LETTER FROM FRANK BISIGNANO 1 joinal First Data in the first half of 2013 because I saw a global leader in the rapidly innovating payments industry. First Data's central position in global electronic payments was undeniable. The company served millions of businesses around the world and processed more than 2

y into First Data. Clover, a Silicon Valley start-up that we acquired just a few months before I joined, was the first of many examples to follow of First Data's ability to execute from concept to commercialization, at scale. We brought Clover's integrated point-of-sale operating system to market in II months

know First Data has not yet truly arrived. We know we arc on the right path, and we know we will get there. I would like to extend my gratitude to First Data's many clients around the world. This company would not be where it is today without your support. We arc truly dedicated to helping you grow your bus

ility of our next-generation commerce solutions nor that these solutions arc designed to easily integrate into their existing First Data solutions. First Data's focus on innovation has accelerated. In the last three years, we have acquired six commerce-focused technology start-ups: Clover, Pest, Gyfi, SpreeC

(34) Debt issuance costs (3) (5) (14) Net loss attributable to First Data Corporation $ (458) $ (952) S (736) (a) Net adjustment to reflect First Data's proportionate share of alliance revenue and EBITDA and amortization related to equity method investments not included in segment EBITDA. (b) Includ

by a company's chief operating decision maker (CODM), or decision-making group, in deciding how to allocate resources and in assessing performance. First Data's CODM is its Chief Executive Officer. The Company is organized into three segments: Global Business Solutions, Global Financial Solutions, and Networ

The recently launched Clover Mini • for example. will compete in the high-volume traditional POS terminal space, and will, over time. likely become First Data's preferred terminal solution for acquiring clients. We are still in the early stages of this journey, so Clover has not yet had an opportunity to hav

d technology industries and a track record of execution at leading public companies. Our new management team has already had a significant impact on First Data's performance, launching numerous new products including our new Clover operating system. completing the development of several strategic partnerships

ge strategic referral partners, such as group service providers, like industry associations, system integrators. and IT consultancies, who recommend First Data's solutions to members and clients that they are advising on related projects. For more detail on our distribution capabilities, see "—Our Sales and D

ntain a regulatory compliance program and framework, as a second linc-of- defense, that is designed to (1) identify and establish an understanding of First Data's regulatory compliance responsibilities; (2) train owner associates; (3) achieve compliance with regulator• requirements and internal regulator• comp

ations Our operations include a wide range of client service and processing functions that enable us to serve and support our clients across all of First Data's business segments. Led by our Chief Operations Officer, the team consists of over 11,500 employees globally and focuses on: Delivering a high-qualit

have begun to introduce other commerce-enabling solutions in selected markets. We entered LATAM in 2001 in Puerto Rico. Since then, we have expanded First Data's services and now conduct business in Argentina. Brazil, Colombia. Panama, Mexico, Uruguay. Central America. and the Caribbean. In Brazil. we opened