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< epam > Investor Presentation AUGUST 2026 EPAM Proprietary & Confidential .
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EPAM Proprietary & Confidential. 2 Safe Harbor Statement These materials contain forward-looking statements. You should not place undue reliance on these statements because they are subject to numerous uncertainties and factors relating to the Company’s operations and business environment, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements include information concerning the Company’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “intend,” “potential,” “might,” “would,” “continue” or similar expressions. 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, developments relating to the war in Ukraine and escalation of the war in the surrounding region, political and civil unrest or military action in the geographies where we conduct business and operate, difficult conditions in global capital markets, foreign exchange markets, global trade, and the broader economy, the adoption and implementation of artificial intelligence technologies by EPAM and its customers, and the effect that they may have on our client demand, revenues, operations, access to capital, and profitability.Additional risks and uncertainties include but are not limited to the world economy; our expected financial performance; and macroeconomic and market conditions and volatility. 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 or correct any forward-looking statements after the date hereof, except as required by federal securities laws. This presentation includes non-GAAP financial measures. These non-GAAP financial measures are in addition to, and not a substitute or superior to, measures of financial performance prepared in accordance with GAAP . There are a number of limitations related to the use of non-GAAP financial measures. For example, other companies may calculate similarly titled non-GAAP financial measures differently. Refer to EPAM's respective earnings releases for reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures. I N V E S T O R P R E S E N T A T I O N
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EPAM Proprietary & Confidential. 3 Contents 01 02 03 04 05 06 Key Highlights Company Overview Strategic Positioning Use-Cases Awards & Recognition Financial Profile
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EPAM Proprietary & Confidential. 4 Key Highlights 01
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EPAM Proprietary & Confidential. 5 Winning in the AI Era I N V E S T O R P R E S E N T A T I O N Best positioned to be a leader in enterprise AI transformation Foundational AI work expanding, driving significant growth opportunity Strongest engineering talent in the industry with a track record of solving our clients’ most complex problems Clear strategy focused on accelerating organic growth, while driving margin expansion Accelerating revenue growth through 2028 16%+ non-GAAP operating income margin in 2028 $1.8B+ cumulative Free Cash Flow generation 2026 through 2028 Long-Term Targets
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EPAM Proprietary & Confidential. 6 Delivered solid organic constant currency revenue growth AI-native revenues accelerated Improved Non-GAAP gross margin, income from operations, and EPS Continued expansion of our strategic partnerships Key Takeaways: FY26 Q2 Earnings Results I N V E S T O R P R E S E N T A T I O N 01 02 03 04 Results came in at the high end of our outlook range. Sixth consecutive quarter of double-digit sequential growth. EPS growth outpacing revenue growth. Joined the OpenAI Partner Network as Advanced Partner, certifying more than 5,000 OpenAI consultants. With Google, certified more than 2,000 Gemini Certified Partner Specialist Program. Among Anthropic’s top five globally certified partners with more than 5,700 certified engineers
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EPAM Proprietary & Confidential. 7 EPAM Fast Facts – Q2 2026 Emerging Life Sciences & Healthcare 4.9% 8.0%$169M$23 7M Business Information & Media -2.1%$167M Consumer Goods, Retail & Travel 2.3%$274M Software & Hi-Tech -1.3%$202M Financial Services 11.5%$366M R E V E N U E S BY I N D U ST RY V E R T I C A L (Reported $ & YoY Growth) EMEA AMERICAS -0.3% 10.9% $806M $582M $27M R E V E N U E S BY C U STO M E R LO C AT I O N (Reported $ & YoY Growth) APAC R E P O R T E D R E V E N U E S ( Yo Y ) $1.415B | 4.5% N O N- G A A P D I LU T E D E P S ( Yo Y ) $3.38 | 22.0% G A A P D I LU T E D E P S (Y oY ) $1.97 | 26.3% Figures are as of Q2 2026 unless otherwise noted. Refer to EPAM’s 2nd Quarter 2026 Earnings Release for additional information and GAAP to Non -GAAP reconciliation. N O N- G A A P I N C O M E F R O M O P E R AT I O N S ( Yo Y ) $232.7M | 14.7% G A A P I N C O M E F R O M O P E R AT I O N S ( Yo Y ) $152.2M | 20.4% 0.5%
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EPAM Proprietary & Confidential. 8 Company Overview 02
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EPAM Proprietary & Confidential. 9 Helping Our Clients: Deliver productivity and ROI Navigate disruption and technology innovation Solve their most complex challenges Become more cost competitive Drive more revenue, change the business Accelerate AI-native transformation We Are Builders Engineering DNA. Multidisciplinary Experts. Delivering Results. Relentlessly.
