Slide 1: Performance Update - Q4 FY26 and FY26
Performance Update - Q4 FY26 and FY26 May 11, 2026 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain statements in this presentation concerning our future growth prospects are forward-looking statements. These statements are subject to substantial known and unknown risks, uncertainties and other factors, which may cause actual results or outcomes to differ materially f
Slide 3: Financial Performance Q4 FY26
Financial Q4 FY26 Revenue ▲17% Performance Net Income ▲109% 3
Slide 4: Q4'26 Fractal Group: 109% increase in Net Income from Margin Expansion and Strong Revenue Growth
Q4’26 Fractal Group: 109% increase in Net Income from Margin Expansion and Strong Revenue Growth Growth Profitability Other highlights INR 8,863m▲17% YoY 1 48%▲47 bps YoY 6.6%▲141 bps YoY Revenue from operations Gross Margin R&D investments4 112% 81▲ 22%▲189 bps YoY INR 3,010m▲8% YoY Net Revenue Net
Slide 5: Q4'26 Fractal.ai: Existing clients continue to expand their relationships with us
Q4’26 Fractal.ai: Our existing clients continue to expand their relationships with us Net Revenue Retention (NRR) 6% 17% -1% 12% 112% Q4’26 Existing clients New clients Churn Growth% Net Revenue Retention (NRR) in our Fractal.ai segment measures how effectively we retain and expand revenue from our
Slide 6: Q4'26: Fractal continues to be one of the most respected brands in AI
Q4’26: Fractal continues to be one of the most respected brands in AI Industry-leading Net Promoter Score (NPS) 1 for Fractal.ai 81 Q4’26 ▲6 pts YoY 100 73 81 74 80 80 77 78 75 73 78 77 81 50 0 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 1 Net Promoter Score (NPS) is used
Slide 7: Q4'26 Fractal.ai: Diversified revenue base with robust growth across industries & geographies
Q4’26 Fractal.ai: We have a diversified revenue base, with robust growth across most industries & geographies Revenue by industry (Q4’26) – Fractal.ai Revenue by geography (Q4’26) – Fractal.ai Others YoY APAC & 7% YoY CPGR ▲11% Others, BFSI 13% 13% HLS ▲82% Americas ▲17% CPGR 37% TMT ▼ 19% Europe, E
Slide 8: Fractal Group: Sustained margin expansion across metrics
Fractal Group: Sustained margin expansion across metrics Q4’26 Gross Margin (INR Mn) +18% YoY ▲ Q4’26 Adjusted EBITDA (INR Mn) +28% YoY ▲ 1,959 4,274 4,800 50% 4,031 2,000 24% 4,300 49% 3,617 3,690 3,800 3,454 48% 1,531 1,521 22% 48% 22% 48% 1,500 3,300 47% 1,195 20% 2,800 47% 46% 20% 1,137 46% 18%
Slide 9: Fractal Group: Q4'26 Net Income at INR 1,158m, +109% growth YoY
Fractal Group: Q4’26 Net Income at INR 1,158m, +109% growth YoY All values in INR m, except % INR 1,158m 2.2% 13.1% 0.9% -0.1% 1.5% 0.4% 10.9% -1.1% INR 555m 1.4% 0.5% 7.3% Q4'25 Net Gross Margin SG&A, R&D ESOP & One Depreciation & Tax Exceptional Net income Operational PAT Other income Share of los
Slide 10: Financial Performance FY26
Financial FY26 Revenue ▲19% Performance Net Income ▲30% 10
Slide 11: FY26: Solid revenue and profitability expansion while scaling growth investments
FY26: Solid revenue and profitability expansion while scaling growth investments Growth Profitability Other highlights INR 32,997m▲19% YoY1 47%▲93 bps YoY 6.4%▲125 bps YoY Revenue from operations Gross Margin R&D investments4 117% 78▲ 18%▲18 bps YoY INR 4,090m▲3% YoY Net Revenue Net Promoter Cash fl
Slide 12: FY26 Fractal.ai: Existing clients continue to expand their relationships with us
FY26 Fractal.ai: Our existing clients continue to expand their relationships with us Net Revenue Retention (NRR) 4% 19% 17% -2% 117% FY26 Existing clients New clients Churn Growth% Net Revenue Retention (NRR) in our Fractal.ai segment measures how effectively we retain and expand revenue from our ex
Slide 13: FY26 Fractal.ai: Diversified revenue base with growth across industries & geographies
FY26 Fractal.ai: We have a diversified revenue base, with growth across most industries & geographies Revenue by industry (FY26) – Fractal.ai Revenue by geography (FY26) – Fractal.ai Others YoY APAC & 7% CPGR ▲12% Others, YoY BFSI 12.8% 12% TMT ▼ 1% Americas ▲20% CPGR 37% HLS ▲66% Europe, Europe ▲34
Slide 14: Fractal.ai: Growth in every bracket shows deepening client relationships
Fractal.ai: Growth in every bracket shows deepening client relationships Clients by Annual Revenue Contribution (Fractal.ai) FY2023 FY2024 FY2025 FY2026 Fractal has scaled >$1m 45 48 53 59 client relationships with significant of which, 19 >$5m 10 11 15 headroom for growth of which, >$10m 5 5 6 9 of
Slide 15: FY26 Fractal Alpha: Robust revenue growth with consistent improvement in profitability
FY26 Fractal Alpha: Robust revenue growth with consistent improvement in profitability All values in INR m, except % Revenue & Gross Margin Adjusted segment results 1,000 FY23 FY24 FY25 FY26 908 170% 900 800 CAGR: 69% 150% 644 700 130% 600 -146 110% 500 400 365 90% -257 70% 71% 63% 300 70% 200 190 4
Slide 16: Fractal Group: Net income grew by 30% YoY (+43% excl. associate)
Fractal Group: Net income grew by 30% YoY (+43% excl. associate) All values in INR m, except % 2.6% 0.2% 0.0% INR 2,868m INR 2,206m 9.7% 0.1% 0.9% -1.3% 8.7% 8.0% -1.1% -0.7% FY25 Net Gross Margin SG&A, R&D ESOP & One Depreciation & Tax Exceptional Net Income Operational PAT Other income Share of lo
Slide 17: Fractal Group: All-around profitability improvement
Fractal Group: All-around profitability improvement Gross Margin (INR m) +22% YoY ▲ Adjusted EBITDA (INR m) +21% YoY ▲ 7,000 18,000 5,812 49.0% 15,449 26.0% 6,000 16,000 4,821 48.0% 14,000 12,690 5,000 21.0% 47.0% 12,000 9,775 46.8% 4,000 16.0% 10,000 46.0% 17.4% 17.6% 8,000 45.9% 45.0% 3,000 2,321
Slide 18: Fractal Group: Improvement in Balance sheet and cashflow metrics
Fractal Group: Improvement in Balance sheet and cashflow metrics All values in INR m, except % Cash flow from operations Days of sales outstanding (DSO) Cash and cash equivalents 86 74 72 4,090 4,500 3,970 27 9,567 4,000 22 20 3,500 3,000 2,500 1,595 2,000 59 52 52 10,953 1,500 1,000 8,506 500 5,343
Slide 19: Corporate Overview
Corporate Overview 19
Slide 20: Fractal at a glance
We are We are a globally recognized pure-play enterprise AI company trusted by 100+ Fortune 500®-sized enterprises to power decision-making through AI services, solutions, and products, anchored by Cogentiq, our flagship agentic AI platform. Fractal at a glance 32,997 47% 9% 59 6.4% 5,868 68 +19% Yo
Slide 21: Three pillars. One platform. One Go To Market.
