August 26, 1999 1

1
FY 1999 The Year in Review
August 26, 1999
This slide presentation, including any oral
presentation that may accompany it, includes
forward-looking statements about future
financial results, future products and other
events that have not yet occurred. For example,
statements with words like expect,anticipate
or believe and statements about fiscal 2000 are
forward-looking statements. Investors should be
aware that actual results may differ materially
from our expressed expectations because of risks
and uncertainties about the future. We will not
update the information in the presentation if any
forward-looking statement later turns out to be
inaccurate. Details about risks and
uncertainties affecting various aspects of our
business are discussed throughout this
presentation. Investors should consider all of
these risks carefully, and should pay particular
attention to risks described on slides 15 and 16.
2
Review of FY 1999

• Overview
• FY 1999 Financial Performance
• Investments Balance Sheet
• Core Businesses
• New (Internet) Businesses
• Employee Metrics
• Electronic Finance

3
Fiscal 1999 Highlights

• Strong Financial Performance

NOTE GAAP comparisons are favorably impacted by
realized gain on the sales and revaluation of
marketable securities and unfavorably impacted by
acquisition-related charges for Lacerte and CRI.
Without these items, EPS would have been a
negative 0.39 for Q499, and a positive 1.26 for
the full year.
NOTE Pro Forma financial information excludes
acquisition-related costs, discontinued
operations, restructuring charges, material
non-recurring marketing charges, and income/loss
for sales of investments and marketable
securities.
See slide 13 for more details on Pro Forma
adjustments and slides 15-16 for risks and
uncertainties relating to future results.
4
Core Businesses

• Quicken Continued growth active users to over
  11 million
• QuickBooks Revenue up 57 and profits doubled
• Supplies Consistent growth profitability
• International Changing business model in
  Europe
• Pro Tax High renewal rates and high
  profitability
• Personal Tax Revenue up 36 and profits up 39

Please see slides 15-16 for risks and
uncertainties relating to future results.
5
New (Internet) Businesses
Internet Revenue ( Millions)
125.3
48.7
21.0
Please see slides 15-16 for risks and
uncertainties relating to future results.
6
Electronic Finance
Intuit is the leader in eFinance on the PC and
on the Web
7
Total Pro Forma Revenue
Millions
848
Incl. CRI Lacerte
593
526
Please see slide 13 for a description of Pro
Forma adjustments and slides 15-16 for risks and
uncertainties relating to future results.
8
Internal Revenue Growth Rate
Pro Forma Revenue, Excluding Revenue from
Acquisitions (Lacerte CRI)
27.1
Excl. CRI Lacerte
13.7
12.5
Please see slide 13 for a description of Pro
Forma adjustments and slides 15-16 for risks and
uncertainties relating to future results.
9
Total Revenue Growth Rate
Pro Forma Revenue, Including Revenue from
Acquisitions (Lacerte CRI)
27.1
Excl. CRI Lacerte
13.7
12.5
Please see slide 13 for a description of Pro
Forma adjustments and slides 15-16 for risks and
uncertainties relating to future results.
10
Pro Forma Op Income Percent
As a Percent of Pro Forma Revenue
14.2
Incl. CRI Lacerte
10.2
8.2
Please see slide 13 for a description of Pro
Forma adjustments and slides 15-16 for risks and
uncertainties relating to future results.
11
Pro Forma Operating Income
millions
120.6
Incl. CRI Lacerte
60.5
43.2
Please see slide 13 for a description of Pro
Forma adjustments and slides 15-16 for risks and
uncertainties relating to future results.
12
Review of FY 1999

• Overview
• FY 1999 Financial Performance
• Investments Balance Sheet
• Core Businesses
• New (Internet) Businesses
• Employee Metrics
• Electronic Finance

