Webcast available on www.unisys.com/investor

Janet HaugenChief Financial Officer

Ed ColemanChairman & CEO

First-Quarter 2011 Financial Results

April 25, 2011

© 2011 Unisys Corporation. All rights reserved.

Disclaimer

• Statements made by Unisys during today’s presentation that are not historical facts, including those regarding future performance, are forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ from expectations. These risks and uncertainties are discussed in the company’s reports filed with the SEC and in today’s earnings release.

• This presentation also includes non-GAAP financial measures including Net Debt (Cash) and Free Cash Flow. Definitions of these non-GAAP financial measures and reconciliations to GAAP measures are included in this presentation.

• These presentation materials can be accessed through a link on the Unisys Investor Web site at www.unisys.com/investor. Information in this presentation is as of April 25, 2011 and Unisys undertakes no duty to update this information.

Ed ColemanChairman & CEO

Slide 11Q11 Overview

• Challenging quarter for Unisys

• Results impacted by weakness in U.S. Federal business– Ending of TSA contract – $30M of revenue in year-ago quarter– Budget impasse led to lower-than-expected agency spend

• Debt reduction charge also contributed to net loss in quarter

• Confident in strategy ... focused on achieving financial goals

• Made progress against goals outside of Federal market

Slide 2Three-Year Financial Goals

• Increase annual pre-tax profit to $350 million in 2013, excluding any change in pension income/expensefrom 2010

• Reduce debt by 75 percent from the September 2010 levelby end of 2013

• Consistently deliver an 8-10 percent services operating profit margin

• Three-year revenue goals:– Grow IT outsourcing and systems integration at market rates,

adjusted for loss of TSA revenue

– Maintain stable technology revenue

Slide 3First-Quarter Progress Against Goals

• Continued to strengthen balance sheet– Eliminated $390M of high-coupon debt in past 60 days– Debt cut nearly in half since September 2010– Annual interest expense savings of $53M

• Continued good cost discipline

• Progress against top-line goals– Services revenue flat y/y outside Federal business– Grew non-Federal IT outsourcing revenue 9 percent … fifth

consecutive quarter of y/y growth– Grew ClearPath revenue 7 percent

Slide 4Summary

• While a challenging quarter, made progress against objectives

• Focused on driving profitable top-line growth

• Disruptive technologies creating growth opportunities

• Unisys positioned to benefit – Enhanced portfolio– Streamlined cost structure– Improving balance sheet

• Focused on improving sales effectiveness

• Confident in strategy … focused on execution

Janet HaugenChief Financial Officer

Slide 5 1Q11 Order Highlights

• Closed 1Q11 with $5.8B in services backlog• Services backlog grew 2% y/y and was stable sequentially

– Services backlog grew in North America (excluding Federal), UK, and Continental Europe

– Services backlog down in Latin America and Asia Pacific

• Services orders declined largely as a result of significant order declines in our US Federal business

– SI/Consulting orders were up y/y

Slide 6 1Q11 Financial Results

$M (excluding EPS) 1Q11 1Q10 Y/Y Ch

Revenue $911 $977 (7%)

Gross Profit $208 $235 (11%)

Gross Profit Margin 22.8% 24.1% (1.3 pts)

Operating Expenses (SG&A plus R&D) $166 $177 (6%)

Operating Profit $42 $59 (28%)

Operating Profit Margin 4.6% 6.0% (1.4 pts)

Other Income (Expense)* ($24) ($37) $13

Pre-tax Loss from Continuing Ops ($8) ($5)

Tax Expense $28 $11

Net Loss from Continuing Ops ($39) ($17)

Net Loss ($39) ($12)

Diluted EPS ($0.95) ($0.27)

Diluted Shares 42.8M 42.4M

*1Q11 results included a $32M charge related to debt redemption.1Q10 results included $35M of foreign exchange losses.

$M 1Q11 Y/Y Ch

Services Revenue $800 (6%)

Gross Margin 18.0% (40 bp)

Operating Margin 4.0% (70 bp)

Revenue by Portfolio

Systems Integration $285 (3%)

Information Technology Outsourcing $285 (5%)

Infrastructure Services $110 (12%)

Core Maintenance $53 (12%)

Business Process Outsourcing $67 (2%)

Slide 71Q11 Services

35% 35%

35% 36%

15% 14%

7% 7%8% 8%

0%

25%

50%

75%

100%

1Q10 1Q11

BPO

Core

ISS

ITO

SI

Services Revenue

Slide 81Q11 Technology

Technology Revenue $M 1Q11 Y/Y Ch

TechnologyCustomer Revenue $111 (13%)

Gross Margin 51.1% (90 bp)

Operating Margin 10.9% (240 bp)

Revenue by Portfolio

Enterprise Servers $100 (3%)

Other Technology $11 (54%)

81%90%

19%10%

0%

25%

50%

75%

100%

1Q10 1Q11

OtherTechnology

EnterpriseServers

Homeland Security

22%

Civilian49%

Department of Defense

29%

1Q11 Business Mix

Slide 91Q11 U.S. Federal Government Business

Revenue Y/Y

1Q11 (24%)

