NCR Corporation

Investor PresentationSecond Quarter 2007

2

Note to InvestorsCertain non-GAAP financial information regarding

NCR’s operating results may be discussed during this presentation. Reconciliations of the differences between GAAP and non-GAAP measures are available on the Investor page of NCR’s website at www.ncr.com.

Remarks and responses associated with this presentation include forward-looking statements that are based on current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to vary materially.

These risk factors are detailed from time to time in NCR’s SEC reports, including, but not limited to, Forms 10Q, 10K, 8K and the company’s annual report to shareholders.

3

23%

14%

28%

7%

3%

25%

Retail Store Automation(POS, self-checkout,

airport & hotel check-in)

Teradata Data Warehousing(includes hardware, software

and support services)

Financial Self Service(ATMs)

Payment and Imaging(check processing)

Systemedia(business consumables)

NCR’s Business Portfolio

2006 Revenue Mix

Customer Services(supports NCR andthird-party solutions)

$6.1B

4

Continued Operating Improvement

During the past few years, NCR has realigned/reduced its infrastructure cost, and positively changed its revenue mix towards higher margin products and services.

($ Millions)

5,000

5,500

6,000

6,500

1999

2000

2001

2002

2003

2004

2005

2006

0

100

200

300

400

500

600

1999

2000

2001

2002

2003

2004

2005

2006

RevenueNon-Pension

Operating Income*

*NPOI - Non-pension operating income (operating income before pension income/expense) Also excludes special items

5

Earnings Expansion

2002 2003 2004 2005 2006

$6.0 B $6.1 B

$618M

10%

$(136M)

$473M

8%

$2.13

$553M

9%

$(131M)

$410M

7%

$1.68

$5.6 B

$235M

4%

$(105M)

$130M

2%

$0.42

Revenue $5.6 B $5.9 B

NPOI1

% of revenue$136M

2%

$367M

6%

Pension Income/ (Expense)2

$74M $(135M)

Operating Income

% of revenue

$189M

3%

$232M

4%

EPS2 $0.68 $0.95

1Non-pension operating income is operating income before pension income/expense2Excludes special items, Non-GAAP results; see www.ncr.com for GAAP to Non-GAAP reconciliation

6

Strategic Separation

Global Leader in Enterprise Data Warehousing– #1 in Data Warehousing

– Gartner

The New NCRGlobal Leader in Self-Service– #1 in self-service ATMs

– Retail Banking Report (RBR)

– #1 in self-checkout– Venture Development Corp.

– #1 in self-service kiosks– Frost & Sullivan

7

Revenue

0

400

800

1,200

1,600

'99 '00 '01 '02 '03 '04 '05 '06 '07G*

Teradata Data WarehousingInvesting for Future Growth

• Leader in Enterprise Data Warehousing (EDW)

-Unique, specialized, market-leading technology & architecture

• Increasing demand for enterprise analytics

–more data, faster decisions

• Companies regularly upgrade–as they add data, users, and more complex queries

• Competition– IBM– Oracle

NPOI**

-200

-100

0

100

200

300

400

'99 '00 '01 '02 '03 '04 '05 '06 '07G*

*Guidance from 4/26/2007. 2007 Guidance assumes combined company for entire year. Does not include special charges or incremental costs relating to strategic separation.

**NPOI: Non-pension operating income (operating income before pension income/expense)

($M)

($M)

9%12%

16%

21%22%

22-23%

7-9% Growth

8

Proliferation of Fragmented Analytics –

Hundreds of Source Systems Thousands of Users/Depts.

Pricing

Engineering

Maintenance

Call Center

Sales

Accts. Payable

Accts. Receivable

Invoicing

Sales/Orders

Finance G/L

Customer Support

HR

Payroll

Purchasing

Order Fulfillment

Manufacturing

Inventory …

Marketing

Finance

Benefits

Risk Management

Forecasting

Data Marts

Redundant Data, Higher Costs, Poor Decisions

9

Leaders are Implementing an EDW –Lower Cost, Consistency of Data

Pricing

Hundreds of Source Systems Thousands of Users/Depts.

