Full Year Results (Presentation) - (15.05.26)

12 months ended 31st March 2026

Brendan Mooney (CEO)

Richard McCann (CFO)

18 May 2026

1. Our Business

2. Divisional Performance

3. Financial Performance

4. Outlook

5. Q&A

For more information visit

kainos.com/investor-relations

3

CAGR

11%

CAGR

27%

We have established positions in long-term, growing markets

MARKET

£1.7b

£106m

£112m

MARKET

£1.9b

£45m

£57m

£71m

MARKET

£3.2b

CAGR

5%

FY22 FY23 FY24 FY25 FY26

Workday Products

We develop software products that

complement Workday's comprehensive SaaS

platform

Our five products - Employee Document Management, Pay Transparency, Smart Test, Smart Audit and Smart Shield - safeguard and extend the capabilities of Workday systems for c.700 global customers

FY22 FY23 FY24 FY25 FY26

Workday Services

We are one of Workday's leading services partners, accredited to deploy their Finance, HR and Planning products to clients in Europe and North America

We are trusted by customers to

deliver complex deployments and integrations, and to evolve their Workday systems over time

FY22 FY23 FY24 FY25 FY26

Digital Services

We design, build and run digital services for public sector, healthcare and commercial customers, with the UK as our largest market and international expansion underway

Our AI and Cloud-led services deliver outcomes that are secure, accessible and cost-effective

5

Charts depict actual revenue over the five years, FY22 to FY26, and CAGR is calculated over the same time period

6

Workday Products

+15%

FY26: £82m

FY25: £71m

Workday Services

+9%

FY26: £108m

FY25: £99m

Revenue(1)

+17%

FY26: £431m

FY25: £367m

Digital Services

+23%

FY26: £242

FY25: £197m

Strong growth with record revenue, bookings and contracted backlog, maintaining momentum into FY27

• Short-term use of contractors and supply partners to support growth has moderated margins

• Strong ARR growth keeps us on track for £100m target

• AI revenue of £46m, 19% of Digital Services revenue

  Adjusted Profit(2)

  +2%
  
  

  FY26: £67m

  FY25: £66m

  
  
  

  ARR(3)

  +23%

  FY26: £89m

  FY25: £73m

  Bookings

  +32%
  
  

  FY26: £505m

  FY25: £382m

  Backlog

  +18%
  
  

  FY26: £434m

  FY25: £368m

  Dividend

  +4%

  FY26: 29.6p per share

  FY25: 28.4p per share

  Cash Returned

  £90m
  
  

  From 11 November 2024

  to 15 May 2026

  
  
  

  (1 ) In constant currency, total revenue growth is +19 %; by division: Digital Services +23%, Workday Services +12% and Workday Products +19%

  7

  (2 ) In constant currency, adjusted profit increase is +5%.

  (3 ) In constant currency, ARR growth is +24%

  Our Customers

  Established customer base, diversified by sector and growing internationally

  New Customers 14%

  Existing Customers 86%

  Health Sector 18%

  Private Sector 47%

  Public Sector 35%

  Central Europe 9%

  North America 32%

  UK & Ireland 59%

  High customer satisfaction

  Customer satisfaction remains 'excellent'(1) (NPS of 61), driving longterm relationships and 86% of revenue from exist ing customers

  Added 150+ clients - creates future multi-year revenue opportunities

  Balanced sector coverage

  Private sector accounts for 47% of revenue, public sector 35% and healthcare 18%

  1,250+ customers across these sectors create a diversified, resilient revenue base

  Strong global footprint

  International customers generated £177m, representing 41% of total revenue

  Growth in all regions:

• UK: +17%

• North America: +20%

• Central Europe(2): +11%

8

(1 ) Net Promoter Score (NPS). Bain & Co, the creators of the metric, defined that a score above 0 is good; 20+ is favourable; 50+ is excellent and 80+ is world class

(2 ) Central Europe includes revenue for Rest of World (c.£5 m/year); it excludes revenues generated in Ireland

We are building an exceptionally talented and engaged workforce

%(3)