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EPAM Proprietary & Confidential. 10 Our Major Technology Waves I N V E S T O R P R E S E N T A T I O N +30 years. Cycle-Tested. Engineering Remains. 2004 2005 2006 2007 2008 20091993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 ERA OF INTERNET ERA OF CLOUD / MOBILE / DATA ERA OF AI EPAM Founded IPO Today
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EPAM Proprietary & Confidential. 11 Who We Serve Google Select Partners 11 Industries diverse and global client list 345+ of Forbes Global 2000 64 of Top 100 clients are part of both the S&P 500 and Forbes Global 2000 13 Years average relationship across top 20 clients 80+ of our top 100 clients engaged in AI-native
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EPAM Proprietary & Confidential. 12 Strategic Positioning 03
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EPAM Proprietary & Confidential. 13 We Have A Significant Opportunity Ahead Within Faster Growing Parts Of Total IT & AI Services Market I N V E S T O R P R E S E N T A T I O N ‘Client Zero’ Mentality Internal AI transformation, driving creation of global delivery standards and playbooks, battle-tested tools, and best practices Engineering Excellence Pioneering engineering culture with long-standing R&D mindset, labs, early adoption of technology and reputation for technical leadership Talent Management Approach Enterprise systems to manage people, projects and their productivity to maximize client and EPAM value Deep Industry Expertise Broad and deep expertise across key industry verticals and industry- specific platforms Long-Standing Client Relationships Loyal client base built on deeply embedded, proven relationships and close integration with executives, internal teams, processes and culture Our cycle-tested strengths, innovation and unique DNA positions us to win in the AI-era
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EPAM Proprietary & Confidential. 14 We Are On Multi-Year Journey With An Aspiration to Become The Go-To-Partner in Enterprise AI Transformation I N V E S T O R P R E S E N T A T I O N Empowering organizations to navigate and accelerate their AI journeys through end-to-end transformation Talent, Skills & Capabilities Strategic Partnerships Domain & Verticalization Expertise IP Assets Key Enablers Strategic Pillars Establish EPAM as a Leading AI-delivery Software Engineering Services Provider 01 02 03 Transform Into an AI-native Organization Capitalize On AI-native Structure to Expand Offerings
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EPAM Proprietary & Confidential. 15 We Continue To Create And Expand Our AI-Native Business Models And Services I N V E S T O R P R E S E N T A T I O N Traditional Services AI-Driven Services Market Demand Is Transforming Manual BPO Operations Agentic Intelligent Operations AI-Native Experiences Agentic Operations (Factories) Agentic Security Legacy IT Support Traditional Agency Work Standard Consulting Illustrative Examples:
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EPAM Proprietary & Confidential. 16 We Are Moving Clients Through Experimentation To AI-Native I N V E S T O R P R E S E N T A T I O N 20 types of AI agents now supporting multiple teams and business units across PostNL Our AI-Native Team Working as L3 Offers Faster Delivery & Response to Market Disruptive & Novel Codified AI-native SDLC, agentic workflows with cost-governed optimization Most Companies Have Been Stuck Here Companies Trying to Move Here, Targeting AI Adoption at Scale Few Companies Delivering at this Level 03 Systematic & Scalable Agents as code; majority adoption with tracked productivity metrics 02 Inconsistent & Ad-Hoc Copilots/assistants; sporadic adoption without data insights 01 EPAM’S DIFFERENTIATION MOAT WE ARE MEETING CLIENTS WHERE THEY ARE & STEWARDING THEIR JOURNEY TO LEVEL 03
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EPAM Proprietary & Confidential. 17 Doubling Down On Our Key Growth Drivers I N V E S T O R P R E S E N T A T I O N Talent, Skills & Capabilities Extending 30+ year heritage of integrating technology, business strategy, experience design and operations underpinned by superior software engineering Domain & Verticalization Expertise Strengthening deep client relationships rooted in client-centric knowledge and experiences Internal Platforms & IP Assets Capitalizing on industry-leading platforms and proprietary intellectual property assets to support long-term value creation Strategic Partnerships Combining strategic partner solutions and AI/Run .Toolsto create best-of-breed ecosystems