13
Notes

• Forward-Looking Statements
• This slide presentation, including any
  oral presentation that may accompany it, includes
  forward-looking statements about future
  financial results, future products and other
  events that have not yet occurred. For example,
  statements with words like expect, anticipate
  or believe and statements about fiscal 2000 are
  forward-looking statements. Investors should be
  aware that actual results may differ materially
  from our expressed expectations because of risks
  and uncertainties about the future. We will not
  update the information in the presentation if any
  forward-looking statement later turns out to be
  inaccurate. Details about risks affecting
  various aspects of our business are discussed
  throughout this presentation. Investors should
  consider all of these risks carefully, and should
  pay particular attention to risks described on
  slides 15 and 16.
• Pro Forma Accounting
• Intuit looks at its financial performance
  in two ways GAAP, and Company Pro Forma. Pro
  Forma financial information excludes
  acquisition-related costs, discontinued
  operations, restructuring charges, material
  non-recurring marketing charges, and income/loss
  for sales of investments and marketable
  securities. Please note that there are
  significant differences between our GAAP and Pro
  Forma results. See our August 26, 1999 press
  release for details.

14
Notes

• Cyclical Business Cycle
• The seasonal nature of our desktop
  software products, especially our tax products,
  typically causes the Company to experience higher
  revenue in the January and April fiscal quarters.
  Costs to develop, market and support these
  products are incurred at relatively consistent
  levels throughout the year. Consequently, the
  Company generally reports a loss, or lower
  profits, in the October and July fiscal quarters.
• Period-to-Period Comparisons
• In performing year over year comparisons,
  please note the following FY98 includes only
  six weeks of results for our Lacerte professional
  tax software subsidiary, which we acquired in
  June 1998. FY99 includes a full year of Lacerte
  results. FY98 does not reflect any results for
  CRI, our payroll processing subsidiary, which we
  acquired in May 1999. FY99 includes three months
  of CRI results. Year over year comparisons are
  also impacted by the timing of major product
  launches. Specifically, we had QuickBooks
  launches in June 1998 and January 1999, which had
  a positive impact on FY99 results. Prior to
  these QuickBooks releases, we had not launched a
  new version of QuickBooks since December 1996.

15
Risks Uncertainties

• Risks and Uncertainties Relating to Future
  Performance and Results
• Anyone who may be considering an investment in
  Intuit Common Stock should carefully consider the
  following risks
• and uncertainties that may affect Intuits future
  performance and financial results. More details
  about these issues
• are included in Intuits fiscal 1998 for Form
  10k, its fiscal 1999 Form 10Qs and its other
  recent SEC filings.
• Our revenue and earnings are highly seasonal.
• Our quarterly and annual financial results
  fluctuate significantly.
• We face intense competition from many companies
  in all of our business areas, both domestically
  and internationally.
• We expect Microsoft to enter the personal tax
  preparation market in the 1999 tax year, and we
  may also face competition from the Internal
  Revenue Service and state tax agencies.
• Our Internet-based products and services require
  us to successfully adopt, refine and
  operationally support a new business model.
• We must continue to maintain important
  distribution and other contractual relationships
  for our Internet-based products and services and
  successfully market and promote these products
  and services.
• Our Internet businesses face risks relating to
  customer privacy and security and increasing
  regulation.
• Our Internet businesses require significant
  research and development and marketing
  expenditures.
• The expansion of our Internet-based products and
  services has had a significant impact on our
  development process.
• Expansion of our desktop product Internet
  connectivity initiatives depends to some extent
  on industry adoption of OFX as a connectivity
  standard.
• In order to succeed in the payroll business, we
  must continue to improve the integration of the
  operations of our payroll processing service
  provider and expand availability for our online
  payroll processing service.
• Our tax products must follow a demanding and
  rigid annual development and release cycle.
• Our web-based tax preparation and electronic
  filing services must handle extremely heavy
  customer demand during the peak tax season.

