Datapoints from 3/4/14 Lexmark Presentation View Content, Process, and Output Management Markets as $80B TAM See Content & Process Management growing at ~10% CAGR See Output Management as flattish, with MPS and Fleet solutions growing double digits, while hardware is expected to decline Lexmark expects their software and MPS businesses combined to grow 15% in 2014 Targeting Perceptive Software to grow to $500mm by 2016 (2013 revs were $239mm) at 25% operating margins Organic growth of 15% in addition to growth through acquisition MPS business had 100% renewal rate in 2013

1. Transforming to a Higher Value Portfolio
March 4, 2014
Raymond James Conference

2. © 2013 Lexmark International, Inc. All rights reserved.
Safe Harbor Statement
2
The contents of this presentation that are not statements of historical fact are
forward-looking statements and involve risks and uncertainties that are discussed
in the Safe Harbor section of our earnings releases and SEC filings. Actual
results may differ materially from such statements. Lexmark undertakes no
obligation to update any forward-looking statements.
This presentation contains non-GAAP financial measures, unless otherwise
noted. Lexmark has provided reconciliations of GAAP to non-GAAP financial
measures and a discussion of management’s use of non-GAAP financial
measures in the GAAP to Non-GAAP section of its earnings slide deck.

3. © 2013 Lexmark International, Inc. All rights reserved.
Today’s Discussion
3
Transforming to a Higher Value Portfolio
• Lexmark focused on solving the unstructured information challenge
• Market for high value solutions and software increasing
• Lexmark well positioned to increase participation in high value markets
• Lexmark solutions and software experiencing rapid growth
Creating Shareholder Value
• 5 consecutive years achieving a record gross profit margin percentage
• 12 consecutive years of positive free cash flow
• Building and growing solutions business through expansion and acquisitions
• Returning >50% of free cash flow to shareholders through dividends and share
repurchases on average

4. © 2013 Lexmark International, Inc. All rights reserved.
Lexmark’s Transformation
Continuing Solutions & Services Investments
• Smart MFP Solutions
• Managed Print Solutions & Services
End-to-End Solutions ProviderGoal
2007 201320102007 2010 2014
Software Acquisitions
Perceptive Software
Pallas Athena
Brainware
Isys
Nolij
Acuo
AccessVia
Twistage
Saperion
Pacsgear
Exited Consumer Inkjet
Exited Business Inkjet
Sold 2Q13
4

5. © 2013 Lexmark International, Inc. All rights reserved.
Solving The Unstructured Information Challenge
5
Explosion of unstructured information is both digital and paper-based
 Digital: word processing/spreadsheet files, email, chat/social messaging,
and rich file types like images, audio and video
 Paper-based: mail, memos, notes and more buried in mailrooms, filing
cabinets and stacks of folders
Lexmark is uniquely focused on …
with the processes, applications and
people that need it most.
Connecting the unstructured printed and digital information
across the enterprise
The explosion of content outside your enterprise applications
disconnects people from the information they need most, hindering
the accurate and timely completion of processes.

6. © 2013 Lexmark International, Inc. All rights reserved.
Internal
Processes
SuppliersCustomers
Employees
Enterprise
Resource Planning
Human Resources
Information System
Customer Relationship
Management
Enterprise Systems: Where We Fit
6
ERP
CRM HRIS
EMR
Healthcare
SIS
Education

7. © 2013 Lexmark International, Inc. All rights reserved.
World Class Platform, Industry Focused Solutions
7
Perceptive
Capture
Multichannel capture
Document capture
Rich media capture
Intelligent capture
Perceptive
Content
Document management
Rich media management
Records and information
management
Document composition
Perceptive
Process
Workflow
Case management
Electronic signatures
Process mining
Process modeling &
analytics
Perceptive
Search
Federated search
Fault-tolerant search
Data loss prevention
Document filters
Managed Print
Solutions
Workflow-enabled
Fleet insight
Industry-specific unstructured content, process & output solutions
Government EducationBanking HealthcareInsuranceManufacturingRetail Back Office
Content and Process Management Software PlatformOutput Management Platform

8. © 2013 Lexmark International, Inc. All rights reserved.
Growing Market For High Value Solutions
Content & Process Management
Enterprise Content
Business Process
Document Output
Vendor Neutral Archive
Output Management
Laser Hardware, Supplies, Services
~$80B
Expected to grow
at ~10% CAGR
Source: Industry sources, public information, and other internal and external sources
8
~$10B
~$70B
MPS and Fleet Solutions
expected to grow at
double-digit rate
Non-MPS expected to
decline
8

9. © 2013 Lexmark International, Inc. All rights reserved.
Growth Synergies
Lexmark’s Unique Value Proposition
Lexmark Well Positioned in Growth Markets
9
Imaging
Solutions
Perceptive
Software
Solutions
Key Technology
Ownership
Deeper Industry
Experience
Superior Customer
Intimacy

