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Investor Deck – Q2 FY26 October 29, 2025
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Safe Harbour Certain statements in this release concerning Sagility’ future growth prospects may be seen as forward - looking statements, which involve a number of risks and uncertainties that could cause the actuals to differ materially from such statements. Sagility does not undertake to update any such statement that may have been made from time to time by or on behalf of the company.. 2
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Performance Highlights ₹ 16,585 million Organic Y-o-Y growth 16.0% 11.1 % at Constant Currency Y-o-Y growth 25.2% 20..0% at Constant Currency ₹ 4,352 million Margin % 26.2% Y-o-Y growth 25.6% ₹ 3,010 million Margin % 18.1% Y-o-Y growth 84.0% ₹ 31,974 million Organic Y-o-Y growth 16.9% 13.2 % at Constant Currency Y-o-Y growth 25.5% 21..4% at Constant Currency ₹ 8,039 million Margin % 25.1% Y-o-Y growth 26.0% ₹ 5,007 million Margin % 15.7% Y-o-Y growth 62.4% ► 16.0% Y-o-Y organic growth in Q2 FY26 driven by expansion from existing clients, while new wins are expected to further strengthen momentum in H2 ► $34 M (potential steady state ACV) of new business & expansion won in Q2 FY26 ► Expansion and new SOWs from 24 existing clients in Q2 FY26 ► 5 new clients onboarded in Q2 (total 9 in H1 FY26) ► 2 new SOWs from cross-sell to Broadpath clients in Q2 (3 in H1) ► Strong client engagement continues, with deal constructs evolving beyond traditional service delivery models. Sharper emphasis on transformation, consulting-led value creation, and measurable cost take-out initiatives. Q2 FY26 summary H1 FY26 summary Headcount 44,185 Clinicians & Technology heads 3400+ ► Great Place to Work-Certified in India in Sept 2025 ► Winner of the Asia CEO Awards 2025 – “Service Excellence Company of the Year” for Sagility Philippines Interim dividend of ₹0.05 per share
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KPIs 4 Q2 FY26 Q1 FY26 Q2 FY25 YoY% H1 FY26 H1 FY25 YoY% Revenue from Operation (in INR Million) 16,585 15,389 13,250 25.2% 31,974 25,484 25.5% Revenue by Vertical Split By Payer % 88.5% 88.4% 89.2% 88.4% 89.2% By Provider % 11.5% 11.6% 10.8% 11.6% 10.8% Growth in revenue from operation (%) 25.2% 25.8% 21.1% 25.5% 15.3% Adjusted EBITDA (in INR Million) 4,352 3,687 3,465 25.6% 8,039 6,381 26.0% Adjusted EBITDA % 26.2% 24.0% 26.1% 25.1% 25.0% Adjusted PAT (in INR Million) 3,010 1,997 1,636 84.0% 5,007 3,083 62.4% Adjusted PAT % 18.1% 13.0% 12.3% 15.7% 12.1% Total Number of Employees 44,185 39,917 38,830 15.1% 44,185 38,830 15.1% Voluntary attrition rate* (%) 26.3% 27.6% 25.8% 26.3% 26.7% Note: Adjusted EBITDA represents EBITDA adjusted for earnouts payable under acquisition agreements (DCI, BirchAI & BroadPath), share-based payment awards and exclude other income (including forex gain/loss). Voluntary attrition (considering employees who were employees for more than 90 days) on an annualized basis
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Annual KPIs 5 H1 FY26 FY25 FY24 FY23 Number of Client groups* Active 82 75 44 35 Number of new client addition (Gross) 9 38 13 7 Delivery sites Number of delivery sites 34 33 30 27 New site addition (Gross) 3 10 4 2 TTM Sept 25 FY25 FY24 FY23 Client groups contribution to revenues Top 3 Client % 63.1% 66.2% 68.3% 72.4% Top 5 Client % 74.4% 77.9% 79.2% 80.6% Top 10 Client % 87.6% 90.5% 91.4% 90.7% Number of Million-dollar client groups Number of clients contributing more than US$20 million 8 7 5 4 Number of clients contributing to US$5 - US$20 million 6 6 7 7 Number of clients contributing to US$1 - US$5 million 17 12 12 12 Number of clients contributing less than US$1 million 51 50 20 12 * Client groups comprise client entities together with their affiliates.
