Slide 1: Exchange cover letter: Fact Sheet for quarter ended December 31, 2025
NSE & BSE / 2025-26 / 194 January 20, 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
Slide 2: Investor Presentation January 2026
Investor Presentation January 2026 © 2026 Persistent 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 $422.5M 14.4% 11.6% FY26 Q3 Revenue EBIT Margin* PAT Margin* +17.3% YoY +19.1% YoY +17.8% YoY $1,593.6M $1,685.3M $11.0B TTM Revenue TTM ACV Bookings Market Capitalization as of December 31, 2025 +18.5%
Slide 5: Our journey over 35+ years has been shaped with Cloud, Data and AI
Our journey over 35+ 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 services strategy First Orbit 2008 – 2016 o Caught the early positioning as a global Digital o
Slide 6: Powered by our 26,500+ employees spread across the globe
…powered by our 26,500+ employees spread across the globe… Canada Netherlands UK Germany Ireland Poland USA Romania India France Malaysia Japan Switzerland Mexico Costa Rica Singapore GenAI Studio South Africa Australia North America Europe India Rest of the World 3,049 303 23,200 159 Employees Empl
Slide 7: Built on our Digital Engineering heritage
…and built on our Digital Engineering heritage Powered by AI Unlock Growth Co-Innovation with Software, Hi-Tech Banking, Financial Healthcare & Emerging Services & & Life Clients Industries Insurance Sciences Enable Business Agility Product & Platform Engineering Validation from Accelerate Industry
Slide 8: 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 4 of 5 3 of 5 Top Technology Top Banks Top Companies (in both US & India) FinTech Companies Healthcare & Life Sciences 3 of 5 3 of 5 2 of 5 4 of 5 Top SIMD* Top Pharmaceutical
Slide 9: We continue to build on our long-term growth journey
We continue to build on our long-term growth journey… Revenue in $M 1,690 17.4% 25.6% Revenue CAGR 4-Year Revenue CAGR From IPO to FY25 between FY21 and FY25 1,409 1,186 1,036 Axis Title 766 566 471 481 502 429 352 309 274 207 238 170 127 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 F
Slide 10: Sequential revenue growth over the last 23 quarters
…with sequential revenue growth over the last 23 quarters… Revenue in $M 422.5 422.5 406.2 389.7 375.2 360.2 345.5 328.2 310.9 282.9 291.7 300.6 274.6 255.6 264.4 241.5 217.3 199.1 182.3 166.8 146.2 152.8 131.0 136.1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY21 FY21 FY21
Slide 11: Delivering sustained, profitable growth
…while delivering sustained, profitable growth Quarterly Revenue ($M), % QoQ and % YoY Growth EBIT and PAT Margin % 422.5 406.2 389.7 16.3% 16.7% 375.2 15.6% 15.5% 360.2 14.9% 14.5% 14.4%* 345.5 14.0% 14.0% tY1 328.2 42 13.4% 310.9 0ll eX! 12.7% 13.2% $ 12.2% 12.2% 12.2% 11.6%* 11.2% 11.2% Q4FY24 Q1
Slide 12: Steady performance across all industry segments
We are witnessing steady performance across all industry segments… Quarterly Revenue ($M) Software, Hi-Tech & Banking, Financial Healthcare Emerging Industries Services & Insurance & Life Sciences 167.3 147.8 107.4 6.3% 2.4% -0.5% 3.2% 9.7% 14.1% 15.5% 14.7% 7.6% 7.3% 15.3% 22.0% 26.6% 30.7% 30.0% 2
Slide 13: Expanding offerings and deepening client relationships
