Slide 1: Investor Presentation
Investor Presentation October 2025 © 2025 Persistent Systems
Slide 2: 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 3: We are Persistent
We are Persistent AI-led, Platform-driven Digital Engineering & Enterprise Modernization partner $406.2M 16.3% 13.2% FY26 Q2 Revenue EBIT Margin PAT Margin +17.6% YoY +43.7% YoY +45.1% YoY $1,531.3M $1,611.6M $8.5B* TTM Revenue TTM ACV Bookings Market Capitalization +19.2% YoY 1 USD = INR 88.78 | *
Slide 4: 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 services strategy o Strong First Orbit 2008 – 2016 positioning o New growth vectors at the intersection
Slide 5: Powered by our 26,000+ employees spread across the globe
…powered by our 26,000+ 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 3,048 308 22,690 178 Employees Empl
Slide 6: 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 7: 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 8: We continue to build on our long-term growth journey
We continue to build on our long-term growth journey… Revenue in $M 1,625 17.4% 25.6% Revenue CAGR 4-Year Revenue CAGR 1,409 From IPO to FY25 between FY21 and FY25 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 9: Sequential revenue growth over the last 22 quarters
…with sequential revenue growth over the last 22 quarters… Revenue in $M 406.2 389.7 375.2 360.2 345.5 328.2 310.9 282.9 291.7 300.6 274.6 255.6 264.4 241.5 217.3 199.1 182.3 166.8 146.2 152.8 131.0 136.1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY21 FY21 FY21 FY21 FY22 FY22
Slide 10: Delivering sustained, profitable growth
…while delivering sustained, profitable growth Quarterly Revenue ($M), % QoQ and % YoY Growth EBIT and PAT Margin % 406.2 389.7 375.2 16.3% 15.6% 15.5% 360.2 14.9% 345.5 14.5% 14.5% 14.0% 14.0% 328.2 tY1 42 310.9 0ll 13.2% 300.6 eX! 12.7% $ 12.2% 12.2% 12.2% 11.5% 11.2% 11.2% Q3FY24 Q4FY24 Q1FY25 Q2
Slide 11: 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 162.3 141.4 102.5 11.8% 6.3% 2.4% -0.5% 3.2% 9.7% 14.1% 15.5% 8.8% 7.6% 7.3% 15.3% 22.0% 26.6% 30.7% 30
Slide 12: 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 56 56 55 43.2% 47 41.5% 42.2% 42.0% 41.5% 43 40.0% 40.0% 41 39.5% 40 39 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY24
Slide 13: 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% 92 86 105.3% 98.6% 81 76 75 80.7% 84.4% 68 64 58 56 54 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q3 FY25 Q4 FY25 Q1FY26 Q2FY26 Days Billed Incl. Unbilled Re
Slide 14: Industry-leading, long-term shareholder value
…resulting in industry-leading, long-term shareholder value Persistent Total Shareholder Return Persistent 1-Year Stock Performance -11.5% 1 year return 0.6% 197.6% - 4.6% 3 year return 5.3% - 11.5% - 19.8% 5 year return 619.1% 16.6% Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Persistent NIFTY IT NIFTY 50 Sh
Slide 15: Ecosystem Orchestrator of Choice
We are the “Ecosystem Orchestrator of Choice” for our customers Solutions Partner in 5 areas* Premier Partner Premier Partner Global Summit Partner 7,030+ Certifications 2,290+ Certifications 1,820+ Certifications 10,930+ Certifications Platinum Partner Premier Partner Select Partner 1,020+ Certific
Slide 16: Established and operationalized our 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 o
Slide 17: Accelerating AI adoption for enterprise-wide transformation
…and are now accelerating its adoption to drive 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 Dri
Slide 18: Powered by 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 19: 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 20: Impact on our people and communities
