#1Mastek Trust. Value. Velocity INVESTOR PRESENTATION Q1FY24 19 July 2023 Presented by: Hiral Chandrana | Chief Executive Officer, Mastek Arun Agarwal | Chief Financial Officer, Mastek#2Table of Contents 01 02 Highlights of the Quarter Financial & Operational Performance Investor Presentation | Earning Deck 03 04 05 Key Wins for the Quarter Acquisition Update Strategic Priorities Company Confidential Mastek 2023. All rights reserved | 2#3HIGHLIGHTS OF THE QUARTER Mastek Trust. Value. Velocity#4HIGHLIGHTS OF Q1FY24 Revenue Growth Year-on-Year 27.2% Operating EBITDA 17.5% Margin Q1FY24 revenue at 725.3 Crore KOO Q1FY24 Op. EBITDA 127.0 Crore Revenue grew by 2.3% QoQ Op. EBITDA grew by 16.3% YoY 20.2% YoY (CC*) 12month Order backlog 16.9% Year-on-Year Growth 12 Months Order backlog at 1,763.9 Crore 12 months order backlog grew by 9.7% YoY (CC*) Mastek signs definitive agreement to acquire BizAnalytica, LLC - a data cloud & modernization specialist Investor Presentation | Earning Deck *CC: Constant Currency Company Confidential Mastek 2023. All rights reserved | 4#5KEY ACHIEVEMENTS & RECOGNITIONS Featured as Aspirant in Everest Group's PEAK MatrixⓇ Assessment Featured in IDC MarketScape, Asia Pacific Oracle Application Implementation Services 2023 Named in ISG Top 15 Sourcing Standout Globally under 'Booming 15' category Recognized as a "Challenger" in Avasant's Radarview Salesforce Services 2023 Everest Group PEAK MATRIXⓇ IDC THE * ISG 15 AVASANT RADARVIEW" CHALLENGER S Salesforce Services 2023 Mastek was featured as Aspirant in Healthcare Data and Analytics Services PEAK MatrixⓇ Assessment, as well as Microsoft Dynamics 365 Services PEAK MatrixⓇ Assessment 2023 Mastek was featured as a 'Major Player' in IDC MarketScape on Asia Pacific Oracle Application Implementation Services 2023 Mastek named in ISG Top 15 Sourcing Standout Globally under 'Booming 15' category based on annual contract value (ACV) won over the last 12 months, according to the 1Q 2023 Global ISG Index™ Mastek has been acknowledged as a "Challenger" in Avasant's Radarview Salesforce Services 2023, reflecting its competitive position in the Salesforce services industry and highlighting the commitment to deliver quality solutions Investor Presentation | Earning Deck Company Confidential Mastek 2023. All rights reserved | 5#6PROGRESS ON GENERATIVE AI * • • Mastek Approach & Dimensions CXPro Solution & Netail.ai Partnership for Retail & Consumer industries Edge Intelligence IoT enabled Connected Enterprise solution powered by Volteo Edge Partnerships with platform partners such as Salesforce, Oracle, Microsoft, ServiceNow Context industry specific use cases with Strategic Clients Data Cloud for large language models • and large data sets with BizAnalytica Strategic Win Mastek has won a strategic Generative Al program with an industrial manufacturing company in the US that will dramatically reduce time to query replacement & obsolete parts providing significant savings to the client and reduction of manual work/errors Experience Centre Mastek announced opening of the innovative & state-of-the-art "Experience Center" at Mastek Millennium Centre in Navi Mumbai, demonstrating technologies such as Fall Detection, Intelligent Video Analytics (IVA), Augmented Reality etc. for use cases across various industries Investor Presentation | Earning Deck Mastek signs definitive agreement to acquire BizAnalytica, LLC - a data cloud & modernization specialist Company Confidential Mastek 2023. All rights reserved | 6#7FINANCIAL & OPERATIONAL PERFORMANCE Mastek Trust. Value. Velocity#8FINANCIAL PERFORMANCE 17.3% 17.6% 23.5% 21.9% 21.8% 21.1% 21.1% 21.1% 20.8% 19.2% 17.7% 17.2% 17.3% 17.5% 13.3% 13.8% 11.8% 15.6% 15.4% 15.1% 15.0% 14.7% 15.7% 14.2% 13.6% 14.3% 11.6% 11.0% 9.6% 9.7% 10.3% 