…by expanding our offerings and deepening our client relationships… Client Concentration Large Client Count Top 10 clients as % of total revenue >$5M Annual Revenue 61 56 56 55 43.7% 43.2% 42.2% 42.0% 41.5% 41.5% 40.0% 40.0% 47 43 41 40 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY24 FY25 FY25
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) 114.3% 105.3% 98.6% 86 81 81 84.4% 91.0% 76 75 64 58 56 54 57 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q3 FY25 Q4 FY25 Q1FY26 Q2FY26 Q3FY26 Days Billed Incl. Unbilled Ret
Slide 15: Industry-leading, long-term shareholder value
…resulting in industry-leading, long-term shareholder value Persistent Total Shareholder Return Persistent 1-Year Stock Performance -2.9% 1 year return 0.5% 10.5% - 2.9% 3 year return 224.1% 4.4% - 12.6% 5 year return 726.8% 14.7% Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 Persistent NIFTY IT NIFTY 50 Share
Slide 16: Ecosystem Orchestrator of Choice: 24,400+ Partner Certifications
We are the “Ecosystem Orchestrator of Choice” for our customers Solutions Partner in 5 areas* Premier Partner Premier Partner Global Summit Partner 8,150+ Certifications 2,160+ Certifications 1,610+ Certifications 10,660+ Certifications Platinum Partner Premier Partner Select Partner 1,310+ Certific
Slide 17: AI-led, platform-driven strategy
Over the past few quarters, we established and operationalized our AI-led, platform-driven strategy… AI for Technology AI for Business Strategic Big Bets o Expanding and strengthening existing AI capabilities Platform-based Services o Domain-driven capabilities for industry-specific, Agentic AI-led
Slide 18: Accelerating enterprise-wide transformation at scale
…and are accelerating enterprise-wide transformation at scale… 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 hyper-productivity in s
Slide 19: Strategic partnerships, IPs, accelerators and solutions
…powered by our strategic partnerships, IPs, accelerators and solutions 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 IPs Platforms IPs Pl
Slide 20: Sustainability and inclusivity embedded in long-term ESG goals
Sustainability and inclusivity are embedded in our long-term ESG goals… Environment Social Responsibility o Maintain carbon neutrality for o Uplift society through education, scope 1 and 2 emissions and health, community development and achieve SBTi-approved net-zero conservation of heritage and wil
Slide 21: Meaningful impact on our people and communities
…enabling us to make a meaningful impact on our people and communities Environment Included in the Dow Jones World For the second year in a row, we achieved carbon neutrality for Scope 1 and Scope 2 emissions Sustainability Index 62.7% 35,795 35% 99% Electricity sourced from Trees planted, taking th
Slide 22: Performance Highlights
Performance Highlights 21 © 2026 Persistent Systems
Slide 23: CEO Sandeep Kalra commentary
“We delivered sustained performance, achieving our 23rd sequential quarter of revenue growth with 4.0% quarter-on-quarter and 17.3% year-on-year growth. This was accompanied by an EBIT margin of 16.7%, excluding a one-time impact of ~2.3% arising from the New Labour Codes. In line with this performa
Slide 24: Q3 FY26: Financial Highlights