…enabling us to make a meaningful impact on our people and communities Environment For the second year in a row, we achieved carbon neutrality for Scope 1 and Scope 2 emissions 62.7% 35,795 35% 99% Electricity sourced from Trees planted, taking the overall Of treated wastewater in owned campuses Was
Slide 21: Performance Highlights
Performance Highlights 21 © 2025 Persistent Systems
Slide 22: Sandeep Kalra
“We are pleased to report our 22nd sequential quarter of revenue growth, up 4.2% Q-o-Q and 17.6% Y-o-Y, with operating margin rising to 16.3%. Driven by the continued trust of our clients, this performance reflects our commitment to impactful transformation and execution excellence. Our AI strategy
Slide 23: Q2 FY26: Financial Highlights
Q2 FY26: Financial Highlights Revenue ($ million) 4.2% QoQ 17.6% YoY Revenue (₹ million) 7.4% QoQ 23.6% YoY 406.2 389.7 35,807.2 345.5 33,335.9 28,971.5 Q2FY25 Q1FY26 Q2FY26 Q2FY25 Q1FY26 Q2FY26 EBIT (₹ million) 12.7% QoQ 43.7% YoY PAT (₹ million) 11.0% QoQ 45.1% YoY 5,837.4 4,714.7 5,178.1 4,249.4
Slide 24: Q2 FY26: TCV and ACV Bookings
Q2 FY26: TCV and ACV Bookings Trailing Twelve Month TCV* $2,241.6M Trailing Twelve Month TCV (New) $1,350.4M 609.2 594.1 350.8 333.6 329.0 337.0 517.5 520.8 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Quarterly TCV ($M) Quarterly TCV ($M) Trailing Twelve Month ACV* $1,611.6M Trailing Twe
Slide 25: Q2 FY26: TTM Performance
Q2 FY26: TTM Performance Revenue ($ million) 19.2% Revenue (₹ million) 23.3% 1,531.3 132,187.0 1,285.1 107,230.6 TTM Q2FY25 TTM Q2FY26 TTM Q2FY25 TTM Q2FY26 EBIT (₹ million) 35.0% PAT (₹ million) 35.1% 20,625.7 16,651.6 15,278.0 12,328.7 Margin % 14.2% 15.6% Margin % 11.5% 12.6% TTM Q2FY25 TTM Q2FY2
Slide 26: Q2 FY26: Key Wins
Q2 FY26: Key Wins Software, Hi-Tech & Banking, Financial Healthcare Emerging Industries Services & Insurance & Life Sciences Accelerating strategic pivot through 360° Enhancing customer experience and Driving deeper engagement with collaboration and go-to-market partnership to driving business growt
Slide 27: Notable News and Achievements
Notable News and Achievements 27 © 2025 Persistent Systems
Slide 28: ISG Customer Experience Star Performer Awards
We won multiple ISG Customer Experience (CX) Star Performer Awards based on voice of our customers Testament to Our Focus on Client Satisfaction and Deep Domain Expertise “I want to extend my congratulations to Persistent for an outstanding year in delivering exceptional client experiences. For the
Slide 29: Growth Honor of the Year at Everest Group Elevate 2025
We received ‘Growth Honor of the Year’ at Everest Group Elevate 2025… Acknowledgement of our Consistent Growth and Strong Financial Performance We were recognized for: o Market-leading organic, constant-currency revenue growth among publicly listed global service providers o Performance merit, under
Slide 30: AI excellence awards at National AI Awards 2025
We were awarded for AI excellence at the National AI Awards 2025 by the Confederation of Indian Industry (CII) Honored for Innovative, Outcome- driven and Scalable AI Solutions Persistent won two prestigious awards from CII for AI Excellence for Most Innovative Practice: o Best Industry Application,
Slide 31: Future-ready, high-performing talent ecosystem
We were commended for building a future-ready, high-performing talent ecosystem Cited as a Leader in the Recognized as one of Everest Group Talent America’s Greatest Readiness for Next- Workplaces in Tech generation Cloud Services 2025 by Newsweek and PEAK Matrix® Assessment Plant-A Insights Group 2
