Larsen & Toubro Limited

rs,

sentoubro. corn SEC/PAM/2019 March 19, 2019 The Secretary BSE Limited Phiroze Jejeebhoy Towers, Dalal Street, MUMBAI - 400 001 STOCK CODE: 500510 National Stock Exchange Of India Limited Exch

20.32%

T to acquire significant interest in Mindtree in an all-cash transaction. 5 Purchase through SPA (20.32%) On Market Purchases (Upto 15%) Mandatory Tender Offer (Upto 31%) ▪ Total maximum acquisition co

15%

n Mindtree in an all-cash transaction. 5 Purchase through SPA (20.32%) On Market Purchases (Upto 15%) Mandatory Tender Offer (Upto 31%) ▪ Total maximum acquisition consideration of Rs 107.3 bn in ca

31%

on. 5 Purchase through SPA (20.32%) On Market Purchases (Upto 15%) Mandatory Tender Offer (Upto 31%) ▪ Total maximum acquisition consideration of Rs 107.3 bn in cash, including open offer. ▪ Tran

Rs 107.3

rchases (Upto 15%) Mandatory Tender Offer (Upto 31%) ▪ Total maximum acquisition consideration of Rs 107.3 bn in cash, including open offer. ▪ Transaction to be fully funded by L&T. ▪ Closing subject to

Rs 158.05

T services provider Key facts ▪ Established in 1999, with IPO in Feb 2007 ▪ Current Market cap of Rs 158.05 bn ▪ Known for strong customer satisfaction and corporate governance ▪ Strong partnerships: Microsof

63%

Mindtree has strong verticals and fast growing offerings Revenue Split (% of total)* Traditional 63% Digital 37% FY 2016 56% 44% FY 2018 Key strengths: ▪ ▪ ▪ Full suite of digital capabilit

37%

trong verticals and fast growing offerings Revenue Split (% of total)* Traditional 63% Digital 37% FY 2016 56% 44% FY 2018 Key strengths: ▪ ▪ ▪ Full suite of digital capabilities Top-tier

56%

ls and fast growing offerings Revenue Split (% of total)* Traditional 63% Digital 37% FY 2016 56% 44% FY 2018 Key strengths: ▪ ▪ ▪ Full suite of digital capabilities Top-tier clients Lar

44%

d fast growing offerings Revenue Split (% of total)* Traditional 63% Digital 37% FY 2016 56% 44% FY 2018 Key strengths: ▪ ▪ ▪ Full suite of digital capabilities Top-tier clients Large di

rs 51

frastructure Management (Incl. cloud operations) Package implementation Independent Testing Others 51 22 10 13 4 Key Financial Trends Revenues Rs Cr 28 3032 Mar-14 EBITDA Rs Cr 20 610 17

Mindtree Stake Acquisition

1

Key strengths

1

Mindtree Stake Acquisition

Scaling L&T’s IT Services Business March 2019 Sensitivity : This Document is Classified as "LNT Internal Use". 1 2 made in this presentation. L&T assume no obligation to update or alter forward-looking statements whether as a result of new information, future events or otherwise. Any forward-looking statements and projections made by third parties included in this presentation are not adopted by the Companies and the Companies are not responsible for such third party statements and projections. This presentation has been prepared based on information and data which L&T considers reliable and publicly available, but L&T makes no representation or warranty, express or implied, the truth, whatsoever, and no reliance shall be placed on, accuracy, completeness, 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 presenta

Key strengths

▪ ▪ ▪ Full suite of digital capabilities Top-tier clients Large digital talent pool Revenue by vertical (Trailing 4Q) (% of total)* Revenue by service line (Trailing 4Q) (% of total)* USD 963m USD 963m Hi-Tech & Media CPG, Retail & Manufacturing Banking, Financial Services & Insurance Travel and Hospitality 39 23 22 16 *Based on published quarterly result factsheet Sensitivity : This Document is Classified as "LNT Internal Use". Application Development & Maintenance (ADM) Infrastructure Management (Incl. cloud operations) Package implementation Independent Testing Others 51 22 10 13 4 Key Financial Trends Revenues Rs Cr 28 3032 Mar-14 EBITDA Rs Cr 20 610 17 3546 Mar-15 20 701 32 4673 Mar-16 18 826 8 Revenue Growth (%) 12 4 5236 Mar-17 14 717 5463 Mar-18 Margins (%) 14 741 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 PAT Rs Cr 15 14 12 451 Mar-14 532 Mar-15 554 Mar-16 7 416 Mar-17 Margins (%) 10 570 Mar-18 Based on published quarterly result factsheet Sensitivity : This Document is Classified as