#1Onward TECHNOLOGIES Your Imagination. Delivered to Perfection! INVESTOR PRESENTATION January 2022#2JAN 22 Value Proposition of Onward Tech The Power of One • . • Agile, diverse, global team of 2,450+ employees 13 Offices in 6 countries Investment in new CoEs (Centers of Excellence) to build capabilities & capacity for Digital, Cloud and Embedded/Electronics Skills across Global 2000 customers • 6 of global top-10 automotive companies Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" • Digital play across all lines of business Mechanical Engineering Electronics and Embedded Digital Transformation Enterprise IT 2 Focused industry verticals • Transportation & Mobility Industrial Equipment & Heavy Machinery Diversification and investment in 2 high- growth verticals: Healthcare & Medical Devices, Hi-Tech Revenue (INR Mn) & EBITDA Margin (%) 2,610 2,715 2,404 2,198 6.87% 8.58% 8.58% 7.20% FY19 FY20 FY21 9M-FY22 9M-FY22 Segmental Revenue Digital 8% ITS, 21% O ER&D, 71% • • 5 of global top-8 heavy machinery companies Strong customer base and relationships to fuel double digit growth in top line ₹ Geared for double-digit growth • • Young leadership team from tier-1 companies Focused on growing existing top-25 accounts Margin expansion through India advantage (talent pyramid, costs) Strong Financial Turnaround • . Net debt-free, sound balance sheet & cash reserves 5-year PAT CAGR at 18.16% 6-year track-record of consistent dividend payout 9M-FY22 Segmental Revenue Healthcare 7% Industrial Equipment & Heavy Machinery 46% Others 20% Transportaion & Mobility 28% INVESTOR PRESENTATION 2#3JAN 22 Who We Are - Some Key Milestones • Pune city chosen for expanding operations • Engineering Design Services became the mainstream focus of the company 2001 • Built a dedicated ODC in Pune for one of 2010 the company's top 5 customers • ISO 9001 and ISO 27001 certification for Pune Center • Expansion in Europe by incorporating a wholly owned subsidiary in Germany & Branch office in UK INVESTOR PRESENTATION 1991 2000 Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" . • Mr Harish Mehta founded Onward Technologies in 1991 An independent 50:50 Joint Venture formed with Novell Inc (Onward Novell Pvt. Ltd). Listing on Stock Exchange in India in 1995. Mr Harish Mehta awarded CEO of the year in 1996 by World HRD Congress in India Expanded footprint in North America by incorporating a wholly owned subsidiary in USA 2011 2020 • Mr Jigar Mehta appointed Managing Director in May 2016 Set up multiple ODCs in Pune & Chennai for American & European clients ⚫ Mr Harish Mehta awarded by Prime Minister Narendra Modi for his contributions to the IT Industry • . Investments made in Embedded & Electronics, and Digital capabilities • Expansions planned in India (Bengaluru & NCR) as well as in North America & Europe 3#4JAN 22 Board of Directors Harish S. Mehta - Executive Chairman Experience: 30 Years Other Engagements: NASSCOM, Hinditron-Digital (DEC), Indus Entrepreneurs (TIE), Indian Angel Network (IAN), Small Industries Development Bank of India (SIDBI), Gujarat Venture Funds Limited, Infinity Venture Fund Education: BE, MS Parish Meghani - Director Experience: 15+ Years Other Engagements: Bangalore Spokes Pvt. Ltd. Education: MBA, Product Engineering Jigar H. Mehta - Managing Director Experience: 19 Years Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" Education: Business Administration from Boston University, MA (USA) Jay Sonawala - Director Experience: 22 Years Other Engagements: HDFC Bank Education: MMS- Finance, B.Com Rahul Rathi Director Experience: 16 Years Other Engagements: Purnartha Investment Advisors Pvt. Ltd, Plastiblends India Limited Education: MBA, Polymer Engineering Subrata Kumar Mitra - Director Experience: 44 Years Other