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fds-20220922

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 22, 2022

FactSet Research Systems Inc.

(Exact name of registrant as specified in its charter)

Delaware

1-11869

13-3362547

(State or other jurisdiction of

(Commission

(I.R.S. Employer

incorporation)

File Number)

Identification No.)

45 Glover Avenue

Norwalk, Connecticut 06850

(Address of principal executive offices) (Zip code)

Registrant’s telephone number, including area code: (203) 810-1000

Former name or former address, if changed since last report: None

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbols(s)	Name of each exchange on which registered
Common Stock, $0.01 Par Value	FDS	New York Stock Exchange LLC
		The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On September 22, 2022, FactSet Research Systems Inc. ("FactSet" or the "Company") issued a press release announcing its results for the three and twelve months ended August 31, 2022. A copy of the press release is furnished as Exhibit 99.1 hereto and incorporated by reference herein. The information furnished pursuant to this Item 2.02 (Results of Operations and Financial Condition), including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Exhibit 99.1 to this Report contains certain financial measures that are considered non-GAAP financial measures as defined in the rules issued by the Securities and Exchange Commission (the "Commission"). Exhibit 99.1 to this Report also contains the reconciliation of these non-GAAP financial measures to their most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles, as well as the reasons why the Company’s management believes that presentation of the non-GAAP financial measures provides useful information to investors regarding FactSet’s results of operations and, to the extent material, a statement disclosing any other additional purposes for which the Company’s management uses the non-GAAP financial measures.

Item 7.01 Regulation FD Disclosure

FactSet hereby furnishes the presentation (the "Investor Presentation") that the Company intends to use from time to time on or after September 22, 2022. FactSet may use the Investor Presentation with investors, analysts, lenders, creditors, insurers, vendors, clients, employees and others. The Investor Presentation is furnished herewith as Exhibit 99.2 and also will be made available on the Company's website at factset.com.

The information contained in the Investor Presentation is summary information that should be considered in the context of the Company's filings with the Commission and other public announcements that the Company may make, by press release or otherwise, from time to time. The Investor Presentation is current as of the date of this Current Report on Form 8-K. To the extent that estimates, targets or other forward-looking statements are included in the Investor Presentation, the Company specifically disclaims any duty or obligation to publicly update or revise such information, although it may do so from time to time.

The information in this Current Report on Form 8-K, including Exhibit 99.2, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Exchange, or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. The furnishing of this information hereby shall not be deemed an admission as to the materiality of any such information.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits


Exhibit No.						Description
99.1						Press Release of FactSet Research Systems Inc., dated September 22, 2022, announcing its results for the three and twelve months ended August 31, 2022
99.2						Investor Presentation of FactSet Research Systems Inc. dated September 22, 2022
104						Cover page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

FACTSET RESEARCH SYSTEMS INC.

(Registrant)

September 22, 2022

By:

/s/ LINDA S. HUBER

Linda S. Huber
Executive Vice President, Chief Financial Officer
(Principal Financial Officer)

Document

News Release I For Immediate Release

FactSet Reports Results for Fourth Quarter and Fiscal Year 2022

◦Q4 GAAP revenues of $499.3 million, up 21.2% from Q4 2021; Fiscal 2022 GAAP revenues of $1,844 million, up 15.9% from fiscal 2021

◦Organic Q4 ASV plus professional services of $1.8 billion, up 9.3% year over year

◦Q4 GAAP operating margin of 26.5%, down 240 bps year over year, and adjusted operating margin of 31.5%, down 10 bps over the prior year; Fiscal 2022 GAAP operating margin of 25.8%, down 400 bps year over year, and adjusted operating margin of 33.9%, up 140 bps over the prior year

◦Q4 GAAP diluted EPS of $2.69, up 2.3% from the prior year, and adjusted diluted EPS of $3.13, up 8.7% year over year; Fiscal 2022 GAAP diluted EPS of $10.25, down 1.1% from the prior year, and adjusted diluted EPS of $13.43, up 19.9% year over year

◦FactSet is providing fiscal 2023 guidance, with expected ASV + professional services growth of 8.1% - 9.7%, adjusted operating margin increase of 10 - 110 bps and adjusted diluted EPS growth of 8.1% - 11.1%.

NORWALK, Conn., September 22, 2022 - FactSet ("FactSet" or the “Company”) (NYSE:FDS) (NASDAQ:FDS), a global provider of integrated financial information, analytical applications, and industry-leading service, today announced results for its fourth quarter and full fiscal year 2022 ended August 31, 2022.

Fourth Quarter Fiscal 2022 Highlights

•GAAP revenues increased 21.2%, or $87.4 million, to $499.3 million for the fourth quarter of fiscal 2022 compared with $411.9 million for the same period in fiscal 2021. The increase was primarily due to the addition of CUSIP Global Services (CGS) and Analytics & Trading and Research & Advisory solutions. Organic revenue, which excludes the effects of acquisitions and dispositions completed within the last 12 months and foreign currency movements, grew 9.8% to $452.5 million during the fourth quarter of fiscal 2022 from the prior year period.

•Annual Subscription Value (ASV) plus professional services was $2.0 billion at August 31, 2022, compared with $1.7 billion at August 31, 2021. Organic ASV plus professional services, which excludes the effects of acquisitions and dispositions completed within the last 12 months and foreign currency movements, was $1.8 billion at August 31, 2022, up $158.5 million from the prior year at a growth rate of 9.3%.

•Organic ASV plus professional services increased $64.3 million over the last three months. The primary contributors to this growth were higher sales of Research & Advisory and Analytics & Trading solutions. Please see the “ASV + Professional Services” section of this press release for details.

•GAAP operating margin decreased to 26.5% compared with 28.9% for the same period last year, driven by amortization of intangible assets and costs related to the CGS acquisition, higher personnel expenses, increased technology expenses, and transactional foreign currency impact, partially offset by higher revenue. Adjusted operating margin decreased to 31.5% compared with 31.6% in the prior year period, primarily driven by higher personnel expenses, increased technology expenses, and transactional foreign currency impact.

•GAAP diluted earnings per share (EPS) increased 2.3% to $2.69 compared with $2.63 for the same period in fiscal 2021, primarily due to higher revenue and lower taxes, partially offset by higher interest expenses and margin compression. Adjusted diluted EPS increased 8.7% to $3.13 compared with the prior year period, driven by higher revenue offset by the impact from higher interest expenses from FactSet's investment grade senior notes and outstanding term loan.

•Adjusted EBITDA increased to $158.5 million, up 15.9%, for the fourth quarter of fiscal 2022, compared with $136.8 million for the same period in fiscal 2021.

•In connection with the acquisition of CGS, FactSet issued its inaugural investment grade senior notes consisting of $500 million principal amount of 2.90% senior notes due 2027 and $500 million principal amount of 3.45% senior notes due 2032. In addition, FactSet entered into a new credit agreement providing for term and revolving credit facilities. In the fourth quarter of fiscal 2022, FactSet made a $125 million pre-payment of the principal amount of the term loan. Aggregate repayment of the term loan to date is $250 million.

•The Company’s effective tax rate for the fourth quarter decreased to 10.3% compared with 14.7% for the three months ended August 31, 2021 primarily due to lower pre-tax income and a tax benefit related to finalizing the prior year’s tax returns.

News Release I For Immediate Release

•FactSet provided its annual outlook for fiscal 2023. Please see the "Annual Business Outlook" section of this press release for details.

"Once again, we delivered a record year, achieving $2 billion in ASV plus professional services. We continue to build the leading open content and analytics platform, accelerating our organic ASV plus professional services growth to 9.3% in fiscal 2022,” said Phil Snow, CEO, FactSet. “Investments in our product portfolio and digital capabilities are driving growth in differentiated data and workflow solutions."

