Slides
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Aeries Technology Investor Presentation
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Aeries Results – Quarter ended 31 December 2025 2 Q3 FY 26 Three Months Ended December 31, 2025 Full press release: Q3 FY2026 Press Release $17.5 M Revenue $1.2 M Net Income $2.5 M Adjusted EBITDA 14.1% Adjusted EBITDA Margin 19.1% Gross Margin $2.4 M Operating Cash Flow
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Aeries At a Glance 3 40+ < 7% GCCs Attrition (Apr 25 – Dec 25) 14+ Years In Business Employees 50%+ 80% Annualized Customer Savings Employee Satisfaction Score The Largest Independent Value Creation & GCC Partner for Private Equity Backed Companies 1600+ PEAK Matrix ® 2024 & 2025 MAJOR CONTENDER - GLOBAL CAPABILITY CENTER (GCC) SET UP CAPABILITIES
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WHY GCCS & WHY NOW WHAT IS A GCC Global Capability Centers 4 62% of the world’s highly skilled professionals now reside outside North America and EU 90% of CEOs globally cite talent scarcity as a top business challenge; offshoring to talent- rich regions is a proven solution An owned, directly governed team in a talent-rich location to build and run mission-critical tech and operations at lower total cost. • Your extended teams in an offshore/nearshore location • Built for specialized, high-value functions • Long-term value creation with full control on quality and output Key Advantages of Setting Up GCCs: Cost Efficiency Significant savings across labor, real estate, and operating costs. Mature Ecosystems (business & technology) Access to rich partner networks, enterprise platforms, and startup innovation to accelerate outcomes. Unmatched Talent Pool Deep engineering and digital talent pipelines tapping into highly-educated, increasingly experienced talent pools. Business Friendly Policies Pro-digital incentives, FDI openness, and established SEZ frameworks in leading GCC locations. Control of Resources, Culture & IP Direct ownership of teams, processes, and standards to align objectives and ensure results Faster High-Quality Execution Dedicated, mission-aligned teams improve communications, reduce inefficiencies and deliver more quickly and accurately. Global Multi-Location Strategy Multi-shore coverage for resilience, round the clock delivery, customer proximity, and risk management RAPID STANDUP Proven playbook ensures rapid access to innovative resources FULL TRANSPARENCY Why Aeries for GCCs - Proven Impact on Speed, Savings, Scale DOMAIN EXPERTISE Joint governance, milestone-based reporting Cross-functional alignment with client industries COST EFFICIENCY Achieved through optimal talent process and location execution MULTI-LOCATION DELIVERY Global centers to align to client’s requirements
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The GCC Model VS. Managed Services 5 Objectives GCC MANAGED SERVICES OWNED CENTER OF EXCELLENCE GCC enable access to resources as an extension of a company to deliver innovation and efficiency across the organization versus a “black box” approach of a managed service DOLLAR FOR VALUE GCC’s built to deliver high-quality at considerably lower costs than “home” resources with better outcomes than traditional managed services SCALABILITY Ability to scale in different geographies based on expanded base of resource in applicable functions HIGH RETENTION GCC employees are integrated into company culture and policies, leading to high retention rates enhancing continuity BEST PRACTICE SHARING Practices adopted in a GCC can extend into the rest of the organization more seamlessly LOW OPERATIONAL OVERHEAD GCCs add operational overhead to a company, but certain structures such as BOTs can mitigate that
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Aeries is Strongly Positioned to Pursue the Next-Generation GCC Model. 6 STAFF AUGMENTATION • Fill skill gaps • Ramp-up/down • Control with clients Low Machine Usage 1990 2000 Process Centralization Offshoring VALUE CREATION through Labor Arbitrage Nearshoring We will help our clients integrate new technologies in AI and automation 2010 VALUE CREATION 2020 2025 VALUE CREATION through Artificial Intelligence Process Standardization AI Chatbots GenAI / LLMs TECHNOLOGY- ENABLED SERVICES • People-driven • Supported by tools PLATFORM-BASED SERVICES • Integrated platforms • Focus on Scalability AI-ENABLED SERVICES • AI-augmented People Skills • Enhanced capabilities • Higher predictability FULLY AUTOMATED SERVICES • Minimize human interaction • Consistent, Predictable Delivery High Machine Usage 2030 VALUE CREATION through Optimization & Automation Lean & Six Sigma Process Optimization RPA/ IPA AI / ML TRADITIONAL OUTSOURCING PURPOSE-BUILT GCCs OPERATE +GCCs Powered by AI AI Agents