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EPAM Proprietary & Confidential. 18 Building a New Profile: Full-stack Agentic Engineer I N V E S T O R P R E S E N T A T I O N Skill Evolution In Progress Retiring • Stack-specific ownership • Sequential, handoff-based delivery • Manual verification gates Retaining • Full-stack delivery ownership • Security and reliability engineering • System architecture design Rising • AI agent direction and validation • AI-native workflow structuring • Parallel AI-augmented workstreams AI-NATIVE DELIVERY DONE RIGHT = 10X TEAM Full-Stack Software Engineer Agentic Tooling (Going DEEP) Delivery-as-Code (The Structure) Beyond Copilot: Multi-Session Parallel Work Full-Stack Stories, Not Stack-Specific Tasks Feature Factory Economics Codified Agent Infrastructure Narrow Specialist EPAM Specialist (Engineering DNA)
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EPAM Proprietary & Confidential. 19 Expanding our Go-to-Market Opportunities with a Focus On the End Buyer I N V E S T O R P R E S E N T A T I O N Three brand doors to engage unique buyers and speak directly to their needs GM / Head of Business Strategy Business Optimization & Growth Chief Marketing Officer AI-Native Transformation Chief Technology Officer Agile IT / SDLC / PDLC EPAM Empathy Lab EPAM Continuum Type of Buyer Solution Focus AI-Native Engineering AI-Native Consulting AI-Native Agency Cloud Cyber Security DevOps Engineering Advisory M&A Testing AI Experience Functional Data & Analytics Innovation Industry AI/Run .Transform REALIZE VALUE EXPANDING OUR ADDRESSABLE MARKET & INCREASING NUMBER OF BUYERS IN NEW WAYS
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EPAM Proprietary & Confidential. 20 Offering Differentiated Blueprints and Playbooks, Accelerating Client AI Adoption and Transformation I N V E S T O R P R E S E N T A T I O N Enterprise-Wide AI-Native Transformation Help redefine our client's business and envision the future of their organizations with AI Modular ‘Meet You Where You Are’ frameworks and methodologies Brings together critical thinking, industry expertise and agentic capabilities to shape AI-native delivery teams Proprietary, agentic-powered platforms and leading technology partner ecosystems to accelerate delivery and provide bespoke solutions for our clients AI-Native Engineering Transformation AI-Innovation Business TransformationFrom Software delivery lifecycle to full-scale talent + business transformation
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EPAM Proprietary & Confidential. 21 160+ Ecosystem Partnerships I N V E S T O R P R E S E N T A T I O N Select Partners Accelerate revenue growth through joint go-to-market opportunities that drive adoption and consumption Elevate market sensing capabilities to stay abreast of the evolving market trends Cross-sell across multiple client functions Enhance delivery efficiency and effectiveness Awarded 2025 GSI Leveraging Partnerships to: Identify and action joint IP and collaboration models
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EPAM Proprietary & Confidential. 22 Proven Relationships and Growing Partnerships I N V E S T O R P R E S E N T A T I O N EPAM and Oracle Collaborate to Accelerate Adoption of AI-Powered Cloud Solutions October 2025 EPAM Wins the 2025 Microsoft Innovate with Azure AI Platform Partner of the Year Award November 2025 EPAM Launches Advanced Agents into Google Marketplace December 2025 EPAM Receives 2025 AWS Global Innovation Partner of the Year December 2025 EPAM Joins Microsoft Intelligent Security Association EPAM and Cursor Announce Strategic Partnership to Build and Scale AI-Native Teams for Global Enterprises January 2026 March 2026 EPAM and Anthropic Form Strategic, Multi-Year Partnership to Accelerate the Delivery of Safe, Reliable and Enterprise-Grade AI May 2026 July 2026 EPAM joins OpenAI Partner Network, together we’re building forward deployed engineering, cyber resilience, and customer experience capabilities
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EPAM Proprietary & Confidential. 23 Client Examples 04
