Investor Presentation Q1 2012

Forward-Looking Statements The following information contains forward-looking statements. These forward-looking statements are based on the Company’s current expectations and beliefs, as well as a number of assumptions concerning future events and market trends and opportunities. These forwardlooking statements include, but are not limited to, anticipated features, benefits and success of Income+, descriptions of potential market and/or growth opportunities and trends, as well as general business objectives. The Company makes no representations regarding its intentions or plans to enter or pursue any such opportunities or trends, or the likelihood of achieving any penetration into these potential markets or of successfully pursuing any such opportunities, trends or objectives. These statements are subject to risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Factors which may cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to, those discussed in our most recent SEC filings as described below, as well as changes in market opportunities, demographics and trends, in the financial markets and economy as a whole, and in the Company’s business plans, initiatives or strategies. You are cautioned not to place undue reliance on such forward-looking statements because actual results may vary materially from those expressed or implied. All forward-looking statements are based on information available to the Company as of the date specified for such information, if a date is given, or on this date and Financial Engines assumes no obligation to, and expressly disclaims any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For more information on the risks and uncertainties affecting the Company please see our most recent SEC filings, including our Form 10-Q for period ending March 31, 2012 and our Form 10-K filed for our fiscal year ended December 31, 2011. This data is presented for information only and is not intended to constitute an offer or solicitation with respect to any securities issued by the Company. 1

Providing investment advice to those who have been ignored

• Personalized, independent

• investment management and advice • through the workplace

• using proprietary, scalable technology

People who get help are better off Source: Hewitt Associates and Financial Engines research: “Help in Defined Contribution Plans: 2006 Through 2010”, Sept 2011.

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Top DC managed account provider

(1)

Based on The Cerulli Edge Retirement Edition, 1Q 2012, Issue #19; data as of December 31, 2011

(1)

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Company highlights

Leader in a large market driven by powerful trends

Scalable, proprietary investment technology platform

Services help invest before and spend during retirement

High growth, recurring revenue, high operating leverage

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Powerful trends driving growth

Demographics 78 million Baby Boomers

Retirement

Workplace access

$9.6 trillion dollars

519,000 plans overall

Investing expertise

Technology

Nobel laureate founder

Personalization at scale

Source: 2011 Cerulli Study (retirement assets (DC and IRA) and plans data); U.S. Census Bureau July 1, 2006 (baby boomer data).

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Scalable technology delivers high quality at low cost

Retirement Evaluation

Online Advice

Professional Management

for everyone

You do the work

We do the work

401(k) account 6

Focused workplace distribution broad opportunity in large plans 519,000

$3 trillion

56 million

Current partners • Aon Hewitt

0.4%

• Fidelity

50%

• ING

54%

• J.P. Morgan • Mercer • T. Rowe Price • Vanguard

• Xerox HR Solutions 401(k) Plans

Participants

401(k) Assets

80% of large plan market and > $2.1 trillion of all 401(k) assets Source: 2011 Cerulli Study (plans, participants, 401(k) assets); Pensions & Investments Top DC record keepers as of Dec 31, 2010 and one of our partners as of Dec 31, 2010 (current partners data). See our Forward-Looking Statements earlier in this presentation.

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Largest installed base of America’s largest 401(k) plans

Market leader among large 401(k) plans • Advice available to 8 million participants • 138 FORTUNE 500 • 479 full suite employers; $517 billion in plan assets • Managing 589,000 accounts worth $54 billion • Half of members have less than $41,000 balance

Based on Financial Engines data as of March 31, 2012. These Financial Engines customers have consented to disclosure of their relationships with Financial Engines. This does not constitute an endorsement or approval of the advisory services provided. All trademarks are the property of their respective owners. Financial Engines’ full suite of services includes Professional Management, Online Advice, and the Retirement Evaluation.

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Exclusive access with high barriers to entry

Employers require:

$517 billion

• • • • •

Independence Blue chip customers Technology to personalize Data connectivity Access for all employees

assets under contract

97% employer retention

Based on Financial Engines data as of March 31, 2012. All employers who make available our Professional Management service have made us the sole in-plan provider. (1) Based on the average employer retention for the 3 years ending 12/31/11 for employers offering Professional Management services.

(1)

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Three sources of growth

1. Built-in growth

2. Increased enrollment

AUM

3. Potential new markets IRA

AUC 401(k)

• Automatic enrollment • $3B ongoing contributions • Market appreciation

Based on Financial Engines data as of March 31, 2012.

• Annual campaigns • Integrated enrollment • Income+ • Opt-out trends

• Total income planning • Social Security & pensions • Other retirement assets

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Potential new markets

$15.8T

Growth Opportunity DC + IRA + DB

$9.6T

$4.9T

$2.1T

Assets (billions)

$15,800

DC + IRA

$9,600

Total DC

$4,900

Current partners

$2,100

Current AUC

$517

Current AUM

$54

$517B

Source: 2011 Cerulli Study (DC, IRA, and DB data); Pensions & Investments Top DC record keepers as of December 31, 2010 and one of our partners Dec 31, 2010 (partners data). Based on Financial Engines data as of March 31, 2012 (AUM, AUC). See our Forward-Looking Statements earlier in this presentation.

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Follow the Baby Boomers at work and through retirement Pre-retirement Then

Now

Post-retirement DB Pension

401(k)

Members age 50+ hold 65% of assets “When can I retire?” “How do I avoid losses?” “Will I run out of money?” Based on Financial Engines data as of March 31, 2012.