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Recent Market Updates 6 Market Changes Impact on Payer/ Provider Likely Impact on Sagility Marketplace Integrity and Affordability Final Rule ► Payers must upgrade eligibility, enrollment, and compliance systems to meet stricter verification and reporting rules. Premium inflows to ACA focused payers likely to reduce. ► Providers may face shifts in patient coverage, requiring tighter eligibility checks and revenue- cycle vigilance ► Sagility is well positioned to support Payers in increased demand for automation-led Eligibility & enrolment validation. HIRE Act 2025 ► 25% Excise tax on Outsourcing payments to foreign entities for services to US consumers. The bill has not yet passed the Senate or the House ► Margin compression of payers and providers ► Payers and providers are expected to increasingly adopt technology-driven solutions to optimize costs. ► Even with proposed taxes, offshoring would remain more cost-effective than onshore. Normalization of tariffs as a long-term policy measure ► Tariff driven increase in cost of imported medical equipment & Pharmaceuticals. Providers more exposed to Tariff risks than payers. ► No tangible impact H- 1B policy ► Sagility does not rely on the H-1B program. ► Over 99% of Sagility employees in the US are citizens or green card holders
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Larger and more complex deal constructs Transform in place For a large national player, traditional levers like offshoring and automation has matured with diminishing returns. They wanted to unlock further cost savings through next- generation levers. Sagility has created an AI-driven transform-in-place solution, which combined inputs from operations analytics, process engineering, AI/ML & GenAI to deliver an additional 20+% savings. Transform and elevate Engagement A large regional payer wanted to achieve substantial cost takeout and elevate Member & Provider engagement experience, using Sagility’s cloud- based engagement services and GenAI. Revenue Growth through bundled technology and services A leading national payer providing B2B services (provider Network & claims repricing) to Health Benefit companies and other Health plans was looking to grow revenues by providing new services like provider payments and engagement. Sagility designed a shared-services model along with a technology partner who will provide data aggregation services and integration with Sagility’s CRM to enable operational services like Provider Payments and engagement. Commercial construct in such models is “per-member-per-month (PMPM)” which will de-risk the payer vs traditional billing models like Transaction Rate or FTE rate. Savings delivered over committed reduction will have “Gain-Share” Per-member-per-month (PMPM) model which covers both platform and operational expenses, delivering cost savings and reducing cost volatility for clients. Sagility has proposed a GenAI-powered, cloud-based engagement solution to achieve 25-40% savings, across Members, Brokers and Provider interactions. The savings are from GenAI enabled transaction containment (self-service) and productivity improvement (Agent-Assist). Commitment on savings AI Agents to process transactions at a fraction of cost of transaction processed by humans.
