Onward Technologies Limited

28%

h & Development and Digital services Who we are • A diverse team of 3000+ employees • Delivered 28% y-o-y revenue growth in FY22 • 15 offices across 6 countries in USA, EU+UK, India Focused on enhanc

73%

ended R&D team for large companies • Geographical focus: USA, EU, UK • Top 25 clients contributing 73% of revenue in Q1 FY 2023 Geared for double-digit growth • Strong customer base, relationships

55%

utput and feedback to NPI programs Image processing and Image-based search Productivity doubled to 55% with 92% accuracy Product Re-design Value Engineering Business Issue A major healthcare facili

92%

d feedback to NPI programs Image processing and Image-based search Productivity doubled to 55% with 92% accuracy Product Re-design Value Engineering Business Issue A major healthcare facility was lo

7%

&D were impacted adversely due to the onset of COVID-19 pandemic. E R&D spend rebound in 2021 with 7% growth to reach USD 1.25 trillion The renewed interest in R&D led growth has shifted the focus on

827 Billion

ture prominently in the location strategies of companies to set up ER&D delivery centers. • At USD 827 Billion, businesses led E R&D spending accounted for two-third of total E R&D spend, with the spend in the

rs,

total E R&D spend, with the spend in the APAC region expected to exceed Europe over the next few years, facilitated by increasing spend from the public sector. • • • India continued among one of the l

41 Billion

f the leading E R&D sourcing destinations with the country’s E R&D sourcing market valued at USD 40-41 Billion in 2021. India accounted for a third of the global USD 120 Billion E R&D sourcing market. E R&D GC

120 Billion

sourcing market valued at USD 40-41 Billion in 2021. India accounted for a third of the global USD 120 Billion E R&D sourcing market. E R&D GCC’s have matured to drive end-to-end ownership for products. From e

42%

re technologies and domains such as AI/ML, IoT, automation and robotics. E R&D talent accounts for 42% of the 1.38 Mn GCC talent pool in India in 2021. • Not only did this sector emerge out of a negati

17%

merge out of a negative growth year (FY2021), but driven by pent-up demand, ER&D is likely to see ~17% revenue growth in FY2022, the most since FY2014 Source: Zinnov, Nasscom, Edelweiss Research, EY

20%

n 2021 Global ER&D Spend Expected future CAGR of 7% USD 41 Bn 1.4 Mn+ Indian ER&D Exports 18-20% share of Indian IT industry revenue ER&D employees 12-13% share of industry workforce +1,500 G

“Even as enterprises continue to balance the twin priorities of employee safety and wellness and enterprise digital transformation, they plan to spend big on digital – 60% companies plan 6% higher technology spend in FY2022.”

“Indian software industry body Nasscom forecasts 15-20% CAGR growth in digital transformation spend globally.”

Business Issue

2

Transformation from legacy to the NEW

1

Growth in revenue from

1

Reflects cost from

1

Valorem Advisors Disclaimer

1

Transformation from legacy to the NEW

Engineering, Research & Development and Digital services Who we are • A diverse team of 3000+ employees • Delivered 28% y-o-y revenue growth in FY22 • 15 offices across 6 countries in USA, EU+UK, India Focused on enhancing clients’ competitiveness, • total returns on R&D investments & time to market Global 2000 customers • A tech-partner positioned as an extended R&D team for large companies • Geographical focus: USA, EU, UK • Top 25 clients contributing 73% of revenue in Q1 FY 2023 Geared for double-digit growth • Strong customer base, relationships to fuel double digit growth in top-line • Margin expansion through India advantage (talent pyramid, costs) • Agile, flexible team capable of managing complex digital & engineering transformation projects Digital play across all lines of business • Digital Engineering and Outsourcing • Electronics and Embedded services • Mechanical Engineering Services HUNGER FOR EXCELLENCE CUSTOMER FIRST OUR VALUES RESPONSIVE 2 Focused industry verticals •

Reflects cost from

1) Digital Engineering & ER&D services + 2) Legacy business + 3) New business building blocks Multi-year client engagements Consistent industry- leading growth Steady growth in offshore leverage Business building costs International offices, Sales team expansion in USA & EU+UK, SME hiring to strengthen Delivery Investments in talent to address future client demand Proactive hiring engineering graduates (TAP) from top-tier institutes across the country 8 Customer Success Stories Global off-highway equipment manufacturer World’s largest construction equipment manufacturer Leading healthcare major Global transportation and locomotive company AWS Cloud Toolchest Platform Business Issue Multiple Web based applications for all platform services, most of them are microservices Challenge/s No single unified platform for multiple tools Not able to focus on core activities Services & Benefits Created web-based platform bridging applications & engineers Role based access control, single sign on,

Business Issue

Effort intensive and manual review of 2D & 3D drawings Challenge/s: Errors due to absence of intuitive & automated tools Services & Benefits: Designed and developed container-based architecture on the cloud ML model that could learn test cell output and feedback to NPI programs Image processing and Image-based search Productivity doubled to 55% with 92% accuracy Product Re-design Value Engineering Business Issue A major healthcare facility was looking to revamp and re-design their hospital beds Challenge/s Old Hospital beds were uncomfortable and posing risks to patients Services & Benefits Design specialists reverse engineered the entire hospital bed basis only photographs and w/o any CAD models/drawings Embedded new electronic parts to automate the bed for enhanced patient safety and comfort Compatible 3D printing designs developed for cost-effective production.

Business Issue

Steadily increasing costs to build a locomotive engine Challenge/s Too many parts and suppliers across the globe Services & Benefits Consulting led by domain experts in the manufacturing and design process Cost engineered the client’s entire diesel locomotive engine Also supported the client in finding low- cost vendors >$4 mn in overall cost savings 9 Life at Onward Tech Our team with a client in Illinois Our team with a client in Indiana Our team at the launch of TAP initiative Management team of our International Business Unit Our team at a supplier conference in USA OTL wins HR Award in Bengaluru: Sep 2022 10 Engineering R&D Service Industry • • • • The year 2021 paved way for an increased focus on ER&D function to drive solutions for challenges related to talent shortage, supply chain diversification, research to fuel growth and meeting rising consumer demand. The spend on ER&D from top 1,000 corporates increased significantly in 2021 which was a positive shift from 2020 when inve

Valorem Advisors Disclaimer

Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness, and reasonableness of the contents of this Presentation. This Presentation may not be all-inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review. For further details, please feel free to contact our Investor Relations Representatives: Mr. Anuj Sonpal Valorem Advisors Tel: +91-22-4903 9500 Email: