Slide 1: NSE filing cover letter for fact sheet
NSE & BSE / 2026-27 / 160 October 15, 2026 The Manager The Manager Corporate Services Corporate Services National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra Kurla Complex, P J Towers, Dalal Street, Bandra (E), Mumbai 400 051 Mumbai 400 001 Ref: Symbol: PERSISTENT Ref: Scrip C
Slide 2: Investor Presentation October 2026
Investor Presentation October 2026 © 2026©Persistent 2026 Persistent Systems Systems
Slide 3: Forward-looking and Cautionary Statements
Forward-looking and Cautionary Statements Certain statements in this Presentation concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statement
Slide 4: We are Persistent
We are Persistent AI-led, Platform-driven Digital Engineering & Enterprise Modernization partner $487.6M 15.0% 10.6%* FY27 Q2 Revenue EBIT Margin Operating PAT Margin +20.0% YoY +19.5% YoY +5.0% YoY $1,798.5M $1,964.8M $8.7B** TTM Revenue TTM ACV Bookings Market Capitalization As of September 30, 20
Slide 5: Our journey over 36+ years 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 6: 29,500+ employees spread across the globe
…powered by 29,500+ employees spread across the globe… Canada Netherlands UK Germany Estonia China Ireland USA Romania Poland UAE India France Malaysia Japan Switzerland Mexico Costa Rica Singapore GenAI Studio South Africa Australia North America Europe India Rest of the World 3,477 432 25,452 237
Slide 7: 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 8: 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 Banks 5 of 10 Top Technology Top Companies 5 of 10 FinTech Companies Top Indian Banks Healthcare & Life Sciences 6 of 10 4 of 10 3 of 10 5 of 10 Top SIMD* Top Ph
Slide 9: Long-term growth trajectory in revenue
We continue to scale our long-term growth trajectory… Revenue in $M 1,950 17.3% 23.9% Revenue CAGR 5-Year Revenue CAGR 1,654 From IPO to FY26 between FY21 and FY26 1,409 1,186 1,036 766 566 471 481 502 429 352 274 309 207 238 170 127 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 F
Slide 10: Sequential quarters of revenue growth
…with 26 sequential quarters of revenue growth… Revenue in $M 487.6 452.4 436.0 422.5 406.2 389.7 375.2 360.2 345.5 328.2 310.9 291.7 300.6 274.6 282.9 255.6 264.4 241.5 217.3 199.1 182.3 166.8 152.8 131.0 136.1 146.2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY21
Slide 11: Sustained growth and profitability
…while delivering sustained growth and profitability Quarterly Revenue ($M), % QoQ and % YoY Growth EBIT and PAT Margin % 487.6 452.4 16.3% 16.3% 16.0% 436.0 15.6% 15.5% 422.5 14.9% 15.0% 14.4%* 406.2 389.7 13.1% 13.2% 375.2 12.7% 360.2 12.2% 12.2% 11.6% * 11.2% 10.6%** 7.5% Q3FY25 Q4FY25 Q1FY26 Q2F
Slide 12: Broad-based momentum across industry segments
We are seeing broad-based momentum across all our industry segments… Quarterly Revenue ($M) Software, Hi-Tech & Banking, Financial Healthcare Emerging Industries Services & Insurance & Life Sciences 208.5 164.3 114.8 3.2% 9.7% 14.1% 15.5% 14.7% 11.2% 15.7% 28.5% 22.0% 26.6% 30.7% 30.0% 29.3% 24.3% 1
Slide 13: Deepening strategic client relationships