Key Financial Measures*


(Condensed and Unaudited)	Three Months Ended								Twelve Months Ended								Latest
	August 31,								August 31,								FY 2022
(In thousands, except per share data)	2022			2021			Change		2022			2021			Change		Guidance
Revenues	$	499,297		$	411,894		21.2	%	$	1,843,892		$	1,591,445		15.9	%	$1.80 - $1.83B
Organic revenues	$	452,482		$	412,011		9.8	%	$	1,748,092		$	1,591,984		9.8	%
Operating income	$	132,219		$	119,176		10.9	%	$	475,482		$	474,041		0.3	%
Adjusted operating income	$	157,480		$	130,384		20.8	%	$	624,395		$	517,694		20.6	%
Operating margin	26.5		%	28.9		%			25.8		%	29.8		%			25.5% - 26.5%
Adjusted operating margin	31.5		%	31.6		%			33.9		%	32.5		%			33% - 34%
Net income	$	104,422		$	101,062		3.3	%	$	396,917		$	399,590		(0.7)	%
Adjusted net income	$	121,512		$	110,874		9.6	%	$	520,279		$	432,049		20.4	%
Adjusted EBITDA	$	158,514		$	136,783		15.9	%	$	628,179		$	540,293		16.3	%
Diluted EPS	$	2.69		$	2.63		2.3	%	$	10.25		$	10.36		(1.1)	%	$9.75 - $10.15
Adjusted diluted EPS	$	3.13		$	2.88		8.7	%	$	13.43		$	11.20		19.9	%	$12.75 - $13.15

* See reconciliation of U.S. GAAP to adjusted key financial measures in the back of this press release.

“Our strong execution in fiscal 2022 drove significant new business wins,” said Linda Huber, CFO, FactSet. “As we start our fiscal 2023, we will continue to invest in our people and products to drive both top-line growth and further margin expansion.”

Annual Subscription Value (ASV) + Professional Services

ASV at any given point in time represents the forward-looking revenues for the next twelve months from all subscription services currently supplied to clients. Professional services is revenue derived from project-based consulting and implementation.

ASV plus professional services was $2,002 million at August 31, 2022 compared with $1,688 million at August 31, 2021. Organic ASV plus professional services was $1,837 million at August 31, 2022, up $158.5 million from the prior year at a growth rate of 9.3%. Organic ASV, which excludes the effects of acquisitions and dispositions completed within the last 12 months and foreign currency movements, plus professional services, increased $64.3 million over the last three months.

Buy-side and sell-side organic ASV growth rates for the fourth quarter of fiscal 2022 were 8.5% and 13.8%, respectively. Buy-side clients, including asset managers, wealth managers, asset owners, hedge funds, channel partners and corporates, accounted for approximately 83% of organic ASV, while the remaining organic ASV came from sell-side firms including broker-dealers, banking and advisory, private equity and venture capital firms. Supplementary tables covering organic buy-side and sell-side ASV growth rates may be found on the last page of this press release.

Segment Revenues and ASV

ASV from the Americas region was $1,262.4 million compared with ASV in the prior year period of $1,039.4 million. Organic ASV increased 9.3% to $1,135.3 million. Americas revenues for the quarter increased to $323.6 million compared with $261.9 million in

News Release I For Immediate Release

the fourth quarter last year. Excluding the effects of acquisitions and dispositions completed in the last 12 months, the Americas region organic revenues growth rate was 9.1%.

ASV from the EMEA region was $515.3 million compared with ASV in the prior year period of $450.0 million. Organic ASV increased 8.4% to $486.0 million. EMEA revenues were $126.4 million compared with $109.6 million in the fourth quarter of fiscal 2021. Excluding the effects of acquisitions and dispositions completed in the last 12 months and foreign currency impacts, the EMEA region organic revenues growth rate was 8.5%.

ASV from the Asia Pacific region was $200.4 million compared with ASV in the prior year period of $174.7 million. Organic ASV increased 12.0% to $191.7 million. Asia Pacific revenues were $49.3 million compared with $40.4 million in the fourth quarter of fiscal 2021. Excluding the effects of acquisitions and dispositions completed in the last 12 months and foreign currency impacts, the Asia Pacific region organic revenues growth rate was 17.8%.

Segment ASV does not include professional services, which totaled $24.0 million at August 31, 2022.

Organic ASV plus professional services from FactSet’s workflow solutions at August 31, 2022 was as follows:

•Research & Advisory ASV was $877 million, representing 8% growth year over year.

•Analytics & Trading ASV was $654 million, growing 10% year over year.

•CTS ASV was $315 million, increasing 11% year over year.

Operational Highlights – Fourth Quarter Fiscal 2022

•Client count as of August 31, 2022 was 7,538, a net increase of 219 clients in the past three months, primarily driven by an increase in corporate and wealth clients. The count includes clients with ASV of $10,000 and more.

•User count increased by 6,284 to 179,982 in the past three months, primarily driven by an increase in wealth management users.

◦Annual ASV retention was greater than 95%. When expressed as a percentage of clients, annual retention improved to 92% year over year.

◦Employee count was 11,203 as of August 31, 2022, up 2.9% over the last twelve months, driven primarily by an increase in the content organization.

◦Net cash provided by operating activities decreased to $151.4 million compared with $185.0 million for the fourth quarter of fiscal 2021, primarily related to higher working capital, which includes the timing of estimated tax payments. Quarterly free cash flow decreased to $136.1 million compared with $171.2 million a year ago, a decrease of 20.5%, driven by higher working capital, which includes the timing of estimated tax payments, as well as the impact of deferred revenues related to CGS.

◦A quarterly dividend of $33.9 million, or $0.89 per share, was paid on September 15, 2022 to holders of record of FactSet’s common stock at the close of business on August 31, 2022.

◦FactSet announced the appointment of Kate Stepp as Chief Technology Officer (CTO). As a 14-year veteran of FactSet, Stepp brings her significant engineering, product, and organizational knowledge to the role of leading the Company’s Technology organization and overseeing its digital transformation strategy.

◦The Company announced its commitment to set a near-term, company-wide emission reduction target in line with the Science Based Targets Initiative (SBTi). Independent of committing to set a SBTi validated near-term target, FactSet also announced a goal of achieving net zero emissions by 2040.

◦FactSet announced a multi-year agreement with CID, the artificial intelligence (AI) software innovator, to expand its AI capabilities and provide financial industry professionals with actionable insights to improve operational efficiency and build high-quality investment solutions.

◦The Company announced it has launched FactSet for CRM on Salesforce AppExchange, empowering clients to enhance pipeline visibility by enabling users to monitor news, company events, and other market intelligence notifications on current

News Release I For Immediate Release

and potential clients. In addition to the FactSet for CRM managed application, FactSet can deliver data directly into clients’ instances of Salesforce via data feeds and APIs.

◦FactSet has been selected as the primary market data and technology provider for the Raymond James U.S. Private Client Group.

◦FactSet announced that Rockefeller Capital Management is utilizing FactSet’s advisor workstations across the enterprise to drive advisor productivity and support the firm’s recruitment efforts.

Full Year 2022 Highlights

•Revenues increased 15.9% to $1.84 billion, up 9.8% on an organic basis, marking the 42nd consecutive year of revenues increase for the Company.

•Organic ASV plus professional services rose to $1.84 billion, up 9.3%.

•Diluted EPS decreased 1.1% to $10.25. Adjusted diluted EPS increased 19.9% to $13.43. 2022 marks the 26th consecutive year that FactSet has increased its adjusted diluted EPS.

•Net cash provided by operating activities totaled $538.3, driven by higher working capital, which include the timing of estimated tax payments. Higher income, net of certain non-cash expenses, partially offset the higher working capital. Free cash flow decreased 1.4% to $487.1 million, primarily due to higher working capital, including the timing of estimated tax payments, as well as the impact of deferred revenues related to CGS.

•Client count increased by 16.8% or 1,085 during the year, while users grew by 11.8% or 19,050 from the prior year.

•In April 2022, FactSet increased its quarterly cash dividend by 8.5% to $0.89 per share. The $0.07 per share increase marks the twenty-third consecutive year the Company has increased dividends, highlighting FactSet's continued commitment to return value to its shareholders.

•The Company returned $144.6 million to shareholders in the form of share repurchases and dividends during the 2022 fiscal year, representing a return of 25% as a percentage of free cash flow and proceeds from employee stock plans. FactSet suspended share repurchases in the second fiscal quarter of fiscal 2022 to prioritize the repayment of debt.

•FactSet completed the acquisitions of Cobalt Software on October 12, 2021 and CUSIP Global Services on March 1, 2022.

•The Company incorporated the FactSet Charitable Foundation as a nonprofit corporation in November 2021 to facilitate our corporate social responsibility goals.

•FactSet had the distinction of being added to the S&P 500 Index on December 20, 2021.

•FactSet garnered multiple awards in 2022, with honors spanning multiple workflows, including research, risk, performance, trading, and wealth management. FactSet was recognized by over thirty industry awards and rankings reports, including winning four categories in WatersTechnology’s 2022 Inside Market Data & Inside Reference Data awards, Snowflake Marketplace Partner of the Year, and Waters Rankings 2022 Best Data Analytic Provider.

•FactSet also launched new data and technology solutions, including improved multi asset class products and capabilities, strategic partnerships to complement our portfolio lifecycle strategy, expansion of Deep Sector data, and integration on Amazon Web Services (AWS) Data Exchange.

Share Repurchase Program

FactSet did not repurchase any of its common stock during the fourth quarter under the Company's existing share repurchase program and has suspended share repurchases under the program, except for potential minor repurchases to offset dilution from grants of stock options, until at least the second half of fiscal 2023 to prioritize the repayment of debt. As of August 31, 2022, $181.3 million is available for share repurchases under the Company's existing share repurchase program.

News Release I For Immediate Release

Annual Business Outlook

FactSet is providing its outlook for fiscal 2023. The following forward-looking statements reflect FactSet's expectations as of today's date. Given the risk factors, uncertainties, and assumptions discussed below, actual results may differ materially. FactSet does not intend to update its forward-looking statements prior to its next quarterly results announcement.

Fiscal 2023 Expectations

•Organic ASV plus professional services is expected to increase in the range of $150 million to $180 million during fiscal 2023.

•GAAP revenues are expected to be in the range of $2,100 million to $2,115 million.

•GAAP operating margin is expected to be in the range of 30.0% to 31.0%.

•Adjusted operating margin is expected to be in the range of 34% to 35%.

•FactSet's annual effective tax rate is expected to be in the range of 12.5% to 13.5%.

•GAAP diluted EPS is expected to be in the range of $12.70 to $13.10. Adjusted diluted EPS is expected to be in the range of $14.50 to $14.90.

Both GAAP operating margin and GAAP diluted EPS guidance do not include certain effects of any non-recurring benefits or charges that may arise in fiscal 2023. Please see the back of this press release for a reconciliation of GAAP to adjusted metrics.

Conference Call

Fourth Quarter 2022 Conference Call Details

Date: Thursday, September 22, 2022

Time: 11:00 a.m. Eastern Time

Participant Registration: FactSet Q4 2022 Earnings Call Registration

Please register for the conference call using the above link in advance of the call start time. The conference call platform will register your name and organization and provide dial-in numbers and a unique access pin. The conference call will have a live Q&A session.

A replay will be available on the Company’s investor relations website after 1:00 p.m. Eastern Time on September 22, 2022 through September 22, 2023. The earnings call transcript will be available via FactSet CallStreet.

Forward-looking Statements

This news release contains forward-looking statements based on management's current expectations, estimates, forecasts and projections about industries in which FactSet operates and the beliefs and assumptions of management. All statements that address expectations, guidance, outlook or projections about the future, including statements about the Company's strategy for growth, product development, revenues, future financial results, anticipated growth, market position, subscriptions, expected expenditures, trends in FactSet’s business and financial results, are forward-looking statements. Forward-looking statements may be identified by words like "expects," "believes," "anticipates," "plans," "intends," "estimates," "projects," "should," "indicates," "continues," "may" and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in FactSet's filings with the Securities and Exchange Commission, particularly its latest annual report on Form 10-K and quarterly reports on Form 10-Q, as well as others, could cause results to differ materially from those stated. Forward-looking statements speak only as of the date they are made, and FactSet assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

About Non-GAAP Financial Measures

Financial measures in accordance with U.S. GAAP including revenues, operating income and margin, net income, diluted earnings per share and cash provided by operating activities have been adjusted.

News Release I For Immediate Release

FactSet uses these adjusted financial measures both in presenting its results to stockholders and the investment community and in its internal evaluation and management of the business. The Company believes that these adjusted financial measures and the information they provide are useful to investors because they permit investors to view the Company’s performance using the same tools that management uses to gauge progress in achieving its goals. Investors may benefit from referring to these adjusted financial measures in assessing the Company’s performance and when planning, forecasting and analyzing future periods and may also facilitate comparisons to its historical performance. The presentation of this 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.

Adjusted revenues exclude the impact of the fair value of deferred revenues acquired in a business combination. Organic revenues further excludes the effects of acquisitions and dispositions completed in the last 12 months and foreign currency movements in all periods presented. Adjusted operating income and margin, adjusted net income, and adjusted diluted earnings per share exclude intangible asset amortization, the impact of the fair valuing of deferred revenues acquired in a business combination and non-recurring items. EBITDA excludes interest expense, net, provision for income taxes and depreciation and amortization expense, while Adjusted EBITDA further excludes non-recurring non-cash expenses. The Company believes that these adjusted financial measures better reflect the underlying economic performance of FactSet.

Cash flows provided by operating activities has been reduced by capital expenditures to report non-GAAP free cash flow. FactSet uses this financial measure both in presenting its results to stockholders and the investment community and in the Company’s internal evaluation and management of the business. Management believes that this financial measure is useful to investors because it permits investors to view the Company’s performance using the same metric that management uses to gauge progress in achieving its goals and is an indication of cash flow that may be available to fund further investments in future growth initiatives.

About FactSet

FactSet (NYSE:FDS | NASDAQ:FDS) delivers superior content, analytics, and flexible technology to help approximately 180,000 users see and seize opportunities sooner. We give investment professionals the edge to outperform with informed insights, workflow solutions across the portfolio lifecycle, and industry-leading support from dedicated specialists. We're proud to have been recognized with multiple awards for our analytical and data-driven solutions, with the distinction of having been recently added to the S&P 500, and repeatedly scored 100 by the Human Rights Campaign® Corporate Equality Index for our LGBTQ+ inclusive policies and practices. Subscribe to our thought leadership blog to get fresh insight delivered daily at insight.factset.com. Learn more at www.factset.com and follow us on Twitter: www.twitter.com/factset.

FactSet

Investor Relations Contact:

Kendra Brown

+1.203.810.2684

kbrown@factset.com

Media Contact

Bénédicte Godet

+33 (0)6 01 02 57 82

benedicte.godet@factset.com

News Release I For Immediate Release


Consolidated Statements of Income (Unaudited)
	Three Months Ended				Twelve Months Ended
	August 31,				August 31,
(In thousands, except per share data)	2022		2021		2022		2021
Revenues	$	499,297	$	411,894	$	1,843,892	$	1,591,445
Operating expenses
Cost of services	241,944		197,532		871,106		786,400
Selling, general and administrative	123,847		95,186		433,032		331,004
Long-lived asset impairments	1,287		—		64,272		—
Total operating expenses	367,078		292,718		1,368,410		1,117,404

Operating income	132,219		119,176		475,482		474,041

Other income (expense), net
Interest expense, net	(14,304)		(1,712)		(29,522)		(6,394)
Other income (expense), net	(1,487)		979		(2,366)		(30)
Income before income taxes	116,428		118,443		443,594		467,617

Provision for income taxes	12,006		17,381		46,677		68,027
Net income	$	104,422	$	101,062	$	396,917	$	399,590

Diluted earnings per common share	$	2.69	$	2.63	$	10.25	$	10.36
Diluted weighted average common shares	38,820		38,476		38,736		38,570

News Release I For Immediate Release


Consolidated Balance Sheets (Unaudited)


(In thousands)	August 31, 2022		August 31, 2021
ASSETS
Cash and cash equivalents	$	503,273	$	681,865
Investments	33,219		35,984
Accounts receivable, net of reserves of $2,776 at August 31, 2022 and $6,431 at August 31, 2021	204,102		151,187
Prepaid taxes	38,539		13,917
Prepaid expenses and other current assets	91,214		50,625
Total current assets	870,347		933,578

Property, equipment and leasehold improvements, net	80,843		131,377
Goodwill	965,848		754,205
Intangible assets, net	1,895,909		134,986
Deferred taxes	3,153		2,250
Lease right-of-use assets, net	159,458		239,064
Other assets	38,747		29,480
TOTAL ASSETS	$	4,014,305	$	2,224,940

LIABILITIES
Accounts payable and accrued expenses	$	108,395	$	85,777
Current portion of long-term debt	—		—
Current lease liabilities	29,185		31,576
Accrued compensation	114,808		104,403
Deferred revenues	152,039		63,104
Dividends payable	33,860		30,845
Total current liabilities	438,287		315,705

Long-term debt	1,982,424		574,535
Deferred taxes	8,800		14,752
Deferred revenues, non-current	7,212		8,394
Taxes payable	34,211		30,279
Long-term lease liabilities	208,622		259,980
Other liabilities	3,341		4,942
TOTAL LIABILITIES	$	2,682,897	$	1,208,587

