EX-99.2

Safe Harbor Statement

This presentation and the accompanying notes contain statements about our future expectations, plans and prospects of

our business that constitute forward-looking statements for purposes of the safe harbor provisions under the Private

Securities Litigation Reform Act of 1995, including but not limited to our financial guidance, outlook, expectations, and

investment areas for the fiscal year 2014; the anticipated effects on our business of our strategy, including our pricing

strategy, and investments; and the anticipated development of our business, markets, and financial results in fiscal 2014

and beyond, including the performance of the businesses we acquire or invest in. Forward-looking projections and

expectations are inherently uncertain, are based on assumptions and judgments by management, and may turn out to be

wrong. Our actual results may differ materially from those indicated by these forward-looking statements as a result of

various important factors, including but not limited to flaws in

the assumptions and judgments upon which our projections

and guidance are based; our failure to execute our strategy; our

failure to make the investments in our business that we

plan to make or the failure of those investments to have the effects that we expect; our failure to identify and address the

causes of our revenue weakness; our failure to acquire new customers and enter new markets, retain our current

customers, and sell more products to current and new customers; our failure to manage the growth, changes, and

complexity of our business and expand our operations; costs and disruptions caused by acquisitions and strategic

investments; the failure of the businesses we acquire or invest in to perform as expected; the willingness of purchasers of

marketing services and products to shop online; currency fluctuations that affect our revenues and costs, including the

impact of our currency hedging strategies; unanticipated changes

in our market, customers or business; our failure to

promote and strengthen our brand; the failure of our current and

new marketing channels to attract customers;

competitive pressures; our failure to maintain compliance with the financial covenants in our revolving credit facility or to

pay our debts when due; costs and judgments resulting from litigation; changes in the laws and regulations or in the

interpretations of laws or regulations to which we are subject, including tax laws, or the institution of new laws or

regulations that affect our business; and general economic conditions. You can also find other factors described in our

Form

10-Q for the fiscal quarter ended December 31, 2013 and the other documents we periodically file with the U.S.

Securities and Exchange Commission.

Pricing & Channel Coordination Actions

Action

Why do it?

Short-Term Impact

Lower list prices while lowering

discounting

•

Meet higher expectations

desire for consistent

pricing

•

Makes sales and

promotions more

authentic when they do

happen

•

Drives lower engagement in

long-standing discount

channels: users are no longer

enticed by slashed prices or

constant flash sales

•

Attracts fewer new customers

albeit with higher potential LTV

•

Higher percentage of revenue

attributable to base product

Lower and more transparent

shipping prices

•

Clarity for customers

•

Brings practices inline

with e-commerce norms

•

Lower percentage of revenue

attributable to shipping

Elimination of many fees and

upsells (e.g. uploads, proofs)

•

Reduces customer

frustration

•

Lower revenue of high margin

items

More consistent promotions

•

More consistent

experience across

channels and customer

touch points

•

Lower revenues from those

channels where deep discounts

drove volume

Recent Acquisitions

People & Print Group, Pixartprinting

Attractive standalone cash flow return

projections

Distinct front end brands

Target: graphic professionals and local

printers who in turn serve small

businesses via high touch, locally

focused service offering

Will keep customer value proposition

differentiated vs. the Vistaprint brand

Shared back-end advantages

Large scale in small quantities

Anticipate long-term cash flow

improvements due to integration into a

common, software-driven, high-

efficiency manufacturing & supply

chain system

Q3 FY 2014: Key Financial Metrics

Quarter Ended 03/31/2014

Nine Months Ended 03/31/2014

Revenue

•

$286.2 million

-1% y/y growth

-1% y/y constant currency growth

•

$932.1 million

5% y/y growth

5% y/y constant currency growth

GAAP Net

Income*

•

$1.4 million

•

$0.04 Diluted EPS

decrease of 77% y/y

•

$42.6 million

4.6% net margin vs. 3.1% last year

increase of 57% y/y

•

$1.24 Diluted EPS

increase of 59% y/y

Non-GAAP

Adjusted Net

Income**

•

$8.3 million

•

$0.24 Non-GAAP Diluted EPS

decrease of 50% y/y

•

$77.0 million

8.3% net margin vs. 7.0% last year

increase of 25% y/y

•

$2.20 Non-GAAP Diluted EPS

increase of 26% y/y

Consolidated

0.5% net margin vs. 2.0% last year

decrease of 77% y/y

2.9% net margin vs. 5.9% last year

decrease of 51% y/y

GAAP net income attributable to Vistaprint N.V.