10.1% 10.2% 10.1% 248 244 244 337 386 410 443 483 517 534 552 582 570 625 659 709 725 Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Investor Presentation | Earning Deck Revenue from Operations (* Crore) Operating EBITDA Margin PAT Margin Company Confidential Mastek 2023. All rights reserved | 8#9570.3 Q1FY23 2.3% QoQ 0.4% QoQ (CC) 27.2% YoY 20.2% YoY (CC) Investor Presentation | Earning Deck 709.2 Q4FY23 CONSOLIDATED FINANCIAL HIGHLIGHTS Q1FY24 Comparison: Quarter-on-quarter & Year-on-year (Figures In Crore) Operating Revenue Operating EBITDA & Margin (%) PAT & Margin (%) 725.3 1.2% QoQ 16.3% YoY 109.2 14.2% 19.2% 17.7% 17.5% 10.2% 10.1% 125.5 127.0 Q1FY24 Q1FY23 Q4FY23 Q1FY24 Q1FY23 Q4FY23 Q1FY24 1.3% QoQ 12.8% YoY 84.4 72.6 73.5 1,509.3 1,794.1 Q1FY23 Q4FY23 Q1FY24 2.6% QoQ (CC) 9.7% YoY (CC) Company Confidential Mastek 2023. All rights reserved | 9 1,763.9 12 Months Order Backlog#10CONSOLIDATED FINANCIAL SUMMARY - Q1FY24 Key Performance Metrics Q1FY24 Q4FY23 Q1FY23 QoQ Growth YOY Growth Revenue from Operations ($mn) $88.1 $86.3 $73.6 0.4% (CC) 20.2% (CC) Revenue from Operations (Crore) 725.3 709.2 570.3 2.3% 27.2% Revenue Other Income (* Crore) 2.4 (0.4) 25.8 675.6% (90.8%) Total Income (* Crore) 727.6 708.8 596.0 2.7% 22.1% Op. EBITDA 127.0 125.5 109.2 1.2% 16.3% Margins (* Crore) PBT PAT Op. EBITDA Margin (%) PBT PAT Basic EPS (*) Diluted 100.3 96.3 121.9 4.2% (17.7)% 73.5 72.6 84.4 1.3% (12.8)% 17.5% 17.7% 19.2% (19)bps (164)bps 13.8% 13.6% 20.5% 21bps (667)bps 10.1% 10.2% 14.2% (14)bps (405)bps 23.0 23.9 25.7 22.7 23.5 25.1 Note: PAT includes impact of 1.1% due to Purchase Price Allocation (PPA) amortization *CC: Constant Currency Investor Presentation | Earning Deck Company Confidential Mastek 2023. All rights reserved | 10#11794.0 270.0 220.2 # Return on Equity = PAT/Average Networth; Return on Capital Employed = EBIT/Average Capital Employed Investor Presentation | Earning Deck Cash & Cash Equivalent 29.5% BALANCE SHEET METRICS Q1FY24 - CONSOLIDATED Figures In Crore 20.7% FY22 FY23 Q1FY24 FY22 FY23 Q1FY24 FY22 FY23 Q1FY24 16.2% Return on Equity# Return on Capital Employed# 33.6% Company Confidential Mastek 2023. All rights reserved | 11 24.0% 20.1%#12OPERATING METRICS Q1FY24 Strengthening our business Q1FY24 Q4FY23 Q1FY23 New Clients Added 22 28 33 Active Client during the Quarter 436 464 402 Client Base Top 5 30.8% 29.6% 28.7% Top 10 41.0% 40.6% 41.1% No. of Clients with Annual Billing > USD 1mn 60 61 51 Total Employee 5,592 5,622 5,553 Offshore 4,006 4,036 4,208 Employee Base Onsite 1,586 1,586 1,345 Diversity (Women employees) 28.9% 29.5% 28.5% LTM attrition 20.4% 21.0% 25.0% DSO FX Hedges for next 12 months Days Value (In mn) - £ Average rate/ Value (In mn) - $ Average rate/ 101 93 98 18.7 14.3 10.0 108.1 108.2 108.1 10.2 10.5 12.9 82.4 81.9 79.4 Investor Presentation | Earning Deck Company Confidential Mastek 2023. All rights reserved | 12#13REVENUE ANALYSIS Q1FY24 - CONSOLIDATED Balancing Our Portfolio Revenue by Market Region* Revenue by Contract Type 4.9% 4.3% 4.1% 9.2% 9.3% 12.1% 18.8% 44.1% 44.9% 26.0% 25.3% 54.5% 67.1% 60.4% 58.5% 45.5% 55.9% 55.1% Q1FY23 Q4FY23 Q1FY24 Q1FY23 UK & Europe US ME ROW Q4FY23 Time & Material Q1FY24 Fixed Price * ROW includes India, Singapore, Malaysia and Australia Investor Presentation | Earning Deck Company Confidential Mastek 2023. All rights reserved | 13#14OPERATIONAL PERFORMANCE Revenue By Industry Segments Q1FY24 Consolidated Government & Education Health & Life Sciences Retail/Consumer ■Manufacturing & Technology Financial Services # Q1FY24 44.6% 14.6% 12.4% 17.0% 11.4% Q4FY23 43.0% 16.0% 13.1% 15.5% 12.4% Q1FY23 Note: # Financial Services includes consultancy/ professional services Investor Presentation | Earning Deck 40.3% 19.4% 15.5% 13.6% 