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EPAM Proprietary & Confidential. 24EPAM Proprietary & Confidential. 24 Hugo Boss R E T A I L & C O N S U M E R A leading global fashion brand and retailer EPAM partnered with HUGO BOSS on the launch of the groundbreaking HUGO BOSS XP membership program, now available in the UK, Germany and France. Together, our best-in-class teams have harnessed the power of digital transformation and blockchain technology, supported by the PolygonLabs PoS network, to create a customer loyalty experience like no other. This partnership is a testament to our shared commitment to innovation and excellence in customer experience design and has been recognized with a Gold 2025 AVA Digital Award in Interactive Brand Experience. NOTE: public
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EPAM Proprietary & Confidential. 25 A leading global healthcare company McKesson was experiencing business disruptions and performance issues that delayed content updates by days.In response, the company decided to modernize its B2B Connect Portal by transforming it into a scalable, cloud-native platform. Leveraging Contentstack, EPAM re-platformed the solution with modern composable architecture that enhanced agility, scalability and operational efficiency, while enabling the business to implement changes more quickly and securely. Content updates happen 75% faster and report generation time decreased 98%. McKesson Corporation H E A L T H C A R E NOTE: Public
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EPAM Proprietary & Confidential. 26 North America’s largest property management company FirstService had a clear vision: create a compelling vision for the future of business operations, and roadmap the modern software platform needed to support that future. Our partnership resulted in a vision for new products and services for FirstService, as well as the successful launch of Homeowner Digital Assistant® (HODA), a GenAI- and SMS-enabled, cloud-native, modern web experience that helps make residents’ lives easier and more convenient. HODA delivered a 60% increase in weekly unique users and resulted in a 27% decline in weekly unanswered queries. What started as a strategy consulting project grew into an AI- powered, modern tech evolution, showcasing the transformative power of working and scaling with the right team. FirstService R E T A I L & C O N S U M E R NOTE: PUBLIC
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EPAM Proprietary & Confidential. 27 EPAM helped an Energy client migrate more than 1,000 workloads to AWS with zero downtime for users — resulting in a 40% reduction in infrastructure and operation costs and a 30% improvement in operational efficiency. The project came at a sensitive time after an acquisition, when the company needed to extract a critical application from its legacy environment and consolidate hundreds of aging on- premises servers. In addition to establishing a new AWS foundation, we also worked with the client to apply for AWS Migration Acceleration Program (MAP) funding, securing a portion of the migration cost. A Global Energy Commodity Company E N E R G Y & R E S O U R C E S NOTE: Under NDANOTE: UNDER NDA
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EPAM Proprietary & Confidential. 28 To overcome legacy system challenges and cost pressures, a leading data provider for the energy sector turned to EPAM for help in building a secure, cloud-native data platform on AWS. We helped migrate 35+ PB of seismic data to AWS, with a centralized storage architecture that improves scalability, strengthens data governance and increases operational efficiency. In addition to a more robust approach to data quality, metadata management and compliance, the platform offers a more seamless integration with advanced analytics and visualization tools to help the company unlock greater value from its data and drive innovation across its operations. A Leading Energy Data Provider E N E R G Y & R E S O U R C E S NOTE: Under NDANOTE: UNDER NDA
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EPAM Proprietary & Confidential. 29 A major provider for telecommunications, cloud and internet services in Germany 1&1 partnered with EPAM to revolutionize its customer service using agentic AI. By deploying EPAM's AI/Run .Transform blueprint and leveraging Microsoft Azure, 1&1 launched AI voice agents that handle hundreds of thousands of calls weekly, with the first agents going live in just six months. EPAM embedded experts to align stakeholders, host workshops and implement best practices. The scalable, ROI-driven solution improved efficiency, reduced costs and enhanced customer experience. This collaboration showcases the power of targeted AI in driving measurable business impact. 1&1 M E D I A , E N T E R T A I N M E N T & T E L C O NOTE: Public