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A retirement income solution for 401(k)s Employees want: Safety Flexibility

+

Employers don’t want: Hassle Counterparty risk

Growth

Conflicts

Help

High fees

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Financial Engines® Income+

• Feature of Professional Management • No additional fee for participants or sponsors • Uses plan’s existing investment options—no in-plan annuity required

• Helps prepare for retirement payouts • Income Checkup with an advisor to develop an income plan • Gets portfolio income-ready via higher fixed income allocation • Maintains equity exposure for growth

• Generates retirement payouts directly from a 401(k) account* • Steady with limited downside • Last for life** • Can go up with the market • Flexible

*Account balance minimums may apply. **Requires purchase of an out-of-plan annuity. Issuer minimum purchase requirements may apply.

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Income+: safe and easy for sponsors

Based on data as of March 31, 2012. For more information on the risks and uncertainties affecting the Company please see our most recent SEC filings, including our Form 10-Q for the period ending March 31, 2012 and our Form 10-K filed for the fiscal year ended December 31, 2011.

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Consistent growth across key top line metrics Members (thousands)

AUM (billions)

Based on Financial Engines data as of March 31, 2012.

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Recurring revenue growth Platform, other Professional Management

Revenue (millions)

~99% of 2011 revenue came from existing employers

Based on Financial Engines data as of March 31, 2012. See our Forward-Looking Statements earlier in this presentation.

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Demonstrated profitability trends Non-GAAP Adjusted EBITDA(1) (millions)

13%

12%

23%

25%

28%

24%

28%

Adj. EBITDA Margin(2)

(1) See Exhibit 99.1 to the Company’s Current Report on Form 8-K filed on May 8, 2012 for a reconciliation of Adjusted EBITDA. Non-GAAP Adjusted EBITDA

is defined as net income before net interest expense (income), income tax expense (benefit), depreciation, amortization of internal use software, amortization of direct response advertising, amortization of deferred commission and stock-based compensation. (2) Adjusted EBITDA as a percent of revenue.

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Q1 2012 highlights(1)

Financial Highlights • Revenue increased 29% to $41.7 million year over year • Professional Management revenue increased 38% year over year to $32.9 million • Net income increased to $3.5 million from $2.6 million a year ago • Non-GAAP Adjusted EBITDA increased 54% year over year to $11.7 million(2)

Business Highlights • Assets under contract were $517 billion • Assets under management were $53.7 billion • Managing over 589,000 individual portfolios • 26+ month enrollment 12.8%(3)

(1) Based on Financial Engines data as of March 31, 2012. (2) Non-GAAP Adjusted EBITDA is defined as net income before net interest expense (income), income tax expense (benefit), depreciation, amortization of

internal use software, amortization of direct response advertising, amortization of deferred commission and stock-based compensation. (3) Enrollment rates and the component AUC are described in the Company’s most recent Form 10-Q. See our Forward-Looking Statements earlier in this presentation.

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Summary

Leader in a large market driven by powerful trends • $9.6 trillion retirement market driven by Boomer demographics • Over 50% of $3.0 trillion 401(k) assets concentrated in large employer plans • Financial Engines enjoys sole access to signed clients of $517 billion AUC

Substantial growth • AUM twice the size of the closest DC managed account competitor • Untapped potential in existing customer base • Growth opportunities from Income+ and adjacent retirement markets

Recurring revenue growth with high margins • Professional management revenue CAGR 40% • ~99% of revenue came from existing employer customers in last 4 years • Non-GAAP Adjusted EBITDA margin of 29% TTM

Source: 2011 Cerulli Study (401(k) asset data and AUM vs. competitors AUM); Financial Engines data as of March 31, 2012 (AUC and AUM). See our Forward-Looking Statements earlier in this presentation.

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Appendix

Definitions AUM is defined as the amount of retirement plan assets that we manage as part of our Professional Management service. Our quarter-end AUM is the value of assets under management as reported by plan providers at or near the end of each quarter. Our members are the plan participants who are enrolled in our Professional Management service as reported by plan providers at or near the end of each quarter. AUC is defined as the amount of assets in retirement plans under contract for which the Professional Management service has been made available to eligible participants. Our AUC and eligible participants do not include assets or participants in plans where we have signed contracts but for which we have not yet made the Professional Management service available. Eligible participants are reported by plan providers as of various points in time For further detail and definitions of other terms used in this presentation, please refer to the Company’s most recent quarterly and annual filings with the SEC. Financial Engines® and Retirement Help for Life® are registered trademarks or service marks of Financial Engines, Inc. Advisory services provided by Financial Engines Advisors L.L.C., a federally registered investment advisor and wholly owned subsidiary of Financial Engines, Inc. Financial Engines does not guarantee future results.

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Reconciliation of GAAP to Non-GAAP Operating Results

(1) For the calculation of non-GAAP Adjusted Net Income, an estimated statutory tax rate of 38.2% has been applied to

stock-based compensation for all periods presented.

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Income+ Provides steady payouts for life

For illustration only. Results may vary under different market conditions. Financial Engines does not guarantee future performance. Lifetime income assumes purchase of an optional out-of-plan fixed immediate annuity before age 85. Financial Engines is not affiliated with any annuity providers.

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Income+ Sell stocks, buy bonds to increase floor

For illustration only. In each subsequent year, any additional increases in income would be evaluated based on market performance and current market conditions. Results may vary under different market conditions. Financial Engines does not guarantee future performance. Lifetime income assumes purchase of an optional out-of-plan fixed immediate annuity before age 85. Financial Engines is not affiliated with any annuity providers.

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