Slide 1: Outcome of Investor Sessions – Exchange Letter
NSE & BSE / 2026-27 / 140 September 28, 2026 The Manager, The Manager, Corporate Services, Corporate Services, National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra Kurla Complex, Bandra (E), P J Towers, Dalal Street, Mumbai 400 051 Mumbai 400 001 Ref: Symbol: PERSISTENT Ref: S
Slide 2: Investor Presentation September 2026
Investor Presentation September 2026 © 2026 Persistent Systems
Slide 3: Forward-looking and Cautionary Statements
Forward-looking and Cautionary Statements IMPORTANT: You must read the following before continuing. The following applies to this document, the oral presentation of the information in this document by Persistent Systems Limited (the “Company”) or any person on behalf of the Company, and any question
Slide 4: Your speakers today
Your speakers today Sandeep Kalra Vinit Teredesai Saurabh Dwivedi Rahul Ravi Executive Director & Chief Executive Director & Chief Corporate Vice President, Deputy General Manager, Executive Officer Financial Officer Finance & Strategy Corporate Development 3
Slide 5: We are Persistent
We are Persistent AI-led, Platform-driven Digital Engineering & Enterprise Modernization partner $452.4M 16.0% 11.2% FY27 Q1 Revenue1 FY27 Q1 EBIT Margin2 FY27 Q1 PAT Margin +16.1% YoY +32.7% YoY +13.7% YoY $1,717.1M 28,640 $9.3B TTM Revenue1,3 Employees Market Capitalization4 (as of June 30, 2026)
Slide 6: Our journey over 36+ years has been shaped with Cloud, Data and AI
Our journey over 36+ years has been shaped with Cloud, Data and AI… Sixth Fifth Orbit Fourth Orbit 2024 onwards Third Orbit 2019 – 2023 o Pivot to AI-led, platform-driven Second Orbit 2016 – 2019 o Strong positioning services strategy o New growth vectors at the intersection First Orbit 2008 – 2016
Slide 7: Powered by 28,600+ employees spread across the globe
…powered by 28,600+ employees spread across the globe… Canada Netherlands UK Germany Estonia China Ireland USA Romania Poland Abu Dhabi India France Malaysia Japan Switzerland Mexico Costa Rica Singapore GenAI Studio India | US | UK South Africa Australia North America Europe India Rest of the World
Slide 8: Built on our Digital Engineering heritage
…and built on our Digital Engineering heritage Powered by AI Unlock Software, Hi-Tech Banking, Financial Healthcare Growth Co-Innovation with & Emerging Services & & Life Clients Industries Insurance Sciences Enable Business Agility Product & Platform Engineering Validation from Accelerate Industry
Slide 9: We are helping market leaders transform their industries
We are helping market leaders transform their industries Software & Hi-Tech Banking, Financial Services & Insurance 7 of 10 9 of 10 Top US Banks2 5 of 10 Top Technology Top Companies1 5 of 10 FinTech Companies4 Top Indian Banks3 Healthcare & Life Sciences 6 of 10 4 of 10 3 of 10 5 of 10 Top SIMD* To
Slide 10: We continue to scale our long-term growth trajectory
We continue to scale our long-term growth trajectory… Revenue in $M 1,717 17.3% 23.9% 1,654 Revenue CAGR 5-Year Revenue CAGR From IPO to FY26 between FY21 and FY26 1,409 1,186 Axis Title 1,036 766 566 471 481 502 429 352 309 274 207 238 170 127 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20
Slide 11: With 25 sequential quarters of revenue growth
…with 25 sequential quarters of revenue growth… Revenue in $M 452.4 436.0 422.5 406.2 389.7 375.2 360.2 345.5 328.2 310.9 300.6 291.7 274.6 282.9 255.6 264.4 241.5 217.3 199.1 182.3 166.8 146.2 152.8 131.0 136.1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY21 FY21 FY2
Slide 12: Relative outperformance vs listed Indian IT peers
… and relative outperformance vs listed Indian IT Peers… Revenue Growth (USD) % Q1FY27 ▪ Only publicly listed Indian IT Company Revenue QoQ YoY 8Q CQGR 16Q CQGR services company to have (in USD Mn) TCS 7,624 0.04% 2.74% 0.20% 0.74% delivered 25 consecutive Infosys 5,082 0.83% 2.85% 0.94% 0.84% quart
Slide 13: Sustained growth and profitability
…while delivering sustained growth and profitability Revenue ($M), % YoY Growth EBIT and PAT Margin %1 1,654.4 2 15.6% 1,409.1 14.4% 14.7% 1,186.1 2 12.6% 11.7% 11.1% FY24 FY25 FY26 FY24 FY25 FY26 YoY (USD) Growth % 14.5% 18.8% 17.4% EBIT% PAT% YoY (INR) Growth % 17.6% 21.6% 23.5% Notes: Please refe
Slide 14: Broad-based momentum across industry segments
Broad-based momentum across industry segments… Software, Hi-Tech & Banking, Financial Healthcare Emerging Industries Services & Insurance & Life Sciences Revenue ($M) Revenue ($M) Revenue ($M) 659.4 579.3 571.8 558.6 423.2 445.2 384.6 377.8 249.7 FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 FY26 13 Notes