16
Risks Uncertainties, cont.

• Product bugs can be expensive to fix and can
  cause Intuit to lose customers.
• Product returns might exceed reserves.
• We face increasing competition for access to
  retail distribution channels.
• Businesses that we acquire must be integrated
  into our business.
• Our recent acquisitions have resulted in
  significant acquisition-related expenses.
• Our recent acquisitions of Lacerte and CRI pose a
  number of risks that could affect our ability to
  achieve the anticipated benefits of those
  acquisitions.
• We must provide responsive customer service and
  technical support.
• Business conditions in international markets can
  negatively impact our financial performance.
• We depend on a single source supplier of checks.
• We face intense competition for qualified
  employees.
• Our ability to protect our proprietary technology
  is limited.
• We rely on third party licenses for some of our
  products and services.
• Some of our products and services are regulated
  businesses under federal or state laws that do
  not apply to most software companies.
• Regulation of encryption technology could
  adversely affect our international sales and
  services.
• Problems related to the Year 2000 could have a
  significant adverse effect on our operations.
• We hold significant investments that have been
  very volatile.
• The market price of our common stock has been
  volatile.
• We have implemented a number of anti-takeover
  provisions that may adversely affect the market
  price of our common stock.

17
Business Divisions
18
GAAP - Fourth Quarter
Millions, except EPS
NOTE Q499 comparison is favorably impacted by
realized gain from the sale of Excite stock and
revaluation of remaining holdings in Excite_at_Home,
and unfavorably impacted by additional
amortization of acquisition-related items.
Without the impact of these items, Net Loss would
have been 26 million and a negative EPS of
0.39.
Please see slides 15-16 for risks and
uncertainties relating to future results.
19
Pro Forma - Fourth Quarter
Millions, except EPS
NOTE Q498 includes benefit from QuickBooks 6.0
launch in June 1998.
Please see slide 13 for a description of Pro
Forma adjustments and slides 15-16 for risks and
uncertainties relating to future results.
20
Fourth Quarter Comments

• 28 Revenue Growth vs Prior Year
• Stronger-than-expected QuickBooks sales in U.S.
• Strong Quicken QuickBooks launches in Europe
• Higher growth in Internet-based businesses
• One-Time European Expense
• Transition of German operations to licensing
  model
• CRI Results Included in 4Q99
• Neutral impact on Pro Forma operating income

Please see slide 13 for a description of Pro
Forma adjustments and slides 15-16 for risks and
uncertainties relating to future results.
21
GAAP - Full Year
Millions, except EPS
NOTE FY99 comparison is favorably impacted by
realized gain on sales and revaluation of
marketable securities, offset somewhat by higher
amortization of acquisition related costs from
Lacerte CRI. Without the impact of these
items, FY99 Net Income would have been 80
million and EPS 1.26.
Please see slides 15-16 for risks and
uncertainties relating to future results.
22
Pro Forma - Full Year
Millions, except EPS
Please see slide 13 for a description of Pro
Forma adjustments and slides 15-16 for risks and
uncertainties relating to future results.
23
Full Year FY99 Comments

• 27 Internal Growth Rate (excl. Lacerte CRI)
• Strong season for personal tax -- PC, Web and
  e-filing
• QuickBooks and related revenue up 57 (two
  launches)
• Internet-based revenues up 157 vs prior year
• 43.0 total growth rate (including Lacerte and
  CRI)
• Pro Forma Operating Income Doubled
• QuickBooks and related profit contribution
  doubled
• Personal tax profit contribution increased nearly
  40
• Includes strong profitability from Lacerte (not
  included in FY98)
• FY99 Challenges
• Quicken profit / Europe business model /
  Insurance slow ramp

Please see slide 13 for a description of Pro
Forma adjustments and slides 15-16 for risks and
uncertainties relating to future results.
24
Review of FY 1999

• Overview
• FY 1999 Financial Performance
• Investments Balance Sheet
• Core Businesses
• New (Internet) Businesses
• Employee Metrics
• Electronic Finance