Central Europe

421

+0%

Asia

137 +34%

People

17 Global Locations Engagement

3,475

90%

Employee

Retention

(3)

+33%

7%

3,475

FY26

+21%

77%

#30

78%

Employee engagement

employee approval rating

(1 ) Contractors as a percentage of total staff numbers; bar represents actual number of contractors

(3 ) Total staff numbers, inclusive of contractors 9

(3 ) The percentages represent the change in staff numbers from the previous year

Being responsible towards our people, customers, communities and planet

Climate Action

Reducing our climate impact

Achieved near-term net zero targets -on schedule, through green energy and internal reductions

New HQ build is underway, designed to BREEAM Outstanding, the highest sustainability standard for water and low-carbon performance

Reduced inequalities

Removing barriers and widening access to opportunity

Improved representation and progression, with women making up 37% of colleagues globally (FY25: 36%)

Through our Network Groups and Disability Confident Leader status, we improved pathways into Kainos for people with disabilities and long-term conditions

Quality Education

Building current and future digital talent

Since 2015, we have engaged 14,000+ young people through our outreach activities (2025: 12,500+)

We prioritised early careers, welcoming 129 young people this year (2025: 121), including 13 to our award-winning Earn as Your Learn (EAYL) programme

10

ARR (1)

+23%

FY26: £89m

FY25: £73m

Revenue (1)(2)

+15%

FY26: £82m

FY25: £71m

Backlog

+20%

FY26: £179m

FY25: £149m

Strong ARR growth driven by full

product portfolio; Workday

'Clear Skies' partner programme

increases opportunity scope

ARR growth underpins £100m target

Won 100+ clients, expanded in 85+ existing clients

Revenue trend H1 / H2

CAGR(2)

27%

Senior team strengthened to drive £200m target

New divisional leader joins in June, with Marketing,

FY22 FY23

£14m

£21m

£18m

£24m

£32m

£45m

Product, Customer Success and Revenue leaders

already recruited

PTA: 30+ customers added through Workday resell Legislative slippage in some EU countries extending opportunity window into 2028

FY24 FY25 FY26

£27m

£34m

£39m

£31m

£37m

£43m

£57m

£71m

£82m

Continued growth investment: +16% to £37m

R&D investment +11% to £19m (fully expensed)

Market size

Estimated FY27 addressable global market

Employee Document Management (£60 0m)

Smart product suite (£1 ,00 0m)

Sales investment +21% to £19m(3)

£1.9bn

Pay Transparency (£ 300m) (new)

(FY26: £1.6bn)

(1 ) In constant currency, Revenue grew 19%, ARR grew 24 %

(2 ) Five year CAGR, FY22 to FY26

(3 ) Includes £2.3m of additional costs associated with the Built on Workday partnership 12

Clear Skies

• Workday identifies opportunities to enhance its platform

• Ideas that Workday chooses not to pursue are made available to selected partners like Kainos

• Selected partners are empowered to innovate and deliver value in areas of white space - new apps, products and AI agents - to address

  Partner Build

  Workday Build

  Clear Sky / White Space

  Pure Partner Innovation

  Products

  Selective / Targeted

  Roadmap Backlog/MVP+

  No-Fly Scheduled Roadmap

  AI Apps

  AI Agents

  unmet customer needs

  Now Future

• Kainos is one of five partners chosen for Workday's Agent System of Record (ASOR), highlighting our leadership in this space

Innovation Pipeline

36 17 3 2

Source: Workday

3 2 1

Insight Filtering Validation Prototype Build

13 Kainos generated Workday sourced

Agentic versions of existing Kainos products

Skyscanner takes off with Kainos Smart Suite

"Before Smart Test, manual testing of Workday updates took six weeks. Now it takes six hours, with greater accuracy, broader coverage, and zero disruption"

Matt Fleming | Finance Systems Manager at Skyscanner

Improved compliance and risk reduction, removing reliance on external testers

Supports continued global expansion without cost growth

Highly scalable operating model, increasing team productivity

Skyscanner is a world leader in travel, with 160 million users across 30 markets every month. As the organisation scaled internationally, it needed to protect financial controls, reduce operational risk and maintain pace - without increasing cost or headcount.

