Onward Technologies Limited

76%

technology-partner positioned as an extended R&D team for large companies • Top 25 clients added 76% of revenue in H1 FY 2023 • 15 clients with annual billing run-rate of $1M or more Digital play acr

28%

to fuel double digit growth in top-line • Margin expansion through India advantage • Delivered 28% y-o-y revenue growth in FY22, 51% in Q2 FY2023 Industrial Equipment & Heavy Machine Focused ind

51%

p-line • Margin expansion through India advantage • Delivered 28% y-o-y revenue growth in FY22, 51% in Q2 FY2023 Industrial Equipment & Heavy Machine Focused industry verticals • • Transportation &

INR 1,101

Highlights Q2-FY23 Consolidated Financial Performance Q2-FY23 Standalone Financial Performance INR 1,101 Mn Revenue from Operations INR 32 Mn 2.91% EBITDA EBITDA Margins INR 768 Mn Revenue from Ope

INR 32

ncial Performance Q2-FY23 Standalone Financial Performance INR 1,101 Mn Revenue from Operations INR 32 Mn 2.91% EBITDA EBITDA Margins INR 768 Mn Revenue from Operations INR 33 Mn 4.30% EBITDA

2.91%

rmance Q2-FY23 Standalone Financial Performance INR 1,101 Mn Revenue from Operations INR 32 Mn 2.91% EBITDA EBITDA Margins INR 768 Mn Revenue from Operations INR 33 Mn 4.30% EBITDA EBITDA Ma

INR 768

cial Performance INR 1,101 Mn Revenue from Operations INR 32 Mn 2.91% EBITDA EBITDA Margins INR 768 Mn Revenue from Operations INR 33 Mn 4.30% EBITDA EBITDA Margins INR 6 Mn 0.54% INR 0.25/Sh

INR 33

e from Operations INR 32 Mn 2.91% EBITDA EBITDA Margins INR 768 Mn Revenue from Operations INR 33 Mn 4.30% EBITDA EBITDA Margins INR 6 Mn 0.54% INR 0.25/Share INR 12 Mn 1.56% INR 0.53/Shar

4.30%

rations INR 32 Mn 2.91% EBITDA EBITDA Margins INR 768 Mn Revenue from Operations INR 33 Mn 4.30% EBITDA EBITDA Margins INR 6 Mn 0.54% INR 0.25/Share INR 12 Mn 1.56% INR 0.53/Share PAT P

INR 6

DA EBITDA Margins INR 768 Mn Revenue from Operations INR 33 Mn 4.30% EBITDA EBITDA Margins INR 6 Mn 0.54% INR 0.25/Share INR 12 Mn 1.56% INR 0.53/Share PAT PAT Margins Diluted EPS PAT PAT

0.54%

Margins INR 768 Mn Revenue from Operations INR 33 Mn 4.30% EBITDA EBITDA Margins INR 6 Mn 0.54% INR 0.25/Share INR 12 Mn 1.56% INR 0.53/Share PAT PAT Margins Diluted EPS PAT PAT Margins

INR 0.25

s INR 768 Mn Revenue from Operations INR 33 Mn 4.30% EBITDA EBITDA Margins INR 6 Mn 0.54% INR 0.25/Share INR 12 Mn 1.56% INR 0.53/Share PAT PAT Margins Diluted EPS PAT PAT Margins Diluted E

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 • 15 offices across 6 countries in USA, EU+UK, India • Focused on enhancing clients’ competitiveness, Strong balance sheet • Net debt-free, sound balance sheet & cash reserves • 6-year track-record of consistent total returns on R&D investments & time to market dividend payout • Private equity investment by Infinity Direct Holdings Global 2000 customers • A technology-partner positioned as an extended R&D team for large companies • Top 25 clients added 76% of revenue in H1 FY 2023 • 15 clients with annual billing run-rate of $1M or more Digital play across all business lines • Digital Engineering & Outsourcing • Electronics & Embedded engineering services • Mechanical Engineering Services Geared for double-digit growth • Strong customer base, relationships to fuel double digit growth in top-line • Margin expansion through India advantage • Delivered 28% y-o-y revenue growth in FY22,

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 5 Strategic presence across geographies 1 4 5 6 7 3 2 8 12 10 9 11 1 2 3 4 5 6 7 8 9 10 11 12 D e t r o i t , M I C l e v e l a n d , O H C h i c a g o , I L T o r o n t o , O N L o n d o n , U K F r a n k f u r t , D E A m s t e r d a m , N L M u m b a i , I N ( C o r p o r a t e H Q ) P u n e ( 3 C O E s * ) C h e n n a i , I N B e n g a l u r u , I N H y d e r a b a d , I N *COE: Centre of excellence Q2/H1-FY23 FINANCIAL OVERVIEW 7 Q2/H1-FY23 Performance Highlights Q2-FY23 Consolidated Financial Performance Q2-FY23 Standalone Financial

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: