Cognizant Technology Solutions Corporation · NASDAQ:CTSH

Cognizant Technology Solutions — Investor Day (March 2025)

112 slides from Cognizant Technology Solutions's investor day presentation, Mar 25, 2025

Slide 2: Forward-looking statements
Forward-looking statements In this presentation and during the course of Cognizant’s Investor Day meeting, we may provide projections or make statements that constitute forward- looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, th
Slide 3: Agenda
Agenda Strategic vision Ravi Kumar S Platforms and engineering Prasad Sankaran and Vibha Rustagi Data and cloud Naveen Sharma Client perspective Amy Brady, CIO, KeyBank Agentic AI Babak Hodjat Break Markets: Americas Surya Gummadi Markets: EMEA Manoj Mehta Client perspective Paul Markovich, Presiden
Slide 4: Building momentum and leading in the next wave
Strategic vision Building momentum and leading in the next wave Ravi Kumar S CEO © 2025 Cognizant | Investor Day
Slide 5: Over 30 years, we built a heritage of innovation to engineer modern businesses
Over 30 years, we built a heritage of innovation to engineer modern businesses Enable enterprise clients to gain Sense competitive advantage Strong client relationships Incubate Deep industry, technology, Strengthen our clients, partners design and engineering expertise and employees Flexible co-cre
Slide 6: We are continuing our heritage of leading each tech wave
We are continuing our heritage of leading each tech wave Drove the Defined the Grew in the initial Slower growth Reinvigorated the company, wave wave wave during the wave built resilience and of application of social, mobility, of digital transformation of accelerated durability and invested to deve
Slide 7: Our 2023–2024 strategy had three imperatives
Our 2023–2024 strategy had three imperatives • Establish and stabilize leadership team 1 Become employer of choice • Reduce voluntary attrition substantially • Revive culture of grassroots innovation • Improve margin execution on large deals Optimize delivery • Restructure and streamline the organiz
Slide 8: The results of our strategy are tangible
The results of our strategy are tangible Leadership team TTM Returnees 1 Become 50 new VP+ leaders voluntary attrition ~14k Employee employer of choice -10 pts associates engagement (Q4’22–Q4’24) score Trained on AI Innovation ideas AI automation Optimize delivery 2 and operations ~230k employees 47
Slide 9: Successfully achieved our key imperatives
Successfully achieved our key imperatives 1 Become employer of choice Return to our winning heritage Optimize delivery Build resilience and durability 2 and operations Prepare to lead the next growth wave 3 Accelerate growth © 2025 Cognizant | Investor Day
Slide 10: We are well positioned to capture the massive opportunity in front of us
We are well positioned to capture the massive opportunity in front of us © 2025 Cognizant | Investor Day
Slide 11: The next wave of enterprise transformation is upon us
The next wave of enterprise transformation is upon us Artificial intelligence Enabling hyperproductivity Industrializing AI Agentifying the enterprise Embedded engineering “Phygital” product engineering Smart manufacturing Autonomous systems © 2025 Cognizant | Investor Day
Slide 12: We have invested heavily in both drivers
We have invested heavily in both drivers AI Embedded engineering AI labs Smart mobility labs Neuro® suite of platforms Industry 4.0 transformation “Last mile” infrastructure accelerators Embedded systems (Mobica and ESG Mobility) Multi-agent orchestration capabilities IT and OT convergence in manufa
Slide 13: An expansive multi-trillion-dollar market opportunity
An expansive multi-trillion-dollar market opportunity Est. TAM CAGR (2027) (2024–2027) Key drivers • Unlock of insourced spend Embedded engineering (ER&D ~$280B ~10% and IoT) • Increasing size and share of enterprise spend • Focus on the readiness of cloud and data Cloud and data infrastructure ~$84
Slide 14: Penetrating industries to capture embedded engineering opportunity
Penetrating industries to capture embedded engineering opportunity % of 2024 revenue Strategic acquisitions 30% Health Sciences Connected healthcare and medical device ecosystem 29% Financial Services Software-led fintech solutions 17% Comms, Media & Tech Network engineering and edge capabilities 24
Slide 15: We have a three-vector approach to AI
We have a three-vector approach to AI 1 1 Enabling hyperproductivity Now 2 Industrializing AI Now–2030+ 3 Agentifying the enterprise Now–2030+ 2 3 © 2025 Cognizant | Investor Day
Slide 16: Enabling hyperproductivity
Vector 1 Enabling hyperproductivity The opportunity Our actions • Built Cognizant FlowsourceTM, an AI-powered, unified full-stack platform for software engineering • Leveraged AI code-assist platforms for software development lifecycle ~$2 trillion Repurposed savings towards • Established KPI framew
Slide 17: Enabling hyperproductivity: the impact
Vector 1 Enabling hyperproductivity The impact Increasing velocity of AI hyperproductivity Trained on AI ~230k employees trained Gen AI 83% adoption index2 out of FTE releases 12k from AI and automation which Gen AI 37% scaling index2 out of client implementations1 Flowsource ~70 ~120 clients in eva
Slide 18: Industrializing AI: Localizing, customizing and integrating
Vector 2 Industrializing AI: Localizing, customizing and integrating The opportunity Our actions The impact Rebuilding the tech stack of yesterday Differentiated solutions for a to meet the AI demands of tomorrow heterogeneous landscape AI vector 2 adoption Create dynamic new experiences with Rewire
Slide 19: Industrializing AI: Localizing, customizing and integrating
Vector 2 Industrializing AI: Localizing, customizing and integrating Last-mile capabilities Our platforms Bridging the “last mile” gap utilizing Cognizant’s Building platforms to address enterprise heterogeneity and differentiated IP and platforms investing to strengthen capabilities at different le
Slide 20: Agentifying the enterprise
Vector 3 Agentifying the enterprise The opportunity Our actions Potential expansive and non-linear untapped TAM • Establishing a repeatable framework for identification and prioritization of the most attractive service pools • Reimagining enterprise processes with domain + tech + operations “Service
Slide 21: Agentifying the enterprise: sales example
Vector 3 Agentifying the enterprise Sales example: Redirecting ops spend to IT services spend Today Future Agentified labor pool Client sales staff Sales & Marketing $70–$100 IT services market $1 trillion billion Client marketing staff Sources: Cognizant estimates, Foundational Capital © 2025 Cogni
Slide 22: Agentifying the enterprise: art of the possible
Vector 3 Agentifying the enterprise Art of the possible—numerous opportunities to agentify across horizontals and verticals Horizontals Verticals Sales & Content Sales Proposal writing Campaign Claims Medical billing Prior Transcription Marketing creation enablement management Healthcare processing
Slide 23: Agentifying the enterprise: opportunity and early impact
Vector 3 Agentifying the enterprise The opportunity Examples of early impact Force multiplier unlocking untapped spend pools Agentic reporting solutions From IT spend… to labor pool spend R&D $50B $1.4T ~24% drafting time reduction in Insurance Sales & Marketing $70-100B $1.0T HR $18-29B $700B Agent
Slide 24: Cognizant's right to win in AI
Cognizant’s right to win in AI 1 Early "sensing" and investment 2 Platform approach 3 Intersection of tech, domain and operations Investing $1+ billion to position Developed vendor-agnostic and Reimagining "agentified workflows" ourselves to lead the AI wave interoperable Neuro suite of platforms wi
Slide 25: Our strategy is driving shareholder value
Our strategy is driving shareholder value © 2025 Cognizant | Investor Day
Slide 26: Winner's circle by 2027
Evolution of our strategic imperatives 2025+ initiatives • Sense and scale skills of the future 1 Amplify talent • Expand learning infrastructure and programs • Enhance the employee value proposition • Scale platforms for the AI era Winner’s circle 2 Scale innovation • Invest in IP and thought leade
Slide 27: Our path to the winner's circle
Our path to the winner’s circle What this looks like Winner’s circle • Top-tier revenue growth • Gain market share • Sustain large deal momentum • Skilling for the future Revenue growth rank 6th • Gradual margin expansion vs. peers1,2 8th • EPS growth > revenue growth 10th 2022 2023 2024 2025 2026 2
Slide 28: Driving long-term shareholder value
Driving long-term shareholder value Top-tier revenue growth by Annual adjusted operating 90%–100% annual free cash 2027, driven by organic revenue margin expansion of 10–30 flow2 conversion supporting growth1,2 bps, supports EPS growth balanced capital allocation rate above revenue2 1 Peer group inc
Slide 29: Agenda
Agenda Strategic vision Ravi Kumar S Platforms and engineering Prasad Sankaran and Vibha Rustagi Data and cloud Naveen Sharma Client perspective Amy Brady, CIO, KeyBank Agentic AI Babak Hodjat Break Markets: Americas Surya Gummadi Markets: EMEA Manoj Mehta Client perspective Paul Markovich, Presiden
Slide 30: Platforms and engineering
Platforms and engineering Prasad Sankaran President, Software and Platform Engineering Vibha Rustagi SVP, Global Practice Head IoT, Industry 4.0 and Engineering © 2025 Cognizant | Investor Day
Slide 31: Platforms differentiate our services by enabling hyperproductivity
Platforms differentiate our services by enabling hyperproductivity Enterprises struggle to keep pace The complexity is in the “last mile” Platforms help our clients with technology bridge the gap We identify “last mile” challenges that can Implementation complexity Pace of AI development be addresse
Slide 32: Our platforms optimize IT spend, transform client IT estates and power innovation
Our platforms optimize IT spend, transform client IT estates and power innovation Modernize Cognizant SkygradeTM Cognizant IgnitionTM Legacy Modern technology technology Innovate Cognizant FlowsourceTM Cognizant Neuro® AI Cognizant Neuro AI Engineering Cognizant Neuro Edge Platforms specialized for