11.2% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Company Confidential Mastek 2023. All rights reserved | 14#15OPERATIONAL PERFORMANCE Revenue By Service Line Q1FY24 Consolidated ■Digital & Application Engineering Q1FY24 44.8% 32.2% 18.3% 4.7% ■Oracle Cloud & Enterprise Apps Q4FY23 44.7% 28.9% 19.5% 6.9% ■Digital Commerce & Experience Data, Automation and Al Investor Presentation | Earning Deck Q1FY23 42.8% 37.8% 10.8% 8.6% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Company Confidential Mastek 2023. All rights reserved | 15#16KEY WINS FOR THE QUARTER Mastek Trust. Value. Velocity#17KEY WINS FOR THE QUARTER UK & Europe Central government department with a mission to protect the country. Mastek has been chosen to be the delivery partner for two separate deals: Digital Identity programme - deliver seamless SSO and login process to users, for onboarding relying parties and enhancing features offered Application Support Service as a Service (ASSaaS) - deliver specialist technical support to all hosted applications, thus enabling emergency production support Government & Education UK & Europe A modern University created in 2002 situated in North London, with over 10,000 students and 2,000+ staff. Client UK & Europe One of the largest local councils for Southeast England. They employ over 7,500 people. The council's functions include social care, transport, education, social housing, ensuring environmental health and safety. About the deal Through this Oracle + Digital win, Mastek will deliver Oracle Cloud back- office transformation, Designing and building integrations on Microsoft Azure platform, migrating LMU from SAP ECC6 and E5 to Oracle Cloud, along with 1.5 years of Cloud Enhancement Services. The university will achieve wider digital benefits including a move to greater process automation outside of the Backoffice. The customer's continued trust in Mastek providing Cloud enhanced Services leading to partner with us for a longer term for managing Oracle Fusion Cloud applications and enable the client to support internal customers, improve delivery of services to local residents, unify data across departments, and strengthen business operations. Americas A public University in USA established in 1940s having presence across 175 locations, and offering over 125 programs to more than 30,000 students. Mastek will modernize and upgrade the customer's decade old Salesforce platform built on legacy Salesforce technology to meet the current business goals of the organization.#18KEY WINS FOR THE QUARTER Americas The Company offers individual, family, group, Medicare, and Medicaid health insurance and related services to nearly 2 million customers in the region. Mastek is actively involved in overall digital transformation for the customer through following engagement which will eventually impact the organizations tech stack • • • Medicare Advantage Migration to Salesforce - large project with full ownership of Salesforce, integration and technical debt tracks Portal improvements that will result in Member Portal Stabilization, Broker Portal Enhancements and website upgrade Large project with Data Engineering Team for proposing future state architecture on Mulesoft Healthcare Americas Client The Company owns and operates retirement homes across the United States offering variety of services including assisted living, independent living, memory care, retirement communities and at home care. About the deal Mastek is sub-contracting Oracle for implementation services and offering bulk services. The customer used outdated systems that impacted business growth and goals. The Mastek-OCS partnership will put together a compelling implementation response for meeting customer requirements, economic opportunities, and meeting business goals. 