10. © 2013 Lexmark International, Inc. All rights reserved.
Managed Print Services Leader
Recognized as a Leader*
Healthcare Content
Software Leader
* See footnote slide
10
Enterprise Content
Management Leader
Smart MFP Leader
Output
Management
Content & Process
Management
NewAgain

11. © 2013 Lexmark International, Inc. All rights reserved.
High Value MPS and Software Revenue Growing*
11
Approaching $1 billion
26% of total revenue in 2013
Expected to grow by about 15% in 2014
$786
$961
$683
Perceptive
Software
Managed
Print
Services
*Non-GAAP, in millions, totals may not foot due to rounding
‘11/’13 CAGR
+19%

12. © 2013 Lexmark International, Inc. All rights reserved.
Perceptive Software Revenue
12
$239
$100
Licenses
Prof. Svc. / Other
Subscriptions
Maintenance
$162
Grew 48% in 2013
Expected to grow to $500 Million in 2016
Targeting ~25% operating income margin by end of 2016
*Non-GAAP, in millions, totals may not foot due to rounding

13. © 2013 Lexmark International, Inc. All rights reserved.
Capital Allocation Increasing Shareholder Value*
Cash
for
Investment
Return
to
Shareholders
>50%<50%
Long Term Assumption:
Return >50% on Average through
Dividends & Repurchases
Strengthen & Grow
Capabilities
Perceptive Software
Pallas Athena
Brainware
ISYS
Nolij
Acuo
Twistage
AccessVia
Saperion
Pacsgear
~90% to 100% of Non-GAAP Net Income
13
Free Cash Flow
1Q11 To 4Q13
Free
Cash
Flow
$694
$798
Share
Repurchase
Dividends
Acquisitions Return of Capital
Invested > $725
Since 2010
Returned 87% of Free Cash Flow
2011-2013
*In millions, totals may not foot due to rounding

14. © 2013 Lexmark International, Inc. All rights reserved.

15. Reference Materials

16. © 2013 Lexmark International, Inc. All rights reserved.
Lexmark Financial Summary*
16
Revenue $1,011 +4% $3,684 -3%
Gross Profit Margin 41.4% +5.2 pts 40.7% +1.6 pts
Operating Expense $307 +$38 $1,098 +$12
R&D $87 +$3 $322 -$38
SG&A $219 +$35 $775 +$50
Operating Income $112 +$31 $403 +$2
ISS $197 +$41 $701 +$7
Perceptive $2 +$9 -$2 +$23
All Other -$86 -$19 -$297 -$28
Operating Income Margin 11.1% +2.7 pts 10.9% +0.4 pts
Net Earnings $75 +$30 $269 +$6
Tax Rate 27.4% -13.0 pts 26.4% -2.9 pts
EPS $1.18 +$0.50 $4.19 +$0.41
* Non-GAAP, totals may not foot due to rounding, in millions unless otherwise noted
4Q13 YTY FY13 YTY

17. © 2013 Lexmark International, Inc. All rights reserved.
Segment Financial Summaries*
17
ISS 4Q13 YTY FY13 YTY
Revenue $939 +1% $3,444 -5%
Laser $839 +8% $3,039 +1%
MPS $208 +22% $722 +16%
Non-MPS $631 +4% $2,317 -3%
Inkjet Exit $100 -32% $405 -37%
Gross Profit Margin 40.4% +4.6 pts 39.9% +1.0 pts
Operating Expense $182 +$7 $671 -$49
R&D $67 +1% $241 -16%
SG&A $115 +6% $431 -1%
Operating Income $197 +$41 $701 +$7
Operating Income Margin 21.0% +4.1 pts 20.4% +1.3 pts
Perceptive Software 4Q13 YTY FY13 YTY
Revenue $72 +70% $239 +48%
Licenses $23 +97% $78 +59%
Subscriptions $7 +178% $24 +209%
Maintenance $24 +49% $79 +34%
Professional Services / Other $18 +49% $58 +28%
Gross Profit Margin 73.4% +6.4 pts 72.3% +3.1 pts
Operating Expense $51 +$16 $175 +$39
R&D $16 +23% $58 +22%
SG&A $35 +56% $117 +32%
Operating Income $2 +$9 -$2 +$23
Operating Income Margin 2.6% +18.9 pts -0.8% +14.6 pts
* Non-GAAP, totals may not foot due to rounding, in millions unless otherwise noted

