Prepared Remarks: Q1 2022 Amdocs Earnings Conference Call

AMDOCS Q1 2022 CONFERENCE CALL SCRIPT

February 1, 2022

5:00 pm

Matthew Smith

Slide 2: Disclaimer

Thank you, operator. Before we begin, I need to call your attention to our disclaimer statement on slide 2 of the presentation. It notes that some of our comments today may be forward-looking statements and are subject to risks and uncertainties as described in Amdocs' SEC filings and that we will discuss certain financial information that is not prepared in accordance with GAAP. For more information regarding our use of non- GAAP financial measures, including reconciliations of these measures, we refer you to today's earnings release, which will also be furnished with the SEC on Form 6-K.

Slide 3: Today's Speakers

Participating on the call with me today are Shuky Sheffer, President and Chief Executive Officer of Amdocs Management Limited and Tamar Rapaport-Dagim, joint Chief Financial and Operating Officer.

Slide 4: Earnings Call Agenda

Consistent with last quarter, to support today's earnings call we are providing a presentation which can be found on the Investor Relations section of our website, and, as always, a copy of today's prepared remarks will also be posted immediately following the conclusion of this call.

On today's agenda, Shuky will provide an update on our recent strategic progress and business performance, and Tamar will review our financial results and our positive outlook for fiscal year 2022.

And with that, I'll turn it over to Shuky.

Slide 5: Shuky Sheffer

Shuky Sheffer, Chief Executive Officer

Thanks, Matt, and good afternoon to everyone joining us on the call today.

Slide 6: Strategy & Business Performance Update

I will start today's call by recapping our business and financial achievements for the first quarter fiscal 2022.

Second, I will update you on the main pillars of our strategic growth framework and the continued progress we have made in the past quarter.

I will wrap up by discussing our financial outlook, including our expectations for continuous revenue growth in fiscal years 2023 and 2024 which we are providing today.

FINAL

Tamar will then provide additional details on our first quarter financial performance and guidance.

As a reminder, our comments today will refer to certain financial metrics on a pro forma basis where applicable to provide you with a sense of the underlying business trends excluding the financial impact of OpenMarket, which we divested on December 31st, 2020.

Slide 7: Great Start to FY2022

So, let's get going. Turning to slide 7, I am proud to report a greatstart to fiscal year 2022.

At our analyst and investor business update last November, we outlined our strategy to deliver accelerated revenue growth by bringing market-leadinginnovation designed to meet the industry's need for digital modernization, 5G monetization, journey to the cloud and network automation.

Based on our first quarter performance, I believe our strategy is continuously gaining traction in the market, evidenced by another quarter of strong sales momentum across long-standing global customers such as AT&T, T-Mobile,Vodafone, Globe Telecom, and others.

Additionally, we penetrated several new logos that support our ongoing growth and regional expansion, including PPF Group in Europe and Vodacom in Africa.

Our customer's investments in industry megatrends like 5G and cloud are gathering pace and translating to strong demand for our products and services. The relevancy of our offerings to the market results from our past and ongoing commitment to R&D investment which further extends our technological leadership and brings cutting- edge innovation to our customers.

To add a further point, I believe our capacity to win new business is a function of our unrivalled reputation for project delivery, as demonstrated by yet another record quarter for the number of deployment milestones achieved for our customers in Q1.

M&A is another important tool we use strategically to accelerate our capabilities in key growth areas.

• Focusing on our cloud strategy, I am delighted to announce our acquisition of DevOpsGroup, a boutique UK-based cloud company specializing in engineering, consultancy and training services for enterprises implementing cloud and DevOps. DevOpsGroup geographically complements the high-end expertise we acquired with last year's acquisition of Sourced Group and further strengthens our professional services organization to support all aspects of our customers cloud journey including consulting, cloud-native software, migration of

2

FINAL

Amdocs and non-Amdocs applications, ongoing development and cloud operations.

Slide 8: Enriching Lives, Progressing Society

Overall, I am proud of our progress in Q1 which we achieved while striving to improve the lives of people in our communities.

• Slide 8 highlights just some of our many initiatives. Demonstrating our commitment to a green environment, we recently completed a cloud migration project to support improved air quality in London by expanding the city's ultra-low emissions zone.
• Amdocs Mexico was recognized by the NGO Human Rights Campaign as one of
  Mexico's Best Places to work for LGBTQ+ for 2021, and our deep commitment to diversity was recognized by the Peruvian Government for promoting an inclusive society in which people with disabilities achieve full development. Amdocs Israel also won the 'Diversity in business' prestigious award, for our work to promote employability of the Arab minority in the tech industry.

As a mark of our commitment to sustainability and corporate responsibility, Amdocs was recently honored to be included on the prestigious S&P Dow Jones Sustainability Index for North America for the third consecutive year, placing us amongst the top 15% of companies in our industry based on long-term economic, environmental, and social criteria.

Slide 9: Committed to our People

I believe such recognition is a testament to Amdocs' identity and reflects the values held by our 29,000 people worldwide. I would like to take this opportunity to extend a warm welcome to all those who have recently joined the Amdocs family, and my sincere thanks to all our people for their dedication, resilience, and commitment to ensuring a great start to our fiscal year.

Slide 10: Strong Performance in Q1-FY2022

Our great start to fiscal year 2022 is reflected in our Q1 financial performance, the key highlights of which are on slide 10.

• We delivered recordrevenue of $1.1 billion, up 10.6% on a pro forma constant currency basis, and led by our best-ever quarter in North America where we continue to see high activity levels across our top customers.
• Strong sales momentum was reflected in record12-month backlog of $3.8 billion which was up $140 million sequentially and 9.7% from a year ago.
• On the bottom-line, we delivered non-GAAP earnings per share of $1.20, which was at the higher end of our Q1 guidance range.

3

FINAL

Slide 11: Progress in Strategic Domains

Now, let me update you on the recent progress we have made against our strategic imperatives, as presented on slide 11.

To remind you, our growth strategy is intentional and focused. As industry leaders around the world look to drive growth and monetize 5G, they rely on our market-leading innovation to deliver unparalleled experiences to their consumer and enterprise customers. Our key innovation enablers include:

• End-to-endcloud platforms and services that ensure operational agility, scalability and ultimately, cloud at scale
• Monetization of new 5G services like ultra low-latency connectivity, immersive entertainment, and connected industries
• Creating seamless digital experiences by transforming IT operations and re- inventing user interactions, and
• Delivering dynamic connected experiences with real-time,automated networks

Beginning with cloud, I am proud to announce twokey awards this quarter:

• First, we were selected as T-Mobile's partner to shift non-Amdocs applications to the public cloud, thereby expanding our activities in support of T-Mobile'smulti-year cloud journey. Additionally, we are very excited to report a multi-year deal with T-Mobile to deploy and operate DataONE, our data intelligence platform.
• Second, we are thrilled to announce that PPF Group awarded us a digital, cloud managed transformation of its next gen business support systems across all lines of business, under which Amdocs will provide its wide set of cloud-native products to be operated on a public cloud as part of a long-termmulti-country agreement. This award demonstrates Amdocs' ability to expand internationally by penetrating new logos, and we look forward to supporting PPF's 18 million subscribers across Bulgaria, Hungary, Serbia, and others.

In 5G monetization, Amdocs' Openet 5G charging and policy solution was chosen by Vodacom, a new logo in Africa which we are supporting to enable the quicker launch of new products, services, and tariffs for its operations in Tanzania, Mozambique, and the Democratic Republic of Congo.

• In Malta, we extended an agreement with Melita Limited to provide charging solutions that will expand its range of IoT and 5G offerings for consumer and business customers.

4

FINAL

• Additionally, we announced a collaboration with Samsung Electronics America to deliver end-to-end 4G and 5G private network solutions to help U.S. enterprises across key industries to unlock next-generation use cases and to help close the digital divide in hard-to-reach locations.

Turning to digital modernization, we are happy to announce two new North American logos in Q1, including:

• Summit Broadband, a Florida-based service provider which has selected Amdocs for a multi-year deal to uplift their BSS and OSS ecosystem, and
• Consumer Cellular, a postpaid mobile virtual network operator from Portland, Oregon which selected Amdocs eSIM solution.
• Additionally, Vodafone Turkey selected Amdocs for a three-year deal to provide end-to-end quality engineering services that will quickly develop, test and bring to market new products and services for the benefit of its customers.

Moving to Network Automation, I am excited to share that twotier 1 North American customers, including Lumen,have recently elected to modernize and upgrade on our cloud-native,next-generation 5G network and services orchestration platform.

• Additionally, we today announced a three-year deal with Globe Telecom in the Philippines to provide radio access network optimization services to accelerate the expansion of its 4G and 5G networks, and the time to market launching new services.

Finally, let me quickly highlight Amdocs Media which continues to expand outside North America.

• In Indonesia, we extended a multi-year agreement with XL Axiata which selected our SaaS-based Amdocs MarketONE platform to offer its customers seamless access to international, local, and regional content services.
• Additionally, Amdocs recently worked with Astro, a leading Southeast Asia Media and entertainment company, to successfully launch new content and broadband bundles, including Netflix, to provide customers with premium and affordable entertainment in a streaming world.

Slide 12: Looking ahead: Providing FY2022-2024Revenue Growth OutlookNow, turning to slide 12, and our financial outlook.

Let me begin by addressing the revenue growth projections we are providing today for the three fiscal years 2022 through 2024.

5