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Case Studies & White Papers Solution Videos Events & Expert Talks One Big Beautiful Bill Act Case Studies AI, RPA Improves Dental Appeals, Boosting Efficiency by 30%,Accuracy by 50% AI, RPA Improves Dental Appeals, Boosting Efficiency by 30%, Accuracy by 50% Agile Claims Migration to Facets Platform Saves $11M Agile Claims Migration to Facets Platform Saves $11M Corrected Claims RP A Saves Leading Blues Plan $1M Corrected Claims RPA Saves Leading Blues Plan $1M Claims Automation Saves $1.5M for Leading Payer Claims Automation Saves $1.5M for Leading Payer AHIP Webinar – October Featuring insights and deployed examples of Sagi360 Availity + Sagility Co-marketed solution to be featured AHIP Webinar – September Highest registration AHIP has had in 2025 AI-enabled Virtual Agent Nurse Assist Sagility Thought Leadership What’s New & What’s Next for 2025
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Financial Highlights
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Financial Highlights 10 Q2 FY26 H1 FY26 ₹ 16,585 million Organic Y-o-Y growth 16.0% 11.1 % at Constant Currency Y-o-Y growth 25.2% 20.0 % at Constant Currency ₹ 4,352 million Margin % 26.2% Y-o-Y growth % 25.6% ₹ 3,010 million Margin % 18.1% Y-o-Y growth % 84.0% ₹ 31,974 million Organic Y-o-Y growth 16.9% 13.2 % at Constant Currency Y-o-Y growth 25.5% 21.4 % at Constant Currency ₹ 8,039 million Margin % 25.1% Y-o-Y growth % 26.0% ₹ 5,007 million Margin % 15.7% Y-o-Y growth % 62.4% ₹ 5,585 million Conversion % 67.3% DSO 78 days ₹ 2,374 million Conversion % 50.2% DSO 78 days 25%+ growth on Revenue & Adjusted EBITDA. DSO of 78 days includes unbilled Revenues
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Quarterly Seasonality 36.5 36.6 35.0 35.9 38.4 39.6 39.4Headcount (‘000) 39.9 38.4 44.2 11 June 23 to Sep 24 June 24 to Sep 25 ₹10,941 ₹12,602 ₹12,832 ₹12,233 ₹13,250 22.6% 23.0% 24.5% 23.8% 26.1% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 50.0% - 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Revenue INR M Adjusted EBITDA % 13,250 14,531 15,685 15,389 16,585 26.1% 28.4% 26.6% 24.0% 26.2% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 20,000 22,000 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Revenue INR M Adjusted EBITDA % Headcount (‘000) BroadPath Revenue ($M) $131.9 $150.8 $154.4 $146.6 $157.9 Revenue ($M) $157.9 $171.9 $181.8 $180.4 $189.4 Our Revenues exhibit seasonality. Growth in Q3 is driven by open-enrollment ramps and member acquisition (BroadPath)
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Long Term Financial performance snapshot Revenue (INR Million) FY25 YoY% TTM Sep YoY% 17.2% 22.1% Adjusted EBITDA * (INR Million) FY25 YoY% TTM Sep YoY% 28.4% 31.5% Adjusted PAT (INR Million) FY25 YoY% TTM Sep YoY% 37.5% 59.2% Revenue ($M) FY25 YoY% TTM Sep YoY% 14.9% 18.7% Adjusted EBITDA* ($M) FY25 YoY% TTM Sep YoY% 25.9% 27.9% Adjusted PAT ($M) FY25 YoY% TTM Sep YoY% 34.8% 54.0% 12 *Adjusted EBITDA represents EBITDA adjusted for earnouts payable under the acquisition agreements (DCI, BirchAI & BroadPath), share-based payment awards and exclude other income (including forex gain/loss). ₹47,536 ₹55,699 ₹50,917 ₹62,190 FY24 FY25 TTM Sep'24 TTM Sep 25 ₹11,436 ₹14,685 ₹12,425 ₹16,343 FY24 FY25 TTM Sep'24 TTM Sep 25 $572.9 $658.3 $609.8 $723.6 FY24 FY25 TTM Sep'24 TTM Sep 25 $137.8 $173.6 $148.8 $190.3 FY24 FY25 TTM Sep'24 TTM Sep 25 ₹5,896 ₹8,107 ₹6,301 ₹10,031 FY24 FY25 TTM Sep'24 TTM Sep 25 $71.1 $95.8 $75.9 $116.9 FY24 FY25 TTM Sep'24 TTM Sep 25 Consistent Revenue Growth. Expansion in EBITDA margins & reduction in interest and amortization expense driving higher PAT growth