60 AMEA The Company owns multiple clinics across KSA with 500+ employees. Mastek will implement Oracle Fusion HCM to cater large volume of employees and HCM, as the customer is exponentially growing its business across multiple cities. Mastek will automize the HR processes including self-services, annual appraisals, seamless recruitment & onboarding, time management, and Payroll processing etc.#19KEY WINS FOR THE QUARTER UK & Europe Manufacturing, Retail, and Hi-Tech Americas Americas Client Americas Finnish consumer packaging company whose production includes food packaging, disposable containers, egg cartons for quick service restaurants, retail stores, and vending operators. An innovative beauty brand offering nail polish, lipstick and other beauty products. Leading American company that manufactures licensed and limited pop culture collectibles, accessories & toys A US-based cybersecurity organization engaged in development and sale of security solutions such as firewalls, endpoint security and intrusion detection systems. Mastek was chosen to be partner for Global Cloud Enhancement Services for Oracle ERP Cloud through a multi-year contract. This win can also be used as a framework for Salesforce and Microsoft support where the contract consolidates Managed Services for the customer's Strategic Solutions and Technologies with Mastek. This support will enable the customer to scale up their services. About the deal Customer selected Mastek as its Oracle Commerce Cloud implementation partner to save time and reuse resources with a unified e-commerce platform. Through this implementation, the customer will offer personalized Mastek as a Strategic Technology Partner signed a 3 year Datawarehousing and Analytics Managed services deal to provide 24x7 support and implement scalable, sharable and accessible Data & Analytics Platform to modernize product recommendations, expose their analytics & data tech space and enable catalogue to the right customers, drive higher order values, and reduce the total cost of ownership, hence leveraging benefits of combined B2B & B2C solutions. actionable insights for various business functions, right from buyers group to merchandisers to supply chain and distribution centre. Mastek will implement Oracle HCM Cloud modules, which will help the customer achieve a global solution delivering better operational efficiency, increased productivity, and global excellence across all people processes. HR processes and dashboards can be configured based on the employee's role in the organization, encouraging strong adoption among all users.#20ACQUISITION UPDATE Mastek Trust. Value. Velocity#21MASTEK SIGNS DEFINITIVE AGREEMENT WITH BIZANALYTICA Investor Presentation | Earning Deck Mastek signs definitive agreement to acquire BizAnalytica, LLC - a data cloud & modernization specialist Mastek Trust. Value. Velocity bizanalytica BizAnalytica, LLC to be acquired by Mastek Inc., a wholly owned subsidiary of Mastek Limited Company Confidential Mastek 2023. All rights reserved | 21#22· BIZANALYTICA AT A GLANCE Established in 2017 Headquartered in Boston, US Offshore delivery centre in Chennai Lightbeam IP for Data Managed Services • . Data focused End-to-end Data Cloud and Modernization services provider from Strategy to Implementation & Managed Services Snowflake Premier Partner Customer profile Enterprise clients in Financial Services, Healthcare & Lifesciences, Retail and Tech industry 120+ Employees Strong pool of Data Architects and engineers. • ~60:40 onshore-offshore split N Strong Growth profile Revenue CAGR (CY20 - CY22) -30% BizAnalytica Strengths Capabilities across multiple leading Data Cloud Platforms like Snowflake, Databricks, AWS Investor Presentation | Earning Deck Strong Solutioning Approach with senior Solution