…by deepening strategic client relationships… Client Concentration Large Client Count Top 10 clients as % of total revenue >$5M Annual Revenue 62 61 46.8% 60 60 56 56 55 43.2% 43.7% 43.0% 42.2% 42.1% 42.0% 47 40.0% Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY25 FY25 FY26 FY26 FY26 FY26 FY27 FY
Slide 14: Disciplined execution and efficient capital utilization
…backed by disciplined execution and efficient capital utilization… Operating Cash Flow (OCF) to PAT% Days Sales Outstanding (DSO) 102.2% 103.2% 96.6% 81 80 86 94.7% 75 74 76.2% 57 61 54 53 50 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 OCF to PAT% = TTM OCF/TTM P
Slide 15: Industry-leading value for shareholders
…translating sustained performance into industry-leading value for our shareholders Persistent Total Shareholder Return Persistent 1-Year Stock Performance 1 year 9.5% return 0.8% 3 year 82.1% +9.5% return 3.5% -8.1% 5 year 184.1% return 7.6% -17.7% 7 year 1752.4% return 55.3% Sep-25 Dec-25 Mar-26 J
Slide 16: Ecosystem Orchestrator of Choice
We are the “Ecosystem Orchestrator of Choice” for our customers Solutions Partner in 6 areas* Premier Partner Premier Partner Global Summit Partner 7,190+ Certifications 2,710+ Certifications 2,350+ Certifications 9,760+ Certifications Platinum Partner Premier Partner Select Partner Select Partner
Slide 17: 3C framework turns AI investments into Enterprise ROI
We have established our 3C framework that turns AI investments into Enterprise ROI… Re(AI)magining Enterprise Transformation Enable Enterprises to drive business impact through AI-first, industry-specific, cross-functional solutions Engineering Hyper-Productivity Business Hyper-Productivity Drive hy
Slide 18: Unified Enterprise Context from embedded business logic
…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 Engine
Slide 19: Partnerships, IP, accelerators and solutions
…powered by our strategic partnerships, IP, accelerators and solutions Re(AI)magining Enterprise Transformation Driving business impact through AI-first, industry-specific, cross-functional solutions Engineering Hyper-Productivity Business Hyper-Productivity Enterprise Data Readiness for AI Persiste
Slide 20: Sustainability and inclusivity in long-term ESG goals
Sustainability and inclusivity are embedded in our long-term ESG goals… Environment Social Responsibility o Maintain annual carbon neutrality, reduce o Impact 60,000+ lives through programs emissions by 54.6% by FY34 and achieve in Education, Healthcare, Community net zero by FY50 Development, Herit
Slide 21: Impact on our people and communities
…enabling us to make a meaningful impact on our people and communities Included in the Dow Jones Environment Social Responsibility Diversity World Sustainability Index Energy Biodiversity 76,495 29.6% 13.4% Lives impacted through CSR Women in the Women in 98.6% 52,724 programs workforce leadership r
Slide 22: Performance Highlights
Performance Highlights 21 © 2026 Persistent Systems
Slide 23: CEO message Sandeep Kalra
“We are pleased to report Q2 FY27 revenue of USD 487.6M, marking our 26th sequential quarter of growth. This reflects a 7.8% increase quarter-over-quarter and 20.0% year- over-year, with an EBIT margin of 15.0%. We made substantial progress towards the Nagarro acquisition, securing approximately 94.