Non-GAAP adjusted net income and non-GAAP adjusted EPS exclude share-based compensation expense and its related tax effect,

amortization of acquired intangible assets, charges related to the alignment of Webs IP with our global operations, changes in

unrealized gains and losses on currency forward contracts, and unrealized currency transaction gains and losses on intercompany

financing arrangements and the related tax effect. Please see reconciliation to GAAP net income (loss) and EPS at the end of this

presentation.

Cash Flow & ROIC Highlights

Quarterly cash flows and investments (in millions)

Q3FY14

Q3FY13

YTD FY14

YTD FY13

Cash flow from operations

$3.1

$8.1

$98.0

$103.3

Free cash flow*

$(11.7)

$(5.5)

$36.5

$30.8

Capital expenditures

$11.8

$11.2

$54.0M

$66.5

as % of revenue

4.1%

3.9%

5.8%

7.5%

Trailing Twelve Month Return on Invested Capital** (GAAP)

14%

Trailing Twelve Month Return on Invested Capital** (Non-GAAP)

23%

18%

ROIC = NOPAT / (Debt + Equity –

Excess Cash)

Net operating profit after taxes (NOPAT)

Excess cash is cash and investments of 5% of last twelve month revenues

Operating leases have not been converted to debt

Non-GAAP TTM ROIC excludes share-based compensation expense and its related tax effect, amortization of acquired intangibles, charges related to

the alignment of Webs IP with our global operations, changes in unrealized gains and losses on currency forward contracts, and unrealized currency

transaction gains and losses on intercompany financing arrangements and the related tax effect

Excess cash definition updated in period ending 03/31/2013 and for prior periods.

Consolidated

Balance sheet (in millions, as of March 31, 2014)

Cash and cash equivalents

$46.5

FCF = Cash Flow from Operations – Capital Expenditures – Purchases of Intangible assets not related to acquisitions – Capitalized Software

Expenses

Geographic Segment Revenue -

Quarterly

(millions)

North America:

58% of total revenue

2% y/y growth

3% y/y constant currency

growth

Europe:

36% of total revenue

-4% y/y growth

-7% y/y constant currency

growth

Asia Pacific:

6% of total revenue

-3% y/y growth

10% y/y constant currency

growth

Q3 FY2014

Consolidated

$143.4

$144.2

$167.5

$163.0

$169.6

$164.8

$189.4

$166.1

$92.0

$89.7

$159.3

$108.3

$94.9

$94.7

$161.0

$104.2

$15.1

$17.5

$21.5

$16.4

$15.6

$20.3

$15.9

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

Q3 FY14

Asia

-Pacific

Europe

North America

Revenue results for the consolidated business, including Albumprinter and Webs results since respective acquisition dates. All Albumprinter revenue

included in European segment. All Webs revenue included in North American segment. All Japan JV revenue included in Asia-Pacific.

Constant-currency revenue growth is estimated by translating all non-U.S. dollar denominated revenue generated in the current period using the prior

year period’s average exchange rate for each currency to the U.S. dollar and excludes the impact of gains and losses on effective currency hedges

recognized in revenue for applicable periods.

Please see reconciliation to reported revenue growth rates at the end of this presentation.

Operational Metrics

(Includes Albumprinter and Webs)

Consolidated

*Albumprinter and Webs included starting Q3FY12

Also starting in the same period, a minor calculation methodology change was made in order to accommodate the

consolidation of metrics.

