#1Mastek◆ Trust. Value. Velocity Investor Presentation - Q1FY23 20 July, 2022 Presented by: Hiral Chandrana | Global Chief Executive Officer, Mastek Group Arun Agarwal | Global Chief Financial Officer, Mastek#2Table of Contents 01 02 Highlights of the Quarter Financial & Operational Performance 03 04 05 Key Wins for the Quarter Acquisition Update Vision 2025 & Strategic Priorities Investor Presentation - Q1FY23 2 © Copyright Mastek, 2022. All Rights Reserved#324 gon Mw2.200 Ap220 10036 6142 Date/Confermed May22025 7297 14127 8048 3675 Amount alue 01 HIGHLIGHTS OF THE QUARTER 32 ANALYSIS 3 Australia 90% 75% 3 AY I JUNI JULI AUG SEP RE YOUR TEXT HERE#4Highlights of Q1FY23 Total Income Growth Year-on-Year 14.4% Op. EBITDA Margin 19.2% Fortune 1000 Clients For Q1FY23 21 Q1FY23 revenue at Rs 570.3 Crore Q1FY23 PAT Rs 84.4 Crore 1. S Headcount on 30 June 2022 5,553 Employees 12 Months Order backlog at Rs 1,509.3 Crore Revenue grew by 10.4% YoY 13.4% YoY (CC) PAT margin of 14.2% Freshers hired during Q1FY23 400+ Mastek acquires MST Solutions, a leader in Salesforce ecosystem 12 months order backlog grew by 4.0% QoQ (CC) 31.1% YoY (CC) Investor Presentation - Q1FY23 4 © Copyright Mastek, 2022. All Rights Reserved#5Factors impacting Q1FY23 Revenue growth 1. Currency impact driven by GBP/USD movement in current quarter Average exchange rate of $1.26/£ in Q1FY23 vs average exchange rate of $1.34/£ in Q4FY22 Pause in a key program in a large healthcare account 2. 3. Slower than expected ramp ups 4. Delayed decision making on high probability deals Our revenue growth would have been 3% to 4% QoQ, if above factors (1 & 2) would not have occurred Investor Presentation - 5 Q1FY23 © Copyright Mastek, 2022. All Rights Reserved#6Awards & Recognitions Fortune India Next 500 Lifetime Achievement Award L&D Excellence Award Gartner Recognition Future Ready Organization Inspiring CEO Award Gartner FUTURE READY ORGANISATIONS 2022-2023 Mastek has ranked 36 on the prestigious list of Fortune India Next 500 for 2022 as one of the largest emerging companies in the country Ashank Desai, MD and Vice Chairman of Mastek and co- founder of NASSCOM, was awarded the Dataquest 'Lifetime Achievement Award' at the prestigious 29th edition of ICT Business Awards, for his outstanding contribution to the IT industry Mastek's People Skills & Development (PS&D) team has won the award for "L&D Excellence" at the 8th Edition of the "Future Of L&D Summit & Awards" Evosys - A Mastek Company, for the 4th year in a row, is recognized in the 2022 Gartner Magic Quadrant for Oracle Cloud Applications Services, Worldwide. We are positioned as a Niche Player in Gartner MQ Mastek has been featured in 'Economic Times Future-Ready Organizations 2022 - 23' list. Hiral Chandrana, Global CEO - Mastek Group has been recognized as an Inspiring CEO at the 2nd Edition of "The Economic Times CEOs Conclave with the theme "Stalwarts in Excellence: Redefining the Future" Investor Presentation - Q1FY23 6 © Copyright Mastek, 2022. All Rights Reserved#724 gon Mw2.200 Ap220 10036 6142 7297 8048 14127 3675 Date/Confermed Amount まままま 90% 75% © Copyright Mastek, 2022. All Rights Reserved AY I JUNI JULI AUG Investor Presentation - Q1FY23 7 RE Australia YOUR TEXT HERE 02 FINANCIAL & OPERATIONAL PERFORMANCE ANALYSIS 3 32#8Financial Performance Revenue from Operations (Rs Crore) Operating EBITDA Margin --PAT Margin 23.5% 21.9% 21.8% 21.1% 21.1% 21.1% 20.8% 19.2% 17.3% 17.6% 13.3% 13.8% 11.8% 15.7% 15.6% 15.4% 15.1% 15.0% 14.3% 14.7% 14.2% 11.0% 11.6% 9.6% 9.7% 10.3% 248 244 244 337 386 410 443 483 Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 