Unisys Transfers ~$320M In Pension Liabilities To F&G Annuities & Life Annuity Purchase Transaction Is The First Step In Reducing ~$600M Of U.S. Qualified Defined Benefit Pension Plan Liabilities Through The End Of 2026; Expects ~$228M Q3 Non-Cash Charge

Consistent with Unisys' capital structure and pension strategy, this agreement removes pension liabilities at favorable pricing, further reducing the future cost of full removal of its U.S. pension liabilities

BLUE BELL, Pa., Sept. 29, 2025 /PRNewswire/ -- Unisys (NYSE: UIS) today announced it closed agreements with F&G Annuities & Life, Inc. ("F&G") to purchase group annuity contracts totaling approximately $320 million using plan assets. Unisys will transfer projected benefit obligations valued at a similar amount related to certain retirees under one of the Company's U.S. qualified pension plans to F&G.

As outlined in its July 24, 2025, investor presentation, this latest annuity purchase transaction is the first step in reducing approximately $600 million of U.S. qualified defined benefit pension plan liabilities through the end of 2026.

As part of the transfer, F&G's insurance subsidiaries, Fidelity & Guaranty Life Insurance Company and Fidelity & Guaranty Life Insurance Company of New York, will assume responsibility for pension benefits for approximately 3,150 retirees and beneficiaries with monthly benefits lower than certain thresholds. There will be no changes to the gross amount, timing, or form of the monthly pension benefit payments.

Unisys anticipates this action will result in a third-quarter 2025 one-time, non-cash, pre-tax settlement charge of approximately $228 million. Since the purchase will be made by the pension trust, there will be no impact on the Company's cash position.