M&A Case Study February 2017 Confidential

Acquisition of Advent Software by SS&C Technologies Transaction Overview On Feb 2, 2015, SS&C signed a definitive agreement to acquire Advent Under the terms of the agreement, SS&C will purchase Advent for an EV of ~$2.7bn in cash, or $44.25 per share plus assumption of debt Plans to fund the acquisition through $3.0bn of debt, $400m of equity and cash Both SS&C and Advent have approved the transaction The transaction is expected to close by Q2 2015, subject to Advent stockholder approval Morgan Stanley and Deutsche Bank acted as financial advisors to SS&C and Qatalyst Partners acted as financial advisor to Advent ACQUIRED Company Overview Transaction Rationale SS&C Technologies (“SS&C” or the “Acquirer”) A global provider of investment and financial software-enabled services Headquartered in Windsor, CT and founded in 1986 Serves approximately 6,900 financial services organizations, from the world's largest institutions to local firms Advent Software (“Advent” or the “Target”) Provider of software and services for the global investment management industry Headquartered in San Francisco, CA More than 4,300 customers located across 50+ countries worldwide Advent increases SS&C's business, geographical diversification, scale and adds a stable revenue base The combined solutions will drive long-term growth for the pro forma business and present cross sell and cost savings opportunities SS&C expects $45m of cost synergies achieved within three years and expects meaningful revenue synergies to be derived over time Transaction to be accretive to EPS, enhancing top line growth, margins, cash flow The specific cost synergies and the significant cash flow available for deleveraging SS&C expects to deliver FY 2016 EPS of between $3.05 to $3.15