Slide 1: Exchange filing cover letter
July 23, 2026 The Manager The Manager BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai - 400 001 Bandra (E), Mumbai - 400 051 Subject: Presentation to be made to the Analysts and / or Institutional Investors Sc
Slide 2: The World's Leading Managed Learning Services Company
The World’s Leading Managed Learning Services Company Transform Your Learning. Turbocharge Your Business. Q1FY27 Financial Results July 2026 1
Slide 3: Environment
Environment Gartner (May 2026): AI spend up to $2.59T (+47% IMF July 2026 WEO: Global growth holds at 3.0% for YoY); total IT $6.31T. 2026 marks the enterprise AI 2026, rebounding to 3.4% in 2027. Disinflation has inflection, with spend shifting to enterprise-wide stalled. Inflation revised up to 4.
Slide 4: Q1 FY27: Highlights
Q1 FY27: Highlights Revenue: +25% EBITDA: +9% PAT: +16% Other highlights: 5,651 574 4,514 1,032 493 • AI-enabled offerings now contribute 951 ~13% of revenue • Added 3 new Annuity clients in Q1, renewed 3 contracts and expanded scope with 1 client • 113 Annuity clients; Revenue Visibility Q1FY26 Q1F
Slide 5: Q1 FY27: Revenue Mix: By Sector
Q1 FY27: Revenue Mix: By Sector Technology & Telecom Industrials Life Sciences & Healthcare BFSI Management Consulting & Professional Services Others 4
Slide 6: Q1 FY27: Customer Metrics
Q1 FY27: Customer Metrics Annuity Clients Revenue Visibility 3 New Annuity Clients 113 462 95 388 3 Contract Renewals 1 Scope Expansion USD million Q1FY26 Q1FY27 Q1FY26 Q1FY27 Customer Concentration Clients By Revenue Contribution* Top 5 36% 35% 4 > USD 10 million Top 10 54% 50% 10 > USD 5 million T
Slide 7: Customers use our AI to move their business
Customers use our AI to move their business 40K+ users on our AI roleplays, simulators and coaching — turning capability into revenue, velocity and productivity. Global IT Global Life Insurance Leading Education Infrastructure Leader · Leader Nonprofit $16B AI coaching, real-time support & AI consul
Slide 8: And our AI does more of the customer's work
And our AI does more of the customer's work Our AI-powered delivery takes on more of the customer's work — across content, administration and delivery Content Development Admin & Operations Delivery & Support AI-powered authoring — we take on more AI copilot runs intake, administration and AI keeps
Slide 9: And it earns enterprise trust
And it earns enterprise trust Fosway's 2026 assessment puts it plainly: AI roadmaps are everywhere, but live, in-production capability is rare — and we hold the largest set of live AI features in the study. Governed & Certified Secure by Design Recognized Leader AI management, certified to an Built
Slide 10: People
People 2,546 2,471 2,496 2,433 2,390 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Headcount down 50 QoQ and up 106 YoY 9 * excludes project retainers
Slide 11: Shareholding Pattern
Shareholding Pattern 26.0% 24.6% 24.4% 24.7% 25.9% 22.2% 23.7% 24.3% 24.5% 25.4% 17.5% 17.4% 17.1% 16.8% * 14.4% 34.4% 34.2% 34.2% 34.1% 34.3% Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Promoters FPIs DIIs Individuals and Corporates 10 *Includes impact of exercise of ESOPs on holding percentages
Slide 12: Q1 FY27: Financials
Q1 FY27: Financials INR Mn Q1 FY27 Q4 FY26 QoQ Q1 FY26 YoY Net Revenue 5,651 5,252 8% 4,514 25% Operating expenses 4,619 4,251 9% 3,562 30% EBITDA 1,032 1,002 3% 951 9% EBITDA% 18% 19% (81) bps 21% (281) bps Depreciation & Amortisation 215 205 5% 181 19% Net Other Income/ (Expense) (37) 144 (181) mn
Slide 13: Company Overview
Company Overview 12
Slide 14: What We Do?
