NCR Corporation Announces Timing and Additional Details Regarding its Previously Announced Separation

NCR Corporation (“Company,” NYSE: NCR) today announced that its Board of Directors has approved the timing and additional details regarding its previously announced separation of the Company’s ATM-focused businesses, including its Self-Service Banking, Payments & Network and Telecommunications and Technology businesses, through a distribution of all of the common stock of NCR Atleos Corporation (“Atleos”) held by the Company to Company common stockholders. Atleos is currently named NCR Atleos, LLC and will convert to a Maryland corporation and change its name to NCR Atleos Corporation prior to the distribution.

To effect the separation, the Company’s Board of Directors has authorized a pro rata distribution to Company common stockholders as of the close of business on the record date of one hundred percent (100%) of the outstanding shares of Atleos. In the distribution, each holder of Company common stock will receive one share of Atleos common stock for every two shares of Company common stock held as of the close of business on October 2, 2023, the record date for the distribution. The distribution is expected to occur after the close of business on October 16, 2023. The distribution is intended to qualify as a transaction that is tax-free for United States federal income tax purposes. The distribution is subject to certain conditions described in the registration statement on Form 10 filed by Atleos (the “Form 10”) and the related Information Statement, dated August 14, 2023 (the “Information Statement”), to be made available to stockholders.

• The distribution is expected to be made at 5:00 p.m. local New York City time on October 16, 2023 to the Company’s common stockholders of record as of 5:00 p.m. local New York City time on October 2, 2023, the record date for the distribution.
• On the distribution date, Company common stockholders will receive one share of Atleos common stock for every two shares of Company common stock held as of the record date.
• Following the distribution, Atleos will be an independent, publicly-traded company on the New York Stock Exchange (the “NYSE”), and the Company (to be renamed NCR Voyix Corporation (“Voyix”) following the distribution) will retain no ownership interest in Atleos.

“Today’s announcement marks a major milestone in the completion of the separation of Atleos from NCR, and it is one made possible only through collaborative work and dedication of all of the Company's employees,” said Michael D. Hayford, the Company’s CEO. “This is a proud moment in the Company’s 139-year history of innovation. Through that same vibrant tradition and culture, Voyix and Atleos stand poised to build on the Company’s legacy as value-creators for stockholders and top attractors for talent and growth.”