5.6

5.9

8.3

7.6

7.0

7.1

9.8

7.8

7.1

9.1

7.3

Orders (M)

FY11

FY12

FY12*

FY12

FY13

FY14

$37.75

$36.38

$34.61

$34.43

$35.69

$35.79

$35.72

$37.56

$39.08

$39.40

$40.92

$40.14

FY11

FY12

FY12*

FY12

FY13

FY14

Average Order Value

Operational Metrics

(Includes Albumprinter and Webs)

*Albumprinter and Webs included starting Q3FY12

Also starting in the same period, a minor calculation methodology change was made in order to accommodate the

consolidation of metrics.

New Customers

(million)

Implied COCA

Advertising as

% of Revenue

1.8

1.9

2.9

2.6

2.3

3.3

2.6

2.3

2.2

2.9

2.4

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

$26

$27

$26

$25

$28

$27

$26

$29

$28

$27

0 $

5 $

10 $

15 $

20 $

25 $

30 $

35 $

23%

24%

26%

25%

23%

26%

27%

24%

21%

23%

22%

23%

10%

15%

20%

25%

30%

35%

Consolidated

Historical Revenue Driver Metrics

(Includes Albumprinter and Webs)

16.9

*trailing twelve month at period end

16.8

15.0

15.8

16.6

17.0

17.1

16.9

5.4

5.7

6.1

6.4

6.5

6.7

6.9

7.0

9.6

10.1

10.5

10.4

10.0

9.8

FY12

FY13

FY14

TTM* Unique Customers (M)

New Customers Aquired in Period

Customers Repeating from Prior Periods

FY12

FY13

FY14

TTM Unique Customers (M)

15.0

15.8

16.6

16.9

17.0

17.1

16.9

16.8

TTM New

Customers (M)

9.6

10.1

10.5

10.4

10.0

9.8

TTM Repeating Customers (M)

5.4

5.7

6.1

6.4

6.5

6.7

6.9

7.0

As % of Unique Customers

TTM New Customers

64%

63%

62%

61%

59%

58%

TTM Repeating Customers

36%

37%

38%

39%

41%

42%

Y/Y

Growth

TTM Unique Customers

32%

33%

29%

19%

13%

-1%

TTM New

Customers

30%

31%

25%

15%

-5%

-7%

TTM Repeating Customers

34%

35%

37%

25%

20%

18%

13%

Implied

Retention**

47%

48%

45%

43%

42%

41%

**TTM repeating customers as % of year-ago unique customers

Starting in

FY12, impact of Albumprinter and Webs has been included.

Consolidated

Historical Revenue Driver Metrics

(Includes Albumprinter and Webs)

Average Customer Bookings:

*trailing twelve month at period end

$51

$50

$51

$52

$53

$98

$97

$96

$97

$98

$100

$101

$68

$67

$68

$69

$70

$72

$73

FY12

FY13

FY14

Average TTM* Bookings Per Unique

Customer (USD)

New

Repeat

Total

FY12

FY13

FY14

Average

TTM Bookings per

Unique Customer

$68

$67

$68

$69

$70

$72

$73

Average TTM Bookings per

New Customer

$51

$50

$51

$52

$53

Average TTM Bookings per

Repeat

Customer

$98

$97

$96

$97

$98

$100

$101

Y/Y

Growth

Average

TTM Bookings per

Unique

Customer

-6%

-8%

-6%

-1%

Average TTM Bookings per

New Customer

-7%

-9%

-6%

-2%

Average TTM Bookings per

Repeat Customer

-2%

-5%

-4%

-3%

-1%

Starting in

FY12, impact of Albumprinter and Webs has been included.