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EPAM Proprietary & Confidential. 30 A global multi-faceted services company In a landscape buzzing with AI advancements, Nelnet wanted to understand the practical impact of generative AI (GenAI) on its business. EPAM partnered with the company to transform its Product Development Lifecycle (PDLC) using GenAI, achieving a 31% productivity boost. Over a 12-week pilot, EPAM integrated AI tools, developed a custom metrics framework and provided training to Nelnet's teams. Key results included 1.9X backend and 1.6X frontend development acceleration, with 64% of AI-generated code requiring no changes. Post-pilot, EPAM conducted peer coaching to scale AI adoption across the company. Nelnet F I N A N C I A L S E R V I C E S NOTE: Public
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EPAM Proprietary & Confidential. 31 Global nonprofit renowned for showcasing and protecting the planet To further its mission of exploration and conservation, the National Geographic Society is partnering with EPAM to open its Museum of Exploration in Washington, D.C. As the Society's preferred digital transformation partner, EPAM is helping to develop a unified digital platform, create an accessible interactive map, and design a groundbreaking augmented reality (AR) installation to allow visitors to experience the thrill of exploration. Our partnership reimagines how cultural institutions connect with audiences — blending physical and digital touchpoints that extend the museum experience far beyond its walls. By combining mission-driven storytelling with the power of technology, we hope to inspire the next generation of explorers and protect the wonders of our world. National Geographic Society T R A V E L & H O S P I T A L I T Y NOTE: public
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EPAM Proprietary & Confidential. 32 Awards & Recognition 05
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EPAM Proprietary & Confidential. 33 Industry Leading Recognitions I N V E S T O R P R E S E N T A T I O N EPAM named a leader in IDC MarketScape: Worldwide Data Modernization Services Providers for Retail and Restaurants EPAM named a Top 3 Leader in AI &Tech by Glassdoor (2026) EPAM included in the Forrester Customer Experience Strategy Consulting Services Landscape featuring providers that support end to end CX transformation — from vision through execution EPAM ranked a Glassdoor Top 100 Best Places to Work (2023 - 2026) The Wall Street Journal named EPAM one of its Best Companies for the Future (2026) Whitelane - Europe + UK&I & Nordics: EPAM Ranked #1 Across Europe (2025) and in UKI and Nordics (2026)
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EPAM Proprietary & Confidential. 34 Financial Profile 06
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EPAM Proprietary & Confidential. 35 Long-Term Financial Algorithm I N V E S T O R P R E S E N T A T I O N Accelerating revenue growth through AI-native transformation Growth Growing market for AI-native and foundational AI services, enabling return to double digit revenue growth 01 Capital Allocation Combining strategic M&A transactions with ongoing share repurchases Profitability Margin expansion through ongoing improvement in cost efficiency, AI productivity and evolution of pricing models 02 04 Free Cash Flow Business model generates significant operational cash flows with limited capital expenditures 03
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EPAM Proprietary & Confidential. 36 Returning to Growth I N V E S T O R P R E S E N T A T I O N Revenues ($M) Non-GAAP Operating Income ($M) Non-GAAP Diluted EPS ($) • Stability during period of geopolitical challenge • Expanded delivery locations • AI focus driving growth • Stable profitability while repositioning delivery • Continuing to invest in capabilities • Revenue growth • Focus on profitability • Effective capital allocation Key drivers $4,825 $4,691 $4,728 $5,457 $5,659 2022 2023 2024 2025 2026E $10.90 $10.59 $10.86 $11.50 $13.16 2022 2023 2024 2025 2026E $818 $765 $779 $831 $891 2022 2023 2024 2025 2026E OPTIMIZING REPOSITIONED GLOBAL DELIVERY, WHILE CONTINUING TO INV EST IN AI & AI -NATIVE CAPABILITIES Refer to Footnotes for Non-GAAP definitions and refer to the company’s respective earnings releases for reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures. 2026E reflects the midpoint of the range for full year 2026 outlook estimates, issued in our FY26 Q2 earnings release.