Slide 33: Flowsource: Our unified full-stack platform for software engineering
Platform example Flowsource: Our unified full-stack platform for software engineering Improves developer productivity and software quality by simplifying adoption of gen AI-powered tools in a single collaborative interface Features Integrated development workflow Benefits 20%–50% productivity Busine
Slide 34: Our clients have adopted our platforms with strong results
Our clients have adopted our platforms with strong results Media client Healthcare payer client Telecommunications client Cognizant Neuro IT Operations Cognizant Skygrade Cognizant Flowsource 40% cost savings in run IT ops 30% lower costs in migrating COBOL to Java 40% reduction in time to market 92
Slide 36: Our global engineering services enable our clients to innovate and compete
Our global engineering services enable our clients to innovate and compete Software engineering Engineering and IoT Custom software for enterprises Intelligent, connected, autonomous Design and build Test Run Engineering research and development Digital engineering Quality Application Products engin
Slide 37: Our differentiated approach to engineering
Our differentiated approach to engineering Global footprint Platforms Three-shore delivery model: deployed across a three-shore delivery model in 45 Delivering non-linear productivity through AI and automation countries 80k+ offshore Modern talent approach 30k+ onshore Modern New talent AI-proficien
Slide 38: Digital engineering enables businesses to compete more effectively
Digital engineering enables businesses to compete more effectively Outcome- driven New digital Legacy applications modernization Agile AI-infused Creates and evolves digital, AI-infused applications, Modernizes legacy applications from monolithic to scaling them with fast time-to-value modern archit
Slide 39: We successfully powered the digital transformation for a leading bank
We successfully powered the digital transformation for a leading bank Initial client ask Expanded client relationship Mainframe application modernization Additional projects Reimagine the end-to-end user Digital transformation experience across multiple customer-facing banking Product strategy Reima
Slide 41: Advanced engineering and IoT are central to the next wave
Advanced engineering and IoT are central to the next wave Build Make Connect Service Sensors, actuators Embedded systems Factory automation and Edge and connectivity IoT platform Smart buildings and machines and devices operations management enablement and applications and geospatial © 2025 Cognizan
Slide 42: A large and growing market opportunity
A large and growing market opportunity Large, growing market ~$280B in 2027 | ~10% CAGR with distinct buyer groups % of spend by horizontals % of spend by industries Embedded and firmware Automotive 20% 58% engineering Silicon/Hi-tech 18% Manufacturing engineering 17% Industrials 13% Hardware and me
Slide 43: Differentiated capabilities enable us to deliver cutting-edge solutions
Differentiated capabilities enable us to deliver cutting-edge solutions across high- growth industries Smart Intelligent automotive Intelligent Spaces, sustainability and products and mobility operations geosolutions Design, build, innovate and Design, build and validate software Modernize, maintain
Slide 44: Delivering transformative value to our clients across offering portfolio
Delivering transformative value to our clients across offering portfolio Smart Intelligent automotive Intelligent Spaces, sustainability and products and mobility operations geosolutions Global technology leader in European auto OEM in Global paper and packaging Leading global electrification and au
Slide 45: Our platforms, accelerators and solutions
Our platforms, accelerators and solutions Neuro Edge Digital twin LLM @ Edge Factory advisor Gen AI avatar © 2025 Cognizant | Investor Day
Slide 46: Our right to win with scale, deep expertise and differentiated capabilities
Our right to win with scale, deep expertise and differentiated capabilities Industry-specific GTM Specialized engineering Global network of labs and Strategic M&A investments Robust IP, assets and offerings aligned with talent pool distributed "phygital” infrastructure to strengthen our value proces
Slide 47: Platforms and engineering are central to the next wave of transformation
Platforms and engineering Our differentiated platforms and engineering allow us to deliver Platforms and cutting edge solutions for clients, scale AI adoption and infuse AI services engineering are central Cognizant platforms enable hyperproductivity and bridge the last mile gap to the next wave of
Slide 48: Data and cloud
Data and cloud Naveen Sharma SVP, Global Practice Head of Data, AI and Analytics © 2025 Cognizant | Investor Day
Slide 49: The data and cloud services opportunity is large, and we are well positioned