STOCKHOLDERS’ EQUITY
TOTAL STOCKHOLDERS’ EQUITY	$	1,331,408	$	1,016,353

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	4,014,305	$	2,224,940

News Release I For Immediate Release


Consolidated Statements of Cash Flows (Unaudited)
	Twelve Months Ended
	August 31,
(In thousands)	2022		2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	396,917	$	399,590
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	86,683		64,476
Amortization of lease right-of-use assets	43,032		42,846
Stock-based compensation expense	56,003		45,065
Deferred income taxes	(8,715)		(4,602)
Impairment charge	64,272		—


Accounts receivable, net of reserves	(32,980)		3,646
Accounts payable and accrued expenses	12,815		2,068
Accrued compensation	14,524		21,815
Deferred fees	(6,100)		5,078
Taxes payable, net of prepaid taxes	(19,275)		26,298
Lease liabilities, net	(48,628)		(42,750)
Other, net	(20,271)		(8,304)
Net cash provided by operating activities	538,277		555,226

CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property, equipment, leasehold improvements and internal-use software	(51,156)		(61,325)
Acquisition of businesses, net of cash and cash equivalents acquired	(1,981,641)		(58,056)
Purchases of investments	(878)		(18,787)
Proceeds from maturity or sale of investments	—		2,176
Net cash used in investing activities	(2,033,675)		(135,992)

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from debt	2,238,355		—
Repayments of debt	(825,000)		—
Payments of debt issuance costs	(9,736)		—
Dividend payments	(125,934)		(117,927)
Proceeds from employee stock plans	86,047		64,177
Repurchases of common stock	(18,639)		(264,702)
Other financing activities	(5,859)		(4,259)
Net cash provided by/(used in) financing activities	1,339,234		(322,711)

Effect of exchange rate changes on cash and cash equivalents	(22,428)		(263)
Net (decrease) increase in cash and cash equivalents	(178,592)		96,260
Cash and cash equivalents at beginning of period	681,865		585,605
Cash and cash equivalents at end of period	$	503,273	$	681,865

News Release I For Immediate Release

Reconciliation of U.S. GAAP Results to Adjusted Financial Measures

Financial measures in accordance with U.S. GAAP, including revenues, operating income and margin, net income, diluted EPS and cash provided by operating activities, have been adjusted below. FactSet uses these adjusted financial measures both in presenting its results to stockholders and the investment community and in its internal evaluation and management of the business. The Company believes that these adjusted financial measures and the information they provide are useful to investors because they permit investors to view the Company’s performance using the same tools that management uses to gauge progress in achieving its goals. Adjusted measures may also facilitate comparisons to FactSet’s historical performance.

Revenues

The table below provides a reconciliation of revenues to adjusted revenues and organic revenues.


(Unaudited)	Three Months Ended						Twelve Months Ended
	August 31,						August 31,
(In thousands)	2022		2021		Change		2022		2021		Change
Revenues	$	499,297	$	411,894	21.2	%	$	1,843,892	$	1,591,445	15.9	%
Deferred revenues fair value adjustment (a)	—		117				25		539
Adjusted revenues	499,297		412,011		21.2	%	1,843,917		1,591,984		15.8	%
Acquired revenues (b)	(50,189)		—				(103,723)		—
Currency impact (c)	3,374		—				7,898		—
Organic revenues	$	452,482	$	412,011	9.8	%	$	1,748,092	$	1,591,984	9.8	%

(a)The amortization effect of purchase accounting adjustment on the fair value of acquired deferred revenue.

(b)Revenues from acquisitions completed within the last 12 months.

(c)The impact from foreign currency movements over the past 12 months.

News Release I For Immediate Release

Operating Income, Operating Margin, Net Income, and Diluted EPS

The table below provides a reconciliation of operating income, operating margin, net income and diluted EPS to adjusted operating income, adjusted operating margin, adjusted net income, EBITDA and adjusted diluted EPS.


(Unaudited)	Three Months Ended
	August 31,
(In thousands, except per share data)	2022			2021			Change
Operating income	$	132,219		$	119,176		10.9	%
Deferred revenues fair value adjustment	—			117
Intangible asset amortization	18,210			5,902


Business acquisition costs	3,152			—
Contingent Liability	3,610			—
Transformation costs (a)	621			2,136
Restructuring / severance	(332)			3,053
Adjusted operating income	$	157,480		$	130,384		20.8	%
Operating margin	26.5		%	28.9		%
Adjusted operating margin (b)	31.5		%	31.6		%

Net income	$	104,422		$	101,062		3.3	%
Deferred revenues fair value adjustment	—			100
Intangible asset amortization	15,617			5,048


Business acquisition costs	2,703			—
Contingent Liability	3,096
Transformation costs (a)	533			1,826
Restructuring / severance	(285)			2,611


Income tax items	(4,574)			227
Adjusted net income (c)	$	121,512		$	110,874		9.6	%

Net income	$	104,422		$	101,062
Interest expense	15,580			2,049
Income taxes	12,005			17,381
Depreciation and amortization expense	26,507			16,291
EBITDA	158,514			136,783

Adjusted EBITDA	$	158,514		$	136,783		15.9	%

Diluted earnings per common share	$	2.69		$	2.63		2.3	%
Deferred revenues fair value adjustment	0.00			0.00
Intangible asset amortization	0.41			0.13


Business acquisition costs	0.07			0.00
Transformation costs (a)	0.01			0.04
Restructuring / severance	(0.01)			0.07
Contingent Liability	0.08			0.00


Income tax items	(0.12)			0.01
Adjusted diluted earnings per common share (c)	$	3.13		$	2.88		8.7	%
Weighted average common shares (Diluted)	38,820			38,476

News Release I For Immediate Release

(a)Costs primarily related to professional fees associated with the ongoing multi-year investment plan.

(b)Adjusted operating margin is calculated as adjusted operating income divided by adjusted revenues as shown in the revenues table above.

(c)For purposes of calculating adjusted net income and adjusted diluted earnings per share, intangible asset amortization, deferred revenues fair value adjustments and other items were taxed at the quarterly effective tax rates of 12.3% for fiscal 2022 and 17.8% for fiscal 2021.

News Release I For Immediate Release

Operating Income, Margin, Net Income and Diluted EPS


(Unaudited)	Twelve Months Ended
	August 31,
(In thousands, except per share data)	2022			2021			Change
Operating income	$	475,482		$	474,041		0.3	%
Deferred revenues fair value adjustment	25			539
Intangible asset amortization	49,122			23,257

Business acquisition costs	20,608			—
Contingent Liability	3,610			—
Transformation costs	3,368			14,113
Restructuring / severance	9,975			5,028
Real estate charges	62,205			716

Adjusted operating income	624,395			517,694			20.6	%
Operating margin	25.8		%	29.8		%
Adjusted operating margin (b)	33.9		%	32.5		%

Net income	$	396,917		$	399,590		(0.7)	%
Deferred revenue fair value adjustment	22			$	456
Intangible asset amortization	43,266			19,672


Business acquisition costs	18,151			—
Contingent Liability	3,180
Transformation costs (a)	2,967			11,938
Restructuring / severance	8,786			4,253
Real estate charges	54,789			606


Income tax items (c)	(7,799)			(4,466)
Adjusted net income (d)	$	520,279		$	432,049		20.4	%

Net income	$	396,917		$	399,590
Interest expense	35,697			8,200
Income taxes	46,677			68,027
Depreciation and amortization expense	86,683			64,476
EBITDA	565,974			540,293
Real estate charges	62,205			—
Adjusted EBITDA	$	628,179		$	540,293		16.3	%

Diluted earnings per common share	$	10.25		$	10.36		(1.1)	%
Deferred revenues fair value adjustment	—			0.01
Intangible asset amortization	1.11			0.51

Transformation costs	0.08			0.31
Restructuring / severance	0.23			0.11
Real estate charges	1.41			0.02
Business acquisition costs	0.47
Contingent Liability	0.08			—


Income tax items	(0.20)			(0.12)
Adjusted diluted earnings per common share (d)	$	13.43		$	11.20		19.9	%
Weighted average common shares (Diluted)	38,736			38,570

News Release I For Immediate Release

(a)Costs primarily related to professional fees associated with the ongoing multi-year investment plan.

(b)Adjusted operating margin is calculated as adjusted operating income divided by adjusted revenues as shown in the organic revenues table above.

(c)Income tax items for the year ended August 31, 2022 reflects tax expenses primarily related to a reduction in the estimated foreign pre-tax book income as well as an increase in estimated U.S. pre-tax book income. This was partially offset by a benefit from the finalization of the prior year tax return. Income tax items for the year ended August 31, 2021 includes income tax expenses primarily due to finalization of the prior year tax return.

