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1Company Confidential © Mastek 2026. All rights reserved |Investor Presentation Q2FY27 Investor Presentation Q2FY27 23rd October 2026 Presented by: Umang Nahata | Chief Executive Officer, Mastek Group Deepak Kedia | Chief Financial Officer, Mastek Group
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2Company Confidential © Mastek 2026. All rights reserved |Investor Presentation Q2FY27 Agenda Highlights of the Quarter Financial & Operational Performance Annexures 01 02 03
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3Company Confidential © Mastek 2026. All rights reserved |Investor Presentation Q2FY27 Highlights Of The Quarter
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4Company Confidential © Mastek 2026. All rights reserved |Investor Presentation Q2FY27 Executive Summary $ 286.2 mn 12MONTH ORDER BACKLOG (7.7)% QoQ | 2.3% YoY in USD (6.6)% QoQ | 10.4% YoY in INR $ 107.3 mn Q2FY27 USD REVENUE 2.4% QoQ | (0.8)% YoY in USD 2.4% QoQ | (0.6)% YoY in CC 14.4 % Q2FY27 OP. EBITDA MARGIN (109) bps QoQ | (121) bps YoY ₹ 1,018.7 cr Q2FY27 INR REVENUE 3.4% QoQ | 8.3% YoY in INR Geo Performance Revenue Growth INR QoQ YoY UK & Europe +4.1% +14.0% North America +0.9% +1.3% AMEA +3.6% (7.8)% o Strong broad based revenue growth of 2.4% in CC with all geos growing QoQ; UK & Europe leading with 4.1% QoQ growth o Strong momentum in key verticals, sequential growth led by Financial Services (16.4%) and Government & Education (7.1%) o Strong deal momentum across geos, domain and service offerings including a double-digit win in North America o AI deals gaining traction; 53 new deals this quarter compared to 43 in the previous quarter including foray into cyber- security solutions o Geopolitical uncertainty continues in AMEA and NA
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5Company Confidential © Mastek 2026. All rights reserved |Investor Presentation Q2FY27 12 6 35 Geo Wise Q2FY27 Deals AMEA UK & EU US # in Q3’FY26 AI OB: 16.9m #AI Deals: 26 # in Q4’FY26 AI OB: 27.5m #AI Deals: 27 # in Q2’FY27 AI OB: 41.3m #AI Deals: 53 # in Q1’FY27 AI OB: 64.0m #AI Deals: 43 AI Foundation & Public Sector • Working with our clients in UK Public Sector to develop an AI native Transformative solution which will drive higher value to citizen services and meaningful efficiency gain to ease the growing pressure on government budget. • Early traction in public sector cyber security space. Healthcare & Life Sciences • Signed Partnership with Innovaccer, a market leader in contextual data in Healthcare and Lifesciences domain. • This makes Mastek one of the most strategic partner for Innovaccer. • Mastek’s AI Transformation, Data & healthcare capabilities with Innovaccer's leading platform will provide tangible business outcomes for HLS clients globally. • Rapid build up in pipeline, visibility of $50m+ Strategic Roadmap Mastek’s vision : Leader in AI transformation in select verticals • Backed by strong functional expertise in Enterprise Apps and AI engineering; launching Service as a Software. • This will help clients rationalize their SAAS investments while driving tangible business outcomes. • Mastek as a customer Zero, we have replaced internal CRM, Recruitment, Expenses and Accounts Payable systems with AI Native Solutions. Service as a Software
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6Company Confidential © Mastek 2026. All rights reserved |Investor Presentation Q2FY27 Key Wins for the Quarter Senior care and skilled nursing provider Service-as-Software engagement to build and run a bespoke, AI-powered core clinical platform Americas Territorial Police Department Process transformation program covering finance, procurement, human resources and payroll leveraged by ADOPT AI UK & Europe Americas Central Government Department Cybersecurity and information assurance, risk management and governance, resilience engineering UK & Europe Among the largest healthcare groups in UAE Strategic digital transformation through Oracle by replacing legacy systems AMEA Global dental technology company 5-year strategic POD Services across Oracle, Salesforce, Data & Analytics, Digital Engineering, Testing, DevOps, AI, and IT Compliance Americas Global classification society for marine and industrial assets 3-years outcome based managed services contract using Agentic AI