The data and cloud services opportunity is large, and we are well positioned to capture it with our scale and differentiation Opportunity Our differentiation ~$840B 8% Industry focus and incumbency • 120+ hyperscaler-ready horizontal and industry-specific solutions for faster time-to-value data and
Slide 50: Enabling the three vectors of AI will require a new technology stack
Enabling the three vectors of AI will require a new technology stack with data and cloud as the foundation Rewired experience 1 1 Enabling hyperproductivity Now Retooled/expanded engagement modalities (e.g., voice, image) with software Multi-agent orchestration 2 Industrializing AI Intelligent orche
Slide 51: Our broad offerings enable enterprises to become AI-native
Our broad offerings enable enterprises to become AI-native Enterprise data Scalable foundation Data foundation Enable to cloud Build and maintenance of traditional data ecosystems Advise, design, migrate and modernize the cloud journey Data & AI management Enable for cloud Enable secure, efficient a
Slide 52: We have 120+ hyperscaler-ready plug and play solutions
We have 120+ hyperscaler-ready plug and play solutions for faster time-to-value Shared Investigator OrderServ 2.0® Appeals and APEX Cognizant Ignition Platform grievances handling with gen AI Streamlines trial Solutions for Decipher intent of Solution for accelerated A suite of patented tools activi
Slide 53: Cognizant Ignition
Platform example Cognizant Ignition A suite of intelligent tools and frameworks to modernize data and business intelligence platforms with accuracy, consistency and agility in a cost-effective way Features Benefits Suite of intelligent tools and frameworks Increased efficiency across the data modern
Slide 54: We are executing several priorities to position us for the future
Accordingly, we are executing several priorities to position us for the future 1 Strengthening our partnerships ecosystem and joint offerings portfolio 2 Upskilling talent and accelerated research 3 Incubated platforms robust MS Fabric modernization Cognizant Ignition BI modernization to MS Power BI
Slide 55: We helped an antiviral drug company pivot to AI-first transformation
We recently helped a company that researches and develops antiviral drugs pivot to AI-first transformation Cloud Data Enterprise modernization modernization and agentic AI Leading Neuro® XT transformation Pharma 4.0 and Biologics 4.0 AI and gen AI roadmap biopharmaceutical Gen AI-driven engagement f
Slide 56: Breadth, scale and market recognition = our right to win
Breadth, scale and market recognition = our right to win Domain-specific Suite of AI-powered data DataOps and cloud cost AI-driven compliance solutions platforms modernization optimization Industry-tailored AI/ML Cognizant Neuro AI Cognizant Ignition Unified AI, DataOps and MLOps AI bias detection m
Slide 57: We have the scale and incumbency to capture the data and cloud opportunity
Data and cloud The data and cloud market is ~$840B in 2027 We have the scale and with 8% annual growth from 2024–2027 incumbency to capture Data and cloud are the foundation upon which enterprises can deliver on the AI opportunity the large data and cloud growth We are investing in partnerships, tal
Slide 58: Client perspective: Amy Brady, CIO, KeyBank
Surya Gummadi Amy Brady President, CIO, KeyBank Cognizant Americas 58 © 2025 Cognizant | Investor Day
Slide 59: Pioneering the future of enterprise with multi-agent AI
Pioneering the future of enterprise with multi-agent AI Babak Hodjat CTO AI © 2025 Cognizant | Investor Day
Slide 60: Cognizant is making significant investment in AI innovation and capabilities
Cognizant is making significant investment in AI innovation and capabilities AI capabilities and platforms Cognizant AI innovation studios Cognizant AI Research Lab • Multi-agent systems London + New York + San Francisco + Dallas San Francisco center + • Responsible AI + Amsterdam + Bangalore + Sydn
Slide 61: What is multi-agentic AI and how does it differ from traditional AI?
What is multi-agentic AI and how does it differ from traditional AI? Gen AI models Agents Multi-agent systems generate predictions do things work together Tools Text Text Memory Other agents Designing Testing agent agent Image Image Users Agent core Action Project Manager Video agent Video Goals Env
Slide 62: Multi-agentic AI brings in the next big wave of AI advancement
Multi-agentic AI brings in the next big wave of AI advancement “ Multiple agents can work toward a common goal that goes beyond the ability of individual agents. The combined application of multiple agents can tackle complex tasks that individual agents cannot, while creating more adaptable, scalabl
Slide 64: Cognizant provides end-to-end capabilities for multi-agentic enterprises
Cognizant provides end-to-end capabilities for multi-agentic enterprises Grounded foundations Custom UX Incremental expansion Neuro AI and Cognizant IgnitionTM Cognizant MomentTM Neuro AI Multi-Agent Accelerator Data, API/microservices, processes Entry point-agnostic, diversity Interoperability, dep