(d)For purposes of calculating adjusted net income and adjusted diluted earnings per share, intangible asset amortization, deferred revenue fair value adjustments and other items were taxed at the quarterly effective tax rates of 12.3% for fiscal 2022 and 17.8% for fiscal 2021.

Business Outlook Operating Margin, Net Income and Diluted EPS


(Unaudited)
	Annual Fiscal 2023 Guidance
(In millions, except per share data)	Low end of range			High end of range
Revenues	$	2,100		$	2,115
Operating income	$	630		$	656
Operating margin	30.0		%	31.0		%

Intangible asset amortization (a)	73			73
Integration Costs	11			11




Adjusted operating income	$	714		$	740
Adjusted operating margin (b)	34.0		%	35.0		%

Net income	$	492		$	508
Intangible asset amortization (a)	64			63




Integration Costs	9			9
Discrete tax items	(4)			(3)
Adjusted net income	$	561		$	577

Diluted earnings per common share	$	12.70		$	13.10
Intangible asset amortization	1.64			1.62




Integration Costs	0.23			0.24
Discrete tax items	(0.07)			(0.06)
Adjusted diluted earnings per common share	$	14.50		$	14.90

(a)The income tax effect related to intangible asset amortization is $9.5 million for the period presented above.

(b)Adjusted operating margin is calculated as adjusted operating income divided by adjusted revenues as shown in the organic revenues table above.

Free Cash Flow


(Unaudited)	Three Months Ended						Twelve Months Ended
	August 31,						August 31,
(In thousands)	2022		2021		Change		2022		2021		Change
Net Cash Provided for Operating Activities	$	151,352	$	184,978			$	538,277	$	555,226
Capital Expenditures	(15,206)		(13,821)				(51,156)		(61,325)
Free Cash Flow	$	136,146	$	171,157	(20.5)	%	$	487,121	$	493,901	(1.4)	%

News Release I For Immediate Release

Supplementary Schedules of Historical ASV by Client Type

The following table presents the percentages and growth rates of organic ASV by client type, excluding the impact of currency movements, and may be useful to facilitate historical comparisons. Organic ASV excludes acquisitions and dispositions completed within the last 12 months and the effects of foreign currency movements. The numbers below do not include professional services.


	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21	Q3'21	Q2'21	Q1'21
% of ASV from buy-side clients	82.9%	83.7%	83.6%	83.1%	83.2%	83.8%	84.0%	84.0%
% of ASV from sell-side clients	17.1%	16.3%	16.4%	16.9%	16.8%	16.2%	16.0%	16.0%

ASV Growth rate from buy-side clients	8.5%	9.6%	8.9%	8.5%	6.5%	5.6%	5.5%	5.1%
ASV Growth rate from sell-side clients	13.8%	12.9%	12.4%	13.2%	12.0%	8.0%	6.3%	4.4%

The following table presents the calculation of organic ASV plus professional services.

(Details may not sum to total due to rounding)


(In millions)	Q4'22
As reported ASV plus Professional Services (a)	$	2,002.1
Currency impact (b)	5.1
Acquisition ASV (c)	(170.2)
Organic ASV plus Professional Services	$	1,837.0
Organic ASV plus Professional Services growth rate	9.3		%

(a)Includes $24.0 million in professional services as of August 31, 2022.

(b)The impact of foreign currency movements.

(c)Acquired ASV from acquisitions completed within the last 12 months.

investordeckseptember202

FactSet Overview September 22, 2022

Forward-Looking Statements and Non-GAAP Measures This presentation, and other statements that FactSet may make in connection with this presentation, contains forward-looking statements based on management's current expectations, assumptions, estimates, forecasts and projections as of the date such statements are made about future events and circumstances. All statements that address expectations, guidance, outlook or projections about the future, including statements about our strategy, future financial results, anticipated growth, expected expenditure, product development, market position and trends, are forward-looking statements. Forward-looking statements may be identified by words like "expects," "believes," "anticipates," "plans," "intends," "estimates," "projects," "should," "indicates," "continues," "may," and similar expressions. These statements are not guarantees of future performance and involve numerous risks, uncertainties, and assumptions. Many factors, including those discussed more fully in FactSet's filings with the Securities and Exchange Commission, particularly our latest annual report on Form 10-K and quarterly reports on Form 10-Q, could cause results to differ materially from those stated. These documents are available on our website at http://investor.factset.com and on the SEC's website at http://www.sec.gov. FactSet believes our expectations and assumptions are reasonable, but there can be no assurance that the expectations reflected herein will be achieved. Unless legally required, we undertake no obligation to update any forward-looking statements made in this presentation whether because of new information, future events or otherwise. In addition, this presentation, and oral statements that may be made in connection with this presentation, references non-GAAP financial measures, such as ASV, adjusted operating metrics, adjusted diluted EPS, EBITDA, and free cash flow. Forward-looking non-GAAP financial measures reflect management’s current expectations and beliefs, and we are not able to reconcile such non-GAAP measures to reported measures without unreasonable efforts because it is not possible to predict with a reasonable degree of certainty the actual impact or exact timing of items that may impact comparability. Non-GAAP measures should be considered in addition to, not as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP, as more fully discussed in FactSet's financial statements and filings with the SEC. The use of these non-GAAP measures are limited as they include and/or do not include certain items not included and/or included in the most directly comparable GAAP measure. A reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures is provided in the appendix to this presentation. 2Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only

Our purpose is to drive the investment community to see more, think bigger, and do its best work We are transforming the way our users discover, decide, and act on opportunities 3 We are a growth company We drive sustainable growth through continued investment and executional excellence. Our subscription business provides stability Our subscription-based model provides stable revenues and strong client retention. Our large addressable market provides opportunity We are a market leader with unique content that provides a deep competitive moat. Innovation drives us We relentlessly focus on products and solutions to meet the evolving needs of the market. Talent and culture are our foundation We focus on recruiting, retaining, and rewarding a diverse and empowered workforce. 01 02 03 04 05 Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only

FactSet at a glance1 20G L O B A L F O O T P R I N T ( C O U N T R I E S ) 39O F F I C E S 11K+E M P L O Y E E S 179K+U S E R S 4 C L I E N T S 7K+ 1 Figures as of FactSet end of fiscal 2022 year, August 31, 2022 2 LTM Organic ASV + Professional Services based on last twelve months as of August 31, 2022 3 FY2022 actual as of August 31, 2022 4 Includes CUSIP Global Services (CGS) $1.84B 2 A S V 33.9% 3,4 42 $13.433,4 9.3% 3 F Y 2 2 A S V O R G A N I C G R O W T H R A T E F Y 2 2 A D J U S T E D O P E R A T I N G M A R G I N C O N S E C U T I V E Y E A R S O F R E V E N U E G R O W T H D I L U T E D A D J U S T E D E P S Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only

The market continues to respond favorably to our performance and digital strategy 5 Notes: Market prices for the past 5 years through to September 16, 2022 FactSet began trading on the New York Stock Exchange on June 28, 1996 FDS (+176%) S&P 500 (+55%) Sep 20222017 2018 2019 2020 2021 Market Cap: $17B$6B $9B $11B $13B $14B Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only

Efficiency of Operations Technology Disruption, Generational Shift Alpha Driven by Depth of Data Value Investing and Regulation Multi-Asset Class Content and Analytics Five key trends inform our strategic investments to drive growth 6Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only

Client Obsession: Deliver open, flexible, adaptive, solutions as part of our open ecosystem with hyper-personalized digital products to provide the “next best action” across the investment lifecycle Content Refinery: Provide the most comprehensive and connected inventory of client, proprietary, and third-party content in our industry Next-Generation Workflows: Build differentiated next-generation solutions to streamline our clients’ workflows and deliver tangible efficiencies for the front, middle, and back office Our strategy: Build the leading open content and analytics platform to deliver a differentiated advantage for our clients Scale Up Our Content Refinery Drive Next-Generation Workflow Solutions Client Obsession 7 7Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only

8 Centralize Content Expanded content access | Data decision support | Enabling data science Our digital platform is critical to the success of the investment community Digital Platform Operational Efficiencies Cohesive investment process | Frictionless user experience Cost Rationalization Simplification of platforms | Optimize vendor usage Outperformance Best of breed multi-asset capabilities | Differentiated data for investment decisions Competitive Differentiation Access to robust analytics | Enhanced digital engagement Outcomes for the Investment Community Open, cloud-based platform Superior client service Integrated digital products Broad and connected content suite Extensive data hierarchy and taxonomy Deep investment process analytics Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only