Engineering

Maintenance

Call Center

Sales

Accts. Payable

Accts. Receivable

Invoicing

Sales/Orders

Finance G/L

Customer Support

HR

Payroll

Purchasing

Order Fulfillment

Manufacturing

Inventory …

Marketing

Finance

Benefits

Risk Management

Forecasting

EnterpriseData

Warehouse(EDW)

10

Operational/ERP Applications...Order processing, Financials, Sales Force Automation...

Oracle/PeopleSoft/Retek, SAP, Siebel,

Transaction Systems Help Run the Business

Enterprise Analytic Systems Help Drive Business Decisions

Business Intelligence Tools & Applications...

Business Objects, Cognos, Hyperion, Fair Isaac, MicroStrategy, SAS, SPSS,

Unica, Teradata

Oracle, IBM, Microsoft...

Servers, Storage...Servers, Storage...

Accenture

BearingPoint

CapGemini

Cognizant

IBM

Systems Integrators...

Data Acquisition & Integration

Informatica, (IBM)Ascential, Trillium

Enterprise Application IntegrationTIBCO

Analytic Databases...

Enterprise Data

Warehouse

Teradata, IBM

Teradata

IBM

Technical Consulting...

Transaction & Special Purpose Databases...

Netezza, Data Allegro...

11

Enterprise Analytics Market($30B)

2006 Data Warehouse Infrastructure Market for the Global 3000 $18B

Three Ways to Grow1) Penetrate data warehouse

market and move customers to EDW Approach

2) Continually grow existing Teradata EDWs

3) Replace competitor EDWs

Significant Growth Opportunity in Data Warehouse Market

Transactional Systems

Data Integration Tools

Data Warehouse Infrastructure

Data Mining & BI Tools

Non EDW $14B

TeradataEDW$4B

Analytic Applications

Types of spend includes database, hardware, consulting and support services Source: IDC, Gartner, Teradata Analysis

23 1

12

Data Sophistication

Continuous update and time-sensitive queries

become important

OPERATIONALIZINGWHAT IS happening?

Event-based triggering takes hold

ACTIVATINGMAKE it happen!

Primarily batch andsome ad hoc reports

Increase in ad hoc analysis

ANALYZINGWHY

did it happen?

REPORTINGWHAT

happened?Analytical modeling

grows

PREDICTINGWHAT WILL

happen?

Batch

Ad Hoc

Analytics

Continuous Update/Short Queries

Event-Based Triggering

Data Warehouse Needs Will Evolve

• Query complexity grows• Workload mixture grows• Data volume grows• Schema complexity grows• Depth of history grows• Number of users grows • Expectations grow

Wo

rklo

ad

Co

mp

lexit

y

Single View of the Business – Better, Faster Decisions – Drive Business Growth

13

15-20%

Future Growth Opportunities

Retail Comm Fin Tvl/Trans Ins Manf

New CustomersInstalled Base

80-85%

Revenue Contribution• Installed base drives 80%+ of Teradata Revenues

• New customers typically increase the size and scope of their data warehouses over time… creating an annuity-like revenue stream

Targeted ProspectsExisting Customers

• Historical concentration in Retail and Telecommunications Industries, making progress in penetrating new industry verticals

Global 3000 Penetration

14

Self Service Solution

Bill PaymentHotel Check-

In / Out Food Order

Hardware

Application

Human Factors Engineering

Implementation Support

Industry Consultancy

Self Service Solution ComponentsSelf Service Solution Components

Retail Self Check-Out

Airport Ticketing/Travel

Increasing Use of Self-Service Technologies

ATMs

15

Financial Self Service (ATMs)Focus on Profitability

• Good market… with continued growth potential• Protect/improve profitability while capturing fair share of

market growth• Opportunity to improve maintenance services capture rate

Revenue opportunities• New solutions enabled through

technology leadership• Sales coverage expansion• Increase in R&D investment/efficiency• Manufacturing capacity alignment

Operating Income Improvement• Product cost reduction• Supply chain improvement• Infrastructure expense reduction

Competition• Diebold• Wincor/Nixdorf

*Guidance from 4/26/2007. 2007 Guidance assumes combined company for entire year. Does not include special charges or incremental costs relating to strategic separation

**Non-pension Operating Income - operating income before pension income/expense

1,0951,149

1,370 1,390 1,423

14%

12%11%

14%

16%15%

2002 2003 2004 2005 2006 2007G*

Revenue and NPOI** Margin

Shown in $M

3-4% Growth

16

ATM Revenue Demand Drivers

• Demand for Deposit Automation - Increasing Around the World– Automated deposit and processing of checks – US