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Other Financial Indicators Adjusted EPS is Adjusted PAT divided by weighted average number of equity shares Adjusted ROCE is Adjusted PAT plus Interest cost divided by capital employed (Assets excluding goodwill and intangibles assets less current liabilities) Net Debt is Borrowing plus lease liabilities less Cash and Cash equivalent including investment in Mutual Fund and Deposits . Borrowing doesn’t include accrued interest 13 87.2% 89.7% 67.3%70.8% 80.5% 57.6% FY24 FY25 YTD Sep 25 Cash Conversion (%) OCF % FCF % ₹21,678 ₹10,433 ₹6,199 1.9x 0.71x 0.38x - 0.50 1.00 1.50 2.00 2.50 ₹0 ₹5,000 ₹10,000 ₹15,000 ₹20,000 ₹25,000 FY24 FY25 TTM Sep 25 Net Debt Net Debt (in INR Million) Net Debt to Adjusted EBITDA 1.38 1.76 2.15 FY24 FY25 TTM Sep 25 Adjusted EPS (in INR) 47.0% 54.9% 54.8% FY24 FY25 TTM Sep 25 Adjusted ROCE % Cash conversion in H1 FY26 @ 57.6% driven by higher Non-cash (unrealized) forex Gains & advance tax payments in Q2
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Q2 FY26 Consolidated Profit and Loss 14 Particulars Q2 FY26 Q1 FY26 Q2 FY25 YoY% QoQ% H1 26 H1 25 YoY% Revenue from Operation 16,585 15,389 13,250 25.2% 7.8% 31,974 25,484 25.5% Employee benefits expense* 10,070 9,646 7,912 19,715 15,439 Other expenses^ 2,163 2,056 1,874 4,220 3,664 Adjusted EBITDA** 4,352 3,687 3,465 25.6% 18.0% 8,039 6,381 26.0% Adjusted EBITDA % 26.2% 24.0% 26.1% 25.1% 25.0% Adjustments: M&A Earnouts 127 155 120 283 244 SAR (stock appreciation right) – Non Cash 73 71 93 145 945 Other Income^^ 65 50 153 115 189 Forex Gain / (Loss) 516 49 -241 566 -32 Reported EBITDA 4,733 3,560 3,165 49.6% 33.0% 8,293 5,349 55.0% Finance costs 250 274 297 524 671 Depreciation and amortisation 1,215 1,182 1,264 2,397 2,363 Profit Before Tax 3,268 2,104 1,604 103.7% 55.3% 5,372 2,314 132.1% Tax Expenses 760 618 431 1,378 918 Reported Profit After Tax 2,508 1,486 1,173 113.8% 68.8% 3,994 1,396 186.0% EPS 0.54 0.32 0.25 113.8% 68.8% 0.85 0.31 178.3% Adjusted PAT 3,010 1,997 1,636 84.0% 50.7% 5,007 3,083 62.4% Adjusted PAT % 18.1% 13.0% 12.3% 15.7% 12.1% Adjusted EPS (Rs) 0.64 0.43 0.35 84.0% 50.7% 1.07 0.68 58.0% *Employee benefits expense excludes M&A earnout and SAR (shown separately under adjustments), ^ Other expenses exclude forex loss. ^^ Other income excludes forex gain. Forex Gain and Forex Loss clubbed together and shown separately. ** Adjusted EBITDA represents EBITDA adjusted for earnouts payable under the acquisition agreements (DCI, BirchAI & BroadPath), share-based payment awards and exclude other income (including forex gain/loss). Amt in INR M