Slide 65: Cognizant is well positioned to lead enterprise (multi-) agentification
Cognizant is well positioned to lead enterprise (multi-) agentification ✓ We know clients’ workflows Agentification projects ✓ Our clients trust us and can own the IP ~100+ pilot programs ✓ Data and infrastructure prerequisites ✓ Platform-agnostic Agentic reporting solutions ✓ First-mover advantage
Slide 67: Markets: Americas
Markets: Americas Surya Gummadi President, Cognizant Americas © 2025 Cognizant | Investor Day
Slide 68: Americas represents 75% of Cognizant's business
Americas represents 75% of Cognizant’s business and we have built resilience by broadening our portfolio across industries $14.7B revenues in 2024 Healthcare Financial Services Products and CMT +3% growth YoY (35%) (28%) Resources (22%) (15%) Payer Banking Retail Communications 200,000+ associates P
Slide 69: Our progress over the last eight quarters has helped us return to top-tier growth
Our progress over the last eight quarters has helped us return to top-tier industry growth in Americas • Targeted domain offerings Outcomes Revamped GTM • Strategy and talent refresh • Focus on winning large deals Regained momentum in financial services Led with health sciences growth • Co-innovatio
Slide 70: We are now focused on five priorities to sustain our growth momentum
We are now focused on five priorities to sustain our growth momentum Convert AI Expand into Lead with industry Build on large and Position mindshare to market underpenetrated solutions and mega deals for GCCs share markets platforms Industry AI and agentic AI Aerospace & Defense, Energy Leverage dif
Slide 71: We are converting AI mindshare to market share
We are converting AI mindshare to market share The opportunity Our actions Outcomes Built and executing new AI GTM playbook 1 Enabling hyperproductivity New capabilities: Large deal success + growth + stable margin AI labs (57 patents), talent 2 Industrializing AI (20+ PhDs) and platforms (Neuro® su
Slide 72: We continue to differentiate with TriZetto and our other platforms
We continue to differentiate with TriZetto and our other platforms The opportunity Our actions Outcomes Expand into Provider (~30% of the Investing to infuse AI into our platforms TriZetto revenue ($B) platform business today) and become the (modernization, agentification) preferred payor-provider v
Slide 73: We are expanding our large deal momentum to focus on mega deals and GCCs
We are expanding our large deal momentum to focus on mega deals and capitalize on global capability centers (GCCs) The opportunity Our actions Outcomes The portion of large deals is increasing Built large deal infrastructure In 2024, we more than doubled the • Precision focus number of large deals i
Slide 74: We are investing to expand market share in underpenetrated markets
We are also investing to expand market share in underpenetrated markets TAM CAGR Key drivers Actions (2024–2027) Aerospace Need for ER&D capabilities and • Gained access through Belcan $37B 12% & Defense convergence of IT/OT • Joint GTM and partnerships • Partnerships and joint GTM to identify Key d
Slide 75: The Americas have led and will continue to lead our return to the Winner's Circle
The Americas The Americas represents ~75% of Cognizant’s business; we have built resilience by broadening our portfolio across industries The Americas have led and will continue to Our progress over the last eight quarters has helped us return to top-tier industry growth exiting 2024 lead our return
Slide 76: Markets: EMEA
Markets: EMEA Manoj Mehta President, Cognizant Europe, Middle East and Africa © 2025 Cognizant | Investor Day
Slide 77: EMEA market presents significant opportunity for Cognizant
EMEA market presents significant opportunity for Cognizant ~$400B market projected to grow at 6% CAGR Key trends driving the market opportunity 2024 to 2027 CAGR by region1 Technology modernization needs 6% CAGR Significant opportunities in areas like infrastructure modernization and security Northe
Slide 78: We are capitalizing on our key differentiators in focused regions and industries
We are capitalizing on our key differentiators in focused regions and industries, with results demonstrating our progress Key differentiators Results Clear focus on growth UK&I, Germany, Nordics, Middle East Renewal retention markets and industries P&R + Automotive, Banking, Consistently securing re
Slide 79: Several case studies illustrate our market momentum
Several case studies illustrate our market momentum Digital customer Modern airport Leading Accelerated s/w engagement operations German OEMdev and deployment Large deal win and first-generation Output-based work leveraging differentiated Leading ER&D work in automotive software modernization work i
Slide 80: EMEA is a growth market and Cognizant is strategically poised
EMEA Focused strategy and disciplined execution EMEA is a growth market and Unmatched client roster of leading firms Cognizant is strategically poised to take advantage of Global platform investments customized for EMEA the substantial opportunities Strong capabilities built through local investment
Slide 81: Client perspective: Paul Markovich, Ascendiun
Parent company of Ravi Kumar S Paul Markovich CEO, Cognizant President & CEO, Ascendiun 81 © 2025 Cognizant | Investor Day
Slide 82: Partnerships and alliances
Partnerships and alliances Sandra Notardonato Head of Global Partnership Development and Influencer Relations © 2025 Cognizant | Investor Day
Slide 83: Unlocking revenue growth and creating sustainable competitive advantage
Unlocking revenue growth and creating sustainable competitive advantage Partner value: Cognizant value: Market reach and position resulting in greater capture of Strategically evolved our partner organization from a traditional expanding enterprise spend and services attach rate support function int
Slide 84: Progress over the last two years in transforming our partner ecosystem
Progress over the last two years in transforming our partner ecosystem Increasing commercial momentum Scaling with our high-value Building a culture of innovation Broadening and diversifying through joint GTM partnerships capital our partner network • Improved sales execution through • Increased mar
Slide 85: Our partner strategy is driving measurable business impact
Our partner strategy is driving measurable business impact Funnel for demand Improving Transformational New revenue and lead generation win rates lighthouse deals streams Partner-supported deals are We are leveraging prescriptive, Integrating partners into our large Portfolio of co-developed solutio
Slide 86: Our heritage of continuous innovation can scale partnership impact
Our heritage of continuous innovation can scale partnership impact Sense Detect early signals Strengthen our partners, clients of value creation Incubate and talent pool Fund innovation Capture new waves of technology spend at scale Create sustainable competitive Scale advantage with centralized mod
Slide 87: Our partnerships will accelerate our return to the Winner's Circle
Partners Strategic transformation of our partner ecosystem is well underway and demonstrating value Our partnerships will accelerate our return Our partner framework supports continuous innovation, creating a sustainable revenue growth strategy to the Winner’s Circle Commercial momentum with partner
Slide 89: Cognizant has the talent for today and readiness for tomorrow
Cognizant has the talent for today and readiness for tomorrow Significant progress on becoming an employer of choice Differentiated employer brand and culture is behind our momentum Proactively sensing and reskilling to stay ahead Core sensing and learning ecosystem gives us an advantage as we navig
Slide 90: We are increasingly a talent magnet and recognized as an employer of choice
We are increasingly a talent magnet and recognized as an employer of choice Leading associate Strong Career engagement learning culture development above industry and with more than 275,000 upskilled in with 136,000 promoted in last three global benchmark 2024 years Increasing Attractive, hybrid Rei
Slide 91: We are preparing our workforce for the next wave
We are preparing our workforce for the next wave Cognizant’s talent model is built to In the future of work, Cognizant talent works alongside digital assets adapt to future needs Illustrative talent model AI-enabled workforce strategy Domain expert Data architect Domain knowledge and skills Data arc
Slide 92: Our future-ready talent strategy positions us to win
Our future-ready talent strategy positions us to win Learning engine Talent intelligence Growing our people Talent funnel Upskill at scale on gen AI Patent pending skilling Continuously expand Build a future workforce and future skills for all levels solution using gen AI breadth of experience with
Slide 93: We are ready for the future and leading the way for our clients
We are ready for the future and leading the way for our clients Our people have a Staying ahead of the future Delivering superior outcomes for winning combination with our talent approach clients Entrepreneurial and empowered Always sensing Anticipate needs Learning in our DNA Always upskilling Soug
Slide 95: Bringing it all together
Financials Bringing it all together Jatin Dalal Chief Financial Officer © 2025 Cognizant | Investor Day
Slide 96: Enhancing long-term value creation
Significant progress achieved • Bookings, revenue and margins Investing in breadth and depth of portfolio Enhancing long-term • Strengthened portfolio across capabilities and industries value creation Financial roadmap to drive shareholder value • Accelerate revenue growth • Expand margins and fund
Slide 97: We have taken strategic actions since 2022
We have taken strategic actions since 2022 Investments in talent, Built large deal Strengthened Completed NextGen to gen AI platforms and infrastructure partnerships become cost- inorganic capabilities and alliances competitive © 2025 Cognizant | Investor Day