With Kainos Smart Test, Smart Audit and Smart Shield, Skyscanner now has the automation to reduce operational effort by 97%, resulting in execution going from weeks to hours, freeing the lean team to focus on strategic system development and high-priority outputs.

14

Revenue(1)(2)

+9%

FY26: £108m

FY25: £99m

Bookings

+44%

FY26: £122m

FY25: £85m

Backlog

+26%

FY26: £75m

FY25: £59m

Return to growth driven by

record bookings;

H2-weighted bookings

underpin FY27

Focus on complex deployments delivers high-quality bookings

20+ $multi-million+ contracts signed, double FY25

Increase in more predictable, resilient revenue Fixed-fee engagements now 37% of revenue, up from 30%; annuity-style arrangements increasing

Own-product consulting: accelerating opportunity Consulting on Pay Transparency and Employee Document Management to double in FY27

Revenue trend H1 / H2

FY22 FY23 FY24 FY25 FY26

£71m

CAGR(2)

19%

£106m

£112m

£99m

£108m

Workday AI Centre of Excellence established Drives customer AI adoption; identifies agentic revenue opportunities for Kainos

Market size

£1.7bn

Estimated FY27 addressable global market

Phase 1 Phase X

App Managed Services (FY26: £1.7bn)

(1 ) In constant currency, growth is 12 %.

15

(2 ) Includes EDM Consulting revenues of £3.1m now reported in Workday Services; in FY25 £1 .5m was reported in

Workday Products revenue

(3 ) Five year CAGR, FY21 to FY25

Global Payroll Transformation & Optimisation

"We needed an implementation partner with a strong regional footprint who could truly understand what EMEA meant for our global footprint,"

Global Payroll Director| Trimble

Trimble, a global tech firm with 12,000+ employees in 40+ countries, faced payroll and time management challenges due to fragmented systems and manual processes.

To support its "Connect and Scale" strategy, Trimble teamed with Kainos to implement Workday as a centralised HR and payroll platform, automating tasks and providing real-time, accurate data.

Deployed across 47 countries, the solution standardised global processes while ensuring compliance with local regulations. Workday's flexibility and Kainos' expertise improved governance, efficiency, and decision-making, laying a scalable foundation for future AI and automation.

16

Strong sales execution drives record revenue, bookings, backlog; record backlog underpins FY27

Revenue +23%, with H2 accelerating +33% on H1 Public: £136m (+11%) Canada: £20m(3) (+126%)

Health: £75m (+55%) Commercial: £11m (-41%)

Revenue(1)

+23%

FY26: £242m

FY25: £197m

Bookings

+29%

FY26: £261m

FY25: £202m

Backlog

+13%

FY26: £180m

FY25: £160m

Revenue trend H1|H2

FY22 FY23

£200m

CAGR(2)

5%

£224m

Public and Health sectors: demand stabilising Departments signing larger, multi-year contracts, often under a single prime contractor

Increase in more predictable, resilient revenue

Fixed-price projects now 20% of revenue, from 14%

Canada

Kainos and Davis Pier teams are now fully

FY24 FY25 FY26

Market size

Actual FY26 digital spend in UK public sector, NHS

Central Government: £1 ,85 4m

£213m

£197m

£242m

integrated; the pace of the business remains strong

£3.2bn

Defence: £82 8m Police: £148m Health: £372m

(FY25: £3.2bn)

(1 ) In constant currency, growth is +23%.

(2 ) Five-year CAGR, FY22 to FY26.