517 Q1FY22 534 Q2FY22 552 Q3FY22 582 570 Q4FY22 Q1FY23 Investor Presentation - Q1FY23 8 © Copyright Mastek, 2022. All Rights Reserved#9Consolidated Financial Summary - Q1FY23 Growth Key Performance Metrics Q1FY23 Q4FY22 Q1FY22 QoQ Growth YOY Revenue from Operations ($mn) $73.6 $77.2 $70.2 (4.7)% 5.0% I Revenue from Operations (Rs Crore) 570.3 581.5 516.5 (1.9)% 10.4% Revenue Other Income (Rs Crore) 25.8 17.9 4.7 43.6% 448.0% Total Income (Rs Crore) 596.0 599.5 521.2 (0.6)% 14.4% Op. EBITDA 109.2 120.7 112.8 (9.5)% (3.2)% Margins (Rs Crore) Total EBITDA 135.0 138.6 117.5 (2.6)% 14.9% PBT 121.9 ¦ 123.9 106.0 (1.6)% 15.0% I PAT 84.4 88.2 80.2 (4.4)% 5.2% Op. EBITDA 19.2% 20.8% 21.8% (160) bps (268) bps Total EBITDA 22.6% 23.1% 22.5% (48) bps 11 bps Margin (%) PBT 20.5% 20.7% 20.3% (22) bps 11 bps PAT 14.2% 14.7% 15.4% (56) bps (124) bps Basic 25.7 26.7 27.4 I EPS (Rs) Diluted 25.1 26.1 26.4 In Q1FY23 - Revenue from operations grew by 13.4% YoY and witnessed marginal drop of 0.1% on QoQ basis in Constant Currency (CC) Investor Presentation - Q1FY23 9 Copyright Mastek, 2022. All Rights Reserved#10Consolidated Financial Highlights Q1FY23 Comparison: Quarter-on-Quarter and Year-on-Year (Figures in Rs Crore) Operating Revenue Operating EBITDA & Margin (%) PAT & Margin (%) 516.5 21.8% 20.8% 19.2% 14.7% 14.2% 581.5 15.4% 570.3 120.7 112.8 88.2 84.4 109.2 80.2 12 Months Order Backlog 1,469.1 1,509.3 1,177.7 Q1FY22 Q4FY22 Q1FY23 Q1FY22 Q4FY22 Q1FY23 Q1FY22 Q4FY22 Q1FY23 Q1FY22 Q4FY22 Q1FY23 (1.9)% QoQ (0.1)% QoQ (CC) (9.5)% QoQ 10.4% YoY 13.4% YoY (CC) (3.2)% YoY (4.4)% QoQ 2.7% QoQ 4.0% QoQ (CC) 5.2% YoY 28.2% YoY 31.1% YoY (CC) Investor Presentation - Q1FY23 10 © Copyright Mastek, 2022. All Rights Reserved#11Balance Sheet Metrics Q1FY23 - Consolidated (Figures in Rs Crore) Cash & Cash Equivalent 848.9 794.0 664.6 25.6% Return on Equity# Return on Capital Employed# 29.5% 33.6% 31.4% 27.3% 24.2% FY21 FY22 Q1FY23 FY21 FY22 Q1FY23 FY21 FY22 Q1FY23 Net Cash FY21: Rs 588.6 Crore FY22: Rs 603.3 Crore Q1FY23: Rs 490.0 Crore # Return on Equity = PAT/Average Networth; Return on Capital Employed EBIT/Average Capital Employed Investor Presentation - Q1FY23 11 © Copyright Mastek, 2022. All Rights Reserved#12Operating Metrics Q1FY23 Strengthening our business Q1FY23 I Q4FY22 Q1FY22 New Clients Added I 33 49 40 Active Client during the Quarter 402 450 452 Client Base I Top 5 28.7% 30.1% 33.0% Top 10 41.1% 43.1% 47.7% + Total Employee 5,553 4,977 4,302 Employee Base Offshore - Onsite 4,208 3,682 3,181 1,345 1,295 1,121 I Days DSO FX Hedge: for next 12 months Diversity (Women employees) LTM attrition Value (In mn) - £ Average rate/ Rs. Value (In mn) - $ Average rate/ Rs. 28.5% 27.6% 26.0% 25.0% 28.0% I 19.6% I 98 82 I 72 T I 10.0 I 10.9 12.2 I I 108.1 106.8 103.6 12.9 13.1 6.7 79.4 78.6 76.6 Investor Presentation - 12 Q1FY23 © Copyright Mastek, 2022. All Rights Reserved#13Revenue Analysis Q1FY23 - Consolidated Balancing our portfolio Revenue by Market Region* Revenue by Contract Type 6.0% 4.9% 4.9% 8.5% 8.2% I 9.2% 42.4% 48.2% 54.5% 15.4% 18.4% 18.8% I I I I 70.1% I 68.5% I 67.1% I I I I I I | I I Q1FY22 Q4FY22 Q1FY23 ■ UK & Europe ■ US ■ME ROW * ROW includes India, Singapore, Malaysia and Australia 57.6% I 51.8% I 45.5% I Q1FY22 Q4FY22 Q1FY23 Time & Material ■Fixed Price I I I I Investor Presentation - 13 Q1FY23 © Copyright Mastek, 2022. All Rights Reserved#14Operational Performance Revenue By Industry Segments* Consolidated Q1FY23 Q1FY23 40.3% 19.4% 15.5% 13.6% 11.2% Government & Education Q4FY22 38.2% Health & Life Sciences 22.8% ** 14.5% 12.9% 11.6% Retail/ Consumer ■Manufacturing & Technology Q1FY22 36.4% 25.9% 14.7% 12.5% 10.5% Financial Services# Note: * Previous quarters have been restated as per latest terminology ** Pause in a key program in a large healthcare account #Financial Services includes consultancy/ professional services Investor Presentation - 14 Q1FY23 © Copyright Mastek, 2022. All Rights Reserved#15Note: Operational Performance Revenue By Practice Line* Q1FY23 Consolidated Q1FY23 42.8% 37.8% 10.8% 8.6% ■Digital & Application Engineering Q4FY22 40.8% 35.5% 11.2% 12.5% ■Oracle Cloud & Enterprise Apps Digital Commerce & Experience Q1FY22 50.5% 30.2% 12.2% 7.1% Data, Automation and Al *Previous quarters have been restated as per latest terminology Investor Presentation - Q1FY23 15 © Copyright Mastek, 2022. All Rights Reserved#1624 gon Mw2.200 Ap220 10036 6142 7297 8048 14127 3675 Date/Confermed May22025 SUPP Amount alue 32 22% 03 KEY WINS FOR THE QUARTER ANALYSIS 3 Australia 90% 75% © Copyright Mastek, 2022. All Rights Reserved AY I JUNI JULI AUG Investor Presentation - Q1FY23 16 RE YOUR TEXT HERE#17Key wins for the quarter Government & Education UK & Europe ROW Client Financial Services Europe One of the top University in UK providing research led education to ~46,000 students Mastek to help the University eliminate manual processes and disintegrated systems. The 'Digital Core' project to be implemented aims at unifying 41 disparate systems to bring better processes, information and control, thus enabling the University to deliver its People & Financial strategic plans efficiently. Mastek's proven and tested approach, were the key differentiators of value addition made which addressed the objectives of the Digital Core programme Regional council that provides services third largest city in Western Australia to About the deal Mastek will aid the customer in transforming the current ERP and manual HR system to Oracle SaaS. This implementation will enable customer to eradicate paper processing and fasten the customer & employee relationship by leveraging leveraging digital engagement with the citizens, thus providing enhanced service and a more modern experience Leading international home-credit and digital loans provider of consumer finance, has home credit operations in Poland, Czech Republic, Mexico, Hungary and Romania Mastek has signed multi-year service deal to provide managed services which includes application support on AWS Cloud and on-premises infrastructure. Mastek's assistance is pivotal to the client in ensuring business continuity and ability to touch the lives of its one million plus customers Investor Presentation - Q1FY23 17 © Copyright Mastek, 2022. All Rights Reserved#18Key wins for the quarter (Cont'd) Americas Technology-enabled healthcare service provider, who partners with government and private healthcare payers to maximize healthcare quality In the quest to decomplex client's business budgeting and forecasting requirements, of their health care. organisation, they have approached Mastek to implement Oracle planning, budgeting and cost. allocations. The implementation is expected to place Mastek in an ideal position to be able to replace client's current financial system and become the core supplier of services to support the client moving forward. Health and Lifesciences Americas Client A Global developer and manufacturer of chromatography columns, sample preparation and collection products, reference standards and instrument accessories About the deal in Mastek helps the customer transforming their online business by providing Digital Commerce services. With this solution customer will be