Consolidated

Revenue and EPS Guidance*

(as of January 29, 2014)

FY14

ending 06/30/2014

Revenue

$1,250 -

$1,270

Revenue growth from FY 2013 period

7% -

Constant currency revenue growth estimate

7% -

Constant currency revenue growth estimate excluding acquisitions

4% -

GAAP EPS

$1.00 -

$1.15

EPS growth from FY 2013 period

18% -

35%

GAAP share count

34.5 million

FY14

ending 06/30/2014

Non-GAAP adjusted EPS

$2.70 -

$2.85

EPS growth from FY 2013 period

26% –

33%

Non-GAAP share count

35.0 million

Non-GAAP exclusions

$59.4

* Millions, except share and per share amounts and as noted

Consolidated

The Company is providing the following assumptions to facilitate non-GAAP adjusted net income per diluted share comparisons that exclude share-based

compensation related expenses, amortization of acquired intangible assets, tax charges related to the alignment of IP with our global operations, changes in

unrealized gains and losses on currency forward contracts, unrealized currency transaction gains and losses on intercompany financing arrangements, and

the expected charge for the disposal of our minority investment in China:

Total Company Growth Rates*

*Starting in Q2FY2012, revenue from acquired companies included.

Please see reconciliation to reported revenue growth rates at the end of this presentation.

-1%

reported

-1%

constant-

currency

22% constant-

currency growth

FY11

FY12

25% constant-currency growth

FY13

16% constant-currency growth

Consolidated

YTD FY14

5% constant-currency growth

-5%

10%

15%

20%

25%

30%

Q4 FY11

Q1 FY12

Q2 FY12*

Q3 FY12

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

Q3 FY14

Constant-Currency

Reported

Note: Constant-currency revenue growth is estimated by translating all non-U.S. dollar denominated revenue generated in the

current period using the prior year period’s average exchange rate for each currency to the U.S. dollar and excludes the impact of

gains and losses on effective currency hedges recognized in revenue for applicable periods.

Segment Revenue Growth Rates*

Constant Currency

*Starting in Q2FY2012, revenue from acquired companies included.

Please see reconciliation to reported revenue growth rates at the end of this presentation.

Consolidated

Note: Constant-currency revenue growth is estimated by translating all non-U.S. dollar denominated revenue generated in the current

period using the prior year period’s average exchange rate for each currency to the U.S. dollar and excludes the impact of gains and

losses on effective currency hedges recognized in revenue for applicable periods.

39%

45%

37%

40%

33%

29%

24%

10%

-10%

10%

20%

30%

40%

50%

APAC

22%

21%

37%

34%

30%

23%

14%

-2%

-7%

-10%

10%

20%

30%

40%

50%

Europe

18%

17%

20%

23%

21%

22%

20%

15%

18%

15%

14%

-10%

10%

20%

30%

40%

50%

North America

Non-GAAP Adjusted Net Income*

and Non-GAAP Adjusted Net Margin

*Non-GAAP adjusted net income for all periods presented excludes the impact of share-based compensation expense and its

related tax effect, amortization of acquired intangibles, charges related to the alignment of Webs IP with our global structure,

changes in unrealized gains and losses on currency forward contracts, and unrealized currency transaction gains and losses on

intercompany financing arrangements and the related tax effect. Please see reconciliation to GAAP net income at the end of this

presentation.

FY11 $105

FY12 $77

FY13 $76

YTD FY14 $77

$20

$13

$38

$11

$15

$36

$17

$14

$16

$53

9.4%

6.1%

12.6%

4.4%

5.9%

3.5%

10.3%

5.9%

14.2%

2.9%

Q4 FY11

Q1 FY12

Q2 FY12

Q3 FY12

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

Q3 FY14

Non-GAAP Adjusted Net Income (millions)

Non-GAAP Adjusted Net Margin

5.0%

Consolidated

Balance Sheet Highlights

Balance Sheet highlights, in millions, at period end

03/31/2014

12/31/13

09/30/2013

06/30/13

03/31/13

Total assets

$672.0

$674.6

$638.7

$601.6

$616.4

Cash and cash equivalents

$46.5

$62.3

$64.7

$50.1

$51.3

Total current assets

$126.0

$135.5

$121.8

$100.2

$104.4

Goodwill and intangible assets

$169.2

$171.6

$171.5

$171.2

$174.3

Total liabilities

$393.9

$414.4

$432.0

$412.0

$414.7

Current liabilities

$177.4

$197.9

$144.3

$155.0

$154.0

Long-term debt

$185.6

$189.3

$262.5

$230.0

$229.0

Shareholders’

