#1EARNINGS PRESENTATION ● Q1 FY23 July 2022 Copyright ©2020 Tech Mahindra. All rights reserved. Tech Mahindra#2Q1'23 Snapshot $1,632 Mn Revenue 8.9% PAT Margin Copyright 2020 Tech Mahindra. All rights reserved. 11.0% EBIT Margin $ 802 Mn Net New Deal Wins $ 72 Mn Free Cash flow#3Business Highlights Q1 FY23 ↑ FINANCIAL Revenue 1.5% (3.5% cc) EBIT % ↓ 220 bps PAT % ↓ 350 bps (+6,862) IT LTM attrition 22.2% (down 130 bps) OPERATIONAL SEGMENT GEOGRAPHY Headcount CME 158,035 ↑ 1.0% Enterprise ↑ 1.9% Utilization (incl trainees) 82.8% ↑ (down 30 bps) (3.9% cc) (3.2% cc) IT Services 1.4% (3.3% cc) Americas 4.4% (+4.0% cc) Europe ↓ 1.9% (+3.9% cc) ROW ↓ 0.4% (+2.4% cc) BPS FCF to PAT % Active Customers 50.2% Copyright 2020 Tech Mahindra. All rights reserved. 1262 (up by 38) ↑ 2.1% All trends are QoQ (5.1% cc)#4Management Commentary CP Gurnani CEO, Tech Mahindra We are starting this fiscal with a renewed commitment towards delivering consistent organic growth. We remain resilient and watchful given the dynamic global macro- economic environment and will continue to invest in new and emerging technologies to deliver differentiated offerings. Our winning strategy rests on the pillars - 'Purpose, People and Performance' which is aiding us to responsibly capitalize on the strong demand environment in the market Copyright 2020 Tech Mahindra. All rights reserved. 4#5Business Update Q1FY23 ✓ 5G, Cloud Al-Ops continue to drive CME ✓ Focussed Insurance business launched ✓ Manufacturing @ $1Bn run-rate Strategy ESG ✓ Ranked second with a sustainability score of 46, in the Capri Global Capital HURUN Impact 50 for SDG Goals ✓ Published the Integrated Annual Report for FY22 ✓ Digital Product, Cloud Native Engg. are major trends in Insurance ✓ AI/ML, data engineering and experiences continues to drive global transformation demand Customers Operations Net Hiring of 6800+ people ✓ Quarterly Attrition has reduced sequentially Offshoring continues to increase Copyright © 2020 Tech Mahindra. All rights reserved. 5#6Vertical Performance: Q1'23 VERTICALS Communications, Media & Entertainment 5054894 Banking, Financial Services & Insurance Manufacturing Technology Retail, Transport & Logistics Others % SHARE 40.4% 16.7% 15.3% 9.7% 7.9% 10.0% % QoQ +1.0% -2.9% +3.9% +6.4% +5.5% +0.2% % YoY +19.1% +20.0% +8.9% +30.3% +21.2% +12.1% Copyright 2020 Tech Mahindra. All rights reserved.#7Net New Deal Wins Select Deals: Total TCV Q1 FY23 : $ 802Mn Selected by a leading security services company in Europe to transform and manage its cross functional arms through infrastructure, cloud and application modernization to enhance End User experience Copyright 2020 Tech Mahindra. All rights reserved. Chosen by a leading financial institution in Europe to digitally transform its end-to-end BPO + ITO services across different product divisions and establish a more customer-centric service delivery model Selected by a leading Insurance Carrier in the US for Cloud transformation, End to End Infra managed services including data center management and network services Chosen by a telecom giant in the US to jointly scale its operations through the co-creation of captive center for BSS & OSS operations enabling the Telecom IT talent build-out for 5G and wireless technologies#8Strategic Highlights COLLABORATIONS Tech Mahindra launched AmplifAl- a suite of Al offerings containing our platforms GAIA, an AI & ML Ops platform; Sayint, an advanced speech analytics solution and MobiLytix, Al-powered marketing studio to democratize & scale the deployment of Al in a responsible manner. Tech Mahindra announced collaboration with Keysight Technologies to certify 5G equipment in it's 5G O-RAN test lab facility in New Jersey. This will enable the lab to perform end- to-end validation of designs developed by OEMs in compliance with ORAN alliance specifications. Tech Mahindra has announced a partnership with Amesto Aces AS, to provide trained & certified Salesforce resources to its customers across Europe. Along with deep industry expertise this will help Amesto to address the current shortage of skilled resources in the region Copyright © 2020 Tech Mahindra. All rights reserved. ✓!! OTHER HIGHLIGHTS Makers Lab, R&D arm of Tech Mahindra, launched first- of-its-kind, 