Engagements: Bank of India, Standard Chartered Bank, American Express Bank, GIC Mutual Fund, Aditya Birla Group and Independent Director and Committee member in the board of reputed organizations like Asia Asset Management & Governing Council Member of Association of Corporate Independent Directors Education: M Sc, MBA INVESTOR PRESENTATION Prachi Mehta-Director Experience: 15 Years Other Engagements: Founder of The Next Level an organisation that promotes Chess at School and state levels in Maharastra and associated with Indian Angel Network Education: MBA Harsha Raghavan - Director Experience: 25 Years Other Engagements: Fairbridge Capital Private Limited (a Fairfax Company), Candover Investments, Goldman Sachs Principal Investment Area, Indocean Chase Capital Education: MBA, MS 4#5JAN 22 Leadership Team Vignesh Kumar - EVP - Sales (International Business) Experience: 28 years Previous stint: Siemens, TCS Education: BE/MBA Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" CA Devanand Ramandasani - Chief Financial Officer Experience: 15 years Previous Stint: Datamatics, Infosys Education: CA Pratish Mehta - EVP - USA Operations & Global Marketing Head Experience: 15 years Education: BE / MBA Pramod Patil - EVP- Sales (India Business) Experience: ~32 years Previous Stint: JCB, John Deere Education: BE/ MBA / Executive MBA Nirmala Bhat-SVP-Client Engagements Experience: 21 years Previous Stint: Altran, Safran Education: BSc/Masters in HRM Rajesh Nikam-SVP-Delivery Experience: 30 years Previous Stint: LTTS, Tata Elxsi Education: BE Satish Ramanan - SVP and Global Head-Digital Transformation Experience: ~32 years Previous Stint: Teradata, Siemens Education: MCom/MBA Sujata Singh-SVP and Global Head-HR Experience: 21 years Previous Stint: Aker Powergas, WNS Education: MBA INVESTOR PRESENTATION 5#6JAN 22 Strategic Presence Across Geographies Cleveland Chicago Troy ▲ HQ ■Offshore Development Centre Office ⚫ Strategic presence across geographies Stockholm Londono Amsterdam O Frankfurt •Toronto Paris Tokyo Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" NCR Pune Chennai Mumbai Hyderabad Bengalurup FY21 Revenue Breakup - Client Location India 53% 6 Of global top-10 automotive companies USA 36% Europe 5% కళి UK 6% 5 Of global top-8 heavy machinery companies INVESTOR PRESENTATION 6#7Onward TECHNOLOGIES Your Imagination. Delivered to Perfection. BUSINESS OVERVIEW#8JAN 22 Technology Services for Focus Industry Groups Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" Digital Technologies Electronics & Embedded Software ■Digital with AR/VR ■ Engineering Automation Big Data Analytics ■ Cloud & DevOps ■ AI/ML ■ Platform Services - Hardware, Software ■Connectivity Solutions ■ Product Sustenance & Modernization ■ After Market Support ■ Verification & Validation Engineering & Product Design ■New Product Design & Development ■ Value Engineering ■ Virtual Simulation ■ Manufacturing Engineering ■ Technical Publication Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" Core Capabilities & Strengths Transportation & Mobility Industrial Equipment & O Heavy Machinery Healthcare, Medical Tech & Pharma Information Technology ■SW Development & Maintenance Enterprise Business Applications ■Data Management & Reporting ■ Testing & QA Services ■ Enterprise Managed Services Hi Tech & Manufacturing Investing to enhance Capabilities INVESTOR PRESENTATION 8#9JAN 22 Growth Strategy Enablers FY 2021 Top 10 Customers (45%) Top 11-50 Customers (41%) Remaining Customers (14%) Pivot to digital engineering services • • • Invested in the digital maturity curve of our customers See a clear roadmap of growth in digital budgets Witnessing a shift from POC to adoption at scale • Core areas include Industry 4.0, AI/ML, ADAS, cloud and DevOps • Focused verticals