20% • Listings • Securities • Entities • People • Transactions • Relationships – Associations (e.g., Revenue, Frequency, History) Data Connectivity Expansive coverage, depth, and speed of FactSet’s core proprietary content portfolio • Core Content: Speed • Core Content: Depth • Unique Data: Broad coverage FactSet Proprietary Content Utilizes FactSet’s powerful data connectivity model to ease the onboarding process of third-party data • Concordance to FactSet permanent entity identifiers • Consolidated contractual process • Sandbox for testing Open: FactSet Marketplace 25 Core Proprietary Content Sets 800+ Third Party Data Vendors 4M+ Client Portfolios DIVERSE DATA MARKET LEADING SYMBOLOGY SCREENED & CONNECTED BY FACTSET INSIGHTS & IDEA GENERATION 9 Comprehensive and connected inventory of client, proprietary and third-party content that drives broader discoverability Our content refinery expands our clients’ knowledge and trust Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only

10 S Y M B O L O G Y C O N C O R D A N C E B E S T I N C L A S S T E C H N O L O G Y B E S T I N B R E E D D A T A R E S E A R C H P O R T F O L I O C O N S T R U C T I O N T R A D I N G P E R F O R M A N C E + A T T R I B U T I O N R E P O R T I N G • Generate ideas and discover opportunities with unique data. • Monitor the global markets, research public and private companies, and gain industry and market insights. • Monitor real-time portfolio performance, risk, characteristics, and composition. • Perform exploratory data and portfolio construction analysis to optimize expected returns. • Ensure pre- and post- trade compliance with active and passive breach management. • Oversee order and execution management and allocations. • Automate trade execution and optimize algorithm selection. • Understand and analyze sources of performance, risk, and exposure historically and over time. • Calculate and manage workflows to lock down official performance or any other analytics. • Combine key analytics and results with proprietary content in client- ready customizable and automated reports. • Distribute results and commentary via reports, web, API or feeds. F R O N T O F F I C E M I D D L E O F F I C E R I S K M A N A G E M E N T • Measure performance, risk, style, and characteristics for multiple portfolios and asset classes. • Choose the risk methodologies that match investment processes. B A C K O F F I C E D A T A M A N A G E M E N T S O L U T I O N S • Optimized integration of internal and third-party content sets • Exploitation of data structure and connectivity to uncover actionable insights • Leverage data connections to create summary views to manage security-level and counter-party risk more effectively • Significantly reduce the costs associated with regulatory reporting requirements Next-generation workflow solutions built on our content refinery Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only

11 Transforming the way our users discover, decide, and act on opportunities using our digital platform Hyper-Personalized Products Open Ecosystem & Self-ServiceTrusted Partner ❖ Remove friction from the client experience with solutions that are open, flexible, and easy to use ❖ Advance the Digital Transformation of our clients through our API program ❖ Offer a modern data layer with database capabilities in the cloud, including cloud marketplace integrations ❖ Partner with our clients to provide the best services in the industry ❖ Provide an elevated level of technology and content expertise ❖ Expand our capabilities in professional services ❖ Push ideas and actions across the portfolio lifecycle ❖ Support anytime, anywhere decision- making via responsive, adaptable and accessible platforms Our clients are at the center of what we do Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only

We see significant opportunity to capture more of the addressable market Total Addressable Market Opportunity A S V CAGR Buy Side Banking Wealth PE/VC Corporates FactSet ASV and Opportunity Size (ASV vs. CAGR) Total Addressable Market (TAM) Serviceable Addressable Market (SAM) $32B Total Addressable Market1 $10B Serviceable Addressable Market1 $1.8B FactSet (FY22)2 1 TAM and SAM are 2020 figures. Source: FactSet internal data, BCG analysis 2 Organic ASV + Professional Services Note: Total addressable market (TAM) is the total market demand for a product or service. Serviceable addressable market (SAM) is the segment of the TAM targeted by FactSet’s products and services within our geographic segments. 12Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only

179K+ $66 $79 $72 $78 $112 $157 FY17 FY18 FY19 FY20 FY21 FY22* G L O B A L U S E R S 12% change since Q4/2021 7.5K+ G L O B A L C L I E N T S 17% change since Q4/2021 1 LTM Organic ASV + Professional Services Growth Rate is based on last twelve months as of August 31, 2022 * FY22 Actual as of August 31, 2022 $M 98.3% 98.5% 98.1% 98.7% 98.5% 98.7% FY17 FY18 FY19 FY20 FY21 FY22 13 $1.84B O r g a n i c A S V + P r o f e s s i o n a l S e r v i c e s 1 Incremental ASV1 growth FY22 actual* $157 million ASV retention remains strong We have accelerated top-line growth and maintained high retention 9.3% Subscription based-business model 98.6% 98.5% 98.5% 98.4% 98.6% 98.7% FY17 FY18 FY19 FY20 FY21 FY22 Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only

83% 62% 48% 17% 26% 35% 10% 17%APAC EMEA Americas Content Technology Solutions Analytics & Trading Research & Advisory Sell-Side Buy-Side 14 ASV Split by Client, Geography and Business 1 Percentage of Organic ASV + Professional Services as of August 31, 2022 2 Professional Services of $24M not allocated by client type and geography Solutions for investment portfolio lifecycle connecting all essential front and middle office functions CTS A&T R&A Optimized workflows delivering integrated content for vital aspects of the research and advisory process Off-platform products delivering data directly and leveraging FactSet’s core content and technology By Client Type2 By Geography1,2 By Business1 Executing our strategy through three workflow solutions that leverage our content refinery Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only

ASV growth rates1 by geography have largely doubled since 2019, except for AsiaPac 15 Americas $1,135M 2 EMEA $486M 2 AsiaPac $192M 2 • Deep sector and private market investments drive banking growth • Large wealth deals contributing • Significantly higher retention due to product investments • Higher demand for feeds and APIs • Buy side and analytics growth accelerating • Buy side and banking driving growth • Balanced demand across both global and regional clients • Growth increasing in new business 4.7% 3.9% 4.6% 5.6% 8.4% FY18 FY19 FY20 FY21 FY22 11.2% 10.7% 7.5% 12.3% 12.0% FY18 FY19 FY20 FY21 FY22 5.3% 4.7% 5.2% 7.4% 9.3% FY18 FY19 FY20 FY21 FY22 1 FY18 to FY22 Organic ASV LTM Growth Rates by Region 2 FY22 Q4 Ending ASV; excludes $24M Professional Services ASV Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only

16 E s ta b lis h e d G ro w th Our client-centric solutions drive value in established and growing markets % ASV by Solution Client Need FactSet Value Insights, ESG, Consolidation Performance, Risk, Truvalue Alternative Investments, ESG Cabot, Signals, Private Market Banker Efficiency, Deal Velocity Productivity Tools, Signals/APIs Connectivity, Speed, Flexibility Alt Content, Quant tools Connectivity of Content Data Management Solutions, APIs Sourcing, Portfolio Monitoring Private Company, Cobalt Market Research, Idea Generation Screening, Deep Sector Analytics + Trading Content + Technology Research + Advisory Asset Managers Asset Owners Hedge Funds Banking PE/VC Wealth Corporate Partners Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only Client Engagement Advisor Dashboard, Portfolio Guide Percentage of Organic ASV + Professional Services as of August 31, 2022

Headquarters San Francisco, CA Boston, MA Lakewood, CO Boston, MA New York, NY Founded 2013 2004 2014 2011 1968 Sponsoring SBU CTS Analytics & Trading Research & Advisory Research & Advisory CTS Strategic Alignment ESG Portfolio Lifecycle Deep Sector Private Markets Data Management Solutions Deal Rationale Expand ESG footprint and enhance technology- enabled content collection capabilities Address product gap in behavioral analytics to differentiate our PLC offering Accelerate the Power/Energy sub- strategy of our Deep Sector roadmap Building block to accelerate entry into private market workflows and path to differentiated data Enhances symbology, concordance, and reference data management Transaction Timing Closed in Q1 FY21 (November 2, 2020) Closed in Q4 FY21 (June 1, 2021) Closed in Q4 FY21 (July 1, 2021) Closed in Q1 FY22 (October 12, 2021) Closed in Q3 FY22 (March 1, 2022) 17 Recent deals complement our product offerings Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only