(3 ) Revenue growth, excluding Davis Pier revenues is 75% 17

Bookings and backlog: considering move to industry-standard measures

Market evolution: longer and larger contracts Multi-year contracts now the norm in public sector procurements

Our historic policy understates wins on longer contracts Our conservative policy fit shorter contracts; on longer ones, contract value is understated in reported backlog

TCV: considering industry-standard recognition in FY27

Total Contract Value (TCV) - in line with sector peers

Illustrative: FY26 on the new basis

Backlog: £180m likely to increase to over £400m

Revenue recognition will be unchanged - bookings and backlog disclosure metric only

18

Powering Digital Support for Citizens in Crisis

150,000+ people supported across 7 countries

(in 3 weeks)

300 submissions per minute handled at peak

24 hours to stand up 7 countries, 24/7 support provided

When the Iran crisis began in February 2026, over 150,000 people in the Middle East requested support from the Foreign, Commonwealth and Development Office (FCDO).

Working with FCDO teams, Kainos deployed the digital support that enabled British citizens to register their location across the Middle East. The system was live in seven countries within 24 hours and was quickly followed by the evacuation sign-up service for UK government-chartered flights from Oman and UAE.

The services deployed underpinned the global consular teams' crisis response - enabling FCDO staff to prioritise support for the most vulnerable people and providing data insights to inform the Government's crisis response.

A dedicated team of 10 Kainos experts worked around the clock for three weeks to support

the live crisis response.

Kainos have partnered with FCDO for over nine years, supporting them in their mission to support British citizens abroad.

19

A decade of building, delivering and leading

MoD DDAP contract

2025

UK HSA AI Partner

contract

2024

DSTL (MoD) AI Partner contract

2022

NCA AI Partner

contract

2020

DVSA Fraud Detection

moves to production

2018

AI Practice established

2016

Market Opportunity

UK Government appetite and ambition is clear

Building blocks for success:

• Service redesign

• Data foundations

• Legacy integration

• Secure deployment

• AI assurance

• Live service operations

Despite ambition, adoption will be uneven - internal capability constraints and concerns over safety, security, cost and vendor lock-in

Internal Opportunity

HM Treasury Spending Review 2025

"The Spending Review sets out plans for a step change in investment in digital and artificial intelligence across public services...

An additional £1.2 billion will be provided across the Spending Review period to drive forward cross-cutting digital priorities."

Presented to Parliament

by Chancellor Rachel Reeves

11 June 2025

AI tooling has been deployed across the entire organisation

For engineering and deployment activities, the productivity gain is c.20%.

This gain allows us to:

• Build citizen- and patient-facing services faster

• Deploy Workday at greater

  pace

• Ship more features in every

  release of our products

• Embed AI into our products, enhancing their value to customers

Microsoft Service Partner of the Year (UK)

Data & AI Partner of the Year (Ireland)

Open AI Integration Partner

(1 ) UK Public Sector AI Procurement Tracker, published by market intelligence provider, Tussell,

updated on 04 November 20 25. (Report Link)

3 of 41 AI solutions available

on the Workday Marketplace

20

Premier Tier Partner 1% globally

22%

-0.7%

17.9%

21% 2.9%

20%

19%

-0.9% -0.2%

-0.3%

18%

17%

16%

15%

-2.3%

15.5%

-0.9%

14%

22

Revenue

• Public sector revenue up 11% to £136.0m

• Healthcare revenue up 55% to £74.9m

• Americas revenue up 127% (75% organic) to £20.2m

• Commercial sector revenue reduced 41% to £10.7m

  Gross margin

• Increased use of partners and contractors

• Increased Employer NIC rate

  Direct expenses

• Largely increased bonus costs

  
  
  

  23

  Workday Services

  £m	FY 26	FY 25	Change
  Revenue
  Services	103.6	95.0	9%
  Third party & other	4.0	3.7	8%
  Total revenue	107.6	98.7	9%
  Gross margin	49.3	51.1	(4%)
  Gross margin %	45.8%	51.7%	(5.9%)
  Direct expenses	(36.5)	(33.5)	9%
  Contribution	12.8	17.6	(27%)
  Contribution %	12%	18%	(6%)

  Revenue

  • Revenue growth 9% (ccy 12%)

  • Excluding EDM services growth is 6%

  • Americas revenue increased 12% to £56.4m

  • EMEA revenue reduced 1% to £47.4m

  • Rest of World (mainly APAC) grew from £0.4m to £3.8m

    Gross margin

  • EDM services transfer reduced margin by 1.9%

  • Increased Employer NIC rate

    Direct expenses

  • Increased bonus costs

    
    
    

    24

    Workday Products

    £m	FY 26	FY 25	Change
    Revenue
    Services	2.2	4.1	(46%)
    Subscriptions	79.5	67.3	18%
    Total revenue	81.7	71.3	15%
    Gross margin	63.6	53.1	20%
    Gross margin %	77.8%	74.4%	3.4%
    Direct expenses	(40.0)	(33.6)	19%
    Contribution	23.6	19.5	21%
    Contribution %	29%	27%	2%

    Revenue

  • Strong revenue growth of 15% (19% ccy)

  • Growth excluding EDM services transfer was 18%

    ARR

  • Very strong growth of 23% to £89.0m (24% ccy)

    Gross margin

  • Increased by 3% as a result of EDM services transfer

    Direct expenses

  • Product development increased 11% to £18.7m

  • First full year of Built on Workday costs +£2.3m to £7.5m

    
    
    

    25

    Group Income Statement

    Income Statement

    Central overheads/net finance income:

    £m	FY 26	FY 25	Change
    Revenue	431.1	367.2	17%
    Gross profit	198.9	175.9	13%
    Direct expenses	(106.9)	(88.7)	21%
    Contribution	92.0	87.3	5%
    Central overheads (inc. depn., finance income/expense)	(25.0)	(21.6)	16%
    Adjusted pre-tax profit	67.1	65.6	2%
    Adjusted pre-tax profit margin	16%	18%	(2)%
    Adjusting items (SBP, acquisition costs)	(9.0)	(17.0)	(47%)
    Profit before tax	58.1	48.6	19%
    Taxation	(15.6)	(13.1)	19%
    Profit after tax	42.5	35.6	19%

    • Central overheads (inc. depn.) increased 2%

    • Net finance income decreased 45%

      • Reduced funds on deposit due to share buyback

      • Lower interest rates

        Adjusting items

    • FY25 restructuring costs £8.4m

      Effective Tax Rate 27% (FY 25: 27%)

    • Impact of higher tax rates in US

    • Non-deductible acquisition expenses in Canada

26

Balance Sheet:

• Fixed assets includes £5.9m Bankmore expenditure in period

• Goodwill & intangible - £12.9m increase due to Davis Pier acquisition

• Underlying trade receivables/WIP

  • Increase driven by Q4 growth of 35%

  • Lock in days 64 days (FY25: 57 days)

• Other liabilities

  • Increase in bonus accrual

  • Increased contractor and partner accruals

    Cashflow £m		FY 26	FY 25
    EBITDA(2)		68.3	64.2
    Cash generated by operating activities		67.4	71.8
    Cash Conversion		99%	112%
    Taxation		(9.7)	(13.0)
    Capital expenditure		(8.0)	(3.4)
    Proceeds from sale of property		0.1	6.2
    Acquisitions of subsidiaries		(7.9)	-
    Payment of lease liabilities and interest		(1.2)	(1.1)
    Share buyback		(55.7)	(22.6)
    Interest paid		(0.4)	(0.3)
    Dividends paid		(34.6)	(35.7)
    Interest received		3.5	6.0
    Amounts placed on treasury deposit		(0.8)	(1.0)
    Proceeds from issue of shares		1.2	0.1
    	Net cash (outflow)/inflow	(46.1)	7.0

  • Increased Corporation Tax/VAT liabilities

    Cashflow:

• Cash conversion(1) 99% (FY 25: 112%)

• Share buyback costs £55.7m during the year (FY25: £22.6m)

• Future HQ property estimated £27m spend in FY27

(1 ) Cashflow from Operations (CFFO) divided by adjusted EBITDA

(2 ) EBITDA adjusted for share-based payments and acquisition related expenses 27

Focused on investing for growth, minimising risk and maximising ROI

Growing the business

• Organically

• Targeted acquisitions

  Progressive dividend policy

• Total dividend 29.6p (FY25: 28.4p)

  Concluded share buyback

• £90m returned to shareholders

• Cash reserves retained for:

  • Bankmore expenditure

  • Growth in working capital

  • Capacity for targeted M&A

    Maintaining a robust balance sheet

• Cash reserves £89.1m

• Debt free

28

Strong near-term momentum, clear medium-term opportunity

Medium-term: Opportunity

Near-term: FY27 Priorities

Foundations: FY26 Performance

Powerful structural drivers remain in all three markets as customers deploy technology to improve services and competitiveness

AI is increasing the speed and scope of what we do for our customers, widening the opportunity

Medium term growth is supported by ARR scaling, international expansion, increased product mix and rising AI adoption

Continued momentum in Workday Products: achieve £100m ARR target

Further growth in Digital Services: UK public sector and health; Canada expansion

Continued progress in Workday Services, including own-product services

Growing co league capacity in delivery, reducing contractor mix

30

BOOKINGS: +32%

£505m

BACKLOG: +18%

£434m

ARR: +19%

£89m

REVENUE: +17%

£431m

ADJ PROFIT: +2%

£67m

PEOPLE: +21%

3,475

Active customer: a customer who has signed a contract with us within the last three

months or has generated revenue in the last six months.

Adjusted earnings per share (basic and diluted): adjusted profit after tax divided by the weighted average number of ordinary shares outstanding (basic) or weighted average number of ordinary shares outstanding after adjustment for the effects of all dilutive potential ordinary shares (diluted).

Adjusted EBITDA: adjusted pre-tax profit excluding interest, tax, depreciation of property, plant and equipment, and right-of-use assets, and amortisation of intangible assets.

Adjusted pre-tax profit: profit before tax excluding the effect of share-based payment expense, acquisition-related expenses including amortisation of acquired intangible assets and deferred consideration (including post combination remuneration expense).

Adjusted profit margin: adjusted profit as a percentage of revenue for the period.

Agentic AI: refers to intelligent systems that can autonomously plan, decide, and act to achieve defined goals, working across multiple steps and systems with minimal human intervention. These agents combine reasoning, learning, and action capabilities to deliver outcomes, not just insights, while operating within clear ethical, governance, and organisational boundaries.

Annual Recurring Revenue (ARR): the total of the annualised committed subscription value contracted at the end of the reporting period.

Bookings: the total value of sales contracted during the period.

Cash conversion: cash generated from operating activities as a percentage of

adjusted EBITDA.

Constant currency (ccy): excludes the effect of foreign currency exchange rate

fluctuations on period-on-period performance by translating the relevant prior period

figure at current period average exchange rates.

Contracted backlog: the value of contracted revenue that has yet to be recognised.

Compound annual growth rate (CAGR): annual growth rate over a specified

period of time.

Existing customer revenue: total revenue recognised from customers in the current

period who were also customers in the preceding year.

International revenue: total revenue derived from locations outside of UK and Ireland.

Net Promoter Score (NPS): a metric that organisations use to measure customer loyalty toward their brand, product or service, which can range from -100 to +100. Bain & Co, the creators of the metric, held that a score above 0 is good; 20+ is favourable; 50+ is excellent and 80+ is world-class.

Organic revenue: our revenues excluding revenue from acquisitions completed in the

current and comparative reporting periods.

Software as a service (SaaS): a software distribution model that delivers application programmes over the internet, with users typically accessing the programme through a web browser. Users pay an ongoing subscription to use the software rather than purchasing it once and installing it.

Science based targets initiative (SBTi): a target for reducing greenhouse gases and CO2

emissions which is aligned with the global effort to limit global warming to 1.5OC.

32

We have strong positions in growing, diverse, international markets

Digital Services

Drive digital transformation in UK public and health sectors

Expand in Canada public and health sectors leveraging Davis Pier expertise and our UK experience

Reset plan for UK commercial sector

Workday Services

Drive core existing markets and expand into international markets

Maximise delivery of Employee Document Management and Pay Transparency consulting services

Workday Products

Continue progress towards £100m and £200m ARR targets

Develop Pay Transparency under Workday resell arrangement

Increase cadence of new product launches

53