• Check 21 should drive upgrades in the US in late 2007, continuing through 2009

– Automated deposit of cash – Europe leading upgrade cycle– Deposit/Recycling – especially evident in cash-based

countries in Europe & Asia

• Low Penetration in Emerging and Growth Markets Provides Growth Opportunity

USA W.Europe China India Russia

Population (in Ms) 298 464 1,314 1,095 143

ATMs/Million 1,353 707 73 19 195

17

Personas M Series:Delivering Unparalleled Flexibility

• Widest range of configurations: functionality and placements• Intelligent Deposit: Check, Cash and Recycling• Easy to upgrade...with deposit automation modules• User-centered design for maximum adoption• Expanded capacity, statement printer, passbook printer

RecycleCash In/Out

Cas

h R

ecyc

ler

CashDispense

Cas

h D

ispen

se

CashDeposit

Cas

h A

ccep

t

Cash Dispense,

Cash Accept

Cas

h A

ccep

t

Cas

h D

ispen

se

Cash Dispense,Recycle

Cash In/Out

Cas

h R

ecyc

ler

Cas

h D

ispen

se

Cash Dispense,Envelope Deposit

Enve

lope

Cas

h D

ispen

se

Dual Capacity

Cash Dispense

Cas

h D

ispen

se

Cas

h D

ispen

se

Cash Dispense,

Cash Accept, Check Accept

Cas

h A

ccep

t

Cas

h D

ispen

se

Traditional Deposit Automation Recycling

18

714

797

864 853 871

4%3%

0%

-8%

4%5%

2002 2003 2004 2005 2006 2007G*

Retail Store AutomationEmerging Self-Service Growth Opportunity

• Market Leader– Unmatched industry knowledge– Broadest solution portfolio – Complete product refresh

• Growth opportunity in “self-service” technology as it becomes widely accepted by consumers

• Portfolio of industry-testedretail solutions

– Flexible point-of-sale (POS) terminals

– Industry-leading self-service solutions, such as self-checkout, self-ticketing, and kiosks

– Global leader in bi-optic scanners

• Competition– POS: IBM, Wincor, Fujitsu – Self-Checkout: IBM, Fujitsu– Scanners: PSC

Revenues and NPOI** Margin

Shown in $M

4-5% Growth

*Guidance from 4/26/2007. 2007 Guidance assumes combined company for entire year. Does not include special charges or incremental costs relating to strategic separation

**Non-pension Operating Income - operating income before pension income/expense

19

Store of the Future

Checkout

Customer Services

Rece

ivin

g

Back Office

Core Merchandise

Food Service

Fitting Rooms

Banking

Garden Center

Loyalty

Self Checkout

Special Services

SmartShelves

Financial Services/ATM

Back OfficeSystems

Supply ChainSystems

Front OfficeSystems

Supply Chain

Corporate HQ

Store Support

Data Warehouse

Price Optimization

RFID Receiving

RFID Portal

Self-Service technology provides strategic solutionsSelf-Service technology provides strategic solutions

Product Locator & Extension Kiosks

Food Order Express

Travel Services

Pharmacy & Physician

Pharmacy & HealthCare

20

Customer ServicesPrevious Strategy

Inconsistentservice quality and profitability levels

Diffusedservice strategy

that added cost tothe infrastructure

eBusinessSupport

Bloated infrastructure withincompatible systems

and duplication of effort

3rd Party

Products

NCR Logo’dProducts

Now, focusing on maintenance of NCR productsNow, focusing on maintenance of NCR products

21

# OF CALL CENTERS

2001 75

2006 12

FIELD ORGANIZATIONSTRUCTURE

Common organization model implemented in 4 Regions & 17 Areas

Operational Excellence: CS DeliveryAreas of Progress

SERVICE DELIVERY

2006 $107 4.0 85.2%

2001 $151 3.2 84.0%

CallsPer CE

SLAResolution

Cost PerHour

LOGISTICS

*FX Neutral

2006 $350M $180M 76.5%

PartsPurchases

Parts FillRate

LogisticsCosts

2001 $409M $202M 77.0%

NUMBER OF SERVICE EMPLOYEES

2001 - 2006

17% Reduction

GLOBAL SYSTEM CONSISTENCY

20012005

583

113

DispatchSystems

CustomerBilling

Systems

GLOBAL SYSTEM CONSISTENCY

20012006

583

113

582

112

DispatchSystems

CustomerBilling

Systems

Time to deploy from 1 Year to 3-4 Days

22

NCR’s Focus Going Forward

Reduce Reduce Cost of Goods SoldCost of Goods Sold

Reduce Infrastructure / Reduce Infrastructure / BackBack--office Costsoffice Costs

