The following sequence of procedures you need to perform are summarized in this :
Observe extraction of files to a temporary folder.
Accept the License Agreement.
Remove the check mark next to "Launch the Add Printer Wizard after extraction completes".
Extract to C:\Lexmark\Lexmark_Universal_v2_UD1_PS .
Note: Make sure to take note of this path.
Locate the extraction location via File Explorer > This PC> Local Disk (C:) > Lexmark > Lexmark_Universal_v2_UD1_PS > Drivers > Print > GDI and copy this directory path (Ctrl +C).
Open Control Panel > Hardware and Sound > View devices and printers.
Click Print server properties > Drivers tab > Change Driver Settings > Add.
Click Next in Add Printer Driver Wizard.
Select x86 for 32-bit, and x64 for 64-bit OSes/drivers.
Click Have Disk...
Press Ctrl + V in dialog box for Copy manufacturer's files from: to paste the directory C:\Lexmark\Lexmark_Universal_v2_UD1_PS\Drivers\Print\GDI.
Highlight the printer and clicking Next, and then Finish
Note: Notice a new printer driver entry appears under Print server properties.
Select Add a printer.
Select Add a printer using aTCP/IP address or hostname, and click Next.
Select Device type: TCP/IP Device.
Enter the printer's Hostname or IP Address, and click Next.
Select Lexmark from the Manufacturer list.
Locate the printer driver under Printers, and click Next.
Note: This is the same driver you saw under Print server properties.
Select Replace the current driver, and click Next.
Type a printer name (optional).
Click Next to see Installing printer....
Select Share this printer so that others on your network can find and use it.
Enter a share name, click Next.
Note: A new printer appears under Devices and Printers.