Presented april 14, 2009

1. Presented april 14, 2009 Guang Lu Michal Wojcikowski

2. Company Overview Business Overview Revenue Breakdown Macro-economic and Industry Analysis SWOT Analysis Competitors

3. Business Overview • Jack Henry & Associates was founded in 1976 by Jack Henry as a provider of core information processing solutions for community banks, IPO in 1985 • NASDAQ: JKHY • Headquartered in Monett, Missouri • Today, the Company’s extensive array of products and services includes processing transactions, automating business processes, and managing information for more than 8,800 financial institutions and diverse corporate entities. Divisions JHA provides it products and services through three marketed brands.

4. Jack Henry Banking • Jack Henry Banking primarily provides support to commercial banks with assets ranging from $500 million to $30.0 billion with information and transaction processing platforms that provide enterprise-wide automation • As of December 31, 2007, JHA supports 1,600 of the 8,400 commercial banks and savings institutions in this asset range • Focus on de novo (state) and mid-tier banks • Solutions encompass three functionally distinct processing systems • Approximately 100 complementary solutions • Business intelligence and bank management • Retail and business banking • Internet banking and electronic funds transfer (EFT) • Risk Management and protection • Item and document imaging solutions

5. Jack Henry Banking

6. Symitar • Supports credit unions of various sizes with information and transaction processing platforms that provide enterprise-wide automation • Two functionally distinct core processing systems • Approximately 50 complementary solutions • Business intelligence and credit union management • Member and member business services • Internet banking and EFT • Risk management and protection • Item and document imaging solutions

7. Symitar

8. ProfitStars • Encompasses the products and services provided by the 16 companies JHA has acquired through its focused diversification strategy • Highly specialized products and services enable diverse businesses and financial institutions to increase revenue and growth, mitigate and control risk, and control costs • Sales force automation system, check imaging and Check 21 solutions, and disaster preparedness and recovery services are among the solutions and are compatible with any account processing environment

9. ProfitStars • ATM Channel Management • Business Continuity/Disaster Recovery • Business Intelligence Solutions • Enterprise Content Management Solutions • Enterprise Information Security Monitoring • Enterprise Payment Solutions • Enterprise Profitability Solutions • Enterprise Risk Management • Identity Management & Control • Internet Banking • Image Solutions • Network Services • Net Interest Margin Solutions • Regulatory Reporting • Sales Automation • Telephone Banking Designed to increase revenue and growth, mitigate and control risk, and control costs

10. Revenue Breakdown • License- Represents the delivery and acceptance of application software systems contracted with us by the customer • Support and Service- Generated from implementation services (conversion, installation, configuration and training), annual support to assist the consumer in operating their systems and update software, outsourced data processing services and EFT Support services • Hardware- JHA has entered into remarking agreements with several hardware manufacturers under which it sells computers

11. Macro-economics • Increasing Alliances in Banking Industry • The unfavorable economic conditions are negatively affecting the spending of banks and credit unions • The bank environment appears increasingly stressed • Consolidation in the banking industry decreases the mergers and acquisitions chances for JKHY • National Credit Union Administration (NCUA) Assessments • 28 “wholesale” or “corporate” Credit unions nationwide and their main role in the US credit union system is to take deposits from “retail” credit unions (JKHY customers) • The fundamental issue boils down to significant losses on mortgage-related holdings at corporate credit unions. This has strained capital and liquidity positions and prompted the NCUA to assess fees from retail credit unions which will be paid into the so-called National Credit Union Share Insurance Fund • This is one-time charge to credit unions

12. Financial Technology Industry and Future Trend • Competitive Financial Technology Industry • The principal competitive factors affecting the market for technology solutions include product/service functionality, price, operating flexibility and ease-of-use, customer support, and existing customer references • In-House to outsourcing • More and more clients switched to outsourced delivery from in-house delivery • Outsourcing is a much more sustainable and enduring business because of high switching costs

13. S • Widely Accepted Brands • Manages Products and services for more than 8,700 financial institutions and corporate entities • Jack Henry Banking supports more than 1,700 banks with more than 100 integrated complementary solutions. • Symitar offers more than 630 credit unions, including 30 with assets exceeding $1 billion. • Profit Stars’ products and services are provided to more than 6,000 domestic and international customers. • Stable revenue and Resilient Business Model • heavily weighted to recurring revenue stream (70%+) • Main revenue segment Support and Service is stable • better positioned to weather the downturn Jack Henry & Associates INC SWOT Analysis

14. S • Strong Research & Development Ability • Focuses strongly on research and development (R&D) Research and development expenses for fiscal years 2008, 2007, and 2006 were $43.3 million, $36.0 million, and $31.9 million, respectively, • Enhances the core systems once in a year • Focuses on product-specific customer-driven enhancements • Diversified Products and Service • Core financial institutions spending’ flat was made up by credit union increase (+53%) • Focus towards Customers Satisfaction • conducts more than 50,000 surveys in routine customer service requests Jack Henry & Associates INC SWOT Analysis

