Xerox Holdings Investor Presentation — January 2021

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Q4 2020 RESULTS I JANUARY 26, 2021—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",

"projecting", "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 current beliefs, assumptions and expectations and are subject to a number o f factors that may

cause actual results to differ materially. Such factors include but are not limited to: the effects of the COVID -19 pandemic on our and our customers'

businesses and the duration and extent to which this will impact our future results of operations and overall financial perfo rmance; our ability to

address our business challenges in order to reverse revenue declines, reduce costs and increase productivity so that we can i nvest in and grow our

business; our ability to attract and retain key personnel; changes in economic and political conditions, trade protection mea sures, 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 abilit y to successfully develop

new products, technologies and service offerings and to protect our intellectual property rights; the risk that multi -year contr acts with governmental

entities could be terminated prior to the end of the contract term and that civil or criminal penalties and administrative sa nctions could be imposed on

us if we fail to comply with the terms of such contracts and applicable law; the risk that partners, subcontractors and softw arevendors will not

perform in a timely, quality manner; actions of competitors and our ability to promptly and effectively react to changing tec hnologies and customer

expectations; our ability to obtain adequate pricing for our products and services and to maintain and improve cost efficienc y of operations, including

savings from restructuring actions; the risk that confidential and/or individually identifiable information of ours, our cust omers, clients and employees

could be inadvertently disclosed or disclosed as a result of a breach of our security systems due to cyber attacks or other i ntentional acts; reliance on

third parties, including subcontractors, for manufacturing of products and provision of services; the exit of the United King dom from the European