and structured LOBS • Leadership team with a strong experience across verticals Focus on Transportation & Mobility, Industrial Equipment & Heavy Machinery Hi-Tech, Healthcare & Medical Devices unlock new, high-growth areas Digital play across all lines of business Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" TARGET FY2025 Top 10 Customers (70%) Top 11-50 Customers (20%) Remaining Customers (10%) ITS 26% • Digital 2% • ER&D 72% Growth in top-accounts • Suitably positioned to scale up TCV from top-25 clients These accounts are part of Global 2000, projecting large R&D allocations Growth/technology-partner status is several accounts Focused on long-duration contracts, recurring revenues, consistent billing growth • People, policies, and performance Continue to upskill, hire the finest talent in digital engineering Agile operations with steadily increasing offshore leverage driving margin expansion HR policies, growth opportunities tuned to enhance career path Benefits aligned with industry standards INVESTOR PRESENTATION Digital Transformation 50% ER&D 50% 9#10World's largest construction equipment manufacturer Leading healthcare major Customer Success Stories Global off-highway equipment manufacturer Onward TECHNOLOGIES Your Imagination. Delivered to Perfection" Global transportation and locomotive company 00 AWS Cloud Toolchest Platform Business Issue Multiple Web based applications for all platform services, most of them are microservices Challenge/s No single unified platform for multiple tools Not able to focus on core activities Services & Benefits Created web-based platform bridging applications & engineers Role based access control, single sign on, detailed log Predictions for future investments New tools development did not require rebuild of platform capabilities Engineering Automation framework Business Issue: Effort intensive and manual review of 2D & 3D drawings Challenge/s: Errors due to absence of intuitive & automated tools Services & Benefits: Designed and developed container-based architecture on the cloud ML model that could learn test cell output and feedback to NPI programs Image processing and Image-based search Productivity doubled to 55% with 92% accuracy Product Re-design Business Issue A major healthcare facility was looking to revamp and re-design their hospital beds Challenge/s Old Hospital beds were uncomfortable and posing risks to patients Services & Benefits Design specialists reverse engineered the entire hospital bed basis only photographs and w/o any CAD models/drawings Embedded new electronic parts to automate the bed for enhanced patient safety and comfort Compatible 3D printing designs developed for cost-effective production. Value Engineering Business Issue: Steadily increasing costs to build a locomotive engine Challenge/s Too many parts and suppliers across the globe Services & Benefits Consulting led by domain experts in the manufacturing and design process Cost engineered the client's entire diesel locomotive engine Also supported the client in finding low- cost vendors >$4 mn in overall cost savings JAN 22 INVESTOR PRESENTATION 10 10#11Onward TECHNOLOGIES Your Imagination. Delivered to Perfection. INDUSTRY OVERVIEW#12. • Engineering R&D Service Industry In 2020, the global Engineering R&D spend was USD 1.2 Tn, with corporate Engineering R&D spend being USD 772 Bn. In 2021, Indian firms clocked USD 35.9 Billion in ER&D service exports, according to NASSCOM. As the largest exporter of ER&D services, this has huge implications for India, and the opportunity could be as large as USD 100 Billion. India is rapidly emerging as the destination for innovation and technology by tapping into its robust and thriving start-up ecosystem. Additionally, proactive and supportive policies