'Meta Village', a digital twin of Pargaon in Maharashtra to gamify learning on the Roblox platform. Using Roblox, students can learn coding in Bharat MarkUp Language (BHAML), a platform built by Makers Lab to help code in native language. The International Chess Federation and the All-India Chess federation strengthen their partnership with Tech Mahindra, to provide next-generation digital fan experience by leveraging Fan Nxt.Now. As part of this global tie-up, Tech Mahindra will come on board as a digital partner for the 44th edition of FIDE chess Olympiad which will take place in India for the 1st time 8#9People Updates Tech Mahindra won the Golden Peacock for HR Excellence for the 3rd year in a row Tech Mahindra has won the "Most Preferred Workplace 2022-23" at the India Today Summit Improved Gender diversity from 34.1% to 34.4% Copyright 2021 Tech Mahindra. All rights reserved.#10ESG Focus: Sustainability Ranked 2nd amongst the Top 35 companies in Businessworld India's Most Sustainable Companies 2022 in this year's "The Sustainable World 2022 Summit" organized by Business World. Ranked second with a sustainability score of 46, in the Capri Global Capital HURUN Impact 50 for SDG Goals Published the Integrated Annual Report for FY22 Recorded healthy Sustainability savings: Increased Renewable Energy to 22.93% ►Reduced Scope 1+2 emissions by 10.09% Reduced Energy Consumption by 7.6% Copyright 2021 Tech Mahindra. All rights reserved. 10#11ESG Focus: Social Students from economically challenged backgrounds studying in our SMART Academy for Healthcare, Pune received affiliations & training certifications from NSDC, MSBVE for vital technical-grade roles in medicine A satellite Transgender Centre for beauty and wellness is recently inaugurated in Damana, Bhubaneswar, as extension of the existing training unit for Transgenders. Pune Academy conducted BLS upskilling workshop in 5 hospitals including a government hospital for 200+ participants Copyright 2020 Tech Mahindra. All rights reserved.#12Management Commentary Rohit Anand CFO, Tech Mahindra Delivery transformation, cost optimization and cash conversion will be key focus areas, as we continue to offset the strong supply side headwinds in the market. We aim to expand our profitability through operational excellence and improved operating metrics over the course of FY'23. Copyright 2020 Tech Mahindra. All rights reserved. 12#13Financial Snapshot: Q1'23 REVENUE ($ Mn) GROSS PROFIT ($ Mn) EBIT ($ Mn) PAT ($ Mn) 198 471 1,608 1,632 209 211 183 459 438 177 1,384 143 Q1'22 Q4'22 Q1'23 Q1'22 Q4'22 Q1'23 Q1'22 Q4'22 Q1'23 Q1'22 Q4'22 Q1'23 DILUTED EPS (Rs) 16.9 15.3 172 12.8 FCF ($ Mn) 111 12 72 CASH & EQUIVALENTS ($ Mn) ROCE % 1,818 26.9% 27.9% 1,141 1,114 20.9% Q1'22 Q4'22 Q1'23 Q1'22 Q4'22 Q1'23 Q1'22 Q4'22 Q1'23 Q1'22 Q4'22 Q1'23 Copyright ©2020 Tech Mahindra. All rights reserved.#14Operational Snapshot: Q1'23 HEADCOUNT 126,263 UTILIZATION (including trainees) IT ATTRITION (LTM) HEADCOUNT MIX (Onsite) 158,035 151,173 88% 24% 22% 28.3% 27.2% 27.2% 83% 83% 17% Q1'22 Q4'22 Q1'23 Q1'22 Q4'22 Q1'23 Q1'22 Q4'22 Q1'23 Q1'22 Q4'22 Q1'23 ACTIVE CLIENTS TOP 10 CLIENTS 1262 31.2% 31.2% 1224 29.9% 1058 50 Mn+ CLIENTS 22 23 22 23 23 DSO 33 97 100 93 Q1'22 Q4'22 Q1'23 Q1'22 Q4'22 Q1'23 Q1'22 Q4'22 Q1'23 Q1'22 Q4'22 Q1'23 Copyright ©2020 Tech Mahindra. All rights reserved.#15Other financial highlights CASH CONVERSION Free cash flow at $ 71.6 Mn, conversion to PAT at 50.2% TREASURY ✓ Hedge book at $ 2,275 Mn compared to $ 2,233 Mn in Q4 FY22 OTHERS ✓ Tax rate at 22.8% in Q1 FY23, compared to 17.5% in Q4 FY22 ✓ DSO @100 days in Q1 FY23 compared to 97 days in Q4 FY22, largely driven by currency impact ✓ USD / INR Q1 FY23 average exchange rate at 77.68, depreciation of 3.2% QoQ and depreciation of 5.4% YoY. Copyright 2020 Tech Mahindra. All rights reserved. 15#16Financial Summary: Q1'23 in $ Mn Q1'23 QoQ YoY Revenue 1,632 1.5% 18.0% EBIT EBIT % Other Income Miscellaneous + Interest Income Exchange Gain/(Loss) Profit Before Tax Provision for tax 177 -16.2% -15.3% 11.0% 16 -62.9% -59.6% 9 7 188 -24.0% -22.7% 43 Profit After Tax PAT % 143 -28.0% -22.0% 8.9% EPS (Basic) in Rs 12.84 EPS (Diluted) in Rs 12.78 Copyright 2020 Tech Mahindra. All rights reserved.