Q3 FY26: Financial Highlights Revenue ($ million) 4.0% QoQ 17.3% YoY Revenue (₹ million) 5.5% QoQ 23.4% YoY 422.5 37,782.1 406.2 35,807.2 360.2 30,622.8 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 EBIT (₹ million) 7.0% QoQ 19.1% YoY PAT (₹ million) 6.8% QoQ 17.8% YoY 4,714.7 5,837.4 5,427.5 4,394.5 4,
Slide 25: Q3 FY26: TCV and ACV Bookings
Q3 FY26: TCV and ACV Bookings Trailing Twelve Month TCV* $2,322.0M Trailing Twelve Month TCV (New) $1,385.9M 674.5 369.1 609.2 350.8 329.0 337.0 517.5 520.8 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Quarterly TCV ($M) Quarterly TCV ($M) Trailing Twelve Month ACV* $1,685.3M Trailing Twe
Slide 26: Q3 FY26: TTM Performance
Q3 FY26: TTM Performance Revenue ($ million) 18.5% Revenue (₹ million) 23.5% 1,593.6 139,346.2 1,344.8 112,871.3 TTM Q3FY25 TTM Q3FY26 TTM Q3FY25 TTM Q3FY26 EBIT(₹ million) 32.7% PAT (₹ million) 31.2% 21,495.9 17,316.2 16,204.2 13,197.2 Margin % 14.4% 15.4% Margin % 11.7% 12.4% TTM Q3FY25 TTM Q3FY26
Slide 27: Q3 FY26: Key Wins
Q3 FY26: Key Wins Software, Hi-Tech & Banking, Financial Healthcare Emerging Industries Services & Insurance & Life Sciences Scaling an AI-led digital commerce product Re-architecting payroll and HCM platforms Accelerating automation and cloud-native with SASVA and partnering to migrate end using SA
Slide 28: Notable News and Achievements
Notable News and Achievements 27 © 2026 Persistent Systems
Slide 29: Shareholder Update: Dividend Declaration
Shareholder Update: Dividend Declaration ₹22 The Board of Directors declared an Interim Dividend of ₹22 per share* on the face value of ₹5 each for the Financial Year 2025-26. *Compared to interim dividend of ₹20 in FY25 28 © 2026 Persistent Systems
Slide 30: Named one of the Most Valuable Indian Brands by Kantar BrandZ
We were named one of the Most Valuable Indian Brands by Kantar BrandZ Strong Debut as 6th in the Business Technology and Services Category, with a $2.9B Brand Valuation This recognition reflects: o Strong brand equity, sustained performance and the ability to translate brand strength into business v
Slide 31: Leaders recognized for disciplined stewardship and business impact
Our leaders were recognized for disciplined stewardship and enduring business impact… Dr. Anand Deshpande and Sandeep Kalra were jointly recognized by Fortune Sandeep Kalra was recognized as a winner at ET Edge India’s Impactful CEO India as India’s Best CEOs in the IT Services (mid-cap) category fo
Slide 32: Top honors from academic and scientific institutions
…and received top honors from preeminent academic and scientific institutions Dr. Anand Deshpande was elected a Fellow of the Indian National Science Sandeep Kalra received the Distinguished Alumnus Award, from Indian Academy. Institute of Management, Calcutta as a part of its 65th Foundation Day ce
Slide 33: Endorsed as a Frontier Firm by Microsoft
We were endorsed as a Frontier Firm by Microsoft for leading the innovation curve In January 2025, Microsoft CEO Persistent recognized as a Satya Nadella spotlighted Frontier Firm, featured on Persistent’s ContractAIAssist stage and in the official look-book. agent Read more Read more Microsoft AI T
Slide 34: Positioned by ISG at the forefront of AI- and data-led outcomes
We were positioned by ISG at the forefront of AI- and data-led client outcomes Won the 2025 ISG Star of Excellence Award for Leader in 2025 ISG Provider Lens® AI and Data Excellence Generative AI Services “Persistent exemplifies AI and data excellence through its fusion of strategic advisory, strong