are also an attractive advantage. Recent investments and government initiatives such as Make in India, Skill India, Digital India, and Start- up India have significantly contributed to establishing the country as an attractive destination for ER&D and innovation. India surpassed China in attracting funds for engineering R&D, clearly marking India as the next destination for high-end ER&D. Of the overall USD 100 Billion spent globally on outsourced ER&D, India accounted for about USD 31 to USD 32 Billion. Global companies across Asia are increasing investment in India to leverage the country's advantages in talent, cost, and policy support. India, today, is home to more than 1,430+ Global Capability Centers (GCCs) that conduct offshore product development and provide product engineering services for their headquarters. These GCCs represent some of the largest Fortune 500 companies that have their largest or second-largest R&D centers located here, including GE, Samsung, Cisco, Intel, Daimler Benz, Airbus, Boeing, and Bosch. Currently, there are approximately 1.4 Mn+ engineers involved in ER&D in the country. To service a USD 85 Billion market, we will need to add another one million engineers in the next five years. Over the last 5 years, this industry has witnessed a 75% growth in employee-base and a 11% CAGR in revenues, while significantly supporting their global organizations digital transformation journey. Source: Nasscom, Zinnov, FutureFactor360 Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" 2020 Global ER&D Spend Expected future CAGR of 7% USD 1.2 Tn USD 35.9 Indian ER&D Exports 18-20% share of Indian IT Bn industry revenue 1.4 ER&D employees 12-13% share of industry workforce Mn+ +1,430 Global Capability Centres in India ER&D Market Size (In USD Bn) 2,200 1,200 85 36 2020 E2025 India Global JAN 22 INVESTOR PRESENTATION 12 122#13JAN 22 Digital Transformation The covid-19 pandemic has accelerated the demand for hi-tech by shrivelling human activity into a world of apps. The explosion in online activity has galvanized massive cloud-led adoption, digital adoption, and transformation of the core. Global digital penetration has been reset at lower levels in light of emerging realities, thereby resetting the high-growth phase for technology from up to FY24 to up to FY27 in the least. Software & Internet vertical is the largest contributor to ER&D Spend, with USD 196 Billion and also contributes ~40% to the overall Digital Engineering spend, driven by investments in Digital Engineering Stack and new-age technologies such as AI/ML, AR/VR, Big Data Analytics, and Blockchain. Digital Engineering is accelerating across industries and is led by Software & Internet, which accounts for USD 160 Billion and is expected to grow at a 22% CAGR to reach USD 527 Billion by 2025. Enterprises are making significant investments in Digital Engineering initiatives to continue to stay relevant. Services-led verticals such as BFSI, Media & Technology, Retail, Healthcare Payers & Providers, and Travel & Hospitality are rushing to build new products and services to drive differentiation, thereby creating ER&D opportunities for providers. Indian software industry body Nasscom forecasts 15-20% CAGR growth in digital transformation spend globally. Enterprise digital transformation spend globally is currently at USD 1.04 Trillion. It also forecasts Indian digital economy would catapult to a USD 1 Trillion industry by 2025 from USD 200 Billion in 2020. According to a report by EY, Of the 500 corporates surveyed, for the largest share of their investment over the past two years, the top four were cloud (60%), data and advanced analytics (52%), the Internet of Things (IoT) (50%) and Al (47%). Source: Zinnov, Nasscom, Edelweiss Research, EY