CUSIP Global Services CY 2021 FY 2022 FY 2025 Pre-Acquisition Annual Subscription Value (ASV) ~ $157M As of Dec 31, 2021 $165M As of Aug 31, 2022 Mid-to-High Single Digit Growth Annual Revenues ~ $180M Calendar Year 2021 ~$185M Pro Forma Full Year Mid-to-High Single Digit Growth % Non-Subscription ~ 15% < 15% Constant% Subscription ~ 85% > 85% Varies with Market Conditions Post-Acquisition Exceeded financial goals at end of the fiscal year, with $6M in incremental ASV; integration going well Copyright © 2022 FactSet Research Systems Inc. All rights reserved. FactSet Business Use Only 18

Our people and culture power our growth agenda • Our client focus drives the creation of industry-leading products and services • Our culture of innovation and collaboration makes FactSet an attractive firm for top talent, including technologists • Our focused investment in learning and development allows us to “upskill” the workforce of the future • The evolution of “the way we work” offers flexibility to support work/life balance and to increase productivity We empower our diverse and engaged team to meet our business needs and the needs of our clients 19Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only

20Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only Committed to Sustainable Growth in the Communities in Which We Live and Work Board consists of eight directors: 7/8 independent, 3/8 women, 3/8 less than 5 years on Board, 6/8 less than 10 years on Board Comprehensive cybersecurity program designed to protect our enterprise environment, manage cyber risk, and maintain compliance Completed a Global Pay Equity Audit in fiscal 2022 that found that there was not a statistically significant association between salary and gender, worldwide, or between salary and race/ethnicity, in the U.S. Refreshed FactSet Global DE&I Council chaired by CEO and consisting of 13 senior leaders FactSet signed the CEO Action for Diversity and Inclusion Pledge Published our workplace demographics for the first time, including our EEO-1 Federal data Incorporated the FactSet Charitable Foundation to facilitate our corporate social responsibility goals During FY22 FactSet volunteers contributed over 17,000 hours of service Environmental Social Governance Announced goal of achieving net zero emissions by 2040 Committed to setting a near-term emission reduction target in line with the Science Based Targets Initiative (SBTi) Published our validated Scope 1 and Scope 2 GHG Emissions from FY19 to FY21, with a 44% decrease in Total Scope 1 and Scope 2 Emissions between FY20 and FY21 Reported to CDP and EcoVadis in FY2022 Efforts underway for Scope 3 GHG Emissions inventory, supplier assessment and sustainable procurement program, a climate-risk analysis, and monitoring consumption metrics Of FactSet’s global locations, 12 buildings have received LEED or LEED-equivalent certifications FactSet is committed to sustainable growth for our clients, employees, partners, investors, and our communities. We are continually monitoring and improving our social practices, our environmental and climate actions, and our governance initiatives while maintaining and strengthening our relationship with stakeholders. To learn more about our sustainability efforts, please see our 2021 Sustainability Report

Our Awards B E S T D A T A A N A L Y T I C S P R O V I D E R Inside Market Data & Inside Reference Data Award Buy-Side Technology Award Fund Technology & WSL Awards B E S T R E P O R T I N G S Y S T E M P R O V I D E R Waters Ranking Awards Wealth Briefing European Award B E S T O V E R A L L T E C H N O L O G Y P R O V I D E R Buy-Side Technology Award Inside Market Data and Inside Reference Data Awards Financial Technologies Forum Awards B E S T B U Y - S I D E P E R F O R M A N C E M E A S U R E M E N T A N D A T T R I B U T I O N Buy-Side Technology Awards | Waters Ranking Awards Wealth & Finance International Alternative Investment Awards B E S T R I S K M A N A G E M E N T T E C H N O L O G Y P R O V I D E R MENA Fund Services Award Ranked 19 in Chartis RiskTech100 Private Equity Wire 21Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only M A R K E T P L A C E P A R T N E R O F T H E Y E A R Snowflake

Financial Review | Fiscal 2022 22

Key Highlights 23Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only Robust financial model with 95% subscription-based revenues supported by pricing discipline, demonstrated EBITDA flow-through and strong free cash flow conversion Strategic investments drive best-in-class solutions and scale up the content refinery, accelerating top-line growth Disciplined capital allocation drives value creation while investment grade balance sheet ensures flexibility Sustainable earnings growth driven by ASV growth, strategic investments and enterprise- wide productivity initiatives *FY22 Ending ASV and ASV LTM growth LTM Growth 33.9% FY22 ASV* $1,837M FY22 Adjusted Operating Margin 9.3% FY22 LTM Growth* 01 02 03 04

Attractive financial model with demonstrated strong free cash flow conversion Revenues Adjusted EBITDA and EBITDA Margin1 Capital Expenditures as % of Revenues Free Cash Flow2 Note: Figures as of FactSet fiscal year end August 31 1 See appendix for a reconciliation of EBITDA to GAAP net income. EBITDA margin is defined as EBITDA as a percentage of Revenues. 2 See appendix for a reconciliation of Free Cash Flow to Cash Flows from Operations. FCF conversion is defined as Free Cash Flow as a percentage of EBITDA. 284 352 368 428 494 487 70.7% 82.8% 73.2% 83.3% 91.4% 77.5% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 110.0% - 100 200 300 400 500 600 FY17 FY18 FY19 FY20 FY21 FY22 Free Cash Flow % FCF Conversion 1,221 1,350 1,435 1,494 1,591 1,844 FY17 FY18 FY19 FY20 FY21 FY22 $M $M $M 3.0% 2.5% 4.1% 5.2% 3.9% 2.8% FY17 FY18 FY19 FY20 FY21 FY22 402 426 503 514 540 628 32.9% 31.5% 35.0% 34.4% 33.9% 34.1% 28.0% 30.0% 32.0% 34.0% 36.0% 38.0% 40.0% FY17 FY18 FY19 FY20 FY21 FY22 - 100 200 300 400 500 600 700 EBITDA % Margin +8.6% +9.4% +11.4% Copyright © 2022 FactSet Research Systems Inc. All rights reserved. FactSet Business Use Only 24

31% 33% 28% 30% 30% 32% FY17 FY18 FY19 FY20 FY21 FY22 81 89 100 110 118 126 FY17 FY18 FY19 FY20 FY21 FY22 $261 $304 $220 $200 $265 $19 FY17 FY18 FY19 FY20 FY21 FY22 Returning capital to shareholders $0.6B over the last six years $1.27B over the last six years $M $M 284 352 368 428 494 487 FY17 FY18 FY19 FY20 FY21 FY22 Avg 30.7% $M +11.4% 29% 25% 27% 26% 24% 26% FY17 FY18 FY19 FY20 FY21 FY22 Avg 25.6% Net Income Payout Ratio 2 Free Cash Flow 1 Cash Flow Payout Ratio 3 +9.3% Amounts may not add due to rounding 1 Please see Appendix for free cash flow details. 2 Net income payout ratio reflects dividends as a percentage of net income. 3 Cash flow payout ratio reflects dividends as a percentage of free cash flow. 25Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only Dividends Share Repurchases

Strategic investments have accelerated top-line growth FY19 FY20 FY21 FY22 Base growth Acceleration from Investments 1 Cumulative three-year investments (FY20 - FY22) based internal attribution estimates 2 Organic LTM growth reported for respective FY Digital Platform Private Markets Other Deep Sector Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only 5.1% 5.3% 7.2% 9.3% Organic ASV + Professional Services Growth~$150M Incremental ASV from ~$100M Investment 1 26 2

27 Disciplined capital allocation framework drives value creation Last 5 Years (FY17 - FY21) 50% Return Reinvest Dividend Share Repurchase M&A CapEx R&D 1 FactSet’s expectations as of September 22, 2022. Actual results may differ materially from expectations above. Investments (R&D / CapEx) Share Repurchase Dividends Acquisitions Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only Capital Deployed Capital Allocation Framework 50% Medium Term Goals 1 Target annual organic investment net ~100 to 150 bps of revenues CapEx goal 2.5% – 3% revenues Target quarterly dividend ~ 25% - 30% of net income Current focus on cash flow neutral tuck-in acquisitions and partnerships Normalized share repurchase (targeting to resume ~ late FY23)