Equity

$272.4

$260.3

$206.7

$189.6

$201.7

Treasury shares (in millions)

10.8

10.9

11.0

11.3

10.9

Consolidated

Total Debt as of March 31, 2014

Availability under our credit facility ($ millions)*

03/31/14

Pro Forma for

Acquisitions

(approximate)

Aggregate loan commitments

798.0

Outstanding borrowings

(202.0)

(434.8)

Remaining amount

596.0

363.2

Limitations to borrowing due to debt covenants and other

obligations*

(294.6)

(213.2)

Amount available for borrowing as of March 31, 2014

301.4

150.0

* Our borrowing ability can be limited by our debt covenants each quarter. These covenants may limit our borrowing capacity depending on

our leverage, other indebtedness, such as installment obligations and letters of credit, and other factors that are outlined in our credit

agreement filed as an exhibit in our Form 8-Ks filed on February 13, 2013 and January 22, 2014.

Consolidated

•

Aggregate loan commitments of $798.0M

•

Interest rate of LIBOR plus 1.50% - 2.0%, depending on leverage

•

Currently in compliance with all covenants. Key financial covenants are:

o

Total leverage ratio not to exceed 3.25x TTM EBITDA (reducing to 3.0x on 3/31/15).

o

Interest coverage ratio of at least 3.0x TTM EBITDA.

•

Purchases of our ordinary shares, payments of dividends, and mergers and acquisitions are subject to more restrictive

consolidated leverage ratio thresholds than those listed above when calculated on a proforma basis in certain scenarios.

Also our credit agreement limits the amount of purchases of our ordinary shares, payments of dividends, mergers and

acquisitions, investments in joint ventures or minority interests, and consolidated capital expenditures that we may make.

These limitations can include annual limits that vary from year-to-year and aggregate limits over the term of the credit

facility. Therefore, our ability to make desired investments may be limited during the term of our revolving credit facility.

About

non-GAAP financial measures

To supplement Vistaprint’s consolidated financial statements presented in accordance with

U.S. generally accepted

accounting principles, or GAAP, Vistaprint has used the following measures defined as non-GAAP financial measures by

Securities and Exchange Commission, or SEC, rules: non-GAAP adjusted net income, non-GAAP adjusted net income

per diluted share, free cash flow and constant-currency revenue growth. The items excluded from the non-GAAP

adjusted net income measurements are share-based compensation expense and its related tax effect, amortization of

acquisition-related intangibles, tax charges related to the alignment of acquisition-related intellectual property with global

operations, changes in unrealized gains and losses on currency forward contracts, unrealized currency transaction gains

and losses on intercompany financing arrangements and the related tax effect, and the expected charge for the disposal

of our minority investment in China. Free cash flow is defined as net cash provided by operating activities less

purchases of property, plant and equipment, purchases of intangible assets not related to acquisitions, and capitalization

of software and website development costs. Constant-currency revenue growth is estimated by translating all non-U.S.

dollar denominated revenue generated in the current period using

the prior year period’s average exchange rate for each

currency to the U.S. dollar and excludes the impact of gains and

losses on effective currency hedges recognized in

revenue in the prior year periods.

The presentation of non-GAAP financial information is not intended to be considered in isolation or as a substitute for the

financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP

financial

measures,

please

see

the

tables

captioned

“Reconciliations

Non-GAAP

Financial

Measures”

included

the

end of this release. The tables have more details on the GAAP financial measures that are most directly comparable to

non-GAAP financial measures and the related reconciliation between these financial measures.