HealthCare USD Indian Digital Economy USD 200 Bn 1 Tn 2020 2025 Key Drivers Digital Payments Automotive, industrial, and healthcare: Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" e-Commerce Top 3 verticals in terms of propensity of adoption of digital engineering $ Healthcare Telecom Aerospace & Defense Computing systems Scale Industrial Semiconductors Automotive Consumer electronics *Scale of each vertical is calculated based on the digital ER&D spend and Year-on-Year (YOY) growth of digital ER&D spend in 2019 *Propensity of digital engineering adoption score for each vertical is based on the number of digital engagements between enterprises and service providers, and variety of use cases delivered by the GCCs for the enterprise in 2019 INVESTOR PRESENTATION 13 33#14Onward TECHNOLOGIES Your Imagination. Delivered to Perfection. FINANCIAL OVERVIEW#15JAN 2022 Historical Consolidated Profit & Loss Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" Particulars (INR Mn) FY19 FY20* FY21* 9M-FY22 Operational Income 2,610 2,715 2,404 2,198 Total Expenses 2,386 2,482 2,231 2,047 EBITDA 224 233 173 151 EBITDA Margins (%) 8.58% 8.58% 7.20% 6.87% Other Income 12 11 53 199 Depreciation 57 113 104 74 Finance Costs 27 35 23 7 PBT Tax Profit After tax PAT Margins (%) 152 96 99 269 51 34 25 64 101 62 74 205 3.87% 2.28% 3.08% 9.33% Other Comprehensive Income Total Comprehensive Income Diluted EPS (INR) 8 19 (3) 109 81 71 205 6.17 3.76 4.35 11.13 * FY20 and FY21 numbers have been restated after inclusion of Onward eServices Ltd, a wholly owned subsidiary, which has been merged with Onward Technologies Ltd as on March 25, 2021. 9M/Q3-FY22 EARNINGS PRESENTATION 15 5#16Historical Consolidated Balance Sheet Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" Particulars (INR Mn) FY19 FY20 FY21 H1-FY22 Particulars (INR Mn) FY19 FY20 FY21 H1-FY22 ASSETS EQUITY AND LIABILITIES Non-Current Assets Equity Property, Plant & Equipment 98 80 171 174 Share Capital 158 160 163 176 Intangible assets 57 41 39 33 Other Equity 452 520 581 950 Intangible assets under 2 1 Total Equity 610 680 744 1,126 development Right of use asset 159 88 Non Current Liabilities 86 Financial Assets (i) Loans Deferred tax assets (i) Borrowings 6 6 6 29 30 31 31 (ii) Lease liabilities 109 55 55 17 28 33 36 Provisions 34 25 48 48 Income tax assets (net) 158 193 111 147 Deferred tax liabilities. 5 7 27 Other non-current assets 6 2 Sub Total Non Current Liabilities 45 141 109 136 Sub Total Non Current Assets 367 533 474 507 Current Liabilities Current Assets (i) Borrowings 155 181 146 1 Financial Assets (i) Investment 1 143 (ii) Trade Payables 61 76 72 89 (ii) Trade Receivables 489 498 408 454 (iii) Other Financial Liabilities 141 133 151 172 (iii) Cash & cash equivalents 43 178 285 362 (iv) Lease Liabilities 57 43 41 (iv) Bank balance other than Provisions 10 21 14 20 8 44 9 9 above Income tax liabilities 5 (v) Contract assets 86 42 134 153 Contract liabilities 1 5 30 34 (vi) Other financial assets 11 1 1 4 Other current liabilities 44 62 67 74 Income tax assets (net) 19 Sub Total Current Liabilities 412 540 523 431 Other Current Assets 44 65 64 61 Sub Total Liabilities 457 681 632 567 Sub Total Current Assets TOTAL ASSETS 700 828 902 1,067 1,361 1,376 1,186 1,693 TOTAL EQUITY AND LIABILITIES 1,067 1,361 1,376 1,693 JAN 22 INVESTOR PRESENTATION 16#17JAN 22 Historical Standalone Profit & Loss Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" Particulars (INR Mn) FY19 FY20* FY21* 9M-FY22 Operational Income 1,182 1,806 1,727 1,679 Total Expenses 1,032 1,660 1,531 1,570 EBITDA 150 145 196 109 EBITDA Margins (%) 12.69% 8.03% 11.35% 6.49% Other Income 50 65 85 37 Depreciation 48 102 93 66 Finance Costs 21 33 21 7 PBT Tax Profit After tax PAT Margins (%) 131 75 167 73 37 