25
Strategic Investments
Excluding Investments Without a Public or
Third-Party Valuation ( Millions)
All but one up at least 70
Please see slides 15-16 for risks and
uncertainties relating to future results.
26
Balance Sheet
Value of Cash and Marketable Securities at Fiscal
Year-End ( millions)
1,255
Does NOT include 131 million of cash held as
float in payroll business
882
431
Please see slides 15-16 for risks and
uncertainties relating to future results.
27
Review of FY 1999

• Overview
• FY 1999 Financial Performance
• Investments Balance Sheet
• Core Businesses
• New (Internet) Businesses
• Employee Metrics
• Electronic Finance

28
Quicken
Customer Base Continues to Grow ...
29
Quicken 2000

• Six weeks early
• Back on the Mac !
• And connected ...

30
QuickBooks

• Robust Growth and Doubling Profits

Please see slides 15-16 for risks and
uncertainties relating to future results.
31
Financial Supplies Group
Revenue ( Millions)
Please see slides 15-16 for risks and
uncertainties relating to future results.
32
International

• Focusing Efforts on Small Business
• Revenue up 12 in FY99
• Swung from small loss to small profit
• Canada
• Strong Across the Board Quicken, QuickBooks
  QuickTax
• Japan
• Revenue flat traditional businesses mature
• QuickBooks-J launched
• Europe
• Uneconomic business models transitioning to
  partnerships
• Established relationship with Haufe in Germany

33
Tax Division
Pro Forma Contribution ( Millions)
34
TurboTax
TurboTax MacInTax Federal Units (Millions)
4.1 million

• Record Sales Volumes

NOTE Microsoft Entering Personal Tax Market in
FY 2000
Please see slides 15-16 for risks and
uncertainties relating to future results.
35
Pro Tax
Renewal Rate (excluding pay-per-return customers)
92
ProSeries
89
ProSeries
85
ProSeries
82
ProSeries
Please see slides 15-16 for risks and
uncertainties relating to future results.
36
Americas Choice
Based on company estimates Unit sales times
number of returns filed per unit sold, as
reported by users on survey questionnaires.
37
Review of FY 1999

• Overview
• FY 1999 Financial Performance
• Investments Balance Sheet
• Core Businesses
• New (Internet) Businesses
• Employee Metrics
• Electronic Finance

38
New (Internet) Businesses
Multiple New Internet-Based Businesses Are Ramping

• Online Tax Filing
• Online Tax Prep
• Online Payroll
• Online Business Services
• Online Investments
• Online Mortgage
• Online Insurance
• Online Billing Payment
• Online Orders Downloads

TO THE WEB
39
Internet Revenue
Internet Revenue as a Percent of Total Revenue
20
12
11
6
Please see slides 15-16 for risks and
uncertainties relating to future results.
40
Internet Revenue
Millions
Please see slides 15-16 for risks and
uncertainties relating to future results.
41
Electronic Filing
Plus, Another Million Pro Federal Returns
Personal Federal Returns (000s)
DOUBLING EVERY YEAR
Please see slides 15-16 for risks and
uncertainties relating to future results.
42
WebTurboTax

• Full Desktop Capability
• On the Web!

43
Payroll Services
Payroll Tax Table Service Subscribers (000s)
STEP ONE
Please see slides 15-16 for risks and
uncertainties relating to future results.
44
Payroll Services
Gross Payroll Dollars Processed Through Online
Payroll Service, Excl. CRI
267 million
More customers in first year than Paychex got in
first six years
Online Payroll Service
STEP TWO
Millions
NOTE Early-Stage Effort Fast Growth, But
Small Base
Please see slides 15-16 for risks and
uncertainties relating to future results.
45
Quicken.com
Millions of Page Views Per Month