Vistaprint’s management believes that these non-GAAP financial measures provide meaningful supplemental

information in assessing our performance and liquidity by excluding certain items that may not be indicative of our

recurring core business operating results, which could be non-cash charges or discrete cash charges that are infrequent

in nature. These non-GAAP financial measures also have facilitated management’s internal comparisons to Vistaprint’s

historical performance and our competitors’

operating results.

Reconciliation: GAAP to Non-GAAP Results

FY 2003

FY 2004

FY 2005*

FY 2006

FY 2007

FY 2008

FY 2009

FY2010

FY2011

FY2012

FY2013

GAAP Net Income

$473

$3,440

($16,218)

$19,234

$27,143

$39,831

$55,686

$67,741

$82,109

$43,994

$29,435

Share-based

compensation and

related tax effect

$4,850

$8,765

$15,275

$20,177

$23,156

$22,400

$26,060

$33,662

Amortization of

acquired intangible

assets

$5,754

$10,361

Tax Impact of Webs

IP transfer

$1,235

$2,387

Non-GAAP

Adjusted Net Income

$473

$3,440

$4,782

$23,146

$35,908

$55,106

$75,863

$90,897

$104,509

$77,043

$75,845

Net Income (Loss) –

Annual

($ in thousands)

*Fiscal 2005 non-GAAP results exclude a contract termination payment of $21mm

Reconciliation: GAAP to Non-GAAP Results

($ in thousands)

Fiscal

Year 2011

Fiscal Year 2012

Fiscal Year 2013

FY2014

GAAP Net Income*

$14,397

$8,172

$31,697

$274

$3,851

$(1,696)

$22,960

$5,866

$2,305

$412

$40,875

$1,376

Share-based

compensation and

related tax effect

$5,129

$4,876

$5,021

$7,566

$8,596

$8,445

$8,540

$8,353

$8,324

$8,576

$8,062

$5,773

Amortization of

acquired intangible

assets

$1,148

$2,381

$2,225

$2,178

$2,243

$2,275

$3,665

$2,200

$2,249

$2,228

Tax Impact of

Webs IP Transfer

$1,017

$218

$2,164

$431

($208)

$63

$1,468

$312

Changes in

unrealized (gain)

loss on currency

forward contracts

included in net

income

$4,856

$(1,155)

$(1,131)

Unrealized

currency

transaction loss

(gain) on

intercompany loan

and the related tax

effect

$1,163

$(283)

Non-GAAP

Adjusted Net

Income

$19,526

$13,048

$37,866

$11,238

$14,890

$8,927

$35,907

$16,925

$14,086

$16,107

$52,662

$8,274

* GAAP net income attributable to Vistaprint N.V.

Net Income (Loss) – Quarterly

Reconciliation: GAAP to Non-GAAP Results

Diluted

Earnings

Per

Annual

FY 2006

FY 2007

FY 2008

FY 2009

FY2010

FY2011

FY2012

FY2013

GAAP Net Income per share

$0.45

$0.60

$0.87

$1.25

$1.49

$1.83

$1.13

$0.85

Share-based Compensation and

related tax effect per share

$0.09

$0.18

$0.31

$0.43

$0.49

$0.47

$0.65

$0.95

Amortization of acquired

intangible assets per share

$0.14

$0.29

Tax Impact of Webs IP Transfer

per share

$0.03

$0.06

Non-GAAP Adjusted Net

Income per share

$0.54

$0.78

$1.18

$1.68

$1.98

$2.30

$1.95

$2.15

Weighted average shares used

in computing Non-

GAAP EPS

42.651

45.825

46.780

45.099

45.989

45.448

39.426

35.201

(millions)

Reconciliation: GAAP to Non-GAAP Results

Earnings

Per

Diluted

Quarterly

Fiscal

Year 2011

Fiscal Year 2012

Fiscal Year 2013

FY2014

GAAP Net Income per

$0.32

$0.19

$0.82

$0.01

$0.10

$(0.05)