Three pillars. One platform. One Go To Market. Our client proposition is organized around three integrated AI pillars - interpreting the AI-native enterprise across people, process, and technology - all powered by Cogentiq. AI-led Transformation AI Foundations AI Work & Workforce AIT AIF AIW The Pro
Slide 22: Integrated, end-to-end AI capabilities
Integrated, end-to-end AI capabilities DOMAIN CAPABILITIES AI PRODUCTS AGENTIC AI Banking, Financial Services and Retail cogentiq Insurance Platform & Products SOLUTION TOWERS Consumer Packed Goods AIT AI-led Transformation GENERATIVE AI Healthcare & AIF Life Sciences AI Foundation CLIENT PRIORITIES
Slide 23: Pharma major sales representatives taking 3-4 days to respond to queries
AI-led Transformation AI Foundations AI Work & Workforce Sales representatives of a pharma major were taking 3-4 days to respond to queries from healthcare professionals (HCPs) Fractal built an agentic platform that accelerates accurate clinical response The platform provides “cited, confidence-scor
Slide 24: Data engineers at a global CPG major building each data pipeline
AI-led Transformation AI Foundations AI Work & Workforce Data engineers at a global CPG major were spending a day to build each data pipeline Fractal built an agentic AI engineering platform to cut build time by up to 75% Fractal’s platform automated pipeline design, development, deployment, testing
Slide 25: Top US healthcare payer with a very small central AI team
AI-led Transformation AI Foundations AI Work & Workforce A top US healthcare payer had a large software team and a very small central AI team Fractal built a workforce transformation program to dramatically increase AI fluency of the software team The program mapped healthcare-context AI delivery sk
Slide 26: Our strategy: How to win
Our strategy: How to win Accelerate this Help Must Win Partner with Continue to journey with Accelerate our Clients (MWCs1) winning AI build an AI- Cogentiq and success through transform their platform native “great other reusable M&A business with AI companies place to work” assets 1MWCs are define
Slide 27: Help MWCs transform their business with AI
1 2 3 4 5 Help MWCs1 transform their business with AI Help CXOs reimagine every workflow and business process with AI Help CIOs and CAIOs modernize tech and build an UK ontological layer on their data US Europe Middle East Help CLOs and CHROs reimagine work and upskill workforce with AI Australia Bu
Slide 28: Accelerate client success with Cogentiq and reusable assets
1 2 3 4 5 Accelerate client success with Cogentiq and reusable assets Reimagine service delivery with PiEvolve and Cogentiq Commercialize functional and vertical AI products on Cogentiq Demonstrate frontier AI results PiEvolve, Vaidya & India AI mission 28
Slide 29: Partner with leading technology companies
1 2 3 4 5 Partner with leading technology companies Partners Build relationships with partner teams in our mutual A clients/customers and leverage partner resources to enhance client acquisition, expansion and lead generation Frontier AI Labs Incorporate existing partner offerings in our services an
Slide 30: Continue to build a Great Place to Work
1 2 3 4 5 Continue to build a Great Place to Work Hiring Principles Hire talent through robust & scalable channels Fractal First • Iqigai.ai: Our AI powered hiring Continuous learning and specialization All hires are for Fractal first, and assessment platform for our employees then for the specific
Slide 31: Complement our growth & expand capabilities inorganically
1 2 3 4 5 Complement our growth & expand capabilities inorganically Our acquisition principles CLIENT CENTRICITY Strengthen our client OPTIMIZE PROCESSES focus and our commitment to client De-risk the capital INTEGRATION centricity by allocation process and Collaborate with enhancing our existing OR
Slide 32: Capital structure: Strong balance sheet to fund future growth
Capital structure: Strong balance sheet to fund future growth INR 20,520m 70% Zero Cash and cash equivalents1 CFO as % of Adj. EBITDA Long term debt2 Positions us to move Strong cash conversion Creates significant faster, fund early-stage ensures self-funded headroom to fund bets, and accelerate gro
Slide 33: Fractal's ESG focus and milestones
Fractal’s ESG focus and milestones Environmental Sustainability Social Impact, Equity and Inclusion Key Governance Frameworks • Aiming for net zero emissions by or • Certified a Great Place to Work for • Strong IT systems that follow global before 2040 10 years in India (and multiple security standa