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EPAM Proprietary & Confidential. 37 History of Robust Free Cash Flow Generation I N V E S T O R P R E S E N T A T I O N Free Cash Flow1 ($M) and Adj. Net Income Conversion2 (%) $- $10 0 $20 0 $30 0 $40 0 $50 0 $60 0 $70 0 $80 0 2023A 2024A 2025A ~$1.8B+ Cumulative Free Cash Flow Generation 2026 through 2028 $534M $527M $613M 85% 84% 95% Long term Adj. Net Income Conversion Target 80%-90% $- $10 0 $20 0 $30 0 $40 0 $50 0 $60 0 $70 0 $80 0 2026E 2027E 2028E HIGHLY CASH GENERATIVE BUSINESS MODEL UNDERPINNING ABILITY TO IN VEST FOR GROWTH 1) Free cash flows is calculated as cash flows from operating activities as presented in the statement of cash flows under GAAP, less capital expenditures. 2) Adjusted net income conversion is calculated by dividing free cash flows by non-GAAP net income.
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EPAM Proprietary & Confidential. 38 Balanced Capital Allocation Strategy I N V E S T O R P R E S E N T A T I O N Efficient free cash flow generation and a strong balance sheet ~1.6B Since initiation of share repurchase programs Historical Uses of Cash Capital Deployment 2024 – 2025 Reinvestment ~20% M&A ~35% Share Repurchases ~45% Go-Forward Priorities 01 Reinvestment Organic reinvestment to support high-growth opportunities Capital Returns Disciplined share repurchases when share price is undervalued 02 M&A Targeted tuck-in acquisitions to access high-growth industry domains or geographies 03 Cash Returned to Shareholders Share Repurchases
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EPAM Proprietary & Confidential. 39 Q3 2026 Full Year 2026 Revenue $1.410B – $1.425B $5.632B – $5.686B Y/Y Revenue Change 1.7% 3.2% – 4.2% Y/Y Revenue Growth Rate in Organic Constant Currency at the Midpoint 1.8% 2.0% – 3.0% Income from Operations GAAP Income from Operations 11.0% – 12.0% 10.5% – 11.0% Non-GAAP Income from Operations 15.5% – 16.5% 15.5% – 16.0% Diluted EPS Weighted Average Diluted Shares Outstanding 51.4M 52.2M GAAP Diluted EPS $2.33 – $2.41 $8.22 – $8.38 Non-GAAP Diluted EPS $3.38 – $3.46 $13.08 – $13.24 Y/Y Non-GAAP Diluted EPS Growth Rate at the Midpoint 11.1% 14.4% Full Year and Q3 2026 Guidance Refer to EPAM's respective earnings releases for reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures.
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EPAM Proprietary & Confidential. 40 Clear Strategy to Drive Value Creation I N V E S T O R P R E S E N T A T I O N Growth Durable Revenue Growth Accelerating revenue growth through 2028 16%+ non-GAAP operating income in 2028 $1.8B+ cumulative free cash flow generation 2026 through 2028 Invest in growth vectors and return capital to shareholders Profitability Operating Income Margin Expansion Free Cash Flow Strong & Durable Free Cash Flow Returns Disciplined Capital Allocation Expected Results DRIVING FURTHER SHAREHOLDER VALUE Refer to EPAM's respective earnings releases for reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures.
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EPAM Proprietary & Confidential. 41 I N V E S T O R P R E S E N T A T I O N Footnotes 1. Non-GAAP Operating Income excludes stock-based compensation expenses, acquisition-related costs including amortization of acquired intangible assets, impairment of assets, expenses associated with EPAM's humanitarian commitment to its professionals in Ukraine, unbilled business continuity resources resulting from Russia's invasion of Ukraine, costs associated with the geographic repositioning of EPAM employees based outside of Ukraine impacted by the war and geopolitical instability in the region, employee separation costs incurred in connection with restructuring programs including the Company's exit from Russia, and certain other one-time charges and benefits 2. Non-GAAP Diluted EPS stock-based compensation expenses, acquisition-related costs including amortization of acquired intangible assets, impairment of assets, expenses associated with EPAM's humanitarian commitment to its professionals in Ukraine, unbilled business continuity resources resulting from Russia's invasion of Ukraine, costs associated with the geographic repositioning of EPAM employees based outside of Ukraine impacted by the war and geopolitical instability in the region, employee separation costs incurred in connection with restructuring programs including the Company's exit from Russia, certain other one-time charges and benefits, changes in fair value of contingent consideration, foreign exchange gains and losses, excess tax benefits related to stock-based compensation, and the related effect on income taxes of the pre-tax adjustments