15. w • Declining License Revenue • Decline in license revenues: In the year 2008, license revenue has decreased by $2,850 thousand in comparison to last year. • Decline in the number of new license agreements and an overall decline in the average transaction size. • Continuous shift in demand by banks and credit unions toward outsourcing services from an in-house delivery • Weak Hardware Purchase • Hardware revenue declined 14% to $20.3M reflecting weak demand and delayed purchases. Jack Henry & Associates INC SWOT Analysis

16. o • Banks' Increasing Preference To Outsource • 89% of new banking system sales in FY08 were based on outsourced delivery • 27 clients switched to outsourced delivery from in-house delivery in FY08 • Outsourcing is a much more sustainable and enduring business because of high switching costs • Business becomes more sticky for JKHY • Community Banking provides potential market shares • Small banks with under $1 billion in assets are less exposed to “toxic assets” and sub-prime loans • Most have a track of conservative lending practices • M&A Options • JKHY still has sufficient cash, but targets may be unwilling to sell at discount level Jack Henry & Associates INC SWOT Analysis

17. t • Financial Downside Risk • Financial market may be slowdown more, which could affect adoption of new core system, reduce processing volumes and dampen client appetite for complementary products such as e-payment solutions • Highly competitive industry • JKHY above average margins could also be impaired by increased competition from larger competitors • Decline in the Price of Computer Hardware • The declines in the price of computer hardware are driving down revenue and margins in company’s hardware segment • National Credit Union Administration (NCUA) Assessments • NCUA Assessment may impact credit union technology spending ( credit union 20% of total revenue) Jack Henry & Associates INC SWOT Analysis

18. 1 Fiserv Inc. • Fiserv, Inc. provides information management and electronic commerce systems and services. The company serves banks and thrifts, credit unions, savings institutions, retailers and merchants, leasing companies, lenders, government agencies, and publicly and privately owned companies. Fiserv, Inc. was founded in 1984 and is headquartered in Brookfield, Wisconsin. Fidelity National Information Services Inc. • Fidelity National Information Services, Inc. provides technology solutions, processing services, and information-based services to the financial services industry. The company serves the U.S. banks, credit unions, automotive financial companies, commercial lenders, independent community and savings institutions, retailers, and financial institutions. Fidelity National Information Services is headquartered in Jacksonville, Florida. Key Competitors

19. 2 Broadridge Financial Solutions Inc. • Broadridge Financial Solutions, Inc. provides technology-based outsourcing solutions to the financial services industry.The company offers its services to retail and institutional brokerage firms, global banks, mutual funds, annuity companies, institutional investors, specialty trading firms, and clearing firms, as well as to corporate issuers. The company is headquartered in Lake Success, New York. Euronet Worldwide Inc. • Euronet Worldwide, Inc. provides electronic payment services. The company operates in three segments: EFT Processing, Prepaid Processing, and Money Transfer. The company was founded in 1994 and is based in Leawood, Kansas. Key Competitors

20. 3 Metavante Technologies, Inc. • Metavante Technologies, Inc. delivers banking and payments technologies to financial services firms and businesses worldwide.The company was founded in 1964 and is headquartered in Milwaukee, Wisconsin. Metavante Technologies, Inc. is a subsidiary of Metavante Corporation. S1 Corp. • S1 Corporation provides customer interaction software solutions for financial and payment services in the United States and internationally. S1 Corporation primarily serves traditional financial services providers, such as banks, credit unions, and insurance companies, as well as transaction processors and retailers. The company was founded in 1934 and is headquartered in Norcross, Georgia. Key Competitors

21. F2Q09 Earning Call – Latest six quarters revenue F2Q09 Earning Call-Revenue Breakdown

22. F2Q09 Earning Call – support and service revenue F2Q09 Earning Call- Support and Service Revenue

23. F2Q09 Earning Call-Revenue and Cost Analysis F2Q09 Earning Call-Revenue and Cost Analysis Support and Service

24. Accounting analysis Income Statement Balance Sheet Cash Flows DuPont Analysis F2Q09 Earnings

25. Historical Financial Analysis – Income Statement

26. Historical Financial Analysis – Balance Sheet

27. Historical Financial Analysis – Cash Flow Statement

28. Historical Financial Health

29. DuPont Analysis

30. Valuation Assumptions WACC Discounted Cash Flow Model Relative Valuation

31. Assumptions Sustainable Growth Rate: 3.00%

32. Assumptions

33. WACC

34. DCF Valuation

35. Sensitivity Analysis

36. Multiples Analysis

37. Stock Price Range Jack Henry Associates Inc.

38. Stock Performance

39. Stock Performance Comparing To Industry

40. RCMP Correlation RCMP Position Transaction History • November 11, 1999 entered position 200 shares at $36 per share • March 3, 2000 Stock split 2:1 • March 5, 2001 Stock split 2:1 • January 15, 2007 Sold 400 shares at $22.53 • Current position Own 400 shares

41. Recommendation DCF Model Price: $18.25 +/- $20.07 - $16.42 Sensitivity Analysis Price Range: $16.20 - $22.32 Current Price as of April 13, 2009: $17.73 Recommendation: HOLD 400 Shares of JKHY