$0.66

$0.17

$0.07

$0.01

$1.18

$0.04

Share-based Compensation

and related tax effect per

$0.11

$0.12

$0.20

$0.23

$0.24

$0.25

$0.22

$0.17

Amortization of acquired

intangible assets per share

$0.03

$0.06

$0.11

$0.06

Tax impact of Webs IP

Transfer per share

$0.02

$0.01

$0.06

$0.01

$(0.01)

$0.00

$0.04

$0.01

Changes in unrealized

(gain) loss on currency

forward contracts included

in net income per share

$0.13

$(0.03)

Unrealized currency

transaction loss (gain) on

intercompany loan and the

related tax effect per share

$0.00

$0.03

$(0.01)

Non-GAAP Adjusted Net

Income per share

$0.43

$0.31

$0.97

$0.29

$0.40

$0.25

$1.02

$0.48

$0.41

$0.45

$1.50

$0.24

Weighted average shares

used in computing Non-

GAAP EPS

(millions)

45.156

42.569

39.041

38.346

37.620

35.793

35.156

35.217

34.633

35.005

35.118

34.857

Reconciliation: Free Cash Flow

(in thousands)

Three Months Ended

Nine Months Ended

March 31,

2014

2013

2014

2013

Net cash provided by operating activities

$ 3,142

$ 8,135

$ 98,046

$ 103,318

Purchases of property, plant and

equipment

(11,830)

(11,155)

(53,999)

(66,523)

Purchases of intangibles assets

(83)

(82)

(202)

(452)

Capitalization of software and website

development costs

(2,920)

(2,439)

(7,339)

(5,579)

Free cash flow

$ (11,691)

$ (5,541)

$ 36,506

$ 30,764

Reconciliation:

Constant-Currency Revenue Growth Rates

Quarterly

ASIA-PACIFIC

Q4 FY11

Q1 FY12

Q2 FY12

Q3 FY12

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

Q3 FY14

Reported revenue growth

65%

67%

41%

47%

28%

26%

(11%)

(5%)

(3%)

Currency impact

(26%)

(22%)

(4%)

(7%)

(3%)

13%

11%

13%

Revenue growth in constant

currency

39%

45%

37%

40%

33%

29%

24%

10%

Note: Constant-currency revenue growth is estimated by translating all non-U.S. dollar denominated revenue generated in the current period using the prior year period’s

average exchange rate for each currency to the U.S. dollar and excludes the impact of gains and losses on effective currency hedges recognized in revenue for applicable

periods.

EUROPE

Q4 FY11

Q1 FY12

Q2 FY12

Q3 FY12

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

Q3 FY14

Reported revenue growth

38%

31%

36%

29%

18%

12%

11%

(4%)

Currency impact

(15%)

(10%)

12%

11%

(1%)

(4%)

(3%)

Revenue growth in constant

currency

22%

21%

37%

34%

30%

23%

14%

(2%)

(7%)

Reconciliation:

Constant-Currency Revenue Growth Rates

Quarterly

NORTH AMERICA

Q4 FY11

Q1 FY12

Q2 FY12

Q3 FY12

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

Q3 FY14

Reported revenue growth

18%

17%

20%

23%

20%

22%

20%

15%

18%

14%

13%

Currency impact

Revenue growth in constant

currency

18%

17%

20%

23%

21%

22%

20%

15%

18%

15%

14%

Note: Constant-currency revenue growth is estimated by translating all non-U.S. dollar denominated revenue generated in the current period using the prior year period’s

average exchange rate for each currency to the U.S. dollar and excludes the impact of gains and losses on effective currency hedges recognized in revenue for applicable

periods.

TOTAL COMPANY

Q4 FY11

Q1 FY12

Q2 FY12

Q3 FY12

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

Q3 FY14

Reported revenue growth

27%

25%

28%

26%

20%

18%

16%

12%

(1%)

Currency impact

(7%)

(5%)

Revenue growth in constant

currency

20%

28%

25%

23%

17%

12%

(1%)