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7Company Confidential © Mastek 2026. All rights reserved |Investor Presentation Q2FY27 Financial Performance 867 870 905 915 940 906 938 985 1,019 16.5% 16.2% 15.3% 15.0% 15.6% 16.8% 16.1% 15.4% 14.4% 14.7% 10.8% 8.9% 9.9% 10.2% 11.7% 11.0% 10.6% 10.3% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 750 800 850 900 950 1,000 1,050 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26* Q3FY26 Q4FY26 Q1FY27* Q2FY27 Revenue from Operations (₹ Crore) Operating EBITDA Margin PAT Margin *Previous period EBITDA figures have been regrouped which are not material to consolidated financial statements
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8Company Confidential © Mastek 2026. All rights reserved |Investor Presentation Q2FY27 Consolidated Financial Highlights Q2FY27 (Figures In ₹ Crore) `` Operating Revenue Operating EBITDA & Margin (%)* PAT & Margin (%) 12 Months Order Backlog 146.3 152.1 146.2 15.6% 15.4% 14.4% Q2FY26 Q1FY27 Q2FY27 2,484.3 2,935.2 2,742.8 Q2FY26 Q1FY27 Q2FY27 97.4 105.9 105.7 10.2% 10.6% 10.3% Q2FY26 Q1FY27 Q2FY27 3.9% QoQ 0.1% YoY 0.2% QoQ 8.4% YoY 6.6% QoQ 10.4% YoY CC: Constant Currency 940.4 985.3 1,018.7 Q2FY26 Q1FY27 Q2FY27 3.4% QoQ 2.4% QoQ (CC) 8.3% YoY 0.6% YoY (CC) *Previous period figures have been regrouped which are not material to consolidated financial statements
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9Company Confidential © Mastek 2026. All rights reserved |Investor Presentation Q2FY27 `````` 656.1 945.4 930.6 Q2FY26 Q1FY27 Q2FY27 80 75 74 Q2FY26 Q1FY27 Q2FY27 Cash & Cash Eq. (₹ crore)* DSO LTM ROCE# 16.9% 16.0% 15.6% FY25 FY26 Q2FY27 `````` 87.6% 84.2% 83.4% Q2FY26 Q1FY27 Q2FY27 Headcount % Utilization (incl. Trainees) % LTM Attrition 18.5% 16.4% 15.2% Q2FY26 Q1FY27 Q2FY27 Consolidated Financial Highlights Q2FY27 * Including short-term investments and bank deposits # LTM Return on Capital Employed = LTM EBIT/Average Capital Employed 4,745 4,897 4,810 Q2FY26 Q1FY27 Q2FY27
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10Company Confidential © Mastek 2026. All rights reserved |Investor Presentation Q2FY27 Segment Highlights Q2FY27 Revenue split by Segments `` Geography Industry T&M / Fixed Bid 64.5% 67.3% 67.8% 22.6% 21.7% 21.2% 12.9% 11.0% 11.0% Q2FY26 Q1FY27 Q2FY27 UK & Europe US AMEA 39.0% 42.9% 44.4% 25.3% 19.3% 18.4% 11.3% 10.3% 9.2% 11.8% 12.5% 11.1% 12.6% 15.0% 16.9% Q2FY26 Q1FY27 Q2FY27 Financial Services Manufacturing & Technology Retail/ Consumer Health & Life Sciences Government & Education 60.5% 56.9% 57.1% 39.5% 43.1% 42.9% Q2FY26 Q1FY27 Q2FY27 Time & Material Fixed Price
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11Company Confidential © Mastek 2026. All rights reserved |Investor Presentation Q2FY27 Financial & Operational Performance Q2FY27
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12Company Confidential © Mastek 2026. All rights reserved |Investor Presentation Q2FY27 Consolidated Financial Summary – Q2FY27 Key Performance Metrics Revenue from Operations ($mn) Revenue from Operations (₹ Crore) Other Income (₹ Crore) Total Income (₹ Crore) Op. EBITDA* PBT PAT Basic Diluted Op. EBITDA* PBT PAT Revenue Margins (₹ Crore) Margin (%) EPS (₹) Q2FY26 940.4 $108.2 15.1 955.5 146.3 134.1 97.4 15.6% 14.0% 10.2% 31.5 31.2 QoQ Growth YoY Growth 3.4% (2.6)% 3.3% (3.9)% 2.2% (0.2)% (109)bps (16)bps (36)bps (0.8)% 8.3% (22.3)% 7.8% (0.1)% 5.5% 8.4% (121)bps (31)bps 5bps Q1FY27 985.3 $104.8 12.0 997.3 152.1 138.5 105.9 15.4% 13.9% 10.6% 34.2 33.9 Q2FY27 1,018.7 $107.3 11.7 1,030.4 146.2 141.5 105.7 14.4% 13.7% 10.3% 34.1 33.9 2.4% UK & Europe USTotal Order Backlog ($mn) 334.8 82.8 360.5 113.5 321.9 122.3 AMEA 63.754.160.3 *Previous period figures have been regrouped which are not material to consolidated financial statements