Slide 32: Launched first Experience Transformation Studio
We launched our first Experience Transformation Studio to scale AI-powered, immersive experiences From Vision to Value: A Co-innovation Hub to Re(AI)magine User Journeys o The Experience Transformation (XT) Studio is a purpose- built space designed to inspire and accelerate AI-powered transformation
Slide 33: Jaideep Vijay Dhok elevated as Chief Operating Officer – Technology
We elevated Jaideep Vijay Dhok as Chief Operating Officer – Technology Enterprise Transformation Leader, with Experience Scaling Businesses and Driving Growth o More than 23 years of experience in Banking, Financial Services and Insurance industry segment and horizontal technologies; over 14 years a
Slide 34: Financial Details
Financial Details 34 © 2025 Persistent Systems
Slide 35: Sequential Q2 FY26 vs Q1 FY26
Sequential Q2 FY26 vs Q1 FY26 % of Sales % of Sales Particulars (₹ M, unless otherwise stated) Q2FY26 Q1FY26 Change QoQ Q2FY26 Q1FY26 Revenue ($ M) 406.2 389.7 4.2% Avg. Exchange Rate ₹ / US$ 88.2 85.5 3.1% Revenue (₹ M) 35,807.2 33,335.9 7.4% Total Direct costs 22,923.8 21,576.2 6.2% 64.0% 64.7% Gr
Slide 36: YoY Comparison: Q2 FY26 vs Q2 FY25
YoY Comparison: Q2 FY26 vs Q2 FY25 % of Sales % of Sales Particulars (₹ M, unless otherwise stated) Q2FY26 Q2FY25 Change YoY Q1FY26 Q2FY25 Revenue ($ M) 406.2 345.5 17.6% Avg. Exchange Rate ₹ / US$ 88.2 83.9 5.1% Revenue (₹ M) 35,807.2 28,971.5 23.6% Total Direct costs 22,923.8 19,294.0 18.8% 64.0%
Slide 37: YoY Comparison: H1 FY26 vs H1 FY25
YoY Comparison: H1 FY26 vs H1 FY25 % of Sales % of Sales Particulars (₹ M, unless otherwise stated) H1FY26 H1FY25 Change YoY H1FY26 H1FY25 Revenue ($ M) 795.9 673.7 18.1% Avg. Exchange Rate ₹ / US$ 86.9 83.6 3.9% Revenue (₹ M) 69,143.1 56,343.2 22.7% Total Direct costs 44,500.0 37,622.6 18.3% 64.4%
Slide 38: Balance Sheet
Balance Sheet As on As on As on Particulars (₹ M) September 30, 2025 March 31, 2025 September 30, 2024 Assets PPE and Intangible Assets 27,321.1 26,184.4 24,879.8 Non-Current Assets 6,139.2 5,053.5 4,243.9 Cash and Investments 24,957.2 19,511.4 17,916.2 Other Current Assets 40,534.7 36,616.7 35,750.
Slide 39: Fact Sheet
Fact Sheet 39 © 2025 Persistent Systems
Slide 40: Fact Sheet
Fact Sheet Q2FY26 Q1FY26 Q4FY25 Q3FY25 Q2FY25 FY25 FY24 Revenue from Operations, $M 406.2 389.7 375.2 360.2 345.5 1,409.1 1,186.0 % QoQ growth 4.2% 3.9% 4.2% 4.3% 5.3% % QoQ growth (constant 4.4% 3.3% 4.5% 4.6% 5.1% currency) Revenue % YoY growth 17.6% 18.8% 20.7% 19.9% 18.4% 18.8% 14.5% Revenue fro
Slide 41: Fact Sheet
Fact Sheet Q2FY26 Q1FY26 Q4FY25 Q3FY25 Q2FY25 FY25 FY24 BFSI 34.8% 33.9% 32.3% 31.7% 31.5% 31.6% 31.9% Segment Healthcare & Life Sciences 25.2% 25.3% 26.8% 27.8% 27.8% 27.3% 21.0% Revenue Mix Software, Hi-Tech & Emerging 40.0% 40.8% 40.9% 40.5% 40.7% 41.1% 47.1% Industries Total 100.0% 100.0% 100.0%
Slide 42: Fact Sheet
Fact Sheet Q2FY26 Q1FY26 Q4FY25 Q3FY25 Q2FY25 FY25 FY24 Hedges Outstanding Hedges ($M) 475 440 300 300 270 300 260 Rates (₹/$) 87.8 86.9 86.3 85.3 84.8 86.3 84.2 Q2FY26 Q1FY26 Q4FY25 Q3FY25 Q2FY25 FY25 FY24 Top 5 32.9% 31.8% 32.7% 30.8% 31.4% 31.3% 27.7% Revenue Top 10 43.2% 42.0% 42.2% 40.0% 41.5%
Slide 43: Fact Sheet
Fact Sheet Q2FY26 Q1FY26 Q4FY25 Q3FY25 Q2FY25 FY25 FY24 Technical 24,608 23,787 23,072 22,407 21,675 23,072 22,224 People Sales and Business Development 510 496 485 489 492 485 484 Numbers Others 1,106 1,057 1,037 1,046 1,070 1,037 1,142 Total 26,224 25,340 24,594 23,941 23,237 24,594 23,850 Q2FY26
Slide 44: Persistent
f Persistent