Pension ReductionPension Reduction

Severance Reduction

Revenue Growth in Revenue Growth in Key SolutionsKey Solutions

EPS Expansion&

Free Cash Flow Generation

Invest in Invest in Sales/R&DSales/R&D

Improve Customer Services Profitability

23

Continued Cost Reduction

$350M of

G&A reduction

Phase IPhase I2003 2003 -- 20062006

Reduce COGSReduce COGS

Lower Pension ExpLower Pension Exp

Invest for future Invest for future growthgrowth

Supply chain, Customer Services costs

BU Operations

Internal IT costsERP, legacy applications, telecommunications costs

Cost Areas

Real Estate Excess capacity, reduced square footage/employee

Finance & Admin

Human Resources

Outsourced orders, AR, AP to Accenture & added ERP

Staffing, recruiting, align benefits to benchmarks

Actions

COGS ReductionCOGS Reduction

Manufacturing CostsManufacturing Costs

Supply ChainSupply Chain

Process ImprovementsProcess Improvements(e.g. Order(e.g. Order--toto--Cash)Cash)

Phase IIPhase II

24

Revenue Growth - with healthier mix

2003 2004 2005 2006 2007G

Teradata Data Warehousing (1)% 12% 9% 6% 7-9%

Financial Self Service 5% 19% 1% 2% 3-4%

Retail Store Automation 12% 8% (1)% 2% 4-5%

Customer Services 0% (3)% (5)% (1)% 2-3%

Total NCR Revenue 0% 7% 1% 2% 3-4%

25

Operating Margins – Driving Beyond 10%(Excluding the Impact of Pension Expense/Income)

2003 2004 2005 2006 2007G*

Teradata Data Warehousing 12% 16% 21% 22% 22-23%

Financial Self Service 14% 16% 15% 12% ≈ 14%

Retail Store Automation 0% 3% 4% 4% ≈ 5%

Customer Services (2)% (3)% 3% 5% ≈ 6%

Total NCR (w/o options expense) 4% 6% 9%

Total NCR (w/ options expense)

10%

* Does not reflect incremental one-time and recurring costs associated with the strategic separation of Teradata from NCR

26

GAAP $0.30 $1.51 $2.80 $2.09 Non-GAAP $0.40 $0.95 $1.68 $2.13 $2.50-$2.60

1 Non-GAAP results; see NCR.com for GAAP to non-GAAP reconciliation2 2007 EPS Guidance from 4/26/2007. 2007 Guidance assumes combined company for the entire year. Does not include special charges related to strategic separation or manufacturing realignment

EPS excluding one-time items

Continued EPS Expansion

2003 2004 2005 2006 2007G2

$0.40

$0.95

$1.68

1$2.50 – $2.60

$2.13

27

Cash Flow Generation

212

147

165133

482

347

514

345

425

270

367

182212

2003 2004 2005 2006 2007G*

Operating Cash Flow Capital Expenditures Free Cash Flow

Shown in $ Millions

≈

*2007 FCF does not include cash used for strategic separation or manufacturing realignment

28

Enhance Revenue

ReduceCosts

Operating Margins

Revenue

Costs

Drivers of NCR’s Earnings Expansion

• Operational initiatives– COGS reductions– Invest for growth in demand creation and R&D– Build a growth / customer-oriented culture

– Continued re-alignment of Customer Services business– Continued G&A reductions

• Built-in earnings momentum as pension expense declines in the future– Future pension expense should be lower due to freezing of

the U.S. pension plan

• Revenue growth leverages the model– Positive revenue mix shift - increasing Teradata Data

Warehousing and Self Service, while Customer Services declines as low/no margin business de-emphasized

– Attractive contribution margin on incremental Data Warehousing and Self Service revenues

Drivingthe Profit

Wedge