STARTEEPO Sends Letter to Xerox Holdings

On September 8, 2026, STARTEEPO SICAV a.s. announced that it has sent a letter to Xerox Holdings Corporation?s directors, it remained supportive of the efforts the Board and management team had taken to improve performance and believed the 2nd quarter results demonstrated solid progress on every metric, and the operational turnaround was gaining traction, both the top and bottom lines were growing, the Lexmark integration was well underway with synergy capture on track, increased guidance showed management?s confidence in the business, and notable headway had been made in deleveraging the balance sheet. In addition, STARTEEPO stated that Company?s enterprise value remained misunderstood and undervalued by the market and urged the Board and management to take bold action to unlock the value of Xerox Financial Services, which it estimated could be worth roughly $7.69 per share and have an enterprise value of between $1.3 billion and $1.5 billion. Further, STARTEEPO recommended increased transparency regarding Xerox Financial Services, including details on receivables, funding, spread, credit performance, return on equity, and strategy, and called for a Board-led strategic review of the business with financial advisors to evaluate alternatives such as a joint venture, strategic capital partnership, alternative funding structures, partial monetization, or a sale, and STARTEEPO also supported a capital-light finance structure in which portfolio funding is shifted to third-party capital while Xerox retains origination, servicing, and customer relationships, believing this would result in lower leverage, a stronger balance sheet, lower refinancing risk, and greater strategic flexibility. Furthermore, STARTEEPO emphasized that its proposals were intended to complement the strategy currently being executed by management and reiterated its commitment as a long-term shareholder ready to contribute constructively to creating value for Company shareholders.