INFOSYS LTD.

0.6%

g us. Warm wishes to you for the new year. We had a strong performance in Q3. Our revenues grew 0.6% sequentially and 1.7% year-on-year in constant currency terms. Our large deals were at $4.8 bn wi

1.7%

you for the new year. We had a strong performance in Q3. Our revenues grew 0.6% sequentially and 1.7% year-on-year in constant currency terms. Our large deals were at $4.8 bn with 57% net new. This w

57%

quentially and 1.7% year-on-year in constant currency terms. Our large deals were at $4.8 bn with 57% net new. This was across 26 deals. Our adjusted operating margin was 21.2%. We generated free cas

21.2%

als were at $4.8 bn with 57% net new. This was across 26 deals. Our adjusted operating margin was 21.2%. We generated free cash flow of $915 mn. One of the most significant large deals we won was with

90%

oss 12 ratings. We had strong momentum in AI adoption across our client base. Today, we work with 90% of our 200 largest clients to unlock value with AI. We are currently working on 4,600 AI projects

3%

venue guidance for the financial year. The new revenue growth guidance for this financial year is 3% to 3.5% growth in constant currency. Our operating margin guidance for the financial year remains

3.5%

guidance for the financial year. The new revenue growth guidance for this financial year is 3% to 3.5% growth in constant currency. Our operating margin guidance for the financial year remains the sam

20%

th in constant currency. Our operating margin guidance for the financial year remains the same at 20% to 22%. With that, let me hand it over to Jayesh for his update. Jayesh Sanghrajka Thank you,

22%

onstant currency. Our operating margin guidance for the financial year remains the same at 20% to 22%. With that, let me hand it over to Jayesh for his update. Jayesh Sanghrajka Thank you, Salil.

rs,

g to the quarter, our Q3 performance demonstrates continued momentum we saw in the last two quarters, underscoring resilience of our business model, relevance of our offerings and our disciplined exec

18.4%

onstant currency terms. Operating margins including the impact of change in labor codes stands at 18.4%, adjusting for the same, it is at 21.2%. Key highlights of the quarter are as follows: 1. We

0.3%

espite seasonality and lower third-party costs. Third-party as a percentage of revenue reduced by 0.3% sequentially and approximately 2.4% on a year- on-year basis. 2. With three strong quarters of p

“Our adjusted margins for 9 months are at 21% at midpoint of guidance after absorbing accelerated investment in sales and marketing as well as lower utilization.”

“On-site mix further reduced by 10 basis points in Q3 and by 70 basis points in 9 months FY'26.”

“Total large deal TCV for 9 months stood at $11.7 bn, exceeding the total large deal TCV of full year FY'25.”

“Adjusted EPS in rupee terms for 9 months FY'26 grew at double digits at 11.5%.”

“We also paid out interim dividend for FY'26 in line with our capital allocation policy.”

“Uptick in discretionary spend in aforementioned sub-verticals and deal wins in recent quarters positions us favorably for better growth in FY'27.”

“We are seeing an increase in discretionary demand in Utilities and Energy, which should lead to growth acceleration in FY'27.”

“Strong year-to-date performance and robust deal wins have enabled us to revise our revenue guidance for FY'26 upward to 3% to 3.5%.”

“Our operating margin guidance remains at 20% to 22%.”

“Salil Parekh External Document © 2026 Infosys Limited 7 So first, on what we are seeing in terms of the momentum and the deals, all of that has led to the increase in the guidance keeping in mind the overall picture.”

Key highlights of the quarter are as follows

1

Key highlights of the quarter are as follows

1. We achieved strong revenue growth despite seasonality and lower third-party costs. Third-party as a percentage of revenue reduced by 0.3% sequentially and approximately 2.4% on a year- on-year basis. 2. With three strong quarters of performance, our revenue growth in 9 months stood at 2.8%, which is at the higher end of our earlier guided range. This is despite the lower third party, which has reduced by approximately 1% compared to the same period last year and now stands at 7.3%. 3. Momentum in Financial Services continues with 3.9% year-on-year growth in constant currency terms. 4. Among geos, Europe continued to lead the growth by 7.2% year-on-year in constant currency terms. 5. Volumes continue to remain soft for the quarter and the year. External Document © 2026 Infosys Limited 4 6. On a 9-month basis, RPP increased, reflecting continued momentum of value-based selling and productivity increases that we have achieved. 7. Adjusted operating margins increased by 20 basis points