• Page Views Up 78

• Ad Revenue Doubled

Page Views and Reach Soft in Late Spring
Please see slides 15-16 for risks and
uncertainties relating to future results.
46
Insuremarket
Small Revenue
Please see slides 15-16 for risks and
uncertainties relating to future results.
47
Insuremarket
Small Revenue
Minimal Revenue
Please see slides 15-16 for risks and
uncertainties relating to future results.
48
Online Mortgages
Percentage of Total Mortgage Market Originated
Online
Rapid Growth Projected for Online Mortgages
Please see slides 15-16 for risks and
uncertainties relating to future results.
49
Quicken Mortgage
Number of Loans Closed, as an Index versus E-Loan
Partially based on Intuit estimates
100
Index vs E-Loan
Calendar Quarters
Please see slides 15-16 for risks and
uncertainties relating to future results.
50
Quicken Mortgage
Number of Loans Closed, as an Index versus E-Loan
Partially based on Intuit estimates
100
Index vs E-Loan

• NOTE
• Loans Revenues Lower than E-Loan
• Interest Rate Increases Reduce Volumes

Calendar Quarters
Please see slides 15-16 for risks and
uncertainties relating to future results.
51
Review of FY 1999

• Overview
• FY 1999 Financial Performance
• Investments Balance Sheet
• Core Businesses
• New (Internet) Businesses
• Employee Metrics
• Electronic Finance

52
Employee Survey Results
Average of 46 Quality of Work Environment
Questions - Top-Two-Box Scores
Average of All 46 Questions
Employee Satisfaction FY99 is Highest Measured
69
67
65
Please see slides 15-16 for risks and
uncertainties relating to future results.
53
Turnover Rate
Radford reports average turnover for comparable
Northern California companies to be 27 for
calendar year 1998.
Intuits Personnel in the Silicon Valley
22
18
Total company turnover down from 22 to 19 to
18 (excluding recent acquisitions)
13
Please see slides 15-16 for risks and
uncertainties relating to future results.
54
Employee Productivity
Pro Forma Revenue per Employee ( Thousands)
209
172
154
Please see slides 15-16 for risks and
uncertainties relating to future results.
55
Summary of FY 1999

• Internal revenue growth rate has doubled
• Pro Forma operating income up four points
• Cash securities increased to 1.2 billion
• Core businesses are flourishing
• Multiple new Internet businesses ramping
• Employee satisfaction highest measured
• Retention rates employee productivity up

Please see slide 13 for a description of Pro
Forma adjustments and slides 15-16 for risks and
uncertainties relating to future results.
56
Ongoing Challenges

• Execution
• Peak season capacity and customer service quality
• Reliability and security in transactional
  businesses
• Overseas business models
• Competition
• Loss-laden Internet start-ups, fueled by VCs and
  IPOs
• Increasing pressure in personal tax business
• Transition to the Internet
• Human resources hiring and retention
• Financial balance profitability versus Internet
  investment
• Culture speed and agility

Please see slides 15-16 for risks and
uncertainties relating to future results.
57
Thoughts on FY 2000

• Enter The Year in Strong Position
• Products, customers, employees, financial
  resources
• Revenue Growth Rate Likely to Slow
• Europe moving to royalty-based business model
• Microsoft entry into the personal tax market
• No benefit from one-and-a-half QuickBooks
  launches
• Internet businesses face intensifying competition
• Financial Goals
• Target 15 revenue growth and 20 op income
  growth
• Target reinvest any upside in the Internet

Pro Forma. See slide 13 for a description of
Pro Forma adjustments.
58
Review of FY 1999

• Overview
• FY 1999 Financial Performance
• Investments Balance Sheet
• Core Businesses
• New (Internet) Businesses
• Employee Metrics
• Electronic Finance

59
Small Business eFinance
Connecting Small Business Finances to the Net
QuickBooks
Data Store
60
Electronic Finance is...

• Immense in Size
• Sticky Recurring Revenue
• Competitive Advantage
• High Return on Investment
• (With Scale)
• Multiplicative

Please see slide 15 for a description of Pro
Forma adjustments and slides 17-18 for risks and
uncertainties relating to future financial
results.
61
Intuit is Electronic Finance
Examples of Companies Offering Electronic Finance
Capabilities
62
Thanks for joining us.