What We Do? Managed Training Services - Trusted by the Content & Curriculum World’s Best Companies The company’s specialized learning solutions Consulting Learning include AI-Powered L&D Transformation, Immersive & Advisory Administration Learning, Customer Education Services, HCM MANAGED * Technolo
Slide 15: NLSL At A Glance
NLSL At A Glance 40+ Years of pure play 32 Global presence in 3 Top 3 Global Learning 2.5K World-class learning learning experience 32 countries Outsourcing Company professionals 100+ 500+ 40M 21K * Global Industry Awards for Learners touched Hours of custom content Customers Innovation & Impact glo
Slide 16: We Have Spread Our Wings
We Have Spread Our Wings VANCOUVER DUBLIN TOULOUSE BERGEN SHANGHAI ROCHESTER MUNICH DEBRECEN DALLAS LEIPZIG LONDON COSTA RICA * GURUGRAM ATLANTA MALAGA SHEFFIELD MUMBAI 32 COUNTRIES | 40 MILLION LEARNERS | 100+ ANNUITY CLIENTS 15
Slide 17: …to transform learning across a wide range of industries.
…to transform learning across a wide range of industries. TECHNOLOGY & GLOBAL CONSULTING AND LIFE SCIENCES AND ENERGY AND TELECOM PROFESSIONAL SERVICES HEALTHCARE COMMODITIES AEROSPACE BANKING AND FINANCIAL MANUFACTURING CONSUMER PRODUCTS AND AVIATION SERVICES AND INDUSTRIAL AND RETAIL HUMANITARIAN
Slide 18: Don't take our word for it. Here's what our customers say…
Don’t take our word for it. Here’s what our customers say… NET VALUE- Responsive and CUSTOMER PROMOTER ADD Dependable SATISFACTION Customer SCORE SCORE and Reliable Focused -10 10 0 5 0 5 Deep Customer Desire to Exceed 9.65 4.73 4.47 Service Ethos Expectations NIIT VOICE OF CUSTOMER SURVEY Receptive
Slide 19: And Recognized by Industry Experts
•…Don’t And Recognized by for take our word Industry Experts it. Here’s what our customers say… 480 BRANDON 25 CLO 10 LEARNING 2 ATD ACCREDITED GOLD NUMBER ONE IN HALL HCM AND LEARNING IN TECHNOLOGIES EXCELLENCE IN STANDARD BY LPI, INNOVATION AND TECH AWARDS PRACTICE AWARDS PRACTICE 2 LPI AWARDS SIZ
Slide 20: Consistent Growth Track Record
Consistent Growth Track Record 5 Year EBITDA 19% +20% +30% ROCE CAGR Margin # of Annuity Clients 110 Revenue in Rs. Million 19,520 93 87 16,533 15,535 80 13,618 11,323 66 58 8,254 FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25 FY26 REVENUE VISIBILITY* STRONG CUSTOMER ADDS CAPITAL EFFICIENCY
Slide 21: Large Market Opportunity
Large Market Opportunity $370.3Bn Others 14% Global Corporate Training Training Learning Annual Spend Tuition, $ BLUE OCEAN Tech. Delivery 44.4 Bn 31% Internal, $ Mgmt. RED OCEAN LEARNING 226.5 Bn 10% SERVICES Courses, $ 78.5 Bn Training Admin. Content Dev. Learning Tech., 15% 30% $ 5.0 Bn Learning
Slide 22: Strong Right To Win
Strong Right To Win PROPRIETARY LEARNING END-END SERVICES METHODOLOGIES WITH DELIVERY CAPABILITY GLOBAL REACH PROVEN OUTCOMES CUSTOMER CENTRICITY POLE POSITION IN AI IN STRONG BALANCE SHEET RESULTING IN 100% LEARNING WITH MANDATE TO INVEST RENEWALS IN GROWTH 21
Slide 23: …And Investing In Growth
…And Investing In Growth INVESTMENTS IN S&M NEW MARKET INORGANIC AND NEW CAPABILITIES SEGMENTS AND EXPANSION GEOGRAPHIES 22
Slide 24: Office locations
ATLANTA | BERGEN | DEBRECEN | DUBLIN | GURUGRAM | LEIPZIG | LONDON | MUNICH | ROCHESTER | SAN JOSE | SHANGHAI | SHEFFIELD | TOULOUSE | VANCOUVER 23