Xerox Holdings Investor Presentation — April 2020

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Q1 2020 RESULTS IAPRIL 28, 2020—2Forward -Looking Statements

This presentation, and other written or oral statements made from time to time by management contain “forward -looking statements ” as defined in the Private Securities Litigation

Reform Act of 1995. The words “anticipate”, “believe”, “estimate”, “expect”, “intend”, “will”, “should”, "targeting", "projec ting", "driving" and similar expressions, as they relate to us, our

performance and/or our technology, are intended to identify forward -looking statements. These statements reflect management’s cu rrent beliefs, assumptions and expectations and are

subject to a number of factors that may cause actual results to differ materially. Such factors include but are not limited t o: our ability to address our business challenges in order to

reverse revenue declines, reduce costs and increase productivity so that we can invest in and grow our business; our ability to attract and retain key personnel; changes in economic and

political conditions, trade protection measures, licensing requirements and tax laws in the United States and in the foreign countries in which we do business; the imposition of new or

incremental trade protection measures such as tariffs and import or export restrictions; changes in foreign currency exchange rates; our ability to successfully develop new products,

technologies and service offerings and to protect our intellectual property rights; the risk that multi -year contracts with gove rnmental entities could be terminated prior to the end of the

contract term and that civil or criminal penalties and administrative sanctions could be imposed on us if we fail to comply w iththe terms of such contracts and applicable law; the risk

that partners, subcontractors and software vendors will not perform in a timely, quality manner; actions of competitors and o ur ability to promptly and effectively react to changing

technologies and customer expectations; our ability to obtain adequate pricing for our products and services and to maintain and improve cost efficiency of operations, including savings

from restructuring actions; the risk that confidential and/or individually identifiable information of ours, our customers, c lients and employees could be inadvertently disclosed or

disclosed as a result of a breach of our security systems due to cyber attacks or other intentional acts; reliance on third p arties, including subcontractors, for manufacturing of products

and provision of services; the exit of the United Kingdom from the European Union; our ability to manage changes in the print ingenvironment and expand equipment placements;

interest rates, cost of borrowing and access to credit markets; funding requirements associated with our employee pension and retiree health benefit plans; the risk that our operations