Slide 24: Q2 FY27: Financial Highlights
Q2 FY27: Financial Highlights Revenue ($ million) 7.8% QoQ 20.0% YoY Revenue (₹ million) 8.4% QoQ 30.3% YoY 487.6 46,639.0 452.4 43,032.3 406.2 35,807.2 Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 EBIT (₹ million) 1.6% QoQ 19.5% YoY PAT (₹ million) 2.5% QoQ 5.0% YoY 6,868.8 6,977.2 4,714.7 4,830.4 4,9
Slide 25: Q2 FY27: TTM Performance
Q2 FY27: TTM Performance Revenue ($ million) 17.4% Revenue (₹ million) 27.1% 1,798.5 168,012.7 1,531.3 132,187.0 TTM Q2FY26 TTM Q2FY27 TTM Q2FY26 TTM Q2FY27 EBIT (₹ million) 25.4% PAT (₹ million) 16.9% 25,865.1 19,469.1 20,625.7 16,651.6 Margin % 15.6% 15.4% Margin % 12.6% 11.6% TTM Q2FY26 TTM Q2FY2
Slide 26: Q2 FY27: TCV and ACV Bookings
Q2 FY27: TCV and ACV Bookings Trailing Twelve Months TCV* $3,055.1M Trailing Twelve Months TCV (New) $2,097.3M 1,146.2 952.2 674.5 633.5 600.8 369.1 408.9 367.1 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Quarterly TCV ($M) Quarterly TCV ($M) Trailing Twelve Months ACV* $1,964.8M Trailin
Slide 27: Q2 FY27: Key Wins
Q2 FY27: Key Wins Software, Hi-Tech & Banking, Financial Healthcare Emerging Industries Services & Insurance & Life Sciences Accelerating mainframe and legacy Modernizing a large legacy estate supporting Unifying fragmented IT operations across ERP, modernization through agentic AI ecosystems, perso
Slide 28: Notable News
Notable News 27 © 2026 Persistent Systems
Slide 29: Business Combination Agreement with Nagarro
In line with our stated M&A strategy, we signed a Business Combination Agreement with Nagarro to build a global leader in AI-led Digital Engineering ~$2.9B 46,000+ 40+ revenue* run rate professionals countries 28 © 2026 Persistent Systems **Proforma annualized revenue as of March 31, 2026
Slide 30: Transaction status as on date
Transaction status as on date June 26, 2026 July - September 2026 Q4 CY26 / Q1 CY27 Offer Acceptance Shareholder Regulatory Closing Announced Period Meetings o Announcement of o RBI application filed o Offer document o AGM (Aug. 2026): All o Expected by Q4 CY26 / Voluntary Public through AD bank pub
Slide 31: Diversified funding plan balances cost, leverage and dilution
A diversified funding plan balances cost, leverage and dilution Diversified, lower-cost funding Prudent leverage Limited dilution A mix of debt, QIP equity and An equity component keeps the debt- Equity capped at USD 450M of the convertible bonds (FCCBs) diversifies to-equity ratio balanced after US
Slide 32: Combined group value creation opportunity
The combined Persistent – Nagarro group presents a significant value creation opportunity for all shareholders, clients, partners and employees Persistent Clients Partners Employees Shareholders Expansion of Total Addressable A single global partner with the Global coverage and scale Broader career
Slide 33: Awards and Recognitions
Awards and Recognitions 32 © 2026 Persistent Systems
Slide 34: Recognized by analysts and advisors
We continue to be recognized by analysts and advisors for our differentiated capabilities and growth trajectory Received Five Awards at the ISG (Information Services For Second Year in a Row, Awarded the Growth Honor of Group) Provider Lens Awards 2026 the Year at Everest Group Elevate 2026 “Persist
Slide 35: AI-enabled talent supply chain ISB case study