Architects and technical leadership team Track record of O delivering critical projects for Fortune 1000 clients SSgA. Enterprise customers Fidelity Staples Alegeus INVESTMENTS STATE STREET GLOBAL ADVISORS MathWorks® THE DEPOT HOME snowflake new balance Optum IQVIA Putnam Key Technology Partners Azure databricks aws partner network Advanced Consulting Partner Company Confidential Mastek 2023. All rights reserved | 22#23ENTERPRISE DATA MODERNIZATION AND TRANSFORMATION SERVICES Discovery Si Strategy Design & Development Proof of Concept ✓ Production Data Cloud and Modernization Strategy Define business goals for digital transformation and map that to a data strategy, architecture and roadmap. Data Management & Warehousing Design and architect the solution, migrate data to the cloud and establish a world- class data lakehouse Data Science & Analytics Build powerful business intelligence with world class tools and a team of analytics specialists Support and Managed Services Manage and maintain new data infrastructure, offering continuous improvements and emergency support services. snowflake Investor Presentation | Earning Deck databricks aws partner Advanced network Consulting Partner ▲ Azure dbt A MATILLION J Fivetran Looker +ableau Company Confidential Mastek 2023. All rights reserved | 23#24STRATEGIC RATIONALE loloo AI Large, High Growth Market Key Component of Mastek's vision 2025 Customers looking to harness data for better decision-making, requiring modern Cloud data warehouses and processing solutions for handling large, flexible workloads Generative Al use cases to drive significant demand for Enterprise Data • Data Modernization and Data Cloud Platform capabilities are critical for becoming an E2E Digital Transformation Service Provider with Al capabilities • Ability to stitch larger, multi-tower Cloud managed services value propositions Alignment to US Geo with Global potential Capabilities on Growth Platforms Synergy Potential Provides strong presence in North-east of US to establish East Coast presence and tap into the regional client base including Financial Services sector - One of the largest IT spend vertical • Mastek can leverage it's global presence for hyper-growth of Data Cloud and Modernization business . Addition of diverse capabilities on high growth platforms - Snowflake, Databricks, AWS Strategy driven engagements and full-stack data consultancy enable collaborative client relationships in their Data Transformation journey • Significant presence of platforms such as Snowflake and Databricks in Mastek's existing accounts • • Impressive client list with some of the biggest names in Financial Services, Healthcare, Tech and Retail Investor Presentation | Earning Deck Company Confidential Mastek 2023. All rights reserved | 24#25STRONG SYNERGY POTENTIAL Strong Data Cloud Capabilities on leading platforms like Snowflake, Databricks and AWS Strengthens Vertical capabilities in Retail & HLS, while adding capabilities in Asset Management, Hi-Tech Potential to position Mastek services into Fortune 1000 and Enterprise client base of BizAnalytica Developing custom Data- centric solutions complementary to platforms such as Salesforce, Oracle and Microsoft Provide next generation Analytics Services around Generative Al to our Enterprise Clients Investor Presentation | Earning Deck Company Confidential Mastek 2023. All rights reserved | 25#26MASTEK & BIZANALYTICA BUILDING AI-DRIVEN ENTERPRISES • • Global Digital Engineering & Cloud Transformation Services provider Strong presence in US, UK, Europe, 40+ countries 5600+ resources, Delivery Centers Global Strong partner ecosystem - Salesforce, Oracle, Microsoft Data-driven Transformation • Data-driven Strategy and Roadmap is key to customers for enhancing business models