, we exceeded our profitability guidance and met our revenue guidance. Our full-year operating cash flow and free cash flow increased 82.1% to $135 million and over 100% to $55 million, respectively, year-over-year and full-year and pre-pension free cash flow improved 89.4% to $82 million. Revenue for 2024 was $2.01 billion, a decrease of 0.3% year-over-year on a reported basis and in constant currency. Operating profit margin and non-GAAP operating profit margin were 4.8%, an improvement of 100 basis points year-over-year, and 8.8%, an improvement of 180 basis points year-over-year, respectively. Net loss as a percentage of revenue and adjusted EBITDA as a percentage of revenue were (9.6)% and 14.5%, respectively. For a reconciliation of our GAAP measures to non-GAAP measures, please see Appendix A to this Proxy Statement and the earnings release attached as Exhibit 99.1 to our Current Report on Form 8-K filed with the SEC on February 18, 2025 (but such report shall not be deemed to be incorporated by reference to this Proxy Statement).

| ​ | ​           | ​ | ​ | Revenue   | ​ | ​ | Operating ProfitMargin | ​ | ​ | Non-GAAPOperatingProfit Margin | ​ | ​ | Net Loss as aPercentage ofRevenue | ​ | ​ | Adjusted EBITDA asa Percentage ofRevenue | ​ |
| ​ | 2024 Actual | ​ | ​ | $2,008.4M | ​ | ​ | 4.8%                   | ​ | ​ | 8.8%                           | ​ | ​ | (9.6)%                            | ​ | ​ | 14.5%                                    | ​ |

The global GAAP pension deficit increased during 2024 by approximately $50 million to approximately $750 million. This was primarily driven by the impact of tightening credit spreads on U.S. liabilities. During the year, we continued executing our pension management strategy with one annuity purchase that transferred approximately $192 million in pension liabilities to a third-party insurer. This transaction was funded with plan assets