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Aeries Purpose Built Model can be replicated in any location Delivering Our Solutions Across A Global Location Footprint India Key Enablers ~ 5.4M PEOPLE Total IT & BPPM workforce in India 120K+ AI professionals driving AI- led Transformation 1700+ Total number of GCC units $ 254 Bn IT Industry size with $200Bn from exports 50-60% lower costs Large skilled talent pool Regional Stability 24/7 Working Model Why India ? Established infrastructure and IT ecosystem Hyderabad Bangalore Pune Mumbai India Monterrey Guadalajara Mexico city Aguascalientes Torreon Queretaro Leon Merida Tier 1 Tier 2 Mexico Key Enablers 160K New IT professionals graduating each year $36 Billion425+ Industrial Parks RANKS 3rd IT talent exporter behind India and the Philippines Foreign Direct Investment 40-50% lower costs Ease of business American-English skills Proximity & Similar time zone Why LATAM ? LATAM – Mexico Hub 7
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Our Offerings
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Integrated Offerings Supporting End-to-End Business Transformation GCC SOLUTIONS End-to-end assessment, design, set-up, and operations • Comprehensive operating model and governance design • Location strategy and site Selection • Infrastructure and workspace setup • Talent Acquisition, employee policy alignment, and branding • Ramp-up and operations • Legal, Compliance & Risk Controls CONSULTING & TRANSFORMATION Advisory-driven business transformation with domain-specific consulting, GCC advisory & AI-transformation AI PRODUCTS & SOLUTIONS Enterprise transformation with AI centric solutions • Technology and operations assessments, with design and implementation support for due diligence, 100-day planning, and execution • AI readiness assessments, solution design, and implementation across key functions • GCC assessments with alternative design options and transformational implementation support • Change management advisory and execution support • Organizational design and performance improvement • AeriesOne platform for rapid AI design, build and deployment • 1GCC digital operating system for seamless GCC management & optimization • ARIA AI Agents for business productivity & insights • Modular, scalable solutions ensuring faster time-to-value and enterprise security • Custom development & product management 9
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Comprehensive Functional Coverage for In-House GCCs 10 TECHNOLOGY BUSINESS OPERATIONS SALES & MARKETING Sales Operations | Renewals | Inside Sales | Digital Marketing | Lead Generation CLOUD & IT INFRASTRUCTURE NOC/TOC | DevOps | Remote Automation | Data-Center | Tech Help-Desk & Support FINANCE & ACCOUNTING Global Taxation & Audit | Compliance | FP&A| P2P | R2R | O2C | Payroll | Treasury Ops PRODUCT ENGINEERING Customer Journeys | Product Roadmaps | Design & Development | Lifecycle Management LEGAL Contracts & Compliances | Procurement Mgmt. | Legal Entity Setup ENTERPRISE APPLICATIONS ERP & CRM Implementation | Maintenance | Audit | Upgrades & Migrations CUSTOMER SERVICE Call Center – Inbound & Outbound| Omni Channel | Help-Desk for Product Support INFOSEC & CYBERSECURITY Unified Threat Management | Identity & Access Management | IT Security | SOC AI DEVELOPMENT AI Engineering | Intelligent Integrations | AI-Led QA | Platform APIs | Model Ops HUMAN RESOURCES Talent Acquisition & Mgmt. | L&D | Employee Engagement | HR Ops Our GCC Activity Pillars Assess Design Operate & Transform GCC Business Case Development GCC Blueprinting GCC Maturity & Optimization Build GCC Plan Execution
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Our Engagement Model – Partnering for Success Across the Acquisition Lifecycle We partner with Private Equity clients at each critical stage of analysis, decision-making, and execution 11 DUE DILIGENCE VALUE CREATION PLANNING EXECUTION EXIT PREPERATIONDEAL CYCLE KEY OBJECTIVES Identify Hidden Value & Mitigate Uncertainties Accelerate Portfolio Performance Grow Revenue, Operate Efficiently & Optimize Cost Prepare For Sale & Maximize Returns VALUE TO CUSTOMERS Informed investment thesis, faster close, risk visibility Accelerated value capture, predictable delivery against plan Revenue growth, Customer success, margin expansion, scalability, operational maturity Stronger exit narrative, cleaner diligence, smoother transition AERIES SERVICES - Cost takeout modeling & census analysis - Tech, digital & AI maturity assessment - Business case validation, carve-out & TSA - Location analysis, entity setup & rebadging strategy - Value creation advisory 100- day plan execution - Operational efficiency through automation & digitization - Talent acquisition, upskilling, and organization design - Change management and governance frameworks - GCC setup & delivery - AI/analytics initiative support - Managed Services support & centralized functions - Internal and external risk and compliance governance performance transparency - Exit playbook & execution support - Sell-side positioning & buyer-ready deliverables - Transition continuity (carve- outs, TSAs) - LP reporting, fund administration, VDR support
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Delivering AI Capabilities to Our Customers AI-powered software development services that are rapid, scalable and cost-effective, to accelerate AI implementation journey. Best-in-class AI solutions and expertise that integrate leading product technologies accessed via our AI Partner Network Assess organizational maturity, identify strategic opportunities and define an executable AI transformation roadmap AI Advisory Services AI Delivery Pods AI Partner Network Use Cases of AI for Automation and Augmentation • Self-help Chatbots & Virtual Agents • Speech/Text Analytics • Support assignment • Accent neutralization • Use case, test case writing • Code Generation & Review • Predictive Maintenance • Resume screening & ranking • Candidate sourcing • AI-driven video interviews • Interview scheduling • Invoice processing & AP Automation • Smart Reconciliation • Forecast & Budgeting • Audit & Compliance • Incident Management • IT Chatbots • Predictive Maintenance • Security Operations Customer Support Engineering TA FinanceIT / InfoSec • Employee Self Service Chatbots • Employee Engagement • Onboarding & Offboarding • Policy making & refinement • Content Creation/Generation • Campaign Personalization • Social Listening & Sentiment Analysis • RFx Response Automation • Sales Proposal Generation • Lead Generation • Win/Loss Analytics • Sales Forecasting • Meeting summarization & action tracking • Enterprise search & productivity • Risk Identification & Mitigation • Regulatory & Compliance Management • Contract Review • Document Drafting • Legal Research HR Marketing Sales / Pre-Sales PMLegal 12
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Helping Customers Determine Their AI Readiness Posture Across Functions DEFINITION Org is understanding AI and figuring out where it can be adopted Org has identified some use cases and starting to implement some AI tools AI has been implemented across some internal processes with a focus on adoption and ROI Entire org is working towards adopting AI and driving results PARAMETERS CONSIDERED LEADERSHIP | BUSINESS STRATEGY | CUSTOMERS | PEOPLE | OPERATIONS | SYSTEMS WHAT AERIES OFFERS Identify first use cases and implement them Help implement identified use cases | Improve current adoption | Advise on AI focus areas Improve implemented solutions | Drive adoption/ROI | Advise on roadmap Implement roadmap & scale organization-wide EXPLORING EXPERIMENTING EMBRACING EMBEDDING 13
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Delivering Value in Automation: The AeriesOneA1 Enterprise Platform 14 A1 Marketplace A1 GCC GCC Workflow and Analytics Dashboard providing clients an overview and detailed drilldown to manage and enhance their GCC setup & operations. Digital twin of GCC. Proprietary digital transformation solutions available for clients + Customized Solutions Third party digital solutions available for clients through AeriesOneA1 platform AeriesOneA1 Combines data-driven decision-making, AI-based operational efficiency, and strategic scalability under one platform Digital Platform for Purpose-Built GCCs with Integrated Digital Transformation Hub
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Understanding the Market Potential
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CALCULATIONS: a) Worldwide IT Services Spending4 → USA IT Services Spend(39%) → SMB Attributed (44%) The Most Exciting Markets in IT Services – Global Capability Centers (“GCCs”) 16 ESTIMATED TAM ~$260 Billion(a) USA 39%Rest of the world 61% Total Worldwide IT Services Spend – $ 1.5 T NORTH AMERICAN IT SERVICES SPEND - ~$590 B $ 128.6 B $ 453.9 B 2023 2032 CAGR 13.5% Source 65% 55% 45% 40% AI | Data Analytics | Cloud Computing Product Engg. CyberSecurity & Regulatory Compliance Multifunctional (F&A | IT | HR) GCC Global Market Size GCCs by Purpose India’s GCC Era GCC by Function Value Drivers 43% Access To Talent 35% Innovation 22% 1.6 2.0 2.3 2.7 3.2 3.6 4.0 2023 2024 2025 2026 2027 2028 2029 YearNo. of GCCs 1,480 1,650 1,848 2,019 2,201 2,385 2,558 GCC Headcount (in mn) GCC growth is expected to continues in medium term Source: Hfs Research
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Network Effect – Ensuring Accelerated Growth INNOVATION CUSTOMER EXPERIENCE ALIGNED TEAMS BETTER TALENT More value creation for stakeholders Lower cost structure Elevating our customers’ digital strategy to align with the ever- shortening business cycles and gain competitive advantage High Customer Satisfaction & Net Promoter's Score are a key ingredient in customer satisfaction and hence referrals Lower attrition vs industry, C-level client alignment, best practices sharing & employee growth Right fit and work culture ensures high E-SAT – leading to better talent acquisition and retention The cost economics and efficiencies that the “Aeries Way” delivers along with cost effective transformation Part of the playbook for value creation for Stakeholders e.g. PE & Portfolio Companies and subsequent network effects 17
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Our Growth – The Network Effect 18 As key employees from clients move companies, they bring us in We have free organic growth as we get implemented into each new PE investment Strong Net Promoter Score helps us gain client referrals & testimonials PE acquisitions create openings to showcase value and gain partners. 2017 2018 2020 EXTERNAL VALIDATION GROWTH PHASE 202320222016 2019 20212012-2015 MVP 20252024 Private Equity 7 Private Equity 4 Private Equity 9 Private Equity 6 Private Equity 3 Private Equity 8 Private Equity 2 Private Equity 5 Private Equity 11 Private Equity 10 Private Equity 12 Private Equity 13 Private Equity 16 Private Equity 15 Private Equity 14 Private Equity 17 1 2 3 2013 2014 2012 4 6 5 8 7 13 11 12 15 18 20 17 19 22 23 16 28 29 25 24 4030 34 35 37 38 31 39 32 3326 36 51 50 49 52 53 54 55 10 9 14 21 27 43 47 46 45 42 41 48 44 Private Equity 18 Private Equity 1
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Growth Vision: Aeries’ long-term strategies for sustainable growth, reinforcing stability and scalability INORGANIC GROWTH • Well-crafted inorganic growth strategy – geography coverage, capabilities, service area mix, new age technology solutions and analytics • Tuck in acquisitions • Transformative acquisitions BUILDING ‘MOAT’ AROUND OUR BUSINESS MODEL • Continue to build on success in Private Equity community – expand NETWORK EFFECT • Dedicated senior professionals, based in USA • Expand Service offerings for consulting & AI ACCELERATE CROSS & UPSELL • Renewed focus on selling products & solutions to existing clients • Vertical Heads & Senior Executive Team champion in place 19
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Financial Summary
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Notes: All figures in US$ Mn and represent North America Revenue numbers Growth: Revenue & Profitability 21 $39.4 FY = year ending March 31st Revenue Growth (North America only) 21 38.0 48.2 57.0 65.5 FY 2021-22 FY 2022-23 FY 2023-24 FY 2024-25 y-o-y growth y-o-y growth y-o-y growth27% 18% 15% Q3 FY 2026 Results Revenue $17.5 Mn Adjusted EBITDA $2.5 Mn Operating Cash Flow $ 2.4 M FY 2027 Guidance Revenue $ 80 - 84 Mn Adjusted EBITDA $ 10 - 12 Mn
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Board Of Directors 22 Alok Kochhar Chairperson - Compensation Committee Member – Audit and Nominating & Corporate Governance Committee 30+ years at Bank of America, is an expert in finance, regulations, and market challenges. As a senior advisor at Boston Consulting Group, he guides tech and financial services firms Biswajit Dasgupta Chairperson - Nominating & Corporate Governance Committee Member – Audit Committee Partner at JRC Corporate Consulting and Senior Advisor at Arthur D. Little. He has an extensive experience in treasury, institutional banking, corporate banking, investment sales, product development and debt capital markets Nina B. Shapiro Chairperson - Audit Committee Member – Compensation Committee 30 years of international experience in project finance and business development. Since retiring from the World Bank in 2011, Ms. Shapiro has taken on a full-time role as a corporate and advisory board member Raman Kumar Chairman & Founder Accomplished serial entrepreneur with an established track record of building successful technology companies. Founder & former Chairman / CEO of NASDAQ-listed M*Modal. Independent Directors Executive Board Member Non-Executive Board Member Ajay Khare Chief Executive Officer Responsible for planning and executing the strategic direction and ongoing operations for the company and works closely with private equities and their portfolio companies in defining global delivery solutions & strategies for value creation.
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An Experienced Management Team 23 Sheetal Sawant SVP, CHIEF HUMAN RESOURCES OFFICER Navin Ninan VP, INFORMATION TECHNOLOGY & INFOSEC Maulik Doshi SVP, CFO – INDIA & CHIEF ACCOUNTING OFFICER Charu Chawla SVP, CLIENT ENGAGEMENT & FINANCE TRANSFORMATION Mario Jimenez DIRECTOR, LATAM OPERATIONS Srijith Kumar VP, CLIENT ENGAGEMENT & SERVICE DELIVERY Salma Curmally DIRECTOR, LEGAL & COMPLIANCE Ajay Khare CHIEF EXECUTIVE OFFICER Daniel Webb CFO & CHIEF INVESTMENT OFFICER Unni Nambiar CHIEF TECHNOLOGY OFFICER Sachin Aghor SVP, CHIEF DELIVERY OFFICER
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Safe Harbor Statement 24 This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts, and further include, without limitation, statements reflecting our current views with respect to, among other things, our future expectations, plans, results, or strategies, and other non-historical statements including the statements in the “Growth: Revenue & Profitability” section of this presentation. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. These statements are based on assumptions that we have made in light of management’s experience in the industry as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Those known and unknown risks, uncertainties and assumptions may relate to, among other things, global economic environment and business conditions in general or on the ability of our suppliers and business partners to meet their commitments to us, or the timing of purchases by our current and potential customers; the rapidly changing and intensely competitive nature of the IT, business management and consulting industry in which we operate; fluctuations in our operating results; our ability to realize the anticipated benefits of our growth strategies; risks inherent in operating in foreign countries, including foreign currency fluctuations; risks associated with data privacy, cyberattacks and maintaining secure and effective internal information technology and control systems; the timely and successful development, production or acquisition, availability and/or market acceptance of new and existing products, product features and services; tax rates; turnover of workforce and the ability to attract and retain skilled personnel; protecting our intellectual property; the availability and successful exploitation of new alliance and acquisition opportunities; and increased costs associated with maintaining controls and compliance obligations as a public company. This presentation includes certain financial measures not presented in accordance with generally accepted accounting principles in the United States (“GAAP”), including EBITDA, Adjusted EBITDA and Core Adjusted EBITDA, which are used by management in making operating decisions, allocating financial resources, and internal planning and forecasting, and for business strategy purposes, have certain limitations, and should not be construed as alternatives to financial measures determined in accordance with GAAP. The non- GAAP measures as defined by us may not be comparable to similar non-GAAP measures presented by other companies. Our presentation of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that our future results will be unaffected by other unusual or non-recurring items nor should it be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP. This presentation includes market and industry data and forecasts that we have derived from independent consultant reports, publicly available information, various industry publications, other published industry sources and our internal data and estimates. Independent consultant reports, industry publications and other published industry sources generally indicate that the information contained therein was obtained from sources believed to be reliable. Although we believe that these third-party sources are reliable, we do not guarantee the accuracy or completeness of this information, and we have not independently verified this information. Some market data and statistical information are also based on our good faith estimates, which are derived from management’s knowledge of our industry and such independent sources referred to above. Certain market, ranking and industry data included elsewhere in this presentation, including the size of certain markets and our size or position and the positions of our competitors within these markets, including our services relative to our competitors, are based on estimates of our management. These estimates have been derived from our management’s knowledge and experience in the markets in which we operate, as well as information obtained from surveys, reports by market research firms, our clients, suppliers, trade and business organizations and other contacts in the markets in which we operate and have not been verified by independent sources. References herein to our being a leader in a market or product category refer to our belief that we have a leading market share position in each specified market, unless the context otherwise requires. As there are no publicly available sources supporting this belief, it is based solely on our internal analysis of our sales as compared to our estimates of sales of our competitors. In addition, the discussion herein regarding our various end markets is based on how we define the end markets for our products, which products may be either part of larger overall end markets or end markets that include other types of products and services. Our internal data and estimates are based upon information obtained from trade and business organizations and other contacts in the markets in which we operate and our management’s understanding of industry conditions. Although we believe that such information is reliable, we have not had this information verified by any independent sources. All trademarks, service marks, and trade names appearing in this presentation are the property of their respective holders. This Presentation contains financial forecasts for the Company. The Company’s independent auditors have neither audited, studied, reviewed, compiled nor performed any procedures with respect to the projections for the purpose of their inclusion in this Presentation, and accordingly, they did not express an opinion or provide any other form of assurance with respect thereto for the purpose of this Presentation. These projections are forward-looking statements and should not be relied upon as being necessarily indicative of future results. In this Presentation, certain of the above-mentioned projected information has been provided for purposes of providing comparisons with historical data. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of the Company or that actual results will not differ materially from those presented in the prospective financial information. Inclusion of the prospective financial information in this Presentation should not be regarded as a representation by any person that the results contained in the prospective financial information will be achieved. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect the Company’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors are discussed in more detail in the Company’s filings with the Securities and Exchange Commission. These risks could cause actual results to differ materially from those implied by forward- looking statements. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect the Company. The Company has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
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Thank You Global Locations www.aeriestechnology.com IR@aeriestechnology.com Guadalajara North Carolina, New York Mumbai, Hyderabad, Bangalore & Pune IndiaMexico USA