18. © 2013 Lexmark International, Inc. All rights reserved.
4Q12 1Q13 2Q13 3Q13 4Q13
Receivables 49 50 54 49 41
Inventory 39 45 45 49 41
Payables 72 77 79 80 73
Cash
Conversion1 16 18 19 18 9
Balance Sheet and Cash Flow1
18
4Q13)
Cash2 $1,055)
U.S. Cash $40)
Non-U.S. Cash $1,014)
4Q13 YTD)
Cash from Operations3 $205) $474)
Free Cash Flow4 $164) $308)
Depreciation & Amortization5 $67) $250)
Capital Expenditures $41) $167)
Cash Provided By or (Used For)
A/R $38) $78)
Inventory $28) $7)
A/P ($10) ($38)
(1) GAAP, totals may not foot due to rounding, in millions unless otherwise noted
(2) Includes current short-term marketable securities
(3) Net cash provided by operating activities
(4) Free cash flow = cash from operations – capital expenditures + proceeds from the sale of fixed assets
(5) Includes $21 million and $69 million for non-GAAP adjustments in 4Q13 and YTD, respectively
• Cash Conversion Cycle Improved 9 days sequentially, 7 days YTY
• Strong Liquidity Position with $1.1B Cash2, $350M Revolver, $125M A/R Program
• Maintaining an Investment Grade Debt Rating
Long Term Debt $700
5.125%, Due 2020 $400
6.650%, Due 2018 $300
Highlights
Balance Sheet & Cash Flow Cash Conversion Days
Long Term Debt

19. © 2013 Lexmark International, Inc. All rights reserved.
Deferred Software Revenue
1Q13 2Q13 3Q13
Non-GAAP 4Q12 1Q13 2Q13 3Q13 4Q13
Ending
Balance
$69 $69 $72 $87 $93
GAAP 4Q12 1Q13 2Q13 3Q13 4Q13
Ending
Balance
$55 $56 $63 $72 $82
* Totals may not foot due to rounding, in millions
19

20. © 2013 Lexmark International, Inc. All rights reserved.
2014 Revenue Assumption*
20* Non-GAAP, bar chart depicts percentage of total revenue, totals may not foot due to rounding
Overall Revenue
Inkjet Exit
Lexmark Consumer + Business
Inkjet Hardware & Supplies
Non-MPS
MPS
2013
$3.7B
Perceptive Software
Solutions
Imaging Solutions
Hardware, Supplies,
Software, Services
-4%
Year to Year
Inkjet Exit
Imaging Solutions +
Perceptive Software
MPS + Perceptive
Software
2013
Up 4%
Up 22%
Down 37%
~11% of Revenue
Inkjet Exit
Imaging Solutions +
Perceptive Software
MPS + Perceptive
Software
Up Slightly
Up about 15%
Down >40%
~6% of Revenue
2014
-3% -3% to -5%
$0.4B
$2.3B
$0.7B
$0.2B

21. © 2013 Lexmark International, Inc. All rights reserved.
2014 Outlook / Assumptions
21
Revenue(1)(2) -3% to -5% YTY
Up Slightly YTY ex. IJ Exit
Gross Profit Margin%(1) Increase
Operating Expense(1) Lower
FY14 Tax Rate ~29%
EPS(1)(2) $3.80 - $4.00
Free Cash Flow Low end of 90%-100% NI(1)
Capital Spending ~$150 Million
Depreciation ~$235 Million(3)
Pension Funding ~$35 Million (Cash)
(1) Non-GAAP
(2) Based on foreign currency exchange rates as of 12/31/13
(3) Includes approximately $75 million of restructuring ($3 million) and acquisition-related adjustments ($72 million)
• FY14 revenue decline of 3% to 5% YTY unfavorably impacted 5% by Inkjet Exit
− Laser + Perceptive revenue expected to grow slightly
− MPS + Perceptive Software revenue expected to grow ~15% YTY
• FY14 operating income expected to be near the low end of the 11% - 13% longer term target range
− Expect Perceptive Software to deliver significant operating income expansion in FY14
− FY14 benefit from pension accounting change is reduced by approximately $13M YTY
FY14 Assumptions

22. © 2013 Lexmark International, Inc. All rights reserved.
-$0.20
* Non-GAAP, totals may not foot due to rounding.
EPS Range: $3.80 - $4.00
Tax / Other
+$0.11
2013 EPS $4.19
-$0.20Operations Performance
$3.90
Tax Impact / Lower Outstanding Shares
Lower Average Shares
Outstanding
Midpoint of 2014 EPS
Guidance Range
- Inkjet Exit
+ Laser Margin Improvement
+ Perceptive Software Growth / Margin Expansion
+ Expense Reductions
Assumes Tax Rate of ~29% in 2014
compared to 26.4% in 2013
22
Bridge of 2013 to 2014 EPS Guidance
Ongoing Share Repurchases
2014 EPS* Guidance YTY Change