able to focus on a buyer-centric commerce strategy, tackle complex challenges and take advantage of growth opportunities. ME A multi-specialty hospital located in Abu Dhabi, United Arab Emirates Post evaluation with stiff competition and proof of concept, client selected us. The parent group got introduced and added 8 more Hospitals which consist of 1000+ beds, 10000+ employees and 4 more HIS including Cerner, Yasashi, Concept & clinic in the scope. Scope of overall implementation includes Oracle Cloud ERP, HCM, SCM, EPM and IDCS Investor Presentation - Q1FY23 18 © Copyright Mastek, 2022. All Rights Reserved#19Key wins for the quarter (Cont'd) Europe Manufacturing & Technology One of world's leading provider of IP Video Management Systems with over 1,000 employees across development centers and has presence in more than 25 countries Client Europe Multinational lead-acid manufacturing company, manufacturing automotive and industrial batteries About the deal Mastek is has been chosen as their technology and transformation partners. We will implement the Oracle HCM Cloud solution to provide digitized processes, improved efficiency and innovation. The client is expected to achieve significant business benefits including reduced reporting times, faster deployments and updates, lower costs, and improved productivity. Mastek, an existing partner providing digital transformation and now has engaged into a multi-year Cloud Enhancement Services contract. The scope of this contract will include enhancement services for Oracle Cloud ERP, SCM, EPM & CX, which will help client reap maximum benefits from continuous innovation Investor Presentation - Q1FY23 19 © Copyright Mastek, 2022. All Rights Reserved#20Key wins for the quarter Americas Retail/ Consumer Client is a leader in the global lifestyle bag industry and is the world's best- known and largest travel luggage company Client Americas One of the fastest growing optical retailers in the United States About the deal Mastek already an Oracle HCM Cloud implementation partner, will now help the customer in rolling out the solution across the globe to achieve workforce visibility, flexibility, and intuitive experiences and improved workforce efficiency 'Oracle Mastek is supporting Commerce' system of the customer using Cloud Enhancement Services, to derive more value for the client. Our support services and advisory tools will help customer to measure and monitor the true business value & provide continuous improvement and agile service management Investor Presentation - Q1FY23 20 20 © Copyright Mastek, 2022. All Rights Reserved#2124 gon Mw2.200 Ap220 10036 Date/Confermed May22025 6142 7297 8048 14127 3675 04 ACQUISITION UPDATE ANALYSIS 3 Amount Value 6% 20% Australia 32 90% 75% © Copyright Mastek, 2022. All Rights Reserved AY I JUNI JULI AUG Earning Deck Q1FY23 RE YOUR TEXT HERE 21 SEP#22Mastek SIGNS DEFINITIVE AGREEMENT TO Acquire MST Solutions A Salesforce focused CONSULTING and SYSTEM Integration PARTNER Mastek Ltd through its subsidiary agreed to acquire Meta Soft Tech Solutions, LLC (MST Solutions). The deal has been structured in two stages: • . MetaSoft Tech Solutions, LLC is acquired by Mastek Inc, a wholly Owned First level Step down subsidiary of Mastek Limited. Meta Soft Tech Systems Pvt Limited is being acquired by Mastek Limited. More details on MST Solutions at https://www.mstsolutions.com Deal Consideration . Upfront consideration - $80 Mn • Earnout range- $0 - $35 Mn Earnout condition - Financial performance for the 12 months period ending Dec'2023. Investor Presentation - Q1FY23 22 22 © Copy#23Strategic