Slide 1: The Turnaround You Didn't See Coming
30+ Years of Domain Expertise 150+ The Turnaround Installations in 100+ Countries You Didn't See Coming AI is rewriting the economics and we have the proof 95% Customer Retention 11 June 2026 ~70% Recurring Revenue
Slide 2: Forward looking statement
Forward looking statement Certain statements in this presentation concerning our future growth prospects are forward looking statements, which involve several risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. the risks and un
Slide 3: A 3–5 Year Window is Open
A 3–5 Year Window is Open Telco industry is getting reshaped Unlock Incremental Telco Is the Last New Spend AI Frontier $1.7 Trillion Industry 1.3T AI Sessions per year (53.5% on mobile) – Nokia $30-40B New Spending every year 27B tokens per day - AT&T 6G is AI & Agent Native - Qualcomm In the next
Slide 4: What Problem do we solve?
What Problem do we solve? Empowering every digital journey to be fearless, seamless and fraud-free Telcos leak 2.46% of revenues to fraud Subex protects telco revenues through ~$42 B Business Assurance, Fraud management, and Partner Ecosystem Management. Telco Revenue losses growing at almost 6x the
Slide 5: Deep Install Base and High Switching Costs
Deep Install Base and High Switching Costs EMEA 30+ FY26 ₹279 Crs. EBITDA 10.3% PAT 10.2% 150+ Installations across 100+ countries ~60% of customers are >= 8 years Asia Recognized Vendor In first ever MQ for AI in CSPs Contributor to Standards/ Frameworks for Assurance and Fraud Americas 700+ Employ
Slide 6: A Telecom AI Company – We Build Products
A Telecom AI Company – We Build Products BUSINESS ASSURANCE (BA) FRAUD MANAGEMENT (FM) • Revenue Assurance (RA) • Comprehensive telco • Margin Assurance frauds detection, • Migration Assurance, etc. prevention and case management AI AT THE CORE • Embedded AI in Subex platforms & products • AI Use Ca
Slide 7: Strong Foundation for Sustained Growth
Strong Foundation for Sustained Growth (Since FY2023) Right Business Strong Business Portfolio Fundamentals • Back to profitability (FY23 to FY26) • EBITDA (3.9)% to 10.3% • Exited non-core business • PAT (18.4)% to 10.2% • Reinvest in core telco • ~44% increase in Cash and business where we have a
Slide 8: Proof Point: GenAI Bending Project Economics
Proof Point: GenAI Bending Project Economics Device Idea to Product Proof Product to Sales Sales to Delivery Delivery to Services Fraud Points • GenAI SDLC • FraudzapTM • Configurable • AI Agent • #1 Fraud dramatically sold in 6 in weeks vs managed vs • Deployment/ type in 2025 reducing months month
Slide 9: $4.3B TAM - Most of it Didn't Exist 3 Years Ago
$4.3B TAM - Most of it Didn't Exist 3 Years Ago Telco Adjacencies $1.53B Telco Fintech - Mobile Money Fraud • MVNO Fraud Controls • IoT Assurance • Revenue Assurance New-Age Leakage Vectors $1.70B $1.53B Telco Subscription Fraud • Device & Equipment Theft • Account Takeover Adjacencies • Social Engi
Slide 10: Our Right to Create Long Term Value
Our Right to Create Long Term Value 500B+ 30+ Yrs 95% Records/day processed Domain expertise Customer retention Live telco data across 100+ Fraud patterns, assurance models High switching cost and networks and telco logic deep integration Revenue Margin Expansion 1. Existing market 1. Gross Margin U
Slide 11: Six Reasons to Invest in Subex
Six Reasons to Invest in Subex 1. Proven Flywheel, Not a Promise 2. Annuity Revenue with AI Upside Device fraud demonstrates the new model works: AI- ~70% of revenue is recurring. 95% customer retention. native products, faster build, faster deploy, higher AI upsell is incremental, it's the growth l
Slide 12: Thank You
New Possibilities. Now Possible. Thank You