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Adjustments on EBITDA and PAT Adj EBITDA Bridge: Q2 FY26 Adj A - Earnouts under acquisition agreements and for PAT it is adjusted for tax Adj B - Share based payment awards (non-cash expenses for the company and not tax deductible) Adj C - Amortization of intangible assets that got created due to carveout of healthcare business from HGS Adj PAT Bridge: Q2 FY26 INR Million INR Million 15 ₹4,733 ₹127 ₹73 -₹582 ₹4,352 Reported EBITDA Adj A Adj B Other Income/Fx gain Adjusted EBITDA ₹2,508 ₹93 ₹73 ₹336 ₹3,010 Reported PAT Adj A Adj B Adj C Adjusted PAT ₹8,293 ₹283 ₹145 -₹681 ₹8,039 Reported EBITDA Adj A Adj B Other Income/Fx gain Adjusted EBITDA Adj EBITDA Bridge: H1 FY26 INR Million Adj PAT Bridge: H1 FY26 INR Million ₹3,994 ₹206 ₹145 ₹662 ₹5,007 Reported PAT Adj A Adj B Adj C Adjusted PAT Reported EBITDA Adj A Adj B Other income/ FX gain Adjusted EBITDA Reported EBITDA Adj A Adj B Other income/ FX gain Adjusted EBITDA
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Go Forward Positions • Intangibles Amortisation (A) - Amortization of intangible assets that got created due to carveout of healthcare business from HGS • Intangibles Amortisation (B) - Amortisation for intangible assets acquired in relation to acquisitions (DCI, Birch and BroadPath) – Ends by FY33 16 Particulars FY25 FY26 FY27 FY28 FY29 FY30 Closing Debt position 8,020 5,670 Debt Repayment 2,490 2,350 5,670 Interest Payment 751 535 285 Share based Payment awards 1,134 255 151 80 41 Earnouts Cost - DCI / Birch/ BroadPath 571 503 5 Intangibles Amortisation (A) 1,400 1,443 1,456 1,456 1,456 1,456 Intangibles Amortisation (B) 188 387 380 366 291 247 Amt in INR M Debt to be fully repaid by FY27.
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Balance Sheet - 30th September 25 17 Particulars Sep 25 Mar 25 Property, plant and equipment 3,946 3,699 Capital-work-in-progress 4 0 Right-of-use assets 4,987 5,521 Goodwill 61,666 60,390 Other intangible assets 20,161 20,362 Trade receivables and Unbilled 14,224 12,668 Cash and cash equivalents 5,992 3,438 Deferred tax assets (net) 1,381 1,337 Other Assets 2,913 3,091 Total Assets 115,273 110,507 Equity 88,945 83,361 Borrowings 6,904 8,170 Lease liabilities 5,415 5,850 Trade payables 2,143 2,136 Deferred tax liabilities (net) 3,986 4,279 Other Liabilities 7,880 6,712 Total Liabilities 115,273 110,507 Amt in INR M
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Cash Flow – H1 FY26 18 Particulars H1 FY26 FY25 Profit before tax for the period/ year 5,372 7,602 Adjustment for Non-Operating and Non-Cash items 2,362 6,982 Adjustment for working capital (309) (710) Income taxes paid (net of refunds) (1,840) (1,734) Net cash flows generated from operating activities (A) - OCF 5,585 12,141 Addition to Fixed Assets (810) (1,244) Free Cash flow (FCF) 4,776 10,896 Cash paid for M&A 0 (4,825) Pending Purchase consideration paid for healthcare business carveout 0 (3,756) Investment in Mutual fund and Fixed Deposit (3,021) 0 Others 107 184 Net cash flows (used in) investing activities (B) (3,724) (9,642) Capital infused by promoter 0 3,708 Share Issue expense (paid)/ reimbursed 0 72 Repayment of Promoter borrowings (include Interest) (1,559) (4,567) Repayment of lease liabilities (include Interest) (911) (1,774) Net cash flows (used in) financing activities (C) (2,471) (2,561) Net increase/ (decrease) in cash and cash equivalents (A+B+C) (609) (62) Cash and cash equivalents at the beginning of the year/period 3,438 3,441 Effect of movement in exchange rates on cash and cash equivalents 87 58 Cash and cash equivalents at the end of the year/ period 2,915 3,438 Net cash flows generated from operating activities % (OCF on Reported EBITDA) 67.3% 89.7% Free Cash flow % (FCF on Reported EBITDA) 57.6% 80.5% Amt in INR M
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Thank You