Rationale Ability to address a large high growth net new market for Mastek Key Component of Mastek's vision 2025 Alignment to US Geo with Global potential • • Complementary Capabilities Strong cultural fit Large Target Addressable Salesforce services market Fills up a critical and strategic white space for Mastek Demand expected to grow to over 500k Salesforce consultants by 2026 from ~225k today 90% of Fortune 1000 customer use Salesforce Strong synergy potential in mutual account base MST is a summit-level Salesforce partner. Salesforces market continues to expand & is a strategic priority for Mastek in achieving $1 Bn revenue ambition in few years. • Bolsters Mastek tech stack with full suite Salesforce capabilities, critical for customer experience transformation programs MST is focused on US clients and increases Mastek footprint in Americas Mastek can leverage it's global presence for hyper-growth of Salesforce business • MST's CX capabilities on various Salesforce clouds are complementary to Mastek's existing Commerce, Oracle Cloud and Digital Engineering services Significant synergy opportunities within existing accounts • Ability to stitch together larger deals spanning entire IT landscape Strong leadership team with experience of growing the business Focus on delivering value to customers while enabling growth for employees aligns with Mastek 4.0 culture Investor Presentation - Q1FY23 23 23 © Copyright Mastek, 2022. All Rights Reserved#24MST at a Glance • Established in 2012 Headquartered in Arizona, US; Offshore Delivery in India Strong leadership team with an average tenure of 6+ years Ⓒ Salesforce focused 100% focused on the Salesforce ecosystem Strong MuleSoft & Vlocity credentials Customer profile • 8 Fortune 1000 clients • . ~320+ IT Employees Strong Financial profile Strong offshore delivery • Strong Revenue growth Strong presence in HLS pool and State & Local Govt. • 600+ Salesforce Certifications YOY High momentum in OB and Pipeline Service/Solutions offerings salesforce service cloud salesforce sales cloud Banner Health MuleSoft Vlocity salesforce experience cloud salesforce marketing cloud Marquee customer base MICROCHIP Telecare Corporation SKYTOUCH TECHNOLOGY nep NATIONAL EDUCATION PARTNERS SOLERA ROGERS CORPORATION University of Phoenix Investor Presentation - Q1FY23 24 14 © Copyright Mastek, 2022. All Rights Reserved#25Complete Salesforce Suite with Enterprise Integration Solution Architecture & Design Dedicated practice that can deliver full-scale blueprints with enterprise level complexity. Broad, multi- discipline expertise. Build & Implementation Scalable resource model. Data architects identify opportunities to create long-term integration plans. Professional project management able to work any methodology. Integration Integrating cloud data across legacy platforms. Managed Services Ongoing maintenance and support. Providing administration, product enhancements, change management, product support, and ongoing development teams محلاها Core Offerings Sales Cloud Service Cloud Experience Marketing Cloud Cloud Salesforce Platform ㅁㅁㅁ Sales Cloud Emerging Capability MuleSoft Integration Vlocity Architecture & Design Expertise enables MST to develop deeper relationships with clients and long-term partnership spanning implementation, integration and managed services lifecycle Investor Presentation - 25 Q1FY23 © Copyright Mastek, 2022. All Rights Reserved#26Mastek & MST Solutions Delivering value to customers... and to each other Mastek® . Global Digital Engineering & Cloud Transformation Services provider • Strong presence in US, UK, Europe, 40+ countries. 