Optimizing capital structure to ensure flexibility 1.0x 3.9x 3.1x 2.0x - 2.5x Feb 28, 2022 March 1, 2022 August 31, 2022 Target Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only • Investment grade ratings from Moody’s (Baa3) and Fitch (BBB) • New credit agreement with $500 million revolver ($250 million drawn) and additional $750 million accordion feature • $1 billion unsecured senior notes issued (5 year $500 million 2.9% coupon; 10 year $500 million 3.45% coupon) • $1 billion pre-payable three-year term loan - $750 million outstanding as of August 31, 2022 • Annual interest expense ~$50 million, ramping down to ~$40 million as term loan is repaid • Floating rate exposure hedged with 24-month fixed rate swap Debt incurred for CGS on March 1, 2022 included $1.0B of new senior notes, $1.0B of new term loan, $250M drawn new revolver, net of repayment of $575M previous revolver 1 Based on $575M of drawn revolver as of February 28, 2022, and $561M of FY22 Q2 LTM Adjusted EBITDA (excludes CGS); see appendix for Adjusted EBITDA reconciliation 2 Based on August 31, 2022, net of repayment of $250m of the term facility includes unamortized discounts and debt issuance fees. Gross Debt of $2,000m /$628m FY22 Adj. EBITDA = 3.1x 3 FactSet’s expectations as of September 22, 2022. Actual results may differ materially from expectations above 21 3 28 Capital Structure OptimizationGross Leverage (Debt / LTM EBITDA) $575Total Debt ($MM) $2,250 Debt incurred for CGS $2,000 Debt incurred for CGS; net of repayment

$1.4 $1.4 $1.5 $1.6 $1.8 FY18 FY19 FY20 FY21 FY22 $79 $72 $78 $112 $157 FY18 FY19 FY20 FY21 FY22 $8.53 $10.00 $10.87 $11.20 $13.43 FY18 FY19 FY20 FY21 FY22 During fiscal year 2022, we delivered 9.3% ASV1 growth and expanded margin …building on momentum of the last several years $1.84B Revenue2 Adj Operating margin1,2 Adj Diluted EPS1,2 33.9%$157M ASV growth3 $13.43 31.3% 33.2% 33.6% 32.5% 33.9% FY18 FY19 FY20 FY21 FY22 $B$M $ +8.5%4 +8.4%4,5 +12.9%4 29 YoYYoY YoY YoY 1 Please see Appendix for a reconciliation of these non-GAAP metrics to GAAP metrics. 2 Includes CUSIP Global Services (CGS) 3 Incremental ASV Growth 4 FY17-FY22 actual 5 Total Organic ASV Growth Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only +8.5%4 Avg 32.9%

Disciplined expense management drives our margin expansion plan • Actively manage key expense drivers: people, real estate, technology and third-party data • Reduce real estate footprint to reduce costs • Focus on sustainable margin expansion to fund investment, coupled with careful expense management and productivity goals People 7% - 8% growth1 (lower than ASV2 growth) Real Estate ~150 bps reduction (as % Revenues) Technology Support growth and investments (8.5% - 9.0% of Revenues) Third-Party Data Costs 5% - 6% growth1 (lower than ASV2 growth) • Increase workforce productivity with improved technology and “upskilling” • 65% in COE locations3 • Prioritize resources for new investments and growth opportunities • Reduced real estate footprint due to hybrid operating model • Significant reduction of real estate footprint completed, with total charges of $62 million3 • Decreasing expense as a percentage of annual revenues • Continue to invest in Cloud to optimize performance • Increase expense growth to support investment strategy • Provide incremental client products and functionality • Rationalize data sources • Support strategic initiatives while managing base cost growth to inflation increases 30Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only Above goals represent FactSet’s expectations as of September 22,2022. Actual results may differ materially from expectations above. 1 Average target growth rate through FY25 2 Organic ASV + Professional Services 3 As of September 22,2022

Fiscal 2023 guidance is in line with our medium-term outlook shared on Investor Day FactSet Organic ASV Growth 2, 3 FactSet Adjusted Operating Margin 4, 5 FactSet Adjusted Diluted EPS Growth 3, 5 8 - 9% 35 - 36% 11 - 13% Medium Term Outlook1 Research + Advisory Analytics + Trading Content + Technology Solutions 1 Medium term outlook represents FactSet’s expectations as of April 5, 2022. Actual results may differ materially from expectations above. 2 Organic ASV + Professional Services $150 - $180 million 34% - 35% $14.50 - $14.90 FY23 Adj. Guidance Range Copyright © 2022 FactSet Research Systems Inc. All rights reserved. FactSet Business Use Only 31 3 Average target growth rate through FY25 (per year on average) 4 Target margin by year-end FY25 5 Includes CUSIP Global Services (CGS)

APPENDIX 32

Fiscal 2023 Guidance FISCAL 2023 OUTLOOK As of September 22, 2022 Organic ASV + Professional Services Growth1 $150 - $180 million Revenues $2,100 - $2,115 million Operating Margin 30% - 31% Adjusted Operating Margin 34% - 35% Effective Tax Rate 12.5% - 13.5% Diluted EPS $12.70 - $13.10 Adjusted Diluted EPS $14.50 - $14.90 1 Organic ASV + Professional Services growth over fiscal 2022 The Fiscal 2023 Outlook shown here is a forward-looking statement. Given the risks, uncertainties and assumptions related to FactSet's business and operations, FactSet’s actual future results may differ materially from these expectations. Investors should review the Company’s cautionary statements and risk factors referred to in this presentation Copyright © 2022 FactSet Research Systems Inc. All rights reserved. FactSet Business Use Only 33

FactSet EBITDA and Adjusted EBITDA reconciliation FY2017 1 FY2018 1 FY2019 1 FY2020 1 FY2021 1 FY2022 1 Net Income $258.3 $267.1 $352.8 $372.9 $399.6 $396.9 Interest Expense3 8.8 16.3 20.1 13.1 8.2 35.7 Income Taxes 86.1 84.8 69.2 54.2 68.0 46.7 Depreciation and Amortization Expense 48.3 57.3 60.5 57.6 64.5 86.7 EBITDA $401.5 $425.5 $502.6 $497.8 $540.3 $566.0 Non-Recurring Non- Cash Expenses 2 __ __ __ 16.5 __ 62.2 Adjusted EBITDA $401.5 $425.5 $502.6 $514.3 $540.3 628.2 ($ in millions) 34 Note: Columns may not foot due to rounding 1 Fiscal year ending August 31 2 FY2020 Impairment charge to reflect the estimated fair value of an investment in a company and 2022 impairment charge related to the exit of certain leased office space 3 Gross interest expense Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only

($ in thousands) 35 Note: Columns may not foot due to rounding 1 Fiscal year ending August 31 2 Includes property, equipment, leasehold improvements and capitalized internal-use software ($ millions) FY2017 1 FY2018 1 FY2019 1 FY2020 1 FY2021 1 FY20221 Net cash provided by operating activities $320.5 $385.7 $427.1 $505.8 $555.2 $538.3 Capital Expenditures 2 (36.9) (33.5) (59.4) (77.6) (61.3) (51.2) Free Cash Flow $283.7 $352.1 $367.8 $428.2 $493.9 $487.1 Copyright © 2022 FactSet Research Systems Inc. All rights reserved. Business Use Only FactSet free cash flow reconciliation

Non-GAAP Reconciliations Business Outlook Operating Margin, Net Income Fiscal 2023 (Forward Looking) Low End of Range High End of Range Revenues $2,100 $2,115 Operating Income $ 600 $656 Operating Margin 30.0% 31.0% Intangible Asset Amortization 73 73 Integration Costs 11 11 Adjusted Operating Income $ 714 $ 740 Adjusted Operating Margin 34.0% 35.0% Net Income $ 492 $ 508 Intangible Asset Amortization 64 63 Integration Costs 9 9 Discrete tax items (4) (3) Adjusted Net Income $ 561 $ 577 (in millions, except per share data) Copyright © 2022 FactSet Research Systems Inc. All rights reserved. FactSet Business Use Only 36

($ in thousands) Note: Columns may not foot due to rounding ($ millions) Low-end of range High-end of range Diluted earnings per common share $12.70 $13.10 Intangible asset amortization 1.64 1.62 Integration Costs 0.23 0.24 Discrete tax items (0.07) (0.06) Adjusted diluted earnings per common share $14.50 $14.90 The Fiscal 2023 Outlook shown here is a forward-looking statement. Given the risks, uncertainties and assumptions related to FactSet's business and operations, FactSet’s actual future results may differ materially from these expectations. Investors should review the Company’s cautionary statements and risk factors referred to in this presentation Copyright © 2022 FactSet Research Systems Inc. All rights reserved. FactSet Business Use Only 37 Non-GAAP Reconciliations Business Outlook Adjusted Diluted EPS (in thousands, except per share data)