Slide 15: Deepening strategic client relationships
…and deepening strategic client relationships… Client Concentration Top 10 clients as % of total revenue Client Count Engagement size FY24 FY25 FY26 Q1FY27 $75M+ 2 4 4 4 $20M – $75M 8 6 8 8 43.0% 41.6% 40.9% $10M – $20M 7 11 17 20 39.0% $5M – $10M 23 34 33 28 $1M – $5M 138 136 139 154 Clients ($1M+)
Slide 16: Scalable and differentiated Go-To-Market
...underpinned by a scalable and differentiated Go-To-Market… Strengthened Growth mindset Seeding alternate capabilities and and detailed out engines of ecosystem strength GTM playbook – Strengthened our scalable growth Clearly defined our capabilities with focused Tapped into alternate Industry ver
Slide 17: Executed with discipline on the back of systems and processes
…executed with discipline on the back of systems and processes The Planning system called Huddle system - Defining, measuring & consistently improving on the key metrics o Revenue, bookings, profitability: Historical data vs future planning Singular focus on capability build and articulation to vari
Slide 18: AI-led, platform-driven strategy and 3C framework
Over the past few quarters, we established AI-led, platform-driven strategy & worked on 3C framework that turns AI investments into Enterprise ROI… 17 Notes: 1. As of June 30, 2026
Slide 19: Extracting business logic to create a unified Context
…by extracting business logic embedded across the Enterprise to create a unified Context Business logic Architect Context as Create a Living, Drive impactful locked inside a moat with Learning and business outcomes Enterprise assets accelerators Intelligent Enterprise ` Legacy Code Documents Enginee
Slide 20: Our strategies for continued long-term growth
Our strategies for continued long-term growth Consistently strengthen capabilities along with disciplined execution Pursue selective resulting in Geographic expansion value-accretive M&A consistent growth across client base and delivery locations Strengthen AI-first ⚫ End-market and service line ent
Slide 21: In Summary: Our Growth is seeding further growth
In Summary: Our Growth is seeding further growth Strong Capability Outperformance Build with versus listed innovation-first Indian IT peers1 workplace culture Track record of AI-led digital consistent engineering industry-leading1 platform driven and profitable, enterprise capital efficient transfor
Slide 22: Acquisition of Nagarro
Acquisition of Nagarro
Slide 23: Nagarro: EUR 1 billion Digital Engineering Business
Nagarro: EUR 1 billion Digital Engineering Business with a scaled European footprint and complementary vertical and technology capabilities… €999.3M 2.8% €138.2M 13.8% CY2025 Revenue CY2025 YoY Growth CY2025 Adjusted EBITDA(1) CY2025 Adj. EBITDA Margin(2) • Headquartered in Munich, Germany and liste
Slide 24: Complementary strategic fit across regions and verticals
… a highly complementary strategic fit that creates a globally balanced profile across regions and verticals Regional Revenue Split (%) Revenue by Vertical (%) Europe ROW 8.7% 1.9% Healthcare & Life Sciences India Software, Hi-Tech & 25.6% 8.8% Emerging Industries 39.8% Persistent North America 80.6
Slide 25: An AI-led engineering powerhouse serving global clients
An AI-led engineering powerhouse to serve global clients with end-to-end offerings across multiple sectors Nagarro brings a global talent of 18,003 employees including 16,429 engineering professionals, and an New dimension of scale extensive international delivery network across 38 countries, which
Slide 26: Transaction details
Transaction details Persistent has agreed to acquire 100% of Nagarro at an Enterprise Value** of EUR ~1.27B, based on EUR 81 per share in cash • A premium of ~140% to the undisturbed closing price on June 25, 2026, and ~94% to three-month volume- weighted average price • Transaction values Nagarro a
Slide 27: Transaction timelines
Transaction timelines 26 June 2026 July - September 2026 Q4 CY26 / Q1 CY27 Announce Acceptance Persistent Regulatory Closing Offer Period Systems Announcement of RBI application filed Offer document All transaction related Expected for Q4 CY26 / Q1 Voluntary Public through AD bank publishe
Slide 28: Persistent
f Persistent
Slide 29: Appendix: Weighted Exchange Rates
Appendix Period Weighted Exchange Rate Period Weighted Exchange Rate (quarter) (INR/USD) (fiscal year) (INR/USD) Q1FY27 95.12 FY26 89.15 Q4FY26 93.03 FY25 84.73 Q3FY26 89.42 Q2FY26 88.16 FY24 82.81 Q1FY26 85.53 FY23 80.61 Q4FY25 86.41 Q3FY25 85.01 FY22 74.59 Q2FY25 83.85 FY21 73.98 Q1FY25 83.40 Q4FY