5000+ resources, Global Delivery Centers Strong partner ecosystem - Oracle, Microsoft, etc. + MST SOLUTIONS • Summit level Salesforce partner . . Expertise across Sales, Service, Experience, Marketing, Integration & Vlocity clouds 325+ specialists; 625+ Salesforce certifications Delivery centers in Arizona, Chennai & Trichy Enhanced value for Focus Industries • Healthcare & Lifesciences State & Local Govt Hi-Tech & Mfg. Drive business transformation Front to Back-office transformation Consulting to Cloud Enhancement (Managed) Services Shared Values Employee & Client Centricity Strong Cultural Alignment Partner for large enterprises Strategic partner to Enterprise customers 27 Fortune 1000 combined clients Global Footprint Strong Salesforce Services in US • Scale Salesforce in . Customer 360 Clouds • Synergies with our existing clients Partner in SF with Mastek's client base Cross-sell into MST Clients Investor Presentation - Q1FY23 26 26 © Copyright Mastek, 2022. All Rights Reserved#2724 90% 75% © Copyright Mastek, 2022. All Rights Reserved 05 25 gon Mw2.200 Date/Confermed Amount Value AY I JUNI JULI AUG Earning Deck Q1FY23 RE YOUR TEXT HERE VISION 2025 STRATEGY & STRATEGIC PRIOIRTIES Ap220 10036 6142 7297 8048 14127 3675 ANALYSIS 3 32 SEP 27#28Our Collective Vision and Goals for FY 25-26 Trusted and Turnkey Digital Engineering & Cloud Transformation Partner Mission We Enable Success for our Clients, Employees, & Societies we live in Approach Trusted Long-term Partnerships with Industry focused Value Based Delivery $1 Bn Top3 Best Be at $1Bn in the 2nd half of the decade Top 3 in Growth among mid-cap IT Services Benchmark for Best Places to Work & Customer Delight Decomplex Digital with Trust, Value & Velocity Investor Presentation - Q1FY23 28 © Copyright Mastek, 2022. All Rights Reserved#29Strategic Priorities for FY23 Massive Untapped Opportunity in Americas Healthcare and Life Sciences, Retail & Manufacturing Top 30 accounts mining and Top 30 Fortune 100 targets Continued Growth UK Public Sector + Oracle Cloud - Top 5 Home Office, HMRC, NHS, MOD, & DWP Financial Services, Retail in UK, Mfg in Europe Differentiated Talent and Delivery model Career Value to Attract/Retain Value Based Delivery to drive Business Outcomes Strategic Partners and Innovation Ecosystem Dominate in Oracle Cloud, Grow - Microsoft, Salesforce, Snowflakes, AWS, ServiceNow, & UIPath Innovation Labs One Mastek Brand ESG Commits Mastek Brand - Digital Engineering & Cloud Transformation Partner Commitment to Environment, Social and Governance Decomplex Digital with Trust, Value & Velocity Investor Day 29 29 © Copyright Mastek, 2022. All Rights Reserved#30f in Thank You Mastek Trust. Value. Velocity This presentation contains information that may be privileged or confidential and is the property of Mastek. Copyright © 2022 Mastek. All rights reserved. Note: Except for the historical information and discussion contained herein, statements included in this release may constitute forward looking statements. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from those that be projected by these forward looking statements. These risks and uncertainties include, but not limited to such factors as competition, growth, pricing environment, recruitment and retention, technology, wage inflation, law and regulatory policies etc. Such risks and uncertainties are detailed in the Annual Report of the company which is available on the website www.mastek.com. Mastek Ltd. undertakes no obligation to update forward looking statements to reflect events or circumstances after the date thereof.