21 40 19 94 54 127 54 7.95% 2.99% 7.35% 3.22% Other Comprehensive Income Total Comprehensive Income Diluted EPS (INR) (4) 3 1 (1) 90 57 128 53 5.70 3.26 7.50 2.95 * FY20 and FY21 numbers have been restated after inclusion of Onward eServices Ltd, a wholly owned subsidiary, which has been merged with Onward Technologies Ltd as on March 25, 2021. INVESTOR PRESENTATION 17#18Historical Standalone Balance Sheet Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" Particulars (INR Mn) FY19 FY20 FY21 H1-FY22 Particulars (INR Mn) FY19 FY20 FY21 H1-FY22 ASSETS EQUITY AND LIABILITIES Non-Current Assets Equity Property, Plant & Equipment 75 70 164 166 Intangible assets 56 41 39 33 Share Capital 158 160 163 176 Intangible assets under Other Equity 454 455 573 810 2 1 development Total Equity 612 615 736 986 Right of use asset 146 83 72 Non Current Liabilities Financial Assets (i) Borrowings 1 6 5 (i) Investments 388 121 121 136 (ii) Loans 20 29 (ii) Lease liabilities 104 55 47 (iii) Other Financial Assets 28 29 Employee benefit obligations Deferred tax assets 5 27 23 32 Sub Total Non Current Liabilities 22 21 25 46 54 22 129 107 106 Income tax assets (net) 101 193 111 146 Current Liabilities Other non-current assets 4 1 Sub Total Non Current Assets 651 628 570 615 (i) Borrowings 161 68 1 Current Assets (ii) Trade Payables 46 96 78 88 Financial Assets (iii) Other Financial Liabilities 79 92 126 131 (i) Investments 1 143 (iv) Lease Liabilities 48 38 35 (ii) Trade Receivables 215 339 283 322 (iii) Cash & cash equivalents 21 75 119 158 Provisions 9 20 11 10 (iv) Bank balance other than above 3 42 10 9 Contract liabilities 24 58 28 82 (v) Contract assets 36 32 127 167 Other current liabilities 27 52 48 41 (vi) Other financial assets 21 3 2 7 Sub Total Current Liabilities 346 434 329 388 Other Current Assets 33 58 61 59 Sub Total Liabilities 368 563 436 494 Sub Total Current Assets 329 549 602 865 TOTAL ASSETS 980 1,178 1,172 1,480 TOTAL EQUITY and LIABILITIES 980 1,178 1,172 1,480 JAN 22 INVESTOR PRESENTATION 18#19JAN 2022 Consolidated Financial Highlights Revenue (INR Mn) EBITDA (INR Mn) Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" PAT (INR Mn) 205 2,610 2,715 2,404 2,198 224 233 173 151 9.33% 8.58% 8.58% 101 7.20% 6.87% 3.87% 62 2.28% 74 3.08% FY19 FY20 FY21 9M-FY22 FY19 FY20 FY21 9M-FY22 FY19 EBITDA EBITDA Margin FY20 PAT FY21 PAT Margin 9M-FY22 0.18 Net D/E (x) DSO ROE and ROCE (%) 27.36% 73.97 75.53 71.43 67.43 15.97% 14.22% 53.43 62.96 62.20 16.61% (0.0... (0.19) 56.86 (0.27) 9.16% 9.85% FY20 FY21 FY19 FY20 FY21 H1-FY22 FY19 FY20 FY21 DSO with Unbilled in Days H1-FY22 Billed DSO in Days FY19 9M/Q3-FY22 EARNINGS PRESENTATION ROE (%) -ROCE (%) 19#20Revenue Metrics (Consolidated) JAN 22 Revenue by Business Revenue by Industry 4% 5% 8% 7% 2% 8% 34% 27% 20% 26% 31% 27% 26% 21% 26% 28% 24% 26% 69% 73% 72% 71% 36% 42% 42% 45% FY19 FY20 FY21 9M-FY22 ER&D ITS Digital Revenue by Contract Type FY19 FY20 FY21 9M-FY22 Industrial & Heavy Machinery Transportation & Mobility Others Healthcare Revenue by Engagement Model 30% 32% 30% 32% 26% 22% 25% 24% 70% 68% 70% 68% 74% 78% 75% 76% FY19 FY20 FY21 9M-FY22 Time and Material Fixed Time, Fixed Price INVESTOR PRESENTATION FY19 FY20 FY21 9M-FY22 Onsite ■Offshore Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" 20 20#21Customer Metrics (Consolidated) Client Deal Size Breakup JAN 22 Revenue of Major Clients 14% 1 8% 12% 7% 5 1 29% 32% 31% 31% 8 9 3 46% 47% 45% 47% 4 3 9 8 FY19 FY20 FY21 9M-FY22 FY19 USD 3 Mn > USD 1 Mn > USD 3 Mn USD 500K > USD 1 Mn Revenue by Client location 5% 5% 6% 8% 5% 4% 5% 5% 38% 41% 36% 33% 52% 51% 53% 54% FY19 FY20 FY21 9M-FY22 India USA Europe UK INVESTOR PRESENTATION FY20 FY21 9M-FY22 Top 10 Clients ■Top 5 Clients ■Top Client Strategic Global Customers Added 5 