Slide 98: We delivered strong bookings and large deal growth
We delivered strong bookings and large deal growth Bookings1 # of $100M+ TCV deals Book-to-bill1 35 $27.1B 1.4x 29 $24.1B 30 30% 25 >$50M 20% 20 17 1.2x 15 <$50M 10 5 0 2022 2024 2022 2024 2022 2024 1 See "About Non-GAAP Financial Measures and Performance Metrics" at the end of this presentation for
Slide 99: This has supported improved revenue growth over the last year
This has supported improved revenue growth over the last year Year-over-year revenue 6.7% Constant currency growth1 2.7% (0.5%) (1.2%) (2.4%) Organic Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 constant currency ~(3%) ~(2%) ~(1%) ~0.5% ~2% growth1 ~500 basis point improvement 1 See "About Non-GAAP Financial Measu
Slide 100: And delivered better profitability through NextGen and operational efficiency
And delivered better profitability through our NextGen program and operational efficiency Adjusted operating margin1 trend 15.7% 15.3% ✓ Reduced SG&A as % of revenue by 15.2% NextGen 15.1% 140 bps over last 2 years 14.6% Operational ✓ Reduced quarterly bench costs by excellence 30% YoY in Q4’24 Q1'2
Slide 101: While we invest in our capabilities and scale in attractive markets
While we invest in our capabilities and scale in attractive markets Enhanced capabilities Attractive end markets Capability Key initiatives Growth driver Cognizant mix (FY24) and select growth drivers (est. addressable market CAGR2) AI Launched AI Innovation Labs and Cognizant 3 vector 17% 30% Flows
Slide 102: Supported by strategic acquisitions to strengthen capabilities in high-growth areas
Supported by strategic acquisitions to strengthen capabilities in key high- growth areas We look for acquisitions that… … thereby contributing to our success • Advance our strategic priorities: capability, vertical, regional and talent ✓ Helping win large deals: Influenced a significant portion of $
Slide 103: This has put us on our path to returning to the winner's circle
This has put us on our path to returning to the winner’s circle What this looks like Winner’s circle • Top-tier revenue growth • Gain market share • Sustain large deal momentum • Skilling for the future Revenue growth rank 6th • Gradual margin expansion vs. peers1,2 8th • EPS growth > revenue growth
Slide 104: We expect to deliver 10 to 30 basis points of margin expansion annually
We expect to deliver 10 to 30 basis points of margin expansion annually Adjusted operating margin1 outlook Key margin drivers Pyramid Tooling and training for recent grads 10–30 bps annual optimization Improved utilization and role rotation margin expansion 15.5%–15.7% Evolving commercial model; inc
Slide 105: Maintaining a balanced capital allocation framework to support value creation
Maintaining a balanced capital allocation framework to support value creation Robust cash flow generation Expect to deploy ~100% of free cash flow 1 annually • Annual free cash flow1 target of 90% to 100% of net income 2 % of capital deployed • Strong balance sheet and low leverage provides financia
Slide 106: Driving long-term shareholder value
Driving long-term shareholder value Top-tier revenue growth Annual adjusted operating 90%–100% annual free cash by 2027, driven by margin expansion of 10–30 flow conversion2 supporting organic revenue growth1,2 bps, supports EPS growth balanced capital allocation above revenue2 1 Peer group includes
Slide 107: Investment highlights
Investment highlights Growing market Clear strategy Differentiated offerings Well positioned to capture We have a clear path to Our capabilities are differentiated multi-trillion-dollar market amplify talent, scale innovation across core industries, high- opportunity and accelerate growth growth seg
Slide 109: Appendix: About non-GAAP financial measures and performance metrics
Appendix: About non-GAAP financial measures and performance metrics © 2025 Cognizant | Investor Day
Slide 110: About non-GAAP financial measures and performance metrics
About non-GAAP financial measures and performance metrics Non-GAAP financial measures To supplement our financial results presented in accordance with GAAP, this presentation includes references to the following measures defined by the Securities and Exchange Commission as non-GAAP financial measure
Slide 111: Reconciliations of non-GAAP financial measures
Reconciliations of non-GAAP financial measures (in millions) Three months ended: Full year: Mar 31, Mar 31, Jun 30, Sep 30, Dec 31, Dec 31, Dec 31, 2023 2024 2024 2024 2024 2023 2024 Guidance full year 2025(1) GAAP income from operations $ 2,689 $ 2,892 NextGen charges(a) 229 134 Adjusted income fro
Slide 112: Reconciliations of non-GAAP financial measures
Reconciliations of non-GAAP financial measures Reconciliation of organic constant currency revenue growth Three months ended: Dec 31, Mar 31, Jun 30, Sep 30, Dec 31, 2023 2024 2024 2024 2024 Reported revenue growth (1.7%) (1.1%) (0.7%) 3.0% 6.8% Constant currency revenue growth (2.4%) (1.2%) (0.5%)

Cognizant Technology Solutions — Investor Day (March 2025) on 6ix

Cognizant Technology Solutions — Investor Day (March 2025)

Slide 1: Investor Day 2025

Slide 2: Forward-looking statements

Slide 3: Agenda

Slide 4: Building momentum and leading in the next wave

Slide 5: Over 30 years, we built a heritage of innovation to engineer modern businesses

Slide 6: We are continuing our heritage of leading each tech wave

Slide 7: Our 2023–2024 strategy had three imperatives

Slide 8: The results of our strategy are tangible

Slide 9: Successfully achieved our key imperatives

Slide 10: We are well positioned to capture the massive opportunity in front of us

Slide 11: The next wave of enterprise transformation is upon us

Slide 12: We have invested heavily in both drivers

Slide 13: An expansive multi-trillion-dollar market opportunity

Slide 14: Penetrating industries to capture embedded engineering opportunity

Slide 15: We have a three-vector approach to AI

Slide 16: Enabling hyperproductivity

Slide 17: Enabling hyperproductivity: the impact

Slide 18: Industrializing AI: Localizing, customizing and integrating

Slide 19: Industrializing AI: Localizing, customizing and integrating

Slide 20: Agentifying the enterprise

Slide 21: Agentifying the enterprise: sales example

Slide 22: Agentifying the enterprise: art of the possible

Slide 23: Agentifying the enterprise: opportunity and early impact

Slide 24: Cognizant's right to win in AI

Slide 25: Our strategy is driving shareholder value

Slide 26: Winner's circle by 2027

Slide 27: Our path to the winner's circle

Slide 28: Driving long-term shareholder value

Slide 29: Agenda

Slide 30: Platforms and engineering

Slide 31: Platforms differentiate our services by enabling hyperproductivity

Slide 32: Our platforms optimize IT spend, transform client IT estates and power innovation

Slide 33: Flowsource: Our unified full-stack platform for software engineering

Slide 34: Our clients have adopted our platforms with strong results

Slide 35: The engineering opportunity

Slide 36: Our global engineering services enable our clients to innovate and compete

Slide 37: Our differentiated approach to engineering

Slide 38: Digital engineering enables businesses to compete more effectively

Slide 39: We successfully powered the digital transformation for a leading bank

Slide 40: Engineering and IoT

Slide 41: Advanced engineering and IoT are central to the next wave

Slide 42: A large and growing market opportunity

Slide 43: Differentiated capabilities enable us to deliver cutting-edge solutions

Slide 44: Delivering transformative value to our clients across offering portfolio

Slide 45: Our platforms, accelerators and solutions

Slide 46: Our right to win with scale, deep expertise and differentiated capabilities

Slide 47: Platforms and engineering are central to the next wave of transformation

Slide 48: Data and cloud

Slide 49: The data and cloud services opportunity is large, and we are well positioned

Slide 50: Enabling the three vectors of AI will require a new technology stack

Slide 51: Our broad offerings enable enterprises to become AI-native

Slide 52: We have 120+ hyperscaler-ready plug and play solutions

Slide 53: Cognizant Ignition

Slide 54: We are executing several priorities to position us for the future

Slide 55: We helped an antiviral drug company pivot to AI-first transformation

Slide 56: Breadth, scale and market recognition = our right to win

Slide 57: We have the scale and incumbency to capture the data and cloud opportunity

Slide 58: Client perspective: Amy Brady, CIO, KeyBank

Slide 59: Pioneering the future of enterprise with multi-agent AI

Slide 60: Cognizant is making significant investment in AI innovation and capabilities

Slide 61: What is multi-agentic AI and how does it differ from traditional AI?

Slide 62: Multi-agentic AI brings in the next big wave of AI advancement

Slide 63: Cognizant Neuro AI

Slide 64: Cognizant provides end-to-end capabilities for multi-agentic enterprises

Slide 65: Cognizant is well positioned to lead enterprise (multi-) agentification

Slide 66: Break

Slide 67: Markets: Americas

Slide 68: Americas represents 75% of Cognizant's business

Slide 69: Our progress over the last eight quarters has helped us return to top-tier growth

Slide 70: We are now focused on five priorities to sustain our growth momentum

Slide 71: We are converting AI mindshare to market share

Slide 72: We continue to differentiate with TriZetto and our other platforms

Slide 73: We are expanding our large deal momentum to focus on mega deals and GCCs

Slide 74: We are investing to expand market share in underpenetrated markets

Slide 75: The Americas have led and will continue to lead our return to the Winner's Circle

Slide 76: Markets: EMEA

Slide 77: EMEA market presents significant opportunity for Cognizant

Slide 78: We are capitalizing on our key differentiators in focused regions and industries

Slide 79: Several case studies illustrate our market momentum