Slide 35: Commended for a future-ready talent ecosystem
We were commended for a future-ready talent ecosystem enabling execution consistency and long-term growth Cited as a Leader in the Everest Ranked first in APAC for Group Talent Readiness for candidate experience in the Next-generation Data, Analytics CandE Candidate Experience and AI Services PEAK M
Slide 36: Financial Details
Financial Details 35 © 2026 Persistent Systems
Slide 37: Sequential Q3 FY26 vs Q2 FY26
Sequential Q3 FY26 vs Q2 FY26 % of Sales % of Sales Particulars (₹ M, unless otherwise stated) Q3FY26 Q2FY26 Change QoQ Q3FY26 Q2FY26 Revenue ($ M) 422.5 406.2 4.0% Avg. Exchange Rate ₹ / US$ 89.4 88.2 1.4% Revenue (₹ M) 37,782.1 35,807.2 5.5% Total Direct costs 25,017.8 22,923.8 9.1% 66.2% 64.0% Gr
Slide 38: YoY Comparison: Q3 FY26 vs Q3 FY25
YoY Comparison: Q3 FY26 vs Q3 FY25 % of Sales % of Sales Particulars (₹ M, unless otherwise stated) Q3FY26 Q3FY25 Change YoY Q3FY26 Q3FY25 Revenue ($ M) 422.5 360.22 17.3% Avg. Exchange Rate ₹ / US$ 89.4 85.0 5.2% Revenue (₹ M) 37,782.1 30,622.8 23.4% Total Direct costs 25,017.8 20,000.4 25.1% 66.2%
Slide 39: YoY Comparison: 9M FY26 vs 9M FY25
YoY Comparison: 9M FY26 vs 9M FY25 % of Sales % of Sales Particulars (₹ M, unless otherwise stated) 9M FY26 9M FY25 Change YoY 9M FY26 9M FY25 Revenue ($ M) 1,218.4 1,033.91 17.8% Avg. Exchange Rate ₹ / US$ 87.8 84.1 4.3% Revenue (₹ M) 106,925.1 86,966.1 23.0% Total Direct costs 69,517.8 57,623.0 20
Slide 40: Balance Sheet
Balance Sheet As on As on As on Particulars (₹ M) December 31, 2025 March 31, 2025 December 31, 2024 Assets PPE and Intangible Assets 27,618.3 26,184.4 24,968.6 Non-Current Assets 7,196.2 5,053.5 5,745.5 Cash and Investments 29,046.5 19,511.4 19,056.7 Other Current Assets 45,206.5 36,616.7 36,451.5
Slide 41: Fact Sheet
Fact Sheet 40 © 2026 Persistent Systems
Slide 42: Fact Sheet
Fact Sheet Q3FY26 Q2FY26 Q1FY26 Q4FY25 Q3FY25 FY25 FY24 Revenue from Operations, $M 422.5 406.2 389.7 375.2 360.2 1,409.1 1,186.0 % QoQ growth 4.0% 4.2% 3.9% 4.2% 4.3% % QoQ growth 4.1% 4.4% 3.3% 4.5% 4.6% (constant currency) Revenue % YoY growth 17.3% 17.6% 18.8% 20.7% 19.9% 18.8% 14.5% Revenue fro
Slide 43: Fact Sheet
Fact Sheet Q3FY26 Q2FY26 Q1FY26 Q4FY25 Q3FY25 FY25 FY24 BFSI 35.0% 34.8% 33.9% 32.3% 31.7% 31.6% 31.9% Segment Healthcare & Life Sciences 25.4% 25.2% 25.3% 26.8% 27.8% 27.3% 21.0% Revenue Mix Software, Hi-Tech & Emerging 39.6% 40.0% 40.8% 40.9% 40.5% 41.1% 47.1% Industries Total 100.0% 100.0% 100.0%
Slide 44: Fact Sheet
Fact Sheet Q3FY26 Q2FY26 Q1FY26 Q4FY25 Q3FY25 FY25 FY24 Hedges Outstanding Hedges ($M) 490 475 440 300 300 300 260 Rates (₹/$) 89.1 87.8 86.9 86.3 85.3 86.3 84.2 Q3FY26 Q2FY26 Q1FY26 Q4FY25 Q3FY25 FY25 FY24 Top 5 32.9% 32.9% 31.8% 32.7% 30.8% 31.3% 27.7% Revenue Top 10 43.7% 43.2% 42.0% 42.2% 40.0%
Slide 45: Fact Sheet
Fact Sheet Q3FY26 Q2FY26 Q1FY26 Q4FY25 Q3FY25 FY25 FY24 Technical 25,077 24,608 23,787 23,072 22,407 23,072 22,224 People Sales and Business Development 520 510 496 485 489 485 484 Numbers Others 1,114 1,106 1,057 1,037 1,046 1,037 1,142 Total 26,711 26,224 25,340 24,594 23,941 24,594 23,850 Q3FY26
Slide 46: Persistent
f Persistent