3 3 FY19 FY20 FY21 9M-FY22 Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" 24 21#22Employee Metrics (Consolidated) Headcount by Location Headcount by Business 128 102 105 196* 120 121 6 46 108 114 293 197 1,466 1,397 803 824 2,429 2,377 1,973 2,360 FY19 FY20 FY21 9M-FY22 India Headcount Headcount Outside India Headcount by Function 983 949 958 1,189 FY19 FY20 ER&D IT Service 102 105 196 * 38 26 32 32 108 44 32 38 59 23 2,391 2,328 1,918 2,182 FY19 FY20 FY21 9M-FY22 Billable Bench (Unbilled) Sales G&A JAN 22 INVESTOR PRESENTATION Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" FY21 9M-FY22 Digital Transformation G&A *includes 50 people onboarded under E-TAP 22 22#23Hedging & Other Metrics Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" Other Ratios FY19 FY20 FY21 Q3-FY22 Carpet Area 70,873 71,948 65,285 65,285 Number of seats 889 906 847 847 PBT to Revenue% 5.82% 3.55% 4.08% 9.38% Number of active clients 199 210 184 159 JAN 22 Gain Over 50% Hedge Hedging Details for Q3-FY22* Hedge Rate Hedge Amount (Mn) Actual Rate Achieved rate (INR, Lakh) USD EUR GBP 75.27 0.48 75.36 0.89 88.54 0.11 88.45 (0.18) 102.22 0.14 102.63 1.75 *The performance is benchmarked against a 50% hedge rate - average of Day 1 forward rate and spot on maturity/current MTM for outstanding exposure. INVESTOR PRESENTATION 223#24JAN 22 Capital Market Data 250% 200% 150% 100% 50% 0% -50%Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Face Value Market Price 52 Week H/L Onward Sensex Price Data (As of 31st December 2021)* Market Cap (INR Mn) Equity Shares Outstanding (Mn) 1 Year Avg. Trading Volume ('000) 1 Year Avg. Net Turnover (Mn) Dividend per Share (INR) 1.50 1.50 1.00 3.00 FY18 FY19 FY20 FY21 Onward TECHNOLOGIES Your Imagination. Delivered to Perfection" Shareholding Pattern (as on 31st December, 2021) 10.0 294.5 319.2/82.1 6,458.7 Public 53.27% 21.9 130.6 FII 21.4 0.22% INVESTOR PRESENTATION AIF 0.54% O Promoters 45.97% 24 24#25Disclaimer Onward TECHNOLOGIES Your Imagination. Delivered to Perfection!" Onward Technologies Limited No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness, or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward-looking statements" based on the currently held beliefs and assumptions of the management of Onward Technologies Limited, which are expressed in good faith and in their opinion reasonable, including those relating to the Company's general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment. Forward-looking statements involve known and unknown risks, uncertainties, and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company or industry results to differ materially from the results, financial condition, performance, or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Company's business, its competitive environment, and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties, and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments. This presentation is for general information purposes only, without regard to any specific objectives, financial situations, or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration therefrom. This presentation is confidential and may not be copied or disseminated, in whole or in part, and any manner. Valorem Advisors Disclaimer: Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness, and reasonableness of the contents of this Presentation. This Presentation may not be all-inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review. For further details, please feel free to contact our Investor Relations Representatives: XX® VALOREM ADVISORS Mr. Anuj Sonpal Valorem Advisors Tel: +91-22-4903 9500 Email: [email protected] JAN 22 INVESTOR PRESENTATION 25 25#26Onward TECHNOLOGIES Your Imagination. Delivered to Perfection. THANK YOU in 26