Slide 1: The Turnaround You Didn't See Coming
<Ksubex” The Turnaround You Didn't See Coming Al is rewriting the economics and we have the proof 30 June 2026 30+ Years of Domain Expertise 150+ Installations in 100+ Countries 95% Customer Retention ~70% Recurring Revenue
Slide 2: Forward-looking statements disclaimer
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 forward4ooking statements. the risks and uncertainties relating to the
Slide 3: A 3-5 Year Window is Open
A 3-5 Year Window is Open sudex” Telco industry is getting reshaped Unlock Incremental Telco Is the Last New Spend Al Frontier e _| $1.7 Trillion industry 1.3T Al Sessions per year (53.5% on mobile) — Nokia $30-40B New Spending every year Lai a 27B tokens per day - AT&T 6G is Al & Agent Native - Qua
Slide 4: Telcos leak 2.46% of revenues
Telcos leak 2.46% of revenues fraud Subex protects telco revenues through Business Assurance, Fraud management, and Partner Ecosystem Management. Telco Revenue losses growing at almost 6x the industry growth and drive new category spend Source: CFCA
Slide 5: Deep Install Base and High Switching Costs
Deep Install Base and High Switching Costs EMEA ==> || life) || * rid ¥\[ 2 fg | comme} GO || @ | Bu De \l TD [ Pane)| | fe) [o 2 2) & | Se || colt) sre o } wer | Gee te fee OF, | | oss) - Prent BRR | elise | | Gene) fom S| Bt | Ocya)| oe | tun Pee vas @ 2 |__ J cecanal A= Let desea Mental is || eS
Slide 6: We Build Products
ompany — We Build Products subex” BUSINESS ASSURANCE (BA) (BA) * Revenue Assurance (RA) * Margin Assurance af al [ a Migration Assurance, etc. FRAUD MANAGEMENT (FM) * Comprehensive telco frauds frauds detection, prevention prevention and case management Al AT THE CORE * Embedded Al in Subex platform
Slide 7: Back to profitability (FY23 to FY26)
* Back to profitability (FY23 to FY26) * EBITDA (3.9)% to 10.3% * PAT (18.4)% to 10.2% * ~44% increase in Cash and cash equivalent to % 175.26 crs. * Exited non-core business EBs * Reinvest in core telco business where we have a moat Ee * 30% Employee Productivity unlock * No de-growth in transforma
Slide 8: Proof Points
subex” Proof Points * GenAl SDLC + Fraudzap™ * Configurable in Al Agent dramatically sold in 6 weeks vs managed vs Deployment/ reducing months months in Telco humans contracts across timelines * GenAl first, products * Fraud Tier 1 Telcos * Fraudzap™ built use ChatGPT + LLM generated Investigation i
Slide 9: Device Fraud was the proof of concept; the rest is the opportunity
subex” Telco Fintech * MVNO Fraud Controls + Revenue Assurance Subscription Fraud Device & Equipment Theft » Account Takeover + Social Engineering» A2P/SMS Fraud \ Telco in-house team displacement » Managed service replacement + \ Investigation automation IRSF/AIT + Simbox/Bypass - CLI Spoofing + Wa
Slide 10: Our Right to Create Long Term Value
500B+ Records/day processed Live telco data across 100+ networks 30+ Yrs and telco logic Our Right to Create Long Term Value Domain expertise Fraud patterns, assurance models and subex” 95% Customer retention High switching cost and deep integration Revenue 1. Existing market Upsell Al use cases Fas
Slide 11: A turnaround re-rating opportunity for an AI Product Company
Device fraud demonstrates the new model works: Al-native products, faster build, faster deploy, higher margin. This is repeatable across the portfolio. ~70% of revenue is recurring. 95% customer retention. Al upsell is incremental, it's the growth layer on top of a stable annuity base that doesn't n
Slide 12: Thank You
Thank You