1Q11 (Excluding TSA) (11%) $30 $31 $33 $22

$176 $182 $191 $177

$157$0

$50

$100

$150

$200

$250

$300

1Q10 2Q10 3Q10 4Q10 1Q11

Federal RevenueTSA Rev. Revenue

$M

$199$213$206

$224

$157

Industry

Geography

North America

41%

Europe Africa31%

Asia Pacific

14%

Latin America

14%

Public Sector

44%Commercial

33%

Financial23%

Slide 101Q11 Unisys Revenue Profile

Y/Y Ch

North America (16%)

Europe/Africa (4%)

Asia Pacific 7%

Latin America 9%

Y/Y Ch

Public Sector (11%)

Commercial (2%)

Financial (4%)

U.S. Federal

17%

U.S. Federal

17%

Slide 11Revenue Performance (Prior years exclude divested businesses)

395339 351 327 341

295335

292 302 285

154

10992

150187

125

145

105

185

111

$0

$200

$400

$600

$800

$1,000

4Q08

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

1Q11

SI ITO TSA Tech$M

90 79 82 85 84 68 66 64 72 67

151135 137 127 138

124 115 116 115 110

7164 65 68 64

57 59 55 56 53

$0

$200

$400

$600

$800

$1,000

4Q08

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

1Q11

BPO ISS Core$M

324320

290322

315317

301328

326

285

Slide 12Cash Flow Comparison

$M 1Q10 1Q11

Cash Flow From Operations ($28) $28

Capital Expenditures $69 $43

Free Cash Flow* (Usage) ($97) ($15)

Depreciation & Amortization $67 $53

Cash Balance $469 $833

* Free cash flow = Cash flow from operations less capital expenditures

See Schedule A: GAAP to non-GAAP Reconciliation.

Slide 13 Balance Sheet & Capital Structure

• Successfully concluded our previously announced debt and equity transaction– Raised $250M in net proceeds through mandatory convertible preferred stock

issuanceo Used proceeds to redeem $211M of high coupon long term debto 1Q11 charge of $32M

– Cash tendered for additional debto Closed April 11, 2011o Retired an additional $179M of high coupon long term debto 2Q11 charge of $46M

• Annualized interest savings of $53M

• Annualized dividends of $16M until preferred stock converts to common

• Achieved approximately 2/3 of our goal to reduce debt by 75% (or roughly $625M) by the end of 2013

• Net cash is $214M at March 31, 2011 vs. Net debt of $379M at March 31, 2010

See Schedule B: GAAP to non-GAAP Reconciliation.

-$250

$0

$250

$500

$750

$1,000

$1,250

$1,500

4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 1Q11 PF**

Long-Term Debt (LTD) AR Securitization Cash Net Debt*$M

Slide 14Strengthening the Balance Sheet

* Net Debt = LTD + utilization under AR securitization facility less cash.** Pro forma results reflect the impact of the debt tender which closed on April 11, 2011.

See Schedule B: GAAP to non-GAAP Reconciliation.

Questions & Answers

Janet HaugenChief Financial Officer

Ed ColemanChairman & CEO

In an effort to provide investors with additional information regarding the company’s results as determined by generally accepted accounting principles (GAAP), the company also discusses, in its earnings press release and/or earnings presentation materials, the following non-GAAP information which management believes provides useful information to investors.

Constant Currency – The company refers to growth rates at constant currency or adjusting for currency so that the business results can be viewed without the impact of fluctuations in foreign currency exchange rates to facilitate comparisons of the company’s business performance from one period to another. Constant currency for revenue is calculated by retranslating current and prior period results at a consistent rate. This approach is based on the pricing currency for each country which is typically the functional currency. Generally, when the dollar either strengthens or weakens against other currencies, the growth at constant currency rates or adjusting for currency will be higher or lower than growth reported at actual exchange rates.

Free Cash Flow – To better understand the trends in our business, we believe that it is helpful to adjust cash flows from operations to exclude amounts for capital expenditures, including investment in marketable software, capital additions of properties and capital additions of outsourcing assets. Management believes this measure gives investors an additional perspective on cash flow from operating activities in excess of amounts required for reinvestment.

Net Debt (Cash) – In an effort to help investors better understand the debt held by the company, this measure takes into account not only the total debt obligations of the company, but the significance of debt compared to its cash balances. Net Debt is calculated by adding Long-Term Debt and utilization under the Accounts Receivable securitization facility and subtracting the company’s cash balance.

Non-GAAP Financial Measures

Schedule A: GAAP to Non-GAAP Reconciliation Free Cash Flow

$M 1Q10 1Q11

Cash provided by operations (28.4) 28.4

Capital Expenditures (68.6) (43.4)

Free Cash Flow (97.0) (15.0)

Schedule B: GAAP to Non-GAAP ReconciliationNet Debt (Cash)

$M 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 1Q11PF*

Long Term Debt (Including Current Maturities)

1,060.6 1,060.3 1,061.2 911.0 911.7 847.4 836.4 837.5 824.0 619.3 447.1

AR SecuritizationUsage

141.0 120.0 130.0 118.0 100.0 - - - - - -

Subtotal 1,201.6 1,180.3 1,191.2 1,029.0 1,011.7 847.4 836.4 837.5 824.0 619.3 447.1

Cash 544.0 468.7 475.0 473.6 647.6 468.5 496.5 688.7 828.3 833.1 609.0

Net Debt (Cash) 657.6 711.6 716.2 555.4 364.1 378.9 339.9 148.8 (4.3) (213.8) (161.9)

* Pro forma results reflect the impact of the debt tender which closed on April 11, 2011.