Coforge Ltd

FOREWORD - THE YEAR GONE BY...

FY'22 was a landmark year for Coforge, and the company performed exceptionally well demonstrating our ability to grow consistently across our core verticals and service lines. The organization continues to be led by its vision of "Engage with the Emerging", enhancing the company's long-standing deep domain expertise in select industry verticals with its competence in emerging technologies to transform customer businesses.

Our FY'22 performance data speaks for itself with revenue growth of 38%, EBITDA growth of 42% and PAT growth of 45% over last year. It is also important to note that we delivered this robust revenue growth while simultaneously and significantly expanding our adjusted EBITDA margin by 90 bps in a severely cost escalatory environment. In addition, the Coforge growth story in FY'22 has been a saga of other notable achievements too, that include the new order intake of the firm crossing $ 1.15 billion and signing of 11 large deals including a $ 105 million deal and three $ 50+ million deals. Our ability to grow margins in a tough year like FY'22 arose primarily from our ability to sign large deals which in turn has allowed us to materially scale up our offshore operations. The firm is now focused on carving an accelerated growth path to the $2 billion revenue milestone.

The year proved to be a stellar year for our BFS business which clocked 102% growth on the back of multiple large deals. The Insurance vertical logged another strong performance and grew 20.2% while the TTH vertical recovered smartly in FY'22 to grow 36.0% over FY'21. We experienced strong growth across our entire offering spectrum during the year and all our service lines are scaled businesses today. Our Digital portfolio which comprises product engineering, intelligent automation, and data & integration service lines made up 51.5% of technology revenue and 46.6% of overall revenue. Digital and cloud-infra services combined are 71.3% of our technology revenue and grew at 24.5% in FY'22.

In line with our vision of "Engage with the Emerging", we continued to strengthen our position across existing and new partner ecosystems to enhance our capabilities and provide a differentiated offering to our clients. During the year, Coforge became an AWS Travel and Hospitality Competency Partner, reflecting the firm's demonstrated expertise in helping travel and hospitality clients transform their businesses. We also announced

a global partnership with Kong - a Gartner 2021 leader in Full Lifecycle API management. As a testament to our delivery capability, Coforge earned the Global Elite distinction in the new Pega Partners Program. In addition to Global Elite status, Coforge also earned Specialized distinctions in Customer Service, Delivery, and Manufacturing. The Coforge Salesforce Business Unit also won the ‘JAPAC - Breakthrough Partner of the Year' award from MuleSoft, for its excellence in enabling customers to accelerate their digital transformation initiatives.

Our commitment as a firm to drive robust sustained and profitable growth in the years ahead involves change and reinvention. We shall continue to nourish our culture based on respect, inclusivity, and trust, that makes Coforge a great place to work.