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13Company Confidential © Mastek 2026. All rights reserved |Investor Presentation Q2FY27 Consolidated Financial Summary – H1FY27 Key Performance Metrics Revenue from Operations ($mn) Revenue from Operations (₹ Crore) Other Income (₹ Crore) Total Income (₹ Crore) Op. EBITDA* PBT PAT Basic Diluted Op. EBITDA* PBT PAT Revenue Margins (₹ Crore) Margin (%) EPS (₹) YoY Growth (1.6)% 8.0% (7.4)% 7.8% 4.9% 9.9% 11.6% (45)bps 26bps 36bps H1FY26 1,855.1 $215.6 25.7 1,880.7 282.4 254.8 189.5 15.3% 13.5% 10.1% 61.2 60.8 H1FY27 2,003.9 $212.1 23.8 2,027.7 298.3 279.9 211.5 14.9% 13.8% 10.4% 68.2 67.8 *Previous period figures have been regrouped which are not material to consolidated financial statements
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14Company Confidential © Mastek 2026. All rights reserved |Investor Presentation Q2FY27 Operating Metrics Q2FY27 Strengthening our business New Clients Added Active during immediately preceding 12 months Top 5 contribution (LTM) Top 10 contribution (LTM) Total Employee • Offshore • Onsite Diversity (Women employees) Value (In mn) – $ Average rate/ ₹ LTM attrition Days Value (In mn) – £ Average rate/ ₹ Client Base Employee Base DSO FX Hedges for next 12 months No. of Clients with Annual Billing > USD 1mn Q2FY27 18 263 33.3% 45.5% 4,810 3,171 1,639 27.7% 15.2% 74 23.5 122.2 9.1 93.5 70 Utilization (incl. Trainees) 83.4% Clients having annualized revenue >$100,000 Q1FY27 13 260 33.8% 45.9% 4,897 3,283 1,614 27.9% 16.4% 75 22.6 120.3 7.6 91.8 69 84.2% 13 256 34.2% 44.2% 4,745 3199 1,546 27.5% 18.5% 80 22.0 113.2 6.7 88.1 74 87.6% Q2FY26
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15Company Confidential © Mastek 2026. All rights reserved |Investor Presentation Q2FY27 Annexures
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16Company Confidential © Mastek 2026. All rights reserved |Investor Presentation Q2FY27 Everest • Recognized as Major Contender in the Everest Group PEAK Matrix Retail Digital Services PEAK Matrix® Assessment IDC • Recognized as a Major Player in the Oracle Implementation Services 2026 Vendor Assessment globally ISG • Recognized as a Leader in ISG Provider Lens® – Public Sector Services and Solutions U.K • Recognized as a Contender in Both ISG Provider Lens® study Generative AI and Agentic AI Service Globally • Recognized as Product Challenger in 'AI-Driven ADM Services Analysts & Advisory Accolades Key Achievements & Recognitions
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17Company Confidential © Mastek 2026. All rights reserved |Investor Presentation Q2FY27 Mastek’s sustainability performance Environmental responsibility, inclusive growth, responsible technology and strong governance supporting long-term stakeholder value. FY2040 Global Net Zero target 100% Renewable electricity in UK offices 4,730 Employees globally 82/100 S&P Global CSA 2025 score 9 lakh+ Lives impacted by Mastek Foundation 97% Ethical AI & cybersecurity training Environmental Net Zero and renewable electricity Social People and community impact Governance Ethical AI and cybersecurity ENGINEERING SUSTAINABLE SCALE WITH AI
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This presentation contains information that may be privileged or confidential and is the property of Mastek. Copyright © 2026 Mastek. All rights reserved. D:\My Work\Template\Icons\Social Media\LinkedIN.png D:\My Work\Template\Icons\Social Media\YouTube.png D:\My Work\Template\Icons\Social Media\Facebook.png Thank You Note: Except for the historical information and discussion contained herein, statements included in this release may constitute forward looking statements. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from those that be projected by these forward looking statements. These risks and uncertainties include, but are not limited to such factors as competition, growth, pricing environment, recruitment and retention, technology, wage inflation, law and regulatory policies etc. Such risks and uncertainties are detailed in the Annual Report of the company which is available on the website www.mastek.com. Mastek Ltd. undertakes no obligation to update forward looking statements to reflect events or circumstances after the date thereof.