Mastek Limited

Rs 784.3 crore

ust. Value. Velocity. Press Release | Q3FY24 For Immediate Release Q3FY24 revenue at Rs 784.3 crore, up by 19.1% Y-o-Y • 12 months order backlog grew by 21.2% Y-o-Y in rupee terms • Operating EBI

19.1%

Press Release | Q3FY24 For Immediate Release Q3FY24 revenue at Rs 784.3 crore, up by 19.1% Y-o-Y • 12 months order backlog grew by 21.2% Y-o-Y in rupee terms • Operating EBITDA at 17.0%,

21.2%

e Release Q3FY24 revenue at Rs 784.3 crore, up by 19.1% Y-o-Y • 12 months order backlog grew by 21.2% Y-o-Y in rupee terms • Operating EBITDA at 17.0%, improved by 95bps Q-o-Q • Recommends Interim

17.0%

19.1% Y-o-Y • 12 months order backlog grew by 21.2% Y-o-Y in rupee terms • Operating EBITDA at 17.0%, improved by 95bps Q-o-Q • Recommends Interim Dividend of 140% Mumbai, India 18th January 2024:

95bps

months order backlog grew by 21.2% Y-o-Y in rupee terms • Operating EBITDA at 17.0%, improved by 95bps Q-o-Q • Recommends Interim Dividend of 140% Mumbai, India 18th January 2024: Mastek, a Turnkey

140%

pee terms • Operating EBITDA at 17.0%, improved by 95bps Q-o-Q • Recommends Interim Dividend of 140% Mumbai, India 18th January 2024: Mastek, a Turnkey & Trusted Digital Engineering & Cloud Transfo

17.4%

Executive Officer, Mastek, said: “We are pleased to report a steady quarter with revenue growth of 17.4% Y-o-Y in dollar terms. Our deal momentum is strong across geographies and our 12 months order book

20.5%

r terms. Our deal momentum is strong across geographies and our 12 months order book backlog grew 20.5% YOY in dollar terms, despite delayed client decisions. BizAnalytica acquisition is now completely

2.4%

garwal, Chief Financial Officer, Mastek, said: “We reported revenue of Rs 784.3 crore, a growth of 2.4% on a Q-o-Q basis and 19.1% on Y-o-Y basis in INR terms, in a seasonally weak quarter for the indus

Rs 7

ITDA margin to 17.0% in Q3FY24. Our Board of Directors has proposed an interim dividend of 140% or Rs 7 per share. Our disciplined execution, strong pipeline and enhanced client engagement gives us confi

1.6%

from Operations Q2FY24 Q-o-Q Growth Q3FY23 Y-o-Y Growth $92.6 Q3FY24 $94.0 17.4% $80.1 1.6% Figures in Rs Crore Total Income Revenue from Operations Operating EBITDA % of Op. Income Ne

9.9%

p. Income Net Profit Net Profit % EPS (Rs) – Diluted Q3FY24 787.6 784.3 133.5 17.0% 77.7 9.9% 24.3 Q2FY24 Q-o-Q Growth Q3FY23 Y-o-Y Growth 770.4 765.5 123.0 16.1% 65.3 8.5% 20.3 18.

“The Department will be able to make Asylum decisions faster and reduce existing backlogs.”

“• Mastek a trusted partner, for a member of one of the leading universities in the UK, received extension for an existing project originally signed in 2022 to transform the customer’s entire back office operations (41 disparate systems) to Oracle Cloud.”

“As a strategic partner, we guide their multi- year cloud strategy, aiming to elevate insights and execution capabilities.”

“The Department will be able to make Asylum decisions faster and reduce existing backlogs Mastek as a trusted partner received extension for an existing project originally signed in 2022 to transform the customer’s entire back office operations (41 disparate systems) to Oracle Cloud.”

“Through this engagement Mastek will maintain and enhance ServiceNow ITSM and CSM platforms, implement Integrated Risk Management (IRM), and construct a Social Hub Portal.”

“Second largest North American waste disposal company providing non- hazardous solid waste collection, waste transfer, waste disposal, recycling, and energy services A Saudi Arabian cement producer holding second largest producing capacity within the region About the deal Mastek will provide a Microsoft Azure Event Grid-based solution, aiming to consolidate and establish a single source of truth by imposing a set of business rules while entering data into the subsystem datasets for the customer.”

“Through this contract, the customer will be able to streamline their order management processes, analyze operational reporting and improve working capital.”

“The business objective of this project is to increase the speed of data processing for Asset managers.”

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1. Adjusted PAT for Q3FY24 was 11.2% vs 10.2% in Q2FY24, if normalized for PPA amortization from MST and BizAnalytica acquisition, fair valuation of earnout and one time acquisition cost 2. Revenue consolidated for BizAnalytica during Q3FY24 was Rs 35.8 Crore ($4.3mn) Figures in Rs Crores Total Income Revenue from Operations Operating EBITDA % of Op. Income Net Profit Net Profit % EPS (Rs) – Diluted ^Includes profit on sale of investment property partially offset by expense relating to business combination of MST consummated during the period Y-o-Y Growth 20.7% 22.7% 16.1% (96)bps (8.9)% (308)bps 9MFY23 1,892.9 1,854.2 330.3 17.8% 237.7^ 12.6%^ 71.9 9MFY24 2,285.6 2,275.1 383.6 16.9% 216.6 9.5% 67.3 Operating Highlights • New accounts added during the quarter: The Company added 27 new clients in Q3FY24. Total active clients during Q3FY24 was 436 as compared to 441 in Q2FY24. • 12 months Order Backlog: 12 months order backlog was Rs 2,067.6 crore ($248.5 mn) as on 31st December, 2023 as

Presented by

Hiral Chandrana | Chief Executive Officer, Mastek Arun Agarwal | Chief Financial Officer, Mastek Table of Contents 01 02 03 04 05 Highlights of the Quarter Financial & Operational Performance Key Wins for the Quarter Acquisition Update Strategic Priorities Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 2 HIGHLIGHTS OF THE QUARTER HIGHLIGHTS OF Q3FY24 Revenue Growth Year-on-Year 19.1% Op. EBITDA Growth Year-on-Year 17.4% 12month Order backlog Year-on-Year Growth 21.2% Q3FY24 revenue at ₹ 784.3 Crore Revenue grew by 2.4% QoQ Q3FY24 Op. EBITDA ₹ 133.5 Crore Op. EBITDA grew by 8.5% QoQ 17.0% of Revenue 12 Months Order backlog at ₹ 2,067.6 Crore 12 months order backlog grew by 11.1% QoQ Revenue consolidated for BizAnalytica during Q3FY24 was ₹ 35.8 Crore ($4.3mn) Declared Interim Dividend of 140% or Rs 7 per share Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 4 KEY ACHIEVEMENTS & RECOGNITIONS Na

Note

# Financial Services includes consultancy/ professional services Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 15 OPERATIONAL PERFORMANCE Revenue By Service Line Q3FY24 – Consolidated Q3FY24 43.2% 29.1% 18.1% 9.5% Digital & Application Engineering Oracle Cloud & Enterprise Apps Q2FY24 43.5% 30.5% 18.5% 7.5% Digital Commerce & Experience Data, Automation and AI Q3FY23 43.5% 29.2% 21.7% 5.6% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 16 KEY WINS FOR THE QUARTER KEY WINS FOR THE QUARTER UK & Europe UK & Europe Americas AMEA Government & Financial Services Client A ministerial department responsible for immigration, security, law & order A member of the UK’s prestigious Russell Group of leading universities, providing an exceptional research-led education for its 45,000+ students across the UK. American Fortune 500 financial services provider offe