Slide 34: Cogentiq & Research
Fractal is building Cogentiq & leading Enterprise Research AI products 34
Slide 35: We are building breakthrough products powered by deep AI research
We are building breakthrough products powered by deep AI research Research and Development Our AI R&D is a key differentiator Fathom-R1-14B LRM Open-sourced AI for revenue growth management 6.4% Multi-modal reasoning PiEvolve evolutionary agentic medical model framework for machine learning of reven
Slide 36: Fractal unveiled intelligent sales agents to accelerate B2B growth
Fractal unveiled intelligent sales agents to accelerate B2B growth Flyfish.ai deploys 35+ coordinated AI agents across the sales lifecycle, helping early enterprise adopters close deals up to 30% faster and improve sales productivity by 42%. 36
Slide 37: AutoGrader by Analytics Vidhya Enterprise
AutoGrader by CODE QUALITY DOMAIN UNDERSTANDING Analytics Vidhya Code Quality Agent Concept Mastery Evaluates readability, modularity, Assesses how well the learner applies naming, complexity and adherence to domain concepts and reasoning to the coding standards. problem. A multi-agentic system that
Slide 38: Asper RGM Vision: AI-native operating system for CPG commercial planning
Asper RGM Vision: Be the most trusted, AI-native operating system for CPG commercial planning & execution CPG planning cycle Holistic & Integrated Intelligence + Planning Sales, CS/CI, RGM, Finance, Demand Planning Annual RGM Levers Planning Planning / Decisions (Scenario /Optimization) Target Setti
Slide 39: Qure.ai | TIME100 Most Influential Companies 2025
Qure.ai | TIME100 Most Influential Companies 2025 AI analysis of routine chest X-rays identifies high-risk lung Healthcare Centers cancer cases often missed by standard screening criteria Provides a scalable, equitable pathway for early lung 23 cancer diagnosis, especially in healthcare systems wher
Slide 40: Fractal enables PiEvolve for everyone at Fractal
Fractal enables PiEvolve for everyone at Fractal... 1 PiEvolve released to all Fractalites. Teams can now request for licences and install it to be leveraged in their project / client work. Certification and onboarding program is currently being designed and will be rolled out to drive further adopt
Slide 41: Vaidya 2.0 available with new features for all
Vaidya 2.0 available with new features for all Vaidya 2.0 is available on all major Mobile API access to the Vaidya model is platforms and integrates seamlessly with also offered, with flexible pricing a wide range of health devices. options available. AI CHAT · PDF · IMAGES MEDIVAULT WELLNESS ENGIN
Slide 42: Awards and Recognition
Awards and Recognition 42
Slide 43: HC Leadership Awards 2026
HC Leadership Awards 2026 ET Human Capital Awards HR Leadership Awards GOLD Excellence in HR Data Analytics SILVER Excellence in use of Generative AI for HRM BRONZE Excellence in Organizational Development 43
Slide 44: Fractal course 'AI for Karmayogis' crossed 2.5 million completions
Fractal course 'AI for Karmayogis’ crossed 2.5 million completions by government learners Karmayogi Bharat is a Government of India initiative that runs the iGOT platform - a learning system delivering self-paced learning to 14 million civil service professionals across India. 44
Slide 45: 'Leader' in Generative AI and Data Science Services by AIM
‘Leader’ in Generative AI and Data Science Services by Analytics India Magazine (AIM) For 4 years in a row For 6 years in a row 45
Slide 46: Srikanth appointed Chairperson of NASSCOM
Srikanth appointed Chairperson of NASSCOM “I take on this role with a healthy respect for what lies ahead. AI progress is opening new ways for enterprises, large and small, to reimagine how they operate. Our focus will be to help drive the next phase of AI-led growth across services and products, an
Slide 47: Thank you
Thank you For more details on our performance, prefer refer to the Shareholders’ letter and results at https://fractal.ai/investor-relations Investor Relations Contact Phone: +91 22 6850 5800 Email: investorrelations@fractal.ai 47
Slide 48: Shareholding
Shareholding Weighted avg. Cash inflow on Category Count strike price exercise (INR Mn) Outstanding shares 171,965,112 ESOP 2007 & 2019 13,751,583 455 6,258 MIP Time based 2,635,235 205 540 MIP Performance based 9,787,517 199 1,950 Fully diluted shares* 198,139,447 8,749 *Excludes reserved, not gran