Significantly strengthens our capabilities on the Modern Data stack Investor Presentation | Earning Deck Mastek Trust. Value. Velocity bizanalytica Customer Base • Joint focus verticals - Retail, Hi-Tech, HLS • Additional verticals - FS (AMCs) • • Extensive Data Services expertise with depth across Data Cloud Platforms - Snowflake, AWS, Databricks • Premier level Snowflake partner • Technology Partnerships Mastek becomes a Premier level Snowflake partner Strengthens our Alliance ecosystem in data space with Databricks, dbt E2E Digital Transformation End-to-End Digital Transformation partner with addition of Data Cloud capabilities to existing ADM, ERP, CRM and CX expertise Company Confidential Mastek 2023. All rights reserved | 26#27STRATEGIC PRIOIRTIES Mastek Trust. Value. Velocity#28MASTEK STRATEGIC PRIORITIES Turnkey Digital Engineering & Cloud Transformation Partner Massive Untapped Opportunity in Americas • Healthcare and Life Sciences, Retail & Manufacturing, State & Local Govt. . Top 15 accounts mining and Fortune 1000 targets • • Continued Growth in UK Public Sector EU, ME expansion Home Office, HMRC, NHS, City Councils, UK Govt frameworks Financial Services, Retail in UK, Mfg. in Europe, Digital Cross-sell in ME • • Differentiated Talent and Delivery model Career Value to Attract/Retain Top Talent Value Based Delivery to drive Business Outcomes • • Digital & Cloud Services Strategic Partners Dominate in Oracle Cloud Globally - Grow Salesforce, Snowflake, Azure, ServiceNow, AWS • Cloud Enhancement Services (CES) Mastek Brand, M&A Innovation & ESG • Innovation Labs as a Service, Non-linear Platforms • M&A and Ventures Environment, Social & Governance (ESG) Investor Presentation | Earning Deck Decomplex Digital with Trust, Value & Velocity Company Confidential Mastek 2023. All rights reserved | 28#29STRATEGIC BIG BETS FY24 Investor Presentation | Earning Deck Account Mining (Top 40 a/c globally) Oracle & Salesforce Channel Mgd Services Cost take out larger deals Mastek Brand & Culture Healthcare in US/ME with Oracle/Cerner & Salesforce Service Line Differentiation (Snowflake & AWS Cloud) UK Secure Govt. Growth Stage for Oracle Penetration Company Confidential Mastek 2023. All rights reserved | 29#30NON-LINEAR IMPACT - PLATFORMS AND IP EWS - aaS • Launch multi-tenanted version • WH360 - aaS • Launch multi-tenanted version . Restructure the model for support- implementation . Restructure the model for support- implementation Replicate the UK & AMEA • Scale at US, UK and • AMEA with existing cases cases at US and EU with apt mining Connected Enterprise Service (with Volteo Edge) Healthcare and Life Sciences, Retail & Manufacturing Special focus on US and AMEA Top 20 accounts mining and Fortune 1000 targets Deals Secured • To scale transformative WH360-aaS wins for Manufacturing Customers; • Intellectual Property Governance Manage Filing and Granting of IPs (Patents, Trademarks) • Co-Create IPs with Customers • Fraud Analytics Financial Services, Retail in UK, Mfg. in Europe, State and Local Government of UK Establish outcome driven pricing model - Multi-year subscription program for 400+ users. As part of ERP transformation, Customer was looking to transform their home-grown mobile inventory system - Multi-year subscription program for 50+ users. OCI hosted services required for inbound/outbound transactions on handheld device & mobile app • To support, implement and scale transformative EWS-aaS for Manufacturing Customer; - Multi-year subscription program for unlimited users. As part of the ERP transformation, Customer to regulate time and workforce tracking & advanced rostering. Investor Presentation | Earning Deck Company Confidential Mastek 2023. All rights reserved | 30#31f 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.