Our AI-enabled talent supply chain spotlighted in an ISB case study published by Harvard Business Impact Shift from Reactive Recruitment to a Proactive, Intelligence- Driven Fulfillment-as-a-Service Model The Indian School of Business (ISB) case study illustrates how this transformation is strengthe
Slide 36: Awarded for ESG and People Excellence
We were awarded for our commitment to ESG and People Excellence Recognized at the BW Sustainable World Awards 2026 Named as one of America's Greatest Workplaces in Honored across seven categories at the People Matters in the Climate Action & Carbon Neutrality Tech 2026 by Newsweek, for fostering a c
Slide 37: Financial Details
Financial Details 36 © 2026 Persistent Systems
Slide 38: Sequential Q2 FY27 vs Q1 FY27
Sequential Q2 FY27 vs Q1 FY27 % of Sales % of Sales Particulars (₹ M, unless otherwise stated) Q2FY27 Q1FY27 Change QoQ Q2FY27 Q1FY27 Revenue ($ M) 487.6 452.4 7.8% Avg. Exchange Rate ₹ / US$ 95.7 95.1 0.6% Revenue (₹ M) 46,639.0 43,032.3 8.4% Total Direct costs 30,898.7 27,915.4 10.7% 66.3% 64.9% G
Slide 39: YoY Comparison: Q2 FY27 vs Q2 FY26
YoY Comparison: Q2 FY27 vs Q2 FY26 % of Sales % of Sales Particulars (₹ M, unless otherwise stated) Q2FY27 Q2FY26 Change YoY Q2FY27 Q2FY26 Revenue ($ M) 487.6 406.2 20.0% Avg. Exchange Rate ₹ / US$ 95.7 88.2 8.5% Revenue (₹ M) 46,639.0 35,807.20 30.3% Total Direct costs 30,898.7 22,923.8 34.8% 66.3%
Slide 40: YoY Comparison: H1 FY27 vs H1 FY26
YoY Comparison: H1 FY27 vs H1 FY26 % of Sales % of Sales Particulars (₹ M, unless otherwise stated) H1FY27 H1FY26 Change YoY H1FY27 H1FY26 Revenue ($ M) 940.0 795.9 18.1% Avg. Exchange Rate ₹ / US$ 95.4 86.9 9.8% Revenue (₹ M) 89,671.3 69,143.07 29.7% Total Direct costs 58,814.0 44,500.0 32.2% 65.6%
Slide 41: Balance Sheet
Balance Sheet As on As on As on Particulars (₹ M) September 30, 2026 March 31, 2026 September 30, 2025 Assets PPE and Intangible Assets 39,794.0 28,935.6 27,321.1 Non-Current Assets 8,481.8 7,563.8 6,139.2 Cash and Investments 29,996.6 27,622.0 24,957.3 Other Current Assets 53,371.7 49,644.0 40,483.
Slide 42: Fact Sheet
Fact Sheet 41 © 2026 Persistent Systems
Slide 43: Fact Sheet
Fact Sheet Q2FY27 Q1FY27 Q4FY26 Q3FY26 Q2FY26 FY26 FY25 Revenue from Operations, $M 487.6 452.4 436.0 422.5 406.2 1,654.4 1,409.1 % QoQ growth 7.8% 3.8% 3.2% 4.0% 4.2% % QoQ growth 7.8% 4.1% 3.4% 4.1% 4.4% (constant currency) Revenue % YoY growth 20.0% 16.1% 16.2% 17.3% 17.6% 17.4% 18.8% % YoY growt
Slide 44: Fact Sheet
Fact Sheet Q2FY27 Q1FY27 Q4FY26 Q3FY26 Q2FY26 FY26 FY25 BFSI 33.7% 34.0% 34.5% 35.0% 34.8% 34.6% 31.6% Segment Healthcare & Life Sciences 23.5% 25.3% 26.3% 25.4% 25.2% 25.6% 27.3% Revenue Mix Software, Hi-Tech & Emerging 42.8% 40.7% 39.2% 39.6% 40.0% 39.8% 41.1% Industries Total 100.0% 100.0% 100.0%
Slide 45: Fact Sheet
Fact Sheet Q2FY27 Q1FY27 Q4FY26 Q3FY26 Q2FY26 FY26 FY25 Hedges Outstanding Hedges ($M) 500 500 500 490 475 500 300 Rates (₹/$) 95.6 93.3 90.7 89.1 87.8 90.7 86.3 Q2FY27 Q1FY27 Q4FY26 Q3FY26 Q2FY26 FY26 FY25 Top 5 38.1% 33.2% 31.5% 32.9% 32.9% 32.2% 31.3% Revenue Top 10 46.8% 43.0% 42.1% 43.7% 43.2%
Slide 46: Fact Sheet
Fact Sheet Q2FY27 Q1FY27 Q4FY26 Q3FY26 Q2FY26 FY26 FY25 Technical 27,814 26,905 25,849 25,077 24,608 25,849 23,072 People Sales and Business Development 603 579 543 520 510 543 485 Numbers Others 1,181 1,156 1,110 1,114 1,106 1,110 1,037 Total 29,598 28,640 27,502 26,711 26,224 27,502 24,594 Q2FY27
Slide 47: © 2026 Persistent Systems
© 2026 Persistent Systems